Aeris Resources Limited – DRILLING UPDATE IN JAGUAR HIGH-GRADE INTERSECTIONS AT TURBO LENS AND JAVA DEEPS TARGET OPERATIONS

Established Australian copper-gold producer and explorer, Aeris Resources Limited (ASX: AIS) (Aeris or the Company) is pleased to provide an update on resource definition and exploration drilling results at the Company’s Jaguar Operations at Western Australia. Executive Chairman of Aeris, André Labuschagne, said: “When we acquired the Round Oak assets, we were convinced that Jaguar’s operations offered great value-added potential, and this recent drilling demonstrates this.” ‘The newly discovered high quality Turbo lens has doubled in stroke length and is still open when diving. Turbo offers excellent potential to extend Bentley’s underground mine life and will be a priority for further drilling this fiscal year. An update to the Turbo Mineral Resource is expected this quarter. “In addition, a number of other lenses have been identified at depth but have been subject to limited drilling. Latest drill results from Java Deeps show exciting high-grade intersections that will be followed by further exploration drilling.”

Background:

The Jaguar operation is located 60 km north of the town of Leonora and 300 km north of Kalgoorlie in Western Australia. Currently, underground mining is conducted at the Bentley (Bentley) deposit, which is one of the four main base metal deposits of the Jaguar operation (see Figure 1). The Bentley deposit consists of several lenses and is considered very promising for new discoveries. The Jaguar operation is promising for polymetallic (Cu-Zn-Ag-Au) volcanic massive sulphide (VMS) deposits. Four significant deposits have been discovered within the Jaguar building complex, including Teutonic Bore (1975), Jaguar (2002), Bentley (2008) and Triumph (2014). The deposits are located along a favorable northwest-southeast trending stratigraphic corridor that extends through all of the concessions. In general, the mineralization in each deposit is similar, with massive sulphides interpreted to form via submarine replacement of sedimentary packages at the interface with underlying volcanic sequences. Three different styles of mineralization are common to the entire Jaguar Operation building; massive, smooth and disseminated. The massive sulphides are stratoidal and host lenses with high Cu-Zn+/- Pb, Ag, Au content. In a massive sulphide lens, metallic zoning may manifest as discrete inner horizons of high-grade copper or high-grade zinc. Alternatively, a massive sulphide lens could be predominantly copper or zinc rich. Lead, silver and gold are also present in varying amounts. Disseminated sulphide and stringer horizons generally have lower grade and more erratic lateral continuity.

Contact:

Mr. André Labuschagne

Executive Chairman

Tel: +61 7 3034 6200

Website: www.aerisresources.com.au

Media

Madeleine Thorton

Tel: 0402 580 802

About Aeris

Aéris Resources is an intermediate producer of base metals and precious metals. Its copper-dominated portfolio includes four operating assets, a long-term development project and a very promising exploration portfolio, covering queensland, Western Australia, New South Wales and Victoriawhose head office is at Brisbane. Aeris has a strong pipeline of organic growth projects, an aggressive exploration program and continues to explore strategic merger and acquisition opportunities. The company’s experienced board and management team bring significant business and technical expertise to a lean operating model. Aeris is committed to building strong partnerships with its key community, investment and workforce stakeholders.

Declaration of competent persons

Mr Cox confirms that he is the competent person for all exploration results summarized in this report and that he has read and understood the requirements of the 2012 Edition of the Australasian Code for the Reporting of Exploration Results, Mineral Resources and ore reserves (JORC code, 2012 edition). Mr Cox is a competent person as defined by the JORC Code, 2012 edition, with experience relevant to the style of mineralization and type of deposit described in the report and to the activity for which he accepts responsibility. Mr Cox is a member of the Australasian Institute of Mining and Metallurgy (MAusIMM #220544). Mr Cox has reviewed the report to which this consent statement applies and consents to the inclusion in the report of matters based on its information in the form and context in which it appears. Mr Cox is a full-time employee of Aeris Resources Limited. Mr Cox disclosed to the reporting company the full nature of the relationship between himself and the company, including any issues that might be perceived by investors as a conflict of interest. Specifically, Mr Cox is entitled to 2,578,921 Performance Rights issued under the Company’s stock incentive plan (details of which were included in the notice of the Annual General Meeting of October 20, 2020). Vesting of these performance rights is subject to compliance with certain performance and employment criteria.

(C) Electronic news edition 2022, source ENP Newswire

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