Yandal Resources Ltd: Exploration Update

Perth, Australia - Yandal Resources Ltd. (ASX:YRL) is very pleased to provide an update on exploration activities at the 100%-owned Gordons, Ironstone Well and Barwidgee gold projects located in the eastern goldfields, in Western Australia (Figure 1*).

Yandal Resources' Managing Director; Mr Tim Kennedy commented:

"Yandal confirmed earlier this year that the Malone prospect has the potential to host a significant highgrade gold discovery very close to operating mines and infrastructure and a short distance from the town of Kalgoorlie-Boulder. The recently completed diamond and RC drilling programs were the next step in understanding the controls of mineralisation and potential extent of the system. We look forward to receiving the results of these program over the next couple of months.

We were very encouraged by recent Aircore results that highlighted an emerging new mineralised position at the Meuleman prospect along the prospective Alderman felsic-mafic contact. The geological team took the initiative and undertook a quick initial test of this position using the RC rig that happened to be onsite at the time that the results were received.

Further to the north in our Yandal Belt tenements it was good to complete the cultural heritage survey which will enable drill testing of some the highest ranked targets in our extensive portfolio."

Gordons Project

Malone, Alderman & Andrews Prospect Drilling (Figure 2 & 3*)

A drilling program comprising two diamond holes for a total of 541.2m and thirteen RC holes for 1,963m has been completed at the Gordon's Project.

The purpose of the diamond drilling was to test high grade mineralisation intercepted at the Malone prospect in two reverse circulation ("RC") drill holes as reported in the March Quarter 2022 including:

- 5m @ 7.7g/t Au from 210m including 1m @ 15.4g/t Au from 212m (YRLRC0727); and

- 3m @ 8.8g/t Au from 190m including 1m @ 19.4g/t Au (YRLRC0811)

These two intercepts are situated approximately 30m from each other in the footwall to the Malone contact adjacent to a prominent flexure referred to as the "Kink Zone", an ideal location for localising gold mineralisation. The diamond drilling was designed to provide further lithological and structural information with a particular focus on confirming mineralisation controls and geometry. The core has been logged by our team with input from our consultant structural geologist Fop Vanderhor. This information was used to assist in targeting the recently completed step-out RC program. Core has been processed and samples dispatched to the laboratory for analysis.

At Malone four RC holes were completed on three 100m spaced lines north-west and south-east of highgrade intercepts in YRLRC0727 and YRLRC0811, testing for strike extensions of mineralisation. Initially six holes were planned in this location however the final two holes could not be completed due to lack of rig availability and it is intended that they will be completed in a subsequent program. A further six RC holes were drilled to test strong aircore intercepts adjacent to the Malone contact and 600m further to the west in the footwall including:

- 4m @ 1.0 g/t Au from 52m (YRLAC2040)

- 13m @ 0.3g/t Au from 71m (YRLAC0690)

Two RC holes were drilled at the Andrews prospect, south of Malone as a follow-up test of an encouraging intercept of 3m @ 2.2g/t Au from 97m (YRLRC0622). Due to very difficult ground conditions the full target depth was not reached in either of these holes and the target will be the subject of further follow-up drilling in a later program.

A single RC hole was drilled at the end of the program to test an aircore intercept of 8m @ 1.7g/t Au (52m) including 4m @ 2.6g/t Au (YRLAC0898 4m composite) along the Alderman contact at the Meuleman prospect that was received during the course of drilling (refer to this report).

All RC samples have been collected and submitted to the laboratory for analysis. Further follow-up drilling will be planned once all results have been received and interpreted.

Zoehrer, Star of Gordon, Red Dozer, Marsh, Langer & Alderman Prospect Results

Preliminary and final assay results have been received from aircore, RC and diamond drilling completed over a number of prospects in the March Quarter 2022. Significant results are summarised below and details of all results are provided in Table 1*.

At the Zoehrer prospect, located ~1.6km directly NNW along strike from the Gordon Sirdar underground gold mine, assay results were received from 10 RC holes (3,795m) testing for strike potential strike extensions of the Gordon Sirdar mineralisation system.

Results included a number of encouraging intercepts as outlined below;

- 28m @ 1.3g/t Au from 176m including 4m @ 3.6g/t Au (YRLRC0806 - 4m composites)

- 16m @ 0.9g/t Au from 132m including 4m @ 3.0g/t Au (YRLRC0805A - 4m composites)

These results are considered significant as they are strategically located between the Star of Gordon prospect and the Gordon Sirdar mine. There is little effective historic drilling in this area, particularly to the west and follow-up drilling is being planned.

At the Star Gordon prospect assay results were received from 19 RC holes (2,553m) and 2 diamond holes (551.3m) testing for strike and down-dip extensions and repetitions of high-grade mineralisation previously reported for Star of Gordon including 10m @ 8.4g/t Au in YRLRC0630.

Significant intercepts include;

- 5m @ 1.4g/t Au from 67m including 1m @ 6.8g/t Au (YRLRC0784)

- 14m @ 0.4g/t Au from 33m including 2m @ 2.2g/t Au (YRLRC0763)

These recent results together with earlier diamond drilling completed at Star of Gordon have confirmed the complexity of structural controls on mineralisation. Results are currently being incorporated into an updated geological model of the area which includes input from our consultant structural geologist. Further drilling will be planned upon completion of the updated model.

Results received from twelve RC holes (1,282m) drilled at the Langer, Marsh and Red Dozer prospects, include a number of low order intercepts as detailed in Table 1*. The requirement for follow-up drilling is being assessed.

Results have been received from 416 aircore holes (25,085m) testing for extensions of mineralisation at several prospects as well as providing a first pass test along prospective felsic-mafic contacts as illustrated in Figure 2* and detailed in Table 2*.

The standout result came from the Meuleman Prospect, along the Alderman contact, which returned an intercept of 8m @ 1.7g/t Au from 52m including 4m @ 2.6g/t Au (YRLAC0898 4m composites). This intercept is located 740m south-east of an intercept of 16m @ 1.3g/t Au (YRLDD0015) reported last quarter (Figure 5*).

The result from YRLAC0898 was returned while the recent RC drilling program was still in progress which enabled an initial follow-up RC hole to be completed. Further drilling will be planned upon receipt of results from the initial follow-up RC hole.

Ironstone Well and Barwidgee Projects

The Ironstone Well and adjacent Barwidgee projects cover over 470km2 of highly prospective and underexplored Yandal Greenstone Belt, east of Wiluna in Western Australia (Figures 1 & 6*).

Significant exploration on these projects has been on hold pending the completion of cultural heritage clearance survey by the Kultju (Aboriginal Corporation) RNTBC ("Kultju AC"). The Kultju AC hold native title rights to an area which includes the much of the Ironstone Well and Barwidgee projects. Yandal entered into an Exploration & Prospecting Deed with the Kultju AC in October 2021 which amongst other things provides a protocol for the protection of cultural, heritage and environmental values of the land, during exploration activities.

In late April representatives of the Kultju AC completed a heritage survey to enable aircore and RC testing of key prospects including Sims Find to Copan, New England Granite, Newport, Flushing Meadows, Flinders Park, Quarter Moon and Oblique (Figure 6*).

Priority for initial testing will be the Sims Find Prospect to follow-up multiple high-grade intercepts discovered in wide-spaced RC drilling in 2021 (Figures 7*). These include;

- 6m @ 9.0g/t Au from 172m including 1m @ 40.0g/t Au and 1m @ 10.9g/t Au (YRLRC1011)

- 1m @ 10.25g/t Au from 81m (YRLRC1014)

- 8m @ 24.3g/t Au from 9m including 1m @ 129.0g/t Au from 12m (YRLRC457)

- 3m @ 20.9g/t Au from 30m including 1m @ 62.3g/t Au from 30m (YRLRC447)

- 5m @ 6.5g/t Au from 17m including 1m @ 30.4g/t Au1 from 17m (YRLRC445)

Preparations are underway to commence drilling programs as soon as possible. Hole locations for the initial program will be finalised upon receipt of the survey report and associated work program clearances which are anticipated late May.

Next Steps

Key exploration activities planned during the June Quarter include;

- Finalise aircore and RC programs to testing priority targets at Ironstone Well and Barwidgee including Sims Find to Copan, New England Granite, Newport, Flushing Meadows, Flinders Park, Quarter Moon and Oblique. Commence drilling pending receipt of heritage approvals.

- Receive and interpret pending aircore, RC and diamond drilling results from Malone, Zoehrer and Meuleman prospects at the Gordons project and plan follow-up drilling.

- Review historic and recent drilling data at the Mt McClure Project to establish controls on potential higher grade plunging shoots and the potential for establishing an initial Mineral Resource Estimate at Success and Challenger.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/7RQ16VXG

About Yandal Resources Ltd:

Yandal Resources (ASX:YRL) listed on the ASX in December 2018 and has a portfolio of advanced gold exploration projects in the highly prospective Yandal and Norseman-Wiluna Greenstone Belts of Western Australia. Yandal Resources' Board has a track record of successful discovery, mine development and production.

Source:
Yandal Resources Ltd.

Contact:

Tim Kennedy Managing Director - CEO Yandal Resources Ltd. E: yandal@yandalresources.com.au Bianca Taveira Company Secretary T: +61-8-9389-9021 E: yandal@yandalresources.com.au