• High grade gold up to 62.3g/t intersected 140m below previous deepest intercepts
• High-grade gold mineralisation now extends more than 500m vertically and remains open
• Exploration accelerated with second diamond rig mobilised to test broader Happy Valley Trend

Advance Metals Ltd (ASX:AVM) has announced the return of high-grade gold assays from the deepest drill hole to date at its Happy Valley deposit in the Myrtleford Project, located in the prolific Victorian Goldfields. Recent hole AMD014A intersected 3.7 metres at 16.6g/t Au from 464.5m, including 0.8 metres at 62.3g/t Au, representing a major step-down from the previous deepest intersection and extending the high-grade mineralisation by at least 140 metres. This confirms the system has substantial depth potential, with the high-grade gold mineralisation now extending more than 500 metres vertically and remaining open in all directions. The company has accelerated exploration along the broader Happy Valley Trend, with a second diamond rig now mobilised to commence drilling at the nearby Queen of the Hills prospect, which has never been subject to modern exploration. The high-impact drilling programs are fully funded following a recent $13 million placement.

Advance Metals will continue drilling at the Happy Valley deposit for the rest of 2025 and into 2026, with new holes designed to test the continuity and grade distribution around the exceptional intercept in AMD014A. The company is also actively testing the broader Happy Valley Trend, with a second rig mobilised to the nearby Queen of the Hills prospect, which represents the first modern drilling of this historic gold mining area.