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Not seen this for months

Can see this being marked up sharply at the open on good news landing and it will probably still be NT to buy at that stage.

All good signs.

@ bebeto

I Agree - With the reef license landing and 2moz+ Gold resource then held and generating significant positive cash flow.

A 36m market cap ( 2p)would look incredibly cheap

Just need the news to come in now.

The Company has certainly made significant progress since we were last hitting nearly
1.9p intraday after the release of the initial exploration results at kilomapesa Hill which really were excellent.

No one can argue that the SP hasn't drifted as it became clear that we were going ro have to wait some time following those Initial high grade gold results back in October as the company had to wait on the delivery of the new DD and RC rigs which we purchased and then embarked on a fairly chunky 13,000 metre drill program with initial cores sent off to the labs about a month ago.

With Assays due and the rigs fully owned and able to continue to generate results on a regular basis now, we should never again have to experience a 6 month window in between the last set of assay results and the next string of results.

Production continues to increase and at an extremely low cost. The new Heap leach plants will certainly improve the production/cost ratio even further as should the planned tailings improvement program as the stockpiled lower grade material gets processed with very little additional cost other than the upfront capex of the new pad installations.

Looking forward to the assay results which should in turn lead to a remodelled JORC as the new grades are added in alongside a re working of the cut off grade which should in itself lead to a nice uplift.

Robbie should have plenty of content to be putting in the next RNS with all the updates due.

Assay results.
Resource expansion
Q1 Production figures
NSE listing
Next stage of the modular plant upgrade
Production increases.
License expansion
Kilimapesa hill open pit commencement.
Tanzania Gold fieldwork program
Nyakafuru & Nyakafuru Reefs JORC Update
Simba - JORC update
ExistingJORC remodelling (taking gold under licence past 2Moz+)
Further exploration zones mapped out in addition to the work being undertaken at the southern mineral lisation zone.

Lots of news to look forward to.

Looking forward to hearing Robbie and the team providing a detailed update on the huge progress being made.

@AIM

See my note not long posted over on MILA.

A trader over there sold £50k worth on Friday trying to be clever.

Big mistake... lol.

Also, I noticed there was some traders who sold up late on Friday dropping stock onto the market late in the afternoon, probably hoping they were going to get back in cheap ahead of the assay results.

That didn't work out for them unfortunately

A steady rise is always far better and more sustainable than a spike.

This has risen steadily so far as the results have been released to market.

Another decent day here!

@Alan

Just trying to get my head around what additional grades we will need or expect to see to move towards the target JORC Resource.

Will try and do some work on this and what we will need on terms of metres drilled as we concentrate on this first target.

Feel free for anyone else to share their thoughts on this based upon the the drill results so far and the info on the Company's website.

I can see a big re rate incoming as our Assay results start to be released back to back and if timed with production increases and news from Tanzania we should finally be saying hello to the 2p range.

Alongside all the exploration work ongoing at Kilimapesa and the production increases.

We could also be about to get an update on Tanzania activities.

Our recent new strategic appointments to the BoD will have no doubt been tasked with meeting with the pro mining government in Tanzania, specifically their minister of mines about Caracal securing the Nyakafuru Reefs license

"Nyakafuru has excellent infrastructure - national highway, power and established camp with office,
accommodation and workshop facilities
• Granted licenses have JORC compliant resource of 0.7Mozs at 2.08g/t with 'major' exploration upside
• Potential to add a further 448,000ozs if Nyakafuru Reefs application is granted"

Not sure what Caracal see as MAJOR exploration upside, but Nyakafuru sits within the Tanzania Gold fields not far from Barrick Gold's 18 Million oz 'Bulyanhulu Gold Mine' where we have 11 granted exploration licenses over 280 km2


Our Total Landholding has increased by 700% with additional 15 Mining Licenses and 11 Exploration Licenses acquired in Tanzania
• Resource drilling and updated development studies to commence

• Previous positive development studies completed by Resolute Limited and based on
large scale conventional open pit operation and CIL processing plant
• EIA approved providing opportunity for near-term development

~ Once the Reefs Mining licence is awarded that should be another major catalyst for the SP to explode here.

GLA

Kilimapesa has a current mineral resource of 8,715,291tonnes at 2.40 g/t gold for 671,446 oz at a cut-off of 1 g/t
This comprises the Kilimapesa Hill and the Red Ray deposits

A 13,000m drill program at Kilimapesa Hill commenced in January 2022 with initial cores sent to the labs several weeks ago and first Assays are now due.

The Kilimapesa Mine consists of 5 adits which have intersected at least 4 gold-bearing veins, 3 of which have been developed through drives, raises, and stopes

The strike of the orebodies is +/- E-W and the dip angle varies from 45 to 70 degrees
Drive sections are 2.5m x 2m and raises are excavated at 10m to 15m intervals along the drives
Underground mining recommenced in January 2021

Initial open-pit mining has commenced on the Kilimapesa Hill within the existing mining license area following results of initial exploration trenching returning High grade Gold results ranging between 7g/t - 15g/t (Oct RNS)

Refer to the Q1 corporate presentation which sets out the details of the route to establish initial JORC Resources of 2Moz+ (via company website)

We ars moving into what should be an extremely exciting period of resource expansion and rapid production increases.

Sub 1.25p will look an incredibly cheap entry once we have our resource upgrade out to the the market.

Noticed the photos released today that we have started work on the construction of the 2nd heap leach plant.

Seen a few Co's make 100%+ moves on decent grades when rolled out in quick succession.

We will be releasing back to back strings of Assay results alongside the production increases.

New major discovery zone announcement incoming?

@StockBoxMedia
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Got to hand it to Bill.

Looks a piece of shrewd business getting the munni munni licence acquisition across the line ahead of these drill results being released to market.

Neil Hutchison, Chief Geologist of Mila Resources, commented:



"I am lost for words! The assay results from the first five diamond core holes have surpassed my expectations. We knew the core would deliver strong results based on the visual observations of the sulphide mineralisation and the Bellevue-Style veins we had intersected. In addition, we received great results from the RC drilling assays indicating the potential of this mineralised system, but to intersect 6.6m at almost 15 grams gold and 22 grams silver is remarkable. This zone includes 1m at 27.6 grams gold and 47.5 grams silver, which is the highest assay result we have received back from all of the drilling at Coffey to date.

"This deposit is really starting to take shape and from the observations in the recently completed drill holes, it only gets better. It's a massive achievement by the onsite personnel from Geolithic, DrillCore and PetriCore, who have all delivered such high-quality work over a short three-month period. We are all excited to commence with the Stage 2 & 3 drilling campaigns, which will chase this highly mineralised system at depth and along strike. These next stages of drilling will potentially further expand the mineralisation, growing the deposit in size and grade."

And there is going to be more Assay results to follow closely beyond these ones!

Interpretation of these RC results is ongoing but suggests a potential repeat of the Elizabeth Hill deposit along the Munni Munni Fault

Also - A potential VMS style deposit

Exceptional Assays:
Better Than Expected Grades at Kathleen Valley's Coffey Deposit



Mila Resources, the post-discovery gold exploration accelerator, is pleased to announce assay results returned from the Company's 2022 diamond drilling programme at the Kathleen Valley Gold Project in Western Australia ("Kathleen Valley" or the "Project"). The objective of the drill programme is to build on the existing JORC Inferred Resource and unlock the full potential of the project, which is located in a region which hosts some of the largest gold projects in Australia and which is adjacent to Bellevue Gold's discoveries.



Highlights

· Assays for first five of the 11 diamond core holes have been received (Table 1) delivering exceptional results

· KVRD026 - 6.6m @ 14.86 g/t Au & 21.79 g/t Ag from 209.40m including:

o 5m @ 18.94 g/t Au & 28.08 g/t Ag from 210m which includes:

§ 1m @ 27.60 g/t Au & 47.50 g/t Ag from 211m, the highest grades returned to date

· KVRD025 - 5m @ 4.26 g/t Au & 13.35 g/t Ag from 198m including:

o 3m @ 6.90 g/t Au & 21.62 g/t Ag from 200m which includes a high-grade zone comprising:

§ 1m @ 13.45 g/t Au & 37.70 g/t Ag from 202m

· KVRD027 - 10m @ 1.11 g/t Au & 4.35 g/t Ag from 205m including:

o 6m @ 2.26 g/t Au & 7.03 g/t Ag from 219m which includes a high-grade zone comprising:

§ 1m @ 4.49 g/t Au & 18.40 g/t Ag from 224m