Horizon Minerals Limited: Quarterly Activities Report 31 March 2022

Perth, Australia - Horizon Minerals Ltd. (ASX:HRZ) provide the quarterly activities report for the period ending 31 March 2022.

HIGHLIGHTS

- Strong Pre-Feasibility Study results and demerger update released for the world class 1.8Bt Richmond vanadium project in northwest Queensland

- Toll milling campaigns from the Boorara open pit low grade stockpiles completed with 98,121t processed in total at a reconciled grade of 0.93g/t generating $1.35m net cash

- Positive Pre-Feasibility Study results released for the high-grade Cannon underground project with evaluation progressing on the Penny's Find and Rose Hill projects for potential sequential development under a contract mining - toll milling model

- CY 2022 exploration drilling program commenced testing multi-commodity targets at Yarmany, Lakewood, the Greater Boorara area and Binduli

- Further excellent gold results received from Golden Ridge including:

o 2m @ 26.11g/t Au from 69m (GRC21007) and 2m @ 20.77g/t Au from 80m (GRC21007)

o 14m @ 3.62g/t Au from 106m (GRC21014)

o 5m @ 8.06g/t Au from 57m (GRC21035)

- First pass drilling at Yarmany intercepts gold, nickel-cobalt-copper and lithium mineralisation with drilling ongoing along the 50km strike zone

- First pass multi-element composite results received south of Golden Ridge with widespread nickel, cobalt, copper and silver mineralisation intercepted

- Excellent resource extension drilling results released from the Crake gold project

- Historic Feasibility Study review and preliminary concentrate option study completed for the Nimbus silver - zinc project

- Divestment of a portion of the Company's listed investments nets $2 million in cash

- Cash at the end of quarter of A$3.8 million and listed investments totalling A$7.5 million

*To view the quarterly report, please visit:
https://abnnewswire.net/lnk/Q0USZ519

About Horizon Minerals Limited:

Horizon Minerals Ltd. (ASX:HRZ) is a gold exploration and mining company focussed on the Kalgoorlie and Menzies areas of Western Australia which are host to some of Australia's richest gold deposits. The Company is developing a mining pipeline of projects to generate cash and self-fund aggressive exploration, mine developments and further acquisitions. The Teal gold mine has been recently completed.

Horizon is aiming to significantly grow its JORC-Compliant Mineral Resources, complete definitive feasibility studies on core high grade open cut and underground projects and build a sustainable development pipeline.

Horizon has a number of joint ventures in place across multiple commodities and regions of Australia providing exposure to Vanadium, Copper, PGE's, Gold and Nickel/Cobalt. Our quality joint venture partners are earning in to our project areas by spending over $20 million over 5 years enabling focus on the gold business while maintaining upside leverage.

Source:
Horizon Minerals Ltd.

Contact:

Jon Price Managing Director T: +61 8 9386 9534 E: jon.price@horizonminerals.com.au Michael Vaughan Media Relations - Fivemark Partners T: +61 422 602 720 E: michael.vaughan@fivemark.com.au