New Discovery - High Grade Gold Zone at Idenburg

Far East Gold has discovery of a new zone of quartz veins approximately 1.2km east of the Bermol prospect area at the Idenburg project, with surface grab samples returning assays of up to 53 g/t Au. These high-grade and bonanza gold assays — including 19.31 g/t Au, 16.75 g/t Au, 10.18 g/t Au, and 8.43 g/t Au — were collected from quartz veins at the North Bermol, Bermol, and Mafi prospect areas, confirming historical exploration results. At the newly discovered quartz zone, located east of Bermol, grab samples returned up to 8.43 g/t Au and 31.9 g/t Ag from a 5m wide vein mapped at surface.

As recently announced, the Company will commence a 3,670m, 32-hole diamond drill programme targeting these key areas. The goal of the Company’s Phase 1 drilling program is to build upon the maiden JORC inferred resource estimate of 540,000 ounces of gold at 4.1 g/t and 468,000 ounces of silver at an average grade of 3.6 g/t.

HIGHLIGHTS:

• The new discovery of gold mineralisation within a new quartz zone about 1.2km east of Bermol confirms the resource potential at Idenburg and the need for sustained detailed mapping throughout the project area. Referred to as `East Bermol’ the style of mineralisation is consistent with that reported from the Bermol and North Bermol prospect areas. Refer to Company ASX announcement of August 21, 2024.

• Previous exploration focused on circa 30% of the total CoW area while most of the property remains vastly under-explored and holds potential for a significant expansion of the reported resources.

• Grab samples of quartz veins and boudinaged quartz lenses from the Bermol and North Bermol returned assays of; 19.31 g/t Au , 53 g/t Au, 16.75 g/t Au, 10.18 g/t Au and 8.43 g/t Au.

• Sample assays from the Mafi prosect returned up to 6.45 g/t Au. Significant base metal (Cu, Pb, Zn) enrichment is also present with assays from grab samples from Mafi having up to 25.8% lead (Pb) and 13.8% zinc (Zn) and 0.6% copper (Cu). The samples also contain high concentrations of antimony (Sb) with individual assays up to 1.2%.

• The results of the mapping programme further confirm the presence of high-grade Au mineralisation and the potential to expand the current defined resources in each of the prospect areas. The planned holes will test defined zones along strike and to depth to expand the current areas of resource and complete several infill holes to upgrade the resources to indicated and measured.