ECLIPSE METALS LIMITED. — Capital/Financing Update 2021

Mar 9, 2021

ECLIPSE METALS LTD (ASX:EPM)

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10[th] March 2021

ASX Announcement

EXTENSIVE HIGH GRADE CRYOLITE-FLUORITE MINERALISATION DELINEATED BELOW IVITTUUT PIT

Highlights

• High Grade cryolite-fluorite zones beneath Ivittuut Pit delineated using 3D modelling based on analysis of historical diamond drilling.

• Thick high grade envelops of cryolite-fluorite mineralisation beneath the pit floor derived from historic laboratory reports have been verified with plan and section plots. Significant intersections include:

• Drill Hole 110 - 10.4m @ 15.0% cryolite and 45.9% fluorite from 11.20m

• Drill Hole 129 - 10.7m @ 55.0% cryolite and 22.1% fluorite from 29.54m

• o Drill Hole 141 - 16.2m @ 24.5% cryolite and 39.0% fluorite from 22.0m

• Drill Hole 149 - 18.0m @ 17.4% cryolite and 42.4% fluorite from 18.0m

• Drill Hole 162 - 10.7m @ 18.6% cryolite and 33.9% fluorite from 18.88m

• Drill Hole 167 - 10.0m @ 14.0% cryolite and 56.8% fluorite from 19.0m

• Drill Hole 185 - 11.6m @ 41.2% cryolite and 30.3% fluorite from 15.4m

• o Drill Hole 189 - 20.0m @ 31.8% cryolite from 18.60m

• Exploration Target defined for Ivittuut Open Pit (Table 2) - outlines the lower and upper limits for the mineralised cryolite-fluorite-iron-zinc domains.

• Cryolite-Fluorite mineralised area is a circular feature measuring approximately 200m in diameter developed immediately below the base and lower edges of the open pit.

• The modelled domain representing in-situ mineralisation immediately below the open pit averages 6m, ranging between 4m and 25m true thickness. At the lower corners of the pit the domain bulges to thickness of up to 30m.

• Eclipse has digitised a total of 169 diamond drill holes representing over 8,100m of drilling within and around the pit. Approximately 19,000m of historical diamond drill core remains untested for rare earth mineralisation (fluorite zone at Ivittuut is known to contain REE mineralisation).

Eclipse Metals Ltd (ASX: EPM ) ( Eclipse Metals or the Company ) is pleased to announce results of its ongoing evaluation of definitive historical exploration and analytical data for the Ivittuut open pit reported by independent mining consultants Outokumpu Oy. The results demonstrate additional mineralisation within the historical Ivittuut mine environment. Data compilation, 3D geological and mineralisation modelling of historical exploration data from the Ivittuut deposit indicate substantial economic potential within and surrounding the pit.

The Ivittuut Project (sometimes called Ivigtut) is known as the world’s largest and only mine from which cryolite was historically produced for use in the extraction of aluminium from bauxite (alumina) ore.

Mining commenced in 1855 continued until 1987 through various stages of production. A total of 3.8 million tonnes of ore was mined with an average grade of 58% cryolite. Diamond drilling was first carried out between 1912 and 1915, some 53 years after commencement of mining. The mine area was then redrilled in 1919 when the first efforts were made to evaluate the deposit. Further detailed drilling programs were

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carried out between 1948 and 1958 with the view of establishing the geological boundaries to the existing deposit. In 1985 further drilling programs were aimed to locate additional cryolite ore within the pit area.

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Figure 1: 3D Oblique Image showing the Interpreted Domains 1 and 2 (with the Decline and Underground Workings)

WORK COMPLETED

Much of the historical data for the Ivittuut Deposit sourced in open file reports from the GEUS portal required digitisation. Eclipse has also relied heavily on geological maps, assay data and cross sections from the previous operators of the Ivittuut mine.

The historic data, comprising paper cross sections and plans that contain both lithological and analytical data, were reviewed and digitised to form a 3D database. This review indicated the data are reliable and methods used were appropriate to the industry standards of that time.

Eclipse Metals Ltd Executive Chairman Mr Carl Popal commented:

“Building on the long mining history of the Ivittuut Cryolite Mine providing strategically important minerals, Eclipse Metals has now shown there is substantial potential for development of additional industrial mineral resources which are in demand by the expanding green economy, particularly in the European market.

The true thickness of the mineralised zones highlights the potential for future mining beneath the pit walls and floor. The depth extensions of mineralisation have exceeded our expectations with potential upside for further mineralisation within the zinc and quartz zones.

We are confident that with more assaying of the drill core, the zinc mineral volume and grades could be increased as there is a close association between the iron and zinc values. During the course of

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exploration by the previous owners, base metal mineralisation was never a target commodity hence little work was completed.”

DRILL HOLE DATA

In all, Eclipse has recorded data from 169 diamond drill holes for over 8,100m of drilling. Analytical data associated with each hole has been digitally captured to form a database.

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Figure 2: Historical Drillhole Location Map with Fluorite Grade Distribution (background)

Analytical data comprise the following intervals. Each sample interval averaged 3m in length. Cryolite: 488 intervals Fluorite: 520 intervals Iron/siderite: 535 intervals Zinc: 162 intervals

The data was derived from laboratory analytical reports contained within 108 pages of GEUS Report 20241 and verified with historic cross sections and plans. Significant drill intersections derived from digitising the historic analytical data within the pit are shown in Table 1. All drilling results are presented in Appendix A.

Table 1: Significant Drill Intersections >10% cryolite (fluorite is reported within intervals defined by

						**cryolite) **
Hole Id	North	East	RL (m)	Total Depth (m)	Dip	Azimuth	From (m)	To (m)	Interval (m)	Cryolite %	Fluorite %
106	1086	975	-58	24.2	-90	0	12.4	23.5	11.1	12.9	50.5
108	1086	976	-64	24.1	-90	0	13.2	23.0	9.8	12.2	55.4

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Hole North East RL Total Dip Azimuth From To Interval Cryolite Fluorite
Id (m) Depth (m) (m) (m) (m) % %
110 1096 997 -58 25.0 -90 0 11.2 21.6 10.4 15 45.9
129 1201 935 -52 42.7 0 144 29.5 40.2 10.7 55.7 22.1
141 1104 1004 -56 112.7 -30 324 22.0 38.2 16.2 24.5 39
142 1085 994 -58 102.9 -90 0 14.4 25.7 11.3 11.4 44.5
147 1122 1012 -58 52.7 -30 324 23.4 31.9 8.5 59.9 15.7
149 1092 1002 -58 39.7 -90 0 18.0 36.0 18 17.4 42.4
155 1142 1019 -58 28.1 0 324 13.4 21.0 7.6 81.8 13.6
167 1157 878 -55 36.3 -30 144 19.0 29.0 10 14 56.8
185 1077 944 -59 45.2 -60 234 15.4 27.0 11.6 41.2 30.3
186 1077 981 -59 32.2 -30 324 17.5 27.1 9.6 52.6 14.8
189 1077 988 -55 54.4 40 324 18.6 38.6 20 31.8 1.8
191 1166 881 -54 32.7 -30 144 10.8 19.4 8.6 18.1 70.4
194 1064 971 -54 45.1 30 324 6.5 14.9 8.4 48.8 0.7
194 1064 971 -54 45.1 30 324 7.0 33.5 26.5 15.6 <0.01
201 1024 917 9 82.3 -53 54 54.2 73.3 19.1 24.1 0.7
15_85 1129 883 -66 31.0 -90 0 0.0 9.0 9 12.7 52.8
J3 1090 929 -58 172.6 -54 234 13.5 29.8 16.3 13.2 59.6
J8 1236 989 -19 206.7 -45 144 4.0 11.2 7.2 62.3 8
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Figure 3: Summary of Significant Cryolite/Fluorite Drill Intersections with Grade Distribution in the Pit (background)

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Figure 4: Plan view of the Pit showing Cross Section (S11) and Long Section (A20)

The analytical data was reviewed in 3D and formed the basis of geological modelling. Cryolite and fluorite mineralisation occur together and this association is more pronounced with an increase in grade (Figure 3). There is also a strong association between zinc and iron which is more pronounced below the cryolite zone. Minor cryolite and fluorite is associated with the iron and zinc zone.

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Figure 5: Cross Section outlining Drill Grades within Interpreted Domains 1 & 2

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Figure 6: Long Section outlining Drill Grades within Interpreted Domains 1 & 2

GEOLOGICAL MODELLING

Geological domains were developed to represent the two mineral associations:

Domain D1: Cy-Fl (cryolite and fluorite) Domain D2: Fe-Zn (iron and zinc)

Domain 1 is a circular feature measuring approximately 200m in diameter, developed immediately below the base and lower edges of the open pit. The modelled domain represents in-situ mineralisation that could be accessed from the pit.

Immediately below the open pit this domain averages 6m, ranging between 4m and 25m true thickness. At the lower corners of the pit the domain bulges out to a thickness of up to 30m (Figure 7).

Domain 2 is an essentially flat to shallow southwest-dipping tabular body located directly beneath Domain 1. Under the central part of the pit the vertical separation between Domain 1 and Domain 2 is approximately 25m. Towards the pit perimeter the two zones intersect (Figure 7). The Exploration Target (Table 2) results are based on actual Exploration Results which included a total of 169 diamond drill holes representing over 8,100m of drilling within and around the historic pit. The assay data used are in excess over 2,000 analytical results.

Table 2: Exploration Target reported by Mineral Domains

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Range Mineral Cut Off Tonnage Grade
(%) (t) %
Exploration Target - Lower Cryolite in Domain 1 0 870,300 16.0
Exploration Target - Upper Cryolite in Domain 1 0 916,200 17.7
Exploration Target - Lower Cryolite in Domain 1 10 680,900 18.4
Exploration Target - Upper Cryolite in Domain 1 10 716,800 20.4
Exploration Target - Lower Cryolite in Domain 1 20 268,400 25.8
Exploration Target - Upper Cryolite in Domain 1 20 282,500 28.6
Exploration Target - Lower Fluorite in Domain 1 (at 10% Cy cut off) 0 163,300 18.3
Exploration Target - Upper Fluorite in Domain 1 (at 10% Cy cut off) 0 171,900 20.3
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Range Mineral Cut Off Tonnage Grade
(%) (t) %
Exploration Target - Lower Fluorite in Domain 1 (at 20% Cy cut off) 20 55,900 39.6
Exploration Target - Upper Fluorite in Domain 1 (at 20% Cy cut off) 20 58,800 43.8
Exploration Target - Lower Fe in Domain 2 0 924,200 27.5
Exploration Target - Upper Fe in Domain 2 0 966,900 30.3
Exploration Target - Lower Zn in Domain 2 0 63,600 1.5
Exploration Target - Upper Zn in Domain 2 0 66,600 1.7
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Cautionary Statement: The potential quantity and grade of the Exploration Targets is conceptual in nature. There has been insufficient exploration work conducted to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. The Exploration Target has been prepared based on actual exploration results described in this report including historical drilling data and geological modelling. The specific gravity (SG) measurements are listed below:

SG	**Lower **	**Upper **
Domain 1	2.85	3.00
Domain 2	3.25	3.40

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Figure 7: Cross section and 3D views of mineral domains

Distribution of grade within the domains is shown in Figure 8. In Domain 1, it can be seen that cryolite grades increase towards the perimeter of the pit. The grade of fluorite is highest towards the southwest half of the pit.

There is evidence of limited underground extraction below the northern part of the pit. These working appear to have focused on a zone of higher-grade zinc that was developed beneath the cryolite-fluorite zone (Figure 7). Material volumes, depleted using the pit surface, were derived for both mineral domains (refer to Table 2).

Zinc mineralisation within Domain 2 is considered to have a very close association with occurrence of siderite (iron carbonate). Historical drilling campaigns only assayed for base metals to a limited extent with little work focusing on potential zinc mineralised lodes. Some of the drilling has yielded high grade base

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metals values such as 1.7% Cu, 18.2% Zn and 7.7% Pb (Appendix C) hosted within the iron (siderite) mineralised lode. Most of the zinc mineralisation is hosted within >30% Fe rich zones and remains largely untested. From the 8,100m drilled, only 162 assays were conducted for base metals as cryolite was the primary focus for all exploration drill programs.

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Figure 8: Distribution of Cryolite-Fluorite-Iron-Zinc Grades within the Domains

Most of the zinc mineralisation is hosted within >30% Fe rich zones remains untested.

Forward Strategy

Subject to COVID restrictions, the Company will be looking into commencement of activities to calculate a JORC Code compliant resource estimate at the Ivittuut project at the earliest opportunity. Initial steps are to re-log, re-split where possible, sample and assay existing mineralised core with a view to preparing a JORC Code 2012 compliant resource estimation during this calendar year. The Company will implement QA/QC methods along with geotechnical studies. Further, Eclipse will seek more recent data while working on the extensive geological and GIS database over the Project area and surrounds. Drill core assays for the quartz zones beneath the mineralised cryolite-fluorite geological domains are currently being assembled. Additional grade and density verification will enable calculation of a resource estimate based on geological modelling completed to date. Further updates will be announced to the market when all interpretations have been completed.

Authorised for release by the Board

Carl Popal Executive Chairman

Pedro Kastellorizos Non-Executive Director

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www.eclipsemtals.com.au

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eclipsemetals

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EclipseMetals

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Competent Persons Statement

The information in this report / ASX release that relates to Exploration Results and Exploration Targets is based on information compiled and reviewed by Mr. Alfred Gillman, Director of independent consulting firm, Odessa Resource Pty Ltd. Mr. Gillman, a Fellow and Chartered Professional of the Australasian Institute of Mining and Metallurgy (the AusIMM) and has sufficient experience relevant to the styles of mineralisation under consideration and to the activity being reported to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Gillman consents to the inclusion in this report / ASX release of the matters based on information in the form and context in which it appears. Additionally, Mr Gillman confirms that the entity is not aware of any new information or data that materially affects the information contained in the ASX releases referred to in this report.

The Competent Person does not consider the current data to be sufficiently verified to enable a classified resource estimate. The estimated volumes of the mineral domains are based on historical analytical data and are thus indicative only. Additional work programs, including site visits, resampling of drill core and representative bulk density determination, are required to prior to the estimation and reporting of a classified resource as defined by the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC) 2012.

Forward Statement

This news release contains “forward-looking information” within the meaning of applicable securities laws. Generally, any statements that are not historical facts may contain forward-looking information, and forward looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget” “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or indicates that certain actions, events or results “may”, “could”, “would”, “might” or “will be” taken, “occur” or “be achieved.” Forwardlooking information is based on certain factors and assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities, commodity prices, the estimation of initial and sustaining capital requirements, the estimation of labour costs, the estimation of mineral reserves and resources, assumptions with respect to currency fluctuations, the timing and amount of future exploration and development expenditures, receipt of required regulatory approvals, the availability of necessary financing for the project, permitting and such other assumptions and factors as set out herein.

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: risks related to changes in commodity prices; sources and cost of power and water for the Project; the estimation of initial capital requirements; the lack of historical operations; the estimation of labour costs; general global markets and economic conditions; risks associated with exploration of mineral deposits; the estimation of initial targeted mineral resource tonnage and grade for the project; risks associated with uninsurable risks arising during the course of exploration; risks associated with currency fluctuations; environmental risks; competition faced in securing experienced personnel; access to adequate infrastructure to support exploration activities; risks associated with changes in the mining regulatory regime governing the Company and the Project; completion of the environmental assessment process; risks related to regulatory and permitting delays; risks related to potential conflicts of interest; the reliance on key personnel; financing, capitalisation and liquidity risks including the risk that the financing necessary to fund continued exploration and development activities at the project may not be available on satisfactory terms, or at all; the risk of potential dilution through the issuance of additional common shares of the Company; the risk of litigation.

Although the Company has attempted to identify important factors that cause results not to be as anticipated, estimated or intended, there can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Forward looking information is made as of the date of this announcement and the Company does not undertake to update or revise any forward-looking information this is included herein, except in accordance with applicable securities laws

About Eclipse Metals Ltd (ASX: EPM)

Eclipse Metals Ltd is an Australian exploration company focused on exploring South-western Greenland, Northern Territory and Queensland for multi commodity mineralisation. Eclipse Metals Ltd has an impressive portfolio of assets prospective for cryolite, fluorite, siderite, quartz (high purity silica), REE, gold, platinum group metals, manganese, palladium, vanadium and uranium mineralisation. The Company’s mission is to increase shareholders’ wealth through capital growth and ultimately dividends. Eclipse Metals Ltd plans to achieve this goal by exploring for and developing viable mineral deposits to generate mining or joint venture incomes.

REFERENCES

The below documents are all classified as open file reports which can be downloaded from the internet

The following references have been cited in this report: -

Bondam, J. 1991: The Ivigtut cryolite deposit in South Greenland. Short note on recent geoscientific developments. GEUS Open File Series Report No.21339, Grønlands Geologiske Undersøgelse 91/4, 29 pp.

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J Gothenborg (1990), Platinova Resources Ltd, Report on the Cryolite Exploration at Ivittuut, South Greenland, Special emphasis on the ore potential of broken low-grade fill-materials (GEUS open file report 20516)

Kryolitselskabet Oresund A/S (1987) The Planning of the Ivigtut Open Pit of Kryolitselskabet Oresund A/S - Mining of the Flouritic Orebody”; Outokompu OY Mining Consultants GEUS Report File No. 20236

Kryolitselskabet Oresund A/S (1986) The Planning of the Ivigtut Open Pit of Kryolitselskabet Oresund A/S – Report of the First Phase, Investigation of the Quantity and Quality of Extractable Ore from the Ivigtut Open Pit”; Outokompu OY Mining Consultants GEUS Report File No. 20238

Kryolitselskabet Oresund A/S (1987) De Resterende Mineralreserver I Kryolitforekomsten Ved Ivigtut,GEUS Report File No. 20335

Kryolitselskabet Oresund A/S (1985) Lodighedsdistribution I, Ivigtut Kryolitbrud GEUS Report File No. 20241

GEUS Report File No. 21549 (1962) “Ivigtut Survey Report, 1962”

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APPENDIX A: COLLAR FILE IVITTUUT DRILLING

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Local Local RL Total Local Local RL Total
Hole Id East North (m) Depth Dip Azimuth Hole Id East North (m) Depth Dip Azimuth
101 1157.4 876.9 -52 28.02 0 144 146 1122.4 1011.2 -59.5 55.3 -90 0
102 1155.3 880 -55.2 100 -90 0 147 1121.9 1012 -58 52.7 -30 324
103 1137.2 871.1 -52.5 19.2 0 144 148 1122.3 1011.5 -55.9 29.9 0 324
104 1136.2 872.6 -54 22.1 -90 0 149 1092.1 1002.4 -57.7 39.7 -90 0
105 1083.8 979.1 -58 100 -90 0 150 1156 1000.5 -56.7 40.9 -90 0
106 1085.8 974.9 -58 24.2 -90 0 151 1155.2 1001.3 -57.7 84.8 -30 54
107 1082.7 972.4 -68.9 100 -90 0 152 1157.5 1001.8 -58.1 51.8 0 54
108 1086.4 975.5 -64 24.1 -90 0 153 1145.6 1013.1 -58.8 40.9 -90 0
109 1094.8 998.7 -56.5 39.7 -35 324 154 1144.6 1014.8 -58.2 54.1 -30 324
110 1095.8 997.3 -58 25 -90 0 155 1142.1 1018.5 -58 28.1 0 324
111 1096.8 885.4 -67.3 100 -90 0 156 1145.9 993.4 -58.7 34.6 -90 0
112 1115.1 885.6 -54 100 -90 0 157 1149.3 973.3 -58.9 32 -90 0
113 1130.6 872 -53 17.2 0 234 158 1122.2 977.4 -58 38.8 -90 0
114 1082.3 947.6 -57.4 26.6 -90 0 159 1140.7 1013.8 -58.2 112.4 -45 54
115 1085.4 949.9 -58.3 22.4 -90 0 160 1144.6 1016.7 -58 50.1 0 54
116 1107.5 892 -65 100 -90 0 161 1134.2 960.7 -57.5 40.6 -90 0
117 1109 893.2 -54 23.2 -90 0 162 1080.9 983.4 -59 117.1 -60 324
118 1170.4 893.8 -52.8 32.9 0 144 163 1079.2 985.3 -57 24.3 0 324
119 1169.6 894.2 -54 31.83 -60 144 164 1098.5 958.6 -58 16.8 -90 0
120 1098.1 910 -57 26 -90 0 165 1110.4 942.2 -59 103 -90 0
121 1099 910.6 -58.5 16.62 -60 234 166 1122 926.9 -59 12.9 -90 0
122 1194.6 978.9 -52.3 19.8 -45 324 167 1156.5 878.3 -54.5 36.3 -30 144
123 1194.6 978.9 -50.8 64.02 0 324 168 1132.7 911.3 -56 20.7 -90 0
124 1197.8 973.8 -52.6 25.1 -45 144 169 1155.4 914.1 -55.5 15.3 -90 0
125 1197.8 973.8 -50.5 57.2 0 144 170 1158.2 927.6 -59 100 -90 0
126 1213.4 987.8 -48.2 46.44 10 324 171 1173.9 939.9 -58.9 29.4 -90 0
127 1217.7 982 -48.1 37.8 20 144 172 1146.3 944.4 -55.2 50.4 -90 0
128 1217.9 980.4 -49.9 14.5 -45 144 173 1130.1 932 -63 5.2 -90 0
129 1201.3 935.1 -52 42.7 0 144 174 1112.2 956.3 -59 14.5 -90 0
130 1199.3 938.6 -54 21.98 -90 0 175 1108.8 978.9 -58 13.9 -90 0
131 1190.2 917 -51.5 22.82 10 144 176 1112.3 1007.8 -55.2 31.6 0 324
132 1177.7 900.4 -51.9 28.7 20 144 177 1112.2 1007.8 -56.7 42 -30 324
133 1176.8 901.7 -52.8 21.84 -90 0 178 1125 990.1 -57.7 27.2 -90 0
134 1082.3 923.1 -57.4 22.7 0 234 179 1073.5 965.8 -58.2 23.9 -60 234
135 1191.5 1026.2 -51.8 38.6 0 234 180 1140.1 867 -53.9 15.24 -45 144
136 1191.6 1026.4 -53 26.2 -45 234 181 1128.1 870.3 -54.3 19.8 -40 234
137 1200.9 1019.9 -0.6 43.3 -90 0 182 1184.2 959 -54.4 10.21 -90 0
138 1201.1 1020.2 -0.2 43.4 -90 0 183 1178.5 967.4 -54.5 8.2 -90 0
139 1202 1003.1 -33.1 42.5 -40 324 184 1192.2 914.2 -54.5 6.39 -90 0
140 1103.1 1003.8 -56 32 0 324 186 1077 980.6 -58.5 32.2 -30 324
141 1103.6 1003.6 -56.4 112.7 -30 324 187 1068.5 962.6 -58 21.1 -20 234
143 1084.3 995.6 -57.6 68 -30 324 188 1051.7 989.7 1.2 89.6 -80 144
144 1084.1 995.9 -56.5 29.9 0 324 189 1077.4 988.1 -55 54.4 40 324
145 1087.5 991.2 -58.4 34 -90 0 190 1167.4 880 -52 24.8 25 144
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Local Local RL Total Local Local RL Total
Hole Id East North (m) Depth Dip Azimuth Hole Id East North (m) Depth Dip Azimuth
191 1166.4 881.4 -53.6 32.7 -30 144 29_85 1164.6 888.7 -59.2 40.2 -90 0
192 1063.7 973 -52.5 57 49 324 30_85 1130.5 910.4 -55.5 14.5 -90 0
193 1070.9 980.3 0 100 -90 0 31_85 1125.5 905 -65 20.1 -90 0
194 1063.8 971.3 -53.5 45.1 30 324 32_85 1153.1 899.9 -61.5 34.2 -90 0
195 1064.3 972.3 -67.9 100 -90 0 33_85 1163.7 956.9 -58.5 34.3 -90 0
196 1175.7 885.8 -52.1 19.6 20 144 34_85 1141.4 916.4 -62.4 39.7 -90 0
197 1090.7 1004 -59 37.9 45 324 35_85 1185.9 923.5 -59 39.2 -90 0
198 1087 992 -57 46.4 45 324 36_85 1169.2 911.9 -56.9 36.7 -90 0
199 1183.6 892.3 -51.2 25 20 144 37_85 1212.3 933.5 -54.5 35.2 -90 0
200 1190.2 899.6 -52.2 25 30 144 38_85 1220.7 942.1 -53.9 35.3 -90 0
201 1023.8 917.3 8.9 82.3 -53 54 39_85 1178.9 997.5 -62.4 21.4 -90 0
202 1029.8 893.3 10.5 70.6 -49 54 40_85 1166.4 984.5 -63.1 25.1 -90 0
1_85 1153.8 912.4 -58.4 12.1 -90 0 41_85 1169.7 1010.2 -62.7 24.9 -90 0
2_85 1114.2 938.1 -65.5 11.7 -90 0 42_85 1157.8 928.3 -59 49 -90 0
3_85 1143.6 879.7 -64.8 11.6 -90 0 43_85 1173.9 939.9 -56 28 -90 0
4_85 1153.9 949.7 -60 50.3 -90 0 44_85 1190.1 950.9 -59.1 5.8 -90 0
5_85 1143.9 978.1 -64 31 -90 0 1_86 1061.2 895.6 9.2 100 -90 0
6_85 1169.7 930.2 -58.7 49.2 -90 0 2_86 1054.2 902.8 8.6 100 -90 0
7_85 1184.7 907.2 -54 33.9 -90 0 3_86 1040.6 905.4 9.3 100 -90 0
8_85 1130.5 933.2 -63.2 25.6 -90 0 10_86 1061.2 895.6 9.2 102.6 -90 0
9_85 1121.8 927.7 -59 21.2 -90 0 11_86 1054.2 902.8 8.6 98.4 -90 0
10_85 1114.1 924.1 -66 21.9 -80 54 12_86 1040.6 905.4 9.3 104.8 -90 0
11_85 1138.4 938.7 -65 44.5 -78 54 13_86 1036.5 914.9 8 111.4 -90 0
12_85 1105.8 915.7 -68 26.3 -68 54 14_86 1040.3 930.2 6.8 100.6 -90 0
13_85 1145.7 944 -56 46.45 -69 54 15_86 1039.6 929.7 6.9 39.3 -90 0
14_85 1145 894.3 -63.5 36.8 -70 54 16_86 1045.6 949.6 3.7 64.3 -90 0
15_85 1128.7 883 -65.7 31 -60 54 16_86A 1045.6 949.6 3.7 94.6 -90 0
16_85 1093.7 931.7 -71 16.8 -74 54 17_86 1051 990.5 1.3 89.6 -90 0
17_85 1103.5 938.6 -67.5 25.1 -77 144 18_86 1052 1006.6 1.8 58.8 -90 0
18_85 1090.2 953.5 -69.8 6.6 -71 144 18_86A 1052 1006.6 1.8 100.4 -90 0
19_85 1100.6 973 -68.4 35.6 -90 0 20_86 1044 1016.5 2.3 100 -90 0
20_85 1103 986.7 -69.7 32.4 -80 0 21_86 1047.5 1012.6 2.8 100 -90 0
21_85 1119 998.5 -71 28.1 -90 0 22_86 1047.8 1012.1 2.8 95.2 -90 0
22_85 1114.5 970.9 -62 34.4 -80 144 23_86 1050.2 991.8 1.3 82.3 -90 0
23_85 1126.4 954.8 -66.8 42 -84 324 24_86 1050.5 991 1.3 89.6 -90 0
24_85 1135 993.9 -66.1 31.9 -87 144 J3 1090 928.6 -58.2 172.6 -54 234
25_85 1130.6 982.3 -65.2 28.4 -90 0 J7 1220.8 976.6 -20.3 172.6 -45 144
26_85 1142.7 966.3 -62 42.3 -90 0 J8 1236.1 989.2 -19 206.7 -45 144
27_85 1156.5 878.6 -64 29.5 -90 0 J9 1225.4 1004.7 -26.8 112.7 -40 324
28_85 1137.1 888.8 -65 48 -90 0
----- End of picture text -----

12

ECLIPSE METALS LTD (ASX:EPM)

APPENDIX B: IVITTUUT DRILL ASSAYS (Cryolite/Fluorite/Iron)

==> picture [505 x 659] intentionally omitted <==

----- Start of picture text -----

From To Cryolite Fluorite Fe From To Cryolite Fluorite Fe
Hole Id Hole Id
(m) (m) % % % (m) (m) % % %
101 22.4 24.3 70.7 7.9 0.6 119 23.1 26.1 0.6 6.5 34
101 24.3 26.89 31.6 35.8 0.3 119 26.1 28.6 0.1 4.8 30.4
101 26.89 28.02 4.6 10.2 0.7 119 28.6 31.83 1.6 1.5 28.8
103 13.6 15.08 25.6 45.5 120 22.8 24.64 22.9 29.6 1.4
103 15.08 16.5 5 48 0.2 121 12.8 14.34 16.4 37.7 0.6
103 16.5 17.4 4.2 51.7 0.2 121 14.34 16.62 10.8 68.4 0.2
103 17.6 19.19 1.5 8.5 0.5 122 14 17.3 2.9 49 2.5
104 11 14.6 18.4 47.9 0.5 123 56.6 57.95 14.4 37.6
104 14.6 17 12.3 51.9 0.1 123 57.95 59.19 0.6 18.5 11
104 17 19.26 19.1 34.8 0.2 123 59.19 61.3 0.7 20.2 0.6
106 12.43 16.17 11.4 38.2 0.8 123 61.3 64.02 1.8 4.2 1.2
106 16.17 20.2 14.9 60.4 0.2 124 13 14.82 20.7 4.4 21
106 20.2 23.48 12.2 52.3 0.2 124 14.82 17.7 1.8 4.3 38.3
108 12.35 13.24 5.2 30.9 1.2 124 17.7 20.85 0.1 5.5 40.5
108 13.24 16.15 11.2 60 0.4 124 20.85 25.07 0.3 14.7 33.7
108 16.15 19.23 10.3 60.3 0.2 125 54.5 57.16 5.5 14.1 7.9
108 19.23 23.01 14.6 47.9 0.1 126 34.1 37.76 9.7 0.3 9.2
109 23.8 24 80 3 126 37.76 41.92 7.9 1.1 12
109 24 27.85 8.3 40.9 0.5 126 41.92 43.23 0.4 35.1 11
109 27.85 31.94 3 41.7 0.7 126 43.23 46.44 1.5 5.7 0.5
110 11.2 14.4 13.7 26.1 0.6 127 5 6.3 38 1.5 12.1
110 14.4 17.75 12.9 57.7 0.2 127 6.5 8.78 48 0.6 11
110 17.75 21.59 17.8 52 0.1 127 8.78 10.4 80.3 0.6 7.5
112 13.5 16.35 7.4 52.2 0.2 127 10.4 11.92 61.6 0.6 14.7
112 16.35 20.38 9.2 46.6 0.2 127 11.92 14.2 10.1 1.2 5.9
113 14.1 17.2 9.1 3.4 1.2 127 14.2 14.9 76.8 0.4 5.9
115 10.7 13.8 11.7 54.2 0.2 129 29.54 31.48 70.1 17.3 0.1
115 13.8 17.4 17.7 54.9 0.2 129 31.48 32.86 91.4 0.5 0.1
115 17.4 21.54 8.2 57.1 0.1 129 32.86 34.81 32.4 42.4 0.1
117 12.7 16.15 9.8 78.3 129 34.81 35.97 98.4 0.9 0.1
117 16.15 21.26 13.4 53.5 0.2 129 35.97 38.28 41.8 22.4 0.3
118 15 18.6 13.5 23.7 5 129 38.28 40.19 29.7 34.4 0.3
118 18.6 22.2 11.5 33 2.6 129 40.19 42.68 3 1.9 0.4
118 22.2 25.8 6.6 36.1 2.6 130 5 8.03 33
118 25.8 28.2 6.1 44.2 0.7 130 8.03 11.03 40.5
118 28.2 30.77 11.8 38.4 0.7 130 11.03 14 41.3
119 4.6 9.22 8.8 46.7 2.3 130 14 17 40.5
119 9.22 13 1.8 56.3 3.9 130 17 19.56 36.4
119 13 16.6 0.1 56.9 7.5 130 19.56 21.98 0.3
119 16.6 20.2 3.1 66.7 0.7 131 20.2 22.82 5.7 7.5 3.9
119 20.2 23.1 2.7 67.3 1.2 132 17.1 18.75 2 6.3 2.2
----- End of picture text -----

13

ECLIPSE METALS LTD (ASX:EPM)

==> picture [505 x 706] intentionally omitted <==

----- Start of picture text -----

From To Cryolite Fluorite Fe From To Cryolite Fluorite Fe
Hole Id Hole Id
(m) (m) % % % (m) (m) % % %
132 18.75 21.85 3.8 6.4 25 145 13.3 14.69 10.5 74.4 0.1
132 21.85 25.45 3.2 5.5 1.6 145 14.69 16.95 11 61.7 0.2
132 25.45 28.66 6.7 7.1 1 145 16.95 19.16 0.6 3.6 9.7
133 1.6 4.6 14.8 33.3 2.7 145 19.16 22.1 2 10.4 32.3
133 4.6 7.95 5.5 52.7 0.8 145 22.1 25 1.4 2 40.7
133 7.95 11 0.2 9.9 35 145 25 30.5 0.6 2.3 35.7
133 11 14.5 2.3 4 39 146 11 13.74 6.8 23.6 0.8
133 14.5 18 2.1 4.7 41.4 146 13.74 16.69 0.9 2.7 26.5
133 18 21.84 3.2 1.9 39.8 146 16.69 18.62 1.7 1.1 38.2
134 15 17 16.2 1.2 1.3 146 18.62 20.2 0.5 33.4 17.3
134 17 19.45 36.6 1.6 1.4 146 20.2 23.5 0.1 3.1 30.7
134 19.45 22.36 63.3 4 0.5 146 23.5 26 2 0.4 29.6
139 17 20.05 15.3 0.9 7.7 146 26 27.9 0.8 2.2 30.7
139 20.05 23.2 19 0.8 15 146 27.9 30.86 0.3 0.7 23.9
139 23.2 26.3 12.9 0.7 19.6 146 30.86 34.31 0.6 0.3 26.1
139 26.3 28.5 5.1 4.1 27 146 34.31 36.84 0.8 2.2 18.1
139 28.5 31.3 1.1 3 33.6 147 23.4 31.94 59.9 15.7
139 31.3 34.12 1.5 39.8 13.1 147 31.94 38.07 8 61.3
139 34.12 36.22 1 8.6 8.5 147 38.07 40.6 2.6 13.5 1.1
139 36.22 39.33 1.2 28 20.3 147 40.6 44.2 2.1 8.1 2.5
139 39.33 41.96 2.2 7.8 2.6 147 44.2 47.27 4.5 62.7
140 25 26 4.6 42.7 1.1 149 18 21.6 21.9 30.9 0.4
140 26 29.1 0.4 8.7 2.6 149 21.6 25.2 14.3 25.1 0.7
140 29.1 31.97 2.5 4.4 1.2 149 25.2 28.62 15.5 27.7 0.5
141 22 34.12 27 30.6 149 28.62 32.4 21.9 57.4 0.2
141 34.12 38.17 17.1 64.1 0.2 149 32.4 36 13.2 69.2 0.1
141 38.17 41.14 5.1 71 0.1 149 36 38.86 5.3 41.2 0.2
141 41.14 44.34 5 65.1 0.1 150 5 7.92 0.3 6.3 35.3
141 44.34 48.2 1.5 11.3 1.7 150 7.92 12.3 2.1 2.5 34.6
141 48.2 49.67 1.9 20.8 1.4 150 12.3 15.4 2.3 8.3 30.1
142 14.4 18 10.8 29.4 0.7 150 15.4 17.85 0.2 3.1 24.6
142 18 21.6 11.6 38.4 0.5 150 17.85 19.75 0.5 0.6 22
142 21.6 25.68 11.8 63.1 0.2 153 9 12.07 1.8 4.5 42
143 19 22.6 28.7 23.2 1.1 153 12.07 15.02 1.3 9.5 38
143 22.6 26.2 18.1 24.4 0.5 153 15.02 17.87 0.6 9 38
143 26.2 29.8 14.6 47.1 0.2 153 17.87 20.95 0.8 4.1 38.4
143 29.8 33.4 16.9 28.4 0.6 153 20.95 24.96 0.1 5.9 26.3
143 33.4 37 4.1 14.6 0.6 154 13.5 15.89 31.7 0.5 29.9
143 37 40.6 7.9 22.8 0.5 154 15.89 17.64 9 33.7 7.7
143 40.6 44.2 10.9 71.7 154 17.64 21.04 2.6 6.5 41.7
143 44.2 46.58 4.3 68.6 0.8 154 21.04 25 3.4 4 42.6
144 20 22.62 21.5 3.7 1.3 154 25 28.7 4.7 5.1 40.5
144 22.62 26 3.5 7.3 0.8 154 28.7 32 2.2 3 42.1
144 26 29.58 15.5 11 0.9 154 32 35.78 2.6 1.9 42.6
----- End of picture text -----

14

ECLIPSE METALS LTD (ASX:EPM)

==> picture [505 x 706] intentionally omitted <==

----- Start of picture text -----

From To Cryolite Fluorite Fe From To Cryolite Fluorite Fe
Hole Id Hole Id
(m) (m) % % % (m) (m) % % %
154 35.78 37.92 2.3 7.2 33.1 162 35.8 39.3 4.1 61.8 0.3
155 13.36 15.55 98.4 0.6 0.2 162 39.3 41.53 3.5 72.9 0.2
155 15.55 17.44 99.6 0.2 0.06 162 45 45.41 17.4
155 17.44 19.25 99.1 0.3 0.3 162 75.36 75.72 0.6 31.6 6
155 19.25 21 24 58.1 1.1 162 75.72 76.33 20.6
155 21 23.15 2.2 15 1.4 162 77.42 79.98 5.8
155 23.15 26 2 8.2 1.1 162 79.98 82.7 2.3
155 26 28.08 2.2 4.7 1.3 162 90.07 92.16 1.7 48.2 0.8
157 3.7 5.28 8.5 4 163 17 18.22 35.2 0.1 11.4
157 5.28 8.9 15.6 32.9 0.9 163 18.22 21.36 21.5 0.1 0.8
157 8.9 12.5 14.7 22.6 1.4 163 21.36 24.25 16 0.3 1.8
157 12.5 16.37 10.4 21 0.9 164 11.25 13.75 15.8 48.5 0.2
157 16.37 19.62 0.4 5.2 15.8 165 6.8 11.59 11.2 64.7 0.1
157 19.62 22.58 0.6 0.9 15.8 165 37.5 40 0.8 1.7 39.4
157 22.58 25.58 0.7 0.6 23 165 40 42.5 1.8 4.1 36.2
157 25.58 27.92 0.8 0.7 28 166 6.2 9.4 13 48.1 0.3
157 27.92 30.7 0.2 33.6 166 9.4 11.95 6.7 61.9
158 6.6 8.6 20.1 36.6 0.8 167 19 21.8 13.8 62.7
158 8.6 12.77 7.7 21 0.4 167 21.8 25.4 11.8 54.9
158 12.77 15.86 1.3 1.1 26 167 25.4 29 16.3 54
158 15.86 18.86 0.9 1.7 28.2 167 29 32.39 3.9 76.2
158 18.86 21.57 0.6 0.4 28.8 167 32.39 36.21 1.1 48.5 8
158 21.57 24.85 3.1 1.1 29.1 168 8.3 11.4 20 50.6
158 24.85 27.86 0.4 1.1 34.1 168 11.4 14.45 4.1 58.1 0.2
158 27.86 31.3 1.5 38.2 169 2.8 8 20.7 41.1 0.7
158 31.3 34.65 1.2 1.2 35.3 169 8 12.6 11.2 32.5 1.6
158 34.65 37.7 0.5 0.2 32 171 3.8 6.8 2.3 7.6 37.1
161 5.7 8 12.6 35.7 0.7 171 6.8 10.4 3.9 11.5 24.8
161 8 10.4 15 43.1 0.5 171 10.4 12.8 0.5 4.4 32.4
161 10.4 13 3.2 30 0.6 171 12.8 15.29 0.7 3 27.7
161 13 16.6 0.2 3 19.4 172 5.3 7 17.7 58.4 0.5
161 16.6 19.6 1.2 2.7 22.3 172 7 9.75 16.2 65.9 0.3
161 19.6 22.78 0.3 1.8 17.8 172 9.75 13.6 8.7 42.7 1.5
161 22.78 26.17 1.3 0.5 30.4 173 3.6 4.68 50.2 38.4 0.2
161 26.17 29.54 0.9 1.3 20.8 173 4.68 5.17 11.1 36.7 0.9
161 29.54 33 0.3 25.8 174 8.7 10.5 22.7 49.9 0.3
161 33 37 0.6 27.2 174 10.5 11.5 1.1 32.8 3.2
161 37 40.56 0.5 0.8 25.8 174 11.5 14.5 0.7 12.6 1.6
162 16.7 18.88 175 9.94 11.94 27.9 33.2 0.2
162 18.88 21.4 16.7 20.4 0.8 176 24.8 27.82 1.9 7.7 2
162 21.4 25 14.6 29.9 0.5 176 27.82 30.5 2.9 11.5 1
162 25 29.53 22.9 44.5 0.4 176 30.5 31.5 2.9 9.5 0.8
162 29.53 32.45 4.5 79.2 0.4 177 23.2 31.14 26 35
162 32.45 35.8 2.8 54.5 0.2 177 31.14 34.64 9.6 55.8 0.8
----- End of picture text -----

15

ECLIPSE METALS LTD (ASX:EPM)

==> picture [505 x 706] intentionally omitted <==

----- Start of picture text -----

From To Cryolite Fluorite Fe From To Cryolite Fluorite Fe
Hole Id Hole Id
(m) (m) % % % (m) (m) % % %
177 34.64 37.5 15.9 63.3 0.2 190 17.8 20.34 51 2.9 7.9
177 37.5 39.7 3.1 20.7 0.8 190 20.64 24.3 6.6 4.2 2.7
177 39.7 41.99 3.4 18.4 0.7 191 10.8 15.8 16.9 71.7 0.1
178 9.4 10.25 15.8 43.4 0.1 191 15.8 19.4 19.8 68.6 0.1
178 10.25 13 1.3 4 22.8 191 19.4 21.94 3.8 75.6 2.8
178 13 16.33 5.7 31.4 191 21.94 25.6 1.6 5.3 35.7
178 16.33 19.9 4.8 31 0.1 191 25.6 29.2 9.7 34.9
178 19.9 23.5 0.4 22.1 191 29.2 32.69 1.7 16.9 31.7
178 23.5 27.2 0.7 0.6 30.4 192 6.6 10 47.6 1 1.3
179 18.4 21.4 16.6 29.8 0.8 192 10 13.6 25.6 0.5 1.9
179 21.4 23.86 10.4 35 0.6 192 13.6 20.5 20.1 1.4 1.9
180 11 13.05 44.2 32.6 0.3 192 20.5 27.48 8.9 1.7 2.2
180 13.05 15.24 16 56.8 0.1 192 27.48 34.75 12.6 3.6 2.3
181 10 12.52 85.6 6.9 0.2 194 7 9.06 11.1 1.5
181 12.52 15 44.7 31.6 0.7 194 9.06 12.77 14.3 1.8
181 15 18.52 21.2 44.2 1.1 194 12.77 16.45 27.5 1.8
182 8 10.21 7.2 30.6 194 16.45 19.08 19.3 1.9
184 1 3.53 5.2 0.6 32.2 194 19.08 33.5 12.9
184 3.53 6.39 2.9 1.1 31.8 196 7.6 10.84 53.5 0.4 8
185 15.4 16.01 67.2 19.5 0.4 196 10.84 12.1 28.3 5 14.5
185 16.01 17.95 53.6 19.4 0.5 196 12.1 14.99 25.9 7.9 10.3
185 17.95 21.11 20.5 28.3 0.8 196 14.99 17.19 18.8 3.2 2.5
185 21.11 22.6 19.9 15.8 0.4 197 24.3 29.35 4.6 5.3 2.4
185 22.6 26.97 54.4 43.1 0.4 198 26.05 27.02 54.6 2.1 1.6
185 26.97 30.05 6.4 89.3 0.1 198 27.02 30 7 5.8 2.6
185 30.05 34.46 4.1 60.6 0.2 198 30 33.05 25.6 0.2 1.8
185 34.46 37.2 2.2 76.9 0.1 198 33.05 36 36.9 1.6
185 37.2 41.49 4.5 80.5 0.1 198 36 38.95 35 2
185 41.49 44.82 3.3 42.8 0.1 198 38.95 41.8 10.6 0.4 7
186 17.5 20.6 69.7 10.9 1.5 199 5.7 7.3 0.4 19.5
186 20.6 23 33.4 26.5 0.8 199 7.3 10.3 3.9 6.8 7.8
186 23 27.1 50.8 10.9 1.4 199 10.3 13.3 1.5 5.4 8.4
186 28.28 31.15 26.2 37 0.8 199 13.3 16.3 2.9 9 2.4
187 11.5 13.13 15 199 16.3 19.3 5.2 9.3 1.4
187 13.13 15 86.5 0.1 0.1 199 19.3 22.45 17.7 9.4 1
187 15 17.8 72.6 10.9 1.6 199 22.45 25 7.7 9.4 1.1
189 18.6 22.26 51.2 1.2 1 200 7 10.25 8.6 18.5 10.2
189 22.26 25.26 22.3 1.8 2 200 10.25 11.75 5.6 5.5 1.9
189 25.26 28.69 19.8 1.6 1.6 200 11.75 14.95 11.5 33.1 4
189 28.69 31.68 37.9 0.3 1.6 200 14.95 19 5.1 7.1 0.8
189 31.68 35.1 29.9 0.4 2.3 200 19 22 16.1 9.1 1
189 35.1 38.59 28.3 5.3 1.9 200 22 25 9.8 7.1 1.2
189 38.59 40.38 1.9 3.9 2.8 201 51.18 54.15 6.8 1.1 3.3
190 14 17.8 31 14.4 6.3 201 54.15 56.59 12.4 1.1 2.7
----- End of picture text -----

16

ECLIPSE METALS LTD (ASX:EPM)

==> picture [505 x 706] intentionally omitted <==

----- Start of picture text -----

From To Cryolite Fluorite Fe From To Cryolite Fluorite Fe
Hole Id Hole Id
(m) (m) % % % (m) (m) % % %
201 56.59 60.6 30.5 0.1 1.6 17_85 2.5 5 14.3 34.5 0.2
201 60.6 63.01 17.2 1.2 2.1 18_85 0 2 16.8 56.2 0.2
201 63.01 66.1 31.7 0.9 1.6 18_85 2 4 18.4 57 0.2
201 66.1 69 23.6 0.9 1.5 18_85 4 6 15.5 44.8 0.2
201 69 71 11.3 0.5 1.3 18_85 21.25 25 2.8 2.6 41
201 71 73.25 34.2 0.6 3.5 18_85 25 28 2 2.4 37.8
202 54.85 57.45 1.5 1 3.3 18_85 28 30.15 35
202 57.45 60.3 2 1 3.4 18_85 30.15 33.6 27.5
202 60.3 64.35 19.2 0.2 3 19_85 0 2 20.4 42.3 0.4
202 64.35 67.45 7.7 0.1 2.3 19_85 2 4.4 25.5 36.2 0.3
10_85 0 2 12.5 60.5 0.2 19_85 15.1 18 2.4 3.2 41
10_85 2 4 10 75.5 0.2 19_85 18 21 2.1 1.7 42.8
10_85 4 6.45 12 57.2 0.2 19_85 21 24 0.9 3 39.4
11_85 0 2.35 21.3 43.9 0.2 19_85 24 27 1.5 4.2 33.6
11_85 2.35 4.7 4.4 74.7 0.3 19_85 27 29.6 1.1 9.5 34
11_85 4.7 6.25 5.7 50.1 0.3 19_85 29.6 31.5 0.5 5.1 13.4
11_85 32.35 36 2.2 6.1 32.2 2_85 0 3 10.4 60.7 0.4
11_85 36 38.45 1.3 0.6 32.2 2_85 3 6 7.3 65.3 0.3
11_85 38.45 40.7 1.3 1.6 26 20_85 0 2.5 26.2 44.5 0.3
11_85 40.7 41.6 4 2.7 3.1 20_85 2.5 5 23 38.2 0.2
12_85 0 3 13.4 63.2 0.1 20_85 14 16 1.9 7.6 32.9
12_85 3 5.35 18.3 22.7 0.5 20_85 16 20 2.9 2.1 42.4
13_85 0 0.55 71.6 13.9 0.5 20_85 20 22.9 1.5 2.2 39.5
13_85 0.55 3 13.2 64.5 0.3 20_85 24.38 27.95 2 29.4
13_85 3 5 12 70.1 0.2 21_85 0 1 16.5 16 1.3
13_85 20 23 2.2 2.1 31.4 21_85 9 12 31.6
13_85 23 26.5 1.5 1 29.9 21_85 12 14.2 26.3
13_85 42.1 44 2.5 17.6 21_85 18 18.8 31.6
13_85 44 44.5 1.7 1 5.4 21_85 19.3 23.1 0.1 1.3 35.5
13_85 45.95 46.45 0.7 0.7 4 21_85 23.6 26.05 0.2 0.3 27.2
14_85 0 3.3 12.5 37.6 1.1 22_85 0 1.45 6.7 47.2 1
14_85 4.9 5.9 16.4 46.9 0.1 22_85 18.75 22 2.5 1.7 33
14_85 13.8 18 1.1 1.5 27 22_85 22 25 2.6 3.2 40.6
14_85 18 21.7 5.2 24.1 22_85 25 28 2.1 1.5 42.4
14_85 26 30 18 1 30.4 22_85 28 31.7 0.1 0.4 33.8
14_85 30 33 32.8 23_85 0 2.45 3.2 75.6 0.9
14_85 33 35.7 20.5 23_85 2.45 4.9 1.4 22.7 1.6
15_85 0 3 10.1 51.3 0.5 23_85 27.5 30 0.5 6.5 15.2
15_85 3 6 11.2 66.5 0.2 23_85 30 33 1 0.4 20.3
15_85 6 9 16.8 40.7 0.3 23_85 33 36 3 4.9 25.6
16_85 0 0.3 90 23_85 36 40 1.7 4.7 21.3
16_85 0.3 3 26.5 27.1 0.2 24_85 0 2 4.9 25.8 0.9
16_85 3 6 13.9 41.7 0.1 24_85 2 4 11 26.4 1.6
17_85 0 2.5 13.3 55.3 0.2 24_85 4 6 0.3 12.4 21.9
----- End of picture text -----

17

ECLIPSE METALS LTD (ASX:EPM)

==> picture [505 x 706] intentionally omitted <==

----- Start of picture text -----

From To Cryolite Fluorite Fe From To Cryolite Fluorite Fe
Hole Id Hole Id
(m) (m) % % % (m) (m) % % %
24_85 6 9.6 16.1 7.4 1.8 29_85 0 3 11.7 47.2 1.1
24_85 9.6 11.65 0.7 27.2 8.1 29_85 3 6.5 3.8 62 1.3
24_85 11.65 16 0.9 1.6 21.5 29_85 6.5 9.4 0.2 8.2 29.4
24_85 16 20 0.8 0.4 27.4 29_85 9.4 12 2 50.8 1.6
24_85 20 24 0.8 0.2 25.4 29_85 12 14.1 0.5 12 29
24_85 24 26.45 22.3 29_85 14.1 15.75 1.4 73.8 2.8
25_85 0 1.45 4.8 34.5 13.8 29_85 15.75 20 2.4 2 40.6
25_85 1.45 4 13.1 29.4 29_85 20 24 1.6 2.7 29.9
25_85 4 6 11.3 47.8 2.8 29_85 24 28 2.5 2.6 38.1
25_85 6 8.5 5.9 26.5 15.7 29_85 28 32 1.3 0.3 29.3
25_85 8.5 10.15 1.3 5.8 23.4 29_85 32 36.4 0.2 0.3 29.6
25_85 10.15 12.4 2.8 45.7 1.1 29_85 37.1 39 1.4 0.8 18
25_85 12.4 14.55 11.4 8 3_85 0.85 3 11.8 49.6 0.3
25_85 14.55 19.6 5.3 0.8 6.9 3_85 3 6 9.3 65.7 0.2
25_85 19.6 22.7 2.8 1.3 17.7 3_85 6 8.85 17 36.1 0.3
25_85 22.7 26.8 0.6 0.9 31.8 30_85 0 2.15 21.2 57.1 0.4
26_85 0 1.55 8.9 40.3 2.3 30_85 2.15 4.65 5.7 79.7 0.5
26_85 1.55 3.8 7.4 17.8 12.5 31_85 0 3 10.2 72.7 0.4
26_85 3.8 7.15 11.1 31.5 6 31_85 3 5.35 6.2 79 0.3
26_85 7.15 10.55 6.1 34.3 4.6 32_85 0 2 9.4 37 0.9
26_85 10.55 12.7 8.9 43.4 2.3 32_85 2 4 16 56.6 0.3
26_85 12.7 15.5 1.2 1.9 16.1 32_85 4 6.8 8.5 56 0.4
26_85 15.5 20.1 0.6 2.1 18.1 32_85 9.45 10.7 3 48.9 1.8
26_85 20.1 23.3 0.4 0.7 18.6 32_85 10.7 25 N/S N/S N/S
26_85 23.3 26.4 1.5 1.2 18.8 32_85 25 28.4 2 3 34.8
26_85 27.05 29 9.1 0.9 14.8 33_85 0 1.55 18.4 37.7 1.7
26_85 29 32 0.8 29.6 33_85 1.55 4 4.3 9 20.9
26_85 32 36 0.6 20.6 33_85 4 6.55 2.8 6 26.9
27_85 0 3 22.2 57.9 0.5 33_85 6.55 9 7.7 23.1
27_85 3 6 19.9 45.2 0.8 33_85 9 12 0.1 4.7 25.1
27_85 6 10 3.6 1.9 30.7 33_85 12 14.2 19.7 23.4
27_85 10 14 7.8 1.6 38.7 33_85 14.2 18 3.9 2.3 22.4
27_85 14 18 1 2.3 33.6 33_85 18 20.3 1 26.7
27_85 18 22 2.1 2.1 26.5 33_85 20.3 24 0.3 1.8 19.5
27_85 22 26.2 0.9 2.7 28.8 33_85 24 27.9 3.1 22
27_85 26.2 28.15 0.4 37 33_85 28.2 31.6 1 25
28_85 0 2.5 10.4 59.1 0.7 34_85 0 2 8.3 73.8 0.5
28_85 2.5 5 9.9 54.3 0.6 34_85 2 4 3.4 71.7 0.3
28_85 5 7.5 3.1 57 2 34_85 4 6.65 1.9 76.6 0.8
28_85 7.5 10.15 5.2 56.4 1.3 34_85 28.8 32.5 1.4 3.3 31
28_85 14.95 19.2 1.2 21.6 4.1 34_85 32.5 36.6 1.3 4.1 33
28_85 25.6 30 0.7 1.6 27.8 34_85 36.6 39.15 0.8 2.8 7
28_85 30 33 1.1 0.4 30.8 34_85 39.15 39.7 2.7 3.8 1.3
28_85 33 36 0.2 0.4 24.6 35_85 0 3.5 0.6 1.6 25.4
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18

ECLIPSE METALS LTD (ASX:EPM)

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----- Start of picture text -----

From To Cryolite Fluorite Fe From To Cryolite Fluorite Fe
Hole Id Hole Id
(m) (m) % % % (m) (m) % % %
35_85 3.5 6.5 2.8 11.5 30 4_85 24 28 2.2 3.7 37.2
35_85 6.5 10 0.7 8.6 30.8 4_85 28 30.85 0.4 1.5 33.4
35_85 10 14 0.4 7.8 31.6 4_85 30.85 34 28.2
35_85 14 15.5 1.7 25.8 4_85 34 37.85 21.9
35_85 15.5 18.9 1.1 2.7 6.9 4_85 37.85 40.45 14.5
35_85 20.6 22.4 0.7 3.7 25.4 4_85 40.45 41.9 25.3
35_85 22.4 23.6 3.6 1.6 7.2 4_85 41.9 44.9 3.1
35_85 23.6 27 0.8 2.6 23.6 40_85 0 1.3 8.5 0.6 30
35_85 27 30.55 0.7 0.5 30.6 40_85 1.3 5 5.1 0.9 28.5
35_85 31.25 34 0.6 0.8 21 40_85 5 8.9 0.9 8.3 35.9
35_85 34 36.6 7.6 1.6 11.1 40_85 8.9 10.55 0.7 2.3 31.2
36_85 0 2 12.8 41.6 1.6 40_85 12.85 17 3.7 1.5 28.8
36_85 2 4.3 8.7 53.2 0.9 40_85 17 20 0.1 0.5 26.4
36_85 4.3 8 17.4 18.6 40_85 20 22.9 0.5 22.6
36_85 8 12 14.7 22 41_85 0 2.3 39.5 22.4 22.4
36_85 12 16 0.7 1.7 29.8 41_85 2.3 5.45 0.8 6.5 6.5
36_85 16 20 1.1 1.3 39.8 41_85 5.45 8.5 2.9 1.2 1.2
36_85 20 24 1.4 0.6 37 41_85 8.5 10 1.2 6.3 6.3
36_85 24 27.25 1.5 0.6 29 41_85 10 13.2 1.8 3.2 2.8
36_85 27.25 31 0.5 16.4 42_85 0 3 17.8 38.6 0.1
36_85 31 35.35 2.2 14.6 42_85 3 6 12.9 28.7 0.8
37_85 0 3 6 2.5 40.8 42_85 6 8.1 4.1 29.5 1
37_85 3 6 16 0.4 33.2 42_85 40 45.8 0.9 0.6 29.4
37_85 6 9 1.8 8.2 38.6 42_85 45.8 49 1.2 1.7 4.9
37_85 9 13 0.8 8 39 43_85 0 1.85 10.5 3.2 34.4
37_85 13 18 1.8 5.3 42.2 43_85 5.4 6.5 3.9 22.5 23.8
37_85 18 23.4 12.7 31.4 43_85 9.5 13.4 0.5 3.1 26.2
38_85 0 2 29.8 0.6 30 43_85 24.15 28 0.8 4.1 16.6
38_85 2 4 16.2 0.7 37.4 44_85 0 1.1 24.2 32.8 1.2
38_85 4 6.2 5.2 0.6 41 44_85 1.1 3.7 16.6 39 1.3
38_85 6.2 11.4 8.6 35 44_85 3.7 5 0.9 9.8 34.8
38_85 11.4 13.55 0.8 43.2 15.7 44_85 5 5.7 16.6 37.5 9
38_85 13.55 18 1 15.5 34.1 5_85 0.3 1.2 10.3 17.1 2.5
38_85 18 21.55 0.8 10 35 5_85 1.2 4.45 1.3 11.2 32.6
38_85 21.55 26.65 0.9 9.2 29.6 5_85 4.45 7.7 0.8 9.9 32.9
39_85 0 1.95 3.6 59.6 1.9 5_85 10.2 12.2 4.5 39.5 1.4
39_85 1.95 4.15 1.2 5.7 39.4 5_85 12.2 13.6 14.9 13.2
39_85 4.15 7.5 5.4 29.8 5_85 13.6 16.55 1.1 0.6 20.4
4_85 0 2.5 13.9 50.7 0.9 5_85 16.55 18.45 0.7 0.8 30.6
4_85 2.5 5 12.5 46.7 0.8 5_85 18.45 20.75 0.4 1.3 23.8
4_85 8.5 12 3.9 5.9 28 5_85 21.35 22.6 0.7 27.6
4_85 12 16 1.1 3.8 26 5_85 22.6 26.8 13.1
4_85 16 20 2.3 0.5 26.4 5_85 26.8 29.8 0.9 0.6 20
4_85 20 24 1.2 2.1 34.8 6_85 0 1.15 20.8 40.7 1.4
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19

ECLIPSE METALS LTD (ASX:EPM)

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From To Cryolite Fluorite Fe
Hole Id
(m) (m) % % %
6_85 1.15 3.5 22.2 15.7
6_85 3.5 6 0.3 23.7 12.8
6_85 6 8.5 1.3 4.3 33.4
6_85 8.5 10.6 0.3 8.7 28
6_85 10.6 13 21.9
6_85 13 16.5 26.6
6_85 16.5 20 35.2
6_85 20 24 28.3
6_85 24 28 7.5 31.2
6_85 28 31.6 35.9
6_85 31.6 32.45 31
6_85 32.45 33.8 31.1
6_85 33.8 36 29
6_85 36 38 28.8
6_85 38 42 16.5
6_85 42 45 4.3
6_85 45 47.6 4.8
7_85 0 0.8 3.1 2.1 37.4
7_85 0.8 3.75 13.4 39.9 4
7_85 3.75 7 19 30.8
7_85 7 10 10.3 37.4
7_85 10 13 0.6 10.7 36.6
7_85 13 16.65 1.4 9.2 38.6
7_85 16.65 19 1.1 8.4 27.6
7_85 19 22.8 14.8
7_85 22.8 25 28.9
7_85 25 27.8 9.7
7_85 27.8 32.1 27.4
8_85 0 3.5 12.8 58.4 0.9
8_85 3.5 6.75 7.6 68.1 0.4
9_85 0.4 3.75 13.6 57.7 0.6
9_85 3.75 6.75 4.6 58.6 0.3
J3 13.5 15.4 14.5 54.3 0.3
J3 15.4 19 12.6 71.8 0.2
J3 19 22.6 13.5 63.8 0.3
J3 22.6 26.2 12.5 53.6 0.4
J3 26.2 29.8 13.6 52.1 0.4
J3 29.8 34.27 6.3 51.9 0.3
J7 38 40.9 29.4 0.6 26
J7 40.9 44.31 6.7 0.5 42.6
J7 44.31 45.94 18.5 0.9 30.2
J7 45.94 49.42 0.3 11.2 35
J7 49.42 53.45 0.7 3.9 22.8
J7 53.45 57.4 1.8 3.3 37.8
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----- Start of picture text -----

From To Cryolite Fluorite Fe
Hole Id
(m) (m) % % %
J7 57.4 61.04 2 4 17.8
J7 61.04 64.96 2.1 1.4 31.4
J8 4 6.5 74.2 0.2 7.4
J8 6.5 9.1 92.2 1.9 1.3
J8 9.1 11.15 10 25.4 8.2
J8 12.85 16.23 13.3 9.5 10
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20

ECLIPSE METALS LTD (ASX:EPM)

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APPENDIX C: IVITTUUT DRILL ASSAYS (Cu, Zn, Pb)

==> picture [484 x 629] intentionally omitted <==

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From From
Hole Id To (m) Cu % Zn % Pb % Hole Id To (m) Cu % Zn % Pb %
(m) (m)
30 5 8.03 0.06 1.9 0.05 162 75.36 75.72 0.3 2.3 0.65
130 8.03 11.03 0.06 4.2 0.05 162 75.72 76.33 8.7 12.5 15.4
130 11.03 14 0.6 1.9 0.05 162 77.42 79.98 0.44 3.7 0.69
130 14 17 0.04 2 0.05 162 79.98 82.7 0.13 1.9 0.16
130 17 19.56 0.06 4.3 0.05 178 19.9 23.5 0.04 1.1 0.08
131 20.2 22.82 0.26 1.7 0.47 178 23.5 27.2 0.04 0.35 0.05
139 17 20.05 0.25 1.1 1.4 11_85 36 38.45 0.04 0.8 0.19
139 20.05 23.2 0.08 0.4 0.72 11_85 38.45 40.7 0.05 1.4 0.57
139 23.2 26.3 0.23 0.6 0.54 11_85 40.7 41.6 0.04 10 0.08
139 26.3 28.5 0.28 1.5 1.6 13_85 31.1 32.25 0.04 0.4 0.05
139 28.5 31.3 0.53 1.2 0.91 13_85 39.85 42.1 0.04 2 0.05
146 23.5 26 0.04 2.5 0.09 13_85 42.1 44 0.1 4 0.08
146 26 27.9 0.06 1.8 0.07 13_85 44 44.5 0.06 16.3 0.05
146 27.9 30.86 0.06 2.4 0.05 13_85 45.95 46.45 0.04 12.6 0.05
146 30.86 34.31 0.05 3.7 0.07 14_85 30 33 0.04 1.2 0.05
146 34.31 36.84 0.06 2.2 0.08 14_85 33 35.7 0.04 1.7 0.07
150 5 7.92 0.04 2.8 0.05 18_85 28 30.15 0.1 3.1 0.05
150 7.92 12.3 0.04 3.1 0.05 18_85 30.15 33.6 0.04 1.3 0.06
150 12.3 15.4 0.04 3.2 0.05 20_85 20 22.9 0.04 1.6 0.05
150 15.4 17.85 0.04 3.5 0.05 20_85 24.38 27.95 0.07 2.7 0.08
150 17.85 19.75 0.07 6.9 0.05 21_85 9 12 0.04 0.5 0.05
153 12.07 15.02 0.04 1.7 0.05 21_85 12 14.2 0.04 1.5 0.05
153 15.02 17.87 0.06 2.2 0.05 21_85 18 18.8 0.04 1.3 0.05
154 35.78 37.92 1.7 5.5 7.7 21_85 19.3 23.1 0.07 3.3 0.05
157 16.37 19.62 0.05 3.4 0.18 21_85 23.6 26.05 0.07 3.1 0.06
157 19.62 22.58 0.04 4.7 0.05 22_85 28 31.7 0.07 4.4 0.05
157 22.58 25.58 0.04 3.5 0.05 23_85 27.5 30 0.04 2.7 0.26
157 25.58 27.92 0.04 2.9 0.05 23_85 30 33 0.06 3 0.05
157 27.92 30.7 0.04 3.3 0.05 23_85 33 36 0.04 3.6 0.05
158 24.85 27.86 0.05 3.3 0.05 23_85 36 40 0.04 1.7 0.05
158 27.86 31.3 0.09 2.7 0.05 24_85 6 9.6 0.12 4.1 0.11
158 31.3 34.65 0.06 1.4 0.05 24_85 9.6 11.65 0.04 2 0.1
158 34.65 37.7 0.07 3.3 0.05 24_85 11.65 16 0.07 2.8 0.18
161 22.78 26.17 0.04 0.86 0.15 24_85 16 20 0.04 1.7 0.05
161 26.17 29.54 0.04 3.5 0.1 24_85 20 24 0.06 2 0.05
161 29.54 33 0.04 2.4 0.05 24_85 24 26.45 0.08 4.6 0.05
161 33 37 0.04 4.6 0.05 25_85 14.55 19.6 0.08 3.3 0.05
161 37 40.56 0.04 2.2 0.05 25_85 19.6 22.7 0.04 1.1 0.05
162 45 45.41 7.7 18.2 13.1 25_85 22.7 26.8 0.04 2.1 0.05
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ECLIPSE METALS LTD

Level 3, 1060 Hay Street, West Perth WA 6005 T: +61 8 9480 0420 | F: +61 8 9321 0320 ABN 85 142 366 541

ECLIPSE METALS LTD (ASX:EPM)

==> picture [484 x 706] intentionally omitted <==

----- Start of picture text -----

From From
Hole Id To (m) Cu % Zn % Pb % Hole Id To (m) Cu % Zn % Pb %
(m) (m)
26_85 12.7 15.5 0.09 2.8 0.05 40_85 0 1.3 0.04 4.2 0.21
26_85 15.5 20.1 0.09 5.6 0.05 40_85 1.3 5 0.04 2.3 0.09
26_85 20.1 23.3 0.04 3.4 0.05 40_85 5 8.9 0.04 1.5 0.05
26_85 23.3 26.4 0.04 1.8 0.05 40_85 8.9 10.55 0.04 3.2 0.5
26_85 27.05 29 0.04 1.6 0.05 40_85 12.85 17 0.04 4.5 0.05
26_85 29 32 0.04 2.6 0.05 40_85 17 20 0.04 2.8 0.05
26_85 32 36 0.04 1.8 0.05 40_85 20 22.9 0.06 4.9 0.07
27_85 26.2 28.15 0.05 1.1 0.05 41_85 0 2.3 0.04 1.4 0.16
28_85 30 33 0.04 0.4 0.05 42_85 40 45.8 0.04 0.9 0.05
28_85 33 36 0.04 0.5 0.05 42_85 45.8 49 0.04 2 0.12
28_85 36 39.6 0.04 0.8 0.07 43_85 5.4 6.5 0.22 1.8 3.8
29_85 28 32 0.04 1 0.05 43_85 9.5 13.4 0.04 2 0.28
29_85 32 36.4 0.05 2.9 0.05 43_85 24.15 28 0.04 2.8 0.08
29_85 37.1 39 0.07 1.3 0.05 5_85 13.6 16.55 0.07 6.4 0.05
33_85 18 20.3 0.04 2 0.56 5_85 16.55 18.45 0.04 2 0.05
33_85 20.3 24 0.07 2.9 0.08 5_85 18.45 20.75 0.07 5.3 0.05
33_85 24 27.9 0.08 5.4 0.1 5_85 21.35 22.6 0.04 3.9 0.05
33_85 28.2 31.6 0.04 2.1 0.05 5_85 22.6 26.8 0.04 2.3 0.05
34_85 39.15 39.7 0.08 2.7 0.13 5_85 26.8 29.8 0.8 4.7 0.11
35_85 6.5 10 0.04 0.8 0.05 6_85 10.6 13 0.04 1.8 0.26
35_85 10 14 0.06 1.6 0.22 6_85 13 16.5 0.08 3.2 3.2
35_85 14 15.5 0.07 3.7 0.05 6_85 16.5 20 0.04 1.8 0.1
35_85 23.6 27 0.04 2.4 0.05 6_85 20 24 0.04 1.9 0.28
35_85 27 30.55 0.04 2.3 0.05 6_85 24 28 0.05 2.1 0.35
35_85 31.25 34 0.04 2.1 0.05 6_85 28 31.6 0.04 1.7 0.16
35_85 34 36.6 0.04 1.8 0.05 6_85 31.6 32.45 0.04 5.4 0.05
36_85 27.25 31 0.04 1.6 0.05 6_85 32.45 33.8 0.04 1.1 0.05
36_85 31 35.35 0.04 2.1 0.05 6_85 33.8 36 0.04 3.4 0.12
37_85 0 3 0.04 1 0.05 6_85 36 38 0.05 2.7 0.06
37_85 3 6 0.16 1.8 0.31 6_85 38 42 0.04 1.9 0.15
37_85 6 9 0.04 1.3 0.05 6_85 42 45 0.04 1.1 0.17
37_85 9 13 0.04 1.4 0.05 6_85 45 47.6 0.05 2.8 0.14
37_85 13 18 0.04 0.3 0.05 7_85 16.65 19 0.04 1 0.05
37_85 18 23.4 0.04 2.6 0.05 7_85 19 22.8 0.04 1.6 0.12
38_85 2 4 0.26 1 1.5 7_85 22.8 25 0.08 3.1 0.05
38_85 4 6.2 0.04 0.5 0.15 7_85 25 27.8 0.04 1.2 0.1
38_85 6.2 11.4 0.04 0.8 0.05 7_85 27.8 32.1 0.09 2.8 0.1
38_85 11.4 13.55 0.04 2.7 0.05 J8 9.1 11.15 0.44 1.7 2.3
39_85 4.15 7.5 0.06 1.8 0.1 J8 12.85 16.23 0.21 3.1 0.9
4_85 30.85 34 0.04 1.5 0.15
4_85 34 37.85 0.04 2.4 0.07
4_85 37.85 40.45 0.04 0.9 0.11
4_85 40.45 41.9 0.04 4.4 0.05
4_85 41.9 44.9 0.06 7.4 0.23
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22

ECLIPSE METALS LTD (ASX:EPM)

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Appendix D

– JORC Code, 2012 Edition Table 1 report

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections)

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Criteria JORC Code explanation Commentary
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Criteria JORC Code explanation Commentary	Criteria JORC Code explanation Commentary	Criteria JORC Code explanation Commentary
Sampling techniques	Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (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	Diamond drilling completed within the pit area, totalled approximately 8,100m with 98% of core still available in Greenland with core from two other diamond holes located in Denmark (refer to Appendix 1). Sampling intervals were based on cryolite and fluorite present within the core – intervals averaged 3m. All information regarding the project has been downloaded from the Geological Survey of Greenland and Denmark (GEUS).

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==> picture [791 x 473] intentionally omitted <==

----- Start of picture text -----

Criteria JORC Code explanation Commentary
commodities or mineralisation types (eg
submarine nodules) may warrant disclosure Drill samples were analysed for Cryolite, Fluorite and Iron. Assays results are given as a percentage.
of detailed information.
Drilling Drill type (eg core, reverse circulation, All information sourced from the literature has stated approx. 19,000m diamond drilling was
open-hole hammer, rotary air blast, auger, completed. No details of the drilling methods have been identified in the historic data. From the
techniques
Bangka, sonic, etc) and details (eg core information reviewed there was no information regarding core orientated or down hole surveys
diameter, triple or standard tube, depth of taken during drilling programs. Most of diamond drill hole were drilled vertically into the pit.
diamond tails, face-sampling bit or other
type, whether core is oriented and if so, by
what method, etc).
Drill sample recovery Method of recording and assessing core No information has been provided if the drilled metres were weighted with no sample recovery
and chip sample recoveries and results numbers given within the reports.
assessed.
Measures taken to maximise sample Core recovery/sample data – yet to be determined.
recovery and ensure representative nature
of the samples. Relationship between sample recovery and grade is unknown – no information has been stated
Whether a relationship exists between within the historical reports.
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 Geological logging was completed over all drill holes.
geologically and geotechnically logged to a
level of detail to support appropriate The geological logs appear to be relatively qualitative and quantitative in nature.
Mineral Resource estimation, mining
studies and metallurgical studies. No photos were available in the reports.
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 techniques If core, whether cut or sawn and whether Historical approach was to sample where cryolite was over 20% within the core - some core has been
and sample preparation quarter, half or all core taken. sawn in half and some quartered. No details have been provided of the sub-sampling or sample
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24

ECLIPSE METALS LTD (ASX:EPM)

Criteria	JORC Code explanation	Commentary
	If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. For all sample types, the nature, quality and appropriateness of the sample preparation technique. Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. Whether sample sizes are appropriate to the grain size of the material being sampled.	preparation methods. Based on the absence of data, no comment can be made on the appropriateness of the sample preparation techniques historically undertaken. No evidence of control/procedures adopted for sub-sampling stages. Specific Gravity measures were also taken for certain core intervals. An average value of 2.95 was used for specific gravity for the cryolite and fluorite zone. No duplicate samples have been stated within historical reporting or whether the samples are appropriate for the material sampled
Quality of assay data and laboratory tests	The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) andprecision have been established.	All assaying and determination of cryolite / fluorite was carried out by the owner/operator on the mine site at the time. Internal company quality control assurance has not been documented within the reports. Base metal assays were carried out by Outokumpo Oy mining consultants in Finland No information has been supplied regarding duplicates and laboratory checks. No information provided regarding quality control procedures adopted by the various exploration companies.

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Criteria JORC Code explanation Commentary
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Criteria JORC Code explanation Commentary	Criteria JORC Code explanation Commentary	Criteria JORC Code explanation Commentary
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel. The use of twinned holes. Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Discuss any adjustment to assay data.	Based on historical results reported, verification of significant intersections has been completed as per Table 1 of the announcement There is no evidence of twinned holes in the project area. Documentation of primary data, data entry procedures, data verification protocols have been completed. Historical data was sourced from reports lodged to the Greenland authorities. Drillhole collar positions digitised and checked on historic drill plans

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Criteria	JORC Code explanation Commentary	JORC Code explanation Commentary
	Location and values of analytical data verified on historic cross sections
Location of data points	Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. Specification of the grid system used. Quality and adequacy of topographic control	All drill holes collars were reported as being located on a local grid system. Adequate topographic control has been completed by digitizing the pit through surveyed cross section to form a 3D Model A total 262 survey points were digitized from the pit survey plan included in GEUS 20335; capturing X, Y and Z coordinates. Additional survey points and pit profile lines were digitized as each data source appeared to have a different interpretation of the pit surface particularly at the base of the pit where undercut mining had taken place. Digitized survey points, where available, took precedence over the other data.

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Criteria JORC Code explanation	Criteria JORC Code explanation	Commentary
Data spacing and distributi Data spacing for reporting of Exploration Results. Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. Whether sample compositing has been applied.		Drill Holes are spaced between 10 and 15m apart within the pit area. Data spacings and distribution at this stage are not satisfactory for estimation of a Mineral Resource or Ore Reserve, as the quality of the drill hole data precludes its use for these estimations. Sample compositing has been applied as cryolite, fluorite and iron have been assayed in the same drill intervals. In some cases, iron has been assayed individually based on the amount of siderite observed within the core.
Orientation of data in rela to geological structure	t Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	Most holes were drilled vertically to obtain geological and structural information; some were steeply inclined to sample mineralisation in the pit walls. No information is known if the core sampling in the historic campaigns has introduced any significant bias.

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Criteria	JORC Code explanation	Commentary
Sample security	The measures taken to ensure sample security.	No informationrelating to the sample security have been identified.
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	No details observed on any previous sampling reviews or audits. Its assumed that industry standard practices and procedure were implemented at that time.

Section 2 Reporting of Exploration Results

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

Criteria	JORC Code explanation	Commentary
Mineral tenement and land tenure status	Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	MEL27007-45 has been transferred to Eclipse Metals Limited. The total area of the MEL is 50 sq km. No current security over the tenure
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	GEUS Report File No. 20236 The Planning of the Ivigtut Open Pit of Kryolitselskabet Oresund A/S - Mining of the Flouritic Orebody”; Outokompu OY Mining Consultants, 1987. This report provided 18 cross sections showing drill traces with cryolite (kry), fluorite (fs) and siderite (sid) values together with pit profiles, resource blocks and tabulated tonnage estimates on each section with an SG of 2.95. GEUS Report File No. 20238 “The Planning of the Ivigtut Open Pit of Kryolitselskabet Oresund A/S – Report of the First Phase, Investigation of the Quantity and Quality of Extractable Ore from the Ivigtut Open Pit”; Outokompu OY Mining Consultants, 1986. This report contained 23 sections showing drillhole traces and contoured cryolite/fluorite grades with an overlay of resource blocks. These sections were used to check positions of drillholes relative to those shown in the above report(GEUS 20236). Resource tonnages areprovided.

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Criteria	JORC Code explanation	Commentary
		GEUS Report File No. 20335 Kryolitselskabet Oresund A/S, De Resterende Mineralreserver I Kryolitforekomsten Ved Ivigtut, Ultimo 1987” This report is the most useful of the reports. It provides: - Drillhole location plan - Complete cross section locations - Pit survey points - Plans of underground and in-pit ramp - 38 cross section showing drillhole traces, geological interpretation and ore blocks - Tabulated ore blocks with cryolite, fluorite and siderite grades and tonnages (back-calculated blanket SG of 3) GEUS Report File No. 21549 “Ivigtut Mineopmaaling, 1962” This report is a survey record of the open pit and includes 28 sections, each of which show the pit profile together with drillhole traces and, on some sections, underground workings. GEUS Report File No. 20241 Kryolitselskabet Oresund A/S, Lodighedsdistribution I, Ivigtut Kryolitbrud, 31.12.1985” (Danish) 108 pages of drillhole analytical data in %: hole ID, from to, cryolite, fluorspar, Fe,Cu,Zn,Pb,S
Geology	Deposit type, geological setting and style of mineralisation.	Granitic Layered Intrusive Deposits
Drill hole Information	A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: 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.	The drill hole information has been inserted and tubulated within the document for the drill holes reported. Further desktop study work is in progress for the quartz and zinc mineralisation and will be released as soon as the data has been captured and interpretation completed

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Criteria JORC Code explanation Commentary
Data aggregation In reporting Exploration Results, weighting averaging
methods techniques, maximum and/or minimum grade truncations Modelling cut off grades:
(eg cutting of high grades) and cut-off grades are usually Cryolite 2%
Material and should be stated. Fe 0.5%
Where aggregate intercepts incorporate short lengths of
high-grade results and longer lengths of low grade results, There are two main flat to shallow dipping, mineralised domains beneath and
the procedure used for such aggregation should be stated surrounding the lower portions of the pit.
and some typical examples of such aggregations should be Domain D1: Cy-Fl Cryolite and Fluorite co-exist
shown in detail. Domain D2: Fe-Zn; iron (siderite) and zinc co-exist
The assumptions used for any reporting of metal equivalent
values should be clearly stated.
Cy and Fl grades to be estimated within Domain 1
Fe-Zn grades to be estimated within Domain 2
D2 is clipped against D1
No metal equivalent grades have been sourced from historic reports
Relationship between These relationships are particularly important in the All drill holes intersect the mineralisation at an angle of approx. 90 degrees. Thus, the
mineralisation widths reporting of Exploration Results. intersections are close to true width if not 100% of true width. For example, in
and intercept lengths If the geometry of the mineralisation with respect to the drill places where the mineralisation is horizontal the drillholes are vertical.
hole angle is known, its nature should be reported.
If it is not known and only the down hole lengths are Interval widths have been reported in Appendix B and summary table has been
reported, there should be a clear statement to this effect (eg documented in Table 1 of the ASX release
‘down hole length, true width not known’).
Diagrams Appropriate maps and sections (with scales) and tabulations All grades have been included including the lower grades and significant intersections
of intercepts should be included for any significant discovery been reported within the release document.
being reported These should include, but not be limited to a
plan view of drill hole collar locations and appropriate Drill cross sections and 3D models have been included within the document.
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Criteria	JORC Code explanation	Commentary
	sectional views.
Balanced reporting	Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	The assay results have been sourced from the historical reports and have been substantially documented
Other substantive exploration data	Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	The assay results have been sourced from the historical reports and have been substantially documented
Further work	The nature and scale of planned further work (eg tests for lateral extensions 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.	Further work is currently underway for the incorporation of all base metal and quartz zones within the pit area. Work will include data capture, interpretation of cross section and volume calculations.

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