Lefroy Exploration Limited (ASX:LEX) Update

Lefroy Exploration Limited (ASX:LEX) is pleased to announce the update to the Resource Estimate (MRE) for the Mt Martin deposit located in the Location 45 freehold property within the Eastern Goldfields of Western Australia. The company has focused on growth in the near-surface (200m depth) gold resource base at its 100% owned Mt Martin Project, resulting in the delineation of 9.25Mt @ 1.47g/t for 439,000 contained ounces, representing a 13% increase in near-surface ounces compared to the Alacer 2013 estimate when applying a 200m depth cut-off to both models. The resource growth is targeted for the Main, East, and Adelaide Shear corridors.

Executive Commentary

Lefroy CEO Graeme Gribbin expressed, 'We are very pleased to provide an update on the Mt Martin resource, further demonstrating the Company's strong base of near-surface gold resources within the Lefroy Project. Located within the freehold property of Location 45, the Mt Martin resource is strategically placed adjacent to existing haulage and gold processing infrastructure. We are most encouraged by the increase in our near-surface resource ounces at Mt Martin and believe that with future near-surface programs targeting the Main, East, and Adelaide Shear down-plunge to the north, there is a pathway to grow the resource even further.'

Summary

Lefroy Exploration Limited (ASX:LEX) has successfully focused on the growth of its near-surface gold resource base at the Mt Martin Project, resulting in a 13% increase in near-surface ounces compared to the Alacer 2013 estimate. The company is targeting resource growth for the Main, East, and Adelaide Shear corridors. With the recent update on the Mt Martin resource and the shallow high-grade potential of the Burns Central Au deposit, Lefroy Exploration is set to embark on exploration activities across the broader Lefroy Project to unlock further value in the region. The company has identified numerous exploration targets across the peripheral areas of the Mt Martin deposit, with exciting growth opportunities for expanding the mineral resource. Lefroy's ambitions include prioritizing shallow opportunities at East and Adelaide Shear for advancing and drill testing into early 2025, presenting a significant exploration upside for the company.