DUKETON MINING LIMITED — Capital/Financing Update 2022

Mar 7, 2022

8[th] March 2022

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ASX Announcement

2022 Exploration Program Underway at Duketon North

HIGHLIGHTS

Rosie Project (100% DKM)

• A camp has been set up in the Rosie area to support a sustained exploration push over the coming months.

• A large ground electro-magnetic (EM) survey has commenced at Duketon North focused on the area 20km north of Rosie and C2. This has two purposes.

  • Confirm a number of historical EM anomalies for drill testing

  • Generate new anomalies in areas of no or ineffective EM coverage

• RC drilling is underway. This will focus on the following.

  • Pre-existing exploration targets,

  • Targets generated from the EM surveying, and

  • Resource extensions and in-fill

• Drilling will continue as targets are generated and results received.

Duketon Mining Limited (ASX: DKM) (“Duketon” or “the Company”) is pleased to advise that a sustained exploration campaign has been initiated in the northern Duketon area with the commencement of ground EM surveys in the area 20km north of the Rosie and C2 deposits. The EM program is designed to confirm a number of pre-existing EM anomalies in preparation for immediate drill testing and to survey all other areas that historically have had either no previous EM surveying, or the surveying has been considered to be ineffective.

An RC drill rig has arrived on site and RC drilling is expected to commence this week. This will focus on testing some pre-existing targets, targets generated from the EM surveying and complete some extensional drilling and in-fill drilling at Rosie and C2.

Drilling will then be continued with the testing of anticipated conductor anomalies generated from the ground surveys and as results are received.

Duketon Mining Limited ACN 159 084 107 Level 2 25 Richardson Street West Perth WA 6005 T: +61 8 6315 1490

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Figure 1: Plan of DKM Tenements showing, Nickel Resources and Prospects.

Duketon Mining Limited ACN 159 084 107 Level 2 25 Richardson Street West Perth WA 6005 T: +61 8 6315 1490

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Figure 2: Rosie Camp Set-Up.

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Figure 3: Rosie Camp Set-Up.

Duketon Mining Limited ACN 159 084 107 Level 2 25 Richardson Street West Perth WA 6005 T: +61 8 6315 1490

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Figure 4 & 5: Surface EM underway.

Duketon Mining Limited ACN 159 084 107 Level 2 25 Richardson Street West Perth WA 6005 T: +61 8 6315 1490

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Authorised for release by: Stuart Fogarty Duketon Mining Limited - Managing Director +61 8 6315 1490

Duketon Mining Limited ACN 159 084 107 Level 2 25 Richardson Street West Perth WA 6005 T: +61 8 6315 1490