• Significant new high-grade zone at Trek 2 completely open to the north below shallow drilling
• 18m @ 5.0% CuEq from 115m in CBRC063 within 35m @ 2.9% CuEq from 105m
• New result is the biggest drill hit to date from all current and historical drilling at Trek 2

Carnaby Resources has received further exploration drill results from the Greater Duchess Project in Mt Isa, Queensland, including a spectacular new drill result of 18m @ 5.0% CuEq at the Trek 2 deposit. The new drill result in CBRC063 is the biggest drill hit to date from all current and historical drilling at Trek 2 and remains completely open at depth under the shallow drilling to the north. The drill result is outside of the current Mineral Resource Estimate (MRE). The northern end of Trek 2 is currently mostly inferred MRE which is not yet contemplated in the PFS open pit design shell, which clearly has excellent growth potential. Further drilling is planned. Carnaby also received results from additional drill holes at Trek 1, which have extended the Main Lode and Footwall Lode to the north. Broad zones of mineralisation were intersected, indicating the potential for the Trek 1 mineralisation to extend laterally along strike to the north and the south.

Further drilling is planned to continue to grow the Trek 2 deposit, which has demonstrated excellent exploration upside. Drilling will also continue at Trek 1 to follow up on the 400m extension discovery.