EAGLE MOUNTAIN MINING LIMITED — Capital/Financing Update 2022

Apr 19, 2022

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A S X A n n o u n c e m e n t | 2 0 A p r i l 2 0 2 2

Strong Copper Results Support Resource Expansion Potential at Oracle Ridge

• Resource expansion drilling intercepted the following thick zones:

• 55.3m at 2.16% Cu, 17.15g/t Ag and 0.54g/t Au, 0.024% Mo (WT-22-94), including:  21.3m at 3.28% Cu, 26.16g/t Ag, 0.76g/t Au and 0.038% Mo

• 12.2m at 2.35% Cu, 24.46g/t Ag and 0.57g/t Au (WT-21-71)

• 6.2m at 3.19% Cu, 44.94g/t Ag and 0.61g/t Au (WT-21-65), including:

  • 0.8m at 15.55% Cu, 240g/t Ag and 2.30g/t Au

• 15.4m at 1.91% Cu, 15.88 g/t Ag and 0.31 g/t Au (WT-21-64), including:

  • 1.2m at 10.85% Cu, 121g/t Ag and 1.09g/t Au

• 14.6m at 1.72% Cu, 21.30g/t Ag and 0.27 g/t Au (WT-21-67)

• Elevated molybdenum grades of 0.038% Mo received in drill hole WT-22-94 over an intercept of 21.3 metres. Molybdenum is common in copper skarns elsewhere in Arizona. The surrounding 55.3 metre intercept included an impressive 0.54g/t gold which is 220% higher than the MRE grade at a 1% copper cut-off

• Resource infill drilling included the following excellent results:

• 9.8m at 2.78% Cu, 31.57g/t Ag and 0.48g/t Au (WT-21-93), including:

  • 0.7m at 10.05% Cu, 140g/t Ag and 1.90g/t Au

• 6.3m at 2.71% Cu, 23.87g/t Ag and 0.51g/t Au (WT-21-70)

• 5.7m at 2.47% Cu, 21.48g/t Ag and 0.23g/t Au (WT-21-72)

• Next JORC MRE update is now planned for the July-September 2022 quarter (previously October-December 2022). Updated MRE still to include approximately 100 new holes on the back of strong drilling rates and improved assay turnaround time

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Page 1

Eagle Mountain Mining Limited ( ASX:EM2 ) (“ Eagle Mountain ”, the “ Company ”) is pleased to provide an update on its 100% owned Oracle Ridge Mine Project (“Oracle Ridge”, “Project”) in Arizona, USA.

Assays have been received for 15 drill holes, comprising 11 resource extension holes and four resource infill holes. Figures 1 and 2 illustrate the location of significant new results while Tables 1 and 2 summarise key intercepts.

Eagle Mountain Mining CEO, Tim Mason, commented:

“These impressive results come as I’m finally spending time with our team in Arizona, after a disruptive few years caused by COVID. What really shines through is their professionalism and excitement at potentially restarting underground mining operations. The Arizona team’s enthusiasm and hard work have been key contributors to our success so far and there are plenty more prospective targets that we are keen to drill test as soon as possible.

Resource extension drilling at the Talon zone is really delivering the goods, including the spectacular intercept of 55 metres at 2.16% copper which is outside the recently updated MRE. Significantly, this broad intercept also included strong gold grades. This intercept, along with others, is within the Wave zone which is interpreted to extend 250 metres south to the historic Leatherwood mine.

The discovery of an elevated molybdenum zone within the Talon is an exciting development. This discovery raises the opportunity to unlock further value from Oracle Ridge and identify prospective new target areas.

We have now received 34 new hole results since the updated MRE was released last month. That update saw an increase of 36% more contained copper with the addition of 59 new holes. As we receive drill results and revise our geologic model, we will undertake Mineral Resource Estimate updates more frequently to be confident in launching our preliminary feasibility study.”

Accelerated JORC MRE Update

Drilling rates with two surface rigs are progressing very well and assay turnaround times have vastly improved since the Company’s new core saw was installed in November last year. These excellent operational results, along with a continuous stream of strong assays results, have contributed to the Company’s decision to accelerate the timing of the next mineral resource update to the July-September 2022 quarter (Q3) from the previously announced October-December 2022 quarter (Q4). The next MRE update is expected to include approximately 100 new holes.

The Company is focused on building sufficient mineral resources in the higher confidence categories (Measured and Indicated). These latest results will contribute to the next JORC MRE update which will be another key step towards providing a Resource base for a Preliminary Feasibility Study (PFS). Drilling is planned to continue after the updated MRE to further build and update resources while a Preliminary Feasibility Study is undertaken in parallel.

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Figure 1 – Plan view of the Talon target showing the Wave Zones, including selected results. Due to the geometry of the drilling completed (fan drilling from a limited number of pads), the points represent the approximate pierce point of each hole through the Leatherwood-Sediments contact (refer also to ASX announcements 30 July 2021 and 29 October 2021). The Wave Zones remain open to the east, while to the west it terminates against the Wave itself.

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Figure 2 – Plan view of main mine area at Oracle Ridge showing the location of recent and previously reported assay results for the Resource Infill and Resource Extension drill programs (refer also ASX announcement 24 January 2022)

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Resource Expansion Results

Results for 11 resource expansion holes have been received (Table 1, Attachment 1) which continue to support potential further extensions and growth of the recently updated MRE at a 1% copper cut-off grade. Key observations from the new drill holes include:

• Drilling in the southern Talon (WT-22-94) intersected extensions to strong mineralisation in previously reported holes (WT-21-31, WT-22-80). The zone is at least 150 metres long in a north south direction and is interpreted to dip very steeply to the east (Figure 1, Figure 3). Preliminary interpretation suggests that this rich zone is controlled by local stratigraphy and proximity to the Leatherwood-Sediments contact. New drilling supports the interpretation that a second Wavelike structure is present in this area. Elevated molybdenum grades of 0.038% Mo were also received in drill hole WT-22-94. Molybdenum had not been routinely assayed by previous owners and its spatial continuity is not well understood. Skarn expert Dr Larry Meinert has been engaged to assist with evaluating the latest results including the elevated molybdenum and how this can assist in vectoring toward areas of further mineralisation. Molybdenum is common in other copper skarns and can be a valuable co-product from mines. WT-22-94 also included a 55.3 metre interval at an average of 0.54g/t gold which is more than two times the MRE gold grade at a 1% copper cut-off grade.

• WT-21-67 and WT-21-64 were drilled along the northern extension of the second Wave feature interpreted at the southern Talon (see WT-22-94 discussion above, Figure 1, Figure 5). While the Wave itself is less defined in this area, mineralised thicknesses show a strong increase from east to west, towards the contact with the Leatherwood Q-Sill’s eastern limb.

• Several reported results are from holes drilled to the south of the main mine area (WT-21-66, WT-21-71, WT-21-77, WT-22-84, WT-22-86, WT-22-91 – see Figure 2 and Figures 7-10) and continue to indicate stacked mineralised lodes with thicknesses decreasing from north to south. Several assay results are still outstanding in this zone.

• WT-21-65 was drilled in the northern Talon area and successfully extended known mineralisation to the west (Figure 1, Figure 6). This area is the northern extension of the main Wave feature.

• WT-22-85 was drilled in the Talon area, testing the potential for mineralisation west of the main Wave. The drill hole intersected four thin mineralised zones (Figure 1). While the results can be considered a technical success only, it is encouraging that mineralisation has been encountered to the west of the wave and further drilling is planned to assess the full potential of this zone.

Page 5

A summary of key intercepts from Resource Expansion drilling is outlined in Table 1 below.

Table 1 – Summary of Significant Resource Expansion results above 1% Copper cut-off grade

Hole ID	From	To	Width	Cu	Ag	Au	Mo
	[m]	[m]	[m]	[%]	[g/t]	[g/t]	[%]
WT-21-64	135.8	137.0	1.2	10.85	121.00	1.09
within	135.8	138.6	2.8	5.40	58.43	0.56
	149.0	164.4	15.4	1.91	15.88	0.31
	194.9	204.0	9.1	1.29	7.27	0.29
WT-21-65	275.2	289.1	13.9	1.46	13.20	0.18
	298.3	299.1	0.8	15.55	240.00	2.30
	308.0	314.2	6.2	3.19	44.94	0.61
WT-21-66	42.4	45.0	2.6	1.83	14.25	0.30
	64.3	68.0	3.7	2.06	14.35	0.34
within	64.3	74.0	9.7	1.22	9.20	0.22
WT-21-67	140.6	142.0	1.4	3.34	28.20	0.29
	229.4	231.0	1.6	1.91	13.40	0.61
	262.5	277.1	14.6	1.72	21.30	0.27
WT-21-71	54.0	72.1	18.1	1.39	11.17	0.14
	94.8	107.0	12.2	2.35	24.46	0.57
WT-21-77	133.4	134.3	0.9	1.72	15.85	0.33
WT-22-84	97.3	99.9	2.6	2.96	28.43	0.27
	199.4	200.9	1.5	2.18	12.55	0.07
WT-22-85	198.8	199.3	0.5	1.93	16.20	0.25
	213.3	214.2	0.9	1.32	10.25	0.36
WT-22-86	212.8	216.3	3.5	1.24	19.39	0.23
	223.5	224.9	1.4	2.81	28.90	0.63
WT-22-91	179.7	181.8	2.1	1.52	8.32	0.28
	203.0	207.0	4.0	1.77	10.60	0.16
WT-22-94	191.0	208.0	17.0	2.34	18.35	0.61	0.027
	217.6	238.9	21.3	3.28	26.16	0.76	0.038
within	191.0	246.3	55.3	2.16	17.15	0.54	0.024

Note – intercepts shown are downhole widths and not true widths

Page 6

Resource Infill Results

The results for four resource infill holes have been received (Table 2, Attachment 1). These holes were drilled at a nominal Inferred spacing of 50 metres within the footprint of the recently updated MRE at a 1% copper cut-off grade. These holes are designed to improve resource confidence as part of a program to upgrade resource categories. Key observations from the results of resource infill holes include:

• WT-21-68 was drilled in the northern Talon area and confirmed previous drill results nearby. Extensions to mineralisation in WT-21-68 were drilled by WT-21-65 which showed an increase in grade and continuity to the west (see Resource Expansion section Figure 1, Figure 6).

• WT-21-70 was drilled in the southern main mine area and confirmed the overall extent and grade of the Resource in this area (Figure 2, Figure 10).

• WT-21-72 was drilled in the southern Talon area and confirmed the overall extent and grade of the Resource in this area (Figure 1, Figure 4).

• WT-21-93 was drilled in the central mine area and confirmed known mineralisation while localised assays returned over 10% copper. The lower part of the hole confirmed significant mineralisation is present to the west and east of the Leatherwood Q-Sill (Figure 2, Figure 9).

Assay results for 42 holes are currently pending from the mine area. Assays have been received for 11 holes from the maiden drill program at Golden Eagle and are currently being interpreted.

Table 2 – Summary of significant Resource Infill results above 1% Copper cut-off grade

Hole ID	From	To	Width	Cu	Ag	Au
	[m]	[m]	[m]	[%]	[g/t]	[g/t]
WT-21-68	247.8	253.4	5.6	1.75	17.94	0.30
	306.0	309.0	3.0	2.13	15.63	0.12
WT-21-70	96.0	102.3	6.3	2.71	23.87	0.51
WT-21-72	126.5	132.2	5.7	2.47	21.48	0.23
	176.0	177.1	1.1	5.02	33.10	0.25
	218.8	223.5	4.7	2.61	19.54	0.93
WT-22-93	255.2	255.7	0.5	4.34	44.00	0.24
	264.3	274.1	9.8	2.78	31.57	0.48
including	273.4	274.1	0.7	10.05	140.00	1.90
	330.3	331.1	0.8	4.91	11.30	0.13
	337.6	341.5	3.9	2.06	21.44	0.28

Note – intercepts shown are downhole widths and not true widths

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Figure 3 – North-south cross-section drill hole WT-22-94 showing mineralised intersections and relationships with nearby drill holes and local geology. (refer also ASX announcement 1 December 2021)

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Figure 4 – East-west cross-section through drill hole WT-21-72 showing mineralised intersections and relationships with nearby drill holes and local geology. (refer also ASX announcement 25 May 2020)

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Figure 5 – East-west cross-section through drill hole WT-21-64 and WT-21-67 showing mineralised intersections and relationships with nearby drill holes and local geology. (refer also ASX announcement 25 May 2020 and 11 November 2021)

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Figure 6 – East-west cross-section through drill holes WT-21-65 and WT-21-68 showing mineralised intersections and relationships with nearby drill holes and local geology. (refer also ASX announcements 25 May 2020 and 12 January 2022)

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Figure 7 – East-west cross-section through drill holes WT-22-84 and WT-22-91 showing mineralised intersections and relationships with nearby drill holes and local geology. (refer also ASX announcement 25 May 2020)

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Figure 8 – East-west cross-section through drill hole WT-21-86 showing mineralised intersections and relationships with nearby drill holes and local geology. (refer also ASX announcement 25 May 2020)

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Figure 9 – East-west cross-section through drill hole WT-22-93 showing mineralised intersections and relationships with nearby drill holes and local geology. (refer also ASX announcement 25 May 2020 )

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Figure 10 – East-west cross-section through drill holes WT-21-66, WT-21-70 and WT-21-71 showing mineralised intersections and relationships with nearby drill holes and local geology. (refer also ASX announcement 25 May 2020 )

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For further information please contact:

Tim Mason Mark Pitts BEng, MBA, GAICD B.Bus, FCA, GAICD Chief Executive Officer Company Secretary tim@eaglemountain.com.au mark@eaglemountain.com.au

Jane Morgan Investor and Media Relations jm@janemorganmanagement.com.au

This Announcement has been approved for release by the Board of Eagle Mountain Mining Limited

COMPETENT PERSON STATEMENT

The information in this document that relates to new Exploration Activities is based on information compiled by Mr Fabio Vergara and Mr Brian Paull who are both Members of The Australasian Institute of Mining and Metallurgy (MAusIMM) and have sufficient experience relevant to the activity which they are undertaking to qualify as a Competent Persons as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code 2012). Mr Vergara is the Chief Geologist and Mr Paull Principal Geologist of Eagle Mountain Mining Limited and consent to the inclusion in this document of the information in the form and context in which it appears. Mr Vergara and Mr Paull hold shares and options in Eagle Mountain Mining Limited.

Where the Company references historic exploration results including technical information from previous ASX announcements including 25 May 2020, JORC Table 1 disclosures are included within them. The Company confirms that it is not aware of any new information or data that materially affects the information included in those announcements, and all material assumptions and technical parameters underpinning the results within those announcements continue to apply and have not materially changed. In addition, the form and context in which the Competent Persons findings are presented have not been materially modified from the original reports.

The information in this report that relates to historic production results was prepared and first disclosed under a pre-2012 edition of the JORC Code. The data has been compiled but NOT validated by Eagle Mountain geologists. At this stage, Eagle Mountain is unable to conclude that the production data is reliable. However, nothing has come to the attention of Eagle Mountain that causes it to question the accuracy or reliability of the historic production results and the various source reports.

EAGLE MOUNTAIN MINING LIMITED

Eagle Mountain is a copper-gold explorer focused on the strategic exploration and development of the Oracle Ridge Copper Mine and the highly prospective greenfields Silver Mountain project, both located in Arizona, USA.

Arizona is at the heart of America’s mining industry and home to some of the world’s largest copper discoveries such as Bagdad, Miami and Resolution, one of the largest undeveloped copper deposits in the world.

Follow the Company’s developments through our website and social media channels

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Website[https://eaglemountain.com.au/]

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Twitter https://twitter.com/eagle_mining

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LinkedIn[https://www.linkedin.com/company/eagle-mountain-mining-ltd/]

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Attachment 1

Summary table of recent drill holes at Oracle Ridge

Hole ID	Easting	Northing	Elevation	Dip	Azimuth	Depth
	[m]	[m]	[m]	[◦]	[◦]	[m]
WT-21-62	524372	3592479	2193	79	311	390.6
WT-21-63	523959	3593091	2093	52	031	343.5
WT-21-64	524560	3592300	2108	70	275	383.4
WT-21-65	524363	3592476	2193	61	307	398.7
WT-21-66	524029	3593092	2129	70	167	162.9
WT-21-67	524560	3592300	2108	83	266	341.5
WT-21-68	524372	3592479	2193	67	320	373.1
WT-21-69	524560	3592300	2108	80	162	336.5
WT-21-70	524029	3593092	2128	63	128	205.1
WT-21-71	524029	3593092	2129	50	149	184.4
WT-21-72	524560	3592300	2108	79	227	307.2
WT-21-73	524560	3592300	2108	50	172	136.2
WT-21-74	524372	3592479	2193	60	331	388.3
WT-21-75	524172	3593121	2152	49	224	203.3
WT-21-76	524560	3592300	2108	69	249	317.6
WT-21-77	524079	3593012	2177	80	328	206.0
WT-21-78	524079	3593012	2177	77	128	203.9
WT-21-79	524372	3592479	2193	56	337	438.0
WT-21-80	524560	3592300	2108	69	206	331.6
WT-21-81	524071	3592956	2177	68	277	200.6
WT-22-82	524071	3592956	2177	50	254	221.6
WT-21-83	524560	3592300	2108	65	226	343.8
WT-22-84	524071	3592956	2177	61	206	257.6
WT-21-85	524372	3592479	2193	53	279	353.0
WT-22-86	524071	3592956	2180	55	192	282.9
WT-22-87	524560	3592300	2108	57	238	326.7
WT-22-88	524071	3592956	2180	75	185	229.8
WT-22-89	524372	3595479	2193	85	137	356.6
WT-22-90	524556	3592292	2105	67	175	352.4
WT-22-91	524071	3592856	2180	65	177	268.2
WT-22-92	524071	3592961	2180	69	149	245.1
WT-22-93	524071	3592961	2178	35	135	356.6
WT-22-94	524555	3592291	2106	63	197	351.9
WT-22-95	524072	3592963	2183	77	128	348.7
WT-22-96	524555	3592291	2106	58	213	353.0
WT-22-97	524071	3592964	2180	66	120	260.3
WT-22-98	524069	3592959	2183	69	092	283.5
WT-22-99	524437	3592417	2152	71	205	365.2
WT-22-100	524554	3592292	2105	52	227	338.6
WT-22-101	523940	3593328	2050	69	238	227.7
WT-22-102	523940	3593327	2048	81	175	215.2
WT-22-103	524555	3592290	2104	51	205	365.2
WT-22-104	523941	3593325	2049	73	120	288.8
WT-22-105	524555	3592290	2104	47	217	301.1
WT-22-106	524437	3592417	2151	68	180	392.6
WT-22-107	523940	3593326	2047	57	098	322.2
WT-22-108	524560	3592300	2108	61	151	331.3
WT-22-109	523942	3593326	2048	66	088	269.7

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WT-22-110	523942	3593326	2048	54	193	396.8
WT-22-111	523951	3593328	2045	56	078	310.3
WT-22-112	524560	3592300	2108	46	190	413.6
WT-22-113	523951	3593328	2045	61	063	278.6
WT-22-114	524551	3592296	2103	68	011	339.2
WT-22-115	523941	3593327	2050	68	047	298.1
WT-22-116	524554	3592292	2105	69	152	317.6
WT-22-117	523937	3593321	2052	84	350	214.5
WT-22-118	524519	3592579	2094	58	237	344.4
WT-22-119	524641	3592290	2077	58	089	299.3
WT-22-120	524519	3592579	2094	50	243	386.8
WT-22-121	524641	3592290	2077	49	090	332.2
WT-22-122	524560	3592300	2108	76	117	Abandoned
WT-22-123	524641	3592290	2077	55	099	289.0
WT-22-124	524560	3592300	2108	77	075	312.4
WT-22-125	524641	3592290	2077	56	079	302.7
WT-22-126	524560	3592300	2108	72	036	322.2
WT-22-127	523851	3592717	2280	54	203	Inprogress
WT-22-128	524641	3592290	2077	50	075	Inprogress
GE-21-01	527468	3593409	1497	65	035	261.5
GE-21-02	527468	3593409	1497	60	002	249.9
GE-21-03	527468	3593409	1497	76	002	295.7
GE-21-04	527468	3593409	1497	64	065	253.3
GE-21-05	527468	3593408	1497	50	260	309.4
GE-21-06	528007	3593650	1485	80	180	487.7
GE-21-07	526940	3593290	1559	60	45	639.2
GE-21-08	526940	3593290	1559	83	45	526.1
GE-21-09	526939	3593291	1559	50	340	624.8
GE-21-10	526822	3593288	1562	45	190	449.6
GE-21-11	526566	3593264	1592	47	0	478.8
GE-21-12	526577	3593249	1592	60	0	548.6
GE-21-13	526564	3593262	1594	85	355	276.5

Summary table of recent diamond drill hole intersections at Oracle Ridge

Note - All reported intervals are downhole widths.

Hole ID	From	To	Width	Cu	Ag	Au
WT-21-62	208.4	210.9	2.5	1.86	9.11	0.45
	217.6	218.6	1.0	2.03	15.65	0.42
	282.5	284.7	2.2	6.06	53.60	1.88
within	278.9	285.5	6.6	3.28	27.34	0.83
	317.2	322.2	5.0	1.04	10.72	0.14
	329.3	330.6	1.3	10.40	43.80	0.36
within	328.4	331.7	3.3	5.33	27.37	0.23
WT-21-63	34.3	35.9	1.6	1.69	15.55	0.29
	37.0	38.0	1.0	1.61	22.70	0.19
	69.8	91.5	21.7	2.85	25.85	0.53
including	86.7	89.0	2.3	5.47	55.76	1.07
	115.1	128.3	13.2	3.50	35.46	0.43
including	125.3	127.0	1.7	7.34	78.70	0.70
	139.5	145.7	6.2	2.45	25.54	0.47
	165.3	166.1	0.8	10.20	66.90	0.65
within	164.2	166.1	1.9	5.71	41.66	0.49
	190.6	217.5	26.9	2.01	23.99	0.23
	231.2	232.2	1.0	1.36	19.25	0.15

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Hole ID	From	To	Width	Cu	Ag	Au
	236.3	260.3	24.0	2.22	19.91	0.24
WT-21-64	135.8	137.0	1.2	10.85	121.00	1.09
within	135.8	138.6	2.8	5.40	58.43	0.56
	149.0	164.4	15.4	1.91	15.88	0.31
	173.8	174.3	0.5	1.72	12.55	0.21
	194.9	204.0	9.1	1.29	7.27	0.29
WT-21-65	218.4	219.9	1.5	1.10	10.05	0.40
	258.5	260.9	2.4	1.45	12.85	0.35
	275.2	289.1	13.9	1.46	13.20	0.18
	298.3	299.1	0.8	15.55	240.00	2.30
	308.0	314.2	6.2	3.19	44.94	0.61
WT-21-66	42.4	45.0	2.6	1.83	14.25	0.30
	48.0	49.8	1.8	1.47	7.37	0.15
within	42.4	49.8	7.4	1.25	8.51	0.18
	64.3	68.0	3.7	2.06	14.35	0.34
	72.0	74.0	2.0	1.38	10.00	0.32
within	64.3	74.0	9.7	1.22	9.20	0.22
WT-21-67	140.6	142.0	1.4	3.34	28.20	0.29
	144.3	145.7	1.4	1.96	15.60	0.21
	183.6	184.5	0.9	1.14	9.63	0.17
	198.5	199.1	0.6	1.34	12.50	0.08
	229.4	231.0	1.6	1.91	13.40	0.61
	236.0	237.5	1.5	1.03	7.58	0.55
	262.5	277.1	14.6	1.72	21.30	0.27
WT-21-68	247.8	253.4	5.6	1.75	17.94	0.30
	306.0	309.0	3.0	2.13	15.63	0.12
	315.2	316.8	1.6	1.16	15.50	0.14
WT-21-69			Assayspending
WT-21-70	61.3	62.3	1.0	1.42	11.10	0.13
	88.0	89.5	1.5	1.73	16.40	0.11
	96.0	102.3	6.3	2.71	23.87	0.51
WT-21-71	54.0	72.1	18.1	1.39	11.17	0.14
	94.8	107.0	12.2	2.35	24.46	0.57
	112.0	113.9	1.9	1.47	2.98	0.02
WT-21-72	126.5	132.2	5.7	2.47	21.48	0.23
	137.8	138.5	0.7	1.63	18.25	1.69
	163.5	164.5	1.0	1.70	13.75	0.34
	176.0	177.1	1.1	5.02	33.10	0.25
	218.8	223.5	4.7	2.61	19.54	0.93
	227.8	228.4	0.6	4.92	36.10	2.31
	235.1	235.9	0.8	1.66	11.60	1.20
	236.3	260.3	24.0	2.22	19.91	0.24
WT-21-73			Assayspending
WT-21-74	258.0	259.4	1.4	1.09	14.10	0.39
	269.4	270.5	1.1	1.04	4.64	0.08
	274.6	275.5	0.9	6.85	49.20	0.57
within	274.6	276.5	1.9	3.77	28.44	0.39
	312.3	313.0	0.7	2.84	9.48	0.14
	318.0	322.5	4.5	2.37	27.64	0.26
	325.4	326.1	0.7	2.24	35.80	0.42
	336.6	342.6	6.0	1.57	6.67	0.05
	348.2	349.2	1.0	2.13	3.55	0.01
WT-21-75	159.8	165.0	5.2	1.04	11.06	0.15
	169.4	173.3	3.9	2.04	14.32	0.42
WT-21-76	113.2	114.3	1.1	1.34	11.45	0.13
	116.0	116.8	0.8	1.08	9.40	0.09
	150.5	151.5	1.0	3.16	57.10	40.30
within	150.5	154.3	3.8	1.80	27.63	10.92

Page 19

Hole ID	From	To	Width	Cu	Ag	Au
WT-21-77	133.4	134.3	0.9	1.72	15.85	0.33
WT-21-78	115.9	118.6	2.7	1.27	9.24	0.07
	153.5	156.0	2.5	2.08	32.18	0.46
	168.6	170.0	1.4	1.13	4.17	0.02
	172.6	173.6	1.0	1.25	38.80	0.26
WT-21-79	266.9	267.4	0.5	5.96	45.40	6.66
within	266.9	268.6	1.7	3.12	22.35	2.09
	277.6	279.3	1.7	1.52	10.25	0.20
	281.9	282.6	0.7	1.81	13.25	0.40
WT-21-80	173.5	174.7	1.2	1.20	16.40	0.20
	187.2	188.7	1.5	7.60	62.20	0.62
within	179.9	200.6	20.7	2.06	16.43	0.39
within*	176.8	221.5	44.7	1.60	12.75	0.32
WT-21-81	Assayspending
WT-22-82	Assayspending
WT-21-83	Assayspending
WT-22-84	95.0	95.9	0.9	1.42	11.00	0.15
	97.3	99.9	2.6	2.96	28.43	0.27
	102.5	103.5	1.0	1.77	16.90	0.21
	134.7	135.4	0.7	1.69	23.20	0.37
	192.2	193.5	1.3	1.04	8.97	0.21
	194.5	195.3	0.8	1.27	6.23	0.03
	199.4	200.9	1.5	2.18	12.55	0.07
	206.9	207.9	1.0	1.29	6.91	0.01
	229.3	231.1	1.8	1.19	11.15	0.08
WT-22-85	198.8	199.3	0.5	1.93	16.20	0.25
	213.3	214.2	0.9	1.32	10.25	0.36
	226.8	227.2	0.4	1.09	8.65	0.14
	248.8	249.3	0.5	1.01	14.75	0.19
WT-22-86	102.0	102.6	0.6	1.60	19.30	0.19
	212.8	216.3	3.5	1.24	19.39	0.23
	223.5	224.9	1.4	2.81	28.90	0.63
WT-22-87	Assayspending
WT-22-88	Assayspending
WT-22-89	Assayspending
WT-22-90	Assayspending
WT-22-91	102.4	104.5	2.1	1.01	7.97	0.13
	147.8	148.9	1.1	1.48	15.55	0.39
	179.7	181.8	2.1	1.52	8.32	0.28
	197.2	198.8	1.6	1.10	8.72	0.21
	203.0	207.0	4.0	1.77	10.60	0.16
WT-22-92	Assayspending
WT-22-93	255.2	255.7	0.5	4.34	44.00	0.24
	264.3	274.1	9.8	2.78	31.57	0.48
including	273.4	274.1	0.7	10.05	140.00	1.90
	281.1	284.3	3.2	1.22	18.66	0.23
	305.3	306.0	0.7	1.04	1.97	0.81
	316.7	319.4	2.7	1.29	13.59	0.16
	330.3	331.1	0.8	4.91	11.30	0.13
	337.6	341.5	3.9	2.06	21.44	0.28
WT-22-94	126.1	127.7	1.6	1.16	9.56	0.22
	191.0	208.0	17.0	2.34	18.35	0.61	0.027
	213.0	214.5	1.5	1.51	10.95	0.62
	217.6	238.9	21.3	3.28	26.16	0.76	0.038
	245.0	246.3	1.3	1.73	14.85	0.53
Within	191.0	246.3	55.3	2.16	17.15	0.54	0.024
WT-22-95	Assayspending
WT-22-96	Assayspending

Page 20

Hole ID	From	To	Width	Cu	Ag	Au
WT-22-97	Assayspending
WT-22-98	Assayspending
WT-22-99	Assayspending
WT-22-100	Assayspending
WT-22-101	Assayspending
WT-22-102	Assayspending
WT-22-103	Assayspending
WT-22-104	Assayspending
WT-22-105	Assayspending
WT-22-106	Assayspending
WT-22-107	Assayspending
WT-22-108	Assayspending
WT-22-109	Assayspending
WT-22-110	Assayspending
WT-22-111	Assayspending
WT-22-112	Assayspending
WT-22-113	Assayspending
WT-22-114	Assayspending
WT-22-115	Assayspending
WT-22-116	Assayspending
WT-22-117	Assayspending
WT-22-118	Assayspending
WT-22-119	Assayspending
WT-22-120	Assayspending
WT-22-121	Assayspending
WT-22-122	Assayspending
WT-22-123	Assayspending
WT-22-124	Assayspending
WT-22-125	Assayspending
WT-22-126	Assayspending
WT-22-127	Hole inprogress
WT-22-128	Hole inprogress
GE-21-01	200.4	202.0	1.6	0.02	0.50	0.91
GE-21-02	Assays received – interpretation inprogress
GE-21-03	236.8	258.0	21.2	0.11	1.86	1.88
including	250.0	258.0	8.0	0.20	3.79	3.80
and	236.8	244.0	7.2	0.09	0.83	1.26
GE-21-04	Assays received – interpretation inprogress
GE-21-05	Assays received – interpretation inprogress
GE-21-06	Assays received – interpretation inprogress
GE-21-07	Assays received – interpretation inprogress
GE-21-08	Assays received – interpretation inprogress
GE-21-09	Assays received – interpretation inprogress
GE-21-10	Assays received – interpretation inprogress
GE-21-11	Assays received – interpretation inprogress
GE-21-12	Assays received – interpretation inprogress
GE-21-13	Assays received – interpretation inprogress

*Reported at 0.6% Cu cut-off

a Result just below reporting cut-off included for completeness and relevance b Below detection

Page 21

Attachment 2

JORC Code, 2012 Edition – Table 1

Section 1 Sampling Techniques and Data

==> picture [202 x 59] intentionally omitted <==

Criteria	JORC Code explanation	Commentary
Sampling	• Nature and quality of sampling (eg cut channels, random chips, or	•Diamond drilling. Nominal sampling interval of 3m adjusted as
techniques	specific specialised industry standard measurement tools appropriate	required for local geological conditions. Core was sawn and half-core
	to the minerals under investigation, such as downhole gamma	was crushed, pulverised and split to produce a representative sample
	sondes, or handheld XRF instruments, etc). These examples should	for assaying.
	not be taken as limiting the broad meaning of sampling.	•For WT-series drilling, samples returning weighted average Cu ≥ 1%
	• Include reference to measures taken to ensure sample representivity	are reported in the announcement. Wider intercepts are reported
	and the appropriate calibration of any measurement tools or systems	using a 0.6% Cu cut-off.
	used.	•For GE-series drilling, samples returning weighted average Au ≥
	• Aspects of the determination of mineralisation that are Material to the	0.5g/t are reported in the announcement.
	Public Report.	•Visual results presented are based on geological observations, and
	• In cases where ‘industry standard’ work has been done this would be	for WT-series drilling consider the copper content of different sulphide
	relatively simple (eg ‘reverse circulation drilling was used to obtain 1	species at a 0.6% Cu nominal cut-off
	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	•Diamond drilling completed by Boart Longyear using an LF-90 drill
techniques	blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple	rig.
	or standard tube, depth of diamond tails, face-sampling bit or other	•Core is HQ3 and PQ3
	type, whether core is oriented and if so, by what method, etc).	•Downhole deviation surveys are performed approximately every
		30.5m (100 feet)
		•The core is oriented with a Boart Longyear TruecoreTMsystem to
		allow measurement of structural information.
Drill sample	• Method of recording and assessing core and chip sample recoveries	•Core recoveries are recorded by the drillers at the rig and verified by
recovery	and results assessed.	Company’s personnel during core logging
	• Measures taken to maximise sample recovery and ensure	•To maximise sample recovery and core quality drilling is performed
	representative nature of the samples.	with a “triple tube” set up where two splits are inserted in the barrel to
	• Whether a relationship exists between sample recovery and grade	minimize core displacement and core loss.
	and whether sample bias may have occurred due to preferential	•No relationship has been determined between sample recoveries and
	loss/gain of fine/coarse material.	grade.
Logging	• Whether core and chip samples have been geologically and	•A quick log is completed on site and detailed logging is performed at
	geotechnically logged to a level of detail to support appropriate	the Company’s facility in Tucson.

Page 22

Criteria	JORC Code explanation	Commentary
	Mineral Resource estimation, mining studies and metallurgical	•Logging is both qualitative and quantitative in nature. Portable XRF
	studies.	and magnetic susceptibility measurements are taken at regular
	• Whether logging is qualitative or quantitative in nature. Core (or	intervals on the core.
	costean, channel, etc) photography.	•Core is photographed after mark-up, before sampling, wet and dry
	• The total length and percentage of the relevant intersections logged.	•100% of the relevant intersections is logged.
Sub-sampling	• If core, whether cut or sawn and whether quarter, half or all core	•The core is sawn in half by ALS Minerals or Skyline Assayers and
techniques	taken.	Laboratories at their Tucson facilities. Half of the core is bagged and
and sample	• If non-core, whether riffled, tube sampled, rotary split, etc and	sent for assaying while the other half is left in the core box for future
preparation	whether sampled wet or dry.	reference.
	• For all sample types, the nature, quality and appropriateness of the	•Commencing with drill hole WT-21-74, holes are cut using a
	sample preparation technique.	Company-owned automatic core saw. Half of the core is bagged and
	• Quality control procedures adopted for all sub-sampling stages to	sent for assaying while the other half is left in the core box for future
	maximise representivity of samples.	reference.
	• Measures taken to ensure that the sampling is representative of the in	•A cut line is drawn by a geologist to guide sawing and sampling of
	situ material collected, including for instance results for field	intervals where sample bias might occur (e.g. mineralised vein at
	duplicate/second-half sampling.	small angle to core axis)
	• Whether sample sizes are appropriate to the grain size of the material	•ALS Minerals or Skyline Assayers and Laboratories conducted all
	being sampled.	preparation work: samples were weighed, dried, crushed and crushed
		to better than 70% passing 2mm; sample was split with a riffle splitter
		and a split of up to 250g pulverised to better than 85% passing 75µm.
		•Duplicates are used to assess the sampling representativeness.
		When duplicates are collected the core is quartered: one quarter is
		sent to the laboratory as the primary sample, the other quarter is sent
		to the laboratory as the duplicate and the remaining half of the core is
		left in the box for future reference
		•Sample sizes are considered appropriate to the grain size of the
		material being sampled
Quality of	• The nature, quality and appropriateness of the assaying and	•ALS Minerals assay methods: ME-MS61 (48 element four acid ICP-
assay data	laboratory procedures used and whether the technique is considered	MS) and Au-AA23 (Au 30g charge Fire Assay with Atomic Absorption
and	partial or total.	finish). The technique is considered a near total digest of relevant
laboratory	• For geophysical tools, spectrometers, handheld XRF instruments, etc,	minerals. Above detection samples are re-assayed with Au-GRA21,
tests	the parameters used in determining the analysis including instrument	Ag-OG62, Cu-OG62, Pb-OG62, Zn-OG62
	make and model, reading times, calibrations factors applied and their	•Skyline Assayers and Laboratories methods: TE-5 (47 element multi
	derivation, etc.	acid digestion with ICP-MS) and FA-01 (Au Fire Assay with Atomic
	• Nature of quality control procedures adopted (eg standards, blanks,	Absorption finish). The technique is considered a near total digest of
	duplicates, external laboratory checks) and whether acceptable levels	relevant minerals.
	of accuracy (ie lack of bias) and precision have been established.	•Certified Reference Material (CRM), blanks and duplicates were
		inserted/collected at a ratio of 1:10 with a minimum of 1 CRM per
		assays batch. CRMs are inserted at intervals never exceeding 20
		samples. Acceptable levels of accuracy and precision have been

Page 23

Criteria	JORC Code explanation	Commentary
		established.
		•At the time of reporting the Company is investigating several assay
		results pertaining to one CRM and one blank which returned values
		outside the acceptable thresholds. While the investigation could result
		in changes to some of the assay values included in this ASX
		announcement, it is expected that these changes will not be material.
		•Before releasing results from geological observations (e.g. visual
		mineralisation), the Company adopts the following QA/QC
		procedures:
		o Core is dispatched to the laboratory and cut. Samples are
		bagged, crushed and pulverised (sample preparation)
		o After sample preparation is finalised, a sub-sample is returned to
		the Company while assays are being completed at the laboratory
		o Returned sub-samples are analysed with the Company’s portable
		XRF instrument
		o Portable XRF readings are compared with the visual logs
		o Visual results are approved for release to the market
Verification of	• The verification of significant intersections by either independent or	•Significant intersections have been verified by Company’s Principal
sampling and	alternative company personnel.	Geologist
assaying	• The use of twinned holes.	•No twinned holes reported
	• Documentation of primary data, data entry procedures, data	•Logging and sampling data are collected using tablet computers and
	verification, data storage (physical and electronic) protocols.	Logchief software to ensure data integrity. The data is transferred
	• Discuss any adjustment to assay data.	weekly to the Datashed database after further data validation by the
		database manager
		•No assay adjustment performed
Location of	• Accuracy and quality of surveys used to locate drill holes (collar and	•NAD83 Arizona State Plane Central (International feet). Data is
data points	down-hole surveys), trenches, mine workings and other locations	presented in NAD83 UTM Zone 12N (meters)
	used in Mineral Resource estimation.	•National Elevation Dataset. Horizontal resolution of approximately
	• Specification of the grid system used.	10m and vertical resolution of 1m
	• Quality and adequacy of topographic control.	•Drill holes are located with a hand-held GPS with an estimated
		horizontal accuracy of ±5m. Collar location is subsequently recaptured
		using a DGPS system with an estimated accuracy of ±0.5m
Data spacing	• Data spacing for reporting of Exploration Results.	•The data spacing of the new drilling results reported is insufficient to
and	• Whether the data spacing and distribution is sufficient to establish the	establish the degree of geological and grade continuity appropriate
distribution	degree of geological and grade continuity appropriate for the Mineral	for Mineral Resource estimation
	Resource and Ore Reserve estimation procedure(s) and
	classifications applied.
	• _Whether sample compositing has been applied. _

Page 24

Criteria	JORC Code explanation	Commentary
Orientation of	• Whether the orientation of sampling achieves unbiased sampling of	•The relationship between drilling orientation and orientation of key
data in	possible structures and the extent to which this is known, considering	mineralised structures is yet to be determined
relation to	the deposit type.
geological	• If the relationship between the drilling orientation and the orientation
structure	of key mineralised structures is considered to have introduced a
	sampling bias, this should be assessed and reported if material.
Sample	• The measures taken to ensure sample security.	•Core boxes are collected at the drill rig by Company personnel and
security		transported to the Tucson logging facility. After logging the core is
		delivered by Company personnel to ALS Minerals’ Tucson facilities
		for cutting, sampling, sample preparation and assaying.
Audits or	• The results of any audits or reviews of sampling techniques and data.	•No audits or reviews of sampling techniques have been completed.
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 Oracle Ridge Mine Project (Project) is located in the Marble
tenement and	agreements or material issues with third parties such as joint	Peak area, approximately 30 kilometres by air northeast of Tucson,
land tenure	ventures, partnerships, overriding royalties, native title interests,	Arizona, U.S.A. It is located in Sections 17, 18, 19 and 20 of
status	historical sites, wilderness or national park and environmental	Township 11 South, Range 16 East, Gila and Salt River Base and
	settings.	Meridian of the U.S. cadastral system. The geographical coordinates
	• The security of the tenure held at the time of reporting along with	are approximately Latitude 32º28' North, Longitude 110º41' West.
	any known impediments to obtaining a licence to operate in the	•The Project is 100% owned by Eagle Mountain Mining Ltd through its
	area.	Arizona subsidiaries Wedgetail Operations LLC (100%) and
		Wedgetail Holdings LLC (100%).
		•The Project consists of four main areas: Oracle Ridge, OREX,
		Golden Eagle and Red Hawk
		Oracle Ridge (including historical Tailings Storage Facility)
		•Oracle Ridge comprises 57 Patented Mining Claims and 45
		Unpatented Mining Claims within the Coronado National Forest
		(United States Forest Service).
		•100% of the mineral rights starting from 15.2m (50 feet) below
		surface are owned by Wedgetail Operations LLC
		•In 2009, the surface rights for the area necessary for potential mining
		access (e.g. portals), processing facilities and offices have been
		secured by an industrial property lease. Under the agreement,
		Wedgetail Operations LLC leases the surface rights to theproject for

Page 25

Criteria	JORC Code explanation	Commentary
		the purpose of carrying out its exploration, potential development and
		mining. The lease has an initial term of three years and is renewable
		for nine additional extensions of three years each.
		•A separate surface access agreement is in place to allow access to
		drill sites and drill pads construction.
		•The mineral rights of Patented Claims at Oracle Ridge are likely to
		have a reversionary interest to Marble Mountain Ventures, which
		occurs on 18 February 2025, unless the Company exercises its
		Extension Option upon which the Company’s interests in the mineral
		rights are extended to 18 February 2040.
		•There is a 3% net smelter returns royalty on the future sale of any
		metals and minerals derived from the Oracle Ridge mine.
		OREX
		•The OREX area is covered by 93 Unpatented Mining Claims within
		the Coronado National Forest (United States Forest Service).
		•100% of the mineral rights are owned by Wedgetail Operations LLC
		•The OREX area is also partly covered by Patented Mining Claims
		controlled by Pima County. The Company has an agreement in place
		for non-ground disturbing exploration work to occur on Pima County’s
		Patented Mining Claims. The Company does not currently control the
		Mineral Rights over Pima County’s claims
		Golden Eagle
		•The Golden Eagle area is covered by 3 Patented Mining Claims and
		32 Unpatented Mining Claims within the Coronado National Forest
		(United States Forest Service).
		•100% of the mineral rights are owned by Wedgetail Operations LLC
		•The Golden Eagle area is also partly covered by Patented Mining
		Claims controlled by Pima County. The Company has an agreement
		in place for non-ground disturbing exploration work to occur on Pima
		County’s Patented Mining Claims. The Company does not currently
		control the Mineral Rights over Pima County’s claims
		Red Hawk
		•The Red Hawk area is covered by 24 Unpatented Mining Claims
		within the Coronado National Forest (United States Forest Service).
		•100% of the mineral rights are owned by Wedgetail Operations LLC
		•The land tenure is secure at the time of reporting and there are no
		known impediments to obtaining permits to operate in the area.

Page 26

Criteria	JORC Code explanation	Commentary
Exploration	• Acknowledgment and appraisal of exploration by other parties.	Oracle Ridge
done by other parties		•The Oracle Ridge Mining District was discovered in 1873. In 1881, an 18 tonne per day copper smelter was erected at nearby Apache
		Camp. The ore for this smelter was supplied from the Hartman,
		Homestake, Leatherwood, Stratton, Geesman and other small mines
		in the area.
		•Phelps Dodge Copper Company (Phelps Dodge) entered the District
		in 1910 and undertook considerable development and exploration
		work.
		•Continental Copper, Inc began exploring in the District in the 1950s.
		Continental leased the property in 1968 with an option to purchase
		and undertook a large exploration and development program. This
		was the first time there was a large scale assessment of the
		mineralisation.
		•Union Miniere began a new exploration program in April 1980. In
		1984, a feasibility study for an 1,814 short ton per day operation was
		completed.
		•In October 1988, South Atlantic Ventures acquired Union Miniere's
		interest and entered into a 70-30 partnership with Continental to
		develop the mine. Minproc Engineers Inc. was contracted to
		supervise the confirmatory metallurgical test work. A detailed design
		was started in November 1989 on a column flotation plant.
		Construction of the facility commenced in April 1990 and the first ore
		was processed through the plant on March 3, 1991. The capacity of
		the mill was initially set at 771 short ton per day. The mill capacity
		was later expanded to approximately 1,000 short ton per day.
		•The mine closed in 1996. Production records show that
		approximately 1,200,000 short tons were milled since
		commencement of the operation.
		•Between 2009 and 2015 the project was owned by Oracle Ridge
		Mining, a TSX-V listed company, which drilled approximately 130
		surface and underground holes.
		Golden Eagle
		•Small scale mining occurred in the Golden Eagle area in the first half
		of the 1900s focussed on gold. The largest operation was the
		Sanderson Mine. The mine is part of the Golden Eagle mineralised
		system but is located outside the Company’s landholding. It reported
		smelter returns between 1936 and 1941 averaging 0.4 Oz/short ton
		Au (13.7 g/t Au), 0.65 Oz/ton Ag (22.3 g/t Ag) and 0.46% Cu (small
		tonnage).

Page 27

Criteria	JORC Code explanation	Commentary
		•Oracle Ridge mining conducted exploration at Golden Eagle in the
		mid-1990s. A geophysical magnetic survey was flown over the area.
		Few magnetic anomalies, postulated to be magnetite-rich skarn were
		tested by reconnaissance drilling. Results were not deemed
		sufficiently encouraging and no further drilling was conducted in the
		area.
		OREX
		•Details of historical (pre-1980s) exploration and mining activities in
		the OREX area are not known. Few small-scale workings were found
		during mapping.
		•In 1980 a Joint Venture between Gulf Minerals Corporation and W.R.
		Grace Company completed mapping of the area and drilled 7 holes.
		Results of the program were reviewed by Oracle Ridge Mining
		Partners and summarised in an internal communication in 1992.
		Red Hawk
		•No historical exploration nor mining activities are known for the Red
		Hawkarea
Geology	• Deposit type, geological setting and style of mineralisation.	•The deposit is classified as copper dominated skarn. Minerals
		representative of both prograde and retrograde skarn development
		are present, the former being represented by diopside and garnets,
		the latter by epidote, magnetite and chlorite.
		•Copper dominated mineralisation generally contain chalcopyrite and
		bornite. The deposits are most commonly associated with Andean-
		type plutons intruded in older continental-margin carbonate
		sequences. The associated intrusive rocks are commonly porphyritic
		stocks, dikes and breccia pipes of quartz diorite, granodiorite, monzo-
		granite and tonalite composition, intruding carbonate rocks,
		calcareous-volcanic or tuffaceous rocks. The deposits shapes vary
		from stratiform and tabular to vertical pipes, narrow lenses, and
		irregular zones that are controlled by intrusive contacts.
		•The copper rich skarn deposits at Oracle Ridge are found in
		conformable lens along the contact with the Leatherwood
		Granodiorite or associated with faults and shear zones which
		intersect the Leatherwood. These have acted as feeders into the
		reactive carbonate horizons. The latter can form a “Christmas Tree”
		type shape.
Drill hole	• A summary of all information material to the understanding of the	•See body of announcement including Attachment 1.
Information	exploration results including a tabulation of the following information

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Criteria	JORC Code explanation	Commentary
	for all Material drill holes:
	o easting and northing of the drill hole collar
	o elevation or RL (Reduced Level – elevation above sea level in
	metres) of the drill hole collar
	o dip and azimuth of the hole
	o down hole length and interception depth
	o hole length.
	• If the exclusion of this information is justified on the basis that the
	information is not Material and this exclusion does not detract from
	the understanding of the report, the Competent Person should
	_clearly explain why this is the case. _
Data	• In reporting Exploration Results, weighting averaging techniques,	•For WT-series drilling, exploration results are reported as weighted
aggregation	maximum and/or minimum grade truncations (eg cutting of high	averages of assays equal or above a 1% copper cut-off. Lower grade
methods	grades) and cut-off grades are usually Material and should be	intersections are reported as weighted averages of assays equal or
	stated.	above a 0.6% copper cut-off. Intersections start and end at a sample
	• Where aggregate intercepts incorporate short lengths of high grade	at or exceeding the specified cut-off.
	results and longer lengths of low grade results, the procedure used	•For GE-series drilling, exploration results are reported as weighted
	for such aggregation should be stated and some typical examples	averages of assays equal or above a 0.5g/t gold cut-off. Intersections
	of such aggregations should be shown in detail.	start and end at a sample at or exceeding the specified cut-off.
	• The assumptions used for any reporting of metal equivalent values	•No metal equivalents reported
	_should be clearly stated. _
Relationship	• These relationships are particularly important in the reporting of	•All intervals reported are down hole length. True widths are not
between	Exploration Results.	known at this stage.
mineralisation	• If the geometry of the mineralisation with respect to the drill hole
widths and	angle is known, its nature should be reported.
intercept lengths	• If it is not known and only the down hole lengths are reported, there
	should be a clear statement to this effect (eg ‘down hole length, true
	_width not known’). _
Diagrams	• Appropriate maps and sections (with scales) and tabulations of	•See body of announcement
	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. _
Balanced	• Where comprehensive reporting of all Exploration Results is not	•All exploration results obtained so far have been reported.
reporting	practicable, representative reporting of both low and high grades
	and/or widths should be practiced to avoid misleading reporting of
	_Exploration Results. _
Other	• Other exploration data, if meaningful and material, should be	•No other meaningful and material exploration data beyond this and
substantive	reported including (but not limited to): geological observations;	previous ASX announcements by the Company
exploration data	geophysical survey results; geochemical survey results; bulk
	samples – size and method of treatment; metallurgical test results;
	bulkdensity, groundwater, geotechnical and rock characteristics;

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Criteria	JORC Code explanation	Commentary
	_potential deleterious or contaminating substances. _
Further work	• The nature and scale of planned further work (eg tests for lateral	•Further work will include interpretation of logging and assay results
	extensions or depth extensions or large-scale step-out drilling).	when they become available. Additional drill holes will be completed
	• Diagrams clearly highlighting the areas of possible extensions,	at Oracle Ridge in the coming weeks.
	including the main geological interpretations and future drilling
	_areas, provided this information is not commercially sensitive. _

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