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HILLGROVE RESOURCES Friday , 27 August 2021 ASX RELEASE RESULTS FOR THE HALF YEAR ENDED 30 JUNE 2021 HALF YEAR FINANCIAL PERFORMANCE S Results for the period ( $ million ) Cash and receivables less payables Revenue Statutory profit / ( loss ) EBITDA Underlying profit / ( loss ) OUTLOOK 6 months to 30 June 2021 6 months to 30 June 2020 Change 5.6 5.3 0.3 - 20.4 ( 20.4 ) ( 2.8 ) ( 4.9 ) 2.1 ( 2.7 ) ( 2.9 ) 0.2 ( 2.8 ) ( 4.9 ) 2.1 Drilling during the first half of 2021 has delivered excellent results which is expected to both increase the size and geological confidence of the existing Mineral Resource Estimate . Drilling has demonstrated the potential to continue to grow the mineable inventory in a number of areas , including : S • - Kavanagh which is open along strike and at depth . Drilling has confirmed many intersections well beyond the extents of the 2020 Mineral Resource Estimate , particularly down dip and to the South . SW Kavanagh and Spitfire - which were mined during the open pit and now demonstrated to continue up to 130m below the pit and open at depth . Drilling continued in the second half on these areas with view to bring them into the initial mine plan as they would be mined from the same development decline as the primary Kavanagh lodes , and as such , have potential to increase minable inventory for low incremental cost . Nugent - which contains the highest gold content and remains open at depth . North Kavanagh - an area of significant interest where historical exploration drilling and grade control from the pit highlight potential for another lode system . The Company plans to continue drilling to bring some of these areas into the initial mine plan ahead of a planned restart in 2022 . For more information contact : Mr Lachlan Wallace CEO & Managing Director Tel : +61 8 7070 1698 IIII HILLGROVE RESOURCES LIMITED ACN 004 297 116 www.hillgroveresources.com.au 5-7 King William Road , Unley SA 5061 , Australia T +61 8 7070 1698