EVEREST METALS CORPORATION LTD — Capital/Financing Update 2020

Sep 23, 2020

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ASX Announcement (ASX: TSC ) 24 September 2020

TSC commences RC drilling on new gold targets at Rover

• RC drilling has commenced at the Rover project where 33 drill-holes for ~1,800m is planned over the next 3 weeks focusing on four main areas:

  • Harmonic - ~1,100m of RC drilling will test 650m long gold in soil anomaly, expanding on the 180m strike length of shallow gold mineralization already defined by earlier RC drilling[4]

  • Creasy 1 - ~400m of RC drilling will test along strike from 19RVRC001 which intercepted 15m @ 3.8g/t Au from 49m including 1m @ 54g/t Au[4]

  • Red Bush – 2 holes will test a strong gold in soil anomaly along strike from 20RVRC045 which intersected gold earlier in the year[3]

  • Maynard Intrusion – initial drill testing will focus on gold in soil anomalies that were identified following the recent geochemistry campaign

• Results to be released progressively over the coming weeks as they come to hand

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Plate 1: Drilling at Harmonic Prospect (file photo from March 2020)

28 Greenhill Road Wayville, SA 5034, Telephone (61 8) 8274 2127, Email: enquiries@twentysevenco.com.au web: www.twentysevenco.com.au ABN: 48 119 978 013

TSC Limited (ASX: TSC) (“TSC” or “the Company”) is pleased to announce the commencement of RC drilling at the Rover Project in WA’s goldfields (Figure 1). Around 33 holes for 1,800m is planned, to test four main areas.

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Figure 1: Rover Project relative to greenstone belt & select peers’ operations

Summary of planned drilling

The RC drilling campaign is designed to follow up on previous significant results. Notably, the focus is to test new anomalous gold results at the Rover Project, following on from TSC’s auger drilling and soil geochemical programs[1,2] . The four areas to be tested in this program include:

• Harmonic – where the prospective target area has been tripled to ~650m by the discovery of a 1.77g/t Au rock chip (RVR123) that is ~400m to the north-west of the nearest RC drill-holes[2] ;

• Creasy 1 – where previous drilling intersected 15m @ 3.8g/t Au from 49m including 1m @ 54g/t Au[4] ;

• Red Bush – a very strong 600m long gold in soil anomaly, supported by rock chips up to 0.6g/t Au, and just north of drill-hole 20RVRC045 which intersected 1m @ 0.97g/t Au, 13.4g/t Ag and anomalous Pb 0.1%, Zn 0.27% and As 0.12 % from 126m[3] ; and

• Maynard Intrusion – a gold in soil anomaly coincident with a favorable trap site, interpreted as a zone of potential high fluid flow at the southern end of the intrusion[1] .

See TSC: ASX 21 September 2020 for more details

Ongoing Exploration and Next Steps

•  RC drilling at Rover with progress updates

•  Due Diligence progress update regarding Mt Dimer and Trident Projects

The Board of Twenty Seven Co. Limited authorised the release of this announcement to the ASX.

For further information please contact:

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Ian Warland CEO

Tel: (08) 8274 2127 M: + 61 410 504 272

iwarland@twentysevenco.com.au

www.twentysevenco.com.au

COMPETENT PERSON’S STATEMENT:

The information in this report that relates to Geological Interpretation and Exploration Results is based on information compiled by Ian Warland, a Competent Person who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Warland is employed Twenty Seven Co. Limited. Mr Warland has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Warland consents to the inclusion in the report of the matters based on his information and the form and context in which it appears.

Reference: Further details relevant to this announcement can be found in ASX releases below:

1. TSC: ASX 3 September Assays confirm significant gold anomalism extensions at Rover

2. TSC: ASX 10 August New gold targets discovered at Rover post assay results

3. TSC: ASX 25 May 2020 Assays confirm new zones of gold & strongly anomalous base metals at Rover

4. TSC:ASX 20 May 2020 Significant gold discovery confirmed at Harmonic and Creasy 1

About Twenty Seven Co. Limited

Twenty Seven Co. (ASX: TSC) is an ASX-listed explorer. In brief, TSC’s Australian assets are 100% owned and comprise two tenure groupings detailed briefly as follows:

WA assets: TSC’s 100% owned Rover project is located TSC’s near Sandstone in a base metals and gold mineral-rich area associated with Archean greenstone belts. Rover Project is a large 460sqkm tenure package covering two linear Archean greenstones, with a combined length of around 160km. Historically the area is underexplored and is currently undergoing a resurgence in exploration.

NSW assets:

• The Midas Project is prospective for iron oxide copper gold (IOCG) and is located 40km NE of Broken Hill.

• TSC owns 33% of the Mundi Mundi Project (MMP) through a binding MOU with Peel Far West Pty Ltd (a subsidiary of Peel Mining; PEX) and private group New Zinc Resources Pty Ltd (NZR). This enlarged MMP area which is highly prospective for IOCG / Broken Hill Type lead-zinc-silver mineralisation, comprises TSC’s Perseus tenement (EL8778) plus contiguous ground from PEX (EL8877) and NZR (EL8729).

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