CHALICE MINING LIMITED — Capital/Financing Update 2022

Dec 12, 2022

ASX Announcement

13 December 2022

Julimar flowsheet development and scoping update

Metallurgical testwork on enhanced PGE recovery options highlights the potential for material upside to metallurgical recoveries

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Highlights
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• « New metallurgical testwork for the Julimar Ni-Cu-PGE Project , focusing on flotation tails leaching and staged grinding, has highlighted the potential to materially enhance overall metallurgical recoveries from the deposit :

• « Leaching testwork has demonstrated the potential to recover material quantities of palladium, platinum and gold from the flotation tails , which requires further detailed testwork and assessment which is underway.

• « Palladium, platinum and, to a lesser degree, nickel and cobalt flotation recoveries show improvement in tests grinding to 25µm, relative to the previous testwork at 38µm, which also requires more detailed assessment.

• « An update to the Mineral Resource Estimate for Gonneville (Resource) is planned in late Q1 2023 to incorporate the recently completed detailed infill drilling and results received from 60 recently reported wide-spaced step-out drill holes :

• « Initial mining optimisation studies have indicated that the conceptual open pits are constrained by the limit of drill data only .

• « Selective mining approaches , which are being evaluated in the Scoping Study require modelling utilising data from the detailed infill drilling to accurately assess these options.

• « The Scoping Study has made good progress evaluating a broad range of scale, mining and flowsheet options, which is necessary given the size, uniqueness and significant optionality of the Resource .

• « To fully evaluate options, the Scoping Study will be extended to allow the new metallurgical testwork results and the updated Resource to be modelled and incorporated.

• « A revised study completion timeline will be determined once the Resource is updated in late Q1 2023.

• « An independent review of the key study areas completed to date has provided a strong endorsement of the quality and scope of the work completed to date.

• « External reviews of the metallurgical testwork to date and flowsheet design has also identified further opportunities for improvement , which will be evaluated in the next phase of studies.

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Registered Office ABN 47 116 648 956 Level 3, 46 Colin Street, West Perth WA 6005, Australia PO Box 428, West Perth WA 6872

info@chalicemining.com @chalicemining www.chalicemining.com chalice-mining

T: +61 8 9322 3960

Overview

Chalice Mining Limited (“Chalice” or “the Company”, ASX: CHN | OTCQB: CGMLF) is pleased to provide an update on technical and development studies at its 100%-owned Julimar Nickel-CopperPlatinum Group Element (PGE) Project (the Project), located ~70km north-east of Perth in Western Australia.

Chalice’s understanding of the Project continues to evolve rapidly with recent technical studies and scoping assessments highlighting which development options are favoured from a value, optionality and risk perspective. However, the studies have demonstrated that the scale of the Resource and uniqueness of the mineralogy at Julimar has resulted in a longer study duration than originally anticipated to determine the preferred development pathway.

The Company continues to take a measured and systematic approach in the current Scoping Study phase, which includes more comprehensive analysis in certain areas (in particular in mineralogy and metallurgy) than would typically be undertaken at the Scoping Study level.

Flowsheet development work has continued and has converged recently on options that would further enhance metal recovery beyond a typical base metal sulphide processing flowsheet. Importantly, recent metallurgical testwork has demonstrated the potential to improve recoveries of palladium, platinum and gold through leaching of the flotation tails and/or finer grinding.

Given the unique mineralogy of the Gonneville Resource, experimentation in this phase of testwork was expected to, and has delivered, opportunities as the study work progresses.

Recently announced exploration results have also delineated new wide zones of high-grade sulphide mineralisation up to ~650m beyond the current Gonneville Resource (350Mt @ 0.96g/t 3E, 0.16% Ni, 0.10% Cu, 0.015% Co (~0.58% NiEq or ~1.8g/t PdEq) (refer to ASX Announcement on 8 July 2022 and Appendix B).

Initial mining optimisation studies have indicated that conceptual pit stages are constrained by the limit of drill data, especially at the northern end of the Gonneville Resource where recent drilling assay results were reported (refer to ASX Announcement on 23 November 2022). These studies have also highlighted that selective mining approaches (targeting higher grade zones) require further modelling of the recently completed localised 10m spaced infill drilling, in order to accurately evaluate these options. In light of this, a further Resource update is now planned for late Q1 2023.

The planned metallurgical testwork and Resource update have the potential to materially impact the economics of the Project and, as such, the Company has determined that the Scoping Study originally scheduled for release in late 2022 should be extended to allow the results from this work to be incorporated. The value opportunities identified are considered sufficiently material to warrant this additional work.

Independent external reviews of metallurgical testwork to date and flowsheet design by internationally recognised consultants have also identified further opportunities for improvement, which will be evaluated in the next phase of studies. An independent review of the key study areas completed to date has provided a strong endorsement of the quality and scope of the work.

Chalice Managing Director and CEO, Alex Dorsch, said: “The recent metallurgical testwork results have highlighted a material opportunity to deliver significant improvement to metallurgical recoveries through leaching of the flotation tails and/or finer grinding. The new results point to a significant step forward in metallurgical understanding of the unique PGE-rich nature of the deposit.

“This, combined with the recent wide, PGE-rich step-out drilling results to be incorporated in the Resource update in Q1 next year, have given us compelling reasons to extend the Scoping Study in order to fully evaluate and understand the additional value potential.

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“With a unique polymetallic deposit of this scale and potential, our Scoping Study represents a critical iterative process that should explore all credible development options. We will complete our technical studies to the highest possible standard and explore all avenues to unlock the full value of the Resource for our shareholders.”

Process flowsheet design

Several processing flowsheet options are being investigated, with the aim of maximising metallurgical recoveries while minimising costs and risk. Given the large scale of the Resource and unique characteristics of the Project, flowsheet design and optimisation is likely to continue throughout the study phases, with additional flowsheet steps and capital investment alternatives continually assessed.

Utilising insights from mineralogy investigations and initial flotation test work programs, the flowsheet components considered to date include:

• « Conventional crush/grind using gyratory and cone crushers, Semi-Autonomous Grinding (SAG), ball and vertical grinding mills;

• « Selective Cu-Ni flotation : conventional sulphide sequential flotation into separate copper and nickel smelter-grade concentrates for offtake;

• « Bulk Ni-Cu-PGE flotation : conventional sulphide bulk flotation into a single PGE smelter-grade concentrate for offtake and/or selective regrinding and flotation of the bulk concentrate into separate copper and nickel smelter-grade concentrates for offtake; and,

• « Enhanced Ni-Co concentrate enrichment : conventional sulphide sequential flotation into copper smelter-grade concentrates for offtake, plus bulk flotation of a Ni-Fe-Co-PGE concentrate for processing in a hydrometallurgical concentrate enrichment process to produce a Ni-Co intermediate product for offtake, along with a Cu-PGE-Au concentrate for offtake.

Conventional sulphide sequential flotation into copper and nickel concentrates is common in Western Australia, while hydrometallurgical concentrate enrichment is an emerging approach, particularly in nickel sulphide operations. Historically, large-scale Ni-Cu-PGE sulphide deposits such as Norilsk, Jinchuan and Sudbury have warranted vertically integrated upstream (flotation) and downstream (smelting/refining) processing.

Chalice is currently progressing flowsheet options in the upstream and midstream space only, but further downstream options off-site may be investigated in future.

Due to the unique PGE-rich nature of the Gonneville sulphide deposit, a copper concentrate and nickel concentrate enrichment flowsheet is currently the preferred option (Figure 1).

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Figure 1.Proposed Julimar Processing Flowsheet (simplified)

Flotation concentration

To date, over 150 batch flotation tests and 25 locked cycle flotation tests have been used to develop preliminary flotation flowsheets and recovery algorithms for use in the mine planning process.

The testwork results indicate that production of a valuable Cu-PGE-Au concentrate indicatively grading >25% Cu and 100-150g/t 3E is readily achieved even at low copper grades, and this contains the majority of the recovered palladium and gold. This is expected to be a highly marketable concentrate for sale to international copper smelters.

Use of a selective flotation approach to recover nickel to a marketable concentrate is readily achieved from the moderate to higher grade samples. However, the use of a hydrometallurgical process is considered a favourable option to achieve maximum recovery and payability, particularly for lower grade samples.

Work is currently exploring the production of a bulk Ni-Fe-Co-PGE concentrate for treatment using a hydrometallurgical process technology such as Pressure Oxidation (POx) to produce intermediate products such as a Mixed Hydroxide Precipitate (MHP).

Data indicates that this approach can improve recoveries of all metals and further testwork will be undertaken to explore opportunities to improve recovery and the types of mineralisation that can be viably treated.

Flotation tails leaching testwork results

Preliminary sighter tests of agitated intense leaching on nickel cleaner and rougher flotation tails at atmospheric conditions and bottle roll on locked cycle test (cycle 4) tails have demonstrated positive results, with the potential to achieve low residual Pd content in leach tails (Table 1 and Table 2).

Table 1. 24hr agitated intense leach testwork of Ni cleaner and rougher flotation tails – palladium results.

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|---|---|---|---|
|Composite|Grind size (µm)|Composite head grade (g/t Pd)|Leach tails grade (g/t Pd)|
|JSG1|53|3.66|0.33|
|JSG5|53|2.15|0.36|
|JSG6|38|1.27|0.14|
|JSG11|38|1.74|0.10|
|JSLoS4|38|1.90|0.09|

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Table 2. 48hr bottle roll leach testwork of flotation LCT tails (cycle 4) – palladium results.

Composite	Grind size (µm)	Composite head grade (g/t Pd)	Leach tails grade (g/t Pd)
JSLoS4	38	1.90	0.18
JSG4-3	38	1.58	0.14
JSDS 4	38	1.15	0.17

Composite details are listed in Appendix A.

Further testwork is required to optimise leach conditions and results, determine metal recovery method from solution and overall recoveries of the combined flotation and leach circuit. The above tests have also shown potential to recover lesser amounts of platinum and gold, in addition to palladium. The results are considered material and as such they will be evaluated in detail within the Scoping Study.

Optimisation work continues in order to determine grind size and reagent options. The addition of a flotation leach circuit also potentially opens the possibility of treating the oxide and transitional mineralisation in addition to sulphide mineralisation.

Grind size testwork results

All flotation testwork to date has considered primary grind size range of 38-75µm (P80). Geometallurgical recovery vs grade relationships have been determined from testwork predominantly at a 38µm primary grind.

Recent testwork investigating enhanced recovery at finer grinding (<38µm) shows that there is considerable variation in the flotation tails grade across composites, although the trend shows that tails grades decrease with finer grinding (Figure 2).

The optimal grinding size to minimise flotation tails grade has yet to be determined, particularly in the case of palladium and platinum.

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Figure 2. Palladium and platinum in flotation tails at various grind sizes (all tests to date).

It should be cautioned that the samples, and therefore potential improvement in recovery, may not be representative of the Gonneville Resource as a whole. Further investigation and testwork is therefore required before incorporation into the Scoping Study.

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Hydrometallurgical concentration

The current conceptual flowsheet includes a Pressure Oxidation (POx) stage on the Ni-Fe-Co-PGE concentrate. Pressure oxidation is a process whereby oxygen is injected into an autoclave (pressure vessel) along with the concentrate to produce an autogenous reaction that heats the concentrate and liberates the valuable metals into solution.

The remaining solids are separated from the cooled solution, washed, and deposited into a tailings storage facility, while the metal-rich liquid is forwarded through several treatment stages. The liquor leachate containing precious metals, nickel, cobalt and copper is then treated with a reducing agent to precipitate the copper and precious metals from solution. This is then filtered and washed to produce a saleable product.

Nickel and cobalt remain in solution which is forwarded to a further stage where these metals are precipitated from solution by a base reagent to produce a Mixed Hydroxide Precipitate (MHP).

Results from preliminary laboratory testing of a Ni-Fe-Co-PGE concentrate from Gonneville (contains a high proportion of nickel sulphides, which is also accompanied by other sulphides: pyrite, chalcopyrite and pyrrhotite) resulted in excellent leach extraction for all metals.

More extensive testing will examine the flowsheet options for the bulk Ni-Fe-Co-PGE concentrate in H1 2023. Options include investigating the application of pressure oxidation, as well as emerging technologies such as glycine leaching.

Product marketing and offtake strategy

The sequential copper flotation and nickel concentrate enrichment process flowsheet is expected to produce:

• « A copper-palladium-platinum-gold concentrate, indicatively grading 20-25% Cu and 100-150g/t 3E for offtake to an international copper smelter(s); and

• « A Nickel-Cobalt Mixed Hydroxide Precipitate (using flotation and POx), assumed to be grading 40-50% Ni and 4-5% Co for offtake to an international battery precursor cathode active material (pCAM) refinery(ies).

Cu-PGE-Au concentrate

The Cu-PGE-Au concentrate is likely to be a highly marketable concentrate for sale to smelters. There are more than 30 copper smelters worldwide that purchase concentrate feed on the open market.

Six copper smelter/refinery complexes have been identified in Asia, Europe and North America with an associated, established PGE refinery (required given the high PGE content within the concentrate). These processing complexes typically treat PGE bearing copper concentrates along with secondary materials (such as auto catalysts) and produce a high-value PGE product, typically a palladium/platinum sponge.

It is expected that this group of specialist copper smelter/refineries will be the likely destination for the Julimar Cu-PGE-Au concentrate as they already have the necessary downstream PGE refining capacity in place and off-take arrangements with end-product customers. Payability for copper, palladium, platinum and gold in concentrate is expected to be excellent, although it is cautioned that no offtake agreements are currently in place.

Nickel-Cobalt Mixed Hydroxide Precipitate

Nickel-Cobalt MHP is an intermediate nickel product which is becoming the preferred feedstock into the lithium-ion battery and electric vehicle market, whereby MHP is typically processed into nickel sulphate (NiSO4) before incorporation into Li-ion batteries with nickel cathode chemistries.

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MHP currently represents a small portion of the global nickel market (<5% nickel production) however is expected to grow to >10% by 2030[1] . Global MHP production capacity is expected to almost quadruple in the next decade, with major investment currently underway to build new projects to supply the EV battery value chain.

Most of this additional supply is expected to come from new High Pressure Acid Leach (HPAL) projects in Indonesia with investment driven by Chinese-owned nickel & battery materials groups.

There has been increasing inbound interest in relation to potential production of MHP from Julimar given the trend of regionalisation of supply chains (e.g., the US Inflation Reduction Act). Discussion with industry participants suggests that a price premium for intermediate nickel products sourced from Australia is possible in the future for these reasons.

MHP does not require smelting or refining into nickel metal, and therefore eliminates these costs and carbon emissions.

Authorised for release by the Board of the Company.

For further information please visit www.chalicemining.com or contact:

Corporate Enquiries Media Enquiries Follow our communications Alex Dorsch Nicholas Read LinkedIn: chalice-mining Managing Director & CEO Principal and Managing Director Twitter: @chalicemining Chalice Mining Limited Read Corporate Investor Relations +61 8 9322 3960 +61 8 9388 1474 info@chalicemining.com info@readcorporate.com.au

1 Source: Roskill - Nickel Sulphate: Outlook to 2030

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About the Julimar Nickel-Copper-PGE Project

The 100%-owned Julimar Nickel-Copper-PGE Project is located ~70km north-east of Perth in Western Australia and is surrounded by world-class infrastructure. The Project was staked in early 2018 as part of Chalice’s global search for high-potential nickel sulphide exploration opportunities.

Chalice discovered the Gonneville Deposit in the very first drill hole at the project in March 2020, intersecting shallow high-grade PGE-nickel-copper-cobalt-gold sulphide mineralisation. Gonneville is located on private farmland at the southern end of the newly discovered >30km long Julimar Complex.

In November 2021, Chalice defined a tier-1 scale, pit-constrained maiden Mineral Resource Estimate (Resource) for Gonneville. The maiden Resource confirmed Gonneville is one of the largest recent nickel-copper-PGE sulphide discoveries worldwide, and the largest PGE discovery in Australian history – demonstrating the potential for Julimar to become a strategic, long-life ‘green metals’ asset.

In July 2022, the Resource for Gonneville was updated to 350Mt @ 0.96g/t 3E, 0.16% Ni, 0.10% Cu, 0.015% Co (~0.58% NiEq or ~1.8g/t PdEq) (refer to ASX Announcement on 8 July 2022 and Appendix B).

The Resource includes a significant higher-grade sulphide component starting from a depth of ~30m, affording the project significant optionality in development and the potential to materially enhance project economics in the initial years of operations.

The Gonneville Resource is interpreted to cover just ~7% of the interpreted Julimar Complex strike length, with initial large scale exploration activities underway over the remaining strike length. As such the region is considered highly prospective for further orthomagmatic Ni-Cu-PGE discoveries.

The majority of the Julimar Complex lies beneath a portion of the Julimar State Forest, a ~29,000ha area administered by the Government of WA under the Conservation and Land Management Act 1984. Exploration and mining activities may be permitted within State Forest areas with the concurrence of both the Minister for Environment and Minister for Mines in WA, subject to normal regulatory approval processes.

The Julimar State Forest was the subject of intensive forestry activities until the 1970’s, after which time the area was proposed to be upgraded to a Conservation Park. The proposal has not been progressed, largely because the mineral potential of the area is not sufficiently known and partly because the southern portion of the State Forest is within an existing bauxite mining state agreement (ML 1SA).

Chalice's ongoing exploration drilling program in the Julimar State Forest is utilising specialist diamond drill rigs with a small footprint and does not involve any mechanised clearing of vegetation or excavation. Comprehensive flora, fauna and cultural heritage surveys and monitoring are being undertaken according to industry best practice. The low-impact exploration program is strictly governed by a Conservation Management Plan (CMP) approved by the WA Government in late 2021.

Chalice sees exploration and mining activities within a small portion of the State Forest as an overwhelming net positive to the environment, as the green metals at Julimar play a key role in enabling decarbonisation technologies, and the vast majority of the ~29,000ha area not impacted by mining could ultimately be upgraded in conservation status.

The significant Julimar discovery has defined the new West Yilgarn Ni-Cu-PGE Province, an almost entirely unexplored mineral province which is interpreted to extend for ~1,200km along the western margin of the Yilgarn Craton. Chalice holds an unrivalled >8,000km[2] land position in this exciting new area and is leveraging its competitive ‘first mover’ advantage.

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Figure 3. Julimar Complex, Gonneville Deposit, Project tenure and nearby infrastructure.

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Competent Persons Statement

The information in this announcement that relates to Metallurgical Testwork Results in relation to the Julimar Nickel-Copper-PGE Project is based on and fairly represents information and supporting documentation compiled by Mr Rod Lawry BSc (Metallurgy) of Scott Dalley Francks Pty Ltd. Mr Lawry is a Competent Person, and a Member of the Australian Institute of Mining and Metallurgy. Mr Lawry is a consultant to the Company and has sufficient experience that is relevant 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, Minerals Resources and Ore Reserves. Mr Lawry does not hold securities in Chalice Mining Limited. Mr Lawry has verified the data disclosed in this release, including sampling, analytical and test data underlying the information contained in this release. Mr Lawry consents to the inclusion in the announcement of the matters based on his information in the form and context in which it appears.

The Information in this announcement that relates to prior exploration results for the Julimar Project is extracted from the following ASX announcement:

• « “Outstanding Wide High-Grade Intersections Nth of Gonneville”, 23 November 2022.

The above announcement is available to view on the Company’s website at www.chalicemining.com. The Company confirms that it is not aware of any new information or data that materially affects the exploration results included in the original announcement. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original announcement. The Information in this announcement that relates to Mineral Resources has been extracted from the ASX announcement titled “Updated Gonneville Mineral Resource” dated 8 July 2022. This announcement is available to view on the Company’s website at www.chalicemining.com.

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original announcement and that all material assumptions and technical parameters underpinning the estimates in the original release continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person and Qualified Person’s findings are presented have not been materially modified from the relevant original market announcement. Refer to Appendix B and Appendix C for further information on the Mineral Resource Estimate and metal equivalents.

Forward Looking Statements

This announcement may contain forward-looking statements and forward information, including forward looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, forward-looking statements). These forward-looking statements are made as of the date of this announcement and Chalice Mining Limited (the Company) does not intend, and does not assume any obligation, to update these forward-looking statements.

Forward-looking statements relate to future events or future performance and reflect Company management’s expectations or beliefs regarding future events and include, but are not limited to: the impact of the discovery on the Julimar Project’s capital payback; the Company’s strategy and objectives; the realisation of mineral resource estimates; the likelihood of further exploration success; the timing of planned exploration and study activities on the Company’s projects; mineral processing strategy; access to sites for planned drilling activities; and the success of future potential mining operations and the timing of the receipt of exploration results.

In certain cases, forward-looking statements can be identified by the use of words such as, “can”, “considered”, “could”, “estimate”, “expected”, “for”, “future”, “is”, “likely”, “may”, “open”, “opportunity”, “optionality”, “plan” or “planned”, “possible”, “potential”, “strategy”, “will” or variations of such words and phrases or statements that certain actions, events or results may, could, would, might or will be taken, occur or be achieved or the negative of these terms or comparable

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terminology. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.

Such factors may include, among others, risks related to actual results of current or planned exploration activities; whether geophysical and geochemical anomalies are related to economic mineralisation or some other feature; whether visually identified mineralisation is confirmed by laboratory assays; obtaining appropriate approvals to undertake exploration activities; metal grades being realised; metallurgical recovery rates being realised; results of planned metallurgical test work including results from other zones not tested yet, scaling up to commercial operations; changes in project parameters as plans continue to be refined; changes in exploration programs and budgets based upon the results of exploration, changes in commodity prices; economic conditions; political and social risks, accidents, labour disputes and other risks of the mining industry; delays or difficulty in obtaining governmental approvals, necessary licences, permits or financing to undertake future mining development activities; changes to the regulatory framework within which Chalice operates or may in the future; movements in the share price of investments and the timing and proceeds realised on future disposals of investments, the impact of the COVID 19 pandemic as well as those factors detailed from time to time in the Company’s interim and annual financial statements, all of which are filed and available for review on the ASX at asx.com.au and OTC Markets at otcmarkets.com.

Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

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Metallurgical sample details – Julimar Project

Appendix A

Table 3. Metallurgical sample details – Julimar Ni-Cu-PGE Project.

Composite ID	Zone	Holes selected	Mineralisation style	Head assay grades
JSG1	G1 & G2	JD001, JD003, JD005 – JD010	Massive-Matrix-Heavily Disseminated	3.66g/t Pd 0.73g/t Pt 0.15g/t Au 0.36% Cu 0.63% Ni 0.04% Co
JSG5	G5	JD005, JD009	Massive-Matrix-Heavily Disseminated	2.15g/t Pd 0.78g/t Pt <0.05g/t Au 0.17% Cu 0.19% Ni 0.02% Co
JSG6	G6	JD005, JD006, JD009	Massive-Matrix-Heavily Disseminated	1.27g/t Pd 0.30g/t Pt 0.06g/t Au 0.09% Cu 0.15% Ni 0.02% Co
JSG11	G11	JD034, JD035. JD051	Massive-Matrix-Heavily Disseminated	1.74g/t Pd 0.32g/t Pt 0.22g/t Au 0.46% Cu 0.19% Ni 0.02% Co
JSG4-3	G4	JD034, JD035, JD051, JD056	Disseminated	1.58g/t Pd 0.34g/t Pt 0.21g/t Au 0.09% Cu 0.16% Ni 0.02% Co
JSDS4	Disseminated	JD013, JD015, JD020, JD022, JD023, JD063	Disseminated	1.15g/t Pd 0.25g/t Pt 0.09g/t Au 0.21% Cu 0.22% Ni 0.02% Co
				1.90g/t Pd 0.47g/t Pt
JSLoS-4	G4	JD232, JD258	Disseminated	0.21g/t Au 0.06% Cu
				0.12% Ni 0.01% Co

Table 4. Drill hole details for metallurgical samples – Julimar Ni-Cu-PGE Project.

Hole ID	Type	Easting (m)	Northing (m)	RL (m)	Azi (°)	Dip (°)	Composite ID	Zone
JD001	Diamond	424,978	6,512,319	235	090	-60	JSG1	G1
JD003	Diamond	425,049	6,512,507	239	089.5	-78	JSG1	G2
JD005	Diamond	424,975	6,512,359	235	090.9	-71	JSG1, JSG4, JSG5, JSG6	G1, G4, G5, G6
JD006	Diamond	425,020	6,512,429	236	090.1	-80	JSG1, JSG3, JSG4, JSG6,	G2, G3, G4, G6
JD007	Diamond	425,071	6,512,429	238	090.9	-60	JSG1	G2
JD008	Diamond	424,964	6,512,591	245	088.4	-60	JSG1	G1
JD009	Diamond	425,049	6,512,590	243	091.4	-61	JSG1, JSG5, JSG6	G1, G2, G5, G6
JD010	Diamond	424,992	6,512,315	235	123.9	-50	JSG1	G2
JD013	Diamond	424,976	6,512,540	241	101	-75	JSDS4	Disseminated
JD015	Diamond	425,048	6,512,317	237	91	-60	JSDS4	Disseminated
JD020	Diamond	425,519	6,512,709	253	92	-62	JSG4-2, JSDS4	G4, Disseminated
JD022	Diamond	424,899	6,512,322	235	89	-61	JSG4-2, JSDS4	G4, Disseminated
JD023	Diamond	424,888	6,512,600	248	117	-67	JSDS4	Disseminated
JD034	Diamond	425,437	6,513,036	258	90	-60	JSG4-3, JSG11	G4, G11
JD035	Diamond	425,538	6,512,816	252	88	-61	JSG4-3, JSG11	G4, G11
JD051	Diamond	425,488	6,512,920	257	88	-60	JSG4-3, JSG11	G4, G11
JD056	Diamond	425,579	6,512,652	247	89	-60	JSG4-3	G4
JD063	Diamond	425,138	6,512,239	235	89	-61	JSDS4	Disseminated
JD232	Diamond	425,161	6,513,116	262	89	-61	JSLoS-4	G4
JD258	Diamond	425,156	6,513,241	264	126	-64	JSLoS-4	G4

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Appendix B Mineral Resource Estimate – Julimar Project

Table 5. Gonneville Mineral Resource Estimate (JORC Code 2012), 8 July 2022.

Domain Cut-off Grade
	Category	Mass	Grade		Contained Metal
		(Mt)	Pd (g/t) Pt (g/t) Au (g/t) Ni (%) Cu (%) Co (%)	NiEq (%) PdEq (g/t)	Pd (Moz) Pt (Moz) Au (Moz) Ni (kt) Cu (kt) Co (kt)	NiEq (kt) PdEq (Moz) - 0.54 - 0.03 - 0.57 93 0.90 6 0.06 99 0.96 1,300 12 610 5.9 1,900 18 0.3 0 35 0.34 35 0.34 1,400 14 650 6.3 2,000 20
Oxide 0.9g/t Pd	Indicated	8.6	1.9 - 0.06 - - -	- 1.9	0.52 - 0.02 - - -
	Inferred	0.4	1.9 - 0.13 - - -	- 2.0	0.03 - 0.00 - - -
	Subtotal	9.1	1.9 - 0.06 - - -	- 1.9	0.55 - 0.02 - - -
	Indicated	14	0.80 0.19 0.03 0.17 0.12 0.024	0.65 2.0	0.37 0.09 0.01 24 17 3
Sulphide 0.4%
	Inferred	1.1	0.64 0.17 0.03 0.14 0.11 0.016	0.55 1.6	0.02 0.01 0 2 1 0
(Transitional) NiEq
	Subtotal	15	0.79 0.19 0.03 0.16 0.12 0.023	0.65 1.9	0.39 0.09 0.01 25 18 4
	Indicated	220	0.73 0.16 0.03 0.16 0.10 0.016	0.59 1.8	5.1 1.1 0.20 360 230 34
Sulphide 0.4%
	Inferred	110	0.71 0.15 0.03 0.16 0.11 0.015	0.58 1.7	2.4 0.52 0.10 170 110 16
(Fresh) NiEq
	Subtotal	320	0.72 0.16 0.03 0.16 0.11 0.015	0.58 1.8	7.5 1.7 0.30 530 340 50
	Indicated	0.03	1.7 0.33 0.08 0.16 0.15 0.016	0.99 3.0	0 0 0 0.1 0.1 0.0
Underground MSO	Inferred	2.9	1.8 0.40 0.06 0.27 0.21 0.021	1.2 3.7	0.17 0.04 0.01 7.6 6.0 0.6
	Subtotal	2.9	1.8 0.40 0.06 0.26 0.21 0.021	1.2 3.7	0.17 0.04 0.01 7.6 6.1 0.6
	Indicated	240	0.78 0.16 0.03 0.16 0.10 0.015	0.57 1.8	6.0 1.2 0.22 380 240 37
All	Inferred	110	0.74 0.16 0.03 0.16 0.11 0.015	0.59 1.8	2.6 0.57 0.11 180 120 17
	Total	350	0.77 0.16 0.03 0.16 0.10 0.015	0.58 1.8	8.6 1.8 0.33 560 360 54

Note some numerical differences may occur due to rounding to 2 significant figures. PdEq oxide (Palladium Equivalent g/t) = Pd (g/t) + 1.27x Au (g/t) NiEq sulphide (Nickel Equivalent %) = Ni (%) + 0.33x Pd(g/t) + 0.24x Pt(g/t) + 0.29x Au(g/t) + 0.78x Cu(%) + 3.41x Co(%) PdEq sulphide (Palladium Equivalent g/t) = Pd (g/t) + 0.72x Pt(g/t) + 0.86x Au(g/t) + 2.99x Ni(%) + 2.33x Cu(%) + 10.18x Co(%) MSO optimisation defined reasonable shapes that could be extracted by underground mining methods. Includes drill holes drilled up to and including 18 March 2022.

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Appendix C

Metal Equivalents – Julimar Project

The Gonneville Resource is quoted in both nickel equivalent (NiEq) and palladium equivalent (PdEq) terms to take into account the contribution of multiple potentially payable metals. The cut-off grade for the sulphide domain was determined using NiEq in preference over PdEq, due to the assumed requirement for sulphide flotation to recover the metals.

PdEq is quoted given the relative importance of palladium by value at the assumed prices. Separate metal equivalent calculations are used for the oxide and transitional/sulphide zones to take into account the differing metallurgical recoveries in each zone.

Oxide Domain

Initial metallurgical testwork indicates that only palladium and gold are likely to be recovered in the oxide domain, therefore no NiEq grade has been quoted for the oxide. The PdEq grade for the oxide has been calculated using the formula:

PdEq oxide (g/t) = Pd(g/t) + 1.27x Au(g/t).

• « Metal recoveries based on limited metallurgical test work completed to date:

• « Pd – 75%, Au – 95%.

• « Metal prices used are consistent with those used in the pit optimisation:

• « US$1,800/oz Pd, US$1,800/oz Au.

Transitional and Fresh Sulphide Domains

Based on metallurgical testwork completed to date for the sulphide domain, it is the Company’s opinion that all the quoted elements included in metal equivalent calculations (palladium, platinum, gold, nickel, copper and cobalt) have a reasonable potential of being recovered and sold.

Only limited samples have been collected from the transitional zone due to its relatively small volume. Therefore, the metallurgical recovery of all metals in this domain are unknown. However, given the relatively small proportion of the transition zone in the Mineral Resource, the impact on the metal equivalent calculation is not considered to be material.

Metal equivalents for the transitional and sulphide domains are calculated according to the formula below:

• « NiEq (%) = Ni(%) + 0.33x Pd(g/t) + 0.24x Pt(g/t) + 0.29x Au(g/t) + 0.78x Cu(%) + 3.41x Co(%);

• « PdEq (g/t) = Pd(g/t) + 0.72x Pt(g/t) + 0.86x Au(g/t) + 2.99x Ni(%) + 2.33x Cu(%) + 10.18x Co(%).

Metal recoveries used in the metal equivalent calculations are based on rounded average Resource grades for the higher-grade sulphide domain (>0.6% NiEq cut-off):

• « Pd – 70%, Pt – 70%, Au – 60%, Ni – 55%, Cu – 90%, Co – 55%.

Metal prices used are consistent with those used in the Whittle pit optimisation (based on P20-30 long term analyst estimates):

• « US$1,800/oz Pd, US$1,300/oz Pt, US$1,800/oz Au, US$22,000/t Ni, US$10,500/t Cu and US$75,000/t Co.

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Appendix D

JORC Table 1

D-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. • Diamond core was either quarter cored HQ core or half cored NQ2 core with samples taken over selective intervals ranging from 0.2m to 1.2m (typically 1.0m).
	Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. • Qualitative care taken when sampling diamond drill core to sample the same half of the drill core.
	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 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. • Mineralisation is easily recognised by the presence of sulphides. Diamond drill core sample intervals were selected on a qualitative assessment of sulphide content
Drilling techniques	Drill type (eg. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg. 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). • A mixture of diamond drill core size used including NQ (47.6mm), HQ (63.5mm diameter) or PQ (85mm). Triple tube has been used from surface until competent bedrock and then standard tube thereafter. • Core orientation is by an ACT Reflex (ACT II RD) tool
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed. • Individual recoveries of diamond drill core samples were assessed quantitively by comparing measured core length with expected core length from drillers mark. Generally, core recovery was excellent in fresh rock and approaching 100%. Core recovery in oxide material is often poor due to sample washing out. Core recovery in the oxide zone averages 60%
	Measures taken to maximise sample recovery and ensure representative nature of the samples. • With diamond drilling triple tube coring in the oxide zone is undertaken to improve sample recovery. This results in better recoveries, but recovery is still only moderate to good.

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Criteria	JORC Code explanation Commentary
	• Diamond core samples were consistently taken from the same side of the core
	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 evidence of a sample recovery and grade relationship in unweathered material.
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. • All drill holes were logged geologically including, but not limited to; weathering, regolith, lithology, structure, texture, alteration and mineralisation. Logging was at an appropriate quantitative standard for infill drilling and resource estimation.
	Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. • Logging is considered qualitative in nature. • Diamond drill core is photographed wet before cutting.
	The total length and percentage of the relevant intersections logged. • All holes were geologically 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 was either quarter cored HQ core or half cored NQ2 core with samples taken over selective intervals ranging from 0.2m to 1.2m (typically 1.0m). • Samples collected for metallurgical testwork were either whole core or half HQ core or ¾ PQ core
	If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. • RC assay samples were collected as two 1m splits from the rig cyclone via a cone splitter. The cone splitter was horizontal to ensure sample representivity. Wet or damp samples were noted in the sample logging sheet. A majority of samples were dry. • For samples used for metallurgical testwork, the bulk sample was collected from the cone splitter and sent to the metallurgical laboratory
	For all sample types, the nature, quality and appropriateness of the sample preparation technique. • Sample preparation is industry standard and comprises oven drying, jaw crushing and pulverising to -75 microns (80% pass).
	Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. • Field duplicates were collected from diamond drilling at an approximate ratio of one in twenty five. • Diamond drill core field duplicates collected as ¼ core.
	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. • In the majority of cases the entire hole has been sampled and assayed. • Duplicate sample results were compared with the original sample results and there is no bias observed in the data.

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Criteria	JORC Code explanation Commentary
	Whether sample sizes are appropriate to the grain size of the material being sampled. • Drill sample sizes are considered appropriate for the style of mineralisation sought and the nature of the drilling program.
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. • Diamond drill core underwent sample preparation and geochemical analysis by ALS Perth. Au-Pt-Pd was analysed by 50g fire assay fusion with an ICP-AES finish (ALS Method code PGM-ICP24). A 34-element suite was analysed by ICP-MS following a four-acid digest (ALS method code ME-ICP61 including Ag, Al, As, Ba, Be, Bi, Ca, Cd, Co, Cr, Cu, Fe, Ga, K, La, Mg, Mn, Mo, Na, Ni, P, Pb, S, Sb, Sc, Sr, Th, Ti, Tl, U, V, W, Zn, Zr. Additional ore-grade analysis was performed as required for elements reporting out of range for Ni, Cr, Cu (ALS method code ME-OG-62) and Pd, Pt (ALS method code PGM-ICP27). • These techniques are considered total digests.
	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. • Not applicable as no data from such tools or instruments are reported
	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. • Certified analytical standards and blanks were inserted at appropriate intervals for diamond core with an insertion rate of >5%. All QAQC samples display results within acceptable levels of accuracy and precision.
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel. • Significant drill intersections are checked by the Project Geologist and then by the General Manager Exploration. Significant intersections are cross-checked with the logged geology and drill core after final assays are received. • Metallurgical results have been reviewed and checked by the supervising metallurgist
	The use of twinned holes. • At Gonneville (holes with a JD or JRC prefix) eight sets of twinned holes (RC versus Diamond) have been drilled to provide a comparison between grade/thickness variations over a maximum of 5m separation between drill holes. • Palladium assays have been focused on as part of twin hole comparisons for six sets, with no significant grade bias observed.

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Criteria	JORC Code explanation Commentary
	• Two sets of twins have been analysed for Pd, Ni and Cu with no significant grade bias apparent. • Assays correlate well between holes. In detail there is variation for higher grade samples in terms of both location and grade. There is no discernible bias between drill types.
	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Primary drill data was collected digitally using OCRIS software before being transferred to the master SQL database. • All procedures including data collection, verification, uploading to the database etc are captured in detailed procedures and summarised in a single document.
	Discuss any adjustment to assay data • No adjustments were made to the lab reported 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. • Drill hole collar locations are initially recorded by Chalice employees using a handheld GPS with a +/- 3m margin of error. • RTK-DGPS collar pick-ups replace handheld GPS collar pick-ups and have +/-20 mm margin of error. • Planned and final hole coordinates are compared after pick up to ensure that the original target has been tested.
	Specification of the grid system used. • The grid system used for the location of all drill holes is GDA94 - MGA (Zone 50).
	Quality and adequacy of topographic control. • RLs for reported holes were derived from RTK-DGPS pick-ups.
Data spacing and distribution	Data spacing for reporting of Exploration Results. • Diamond drill hole spacing is variable given the early stage of exploration drilling.
	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. • At the Gonneville deposit RC and diamond drill hole spacing varies from between 40m x 40 m in the south to 80m x 80m in the north and west of the deposit.
	Whether sample compositing has been applied. • No compositing undertaken for diamond drill core or RC samples.
Orientation of data in relation to geological structure	Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. • RC and Diamond drill holes at Gonneville were typically oriented within 15° of orthogonal to the interpreted dip and strike of the known zone of mineralisation. However, several holes were drilled at less optimal azimuths due to site access constraints or to test for alternative mineralisation orientations. At exploration targets the orientation of any mineralisation intersected is unknown.

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Criteria	JORC Code explanation	Commentary	Commentary
	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	•	The orientation of the drilling is not considered to have introduced sampling bias.
	material.
		•	Samples were collected in polyweave
			bags at the core cutting facility. The
			polyweave bags have five samples
			each and are cable tied.
Sample	The measures taken to ensure sample	•	Filled bags were collected into
security	security.		palletised bulk bags at the field office
			and delivered directly from site to ALS
			laboratories in Wangara, Perth by a
			Chalice contractor several times
			weekly.
		•	Cube Consulting conducted a site visit
			and review of the sampling techniques
			and data as part of the July 2022
			Resource Estimate on 12 May 2022.
Audits or	The results of any audits or reviews of	•	SRK completed an independent
reviews	sampling techniques and data.		assurance review of the Chalice
			procedures and documentation in
			2021, which continue to apply in 2022,
			and the appropriateness of Cube
			Consulting estimation methods
			employed

D-2 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. • Exploration activities are ongoing over E70/5119. The holder CGM (WA) Pty Ltd is a wholly owned subsidiary of Chalice Mining Limited • Portions of E70/5119 cover the Julimar State Forest, in which Chalice has an approved Conservation Management Plan and Native Vegetation Clearing Permit. • E70/5119 partially overlaps ML1SA, a State Agreement covering Bauxite mineral rights only. • There are no known encumbrances other than the ones noted above.
	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. • There are no known impediments to operating on the tenements where they cover private freehold land. • The tenements are in good standing. • E70/5119 partially overlaps ML1SA, a State Agreement covering Bauxite mineral rights only.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties. • There is no previous exploration at Gonneville and only limited exploration has been completed by

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Criteria	JORC Code explanation	Commentary	Commentary
			other exploration parties in the vicinity
			of the targets identified by Chalice to
			date.
		•	Chalice has compiled historical
			records dating back to the early
			1960’s which indicate only three
			genuine explorers in the area, all
			primarily targeting Fe-Ti-V
			mineralisation.
		•	Over 1971<1972, Garrick Agnew Pty
			Ltd undertook reconnaissance surface
			sampling over prominent
			aeromagnetic anomalies in a search
			for ‘Coates deposit style’ vanadium
			mineralisation. Surface sampling
			methodology is not described in
			detail, nor were analytical methods
			specified, with samples analysed for
			V2O5, Ni, Cu, Cr, Pb and Zn, results of
			which are referred to in this
			announcement.
		•	Three diamond holes were completed
			by Bestbet Pty Ltd targeting Fe-Ti-V
			situated approximately 3km NE of
			JRC001.
		•	Bestbet Pty Ltd undertook 27 stream
			sediment samples within E70/5119.
			Elevated levels of palladium were
			noted in the coarse fraction
			(<5mm+2mm) are reported in this
			release. Finer fraction samples did not
			replicate the coarse fraction results.
		•	A local AMAG survey was flown in
			1996 by Alcoa using 200m line
			spacing which has been used by
			Chalice for targeting purposes.
		•	A local AMAG survey was flown in
			1996 by Alcoa using 200m line
			spacing which has been used by
			Chalice for targeting purposes.
		•	An Alcoa and CRA JV completed
			seven diamond holes in the 1970s
			targeting a magnetic high to the
			north of E70/5119 and the east of
			E70/5351testing for vanadium
			(Boomer Hill).
		•	The target deposit type is an
			orthomagmatic Ni-Cu-PGE sulphide
			deposit, within the Yilgarn Craton. The
Geology	Deposit type, geological setting and style of mineralisation.		style of sulphide mineralisation intersected consists of massive, matrix, stringer and disseminated sulphides
			typical of metamorphosed and
			structurally overprinted
			orthomagmatic Ni sulphide deposits.
Drill hole Information	A summary of all information material to the understanding of the exploration	•	Not applicable
	resultsincluding atabulationof the

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Criteria	JORC Code explanation Commentary
	following information for all Material drill holes: Easting and northing of the drill hole collar Elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar Dip and azimuth of the hole Down hole length and interception depth 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. • No material information has been excluded.
Data aggregation methods	In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg. cutting of high grades) and cut-off grades are usually Material and should be stated. • No significant intercepts reported
	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. • Not applicable
	The assumptions used for any reporting of metal equivalent values should be clearly stated. • Metal price assumptions used in the metal equivalent calculations are: US$1,800/oz Pd, US$1,300/oz Pt, US$1,800/oz Au, US$22,000/t Ni, US$10,500/t Cu, US$75,000/t Co. • Metallurgical recovery assumptions used in the metal equivalent calculation for the oxide material are: Pd – 75%, Au – 95%. • Hence for the oxide material PdEq (g/t) = Pd (g/t) + 1.27 x Au (g/t). • Metallurgical recovery assumptions used in the metal equivalent calculation for the sulphide (fresh) material are: Pd – 70%, Pt – 70%, Au – 60%, Ni – 55%, Cu – 90%, Co - 55%. • Hence for the sulphide material NiEq = Ni (%) + 0.33x Pd(g/t) + 0.24x Pt(g/t) + 0.29x Au(g/t) + 0.78x Cu(%) + 3.41x Co(%)and PdEq = Pd (g/t) + 0.72x Pt(g/t) + 0.86x Au(g/t) + 2.99x Ni(%) + 2.33x Cu(%) + 10.18x Co(%) • The volume of transitional material is small and considered unlikely to materially affect the overall metal equivalent calculation.

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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. • At Gonneville RC and Diamond drill holes were typically oriented within 15° of orthogonal to the interpreted dip and strike of the known zone of mineralisation. However, several holes were drilled at less optimal azimuths due to site access constraints or to test for alternative mineralisation orientations.
	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’). • All widths are quoted down-hole. True widths vary depending on the orientation of the hole and the orientation of the mineralisation.
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. • N/A
Balanced reporting	Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results. • No exploration results reported.
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. • Leach testwork conditions used at Auralia Metallurgy, for agitated intense leach: 24hr duration, temp 25°C, 10,000ppm NaCN reagent concentration, 1 Leachwell tablet catalyst, Perth tap water • Leach testwork conditions used at Auralia Metallurgy, for bottle roll leach: 48hr duration, temp 25°C, 0.1% NaCN reagent concentration, pH 10.0, DO => 20ppm, Perth tap water • All meaningful data has been included
Further work	The nature and scale of planned further work (eg. tests for lateral Exts or depth Exts or large-scale step-out drilling). • Further metallurgical testwork on flotation tails leaching and finer grind is planned
	Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive. • N/A

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