Xtract Resources plc (XTR.L) Bushranger drilling programme progress update

The Board of Xtract Resources Plc (“Xtract” or the “Company”) is pleased to provide an update regarding progress of the second hole in the Phase One diamond drilling programme at the Racecourse Mineral Resource on the Bushranger porphyry copper-gold exploration project located in the Lachlan Fold Belt (“LFB”), New South Wales, Australia.

Highlights

· Drilling of the second hole of the Phase One Drilling Programme at the Racecourse Mineral Resource on the Bushranger Project, has continued to 405m out of a planned hole depth of about 750m

· Hole BRDD-21-002 is angled at -80 degrees and is offset from strike with the aim of crossing through the down-plunge extension of the deposit at depth

· Weak to moderate copper mineralisation and bedrock alteration was first noted in the hole at a depth of about 130m within the hanging-wall margin of the deposit and becomes more pronounced from 340m as the hole approaches the main porphyry target zone

Colin Bird, Executive Chairman said: “The rig was moved from the first down-plunge hole and commenced drilling on the current hole on 23 January. The new hole was sited offset from strike to intersect the deposit at a target depth of about 450-500m. We are currently cutting through a wide zone of geological alteration and low to moderate grade copper mineralisation lying above the main zone. We will continue to report results as the hole advances over the coming days.”

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