Ann: Penny West auger program uncovers priority targets, page-2

From announcement:

"Key Points• Sample results have been received and interpreted for the augergeochemistry program conducted in 2018.

• Gold results up to 477 ppb gold against a median of just 4 ppb

• Five high priority targets have been identified from a total of 18 anomalies.

• Results have highlighted important structural features.

• A potential pegmatite has been discovered around the Youangarra Eastprospect.

• The Columbia-Magenta Prospect, 2km north of the Penny West deposit,emerges as an area of future gold focus.• Mineralisation previously identified at Magenta remains open to the southdown plunge, with Columbia open to the south west.

• A maiden 4,500m Reverse Circulation (RC) drilling program is scheduled tocommence late January/early February targeting high grade mineralisationbelow the Penny West open pit, a possible off-set position of the PennyWest lode to the north and depth and plunge extensions at Magenta.

Commenting on the results of the program, Paul Adams, Managing Director forSpectrum Metals said “We are delighted with the results from the geochemistryprogram which is very timely as we have been able to incorporate thisinformation into our upcoming RC drill program at Penny West. The results havecontributed greatly to our understanding of the project and highlighted severalnew areas of prospectivity to the north of the historic open pit that have a highpriority for further work”.