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Advance Metals (ASX:AVM) expands gold footprint at Happy Valley with strong maiden drilling results

Jane Morgan Management

Key Facts:

• Maiden regional drilling at Happy Valley Project's Queen of the Hills Prospect revealed significant gold intercepts, including 4m at 2.4g/t Au and 3.2m at 1.4g/t Au
• Four diamond drill holes completed across Queen of the Hills and Sheards Prospect, with assays pending for two additional holes at Sheards
• High-grade results from main Happy Valley deposit include 0.6m at 66.7g/t Au from 51.3m
• Historical workings in shallow and southeastern zones remain largely untested and are now being targeted for drilling
• Metallurgical test work commenced to assess low-cost gravity recovery options, with results expected next quarter

Advance Metals expands gold footprint at Happy Valley with strong maiden drilling results

Advance Metals Limited (ASX: AVM) has expanded the gold footprint at its Happy Valley Project in Victoria, with maiden regional drilling confirming new zones of mineralisation and highlighting the potential for a system-scale gold opportunity.

Initial drilling at the Queen of the Hills Prospect, located 4.5km east-southeast of the Happy Valley Mine, has returned encouraging gold intercepts, including:

• 4m at 2.4g/t Au from 102.2m (incl. 0.8m at 5.1g/t Au and 0.6m at 7.7g/t Au)

• 3.2m at 1.4g/t Au from 280.6m (incl. 0.8m at 5.1g/t Au)

The results mark the first drilling undertaken outside the main Happy Valley deposit and confirm mineralisation across multiple prospects along the broader 13km Happy Valley trend.

The Company has completed four diamond drill holes across Queen of the Hills and the nearby Sheards Prospect, with assays pending for two additional holes at Sheards. Ongoing drilling at the core Happy Valley deposit is targeting extensions of known high-grade mineralisation at depth, with results pending from three deep holes.

The Company’s technical team has also identified significant upside from historical workings, particularly in shallow and southeastern zones that remain largely untested by modern drilling. These areas are now being actively targeted, with further drilling underway.

Recent results from the main Happy Valley deposit continue to demonstrate high-grade potential, including:

• 0.6m at 66.7g/t Au from 51.3m

• 0.9m at 1.5g/t Au from 227.2m

In parallel, Advance has commenced metallurgical test work aimed at assessing low-cost gravity recovery options, reflecting the coarse or nuggetty nature of the gold mineralisation. Initial results from this program are expected next quarter.

Next steps

Upcoming catalysts for the project include:

• Assay results from regional drilling at Sheards

• Results from deep drilling targeting extensions at Happy Valley

• Continued drilling focused on shallow high-grade zones

• Initial metallurgical test work outcomes supporting potential processing pathways

The Happy Valley Project forms part of the Myrtleford Project in the prolific Victorian Goldfields, an area known for historic high-grade gold production and increasing modern exploration success.

About us:

About Advance Metals

Advance Metals Limited (ASX:AVM) is an Australian-based exploration company focused on the discovery and development of high-quality, high-grade silver and gold assets in Mexico. With an experienced management team and a strategy underpinned by aggressive exploration and strategic growth, the Company is positioned to become a significant participant in the silver-gold sector.

Contact details:

Jane Morgan
Investor & Media Relations Manager
Advance Metals Limited
+61 (0) 405 555 618
[email protected]