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E2 METALS exploration and development ASX Announcement September 2021 Quarterly Report 25 October 2021 E2 Metals ( E2 or the Company ) is pleased to present the quarterly report for the period ended 30 September 2021 and provide an update on exploration activities across the Company's portfolio . Highlights Update on the Conserrat gold and silver project ( Santa Cruz , Argentina ) Drilling and systematic exploration re - commenced in September following the winter break . Gold and silver assay results confirm Malvina to be a new discovery : CODD - 147 : 8m at 0.9gpt Au , 186gpt Ag ( 3.6 AuEq ) from 125m , inc . 2.5m at 0.8gpt Au , 574gpt Ag ( 9.0 AuEq ) from 125m CODD - 152 2m at 4gpt Au , 754gpt Ag ( 14.8 AuEq ) from 100.8m , inc . 1m at 7.8gpt Au , 1417gpt Ag ( 28gpt AuEq ) from 100.8m . • Gold and silver mineralised veins are defined over a 375m strike and are open to the northwest Follow up drilling at Emilia returns further high - grade mineralisation , including : CODD - 138 : CODD - 143 29m at 1.6gpt Au , 15gpt Ag ( 1.8gpt AuEq ) from 41m , inc . 1m at 39gpt Au , 54gpt Ag ( 40gpt AuEq ) from 42m 4m at 0.5gpt Au , 351gpt Ag ( 5.5gpt AuEq ) from 75.5m , inc . 1m at 0.5gpt Au , 1296gpt Ag ( 19gpt AuEq ) from 78.5m A second Reverse Circulation ( RC ) drill rig is on site to accelerate drilling at all prospects . Metallurgical test work on composite drill hole samples from Mia returned greater than 90 % Au recovery by conventional cyanide bottle roll for oxide zone composites . 1Gold equivalent grades calculated at spot price of U $ 1750 / oz gold and U $ 25 / oz silver ( Au + Ag / 70 ) E2 Metals Limited ABN : 34 116 865 546 ASX Code : E2M Issued Capital 150.5M fully paid ordinary shares Directors / Secretary Brad Evans Chair Todd Williams Managing Director Peter Mullens Non - Executive Director Melanie Leydin Non - Executive Director & Secretary Address Level 4 , 100 Albert Road South Melbourne VIC 3205 P : +61 3 9692 7222 F : +61 3 9077 9233 E : info@e2metals.com.au E2