Cloudbreak Discovery (LON: CDL) Jumps 22% on High-Grade 65 g/t Gold Hit at Darlot West

Record Gold Grade of 65 g/t at Darlot West, Western Australia

Cloudbreak Discovery Plc (LON: CDL), a London Stock Exchange Main Market listed company, is pleased to announce the excellent results from the recent rock chip sampling program from its Darlot West Gold Project (“Darlot West”), located only 10km southwest of the iconic Darlot Gold Mine in Western Australia with 2.8 million ounces of gold produced to date, and 25km north of Northern Star Limited Thunderbox Gold Mine with an annual production of 232koz, resource of 4.7Moz and Reserve of 1.96Moz gold (Figure 2).

Following up on the results gathered in the Company’s maiden sampling program in August, reporting rock chips containing up to 28.62 g/t gold, Cloudbreak continues to confirm the presence of very significant gold mineralisation over the project site and its incredible exploration potential over a large area.

Multiple rock chip results over 1g/t gold have now been returned (Figure 1, Table 1), with the results plotted on regional low-resolution open file magnetics indicating significant area-wide gold potential. The magnetic highs and lows as shown indicate the structural complexity and dilation zones over the project area. There are large areas with clear evidence of highly elevated gold mineralisation, with the bulk of the project requiring stage 3 sampling follow up, having had no exploration either modern or historic.

The work to date has shown that historical mining shafts, outcrops and trenches are gold bearing, and metal detecting results have already shown coarse gold does occur on the project, as released in September.

·    Rock chip results returning over 10 g/t included:

o  65.75 g/t Au (2.11 ounces of gold per tonne)

o  40.44 g/t Au (1.30 ounces of gold per tonne)

o  27.23 g/t Au

o  19.79 g/t Au

o  15.89 g/t Au

o  15.40 g/t Au

o  14.39 g/t Au

o  13.99 g/t Au

o  12.66 g/t Au

o  12.45 g/t Au

o  10.78 g/t Au

·    Significant texture in the low-resolution magnetic data, indicates multiple large areas for targeted exploration. High-resolution airborne magnetics survey has been completed with results due shortly.

Tom Evans, Cloudbreak’s MD, commented: “These rock chip samples over such a large area are highly significant and it’s very encouraging to see these results continue to confirm and show significant gold mineralisation potential over large parts of the Darlot West project. Plotting these gold results on the low-resolution magnetics reveals significant areas for us to target for future exploration. Soil sampling results are due shortly, as are the high-resolution magnetic results, and these will help us further develop our near-term exploration plans. The Darlot West Gold Project covers 60.6km² and is a sizeable area, and with samples now up to 65.75g/t gold, we will continue to follow up on high priority gold mineralisation over the project with the aim of moving the project towards drilling as soon as possible. I look forward to updating shareholders as results come to hand.”

Future plans and work programs:

·    Assay results from soil samples previously taken are expected in late October.

·    High-resolution airborne magnetics results expected in late October or early November.

·    The above results will assist with plans to refine areas for drilling

Figure 1: Rock chip results above 1 g/t gold with regional low-resolution magnetics, Darlot West Gold Project.

Figure 2: Location of 60.6km² Darlot West Gold Project, Western Australia – 10km from 2.8Moz Darlot Gold Mine, and 25km from Thunderbox Gold Mine operated by Northern Star Limited.

This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).

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