Stavely Minerals Limited announced that it has taken a key step towards unlocking the potential of its 100%-owned Stavely Copper-Gold Project in Western Victoria with the completion an initial Mineral Resource Estimate (MRE) for the exciting Cayley Lode copper-gold-silver deposit. The initial MRE marks the culmination of an intensive two-and-a-half-year resource drill-out of the Cayley Lode discovery (and multiple parallel lodes). Together with revised MRE's for the chalcocite- enriched blanket at Thursday's Gossan and the Carroll's copper-gold-silver-zinc deposit at the Ararat Project, this has resulted in a substantial increase in Stavely's Mineral Resource inventory in Western Victoria ­ putting it on a clear trajectory towards development. Stavely has estimated an Exploration Target based upon extending the Carroll's VMS coper-gold-silver-zinc mineralisation from its currently defined surface to ~250m depth a further 250m vertically to 500m depth ­ effectively doubling the known extent of mineralisation. This Exploration Target is considered reasonable given that the mineralisation remains open at depth and the expected feeder-zone stockwork mineralisation and exhalation point sulphide mound, typically associated with this style of mineralisation, have yet to be identified. With respect to the Carroll's Exploration Target, the potential quantity and grade is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resource increase and it is
uncertain that further exploration will result in the estimation of an increased Mineral Resource.