EAGLE MOUNTAIN MINING LIMITED — Regulatory Filings 2020

Dec 21, 2020

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A S X A n n o u n c e m e n t | 2 2 D e c e m b e r 2 0 2 0

11.55% Cu, 273 g/t Ag and 5.41 g/t Au over 1.5m in Breccia in drill hole WT-20-10 at Oracle Ridge

• The above intercept, at 348.7m downhole starts a 13.3m thick zone averaging: o 2.43% Cu, 52.6 g/t Ag and 0.94 g/t Au

• 45m overall diluted mineralised zone from 317m averages 1.33% Cu, 25.0 g/t Ag and 0.38 g/t Au

• Hole WT-20-10 intercepted some of the highest-grade copper, gold and silver encountered in all drilling at Oracle Ridge

• These breccia occurrences illustrate the potential for a deeper porphyry system below the Leatherwood granitic intrusive

• Drilling in January 2021 re-prioritised to target the new discovery zones of high-grade brecciaveins encountered in holes WT-20-10 and WT-20-06

Eagle Mountain Mining CEO, Tim Mason, commented:

“These exceptional assay results and style of mineralisation further underpins our belief in the potential for a larger mineralised system at Oracle Ridge. The discovery of these breccia zones in drillholes WT20-06 and WT-20-10 is a major milestone in our understanding of the larger system that feeds the skarn. The high-grade breccia zone in hole WT-20-10 appears to cut through the Leatherwood granitic intrusive near the contact with the limestone skarns. Breccia zones have the potential to run deep and the very high-grade nature of mineralisation encountered thus far set these breccias as priority exploration targets. We are excited for drilling to resume in early January after the Christmas break.”

Eagle Mountain Mining Managing Director, Charlie Bass, also comments:

“Intrusive breccias often act as ore guides in many districts as a result of their close association of these features with ore due to hydrothermal activity along structural zones, such as faults and dikes. These breccias are often pipe-like but could be up to 500m in depth or 100’s of metres in strike and dip dimensions. Not all breccias are necessarily mineralised, but in our case the two different breccias encountered in drill holes WT-20-06 and WT-20-10 in the vicinity of a possible larger fault system is very encouraging and points towards a deeper mineralising system that could sit below the Leatherwood granitic intrusive.

Eagle Mountain Mining Limited ( ASX:EM2 ) (“ Eagle Mountain ”, the “ Company ”) is pleased to announce assay results from its recently commenced drilling program at the Company’s 80% owned Oracle Ridge Mine Project (“Oracle Ridge”) in Arizona, USA.

Assay results from WT-20-10 have been received and are reported in this announcement.

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Table 1 – Summary of reported significant intersections at a 1% Cu Cut-off

Hole ID	From	To	Width	Cu	Ag	Au
	[m]	[m]	[m]	[%]	[g/t]	[g/t]
WT-20-10	319.3	321.0	1.7	3.98	42.1	0.71
	328	332	4.0	1.75	26.38	0.37
	343	344	1.0	4.89	132	0.47
	348.7	362	13.3	2.43	52.6	0.94
Including	348.7	350.2	1.5	11.55	273	5.41

The above intercepts also fall within a broader zone of mineralisation as follows:

Table 2 – Overall Mineralised Zone at a 0.6% Cu Cut-off

Hole ID	From	To	Width	Cu	Ag	Au
	[m]	[m]	[m]	[%]	[g/t]	[g/t]
WT-20-10	317.1	362	44.9	1.33	25.01	0.38

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Breccia and high-grade Breccia hosted mineralisation in
mineralisation in hole WT-20-06 * hole WT-20-10
2.95m at 6.76% Cu, 63.5g/t Ag and 1.5m at 11.55% Cu, 273g/t Ag and
0.87g/t Ag 5.41g/t Au within a broader zone of
45m at 1.33% Cu, 25g/t Ag and
0.38g/t Au
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Figure 1 – Summary of currently completed and planned drillholes (See announcement dated 18 November 2020 for details on hole WT-20-06)

WT-20-10

WT-20-10 tested the eastern extension of the mineralised zone of 15.1m @ 1.72% Cu, 16.87g/t Ag, 0.38g/t Au recently encountered in hole WT-20-05 at the Leatherwood-skarn contact.

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Prospectivity for a deeper copper-bearing system has improved as a result of veins and breccias crosscutting the Leatherwood granitic intrusive, suggesting that some of the copper ore emplaced occurred after the Leatherwood was formed. For approximately 45m from 317m downhole, visual disseminated copper mineralisation was observed including high-grade veins and breccias up to 1.5m thick (Figure 2).

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Massive bornite
Breccia with
bornite matrix
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Figure 2 – High-grade bornite-chalcopyrite mineralisation hosted by a vein-breccia within the Leatherwood intrusive (Hole WT-20-10, 349m downhole depth). This interval assayed 11.55% Cu, 273 g/t Ag and 5.41 g/t Au.

Eagle Mountain’s quality control procedures flagged the assay results of two standard samples outside of normally accepted variance. Due to the size and variability in assays for the mineralised zone, the Company will hold discussions with the well-regarded assay laboratory that has been doing the assaying. Re-analysis of some or all of these samples may be required. If required, re-analysis is not expected to have a material impact on the values reported, in particular for the higher grade samples.

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Figure 3 – Cross section showing location of WT-20-10 which observed mineralisation in veins and breccias up to 1m thick, cross cutting the Leatherwood from 317m for 45m. Also WT-20-11 and WT-20-05 with significant intercepts.

Table 3 - Summary table of drill holes at Oracle Ridge

Hole ID	Easting	Northing	Elevation	Dip	Azimuth	Depth
	[m]	[m]	[m]	[◦]	[◦]	[m]
WT-20-01	524771	3593296	1908	50	080	73.2
WT-20-02	524771	3593296	1908	47	030	326.7
WT-20-03	524437	3593062	2102	62	235	335.3
WT-20-04	524513	3592882	2105	58	267	377.3
WT-20-05	524507	3592571	2096	55	191	401.4
WT-20-06	524507	3592571	2096	47	210	369.1
WT-20-07	524507	3592571	2096	45	235	342.3
WT-20-08	524507	3592571	2096	63	210	198.4
WT-20-09	524506	3592570	2096	63	210	334.7
WT-20-10	524507	3592571	2096	55	170	398.2
WT-20-11	524507	3592571	2096	50	194	370.9
WT-20-12	524507	3592571	2096	45	198	413.6
WT-20-13	524574	3592664	2090	45	250	396.2
WT-20-14	524513	3592882	2105	65	270	371.2
WT-20-15	524513	3592882	2105	60	250	367.9
WT-20-16	524437	3593062	2102	55	248	n/a

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Table 4 - Summary table of significant intersection at Oracle Ridge during 2020 drill program

Hole ID	From	To	Width	Cu	Ag	Au
	[m]	[m]	[m]	[%]	[g/t]	[g/t]
WT-20-01	Hole abandoned
WT-20-02	No Significant Intersection(NSI)
WT-20-03	184	187.18	3.18	1.80	20.30	0.12
	192.43	193.87	1.44	1.47	13.25	0.08
	197.13	201.06	3.93	1.43	11.25	0.14
WT-20-04	184.94	189.5	4.56	5.28	50.70	0.77
Including	186.28	187.21	0.93	13.05	127.00	0.32
	236.95	238.61	1.66	1.44	11.05	0.16
	289	290.9	1.9	1.33	17.20	0.19
	293.96	297.61	3.65	1.96	19.38	0.16
WT-20-05	313.9	329	15.1	1.72	16.87	0.38
Including	313.9	317.35	3.45	1.89	15.97	0.35
Including	321.29	329.7	8.41	2.46	25.09	0.56
WT-20-06	210	249	39	1.17	10.26	0.23
Including	210	212.95	2.95	6.76	63.51	0.87
Including	218.29	219.2	0.91	2.61	20.80	0.59
Including	225.37	234.62	9.25	1.19	9.51	0.21
Including	245.43	249	3.57	2.18	19.49	0.89
WT-20-07	264.56	265.81	1.25	1.09	5.04	0.09
	269.02	272.6	3.58	1.35	5.12	0.08
	311.67	312.39	0.72	1.55	13.15	0.32
WT-20-08	Hole abandoned
WT-20-09	175.29	178.14	2.85	1.38	10.85	0.17
	260	264.77	4.77	1.21	13.05	0.20
WT-20-10	319.3	321.0	1.7	3.98	42.1	0.71
	328	332	4	1.75	26.38	0.37
	343	344	1	4.89	132	0.47
	348.7	362	13.3	2.43	52.6	0.94
Including	348.7	350.2	1.5	11.55	273	5.41
WT-20-11	275.23	276.58	1.35	9.14	52.5	0.69
	285.59	294	8.41	2.80	18.75	0.61
Including	285.59	291	5.41	3.56	23.54	0.81
WT-20-12	Assayspending
WT-20-13	Assayspending
WT-20-14	Assayspending
WT-20-15	For Submission
WT-20-16	Completingdrilling

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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.

EAGLE MOUNTAIN MINING LIMITED

Eagle Mountain is a copper-gold explorer focused on the strategic exploration and development of highly prospective greenfields and brownfields projects 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 developments through our website and social media channels

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Website https://eaglemountain.com.au/

Twitter https://twitter.com/eagle_mining

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

Page 6 of 12

JORC Code, 2012 Edition – Table 1

Section 1 Sampling Techniques and Data

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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 down hole 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.	•Samples returning Cu ≥ 1% are reported in the announcement
	• Include reference to measures taken to ensure sample representivity	•Wider intercepts are reported using a 0.6% Cu cut-off
	and the appropriate calibration of any measurement tools or systems	•Intercepts are reported as weighted averages
	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 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 size.
	type, whether core is oriented and if so, by what method, etc).	•Downhole deviation surveys are performed 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.
	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 onthe core.

Page 7 of 12

Criteria	JORC Code explanation	Commentary
	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 at their Tucson facility. Half
techniques	taken.	of the core is bagged and sent for assaying while the other half is left
and sample	• If non-core, whether riffled, tube sampled, rotary split, etc and	in the core box for future reference.
preparation	whether sampled wet or dry.	•ALS Minerals conducted all preparation work: samples were weighed,
	• For all sample types, the nature, quality and appropriateness of the	dried, crushed and crushed to better than 70% passing 2mm; sample
	sample preparation technique.	was split with a riffle splitter and a split of up to 250g pulverised to
	• Quality control procedures adopted for all sub-sampling stages to	better than 85% passing 75µm.
	maximise representivity of samples.	•Duplicates are used to assess the sampling representativeness.
	• Measures taken to ensure that the sampling is representative of the in	When duplicates are collected the core is quartered: one quarter is
	situ material collected, including for instance results for field	sent to the laboratory as the primary sample, the other quarter is sent
	duplicate/second-half sampling.	to the laboratory as the duplicate and the remaining half of the core is
	• Whether sample sizes are appropriate to the grain size of the material	left in the box for future reference
	being sampled.	•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), Hg-MS42 (trace Hg by ICP-MS) and Au-AA23 (Au 30g charge
and	partial or total.	Fire Assay with Atomic Absorption finish). The technique is
laboratory	• For geophysical tools, spectrometers, handheld XRF instruments, etc,	considered a near total digest of relevant minerals Above detection
tests	the parameters used in determining the analysis including instrument	samples are re-assayed with Au-GRA21, Ag-OG62, Cu-OG62, Pb-
	make and model, reading times, calibrations factors applied and their	OG62, Zn-OG62
	derivation, etc.	•Certified Reference Material (CRM), blanks and duplicates were
	• Nature of quality control procedures adopted (eg standards, blanks,	inserted/collected at a ratio of 1:10 with a minimum of 1 CRM per
	duplicates, external laboratory checks) and whether acceptable levels	assays batch. CRMs are inserted at intervals never exceeding 20
	of accuracy (ie lack of bias) and precision have been established.	samples. Acceptable levels of accuracy and precision have been
		established.
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 resolutionofapproximately

Page 8 of 12

Criteria	JORC Code explanation	Commentary
	• 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
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. _
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 is located in the Marble Peak area,
tenement and	agreements or material issues with third parties such as joint	approximately 30 kilometres by air northeast of Tucson, Arizona,
land tenure	ventures, partnerships, overriding royalties, native title interests,	U.S.A. It is located in Sections 17, 18, 19 and 20 of Township 11
status	historical sites, wilderness or national park and environmental	South, Range 16 East, Gila and Salt River Base and Meridian of the
	settings.	U.S. cadastral system. The geographical coordinates are
	• The security of the tenure held at the time of reporting along with any	approximately Latitude 32º28' North, Longitude 110º41' West.
	known impediments to obtaining a licence to operate in the area.	•The Oracle Ridge mine is 100% owned by Wedgetail Operations, an
		Arizona limited liability corporation controlled by Eagle Mountain
		Mining Ltd and its subsidiaries (80%) and Vincere Resource Holdings
		LLC (20%)
		•The project consists of 57 patented mining claims covering
		approximately 364 hectares,143hectares ofprivateland and405

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Criteria	JORC Code explanation	Commentary
		hectares of unpatented claims. The project has been recently
		expanded with the staking of 105 unpatented mining claims over two
		prospects named OREX and Red Hawk
		•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 the project for
		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
		•100% of the mineral rights are owned by Wedgetail Operations LLC
		•There is a 3% net smelter returns royalty on the future sale of any
		metals and minerals derived from the project.
		•The land tenure is secure at the time of reporting and there are no
		known impediments to obtaining permits to operate in the area.
Exploration	• Acknowledgment and appraisal of exploration by other parties.	•The Oracle Ridge Mining District was discovered in 1873. In 1881, an
done by other		18 tonne per day copper smelter was erected at nearby Apache
parties		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 throughthe plant on March3,1991. The capacity of

Page 10 of 12

Criteria	JORC Code explanation	Commentary
		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 ton were milled since commencement of 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
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 later 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 later can form a “Christmas Tree”
		type shape.
Drill hole	• A summary of all information material to the understanding of the	•See body of announcement
Information	exploration results including a tabulation of the following information
	for all Material drill holes:
	o easting and northing of the drill hole collar
	o elevation or RL (Reduced Level – elevation above sea level in
	metres) of the drill hole collar
	o dip and azimuth of the hole
	o down hole length and interception depth
	o hole length.
	• If the exclusion of this information is justified on the basis that the
	information is not Material and this exclusion does not detract from
	the understanding of the report, the Competent Person should clearly
	explain why this is the case.

Page 11 of 12

Criteria	JORC Code explanation	Commentary
Data	• In reporting Exploration Results, weighting averaging techniques,	•Exploration results are reported as weighted averages of samples
aggregation	maximum and/or minimum grade truncations (eg cutting of high	with Cu≥1%. If a up to two samples with Cu<1% are shouldered by
methods	grades) and cut-off grades are usually Material and should be stated.	samples with Cu≥1%, the former samples are included in the
	• Where aggregate intercepts incorporate short lengths of high grade	weighted average calculations.
	results and longer lengths of low grade results, the procedure used	•The broader intersection of 44.93m @ 1.33% Cu is reported using a
	for such aggregation should be stated and some typical examples of	0.6% Cu cut-off and includes lower grade mineralisation in the
	such aggregations should be shown in detail.	weighted average
	• 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	• If it is not known and only the down hole lengths are reported, there
lengths	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 reported	•No other meaningful and material exploration data beyond this and
substantive	including (but not limited to): geological observations; geophysical	previous ASX announcements by the Company
exploration	survey results; geochemical survey results; bulk samples – size and
data	method of 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	•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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