Long Intervals Of Gold Mineralization From Golden Mountain Drilling

VANCOUVER - Fosterville South Exploration has intersected long intervals of excellent gold mineralization in multiple drill holes from ongoing core drilling at its Golden Mountain Project in Victoria, Australia.

Highlights: Drill hole GMDH0030 records 27.6 meters at 6.7 g/t Au including 8.0 meters at 11.9 g/t Au; Drill hole GMDH0031 records 29.0 meters at 2.2 g/t Au including 6.0 meters at 5.3 g/t Au; & Drill hole GMDH0032 records 60.8 meters at 2.5 g/t Au including 5.0 meters at 4.5 g/t Au, including 3.7 meters at 4.9 g/t Au and including 3.8 meters at 4.3 g/t Au.

These results confirm and expand the known mineralized footprint at Golden Mountain, which remains open at depth and open along strike, particularly as our interpretation of the previous drilling is proving to be very reliable. Every core drill hole completed by Fosterville South to date has intersected gold mineralization and drilling is ongoing. Two core drill rigs are in operation at Golden Mountain currently and additional assays, from recently drilled infill and expansion holes, are expected imminently.

The plan, long section and cross section of Golden Mountain are provided and show examples of the complex historic drill pattern, which have aided us in developing a working model and is bearing excellent results. This now gives us confidence to drill deeper at all three target areas.

COO, Rex Motton, said, "Drilling to date at Golden Mountain has returned multiple holes with long intervals of excellent gold mineralization. Now, as we continue to expand the footprint, the potential for size, volume and continuity is becoming more and more apparent. We are moving toward further deeper drilling on both the E-W zone and the Main Central Zone. More results from the ongoing confirmation, expansion and exploration drilling are expected in the coming days and we look forward to keeping investors up to date as we advance onsite."