ARDEA RESOURCES LIMITED

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ASX & Media Release

Kalgoorlie Gold Mining IPO Investor Presentation

23 September 2021

ASX Symbol

Ardea Resources Limited (Ardea) (ASX: ARL) is pleased to release the attached presentation prepared by wholly owned subsidiary Kalgoorlie Gold Mining Limited (KalGold) on the demerger and Initial Public Offer (IPO) of its gold exploration assets in Western Australia.

ARL

Suite 2 / 45 Ord St West Perth WA 6005

This announcement has been authorised for release by the Board.

PO Box 1433 West Perth WA 6872

For further information regarding Ardea and KalGold, please visit www.ardearesources.com.au/ and www.kalgoldmining.com.au or contact:

Telephone

Andrew Penkethman Matt Painter Managing Director and CEO Managing Director and CEO Ardea Resources Kalgoorlie Gold Mining Tel +61 8 6244 5136 Tel +61 8 6244 5136

+61 8 6244 5136

Email

[email protected]

Website

www.ardearesources.com.au

Directors

Mat Longworth Non-Executive Chair

Andrew Penkethman Managing Director & CEO

Ian Buchhorn Technical Executive Director

Executive Management

Sam Middlemas Company Secretary & CFO

Issued Capital

Fully Paid Ordinary Shares 138,034,219

Directors/Employee Performance Rights 4,667,000

ABN 30 614 289 342

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2cm
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Investor Presentation S e p t e m b e r 2 0 2 1

Kalgoorlie Gold Mining IPO (ASX: KAL) Discovery and development of gold resources in the Eastern Goldfields of Western Australia

Matt Painter

Managing Director and Chief Executive Officer

(L) Daylighting slot at Great Ophir, Bulong Taurus Project. (R) Eluvial gold recovered from near the Turnpike workings (2021), central P25/2295. Source: Ardea Resources Limited announcement 24 August 2021.

Disclaimer and Forward Looking Statement

This presentation has been prepared by Ardea Resources Limited ( Company ). It contains general background information only which is current at the date of this presentation unless otherwise specified. It contains selected summary information and does not purport to be all-inclusive, comprehensive or to contain all of the information that may be relevant, or which a prospective investor may require in evaluations for a possible investment in the Company or Kalgoorlie Gold Mining Limited ( KalGold ). Prospective investors should not rely on the information contained in this presentation, and must satisfy themselves as to the accuracy of all such information. This presentation has been prepared based on information available at the time of preparation and is subject to change without notice. In receiving this presentation, each recipient agrees to the foregoing terms and conditions, including any modifications to them. No person is under any obligation to update this presentation at any time after its release.

This presentation is provided for general information purposes only. This presentation does not constitute an offer, invitation, solicitation or recommendation with respect to the purchase or sale of securities in the Company or KalGold in any jurisdiction. It is not a prospectus, product disclosure statement, pathfinder document or any other type of public offer disclosure document for the purposes of the Corporations Act 2001 (Cth) and has not been, and is not required to be, lodged with the Australian Securities and Investments Commission ( ASIC ). It should not be relied upon by the recipient in considering the merits of the Company or KalGold, or the acquisition of shares in the Company or KalGold. The Kalgoorlie Gold Mining Limited Prospectus dated 17 September 2021 is available on www.kalgoldmining.com.au ( KalGold Prospectus ). The offer of shares in KalGold is made in the KalGold Prospectus. A person should consider the KalGold Prospectus in deciding whether to acquire shares in KalGold. Anyone who wants to acquire shares in KalGold will need to complete the application form that is in or that accompanies the KalGold Prospectus. None of Ardea, its subsidiaries or its representatives are providing or offering investment advice or services by making this presentation.

None of Ardea, its subsidiaries nor its representatives make any representation, warranty or guarantee of any kind, express or implied, as to the accuracy, completeness or reasonableness of the information contained herein or any other written or oral communication transmitted or made available to any person receiving this presentation. To the maximum extent permitted by law, Ardea, its subsidiaries and representatives expressly disclaim any and all liability based on or arising from, in whole or in part, such information, or any errors or omissions.

This presentation contains forward-looking statements regarding the Company’s resources, intentions and future business, including the future business of its subsidiaries. These statements reflect current information, expectations, intentions and strategies regarding the future, and are subject to certain risks and uncertainties. Should one or more of these risks or uncertainties materialise, or should any of the underlying assumptions prove incorrect, actual results may vary from the expectations, intentions and strategies described in this presentation. Investors are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date they are made. Other than where required by law, the Company is under no obligation to revise any forward-looking statement to reflect events or circumstances after the date of this presentation or to reflect the occurrence of unanticipated events.

Though reasonable care has been taken to ensure that the facts are accurate and/or that the opinions expressed are fair and reasonable, no reliance can be placed for any purpose whatsoever on the information contained in this document or on its completeness. Actual results and developments of projects and the market development may differ materially from those expressed or implied by these forward-looking statements depending on a variety of factors.

No stock exchange, regulation services provider, securities commission or other regulatory authority has approved or disapproved the information contained in this news release.

All assays, intercepts, and images of gold are published by Ardea Resources Limited in their announcement dated 24 August 2021. See Table 1 for full details. As at the date of this presentation, Kalgoorlie Gold Mining Limited is a wholly owned subsidiary of Ardea.

Competent Person Statement

The Information in this Presentation that relates to Exploration Targets or Exploration Results is extracted from the KalGold Prospectus (available at www.kalgoldmining.com.au) and from the Company’s announcement on 24 August 2021 re the spin-out of its Kalgoorlie-based gold assets.

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that all material assumptions and technical parameters underpinning the estimates or production targets or forecast financial information derived from a production target (as applicable) in the relevant market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements.

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Introducing ‘KalGold’

experienced team, Kalgoorlie Gold Mining (KalGold) plans

ASX: KAL

Historic results to build on…

GREAT OPHIR 5m at 52.1g/t Au from 15m (TAC-004)[1]

TRAFALGAR 4m at 9.34g/t Au from 16m (BGRB244)[2]

L e a d p r o j e c t : Bulong Taurus Gold

High-grade, shallow gold mineralisation with depth continuation.
Not drilled since the 1990s.

TURNPIKE 4m at 6.81g/t Au from 24m (BERC021)[3]

CENTRAL 10m at 39.1g/t Au from 128m (BD6)[4]

Immediate drilling to confirm historic intercepts, with rapid upgrade to JORC resource status.
Active 3[rd] party gold prospectors , assisting resource targeting.
.
Located only 30mins east of Kalgoorlie
NOTE : Historic drill hole assay results sourced from DMIRS, WAMEX Open File reports. For all results, see ARL announcement 24 August 2021 for all background data and Table 1.
TAC-004, 5m at 52.1g/t Au from 15m, in Turley 1997 (A52660), Talon Resources NL Taurus Project, Annual Report for the year ending 13 Sept 1997.
BGRB244, 4m at 9.34g/t Au from 16m, in Archer and Morton 1997 (A51401), Goldfields Exploration Bulong Annual Report 1997.
BERC021, 4m at 6.81g/t Au from 24m, in Brock 2013 (A97363), Southern Gold Limited, Bulong East Project Annual Report 1 Jan 2012 to 31 Dec 2012.
BD6, 10m at 39.1g/t Au from 128m, screened fire assay, in Mazzuchelli 1994 (A41478), Manor Resources NL, Bulong Gold Project Annual Report 1 Jan – 31 Dec 1993

…and new findings.

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5cm
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L e a d p r o j e c t : Bulong Taurus Gold

Active prospectors’ workings[*] at Turnpike continue to produce gold.
Metal-detected nuggets recovered in June 2021 (dish field of view 20cm).
Delicate “filigree” gold morphology indicates proximal source: a nearby reef buried beneath a veneer of eluvials?

Eluvial gold collected from central P25/2295, June 2021. NOTE : KalGold does not own the rights to alluvial or eluvial gold at Taurus. These are presently being worked by a third party. These ongoing works provide valuable information regarding the distributions of gold beneath transported materials. Source: Ardea Resources Limited announcement 24 August 2021.

Proposed Capital Structure*

KalGold IPO to raise up to $12 million before costs.
84 to 109 million shares on offer post raising.
Significant funds to achieve major milestones .
Maximum raise moves towards production by confirming and expanding historic results.
Post-listing Loyalty Options^ to all KalGold shareholders:
1:3 free attaching
To be issued at ~4 months from IPO
Prospectus issued 17 Sept 2021
Trading on ASX by mid Nov 2021 (subject to approvals)

Key Details of the Offers	Minimum raise $7 million	Maximum raise $12 million
Existing Shares	100	100
Shares to be issued under the offer ($0.20 per Share)	35,000,000	60,000,000
In-specie Shares to Ardea holders Bulong Taurus and Ninga Mia Consideration Shares	35,000,000 5,000,000	35,000,000 5,000,000
Ardea Retained Shares	9,000,000	9,000,000
Shares on issue under the offer	84,000,100	109,000,100
Market Capitalisation (post-listing)	$16,800,020	$21,800,020
Cash (post-listing)	$5,780,000	$10,480,000
Enterprise Value (post-listing)	$11,020,020	$11,320,020
Consideration Options (retained by Ardea)#	15,000,000
Joint Lead Manager Options#	Up to 3,000,000
Director and Employee Options#	3,000,000
Total Options on completion of IPO#	21,000,000
Loyalty Options (issued ~4 mths post-listing)	28,000,033	36,333,366

amicaa and MST Joint Lead Managers.

Fully diluted Share capital

Proposed Capital Structure, subject to change and market conditions. ^ Refer to Prospectus for option terms. # Escrowed 2 years

133,000,133 166,333,466

Discovery and Development Strategy

KalGold will utilise its considerable

expertise to accelerate discovery and near development of gold resources Kalgoorlie-Boulder, with fast-tracked . progression to mining

1. Bulong Taurus Gold Project – resource definition, development,

and production

2. Keith Kilkenny Tectonic Zone

– advanced exploration

3. Laverton Tectonic Zone

– advanced exploration

4. Regional Projects

– target generation

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KALGOORLIE-BOULDER
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Exciting Near Term News Flow

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2021 2022 2022 2023
Bulong Taurus Project
Q4 2021 Q1-3 2022 Q4 2022 H1 2023
Drill programs to Drill-out & geological Resource updates,
confirm & extend modelling of drilled metallurgical testwork, Decision to mine
historic high grades projects mining studies
– Geological confirmation through drilling , mapping and validation, and reappraisal of historic drill results at Great Ophir ,
Central , Turnpike , and others
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Remodelling of gold mineralisation, development of JORC resources, metallurgical testwork, mining studies and decision to mine

Other projects

Ongoing assessment through mapping, interpretation, targeting, drilling

Collation, digitisation, and modelling of historic data
Target generation
Confirmation and resource definition drilling

The above timelines are indicative only and are subject to change.

2022 2023

2021 2022

BULONG TAURUS GOLD PROJECT

Lead project mined by prospectors since 1890s
Tenure continuity at the Taurus gold mining centre (first time in decades)
Gold Rights on 39 tenements (M:9, E:1, P:29), all in good standing
35km east of Kalgoorlie on sealed and gravel roads

2cm

Prospects include: Great Ophir, Central, Fremantle, Turnpike and Trafalgar

Eluvial gold from immediately down slope from the historic Taurus Great Ophir gold mine at Bulong. The nugget was retrieved Eluvial gold recovered from neafrom M25/151 near to the F r the Fremantle workings (2021). Source: Ardea Resources Limited announcement 24 August 2021. emantle Workings. Source: Ardea Resources Limited announcement 24 August 2021.

– - Bulong Taurus Gold Fertile Structures

Great Ophir Central

TAURUS MINING Myrhee CENTRE

KalGold’s lead project brings outstanding opportunity and pedigree to surface and near-surface high-grade gold near Kalgoorlie.

BULONG Queen Margaret

GLANDORE

Veined, mineralised and oxidised subordinate structure at Great Ophir

Cannon

MAJESTIC

Goddard Fault controls the gold:

Connects to the Daisy Milano mine, Mt Monger;

Fingals

Major control on Taurus , Glandore , and Mt Monger mining centres;

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WOMBOLA
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MT MONGER

Daisy Milano 1.07Moz @ 13.9g/t Au*

Subordinate structures that branch off the Goddard Fault are preferentially mineralised

* www.silverlakeresources.com.au/projects/resources, 16/09/2021

Exploring Gold Rush Mining Centres

Taurus Gold Mining Centre and battery: established 1896. Almost continuous mining by prospectors since.
Sheeted vein complex at Central, Great Ophir, and other prospects – Intense bleaching* and pyritic vein selvages
Locally coarse gold results in high grade assay results
Vein array complexes provide high ounce-pervertical-metre potential

Great Ophir gold mine Production to 2021

Mined Grade Production (t) (g/t Au) (oz) 4,530 13.5 ~1,960

Source: Independent Technical Assessment Report (Kalgoorlie Gold Mining Limited), Cube Consulting, 2021

Historic workings and infrastructure ruins (battery) at Great Ophir

The open slot and adit to underground workings at Great Ophir, showing the steep southerly dip of mineralisation (looking westsouthwest). All rocks are pervasively altered and veined, and contain common sulphides.

Manor Resources, 1996. WAMEX report A41478

Near Surface High Grade Gold at Great Ophir

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5m at 52.1g/t Au
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Plan of the Great Ophir workings, showing shallow historic drilling (hole name, depth) relative to the linear workings

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High-grade intercepts were not followed up during 1990s drill programs:

~90% ineffective (too shallow & mine cavities)
Most holes targeted shallow alluvial gold
Mineralisation open in all directions

GREAT OPHIR DRILL PROGRAM

Aim: to confirm shallow, high-grade gold mineralisation

Method: inexpensive, shallow (<60m depth) RC drill holes Expected results: to trace gold mineralisation to depth.

– Bulong Taurus Work Programs

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  Fremantle group
Great Ophir
 Trafalgar group

Turnpike  Victoria group
 
Mt Bennett group
Central

Hammersmith group 
Southern
Amersham

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Programs designed, PoWs in place, rigs booked to drill

At Great Ophir and Central , a fast-tracked initial JORC resource will incorporate historic results (where possible), followed by feasibility and potential development.

Great Other Central Turnpike Ophir targets PRIORITY     Historic workings ✓ ✓ ✓ ✓ (1890-1930) Recent eluvial finds ✓ ✓ ✓ (since 2015)

Prospecting and mining

Work programs

RC drilling to confirm ✓ ✓ ✓ historic results Diamond drilling to define ✓ ✓ ✓ controls on mineralisation RC drilling to define/extend ✓ ✓ ✓ deposit footprint Field mapping and sampling ✓ ✓ ✓ ✓

LAVERTON TECTONIC ZONE PROJECT

Recent prospecting success suggests good potential beneath cover

•

Numerous structural targets to test
All Mineral Rights on 4 tenements (E:4), 3 of these pending
130km northeast of Kalgoorlie on sealed and gravel roads
Prospects include: Zelica South, Bar Twenty , several new prospectors’ workings

Recent prospectors’ diggings at Pinjin, Laverton Tectonic Zone Project

– Laverton Tectonic Zone Pinjin West

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ZELICA
(71km)
EDJUDINA
PINJIN
15
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Laverton Tectonic Zone (and Celia TZ)

Southern extent of the LTZ trending south from Laverton and
- Lancefield Gold Mining Centres, to Wallaby and Sunrise Dam
Tenements and applications are adjacent to the historic Pinjin
- and Edjudina Gold Mining Centres
Major shears, major contacts, numerous structural targets under a thin veneer of cover. Little exploration over most targets

Recent resources and exploration adjacent to KalGold’s tenure

 - Indicated and Inferred Resources* at Anglo Saxon/Trouser

    - Legs (2km east)

 - Targets south along strike from Edjudina undrilled.

 - Targets along strike from Apollo’s Lake Rebecca gold

    - discovery.

ASX: HAW announcement, 20 June 2017 , and ASX:HAW announcement, 10 July 2020

– Laverton Tectonic Zone Zelica South

South of main Eucalyptus mining centre

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EUCALYPTUS
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Folds and second-order faults next to the
Celia TZ provide numerous targets
Numerous gold deposits:

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ZELICA
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Zelica (excised) contains 577,000t at 1.63g/t
Au for >30koz (WAMEX A98026, Exterra Resources, 2013). Targeting southern extensions.
Targets south along strike from Zelica open cut gold mine undrilled.

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PINJIN
(68km)
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Banded oxides after sulphides southeast of Bar Twenty

KEITH KILKENNY TECTONIC ZONE PROJECT

Not explored for gold in decades
Inexpensive, targeted re-assaying of archived nickel laterite pulps to lead gold exploration program
Gold Rights on 14 tenements
(M:6, E:5, P:3), 2 Ms pending
135km NNE of Kalgoorlie on sealed and gravel roads
Mining centres:
Aubils, Yerilla, Boyce Creek, Jump Up Dam, Lake Rebecca

Gold potential around nickel laterite pits to be examined at Jump Up Dam

Keith Kilkenny Tectonic Zone Project

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AUBILS
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Gold-fertile Keith-Kilkenny Tectonic Zone is host to Apollo Hill, Carosue Dam, Mulgabbie, and the Breaker Resources Lake Roe discovery.

Cost effective exploration from projects untested for gold (historic nickel focus).

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MT REMARKABLE
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Geological reinterpretation and targeting underway
Re-assay of archived nickel laterite pulps

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JUMP UP DAM
(31km)
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Successful gold discovery programs to be replicated (Ardea’s Goongarrie nickel deposits)

• Aubils

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YERILLA
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BOYCE CK
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Targeting underway, focussed on secondary structures associated with the Keith-Kilkenny Tectonic Zone.
Boyce Ck + Jump Up Dam

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LAKE
REBECCA
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Alluvial gold at Boyce Creek
9.8g/t Au in RAB hole[* ] adjacent to tenure

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JUMP UP
DAM
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• Lake Rebecca

Adjacent historic gold workings
13m at 1.2g/t Au[*] adjacent to tenure

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MULGABBIE
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LAKE REBECCA
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(42km)
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See KalGold Prospectus, www.kalgoldmining.com.au

KALGOORLIE PROJECT

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Projects overlooked and poorly
assessed despite neighbouring one of the richest patches of ground on Earth
New interpretations are defining new targets within walking distance of town
Gold Rights on 7 tenements (E:1, P:6), 1 E and 3 Ps pending
Adjacent to Kalgoorlie on sealed and gravel roads
Gold mining centres: Kalgoorlie, Gidji, Boorara

View southwards from Ninga Mia towards the KCGM Superpit waste dumps.

– On the Golden Mile the Ninga Mia Gold Prospect

Within 6km from the iconic Superpit
Surface workings plus transported cover
Known mineralised geological contact
Common structures with the Golden Mile

Oblique view of Kalgoorlie-Boulder, the Superpit, Mt Percy and Mt Charlotte on the Golden Mile, and KalGold’s Ninga Mia gold project. New ideas will be drill tested, including the first deep drilling for decades.

Gold potential at the Kalgoorlie Project

Altered and veined samples on site at Ninga Mia

Adjacent to the gold-controlling BoulderLefroy Fault and the Bardoc Tectonic Zone.
Ninga Mia project neighbours the Golden Mile, within 6 km of the KCGM Superpit.
Numerous surface workings, gold “specking”

site

Named, mineralised, Golden Mile structures evident in geophysics.
Outcrop shows common gold indicators
including

strong bleaching , ankerite-sericite & fuchsite alteration , zoned quartz veining , & iron oxide gossanous material

Historic anomalism not followed up
KCGM Two-Up deposit (off-tenure) strike
extensions not tested.

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KANOWNA
GIDJI
NINGA MIA
BALAGUNDI
KALGOORLIE-BOULDER
GOLDEN MILE
/BOULDER
LAKEWOOD
BINDULI
BOORARA
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City of Kalgoorlie Boulder

Kalgoorlie-Boulder is WA’s golden heart. It is a centre of world-class infrastructure in an established and prolific mining district:

Established in the 1890s gold rush
Lowest sovereign risk
World-leading workplace practices enshrined in law
All KalGold projects within
2.5 hrs drive, most within 1 hr

View of Hannan St, Kalgoorlie, looking west, City of Kalgoorlie-Boulder

Gas pipeline services to major projects

The main street of Kalgoorlie, Hannan St, looking west, showing late 19th and early 20th Century architecture of the City of KalgoorlieBoulder amongst the open woodlands of the Eastern Goldfields.

– We’ve done it before and will do it again

The KalGold team was responsible for a flurry of gold discoveries within the footprint of Ardea’s KNP Goongarrie nickel hub and granted mining licences.

The team has developed a scientifically robust gold target generation technique, utilising :

Major fault systems and interconnected fault networks
Prone and indicator rock types
Cyclicity
Geochemistry and geophysics

Discovery opportunities arise where these features interact with:

Limited, ineffective, or zero historic exploration
Extensive (though not necessarily deep) transported cover.

Drilling the discovery hole (13 May 2020) at the buried Lily Albany gold prospect at Ardea’s KNP Goongarrie nickel laterite hub. The team that generated the target and discovered this prospect (and many others) will now focus on gold at Bulong Taurus and at and around the many other nickel laterites throughout the Eastern Goldfields.

Ongoing target generation has already identified areas of interest through first-pass investigations. These all require testing.

Board & Management

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Pauline Gately – Chair (Non-Exec)

Ms Gately is an accomplished investment strategist and seasoned director with experience across a portfolio of Board positions. Pauline brings a sharp commercial focus to strategy underpinned by 20-years investment banking experience. Her experience within the resources sector spans acquisitions, exploration, and project development through to production.

Matt Painter – Managing Director and Chief Executive Officer

Dr Painter is a geologist with over 25 years’ experience in the mining industry with groups including Ardea Resources, AngloGold Ashanti, and the Geological Survey of Western Australia. He has worked globally on gold mining, development and exploration projects. Dr Painter was the founding MD of Ardea Resources, overseeing delivery of the pre-feasibility study on the Goongarrie nickel-cobalt laterite project before stepping back to a technical role, targeting and defining a string of gold discoveries.

Carmel McKenzie – Non-Executive Director

Ms McKenzie is a practicing lawyer with mining law focus and principal of legal firm, McKenzie & McKenzie based in Kalgoorlie-Boulder. Ms McKenzie has been advising exploration and mining companies in legal matters for over 25 years.

Andrew Penkethman – Non-Executive Director

Mr Penkethman is a geologist with more than 25 years’ technical and corporate experience with a number of listed public companies from exploration through to discovery, feasibility study management, development and operations within Australia and overseas. Mr Penkethman is the current Managing Director and CEO of Ardea and is Ardea’s nominee director in KalGold.

Scott Herrmann – Exploration Manager

Mr Herrmann is a geologist with 20 years’ experience in exploration, resource development and production roles across a range of different commodities. Mr Herrmann was most recently Senior Project Geologist with an ASX listed WA gold producer with operations located northwest of Kalgoorlie.

The Management Team will be assisted part-time on a cost-reimbursement basis by Ardea Executive Director Ian Buchhorn (two decades of Kalgoorlie gold experience as a Registered Mine Manager and providing contract grade control, as well as three terms as an elected member on the City of Kalgoorlie Boulder council). Data Base Management and Tenement Management will be a 50:50 shared arrangement with Ardea’s DBM and Tenement Manager whose expertise with the KNP data base and tenements is exceptional.

In terms of office location and in view of the initial KalGold exploration focussing on the KNP drill pulp archives and follow-up field work, KalGold will initially share office/warehouse facilities with Ardea’s existing West Kalgoorlie operation.

IPO Transaction Structure


		Sources and Uses of Funds	Minimum Subscription A$ %		Maximum Subscription A$ %
•	Minimum raise of $7.0 million	Total funds raised from the Offer	7,000,000	100.0%	12,000,000	100.0%
	enables portfolio-wide	Allocation of Funds
	exploration to target and define gold mineralisation	Repayment Ardea IPO direct costs	700,000	8.6%	700,000	5.8%
		Payment to unrelated vendor	100,000	1.4%	100,000	0.8%
•	Maximum raise of $12.0 million facilitates more extensive	Fees of the Offer	420,000	6.0%	720,000	6.0%
	exploration of all projects,and	On-ground exploration and drill-outs	4,780,000	68.3%	9,480,000	79.0%
		*Bulong Taurus*
	– Feasibility Studyfor the	Exploration, resource drill-out / estimation	2,390,000	34.1%	2,990,000	24.9%
	Bulong Taurus Gold Project*,	Feasibility study Commence development			2,500,000 1,000,000	20.8% 8.3%
	– Potential development at	*Laverton*Tectonic Zone (exploration)	717,000	10.2%	897,000	7.5%
	Bulong Taurus*, progressing	*Keith-Kilkenny*Tectonic Zone (exploration) *Other projects*	717,000	10.2%	897,000	7.5%
	the project towards production.	(Perrinvale, Kalgoorlie, Pianto South, Davies	956,000	13.7%	1,196,000	10.0%
		Dam)
		Overheads + holding costs	1,000,000	14.3%	1,000,000	8.3%
		Total	$7,000,000	100.0%	$12,000,000	100%

*Subject to exploration results justifying advancement of the project .

Indicative IPO Timetable

Event	Date
Lodgement of Prospectus with ASIC	17 September 2021
Opening Date of the Offers	25 September 2021
Priority Offer Closing Date	8 October 2021
General Offer Closing Date	26 October 2021
Effective Date of Distribution	29 October 2021
Issue of Shares under the Prospectus	2 November 2021
Despatch of holding statements	3 November 2021
Shares commence trading on ASX	12 November 2021

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Note: This timetable is indicative only, and may change. The Company reserves the right to extend the Closing Date or close the Offers early without notice, in its absolute discretion. Quotation of Shares on ASX is at the discretion of ASX and is subject to the Company satisfying the listing requirements of ASX.

L-R: Quartz vein rubble from Bulong Taurus. Eluvial gold recovered from near the Turnpike workings (Source: Ardea Resources Limited announcement 24 August 2021). Geological analysis in the field. Geophysical and gold datasets used in gold targeting at Bulong Taurus.

KalGold Investment Proposition

Regional portfolio

KalGold has an asset portfolio of highly prospective gold tenements in the gold-producing Kalgoorlie region of Western Australia, with 1077km[2] of tenure within 150km of Australia’s premier gold destination, the City of Kalgoorlie-Boulder.

World-leading location

KalGold’s portfolio is strategically located along the same geological structures that host many of Australia’s largest low-cost producing gold mines, notably the Golden Mile/Paddington gold mining centres (Bardoc Tectonic Zone), Carosue Dam (Keith Kilkenny Tectonic Zone) and Sunrise Dam (Laverton Tectonic Zone).
Projects are strategically located , in proximity to key infrastructure
All projects are in established, mine-friendly regions with an accessible and experienced workforce .

Proven team

Western Australian and international gold discovery success.
Demonstrated methodology for discovering hidden gold mineralisation.

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Kalgoorlie Gold Mining Limited

Applications to partake in the KalGold IPO

Applications can be made online via the Automic website from 25 September 2021 .

Select Investors (including all ARL shareholders as at 17 September 2021) are eligible to apply through the Priority Offer by clicking here .
All other investors can apply through the General Offer by clicking here .

For more information, please visit www.kalgoldmining.com.au or call the numbers below.

Matt Painter

Managing Director & CEO T: +61 8 6244 5136 E: [email protected]

Graeme Smith

Company Secretary T: +61 408 447 493 E: [email protected]

AI assistant

ARDEA RESOURCES LIMITED — Investor Presentation 2021

64421_rns_2021-09-22_30cbc71b-25d3-4195-9eb4-ef04a57d47de.pdf

ASX & Media Release

Kalgoorlie Gold Mining IPO Investor Presentation

ASX Symbol