• Tier-One Jurisdiction: Located in Brazil's prolific Tapajós Gold Province
• Historical Resource: VG1 prospect contains 336,000oz Au at 1.23g/t
• Open & Scalable System: Mineralisation remains open along strike and at depth

Australian Mines Limited (ASX: AUZ) has entered into a legally binding Term Sheet with Cabral Resources Limited, a 100% subsidiary of GoldMining Inc., and Majestic D&M Holdings, LLC to earn-in to the Boa Vista Gold Project located in the highly prospective Tapajós Gold Province, Pará State, northern Brazil. The Boa Vista Gold Project is situated in a Tier-One jurisdiction and hosts a historical inferred resource of 8.47Mt @ 1.23g/t Au for 336,000oz at the VG1 prospect. The mineralisation at VG1 remains open along strike and at depth, with broad, continuous gold zones extending ~600m in strike and up to 85m in width. Drilling has intersected thick zones of gold mineralisation from surface, including high-grade intercepts such as 104.5m @ 1.59g/t Au and 102.3m @ 1.18g/t Au. The project also exhibits excellent metallurgical recoveries of over 95%, with up to 60% Au recovered via simple gravity methods. The large 9,201ha tenement package has multiple high-priority exploration targets, and the project is strategically located near GoldMining Inc.'s São Jorge project, underscoring the district's exploration potential. Australian Mines plans to commence LiDAR and Magnetic Surveys, followed by an initial 3,000m diamond drill program to test expansion potential and refine targets.

Australian Mines plans to rapidly progress exploration at the Boa Vista Gold Project with a view to defining a substantial JORC resource in the near term.