Update on Parkes and Wellington North Projects exploration activities

Magmatic Resources Limited (ASX:MAG) is pleased to provide an update on ongoing activities at its 100%-owned Parkes and Wellington North Projects in central New South Wales. The Company continues its exploration efforts, including reconnaissance mapping, rock chip sampling, and geophysical surveys at the Black Ridge prospect on the Parkes Project, as well as the upcoming RC drilling program at the Rose Hill prospect on the Wellington North Project.

Executive Commentary on Exploration Activities

The ongoing exploration activities at the Parkes and Wellington North Projects demonstrate our commitment to unlocking the potential of these areas. The strong copper potential at the Black Ridge prospect, as indicated by the reconnaissance mapping and rock chip sampling results, is particularly encouraging. We are also looking forward to commencing the RC drilling program at the Rose Hill prospect, which we believe holds promise for shallow copper-gold mineralization. These activities align with our strategy to systematically explore and evaluate the mineralization potential of our projects.

Summary of Exploration Update and Outlook

Magmatic Resources' update on the Parkes and Wellington North Projects highlights the significant progress in exploration activities, particularly at the Black Ridge prospect. The identification of strong copper potential through reconnaissance mapping, rock chip sampling, and geophysical surveys underscores the Company's focus on advancing its exploration efforts. The upcoming RC drilling program at the Rose Hill prospect further reflects the Company's proactive approach to testing for shallow copper-gold mineralization. With a dedicated technical team and a clear exploration strategy, Magmatic Resources remains committed to realizing the mineralization potential of its projects and looks forward to the results of the ongoing activities.