CONICO LTD — Capital/Financing Update 2022

Nov 24, 2022

ASX Announcement

25[th] November 2022

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ASSAYS RECEIVED FOR THE RYBERG
POLYMETALLIC PROJECT IN GREENLAND
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Highlights

• Assay results from drill core samples at the 100% owned Ryberg project in Greenland have been received from the 2022 drilling campaign.

• Results from Miki Prospect have confirmed that the Miki Dyke is “fertile” and hosts highly anomalous levels of copper, nickel and Platinum Group Elements with better results including;

• MIDD011: 6.00 m @ 0.27% Cu, 0.06% Ni, and 0.31 g/t 3E[1] from 191 m. MIDD012: 1.00 m @ 0.55% Cu, 0.11% Ni, and 0.78 g/t 3E from 77 m & MIDD013: 8.00 m @ 0.22% Cu, 0.04% Ni, and 0.22 g/t 3E from 134 m MIDD014: 9.72 m @ 0.17% Cu, 0.07% Ni, and 0.20 g/t 3E from 55 m.

• At the Sortekap prospect, diamond drilling also demonstrated the potential for nickel, copper, and PGE mineralisation as well as orogenic gold mineralisation. Significant intersections included;

• SODD004: 3.28 m @ 0.41% Cu, 0.07% Ni, and 1.12 g/t 3E from 105.5 m

(Including 1.00 m @ 0.83% Cu, 0.11% Ni and 2.49 g/t 3E from 105.5 m)

&

SODD006:

7.00m @ 0.23 g/t Au from 395 m.

• Assays awaited from Mestersvig Project where diamond drilling over the 2022 field season successfully intersected lead-zinc mineralisation along strike from the historic Blyklippen Mine (previous production of 545,000 tonnes @ 18% Pb-Zn).

1. 3E = Palladium (Pd) + Platinum (Pt) + Gold (Au); expressed in g/t. See appendix 1 for details.

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Conico Ltd ABN 49 119 057 457 Level 15, 197 St George’s Terrace Perth, WA 6000 Australia

@conico_ltd @ConicoLtd conico-limited

+61 (0)8 9282 5889 info@conico.com.au www.conico.com.au

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Discussion

Conico Limited ( ASX: CNJ ) ( Conico or the Company ) is pleased to provide an update on drilling results at the 100% owned Ryberg Project on the east coast of Greenland, approximately 365 km NW of Iceland. A total of 11 diamond drill holes were completed across four prospects during the Greenland field season, targeting Cu-Ni-Au-platinum group element (PGE) mineralisation at the Sortekap, Miki, Cascata and Pyramid prospects. Assay results have now been returned for nine of the eleven holes and confirm the presence of Cu-Ni-PGE mineralisation in dykes at the Miki and Sortekap prospects, and Au mineralisation in a previously unknown zone of quartz veins in the Sortekap Prospect.

Conico has now received all drill core form the 2022 Ryberg and Mestersvig drilling at its facilities in Portugal along with rock samples collected from the Mestersvig project. Assaying of the Mestersvig drill core and rock samples is a high priority, with results expected in December. Samples from Ryberg drillholes that were not sampled on-site will also be processed in the coming weeks.

Executive Director, Guy Le Page, commented :

“The 2022 exploration tested only 3.5 kilometres of the approximately 50kilometre-long Miki dyke and successfully intersected highlight anomalous copper, nickel and PGE’s. Drilling at Sortekap also highlighted the potential of the vast Togeda Dyke to host similar styles of mineralisation in addition to orogenic gold mineralisation”. The Ryberg Project remains lightly tested and we now look forward to receiving the results from the Mestersvig Project where the 2022 drill campaign intersected a number of lead-zinc intercepts along strike from the historical Blyklippen Mine”.

MIKI PROSPECT DETAIL AND DRILL ASSAYS

The Miki Dyke (figure 2) is an NNE trending body of dolerite and gabbro intruded into units of local basement gneiss. Six drill holes (figure 4) were completed along a 3,700 m length of the dyke where the surface width of the dyke varies between approximately 160 m and 400 m. Mineralisation consisting of chalcopyrite variably associated with bornite, pyrrhotite/pyrite, and magnetite was encountered within the footwall of the dyke and the contact zone with the underlying gneiss.

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Drill core samples were collected on-site for five of the six holes and shipped for preparation and assay at an accredited laboratory in Ireland. Assay results from the 2022 Miki drilling include the following:

MIDD010: No significant assays. MIDD011: 6.00 m @ 0.27% Cu, 0.06% Ni, and 0.31 g/t 3E from 191 m. MIDD012: 1.00 m @ 0.55% Cu, 0.11% Ni, and 0.78 g/t 3E from 77 m & 1.00 m @ 0.02% Cu, 0.04% Ni, and 0.15 g/t 3E from 85 m & 4.68 m @ 0.11% Cu, 0.03% Ni, and 0.19 g/t 3E from 205 m. MIDD013: 1.00 m @ 0.11% Cu, 0.04% Ni, and 0.21 g/t 3E from 37 m 2.00 m @ 0.12% Cu, 0.11% Ni, and 0.16 g/t 3E from 60 m 2.00 m @ 0.02% Cu, 0.05% Ni, and 0.14 g/t 3E from 65 m 2.00 m @ 0.10% Cu, 0.03% Ni, and 0.14 g/t 3E from 82 m 2.00 m @ 0.24% Cu, 0.05% Ni, and 0.20 g/t 3E from 102 m 1.00 m @ 0.06% Cu, 0.10% Ni, and 0.17 g/t 3E from 106 m 2.00 m @ 0.11% Cu, 0.03% Ni, and 0.13 g/t 3E from 119 m 2.00 m @ 0.10% Cu, 0.06% Ni, and 0.15 g/t 3E from 128 m 2.00 m @ 0.05% Cu, 0.04% Ni, and 0.12 g/t 3E from 131 m 8.00 m @ 0.22% Cu, 0.04% Ni, and 0.22 g/t 3E from 134 m 1.00 m @ 0.87% Cu, 0.08% Ni, and 0.17 g/t 3E from 145 m MIDD014: 9.72 m @ 0.17% Cu, 0.07% Ni, and 0.20 g/t 3E from 55 m. MIDD015: Drill core now received in Portugal – awaiting sampling and assay.

Mineralisation intercepted in the footwall contact of the Miki dyke albeit low grade, is encouraging as it confirms the targeted mineralisation style of Ni-Cu-PGE-bearing magmatic sulphides coalescing due to gravity within a magma intrusion. The sulphide mineral types intercepted provide good evidence that the dyke is fertile in Cu, Ni and PGE, and given the right structural environment and orientation of the dyke, has the potential to further concentrate these economic sulphides into an area of pooling. Future work will focus on identifying structural changes in the dyke that could accommodate sulphide aggregation to higher grades and thicknesses.

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SORTEKAP PROSPECT DETAIL AND DRILL ASSAYS

Drilling at Sortekap (figure 5) targeted induced polarisation (IP) chargeability and magnetic anomalies from 3D inversions of data collected in 2020 and 2021. Hole SODD004 intersected a zone of mineralisation (see Figure 1) in the footwall of a mafic dyke and the contact zone with the underlying gneiss, coincidental with an IP chargeability anomaly. Mineralisation included weakly disseminated and/or disseminated chalcopyrite with minor pentlandite. The presence of blebby textured sulphides, as well as chalcopyrite and pentlandite is very encouraging as this indicates the sulphides are magmatic and the magma system has the potential to further concentrate a dense metal-bearing sulphide liquid within the magma system. Hole SODD005 intersected the same mineralised zone along strike but assay results indicate weaker mineralisation.

The style of dyke and mineralisation seen in SODD004 (figure 1) and SODD005 resemble that seen in drilling at the Miki Dyke prospect and on surface at the undrilled Togeda Prospect, approximately 11 km south of Sortekap. This suggests either a continuation of dyke structures between Togeda and Sortekap prospects or the presence of additional mineralised dykes within the Ryberg Project.

Hole SODD006 intersected a new zone of quartz veins hosted in dolerite and amphibolite within an anomaly from a 3D inversion model of the aeromagnetic data; assay results indicate the zone to be associated with low-grade gold mineralisation.

Assay results from the 2022 Sortekap drilling include the following:

SODD004: 3.28 m @ 0.41% Cu, 0.07% Ni, and 1.12 g/t 3E from 105.5 m (Including 1.00 m @ 0.83% Cu, 0.11% Ni and 2.49 g/t 3E from 105.5 m) & 1.40 m @ 0.07% Cu, 0.01% Ni, and 0.11 g/t 3E from 109.2 m & 1.00 m @ 0.17% Cu, 0.04% Ni, and 0.33 g/t 3E from 112.8 m & 1.10 m @ 0.06% Cu, 0.02% Ni, and 0.14 g/t 3E from 117.1 m. SODD005: No significant assays. SODD006: 5.57 m @ 0.15 g/t Au from 344.43 m & 2.00 m @ 0.11 g/t Au from 354 m & 1.94 m @ 0.26 g/t Au from 383.2 m & 2.00 m @ 0.33 g/t Au from 387 m & 7.00 m @ 0.23 g/t Au from 395 m.

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While the mineralisation intercepted from the 2022 drilling is generally low grade, Conico considers the season and new data collected to be a very successful outcome. Intercepting magmatic sulphide-hosted Cu-Ni-PGE mineralisation, as well as identifying previously unknown quartz vein-hosted gold mineralisation is a positive result for the season and provides building blocks for further work.

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Figure 1: Image of drill core in SODD004 showing part of the interval containing 3.28 m @ 0.41% Cu, 0.07% Ni, and 1.12 g/t 3E highlighted in magenta, and closeup of blebby magmatic sulphides expanded in red.

Mineralisation consisting of 3.28 m @ 0.41% Cu, 0.07% Ni, and 1.12 g/t 3E (including one metre at 2.28 g/t Pd) intercepted by hole SODD004 in the mafic dyke at Sortekap, and potential links to the mineralisation at the Togeda and Miki prospects are promising new features at the Sortekap Prospect. Grades of up to 2.28 g/t Pd are encouraging as they show the magma system to have potential to concentrate PGE-bearing magmatic sulphides into economic grades. Future work will focus on identifying structural controls on sulphide accumulation, a review of the multielement geochemistry now available, and reassessment of the 2021 geophysical data in light of the 2022 drilling results.

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CASCATA AND PYRAMID RECONNAISSANCE DRILLING

Drill hole CADD003 (figure 6), of 416.5 m length, was drilled at Cascata in 2022. The hole was located approximately 1,600 m SW from the two holes drilled by Conico in 2021 to further investigate the volcanosedimentary sequence and the proposed layered gabbroic intrusive intersected by previous drilling. The hole drilled through a sequence of dykes and volcaniclastic units containing weakly disseminated pyrite and pyrrhotite before encountering a gabbroic body from 369 m to the end of the hole at 416.5 m. Forty-eight samples to test the gabbroic intrusion and establish geochemical backgrounds were assayed but did not return any significant mineralisation. Further geochemical interpretation of the results will be carried out to assess potential affinity with key examples of intrusions hosting known Ni-PGE mineralisation prior to deciding on future additional work at the prospect.

At Pyramid drill hole PYDD001 (figure 7) was drilled to test under a ridge containing magnetite-altered float rocks within an area of a significant anomaly from the 2021 aeromagnetic survey. The hole drilled through a sequence of micaceous shales and calcareous sandstones but was abandoned due to poor ground conditions before reaching the planned target depth. No samples were collected from the drill core while onsite. The drill core has now been received at Conico’s facilities in Portugal where samples may be collected to assess geochemical background values prior to deciding on future additional work at the prospect.

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Figure 2: Prospects within the Ryberg Project area with reduced-to-pole magnetic intensity data from the 2021 geophysical survey.

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Figure 3: Location of the 2021and the 2022 drill holes at Ryberg.

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Figure 4: Location of drill holes at the Miki Prospect.

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Figure 5: Location of drill holes at the Sortekap Prospect.

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Figure 6: Location of drill holes at the Cascata Prospect.

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Figure 7: Location of drill holes at the Pyramid Prospect.

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BACKGROUND

The Ryberg project area is located on the margin of the North Atlantic Large Igneous Province, a major Tertiary volcanic event related to hotspot magmatism and early rifting of the North Atlantic. Within the project area, erosion has exposed Cretaceous-Tertiary sediments in a downfaulted rift basin sitting unconformably on a Precambrian metamorphic basement. The metamorphic basement and the sedimentary sequence host sub-volcanic mafic sill and dyke-complexes that formed local feeder system to flood-basalt eruptions.

By analogy with deposits known to occur related to magmatism in large igneous provinces, Conico believes the project area to have excellent exploration potential for magmatic sulphide-rich Cu-Ni-PGE deposits related to mafic and ultramafic dike-sill complexes, and sulphide-poor PGE deposits related to large layered mafic and ultramafic intrusions.

This announcement is authorised by the Board of Directors.

- END -

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Guy T. Le Page

Executive Director

Conico Limited

M: +61-412-220-159

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APPENDIX 1: COLLAR LOCATION AND DETAILS

Hole ID	Northing	Easting	Elevation	Length (m)	Dip	Azimuth	Comments
CADD003	7584207	592067	623	416.5	-70	340	Diamond
MIDD010	7272632	565668	398	317.0	-50	155	Diamond
MIDD011	7573682	566514	528	206.0	-60	100	Diamond
MIDD012	7574363	566974	682	143.0	-60	160	Diamond
MIDD013	7574637	567211	676	167.0	-60	145	Diamond
MIDD014	7574906	567617	832	80.0	-60	110	Diamond
MIDD015	7571982	565394	316	347.0	-55	120	Diamond
PYDD001	7598721	577738	1268	153.0	-50	150	Diamond
SODD004	7600454	567467	1106	322.4	-65	150	Diamond
SODD005	7600454	567467	1106	221.0	-65	090	Diamond
SODD006	7600664	567284	1170	410.0	-55	275	Diamond

*Easting and Northing coordinates are WGS84 UTM Zone 25N.

APPENDIX 1: ASSAY RESULTS

Table shows all core samples matching one or more of the following criteria: ≥0.1g/t Au, ≥0.1g/t Pd, ≥0.1g/t Pt, ≥500pm Cu, ≥500ppm Ni

Drill hole	From (m)	To (m)	Length (m)	Sample ID	Au g/t	Pd g/t	Pt g/t	Cu ppm	Ni ppm	S %
CADD003	120.00	122.00	2.00	AA-06501	0.003	0.006	0.0126	95.7	1470	0.03
CADD003	130.00	132.00	2.00	AA-06502	0.002	0.003	0.009	68.1	1080	0.1
CADD003	140.00	142.00	2.00	AA-06503	0.003	0.006	0.0134	85.9	1520	0.08
CADD003	210.00	212.00	2.00	AA-06511	0.004	0.002	0.0059	135	1105	0.01
CADD003	220.00	222.00	2.00	AA-06512	0.004	0.003	0.0065	140.5	1275	0.01
CADD003	230.00	232.00	2.00	AA-06514	0.005	0.003	0.008	164.5	1260	0.02
CADD003	240.00	242.00	2.00	AA-06515	0.005	0.004	0.0086	179.5	1275	0.02
CADD003	250.00	252.00	2.00	AA-06516	0.005	0.004	0.0093	166	1395	0.02
CADD003	260.00	262.00	2.00	AA-06517	0.004	0.003	0.0065	133	1270	0.02
CADD003	270.00	272.00	2.00	AA-06518	0.004	0.003	0.0075	119.5	1370	0.03
CADD003	280.00	282.00	2.00	AA-06519	0.004	0.003	0.0068	123.5	1440	0.02
CADD003	290.00	292.00	2.00	AA-06520	0.004	0.004	0.0076	126.5	1405	0.02
CADD003	310.00	312.00	2.00	AA-06522	0.004	0.004	0.0081	119	1435	0.02
CADD003	320.00	322.00	2.00	AA-06523	0.004	0.004	0.0076	124	1350	0.01
CADD003	330.00	332.00	2.00	AA-06524	0.004	0.003	0.0062	106	1220	0.01
CADD003	340.00	342.00	2.00	AA-06525	0.003	0.003	0.0059	88.9	1190	<0.01
CADD003	350.00	352.00	2.00	AA-06526	0.003	0.003	0.006	91.7	1070	<0.01
CADD003	360.00	362.00	2.00	AA-06527	0.003	0.003	0.0056	91.6	875	0.01
MIDD011	190.00	191.00	1.00	AA-06586	0.006	0.073	0.0096	529	257	0.05
MIDD011	191.00	192.00	1.00	AA-06587	0.024	0.307	0.0091	3120	646	0.33
MIDD011	192.00	193.00	1.00	AA-06588	0.022	0.309	0.0122	3050	677	0.48
MIDD011	193.00	194.00	1.00	AA-06589	0.088	0.369	0.031	4110	632	0.62
MIDD011	194.00	195.00	1.00	AA-06591	0.016	0.21	0.0094	2150	390	0.43
MIDD011	195.00	196.00	1.00	AA-06592	0.01	0.131	0.0106	1060	354	0.16
MIDD011	196.00	197.00	1.00	AA-06593	0.027	0.238	0.0155	2830	678	0.42
MIDD011	197.00	197.90	0.90	AA-06594	0.006	0.064	0.0062	729	409	0.08
MIDD012	76.00	77.00	1.00	AA-06602	0.003	0.027	0.0115	140.5	680	0.01
MIDD012	77.00	78.00	1.00	AA-06603	0.088	0.668	0.0272	5530	1135	0.45
MIDD012	78.00	79.00	1.00	AA-06604	0.007	0.076	0.0087	706	381	0.08
MIDD012	79.00	80.00	1.00	AA-06605	0.008	0.074	0.011	590	903	0.06
MIDD012	80.00	81.00	1.00	AA-06606	0.005	0.021	0.0076	257	1020	0.02

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MIDD012	81.00	82.00	1.00	AA-06607	0.003	0.011	0.0077	121.5	933	0.01
MIDD012	82.00	83.00	1.00	AA-06608	0.003	0.01	0.0066	103.5	563	<0.01
MIDD012	83.00	84.00	1.00	AA-06610	0.003	0.009	0.0113	123.5	703	0.01
MIDD012	84.00	85.00	1.00	AA-06611	0.002	0.012	0.006	221	556	0.03
MIDD012	85.00	86.00	1.00	AA-06612	0.009	0.123	0.0205	232	350	0.02
MIDD012	97.00	98.00	1.00	AA-06625	0.006	0.021	0.0054	763	260	0.04
MIDD012	105.00	106.00	1.00	AA-06633	0.014	0.108	0.0085	878	372	0.08
MIDD012	106.00	107.00	1.00	AA-06634	0.015	0.169	0.0123	1700	480	0.18
MIDD012	107.00	108.00	1.00	AA-06635	0.008	0.257	0.0089	204	228	0.03
MIDD012	108.00	108.80	0.80	AA-06636	0.009	0.125	0.006	499	256	0.07
MIDD012	108.80	109.68	0.88	AA-06638	0.011	0.178	0.0054	2440	345	0.44
MIDD012	109.68	111.00	1.32	AA-06639	0.005	0.04	0.0022	1220	162	0.37
MIDD012	111.00	112.00	1.00	AA-06641	0.003	0.063	0.0021	931	201	0.16
MIDD013	37.00	38.00	1.00	AA-06649	0.02	0.176	0.014	1100	404	0.06
MIDD013	38.00	39.00	1.00	AA-06650	0.005	0.053	0.0107	193.5	907	0.01
MIDD013	39.00	40.00	1.00	AA-06651	0.027	0.078	0.0142	918	1140	0.11
MIDD013	40.00	41.00	1.00	AA-06652	0.005	0.048	0.0114	385	1095	0.07
MIDD013	41.00	42.00	1.00	AA-06654	0.017	0.183	0.0204	2110	1000	0.39
MIDD013	42.00	43.00	1.00	AA-06655	0.014	0.134	0.0158	1990	821	0.51
MIDD013	43.00	44.00	1.00	AA-06656	0.015	0.134	0.0162	2460	623	0.45
MIDD013	45.00	46.00	1.00	AA-06658	0.007	0.036	0.0056	340	709	0.03
MIDD013	46.00	47.00	1.00	AA-06659	0.015	0.145	0.0159	1920	929	0.14
MIDD013	47.00	48.00	1.00	AA-06660	0.024	0.289	0.0312	2780	950	0.26
MIDD013	48.00	49.00	1.00	AA-06661	0.023	0.226	0.0144	1550	356	0.08
MIDD013	55.00	56.00	1.00	AA-06669	0.005	0.029	0.0138	290	755	0.01
MIDD013	56.00	57.00	1.00	AA-06670	0.005	0.022	0.0067	791	626	0.05
MIDD013	57.00	58.00	1.00	AA-06671	0.008	0.061	0.0106	457	665	0.07
MIDD013	58.00	59.00	1.00	AA-06672	0.003	0.02	0.0088	179	1150	0.02
MIDD013	59.00	60.00	1.00	AA-06673	0.008	0.085	0.012	984	809	0.11
MIDD013	60.00	61.00	1.00	AA-06674	0.009	0.106	0.0154	947	977	0.13
MIDD013	61.00	62.00	1.00	AA-06675	0.017	0.15	0.0144	1535	1140	0.21
MIDD013	62.00	63.00	1.00	AA-06676	0.007	0.041	0.0097	257	849	0.04
MIDD013	63.00	64.00	1.00	AA-06677	0.006	0.064	0.0095	518	856	0.06
MIDD013	64.00	65.00	1.00	AA-06678	0.004	0.03	0.0084	224	915	0.03
MIDD013	65.00	66.00	1.00	AA-06680	0.031	0.107	0.0148	302	543	0.04
MIDD013	66.00	67.00	1.00	AA-06681	0.005	0.12	0.0091	141	405	0.02
MIDD013	82.00	83.00	1.00	AA-06690	0.018	0.131	0.0178	1325	336	0.08
MIDD013	83.00	84.00	1.00	AA-06692	0.006	0.108	0.0077	584	284	0.1
MIDD013	85.00	86.00	1.00	AA-06694	0.003	0.006	0.0116	137.5	524	0.01
MIDD013	91.00	92.00	1.00	AA-06700	0.003	0.012	0.0068	173.5	622	0.01
MIDD013	92.00	93.00	1.00	AA-06701	0.005	0.018	0.0076	164.5	544	0.01
MIDD013	102.00	103.00	1.00	AA-06712	0.024	0.219	0.0146	3110	566	0.33
MIDD013	103.00	104.00	1.00	AA-06713	0.014	0.128	0.0094	1650	474	0.15
MIDD013	104.00	105.00	1.00	AA-06714	0.009	0.079	0.0085	663	705	0.06
MIDD013	105.00	106.00	1.00	AA-06715	0.004	0.042	0.0062	343	669	0.04
MIDD013	106.00	107.00	1.00	AA-06716	0.011	0.145	0.0093	570	1045	0.06
MIDD013	107.00	108.00	1.00	AA-06717	0.004	0.035	0.0061	280	1305	0.04
MIDD013	108.00	109.00	1.00	AA-06718	0.007	0.054	0.0077	331	1100	0.05
MIDD013	111.00	112.00	1.00	AA-06722	0.005	0.041	0.0083	351	938	0.05

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MIDD013	112.00	113.00	1.00	AA-06723	0.012	0.091	0.0139	1100	446	0.19
MIDD013	115.00	116.00	1.00	AA-06726	0.006	0.029	0.0059	281	624	0.05
MIDD013	116.00	117.00	1.00	AA-06727	0.011	0.092	0.0108	890	425	0.2
MIDD013	117.00	118.00	1.00	AA-06728	0.01	0.086	0.0102	510	308	0.09
MIDD013	119.00	120.00	1.00	AA-06730	0.012	0.108	0.0112	1220	343	0.26
MIDD013	120.00	121.00	1.00	AA-06732	0.013	0.1	0.0082	912	347	0.18
MIDD013	121.00	122.00	1.00	AA-06733	0.009	0.095	0.0141	734	378	0.18
MIDD013	122.00	123.00	1.00	AA-06734	0.018	0.057	0.0095	621	487	0.14
MIDD013	123.00	124.00	1.00	AA-06735	0.01	0.092	0.0098	887	513	0.16
MIDD013	125.00	126.00	1.00	AA-06737	0.007	0.057	0.0091	497	759	0.11
MIDD013	126.00	127.00	1.00	AA-06738	0.005	0.048	0.0078	591	881	0.15
MIDD013	127.00	128.00	1.00	AA-06739	0.009	0.082	0.0085	738	759	0.17
MIDD013	128.00	129.00	1.00	AA-06740	0.009	0.1	0.0104	785	736	0.17
MIDD013	129.00	130.00	1.00	AA-06741	0.013	0.164	0.012	1175	399	0.25
MIDD013	131.00	132.00	1.00	AA-06743	0.009	0.109	0.0098	496	248	0.07
MIDD013	132.00	133.00	1.00	AA-06744	0.008	0.101	0.0114	556	590	0.1
MIDD013	133.00	134.00	1.00	AA-06745	0.003	0.014	0.0082	130.5	1165	0.05
MIDD013	134.00	135.00	1.00	AA-06746	0.018	0.219	0.0161	2250	439	0.78
MIDD013	135.00	136.00	1.00	AA-06747	0.02	0.197	0.0112	2460	415	0.72
MIDD013	136.00	137.00	1.00	AA-06749	0.015	0.268	0.0114	3170	552	1.06
MIDD013	137.00	138.00	1.00	AA-06750	0.019	0.144	0.0083	1130	305	0.35
MIDD013	138.00	139.00	1.00	AA-06751	0.011	0.165	0.0075	1505	321	0.59
MIDD013	139.00	140.00	1.00	AA-06752	0.019	0.284	0.0148	3510	526	1.26
MIDD013	140.00	141.00	1.00	AA-06753	0.014	0.164	0.0094	1960	319	0.56
MIDD013	141.00	142.00	1.00	AA-06754	0.014	0.119	0.0108	1705	260	0.46
MIDD013	145.00	146.00	1.00	AA-06758	0.004	0.164	0.0035	8720	809	2.46
MIDD013	150.00	151.00	1.00	AA-06764	0.004	0.062	0.002	753	26.2	0.08
MIDD014	45.00	47.00	2.00	AA-06769	0.001	0.004	0.006	38.3	1225	0.02
MIDD014	51.00	53.00	2.00	AA-06772	0.006	0.04	0.0097	622	405	0.09
MIDD014	53.00	55.00	2.00	AA-06774	0.006	0.065	0.0094	647	271	0.22
MIDD014	55.00	57.00	2.00	AA-06775	0.02	0.256	0.0186	2500	705	0.7
MIDD014	57.00	59.00	2.00	AA-06776	0.01	0.148	0.0126	1590	869	0.41
MIDD014	59.00	61.00	2.00	AA-06777	0.008	0.126	0.0142	1100	818	0.33
MIDD014	61.00	63.00	2.00	AA-06778	0.008	0.148	0.0147	879	400	0.12
MIDD014	63.00	64.72	1.72	AA-06779	0.015	0.176	0.0127	2410	468	0.39
MIDD014	64.72	66.50	1.78	AA-06780	0.003	0.055	0.0018	1055	476	1.05
SODD004	104.50	105.50	1.00	AA-07572	0.009	0.145	0.0163	812	376	0.08
SODD004	105.50	106.50	1.00	AA-07573	0.16	2.28	0.05	8260	1080	0.9
SODD004	106.50	107.78	1.28	AA-07574	0.04	0.719	0.0258	3540	662	0.41
SODD004	109.20	110.60	1.40	AA-07576	0.005	0.1	0.0061	719	118	0.07
SODD004	112.80	113.80	1.00	AA-07580	0.015	0.306	0.0131	1710	442	0.24
SODD004	113.80	114.90	1.10	AA-07581	0.006	0.048	0.0056	523	239	0.06
SODD004	117.10	118.20	1.10	AA-07584	0.009	0.123	0.0036	606	176	0.08
SODD005	97.00	98.00	1.00	AA-07655	0.006	0.012	0.0119	228	585	0.01
SODD006	73.00	75.00	2.00	AA-07772	0.003	NA	NA	181	569	0.03
SODD006	110.00	112.00	2.00	AA-07792	0.015	NA	NA	441	813	0.07
SODD006	112.00	114.00	2.00	AA-07794	0.003	NA	NA	91.5	747	0.02
SODD006	114.00	116.00	2.00	AA-07795	0.002	NA	NA	99.5	656	0.08
SODD006	130.00	132.00	2.00	AA-07803	0.045	NA	NA	575	885	0.07

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SODD006	132.00	134.00	2.00	AA-07804	0.009	NA	NA	722	681	0.06
SODD006	134.00	136.00	2.00	AA-07805	0.002	NA	NA	122.5	916	0.02
SODD006	136.00	138.00	2.00	AA-07806	0.001	NA	NA	116.5	1060	0.02
SODD006	138.00	140.00	2.00	AA-07807	<0.001	NA	NA	53.2	596	0.01
SODD006	144.00	146.00	2.00	AA-07811	0.001	NA	NA	152.5	609	0.01
SODD006	146.00	148.00	2.00	AA-07812	0.002	NA	NA	240	632	0.02
SODD006	152.00	154.00	2.00	AA-07815	0.004	NA	NA	127	601	0.03
SODD006	154.00	156.00	2.00	AA-07816	0.002	NA	NA	71.2	870	0.01
SODD006	156.00	158.00	2.00	AA-07818	<0.001	NA	NA	7.3	1080	<0.01
SODD006	158.00	160.00	2.00	AA-07819	0.002	NA	NA	77.9	923	0.01
SODD006	166.00	168.00	2.00	AA-07823	0.01	NA	NA	388	1045	0.11
SODD006	168.00	170.00	2.00	AA-07824	0.006	NA	NA	136	738	0.04
SODD006	170.00	172.00	2.00	AA-07825	0.001	NA	NA	24.2	818	0.02
SODD006	172.00	174.00	2.00	AA-07826	0.001	NA	NA	27.7	997	0.02
SODD006	174.00	176.00	2.00	AA-07827	<0.001	NA	NA	12	1015	0.03
SODD006	176.00	178.00	2.00	AA-07828	0.002	NA	NA	63.6	773	0.01
SODD006	178.00	180.00	2.00	AA-07830	<0.001	NA	NA	32.7	803	<0.01
SODD006	180.00	182.00	2.00	AA-07831	0.012	NA	NA	213	764	0.03
SODD006	182.00	184.00	2.00	AA-07832	0.008	NA	NA	293	611	0.03
SODD006	186.00	187.50	1.50	AA-07834	0.005	NA	NA	88	591	0.02
SODD006	187.50	188.65	1.15	AA-07835	0.014	NA	NA	30.4	887	0.03
SODD006	194.00	195.50	1.50	AA-07839	0.017	NA	NA	5.8	613	0.02
SODD006	195.50	196.62	1.12	AA-07840	0.027	NA	NA	21.7	820	0.04
SODD006	196.62	198.00	1.38	AA-07841	0.067	NA	NA	61.4	970	0.16
SODD006	198.00	200.00	2.00	AA-07843	0.035	NA	NA	161	547	0.25
SODD006	202.00	204.00	2.00	AA-07845	0.005	NA	NA	33.2	622	0.02
SODD006	204.00	206.00	2.00	AA-07846	0.004	NA	NA	6.4	662	<0.01
SODD006	206.00	208.00	2.00	AA-07847	0.009	NA	NA	131.5	663	0.07
SODD006	208.00	210.00	2.00	AA-07848	0.009	NA	NA	130.5	871	0.04
SODD006	210.00	212.00	2.00	AA-07849	0.001	NA	NA	65.8	697	0.03
SODD006	223.75	225.75	2.00	AA-07856	0.02	NA	NA	281	793	0.07
SODD006	225.75	227.70	1.95	AA-07857	0.001	NA	NA	66.3	892	0.02
SODD006	237.00	239.00	2.00	AA-07865	<0.001	NA	NA	122.5	640	0.15
SODD006	304.00	306.00	2.00	AA-07902	0.001	NA	NA	52.6	513	0.02
SODD006	331.81	333.00	1.19	AA-07918	0.008	NA	NA	133.5	633	0.03
SODD006	333.00	335.00	2.00	AA-07919	0.009	NA	NA	122.5	1035	0.03
SODD006	337.00	339.00	2.00	AA-07922	0.001	NA	NA	60.9	921	0.03
SODD006	339.00	341.00	2.00	AA-07923	0.009	NA	NA	62.2	702	0.03
SODD006	341.00	343.00	2.00	AA-07924	0.006	NA	NA	92.4	643	0.02
SODD006	343.00	344.43	1.43	AA-07925	0.003	NA	NA	77.9	676	0.03
SODD006	344.43	346.00	1.57	AA-07926	0.124	NA	NA	19.6	6.5	0.08
SODD006	346.00	348.00	2.00	AA-07927	0.22	NA	NA	11.4	4.5	0.12
SODD006	348.00	350.00	2.00	AA-07928	0.113	NA	NA	9.8	4.4	0.13
SODD006	354.00	356.00	2.00	AA-07932	0.106	NA	NA	23	3.4	0.12
SODD006	362.96	364.00	1.04	AA-07938	0.08	NA	NA	12	1265	0.12
SODD006	364.00	365.09	1.09	AA-07939	0.068	NA	NA	7.5	1710	0.08
SODD006	370.28	372.00	1.72	AA-07943	0.033	NA	NA	24.3	958	0.14
SODD006	372.00	374.00	2.00	AA-07944	0.011	NA	NA	20	678	0.14
SODD006	374.00	376.00	2.00	AA-07945	0.009	NA	NA	4.2	1500	0.04

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SODD006	378.00	380.00	2.00	AA-07947	0.023	NA	NA	33.1	659	0.06
SODD006	383.20	385.14	1.94	AA-07950	0.259	NA	NA	92.1	23.2	0.07
SODD006	385.14	387.00	1.86	AA-07951	0.053	NA	NA	45.4	1040	0.11
SODD006	387.00	389.00	2.00	AA-07952	0.326	NA	NA	19.2	5.4	0.05
SODD006	389.00	391.00	2.00	AA-07953	0.087	NA	NA	73.2	998	0.21
SODD006	391.00	393.00	2.00	AA-07954	0.031	NA	NA	31	983	0.12
SODD006	393.00	395.00	2.00	AA-07955	0.135	NA	NA	119.5	1070	0.27
SODD006	395.00	397.00	2.00	AA-07956	0.408	NA	NA	86	997	0.19
SODD006	397.00	398.58	1.58	AA-07957	0.224	NA	NA	61.9	362	0.08
SODD006	398.58	400.00	1.42	AA-07958	0.125	NA	NA	8	1010	0.06
SODD006	402.00	404.00	2.00	AA-07960	0.007	NA	NA	199.5	565	0.15

*NA – Not assayed.

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Competent Persons Statement

The information contained in this report relating to exploration results relates to information compiled or reviewed by Thomas Abraham-James, a non-executive director of Conico Ltd. Mr. Abraham-James has a B.Sc Hons (Geol) and is a Chartered Professional (CPGeo) and Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM). Mr. Abraham-James has sufficient experience of relevance to the styles of mineralisation and the types of deposit under consideration, and to the activities undertaken to qualify as a Competent Person as defined in the 2012 edition of the Joint Ore Reserve Committee (JORC) “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr. Abraham-James consents to the inclusion in this report of the matters based on information in the form and context in which it appears.

Disclaimer

The interpretations and conclusions reached in this report are based on current geological theory and the best evidence available to the authors at the time of writing. It is the nature of all scientific conclusions that they are founded on an assessment of probabilities and, however high these probabilities might be, they make no claim for complete certainty. Any economic decisions that might be taken based on interpretations or conclusions contained in this report will therefore carry an element of risk. This report contains forward-looking statements that involve several risks and uncertainties. These forward-looking statements are expressed in good faith and believed to have a reasonable basis. These statements reflect current expectations, intentions or strategies regarding the future and assumptions based on currently available information. Should one or more of the risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary from the expectations, intentions and strategies described in this report. No obligation is assumed to update forwardlooking statements if these beliefs, opinions, and estimates should change or to reflect other future developments.

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THE FOLLOWING TABLES ARE PROVIDED TO ENSURE COMPLIANCE WITH THE JORC CODE (2012 EDITION) FOR THE REPORTING OF EXPLORATION RESULTS. RYBERG PROJECT

SECTION 1 – SAMPLING TECHNIQUES AND DATA

(Criteria in this section apply to all succeeding sections.)

Criteria	JORC Code explanation	Commentary
Sampling techniques	 Nature and quality of sampling (e.g., 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.  Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.  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 (e.g., ‘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 (e.g., submarine nodules) may warrant disclosure of detailed information.	 Sampling of drill core was conducted using standard industry practices.  Drill-holes were angled to optimally intersect the interpreted contact with the geophysical and/or geological target.
Drilling techniques	 Drill type (e.g., core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g., core diameter, triple or standard tube, depth of diamond tails, face- sampling bit or other type, whether core is oriented and if so, by what method, etc).	 Wireline diamond drilling using a 56.5mm diameter drill bit and standard tube. The core has not been orientated.
Drill sample recovery	 Method of recording and assessing core and chip sample recoveries and results assessed.  Measures taken to maximise sample recovery and ensure representative nature of the samples.  Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	 All drill core has been geotechnically logged with core recovery measured per drill core run. Core recovery averaged 96% during the 2022 drilling with good core recovery within mineralised zones.  The drill crew was notified of the target depth and likelihood of intersecting sulphides, accordingly they eased pressure on the drill bit from that depth onward to minimise the chance of core destruction. All drill core was then placed in trays with lids to ensure that no core was lost during transportation from the drill site to core logging facility. The drill core was then reconstructed into continuous runs by the geologist. Depths were checked against depths indicated on the core blocks.  No observed relationship exists between sample recovery and grade.

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Criteria	JORC Code explanation	Commentary
Logging	 Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.  Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.  The total length and percentage of the relevant intersections logged.	 All drill core has been geologically and geotechnically logged by a qualified geologist to a level of detail that supports early-stage exploration. No Mineral Resource estimation, mining studies or metallurgical studies have been carried out.  Logging of diamond core was qualitative and quantitative (visual estimation of contained sulphides). All core was photographed.  All drill-holes have been logged in full.
Sub-sampling techniques and sample preparation	 If core, whether cut or sawn and whether quarter, half or all core taken.  If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.  For all sample types, the nature, quality and appropriateness of the sample preparation technique.  Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.  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.  Whether sample sizes are appropriate to the grain size of the material being sampled.	 Core was cut with a diamond bladed saw into two halves with one consistent half being taken as a sample.  Sample preparation used method PREP31 by ALS Global.  ALS Global routinely include pulp duplicates within the assay workflow.  Half- and quarter-core duplicates were inserted into each batch of core samples.  Sample mass averaged 2.5 kg per sample. The sample size and preparation method are considered appropriate for the material being prepared
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.  For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.  Nature of quality control procedures adopted (e.g., standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e., lack of bias) and precision have been established.	 Analysis methods at ALS Global included PGM-MS23 and PGM-ICP27 for Au, Pt and Pd; Au_ICP22 and Au_AA25 for Au; fire-assay techniques that would be considered total extraction methods. ME-MS61 was used for other elements which uses a 4-acid digest; four-acid digestion quantitatively dissolves nearly all minerals in the majority of geological materials. However, barite, rare earth oxides, columbite-tantalite, and titanium, tin and tungsten minerals may not be fully digested.  Blanks, duplicates, and certified reference material (CRMs) were inserted into sample batches at rates of 2%, 2% and 4% respectively. Various CRMs were used to control assay of Au, Pd, Cu and Ni. No significant indications of bias, poor precision, or poor accuracy were observed.
Verification of sampling and assaying	 The verification of significant intersections by either independent or alternative company personnel.  The use of twinned holes.  Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.  Discuss any adjustment to assay data.	 Reported significant intersections have been checked by a minimum of two separate company personnel.  No twinning of holes occurred.  Data collection, validation and storage procedures are documented within the Company’s Drilling Procedures manual.  No adjustments were made to assay data.

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Criteria	JORC Code explanation	Commentary
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.  Specification of the grid system used.  Quality and adequacy of topographic control.	 Drill hole collar locations are recorded by supervising geologists using handheld GPS, accurate to +/-3m. This has been considered as sufficiently accurate for the purposes of drillhole accuracy.  The grid system used by the project is UTM zone 25 north using a WGS84 spheroid (EPSG: 23625)  All drill holes except MIDD014 and PYDD001 were down-hole surveyed using a north-seeking gyro instrument reporting dip/azimuth every 5 m along the hole. All down-hole surveys passed QAQC based on mis-close errors of less than 1% when comparing in and out survey runs on a hole. MIDD014 could not be surveyed due to instrument problems. PYDD001 was not surveyed as it was abandoned before target depth.  Dip and azimuth of MIDD014 and PYDD001 were measured on the drill casing using a traditional sighting compass and an inclinometer.
Data spacing and distribution	 Data spacing for reporting of Exploration Results.  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.  Whether sample compositing has been applied.	 Not applicable as the drill holes were targeting specific geophysical and/or geological targets.  No sample compositing has been applied.
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.  If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	 Drilling was designed perpendicular to the strike of the main mineralised structures targeted for this program. All reported intervals are however reported as downhole intervals only.  No drilling orientation and/or sampling bias have been recognised in the data at this time.
Sample security	 The measures taken to ensure sample security.	 The drill core is kept on site which is considered remote and highly secure.  Samples are sent to the laboratory by a third-party commercial courier services in sacks sealed with numbered security ties.  Drill core was sent from site to the Company’s facilities in Portugal by commercial courier services – no signs of tampering were noted upon receipt of the drill core.
Audits or reviews	 The results of any audits or reviews of sampling techniques and data.	 No audits or reviews have been carried out at this time

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SECTION 2 – REPORTING OF EXPLORATION RESULTS

(Criteria in this section apply to all succeeding sections.)

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 operate in the area.	 The Ryberg Project is wholly within Mineral Exploration Licences 2017/06 & 2019/38, located on the east coast of Greenland. They are held 100% by Longland Resources Ltd, a wholly owned subsidiary of Conico Ltd.  The tenements are in good standing.
Exploration done by other parties	 Acknowledgment and appraisal of exploration by other parties.	 Previous work (2017 VTEM survey, 2020 EM and IP surveys, 2021 magnetic and radiometric surveys) was planned and managed by Longland Resources Ltd, a wholly owned subsidiary of Conico Ltd. Historic rock-chip sampling was conducted by Platina Resources Ltd and University of Leicester.
Geology	 Deposit type, geological setting and style of mineralisation.	 Deposit type: no deposits have currently been established in the licence area.  Geological setting: The project area is located within the North Atlantic Igneous Province (NAIP), a Tertiary volcanic centre that covered an area of approximately 1.3 million km2in continental flood basalts (6.6 million km3in volume), making it one of the largest volcanic events in history. Volcanism is associated with the opening of the North Atlantic, and presence of a mantle plume (what is now the Icelandic hotspot). The project area represents an erosional interface where the flood basalts have been removed, revealing the basement geology beneath. The project area is adjacent to a triple junction (failed rift) and consists of Archaean orthogneiss, Tertiary gabbro/flood basalt, and Cretaceous-Tertiary sediments (rift valley basin). Approximately 70% of the geology within the sedimentary basin has been intruded by Tertiary sills that are feeders to the overlying plateau basalts. There are also feeder dykes, and layered mafic intrusions – it is likely that there is also a large ultramafic body present at depth, evidence for this is in the form of ultramafic xenoliths brought to surface by magma conduits.  Style of mineralisation: magmatic sulphide- rich nickel-copper-(PGE) systems related to Tertiary mafic dike-sill complexes (Miki Dyke and Sortekap).  Orogenic gold mineralisation hosted in metamorphic units (Sortekap)

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Criteria	JORC Code explanation	Commentary
Drill hole Information	 A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: o easting and northing of the drill hole collar o elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar o dip and azimuth of the hole o down hole length and interception depth o hole length.  If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	 Drill hole information for the drilling discussed in this report is listed in the Appendices.
Data aggregation methods	 In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g., cutting of high grades) and cut-off grades are usually Material and should be stated.  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.	 Where reported intervals contain multiple samples, the reported interval is calculated using a length-weighted average.  Reported intervals were defined by selecting consecutive individual samples with either >0.1 g/t Au or >0.1 g/t Pd. No internal “waste” was included in any reported interval.  3E was calculated for reported intervals by adding the assay values of Au, Pd and Pt reported in g/t.
Relationship between mineralisation widths and intercept lengths	 These relationships are particularly important in the reporting of Exploration Results.  If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.  If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g., ‘down hole length, true width not known’).	 The geometry of the mineralisation with respect to the drill-hole angle is not known. All reported lengths are in reference to down-hole length, true widths are not known.
Diagrams	 Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported. These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	 Appropriate plans have been included in the body of this report. No significant discovery has been reported and no sections have been provided.

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Criteria	JORC Code explanation	Commentary
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.	 All results material and relevant to the subject of this announcement has been presented.
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.	 Previous exploration results are detailed in:  Conico Ltd press release on the 1st January 2022, entitled_‘Ryberg 2021_ drilling and geophysical results’.  Conico Ltd press release on the 24th September 2021, entitled_‘Massive_ sulphide lenses intersected at Cascata Prospect’.  Conico Ltd press release on the 31st August 2021, entitled_‘Potential_ volcanogenic massive sulphide (VMS) discovery’.  Conico Ltd press release on the 18th August 2021, entitled_‘Drilling intersects_ sulphides and magnetite at Sortekap’.  Conico Ltd press release on the 11th August 2021, entitled_‘Drilling intersects_ further copper sulphides at Ryberg’.  Conico Ltd press release on the 30th July 2021, entitled_‘Ryberg – Further_ mineralisation/significant magnetic anomaly’.  Conico Ltd press release on the 26th July 2021, entitled_‘First Ryberg hole_ hits significant sulphide mineralisation’.  Conico Ltd press release on the 11th December 2020, entitled ‘EM Survey Reveals Highly Prospective Chonolith at Ryberg’.  Conico Ltd press release on the 29th July 2020, entitled ‘Conico to acquire East Greenland projects via acquisition of Longland Resources’.  Holwell et al, Mineralium Deposita, 2012, 47:3-21.  Conico Ltd press release on the 11th December 2020, entitled ‘EM Survey Reveals Highly Prospective Chonolith at Ryberg’.  Conico Ltd press release on the 29th July 2020, entitled ‘Conico to acquire East Greenland projects via acquisition of Longland Resources’.  Holwell et al, Mineralium Deposita, 2012, 47:3-21.
Further work	 The nature and scale of planned further work (e.g., tests for lateral extensions or depth extensions or large-scale step-out drilling).  Diagrams clearly highlighting the areas of possible extensions,	 Future work has been mentioned in the text of this disclosure.

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Criteria	JORC Code explanation	Commentary
	including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.

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