EMMERSON RESOURCES LIMITED — Interim / Quarterly Report 2022

Oct 28, 2021

ASX Announcement 29 October 2021

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QUARTERLY ACTIVITIES REPORT for the Period Ending 30 September 2021

Highlights

• Emmerson announce extension of diamond drill hole MTDD010 at Mauretania which returns the first bonanza gold intercept in the sparsely drilled primary gold zone of:

• 3.95m at 57g/t gold, 0.22% bismuth, 20.6g/t silver and 0.23% copper from 207m including:

  • 1m at 102 g/t gold, 47g/t silver and 0.6% bismuth, and

  • 0.8m at 135.5 g/t gold, 40.2 g/t silver and 0.34% bismuth

• Further extensional drilling and geotechnical drill holes in the oxide zone at Mauretania return assays of:

• 25m at 2.57g/t gold and 0.24% copper from 93m (drill hole MTRC039) including:

  • 3m at 6.0 g/t gold and 3m at 5.2 g/t gold and 0.51 % copper

• 30m at 0.44% copper and 0.30g/t gold from 57m (MTRC043)

o 45m at 0.39% copper from 84m incl 3m at 1.6% copper (MTRC041)

• Tennant Creek central processing plant advances: Joint Venture partner TCMG has purchased a 700ktpa carbon-in-leach (CIL) plant that will be transported and assembled in Tennant Creek estimated for the first half of 2022

• The 10,000km[2] Ultra High-Resolution drone magnetic survey at Tennant Creek is now 70% complete, with highly successful “proof of concept” orientation flights over Mauretania

• Advanced scoping studies to include JORC resource estimates underway on Mauretania, Chariot, and Black Snake – providing early feed for the TCMG mill

• Visible copper intersected in drilling at Emmerson’s 100% owned Hermitage project (post end quarter)

• New 3D MIMDAS geophysical model for Kiola in NSW reveals exciting new copper-gold targets that are planned to be tested in late 2021/early 2022 (subject to the constraints around COVID)

• Emmerson is in a strong financial position with approximately $4.5m cash as at 30 September 2021 to support 100%-owned exploration activities in Tennant Creek and NSW

Emmerson Resources Limited ABN 53 117 086 745

t: +61 8 9381 7838 | e: corporate@emmersonresources.com.au | w: www.emmersonresources.com.au 3 Kimberley St, West Leederville 6007 WA

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TENNANT CREEK: building a pipeline of high-impact exploration and mining projects with Strategic Alliance funding to generate future low risk, royalty streams

Bonanza gold intercept from first diamond drill hole at Mauretania, Tennant Creek (ASX 5 July 2021)

Mauretania is located within the Northern Project Area (NPA) of the Tennant Creek Mineral Field (TCMF) (Figure 1), where historically drilling has been focussed on the shallow oxide mineralisation (figure 2). Diamond drill hole MTDD010 was prematurely terminated last year at 106m due to the impending wet season. This drill hole has now been completed and is one of three that have intersected the primary gold zone (figure 3), returning assays of:

• 3.95m at 57g/t gold, 0.22% bismuth, 20.6g/t silver and 0.23% copper from 207m including:

• 1m at 102 g/t gold, 47g/t silver and 0.6% bismuth, and

• 0.8m at 135.5 g/t gold, 40.2 g/t silver and 0.34% bismuth

This primary gold mineralisation occurs approximately 100m below the conceptual pit floor, but within the footwall of a massive hematite +/- magnetite ironstone. With the gold occurring in late stringers associated with hematite, on the footwall of a 7m wide zone of brecciation and intense chlorite alteration (Figure 4). The association of gold with hematite that postdate the early magnetite ironstones underpins our exploration model and has been the hallmark of other Emmerson discoveries at Goanna, Monitor and Edna Beryl.

New Mauretania assay results from drilling focused on testing for extensions to the shallow gold oxide zone outside of the conceptual open pit boundary include (ASX 27 August 2021):

• 25m at 2.57g/t gold and 0.24% copper from 93m (drill hole MTRC039) including:

• 3m at 6.0 g/t gold and 3m at 5.2 g/t gold and 0.51 % copper

• 30m at 0.44% copper and 0.30g/t gold from 57m (MTRC043)

• 45m at 0.39% copper from 84m incl 3m at 1.6% copper (MTRC041)

Three geotechnical drill holes were also completed, with one intersecting ironstone with results of:

• 3.6m at 1.14g/t gold from 43.5m (DDHGT-02)

Mauretania exploration advances (ASX 27 August 2021)

The new ultra-high resolution (UHR) drone magnetic survey identifies further extensions to the ironstones that host highgrade gold and copper. The 10,000km[2] UHR drone magnetic survey is now 70% complete, with highly successful “proof of concept” orientation survey delineating the Mauretania mineralisation. Subject to further geophysical modelling, this detailed survey may have defined additional ironstones to the northeast of the known mineralisation (Figure 5).

Mauretania is a greenfields discovery that recognised the association between high-grade gold, copper and hematite ironstones that had largely gone undetected prior to Emmerson’s entry to the Tennant Creek Mineral Field in 2008. The hallmark of the Company’s discoveries at Edna Beryl, Goanna, Monitor and now Mauretania include the exceptional grade of both copper and gold and their association with hematite dominant ironstones.

Tennant Creek central processing plant advances (ASX 27 August 2021)

Joint Venture partner TCMG has purchased a 700ktpa carbon-in-leach (CIL) plant that will be dismantled, transported and then reassembled in Tennant Creek TCMG’s purchase also includes a recently overhauled crushing and grinding circuit plus a Nelson Gravity Concentrator. This purchase will accelerate the establishment of a central milling facility in Tennant Creek – unlocking multiple stranded gold assets in the region and when in production, Emmerson’s free carried 6% gold production royalty

The time frame to production remains contingent on permitting, stakeholder engagement and establishment of infrastructure such as power and water at TCMG’s preferred, Nobles Nob gold tailings project (Figure 1).

EMMERSON RESOURCES LIMITED

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Ahead of this and as part of our Small Mines Joint Venture, TCMG are fully funding advanced mining studies at Mauretania, Chariot and Black Snake.

– Hermitage Project visible copper intersected (post end quarter) (ASX 26 October 2021)

Hermitage is one of a cluster of prospects that occurs within the northern corridor at Tennant Creek. These prospects of North Star, Jasper Hills, Katherine Star and Northern Star in mining lease (ML) 30177 and, Edna Beryl, Thrace and Macedon in ML 705 are 100% Emmerson owned tenements (Figure 6). These prospects occur along the northern gravity corridor, within denser, haematitic shales, jasper, and ironstones - the typical host to the mineralisation. Not only has this area seen little modern exploration but some of the areas have restricted access.

Hermitage has not seen any systematic, modern exploration since the 1980s, with the first phase of this program aimed at establishing the thickness, plunge and potential for extensions to the historic mineralisation. Particularly the high-grade copper and gold mineralisation in drill holes HEGD12 of 9m at 12.8g/t gold from 176m and HEGD05 of 23m at 4.84g/t gold and 3.7% copper from 197m (Figures 7).

Early indications from drill holes HERC002 and HERC003 suggest a zoned ironstone that occurs close to the surface and consists of hematite-jasper with local vugs, before grading down to hematite-quartz-jasper-magnetite, and finally magnetitehematite-chlorite. Drill hole HERC003 intercepts ironstone from 45m to 190m and shows variable amounts of visible copper, with malachite (up to 2% volume) present in the upper portions, followed by native copper (up to 5% volume) before intersecting the primary copper sulphides (chalcopyrite up to 2% volume) at depth (Photos 1, 2 and 3). Visual estimates are approximate only and accurate values will be reported once assay results are returned from the laboratory. First assay results from Hermitage are expected late in the current December quarter.

The true thickness of these various copper zones is unknown and will require further drilling to better understand the strike and plunge of the mineralisation.

NSW: hunting for large copper-gold porphyry deposits

- High impact copper gold drilling from new 3D Model at Kiola, NSW (ASX 17 September 2021)

In 2017 Emmerson and its strategic alliance partner, Kenex Limited (now Duke Exploration Limited), deployed machine learning data analytics technology across the Macquarie Arc to improve the success rate of discovery. This approach offered greater insight into the critical formational factors for porphyry gold-copper mineralisation in the Macquarie Arc and provided a ranked portfolio of potential opportunities. Consequently, Emmerson now has a strategic, early mover landholding position (figure 8). Since then, Emmerson has undertaken systematic exploration across its NSW projects utilising traditional exploration methods and new research from the University of Tasmania Arc Linkage project.

Emmerson’s Kiola project is one of the highest ranked, early-stage gold-copper projects in the portfolio and is centred on the 15km[2] Kiola Geochemical Zone (KGZ). It encompasses favourable Ordovician age rocks that display anomalously high gold and copper geochemistry plus historic workings. Recent work has confirmed that the KGZ contains many of the attributes of world class porphyry gold-copper mineralisation and is divided into a northern area centred on the Nasdaq skarn and a southern area around the South Pole, Kiola and Right-Hand Creek mine (Figure 9).

Emmerson’s multifaceted field program has included soil and rock chip geochemistry, with rock chip samples returning up to 19.6g/t gold and 2.16% copper (ASX: 12 March 2020). It has also utilised aspects of the ARC Linkage project such as “green rock alteration” and age dating to refine the subsurface 3D model and provide vectors to the core of the copper and gold mineralisation. This has provided the framework for linking the surface geology and mineralisation within the 15km[2] KGZ to a unifying model at depth.

This large geophysical survey which also incorporates the reinterpretation of an existing VTEM survey (Versatile Time Domain Electromagnetic), was a significant investment which has produced some very exciting results. In that the copper and gold prospects at the surface are now interpretated as part of a much larger, potentially mineralised system that stretches over 5km from the Nasdaq skarn in the north to the Yards prospect in the south (Figure 10).

EMMERSON RESOURCES LIMITED

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This first phase of drilling will consist of four holes for a minimum 2,500 metres and is aimed at testing a variety of targets, with a commencement date ideally later this year but subject to securing a drill rig within the constraints of the COVID requirements.

This science based, systematic exploration underpins the first phase of drilling which has been lodged as part of a submission for 50% funding of the direct drilling costs to the NSW Government, New Frontiers Cooperative Drilling grant. A decision on whether this submission was successful will be known in the next few months.

CORPORATE: funding in place to support growth and future exploration programs

As announced to ASX on 9 November 2020, Emmerson terminated the previous Exploration Earn-in and Joint Venture Agreement (EEJV) over the Southern Project Area (SPA) with TRL Tennant Creek Pty Ltd (TRLTC), a subsidiary of Territory Resources. Emmerson was notified in early July 2021 that TRLTC has been placed into voluntary administration. Effective 7 October the creditors resolved that TRLTC be wound up and liquidators be appointed. Emmerson will monitor the progress of the Liquidation process as it unfolds over the coming months.

Emmerson cash balance of $4.5m as at 30 September 2021. (Note unaudited)

The Quarterly Cashflow Report (Appendix 5B) for the period ending 30 September 2021 was released to ASX the same day as this report and provides an overview of the Company’s financial activities. Significant items in the Appendix 5B include:

• Exploration expenditure for the reporting period of $858,000 which was offset by reimbursement from Joint Venture Partners totally $250,000

• Corporate and other operating expenditure, net of other income, totalling $321,000

• Total amount paid to directors of the entity in the period (item 6.1 of the Appendix 5B) of $125,000 which includes salary, bonus, directors’ fees, consulting fees and superannuation

Key Activities Expected in December Quarter

• Completion of drilling at Emmerson’s 100% owned Hermitage and Edna Beryl projects

• Completion of the Ultra High Resolution drone magnetic survey over the Southern Project Area at Tennant Creek

• Possible commencement of drilling at Kiola – subject to securing a drilling contractor and within the constraints of the COVID protocols

• Continuation of advanced mine studies, including reporting of JORC Resource estimates at Chariot, Mauretania, and Black Snake

• Further baseline studies at Mauretania and Chariot including flora and fauna surveys

• Assay results from Hermitage and Edna Beryl and review of future mining and processing at Edna Beryl

EMMERSON RESOURCES LIMITED

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Announcements

Announcements
24 September 2021	Investor Update
23 September 2021	Appendix 4G
23 September 2021	Corporate Governance Statement
23 September 2021	Annual Report to Shareholders
17 September 2021	High Impact copper-gold drilling from new 3D model at Kiola
27 August 2021	Investor Update
27 August 2021	New drilling, drone survey results as mill locked in for TC
24 August 2021	Investor Update
20 July 2021	Change in Substantial Holding
15 July 2021	Quarterly Cashflow Report
15 July 2021	Quarterly Activities Report
6 July 2021	Investor Update
5 July 2021	Bonanza gold intercept at Mauretania, Tennant Creek

For further information, please contact:

Rob Bills

Rob Bills Media enquiries Managing Director and CEO Michael Vaughan, Fivemark Partners E: rbills@emmersonresources.com.au E: michael.vaughan@fivemark.com.au T: +61 8 9381 7838 T: +61 422 602 720

This release has been authorised by the Board of Emmerson Resources Limited.

EMMERSON RESOURCES LIMITED

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About Emmerson Resources, Tennant Creek and New South Wales

Emmerson has a commanding land position and is exploring the Tennant Creek Mineral Field (TCMF), one of Australia’s highest-grade gold and copper fields that has produced over 5.5Moz of gold and 470,000t of copper from deposits including Warrego, White Devil, Orlando, Gecko, Chariot, and Golden Forty. These high-grade deposits are highly valuable exploration targets, and to date, Emmerson’s discoveries include high-grade gold at Edna Beryl and Mauretania, plus copper-gold at Goanna and Monitor. These discoveries were found utilising new technology and concepts and are the first discoveries in the TCMF for over two decades.

A recent rush of new tenement applications by major and junior explorers in the Tennant Creek district, not only highlights the prospectivity of the region for copper and gold but also Emmerson’s strategic 1,700km[2] land holding.

In addition, Emmerson is exploring across four early-stage gold-copper projects in NSW, identified (with our strategic alliance partner Kenex/Duke Exploration) from the application of 2D and 3D predictive targeting models – aimed at increasing the probability of discovery. Duke can earn up to 10% (to pre BFS) of any project generated providing certain success milestones are met.

The highly prospective Macquarie Arc in NSW hosts >80Moz gold and >13Mt copper with these resources heavily weighted to areas of outcrop or limited cover. Emmerson’s four exploration projects contain many attributes of the known deposits within the Macquarie Arc but remain underexplored due to historical impediments, including overlying cover (farmlands and younger rocks) and a lack of effective exploration.

About Tennant Consolidated Mining Group (TCMG)

TCMG is a subsidiary of TA Private Capital Security Agent Ltd and advised by TransAsia Private Capital (TA), a Hong Kong headquartered assets management firm, best known for its private debt solutions spanning trade finance through mid-tenor supply chain financing to mid to longer tenor term and project loans. TA has a diverse portfolio of capital deployed globally including within the Australian mining sector.

TCMG’s focus is to rationalise assets in the Tennant Creek area, with the objective of undertaking detailed studies with the ultimate goal of developing a centralised processing facility commercialising known mill feed sources in and around Tennant Creek.

Regulatory Information

The Company does not suggest that economic mineralisation is contained in the untested areas, the information contained relating to historical drilling records have been compiled, reviewed, and verified as best as the Company was able. As outlined in this announcement the Company is planning further drilling programs to understand the geology, structure, and potential of the untested areas. The Company cautions investors against using this announcement solely as a basis for investment decisions without regard for this disclaimer.

Competency Statement

The information in this release is based on information compiled by Dr Ana Liza Cuison, MAIG, MSEG. Dr Cuison is a Member of the Australian Institute of Geoscientists and has sufficient experience which is relevant to the style of mineralisation and types of deposits under consideration and to the activity which she is undertaking to qualify as a Competent Person as defined in the 2004 edition and the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Dr Cuison is a full-time employee of the Company and consents to the inclusion in this report of the matters based on her information in the form and context in which it appears.

Forward-Looking Statements

This document may include forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning Emmerson Resources Limited’s planned exploration program and other statements that are not historical facts. When used in this document, the words such as "could," "plan," "expect," "intend," "may”, "potential," "should," and similar expressions are forward-looking statements. Although Emmerson believes that its expectations reflected in these forward- looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that further exploration will result in the estimation of a Mineral Resource.

EMMERSON RESOURCES LIMITED

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Figure 1: Map of the Emmerson Tennant Creek Project showing the Northern Project Area (NPA) and Southern Project Area (SPA), which is covered by the Exploration (EEJV) and Small Mines (SMJV). Yellow dots are potential small mines and/or remnant resources. Noting that Emmerson has retained 100% of the Jasper Hills and Edna Beryl projects.

Note: quoted resources from historical deposits from Ahmad, M., Wygralak, A.S. and Ferenczi, P.A. (1999). Gold deposits of the Northern Territory 2[nd] ed. Darwin: Northern Territory Geological Survey, p.60

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Figure 2: Mauretania plan view showing previously announced drill results in the upper oxide zone – the subject of advanced mining studies funded 100% by our partner, TCMG

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Figure 3 . Mauretania plan view showing drill collars from the current program on a background of the magnetic geophysics (red = magnetic high that reflects residual magnetite within the ironstone). Note the blue shaded ironstone reflects the known extent of ironstone from previous drilling. The extent of the underlying ironstone associated with the primary gold zone will be the subject of future drilling.

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Figure 4: Cross section of Mauretania and drill hole MTDD010 – noting the metal zonation of copper peripheral/lateral to the oxide gold zone, and above the emerging bonanza primary gold zone. The primary gold zone is open in all directions, with the bonanza grades likely reflective of proximity to the structurally controlled feeder conduit.

EMMERSON RESOURCES LIMITED

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Figure 5: Plan view of Mauretania showing drill results from the latest program – now the subject of advanced mining studies funded 100% by our partner, TCMG. Note yellow background is the extent of the drone magnetic anomaly with untested portion to the northwest.

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Figure 6: Map of the northern corridor with gold, copper and cobalt projects. Background colour is the residual gravity map with white representing the northern gravity (high) ridge. Noting that ML 30177 (Jasper Hills, Hermitage, North and Northern Star) plus MLC 705 (Edna Beryl) are 100% owned by Emmerson.

EMMERSON RESOURCES LIMITED

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Figure 7 : Plan view of the planned (magenta) and completed (cyan) RC drill holes at Hermitage. Noting historic drill intersections (yellow call out boxes) and wireframe (blue) of the interpreted Hermitage ironstones.

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Photo 1: Native copper in RC drill hole HERC003

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Photo 2: Reverse Circulation drill chips showing copper (malachite) in the oxide zone of drill hole HERC003.

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Photo 3: Reverse Circulation drill chips showing copper (chalcopyrite) in the deeper primary of drill hole HERC003.

EMMERSON RESOURCES LIMITED

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Figure 8: Location of Emmerson’s NSW Projects (Lachlan Resources). The background is from the regional magnetic image representing the Molong and Junee-Narromine Volcanic Belts of the Macquarie Arc.

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Figure 9: Plan view of the Kiola Geochemical Zone (KGZ) showing historic drill results at the Nasdaq skarn, and the southern South Pole, Kiola, Right Hand Creek Mine (ASX 27 August 2020). Note the background image is the Reduced to Pole Magnetics, with blue colour outlining interpreted Ordovician age intrusions.

EMMERSON RESOURCES LIMITED

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Figure 10: 3D and 2D MIMDAS Geophysical Model and inversions stretching over 5km from the mineralised Nasdaq skarn in the north to the Yards prospect located under cover in the south. Proposed Emmerson drill hole traces (KProp1 to KProp4). Noting the red zones indicate a mantle of chargeable and conductive bodies centered on the Dolly’s North magnetic, monzodiorite body (brown).

EMMERSON RESOURCES LIMITED

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Mining Tenements Held at 30 September 2021 (Northern Territory, Australia)

Tenement	Name	Interests	Tenement	Name	Interests	Tenement	Name	Interests
EL10114	McDougall	100	MCC316	The Trump	100	MLC132	Golden Forty	100
EL10124	Speedway	100	MCC317	The Trump	100	MLC133	Golden Forty	100
EL10313	Kodiak	100	MCC334	Estralita Group	100	MLC134	Golden Forty	100
EL10406	Montana	100	MCC340	The Trump	100	MLC135	Golden Forty	100
EL23285	Corridor 2	100	MCC341	The Trump	100	MLC136	Golden Forty	100
EL23286	Corridor 3	100	MCC344	Mt Samuel	100	MLC137	Golden Forty	100
EL23905	Jackie	100	MCC364	Estralita	100	MLC138	Golden Forty	100
EL26594	Bills	100	MCC365	Estralita	100	MLC139	Golden Forty	100
EL26787	RisingRidge	100	MCC366	Estralita	100	MLC140	Golden Forty	100
EL27011	SnappyGum	100	MCC524	Estralita	100	MLC141	Golden Forty	100
EL27408	Grizzly	100	MCC55	Mondeuse	100	MLC142	Golden Forty	100
EL27537	Chappell	100	MCC56	Shiraz	100	MLC143	Golden Forty	100
EL27538	Mercury	100	MCC57	Mondeuse	100	MLC144	Golden Forty	100
ELA27539	Telegraph	100	MCC66	Golden Forty	100	MLC146	Golden Forty	100
ELA27902	Lynx	100	MCC67	Golden Forty	100	MLC147	Golden Forty	100
EL28601	Malbec	100	MCC9	Eldorado	100	MLC148	Golden Forty	100
EL28602	Red Bluff	100	MCC925	Brolga	100	MLC149	Golden Forty	100
EL28603	White Devil	100	MCC926	Brolga	100	MLC15	Eldorado 4	100
EL28618	Comstock	100	ML22284	BillyBoy	100	MLC16	Eldorado 5	100
EL28760	Delta	100	ML23216	Chariot	100	MLC17
EL28761	Quartz Hill	100	MLA29527	Wiso	100	MLC176	Chariot	100
EL28775	Trinity	100	MLA29528	Wiso	100	MLC177	Chariot	100
EL28776	Whippet	100	MLA29529	Wiso	100	MLC18	West Gibbet	100
ELA30123	Mosquito Creek	100	MLA29530	Wiso	100	MLC182	Riesling	100
EL30167	Dolomite	100	MLA29532	Wiso	100	MLC183	Riesling	100
EL30505	Golden East	100	ML30096	Malbec	100	MLC184	Riesling	100
EL30584	Juno North	100	ML30177	North Star	100	MLC253	Mulga 1	100
ELA30746	Mule	100	ML30322	Verdot	100	MLC254	Mulga 1	100
ELA30747	Power of Wealth	100	ML30620	Kia Ora	100	MLC255	Mulga 1	100
EL30748	BatteryHill	100	ML30623	Pinnacles South	100	MLC256	Mulga 2	100
ELA30749	MaryAnne	100	ML30716	Comstock	100	MLC257	Mulga 2	100
ELA31355	Mt Samuel	100	ML30742	Black Cat	100	MLC258	Mulga 2	100
EL31832	Russell	100	ML30743	True Blue	100	MLC259	Mulga 2	100
EL31833	Prosperity	100	ML30870	RisingStar	100	MLC260	Mulga 2	100
EL31834	Colombard	100	ML30872	The Extension	100	MLC261	Mulga 2	100
EL31835	Bishops Creek	100	ML30893	Troy	100	MLC32	Golden Forty	100
EL31919	BillyBoy	100	ML30909	Archmedes	100	MLC342	Tinto	100
EL32030	GreyBluff East	100	ML30911	Wolseley	100	MLC343	RockyRange	100
EL32213	Golden Slipper	100	ML30912	Ivanhoe	100	MLC344	RockyRange	100
EL9403	Jess	100	ML30938	EXP195	100	MLC345	RockyRange	100
EL9958	RunningBear	100	ML30945	Metallic Hill	100	MLC346	RockyRange	100
MA23236	Udall Road	100	ML31074	RockyRange	100	MLC347	Golden Forty	100
MA30798	Little Ben	100	ML31123	Gibbet 1	100	MLC348	Brolga	100
MCC203	Galway	100	ML31651	White Devil	100	MLC349	Brolga	100
MCC211	Shamrock	100	ML32214	Mauretania	100	MLC35	Golden Forty	100
MCC212	Mt Samuel	85	MLC127	Peko East Ext 4	100	MLC350	Brolga	100
MCC239	West Peko	100	MLC129	Peko Sth-East	100	MLC351	Brolga	100
MCC240	West Peko	100	MLC130	Golden Forty	100	MLC352	Golden Forty	100
MCC308	Mt Samuel	85	MLC131	Golden Forty	100	MLC353	Golden Forty	100
MLC354	Golden Forty	100	MLC51	Eldorado Anom	100	MLC615	Lone Star	100
MLC355	Golden Forty	100	MLC518	Ellen,Eldorado	100	MLC616	Lone Star	100

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Tenement	Name	Interests	Tenement	Name	Interests	Tenement	Name	Interests
MLC36	Golden Forty	100	MLC520	Great Northern	100	MLC617	Mt Samuel	50
MLC362	Lone Star	100	MLC522	Aga Khan	100	MLC619	Ture Blue	85
MLC363	Lone Star	100	MLC523	Eldorado	100	MLC644	Enterprise	100
MLC364	Lone Star	100	MLC524	Susan	100	MLC645	Estralita	100
MLC365	Lone Star	100	MLC527	Mt Samuel	100	MLC654	TC8 Lease	100
MLC366	Lone Star	100	MLC528	Dingo,Eldorado	100	MLC66	Traminer	100
MLC367	Lone Star	100	MLC529	Cats Whiskers	100	MLC67	Traminer	100
MLC368	Lone Star	100	MLC53	Gold Forty	100	MLC683	Eldorado	100
MLC369	Lone Star	100	MLC530	Lone Star	100	MLC692	Warrego Mine	100
MLC37	Golden Forty	100	MLC535	Eldorado No. 5	100	MLC705	Apollo 1	100
MLC370	Lone Star	100	MLC54	Gold Forty	100	MLC91	Carraman/Klondyke	100
MLC371	Lone Star	100	MLC546	The Mount	100	MLC92	Carraman/Klondyke	100
MLC372	Lone Star	100	MLC55	Golden Forty	100	MLC93	Carraman/Klondyke	100
MLC373	Lone Star	100	MLC555	Tennant Creek		MLC94	Carraman/Klondyke	100
MLC374	Lone Star	100	MLC558	New Hope	100	MLC95	Carraman/Klondyke	100
MLC375	Lone Star	100	MLC56	Golden Forty	100	HLDC101	SallyNo Name	100
MLC376	Mulga 1	100	MLC576	Golden Forty	100	HLDC37	Warrego No. 1	100
MLC377	Mulga 1	100	MLC577	Golden Forty	100	HLDC39	Warrego Min	100
MLC378	Mulga 1	100	MLC581	Eldorado ABC	100	HLDC40	Warrego No. 2	100
MLC379	Mulga 1	100	MLC582	Eldorado ABC	100	HLDC41	Warrego No. 3	100
MLC38	Memsahib East	100	MLC583	Eldorado ABC	100	HLDC42	Warrego S7	100
MLC380	Mulga 1	100	MLC584	Golden Forty	100	HLDC43	Warrego S8	100
MLC381	Mulga 1	100	MLC585	Golden Forty	100	HLDC44	Warrego No. 2	100
MLC382	Mulga 1	100	MLC586	Golden Forty	100	HLDC45	Warrego No. 1	100
MLC383	Mulga 1	100	MLC591	TC8 Lease	100	HLDC46	Warrego No. 1	100
MLC384	Mulga 2	100	MLC592	TC8 Lease	100	HLDC55	Warrego No. 4	100
MLC385	Mulga 2	100	MLC593	TC8 Lease	100	HLDC56	Warrego No. 5	100
MLC386	Mulga 2	100	MLC594	TC8 Lease	100	HLDC58	Wiso Line No. 6	100
MLC387	Mulga 2	100	MLC595	TC8 Lease	100	HLDC59	Warrego No. 6	100
MLC4	Peko Extended	100	MLC596	TC8 Lease	100	HLDC94	Warrego No. 4	100
MLC406	Comet	100	MLC597	TC8 Lease	100	HLDC95	Warrego No. 3	100
MLC407	Comet	100	MLC598	Golden Forty	100	HLDC96	Wiso Basin	100
MLC408	Comet	100	MLC599	Mt Samuel	85	HLDC97	Wiso Basin	100
MLC409	Comet	100	MLC601	TC8 Lease	100	HLDC99	Wiso No.3pipe	100
MLC432	Mulga 1	100	MLC602	TC8 Lease	100
MLC48	Tinto	100	MLC603	TC8 Lease	100
MLC49	Mt Samuel	100	MLC604	TC8 Lease	100
MLC498	Eldorado	100	MLC605	TC8 Lease	100
MLC499	Eldorado	100	MLC606	Lone Star	100
MLC5	Peko Extended	100	MLC607	Lone Star	100
MLC50	Eldorado Anom	100	MLC608	Lone Star	100
MLC500	Eldorado	100	MLC609	Lone Star	100
MLC501	Eldorado	100	MLC610	Lone Star	100
MLC502	Eldorado	100	MLC611	Lone Star	100
MLC503	Eldorado	100	MLC612	Lone Star	100
MLC504	Eldorado	100	MLC613	Lone Star	100
MLC505	Eldorado	100	MLC614	Lone Star	100

EMMERSON RESOURCES LIMITED

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==> picture [86 x 47] intentionally omitted <==

Mining Tenements Held at 30 September 2021 (New South Wales, Australia)

Tenement	Name	Interest
EL8463	Wellington	90%
EL8464	Fifield	90%
EL8590	Kiola	90%
EL8652	Sebastopol	90%
EL8766	Greater Kadungle	100%
EL8999	Kadungle	82%

EMMERSON RESOURCES LIMITED

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