Announcement • Mar 31
49 Metals Limited Announces Drilling Commences at Gold Mountain 49 Metals Limited has commenced a reverse circulation (RC) drilling program of up to 8,000m at its flagship Gold Mountain Project, located approximately 5km from Tonopah, Nevada, a well-established mining jurisdiction within the Walker Lane Trend. Gold Mountain represents a low-sulphidation epithermal gold-silver system with a large ~10km × 2km mineralised footprint and extensive evidence of historic mining activity dating back to the early 1900s. Historical exploration programs have identified widespread shallow oxide gold mineralisation. Tonogold Resources Inc, the former operator of the Gold Mountain Project, interpreted a foreign resource estimate of 100,000460,000 contained ounces gold equivalents in mineralised (oxidised) material at Gold Mountain. Cautionary Statement: The mineral resource estimate referred to in this announcement is a foreign estimate and is not reported in accordance with the JORC Code (2012). A Competent Person has not done sufficient work to classify the foreign estimate as a Mineral Resource or Ore Reserve in accordance with the JORC Code (2012), and it is uncertain that following evaluation and/or further exploration work the foreign estimate will be able to be reported as a Mineral Resource or Ore Reserve in accordance with the JORC Code (2012). The Company confirms it is not in possession of any new information or data relating to the foreign estimate for the Gold Mountain Project that materially impacts on the reliability of estimates or the Company's ability to verify the foreign estimates as mineral resources in accordance with the JORC Code. The current drilling program is designed to: Test new targets generated from geophysics and field mapping. Follow up historical drilling intersections. Assess the scale and continuity of mineralisation across the system. The program is expected to run for approximately 2-3 months, with results to be released as they become available. 
