AERIS RESOURCES LIMITED — Capital/Financing Update 2021

May 26, 2021

ASX/MEDIA RELEASE

27 May 2021

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CORRECTION TO ASX ANNOUNCEMENT DATED 27 May 2021 – “CONSTELLATION CONTINUES TO SHINE”

Aeris Resources Limited (ASX:AIS) would like to provide a corrected version of announcement released to the ASX in relation to Constellation. Figure 1 has been replaced.

Yours sincerely

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Rob Brainsbury Company Secretary

Aeris Resources Limited ABN 30 147 131 977

Level 2, HQ South Tower, 520 Wickham Street, Fortitude Valley QLD 4006 Australia Post: Box 14, 520 Wickham Street, Fortitude Valley, QLD 4006

E : info@aerisresources.com.au T: +61 7 3034 6200 F: +61 7 3034 6290 aerisresources.com.au

27 MAY 2021

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ASX/MEDIA RELEASE

CONSTELLATION CONTINUES TO SHINE

Highlights:

• TAKD019 intersects a 60m thick sulphide interval (ranging from disseminated to massive) from 140m down hole (assays pending)

• The Reverse Circulation (RC) drill program has defined a significant shallow oxide/supergene enriched copper footprint from 5m below surface (assays pending)

• Diamond drilling continues to expand the down plunge and along strike extents of the mineralised system associated with the larger/deeper Moving Loop EM (MLTEM) plate:

• TAKD011 - 1.75m @ 8.54% Cu, 5.62g/t Au, 21.9g/t Ag (from 346.85m[1] )

• Five new diamond holes (TAKD015 – TAKD019) have all intersected the sulphide horizon (assays pending)

• Downhole electromagnetic (DHEM) surveying has defined a second EM conductor at depth, beneath the known mineralised system

• Application made for further 40 RC drill holes to further define potential near surface mineralisation

• Mineralisation now traced 850m down plunge and remains open down plunge and along strike

1 Interval length selection based the entire logged sulphide intersection. The reported interval does not apply a Cu cut-off grade.

Aeris Resources Limited ABN 30 147 131 977

Level 2, HQ South Tower, 520 Wickham Street, Fortitude Valley QLD 4006 Australia Post: Box 14, 520 Wickham Street, Fortitude Valley, QLD 4006 E : info@aerisresources.com.au T: +61 7 3034 6200 F: +61 7 3034 6290 aerisresources.com.au

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Established Australian copper-gold producer and explorer , Aeris Resources Limited (ASX: AIS) (Aeris or the Company) is pleased to provide an update on exploration activities at the Constellation deposit, located within the Company’s 100% owned Tritton tenement package in New South Wales.

Aeris’ Executive Chairman, Andre Labuschagne, said: “Constellation continues to provide exciting results from both the drilling program and the DHEM surveying.”

“The 60m sulphide intersection in TAKD019 is particularly exciting, however further drilling is required to understand its significance in relation to the other drilling results, both up-and-down-dip from its location.”

“The RC drill program has surpassed our expectations. Intersecting oxide and supergene copper mineralisation from near surface to approximately 130m below surface, over a 120m long strike length, is a fantastic outcome.”

“The mineralised system has now been traced approximately 850m down plunge and between 120m to 150m along strike, from 5m below surface. The Constellation deposit is shaping up as a copper rich system with clear open pit opportunities.”

Figure 1 – Plan view showing location of drill holes completed at the Constellation deposit and the interpreted extents of the mineralised system.

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Figure 2 – Cross section through the Constellation deposit showing completed drill holes along the section plane. The copper sulphide envelope is defined by the orange wireframe. The 60m thick sulphide interval from TAKD019 is denoted by the solid red line.

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TAKD019

Diamond drill hole TAKD019 targeted the untested ground between the RC drill holes and the shallowest diamond drill hole (TAKD009 - 0.7m @ 2.58% Cu) – see Figures 1 and 2 above. TAKD019 intersected an approximatly 60m thick zone containing variable quantities of sulphides (pyrite with lesser chalcopyrite) from 140m down hole (130m below surface) (assays pending).

The significant sulphide intersection from TAKD019 is materially greater than any other drill intersection recorded at Constellation to date. It is not yet clear why the sulphide package is significantly thicker in TAKD019, or how it correlates with sulphide intersections in the surrounding drill holes. To ensure the entire mineralised system around TAKD019 is defined it is likely the surrounding RC drill holes will require extending. A review of the completed RC drill holes is underway.

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RC Drill Program

RC drilling at the Constellation deposit is focused on defining the lateral extents of shallow oxide/supergene enriched copper mineralisation intersected in diamond drill hole TAKD002 (3.55m @ 22.56% Cu) and two modeled EM plates via ground MLTEM and DHEM surveys.

This drill program is well advanced with 43 of the 60 holes approved having been drilled to date. Drilling has targeted an initial 40m x 40m grid, with follow-up infill drilling at 20m x 20m spacing. As the Constellation deposit straddles 3 of Aeris’ exploration tenements, an application has been made for a further 40 RC drill holes so that drilling can be extended into the adjoining exploration tenements to continue chasing the copper system further along strike.

RC drilling to date has intersected oxide (malachite & azurite), supergene (chalcocite), native copper and primary (chalcopyrite) copper mineralisation from 5m below surface, over a 120m strike length, to approximately 130m below surface. The lateral extents of the chalcocite +/- chalcopyrite horizon are significantly greater than anticipated, compared to the small footprint from the modelled EM plates.

Of the 43 RC holes completed to date, 35 have intersected various forms of copper mineralisation (assays pending). Based on visual estimates of copper mineral content and textures, significant intersections include:

• TAKRC038 - 11m of chalcocite +/- chalcopyrite from 54m (visual estimate >50% sulphides);

• TAKRC039 - 7m of chalcocite +/- chalcopyrite from 94m (visual estimate >50% sulphides);

• TAKRC040 - 8m of chalcocite +/- chalcopyrite from 46m (visual estimate >50% sulphides); and

• TAKRC027 - 2m of chalcocite +/- chalcopyrite from 64m (visual estimate >50% sulphides).

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Three different mineralised layers have been identified from the RC drill program:

1. An upper oxide copper horizon forms a sub-horizontal “blanket” from near surface to a nominal 40m below surface. Copper minerals within the oxide blanket are primarily malachite and azurite;

2. A zone of supergene enrichment occurs beneath the oxide blanket. The primary copper mineral associated with supergene enrichment at Constellation is chalcocite. The supergene zone forms along the mineralised structure, striking north - south and dipping moderately to the southeast; and

3. From approximately 130m below surface, the proportion of chalcocite reduces with chalcopyrite becoming the dominant copper mineral. The transition to chalcopyrite rich mineralisation demarcates the base of the supergene zone.

Figure 3 – Plan view showing the completed RC drill holes at the Constellation deposit. Drill holes include visual % estimates of combined chalcocite (cc) and chalcopyrite (cpy).

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Diamond Drill Program

Diamond drilling at the Constellation deposit has continued to focus on testing the larger MLTEM plate. Of the 19 drill holes completed to date, 17 have targeted this MLTEM plate.

Five drill holes have been completed since the previous ASX update (refer to ASX Announcement “Constellation Update” dated 22[nd] April 2021) with all intersecting copper sulphide mineralisation:

• TAKD015 tested the down plunge extents to the mineralised system. The drill hole intersected the sulphide horizon (assays pending) approximately 80m below the previously deepest intersection (TAKD014);

• TAKD016, TAKD017 and TAKD018 tested the northern extents to the mineralised system beneath TAKD010 (25.0m @ 0.66% Cu, including 7.0m @ 1.43% Cu). All three drill holes intersected the sulphide horizon (assays pending); and

• TAKD019 targeted the untested ground between the RC drill holes and the shallowest diamond drill hole (TAKD009). TAKD019 intersected an approximatly 60m thick zone containing variable quantities of sulphides (pyrite with lesser chalcopyrite) from 140m down hole (130m below surface) (assays pending).

Assay results have also been received for drill hole TAKD011 (1.75m @ 8.54% Cu, 5.62g/t Au, 21.9g/t Ag). The drill hole intersected the sulphide horizon along the interpreted south margin of the mineralised system.

A summary of diamond drill hole intersections at the Constellation deposit are listed below in Table 1.

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Table 1: Summary of diamond drill holes completed at the Constellation deposit. Updated information, compared to the table included in the 22 April 2021 ASX announcement, is shaded in grey.

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Drill Hole Result
TAKD001 19.95m @ 2.41% Cu, 0.64g/t Au and 4.6g/t Ag
TAKD002 3.55m @22.56% Cu, 2.57g/t Au and 16.1g/t Ag
TAKD003 27.1m @ 1.61% Cu, 0.43g/t Au and 3.4g/t Ag
TAKD004 Failed to intersect copper sulphide horizon on northern perimeter
TAKD005 2.6m @6.10% Cu, 0.99g/t Au and 11.0g/t Ag
TAKD006 5.85m @ 4.60% Cu, 0.96g/t Au and 28.6g/t Ag
TAKD007 24.6m @ 1.45% Cu, 0.49g/t Au, 3.0g/t Ag
TAKD008 Hole abandoned due to drill deviating too far from target
TAKD009 0.70m @ 2.58% Cu, 0.61g/t Au, 6.9g/t Ag
25.0m @ 0.66% Cu, 0.71g/t Au, 1.1g/t Ag from 211m including 7.0m
TAKD010
@ 1.43% Cu, 1.77g/t Au, 2.4g/t Ag from 221m
TAKD011 1.75m @ 8.54% Cu, 5.62g/t Au, 21.9g/t Ag
TAKD012 intersected an approx.10 metre thick (true thickness)
TAKD012
sulphide interval (assays pending)
TAKD013 Failed to intersect copper sulphide horizon on northern perimeter
TAKD014 intersected an approximate 19 metre thick (true
TAKD014
thickness) sulphide interval (assays pending)
TAKD015 TAKD015 intersected an approx. 18m thick sulphide interval
TAKD016 TAKD016 intersected an approx. 8m thick sulphide interval (assays
TAKD017 TAKD017 intersected an approx. 20m thick sulphide interval
TAKD018 TAKD018 intersected an approx.16m thick sulphide interval (assays
TAKD019 TAKD019 intersected an approx.60m thick sulphide interval (assays
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Downhole EM Surveying

DHEM surveying detected a new EM conductor at depth beneath the known sulphide body at Constellation. Drilling to date has not intersected this modelled EM conductor, although TAKD015 intersected a 50cm thick pyrite and pyrrhotite rich massive sulphide lens at the interpreted target depth, 60m south from the modelled plate.

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Technical Discussion

Results from the RC program indicate the thicker and higher conductance “core” identified from the two modelled near-surface EM plates is part of a larger chalcocite dominant mineralised system. This is an encouraging result highlighting the potential to extend the supergene enriched chalcocite horizon further south with additional drilling in areas which did not detect an EM response.

A sub-horizontal copper oxide horizon is present from near surface (~5m) down to a nominal 40m below surface. Oxide copper minerals (malachite and azurite) have been observed over a ~200m (north – south) x ~150m (east – west) footprint. Visual % estimates of combined malachite and azurite are generally low at ≤5% with local occurrences up to 25 – 50% in places.

Below the copper oxide domain the mineralised structure(s) intersected from the deeper diamond drill holes have been subjected to supergene enrichment down to a nominal 130m below surface. Within the supergene enrichment zone the dominant copper mineral is chalcocite, a high grade copper mineral. Toward the base of the supergene enriched zone chalcopyrite becomes increasingly prevalent.

The mineralised system has now been traced approximately 850m down plunge and between 120m to 150m along strike.

Four EM plates have been identified to date. The two near surface plates are interpreted to be part of the supergene mineralisation being identified in the RC drill program. The larger, deeper MLTEM plate is the focus of the current diamond drilling program. A second EM conductor at depth, below the MLTEM conductor, has recently been identified from downhole surveying. This new EM conductor has yet to be drill tested.

This announcement is authorised for lodgement by:

Andre Labuschagne Executive Chairman

ENDS

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For further information, please contact: Mr. Andre Labuschagne Executive Chairman Tel: +61 7 3034 6200, or visit our website at www.aerisresources.com.au

Media:

Peta Baldwin Cannings Purple Tel: 0477 955 677 pbaldwin@canningspurple.com.au

About Aeris

Aeris Resources Limited (ASX: AIS) is a diversified mining and exploration company. The Company has a growing portfolio of copper and gold operations, development projects and exploration prospects. Aeris has a clear vision to become a mid-tier mining company with a focus on gold and base metals, delivering shareholder value.

Aeris’ Board and management team bring decades of corporate and technical expertise in a lean corporate structure. Its leadership has a shared, and highly disciplined focus on operational excellence, and an enduring commitment to building strong partnerships with the Company’s workforces and key stakeholders.

Headquartered in Brisbane, in FY21 Aeris is forecasting to produce between 22,500 and 23,500 tonnes of copper from its Tritton Copper Operation in New South Wales, and between 70,000 and 75,000 ounces of gold from its Cracow Gold Operation in Queensland.

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Appendix A:

Table 1 – Constellation drill hole collar and survey details.

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RL Total
Hole ID Easting [1] (m) Northing [1] (m) Dip Azimuth [2] Type
(m) Depth (m)
TAKRC001 498,315 6,561,138 155 -70 ⁰ 260 ⁰ 50 RC
TAKRC002 498,356 6,561,124 155 -70 ⁰ 260 ⁰ 50 RC
TAKRC003 498,397 6,561,110 155 -70 ⁰ 260 ⁰ 50 RC
TAKRC004 498,438 6,561,096 155 -70 ⁰ 260 ⁰ 82 RC
TAKRC005 498,479 6,561,082 155 -70 ⁰ 260 ⁰ 72 RC
TAKRC006 498,520 6,561,068 155 -70 ⁰ 260 ⁰ 144 RC
TAKRC007 498,460 6,561,173 155 -70 ⁰ 260 ⁰ 70 RC
TAKRC008 498,449 6,561,135 155 -70 ⁰ 260 ⁰ 80 RC
TAKRC009 498,427 6,561,058 155 -70 ⁰ 260 ⁰ 108 RC
TAKRC010 498,386 6,561,072 155 -70 ⁰ 260 ⁰ 84 RC
TAKRC011 498,345 6,561,085 155 -70 ⁰ 260 ⁰ 78 RC
TAKRC012 498,304 6,561,100 155 -70 ⁰ 260 ⁰ 50 RC
TAKRC013 498,367 6,561,163 155 -70 ⁰ 260 ⁰ 50 RC
TAKRC014 498,408 6,561,149 155 -70 ⁰ 260 ⁰ 60 RC
TAKRC015 498,490 6,561,121 155 -70 ⁰ 260 ⁰ 100 RC
TAKRC016 498,531 6,561,107 155 -70 ⁰ 260 ⁰ 120 RC
TAKRC017 498,468 6,561,044 155 -70 ⁰ 260 ⁰ 129 RC
TAKRC018 498,509 6,561,030 155 -70 ⁰ 260 ⁰ 144 RC
TAKRC019 498,334 6,561,047 155 -70 ⁰ 260 ⁰ 50 RC
TAKRC020 498,371 6,561,021 155 -70 ⁰ 260 ⁰ 100 RC
TAKRC021 498,416 6,561,019 155 -70 ⁰ 260 ⁰ 120 RC
TAKRC022 498,457 6,561,005 155 -70 ⁰ 260 ⁰ 140 RC
TAKRC023 498,498 6,560,991 155 -70 ⁰ 260 ⁰ 156 RC
TAKRC024 498,318 6,561,072 155 -70 ⁰ 260 ⁰ 84 RC
TAKRC025 498,308 6,561,034 155 -70 ⁰ 260 ⁰ 84 RC
TAKRC026 498,348 6,561,020 155 -70 ⁰ 260 ⁰ 84 RC
TAKRC027 498,390 6,561,005 155 -70 ⁰ 260 ⁰ 102 RC
TAKRC028 498,430 6,560,992 155 -70 ⁰ 260 ⁰ 132 RC
TAKRC029 498,323 6,561,009 155 -70 ⁰ 260 ⁰ 84 RC
TAKRC030 498,364 6,560,995 155 -70 ⁰ 260 ⁰ 120 RC
TAKRC031 498,405 6,560,981 155 -70 ⁰ 260 ⁰ 120 RC
TAKRC032 498,359 6,561,058 155 -70 ⁰ 260 ⁰ 84 RC
TAKRC033 498,400 6,561,046 155 -70 ⁰ 260 ⁰ 120 RC
TAKRC034 498,440 6,561,031 155 -70 ⁰ 260 ⁰ 138 RC
TAKRC035 498,482 6,561,017 155 -70 ⁰ 260 ⁰ 156 RC
TAKRC036 498,328 6,561,111 155 -70 ⁰ 260 ⁰ 84 RC
TAKRC037 498,370 6,561,097 155 -70 ⁰ 260 ⁰ 96 RC
TAKRC038 498,410 6,561,083 155 -70 ⁰ 260 ⁰ 65 RC
TAKRC039 498,452 6,561,069 155 -70 ⁰ 260 ⁰ 103 RC
TAKRC040 498,493 6,561,055 155 -70 ⁰ 260 ⁰ 54 RC
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TAKRC041 498,380 6,561,135 155 -70 ⁰ 260 ⁰ 84 RC
TAKRC042 498,422 6,561,121 155 -70 ⁰ 260 ⁰ 120 RC
TAKRC043 498,463 6,561,108 155 -70 ⁰ 260 ⁰ 138 RC
TAKD015 499,224 6,560,923 155 -70 ⁰ 246 ⁰ 651.8 Diamond
TAKD016 498,860 6,560,999 155 -70 ⁰ 260 ⁰ 342.8 Diamond
TAKD017 498,946 9,560,966 155 -70 ⁰ 260 ⁰ 380.0 Diamond
TAKD018 498,915 6,561,019 155 -70 ⁰ 260 ⁰ 348.0 Diamond
TAKD019 498,561 6,561,054 155 -70 ⁰ 260 ⁰ 249.7 Diamond
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1 Easting and northing coordinates are reported in AGD66 Zone 55

2 Azimuth is recorded as a magnetic azimuth reading.

Table 2 – Significant assay intervals from diamond drill holes reported.

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Hole ID From (m) To (m) Interval Est. true Cu (%) Au (g/t) Ag (g/t)
(m) width (m)
TAKD011 [1] 346.85 348.6 1.75 1.75 8.54 5.62 21.9
TAKD015 Sulphides intersected. Drill hole awaiting logging / sampling
TAKD016 Sulphides intersected. Drill hole awaiting logging / sampling
TAKD017 Sulphides intersected. Drill hole awaiting logging / sampling
TAKD018 Sulphides intersected. Drill hole awaiting logging / sampling
TAKD019 Sulphides intersected. Drill hole awaiting logging / sampling
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1 Reported assay interval selection based on the inclusion of the entire logged sulphide intersection. The interval does not apply a Cu cut-off grade.

Table 3: Significant assay intervals from RC drill holes reported. Significant intersections based on visual % copper minerals.

mal – malachite, az – azurite, cc – chalcocite, cpy – chalcopyrite, nat. cu – native copper.

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mal/az % cc/cpy % nat. Cu %
Hole ID From (m) To (m)
(visual estimate) (visual estimate) (visual estimate)
TAKRC003 10 26 1 - 5 - -
TAKRC003 40 42 ≤1
TAKRC003 46 50 50
TAKRC004 64 71 >50
TAKRC004 74 75 >50
TAKRC005 22 31 ≤1
TAKRC006 104 113 >50
TAKRC006 116 112 1 - 5
TAKRC006 133 136 >50
TAKRC008 19 28 ≤1
TAKRC008 43 51 ≤1
TAKRC009 23 33 ≤1
TAKRC009 46 49 1 - 5
TAKRC009 94 99 1 – 5
TAKRC009 100 106 ≤1
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TAKRC010 34 38 1 - 5
TAKRC010 42 43 >50
TAKRC010 43 47 5 - 10
TAKRC010 47 55 1 - 5
TAKRC010 63 68 1 - 5
TAKRC011 18 30 1 - 5
TAKRC012 17 40 1 - 5
TAKRC017 21 28 1 – 5
TAKRC019 3 23 ≤1
TAKRC019 23 24 5 - 10
TAKRC019 33 41 1 - 5
TAKRC019 46 49 25 - 50
TAKRC021 86 97 1 - 5
TAKRC022 124 126 10 - 25
TAKRC024 8 15 1 - 5
TAKRC024 15 21 10 - 25
TAKRC024 21 28 25 - 50
TAKRC024 28 40 1 - 5
TAKRC025 13 17 10 - 25
TAKRC025 17 34 5 - 10
TAKRC025 45 53 25 - 50
TAKRC026 10 19 ≤1
TAKRC026 51 54 10 - 25
TAKRC027 64 66 >50
TAKRC028 108 116 1 - 5
TAKRC029 54 57 1 - 5
TAKRC030 59 68 1 - 5
TAKRC031 88 91 10 - 25
TAKRC032 10 23 1 - 5
TAKRC032 27 37 1 - 5
TAKRC032 50 62 10 - 25
TAKRC033 85 90 10 - 25
TAKRC034 68 76 ≤1
TAKRC034 110 115 1 - 5
TAKRC035 127 129 1 - 5
TAKRC038 54 65 >50
TAKRC039 94 101 >50
TAKRC040 46 54 >50
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Competent Persons Statement – Exploration Results

The information in this report that relates to Exploration Results is based on information compiled by Bradley Cox, a Competent Person who is a Member of the Australasian Institute of Mining and Metallurgy. Bradley Cox is a full-time employee of Aeris Resources. Bradley Cox has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being 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’. Bradley Cox consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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Appendix B

JORC Code, 2012 Edition – Table 1 Section 1 Sampling Techniques and Data Constellation drill program

Criteria	Commentary
Sampling techniques	RC Program 1. All samples will be collected from reverse circulation (RC) drilling. 2. The supervising geologist is deciding based on visual information whether to collect 1m sample, or 4m composite sample. 1m samples are collected directly off the cyclone splitter. 4m samples are collected by spearing the bulk sample collected for each metre. Any 4m composite sample where assay results warrant, the 1m samples from the composite are sent for analysis. 3. Blanks, Standards and Field duplicates used at a frequency rate of 1:20. 4. Samples are sent to an independent and accredited laboratory (ALS). Diamond Program 1. All samples will be collected from diamond drill core. 2. Samples will be taken across intervals with visible sulphides. Samples will be collected between 0.4m to 1.4m. Sample lengths take into consideration geology.
Drilling techniques	RC Program 1. Drilling results are reported from RC samples. 2. RC drilling is completed using a 5 inch diameter drill bit. Diamond Program 1. Drilling results reported are via diamond drill core. Drill holes completed are either drilled at a HQ diameter or a HQ and NQ diameter. Drill holes TAKD001 and TAKD002 were drilled via HQ and NQ diameter. Drill holes from TAKD003 to TAKD014 were drilled via HQ diameter core.
Drill sample recovery	1. RC Program 2. Sample recoveries from the RC drill program is on average grater than 90%. An assessment of recovery is made at the drill rig during drilling and is determined via visual observations of sample return to the cyclone. 3. Water has been intersected in a small number of drill holes. Those holes reporting water have been stopped. The intention is to complete those holes using a diamond tail. Samples collected from holes reporting water are considered representative. 4. No sample bias was observed. Diamond Program 1. Core recoveries are recorded by the drillers on site at the drill rig. Core recoveries are checked and verified by an Aeris Resources field technician and/or geologist. 2. Diamond drill core is pieced together as part of the core orientationprocess. Duringthisprocess depth intervals are

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Criteria	Commentary
	recorded on the core and checked against downhole depths recorded by drillers on core blocks within the core trays. 3. Historically core recoveries are very high within and outside zones of mineralisation across each of the known deposits. All drill holes completed at the Constellation deposit report good core recoveries through the mineralised horizon. Drill hole TAKD002 did report some core loss through the mineralised horizon. Estimated core loss through the mineralised zone is approximately 25%. Similar core loss is seen immediately above and below the massive sulphide lens. Further drilling in the immediate vicinity will be designed to reduce core loss through the mineralised zones.
Logging	1. All RC chips and diamond drill core is logged by an Aeris Resources geologist or a fully trained contract geologist under Aeris Supervision. Diamond core and RC chips are logged to an appropriate level of detail to increase the level of geological knowledge and increase the geological understanding at the Constellation deposit. RC Program 1. Each 1m sample interval is geologically logged, recording lithology, presence/concentration of sulphides and alteration. 2. All geological data recorded during the logging process is stored in Aeris Resources’ AcQuire database. 3. Chip trays are stored onsite in a secure facility. Diamond Program 1. All diamond core is geologically logged, recording lithology, presence/concentration of sulphides, alteration, and structure. 2. All geological data recorded during the core logging process is stored in Aeris Resources’ AcQuire database. 3. All diamond drill core will be photographed and digitally stored on the Company network. 4. Core is stored in core trays and labelled with downhole meterage intervals and drill hole ID.
Sub-sampling techniques and sample preparation	RC Program 1. All samples are collected in a consistent manner. 1m samples are collected from the cyclone splitter. The on site geologist determines whether 1m samples or 4m composite samples are collected for laboratory analysis. The intent is to ensure samples which are within or proximal to mineralisation are sampled at 1m intervals. 2. Field duplicates have been collected at a rate of 1:20. 3. Standards and blanks are inserted at a frequency rate of 1:20. 4. The sample size is considered appropriate for the style of mineralisation and grain size of the material being sampled. Diamond Program 1. All samples are collected in a consistent manner. Samples are cut via an automatic core saw, and half core samples are collected between sample lengths from 0.4m and a maximum length of 1.4 metres.

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Criteria Commentary
2. No field duplicates have been collected.
3. The sample size is considered appropriate for the style of
mineralisation and grain size of the material being sampled.
Quality of assay RC Program
data and 1. All samples have been sent to the ALS Laboratory Services at their
laboratory tests Orange facility for sample preparation. Samples are split via a riffle
splitter. A ~3kg sub sample is collected and pulverised to a
nominal 85% passing 75 microns.
2. Samples are assayed via ALS analytical method ME-OG46, an
aqua regia digest with an ICP finish. Elements reported via ME-
OG46 include Cu, Ag and Zn. Au assaying is via a 30g fire assay
charge (Au-AA22) using an AAS finish. If an Au assay exceeds 1g/t
Au a second 30g sample is assayed via Au-AA26 - a more
accurate analytical method for Au assays exceeding 1g/t Au.
3. QA/QC protocols include the use of blanks, duplicates, and
standards (commercial certified reference materials used). The
frequency rate for each QA/QC sample type is 1:20.
Diamond Program
1. All samples have been sent to the ALS Laboratory Services at their
Orange facility.
2. Samples are analysed by a 3-stage aqua regia digestion with an
ICP finish (suitable for Cu 0.01-1%) – ALS method ME-ICP41.
Samples with Cu assays exceeding 1% are re-submitted for an
aqua regia digest using ICP-AES analysis – ALS method ME-OG46.
Au analyses are completed on a 30g fire assay fusion with an AAS
finish (suitable for Au grades between 0.001-10ppm) – ALS method
Au-AA22. If a sample records an Au grade above 1ppm a second
sample will be re-submitted for another 30g fire assay charge using
ALS method AuAA25 (0.01-100ppm).
3. Cu and Ag assays reported from TAKD011 were assayed via the
ALS method ME-OG46 only. Au assays were completed using the
same protocols described above i.e. Au-AA22. If Au grade >1 g/t
then use analytical method Au-AA25 for those particular samples.
4. QA/QC protocols include the use of blanks, duplicates, and
standards (commercial certified reference materials used). The
frequency rate for each QA/QC sample type is 5%.
Verification of RC and Diamond Programs
sampling and 1. Logged drillholes are reviewed by the logging geologist and a
assaying senior geologist. All geological data is logged directly into Aeris
Resources’ logging computers following the standard Aeris
Resources geology codes. Data is transferred to the AcQuire
database and validated on entry.
2. Upon receipt of the assay data no adjustments are made to the
assay values.
Location of data 1. Drillhole collar locations are collected on a handheld GPS unit
with an accuracy of approximately +/- 5m.
points
2. All drillhole locations are collected in Australian Geodetic Datum
66 zone 55.
3. Quality and accuracy of the drill collars are suitable for exploration
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Criteria Commentary
results.
4. Downhole surveys are completed by the drill contractor. RC drill
holes TAKRC001 – TAKRC003 were surveyed using a Reflex
Multishot camera. Survey information is taken at the completion
of each hole at 20m or 30m intervals. For all other RC holes
reported using a Reflex gyroscopic tool measuring azimuth and
dip orientations every 30m, or shorter intervals if required. Down
hole surveying of diamond drill holes are completed using a Reflex
gyroscopic tool measuring azimuth and dip orientations every
30m, or shorter intervals if required.
Data spacing and RC Program
distribution 1. RC drilling completed at the Constellation deposit was designed
initially on a nominal 40m x 40m drill pattern. Drill holes with logged
visual sulphides have been followed up with infill RC holes at a
nominal 20m x 20m spacing.
2. The drill holes have been designed to test for mineralisation within
the oxide and supergene mineralised horizons.
3. A 20m x 20m nominal drill spacing over the oxide and supergene
horizon is considered sufficient to understand the spatial
distribution of copper mineralisation for eventual conversion to a
Mineral Resource.
Diamond Program
1. Drilling completed at the Constellation deposit is designed on a
nominal 80m x 80m drill pattern.
2. The drill holes have been designed to test for mineralisation within
the bounds of the modelled MLTEM plate.
3. Drill spacing is not applicable at this early stage of the drill
program.
Orientation of data RC and Diamond Programs
in relation to 1. All drillholes are designed to intersect the target at, or near right
geological angles.
structure 2. A majority of drillholes completed have not deviated significantly
from the planned drillhole path. A limited number of RC drill holes
intersected water within the mineralised zone and were
abandoned. Those holes will be extended via diamond drilling at
a later date.
3. Drillhole intersections through the target zone(s) are not biased.
Sample security RC and Diamond Programs
1. Drill holes sampled at the Constellation deposit will not be
sampled in their entirety.
2. Sample security protocols follow current procedures which
include: samples are secured within calico bags and transported
to the laboratory in Orange, NSW via a courier service or with
company personal.
Audits or reviews RC and Diamond Programs
1. Data is validated when uploading into the Company’s AcQuire
database.
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Criteria	Commentary
	2. No formal audit has been conducted.

Section 2 Reporting of Exploration Results Constellation drill program

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Criteria Commentary
Mineral tenement 1. The Tritton Regional Tenement package is located approximately 45km
and land tenure northwest of the township of Nyngan in central western New South
Wales.
status
2. The Tritton Regional Tenement package consists of 8 Exploration
Licences and 3 Mining Leases. The mineral and mining rights are owned
100% by the Company’s subsidiary, Tritton Resources Pty Ltd.
3. The Constellation deposit is located within EL6126, EL8084 and EL8987.
All three exploration licences are in good standing and no known
impediments exist.
Exploration done 1. There has not been a significant amount of exploration completed over
by other parties and around the Constellation deposit. Burdett Exploration NL held the
ground between May 1971 – May 1972 however conducted no work
over the area. Nord Pacific Limited (Nord) held the ground under EL3930
between 1991 – 2002 and identified several GeoTEM EM anomalies
further north beyond the Constellation deposit. Nord completed two
lines of surface geochemistry sampling over each GeoTEM EM anomaly.
No further work was completed following the geochemical sampling
program. The Geochem results did not warrant any further work. No on-
ground exploration has been completed over the area since 2002.
Geology 1. Regionally, mineralisation is hosted within early to mid-Ordovician
turbidite sediments, forming part of the Girilambone group.
Mineralisation is hosted within greenschist facies, ductile deformed
pelitic to psammitic sediments, and sparse zones of courser sandstones.
2. Sulphide mineralisation within the Tritton tenement package is
dominated by banded to stringer pyrite – chalcopyrite, with a massive
pyrite-chalcopyrite unit along the hanging wall contact. Alteration
assemblages adjacent to mineralisation is characterised by an ankerite
footwall and silica sericite hanging wall.
Drillhole 1. All relevant information pertaining to each drillhole has been provided.
information
Data aggregation 1. N/A
methods
Relationship 1. Drillholes are designed to intersect the target horizon across strike at or
between near right angles.
mineralisation
widths and
intercept lengths
Diagrams 1. Relevant diagrams are included in the body of the report.
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Criteria	Commentary
Balanced reporting	1. The reporting is considered balanced and all material information associated with the electromagnetic surveys has been disclosed.
Other substantive exploration data	1. There is no other relevant substantive exploration data to report.
Further work	1. Drilling will continue at the Constellation deposit with all three drill rigs operating for a majority of the remaining FY21 period.

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