Golden State Mining Limited provide an update on 2021 Yule AC drill sample status and 2022 forward exploration planning. The Company has received updated advice from the
assay laboratory with regards to the assay results
timeline for the Yule air-core (AC) samples, none of
which have yet been received. Nine batches of
samples were submitted during the recent AC
program between 12th October 2021 and 22nd
November 2021. The first batch of sample results is
now expected in mid to late January 2022. This
schedule is in line with the industry wide backlog and
demand for analytical results across the state. The results from the remaining Yule drill samples are expected to be received in batches through February and
into early April 2022. Ongoing 2022 exploration activities in planning include: Follow-up AC drill targeting; Refinement of planned Reverse Circulation (RC) Lithium drilling; Petrological studies of selected AC EOH core and drill chips. GSM is currently working with respected industry consultants to evaluate available ground in various regions in
WA for additional Li-Au-Ni-base metal potential. This exercise is expected to produce several successful tenement
applications upon which GSM intends to continue it's aggressive and systematic exploration strategies. Yule Summary to Date: GSM's 100% Owned Yule Project ~730km2: Strategic ground position in the sought-after
Archaean Mallina Basin; Tenement package hosts intrusive bodies and
major structural corridors; Seriously underexplored; High priority gold + lithium + base metal targets. Large discrete intrusive targets 15kms from Hemi with
similar magnetic signatures: Target 1 East - 4m @ 2.3g/t Au incl. 1m @ 7.6g/t; Target 2A - 800m x 1400m Arsenic Anomaly; Alteration - Focussed Quartz-Sericite-Pyrite. 2021 drilling programs: 3,542m RC gold program; 16,326m Air-core gold and lithium program. Major regional structures: Sholl Shear Zone; Yule River Shear Zone. The Right Rocks: Archaean Mallina Basin; Large granitic intrusions into volcano-
sedimentary sequence; Right environment for late discrete intrusives and
pegmatite development.