EMERALD RESOURCES NL - Capital/Financing Update 2024

ASX Announcement & Media Release

24 January 2024

Fast Facts

ASX Code: EMR Shares on issue: 625,291,978 Market Cap: ~A$1.99 billion Cash: A$115.6m (US$79.0m) (31 Dec 2023) Bullion: A$22.2m (US$15.2m) (31 Dec 2023)

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Significant Gold Exploration Results Continue at Bullseye and Okvau Gold Mine

Highlights

North Laverton Gold Project, Western Australia (Bullseye Mining Limited (EMR ~78.05%))

Board & Management

Jay Hughes, Non-Executive Chairman Morgan Hart, Managing Director Mick Evans, Executive Director Simon Lee AO, Non-Executive Director Ross Stanley, Non-Executive Director Billie Slott, Non-Executive Director Michael Bowen, Non-Executive Director Mark Clements, Non-Executive Director and Company Secretary Bernie Cleary, Operations Manager 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;
Forecast +100,000oz gold production for 2024 at AISC US$780-US$850/oz;

Growth

Significant exploration and resource growth potential in Cambodia: o Okvau Gold Mine reserve expansion; o Memot Project maiden resource: 8Mt @ 1.84g/t for 470koz
1,428km[2] of prospective tenure
Significant exploration and resource growth potential in Australia (Bullseye Mining Limited (~78.05%):

o North Laverton Gold Project located on the underexplored Dingo Range greenstone belt;

Resource and reserve expected early 2024;
1,200km[2] of prospective tenure.

ESG

Focussed on a net positive impact on near-mine 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.

Significant gold mineralisation from Bullseye’s resource exploration program on the Boundary and Neptune Prospects continues to deliver significant results:

3.26m @ 111.79g/t Au from 214.74m including 0.86m @ 422g/t Au from 214.74m (DDRE-BDRC017);
16.6m @ 5.27g/t Au from 202m including 0.4m @ 179g/t Au from 218.2m (RCDD23BDY102);
3m @ 19.09g/t Au from 121m (RC23BDY121);
6m @ 7.96g/t Au from 259m (RC23BDY121); and
4m @ 11.72g/t Au from 162m (RC23BDY100).

The current program follows the previously completed high-grade intersections which include:

5m @ 60.25g/t Au from 171m (WDDH8) – Boundary Prospect;
45m @ 6.07g/t Au from 73m (BDRC058) – Boundary Prospect;
27m @ 9.34g/t Au from 153m (BDRC035) – Boundary Prospect;
53m @ 3.44g/t Au from 66m (WRC17) (EOH) – Boundary Prospect;
22m @ 4.87g/t Au from 17m (NPRD0056) – Neptune Prospect;
26m @ 6.95g/t Au from 40m (NPRD0039) – Neptune Prospect;
16m @ 10.10g/t Au from 63m (NPRD0026) – Neptune Prospect; and
9m @ 9.44g/t Au from 82m (NPRD0078) – Neptune Prospect.

The above results will be integrated into Emerald’s (as manager) maiden resource estimation for the North Laverton Gold Project expected in early 2024.

Okvau Gold Mine (EMR 100%)

Ongoing underground and extensional drilling at the Okvau Gold Mine continues to deliver significant gold mineralisation:

19m @ 5.32g/t Au from 379m including 2m @ 14.03g/t Au from 391m (RCDD23OKV496);
13m @ 7.00g/t Au from 343m including 2m @ 33.11g/t Au from 343m (RCDD23OKV496);
7m @ 6.87g/t Au from 483m including 1m @ 27g/t Au from 485m (RCDD23OKV496); and
4m @ 11.83g/t Au from 278m including 1m @ 37.5g/t Au from 278m (RCDD23OKV503).

Maiden Memot Gold Project (EMR 100%)

Maiden Memot Gold Project Open Pit Inferred Resource of 8Mt @ 1.84g/t Au for 470koz announced 21 December 2023; and
Emerald to ramp up Stage 2 drilling activities (50,000m) in February 2024.

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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North Laverton Gold Project Resource Drill Program (Bullseye Mining Limited (EMR: ~78.05%))

Bullseye’s North Laverton Gold Project consists of 36 exploration licences (including 5 applications) and 4 mining licences covering the majority of the Dingo Range greenstone belt with more than 800km² of tenure (refer Figure 1) and has the potential to host multiple standalone deposits or satellite deposits to supply additional ore to a central milling location. It includes the gold mineralised prospects of Boundary, Neptune, Stirling, Hurleys and Bungarra extending over a 6.4km strike length.

Figure 1 | North Laverton Tenement Map with the prospect locations

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Drilling results to date (current and historical) continue to demonstrate the continuity of mineralisation at depth and along strike. The company still expects to generate an updated resource in early 2024, with subsequent reserve estimation to support a decision to commence development activities later in the same year (2024).

Two RC percussion drill rigs and one Diamond drill rig are currently engaged on site, continuing resource drilling activities and investigating along strike extensions, as well as drilling other regional targets.

In the December 2023 quarter, the Company completed 110 collars (16,994m) of both RC (14,013m) and Diamond core drilling (2,981m). To date 591 collars (75,664m) of the 98,000m resource definition program has been completed, of which 388 collars (60,099m) has been drilled since Emerald acquired a controlling interest in Bullseye. Assays for circa 1,400m of drilling remain pending.

Recently returned results from the current RC and diamond drilling program for the Boundary Project include:

3.26m @ 111.79g/t Au from 214.74m including 0.86m @ 422.00g/t Au from 214.74m (DDRE-BDRC017)[(6)]
16.6m @ 5.27g/t Au from 202m including 0.4m @ 179.00g/t Au from 218.2m (RCDD23BDY102)[(6)] ;
3m @ 19.09g/t Au from 121m (RC23BDY121)[(6)] ;
6m @ 7.96g/t Au from 259m (RC23BDY121)[(6)] ; and
4m @ 11.72g/t Au from 162m (RC23BDY100)[(6)]

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29 April 2022 Drilling completed under Emerald management to date, has focussed on the Boundary and Neptune prospects of the Boundary-Bungarra mineralised trend (refer Figure 2) with highlighted significant results including:

15m @ 5.91g/t Au from 291m (RCDD23BDY022)[(4)] ;
9m @ 7.35g/t Au from 59m including 1m @ 58.27g/t Au from 61m and 1m @ 16.02g/t Au from 73m (RC22NPT027)[(2)] ;
38m @ 1.65g/t Au from 56m including 1m @ 16.60g/t Au from 92m (RC22BDY009)[(2)] ;
12m @ 4.94g/t Au from 62m including 1m @ 9.07g/t Au from 69m and 1m @ 42.90g/t Au from 72m (RC22NPT003)[(1)] ;
43m @ 1.17g/t Au from 253m (RC23BDY065)[(4)] ;
7.08m @ 6.91g/t Au from 329m (RCDD22BDY001)[(4)] ;
8.88m @ 5.06g/t Au from 313.12m (RCDD23BDY059)[(4)] ;
15m @ 2.48g/t Au from 108m including 1m @ 7.39g/t Au from 116m and 2m @ 7.79g/t Au from 118m (RC22NPT004)[(1)] ;
13m @ 2.54g/t Au from 76m including 1m @ 19.30g/t Au from 81m (RC22BDY001)[(1)] ;
14m @ 2.37g/t Au from 115m including 4m @ 4.63g/t Au from 117m (RC22NPT020)[(2)] ;
5m @ 6.33g/t Au from 100m including 2m @ 14.70g/t Au from 100m (RC22BDY016)[(2)] ;
14m @ 1.98g/t Au from 49m (RC23BDY029)[(3)] ;
4m @ 7.12g/t Au from 22m including 1m @ 25.97g/t Au from 25m (RC23BDY047)[(3)] ;
15m @ 1.13g/t Au from 76m (RC23BDY051)[(3)] ;
5m @ 3.23g/t Au from 54m including 1m @ 14.34g/t Au from 58m (RC23BDY031)[(3)] ; and
3m @ 5.13g/t Au from 352m including 1m @ 13.30g/t Au from 354m (RCDD23BDY041)[(3)] .
24m @ 3.04g/t Au from 64m (RC23BDY069)[(5)] ;
20m @ 3.68g/t Au from 244m including 2m @ 23.27g/t Au from 252m (RC23BDY081)[(5)] ;
19m @ 2.45g/t Au from 72m (RC23STI012)[(5)] ;
8m @ 3.44g/t Au from 202m (RC23BGA013)[(5)] ;
10m @ 3.94g/t Au from 142m (RC23NPT054)[(5)] ; and
17m @ 2.13g/t Au from 35m (RCDD23HUR001)[(5)] .

Notes:

(1) Refer ASX announcement 7 October 2022; (2) Refer ASX announcement 21 January 2023; (3) Refer ASX announcement 28 April 2023; (4) Refer ASX announcement 4 July 2023; (5) Refer ASX announcement 30 October 2023; (6) Refer Appendix One; *Visible Gold was recorded (refer Figure 2).

Figure 2 | Visible gold from RCDD23BDY102 at 218.4m

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Results from drilling to date continue to delineate mineralised high-grade structures. Historical drilling had only tested to ~110m vertical depth (average) with the drilling completed by the Company to date infilling and extending a significant portion of the mineralisation at Boundary and Neptune Prospects to ~200-250m vertical. The mineralisation remains open at depth and along strike throughout a significant portion of the five prospects (refer Figures 3, 4, and 5).

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29 April 2022 Figure 3 | Boundary and Neptune Drill collars with recent (in black – refer Appendix One) and previously announced (in blue) significant results (Plan view)

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Figure 4 | Section A Cross section from the northern edge of the Boundary prospect showing high-grade zones of continuous mineralisation which remains untested in adjacent sections and at depth. All highlighted significant intersections refer Appendix One

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Figure 5 | Section B Cross section in the central zone of the Boundary prospect showing wide, high-grade zones of continuous mineralisation within the granodiorite which is untested at depth. RCDD23BDY102 significant intersection refer Appendix One, others refer to ASX announcement 7 October 2022

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North Laverton Project Historic Significant Intersections (Bullseye Mining Limited (EMR: ~78.05%))

Bullseye’s current resource drill program is designed to test the strike and down dip extension of historic significant intersections. These previous drill programs include 84,028m (80,684m RC and 3,344m diamond) completed by Bullseye since 2014 and 45,583m of drilling completed by various previous tenement holders (34,695m RC, 4,587m diamond, 432m AC and 5,869m RAB), (refer Figure 5). Drill results highlights from both programs include:

Boundary[(1)] :

5m @ 60.25g/t Au from 171m (WDDH8);
45m @ 6.07g/t Au from 73m (BDRC058);
27m @ 9.34g/t Au from 153m (BDRC035);
53m @ 3.44g/t Au from 66m (WRC17) (EOH);
47m @ 3.42g/t Au from 93m (BDRD0025);

Stirling[(1)] :

26m @ 5.83g/t Au from 33m (STRD0016);
38m @ 2.62g/t Au from 16m (SRC7);
31m @ 2.75g/t Au from 35m (STRD0008);
27m @ 2.30g/t Au from 59m (STRD0007);  27m @ 2.25g/t Au from 31m (STRD0019).
30m @ 5.16g/t Au from 151m (WDDH10);
19m @ 7.89g/t Au from 58m (BRC1002);
8m @ 17.14g/t Au from 38m (BDRC060);
40m @ 3.17g/t Au from 55m (BDRD0022);
27m @ 4.53g/t Au from 62m (BDRC014);
9m @13.55g/t Au from 42m (WDDH1);
30m @ 3.82g/t Au from 179m (BDRD0043);

Hurleys[(1)] :

12m @ 3.30g/t Au from 13m (HRRD0020);
12m @ 2.77g/t Au from 47m (HRRD0050);  3m @ 9.00g/t Au from 62m (HRRD0062);  9m @2.27g/t Au from 64m (HRRD0032).
9m @ 12.55g/t Au from 42m (WRC23);
27m @ 4.07g/t Au from 62m (BDRD0094).

Neptune[(2)] :

22m @ 4.87g/t Au from 17m (NPRD0056);
9m @ 9.44g/t Au from 82m (NPRD0078);
33m @ 3.82g/t Au from 37m (NPMD1019);  15m @ 6.60g/t Au from 67m (NPMD1007);
3m @ 29.85g/t Au from 45m (NPMD1026);
25m @ 5.24g/t Au from 0m (NPGC0053);
40m @ 2.98g/t Au from 14m (NPGC0025);
6m @ 14.24g/t Au from 37m (NPGC0018);
9m @ 9.36g/t Au from 7m (NPGC0045).

Neptune[(3)] :

Bungarra[(1)] :

  - **14m @ 31.46g/t Au from 33m (LAVRD0126);**

  - **19m @ 13.41g/t Au from 32m (DRP495);**

  - **17m @ 13.28g/t Au from 49m (LAVRD0132);**

  - **3m @ 67.37g/t Au from 30m (BFRC15);**  **5m @ 39.41g/t Au from 31m (LAVRD0133);**  **9m @ 17.02g/t Au from 33m (BFRC13);**  **6m @ 23.26g/t Au from 89m (LAVRD0054);**  **9m @ 15.45g/t Au from 39m (LAVRD0142);**  **14m @ 9.74g/t Au from 30m (LAVGW0003);**  **9m @ 14.58g/t Au from 75m (LAVRD0054);**  **6m @ 19.28g/t Au from 53m (LAVRD0135).**

26m @ 6.95g/t Au from 40m (NPRD0039);
16m @ 10.10g/t Au from 63m (NPRD0026);
17m @ 7.44g/t Au from 29m (NPRD0007).
(1) Refer ASX announcement 7 October 2022; (2) Refer ASX announcement 5 July 2022; (3) Refer ASX announcement 31 January 2023

Figure 6 | Plan view of Bullseye prospects targeted by the current resource drill program

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Exploration Activities – Cambodian Gold Projects

Emerald’s exploration tenements, which comprise of a combination of five (5) 100% owned granted licences, and a further three (3) subject to joint venture agreements (with EMR earning majority ownership), cover a combined area of 1,428km² in Cambodia.

Figure 7 | Cambodian Gold Project | Exploration Licence Areas

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Okvau Gold Mine (EMR 100%)

In August 2023, the Company released an Okvau Gold Mine resource update which included a maiden underground resource.

Since the update, Emerald has continued to progress an exploration drill program, focusing on infilling and extending the currently open pit and maiden underground resource mineralisation proximally within and beyond the reserve pit shell. This drilling included an additional 37 holes, 22 of which were shallow RC for 3,669m and 15 of which were 3,362.2m of RC PreCollar and 6,406.5m of diamond core tails (refer Figures 8,10 and 11). Significant results received include:

19m @ 5.32g/t Au from 379m including 2m @ 14.03g/t Au from 391m (RCDD23OKV496);
13m @ 7.00g/t Au from 343m including 2m @ 33.11g/t Au from 343m (RCDD23OKV496);
7m @ 6.87g/t Au from 483m including 1m @ 27.00g/t Au from 485m (RCDD23OKV496);
4m @ 11.83g/t Au from 278m including 1m @ 37.50g/t Au from 278m (RCDD23OKV503);
4m @ 9.82g/t Au from 250m (RCDD23OKV497);
1m @ 38.30g/t Au from 340m (RCDD23OKV506);
7m @ 5.11g/t Au from 366m (RCDD23OKV496);
2m @ 17.80g/t Au from 273m (RCDD23OKV502); and
4m @ 6.26g/t Au from 55m (RC23OKV515).

The mineralisation is associated with massive sulphide pyrrhotite, arsenopyrite and pyrite stack vein sets hosted in both diorite and hornfels sedimentary lithologies.

The significant intercepts listed above are either outside the existing resource and likely to extend the known mineralisation or upgrade the classification of inferred material, enhancing our confidence in the existing resource (refer Figure 10 and 11).

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29 April 2022 In addition to the at depth extensional drilling reported above, the Company has also commenced a program of near surface extensional drilling in the northern extent of the existing reserve pit. The close-spaced drilling has returned the following significant results that are interpreted as the up-dip extension of the significant intercept 4m @ 6.26g/t Au from 55m in RC23OKV515 (see Appendix Three). This new zone of mineralisation is being assessed in a local redesign and expansion of the current pit. Intersections from this drill program include (see Appendix Three);

5m @ 23.5g/t Au from 15m (145_825_036);
7m @ 8.98g/t Au from 11m (145_745_008);
7m @ 7.76g/t Au from 16m (145_745_007);
9m @ 3.53g/t Au from 7m (145_825_027);
1m @ 21.24g/t Au from 27m (145_745_007);
2m @ 10.54g/t Au from 24m (145_835_015); and
5m @ 3.90g/t Au from 7m (145_815_025).

Figure 8 | Completed collars of the current Okvau Resource Drill program, plan view

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Figure 9 | Photo of the core from RCDD23OKV496 – 343.5m. The mineralisation in the photos is primarily associated massive arsenopyrite vein, with pyrrhotite, pyrite and some minor chalcopyrite. The metre interval averaged 59.70 g/t Au

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29 April 2022 Figure 10 | Okvau Underground cross section highlighting five significant results in this announcement are either outside the current underground resource calculation, or located in close proximity to inferred classified mineralisation (Refer Appendix Three)

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Figure 11 | Okvau cross section of both near surface extensional resource drilling and exploration drilling under the Stage 7 reserve pit. The significant results in this announcement are outside the current Open Pit resource calculation. For holes beginning with 145 or RC23; see Appendix Three. For all other holes refer to announcement 2 July 2019. Assays above 0.5g/t Au shown

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Antrong Joint Venture (EMR earning up to 80%)

The Company has previously announced a significant gold-in-soil anomaly on the Kang Roland North prospect in the Antrong North Exploration licence (refer ASX announcement 30 October 2023). The interpreted 2.5km by 1.5km +50ppb goldin-soil contour is associated with aeromagnetic geophysical targets, high-grade rock chip results (50.30, 41.00, 32.30, 22.10,16.45 and 15.35g/t Au) and peak shallow soil results of 842, 788, 611, 513, 434, 359 ppb Au (refer Figure 12).

Figure 12 | Antrong North (Kang Roland North prospect) shallow soil and rock chip results completed by Emerald

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Following on from the shallow soil program on the Antrong North Exploration Licence, the Company has continued the Auger soils geochemical sampling, collecting 4,641 samples on the Antrong South Licence (Antrong and O’Thmey Prospects) (refer Figure 14). 5,424 Auger samples have been collected since the program began in 2023, with 880 results pending. Results received to date include 86 samples over 50ppb Au including 2720, 2680, 895, 675, 534, 493 and 427 ppb Au. The results have identified several significant +10ppb Au anomalies over both prospects. Fourteen gold-in-soil anomalies have been interpreted on the Antrong prospect including three at over 1.0 x 0.4km in size and a larger 1.7 x 0.6km anomaly on the O’Thmey prospect (refer Figures 12 and 13).

The initial program commenced in April 2023 and was designed on various grid spacings from 400m x 100m down to 200m x 100m. The current program has infilled down to 50 x 50m grid spacing on the areas with anomalous results. The program was planned to cover an interpreted diorite intrusive associated with aeromagnetic geophysical targets, historic and recently sampled high-grade rock chip (155.50g/t[(1)] , 146.50g/t[(1)] , 120.00g/t[(2)] , 78.0g/t[(1)] , 76.10g/t[(2)] , 64.90g/t[(1)] , 47.80g/t[(1)] , 46.10g/t[(1)] Au) and significant drill hole results[(2) ] such as:

5.7m @ 5.06g/t Au from 30.5m (OTSDD002);
3m @ 6.91g/t Au from 25.2m (OTSDD001);
2m @ 4.16g/t Au from 42m (OTMDD002);
3.1m @ 6.23g/t Au from 20m (ANTDD001);
6m @ 0.57g/t Au from 21m (OTMDD015); and
1m @ 2.1g/t Au from 36m (OTSDD003).
(1) Refer ASX announcement 30 October 2023
(2) Refer ASX announcement 19 October 2022

The Company intends to commence ground geophysics programs across the announced significant anomalies on both the Antrong North (refer ASX announcement 30 October 2023) and Antrong South in early 2024, with reconnaissance drilling expected before the end of the year.

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29 April 2022 Figure 13 | Antrong North and South Licence with historical data including significant rock chips and drill results

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Figure 14 | Antrong South Licence (Antrong and O’Thmey prospects) with recent auger soil results and interpreted soil contours

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29 April 2022 For further information please contact Emerald Resources NL

Morgan Hart Managing Director

About Emerald Resources NL

Overview

Emerald is a developer and explorer of gold projects. In particular, Emerald has been focused on the development and commissioning of its most advanced project, the Okvau Gold Mine in Cambodia which saw first production in June 2021. Since commercial production commenced in September 2021, Emerald has now poured over 8,000kgs of gold doré from its operations.

Emerald also holds a number of other projects in Cambodia which are made up of a combination of granted mining licences (100% owned by Emerald) and interests joint venture agreements. Together, Emerald’s interest in its Cambodian Projects covers a combined area of 1,428km².

Emerald has a controlling interest in Bullseye Mining Limited (~78.05%), an unlisted Australian public company with three Western Australian gold projects totalling in excess of 1,200km² of highly prospective gold tenure including the North Laverton Gold Project which covers in excess of 800km² of the entire Dingo Range greenstone belt.

Table 1 | Okvau Mineral Resource Estimate (refer to announcement 31 August 2023)

				Okvau Gold Project - March 2023 Global Resource Estimate	Okvau Gold Project - March 2023 Global Resource Estimate	Okvau Gold Project - March 2023 Global Resource Estimate	Okvau Gold Project - March 2023 Global Resource Estimate	Okvau Gold Project - March 2023 Global Resource Estimate	Okvau Gold Project - March 2023 Global Resource Estimate	Okvau Gold Project - March 2023 Global Resource Estimate	Okvau Gold Project - March 2023 Global Resource Estimate	Okvau Gold Project - March 2023 Global Resource Estimate
	Measured Resources(i)			Indicated Resources(ii)			Inferred Resources(ii)			Total Resources
Resource	Tonnage	Grade	Contained	Tonnage	Grade (g/t Au)	Contained Au (Koz)	Tonnage (Mt)	Grade (g/t Au)	Contained Au (Koz)	Tonnage	Grade	Contained Au (oz)
Type	(t)	(g/t Au)	Au (oz)	(t)						(t)	(g/t Au)
Open Pit	2,810,000	0.89	80,000	8,360,000	2.24	601,000	70,000	1.71	4,000	11,240,000	1.90	685,000
Underground	-	-	-	600,000	6.20	120,000	910,000	6.35	185,000	1,510,000	6.29	305,000
Total	2,810,000	0.89	80,000	8,960,000	2.50	721,000	980,000	6.01	189,000	12,750,000	2.42	990,000

tonnage is rounded to the nearest 10,000t, grade is rounded to the second decimal pint and ounces are rounded to the nearest 1,000oz

Table 2 | Okvau Ore Reserve Estimate (refer to announcement 31 August 2023)

Okvau Gold Project - March 2023 Global Reserve Estimate	Okvau Gold Project - March 2023 Global Reserve Estimate	Okvau Gold Project - March 2023 Global Reserve Estimate	Okvau Gold Project - March 2023 Global Reserve Estimate

Resource	Tonnage	Grade	Contained Au (oz)
Type	(t)	(g/t Au)
Proven	2,810,000	0.89	80,000
Probable	9,140,000	2.10	618,000
Total	11,950,000	1.82	698,000

*tonnage is rounded to the nearest 10,000t, grade is rounded to the second decimal pint and ounces are rounded to the nearest 1,000oz

Table 3 | Maiden Memot Gold Project Open Pit Resource Estimate (refer to announcement 21 December 2023)

Au Lower Cut off	Memot Gold Project Resource Estimate	Memot Gold Project Resource Estimate	Memot Gold Project Resource Estimate	Memot Gold Project Resource Estimate	Memot Gold Project Resource Estimate	Memot Gold Project Resource Estimate	Memot Gold Project Resource Estimate	Memot Gold Project Resource Estimate	Memot Gold Project Resource Estimate	Memot Gold Project Resource Estimate	Memot Gold Project Resource Estimate	Memot Gold Project Resource Estimate
	Measured Resources Indicated Resources Inferred Resources *Total Resources
	Tonnage Grade Contained Au Tonnage Grade Contained Au Tonnage Grade Contained Au Tonnage Grade Contained Au
	(t) (g/t Au) (oz) (t) (g/t Au) (oz) (t) (g/t Au) (oz) (t) (g/t Au) (oz)
0.9	-	-	-	-	-	-	8,000,000	1.84	470,000	8,000,000	1.84	470,000

*tonnage is rounded to the nearest 100Kt, grade is rounded to the second decimal point and ounces are rounded to the nearest 10,000oz

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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. Reference is made to ASX Announcements dated 1 May 2017 and 26 November 2019. All material assumptions underpinning the production target, or the forecast financial information continue to apply and have not materially changed. 100% of the production target referred to in this announcement is based on Probable Ore Reserves.

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, Regis Resources Ltd.

Competent Persons Statements

The information in this report that relates to Exploration and Drill Results from Bullseye Recent Drilling (Appendix One) and Cambodian Recent Drilling (Appendix Three) 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.

Mr King has reviewed the contents of this news 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 12 of 27

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Appendix One | New Drill Results from Recent Drilling at Bungarra, Stirling, Hurleys, Neptune and Boundary Prospects (Bullseye) (>2 gram metre)

Prospect	Hole Name	Easting	Northing	RL	Azi	Dip	End Depth (m)	From (m)	To (m)	Interval (m)	Gold g/t
Boundary	DDRE-BDRC017	345,247	6,972,013	493	-61	268	327	214.74	218	3.3	111.79
	including	345,247	6,972,013	493	-61	268	327	214.74	215.6	0.9	422.00
Boundary	RCDD23BDY102	345,323	6,971,894	494	-67	273	359	202	218.6	16.6	5.27
	including	345,323	6,971,894	494	-67	273	359	218.2	218.6	0.4	179.00
Boundary	RC23BDY121	345,283	6,971,977	494	-61	265	300	121	124	3.0	19.09
Boundary	RC23BDY121	345,283	6,971,977	494	-61	265	300	259	265	6.0	7.96
Boundary	RC23BDY100	345,338	6,971,991	494	-60	273	300	162	166	4.0	11.72
Stirling	RC23STI022	345,846	6,970,676	507	-61	227	97	40	65	25.0	1.87
	including	345,846	6,970,676	507	-61	227	97	58	59	1.0	16.09
Boundary	RCDD23BDY069	345,283	6,971,860	494	-61	272	280	78	107	29.0	1.56
	including	345,283	6,971,860	494	-61	272	280	85.5	86.2	0.7	24.53
Boundary	RC23BDY108	345,372	6,972,047	496	-63	266	300	271	289	18.0	2.43
	including	345,372	6,972,047	496	-63	266	300	279	280	1.0	24.20
Neptune	DDRE-NPRD0061	345,250	6,971,234	499	-60	220	219	108.52	146	37.5	1.04
Boundary	RCDD23BDY069	345,283	6,971,860	494	-61	272	280	177.45	178.55	1.1	33.98
Boundary	RC23BDY121	345,283	6,971,977	494	-61	265	300	84	88	4.0	9.21
Boundary	RC23BDY103	345,270	6,971,965	494	-61	265	122	57	64	7.0	4.94
Boundary	RC23BDY121	345,283	6,971,977	494	-61	265	300	202	212	10.0	3.37
Boundary	RC23BDY100	345,338	6,971,991	494	-60	273	300	231	235	4.0	7.55
Boundary	DDRE-BDRC002	345,314	6,971,943	494	-61	268	353	308.3	309.65	1.4	21.71
Boundary	DDRE-BDRC047	345,261	6,972,040	493	-61	267	301	247	255	8.0	3.38
Boundary	RC23BDY104	345,408	6,972,003	496	-60	266	300	213	214	1.0	25.10
Boundary	DDRE-BDRC036	345,379	6,971,949	494	-60	268	435	281	281.38	0.4	62.60
Boundary	RC23BDY104	345,408	6,972,003	496	-60	266	300	115	128	13.0	1.74
Boundary	RCDD23BDY087	345,408	6,971,852	495	-61	270	351	76	90	14.0	1.57
Boundary	RC23BDY088	345,363	6,971,797	495	-60	273	300	71	79	8.0	2.55
Boundary	DDRE-BDRC036	345,379	6,971,949	494	-60	268	435	241	251	10.0	1.98
Boundary	RC23BDY108	345,372	6,972,047	496	-63	266	300	245	263	18.0	1.07
Boundary	DDRE-BDRC047	345,261	6,972,040	493	-61	267	301	277	286.42	9.4	2.03
Stirling	RC23STI030	345,884	6,970,686	506	-59	226	114	92	94	2.0	9.38
Boundary	RC23BDY103	345,270	6,971,965	494	-61	265	122	111	116	5.0	3.44
Boundary	DDRE-BDRC061	345,295	6,971,941	494	-61	268	311	274.5	277.55	3.1	5.56
Boundary	RCDD23BDY102	345,323	6,971,894	494	-67	273	359	135	146	11.0	1.54
Boundary	DDRE-BDRC036	345,379	6,971,949	494	-60	268	435	214	234	20.0	0.82
Boundary	RC23BDY121	345,283	6,971,977	494	-61	265	300	284	287	3.0	5.36
Boundary	RC23BDY077	345,248	6,971,437	498	-61	267	198	53	69	16.0	0.89
Boundary	RC23BDY100	345,338	6,971,991	494	-60	273	300	275	276	1.0	14.20
Boundary	DDRE-BDRC002	345,314	6,971,943	494	-61	268	353	218.4	218.7	0.3	46.90
Boundary	RC23BDY086	345,491	6,971,909	497	-55	273	240	208	219	11.0	1.27
Boundary	RCDD23BDY066	345,357	6,972,096	497	-59	269	443	313	321.6	8.6	1.57
Neptune	RCDD23NPT055	345,416	6,971,292	501	-61	230	242	174.05	186	11.9	1.10
Boundary	RC23BDY121	345,283	6,971,977	494	-61	265	300	234	244	10.0	1.23
Boundary	RCDD23BDY102	345,323	6,971,894	494	-67	273	359	326.85	333.6	6.8	1.82
Boundary	RC23BDY121	345,283	6,971,977	494	-61	265	300	130	132	2.0	6.12
Stirling	RC23STI033	345,866	6,970,728	506	-60	230	162	111	117	6.0	2.01
Boundary	RC23BDY104	345,408	6,972,003	496	-60	266	300	189	197	8.0	1.50
Boundary	RCDD23BDY102	345,323	6,971,894	494	-67	273	359	115	127	12.0	0.97
Boundary	RCDD23BDY066	345,357	6,972,096	497	-59	269	443	326	332	6.0	1.72
Boundary	RCDD23BDY102	345,323	6,971,894	494	-67	273	359	231.4	234.4	3.0	3.41
Boundary	DDRE-DRC17	345,258	6,971,890	494	-61	268	354	91	104	13.0	0.74
Boundary	RCDD23BDY102	345,323	6,971,894	494	-67	273	359	92	96	4.0	2.38
Boundary	RC23BDY104	345,408	6,972,003	496	-60	266	300	86	91	5.0	1.88
Boundary	RC23BDY117	345,226	6,971,969	494	-60	267	216	72	73	1.0	9.37
Boundary	RCDD23BDY102	345,323	6,971,894	494	-67	273	359	186.1	192	5.9	1.57
Boundary	RC23BDY119	345,254	6,971,948	494	-61	273	192	30	32	2.0	4.60
Boundary	RC23BDY088	345,363	6,971,797	495	-60	273	300	160	161	1.0	9.06
Boundary	DDRE-BDRC036	345,379	6,971,949	494	-60	268	435	368.05	382	13.9	0.64
Neptune	RC23NPT098	345,330	6,971,219	500	-61	226	186	38	46	8.0	1.09
Boundary	RC23BDY089	345,437	6,971,797	496	-60	262	288	227	228	1.0	8.45
Stirling	RC23STI030	345,884	6,970,686	506	-59	226	114	71	76	5.0	1.66
Boundary	DDRE-BDRC061	345,295	6,971,941	494	-61	268	311	237.05	239.75	2.7	2.99
Boundary	RC23BDY108	345,372	6,972,047	496	-63	266	300	0	4	4.0	2.00
Boundary	DDRE-BDRC002	345,314	6,971,943	494	-61	268	353	193.7	198	4.3	1.86
Boundary	DDRE-BDRC061	345,295	6,971,941	494	-61	268	311	211	212	1.0	7.98
Boundary	DDRE-BDRC036	345,379	6,971,949	494	-60	268	435	260	266.16	6.2	1.28
Neptune	RCDD23NPT057	345,461	6,971,313	502	-61	226	246	213	217	4.0	1.91
Boundary	RCDD23BDY102	345,323	6,971,894	494	-67	273	359	44	48	4.0	1.90
Boundary	RCDD23BDY102	345,323	6,971,894	494	-67	273	359	262	268	6.0	1.25
Neptune	RC23NPT099	345,556	6,971,125	507	-61	229	133	29	36	7.0	1.03
Boundary	DDRE-BDRC002	345,314	6,971,943	494	-61	268	353	337	344	7.0	1.00
Boundary	RC23BDY121	345,283	6,971,977	494	-61	265	300	217	218	1.0	6.93
Boundary	RCDD23BDY102	345,323	6,971,894	494	-67	273	359	72	80	8.0	0.86
Neptune	RC23NPT103	345,533	6,971,202	504	-60	226	258	108	111	3.0	2.18
Boundary	RC23BDY121	345,283	6,971,977	494	-61	265	300	162	165	3.0	2.12
Boundary	RC23BDY086	345,491	6,971,909	497	-55	273	240	199	201	2.0	3.18
Boundary	RC23BDY093	345,204	6,972,042	493	-60	263	181	29	30	1.0	6.25
Boundary	RC23BDY086	345,491	6,971,909	497	-55	273	240	59	63	4.0	1.55
Neptune	RCDD23NPT063	345,511	6,971,289	502	-61	228	278	228	229	1.0	6.05
Boundary	RCDD23BDY102	345,323	6,971,894	494	-67	273	359	154	164.3	10.3	0.58
Boundary	RC23BDY121	345,283	6,971,977	494	-61	265	300	98	104	6.0	0.99
Neptune	RCDD23NPT073	345,362	6,971,417	500	-60	227	309	243	246	3.0	1.96
Boundary	RC23BDY098	345,188	6,972,085	493	-60	261	270	132	138	6.0	0.96
Boundary	DDRE-BDRC002	345,314	6,971,943	494	-61	268	353	251	261	10.0	0.57
Boundary	RC23BDY083	345,309	6,971,899	494	-70	260	90	45	46	1.0	5.56
Boundary	RC23BDY117	345,226	6,971,969	494	-60	267	216	177	185	8.0	0.69
Boundary	DDRE-BDRC036	345,379	6,971,949	494	-60	268	435	409	419.05	10.1	0.54
Boundary	RCDD23BDY087	345,408	6,971,852	495	-61	270	351	251	252	1.0	5.37
Boundary	RC23BDY083	345,309	6,971,899	494	-70	260	90	77	81	4.0	1.34
Neptune	RC23NPT098	345,330	6,971,219	500	-61	226	186	79	80	1.0	5.33
Boundary	DDRE-BDRC061	345,295	6,971,941	494	-61	268	311	219	224	5.0	1.06
Boundary	RCDD23BDY066	345,357	6,972,096	497	-59	269	443	379	382	3.0	1.76
Boundary	RC23BDY093	345,204	6,972,042	493	-60	263	181	154	155	1.0	5.26
Boundary	RC23BDY115	345,246	6,972,067	493	-60	269	264	245	246	1.0	5.22

ASX Announcement& Release 29 April 2022	ASX Announcement& Release 29 April 2022	Media
Boundary	RC23BDY083	345,309	6,971,899	494	-70	260	90	62	70	8.0	0.64
Boundary	RCDD23BDY087	345,408	6,971,852	495	-61	270	351	318	319.15	1.2	4.27
Neptune	RC23NPT101	345,451	6,971,267	502	-60	226	252	150	154	4.0	1.22
Boundary	RC23BDY103	345,270	6,971,965	494	-61	265	122	105	106	1.0	4.88
Neptune	RC22NPT018	345,412	6,971,230	501	-60	223	160	131	136	5.0	0.96
Boundary	RC23BDY116	345,139	6,972,184	492	-61	226	121	44	49	5.0	0.94
Boundary	DDRE-BDRC002	345,314	6,971,943	494	-61	268	353	280.7	281	0.3	15.50
Boundary	RC23BDY088	345,363	6,971,797	495	-60	273	300	244	248	4.0	1.13
Neptune	RC23NPT103	345,533	6,971,202	504	-60	226	258	118	120	2.0	2.26
Boundary	RC23BDY104	345,408	6,972,003	496	-60	266	300	148	153	5.0	0.90
Boundary	DDRE-BDRC002	345,314	6,971,943	494	-61	268	353	240	246	6.0	0.74
Boundary	RCDD23BDY102	345,323	6,971,894	494	-67	273	359	168.7	174	5.3	0.83
Boundary	RC23BDY113	345,222	6,972,061	493	-60	265	288	166	168	2.0	2.18
Boundary	RC23BDY088	345,363	6,971,797	495	-60	273	300	220	222	2.0	2.15
Neptune	RC23NPT102	345,589	6,971,228	505	-61	224	204	104	110	6.0	0.71
Neptune	RCDD23NPT077	345,275	6,971,408	498	-60	227	276	157	163.2	6.2	0.67
Bungarra	RCDD23BGA015	348,546	6,968,375	502	-60	272	295	206	209	3.0	1.33
Boundary	RCDD23BDY087	345,408	6,971,852	495	-61	270	351	230	236	6.0	0.64
Boundary	RC23BDY121	345,283	6,971,977	494	-61	265	300	174	179	5.0	0.74
Stirling	RC23STI018	345,932	6,970,648	507	-60	228	85	40	43	3.0	1.23
Boundary	DDRE-BDRC036	345,379	6,971,949	494	-60	268	435	350.05	354	4.0	0.93
Boundary	DDRE-BDRC061	345,295	6,971,941	494	-61	268	311	184	185	1.0	3.67
Boundary	RC23BDY088	345,363	6,971,797	495	-60	273	300	182	189	7.0	0.52
Neptune	RCDD23NPT055	345,416	6,971,292	501	-61	230	242	192	193	1.0	3.46
Boundary	RCDD23BDY069	345,283	6,971,860	494	-61	272	280	169	171	2.0	1.70
Boundary	RCDD23BDY087	345,408	6,971,852	495	-61	270	351	297	302	5.0	0.64
Boundary	DDRE-BDRC036	345,379	6,971,949	494	-60	268	435	400.9	403	2.1	1.52
Boundary	RCDD23BDY069	345,283	6,971,860	494	-61	272	280	206	207	1.0	3.20
Boundary	RCDD23BDY102	345,323	6,971,894	494	-67	273	359	249.3	253	3.7	0.86
Boundary	RC23BDY077	345,248	6,971,437	498	-61	267	198	37	41	4.0	0.80
Boundary	RCDD23BDY102	345,323	6,971,894	494	-67	273	359	286	288	2.0	1.52
Boundary	DDRE-BDRC002	345,314	6,971,943	494	-61	268	353	316	318	2.0	1.52
Boundary	RC23BDY104	345,408	6,972,003	496	-60	266	300	134	136	2.0	1.51
Boundary	RC23BDY121	345,283	6,971,977	494	-61	265	300	277	278	1.0	2.93
Boundary	RCDD23BDY087	345,408	6,971,852	495	-61	270	351	132	133	1.0	2.92
Boundary	RCDD23BDY094	345,522	6,971,936	498	-61	265	360	296	297	1.0	2.91
Boundary	RC23BDY111	345,193	6,972,060	493	-60	264	258	37	38	1.0	2.89
Boundary	RC23BDY119	345,254	6,971,948	494	-61	273	192	127	130	3.0	0.95
Boundary	RC23BDY116	345,139	6,972,184	492	-61	226	121	57	58	1.0	2.84
Boundary	RC23BDY100	345,338	6,971,991	494	-60	273	300	144	148	4.0	0.71
Neptune	RC23NPT099	345,556	6,971,125	507	-61	229	133	69	72	3.0	0.94
Neptune	DDRE-NPRD0061	345,250	6,971,234	499	-60	220	219	174.81	176	1.2	2.35
Boundary	DDRE-BDRC061	345,295	6,971,941	494	-61	268	311	205.45	205.8	0.4	7.94
Boundary	RC23BDY100	345,338	6,971,991	494	-60	273	300	262	263	1.0	2.75
Boundary	RC23BDY119	345,254	6,971,948	494	-61	273	192	106	108	2.0	1.36
Boundary	RC23BDY100	345,338	6,971,991	494	-60	273	300	174	179	5.0	0.54
Neptune	RC23NPT103	345,533	6,971,202	504	-60	226	258	153	158	5.0	0.53
Boundary	DDRE-BDRC036	345,379	6,971,949	494	-60	268	435	428	433	5.0	0.52
Boundary	RC23BDY100	345,338	6,971,991	494	-60	273	300	242	243	1.0	2.59
Boundary	RCDD23BDY102	345,323	6,971,894	494	-67	273	359	224	225.55	1.6	1.67
Stirling	RC23STI031	345,765	6,970,782	505	-61	228	72	32	35	3.0	0.84
Stirling	RC23STI022	345,846	6,970,676	507	-61	227	97	16	18	2.0	1.24
Boundary	RCDD23BDY094	345,522	6,971,936	498	-61	265	360	272	274	2.0	1.22
Boundary	RC23BDY098	345,188	6,972,085	493	-60	261	270	157	159	2.0	1.22
Boundary	RCDD23BDY102	345,323	6,971,894	494	-67	273	359	306.05	306.5	0.5	5.39
Stirling	RC23STI027	345,630	6,970,851	505	-60	230	102	60	61	1.0	2.36
Boundary	RCDD23BDY102	345,323	6,971,894	494	-67	273	359	315.1	317	1.9	1.23
Boundary	RC23BDY097	345,158	6,972,086	492	-60	263	151	90	92	2.0	1.13
Boundary	RC23BDY108	345,372	6,972,047	496	-63	266	300	231	233	2.0	1.10
Boundary	DDRE-BDRC036	345,379	6,971,949	494	-60	268	435	391	392	1.0	2.18
Stirling	RC23STI017	345,832	6,970,765	505	-61	229	181	133	135	2.0	1.08
Neptune	RC23NPT098	345,330	6,971,219	500	-61	226	186	59	60	1.0	2.07
Bungarra	RCDD23BGA015	348,546	6,968,375	502	-60	272	295	188	189	1.0	1.98
Boundary	RCDD23BDY066	345,357	6,972,096	497	-59	269	443	442	442.5	0.5	3.92
Boundary	DDRE-BDRC017	345,247	6,972,013	493	-61	268	327	255	257.88	2.9	0.68
Boundary	RC23BDY086	345,491	6,971,909	497	-55	273	240	163	164	1.0	1.84
Neptune	RCDD22NPT027	345,233	6,971,293	499	-60	223	226	159	160	1.0	1.73
Boundary	RC23BDY100	345,338	6,971,991	494	-60	273	300	132	133	1.0	1.73
Boundary	RCDD23BDY066	345,357	6,972,096	497	-59	269	443	338.95	340	1.1	1.63
Boundary	RC23BDY104	345,408	6,972,003	496	-60	266	300	236	237	1.0	1.68
Neptune	RC23NPT099	345,556	6,971,125	507	-61	229	133	59	60	1.0	1.66
Boundary	RCDD23BDY102	345,323	6,971,894	494	-67	273	359	273	274	1.0	1.66
Boundary	RCDD23BDY102	345,323	6,971,894	494	-67	273	359	239.1	240.75	1.7	1.00
Boundary	RC22BDY018	345,312	6,972,093	495	-59	270	300	285	287	2.0	0.81
Boundary	RC23BDY119	345,254	6,971,948	494	-61	273	192	169	170	1.0	1.61
Neptune	RC23NPT103	345,533	6,971,202	504	-60	226	258	96	99	3.0	0.51
Boundary	RC23BDY097	345,158	6,972,086	492	-60	263	151	50	53	3.0	0.50
Neptune	RC22NPT008	345,442	6,971,219	502	-60	225	222	178	180	2.0	0.75
Neptune	RC23NPT098	345,330	6,971,219	500	-61	226	186	176	178	2.0	0.75

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

Section 1 Sampling Techniques and Data from Recent Drilling at Bungarra, Stirling, Hurleys, Neptune and Boundary Prospects (Bullseye)

(Criteria in this section apply to all succeeding sections).

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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 Bullseye 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 Bullseye 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 Bullseye 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.

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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.
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, spectrometres, handheld XRF instruments, etc, the parametres used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. • Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) 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 on site 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.

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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 and August 2017 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 20 December 2023 have been picked up using a hand GPS. These collars will 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 Bullseye 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 Bullseye 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.
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. • Keith King completed his most recent site visit and lab audit of both the SGS Kalgoorlie and Bureau Veritas Kalgoorlie laboratories in September 2023.

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Section 2 Reporting of Exploration Results from Bungarra, Stirling, Hurleys, Neptune and Boundary 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 Bullseye Gold Prospects are 100% held by Bullseye Mining Limited (EMR~78.05%). 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. The Neptune and Boundary prospects are associated with an approximately 45 degree plunging mineralised lode (or sheets) that have formed in association with the basalt/BIF contact, a large antiform structure and a large cross cutting structure. Gold Mineralisation is as shallow as a few metres below surface, extends to some 100m 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 metres) 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	• All reported intersections are down hole lengths. True widths are unknown and vary depending on the orientation of target structures.

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Criteria	Explanation	Commentary
	this effect (eg ‘down hole length, true width 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.	• 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 and future drilling areas, provided this information is not commercially sensitive.	• Additional drilling programs are being planned across all exploration licences.

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Appendix Three | New Significant Intercepts Okvau RC/DD Drill Programs (>2 gram metre)

Project Name	Hole Name	Easting IND60	Northing IND60	RL	Azi	Dip	End Depth	From	To	Interval	Gold g/t	Silver	Copper	Lead	Zinc
							(m)	(m)	(m)	(m)	(g/t)	(g/t)	ppm	ppm	ppm
Okvau UG	RCDD23OKV496	694,502	1,396,436	135	315	-59	770	379	398	19	5.32	0.40	582	6	34
	including							391	393	2	14.03	1.60	2,763	11	53
Okvau UG	RCDD23OKV496	694,502	1,396,436	135	315	-59	770	343	356	13	7.00	0.29	131	3	26
	including							343	345	2	33.11	1.35	433	7	20
Okvau UG	RCDD23OKV496	694,502	1,396,436	135	315	-59	770	483	490	7	6.87	0.46	355	6	24
	including							485	486	1	27.00	0.80	152	8	17
Okvau UG	RCDD23OKV503	694,591	1,396,524	141	311	-72	336	278	282	4	11.83	0.58	158	9	32
	including							278	279	1	37.50	1.40	288	12	24
Okvau UG	RCDD23OKV497	694,550	1,396,497	135	310	-68	650	250	254	4	9.82	1.95	212	36	39
	including							251	253	2	17.15	2.85	243	43	36
Okvau UG	RCDD23OKV506	694,361	1,396,581	40	309	-75	592	340	341	1	38.30	assays pendi	ng
Okvau UG	RCDD23OKV496	694,502	1,396,436	135	315	-59	770	366	373	7	5.11	0.16	147	4	30
Okvau UG	RCDD23OKV502	694,564	1,396,585	126	312	-76	339	273	275	2	17.80	assays pendi	ng
Okvau UG	RCDD23OKV495	694,393	1,396,469	135	320	-69	396	306	313	7	3.64	0.24	270	4	34
Okvau UG	DD23OKV500	694,551	1,396,564	128	314	-69	336	177	183	6	2.80	assays pendi	ng
Okvau UG	RCDD23OKV493	694,475	1,396,422	140	306	-72	558	360	363	3	4.84	0.33	324	5	42
Okvau UG	RCDD23OKV496	694,502	1,396,436	135	315	-59	770	439	454	15	1.00	0.21	66	5	36
Okvau UG	RCDD23OKV503	694,591	1,396,524	141	311	-72	336	288	293	5	2.66	0.69	178	21	37
Okvau UG	RCDD23OKV504	694,606	1,396,543	141	311	-72	500	308	318	10	1.16	0.20	35	8	26
Okvau UG	RCDD23OKV502	694,564	1,396,585	126	312	-76	339	234	238	4	2.17	assays pendi	ng
Okvau UG	RCDD23OKV502	694,564	1,396,585	126	312	-76	339	254	263	9	0.95	assays pendi	ng
Okvau UG	DD23OKV500	694,551	1,396,564	128	314	-69	336	214	215	1	8.03	assays pendi	ng
Okvau UG	DD23OKV500	694,551	1,396,564	128	314	-69	336	203	207	4	1.85	assays pendi	ng
Okvau UG	RCDD23OKV504	694,606	1,396,543	141	311	-72	500	429	436	7	1.04	3.16	1,493	52	53
Okvau UG	DD23OKV500	694,551	1,396,564	128	314	-69	336	265	271	6	0.97	0.38	694	4	35
Okvau UG	RCDD23OKV495	694,393	1,396,469	135	320	-69	396	326	327	1	5.53	0.70	35	16	27
Okvau UG	DD23OKV500	694,551	1,396,564	128	314	-69	336	126	127	1	4.58	assays pendi	ng
Okvau UG	RCDD23OKV496	694,502	1,396,436	135	315	-59	770	273	279	6	0.73	0.75	88	34	55
Okvau UG	RCDD23OKV498	694,574	1,396,611	125	313	-67	345	219	220	1	4.39	2.50	36	93	65
Okvau UG	RCDD23OKV498	694,574	1,396,611	125	313	-67	345	227	230	3	1.23	0.23	214	6	28
Okvau UG	DD23OKV500	694,551	1,396,564	128	314	-69	336	151	155	4	0.70	assays pendi	ng
Okvau UG	DD23OKV500	694,551	1,396,564	128	314	-69	336	161	163	2	1.27	assays pendi	ng
Okvau UG	RCDD23OKV493	694,475	1,396,422	140	306	-72	558	504	505	1	2.71	1.80	271	24	54
Okvau UG	RCDD23OKV496	694,502	1,396,436	135	315	-59	770	259	260	1	2.65	0.50	766	7	49
Okvau UG	RCDD23OKV498	694,574	1,396,611	125	313	-67	345	119	120	1	2.56	0.20	409	3	30
Okvau UG	RCDD23OKV501	694,539	1,396,540	130	312	-73	315	122	126	4	0.64	3.40	99	931	969
Okvau UG	RCDD23OKV502	694,564	1,396,585	126	312	-76	339	223	228	5	0.63	assays pendi	ng
Okvau UG	RCDD23OKV504	694,606	1,396,543	141	311	-72	500	281	284	3	1.05	1.00	29	55	57
Okvau UG	RCDD23OKV512	694,178	1,396,609	110	310	-55	198	193	194	1	2.21	0.10	88	3	21
Okvau UG	RCDD23OKV486	694,295	1,396,745	50	311	-83	309	15	16	1	2.13	0.05	49	5	28
Okvau UG	RCDD23OKV486	694,295	1,396,745	50	311	-83	309	124	125	1	1.61	0.05	65	4	23
Okvau UG	RCDD23OKV493	694,475	1,396,422	140	306	-72	558	266	267	1	1.84	0.10	100	18	90
Okvau UG	RCDD23OKV495	694,393	1,396,469	135	320	-69	396	337	338	1	1.50	0.70	56	14	40
Okvau UG	RCDD23OKV495	694,393	1,396,469	135	320	-69	396	366	367	1	1.72	0.30	112	5	31

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Okvau UG	RCDD23OKV496	694,502	1,396,436	135	315	-59	770	471	474	3	0.77	0.20	97	4	27
Okvau UG	RCDD23OKV496	694,502	1,396,436	135	315	-59	770	739	742	3	0.62	0.50	1,128	15	43
Okvau UG	RCDD23OKV497	694,550	1,396,497	135	310	-68	650	240	241	1	1.83	0.20	49	9	22
Okvau UG	RCDD23OKV498	694,574	1,396,611	125	313	-67	345	210	211	1	1.63	0.60	27	21	35
Okvau UG	RCDD23OKV499A	694,579	1,396,606	125	310	-80	308	278	280	2	0.89	assays pending
Okvau UG	RCDD23OKV502	694,564	1,396,585	126	312	-76	339	142	143	1	2.45	assays pending
Okvau UG	RCDD23OKV505	694,249	1,396,687	94	310	-83	584	156	157	1	1.64	assays pending
Okvau UG	RCDD23OKV506	694,361	1,396,581	40	309	-75	592	243	244	1	2.20	assays pending
Okvau UG	RCDD23OKV506	694,361	1,396,581	40	309	-75	592	316	317	1	2.43	assays pending
Okvau UG	RCDD23OKV507	694,363	1,396,580	40	309	-88	180	91	95	4	0.60	assays pending
Okvau UG	RCDD23OKV507	694,363	1,396,580	40	309	-88	180	175	176	1	1.93	0.60	308	5	44
Okvau Near Mine	RC23OKV515	694,711	1,396,940	140	315	-65	197	55	59	4	6.26	assays pending
Okvau Near Mine	RC23OKV545	695,442	1,395,300	161	270	-52	120	35	36	1	6.42	0.70	188	3	30
Okvau Near Mine	RC23OKV514	694,629	1,396,894	142	310	-55	200	0	8	8	0.52	assays pending
Okvau Near Mine	RC23OKV551	694,307	1,397,044	139	310	-60	120	11	13	2	1.68	assays pending
Okvau Near Mine	RC23OKV514	694,629	1,396,894	142	310	-55	200	32	33	1	3.13	assays pending
Okvau Near Mine	RC23OKV515	694,711	1,396,940	140	315	-65	197	169	170	1	1.91	assays pending
Okvau Near Mine	RC23OKV545	695,442	1,395,300	161	270	-52	120	98	99	1	1.78	0.20	157	3	22
Okvau Near Mine	RC23OKV533	694,196	1,397,298	133	360	-55	168	68	69	1	1.76	2.00	229	83	343
Okvau Close spaced	145_825_036	694,646	1,396,935	140	315	-60	36	15	20	5	23.50	Multielements not assayed
Okvau Close spaced	145_745_008	694,620	1,396,848	141	315	-60	36	11	18	7	8.98	Multielements not assayed
Okvau Close spaced	145_745_007	694,627	1,396,843	142	315	-60	36	16	23	7	7.76	Multielements not assayed
Okvau Close spaced	145_825_027	694,641	1,396,940	142	315	-60	29	7	16	9	3.53	Multielements not assayed
Okvau Close spaced	145_745_007	694,627	1,396,843	142	315	-60	36	27	28	1	21.24	Multielements not assayed
Okvau Close spaced	145_835_015	694,668	1,396,927	143	315	-60	36	24	26	2	10.54	Multielements not assayed
Okvau Close spaced	145_815_025	694,629	1,396,938	141	315	-60	17	7	12	5	3.90	Multielements not assayed
Okvau Close spaced	145_755_005	694,633	1,396,849	142	315	-60	36	26	29	3	4.25	Multielements not assayed
Okvau Close spaced	145_835_015	694,668	1,396,927	143	315	-60	36	34	36	2	5.97	Multielements not assayed
Okvau Close spaced	145_840_036	694,667	1,396,936	140	315	-60	36	7	8	1	11.01	Multielements not assayed
Okvau Close spaced	145_835_038	694,636	1,396,959	141	315	-60	6	3	4	1	10.85	Multielements not assayed
Okvau Close spaced	145_845_045	694,658	1,396,952	140	315	-60	36	11	17	6	1.73	Multielements not assayed
Okvau Close spaced	145_830_006	694,637	1,396,951	141	315	-60	29	9	12	3	3.39	Multielements not assayed
Okvau Close spaced	145_840_037	694,656	1,396,947	140	315	-60	36	15	19	4	2.54	Multielements not assayed
Okvau Close spaced	145_850_016A	694,674	1,396,943	140	315	-60	36	6	9	3	3.07	Multielements not assayed
Okvau Close spaced	145_840_036	694,667	1,396,936	140	315	-60	36	21	23	2	4.30	Multielements not assayed
Okvau Close spaced	145_825_026	694,634	1,396,947	141	315	-60	29	8	10	2	4.10	Multielements not assayed
Okvau Close spaced	140_850_001	694,714	1,396,902	141	315	-60	12	8	9	1	8.05	Multielements not assayed
Okvau Close spaced	145_825_025	694,697	1,396,885	145	315	-60	18	6	12	6	1.15	Multielements not assayed
Okvau Close spaced	145_830_028	694,630	1,396,958	141	315	-60	5	2	3	1	5.81	Multielements not assayed
Okvau Close spaced	145_830_028	694,630	1,396,958	141	315	-60	5	1	2	1	5.81	Multielements not assayed
Okvau Close spaced	145_825_016	694,658	1,396,924	143	315	-60	36	28	29	1	5.14	Multielements not assayed
Okvau Close spaced	145_825_016	694,658	1,396,924	143	315	-60	36	28	29	1	5.14	Multielements not assayed
Okvau Close spaced	145_845_015	694,665	1,396,945	142	315	-60	36	19	24	5	1.00	Multielements not assayed
Okvau Close spaced	145_830_012	694,658	1,396,930	142	315	-60	11	7	11	4	1.10	Multielements not assayed
Okvau Close spaced	145_850_016A	694,674	1,396,943	140	315	-60	36	20	24	4	1.05	Multielements not assayed
Okvau Close spaced	145_900_002	694,693	1,396,994	140	315	-60	36	9	10	1	4.07	Multielements not assayed
Okvau Close spaced	145_880_001	694,675	1,396,984	140	315	-60	36	27	30	3	1.32	Multielements not assayed
Okvau Close spaced	145_835_017	694,654	1,396,941	142	315	-60	36	17	21	4	0.99	Multielements not assayed

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Okvau Close spaced	145_815_015	694,647	1,396,920	143	315	-60	36	20	21	1	3.84	Multielements not assayed
Okvau Close spaced	145_815_018	694,626	1,396,941	141	315	-60	19	6	8	2	1.88	Multielements not assayed
Okvau Close spaced	145_835_016	694,661	1,396,935	142	315	-60	36	5	7	2	1.86	Multielements not assayed
Okvau Close spaced	145_835_017	694,654	1,396,941	142	315	-60	36	18	21	3	1.19	Multielements not assayed
Okvau Close spaced	145_830_035	694,664	1,396,924	140	315	-60	36	30	31	1	3.54	Multielements not assayed
Okvau Close spaced	145_820_025	694,656	1,396,919	143	315	-60	36	34	36	2	1.66	Multielements not assayed
Okvau Close spaced	145_830_035	694,664	1,396,924	140	315	-60	36	10	11	1	2.96	Multielements not assayed
Okvau Close spaced	145_895_018	694,704	1,396,977	140	315	-60	36	25	28	3	0.95	Multielements not assayed
Okvau Close spaced	145_825_020	694,629	1,396,953	141	315	-60	7	3	5	2	1.31	Multielements not assayed
Okvau Close spaced	145_830_035	694,664	1,396,924	140	315	-60	36	21	23	2	1.23	Multielements not assayed
Okvau Close spaced	145_850_017A	694,659	1,396,958	140	315	-60	36	2	3	1	2.26	Multielements not assayed
Okvau Close spaced	145_895_010	694,715	1,396,966	140	315	-60	36	34	36	2	1.12	Multielements not assayed
Okvau Close spaced	145_815_014	694,654	1,396,913	144	315	-60	36	23	24	1	2.22	Multielements not assayed
Okvau Close spaced	145_820_007	694,636	1,396,938	142	315	-60	20	14	16	2	1.10	Multielements not assayed
Okvau Close spaced	145_815_036	694,622	1,396,945	141	315	-60	10	4	6	2	1.08	Multielements not assayed
Okvau Close spaced	145_845_013	694,678	1,396,931	142	315	-60	36	29	30	1	1.98	Multielements not assayed
Okvau Close spaced	145_820_005	694,629	1,396,945	141	315	-60	20	5	6	1	1.93	Multielements not assayed
Okvau Close spaced	145_745_008	694,620	1,396,848	141	315	-60	36	20	24	4	0.47	Multielements not assayed
Okvau Close spaced	145_820_006	694,633	1,396,941	141	315	-60	20	9	10	1	1.71	Multielements not assayed
Okvau Close spaced	145_840_035	694,677	1,396,925	140	315	-60	36	27	28	1	1.23	Multielements not assayed

Appendix Four | JORC Code, 2012 Edition | ‘Table 1’ Report Section 1 Sampling Techniques and Data from New Significant Intercepts on the Okvau Drill Programs

(Criteria in this section apply to all succeeding sections).

Criteria JORC Code explanation Commentary Sampling • Nature and quality of sampling (eg cut • Standards are inserted at regular intervals in sample techniques channels, random chips, or specific batches to test laboratory performance. specialised industry standard measurement • For the recent exploration drilling, reverse circulation tools appropriate to the minerals under (RC) drilling is used to collect both a 4m composite and investigation, such as down hole gamma 1m samples in the precollar. The 4m program sondes, or handheld XRF instruments, etc). composited are taken from the excess bagged material These examples should not be taken as off the cone splitter taken every 1m. A spear sampling limiting the broad meaning of sampling. technique is then used to produce a 3-5kg composite
• Include reference to measures taken to sample. The 1m samples are split with a cone splitter or ensure sample representivity and the three staged riffle splitter at the drill rig to produce a 2- appropriate calibration of any measurement 5kg sub-sample. These 1m samples are submitted after tools or systems used. the results of the 4m composites are received to identify
- For the recent exploration drilling, reverse circulation (RC) drilling is used to collect both a 4m composite and 1m samples in the precollar. The 4m program composited 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 or three staged riffle splitter at the drill rig to produce a 2- 5kg sub-sample. These 1m samples are submitted after the results of the 4m composites are received to identify the zones of mineralisation.
Aspects of the determination of mineralisation that are Material to the Public Report.
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 80% 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.
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 3kg 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.
The Exploration drill samples preparation is carried out at a commercial off-site laboratory (ALS Phnom Penh). Gold assays are conducted at ALS Vientiane, Laos utilising a 50gram subsample of 85% passing 75µm pulped sample using Fire Assay with AAS finish on and Aqua Regia digest of the lead collection button. Multielement assay is completed at ALS, Perth, Australia on a 1g pulp subsample digested by Aqua Regia and determined by ICP-AES or ICP-MS for lowest available detection for the respective element. The "Okvau Close Spaced” Drilling was carried out by the he Okvau Mine Site laboratory using Aqua Regia digest with a AAS finish.

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Criteria	JORC Code explanation	Commentary
		• Historical drilling results in this ASX release refer to historical drilling records from OZ minerals completed in 2010. Historical RC drilling samples were through a cyclone on a 1 metre basis. The specific sub-sampling equipment utilised is not known and therefore representivity is not known. • Soil samples (approximately 1000g) are collected to avoid any surface contamination from shallow (generally +/-20-30cm deep) shovel holes to selectively sample pisolite bearing laterite soil material and are used to define areas of interest and mineralised system footprints. • Soil auger samples (approx. 500g) are collected from hand auger refusal depth in in-situ weathered bedrock (B/C horizon soil transition). The sample is sieved to collect a sample passing 2mm. Where transported material is not penetrated no sample is taken to avoid spurious anomalism in transported material and assist in confirming bedrock geology. This sampling is preferred to constrain areas of interest and/or drill targets. • Soil sample preparation is carried out at a commercial off-site laboratory (ALS Phnom Penh). Gold and multi- element assays are conducted at ALS Brisbane, Australia utilising a 50gram subsample of 85% passing 75µm pulped sample digested by Aqua Regia and analysed by ICP-MS. • Rock chip samples are collected as niche samples of rock material of specific style or character of interest. A target sample weight of 3-5kg is collected for assay. Sample preparation is carried out at a commercial off-site laboratory (ALS Phnom Penh). Gold assays are conducted at ALS Vientiane, Laos utilising a 50gram subsample of 85% passing 75µm pulped sample using Fire Assay with AAS finish on and Aqua Regia digest of the lead collection button. Multi-element assay is completed at ALS, Brisbane, Australia utilising a 4 acid digest of a 1g subsample of 85% passing 75µm pulped sample and determination by ICP-AES or ICP-MS for lowest available detection for the respective element. • Oxide matrix standards, field duplicates and pulp blanks are inserted in sample batches to test laboratory performance.
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 track mounted UDR650 rig is used to drill 5.5-inch RC precollar holes and a LF90 rig is used to drill NQ2 Diamond Core. The ”Okvau Close Spaced” drilling was completed using aA Schramm T450WS/BH mounted on tracked drill rig is used to drill 5.51-inch. • Recent drilling used a REFLEX survey tool to survey hole deviation. A typical downhole survey was taken at 12m depth and then every 30m to the end of hole. Surveying of RC holes utilises 6m of stainless drill rod to negate the magnetic interference from the rod string and hammer assembly. All readings showed that down hole 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.	• All RC 1m samples and sub-samples (pre- and post- split) are weighed at the rig, to check that there is adequate sample material for assay. Any wet or damp samples are noted and that information is recorded in the database; samples are usually dry. • The drilling results relate to historical sampling results. Drill recoveries are not known.
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.	• All RC chips and diamond core is routinely logged (qualitatively) by a geologist, to record details of regolith (oxidation), lithology, structure, mineralisation and/or veining, and alteration. In addition, the magnetic susceptibility of all samples is routinely measured. All logging and sampling data are captured

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Criteria	JORC Code explanation	Commentary
	• Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. • The total length and percentage of the relevant intersections logged.	into a database, with appropriate validation and security features. • Standard field data are similarly recorded (qualitatively) routinely by a geologist for all soil sampling sites. • Emerald cannot verify the detail and full scope of the historical logging from the available reports.
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. • All samples except for the “Okvau Close Spaced” drilling samples, were prepared for assay at the NATA accredited ALS Cambodia sample preparation facility in Phnom Penh; and that facility has been inspected, at the request of the Company, numerous times and most recently by Mr Keith King in April 2022. Samples are dried for a minimum of 12 hours at 105˚C. • This sample technique is industry standard and is deemed appropriate for the material. • The Okvau Mine site lab is not accredited. • The historical data available to Emerald is such that Emerald cannot reliably confirm that the historical RC samples were dry and free of free of significant contamination. Emerald cannot specifically confirm that the RC drilling results have not been compromised due to excessive moisture of contamination. • The historical data available is such that Emerald cannot reliably confirm the specific subsampling techniques and sample preparation used to generate samples to be sent for assay. It is not known whether a subsample was retained as a geological record. • No review of historic sampling practices has been completed nor was possible from the data available to Emerald for this announcement.
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, spectrometres, handheld XRF instruments, etc, the parametres used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. • Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.	• All samples are sent to the NATA accredited ALS Laboratory in Vientiane, Laos, for single Aqua Regia digest with a 50g charge with an ICP-MS finish. Samples are sent to the similarly accredited ALS Lab in Brisbane, Australia and ALS Lab Perth, Australia, for multi-element ICP analysis, after partial extraction by aqua regia digest then via a combination of ICP-MS and ICP-AES. This method has a lower detection limit of 1ppm gold. • Industry-standard QAQC protocols are routinely followed for all sample batches sent for assay, which includes the insertion of commercially available pulp CRMs and pulp blanks into all batches - usually 1 of each for every 20 field samples. Additional blanks used are home-made from barren quarry basalt. QAQC data are routinely checked before any associated assay results are reviewed for interpretation, and any problems are investigated before results are released to the market - no issues were raised with the results reported here. • All assay data, including internal and external QAQC data and control charts of standard, replicate and duplicate assay results, are communicated electronically. • Drill samples for the historical results followed the above assaying methodology except the sample preparation occurred in the ALS Laboratory in Vientiane, Laos. • Samples processed at the Okvau Mine Site laboratory (Okvau Close Spaced Drill samples) were analysed using Aqua Regia digest with a AAS finish.
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 and security measures in place. • The calculations of all significant intercepts (for drill holes) are routinely checked by senior management. • All field data associated with drilling and sampling, and all associated assay and analytical results, are archived in a relational database, with industry-standard verification protocols and security measures in place.

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Criteria	JORC Code explanation	Commentary
		• Historical sampling and assay verification processes are unknown. • No sample recording procedures are known for reported data from historic drilling.
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.	• Whilst, all sample locations are first surveyed with a hand-held GPS instrument (which generates relatively inaccurate RL values), not all samples were insitu. All locations are surveyed to IND60 or WGS84 as specified in Appendix Three. • Drill hole collar locations are first surveyed with a hand- held GPS instrument (which generates relatively inaccurate RL values). The locations of all holes used in Mineral Resource estimates are verified or amended by survey using a differential GPS by and external contractor with excellent accuracy in all dimensions using a local base station reference). • The newly reported collars of holes drilled have been picked up by a licenced surveyor with DGPS equipment. • Down-hole surveys are routinely undertaken at 30m intervals for all types of drilling, using a single-shot or multi-shot REFLEX survey tool (operated by the driller and checked by the supervising geologist).
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.
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. • Drilling has been done at various orientations. • Most of the drill holes intersect the mineralised zones at sufficient angle for the risk of significant sampling orientation bias to be low. • Soil sampling grids are of appropriate orientation to cover the observed mineralisation.
Sample security	• The measures taken to ensure sample security.	• The chain of custody for all drill samples from the drill rig and soil/auger samples from the field to the ALS Sample Preparation facility in Phnom Penh is managed by Renaissance personnel. Drill samples are transported from the drill site to the Okvau exploration core farm, where they are logged and all samples are batched up for shipment to Phnom Penh. • Sample submission forms are sent to the ALS Sample Prep facility in paper form (with the samples themselves) and also as an electronic copy. Delivered samples are reconciled with the batch submission form prior to the commencement of any sample preparation. • ALS is responsible for shipping sample pulps from Phnom Penh to the analytical laboratories in Vientiane, Brisbane and Perth and all samples are tracked via their Global Enterprise Management System. • All bulk residues are stored permanently at the ALS laboratory in Phnom Penh. • No information is available regarding sample security procedures for the historical drilling results reported. • All samples processed at the Okvau Mine site (Okvau Close Spaced Drill Samples), are handled by RNS employees and utilise the same stringent internal paperwork and tracking systems as the routine grade control methodology.
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

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==> picture [137 x 33] intentionally omitted <==

Release
29 April 2022
Criteria	JORC Code explanation	Commentary
		problems resolved before results are interpreted and/or reported. • Comprehensive QAQC audits have been conducted on this project by Duncan Hackman (August 2009, February 2010 & November 2011), SRK (February 2013) and Nola Hackman (January 2014), Wolfe (July 2015). • Mr Brett Gossage reviewed the data used in the Okvau Resource up to December 2016 and concluded that there are no concerns about data quality. • Keith King completed his most recent site visit and lab audit of the ALS Phnom Penh and Vientiane facilities in October 2023. • No review has been completed due to data availability for historical drilling. • Due to the critical importance to production, the Okvau Mine site lab has regular internal audits completed. Including routine checks of selected assays being sent to external laboratories for umpire checks.

Section 2 Reporting of Exploration Results from New Significant Intercepts Okvau Drill Programs

(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 Okvau and Memot licences are held (100%) in the name of Renaissance Minerals (Cambodia) Limited which is a wholly owned subsidiary of Emerald Resources NL (EMR). EMR are in a Joint Venture agreement on the Antrong North and South Licences where the Company and earn up to a 80% share. • The tenure is considered to be secure.
Exploration done by other parties	• Acknowledgment and appraisal of exploration by other parties.	• Exploration has been completed by previous explorers; Oxiana and Oz Minerals including soil sampling, geophysical data collection and drilling.
Geology	• Deposit type, geological setting and style of mineralisation.	• Gold occurrences within the licences is interpreted as either a “intrusion-related gold system” or “Porphyry” related mineralisation. Gold mineralization is hosted within quartz and/or sulphide veins and associated within or proximal distance to a Cretaceous age diorite.
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. 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 in Appendix Three.
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.	• No high grade top cuts have been applied. The reported significant intersections in Appendix Three are above 2 gram metre Au intersections and allow for up to 4m of internal dilution with a lower cut trigger values of greater than 0.5g/t Au. Cu significant intersections allow for up to 4m of internal dilution with a lower cut trigger values of greater than 2,000ppm Cu.

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Criteria	Explanation	Commentary
	• The assumptions used for any reporting of metal equivalent values should be clearly stated.
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 Three.
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 mineralisation is associated with visible amounts of pyrrhotite or arsenopyrite.
Further work	• The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling). • Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	• Further drilling programs are being planned on additional nearby targets. • Additional drilling programs are being planned across all exploration licences.

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AI assistant

EMERALD RESOURCES NL — Capital/Financing Update 2024

64849_rns_2024-01-23_a667c18b-4596-4f4c-8951-0439143c13aa.pdf

ASX Announcement & Media Release

Fast Facts

Significant Gold Exploration Results Continue at Bullseye and Okvau Gold Mine

Highlights

Board & Management

Company Highlights Team

Gold Production

Growth

ESG

Okvau Gold Mine (EMR 100%)

Ongoing underground and extensional drilling at the Okvau Gold Mine continues to deliver significant gold mineralisation:

Maiden Memot Gold Project (EMR 100%)

North Laverton Gold Project Resource Drill Program (Bullseye Mining Limited (EMR: ~78.05%))

Figure 1 | North Laverton Tenement Map with the prospect locations

Notes:

North Laverton Project Historic Significant Intersections (Bullseye Mining Limited (EMR: ~78.05%))

Boundary[(1)] :

Stirling[(1)] :

Hurleys[(1)] :

Neptune[(2)] :

Neptune[(3)] :

Bungarra[(1)] :

Figure 6 | Plan view of Bullseye prospects targeted by the current resource drill program

Exploration Activities – Cambodian Gold Projects

Figure 7 | Cambodian Gold Project | Exploration Licence Areas

Okvau Gold Mine (EMR 100%)

Antrong Joint Venture (EMR earning up to 80%)

29 April 2022 For further information please contact Emerald Resources NL

Morgan Hart Managing Director

About Emerald Resources NL

Overview

Table 2 | Okvau Ore Reserve Estimate (refer to announcement 31 August 2023)

29 April 2022

Forward Looking Statement

Competent Persons Statements

No New Information

Appendix One | New Drill Results from Recent Drilling at Bungarra, Stirling, Hurleys, Neptune and Boundary Prospects (Bullseye) (>2 gram metre)

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

Appendix Three | New Significant Intercepts Okvau RC/DD Drill Programs (>2 gram metre)

Section 2 Reporting of Exploration Results from New Significant Intercepts Okvau Drill Programs

More from EMERALD RESOURCES NL

EMERALD RESOURCES NL Capital/Financing Update 2024