Quicksilver Nickel-Cobalt Project Commences

Exploration has commenced at Golden Mile’s Quicksilver Project.

• Historical geochemistry has outlined an extensive nickel-cobalt target, which has yet to be systematically tested by drilling
• Previous drilling has returned shallow, high-grade intercepts of over 5,000 ppm (0.5%) Cobalt including:
• VH013 4 metres @ 6,800 ppm (0.68%) Cobalt  from 2 metres
• Golden Mile has initiated a program of mapping and geochemical sampling at Quicksilver to assist in targeting our maiden drilling campaign
• Preparations for Golden Mile’s drilling campaign at Quicksilver are well advanced, with the site now prepared and final stage of permitting for drilling awaiting approval
• Detailed planning is now also underway to commence exploration on the Company’s other project areas, including the Braemore and Leonora East gold projects
• Golden Mile looks forward to updating shareholders as its exploration program advances at Quicksilver.

The Quicksilver nickel-cobalt project is located in the SW Mineral Field of Western Australia. The project is composed of one granted Exploration Licence (E 70/4641 – 100% Golden Mile) covering 15 km of prospective stratigraphy. To date, only a small percentage of this stratigraphy, in the south, has been explored in any detail. Previous exploration has yielded an extensive nickel-cobalt surface anomaly at Garards (Figure 2 & 3) that covers over 2 km of strike; this anomaly has yet to be systematically drill tested but has produced high-grade (>0.5%) cobalt intercepts in shallow drilling.

Golden Mile’s exploration program has now commenced, with the current work program at Quicksilver comprising:

Geological Mapping & Sampling

In preparation for the upcoming drilling program, the Garard Prospect area is being mapped and sampled to identify key areas of outcrop and target lithologies for detailed exploration – results pending.

Geochemical Sampling

Historical surface sampling covers much of the Garard prospect area (Figure 3) however an area in the southwest corner of the target area remains untested . Geochemical testing of this terrain may assist in identifying further high-grade nickel-cobalt mineralisation for future drill testing.

The target area for geochemical testing is 1,000 metres wide and covers close to 1,500 metres of strike. Sampling will be undertaken on 200 x 100 metre spacing – results pending.

Drill Program Preparation

The high-grade zones of the surface cobalt geochemistry at Garards remain largely untested by drilling (Figure 3). The present proposal focuses on aircore drill testing of the near surface cobalt surface mineralisation, with drilling to be initially undertaken on 400 x 100 metre centres.

Golden Mile’s field team have marked out the drill sites at Garards for the commencement of operations as soon as the final approvals and authorisation are provided by the WA Department of Mines & Petroleum.

Exploration is now underway at Quicksilver to:

• Outline additional high-grade cobalt targets for future drill testing, and
• Prepare the prospect area for drilling in the coming weeks.