Flynn Gold’s First Drill Hole at Silver King Returns Up to 2,450g/t Silver and 29.5% Lead

Maiden Drilling at Silver King Yields High-Grade Results

Flynn Gold Limited (ASX:FG1) has announced the first assay results from its maiden diamond drilling program at the Silver King prospect, part of its 100%-owned Henty Silver-Lead-Zinc Project near Zeehan in Western Tasmania. The initial drill hole, SKDD001, intersected exceptional high-grade mineralisation including up to 2,450 grams per tonne (g/t) silver, 29.5% lead, and 9.0% zinc over narrow intervals. These results align with historical mining records from the Silver King mine, which was last drilled approximately 80 years ago.

The SKDD001 hole was designed to test the southern extension of high-grade silver-lead ore shoots beneath the historical Silver King workings. The significant intercepts include 1.0 metre at 1,020 g/t silver, 15.2% lead, and 4.7% zinc from 101 metres depth, with a higher-grade subsection of 0.4 metres at 2,450 g/t silver, 29.5% lead, and 9.0% zinc from 101.2 metres. These grades are consistent with historical reports of 25–45 ounces per tonne (780–1,400 g/t) silver at Silver King and up to 100 ounces per tonne (3,110 g/t) silver at the nearby South King mine, where drilling is currently underway.

Ongoing Drilling and Exploration Activities

Drilling commenced in late February 2026 and has progressed with three holes completed (SKDD001 to SKDD003) totaling 610.5 metres, and a fourth hole (SKDD004) currently in progress. The drilling program focuses on two historical mining centres along the 1.6-kilometre Silver King Mine trend, which hosts steeply dipping silver-rich galena-sphalerite fissure veins.

Flynn Gold is also conducting field mapping and surface geochemical sampling along the broader Silver King trend. These data will be integrated with drilling results to refine the geological model and guide future exploration efforts. Following completion of drilling at Silver King and South King, the rig will move to the Grieves Siding prospect at Henty South for a short one-hole program.

Historical Context and Technical Details

The Silver King prospect lies within Exploration Licence EL3/2018, fully owned by Flynn Gold’s subsidiary Kingfisher Exploration Pty Ltd. Historical mining from the late 1800s to early 1900s focused on selectively mined high-grade vein material, with underground workings developed to depths of approximately 76 metres. Limited diamond drilling by North Broken Hill Limited in 1947 provided some historical intercepts, but these have not been independently verified to modern standards.

The current drilling uses triple tube diamond core methods with oriented HQ-sized core. Sampling and assay procedures follow industry standards, with quality control measures including certified reference materials and duplicates. Assay results reported are downhole lengths; true widths are yet to be determined.

Managing Director and CEO Neil Marston described the first high-grade result as "an exceptional start" that demonstrates potential for mineralisation continuity at depth along the Silver King trend. He noted the project contains multiple high-grade silver-lead-zinc targets associated with historical workings, with ongoing drilling and assays expected to provide further insights.

In a broader market context, this drilling update follows Flynn Gold’s recent high-grade gold-tungsten hits at Firetower, underscoring the company’s active exploration across Tasmania. The Silver King results add to the company’s growing portfolio of polymetallic prospects with potential for resource expansion.