FireFly Metals Ltd. — Capital/Financing Update 2022

Jun 22, 2022

ASX: AUT 23 June 2022

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ASX ANNOUNCEMENT

Pickle Crow Gold Project, Canada

AuTECO makes significant regional discovery with hit of 5.5m at 18g/t

Outstanding result highlights potential for rapid, substantial inventory growth away from existing 2.23Moz Resource; Numerous regional targets to be drilled in coming months

KEY POINTS

• Drilling at the Pickle Crow Project in Ontario, Canada, demonstrates the immense upside from early-stage exploration away from the high-grade 2.23Moz at 7.8 g/t Inferred Resource

• The drilling results support AuTECO’s dual strategy of growing the Resource in parallel with testing highly promising regional targets with the potential to generate substantial, rapid increases in the inventory

• “This exceptional result shows how our strategy to drill numerous similar regional targets over coming months stands to take Pickle Crow to the next level.” – AuTECO Executive Chairman Ray Shorrocks

NEW DISCOVERY - TALIA

• Drilling has confirmed the discovery of a previously undrilled mineralised Banded Iron Formation (BIF) at the Talia Prospect

• Discovery drill hole of 5.5m @ 18.0 g/t gold from 44.9m downhole RVDD0038 (BIF-Hosted)

• • Located 1km from the current defined Resource area

• Mineralisation is shallow and open in all directions; Further results are pending

MULTIPLE HIGH PRIORITY REGIONAL PROSPECTS – DRILL TESTING CONTINUES

• Multiple regional targets being drilled in coming months as part of 50,000m program

• All target areas located within 20km of the historic Pickle Crow mine centre where 1.5Moz at 16.1g/t was mined historically and the current 2.2Moz at 7.8 g/t gold is located.

• Regional targets are either conceptual in nature and being drilled for the first time or are targets that have had limited historic drilling a long time ago

• Regional drill campaign’s early success with recent and previously released results of:

• 5.4m @ 2.6 g/t gold from 94.4m RVDD0017 (this release)

• 2.8m @ 4.3 g/t gold from 60m RVDD0026 (this release)

• 0.9m @ 14.7 g/t gold from 262.6m RVDD0051 (this release)

• 4.1m @ 3.4 g/t gold from 226.3m RVDD0059 (this release)

• 2.1m @ 92.0 g/t gold from 147.8m RVDD0016 (refer ASX 3/5/22)

• 0.7m @ 26.2 g/t gold from 116.5m RVDD0016 (refer ASX 3/5/22)

• 3.5m @ 7.6 g/t gold from 126.9m RVDD0022 (refer ASX 3/5/22)

• AuTECO is well funded for its exploration programs, with A$24.5M in cash at 31/3/22

ASX: AUT

Ray Shorrocks - Executive Chairman Michael Naylor - Non-Executive Director & Joint Company Secretary Stephen Parsons - Non-Executive Director Darren Cooke - Chief Executive Officer William Nguyen - CFO & Joint Company Secretary

ASX: AUT ACN: 110 336 733 Principal and Registered Office: T: +61 8 9220 9030 Ground Floor E: info@autecominerals.com 24 Outram Street W: www.autecominerals.com West Perth WA 6005

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AuTECO Minerals Ltd (AUT:ASX) is pleased to report more exceptional early-stage exploration results which demonstrate the outstanding growth potential at the Pickle Crow gold project in Ontario, Canada.

The results are considered particularly important because they demonstrate the scope to increase the resource based on new regional discoveries as well as ongoing near-mine exploration.

A 50,000-metre drill campaign is in progress and anticipated to conclude in early 2023. AuTECO intends to continue the dual focus on both in-mine Resource expansion at Pickle Crow and regional discovery that will provide the next generation of Resource growth for the company.

AuTECO Executive Chairman Ray Shorrocks said:

“This exceptional result shows how our strategy to drill numerous similar regional targets over coming months stands to take Pickle Crow to the next level.

“We are now starting to uncover what we see as a significant mineral district, which will grow much further than the currently defined 2.2Moz Pickle Crow gold deposit.

“AuTECO is fully funded to continue the exploration and growth campaign and we expect to complete another 50,000 metres of drilling by the early 2023”.

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Map showing AuTECO tenure with recent and historical drilling intersections relative to the current Resource and the historic Pickle Crow mine. Please refer to ASX release dated 26 March 2020 for further details on historical intersections. Details of recent AuTECO intersections presented in this map can be found in the ASX release dated 3 May 2022 and within this release.

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Detail of Latest Results:

This release contains the latest results from the early-stage exploration targets drill tested outside of the historic Pickle Crow mine and the current 2.23Moz at 7.8 g/t gold Resource (see ASX announcement dated 15 February 2022 for details). These results are supplemental to the exploration drill update provided on 3 May 2022.

AuTECO manages ~500km[2] of tenure in the Pickle Lake district. During 2022 to date, first pass early-stage drilling testing has been conducted at six regional exploration targets located away from the current Resource. All six targets returned results with anomalous mineralisation.

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Map showing key target areas and results from the 2022 exploration campaign to date relative to the Resource as at 31 December 2021 and historical underground development. All reported results are outside of the current Resource. The distance to the AuTECO processing plant is denoted by the green radius line. Please note that a patented lease is a mining lease in which the Crown (government) grants all mineral rights to the leaseholder.

Recent intersections highlight the potential of the Talia discovery and confirmed the prospectivity of the Banded Iron Formation (BIF) style mineralisation in the Pickle Lake district.

The area was targeted based on structural intersections within BIF identified using high-resolution drone magnetics acquired in 2021.

A shallow intersection of 5.5m @ 18.0 g/t gold was returned from just 45 metres down hole. This follows on from previously reported broad intersections of 4.9m @ 3.6 g/t gold and 4.0m @ 3.1 g/t gold.

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Further results for the Cohen-MacArthur prospect have now been received. Four of the five holes drilled contained significant gold intersections. Key results reported from this campaign include 2.1m @ 92.0 g/t, 0.7m @ 26.2 g/t, 0.8m @ 11.3 g/t, 5.4m @ 2.6 g/t and 1.2m @ 4.1 g/t gold. The Cohen MacArthur shear zone is a structure subparallel to the Core Mine Shear that controls mineralisation at the Pickle Crow deposit, where 1.5Moz of gold was extracted between 1935 and 1966.

Shallow high-grade mineralisation was intersected at the Swamp Zone prospect, a poorly tested hypothesised structure between the Springer and Central Patricia deposits. In May 2022 the initial intersection of 3.5m @ 7.6 g/t gold was reported from 126.9m. Recent results include 0.4m @ 31.0 g/t gold from 28.8m downhole and 2.8m @ 4.3 g/t gold from 59.7m down hole.

Other significant results include intersections of 0.9m @ 14.7 g/t and 4.1m @ 3.4 g/t gold at the Springer Shaft prospect.

Further drilling results are anticipated in the June quarter.

FORWARD WORK PLAN

The company intends to continue with a dual-tracked approach to drilling for the remainder of 2022, with a combination of extensional in-mine Resource growth drilling and regional exploration. AuTECO has commenced a further 50,000m drill campaign, of which ~20,000m is planned for early stage targets outside of the current 2.23Moz Resource.

Detailed analysis and interpretation of regional exploration results is in progress. As the temperature increases, regional work has commenced on summer field activities (mapping and sampling) in addition to a lease wide magnetic geophysical survey that will commence in June 2022.

For and on behalf of the Board.

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Mr Ray Shorrocks Executive Chairman Auteco Minerals Ltd Phone: +61 8 9220 9030

Media: Paul Armstrong Read Corporate +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 subprovince of Ontario, Canada.

The Pickle Crow Gold Project currently hosts a JORC 2012 Mineral Resource of 2.23 Moz at 7.8g/t gold, with a 50,000m drilling program underway to expedite growth.

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

The Company also has the Limestone Well Vanadium-Titanium Project in Western Australia.

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

COMPETENT PERSONS 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, 29/06/2020, 01/09/2020, 11/11/2020, 19/01/2021, 7/04/2021, 16/06/2021, 15/07/2021, 2/8/2021, 5/10/2021, 2/12/2021, 18/1/2022, 15/2/2022 and 3/5/2022. 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 is based on and fairly represents information and supporting information compiled by Mr Darren Cooke, who is a Member of the Australasian Institute of Geoscientists. Mr Cooke 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 Cooke 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.

NOTE

The Company’s Mineral Resource estimate referred to in this announcement was first reported in accordance with ASX Listing Rule 5.8 in the Company’s announcement on 15 February 2022, "Resource increases by 500,000oz to 2.23Moz at 7.8 g/t ". Auteco confirms that it is not aware of any new information or data that materially affects the information included in the original announcement and that all material assumptions and technical parameters underpinning the estimates in the original announcement continue to apply and have not materially changed. 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 announcement.

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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.

APPENDIX A: DRILLING RESULTS

TABLE 1: Significant Intercept Table – Auteco Drilling

Cut-off grade of 0.5g/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 (m)	From (m)	To (m)	Width (m)	Assay (g/t Au)	Comment
RVDD0017	703,906	5,711,525	342	180	50	108	58.50	60.00	1.50	1.61
							94.40	99.75	5.35	2.61
RVDD0019	704,018	5,711,480	342	180	51	171	76.80	77.70	0.90	1.73
RVDD0021	702,208	5,708,910	355	180	45	108	37.00	37.50	0.50	1.10
RVDD0022	702,265	5,708,920	350	180	45	228	28.80	29.20	0.40	31.00
RVDD0024	702,326	5,708,926	355	181	45	297	12.00	13.50	1.50	2.10
							20.20	21.00	0.80	2.57
							66.30	66.70	0.40	2.56
							261.55	262.15	0.60	1.13
RVDD0025	702,315	5,708,693	354	220	50	288		No sig assays
RVDD0026	702,419	5,708,850	355	190	50	228	59.75	62.50	2.75	4.27
RVDD0027	701,029	5,708,701	352	140	45	288		No sig assays
RVDD0028	702,504	5,708,921	356	190	50	246	31.40	32.00	0.60	4.41	Partial Assay
							134.90	135.30	0.40	1.19
RVDD0029	702,209	5,708,910	355	180	45	210		No sig assays
RVDD0030	703,278	5,708,561	354	180	55	210		No sig assays
RVDD0031	702,614	5,708,837	356	190	50	151		No sig assays
RVDD0032	703,302	5,708,627	353	180	55	147	33.85	34.45	0.60	2.87
RVDD0033	702,672	5,708,830	357	189	50	153		No sig assays
RVDD0034	703,154	5,708,316	357	180	55	180		No sig assays			Partial Assay
RVDD0035	702,655	5,708,890	357	190	50	176	14.55	15.00	0.45	1.33
RVDD0036	703,366	5,708,300	362	160	60	201		No sig assays			Partial Assay
RVDD0037	703,350	5,709,230	343	150	50	189		No sig assays			Partial Assay
RVDD0038	703,270	5,709,222	354	150	50	195	44.95	50.40	5.45	17.99
						inc.	49.00	49.60	0.60	47.50

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Hole No.	Easting	Northing	Elevation	Azimuth	Dip	Drilled Length (m)	From (m)	To (m)	Width (m)	Assay (g/t Au)	Comment
RVDD0039	703,197	5,709,147	355	150	50	180	Awaiting Assay
RVDD0040	703,114	5,709,129	363	150	50	147	Awaiting Assay
RVDD0041	703,107	5,709,125	364	150	55	236	132.85	133.45	0.60	1.67	Partial Assay
RVDD0042	703,356	5,709,311	349	190	55	231	Awaiting Assay
RVDD0043	703,349	5,709,523	347	190	45	255	160.50	164.45	3.95	3.08	Partial Assay
RVDD0044	703,418	5,709,479	350	190	-56	309	Awaiting Assay
RVDD0045	699,415	5,707,478	350	150	-45	150	Awaiting Assay
RVDD0046	703,418	5,709,479	350	140	-50	357	Awaiting Assay
RVDD0047	699,700	5,707,506	350	195	-45	174	Awaiting Assay
RVDD0048	700,080	5,707,470	350	205	-45	150	Awaiting Assay
RVDD0050	698,488	5,707,578	350	200	-45	156	Awaiting Assay
RVDD0051	703,247	5,708,486	354	180	-55	279	211.00	211.40	0.40	2.22	Partial Assay
							212.95	213.45	0.50	1.48
							262.60	263.50	0.90	14.71
						inc:	262.60	263.00	0.40	30.20
RVDD0052	698,110	5,708,075	351	145	-50	207	Awaiting Assay
RVDD0053	698,110	5,708,075	351	205	-50	150	79.80	80.35	0.55	1.34	Partial Assay
RVDD0054	697,998	5,708,030	351	145	-50	264	Awaiting Assay
RVDD0055	703,077	5,708,328	355	180	-55	297	Awaiting Assay
RVDD0056	697,998	5,708,030	351	205	-50	156	Awaiting Assay
RVDD0057	703,272	5,708,366	355	180	-55	231	Awaiting Assay
RVDD0058	697,902	5,707,963	351	145	-50	267	Awaiting Assay
RVDD0059	703,337	5,708,474	350	180	-55	285	226.30	230.35	4.05	3.44	Partial Assay
						inc:	229.95	230.35	0.40	21.00
RVDD0060	697,902	5,707,963	351	195	-52	228	Awaiting Assay
RVDD0061	697,902	5,707,963	351	325	-50	162	Awaiting Assay

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
		channels, random chips, or specific		Gold exploration with NQ diameter (47.6mm) drill
		specialised industry standard measurement		core was recovered from drilling. Noramco drilling,
		tools appropriate to the minerals under		CP- prefix is BQ diameter (36.5mm). All other quoted
		investigation, such as down hole gamma		intercepts and the bulk of historical drilling data is of
		sondes, or handheld XRF instruments, etc).		NQ diameter including Auteco drilling subject to this
		These examples should not be taken as		release (prefix AUDD**).
		limiting the broad meaning of sampling.	•	The core was sawn in half following a sample cutting
	•	Include reference to measures taken to		line determined by geologists during logging and
		ensure sample representivity and the		submitted for analysis on nominal 1m (1ft for
		appropriate calibration of any measurement		historical drillholes) intervals or defined by geological
		tools or systems used.		boundaries determined bythe logging geologist.

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Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
	•	Aspects of the determination of	•	Samples from PC Gold holes (PC- prefix) post 2008
		mineralisation that are Material to the Public		were submitted to ALS Chemex in Thunder Bay and
		Report.		North Vancouver for analysis. Samples were
	•	In cases where ‘industry standard’ work has		prepared for analysis using a jaw crusher which was
		been done this would be relatively simple		cleaned with a silica abrasive between samples
		(eg ‘reverse circulation drilling was used to		resulting in 90% of the sample passing through an 8
		obtain 1m samples from which 3 kg was		mesh screen. A split of the crushed sample weighing
		pulverised to produce a 30 g charge for fire		1000g was then pulverised to 90% passing a 150
		assay’). In other cases, more explanation		mesh screen. Sample pulps were analysed for gold
		may be required, such as where there is		by Fire Assay using 50g sample charge with atomic
		coarse gold that has inherent sampling		absorption spectroscopy (AAS) finish. If the returned
		problems. Unusual commodities or		assay result was equal to or greater than 5g/t then
		mineralisation types (eg submarine		the sample was reassayed by Fire Assay with a
		nodules) may warrant disclosure of detailed		gravimetric finish. Samples from historical diamond
		information.		drilling programs conducted between 1981 and 2008
				were dispatched to a variety of accredited
				laboratories in Canada for Fire Assay analysis.
				Historical drill results prior to 1981are Fire Assay
				conducted by unknown laboratories (most likely the
				mine laboratory during the operational life of the
				Pickle Crow Mine) and with unknown 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.
			•	For a more complete discussion of historical
				sampling techniques see 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.
Drilling techniques	•	Drill type (eg core, reverse circulation,	•	Drilling quoted with PC- prefix is from PC Gold
		open-hole hammer, rotary air blast, auger,		exploration with NQ diameter (47.6mm) drill core
		Bangka, sonic, etc) and details (eg core		was recovered from drilling. Noramco drilling, CP-
		diameter, triple or standard tube, depth of		prefix is BQ diameter (36.5mm). All other drilling is
		diamond tails, face-sampling bit or other		NQ diameter including Auteco drilling subject to this
		type, whether core is oriented and if so, by		release (prefix AUDD**).
		what method, etc).
Drill sample recovery	•	Method of recording and assessing core	•	All drilling quoted is NQ diamond core (including
		and chip sample recoveries and results		Auteco drilling subject to this release -prefix
		assessed.		AUDD**) with the exception of Noramco drillholes
	•	Measures taken to maximise sample		(CP- prefix). RQD was recorded for all diamond
		recovery and ensure representative nature		drilling as per industry standard. A review of the
		of the samples.		available diamond drill core RQD’s from the Pickle
	•	Whether a relationship exists between		Crow project (PC- prefix and recently completed
		sample recovery and grade and whether		Auteco drilling - AUDD* prefix) indicated that nearly
		sample bias may have occurred due to		all of the holes produced excellent recoveries with an
		preferential loss/gain of fine/coarse		average of >90%. For drilling conducted by other
		material.		operators recoveries are unknown although reports
				do not highlight significant core loss.

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Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
			•	A review of RQD results does not highlight a
				relationship between sample recovery and grade or
				highlight anysample bias due to loss of material.
Logging	•	Whether core and chip samples have been	•	All PC Gold and Auteco samples (PC- and AUDD*
		geologically and geotechnically logged to a		hole prefix) were geologically logged. Lithology,
		level of detail to support appropriate		veining, alteration, mineralisation and weathering are
		Mineral Resource estimation, mining		all recorded in the geology table of the drill hole
		studies and metallurgical studies.		database. Other historical drillholes have been
	•	Whether logging is qualitative or		similarly logged and records have been digitised
		quantitative in nature. Core (or costean,		from report format.
		channel, etc) photography.	•	Geological logging of Diamond Core samples is
	•	The total length and percentage of the		qualitative and descriptive in nature.
		relevant intersections logged.	•	All holes quoted have been logged in their entirety.
Sub-sampling	•	If core, whether cut or sawn and whether	•	All drilling quoted from PC Gold and Auteco
techniques and		quarter, half or all core taken.		exploration (PC-and AUDD* hole prefix) is.NQ
sample preparation	•	If non-core, whether riffled, tube sampled,		diameter (47.6mm) drill core recovered from drilling.
		rotary split, etc and whether sampled wet or		All other quoted intercepts are NQ diameter with the
		dry.		exception of Noramco drilling (CP- Prefix) which is
	•	For all sample types, the nature, quality and		BQ (36.5mm) diameter. The core was sawn in half
		appropriateness of the sample preparation		following a sample cutting line determined by
		technique.		geologists during logging and submitted for analysis
	•	Quality control procedures adopted for all		on nominal 1m (or 1ft) intervals or defined by
		sub-sampling stages to maximise		geological boundaries determined by the logging
		representivity of samples.		geologist.
	•	Measures taken to ensure that the sampling	•	This sampling technique is industry standard and
		is representative of the in-situ material		deemed appropriate.
		collected, including for instance results for	•	PC Gold QA/QC protocols include the use of crush
		field duplicate/second-half sampling.		duplicates, ¼ core field duplicates, the insertion of
	•	Whether sample sizes are appropriate to		certified reference materials (CRM’s) including low,
		the grain size of the material being		medium and high-grade standards and coarse
		sampled.		blanks. This was accomplished by inserting the
				QA/QC samples sequentially in the drill core sample
				numbering system. One set of the four QA/QC types
				were inserted every 30 samples 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.
			•	For a more complete discussion of historical
				sampling techniques and sample preparation see
				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.

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Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
Quality of assay data	•	The nature, quality and appropriateness of	•	Samples were submitted to ALS Chemex in Thunder
and laboratory tests		the assaying and laboratory procedures		Bay and North Vancouver for analysis. Samples were
		used and whether the technique is		prepared for analysis using a jaw crusher which was
		considered partial or total.		cleaned with a silica abrasive between samples
	•	For geophysical tools, spectrometers,		resulting in 90% of the sample passing through an 8
		handheld XRF instruments, etc, the		mesh screen. A split of the crushed sample weighing
		parameters used in determining the		1000g was then pulverised to 90% passing a 150
		analysis including instrument make and		mesh screen. Sample pulps were analysed for gold
		model, reading times, calibrations factors		by Fire Assay using 50g sample charge with atomic
		applied and their derivation, etc.		absorption spectroscopy (AAS) finish. If the returned
	•	Nature of quality control procedures		assay result was equal to or greater than 5g/t then
		adopted (eg standards, blanks, duplicates,		the sample was reassayed by Fire Assay with a
		external laboratory checks) and whether		gravimetric finish. . Samples from historical diamond
		acceptable levels of accuracy (i.e. lack of		drilling programs conducted between 1981 and 2008
		bias) and precision have been established.		were dispatched to a variety of accredited
				laboratories in Canada for Fire Assay analysis.
				Historical drill results prior to 1981are Fire Assay
				conducted by unknown laboratories (most likely the
				mine laboratory during the operational life of the
				Pickle Crow Mine) and with unknown 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.
			•	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.
			•	For a more complete discussion of QA/QC
				techniques and levels of accuracy obtained from
				historical sampling see 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.
Verification of	•	The verification of significant intersections	•	Historical significant intersections quoted have been
sampling and assaying		by either independent or alternative		verified by Independent Geological Consultants
		company personnel.		Micon International Limited. For more details see
	•	The use of twinned holes.		document ‘Updated Mineral Resource Estimate for
	•	Documentation of primary data, data entry		the Pickle Crow Property, Patricia Mining Division,
		procedures, data verification, data storage		Northwestern Ontario, Canada’ NI-43-101 dated 15
		(physical and electronic) protocols.		June 2018 and available from System for Electronic
	•	Discuss any adjustment to assay data.		Document Analysis and Retrieval (www.sedar.com)
				for First Mining Inc.
			•	There are no twinned holes in the dataset but a
				comparison of the results of different drilling

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Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
				generations showed that results were comparable. In
				addition previous operators have duplicated and
				verified results by re-sampling historical core. For
				more details see 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.
			•	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. For more details of historical procedures see
				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. For all drilling not conducted by
				PC Gold (without the PC- hole prefix) no adjustments
				were made to the data.
Location of data points	•	Accuracy and quality of surveys used to	•	Upon completion of PC Gold drillholes collars (PC
		locate drill holes (collar and down-hole		Gold prefix) were surveyed by third party contractors
		surveys), trenches, mine workings and		Delta Surveying and J.D.Barnes of Thunder Bay to
		other locations used in Mineral Resource		with +/- 1m using an SX Blue. For all other drilling
		estimation.		hole collars were converted from local grids or
	•	Specification of the grid system used.		digitised from georeferenced maps. Where possible
	•	Quality and adequacy of topographic		these historical surface drillholes have been re-
		control.		located, surveyed and verified in the field. Drillhole
				locations are also recorded by the Ontario Ministry of
				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 trialed including
				Maxibore tool provided by Reflex Instruments, a
				Devifelx tool operated by TECH Directional services
				and an SPT North SeekingGyro. For Auteco drilling

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Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
				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 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
distribution		Results.		is highly variable and of a progressive exploration in
	•	Whether the data spacing, and distribution		nature.
		is sufficient to establish the degree of	•	Data spacing is considered sufficient to establish
		geological and grade continuity appropriate		geological and grade continuities for mineral
		for the Mineral Resource and Ore Reserve		resource estimation at the Inferred Category
		estimation procedure(s) and classifications	•	No sample compositing was applied.
		applied.
	•	Whether sample compositing has been
		applied.
Orientation of data in	•	Whether the orientation of sampling	•	Drill hole orientations were designed to test
relation to geological		achieves unbiased sampling of possible		perpendicular or sub-perpendicular to the orientation
structure		structures and the extent to which this is		of the intersected mineralisation. Drilling was
		known, considering the deposit type.		typically oriented perpendicular to the trend of
	•	If the relationship between the drilling		geophysical anomalism and the mapped strike and
		orientation and the orientation of key		dip of observed mineralisation on surface and
		mineralised structures is considered to		elsewhere in the project area.
		have introduced a sampling bias, this	•	Due to the density of drilling and the orientation of
		should be assessed and reported if		drilling perpendicular to mineralized bodies there is
		material.		limited bias introduced bydrillhole orientation.
Sample security	•	The measures taken to ensure sample	•	For PC Gold and Auteco drilling (PC- and AUDD*
		security.		prefix), once the 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.

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Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
Audits or reviews	•	The results of any audits or reviews of	•	An audit and review of sampling techniques and data
		sampling techniques and data.		was 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.
			•	An additional audit and review of sampling
				techniques and data was conducted by Cube
				Consulting as part of the Resource Estimation
				subject to this release and consisted of an audit of
				QAQC data from previous operators PC Gold Inc.
				(2011-2017).

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

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
Mineral tenement and	•	Type, reference name/number, location and	•	The mineral concessions of the Pickle Crow project
land tenure status		ownership including agreements or material		consist of 106 patented mining claims covering
		issues with third parties such as joint		1,712ha and 88 contiguous, unpatented claims
		ventures, partnerships, overriding royalties,		covering approximately 14,048ha. Of the 106
		native title interests, historical sites,		patented claims 98 (the Pickle Crow Lease) are held
		wilderness or national park and		in the name of Teck Cominco Limited (Teck) and 8
		environmental settings.		are held in the name of PC Gold. The unpatented
	•	The security of the tenure held at the time		claims are held in the name of PC gold. PC Gold has
		of reporting along with any known		a lease on the 98 patented claims held by Teck
		impediments to obtaining a license to		which expires in 2067. These leasehold claims are
		operate in the area.		subject to two net smelter return (NSR) royalties
				totaling 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 a binding term sheet
				agreement to acquire up to 80% of the Pickle Crow
				Gold Project from First Mining. A payment of
				C$50,000 has been made to First Mining. Subject to
				the completion of a formal agreement, the
				consideration for acquisition of the assets are as
				follows: Upon signing a formal agreement: A further
				C$50,000 and 25,000,000 Shares in the capital of
				Auteco at a deemed issue price of A$0.008 per
				share. Stage 1 Earn-In (51%): Spending C$5,000,000
				over three years comprising: Spending C$750,000
				within a 12-month period ('Expenditure Payment 1'):
				and Spending C$4,250,000 within a 24-month period
				after Expenditure Payment 1 is satisfied; and Subject
				to shareholder approval by Auteco, issuing to First
				Mining 100,000,000 Shares in Auteco. (together
				'Stage 1 earn in'). Stage 2 Earn-In (a further 19%):
				Expendingexploration expenditure in the 24-month

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Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
				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 release (17/02/2020).
			•	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	•	The first government survey of the area was
other parties		exploration by other parties.		performed by 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 way
				from exploration in 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

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Criteria	JORC Code explanation	Commentary
		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 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 thepropertycompleting184

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Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
				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. For
				further details 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.
Geology	•	Deposit type, geological setting and style of	•	The Pickle Crow Gold Deposit is considered to be an
		mineralisation.		Archean 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 Subprovince of the
				Superior Craton of the Canadian Shield.
Drill hole Information	•	A summary of all information material to the	•	Refer to Appendix A in ASX release’s 28/01/2020,
		understanding of the exploration results		26/03/2020, 29/06/2020, 01/09/2020, 11/11/2020,
		including a tabulation of the following		19/01/2021, 07/04/2021, 16/06/2021, 15/07/2021,
		information for all Material drill holes:		02/08/2021, 05/10/202, 02/12/20211, 18/1/2022,
		o easting and northing of the drill hole		3/5/2022 as well as the current release for drill hole
		collar		information for all reported drill holes for this JORC
		o elevation or RL (Reduced Level –		2012 Table 1 and in accordance with ASX listing rule
		elevation above sea level in meters) of		5.7.2.
		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
		clearlyexplain whythis is the case.
Data aggregation	•	In reporting Exploration Results, weighting	•	All drill hole intersections are reported above a lower
methods		averaging techniques, maximum and/or		cut-off grade of 0.5g/t Gold or 1g/t as indicated, with
		minimum grade truncations (eg cutting of		no upper cut off grade has been applied. A maximum
		high grades) and cut-off grades are usually		of 1m internal waste was allowed. Tabulated results
		Material and should be stated.		are presented in ASX announcements 28/01/2020,
	•	Where aggregate intercepts incorporate		26/03/2020, 29/06/2020, 01/09/2020, 11/11/2020,
		short lengths of high-grade results and		19/01/2021, 07/04/2021, 16/06/2021, 15/07/2021,
		longer lengths of low-grade results, the		02/08/2021, 05/10/2021, 02/12/2021, 18/1/2022,
		procedure used for such aggregation		3/5/2022 and Appendix A of this release)
		should be stated and some typical	•	Metal equivalent values are not used
		examples of such aggregations should be
		shown in detail.
	•	The assumptions used for any reporting of
		metal equivalent values should be clearly
		stated.

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Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
Relationship between	•	These relationships are particularly	•	All intersections reported in the body of this release
mineralisation widths		important in the reporting of Exploration		are down hole
and intercept lengths		Results.	•	The majority of the drill holes are drilled as close to
	•	If the geometry of the mineralisation with		orthogonal to the plane of the mineralized lodes as
		respect to the drill hole angle is known, its		possible. A number of drill holes have intersected the
		nature should be reported.		mineralisation at high angles.
	•	If it is not known and only the down hole	•	Only down hole lengths are reported.
		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	•	Maps and sections are included in the body of this
		scales) and tabulations of intercepts should		release as deemed appropriate by the competent
		be included for any significant discovery		person.
		being reported These should include, but
		not be limited to a plan view of drill hole
		collar locations and appropriate sectional
		views.
Balanced reporting	•	Where comprehensive reporting of all	•	Any significant higher-grade zones in historical
		Exploration Results is not practicable,		drilling quoted in this release have been reported in
		representative reporting of both low and		ASX announcements 28/01/2020, 26/03/2020 and
		high grades and/or widths should be		Appendix A of this release)
		practiced to avoid misleading reporting of	•	All results above 0.5g/t lower cut-off or 1g/t quoted in
		Exploration Results.		this release have been reported in ASX
				announcements 28/01/2020, 26/03/2020,
				29/06/2020, 01/09/2020, 11/11/2020, 19/01/2021,
				07/04/2021, 16/06/2021, 15/07/2021, 02/08/2021,
				05/10/2021, 02/12/2021, 18/1/2022, 3/5/2022 and
				Appendix A of this release)
Other substantive	•	Other exploration data, if meaningful and	•	Appropriate plans are included in the body of this
exploration data		material, should be reported including (but		release.
		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 contaminating
		substances.
Further work	•	The nature and scale of planned further	•	Auteco Minerals Limited is currently conducting drill
		work (e.g. tests for lateral extensions or		testing of additional lodes as well as step out and
		depth extensions or large-scale step-out		infill drilling of existing lodes to further enhance the
		drilling).		resources quoted in this release. More information is
	•	Diagrams clearly highlighting the areas of		presented in the body of this report.
		possible extensions, including the main	•	Diagrams in the main body of this release show
		geological interpretations and future drilling		areas of possible resource extension on existing
		areas, provided this information is not		lodes. The company continues to identify and assess
		commercially sensitive.		multiple other target areas within the property
				boundaryfor additional resources.

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