Black Cat Syndicate Limited (“Black Cat” or “the Company”) is pleased to provide an update on surface exploration
activities at the 100% owned Paulsens Gold Operation (“Paulsens”).
HIGHLIGHTS
• Black Cat will commence surface RC drilling at Paulsens in October 2023, focused on three prospective gold areas:
• Near Mine – Near mine surface drilling will focus on shallow surface extensions to the Apollo lodes (within the
Main Zone) to deliver Resource growth in the upper mine. Drilling will also target near surface and down plunge
mineralisation in the Eastern Zone which has surface sampling from quartz veins up to 29.70g/t Au and limited
but anomalous historical drilling results.
• Belvedere – Discovery drilling at Belvedere will focus on ~500m strike of the ~2.5km long Belvedere Trend,
immediately northeast of the Belvedere Resource (30koz @ 3.9g/t Au). Drilling is targeting fault-hosted quartz
vein mineralisation along the Belvedere Fault (Figure 1), which has returned up to 47.30g/t Au from historical
surface sampling. Drilling will also target a Au-Cu-bearing quartz vein in the footwall of the Belvedere Fault,
which has returned surface samples up to 13.57% Cu1.
• Pantera – Pantera is part of the ~5km long Eagles’ Lair Trend, which is a linear >200ppm Cu+Pb+Zn soil
anomaly extending from the Eagles’ Lair prospect to the Eastern Zone of Paulsens1. Discovery drilling at
Pantera is focused on an area with historical rock chip sampling that returned up to 11.90% Cu and 22.20g/t
Au1. Pantera has never been drilled.
• In addition to planned RC drilling, detailed mapping and surface sampling is ongoing. This program is currently
focused on the Belvedere-Tombstone area, which recently returned surface samples up to 3.60% Cu2.

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