Barton Gold Receives $380,000 ADI Grant Disbursement

Rhea-AI Summary

Barton Gold Holdings (BGDFF) has received a $380,000 grant disbursement for research and development work at its South Australian Tarcoola Gold Project. This funding is part of a larger $595,000 grant awarded in 2022 under the South Australian Government's Accelerated Discovery Initiative (ADI). The approved program includes ground penetrating radar, seismic surveys, and validation drilling. During 2023-2024, the company completed these works, leading to a new regional structural model for the Tarcoola Goldfield and the identification of the new Tolmer Gold System through high-grade gold assays from conceptual test drilling.

Positive

• Received $380,000 in government grant funding
• Discovery of new Tolmer Gold System through test drilling
• Successful development of new regional structural model

Negative

• None.

ADELAIDE, AUSTRALIA / ACCESSWIRE / December 10, 2024 /

Fig 1 - Tarcoola Goldfield interpreted 3D architecture with recent test drilling results¹

Barton Gold Holdings Limited (ASX:BGD)(FRA:BGD3)(OTCQB:BGDFF) (Barton or Company) is pleased to confirm that it has received a $380,000 grant funding disbursement for research and development (R&D) work programmes recently undertaken at its South Australian Tarcoola Gold Project (Tarcoola).

During 2022 Barton was awarded up to $595,000 under the South Australian Government's Accelerated Discovery Initiative (ADI) for an approved program of works in the historical Tarcoola Goldfield including ground penetrating radar (GPR), seismic surveys, and validation drilling of theorised models generated.²

Barton has planned and undertaken these works during the fiscal years 2023 and 2024, with a newly interpreted regional structural model for the Tarcoola Goldfield (which hosts Barton's open pit Perseverance Mine) published during November 2023 and, subsequently, the identification of the new Tolmer Gold System in high-grade gold assays returned from conceptual test drilling during early 2024.¹

Commenting on the receipt of ADI grant program funds, Barton MD Alexander Scanlon said:

"We are grateful to have received such support from the South Australian Government in our mission to unlock the regional structural context of the Tarcoola Goldfield. These programs, while relatively small in nature, are a critically valuable tool in supporting the efforts of small companies leading higher-risk exploration initiatives. The Tolmer discovery is a prime example of the potential to significantly accelerate regional development."

^{1 Refer to ASX announcements dated 28 November 2023 and 27 August 2024
2 Refer to ASX announcement dated 15 June 2022}

Authorised by the Board of Directors of Barton Gold Holdings Limited.

For further information, please contact:

Alexander Scanlon Managing Director a.scanlon@bartongold.com.au +61 425 226 649

Jade Cook Company Secretary cosec@bartongold.com.au +61 8 9322 1587

About Barton Gold

Barton Gold is an ASX, OTCQB and Frankfurt Stock Exchange listed Australian gold developer targeting future gold production of 150,000oz annually, with ~1.6Moz Au JORC Mineral Resources (52.3Mt @ 0.94 g/t Au), multiple advanced exploration projects and brownfield mines, and 100% ownership of the only regional gold mill in the renowned central Gawler Craton of South Australia.*

Tarcoola Gold Project Existing brownfield open pit mine within trucking distance of Barton's processing plant Under-explored asset with untapped scale potential Tunkillia Gold Project * 1.5Moz Au Mineral Resources (51.3Mt @ 0.91 g/t Au) Scoping Study for competitive ~130kozpa Au mine Infrastructure 650ktpa CIP process plant, mine village, and airstrip Tarcoola ~40 person lodging to support mine operations Tunkillia camp to support dedicated project team

Competent Persons Statement & Previously Reported Information

The information in this announcement that relates to the historic Exploration Results and Mineral Resources as listed in the table below is based on, and fairly represents, information and supporting documentation prepared by the Competent Person whose name appears in the same row, who is an employee of or independent consultant to the Company and is a Member or Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM), Australian Institute of Geoscientists (AIG) or a Recognised Professional Organisation (RPO). Each person named in the table below has sufficient experience which is relevant to the style of mineralisation and types of deposits under consideration and to the activity which he has undertaken to quality as a Competent Person as defined in the JORC Code 2012 (JORC).

Activity	Competent Person	Membership	Status
Tarcoola Mineral Resource (Stockpiles)	Dr Andrew Fowler (Consultant)	AusIMM	Member
Tarcoola Mineral Resource (Perseverance Mine)	Mr Ian Taylor (Consultant)	AusIMM	Fellow
Tarcoola Exploration Results (until 15 Nov 2021)	Mr Colin Skidmore (Consultant)	AIG	Member
Tarcoola Exploration Results (after 15 Nov 2021)	Mr Marc Twining (Employee)	AusIMM	Member
Tunkillia Exploration Results (until 15 Nov 2021)	Mr Colin Skidmore (Consultant)	AIG	Member
Tunkillia Exploration Results (after 15 Nov 2021)	Mr Marc Twining (Employee)	AusIMM	Member
Tunkillia Mineral Resource	Mr Ian Taylor (Consultant)	AusIMM	Fellow
Challenger Mineral Resource	Mr Dale Sims (Consultant)	AusIMM / AIG	Fellow / Member

The information relating to historic Exploration Results and Mineral Resources in this announcement is extracted from the Company's Prospectus dated 14 May 2021 or as otherwise noted in this announcement, available from the Company's website at www.bartongold.com.au or on the ASX website www.asx.com.au. The Company confirms that it is not aware of any new information or data that materially affects the Exploration Results and Mineral Resource information included in previous announcements and, in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates, and any production targets and forecast financial information derived from the production targets, continue to apply and have not materially changed. The Company confirms that the form and context in which the applicable Competent Persons' findings are presented have not been materially modified from the previous announcements.

Cautionary Statement Regarding Forward-Looking Information

This document may contain forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "expect", "target" and "intend" and statements than an event or result "may", "will", "should", "would", "could", or "might" occur or be achieved and other similar expressions. Forward-looking information is subject to business, legal and economic risks and uncertainties and other factors that could cause actual results to differ materially from those contained in forward-looking statements. Such factors include, among other things, risks relating to property interests, the global economic climate, commodity prices, sovereign and legal risks, and environmental risks. Forward-looking statements are based upon estimates and opinions at the date the statements are made. Barton undertakes no obligation to update these forward-looking statements for events or circumstances that occur subsequent to such dates or to update or keep current any of the information contained herein. Any estimates or projections as to events that may occur in the future (including projections of revenue, expense, net income and performance) are based upon the best judgment of Barton from information available as of the date of this document. There is no guarantee that any of these estimates or projections will be achieved. Actual results will vary from the projections and such variations may be material. Nothing contained herein is, or shall be relied upon as, a promise or representation as to the past or future. Any reliance placed by the reader on this document, or on any forward-looking statement contained in or referred to in this document will be solely at the readers own risk, and readers are cautioned not to place undue reliance on forward-looking statements due to the inherent uncertainty thereof.

^*Refer to Barton Prospectus dated 14 May 2021 and ASX announcements dated 4 March and 16 July 2024. Total Barton JORC (2012) Mineral Resources include 833koz Au (26.9Mt @ 0.96 g/t Au) in Indicated and 754koz Au (25.4Mt @ 0.92 g/t Au) in Inferred categories.

SOURCE: Barton Gold Holdings Limited

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FAQ

What is the value of the ADI grant received by Barton Gold (BGDFF) in December 2024?

Barton Gold received a $380,000 grant disbursement from the South Australian Government's Accelerated Discovery Initiative (ADI).

What was the total ADI grant amount awarded to BGDFF in 2022?

Barton Gold was awarded up to $595,000 under the South Australian Government's Accelerated Discovery Initiative in 2022.

What new discovery did BGDFF make at the Tarcoola Gold Project in 2024?

Barton Gold discovered the new Tolmer Gold System through high-grade gold assays from conceptual test drilling.

What exploration activities did BGDFF conduct with the ADI grant at Tarcoola?

The company conducted ground penetrating radar (GPR), seismic surveys, and validation drilling of theorised models at the Tarcoola Goldfield.