Outstanding infill drill results at Brolga

• Infill drilling confirms consistency of mineralisation at Brolga deposit
• Drilling covers first 12 months of ore production, supporting Hemi DFS mine plan
• Brolga Stage 1 pit contains 26.9Mt @ 1.64g/t Au for 1.42Moz of contained gold

De Grey Mining Ltd has reported outstanding infill grade control drilling results from the Brolga deposit at the Hemi Gold Project. The infill drilling was conducted to allow detailed ore production, stockpiling and plant feed scheduling for the critical commissioning and ramp-up phase at Hemi. The drilling has reduced the drill spacing from 40m lines and 40m collars to 20m lines with 40 metre collars, with approximately 60% of assays received so far. The results are expected to convert the Mineral Resource covering the first year of ore production at Brolga from a JORC Indicated to JORC Measured Resource classification. The drilling has confirmed the consistency of mineralisation at the Mineral Resource cut-off grade of 0.3g/t Au and at the Hemi DFS Mineral Reserve cut-off grade of approximately 0.5g/t Au. The Brolga Stage 1 pit contains a Probable Ore Reserve of 26.9Mt @ 1.64g/t for 1.42Moz of contained gold at a strip ratio of 2.4:1. The operating cost, including pre-strip, of the Brolga Stage 1 pit was estimated in the DFS to be approximately A$965/oz, delivering free cashflow of approximately A$2,200M at the DFS gold price of A$2,700/oz and paying back the capital cost of the Project in under two years.

The Brolga Stage 1 pit contains a Probable Ore Reserve of 26.9Mt @ 1.64g/t for 1.42Moz of contained gold at a strip ratio of 2.4:1. The operating cost, including pre-strip, of the Brolga Stage 1 pit was estimated in the DFS to be approximately A$965/oz, delivering free cashflow of approximately A$2,200M at the DFS gold price of A$2,700/oz and paying back the capital cost of the Project in under two years.