Tempest Minerals Ltd. (TEM) provided a market update on the drilling progress at the Euro Project. Drilling has been completed at two of the three target areas. All holes to date have intersected zones of significant alteration including hydrothermal quartz breccia consistent with historical gold intersects, but also appreciable semi-massive sulphides beyond the tenor previously reported which may be associated with large systems such as skarn or volcanic massive sulphides (VMS).

Drilling Update: Two areas have been completed to date with a third in the final stages of drilling for a total of approximately 881m diamond drilling completed despite production being hampered by staffing issues associated with the holiday period and Western Australian border restrictions. All drill holes to date have encountered thick zones of alteration including: chlorite, biotite, albite and garnet with visible mineralisation of quartz breccias and disseminated to semi massive sulphides. Background: The Euro Project is 176 km2 of 100% owned tenements within the exciting Warriedar exploration portfolio in the Yalgoo region of Western Australia which totals more than 900 km2 (>604 km2 granted and 311 km2 of pending).

The Euro Project is an underexplored geological terrain located between several in development or producing operations including Karara (Iron), Shine (Iron), Mt Mulgine (Gold/Tungsten) and Rothsay (Gold/Copper). Parts of the project were explored in the 1990s and early 2000s for gold and iron ore. Reconnaissance drilling in the north of the project area encountered significant gold mineralisation.

Due to depressed metal prices, they were not considered priority and not followed up with targeted drilling. Tempest advised in November that drilling had commenced at the Euro Project. The current program will test and extend new and previously known zones of mineralisation with significant historic drill results.

Geology: The Euro Project comprises part of the southern Yalgoo Greenstone belt with primary host rock stratigraphy of ultramafic, mafic and felsic volcanic and sedimentary sequences including banded iron-formations (BIF). These are comparable to those that host major nearby deposits including Karara, Rothsay and Mount Mulgine. The region has multiple generations of deformation including folding and shearing which can be observed clearly in geophysical models and in the field.

The major folding system appears northwest­southeast with remnants of a later phase of refolding striking north­south and east­west. Multiple generations of shearing are also present, including offsets of fold axial planes. At least two of the shearing events appear relevant to the presence of gold mineralisation at the nearby Rothsay Mine as well as the Euro Project.

The current drilling program is targeting areas known to host gold within quartz sulphide veins within a larger associated alteration system.