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EMU NL Capital/Financing Update 2023

Dec 6, 2023

64851_rns_2023-12-06_b45261e9-64fd-4163-8b15-238d7212150e.pdf

Capital/Financing Update

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ASX Announcement
7 December 2023
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EMU Records Gold Assays to 36.1 g/t - Georgetown, Queensland

HIGHLIGHTS*

  • Camp Oven Creek area historic surface rock assay results ranging from 12.9 g/t up to 224 g/t gold and 24 g/t to 135 g/t silver from rock samples in broad rhyolite breccia hosted veins in the NW[1] .

  • 15.4 g/t gold assay results recorded from EMU’s first reconnaissance rock samples in the NE Dagworth area, ~19km east from Camp Oven Creek, along Delany Fault extension[2] .

  • 15 historic rock values greater than 31.1 g/t gold (> 1 Ounce) identified from zones in the Camp Oven Creek, 130 Quartz Vein and Quartz 250 Prospects (“new historic information”)[3] .

  • Three historic rock samples in the Quartz 130 prospect returned values ranging from 51 g/t gold up to 73 g/t gold[4] .

  • Limited historic drilling at Rhyolite Breccia/Turtle Arm returned values to 2m at 15.8 g/t Au and 3m at 2.8 g/t Au.( See table 3).

  • 86 historic surface rock samples greater than 1 g/t gold with a weighted average of 17.3 g/t within Georgetown EPM 27667 - NW Camp Oven Creek/Turtle Arm quadrant[5] .

  • 2 EMU first reconnaissance rock samples returned 36.1 g/t gold and 25.6 g/t gold respectively from the Sandy Creek prospect just south of Georgetown[6] .

  • Limited historic drilling at Munitions Creek (EPM 27642) returned values to 4m at 2.73 g/t Au and 1m at 10.85 g/t Au . (see table 3).

  • EMU’s geological teams currently in field undertaking follow up sampling from these areas.

1 GSQ Open Data Portal (https://geoscience.data.qld.gov.au) Company Report CR20472 (Emu Appendix 1 – CR20472 Appendix 3). Table 4.

2 Table 1.

3 GSQ Open Data Portal (https://geoscience.data.qld.gov.au) Company Reports 20472, 23854, 71155. Also see table 4.

4 GSQ Open Data Portal (https://geoscience.data.qld.gov.au) Company Report 23854, 71155. Also see table 4.

5 GSQ Open Data Portal (https://geoscience.data.qld.gov.au) Company Reports 20472, 21962, 23854, 28639, 42618, 71155. Table 4.

6 See table 1.

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ABN 50 127 291 927 | 10 Walker Avenue, West Perth, WA, 6005 | PO Box 1112, West Perth, WA, 6872 E: [email protected] | www.emunl.com.au | ASX Code: EMU

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*Cau�onary Statement: Where explora�on results have been reported by previous explorers, they have not been reported in accordance with the JORC (2012) Code. A Competent Person has not completed sufficient work to disclose the explora�on results in accordance with the JORC (2012) Code. It is possible that following further evalua�on and/or explora�on work that the confidence in the prior explora�on results may be reduced when reported under the JORC (2012) Code.

Nothing has come to the a�en�on of Emu NL that causes it to ques�on the accuracy or reliability of any former explorers’ results, as they contain informa�on including sample loca�on, laboratory analysis results and analysis methodologies u�lised. The Company however has not independently validated former explorers’ samples and therefore the results are not to be regarded as repor�ng, adop�ng or endorsing those results.

EMU NL ( ASX: EMU ) (“ EMU ” or “ the Company ”) is pleased to release gold assay results from its maiden reconnaissance field survey conducted during July and August 2023 at the Georgetown Project in Queensland.

Commen�ng on the high gold values historically reported in the project area coupled with EMU’s latest results, EMU’s Chairman Mr Peter Thomas commented:

“It is quite remarkable that the Georgetown tenements and surrounding areas have not been comprehensively subjected to a modern and systema�c explora�on effort previously. EMU’s ini�al “first pass” reconnaissance field survey comprised the collec�on of a limited number of samples from rock outcrop, termite mounds and stream sediments in mul�ple areas targeted for gold, base metals, lithium and cri�cal minerals. In addi�on to the recently reported copper, silver and lead values, the gold assay results and historic explora�on results support EMU’s view that the project has the poten�al to deliver world-class discoveries which underpinned its decision to farm into the project” .

Further to the recent announcement[7] confirming a substan�al high-grade copper and silver system at Fiery Creek and high-grade lead and silver assays results from Snake Creek, EMU reports high grade gold values from rock chip samples collected from a number of prospec�ve areas at Georgetown.

Recently compiled historic gold and base metal drill hole and surface outcrop sampling values from the Georgetown area and from within the three tenements which comprise the project, confirm the outstanding prospec�vity of the project.

EMU is currently undertaking a new, limited and targeted follow-up explora�on programme with teams in the field over areas not previously sampled to inves�gate zones which have historically reported high-grade gold and base metal values.

7 ASX Release, “Copper Silver Lead Assay Results Pegmatite Fields Georgetown “, 5 October 2023

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Figure 1 - Iden�fied current and historic Gold Occurrences at Fiery Creek and Georgetown Tenements

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Table 1. Emu’s Significant Gold Sample Assay Results (>1 g/t Au in bold text)

Sample ID Easting **Northing ** Prospect Sample
Medium		 Lithology Au
(ppm)		 Ag
(ppm)		 As
(ppm)		 Cu
(ppm)
Pb
(ppm)
Zn
(ppm)
Tenement
ESS02085 768482 7974337 Sandy Creek ROCK BXQV 25.61 9 39 321 4080 62900 EPM27664
ESS02086 768480 7974337 Sandy Creek ROCK BXQV 36.16 16 534 509 10300 1270 EPM27664
ESS02153 770375 7979074 Ancient Briton ROCK BXQV 0.59 14 30 27 3960 404 EPM27664
ESS02154 770474 7979246 Ancient Briton ROCK BXQV 0.33 3 29 43 604 423 EPM27664
ESS02155 770465 7979321 Ancient Briton ROCK BXQV 1.25 0 23 20 338 574 EPM27664
ESS02157 771630 7980253 AncientBriton ROCK BXQV 1.08 0 31 15 14 265 EPM27664
ESS02259 773567 7966093 Dalray ROCK BXQV 0.72 2 25 172 55 19.4 EPM27664
ESS02044 774864 8008000 Fiery Creek ROCK BXQV 0.11 10 14 18940 41 29.2 EPM27667
ESS02050 774607 8007877 Fiery Creek ROCK BXQV 0.15 23 57 3827 1290 244 EPM27667
ESS02136 774689 8008022 Fiery Creek ROCK BXQ 0.12 70 215 174300 3830 240 EPM27667
ESS02119 774613 8007945 Fiery Creek ROCK BXQ 0.19 29 62 47340 2180 129 EPM27667
ESS02147 778121 8013449 Dagworth ROCK BXQV 15.44 25 196 393 4520 207 EPM27667
ESS01940 708073 7937342 Munitions Creek ROCK BXQV 1.40 0 3550 105 144 252 EPM27642
ESS02001 708074 7937341 Munitions Creek ROCK BXQV 0.10 0 2550 42 26 464 EPM27642
ESS01941 708084 7937330 Munitions Creek TERMITE TERMITE 0.13 0 229 18 71 55.4 EPM27642
ESS02030 774356 8003068 Greisen Hill STREAM STREAM 1.00 0 2 19 21 43 EPM27667
ESS02209 771032 7970124 Dalray STREAM STREAM 2.13 0 2 14 34 24 EPM27664
ESS02258 773032 7968188 Dalray STREAM STREAM 2.26 0 1 9 45 50.4 EPM27664

Historical Gold Reported:

Fiery Creek EPM 27667 (Gold + Base Metal Targets)

Based upon significant results that have emerged from the compila�on of historic data and the limited field work already completed by EMU, the significant northern por�on of the Fiery Creek tenement (EPM 27667) is emerging as a high priority for both precious and base metals. The higher priority targets include structural se�ngs for gold in the Camp Oven Creek, Quartz 130, Quartz 250 and Dagworth Prospect areas, whilst the Fiery Creek prospect within the Yataga Granodiorite demands further a�en�on due to the high-grade outcrop sample assay values for copper and silver.

Georgetown EPM 27664 (Gold Targets)

Whilst there are over 65 historic shallow surface to underground mine workings recorded in the Georgetown tenement, EMU has sourced very li�le historic surface data in digital format. At the Ancient Briton prospect EMU has iden�fied 10 recorded abandoned small mines, including the Wexford underground mine. Yet, in this same area, there are only 7 recorded surface sample data points. One mine waste (dump) sample (1374159, see table 4) in the NW quadrant of the Ancient Briton prospect returned historic results from a surface rock sample up to 31.01 g/t gold. EMU has been compiling and valida�ng historic geochemistry and drilling data to priori�se areas for further explora�on work.

EMU Ini�al Field Reconnaissance Programme:

EMU’s ini�al work iden�fied 49 prospects over the 3 Georgetown tenements that were classified and priori�sed from historic datasets for immediate explora�on work. The maiden field trip targeted specific areas for reconnaissance from which 421 rock, termite mound and stream sediment samples were collected.

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Soil Termite Mound Sampling

Sampling of termite mounds is an extremely effec�ve explora�on method to rapidly assess areas prospec�ve for gold and base metal mineralisa�on. Termites collect organic and inorganic material for nest construc�on from burrowed corridors within the soil, bringing material upwards from deepseated environments. Previous studies[8] suggest termites transport materials from depth of over 8.5m and up to 70m. The height of termitaria is directly propor�onal to the depth of burrowed materials from sub surface environment. As the termites collect material from underling rocks and mineralisa�on, anomalies defined by sampling of termitaria represent in situ mineralisa�on.

As previously reported by EMU[9] , outcrop sampling at the Fiery Creek Prospect returned values of up to 18% copper and 200g/t silver from a broad zone of quartz-breccia zones. Three traverses of termite mound sampling were completed on a nominal 200m by 50m grid across the prospect. Results demonstrated copper (to 785ppm Cu) and silver (to 1.2ppm Ag) (see table 5 below) anomalism immediately proximal to the mineralised quartz-breccia zones, demonstra�ng the effec�veness of the technique.

EMU is currently extending the termite mound sample grid up to 6,000m to the south of the Fiery Creek Prospect across areas of colluvium and soil cover to define the extent of the defined mineralisa�on at Fiery Creek.

Georgetown Project Gold Targets

Fiery Creek – EPM 27667

The main focus for gold mineralisa�on within EPM 27667 is the western por�on of the tenement, par�cularly the historic Camp Oven Creek, Turtle Creek, Turtle Arm, Rhyolite Breccia, 130 Quartz vein and 250 Quartz Hill prospects. All prospects have significant gold values from historic surface rock and trench sample analysis; including 15 historic values listed in table 4, assaying greater than 31.1 g/t gold (>1 ounce) from zones in the Camp Oven Creek, 130 Quartz Vein and 250 Quartz Hill prospects. As well as one surface rock sample (Q20759) assaying up to 224 g/t gold from the Camp Oven Creek area[10] . Significant gold values extend for over 4,000m along the con�guous Rhyolite Breccia and Turtle Arm prospects with only minor por�ons tested by RC drilling, returning values to 2m at 15.8g/t Au and 3m at 2.8ppm Au. (See figure 5 and table 3)

EMU’s reconnaissance field survey in July-August did not visit this area, however work will be undertaken across these prospects during the current explora�on program.

Of interest is a stream sediment result collected near the Greisen Hill area in the southeast of the tenement in the southern por�on of the Yataga Granodiorite. The sample returned a value of 1 g/t Au in an area of minimal historic workings and previously unknown gold occurrences. This area will also be followed up during the current explora�on program.

8 Coventry, Holt and Sinclair, 1988, Nutrient cycling by mound building termites in low fertility soils of semi-arid tropical Australia, Australian Journal of Soil Research 26(2) 375 - 390

9 ASX Release, “Copper Silver Lead Assay Results Pegmatite Fields Georgetown “, 5 October 2023

10 GSQ Open Data Portal (https://geoscience.data.qld.gov.au) Company Reports 20472, 23854, 71155. See also table 4 below.

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Georgetown – EPM 27664

Historic sampling in the Georgetown area within EPM 27664 returned a large number of elevated gold values associated with numerous historic workings. Some of the areas, such as Wexford, have subsequently been mined by open cut methods. Historic drilling undertaken to test the various historic mines proximal to Georgetown have been to rela�vely shallow depths. Data is not available for all completed drilling.

A targeted inspec�on of the Georgetown workings was undertaken, although limited in scope due to

Sandy Creek prospect has returned excellent gold results with grades up to 36.1g/t from surface samples of oxidised and brecciated quartz veins with scorodite altera�on. (See Figure 2 and table 1).

Five samples from the Ancient Briton area, both dump material and outcropping veining/breccia, returned gold values between 0.33g/t Au to 1.25g/t Au, see table 1. The two float samples from the Sandy Creek area located south of Georgetown, returned values of 25.6g/t Au and 36.1g/t Au from zones proximal to shallow historic workings. Further work will be completed in these areas during the current explora�on program.

Two stream sediment samples were collected in the Dalray prospect area, from separate catchments, located in the southeastern por�on of the Georgetown tenement. Both returned gold values of 2.33g/t Au and 2.17g/t Au respec�vely. There are no known workings in the vicinity of the sample loca�ons. The high stream sediment sample gold results highlight the need for further field sampling work within the two iden�fied catchments. This will be completed by teams currently in the field to further inves�gate the poten�al significance of the ini�al reconnaissance results.

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Figure 2 - Breccia vein sample from Sandy Creek area returning 36.1ppm Au and elevated pathfinders Cu, Pb, Zn, As, and Cd (see ESS02086 loca�on coordinates 768480E/ 7974337N plo�ed on Figure 1)

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Perpendicular Creek – EPM 27642

At the Perpendicular Creek tenement, the Muni�ons Creek and Snake Creek Prospects were visited. Two samples collected from quartz breccia outcrops at Muni�ons Creek returned gold values to 1.40g/t Au (see table 1).

The prospect comprises a number of sub-parallel quartz-breccia zones, the most eastern of which was tested by an historic, shallow, 11 hole RC drilling program during 2005. The drilling returned gold intersec�ons of up to 4m at 2.73g/t Au, to a maximum depth of 39 metres below surface, see table 3 below. Further drilling is warranted to determine the depth and strike extent of the gold mineralisa�on.

EMU will undertake further geochemistry sampling across the Muni�ons Creek zone of veining/breccia�on and test for extensions under colluvial cover to the north and south to define further drill targets.

EMU will also undertake first pass gold and mul�-element geochemistry sampling over an ini�al widespaced grid across the Snake Creek prospect to define the controls to mineraliza�on, orienta�on and extent of both precious and base metal mineralisa�on.

Future Work:

EMU is currently undertaking field work prior to the onset of the wet season. The work is targe�ng extensions of mineralisa�on to the Fiery Creek copper–silver discovery, extensions to the lead-silver mineralisa�on at Snake Creek, and gold at Muni�ons Creek, Georgetown and Turtle Arm areas.

The limited prospec�ng undertaken during the ini�al field survey confirmed the large scale (850km[2] ) Georgetown Project is highly prospec�ve for precious and base metals. The reconnaissance work also highlighted the lack of previous explora�on outside of the few known prospects, with the current work confirming the explora�on poten�al of areas such as the Fiery Creek Copper-Silver prospect. The implementa�on of termite mound sampling will allow the rapid appraisal of some previously unexplored areas within the Georgetown tenements. EMU will con�nue to review and follow up historic explora�on results to upgrade prospec�vity and target new areas for explora�on within the project.

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Figure 3 - Map showing outline of tracks and sample loca�ons from EMU’s maiden field reconnaissance survey (July-August 2023)

About The Georgetown Project:

  • EMU has the right to earn up to an 80% interest in 3 exploration permits for minerals (EPM’s), covering 850km[2] in the Georgetown mining district, Queensland, under a Heads of Agreement and Joint Venture Agreement with Rugby Resources Ltd (TSXV:RUG).

  • The district has a substantial mineral endowment with more than 1,000 mines, prospects and identified mineral occurrences.[11]

  • Significant historical gold production from the district.

  • Dozens of known highly significant mineral occurrences within the tenements are under explored and unexploited, there having been little systematic modern exploration.

  • Lithium potential has been highlighted by the Queensland Department of Natural Resources and Mines.[12]

  • Identified by Geoscience Australia[13] as a prospective host region for critical minerals and specific minerals required for electric vehicles and electrification infrastructure.

11 Queensland Department of Natural Resources GeoResGlobe Interactive Website “https://georesglobe.information.qld.gov.au/”

12 “Emerging strategic minerals in Queensland”, July 2017, Queensland Department of Natural Resources and Mines.

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  • The EPM’s are highly prospective for scale precious, battery and base metals occurrences including gold, lithium, silver, lead, zinc, copper, tin, tantalum, niobium, uranium, fluorine and molybdenite.

  • Numerous silver-lead targets identified at Snake Creek and at the Munitions Creek prospects with historic zinc targets.

  • Untested intrusive copper-silver target (Yataga Granodiorite) at Fiery Creek defined by large circular magnetic anomaly with associated copper occurrences.

AUTHORISED FOR RELEASE BY THE BOARD

For further informa�on, please contact:

Doug Grewar Chief Execu�ve Officer Emu NL [email protected]

Investors can sign into our interac�ve investor hub and join in on the conversa�on with Emu NL. h�ps://investorhub.emunl.com.au/auth/signup

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Table 2. Historic Drill Hole Data

Prospect Company **Hole_ID ** **Hole Type ** Depth Dip **Azimuth(mag) ** **MGA_East ** **MGA_North ** **MGA_RL ** **Start_Date ** End_Date Source_File Old Tenement
Munitions Creek Diatreme Resources LRC-01 REVC 67 -60 317.6 708441 7937591 246 30/11/2005 30/11/2005 CR42451 EPM11849
Munitions Creek Diatreme Resources LRC-02 REVC 61 -60 317.6 708350 7937544 250 1/12/2005 1/12/2005 CR42451 EPM11849
Munitions Creek Diatreme Resources LRC-03 REVC 109 -60 317.6 708370 7937521 247 2/12/2005 2/12/2005 CR42451 EPM11849
Munitions Creek Diatreme Resources LRC-04 REVC 61 -60 317.6 708309 7937519 252 2/12/2005 2/12/2005 CR42451 EPM11849
Munitions Creek Diatreme Resources LRC-05 REVC 61 -60 317.6 708265 7937492 253 3/12/2005 3/12/2005 CR42451 EPM11849
Munitions Creek Diatreme Resources LRC-06 REVC 91 -60 317.6 708275 7937476 253 3/12/2005 3/12/2005 CR42451 EPM11849
Munitions Creek Diatreme Resources LRC-07 REVC 61 -60 317.6 708228 7937467 252 4/12/2005 4/12/2005 CR42451 EPM11849
Munitions Creek Diatreme Resources LRC-08 REVC 61 -60 317.6 708170 7937427 249 4/12/2005 4/12/2005 CR42451 EPM11849
Munitions Creek Diatreme Resources LRC-09 REVC 97 -60 317.6 708182 7937409 248 4/12/2005 4/12/2005 CR42451 EPM11849
Munitions Creek Diatreme Resources LRC-10 REVC 55 -60 317.6 708118 7937415 252 5/12/2005 5/12/2005 CR42451 EPM11849
Munitions Creek Diatreme Resources LRC-11 REVC 55 -60 191.6 708076 7937343 260 5/12/2005 5/12/2005 CR42451 EPM11849
Rhyolite Georgetown Mining GML030 REVC 48 -60 100 761084.4 8007438.88 301 26/09/2005 26/09/2005 CR40029,CR71155 EPM8452
Rhyolite Georgetown Mining GML031 REVC 48 -60 106 761089.4 8007464.88 301 26/09/2005 26/09/2005 CR40029,CR71155 EPM8452
Rhyolite Georgetown Mining GML032 REVC 50 -60 103 761098.4 8007486.88 301 27/09/2005 27/09/2005 CR40029,CR71155 EPM8452
Rhyolite Georgetown Mining GML033 REVC 48 -60 120 761109.4 8007507.88 301 27/09/2005 27/09/2005 CR40029,CR71155 EPM8452
Rhyolite Georgetown Mining GML034 REVC 48 -60 114 761120.4 8007526.88 301 27/09/2005 27/09/2005 CR40029,CR71155 EPM8452
Rhyolite Georgetown Mining GML035 REVC 48 -60 118 761129.4 8007543.88 301 27/09/2005 27/09/2005 CR40029,CR71155 EPM8452
Rhyolite Georgetown Mining GML036 REVC 48 -60 117 761137.4 8007562.88 301 27/09/2005 27/09/2005 CR40029,CR71155 EPM8452
Rhyolite Georgetown Mining GML037 REVC 48 -60 111 761144.4 8007582.88 301 27/09/2005 27/09/2005 CR40029,CR71155 EPM8452
Rhyolite Georgetown Mining GML038 REVC 42 -60 126 761152.4 8007601.88 301 27/09/2005 27/09/2005 CR40029,CR71155 EPM8452
Rhyolite Georgetown Mining GML039 REVC 40 -60 104 761177.4 8007634.88 301 27/09/2005 27/09/2005 CR40029,CR71155 EPM8452
Turtle Creek Keela Wee TK3 REVC 22 -60 341 762192.9 8008951.09 301 31/05/1990 31/05/1990 CR23854 EPM7264
Turtle Creek Keela Wee TK4 REVC 22 -60 161 762186 8008979.09 301 31/05/1990 31/05/1990 CR23854 EPM7264
Turtle Creek Keela Wee TK5 REVC 56 -90 381 762184 8008982.11 301 31/05/1990 31/05/1990 CR23854 EPM7264

All historic data sourced from the GSQ Open Data Portal (h�ps://geoscience.data.qld.gov.au) as per company report column above.

Table 3. Historic Drill Hole Significant Gold Result Intersec�ons (>1m, >0.5g/t Au)

Hole_ID Prospect From(m) Interval(m) Au(ppm) Old Tenement Source_File
GML030 Rhyolite 1 1 0.51 EPM8452 CR40029,CR71155
GML031 Rhyolite 3 1 0.66 EPM8452 CR40029,CR71155
GML032 Rhyolite 16 1 0.68 EPM8452 CR40029,CR71155
GML033 Rhyolite 4 3 2.8 EPM8452 CR40029,CR71155
GML033 Rhyolite 15 1 0.7 EPM8452 CR40029,CR71155
GML035 Rhyolite 19 1 0.59 EPM8452 CR40029,CR71155
GML036 Rhyolite 4 1 0.72 EPM8452 CR40029,CR71155
GML036 Rhyolite 30 5 1.15 EPM8452 CR40029,CR71155
GML037 Rhyolite 6 3 4.11 EPM8452 CR40029,CR71155
GML038 Rhyolite 8 3 1.58 EPM8452 CR40029,CR71155
GML039 Rhyolite NSR EPM8452 CR40029,CR71155
TK3 Turtle Creek NSR EPM7264 CR23854
TK4 Turtle Creek 8 2 15.8 EPM7264 CR23854
TK5 Turtle Creek NSR EPM7264 CR23854
LRC-01 Munitions Creek NSR EPM11849 CR42451
LRC-02 Munitions Creek NSR EPM11849 CR42451
LRC-03 Munitions Creek 31 4 1.04 EPM11849 CR42451
LRC-04 Munitions Creek NSR EPM11849 CR42451
LRC-05 Munitions Creek 25 4 1.78 EPM11849 CR42451
LRC-06 Munitions Creek 0 1 10.85 EPM11849 CR42451
LRC-07 Munitions Creek 25 2 0.75 EPM11849 CR42451
LRC-08 Munitions Creek 37 4 1.2 EPM11849 CR42451
LRC-09 Munitions Creek NSR EPM11849 CR42451
LRC-10 Munitions Creek NSR EPM11849 CR42451
LRC-11 Munitions Creek 13 4 2.73 EPM11849 CR42451
LRC-11 Munitions Creek 35 2 1.47 EPM11849 CR42451

All historic data sourced from the GSQ Open Data Portal (h�ps://geoscience.data.qld.gov.au) as per company report column above.

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Table 4. Historic Significant Surface Sample Gold Assay Results (>1 g/t Au up to 224 g/t Au)

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All historic data sourced from the GSQ Open Data Portal (h�ps://geoscience.data.qld.gov.au) as per company report column above

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Figure 4 - Muni�ons Creek Drill Hole Loca�ons

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Figure 5 – Historic Rhyolite Breccia Prospect Drill Hole loca�ons. (See Table 2 & 3)

Table 5. Soil Termite Mound Assay Results

Sample
ID		 **Easting ** Northing Prospect Tenement Sample
Medium		 Lithology Au
(ppm)		 Ag
(ppm)		 As
(ppm)		 Cu
(ppm)		 Pb
(ppm)		 Zn
(ppm)
ESS02123 774895 8007927 FieryCreek EPM27667 TERMITE SOIL 0.79 5.5 785.7 21.5 76.5

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COMPETENT PERSON’S STATEMENT

Emu NL

ABN 50 127 291 927

ASX Codes: EMU and EMUCA

10 Walker Ave West Perth, WA 6005

T +61 8 9226 4266 E [email protected]

PO Box 1112 West Perth, WA 6872

Fully paid shares (listed)

1,667,521,279 (including 18.6m the subject of the ATM which EMU can buy back for nil considera�on)

Contributing Shares (listed)

40,485,069 paid to $0.03, $0.03 to pay, no call before 31 December 2023

Contributing Shares (Unlisted)

35,000,000 paid to $0.0001, $0.04 to pay, no call before 31 December 2025

Options (unlisted)

172,453,621 options to acquire fully paid shares, exercisable at $0.01 each, on or before 7 October 2024

Performance Rights (Unlisted)

48,571,429 performance rights in relation to acquisition of Gnows Nest project

Directors:

Peter Thomas

Non-Executive Chairman

Terry Streeter

Non-Executive Director

Gavin Rutherford

Non-Executive Director

Tim Staermose

The informa�on in this report that relates to explora�on results is based on, and fairly represents informa�on and suppor�ng documenta�on prepared by Kur�s Dunstone, a Competent Person who is a Member of the Australian Ins�tute of Geoscien�sts. Mr Dunstone is an employee of EMU NL and has sufficient experience in the ac�vity which he is undertaking to qualify as a Competent Person as defined in the 2012 edi�on of the “ Australasian Code for Repor�ng of Explora�on Results, Mineral Resources and Ore Reserves” . Mr Dunstone consents to the inclusion herein of the ma�ers based upon his informa�on in the form and context in which it appears.

FORWARD LOOKING STATEMENTS

As a result of a variety of risks, uncertain�es and other factors, actual events and results may differ materially from any forward looking and other statements herein not purpor�ng to be of historical fact. Any statements concerning mining reserves, resources and explora�on results are forward looking in that they involve es�mates based on assump�ons. Forward looking statements are based on management’s beliefs, opinions and es�mates as of the respec�ve dates they are made. The Company does not assume any obliga�on to update forward looking statements even where beliefs, opinions and es�mates change or should do so given changed circumstances and developments.

NEW INFORMATION OR DATA

EMU confirms that it is not aware of any new informa�on or data that materially affects the informa�on included in the original market announcements and, in the case of es�mates of Mineral Resources, which all material assump�ons and technical parameters underpinning the es�mates in the relevant market announcement con�nue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not materially changed from the original market announcement.

Non-Executive Director

Investor enquiries:

Doug Grewar CEO

Page | 14

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APPENDIX 1:

JORC Code 2012 Edition Table 1

Section 1 - Sampling Techniques and Data

Criteria
JORC Code explanation		 Commentary
Sampling
techniques
Nature and quality of sampling (eg cut
channels, random chips, or specific
specialised
industry
standard
measurement tools appropriate to the
minerals under investigation, such as down
hole gamma sondes, or handheld XRF
instruments, etc). These examples should
not be taken as limiting the broad meaning
of sampling.
Include reference to measures taken to
ensure sample representivity and the
appropriate
calibration
of
any
measurement tools or systems used.
Aspects
of
the
determination
of
mineralisation that are Material to the
Public Report.
In cases where ‘industry standard’ work
has been done this would be relatively
simple (eg ‘reverse circulation drilling was
used to obtain 1 m samples from which 3
kg was pulverised to produce a 30 g charge
for fire assay’). In other cases, more
explanation may be required, such as
where there is coarse gold that has
inherent sampling problems. Unusual
commodities or mineralisation types (eg
submarine
nodules)
may
warrant
disclosure of detailed information.		 Emu NL Sampling Techniques:
 The soil and rock chip geochemistry
referenced in this work was carried out by
Emu NL within the confines of the
Georgetown Project over the period July-
August 2023.
 All sample positions were located in the
field with a handheld Garmin GPS.
 Surface sampling was carried out by
Company personnel following protocols
and QAQC procedures as per current
industry practice. See further details
below.
 Rock chip samples: 1-2kg of rock chips
collected over discrete points or other
method as described in the sample data
sheet.
 All surface samples were prepared and
assayed by LabWest, located in Malaga,
Perth.
 Rock samples prepared by method PREP-
02 (Dry, crush, split, pulverise core/rock
sample < 3kg) in which a split of 250g was
pulverised
and
analysed
for
multi-
elements by microwave mixed acid digest
MMA-04 (62 element with ICP-MS/OES
fnish) and Fire Assay for gold.
 Historic reverse circulation drilling was
used to obtain 1 m samples from which 3
kg was pulverised to produce a 30 g charge
for fire assay.
Historical Sampling Techniques:
 Historical rock chip sampling protocols
followed industry standards. In most cases
1-2kg of rock samples collected in
individually
labelled
sample
bags
dispatched
to
regional
centres
of
Townsville
or
Brisbane
for
sample
preparation and gold (fire assay) and
multi-element ICP analysis.
Drilling
techniques
Drill type (eg core, reverse circulation,
open-hole hammer, rotary air blast, auger,
Bangka, sonic, etc) and details (eg core
diameter, triple or standard tube, depth of
diamond tails, face-sampling bit or other
type, whether core is oriented and if so, by		 Emu NL Drilling:
 No drilling has been conducted by Emu NL
in the tenements nor reported in this
announcement.
Historical Drilling:
 Historic drillingbyDiatreme Resources at

Page | 15

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Criteria
JORC Code explanation		 Commentary
what method, etc). Turtle Arm and Munitions Creek was by RC
with cross-over sub. Keela Wee and
Georgetown Mining also conducted RC
drilling in the Turtle Arm and Rhyolite
areas respectively. Sample collection and
dispatch was by established industry
standards.
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.		 Historical Drilling:

Drilling recoveries are not known for
historical drilling.
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.		 Emu NL Logging Procedure:
 Geological logging of soil and rock chip
samples was completed on a visual basis
with parameters which include:
-
Colour
-
Grain size
-
Lithology type
-
Weathering
-
Mineralogy.
Historical Logging Procedures:

Historical logging of drill holes at
Munitions Creek, Turtle Creek and
Rhyolite followed established industry
practices.
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
thegrain size of the material being		 Emu NL Technique:
 OREAS brand QA/QC certified reference
samples, blanks and field duplicates were
routinely inserted at a rate of 1 in 20 with
every batch submitted for assay.
 The sample size is appropriate for the
mineralization style, application and
analytical techniques used.
 Unknown for historic RC drilling.
Historical Techniques:

Sample preparation techniques utilized
by Diatreme Resources, Georgetown
Mining
and
Keela
Wee
followed
established industry practices.

Page | 16

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Criteria
JORC Code explanation		 Commentary
sampled.
Quality
of
assay data
and
laboratory
tests
The nature, quality and appropriateness of
the assaying and laboratory procedures
used and whether the technique is
considered partial or total.
For geophysical tools, spectrometers,
handheld XRF instruments, etc, the
parameters used in determining the
analysis including instrument make and
model, reading times, calibrations factors
applied and their derivation, etc.
Nature of quality control procedures
adopted (eg standards, blanks, duplicates,
external laboratory checks) and whether
acceptable levels of accuracy (ie lack of
bias) and precision have been established.		 Emu NL Assay Data:
 EMU
surface
samples:
MMA-04
microwave mixed acid digest multi-
element techniques are industry norms
for rock chip and termite samples. FA 50
utilised for Au assays
 The assay techniques employed, the
detection limits offered and the QA/QC
procedures in place are considered fully
appropriate
for
the
rock
sampling
reported.
Historical Assay Data:
 RC drill samples from Munitions Creek
were analysed for Au by 50g charge Fire
Assay and for Ag, Al, As, B, Ba, Be, Bi, Ca,
Ga, Cd, Co, Cr, Cu, Fe, K, La, Mg, Mo, Mn,
Ni, P, Pb, S, Sb, Sc, Sr, Ti, Tl, U, V, W, Zn by
ME-ICP41s ALS Laboratory, Brisbane.
 Historic RC drill samples from Rhyolite
Breccia were analysed for Au by 50g
charge Fire Assay and Ag, As, Cu, Mo, Pb,
Sb, Zn by AAS21R at SGS, Townsville.
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.		 Emu NL Verification:
 Assays are as reported from the laboratory
and stored in the company database,
managed by an independent database
consultant.
 Field data was collected on site either on a
company Toughbook (laptop computer) or
on field sample books and later uploaded
to the database.
 No adjustment has been made to the ppm
assay data as reported by the laboratory.
 Ounces per tonne converted using
31.1034768 grams.
 PPM converted to percent by dividing
result by 10,000.
 Copies of original assay certificates were
utilised to validate historic RC drill assay
data.
Historical Results Verification:

No independent verification of historical
drilling has been carried out. The data
utilised is as supplied by company
documentation and pdf documents.
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		 Emu NL Location Data:
 Soil and rock sample positions were
located using a handheld GPS system with
an accuracyof +/- 5m and stored in the

Page | 17

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Criteria
JORC Code explanation		 Commentary
estimation.
Specification of the grid system used.
Quality and adequacy of topographic
control.		 company database. All coordinates are
referenced to MGA Zone 54, Datum
GDA94.
Historical Data:
 Historic RC holes at Rhyolite Breccia and
Turtle Creek were located by surveyed grid
and converted to UTM WGS84 Zone 54
datum. Historic RC holes at Munitions
Creek were located by handheld GPS in
UTM MGA94 Zone 54 datum.
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.		 Emu NL Sample Spacing:

EMU rock samples and termite mound
samples were collected from surface
locations.

No Mineral Resource Estimate has been
calculated.
Historical Sampling:

Rock chip samples are scattered across
the EPM 27664, 27667 & 27642
tenements and reflect mineralisation,
alteration and accessibility. The results
are suitable for reporting exploration
results and pending further evaluation
can be grouped into field targets.
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.		  No sampling bias is known.
Sample
security
The measures taken to ensure sample
security.		 Emu NL Sample Security:
 Each sample was placed into a pre-
numbered calico bag (soils and rocks), and
securely tied off and placed into a larger
“polyweave” bag for dispatch to Emu’s
warehouse
in
WA.
Samples
were
transported to the laboratory by Northline
and Capital Transport.
Historical Sample Security:

No information is available on historical
methods employed to maintain sample
security. It is assumed that industry
standards were utilised in all cases.
Audits
or
reviews
The results of any audits or reviews of
sampling techniques and data.		 Emu NL Audits:
 Continuous
improvement,
internal

Page | 18

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Criteria
JORC Code explanation		 Commentary
reviews of sampling techniques and
procedures are ongoing. No external
audits have been performed on the
methodology to date.
Historical Audits:

No formal audits and/or reviews of the
historical work has been uncovered
duringhistorical reviews to date.

JORC Code 2012 Edition Table 1 Section 2 - Reporting of Exploration Reports

Criteria Criteria JORC Code explanation JORC Code explanation Commentary
Mineral Type, reference name/number, location
 The tenure hosting the Georgetown
tenement and
and ownership including		 agreements or
Project in this news release is owned
land tenure
material issues with		 third parties such as
100% by Rugby Resources Ltd. EMU NL
status joint ventures, partnerships, overriding
has the right to earn up to 80% interest
royalties, native title interests, historical
in three EPM’s under a Heads of
sites, wilderness or national park and
Agreement
and
JVA
with
Rugby
environmental settings. Resources Ltd.
The security of the tenure held at the time
 The three EPM’s are:
of reporting along with any known
 EPM 27642
impediments to obtaining a licence to
 EPM 27664
operate in the area.  EPM 27667
 All works undertaken and reported in this
ASX announcement were completed
within these tenements.
 The project tenements are all in good
standing.
Exploration Acknowledgment and appraisal of

Historical prospecting, sampling
done by other
exploration by other		 parties. and drilling activities have been
parties undertaken
in
different
areas
within
the
project
tenements
intermittently by multiple third
parties over a period of at least 50
years. Historic Exploration Results
referred to in this announcement
have been reported from;
o Diatreme
Resources
Limited;
o Battle
Mountain
Australia Inc.;
o CRA Exploration Pty
Ltd;
o Keela-Wee Exploration
Limited;
o O’Rourke Geological
Contractors PtyLtd;

Page | 19

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Criteria JORC Code explanation Commentary Commentary
o Georgetown Mining
Limited, and
o Mega Georgetown Pty
Ltd
Historic RC drilling at Rhyolite
Breccia was
undertaken		 by
Georgetown Mining Pty Ltd. Turtle
Creek was historically RC drilled by
Keela Wee. Historic RC drilling at
Munitions Creek was undertaken
by Diatreme Resources Ltd.
Geology Deposit type, geological setting and style
 Intrusive related epithermal vein system
of mineralisation. mineralisation.
Drill hole A summary of all information material to
 See		 Summary Tables No 2, 3 & 4 included
Information the understanding of the exploration
with the current announcement.
results including a tabulation of the
following information for all Material drill
holes:
o easting and northing of the drill hole
collar
o elevation or RL (Reduced Level –
elevation above sea level in metres) of
the drill hole collar
o dip and azimuth of the hole
o down hole length and interception
depth
o hole length.
If the exclusion of this information is
justified on the basis that the information
is not Material and this exclusion does not
detract from the understanding of the
report, the Competent Person should
clearly explain why this is the case.
Data In
reporting
Exploration
Results,
 All drill intersections quoted are > 0.5g/t
aggregation weighting
averaging
techniques,
Au with no weighting of values.
methods 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.

Page | 20

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Criteria JORC Code explanation Commentary
Relationship These
relationships
are
particularly		  All intersections are down-hole widths
between important in the reporting of Exploration only.
mineralisation
Results.
widths and
If the geometry of the mineralisation with
intercept respect to the drill hole angle is known, its
lengths 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’). _
Diagrams Appropriate maps and sections (with  Refer to maps and figures in body of the
scales) and tabulations of intercepts announcement.
should be included for any significant  Geological interpretations are based on
discovery being reported These should current knowledge and will change with
include, but not be limited to a plan view further exploration.
of
drill
hole
collar
locations
and
appropriate sectional views.
Balanced Where comprehensive reporting of all  Key findings and location information has
reporting Exploration Results is not practicable, been reported in body of text.
representative reporting of both low and  Reporting is considered balanced.
high grades and/or widths should be
practiced to avoid misleading reporting of
Exploration Results.
Other Other exploration data, if meaningful and  Geological interpretations have been
substantive material, should be reported including taken from published maps, geophysical
exploration (but
not
limited
to):
geological		 interpretation, historical and ongoing
data observations; geophysical survey results; exploration.
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.
Further work The nature and scale of planned further  Further field programmes and follow-up
work (eg tests for lateral extensions or work will be assessed pending laboratory
depth extensions or large-scale step-out analytical results.
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.

Page | 21

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APPENDIX 2:

Ques�on 36 COMPLIANCE HISTORICAL EXPLORATION RESULTS

In compliance with Ques�on 36 of the ASX “Mining Repor�ng Rules for Mining En��es: Frequently Asked Ques�ons” for “ASX Lis�ng Rules Guidance Note 31” the following table is provided in rela�on to the informa�on contained in this current ASX Release for the EMU NL Georgetown Project comprising tenements EPM 27667, EPM 27664 and EPM 27642.

The items in the below table address compliance with Ques�on 36 of the ASX “Mining Repor�ng Rules for Mining En��es: Frequently Asked Ques�ons” in addi�on to any relevant items already presented in other por�ons of this ASX release.

For the purposes of the table the following compliance terms are used:

  • The “Acquirer” is EMU NL (who is earning into the Georgetown Project)[14]

  • The “Former Owner” comprise explora�on companies:

  • Diatreme Resources Limited

  • Ba�le Mountain Australia Inc.

  • CRA Explora�on Pty Ltd

  • Keela-Wee Explora�on Limited

  • O’Rourke Geological Contractors Pty Ltd

  • Georgetown Mining Limited

  • Mega Georgetown Pty Ltd

Obligation Under Question 36 Answer

That the exploration results have been
reported by the former owner rather
than the acquirer
The Explora�on Results discussed by the
Acquirer in this release are reported where
referenced by the Former Owner of the
granted tenements.

The historical Explora�on Results reported by
the Former Owner include explora�on ac�vi�es
by previous holders of the granted tenure or
over overlaying tenures contained within the
Georgetown Project tenements.

The source and date of exploration
results – the announcement must attach
a copy of the original report of the
Exploration Results by the Former Owner
or state the location where the report
can be viewed by interested readers
Please refer to website GSQ Open Data Portal
(h�ps://geoscience.data.qld.gov.au)Company
Reports 20472, 21962, 23854, 28639, 42618,
71155, 17451, 42451, 40029, 23854. See
footnotes for detailed report numbers
corresponding to specifc historic Explora�on
Results reported in the body of the
announcement.

Which edition of the JORC Code they
were reported under and the fact that
the reporting of those Exploration
The historical Explora�on Results were
reported in explora�on reports and at all �mes
supported with data packages, laboratory
cer�fcates of analysis etc.

14 See ASX Release “Scale Project Added to Exploration Portfolio” 1 September 2022

Page | 22

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Results may not conform to the JORC
Code 2012
It is the Competent Persons opinion that the
historical Explora�on Results were reported in a
manner that is comparable to JORC Code 2004

The Acquirers view on the reliability of
the Exploration Results including by
reference to any of the criteria in Table 1
the JORC Code 2012 which are relevant
to understanding the reliability of the
Exploration Results
It is the Competent Persons opinion that the
Explora�on Results are reliable because the
collected samples were assayed by accredited
and reputable laboratories to high standards
and recorded and verifed on Cer�fcates of
Analysis.

Suppor�ng drill hole data, rock chip and stream
sediment data includes feld logs and sampling
logs and assays as referenced in company
reports.

Explora�on Reports

Due diligence has been completed by in feld
loca�on verifca�on of geology and rock type

The Competent Person has reviewed the
reliability of the results and has verifed that
historic Explora�on Results are reliable against
the JORC Code 2012 Table 1 on a “if not, why
not” basis

To the extend known, a summary of the
work programmes on which the
exploration results were based
The explora�on results in this announcement
which are the historical Explora�on Results
were not reported to the JORC Code 2012 but
have been reported in a manner consistent
with JORC Code 2004.

The historic work programmes and Explora�on
Results have been detailed in Company reports
here. (h�ps://geoscience.data.qld.gov.au)
Company Reports 20472, 21962, 23854, 28639,
42618,71155,17451,42451,40029,23854.

Any more recent Exploration Results or
data relevant to understanding the
Exploration Results
The historic work programmes and Explora�on
Results have been detailed in Company reports
here. (h�ps://geoscience.data.qld.gov.au)
Company Reports 20472, 21962, 23854, 28639,
42618, 71155, 17451, 42451, 40029, 23854.

The current understanding of the historical
Explora�on Results is discussed in the body of
text in this announcement.

The evaluation and/or exploration that
needs to be completed to report the
Exploration Results in accordance to JOC
Code 2012
Refer to “Future Work” in body of text in the
announcement.

Acquirer has only recent secured the
explora�on tenements for explora�on and
progress its understanding of both current and
historical Explora�on Results to build a
database of informa�on that will progress the
Georgetown Project towards compliant JORC
Code 2012 status

Further desktop studies will be undertaken to
interrogate the historical Explora�on Results
aimed to bring the results to JORC Code 2012
compliance

Page | 23

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The prosed timing of any evaluation
and/or exploration work that the
Acquirer intends to undertake and a
comment on how the Acquirer intends to
fund that work
The Acquirer has recently completed a capital
raising which has raised sufcient sums to
conduct extensive feld work programmes in
areas that overly the loca�ons from where the
historic Explora�on Results have been
reported.

The Acquirer currently has teams in the feld
located in these areas. Results from samples
collected will be evaluated against the historical
Explora�on Results

A statement by a named Competent
Person(s) that the information in the
market announcement is an accurate
representation of the available data and
studiesfor the material mining project
The Competent Person as signed in this release
believes the informa�on contained in this
announcement is an accurate representa�on of
the available data and studies for the
Georgetown Project

A cautionary statement, proximate to,
and with equal prominence as the
Exploration Results stating that;
o
The Explora�on Results have
not been reported in
accordance to JORC Code 2012;
o
A competent Person has not
done sufcient work to disclose
the Explora�on Results in
accordance with JORC Code
2012;
o
It is possible that following
further evalua�on and/or
explora�on work that the
confdence in the prior reported
Explora�on Results may be
reduced when reported under
the JORC Code 2012;
o
That nothing has come to the
a�en�on of the Acquirer that
causes it to ques�on the
accuracy or reliability of the
Former Owners Explora�on
Results but;
o
The Acquirer has not
independently validated the
Former Owners’ Explora�on
Results and therefore is not to
be regarded as repor�ng,
adop�ng or endorsing those
results.
Refer to the cau�onary notes within the body
of this announcement

The announcement is not otherwise
misleading
Refer to the cau�onary notes within the body
of this announcement

Page | 24

Appendix 3. CR20472 Rock Chip Sample Assay Results

*** BATTLE MOUNTAIN (AUSTRALIA) INC. ***

Subsidiary of Battle Mountain Gold Company

Sample
Number		 Sample
Type		 Northing Eas�ng Grid
Code		 Au
(ppm)		 Ag
(ppm)		 Ag
(ppm)
Cu
(ppm)
Cu
(ppm)
Pb
(ppm)
Pb
(ppm)
2n
(ppm)
2n
(ppm)
As
(ppm)		 Au(R)
(ppm)		 Au(R)
(ppm)
Q12541 RS 8009831 N 765446 E AMG 4.41 10 95 30 110 590
Q12542 RS 8009838 N 765461 E AMG 33.2 35 350 460 170 1400 36.7
Q12543 RS 8009856 N 765478 E AMG 0.93 3 75 75 40 200
Q12544 RS 8009574 N 765181 E AMG < 0.01 < 1 10 5 10 50
Q12545 RS 8009574 N 765181 E AMG 0.12 < 1 < 2 < 5 5 20
Q12546 RS 8009236 N 765137 E AMG 0.06 < 1 < 2 < 5 5 20
Q12547 RS 8009236 N 765137 E AMG 0.02 < 1 5 < 5 5 30
Q12548 RS 8009213 N 765201 E AMG < 0.01 < 1 10 < 5 10 30
Q12549 RS 8009213 N 765201 E AMG 0.07 < 1 < 2 < 5 10 210
Q12550 RS 8009180 N 765264 E AMG < 0.01 < 1 < 2 < 5 5 20
Q12551 RS 8009180 N 765264 E AMG < 0.01 < 1 < 2 < 5 5 20
Q12559 RS 8013568 N 760353 E AMG < 0.01 < 1 2 5 15 < 20
Q12560 RS 8013565 N 760346 E AMG < 0.01 < 1 < 2 5 15 < 20
Q12561 RS 8013561 N 760325 E AMG < 0.01 < 1 2 20 25 < 20 < 0.01
Q12562 RS 8013552 N 760320 E AMG < 0.01 < 1 2 5 25 < 20
Q12563 RS 8013555 N 760326 E AMG < 0.01 < 1 2 10 20 < 20
Q12564 RS 8013542 N 760317 E AMG < 0.01 < 1 < 2 10 10 < 20
Q12565 RS 8013534 N 760313 E AMG < 0.01 < 1 2 10 25 < 20
Q12566 RS 8013390 N 760164 E AMG < 0.01 < 1 5 10 50 < 20
Q12567 RS 8013394 N 760171 E AMG < 0.01 < 1 3 10 30 < 20
Q12568 RS 8013395 N 760187 E AMG < 0.01 < 1 2 10 45 < 20
Q12569 RS 8013398 N 760193 E AMG < 0.01 < 1 2 15 50 < 20
Q12570 RS 8010706 N 759877 E AMG < 0.01 < 1 420 5 20 < 20 < 0.01
Q12571 RS 8010719 N 759871 E AMG < 0.01 < 1 430 5 20 < 20
Q12572 RS 8009604 N 764834 E AMG < 0.01 < 1 120 5 115 < 20
Q12573 RS 8010185 N 765209 E AMG < 0.01 < 1 5 < 5 5 < 20
Q12574 RS 8009801 N 764888 E AMG < 0.01 < 1 5 5 5 < 20
Q12575 RS 8009063 N 764880 E AMG 0.01 50 5 65 < 20
Q12576 RS 8009053 N 764885 E AMG 0.50 530 < 5 50 < 20 0.64
Q12577 RS 8009054 N 764875 E AMG 0.02 2 460 45 45 < 20
Q12578 RS 8008972 N 765301 E AMG 0.08 1 65 50 40 510
Q12579 RS 8009110 N 765354 E AMG 0.01 115 5 85 190 0.01
Q12580 RS 8009805 N 765928 E AMG 0.02 30 5 10 < 20
Q12581 RS 8011248 N 760431 E AMG < 0.01 < 1 10 10 35 < 20
Q12582 RS 8011254 N 760437 E AMG < 0.01 < 1 10 10 30 < 20
Q12583 RS 8011259 N 760438 E AMG 0.01 < 1 10 10 25 < 20
Q12584 RS 8010533 N 760331 E AMG < 0.01 < 1 10 10 15 < 20
Q12585 RS 8010514 N 760327 E AMG 0.10 < 1 5 10 45 < 20
Q12586 RS 8010523 N 760341 E AMG < 0.01 < 1 10 5 20 < 20
Q12587 RS 8010607 N 760510 E AMG 0.12 3 410 45 65 110
012588 RS 8010928 N 760147 E AMG 0.01 2 330 160 220 170 0.01
Q12589 RS 8010918 N 760151 E AMG 0.02 3 730 45 40 120
Q12599 RS 8014300 N 759100 E AMG 0.24 2 10 25 30 50
Q12600 RS 8014300 N 759100 E AMG 20.1 63 20 15 5 120 16.8
Q16559 RS 8012887 N 760322 E AMG 0.02 < 1 2 20 10 < 20
Q16560 RS 8012868 N 760335 E AMG < 0.01 < 1 5 10 20 < 20
Q16561 RS 8012836 N 760369 E AMG < 0.01 < 1 10 80 65 < 20 < 0.01
Q16562 RS 8012854 N 760365 E AMG 0.01 < 1 5 25 25 < 20
Q16563 RS 8011863 N 757962 E AMG 0.01 < 1 10 115 60 < 20
Q16564 RS 8012874 N 760340 E AMG 0.01 < 1 5 20 55 < 20
Q16565 RS 8012883 N 760334 E AMG < 0.01 < 1 5 35 25 < 20
Q16566 RS 8012873 N 760351 E AMG 0.01 < 1 5 40 45 < 20
Q16567 RS 8012928 N 760284 E AMG < 0.01 < 1 2 5 5 < 20
Q16568 RS 8012840 N 760362 E AMG < 0.01 < 1 2 15 20 < 20
Q16572 RS 8011711 N 769171 E AMG 3.24 65 10 10 130 3.29
Q16573 RS 8011703 N 769042 E AMG 0.63 1 5 15 10 30
Q16574 RS 8011666 N 768942 E AMG 0.24 < 1 10 20 15 20
Q16575 RS 8011865 N 769073 E AMG 0.11 < l 20 20 30 < 20
Q16576 RS 8011847 N 768982 E AMG 0.01 < 1 20 20 40 < 20
Q16577 RS 8011848 N 768987 E AMG < 0.01 5 10 5 < 20
Q16578 RS 8011270 N 759637 E AMG 0.01 1 5 25 25 < 20 < 0.01
Q16579 RS 8011267 N 759644 E AMG 0.01 5 25 25 20
Q16580 RS 8011263 N 759651 E AMG < 0.01 1 5 20 25 20
Q16581 RS 8011333 N 759602 E AMG < 0.01 1 5 10 30 < 20
Q16582 RS 8011361 N 759585 E AMG < 0.01 < l 10 10 30 20
Q16583 RS 8011361 N 759585 E AMG 0.02 1 5 15 25 < 20
Q16584 RS 8011377 N 759577 E AMG < 0.01 1 2 5 25 20
Q16585 RS 8010728 N 759769 E AMG < 0.01 1 45 10 60 < 20 < 0.01
Q16586 RS 8010723 N 759772 E AMG 0.02 1 120 10 40 < 20 0.02

Page | 25

Appendix 3. CR20472 Rock Chip Sample Assay Results

*** BATTLE MOUNTAIN (AUSTRALIA) INC. ***

Subsidiary of Battle Mountain Gold Company

*** BATTLE MOUNTAIN (AUSTRALIA) INC. ***
Subsidiary of Battle Mountain Gold Company		 *** BATTLE MOUNTAIN (AUSTRALIA) INC. ***
Subsidiary of Battle Mountain Gold Company
SURFACE SAMPLE ASSAY RECORD-ATP 5064M ROCK SAMPLES
Sample
Sample
Grid
Au

Ag

Cu

Pb

Zn

As

Au(R)

Number

Type
Northing
Eas�ng
Code
(ppm)
(ppm)
(ppm)
(ppm)
(ppm)
(ppm)
(ppm)
Q16587
RS
8010717 N
759773 E
AMG
<
0.01
2
60
15
100
< 20
< 0.01
Q16588
RS
8010788 N
759857 E
AMG
0.02
3
230
85
85
160
< 0.01
Q16589
RS
8010023 N
759381 E
AMG
<
0.01
1
10
20
30
< 20
< 0.01
Q16590
RS
8009569 N
765029 E
AMG
<
0.01
1
155
15
100
70
Q16591
RS
8009555 N
765106 E
AMG
<
0.01
< 1
15
15
25
70
Q16592
RS
8009462 N
765429 E
AMG
<
0.01
< 1
10
20
55
30
Q16593
RS
8009838 N
765446 E
AMG
9.64
15
160
40
210
650
Q16594
RS
8009847 N
765459 E
AMG
24.8
86
145
35
35
310
Q16595
RS
8014500 N
759100 E
AMG
0.46
1
5
10
20
< 20
Q16596
RS
8014400 N
759100 E
AMG
0.24
< 1
15
25
95
< 20
0.22
Q16597
RS
8014400 N
759100 E
AMG
0.30
< 1
5
15
20
< 20
Q16598
RS
8014400 N
759100 E
AMG
3.46
1
50
25
70
70
3.74
QI6599
RS
8014400 N
759100 E
AMG
0.46
< 1
5
400
30
< 20
Q16600
RS
8014400 N
759100 E
AMG
0.96
5
5
5
< 20
Q20758
RS
8014300 N
759100 E
AMG
0.28
< 1
5
15
30
140
Q20759
RS
8014300 N
759100 E
AMG
224
135
5
15
15
< 20
Q20760
RS
8014300 N
759100 E
AMG
17.5
51
15
15
25
70
Q20761
RS
8014300 N
759100 E
AMG
12.9
24
10
< 5
15
140
Q20765
RS
8011740 N
759419 E
AMG
0.18
< 1
5
5
25
20
Q20766
RS
8011732 N
759423 E
AMG
0.12
< 1
5
10
25
20
Q20767
RS
8011764 N
759413 E
AMG
0.14
< 1
5
15
25
100
Q20768
RS
8011820 N
759401 E
AMG
0.16
< 1
5
5
20
< 20
Q20783
RS
8011875 N
768957 E
AMG
<
0.01
< 1
85
20
110
< 20
Q20784
RS
8011874 N
768962 E
AMG
0.01
< 1
70
30
160
< 20
Q20785
RS
8011870 N
768968 E
AMG
<
0.01
< 1
20
15
65
< 20
Q20786
RS
8011871 N
768972 E
AMG
<
0.01
< l
15
20
45
< 20
Q20787
RS
8011866 N
768979 E
AMG
0.04
< 1
55
10
80
< 20
Q20788
RS
8011864 N
768986 E
AMG
0.62
< 1
160
40
270
< 20
Q20789
RS
8011857 N
768987 E
AMG
10.7
7
640
230
830
20
12.8
Q20790
RS
8011855 N
768989 E
AMG
0.07
< 1
25
5
50
20
Q2079I
RS
8011857 N
768989 E
AMG
<		 0.01
< 1
5
< 5
10
< 20
0.01
Q20793
RS
8009738 N
765318 E
AMG
1.21
1
30
15
35
30
1.40
Q20794
RS
8009744 N
765331 E
AMG
0.18
1
80
35
20
210
Q20795
RS
8009753 N
765354 E
AMG
3.06
22
310
85
50
700
2.64
Q20796
RS
8009762 N
765373 E
AMG
0.42
7
130
15
15
110
Q20797
RS
8009778 N
765386 E
AMG
0.37
4
50
160
10
230
0.45
Q20798
RS
8009786 N
765399 E
AMG
3.22
23
720
90
25
1450
3.98
Q20799
RS
8009805 N
765415 E
AMG
0.79
21
560
30
35
960
Q20800
RS
8009819 N
765429 E
AMG
9.98
34
960
115
100
1900
Q25201
RS
8014624 N
760832 E
AMG
0.02
2
20
65
7
Q25202
RS
8014607 N
760865 E
AMG
0.02
1
< 2
15
5
11
Q25203
RS
8014599 N
760898 E
AMG
0.01
1
< 2
20
< 2
9
Q25204
RS
8014608 N
760904 E
AMG
0.01
1
< 2
45
2
24
0.01
Q25205
RS
8014621 N
760894 E
AMG
0.02
1
2
15
15
28
Q25206
RS
8014641 N
760916 E
AMG
0.01
< 1
2
10
30
26
Q25207
RS
8013772 N
759837 E
AMG
0.01
< 1
15
155
110
2
Q25208
RS
8013717 N
759877 E
AMG
0.01
< 1
2
5
< 2
10
Q25209
RS
8011839 N
758270 E
AMG
0.01
< 1
15
20
10
< 1
Q25212
RS
8016836 N
757720 E
AMG
0.01
1
450
100
850
< 1
Q25213
RS
8016141 N
759161 E
AMG
0.01
700
95
1100
< 1
Q25214
RS
8015754 N
759301 E
AMG
0.01
1
20
15
25
< 1
Q25215
RS
8012553 N
758686 £
AMG
0.01
< 1
20
50
40
4
Q25216
RS
8012513 N
758724 E
AMG
0.01
< 1
5
25
20
55
< 0.01
Q25217
RS
8012553 N
758750 E
AMG
<
0.01
< 1
2
25
5
34
Q25218
RS
8012588 N
758724 E
AMG
<
0.01
< 1
2
10
< 2
4
Q25219
RS
8014966 N
757938 E
AMG
0.01
1
5
15
25
1
025220
RS
8014979 N
757916 E
AMG
0.01
1
10
20
40
< 1
Q25221
RS
8014949 N
757891 E
AMG
0.01
1
35
15
30
< 1
Q25222
RS
8012597 N
756171 E
AMG
0.01
1
10
45
200
2
Q25223
RS
8012545 N
756147 E
AMG
<
0.01
2
2
30
490
< 1
Q25224
RS
8013232 N
756249 E
AMG
0.01
1
2
10
5
4
Q25225
RS
8013203 N
756221 E
AMG
<
0.01
< 1
2
10
5
< 1
Q25226
RS
8013188 N
756271 E
AMG
<
0.01
1
5
15
< 2
< 1
Q25227
RS
8011558 N
756275 E
AMG
0.01
35
500
150
16
Q25228
RS
8010442 N
756269 E
AMG
<
0.01
< 1
2
30
45
< 1
025229
RS
8010449 N
756206 E
AMG
0.01
< 1
5
55
85
< 1
025230
RS
8010406 N
756159 E
AMG
0.01
< 1
< 2
75
270
< 1
Q25231
RS
8010421 N
756104 E
AMG
2.54
< 1
20
110
180
< 20
2.80
Q25232
RS
8010825 N
755670 E
AMG
0.19
2
70
45
65
740

Page | 26

Appendix 3. CR20472 Rock Chip Sample Assay Results

*** BATTLE MOUNTAIN (AUSTRALIA) INC. ***

Subsidiary of Battle Mountain Gold Company

*** BATTLE MOUNTAIN (AUSTRALIA) INC. ***
Subsidiary of Battle Mountain Gold Company		 *** BATTLE MOUNTAIN (AUSTRALIA) INC. ***
Subsidiary of Battle Mountain Gold Company
SURFACE SAMPLE ASSAY RECORD-ATP 5064M ROCK SAMPLES
Sample
Number
Sample
Type
Northing
Eas�ng
Grid
Code
Au
(ppm)
Ag
(ppm)
Cu
(ppm)
Pb
(ppm)
Zn
(ppm)
As
(ppm)
Au(R)
(ppm)
Q25233
RS
8010804 N
755703 E
AMG
0.53
< 1
10
10
10
< 20
Q25235
RS
8010733 N
754949 E
AMG
0.74
< 1
10
35
6
< 20
Q25236
RS
8010449 N
756141 E
AMG
0.15
5
15
5
5
< 20
Q25237
RS
8012045 N
763286 E
AMG
9.23
1
15
10
5
< 20
Q25238
RS
8009914 N
764858 E
AMG
9.13
2
630
500
530
40
Q25239
RS
8009880 N
764790 E
AMG
0.43
2
550
420
460
40
Q25240
RS
8009394 N
762409 E
AMG
0.32
3
40
30
25
< 20
0.54
Q25241
RS
8009391 N
762355 E
AMG
0.31
3
200
20
15
460
Q25242
RS
8018606 N
736520 E
AMG
0.01
1
25
25
15
< 20
0.02
Q25243
RS
8009331 N
766172 E
AMG
0.07
< 1
75
20
10
20
Q25244
RS
8010254 N
762614 E
AMG
0.02
< 1
10
5
15
< 20
Q25245
RS
8010229 N
762646 E
AMG
0.04
2
10
20
10
< 20
Q25246
RS
8011112 N
764743 E
AMG
0.01
1
10
10
10
< 20
Q25247
RS
8010000 N
762211 E
AMG
0.01
1
15
25
15
< 20
Q25248
RS
7990553 N
765437 E
AMG
<
0.01
< 1
5
30
25
< 20
Q25249
RS
8009912 N
762245 E
AMG
0.01
1
5
10
65
< 20
Q25250
RS
8009407 N
761719 E
AMG
0.04
2
45
10
20
< 20
Q25251
RS
8009352 N
761730 E
AMG
<
0.01
1
5
5
175
40
< 0.01
Q25252
RS
8009374 N
761744 E
AMG
<
0.01
1
10
< 5
15
30
Q25253
RS
8009364 N
761769 E
AMG
0.01
1
140
5
40
50
Q25254
RS
8009358 N
761787 E
AMG
0.01
< 1
15
25
60
50
Q25255
RS
8009342 N
761777 E
AMG
0.03
< 1
60
< 5
30
90
Q25256
RS
8009307 N
761766 E
AMG
0.04
< 1
5
5
45
180
Q25257
RS
8009503 N
760329 E
AMG
0.01
< 1
20
10
10
110
Q25258
RS
8009464 N
760264 E
AMG
0.08
5
40
165
20
210
Q25259
RS
8009621 N
760629 E
AMG
0.11
7
60
30
10
< 20
Q25260
RS
8009607 N
760660 E
AMG
0.23
8
45
20
15
< 20
Q25261
RS
8011669 N
768956 E
AMG
16.2
4
35
20
55
100
Q25262
RS
8013633 N
770889 E
AMG
1.76
10
4100
1050
2320
90
1.58
Q25263
RS
8013639 N
770948 E
AMG
0.09
3
45
25
20
< 20
Q25264
RS
8013672 N
770999 E
AMG
0.41
6
30
110
30
< 20
Q25265
RS
8013718 N
771060 E
AMG
0.07
< 1
60
270
20
30
Q25266
RS
8013768 N
771111 E
AMG
0.09
4
20
50
10
< 20
Q25267
RS
8011849 N
768976 E
AMG
3.42
< 1
9000
175
810
< 20
3.50
Q25268
RS
8011853 N
769001 E
AMG
10.6
41
3400
2700
2050
< 20
Q25269
RS
8011855 N
769005 E
AMG
1.22
< 1
50
660
1180
< 20
025270
RS
8011855 N
769010 E
AMG
33.3
40
400
260
220
< 20
Q25271
RS
8011855 N
769000 E
AMG
0.54
< 1
15
25
10
20
Q25272
RS
8011856 N
769007 E
AMG
43.6
80
3300
2450
2590
< 20
Q25273
RS
8011855 N
769009 E
AMG
1.53
1
50
55
50
< 20
Q25274
RS
8011611 N
769368 E
AMG
0.15
1
15
15
10
< 20
Q25275
RS
8013492 N
759887 E
AMG
1.41
1
15
15
30
30
1.28
Q25276
RS
8013443 N
759925 E
AMG
19.8
15
15
10
20
40
20.0
Q25277
RS
8013448 N
759935 E
AMG
2.09
1
10
5
15
40
1.80
Q25278
RS
8013428 N
759941 E
AMG
0.44
< 1
10
15
25
30
0.34
Q25279
RS
8013364 N
759985 E
AMG
4.03
3
15
20
15
400
3.83
Q25280
RS
8013355 N
759991 E
AMG
0.34
< 1
10
15
20
160
Q25281
RS
8013332 N
760004 E
AMG
4.21
2
10
15
20
110
5.08
Q25282
RS
8013060 N
760180 E
AMG
1.41
< 1
5
10
25
< 20
Q25283
RS
8013337 N
760029 E
AMG
0.06
1
90
25
25
< 20
Q25284
RS
8013334 N
760028 E
AMG
0.10
< 1
35
< 5
10
< 20
Q25285
RS
8013333 N
760031 E
AMG
0.01
1
25
10
25
< 20
Q25299
RS
8012859 N
760358 E
AMG
0.01
< 1
5
10
10
< 20
Q25300
RS
8012854 N
760364 E
AMG
<		 0.01
< 1
2
5
5
< 20
Q3000I
RS
8014300 N
759100 E
AMG
0.06
2
40
25
110
550
Q30002
RS
8014300 N
759100 E
AMG
0.02
2
30
30
115
480
Q30003
RS
8014300 N
759100 E
AMG
0.01
1
25
30
50
390
0.06
Q30004
RS
8014300 N
759100 E
AMG
0.01
1
45
30
180
500
Q30005
RS
8014300 N
759100 E
AMG
0.16
1
45
15
30
120
0.18
Q30006
RS
8014300 N
759100 E
AMG
0.01
1
25
15
5
100
< 0.01
Q30007
RS
8014300 N
759100 E
AMG
<
0.01
1
15
20
25
80
0.06
Q30008
RS
8014300 N
759100 E
AMG
<
0.01
1
5
15
45
60
0.02
Q30009
RS
8014300 N
759100 E
AMG
0.01
2
75
10
105
120
Q30010
RS
8014300 N
759100 E
AMG
0.02
1
65
15
60
110
Q30011
RS
8014300 N
759100 E
AMG
<
0.01
2
50
10
90
40
< 0.01
Q30012
RS
8014300 N
759100 E
AMG
<
0.01
2
70
15
85
40
Q30013
RS
8014300 N
759100 E
AMG
0.03
2
100
15
70
40
Q30014
RS
8014300 N
759100 E
AMG
0.01
2
30
10
50
20
0.01
Q30015
RS
8014300 N
759100 E
AMG
<
0.01
2
35
5
35
20

Page | 27

Appendix 3. CR20472 Rock Chip Sample Assay Results

*** BATTLE MOUNTAIN (AUSTRALIA) INC. ***

Subsidiary of Battle Mountain Gold Company

SURFACE SAMPLE ASSAY RECORD-ATP 5064M ROCK SAMPLES SURFACE SAMPLE ASSAY RECORD-ATP 5064M ROCK SAMPLES
Sample
Number
Sample
Type
Northing
Eas�ng
Grid
Code
Au
(ppm)
Ag
(ppm)
Cu
(ppm)
Pb
(ppm)
2n
(ppm)
As
(ppm)
Au(R)
(Ppm)
Q30016
RS
8014400 N
759100 E
AMG
<
0.01
2
25
35
90
90
Q30017
RS
8014400 N
759100 E
AMG
<		 0.01
1
15
35
105
40
< 0.01
Q30018
RS
8014400 N
759100 E
AMG
<		 0.01
2
45
25
110
50
Q30019
RS
8014400 N
759100 E
AMG
<		 0.01
< 1
60
15
< 2
60
Q30020
RS
8014400 N
759100 E
AMG
<
0.01
< 1
75
15
55
40
Q30021
RS
8014400 N
759100 E
AMG
<
0.01
< 1
125
10
145
20
< 0.01
Q30022
RS
8014400 N
759100 E
AMG
<
0.01
< 1
75
10
115
20
Q30023
RS
8014400 N
759100 E
AMG
<
0.01
< 1
100
10
80
< 20
Q30024
RS
8014400 N
759100 E
AMG
<
0.01
< 1
65
10
60
20
Q30025
RS
8014400 N
759100 E
AMG
<		 0.01
< 1
55
15
75
< 20
Q30026
RS
8014300 N
759100 E
AMG
0.02
< 1
20
35
105
180
Q30027
RS
8014300 N
759100 E
AMG
0.01
< 1
10
35
30
120
Q30028
RS
8014300 N
759100 E
AMG
0.02
< 1
5
30
10
70
Q30029
RS
8014300 N
759100 E
AMG
0.16
< 1
10
40
10
40
Q30030
RS
8014300 N
759100 E
AMG
90.2
30
55
40
30
200
82.2
Q30031
RS
8014300 N
759100 E
AMG
0.46
< 1
190
15
130
200
0.78
Q30032
RS
8014300 N
759100 E
AMG
0.03
< 1
200
15
135
70
Q30033
RS
8014300 N
759100 E
AMG
0.05
< 1
165
20
80
90
Q30034
RS
8014300 N
759100 E
AMG
0.03
< 1
75
15
90
130
Q30035
RS
8013486 N
759883 E
AMG
0.03
< 1
30
20
35
70
Q30036
RS
8013487 N
759884 E
AMG
0.29
< 1
10
20
10
30
Q30037
RS
8013487 N
759885 E
AMG
0.08
< 1
10
30
10
< 20
Q30038
RS
8013488 N
759886 E
AMG
0.08
< 1
15
30
15
30
Q30039
RS
8013490 N
759888 E
AMG
0.14
< 1
20
20
20
330
Q30040
RS
8013491 N
759889 E
AMG
0.09
< 1
10
20
10
440
0.08
Q30041
RS
8013493 N
759890 E
AMG
0.08
< 1
10
15
< 2
180
Q30042
RS
8013495 N
759893 E
AMG
2.17
< 1
15
15
5
150
2.12
Q30043
RS
8013496 N
759894 E
AMG
5.38
< 1
15
20
5
310
3.11
Q30044
RS
8013496 N
759894 E
AMG
0.15
< 1
5
15
< 2
60
Q30045
RS
8013445 N
759921 E
AMG
0.02
< 1
55
10
5
30
Q30046
RS
8013445 N
759922 E
AMG
0.04
< 1
50
5
15
120
Q30047
RS
8013446 N
759923 E
AMG
0.63
1
20
15
10
180
Q30048
RS
8013447 N
759924 E
AMG
0.28
< 1
15
30
20
30
0.32
Q30049
RS
8013448 N
759924 E
AMG
5.86
< 1
15
20
2
60
5.38
Q30050
RS
8013449 N
759925 E
AMG
1.28
< 1
10
25
2
50
0.96
Q30051
RS
8013449 N
759926 E
AMG
0.54
< 1
10
15
3
20
Q30052
RS
8013450 N
759926 E
AMG
0.06
< 1
10
30
2
40
030053
RS
8013451 N
759927 E
AMG
0.66
< 1
30
20
35
160
Q30054
RS
8013451 N
759927 E
AMG
0.16
< 1
35
20
65
60
Q30055
RS
8013452 N
759928 E
AMG
0.02
< 1
5
20
2
30
Q30056
RS
8013453 N
759928 E
AMG
0.02
< 1
5
15
5
110
0.02
Q30057
RS
8013400 N
759952 E
AMG
0.15
< 1
20
15
15
40
Q30058
RS
8013401 N
759953 E
AMG
0.56
< 1
25
10
25
160
Q30059
RS
8013402 N
759954 E
AMG
0.38
< 1
10
15
< 2
< 20
Q30060
RS
8011863 N
757962 E
AMG
0.03
< 1
5
10
< 2
< 20
Q30061
RS
8011863 N
757962 E
AMG
0.04
< 1
10
15
< 2
30
Q30062
RS
8013405 N
759956 E
AMG
0.02
< 1
5
15
2
30
Q30063
RS
8013405 N
759957 E
AMG
0.10
< 1
15
40
30
220
Q30064
RS
8013406 N
759958 E
AMG
0.79
< 1
20
20
35
120
0.52
Q30065
RS
8013333 N
759996 E
AMG
1.13
< 1
35
15
55
80
Q30066
RS
8013333 N
759999 E
AMG
0.11
< 1
10
25
20
120
Q30067
RS
8013334 N
760002 E
AMG
0.49
< 1
10
40
10
510
0.51
Q30068
RS
8013334 N
760005 E
AMG
2.64
< 1
25
35
30
180
5.42
Q30069
RS
8013336 N
760007 E
AMG
1.74
< 1
20
20
2
140
2.50
Q30070
RS
8013338 N
760008 E
AMG
0.24
< 1
15
20
30
40
Q30071
RS
8013338 N
760010 E
AMG
0.01
< 1
5
30
25
< 20
0.04
Q30072
RS
8013339 N
760012 E
AMG
0.06
< 1
5
20
20
20

Page | 28

Appendix 3. CR20472 Rock Chip Sample Assay Results

*** BATTLE MOUNTAIN (AUSTRALIA) INC. ***

Subsidiary of Battle Mountain Gold Company

SURFACE SAMPLE ASSAY RECORD-ATP 5064M ROCK SAMPLES SURFACE SAMPLE ASSAY RECORD-ATP 5064M ROCK SAMPLES SURFACE SAMPLE ASSAY RECORD-ATP 5064M ROCK SAMPLES SURFACE SAMPLE ASSAY RECORD-ATP 5064M ROCK SAMPLES
Sample Sample Au Ag Cu Pb Zn As Au(R)
Number Type (ppra) (ppm) (ppm) (ppm) (ppm) (ppm) (ppm)
Q12552 RS 0.01 < 1 5 15 5 < 20
Q12553 RS 0.01 < 1 10 10 5 < 20
Q12554 RS 0.02 < 1 2 20 5 < 20
Q12555 RS < 0.01 < 1 10 20 5 < 20
Q12556 RS < 0.01 < 1 15 90 10 < 20
Q12557 RS < 0.01 < 1 5 10 5 < 20 < 0.01
Q12558 RS < 0.01 < 1 10 25 10 240
Q12590 RS < 0.01 < 1 15 70 5 80
Q12591 RS < 0.01 1 15 25 60 20
Q12592 RS < 0.01 1 5 25 40 < 20
Q12593 RS < 0.01 3 175 30 400 < 20
Q12594 RS < 0.01 1 10 15 40 < 20
Q12595 RS 0.09 < 1 5 15 35 < 20
Q12596 RS < 0.01 1 5 15 40 < 20 < 0.01
Q12597 RS < 0.01 1 2 25 220 < 20
Q12598 RS < 0.01 < 1 5 15 50 < 20
Q16569 RS < 0.01 < 1 5 20 40 < 20
Q16570 RS < 0.01 < 1 2 40 25 < 20 < 0.01
Q16571 RS 2.09 < 1 2 30 20 < 20
Q20762 RS 0.30 < 1 < 2 10 15 < 20
Q20763 RS 0.22 < 1 < 2 10 20 < 20
Q20764 RS 0.14 < 1 < 2 20 15 < 20 0.10
Q20769 RS 0.16 < 1 85 95 75 40
Q20770 RS < 0.01 < 1 5 5 5 < 20
Q20771 RS < 0.01 < 1 5 10 < 2 < 20
Q20772 RS < 0.01 < 1 10 10 10 < 20
Q20773 RS < 0.01 < 1 5 5 5 < 20
Q20774 RS < 0.01 < 1 5 15 5 < 20
Q20775 RS < 0.01 < 1 5 10 10 < 20
Q20776 RS < 0.01 < 1 5 10 10 < 20 0.01
Q20777 RS < 0.01 < 1 5 5 10 < 20
Q20778 RS < 0.01 < 1 5 < 5 5 < 20 < 0.01
Q20779 RS 0.01 < 1 10 10 10 < 20
Q20780 RS < 0.01 < 1 60 15 50 < 20 < 0.01
Q20781 RS < 0.01 < 1 105 20 15 40
Q20782 RS 0.01 < 1 55 10 10 30
Q20792 RS 0.05 < 1 2 < 5 5 < 20
Q25286 RS 0.01 < 1 15 10 40 < 20
Q25287 RS < 0.01 < 1 10 10 35 < 20 < 0.01
Q25288 RS 0.05 16 340 1350 90 < 20
Q25289 RS 0.02 100 155 105 < 20
Q25290 RS 0.01 1 60 130 35 < 20
Q25291 RS < 0.01 < 1 15 < 4 < 5 < 20
Q25292 RS 0.01 < 1 200 35 40 250
Q25293 RS < 0.01 < 1 10 25 30 50
Q25294 RS < 0.01 < 1 5 25 20 < 20 < 0.01
Q25295 RS < 0.01 < 1 5 20 35 < 20
Q25296 RS 0.10 < 1 5 20 25 < 20
Q25297 RS < 0.01 < l 2 25 55 < 20
Q25298 RS 0.01 < l 5 25 30 < 20
Q37857 RSG < 0.01 < 1 5 20 60 < 20
Q37858 RSG 0.01 < 1 5 10 25 < 20
Q37859 RSG < 0.01 < 1 5 20 25 < 20
Q37860 RSG < 0.01 < 1 5 20 40 < 20
Q37861 RSG < 0.01 < 1 5 40 50 < 20
Q37862 RSG < 0.01 < l 5 20 60 < 20

Page | 29

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