Significant Continuation Of 5E PGM Reef Identified At 500M Below Surface

Podium Minerals Limited (ASX: POD, ‘Podium’ or ‘the Company’) is pleased to announce additional 5E PGM1 results have been received for deep diamond core hole PRDD004. In ASX announcement dated 20 April 2022 Podium noted that:

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“Investigation of hole PRDD004 drill core suggests Parks Reef may extend further down the hole beyond post- mineralisation dykes that occur from 586.7m, with further sampling planned on this hole.”

Results for the additional sampling have now been received and show that the mineralisation has been separated by the post-mineralisation dyke. The new intercept in PRDD004 based on ≥1g/t 5E PGM, is outlined below, with its location shown in Figures 1 and 2, and individual sample assay results provided in Appendix B.

Deep hole PRDD004:

• 5.7m at 2.14g/t 5E PGM2 (0.93g/t Pt, 1.02g/t Pd, 0.14g/t Au, 0.03g/t Rh and 0.02g/t Ir) from 581.0m; and
• (NEW) 16m at 1.34g/t 5E PGM (0.63g/t Pt, 0.65g/t Pd, 0.03g/t Au, 0.07g/t Rh and 0.03g/t Ir) from 604.0m
  • including 2.0m at 2.26g/t 5E PGM (0.16g/t Rh and 0.30g/t Ir) from 617.0m

The additional interval intersected in PRDD004 brings the total mineralised intercept to over 20m down-hole. This provides further evidence that the grades and widths of the reef seen throughout the entire 15km strike length down to 200m vertically could persist down to at least 500m vertical. This result provides additional confidence that further evaluation of the reef below 250m vertical may result in additions to the Mineral Resource Estimate.

The intercepts achieved in the other deep holes2 are provided below and in Figure 1.

PRDD003

• 11.7m at 3.71g/t 5E PGM (2.05g/t Pt, 1.36g/t Pd. 0.10g/t Au, 0.14g/t Rh and 0.08g/t Ir) from 666.7m
  
  • including 1.4m at 11.58g/t 5E PGM from 666.7m; and
  • including 2.2m at 9.53g/t 5E PGM from 669.8m

PRDD005

• 14.3m at 1.33g/t 5E PGM (0.61g/t Pt, 0.62g/t Pd. 0.02g/t Au, 0.05g/t Rh and 0.02g/t Ir) from 644.7m

“The results achieved validate our understanding that the post-mineralisation intrusives does not “stope out (replace)” the mineralisation, but rather pushes the intercepts apart (displace). This results in consistent, wide reef intercepts that should present itself for future mine design consideration. This is a great result knowing that widths of up to 20m continue to exist down to 500m vertical”

“This understanding of the interaction of post-mineralisation dykes with mineralised intercepts, combined with the consistent stratigraphic character displayed by all intercepts (upper high-grade Pt-Pd zone and a consistent zone of ≥40ppb Rh in the lower half of the intercept) enables us to know if additional mineralised intercepts can be expected when dyke disruptions occur. The presence of a consistent high-grade 5E PGM zone close to the top of the intercept and a high- value zone associated with Rh in the bottom portion of the intercept provides a number of mining study options”.

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