LOYAL METALS LTD — Regulatory Filings 2021

Dec 16, 2021

ASX RELEASE

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17 December 2021

Mt Monger South Geological Mapping Program Commences

Highlights:

• Systematic sampling program commences at Mt Monger South

• Sampling will be followed by a major Auger Vacuum drill program in Q1 2022.

• Vacuum samples will utilize the CSIRO Ultrafine fraction soil technique.

• Planning for drilling at Mt Monger North where recent assays returned up to 190 g/t is nearing completion.

Monger Gold Limited ( ASX: MMG ) (“ Monger ” or the “ Company ”) is pleased to announce that it has commenced a systematic geological fact mapping and sampling program across the entire 13 (thirteen) tenements of its greenfield Mt Monger South Project (figure 1). The work program will focus on mapping and sampling outcrop, subcrop, float and identify regolith types, especially in areas of transported materials that have the potential to conceal gold and base metal deposits.

MMG will plan a major vacuum drill program to commence in the first quarter 2022 and this geological mapping program will assist in focusing the location of these drill holes. Samples from the vacuum drilling will utilise the CSIRO Ultrafine fraction soil technique (MMG announcement 11 August 2021 – “Monger Gold signs Agreement with CSIRO for enhanced exploration”) and believes a combination of end-of-hole geochemistry in basement rocks in conjunction with surface soils will enable enhanced exploration success.

The contract has been awarded to geological consultant, Ben Nicolson, of New Finds Minerals Exploration Pty Limited. Mr Nicolson has global experience as a geologist having held senior positions with Hastings Technology Metals Ltd, The Geological Survey of South Australia, Polaris Metals NL, Aurelian Resources and Ivanhoe Mines Mongolia Incorporated and is a JORC (2012) Competent Person for the reporting of exploration results.

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Directors: Exploration Manager: Peretz Schapiro Darren Allingham Andrew Graham Company Secretary: Romy Hersham Ian Pamensky

Office : P: (08) 6245 2490 602/566 St Kilda Road E: info@mongergold.com.au Melbourne VIC 3004 W: www.mongergold.com.au

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Figure 1: MMG Projects illustrating Mt Monger South Project location on right side of plan

This announcement has been approved for release by the Board of MMG.

For Further Information:

Peretz Schapiro Non-Executive Chairman info@mongergold.com.au

About Monger Gold

Monger Gold Limited is a well structured listed gold exploration company with projects in Western Australia, ~50KM SE of Kalgoorlie. Through the systematic exploration of its tenements, The Company aims to delineate JORC compliant gold resources, creating value for its shareholders.

Competent Persons Statement

The information in this report that relates to Exploration Results is based on information compiled by Mr Darren Allingham who is an employee of the Company and a Fellow of the Australian Institute of Geoscientists and who has sufficient experience relevant to the styles of mineralisation and the types of deposit under consideration, and to the activity that has been undertaken, to qualify as a

Competent Person as defined in the 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.” Mr Allingham consents to the inclusion in this report of information compiled by him in the form and context in which it appears.

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