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ALBION RESOURCES LIMITED M&A Activity 2024

Nov 27, 2024

64359_rns_2024-11-27_4af26fb3-4178-45a1-bd90-899aea33bbb1.pdf

M&A Activity

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28 November 2024

Acquisition of High-Grade Yandal West Gold Project

  • Albion has signed a binding tenement purchase agreement to acquire the Yandal West Gold Project (“Project”) from Great Western Exploration Limited (ASX: GTE)

  • The Project is located in the world class Yandal Greenstone Belt, ~55km north of the Bronzewing Gold Mine and ~60km south of the Jundee Gold Mine (both owned by Northern Star, ASX: NST) in Western Australia’s Northeastern Goldfields

  • The Project is adjacent to the recent Siona gold discovery made by Yandal Resources (ASX: YRL) which reported 107m @ 1.0g/t Au from 96m to end of hole (estimated true width of ~30m) (see ASX YRL announcement 15 November 2024)

  • Several shallow high-grade gold targets have been identified within the Project for priority testing, including the Barwidgee Fault, Ives Find and May Queen Targets

  • The Company plans to aggressively explore the Barwidgee Fault Target, which represents an exciting drill ready target (heritage clearance already completed) with the potential to host a large gold mineralised system over its ~3km strike (not including potential parallel shears). First-pass proof of concept drilling in 2023 returned significant gold results including 4m @ 9.0g/t from 39m and 7m @ 1.02g/t from 23m (23YWRC023, GTE).

  • The Ives Find Target represents possible analogies to YRL’s Siona discovery. Significant intersections from Ives Find include:

  • 4m @ 8.5g/t Au from 38m (IFRC004)

  • 3m @ 52.3g/t Au from 34m (IFRC005)

  • 6m @ 4.7g/t Au from 54m including 2m @ 13.0g/t Au (IFRC017)

  • The May Queen target is west and parallel to the Barwidgee Fault and underscores the potential for parallel structures of this prospective fault trend. Significant results previously recorded at May Queen include:

  • 4m @ 25.7g/t Au from 60m (HFRC022)

  • 16m @ 1.64g/t Au from 13m (HFRC019)

  • Average drill hole depth of only 55 meters offers exploration potential at depth

  • Experienced mining executive Chris Tuckwell will join the Board as a NonExecutive Director on completion of the acquisition, with Julian Jarman to step down

  • Albion Directors, who hold a combined total of 18% of the ordinary shares on issue, have confirmed they will vote in favour of the Acquisition

  • Contemporaneous with the acquisition, Albion is conducting a capital raising (refer to today’s Trading Halt announcement)

Albion Resources Limited (“ Albion ” or the “ Company ”) is pleased to announce that it has entered into a binding tenement purchase agreement (the “ Agreement ”) to acquire the Yandal West Gold Project (“ Project ”) from Great Western Exploration Limited (ASX: GTE), located in the highly prospective Yandal Greenstone Belt in Western Australia’s Northeastern Goldfields. Completion of the Agreement is subject to conditions precedent, including Albion shareholder approval being obtained.

Albion’s Non-Executive Chairman, Steven Formica, commented:

“I am delighted to announce the proposed acquisition of the Yandal West Project to Albion shareholders. The Project is strategically located in a proven gold producing belt, positioned in-between the Bronzewing and Jundee gold mines operating by Northern Star and surrounded by critical infrastructure. The Yandal Belt continues to demonstrate its potential for major gold discoveries with the recent Siona gold discovery made by Yandal Resources (ASX: YRL) which reported 107m @ 1.0g/t from 96m to end of hole (estimated true width of ~30m).

The Acquisition will see Great Western Exploration (ASX: GTE) become a strategic substantial holder in the Company. We look forward to progressing the significant exploration potential across the gold targets we have inherited from GTE’s work as they now focus on their multiple high-impact drill programmes at their Sumo Niobium Target and Six Juggernaut VHMS Targets, to follow drilling at their Oval and Oval South Copper-Gold targets which is now underway.

With several shallow high-grade gold targets identified for priority testing, including the Barwidgee Fault which is drill ready with heritage clearance already completed, we intend to begin an aggressive exploration program on completion of the acquisition, which should provide a steady stream of exciting news flow for shareholders in 2025.”

Yandal West Gold Project

The Yandal West Gold Project encompasses three contiguous tenements, E53/1612, E53/1816 and E53/1369, covering a total area of 61km[2] . On completion of the acquisition and subject to conditions precedent being met (including shareholder approval), Albion will acquire an 80% ownership in E53/1612 and E53/1816 (20% Diversified Asset Holdings Pty Ltd) and 100% ownership in E53/1369.

The Project lies within the Northeastern Goldfields Province of the Yilgarn Craton, in the northern section of the Yandal Greenstone Belt (Figure 1). The Yandal Greenstone Belt is an elongate, fault-bounded, northnorthwest-trending belt of Archean mafic rocks and intercalated banded iron formations and felsic volcaniclastic rocks. The belt contains the multi-million-ounce Jundee and Bronzewing gold deposits owned and operated by Northern Star Resources (ASX: NST). The Mt McClure Fault and parallel structures that are spatially related to numerous gold occurrences in the wider area, pass through the Project area including the Project’s Bariwidgee Fault discovery where 4m @ 9.0g/t from 39m and 7m @ 1.02g/t from 23m was intersected in 23YWRC023 (See ASX GTE announcement 8 November 2023).

The Project is adjacent to the recent Siona gold discovery made by Yandal Resources (ASX: YRL) which reported:

  • 107m @ 1.0g/t from 96m to end of hole (estimated true width of ~30m) (24IWBRC0039, YRL); and

  • 40m along strike of 24IWBRC0039 returned an intercept of 80m @ 1.0g/t from 67m (estimated true width of ~28m) (241WBRC0047, YRL) (see ASX YRL announcement 25 November 2024).

The Siona discovery has been made on a 4.4 x 2km granitic intrusion within the greenstone. Similar geological settings occur at the Ives Find and potentially the May Queen Prospect areas where significant historical gold intersections have been returned related to similar granite intrusive within the greenstone.

2

==> picture [350 x 612] intentionally omitted <==

----- Start of picture text -----

Jundee Operations
(Northern Star)
Flushing
Meadows Siona Discovery
ASX/YRL
Yandal West
Project Tenement
Outline
Bronzewing Operations
(Northern Star)
Mt McLure
----- End of picture text -----

Figure 1: GSWA 1:2,500,000 bedrock geology map showing the location of the Yandal West Project on the Yandal Greenstone Belt and major gold mines and discoveries.

3

==> picture [390 x 440] intentionally omitted <==

----- Start of picture text -----

E53/1612
E53/1369
(Basalt)
(BIF)
(Granite)
(Granite) E53/1816
(Mafic Intrusive)
(Sedimentary)
(Felsic Volcanic)
----- End of picture text -----

Figure 2: GSWA 1:500,000 bedrock geology map and the location of the granite and porphyry intrusives (from GSWA 1:250,00 surface geology map) and location of main gold occurrences.

Key Target Areas at Yandal West:

Barwidgee Fault Target

The Barwidgee Fault is a discrete largely untested structure evident in both magnetic and radiometric data interpretation.

Four drill-holes completed by GTE in 2023 tested below and along strike from anomalous legacy Rotary Air Blast (RAB) drilling (GTE ASX Announcement 15 September 2022) and high-grade rock-chip results including 23.5g/t Au in the northern defined extremities of the Barwidgee Fault (GTE ASX Announcement 5 July 2017), Figure 3 and 4. This drill program resulted in significant assay results from drill-hole 23YWRC023 including 4m @ 9.0g/t Au from 39m and 7m @ 1.02g/t Au from 23m, and validated the prospectivity of the Barwidgee Fault.

The significant results were recorded from a logged basalt-chert sheared contact, interpreted to dip to the west. Based on this interpretation, the mineralisation recorded by 23YWRC023 was not intersected by hole 23YWRC022 (Figure 3), 23YWRC024 (located 50m south) and 23YWRC025 (positioned 600m to the north) and legacy RAB holes angled to the west potentially paralleled 23YWRC023.

4

==> picture [454 x 315] intentionally omitted <==

----- Start of picture text -----

7m @ 1.02g/t Au from 23m
4m @ 9.00g/t Au from 39m
----- End of picture text -----

Figure 3: Cross section at Barwidigee Fault Prospect drilling.

Harris Find is a shallow drill defined gold mineralisation system hosted in the southern defined extremities of the Barwidgee Fault (Figure 4). Significant intercepts in historical drilling at Harris Find include:

  • 7m @ 4.3g/t Au from 27m (H11)

  • 12m @ 2.1g/t Au from 35m (GYWRC009)

  • 7m@ 1.13g/t Au from 44m (GYWRC017)

  • 2m @ 6.55g/t Au from 26m (H5)

The Barwidgee Fault target represents an exciting drill ready target (heritage clearance already completed) with the potential to host a large gold mineralised system over its ~3km strike, not including any potential parallel shears. The Company plans to immediately follow up this drill target following acquisition completion which will comprise RC drilling as well as further geochemistry and geophysics along the highly prospective unexplored 2km strike to the south.

5

==> picture [393 x 559] intentionally omitted <==

----- Start of picture text -----

4m @ 9.00g/t Au from 39m and
7m @ 1.02g/t Au from 23m
H-5 GYWRC17
H-11 GYWRC09
----- End of picture text -----

Figure 4: Drill collar locations along the Barwidgee Fault structure as well as significant rock assay results overlaid on Geological Survey of Western Australia 1:500,000 Geological Map

Ives Find

The Ives Find Target covers the historic Ives Find gold mining centre where total historic production of 2,019t of ore for a total of 740 ounces of gold recovered (at an average grade of 11.4g/t Au) has been recorded.

Historical drilling at several prospects (Bell Miner, Duck, Duckling) across the Ives Find target intercepted the following shallow, high-grade drilling results (Figure 5):

6

  • CRC-12: 7m @ 7.4 g/t gold from 32m (incl 1m @ 23.0 g/t) - Bell Miner

  • CRC-14: 3m @ 11.2 g/t gold from 42m (incl 2m @ 16.0 g/t) - Bell Miner

  • IFRC003: 7m @ 2.52 g/t gold from 34m (incl 2m @ 4.8 g/t) - Bell Miner

  • IFRC004: 4m @ 8.52 g/t gold from 38m (incl 2m at 15.6 g/t Au) - Bell Miner

  • IFRC005: 3m @ 52.38 g/t gold from 34m - Bell Miner

  • IFRC017: 6m @ 4.72 g/t gold from 54m (incl 2m @ 13.02 g/t) – Bell Miner

  • IFRC087: 3m @ 15.02 g/t gold from 51m – Bell Miner

  • IFRC058: 6m @ 5.10g/t gold from 36m (incl 1m at 21.0 g/t Au) - Duckling

  • IFRC066: 4m @ 7.10g/t gold from 58m (incl 1m at 18.5 g/t Au) - Duck

  • IFRC069: 4m @ 6.16g/t gold from 32m (incl 1m at 22.2 g/t Au) - Duck

The significant intersections at the Bell Miner and other prospects in the Ives Find Prospect area are all hosted close to the western contact of a granite intrusive that extends for 4 km by 750m (Figure 2). The geological setting at the Ives Find intrusive is very similar style as the recent Siona gold discovery by Yandal Resources, which reported 107m @ 1.0g/t from 96m to end of hole (estimated true width of ~30m).

==> picture [413 x 473] intentionally omitted <==

Figure 5: Interpreted geology map of the Ives Find granite intrusive showing the distribution of RC and diamond drill holes and significant drilling intersections

7

The majority of drilling to date has focused on the central western portion of the Ives Find granite intrusive. The remaining areas of the intrusive remain underexplored (Figure 2). Interestingly, the Siona discovery occurs along the contact which has not been tested at Ives Find. It is encouraging to see several significant drilling intersections open at depth at Bell Miner within the granite (Figure 5) and these areas represent walk up drill targets in the area as well as the untested eastern shear contact.

The Company plans to compile and review all the historical drilling, soil and rock geochemistry to identify and define new target areas for further exploration work and drill testing.

May Queen

The May Queen Target area presents a geological setting of a greenstone belt that has been intruded by several granite intrusions of various sizes similar to Ives Find target and the Siona gold discovery by Yandal Resources. The mapped geology at May Queen Target is supported by magnetics data interpretation that suggests a consistent package of NW-trending greenstone rocks that has intruded by granitic intrusives.

Previously completed drilling at several prospects (May Queen, MQW1, MQW3, MQE1) across the May Queen Target has resulted in the following shallow, significant drilling results:

  • HFRC022: 4m @ 25.7g/t Au from 60m – May Queen

  • HFRC019: 16m @ 1.6g/t Au from 13m incl. 3m at 7.7 g/t Au & 17m at 0.8 g/t Au - MQW3

  • HFRC005: 2m @ 3.6g/t Au from 69m and 4m at 1.6 g/t Au from 53m – May Queen

  • HFRC070: 2m @ 6.6g/t Au from 44m incl. 1m at 12.6 g/t Au – MQE1

==> picture [281 x 394] intentionally omitted <==

----- Start of picture text -----

(HFRC05)
2m @ 3.6g/t Au
and 4m @ 1.6 g/t Au
(HFRC22)
4m @ 25.7g/t Au
Incl. 1m @ 98.7 g/t Au
(HFRC70)
2m @ 6.6g/t Au
Incl. 1m @ 12.6 g/t Au
(HFRC19)
16m @ 1.6g/t Au
Incl. 3m at 7.7 g/t Au
and 17m @ 0.8 g/t Au
----- End of picture text -----

Figure 6: GSWA 100K geology map of the May Queen area with several granite intrusives showing the distribution of RC and diamond drill holes and significant drilling intersections

8

The majority of legacy drilling intersections are primarily structurally hosted mineralisation within basalt for example at May Queen and MQE1 and most likely represent the southern extent of the highly prospective Barwidgee Fault (Figure 6). However, further to the south at MQW3 significant mineralisation has been intersected in what has been mapped as granite which is potentially a similar geological setting to the Siona discovery. The larger widths of mineralisation within the granite in HFRC19 support bulk tonnage potential similar to Siona. Given these encouraging developments, the Company plans to compile and review all the historical drilling, soil and rock geochemistry to identify and define new target areas for further exploration work and drill testing.

Acquisition Terms

Subject to the Company obtaining shareholder approval for the issue of securities below ( Consideration Securities ) and GTE delivering relevant documents to enable the transfer of the Project (together, the Conditions ), the Company proposes to pay the following consideration to acquire the Project:

  • 22,222,222 fully paid ordinary shares ( Consideration Shares ) (with a deemed issue price of $0.045 per Share representing consideration valued at $1,000,000); and

  • 30,000,000 performance rights with the following milestones and expiry dates ( Performance Rights ):

Tranche Number Milestone Expiry Date
A 15,000,000 Company declaring under the JORC Code a
minimum 250,000 ounce contained gold inferred,
indicated and/or measured Mineral Resource with
a grade of at least 0.75 g/t (and cut-off grade of at
least 0.5 g/t)		 5 years from
the date of
issue
B 15,000,000 Company announcing a Decision to Mine* 5 years from
the date of
issue
  • Decision to Mine means a decision made by the Company to commence commercial mining operations on one or more of the Project tenements.

If the Conditions are not met by 10 February 2025, then the Agreement may be terminated.

Tenement E53/1369 is the subject of a pending extension application, seeking to extend the life of E53/1369 until 24 September 2026. In the event the pending extension of E53/1369 is not obtained, GTE has agreed that 7,407,407 Consideration Shares will be bought back by the Company for total consideration of $1. These Consideration Shares will be subject to a holding lock for a period commencing on the completion date of the Agreement and ending on the earlier of the grant of the extension of E53/1369 or the date a buyback is approved by Albion's shareholders.

The Agreement is otherwise considered to contain standard terms for agreements of this nature.

As part of the proposed transaction, the Company proposes to appoint Chris Tuckwell (as an independent nominee of GTE) to the board of ALB as a non-executive director. Chris is currently a non-executive director of ASX listed Arrow Minerals Ltd and has previous experience as a director of ASX listed companies including having been the Managing Director of MACA Limited. Mr Tuckwell has over 40 years’ experience in mining, mining services and mine development.

Completion of the Acquisition is expected in mid-January 2025.

9

Trading Halt Pending Capital Raise

Contemporaneous with the Acquisition, Albion is conducting a capital raising (refer to today’s Trading Halt announcement).

This announcement has been approved for release by the Board.

FOR FURTHER INFORMATION:

Steven Formica Non-Executive Chairman [email protected]

COMPETENT PERSONS STATEMENT

The information in this announcement that relates to Exploration Results is based on and fairly represents information and supporting documentation prepared by Mr Leo Horn. Mr Horn is an independent consultant and a member of the Australian Institute of Geoscientists. Mr Horn has sufficient experience relevant to the styles of mineralisation and types of deposits which are covered in this announcement and to the activity which they are undertaking 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’ (“JORC Code”). Mr Horn consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.

Table 1: Significant drilling intersections on the Yandal West Project reported within this announcement at 0.2, 0.5, 1.0, 4.0 and 5.0 g/t Au cut-off

Hole ID From m To m Interval **Goldg/t ** Cutoffg/t Au Prospect Notes
23YWRC023 23 30 7 1.01 0.5 Barwidgee Fault
including 26 27 1 2.08 1 Barwidgee Fault
also including 29 30 1 3.5 1 Barwidgee Fault
and 39 43 4 9 0.5 Barwidgee Fault
including 41 42 1 34.5 5 Barwidgee Fault
23YWRC022 94 100 6 0.36 0.1 Barwidgee Fault
including 97 98 1 0.75 0.5 Barwidgee Fault
also including 99 100 1 0.65 0.5 Barwidgee Fault
IFRC032 16 20 4 3.87 1 Bell Miner North
including 18 19 1 6.27 5 Bell Miner North
IFRC029 6 9 3 2.38 0.5 Bell Miner North
including 7 9 2 3.24 1 Bell Miner North
IFRC030 2 6 4 0.54 0.5 Bell Miner North
including 5 6 1 1.08 1 Bell Miner North
CRC-12 32 39 7 7.4 0.5 Bell Miner
including 32 35 3 5.68 5 Bell Miner
including 37 38 1 23 5 Bell Miner
IFRC001 43 46 3 2 0.2 Bell Miner
including 43 44 1 5.33 5 Bell Miner
IFRC003 34 41 7 2.52 1 Bell Miner
including 35 37 2 4.77 4 Bell Miner

10

Hole ID From m To m Interval Goldg/t Cutoffg/t Au Prospect Notes
IFRC015 44 48 4 6.12 1 Bell Miner Mineralised at end of hole
including 47 48 1 18.9 5 Bell Miner Mineralised at end of hole
IFRC087 51 54 3 15.02 0.5 Bell Miner
including 52 54 2 22.15 5 Bell Miner
CRC-13 30 35 5 4.63 1 Bell Miner
including 30 31 1 6.45 1 Bell Miner
also including 33 34 1 14.04 1 Bell Miner
IFRC017 54 60 6 4.72 0.5 Bell Miner
including 55 57 2 13 1 Bell Miner
also including 55 56 1 21.6 5 Bell Miner
IFRC088 74 76 2 4.86 0.5 Bell Miner
including 74 75 1 9.15 5 Bell Miner
CRC-14 42 45 3 11.17 1 Bell Miner
including 42 44 2 16.03 5 Bell Miner
IFRC004 38 42 4 8.52 0.5 Bell Miner
including 38 40 2 15.65 5 Bell Miner
IFRC005 34 37 3 52.37 1 Bell Miner
including 34 36 2 78 5 Bell Miner
IFRC058 36 42 6 5.09 1 Duckling
including 38 39 1 21 5 Duckling
IFRC066 58 62 4 7.1 1 Duck
including 60 61 1 18.5 5 Duck
IFRC069 32 36 4 6.16 0.5 Duck
including 33 34 1 22.16 5 Duck
HFRC005 53 57 4 1.61 1 May Queen
and 69 71 2 3.64 1 May Queen
HFRC022 60 64 4 25.74 1 May Queen
including 62 63 1 98.7 5 MayQueen
HFRC070 44 46 2 6.61 0.5 MQE1
including 44 45 1 12.6 5 MQE1
HFRC019 13 29 16 1.64 0.2 MQW3
including 13 16 3 7.72 4 MQW3
and 33 35 2 3.64 1 MQW3
and 60 77 17 0.84 0.2 MQW3
including 63 64 1 5.92 5 MQW3
also including 69 75 6 1.07 0.5 MQW3
H-11 27 34 7 4.31 0.5 Harris Find
including 29 31 2 11.99 5 Harris Find
H-5 26 28 2 6.55 0.5 Harris Find
including 27 28 1 12.5 5 Harris Find
GYWRC009 37 49 12 2.09 0.5 Harris Find
including 38 39 1 5.99 5 Harris Find
GYWRC017 44 51 7 1.13 0.5 Harris Find

11

Table 2: Collar Locations for all RC and Diamond drilling across the Yandal West Project

Hole ID Prospect **Drill Type ** East North Elevation Coord. Syst. Depth Company
23YWRC020 Jewel RC 281503.0 7018307.0 524.7 GDA94_51S 60 GTE
23YWRC021 Golden Orb RC 282841.0 7016811.0 513.3 GDA94_51S 90 GTE
23YWRC022 Barwidgee Fault RC 279967.4 7022126.6 553.9 GDA94_51S 106 GTE
23YWRC023 Barwidgee Fault RC 279923.8 7022110.7 555.5 GDA94_51S 94 GTE
23YWRC024 Barwidgee Fault RC 279992.0 7022093.0 552.8 GDA94_51S 100 GTE
23YWRC025 Barwidgee Fault RC 279641.3 7022685.0 555.2 GDA94_51S 91 GTE
CRC 1 May Queen Reward RC 278732.0 7021248.0 539.7 GDA94_51S 40 Sabre
CRC 10 May Queen Reward RC 278364.0 7021912.0 543.2 GDA94_51S 42 Sabre
CRC 11 May Queen Reward RC 278404.0 7021810.0 542.5 GDA94_51S 42 Sabre
CRC 12 May Queen Reward RC 278403.7 7021800.8 538.6 GDA94_51S 42 Sabre
CRC 13 May Queen Reward RC 278390.0 7021756.0 541.1 GDA94_51S 40 Sabre
CRC 14 May Queen Reward RC 278387.0 7021739.0 540.4 GDA94_51S 52 Sabre
CRC 15 May Queen Reward RC 278370.0 7021755.0 541.1 GDA94_51S 38 Sabre
CRC 16 May Queen Reward RC 278370.1 7021747.8 537.2 GDA94_51S 42 Sabre
CRC 17 May Queen Reward RC 278362.0 7021749.0 540.3 GDA94_51S 29 Sabre
CRC 18 May Queen Reward RC 278387.0 7021763.0 541.1 GDA94_51S 40 Sabre
CRC 19 May Queen Reward RC 278379.0 7021750.0 540.5 GDA94_51S 40 Sabre
CRC 2 May Queen Reward RC 278745.0 7021258.0 539.7 GDA94_51S 40 Sabre
CRC 3 May Queen Reward RC 278760.0 7021267.0 540.1 GDA94_51S 40 Sabre
CRC 4 May Queen Reward RC 278693.0 7021472.0 540.7 GDA94_51S 40 Sabre
CRC 5 May Queen Reward RC 278375.0 7022454.0 542.5 GDA94_51S 40 Sabre
CRC 6 May Queen Reward RC 278389.0 7022459.0 542.5 GDA94_51S 40 Sabre
CRC 7 May Queen Reward RC 278426.0 7022015.0 545.4 GDA94_51S 40 Sabre
CRC 8 May Queen Reward RC 278427.0 7021958.0 545.1 GDA94_51S 30 Sabre
CRC 9 May Queen Reward RC 278437.0 7021941.0 544.8 GDA94_51S 42 Sabre
GYWDD013 Harris Find DD 280896.0 7020358.0 536.2 GDA94_51S 120.5 GTE
GYWRC001 Yandal EM RC 281027.7 7020034.5 524.3 GDA94_51S 130 GTE
GYWRC002 Yandal EM RC 281084.1 7020046.2 524.7 GDA94_51S 170 GTE
GYWRC003 Yandal EM RC 281055.1 7020080.4 525.5 GDA94_51S 170 GTE
GYWRC004 Yandal EM RC 281115.6 7020006.2 523.6 GDA94_51S 180 GTE
GYWRC005 Yandal EM RC 281178.3 7020575.1 531.4 GDA94_51S 50 GTE
GYWRC006 Yandal EM RC 281221.4 7020639.4 532.7 GDA94_51S 180 GTE
GYWRC007 Yandal EM RC 281018.4 7020960.9 543.6 GDA94_51S 80 GTE
GYWRC008 Yandal EM RC 282336.2 7021857.7 553.1 GDA94_51S 100 GTE
GYWRC009 Harris Find RC 280876.7 7020358.2 530.8 GDA94_51S 90 GTE
GYWRC010 Harris Find RC 280895.4 7020366.4 532.7 GDA94_51S 82 GTE
GYWRC011 Harris Find RC 280941.9 7020380.3 538.3 GDA94_51S 198 GTE
GYWRC012 Harris Find RC 281000.4 7020159.4 528.0 GDA94_51S 180 GTE
GYWRC014 Harris Find RC 280919.0 7020330.0 536.5 GDA94_51S 72 GTE
GYWRC015 Harris Find RC 280903.0 7020344.0 535.7 GDA94_51S 84 GTE
GYWRC016 Harris Find RC 280888.0 7020381.0 535.8 GDA94_51S 102 GTE
GYWRC017 Harris Find RC 280888.0 7020381.0 535.8 GDA94_51S 90 GTE
GYWRC018 Harris Find RC 280893.0 7020401.0 536.7 GDA94_51S 84 GTE
GYWRC019 Harris Find RC 280898.0 7020375.0 536.2 GDA94_51S 156 GTE

12

Hole ID Prospect Drill Type East North Elevation Coord. Syst. Depth Company
H-1 Harris Find - Ives RC 280825.6 7020393.2 534.1 GDA94_51S 33 Galtrad
H-11 Harris Find - Ives RC 280876.6 7020360.2 535.4 GDA94_51S 40 Galtrad
H-2 Harris Find - Ives RC 280845.6 7020397.2 535.0 GDA94_51S 35 Galtrad
H-3 Harris Find - Ives RC 280856.6 7020401.2 535.0 GDA94_51S 35 Galtrad
H-4 Harris Find - Ives RC 280859.6 7020384.2 535.0 GDA94_51S 27 Galtrad
H-5 Harris Find - Ives RC 280867.6 7020384.2 535.8 GDA94_51S 35 Galtrad
H-6 Harris Find - Ives RC 280872.6 7020346.2 534.8 GDA94_51S 29 Galtrad
H-7 Unassigned RC 280890.2 7020320.7 535.0 GDA94_51S 23 AUSUG
H-8 Harris Find - Ives RC 280951.6 7020231.2 533.9 GDA94_51S 29 Galtrad
H-9 Unassigned RC 280825.1 7020465.8 535.1 GDA94_51S 27 AUSUG
HFDH001_01 Harris Find DD 281633.0 7017630.0 524.7 GDA94_51S 20 GTE
HFDH001_02 Harris Find DD 281633.0 7017630.0 524.7 GDA94_51S 28 GTE
HFDH002 Harris Find DD 281780.0 7017718.0 529.2 GDA94_51S 180 GTE
HFRC001 Harris Find RC 282501.6 7018885.2 541.8 GDA94_51S 136 GTE
HFRC002 May Queen RC 281302.4 7017900.9 521.2 GDA94_51S 96 GTE
HFRC003 May Queen RC 281268.4 7017881.5 520.6 GDA94_51S 84 GTE
HFRC004 May Queen RC 281337.4 7017921.0 521.9 GDA94_51S 144 GTE
HFRC005 May Queen RC 281744.6 7017696.0 524.1 GDA94_51S 84 GTE
HFRC006 May Queen RC 281709.4 7017676.2 522.7 GDA94_51S 104 GTE
HFRC007 May Queen RC 281674.5 7017656.1 520.6 GDA94_51S 132 GTE
HFRC008 May Queen RC 281639.9 7017636.4 520.1 GDA94_51S 84 GTE
HFRC009 May Queen RC 281605.2 7017616.7 519.3 GDA94_51S 84 GTE
HFRC010 May Queen RC 281569.5 7017596.8 519.2 GDA94_51S 88 GTE
HFRC011 May Queen RC 281535.4 7017577.1 519.1 GDA94_51S 120 GTE
HFRC012 May Queen RC 281500.6 7017557.3 518.9 GDA94_51S 92 GTE
HFRC013 May Queen RC 281465.9 7017537.3 518.3 GDA94_51S 88 GTE
HFRC014 May Queen RC 281779.7 7017715.4 525.6 GDA94_51S 84 GTE
HFRC015 May Queen RC 282062.1 7017878.0 533.5 GDA94_51S 88 GTE
HFRC016 May Queen RC 282096.5 7017898.2 534.4 GDA94_51S 96 GTE
HFRC017 May Queen RC 282027.4 7017858.2 533.2 GDA94_51S 84 GTE
HFRC018 May Queen RC 282511.9 7016197.4 507.9 GDA94_51S 69 GTE
HFRC019 May Queen RC 282546.3 7016216.9 508.3 GDA94_51S 96 GTE
HFRC020 May Queen RC 282580.6 7016237.6 510.1 GDA94_51S 100 GTE
HFRC021 May Queen RC 282486.0 7016182.4 508.0 GDA94_51S 88 GTE
HFRC022 May Queen RC 281259.0 7017878.6 520.4 GDA94_51S 108 GTE
HFRC023 May Queen RC 281701.9 7017669.7 522.2 GDA94_51S 84 GTE
HFRC024 May Queen RC 281686.5 7017746.8 525.4 GDA94_51S 88 GTE
HFRC025 May Queen RC 281652.0 7017727.2 525.2 GDA94_51S 120 GTE
HFRC026 May Queen RC 281617.4 7017706.5 524.9 GDA94_51S 84 GTE
HFRC027 May Queen RC 281758.3 7017567.9 519.5 GDA94_51S 88 GTE
HFRC028 May Queen RC 281827.4 7017609.4 521.2 GDA94_51S 96 GTE
HFRC029 May Queen RC 281860.9 7017630.1 523.3 GDA94_51S 84 GTE
HFRC030 May Queen RC 281792.6 7017588.4 520.1 GDA94_51S 84 GTE
HFRC031 May Queen RC 281839.3 7017139.4 514.2 GDA94_51S 84 GTE
HFRC032 May Queen RC 281805.8 7017119.2 513.5 GDA94_51S 84 GTE

13

Hole ID Prospect Drill Type East North Elevation Coord. Syst. Depth Company
HFRC033 May Queen RC 281771.0 7017098.6 513.2 GDA94_51S 84 GTE
HFRC034 May Queen RC 281702.7 7017058.4 512.3 GDA94_51S 84 GTE
HFRC035 May Queen RC 281873.3 7017158.6 515.3 GDA94_51S 100 GTE
HFRC036 May Queen RC 281633.6 7017017.9 511.7 GDA94_51S 88 GTE
HFRC037 May Queen RC 281597.0 7016997.0 511.5 GDA94_51S 84 GTE
HFRC038 May Queen RC 281667.9 7017037.7 512.0 GDA94_51S 84 GTE
HFRC039 May Queen RC 281736.8 7017078.0 512.8 GDA94_51S 84 GTE
HFRC040 May Queen RC 282596.0 7016153.7 507.7 GDA94_51S 88 GTE
HFRC041 May Queen RC 282562.6 7016133.9 506.6 GDA94_51S 100 GTE
HFRC042 May Queen RC 282631.5 7016175.1 508.8 GDA94_51S 88 GTE
HFRC043 May Queen RC 282665.7 7016194.5 509.4 GDA94_51S 120 GTE
HFRC044 May Queen RC 282528.2 7016113.8 505.5 GDA94_51S 36 GTE
HFRC045 May Queen RC 281741.6 7017734.9 525.5 GDA94_51S 84 GTE
HFRC046 May Queen RC 281706.6 7017718.2 524.1 GDA94_51S 152 GTE
HFRC047 May Queen RC 281654.8 7017687.7 522.7 GDA94_51S 88 GTE
HFRC048 May Queen RC 282540.7 7016262.9 509.1 GDA94_51S 88 GTE
HFRC049 May Queen RC 282506.2 7016242.6 508.1 GDA94_51S 84 GTE
HFRC050 May Queen RC 282472.4 7016220.9 509.2 GDA94_51S 79 GTE
HFRC051 May Queen RC 282575.3 7016282.9 510.9 GDA94_51S 84 GTE
HFRC052 May Queen RC 282530.7 7016116.2 506.1 GDA94_51S 84 GTE
HFRC053 May Queen RC 282494.4 7016092.3 505.9 GDA94_51S 84 GTE
HFRC054 May Queen RC 282699.8 7016216.7 510.7 GDA94_51S 88 GTE
HFRC055 May Queen RC 283072.3 7015614.3 506.8 GDA94_51S 84 GTE
HFRC056 May Queen RC 283042.0 7015592.9 505.9 GDA94_51S 88 GTE
HFRC057 May Queen RC 282998.8 7015571.6 505.3 GDA94_51S 92 GTE
HFRC058 May Queen RC 281895.2 7017649.8 524.8 GDA94_51S 96 GTE
HFRC059 May Queen RC 281234.2 7017861.2 520.3 GDA94_51S 84 GTE
HFRC060 May Queen RC 281199.2 7017841.2 519.9 GDA94_51S 120 GTE
HFRC061 May Queen RC 281252.5 7017779.6 520.8 GDA94_51S 84 GTE
HFRC062 May Queen RC 281258.0 7017747.3 520.9 GDA94_51S 84 GTE
HFRC063 May Queen RC 282095.4 7017687.6 530.0 GDA94_51S 96 GTE
HFRC064 May Queen RC 282130.4 7017707.3 528.5 GDA94_51S 96 GTE
HFRC065 May Queen RC 282165.8 7017725.3 527.0 GDA94_51S 84 GTE
HFRC066 May Queen RC 282201.7 7017743.7 525.4 GDA94_51S 120 GTE
HFRC067 May Queen RC 282236.2 7017761.7 523.9 GDA94_51S 116 GTE
HFRC068 May Queen RC 282170.3 7017366.8 529.0 GDA94_51S 84 GTE
HFRC069 May Queen RC 282203.3 7017385.9 528.7 GDA94_51S 84 GTE
HFRC070 May Queen RC 282239.0 7017407.2 528.6 GDA94_51S 84 GTE
HFRC071 May Queen RC 282272.9 7017427.2 528.9 GDA94_51S 84 GTE
HFRC072 May Queen RC 282307.9 7017447.6 527.6 GDA94_51S 84 GTE
HFRC073 May Queen RC 282342.1 7017467.6 525.8 GDA94_51S 36 GTE
HFRC074 May Queen RC 282343.9 7017468.6 525.8 GDA94_51S 84 GTE
HFRC075 May Queen RC 282891.8 7015932.9 506.6 GDA94_51S 88 GTE
HFRC076 May Queen RC 282925.8 7015953.1 507.2 GDA94_51S 84 GTE
HFRC077 May Queen RC 282959.6 7015974.2 507.0 GDA94_51S 84 GTE

14

Hole ID Prospect Drill Type East North Elevation Coord. Syst. Depth Company
HFRC078 May Queen RC 282993.8 7015994.2 506.1 GDA94_51S 84 GTE
HFRC079 May Queen RC 282323.3 7016880.2 513.3 GDA94_51S 84 GTE
HFRC080 May Queen RC 282358.3 7016900.7 514.7 GDA94_51S 84 GTE
HFRC081 May Queen RC 282394.1 7016918.8 516.0 GDA94_51S 92 GTE
HFRC082 May Queen RC 282427.6 7016941.5 517.7 GDA94_51S 84 GTE
HFRC083 May Queen RC 282462.2 7016962.1 518.1 GDA94_51S 84 GTE
HFRC084 May Queen RC 281562.0 7017771.4 528.9 GDA94_51S 108 GTE
HFRC085 May Queen RC 281592.5 7017789.8 528.7 GDA94_51S 100 GTE
HFRC086 May Queen RC 281516.7 7017742.6 526.8 GDA94_51S 96 GTE
HFRC087 May Queen RC 281266.9 7017973.6 521.3 GDA94_51S 84 GTE
HFRC088 May Queen RC 281231.8 7017952.6 520.7 GDA94_51S 108 GTE
HFRC089 May Queen North RC 281242.1 7018087.8 522.8 GDA94_51S 27 GTE
HFRC090 May Queen RC 281242.1 7018087.8 522.8 GDA94_51S 88 GTE
HFRC091 May Queen RC 280977.0 7017852.7 519.3 GDA94_51S 72 GTE
HFRC092 May Queen RC 281626.9 7017809.4 529.3 GDA94_51S 92 GTE
HFRC093 Low Strain
Deformation		 RC 280767.5 7019784.3 528.4 GDA94_51S 84 GTE
HFRC094 Low Strain
Deformation		 RC 280801.9 7019805.9 527.7 GDA94_51S 84 GTE
HFRC095 May Queen RC 282185.1 7017423.2 528.5 GDA94_51S 84 GTE
HFRC096 May Queen RC 282220.3 7017442.5 529.0 GDA94_51S 92 GTE
HFRC097 May Queen RC 282254.2 7017462.9 530.0 GDA94_51S 84 GTE
HFRC098 Yandal RC 282266.2 7017367.9 525.6 GDA94_51S 84 GTE
HFRC099 Yandal RC 282149.2 7017507.3 528.7 GDA94_51S 84 GTE
HFRC100 Yandal RC 282183.7 7017526.7 529.2 GDA94_51S 84 GTE
HFRC101 Yandal RC 280839.2 7020343.9 529.3 GDA94_51S 60 GTE
HFRC102 Yandal RC 280886.1 7020334.1 531.0 GDA94_51S 56 GTE
HFRC103 Yandal RC 280927.4 7020268.3 531.5 GDA94_51S 52 GTE
IFDH001 Ives Find DD 278786.0 7021294.0 540.3 GDA94_51S 120.3 GTE
IFDH002 Ives Find DD 278786.0 7021285.0 540.1 GDA94_51S 82.45 GTE
IFRC001 Ives Find RC 278411.6 7021801.4 539.6 GDA94_51S 60 Vanguard
IFRC002 Ives Find RC 278404.1 7021787.5 538.3 GDA94_51S 44 Vanguard
IFRC003 Ives Find RC 278393.6 7021774.2 537.9 GDA94_51S 54 Vanguard
IFRC004 Ives Find RC 278388.8 7021748.7 537.4 GDA94_51S 48 Vanguard
IFRC005 Ives Find RC 278375.2 7021742.4 537.1 GDA94_51S 58 Vanguard
IFRC006 Ives Find RC 278769.5 7021146.7 536.1 GDA94_51S 112 GTE
IFRC007 Ives Find RC 278165.9 7021861.2 536.1 GDA94_51S 48 Vanguard
IFRC008 Ives Find RC 278382.0 7021723.8 536.9 GDA94_51S 112 GTE
IFRC011 Ives Find RC 278824.7 7021050.8 534.5 GDA94_51S 64 Vanguard
IFRC012 Ives Find RC 278773.6 7021052.7 535.0 GDA94_51S 48 Vanguard
IFRC014 Ives Find RC 278417.7 7021783.9 538.2 GDA94_51S 60 Vanguard
IFRC015 Ives Find RC 278412.9 7021773.7 537.9 GDA94_51S 48 Vanguard
IFRC016 Ives Find RC 278363.9 7021733.5 536.8 GDA94_51S 52 Vanguard
IFRC017 Ives Find RC 278389.8 7021722.5 537.3 GDA94_51S 68 Vanguard
IFRC020 Unassigned RC 278405.8 7022045.0 544.5 GDA94_51S 31 Vanguard
IFRC021 Unassigned RC 278420.3 7022002.3 544.7 GDA94_51S 50 Vanguard
IFRC022 Unassigned RC 278427.6 7021982.0 544.5 GDA94_51S 34 Vanguard

15

Hole ID Prospect Drill Type East North Elevation Coord. Syst. Depth Company
IFRC023 Unassigned RC 278415.8 7021942.5 543.4 GDA94_51S 50 Vanguard
IFRC024 Unassigned RC 278426.1 7021942.3 543.3 GDA94_51S 37 Vanguard
IFRC025 Unassigned RC 278398.3 7021920.5 543.0 GDA94_51S 64 Vanguard
IFRC026 Unassigned RC 278382.3 7021901.2 542.3 GDA94_51S 30 Vanguard
IFRC027 Unassigned RC 278375.8 7021880.4 541.1 GDA94_51S 40 Vanguard
IFRC028 Unassigned RC 278361.7 7021860.0 540.9 GDA94_51S 30 Vanguard
IFRC029 Unassigned RC 278375.3 7021840.6 540.0 GDA94_51S 36 Vanguard
IFRC030 Unassigned RC 278376.2 7021820.9 539.4 GDA94_51S 34 Vanguard
IFRC031 Unassigned RC 278375.1 7021802.3 538.9 GDA94_51S 40 Vanguard
IFRC032 Unassigned RC 278381.6 7021862.2 540.8 GDA94_51S 58 Vanguard
IFRC033 Unassigned RC 278400.9 7021861.3 540.6 GDA94_51S 58 Vanguard
IFRC034 Unassigned RC 278747.3 7021395.1 539.2 GDA94_51S 40 Vanguard
IFRC035 Unassigned RC 278734.4 7021352.4 538.9 GDA94_51S 48 Vanguard
IFRC036 Unassigned RC 278678.3 7021468.0 539.5 GDA94_51S 40 Vanguard
IFRC037 Unassigned RC 278665.7 7021483.6 539.3 GDA94_51S 34 Vanguard
IFRC038 Unassigned RC 278649.7 7021495.0 539.0 GDA94_51S 30 Vanguard
IFRC039 Unassigned RC 278628.3 7021502.0 539.3 GDA94_51S 22 Vanguard
IFRC040 Unassigned RC 278613.6 7021515.6 538.3 GDA94_51S 32 Vanguard
IFRC041 Unassigned RC 278599.9 7021530.6 537.9 GDA94_51S 40 Vanguard
IFRC042 Unassigned RC 278623.9 7021526.9 538.6 GDA94_51S 64 Vanguard
IFRC043 Unassigned RC 278722.5 7021427.6 539.4 GDA94_51S 40 Vanguard
IFRC044 Unassigned RC 278742.3 7021286.0 538.2 GDA94_51S 28 Vanguard
IFRC045 Unassigned RC 278735.6 7021265.1 537.7 GDA94_51S 40 Vanguard
IFRC046 Unassigned RC 278774.5 7021056.5 535.0 GDA94_51S 40 Vanguard
IFRC047 Unassigned RC 278780.5 7021015.4 534.5 GDA94_51S 46 Vanguard
IFRC048 Unassigned RC 278987.7 7021043.7 534.1 GDA94_51S 47 Vanguard
IFRC049 Unassigned RC 279001.8 7021057.9 534.2 GDA94_51S 58 Vanguard
IFRC050 Unassigned RC 278962.2 7021059.9 534.3 GDA94_51S 52 Vanguard
IFRC051 Unassigned RC 278446.1 7021984.4 544.6 GDA94_51S 64 Vanguard
IFRC052 Unassigned RC 278454.8 7021942.7 543.6 GDA94_51S 52 Vanguard
IFRC053 Ives Find RC 278719.5 7021014.8 535.1 GDA94_51S 40 GTE
IFRC054 Ives Find RC 278739.3 7021015.1 534.9 GDA94_51S 40 GTE
IFRC055 Ives Find RC 278759.8 7021015.6 534.7 GDA94_51S 40 GTE
IFRC056 Ives Find RC 278820.3 7021016.2 534.1 GDA94_51S 52 GTE
IFRC057 Ives Find RC 278799.7 7021056.2 534.7 GDA94_51S 76 GTE
IFRC058 Ives Find RC 278801.1 7020995.9 534.0 GDA94_51S 48 GTE
IFRC059 Ives Find RC 278820.8 7020995.4 533.9 GDA94_51S 70 GTE
IFRC060 Ives Find RC 278402.8 7021685.7 536.7 GDA94_51S 114 Vanguard
IFRC061 Ives Find RC 278417.0 7021648.0 536.6 GDA94_51S 136 Vanguard
IFRC062 Ives Find RC 278821.2 7020976.2 533.6 GDA94_51S 70 GTE
IFRC063 Ives Find RC 278749.1 7021364.0 538.9 GDA94_51S 48 GTE
IFRC064 Ives Find RC 278769.8 7021314.8 538.8 GDA94_51S 44 GTE
IFRC065 Ives Find RC 278418.1 7021784.9 538.8 GDA94_51S 42 Vanguard
IFRC066 Ives Find RC 278784.9 7021243.4 537.5 GDA94_51S 109 GTE
IFRC067 Ives Find RC 278769.5 7021146.7 536.1 GDA94_51S 70 GTE

16

Hole ID Prospect Drill Type East North Elevation Coord. Syst. Depth Company
IFRC069 Ives Find RC 278770.4 7021257.7 537.5 GDA94_51S 50 Vanguard
IFRC070 Ives Find RC 278358.6 7021691.4 536.6 GDA94_51S 92 Vanguard
IFRC071 Ives Find RC 278704.9 7021160.4 535.6 GDA94_51S 50 Vanguard
IFRC072 Ives Find RC 278800.7 7021015.7 534.2 GDA94_51S 64 Vanguard
IFRC073 Ives Find - Duck RC 278783.7 7021285.8 540.3 GDA94_51S 72 GTE
IFRC074 Ives Find RC 278620.8 7021509.0 541.2 GDA94_51S 44 GTE
IFRC075 Ives Find - Duckling RC 278801.8 7020935.8 536.6 GDA94_51S 48 GTE
IFRC076 Ives Find RC 279144.9 7020634.8 531.3 GDA94_51S 120 GTE
IFRC077 Ives Find RC 278801.9 7020819.4 535.2 GDA94_51S 200 GTE
IFRC078 Ives Find RC 278465.3 7021028.5 534.4 GDA94_51S 90 GTE
IFRC079 Ives Find RC 278804.4 7020956.9 536.8 GDA94_51S 76 GTE
IFRC080 Ives Find RC 278841.5 7020996.4 537.0 GDA94_51S 180 GTE
IFRC081 Ives Find RC 278812.8 7021214.2 539.4 GDA94_51S 200 GTE
IFRC082 Ives Find RC 278793.0 7021323.6 540.6 GDA94_51S 164 GTE
IFRC083 Ives Find RC 278450.5 7021702.2 540.9 GDA94_51S 252 GTE
IFRC084 Ives Find RC 278282.3 7021770.2 539.2 GDA94_51S 72 GTE
IFRC085 Duck RC 278797.4 7021301.5 540.3 GDA94_51S 112 GTE
IFRC086 Duck RC 278858.4 7021279.3 539.7 GDA94_51S 80 GTE
IFRC087 Bell Miner RC 278415.5 7021770.3 541.4 GDA94_51S 132 GTE
IFRC088 Bell Miner RC 278399.7 7021704.6 540.3 GDA94_51S 152 GTE
IFRC089 Bell Miner RC 278465.7 7021797.8 542.8 GDA94_51S 120 GTE

17

Table 3: Maximum Gold Assay Results >0.05 g/t Au from May Queen Drilling in Figure 6

Hole ID Prospect **Drill Type ** Depth East North Elevation Coord. Syst. **Au_ppm **
HFRC022 May
Queen		 RC 108 281259.0 7017878.6 520.4 GDA94_51S 98.7
HFRC019 May
Queen		 RC 96 282546.3 7016216.9 508.3 GDA94_51S 13.1
HFRC070 May
Queen		 RC 84 282239.0 7017407.2 528.6 GDA94_51S 12.6
HFRC040 May
Queen		 RC 88 282596.0 7016153.7 507.7 GDA94_51S 7.79
HFRC085 May
Queen		 RC 100 281592.5 7017789.8 528.7 GDA94_51S 7.54
HFRC099 Yandal RC 84 282149.2 7017507.3 528.7 GDA94_51S 7.3
HFRC025 May
Queen		 RC 120 281652.0 7017727.2 525.2 GDA94_51S 4.72
HFRC015 May
Queen		 RC 88 282062.1 7017878.0 533.5 GDA94_51S 4.24
HFRC005 May
Queen		 RC 84 281744.6 7017696.0 524.1 GDA94_51S 4.21
HFRC084 May
Queen		 RC 108 281562.0 7017771.4 528.9 GDA94_51S 3.78
HFRC064 May
Queen		 RC 96 282130.4 7017707.3 528.5 GDA94_51S 3.69
HFRC003 May
Queen		 RC 84 281268.4 7017881.5 520.6 GDA94_51S 3.35
10MWR67 Unassigned RAB 38 282496.0 7016207.0 511.3 GDA94_51S 3.19
HFRC041 May
Queen		 RC 100 282562.6 7016133.9 506.6 GDA94_51S 3.08
HFRC023 May
Queen		 RC 84 281701.9 7017669.7 522.2 GDA94_51S 2.89
HFRC087 May
Queen		 RC 84 281266.9 7017973.6 521.3 GDA94_51S 2.77
HFRC092 May
Queen		 RC 92 281626.9 7017809.4 529.3 GDA94_51S 2.55
HFRC004 May
Queen		 RC 144 281337.4 7017921.0 521.9 GDA94_51S 1.44
HFRC069 May
Queen		 RC 84 282203.3 7017385.9 528.7 GDA94_51S 1.31
HFRC044 May
Queen		 RC 36 282528.2 7016113.8 505.5 GDA94_51S 1.26
HFRC007 May
Queen		 RC 132 281674.5 7017656.1 520.6 GDA94_51S 1.25
HFRC063 May
Queen		 RC 96 282095.4 7017687.6 530.0 GDA94_51S 1.22
HFRC096 May
Queen		 RC 92 282220.3 7017442.5 529.0 GDA94_51S 1.13
HFRC002 May
Queen		 RC 96 281302.4 7017900.9 521.2 GDA94_51S 1.1
HFRC048 May
Queen		 RC 88 282540.7 7016262.9 509.1 GDA94_51S 1.01
HFRC065 May
Queen		 RC 84 282165.8 7017725.3 527.0 GDA94_51S 0.976
HFRC049 May
Queen		 RC 84 282506.2 7016242.6 508.1 GDA94_51S 0.959
HFRC083 May
Queen		 RC 84 282462.2 7016962.1 518.1 GDA94_51S 0.94
HFRC054 May
Queen		 RC 88 282699.8 7016216.7 510.7 GDA94_51S 0.887
HFRC095 May
Queen		 RC 84 282185.1 7017423.2 528.5 GDA94_51S 0.858
10MWR41 Unassigned RAB 11 283051.0 7015589.0 506.8 GDA94_51S 0.826
HFRC028 May
Queen		 RC 96 281827.4 7017609.4 521.2 GDA94_51S 0.814
HFRC026 May
Queen		 RC 84 281617.4 7017706.5 524.9 GDA94_51S 0.806

18

HFRC046 May
Queen		 RC 152 281706.6 7017718.2 524.1 GDA94_51S 0.8
10MWR33 Unassigned RAB 9 282898.0 7015601.0 506.9 GDA94_51S 0.8
HFRC017 May
Queen		 RC 84 282027.4 7017858.2 533.2 GDA94_51S 0.787
HFRC047 May
Queen		 RC 88 281654.8 7017687.7 522.7 GDA94_51S 0.744
HFRC068 May
Queen		 RC 84 282170.3 7017366.8 529.0 GDA94_51S 0.671
HFRC086 May
Queen		 RC 96 281516.7 7017742.6 526.8 GDA94_51S 0.65
HFRC027 May
Queen		 RC 88 281758.3 7017567.9 519.5 GDA94_51S 0.646
HFRC071 May
Queen		 RC 84 282272.9 7017427.2 528.9 GDA94_51S 0.583
HFRC055 May
Queen		 RC 84 283072.3 7015614.3 506.8 GDA94_51S 0.572
HFRC043 May
Queen		 RC 120 282665.7 7016194.5 509.4 GDA94_51S 0.557
HFRC051 May
Queen		 RC 84 282575.3 7016282.9 510.9 GDA94_51S 0.533
Hole ID Prospect Drill Type Depth East North Elevation Coord. Syst. Au_ppm
HFRC006 May
Queen		 RC 104 281709.4 7017676.2 522.7 GDA94_51S 0.522
HFRC077 May
Queen		 RC 84 282959.6 7015974.2 507.0 GDA94_51S 0.498
HFRC072 May
Queen		 RC 84 282307.9 7017447.6 527.6 GDA94_51S 0.498
23YWRC020 Jewel RC 60 281503.0 7018307.0 524.7 GDA94_51S 0.443
HFRC024 May
Queen		 RC 88 281686.5 7017746.8 525.4 GDA94_51S 0.421
HFRC020 May
Queen		 RC 100 282580.6 7016237.6 510.1 GDA94_51S 0.4
HFRC058 May
Queen		 RC 96 281895.2 7017649.8 524.8 GDA94_51S 0.395
HFRC016 May
Queen		 RC 96 282096.5 7017898.2 534.4 GDA94_51S 0.33
HFRC080 May
Queen		 RC 84 282358.3 7016900.7 514.7 GDA94_51S 0.33
HFRC076 May
Queen		 RC 84 282925.8 7015953.1 507.2 GDA94_51S 0.32
HFRC082 May
Queen		 RC 84 282427.6 7016941.5 517.7 GDA94_51S 0.294
HFRC042 May
Queen		 RC 88 282631.5 7016175.1 508.8 GDA94_51S 0.294
HFRC052 May
Queen		 RC 84 282530.7 7016116.2 506.1 GDA94_51S 0.291
HFRC030 May
Queen		 RC 84 281792.6 7017588.4 520.1 GDA94_51S 0.265
HFRC018 May
Queen		 RC 69 282511.9 7016197.4 507.9 GDA94_51S 0.228
HFRC008 May
Queen		 RC 84 281639.9 7017636.4 520.1 GDA94_51S 0.22
HFRC081 May
Queen		 RC 92 282394.1 7016918.8 516.0 GDA94_51S 0.219
10MWR10 Unassigned RAB 27 282547.0 7016200.0 511.6 GDA94_51S 0.209
HFRC090 May
Queen		 RC 88 281242.1 7018087.8 522.8 GDA94_51S 0.209
HFRC074 May
Queen		 RC 84 282343.9 7017468.6 525.8 GDA94_51S 0.205
HFRC014 May
Queen		 RC 84 281779.7 7017715.4 525.6 GDA94_51S 0.193
HFRC056 May
Queen		 RC 88 283042.0 7015592.9 505.9 GDA94_51S 0.184
HFRC088 May
Queen		 RC 108 281231.8 7017952.6 520.7 GDA94_51S 0.177

19

HFRC097 May
Queen		 RC 84 282254.2 7017462.9 530.0 GDA94_51S 0.161
10MWR66 Unassigned RAB 2 282315.0 7015980.0 506.8 GDA94_51S 0.16
10MWR7 Unassigned RAB 5 282842.0 7016195.0 510.8 GDA94_51S 0.157
HFRC031 May
Queen		 RC 84 281839.3 7017139.4 514.2 GDA94_51S 0.139
HFRC045 May
Queen		 RC 84 281741.6 7017734.9 525.5 GDA94_51S 0.11
HFRC100 Yandal RC 84 282183.7 7017526.7 529.2 GDA94_51S 0.096
HFRC078 May
Queen		 RC 84 282993.8 7015994.2 506.1 GDA94_51S 0.085
10MWR14 Unassigned RAB 38 282543.0 7016001.0 508.5 GDA94_51S 0.077
HFRC098 Yandal RC 84 282266.2 7017367.9 525.6 GDA94_51S 0.074
HFRC066 May
Queen		 RC 120 282201.7 7017743.7 525.4 GDA94_51S 0.072
HFRC075 May
Queen		 RC 88 282891.8 7015932.9 506.6 GDA94_51S 0.072
10MWR27 Unassigned RAB 2 283097.0 7015796.0 507.1 GDA94_51S 0.057
10MWR68 Unassigned RAB 6 282701.0 7016199.0 511.9 GDA94_51S 0.051

20

28 November 2024

Appendix A

JORC Code, 2012 Edition (Table 1) – Yandal West

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria
JORC Code explanation
Commentary		 Criteria
JORC Code explanation
Commentary		 Criteria
JORC Code explanation
Commentary
Sampling techniques
•
Nature and quality of sampling (eg cut channels,
random chips, or specific specialised industry standard
measurement tools appropriate to the minerals under
investigation, such as down hole gamma sondes, or
handheld XRF instruments, etc). These examples should
not be taken as limiting the broad meaning of
sampling.
•
Include reference to measures taken to ensure sample
representivity and the appropriate calibration of any
measurement tools or systems used.
• Aspects of the determination of mineralisation that are
Material to the Public Report. In cases where ‘industry
standard’ work has been done this would be relatively
simple (eg ‘reverse circulation drilling was used to
obtain 1 m samples from which 3 kg was pulverised to
produce a 30 g charge for fire assay’). In other cases
more explanation may be required, such as where there
is coarse gold that has inherent sampling problems.
Unusual commodities or mineralisation types (eg
submarine nodules) may warrant disclosure of detailed
information.
Barwidgee Fault RC Drilling
•
Drill samples were obtained from reverse
circulation (RC) holes.
•
RC samples were collected from the cyclone at
1m intervals in buckets and laid upon the
ground in lines of 20-25. A corresponding 2-3kg
sub-sample was collected each metre from the
cone splitter for laboratory analysis.
•
Collar locations were recorded with a handheld
GPS (+/- 5m accuracy) by the site geologist.
Downhole surveys were conducted using a
north-seeking
Axis
gyroscope,
which
is
unaffected
by
country
rock
magnetics.
Downhole surveys were taken every 10-15m.
Harris Find RC and Diamond Drilling
•
Drill samples were obtained from reverse
circulation (RC) and diamond drill (DD) holes.
•
RC samples were collected from the cyclone at
1m intervals in buckets and laid upon the
ground in lines of 20-25. A corresponding2-3kg

  • Criteria JORC Code explanation Commentary sub-sample was collected each metre from the cone splitter for laboratory analysis.

  • • DD was conducted utilising HQ / NQ2 sized core. Core was collected in core trays where it was marked up and logged. Core was cut length ways and half-core sampled.

  • • Collar locations were recorded with a handheld GPS (+/- 5m accuracy) by the site geologist. Downhole surveys were conducted using a north-seeking Axis gyroscope, which is unaffected by country rock magnetics. Downhole surveys were taken every 10-30m.

  • Ives Find RC Drilling • RC drilling was used to obtain pulverised rock sample at 1m intervals of which an approximate 2.5kg sample was taken for 40g fire assay.

  • • Rock chips are collected from outcrop using hammer and the location recorded using GPS. Approximately 1kg of sample was placed in a calico bag and submitted for assay.

  • May Queen RC Drilling • RC drilling was used to obtain 1 m intervals of drill spoil that is placed on the ground.

  • • Two samples of approximately 2.5 kg of drill spoil were collected from a cone splitter attached to the cyclone in 1 metre intervals as the hole is drilled. The samples are put in calico bags and placed with the remaining drill spoil for the relevant meter it was collected.

  • Drilling techniques • Drill type (eg core, reverse circulation, open-hole Barwidgee Fault RC Drilling hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth • Strike Drilling completed the RC drill

Criteria JORC Code explanation JORC Code explanation Commentary Commentary
of diamond tails, face-sampling bit or other type, programme utilising a Schramm T450 Reverse
whether core is oriented and if so, by what method, Circulation (RC) Drill Rig.
etc). • RC drill holes were completed using an 143mm
(5 5/8”) face sampling bit.
Harris Find RC and Diamond Drilling
• DDH1 Ltd completed both the DD and RC drill
programme
utilising
a
Sandvik
DE840
Multipurpose Drill Rig.
• RC drilled holes were completed at a standard
RC drilling diameter of 5.5” using a face
sampling bit.
• The DD hole was drilled using a HQ and NQ2
diameter drill bit. DD core was orientated
utilising a Reflex Act 3 Orientation Tool.
Ives Find RC Drilling
• Reverse Circulation (RC) drilling was used to
collect 1m pulverized rock samples using a face
sampling hammer.
May Queen RC Drilling
• Reverse Circulation (RC) drilling was used to
collect 1m pulverized rock samples using a face
sampling hammer.
Drill sample recovery • Method of recording and assessing core and chip Barwidgee Fault RC Drilling
• sample recoveries and results assessed.
Measures taken to maximise sample recovery and		 • RC
sample
recovery,
moisture
and
ensure representative nature of the samples. contamination was visually assessed on a per
• Whether a relationship exists between sample recovery metre basis and recorded by the appointed site
and grade and whether sample bias may have occurred geologist. RC recovery was assessed as high.
due to preferential loss/gain of fine/coarse material. • No relationship between sample recovery,
grade, and sample bias was identified.

  • Criteria JORC Code explanation Commentary Harris Find RC and Diamond Drilling • RC sample recovery, moisture and contamination was visually assessed on a per metre basis and recorded by the appointed site geologist. RC recovery was assessed as high.

  • • DD core was physically measured and recorded on a metre basis, generally averaging 99%.

  • • No relationship between sample recovery, grade, and sample bias was identified.

Ives Find RC

  • Visual estimates of recovery were made and only recorded where there were significant differences in volumes of chip sample.

  • • Overall sample recovery was considered reasonable to good, and in line with normal expectations for this type of drilling.

  • May Queen RC Drilling

  • Visual estimates of recovery were made and only recorded where there were significant differences in volumes of chip sample.

  • • Overall sample recovery is considered reasonable to good, and in line with normal expectations for this type of drilling.

  • Logging • Whether core and chip samples have been geologically Barwidgee Fault RC Drilling and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining • Each RC sample was sieved (wet and dry), studies and metallurgical studies. logged on a 1 metre scale with regolith,

  • • Whether logging is qualitative or quantitative in nature. lithology, veining, alteration, and mineralisation Core (or costean, channel, etc) photography. recorded.

  • • The total length and percentage of the relevant • Drillhole logging data was recorded within a intersections logged. database. • Logging was qualitative. Chip-trays have been

  • Criteria JORC Code explanation Commentary stored and photos taken for future reference.

  • • All drillholes (100%) were geologically logged on site by a qualified geologist.

Harris Find RC and Diamond Drilling

  • Each RC sample was sieved (wet and dry), logged on a 1 metre scale with regolith, lithology, veining, alteration, and mineralisation recorded.

  • Drill core was logged on a 10cm scale with regolith, lithology, structure, veining, alteration, and mineralisation recorded.

  • Drillhole logging data was recorded within a database.

  • Logging was qualitative. Chip-trays and core trays containing half-core have been stored and photos taken for future reference.

  • All drillholes (100%) were geologically logged on site by a qualified geologist.

Ives Find RC

  • RC drill chips were geologically logged to a level that is considered relevant to the style of mineralization under investigation

  • Paper drill logs were used to record: lithology, mineralogy, mineralization, weathering, colour and other appropriate features.

  • All logging was quantitative.

  • Selected chip samples from each hole were sieved, washed and placed into plastic chip trays for future reference.

May Queen RC Drilling

  • RC drill chips have been geologically logged to a
Criteria JORC Code explanation Commentary
level that is considered relevant to the style of
mineralization under investigation
• Paper drill logs were used to record: lithology,
mineralogy, mineralization, weathering, colour
and other appropriate features.
• All logging was quantitative.
• Selected chip samples from each hole were
sieved, washed and placed into plastic chip trays
for future reference.
Sub-sampling techniques and sample preparation • If core, whether cut or sawn and whether quarter, half Barwidgee Fault RC Drilling
or all core taken.
• If non-core, whether riffled, tube sampled, rotary split, • Representative RC sub-samples were produced
etc and whether sampled wet or dry. using a rig mounted cyclone and cone splitter.
• For all sample types, the nature, quality and Samples were mostly dry.
appropriateness of the sample preparation technique. • RC sampling was deemed an appropriate
• Quality control procedures adopted for all sub-sampling method for gold and base metal exploration.
stages to maximise representativity of samples. • Before each drillhole the cyclone and cone
•
•		 Measures taken to ensure that the sampling is
representative of the in situ material collected,
including for instance results for field duplicate/second-
half sampling.
Whether sample sizes are appropriate to the grain size		 • splitter was inspected for damage, cleanliness,
and correct set-up. The cyclone was cleaned
with compressed air between (6m) drill runs.
RC duplicate samples were collected every 20
of the material being sampled. metres from a second chute on the cone splitter
and
were
assayed
to
assess
sample
representativity.
• Target sub-sample weight for RC samples was
2.5kg. This sample size was considered
appropriate for the Archaean gold and base
metal mineralisation.
Harris Find RC and Diamond Drilling
• DD core was cut in half lengthways using an
Almonte core-saw. Half core was taken for assay
analysis and half core retained. Core was cut off-
site byDynamics G-Ex PtyLtd.
26

  • Criteria JORC Code explanation Commentary • Representative RC sub-samples were produced using a rig mounted cyclone and cone splitter. Samples were mostly dry.

  • • Both DD and RC sampling is an appropriate method for gold and base metal exploration.

  • • Before each drillhole the cyclone and cone splitter has been inspected for damage, cleanliness, and correct set-up. The cyclone was cleaned with compressed air between (6m) drill runs.

  • • RC duplicate samples were collected every 20 metres from a second chute on the cone splitter and will be assayed to determine sample representativity. No DD core duplicates were taken in the field.

  • • Target sub-sample weight for RC samples was 2.5kg. DD core sampling intervals are >0.4m and <1.5m to ensure sample weights of 1.4-4kg. This sample size was considered appropriate for the Archaean gold and base metal mineralisation.

Ives Find RC

  • The sample material is collected by passing the drill spoil through a riffle splitter integrated into the drill rig cyclone at 1m intervals to collect an approximate 2.5kg sample in a calico bag.

May Queen RC Drilling

  • The holes were sampled by collecting approximately 500 g from each 1 m interval of drill spoil using a PVC “spear” then combined into 4m intervals to produce an interval sample of approximately 2 to 3 kg to be submitted to the laboratory for assay which is appropriate for
Criteria JORC Code explanation Commentary
gold analysis.
• The Wet samples were left to dry before taking
interval samples.
• The Company utilizes interval sampling for first
pass assessment of drill holes to control costs.
This type of sampling should be considered
indicative only and not suitable for resource
calculations when used for gold.
• The Company submits the 1m riffle split
samples where 4 interval samples are 100 ppb
gold or higher. The 1m samples are considered
by the Company as definitive.
Quality of assay data and laboratory tests • The nature, quality and appropriateness of the assaying
Barwidgee Fault RC Drilling
and laboratory procedures used and whether the
technique is considered partial or total.		 • Samples were assessed by ALS Perth (WA) using
• For geophysical tools, spectrometers, handheld XRF the following analysis techniques:
instruments, etc, the parameters used in determining • Au-ICP21 (gold analysis): A 30g nominal sample
the analysis including instrument make and model, weight is taken and analysed via fire assay
reading times, calibrations factors applied and their fusion with ICP-AES (inductively couple plasma
derivation, etc. – atomic emission spectrometry) analytical
• Nature of quality control procedures adopted (eg
standards, blanks, duplicates, external laboratory
checks) and whether acceptable levels of accuracy (i.e.
lack of bias) and precision have been established.		 • method. This is an industry standard technique
for assessing Au mineralisation.
ME-ICP61 (multi-element analysis): 0.25g sub-
sample prepared via Four-Acid digestion with
ICP-AES (inductively coupled plasma – atomic
emission spectrometry) analysis. Four-Acid
Digestion is an industry standard technique and
considered to be a near-total digestion.
• Al, Ca, Fe, K, Mg, Na, S & Ti were reported in
percent (%) all other analytes reported in parts
per million (ppm). The elements assayed were:
Au, Ag, Al, As, B, Ba, Be, Bi, Ca, Cd, Co, Cr, Cu, Fe,
Ga, K, La, Li, Mg, Mn, Mo, Na, Ni, P, Pb, Pd, Pt, S,
Sb,Sc,Sr,Th,Ti,Tl,U,V,W & Zn.
28
  • Criteria JORC Code explanation Commentary • No geophysical tools were used. • Field introduced standards have been inserted at an average rate of 1:20. These are either CRMs or blanks. Acceptable levels of accuracy and precision have been demonstrated and no bias noted. Internal laboratory QAQC protocols were also been relied upon to assess the quality of the data and deemed acceptable.

Harris Find RC and Diamond Drilling

  • Samples were assessed by ALS Perth (WA) using the following analysis techniques:

  • • ME-ICP61 multielement analysis: 0.25g subsample prepared via Four-Acid digestion with ICP-AES (inductively coupled plasma – atomic emission spectrometry) analysis. Four-Acid Digestion is an industry standard technique and considered to be a near-total digestion.

  • Au-AA25/26 for Au: 30g/50g sample taken and analysed via fire assay with AAS (atomic absorption spectrometry) finish. This is an industry standard technique when assessing ore-grade Au mineralisation.

  • Al, Ca, Fe, K, Mg, Na, S & Ti were reported in percent (%) all other analytes reported in parts per million (ppm). The elements assayed were: Au, Ag, Al, As, B, Ba, Be, Bi, Ca, Cd, Co, Cr, Cu, Fe, Ga, K, La, Li, Mg, Mn, Mo, Na, Ni, P, Pb, Pd, Pt, S, Sb, Sc, Sr, Th, Ti, Tl, U, V, W & Zn.

  • No geophysical tools were used.

  • Field introduced standards have been inserted at an average rate of 1:20. These are either CRMs or blanks. Acceptable levels of accuracy and precision have been demonstrated and no

Criteria JORC Code explanation Commentary Commentary
bias noted. Internal laboratory QAQC protocols
have also been relied upon to assess the quality
of the data. This has also been reviewed by GTE
and deemed acceptable.
Ives Find RC Assays
• Bureau Veritas Minerals (“BVM”), Canning Vale
WA was contracted to carry out the sample prep
and analysis, an accredited laboratory
• Samples analysed using 40g fire assay for total
separation of Gold, Platinum and Palladium.
• Submission of 1 duplicate and 1 standard or
blank was inserted into the sample submission
stream for every 20 samples for QAQC
purposes.
• No umpire or third-party assay checks were
completed.
May Queen RC Drilling
• Bureau Veritas Minerals (“BVM”), Canning Vale
WA was contracted to carry out the sample prep
and analysis., an accredited laboratory
• 4m interval samples were assayed using 40 g
Aqua Regia with ICP-MS for Au (1 ppb), Sn (0.2
ppm), W (0.1 ppm) with additional elements
using ICP-OES (Ag, As, Co, Cu, Li, Mo, Ni, Pb ,
Zn,).
• As the Aqua Regia is not a total digest, many
elements will be only partially extracted.
• The 1m interval samples have been analysed by
Firing a 40 gm (approx.) portion of the sample.
Lower sample weights may be employed for
samples with very high sulphide and metal
contents. This is the classical fire assay process
Criteria JORC Code explanation Commentary
and will give total separation of Gold, Platinum
and Palladium in the sample
• Submission of 1 duplicate and 1 blank was
inserted into the sample submission stream for
every 20 samples which the company considers
adequate QAQC for non-resource samples.
• Standard samples were not submitted, and
relied on the laboratory supplied standards for
QAQC purposes.
• No umpire or third-party assay checks were
completed.
Verification of sampling and assaying • The verification of significant intersections by either Barwidgee Fault RC Drilling
• independent or alternative company personnel.
The use of twinned holes.		 • Significant intersections are tabulated in the
• Documentation of primary data, data entry procedures, body of the announcement, and Table 1. These
data verification, data storage (physical and electronic) composite intersections were recalculated by
protocols. an independent consultant and competent
• Discuss any adjustment to assay data. person for Albion Resources which verify
composites reported previously by Great
Western Exploration
• No twinned holes were completed.
• Field data was recoded electronically and
backed up in off-site secure servers. Field data
is then loaded to an SQL database, operated,
and maintained by Geobase Australia. All
database processes are logged and time
stamped.
• No adjustments were made to assay data.
Harris Find RC and Diamond Drilling
• Significant intersections are tabulated in the
body of the announcement, and Table 1. These
composite intersections were recalculated by
an independent consultant and competent
31

  • Criteria JORC Code explanation Commentary person for Albion Resources which verify composites reported previously by Great Western Exploration.

  • • No twinned holes were completed. • Field data was recoded electronically and backed up in off-site secure servers. Field data is then loaded to an SQL database, operated and maintained by Geobase Australia. All database processes are logged and time stamped.

  • No adjustments were made to assay data.

Ives Find RC

  • Significant assays are checked in the field by the the appointed competent person for Great Western Explloration.

  • Primary data is collected in the field on paper logs then entered into the database later. The data is verified by the geologist by cross checking the electronic data against the paper copies.

  • Assay data is received by email in electronic text file format with the lab retaining an original back up if required.

  • • No adjustments were made to the assay data reported.

  • Significant intersections are tabulated in the body of the announcement, and Table 1. These composite intersections were recalculated by an independent consultant and competent person for Albion Resources which verify composites reported previously by Great Western Exploration.

  • • Validation of both the field and laboratory data

  • Criteria JORC Code explanation Commentary is undertaken prior to reporting of the data.

  • May Queen RC Drilling • Significant intersections of 4m composites were re-sampled in 1m intervals and compared to the geology in the field by the appointed project geologist for Great Western Exploration

  • • Significant assays are checked in the field by the appointed competent person for Great Western Exploration.

  • • Two holes were scissor hole HFRC022 and HFRC023.

  • • Primary data is collected in the field on paper logs then entered into the database at a later date. The data is verified by the geologist by cross checking the electronic data against the paper copies.

  • • Assay data is received by email in electronic text file format with the lab retaining an original back up if required.

  • • No adjustments were made to the assay data reported.

  • • Validation of both the field and laboratory data is undertaken prior to reporting of the data.

  • • Significant intersections are tabulated in the body of the announcement, and Table 1. These composite intersections were recalculated by an independent consultant and competent person for Albion Resources which verify composites reported previously by Great Western Exploration.

  • •

  • Location of data points • Accuracy and quality of surveys used to locate drill Barwidgee Fault RC Drilling holes (collar and down-hole surveys), trenches, mine

Criteria JORC Code explanation JORC Code explanation Commentary Commentary
workings and other locations used in Mineral Resource • Drill hole collars were located using a handheld
estimation. GPS with +/- 5m accuracy in plan. This accuracy
• Specification of the grid system used. is acceptable for exploration drilling. Downhole
• Quality and adequacy of topographic control. surveys have been conducted using an Axis
gyroscope.
• Grid: MGA, Datum: GDA94, Zone: 51
• Drill hole collar elevations have been assigned
using the Company’s digital elevation model
derived from helicopter-borne radar altimeter
(RA) (accuracy +/- 0.5m).
Harris Find RC and Diamond Drilling
• Drill hole collars were located using a handheld
GPS with +/- 5m accuracy in plan. This accuracy
is acceptable for exploration drilling. Downhole
surveys have been conducted using an Axis
gyroscope.
Ives Find RC
• Drill hole collars were determined using a
hand-held GPS (+/- 6 m accuracy in all
directions).
• Elevation is measured from topographic maps
• The grid system used is MGA 94 (Zone 51).
• Various topographic data was noted for
mapping purposes.
May Queen RC Drilling
• Drill hole collars were determined using a
handheld GPS (+/- 6 m accuracy in all
directions).
• Elevation is measured from topographic maps
• The grid system used is MGA 94 (Zone 51).
• Various topographic data was noted for
Criteria JORC Code explanation JORC Code explanation Commentary Commentary
mapping purposes.
Data spacing and distribution • Data spacing for reporting of Exploration Results. Barwidgee Fault RC Drilling
• Whether the data spacing and distribution is sufficient
to establish the degree of geological and grade		 • For the Barwidgee Fault drilling on section
continuity appropriate for the Mineral Resource and spacing is 50m, and between-section spacing is
Ore Reserve estimation procedure(s) and classifications 40m-6000m. Exploration drill hole collar
applied. locations are shown in Figure 4.
• Whether sample compositing has been applied. • Drill spacing was for exploration purposes and
not at a sufficient density for Resource
Estimation or Ore Reserves Estimation.
• No sample compositing was applied.
Harris Find RC and Diamond Drilling
• On section spacing was 15m, and between-
section spacing is 15m-20m. Exploration drill
hole collar locations are shown in Figure 4.
• Drill spacing is for exploration purposes and
not at a sufficient density for Resource
Estimation or Ore Reserves Estimation.
• No sample compositing has been applied.
Ives Find RC
• See Figure 5 in the main body of the
announcement.
• The data spacing, and distribution is not
enough to determine any grade or geological
continuity and therefore resource estimates
cannot be calculated at this stage.
May Queen RC Drilling
• The RC drilling has been designed to test
exploration targets and have not yet reached
the stage of set pattern drilling required for
resource calculations.
Criteria JORC Code explanation JORC Code explanation Commentary Commentary
• The company carried out single lines of holes
with holes spaced nominally 40m apart drilled
to 80m depth so that the geological sequence
is full covered (angle overlap).
• Sample compositing has been applied initially.
4m composite samples > 0.1 g/t Au were re-
sampled at 1 m intervals. See sampling
techniques for details.
• The 4m interval samples are not suitable for
determining gold resources.
• The sampling method was considered to be
unbiased.
• The relationship to geological structures and
orientation is unknown apart from local
geological information that was recorded at
the sample point.
• The company is not planning to calculate
resources until more drilling is completed and
significant intersections sampled at 1m
intervals or less.
• Great Western Exploration has not undertaken
appropriate measures that would enable a
Mineral Resource and Ore Reserve estimation
procedure(s) and classification to be applied.
• See Figure 6 in the main body of the
announcement.
Orientation of data in relation to geological • Whether the orientation of sampling achieves unbiased Barwidgee Fault RC Drilling
structure sampling of possible structures and the extent to which
this is known, considering the deposit type.		 • Drilling was designed perpendicular to the
• If the relationship between the drilling orientation and modelled mineralised structures to achieve
the orientation of key mineralised structures is unbiased sampling.
considered to have introduced a sampling bias, this • No orientation sampling bias was introduced.
should be assessed and reported if material.
Harris Find RC and Diamond Drilling
Criteria JORC Code explanation JORC Code explanation Commentary Commentary
• The company carried out single lines of holes
with holes spaced nominally 40m apart drilled
to 80m depth so that the geological sequence
is full covered (angle overlap).
• Sample compositing has been applied initially.
4m composite samples > 0.1 g/t Au were re-
sampled at 1 m intervals. See sampling
techniques for details.
• The 4m interval samples are not suitable for
determining gold resources.
• The sampling method was considered to be
unbiased.
• The relationship to geological structures and
orientation is unknown apart from local
geological information that was recorded at
the sample point.
• The company is not planning to calculate
resources until more drilling is completed and
significant intersections sampled at 1m
intervals or less.
• Great Western Exploration has not undertaken
appropriate measures that would enable a
Mineral Resource and Ore Reserve estimation
procedure(s) and classification to be applied.
• See Figure 6 in the main body of the
announcement.
Orientation of data in relation to geological • Whether the orientation of sampling achieves unbiased Barwidgee Fault RC Drilling
structure sampling of possible structures and the extent to which
this is known, considering the deposit type.		 • Drilling was designed perpendicular to the
• If the relationship between the drilling orientation and modelled mineralised structures to achieve
the orientation of key mineralised structures is unbiased sampling.
considered to have introduced a sampling bias, this • No orientation sampling bias was introduced.
should be assessed and reported if material.
Harris Find RC and Diamond Drilling
Criteria JORC Code explanation Commentary
• Drilling was designed perpendicular to the
modelled mineralised structures to achieve
unbiased sampling.
• Not applicable – mineralised structures yet to
be modelled as assay results not received.
Ives Find RC
• The drilling is early stage and not adequately
spaced therefore the identification of the key
geological features have not yet been
determined with any confidence.
May Queen RC Drilling
• The Competent Person appointed by Great
Western Exploration who completed the
drilling, using their experience and
interpretation, considers the orientation of key
structures and any relationship to
mineralisation at May Queen as preliminary
and inferred.
• No sampling bias resulting from a structural
orientation is known to occur at this stage.
• The majority of the drilling is early stage and
not adequately spaced therefore the
identification of the key geological features
have not yet been determined with any
confidence.
Sample security • The measures taken to ensure sample security. Barwidgee Fault RC Drilling
• RC samples were securely packed on site and
either delivered to the laboratory (ALS Perth,
WA) by a commercial freight carrier, or by field
staff.
Harris Find RC and Diamond Drilling
37

  • Criteria JORC Code explanation Commentary • RC samples were securely packed on site and either delivered to the laboratory (ALS Perth, WA) by a commercial freight carrier, or field crews supervision the programme.

  • • DD core was transported to Dynamics G-Ex Pty Ltd (Kalgoorlie) for cutting before being transported by a commercial freight carried to ALS Perth.

  • Ives Find RC • The chain of custody was managed by Great Western Exploration

  • • The samples were collected into polywoven bags that were secured with cable ties then taken to Wiluna to be dispatched directly to the lab in Perth by courier. The samples are left unattended in the locked yard at the Courier depot prior to dispatch.

  • May Queen RC Drilling • The chain of custody was managed by Great Western Exploration.

  • • The samples were collected into polywoven bags that were secured with cable ties then taken to Wiluna to be dispatched directly to the lab in Perth by courier. The samples are left unattended in the locked yard at the Courier depot prior to dispatch.

  • Audits or reviews • The results of any audits or reviews of sampling Barwidgee Fault RC Drilling techniques and data.

  • The chain of custody was managed by Great Western Exploration

  • • The samples were collected into polywoven bags that were secured with cable ties then taken to Wiluna to be dispatched directly to the lab in Perth by courier. The samples are left unattended in the locked yard at the Courier depot prior to dispatch.

  • The samples were collected into polywoven bags that were secured with cable ties then taken to Wiluna to be dispatched directly to the lab in Perth by courier. The samples are left unattended in the locked yard at the Courier depot prior to dispatch.

  • No specific external audits or reviews were undertaken on the drill data.

  • The drill data has been reviewed internally by the Senior Exploration Geologist.

Criteria JORC Code explanation Commentary Commentary
Harris Find RC and Diamond Drilling
• No specific external audits or reviews have
been undertaken on the drill data.
• The drill data has been reviewed internally by
the Senior Exploration Geologist for Great
Western Exploration.
Ives Find RC
• No audits or reviews have been undertaken at
this early stage.
May Queen RC Drilling
• No audits or reviews were undertaken due to
the early stage of exploration.

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria
JORC Code explanation
Commentary		 Criteria
JORC Code explanation
Commentary		 Criteria
JORC Code explanation
Commentary		 Criteria
JORC Code explanation
Commentary		 Criteria
JORC Code explanation
Commentary		 Criteria
JORC Code explanation
Commentary
Mineral tenement and land tenure status
•
Type, reference name/number, location and ownership
including agreements or material issues with third
parties such as joint ventures, partnerships, overriding
royalties, native title interests, historical sites,
wilderness or national park and environmental settings.
•
The security of the tenure held at the time of reporting
along with any known impediments to obtaining a
licence to operate in the area.
•
The Yandal West Project is located 70km
south-east of Wiluna, WA. The tenements
within the project are listed below.
Extension of Term submitted (19/09/2024)
•
GTE has 80% ownership tenements E 53/1612
and E 53/1816 (20%Diversified Asset Holdings
Pty Ltd). The listed holder of E 53/1369,
Vanguard Exploration Ltd, is a 100% owned
subsidiary of GTE and the transfer of title is
currently in progress to Great Western
Exploration as part of an internal restructure.
•
The tenement is within the Determined Kultju
(Aboriginal Corporation) Native Title Claim with
whom GTE have an executed Regional Land
Access Agreement.
•
Land access agreement with Barwidgee
Pastoral Lease.
•
No other encumbrances are known.
The tenements are in good standing.
Tenement
Holder
Expires
GTE
Ownership Area (Ha)
E 53/1369
Vanguard
Exploration Ltd
24/9/2024
100%
2446
E 53/1612
Great Western
Exploration Ltd
17/10/2025
80%
2446
E53/1816
Great Western
Exploration Ltd
3/02/2025
80%
1222		 •
The Yandal West Project is located 70km
south-east of Wiluna, WA. The tenements
within the project are listed below.
Tenement Holder Expires GTE
**Ownership **		 Area (Ha)
E 53/1369 Vanguard
Exploration Ltd		 24/9/2024* 100% 2446
E 53/1612 Great Western
Exploration Ltd		 17/10/2025 80% 2446
E53/1816 Great Western
Exploration Ltd		 3/02/2025 80% 1222
Criteria JORC Code explanation Commentary
Exploration done by other parties • Acknowledgment and appraisal of exploration by other • All exploration work at the Yandal West Project
parties. area reported in this announcement was
completed by the current tenement holders
Great Western Exploration and subsidiary
Vanguard Resources as well as previous
explorers Great Central Mines. For clarity, no
work has been completed on the project to
data by Albion Resources
Geology • Deposit type, geological setting and style of Barwidee Fault, Harris Find, and May Queen
mineralisation. • The Project is located along the western
margin of the Archaean Yandal Greenstone
Belt. The regional-scale Moiler’s Fault crosscuts
the province in a south-easterly direction; with
a dominantly mafic sequence to west of the
fault, and a felsic volcanic-sedimentary
sequence interlayered with mafic volcanic
rocks, to the east of the fault.
Ives Find
• Mineralisation is located within sheared lodes
within a granitic host, along a contact with
Archean Greenstone.
Drill hole Information • A summary of all information material to the Barwidgee Fault RC Drilling
understanding of the exploration results including a
tabulation of the following information for all Material		 • All drillhole details are tabulated within Table
drill holes: 2.
o easting and northing of the drill hole collar • All material information has been disclosed.
o elevation or RL (Reduced Level – elevation above
sea level in metres) of the drill hole collar		 Harris Find RC and Diamond Drilling
o dip and azimuth of the hole • All drillhole details are tabulated within Table
o down hole length and interception depth 2.
o hole length. • All material information has been disclosed.
• If the exclusion of this information is justified on the
basis that the information is not Material and this		 Ives Find
exclusion does not detractfrom the understanding of
41
Criteria JORC Code explanation Commentary Commentary
the report, the Competent Person should clearly explain
•		 Table 2 is the summary of the drill hole collar
why this is the case. data
• Easting and northing coordinates were
obtained using a hand-held GPS (+/- 6 m
accuracy in all directions).
• Elevation is obtained from topographic maps
and Google Earth
• Down hole surveys were completed at intervals
roughly every 50m and EOH using a Reflex Ez-
Trak multi shot down-hole camera.
• The drill collar azimuth is established using a
compass and the dip using a clinometer.
• Drill holes were orientated to intersect the
main geological trend. However, some
geological structures are not fully understood
to date. Factors including dip, direction etc. still
requires further evaluation, therefore all
reported intercepts are based on down hole
lengths.
May Queen RC Drilling
• Table 2 is the summary of the drill hole collar
data
• Easting and northing coordinates were
obtained using a hand held GPS (+/- 6 m
accuracy in all directions).
• Elevation is obtained from topographic maps
and Google Earth
• Down hole surveys were completed at intervals
roughly every 50m and EOH using a Reflex Ez-
Trak multi shot down-hole camera.
• The drill collar azimuth is established using a
compass and the dip using a clinometer.
• Drilling, for the most part, was orientated to
investigate true width intersections. However,
Criteria JORC Code explanation JORC Code explanation Commentary Commentary
some geological structures are not fully
understood to date. Factors including dip,
direction etc. still requires further evaluation,
therefore all reported intercepts are based on
down hole lengths.
Data aggregation methods • In reporting Exploration Results, weighting averaging Barwidgee Fault RC Drilling
techniques, maximum and/or minimum grade
truncations (eg cutting of high grades) and cut-off		 • Material/anomalous results defined at 0.5, 1.0
grades are usually Material and should be stated. and 5.0 g/t Au cut-off listed in Table 1.
• Where aggregate intercepts incorporate short lengths • Reported results were weighted averaged, with
of high grade results and longer lengths of low grade up to 2m of internal dilution incorporated into
results, the procedure used for such aggregation should reported result.
• be stated and some typical examples of such
aggregations should be shown in detail.
The assumptions used for any reporting of metal
equivalent values should be clearly stated.		 •
•		 Reported intercepts do not incorporate shorter
intercepts.
Metal equivalents were not reported.
Harris Find RC and Diamond Drilling
• Drill hole intersections have been calculated
using a 0.5 and 5.0 g/t Au cut-off grade using a
maximum of 1m of internal dilution and
reported in Table 1
• Reported results were weighted averaged, with
up to 2m of internal dilution incorporated into
reported result.
• Reported intercepts do not incorporate shorter
intercepts.
• Metal equivalents were not reported.
Ives Find RC
• Gold intersections are reported as down hole
length weighted averages using the max assay
value.
• No top cuts were applied.
• Drill hole intersections have been calculated
usinga 0.2,0.5,1.0,4.0 and 5.0g/t Au cut-off
Criteria JORC Code explanation JORC Code explanation Commentary Commentary
grade using a maximum of 1m of internal
dilution and reported in Table 1
• No metal equivalents were stated
• Assay results are reported in summary form
only, which is considered appropriate for this
early stage of exploration.
May Queen RC Drilling
• Individual gold and silver grades are reported
as down hole length weighted averages using
the max assay value.
• No top cuts were applied.
• Drill hole intersections have been calculated
using a 0.2, 0.5, 1.0, 4.0 and 5.0 g/t Au cut-off
grade using a maximum of 2m of internal
dilution and reported in Table 1
• No metal equivalents were stated.
• Assay results are reported in summary form
only, which is considered appropriate for this
early stage of exploration.
Relationship between mineralisation widths and • These relationships are particularly important in the Barwidgee Fault RC Drilling
intercept lengths • reporting of Exploration Results.
If the geometry of the mineralisation with respect to		 • Down-hole lengths are reported as the
the drill hole angle is known, its nature should be mineralised structures are not well enough
reported. understood to determine true widths.
• If it is not known and only the down hole lengths are • The Barwidgee Fault Structure is interpreted to
reported, there should be a clear statement to this dip steeply to the west. The angle of reported
effect (eg ‘down hole length, true width not known’). drill-intercepts is unlikely to differ materially
from down-hole lengths.
Harris Find RC and Diamond Drilling
• Down-hole lengths were reported as the
mineralised structure is not well enough
understood to determine true widths.
Criteria JORC Code explanation JORC Code explanation Commentary Commentary
• Harris’ Find Structure interpreted as being sub-
vertical; angle of reported drill-intercepts
unlikely to differ materially from down-hole
lengths.
Ives Find RC
• All reported intercepts are based on down hole
lengths. The detailed geometry of the
mineralized zones is not fully understood at
this stage.
• Accordingly, the reported intercept lengths may
not reflect true mineralization widths.
May Queen RC Drilling
• All reported intercepts are based on down hole
lengths. The detailed geometry of the
mineralized zones is not fully understood at
this stage.
• Accordingly, the reported intercept lengths
may not reflect true mineralization widths.
Diagrams • Appropriate maps and sections (with scales) and Barwidgee Fault RC Drilling
tabulations of intercepts should be included for any
significant discovery being reported These should		 • Locations of the RAB drilling is shown in Figure
include, but not be limited to a plan view of drill hole 4 of the main body of the announcement and
collar locations and appropriate sectional views. Table 2.
Barwidgee Fault Rock-Chips
• Locations of the rock-chips is shown in Figure 4
of the main body of the announcement and
Table 2.
Harris Find RC and Diamond Drilling
• Drilling locations are found in Figure 4 of the
main body of the announcement and Table 2.
Criteria JORC Code explanation Commentary
Ives Find RC
• Maps and sections can be found in Figure 5
and Table 2.
May Queen RC Drilling
• Maps and sections can be found in Figure 6
and Table 2.
Balanced reporting • Where comprehensive reporting of all Exploration Barwidgee Fault RC Drilling
Results is not practicable, representative reporting of
both low and high grades and/or widths should be		 • All completed drillholes shown in Table 2 and
practiced to avoid misleading reporting of Exploration significant assay results appear in Table 1.
Results.
Harris Find RC and Diamond Drilling
• All completed drillholes shown in Table 2 and
significant assay results appear in Table 1.
Ives Find RC
• All completed drillholes shown in Table 2 and
significant assay results appear in Table 1.
May Queen RC Drilling
• All completed drillholes shown in Table 2 and
significant assay results appear in Table 1.
• Maximum gold assay result illustrated in Figure
6 appear in Table 3.
Other substantive exploration data • Other exploration data, if meaningful and material, Comprehensive descriptions of previous exploration
should be reported including (but not limited to): work can be found in the following Great Western
geological observations; geophysical survey results; Exploration (ASX:GTE) ASX Announcements:
geochemical survey results; bulk samples – size and
method of treatment; metallurgical test results; bulk
density, groundwater, geotechnical and rock
characteristics; potential deleterious or contaminating		 •
•
•		 26/04/2016 – Potential Gold Acquisition
16/01/2017 - Ives Drilling Update
15/02/2017 - Positive Results from Drilling at
substances. Ives Find
46
Criteria JORC Code explanation Commentary
• 29/03/2017 - High Grade Gold at Ives Find
• 10/04/2017 - 6 km Gold Trend Identified at
Yandal West
• 17/05/2017 - Soil Sampling Commenced at
Yandal West
• 5/07/2017 - Soil Sampling Identifies a 9 km Gold
Trend at Yandal West
• 1/08/2017 - Aeromag Highlights Exciting Gold
Areas at Yandal West
• 4/09/2017 - Further Strong Gold Results from
Infill Soils at Yandal West
• 19/10/2017 - Drilling to Commence at Yandal
West Gold Project
• 29/11/2017 - Greenfields Gold Discovery at
Yandal West Project
• 30/01/2018 - Further Strong Results and High-
Grade Gold at Yandal West
• 14/05/2018 - Further High-Grade Gold &
Recommencement of Drilling at Yandal West
• 13/02/2019 - High-Grade Gold Continues at
Yandal West Gold Project
• 8/04/2019 - High Impact Drilling to test Jundee
Gold Analogue set to commence
• 16/07/2019 - Initial Results from latest RC
Drilling at Yandal West
• 23/09/2019 - Re-Release: Multiple Gold Bearing
Shear Zones at Yandal West
• 31/10/2019 - High-Grade Gold Outcropping at
Yandal West and Drilling to Recommence
• 11/11/2019 - Harris Find High Grade Gold
Target and Drilling completed at Yandal West
• 27/11/2019 - Further Gold Intersected at Yandal
West and VMS Potential Identified
• 20/12/2019 - Further samplingconfirms High
47
Criteria JORC Code explanation Commentary
Grade Gold at Yandal West
• 6/10/2021 - EM Survey Defines Discrete,
Conspicuous and Shallow VMS Targets at Yandal
West
• 25/10/2021 - Two Additional Priority One VMS
Targets, Daddy Long Legs and Redback,
Defined at Yandal West
• 21/6/2022 - Commencement of Drilling -
Yandal West
• 21/7/2022 - Multiple Sulphide Drill
Intersections at Yandal West
• 31/8/2022 - Significant Gold Intercepts From
Harris’ Find Drilling
• 15/9/2022 - Interpreted Extension of Highly
Prospective Barwidgee Structure
• 8/12/2022 - Phase 2 Extension Drilling
Commences at Harris’ Find
• 31/1/2023 - Completion of Drilling at Harris’
Find
• 3/3/2023 - Harris’ Find RC Assays Received
• 8/11/2023 - Proof of Concept Drilling Returns
High-Grade Gold Results
Further work • The nature and scale of planned further work (eg tests Barwidgee Fault
for lateral extensions or depth extensions or large-scale
step-out drilling).		 • Further work at Harris Find may include RC
• Diagrams clearly highlighting the areas of possible Drilling and/or Diamond Drilling.
extensions, including the main geological • See diagrams within main body of
interpretations and future drilling areas, provided this announcement.
information is not commercially sensitive.
Harris Find
• Further work at Harris Find may include RC
Drilling and/or Diamond Drilling.
• See diagrams within main body of
announcement.
48
Criteria JORC Code explanation Commentary Commentary
Ives Find
• Further work at Harris Find may include RC
Drilling and/or Diamond Drilling.
• See diagrams within main body of
announcement.
May Queen
• Further work at May Queen may include RC
Drilling and/or Diamond Drilling.
• See diagrams within main body of
announcement.
Criteria JORC Code explanation Commentary Commentary
Ives Find
• Further work at Harris Find may include RC
Drilling and/or Diamond Drilling.
• See diagrams within main body of
announcement.
May Queen
• Further work at May Queen may include RC
Drilling and/or Diamond Drilling.
• See diagrams within main body of
announcement.

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