S2 Resources Ltd

S2 Resources Launches Major Multi-Project Drilling Campaign Across Australia

Aggressive Exploration Program Targets High-Impact Discoveries on Four Fronts

S2 Resources has unveiled an ambitious multi-project drilling program targeting potential high-impact discoveries across its diverse portfolio in Western Australia, New South Wales, and Victoria. The campaign represents a systematic approach to testing multiple priority targets with significant discovery potential across four key projects.

The drilling schedule spans from March through July 2025, utilising aircore, reverse circulation (RC), and diamond drilling techniques strategically tailored to each target. This comprehensive approach demonstrates the company's commitment to advancing its exploration portfolio simultaneously on multiple fronts.

Sequential Drilling Plan Offers Multiple Catalysts Through Mid-2025

S2's methodical, multi-project exploration strategy provides investors with a steady stream of potential catalysts over the coming months:

Fosterville Project: Hunting Gold Along Strike from World-Class Mine

Drilling at the 100%-owned Fosterville project begins late March, targeting compelling induced polarization (IP) anomalies with characteristics similar to those associated with known gold deposits at the adjacent Fosterville gold mine operated by Agnico Eagle.

Technical Strategy Increases Discovery Potential

The initial aircore program will test coincident chargeability and resistivity anomalies identified through recent geophysical surveys. These anomalies are significant because:

• They may indicate disseminated sulphide zones which typically form halos around discrete gold-mineralised lodes
• They are positioned along interpreted extensions of key faults that host gold at the Fosterville mine
• They exhibit similar geophysical signatures to those documented over known mineralisation at the Fosterville mine itself

The initial aircore drilling aims to detect any sulphide alteration halos and associated gold anomalism as vectors toward potential "hot spots," with follow-up RC or diamond drilling planned pending results.

Glenlogan Project: Prime Copper-Gold Porphyry Target in Cadia District

S2 is advancing its copper-gold porphyry exploration at Glenlogan in NSW's prolific Cadia district (where the company can earn up to 80% interest), with diamond drilling scheduled to commence in late April.

Compelling Geophysical Signature Points to Potential Porphyry System

The target combines multiple geophysical indicators consistent with porphyry-style mineralisation:

• Coincident chargeability, resistivity, and conductivity anomalies defined by TAIP and MT surveys
• Located strategically at the periphery of a large magnetic intrusion
• Position is consistent with known porphyry models where mineralisation typically occurs around the edges of larger intrusions
• Previous drilling in the area intersected elevated gold and copper values

A DDIP survey starting next week will further refine drill targets before diamond drilling commences.

West Murchison Project: Hunting for Julimar-Style Polymetallic Deposits

The 100%-owned West Murchison project in Western Australia's emerging West Yilgarn province will see its first-ever reconnaissance RC drilling program in May/June, pending heritage clearance.

Extensive Soil Anomalies Point to Potential Magmatic System

The program targets several extensive polymetallic soil anomalies with:

• Nickel-copper-chrome-palladium-platinum-gold signature similar to that found at Chalice Mining's Julimar discovery
• Potential for magmatic sulphide accumulations similar to Nova-Bollinger or Julimar deposits
• First-ever systematic drilling in this highly prospective area

Initial drilling will confirm the presence of mafic-ultramafic intrusions with follow-up geophysics planned to identify specific targets for subsequent drilling.

Warraweena Project: Testing Australia's Most Anomalous Heavy Mineral Sample

S2's most conceptual but potentially highest-reward target lies at Warraweena in northern NSW, where diamond drilling of concealed geophysical targets is planned for June/July.

Frontier Exploration in Highly Prospective Covered Terrain

What makes this target compelling:

• Area contains Australia's most anomalous heavy mineral concentrate sample for nickel, copper, and zinc
• Multiple gravity and magnetic anomalies identified in recent surveys
• Located beneath younger cover rocks, making it previously unexplored
• Could represent extensions of the mineral-rich Macquarie Arc or Thompson Orogen
• Potential for multiple deposit styles including porphyry copper-gold, IOCG, magmatic copper-nickel-PGE, or base metal systems

The drilling aims to characterise the various geophysical anomalies as a first step in systematically evaluating this frontier area.

Understanding Geophysical Exploration: The Key to S2's Targeting Strategy

A cornerstone of S2's exploration approach is the sophisticated use of multiple geophysical methods to identify targets beneath cover. For investors unfamiliar with these techniques, here's a simple explanation:

Induced Polarisation (IP) Surveys – Finding Hidden Sulphides

IP surveys measure how rocks store and release electrical charge. Sulphide minerals (often associated with gold and base metals) store charge well, creating "chargeability" anomalies. S2 uses several types of IP surveys:

• Dipole-dipole IP (DDIP): Provides detailed resolution at moderate depths
• Tensor Array IP (TAIP): Covers larger areas more efficiently
• Wenner Array IP (WAIP): Specialised configuration for specific geological settings

These techniques help identify potential sulphide zones that might host gold (at Fosterville) or be associated with porphyry copper systems (at Glenlogan).

Magnetotelluric (MT) Surveys – Seeing Deep Structures

MT surveys measure natural electromagnetic fields to map conductivity variations deep in the earth's crust. This helps identify:

• Deep fault structures that might control mineralisation
• Conductive bodies that could represent clay alteration zones around porphyries
• Resistive zones that might represent silicification or intrusive bodies

The combined use of multiple geophysical methods creates a more robust targeting system, increasing the probability of exploration success.

Why S2 Resources Presents a Compelling Investment Opportunity

S2 Resources offers investors exposure to a diversified exploration portfolio with several key attributes:

Strategic Project Positioning in Tier-1 Districts

The company has assembled projects in some of Australia's most prospective mineral provinces:

Methodical Exploration Approach

S2's technical team employs a systematic, science-driven exploration methodology:

• Multiple targeting methods combining geophysics, geochemistry, and geological interpretation
• Staged drilling programs designed to efficiently test concepts
• Rapid-response exploration that can quickly pivot based on results
• Cost-effective approach that maximises exploration dollars

Experienced Leadership

The company is led by a team with a strong track record of discovery and value creation, providing shareholders with technical expertise that enhances discovery potential.

Upcoming Catalysts Through 2025

With multiple drilling programs scheduled across four projects, S2 offers investors exposure to:

• Continuous news flow from March through July 2025
• Multiple shots on goal across different commodity types and deposit styles
• Potential for transformative discoveries in well-endowed mineral districts

The S2 Resources Investment Proposition

S2 Resources represents a compelling opportunity for investors seeking exposure to a diversified, technically-driven exploration company with multiple near-term catalysts. With projects strategically positioned in some of Australia's most productive mineral provinces and a methodical approach to testing high-impact targets, the company offers significant discovery potential across its portfolio.

The aggressive drilling campaign launching in March 2025 provides multiple opportunities for transformative discoveries that could substantially revalue the company. With a market capitalisation of just $29.4M and $3.5M in cash, S2 offers leveraged exposure to exploration success across gold, copper-gold porphyry, and polymetallic targets.

Investors should closely monitor results from the Fosterville drilling commencing in late March, followed by the copper-gold porphyry drilling at Glenlogan in April/May, as these represent the nearest-term potential catalysts in the company's methodical, multi-project exploration strategy.

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