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

Colin Bird, Executive Chairman said: “We are very encouraged with the copper mineralisation intersected to date in the first hole of our three hole Phase One drilling programme at the Racecourse Mineral Resource. Substantial copper mineralisation commenced at a depth of 110m and continues to the current depth of the drill hole at 213.1m. The initial hand-held XRF results suggest the interval from 110m to 138m is grading 0.3% Cu with some intervals within that overall intersection grading up to 0.6% Cu.

Visually we can see that the copper mineralisation continues to the current total depth of drill hole BRDD-20-001 at 213.1m. The drilling programme is currently on a short break over the Christmas public holidays but will commence as soon as possible in the New Year when we will continue with this first hole down to its planned total depth of 815m.”

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