• Indicated Silver-Lead MRE within Starter Zone grows 2.5 times to 5.3 Mt at 5.2% lead, 116 g/t silver
• Maiden Indicated Copper-Gold MRE of 1.6 Mt at 0.77% copper, 0.67 g/t gold and 10 g/t silver
• Robust geological and grade continuity allows near 100% conversion of Inferred to Indicated resources

Maronan Metals Ltd has announced a significant update to the Mineral Resource Estimate (MRE) for its large Maronan Silver-Lead and Copper-Gold deposit. Infill drilling focused on the shallow Starter Zone has more than doubled the tonnage of the Indicated Silver-Lead MRE to 5.3 Mt at 5.2% lead and 116 g/t silver. Additionally, the infill drilling has outlined a maiden Indicated Copper-Gold MRE of 1.6 Mt at 0.77% copper, 0.67 g/t gold and 10 g/t silver within the Starter Zone. The company has highlighted the very strong geological and grade continuity of the bedded lead-silver and copper-gold mineralisation at Maronan, which has allowed for a near 100% conversion of resources from the Inferred to Indicated category with no significant change in tonnage, grade or total metal content. This robustness is seen as a defining characteristic of the Maronan deposit and increases the company's confidence in the mineability of the larger Global Inferred and Indicated MRE of 33.1 Mt at 6.0% lead and 108 g/t silver. The shallow Indicated Copper-Gold MRE is the top of a much larger ore body that extends at depth and remains open down-plunge, with the Global Inferred plus Indicated Copper-Gold MRE estimated at 32.0 Mt at 0.85% copper, 0.63 g/t gold and 7 g/t silver. The company has undertaken a systematic program of project risk reduction, including over 27,000 metres of new diamond drilling, re-logging of historic drill core, and the engagement of geology consultants to develop robust 3D geological models. This work has underpinned the significant growth in the Indicated resource base and the company's confidence in the Maronan deposit.

The company has not provided any high-importance, price-sensitive forward-looking financial metrics or guidance.

The company has stated that an updated mine plan will be prepared using the new mineral resource models during the coming months. Geotechnical and metallurgical testwork is ongoing, and the company is progressing a Mineral Development License application to enable further evaluation and development of the deposit.