Central Iron Ore Ltd. announced the soil geochemistry results from the Phase 2 soil sampling at the South Darlot Gold Project, conducted in fourth quarter of 2022. The Company's South Darlot Gold Project area is located approximately 320km northwest of Kalgoorlie in Western Australia and includes: The British King Mine which is 49% owned by the Company and which is National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI43-101") compliant. The British King Mine is 5km southwest of Red 5 Limited's Darlot Mine.

The British King Mine is currently in care and maintenance. A number of tenements which are subject to a joint venture with subsidiaries of Red 5 Limited, details of which are set out below, in which CIO has earned a 70% interest. The tenements set out in the table below are the subject of a joint venture between the Company and subsidiaries of Red 5 Limited and are situated southwest of Red 5's Darlot gold mine and are contiguous with CIO's current holdings in the area.

Following the success of the Phase 1 soil sampling campaign over the Endeavour and Mermaid prospects, a Phase 2 soil sampling campaign was conducted to the west, north and east of the previously sampled area. Au enrichment in the area is interpreted to be sourced from the several structures which strike WSE-ENE throughout the tenements and in structural dilation zones caused by strike-slip movement of orthogonal smaller structures. A total of 3,864 samples were collected across an area of 3.2 km2.

achieved samples 200 - 300 grams in weight were collected from each location and sent to LabWest Minerals Analysis Pty Ltd. in Malaga, WA.