CASTILE RESOURCES LTD — Regulatory Filings 2021

May 23, 2021

ASX Announcement

24 May 2021

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High Grade Gold and Copper Results in Drilling at Rover 1

Castile Resources Limited ( ASX:CST ) ( “Castile” or “the Company” ) is pleased to announce that assays have been received from the first two drill holes at Rover 1 for the 2021 season. Rover 1 is an iron oxide copper gold (IOCG) deposit with significant co-products. The results from Hole 21CRD003A-1 include gold, copper and coproducts assays, however the results from Hole 21CRD001-1A only contain results for the gold assays at this time. The copper and co-product assays for Hole 21CRD001-1A will be released to the market when they are received from the laboratory.

The holes have continued to extend the high-grade copper gold core at the Jupiter zone with excellent broad zones of coincident copper and gold mineralisation. Highlight intercepts being:

Hole 21CRD001-1A (only gold assays received to date)

• 10.8m @ 9.0g/t Au including 1.9m @ 30g/t Au from 613m

• 21m @ 3.7g/t Au including 2.3m @ 10.5g/t Au, 2m @ 9.0g/t Au and 3m @ 5.5g/t Au from 585m

• 6m @ 3g/t Au including 2m @ 6.3 g/t Au from 628m

Hole 21CRD003A-1:

• 14.2m @ 1.3% Cu, 0.4 g/t Au, 0.1% Co, 0.1% Bi from 651.5m including 0.45m @ 7.16% Cu from 652m

• 4.9m @ 1.1% Cu, 1.3 g/t Au, 0.3% Co and 0.3% Bi from 647.8m

Commentary on Results from the first two holes:

Hole 21CRD001-1A has expanded the continuity of the high-grade gold zone within the Jupiter zone down plunge of last year’s gold results in hole 20CRD002. The hole has returned multiple high grade gold intercepts (refer to Table 2 below) in mineralised ironstone and metasediments including 4m 4.9 g/t Au from 554m, 21m @ 3.7 g/t Au from 585m, 10.8m @ 9.0 g/t from 613m (including 1.9m @ 30 g/t Au from 613m) and 6m @ 3.0g/t downhole from 628m. Only gold assays have been received for this hole, the base metal assays are pending and will presented in a future announcement.

Hole 21CRD003A-1 was drilled to define the boundaries of copper-gold mineralisation in the lower Jupiter Zone at Rover 1. As is typical in the broader IOCG deposit the intercepts have returned strong coincident copper-gold results (refer to Table 1 below) with the hole interpreted to have intersected above the plunge of the bonanza gold zone in later stage shearing toward the base of the ironstone. The hole has extended down plunge the overall mineralised zone which is highly encouraging for the ultimate size of the deposit.

ASX Announcement

24 May 2021

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In addition to the above holes, the third hole in this year’s program, Hole 21CRD003C has been completed to 768.5m. The hole successfully intercepted IOCG mineralisation and has now been logged, sampled and the core samples dispatched to the laboratory for assay.

The fourth hole in the current drilling program, Hole 21CRD001-2 has also successfully intercepted IOCG mineralisation and has been completed at a depth of 615.6m. Detailed geological logging and sampling has been completed and the core samples will be dispatched to the laboratory immediately.

Mark Hepburn, Castile Managing Director, commented: “It’s fantastic to get underway with the first results from our new drilling season that include high grade gold and copper hits. These results will kick off a solid four months of news flow for our shareholders and are a compelling reminder that the Rover 1 discovery contains both high grade gold and copper. We anticipate that the recent increase in the copper price will have positive implications for the mining studies underway at Rover 1. It should not be lost on our shareholders that coincident with our high gold grades, a copper resource of 6.9mt @ 1.2 % Cu[1] accompanies the gold at Rover 1. Our resource definition drilling in this program includes areas that will benefit from the changes in the copper price as we gain more data and confidence regarding the extent of the high-grade copper and gold zones within the deposit.

The significant increase in the copper price is also a timely reminder to our shareholders looking forward to this year’s exploration programs on the nearby early-stage copper discoveries in our portfolio. This year’s program will include targeting the primary copper source at Explorer 108 which has a current copper resource of 5.9mt @ 0.4%[1] associated with lead-zinc mineralisation. Explorer 142 which has a current Cu resource of 176 000t @ 5.2% Cu[1] will also have further drilling in this campaign. Both of these deposits are located within 35kms to the west of Rover 1.

We look forward to continuing to deliver the results from the drilling on an ongoing basis as the program progresses.”

Mark Hepburn Managing Director

Castile Resources Limited

For further information please contact: info@castile.com.au Phone: +61 8 9488 4480 Castile Resources Limited 7/189 St Georges Terrace Perth, WA, 6000

Authorised by the board of Castile Resources Limited.

1 Refer to table 3 of this announcement for consolidated mineral resources. The mineral resources were first disclosed in the prospectus dated 3 December 2019 and released on the ASX market announcements platform on 12 February 2020.

24 May 2021

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ASX Announcement

Competent Person Statement

The exploration results contained in this report are based on, and fairly and accurately represent the information and supporting documentation prepared by Mark Savage. Mr Savage is a full-time employee of Castile, and a Member of The Australasian Institute of Mining and Metallurgy. Mr Savage has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration, and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Exploration Targets, Mineral Resources and Ore Reserves. Mr Savage consents to the inclusion in the report of the matters based on the exploration results in the form and context in which they appear.

The Mineral Resources contained in this announcement were first disclosed in the prospectus dated 3 December 2019 and released on the ASX market announcements platform on 12 February 2020 (“Prospectus”). Castile is not aware of any new information or data that materially affects the Mineral Resources included in these announcements. All all material assumptions and technical parameters underpinning the estimates in the Prospectus continue to apply and have not materially changed.

Forward Looking Statements

Certain statements in this report relate to the future, including forward looking statements relating to Castile’s financial position and strategy. These forward-looking statements involve known and unknown risks, uncertainties, assumptions, and other important factors that could cause the actual results, performance, or achievements of Castile to be materially different from future results, performance or achievements expressed or implied by such statements. Actual events or results may differ materially from the events or results expressed or implied in any forward-looking statement and deviations are both normal and to be expected. Other than required by law, neither Castile, their officers nor any other person gives any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements will occur. You are cautioned not to place undue reliance on those statements.

ASX Announcement

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Table 1: Significant intersections – 21CRD003A-1

Hole #	North	East	Dip/Azi	Intercept	From	Downhole Width
21CRD003A-1	7787859	35934 0	-70/360	4.9m @ 1.3g/t Au with 1.1% Cu, 0.3% Bi, 0.3% Co and 1.8g/t Ag	647.8m	4.9m
			-70/360	14.2m @ 1.3% Cu with 0.4g/t Au, 0.1% Bi, 0.1% Co and 0.8g/t Ag	651.5m	14.2m
			including	0.45m @ 7.16% Cu with 0.8g/t Au, 0.3% Co and 1.3g/t Ag	652.0m	0.45m
			-70/360	3.5m @ 1.8% Cu with 0.6g/t Au, 0.1% Bi, 0.1% Co and 1.3g/t Ag	655.2m	3.5m

Table 2: of significant intersections – 21CRD001-1A

Hole #	North	East	Dip/Azi	Intercept	From	Downhole Width
21CRD001-1A	7787609	359497	-70/351	4m @ 4.9g/t Au from 554m downhole	554	4m
			including	inc 1m @ 15.7g/t Au from 556m downhole	556	1m
			including	1.9m @ 1.3g/t Au from 579m downhole	579	1.9m
			-70/351	21m @ 3.7g/t Au from 585m downhole	585	21m
			including	inc 2.3m @ 10.5g/t Au from 588m downhole	588	2.3m
			including	inc 2m @ 9g/t Au from 596.05m downhole	596.05	2m
			including	inc 3m @ 5.5g/t Au from 603m downhole	603	3m
			-70/351	10.8m @ 9g/t Au from 613m downhole	613	10.8m
			including	inc 1.9m @ 30g/t Au from 617.1m downhole	617.1	1.9m
			-70/351	6m @ 3g/t Au from 628m downhole	628	6m
			including	inc 2m @ 6.3g/t Au from 630m downhole	630	2m

24 May 2021

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ASX Announcement

Figure 1: Rover 1 long projection showing 21CRD001-1A and 21CRD003A-1, mineralisation and historic gold intersection points.

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ASX Announcement

24 May 2021

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JORC 2012 Table 1

Section 1 Sampling Techniques and Data (criteria in this section apply to all succeeding sections)

Criteria	JORC Code explanation	Commentary
Sampling	• Nature and quality of sampling (e.g. cut channels,	• All data used in the following sections at Rover 1 has
techniques	random chips, or specific specialised industry	been gathered from diamond core. Multiple sizes
	standard measurement tools appropriate to the	have been used historically; HQ, NQ and BQ.
	minerals under investigation, such as down hole
	gamma sondes, or handheld XRF instruments, etc.).	• Samples are selected to lie on geological
	These examples should not be taken as limiting the	boundaries, with intervals selected of lengths
	broad meaning of sampling.	between 0.1 to 1.1m. Samples are halved using an
	• Include reference to measures taken to ensure	automatic core saw then individual samples
	sample representivity and the appropriate	collected in prenumbered calico sample bags.
	calibration of any measurement tools or systems
	used.	• To ensure representivity of analysis, field blanks and
	• Aspects of the determination of mineralisation that	certified reference material is inserted in a nominal
	are Material to the Public Report.	ratio of 1:20 samples.
	• In cases where ‘industry standard’ work has been
	done this would be relatively simple (e.g. ‘reverse	• Sample recovery is recorded on retrieval of the core
	circulation drilling was used to obtain 1 m samples	tube, measuring recovered core against drill string
	from which 3 kg was pulverised to produce a 30 g	advance. No apparent relationship has been
Drilling	charge for fire assay’). In other cases, more	observed between sample recovery and grade. No
techniques	explanation may be required, such as where there is	has sample bias due to preferential loss or gain of
	coarse gold that has inherent sampling problems.	fine or coarse material been noted.
	Unusual commodities or mineralisation types (e.g.
	submarine nodules) may warrant disclosure of
	detailed information.
Drill sample	• Drill type (e.g. core, reverse circulation, open-hole
recovery	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.).
	• Method of recording and assessing core and chip
	sample recoveries and results assessed.
	• Measures taken to maximise sample recovery and
	ensure representative nature of the samples.
	• Whether a relationship exists between sample
	recovery and grade and whether sample bias may
	have occurred due to preferential loss/gain of
	fine/coarse material.
Logging	• Whether core and chip samples have been	• All geological data has been visually logged and
	geologically and geotechnically logged to a level of	validated by the relevant area geologists, recording
	detail to support appropriate Mineral Resource	lithology, alteration, mineralisation, structure,
	estimation, mining studies and metallurgical studies.	veining, magnetic susceptibility and geotechnical
	• Whether logging isqualitative orquantitative in	data.

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Criteria	JORC Code explanation	Commentary
	nature. Core (or costean, channel, etc.)	• Logging is quantitative in nature.
	photography.	• All holes are logged completely.
	• The total length and percentage of the relevant
	intersections logged.
Sub-	• If core, whether cut or sawn and whether quarter,	• Diamond Drilling - Half-core niche samples, sub-set
sampling	half or all core taken.	via geological features as appropriate.
techniques	• If non-core, whether riffled, tube sampled, rotary	• Core undergoes total preparation.
and sample	split, etc. and whether sampled wet or dry.	• For the 2021 field season, sample preparation
preparation	• For all sample types, the nature, quality and	process consists of;
	appropriateness of the sample preparation	o Half ore samples of between 0.5 to
	technique.	3kg are whole crushed using a Boyd
	• Quality control procedures adopted for all sub-	Crusher to achieve a maximum
	sampling stages to maximise representivity of	sample size of 2mm.
	samples.	o A cone splitter is used to split 1kg of
	• Measures taken to ensure that the sampling is	material which is pulverised in a
	representative of the in-situ material collected,	Keegor mill to a nominal 100µm
	including for instance results for field	particle size., then roll mixed to
	duplicate/second-half sampling.	homogenise the sample.
	• Whether sample sizes are appropriate to the grain	o The mill inserts a barren coarse flush
	size of the material being sampled.	after every sample.
		o From the analysis sample, 40g is taken
		for fire assay, while a 0.2g potion is
		taken for acid digestion. These
		samples are extracted from the
		packet with a spatula and weighed
		out.
		• QA/QC is ensured during sampling via the use of
		sample ledgers, blanks, standards and repeats.
		• QA/QC is ensured during the assays process via the
		use of blanks, standards and repeats at a NATA / ISO
		accredited laboratory.
		• Repeatability is performed by selecting 1:20 coarse
		reject material as field duplicates and re-assayed.
		• The sample sizes are considered appropriate to the
		grainsize of the material being sampled.
		• The un-sampled half of diamond core is retained for
		check samplingif required.
Quality of	• The nature, quality and appropriateness of the	• Analysis of drill core for Au, Ag, Bi, Co, Cu, Pb and Zn
assay data	assaying and laboratory procedures used and	is as follows;
and	whether the technique is considered partial or total.	o Gold (Au-AAS scheme – lower
laboratory	• For geophysical tools, spectrometers, handheld XRF	detection limit = 0.01ppm, upper
tests	instruments, etc., the parameters used in	detection limit = 100ppm). A 30-40g
	determining the analysis including instrument make	charge of prepared sample is fused
	and model, reading times, calibrations factors	with a mixture of lead oxide, sodium
	applied and their derivation, etc.	carbonate, borax, silica and other
	• Nature of quality control procedures adopted (e.g.	reagents and then cupelled to yield a
	standards, blanks, duplicates, external laboratory	precious metal bead.
		o The bead is then dissolved in acid and

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Criteria	JORC Code explanation	Commentary
	checks) and whether acceptable levels of accuracy	analysed by atomic absorption
	(i.e. lack of bias) and precision have been	spectroscopy against matrix-matched
	established.	standards.
		o Samples returning assay values in
		excess of 100g/t Au were repeated
		using the screen-fire method.
		o Silver, bismuth, cobalt, copper, lead
		and zinc samples are digested using a
		4-acid digest.
		o The subsequent solution is analysed
		by inductively coupled plasma -
		atomic emission spectroscopy or by
		atomic absorption spectrometry.
		• No significant QA/QC issues have arisen in recent
		drilling results.
		• These assay methodologies are appropriate for the
		style of mineral deposit under consideration.
Verification	• The verification of significant intersections by either	• Anomalous intervals as well as random intervals are
of sampling	independent or alternative company personnel.	routinely checked assayed as part of the internal
and	• The use of twinned holes.	QA/QC process.
assaying	• Documentation of primary data, data entry	• Several twinned holes have been drilled with no
	procedures, data verification, data storage (physical	significant issues highlighted.
	and electronic) protocols.	• Primary data is collected on a ruggedised computer,
	• Discuss any adjustment to assay data.	on predefined and self-validating worksheets. This
		data is imported into a relational database
		(DataShed) and is backed up regularly.
		• All data used in the calculation of resources is
		compiled in databases which are overseen and
		validated by senior geologists.
		• Noprimaryassays data is modified in anyway.
Location of	• Accuracy and quality of surveys used to locate drill	• All data is spatially oriented by survey controls via
data points	holes (collar and down-hole surveys), trenches, mine	direct pickups by the survey department. Drillholes
	workings and other locations used in Mineral	are all surveyed downhole. Modern holes are
	Resource estimation.	surveyed by Gyro tools.
	• Specification of the grid system used.	• All drilling and resource estimation is undertaken in
	• Quality and adequacy of topographic control.	MGA grid.
		• Topographic control is generated from a
		combination of aerial photogrammetry and ground-
		based surveys. This methodology is considered
		adequate for the resource inquestion.
Data	• Data spacing for reporting of Exploration Results.	• Drilling has been undertaken on a nominal 40x40m
spacing	• Whether the data spacing and distribution is	spacing, infilled to a nominal 20x20m spacing where
and	sufficient to establish the degree of geological and	significant mineralisation has been identified.
distribution	grade continuity appropriate for the Mineral	• No compositing of primary samples is undertaken
	Resource and Ore Reserve estimation procedure(s)	prior to analysis.
	and classifications applied.
	• Whether sample compositing has been applied.

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Criteria	JORC Code explanation	Commentary
Orientation	• Whether the orientation of sampling achieves	• Drilling intersections are nominally designed to be
of data in	unbiased sampling of possible structures and the	normal to the orebody under consideration as far
relation to	extent to which this is known, considering the	topography and economics allows.
geological	deposit type.	• It is not considered that drilling orientation has
structure	• If the relationship between the drilling orientation	introduced an appreciable sampling bias.
	and the orientation of key mineralised structures is
	considered to have introduced a sampling bias, this
	should be assessed and reported if material.
Sample	• The measures taken to ensure sample security.	• Individual samples in calico samples are collected in
security		groups of 5 and placed into poly weave bags and
		secured with a zip-tie. All poly weave bags of a
		submission are then placed within a bulka bag,
		which is then sealed before delivery to a third-party
		transport service who provides a tracking number.
		The transport contractor then relays the samples to
		the independent laboratorycontractor.
Audits or	• The results of any audits or reviews of sampling	• Site generated data is routinely reviewed by the
reviews	techniques and data.	Castile corporate technical team.

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

Criteria	JORC Code explanation	Commentary
Mineral	• Type, reference name/number, location and	• The Tennant Creek Project comprises 5 granted
tenement and	ownership including agreements or material issues	exploration leases.
land tenure	with third parties such as joint ventures,	• Native title interests are recorded against the
status	partnerships, overriding royalties, native title	Tennant Creek tenements.
	interests, historical sites, wilderness or national	• The Tennant Creek tenements are held by Castile
	park and environmental settings.	Resources exclusively.
	• The security of the tenure held at the time of	• Third party royalties exist across various
	reporting along with any known impediments to	tenements at Tennant Creek, over and above the
	obtaining a licence to operate in the area.	Northern Territory government royalty.
		• Castile operates in accordance with all
		environmental conditions set down as conditions
		for grant of the leases.
		• There are no known issues regarding security of
		tenure.
		• There are no known impediments to continued
		operation.
Exploration	• Acknowledgment and appraisal of exploration by	• The Tennant Creek area has an exploration and
done by other	other parties.	production history in excess of 100 years.
parties		• The Rover area in particular has an intensive
		exploration history stretching from the 1970’s.
Geology	• Deposit type, geological setting and style of	• The Rover Project is presently considered to be
	mineralisation.	associated with a southern repeat of the 1860-

ASX Announcement

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Criteria	JORC Code explanation	Commentary
		1850Ma Warramunga Province, in particular, the
		Paleoproterozoic Ooradidgee Formation, after
		recent geochronology work undertaken by NTGS .
		This is a weakly metamorphosed succession of
		partly tuffaceous sandstones and siltstones and
		turbidite shales. Locally the turbidite
		metasediments are variably altered by hematite
		and silica flooding.
		• Mineralisation is mainly of the Iron Ore Copper-
		Gold (IOCG) type, particularly the Tennant Creek
		sub-type. Massive ironstone comprised of
		magnetite or hematite +/-quartz is interpreted to
		be alteration of metasediments within a structural
		trap.
		• Copper manifests as of chalcopyrite, associated
		with breccia fill within magnetite-quartz ironstones
		and Jasper/BIF that often form an alteration
		transition to a chlorite alteration envelope.
		Pervasive sub-economic copper levels can persist
		throughout the zone. Economic levels of copper
		are dominantly contained in the lower massive
		magnetite zone of the ironstone bodies,
		particularly where intense chlorite alteration
		replaces magnetite laterally and at depth, grading
		into magnetite chlorite stringer zones. Gold
		content is related to an increase in haematite
		dusted quartz veins, with bonanza grades
		associated with massive pyrite with subordinate
		bismuthite. Cobalt appears to have a direct
		relationship with pyrite.
		• Lead and zinc mineralisation at Explorer 108 is
		associated with a brecciated, dolomitised
		metasedimentary unit, consisting of irregular,
		generally narrow bands or veins of semi-massive
		sphalerite and galena. A basal “high-grade” zone is
		present at the contact of the altered
		metasediments and lower felsic volcaniclastic unit.
		• It is postulated that Explorer 108 mineralisation is
		an analogue of Mt Isa style base metal
		mineralisation.
Drill hole	• A summary of all information material to the	• Exploration results are presented in Tables 1 and 2
Information	understanding of the exploration results including	of the ASX release dated 24/05/2021 related to
	a tabulation of the following information for all	this edition of JORC Table 1.
	Material drill holes:
	o easting and northing of the drill hole collar
	o elevation or RL (Reduced Level – elevation
	above sea level in metres) of the drill hole collar
	o dip and azimuth of the hole

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Criteria	JORC Code explanation	Commentary
	o down hole length and interception depth
	o hole length.
	• If the exclusion of this information is justified on
	the basis that the information is not Material and
	this exclusion does not detract from the
	understanding of the report, the Competent Person
	should clearly explain why this is the case.
Data	• In reporting Exploration Results, weighting	• Results are reported on a length weighted average
aggregation	averaging techniques, maximum and/or minimum	basis.
methods	grade truncations (e.g. cutting of high grades) and	• Results are reported above a 1gm Au / Au Eq. cut-
	cut-off grades are usually Material and should be	off / 1%m Pb + Zn and 1%m Cu.
	stated.	• Results reported may include up to three metres of
	• Where aggregate intercepts incorporate short	internal dilution below a 0.5g/t Au / Au Eq. cut-off
	lengths of high-grade results and longer lengths of	/ 0.5% Pb + Zn / 0.5%m Cu.
	low-grade results, the procedure used for such	• Metal equivalent values are reported based on the
	aggregation should be stated and some typical	ratio of prevailing commodity prices which are
	examples of such aggregations should be shown in	given above.
	detail.
	• The assumptions used for any reporting of metal
	equivalent values should be clearly stated.
Relationship	• These relationships are particularly important in	• Interval widths are reported as downhole width
between	the reporting of Exploration Results.	unless otherwise stated.
mineralisation	• If the geometry of the mineralisation with respect
widths and	to the drill hole angle is known, its nature should
intercept	be reported.
lengths	• 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	• Diagrams are presented in the ASX release dated
	tabulations of intercepts should be included for any	24/05/2021 related to this edition of JORC Table 1.
	significant discovery being reported These should
	include, but not be limited to a plan view of drill
	hole collar locations and appropriate sectional
	views.
Balanced	• Where comprehensive reporting of all Exploration	• Completed drilling where analysis is available is
reporting	Results is not practicable, representative reporting	reported.
	of both low and high grades and/or widths should
	be practiced to avoid misleading reporting of
	Exploration Results.
Other	• Other exploration data, if meaningful and material,	• Geological information related to the reported
substantive	should be reported including (but not limited to):	results is presented in the ASX release dated
exploration	geological observations; geophysical survey results;	24/05/2021 related to this edition of JORC Table
data	geochemical survey results; bulk samples – size and	1.
	method of treatment; metallurgical test results;
	bulk density, groundwater, geotechnical and rock
	characteristics; potential deleterious or

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Criteria	JORC Code explanation	Commentary
	contaminating substances.
Further work	• The nature and scale of planned further work (e.g.	• Ongoing exploration and mine planning
	tests for lateral extensions or depth extensions or	assessment continues to take place at the Rover
	large-scale step-out drilling).	Project.
	• Diagrams clearly highlighting the areas of possible
	extensions, including the main geological
	interpretations and future drilling areas, provided
	this information is not commercially sensitive.

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

Criteria	JORC Code explanation	Commentary
Database	• Measures taken to ensure that data has not	• No new Resource information is being
integrity	been corrupted by, for example, transcription	presented.
	or keying errors, between its initial collection
	and its use for Mineral Resource estimation
	purposes.
	• Data validationprocedures used.
Site visits	• Comment on any site visits undertaken by the	• Mr Savage has been on-site supervising the
	Competent Person and the outcome of those	drilling program relating to the results under
	visits.	consideration.
	• If no site visits have been undertaken indicate
	why this is the case.
Geological	• Confidence in (or conversely, the uncertainty	• No new Resource information is being
interpretation	of) the geological interpretation of the	presented.
	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
	_andgeology. _
Dimensions	• The extent and variability of the Mineral	• No new Resource information is being
	Resource expressed as length (along strike or	presented.
	otherwise), plan width, and depth below
	surface to the upper and lower limits of the
	Mineral Resource.

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Criteria	JORC Code explanation	Commentary
Estimation	• The nature and appropriateness of the	• No new Resource information is being
and modelling	estimation technique(s) applied and key	presented.
techniques	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.
Moisture	• Whether the tonnages are estimated on a dry	• No new Resource information is being
	basis or with natural moisture, and the	presented.
	method of determination of the moisture
	content.
Cut-off	• The basis of the adopted cut-off grade(s) or	• No new Resource information is being
parameters	quality parameters applied.	presented.

24 May 2021

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ASX Announcement

Criteria	JORC Code explanation	Commentary
Mining factors	• Assumptions made regarding possible mining	• No new Resource information is being
or	methods, minimum mining dimensions and	presented.
assumptions	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.
Metallurgical	• The basis for assumptions or predictions	• No new Resource information is being
factors or	regarding metallurgical amenability. It is	presented.
assumptions	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.
Environmental	• Assumptions made regarding possible waste	• No new Resource information is being
factors or	and process residue disposal options. It is	presented.
assumptions	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.
Bulk density	• Whether assumed or determined. If assumed,	• Bulk density of mineralisation at the Rover

ASX Announcement

24 May 2021

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Criteria	JORC Code explanation	Commentary
	the basis for the assumptions. If determined,	Project is variable, dependant on lithology,
	the method used, whether wet or dry, the	alteration and mineralisation.
	frequency of the measurements, the nature,	• Geological technicians perform routine
	size and representativeness of the samples.	density test-work on core samples of both
	• The bulk density for bulk material must have	host rock and mineralisation.
	been measured by methods that adequately	• Density measurements have been
	account for void spaces (vugs, porosity, etc.),	determined using the water immersion
	moisture and differences between rock and	technique.
	alteration zones within the deposit.	• Bulk density is assigned by lithology.
	• Discuss assumptions for bulk density
	estimates used in the evaluation process of
	the different materials.
Classification	• The basis for the classification of the Mineral	• Resources are classified in line with JORC
	Resources into varying confidence categories.	guidelines utilising a combination of
	• Whether appropriate account has been taken	estimation quality parameters, and geological
	of all relevant factors (i.e. relative confidence	knowledge.
	in tonnage/grade estimations, reliability of	• This approach considers all relevant factors
	input data, confidence in continuity of	and reflects the Competent Person’s view of
	geology and metal values, quality, quantity	the deposit.
	and distribution of the data).
	• Whether the result appropriately reflects the
	Competent Person’s view of the deposit.
Audits or	• The results of any audits or reviews of	• Resource estimates are peer reviewed by the
reviews	Mineral Resource estimates.	site technical team as well as Westgold’s
		Corporate technical team.
Discussion of	• Where appropriate a statement of the	• All currently reported resources estimates
relative	relative accuracy and confidence level in the	are considered robust, and representative of
accuracy/	Mineral Resource estimate using an approach	deposits on a global scale.
confidence	or procedure deemed appropriate by the	• No production data exists to compare the
	Competent Person. For example, the	resource estimate against.
	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 theprocedures used.

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ASX Announcement	ASX Announcement		24 May 2021
Criteria	JORC Code explanation	Commentary
	• These statements of relative accuracy and
	confidence of the estimate should be
	compared with production data, where
	available.

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