ALCHEMY RESOURCES LIMITED — Interim / Quarterly Report 2016

Jul 28, 2016

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ASX RELEASE

JUNE 2016 QUARTERLY REPORT

29 JULY 2016

Highlights

CODE: ALY

BOARD OF DIRECTORS

Mr Oscar Aamodt Non-Executive Chairman

Ms Liza Carpene Non-Executive Director

Mr Lindsay Dudfield Non-Executive Director

LACHLAN PROJECTS (NSW) – gold & base metals

• High-grade gold – base metal projects in central Lachlan province secured through a Farm-in and Joint Venture agreement with Heron Resources Ltd ( ASX: HRR )

• Drill-ready, high-grade gold – base metal targets identified at Overflow

• Initial RC-diamond drilling to commence upon receipt of statutory approvals

Mr Anthony Ho Non-Executive Director

KARONIE PROJECT (WA) – gold

ISSUED CAPITAL

SHARES 230,788,035 OPTIONS 10,500,000 (Unlisted)

• Acquisition of significant gold prospective land-holding at Karonie in the Eastern Goldfields

• High-grade gold targets identified at multiple prospects

PROJECTS

BRYAH BASIN (80-100%) KARONIE (100%) LACHLAN (earning up to 80%)

• Initial drill testing to commence upon grant and receipt of statutory approvals

BRYAH BASIN PROJECT (WA) – gold & base metals

Suite 8/8 Clive Street WEST PERTH WA 6005

Phone: +61 8 9481 4400 Facsimile: +61 8 9481 4404 www.alchemyresources.com.au

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• Base metals exploration continued through Independence Group NL ( ASX: IGO ) Farm-in/Joint Venture, with aircore drilling program to commence in August

• Gold exploration continued through Northern Star Resources Ltd ( ASX: NST ) Farm-in/Joint Venture, with planning of follow-up auger geochemical drilling of multiple gold targets

CORPORATE

• Cash at 30 June 2016 – $1.2M

Alchemy Resources Ltd (ASX: ALY ; “ Alchemy ” or “ the Company ”) is an Australian gold and base metal exploration company focused on growth through the discovery and development of gold and base metal resources within Australia.

The Company recently entered a Farm-in and Joint Venture Agreement on the Lachlan Projects in New South Wales ( see ASX announcement dated 30 May 2016 ) where it will look to advance targets through discovery and extensional drilling to define sufficient resources to underpin a profitable near-term development scenario. This project is in a well-endowed gold and base metal district with significant upside in both gold and copper.

Alchemy also recently acquired a significant gold-prospective land package in the Karonie greenstone belt (see ASX announcement dated 24 May 2016) in the Eastern Goldfields region in Western Australia where it intends to test high-grade gold targets through extensional drilling. The Karonie Project is in one of Australia’s premier gold provinces with significant potential to discover additional gold resources.

Alchemy maintains its interest in the Bryah Basin Project in the emerging gold and base metal-rich Gascoyne region of Western Australia where farm-in and joint venture partners, Independence Group NL (ASX: IGO ; “ IGO ”) and Northern Star Resources Ltd (ASX: NST ; “ Northern Star ”) are continuing to advance base metal and gold exploration, respectively.

In the June 2016 Quarter, the focus was on compiling historic exploration information and the assessment and planning for the commencement of field activities at the new Lachlan Projects and Karonie Project.

Lachlan Projects (NSW) (Alchemy earning up to 80%)

Alchemy has entered into a Farm-in and Joint Venture Agreement with Heron Resources Ltd (ASX: HRR ; “ Heron ”) to earn up to an 80% interest in three gold and base metal projects in the highly prospective central Lachlan province ( Figure 1 ). The Lachlan Projects consist of the Overflow Gold-Base Metal Project, the Eurow CopperGold Project and the Girilambone Copper Project. Each of these projects contains identified gold and / or base metal targets, including drill-ready priority targets at the Overflow Project.

The Lachlan projects represent a strategic exploration project acquisition for Alchemy, with a large 674km[2] land package in the underexplored central Lachlan province. The projects are proximal to high profile mining centres in the central Lachlan, including Hera/Nymagee (Aurelia Metals Ltd), Mallee Bull (Peel Mining Ltd), Mineral Hill (KBL Mining Ltd), Tritton/Murrawombie (Aeris Resources Ltd) and the Parkes mining centre ( Figure 1 ).

Overflow Gold-Base Metal Project

The Overflow Gold-Base Metal Project (“ Overflow ”) consists of four exploration licences covering 390km[2] located over a 50km long zone from 75km south-east of Cobar to adjacent to KBL Mining’s Mineral Hill operation ( Figure 1 ). The project is located along the northern extension of the Gilmore Suture within Ordovician-Devonian metasediments and prospective for epithermal and Cobar-style gold and base-metal mineralisation.

Overflow is centred on the historic Overflow mining centre ( Figure 2 ), a past producer of gold, silver and lead, and has been the focus of previous exploration in the area since mining ceased in 1942. Mineralisation at Overflow is structurally-controlled, high-grade gold-silver with base metal credits, with known zones having relatively short strike lengths but potentially long in the down-plunge direction, typical of Cobar-style mineralisation.

Historic drilling at Overflow has returned a number of significant high-grade intercepts, including:

BOBRCPC6 4.6m at 8.49g/t gold, 79g/t silver, 13.5% zinc, 7.1% lead (from 185.4m) TBB001 10m at 4.44g/t gold, 21g/t silver, 3.0% zinc, 1.3% lead (from 163m) TBB006 16m at 1.13g/t gold, 88g/t silver, 1.15% zinc, 0.43% lead (from 162m)

Quarterly Report 1 April 2016 – 30 June 2016

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• TBB008 7m at 1.67g/t gold, 135g/t silver, 1.3% zinc, 0.5% lead (from 198m) & 7m at 5.46g/t gold, 19g/t silver, 1.9% zinc, 1.4% lead (from 236m)

• TBB017 6m at 4.69g/t gold, 39g/t silver, 2.4% zinc, 1.9% lead (from 121m) & 6m at 7.55g/t gold, 29g/t silver, 3.6% zinc, 1.5% lead (from 136m)

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Figure 1 : Lachlan projects – Overflow, Eurow & Girilambone – Farm-in / Joint Venture Agreement with Heron Resources Ltd.

Outside of the historic mine area a number of regional prospects have been delineated and warrant further exploration. Along strike to the south of the Overflow mine, at the BOZ target ( Figure 2 ), a single drill hole, OFTRC005, targeted an IP chargeability anomaly was terminated at the edge of the anomaly. The drill hole ended in weak mineralisation (12m at 0.42g/t gold to end of the hole) with visible chalcopyrite identified, and it represents a priority target for further drill testing.

At the Parkvale target ( Figure 2 ), narrow high-grade intersections, including 0.7m at 5.7% copper and 1.2% lead in BO-1A drilled in 1977, have not been followed up. Coherent gold-zinc in soil anomalism over an area of 600 x 400 m at Prettyview South ( Figure 2 ) has not been drilled tested. At Black Range Tank and Airport ( Figure 2 ), outcropping gossans and limited shallow drilling has returned base metal anomalism with semi-coincident EM anomalies.

Quarterly Report 1 April 2016 – 30 June 2016

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Figure 2 : Overflow Gold-Base Metal Project showing Overflow mining centre, historic drilling & mineral occurrences, gold & base metal prospects, over aeromagnetic image and satellite imagery.

Eurow Copper-Gold Project

The Eurow Copper-Gold Project (“ Eurow ”), located 30 km southeast of Parkes ( Figure 1 ), covers Ordovician and Devonian-aged meta-sediments intruded by Silurian and Devonian granites and proximal to the intersection of the Narromine-Coolac Fault Zone and the Lachlan Transverse Zone. The Project area contains the historic EurowVychan copper-gold workings where drilling by previous companies below the workings returned high-grade intercepts of 8m at 2.94% copper and 0.85g/t gold from 47m, 3m at 4.0% copper and 1.25g/t gold from 73m, and 4.4 metres at 1.57% copper and 0.63g/t gold from 212m.

Copper-gold mineralisation at Eurow appears to be planar and stratiform and is associated with semi-massive and breccia zones of pyrite-pyrrhotite-chalcopyrite. The style of mineralisation is both conductive and magnetic with targets identified to the north and south of the historic workings. Heron undertook shallow aircore drilling in late 2013 on targets north and south of the historic workings that returned anomalous copper results. The drilling, which was hampered by thick clay zones, did not reach target depths and warrants further drill testing.

Quarterly Report 1 April 2016 – 30 June 2016

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Girilambone Copper Project

The Girilambone Copper Project (“ Girilambone ”) comprises one granted tenement (EL8318), about 25 km northwest of Nyngan, on the eastern edge of the Girilambone Basin. Girilambone is located near Aeris’s Tritton copper operation, where Aeris recently announced development of the Murrawombie underground copper mine and along strike from the high-grade Collerina copper prospect (Helix Resources Ltd).

The Project area is prospective for ‘Besshi-type’ volcanic massive sulfide (VMS) copper-gold mineralisation within mafic units of the Ordovician Girilambone Group. Girilambone is located along interpreted VMS trends extending from Collerina in the south to north of Murrawombie ( Figure 1 ). The Project area is adjacent to copper anomalism along structural and magnetic trends from the historic Kurrajong copper workings.

- Proposed Near Term Exploration Activities

A priority RC-diamond drilling program targeting up and down-plunge positions of the mineralisation zones at the Overflow mining centre is planned to commence in the September 2016 Quarter, subject to completion of landholder access agreements and statutory approvals.

Alchemy has identified additional high-grade gold and base metal targets at the Overflow and Eurow project areas and is planning initial field reconnaissance of identified targets in the second half of 2016. Initial geophysical and geochemical surveys will then be carried out to determine the potential for high-value discoveries within these target areas. Alchemy is continuing review and interpretation of historic exploration information from the Girilambone project area with systematic exploration targeting Tritton/Collerina-style copper-gold mineralisation planned.

Karonie Project (WA) (Alchemy 100%)

The Karonie Project, located 100km east of Kalgoorlie, comprises four exploration licence applications totally over 230km[2 ] of highly prospective Archean greenstone belt in the Eastern Goldfields in Western Australia ( Figure 3 ). The Karonie Project is strategically located close to existing processing plants, and given the already substantial gold endowment in the area (>470,000 oz gold), Alchemy is focusing its near-term exploration efforts to the discovery of additional high-grade gold mineralisation.

The Project licence applications surround Silver Lake Resources’ Harry’s Hill deposit with a Probable Reserve of 1.13Mt at 2.4g/t gold for 86,000 oz gold ( Silver Lake Resources ASX announcement dated 28 August 2015 ) and scheduled for production from FY19 ( Silver Lake Resources Presentation to Melbourne Mining Club dated 15 March 2016 ). The Karonie Project is along strike from Breaker Resources’ Lake Roe Project where a new 6kmlong gold anomalous zone has been delineated through shallow drilling, and where initial RC drilling at the Bombora prospect has returned high-grade gold assays to over 20g/t gold (see Breaker Resources ASX Announcement dated 18 April 2016 ).

The Karonie Project contains more than 40km of strike extent of Archean greenstone belt in the Eastern Goldfields Superterrane, and is prospective for high-grade Orogenic gold and VMS-style base metal deposits. The Project has a high-quality geological setting, located between major, regional-scale fault zones, the KeithKilkenny and Claypan Faults ( Figure 3 ). The fault zones are interpreted to be deep-seated, domain-bounding structures within the highly gold-endowed Kurnalpi Terrane, and in a position which hosts Saracen Minerals’ Karari-Carosue Dam gold deposits 75km to the north.

Quarterly Report 1 April 2016 – 30 June 2016

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Figure 3: Karonie Project (in blue) showing gold and base metal prospects, location of Silver Lake Resources’ Harry’s Hill / French Kiss resource areas and Breaker Resources’ Lake Roe Project, over simplified bedrock geology, major faults and aeromagnetic image.

Review of historic exploration indicates that the Karonie Project is located surrounding and along strike from gold deposits in a geological setting with camp-scale gold targeting vectors, including structural setting, evidence for zones of hydrothermal alteration and anomalous pathfinder geochemistry. Previous explorer Integra Mining Limited undertook a collaborative research project with the CSIRO that identified a 10km long major fault and fluid conduit zone that was interpreted to have been active during the major gold event in the region.

The Karonie Project has seen exploration carried out in various phases since the 1980’s, with supergene gold mined from Karonie Main Zone-Harry’s Hill (excised from the project area: Figure 3 ) by Freeport McMoran Ltd and Poseidon Gold Ltd between 1987 and 1992 producing 1.593Mt at 3.67g/t gold.

Historic reconnaissance, shallow rotary air blast and aircore drilling has outlined a series of >4km strike length gold anomalous trends, including Little Peck–Esplanade, Admiral, Batavia and Challenger in the southern half of the Project area ( see ReLode Mining/Integra Mining ASX announcements dated 4 May 2004, 5 August 2004, 18 January 2011 and 21 February 2012 ). The shallow drilling also indicates that the Project area has a complex

Quarterly Report 1 April 2016 – 30 June 2016

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regolith with a stripped Archean profile overlain by reworked sediments, wind-blown sands and paleo-drainage channels and salt lakes. Consequently, the shallow cover is very complex and areas with shallow gold anomalism require deeper RC drilling to adequately test identified targets.

Review of historic, wide-spaced, first-pass RC drilling, undertaken to drill test some of the targets delineated by the shallow drilling, indicates numerous high-grade gold intercepts in bedrock at multiple prospects (see Integra Mining ASX announcements dated 28 January 2005, 27 April 2006, 18 September 2012, and 17 December 2012 ), including:

Batavia 2m at 12.06 g/t gold (from 182m) in ISRC1001 1m at 39.07 g/t gold (from 121m) in ISRC1003 8m at 3.30 g/t gold (from 128m) in ISRC1063 Challenger 10m at 1.46 g/t gold (from 128m) in ISRC1035 Little Peck- 5m at 2.86g/t gold (from 101m) in LPRC005 Esplanade 1m at 21.35g/t gold (from 133m) in LPRC018

Gold mineralisation at Batavia and Challenger prospects is associated with quartz veining and/or elevated pyrite±pyrrhotite contents in hydrothermally altered felsic/intermediate sediments and volcanics and mafic porphyritic basalts. The Batavia and Challenger targets contain broad gold anomalism, alteration assemblages and structural complexity over strikes of 700m and 400m, respectively.

The KZ5 prospect at the northern end of the Karonie Project has gold and base metal anomalism over a strike extent of 1.2km, outlined by broad-spaced drilling, and with untested IP and EM anomalies ( see Integra Mining ASX announcements dated 16 January 2007, 27 July 2007 and 14 October 2009 ). The mineralisation is VMS-style and associated with felsic volcanic flows and fine-grained sediments inter-bedded with laminated exhalative sulfides. Historic drilling has returned anomalous gold-zinc intercepts, including:

KZ5 20m at 1.58 g/t gold (from 190m) and 14m at 0.44% zinc (from 202m) in KZRC040D 26m at 0.74 g/t gold, 0.36% zinc (from 140m) in KZRC039 12m at 1.37 g/t gold, 0.71% zinc (from 42m) in KZD001.

- Proposed Near Term Exploration Activities

Alchemy is currently reviewing the historic exploration data and planning future exploration programs while the Company negotiates heritage agreements. A number of high-grade gold intercepts at the Batavia, Challenger and Little Peck-Esplanade prospects and the base metal-gold anomalism at the KZ5 prospect have been identified for further review, with targeted RC drilling to commence once the exploration licences are granted and statutory approvals are in place.

Bryah Basin Project (WA) (Alchemy 80-100%)

Alchemy’s Bryah Basin Project comprises a 500km[2] ground package located 130km NE of Meekatharra, Western Australia. The project is located along strike and west of Sandfire Resources’ DeGrussa copper-gold mine and high-grade copper-gold resource at Monty, and adjacent to Peak Hill where about 1Moz of gold has been mined from several deposits ( Figure 4 ). Alchemy holds 100% interest in the project with the exception of several tenements held in joint-venture with Fe Ltd ( ASX: FEL ).

Alchemy retains its interests in the base metal and gold prospective Bryah Basin Project through farm-in and joint venture agreements with Independence Group NL ( ASX: IGO ) (“ IGO ”) ( see ASX announcement dated 5 November 2014 ) and Northern Star Resources Ltd ( ASX: NST ) (“ Northern Star ”) ( see ASX announcement dated 24 February 2015 ). Should a high-value base metal or gold discovery be made by IGO or Northern Star, Alchemy retains the right to participate as a 20% partner, an equity position that should deliver significant value to shareholders.

Quarterly Report 1 April 2016 – 30 June 2016

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Figure 4: Bryah Basin Project – IGO JV and Northern Star JV areas and gold and base metal prospects.

Base Metals Exploration (IGO earning up to 80%)

Leading Australian base metal and gold producer IGO is exploring and earning an interest (“ IGO JV ”) in the whole and part tenements that cover the base metal prospective area of the Bryah Basin Project ( see ASX announcement dated 5 November 2014 ). Under the terms of the IGO JV, IGO can earn up to 80% in Alchemy’s interests (excluding iron ore rights) through Earn-In Expenditure of $6M within five years, with Alchemy freecarried on further exploration to completion of a Pre-Feasibility Study and then carried on an interest-free deferred basis for a further $5M of Definitive Feasibility Study expenditure.

The IGO JV area contains more than 40km of strike extent of the Narracoota – Karalundi volcano-sedimentary sequence, host to Sandfire Resources’ DeGrussa copper-gold deposit and the high-grade Monty copper-gold resource ( Figure 4 ), and prospective for discovery of VMS-style copper-gold deposits.

Broad-spaced diamond and RC drilling undertaken at the Neptune prospect in late 2015 ( see ASX announcements dated 2 October 2015 and 27 January 2016 ) returned high-order, copper and / or gold anomalism associated with stringer-style to heavy disseminated/blebby, pyrite-dominant sulfide mineralisation. Mineralisation is mainly hosted at three stratigraphic horizons within a 2.5km long, strike-parallel zone within the Karalundi sedimentary-dominated sequence, close to the contact with the overlying mafic (sub-)volcanic-dominated Narracoota sequence. The zones of base metal anomalism are semi-coincident with several linear, moderate to strong electromagnetic (EM) conductors returned from moving-loop EM (MLEM) surveys conducted over the Neptune prospect, along with several potential basin-forming growth faults.

Review of all data relating to the broad-spaced diamond/RC drilling program at Neptune highlights five target areas, comprising a combination of geochemical, geophysical and structural features, which require follow-up drilling. These targets include an off-hole response from a down-hole EM survey undertaken on the diamond and RC holes, and interpreted to be of high conductance (3000 Siemens) and modelled to lie between drill sections.

During the June 2016 Quarter, IGO advised that two geophysical surveys were completed over parts of the IGO JV area. A high-resolution aeromagnetic and radiometric survey was completed over the Neptune and Churchill prospects to complement existing datasets of similar detail covering part of the western Bryah Basin Project. In

Quarterly Report 1 April 2016 – 30 June 2016

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addition, a detailed ground gravity survey was acquired in the Reefer Well area ( Figure 4 ), to extend the coverage of regional gravity data acquired across the Bryah Basin Project area.

IGO further advised that the majority of exploration on the tenements to date has focussed on the KaralundiNarracoota contact zone. There is increasing evidence to suggest that other zones within the Bryah Basin Project area, particularly those stratigraphically deeper within the Karalundi sequence, are also highly prospective for VMS-style mineralisation. Structural interpretation and targeting of these areas, integrating the recently acquired geophysical data, was undertaken in the June 2016 Quarter, with commencement of aircore drilling of selected regional targets scheduled to commence in August 2016. In addition, a MLEM survey in the Moby area ( Figure 4 ) to delineate drill targets is planned for the end of the September 2016 Quarter.

Gold Exploration (Northern Star earning up to 80%)

Leading Australian gold producer Northern Star commenced a Farm-in and Joint Venture (“ Northern Star JV ”) in early 2015 ( see ASX announcement dated 24 February 2015 ). The Northern Star JV is to explore and earn up to 80% of Alchemy’s interests in the whole and part tenements that cover the gold prospective part of the Bryah Basin Project ( Figure 4 ), including existing gold resources at the Wilgeena gold deposit (Indicated Resource of 1.36Mt @ 1.99g/t, equivalent to 87,373 ounces of gold: see ASX announcement dated 22 October 2012 ).

Under the terms of the Northern Star JV, Northern Star can earn up to 80% in Alchemy’s interests through Earn-In Expenditure of $1.2M within three years on the gold prospective tenements. Upon Northern Star fulfilling its Earn-In Expenditure, Alchemy’s interest is carried on an interest-free deferred basis to production, with Alchemy to repay Northern Star the deferred amount at the rate of 50% of its share of free cash flow from production following commencement of mining.

The Northern Star JV is enabling near-term exploration of a number of advanced to grass roots gold targets identified over the gold prospective landholding in the Bryah Basin Project. These include high-grade gold targets at the Wilgeena, Central Bore and Seaborg areas ( Figure 4 ), historic gold intercepts and gold-in-soil anomalies along strike from these prospects and other high priority targets.

Auger geochemical drilling programs completed in late 2015 on selected target areas returned multiple areas with low-order (+6ppb Au) gold anomalism in the Flamel, Henry, Jones, Pelorus and Troy areas ( Figure 5 ), with a peak result of 60.2ppb Au returned from the Pelorus prospect.

Northern Star advises that interpretation of high-resolution aeromagnetic and radiometric data acquired over parts of the Northern Star JV area is being used to plan further in-fill and extension auger geochemical drilling of gold target areas in the September Quarter, as well as possible aircore/RC drilling traverses to test identified trends.

Quarterly Report 1 April 2016 – 30 June 2016

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Figure 5: Northern Star JV area – Auger geochemical drilling results (Au ppb, gridded) on interpreted regolith cover. Note widespread colluvial cover.

Corporate

At 30 June 2016, the Company retained a cash balance of $1.2M.

A total of 2,000,000 fully paid ordinary shares and 2,500,000 unlisted options in the Company were issued during the Quarter to Heron Resources Ltd in part consideration for the Farm-In and Joint Venture Agreement for the Lachlan projects in New South Wales. A further 5,000,000 unlisted options in the Company were issued during the Quarter in part consideration for corporate services undertaken to secure the Lachlan projects.

At the end of the Quarter, the Company’s capital structure was as follows:

230,788,035 fully paid ordinary shares (ASX: ALY)

• 10,500,000 unlisted options at an exercise price of 10c and a term of 3 years

The Company continues to actively seek and assess potential opportunities to acquire high-value gold and base metal projects, both in Australia and abroad. These range from greenfields exploration prospects to more advanced projects with significant mineral resources.

Please direct enquiries to: Mr Oscar Aamodt – Chairman

Dr Kevin Cassidy – Chief Executive Officer

Telephone: +61 8 9481 4400

Quarterly Report 1 April 2016 – 30 June 2016

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The information in this report that relates to Exploration Results is based on information compiled by Dr Kevin Cassidy, who is a part-time employee and security holder of Alchemy Resources Limited. Dr Cassidy is a Fellow of the Australian Institute of Geoscientists and has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (‘JORC Code 2012’). Dr Cassidy consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

The information in this report that relates to Mineral Resources at the Wilgeena Gold Deposit is based on information compiled by Simon Coxhell, who is an employee of CoxsRocks Pty Ltd, a consultant to Alchemy Resources Limited. Mr Coxhell is a Member of the Australian Institute of Geoscientists and the Australasian Institute of Mining and Metallurgy and has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2004 Edition of the Joint Ore Reserves Committee ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (‘JORC Code 2004’). Mr Coxhell consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

Alchemy confirms that the Indicated Mineral Resource at the Wilgeena Gold Deposit were prepared and first disclosed under JORC Code 2004. These have not been updated since to comply with JORC Code 2012 on the basis that the information has not materially changed since last reported on 22 October 2012. Alchemy is not aware of any new information or data that materially affects the information included in that announcement and that all material assumptions and technical parameters underpinning the estimates in that announcement continue to apply and have not materially changed.

Quarterly Report 1 April 2016 – 30 June 2016

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APPENDIX 1 Schedule of Mining Tenements as at 30 June 2016

			Interest startQtr	Interest endQtr
Project/Tenement	State	Status			Co-holder	Notes
Bryah Basin Project E52/1668 E52/1678 E52/1722 E52/1723-I E52/1730 E52/1731 E52/1810 E52/1852 E52/2360 E52/2362 E52/3292 E52/3405 E52/3406 E52/3407 E52/3408 E52/3409 M52/722 M52/723 M52/737 M52/795 M52/844-I M52/1049 P52/1195 P52/1196 P52/1199 P52/1200 P52/1314 P52/1315 P52/1316 P52/1317 P52/1318 P52/1320 P52/1321 P52/1322 P52/1323 P52/1327 P52/1365 P52/1425 P52/1427 P52/1428 P52/1429 P52/1467 P52/1468 P52/1469 P52/1470	WA WA WA WA WA WA WA WA WA WA WA WA WA WA WA WA WA WA WA WA WA WA WA WA WA WA WA WA WA WA WA WA WA WA WA WA WA WA WA WA WA WA WA WA WA	Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted Granted	80% 80% 80% 100% 80% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 80% 80% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%	80% 80% 80% 100% 80% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 80% 80% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%	Jackson Minerals Pty Ltd Jackson Minerals Pty Ltd Jackson Minerals Pty Ltd Jackson Minerals Pty Ltd Jackson Minerals Pty Ltd Jackson Minerals Pty Ltd	1, 2, 3 1, 2, 3 1, 2 2, 4, 5 1, 2, 3 2, 4 2 4 2, 4, 6 2, 4, 6 2 2, 4, 6 2, 4, 6 2, 4, 6 2, 4, 6 2, 4, 6 2, 4, 6 2, 4, 6 4, 6 2, 4, 6 2, 6 4, 6 1, 3 1, 3 2 2 4, 6 4, 6 4, 6 2, 6 2, 6 2, 6 4, 6 4, 6 2, 6 4, 6 4, 6 2 2 2 4 2 2 2 2
Lachlan Projects EL5878 - Overflow EL7941 - Overflow EL8267 - Overflow EL8356 - Overflow EL8192 - Eurow EL8318 - Girilambone	NSW NSW NSW NSW NSW NSW	Granted Granted Granted Granted Granted Granted	0% 0% 0% 0% 0% 0%	0% 0% 0% 0% 0% 0%	ALY earning up to 80% ALY earning up to 80% ALY earning up to 80% ALY earning up to 80% ALY earning up to 80% ALY earningupto 80%	7 7 7 7 7 7
SE Yilgarn Projects E28/2475 E28/2476 E28/2575 E28/2576 E28/2601	WA WA WA WA WA	Granted Granted Application Application Application	100% 100% 100% 100% 0%	100% 100% 100% 100% 100%		8 8 8 8 8 8
E28/2619	WA	Application	0%	100%

Quarterly Report 1 April 2016 – 30 June 2016

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Notes:

1. Jackson Minerals Pty Ltd, a subsidiary of Fe Ltd (ASX: FEL), retains a 20% interest free-carried to a decision to mine.

2. Independence Group NL (ASX: IGO) has a right to explore and earn a 70-80% interest (excludes iron ore) in whole or part tenement by sole funding a total of $6,000,000 of exploration expenditure, with Alchemy free-carried up to completion of a pre-feasibility study.

3. Northern Star Resources Ltd (ASX: NST) has a right to explore and earn a 70% interest in whole or part tenement by sole funding a total $1,200,000 on exploration expenditure over tenements or parts of tenements marked (3) & (4).

4. Northern Star Resources Ltd (ASX: NST) has a right to explore and earn a 80% interest in whole or part tenement by sole funding a total $1,200,000 on exploration expenditure over tenements or parts of tenements marked (3) & (4).

5. PepinNini Robinson Range Pty Ltd retains a 1% NSR on iron ore.

6. 100% minerals rights for all minerals, excluding iron ore; Carey Mining Iron Ore JV – Alchemy Resources 50%, Carey Mining 50% iron ore.

7. Alchemy Resources (NSW) Pty Ltd, a subsidiary of Alchemy Resources Ltd, has a right to explore and earn up to an 80% interest in tenements by sole funding a total of $2,000,000 on exploration expenditure.

8. Goldtribe Corporation Pty Ltd, a subsidiary of Alchemy Resources Ltd, has 100% interest in the tenement.

Quarterly Report 1 April 2016 – 30 June 2016

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