• An underground drill rig has mobilised to site and drilling has commenced
• Drilling is testing priority discovery targets, gabbro veining, and the hangingwall zone
• Drilling results are expected from March 2025

Black Cat Syndicate Limited (ASX:BC8) is pleased to provide an update on underground drilling activities at the Paulsens Gold Operation. An underground drill rig has mobilised to site, and drilling has commenced. The drilling is initially testing priority discovery targets underground, including the gabbro veining and the hangingwall zone. Extensive drill plans have also been designed to expand Resources and optimise mine development going forward. The Company expects the drill rig to be turning for the foreseeable future as it defines and grows the Resource and mine life at Paulsens. The priority targets include grade control drilling to support current mining activities, extensional drilling to grow the Resource (including the Galileo, Mir, and footwall gabbro veins), and exploration drilling targeting new discoveries in the hangingwall zone. Drilling results are expected to be received from March 2025.