The Board of Xtract Resources Plc ("Xtract" or the "Company") is pleased to provide a further 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.

· Hole BRDD-21-002, the second hole of the Phase One Drilling Programme at the Racecourse Mineral Resource on the Bushranger Project, is collared over 300m from the previous hole, angled at -80 degrees and is offset from strike with the aim of crossing through the down-plunge extension of the deposit at depth.

· Drilling has continued to a depth of 685m, passing through various rock alteration types as far as the current depth.

· Chalcopyrite copper mineralisation is observed through much of the lower part of the drill interval, accompanied by pyrite and pyrrhotite in the form of disseminations and fracture-fill. The hole is continuing.

Colin Bird, Executive Chairman said: "The hole continues and the mineralisation thickness is to our expectations and beyond. We will extend the hole until we reach rock types which are atypical of porphyries in the area or the mineralisation diminishes completely."

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