ESTRELLA RESOURCES LIMITED — Capital/Financing Update 2016

Nov 20, 2016

==> picture [185 x 74] intentionally omitted <==

21 November 2016

ASX ANNOUNCEMENT

HIGH GRADE LITHIUM DISCOVERED AT SURFACE

MT EDWARDS LITHIUM PROJECT

HIGHLIGHTS

• Highly encouraging results from Phase II rock chip sampling, with assays up to 2.24% Li2O at the newly discovered “Atomic Three” prospect

• Nine samples returned over 200ppm Li2O, adding to the existing high priority drill targets

• A high density cluster of pegmatites located at Atomic Three, which is emerging as a very high priority target area

• MELP prospects rapidly expanding in size and number through methodical exploration programs

==> picture [487 x 307] intentionally omitted <==

Figure 1. Hand specimen from the MEL0024 sample site, Atomic Three prospect, which returned 2.24% Li2O

Estrella Resources Limited (ASX:ESR) (Estrella or the Company), is pleased to announce the results of Phase II rock chip sampling by Mt Edwards Lithium Pty Ltd on the Mt Edwards Lithium Project (MELP). Estrella will hold 75% of the lithium rights to a group of tenements held by Apollo Phoenix Resources Limited (which holds the remaining 25% of the lithium rights) upon completion of the MELP acquisition (refer to ASX release by ESR 7[th] November 2016).

Office Address Suite 1503B Level 15, 1 Alfred Street New South Wales 2000 Australia Postal Address PO Box R933 Royal Exchange New South Wales 1225 Australia Phone +61 2 9078 7671 Email info@estrellaresources.com.au

==> picture [585 x 10] intentionally omitted <==

==> picture [185 x 74] intentionally omitted <==

PHASE II ROCK CHIP RESULTS

Assay results for the Phase II rock chip sampling program have been received and the results are highly encouraging. Nine samples returned over 200ppm Li2O, representing new high priority drill targets. Another three samples returned over 100ppm Li2O, representing second order targets for follow-up sampling. One stand-out result from the newly named Atomic Three prospect returned 2.24% Li2O.

As mentioned in previous announcements, an estimated 40% of the known outcropping pegmatite occurrences on the MELP remain untested for lithium. The remaining pegmatites will be systematically sampled during future fieldwork programs.

Table 1. Rock chip sampling details. NA means Not Assayed and BD means Below Detection.

Sample_ID	Zone	East	North	RL	B_ppm	Li_ppm	Nb_ppm	Ta_ppm	**Li2O_ppm **	Comments
36739	51J	360580	6513865	377.3305	<20	1020	140	20	2196	Phase I
36740	51J	360533	6513867	374.8501	<20	1230	70	10	2648	Phase I
36741	51J	360513	6513863	374.7665	<20	75	70	10	161	Phase I
36742	51J	359779	6514410	373.7617	<20	15	<10	<10	32	Phase I
36743	51J	359727	6514722	368.8717	<20	280	120	15	603	Phase I
36744	51J	360668	6514689	369.6758	<20	60	65	20	129	Phase I
36748	51J	358261	6514378	361.5311	<20	<10	30	15	11	Phase I
36749	51J	358116	6514264	362.3623	<20	15	25	25	32	Phase I
36750	51J	357981	6514448	359.5829	<20	120	85	10	258	Phase I
36751	51J	357933	6514680	354.8893	<20	70	125	35	151	Phase I
36752	51J	357915	6514683	354.3996	<20	475	75	10	1023	Phase I
36753	51J	357519	6514674	347.1887	<20	25	15	<10	54	Phase I
36754	51J	357519	6514674	347.1887	<20	20	<10	<10	43	Phase I
36755	51J	357548.2	6514855	347.2026	<20	360	60	15	775	Phase I
36757	51J	356050	6516818	361.8765	<20	25	30	<10	54	Phase I
36758	51J	356050	6516818	361.8765	<20	<10	<10	<10	11	Phase I
36759	51J	355682	6516990	364.0088	125	<10	<10	<10	11	Phase I
36760	51J	360318	6516518	363.6057	25	155	60	105	334	Phase I
Munda Grab Sample(Bulk)	51J	360564.5	6513714	380	NA	NA	NA	NA	33680	Phase I
Munda Grab Sample(Pink)	51J	360562.9	6513717	380	NA	NA	NA	NA	20490	Phase I
MEL0002	51J	360782	6514133	363.2725	NA	70	105	95	151	Phase II
MEL0003	51J	360851	6514540	363.2443	NA	BD	140	85	BD	Phase II
MEL0004	51J	360798	6514517	364.1181	NA	BD	60	40	BD	Phase II
MEL0005	51J	359468	6514494	372.4431	NA	175	115	30	377	Phase II
MEL0006	51J	359540	6514474	374.0265	NA	490	55	BD	1055	Phase II
MEL0007	51J	358636	6513648	363.028	NA	200	20	BD	431	Phase II
MEL0008	51J	358653	6513542	365.4653	NA	265	485	55	571	Phase II
MEL0009	51J	358574	6513774	359.7336	NA	230	85	10	495	Phase II
MEL0010	51J	358563	6513799	359.5058	NA	275	210	20	592	Phase II
MEL0011	51J	357969	6513671	354.1269	NA	65	15	BD	140	Phase II
MEL0012	51J	358443	6510874	324.4362	NA	20	30	BD	43	Phase II
MEL0013	51J	358071	6511048	332.9713	NA	10	50	BD	22	Phase II
MEL0014	51J	357603	6514828	347.2584	NA	35	15	BD	75	Phase II
MEL0015	51J	360698	6516302	367.1941	NA	30	70	25	65	Phase II
MEL0016	51J	360751	6516030	369.3803	NA	BD	BD	BD	BD	Phase II
MEL0017	51J	360732	6516110	368.7843	NA	BD	60	25	BD	Phase II
MEL0018	51J	360758	6516143	368.5767	NA	70	75	35	151	Phase II
MEL0019	51J	358861	6518600	357.738	NA	165	15	BD	355	Phase II
MEL0020	51J	358854	6518375	359.3091	NA	35	15	BD	75	Phase II
MEL0021	51J	358910	6518100	362.6401	NA	15	20	BD	32	Phase II
MEL0022	51J	356549	6517587	370.365	NA	BD	10	BD	BD	Phase II
MEL0023	51J	361046	6519744	378.4466	NA	80	75	110	172	Phase II
MEL0024	51J	360946	6519692	368.7632	NA	10400	105	185	22391	Phase II
MEL0025	51J	361088	6519971	373.3305	NA	215	55	75	463	Phase II
Highly anomalous result requiring follow-up drill testing

Office Address Suite 1503B Level 15, 1 Alfred Street New South Wales 2000 Australia Postal Address PO Box R933 Royal Exchange New South Wales 1225 Australia Phone +61 2 9078 7671 Email info@estrellaresources.com.au

==> picture [585 x 10] intentionally omitted <==

==> picture [185 x 74] intentionally omitted <==

==> picture [485 x 530] intentionally omitted <==

Figure 2. Map showing sample locations and results from Phase I and Phase II sampling. Results are in ppm unless stated otherwise. BD means Below Detection.

==> picture [585 x 10] intentionally omitted <==

Office Address Suite 1503B Level 15, 1 Alfred Street New South Wales 2000 Australia Postal Address PO Box R933 Royal Exchange New South Wales 1225 Australia Phone +61 2 9078 7671 Email info@estrellaresources.com.au

==> picture [185 x 74] intentionally omitted <==

==> picture [486 x 276] intentionally omitted <==

Figure 3. MEL0024 rock chip sample location.

ATOMIC THREE PROSPECT

This new high priority prospect is an area of about 1km[2] where there is a particularly high density of pegmatite bodies. There are over 40 pegmatite occurrences in the area and only three of them sampled so far. All three samples were anomalous and one, MEL0024, returned a highly anomalous result from a surface sample of 2.24% Li2O.

This is a good example of the high prospectivity of the MELP and shows how much work is required to fully assess its potential. Mt Edwards Lithium is working methodically through the most highly ranked targets in preparation for drill testing in the 1[st] Quarter of the 2017 Calendar Year.

==> picture [585 x 10] intentionally omitted <==

Office Address Suite 1503B Level 15, 1 Alfred Street New South Wales 2000 Australia Postal Address PO Box R933 Royal Exchange New South Wales 1225 Australia Phone +61 2 9078 7671 Email info@estrellaresources.com.au

==> picture [185 x 74] intentionally omitted <==

==> picture [490 x 536] intentionally omitted <==

Figure 4. Map of the Atomic Three prospect showing the three rock chip samples collected and the dense cluster of unsampled pegmatites. Results are in ppm unless stated otherwise. BD means Below Detection.

==> picture [585 x 10] intentionally omitted <==

Office Address Suite 1503B Level 15, 1 Alfred Street New South Wales 2000 Australia Postal Address PO Box R933 Royal Exchange New South Wales 1225 Australia Phone +61 2 9078 7671 Email info@estrellaresources.com.au

==> picture [185 x 74] intentionally omitted <==

ABOUT THE MELP

The MELP consists of 16 tenements covering over 127km[2] on the highly prospective Widgiemooltha Dome. It is located centrally within what is emerging as a highly endowed and globally significant lithium province.

The MELP location in relation to the other significant LCT pegmatite projects in the province is as follows:

• 2km east of the recent Goldfields Lithium Alliance (GLIA) Widgiemooltha project acquisition

• 2km south of Maximus Resources’ recent “high grade lithium discovery” at Spargoville

• 40km south of the Mt Marion Lithium project

• 40km SSE of the Londonderry Pegmatites and Lithium Australia’s Lithium Hill project

• 60km west of the Bald Hill Sn-Ta-Li project and Tawana Resources’ Cowan project

• 30km north of Pioneer Resources Limited Pioneer Dome Lithium project

==> picture [481 x 340] intentionally omitted <==

Figure 5. Location of the MELP in relation to other significant LCT pegmatite projects in the region.

==> picture [585 x 10] intentionally omitted <==

Office Address Suite 1503B Level 15, 1 Alfred Street New South Wales 2000 Australia Postal Address PO Box R933 Royal Exchange New South Wales 1225 Australia Phone +61 2 9078 7671 Email info@estrellaresources.com.au

==> picture [153 x 64] intentionally omitted <==

Table 2. Tenement Schedule.

Schedule of Mining and Exploration Tenements	Schedule of Mining and Exploration Tenements	Schedule of Mining and Exploration Tenements	Schedule of Mining and Exploration Tenements	Schedule of Mining and Exploration Tenements	Schedule of Mining and Exploration Tenements	Schedule of Mining and Exploration Tenements
Country	State/Region	Project	Tenement ID	Area Km2	Grant Date	Interest %
Australia	WA	Mt Edwards Lithium Project	M15/698	4.2	22/12/1994	75
Australia	WA	Mt Edwards Lithium Project	M15/75	5.7	10/11/1984	75
Australia	WA	Mt Edwards Lithium Project	M15/699	3.4	23/12/1994	75
Australia	WA	Mt Edwards Lithium Project	M15/87	3.6	26/07/1984	75
Australia	WA	Mt Edwards Lithium Project	M15/74	9.3	10/11/1984	75
Australia	WA	Mt Edwards Lithium Project	M15/101	9.6	23/07/1984	75
Australia	WA	Mt Edwards Lithium Project	M15/99	9.8	23/07/1984	75
Australia	WA	Mt Edwards Lithium Project	M15/653	10	28/01/1993	75
Australia	WA	Mt Edwards Lithium Project	M15/97	6.8	23/07/1984	75
Australia	WA	Mt Edwards Lithium Project	M15/96	8.4	23/07/1984	75
Australia	WA	Mt Edwards Lithium Project	M15/102	9.3	4/01/1985	75
Australia	WA	Mt Edwards Lithium Project	M15/100	9.6	23/07/1984	75
Australia	WA	Mt Edwards Lithium Project	M15/1271	4.8	2/07/2007	75
Australia	WA	Mt Edwards Lithium Project	E15/1505	2	5/10/2016	75
Australia	WA	Mt Edwards Lithium Project	E15/1507	15	Application	75
Australia	WA	Mt Edwards Lithium Project	E15/1562	16	Application	75

For more information, please contact:

Ray Shorrocks info@estrellaresources.com.au

Competent Person Statement

The information in this announcement that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Luke Marshall, who is a consultant to Apollo Phoenix Resources and Mt Edwards Lithium, and a member of The Australasian Institute of Geoscientists. Mr Marshall has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resource and Ore Reserves”. Mr Marshall consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

==> picture [585 x 10] intentionally omitted <==

Office Address Suite 1503B Level 15, 1 Alfred Street New South Wales 2000 Australia Postal Address PO Box R933 Royal Exchange New South Wales 1225 Australia Phone +61 2 9078 7671 Email info@estrellaresources.com.au

APPENDIX 3 JORC TABLE 1 - JORC CODE, 2012 EDITION – TABLE 1 MELP

Section 1 Sampling Techniques and Data

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

Criteria	JORC Code explanation	Commentary
Sampling	Nature and quality of sampling (e.g. cut	The samples reported in this document are rock chip grab samples collected at surface
techniques	channels, random chips, or specific specialised	from outcropping pegmatite occurrences.
	industry standard measurement tools	This involved taking a random grab sample of approximately 3kg using a geological
	appropriate to the minerals under investigation,	hammer and numbered calico bag.
	such as down hole gamma sondes, or handheld
	XRF instruments, etc.). These examples should	These rock chip samples should not be considered to be representative samples of the
	not be taken as limiting the broad meaning of	pegmatite occurrences.
	sampling.	Drill testing is required to collect representative sample data through the pegmatites.
		Samples were analysed by an industry standard crush and grind prep, a 4 acid digest and
		ICP-MS or ICP-OES finish depending on the element being analysed.
	Include reference to measures taken to ensure	No measures have been taken to ensure sample representivity at this stage as the project
	sample representivity and the appropriate	is in the very early stages of assessment.
	calibration of any measurement tools or systems
	used.
	Aspects of the determination of mineralisation	No determinations were made in this regard. Pegmatite occurrences were sampled and
	that are material to the Public Report.	assayed regardless of determination with regard to mineralisation.
	In cases where ‘industry standard’ work has	Rock chip samples were collected using a geological hammer and a calico bag to achieve
	been done this would be relatively simple (e.g.	a random grab sample.
	‘reverse circulation drilling was used to obtain 1	These samples are not considered to be representative of the pegmatites.
	m samples from which 3 kg was pulverised to

==> picture [600 x 9] intentionally omitted <==

Office Address Suite 1503B Level 15, 1 Alfred Street New South Wales 2000 Australia Postal Address PO Box R933 Royal Exchange New South Wales 1225 Australia Phone +61 2 9078 7671 Email info@estrellaresources.com.au

Criteria	JORC Code explanation	Commentary
	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 (e.g. submarine nodules)
	may warrant disclosure of detailed information
Drilling	Drill type (e.g. core, reverse circulation, open-	Not applicable, no drill results are being reported.
techniques	hole hammer, rotary air blast, auger, Bangka,
	sonic, etc.) and details (e.g. core diameter, triple
	or standard tube, depth of diamond tails, face-
	sampling bit or other type, whether core is
	oriented and if so, by what method, etc.).
Drill sample	Method of recording and assessing core and	Not applicable, no drill results are being reported.
recovery	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.
Logging	Whether core and chip samples have been	A log was collected for each sample which included sample location, sample type, date
	geologically and geotechnically logged to a level	sampled and sample condition.

Office Address Suite 1503B Level 15, 1 Alfred Street New South Wales 2000 Australia Postal Address PO Box R933 Royal Exchange New South Wales 1225 Australia Phone +61 2 9078 7671 Email info@estrellaresources.com.au

==> picture [600 x 9] intentionally omitted <==

Criteria	JORC Code explanation	Commentary
	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.
Sub-	If core, whether cut or sawn and whether	Not applicable, no drill results are being reported.
sampling techniques	quarter, half or all core taken.	Not applicable, no drill results are being reported.
and sample preparation	If non-core, whether riffled, tube sampled, rotary	Sample condition field to record moisture and sample recovery is included in the sampling
	split, etc. and whether sampled wet or dry.	log sheet and populates the assay table of the database.
	For all sample types, the nature, quality and	Sample preparation is considered to be appropriate for rock chip sampling as per industry
	appropriateness of the sample preparation	standard practices.
	technique.
		No quality control procedures have been undertaken other than the laboratory’s own
	Quality control procedures adopted for all sub-	internal QAQC check and procedures.
	sampling stages to maximise representivity of
	samples.	Sample sizes may not be appropriate to the grain size of the material being sampled.
		Grain sizes of the pegmatites varied from 4mm to 25mm.
	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.

==> picture [600 x 9] intentionally omitted <==

Office Address Suite 1503B Level 15, 1 Alfred Street New South Wales 2000 Australia Postal Address PO Box R933 Royal Exchange New South Wales 1225 Australia Phone +61 2 9078 7671 Email info@estrellaresources.com.au

Criteria	JORC Code explanation Commentary
	Whether sample sizes are appropriate to the grain size of the material being sampled.
Quality of assay data and laboratory tests	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 (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established. No QAQC procedures have been put in place for the MELP given the very early stage of assessment. No geophysical methods or hand-held XRF units have been used for determination of grades in this announcement.
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel. Not applicable, no intersections are being reported.
	The use of twinned holes. Not applicable, no drill results are being reported.
	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Drill hole data were sourced from digital sources and original hard- copy sampling and assay records, and imported into a central electronic database. Datashed software is used to validate and manage the data.
	Discuss any adjustment to assay data. Li2O was calculated as Li x 2.153.
Location of data points	Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. Rock chip sample locations were recorded by handheld GPS.

==> picture [600 x 9] intentionally omitted <==

Office Address Suite 1503B Level 15, 1 Alfred Street New South Wales 2000 Australia Postal Address PO Box R933 Royal Exchange New South Wales 1225 Australia Phone +61 2 9078 7671 Email info@estrellaresources.com.au

	Specification of the grid system used. Original surveying was undertaken in MGA94 zone 51.
	Quality and adequacy of topographic control. Topographic control is considered more than adequate for the results being reported.
Data spacing and distribution	Data spacing for reporting of Exploration Results. These are random rock chip sampled with no regular data spacing.
	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. Not applicable, no mineral resource or ore reserve is being reported.
	Whether sample compositing has been applied Not applicable for random rock chips.
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. Not applicable, these are spot samples. Not applicable, no drilling is being reported.
Sample security	The measures taken to ensure sample security. Samples were submitted to the SGS Kalgoorlie laboratory by Apollo Phoenix Resources. Sample security was ensured up to this point as the samples were always in the presence of Apollo staff.
Audits or reviews	The results of any audits or reviews of sampling techniques and data. No audits or reviews have been undertaken on the samples being reported due to the small number of samples in the dataset.

==> picture [600 x 9] intentionally omitted <==

Office Address Suite 1503B Level 15, 1 Alfred Street New South Wales 2000 Australia Postal Address PO Box R933 Royal Exchange New South Wales 1225 Australia Phone +61 2 9078 7671 Email info@estrellaresources.com.au

Section 2 Reporting of Exploration Results

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

Criteria	JORC Code explanation	Commentary
Mineral	Type, reference name/number, location and ownership including	Apollo Phoenix Resources (25%) and Mt Edwards Lithium (75%)
tenement and land tenure	agreements or material issues with third parties such as joint	hold a combined 100% interest the lithium rights to the project.
status	ventures, partnerships, overriding royalties, native title interests,	There are no known impediments to operate in the area.
	historical sites, wilderness or national park and environmental
	settings.
	The security of the tenure held at the time of reporting along with any
	known impediments to obtaining a licence to operate in the area.
Exploration	Acknowledgment and appraisal of exploration by other parties.	Exploration has been undertaken by previous holders, but
done by other parties		predominantly Western Mining Corporation (WMC) during the 1980s
		and Titan Resources from 2001. Consolidated Minerals took over
		Titan in 2006. No mining for Li has been undertaken on the project.
Geology	Deposit type, geological setting and style of mineralisation.	The geology at MELP consists of a mafic-ultramafic belt bound to the
		east by metasediments and to the west by granites.
		The mineralisation at MELP consists of pegmatite swarms in
		greenstone belts at some distance from their parent granites.
		The lithium baring minerals identified to date are spodumene and
		accessory lepidolite.
		Depth of complete oxidation varies from 10 to 80 metres below the
		natural surface but is typically around 40 metres.

==> picture [600 x 9] intentionally omitted <==

Office Address Suite 1503B Level 15, 1 Alfred Street New South Wales 2000 Australia Postal Address PO Box R933 Royal Exchange New South Wales 1225 Australia Phone +61 2 9078 7671 Email info@estrellaresources.com.au

Criteria	JORC Code explanation Commentary
Drill hole Information	A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: 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. No drill results are reported in this announcement. No information is excluded.
Data aggregation methods	In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. 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. Not applicable for rock chip sampling.
	The assumptions used for any reporting of metal equivalent values No metal equivalents are used.

Office Address Suite 1503B Level 15, 1 Alfred Street New South Wales 2000 Australia Postal Address PO Box R933 Royal Exchange New South Wales 1225 Australia Phone +61 2 9078 7671 Email info@estrellaresources.com.au

==> picture [600 x 9] intentionally omitted <==

Criteria	JORC Code explanation	Commentary
	should be clearly stated.
Relationship	These relationships are particularly important in the reporting of	Not applicable for random rock chip grab samples.
between mineralisation	Exploration Results.
widths and intercept	If the geometry of the mineralisation with respect to the drill hole
lengths	angle is known, its nature should be reported.
	If it is not known and only the down hole lengths are reported, there
	should be a clear statement to this effect (e.g. ‘down hole length, true
	width not known’).
Diagrams	Appropriate maps and sections (with scales) and tabulations of	Appropriate maps and tables are included in the body of the Report.
	intercepts should be included for any significant discovery being
	reported. These should include, but not be limited to a plan view of
	drill hole collar locations and appropriate sectional views.
Balanced	Where comprehensive reporting of all Exploration Results is not	This is not a large enough dataset to ensure balanced reporting.
reporting	practicable, representative reporting of both low and high grades
	and/or widths should be practiced to avoid misleading reporting of
	Exploration Results.
Other	Other exploration data, if meaningful and material, should be	Pegmatite occurrences were identified from historic detailed
substantive exploration	reported including (but not limited to): geological observations;	geological mapping and then confirmed by ground checking.
data	geophysical survey results; geochemical survey results; bulk samples	Geological observations are included in the report. All core drilled at
	– size and method of treatment; metallurgical test results; bulk	MELP is available for review and is stored at the Fisher mine offices
	density, groundwater, geotechnical and rock characteristics; potential	in Kambalda.
	deleterious or contaminating substances.

==> picture [600 x 9] intentionally omitted <==

Office Address Suite 1503B Level 15, 1 Alfred Street New South Wales 2000 Australia Postal Address PO Box R933 Royal Exchange New South Wales 1225 Australia Phone +61 2 9078 7671 Email info@estrellaresources.com.au

Criteria	JORC Code explanation	Commentary
			Metallurgical test work is out of the scope of this report.
			Multi-element assay suites have been analysed for all but two
			samples.
Further work	The nature and scale of planned further work (e.g. tests for lateral		Further field confirmation and rock chip sampling is planned,
	extensions or depth extensions or large-scale step-out drilling).		followed by drill testing of the most anomalous pegmatites.
	Diagrams clearly highlighting the areas of possible extensions,		The presence of possible extensions cannot be determined at this
	including the main geological interpretations and future drilling areas,		stage.
	provided this information is not commercially sensitive.

==> picture [600 x 9] intentionally omitted <==

Office Address Suite 1503B Level 15, 1 Alfred Street New South Wales 2000 Australia Postal Address PO Box R933 Royal Exchange New South Wales 1225 Australia Phone +61 2 9078 7671 Email info@estrellaresources.com.au