Mila Resources Plc / Index: LSE / Epic: MILA / Sector: Natural Resources

 24 March 2025 

Mila Resources Plc

('Mila' or the 'Company')

Yarrol Project Update:

Progressing the Yarrol Target - Drill Programme Commencing in April

Mila Resources Plc ("Mila" or the "Company") is pleased to advise that it has now signed a drilling contract to commence drilling at the Yarrol Gold Project in SE Queensland ("Yarrol"), following the completion of all necessary permits.

Highlights

•           All permitting now in place and drilling contract signed

•           Drill pads to be installed by end of month with drilling to commence in early April

•           2,000m focussed on 2km stretch of 20km structure

•           Assays anticipated from mid Q2 2025

The Company plans to drill approximately 2,000m at Yarrol focussing on a 2km stretch of the Yarrol Fault, a gold-prospective structure that extends approximately 20km across the Yarrol tenement. The drilling campaign has been designed following the completion of a detailed ground magnetic survey, the integration of digitised historic data, and an extensive data interrogation process.

Drilling contractors are now preparing to mobilise rigs by the end of this month with drill pads expected to be completed in the coming weeks. The Company have been advised that drilling is scheduled to commence in early April notwithstanding any adverse weather conditions that have recently affected the area. The Company expects to receive assay results in mid-Q2 2024.

Exploration Objectives

The Company is targeting key geological questions that will shape the future of the Yarrol Project, including:

1.         Expansion of Existing Gold Mineralisation: Assessing the potential for significant growth in the known gold resource, particularly the continuation of high-grade gold veins at depth below the historically drilled zone (~60m). Additionally, the team is investigating whether the existing low-grade gold halo has been underestimated due to assay methodology limitations. Alternative assaying techniques are being explored to determine whether gold values have historically been understated.

2.         Geological Vectoring for Gold Exploration: Developing a refined geological model to identify gold mineralisation along the full length of the Yarrol Fault. This work is expected to enhance exploration efficiency across the Company's broader portfolio, reducing costs and accelerating resource growth.

Live Company Presentation

Additionally, the Company plans to present an in-depth update on the Yarrol Gold Project and the upcoming drilling campaign via Investor Meet Company on Wednesday 26 March 2025 at 17:00 GMT.

The presentation is open to all existing and potential shareholders. Questions can be submitted pre-event via the Investor Meet Company dashboard up until 25 March 2025, 09:00 GMT, or at any time during the live presentation.

Investors can sign up to Investor Meet Company for free and add to meet Mila via:

https://www.investormeetcompany.com/mila-resources-plc/register-investor

Investors who already follow Mila on the Investor Meet Company platform will automatically be invited.

Mila Resources remains committed to unlocking the full potential of the Yarrol Gold Project and looks forward to updating shareholders as the drill programme progresses.

Mark Stephenson, Director of Mila Resources:

"We are delighted to have now got to the phase where we are ready to drill at Yarrol. Our team has worked hard on reviewing and evaluating the data, both new and old, ahead of this drill programme and we are highly encouraged with the geological model thus far. We now look forward to completing the drilling in April and following up with assays."

Figure 1. An overview of the historic drill collars and Milas planned 2025 drilling overlaid on (L) TMI magnetics from the 2025 geophysics survey and (R) aerial imagery of the Yarrol target.

Figure 2. Planned drillholes to both confirm broad (<15 m) historic intercepts of Au > 1g/t but also extend drilling to depth and to the east, outside the historic resource footprint.

**ENDS**

For more information visit www.milaresources.com or contact: