Kalgoorlie – King of The West Phase 1 Aircore Drilling Commences

PVW Resources Limited (PVW or the Company) has commenced drilling at the King of The West project. The main auger anomaly is targeted based on the +50ppb Au auger results and the following geological features adding merit to the drill target:

• locationalongstrikefromoperatingmines,themainanomalyis8kmsoutheastfrommineralisationattheGoldenCitiesoperations:Havana,FederalandJakarta openpits.
• location over a major structural feature, parallel to the hinge-line which defines the Scotia - Kanowna Dome and extends northwest to Golden Cities and southeast to Kanowna Belle.
• location over late structures with the same strike as shears and faults hosting the Golden Cities mineralisation, controlled by northeast dipping shears within the hornblende biotite granodiorite.

• The main King of The West auger anomaly, a+2.0kmx1.2kmwide +50ppb Au zone which remains open to the south, is being tested with Aircore drilling.
• Phase1 Air core drilling will target the main +2.0 km x 1.2km anomalous zone with 100m spaced holes on 400m spaced lines.
• Phase2 Air core (proposed for mid-2022) will be prioritised to infill Phase 1 drilling and target other anomalous zones within the current auger coverage. Other targets will be prioritised as required along strike to the northwest and to the southeast within the Scotia – Kanowna Dome hinge zone, or where structure and host rocks are favourable.

The drilling will test for bedrock and paleochannel mineralisation on a 400 x 100m grid, with vertical Aircore drill holes. It is anticipated holes will terminate in fresh bedrock at a depth of 60-90m. Previous drilling has intersected paleochannel clays in some areas, hence the decision for vertical drilling to assist in penetration through the clays. Given the wide drill hole spacing and the transported cover follow up drilling proposed for later in 2022 will target a suitable tenor of Au anomalism based on results from Phase 1 Aircore drilling.

The auger anomaly and anomalous intersections in exploration drilling, provide PVW with multiple targets between King of The West and Norton Gold Fields operations at Golden Cities.

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