Central Iron Ore Limited announced this Drilling Update. South Darlot Joint Venture: The following work programme occurred: Assay results for all 2,812 samples submitted during the 2023 South Darlot Gold Project RC drilling campaign have been received from ALS Kalgoorlie. The quality of the assay results for all the drilling is considered satisfactory with the required Quality Assurance and Quality Control (QAQC) processes having been completed with all results meeting industry standard.

Drilling Assay Result Interpretation of the assay results has indicated significant mineralisation with further drilling recommended to extend the new mineralised outline both at depth and laterally being planned. Several significant intercepts further extending the current mineralised extents of the Mermaid deposit: 23MERC_001: 7m @ 1.72g/t from 37 meters; 23MERC_002: 1m @ 3.75g/t from 66 meters; 23MERC_004: 7m @ 2.13g/t from 54 meters; 23MERC_007: 2m @ 3.04g/t from 69 meters. The drilling at Mermaid has been highly successful, further extending the currently defined mineralised lode and highlighting the potential for even further extension of the Mermaid lode down dip and to the south west.

Long Section View of the Pierce Point Grade Intercepts of the Mermaid Deposit New Targets. Drilling Assay Result interpretation of the assay results has begun with significant gold anomalism having been identified at the Sylvia & Kyneton and Weebo North prosects. Further exploratory drilling is currently being planned at the Sylvia & Kyn Princeton and Weebo North targets.

Highlights: High grade gold mineralisation has been identified in a one- to two-meter-wide fractured quartz vein and its associated wall rock contact zones. A low grade (up to 2 g/t) mineralisation halo is often found in altered wall rock around the auriferous vein. Several significant intercepts from the program include: 23SKRC_002: 1m at 3.26g/t from 19 meters; 23SKRC_004: 1m @ 9.3g/t from 25 meters; 23SKRC_007: 5m @ 3.63g/t from 36 meters; 23SKRC_008: 6m @ 1g/t from 38 meters.

Drilling at Weebo North has confirmed high grade gold mineralisation in an area previously not tested by RC drilling. The auriferous lodes at both Sylvia and Kyneton and Weeba North remain open at depth and laterally. Follow up drilling testing the extent of the extension is being planned currently.

Cross Section of the Weebo Lode 1 Showing 2023 and Historical Grade Distribution Downhole. Native Title Clearance: Native title clearance processes for portions of the tenements covered by lodged Aboriginal Cultural Heritage is ongoing, preliminary dates for the heritage surveys has been set for the end of May 2024. Following the completion of the heritage surveys, the intent is to drill in the following 3 to 6 months.