CATALINA RESOURCES LTD — Capital/Financing Update 2022

Dec 18, 2022

ASX RELEASE.

ASX Announcement 19 December 2022

Catalina Resources is an Australian diversified mineral exploration and mine development company.

Directors

Director and Company Secretary Sanjay Loyalka

Non-Executive Director Davide Bosio

Non-Executive Director Richard Beazley

ASX Code

CTN

Initial drilling program completed at Dundas.

Catalina Resources (“Catalina” or “the Company”) is pleased to provide an update on the recently completed air core drilling program at Dundas.

Highlights

• 105 air core holes for 2684m completed, to test the identified lithium pegmatite potential and historical gold anomalies, in the southern portion of the tenement E63/2046.

• Pegmatite intersected in 18 holes. Accessory

• minerals identified include beryl and tourmaline.

• Other rock types intersected include sulphidic

• sediments and quartz sulphide veined schists.

• Cultural heritage survey clears a large area in

• E63/2048 targeted for in-fill auger drilling in early 2023.

CONTACT DETAILS

Unit 38 18 Stirling Highway NEDLANDS WA 6009

Air core drilling within the Dundas Project was completed in midDecember 2022 without incident or lost time injuries. The drilling program is summarised in figure 1 and achieved its objectives of:

T +61 8 61181672

E info@catalinaresources.com.au

 Confirming the presence of pegmatites. These pegmatites have not been previously assayed for lithium or REEs.  Drilling along strike of historical drilling intersections of up to 3 g/t Au. A much wider area than had previously been drilled in 1998¹ was drill tested by Catalina. Approximately 126 RAB/air core holes and 127 RC holes were drilled by Pan Aust Ltd in 1998.

 Drilling by Catalina collected samples to not only assess the LCT (lithium cesium tantalum) potential of the pegmatites but to also assess the REE potential of the project.

Several ore grade historical gold intersections were not followed up. For example, 2m @ 3.5 g/t Au in hole T4RC032¹. Hence, extensional air core drilling was carried out along strike of historical gold intersections to identify the optimal gold geochemistry for testing by RC drilling in 2023.

Catalina Resources Limited ACN: 130 618 683 W: www.catalinaresources.com.au

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Figure 1. Air core drilling plan and data summary for southern portion of the tenement E63/2046. Also illustrated are the pegmatite occurrences recorded in historical drilling logs¹. Underlying image is the regional aeromagnetic image.

Pegmatite was intersected in many more holes than was expected, causing several drill holes to reach drilling refusal before the planned depth. For example, in hole 22DAC061, illustrated in figure 2, pegmatite (white piles) was intersected at the end of hole, from 24m-26m.

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Figure 2. Sample piles from air core hole 22DAC061. Pegmatite (white piles) was intersected at the end

of hole, from 24m-26m.

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During geological logging of air core holes, several pegmatite intervals were recorded as containing accessory minerals including beryl and tourmaline. Such occurrences are important to recognising the mineralisation potential of the pegmatite. These minerals may suggest that the late-stage crystallising residual or pegmatitic melt, derived from the main granitic magma, may have been enriched in incompatible elements including Li, Be, B, Cs, Rb, Ta and REEs.

Other rock types intersected included a wide sequence (400m) of graphitic, calcareous, and pyritic black shales and silts and quartz sulphide veined schists. Depending on the age of these rocks, potential for sediment hosted base metal mineralisation (Cu, Pb, Zn) of the Mt Isa type may exist.

A cultural heritage survey was conducted by members of the Ngadju Native Title Aboriginal Corporation over Catalina’s Exploration Licence E63/2048 in November, figure 3. The survey was directed at clearing access lines for in-fill auger drilling in early 2023. Historical auger geochemistry² in 2012 identified large and robust gold in soil geochemical anomalies, up to 6 kms in length, illustrated in figure 3. Aeromagnetic interpretation suggests they may be spatially associated with the interpreted and mineralised Boulder Lefroy Fault Zone (BLFZ). There has been no drill testing of the anomalies within E63/2048.

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Figure 3. Several large and robust gold in soil geochemical anomalies is spatially associated with the interpreted BLFZ (Boulder Lefroy Fault Zone) in E63/2048 and represents a high priority for drilling.

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Next Steps.

Gold and multi element assays (Base Metals, Li, Ta, Cs, REEs) are expected to be received in January 2023.

As discussed above, infill auger drilling of the large geochemical anomalies in E63/2048 is expected to commence in January or February 2023.

Planning has commenced on the follow up RC drilling of any anomalous assays to be received.

The release of this document to the market has been authorised by the Board of Catalina Resources.

ABOUT CATALINA RESOURCES LIMITED

Catalina Resources Limited is an Australian diversified mineral exploration and mine development company whose vision is to create shareholder value through the successful exploration of prospective gold, base metal, lithium and iron ore projects and the development of these projects into production.

Cautionary Statement

• The Exploration Results for Dundas have been reported by former owners.

• The source and date of the Exploration Results reported by the former owners have been referenced in the body of this announcement where Exploration Results have been reported;

• The historical Exploration Results have not been reported in accordance with the JORC Code 2012.

• A Competent Person has not done sufficient work to disclose the historical Exploration Results in accordance with the JORC Code 2012.

• It is possible that following further evaluation and/or exploration work that the confidence in the prior reported Exploration Results may be reduced when reported under the JORC Code 2012;

• That nothing has come to the attention of the acquirer that causes it to question the accuracy or reliability of the historical Exploration Results; but

• Catalina Resources has not independently validated the historical Exploration Results and therefore is not to be regarded as reporting, adopting or endorsing those results

• A summary of the work programs on which the Exploration Results quoted in this announcement are included in Appendix 1;

• There are no more recent Exploration Results or data relevant to the understanding of the Exploration Results.

• An assessment of the additional exploration or evaluation work that is required to report the Exploration Results in accordance with JORC Code 2012 will be undertaken following acquisition & will be funded by the Company.

Competent Person Statement

The review of historical exploration activities and results contained in this report is based on information compiled by Michael Busbridge, a Member of the Australian Institute of Geoscientists and a Member of the Society of Economic Geologists. He is a consultant to Shree Minerals Ltd. He has sufficient experience which is relevant to the style of mineralisation and types of deposits under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012

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edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code).

Michael Busbridge has consented to the inclusion in the report of the matters based on his 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.

References.

¹ E Robinson, P. 1998. Yilgarn Extension Project (Group 2). E63/419, 433, 434, 450, 451, 452, 453, 454, 459, 460, 461, 462, 463, 464, 465, 466, 467, 468, 469, 472, 488, 508, 536, 537, 563 Buldania Project Area, Annual Report. Reference: C396/1996. Work completed on 1 January 1997 to 31 December 1997. Pan Australian Exploration Pty Ltd. WAMEX Item no. A53726.

² Eddison, F.J. 2012. Viking Project. Viking 5 – C25/2011. Combined Annual Report to the Dept. Mines and Petroleum for the period 1/10/2011 to 30/9/2012. AngloGold Ashanti Australia Ltd. WAMEX Item No. A096139.

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APPENDIX 1: Catalina Resources Air core hole collar coordinates.

Tenement	Hole_Id	Drill_Type	Mapsheet_Name	MGA_East	MGA_North	MGA_GridID
E63/2046	22DAC001	AC	Norseman	432300	6421850	MGA94_51
E63/2046	22DAC002	AC	Norseman	432400	6421850	MGA94_51
E63/2046	22DAC003	AC	Norseman	432500	6421850	MGA94_51
E63/2046	22DAC004	AC	Norseman	432600	6421850	MGA94_51
E63/2046	22DAC005	AC	Norseman	432700	6421850	MGA94_51
E63/2046	22DAC006	AC	Norseman	432800	6421850	MGA94_51
E63/2046	22DAC007	AC	Norseman	433100	6421850	MGA94_51
E63/2046	22DAC008	AC	Norseman	433200	6421850	MGA94_51
E63/2046	22DAC009	AC	Norseman	433300	6421850	MGA94_51
E63/2046	22DAC010	AC	Norseman	433400	6421850	MGA94_51
E63/2046	22DAC011	AC	Norseman	433500	6421850	MGA94_51
E63/2046	22DAC012	AC	Norseman	433600	6421850	MGA94_51
E63/2046	22DAC013	AC	Norseman	433000	6421050	MGA94_51
E63/2046	22DAC014	AC	Norseman	433100	6421050	MGA94_51
E63/2046	22DAC015	AC	Norseman	433200	6421050	MGA94_51
E63/2046	22DAC016	AC	Norseman	433300	6421050	MGA94_51
E63/2046	22DAC017	AC	Norseman	433400	6421050	MGA94_51
E63/2046	22DAC018	AC	Norseman	433500	6421050	MGA94_51
E63/2046	22DAC019	AC	Norseman	432300	6420650	MGA94_51
E63/2046	22DAC020	AC	Norseman	432400	6420650	MGA94_51
E63/2046	22DAC021	AC	Norseman	432500	6420650	MGA94_51
E63/2046	22DAC022	AC	Norseman	432600	6420650	MGA94_51
E63/2046	22DAC023	AC	Norseman	432700	6420650	MGA94_51
E63/2046	22DAC024	AC	Norseman	432800	6420650	MGA94_51
E63/2046	22DAC025	AC	Norseman	432850	6420650	MGA94_51
E63/2046	22DAC026	AC	Norseman	432900	6420650	MGA94_51
E63/2046	22DAC027	AC	Norseman	432950	6420650	MGA94_51
E63/2046	22DAC028	AC	Norseman	433000	6420650	MGA94_51
E63/2046	22DAC029	AC	Norseman	433050	6420650	MGA94_51
E63/2046	22DAC030	AC	Norseman	433100	6420650	MGA94_51
E63/2046	22DAC031	AC	Norseman	433150	6420650	MGA94_51
E63/2046	22DAC032	AC	Norseman	433200	6420650	MGA94_51
E63/2046	22DAC033	AC	Norseman	433300	6420650	MGA94_51
E63/2046	22DAC034	AC	Norseman	433400	6420650	MGA94_51
E63/2046	22DAC035	AC	Norseman	433500	6420650	MGA94_51
E63/2046	22DAC036	AC	Norseman	432800	6420230	MGA94_51
E63/2046	22DAC037	AC	Norseman	432900	6420230	MGA94_51
E63/2046	22DAC038	AC	Norseman	433000	6420230	MGA94_51
E63/2046	22DAC039	AC	Norseman	433050	6420230	MGA94_51
E63/2046	22DAC040	AC	Norseman	433100	6420230	MGA94_51
E63/2046	22DAC041	AC	Norseman	433150	6420230	MGA94_51
E63/2046	22DAC042	AC	Norseman	433200	6420230	MGA94_51
E63/2046	22DAC043	AC	Norseman	433250	6420230	MGA94_51
E63/2046	22DAC044	AC	Norseman	433300	6420230	MGA94_51
E63/2046	22DAC045	AC	Norseman	433400	6420230	MGA94_51
E63/2046	22DAC046	AC	Norseman	433500	6420230	MGA94_51
E63/2046	22DAC047	AC	Norseman	432900	6420060	MGA94_51
E63/2047	22DAC047a	AC	Norseman	432950	6420060	MGA94_51
E63/2046	22DAC048	AC	Norseman	433000	6420060	MGA94_51
E63/2046	22DAC049	AC	Norseman	433100	6420060	MGA94_51
E63/2046	22DAC050	AC	Norseman	433200	6420060	MGA94_51
E63/2046	22DAC051	AC	Norseman	433250	6420060	MGA94_51
E63/2046	22DAC052	AC	Norseman	433300	6420060	MGA94_51
E63/2046	22DAC053	AC	Norseman	433400	6420060	MGA94_51
E63/2046	22DAC054	AC	Norseman	433500	6420060	MGA94_51
E63/2046	22DAC055	AC	Norseman	433100	6419660	MGA94_51

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Tenement	Hole_Id	Drill_Type	Mapsheet_Name	MGA_East	MGA_North	MGA_GridID
E63/2046	22DAC056	AC	Norseman	433200	6419660	MGA94_51
E63/2046	22DAC057	AC	Norseman	433300	6419660	MGA94_51
E63/2046	22DAC058	AC	Norseman	433400	6419660	MGA94_51
E63/2046	22DAC059	AC	Norseman	433500	6419660	MGA94_51
E63/2046	22DAC060	AC	Norseman	433600	6419660	MGA94_51
E63/2046	22DAC061A	AC	Norseman	433300	6418850	MGA94_51
E63/2047	22DAC061B	AC	Norseman	433300	6418850	MGA94_51
E63/2046	22DAC061	AC	Norseman	433400	6418850	MGA94_51
E63/2046	22DAC062	AC	Norseman	433500	6418850	MGA94_51
E63/2046	22DAC063	AC	Norseman	433600	6418850	MGA94_51
E63/2046	22DAC064	AC	Norseman	433700	6418850	MGA94_51
E63/2046	22DAC065	AC	Norseman	433800	6418850	MGA94_51
E63/2046	22DAC066	AC	Norseman	433900	6418850	MGA94_51
E63/2046	22DAC067	AC	Norseman	433450	6418600	MGA94_51
E63/2046	22DAC068	AC	Norseman	433550	6418600	MGA94_51
E63/2046	22DAC069	AC	Norseman	433650	6418600	MGA94_51
E63/2046	22DAC070	AC	Norseman	433750	6418600	MGA94_51
E63/2046	22DAC071	AC	Norseman	433500	6418000	MGA94_51
E63/2046	22DAC072	AC	Norseman	433600	6418000	MGA94_51
E63/2046	22DAC073	AC	Norseman	433700	6418000	MGA94_51
E63/2046	22DAC074	AC	Norseman	433800	6418000	MGA94_51
E63/2046	22DAC075	AC	Norseman	434050	6420460	MGA94_51
E63/2046	22DAC076	AC	Norseman	434150	6420460	MGA94_51
E63/2046	22DAC077	AC	Norseman	434250	6420460	MGA94_51
E63/2046	22DAC078	AC	Norseman	434100	6419840	MGA94_51
E63/2046	22DAC079	AC	Norseman	434200	6419840	MGA94_51
E63/2046	22DAC080	AC	Norseman	434300	6419840	MGA94_51
E63/2046	22DAC081	AC	Norseman	434400	6419840	MGA94_51
E63/2046	22DAC082	AC	Norseman	434500	6419840	MGA94_51
E63/2046	22DAC083	AC	Norseman	434600	6419840	MGA94_51
E63/2046	22DAC084	AC	Norseman	434400	6419350	MGA94_51
E63/2046	22DAC085	AC	Norseman	434500	6419350	MGA94_51
E63/2046	22DAC086	AC	Norseman	434600	6419350	MGA94_51
E63/2046	22DAC087	AC	Norseman	434700	6419350	MGA94_51
E63/2046	22DAC088	AC	Norseman	434400	6418750	MGA94_51
E63/2046	22DAC089	AC	Norseman	434500	6418750	MGA94_51
E63/2047	22DAC089a	AC	Norseman	434550	6418750	MGA94_51
E63/2046	22DAC090	AC	Norseman	434600	6418750	MGA94_51
E63/2046	22DAC091	AC	Norseman	434700	6418750	MGA94_51
E63/2046	22DAC092	AC	Norseman	434800	6418750	MGA94_51
E63/2046	22DAC093	AC	Norseman	434900	6418750	MGA94_51
E63/2046	22DAC094	AC	Norseman	434450	6418400	MGA94_51
E63/2046	22DAC095	AC	Norseman	434550	6418400	MGA94_51
E63/2046	22DAC096	AC	Norseman	434650	6418400	MGA94_51
E63/2046	22DAC097	AC	Norseman	434750	6418400	MGA94_51
E63/2046	22DAC098	AC	Norseman	434850	6418400	MGA94_51

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JORC Code, 2012 Edition – Table 1

Section 1 Sampling Techniques and Data

Criteria	JORC Code explanation		Commentary
Sampling	Nature and quality of sampling (eg cut	•	Catalina Resources completed 105 air core drill
techniques	channels, random chips, or specific		holes for 2684m at its Dundas prospect,
	specialised industry standard measurement		Norseman, WA.
	tools appropriate to the minerals under	•	Drilling is located within Catalina’s E63/2046,
	investigation, such as down hole gamma		during Nov & Dec 2022.
	sondes, or handheld XRF instruments, etc).	•	Air core sampling was undertaken at 1-m intervals
	These examples should not be taken as		using a Meztke Static Cyclone.
	limiting the broad meaning of sampling.	•	Most 1-meter samples were dry and weighed
	Include reference to measures taken to		between 1.5 and 3 kgms. Occasional ground
	ensure sample representivity and the		water intersected at the bottom of holes caused
	appropriate calibration of any measurement		some samples to be wet.
	tools or systems used.	•	1-meter sample piles from the cyclone were laid
	Aspects of the determination of		out in orderly rows on the ground.
	mineralisation that are Material to the Public	•	Using a hand-held trowel, 4m composite samples
	Report.		were collected from the one-meter piles. This
	In cases where ‘industry standard’ work has		compositing was aimed to reduce assaying costs.
	been done this would be relatively simple	•	These composite samples weighed between 2
	(eg ‘reverse circulation drilling was used to		and 3 kgms.
	obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.	• •	For any anomalous 4m composite sample assays, the corresponding one-meter samples will be collected and assayed (fire assay) in the new year. Quality control of the assaying comprised the collection of a duplicate sample every second hole, along with the regular insertion of industry (OREAS) standards (certified reference material) every other hole.
		•	Samples were sent to Bureau Veritas labs in
			Kalgoorlie.
		•	Samples will be pulverized so that 75% of the
			sample passes 75µ.
		•	A 30 gm charge from each of the pulp will then be
			digested via aqua regia acid and fire assay. Only
			Au will be assayed in Kalgoorlie via BV code
			FA001.
		•	Pulps will then be forwarded to Bureau Veritas
			Labs in Cannington for analysis of 48 elements
			(incl REEs and Li) via a mixed acid digest. BV
			CodeMA102.
Drilling	Drill type (eg core, reverse circulation,	•	The drilling contractor was Gyro Drilling from
techniques	open-hole hammer, rotary air blast, auger,		Kalgoorlie. Gyro uses 3m drill rods.
	Bangka, sonic, etc) and details (eg core	•	Drilling to blade refusal; Hole diameter 85mm /
	diameter, triple or standard tube, depth of		3.5”.
	diamond tails, face-sampling bit or other	•	Air core drilling uses a three-bladed steel or
	type, whether core is oriented and if so, by		tungsten drill bit to penetrate the weathered layer
	what method, etc).		of loose soil and rock fragments. The drill rods are
			hollow and feature an inner tube with an outer
			barrel (like RC drilling).
		•	Air core drilling uses small compressors (750
			cfm/250 psi) to drill holes into the weathered layer
			of loose soil and fragments of rock. After drilling is
			complete,an injection of compressed air is

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Criteria	JORC Code explanation	Commentary
		unleashed into the space between the inner tube
		and the drill rods inside wall, which flushes the
		cuttings up and out of the drill hole through the
		rod’s inner tube, causing less chance of cross-
		contamination.
		•Air core drill rigs are lighter in weight than other
		rigs, meaning they’re quicker and more
		manoeuvrable in the bush.
		•Gyro used an Air 750 CFM / 250 PSI Sullair
		Compressor with additional Air Booster Support
		750 CFM/250PSI.
Drill sample	Method of recording and assessing core	•Representative air core samples collected as 1-
recovery	and chip sample recoveries and results	meter intervals, with corresponding chips placed
	assessed.	into chip trays and kept for reference at Catalina’s
	Measures taken to maximise sample	facilities.
	recovery and ensure representative nature	•Most samples were dry and sample recovery was
	of the samples.	very good.
	Whether a relationship exists between	•Catalina does not anticipate any sample bias from
	sample recovery and grade and whether	loss/gain of material from cyclone.
	sample bias may have occurred due to
	preferential loss/gain of fine/coarse grained
	material.
Logging	Whether core and chip samples have been	•All air core samples were lithologically logged
	geologically and geotechnically logged to a	using standard industry logging software on a
	level of detail to support appropriate Mineral	notebook computer.
	Resource estimation, mining studies and	•Carbonate alteration was logged using
	metallurgical studies.	hydrochloric acid and magnetism recorded using a
	Whether logging is qualitative or	hand-held magnetic pen.
	quantitative in nature. Core (or costean,	•Logging is qualitative in nature.
	channel, etc) photography.	•Drill sample piles and chip trays have been
	The total length and percentage of the	photographed, as in figure 2 of this
	relevant intersections logged.	announcement.
		•All geological information noted above has been
		completed by a competent person as recognized
		by JORC.
Sub-sampling	If core, whether cut or sawn and whether	•Air core sampling was undertaken on 1m intervals
techniques and	quarter, half or all core taken.	using a Meztke Static Cone splitter.
sample	If non-core, whether riffled, tube sampled,	•Most 1-meter samples were dry and weighed
preparation	rotary split, etc and whether sampled wet or	between 2 and 3 kgms.
	dry.	•Samples from the cyclone were laid out in orderly
	For all sample types, the nature, quality and	rows on the ground.
	appropriateness of the sample preparation	•Using a hand-held trowel, 4m composite samples
	technique.	were collected from the one-meter piles.
	Quality control procedures adopted for all	•These composite samples weighed between 2
	sub-sampling stages to maximise	and 3 kgms.
	representivity of samples.	•For any anomalous 4m composite sample assays,
	Measures taken to ensure that the sampling	the corresponding one-meter samples are also
	is representative of the in situ material	collected and assayed.
	collected, including for instance results for	•Quality control of the assaying comprised the
	field duplicate/second-half sampling.	collection of a duplicate sample every hole, along
	Whether sample sizes are appropriate to the grain size of the material being sampled.	with the regular insertion of industry (OREAS) standards (certified reference material) every hole. •Samples were sent to Bureau Veritas labs in
		Kalgoorlie.

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Criteria	JORC Code explanation		Commentary
		•	Samples will be pulverized so that 75% of the
			sample passes 75µ.
		•	Samples pulps will then be digested via aqua
			regia acid. Gold will be assayed via BV method
			FA001.
		•	Pulps will then be forwarded to Bureau Veritas
			Labs in Cannington for analysis of 48 elements via
			BVcodeMA102.
Quality of	The nature, quality and appropriateness of	•	All assaying will be completed by Bureau Veritas
assay data and	the assaying and laboratory procedures		Labs.
laboratory tests	used and whether the technique is considered partial or total. For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.	• • • • • •	4m Composite samples were assayed by Aqua Regia (AR) with ICP-MS (partial digest) BV method FA001. Sample detection is 100 ppb Au. REE, Li and pathfinders will be assayed by BV method MA102 (Mixed Acid digestion). Anomalous One metre samples will be assayed at BV labs. Composite samples will be dissolved via a mixed acid (4 acid) digest and read by the ICP MS instrument. Standards were industry CRMs from OREAS which included low-grade and average- grade. The methods are considered appropriate for this
			style of mineralization expected.
		•	No density data available.
		•	BV labs routinely re-assay anomalous assays
			(greater than 0.3 g/t Au) as part of their normal
			QAQC procedures.
Verification of	The verification of significant intersections	•	No verification of significant intersections
sampling and	by either independent or alternative		undertaken by independent personnel, only the
assaying	company personnel.		VG geologist.
	The use of twinned holes.	•	Validation of 4m composite assay data will be
	Documentation of primary data, data entry		undertaken to compare duplicate assays,
	procedures, data verification, data storage		standard assays.
	(physical and electronic) protocols.	•	Comparison of assaying between the composite
	Discuss any adjustment to assay data.		samples (fire assay digest) and the 1-meter
			samples (fire assay digest) will be made.
			Comparison of assaying between the composite
			samples (mixed acid digest) and the 1-meter
			samples (mixed acid digest) will be made.
		•	Data is entered into a software program in a desk
			top computer for eventual download into the
			companydatabase.

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Criteria	JORC Code explanation	Commentary
Location of	Accuracy and quality of surveys used to	•All air core drill hole coordinates are in GDA94
data points	locate drill holes (collar and down-hole	Zone 51 (Appendix 1).
	surveys), trenches, mine workings and	•All air core holes were located by handheld GPS
	other locations used in Mineral Resource	with an accuracy of +/- 5 m.
	estimation.	•There is no detailed documentation regarding the
	Specification of the grid system used.	accuracy of the topographic control.
	Quality and adequacy of topographic	•No elevation values (Z) were recorded for collars.
	control.	An elevation of 450 mRL was assigned by VG.
		•There were no Down-hole surveys completed as
		air core drill holes were not drilled deep enough to
		warrant downhole surveying.
Data spacing	Data spacing for reporting of Exploration	•Air core drilling was on a variable line spacing
and	Results.	(160m to 500m) and 100m between drill holes.
distribution	Whether the data spacing and distribution is	•Given the first pass nature of the exploration
	sufficient to establish the degree of	programs, the spacing of the exploration drilling is
	geological and grade continuity appropriate	appropriate for understanding the exploration
	for the Mineral Resource and Ore Reserve	potential and the identification of structural
	estimation procedure(s) and classifications	controls on the mineralisation.
	applied.	•Four- meter sample compositing has been
	Whether sample compositing has been	applied.
	applied.
Orientation of	Whether the orientation of sampling	•The relationship between drill orientation and the
data in relation	achieves unbiased sampling of possible	mineralised structures is not known at this stage
to geological	structures and the extent to which this is	as the prospects are covered by a 3-10m blanket
structure	known, considering the deposit type.	of transported cover.
	If the relationship between the drilling	•It is concluded from aerial magnetics that the
	orientation and the orientation of key	mineralisation trends 000. Dips are unknown as
	mineralised structures is considered to have	the area is covered by a 3m – 20m blanket of
	introduced a sampling bias, this should be	transported cover.
	assessed and reported if material.	•Azimuths and dips of air core drilling was aimed to
		intersect the strike of the rocks at right angles.
		•Downhole widths of mineralisation are not known
		withassaysnotyet received.
Sample	The measures taken to ensure sample	•All samples packaged and managed by Catalina
security	security.	personnel up to and including the delivery of all
		samplestoBV labs.
Audits or	The results of any audits or reviews of	•No sampling techniques or data have been
reviews	sampling techniques and data.	independently audited.

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 security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to •The Dundas Project is within E63/2046. •They form part of a broader tenement package of four exploration tenements located in the Dundas Goldfields in the Norseman region of Western Australia. •The project area was culturally surveyed and cleared in Sept 2022 by the Ngadju Native Title Aboriginal Corporation.

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Criteria JORC Code explanation Commentary
operate in the area. •There are no registered cultural heritage sites within the area. •E63/2046 and E63/2048 are held 100% by Catalina Resources. All tenements are secured by the DMIRS (WA Government). •All tenements are granted, in a state of good standing and have no impediments.
Exploration done by other parties Acknowledgment and appraisal of exploration by other parties. •Only very limited historical exploration has been carried out in the area due to the thin blanket (usually 5 – 10m) of transported cover. •One km spaced auger soil traverses undertaken by AngloGold Ashanti Australia (AngloGold) and a 12ineraliz RAB/RC drilling program by Pan Australian Resources during the 1990’s has identified the presence of gold 12ineralized12on hosted by mafic rocks in E63/2046. Reported intersections include: •T4RC032 2m @ 3.5g/t Au from 23m •T4RC042 1m @ 2.1g/t Au from 87m •The 12ineralized12on remains open, and the associated Au and Cu soil geochemistry (AngloGold’s data) suggests the 12ineralized12on is much more extensive than indicated by past drilling. •Several large and robust gold in soil geochemical anomalies, up to 6 kms in length, are spatially associated with the interpreted BLFZ in E63/2048 and represents a high priority for drilling (Figure 3, this announcement).
Geology Deposit type, geological setting and style of 12ineralized12on. •The Dundas Project forms part of an underexplored green fields region in the Albany Fraser Belt. In 2005, the discovery of the multimillion-ounce Tropicana gold deposit in 2005, 330 kms east of Kalgoorlie in the Albany Fraser Belt, initiated a reassessment of the prospectivity of the province. •A programme of geophysical surveys and geoscientific work, including age dating of rocks, undertaken by the Geological Survey of Western Australia, during 2006-2010, has subsequently shown the Albany Fraser belt to contain reworked Archaean greenstones. •The Project area is now considered to be situated within the inferred SE extensions of the 12ineralized Norseman – Wiluna Belt of the Archaean Yilgarn Craton and comprises a tectonostratigraphic assemblage of mafic, ultramafic and sedimentary dominated units. A major northwest trending fault system transects the tenements and may represent southeast extensions of the prolifically 12ineralized and regionally continuous Zuleika and Boulder-Lefroy Fault systems. •Greenstone belts are commonly hosts to gold and rare- element pegmatites because they are both products of collisional tectonic processes. Rare-element pegmatites form in orogenic hinterlands related to plate convergence. • Thepegmatites areproducts of extreme

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Criteria	JORC Code explanation		Commentary
		fractional crystallization of some granites, derived from
		melting of metasedimentary rocks in continental collision
		zones. The world class Buldannia Lithium Project (Liontown
		Resources) is situated just 25 kms northwest of Shree’s
		tenements.
Drill hole	A summary of all information material	•	Appendix 1 (Air core collar coordinates) lists information
Information	to the understanding of the exploration		material to the understanding of the air core drill holes at
	results including a tabulation of the		the Dundas Projects.
	following information for all Material	•	The documentation for drill hole locations are located in the
	drill holes:		appendices of this announcement and is considered
	easting and northing of the drill hole		acceptable by VG.
	collar	•	Consequently, the use of any data obtained is suitable for
	elevation or RL (Reduced Level –		presentation and analysis.
	elevation above sea level in metres) of	•	Given the early stages of the exploration programs, the
	the drill hole collar		data quality is acceptable for reporting purposes.
	dip and azimuth of the hole down hole length and interception depth	• •	The exploration assay results have not yet been received. Future drilling programs will be dependent on the assays received.
	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,	•	NA.
aggregation	weighting averaging techniques,	•	At the time of this announcement, Drilling sample assay
methods	maximum and/or minimum grade		results have not yet been received for Dundas Projects.
	truncations (eg cutting of high grades)
	and cut-off grades are usually Material
	and should be stated.
	Where aggregate intercepts
	incorporate short lengths of high-
	grade results and longer lengths of
	low- grade results, the procedure used
	for such aggregation should be stated
	and some typical examples of such
	aggregations should be shown in
	detail.
	The assumptions used for any
	reporting of metal equivalent values
	should be clearly stated.
Relationship	These relationships are particularly	•	NA
between	important in the reporting of	•	The geometry and extent of any mineralisation and geology
mineralisation	Exploration Results.		will be provided upon receipt.
widths and	If the geometry of the mineralisation
intercept	with respect to the drill hole angle is
lengths	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 (eg
	‘down hole length, true width not
	_known’). _

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Criteria	JORC Code explanation	Commentary
Diagrams	Appropriate maps and sections (with	•Diagrams showing historical drilling data, drill hole plans
	scales) and tabulations of intercepts	and auger geochemistry by Catalina are used in text of this
	should be included for any significant	announcement.
	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	•Assays are yet to be received from the drilling discussed in
reporting	Exploration Results is not practicable,	this announcement.
	representative reporting of both low	•Exploration results that may create biased reporting has
	and high grades and/or widths should	been omitted from these documents.
	be practiced to avoid misleading	•Appendix 1 – Air core drill hole collar coordinates and
	reporting of Exploration Results.	specs.
Other	Other exploration data, if meaningful	No additional exploration data has been reported.
substantive	and material, should be reported
exploration	including (but not limited to): geological
data	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. _
Further work	The nature and scale of planned	•As discussed in this announcement, auger drilling of large
	further work (eg tests for lateral	historical auger geochemistry anomalies is planned to
	extensions or depth extensions or	commence within E63/2048 in early 2023.
	large-scale step-out drilling).	•Further drilling in E63/2046 is dependent on the air core
	Diagrams clearly highlighting the areas	assay results received from Dundas, expected in late
	of possible extensions, including the	January 2023.
	main geological interpretations and	•Regional detailed aerial magnetic surveys may commence
	future drilling areas, provided this	over the priority target areas, as identified by Catalina.
	information is not commercially
	sensitive.