Lefroy Exploration Limited reported further assay results from drilling completed at the Burns Copper (Cu)-Gold (Au) Project ("Burns"). Burns is within the Company's wholly owned Eastern Lefroy Gold Project located 70km southeast of Kalgoorlie, Western Australia. Burns is an intrusion-related Cu-Au-molybdenum (Mo)-silver (Ag) mineral system, hosted by Archaean age diorite-porphyry intrusives and basalt with a distinct aeromagnetic signature.

The results are from 24 reverse circulation (RC) drill holes and two diamond drill holes (LEFD006 & LEFD007a) which are all on consecutive drill sections extending 240m south of the discovery or Baseline (0N) section. The program was completed in December 2022, with 67 RC holes for 16,635m of drilling, being completed both on land and on Lake Randall. The data from this program, when combined with previous drilling data, will support the compilation of a MRE, scheduled to be finalised in first quarter 2023, subject to receival of final assay results.

The Burns Central RC Resource drill program was completed in December 2022 and consisted of 67 RC holes which evaluated an area of 540mx400m to approximately 200m vertical depth from surface. Gold and multi-element (ME) results were reported in December 2022 for 4 of these holes. Gold and ME assay results have now been received for a further 24 RC drillholes (LEFR336- LEFR360) covering 240m of strike to the south of the Baseline Discovery Section.

Multiple, thick intervals (between 70 and 210m thick) of copper, gold, and silver alkalic porphyry-style mineralisation have been intersected in the Western Basalt zone. Many of these intersections commence immediately at the base of the alluvium cover, at a depth range of 24-27m. Summaries of some results, by Cross Section location, are shown below.

A number of the thick intervals of (prima facie economic grade) mineralisation include high to very high-grade zones. Several holes have ended in mineralisation so will need to be extended at a later date. LEFR355 ­ 149m of mineralisation between 27m and EOH at 204m, including: 66m at 0.85% Cu, 0.40g/t Au and 2.15g/t Ag from 27m, which includes.

8m at 3.77% Cu, 1.97g/t Au and 10.39 g/t Ag from 56m, which includes. 1m at 11.2% Cu, 1.58g/t Au and 16g/t Ag, plus 0.02% Co, 263ppm Mo. LEFR349 ­ 111m of mineralisation between 24m and EOH at 150m, including: 78m at 0.64% Cu, 0.35g/t Au, and 1.08g/t Ag from 24m, which includes, 8m at 1.20% Cu, 0.19g/t Au and 1.69g/t Ag from 29m, and 6m at 4.00% Cu, 1.85g/t Au and 7.17g/t Ag from 78m.

LEFR354 ­ 210m of mineralisation between 24m and 245m, including: 141m at 0.35% Cu, 0.31g/t Au and 0.98g/t Ag from 24m. 120S Cross Section: LEFR344 ­ 70m at 0.46% Cu, 0.34g/t Au and 1.20g/t Ag from 215m, including: 4m at 2.74% Cu, 1.91g/t Au and 7.38g/t Ag, plus 0.02% Co, from 256m, which includes 1m at 5.61% Cu, 2.56g/t Au and 12.5 g/t Ag, plus 0.02% Co, from 258m. LEFR347 ­ 110m of mineralisation between 24m and 196m, including: 69m at 0.86% Cu, 0.41g/t Au and 2.06 g/t Ag from 24m, including.

6m at 4.03% Cu, 2.12g/t Au and 11.17g/t Ag from 79m, which includes: 2m at 8.54% Cu, 4.11g/t Au and 21.75g/t Ag plus 0.03% Co and 1255ppm Mo from 81m.