Gascoyne Resources Limited (Gascoyne or Company) provided an update on resource extension activities at the Dalgaranga Gold Project (Dalgaranga) in Western Australia. This announcement reports the final assay results received from the 4,846m RC drilling program at Dalgaranga which was completed in December 2020. Updated Mineral Resource Estimates for Gilbey's, Sly Fox and Plymouth are expected to be completed in the March quarter 2021 following the conclusion of follow up drilling. Mine planning will then be completed to update Ore Reserve estimates for inclusion in an updated Dalgaranga Life of Mine plan due in the June quarter 2021. Gilbey's: At Gilbey's, seven RC holes have been completed targeting extensions down dip and along strike to the Gilbey's Main Zone (GMZ). The highly significant result of 13m @ 2.1 g/t Au from 277m in DGRC0620 approximately 190m below surface, is the most southerly intersection of the GMZ to date, and has extended the GMZ some 25m further south outside of the current resource and mine plan extents and remains open at depth and to the south. This area will be the focus of follow up extensional drilling in the coming weeks. The GMZ mineralisation intersected consists of quartz-carbonate veined biotite, pyrite altered schists. Sly Fox: Results from the final five RC drill holes completed at Sly Fox have been received. This drilling targeted high-grade zones below the base of the open pit, infilling and extending around the excellent results. The deepest hole drilled to date at Sly Fox returned a wide high grade gold intersection, of 26m @ 2.3 g/t Au from 277m (ETW 18m) in DGRC0623, including 16m @ 3.0 g/t Au from 279m approximately 250m below surface. This deep intersection is encouraging from a potential underground mining perspective and will be followed up with further drilling to determine if this is an option for Sly Fox. The results continue to confirm a SW orientated steeply plunging high grade shoot that remains open at depth and along strike. Mineralisation at Sly Fox is related to silica, pyrite and quartz altered biotite schists. Previous mining at Sly Fox has demonstrated that the orebody is continuous, predictable and reliable. Plymouth: At Plymouth, results have been received from an additional two shallow RC holes targeting northerly extensions to the main Plymouth deposit lodes. A high grade intersection of 3m @ 6.2 g/t Au from 31m in DGRC0611 shows that there is encouraging potential economic mineralisation to the north. Mineralisation at Plymouth is related to quartz veins within silica, pyrite and biotite altered schists. Regional Air Core Drilling Recommences: Aircore drilling has recommenced after the Christmas break testing priority regional exploration targets located within Gascoyne's highly prospective tenements surrounding Dalgaranga. These regional targets at Tanqueray, Lindville and Gilbey's corridor area are all located within 10km of processing plant. Samples from the drilling completed prior to Christmas are at the laboratory in Perth with assays pending.