Javelin Minerals : High Grade Copper and Wide Gold-Copper Intersctions

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28 February 2022

HIGH‐GRADE COPPER AND WIDE GOLD‐COPPER

INTERSECTIONS AT COOGEE

HIGHLIGHTS

New 1m sample assays from the 4th Phase RC drill programme return very high‐grade copper from the Eastern Trend and wide gold‐copper intersections along the Main Trend north of the Coogee pit.

• CORC141: 3m @ 1.08 g/t Au and 5.85% Cu from 155m and 7m @ 2.74% Cu from 155m
  o including 2m @ 1.36 g/ Au and 8.34% Cu from 156m
• CORC151: 16m @ 1.14 g/t Au from 78m, 2m @ 3.31 g/t from 176m, 43m @ 0.65 g/t Au from 183m and 45m @ 0.14% Cu from 183m, including 4m @ 3.17 g/t Au and 0.43% Cu from 218m
• CORC139: 19m @ 1.28g/t Au and 0.15% Cu from 202m including 9m @ 1.75g/t Au and 0.20% Cu from 202m
• CORC143: 13m @ 1.00 g/t Au from 137m including 5m @ 1.96g/t Au from 143m
• CORC153: 2m @ 1.34 g/t Au from 218m

Drilling programme comprising 4,000m of aircore drilling planned to commence in late March on E 26/177, Coogee West area over Lake Lefroy (salt lake).

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Javelin Minerals Limited ("Javelin", ASX: JAV or "the Company") is pleased to announce further encouraging gold and copper assay results from 1m samples collected from the fourth phase RC drilling programme at its Coogee Project ("Coogee"). Coogee is located approximately 55km south‐east of Kalgoorlie and immediately to the west of Silver Lake Resources' Randalls Mill (Figure 4).

Significant 1m gold and copper intercepts are detailed above, and full anomalous results are set out in Appendix 1, Table 1.

Commentary on results

Very high‐grade copper mineralisation in drill hole CORC141 (3m @ 1.08 g/t Au and 5.85% Cu from 152m, including 2m @ 8.34% Cu) has been confirmed by the new 1m sample assays. This intersection is characterised by semi‐massive chalcopyrite at the contact between a sheared mafic and carbonate lithologies. CORC141 has successfully extended the high‐grade copper "shoot" on the Eastern Trend by 40m further north of the Phase 3 drill hole CORC096 (6m @ 0.76 g/t Au and 2.54% Cu). The Eastern Trend has now been defined over 250m and the grade and thickness of this high‐grade shoot is considered very encouraging (Figures 1 and 4) and further drill testing of this shoot/zone is proposed.

Significant gold and coupled with copper intersection in CORC151 of 43m @ 0.65 g/t Au and 45m @ 0.14% Cu from 183m, including 4m @ 3.17 g/t Au and 0.43% Cu is one of the widest moderate grade gold intersections encountered to date north of the Coogee pit. The broad gold‐copper intersection coincides with a change in orientation of the geology and shear zone from subvertical back to moderate west dipping (Figure 2). It is postulated that this gold‐ copper intersection may be a source feeder zone to a "large gold‐copper" system. Deeper drilling is required to further determine its significance and to test this model.

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Figure 1: Coogee Project ‐ illustrating recent and new gold and copper intersections from the Main Trend, Eastern Trend and Coogee North.

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Figure 2: Coogee Main Trend drill section 25620N, 4th Phase drill hole CORC151 below previous drill hole CORC089.

Next Steps

Coogee

Further assessment of the 1m assay results is underway. The next phase of exploration north of the Coogee pit (Phase 5) is expected to comprise diamond and further RC drilling. Diamond drilling is expected to provide structural data over the Main and Eastern trends to determine the controls on gold and copper high grade shoots. RC drilling will test the downdip and down‐plunge extensions of the mineralisation within the Coogee 1km gold‐copper system.

Coogee West/Lake Lefroy

An aircore drill programme is being planned over the 3km gold trend and Coogee West/Lake targets/prospects within E 26/177 (Figure 3).

The Coogee West/Lake prospect is a gold‐copper target centred around a discrete magnetic anomaly, analogous to Coogee North. Aircore drilling conducted by Ramelius Resources Limited in 2015 intersected shallow gold mineralisation up to 1.38 g/t Au. This was followed up with two diamond drillholes which returned broad gold intervals with minor associated copper, peaking at 1.8 g/t Au and 0.17% Cu. Lithologies are consistent with those seen on the

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Coogee Pit trend. Aircore drilling will help to define the full extent of the shallow supergene gold blanket before the testing of primary mineralisation targets later in the year.

In addition, historical aircore drilling in 2015 intersected anomalous bottom of hole of gold values up to 0.47g/t. An encouraging shallow gold intercept of 6m @ 0.48g/t Au from 28m has been outlined by the Goldfields/Lefroy JV immediately south of Javelin's E 26/177 tenement boundary, which adjoins a 3km gold zone with grades of up to 0.47g/t Au within the Coogee Project (Figure 3).

A "lake drill rig" from a leading drilling company based in Kalgoorlie will be used for the Javelin's AC drilling programme over Lake Lefroy area.

Figure 3: Coogee Project E 26/177 ‐ 3km gold trend and Coogee West/Lake prospect location (blue line represents outline of Lake Lefroy salt lake).