North Queensland Exploration Update

Exciting High Grade Gold & Base metals on Granted Mining Lease. Up to 12.64 Cu (%) & 4.12g/t Au

Far Northern Resources Limited (ASX: FNR, “Far Northern Resources”, “the Company”) is pleased to provide an update on exploration activities at the Empire Project, located 34km west of Chillagoe in North Queensland Australia. The Empire Mining Lease (Empire) covers an area of 252 (ha). It has a JORC 2012 Resource and will be subject to 5000m of drilling over the next two years.

HIGHLIGHTS

• Empire has a current Mineral Resource Estimate of (22,505 AuOz), refer to prospectus page 14.
• New reconnaissance (undertaken just prior to Christmas 2023 and for which assay results have now been received) away from this known resource has commenced with high grade copper and gold rock chip samples on mineralized outcrops and old prospector scratching extending the strike of known mineralization by a further 750m.
• High Grade Copper and Gold rock chips have returned assays of up to 12.64% Cu (FNRRCS24001) and 4.12 g/t gold (FNRRCS24002) (see Table 1)
• Other individual surface samples have returned copper grades of 11.59% Cu, 11.89% Cu, 9.60% Cu, 6.53% Cu and 2.61% Cu (%) (see Table 1)
• Other individual samples have returned gold grades of 0.78g/t, 0.92g/t, 1.19g/t, 2.16g/t, 0.75g/t, 1.68g/t and 0.70g/t (see Table 1)

The Managing Director of Far Northern Resources , Cameron Woodrow said:

“Far Northern Resources has been exploring this area for some time and it is pleasing to release some very exciting new copper and gold results which clearly show there is a much bigger picture at play at our Empire Project.

We are excited to now have the funding to get on the ground and drill out the potential for what is shaping as a nice copper-gold project in a proven copper-gold mining area”.

Enquires:

Cameron Woodrow

cwoodrow@farnorthernresources.com

Roderick Corps.

rcorps@farnorthernresources.com

Empire Copper Gold Project Previous exploration activity at Empire including drilling and soil geochemistry prove a very strong geochemical signature in the associate elements of Au-Ag-Bi-Cu-Mo-Sb-W typical of copper-gold porphyry systems. So far drilling has focussed only on the stockworks where an open pit mineable resource has been defined. Our latest rock chips show these stockworks extend for at least another 750m and our geologist believes these could be the part of a bigger porphyry style target.

Figure 1 Empire Mining Lease - Location of Empire Stock Work, Pinnacle & United Empire.

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