ELEMENT 25 LIMITED — Capital/Financing Update 2018

Mar 13, 2018

Magmatic Resources Ltd Phone: +61 8 6102 2709 Level 1, 11 Lucknow Place www.magmaticresources.com West Perth WA 6005

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Magmatic Resources Ltd ASX / MEDIA ANNOUNCEMENT 14 March 2018

Magmatic secures major Copper-Nickel-Cobalt Project.

The newly acquired Mt Venn Project (E38/2961) constitutes over 60% of the Mt Venn Intrusion 120km east of Laverton, WA

Highlights:

• Magmatic Resources Limited (ASX: MAG) has entered into a binding agreement with Montezuma Mining Company Limited (ASX: MZM) to acquire 100% of E38/2961, a key landholding at the Mt Venn Intrusion, east of Laverton in WA (Figure 1).

• Magmatic Resource’s Mt Venn project is immediately along strike from the recent Mt Venn discovery by Great Boulder Resources Limited (ASX: GBR) that yielded wide zones of primary Cu-NiCo sulphide mineralisation which included intercepts of 48m @ 0.75% Cu, 0.2% Ni and 0.07% Co and 61m @ 0.51% Cu, 0.19% Ni and 0.06% Co (refer ASX announcement 13 November 2017 and Figure 2).

• Rock chip sampling by previous explorers along the 7km strike length at E38/2961 identified copperbearing gossans with assays of up to 24% Cu, 1.89% Ni, and 0.18% Co.

• Detailed ground EM and heliborne VTEM surveys by previous explorers identified multiple conductors, some of which remain untested, or with minimal follow-up.

• MAG intends to commence field work at E38/2961 as soon as practicable with field reconnaissance, reprocessing EM and VTEM data, and an RC drill program scheduled for the 2018 field season.

David Richardson, Magmatic’s Managing Director said: ‘We are all very excited about the Mt Venn copper – nickel - cobalt project acquisition. The project compliments our existing portfolio of gold and base metals project in the East Lachlan. The opportunity to explore the Mt Venn Intrusion, especially having secured over 60% of the complex, gives Magmatic immediate access to what is considered one of the best areas in Australia to explore for copper, nickel and cobalt. The work that Great Boulder Resources have already done on the southern section of the Mt Venn Intrusion has yielded outstanding results that we are keen to add to’.

Magmatic Resources Limited (“ Magmatic ”) is pleased to advise that it has entered into a binding agreement with Montezuma Mining Company Limited (“ Montezuma ”) to acquire 100% of E38/2961. The acquisition represents the commencement of a clear and defined strategy by Magmatic to continue to build a portfolio of Australian based assets that complement its East Lachlan tenements, with a focus on gold and base metals. E38/2961 accounts for over 60% of the Mt Venn Intrusion currently being explored by Great Boulder Resources Limited (GBR).

Acquisition of E38/2961 at Mt Venn

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ASX / Media announcement

E38/2961 – Exploration Potential

Previous exploration at E38/2961 has highlighted numerous copper – nickel – cobalt prospects with a snapshot of results as follows:

• Sampling of Mt Venn gossan outcrop by previous explorers returned best grades of 24% Cu, 13.2% Cu, 8.3% Cu, 6.7% Cu (Figure 3 and Table 4);

• Detailed ground EM (Figure 4) and heliborne VTEM surveys by previous explorers identified multiple

• conductors, some of which remain untested, or with minimal follow-up. These targets are along the 7km length of prospective strike at E38/2961;

Previous copper, nickel, and cobalt recorded in drilling (Figure 4, Table 1, Table 2 and Table 3), include;

• 4m @ 1.29% Cu, 0.68% Ni, 646ppm Co (MVRC010, from 33m), including 2m at 1.17 % Cu, 1.18 % Ni, and 1104 ppm Co (from 34m)

• 12m at 0.30% Cu, 0.11% Ni and 425ppm Co (MVRC001, from 92m)

• 8.3m @ 0.7% Cu (from 56.5m), and 2.1m at 0.97% Cu (from 65m) in TDR3, from (Tasminex, 1970’s diamond drilling, Ni and Co not recorded)

Magmatic believes that E38/2961 represents a decisive, near-term exploration opportunity for the Company and its shareholders and intends to commence fieldwork at the property to build on the previous exploration datasets. Magmatic plan to complete initial fieldwork, reprocess EM and VTEM data, and then complete an RC drilling program.

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Figure 1: Mt Venn Project E38/2961 location plan

Acquisition of E38/2961 at Mt Venn

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ASX / Media announcement

Terms of Agreement

In consideration for the acquisition of E38/2961 Magmatic has agreed the following payment structure with Montezuma:

• On acquisition of E38/2961 Magmatic will pay to Montezuma A$250,000 in cash and A$425,000 in ordinary fully paid MAG shares;

• Should Magmatic define a JORC 2012 Mineral Resource of 20Mt @ >= 1% CuEq at E38/2961, Magmatic will pay to Montezuma A$350,000 in cash and A$350,000 in ordinary fully paid MAG shares;

• Should Magmatic make a Decision to Mine at E38/2961, Magmatic will pay to Montezuma A$350,000 in cash and A$350,000 in ordinary fully paid MAG shares;

• Montezuma will retain a 2.0% Net Smelter Royalty (“ NSR ”) on production at E38/2961. Magmatic has been granted a buyback option over the NSR which can be exercised at any time in return for an A$5,000,000 cash payment to Montezuma.

• Magmatic must expend a minimum of A$500,000 on exploration at E38/2961 within the first 18 months following acquisition. Should Magmatic not reach the required expenditure, Magmatic can elect to pay to Montezuma the difference between actual incurred expenditure and A$500,000 or Montezuma will regain tenure at E38/2961.

• All MAG shares issued to Montezuma as part of the transaction now and in future will be subject to a six (6) month escrow period from the date of issue and will be calculated based upon the 30-day Volume Weighted Average Price (“ VWAP ) of Magmatic shares immediately prior to the respective agreed issue dates.

Competent Persons Statement:

The information in this document that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Steven Oxenburgh who is a Member of the AusIMM (CP) and a Member of the Australian Institute of Geoscientists. Mr Oxenburgh is a full-time employee of Magmatic Resources Limited and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking 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 Oxenburgh consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Acquisition of E38/2961 at Mt Venn

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ASX / Media announcement

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Figure 2: Mt Venn E38/2961 summary plan showing selected E38/2961 and GBR drilling

Acquisition of E38/2961 at Mt Venn

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ASX / Media announcement

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Figure 3: Mt venn E38/2961 Outcrop sampling on geology (after Helix)

Acquisition of E38/2961 at Mt Venn

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ASX / Media announcement

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Figure 4: Mt Venn E38/2961 Previous drilling, geology, and selected EM anomalies (does not include 1970’s Tasminex drilling)

Acquisition of E38/2961 at Mt Venn

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ASX / Media announcement

Table 1: Previous drilling collar details

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Hole Depth East_GDA94 North_GDA94
Hole_ID RL Azimuth Dip Company drilled
Type (m) Zone 51 Zone 51
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MVRC001	RC	124	549854	6891984	500	270	-60	Helix Resources
MVRC002	RC	178	549639	6891600	500	270	-60	Helix Resources
MVRC003	RC	124	549870	6891334	500	225	-60	Helix Resources
MVRC004	RC	136	549803	6892206	500	270	-60	Helix Resources
MVRC005	RC	118	549204	6894405	500	270	-60	Helix Resources
MVRC006	RC	106	549247	6894403	500	270	-60	Helix Resources
MVRC007	RC	124	549303	6894738	500	270	-60	Helix Resources
MVRC008	RC	100	549348	6894872	500	270	-90	Helix Resources
MVRC009	RC	118	549654	6895492	500	90	-60	Helix Resources
MVRC010	RC	136	549531	6895690	500	90	-60	Helix Resources
MVRC011	RC	124	549780	6891007	500	270	-60	Helix Resources
MVRC012	RC	88	550085	6890403	500	270	-60	Helix Resources
MVRC013	RC	66	550045	6890407	500	270	-60	Helix Resources
MVRC014	RC	162	549823	6891291	500	225	-60	Helix Resources
MVRC015	RC	162	549730	6892753	500	270	-60	Helix Resources
MVRC016	RC	132	549702	6892604	500	270	-60	Helix Resources
MVRC017	RC	204	549743	6892992	500	230	-60	Helix Resources
MVRC018	RC	132	549689	6892648	500	270	-60	Helix Resources
MVRC019	RC	204	549761	6892476	500	225	-60	Helix Resources
MVRC020	RC	126	549004	6893401	500	270	-60	Helix Resources
MVRC021	RC	132	549291	6894320	500	270	-60	Helix Resources
MVRC022	RC	60	550383	6890000	500	270	-60	Helix Resources
MVRC023	RC	30	550367	6890017	500	270	-60	Helix Resources
MVRC024	RC	145	550905	6892099	500	270	-60	Helix Resources
MVRC025	RC	150	547319	6894225	500	245	-60	Global Nickel Investment
MVRC026	RC	222	547003	6894570	500	70	-55	Global Nickel Investment
MVRC027	RC	180	548525	6895453	500	270	-60	Global Nickel Investment
MVRC028	RC	72	549321	6895202	500	290	-75	Global Nickel Investment
MVRC029	RC	79	548799	6897510	500	0	-90	Global Nickel Investment

Acquisition of E38/2961 at Mt Venn

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ASX / Media announcement

Table 2: Previous drilling Tasminex Drill Collar Details

Hole_ID	Hole **Type **	Depth (Feet)	Depth (m)	Local coordinates	RL	Azimuth	Dip	Company drilled
DDH 7	DD	92.35	28	21600S; 20W	500	0	-90	Tasminex Resources
DDH 8	DD	92.66	28	19200S; 1750W	500	0	-90	Tasminex Resources
DDH 9	DD	230.12	70	19600S; 1400W	500	55	-45	Tasminex Resources
DDH 10	DD	228.6	70	19150S; 1750W	500	55	-45	Tasminex Resources
DDH 11	DD	228.6	70	20280S; 1750W	500	90	-45	Tasminex Resources
DDH 12	DD	214.88	65	20280S; 1750W	500		-45	Tasminex Resources
DDH 14	DD	60.96	19	21200S	500	90	-45	Tasminex Resources
TDH 1	DD	188.06	57	18456S;1462W	500	270	-55	Tasminex Resources
TDH 2	DD	183.18	56	19480S; 1860W	500	259	-65	Tasminex Resources
TDH 3	DD	226.77	69	16028S; 441W	500	200	-55	Tasminex Resources

Table 3: Significant results from previous drilling

Hole_ID East_GDA94 North_GDA94 Depth From Interval Grade
Zone 51 Zone 51 (m) (m) (m) Cu % Ni% Coppm
MVRC001 549854 6891984 124 77 2 0.28 0.02 89
and 92 12 0.30 0.11 425
MVRC010 549531 6895690 136 33 4 1.29 0.68 646
including 34 2 1.17 1.18 1104
MVRC012 550085 6890403 88 0 32 0.2 0.05 241
including 20 4 0.37 0.14 156
and 36 14 0.34 0.06 221
including 37 2 0.39 0.12 254
MVRC014 549823 6891291 162 14 16 0.13 0.06 223
and 58 16 0.31 0.03 80
and 82 13 0.19 0.03 67
TDH3* 533380 6893630 51.81 8.4 0.7 NR NR
and 63.7 2.21 1.21 NR NR

*Location estimated from the previous maps – 1970’s diamond hole NR: not recorded

Acquisition of E38/2961 at Mt Venn

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ASX / Media announcement

Table 4: Helix best rock chip results

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East_GDA94 North_GDA94
SITE_ID Cu_ ppm Ni_ppm Co_ppm Au_ppb Pd_ppb Pt_ppb
Zone 51 Zone 51
244953 549689.6 6895477 240000 18900 1830 369 80 48
218729 549347 6894956.6 132000 1650 180 135 12 25
244390 549676.43 6891944.1 86800 1110 212 40 1 15
244634 548849.92 6896646.4 83000 2030 988 49 1 -1
244383 549937 6891391 63900 783 250 7 6 11
244385 549941 6891391 57300 1200 334 12 5 70
244389 549674.43 6891944.1 46700 888 158 52 2 10
244384 549939 6891391 41700 1740 366 7 4 60
244902 549349.3 6896670.5 33900 497 84 69 1 2
218732 549279.2 6894642.5 24400 2400 994 24 1 4
244928 550041.3 6898386.2 21100 4080 1420 32 1 3
244958 550187.6 6895551.5 19600 840 42 47 3 6
244927 550041.7 6898366 13000 400 92 37 12 3
244382 549935 6891391 12300 2700 694 11 2 78
244956 550189.9 6895606.2 8980 607 82 5 3 6
218726 549331.3 6894858.6 7700 1030 320 3 6 4
244954 549688.1 6895482.9 6710 860 76 3 -1 1
244957 550206.3 6895613.3 5860 445 76 2 1 6
244391 549678.43 6891944.1 5140 200 58 8 36 83
244904 549349 6896673 4790 285 34 7 -1 2
244381 549796.89 6891234.6 4630 1310 310 1 12 21
244423 548614 6894900 3950 1760 720 7 1 2
218731 549279.2 6894624.1 3830 611 168 6 5 10
244447 550007 6891254 3620 1330 98 5 4 4
244961 550944.1 6897434 3590 1620 1010 2 3 4
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Acquisition of E38/2961 at Mt Venn

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Appendix I – JORC Code, 2012 Edition – Table 1

Section 1 Sampling Techniques and Data: Mt Venn

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.	Sample methods include selective rock chip sampling, soil sampling, and percussion, RC and DD drilling.
	Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.	Samples taken by previous explorers date back to 1970s, using techniques appropriate at the time. Those methods may not pass modern QAQC standards. Recent exploration was by ASX- listed companies and techniques are expected to be industry standard.
	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.	Rock chip sampling was done to complement detailed mapping and is naturally selective. RC drilling was by ASX-listed companies after 2002. All data was available digitally and was to industry standard. Reverse circulation drilling was used to obtain 1 m samples from which 3 kg sub-sample was collected. The target horizons were sampled at 1m intervals and all other samples were composited. All mineralisation was reported as 1m intervals. Tasminex 1970s diamond drilling used imperial measurements and were one-foot to five foot lengths. Assays only were reported and no assay jobs reports were obtained. These results give an indication of where mineralisation may be, but will not be used for any JORC-compliant resource calculations.
Drilling techniques	Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).	Standard face sampling RC techniques. DD would have used methods appropriate for the period (1970s).
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed.	Helix and Global Metals have not reported recoveries. No sample issues were highlighted in reports. Tasminex 1970s – not recorded
	Measures taken to maximise sample recovery and ensure representative nature of the samples.	Industry standard for Helix and Global Metals Tasminex 1970s – not recorded
	Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	Not known.

Appendix I – JORC 2012 Table 1: Mt Venn i

Criteria	JORC Code explanation	Commentary
Logging	Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.	Geologically logged. No mineral resource estimation
	Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.	Industry standard for Helix and Global Metals Tasminex 1970s – not recorded
	The total length and percentage of the relevant intersections logged.	Industry standard for Helix and Global Metals Tasminex 1970s – not recorded
Sub-sampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken.	Tasminex 1970s – likely chisel split No DD core for Helix and Global Metals
	If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.	Helix and Global Metals - riffle split to 3kg.
	For all sample types, the nature, quality and appropriateness of the sample preparation technique.	Expected to be industry standard for Helix and Global Metals, but not recorded Tasminex 1970s – not recorded
	Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.	Expected to be industry standard for Helix and Global Metals, but not recorded Tasminex 1970s – not recorded
	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.	Expected to be industry standard for Helix and Global Metals, but not recorded Tasminex 1970s – not recorded
	Whether sample sizes are appropriate to the grain size of the material being sampled.	Sample size is not recorded but expected to be homogenous and sample size is expected to be suitably representative
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.	Helix used Ultratrace Laboratories and Global Metals did not record. Reported as fire assay for gold, with aqua regia finish and ICPMS for multielement work. Tasminex 1970s – not recorded
	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.	Helix completed ground EM using Zonge Engineering. That survey was limited in area but identified conductors Global Metals completed heliborne versatile time -domain electromagnetics (VTEM) over a larger area using Geotech Airborne. That survey also identified conductors.

Appendix I – JORC 2012 Table 1: Mt Venn

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Criteria	JORC Code explanation	Commentary
	Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.	Not recorded, but expected to be industry standard for Helix and Global Metals Tasminex 1970s – not recorded
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel.	Original files were inspected and calculated by several parties
	The use of twinned holes.	No twinned holes available
	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.	Helix and Global Metals data was recovered from WAMEX in standard formats. Tasminex 1970s – data retrieved from maps in local grid
	Discuss any adjustment to assay data.	No adjustments were made to the assay data
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.	Helix and Global Metals used hand-held GPS. Accuracy is expected to be high (within 5m) Tasminex 1970s – used a local grid and imperial measurements and that data has not been fully verified. Field check recommended if collars can be identified.
	Specification of the grid system used.	GDA94 Zone 51 for Helix and Global Metals. Tasminex 1970’s – local grid established
	Quality and adequacy of topographic control.	Topographical data does not appear to be adequately levelled
Data spacing and distribution	Data spacing for reporting of Exploration Results.	Drill hole spacing along the geological horizon targeted copper-bearing gossan, and EM and VTEM targets and was not grid drilled. Magmatic believe that there are untested EM, VTEM and geochemical targets. Where drillingis denser,there are 1-2 holesper ~200m-spaced section
	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.	No mineral resource estimation completed
	Whether sample compositing has been applied.	No sample compositing
Orientation of data in relation to geological structure	Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.	Drilling was targeted to be approximately perpendicular to targeted mineralised positions. Dip is interpreted to vary from 40°to 70° and down-hole widths are expected to be 60-80% of true width
	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.	Not expected to cause sampling bias
Sample security	The measures taken to ensure sample security.	Helix and Global Metals – not recorded, but expected to be industry standard. Tasminex 1970’s – not recorded
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	No audits have been undertaken

Appendix I – JORC 2012 Table 1: Mt Venn

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Section 2 Reporting of Exploration Results

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.	Tenement E38/2961 was granted to Montezuma Mining Company Ltd on 1/7/2015 and expires on 30/6/2020. The tenement covers 20 sub-blocks for 59.63km2. The tenement is on the Cosmo Newberry Aboriginal Reserve and there is a native title agreement granting access. This is expected to be transferred to Magmatic Resources. There is a small area in the SE corner which has a miscellaneous license by Gold Road. Magmatic expects to negotiate an access agreement with Gold Road. The area is not considered critical to the project.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	Search of WAMEX database was completed: Tasminex, early 1970scompleted gridding, mapping, sampling various ground-based geophysical surveys, auger, shallow percussion, and DD Helix 2002-2006completed rock chip and geological mapping, 50m line spaced aeromagnetic and radiometric survey, ground EM, and 24 RC holes for 3031m. Drill holes targeted EM and magnetic anomalies along the Mt Venn Intrusion. Global Nickel Investments (later Global Metals)completed a regional heliborne VTEM survey, reprocessed the aeromagnetic data, and drilled 5 RC holes for 703m. Drilling targeted the VTEM anomalies, some of which were outside the Mt Venn Intrusion.
Geology	Deposit type, geological setting and style of mineralisation.	Target deposit type is a basal contact, or layer-related, mafic-ultramafic intrusion-hosted nickel-copper sulphide deposit with accessory cobalt, PGEs and possible gold.
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: • easting and northing of the drill hole collar • elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar • dip and azimuth of the hole • down hole length and interception depth • hole length.	Drill hole information is shown in table in main body of release.
	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.	All holes are reported. Tasminex data is in a local grid and accuracy not fully verified. Helix completed some verification and TDH 3 is located from that work.

Appendix I – JORC 2012 Table 1: Mt Venn

iv

Criteria	JORC Code explanation	Commentary
Data aggregation methods	In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated.	No cut-off grades have been applied
	Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.	Not applicable
	The assumptions used for any reporting of metal equivalent values should be clearly stated.	Not applicable
Relationship between mineralisation widths and intercept lengths	These relationships are particularly important in the reporting of Exploration Results.
	If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.	Drilling was targeted to be approximately perpendicular to targeted mineralised positions. Dip is interpreted to vary from 40°to 70° and down-hole widths are expected to be 60-80% of true width
	If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’).	Down hole length only is known. True widths are not known.
Diagrams	Appropriate maps and sections (with scales) and tabulations of 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.	In body of report
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.	Low grades are below detection and have not been reported. Selected higher grade and medium grade samples have been selected to ensure balance.
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.	All data has been reviewed and relevant data reported. Report covers:geological observations; geophysical survey results; geochemical survey results No data was identified in data searches for:bulk samples; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; or potentially deleterious or contaminating substances.
Further work	The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling).	Magmatic plan to complete the following: obtain and re-process detailed aeromagnetic, radiometric, EM and VTEM data, review untested targets on the ground, completed samplingand mappingas appropriate,RC and DD selected high-prioritytargets.
	Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	Possible untested conductors are shown in the body of the report

Appendix I – JORC 2012 Table 1: Mt Venn

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