BELLAVISTA RESOURCES LTD — Regulatory Filings 2023

Jun 15, 2023

ASX: BVR June 16, 2023

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Clarification Announcement - Six holes completed with assays pending; Geophysics results awaited

Bellavista Resources Ltd (ASX:BVR) refers to the announcement released on 15 June 2023 titled “Six holes completed with assays pending; Geophysics results awaited” and which contains visual estimates, in the form of photos of core samples from diamond holes BRDD0006 and BRDD0007. The Company had overlooked one of the reporting requirements of visual estimates, that being ‘estimating the abundances of any minerals observed (in the form of a table with an estimate of the abundances at each interval of the applicable hole or sample)’.

A corrected announcement is attached, which includes an updated table in Appendix A setting out the visual estimates of sulphide abundances at each interval of the applicable holes (being BRDD0006 and BRDD0007).

This announcement was authorised for release by the board of directors.

Maddison Cramer

Company Secretary

ASX: BVR

Mel Ashton – Non-Executive Chairperson Michael Wilson – Executive Director Steven Zaninovich – Non-Executive Director Michael Naylor – Non-Executive Director Maddison Cramer – Company Secretary

ACN: 655 732 246 Principal and Registered Office: Level 2, 8 Richardson Street West Perth WA 6005

T: +61 8 6383 7556 E: info@bellavistaresources.com W: www.bellavistaresources.com

ASX: BVR June 15, 2023

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ASX ANNOUNCEMENT

Brumby zinc-silver-copper project, WA

Six holes completed with assays pending; Geophysics results awaited

Six holes drilled of up to 10 diamond holes at Brumby in Phase 2 diamond program; Major 2023 geophysics surveys completed both at Brumby and over regional targets on Vernon, Gorge Creek and East Abra Projects

HIGHLIGHTS

• Diamond drilling program to test several priority geophysical anomalies and structural targets is well advanced

• Coarse base metal bearing sulphides in veining seen in several holes, confirming potential for metal remobilisation/enrichment near regional structures*

• Core from the first three holes has been prepared for continuous XRF and subsequent analytical assaying, with core from the next three holes currently in transit to Perth

• Major geophysical surveys completed:

• Helicopter-borne VTEM Max has been flown over the entire Brumby Prospect area (80km²), a high-priority regional target on the Vernon Project (30km²) and the exciting Nova-style Nickel/PGE target area at Gorge Creek (100km²)

• Low-altitude fixed-wing aeromagnetics and radiometrics were also flown over the recently granted East Abra tenement, covering 30km of strike

• Two additional ANT Surveys using Fleet Space’s ExoSphere system have been undertaken at Brumby, as part of Bellavista’s ongoing R&D programs

• The data for these surveys is being finalised, processed and modelled

• Several anomalies of interest have already been noted in preliminary data

Bellavista Resources Ltd (ASX:BVR) is pleased to provide an update on the Phase 2 diamond drilling program at its Brumby Project in WA.

Bellavista Executive Director Mick Wilson said: “We are making strong progress in our 2023 drilling program to test several of the highly promising targets in the northern and western extensions of Brumby.

“The drilling so far has seen broader zones of mineralisation and promising evidence of base metal remobilisation and enrichment.

ASX: BVR

Mel Ashton – Non-Executive Chairperson Michael Wilson – Executive Director Steven Zaninovich – Non-Executive Director Michael Naylor – Non-Executive Director Maddison Cramer – Company Secretary

ACN: 655 732 246 Principal and Registered Office: Level 2, 8 Richardson Street West Perth WA 6005

T: +61 8 6383 7556 E: info@bellavistaresources.com W: www.bellavistaresources.com

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“The impending results of the major geophysical surveys completed in the past few weeks will further help us to close in on the best zones in what is clearly a huge mineralised system.”

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SP
SP
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Photos 1 & 2: Examples of field observations of coarse sphalerite (Sp- honey coloured mineral) remobilised in quartz-carbonate veins in diamond holes BRD0006 and BRD0007 drilled in northwestern extensions*

*Disclaimer: The visual occurrences of coarse base metal bearing sulphides in core have been included in this release in photos and commentary for geological context and are not to be considered by the reader as a substitute for assays. The Company cautions that visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analyses where concentrations or grades are the factor of principal economic interest. Visual estimates also potentially provide no information regarding impurities or deleterious physical properties relevant to valuations. The Company expects to receive the continuous XRF and assay results in batches over the coming weeks.

Diamond Drilling

Phase 2 drilling is progressing well after some weather delays relating to a late-season cyclone event that affected the region. The initial three diamond holes have intersected the mineralised zone at predicted depths, and over broad zones in the northern extensions (refer Appendix A for drill collar table).

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Figure 1: Position of Brumby Phase 2 diamond drilling collars in the Northern and Western extensions.

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For the first time at Brumby, the presence of coarse sulphides in quartz carbonate veining has been observed in several holes. This provides encouragement that possible enrichment via remobilisation, or via feeder structures, could be present in this zone, closer to the deep-tapping regional structures in the Brumby Project.

The core for the first three holes has been transported to Perth and prepared for continuous XRF using the Minalyze system. Zones of mineralisation in these holes will then be subject to analytical assay. The core from a further three holes is in transit to Perth, with drilling continuing in the northern and western extensions. Phase 2 drilling is expected to conclude this month.

Geophysics

The presence of high-tenor nickel and copper mineralisation, identified in the initial Phase 1 Minalyze data and subsequent petrology ( refer ASX release dated 8 March 2023 ), provided momentum to bring forward the budgeted and planned 2023 geophysical programs. These will provide a solid foundation of geophysical datasets to assist in prioritising additional drill targets both at Brumby and a series of highly prospective regional targets.

VTEM Max Electromagnetics

A helicopter-borne VTEM-Max survey has been completed over the entire Brumby Prospect (80km[2] ) and a priority structural target at Vernon (30km[2] ), both at 200m line spacing. A survey over the Gorge Creek area (100km[2] ) at 400m line spacing has also been flown.

Importantly, the surveys have been flown over mafic sills present within the Edmund Projects. These sills have been identified by Geoscience Australia to have similar characteristics to the sills that host the Nova-Bollinger nickel/copper deposits in the Fraser Range. Those deposits were discovered by drilling EM anomalies.

The VTEM surveys have now been completed, and the data is being finalised for interpretation and modelling. Several anomalies of interest have already been identified in the preliminary field data.

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Figure 2: Location of VTEM Max and Aeromagnetic surveys undertaken on the Edmund Projects during May and June.

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Photo 3: VTEM Survey (background) being flown over Brumby Project Area

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Photo 4: VTEM being flown near the Brumby access road

Fleet Space ExoSphere ANT Surveys

As part of Bellavista’s ongoing R&D collaboration with Fleet Space Technologies, two additional areas at Brumby were tested using Fleet’s real-time ExoSphere ANT System following a trial of the standard nodes in late 2022. Initially, 40 ExoSphere nodes were deployed over an 4km[2] area in the north-western portion of the Brumby Project. As data is delivered in real time via satellite links to Fleets’ ops centre, the survey was completed in under 3 days and could be re-deployed to a separate 2.5km[2] area, maximising the areas covered and data collection in the 10-day survey window.

The data from these ANT surveys is being processed and will be correlated to the VTEM data and surrounding drilling data to produce a 3D model of the basin, structure, basement and any additional blind velocity targets that potentially relate to higher grade or thicker sulphide accumulations in those survey areas.

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Photos 5 & 6: Fleet Space Technologies’ ExoSphere ANT nodes being deployed at Brumby.

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Aeromagnetics and Radiometrics

A fixed wing, low-altitude and close-spaced aeromagnetic and radiometrics survey has been completed at 100m line spacing over 407km[2] of the recently granted East Abra tenement. Data from this survey are currently being processed.

The East Abra Project covers a shallow portion of the eastern-most edge of Edmund Basin where the inferred contact between Proterozoic basement and the Archaean basement exists along the regionally significant Tangadee lineament. The Tangadee lineament is considered an important structural corridor for numerous precious and base metal deposit across the northern portion of WA. The East Abra Project covers a large anticline of basin sediments, draped on the eastern extensions of a large granitoid, in the same stratigraphy that hosts the Abra Deposit to the West.

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Figure 3: Location Map showing Bellavista’s Edmund Basin Project Tenure in WA.

About Brumby

Brumby sits within Bellavista’s Edmund Basin Projects, which cover approximately 140km of strike of the northern margin, with an additional 30km of strike on the East Abra Project on the southern margin of this highly prospective basin. The Projects include Brumby Deposit, Vernon Base Metals, Vernon Nickel/PGE, Gorge Creek and East Abra. The properties are prospective for large to super-large SEDEX base metal deposits, Abra-style IOCG Cu-Pb-Ag-Au deposits, sulphide related Nickel/PGE’s deposits sourced from Mafic/Ultramafic Intrusions and possible sediment hosted Uranium.

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Media

For further information, contact: Paul Armstrong - Read Corporate +61 8 9388 1474 For and on behalf of the Board.

Mr Mick Wilson

Executive Director Bellavista Resources Ltd Phone: +61 8 6383 7556

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About Bellavista Resources

Bellavista Resources Ltd (ASX: BVR) is an emerging mineral exploration company focused on finding world-class SEDEX, IOCG and sulphide related precious and base metal deposits in the UpperGascoyne Region of Western Australia.

The Edmund Basin Projects cover approximately 170km of strike of this highly prospective basin. The Projects include Brumby Deposit, Vernon Base Metals, Vernon Nickel/PGE, Gorge Creek and East Abra. The properties are prospective for Large to Super-Large SEDEX base metal deposits, Abra-style IOCG Cu-Pb-Ag-Au deposits and sulphide related Nickel/PGE’s deposits in Mafic/Ultramafic Intrusions.

Competent Persons Statement

The Information in this report that relates to Exploration Results is based on and fairly represents information and supporting documentation compiled by Mr Michael Wilson, a full-time employee and Executive Director of Bellavista Resources Ltd. Mr Wilson is a Competent Person and is a Member of the Australasian Institute of Mining and Metallurgy. Mr Wilson has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken 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 Wilson consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Mr Wilson is a shareholder of the Company and the Company does not consider this to constitute an actual or potential conflict of interest to his role as Competent Person due to the overarching duties he owes to the Company. Mr Wilson is not aware of any other relationship with Bellavista which could constitute a potential for a conflict of interest.

Certain Exploration Results referred to in this announcement were first reported in accordance with ASX Listing Rule 5.7 in the Company's Prospectus released to the ASX on 23/05/2022 and announcements of 12/12/2022, 15/02/2023, 8/3/2023 and 29/03/23. Bellavista confirms that it is not aware of any new information or data that materially affects the information included in the original announcements. The Company confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the original market announcements.

Disclaimers

References to previous ASX announcements should be read in conjunction with this release.

Photos and commentary in this announcement regarding coarse base metal bearing sulphides in core are included in this report for geological context and are not to be considered by the reader as a substitute for assays. All core will be subject to continuous XRF using the Minalyze™ system and mineralised intervals subsequently assayed at an analytical laboratory to provide assay results for those intervals.

Forward Looking Information

This release may contain certain forward-looking statements and projections, including statements regarding Bellavista’s plans, forecasts and projections with respect to its mineral properties and programs. Although the forward-looking statements contained in this release reflect management’s current beliefs based upon information currently available to it and based upon what management

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believes to be reasonable assumptions, such forward looking statements are estimates for discussion purposes only and should not be relied upon. They are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors many of which are beyond the control of the Company. The forward-looking statements are inherently uncertain and may therefore differ materially from results ultimately achieved. For example, there can be no assurance that Bellavista will be able to confirm the presence of Mineral Resources or Ore Reserves, that any plans for development of mineral properties will proceed, that any mineralisation will prove to be economic, or that a mine will be successfully developed on any of Bellavista’s mineral properties.

Bellavista’s performance may be influenced by a number of factors which are outside the control of the Company, its directors, staff or contractors. The Company does not make any representations and provides no warranties concerning the accuracy of the projections, and disclaims any obligation to update or revise any forward looking statements based on new information, future events or otherwise, except to the extent required by applicable laws.

APPENDIX A: Phase 2 Drill Collar Table

Hole ID	Easting	Northing	Elevation	Azimuth	Dip	Precollar	Precollar	Actual	Intervals1
						**type **	depth	EOH
BRRC0005	675091	7314218	455	0	-90	RC	502	722.8	502m-EOH (variable
									trace to 10% Total
									Sulphide content)
BRDD0003	675068	7313554	494	90	-80	DD	450	634	504m-530m
									(variable trace to
									15% Total Sulphide
									content)
BRDD0004	677850	7313328	531	0	-90	RCDD	346.6	464.3	TBA
BRRC0014	680507	7315270	459	320	-70	RC	263	615.8	TBA
BRRC0013	678987	7315205	457	180	-60	RC	214	494.8	TBA
BRRC0006	676253	7314590	490	0	-90	RC	490	616.5	TBA (Geological
									observation of
									coarse sphalerite
									[ZnS] between
									510.1m & 510.2m of
									between 1% and
									10% of the rock
									mass)
BRRC0007	677536	7314951	500	180	-70	RC	500	TBA	TBA (Geological
									observation of
									coarse sphalerite
									[ZnS] between
									527.4m & 527.6m of
									between 1% and
									10% of the rock
									mass)
BRDD0008	674918	7314771	450	180	-60	DD	0	TBA	TBA

Note:

1. All holes will be subject to continuous XRF to determine full extent of mineralised zones prior to analytical assaying of intercepts. No visual occurrences are reported in this release for holes BRDD0004-BRD0008. Refer to Photos 1 and 2 for BRDD0006 and BRDD0007.

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APPENDIX B: Table 1 – JORC Code 2012 Edition

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections)

Criteria		JORC Code explanation		Commentary
Sampling	•	Nature and quality of sampling (e.g. cut channels, random chips, or	Diamond Drilling
techniques		specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sounds, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling.	•	Commercial drilling contractors are conducting the DDH drilling (PXD Limited) – a total of 7 holes for 1500m still underway. Holes were orientated at various grid directions and were drilled at dips of between 70-90°.
	•	Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.	•	Drill hole locations were determined using a hand-held GPS. Several holes were cased for future downhole
	•	Aspects of the determination of mineralisation that are Material to the		surveys.
		Public Report.	•	Core is being sent to Perth and processed through the
	•	In cases where ‘industry standard’ work has been done this would be		Minalyzer CS continuous XRF scanner unit in Perth, WA.
		relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1m		Calibration samples will be selected and submitted to
		samples from which 3kg was pulverised to produce a 30g charge for fire		ALS(Perth) for standard geochemical assays. Samples
		assay’). In other cases more explanation may be required, such as where		consisted of 1/2 core splits from core. Assays were
		there is coarse gold that has inherent sampling problems. Unusual		determined using 4 acid digest + ICP/AES, ICP/MS. In
		commodities or mineralisation types (e.g. submarine nodules) may		Phase 1 diamond drilling, there was very high correlation
		warrant disclosure of detailed information.		between the ICP and XRF results.
			•	The samples are collected by and supervised at all times
				by Bellavista staff.
			•	The samples were under the direct control of Bellavista
				staff at all times and were transported and to the
				laboratory by a commercial logistics contractor.
			Passive Seismic Program
			•	A trial passive seismic survey was deployed by Bellavista
				Staff covering a 300m x 300m grid over an 4km² and
				2.5km2areas of the Brumby Target.
			•	The data will be collated and analysed by our seismic
				partner Fleet Space.

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Criteria		JORC Code explanation		Commentary
Drilling	•	Drill type (e.g. core, reverse circulation, open- hole hammer, rotary air	•	DDH and Reverse Circulation (RC) was the drilling
techniques		blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or		methods chosen.
		standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc.).	•	Diamond HQ and NQ drill core was collected using double tube and all other industry practice methods.
			•	RC was collected as 1m intervals with a 2kg split
				sample collected off the rig using a conical splitter
				directly from the rig.
			•	DD core samples selected from the core and cut with a
				core saw to produce half core for laboratory assay.
Drill sample	•	Method of recording and assessing core and chip sample recoveries and	•	Sample weight and recoveries were observed during the
recovery		results assessed.		drilling and any poor recovery was recorded.
	•	Measures taken to maximise sample recovery and ensure representative	•	Samples were checked by the geologist. Any issues were
		nature of the samples.		discussed with the drilling contractor.
	•	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.
Logging	•	Whether core and chip samples have been geologically and	•	The drill core is stored in core trays in Perth, and
		geotechnically logged to a level of detail to support appropriate Mineral		comprehensively logged and sampled.
		Resource estimation, mining studies and metallurgical studies.	•	Visual estimates of the proportion of sulphides: From
	•	Whether logging is qualitative or quantitative in nature. Core (or costean,		systematic logging of HQ and NQ diamond drill core, the
		channel, etc.) photography.		visual estimate of the total amount of sulphide
	•	The total length and percentage of the relevant intersections logged.		(pyrite+sphalerite+other) in individual metre intervals ranges from 0.01% to 30%.
			•	The relative proportion of each sulphide species present
				in each metre interval is estimated to range from absent
				to 50% of the total amount of sulphide present. The
				amount of sulphide and the relative proportions of the
				sulphide species from metre to metre are highly variable
				and a detailed estimate of this variability is not possible
				within the limits of acceptable accuracy. The metal grades
				of the core shall be determined by assay. The sulphides
				occurasfine disseminations andrandomly oriented,

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Criteria		JORC Code explanation		Commentary
				penetrative veins and blebs. The veins range from 0.1mm
				to 10cm thick. The sulphide is accompanied by one or
				more of the following gangue minerals in variable
				proportions: quartz, siderite and carbonate.
			•	The visual estimates are estimates only and fine sulphide
				may be under-estimated, where present. Identification of
				the sulphide species and visual estimates of the
				proportions of those sulphide species present have been
				made by two geologists with more than 20 years of
				experience each in base metal exploration.
Sub- sampling	•	If core, whether cut or sawn and whether quarter, half or all core taken.	•	The preparation of DDH follow industry practice. This
techniques and sample preparation	• •	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.	•	involves oven drying, pulverization of total sample using LM5 mills until 85% passes 75 micron. The laboratory’s standard QA/QC procedures were carried out.
	•	Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.	•	The sample sizes are considered appropriate to the grain size of the material being sampled.
	•	Measures taken to ensure that the sampling is representative of the in situ	•	Repeatability of assays will be assessed upon receipt.
		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.
Quality of assay	•	The nature, quality and appropriateness of the assaying and laboratory	•	Not applicable as no assay results reported.
data and		procedures used and whether the technique is considered partial or total.
laboratory tests	•	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.

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Criteria		JORC Code explanation		Commentary
Verification of	•	The verification of significant intersections by either independent or	•	Results will be verified by Bellavista company
sampling and		alternative company personnel.		management.
assaying	•	The use of twinned holes.	•	Geological data was collected using loggers, which
	•	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Discuss any adjustment to assay data.		detailed geology (weathering, structure, alteration, mineralisation), sample quality, sample interval, sample number and QA/QC inserts (standards, duplicates, blanks) into the numbering sequence. This data,
				together with the assay data received from the
				laboratory, and subsequent survey data were entered
				into secure databases and verified.
Location of data	•	Accuracy and quality of surveys used to locate drill holes (collar and	•	The drill collar positions were determined using a GPS
points		down-hole surveys), trenches, mine workings and other locations used in		(±5m).
		Mineral Resource estimation.	•	Grid system is MGA94.
	•	Specification of the grid system used.	•	Surface RL data collected using GPS and Google Earth.
	•	Quality and adequacy of topographic control.	•	Variation in topography is approximately 20-50m
				within the drill zone.
			•	All drill pads will become visible on future Google Earth
				images.
Data spacing	•	Data spacing for reporting of Exploration Results.	•	Drill holes were positioned to test specific parts of a
	•	Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral		SEDEX system and designed to intersect rocks lying within a stratigraphic target zone.
		Resource and Ore Reserve estimation procedure(s) and classifications	•	Previous drilling conducted by Rio Tinto in 1997-98. No
		applied.		oriented DDH drilling had been conducted by anyone on
	•	Whether sample compositing has been applied.		the Brumby Project prior to Bellavista commencing drilling operations in June 2022.
			•	Two phases of drilling have subsequently been
				conducted.
			•	The drilling has been conducted in a manner consistent
				with the procedures set out in this JORC table.

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Criteria		JORC Code explanation		Commentary
Orientation of	•	Whether the orientation of sampling achieves unbiased sampling of	•	Surface sampling and the position of the drill holes and
data in relation		possible structures and the extent to which this is known, considering the		sampling techniques and intervals are considered
to geological		deposit type.		appropriate for the early- phase exploration of the
structure	•	If the relationship between the drilling orientation and the orientation of key		mineralisation styles sort.
		mineralised structures is considered to have introduced a sampling bias,	•	The distribution of base metals is known to be variably
		this should be assessed and reported if material.		enriched and depleted within weathering and in an
				overall HEBS SEDEX system. At Brumby, the limited
				areas drilled to date is not sufficient to suggest a positive
				or negative bias, and the large system at Brumby, as
				defined by mapping and geophysical surveys (over
				30km²), has yet to be fully investigated on the ground
				because of the large areal extent of the system.
Sample security	•	The measures taken to ensure sample security.	•	Chain of Custody is managed by Bellavista staff and its
				contractors. For Brumby, the samples were freighted
				directly to the laboratory with appropriate documentation
				listing sample numbers, sample batches, and required
				analytical methods and element determinations. For the
				DDH Core, samples were freighted to Bellavista’s Perth
				Core Shed for preparation for continuous XRF at
				Minalyze and selected samples forwarded to the
				laboratory for analytical assay (results pending).
Audits or	•	The results of any audits or reviews of sampling techniques and data.	•	No additional QA/QC has been conducted for the drilling
reviews				or surface sampling to date.

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Section 2 Reporting of Exploration Results (Criteria listed in the preceding section also apply to this section)

Criteria		JORC Code explanation	Commentary	Commentary
Mineral	•	Type, reference name/number, location and ownership including	•	The Brumby Project is located on tenements Bellavista
tenement and		agreements or material issues with third parties such as joint ventures,		owns 100%.
land tenure status	•	partnerships, overriding royalties, environmental settings. The security of the tenure held at the time of reporting along with any	•	The mineral tenements are in good standing and Bellavista is expected to meet its expenditure for the
		known impediments to obtaining a licence to operate in the area.		coming year.
			•	There are no known impediments to operating in this
				area, however field activities are curtailed due to heat
				during the Summer months.
			•	The target area is situated in a relatively remote part of
				the Upper Gascoyne, and can be accessed by vehicle
				for the majority of the year (subject to cyclone season).
Exploration	•	Acknowledgment and appraisal of exploration by other parties.	•	At Brumby, previous exploration has occurred in the
done by other				form of mapping, drilling and geophysical surveys prior
parties				to Bellavista’s involvement. Refer Prospectus for further
				details.
Geology	•	Deposit type, geological setting and style of mineralisation.	•	The Brumby Project is considered to be prospective for
				zinc, copper, silver, molybdenum and vanadium HEBS
				sediment hosted mineralisation, SEDEX-style
				mineralisation with possible IOCG style at depth.
Drill hole	•	A summary of all information material to the understanding of the	•	Refer to Appendix A and photos 1 and 2 illustrating
Information		exploration results including a tabulation of the following information for all		presence of coarse sphalerite in diamond core note in
		Material drill holes:		several holes in the northern portions of Brumby, close
		• easting and northing of the drill hole collar • elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar		to regional structures. These are included for geological context, illustrating evidence for remobilization and/or enrichment associated with structure or feeders associated with structure.
		• dip and azimuth of the hole
		• down hole length and interception depth

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Criteria		JORC Code explanation	Commentary	Commentary
		• 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 clearly explain
		why this is the case.
Data	•	In reporting Exploration Results, weighting averaging techniques, maximum	•	Refer to Bellavista’s previous announcements.
aggregation methods		and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated.	•	Bellavista is not aware of any new information or data that materially affects the information in these
	•	Where aggregate intercepts incorporate short lengths of high grade results		announcements.
		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.
Relationship	•	These relationships are particularly important in the reporting of	•	The drilling is initially designed to ‘prove concept’ that a
between		Exploration Results.		large mineralised system is present across the entire
mineralisation widths and intercept lengths	• •	If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. 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’).	•	area at the Brumby Project. The geology (lithological associations, metal associations, alteration zonation patterns) has been determined to be consistent with the styles of mineralisation sort.
			•	Sedimentary systems are generally broad in all
				dimensions and mineralised drill intercepts are generally
				treated as true-widths given the size of the system and
				the pervasive nature of the mineralisation (10’s of metres
				thick and kilometres wide). Historical results do not
				reflect that the more intense mineralisation in the SEDEX
				system has been intersected so far.
Diagrams	•	Appropriate maps and sections (with scales) and tabulations of intercepts	•	Appropriate maps and diagrams of the survey
		should be included for any significant discovery being reported. These		information have been included in the body of this
		should include, but not be limited to a plan view of drill hole collar locations		announcement.
		and appropriate sectional views.

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Criteria		JORC Code explanation	Commentary	Commentary
Balanced	•	Where comprehensive reporting of all Exploration Results is not	•	Refer to Bellavista’s previous announcements.
reporting		practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	•	Bellavista is not aware of any new information or data that materially affects the information in these announcements.
Other	•	Other exploration data, if meaningful and material, should be reported	•	Aeromagnetics: Geochemical Surveys and Mapping by
substantive		including (but not limited to): geological observations; geophysical survey		Rio Tinto (1997-98). Refer to Bellavista’s prospectus for
exploration		results; geochemical survey results; bulk samples – size and method of		full details.
data		treatment; metallurgical test results; bulk density, groundwater,
		geotechnical and rock characteristics; potential deleterious or
		contaminating substances.
Further work	•	The nature and scale of planned further work (e.g. tests for lateral	•	Bellavista is compiling, assessing and reviewing all data
		extensions or depth extensions or large-scale step-out drilling).		from the maiden 2022 diamond and RC drilling
	• •	Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.		programs. Phase 2 RC drilling commenced in the fourth quarter of 2022, following a Heritage Survey to clear the area prior to drilling. Phase 2 DDH drilling commenced in late April 2023, was halted due to an unseasonal cyclone event and recommenced in May 2023.
			•	Bellavista has undertaken further trial passive seismic
				survey to determine if the technique is suitable for
				identifying the contrast between the host basin and the
				mineralised unit, and to define structural traps in 3
				dimensions. Data are being processed.
			•	A VTEM survey commenced mid-May 2023 over the
				entire Brumby Prospect and several regional targets.
				Data are being processed for modelling.
			•	At Brumby, Bellavista continues to drill test geological
				and geophysical targets.

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