Flynn Gold Makes Promising Discovery at Grenadier Prospect

Substantial New Gold Discovery Expands Golden Ridge Potential

Flynn Gold Limited (ASX: FG1) has announced a significant discovery at its 100%-owned Golden Ridge Project in Northeast Tasmania, with recent trenching results confirming a major new high-grade gold vein system extending over at least 300 metres in strike length.

The latest trenching campaign at the Grenadier Prospect has revealed what Managing Director and CEO Neil Marston describes as "the widest and longest mineralised vein system uncovered to date" at the project. This significant Flynn Gold discovery at Grenadier Prospect substantially increases the prospectivity of the Golden Ridge Project, with the company collecting a 10-tonne bulk sample to facilitate initial metallurgical testwork.

Recent trench channel sampling has returned impressive gold grades including:

• Trench 11: 0.6m @ 13.8g/t Au
• Trench 9: 3.4m @ 1.6g/t Au, including 0.7m @ 6.3g/t Au
• Trench 13: 6.0m @ 0.7g/t Au, including 0.2m @ 12.3g/t Au
• Trench 12: 1.85m @ 2.6g/t Au, including 1.25m @ 3.8g/t Au
• Trench 8: 2.0m @ 1.5g/t Au

A key highlight is the continuous high-grade nature of the vein exposed in Trench 9, where sampling along an 11-metre strike at 2-3 metre intervals yielded consistent gold grades ranging between 6.6-11.8g/t Au. This is similar to promising gold-silver veining intercepts seen in other Australian exploration projects recently.

"This latest discovery of a major mineralised vein system extending over a total strike length of over 300m is the widest and longest mineralised vein system uncovered to date. It is an exciting new development for Flynn Gold," said Neil Marston, Managing Director and CEO.

Grenadier Prospect: A Genuine Greenfield Discovery

What makes the Grenadier Prospect particularly significant is that it represents a genuine greenfield gold discovery made by Flynn Gold, with no recorded historical gold occurrences or mining activity in this area during the region's main historical mining period (late 1800s to early 1900s).

The prospect is located on the western margin of the Golden Ridge Granodiorite intrusion, on the opposite side to Flynn's most advanced prospect, Trafalgar. Importantly, the Grenadier Prospect is not included in the company's previously announced Exploration Target for the Golden Ridge Project, offering substantial upside potential. Furthermore, the high-grade gold results from these trenches highlight the significant potential of the area.

Understanding Intrusive-Related Gold Systems

The gold mineralisation at the Flynn Gold discovery at Grenadier Prospect is classified as an Intrusive-Related Gold System (IRGS). This type of gold system is characterised by steeply dipping, northeast-striking quartz veins containing arsenopyrite and pyrite.

IRGS deposits form when metal-rich fluids associated with cooling magma bodies migrate upward through fractures in surrounding rocks. These fluids cool and deposit minerals including gold in veins, often near the contact zones between the intrusive body (in this case, the Golden Ridge Granodiorite) and the surrounding rock.

These systems are economically significant globally and can range from smaller high-grade vein networks to larger, lower-grade deposits. What makes the Grenadier discovery particularly promising is the combination of substantial vein width (up to 700mm), consistent high grades (up to 13.8g/t Au), and considerable strike length (at least 300m).

The consistent high-grade nature of the veins at Grenadier, combined with their substantial width and strike length, makes this a particularly promising discovery within this deposit type. In the mining sector, this type of discovery often attracts significant attention, as evidenced by other companies like CZR Resources receiving substantial offers for their promising assets.

Significant Exploration Upside

The Grenadier Prospect is defined by a broad Ultra Fine Fraction (UFF+) gold-in-soil anomaly covering an approximately 1km x 1km area along the southwestern margin of the Golden Ridge Granodiorite. This geochemical footprint is comparable in scale to Flynn Gold's more advanced Trafalgar Prospect. Notably, this anomaly:

• Remains open to the southeast
• Has only been tested in a small northwestern portion

Current trenching has only assessed a small portion of the anomaly in its northwestern extent, with the remainder of the geochemical footprint remaining untested. This suggests significant potential for additional parallel mineralised structures across the broader anomaly zone.

The Flynn Gold discovery at Grenadier Prospect offers considerable exploration upside, with the current trenching program having exposed only a small fraction of the total anomalous area identified through soil sampling. The magnitude of the soil anomaly suggests the potential for multiple parallel mineralised structures or more extensive vein systems within the broader target area.

Near-Term Development Plan

With drilling approvals now received from Mineral Resources Tasmania (MRT), Flynn Gold is preparing to commence its initial drilling program at Grenadier. This program will test the down-dip continuity of the high-grade quartz-sulphide veins exposed in recent trenching and investigate the structural controls of gold mineralisation.

The company is also advancing work at other prospects within the broader Golden Ridge Project:

• Phase 4 diamond drilling (2,000m) is ongoing at the Trafalgar Prospect
• Trenching has commenced at the Double Event Prospect, with drill pads to be constructed for follow-up diamond drilling

This systematic exploration approach across multiple prospects within the Golden Ridge Project area demonstrates the company's commitment to comprehensively testing the gold potential of this emerging district. This approach is similar to that taken by Inca Minerals in their Stunalara takeover, showing how strategic exploration can lead to significant value creation.

Why Investors Should Follow Flynn Gold

Flynn Gold represents an emerging exploration opportunity with several compelling attributes:

1. Multiple Discovery Potential: The company's strategic tenement package in Northeast Tasmania covers extensive gold-prospective ground with multiple emerging targets.

2. High-Grade Gold System: The consistent high-grade nature of the Flynn Gold discovery at Grenadier Prospect (6.6-11.8g/t Au along strike) demonstrates the quality of mineralisation present.

3. Systematic Exploration Approach: Flynn's methodical approach, progressing from soil sampling to trenching to drilling, has already yielded significant results and provides a clear roadmap for developing other targets.

4. Substantial Growth Potential: The Grenadier Prospect wasn't included in the company's Exploration Target for Golden Ridge, representing additional upside to the project's overall resource potential.

5. Active News Flow: With ongoing drilling at Trafalgar, trenching at Double Event, and upcoming drilling at Grenadier, investors can expect regular updates on exploration progress.

Flynn Gold's discovery at Grenadier represents a significant step forward in establishing the Golden Ridge Project as a substantial gold system in Tasmania's northeast. With a current market capitalisation of just A$9.0 million, backed by A$1.02 million in cash, the company offers investors exposure to a potentially significant gold discovery at an early stage of development. This represents an interesting opportunity similar to Marvel Gold's acquisition of the Hanang project, where early-stage gold assets can offer significant value potential.

The recent discovery at Grenadier further strengthens the company's position by confirming mineralisation potential on both sides of the Golden Ridge Granodiorite intrusion, significantly expanding the overall prospectivity of the project area beyond what was previously recognised.

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