High Grade Maiden Copper Resource At Wirlong

Peel Mining Ltd (ASX Code: PEX) ("Peel" or "the Company") is pleased to report a maiden Indicated & Inferred Mineral Resource Estimate for its 100% owned Wirlong copper deposit located ~70km SSE of Cobar in Western NSW. The MRE provides Peel with further foundation to its copper first development strategy, adding further copper-rich resources to Peel's high-grade Mallee Bull copper deposit.

KEY POINTS:

• Maiden Indicated and Inferred Mineral Resource Estimate (MRE) for Wirlong delivers 2.45Mt@2.4%Cu,8.7g/tAgfor57,900tcontainedcopperand686,000ozcontained silver.
• Wirlong MRE contains five lenses with the MBX lens hosting 1.38Mt @ 2.9% Cu, 10.5g/tAg.
• The MRE uses a A$90/t Net Smelter Return (NSR) cutoff to generate mineable shapes (utilising Stope Shape Optimisation) including minimum mining widths and internal dilution.
• The MRE, combined with ongoing infill and extensional drilling, provides the basis for scoping study work to better understand the potential development opportunities available.
• Wirlong remains open along strike and down dip, particularly to the southeast following on from recently reported drillhole WLDD040 which returned 205m @ 1.4% Cu, 3g/t Ag from 434m1

'PEEL MINING MANAGING DIRECTOR ROB TYSON COMMENTED:

"Weareverypleasedtodeliveramaidenhigh-gradecopperresourceforWirlong,furtherbolstering Peel'sCobarBasinglobalresources,andparticularlytheCompany'scopperfirststrategy.

"The strong copper mineralisation hosted within the main MBX lens has provided a solid base for the MRE, hosting around 69% of the MRE's contained copper, while the other lenses highlight the widespread copper endowment and the clear potential for Wirlong to grow.

"ThisMREisanexcellentfoundation,anditisanticipatedthatongoinginfillandextensionaldrilling will improve and expand this copper-rich mineralsystem."

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