Despite the discovery of gold intercepts as anticipated in exploratory drilling at Way Lingo, KRM is announcing today the intent to divest all or part of Way Lingo.

Disc: Held in SMSF

Kingsrose Announces Near Surface High-Grade Gold at the Maul Vein, Way Linggo Project

Kingsrose Mining Limited (ASX: KRM) (“Kingsrose” or the “Company”) is pleased to announce high-grade gold intercepts from drilling on the Maul Vein target at the Way Linggo project, Indonesia (Figure 1 and Table 1). Between November and December 2021, five holes for a total of 816.7 metres were completed (Figure 2 and Table 2) to follow up on encouraging trench results and geological interpretations announced on 1st November 2021.

Highlights

• Significantdownholeinterceptsinclude:

o 3.1 metres at 13.0 g/t gold, 21.9 g/t silver (from 78.2 metres, DDH-597) o 4.3 metres at 6.0 g/t gold, 8.6 g/t silver (from 41.2 metres, DDH-596)

o 2.7 metres at 6.7 g/t gold, 8.9 g/t silver (from 8.1 metres, DDH-595)

• Gold grades up to 25.1 g/t over 0.7 metres (from 78.2 metres, DDH-597) are evidence of high-grade mineralising events present within the vein system and indicates potential to vector toward thicker high-grade zones.
• A sub-parallel gold mineralised vein which is blind at surface was intercepted 25metres to the north of the Maul Vein, termed the Semung Besar Vein, as such the area is shown to host multiple veins within the same structural corridor.
• Mineralisationislocated500metreswestofthe240,000ozgoldMineralResourceatTalangSanto (refer ASX announcement dated 10 August 2021) and is open both along strike and down dip.
• Kingsrose is commencing a strategic process to review opportunities to divest all or part of the Way Linggo project to maximise the value of the Company’s interest in the project for the benefit of all shareholders and pursue its discovery focused strategy.

Fabian Baker, Kingsrose Managing Director, commented “The first five holes from the Maul Vein have discovered gold mineralisation from surface in two sub-parallel structures, which is encouraging for the potential of the area.

Mineralisation remains open and is located 500 metres west of the 240koz gold Talang Santo Mineral Resource, which is also open down plunge. Follow-up drilling is planned to commence at the end of January to target depth extensions of the Maul and Semung Besar veins.

Despite these encouraging results, our strategy, and our team’s strength, is value creation through discovery. As the scale of existing resources at Way Linggo do not meet our development threshold, we are assessing divestment opportunities to realise value through a balanced transaction that further funds this strategy while retaining exposure to future cash flow from production.” [emphasis mine]

Seems there's lots of "stumbling" on PGE deposits recently. Positive announcement today from KRM on one of their resource holdings in Finland.

RESAMPLING CONFIRMS AND EXTENDS MINERALISATION ON THE AP REEF, PENIKAT PGE-NICKEL-COPPER PROJECT

Kingsrose Mining Limited (ASX: KRM) (“Kingsrose” or the “Company”) is pleased to announce assay results from an initial core resampling program at the Penikat PGE-nickel-copper project, Finland. A total of 171 samples were collected from nine historical diamond drill holes from the AP Reef to confirm and verify historical drill data (Figures 1 to 3).

Highlights

• Resampling confirms historical high-grade drilling intercepts of palladium, platinum, gold, nickel and copper mineralisation, including:

o 8.8 metres at 11.1 g/t PdEq (8.1 g/t Pd, 2.3 g/t Pt, 0.5 g/t Au, 0.5 % Cu, 0.4 % Ni) from surface (SI/KI-034)

• HolesSI/KI-456andSI/KI-457werenotassayedhistoricallyforPGE.Resamplingreturnedsignificant PGE mineralisation in both holes, extending thick near surface mineralisation by 20 metres to the north and indicating that it is open along strike (Figure 2):

o 4.0 metres at 6.8 g/t PdEq (3.9 g/t Pd, 1.2 g/t Pt, 0.4 g/t Au, 0.8 % Cu, 0.3 % Ni) from 3.2 metres (SI/KI-456)

o 13 metres at 2.3 g/t PdEq (1.8 g/t Pd, 0.6 g/t Pt, 0.1 g/t Au, 0.1 % Cu) from 0.8 metres (SI/KI-457), including

? 4.3 metres at 4.0 g/t PdEq (3.1 g/t Pd, 0.9 g/t Pt, 0.1 g/t Au, 0.1 % Cu) from 3.7 metres and

? 0.4 metres at 11.1 g/t PdEq (8.2 g/t Pd, 2.9 g/t Pt, 0.5 g/t Au, 0.4 % Cu, 0.1 % Ni) from 12.7 metres

• Mineralisation in hole SI/KI-038 is thicker than historically reported. An historical intercept of 5.2 metres at 3.2 g/t PdEq (2.4 g/t Pd, 0.6 g/t Pt, 0.1 g/t Au, 0.1 % Cu) has been extended to:

o 10.0 metres at 3.1 g/t PdEq (2.4 g/t Pd, 0.7 g/t Pt, 0.1 g/t Au, 0.1 % Cu) from 0.7 metres • Surface rock-chip sampling of the AP Reef returned outstanding results of up to 29.6 g/t PdEq (22.5

g/t Pd, 6.7 g/t Pt, 1.1 g/t Au, 0.9 % Cu, 0.4 Ni), further confirming the location and high-grades

Fabian Baker, Kingsrose Managing Director, commented “These results further validate our conviction that the grades and thickness of mineralisation at Penikat represents the opportunity to define a globally significant PGE-nickel-copper project. With many kilometres of near-surface mineralisation defined by historical work, we believe depth extensions will be confirmed through future drilling to define a multi-million ounce deposit.”