Nyota Minerals Limited (NYO) – TULU KAPI DRILLING CONTINUES TO PROGRESS POSITIVELY

Nyota Minerals Limited (NYO) – TULU KAPI DRILLING CONTINUES TO PROGRESS POSITIVELY

Tulu Kapi Drilling Continues to Progress Positively

Highlights

  • Discovery of a new high grade structure beneath the current Inferred Resource that intersected 8.7 metres (m) averaging 8.9 grams per tonne (g/t) gold in DD hole TKBH?38
  • Positive drilling results received for 15 additional RC drill holes
  • Ground magnetic and induced polarization surveys have revealed new extensions to the Tulu Kapi deposit and have generated additional drill targets.
  • A fourth drill rig is being mobilized to site to increase capacity and evaluate additional targets.

Nyota Minerals Limited is pleased to announce further positive results from additional reverse circulation (‘RC’) and diamond drill (‘DD’) holes of the ongoing exploration program at the Company’s flagship Tulu Kapi gold project in Ethiopia.

Diamond drill results have confirmed the presence of a new mineralized structure beneath the current Inferred Resource of 1.38 million ounces of gold (25.45 Mt at 1.68 g/t gold using a cut?off grade of 0.5g/t of gold) previously announced. Four deep diamond holes were drilled below the current resource which sits at a maximum depth to date of 200 metres and comprises two mineralized lodes. The deeper holes have intersected sulphide mineralization in structures stacked beneath these known lodes. To date assays have been received for one hole only (DD hole TKBH?038) with that hole resulting in a notable intersection of 8.90 g/t Au over 8.7 m between 244.0 m and 252.70 m depth. This zone, termed Lode 3, occupies a position in the geological profile 30 m below the base of known Lode 2 mineralization and could potentially fall within the limits of conceptual pit design.

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