DEVELOP GLOBAL LIMITED — Capital/Financing Update 2023

Aug 30, 2023

31 August, 2023

- Woodlawn Zinc Copper Project, NSW

Discovery of extensive high-grade mineralisation sets up Woodlawn for significant resource growth

Multiple new lenses identified; Infill and extensional drilling hits up to 42.9% ZnEq[1] ; Updated mine plan due this quarter and Resource update set for December quarter

Highlights

• Multiple new lenses and significant extensions intersected outside the current Woodlawn Resource of 7.3Mt @ 5.7% Zn, 1.8% Cu, 2.0% Pb, 44.9gpt Ag & 0.6gpt Au[2]

• New lenses intersected up to 180m north of the Resource and in multiple hangingwall and footwall positions of the extremely prospective stratigraphy, including:

• 16.0m @ (10.4% ZnEq[1] ) 0.8% Cu, 7.5% Zn, 1.4% Pb, 14gpt Ag and 0.5gpt Au

• 13.0m @ (8.1% ZnEq[1] ) 1.1% Cu, 4.5% Zn, 1.2% Pb and 11gpt Ag

• 7.1m @ (9.2% ZnEq[1] ) 0.7% Cu, 5.7% Zn, 2.6% Pb and 24gpt Ag

• 4.5m @ (13.3% ZnEq[1] ) 1.4% Cu, 5.3% Zn, 4.8% Pb and 62gpt Ag

• 3.0m @ (18.8% ZnEq[1] ) 1.5% Cu, 9.0% Zn, 6.9% Pb and 86gpt Ag

• 2.3m @ (17.8% ZnEq[1] ) 0.4% Cu, 9.9% Zn, 2.4% Pb, 156gpt Ag and 1.5gpt Au

• 1.0m @ (16.2% ZnEq[1] ) 0.2% Cu, 2.7% Zn, 2.2% Pb, 230gpt Ag and 3.6gpt Au

• Extremely high-grade intersections from infill and extensional drilling of the main production lenses:

• 13.0m @ (32.9% ZnEq[1] ) 1.3% Cu, 9.7% Pb, 16.6% Zn, 182gpt Ag and 2.8gpt Au

• 5.7m @ (42.9% ZnEq[1] ) 1.2% Cu, 14.1% Pb, 23.0% Zn, 272gpt Ag and 2.1gpt Au

• 8.7m @ (21.9% ZnEq[1] ) 1.9% Cu, 3.7% Pb, 8.3% Zn, 157gpt Ag and 2.0gpt

• 16.0m @ (10.4% ZnEq[1] ) 0.8% Cu, 1.4% Pb, 7.5% Zn, 14gpt Ag and 0.5gpt Au

• 12.5m @ (13.0% ZnEq[1] ) 1.1% Cu, 1.1% Pb, 9.0% Zn, 15gpt Ag and 0.9gpt Au

• 6.5m @ (20.5% ZnEq[1] ) 2.3% Cu, 4.0% Pb, 6.8% Zn, 130gpt Ag and 1.5gpt Au

• 11.4m @ (11.0% ZnEq[1] ) 1.0% Cu, 1.6% Pb, 7.8% Zn, 15gpt Ag and 0.2gpt Au

• 2.6m @ (30.5% ZnEq[1] ) 3.2% Cu, 4.2% Pb, 11.6% Zn, 191gpt Ag and 2.7gpt Au

• 2.1m @ (30.2% ZnEq[1] ) 0.4% Cu, 9.8% Pb, 11.9% Zn, 253gpt Ag and 3.8gpt Au

• 0.9m @ (37.3% ZnEq[1] ) 5.2% Cu, 4.6% Pb, 8.0% Zn, 285gpt Ag and 3.5gpt Au

• ~70% of assays received from the recently-completed 34,000m diamond drilling program; Importantly, none of the results from this program will be included in the updated mine plan due later this quarter; Follow-up drilling program already underway

• Updated Mineral Resource Estimate is set for December Quarter, 2023

• A further Resource and Reserve update is scheduled for the March quarter 2024 which will feed into the final mine plan used for the Final Investment Decision on the restart of production

• Substantial underground ore development in the first production lens has yielded significantly higher grades and thicker mineralisation than modelled; Systematic grab sampling averaged a grade of 18.4% ZnEq[1] verses an expected 14.3% ZnEq[1 ]

Develop (ASX: DVP) is pleased to announce that the latest drilling has intersected numerous zones of high-grade copper and zinc mineralisation outside the Resource at its Woodlawn copper-zinc-silver project in NSW.

Develop Managing Director Bill Beament said: “Woodlawn is perfectly positioned to capitalise on the coming exponential growth in demand for energy transition metals, particularly from Australia, a tier-1 mining jurisdiction.

“It already has a substantial Resource and Reserve base, huge scope for further growth and outstanding near-new mine infrastructure, including a processing plant, surface facilities and underground capital.

“These latest results provide more evidence of the project’s quality because they extend the known high-grade mineralisation well beyond the current Resource. This includes several new lenses of mineralisation as well as additional mineralised positions within the Resource.

"They are outstanding results which will feed into our Resource update in the coming quarter. This is consistent with our objective of growing the inventory and mine life at Woodlawn.

“We are also generating exceptional results from the substantial underground ore development undertaken in the first production lens.

“These are every important because they show that the mineralisation is higher grade and wider than outline in the model. For example, grab samples averaged 18.4% ZnEq[1] verses an expected 14.3% ZnEq[1] .

“This augurs extremely well for the start of production”.

WOODLAWN PROJECT

Develop’s Woodlawn Zinc-Copper Mine is in the world-class Lachlan Fold belt in NSW, 250km south-west of Sydney. Historically, the Woodlawn Mine operated from 1978 to 1998 and processed 13.8Mt grading 9.1% Zn, 1.6% Cu, 3.6% Pb, 74g/t Ag and 0.5g/t Au[3] . It was Australia’s second highest grade zinc equivalent mine at the time.

Drill Programme Details

Develop’s maiden 70-hole (34,000m) exploration and resource drilling campaign at Woodlawn was completed in late June 2023 from the purpose-built underground drill drive. The program was designed to convert Inferred Resources to Indicated, extend the mineralised lenses at depth and along strike and drill-test recently identified EM conductors.

Due to the success of the maiden exploration programme, Develop has elected to immediately commence a follow-up programme. The current programme will target extensions to, and infill the high-grade mineralisation intersected within the 2023 drill programme, including at the newly discovered copper rich J Lens where drilling intersected 9.9m @ 7.9% Cu and 4.2% Zn and 8.8m @ 7.6% Cu and 1.6% Zn (see ASX release 05 May 2023). This drilling is ongoing and results will be released as they become available.

A significant review of near-mine exploration targets within the Woodlawn Zinc-Copper Mine, along with regional targets, is also ongoing, with the aim of resuming both near mine and regional exploration activities in 2023.

Exploration Results

Assays results from the ongoing exploration programme have returned significant high-grade copper-zinc-lead-silver massive sulphide intersections across multiple horizons, including the discovery of several new stacked lenses intersected to north of the current resource and within the hangingwall. Significant lateral and plunge extension to B, D, I and J Lens have also been identified, including:

• 13m @ (8.1% ZnEq[1] ) 1.1% Cu, 4.5% Zn, 1.2% Pb and 11gpt Ag from 377.0m (23WNUD0062) o And 2.3m @ (17.8% ZnEq[1] ) 0.4% Cu, 9.9% Zn, 2.4% Pb, 156gpt Ag and 1.5gpt Au (23WNUD0062)

• 16.0m @ (10.4% ZnEq[1] ) 0.8% Cu, 7.5% Zn, 1.4% Pb and 14gpt Ag from 176.0m (23WNUD0049)

• 7.1m @ (9.2% ZnEq[1] ) 0.7% Cu, 5.7% Zn, 2.6% Pb and 24gpt Ag from 354.4m0m (23WNUD0064)

• 4.5m @ (13.3% ZnEq[1] ) 1.4% Cu, 5.3% Zn, 4.8% Pb and 62gpt Ag from 24.5m (23WNUD0015)

• 3.0m @ (18.8% ZnEq[1] ) 1.5% Cu, 9.0% Zn, 6.9% Pb and 86gpt Ag from 25.0m (23WNUD0018)

• 1.0m @ (16.2% ZnEq[1] ) 0.2% Cu, 2.2% Pb, 2.7% Zn, 230gpt Ag and 3.6gpt Au from 221.6m (23WNUD0055)

• The true widths of the intercepts reported are estimated to be approximately 65-90% of the downhole widths.

Exploration drilling targeting extensions to the north of the Woodlawn Resource has intersected a notable series of massive and stinger sulphide lenses located between 80m and 180m to the north of the current resource margin. Drillholes 23WNUD0062 & 23WNUD0064 intersected several zones of mineralisation including:

• 13m @ (8.1% ZnEq[1] ) 1.1% Cu, 1.2% Pb, 4.5% Zn and 11gpt Ag (23WNUD0062)

• And 2.3m @ (17.8% ZnEq[1] ) 0.4% Cu, 9.9% Zn, 2.4% Pb, 156gpt Ag and 1.5gpt Au, and,

• • 7.1m @ (9.2% ZnEq[1] ) 0.7% Cu, 5.7% Zn, 2.6% Pb and 24gpt Ag (23WNUD0064)

The lenses intersected in the exploration drilling to the north of Woodlawn are interpreted to represent significant extensions to the deposit in an area that has not previously been drill-tested, with mineralisation open in all directions. Encouragingly, this mineralisation coincides with a large (untested) IP anomaly identified by previous owner Herron Resources (see ASX release 7 May 2019).

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23WNUD0062 & 064
intersections
WOODLAWN
DEPOSIT
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Figure 1. 2D slices through 3D IP geophysical model showing chargeability responses at Woodlawn and Bucklands anomaly (see Herron Resources (HRR) ASX release 7 May 2019).

A high-grade lens proximal to the already established exploration drill-drive has also been identified with results including 4.5m @ 13.3% ZnEq[1] (23WNUD0015) and 3.0m @ 18.8% ZnEq[1 ] (23WNUD0018). Importantly this mineralisation is adjacent to current mine workings and can be easily incorporated into an updated life-of-mine plan.

Resource Infill

Assays results from resource infill drilling designed to increase resource confidence have also returned additional highgrade copper-zinc-lead-silver massive sulphide intersections across multiple horizons, including:

• 5.7m @ (42.9% ZnEq[1] ) 1.2% Cu, 23.0% Zn, 14.1% Pb, 272gpt Ag and 2.1gpt Au from 306.0m (23WNUDD0055)

• 12.5m @ (13.0% ZnEq[1] ) 1.1% Cu, 9.0% Zn, 1.1% Pb, 15gpt Ag and 0.9gpt Au from 185.0m (23WNUDD0050)

• 16.0m @ (10.4% ZnEq[1] ) 0.8% Cu, 7.5% Zn, 1.4% Pb, 14gpt Ag and 0.5gpt Au from 166.0m (23WNUD0049) o And 11.4m @ (11.0% ZnEq[1] ) 1.0% Cu, 7.8% Zn, 1.6% Pb, 15gpt Ag and 0.2gpt Au from 316.7m

Note. Several of the reported infill intersection are located fully or partially outside of the current resource boundaries.

Following a review of the geological database and coreyard inventory, a number of unsampled resource infill drilholes completed by Herron Resources immediately prior to entering administration was identified. Subsequent sampling of these has returned exceptionally high-grade copper-zinc-lead-silver-gold massive sulphide intersections at both the Kate and G Lenses, including:

• 2.1m @ (30.2% ZnEq[1] ) 0.4% Cu, 11.9% Zn, 9.8% Pb, 253gpt Ag and 3.8gpt Au from 87.9m (WNDD0256)

• 13.0m @ (32.9% ZnEq[1] ) 1.3% Cu, 16.6% Zn, 9.7% Pb, 182gpt Ag and 2.8gpt Au from 107.6m (WNDD0267)

• 2.6m @ (30.5% ZnEq[1] ) 3.2% Cu, 11.6% Zn, 4.2% Pb, 191gpt Ag and 2.7gpt Au from 100.45m (WNDD0269) o And 8.7m @ (21.9% ZnEq[1] ) 1.9% Cu, 8.3% Zn, 3.7% Pb, 157gpt Ag and 2.0gpt Au from 107.8m

• 6.5m @ (20.5% ZnEq[1] ) 2.3% Cu, 6.8% Zn, 4.0% Pb, 130gpt Ag and 1.5gpt Au from 87.45m (WNDD0266)

• 0.9m @ (37.3% ZnEq[1] ) 5.2% Cu, 8.0% Zn, 4.6% Pb, 285gpt Ag and 3.5gpt Au from 118.4 (WNDD0266)

• *The true widths of the intercepts reported are estimated to be approximately 45-90% of the downhole widths.

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Figure 1. Woodlawn 2023 drilling programme drillhole intercepts (north view cross-section).

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Figure 2. Woodlawn 2023 drilling programme drillhole intercepts (northeast view oblique plan-section).

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Figure 3. Woodlawn 2023 drilling programme drillhole intercepts (plan-section).

ROM SAMPLING

Systematic grab sampling results from approximately 9,025t of stockpiled ROM (Run of Mine) mineralised material from the 2490RL, 2460RL and 2440RL production levels established into the high-grade 1.23Mt @ 14.3% ZnEq[1] Kate Lens have returned very high-grade copper-zinc-lead-silver-gold mineralisation at an average grade of 18.4% ZnEq[1 ] verses the expected Kate Resource at 14.3% ZnEq[1] (see table 3 for details). Encouragingly, the developed mineralisation is significantly thicker than modelled across several of the Kate Lens production levels and grades are significantly higher than expected.

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Figure 4. Woodlawn 2023 ROM Sampling plan (plan-section).

This announcement is authorised for release by Bill Beament, Managing Director.

Investor Enquiries

Bill Beament Develop T: +61 8 6389 7400 E: hello@develop.com.au

Media Enquiries

Paul Armstrong Read Corporate P: +61 8 9388 1474 E: info@readcorporate.com.au

About Develop

Develop (ASX: DVP) has a twin-pronged strategy for creating value. The first of these centres on the exploration and production of future-facing metals. As part of this, the Company owns the Sulphur Springs zinc-copper-silver project in WA’s Pilbara region. This project is currently the focus of ongoing exploration to grow the inventory and various development studies. Develop also owns the Woodlawn zinc-copper project in NSW. Woodlawn, which is on care and maintenance, comprises an underground mine and a new processing plant. The second plank of Develop’s strategy centres on the provision of underground mining services. As part of this, Develop has an agreement with Bellevue Gold (ASX: BGL) to provide underground mining services at its Bellevue Gold Project in WA.

Woodlawn Mineral Resources Statement

WOODLAWN (DVP 100%)	WOODLAWN	Classification	Tonnes(kt) Zn % Pb % Cu % Ag g/t **Aug/t **	Tonnes(kt) Zn % Pb % Cu % Ag g/t **Aug/t **	Tonnes(kt) Zn % Pb % Cu % Ag g/t **Aug/t **	Tonnes(kt) Zn % Pb % Cu % Ag g/t **Aug/t **	Tonnes(kt) Zn % Pb % Cu % Ag g/t **Aug/t **	Tonnes(kt) Zn % Pb % Cu % Ag g/t **Aug/t **
		Measured	104	4.3	1.9	2.1	100	1.4
		Indicated	4,776	5	1.8	1.8	42.2	0.7
		Inferred	2,461	6.9	2.5	1.8	47.8	0.3
		Total	7,341 5.7 2 1.8 44.9 0.6

Tonnages are dry metric tonnes. Minor discrepancies may occur due to rounding.

References

1. The zinc equivalent grades for Woodlawn (Zn Eq) are based on copper, lead, zinc, silver and gold prices of US$8330t Copper, US$2160/t Lead, US$2315/t Zinc and US$23.5/oz Silver, and US$1926/oz Gold (price deck based on LME spot as 23/08/2023), with metallurgical metal recoveries of 75% Cu, 67% Pb, 85% Zn, 77% Ag and 50% Au respectively based on historical recoveries at Woodlawn and supported by metallurgical test work undertaken. The zinc equivalent calculation is as follows: Zn Eq = (Cu grade % * Cu recovery % * (Cu price $/t/Zn price $/t)) + ((Pb grade % * Pb recovery % * (Pb price $/t/Zn price$/t)) + ( Zn grade% * Zn recovery) + (Ag grade g/t /31.103 * Ag recovery % * (Ag price $/oz/Zn price $/t)) + (Au grade g/t /31.103 * Au recovery % * (Au price $/oz/Zn price $/t))

2. The Woodlawn Mineral Resource Estimate has been extracted from the Company’s ASX announcements “Woodlawn Updated Mineral Resource Estimate” issued 2 August 2022 (Original Announcement).

1. The information in this Announcement regarding previous operations at the Woodlawn Project, including information relating to historic production, recoveries, mineral resources and financial information has been sourced using publicly available information and cross-referenced against internal data for confirmation.

4.

• Historic IP geophysical anomaly at Woodlawn and Bucklands a data from Heron Resource ASX announcement dated 7 May 2019.

The Company confirms that it is not aware of any information or data that materially affects the information included in the relevant market announcement and all material assumptions and technical parameters underpinning the estimates in the Original Announcement continue to apply and have not materially changed.

Competent Person Statement

The information in this announcement that relates to Exploration Results at the Woodlawn Project is based on information complied or reviewed by Mr Luke Gibson who is an employee of the Company. Mr Gibson is a member of the Australian Institute of Geoscientists and Mr Gibson has sufficient experience with the style of mineralisation and the type of deposit under consideration. Mr Gibson consents to the inclusion in the report of the results reported here and the form and context in which it appears.

Cautionary Statement

The information contained in this document (“Announcement”) has been prepared by DEVELOP Global Limited (“Company”). This Announcement is being used with summarised information. See DEVELOP’s other and periodic disclosure announcements lodged with the Australian Securities Exchange, which are available at www.asx.com.au or at www.develop.com.au for more information.

The information in this Announcement regarding previous operations at the Woodlawn Project, including information relating to historic production, recoveries, mineral resources and financial information (including historical expenditure) has been sourced using publicly available information and internal data. While the information contained in this Announcement has been prepared in good faith, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers give any representations or warranties (express or implied) as to the accuracy, reliability or completeness of the information in this Announcement, or of any other written or oral information made or to be made available to any interested party or its advisers (all such information being referred to as “Information”) and liability therefore is expressly disclaimed. Accordingly, to the full extent permitted by law, neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers take any responsibility for, or will accept any liability whether direct or indirect, express or implied, contractual, tortious, statutory or otherwise, in respect of, the accuracy or completeness of the Information or for any of the opinions contained in this Announcement or for any errors, omissions or misstatements or for any loss, howsoever arising, from the use of this Announcement.

This Announcement may include certain statements that may be deemed “forward-looking statements”. All statements in this Announcement, other than statements of historical facts, that address future activities and events or developments that the Company expects, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. The Company, its shareholders, directors, officers, agents, employees or advisers, do not represent, warrant or guarantee, expressly or impliedly, that the information in this Announcement is complete or accurate. To the maximum extent permitted by law, the Company disclaims any responsibility to inform any recipient of this Announcement of any matter that subsequently comes to its notice which may affect any of the information contained in this Announcement. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. DEVELOP assumes no obligation to update such information.

Investors are cautioned that any forward-looking statements are not guarantees of future performance and that actual results or developments may differ materially from those projected in forward looking statements. Please undertake your own evaluation of the information in this Announcement and consult your professional advisers if you wish to buy or sell DEVELOP shares.

This Announcement has been prepared in compliance with the JORC Code 2012 Edition. The ‘forward-looking information’ is based on the Company’s expectations, estimates and projections as of the date on which the statements were made. The Company disclaims any intent or obligations to update or revise any forward looking statements whether as a result of new information, estimates or options, future events or results or otherwise, unless required to do so by law.

Table 1. Woodlawn Significant drilling intersections

Drillhole	Interval	% Cu	% Pb	% Zn	gpt Ag	gpt Au	From	Setting	ZnEq
23WNUD0013	1.0	1.4	0.0	0.0	2.9	0.2	152.5	Outside Resource	4.1
and	1.0	2.0	0.0	0.3	12.6	0.3	203.0	Outside Resource	6.5
and	2.0	1.7	0.0	0.0	9.9	0.1	508.0	Outside Resource	5.1
23WNUD0014	1.6	3.4	0.0	0.0	10.7	0.1	217.2	Outside Resource	9.6
and	1.0	0.2	0.0	3.2	3.4	0.1	501.6	Outside Resource	3.6
23WNUD0015	4.4	0.6	1.7	3.2	23.3	0.0	10.7	Outside Resource-NEW DISCOVERY	6.1
and	4.5	1.4	4.8	5.3	62.2	0.1	24.5	Outside Resource-NEW DISCOVERY	13.3
and	4.0	0.3	0.1	1.8	2.5	0.0	84.0	Outside Resource-NEW DISCOVERY	2.7
23WNUD0016	8.1	0.6	3.0	4.0	27.1	0.0	21.6	Outside Resource-NEW DISCOVERY	7.9
and	2.0	1.5	0.1	1.2	11.4	0.2	347.0	Outside Resource-NEW DISCOVERY	5.6
and	6.6	1.1	0.2	0.2	15.6	0.1	354.0	Outside Resource-NEW DISCOVERY	3.9
and	3.0	1.2	0.0	0.0	10.6	0.1	365.0	Outside Resource-NEW DISCOVERY	3.8
and	3.3	0.5	0.2	0.7	13.3	0.1	420.0	Outside Resource	2.7
and	2.2	1.3	0.0	0.4	11.7	0.1	476.3	Outside Resource	4.5
23WNUD0018	17.0	0.5	1.7	2.5	23.0	0.0	11.0	Outside Resource-NEW DISCOVERY	5.4
inc	3.0	1.5	6.9	9.0	86.4	0.1	25.0	Outside Resource-NEW DISCOVERY	18.8
and	6.0	1.3	0.1	1.3	12.9	0.1	180.0	Outside Resource-NEW DISCOVERY	5.2
and	2.7	0.8	0.0	0.1	5.2	0.0	593.5	Outside Resource	2.3
23WNUD0019	5.0	0.5	1.2	2.6	15.7	0.0	9.0	Outside Resource-NEW DISCOVERY	4.7
and	10.4	0.9	3.0	4.4	35.7	0.0	17.0	Outside Resource-NEW DISCOVERY	9.1
and	1.0	1.0	0.0	0.0	4.7	0.7	343.0	Outside Resource-NEW DISCOVERY	3.9
and	1.0	0.1	0.0	3.1	2.3	0.0	458.0	Outside Resource	3.1
23WNUD0020	0.7	0.1	0.7	1.1	6.8	0.1	31.35	Sterilisation Drillhole-Outside Resource	1.8
and	1.0	0.4	0.1	2.3	4.7	0.1	63	Sterilisation Drillhole-Outside Resource	3.2
23WNUD0021	1.2	2.4	0.0	0.0	7.2	0.1	75.2	Sterilisation Drillhole-Outside Resource	6.9
and	0.7	2.6	0.1	0.0	16.8	0.3	79.9	Sterilisation Drillhole-Outside Resource	7.9
23WNUD0022	0.7	0.1	0.3	2.8	2.3	0.0	48.0	Sterilisation Drillhole-Outside Resource	2.8
23WNUD0025	3.0	0.2	0.0	1.4	1.2	0.0	110.0	Sterilisation Drillhole-Outside Resource	1.9
23WNUD0026	2.1	2.9	0.0	0.1	6.5	0.2	67.0	Sterilisation Drillhole-Outside Resource	8.5
and	11.0	0.1	0.3	1.3	4.8	0.0	116.0	Sterilisation Drillhole-Outside Resource	1.8
and	5.0	0.1	0.6	2.2	5.1	0.0	132.0	Sterilisation Drillhole-Outside Resource	2.7
23WNUD0027	NSI	-	-	-	-	-	N/A	Sterilisation Drillhole-Outside Resource	NSI
23WNUD0030	NSI	-	-	-	-	-	N/A	Sterilisation Drillhole-Outside Resource	NSI
23WNUD0031	5.0	1.5	0.8	7.6	14.8	0.6	144.0	Sterilisation Drillhole-Outside Resource	12.3
and	0.4	0.6	0.3	1.0	8.6	0.0	247.8	Sterilisation Drillhole-Outside Resource	2.8
23WNUD0033	NSI	-	-	-	-	-	N/A	Sterilisation Drillhole-Outside Resource	NSI
23WNUD0034	0.6	0.1	0.5	2.4	6.1	0.0	59.1	Sterilisation Drillhole-Outside Resource	2.9
23WNUD0035	1.1	0.4	0.6	1.5	13.2	0.1	68.0	Sterilisation Drillhole-Outside Resource	3.2
and	10.0	0.0	0.0	0.9	0.9	0.0	85.0	Sterilisation Drillhole-Outside Resource	0.9
23WNUD0037	0.5	2.4	0.2	0.2	9.4	0.2	146.6	Outside Resource	7.3
and	0.4	3.0	0.0	0.2	21.4	0.5	251.6	Outside Resource	9.5

and 2.0 1.3 0.1 0.5 9.4 0.2 256.0 Outside Resource 4.5 23WNUD0038 0.4 5.1 0.1 0.1 13.2 0.1 131.6 Outside Resource 14.4 and 7.0 1.6 0.0 0.1 4.1 0.1 254.0 Outside Resource 4.7 and 2.0 0.1 0.0 0.6 0.0 0.0 275.0 Outside Resource 0.8 and 1.0 2.3 0.0 1.3 7.7 0.1 280.0 Outside Resource 7.6 23WNUD0039 4.5 0.1 0.1 1.2 1.4 0.0 409.0 Outside Resource-NEW DISCOVERY 1.4 and 0.3 1.0 2.0 3.2 34.7 0.2 456.4 Outside Resource 8.1 and 5.2 1.6 0.0 0.0 4.1 0.1 515.8 Resource Infill 4.7 and 5.0 2.3 0.0 0.0 5.4 0.1 526.0 Outside Resource 6.5 23WNUD0040 1.0 0.1 0.6 1.3 3.8 0.0 111.0 Outside Resource 1.9 23WNUD0041 1.0 1.6 0.0 0.0 2.1 0.1 164.0 Outside Resource 4.4 23WNUD0043 0.45 4.5 0.4 0.3 25.9 0.5 156.8 Outside Resource 14.3 and 2 0.1 0.4 2.3 1.5 0.0 285 Outside Resource 2.5 and 2.25 1.0 0.0 0.8 5.4 0.1 290 Outside Resource 3.8 and 2.15 0.2 1.2 2.7 5.8 0.1 322.85 Outside Resource 3.8 and 2.1 2.1 0.0 0.0 6.3 0.3 512.9 Outside Resource 6.2 and 1.35 2.3 0.0 0.1 11.3 0.0 545.65 Outside Resource 6.8 23WNUD0045 3.9 0.4 3.6 12.6 13.0 0.3 168.1 Resource Infill 14.9 and 0.8 2.7 0.0 0.1 6.4 0.2 186.4 Resource Infill 7.7 and 8.9 3.0 0.1 1.9 8.5 0.5 190.0 Resource Infill + Extension 10.7 inc 3.5 4.8 0.1 2.0 11.8 0.8 191.5 Resource Infill 16.1 23WNUD0046 9.5 0.9 0.6 2.8 4.7 0.3 170.1 Resource Infill 5.7 and 4.3 0.3 3.9 9.5 20.3 0.8 195.7 Resource Infill 12.9 and 3.0 0.1 0.6 1.7 5.2 0.0 330.0 Outside Resource 2.3 23WNUD0049 6.7 1.0 0.0 1.1 6.6 0.4 166.0 Resource Infill 4.5 and 16.0 0.8 1.4 7.5 13.9 0.5 176.0 Outside Resource 10.4 and 3.5 2.2 0.1 0.5 6.2 0.2 244.0 Outside Resource 6.7 and 3.6 1.6 0.4 1.3 27.4 0.8 260.5 Resource Infill 7.6 and 1.0 0.0 1.3 1.8 9.9 0.2 310.0 Outside Resource 3.0 and 11.4 1.0 1.6 7.8 14.8 0.2 316.7 Resource Infill 11.0 Inc 3.9 0.8 1.3 13.4 9.5 0.2 316.7 Resource Infill 14.9 23WNUD0050 11.4 1.8 1.5 3.0 21.7 0.7 170.6 Resource Infill + Extension 9.8 and 12.15 1.1 1.1 9.0 15.2 0.9 185 Resource Infill + Extension 13.0 and 7.4 0.7 0.2 1.1 3.7 0.2 266.7 Resource Infill + Extension 3.3 23WNUD0055 1.0 0.2 2.2 2.7 230.0 3.6 221.6 Outside Resource 16.2 and 0.7 0.7 4.3 5.9 149.0 2.0 227.0 Outside Resource 17.0 and 5.7 1.2 14.1 23.0 272.4 2.1 306.0 Outside Resource 42.9 and 1.0 1.3 0.0 0.3 8.5 0.2 367.5 Outside Resource-NEW DISCOVERY 4.3 and 0.3 1.6 0.0 2.3 7.6 0.3 385.7 Outside Resource-NEW DISCOVERY 7.0 and 6.0 0.8 0.0 0.8 8.6 0.0 419.0 Outside Resource-NEW DISCOVERY 3.2 and 2.0 1.5 1.2 2.2 40.0 0.1 465.0 Outside Resource 7.9 23WNUD0062 2.3 0.4 2.4 9.9 156.2 1.5 153.3 Outside Resource-NEW DISCOVERY 17.8 and 1.2 1.5 0.0 0.3 9.6 0.1 352.9 Outside Resource - NEW DISCOVERY 4.6

and	13.0	1.1	1.2	4.5	11.1	0.2	377.0	Outside Resource-NEW DISCOVERY	8.1
inc	3.0	1.1	2.8	11.4	20.1	0.1	383.0	Outside Resource-NEW DISCOVERY	15.3
and	1.0	2.1	0.1	0.1	9.0	0.0	421.0	Outside Resource-NEW DISCOVERY	6.0
23WNUD0064	0.3	3.8	6.8	9.6	116.0	0.4	347.8	Outside Resource-NEW DISCOVERY	26.9
and	7.1	0.7	2.6	5.7	23.8	0.2	354.4	Outside Resource-NEW DISCOVERY	9.2
and	1.0	1.5	0.2	0.7	22.9	0.1	382	Outside Resource-NEW DISCOVERY	5.4
and	0.6	0.6	1.3	3.6	27.1	0.1	393.4	Outside Resource-NEW DISCOVERY	6.5
WNDD0256	8.7	0.2	0.8	2.1	11.0	0.2	13.3	Outside Resource	3.6
and	2.1	0.4	9.8	11.9	253.1	3.8	87.9	Resource Infill + Extension	30.2
WNDD0267	0.7	4.7	0.1	2.0	42.8	1.2	12.2	Outside Resource	17.4
and	10.45	0.6	0.7	2.5	21.2	0.3	17.5	Outside Resource	5.3
and	13	1.3	9.7	16.6	181.8	2.8	107.6	Resource Infill + Extension	32.9
and	0.35	1.2	1.0	2.6	33.1	2.1	130.85	Resource Infill	10.1
WNDD0269	2.55	3.2	4.2	11.6	191.3	2.7	100.45	Resource Infill + Extension	30.5
and	8.65	1.9	3.7	8.3	157.0	2.0	107.8	Resource Infill + Extension	21.9
WNDD0266	3	1.4	0.0	0.1	8.6	0.3	10	Outside Resource	4.6
and	8	0.1	0.3	0.8	3.8	0.1	31	Outside Resource	1.4
and	6.45	2.3	4.0	6.8	130.0	1.5	87.45	Resource Infill + Extension	20.5
WNDD0258	2.2	1.9	0.1	0.6	13.3	0.6	0	Outside Resource	7.0
and	16	2.5	0.4	2.4	27.6	0.5	15.9	Outside Resource	10.7
and	10.6	0.6	0.7	1.4	30.2	0.4	43.1	Outside Resource	4.6
and	0.9	5.2	4.6	8.0	285.0	3.5	118.4	Resource Infill	37.3

1. Reported intercepts are determined using averages of length weighted contiguous mineralisation downhole. The lower cut-offs for are 1.0% for copper, lead and/or zinc. Significant intercepts may include samples below the cut-off values if the interval is continuous throughout a geological unit. Totals may not balance due to rounding.

Table 2. Woodlawn drillhole data

Hole ID	East	North	RL	Depth	Dip	Azi	Status
22WNUD0001	9041.97	19404.95	2480.17	661.6	-49	98	Assays Received
22WNUD0002	9041.49	19403.96	2480	659.8	-55	91	Assays Received
22WNUD0003	9041.25	19403.83	2480.25	639.2	-57	105	Assays Received
22WNUD0004	9041.2	19403.72	2480.31	699	-64	116	Assays Received
22WNUD0005	9041.07	19404.06	2479.86	734	-69	97	Assays Received
22WNUD0006	9041.7	19405.51	2479.95	694.8	-61	86	Assays Received
23WNUD0001	9041.58	19405.36	2479.95	771	-76	108	Assays Received
23WNUD0002	9041.86	19405.11	2479.96	978.4	-59	119	Assays Received
23WNUD0003	9041.32	19404.74	2479.89	796	-72	75	Assays Received
23WNUD0004	8952.03	19471.85	2463.34	499.2	-55	99	Assays Received
23WNUD0005	8950.95	19470.97	2463.17	624.8	-56	74	Assays Received
23WNUD0006	8951	19470.62	2462.99	537.4	-62	97	Assays Received

23WNUD0007 8951 19470.73 2463 513.3 -62 89 Assays Received 23WNUD0008 8950.92 19470.88 2463.03 514.1 -62 72 Assays Received 23WNUD0009 8950.85 19471.17 2462.99 523.4 -66 72 Assays Received 23WNUD0010 8950.24 19470.88 2463 202.3 -85 73 Assays Received 23WNUD0011 8950.84 19471.17 2462.99 471.4 -64 59 Assays Received 23WNUD0012 8950.16 19471.15 2463.02 533 -73 66 Assays Received 23WNUD0013 8950.17 19471.04 2463 557.6 -78 66 Assays Received 23WNUD0014 8950.09 19471 2463.01 600 -83 68 Assays Received 23WNUD0015 8950.55 19471.4 2463 444 -88 62 Assays Received 23WNUD0016 8950.81 19471.47 2462.99 546 -77 71 Assays Received 23WNUD0017 8950.66 19471.67 2463 579.6 -82 49 Assays Received 23WNUD0018 8950.35 19471.2 2463.03 633 -88 50 Assays Received 23WNUD0019 8950.67 19471.38 2462.99 646.3 -85 73 Assays Received 23WNUD0020 9091.88 19355.21 2488.33 130 -75 75 Assays Received - Sterilisation drillhole 23WNUD0021 9061.33 19373.23 2484.22 140.1 -85 75 Assays Received - Sterilisation drillhole 23WNUD0022 9016.71 19398.44 2476.74 160.5 -75 75 Assays Received - Sterilisation drillhole 23WNUD0023 9094.78 19328.71 2492.61 75.2 -35 273 Not sampled - Sterilisation drillhole 23WNUD0024 9094.78 19328.71 2492.61 75 -35 235 Not sampled - Sterilisation drillhole 23WNUD0025 9200.54 19294.45 2480.36 125 -20 113 Assays Received - Sterilisation drillhole 23WNUD0026 9200.54 19294.45 2480.36 125 -20 71 Assays Received - Sterilisation drillhole 23WNUD0027 9040.36 19413.09 2481.27 199.8 -35 15 Assays Received - Sterilisation drillhole 23WNUD0028 9040.36 19413.09 2481.27 170 -35 27 Not sampled - Sterilisation drillhole 23WNUD0029 9043.06 19406.89 2480 170 -42 71 Not sampled - Sterilisation drillhole 23WNUD0030 9043.06 19406.89 2480 212.1 20 73 Assays Received - Sterilisation drillhole 23WNUD0031 9043.06 19406.89 2480 300 -31 92 Assays Received - Sterilisation drillhole 23WNUD0032 9043.06 19406.89 2480 180 -35 100 Not sampled - Sterilisation drillhole 23WNUD0033 9043.06 19406.89 2480 192.2 -45 98 Assays Received - Sterilisation drillhole 23WNUD0034 9043.06 19406.89 2480 201.4 -33 108 Assays Received - Sterilisation drillhole 23WNUD0035 9043.06 19406.89 2480 189.1 -42 107 Assays Received - Sterilisation drillhole 23WNUD0036 8802.62 19643.9 2431 375.8 -36 107 Not sampled 23WNUD0037 8802.62 19643.9 2431 400 -48 93 Assays Received 23WNUD0038 8802.62 19643.9 2431 386.4 -50 99 Assays Received 23WNUD0039 8802.62 19643.9 2431 572.7 -56 92 Assays Received 23WNUD0040 8802.62 19643.9 2431 344.1 -68 98 Assays Received 23WNUD0041 8802.62 19643.9 2431 298.4 -42 87 Assays Received 23WNUD0042 8802.62 19643.9 2431 480.7 -49 87 Assays Pending 23WNUD0043 8802.62 19643.9 2431 580.2 -60 86 Assays Received 23WNUD0044 8802.62 19643.9 2431 497 -53 121 Assays Pending 23WNUD0045 8755.83 19774.3 2407.36 360 -53 121 Assays Received 23WNUD0046 8755.83 19774.3 2407.36 382.7 -59 123 Assays Received

23WNUD0047	8755.83	19774.3	2407.36	400	-66	123	Assays Pending
23WNUD0048	8755.83	19774.3	2407.36	348	-31	112	Assays Pending
23WNUD0049	8755.83	19774.3	2407.36	360	-52	113	Assays Received
23WNUD0050	8755.83	19774.3	2407.36	400.1	-60	113	Assays Received
23WNUD0051	8755.83	19774.3	2407.36	741	-67	108	Assays Pending
23WNUD0052	8756.12	19774.18	2406.9	480	-78	135	Assays Pending
23WNUD0053	8769.81	19794.44	2406.9	312	-20	110	Assays Pending
23WNUD0054	8769.36	19794.6	2406.91	333	-31	110	Assays Pending
23WNUD0055	8756.12	19774.18	2406.9	520	-37	107	Assays Received
23WNUD0056	8756.12	19774.18	2406.9	502.2	-43	107	Assays Pending
23WNUD0057	8769.68	19794.51	2406.53	555	-49	107	Assays Pending
23WNUD0058	8769.36	19794.6	2406.91	566.2	-54	107	Assays Pending
23WNUD0059	8769.51	19794.57	2406.43	450	-71	103	Assays Pending
23WNUD0060	8769.51	19794.57	2406.43	475	-81	105	Assays Pending
23WNUD0061	8767.08	19796.29	2406.34	155	-84	303	Assays Pending
23WNUD0062	8790.41	19829.56	2407.11	720	-33	105	Assays Received
23WNUD0063	8790.41	19829.56	2407.11	720	-51	107	Assays Pending
23WNUD0064	8790.41	19829.56	2407.11	700	-25	95	Assays Received
23WNUD0065	8790.36	19829.64	2407.03	445	-44	96	Assays Pending
23WNUD0066	8792.41	19829.38	2403.01	480	-61	96	Assays Pending
23WNUD0067	8794	19829.38	2404.5	430	-35	78	Assays Pending
23WNUD0069	8794.65	19828.69	2405.84	500	-19	102	Assays Pending
WNDD0256	9203.89	19336.97	2592.92	104.1	-46	53	Assays Received - Historic HRR drillhole
WNDD0258	9202.13	19337.3	2593	140.2	-43	344	Assays Received - Historic HRR drillhole
WNDD0266	9202.14	19337.31	2592.97	100.8	-39	3	Assays Received - Historic HRR drillhole
**WNDD0267 **	9203.29	19337.05	2592.97	134	-57	246	Assays Received - Historic HRR drillhole

Table 3. Woodlawn ROM sample data

Sample ID	Ag	Cu	Pb	Zn	Au	S.G.	Material Source
WD122103	139.0	1.7	9.9	17.9	1.9	4.5	2490RL - Kate Access
WD122104	137.0	4.0	8.7	19.1	1.8	4.4	2490RL - Kate Access
WD122105	111.0	2.6	6.9	22.0	1.4	4.1	2490RL - Kate Access
WD122106	149.0	1.2	15.3	30.3	1.0	4.3	2490RL - Kate Access
WD122107	146.0	0.8	13.9	30.3	1.2	4.5	2490RL - Kate Access
WD122108	128.0	0.9	14.0	25.0	1.5	4.6	2490RL - Kate Access
WD122109	114.0	2.4	10.6	23.4	1.4	4.4	2490RL - Kate Access
WD122110	113.0	1.5	12.7	23.3	1.2	4.5	2490RL - Kate Access
WD122126	177.0	0.4	9.4	12.3	14.1	3.3	2490RL - Kate Access
WD122127	24.7	0.1	1.3	1.7	0.2	2.8	2490RL - Kate Access

WD122128 274.0 0.5 8.1 14.9 3.1 3.9 2490RL - Kate Access WUP00005 87.8 0.5 6.1 9.4 1.5 3.3 2490RL - Kate Access WUP00009 127.0 1.4 4.3 14.3 1.1 3.8 2490RL - Kate Access WUP00010 93.3 1.1 4.0 12.6 1.2 3.7 2490RL - Kate Access WUP00013 146.0 2.1 4.3 15.8 1.6 4.1 2490RL - Kate Access WUP00015 90.1 1.2 3.4 12.6 1.3 3.6 2490RL - Kate Access WUP00016 50.1 0.5 1.2 4.6 0.9 4.1 2490RL - Kate Access WUP00017 24.0 0.6 0.2 0.6 0.7 3.2 2490RL - Kate Access WUP00018 42.1 0.5 0.7 3.0 0.8 4.1 2490RL - Kate Access WUP00019 33.4 0.3 1.4 4.2 0.4 2.8 2490RL - Kate Access WUP00020 121.0 0.8 3.0 10.0 5.5 3.2 2490RL - Kate Access WUP00021 59.3 0.9 2.8 8.7 0.7 3.4 2490RL - Kate Access WUP00022 48.9 0.4 3.1 5.8 0.8 2.8 2490RL - Kate Access WUP00023 1.7 0.1 0.1 0.3 0.1 2.6 2490RL - Kate Access WUP00024 34.9 0.4 0.4 2.4 0.7 3.5 2490RL - Kate Access WUP00025 109.0 1.0 4.3 6.2 2.8 3.1 2490RL - Kate Access WUP00026 58.1 0.5 1.2 3.8 0.8 4.0 2490RL - Kate Access WUP00027 38.5 0.4 0.7 4.2 0.8 3.6 2490RL - Kate Access WUP00028 40.0 0.6 0.6 1.1 1.0 3.8 2490RL - Kate Access WUP00029 40.1 0.3 0.8 2.5 0.7 3.8 2490RL - Kate Access WUP00030 42.1 0.4 0.8 3.4 0.8 3.9 2490RL - Kate Access WUP00031 27.8 0.4 0.3 1.0 0.7 3.6 2490RL - Kate Access WUP00033 163.0 1.8 9.4 15.4 3.8 3.7 2440RL - Kate Access WUP00041 148.0 0.2 6.0 9.5 1.3 3.1 2440RL - Kate Access WUP00042 155.0 0.9 5.5 9.9 1.7 3.2 2440RL - Kate Access WUP00044 2.9 0.3 0.0 0.2 0.1 2.6 2440RL - Kate Access WUP00045 184.0 1.7 10.2 13.7 2.0 3.3 2440RL - Kate Access WUP00046 152.0 0.9 8.4 14.2 1.2 3.0 2440RL - Kate Access WUP00047 125.0 0.8 10.0 19.4 1.6 3.6 2440RL - Kate Access WUP00048 139.0 0.9 12.4 20.2 2.3 3.7 2440RL - Kate Access WUP00049 59.0 0.5 4.5 9.5 1.0 3.2 2440RL - Kate Access WUP00050 202.0 0.6 9.8 17.2 2.3 3.4 2440RL - Kate Access WUP00051 120.0 1.3 4.2 9.6 1.2 3.2 2440RL - Kate Access WUP00052 84.9 0.5 3.6 5.1 0.6 3.0 2440RL - Kate Access WUP00053 1.6 0.5 0.0 0.1 0.1 2.7 2460RL - Kate Access WUP00054 2.8 0.1 0.0 0.1 0.1 2.7 2460RL - Kate Access WUP00055 2.0 0.2 0.0 0.3 0.1 2.8 2460RL - Kate Access WUP00056 7.1 1.2 0.0 0.2 0.2 2.8 2460RL - Kate Access WUP00057 4.2 0.2 0.0 0.2 0.1 2.7 2460RL - Kate Access WUP00058 28.7 0.1 0.9 0.8 0.3 2.8 2460RL - Kate Access WUP00059 194.0 0.2 6.5 9.6 1.9 3.2 2460RL - Kate Access WUP00060 112.0 0.1 3.7 5.9 0.9 3.0 2460RL - Kate Access WUP00061 43.3 0.1 1.5 1.7 0.7 2.8 2460RL - Kate Access

WUP00062 24.0 0.0 0.9 1.5 0.2 2.7 2460RL - Kate Access WUP00063 145.0 1.0 8.2 12.1 1.5 3.5 2460RL - Kate Access WUP00064 204.0 1.1 10.2 14.3 3.9 3.7 2460RL - Kate Access WUP00065 165.0 1.0 10.9 15.0 1.4 3.9 2460RL - Kate Access WUP00066 144.0 2.0 10.2 21.9 1.6 4.1 2460RL - Kate Access WUP00067 207.0 1.0 12.2 19.0 2.7 3.9 2460RL - Kate Access WUP00068 145.0 1.1 7.8 11.8 1.5 3.5 2460RL - Kate Access WUP00069 26.1 0.1 0.7 0.7 0.2 2.8 2460RL - Kate Access WUP00070 36.5 0.2 1.0 0.9 0.4 2.9 2460RL - Kate Access WUP00071 87.8 1.8 5.7 12.2 1.8 3.5 2460RL - Kate Access WUP00072 10.2 0.8 0.2 1.8 0.6 2.8 2460RL - Kate Access WUP00073 8.2 0.3 0.2 1.4 0.2 2.7 2460RL - Kate Access WUP00074 51.1 2.0 2.8 6.4 5.5 3.1 2460RL - Kate Access WUP00075 122.0 2.5 6.4 14.2 1.3 3.6 2460RL - Kate Access WUP00076 46.6 1.0 2.1 3.2 0.4 2.9 2460RL - Kate Access WUP00077 98.3 2.2 7.0 15.4 1.0 3.7 2460RL - Kate Access WUP00078 136.0 1.6 9.7 17.5 1.5 3.9 2460RL - Kate Access WUP00079 70.5 1.2 2.9 6.3 0.7 3.0 2460RL - Kate Access WUP00080 205.0 1.5 12.2 21.0 2.3 4.4 2460RL - Kate Access WUP00081 86.8 1.6 4.2 4.7 0.8 3.1 2460RL - Kate Access WUP00082 77.4 1.9 5.7 10.5 1.0 3.3 2460RL - Kate Access WUP00083 4.6 0.1 0.1 0.4 0.2 2.8 2460RL - Kate Access WUP00084 137.0 1.4 9.5 19.2 1.5 4.1 2460RL - Kate Access WUP00085 110.0 1.3 6.8 13.3 1.8 4.0 2460RL - Kate Access WUP00086 134.0 1.3 7.3 17.5 3.3 3.8 2460RL - Kate Access WUP00087 161.0 1.0 7.3 12.5 2.3 4.2 2460RL - Kate Access WUP00089 77.3 0.9 3.9 6.2 1.2 3.2 2460RL - Kate Access WUP00090 97.8 0.7 5.4 8.9 1.0 3.3 2460RL - Kate Access WUP00091 151.0 0.7 4.8 9.9 3.4 3.6 2460RL - Kate Access WUP00092 80.0 0.9 4.7 8.8 1.4 3.2 2460RL - Kate Access WUP00093 162.0 1.3 8.3 17.5 2.0 4.0 2460RL - Kate Access WUP00094 17.2 0.5 0.7 1.6 0.4 2.7 2460RL - Kate Access WUP00095 16.8 1.7 0.6 2.3 1.2 2.9 2460RL - Kate Access WUP00096 28.9 0.8 0.8 2.6 0.7 2.9 2460RL - Kate Access WUP00097 34.1 1.4 1.1 6.1 1.5 3.1 2460RL - Kate Access WUP00098 64.0 1.7 1.8 5.8 1.7 3.0 2460RL - Kate Access WUP00102 12.6 1.0 0.2 3.1 0.9 3.0 2460RL - Kate Access WUP00103 9.5 1.7 0.1 1.0 1.6 2.9 2460RL - Kate Access WUP00104 90.8 0.6 4.3 7.6 1.2 3.3 2460RL - Kate Access

Section 1: Sampling Techniques and Data

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.	• Diamond Core drilling were used to obtain samples for geological logging and assaying. • Diamond core was cut and sampled at nominal 1m intervals, or intervals determined by geological contacts. • Systematic grab sampling was completed on mineralised material from multiple ROM fingers sourced from Kate Lens capitol development from the 2490, 2460, 2440 levels. Waste development headings were not sampled. • ROM grab samples were elected in order to obtain greater understanding of the style and tenor of mineralisation prior to recommencing full scale mining at Woodlawn. • The company used industry standard practices to measure and sample the drill core and ROM samples. • 0.3m to 1.1m half-core samples, and ROM grab samples weighing nominally between 1.0 - 4.0kgs were submitted to the laboratory for multi- element analysis.
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.). _	• NQ2(oriented coring) was used for diamond drilling.
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.	• Sample condition, including estimated recovery and moisture content were recorded for each sample by a geologist or technician. • Core recoveries are recorded by the drillers in the field at the time of drilling and checked by a geologist or technician. • When poor sample recovery was encountered during drilling, the geologist and driller have endeavoured to rectify the problem to ensure maximum sample recovery. • Insufficient data is available at present to determine if a relationship exists between recovery and grade.
Logging	• Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. • 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 diamond core were geologically logged for the total length of the hole using a long hand logging method. Logging routinely recorded weathering, lithology, mineralogy, mineralisation, structure, alteration and veining. Logs are coded using the company geological coding legend and entered into the company database. • The following quantitative descriptions were used when logging, amongst others: oTrace less than 1% sulphides. oStringer 1-20% sulphides. oDisseminated 20-60% sulphides. oMassive sulphides greater 60%. • Diamond core arephotographed wet and dry.
Sub-sampling techniques and sample preparation	• If core, whether cut or sawn and whether quarter, half or all core taken.	• Diamond core are cut with an automated core-saw with quarter core samples submitted for analysis.

Criteria	JORC Code explanation	Commentary
	• 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.	• The majority of samples were dry, with good to excellent recoveries. • The sample size of 1.0-4.0kg is considered appropriate and representative for the grain size and style of mineralisation • ROM samples were selected at random across each ‘finger’ of mineralisation. Samples sizes varied between approximately 2.5-4.0kg.
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.	• Samples from the current drilling program were assayed by Australian Laboratory Services Pty. Ltd Orange/Brisbane (Woodlawn) Diamond Core samples were prepared and analysed by the following methods: • Samples weighed, crushed and pulverised with the coarse residue retained in vacuum seal bags (LOG-22, WEI-21, PREP-31Y). • 48 elements are analysed by method ME-MS61 utilising 4 acid digest, ICP- MS and ICP-AES; Over-limit/Ore-Grade samples are analysed by method (ME-OG62). Au are analysed by fire assay method Au AA23. • The company included certified reference material and blanks within the at a minimum frequency on 1:20. Field Duplicated were selected in zones of significant mineralisation at a frequency on 1:20. • In addition to Develop’s QA/QC methods (duplicates, standards and blanks), thelaboratoryhas additionalchecks.
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.	• The significant intersections reported have been prepared by geologists with relevant VMS experience. • No twinned holes have been drilled. • Geological descriptions are recorded in long hand prior to being summarised for digital data capture. • The company uses standard templates created in Excel to collate sample intervals, drill collar, downhole survey information which are loaded into a Geologicaldatabase.
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.	• Underground drill hole collars are set-out and surveyed by a qualified Mine Surveyor using a Total Station System. • Down-hole surveys are conducted by the drill contractors using a north- seeking Reflex gyroscopic tool with readings every 10-30m as the hole is drilled, and a continuous survey at the end of hole. • Grid systems used are theWoodlawn LocalGrid (WMG).
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.	• Data/drill hole spacing are variable and appropriate to the geology and historical drilling spacing.
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	• Drill holes at Woodlawn are designed to test mineralisation and potential extension as near to perpendicular as possible (subject to collar access with the exploration drill-drive); holes are drilled at an angle between –49⁰ to -85⁰ to an azimuth of between 058-119⁰. • Drillhole designs are considered appropriate for the geometry of the host

Criteria	JORC Code explanation	Commentary
	introduced a sampling bias, this should be assessed and reported if material.	sequence.
Sample security	• The measures taken to ensure sample security.	• The chain of custody is managed by the on-site geological team. • Pre-numbered (calico) sample bags are stored on site within pre- numbered polyweave sacks prior to being loaded into a Bulka Bag for dispatch to the Laboratory via Toll Ipec. • Detailed records are kept of all samples that are dispatched, including details ofchainofcustody.
Audits or reviews	• The results of any audits or reviews of sampling techniques and data.	• No reviews have been undertaken.

Section 2: Reporting of Exploration Results

Criteria listed in the preceding section also apply to this section.

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.	• Tarago Operations Pty Ltd (Tarago Operations), a wholly owned subsidiary of Develop Global Ltd, has held Special (Crown & Private Lands) Lease No. 20 [S(C&PL)L20] since March 2014. The lease was renewed on 21 January 2015 for a further 15 years and expires on 16 November 2029. • In November 2000, Collex Pty Ltd obtained development consent to operate a waste bioreactor on the old Woodlawn mine site using the open cut void. The waste facility was within S(C&PL)L20 and is now operated by Veolia Energy Services Australia Pty Ltd.
Exploration done by other parties	• Acknowledgment and appraisal of exploration by other parties.	• Previous exploration has been undertaken by a number of parties going back over 45 years. Modern exploration has been undertaken by TriAusMin and Herron Resources. • Several drillholes reported in this announcement were completed by previous owners Heron Resources. These holes were not previously logged or sampled.
Geology	• Deposit type, geological setting and style of mineralisation.	• The Woodlawn Deposits and associated targets are related to Volcanogenic Massive Sulphide systems.
Drill hole Information	• A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: • easting and northing of the drill hole collar • elevation or 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.	• Details of the drill holes are provided in Tables 1 & 2 within the body of this report.

Criteria	JORC Code explanation	Commentary
	• If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.
Data 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.	• Results reported are determined by ALS Laboratories using method ME-OG 62, ME-MS61 (over limit samples) and fire assay AyAA-23. • All results are reported on a length weighting interval, • No top - cuts have been applied. • Any zones of cavity/no sample are assigned a grade of zero. • The zinc equivalent grades for Woodlawn (Zn Eq) are based on copper, lead, zinc, silver and gold prices of US$8330/t Copper, US$2160/t Lead, US$2315/t Zinc and US$23.5/oz Silver, and US$1926/oz Gold (price deck based on LME spot as 23/08/2023), with metallurgical metal recoveries of 75% Cu, 67% Pb, 85% Zn, 77% Ag and 50% Au respectively based on historical recoveries at Woodlawn and supported by metallurgical test work undertaken. The zinc equivalent calculation is as follows: Zn Eq = (Cu grade % * Cu recovery % * (Cu price $/t/Zn price $/t)) + ((Pb grade % * Pb recovery % * (Pb price $/t/Zn price$/t)) + ( Zn grade% * Zn recovery) + (Ag grade g/t /31.103 * Ag recovery % * (Ag price $/oz/Zn price $/t)) + (Au grade g/t /31.103 * Au recovery % * (Au price $/oz/Zn price $/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 mineralisation is well known and tested at this deposit via DD drilling (and historical mining at Woodlawn). Across the drillhole dataset angles to mineralisation are considered to represent a drill intercept perpendicular to lens strike orientation. With increasing depth the drillhole intercept angle to lens decreases, however drilling from underground locations has assisted in mitigating this issue for Measured and Indicated Mineral Resources. • Drillholes are designed to intersect the orebodies at a nominal 90 degrees, however the local access, including mine design and topography required all drillholes to be designed taking these limitations into consideration to intersect the mineralisation. • True widths are estimated to be 45-95% of the downhole width unless otherwise indicated.
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.	• Refer to Figures in the body of text within this announcement.
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.	• Tables 1 & 2 present assays status for the current batch of drill holes. • Laboratory assay results are required to determine the widths and grade of the visible mineralisation reported in preliminary geological logging. The Company will update the market when laboratory analytical results become available for pending drillholes.
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	• Given this is a mature stage project with historical mining and regularised resource and grade control drilling underpinning Mineral Resources, no substantive exploration data has been recently collected at the project. • Geotechnical, metallurgical, bulk density, rock characteristic testwork was completed to feasibility study level of detail in 2016 by Heron.

	Criteria		JORC Code explanation		Commentary
			substances.
Further work		•	The nature and scale of planned further work (e.g. tests for	•	Results from the current programme are planned to be used to produce an
			lateral extensions or depth extensions or large-scale step-out		update to the Woodlawn Resource, along with providing geometallurgical
			drilling).		data.
		•	Diagrams clearly highlighting the areas of possible extensions,	•	Future drilling programmes (including DHEM) are also being planned to
			including the main geological interpretations and future drilling		target the depth/plunge extensions to mineralisation intersect in the current
			areas, provided this information is not commercially sensitive		drilling.