Accent Resources NL provide the following update on exploration activities including preliminary results from the drilling at the Company's Magnetite Range Project (`MRP') in the Mid-West region of Western Australia. As previously announced, a total of 57 RCP drill holes for 9,861m were drilled across the Julia deposit at the Company's MRP in Third Quarter of 2021. The drilling was designed to infill historical drilling across Julia down to a nominal 100m (east) by 50m (north) spacing, with the aim of increasing confidence in the geological interpretations and to support an updated MRE planned to be undertaken in 2022.

CSA Global have commenced cross sectional geological interpretations, integrating the 2021 drill hole data with historical data. The objective of the interpretation will be to identify and delineate via geological domaining the higher Fe grade magnetite domains with low deleterious elements. Preliminary interpretations based on head assay results and geological logging of the RCP chips are consistent with the historical geological model and include: Two distinct banded iron formation (BIF) units are present along the strike length of the Julia deposit ­ referred to as the Upper BIF and Lower BIF.

The BIF units host the magnetite mineralisation that is the focus of the Company's exploration programme at MRP and are stratigraphically part of the Windanning Formation. The thicknesses of the BIF intervals vary along strike and down dip, likely representing a combination of post depositional layer parallel folding and faulting as well as syn-depositional soft sediment slumping. The magnetite mineralisation within the Upper BIF has a greater concentration of sulphide alteration in the form of blebby, disseminated pyrite and pyrrhotite.

The Lower BIF typically hosts only trace fine grained pyrite and pyrrhotite sulphide alteration. The BIF units are separated by a non-magnetic volcanic tuff unit that appears to have a bimodal composition from mafic to felsic and like the BIF, varies in thickness along strike and down dip. The hangingwall and footwall to the BIF are comprised of felsic, mafic, and ultramafic volcanics, with a mineral assemblage that reflects lower to upper amphibolite grade regional metamorphism.

The overall package dips to the north at an average of 45 to 50 degrees. An update to the current mineral resource estimate over the Julia deposit is planned in 2022. Additionally, the Company has commenced planning further infill RCP drilling across the `core' of the Julia deposit where the thickest intercepts of BIF have been identified through historical work and confirmed by the 2021 drilling programme.

This next round of infill drilling is scheduled for Second Quarter 2022.