BALLYMORE RESOURCES LIMITED — Capital/Financing Update 2024

Aug 26, 2024

ASX Announcement

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27 August 2024

Day Dawn drilling commences & Dittmer drilling update

HIGHLIGHTS

• Ballymore is pleased to announce the commencement of drilling at the high-grade Day Dawn vein system, Ravenswood Project.

• Day Dawn sits within the major east-northeast trending Mount Leyshon Corridor. The deposit was discovered by Ballymore and has reported high-grade gold, silver and lead mineralisation associated with stacked quartz veins. Rock chip samples have reported high grade results including:

• COR-270: 127.5 g/t Au, 708 g/t Ag & 2.83% Pb

• COR-305: 50.3 g/t Au, 7100 g/t Ag & 9.40% Pb

• COR-269: 71.8 g/t Au, 1460 g/t Ag & 2.76% Pb

• COR-267: 52.4 g/t Au, 1515 g/t Ag & 5.97% Pb

• Surface drilling at Dittmer continues and has successfully intersected apparent extensions to the Duffer and Loch Neigh lodes. Initial assay results are expected in September.

• Major airborne geophysics surveys have been completed at Dittmer, Ruddygore and Mount Molloy.

Ballymore Resources (ASX:BMR) is pleased to announce the commencement of drilling of the exciting high-grade gold-silver target at the Day Dawn prospect, near Charters Towers, and surface drilling progress at Dittmer:

Ballymore Managing Director, Mr David A-Izzeddin, said:

“We are delighted to advise of the commencement of drilling at Day Dawn. Day Dawn is an exciting target, identified by our geologists during routine surface mapping in an area of little to no modern exploration. The Day Dawn area hosts an extensive zone of stacked quartz veins, and our rock chip investigation reported high grade results up to 127.5 g/t Au and 7100 g/t Ag .

Concurrently, our surface drilling program at Dittmer is starting to deliver results after a slow start due to operational and weather-related delays. Drilling has targeted extensions beyond the historic Dittmer mine and has already demonstrated extensions to the Duffer Lode and Loch Neigh Lode. Initial assay results are expected in September and this drilling program is looking to confirm that high-grade drill results already reported around the Dittmer mine, form part of a much larger major gold-copper deposit.

Significant other field work programs are also underway, with the completion of the CEI-funded detailed magnetic survey at Dittmer and heli-borne EM survey at Maniopota (Ruddygore project). EM surveys were also completed at Torpy’s and Mount Molloy. Final data is awaited, and these surveys are expected to assist in defining further exciting drill targets in each of these project areas. All these programs position Ballymore for further success in 2024”.

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Figure 1 – Drill rig on first Day Dawn drill hole site, BDDRC001.

About Day Dawn

The Day Dawn prospect is located 25 km east-southeast of Charters Towers, on EPM 18426, within the Ravenswood Project area. Prospecting by Ballymore in 2020 recognised extensive quartz veining and scree in the Day Dawn area with initial rock chip samples reporting elevated gold, silver and lead up to 26.2 g/t Au, 431 g/t Ag and 1.42 % Pb (COR-006). The Day Dawn prospect hosts historic pits and shafts and sits within the major east-northeast trending Mount Leyshon Corridor but has never been the subject of systematic modern exploration. Numerous gold occurrences and mines occur locally along this structure including Mount Wright gold mine (1,000,000 oz Au), Hadleigh Castle gold mine (350,000 oz Au) as well as the Disraeli, Joe’s Delight, Robinson Crusoe gold mines and the Kirk Gold Field, which produced some 100,000 oz Au.

Follow-up field work and rock chip sampling completed has confirmed the large-scale potential of this newly identified mineralised zone. To date Ballymore has collected 84 rock chip samples in the Day Dawn - Old Man mine areas. Samples were typically of quartz +/- carbonate veins with hematite infill and galena +/- chalcopyrite in altered granodiorite as well as brecciated, altered granodiorite. Out of 84 samples, 61 samples have exceeded 1g/t Au, and 26 samples have exceeded 10 g/t Au with the best sample (COR-270) reporting 127.5 g/t Au, 708 ppm Ag and 2.83% Pb. In addition, many samples reported anomalous lead and silver, with 38 samples exceeding 100 g/t Ag, 13 samples exceeding 1000 g/t Ag and 35 samples exceeding 1.0% Pb .

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Figure 2 - Location of Day Dawn Prospect within Mount Leyshon Corridor

A summary of significant rock chip results includes the following:

COR 270: 127.5 g/t Au, 708 ppm Ag, 2.83% Pb COR 305: 50.3 g/t Au, 7100 g/t Ag, 9.40% Pb COR 269: 71.8 g/t Au, 1460 g/t Ag, 2.76% Pb COR 299: 79.7 g/t Au, 35.6 g/t Ag, 0.35% Pb COR 267: 52.4 g/t Au, 1515 g/t Ag, 5.97% Pb COR 254: 70.8 g/t Au, 22.7 g/t Ag, 0.23% Pb COR 307: 45.2 g/t Au, 1025 g/t Ag, 3.59% Pb COR 271: 35.0 g/t Au, 1860 g/t Ag, 0.21% Cu, 4.81% Pb, 0.17% Zn COR 306: 44.4 g/t Au, 1065 g/t Ag, 3.53% Pb COR 260: 34.3 g/t Au, 1880 g/t Ag, 0.20% Cu, 4.70% Pb & 0.17% Zn COR 304: 34.2 g/t Au, 1410 g/t Ag, 14.45% Pb COR 245: 48.0 g/t Au, 39.8 g/t Ag, 1.15% Pb COR 265: 35.9 g/t Au, 411 g/t Ag, 2.71% Pb

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Rock chip sampling by Ballymore has defined an area of anomalous Au-Ag-Pb rock chip results over an area of 900m x 300m in the Day Dawn area. In addition, a soil sampling program has highlighted a large 1,400m x 300m gold-lead anomaly in the Day Dawn - Old Man area. Maximum soil results in the area include 1000 ppb Au, 1.97 ppm Ag, 330 ppm As, 29.4 ppm Bi, 360 ppm Cu, 372 ppm Pb, 75.5 ppm Sb and 498 ppm Zn.

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- Figure 3 Day Dawn area showing location of rock chip samples overlain on gold soil anomaly

The Day Dawn area is recessive, with areas of limited outcrop, and is partially overlain by shallow transported alluvial cover and minor outcrops of younger sediments. As a result, an Induced Polarisation (“IP”) geophysics survey was conducted in 2022 to assist in mapping the lodes under cover and defined potential extensions to mineralisation along strike. Eight lines of 50m dipole-dipole IP geophysical data were collected over the Day Dawn prospect for a total of 10.3 line-km. The data was of high quality and modelling of the IP data demonstrated that mapped lodes correlate well with zones of low resistivity.

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- Figure 4 Day Dawn IP Resistivity modelled stack.

Only limited modern exploration has been conducted in the local area and the Day Dawn set of veins has not been previously tested by drilling. In 1993 Aurora Gold drilled 4 shallow RC holes for 180m, targeting the Old Man workings, located 700m east of Day Dawn, with the best result being 2m @ 0.49 g/t Au (DDRC002: 14 – 16m).

Mapping has recognised several sets of veins dipping moderately towards the north and east. A series of holes have been designed to test the key lode structures with a series of east-dipping holes for a total of 1,000m.

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- Figure 5 Day Dawn mapped lodes, rock chip results and proposed drill collars.

Dittmer Surface Drilling Program

At Dittmer, a surface drilling campaign commenced in June to test the lateral extent of this exciting discovery beyond the historic Dittmer mine. This step-out drilling program represents the first major surface drilling program completed at Dittmer and was designed to test the significant potential for strike extensions to the old mine area, as demonstrated by the large geochemical anomaly defined in this area and the presence of high-grade historic surface workings over more than 2km (e.g. Loch Neigh – 567 g/t Au, Scorpion 355 g/t Au, Golden Gem – 278g/t Au) but have never been drill tested, much like Dittmer.

This surface drilling program was initially hampered by mechanical issues and inclement weather but is now progressing well. To date, 4 holes have been drilled for 475m, and has already successfully encountered vein intersections interpreted to be extensions to the known Duffer Lode and Loch Neigh Lode. Initial assay results are now expected to be received in September.

In addition, further prospecting and mapping is underway at Dittmer and also Cedar Ridge, 20km south of Dittmer.

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Airborne Geophysics Surveys

Ballymore Resources was granted two Collaborative Exploration Initiative (CEI) grants to undertake two airborne geophysical surveys in March 2024, totalling $600,000.

A CEI-funded heli-borne gradient magnetic and radiometric survey has now been completed over the entire Dittmer Project area in June 2024. The State Government agreed to fund $300,000 to complete the survey. The survey comprised 8,051 line-kilometres and preliminary data has shown enhanced resolution over the local area. Final data is currently being modelled and is expected to play a key role in delineating rock types, faults and alteration for delineating further targets in the local area.

In addition, Ballymore received another $300,000 CEI grant to undertake a heli-borne EM survey over the Maniopota prospect area, south of Chillagoe (Ruddygore Project). This survey was completed in August and final results are expected in September. This survey was flown in order to map accumulations of conductive material such as semi-massive and massive sulphides. The addition of this innovative and valuable geophysical dataset in collaboration with geological and geochemical datasets already collected by Ballymore, should allow the development of exciting drill targets in this region, that will be drill-ready later in 2024.

Ballymore has also leveraged off the government-funded mobilisation of the SkyTEM geophysics system to Ruddygore to undertake two additional heli-borne EM surveys over the historic Torpy’s silver mine and also over the historic Mount Molloy copper mine. These surveys were also completed in August with final data expected in September.

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– Figure 6 SkyTEM heliborne EM survey being undertaken at Mount Molloy

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Planned Activities

The Company is well funded, having successfully finalised an A$11.2 million funding package in March 2024. On the back of this successful capital raise, the company has a busy year ahead, including the following key activities and milestones:

• August 2024 Preliminary surface drilling program at Dittmer (Dittmer Project)

• August 2024 Preliminary Day Dawn drilling program (Ravenswood Project)

• September 2024 Cedar Ridge drilling program (Dittmer Project)

• October 2024 Ruddygore porphyry copper extension drilling (Ruddygore Project)

Approved by the Board of Ballymore Resources Limited.

For further information: David A-Izzeddin

Managing Director daizzeddin@ballymoreres.com

Gareth Quinn

Media and Investor Relations gareth@republicpr.com.au 0417 711 108

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Competent Persons Statement

The information in this announcement that relates to Exploration Results is based on, and fairly represents, information compiled or reviewed by Mr David A-Izzeddin. Mr A-Izzeddin is a Member of The Australasian Institute of Geoscientists and is a Director and an employee of the Company. Mr A-Izzeddin has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is 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 A-Izzeddin consents to the inclusion in the announcement of the matters based on his information in the form and context in which it applies. The Exploration Targets described in this announcement are conceptual in nature and there is insufficient information to establish whether further exploration will result in the determination of Mineral Resources.

Forward-Looking Statements

Certain statements made during or in connection with this statement contain or comprise certain forward-looking statements regarding the Company’s Mineral Resources, exploration operations and other economic performance and financial conditions as well as general market outlook. Although the Company believes that the expectations reflected in such forward-looking statements are reasonable, such expectations are only predictions and are subject to inherent risks and uncertainties which could cause actual values, results, performance or achievements to differ materially from those expressed, implied or projected in any forward-looking statements and no assurance can be given that such expectations will prove to have been correct.

Accordingly, results could differ materially from those set out in the forward-looking statements as a result of, among other factors, changes in economic and market conditions, delays or changes in project development, success of business and operating initiatives, changes in the regulatory environment and other government actions, fluctuations in commodity prices and exchange rates and business and operational risk management. Except for statutory liability which cannot be excluded, each of the Company, its officers, employees and advisors expressly disclaim any responsibility for the accuracy or completeness of the material contained in this statement and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this statement or any error or omission. The Company undertakes no obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after today's date or to reflect the occurrence of unanticipated events other than required by the Corporations Act and ASX Listing Rules. Accordingly, you should not place undue reliance on any forward-looking statement.

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About Ballymore Resources (ASX:BMR)

Ballymore holds a portfolio of exploration and development projects in prolific Queensland mineral belts that are highly prospective for gold and base metals. These consist of two granted Mining Leases (MLs)and fourteen Exploration Permits over four project areas at Dittmer, Ruddygore, Ravenswood, Mount Molloy. The total area covered by the tenements is 1,456 km[2] .

Known deposits in north-east Queensland include Kidston (5 Moz Au), Ravenswood/Mount Wright (5.8 Moz Au), Mount Leyshon (3.8 Moz Au), Red Dome/Mungana (3.2 Moz Au) and Mt Morgan (17 Moz Au and 239 Kt Cu). The deposits occur in a wide range of geological settings including porphyries, breccias, skarns and veins.

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Board

Andrew Greville, Chairman David A-Izzeddin, Managing Director Andrew Gilbert, Director – Operations Nick Jorss, Non-Executive Director

Head Office

Suite 606, Level 6 10 Market St Brisbane QLD 4000 Phone +617 3212 6299 ballymoreresources.com

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APPENDIX 1. BALLYMORE DAY DAWN DRILL COLLAR INFORMATION

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Hole Target EPM East North RL Final Depth Dip Azimuth
(MGA) (MGA) (m) (MGA)
BDDRC001 Day Dawn EPM 18426 446,580 7,773,090 245 In Progress -60 270
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APPENDIX 2. HISTORIC OLD MAN DRILL COLLAR INFORMATION

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Hole Target EPM East North RL Final Depth Dip Azimuth
(MGA) (MGA) (m) (MGA)
DDRC001 Old Man EPM 18426 447,346 7,773,194 233 48 -60 62.5
DDRC002 Old Man EPM 18426 447,509 7,773,085 231 40 -60 37.5
DDRC003 Old Man EPM 18426 447,277 7,773,352 234 43 -60 67.5
DDRC004 Old Man EPM 18426 447,254 7,773,407 233 50 -60 67.5
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APPENDIX 3. BALLYMORE DITTMER SURFACE DRILL COLLAR INFORMATION

Hole	Target	EPM	East (MGA)	North (MGA)	RL	Final Depth (m)	Dip	Azimuth (MGA)
DTDD043	Duffer	EPM 14255	645,917	7,738,418	191	188.2	-40	212
DTDD044	Loch Neigh / Wilsons	EPM 14255	645,922	7,738,421	191	125.3	-44	317
DTDD045	Duffer	EPM 14255	645,724	7,737,758	189	129.6	-32	302
DTDD046	Loch Neigh	EPM 14255	645,523	7,738,304	351	In Progress	-60	315

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APPENDIX 4. RAVENSWOOD – JORC CODE TABLE 1 CHECKLIST OF ASSESSMENT AND REPORTING CRITERIA

Section 1: Sampling Techniques and Data

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.	• Exploration has been undertaken at the Project since the early 1980s. Sampling methods have included surface rock chip, soil, and stream sediment samples, together with drillhole samples comprising open hole percussion samples. • Geochemistry from soil and stream sediment samples is used semi- quantitatively to guide further exploration and is not used for Mineral Resource estimation. • The accuracy of rock chip geochemistry is generally high, but these samples are spot samples and generally not used in Mineral Resource estimation. • The quality of open hole percussion drilling is generally low because there is a likelihood of contamination of samples. Consequently, these samples are generally used to guide further exploration and are not used for Mineral Resource estimation. • The quality of RC percussion drilling is generally medium – high because the method significantly reduces the potential of contamination, unless there is a lot of groundwater or badly broken ground. Consequently, these samples can be representative of the interval drilled and can be used for Mineral Resource estimation. • Ballymore rock chip samples were collected from outcrop, subcrop, float material, as well as mullock samples. • Ballymore soil samples were collected on a grid pattern and the top 10 cm of cover material is removed and regolith is was sieved to -80# and a 150g sample was collected
	• Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.	• No information is available documenting measures to ensure sample representivity for surface sampling methods. These methods are not used for Mineral Resource estimation. • RC drilling is an established method designed to minimise drilling-induced contamination of samples, aimed to deliver a representative sample of the interval being drilled.
	• 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	• Economic gold mineralisation is measured in terms of parts per million and therefore rigorous sampling techniques must be adopted to ensure quantitative, precise measurements of gold concentration. If gold is present as medium – coarse grains, the entire sampling, sub-sampling, and analytical process must be more stringent. Where the main mineralisation is copper, this is measured as a percentage and

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Criteria	JORC Code Explanation	Commentary
	gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g., submarine nodules) may warrant disclosure of detailed information.	therefore sampling techniques can be somewhat less rigorous than for gold. • At Ravenswood, gold can be visible and therefore there are inherent sampling problems. Procedures used to manage this problem are documented elsewhere in relevant sub-sections of this table.
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 what method, etc).	• Numerous drilling programs have been recorded across the Project area since the 1980s comprising mostly RC and diamond drilling. • Most drilling is inconsistently documented and therefore details on hole sizes, bit types and other drilling parameters are sparse. • Prior to the current Day Dawn RC drilling program, Ballymore has not completed any drilling at the Project.
DRILL SAMPLE RECOVERY	• Method of recording and assessing core and chip sample recoveries and results assessed.	• For most programs, no information is available documenting if sample recovery was routinely recorded. Aberfoyle (1980s) reported sample recoveries of typically >85% in percussion drillholes. • No assessment of sample recovery has been made.
	• Measures taken to maximise sample recovery and ensure representative nature of the samples.	• No information is available documenting measures to maximise sample recovery or ensure collection of representative samples.
	• Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	• No assessment has been completed to determine if there is a relationship between sample recovery and grade, and whether there is any potential for sample bias associated with the drilling used to date.
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.	• Most drill logs document logging for lithology, structure, alteration, mineralisation, and veining. No core photography is available. • Logging information is possibly adequate to support future Mineral Resource estimation but will be reassessed if required.
	• Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.	• Logging is mostly qualitative.
	• The total length and percentage of the relevant intersections logged.	• Geological logs were completed for all drilled intervals.
SUB-SAMPLING TECHNIQUES AND SAMPLE PREPARATION	• If core, whether cut or sawn and whether quarter, half or all core taken.	• Different companies used different sampling intervals that ranged from a nominal minimum of 1 m to a nominal maximum of 4 m. Not all drilled intervals were sampled. • No information is available on whether the core was cut or split or the size of the core samples submitted for analysis.
	• If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.	• No information is available on moisture content of percussion samples. • Limited information is reported for subsampling of percussion chips. Some companies report the use of cyclones at rigs and/or spearing of sample intervals to collect a sample for laboratory analysis.
	• For all sample types, the nature, quality, and appropriateness of the sample preparation technique.	• Limited details of the laboratory preparation of samples were recorded. It is assumed that sample preparation methods used by all commercial laboratories

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Criteria	JORC Code Explanation	Commentary
		followed the basic steps of drying, crushing, and pulverising, but details of the amount of the sample crushed and pulverised are not known. Therefore, it is not possible to assess the quality and appropriateness of the sample preparation techniques.
	• Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.	• Limited information has been recorded that documents quality control procedures adopted for all sub-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.	• No information has been recorded that documents measures taken to ensure that the sampling is representative of the in situ material collected.
	• Whether sample sizes are appropriate to the grain size of the material being sampled.	• No formal assessment has been undertaken to quantify the appropriate sample size required for good quality determination of gold content, given the nature of the gold mineralisation.
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.	• Limited detailed information has been recorded that documents the nature, quality, and appropriateness of assaying methods used for any of the drilling programs. Where gold was analysed, it was undertaken by aqua regia digest and AAS finish, or more generally by fire assay method. Where other elements were analysed, earlier programs tended to analyse for a limited suite e.g., Cu, Pb, Zn, Ag. Some later programs used a large multi-element suite analysed by ICP. • Ballymore rock chip samples were analysed at ALS Townsville or Intertek Townsville using a multi-element suite by aqua regia or 4 - acid digestion and ICP-MS finish. For most elements, this is considered as a total analysis. Gold was analysed with a 50 g charge used for fire assay with an ICP-AES determination. Normally the gold analysis would be considered a total analysis. • Ballymore soil samples were analysed at ALS Townsville using a multi-element suite by a 4 -acid digestion and ICP-MS finish. For most elements, this is considered as a total analysis. Gold was analysed with a 50 g charge used for fire assay with an ICP-AES determination. Normally the gold analysis would be considered a total analysis.
	• 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.	• A number of pXRF soil surveys have been completed within the Ravenswood Project. • In 2015 ActivEX completed a pXRF soil survey over the King Solomon – Rose of Allandale workings on EPM 18637 using a Niton XL3t-950 handheld XRF analyser on ‘Soil’ mode, using three filters, each with 30 second duration to give a total analysing time of 90 seconds. • In 2020 Ballymore has completed pXRF soil surveys over the Seventy Mile Mount area on EPM 18424 using an Olympus Vanta C Series (TL-WN725N) portable XRF analyser. • Soil samples were prepared by scuffing a 10 cm2 area to remove any light

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Criteria	JORC Code Explanation	Commentary
		vegetation and immediate top soil. The instrument was then used to analyse the area directly. The analyser window was checked for any foreign contaminant between samples. Niton XL3t-950 handhelds are able to detect 34 elements on ‘Soil’ mode, using three filters, each with 30 second duration (Ag, As, Au, Ba, Ca, Cd, Co, Cr, Cs, Cu, Fe, Hg, K, Mn, Mo, Ni, Pb, Pd, Rb, S, Sb, Sc, Se, Sn, Sr, Te, Th, Ti, U, V, W, Y, Zn, Zr).
	• 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.	• Limited details of the use of standards or certified reference materials have been reported.
VERIFICATION OF SAMPLING AND ASSAYING	• The verification of significant intersections by either independent or alternative company personnel.	• It has not been possible to independently verify significant intersections.
	• The use of twinned holes.	• There has been no use of twinned holes to date.
	• Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.	• Ballymore has collated and created a digital database of previous exploration completed at the Project.
	• Discuss any adjustment to assay data.	• No adjustments to assay data have been made.
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.	• No details of the accuracy and quality of surveys used to locate drillholes (collar and down-hole surveys) is recorded. Drillhole collar locations were typically based on local grids and the accuracy of drill collars has not been verified to date. • Ballymore surface geochemical sampling is surveyed using a handheld GPS with a location error of+/-5m.
	• Specification of the grid system used.	• The co-ordinate system used is MGA94 zone 55 Datum.
	• Quality and adequacy of topographic control.	• Quality of the topographic control data is poor and is currently reliant on public domain data.
DATA SPACING AND DISTRIBUTION	• Data spacing for reporting of Exploration Results.	• There is a relatively small amount of drilling to date at Seventy Mile Mount, Matthew’s Pinnacle, Puddler Creek, Old Man, Radical, Cockfields, Lighthorse, Just In Time, Westgate, Matthews South, Rishton Sands and Red Dust prospects. The spacing of drillhole data is variable.
	• 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.	• There are no Mineral Resources or Ore Reserves. • There is insufficient drill spacing to establish the degree of geological and grade continuity appropriate for Mineral Resource and Ore Reserve estimation.
	• Whether sample compositing has been applied.	• Some sample compositing was carried out on site within some of the percussion drilling e.g., Aurora Gold (1993) composited the 1 m RC drillhole samples into 4 m composites for initial analysis, and Rishton Gold (1996) composited the 1 m RC drillhole samples into 3 m composites.

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Criteria	JORC Code Explanation	Commentary
		• For reporting purposes, some drillhole assay results have been composited together to report contiguous zones of mineralisation.
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.	• Previous drillholes were generally sited to intersect interpreted mineralised zones at a high angle, however, only limited drilling has been completed to date and further drilling will be required to establish the optimal orientation. • To the extent known, drilling is assumed to be unbiased.
	• 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.	• No sampling bias is considered to have been introduced in drilling completed.
SAMPLE SECURITY	• The measures taken to ensure sample security.	• No chain of custody is documented for previous drilling. • For Ballymore sampling programs, all work was supervised by company staff. Samples were double bagged, palletised and shrink wrapped at the core shed before dispatch to the laboratory.
AUDITS OR REVIEWS	• The results of any audits or reviews of sampling techniques and data.	• Ballymore programs: Internal auditing procedures and reviews were regularly undertaken on sampling techniques, standard operating procedures, and laboratory processes. • Derisk has completed a review of the work Ballymore has undertaken in 2021.

Section 2: Reporting of Exploration Results

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 Project tenements comprise EPM 18424, EPM 18426, EPM 18637, EPM 25466, EPM 25467 and EPM 28565. These licences are held 100% Ballymore Resources.
	• 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.	• All tenements are in good standing.
EXPLORATION DONE BY OTHER PARTIES	• Acknowledgment and appraisal of exploration by other parties.	Numerous exploration permits and mining leases have been held over parts and/or all of the Project area. Previous exploration has included geological mapping, soil and rock chip geochemical sampling, airborne and ground geophysics, plus RC and diamond drilling. Major programs included: • Aberfoyle Exploration (1983 – 1985) completed an IP survey, VLF EM survey, horizontal loop EM, geological mapping, soil sampling, petrology, ground magnetic survey, panned concentrate samples,

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CRITERIA	JORC Code explanation	Commentary
		percussion drilling around Seventy Mile Mount and Middle Mount (5 holes for 586 m). • Pajingo Gold Mine/Battle Mountain (Australia) Inc (1985 – 1988) completed reconnaissance and detailed mapping, prospecting, costeaning, rock chip sampling, drilling at Cockfields and Seventy Mile Creek (19 holes for 449.5 m). • Aurora Gold Limited/North Queensland Resources/Newmont Holdings / BHP Minerals (1981 – 1994) completed work including photogeological interpretation, rock chip sampling, stream sediment sampling, soil sampling, geological mapping, percussion drilling (9 holes for 394 m), magnetic susceptibility traverses, metallurgical testwork, engineering studies, resource estimates, ore reserves. Key prospects explored within the Ravenswood project included Old Man, Radical, Cornishman and Alfonso. • Pan Australian Mining (1982 – 1992) completed airborne magnetics/radiometrics, geological mapping, aerial photography, BCL stream sediment sampling, prospecting, rock chip sampling, gridding, ground magnetics, trenching and percussion drilling at Lighthorse and Just In Time (11 holes for 321.5 m). • Esso Australia (1983 – 1985) completed stream sediment sampling, mapping, literature review, aerial photography, re- interpretation of stream sediment data, petrology, trenching at Matthew’s Pinnacle, Matthews South and Westgate (30 trenches for 1,164 m), RC drilling at Westgate, Puddler Creek, Pinnacle Creek, and Matthew’s Pinnacle (13 holes for 682 m) and diamond drilling at Westgate and Pinnacle Creek (4 holes for 239 m). • Mount Leyshon Gold Mines (1991 – 2009) completed geological mapping, rock chip sampling, soil sampling, aerial photography, ground magnetic survey, gravity survey, 3D pole – dipole IP survey, RAB drilling, RC drilling, diamond drilling at Puddler Creek, Seventy Mile Mount, Matthew’s Pinnacle (145 holes for 14,568.77 m). • Rishton Gold (1995 – 2008) completed desktop studies, literature review, ground reconnaissance, geological mapping, ground magnetics survey, gridding, soil sampling, rock chip sampling, aircore bedrock drilling at Rishton Sands (57 holes for 1,140 m). • Union Oil Development Corporation (1988 – 1989) reviewed multispectral data, completed reconnaissance and grid mapping at Mt Cornishman, rock chip sampling, stream sediment sampling, acquisition of aeromagnetic and radiometric data, RC drilling at Red Dust (15 holes for 630m).

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CRITERIA	JORC Code explanation Commentary	JORC Code explanation Commentary
GEOLOGY	• Deposit type, geological setting, and style of mineralisation.	The Ravenswood Project is located within the Ravenswood Batholith in the Mount Windsor Subprovince of the Charters Towers Province, within the Thomson Orogen, part of the northern Tasman Fold Belt System. Ballymore considers that the Project is prospective for: • Devonian intrusive-hosted mesothermal gold veins e.g., Charters Towers Goldfield. • Carboniferous intrusive-hosted mesothermal gold veins e.g., Ravenswood Goldfield. • Early Permian breccia-hosted gold systems e.g., Mount Leyshon, Mount Wright, Welcome Breccia. • Late Palaeozoic low sulphidation epithermal gold veins e.g., Pajingo group. • Cambrian polymetallic volcanic-hosted massive sulphides e.g., Mount Windsor deposits.
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: • Easting and northing of the drill hole collar. • Elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar. • Dip and azimuth of the hole. • Down hole length and interception depth. • Holelength.	• Refer to Appendix 1 & 2.
	• 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 clearly explain why this is the case.	• Refer to Appendix 1 & 2.
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.	• The mineralised drill intersections are reported as downhole intervals and were not converted to true widths. Where gold repeats were recorded, the average of all the samples was used. True widths may be up to 50% less than drill intersections pending confirmation of mineralisation geometry. • No capping of high grades was performed in the aggregation process.
	• 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 drill intercepts reported were calculated using a 0.1, 0.5, 1.0 and 10.0 g/t Au cut-off grade. Gold grade for the intercept was calculated as a weighted average grade. Up to 2 m (down hole) of internal waste (< 0.5 g/t Au) was included in some cases.
	• The assumptions used for any reporting of metal equivalent values should be clearly stated.	• No metal equivalents are reported.
RELATIONSHIP BETWEEN MINERALISATION	• These relationships are particularly important in the reporting of Exploration Results.	• Overall, previous drilling orientation and sampling was generally as perpendicular to the mineralisation targets as practicable.
WIDTHS AND INTERCEPT LENGTHS	• If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.	• The geometry of the various drill targets has generally been established through mapping and most mineralisation is typically hosted in sub-vertical veining and breccia bodies.

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CRITERIA	JORC Code explanation	Commentary
		Nevertheless, further work is required to establish the optimal angle to test the mineralisation.
	• 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 mineralised intercepts generally intersect the interpreted dip of the mineralisation at a high angle but are not true widths.
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.	• Refer to figures contained within this report.
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.	• Balanced reporting of Exploration Results is presented within this report.
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.	• The Project includes a large amount of exploration data collected by previous companies, including regional stream sediment geochemical data, soil sample and rock chip data, geological mapping data, drilling data, geophysical survey data, and costean data. Much of this data has been captured and validated into a GIS database. • Previous mining has been limited and involved very selective mining and hand sorting. Limited systematic data has been collected to date to assess metallurgy and mining parameters relevant to a modern operation.
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).	• Ballymore plans to conduct surface geological mapping and geochemistry, and drilling across various high-priority target areas over the next two years.
	• Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	• Refer to figures contained within this report.

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APPENDIX 5. DITTMER – JORC CODE TABLE 1 CHECKLIST OF ASSESSMENT AND REPORTING CRITERIA

Section 1: Sampling Techniques and Data

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.	• Exploration has been undertaken at the Project since the early 1960s. Sampling methods have included surface rock chip and trenching, soil, and stream sediment samples, together with channel samples taken from underground exposures and drillhole samples comprising diamond core samples. • .Geochemistry from soil and stream sediment samples is used semi- quantitatively to guide further exploration and is not used for Mineral Resource estimation. • The accuracy of rock chip geochemistry is generally high but these samples are spot samples and generally not used in Mineral Resource estimation. • The accuracy of trench and channel geochemistry is generally high. These samples are regularly used in Mineral Resource estimation. • The quality of diamond coring is generally medium – high because the method is designed to sample the rock mass effectively in most conditions. Consequently, these samples can be representative of the interval drilled and can be used for Mineral Resource estimation. •
	• Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.	• No information is available or documenting measures to ensure sample representivity for surface sampling methods. These methods are not used for Mineral Resource estimation. • Channel sampling is an established method designed to deliver a representative sample of the interval being sampled. • Diamond drilling is also an established method aimed at collecting representative samples of the interval being drilled.
	• 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.	• Economic gold mineralisation is measured in terms of parts per million and therefore rigorous sampling techniques must be adopted to ensure quantitative, precise measurements of gold concentration. If gold is present as medium – coarse grains, the entire sampling, sub-sampling, and analytical process must be more stringent.
DRILLING TECHNIQUES	• Drill type (e.g., core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details	• Ballymore Surface Drilling: 2 diamond drillholes in HQ triple tube size were drilled

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CRITERIA	JORC Code Explanation Commentary	JORC Code Explanation Commentary
	(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 what method, etc).	at Dittmer (955.0 m) in 2020. All holes were oriented using an Ace instrument. • Ballymore Underground Drilling: 6 diamond drillholes in NQ2 size were drilled at Dittmer (946.51m) in 2021. Another 4 diamond drillholes in NQ3 size were drilled at Dittmer (539.7m) in 2022. All holes were oriented using an ACT Mk2 instrument. Another 20 diamond drillholes in HQ3 triple tube to date have been completed in 2023 at Dittmer (3261.42m). Subsequently another 13 diamond drillholes in HQ3 triple tube to date have been completed in 2024 at Dittmer (2212.2m). All holes were oriented using an ACT Mk2 instrument.
DRILL SAMPLE RECOVERY	• Method of recording and assessing core and chip sample recoveries and results assessed.	• Ballymore surface drilling: Sample recovery was measured on a per-run basis and generally reported to be greater than 95%, except where drilling in the upper, weathered, and oxidised zones. However, Ballymore also reported some core loss associated with zones of alteration and mineralisation that could result in potential for sample bias. • Ballymore underground drilling: Sample recovery was measured on a per-run basis and generally reported to be greater than 99%.
	• Measures taken to maximise sample recovery and ensure representative nature of the samples.	• Ballymore drilling: Used chrome barrels and controlled drilling in broken ground to maximise sample recovery. In addition, triple tube is used to maximise recovery.
	• Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	• No assessment has been completed to determine if there is a relationship between sample recovery and grade, and whether there is any potential for sample bias associated with the drilling methods used to date.
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.	• Ballymore drilling: Drill core was logged for lithology, structure, alteration, mineralisation, and veining, which is deemed to be appropriate for the style of mineralisation and the lithologies encountered. All core was photographed. Logging information is adequate to support Mineral Resource estimation. Information to support geotechnical studies is available.
	• Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.	• Ballymore drilling: Logging of core is mostly qualitative, except for some semi- quantitative logging of sulphide content, quartz veining, RQD, and geotechnical parameters.
	• The total length and percentage of the relevant intersections logged.	• Ballymore drilling: Geological logs were completed for all drilled intervals.
SUB-SAMPLING TECHNIQUES AND SAMPLE PREPARATION	• If core, whether cut or sawn and whether quarter, half or all core taken.	• Ballymore drilling: Ballymore cut core samples in half or quarter using a diamond saw and where appropriate used geological contacts or mineralisation to define sample intervals.

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CRITERIA	JORC Code Explanation Commentary	JORC Code Explanation Commentary
	• If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.	• No non-core drilling has been undertaken.
	• For all sample types, the nature, quality, and appropriateness of the sample preparation technique.	• Ballymore drilling: Half core was submitted to the laboratory, generally 2 – 3 kg per sample. All of the core was dried, crushed to -6 mm, then pulverised to 85% - 75 µm. This method is considered appropriate for mineralisation that may have visible gold mineralisation. • Ballymore Underground Channel Sampling: Samples were collected from underground exposures across the mapped lode. Generally, 2 – 3 kg samples were collected and despatched to the laboratory. All samples were dried, crushed to -6 mm, then pulverised to 85% - 75 µm. This method is considered appropriate for mineralisation that may have visible gold mineralisation.
	• Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.	• Ballymore drilling: Drill core samples of cut core were consistently taken from the same side of the orientation line on the core to maintain consistency. All of the sample was crushed and pulverised to maximise sample representativity. Pulverised samples were tested for compliance to grinding specifications at the rate of 1 in 40. • Ballymore Underground Channel Sampling: A diamond saw was used to cut a slot across the designated sample zone and ensure uniform sampling of the zone. All of the sample was crushed and pulverised to maximise sample representativity. Pulverised samples were tested for compliance to grinding specifications at the rate of 1 in 40.
	• 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.	• Ballymore drilling: QA/QC procedures included the insertion of quarter core field duplicates at the insertion rate of 1 in 20 samples. Field blanks were also submitted to the laboratory. • Ballymore underground channel sampling: Field blanks were submitted to the laboratory • Ballymore soil sampling: Field duplicates were submitted to the laboratory.
	• Whether sample sizes are appropriate to the grain size of the material being sampled.	• No formal assessment has been undertaken to quantify the appropriate sample size required for good quality determination of gold content, given the nature of the gold mineralisation.
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.	• Ballymore 2021 drilling and channel sampling: ALS Townsville Laboratory was used. Gold assays were analysed with a 50 g charge used for fire assay with an ICP-AES determination. Over range gold samples (>10 ppm) were re-analysed by fire assay and gravimetric finish. In addition, a 0.25 g charge was taken for analysis for 48

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CRITERIA	JORC Code Explanation	Commentary
		elements (Ag, Al, As, Ba, Be, Bi, Ca, Cd, Ce, Co, Cr, Cs, Cu, Fe, Ga, Ge, Hf, In, K, La, Li, Mg, Mn, Mo, Na, Nb, Ni, P, Pb, Rb, Re, S, Sb, Sc, Se, Sn, Sr, Ta, Te, Th, Ti, Tl, U, V, W, Y, Zn, Zr) utilising a four-acid digest with an ICP-MS determination. Any over range Cu (>10000 ppm) and Ag (>100 ppm) was re-analysed using a standard Ore Grade method utilising a four-acid digest producing a volumetrically precise digest analysed with an ICP-AES finish for high detection limits. The fire assay method for gold using either a 30 g or 50 g charge is an appropriate assay method and is normally considered a total assay method, except where gold grain size is very coarse. • Ballymore 2022, 2023 & 2024 drilling: Intertek Townsville Laboratory was used. Gold assays were analysed with a 50 g charge used for fire assay with an ICP-AES determination. In addition, a 0.25 g charge was taken for analysis for 48 elements (Ag, Al, As, Ba, Be, Bi, Ca, Cd, Ce, Co, Cr, Cs, Cu, Fe, Ga, Ge, Hf, In, K, La, Li, Mg, Mn, Mo, Na, Nb, Ni, P, Pb, Rb, Re, S, Sb, Sc, Se, Sn, Sr, Ta, Te, Th, Ti, Tl, U, V, W, Y, Zn, Zr) utilising a four-acid digest with an ICP-MS determination. Any over range Cu (>10000 ppm) was re-analysed using a standard Ore Grade method utilising a four-acid digest producing a volumetrically precise digest analysed with an ICP-AES finish for high detection limits. The fire assay method for gold using either a 30 g or 50 g charge is an appropriate assay method and is normally considered a total assay method, except where gold grain size is very coarse. • Ballymore rock chip samples were analysed at ALS Townsville or Intertek using a multi- element suite by aqua regia digestion and ICP-MS finish. For most elements, this is considered as a total analysis. Gold was analysed with a 50 g charge used for fire assay with an ICP-AES determination. Normally the gold analysis would be considered a total analysis. • Ballymore soil samples were analysed at Intertek Townsville using a multi-element suite by aqua regia digestion and ICP-MS finish. For most elements, this is considered as a total analysis.
	• 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.	• No geophysical tools, spectrometers, or handheld XRF instruments have been used to date to determine chemical composition at a semi-quantitative level of accuracy.
	• 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.	• Ballymore drilling: In addition to blanks and field duplicates, commercial CRMs of low grade to high grade gold ore material were prepared and certified for Au, Ag and Cu by Ore Research & Exploration Services Pty Ltd. These were incorporated into the sampling stream to achieve an

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CRITERIA	JORC Code Explanation Commentary	JORC Code Explanation Commentary
		overall insertion rate of 1 duplicate, blank or CRM for every 10 core samples. • Ballymore Channel Sampling: In addition to blanks, commercial CRMs of low grade to high grade gold ore material were prepared and certified for Au, Ag and Cu by Ore Research & Exploration Services Pty Ltd. These were incorporated into the sampling stream to achieve an overall insertion rate of 1 blank or CRM for every 10 core samples as a minimum. • Company staff routinely monitor QA/QC results and liaise with the laboratory if any dubious results are reported.
VERIFICATION OF SAMPLING AND ASSAYING	• The verification of significant intersections by either independent or alternative company personnel.	• It has not been possible to independently verify significant intersections to date.
	• The use of twinned holes.	• There has been no use of twinned holes to date.
	• Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.	• Ballymore drilling: Primary logging data was recorded digitally onto electronic spread sheets and validated against code tables by the logging geologist. Primary analytical data was received electronically in csv file format and imported directly into an electronic assay register spread sheet. Data validation was conducted by comparing the spreadsheet data against the Certificate of Analysis supplied as a secured pdf file by the laboratory.
	• Discuss any adjustment to assay data.	• No adjustments to assay data have been made.
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.	• Underground workings: Ballymore employed a contract surveyor to survey underground workings and channel sample locations to sub-metre accuracy. • Ballymore surface drilling: Drillhole collar locations were initially set out (and reported) using a handheld GPS with a location error of +/- 5m. All holes were subsequently surveyed by contract surveyor to a sub-metre accuracy, with data supplied electronically as spreadsheets and pdf files. The azimuth and dip at the start of the hole was recorded using a line of sight Suunto compass and Suunto clinometer by the site geologist. The orientation and dip of drillholes are measured with downhole surveys @ 15 m, 30 m, then every 30 m using a REFLEX single/multi-shot survey tool. End of hole surveys were also taken for each hole. At hole completion, all holes were gyro surveyed. Ballymore also employed a contract surveyor to survey the drillhole collars to sub-metre accuracy. • Ballymore underground drilling: Drillhole collar locations and planned azimuth were initially set out with a surveyor marking front and back sights. Upon completion, all underground drill holes were subsequently surveyed by contract surveyor to a sub- metre accuracy, with data supplied electronically as spreadsheets and pdf files. The azimuth and dip at the start of the hole

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CRITERIA	JORC Code Explanation	Commentary
		was using a REFLEX single/multi-shot survey tool and verified by the site geologist. The orientation and dip of drillholes are measured with downhole surveys @ 15 m, 30 m, then every 30 m using a REFLEX single/multi-shot survey tool. End of hole surveys were also taken for each hole. At hole completion, all holes were gyro surveyed.
	• Specification of the grid system used.	• The co-ordinate system used is MGA94 zone 55 Datum.
	• Quality and adequacy of topographic control.	• Quality of the surface topographic control data is poor and is currently reliant on public domain data.
DATA SPACING AND DISTRIBUTION	• Data spacing for reporting of Exploration Results.	• The Dittmer mine has not been previously drilled and the initial Ballymore drillholes were sited to test beneath historic workings and not conducted in a regular grid type pattern. The steep terrain also impacted the siting of drill sites. • The spacing of drillhole data is variable.
	• 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.	• There are no Mineral Resources or Ore Reserves. • There is insufficient drill spacing to establish the degree of geological and grade continuity appropriate for Mineral Resource and Ore Reserve estimation.
	• Whether sample compositing has been applied.	• No sample compositing was carried out on site. • For reporting purposes, some drillhole assay results have been composited together to report contiguous zones of mineralisation.
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.	• Drillholes were oriented to intersect the interpreted mineralisation zones as oblique (perpendicular) as possible. Orientated drill core collected by Ballymore has confirmed the orientation of drilling. • To the extent known, drilling is assumed to be unbiased.
	• 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.	• No sampling bias is considered to have been introduced in drilling completed.
SAMPLE SECURITY	• The measures taken to ensure sample security.	• Ballymore drilling: Drilling and sampling was supervised and undertaken by company staff. Samples were double bagged, palletised and shrink wrapped at the core shed before dispatch to the laboratory by Ballymore staff. • Ballymore underground channel and rock chip sampling: Sampling was supervised and undertaken by company staff. Samples were double bagged, palletised and shrink wrapped at site before dispatch to the laboratory by Ballymore staff.
AUDITS OR REVIEWS	• The results of any audits or reviews of sampling techniques and data.	• Ballymore drilling: Internal auditing procedures and reviews were regularly undertaken on sampling techniques,

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CRITERIA	JORC Code Explanation	Commentary
		standard operating procedures, and laboratory processes.

Section 2: Reporting of Exploration Results

CRITERIA	JORC Code explanation Commentary	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 Project tenements comprise ML 10340, ML 10341, EPM 14255, EPM 26912 and EPM 27282. All licences are 100% held by Ballymore Resources Ltd.
	• 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.	• All tenements are in good standing.
EXPLORATION DONE BY OTHER PARTIES	• Acknowledgment and appraisal of exploration by other parties.	• ML 10341 contains the Dittmer Mine, which worked the Duffer Lode from 1935 to 1951 and again from 1968 to 1970 to produce some 54,500 oz Au. • Previous exploration across the EPMs includes stream sediment sampling, geological mapping, soil sampling and geophysical surveys. The main exploration companies active in the area were CRA Exploration, St. Joseph Phelps Dodge Exploration, Carpentaria Exploration Co, Mines Administration, Buddha Gold Mines in joint venture with Homestake Gold, and Loch Neigh Gold.
GEOLOGY	• Deposit type, geological setting, and style of mineralisation.	• The Dittmer district is dominated by three main tectonostratigraphic sequences – Carboniferous intrusives, Permian volcanics and sediments, and Cretaceous intrusives. • Mineralisation is considered to be of IRGS style, with deposits often formed in structurally active areas where large crustal steep faults are intersected by other structures to produce active dilatant sites and deep plumbing systems during periods of intrusion and hydrothermal activity.
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: − Easting and northing of the drill hole collar. − Elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar. − Dip and azimuth of the hole. − Down hole length and interception depth. − Holelength.	• Refer to Appendix 3.
	• 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	• Refer to Appendix 3.

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CRITERIA	JORC Code explanation	Commentary
	report, the Competent Person should clearly explain why this 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.	• The mineralised drill intersections are reported as downhole intervals and were not converted to true widths. True widths may be up to 50% less than drill intersections pending confirmation of mineralisation geometry. • No capping of high grades was performed in the aggregation process.
	• 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 drill intercepts reported were calculated using a 0.1, 0.5, 1.0 and 10.0 g/t Au cut-off grade. Gold grade for the intercept was calculated as a weighted average grade. Up to 2 m (down hole) of internal waste (< 0.5 g/t Au) was included in some cases.
	• The assumptions used for any reporting of metal equivalent values should be clearly stated.	• No metal equivalents are reported.
RELATIONSHIP BETWEEN MINERALISATION WIDTHS AND INTERCEPT LENGTHS	• These relationships are particularly important in the reporting of Exploration Results.	• No local grid has been applied. The Duffer Lode at Dittmer strikes roughly north-south.
	• If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.	• Drillholes were generally oriented perpendicular to the strike of the shear zone and angled in order to intersect the moderately dipping mineralised zones at a high angle.
	• 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 mineralised intercepts generally intersect the interpreted dip of the mineralisation at a high angle but are not true widths.
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.	• Refer to figures contained within this report.
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.	• Balanced reporting of Exploration Results is presented within this report.
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.	• The Project includes exploration data collected by previous companies, including regional stream sediment geochemical data, soil sample and rock chip data, geological mapping data, drilling data, geophysical survey data, and costean data. Much of this data has been captured and validated into a GIS database. • Previous mining has been limited and involved very selective mining and hand sorting. No systematic data has historically been collected to assess metallurgy and mining parameters relevant to a modern operation. • Metallurgical tests of selected mineralised drill core and stope backfill material, including cyanide leach testwork, floatation testwork and gravity concentration tests were

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CRITERIA	JORC Code explanation	Commentary
		conducted by Ballymore in 2023. Cyanide leach testing work produced positive results ranging between 79% and 99%. Rougher flotation tests have reported positive results of 87.9% Au, 91.5% Ag and 85.0% Cu. Gravity concentration test work has also shown promise with gold recovery of 32.0% in Knelson and tabling concentration with an upgrade from 9.1g/t to 113.0g/t for the primary ore. • Further metallurgical work is warranted.
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).	• Ballymore plans to conduct surface geological mapping and geochemistry, geophysics surveys and drilling across various high-priority target areas over the next two years. In addition, the Company will continue to refurbish and dewater the Dittmer mine and assess options to recommence production.
	• Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	• Refer to figures contained within this report.

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