FireFly Metals Ltd. — Capital/Financing Update 2021

Aug 1, 2021

ASX: AUT 2 August 2021

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ASX ANNOUNCEMENT

Pickle Crow Gold Project, Canada

Latest strong drilling results point to more growth to the 1.7Moz Resource

Drilling hits more gold at the recent Carey discovery and outside the Resource in the near-mine area; 50,000m drilling program ongoing

Key Points

CAREY DISCOVERY

• Highly significant results have been returned at Carey, with mineralisation intersected between the north-west trending veins and the southern contact zone of the Albany Porphyry. Results include:

• 9.8m @ 3.1g/t gold from 140.3m in hole AUDD150

• Final assay results for hole AUDD0141 have been received. The zone of alteration hosted mineralisation returned an intersection of:

• 16.5m @ 2.2g/t within a broader zone 36.7m @ 1.5g/t gold from 150.8m

• Carey is outside the 1.7Moz Resource announced on July 15, 2021

• These results demonstrate the potential for bulk mining at Carey

• Further results are expected this quarter.

NEAR-MINE DRILLING

• Drilling continued to define new mineralisation outside the recently reported 1.7Moz Resource, pointing to continued Resource growth. Key intersections included:

• 3.3m @ 15.9g/t gold from 31.8m in hole PG-G-03A (Shaft 1, crown pillar)

• 0.5m @ 88.7g/t gold from 455m in hole AUDD0184 (Shaft 3, new structure)

• 10.5m @ 3.6g/t gold from 126m in hole AUDD0140 (north of Shaft 3, new zone of BIF hosted mineralisation)

CORPORATE

• Auteco has met the Stage 2 earn-in requirement by incurring C$5M of expenditure at Pickle Crow to earn 70% of the project. Auteco can elect to acquire a further 10% interest by paying C$3M, taking its stake to 80%.

• Auteco remain well funded, with A$21.8M in cash at 30 June 2021

ASX: AUT

ACN: 110 336 733 Principal and Registered Office: Ground Floor 24 Outram Street West Perth WA 6005

Ray Shorrocks - Executive Chairman Michael Naylor - Non-Executive Director Stephen Parsons - Non-Executive Director Nicholas Katris - Company Secretary

T: +61 8 9220 9030 E: info@autecominerals.com W: www.autecominerals.com

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Auteco Minerals (ASX: AUT) is pleased to announce more outstanding drilling results which point to further growth in the 1.7 million ounce Resource at its Pickle Crow gold project in Canada.

Follow-up drilling at the recent Carey discovery (see ASX announcement dated 16 June 2021) continued to confirm the geological model for the area, with an intersection of 9.8m @ 3.1g/t gold returned in hole AUDD150 from a vein array adjacent to the southern contact of the Albany Porphyry.

This is in a similar structural setting to the discovery hole at Carey (Hole AUDD0158, 20.4m @ 5.3g/t gold). Final assays for hole AUDD0141 were returned, with a broad mineralised zone of 36.7m @ 1.5g/t gold from 150.8m, including a zone of 16.5m @ 2.2g/t gold. Further drilling is underway with additional results expected during this quarter.

Drilling in the near-mine area continued to deliver high grade results outside of the 1.7Moz Resource.

A new zone of alteration-hosted mineralisation in banded iron was discovered north of the Shaft 3 area. Assays from the first hole into the target returned an intersection of 10.5m @ 3.6g/t from 126 metres in hole AUDD0140. Additionally, drilling in the shaft 3 area intersected a high-grade vein grading 0.5m @ 88.7g/t gold. This is interpreted to be the same vein structure initially discovered in Hole AUDD0152 (4.9m @ 7.5g/t gold).

Drilling at shaft 1 confirmed the crown pillar between the upper level and surface remains intact, with an intersection of 3.3m @ 15.9g/t gold. This pillar is not included in the 1.7Moz Resource.

Auteco also advises that the second stage expenditure requirement of the earn-in agreement between Auteco and First Mining Gold (TSX:FF) has been satisfied, with Auteco to move to 70% equity ownership of the Pickle Crow project. Auteco can elect to acquire a further 10% interest by paying C$3M to First Mining Gold at any time.

Auteco Executive Chairman Ray Shorrocks said: “These results are very strong and pave the way for another increase in the Resource.

“The intersections at Carey are particularly significant because they sit between two areas of known mineralisation and Carey is excluded from the Resource.

“With the 50,000m drilling program well underway, we look forward to further growth in the Resource and further growth in shareholder value.”

ABOUT THE AUTECO GROWTH PROGRAM

Auteco has a considered strategic approach to provide continued organic growth and a pathway to production for the Pickle Crow deposit (Figure 1). The three-staged approach to work activities will continue to focus on exploration, preparing for a year end Resource estimate and completing activities that potentially demonstrate a pathway to production for the Pickle Crow deposit.

Exploration Drilling

In June 2021, the stage two 50,000m drill campaign commenced. To date 7,990m of drilling for 35 diamond drill holes have been completed from the new program. Assay results have been partially received for 9 holes, and assays are yet to be received for a further 16 holes. There are currently four drill rigs on site.

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Figure 1: Auteco growth program, with the key strategic

The dual strategy of driving near-mine Resource growth combined with early-stage exploration targeting will continue to be the focus of the program.

The near-mine Resource drilling will contribute to a planned Resource update at the end of 2021.

Pathway to Production Activities

In July 2021, open pit optimisations were completed on the mid-year Resource block model to determine the potential for Inferred Resource that could be mined from surface. These results were successful and further work will be completed to increase confidence in the plan.

EXPLORATION AND GEOLOGICAL DETAIL – DRILL RESULTS

The Pickle Crow deposit is a typical Mesothermal narrow-vein high grade Archean orogenic gold deposit, with mineralised veins present within local structures formed within a broader Riedel shear zone. Historically between 1935 and 1966, 1.5 Moz of gold at a grade of 16.1 g/t was mined from more than 10 individual quartz reefs. To date >30 individual veins have been identified proximal to underground shaft infrastructure (Shaft 1, Shaft 3, and Albany Shaft). Exploration results have been grouped based on proximity to the three main shafts.

Shaft 1 and Shaft 3 Area

A plan map showing the collar locations of significant intersections in the shaft 1 and shaft 3 near-mine areas is presented in Figure 2.

Drilling continued to focus on the shaft 3 area, with follow up drilling on the structure discovered in drill hole AUDD0152 (4.9m @ 7.5g/t gold). A narrow but high-grade extension approximately 200 metres south of the discovery hole returned an intersection of 0.5m @ 88.7g/t gold. Drilling further defining this structure will continue during the quarter.

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Figure 2: Auteco significant drill intersections in the Shaft 1 and Shaft 3 areas

A zone of banded iron formation ~600m north of Shaft 3 was targeted in hole AUDD0140, and intersected two zones of alteration mineralisation grading:

• 8.5m @ 1.4g/t gold from 111m, and

• 10.5m @ 3.6g/t gold from 126m

These intersections demonstrate potential for the application of bulk mining methods.

One drill hole was completed to test the integrity of the Shaft 1 crown pillar (hole PC-G-03-A). This hole demonstrated that the pillar was intact and geotechnically sound. The intersection returned was:

• 3.25m @ 15.9g/t gold from 31.8m

Albany – Carey Area

A plan map showing the collar locations of significant intersections in the shaft 1 and shaft 3 near-mine areas is presented in Figure 3.

Follow up drilling at the Carey discovery is in progress. A hole was drilled to test vein arrays within the Albany porphyry adjacent to the southern contact zone, and returned a result of 9.8m @ 3.1g/t from 140.3m in hole AUDD0150.

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Final assays for hole AUDD0141 were returned, defining a broad mineralised zone of 36.7m @ 1.5g/t gold from 150.8m, including a zone of 16.5m @ 2.2g/t gold.

These results continue to confirm the geological model, with testing to continue during the current quarter.

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Figure 3: Auteco significant drill intersections in the Albany – Carey area

This announcement has been authorised for release by the Auteco Board.

For further information, please contact:

Mr Ray Shorrocks Paul Armstrong Executive Chairman Media enquiries Auteco Minerals Ltd Read Corporate +61 8 9220 9030 +61 8 9388 1474

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ABOUT AUTECO MINERALS

Auteco Minerals Ltd (ASX: AUT) is an emerging mineral exploration company focused on advancing high-grade gold resources at the Pickle Crow Gold Project in the world-class Uchi sub-province of Ontario, Canada.

The Pickle Crow Gold Project currently hosts a JORC 2012 Mineral Resource of 1.7 Moz at 8.1 g/t gold, with a 50,000m drilling program underway to expedite Resource growth.

Pickle Crow is one of Canada’s highest-grade gold mines – historically, producing 1.5 Moz at 16 g/t gold.

For further information regarding Auteco Minerals Ltd please visit the ASX platform (ASX: AUT) or the Company’s website https://www.autecominerals.com

COMPETENT PERSON STATEMENT

Certain Exploration Results referred to in this announcement were first reported in accordance with ASX Listing Rule 5.7 in the Company's announcements of 28/01/2020, 26/03/2020, 01/09/2020, 11/11/2020, 19/01/2021, 7/04/2021, 16/06/2021 and 15/07/2021. Auteco confirms that it is not aware of any new information or data that materially affects the information included in the original announcements. The Company confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the original market announcements.

The information in this announcement that relates to new Exploration Results and the Mineral Resource Estimate is based on and fairly represents information and supporting information compiled by Mr Marcus Harden, who is a Member of the Australasian Institute of Geoscientists. Mr Harden is an employee of the Company and has sufficient experience in the style of mineralisation and type of deposit under consideration and qualifies 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 Harden holds securities in Auteco Minerals Limited and consents to the inclusion of all technical statements based on his information in the form and context in which it appears.

The information in this announcement that relates to the Mineral Resource Estimate is based on and fairly represents information and supporting information compiled by Mr Brian Fitzpatrick. Mr Fitzpatrick is a full-time employee of Cube Consulting Pty Ltd, who specialises in mineral resource estimation, evaluation and exploration. Neither Mr Fitzpatrick nor Cube Consulting Pty Ltd holds any interest in Auteco Minerals Ltd, its related parties, or in any of the mineral properties that are the subject of this announcement. Mr Fitzpatrick is a member of the Australian Institute of Geoscientists and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person (or “CP”) as defined in the 2012 Edition of the Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). Mr Fitzpatrick has reviewed the contents of this ASX announcement and consents to the inclusion in this announcement of all technical statements based on his information in the form and context in which they appear.

DISCLAIMER

References to previous ASX announcements should be read in conjunction with this release.

FORWARD LOOKING INFORMATION

Various statements in this announcement constitute statements relating to intentions, future acts, and events. Such statements are generally classified as “forward looking statements” and involve known and unknown risks, uncertainties and other important factors that could cause those future acts, events, and circumstances to differ materially from what is presented or implicitly portrayed herein. The Company gives no assurances that the anticipated results, performance, or achievements expressed or implied in these forward-looking statements will be achieved.

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APPENDIX A: DRILLING RESULTS

TABLE 1: Significant Intercept Table – Auteco Drilling

Cut-off grade of 1 g/t Gold allowing for 1m internal dilution (NSI – No significant Intercept). All cords in UTM NAD 83 z15

Hole No.	Easting	Northing	Elevation	Azimuth	Dip	Drilled Length	From To Width Assay	From To Width Assay	From To Width Assay	From To Width Assay	Comment
						(m)	(m) (m) (m) g/t Au
AUDD0134	705635	5711299	358	200	60	345	10.40	11.05	0.65	6.83
							54.30	57.60	3.30	4.67
							150.00	151.00	1.00	2.28
							189.40	190.40	1.00	7.97
AUDD0137	705617	5711186	355	180	55	345	28.70	43.60	14.90	2.21
							73.95	75.50	1.55	2.32
							83.00	84.00	1.00	1.34
							114.00	114.65	0.65	4.26
AUDD0140	705210	5711475	337	195	75	587	111.00	119.50	8.50	1.40
							126.00	136.50	10.50	3.64
							187.00	188.00	1.00	2.61
							541.00	541.95	0.95	1.20
							544.50	544.80	0.30	7.01
AUDD0141	706024	5711437	354	210	60	189	34.08	35.54	1.46	0.94
							42.00	43.30	1.30	1.27
							150.80	187.50	36.70	1.51
AUDD0144	705954	5711484	360	330	60	141	100.00	101.00	1.00	1.43	Partial Assay
AUDD0145	705820	5711430	361	210	55	221	39.10	40.45	1.35	3.66
							46.05	47.05	1.00	2.94
							55.55	56.10	0.55	4.65
							60.90	66.75	5.85	2.40
AUDD0146	705802	5711140	348	250	55	210	74.00	75.00	1.00	3.57
							83.70	85.65	1.95	1.95
							112.90	113.35	0.45	1.11
AUDD0147	705897	5711466	361	330	55	105	19.90	20.20	0.30	3.27	Partial Assay
AUDD0148	705210	5711475	337	180	73	582	62.45	63.45	1.00	1.07	Partial Assay
							241.90	242.20	0.30	1.39
							544.75	545.40	0.65	1.04
AUDD0149	706177	5711593	350	180	55	138	40.85	43.35	2.50	4.50	Partial Assay
AUDD0150	705964	5711328	350	200	50	252	83.75	84.75	1.00	1.28	Partial Assay
							126.05	127.00	0.95	1.11
							140.30	150.10	9.80	3.07
							190.30	190.70	0.40	9.04
AUDD0151	706257	5711557	345	145	55	168					Awaiting Assay
AUDD0152	704504	5711072	338	160	63	765	466.05	467.00	0.95	1.89	Partial Assay
							483.20	488.10	4.90	7.50
						inc:	483.50	485.00	1.50	17.00
AUDD0153	706312	5711610	346	145	55	129					Awaiting Assay
AUDD0154	706361	5711673	348	145	55	135					Awaiting Assay

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Hole No.	Easting	Northing	Elevation	Azimuth	Dip	Drilled Length	From To Width Assay	From To Width Assay	From To Width Assay	From To Width Assay	Comment
						(m)	(m) (m) (m) g/t Au
AUDD0155	705710	5711350	358	200	55	249					Awaiting Assay
AUDD0156	705965	5711328	350	145	50	225	36.80	37.50	0.70	1.69	Partial Assay
AUDD0157	704999	5711407	337	180	76	672					Awaiting Assay
AUDD0159	705690	5711298	358	200	55	291					Awaiting Assay
AUDD0160	705602	5711341	356	200	55	274					Awaiting Assay
AUDD0161	704776	5710431	342	175	55	257					Awaiting Assay
AUDD0162	704694	5710407	342	175	55	222					Awaiting Assay
AUDD0163	705559	5711210	358	180	55	301					Awaiting Assay
AUDD0164	704485	5710851	340	160	57	585					Awaiting Assay
AUDD0165	704504	5711072	338	165	72	108					Awaiting Assay
AUDD0166	704489	5711151	338	161	66	847	836.40	839.65	3.25	8.03	Partial Assay
AUDD0166W1	704525	5711039	117	161	54	737	838.05	844.50	6.45	6.61	Partial Assay
						inc:	838.05	839.80	1.75	21.20
						inc:	839.20	839.80	0.60	58.60
AUDD0167	706648	5712082	345	320	50	144					Awaiting Assay
AUDD0168	705615	5711100	351	180	55	267					Awaiting Assay
AUDD0169	705146	5711502	338	180	78	621	587.20	587.55	0.35	2.27	Partial Assay
AUDD0170	706618	5712060	345	320	50	105					Awaiting Assay
AUDD0171	705613	5711235	359	180	60	509					Awaiting Assay
AUDD0172	706585	5712028	345	320	45	111					Awaiting Assay
AUDD0173	704549	5710828	340	160	62	600					Awaiting Assay
AUDD0174	706548	5711976	348	180	45	171					Awaiting Assay
AUDD0175	706477	5711848	348	160	45	87					Awaiting Assay
AUDD0176	705559	5711261	357	180	57	411	193.80	194.20	0.40	1.14	Partial Assay
AUDD0177	706205	5711651	347	180	60	282					Awaiting Assay
AUDD0178	704489	5711151	338	160	57	861	514.05	518.90	4.85	4.70	Partial Assay
						inc:	514.05	516.10	2.05	10.43
							590.60	592.00	1.40	1.06
AUDD0179	704586	5710883	340	160	62	606	431.95	432.90	0.95	14.10	Partial Assay
AUDD0180	706178	5711511	347	0	55	348					Awaiting Assay
AUDD0181	705755	5711177	351	30	55	510	416.40	417.20	0.80	2.56	Partial Assay
AUDD0182	705898	5711415	361	210	55	405					Awaiting Assay
AUDD0183	704857	5711397	341	180	56	636					Awaiting Assay
AUDD0184	704586	5710868	342	160	72	564	231.40	231.80	0.40	1.65	Partial Assay
							235.00	236.50	1.50	2.04
							455.00	455.50	0.50	88.70
AUDD0185	705899	5711414	360	140	55	312					Awaiting Assay
AUDD0186	705899	5711323	355	210	55	288	140.95	142.55	1.60	2.09	Partial Assay
AUDD0187	704604	5710821	342	160	55	429					Awaiting Assay
AUDD0188	705814	5711349	359	210	55	315	274.00	276.00	2.00	1.84	Partial Assay
							289.00	294.05	5.05	1.74
AUDD0189	704857	5711397	341	180	65	699					Awaiting Assay
AUDD0190	704645	5710713	342	160	55	305					Awaiting Assay

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Hole No.	Easting	Northing	Elevation	Azimuth	Dip	Drilled Length	From	To	Width	Assay	Comment
						(m)	(m)	(m)	(m)	g/t Au
AUDD0191	705866	5711371	358	210	65	249	35.00	37.00	2.00	1.37	Partial Assay
							59.00	60.00	1.00	1.90
PC-G-03-A	704265	5709860	343	28	83	48.00	31.75	35.00	3.25	15.94
						inc:	31.75	33.55	1.80	28.28
							42.35	42.90	0.55	1.86

APPENDIX B - JORC CODE, 2012 EDITION

Table 1 – JORC Code 2012 Edition

Section 1 Sampling Techniques and Data (Criteria in this section apply to all succeeding sections.)

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
Sampling techniques	•	Nature and quality of sampling (eg cut	•	Drilling since 2008, quoted with PC- prefix is from PC Gold
		channels, random chips, or specific		exploration with NQ diameter (47.6mm) drill core was recovered
		specialised industry standard measurement		from drilling. Noramco drilling, CP- prefix is BQ diameter (36.5mm).
		tools appropriate to the minerals under		All other quoted intercepts and the bulk of historical drilling data is
		investigation, such as down hole gamma		of NQ diameter including Auteco drilling subject to this release
		sondes, or handheld XRF instruments, etc).		(prefix AUDD**).
		These examples should not be taken as	•	The core was sawn in half following a sample cutting line
		limiting the broad meaning of sampling.		determined by geologists during logging and submitted for analysis
	•	Include reference to measures taken to		on nominal 1m (1ft for historical drillholes) intervals or defined by
		ensure sample representivity and the		geological boundaries determined by the logging geologist.
		appropriate calibration of any measurement	•	Samples from PC Gold holes (PC- prefix) post 2008 were submitted
		tools or systems used.		to ALS Chemex in Thunder Bay and North Vancouver for analysis.
	•	Aspects of the determination of		Samples were prepared for analysis using a jaw crusher which was
		mineralisation that are Material to the		cleaned with a silica abrasive between samples resulting in 90% of
		Public Report.		the sample passing through an 8 mesh screen. A split of the crushed
	•	In cases where ‘industry standard’ work has		sample weighing 1000g was then pulverised to 90% passing a 150
		been done this would be relatively simple		mesh screen. Sample pulps were analysed for gold by Fire Assay
		(eg ‘reverse circulation drilling was used to		using 50g sample charge with atomic absorption spectroscopy
		obtain 1 m samples from which 3 kg was		(AAS) finish. If the returned assay result was equal to or greater
		pulverised to produce a 30 g charge for fire		than 5g/t then the sample was reassayed by Fire Assay with a
		assay’). In other cases, more explanation		gravimetric finish. Samples from historical diamond drilling
		may be required, such as where there is		programs conducted between 1981 and 2008 were dispatched to a
		coarse gold that has inherent sampling		variety of accredited laboratories in Canada for Fire Assay analysis.
		problems. Unusual commodities or		Historical drill results prior to 1981are Fire Assay conducted by
		mineralisation types (eg submarine nodules)		unknown laboratories (most likely the mine laboratory during the
		may warrant disclosure of detailed		operational life of the Pickle Crow Mine) and with unknown
		information.		preparation methods and assay charge, however previous
				operators have duplicated and verified results. Recent sampling by
				Auteco minerals on drill holes subject to this release (prefix
				AUDD**) were submitted to AGAT Laboratories, Thunder Bay for
				analysis. Auteco samples undergo the same preparation and
				analysis techniques previously used for PC Gold.
			•	All samples >10g/t gold and samples collected from PC gold drilling
				(PC- prefix) suspected of nugget gold were additionally sent for pulp
				metallics analysis.
			•
Drilling techniques	•	Drill type (eg core, reverse circulation, open-	•	Drilling quoted with PC- prefix is from PC Gold exploration with NQ
		hole hammer, rotary air blast, auger,		diameter (47.6mm) drill core was recovered from drilling. Noramco
		Bangka, sonic, etc) and details (eg core		drilling, CP- prefix is BQ diameter (36.5mm). All other drilling is NQ
		diameter, triple or standard tube, depth of		diameter including Auteco drilling subject to this release (prefix
		diamond tails, face-sampling bit or other		AUDD**).
		type, whether core is oriented and if so, by
		what method,etc).
Drill sample recovery	•	Method of recording and assessing core and	•	All drilling quoted is NQ diamond core (including Auteco drilling
		chip sample recoveries and results assessed.		subject to this release -prefix AUDD**) with the exception of
				Noramco drillholes (CP- prefix). RQD was recorded for all diamond
				drillingasper industrystandard. A review of the available diamond

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Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
	•	Measures taken to maximise sample		drill core RQD’s from the Pickle Crow project (PC- prefix and
		recovery and ensure representative nature		recently completed Auteco drilling - AUDD* prefix) indicated that
		of the samples.		nearly all of the holes produced excellent recoveries with an
	•	Whether a relationship exists between		average of >90%. For drilling conducted by other operators
		sample recovery and grade and whether		recoveries are unknown although reports do not highlight
		sample bias may have occurred due to		significant core loss.
		preferential loss/gain of fine/coarse	•	A review of RQD results does not highlight a relationship between
		material.		sample recovery and grade or highlight any sample bias due to loss
				of material.
Logging	•	Whether core and chip samples have been	•	All PC Gold and Auteco samples (PC- and AUDD* hole prefix) were
		geologically and geotechnically logged to a		geologically logged. Lithology, veining, alteration, mineralisation
		level of detail to support appropriate		and weathering are all recorded in the geology table of the drill
		Mineral Resource estimation, mining studies		hole database. Other historical drillholes have been similarly logged
		and metallurgical studies.		and records have been digitized from report format.
	•	Whether logging is qualitative or	•	Geological logging of Diamond Core samples is qualitative and
		quantitative in nature. Core (or costean,		descriptive in nature.
		channel, etc) photography.	•	All holes quoted have been logged in their entirety.
	•	The total length and percentage of the
		relevant intersections logged.
Sub-sampling	•	If core, whether cut or sawn and whether	•	All drilling quoted from PC Gold and Auteco exploration (PC-and
techniques and sample		quarter, half or all core taken.		AUDD* hole prefix) is.NQ diameter (47.6mm) drill core recovered
preparation	•	If non-core, whether riffled, tube sampled,		from drilling. All other quoted intercepts are NQ diameter with the
		rotary split, etc and whether sampled wet or		exception of Noramco drilling (CP- Prefix) which is BQ (36.5mm)
		dry.		diameter. The core was sawn in half following a sample cutting line
	•	For all sample types, the nature, quality and		determined by geologists during logging and submitted for analysis
		appropriateness of the sample preparation		on nominal 1m (or 1ft) intervals or defined by geological
		technique.		boundaries determined by the logging geologist.
	•	Quality control procedures adopted for all	•	This sampling technique is industry standard and deemed
		sub-sampling stages to maximise		appropriate.
		representivity of samples.	•	PC Gold QA/QC protocols include the use of crush duplicates, ¼
	•	Measures taken to ensure that the sampling		core field duplicates, the insertion of certified reference materials
		is representative of the in-situ material		(CRM’s) including low, medium and high-grade standards and
		collected, including for instance results for		coarse blanks. This was accomplished by inserting the QA/QC
		field duplicate/second-half sampling.		samples sequentially in the drill core sample numbering system.
	•	Whether sample sizes are appropriate to the		One set of the four QA/QC types were inserted every 30 samples
		grain size of the material being sampled.		consisting of 1 crush duplicate, 1 ¼ split field duplicate, 1 CRM
				(altering between low, medium and high standard) and 1 blank.
				This resulted in approximately every seventh sample being a QA/QC
				sample. Auteco minerals (AUDD* prefix holes) follows the same
				QA/QC protocols but with CRM’s and duplicates inserted every 25
				samples. QAQC procedures are not disclosed in previous reporting
				but results are consistent with visual observations of mineralisation
				as recorded in the geological logs and qualitative proportions of
				logged veining and sulphide content. Post-Mining Pickle Crow
				Property operators employed the usual in-laboratory blanks,
				standards and duplicate analyses to ensure precision and accuracy
				of results. Whist there is no documentation available for earlier
				results sample duplicate verification has been conducted.
			•	Sample size is deemed industry standard for Orogenic Gold
				deposits.
Quality of assay data	•	The nature, quality and appropriateness of	•	Samples were submitted to ALS Chemex in Thunder Bay and North
and laboratory tests		the assaying and laboratory procedures used		Vancouver for analysis. Samples were prepared for analysis using a
		and whether the technique is considered		jaw crusher which was cleaned with a silica abrasive between
		partial or total.		samples resulting in 90% of the sample passing through an 8 mesh
	•	For geophysical tools, spectrometers,		screen. A split of the crushed sample weighing 1000g was then
		handheld XRF instruments, etc, the		pulverized to 90% passing a 150 mesh screen. Sample pulps were
		parameters used in determining the analysis		analysed for gold by Fire Assay using 50g sample charge with
		including instrument make and model,		atomic absorption spectroscopy (AAS) finish. If the returned assay
		reading times, calibrations factors applied		result was equal to or greater than 5g/t then the sample was
		and their derivation, etc.		reassayed by Fire Assay with a gravimetric finish. . Samples from
	•	Nature of quality control procedures		historical diamond drilling programs conducted between 1981 and
		adopted (eg standards, blanks, duplicates,		2008 were dispatched to a variety of accredited laboratories in
		external laboratory checks) and whether		Canada for Fire Assay analysis. Historical drill results prior to
		acceptable levels of accuracy (i.e. lack of		1981are Fire Assay conducted by unknown laboratories (most likely
		bias) and precision have been established.		the mine laboratory during the operational life of the Pickle Crow
				Mine) and with unknown preparation methods and assay charge,
				howeverprevious operators have duplicated and verified results.

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Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
				Recent sampling by Auteco minerals on drill holes subject to this
				release (prefix AUDD**) were submitted to AGAT Laboratories,
				Thunder Bay for analysis. Auteco samples undergo the same
				preparation and analysis techniques previously used for PC Gold.
			•	In addition to the Company QAQC samples (described earlier)
				included within the batch the laboratory included its own CRM’s
				(Certified Reference Materials), blanks and duplicates.
			•	Sample assay results continue to be evaluated through control
				charts, log sheets, sample logbook and signed assay certificates to
				determine the nature of any anomalies or failures and failures were
				re-assayed at the laboratory. Check assaying was also conducted on
				1 in every 20 samples. QAQC protocols are unknown for historical
				drill programs (without the PC- hole prefix).
			•	QA/QC work is industry standard and acceptable levels of accuracy
				and precision have been established.
Verification of sampling	•	The verification of significant intersections	•	Historical significant intersections quoted have been verified by
and assaying		by either independent or alternative		Independent Geological Consultants Micon International Limited.
		company personnel.		For more details see document ‘Updated Mineral Resource
	•	The use of twinned holes.		Estimate for the Pickle Crow Property, Patricia Mining Division,
	•	Documentation of primary data, data entry		Northwestern Ontario, Canada’ NI-43-101 dated 15 June 2018 and
		procedures, data verification, data storage		available from System for Electronic Document Analysis and
		(physical and electronic) protocols.		Retrieval (www.sedar.com) for First Mining Inc.
	•	Discuss any adjustment to assay data.	•	There are no twinned holes in the dataset but a comparison of the
				results of different drilling generations showed that results were
				comparable. In addition previous operators have duplicated and
				verified results by re-sampling historical core.
			•	For PC Gold drilling (PC- prefix), once all logging data was
				completed, core marked up, logging and sampling data was entered
				directly into the Gems Logger program (an MS Access-based
				database and stored on the onsite server. At approximately weekly
				intervals the server onsite was synchronised with the main server in
				Thunder bay. Only one individual was responsible for synchronising
				the field and office databases. Auteco records new drilling data in
				Excel spreadsheet format synchronized with the Auteco server in
				Perth, Australia.
			•	No adjustments were made to assay data but the procedure to
				determine which gold assay to enter into the database is as follows.
				If a pulp metallic assay was performed it was used. If a pulp metallic
				assay was not performed, then a gravimetric assay was used. If a
				gravimetric assay was not performed, then the AAS assay was used.
				If re-assays were preformed then the first analysis was used unless
				a QA/QC investigation proved that the first assay was suspect, in
				which case the second analysis was then used.
Location of data points	•	Accuracy and quality of surveys used to	•	Upon completion of PC Gold drillholes collars (PC Gold prefix) were
		locate drill holes (collar and down-hole		surveyed by third party contractors Delta Surveying and J.D.Barnes
		surveys), trenches, mine workings and other		of Thunder Bay to with +/- 1m using an SX Blue. For all other drilling
		locations used in Mineral Resource		hole collars were converted from local grids or digitised from
		estimation.		georeferenced maps. Where possible these historical surface
	•	Specification of the grid system used.		drillholes have been re-located, surveyed and verified in the field.
	•	Quality and adequacy of topographic		Drillhole locations are also recorded by the Ontario Ministry of
		control.		Northern Development and Mines in freely available GIS datasets.
				Auteco drilling (AUDD* prefix) has been surveyed with a hand-held
				GPS to an accuracy of less than 3m.
			•	A variety of down hole survey tools have been used on the
				property. All holes were surveyed at 50m intervals while drilling
				using an EZY Shot magnetic compass based tool supplied by the
				drillers. In conjunction with this, all holes were surveyed after
				completion with a non-magnetic down-hole instrument. A variety
				of tools were trialled including Maxibore tool provided by Reflex
				Instruments, a Devifelx tool operated by TECH Directional services
				and an SPT North Seeking Gyro. For Auteco drilling subject to this
				release down hole surveys have been conducted by a REFLEX North
				Seeking Gyro. For further historical details of survey reproducibility
				and tools used please refer to document ‘Updated Mineral
				Resource Estimate for the Pickle Crow Property, Patricia Mining
				Division, Northwestern Ontario, Canada’ NI-43-101 dated 15 June
				2018 and available from System for Electronic Document Analysis

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Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
				and Retrieval (www.sedar.com) for First Mining Inc. For all drilling
				not conducted by PC Gold (lacking the PC- prefix) surveys were
				conducted during drilling with hole orientation recorded by the
				geologist in the field. Downhole surveys of dip are recorded by
				azimuths away from the collar are generally lacking.
			•	All location data is in UTM grid (NAD83 Zone 15) except where
				noted.
			•	Topographic Control for PC Gold and Auteco drilling (PC- and
				AUDD* prefix) is from a DTM created generated from a LIDAR
				survey completed in 2008 and are to an accuracy of <1m and
				verified by drill collar surveys. For all other collar data elevation was
				estimated from contours provided from SRTM. Topographic control
				for underground drillhole collars has been digitised from level plans
				or converted from mine grids. All surface collars have now been
				projected to a DTM generated from a LIDAR survey completed in
				2008 and are to an accuracy of <1m.
Data spacing and	•	Data spacing for reporting of Exploration	•	Due to the nature of mineralisation the hole spacing is highly
distribution		Results.		variable and of a progressive exploration in nature.
	•	Whether the data spacing, and distribution	•	Data spacing is considered sufficient to establish geological and
		is sufficient to establish the degree of		grade continuities for mineral resource estimation at the Inferred
		geological and grade continuity appropriate		Category
		for the Mineral Resource and Ore Reserve	•	No sample compositing was applied.
		estimation procedure(s) and classifications
		applied.
	•	Whether sample compositing has been
		applied.
Orientation of data in	•	Whether the orientation of sampling	•	Drill hole orientations were designed to test perpendicular or sub-
relation to geological		achieves unbiased sampling of possible		perpendicular to the orientation of the intersected mineralisation.
structure		structures and the extent to which this is		Drilling was typically oriented perpendicular to the trend of
		known, considering the deposit type.		geophysical anomalism and the mapped strike and dip of observed
	•	If the relationship between the drilling		mineralisation on surface and elsewhere in the project area.
		orientation and the orientation of key	•	Due to the density of drilling and the orientation of drilling
		mineralised structures is considered to have		perpendicular to mineralised bodies there is limited bias introduced
		introduced a sampling bias, this should be		by drillhole orientation.
		assessed and reported if material.
Sample security	•	The measures taken to ensure sample	•	For PC Gold and Auteco drilling (PC- and AUDD* prefix), once the
		security.		core samples are cut, bagged and sealed with zip ties, ten samples
				are put into rice bags which are sealed and secured with numbered
				security tags. Once samples arrive at the laboratory the security
				tags and corresponding samples were verified against onsite logs.
				Prior to shipment samples are stored in a locked building onsite.
				Site is always occupied, and no samples are left at the project
				during field breaks. For all other drillholes the measures taken to
				ensure sample security are unknown.
Audits or reviews	•	The results of any audits or reviews of	•	An audit and review of sampling techniques and data was
		sampling techniques and data.		conducted as part of NI-43-101 resource estimation by
				Independent Consultants Micon International in 2018. Please refer
				to document ‘Updated Mineral Resource Estimate for the Pickle
				Crow Property, Patricia Mining Division, Northwestern Ontario,
				Canada’ NI-43-101 dated 15 June 2018 and available from System
				for Electronic Document Analysis and Retrieval (www.sedar.com)
				for First Mining Inc.

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Section 2 Reporting of Exploration Results (Criteria listed in the preceding section also apply to this section)

Criteria	JORC Code explanation	Commentary
Mineral tenement and	• Type, reference name/number, location and	• The mineral concessions of the Pickle Crow project consist of
land tenure status	ownership including agreements or material	106 patented mining claims covering 1,712ha and 88
	issues with third parties such as joint ventures,	contiguous, unpatented claims covering approximately
	partnerships, overriding royalties, native title	14,048ha. Of the 106 patented claims 98 (the Pickle Crow
	interests, historical sites, wilderness or national	Lease) are held in the name of Teck Cominco Limited (Teck)
	park and environmental settings.	and 8 are held in the name of PC Gold. The unpatented
	• The security of the tenure held at the time of	claims are held in the name of PC gold. PC Gold has a lease
	reporting along with any known impediments to	on the 98 patented claims held by Teck which expires in
	obtaining a license to operate in the area.	2067. These leasehold claims are subject to two net smelter
		return (NSR) royalties totalling 1.25%. The other 8 patented
		claims (the Crowshore Patents), plus certain unpatented
		claims are subject to NSR royalties ranging from 2% to 3%. A
		full list of tenements along with details of relevant NSR’s as
		they pertain to individual properties is given in Auteco ASX
		releases dated: 28/01/2020 and 17/02/2020. An additional
		600 claims were staked by Auteco subsidiary, Revel Resource
		(JV) Ltd. and are subject to the terms of the Earn-In-
		Arrangement.
		• Auteco has entered into an agreement to acquire up to 80%
		of the Pickle Crow Gold Project from First Mining, and as of
		31 May 2021 has completed stage 1 Earn-in obligations
		under the agreement. AS the result of completing the Stage
		1 Earn-in obligations, Auteco has a 51% equity interest in the
		Pickle Crow Gold Project.
		Stage 2 Earn-In: Auteco can earn a further 19% interest in the
		project by: Expending exploration expenditure in the 24-
		month period commencing on the date that Auteco satisfies
		the Stage 1 Earn-in of C$5,000,000 ('Expenditure Payment
		3'); and Within 90 days of completing expenditure Payment
		3, making a cash payment to Seller in the amount of
		C$1,000,000 ('Expenditure Payment 4'), (together the 'Stage
		2 Earn In'). Also, Buy In: May buy a further 10% interest by
		paying C$3,000,000 to First Mining; and a 2% Net Smelter
		Return granted after the Stage 2 Earn-In. Further details are
		included in ASX releases (17/02/2020, 13/03/20 and
		18/3/21).
		• For a more complete discussion of type, reference
		name/number, location and ownership including agreements
		or material issues with third parties such as joint ventures,
		partnerships, overriding royalties, native title interests,
		historical sites, wilderness or national park and
		environmental settings relating to the Pickle Crow Project
		please refer to document ‘Updated Mineral Resource
		Estimate for the Pickle Crow Property, Patricia Mining
		Division, Northwestern Ontario, Canada’ NI-43-101 dated 15
		June 2018 and available from System for Electronic
		Document Analysis and Retrieval (www.sedar.com) for First
		MiningInc.
Exploration done by	• Acknowledgment and appraisal of exploration by	• The first government survey of the area was performed by
other parties	other parties.	William McInnes of the Geological Survey of Canada (GSC)
		along the Crow River from 1903 to 1905. Prospecting in the
		Pickle Lake area commenced in 1926. In 1927, Lois Cohen of
		Haileybury formed a prospecting group and early that winter
		sent Alex and Murdock Mosher in to stake the first claims
		(December 1927) on what ultimately became the Central
		Patricia Gold Mines property. These claims were optioned by
		F.M Connell and Associates in August 1928 and Central
		Patricia Gold Mines Limited was incorporated on 19
		February, 1929. Diamond drilling commenced at Central
		Patricia in February 1929 and production in March 1930. The
		Central Patricia discovery paved the wayfrom exploration in

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Criteria	JORC Code explanation	Commentary
		the region which led to the discovery and initial drilling
		(1929) of the first Pickle Crow orebody the No.1 Vein by
		Northern Aerial Mineral Exploration Limited, a company set
		up in 1928 by J.E. (Jack) Hammell. In 1929 gold was also
		discovered by Albany River Miners Ltd. (Albany River) at the
		No.16 vein on the Albany River claims to the east of the then
		Pickle Crow property. Northern Aerial was acquired by Pickle
		Crow Gold Mines Limited (PCGM) in 1934 with Jack Hammell
		continuing as president. Production from the Pickle Crow
		mine began on 17 April, 1935. Albany river sank the Albany
		shaft to a depth of 190m between 1933 and 1938 and
		completed extensive underground development. Winoga
		Patricia Gold Mines was created in 1936 and drilled 73
		surface diamond drill holes on a pie-shaped property located
		between PCGM’s holdings and the Albany River Mines
		ground to the east. A mine shaft was subsequently sunk on
		the property in 1938. That same year, PCGM took over
		ownership of both Albany River Mines and Winoga Patricia
		Gold Mines through a new company called Albany River Gold
		Mines Ltd. It is believed that the Winoga Patricia Gold Mines
		shaft later became the No.3 Shaft of the Pickle Crow
		operation. The Cohen- MacArthur zone, located 2km to the
		north of the developing Pickle Crow mine, was discovered in
		1933. A total of 14 surface diamond holes were drilled at
		Cohen-MacArthur in the winter of 1936. This property was
		optioned by PCGM in 1938, With the acquisition of the
		Cohen-MacArthur claims, PCGM became one of the largest
		land holders in the Pickle Lake area. The GSC completed a
		regional synthesis of the Pickle Crow Greenstone belt during
		this period as well. Ground and airborne geophysical surveys
		have been completed over all or parts of the Pickle Crow
		property at various times during its early history. A dip-
		needle survey completed in 1936 on the Pickle Crow
		property was useful in tracing out the bands of the iron
		formation. A detailed magnetic survey was carried out over
		the property by Teck (or its predecessor companies) around
		1960. The property then underwent a series of ownerships
		until it became wholly owned by Teck in 1971. The property
		then sat dormant until 1973 when Pickle Crow Exploration
		Ltd. Reviewed the economics of reopening the mine. In 1978,
		a merger between Pickle Crow Explorations Ltd. And four
		other companies saw Teck’s ownership reduced to 44.6%
		and a new exploration company called Highland-Crow
		Resources Ltd. Highland Crow went on to option the
		property to Galant Gold Mines Limited in 1979. Gallant
		performed a VLF_EM geophysical survey and drilled 47
		surface diamond drill holes for 7,356m. The only known soil
		geochemical survey done on the Pickle Crow property was
		completed for Gallant in 1983. Soil values ranged from 10 to
		12,000ppb with the high values attributed to mine tailings
		and cultural anomalies. In 1983 the property returned to
		Highland-Crow. Noramco Mining Corp. bought Highland-
		Crow in 1988. Between 1985 and 1987 Highland-Crow
		completed line-cutting, magnetometer and IP, geophysical
		surveying, geological mapping, surface trenching, diamond
		drilling and environmental baseline studies. Noramco drilled
		surface exploration holes, completed geophysical surveys
		and commenced dewatering of the No.1 shaft. Noramco
		drilled 286 surface diamond drill holes for 46,189m and 79
		underground holes for 9,341m. Noramco also commissioned
		Historic (non-compliant) Resource Estimates. In 1994
		Noramco changed its name to Quest Capital. Quest assigned
		its interest to Pickle Crow Resources Inc. A total of 4 surface
		diamond drill holes for 2,287m were completed. Quest then

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Criteria	JORC Code explanation	Commentary
		sold its interest to Wolfden Resource Inc who entered into an
		option agreement with Jonpol Explorations Ltd. Who drilled
		18 surface diamond holes for 2,173.5m. Wolfden also
		entered into a surface mining agreement with Cantera
		Mining Limited in 2000. Canterra commenced building a
		225tpd gravity mill on site in 2002 but was placed into
		receivership in 2004. In 2006 Wolfden transferred Pickle
		Crow to Premier Gold Mines Ltd. Before the property was
		sold to PC Gold in 2007. PC Gold then explored the property
		completing 184 holes for 62,968m by 2011 and 173 holes for
		35,840.4m from 2011 to 2014 before commissioning an NI-
		43-101 compliant Resource Estimate.
Geology	• Deposit type, geological setting and style of	• The Pickle Crow Gold Deposit is considered to be an Archean
	mineralisation.	low-sulphide gold-quartz vein type deposit, also known as
		shear-hosted gold, Archean quartz-carbonate vein gold
		deposits, Archean lode gold, Archean mesothermal gold
		deposits or simply orogenic gold. The deposit occurs
		primarily within mafic volcanics and banded iron formation
		(BIF) units in the Pickle Crow assemblage of the Pickle Lake
		Greenstone belt in the Uchi Lake Sub province of the
		Superior Craton of the Canadian Shield.
Drill hole Information	• A summary of all information material to the	• With regards to the drilling supporting the Resource, please
	understanding of the exploration results	refer to Appendix A in the ASX releases as indicated in this
	including a tabulation of the following	release.
	information for all Material drill holes:	• With regards to new drilling and in accordance with ASX
	o easting and northing of the drill hole collar	listing rule 5.7.2, please refer to Appendix A in this release.
	o elevation or RL (Reduced Level – elevation	The new drilling has not been included in the current
	above sea level in meters) of the drill hole	Resource estimate.
	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 clearlyexplain whythis is the case.
Data aggregation	• In reporting Exploration Results, weighting	• All drill hole intersections are reported above a lower cut-off
methods	averaging techniques, maximum and/or	grade of 0.5g/t Gold or 1g/t as indicated, with no upper cut
	minimum grade truncations (eg cutting of high	off grade has been applied. A maximum of 1m internal waste
	grades) and cut-off grades are usually Material	was allowed. Tabulated results are presented in previous ASX
	and should be stated.	announcements as indicated in the body of this release and
	• Where aggregate intercepts incorporate short	in Appendix A of this release)
	lengths of high-grade results and longer lengths
	of low-grade results, the procedure used for such	• Metal equivalent values are not used
	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 clearlystated.
Relationship between	• These relationships are particularly important in	• All intersections reported in the body of this release are
mineralisation widths	the reporting of Exploration Results.	down hole
and intercept lengths	• If the geometry of the mineralisation with	• The majority of the drill holes are drilled as close to
	respect to the drill hole angle is known, its nature	orthogonal to the plane of the mineralised lodes as possible.
	should be reported.	A number of drill holes have intersected the mineralisation at
	• If it is not known and only the down hole lengths	high angles.
	are reported, there should be a clear statement	• Only down hole lengths are reported.
	to this effect (eg ‘down hole length, true width
	not known’).
Diagrams	• Appropriate maps and sections (with scales) and	• Maps and sections are included in the body of this release as
	tabulations of intercepts should be included for	deemed appropriate by the competent person.
	any significant discovery being reported These	• See images below for 3D location of AUT and historic
	should include, but not be limited to a plan view	drillholes.

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Criteria	JORC Code explanation	Commentary
	of drill hole collar locations and appropriate
	sectional views.
Balanced reporting	• Where comprehensive reporting of all	• Any significant higher-grade zones in historical drilling
	Exploration Results is not practicable,	quoted in this release have been reported in previous ASX
	representative reporting of both low and high	announcements as highlighted in the body of this release as
	grades and/or widths should be practiced to	well as Appendix A of this release)
	avoid misleading reporting of Exploration Results.	• All results above 0.5g/t lower cut-off or 1g/t quoted in this
		release have been reported in previous ASX announcements
		as indicated in the body of this release as well as Appendix A
		of this release)
Other substantive	• Other exploration data, if meaningful and	• Appropriate plans are included in the body of this release.
exploration data	material, should be reported including (but not
	limited to): geological observations; geophysical
	survey results; geochemical survey results; bulk
	samples – size and method of treatment;
	metallurgical test results; bulk density,
	groundwater, geotechnical and rock
	characteristics; potential deleterious or
	contaminatingsubstances.
Further work	• The nature and scale of planned further work	• Auteco Minerals Limited is currently conducting drill testing
	(e.g. tests for lateral extensions or depth	of additional lodes as well as step out and infill drilling of
	extensions or large-scale step-out drilling).	existing lodes to further enhance the resources quoted in
	• Diagrams clearly highlighting the areas of	this release. More information is presented in the body of
	possible extensions, including the main	this report.
	geological interpretations and future drilling	• Diagrams in the main body of this release show areas of
	areas, provided this information is not	possible resource extension on existing lodes. The company
	commercially sensitive.	continues to identify and assess multiple other target areas
		within thepropertyboundaryfor additional resources.

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Isometric Image showing all drill holes and the mid-year 2021 Resource block model

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