EMERALD RESOURCES NL - Capital/Financing Update 2024

ASX Announcement

& Media Release

23 December 2024

Fast Facts

ASX Code: EMR Shares on issue: 657,045,406 Market Cap: ~A$2.2 billion Cash: A$157.4m (US$109.1m) (30 Sep 2024) Bullion: A$23.4m (US$16.2m) (30 Sep 2024)

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Maiden Gold Resource of 1.01Moz at Dingo Range Gold Project

Highlights

Board & Management

Jay Hughes, Non-Executive Chairman Morgan Hart, Managing Director Mick Evans, Executive Director Ross Stanley, Non-Executive Director Billie Slott, Non-Executive Director Michael Bowen, Non-Executive Director Mark Clements, Company Secretary Bernie Cleary, Operations Manager Okvau Josh Redmond, Operations Manager DRGP Brett Dunnachie, Chief Corporate Officer Shannon Campbell, Chief Financial Officer

Company Highlights

Team

 Highly credentialed gold project operational and in-house development team;

A proven history of building projects on time and on budget.

Gold Production

Okvau Gold Mine commissioned on time on budget in 2021;
2024 production guidance achieved of +100,000oz gold production

Growth

 Significant exploration and resource growth potential in Cambodia:

Okvau Gold Mine reserve expansion;
Memot Project (100%) open pit inferred resource of 19.5Mt @ 1.65g/t Au for
1.03Moz
1,428km[2] of prospective tenure
Significant exploration and resource growth potential in Australia:
Dingo Range Project located on the underexplored Dingo Range greenstone belt
Dingo Range maiden open pit inferred resource of 28.0Mt @ 1.13g/t Au for 1.01Moz
~950km[2] of prospective tenure

ESG

Focussed on a net positive impact on nearmine environmental and social values by targeting strict compliance with corporate governance, international guidelines (IFC PS’s) and local laws by engaging and collaborating with all stakeholders.
Commitment to carbon neutral operations in Cambodia
Maiden Dingo Range Gold Project Measured, Indicated and Inferred Mineral Resource Estimate of 28.0Mt @ 1.13g/t Au for 1,010Koz;
Maiden resource includes the Boundary to Bungarra trend and Freeman’s Find Prospects which is constrained only by the drilling completed and remains open at depth and along strike;
Work to date supports Emerald’s view that the Dingo Range Gold Project has the potential to be the Company’s first standalone mining and processing operation in Australia;
+90% metallurgical recoveries anticipated from conventional CIL flow sheet (free milling);
Drilling continues over the prospects in advance of further resource updates throughout 2025;
Feasibility studies continue in advance of commencement of development in 2025;
Various data sets for each calculation were finalised between September and November 2024, subsequent intersections outside of the resource calculation expected to be included in the next update include;
19.0m @ 2.59g/t Au from 75.0m (RC24NPT132);
2.0m @ 15.09g/t Au from 15.0m (RC24FMF030);
5.7m @ 4.50g/t Au from 99.0m (RCDD22NPT030);
6.0m @ 3.90g/t Au from 96.0m (RC24FMF024);
22.0m @ 1.03g/t Au from 105.0m (RC24NPT126);
1.0m @ 21.00g/t Au from 8.0m (RC24HUR077); and
6.0m @ 2.74g/t Au from 112.0m (RC24HUR083).

Emerald’s Managing Director, Morgan Hart, commented:

1 million ounces at the Dingo Range Gold Project. The maiden estimate follows the completion of the 100% takeover of the Project in June 2024.

“The prospects within the resource estimate remain open at depth and along strike. Drilling continues at the Project with the aim of providing regular resource updates throughout 2025.

“Feasibility studies have continued to advance in parallel with the resource calculation and we look forward to providing updates on the outcomes of the studies in early 2025 in advance of development of the Project in 2025.”

Registered Office

1110 Hay Street

West Perth WA 6005

T: +61 8 9286 6300

F: +61 8 6243 0032

W: www.emeraldresources.com.au

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Introduction

In May 2024, the Company announced the successful takeover of Bullseye Mining Limited (subsequently renamed Emerald Resources (WA) Pty Ltd (EMRWA)), with the highly prospective Dingo Range Gold Project (DRGP). The Dingo Range Gold Project is 100% owned by Emerald, consists of 39 exploration licences (including 7 applications) and 4 mining licences covering the majority of the Dingo Range greenstone belt with ~950km² of tenure (refer Figure 1).

Historical exploration drilling before Emerald took ownership, focused on the Boundary-Bungarra trend and only tested to ~110m vertical depth (average). Drilling totalling 84,110m (80,835m RC and 3,275m diamond) completed since 2014 including 34,976m by various previous tenement holders (28,108m RC, 3,865m diamond, 432m AC and 2,571m RAB).

In June 2024, Emerald commenced a drill program to infill the existing areas of known mineralisation and extending a significant portion of the mineralisation at Boundary, Stirling, Neptune and Hurleys Prospects both along strike and to a ~200-250m vertical depth. To date, the Company has completed 1,287 collars (154,595m) on both the resource definition drilling and drill targeting of regional geochemical, geophysical and existing drill targets and successfully identified three new gold prospects, Freeman’s Find, Great Northern and Banjawarn (refer Figure 1 and Figure 8).

Figure 1 | Dingo Range Tenement Map with the prospect locations

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Dingo Range Resource Drill Program

Drilling results to date (current and historical) continue to demonstrate the continuity of mineralisation at depth and along strike.

The Company has utilised one air core, two RC percussion drill rigs and one diamond drill rig to complete the drilling to date, with three to five drill shifts being continuously engaged since late 2022.

The resource drill program has been completed to a nominal drill spacing ranging from 25 x 25m to 25 x 50m with some closer spaced 10 x 10m grids completed to increase the confidence in the grade continuity.

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29 April 2022 Significant intercepts included in the Dingo Range Resource estimation includes:

Boundary

5m @ 60.25g/t Au from 171m (WDDH8)¹;
45m @ 6.07g/t Au from 73m (BDRC058)¹;
27m @ 9.34g/t Au from 153m (BDRC035)¹;
53m @ 3.44g/t Au from 66m (WRC17) (EOH)¹;
47m @ 3.42g/t Au from 93m (BDRD0025)¹;
30m @ 5.16g/t Au from 151m (WDDH10)¹;
19m @ 7.89g/t Au from 58m (BRC1002)¹;
8m @ 17.14g/t Au from 38m (BDRC060)¹;
40m @ 3.17g/t Au from 55m (BDRD0022)¹;
27m @ 4.53g/t Au from 62m (BDRC014)¹;  9m @ 13.55g/t Au from 42m (WDDH1)¹;
30m @ 3.82g/t Au from 179m (BDRD0043)¹;
9m @ 12.55g/t Au from 42m (WRC23)¹;  27m @ 4.07g/t Au from 62m (BDRD0094)¹;
23m @ 4.16g/t Au from 73m (BDRC061)¹;
24m @ 3.88g/t Au from 20m (DRP176) (EOH)¹;
49m @ 1.89g/t Au from 74m (BDRD0061)¹;
45m @ 2.01g/t Au from 62m (BDRD0010)¹;
3.3m @ 111.79g/t Au from 214.7m (DDRE-BDRC017)²;
27.0m @ 9.34g/t Au from 153.0m (DDRE-BDRC035)²;
8.0m @ 17.14g/t Au from 38.0m (DDRE-BDRC060)²;
27.0m @ 4.07g/t Au from 62.0m (DDRE-BDRD0094)²;
23.0m @ 4.16g/t Au from 73.0m (DDRE-BDRC061)²;
3.0m @ 30.36g/t Au from 283.0m (DDRE-BDRC035)²;
34.0m @ 2.21g/t Au from 127.0m (DDRE-BDRC002)²;  9.0m @ 4.40g/t Au from 248.0m (DDRE-BDRC035)²;  10.0m @ 4.44g/t Au from 140.0m (DDRE-BDRC036)²;  3.0m @ 10.59g/t Au from 346.0m (DDRE-BDRC035)².

Bungarra

14m @ 31.46g/t Au from 33m (LAVRD0126)¹;
19m @ 13.41g/t Au from 32m (DRP495)¹;
17m @ 13.28g/t Au from 49m (LAVRD0132)¹;
3m @ 67.37g/t Au from 30m (BFRC15)¹;
5m @ 39.41g/t Au from 31m (LAVRD0133)¹;
9m @ 17.02g/t Au from 33m (BFRC13)¹;
6m @ 23.26g/t Au from 89m (LAVRD0054)¹;
9m @ 15.45g/t Au from 39m (LAVRD0142)¹;
14m @ 9.74g/t Au from 30m (LAVGW0003)¹;
9m @ 14.58g/t Au from 75m (LAVRD0054)¹;
6m @ 19.28g/t Au from 53m (LAVRD0135)¹;  8m @ 12.38g/t Au from 48m (LAVRD0054)¹;  6m @ 16.16g/t Au from 59m (LAVRD0156)¹;  4m @ 23.78g/t Au from 49m (LAVGW0002)¹;  4.0m @ 22.77g/t Au from 67.0m (RC24BGA034)².

Boundary

7.0m @ 4.64g/t Au from 390.0m (DDRE-BDRC035)²;
24.0m @ 1.30g/t Au from 124.0m (DDRE-BDRC035)²;  3.0m @ 10.33g/t Au from 20.0m (DDRE-BDRC060)²;  11.0m @ 16.25g/t Au from 208.0m (RC24BDY146)²;  15.0m @ 5.91g/t Au from 291.0m (RCDD23BDY022)²;  16.6m @ 5.27g/t Au from 202.0m (RCDD23BDY102)²;  20.0m @ 3.68g/t Au from 244.0m (RC23BDY081)²;  24.0m @ 3.04g/t Au from 64.0m (RC23BDY069)²;  38.0m @ 1.65g/t Au from 56.0m (RC22BDY009)²;  3.0m @ 19.09g/t Au from 121.0m (RC23BDY121)²;  43.0m @ 1.17g/t Au from 253.0m (RC23BDY065)²;  7.1m @ 6.91g/t Au from 329.0m (RCDD22BDY001)²;  6.0m @ 7.96g/t Au from 259.0m (RC23BDY121)²;  6.0m @ 8.01g/t Au from 356.0m (RCDD24BDY193)²;  4.0m @ 11.72g/t Au from 162.0m (RC23BDY100)²;  4.0m @ 11.42g/t Au from 92.0m (RC24BDY146)²;  8.9m @ 5.06g/t Au from 313.1m (RCDD23BDY059)²;  18.0m @ 2.43g/t Au from 271.0m (RC23BDY108)²;  2.0m @ 19.55g/t Au from 22.0m (RCDD24BDY201)²;  5.0m @ 7.32g/t Au from 203.0m (DD24BDY170)²;  7.0m @ 4.94g/t Au from 57.0m (RC23BDY103)²;  10.0m @ 3.37g/t Au from 202.0m (RC23BDY121)²;  4.0m @ 9.21g/t Au from 84.0m (RC23BDY121)²;  13.0m @ 2.53g/t Au from 76.0m (RCDD22BDY001)²;  5.0m @ 6.33g/t Au from 100.0m (RC22BDY016)²;  8.0m @ 3.94g/t Au from 78.0m (RC23BDY077)²;  30.0m @ 1.01g/t Au from 238.0m (RC23BDY064)²;  4.0m @ 7.54g/t Au from 231.0m (RC23BDY100)².

Hurleys

12m @ 3.30g/t Au from 13m (HRRD0020)¹;
12m @ 2.77g/t Au from 47m (HRRD0050)¹;
3m @ 9.00g/t Au from 62m (HRRD0062)¹;
9m @ 2.27g/t Au from 64m (HRRD0032)¹;
20.0 m @ 3.20 g/t Au from 137.0 m (RCDD24HUR020)²;
11.0 m @ 3.39 g/t Au from 160.0 m (RC23HUR014)²;  17.0 m @ 2.13 g/t Au from 35.0 m (RCDD23HUR001)².

Stirling

26m @ 5.83g/t Au from 33m (STRD0016)¹;
38m @ 2.62 g/t Au from 16m (SRC7)¹;
31m @ 2.75g/t Au from 35m (STRD0008)¹;  27m @ 2.30g/t Au from 59m (STRD0007)¹;  27m @ 2.25g/t Au from 31m (STRD0019)¹;
25.0m @ 1.87 g/t Au from 40.0 m (RC23STI022)²;
19.0m @ 2.45 g/t Au from 72.0 m (RC23STI012)².

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Neptune

26m @ 6.95g/t Au from 40m (NPRD0039)¹;
16m @ 10.10g/t Au from 63m (NPRD0026)¹;
25m @ 5.24g/t Au from 0m (NPGC0053)¹;
17m @ 7.44g/t Au from 29m (NPRD0007)¹;
33m @ 3.82g/t Au from 37m (NPMD1019)¹;

Freeman’s Find

  - 5m @ 20.61g/t Au from 33m (RC24FMF001)²;

  - 1m @ 101g/t Au from 36m (RC24FMF001)²;

  - 21m @ 3.98g/t Au from 26m (RC24FMF009)²;

  - 1m @ 49.9g/t Au from 29m (RC24FMF009)²;

  - 1m @ 43.2g/t Au from 3m (RC24FMF013)².

40m @ 2.98g/t Au from 14m (NPGC0025)¹;
22m @ 4.87g/t Au from 17m (NPRD0056)¹;
15m @ 6.60g/t Au from 67m (NPMD1007)¹;
3m @ 29.85g/t Au from 45m (NPMD1026)¹;
6m @ 14.24g/t Au from 37m (NPGC0018)¹;
9m @ 9.44g/t Au from 82m (NPRD0078)¹;
9m @ 9.36g/t Au from 7m (NPGC0045)¹.
9.0m @ 7.35g/t Au from 59.0m (RCDD22NPT027)²;
12.0m @ 4.94g/t Au from 62.0m (RC22NPT003)²;
14.0m @ 2.37g/t Au from 115.0m (RC22NPT020)²;
15.0m @ 2.48g/t Au from 108.0m (RC22NPT004)²;
28.0m @ 1.11g/t Au from 96.0m (RC22NPT018)²;
32.0m @ 0.92g/t Au from 92.0m (RC22NPT006)²;
2.0m @ 72.00g/t Au from 109.0m (DDRE-NPRD0021)²;
9.0m @ 6.29g/t Au from 74.0m (DDRE-NPRD0042)²;
37.5m @ 1.04g/t Au from 108.5m (DDRE-NPRD0061)²;
18.0m @ 1.80g/t Au from 11.0m (DDRE-NPGC0041)².
1 Historical Data
2 Drilling completed by Emerald Resources (WA) Pty Ltd

Refer ASX announcements 30 October 2024, 29 July 2024, 18 April 2024, 24 January 2024, 30 October 2023, 4 July 2023, 28 April 2023, 31 January 2023, 7 October 2022, 5 July 2022.

The Dingo Range Maiden Gold Resource Estimates are constrained only by the drilling completed and remains open at depth and along strike throughout a significant portion of the prospects (refer Figures 2 through to 6).

The various data sets for each calculation were finalised between September and November 2024, intersections outside of the resource calculation that are expected to be included in the next update to the resource model in 2025 include:

Freeman’s Find

2.0m @ 5.03g/t Au from 90.0m (RC24FMF034)²;
6.0m @ 3.90g/t Au from 96.0m (RC24FMF024)³; and
2.0m @ 15.09g/t Au from 15.0m (RC24FMF030)³.

Neptune

19.0m @ 2.59g/t Au from 75.0m (RC24NPT132)¹;
5.7m @ 4.50g/t Au from 99.0m (RCDD22NPT030)¹;
22.0m @ 1.03g/t Au from 105.0m (RC24NPT126)¹; and
9.0m @ 1.54g/t Au from 74.0m (RC24NPT126)¹;

Hurleys

4.0m @ 2.51g/t Au from 33.0m (RC24HUR074)¹;
6.0m @ 2.74g/t Au from 112.0m (RC24HUR083)¹; and
1.0m @ 21.00g/t Au from 8.0m (RC24HUR077)¹.
1 Refer Appendix 1;
2 Refer ASX announcement on 30 October 2023; 3 Refer ASX announcement on 29 July 2023.

Work to date supports Emerald’s view that the Dingo Range Gold Project has the potential to be the Company’s first standalone mining and processing operation in Australia. Feasibility studies continue in advance of a development decision in early 2025 and anticipated commencement of development in 2025. Water exploration drill programs targeting potential water supply and proposed infrastructure sterilisation drilling for the planned development have commenced as part of the feasibility work.

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29 April 2022 Figure 2 | Current drilling completed on Boundary/Neptune and Stirling Deposits (Plan view)

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Figure 3 | Current drilling completed on Hurleys and Bungarra Deposits (Plan view)

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29 April 2022 Figure 4 | Current drilling completed on Freeman’s Find with slice of Resource Estimate of Au greater than 0.45g/t Au at 50m Depth. (Plan view)

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Figure 5 | Cross section of the Boundary Gold Project with the indicated (green) and inferred (red) resource block model. Significant intercepts from historical drilling are highlighted in black and drilling completed by EMRWA, is highlighted in blue

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29 April 2022

Figure 6 | Boundary, Neptune and Stirling gram metre plot (oblique long section)

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29 April 2022 Figure 7 | Hurleys and Bungarra-Boundary, Stirling and Neptune gram metre plot (oblique long section)

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Dingo Range Gold Project 2024 Maiden Resource Estimation Summary

The combined Measured, Indicated and Inferred Mineral Resource is 28.0Mt at 1.13g/t Au with 1,010Koz and is reported at a 0.6g/t Au cut-off grade for Measured and a 0.45g/t Au cut-off grade for Indicated and Inferred, as summarised in Table 1. The Mineral Resource estimates are reported in accordance with the 2012 Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code).

Table 1 | Dingo Range Gold Project Indicated and Inferred Resource Estimate (December 2024)

		Measured Resources	Measured Resources	Measured Resources	Indicated Resources	Indicated Resources	Indicated Resources	Inferred Resources	Inferred Resources	Inferred Resources	Total Resources	Total Resources	Total Resources
Resource	Cut Off	Tonnage	Grade	Contained	Tonnage	Grade	Contained	Tonnage	Grade	Contained	Tonnage	Grade	Contained
Type	Au g/t	(Mt)	(g/t Au)	Au (Koz)	(Mt)	(g/t Au)	Au (Koz)	(Mt)	(g/t Au)	Au (Koz)	(Mt)	(g/t Au)	Au (Koz)
Open Pit Stockpiles	0.60	0.2	0.90	6	-	-	-	-	-	-	0.2	0.90	10
Dingo
Range Gold	0.45	-	-	-	15.3	1.13	560	12.4	1.12	450	27.7	1.13	1,010
Deposits
Total		0.2	0.90	6	15.3	1.13	560	12.4	1.12	450	28.0	1.13	1,010

*tonnage is rounded to the nearest 100,000t, grade is rounded to the second decimal point and ounces are rounded to the nearest 10,000oz. Errors of summation may occur due to rounding.

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29 April 2022 Table 2 | Dingo Range Gold Project Indicated and Inferred Resource Estimate at various lower cut-offs (December 2024)

Measured Resources (Lower cut 0.4g/t Au)	Measured Resources (Lower cut 0.4g/t Au)	Measured Resources (Lower cut 0.4g/t Au)		Indicated Resources	Indicated Resources	Indicated Resources	Inferred Resources	Inferred Resources	Inferred Resources	Total	Resources	Resources
Tonnage	Grade	Contained	Cut Off	Tonnage	Grade	Contained	Tonnage	Grade	Contained	Tonnage	Grade	Contained
(Mt)	(g/t Au)	Au (Koz)	Au g/t	(Mt)	(g/t Au)	Au (Koz)	(Mt)	(g/t Au)	Au (Koz)	(Mt)	(g/t Au)	Au (Koz)
0.22	0.9	6	0.40	17.0	1.07	580	13.8	1.05	470	31.0	1.06	1,050
0.22	0.9	6	0.45	15.3	1.13	560	12.4	1.12	450	28.0	1.13	1,010
0.22	0.9	6	0.50	13.9	1.20	540	11.2	1.19	430	25.4	1.19	970
0.22	0.9	6	0.60	11.4	1.34	490	9.4	1.32	400	21.0	1.33	900
0.22	0.9	6	0.70	9.4	1.49	450	7.8	1.45	360	17.5	1.46	820

Resource Parameters

In accordance with ASX Listing Rule 5.8.1, the following summary information is provided for the understanding of the reported estimates of the Resources.

Geology and Geological Interpretation

The Dingo Range Gold Deposits are located within the Dingo Range Greenstone Belt, part of the Archaean Yilgarn Craton in Western Australia. The Yilgarn Craton is one of the world's premier gold provinces, hosting numerous world-class gold deposits. The Dingo Range Greenstone Belt sits within the Kurnalpi Terrane within the wider Eastern Goldfields Superterrane. The Dingo Range Greenstone Belt is dominated by volcanic and sedimentary sequences that have undergone significant deformation and metamorphism. The Dingo Range deposits are hosted within both the Dingo Range and Wonganoo Shear Zones, major regional structures that act as primary conduits for gold-bearing hydrothermal fluids. The deposits are interpreted as structurally controlled, Orogenic style deposits typical of the Western Australian gold fields. The mineralisation is hosted within several lithological units, including banded iron formations, mafic volcanic rocks and intrusive bodies.

Drilling Techniques, Sampling and Assaying

The Dingo Range Gold Project 2024 Maiden Resource Estimate is based on a database of 1,580 drill holes, for a total of 212,411 metres. The database is comprised of 52 diamond holes (8,628m), 1,385 RC drill holes (171,704m), 108 RC with diamond tails (RC 15,506m and diamond 15,216m) and 35 (1,357m) shallow air core collars.

The majority of the drill spacing for the Dingo Range Gold Project 2024 Maiden Resource Estimate is approximate 25 x 25m to 25 x 50m with some closer spaced 10 x 10m grids completed to increase the confidence in the grade continuity (refer Figures 3, 4 and 5).

The diamond core was sampled using half-core where the core is cut in half down the longitudinal axis. The core was predominantly sampled on 1m sample intervals with a minimum sample interval of 0.6m, as determined by a geologist based on viewing potential mineralisation.

Reverse circulation (RC) drilling is used to collect 1m samples split with a cone splitter at the drill rig to produce a 3-5kg sub-sample.

Sample preparation and gold assaying was carried out at commercial off-site laboratories (SGS Kalgoorlie and Bureau Veritas Kalgoorlie), utilising either a 50g or 40g fire assay read by AAS.

Potential for Eventual Economic Extraction

Metallurgical test work results to date from four stages of test programs carried out on the Dingo Range Gold Deposits indicate the gold is free milling and at a grind size of 150 microns has mostly exhibited very high gold extractions (above 90%). Gravity gold recovery test work has shown gravity gold recoveries up 80% indicating the processing flowsheet should include a gravity gold recovery circuit to assist in maximising total gold recovery. Test work already completed indicates the ore is amenable to a simple flowsheet of single stage crushing, SAG milling and CIL.

Further test work programs are currently being undertaken to determine the optimal processing flowsheet selection.

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Mineral Resource Estimation

Three-dimensional wireframes were created to delineate the mineralisation and were coded to the block model. Micromine Origin software was used for the creation of mineralisation wireframes, lithological wireframes and the surfaces representing the weathering profiles. The Dingo Range Gold Project mineralisation wireframe models were built using Micromine’s implicit vein modelling tool, using a composite file coded by Emerald technical staff. The wireframes were defined using a nominal cut-off grade of 0.2g/t Au, though where there was sufficient geological evidence, material below this cut-off was included to improve the continuity of the wireframes. Geological logging from drillholes has been used to aid the mineralisation interpretation. Geological continuity has been assumed along strike and down-dip. In the case of Boundary, mineralisation adjacent to the BIF lithology interpretation was constrained by a grade shell constructed by indicator kriging at a 0.2g/t LCOG using indicator variography in a sub horizontal easterly dipping plane. All mineralisation at Bungarra was likewise constrained using identical methodology in the appropriate orientation.

A block model was created to encompass each of the deposits at the Dingo Range Gold Project. Variography was undertaken on domains using Isatis software and that variography was used in Kriging neighbourhood analysis to optimise the block size, search distances and the min/max sample numbers used. Search ellipses were also developed from the variography. The block model grades were estimated using either multiple indicator kriging (MIK), ordinary kriging (OK) or inverse distance squared (ID2) grade interpolation techniques constrained within the mineralisation wireframes. All work was completed in the MGA 94 grid co-ordinate system.

The estimation was completed in up to two passes in the following manner:

Boundary/Neptune MIK domains were estimated using either a minimum of 24 or 36 composites with a maximum of 36 composites throughout. A maximum limit of 6 composites were allowed per drillhole to force the search to include adjacent drillholes. The search ellipsoid radius was set at either 50m or 100m in the major /semi major directions and 15m in the minor direction. The target parent block dimension was 20m X by 25m Y by 10m RL. Where necessary, a second expanded estimation pass was applied with relaxed sample selection criteria to allow a full estimation of all interpreted blocks.

Boundary/Neptune OK domains were estimated using a minimum of 6 composites with a maximum of 12 composites throughout. A maximum limit of 4 composites were allowed per drillhole to force the search to include adjacent drillholes. The search ellipsoid radius was set at 500m in the major /semi major directions and 150m in the minor direction. The target parent block dimension was 5m X by 12.5m Y by 5m RL. Where necessary, a second expanded estimation pass was applied with relaxed sample selection criteria to allow a full estimation of all interpreted blocks.

Stirling OK domains were estimated using a minimum of 6 composites with a maximum of 8 composites throughout. A maximum limit of 3 composites were allowed per drillhole to force the search to include adjacent drillholes. The search ellipsoid radius was set at 100m in the major direction and 30m in the semi major/minor directions. The target parent block dimension was 5m X by 5m Y by 5m RL.

Hurley’s Reward OK domains were estimated using a minimum of 6 composites with a maximum of 8 composites throughout. A maximum limit of 3 composites were allowed per drillhole to force the search to include adjacent drillholes. The search ellipsoid radius was set at 100m in the major/semi major directions and 30m in the minor direction. The target parent block dimension was 10m X by 10m Y by 5m RL.

Bungarra OK domains were estimated using a minimum of 6 composites with a maximum of 8 composites throughout. A maximum limit of 3 composites were allowed per drillhole to force the search to include adjacent drillholes. The search ellipsoid radius was set at 100m in the major/semi major directions and 30m in the minor direction. The target parent block dimension was 10m X by 10m Y by 5m RL. Where necessary, a second expanded estimation pass was applied with relaxed sample selection criteria to allow a full estimation of all interpreted blocks.

Freeman’s Find ID2 domains were estimated using a minimum of 6 composites with a maximum of 12 composites throughout. A maximum limit of 4 composites were allowed per drillhole to force the search to include adjacent drillholes. The search ellipsoid radius was set at 340m in the major direction, 140m in the semi major direction and 45m in the minor direction. The target parent block dimension was 5m X by 5m Y by 2.5m RL.

Top-cuts were applied, where appropriate, to sample composites in the Ordinary Kriged and Inverse Distance Squared estimates. Top cuts were typically light and based on a review of high grades in 3D to assess for potential clustering and an analysis of the decomposition of the gold grade histogram tails.

Bulk density values were adopted from values derived from measurements made on the EMR WA drilled diamond core. Average densities for oxidation profiles were assigned to the block model. Values of 1.80t/m³ for oxide, 2.30t/m[3] for transitional and or 2.75t/m³ for fresh have been applied to the metasediments in the project. Values of 1.80t/m[3] for oxide, 2.30t/m[3] for transitional and 2.60t/m[3] for fresh have been applied to the intrusive lithologies at the project. Values of 2.20t/m[3] for oxide, 2.50t/m[3] for transitional and 3.30t/m[3] have been applied to the banded iron formation lithologies at the project. These values are typical for Archean greenstone lithologies.

Page 10 of 23

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The block model was validated using various techniques including visual checking of domain assay vs block model grade in cross section and plan orientations and swath plots.

Further Exploration Planned

EMRWA has planned an aggressive exploration program for the Dingo Range Gold Project for CY2025.

The exploration program will focus on expanding currently known resources and aiming to discover additional significant resources through methodical and disciplined brownfields and greenfields exploration.

Exploration for CY2025 will include:

Resource Development drilling continuing on the Boundary to Bungarra trend;
Infill and extensional RC and diamond drilling at Freeman’s Find, Great Northern and Banjawarn (refer Figure 8
Broad regional aircore drill programs;
Over 15,000 regional soil samples targeting a greenfields discovery;
Belt scale geophysical surveys both airborne and ground based;
Regional mapping and target assessment work.

EMRWA is looking forward to completing this program of aggressive regional exploration to show the significant prospectivity of the broader Dingo Range Gold Project and further expand on the potential production profile for the Project prior to development.

Figure 8 | Dingo Range Geology Map with the prospect locations

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Page 11 of 23

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29 April 2022 This ASX release was authorised on behalf of the Emerald Board by: Morgan Hart, Managing Director.

For further information please contact

Emerald Resources

Morgan Hart

Managing Director

About Emerald Resources NL

Overview

Emerald is a developer and explorer of gold projects. Emerald’s Okvau Gold Mine in Cambodia was commissioned in June 2021 and in full production by September 2021. Emerald has now poured ~350koz of gold from its Okvau operations.

Emerald has significant exploration and resource growth potential in Cambodia through its holdings in a number of other projects which are made up of a combination of granted mining licences (100% owned by Emerald) and interests in joint venture agreements. Together, Emerald’s interests in its Cambodian Projects covers a combined area of 1,428km².

Emerald has significant exploration and resource growth potential in Australia with its highly prospective Western Australian gold project, the Dingo Range Gold Project which covers ~950km² of the Dingo Range greenstone belt.

Emerald has a highly experienced management team, undoubtedly one of the best credentialed gold development teams in Australia with a proven history of developing projects successfully, quickly and cost effectively. They are a team of highly competent mining engineers and geologists who have overseen the successful development of gold projects in developing countries such as the Bonikro Gold Project in Cote d’Ivoire for Equigold NL and more recently the Okvau Gold Mine in Cambodia.

Table 1 | Okvau Mineral Resource Estimate (refer ASX announcement 29 August 2024)

		Measured Resources	Measured Resources	Measured Resources	Indicated Resources	Indicated Resources	Indicated Resources	Inferred Resources	Inferred Resources	Inferred Resources	Total Resources	Total Resources	Total Resources
Resource	Cut Off	Tonnage	Grade	Contained	Tonnage	Grade	Contained	Tonnage	Grade	Contained	Tonnage	Grade	Contained
Type	Au g/t	(Mt)	(g/t Au)	Au (Koz)	(Mt)	(g/t Au)	Au (Koz)	(Mt)	(g/t Au)	Au (Koz)	(Mt)	(g/t Au)	Au (Koz)
Stockpiles	0.5	3.52	0.84	95	-	-	-	-	-	-	3.52	0.84	95
Open Pit	0.625	-	-	-	6.83	2.08	457	0.05	1.59	3	6.88	2.08	460
Underground	3.0	-	-	-	1.00	6.00	192	1.13	6.00	218	2.13	6.00	410
Total		3.52	0.84	95	7.83	2.58	649	1.18	5.8	221	12.53	2.40	965

*tonnage is rounded to the nearest 10,000t, grade is rounded to the second decimal point and ounces are rounded to the nearest 1,000oz. Errors of summation may occur due to rounding.

Table 2 | Okvau Ore Reserve Estimate (refer ASX announcement 29 August 2024)

Okvau Gold Mine - March 2024 Reserve Estimate	Okvau Gold Mine - March 2024 Reserve Estimate	Okvau Gold Mine - March 2024 Reserve Estimate	Okvau Gold Mine - March 2024 Reserve Estimate
Resources	Tonnage	Grade	Contained
Type	(Mt)	(g/t Au)	Au (Koz)
Proven	3.52	0.84	95
Probable	6.77	2.08	453
Total	10.29	1.66	548

*tonnage is rounded to the nearest 10,000t, grade is rounded to the second decimal point and ounces are rounded to the nearest 1,000oz. Errors of summation may occur due to rounding.

Table 3 | Maiden Memot Gold Project Open Pit Resource Estimate (refer ASX announcement 13 December 2024)

	Memot Gold Project Resource	Memot Gold Project Resource	Memot Gold Project Resource	Estimate
	Measured Resources*			Indicated	Resources*		Inferred Resources*			Total Resources
Au Lower	Tonnage	Grade	Contained	Tonnage	Grade	Contained	Tonnage	Grade	Contained	Tonnage	Grade	Contained
Cut off	(Mt)	(g/t Au)	Au (Koz)	(Mt)	(g/t Au)	Au (Koz)	(Mt)	(g/t Au)	Au (Koz)	(Mt)	(g/t Au)	Au (Koz)
0.7	-	-	-	12.6	1.72	700	6.9	1.52	330	19.5	1.65	1,030

*tonnage is rounded to the nearest 100Kt, grade is rounded to the second decimal point and ounces are rounded to the nearest 10,000oz. Errors of summation may occur due to rounding.

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29 April 2022

Forward Looking Statement

This document contains certain forward-looking statements. These forward-looking statements are not historical facts but rather are based on the Company’s current expectations, estimates and projections about the industry in which Emerald Resources operates, and beliefs and assumptions regarding the Company’s future performance. Words such as “anticipates”, “expects”, “intends”, “plans”, “believes”, “seeks”’ “estimates”, “potential” and similar expressions are intended to identify forward-looking statements. These statements are not guarantees of future performance and are subject to known or unknown risks, uncertainties and other factors, some of which are beyond the control of the Company, are difficult to predict and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements, which reflect the view of Emerald Resources only as of the date of this announcement. The forward-looking statements made in this release relate only to events as of the date on which the statements are made. Emerald Resources will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority. This document has been prepared in compliance with the current JORC Code 2012 Edition and the ASX listing Rules.

The Company believes that is has a reasonable basis for making the forward-looking statements in this announcement, including with respect to any production targets and financial estimates, based on the information contained in this announcement.

Competent Persons Statements

The information in this report that relates to Dingo Range Exploration and Drill Results (Appendix One and Two) is based on information compiled by Mr Keith King, who is an employee to the Company and who is a Member of The Australasian Institute of Mining & Metallurgy. Mr Keith King has sufficient experience which is relevant to the style of mineralisation and type of deposits 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 Keith King has reviewed the contents of this release and consents to the inclusion in this announcement of all technical statements based on his information in the form and context in which it appears.

The information in this report that relates to Mineral Resources for the Dingo Range Gold Project was prepared by Mr Brian Wolfe, Principal Consultant of International Resource Solutions Pty Ltd. Mr Wolfe, who is an independent consultant to the Company, is a Member of the Australian Institute of Geoscientists, and has sufficient experience 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 by the 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Wolfe has reviewed the contents of this release and consents to the inclusion in this announcement of all technical statements based on his information in the form and context in which it appears.

The information in this report that relates to Mineral Resources for the Freeman’s Find and the Dingo Range Stockpiles was prepared by Mr Robert Wilson, who is an employee to the Company and who is a Member of The Australasian Institute of Mining & Metallurgy. Mr Wilson has sufficient experience 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 by the 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Wilson has reviewed the contents of this release and consents to the inclusion in this announcement of all technical statements based on his information in the form and context in which it appears.

No New Information

To the extent that announcement contains references to prior exploration results and Mineral Resource estimates, which have been cross referenced to previous market announcements made by the Company, unless explicitly stated, no new material information is contained. The Company confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcements and, in the case of estimates of Mineral Resources that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed.

Page 13 of 23

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Appendix One | New Drill Results from Recent Drilling at Boundary, Bungarra, Great Northern, Hurleys or Neptune, Freeman’s Find, Gage Roads or Regional Prospects (>2 gram metre Au)

Prospect	Hole Name	Easting	Northing	RL	Azi	Dip	End Depth (m)	From (m)	To (m)	Interv al (m)	Gold g/t
Freeman's Find	RC24FMF060	347,465	6,963,890	489	280	-61	151	56	57	1.0	66.70
Neptune	RC24NPT142	345,264	6,971,223	499	225	-60	181	25	32	7.0	8.08
Neptune	RC24NPT132	345,295	6,971,111	501	225	-60	94	75	94	19.0	2.59
Freeman's Find	RCDD24FMF067	347,466	6,963,965	489	271	-61	261	10	23	13.0	2.45
Freeman's Find	RCDD24FMF067	347,466	6,963,965	489	271	-61	261	114	114.5	0.5	49.50
Neptune	RC24NPT126	345,247	6,971,206	499	223	-60	162	105	127	22.0	1.03
Hurleys	RC24HUR077	348,144	6,969,446	513	45	-60	91	8	9	1.0	21.00
Freeman's Find	RC24FMF065	347,637	6,963,787	488	274	-61	151	104	118	14.0	1.40
Great Northern	RCDD24GRN050	343,303	6,975,412	488	243	-59	354	217.64	223	5.4	3.71
Neptune	RC24NPT128	345,296	6,971,182	500	217	-60	180	2	15	13.0	1.34
Hurleys	RC24HUR083	348,020	6,969,455	512	44	-61	180	112	118	6.0	2.75
Freeman's Find	RC24FMF066	347,586	6,963,795	488	273	-61	151	8	16	8.0	1.78
Neptune	RC24NPT126	345,247	6,971,206	499	223	-60	162	74	83	9.0	1.54
Freeman's Find	RC24FMF069	347,516	6,963,964	489	274	-61	60	33	34	1.0	11.50
Freeman's Find	RCDD24FMF061	347,536	6,963,818	488	268	-61	153	13	23	10.0	1.19
Freeman's Find	RC24FMF064	347,664	6,963,686	487	275	-61	151	55	58	3.0	3.30
Hurleys	RC24HUR074	348,048	6,969,488	511	45	-60	139	33	37	4.0	2.51
Freeman's Find	RC24FMF063	347,517	6,963,891	488	276	-61	151	9	14	5.0	1.73
Freeman's Find	RC24FMF063	347,517	6,963,891	488	276	-61	151	139	143	4.0	2.25
Freeman's Find	RC24FMF060	347,465	6,963,890	489	280	-61	151	66	69	3.0	2.81
Freeman's Find	RCDD24FMF061	347,536	6,963,818	488	268	-61	153	143	149	6.0	1.32
Freeman's Find	RC24FMF064	347,664	6,963,686	487	275	-61	151	85	89	4.0	1.76
Freeman's Find	RCDD24FMF061	347,536	6,963,818	488	268	-61	153	47	48	1.0	6.65
Freeman's Find	RC24FMF060	347,465	6,963,890	489	280	-61	151	93	100	7.0	0.86
Freeman's Find	RC24FMF066	347,586	6,963,795	488	273	-61	151	115	123	8.0	0.77
Neptune	RC24NPT128	345,296	6,971,182	500	217	-60	180	152	153	1.0	5.97
Neptune	RC24NPT131	345,340	6,971,082	501	224	-61	120	96	98	2.0	2.78
Regional	AC24RAC195	349,257	6,968,485	513	225	-60	78	8	12	4.0	1.17
Hurleys	RC24HUR086	348,049	6,969,354	509	49	-61	215	122	129	7.0	0.78
Neptune	RC24NPT126	345,247	6,971,206	499	223	-60	162	150	152	2.0	2.56
Regional	AC24RAC197	344,665	6,972,234	492	270	-60	36	4	8	4.0	0.97
Freeman's Find	RC24FMF064	347,664	6,963,686	487	275	-61	151	94	99	5.0	0.90
Freeman's Find	RC24FMF066	347,586	6,963,795	488	273	-61	151	23	24	1.0	4.05
Freeman's Find	RC24FMF068	347,567	6,963,889	488	274	-61	151	73	76	3.0	1.20
Hurleys	RC24HUR084	347,984	6,969,420	511	48	-61	168	157	161	4.0	1.10
Hurleys	RC24HUR089	348,164	6,969,399	511	39	-61	114	14	15	1.0	4.19
Neptune	RC24NPT127	345,285	6,971,163	500	220	-59	102	73	79	6.0	0.62
Neptune	RC24NPT132	345,295	6,971,111	501	225	-60	94	61	62	1.0	4.19
Neptune	RC24NPT134	345,305	6,971,119	501	219	-61	120	98	100	2.0	2.00
Neptune	RCDD23NPT054	345,321	6,971,319	498	224	-61	322	247	248	1.0	3.75
Freeman's Find	RCDD24FMF067	347,466	6,963,965	489	271	-61	261	48	49	1.0	3.51
Freeman's Find	RCDD24FMF067	347,466	6,963,965	489	271	-61	261	101	103.5	2.5	1.63
Freeman's Find	RC24FMF052	347,149	6,964,384	491	272	-60	151	76	78	2.0	1.71
Freeman's Find	RC24FMF064	347,664	6,963,686	487	275	-61	151	49	50	1.0	3.06

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Prospect	Hole Name	Easting	Northing	RL	Azi	Dip	End Depth (m)	From (m)	To (m)	Interv al (m)	Gold g/t
Freeman's Find	RC24FMF068	347,567	6,963,889	488	274	-61	151	27	29	2.0	1.42
Freeman's Find	RC24FMF068	347,567	6,963,889	488	274	-61	151	122	127	5.0	0.58
Hurleys	RC24HUR078	348,200	6,969,287	508	45	-60	145	70	72	2.0	1.49
Hurleys	RC24HUR086	348,049	6,969,354	509	49	-61	215	24	30	6.0	0.57
Hurleys	RC24HUR086	348,049	6,969,354	509	49	-61	215	97	99	2.0	1.29
Hurleys	RC24HUR089	348,164	6,969,399	511	39	-61	114	0	1	1.0	2.53
Neptune	RC24NPT127	345,285	6,971,163	500	220	-59	102	41	44	3.0	1.00
Neptune	RC24NPT128	345,296	6,971,182	500	217	-60	180	23	24	1.0	2.77
Freeman's Find	RCDD24FMF061	347,536	6,963,818	488	268	-61	153	62	67	5.0	0.68
Great Northern	RCDD24GRN050	343,303	6,975,412	488	243	-59	354	303	304	1.0	2.87
Freeman's Find	RC24FMF052	347,149	6,964,384	491	272	-60	151	127	128	1.0	1.71
Freeman's Find	RC24FMF060	347,465	6,963,890	489	280	-61	151	115	117	2.0	0.79
Freeman's Find	RC24FMF060	347,465	6,963,890	489	280	-61	151	122	123	1.0	1.84
Freeman's Find	RC24FMF063	347,517	6,963,891	488	276	-61	151	24	25	1.0	1.71
Freeman's Find	RC24FMF063	347,517	6,963,891	488	276	-61	151	56	58	2.0	0.85
Gage Roads	RC24GAR012	345,263	6,972,646	495	270	-58	74	49	50	1.0	2.18
Gage Roads	RC24GAR018	345,299	6,972,730	495	275	-60	85	52	54	2.0	0.83
Hurleys	RC24HUR074	348,048	6,969,488	511	45	-60	139	49	52	3.0	0.67
Hurleys	RC24HUR082	348,207	6,969,362	509	43	-61	97	21	24	3.0	0.53
Hurleys	RC24HUR084	347,984	6,969,420	511	48	-61	168	136	137	1.0	2.48
Hurleys	RC24HUR085	348,065	6,969,295	508	53	-61	198	153	155	2.0	0.77
Hurleys	RC24HUR085	348,065	6,969,295	508	53	-61	198	173	176	3.0	0.64
Hurleys	RC24HUR086	348,049	6,969,354	509	49	-61	215	162	163	1.0	1.56
Hurleys	RC24HUR089	348,164	6,969,399	511	39	-61	114	57	58	1.0	1.51
Neptune	RC24NPT126	345,247	6,971,206	499	223	-60	162	55	57	2.0	0.88
Neptune	RC24NPT134	345,305	6,971,119	501	219	-61	120	34	35	1.0	1.62
Neptune	RC24NPT137	345,512	6,970,964	503	225	-60	121	73	75	2.0	0.79
Neptune	RCDD23NPT054	345,321	6,971,319	498	224	-61	322	287	288	1.0	2.10
Freeman's Find	RCDD24FMF061	347,536	6,963,818	488	268	-61	153	31	32	1.0	1.57
Freeman's Find	RCDD24FMF061	347,536	6,963,818	488	268	-61	153	80	84	4.0	0.59
Freeman's Find	RCDD24FMF061	347,536	6,963,818	488	268	-61	153	120	121	1.0	2.00
Freeman's Find	RCDD24FMF067	347,466	6,963,965	489	271	-61	261	135	137	2.0	0.80
Freeman's Find	RCDD24FMF067	347,466	6,963,965	489	271	-61	261	165	168	3.0	0.71
Great Northern	RCDD24GRN050	343,303	6,975,412	488	243	-59	354	262	263	1.0	2.45

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Appendix Two | JORC Code, 2012 Edition | ‘Table 1’ Report

Section 1 Sampling Techniques and Data from Recent Drilling Boundary, Bungarra, Great Northern, Hurleys or Neptune Prospects

or Neptune Prospects	or Neptune Prospects
(Criteria in this section apply to all succeeding sections)
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 30g 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.	• Standards are inserted at regular intervals in sample batches to test laboratory performance. • All reverse circulation (RC) drilling is used to collect both a 4m composite and 1m samples in the precollar. The 4m composite are determined based on areas of known very low or background mineralisation or geological assessment at the rig. The 4m program composites are taken from the excess bagged material off the cone splitter taken every 1m. A spear sampling technique is then used to produce a 3-5kg composite sample. The 1m samples are split with a cone splitter at the drill rig to produce a 3-5kg sub-sample. These 1m samples are submitted after the results of the 4m composites are received to identify the zones of mineralisation. • Diamond core was sampled using half-core where the core is cut in half down the longitudinal axis and sample intervals were determined by the geologist based on lithological contacts, with most of the sample intervals being 1 metre in length. In areas of no mineralised (negligible amounts of alteration/sulphides typically present with mineralisation) a 2m composite was submitted. • The drill program used SGS Laboratories, Kalgoorlie and Bureau Veritas Kalgoorlie for RC and diamond samples: • SGS – samples crushed and milled to <75µm and assayed using fire assay (50g) with additional AAS. • Bureau Veritas – samples crushed and milled to <75µm (90% pass) and assayed using fire assay (40g) with additional AAS.
Drilling techniques	• Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. 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).	• A Schramm 685 drill rig with a 5.5-inch hammer and a Schramm 450 with a 5.375-inch hammer is used for RC drilling. • 5 3/8 hole were used to drill the RC holes. A UDR1000 rig is used to drill NQ2 diamond Core. • All holes were downhole surveyed using a gyroscopic survey tool (a REFLEX GYRO SPRINT-IQ™). A typical downhole survey was taken at 10m depth to the end of hole. All readings showed that down hole deviations were within acceptable limits.
Drill sample recovery	• Method of recording and assessing core and chip sample recoveries and results assessed. • Measures taken to maximise sample recovery and ensure representative nature of the samples. • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	• RC drill sample recovery averaged better than 99%.
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. • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. • The total length and percentage of the relevant intersections logged.	• All RC chips and diamond core is routinely logged (qualitatively) by a geologist, to record details of regolith (oxidation), lithology, structure, mineralization and/or veining, and alteration. All logging and sampling data are captured into a database, with appropriate validation and security features.
Sub-sampling techniques and sample preparation	• If core, whether cut or sawn and whether quarter, half or all core taken. • 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.	• Most samples are dry and there is no likelihood of compromised results due to moisture. • This sample technique is industry standard and is deemed appropriate for the material. • All RC samples were put through a fixed cone splitter at 1m intervals with the sample reduced to between a 2kg to 5kg sample. • The drilling used SGS Laboratories, Kalgoorlie and Bureau Veritas, Kalgoorlie for RC samples: SGS– samples are dried at 105° Celsius, crushed and milled to 85% passing -75µm. Assay was 50g fire assay with AAS finish for gold. Bureau Veritas– samples are dried at 105° Celsius, crushed and milled to 90% passing -75µm. Assay was 40g fire assay with AAS finish for gold.

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ASX Announcement& Media Release 29 April 2022	ASX Announcement& Media Release 29 April 2022
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 (i.e. lack of bias) and precision have been established.	• All samples are sent to the accredited SGS Laboratories, Kalgoorlie 50g fire assay with AAS finish for gold or the accredited Bureau Veritas laboratory in Kalgoorlie for 40g fire assay with AAS finish for gold. These methods have a lower detection limit of 0.01ppm gold. • Industry-standard QAQC protocols are routinely followed for all sample batches sent for assay, which includes the insertion of commercially available pulp CRMs at rate of 1 for every 20 field samples and pulp blanks at a rate of 1 for every 50 field samples. Field duplicates were collected at the rig, directly from the cyclone at a rate of one in every 50 samples for the entire program. • QAQC data are routinely checked before any associated assay results are reviewed for interpretation. • All assay data, including internal and external QA/QC data and control charts of standard, replicate and duplicate assay results, are communicated electronically.
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.	• All field data associated with sampling, and all associated assay and analytical results, are archived in a relational database, with industry-standard verification protocols in place. • The calculations of all significant intercepts (for drill holes) are routinely checked by senior management. • Data verification and validation procedures undertaken included checks on collar position against design and site survey collar pick-ups by Licenced contract surveyors. Hole depths were cross-checked in the geology logs, down hole surveys, sample sheets and assay reports to ensure consistency. All down hole surveys were exposed to rigorous QAQC and drill traces were plotted in 3D for validation and assessment of global deviation trends.
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.	• The grid system used is MGA_94. The creation of the topographic surface is based on a site survey pick-up in March 2014 by GEMS (Glockner Engineering and Mining Services, licenced Australian surveyors) and again in July 2014, August 2015, August 2017, December 2023 and July 2024 of all drill holes and surface contour points in GDA_94. • Collars drilled prior to 20 December 2023 have been picked up using Trimble RTK DGPS by Insight UAS authorised surveyors. Drillholes drilled after 4 July 2024 have been picked up using a hand GPS. These collars will continue to be picked up using DGPS in future survey campaigns. It is the intention to use a licenced surveyor with DGPS equipment to pick up relevant collars prior to any resource calculation. • All drill holes were downhole surveyed using a gyroscopic survey tool (a REFLEX GYRO SPRINT-IQ™) and are routinely undertaken at~5m intervals for the drilling.
Data spacing and distribution	• 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.	• This drill spacing is considered to be sufficient to establish geological and grade continuity appropriate for the declaration of estimates of resources. • The drill program adopted a standard sample length of 1.0m.
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. • 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.	• Drill holes are usually designed to intersect target structures with a “close-to-orthogonal” intercept. • Most of the drill holes intersect the mineralised zones at sufficient angle for the risk of significant sampling orientation bias to be low.
Sample security	• The measures taken to ensure sample security.	• All RC samples were sampled as single 1m calico samples, each with a unique sample number. These calicos were collected from the drill sites in allotments of 1 tonne bulka bags. These bulka bags were loaded by field staff and delivered to SGS Kalgoorlie or Bureau Veritas by road transport supplied by the relevant laboratory. Zones of waste a sampled as a composite sample using the spear sampling technique. If the composite returns an anomalous value, the individual 1m samples (collected and stored at the time of drilling) are submitted for analysis. • Soil sample preparation is carried out at a commercial off- site laboratory (Bureau Veritas Canning Vale, Australia). Gold and multi-element assays are conducted at Bureau Veritas Canning Vale laboratory, utilising a 40-gram subsample of 90% passing 75µm pulped sample digested by Aqua Regia and analysed by ICP-MS or ICP-AES.
Audits or reviews	• The results of any audits or reviews of sampling techniques and data.	• All QAQC data are reviewed routinely, batch by batch, and on a quarterly basis to conduct trend analyses, etc. Any issues arising are dealt with immediately and problems resolved before results are interpreted and/or reported. • Emerald employee, Keith King completed his most recent lab audit of both the SGS Kalgoorlie and Bureau Veritas Kalgoorlie laboratories in September 2023. • Keith King regularly attends the Dingo Range Gold Project and inspects all drilling and sampling practices taking place.

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Section 2 Reporting of Exploration Results from Boundary, Bungarra, Great Northern, Hurleys or Neptune Prospects

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

Criteria	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.	• The prospects within the Dingo Range Gold Project are 100% held by Emerald Resources NL’s wholly owned subsidiary, Emerald Resources (WA) Pty Ltd or by its wholly owned subsidiaries. • The tenure is considered to be secure.
Exploration done by other parties	• Acknowledgment and appraisal of exploration by other parties.	• Historical drilling was conducted between 1989 – 2005 by companies Julia Mines NL, Eagle Mining NL, Deep Yellow NL and Korab Resources Ltd.
Geology	• Deposit type, geological setting and style of mineralisation.	• Geology comprises a basalt country rock and BIF with intrusions of various composition and ages. All Dingo Range Gold Project prospects are associated with an approximately 45 degrees to subvertical dipping mineralised lode (or sheets) that have formed in association with the basalt/BIF contact and Orogenic hydrothermal mineralisation typical of the WA goldfields. Gold Mineralisation is as shallow as a few metres below surface, extends to some 300m below surface and is open at depth. • The weathering profile displays a surface laterite, followed by clay/saprolite weathering predominately in association with the weathered basalt. Saprock is encountered earlier in association with weathered BIF. Global fresh rock is encountered from 70m down hole, but weathering is not well advanced at Neptune and hard saprock and fresh rock are encountered in more shallow horizons.
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 meters) of the drill hole collar; - dip and azimuth of the hole; - down hole length and interception depth; - hole length. If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	• Details of significant drilling results are shown in Appendix One.
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. • 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. • The assumptions used for any reporting of metal equivalent values should be clearly stated.	• No high-grade top cuts have been applied. • The reported significant intersections in Appendix One are above 2 gram metre intersections and allow for up to 4m of internal dilution with a lower cut trigger values of greater than 0.5g/t.
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. • 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’).	• All reported intersections are down hole lengths. True widths are unknown and vary depending on the orientation of target structures.
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.	• Appropriate maps and sections are included in the body of this release.
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.	• All significant drilling results being intersections with a minimum 2 gram metre values are reported in Appendix One.
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.	• Surface geological mapping and detailed structural interpretation have helped inform the geological models.
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	• Additional drilling programs are being planned across all exploration licences.

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ASX Announcement& Media Release 29 April 2022	ASX Announcement& Media Release 29 April 2022
Criteria	Explanation	Commentary
	and future drilling areas, provided this information is not commercially sensitive.

Section 3 Estimation and Reporting of Mineral Resources

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

Criteria	Explanation	Commentary
Database integrity	• Measures taken to ensure that data has not been corrupted by, for example, transcription or keying errors, between its initial collection and its use for Mineral Resource estimation purposes. • Data validation procedures used.	• Geological metadata is centrally stored in a SQL database managed using Micromine’s Geobank Software. Emerald employs a database administrator responsible for the integrity of data imported and modified within the system. All geological and field data is entered using logging software with lookup tables and fixed formatting (and protected from modification), thus only allowing data to be entered using the Emerald geological code system and sample protocol. Data is then emailed to the Emerald database administrator for validation and importation into a SQL database using Geobank. Sample numbers are unique and pre-numbered calico sample bags are used. • Following importation, the data goes through a series of digital and visual checks for duplication and non- conformity, followed by manual validation by senior Emerald technical staff.
Site visits	• Comment on any site visits undertaken by the Competent Person and the outcome of those visits. • If no site visits have been undertaken indicate why this is the case.	• A site visit was completed to the Dingo Range Gold Project by Brian Wolfe, Principal Consultant of International Resource Solutions Pty Ltd, on 27 March 2024. • Emerald employee, Robert Wilson regularly conducts site visits to the Dingo Range Gold Project. • A review of the BV an SGS Assay Lab Kalgoorlie and Bureau Veritas Kalgoorlie laboratories was conducted by senior Emerald technical staff in September 2023 and no material issues were identified. • Diamond drilling was being completed during the aforementioned site visit. The drilling and sampling was completed consistent with good industry practice. • The core management facilities were observed and appeared to be organised and well suited to managing the logging and sampling procedure efficiently. • RC drilling was being completed during the site visit. The drilling and sampling protocols were reviewed and are considered to represent good industry practices. • Based on the site reviews, no data quality issues have been identified sufficient to affect the currently designated classification of the resources.
Geological Interpretation	• Confidence in (or conversely, the uncertainty of) the geological interpretation of the mineral deposit. • Nature of the data used and of any assumptions made. • The effect, if any, of alternative interpretations on Mineral Resource estimation. • The use of geology in guiding and controlling Mineral Resource estimation. • The factors affecting continuity both of grade and geology.	• The confidence in the geological interpretation is high. The mineralisation is typically associated with sulphides and quartz veining hosted within igneous and sedimentary lithologies or associated with pyrrhotite in banded iron formations. • At the current drill spacing, the continuity of the interpreted mineralisation wireframes can be considered extended and further drilling is required to confirm the overall continuity. Uncertainty in the mineralisation interpretation is reflected in the MRE classification. • Weathering wireframes representing various oxidation horizons have been interpreted by Emerald technical staff. • Wireframes of the mineralised domains were created by either Emerald technical staff using implicit vein modelling in Micromine or Brian Wolfe in Vulcan. The interpretation was completed to a nominal 0.2g/t cut-off, though where appropriate and justified by geological observation, material below the 0.2g/t cut-off was included to preserve the continuityof the domain.
Dimensions	• The extent and variability of the Mineral Resource expressed as length (along strike or otherwise), plan width, and depth below surface to the upper and lower limits of the Mineral Resource.	• The mineralisation has been delineated for each deposit as listed below: Boundary: Length 1,000m x Width 350m x Depth 400m Neptune: Length 500m x Width 120m x Depth 270m Stirling: Length 180m x Width 30m x Depth 140m Hurley’s Reward: Length 250m x Width 220m x Depth 200m Bungarra: Length 500m x Width 130m x Depth 200m Freeman’s Find: Length 600m x Width 350m x Depth 200m

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ASX Announcement& Media Release 29 April 2022	ASX Announcement& Media Release 29 April 2022
Criteria	Explanation	Commentary
Estimation and modelling techniques	• The nature and appropriateness of the estimation technique(s) applied and key assumptions, including treatment of extreme grade values, domaining, interpolation parameters and maximum distance of extrapolation from data points. If a computer assisted estimation method was chosen, include a description of computer software and parameters used. • The availability of check estimates, previous estimates and/or mine production records and whether the Mineral Resource estimate takes appropriate account of such data. • The assumptions made regarding recovery of by-products.	• Multiple Indicator Kriging (MIK) and Ordinary Kriging (OK) were chosen as the most appropriate estimation methods for all of the estimations within the Dingo Range Open Pit gold resource aside from Freeman’s Find, which was estimated using Inverse Distance Squared (ID2). • The mineralisation domains to constrain the estimation was modelled as described above. • A downhole composite length of 3m has been used in this estimation for all deposits aside from Freeman’s Find, which has been estimated using a downhole composite length of 1m. Each composite is located by their mid-point co-ordinates and assigned a length weighted average gold grade. • The variography applied to grade estimation has been generated using Isatis geostatistical software. Variography was based on individual gold grade domains. • A two-pass estimation strategy was applied to Boundary, Neptune and Bungarra, whereby the second pass utilised expanded sample search neighbourhood parameters to allow successive estimation of the blocks not estimated in the first pass. A single pass estimate was utilised for the smaller deposits at Hurley’s Reward, Stirling and Freeman’s Find. • Sample neighbourhood dimensions and estimation criteria for each deposit and pass are detailed below. Pass 1: Boundary/Neptune MIK: Zone 100: 36/36 min and max samples, 50m search distance in the major direction, maximum of 6 samples used per hole. Block size estimated into is 20m/25m/10m XYZ. Zone 86: 24/36 min and max samples, 100m search distance in the major direction, maximum of 6 samples used per hole. Block size estimated into is 20m/25m/10m XYZ. Zone 87: 24/36 min and max samples, 100m search distance in the major direction, maximum of 6 samples used per hole. Block size estimated into is 20m/25m/10m XYZ. Zone 1: 36/36 min and max samples, 100m search distance in the major direction, maximum of 6 samples used per hole. Block size estimated into is 20m/25m/10m XYZ. Boundary/Neptune OK: Zone 88: 6/12 min and max samples, 500m search distance in the major direction, maximum of 4 samples used per hole. Block size estimated into is 5m/12.5m/5m XYZ. Zone 3: 6/12 min and max samples, 500m search distance in the major direction, maximum of 4 samples used per hole. Block size estimated into is 5m/12.5m/5m XYZ. Zone 4: 6/12 min and max samples, 500m search distance in the major direction, maximum of 4 samples used per hole. Block size estimated into is 5m/12.5m/5m XYZ. Zone 5: 6/12 min and max samples, 500m search distance in the major direction, maximum of 4 samples used per hole. Block size estimated into is 5m/12.5m/5m XYZ. Stirling OK: 6/8 min and max samples, 100m search distance in the major direction, maximum of 3 samples used per hole. Block size estimated into is 5m/5m/5m XYZ. Hurley’s Reward OK: 6/8 min and max samples, 100m search distance in the major direction, maximum of 3 samples used per hole. Block size estimated into is 10m/10m/5m XYZ. Bungarra OK: 6/8 min and max samples, 100m search distance in the major direction, maximum of 3 samples used per hole. Block size estimated into is 10m/10m/5m XYZ. Freeman’s Find ID2: 6/12 min and max samples, 340m search distance in the major direction, maximum of 4 samples used per hole. Block size estimated into is 5m/5m/2.5m XYZ.

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ASX Announcement& Media Release 29 April 2022	ASX Announcement& Media Release 29 April 2022	Page 21 of 23 Commentary Pass 2: Boundary/Neptune MIK: Zone 100: 24/36 min and max samples, 500m search distance in the major direction, maximum of 6 samples used per hole. Block size estimated into is 20m/25m/10m XYZ. Zone 86: 24/36 min and max samples, 200m search distance in the major direction, maximum of 6 samples used per hole. Block size estimated into is 20m/25m/10m XYZ. Zone 87: 18/36 min and max samples, 200m search distance in the major direction, maximum of 6 samples used per hole. Block size estimated into is 20m/25m/10m XYZ. Zone 1: 18/36 min and max samples, 400m search distance in the major direction, maximum of 6 samples used per hole. Block size estimated into is 20m/25m/10m XYZ. Bungarra OK: 6/8 min and max samples, 200m search distance in the major direction, maximum of 3 samples used per hole. Block size estimated into is 10m/10m/5m XYZ. • Where appropriate, composite gold grades were length weighted in the estimate to account for the short or residual composite lengths constrained by the mineralised wireframes. • No by-products were modelled. • Check estimates via Ordinary Kriging were conducted on the MIK estimated domains of the Dingo Range Gold Project MRE. • No check estimates were conducted on the Ordinary Kriged or Inverse Distance Squared estimation domains of the Dingo Range Gold Project. • Historic production data from Bungarra was used to validate the estimate at Bungarra. There is no other available production data for the Dingo Range Gold Project. • No deleterious elements have been estimated or are expected to be important to the project economics\planning at the Dingo Range Gold Project. • A parent block size of 20mE x 25mN x 10mRL was used for MIK grade estimation at Boundary and Neptune. • A parent block size of 5mE x 12.5mN x 5mRL was used for OK grade estimation at Boundary and Neptune. • A parent block size of 10mE x 10mN x 5mRL was used for OK grade estimation at Hurley’s Reward and Bungarra. • A parent block size of 5mE x 5mN x 5mRL was used for OK grade estimation at Stirling. • A parent block size of 5mE x 5mN x 2.5mRL was used for ID2 grade estimation at Freeman’s Find. • Where appropriate, blocks were sub-blocked for block model volume resolution. • The topography surface was generated using data collected from a UAV (drone) survey referencing established survey control. • The selected block size for the estimate may approximate a potential SMU. • No correlated variables have been estimated. • The grade estimate is based on mineralisation domains which have been interpreted based on a geological logging interpretation of each deposit and a nominal 0.2g/t Au lower cut-off grade. Grade was estimated within each domain. The mineralisation constraints have been used as hard boundaries for grade estimation wherein only composite samples within that domain are used to estimate blocks coded as within that domain. • A review of the composite data captured within the mineralisation constraints was completed to assess the need for high-grade cutting (capping). This assessment was completed both statistically and spatially to determine if the high-grade data clusters or were isolated. Based on the investigation, appropriate top cuts were applied to each mineralised domain and are detailed below. Boundary (Zone 3): 5g/t Bungarra: 35g/t Stirling: 8g/t Hurley’s Reward: 7g/t Freeman’s Find: 30g/t • The grade estimates were statistically and visually validated prior to acceptance.
Criteria	Explanation	Commentary
		Pass 2: Boundary/Neptune MIK: Zone 100: 24/36 min and max samples, 500m search distance in the major direction, maximum of 6 samples used per hole. Block size estimated into is 20m/25m/10m XYZ. Zone 86: 24/36 min and max samples, 200m search distance in the major direction, maximum of 6 samples used per hole. Block size estimated into is 20m/25m/10m XYZ. Zone 87: 18/36 min and max samples, 200m search distance in the major direction, maximum of 6 samples used per hole. Block size estimated into is 20m/25m/10m XYZ. Zone 1: 18/36 min and max samples, 400m search distance in the major direction, maximum of 6 samples used per hole. Block size estimated into is 20m/25m/10m XYZ. Bungarra OK: 6/8 min and max samples, 200m search distance in the major direction, maximum of 3 samples used per hole. Block size estimated into is 10m/10m/5m XYZ. • Where appropriate, composite gold grades were length weighted in the estimate to account for the short or residual composite lengths constrained by the mineralised wireframes. • No by-products were modelled. • Check estimates via Ordinary Kriging were conducted on the MIK estimated domains of the Dingo Range Gold Project MRE. • No check estimates were conducted on the Ordinary Kriged or Inverse Distance Squared estimation domains of the Dingo Range Gold Project. • Historic production data from Bungarra was used to validate the estimate at Bungarra. There is no other available production data for the Dingo Range Gold Project.
	• Estimation of deleterious elements or other non-grade variables of economic significant (eg Sulphur for acid mine drainage characterization). • In the case of block model interpolation, the block size in relation to the average sample spacing and the search employed. • Any assumptions behind modelling of selective mining units. • Any assumption about correlation between variables. • Description of how the geological interpretation was used to control the resource estimates. • Discussion of basis for using or not using grade cutting or capping. The process of validation, the checking process used, the comparison of model data to drillhole data, and use of reconciliation data if available.	• No deleterious elements have been estimated or are expected to be important to the project economics\planning at the Dingo Range Gold Project. • A parent block size of 20mE x 25mN x 10mRL was used for MIK grade estimation at Boundary and Neptune. • A parent block size of 5mE x 12.5mN x 5mRL was used for OK grade estimation at Boundary and Neptune. • A parent block size of 10mE x 10mN x 5mRL was used for OK grade estimation at Hurley’s Reward and Bungarra. • A parent block size of 5mE x 5mN x 5mRL was used for OK grade estimation at Stirling. • A parent block size of 5mE x 5mN x 2.5mRL was used for ID2 grade estimation at Freeman’s Find. • Where appropriate, blocks were sub-blocked for block model volume resolution. • The topography surface was generated using data collected from a UAV (drone) survey referencing established survey control. • The selected block size for the estimate may approximate a potential SMU. • No correlated variables have been estimated. • The grade estimate is based on mineralisation domains which have been interpreted based on a geological logging interpretation of each deposit and a nominal 0.2g/t Au lower cut-off grade. Grade was estimated within each domain. The mineralisation constraints have been used as hard boundaries for grade estimation wherein only composite samples within that domain are used to estimate blocks coded as within that domain. • A review of the composite data captured within the mineralisation constraints was completed to assess the need for high-grade cutting (capping). This assessment was completed both statistically and spatially to determine if the high-grade data clusters or were isolated. Based on the investigation, appropriate top cuts were applied to each mineralised domain and are detailed below. Boundary (Zone 3): 5g/t Bungarra: 35g/t Stirling: 8g/t Hurley’s Reward: 7g/t Freeman’s Find: 30g/t • The grade estimates were statistically and visually validated prior to acceptance.

ASX Announcement& Media Release 29 April 2022	ASX Announcement& Media Release 29 April 2022
Criteria	Explanation	Commentary
Moisture	• Whether the tonnages are estimated on a dry basis or with natural moisture, and the method of determination of the moisture content.	• Tonnages are estimated on a dry basis, as described above.
Cut-off parameters	• The basis of the adopted cut-off grade(s) or quality parameters applied.	• The resource model has been designed to be robust for a range of cut-offgrades above 0.30g/t Au.
Mining factors or assumptions	• Assumptions made regarding possible mining methods, minimum mining dimensions and internal (or, if applicable, extraction) mining dilution. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider potential metallurgical methods, but the assumptions made regarding mining methods and parameters when estimating Mineral Resources may not always be rigorous. Where this is the case, this should be reported with an explanation of the basis of the miningassumptions made.	• The resource model assumes open cut mining is completed and assumes a moderate level of mining selectivity (eg. SMU dimension of 5mE x 12.5mN x 5mRL) is achieved in mining. This level of mining selectivity is consistent with the grade control approach, but mining modifiers are required to account further for ore loss and dilution. • It has been assumed that high quality close spaced grade control will be applied to ore/waste delineation processes using RC drilling, or similar, applying a pattern sufficient to ensure adequate coverage of the mineralisation zones.
Metallurgical factors or assumptions	• The basis for assumptions or predictions regarding metallurgical amenability. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider potential metallurgical methods, but the assumptions regarding metallurgical treatment processes and parameters made when reporting Mineral Resources may not always be rigorous. Where this is the case, this should be reported with an explanation of the basis of the metallurgical assumptions made.	• Emerald undertook preliminary metallurgical testwork on the Dingo Range Gold Project. Initial bottle-roll results indicate recoveries of ~92%. • Further detailed metallurgical studies have confirmed the free milling nature of the orebody. Test work results to date from four stages of test programs carried out on the Dingo Range Gold Deposits indicate the gold is free milling and at a grind size of 150 microns has mostly exhibited very high gold extractions (above 90%). Gravity gold recovery test work has shown gravity gold recoveries up 80% indicating the processing flowsheet should include a gravity gold recovery circuit to assist in maximising total gold recovery. Test work already completed indicates the ore is amenable to a simple flowsheet of single stage crushing, SAG milling and CIL. • The mineralogy is typical of other Orogenic gold deposits in the WA goldfields. • Further metallurgical test work will be completed to refine the final process flow sheet for the Dingo Range Gold Projectprior to development.
Environmental factors or assumptions	• Assumptions made regarding possible waste and process residue disposal options. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider the potential environmental impacts of the mining and processing option. While at this stage the determination of potential environmental impact, particularly for a greenfields project, may not always be well advanced, the status of early consideration of these potential environmental impacts should be reported. Where these aspects have not been considered this should be reported with an explanation of the environmental assumptions made.	• Waste rock from open pit operations would be placed in waste rock landforms adjacent to open pit operations, progressively contoured and revegetated throughout mine life. Process plant residue would be disposed of in a surface tailings storage facility (TSF). Adoption of an upstream, central decant design would utilise mine waste material for dam wall construction and facilitate water recovery to supplement process water requirements. It is expected that sufficient volumes of oxide material, able to be made sufficiently impermeable, will be available in the overburden stream to enable acceptable TSF construction. • Further environmental impact studies will be completed as part of upcoming scoping studies for the Dingo Range Gold Project.
Bulk density	• Whether assumed or determined. If assumed, the basis for the assumptions. If determined, the method used, whether wet or dry, the frequency of the measurements, the nature, size and representativeness of the samples. • The bulk density for bulk material must have been measured by methods that adequately account for void spaces (vugs, porosity, etc.), moisture and differences between rock and alteration zones within the deposit. • Discuss assumptions for bulk density estimates used in the evaluation process of the different materials.	• Dry bulk density measurements were taken from selected core samples and measured using the Archimedes method. • Mean density values were applied to the Dingo Range Gold Project MRE. • Values of 1.80t/m³ for oxide, 2.30t/m3for transitional and or 2.75t/m³ for fresh have been applied to the metasediments in the project. Values of 1.80t/m3for oxide, 2.30t/m3for transitional and 2.60t/m3for fresh have been applied to the intrusive lithologies at the project. Values of 2.20t/m3for oxide, 2.50t/m3for transitional and 3.30t/m3 have been applied to the banded iron formation lithologies at the project. • These values are considered to be typical for Archean greenstone lithologies.
Classification	• The basis for the classification of the Mineral Resources into varying confidence categories. • Whether appropriate account has been taken of all relevant factors (i.e. Relative confidence in tonnage/grade estimations, reliability of input data, confidence in continuity of geology and metal values, quality, quantity and distribution of the data). • Whether the result appropriately reflects the Competent Person’s view of the deposit.	• The estimate has been classified as Indicated and Inferred based on the quality of the data collected, the density of data, the confidence of the geological model and mineralisation model, and the estimation quality. • Block grade estimates have been classified primarily using distance to drillhole criteria that vary depending on the confidence in lithological and mineralisation interpretation for individual domains and deposits. In general terms, blocks that are within 20m to 25m of the nearest informing drilling and that have average distances of 50m or less to all informing composites have been categorised as an Indicated Mineral Resource. Remaining estimated blocks that were within an average distance to all informing composites of 50m to 90m have been categorised as Inferred. This approach has ensured that only the areas that have been drilled at an appropriate spacing have been categorised as Indicated.

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Criteria	Explanation	Commentary
		• Estimates at Freeman’s Find with an average distance of less than 60m to all informing composites have been categorised as an have been classified an Inferred Mineral Resource. This approach has ensured that only the areas that have been drilled at an appropriate spacing have been categorised. • The result appropriately reflects the relevant Competent Person’s view of the deposit.
Audits or reviews	• The results of any audits or reviews of Mineral Resource estimates.	• The Dingo Range Gold Project MRE has been reviewed internally by senior Emerald technical staff. • No external audits or reviews have been completed on the Dingo Range Gold Project MRE.
Discussion of relative accuracy/ confidence	• Where appropriate, a statement of the relative accuracy and confidence level in the Mineral Resource estimate using an approach or procedure deemed appropriate by the Competent Person. For example, the application of statistical or geostatistical procedures to quantify the relative accuracy of the resource within stated confidence limits, or, if such an approach is not deemed appropriate, a qualitative discussion of the factors that could affect the relative accuracy and confidence of the estimate. • The statement should specify whether it relates to global or local estimates, and, if local, state the relevant tonnages, which should be relevant to technical and economic evaluation. Documentation should include assumptions made and the procedures used. • These statement of relative accuracy and confidence of the estimate should be compared with production data, where available.	• The Indicated and Inferred classification assigned locally to the estimation is considered appropriate to represent the relative accuracy and confidence. • No quantitative analysis in confidence limits has been undertaken. • The MRE is an undiluted, global estimate. • The estimate was compared against the global change of support for the selected SMU, and both are considered closely matched.

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EMERALD RESOURCES NL — Capital/Financing Update 2024

64849_rns_2024-12-22_6accc302-d93a-4645-b6dc-d9d659ded8e3.pdf

ASX Announcement

& Media Release

Fast Facts

Maiden Gold Resource of 1.01Moz at Dingo Range Gold Project

Highlights

Board & Management

Company Highlights

ESG

Emerald’s Managing Director, Morgan Hart, commented:

Registered Office

Introduction

Dingo Range Resource Drill Program

Boundary

Bungarra

Boundary

Hurleys

Stirling

Neptune

Freeman’s Find

Freeman’s Find

Neptune

Hurleys

Dingo Range Gold Project 2024 Maiden Resource Estimation Summary

Resource Parameters

Geology and Geological Interpretation

Drilling Techniques, Sampling and Assaying

Potential for Eventual Economic Extraction

Mineral Resource Estimation

Further Exploration Planned

Morgan Hart

Managing Director

About Emerald Resources NL

Overview

29 April 2022

Forward Looking Statement

Competent Persons Statements

No New Information

Appendix Two | JORC Code, 2012 Edition | ‘Table 1’ Report

Section 1 Sampling Techniques and Data from Recent Drilling Boundary, Bungarra, Great Northern, Hurleys or Neptune Prospects

More from EMERALD RESOURCES NL

EMERALD RESOURCES NL Capital/Financing Update 2024