Colin Bird, Executive Chairman, Xtract Resources plc (XTR.L) Daily Update - a podcast by Share Talk LTD

The Board of Xtract Resources Plc ("Xtract" or the "Company") is pleased to provide further news regarding progress of the first hole in the Phase One diamond drilling programme at the Racecourse Mineral Resource on the Bushranger copper-gold exploration project located in the Lachlan Fold Belt ("LFB"), New South Wales, Australia.

· Drilling of the first of three planned holes on the Phase One Drilling Programme at the Racecourse Mineral Resource on the Bushranger Project, has continued to 1,089m in angled drill hole BRDD-20-001

· Copper mineralisation was first noted at a depth of 110m and the hole has been mineralised continuously over a 940m interval to approximately 1,050m depth, 235m past the original planned finishing depth of the hole

· Strong potassic alteration and pyrite mineralisation continues to the current hole depth of 1,089m, however copper mineralisation has tapered out over the last 30m

· The hole will be extended further to test for possible pick-up in copper grades but will be stopped if significant additional mineralisation is not encountered

· The results of this hole will be assessed in the coming days and will feed into planning for the next holes of the programme: an independent porphyry deposit expert has been engaged to assist with developing future plans

Colin Bird, Executive Chairman said: "Mineralisation in the current hole appears to be finally tapering out. We will continue drilling for a further 30-40m to check for any additional mineralisation. This has proven to be a highly encouraging first hole on the property for the Company, indicating that we are in the early stages of the potential discovery of a substantial new porphyry system on the Lachlan Fold Belt.

The results of the hole will be reviewed by an independent porphyry expert and a more detailed overview of the results will be released next week. We look forward to this and to the outcome of the remaining holes of the drill programme."



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