BLACK CAT SYNDICATE LIMITED — Capital/Financing Update 2021

Sep 1, 2021

ASX ANNOUNCEMENT 2 September 2021

Maiden Resources Grow Kal East to 1.2Moz

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Black Cat Syndicate Limited (“ Black Cat ” or “ the Company ”) is pleased to announce an update to the Majestic Mining Centre JORC 2012 Mineral Resource (“ Resource ” or “ Resources ” as applicable).

HIGHLIGHTS

• Two maiden Resources, Crown and Jones Find , have added 95,000 oz within 1.5km of the planned 800,000tpa processing facility at the Majestic Mining Centre.

• There has been no previous mining on either deposit, which have been converted into Resource at a combined discovery cost of less than $4/oz .

• These new shallow Resources total 2.2Mt @ 1.4g/t Au for 95,000 oz and increase total Resources at the Kal East Gold Project (“Kal East”) to 17.5Mt @ 2.1 g/t Au for 1.2Moz .

• Both Resources remain open along strike and at depth with extensional drilling at Jones Find to begin this week.

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Figure 1: Plan of Majestic Mining Centre with current Resources and targets for growth (yellow)

Black Cat’s Managing Director, Gareth Solly said: “The maiden Resources for Crown and Jones Find are within 2km of our planned processing facility at the Majestic Mining Centre so are high priority for our proposed mine plans. Neither deposit has seen modern mining and both are open along strike and at depth and will feature in future extension and upgrade drilling programs.

Current drilling programs are infilling and growing the Majestic underground and Fingals open pit Resources. Furthermore, extensional drilling at Jones Find is commencing this week and drilling at the Crown deposit is expected in the December 2021 quarter. Additional discovery drilling is planned on multiple exploration targets at Kal East in 2021”.

BLACK CAT SYNDICATE LIMITED (ASX:BC8) DIRECTORS A: Level 3, 52 Kings Park Road, West Perth WA 6005 Paul Chapman Non-Executive Chairman PA: PO Box 184, West Perth WA 6872 Gareth Solly Managing Director T: +61 458 007 713 | E: admin@blackcatsyndicate.com.au Philip Crutchfield Non-Executive Director W: www.blackcatsyndicate.com.au Les Davis Non-Executive Director ABN: 63 620 896 282 Tony Polglase Non-Executive Director

CORPORATE STRUCTURE

Ordinary shares on issue: 140.8M Market capitalisation: A$86M (Share price A$0.61) Cash (30 June 2021): A$16M

Maiden Resources Grow Kal East to 1.2Moz

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ZERO TO OVER 1 MIILION OUNCES

From listing in January 2018, Black Cat has steadily built Resources from zero to over 1 million ounces through a combination of discovery, acquisition, and extensional drilling. This has been achieved at an estimated discovery cost of ~A$21/oz and an acquisition cost of A$6.5/oz.

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Figure 2: Black Cat’s Resource growth to ~1.2Moz in less than 4 years since listing in January 2018

Table 1: Total Kal East Resources split by mining centre*

Resource by Mining Centre	Tonnes	Grade	Contained Au
	'000 tonne	g/t	'000 ounces
Myhree	2,880	2.8	259
Majestic	7,313	2.0	472
Fingals	3,681	1.9	222
Trojan	2,115	1.7	115
Other	1,461	2.5	117
Total Resource	17,450	2.1	1,185

* Small discrepancies may occur due to rounding.

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Maiden Resources Grow Kal East to 1.2Moz

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CROWN (M25/360) 100%

Crown is located on a granted mining lease 1.5km south of the planned 800,000tpa Kal East processing facility. There has been no previous mining at Crown. The proximity of the 61k oz Resource at Crown to the planned processing facility makes this a potential baseload feed source.

Crown is a similar style of mineralisation to other deposits in the area (e.g. Imperial/Majestic and Sovereign) with a number of narrow stacked lodes that strike north, dipping steeply to the west.

Table 2: Total Crown Resource by potential mining method*

Crown Resource	Cut-Off	Category	Tonnes	Grade	Contained Au
			'000 tonne	g/t	'000 ounces
Open Pit (<75m below surface)	0.70 g/t	Inferred	1,382	1.4	62
Total Resource			1,382	1.4	62
*Small discrepancies may occur due to rounding.

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Figure 3: Oblique view of the Crown mineralisation trend, showing the classified Resource at Crown, along with the open potential along strike

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Maiden Resources Grow Kal East to 1.2Moz

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JONES FIND (P25/2323) 100%

Jones Find is located on a prospecting lease <2km east of the planned 800,000tpa Kal East processing facility. Like Crown, the proximity of the 33k oz Resource makes this deposit a potentially attractive mining proposition. Jones Find saw small scale workings in the 1930’s.

Jones Find consists of two deposits - North and South, separated by an inferred fault. At this stage, the current Resource has only been calculated for the northern area.

A drilling program will commence during the next week to extend and infill known mineralisation at both the North and South deposits. It is anticipated that Resources at Jones Find will increase on the back this drilling as widely spaced drilling outside Jones Find North has already intersected shallow mineralisation along strike (Figure 4), while Jones Find South has demonstrated mineralisation in need of follow up drilling. In addition, infill drilling is planned for the March 2022 quarter to upgrade Jones Find for inclusion in future mining plans.

Table 3: Total Jones Find Resource by potential mining method*

Jones Find Resource	Cut-Off	Category	Tonnes	Grade	Contained Au
			'000 tonne	g/t	'000 ounces
Open Pit (<50m below surface)	0.70 g/t	Inferred	775	1.3	33
Total Resource			775	1.3	33
*Small discrepancies may occur due to rounding.

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Figure 4: Oblique view of the Jones Find mineralisation trend, showing the classified Resource at Jones Find, along with the open potential along strike

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Maiden Resources Grow Kal East to 1.2Moz

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CROWN RESOURCE - SUPPORTING INFORMATION

Geology and Geological Interpretation

Crown is located at the southern end of the Kurnalpi Terrane (formerly the Gindalbie Terrane) on the western limb of the Bulong Anticline. Regionally, Imperial/Majestic/Sovereign sits within a zone of the volcanic and volcaniclastic felsics that form part of the Eastern Goldfields Superterrane greenstone. The area is bounded to the east by the Juglah Monzogranite - an oval-shaped intrusion emplaced into a domed sequence of felsic to intermediate volcaniclastic and volcanic rocks. Directly to the south, the area is cut by a series of dolerite and gabbro dykes running ENE that form part of the Widgiemooltha Supersuite.

Lithology

Crown is characterised by a lack of topographical relief and is covered by recent alluvium and colluvium up to 4m deep. The area is dominated by altered granodiorite which hosts the mineralisation. To the immediate south of Crown, mineralisation appears to be truncated by the ENE trending Celebration dyke that forms part of the Widgiemooltha Supersuite.

Alteration over Crown appears to be middle green schist facies regional metamorphism which has generated new assemblages of plagioclase-actinolite-biotite-quartz-clinozoisite-ilmenite-sphene-chlorite-sulphides (pyrite, chalcopyrite, pyrrhotite).

Mineralisation is associated with narrow quartz sulphide veins and sulphide veinlets that trend roughly north south and dip steeply to the west. Mineralised structures are observed at surface.

The mineralisation remains open in all directions.

Historic Workings

No historic workings have been observed over the Crown Resource. Regionally, the area has significant workings with historic, small scale shafts and shallow pits dotting the area. Recent open pit mining by Silver Lake Resources occurred at Imperial/Majestic from 2016 to 2018 approximately 1.5km to the northeast.

Drilling Techniques

The majority of drilling was completed by WMC Resources in the early 1990’s, with 49 RC and four diamond holes completed. RC holes were drilled by conventional reverse circulation percussion drilling using a Universal 650 D11 Schramm drill rig.

Newcrest Mining completed 1 RC hole in 2006.

Sampling and Sub Sampling Techniques

Historical drilling and sampling by WMC Resources has been assessed as industry standard quality for the time. Drill samples were collected per metre within bags, before being riffle split down to a sample size of around 3kg for analysis. Subsampling was completed by the WMC Resources laboratory in Kalgoorlie after drying, crushing and pulverising the sample. A 25g subsample was then taken for digestion with aqua regia. Gold was extracted using aliquot di-isobutyl ketone and the solvent backwashed. Gold concentration was determined using atomic absorption.

Newcrest Mining sampling was completed to industry standard. Composites of 4m were initially assayed with 1m re-split samples analysed for any anomalous intervals. Pulverising to p80 75µm, subsampling and analysis was completed by an independent commercial laboratory (Genalysis). Gold was analysed by 50g fire assay, with selected samples retested with Screen Fire Assay.

An in-depth review of all available data was completed by Black Cat prior to estimation. This included comparisons of; available duplicate results, between various WMC Resources campaigns, WMC Resources to Newcrest Mining results and fire assay versus screen fire assays. Overall, the review indicated that the results performed well, with no systematic bias or issues raised within the bulk of the sampling. There did appear to be a bias/variability in grades above 6g/t Au. However these results came from only 10 samples from all duplicates reviewed. Variations within assays at higher grades are also expected and regularly observed within the area due to the nuggety/coarse gold nature of the high-grade shoots. At Crown, the bulk of the mineralisation is lower grade, with ~3% of mineralised samples >6g/t Au. Due to the observations above, and the fact that higher grades did not appear to be spatially connected, a conservative approach to estimation of grades was taken with a global top cut of 6g/t Au applied to all domains.

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Criteria Used for Resource Estimation

The Resource is classified as Inferred. This was decided based on the drill spacing, relative confidence in the data (as discussed above) and the continuity of mineralisation/grades. The drill holes used consisted of 50 RC holes and four diamond holes for a total of 5,732m. Drilling has all been completed at a dip of 60° to the east. Mineralisation has been drilled on a line spacing ranging from 40m to 50m and along lines ranging from 20m to 40m.

Estimation Methodology

Wireframes of mineralisation and weathering, guided by geological understanding, were constructed in Leapfrog, and validated in all orientations.

Drill hole data was composited downhole to 1m within respective mineralisation domains using hard boundaries with a variable sample length method. This kept the sample intervals as close to a set length (1m) as possible, in this case with no residuals.

Estimation domains with high Coefficient of Variation (>2) or extreme outliers were investigated with extreme grade limitation techniques to manage their impact on the Ordinary Kriging estimate. Due to variability in duplicate grade results for results above 6 g/t Au (see discussion above), a conservative top cutting strategy of a global 6 g/t Au top cut was applied to all domains.

Variograms were modelled within a combined domain of all mineralisation, where cohesive experimental variogram could be obtained using normal score transformed data. These variograms were back transformed and then applied to the individual domains where a structured variogram could not be calculated.

The block model was constructed in Leapfrog EDGE with block sizes of 5m x 25m x 5m (x, y, z directions), based on drill hole spacing, with subblocks allowed down to 0.625m x 3.125m x 1.25m to honour model volumes. Estimation of the mineralised domains was completed using Ordinary Kriging into the Parent Blocks with 5 x 5 x 5 discretisation points. This was considered the most appropriate method with respect to the observed continuity of mineralisation, spatial analysis and dimensions of the domains defined by drilling.

Bulk density values were applied according to regolith type and are based off density measurements of diamond core from the nearby Imperial/Majestic deposit.

The Resource was validated through comparison of input assay data against the modelled grades. This was completed by checking the global averages of each domain, visually checking the spatial distributions of grade and assessing swath plots in the three major orientations.

Cut-Off Grades

Resources are reported at a 0.7 g/t Au lower cut-off grade for open pit. The open pit cut-off value has been calculated from first principals. Open pit depth was assigned using the depth of optimised pits shells, at 75m below surface. No underground Resources have been reported at this time.

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Figure 5: Oblique image looking NW showing Resource classification (blue=Indicated, green=Inferred, grey=Unclassified) for Crown

Mining and Metallurgical Parameters

No minimum width was applied to the Resource. Minimum widths are assessed and applied during the Ore Reserve estimation process. It is assumed that planned dilution is factored into the process at the stage of Ore Reserve and open pit planning.

No metallurgical factors were applied to the Resource, as this is also considered during Ore Reserve calculation. Metallurgical testwork is yet to be completed, reflected in the Inferred classification of the Resource. Testwork will be completed as part of the ongoing work to bring Crown into the life of mine plan.

Relevant Previous ASX Announcements for Crown:

Date	Announcement	Significance
28/05/2020	BC8 makes Strategic Transaction with SLR & Boosts Resources	Acquisition of project
02/07/2020	Completion of Strategic Transaction with Silver Lake Resources	Ownership of project

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JONES FIND RESOURCE - SUPPORTING INFORMATION

Geology and Geological Interpretation

The Jones Find deposit is located at the southern end of the Kurnalpi Terrane (formerly the Gindalbie Terrane) on the western limb of the Bulong Anticline. Regionally, Jones Find sits within a zone of the volcanic and volcaniclastic felsics that form part of the Eastern Goldfields Superterrane greenstone. The area is located within the Juglah Monzogranite - an oval-shaped intrusion emplaced into a domed sequence of felsic to intermediate volcaniclastic and volcanic rocks. To the south, the area is cut by a series of dolerite and gabbro dykes running ENE that form part of the Widgiemooltha Supersuite.

Lithology

Jones Find is characterised by a lack of topographical relief and is covered by recent alluvium and colluvium. Based on historic mine dumps and available exposed areas the tenement is considered to contain mainly a northerly striking, steeply dipping sequence of quartz-sericite-clay and quartz sericite biotite rocks which are frequently sheared and schistose, as observed, in the vicinity of the old workings. These rocks are believed to be metamorphosed felsic dykes. The weathering profile exists across the deposit down to 20 to 35m depth and displays supergene enrichment around this interface.

The mineralisation remains open in all directions.

Structure

Structurally, Jones Find is located on the eastern flank of the south plunging Bulong anticline. The western margin of the granite to granodiorite phase pluton coincides with a major northwest striking shear (Majestic shear/fault). Jones Find is inferred to lie on a subsidiary splay of this major shear zone.

Mineralisation

Locally, the granitoid exhibits intense shear related deformation, which is associated with alteration haloes of up to 100m in width. The following four styles of gold mineralisation have been recognised at Jones Find:

1. Narrow vein gold hosted within quartz vein zones associated with shearing and biotite/sericite alteration. Most old workings are developed in these zones.

2. Auriferous stockworks containing 5-20% quartz veins in granite with more felsic and dioritic phases.

3. Quartz-biotite-clay ± albite alteration associated with anomalous gold assays ranging from 0.1 g/t gold to 0.4 g/t gold.

4. Supergene gold mineralisation within the saprolitic zone.

Historic Workings

Gold at Jones Find was originally identified in the 1930’s when nuggets were uncovered during installation of a sheep station fence. There are minor workings on quartz reefs which have also been exposed as a stockwork of quartz veins in a 300m costean. Historical production details are unknown, and the historical mining is not in the vicinity of the current Resource.

Drilling Techniques

Between the early 1980’s and acquisition by Black Cat in 2020, exploration over the Jones Find area was carried out by several companies. Significant RAB drilling programmes were completed by Indian Ocean Resources in 1988 and Croesus Mining in 1995. RC programmes were completed by Bedrock Mining in 1989, Titan Resources in 1995; and Fairstar Resources in 2007. Integra Mining drilled a series of RAB holes around the periphery of the area in 2011.

Black Cat has completed 20 holes for 1,918m of RC drilling to confirm the previous drilling and to extend the Resource. Black Cat holes now account for ~25% of the drilling.

RAB holes were excluded from the Resource estimate, other than to guide the supergene mineralisation wireframes.

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Sampling and Sub Sampling Techniques

Black Cat’s RC drill chips were collected directly from a cone splitter on the drill rig and automatically fed into pre-numbered calico bags. All sample intervals though mineralisation were sampled at 1m, with a target sample weight of 2-3kg. The splitter and cyclone were cleaned and levelled at the beginning of every hole and cleaned at regular intervals during drilling. Observations of sample size and quality were made while logging. The holes were logged for lithology and alteration and chips were collected and photographed in chip trays for archiving.

All samples were crushed, dried and pulverised to a nominal 90% passing 75µm to produce a 40g sub sample

for analysis by fire assay/AAS.

A combination of certified reference materials, coarse blanks and duplicates were included in the sampling submitted to the laboratory. Every 100 samples include two blanks, two duplicates and five certified reference standards. An acceptable level of precision and accuracy was observed.

Drilling by Fairstar Resources was by RC percussion. Sampling was conducted at 1m intervals. Samples had the lab code AR40_ICPMS with 0.001 ppm detection limit recorded, which is likely to be a 40g aqua regia digest for gold with ICP-MS finish at Bureau Veritas Kalassay Lab in Kalgoorlie.

For drilling by Titan Resources, a face sampling hammer was utilised. Drill samples were collected in plastic bags, via a cyclone as individual metres. Samples, 1m and composites, were split with a 75:25 riffle splitter and submitted for total preparation fire assay gold analysis.

Drilling by Bedrock Mining used an RC hammer from surface to base of oxidation. Penetration rates generally necessitated the use of a conventional hammer bit at greater depths. Samples were collected at 1m intervals into plastic bags via a cyclone and composited to 2m splits for analysis. Analytical samples were collected by tube sampling, except in intervals with strongly heterogeneous particle size, such as quartz stockwork veins within clay, which were riffle split. Samples were submitted to Genalysis Laboratories of Perth, and analysed for Au by AAS, following aqua regia sample digestion.

Criteria Used for Resource Estimation

The Resources are currently classified as Inferred. The drill holes used consisted of 73 RC holes for a total of 6,802m. Over the history of Jones Find, drilling has generally been completed at a dip of 60° to the east. Mineralisation has been drilled on a spacing ranging from 50m x 20m to 50m x 50m.

Estimation Methodology

Wireframes of mineralisation and weathering, guided by geological understanding, were constructed in Leapfrog, and validated in all orientations.

Drill hole data was composited downhole to 1m within respective mineralisation domains using hard boundaries with a variable sample length method. This kept the sample intervals as close to a set length (1m) as possible, in this case, with no residuals.

Estimation domains with high Coefficient of Variation (>2) or extreme outliers were investigated with extreme grade limitation techniques to manage their impact on the Ordinary Kriging estimate. Topcuts (globally cap a grade at a certain value for all of the domain) were used where the outliers were spatially isolated with no other surrounding high-grades.

Due to narrow nature and limited samples in many lodes, variograms were modelled within major lode groupings for the primary narrow vein gold, where cohesive experimental variograms could be obtained using normal score transformed data. These variograms were back transformed and then applied to the respective individual domains where a structured variogram could not be calculated. Individual variograms were also modelled and applied for the supergene and stockwork lodes. Variograms and the resultant search ellipses were orientated parallel to the observed dip and strike for each domain.

The block model was constructed in Leapfrog EDGE with block sizes of 10m x 20m x 5m (x, y, z directions), based on drill hole spacing, with subblocks allowed down to 1m x 2m x 1m to honour model volumes. Estimation of the mineralised domains was completed using Ordinary Kriging into the Parent Blocks with 5 x 5 x 5 discretisation points. This was considered the most appropriate method with respect to the observed continuity of mineralisation, spatial analysis and dimensions of the domains defined by drilling. A total of 44 mineralised domains were modelled.

Bulk density values were applied according to regolith type and are based off density measurements of diamond core from the nearby Imperial/Majestic deposit.

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The Resource was validated through comparison of input assay data against the modelled grades. This was completed by checking the global averages of each domain, visually checking the spatial distributions of grade and assessing swath plots in the three major orientations.

Cut-Off Grades

Resources are reported at a 0.7 g/t Au lower cut-off grade for open pit. The open pit cut-off value has been calculated from first principals. Open pit depth was assigned using the depth of optimised pits shells, at 50m below surface. No underground Resources have been reported at this time.

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Figure 6: Oblique image looking NW showing Resource classification (blue=Indicated, green=Inferred, grey=Unclassified) for Jones Find North

Mining and Metallurgical Parameters

No minimum width was applied to the Resource. Minimum widths are assessed and applied during the Ore Reserve estimation process. It is assumed that planned dilution is factored into the process at the stage of Ore Reserve and open pit planning.

No metallurgical factors were applied to the Resource, as this is also considered during Ore Reserve calculation. Metallurgical testwork is yet to be completed, reflected in the Inferred classification of the Resource. Testwork will be completed as part of the ongoing work to bring Crown into the life of mine plan.

Relevant previous ASX announcements for Jones Find:

Date	Announcement	Significance
29/05/2020	Black Cat Further Expands Strategic Tenements at Fingals and Bulong	Acquisition of project
23/06/2020	Acquisition of South Three Project	Ownership of project
30/10/2020	Thick High-Grade Results In and Around Imperial/Majestic	Maiden Drilling results

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PLANNED DRILLING

Black Cat intends to drill a further ~45,000m before the end of 2021, focussed on Resource growth, Ore Reserve definition and discovery potential across Kal East.

Black Cat’s ongoing drilling program is progressing well. RC drilling has recently focussed on upgrading Inferred Resources to Indicated, as well as early testing of regional targets. Black Cat intends to drill, report and update Resources on an ongoing basis.

In line with the industry generally, assay results are slow in their turnaround and Black Cat has seen a steady increase in assay backlogs. Black Cat will continue to manage sample priorities until laboratory labour deficiencies improve.

RC and diamond drilling activity will focus on the following programs through 2021:

• Majestic Mining Centre: Resource extensions and infill drilling of the planned underground mine and potential open pits;

• Fingals Mining Centre: Resource extensions and infill drilling of the planned open pit;

• Myhree Mining Centre: Grade control and infrastructure sterilisation;

• Trojan Mining Centre: Resource extensions and exploration follow up;

• Other Areas: Resource infill and extensions and exploration drilling at Rowe’s Find, Black Hills and Wombola.

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Chart 1: Black Cat’s drilling plan with progress on drill metres and assay results showing an increase in assay backlogs

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RECENT AND PLANNED ACTIVITIES

Upcoming activities include:

Planned Activities	Aug 21	Sep 21	Oct 21	Nov 21	Dec 21
RC and diamond drilling
Milling facility servicing
Updated Resources and Ore Reserves
Ongoing acquisition of major equipment components
Tailings storage facility approval
Environmental works approval
Fingals mining approval (required for 2023)
Annual Audited Financial Statements
Quarterly report
Annual General Meeting

For further information, please contact:

Gareth Solly

Managing Director +61 458 007 713

admin@blackcatsyndicate.com.au

This announcement has been approved for release by the Board of Black Cat Syndicate Limited.

COMPETENT PERSON’S STATEMENT

The information in this release that relates to the Exploration Results and Mineral Resources is based on information compiled by Mr Iain Levy. Mr Levy is a holder of shares and options in, and is a full-time employee of, the Company. Mr Levy is a Member of the Australasian Institute of Mining and Metallurgy and has sufficient experience with the style of mineralisation, deposit type under consideration, and to the activities 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 (The JORC Code). Mr Levy consents to the inclusion in this report of the contained technical information in the form and context in which it appears.

The Company confirms that it is not aware of any new information or data that materially affects the information in the original reports, and that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original reports.

Where the Company refers to Exploration Results or Mineral Resources in this report (referencing previous releases made to the ASX), it confirms that it is not aware of any new information or data that materially affects the information included in that announcement and all material assumptions and technical parameters underpinning the information with that announcement continue to apply and have not materially changed.

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ABOUT BLACK CAT SYNDICATE (ASX: BC8)

Black Cat’s Kal East Gold Project comprises ~800km[2] of highly prospective tenements to the east of the world class mining centre of Kalgoorlie, WA. Kal East contains a combined JORC 2012 Mineral Resource of 17.5Mt @ 2.1 g/t Au for 1,185,000 oz which is mainly located in the Myhree, Majestic, Fingals and Trojan Mining Centres.

Black Cat plans to construct a central processing facility near the Majestic Mining Centre, ~50kms east of Kalgoorlie. This location is well suited for a processing facility and sits within a short haulage distance of the bulk of Black Cat’s Resources. The processing facility will be a traditional carbon-in-leach gold plant which is ideally suited to Black Cat’s Resources as well as to third party free milling ores located around Kalgoorlie.

Black Cat is well advanced on securing key, long lead time items. High quality Outokumpu ball mills and associated infrastructure have already been purchased and relocated. After servicing in Kalgoorlie, the mills will be relocated to the Majestic Mining Centre. Other key components have also been identified for procurement and Black Cat intends to secure all items needed to allow for production to commence in the second half of 2022.

Black Cat’s extensive ground position contains a pipeline of projects spanning from exploration targets on new greenstone belts, Resource extensions around historic workings and study work for the definition of maiden Ore Reserves.

Black Cat is actively growing and upgrading the current Resources with ongoing drilling programs underway and delivering results.

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Regional map of Kalgoorlie showing the location of the Kal East Gold Project as well as nearby infrastructure

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TABLE 4: DRILL RESULTS

All significant intercepts are reported at 1 g/t Au cut; maximum of 1m continuous internal dilution.

Crown RC and Diamond Drilling - Historical	Crown RC and Diamond Drilling - Historical	Crown RC and Diamond Drilling - Historical	Crown RC and Diamond Drilling - Historical	Crown RC and Diamond Drilling - Historical					Downhole	Downhole
	MGA	MGA				From		To	Interval	Au Grade
Hole ID	East	North	RL	Dip	Azimuth	(m)		(m)	(m)	(g/t)
MJCC027	397537.13	6579857	354.2	60	89.73				No Significant Intercepts
MJCC028	397497.97	6579857	354.6	60	89.73	14	15		1	1.28
MJCC029	397457.5	6579857	353.3	60	89.73	33	34		1	6.10
						41	42		1	1.15
						45	47		2	1.85
						67	70		3	9.99
MJCC030	397407.88	6579857	352	60	89.73	19	20		1	1.29
						68	69		1	1.23
						78	80		2	7.35
MJCC031	397497.01	6579957	354.1	60	89.73				No Significant Intercepts
MJCC032	397377.86	6579857	352.4	60	89.73	0	1		1	9.50
						8	9		1	1.21
						20	21		1	1.65
						32	33		1	1.42
						35	36		1	2.09
						41	43		2	2.14
						45	46		1	1.73
						64	65		1	1.46
MJCC033	397337.38	6579857	353	60	89.73	39	40		1	2.18
						47	48		1	1.78
						79	80		1	1.83
						84	86		2	2.95
MJCC034	397457.84	6579957	353.2	60	89.73	14	17		3	1.93
						48	49		1	3.40
MJCC035	397417.44	6579949	351.9	60	89.73	7	8		1	1.51
						27	28		1	2.23
						50	51		1	1.22
						56	57		1	1.44
MJCC036	397376.89	6579957	351.4	60	89.73	14	15		1	4.70
						20	22		2	3.21
						44	45		1	2.12
						57	58		1	2.04
						68	69		1	1.05
						76	77		1	1.90
MJCC037	397377.24	6580057	351	60	89.73	29	30		1	4.90
						61	65		4	1.15
						74	78		4	1.32
MJCC038	397338.07	6580057	350.9	60	89.73	18	19		1	2.65
						29	32		3	1.01
						36	38		2	10.95
						41	43		2	1.64
						49	54		5	2.25
						56	59		3	2.67
						66	70		4	1.94
						72	73		1	1.07
						75	76		1	1.04
						78	80		2	4.28
MJCC039	397297.6	6580057	351.8	60	89.73	61	62		1	2.08
MJCC040	397437.91	6579857	352.6	60	89.73	80	81		1	1.62
						86	87		1	1.23
						102	103		1	2.04
MJCC041	397387	6579857	352.2	60	89.73	29	33		4	2.31
						35	36		1	1.77
						39	43		4	2.23
						49	50		1	1.30

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Crown RC and Diamond Drilling - Historical	Crown RC and Diamond Drilling - Historical	Crown RC and Diamond Drilling - Historical	Crown RC and Diamond Drilling - Historical	Crown RC and Diamond Drilling - Historical					Downhole	Downhole
	MGA	MGA				From		To	Interval	Au Grade
Hole ID	East	North	RL	Dip	Azimuth	(m)		(m)	(m)	(g/t)
						53	55		2	1.13
						57	62		5	2.97
						64	65		1	1.21
						68	69		1	2.35
						106	107		1	1.39
						108	109		1	1.03
MJCC042	397296.91	6579857	354.6	60	89.73	31	32		1	1.25
						65	66		1	1.49
						71	72		1	1.79
						78	79		1	1.02
MJCC043	397337.73	6579957	351.7	60	89.73	40	41		1	1.45
						46	47		1	1.03
						58	60		2	1.47
						63	64		1	1.85
						66	68		2	2.58
						75	82		7	2.23
						84	86		2	1.16
						89	90		1	1.71
MJCC044	397297.25	6579957	353.1	60	89.73	39	40		1	1.56
						47	48		1	1.13
						83	84		1	1.74
						94	95		1	1.06
MJCC045	397455.71	6579907	353.4	60	89.73	17	18		1	1.06
						34	37		3	2.71
						79	80		1	1.69
						97	98		1	1.21
MJCC046	397417.85	6579907	352.1	60	89.73	7	8		1	1.15
						12	13		1	1.12
						16	17		1	1.92
						84	85		1	1.47
MJCC047	397377.45	6579899	351.9	60	89.73	22	23		1	1.21
						30	31		1	1.51
						33	34		1	1.37
						38	39		1	1.82
						43	44		1	4.60
						55	58		3	1.93
						79	81		2	1.70
MJCC048	397334.27	6579909	352.4	60	89.73	22	23		1	1.87
						38	39		1	1.15
						66	69		3	1.54
						72	73		1	1.14
						77	81		4	1.53
						89	92		3	1.45
						97	98		1	1.00
MJCC049	397297.77	6579904	354.2	60	89.73	43	44		1	1.04
						52	53		1	1.26
						93	94		1	2.05
MJCC050	397297.39	6579807	354.9	60	89.73				No Significant Intercepts
MJCC051	397337.87	6579807	353.4	60	89.73	34	37		3	2.87
						79	80		1	1.24
MJCC052	397377.03	6579807	352.8	60	89.73	29	31		2	1.90
						37	38		1	1.59
						47	48		1	1.10
						60	61		1	1.11
						97	98		1	1.73
MJCC053	397417.5	6579807	352.3	60	89.73	4	6		2	2.47
						90	93		3	2.12
MJCC054	397457.98	6579807	352.3	60	89.73	42	43		1	1.72

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Crown RC and Diamond Drilling - Historical	Crown RC and Diamond Drilling - Historical	Crown RC and Diamond Drilling - Historical	Crown RC and Diamond Drilling - Historical	Crown RC and Diamond Drilling - Historical					Downhole	Downhole
	MGA	MGA				From		To	Interval	Au Grade
Hole ID	East	North	RL	Dip	Azimuth	(m)		(m)	(m)	(g/t)
						45	46		1	4.60
						80	81		1	1.37
						83	84		1	1.42
MJCC055	397321.1	6580057	351.2	60	89.73	59	60		1	1.20
						65	68		3	2.44
						72	77		5	3.20
						85	86		1	1.12
						90	91		1	1.37
						93	94		1	1.15
						101	104		3	1.09
MJCC056	397456.88	6580057	351	60	89.73	34	35		1	3.82
						69	70		1	2.98
						79	80		1	1.42
MJCC057	397417.71	6580057	351.1	60	89.73	7	8		1	2.11
						16	18		2	1.27
						26	27		1	2.44
						29	30		1	3.27
						42	43		1	1.18
MJCC090	397357.31	6579957	351.5	60	89.73	25	26		1	1.21
						28	29		1	1.96
						34	35		1	1.43
						39	42		3	2.27
						46	47		1	3.18
						53	55		2	1.62
						64	65		1	1.11
						69	70		1	1.17
						82	84		2	2.21
						95	97		2	4.20
MJCC122	397357.65	6580057	351	60	89.73	16	17		1	1.61
						28	31		3	4.30
						37	38		1	2.82
						47	48		1	1.25
						73	74		1	1.27
						79	82		3	1.66
						92	93		1	1.96
						97	98		1	5.10
MJCC175	397337.3	6580137	351	60	89.73	42	43		1	2.24
						92	93		1	1.30
MJCC176	397317.71	6580137	351.2	60	89.73				No Significant Intercepts
MJCC196	397296.83	6580137	351.4	60	89.73	90	92		2	3.54
MJCC232	397377.77	6580137	351.1	60	89.73	88	89		1	1.65
MJCC233	397376.85	6580097	351.1	60	89.73	52	54		2	2.99
						95	96		1	1.88
MJCC234	397337.68	6580097	351	60	89.73	70	71		1	1.56
						83	84		1	3.62
						98	99		1	1.10
MJCC235	397297.21	6580097	351.5	60	89.73				No Significant Intercepts
MJCC236	397372.54	6580002	351.2	60	89.73	20	21		1	2.16
						23	24		1	1.06
						41	42		1	1.32
						71	72		1	1.22
						74	75		1	1.63
						84	85		1	1.97
						91	92		1	1.59
MJCC237	397337.25	6580007	351.3	60	89.73	50	51		1	1.70
						59	60		1	1.01
						62	73		11	2.05
						79	80		1	2.86

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Crown RC and Diamond Drilling - Historical	Crown RC and Diamond Drilling - Historical	Crown RC and Diamond Drilling - Historical	Crown RC and Diamond Drilling - Historical	Crown RC and Diamond Drilling - Historical					Downhole
	MGA	MGA				From		To	Interval	Au Grade
Hole ID	East	North	RL	Dip	Azimuth	(m)		(m)	(m)	(g/t)
						84	85		1	13.40
						89	90		1	1.17
						100	101		1	1.29
						108	109		1	1.04
						111	112		1	2.14
MJCC238	397307.27	6580002	351.6	60	89.73	37	39		2	5.35
						76	77		1	1.30
						89	90		1	1.15
						93	94		1	1.04
						98	99		1	1.29
						108	109		1	1.97
MJCC239	397487.28	6579747	352.9	60	89.73	23	26		3	1.85
MJCC240	397446.82	6579745	353.2	60	89.73	27	28		1	1.04
						38	39		1	1.06
						70	71		1	2.16
						73	74		1	1.23
MJCC241	397407.64	6579747	353.3	60	89.73	32	33		1	7.20
						112	113		1	9.30
MJCC242	397367.17	6579747	353.4	60	89.73	30	31		1	4.14
						50	51		1	1.14
						62	63		1	3.71
						66	67		1	1.47
						81	82		1	1.23
MJCC243	397307.11	6579747	354.4	60	89.73	65	66		1	1.23
						67	68		1	1.22
						110	111		1	2.88
MJCC244	397356.97	6579857	352.7	60	89.73	10	11		1	1.06
						30	32		2	2.11
						53	54		1	1.22
						68	69		1	1.32
						89	90		1	1.39
MJCD088	397319.79	6580057	351.2	60	89.73	62	63		1	1.20
						77	79		2	3.15
						89	90		1	5.50
						94	95		1	1.13
MJCD089	397327.28	6579957	351.8	60	89.73	68	69		1	1.46
						76	78		2	8.35
						81	84		3	4.07
						90	95		5	5.43
						97	99		2	2.72
						104	107		3	2.92
						135	136		1	3.04
MJCD197	397277.67	6579957	354.1	60	89.73	132	139		7	1.85
						144	149		5	1.74
						157	159		2	4.51
						162	163		1	2.07
						166	170		4	1.21
						181	182		1	1.19
MJCD245	397317.8	6579857	353.9	60	89.73	38	39		1	2.53
						98	99		1	3.03
						110	113		3	1.21
						120	121		1	2.20
						140	141		1	8.60
						154	155		1	5.60
						160	161		1	2.70
						164	165		1	1.34
						171	172		1	2.10
						177	180		3	2.29

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Crown RC and Diamond Drilling - Historical	Crown RC and Diamond Drilling - Historical	Crown RC and Diamond Drilling - Historical	Crown RC and Diamond Drilling - Historical	Crown RC and Diamond Drilling - Historical					Downhole
	MGA	MGA				From		To	Interval	Au Grade
Hole ID	East	North	RL	Dip	Azimuth	(m)		(m)	(m)	(g/t)
						194	195		1	3.30
NCMRC022	397198	6579956	353.5	58	89.73	155	156		1	1.75
						207	208		1	1.39
						209	212		3	1.10
						220	221		1	3.56
						223	224		1	1.16
						227	228		1	1.13
						231	234		3	5.14
						243	244		1	1.60
						247	248		1	3.21
						274	275		1	2.39

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APPENDIX A - JORC 2012 RESOURCE TABLE - BLACK CAT (100% OWNED)

The current in-situ, drill-defined Resources for the Kal East Gold Project are listed below.

	Measured Resource	Measured Resource	Measured Resource	Indicated Resource	Indicated Resource	Indicated Resource	Inferred Resource	Inferred Resource	Inferred Resource	Total Resource	Total Resource	Total Resource
Deposit	Tonnes	Grade	Metal	Tonnes	Grade	Metal ‘	Tonnes	Grade	Metal ‘	Tonnes	Grade (g/t Au)	Metal (‘000s oz)
	(‘000s)	(g/t Au)	(000s oz)	(‘000s)	(g/t Au)	(000s oz)	(‘000s)	(g/t Au)	(000s oz)	(‘000s)
Myhree Mining Centre
Open Pit	-	-	-	964	2.7	83	863	1.8	50	1,827	2.3	132
Underground	-	-	-	230	4.6	34	823	3.5	93	1,053	3.8	127
Sub Total	-	-	-	1,194	3.0	117	1,686	2.6	143	2,880	2.8	259
Majestic Mining Centre
Open Pit	-	-	-	2,083	1.6	104	4,127	1.4	185	6,209	1.4	289
Underground	-	-	-	627	4.9	100	476	5.5	84	1,103	5.2	184
Sub Total	-	-	-	2,710	2.3	204	4,603	1.8	268	7,313	2.0	472
Fingals Mining Centre
Open Pit	-	-	-	1,818	1.8	106	1,576	1.7	88	3,394	1.8	194
Underground	-	-	-	0	0.0	0	283	3.0	27	287	3.0	28
Sub Total	-	-	-	1,818	1.8	106	1,859	1.9	116	3,681	1.9	222
Trojan
Open Pit	-	-	-	1,356	1.8	79	760	1.5	36	2,115	1.7	115
Sub Total	-	-	-	1,356	1.8	79	760	1.5	36	2,115	1.7	115
Other Resources
Open Pit	13	3.2	1.0	200	2.6	17	1,134	2.3	85	1,347	2.4	103
Underground	-	-	-	0	0.0	0	114	3.8	14	114	3.8	14
Sub Total	13	3.2	1.0	200	2.6	17	1,248	2.5	99	1,461	2.5	117
TOTAL Resource	13	3.2	1.0	7,278	2.2	522	10,156	2.0	661	17,450	2.1	1,185
1. The preceding statements of Miner	al Resource	s conforms	to the ‘Aust	ralasian Co	de for Reporting of Exploration Res			ults Mineral	Resources	and Ore Re
2012 Edition’.
2. All tonnages reported are dry metric	tonnes.
3. Data is rounded to thousands of ton	nes and tho	usands of o	unces gold. Discrepancies in totals may occur due to rounding.
4. Resources have been reported as b	oth open pit and underground with varying cut-offs based off several factors discussed in the corresponding Table 1 w
the original ASX announcements fo	r each Resource.
5.
The announcements containing the Table	1 Checklists of Assessment and Reporting Criteria relating for the 2012 JORC compliant Resources are:
1. Myhree Mining Centre:
o Boundary – Black C
o Trump – Black Cat
o Myhree – Black Cat
o Strathfield – Black
2. Majestic Mining Centre:
o Majestic – Black Ca
o Sovereign – Black
o Imperial – Black Ca
o Jones Find - Black
o Crown - Black Cat A
3. Fingals Mining Centre:
o Fingals Fortune – B
o Fingals East – Blac
4. Trojan Mining Centre:
o Trojan – Black Cat
5. Other Resources:
o Queen Margaret –
o Melbourne United –
o Anomaly 38 – Black
o Wombola Dam – Bl
o Hammer and Tap –
o Rowe’s Find – Blac

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CROWN JORC TABLE 1

Section 1: Sampling Techniques and Data

CROWN JORC TABLE 1	CROWN JORC TABLE 1	CROWN JORC TABLE 1
Section 1: Sampling Techniques and Data
Criteria	JORC Code Explanation	Commentary
Sampling techniques	Nature and quality of sampling (eg 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.	Drilling has been almost exclusively competed by WMC Resources during the early 1990’s. RC is the predominant source of information, with a number of diamond holes also drilled to confirm mineralisation and geology. Newcrest drilled a single RC hole at Crown in 2006. Black Cat plans to conduct its maiden drill campaign at Crown in December 2021 Quarter.
	Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.	All available drilling information has been reviewed in detail, with no information being found to question the quality of data. Drilling is believed to have been carried out to industry standard. The duplicate information that was found for Crown was within acceptable limits. The classification of Inferred accounts for any uncertainty in the data.
	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 (eg ‘reverse circulation drilling was used to obtain 1m samples from which 3kg was pulverised to produce a 30g 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.	WMC Resources reverse circulation drilling collected as a bulk sample in 1m intervals. This was split in the field using a riffle splitter to approximately 3kg samples. All samples were dried, crushed, pulverised and split to produce a 25g sample for digestion with aqua regia. Gold was extracted using aliquot Di-isobutyl ketone and the solvent backwashed. Gold concentration was determined using Atomic Absorption. Newcrest RC drilling was completed to industry standard. Four metre composites were spear sampled for initial analysis, with 1m samples collected at the time of drilling analysed for any anomalous intervals. Pulverising was to p80 75µm, with subsampling and analysis completed by an independent commercial laboratory - Genalysis. Gold was analysed by 50g Fire Assay, with selected samples retested with Screen Fire Assay.
Drilling techniques	Drill type (eg 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).	RC drilling was completed using a face sampling percussion hammer.
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed.	Recovery for RC was not recorded for WMC Resources, while sample dampness was recorded for RC drilling, with the majority of samples recorded as dry. Newcrest recorded both sample recovery and dampness, with good recovery for the majority of drilling, and most samples being dry. No bias or relationship between sample recovery or dampness and grade has been observed during data review.
	Measures taken to maximise sample recovery and ensure representative nature of the samples.	Unknown. This is reflected in the Inferred classification of the Resource.
	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.	There is no known relationship between sample recovery and grade.

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Section 1: Sampling Techniques and Data

Maiden Resources Grow Kal East to 1.2Moz	Maiden Resources Grow Kal East to 1.2Moz	Maiden Resources Grow Kal East to 1.2Moz
Section 1: Sampling Techniques and Data
Criteria	JORC Code Explanation	Commentary
Logging	Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.	All drilling was logged in detail, with the paper logs from annual reports reviewed and checked against the digitised data. No photographs are available.
	The total length and percentage of the relevant intersections logged.	All drilling has been logged in full.
Sub-sampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken.	Diamond core samples were half core.
	If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.	RC sampling was completed on 1m samples. The full metre was collected and then riffle split on site to create a representative sample of approximately 3kg. As per logging, sampling was generally dry. Newcrest RC drilling was completed to industry standard. Four metre composites were spear sampled for initial analysis, with 1m samples collected at the time of drilling analysed for any anomalous intervals.
	For all sample types, the nature, quality and appropriateness of the sample preparation technique.	Sample preparation for MWC is believed to adhere to industry standard at the time. It was conducted by WMC Resources’ Kalgoorlie laboratory and involved oven drying, coarse crushing then pulverising in Tema Swing Mills. Sample preparation for Newcrest is considered industry standard, with samples prepared by an independent commercial laboratory – Genalysis. Samples were dried, crushed and pulverised to p80 75µm.
	Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.	No data is available for subsampling QAQC. This is reflected in the Inferred classification of the Resource.
	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.	An in-depth review of all available data was completed by Black Cat prior to estimation. This included comparisons of; available duplicate results, between various WMC Resources campaigns, WMC Resources to Newcrest results, and fire assay versus screen fire assay. Overall the review indicated that the results performed well, with no systematic bias or issues raised within the bulk of the sampling. There did appear to be a bias/variability in grades above 6g/t, however these results came from only 10 samples from all duplicates reviewed. Variations within assays at higher grades are also expected and regularly observed within the area due to the nuggety/coarse gold nature of the high-grade shoots. At Crown, the bulk of the mineralisation is lower grade, with only ~3% of mineralised samples above 6g/t. Due to the observations above, and the fact that higher grades did not appear to be spatially connected, a conservative approach to estimation of grades was taken with a global top cut of 6 applied to all domains.
	Whether sample sizes are appropriate to the grain size of the material being sampled.	Unknown. This is reflected in the Inferred classification of the Resource.
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.	WMC Resources assays were completed with a 25g sample for digestion with aqua regia. Gold was extracted using aliquot Di-isobutyl ketone and the solvent backwashed. Gold concentration was determined using Atomic Absorption. Newcrest assays were completed by an independent commercial laboratory - Genalysis. Gold was analysed by 50g Fire Assay, with selected samples retested with Screen Fire Assay.
	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 were used in this Mineral Resource.

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Section 1: Sampling Techniques and Data

Maiden Resources Grow Kal East to 1.2Moz	Maiden Resources Grow Kal East to 1.2Moz	Maiden Resources Grow Kal East to 1.2Moz
Section 1: Sampling Techniques and Data
Criteria	JORC Code Explanation	Commentary
	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.	As above, all duplicate data has been reviewed with no material concerns identified.
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel.	Limited significant results (considered as grades above 6 g/t Au for Crown) have been reported within the results. These have been top cut to 6 g/t Au during resource estimation as discussed above.
	The use of twinned holes.	Twinning both by RC and diamond has been completed by WMC Resources. Twined results are within the expected level of variation based on the experience of similar deposits in the area.
	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.	Digital data was reviewed against the hard copies of logs and assays presented in Annual reports.
	Discuss any adjustment to assay data.	No adjustments have been made to the assay data.
Location of data points	Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.	A set of detailed survey lines was surveyed prior to the commencement of WMC Resources’ drilling at Crown, with all holes surveyed from these lines. Black Cat has undertaken a review of the locations in the field and verified the location of identified collars with GPS. No issues were found with identified collars generally within 4 metres of the recorded location. Down-hole surveys were not completed for RC drilling. Unknown (assumed single shot) surveys were completed for diamond drilling. While downhole surveys are now considered standard for RC drilling, the depth (<100m) and spacing of the drilling, coupled with the global nature and classification of the Resource, this is not considered a material concern. Newcrest’s drilling was surveyed with GPS. This is considered an appropriate level of accuracy for an Inferred Resource. The rig was aligned with a clino and compass, with Downhole surveys completed for dip with an Eastman single shot. The level of accuracy in the survey data is consider appropriate for an Inferred Resource.
	Specification of the grid system used.	WMC Resources drilling was surveyed in AGD84 AMG Zone 51. All collars were converted to GD94 MGA Zone 51 prior to estimation. Newcrest holes were surveyed in GDA94 MGA Zone 51.
	Quality and adequacy of topographic control.	A topographic surface was compiled using the collar surveys. Due to the flat lying nature of the relief, it is considered sufficiently accurate for an Inferred Mineral Resource.
Data spacing and distribution	Data spacing for reporting of Exploration Results.	The nominal drill hole spacing is 50m x 40m, with every alternate drill line infilled to 50m by 20m spacing.
	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.	It is sufficient.
Orientation of data in relation to geological structure	Whether sample compositing has been applied.	Exploration results are reported as composite above a 1 g/t Au cut-off, allowing for 1m of continuous waste between samples. For estimation, drill hole data has been composited downhole to 1m prior to the geostatistical analysis, continuity modelling and grade estimation process. The compositing has been run within the respective mineralisation domains using these as hard boundaries.

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Section 1: Sampling Techniques and Data

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Section 1: Sampling Techniques and Data
Criteria	JORC Code Explanation	Commentary
	Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.	Drilling is angled towards the east at -60 to intersect the mineralised zones. Holes drilled parallel to mineralisation were excluded. These orientations are acceptable given the moderately dipping nature of the mineralisation.
	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.	All drilling from surface has been drilled as close to perpendicular to the predicted orientation of mineralisation as possible. This has reduced the risk of introducing a sampling bias as far as possible. No orientation-based sampling bias has been identified in the data at this point.
Sample security	The measures taken to ensure sample security.	Sample security is unknown, however due to the comparatively low grades for the time it is unlikely that the holes have been tampered with.
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	No known audits have been completed. Black Cat has reviewed all available information.

Section 2: Reporting of Exploration Results

Section 2: Reporting of Exploration Results	Section 2: Reporting of Exploration Results	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 Mineral Resources are located on M 25/360 which is held by Black Cat until 2037. Two miscellaneous licences held by Silver Lake Resources run through the prospect, L 25/037 (just north of Crown along the Trans Access Road) and L25/049 (through the deposit housing a haul road). An access agreement is place with Silver Lake for these miscellaneous licences. All production is subject to a Western Australian state government Net Smelter Return (“NSR”) royalty of 2.5%. An additional NSR of up to 1% is payable to third parties. There are no registered Aboriginal Heritage sites or pastoral compensation agreements over the tenements. M 25/360 is located within the Majestic Timber Reserve, a Class C timber reserve. Black Cat is currently filing an application to allow exploration activities in the area, and does not believe it is an impediment to mining.
	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.	As stated above, Crown is within the Majestic Timber Reserve. While conduction exploration and mining activities within the timber reserve need special approvals, there is currently no reason to believe that it would be an impediment to mining. The tenements are all in good standing.
Exploration done by other parties	A_cknowledgment and appraisal of exploration by other_ parties.	The earliest drilling activities in the Crown area were five reverse circulation holes drilled by an unknown company in an unknown year. Western Mining Corporation (WMC Resources) drilled the majority of the reverse circulation holes between 1991 and 1994. Newcrest Mining Limited (Newcrest) drilled one reverse circulation hole in 2006 and a series of RAB holes in 2006 to 2007. There has been no significant historical mining at Crown.
Geology	Deposit type, geological setting and style of mineralisation.	Crown is located at the southern end of the Kurnalpi Terrane (formerly the Gindalbie Terrane) on the western limb of the Bulong Anticline. Regionally, Imperial/Majestic/Sovereign sits within a zone of the volcanic and volcaniclastic felsics that form part of the Eastern Goldfields Superterrane greenstone. The area is bounded to the east by the Juglah Monzogranite - an oval-shaped intrusion emplaced into a domed sequence of felsic to intermediate volcaniclastic and volcanic rocks. Directly to the south, the area is cut by a series of dolerite and gabbro dykes running ENE that form part of the Widgiemooltha Supersuite.

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Section 2: Reporting of Exploration Results

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Section 2: Reporting of Exploration Results
Criteria	JORC Code Explanation	Commentary
		Locally, Crown is characterised by a lack of topographical relief and is covered by recent alluvium and colluvium up to 4m deep. The area is dominated by altered granodiorite which hosts the mineralisation. To the immediate south of Crown, mineralisation appears to be truncated by the ENE trending Celebration dyke that forms part of the Widgiemooltha Supersuite. Alteration over the prospect appears to be middle green schist facies regional metamorphism which has generated new assemblages of plagioclase-actinolite-biotite-quartz- clinozoisite-ilmenite-sphene-chlorite-sulphides (pyrite, chalcopyrite, pyrrhotite). Mineralisation is associated with narrow quartz sulphide veins and sulphide veinlets that trend roughly north south and dip steeply to the west. Mineralised structures are observed at surface. The mineralisation remains open in all directions.
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 Reduced Level (“RL”) (elevation above sea level in metres) of the drill hole collar; − dip and azimuth of the hole; − down hole length and interception depth; − hole length; and − 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.	Table containing drill hole collar, survey and intersection data are included in the body of the announcement.
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.	All aggregated zones are length weighted. No high-grade cuts have been used.
	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.	All intersections are calculated using a 1 g/t Au lower cut-off with maximum waste zones between grades of 1m, except where stated in the body of the report.
	The assumptions used for any reporting of metal equivalent values should be clearly stated.	Not applicable, as no metal equivalent values have been reported.
Relationship between mineralisation widths and intercept lengths	These relationships are particularly important in the reporting of Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.	All intercepts are reported as downhole depths as true widths are not yet determined.

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Section 2: Reporting of Exploration Results

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Section 2: Reporting of Exploration Results
Criteria	JORC Code Explanation	Commentary
	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’).
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.	Appropriate diagrams have been included in the body of the announcement.
Balanced reporting	Where comprehensive reporting of all Exploration. Results are not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	All results have been tabulated in this announcement.
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.	Geophysical surveys including aeromagnetic surveys have been carried out by previous owners to highlight and interpret prospective structures in the project area. No geophysics was used in the production of the Mineral Resource.
Further work	The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step- out drilling). Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	Black Cat plans to conduct exploration in the area to confirm the current interpretation and target extensions to the currently modelled mineralisation. This will be completed when government approvals have been provided to drill in the timber reserve.

Section 3: Estimation and Reporting of Mineral Resources (Criteria listed in Section 1, and where relevant in Section 2, also apply to this section.)

Section 3: Estimation and Reporting of Mineral Resources(Criteria listed in Section 1, and where relevant in Section 2, also applyto this section.)	Section 3: Estimation and Reporting of Mineral Resources(Criteria listed in Section 1, and where relevant in Section 2, also applyto this section.)	Section 3: Estimation and Reporting of Mineral Resources(Criteria listed in Section 1, and where relevant in Section 2, also applyto this section.)
Criteria	JORC Code Explanation	Commentary
Database integrity	Measures taken to ensure that data has not been corrupted by, for example, transcription or keying errors, between its initial collection and its use for Mineral Resource estimation purposes. Data validation procedures used.	Data has been stored in an SQL server database. Historic data has been checked against hard copies of the data as reported in annual reports to the Department of Mines and Petroleum.
Site visits	Comment on any site visits undertaken by the Competent Person and the outcome of those visits. If no site visits have been undertaken indicate why this is the case.	The Competent Person regularly visits the Kalgoorlie East Gold Project, which Crown is a part of. Crown was specifically visited in August 2021. The visit entailed geological check mapping, verification of collar locations, and a general review of the site.

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Section 3: Estimation and Reporting of Mineral Resources (Criteria listed in Section 1, and where relevant in Section 2, also apply to this section.)

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Section 3: Estimation and Reporting of Mineral Resources(Criteria listed in Section 1, and where relevant in Section 2, also applyto this section.)
Criteria	JORC Code Explanation	Commentary
Geological interpretation	Confidence in (or conversely, the uncertainty of) the geological interpretation of the mineral deposit. Nature of the data used and of any assumptions made. The effect, if any, of alternative interpretations on Mineral Resource estimation. The use of geology in guiding and controlling Mineral Resource estimation. The factors affecting continuity both of grade and geology.	The resource categories assigned to the model directly reflect the confidence of the geological interpretation, that was constructed based primarily on the geological understanding of the area. Wireframes of the mineralisation were constructed using cross sectional interpretations based on a 0.5 g/t Au cut-off grade with no minimum downhole length. Some holes with <0.5 g/t Au were included to ensure consistent geological continuity. The geological interpretation has considered all available geological information. RC and Diamond drilling was used during interpretation and estimation. No RAB or AC has been completed in the immediate area of the Crown Resource.
Dimensions	The extent and variability of the Mineral Resource expressed as length (along strike or otherwise), plan width, and depth below surface to the upper and lower limits of the Mineral Resource.	The Resource extends over a strike length of 425m, is 240m across (individual lodes range from 1m to 6m width) and extends 200m down dip. It is open at depth, along strike to the south and north.
Estimation and modelling techniques	The nature and appropriateness of the estimation technique(s) applied and key assumptions, including treatment of extreme grade values, domaining, interpolation parameters and maximum distance of extrapolation from data points. If a computer assisted estimation method was chosen include a description of computer software and parameters used. The availability of check estimates, previous estimates and/or mine production records and whether the Mineral Resource estimate takes appropriate account of such data. The assumptions made regarding recovery of by-products. Estimation of deleterious elements or other non-grade variables of economic significance (e.g. sulphur for acid mine drainage characterisation). In the case of block model interpolation, the block size in relation to the average sample spacing and the search employed. Any assumptions behind modelling of selective mining units. Any assumptions about correlation between variables. Description of how the geological interpretation was used to control the resource estimates. Discussion of basis for using or not using grade cutting or capping. The process of validation, the checking process used, the comparison of model data to drill hole data, and use of reconciliation data if available.	Gold grade was estimated using Leapfrog EDGE and was completed using ordinary kriging. It was considered that a more robust geological model with smoother and more continuous mineralised lodes will reduce the effects of higher CV. Estimation was carried out on the parent cell with 5x5x5 discretisation points. Variograms were generated for all mineralisation, with variogram parameters assigned to similar domains. Search ellipse dimensions and orientation reflect the parameters derived from the variography and geological analysis. Only Au grade was estimated. No other elements were estimated. No deleterious elements were estimated or assumed. Block sizes were selected based on drill spacing and the thickness of the mineralised veins at 5m (east) by 25m (north) by 5m (z). Sub blocking down to 0.625m x 3.125m x 1.25m to honour estimation domain volumes was utilised. Average drill spacing was 40-50m x 20-40m. No selective mining units were assumed in the resource estimate. Blocks were generated within the mineralised volumes that defined each mineralised zone. Blocks within these zones were estimated using data that was contained with the same zone. Hard boundaries were used for all domains. Top cuts were applied to the data to control the effects of extreme high-grade Au values that were considered not representative. The effect of the top cuts was reviewed with respect to the resulting Population distribution and fragmentation, mean and CV values, and duplicate performance (as discussed earlier). The model was validated by comparing statistics of the estimated blocks against the composited sample data; visual examination of the block grades versus assay data in section; and swathe plots.

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Section 3: Estimation and Reporting of Mineral Resources (Criteria listed in Section 1, and where relevant in Section 2, also apply to this section.)

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Section 3: Estimation and Reporting of Mineral Resources(Criteria listed in Section 1, and where relevant in Section 2, also applyto this section.)
Criteria	JORC Code Explanation	Commentary
Moisture	Whether the tonnages are estimated on a dry basis or with natural moisture, and the method of determination of the moisture content.	All tonnages are reported on a ‘dry’ basis.
Cut-off parameters	The basis of the adopted cut-off grade(s) or quality parameters applied.	The indicative cut-off grade of 0.7 g/t Au for the Mineral Resource estimation is determined by the assumption that mining will be a small-sized open pit operation to approximately 75m below surface. This has been calculated from first principals.
Mining factors or assumptions	Assumptions made regarding possible mining methods, minimum mining dimensions and internal (or, if applicable, external) mining dilution. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider potential mining methods, but the assumptions made regarding mining methods and parameters when estimating Mineral Resources may not always be rigorous. Where this is the case, this should be reported with an explanation of the basis of the mining assumptions made.	No minimum width is applied to the Resource. Minimum widths are assessed and applied using Whittle or Mining Shape Optimiser software during the Reserve process. It is assumed that planned dilution is factored into the process at the stage of Reserve and stope design planning. The open pit depth is applied to all material above the base of the $AUD2,500 pit shell optimised with current industry rates.
Metallurgical factors or assumptions	The basis for assumptions or predictions regarding metallurgical amenability. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider potential metallurgical methods, but the assumptions regarding metallurgical treatment processes and parameters made when reporting Mineral Resources may not always be rigorous. Where this is the case, this should be reported with an explanation of the basis of the metallurgical assumptions made.	Assumed the material will be trucked and processed at Black Cat’s own mill. No metallurgical assumptions have been built or applied to the Resource model.
Environmental factors or assumptions	Assumptions made regarding possible waste and process residue disposal options. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider the potential environmental impacts of the mining and processing operation. While at this stage the determination of potential environmental impacts, particularly for a greenfields project, may not always be well advanced, the status of early consideration of these potential environmental impacts should be reported. Where these aspects have not been considered this should be reported with an explanation of the environmental assumptions made.	A conventional storage facility is used for the process plant tailings. Waste rock is to be stored in a traditional waste rock landform ‘waste dump’. There is no evidence to indicate the presence of deleterious elements within the deposit.
Bulk density	Whether assumed or determined. If assumed, the basis for the assumptions. If determined, the method used, whether wet or dry, the frequency of the measurements, the nature, size and representativeness of the samples. The bulk density for bulk material must have been measured by methods that adequately account for void spaces (vugs,	Bulk density was assigned based on regolith. Values of 1.8, 2.3 and 2.7 t/m3were used for oxide, transitional and fresh rock respectively. Density values were determined from a mixture of the extensive number of density measurements at the nearby and geologically similar Imperial/Majestic mine and a small number of fresh rock density measurements taken on diamond core at Crown by WMC Resources.

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Section 3: Estimation and Reporting of Mineral Resources (Criteria listed in Section 1, and where relevant in Section 2, also apply to this section.)

Maiden Resources Grow Kal East to 1.2Moz	Maiden Resources Grow Kal East to 1.2Moz	Maiden Resources Grow Kal East to 1.2Moz
Section 3: Estimation and Reporting of Mineral Resources(Criteria listed in Section 1, and where relevant in Section 2, also applyto this section.)
Criteria	JORC Code Explanation	Commentary
	porosity, etc), moisture and differences between rock and alteration zones within the deposit. Discuss assumptions for bulk density estimates used in the evaluation process of the different materials.	Oxide bulk density of 1.8 t/m3was selected based off Majestic measurements, which also matches densities at other Black Cat deposits within the area. Transitional bulk density of 2.3 t/m3was selected by taking a conservative approach to the relatively high density measured at Majestic of 2.45 t/m3. Fresh bulk density of 2.7 t/m3was selected based off Majestic measurements of density of 2.70 t/m3. WMC Resources measurements at Crown averaged 2.78 t/m3, however taking a more conservative approach of the Majestic density was considered valid due to the limited number of measurements, and unknown technique used at Crown.
Classification	The basis for the classification of the Mineral Resources into varying confidence categories. Whether appropriate account has been taken of all relevant factors (i.e. relative confidence in tonnage/grade estimations, reliability of input data, confidence in continuity of geology and metal values, quality, quantity and distribution of the data). Whether the result appropriately reflects the Competent Person’s view of the deposit.	There are no Indicated or Measured Mineral Resources. Inferred mineral resources are based on limited data support. No development for geological mapping; typically drill spacing greater than 25m x 25m (down to 50m x 50m at classified Resource extents). Further considerations of Resource classification include; Data type and quality (drilling type, drilling orientations, down hole surveys, sampling and assaying methods); Geological mapping and understanding; statistical performance including number of samples, slope regression and kriging efficiency. The classification of the Mineral Resource estimate appropriately reflects the view of the Competent Person.
Audits or reviews	The results of any audits or reviews of Mineral Resource estimates.	The geological interpretation, estimation parameters and validation of the Resource model were peer reviewed by Black Cat staff prior to accepting the responsibility for the Mineral Resource. No external reviews of the Resource estimate had been carried out at the time of writing.
Discussion of relative accuracy/ confidence	Where appropriate a statement of the relative accuracy and confidence level in the Mineral Resource estimate using an approach or procedure deemed appropriate by the Competent Person. For example, the application of statistical or geostatistical procedures to quantify the relative accuracy of the resource within stated confidence limits, or, if such an approach is not deemed appropriate, a qualitative discussion of the factors that could affect the relative accuracy and confidence of the estimate. The statement should specify whether it relates to global or local estimates, and, if local, state the relevant tonnages, which should be relevant to technical and economic evaluation. Documentation should include assumptions made and the procedures used. These statements of relative accuracy and confidence of the estimate should be compared with production data, where available.	The relative accuracy of the Mineral Resource estimate is reflected in the reporting of the Mineral Resource as per the guidelines of the 2012 JORC Code. The estimated uncertainty for ± 10% Measured Mineral Resources; ± 20 for Indicated Mineral Resources and ± 30% for Inferred Mineral Resources. The statement relates to the global estimates of tonnes and grade above an RL selected from the base of an optimisation pit shell at a 0.7 g/t Au cut-off.

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JONES FIND JORC TABLE 1

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Section 1: Sampling Techniques and Data
Criteria	JORC Code Explanation	Commentary
Sampling techniques	Nature and quality of sampling (eg 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.	Drilling has been completed by numerous parties over the life of the project. RAB and reverse circulation have been completed. Black Cat has completed a program of RC drilling to test historic drilling and extend the mineralisation.
	Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.	Drilling undertaken by Black Cat provides high quality representative samples that are carried out to industry standard and include QAQC standards. All samples are weighed in the laboratory. There are few details for drilling by previous operators, and protocols and procedures are assumed to be in line with industry standard at the time of drilling. Historic results are in line with Black Cat’s drilling.
	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 (eg ‘reverse circulation drilling was used to obtain 1m samples from which 3kg was pulverised to produce a 30g 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.	Black Cat’s reverse circulation drilling was sampled into 1m intervals via a cone splitter on the rig producing a representative sample of approximately 3kg. Samples were selected to weigh less than 3kg to ensure total sample inclusion at the pulverisation stage. All samples were crushed, dried and pulverised to a nominal 90% passing 75µm to produce a 40g or 50g sub sample for analysis by FA/AAS. Drilling by Fairstar Resources was by RC percussion. Sampling was conducted at 1 meter intervals. For drilling by Titan Resources, a face sampling hammer was utilised. Drill samples were collected in plastic bags, via a cyclone as individual meters. Samples, 1m and composites, were split with a 75:25 riffle splitter. Drilling by Bedrock Mining used an RC hammer from surface to base of oxidation. Slow penetration rates generally necessitated the use of a conventional hammer bit at greater depth. Samples were collected at one meter intervals into plastic bags via a cyclone and composited to 2 meter splits for analysis. Analytical samples were collected by tube sampling, except in intervals with strongly heterogeneous particle size, such as quartz stockwork veins within clay, which were riffle split.
Drilling techniques	Drill type (eg 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).	Black Cat’s and Titan Resources RC drilling was completed using a face sampling percussion hammer. Bedrock Mining’s RC drilling used a conventional RC hammer. Fairstar’s RC drilling details are unknown.
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed.	Black Cat’s RC drilling had recovery and sample dampness recorded as routine. There were no issues. There are no record or comment of sample recovery from previous operators drilling.
	Measures taken to maximise sample recovery and ensure representative nature of the samples.	Sample representativity was checked by Black Cat through the use of duplicates with acceptable results. Duplicate samples were taken by Bedrock Mining and Titan Resources.
	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.	There is no known relationship between sample recovery and grade.
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.	Black Cat logging of reverse circulation chips record lithology, mineralogy, texture, mineralisation, weathering, colour, alteration, veining and structure. Chips from all Black Cat’s holes are stored and photographed for future reference. These chip/core trays are archived in Kalgoorlie. No historic core or chips are available.

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Section 1: Sampling Techniques and Data
Criteria	JORC Code Explanation	Commentary
	Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.
	The total length and percentage of the relevant intersections logged.	All drilling by Black Cat has been logged in full.
Sub-sampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken.	No diamond core has been drilled.
	If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.	All Black Cat’s RC sampling have been cone split to 1m increments on the rig. Most of the sampling has been dry. Where wet samples have been encountered, the hole is conditioned and splitter cleaned to prevent downhole contamination. The sampling was generally dry as per Black Cat’s logging. There is no comment on sampling method by Fairstar Resources, but it is assumed to be rig-mounted cone splitter. Titan Resources collected samples using a 75:25 riffle splitter. Bedrock Mining collected samples by tube sampling, except in intervals with strongly heterogeneous particle size, such as quartz stockwork veins within clay, which were riffle split.
	For all sample types, the nature, quality and appropriateness of the sample preparation technique.	Black Cat’s sample preparation adheres to industry best practice. It is conducted by a commercial laboratory and involves oven drying, coarse crushing then total grinding to a size of 90% passing 75µm. Historic preparation of samples is unknown but assumed as industry standard.
	Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.	All subsampling activities are carried out by commercial laboratory and are considered satisfactory.
	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.	Black Cat’s reverse circulation field duplicate samples are carried out at a rate of 1:50 and are sampled directly from the on-board splitter on the rig. These are submitted for the same assay process as the original samples and the laboratory are unaware of such submissions. No details of duplicate sampling methods were detailed by previous operators.
	Whether sample sizes are appropriate to the grain size of the material being sampled.	Black Cat sample sizes of 3kg are considered appropriate given the grain size (90% passing 75µm) of the material sampled. Details for previous operators drilling are unknown but assumed to be in line with industry standards at the time of drilling.
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.	All samples were analysed by an external laboratory and methods are considered suitable for determining gold concentrations in rock and are a total digest method. Black Cat samples were submitted to Bureau Veritas Pty Ltd in Kalgoorlie for sample preparation and 40g fire assay with AAS finish. Fairstar Resources samples had the lab code AR40_ICPMS with 0.001 ppm detection limit recorded, which is likely to be a 40g aqua region digest for gold with ICP-MS finish at Bureau Veritas Kalassay Lab in Kalgoorlie. Titan Resources samples were submitted for total preparation fire assay gold analysis. Bedrock Mining samples were submitted to Genalysis Laboratories of Perth, and analysed for Au by AAS, following aqua regia sample digestion.
	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 were used in this Mineral Resource.

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Section 1: Sampling Techniques and Data

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Section 1: Sampling Techniques and Data
Criteria	JORC Code Explanation	Commentary
	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.	Black Cat’s drilling adheres to strict QAQC protocols involving weighing of samples, collection of field duplicates and insertion of certified reference material (blanks and standards). QAQC data are checked against reference limits in the SQL database on import. The laboratory performs internal processes including repeats, standards and blanks. Analysis of this data displayed acceptable precision and accuracy. Historic drilling included duplicate sampling and a review of the results did not indicate issues.
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel.	Significant intercepts are verified by database, geological and corporate staff.
	The use of twinned holes.	Diamond twinning has not been completed.
	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.	Black Cat’s Logging is completed in the field on a tablet before being uploaded into an SQL database. Assay files are uploaded directly from the lab into the database. The database is managed by a third party. Previous operators data has been reviewed from the digital file to the hard copies of annual reports with limited errors observed.
	Discuss any adjustment to assay data.	No adjustments have been made to the assay data.
Location of data points	Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.	Black Cat’s drilling is marked out using a handheld GPS prior to drilling. Once complete, the hole collars are picked up by an external contractor using RTK GPS. Downhole surveys are conducted by the drilling contractor at the end of each hole using a down hole north seeking gyro. Survey control for previous operator’s drilling is not discussed in the annual reports and represents a risk to the Mineral Resource which is reflected in the classification. Black Cat has surveyed previous operators drill hole collars where they were located in the field.
	Specification of the grid system used.	Drilling completed prior to 2000 (i.e. Titan Resources and Bedrock Mining) operated on local grid for the Jones Find area that has been converted to MGA 94 Zone 51 for estimation. All reported references are in MGA 94 Zone 51. Post-2000 drilling (Black Cat and Fairstar Resources) uses the grid system GDA 1994 MGA Zone 51.
	Quality and adequacy of topographic control.	The topographic surface was compiled using the RTK GPS and GPS collar surveys and is considered sufficiently accurate for an Inferred Mineral Resource.
Data spacing and distribution	Data spacing for reporting of Exploration Results.	The nominal drill hole spacing is 50m x 40m.
	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.	It is sufficient.
Orientation of data in relation to geological structure	Whether sample compositing has been applied.	Drill hole data has been composited downhole to 1m prior to the geostatistical analysis, continuity modelling and grade estimation process. The compositing has been run within the respective mineralisation domains using these as hard boundaries.
	Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.	Drilling is angled towards the east at -60 to intersect the mineralised zones. Holes drilled parallel to mineralisation were excluded. These orientations are acceptable given the moderately dipping nature of the mineralisation.
	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.	All drilling from surface has been drilled as close to perpendicular to the predicted orientation of mineralisation as possible. This has reduced the risk of introducing a sampling bias as far as possible. No orientation-based sampling bias has been identified in the data at this point.

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Section 1: Sampling Techniques and Data

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Section 1: Sampling Techniques and Data
Criteria	JORC Code Explanation	Commentary
Sample security	The measures taken to ensure sample security.	Black Cat’s samples prepared on site by Black Cat geological staff. Samples are selected, collected into tied calico bags and delivered to the laboratory by staff or contractors directly and there are no concerns with sample security. The sample security of the drilling by previous operators in unknown but is expected to have been acceptable.
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	A review of all available information on sampling and procedures used from annual reports has been completed by Black Cat’s technical team. Black Cat’s procedures are regularly reviewed by technical staff.

Section 2: Reporting of Exploration Results

Section 2: Reporting of Exploration Results	Section 2: Reporting of Exploration Results	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 Mineral Resources are located on P 25/2323 which is held by Black Cat until 2024. All production is subject to a Western Australian state government Net Smelter Return (“NSR”) royalty of 2.5%. An additional NSR of up to 1% is payable to third parties. There are no registered Aboriginal Heritage sites or pastoral compensation agreements over the tenements.
	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.	No known impediment to obtaining a licence to operate exists and the tenements are in good standing.
Exploration done by other parties	A_cknowledgment and appraisal of exploration by other_ parties.	Gold in the prospect was first discovered during the 1930s during the construction of a north–south fence in the tenement by Jones family of Hampton Hill Station. The Jones Find deposit was initially worked by the Jones family and is reported to have mined rich ore; however, no records are available. Other prospectors tried their luck and sunk a number of shafts with unknown results. In the 1970’s, a number of costeans were excavated by prospectors and Western Mining Corporation (WMC Resources). In 1982 the area was pegged by Mr NR McAlister and a series of vacuum holes were drilled. Between the early 1980’s and acquisition by Black Cat in 2020, exploration over the Jones Find area was carried out by several companies (Endeavour Resources NL, Gindalbie Gold NL, Indian Ocean Resources Ltd, Mr. McAllister NL, Newmex Exploration Ltd, Bedrock Mining PL, Croesus Mining NL, Titan Resources NL, Fairstar Resources Ltd, Integra Mining Ltd). Significant RAB drilling programmes were completed by Indian Ocean Resources Ltd in 1988 and Croesus Mining NL in 1995. RC programmes were completed by Bedrock Mining in 1989, Titan Resources in 1995; and Fairstar Resources in 2007. Integra drilled a series of RAB holes around the periphery of the tenement in 2011.
Geology	Deposit type, geological setting and style of mineralisation.	The style of mineralisation is Archaean orogenic gold. The Jones Find deposit is located at the southern end of the Kurnalpi Terrane (formerly the Gindalbie Terrane) on the western limb of the Bulong Anticline. Regionally, Jones Find sits within a zone of the volcanic and volcaniclastic felsics that form part of the Eastern Goldfields Superterrane greenstone. The area is located within the Juglah Monzogranite - an oval-shaped intrusion emplaced into a domed sequence of felsic to intermediate volcaniclastic and volcanic rocks. To the south, the area is cut by a series of dolerite and gabbro dykes running ENE that form part of the Widgiemooltha Supersuite. The prospect is characterised by a lack of topographical relief and is covered by recent alluvium and colluvium. Based on mine dumps and available exposed mine faces the tenement is considered to contain mainly a northerly

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Section 2: Reporting of Exploration Results

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Section 2: Reporting of Exploration Results
Criteria	JORC Code Explanation	Commentary
		striking, steeply dipping sequence of quartz-sericite-clay and quartz sericite biotite rocks which are frequently sheared and schistose, as observed, in the vicinity of old workings. These rocks are believed to be metamorphosed felsic dykes. Structurally, the tenement is located on the eastern flank of the south plunging Bulong anticline. The western margin of the granite to granodiorite phase pluton coincides with a major northwest striking shear (Majestic shear/fault). The Jones Find Prospect is inferred to lie on a subsidiary splay of this major shear zone. Locally, the granitoid exhibits intense shear related deformation, which is associated with alteration haloes of up to 100 m in width. The following four styles of gold mineralisation have been recognised in the tenement: 1. Narrow, gold containing quartz vein zones associated with shearing and biotite/sericite alteration. Most old mine workings are developed in these zones. 2. Auriferous stockworks containing 5-20% quartz veins in granite with more felsic and dioritic phases. 3. Quartz-biotite-clay ± albite alteration associated with anomalous gold assays ranging from 0.1 g/t gold to 0.4 g/t gold. 4. Supergene gold mineralisation within the saprolitic zone.
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 Reduced Level (“RL”) (elevation above sea level in metres) of the drill hole collar; − dip and azimuth of the hole; − down hole length and interception depth; − hole length; and − 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.	Tables containing drill hole collar, survey and intersection data are included in the body of the announcement.
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.	No exploration results relating to Jones Find have been reported in this announcement.
	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.	No exploration results relating to Jones Find have been reported in this announcement.
	The assumptions used for any reporting of metal equivalent values should be clearly stated.	Not applicable, as no metal equivalent values have been reported.

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Section 2: Reporting of Exploration Results

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Section 2: Reporting of Exploration Results
Criteria	JORC Code Explanation	Commentary
Relationship between mineralisation widths and intercept lengths	These relationships are particularly important in the reporting of Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. 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’).	No exploration results relating to Jones Find have been reported in this announcement.
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.	Appropriate diagrams have been included in the body of the announcement.
Balanced reporting	Where comprehensive reporting of all Exploration. Results are not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	All results have been tabulated in this announcement.
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.	Geophysical surveys including aeromagnetic surveys have been carried out by previous owners to highlight and interpret prospective structures in the project area. No geophysics was used in the production of the Mineral Resource.
Further work	The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step- out drilling). Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	Black Cat plans to conduct continued exploration in the area to confirm the current interpretation and target extensions to the currently modelled mineralisation.

Section 3: Estimation and Reporting of Mineral Resources(Criteria listed in Section 1, and where relevant in Section 2, also applyto this section.)
Criteria	JORC Code Explanation	Commentary
Database integrity	Measures taken to ensure that data has not been corrupted by, for example, transcription or keying errors, between its initial collection and its use for Mineral Resource estimation purposes. Data validation procedures used.	Data has been stored in an SQL server database. Historic data has been provisionally checked against hard copies of the data as reported in annual reports to the Department of Mines and Petroleum.

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Section 3: Estimation and Reporting of Mineral Resources (Criteria listed in Section 1, and where relevant in Section 2, also apply to this section.)

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Section 3: Estimation and Reporting of Mineral Resources(Criteria listed in Section 1, and where relevant in Section 2, also applyto this section.)
Criteria	JORC Code Explanation	Commentary
Site visits	Comment on any site visits undertaken by the Competent Person and the outcome of those visits. If no site visits have been undertaken indicate why this is the case.	The Competent Person regularly visits site, with the last visit completed in August 2021. While drilling was not observed at the time, the same contractor and field staff are used for all drilling activities by Black Cat and are regularly observed.
Geological interpretation	Confidence in (or conversely, the uncertainty of) the geological interpretation of the mineral deposit. Nature of the data used and of any assumptions made. The effect, if any, of alternative interpretations on Mineral Resource estimation. The use of geology in guiding and controlling Mineral Resource estimation. The factors affecting continuity both of grade and geology.	The resource categories assigned to the model directly reflect the confidence of the geological interpretation, that was constructed based primarily on trends in the grade data. Wireframes of the mineralisation were constructed using cross sectional interpretations based on a 0.5 g/t Au cut-off grade with no minimum downhole length. Some holes with <0.5 g/t Au were included to ensure consistent geological continuity. The geological interpretation has considered all available geological information. RC and Diamond drilling was used during interpretation. RAB and AC were excluded due to the lack of confidence in the technique for modelling and estimation, with the exception of the supergene mineralisation blanket which was wireframed using RAB and RC holes. RAB intercepts were compared to adjacent RC intercepts and the RAB mineralised zones were not significantly thicker than the adjacent RC intercepts as would be expected if smearing or poor sample quality was an issue. RAB was not used in the population of grades into the blockmodel. The lowered confidence due to this is reflected in the Inferred classification.
Dimensions	The extent and variability of the Mineral Resource expressed as length (along strike or otherwise), plan width, and depth below surface to the upper and lower limits of the Mineral Resource.	The mineralisation extends over a strike length of 330m, is 370m across, and extends 140m down dip. It is open at depth, along strike to the south-west, down-plunge to the north-west.
Estimation and modelling techniques	The nature and appropriateness of the estimation technique(s) applied and key assumptions, including treatment of extreme grade values, domaining, interpolation parameters and maximum distance of extrapolation from data points. If a computer assisted estimation method was chosen include a description of computer software and parameters used. The availability of check estimates, previous estimates and/or mine production records and whether the Mineral Resource estimate takes appropriate account of such data. The assumptions made regarding recovery of by-products. Estimation of deleterious elements or other non-grade variables of economic significance (e.g. sulphur for acid mine drainage characterisation). In the case of block model interpolation, the block size in relation to the average sample spacing and the search employed. Any assumptions behind modelling of selective mining units. Any assumptions about correlation between variables. Description of how the geological interpretation was used to control the resource estimates.	Gold grade was estimated using Leapfrog EDGE and was completed using ordinary kriging. It was considered that a more robust geological model with smoother and more continuous mineralised lodes will reduce the effects of higher CV. Estimation was carried out on the parent cell with 5x5x5 discretisation points. Variograms were generated for the main lodes, with variogram parameters assigned to similar domains. Search ellipse dimensions and orientation reflect the parameters derived from the variography and geological analysis. Only Au grade was estimated. No other elements were estimated. No deleterious elements were estimated or assumed. Block sizes were selected based on drill spacing and the thickness of the mineralised veins at 10m (east) by 20m (north) by 5m (z). Sub blocking down to 1m x 2m x 1m to honour estimation domain volumes was utilised. Average drill spacing was 40-50m x 40m. No selective mining units were assumed in the resource estimate. Blocks were generated within the mineralised volumes that defined each mineralised zone. Blocks within these zones were estimated using data that was contained with the same zone. Hard boundaries were used for all domains. Top cuts were applied to the data to control the effects of extreme high-grade Au values that were considered not representative. The effect of the top cuts was reviewed with respect to the resulting Population distribution and fragmentation, mean and CV values. The model was validated by comparing statistics of the estimated blocks against the composited sample data; visual examination of the block grades versus assay data in section; and swathe plots.

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Section 3: Estimation and Reporting of Mineral Resources (Criteria listed in Section 1, and where relevant in Section 2, also apply to this section.)

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Section 3: Estimation and Reporting of Mineral Resources(Criteria listed in Section 1, and where relevant in Section 2, also applyto this section.)
Criteria	JORC Code Explanation	Commentary
	Discussion of basis for using or not using grade cutting or capping. The process of validation, the checking process used, the comparison of model data to drill hole data, and use of reconciliation data if available.
Moisture	Whether the tonnages are estimated on a dry basis or with natural moisture, and the method of determination of the moisture content.	All tonnages are reported on a ‘dry’ basis.
Cut-off parameters	The basis of the adopted cut-off grade(s) or quality parameters applied.	The indicative cut-off grade of 0.7 g/t Au for the Mineral Resource estimation is determined by the assumption that mining will be a small-sized open pit operation to approximately 50m below surface. This has been calculated from first principals.
Mining factors or assumptions	Assumptions made regarding possible mining methods, minimum mining dimensions and internal (or, if applicable, external) mining dilution. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider potential mining methods, but the assumptions made regarding mining methods and parameters when estimating Mineral Resources may not always be rigorous. Where this is the case, this should be reported with an explanation of the basis of the mining assumptions made.	No minimum width is applied to the Resource. Minimum widths are assessed and applied using Whittle or Mining Shape Optimiser software during the Reserve process. It is assumed that planned dilution is factored into the process at the stage of Reserve and stope design planning. The open pit depth is applied to all material above the base of the $AUD2,500 pit shell optimised with current industry rates.
Metallurgical factors or assumptions	The basis for assumptions or predictions regarding metallurgical amenability. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider potential metallurgical methods, but the assumptions regarding metallurgical treatment processes and parameters made when reporting Mineral Resources may not always be rigorous. Where this is the case, this should be reported with an explanation of the basis of the metallurgical assumptions made.	Assumed the material will be trucked and processed at Black Cat’s own mill. No metallurgical assumptions have been built or applied to the Resource model.
Environmental factors or assumptions	Assumptions made regarding possible waste and process residue disposal options. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider the potential environmental impacts of the mining and processing operation. While at this stage the determination of potential environmental impacts, particularly for a greenfields project, may not always be well advanced, the status of early consideration of these potential environmental impacts should be reported. Where these aspects have not been considered this should be reported with an explanation of the environmental assumptions made.	A conventional storage facility is used for the process plant tailings. Waste rock is to be stored in a traditional waste rock landform ‘waste dump’. There is no evidence to indicate the presence of deleterious elements within the deposit.

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Section 3: Estimation and Reporting of Mineral Resources (Criteria listed in Section 1, and where relevant in Section 2, also apply to this section.)

Maiden Resources Grow Kal East to 1.2Moz	Maiden Resources Grow Kal East to 1.2Moz	Maiden Resources Grow Kal East to 1.2Moz
Section 3: Estimation and Reporting of Mineral Resources(Criteria listed in Section 1, and where relevant in Section 2, also applyto this section.)
Criteria	JORC Code Explanation	Commentary
Bulk density	Whether assumed or determined. If assumed, the basis for the assumptions. If determined, the method used, whether wet or dry, the frequency of the measurements, the nature, size and representativeness of the samples. The bulk density for bulk material must have been measured by methods that adequately account for void spaces (vugs, porosity, etc), moisture and differences between rock and alteration zones within the deposit. Discuss assumptions for bulk density estimates used in the evaluation process of the different materials.	Bulk density is assigned based on regolith. Values of 1.80, 2.45 and 2.70 t/m3are used for oxide, transitional and fresh rock respectively. Bulk density values were taken from the adjacent Imperial/Majestic deposit which were based on historic test work and correlate well with results from other areas in the region with similar geology. Further work on density will be completed as the project progresses. Density values are allocated uniformly to each regolith type.
Classification	The basis for the classification of the Mineral Resources into varying confidence categories. Whether appropriate account has been taken of all relevant factors (i.e. relative confidence in tonnage/grade estimations, reliability of input data, confidence in continuity of geology and metal values, quality, quantity and distribution of the data). Whether the result appropriately reflects the Competent Person’s view of the deposit.	There are no Indicated or Measured Mineral Resources. Inferred mineral resources are based on limited data support. No development for geological mapping; typically drill spacing greater than 25m x 25m (down to 50m x 50m at classified Resource extents). Further considerations of Resource classification include; Data type and quality (drilling type, drilling orientations, down hole surveys, sampling and assaying methods); Geological mapping and understanding; statistical performance including number of samples, slope regression and kriging efficiency. The classification of the Mineral Resource estimate appropriately reflects the view of the Competent Person.
Audits or reviews	The results of any audits or reviews of Mineral Resource estimates.	The geological interpretation, estimation parameters and validation of the Resource model were peer reviewed by Black Cat staff prior to accepting the responsibility for the Mineral Resource. No external reviews of the Resource estimate had been carried out at the time of writing.
Discussion of relative accuracy/ confidence	Where appropriate a statement of the relative accuracy and confidence level in the Mineral Resource estimate using an approach or procedure deemed appropriate by the Competent Person. For example, the application of statistical or geostatistical procedures to quantify the relative accuracy of the resource within stated confidence limits, or, if such an approach is not deemed appropriate, a qualitative discussion of the factors that could affect the relative accuracy and confidence of the estimate. The statement should specify whether it relates to global or local estimates, and, if local, state the relevant tonnages, which should be relevant to technical and economic evaluation. Documentation should include assumptions made and the procedures used. These statements of relative accuracy and confidence of the estimate should be compared with production data, where available.	The relative accuracy of the Mineral Resource estimate is reflected in the reporting of the Mineral Resource as per the guidelines of the 2012 JORC Code. The estimated uncertainty for ± 10% Measured Mineral Resources; ± 20 for Indicated Mineral Resources and ± 30% for Inferred Mineral Resources. The statement relates to the global estimates of tonnes and grade above an RL selected from the base of an optimisation pit shell at a 0.7 g/t Au cut-off.

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