Quarterly Activities Report - for the Quarter ended 30th June 2022

A$20M at $0.11.5 per share

For further information, contact: Matthew Gill or Shane Turner Phone: 03 5331 4644

Woods Point Gold Project , Victoria - Morning Star Gold Mine

Diamond drilling at Woods Point that began in October 2021 has identified up to

five potential gold production areas at the high-grade Morning Star Underground Gold Mine, with mining on track to restart in Q3 of 2022.

The Gap Zone represents an area underground with 200 metres of vertical

extent between areas of historic mining with historical production1 of 883,000oz gold at 26.5g/t Au.

tonne) in a quartz reef interval with abundant visible gold from the

Achilles Reef was reported after Quarter end.

This confirms White Rock's priority of targeting high-grade gold for drill testing in the Gap Zone.

The Exhibition Reef is a parallel mineralised quartz structure above the Dickenson Reef at the southern end of the mine and located around 4 Level that includes a "high-grade" gold target area that is potentially more than 100m in strike length and up to 40m down-dip.

Recent drill intersection assay results4 from the Exhibition Reef include:

Woods Point Gold Project, Victoria - Regional

Review of data across the Company's strategic 660km² tenement package has identified the 1.5km long Wallaby-Eldorado-Shakespeare trend as a high priority exploration target for a 2022 regional exploration program. Permitting and stakeholder engagement to allow drilling continues.

Red Mountain silver-zinc VMS and IRGS Project, Alaska

White Rock acquired a new high-grade gold project identified within the Tintina Gold Province, Alaska, during the Quarter5 .

Highlights of the White Gold Project from historic exploration include:-

Mt Carrington Gold and Silver Project, NSW

White Rock Minerals Limited ( ASX: WRM; OTCQX:WRMCF, 'White Rock' or 'the Company') is pleased to report on its activities for the quarter ended 30 June 2022.

Woods Point Gold Project, Victoria - Morning Star Gold Mine

White Rock's immediate objective at the Morning Star Gold Mine is a low capital cost restart of gold production from multiple reef locations. The Company seeks to achieve this by identifying and drilling areas of the dyke with potential to host multiple high-grade gold quartz reefs close to existing underground development infrastructure. Throughout the June quarter White Rock continued its diamond drilling program at the Woods Point Gold Project with results returned in the Gap Zone and at Exhibition Reef.

Drilling within the Gap Zone at Morning Star Gold Mine returned significant gold intercepts in May 2022 with drill hole 22GZL9013 returning 0.4m @ 621 g/t gold 2 from a quartz reef interval. Final screen fire assays were subsequently returned grading this hole at 740g/t gold 3 . Earlier drilling revealed at least 10 of these quartz reef structures in the Gap Zone area (refer Figure 1).

A further significant intercept was recorded in drill hole 22GZL9016 which returned 0.25 metres @ 972 g/t gold 3 (31 ounces per tonne of gold) in a quartz reef interval with abundant visible gold from the Achilles Reef in the Gap Zone.

These results provide further encouragement to White Rock's priority of targeting high-grade gold for drill testing in the Gap Zone. The Gap Zone represents an area with 200m of vertical extent between areas of historic mining that occurred above 10-level (>500,000 ounces) and below 14-level (>300,000 ounces), with historic production1 of 883,000oz gold at 26.5g/t Au. Figure 1.

Figure 1: Morning Star underground gold mine long section looking west, showing the current interpretation of multiple quartz reefs and associated alteration halos in yellow, historic interpretation of the host dyke in pale green, development in blue and drill hole traces in black and white.

Exploration will continue to progress from underground, where the drill rig recently completed a broad first pass assessment across the 600 metres of horizontal extent, testing the Gap Zone's potential to host significant mineralised quartz reefs.

The latest phase of infill drilling from surface has highlighted the potential of the Exhibition Reef to provide an additional working area for the upcoming recommencement of mining activities. Figure 2 highlights the area where a significant "high-grade" zone could extend for more than 100m strike and up to 40m down- dip. The Exhibition Reef "high-grade" target area includes the following intersections11 :

Figure 2: Exhibition Reef long section plan view showing the Morning Star host dyke (green), historic mining and mine development (blue) and all historic & current drill hole traces with pierce point intersections. The "high-grade" target area with 100 metres of strike and 40 metres across strike extent is defined by drill intercept pierce points shown.

White Rock is assessing the potential for five gold production working areas, providing a pathway to recommence mining at:

Figure 3: Long section view looking towards the west showing the Morning Star host dyke (green), historic mining and mine development (blue) and all historic & current drill hole traces.

The success of drilling has now provided the impetus for the Company to commence the necessary preproduction development ahead of the scheduled recommencement of gold production in Q3 2022.

White Rock Minerals plans to become a gold producer by restarting the Morning Star Mine (refer Figures 4 and 5).

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White Rock Minerals Ltd. published this content on 27 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2022 23:27:07 UTC.