Moab Minerals Limited provided an update on exploration activities at its Mt Amy Gold Project located in the Gascoyne region of Western Australia. Moab completed a program of BLEG1 soil sampling for gold and base metals in November 2022, following up historical gold geochemical and rock chip anomalies at Mt Amy, which is situated at the northern extent of the Ashburton Basin where it meets the Carnarvon Basin. Historical exploration, principally by Sandfire Resources NL, identified a coherent gold in soil anomaly up to 1.0km long and 400m wide as well as gold- anomalous rock chip samples in adjacent areas that have not been followed up.

The soil sampling program involved 216 samples which were collected on 400m x 40m sample spacings in two separate areas. This sample spacing is still of a reconnaissance scale and significant anomalies will require in-fill sampling to determine their full extent. Moab considers that the single anomalous value of 687 ppb Au and 834 ppb Ag justifies follow-up sampling on a more detailed sample spacing to determine the dimensions of the anomaly, with other anomalies to be assessed and followed-up as justified.

Sampling on the western grid provided results that did not support the historical gold anomaly, and therefore no further work will be undertaken on that target. The Mt Amy Gold Project is located at the northern extent of the Nanjilgandy Fault, the same structure that hosts the Paulsens and Mount Olympus gold deposits to the south. The "Capricorn Seismic Line" (10GA- CP-1) completed by the GSWA concluded that the regional scale Nanjilgardy and the Baring Downs faults are major orogenic structures and are mantle tapping (Thorne et al., 2011), and therefore may be spatially related to large gold deposits.

Follow-up sampling will be carried out depending on weather and access at the end of the northern wet season.