MRG Metals Limited announced the assay results from its Phase 2 aircore drilling on two priority zones of the Nhacutse Target in the company's Corridor South Project in Mozambique. The Phase 2 Nhacutse drilling consisted of 12 aircore holes drilled within the Priority 1 high grade THM target and 4 aircore holes drilled within Priority 2 target. Assay results from Phase 2 aircore drilling on the Priority 1 target's approximately 18 sq km area has further confirmed the aircore results from the Company's Phase 1 aircore drilling at the Nhacutse Target. Importantly, within this larger footprint, the Company has identified a high grade THM zone with a footprint measuring approximately 5.29 sq km, from 16 aircore drillholes at 500m to 1km spacing which assayed an average of 5.29% THM to a depth of 30.18 meters. Furthermore, 3 even higher grade zones with a total area of approximately 2.5 sq km and an average THM grade of 6.05% THM were also identified. The Phase 2 drilling also confirmed that high grade HMS mineralisation extends between and links the Bungane and Nhacutse Prospects. An inter-laboratory check on analytical results was conducted using the samples from 4 drillholes during this program. Samples were analysed by Western GeoLabs in Perth, Australia and Scientific Services in Cape Town, South Africa. A very good correlation was found in the results between the two analytical laboratories. Phase 2 aircore holes drilled in the Priority 2 target's approximately 5 sq km area confirmed the presence of an approximately 1.4 sq km high grade HMS zone and also generated additional Heavy Mineral Concentrate (HMC) for further mineralogical studies, this work has now been initiated. The studies will assist in developing further understanding to augment mineralogical studies done from auger drilling around the higher percentage Valuable Heavy Mineral (VHM) found in the east of Corridor Central from Koko Massava drilling and the east of Corridor South from Nhacutse drilling. The Phase 2 drilling at Nhacutse firstly involved the infill drilling of 12 aircore holes, 20CSAC572 to 20CSAC583 (360m of aircore drilling), focused on testing the excellent Phase 1 drilling results at the Priority 1 Target north and northeast of the town of Nhacutse. The Phase 2 drilling results confirms the continuity, strike and depth extensions of the Priority 1 high grade HMS mineralisation. Individual 3m interval assay results as high as 8.88% THM (hole 20CSAC578) was returned, with several of the aircore holes with multiple consecutive 3m intervals with assay results of +5% THM. Most of the aircore holes (9 of the 12) were still in +3% THM at the final sample, two of these 20CSAC578 and `583 were still in +5% THM grades at the end of the holes. Although the aircore drilling has already identified very significant depth extension from surface to 30m depth, significant additional potential exists for depth extension to the high grade mineralisation. The aircore drilling has also importantly confirmed the high grade HMS mineralised footprint extends between Nhacutse and Bungane as can be seen from the assay results in the holes in the cross section between the two towns. Within this large mineralised footprint, 16 aircore holes from Phase 1 and Phase 2 drilling identified a smaller, higher grade zone. Using a 4% THM cutoff, average grade of 5.29% THM from surface down to 30.18 meters depth. This high grade zone has a surface footprint of 8.61 sq km, but also contains 3 smaller very high grade zones. Using a 5% THM cutoff, the average grade for the 3 zones is 6.05% THM over 29.9m, with a combined area of 2.67 sq km. The high grades, size of the area and the fact that most of the area is open at depth demonstrates the strong potential to deliver a maiden Mineral Resource at the Nhacutse High Grade Zone to augment the Koko Masava MRE. To date 6 composited samples from auger drillholes within the high grade zone have been analysed by CSIRO Mineral Resources, with particle analyses, QemScan and Bulk Mineralogy indicating the following % VHM (VHM; Rutile + Leucoxene + Altered Ilmenite + Ilmenite + Zircon) for the samples: CSNH01 @ 40.78% VHM; CSBN02 @ 33.40% VHM; CSNH05 @ 39.74% VHM; CSNH06 @ 42.53% VHM; CSNH07 @ 42.70% VHM; CSNH08 @ 48.05% VHM. Secondly, the Phase 2 aircore program at Nhacutse included 4 additional holes, 20CSAC584 to `587, in the eastern part of Nhacutse. A composited sample from an auger drillholes within the vicinity of the 4 drillholes analysed by CSIRO Mineral Resources via particle analyses, QemScan and Bulk Mineralogy indicating the following % VHM (Rutile + Leucoxene + Altered Ilmenite + Ilmenite + Zircon) shows a VHM % of between 68.82% and 73.27% (repeat vs original analyses), clearly illuminating the potential of this area for supplying high % VHM material in close proximity to the Nhacutse High Grade Zone The 4 drillholes were drilled to gain further information and source additional HMC for mineralogical studies of an emerging zone of higher VHM concentration, interpreted from previous Qemscan analysis from auger drilling. The HMC is currently being used for said additional mineralogical studies, additional Qemscan and X-ray fluorescence spectroscopy (XRF) analysis will be conducted to better interpret this significant finding. The high grade found in 20CSAC587 from this area (30m @ 4.22% THM) indicates potential for higher grade mineralisation to be discovered in this Priority 2 Target area. A comparison of the reported visible (VIS) % THM grades from the 16 aircore drillholes in this program to the actual assay results on averages per drillholes basis from this announcement shows a good correlation, with on average, an underestimation on the VIS vs actual assay results of only 0.45% THM on the average drillhole grades. On individual drillholes, 5 of the 16 drillholes have VIS estimates within 0.5% THM of the actual assay results, 9 of the 16 drillholes have VIS estimates within 1.0% THM of the actual assay results; with only 2 holes at a difference +1% THM, in both cases the VIS grades underestimated the actual grades. The estimations on higher grades of +4.5% THM are less accurate, with the higher differences nearly all falling in the higher grade range. The correlation in this batch of results is good and supports the use of VIS estimated THM grades for reporting and planning.