Legacy Minerals Drake Project update

Legacy Minerals Holdings Limited (ASX: $LGM) is pleased to provide an update on its 100% owned Drake Project, NSW (EL6273, EL9616 and ELA6642). The company has signed a key land access agreement with the Forestry Corporation of NSW, covering 13,728 ha of the Drake Project, and has established a base of operations at Drake for future field and drilling campaigns. The exploration team has validated high-grade intercepts, demonstrating the prospectivity of numerous untested drill targets across the 150km2 Drake caldera.

Legacy Minerals CEO & Managing Director, Christopher Byrne, on Drake Project progress

The more our exploration team unpacks the Drake Project, the more we are excited about its untested potential. And that potential is framed in the context of the upside we see in our other large epithermal systems, Black Range, and Bauloora which is being explored under an earn-in agreement with Newmont. We have progressed our exploration at the Drake Project with the signing of a key land access agreement with the Forestry Corporation of NSW and established a base of operations at Drake for future field and drilling campaigns. As part of our ongoing work, our team has continued to assess historical reports and bring all soils, rock chips, drilling, and other mapping information into a centralised database which will lay the foundations for future campaigns. It is exciting that we have been able to confirm some very high-grade drilling results such as 12.82m at 48g/t Au and 2,589g/t Ag, including 0.91m at 230g/t Au and 9,081g/t Ag. These results further confirm our view of the prospectivity of numerous untested drill targets across the 150km2 Drake caldera. Legacy Minerals looks forward to providing further updates on our progress at this exciting Project.

Drake Project summary and outlook

The Drake Project, situated within the highly prospective New England Fold Belt, holds significant exploration potential. Legacy Minerals has made substantial progress by signing a key land access agreement and establishing a base of operations at Drake. The validation of high-grade intercepts and the compilation of a comprehensive database of historical surface and drilling assays provide a strong foundation for future exploration programs. With ongoing assessment of potential geophysical survey techniques and drilling activities at other projects, Legacy Minerals is well-positioned for further advancements. The company's focus on leveraging historical data and exploration information underscores its commitment to unlocking the full potential of the Drake Project and delivering value to its stakeholders.