Golden Mile Resources Limited to advised that an 8 hole (~540m) larger size PQ (85mm) diamond drill programme has commenced at its Quicksilver Nickel- Cobalt Project ("Quicksilver" or "the Project") as part of Stage 3 metallurgical test work ("Met Test Programme"). The 100% owned Quicksilver Nickel-Cobalt deposit has an Indicated and Inferred Resource of 26.3Mt @ 0.64% Nickel ("Ni") & 0.04% Cobalt ("Co") (cut-off grade >0.5% Ni or >0.05% Co) which contains approximately 168,500 tonnes of nickel metal and 11,300 tonnes of cobalt metal1. During the previous 12 months the Company has been working on a potential pathway to unlock the value of this large resource.

Stage 2 metallurgical test work completed last year significantly developed the understanding of the unique saprolitic mineralisation at Quicksilver resulting in the identification of a customised multi- products flowsheet to produce nickel-cobalt and iron-nickel-cobalt-chromium concentrates as well as industrial products2. The process would be low energy using the physical attributes of the free digging ore. Golden Mile is continuing to develop the metallurgical flowsheet and is gaining more confidence in the process with results to date encouraging the Company to continue this work.

The Company has now commenced Stage 3 metallurgical diamond drilling and test work to further de-risk the process flowsheet and provide confidence to proceed to a scoping study. The Company will also incorporate additional studies to explore downstream options to produce secondary nickel products suitable for electric vehicle (EV) batteries as well as high value industrial products which may add further value but is not required for the current business model. The holes have been planned in areas of the orebody with the thickest part of the block model, to optimize the amount of sample that can be used in the Met Test Programme.

Wood PLC has been tasked to design and manage the metallurgical test work program, which will be completed at Bureau Veritas in Canning Vale, and have requested diamond core intervals sufficient to provide 100kg per bulk sample, totalling 1600kg of sample. It was also recently announced that Quicksilver has significant Rare Earth Element ("REE") potential3. It is anticipated that there will be sufficient sample remaining from the larger diameter PQ diamond core to also commence investigations into the metallurgical properties of the REE mineralisation.