AUKING MINING LIMITED

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ABN 29 070 859 522

(ASX Code: AKN, AKNO)

High grade, wide zones of copper and zinc intersected at Koongie Park and rare earth minerals discovered at Sandiego 4 November 2021

Highlights:

Additional assay results representing both near-surface drilling at Onedin and deeper drilling at Sandiego
Wide zones of high grade copper, zinc, and other mineral intersections, including:

AKN is a resource

exploration and development

company seeking to develop the Koongie Park copper/zinc project in Western Australia.

Hole ASRD002 – 55m of sulphide-rich mineralisation from 467m containing high grade Cu and Zn intersections including

27m @ 1.57% Cu, 0.87% Zn, 0.14% Pb, 9g/t Ag & 600ppm Co from 475m including

9m @ 3.05% Cu, 1.11% Zn, 0.18% Pb, 14g/t Ag &

0.11% Co from 475m and

Issued Capital:

60,289,651 Ordinary shares 17,500,000 Options (30 June 2023 @ 25c each)

Directors:

Dr Mark Elliott Chairman

Peter Tighe Non-Executive Director Ian Hodkinson Non-Executive Director Shizhou Yin Non-Executive Director

Chief Executive Officer:

Paul Williams

Company Secretary:

Paul Marshall

AUKING MINING LTD

Suite 27, Level 7, 320 Adelaide Street BRISBANE Q 4000 Ph: +61 7 3535 1208 E: [email protected]

Contact:

Paul Williams Chief Executive Officer E:[email protected] Mob: +61 419 762 487

22m @ 0.42% Cu, 6.16% Zn, 1.17% Pb, 25g/t Ag & 200ppm Co from 500m

Hole ASRD003 – 65m of sulphide-rich mineralisation from 334m containing high grade Cu and Zn intersections including 20m @ 1.71% Cu, 1.58% Zn, 0.25% Pb, 8g/t Ag and 647ppm Co from 346m

13m @ 0.2% Cu, 5.71% Zn, 1.14% Pb, 27g/t Ag and 135ppm Co from 370m Hole AORC005 – 92m of mineralisation displaying anomalous zinc values (>1,000 ppm Zn) Hole AORC006 – 113m of mineralisation displaying anomalous zinc values (>1,000 ppm Zn) Hole AOWB01 - 50m of mineralisation displaying anomalous zinc values (>1,000 ppm Zn)  Identified elevated zones of REE lanthanides (>1,000ppm) in Sandiego drill holes ASRD002 and ASRD003

Further cobalt mineralisation identified in both the Sandiego drill holes ASRD002 and ASRD003
7,500m combined RC and diamond drill program ~ 65% complete. Drilling to continue into November/early December, with ongoing assays reported until the end of year

Wide zones of copper and zinc intersected at Koongie Park; Rare earths discovered at Sandiego 4 November 2021

Further strong intersections of copper, zinc and other mineralisation from second series of drilling results

AuKing Mining Limited (“AKN” or “the Company”) is pleased to advise that it has received the second batch of assay results received from six (6) drill holes as part of the initial drilling program at Koongie Park. These holes were a combination of reverse circulation (RC) drillholes at the Onedin deposit and two deep diamond drill holes at Sandiego. (See Figures 1 and 2 for drill hole locations). These drill holes were a combination of exploration holes and water bores.

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Figures 1 and 2 – Onedin and Sandiego drill hole locations

Results overview

Significant intervals from the second batch of drill holes at Koongie Park are as follows:

Hole ASRD002

(Deep hole (620m) at Sandiego)

3m @ 1.32% Cu, 0.21% Zn, 0.02% Pb, 3g/t Ag & 100ppm Co from 464m
8.5m @ 0.13% Cu, 4.24% Zn, 0.21% Pb & 2g/t Ag from 467m

27m @ 1.57% Cu, 0.87% Zn, 0.14% Pb, 9g/t Ag & 600ppm Co from 475m including 9m @ 3.05% Cu, 1.11% Zn, 0.18% Pb, 14g/t Ag & 0.11% Co from 475m

22m @ 0.42% Cu, 6.16% Zn, 1.17% Pb, 25g/t Ag & 200ppm Co from 500m and 5m @ 0.63% Cu, 6.93% Zn, 0.82% Pb, 16g/t Ag & 300ppm Co from 514m

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Wide zones of copper and zinc intersected at Koongie Park; Rare earths discovered at Sandiego 4 November 2021

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Figure 3 – Sandiego Cross-section 1040N (holes ASRD002/ ASRD003)

This hole was a deep exploration hole designed to test and confirm the existence of mineralisation in this section of the Sandiego deposit. The results highlight 55m of sulphiderich mineralisation from 467m downhole depth. This drill hole intersected mineralisation below ASRD003 and near to other drill holes from previous exploration programs and provides significant confidence in the ability to extend the mineralised zone at Sandiego to greater depths. Key features of this hole include:

High grade zones of copper and zinc mineralisation across the sulphide zone;

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Wide zones of copper and zinc intersected at Koongie Park; Rare earths discovered at Sandiego 4 November 2021

Confirms the significant extension of high-grade copper and zinc sulphide mineralisation below ASRD003 as also identified in previous drilling;
Significant grades of cobalt, confirming the presence of Co in the Sandiego deposit (refer ASX announcement on 19 October 2021); and
Identified the presence of anomalous grades of lanthanide group rare earth elements (REEs) lanthanum (La) and cerium (Ce) up to 4000ppm. See later section for commentary about this discovery.

Hole ASRD003

(Deep hole (436m) at Sandiego)

20m @ 1.71% Cu, 1.58% Zn, 0.25% Pb, 8g/t Ag and 674ppm Co from 346m 13m @ 0.2% Cu, 5.71% Zn, 1.14% Pb, 27g/t Ag & 135ppm Co from 370m and 6m @ 0.43% Cu, 4.51% Zn, 0.79% Pb, 22g/t Ag & 136ppm Co from 389m

This hole was drilled as a deep exploration hole designed to test and confirm the existence of mineralisation in this section of the Sandiego deposit. The results show 65m of sulphide-rich mineralisation from 334m downhole depth. This drill hole intersected mineralisation above ASRD003 and near to other drill holes from previous exploration programs. Key features of this hole include:

High grade zones of copper and zinc mineralisation across the sulphide zone;
Confirms a significant extent of high grade copper and zinc sulphide mineralisation as also identified in previous drilling;
Significant grades of cobalt, confirming the presence of Co in the Sandiego deposit (refer ASX announcement on 19 October 2021); and
Further identified the presence of anomalous grades of lanthide group rare earth elements (REEs) lanthanum (La) and cerium (Ce) up to 4000ppm, as was the case with ASRD002. See later section for commentary about this discovery.

Hole AORC005

(RC drill hole (168m depth) at Onedin)

20m @ 0.26% Cu, 0.37% Zn, 0.19% Pb & 0.68g/t Ag from 86m 4m @ 0.13% Cu, 0.81% Zn, 0.82% Pb & 2.04g/t Ag from 145m

This drillhole was collared in the northern edge of the known Onedin mineralised zone and then drilled back towards the south-east. RC drilling concluded at 168m and is now being extended with the diamond core drilling rig – targeting deeper zones underneath AOWB03 which showed 124m of 1.03% Cu, 1.08% Zn and 1.54% Pb (refer ASX announcement on 4 October 2021). Assay results for this drill hole established a 92m continuous mineralized zone displaying anomalous zinc values (>1,000 ppm Zn).

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Wide zones of copper and zinc intersected at Koongie Park; Rare earths discovered at Sandiego 4 November 2021

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Figure 4 – Onedin Cross-section 20040N (holes AORC005/ AOWB03)

Hole AORC006

(RC drill hole (178m depth) at Onedin)
8m @ 0.21% Cu & 0.58% Zn from 15m 21m @ 0.28% Cu & 0.70% Zn from 45m and 17m @ 0.28% Cu & 0.70% Zn from 98m

This drillhole was collared in the south-eastern edge of the known Onedin mineralized zone and then drilled back towards the south-east. RC drilling concluded at 178m. Assay results for this drill hole established a 113m continuous mineralized zone displaying anomalous zinc values (>1,000 ppm Zn).

Hole AOWB01

(Water bore hole (114m deep) at Onedin) 8m @ 0.12% Cu & 0.39% Zn from 83m
9m @ 0.18% Cu & 1.51% Zn from 105m and
6m @ 0.17% Cu & 2.03% Zn from 106m

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Wide zones of copper and zinc intersected at Koongie Park; Rare earths discovered at Sandiego 4 November 2021

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Figure 5 – Onedin Cross-section 19890N (holes AORC006 and AOWB01)

This proposed water bore drill hole was located at the south-eastern end of the known Onedin mineralised zone. The mineralisation also dips downwards to the south-west and the presence of higher-grade intercepts towards the bottom of this hole is consistent with the Onedin resource model. Significantly, the assay results identified a 50m continuous mineralised zone displaying anomalous zinc values at >1,000ppm Zn from 64m below surface.

Hole AOWB02

(Water bore hole (120m deep) at Onedin) No significant mineralisation was detected in these assays

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Wide zones of copper and zinc intersected at Koongie Park; Rare earths discovered at Sandiego 4 November 2021

Discovery of rare earths at Sandiego

Elevated rare earth values have been reported from portable x-ray fluorescence (pXRF) scans run on pre-collar RC chip samples at Sandiego. In hole ASRC002, a shallow downhole interval of 17m from 9m shows an average grade of 0.40% combined

cerium+lanthanum+neodymium+praseodymium (Ce+La+Nd+Pr). This highly anomalous zone coincides with an iron rich gossanous unit which is interpreted to be the up-dip, weathered extension of the Sandiego Cu-Zn mineralised zone. The suggestion that elevated rare earth element (REE) group values are present within the Sandiego mineralised zone is also supported by recently received analyses from deeper diamond core sampling in hole ASRD03 (reported in this release) which indicate several intervals, again in close proximity to the Cu-Zn mineralisation, with elevated combined Ce+La grades of up to 0.51% over 1m (interval 358359m).

AuKing is encouraged by the confirmed presence of lanthanide group elements within the Sandiego mineralised zone and is planning to undertake confirmatory sampling and analytical work to determine the full extent of the REE mineralisation.

The existence of REEs at Koongie Park is not entirely unexpected, given the established operations of other companies in the Halls Creek region including Northern Minerals’ Browns Range project (160kms south-east of Halls Creek), Red Mountain’s Mt Mansbridge project (140kms south-east of Halls Creek), and Rarex’s Cummins Range project (130kms south-west of Halls Creek).

Confirmation of further cobalt at Sandiego

As previously advised (refer ASX announcement on 19 October 2021) significant reported cobalt intersections from previous drilling activities carried out by Anglo Australian Resources in 2009/2010 have highlighted the presence of cobalt at the Sandiego project. The results from AKN’s existing drilling program at holes ASRD002 and ASRD003 have confirmed the existence of cobalt mineralisation, as highlighted above. The potential inclusion of cobalt mineralisation in future Koongie Park resource estimates will continue to be assessed by AKN’s exploration team.

Drilling results summary

The results from AKN’s second batch of drill holes at Koongie Par have continued to exceed the AKN Board’s expectations. Highlights include:

Two deep holes at Sandiego have intersected significant zones of sulphide mineralisation that contain high grade copper and zinc intersections. These holes establish an extension of previously known mineralisation in this section of the Sandiego deposit and provide the basis for even deeper drilling to assess further resource extensions;
The drill holes at Onedin have identified anomalous zones of continuous mineralisation across different areas around the deposit;
Assays from holes ASRD002 and ASRD003 at Sandiego have identified anomalous zones of REEs such as lanthanum and cerium. These assays, in turn, were consistent with anomalous pXRF readings for neodymium and praseodymium. These results warrant further assessment and review; and
Cobalt continues to be identified in drill holes at Sandiego.

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Wide zones of copper and zinc intersected at Koongie Park; Rare earths discovered at Sandiego 4 November 2021

Gold assays

On 4 October 2021 AKN announced to ASX assay results from the first five drill holes conducted at Onedin. Samples from those holes were subsequently assayed for Au (gold). While anomalous zones of Au were identified, there were no significant results to report.

Koongie Park drilling program update

AKN continues to make pleasing progress with the current drilling program, with more than 4,800m having been drilled to date. The focus is now currently on the extraction of diamond core samples from various drill holes in the Onedin mineralised zone. These samples will be prepared for the metallurgical testwork program later in the year. This drilling activity will run through most of November with assay results likely at the end of that month.

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Figure 6 – Diamond core samples from ASRD003 at 355m

The drilling program has the following objectives:

Infill drilling at the highly prospective Onedin and Sandiego deposits to improve geological interpretation and resource confidence;
Test potential mineralised extensions, especially at depth;
Obtain fresh samples for further metallurgical testwork – especially from the near-surface oxide and transition ores at Onedin;

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Wide zones of copper and zinc intersected at Koongie Park; Rare earths discovered at Sandiego 4 November 2021

Enhance confidence and geological understanding of the extensive amount of previous drilling and exploration data;
Obtain other technical data including geotechnical information and density data; and
Equip most drill holes for follow-up downhole geophysics to assist in identifying possible off-hole conductors for future drill hole targeting.

Management Commentary

AKN Chief Executive Officer, Paul Williams said “These second assay results from drilling at Koongie Park have exceeded the Company’s expectations and build on the initial results reported last month. The two deeper holes at Sandiego both intersected wide, high-grade zones of mineralisation and provides a strong foundation for even deeper drilling to assess a larger resource extension.

“The Company has also identified significant cobalt and rare earth mineralisation, which warrants further assessment from our exploration team. Drilling is ongoing, with an additional 2,700m planned over the coming weeks. We look forward to providing further assay results shortly.”

Koongie Park copper/zinc project overview

Koongie Park is situated in north-eastern Western Australia in the highly mineralised Halls Creek region. The Koongie Park project comprises 10 licences (two mining and eight exploration) covering an area of over 500km[2] . The asset has existing JORC 2012 resources of 6.8Mt at 1.3% Cu, 4.1% Zn, 0.3g/t Au and 26g/t Ag* .

[* See full resources table at the end of this Release and CSA Global Independent Report, AKN Prospectus dated 9 March 2021 ]

Koongie Park remains significantly under explored at depth and along strike and highly prospective for further VMS base metal mineralisation discoveries in the tenement package. The Company has identified multiple drill targets to expand on the existing known resources at both the Sandiego and Onedin deposits. Both deposits remain open at depth and to the south.

Koongie Park Earn-in

In February 2021, AKN entered into an earn-in and joint venture agreement (“JVA”) with Anglo Australian Resources NL providing AKN with the right to earn up to a 75% interest in the Koongie Park project by completing exploration expenditure of $3m over a 3-year period. This expenditure is in addition to the $1m already paid by AKN to secure an initial 25% interest in the JV. The JVA commenced on 15 June 2021 upon AKN’s re-quotation on the ASX.

ENDS

This announcement is authorised by:

Paul Williams Chief Executive Officer [email protected] +61 419 762 487

Released through: Henry Jordan, Six Degrees Investor Relations, +61 431271 538

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Wide zones of copper and zinc intersected at Koongie Park; Rare earths discovered at Sandiego 4 November 2021

Competent Persons’ Statement

The information in this report that relates to historic exploration results at the Koongie Park Project is based on information compiled by Mr Ian Hodkinson who is a member of the Australian Institute of Geoscientists and the Society for Geology Applied to Mineral Deposits. Mr Hodkinson is a nonexecutive director of AuKing Mining Limited and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration 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.’ Mr Hodkinson consents to the inclusion in the 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 Koongie Park Project is based on information compiled by Mr David Williams who is a member of the Australian Institute of Geoscientists. Mr Williams is a Principal Consultant Geologist (Brisbane) of CSA Global and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration 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.’ Mr Williams consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

The information relating to the Mineral Resources at the Koongie Park copper/zinc project is extracted from the Independent Technical Report of CSA Global (the CSA Global Report), which is included in the Company’s Prospectus dated 9 March 2021 and which was lodged with ASX on 10 March 2021.

The report is available to view on the AKN website www.aukingmining.com. The report was issued in accordance with the 2012 Edition of the JORC Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources or Ore Reserves that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement 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 announcement.

APPENDIX 1 – Koongie Park Resource Estimate

In the CSA Global Independent Technical Report, a full combined Mineral resource estimate for the Koongie Park project deposits is as follows:

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[Note: CSA Global cautions that the two deposits and three oxidation zones have different metallurgical

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Wide zones of copper and zinc intersected at Koongie Park; Rare earths discovered at Sandiego 4 November 2021

properties and/or cut-off grades, and this needs to be considered when assessing the combined totals]

APPENDIX 2 – Drill Collar Details

Hole No.	MGA52	MGA52	RL (m)	Hole Depth	Hole Dip	Azimuth	Drill Type
	Easting	Northing		(m)	(°)	MGA(°)
AOWB01	345617	7973424	445	114	-90	0	RC
AOWB02	345813	7973635	445	120	-90	0	RC
AORC005	345671	7973630	445	168	-70	140	RC
AORC006	345598	7973465	445	278	-60	140	RC
ASRD002A	340034	7968217	418	621.5	-60	293	RC/Diamond
ASRD003	339957	7968247	418	436.5	-65	293	RC/Diamond

APPENDIX 3 – Drillhole Intersections

(Significant intersection summary at greater than 0.10% Cu cut-off grade. Selected higher grade intervals shown at a 0.5% Cu cut-off grade (predominant Cu zones) and 2% Zn cut-off grade (predominant Zn zones)

Hole No.	From (m)	To (m)	Width (m)	Cu %	Zn %	Pb %	Ag g/t	Co ppm
AOWB01	83	91	8	0.12	0.39	NSR	NSR	NSR
	105	114	9	0.18	1.51	NSR	NSR	NSR
	106	112	6	0.17	2.03	NSR	NSR	NSR
AOWB02	-	-	-	NSR	NSR	NSR	NSR	NSR
AORC005	148	168	20	1.50	5.80	0.91	102	NSR
including	151	158	7	3.36	6.77	0.11	148	NSR
AORC006	15	23	8	0.21	0.58	0.04	1	NSR
	45	66	21	0.28	0.70	0.03	8	NSR
	72	81	9	0.13	1.20	0.03	2	NSR
	98	115	17	0.28	0.70	0.03	8	NSR
	216	225	9	0.13	1.71	0.12	6	NSR
including	219	222	3	0.09	2.53	0.02	3	NSR
ASRD002	459.3	460.54	1.24	1.25	0.05	0.02	2	100
	464	467.1	3.1	1.32	0.21	0.02	3	100
	467.1	475.6	8.5	0.13	4.24	0.21	2	NSR
	475.6	502.85	27.25	1.57	0.87	0.14	9	600
including	475.6	484.6	9	3.05	1.11	0.18	14	1100
	500.25	522.75	22.5	0.42	6.16	1.17	25	200
including	514	519	5	0.63	6.93	0.82	16	300
ASRD003	346.45	366.92	20.47	1.71	1.58	0.25	8	674
	370	383	13	0.2	5.71	1.14	27	135
	389	395	6	0.43	4.51	0.79	22	136

“NSR” denotes no significant results

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	Appendix 4 - JORC Code, 2012 Edition – Onedin RC & Sandiego RC & Diamond Drilling Results Section 1 Sampling Techniques and Data (Criteria in this section applyto all succeedingsections.) Criteria JORC Code explanation Commentary Sampling techniques • Nature and quality of sampling (e.g., 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 (e.g., ‘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 (e.g., submarine nodules) may warrant disclosure of detailed information. • Both the Onedin and Sandiego deposits have been previously drilled and sampled by several previous exploration groups using both reverse circulation (RC) and diamond drilling techniques. • RC drilling at both sites was used to obtain individual 1 m samples, which were reduced in size to produce a sample of approximately 1–2 kg in weight, which were ticketed prior to dispatch to the analytical laboratory pulverised to produce a pulp sample for fire assay and base metal analyses. • RC sampling intervals were previously commonly composited to reduce assay costing in areas of limited mineralisation potential prior to assaying. • The RC drilling results reviewed in the accompanying release were obtained entirely by RC drilling with the sample return reporting to a cyclone and cone splitter. Sampling has been done on a single metre by metre basis. • In zones with limited potential for mineralisation the samples have again been composited into 4-metre intervals which, on receipt of elevated results, may lead to the composite interval being subsequently resampled by the spearing method on an individual 1-metre basis. • The deeper drilling at Sandiego has been undertaken by HQ and NQ diamond drilling and NQ core samples from mineralised intervals at Sandiego were cut by diamond saw prior to submission as half-core samples to the analytical laboratory. Drilling techniques • Drill type (e.g., core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g., core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type,whether core is oriented and if so,by • The RC drilling reported herein for Onedin and Sandiego is RC drilling using a 140mm diameter face-sampling bit. • The deeper drilling at Sandiego has been undertaken by HQ and NQ sized diamond drilling tails after RC drilling (140mm diameter) of the upper part of the drill hole.
	Criteria JORC Code explanation Commentary
	Sampling techniques • Nature and quality of sampling (e.g., 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 (e.g., ‘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 (e.g., submarine nodules) may warrant disclosure of detailed information. • Both the Onedin and Sandiego deposits have been previously drilled and sampled by several previous exploration groups using both reverse circulation (RC) and diamond drilling techniques. • RC drilling at both sites was used to obtain individual 1 m samples, which were reduced in size to produce a sample of approximately 1–2 kg in weight, which were ticketed prior to dispatch to the analytical laboratory pulverised to produce a pulp sample for fire assay and base metal analyses. • RC sampling intervals were previously commonly composited to reduce assay costing in areas of limited mineralisation potential prior to assaying. • The RC drilling results reviewed in the accompanying release were obtained entirely by RC drilling with the sample return reporting to a cyclone and cone splitter. Sampling has been done on a single metre by metre basis. • In zones with limited potential for mineralisation the samples have again been composited into 4-metre intervals which, on receipt of elevated results, may lead to the composite interval being subsequently resampled by the spearing method on an individual 1-metre basis. • The deeper drilling at Sandiego has been undertaken by HQ and NQ diamond drilling and NQ core samples from mineralised intervals at Sandiego were cut by diamond saw prior to submission as half-core samples to the analytical laboratory.
	Drilling techniques • Drill type (e.g., core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g., core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type,whether core is oriented and if so,by • The RC drilling reported herein for Onedin and Sandiego is RC drilling using a 140mm diameter face-sampling bit. • The deeper drilling at Sandiego has been undertaken by HQ and NQ sized diamond drilling tails after RC drilling (140mm diameter) of the upper part of the drill hole.

what method, etc).

Previously, HQ holes were used for metallurgical test-work and NQ holes were used to support the Mineral Resource estimates established by CSA Global for both Sandiego and Onedin.
Previous drilling conducted at Onedin (including the previous ASX release) is as per the table below.

Hole Type	No. of Holes	Drill Metres
Diamond	28	7,682.5
Percussion	17	1,018
RAB	39	326
RC	40	4,705
RC/diamond tail	22	5,790.3
TOTAL	138	18,809.9

Previous drilling conducted at Sandiego is as per the table below.

Hole Type	No. of Holes	Drill Metres
Diamond	29	6,802.4
Percussion	5	321
RC	50	7,198
RC/diamond tail	37	11,528
TOTAL	121	25,849.4

The Competent Person considers the current drilling techniques to be appropriate for the mineralisation style.

		•	The Competent Person considers the current drilling techniques to be appropriate for the mineralisation style.
Drill sample	• Method of recording and assessing core and chip	•	RC samples from previous drilling programmes were visually assessed, and an
recovery	sample recoveries and results assessed.		assessment made according to the sample recovery, usually 100%.
	• Measures taken to maximise sample recovery and ensure representative nature of the samples.	•	Previous diamond core recovery was also generally very good.
	• Whether a relationshipexists between sample

	recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. • With high reported recovery levels, the relationship between recovery and grade has not been an issue. • Where excessive water inflow causes sampling issues and poor recoveries, this is noted during the logging process. • The current programme is generating cone-split samples collected by a cyclone and recoveries have generally been excellent. • The Competent Person considers the reported level of sample recovery on the current programme to be appropriate for the style of mineralisation.
	Logging • Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. • The total length and percentage of the relevant intersections logged. • Previous RC chip samples were routinely geologically logged to a level suitable for defining the general geological features including lithology, mineralisation, alteration etc. • All diamond drill core sampled up to 2006 was relogged by a single, experienced geologist to ensure consistency in the geological logging. The same geological logging template was used for subsequent diamond drilling up to 2010. • The latest diamond drill core logging process uses a revised approach, based largely on a series of data recording procedures developed by Newexco Exploration consultants, and considered to be an industry standard approach. • The current RC drill holes are being logged to record the same suite of information as before with the entire length of the holes being logged. • The Competent Person considers the geological logging procedures in use for both RC and diamond drilling to be appropriate for the style of mineralisation and to a level of details sufficient for preparation of subsequent mineral resource estimates.
	Sub-sampling techniques and sample preparation • If core, whether cut or sawn and whether quarter, half or all core taken. • If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. • For all sample types, the nature, quality and appropriateness of the sample preparation technique. • Quality control procedures adopted for all sub- • RC samples are cone split. An analytical portion is collected in a calico bag while the bulk of the sample reports to a large plastic bag for retention and possible later re- sampling. Any wet samples are speared. • Composited samples (generally representing 4m of drilling) and individual 1m samples (averaging ~1.8kg) are sent to a commercial laboratory for analysis. • Duplicate samples are being collected for analysis on an approximately 1 in 50 basis. • The samplingmethod utilised in the current RC drilling programme and thequality

	sampling stages to maximise representivity of samples. • 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 of the material being sampled. of the sub-sampling are considered to be equivalent to the current industry standard. • The sample sizes submitted for analysis is considered to be appropriate for the mineralisation grain size, texture and style. • Diamond core was cut in half using a diamond saw, with one half of the sample bagged for transportation to the analytical laboratory.
	Quality of assay data and laboratory tests • The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. • For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. • Nature of quality control procedures adopted (e.g., standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established. • Analytical work on the samples from both the RC and diamond drilling programmes reviewed in this release has been undertaken by Jinning Testing and Inspection, Canning Vale, Perth, WA. • The received RC sample is riffle split (if >3.5Kg) and pulverised in a ring grinder to 80% passing 75µm. • Core samples are crushed to nominal -10mm size before being riffle split and pulverised as per the RC samples. • A multi-element analytical suite is assayed for using a mixed acid digest on a 0.2gm charge that involves the use of nitric, perchloric and hydrofluoric acids in the attack. Dissolution is then achieved using hydrochloric acid. The use of hydrofluoric acid ensures the breakdown of silicate minerals. Although the digest approaches total dissolution of the sample there can be undissolved material encountered. Analyses are performed via ICP-OES to a range of detection limits. • The following elements are currently being analysed for (detection limits in parentheses, as ppm unless otherwise indicated): Ag (1); Al (0.01%);As (2); Ba (1); Be (0.5, Bi (5); Ca (0.01%); Cd (1); Ce (5); Co (1); Cr (2); Cu (1); Fe (0.01%); Ga (10); K (0.01%); La (2); Mg (0.01%); Mn (1); Mo (2); Na (0.005%); Ni (1); P (20); Pb (2); S (20); Sb (5); Sc (1); Sr (1); Th (10); Ti (5); Tl (20); U (20); V (1); W (5); Y (1) and Zn (1). • The balance of the pulp sample is stored pending additional analytical work being required. • On receipt of the initial results and pending review, Au analyses by 30gm charge fire assay will generally be undertaken at Jinning’s or another laboratory. • AuKing Mining Limited (“AKN”) inserts a range of QAQC samples into the sample sequence to assess laboratory prepand analyticalpractices andquality. A barren

	rock blank and a number of certified reference materials (CRMs or standards) are inserted into the sample sequence on an approximately 1 in 10 basis. • The laboratory also includes a number of blanks and internal CRMs on an approximately 1 in 25 basis as internal QAQC checks. These results are also reported. • The results seen to date indicate that there are no concerns with the quality of analyses reported. • The Competent Person considers that the level of QAQC being applied gives confidence in the accuracy and precision of the results being received form Jinning. • Reference is made to pXRF analyses of rare earth elements (REE) which have been obtained with an Olympus Vanta pXRF instrument. These results are considered preliminary and subject to confirmation by suitable analytical methods at a commercial laboratory.
	Verification of sampling and assaying • The verification of significant intersections by either independent or alternative company personnel. • The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Discuss any adjustment to assay data. • The grade of significant intersections has been verified by other senior geological personnel associated with the project. • Twinned drilling has not yet been undertaken. • The drilling database is currently managed by Newexco Exploration, a Perth based exploration consultancy group. All drilling data resides on their NXDB database management system. Newexco is responsible for uploading all analytical and other drilling data and producing audited downloaded data for use in various mining software packages. The NXDB system has stringent data entry validation routines. • AKN is proposing to undertake check analytical work on a number of key mineralised intersections at a second commercial laboratory in due course. • No adjustments have been made to any of the received analytical data.
	Location of data points • Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. • Specification of the grid system used. • Quality and adequacy of topographic control. • Local exploration grids were previously established at Onedin and Sandiego and remain in use for reporting purposes. Detailed survey work has previously cross- referenced the local grids to the Zone 52 MGA coordinate system. • Anglo Australian Resources NL (“AAR”) previously obtained photogrammetric coverage of the tenement areas which gives good control in respect of elevation data.

	• Proposed drill hole locations have been set out for the current programme using MGA 52 co-ordinates translated from local grid co-ordinates. • It is envisaged that a DGPS survey, or similar, will be undertaken on completion of the programme to obtain more accurate location details. • Set-up collar azimuths and inclinations have been established using a compass and clinometer. • Downhole survey details have been obtained using a north-seeking gyroscopic survey tool approximately every 30m down the hole.
	Data spacing and distribution • Data spacing for reporting of Exploration Results. • Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. • Whether sample compositing has been applied. • The previous drillhole section spacing at Onedin is approximately 40m. • On section spacing at Onedin is approximately between 40m and 50m. This spacing is considered generally adequate for a reasonable assessment of grade continuity between holes • The current drilling programme at Onedin is primarily intended to infill drill the intervening undrilled 20m section spacings. The planned 20m section spacing will give considerable confidence in the grade continuity with a view to increasing confidence in any subsequent mineral resource estimate. On section spacing for this programme will be of the order of 40m and 50m. • The previous drillhole section spacing at Sandiego is approximately 25 to 50m along strike. • On section spacing at Onedin is approximately between 25m. This spacing is considered generally adequate for a reasonable assessment of grade continuity between holes • The current drilling programme at Sandiego is primarily intended to infill drill the deposit in depth thereby improving confidence in the grade continuity with a view to increasing confidence in any subsequent mineral resource estimate. On section spacing for this programme will be of the order of 40m and 50m. • Limited sample compositing has been undertaken to 4m drill lengths in less obviously mineralised zones. Any significant mineralisation identified in these composites will prompt a resampling exercise on the individual contributing samples.


• All intervals reported are length weighted composites.
Orientation of data in relation to geological structure • Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. • If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. • The orientation of both RC and diamond drillholes at both Onedin and Sandiego is orthogonal to the perceived strike of mineralisation and limits the amount of geological bias in drill sampling as much as possible. • The reported water bores at Onedin (AOWB001 and AOWB002) are vertical drill holes and thus less suitably orientated with respect to the mineralisation but nevertheless provides valuable detail on the weathering profile and continuity of mineralisation in that dimension. • The orientation of drillholes with respect to the attitude of the lithologies and/or structures hosting mineralisation is deemed sufficient to support the reporting of future Mineral Resource estimates.
Sample security • The measures taken to ensure sample security. • Following the RC sampling procedures carried out at the drill site, the samples are transported by AKN personnel to the project sample yard in Halls Creek. • Diamond core samples are transported from the drill rig to the project sample yard at Halls Creek where they are cut and bagged for despatch. • All samples were placed in large poly-weave bags for road transportation to the analytical laboratory in Perth by a local transportation service. • The Competent Person considers the security of sample data through the sampling and analytical processes to be adequate to support the public release of drill results and, in due course, the reporting of the Mineral Resources.
Audits or reviews • The results of any audits or reviews of sampling techniques and data. • All historical drill samples were geologically relogged in 2006 by CSA Global personnel, to remove the inconsistencies in logging which had been noted by AAR personnel. • No audits or reviews are understood to have been carried out for any of the previous sampling programmes. • The results being reported represent ongoing sampling for the RC and diamond drilling programmes. Duplicate sampling of RC samples is being undertaken during this programme and a suite of QAQC samples are being submitted with each analytical batch. • The Competent Person considers that an adequate level ofQAQC is currentlybeing

	undertaken.
	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. • Onedin is located wholly within M80/277. Sandiego is located within M80/276. The Mining Leases are located 17km and 25km southwest of Halls Creek township respectively, near the Great Northern Highway and 312km south-southwest of Kununurra, WA. • The tenements are in good standing. • AKN’s joint venture with AAR in respect of the group of tenures called “Koongie Park” commenced in June 2021. The primary mineral assets, the Onedin and Sandiego copper-zinc-gold-silver deposits lie within the granted mining leases M80/277 and M80/276 respectively. These tenures expire in 2031. • Both mining licences M80/277 and M80/276 were granted in 1989 and therefore prior to the Native Title Act 1993 (“NTA”). The Koongie-Elvire Native Title Claim WC 1999/040 was also registered after grant of the mining licences and they are not subject to the future act provisions under the NTA.
	Exploration done by other parties • Acknowledgment and appraisal of exploration by other parties. • Numerous companies have explored within the tenement area, primarily focusing on the discovery of a significant stratabound lead-zinc system with volcanogenic affinities. • All exploration is considered to have been completed to a reasonable standard by experienced companies in a professional manner. Most exploration work has been appropriate but there are minor issues with inadequate historic documentation. • The Koongie Park project area has been explored for base and precious metals on an intermittent basis since 1972. • 1972–1977 - Kennecott pegged tenements over known copper-lead-zinc-silver gossans as part of its Gordon Downs 3 project. Work included geological and structural mapping, rock chip and soil sampling, diamond and percussion drilling. This work outlined significant base metal mineralisation hosted bychert,banded

	iron formations and carbonate-rich assemblages at Onedin, Sandiego, Hanging Tree
	and Gosford.
•	1972–1977 - Kennecott pegged tenements over known copper-lead-zinc-silver
	gossans as part of its Gordon Downs 3 project. Work included geological and
	structural mapping, rock chip and soil sampling, diamond and percussion drilling.
	This work outlined significant base metal mineralisation hosted by chert, banded
	iron formations and carbonate-rich assemblages at Onedin, Sandiego, Hanging Tree
	and Gosford. Drilling immediately followed at these four prospects, with 29 RC
	holes with diamond tails, with the most significant deposit defined from this work
	at Sandiego.

	This work outlined significant base metal mineralisation hosted by chert, banded iron formations and carbonate-rich assemblages at Onedin, Sandiego, Hanging Tree and Gosford. Drilling immediately followed at these four prospects, with 29 RC holes with diamond tails, with the most significant deposit defined from this work at Sandiego.
•	1978–1979 - Newmont continued testing the known mineralisation, using
	extensive trenching, percussion and diamond drilling, detailed geophysics including
	ground magnetic surveys and low-level aeromagnetic surveys, which failed to
	locate significant extensions of the mineralisation in the known prospects.
•	1980 - North Broken Hill concentrated on testing the supergene enriched zone at
	the base at Sandiego.
•	1983–1988 - Asarco Australia Ltd carried out RAB drilling in the Mimosa sub-
	member, along strike of the known mineralisation, locating several significant
	geochemical anomalies, although not of sufficient grade to support a Mineral
	Resource estimate. The drilling was to fixed depth and only the bottom of the hole
	was sampled.

•	1983–1988 - Asarco Australia Ltd carried out RAB drilling in the Mimosa sub- member, along strike of the known mineralisation, locating several significant geochemical anomalies, although not of sufficient grade to support a Mineral Resource estimate. The drilling was to fixed depth and only the bottom of the hole was sampled.
•	Asarco also completed limited work on the supergene gold and base metal
	potential at Sandiego. This work indicated a resource at Sandiego of 0.33 Mt of
	supergene ore at 6.7% Cu and 288 g/t Ag and 4.3 Mt of primary ore grading 0.5%
	Cu, 0.8% Pb, 7.9% Zn and 31 g/t Ag.
•	Limited testing was undertaken for gold in the sulphide deposits.
•	1988–1989 - BP Minerals and RTZ Mining went into a joint venture (JV) with Asarco
	and continued testing the gold potential by re-assaying split core samples for gold,
	which did not identify any significant base metal mineralisation. RTZ Mining sold
	the property to AAR in 1989.
•	1989–1994 - Billiton Australia and AAR identified extensions of known
	mineralisation at Onedin. Billiton carried out a broad-based exploration

	programme including limited RC and diamond drilling. A grade-tonnage estimate for the Onedin was prepared, for 1 Mt @ 11% Zn, 1% Cu and 1% Pb. • 1995–2002 - Lachlan Resources and AAR concentrated on identifying shallow resources at Sandiego and Onedin with percussion and diamond drilling programmes. Two polygonal Mineral Resources were estimated for Sandiego in 1996 and 1997. • AAR was sole tenure holder of the properties between 2002 and 2020. AAR drilled 245 RC and diamond drillholes encompassing 50,417m, focusing on Mineral Resource, metallurgical and geotechnical drilling at the Sandiego and Onedin base metal deposits. Since 2011, AAR has focused on gold exploration, with little exploration for base metals occurring on the property. AAR reported Mineral Resources for Onedin in 2006, 2008 and 2009. • The Competent Person considers the historical work undertaken incrementally over time has built up an understanding of the geological characteristics of the deposit, and all historical work provides useful information. • 2021 – AKN’s Joint Venture Agreement with AAR commenced in June 2021 and AKN assumed management and control of the exploration activities on the property. Drilling commenced in August 2021. New results reported above and supported by this Table are based on work solely undertaken by AKN.
	Geology • Deposit type, geological setting, and style of mineralisation. • Rocks of the Koongie Park property are assigned to the Lamboo Province, of Palaeoproterozoic age (1910–1805 Ma), which formed within the northeast trending Halls Creek Orogen. • The Central Zone of the Lamboo Province comprises turbiditic metasedimentary and mafic volcanic and volcaniclastic rocks of the Tickalara Metamorphics, deposited by 1865 Ma. These rocks were intruded by tonalitic sheets and deformed and metamorphosed between 1865–1856 Ma and 1850–1845 Ma. • A younger succession of rocks comprising the sedimentary rocks and mafic and felsic volcanic rocks of the Koongie Park Formation (KPF) were deposited in a possible rifted arc setting at around 1843 Ma. Layered mafic-ultramafic bodies were intruded into the Central Zone at 1856 Ma, 1845 Ma and 1830 Ma. Large volumes ofgranite andgabbro of the SallyDowns Supersuite intruded the Central

Zone during the Halls Creek Orogeny at 1835–1805 Ma. Researchers interpret the Central Zone to be an arc-like domain developed on a continental fragment.

The KPF within the Koongie Park property is broadly characterised as a low metamorphic-grade sequence composed of mafic and felsic volcanics and associated sedimentary facies including sandstone, mudstone, carbonate, chert and ironstone intruded by rhyolitic to rhyodacitic sills, dolerite bodies and basalt dykes.
The KPF hosts numerous base metal occurrences and two significant base metal deposits, Onedin and Sandiego.
The upper unit of the KPF composes felsic volcanic units, carbonate, ironstone, chert, mudstone, quartz-bearing volcaniclastic beds and lithic sandstone. Currently known base metal prospects are concentrated in the upper KPF at Koongie Park (i.e., the trend which includes Sandiego and Onedin deposits).
Both, the Sandiego and Onedin deposits are situated within the limbs of intensely folded, higher order, double-plunging anticlinal structures that have been interpreted from magnetic images. The axial planes of the fold structures appear to be upright to south-southeast dipping. They trend northeast, sub-parallel to the regional transcurrent and anastomosing fault systems that dominate the Halls Creek Orogen.
The massive sulphide deposits of Koongie Park have been traditionally classified as volcanogenic massive sulphide (VMS) deposits. A PhD study concluded in 2002 proposed that the best model for the base metal occurrence is as a sub-horizontal basin floor replacement VMS. CSA Global concurs and considers the weight of evidence supports their interpretation as VMS deposits. Thus, the deposits are interpreted to have been formed around the time of deposition of the host volcanic and sedimentary strata in which they are bound and generally in bedding parallel lenses. Hydrothermal fluids associated with volcanic activity is interpreted to have been the source of the metals and other constituents of the mineralisation.
Sphalerite is the main sulphide in the primary mineralisation at Onedin with subordinate pyrrhotite-pyrite-chalcopyrite-galena. Sphalerite chiefly occurs as finegrained masses. In general, the sulphides exhibit replacement textures and show evidence of mobilisation, which is a result of deformation and metamorphism subsequent to initial formation.

	• The mineralogy of the primary mineralisation at Sandiego is pyrite-sphalerite- pyrrhotite-chalcopyrite ± galena which is largely hosted in the magnetite-rich exhalative suite of rocks where it occurs as a massive conformable wedge-shaped lens 200 m in length with a maximum thickness of 75 m. Weak to moderate sulphide vein and stringer mineralisation occur at the base of the exhalite package in the underlying tuffs. Mineralisation is relatively rare in the carbonate zone but may extend into the talc-chlorite schists. Overall, there is poor spatial correlation between copper and zinc mineralisation at Sandiego. However, discrete zinc-rich and copper-rich zones have been identified from core logging and assay results in the vertical dimension. • The KPF exhibits a deep weathered profile at Sandiego and particularly Onedin, resulting in three weathering domains – oxidised zone at surface, primary zone at depth, and the transition zone in between. Each zone has very different mineral assemblages and consequently very different metallurgical properties. • The oxidised zone consists of completely oxidised material, above the base of complete oxidation (BOCO) surface. This surface is on average about 100 m below ground level. It is undulating and deepens significantly in the vicinity of steeply dipping faults. Gossans are developed at surface above the mineral deposits. • The transition zone consists of partially oxidised material and is located between BOCO and the top of fresh rock (TOFR). Supergene mineralisation is comprised of secondary mineralisation hosted in the oxidised and transition zones.
	Drill hole Information • A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: `o` easting and northing of the drill hole collar `o` elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar `o` dip and azimuth of the hole `o` down hole length and interception depth • All requisite drill hole information is included in Appendix 2 of this report. • The reported intersections are listed in Appendix 3 of this report.

	`o` hole length. • If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearlyexplain whythis is the case.
	Data aggregation methods • In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g., cutting of high grades) and cut-off grades are usually Material and should be stated. • Where aggregate intercepts incorporate short lengths of high- grade results and longer lengths of low-grade results, the procedure used for such aggregation should 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. • Intersection calculations are weighted by sample length. • The Onedin samples represent 1 metre RC chip samples. • The Sandiego samples are half-core with varying sample lengths based on lithological boundaries, with a maximum of 2.16m and a minimum of 0.35m, averaging ca. 0.90m. • Reported intersections are primarily based on a cut-off grade of 0.1% Cu with selected higher-grade intervals shown at a 0.5% cut-off grade. • Reported Zn-dominant intersections are based on a 2% Zn cut-off grade. • A maximum of 2m of sub-grade (below cut-off) material is incorporated into the reported composited intersections • No top cutting of data or grades was undertaken in the reporting of these results. • Quoted REE values in the body of the release are only reported to indicate the peak tenor of the REE mineralisation identified at Sandiego and are not to be considered as intersection widths and average grades. REE values determined from pXRF readings are subject to verification by analysis at an approved commercial laboratory. • Appropriate rounding of results has been applied.
	Relationship between mineralisation widths and intercept lengths • These relationships are particularly important in the reporting of Exploration Results. • If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. • The orientation of the drillholes is generally orthogonal to the strike of mineralisation and limits the amount of bias in drill sampling as much as possible. • It is acknowledged that the vertical water bore is atypical in this regard. • The Competent Person considers the orientation of drillholes with respect to

	`o` hole length. • If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearlyexplain whythis is the case.
	Data aggregation methods • In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g., cutting of high grades) and cut-off grades are usually Material and should be stated. • Where aggregate intercepts incorporate short lengths of high- grade results and longer lengths of low-grade results, the procedure used for such aggregation should 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. • Intersection calculations are weighted by sample length. • The Onedin samples represent 1 metre RC chip samples. • The Sandiego samples are half-core with varying sample lengths based on lithological boundaries, with a maximum of 2.16m and a minimum of 0.35m, averaging ca. 0.90m. • Reported intersections are primarily based on a cut-off grade of 0.1% Cu with selected higher-grade intervals shown at a 0.5% cut-off grade. • Reported Zn-dominant intersections are based on a 2% Zn cut-off grade. • A maximum of 2m of sub-grade (below cut-off) material is incorporated into the reported composited intersections • No top cutting of data or grades was undertaken in the reporting of these results. • Quoted REE values in the body of the release are only reported to indicate the peak tenor of the REE mineralisation identified at Sandiego and are not to be considered as intersection widths and average grades. REE values determined from pXRF readings are subject to verification by analysis at an approved commercial laboratory. • Appropriate rounding of results has been applied.
	Relationship between mineralisation widths and intercept lengths • These relationships are particularly important in the reporting of Exploration Results. • If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. • The orientation of the drillholes is generally orthogonal to the strike of mineralisation and limits the amount of bias in drill sampling as much as possible. • It is acknowledged that the vertical water bore is atypical in this regard. • The Competent Person considers the orientation of drillholes with respect to

	• If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g., ‘down hole length,true width not known’). the attitude of the lithologies and/or structures hosting mineralisation will be sufficient to support the reporting of a Mineral Resource estimate in due course.
	Diagrams • Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views. • Plans showing the location and orientation of the RC and diamond holes mentioned in this release has been included in the body or the report. • A series of cross section diagrams showing the reported RC and diamond drill holes has also been provided in the body of the report. • A tabulation of the results is included as Appendix 3.
	Balanced reporting • Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results. • All results received and compiled since the previous release are reported in this release. Drilling and analysis is ongoing with further results expected. • All results reported on by AKN are considered to be accurate and reflective of the mineralised system being drill tested.
	Other substantive exploration data • Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances. • This report relates to drill data reported from the current drill programmes. • AKN believes that the results and data provided herein add further meaning and understanding to the geological lithologies and structure being tested at Onedin and Sandiego.
	Further work • The nature and scale of planned further work (e.g., tests for lateral extensions or depth extensions or large-scale step-out drilling). • Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commerciallysensitive. • This report relates to a drill programme that is primarily designed to infill the existing drill patterns at Onedin and Sandiego and to supply sample material for proposed metallurgical test-work. • AKN’s future exploration will focus on upgrading and expanding upon the current Inferred and Indicated Resource Estimates at Onedin and Sandiego, through further drilling within and immediately outside the resource area.

AI assistant

AUKING MINING LIMITED Capital/Financing Update 2021

64355_rns_2021-11-03_94e3f7e7-f376-4460-9202-9fdf8994d151.pdf