DYNAMIC METALS LIMITED — Capital/Financing Update 2023

Aug 28, 2023

29 August 2023

ASX ANNOUNCEMENT

PGE ASSAYS SUPPORT STRONG NICKEL RESULTS AT LAKE PERCY

HIGHLIGHTS

• Additional geochemical analysis conducted on Lake Percy samples[1] return Pt and Pd in fresh rock providing further support for presence of fertile nickel sulphide system

• RC drilling has commenced at D3 and D5 nickel prospects at Widgiemooltha Project[2]

• Dynamic continues to execute its systematic approach to multi-commodity exploration across its highly prospective project portfolio in Western Australia

Dynamic Metals Limited ( ASX: DYM ) (“ Dynamic ” or “ the Company ”), a nickel, lithium and gold explorer, is pleased to announce an update to its nickel exploration activities at the Lake Percy and Widgiemooltha Projects in the Goldfields region of Western Australia.

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Figure 1. RC drill rig at D3 prospect at Widgiemooltha, August 2023

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ASX
DYM
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T 61 8 6558 0637 . E enquiry@dynamicmetals.com.au

Lake Percy Project

The Lake Percy Project is located approximately 120km to the west of Norseman, along the Hyden-Norseman Road (Figure 2). The Company’s tenements are centred around the northern extension of the Lake Johnston greenstone belt, which hosts the Emily Ann and Maggie Hays nickel mines and the more recent Medcalf spodumene discovery by Charger Metals[3] .

In April 2023 the Company drilled a total of 102 holes for 6,372m using a combination of Air Core (AC) and Reverse Circulation (RC) (Annexure B). The purpose of the program was to obtain fresh rock samples for geochemical analysis and utilise the results to improve the geological understanding and refine Dynamic’s nickel sulphide targeting across the ~10km strike extent of the western ultramafic unit.

Multiple significant assay results were previously reported[1] by the Company at the LP1 and LP2 targets including:

• DYR032 16m @ 1.11% Ni from 32m downhole and 645ppm Cu

• DYR029 26m @ 0.62% Ni from 20m downhole and 145ppm Cu

• DYR031 6m @ 0.47% Ni from 40m downhole and 249ppm Cu

• DYA028 46m @ 0.70% Ni from 18m downhole, incl. 10m @1.14% Ni

• DYR038 22m @ 0.78% Ni from 6m downhole, incl. 8m @ 1.15% Ni

• DYA029 10m @ 0.87% Ni from 28m downhole, incl. 4m @ 1.19% Ni

• DYR042 14m @ 0.71% Ni from 34m downhole, incl. 4m @ 1.08% Ni

• DYR028 12m @ 0.68% Ni from 26m downhole, incl. 2m @ 1.01% Ni

In addition to these significant results from the weathering profile, bottom of hole (fresh rock) geochemistry from DYR065 at the LP2 target returned 0.35%Ni, 236ppm Cu and 38% MgO, suggestive of a fertile nickel sulphide system.

LP2 Target PGE Assaying

A key component in the mineralogy of massive sulphide nickel deposits is the presence of Platinum Group Elements (PGE) including platinum (Pt) and palladium (Pd), in addition to high MgO content of the ultramafic. The Company submitted the fresh rock bottom of hole sample from DYR065 for PGE assaying which returned:

• 2m @ 160ppb Pt & 43 ppb Pd in addition to 0.35% Ni, 236 ppm Cu, 38% MgO (Figure 2, Annexure A) The significance of these results in relation to the background Pt and Pd levels at Lake Percy is visually represented by the graph in Figure 3, which clearly demonstrates how anomalous these results are compared to other data points collected in both the regolith and fresh rock profile in high MgO ultramafic samples where the average Pt + Pd concentration is 4 ppb.

In addition, historic geophysical surveys are being reprocessed over this area to guide the next phase of deeper drilling in the search for massive sulphide nickel in this underexplored greenstone belt.

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Figure 2. Lake Percy LP2 target area with max Ni in hole over magnetics with significant Ni assay results highlighted.

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Figure 3. Plot of Ni % versus Pt + Pd (ppb) demonstrating significance of DYR065 anomaly (red) in the context of historic and recent assays at Lake Percy.

Widgiemooltha Project

D3 and D5 Prospects

A rig and crew have commenced an RC campaign at the D3 and D5 prospects[2] at Widgiemooltha, with up to 12 drill holes planned to test the two nickel targets (Figure 4). Drilling is anticipated to be complete within one week.

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Figure 4. Dynamic’s Democrat nickel prospects highlighted against magnetics and DYM tenure at Widgiemooltha

Sunday Soak Prospect

In June the Company completed a 16-hole AC program at the Sunday Soak nickel prospect in Widgiemooltha[4] . The low MgO content of the ultramafic and lack of significant nickel assays means the prospect has been downgraded in terms of its potential to host massive sulphide nickel. Details regarding the program are attached in Annexure C and D.

Released with the authority of Dynamic Metals’ Board of Directors.

For further information on the Company and our projects, please visit: www.dynamicmetals.com.au

CONTACT

Karen Wellman

Managing Director karen@dynamicmetals.com.au +61 8 6558 0637

REFERENCES

Additional details including JORC 2012 reporting tables, where applicable, can be found in the following releases lodged with ASX and referred to in this announcement:

1. Dynamic Metals ASX Announcement 08/06/2023: “Initial assays confirm strong nickel potential at Lake Percy”

2. Dynamic Metals ASX Announcement 07/08/2023: “Priority Nickel Target Drilling to Commence at Widgiemooltha”

3. Charger Metals ASX announcement 22/02/2023: “Charger confirms High Grade Lithium at Medcalf”

4. Dynamic Metals ASX Announcement 16/06/2023: “Three more prospects drill tested at Widgiemooltha”

COMPETENT PERSONS STATEMENT

The information in this report that relates to Exploration Results is based on information compiled by Mrs Karen Wellman. Mrs Wellman is an employee of the Company and a Member of the Australasian Institute of Mining and Metallurgy. Mrs Wellman has sufficient experience relevant to the styles of mineralisation and types of deposits under consideration, and to the activity being undertaken, to qualify as Competent Persons as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves.’ Mrs Wellman consents to the inclusion in this report of the matters based on this information in the form and context in which it appears.

FORWARD LOOKING STATEMENT

This document may contain certain forward-looking statements. Forward-looking statements include but are not limited to statements concerning Dynamic Metals Limited’s (Dynamic’s) current expectations, estimates and projections about the industry in which Dynamic operates, and beliefs and assumptions regarding Dynamic’s future performance. When used in this document, the words such as “anticipate”, “could”, “plan”, “estimate”, “expects”, “seeks”, “intends”, “may”, “potential”, “should”, and similar expressions are forward-looking statements. Although Dynamic believes that its expectations reflected in these forward-looking statements are reasonable, such statements are subject to known and unknown risks, uncertainties and other factors, some of which are beyond the control of Dynamic and no assurance can be given that actual results will be consistent with these forward-looking statements.

ABOUT DYNAMIC METALS

Dynamic Metals (ASX: DYM) is a dedicated exploration company focused on advancing a highly prospective portfolio of future facing critical minerals projects in Australia. The Company completed a successful IPO in January 2023 raising $7 million to fully fund an aggressive exploration program across the portfolio.

Dynamic's flagship project, Widgiemooltha, covers an extensive area of c.880km[2] extending between Norseman and Kambalda. The region is well known for its numerous nickel and gold mines, but more recently has emerged in significance for its lithium mineralisation and prospectivity.

DYNAMIC METALS CAPITAL STRUCTURE

Share Price: $0.27/share Cash 30 June 2023: $4.4M Shares on Issue: 49M Market Cap: $13.2M

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Portfolio of Exposure to Substantial Team has On-ground Attractive forward-facing global exploration extensive activities are valuation and critical minerals decarbonization targets experience and complete and leverage to projects in and battery generated successful track drilling commenced exploration Australia metals thematic across Li, Ni, Cu, record success PGE and Au

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1 ANNEXURE A

Nickel Drilling Table and Significant Intersections – Lake Percy 2m samples

Note: Significant intersections are defined by minimum 2m downhole length greater than 0.35% Ni and 50 ppb Pt

Target	Hole ID	Collar Coordinates	Collar Coordinates	(MGA)	EOH Depth	Dip / Azi	From	To	Interval	Ni (%)	Cu (ppm)	Pt (ppb)	Pd (ppb)
		Northing	Easting	RL
LP2	DYr065	6461733	253098	481	72	0/0	70	72	2	0.35	236	160	43

2 ANNEXURE B

JORC Code 2012 Edition – Table 1 – Lake Percy AC & RC Drilling Section 1 Sampling Techniques and Data

Criteria	JORC Code explanation	Commentary
Sampling	• Nature and quality of sampling (eg cut channels, random chips, or specific	• AC and RC drilling was used to collect samples at 2m intervals.
Techniques	specialised industry standard measurement tools appropriate to the	• A representative sample of approximately 2-4kg was collected from each
	minerals under investigation, such as down hole gamma sondes, or	interval and placed in an individually labelled, consecutively numbered
	handheld XRF instruments, etc). These examples should not be taken as	calico sample bags using industry standard techniques
	limiting the broad meaning of sampling.	• The AC and RC samples obtained are considered representative of the
	• Include reference to measures taken to ensure sample representivity and	material drilled.
	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 (eg ‘reverse circulation drilling was used to obtain 1 m
	samples from which 3 kg was pulverised to produce a 30 g charge for fire
	assay’). In other cases more explanation may be required, such as where
	there is coarse gold that has inherent sampling problems. Unusual
	commodities or mineralisation types(eg submarine nodules) may warrant

.

	Criteria	JORC Code explanation	Commentary
		disclosure of detailed information.
	Drilling	• Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast,	•	Drilling was completed using conventional AC and RC drilling techniques.
	Techniques	auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard
		tube, depth of diamond tails, face-sampling bit or other type, whether core
		_is oriented and if so, by what method, etc). _
	Drill sample	• Method of recording and assessing core and chip sample recoveries and	•	AC and RC sample recovery for each drilled metre was assessed from the
	recovery	results assessed.		resultant sample volume and recorded in logging sheets.
		• 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.
	Logging	• Whether core and chip samples have been geologically and geotechnically	•	Qualitative lithological descriptions (colour, weathering, grain size,
		logged to a level of detail to support appropriate Mineral Resource		lithology, mineralogy, veining textures and other significant features)
		estimation, mining studies and metallurgical studies.		were recorded by the field geologist.
		• Whether logging is qualitative or quantitative in nature. Core (or costean,
		channel, etc) photography.
		• The total length andpercentage of the relevant intersections logged.
	Sub-sampling	• If core, whether cut or sawn and whether quarter, half or all core taken.	•	1m AC and RC samples were made into 2m composites by
	techniques	• If non-core, whether riffled, tube sampled, rotary split, etc and whether		representatively sampling 1m sample piles.
	and sample	sampled wet or dry.	• The sample size is considered appropriate for the grainsize of the material
	preparation	• For all sample types, the nature, quality and appropriateness of the sample		being sampled.
		preparation technique.	• Duplicate samples were taken approximately 1 in 50 samples.
		• 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.
	Quality of	• The nature, quality and appropriateness of the assaying and laboratory	•	All samples were initially analysed for Ni and Co using ME-ICP61 (four acid
	assay data	procedures used and whether the technique is considered partial or total.		digest followed by analysis using inductively coupled plasma atomic
	and	• For geophysical tools, spectrometers, handheld XRF instruments, etc, the		emission spectroscopy). Any samples showing >1% Ni were re-assayed
	laboratory	parameters used in determining the analysis including instrument make		using ME-OG62 (4 acid digest and analysis using atomic emission
	tests	and model, reading times, calibrations factors applied and their derivation,		spectroscopy).
		etc.	• Selected samples were resubmitted for PGM-ICP23 – a		Pt, Pd, Au package
		• Nature ofquality controlprocedures adopted(eg stndards, blanks,		using30glead fire assaywith ICP-AES finish

	Criteria	JORC Code explanation	Commentary
		duplicates, external laboratory checks) and whether acceptable levels of	• Field blanks were inserted in the sample sequence approximately 1 in 100
		accuracy (ie lack of bias) and precision have been established.	samples.
			• Field standards were inserted in the sample sequence approximately 1 in
			33 samples.
			• The laboratory completed industry standard QAQC.
	Verification of	• The verification of significant intersections by either independent or	• Assay results were verified by more than one Dynamic geologist.
	sampling and	alternative company personnel.
	assaying	• 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
	Location of	• Accuracy and quality of surveys used to locate drill holes (collar and down-	• Sample locations were surveyed using a handheld GPS positions were
	data points	hole surveys), trenches, mine workings and other locations used in Mineral	also checked against a Digital Elevation Model (DEM).
		Resource estimation.	• Locations are reported in metres GDA94 MGA Zone 51.
		• Specification of the grid system used.
		• Quality and adequacy of topographic control.
	Data spacing	• Data spacing for reporting of Exploration Results.	• AC and RC samples were combined into 2m composites for first pass
	and	• Whether the data spacing and distribution is sufficient to establish the	assaying.
	distribution	degree of geological and grade continuity appropriate for the Mineral	• No Mineral Resources have been estimated.
		Resource and Ore Reserve estimation procedure(s) and classifications
		applied.
		• Whether sample compositing has been applied.
	Orientation of	• Whether the orientation of sampling achieves unbiased sampling of possible	• Intervals reported are not considered true widths.
	data in	structures and the extent to which this is known, considering the deposit	• There is not enough information to make assumptions regarding drillhole
	relation to	type.	orientation.
	geological	• If the relationship between the drilling orientation and the orientation of key
	structure	mineralised structures is considered to have introduced a sampling bias,
		this should be assess and reported if material.
	Sample	• The measures taken to ensure sample security.	• Samples were subject to industry standard sample security methods.
	security
	Audits or	• The results of any audits or reviews of sampling techniques and data.	• No audits have been completed at this stage.
	reviews

Section 2 Reporting of Exploration Results

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

Criteria	JORC Code explanation	Commentary
Mineral	• Type, reference name/number, location and ownership including	• The Lake Percy Project is located on exploration licence E 15/1981 and E
tenement and	agreements or material issues with third parties such as joint ventures,	63/2088 which are owned by Dynamic.
land tenure	partnerships, overriding royalties, native title interests, historical sites,	• No joint ventures or royalty interests are applicable.
status	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.
Exploration	• Acknowledgment and appraisal of exploration by other parties.	• The area coincident with E 63/1981 and E 63/2088 has explored for gold,
done by other		nickel and lithium by various operators since the 1960s.
parties
Geology	• Deposit type, geological setting and style of mineralisation.	• Reported nickel mineralisation is of the mafic intrusive nickel sulphide ore
		deposit type.
Drill hole	• A summary of all information material to the understanding of the	• Please see table and figures in main body of text.
Information	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.
	• If the exclusion of this information is justified on the basis that the
	information is not Material and this exclusion does not detract from the
	understanding of the report, the Competent Person should clearly explain
	why this is the case.
Data	• In reporting Exploration Results, weighting averaging techniques, maximum	• Significant intercepts are presented as a simple average above a 0.35% Ni
aggregation	and/or minimum grade truncations (eg cutting of high grades) and cut-off	and for PGEs >50 ppb
methods	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

	Criteria	JORC Code explanation	Commentary
		aggregations should be shown in detail.
		• The assumptions used for any reporting of metal equivalent values should
		be clearly stated.
	Relationship	• These relationships are particularly important in the reporting of	• Downhole lengths reported are true widths are not known.
	between	Exploration Results.
	mineralisation	• If the geometry of the mineralisation with respect to the drill hole angle is
	widths and	known, its nature should be reported.
	intercept	• If it is not known and only the down hole lengths are reported, there should
	lengths	be a clear statement to this effect (eg ‘down hole length, true width not
		_known’). _
	Diagrams	• Appropriate maps and sections (with scales) and tabulations of intercepts	• See main body of announcement.
		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.
	Balanced	• Where comprehensive reporting of all Exploration Results is not practicable,	• All drilling results above a cut-off of 0.35% Ni are regarded as significant
	reporting	representative reporting of both low and high grades and/or widths should	and have been reported.
		bepracticed to avoid misleading reporting of Exploration Results.
	Other	• Other exploration data, if meaningful and material, should be reported	• No additional observations at this time.
	substantive	including (but not limited to): geological observations; geophysical survey
	exploration	results; geochemical survey results; bulk samples – size and method of
	data	treatment; metallurgical test results; bulk density, groundwater,
		geotechnical and rock characteristics; potential deleterious or
		contaminating substances.
	Further work	• The nature and scale of planned further work (eg tests for lateral extensions	• Utilise drilling results in the Company’s targeting model to plan, permit
		or depth extensions or large-scale step-out drilling).	and execute follow up drill testing.
		• Diagrams clearly highlighting the areas of possible extensions, including the
		main geological interpretations and future drilling areas, provided this
		information is not commercially sensitive.

3 ANNEXURE C

JORC Code 2012 Edition – Table 1 – Sunday Soak Drilling Section 1 Sampling Techniques and Data

Criteria	JORC Code explanation	Commentary	Commentary
Sampling	• Nature and quality of sampling (eg cut channels, random chips, or specific	•	AC drilling was used to collect samples at 1m intervals from the rig
Techniques	specialised industry standard measurement tools appropriate to the		mounted cyclone
	minerals under investigation, such as down hole gamma sondes, or	•	A representative sample of approximately 2-4kg was collected from
	handheld XRF instruments, etc). These examples should not be taken as		each interval and placed in an individually labelled, consecutively
	limiting the broad meaning of sampling.		numbered calico sample bags using industry standard techniques
	• Include reference to measures taken to ensure sample representivity and	•	The AC samples obtained are considered representative of the
	the appropriate calibration of any measurement tools or systems used.		material drilled.
	• Aspects of the determination of mineralisation that are Material to the
	Public Report.
	• In cases where ‘industry standard’ work has been done this would be
	relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m
	samples from which 3 kg was pulverised to produce a 30 g charge for fire
	assay’). In other cases more explanation may be required, such as where
	there is coarse gold that has inherent sampling problems. Unusual
	commodities or mineralisation types (eg submarine nodules) may warrant
	disclosure of detailed information.
Drilling	• Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast,	•	Drilling was completed using conventional AC drilling techniques.
Techniques	auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard
	tube, depth of diamond tails, face-sampling bit or other type, whether core
	is oriented and if so, by what method, etc).
Drill sample	• Method of recording and assessing core and chip sample recoveries and	•	Drilling intervals were assessed to determine the condition and
recovery	results assessed.		approximate recovery. The rig mounted cyclone was routinely
	• Measures taken to maximise sample recovery and ensure representative		balanced and cleared to minimise contamination.
	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.

	Criteria	JORC Code explanation	Commentary
	Logging	• Whether core and chip samples have been geologically and geotechnically	•	Qualitative lithological descriptions (colour, weathering, grain size,
		logged to a level of detail to support appropriate Mineral Resource		lithology, mineralogy, veining textures and other significant features)
		estimation, mining studies and metallurgical studies.		were recorded by the field geologist.
		• Whether logging is qualitative or quantitative in nature. Core (or costean,
		channel, etc) photography.
		• The total length and percentage of the relevant intersections logged.
	Sub-sampling	• If core, whether cut or sawn and whether quarter, half or all core taken.	•	2m composites were taken down hole, with 1m sampled taken at
	techniques	• If non-core, whether riffled, tube sampled, rotary split, etc and whether		bottom of hole (BOH)
	and sample	sampled wet or dry.	•	For 2m composite: 1m samples were ‘speared’ to achieve a weight
	preparation	• For all sample types, the nature, quality and appropriateness of the sample		between 2-4kg
		preparation technique.	•	For BOH sample: BOH sample was ‘speared’ to achieve a weight
		• Quality control procedures adopted for all sub-sampling stages to maximise		between 1-3kg
		representivity of samples.	•	The sample sizes are appropriate for the first pass nature of the
		• Measures taken to ensure that the sampling is representative of the in situ		completed drilling
		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.
	Quality of	• The nature, quality and appropriateness of the assaying and laboratory	•	Samples were submitted to ALS Laboratories in Kalgoorlie
	assay data	procedures used and whether the technique is considered partial or total.	•	All samples were initially analysed for Ni using ME-ICP61 (four acid
	and	• For geophysical tools, spectrometers, handheld XRF instruments, etc, the		digest followed by analysis using inductively coupled plasma atomic
	laboratory	parameters used in determining the analysis including instrument make		emission spectroscopy)
	tests	and model, reading times, calibrations factors applied and their derivation,	•	Field standards were inserted in the sample sequence approximately
		etc.		1 in 50 samples
		• Nature of quality control procedures adopted (eg stndards, blanks,	•	ALS inserted QAQC samples in the samples sequence at a rate of 1 in
		duplicates, external laboratory checks) and whether acceptable levels of		30 for repeats, 1 for 15 for standards and 1 for 40 for blank
		accuracy (ie lack of bias) andprecision have been established.
	Verification of	• The verification of significant intersections by either independent or	•	Sampling was supervised by Dynamic personnel.
	sampling and	alternative company personnel.	•	No holes were twinned.
	assaying	• The use of twinned holes.	•	Logging and sampling data collected in the field and results returned
		• Documentation of primary data, data entry procedures, data verification,		from the laboratory are stored in a database.
		data storage (physical and electronic) protocols.
		• Discuss any adjustment to assay data
	Location of	• Accuracy and quality of surveys used to locate drill holes (collar and down-	•	Sample locations were surveyed using a handheld GPS positions
	data points	hole surveys), trenches, mine workings and other locations used in Mineral	•	Locations are reported in metres GDA94 MGA Zone 51.
		Resource estimation.

	Criteria	JORC Code explanation	Commentary
		• Specification of the grid system used.
		• Quality and adequacy of topographic control.
	Data spacing	• Data spacing for reporting of Exploration Results.	•	Holes were collared 40m apart along lines spaced between 200m
	and	• Whether the data spacing and distribution is sufficient to establish the		apart.
	distribution	degree of geological and grade continuity appropriate for the Mineral	•	Sampling occurred at 2m composite intervals. BOH samples were
		Resource and Ore Reserve estimation procedure(s) and classifications		sampled as 1m intervals.
		applied.	•	No Mineral Resources have been estimated.
		• Whether sample compositing has been applied.
	Orientation of	• Whether the orientation of sampling achieves unbiased sampling of possible	•	There is not enough information to make assumptions regarding
	data in	structures and the extent to which this is known, considering the deposit		drillhole orientation.
	relation to	type.
	geological	• If the relationship between the drilling orientation and the orientation of key
	structure	mineralised structures is considered to have introduced a sampling bias,
		this should be assess and reported if material.
	Sample	• The measures taken to ensure sample security.	•	Samples were placed in bulka bags and freighted directly to ALS in
	security			Kalgoorlie by DYM field personnel.
	Audits or	• The results of any audits or reviews of sampling techniques and data.	•	No audits have been completed at this stage.
	reviews

Section 2 Reporting of Exploration Results

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

Criteria	JORC Code explanation	Commentary	Commentary
Mineral	• Type, reference name/number, location and ownership including	•	Drilling is located on E 15/1705 which is 100% owned by Dynamic
tenement and	agreements or material issues with third parties such as joint ventures,		Metals Limited.
land tenure	partnerships, overriding royalties, native title interests, historical sites,	•	No joint ventures or royalty interests are applicable.
status	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.
Exploration	• Acknowledgment and appraisal of exploration by other parties.	•	Exploration has been undertaken by several companies over time
done by other			including but not limited to Resolute Gold, WMC and Avoca Mining.
parties
Geology	• Deposit type, geological setting and style of mineralisation.	•	Exploration is for nickel typical of the Kambalda region of Western
			Australia.
Drill hole	• A summary of all information material to the understanding of the	•	Please see table attached in Annexure D for collar positions. No
Information	exploration results including a tabulation of the following information for all		significant results were received in this program.
	Material drill holes:
	• easting and northing of the drill hole collar
	• elevation or RL (Reduced Level – elevation above sea level in metres) of the
	drill hole collar
	• dip and azimuth of the hole
	• down hole length and interception depth
	• hole length.
	• If the exclusion of this information is justified on the basis that the
	information is not Material and this exclusion does not detract from the
	understanding of the report, the Competent Person should clearly explain
	why this is the case.
Data	• In reporting Exploration Results, weighting averaging techniques, maximum	•	No significant results have been reported in this program.
aggregation	and/or minimum grade truncations (eg cutting of high grades) and cut-off
methods	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

	Criteria	JORC Code explanation	Commentary
		aggregations should be shown in detail.
		• The assumptions used for any reporting of metal equivalent values should
		be clearly stated.
	Relationship	• These relationships are particularly important in the reporting of	• No significant results have been reported from this program.
	between	Exploration Results.
	mineralisation	• If the geometry of the mineralisation with respect to the drill hole angle is
	widths and	known, its nature should be reported.
	intercept	• If it is not known and only the down hole lengths are reported, there should
	lengths	be a clear statement to this effect (eg ‘down hole length, true width not
		_known’). _
	Diagrams	• Appropriate maps and sections (with scales) and tabulations of intercepts	• No significant results have been reported, so no diagrams have been
		should be included for any significant discovery being reported. These	included. Collar details are attached in Annexure D.
		should include, but not be limited to a plan view of drill hole collar locations
		and appropriate sectional views.
	Balanced	• Where comprehensive reporting of all Exploration Results is not practicable,	• No significant results have been reported from this program.
	reporting	representative reporting of both low and high grades and/or widths should
		bepracticed to avoid misleading reporting of Exploration Results.
	Other	• Other exploration data, if meaningful and material, should be reported	• Historic results have not been repeated, so target is downgraded.
	substantive	including (but not limited to): geological observations; geophysical survey
	exploration	results; geochemical survey results; bulk samples – size and method of
	data	treatment; metallurgical test results; bulk density, groundwater,
		geotechnical and rock characteristics; potential deleterious or
		contaminating substances.
	Further work	• The nature and scale of planned further work (eg tests for lateral extensions	• Target has been downgraded so no further work planned at this stage.
		or depth extensions or large-scale step-out drilling).
		• Diagrams clearly highlighting the areas of possible extensions, including the
		main geological interpretations and future drilling areas, provided this
		information is not commercially sensitive.

4 ANNEXURE D

Nickel Drilling Table – Sunday Soak Prospect

Note: Significant intersections are defined by minimum 1m downhole length greater than 1% Ni NSA (“No Significant Assay”) means the assays did not meet the criteria above.

Prospect	Hole ID	Collar	Coordinates (MGA)	Coordinates (MGA)	EOH Depth	Dip / Azi	Interval
		Northing	Easting	RL
Sunday Soak	SSA001	6490893	361333	303	26	-90	NSA
Sunday Soak	SSA002	6490876	361286	303	32	-90	NSA
Sunday Soak	SSA003	6490859	361260	302	26	-90	NSA
Sunday Soak	SSA004	6490844	361225	301	29	-90	NSA
Sunday Soak	SSA005	6490830	361191	302	27	-90	NSA
Sunday Soak	SSA006	6490810	361149	301	35	-90	NSA
Sunday Soak	SSA007	6490788	361119	301	35	-90	NSA
Sunday Soak	SSA008	6490782	361083	300	38	-90	NSA
Sunday Soak	SSA009	6491075	361254	300	56	-90	NSA
Sunday Soak	SSA010	6491059	361205	300	64	-90	NSA
Sunday Soak	SSA011	6491042	361182	301	55	-90	NSA
Sunday Soak	SSA012	6491023	361147	301	53	-90	NSA
Sunday Soak	SSA013	6491009	361103	302	57	-90	NSA
Sunday Soak	SSA014	6490987	361075	302	30	-90	NSA
Sunday Soak	SSA015	6490974	361038	301	41	-90	NSA
Sunday Soak	SSA016	6490947	361006	300	32	-90	NSA