Parabellum Resources Limited (PBL) updated shareholders on its fieldwork and exploration since the Company listed in November 2021. The Redlands/Whitbarrow, Recovery and Lunns Dam Projects in the Tottenham-Girilambone district comprises four granted exploration licenses covering approximately 690km²; and the Obley Project in theYeoval district comprises one granted exploration license covering approximately 180km². Airborne EM program: The defined strategy of PBL is targeting massive sulphide (Besshi-type) copper mineralisation in rocks of the Girilambone Group in Western NSW, and copper/gold skarn mineralisation around an intrusive complex with known copper mineralisation in Central NSW.

The recent discovery of the Constellation deposit by Aeris Resources proximal to the Company's tenements illustrates the exceptional exploration potential of PBL's tenement package. Massive sulphide mineralisation directly detected by electromagnetics (EM) has been a tried and tested exploration strategy. PBL anticipates this will deliver a clear pathway to discovery via walk up drill targets being generated by the survey.

PBL has contracted UTS Geophysics to complete a heli-borne VTEM Max survey over four areas within all PBL projects totalling 1,915 line km (~380 km2). The survey is focussed on areas within each project considered to have high potential for the discovery of massive copper sulphides. The survey is due to commence in early February and is expected to take two weeks to complete, weather permitting.

Preliminary results are expected in March 2022. Obley Project: PBL has completed a program of surface sampling (soils) targeting the Beehive, Naroo & Coppermine prospects. Three coherent pathfinder anomalies have been defined - Sb and Mo anomalies proximal to the Coppermine Gully workings and an As/Bi/Sn anomaly at Naroo pits.

These pathfinder anomalies indicate potential for Cu-Au mineralization at depth. All of the anomalies are open to the east and so further sampling will be conducted in order to close off anomalies. The planned Airborne EM survey will assist in prioritizing the soil anomalies for drill testing.

Recovery Project: PBL has completed a program of surface sampling (rock lag) targeting the Swanson's Trouble (Swansons) prospect. A coherent 500m x 50-100m Gold (+50ppb) and pathfinder (As, Bi, Mo, Pb, Sb) anomaly has been defined. A maximum value of 5.68g/t Au was recorded proximal to historic workings.

The anomaly is open to the north and south and appears to be associated with a NNW trending structure interpreted from airborne magnetics. Historic shallow drilling1 has tested a small fraction of this anomaly. The anomaly trends under transported cover both to the north and south so auger drilling is planned as a follow up to determine the strike extent of the gold anomaly.

Redlands & Whitbarrow Projects: PBL has completed a program of surface sampling (rock lag) targeting the Miandetta prospect. Results have defined a robust 300m x 400m Ni-Cu+Co anomaly. The anomaly is open to the east and sampling will be extended to cover this area.

The anomaly appears to be intimately associated with a magnetic high which is thought to represent a mafic/ultramafic intrusion at shallow depth. The planned Airborne EM survey will assist in prioritizing this lag geochem anomaly for drill testing. Lunns Dam ­ Auger drilling program: A program of shallow auger drilling is scheduled to commence in late January 2022 targeting prospective rocks under shallow cover along strike from the historic copper mines at Tottenham.

Environmental approval for auger drilling has been received and approximately 400 samples are planned to be collected.