AUSTAR GOLD UPDATE: McNALLY’S REEF INTERSECTED WITH VISIBLE GOLD...

AUSTAR GOLD UPDATE: McNALLY’S REEF INTERSECTED WITH VISIBLE GOLD OBSERVED Highlights ✓ McNally’s Reef intersected in development as predicted by the geological model ✓ Visible gold observed within the quartz reef ✓ Mine development to continue along this gold-bearing quartz structure ✓ McNally’s mine material being stockpiled for processing in March AuStar Gold Limited (ASX: AUL) has made excellent progress in underground development to enable mining and processing of gold from the historic Morning Star gold mine in the eastern goldfields of Victoria. Underground development work has intersected the targeted McNally’s Reef structure as expected, in line with the geological model, and visible gold has been encountered in the exposed face. Mined gold bearing material from McNally’s Reef is presently being stockpiled for imminent processing. Development Update Rail development towards the interpreted eastern boundary of the McNally’s Reef commenced early in February. On 25th February the Reef was successfully intersected in the geologically interpreted position. Firing of the heading on 26th February further exposed the Reef with visible gold showing in the face. An alteration halo of pyrite and arsenopyrite extends above and below the reef. Photo1: McNally’s Reef Showing Abundant Free Gold.