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New Murchison Gold (ASX:NMG) intersects 14m at 231.67g/t gold beneath Crown Prince open pit

Jane Morgan Management

29 October 2026 Perth, WA 

New Murchison Gold Limited has reported an exceptional high-grade gold intersection from resource extension drilling at its Crown Prince Gold Mine, part of the Garden Gully Gold Project near Meekatharra, Western Australia, highlighting the potential for further resource growth as the Company continues to evaluate an underground mining operation.

Reverse circulation (RC) drill hole CPRC030 returned 14m at 231.67g/t gold from 80m, including 4m at 805.2g/t gold from 80m and 1m at 2,860g/t gold from 82m.

Visible gold was identified in drill chips from the high-grade interval, with the 2,860g/t sample representing the highest-grade one-metre RC sample recorded in the Company's Garden Gully drilling database.

The intersection is located outside the current Crown Prince Mineral Resource interpretation, beneath the final open-pit shell and close to the proposed underground mine design.

The result adds to the Company's growing body of high-grade drilling evidence beneath Crown Prince, where technical studies are underway to assess the potential development of an underground mining operation.

New Murchison Gold CEO Alex Passmore commented:

“We are very pleased with this exceptional high-grade result from our recent near mine extensional drilling at Crown Prince. CPRC030 has returned the highest-grade RC sample we have recorded at Garden Gully, and 14 metres at over 200g/t gold. The intersection is close to the proposed underground mine design and outside the current Mineral Resource, highlighting the potential for further resource growth as we continue to evaluate the underground opportunity. Together with CPRC008 and our earlier SEZ results, the case for a Crown Prince underground continues to build.”

High-grade gold intersection extends Crown Prince mineralisation

The latest results come from an 18-hole RC drilling program targeting the MOB and NOB areas in the northern part of the Crown Prince deposit, beneath the existing open pit.

The program comprised seven RC holes totalling 1,900m drilled from surface on the western side of the pit and 11 RC holes totalling 1,191m drilled from within the Stage 2 Crown Prince open pit.

Assays have been received for 12 of the 18 holes.

Drill hole CPRC030, completed from a drill pad approximately 50m below natural surface, intersected a high-grade quartz-veined zone containing visible gold.

The standout intersection of 14m at 231.67g/t gold included a one-metre sample that initially returned 2,620g/t gold. A repeat laboratory assay returned 3,100g/t gold, with the reported grade of 2,860g/t representing the average of the two results.

The Company interprets the mineralisation as a discrete high-grade quartz vein shoot hosted in chlorite–talc ultramafic schist.

While the orientation, plunge and continuity of the shoot are not yet known, the result highlights an area for further drilling and geological evaluation.

Assays remain pending for nearby drill holes CPRC026, CPRC034, CPRC037 and CPRC038, which will assist in better defining the mineralised zone.

Surface drilling identifies additional high-grade zones

Additional high-grade results were returned from surface drill hole CPRC008, located approximately 125m west of CPRC030.

The hole intersected two high-grade gold zones:

• 3m at 14.9g/t gold from 181m, including 1m at 22.9g/t gold from 182m.

• 4m at 13.5g/t gold from 192m, including 1m at 36.0g/t gold from 193m.

The intersections occur in smoky quartz veins within sheared mafic schist, approximately 160m below natural surface.

They are located approximately 120m vertically above a previously reported intersection in drill hole NGGRCDD1184, which returned 3.2m at 48.9g/t gold from 330m, including 0.35m at 345.5g/t gold.

The results suggest a possible vertically extensive high-grade quartz vein–shear system on the western side of the MOB/NOB area, which will be tested through further drilling.

Assays for surface drill hole CPRC009A also remain pending.

Crown Prince underground development potential strengthens

New Murchison Gold is progressing technical studies into the potential development of an underground mine beneath the Crown Prince open pit.

These studies build on the Company's existing Crown Prince Underground Mineral Resource Estimate of 1.45 million tonnes at 3.2g/t gold for 150,400 ounces, reported in September 2026.

The latest high-grade intersections are particularly relevant to the underground evaluation because of their proximity to potential early underground access.

The Company is investigating an initial underground portal approximately 75m below natural surface within the Crown Prince pit, potentially providing access to mineralisation in the NOB and MOB areas outside the current Ore Reserve.

The CPRC030 intersection lies approximately 43m below the proposed portal elevation, while the CPRC008 intersections are approximately 85–95m below it.

High-grade gold intercepts have now been recorded in both the southern SEZ area and the northern MOB/NOB area, approximately 200m apart.

Previous SEZ drilling returned 0.28m at 17,240g/t gold in NGGRCDD974 and 13m at 13.3g/t gold in NRD008.

If the high-grade shoots prove continuous, an underground operation could potentially access several of them using shared decline and ventilation infrastructure.

The Company will undertake further drilling and geological modelling to better understand the geometry and continuity of the high-grade zones, with mining methods, dilution and recovery to be assessed once the mineralisation is more clearly defined.

Next steps

New Murchison Gold is planning additional drilling and technical work to build on the latest high-grade results and progress its underground evaluation.

Planned activities include:

• Completing a diamond twin of CPRC030 to confirm the width and grade of the high-grade zone and provide oriented core for structural interpretation.

• Undertaking step-out diamond and RC drilling around CPRC030 and CPRC008 to better define the orientation, plunge and continuity of the mineralisation.

• Coordinating further drilling with planned geotechnical diamond holes for the proposed underground portal and decline.

• Incorporating the latest drilling results into geological models, future Mineral Resource updates and ongoing underground mining studies.

The results will contribute to the Company's assessment of the underground opportunity beneath its operating Crown Prince Gold Mine.

Note: Reported drilling intersections are downhole lengths, with true widths yet to be established.

Link to HotCopper ASX Release: https://hotcopper.com.au/threads/ann-high-grade-gold-intersection-extends-crown-prince.9411808/

About us:

About New Murchison Gold

New Murchison Gold Limited (ASX) is a mineral exploration and gold mining company which holds a substantial package of tenements in the prolific Murchison goldfield near Meekatharra, Western Australia.

The Company is focused on the Garden Gully Gold Project which comprises a 617km² tenure package covering the Abbotts Greenstone Belt and other key regional structures. The Company operates the Crown Prince Gold Mine and has multiple gold deposits along the belt.

Gold mineralisation in the belt is controlled by major north trending structures and contact zones between felsic and mafic metamorphosed rocks.

The Company made a decision to develop the Crown Prince Gold Mine in June 2025 (ASX 25 June 2025) and commenced production in September 2025. It is currently mining at Crown Prince Operations (two open pits with further developments planned) and is selling gold in ore under an Ore Purchase Agreement (“OPA”) with Big Bell Gold Operations Pty Ltd.

Contact details:

Media Contact

Jane Morgan
Investor and Media Relations
E: [email protected]

Company Contact

Alex Passmore
Chief Executive Officer
New Murchison Gold Limited
E: [email protected]
W: newmurchgold.com.au