Venus Metals Corporation Limited (ASX:VMC) Shallow Thick Magmatic PGE Drill Intersection at Youanmi

Venus Metals Corporation Limited (ASX:VMC) is pleased to announce the results of reverse circulation (RC) drilling from its Base Metals- PGE Project at the Vidure Prospect (E57/1011 -Venus 90%) and the Vidure South Prospect (E57/1019- Venus 100%) and P57/1365 (Venus 90%) targeting magmatic Palladium-Platinum-Gold-Copper-Nickel (PGE-Au-Cu-Ni) mineralization (Figure 1*).

HIGHLIGHTS:

- Recent drilling of RC hole VMC023 in the southern part of the Youanmi Igneous Complex confirms the presence of PGE mineralization in fresh ultramafic rock and extends the PGE-base metals mineralization previously intersected in VDRC003 (refer ASX release 29 Nov 2019).

- Best intersections in VMC023 include:

30m @ 0.95 g/t Pt+Pd+Au & 0.22% Cu & 0.24% Ni from 40m including
11m @ 1.12 g/t Pt+Pd+Au & 0.18% Cu & 0.26% Ni from 52m and
3m @ 1.64 g/t Pt+Pd+Au & 0.32% Cu & 0.42% Ni from 66m.

- The PGE mineralization remains open at depth (Figure 2A) and along strike; grades appear to increase with depth.

- Previous RC hole VDRC003 intersected 38m @ 0.78 g/t Pt+Pd from 20m depth including 12m @ 1.32 g/t Pt+Pd, 0.20% Cu and 0.37% Ni from 45m (refer ASX release 29 Nov 2019) and is located near a strong historical Pt-Pd auger anomaly (Figure 2B*) that measures c. 300x400m (refer ASX releases 25 January 2021).

FUTURE WORK:

- The Company is planning further immediate RC drilling that will target the Vidure PGE-Cu-Ni mineralization at depth beneath VMC023 and along strike to the north and to the south.

- A comprehensive review of all historical geophysical data in the project area by Southern Geoscience Consultants is in progress and is anticipated to be received shortly.

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/5T5PSE2J

Matt Hogan
Managing Director
Venus Metals Corporation Limited
Tel: +61 8 9321 7541