Established Australian copper-gold producer and explorer, Aeris Resources Limited (ASX: AIS) (Aeris or the Company) is pleased to provide an exploration update at the Company's 100% owned Tritton Operation in New South Wales. Aeris' Executive Chairman, Andre Labuschagne, said 'We continue to be excited by both the greenfields and brownfields copper exploration potential on our Tritton tenement package.'

'Airborne EM (AEM) surveys have proven to be an effective method for identifying potential sulphide deposits down to 300m below surface, and was how we first identified the Constellation deposit. The latest AEM program conducted in 2022 has resulted in 14 high potential anomalies being identified. Our next step will be to conduct ground based EM on each of these to determine if they are legitimate bedrock conductors, which we would then test with drilling.' 'The assays from the Kurrajong drilling program are very encouraging and we expect to report a maiden mineral resource for Kurrajong towards the end of the March quarter.'

'A common characteristic of deposits on the Tritton tenement package is downplunge continuity of mineralisation. Recent drilling at both the Murrawombie and Avoca Tank deposits has identified strong potential for mineralisation at both of these deposits to continue below the current mineral resources.' 'Over the last two years we have embarked on a systematic program to understand the geochemical signatures at each of our known deposits and then use this information to try to identify analogues across our tenement package. The planned two hole drilling program at the 5M7 prospect is a direct result of this work, as we seek to test for potential mineralisation at depth, adjacent to two geochemical anomalies that have been identified.

Tritton Exploration

Aeris holds a large tenement package, totalling 2,330km2, within the Girilambone basin, and which remains highly prospective for copper rich mineral deposits. Within the Company's tenement package, more than 750kt of copper metal has been discovered to date within the southern half, which has historically been the focus of exploration activities. In recent years Aeris has focused efforts within the northern half of the tenement package. Airborne electromagnetic (AEM) surveys have proven to be a reliable exploration tool for first pass detection of large, conductive massive sulphide deposits to 300m below surface

For smaller massive sulphide or poorly conductive sulphide bodies, the Company is using geochemistry to assist with vectoring. A significant amount of work has been completed to understand the geochemical signature of the known deposits, in particular which elements are anomalous surrounding a copper sulphide deposit and how each element concentration changes at increasing distances from the deposit. Understanding the geochemical footprint can be used to assist with identifying buried copper sulphide deposits and over the last 18 months the Company has deployed a ute mounted auger rig to undertake a regional geochemical sampling program over prospective areas within the tenement package.

Airborne Electromagnetic Survey

Several AEM surveys were completed between 2018 and 2019, which led to the discovery of the Constellation deposit in November 2019. The Constellation deposit is an important discovery for the Company, being the first deposit found within the under-explored northern half of the tenement package, highlighting the significant potential for further discoveries with continued exploration. The current Constellation Mineral Resource contains 123kt of copper metal and 125kt of gold metal3. The deposit remains open down-plunge with modelled EM conductors yet to be tested below the current Mineral Resource. In May 2022, an AEM survey was flown, covering 604km-2, over the northernmost portions of the tenement package. This AEM survey, utilising the VTEM Max airborne EM system, was designed and optimised to test for conductive bodies to a nominal 300m below surface. Data collected from the survey has been finalised and interpreted.

Contact:

Mr. Andre Labuschagne

Executive Chairman

Tel: +61 7 3034 6200

WEB: www.aerisresources.com.au

Media

Madeleine Thornton

Tel: 0402 580 802

About Aeris

Aeris Resources is a mid-tier base and precious metals producer. Its copper dominant portfolio comprises four operating assets, a long-life development project and a highly prospective exploration portfolio, spanning Queensland, Western Australia, New South Wales and Victoria, with headquarters in Brisbane. Aeris has a strong pipeline of organic growth projects, an aggressive exploration program and continues to investigate strategic merger and acquisition opportunities. The Company's experienced board and management team bring significant corporate and technical expertise to a lean operating model. Aeris is committed to building strong partnerships with its key community, investment and workforce stakeholders.

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