Evergold Minerals Initiates 13,000-Metre Aircore Drilling to Expand Gold Systems at Mt Monger, WA

Significant High-Grade Gold Intercepts from Maiden RC Drilling at Duchess of York

Evergold's initial reverse circulation drilling at Duchess of York delivered substantial gold intercepts that underpin the company’s progression to the aircore phase. Highlight results include 25 metres at 3.47 g/t gold from 3 metres depth in hole MM26RC00051, featuring a high-grade 1-metre interval of 52.74 g/t gold. These findings confirm both broad mineralised zones and discrete high-grade shoots within the shallow oxidised system at Duchess of York.

Other notable intercepts from the maiden RC program include 6 metres at 5.43 g/t gold from 29 metres depth in MM26RC00061, which contains a 2-metre section grading 12.25 g/t gold, and 22 metres at 1.80 g/t gold from 59 metres in MM26RC00242 with an 8-metre interval averaging 3.38 g/t gold. Additionally, 25 metres at 1.00 g/t gold from 57 metres depth in MM26RC00183 confirmed mineralisation continuity at depth. Collectively, these results indicate most mineralisation lies within approximately 60 metres of surface, including supergene enrichment in the weathered zone, making aircore drilling an ideal cost-effective exploration method.

Advanced Geological Model Integrating Gravity, Magnetic, and Structural Data

Evergold has developed a sophisticated integrated geological model combining high-resolution ground gravity surveys with 3D density inversion modelling, a comprehensive drone magnetic survey, and detailed structural mapping at Duchess of York. This multidisciplinary approach enhances understanding of gold mineralisation controls and enables confident prioritisation of drilling targets across the project.

The company's interpretation suggests Mt Monger gold mineralisation is intrusion-related, with concealed sanukitoid intrusions acting as sources of gold-bearing hydrothermal fluids. Later-stage D3 and D4 structures, identified via drone magnetics and field mapping, are considered primary fluid conduits. Sedimentary and mafic volcanic units serve as favorable hosts for gold deposition. This geological framework aligns with Geological Survey of Western Australia research linking sanukitoid magmatism to gold mineralisation in the Eastern Goldfields. The 3D gravity model delineates intrusive sources at depth, drone magnetics define structural architecture, and structural mapping validates these against observed mineralisation, enabling target prioritisation where low-density bodies, structures, and host stratigraphy coincide.

Duchess of York Aircore Program Targets Shallow Extensions and Parallel Lodes

The initial aircore drilling phase focuses on the Duchess of York Prospect, where the maiden RC program confirmed a broad, shallow gold system with multiple high-grade shoots. The aircore drilling is designed to test mineralisation extensions beyond existing drill coverage and evaluate potential parallel lodes and offsets that remain untested. Aircore drilling offers a cost-effective and rapid method to explore these shallow targets ahead of planned follow-up RC drilling.

Evergold employs aircore drilling as a reconnaissance tool to expand the known mineralised footprint at Duchess of York and identify additional drill-ready targets for subsequent RC or core drilling. Since much mineralisation occurs within 60 metres of surface and includes supergene enrichment in weathered zones, aircore drilling is particularly suited to efficiently penetrate these intervals. Following the aircore program, follow-up RC drilling will test higher-priority targets and deeper extensions identified.

Regional Exploration to Assess Gladiator, Samurai, and Emerging Prospects

Beyond Duchess of York, the aircore program will systematically test multiple regional prospects across Mt Monger, applying the intrusion-related geological model more broadly. Drilling will advance at the Gladiator Prospect, where maiden RC drilling has confirmed gold mineralisation at depth, indicating multiple mineralisation systems across the project. Additional prospects to be evaluated include Samurai, Hickman's Find, Tiger Lily, and Captain Hook.

Two newly defined prospects, Crusader and Paladin, will also be included in the regional aircore campaign. This systematic evaluation aims to determine if the combination of interpreted intrusive bodies, favorable host rocks, and structural controls seen at Duchess of York is replicated elsewhere. Success in identifying multiple mineralisation systems with a shared geological framework would significantly expand Evergold’s drill-ready target pipeline and reinforce the district-scale potential of Mt Monger.

Sanukitoid Intrusion-Related Gold Model in Eastern Goldfields Context

Evergold’s geological interpretation situates Mt Monger gold mineralisation within the broader context of sanukitoid-related gold systems documented in Western Australia’s Eastern Goldfields. Sanukitoids are mantle-derived intermediate to mafic magmatic rocks associated with gold mineralisation. The model proposes that gold-fertile magma fractionated in staging chambers, releasing volatile-rich fluids that ascended structural pathways into greenstone sequences where gold precipitated in favorable host rocks. This concept aligns with Geological Survey of Western Australia research linking sanukitoid magmatism to gold prospectivity in the region.

Applying this regional framework to Mt Monger enables a coherent exploration strategy beyond individual prospects. By identifying concealed sanukitoid intrusions through 3D gravity modelling and tracing structural pathways via drone magnetics, Evergold has established a systematic target generation approach. The convergence of modelled intrusive bodies, structural conduits, and favorable stratigraphy provides multiple exploration targets for sequential testing through aircore and follow-up RC drilling.

Mt Monger Gold Project Location and Asset Overview

The Mt Monger Gold Project is situated in Western Australia, one of the world’s premier gold mining regions. The project covers multiple exploration prospects across a district-scale property where Evergold believes multiple gold systems exist rather than isolated mineralisation. The company’s asset strategy focuses on areas where integrated geological modelling indicates favorable combinations of intrusive sources, structural controls, and depositional hosts for gold.

Gold mineralisation defined at multiple locations including Duchess of York and the emerging Gladiator Prospect supports Evergold’s hypothesis of multiple mineral systems sharing a common geological origin. The district-scale nature of the opportunity has driven the decision to undertake a large 13,000-metre aircore program evaluating prospects across the broader area, rather than focusing drilling on a single site. This approach aligns with Evergold’s goal of demonstrating the district-scale potential of Mt Monger.

Cost-Effective Aircore Drilling for Shallow Target Assessment

Evergold’s choice of aircore drilling for the next exploration phase reflects the shallow nature of mineralisation at Mt Monger and the cost advantages of aircore for such targets. Since most mineralisation occurs within approximately 60 metres of surface, including supergene-enriched weathered zones, aircore drilling offers a rapid and economical method to test these intervals. Aircore holes can be drilled faster and cheaper than reverse circulation, allowing broader coverage and more targets tested within budget.

The program’s staged approach uses aircore drilling to identify priority targets for subsequent, more detailed RC drilling. Aircore efficiently penetrates oxidised and weathered material, providing samples that define mineralised footprints and highlight drill-ready targets. This strategy maximizes exploration efficiency and budget utilization. Completion of 13,000 metres of aircore drilling followed by targeted RC drilling represents a significant exploration commitment to Mt Monger.

Strategic Outlook and District-Scale Exploration Potential

Evergold’s aircore drilling campaign reflects confidence in Mt Monger hosting multiple gold systems with district-scale potential rather than isolated occurrences. The maiden RC program confirmed extensive gold mineralisation at Duchess of York with consistent grades and multiple high-grade shoots, alongside mineralisation at Gladiator. These findings support the interpretation that reproducible geological controls may generate multiple systems across the project.

Director Glenn Grayson stated the maiden RC program greatly enhanced understanding of Mt Monger’s geological framework and gold mineralisation controls. He emphasized the company’s belief that multiple gold systems exist beyond Duchess of York and that the aircore program is the next step to systematically evaluate the broader district. Successful aircore results could substantially expand the drill-ready target pipeline and demonstrate Mt Monger’s district-scale potential. This strategic vision positions Evergold to establish Mt Monger as a multi-system gold exploration asset.