FireFly Metals Ltd. — Interim / Quarterly Report 2022

Oct 26, 2022

ASX: AUT 27 October 2022

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ASX ANNOUNCEMENT

September 2022 Quarterly Report

AuTECO set for more Resource growth at Pickle Crow Project in Canada

Extensive mineralisation intersected outside the Resource, assays pending, drilling ongoing

KEY POINTS

• AuTECO set for further growth in the 2.23Moz Inferred Resource at 7.8g/t gold after highly successful quarter in which two drilling rigs returned a host of strong results

• Sampling of outcropping veins at the Metcalf prospect, located ~6km north-west of the Resource, returned highly significant results including assays of 569.0g/t, 35.5g/t, 27.4g/t and 9.0g/t gold

• Excellent Resource extension drill results in the historic Shaft 1 and Shaft 3 areas of Pickle Crow demonstrate the potential to extend the Resource, with results including (refer ASX release dated 11/10/2022):

• 0.4m @ 91.0g/t gold from 149.0m (AUDD0319)

• 0.4m @ 32.2g/t gold from 30.4m (AUDD0327)

• 1.8m @ 8.3g/t gold from 50.7m (AUDD0330)

• 1.5m @ 20.2g/t gold from 488.0m (AUDD0298)

• 2.2m @ 5.5g/t gold from 371.0m (AUDD0294)

• 3.8m @ 3.5g/t gold from 339.2.0m (AUDD0278)

• o 5.0m @ 1.9g/t gold from 294.0m (AUDD0286) o 8.0m @ 1.8g/t gold from 245.0m (AUDD0281)

• Magnetic data being collected over entire 500sqkm of exploration tenure, approximately 60% complete

• During the September quarter, the Company completed 11,316 metres of drilling as part of the current 50,000-metre campaign

• AuTECO remains well funded to continue its growth campaign, with $11M in cash at 30 September 2022

AuTECO Chief Executive Officer Darren Cooke said: “The scope to continue growing the large, high-grade Resource at Pickle Crow is immense. We have intersected substantial mineralisation outside the Resource, both nearby and at regional targets, we have a host of assays pending and drilling is ongoing.

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 Darren Cooke - Chief Executive Officer William Nguyen - CFO & Joint Company Secretary Maddison Cramer - Joint Company Secretary

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

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“Pickle Crow is clearly demonstrating camp-scale potential and we believe there will be more evidence of this in both the next Resource update and the results of upcoming drilling at the highly promising drilling targets.

“The summer field work shows that the parallel structures outside of the mine area, such as the Tarp Lake Shear Zone, are conduits for gold mineralisation.

“With the Canadian winter being the optimal time to access the outlying regional prospects, plans are well underway to test a number of high-quality regional targets towards the end of the next quarter.

“With $11 million in cash at the end of September 2022, AuTECO is well funded to continue its exploration strategy.”

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Summary map showing AuTECO tenure with significant drilling intersections and surface sampling completed during the September quarter (results received and released in early October). For details on pre-AuTECO historical drilling results and previous AuTECO drilling results shown in this map, please refer to ASX releases dated 26 March 2020, 3 May 2022, 23 June 2022 and 11 October 2022.

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ABOUT THE EXPLORATION PROGRAM

A 50,000-metre drill campaign is in progress at the Pickle Crow project in Ontario, Canada and is anticipated to conclude in early 2023. The key strategic objectives of the drill program demonstrate AuTECO’s continued commitment to the dual pathways of driving near-mine Resource growth combined with early-stage exploration and discovery drilling on the 500 square kilometres of regional tenure.

The Company completed a total of 11,316 metres of diamond drilling during the quarter.

SUMMARY OF SEPTEMBER QUARTER RESULTS

Early-Stage Exploration Targeting

Drilling and results received during the September quarter continued to demonstrate the immense potential to expand the current 2.23Moz at 7.8 g/t gold Inferred Resource (see ASX release dated 15 February 2022 for Resource details). The results provide strong evidence to support the Company’s view of the potential presence of an entire mineral district, which includes the Pickle Lake deposit. AuTECO manages ~500km[2] of tenure in the Pickle Lake district.

Assay results from work completed during the 2022 September quarter can be found in the ASX release dated 11 October 2022.

During 2022 to date, first pass early-stage drilling testing has been conducted at multiple regional exploration targets located away from the current Resource. All six targets returned results with anomalous mineralisation. September quarter exploration activities focused on regional mapping, sampling, and target generation. Numerous previously-unknown vein structures have been identified while rock chip sampling of veins has yielded highly anomalous result (Figure 1).

The Metcalf target, located on the Tarp Lake Shear returned rock chip results including 569.0g/t, 27.4g/t and 9.0g/t gold. This surface vein expression confirms the presence of a significant vein system, with historical drill intersections including 1.8m @ 66.9g/t gold and 1.8m @ 28.5g/t gold (refer ASX release dated 26 March 2020).

Approximately 3km south of Metcalf on the Tarp Lake Shear, a rock chip sample of 35.5g/t gold was collected from an outcropping vein. These results confirm that the Tarp Lake Shear is a major regional gold bearing structure with strong potential for a significant discovery.

Preparations are in progress to drill test the Metcalf, Tarp Lake, and Cohen MacArthur prospects during the winter drill campaign.

Lease-wide heli-magnetic geophysical surveys commenced during the quarter; although only approximately 60% complete, preliminary imaging already shows a marked improvement in the comparison to the exisiting data set (Figure 2).

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Figure 1: Map showing the location and key results of rock chip samples collected during the September quarter (refer to ASX release dated 11 October 2022).

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Figure 2 : Lease-wide heli-magnetic geophysical acquisition was in progress during the September quarter, with data collection anticipated to be completed during the current quarter. Results to date show numerous geological targets in addition to refinement of the geological interpretation

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Resource Extension Drilling

Since the beginning of the year, up to three rigs have been dedicated to testing for structural extensions and new veins in the mine area, which hosts a current Inferred Resource of 2.23Moz of gold at a grade of 7.8g/t.

Near-mine drilling during the September quarter continued to focus on Resource growth potential in the historic Shaft 1 and Shaft 3 areas of Pickle Crow (Figure 3).

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Figure 3: Summary map showing AuTECO near mine drilling intersections. Results from drilling completed in the September quarter are highlighted in beige (refer to ASX release dated 11 October 2022).

Recent drilling in the Shaft 1 Area focused on extensions to the Vein 5 vein structure. Historically, more than 200,000 ounces of gold was extracted from the high-grade vein, with the continuous structure averaging approximately 0.5 metres in width. The recent AuTECO drilling has successfully demonstrated the vein continues along strike beyond the extents of historical mining.

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Significant intersections from drilling during the quarter included:

• 0.4m @ 91.0g/t gold from 149.0m in hole AUDD0319

• 0.4m @ 32.2g/t gold from 30.4m in hole AUDD0327

• 1.8m @ 8.3g/t gold from 50.7m in hole AUDD0330

Near-mine exploration drilling has been conducted to test for mineralisation hosted in banded iron formation (BIF). Mineralisation within the BIF occurs in veins surrounded by a gold-bearing sulphide halo. The widths observed in historical intersections indicate the potential for bulk mining extraction within BIF style mineralisation. Recent BIF-hosted results include:

• 1.5m @ 20.2g/t gold from 488.0m in hole AUDD0298

• 2.2m @ 5.5g/t gold from 371.0m in hole AUDD0294

• 3.8m @ 3.5g/t gold from 339.2m in hole AUDD0278

• 5.0m @ 1.9g/t gold from 294.0m in hole AUDD0286

• 8.0m @ 1.8g/t gold from 245.0 in hole AUDD0281

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. The 50,000m drill campaign will continue during the December quarter.

As site accessibility improves in winter, the exploration focus from November 2022 through March 2023 will shift to regional exploration in addition to near mine targets that are inaccessable during the northern-hemisphere summer, such as Tyson.

An updated Resource estimate remains on track for delivery in early 2023.

CORPORATE

Company Secretarial changes

On 10 August 2022, the Company announced the appointment of Ms Maddison Cramer as a Company Secretary of AuTECO. Ms Cramer is Joint Company Secretary with Mr William Nguyen, the current Joint Company Secretary and Chief Financial Officer. Mr Naylor stepped down as a Company Secretary on the same date.

Financial Information

AuTECO’s cash position at 30 September 2022 was $11.0M. Refer to Appendix 5B report provided separately for principal movements in consolidated cash for the quarter.

Information as disclosed in the Cash Flow Report:

• Net cash used in exploration activities (expensed and capitalised) totalled ~$5.5M;

• There were no mining production and development activities during the quarter; and

• Payments to related parties of the Company and their associates for Executive and Nonexecutive Directors fees, including (where applicable) superannuation, totalled $137K.

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Health & Safety

COVID-19 prevention practices remained in place at Pickle Crow, which has recorded eight cases to date with no impact on day-to-day operations.

The Pickle Crow gold project 12-month rolling average Lost Time Injury Frequency Rate (LTIFR) as of 30 September 2022 remains at zero (0.0). One restricted work injury occurred during the September quarter, with a finger injury sustained on a drill rig.

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

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

The Company also holds 90% interest in 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

COMPLIANCE STATEMENTS

Exploration Results referred to in this announcement (including pre-AuTECO historical drilling results) were first reported in accordance with ASX Listing Rule 5.7 in the Company's ASX announcements dated 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, 18/01/2022, 15/02/2022, 03/05/2022, 23/06/2022 and 11/10/2022. 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.

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The Company’s Mineral Resource Estimate referred to in this announcement and set out in the table below was first reported in its ASX release dated 15 February 2022, titled "Resource increases by 500,000oz to 2.23Moz at 7.8g/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.

Inferred Mineral Resource Estimate – as at 31 December 2021

Mineralisation Domain	Lower Cut-off	Tonnes (Mt)	Gold Grade (g/t)	Gold (Million oz)	Variance to 30 June 2021 Resource
Quartz Lodes	3.5g/t	6.4	9.3	1.92	+0.45Moz
Alteration Hosted (BIF)	2.0g/t	2.5	3.8	0.30	+0.06Moz
TOTAL		8.9	7.8	2.23	+0.51Moz (+30%)

DISCLAIMER

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

FORWARD LOOKING INFORMATION

This announcement may contain certain forward-looking statements and projections, including statements regarding AuTECO’s plans, forecasts and projections with respect to its mineral properties and programs. Although the forward-looking statements contained in this release reflect management’s current beliefs based upon information currently available to management and based upon what management believes to be reasonable assumptions, such forward looking statements/projections are estimates for discussion purposes only and should not be relied upon. They are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors many of which are beyond the control of the Company. The forward looking statements/projections are inherently uncertain and may therefore differ materially from results ultimately achieved.

For example, there can be no assurance that AuTECO will be able to confirm the presence of Mineral Resources or Ore Reserves, that AuTECO’s plans for development of its mineral properties will proceed, that any mineralisation will prove to be economic, or that a mine will be successfully developed on any of AuTECO’s mineral properties. The performance of AuTECO may be influenced by a number of factors which are outside the control of the Company, its directors, staff or contractors.

The Company does not make any representations and provides no warranties concerning the accuracy of the projections, and disclaims any obligation to update or revise any forward looking statements/projects based on new information, future events or otherwise except to the extent required by applicable laws.

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APPENDIX 1

Summary of Mining Tenements held at the end of September 2022 Quarter

AuTECO Minerals Ltd

Western Australia

PROJECT	TENEMENT NO.	STATUS	INTEREST	TENURE HOLDER
Limestone Well	E20/846	Granted	90%	AuTECO Minerals Ltd
Limestone Well	E57/1069	Granted	90%	AuTECO Minerals Ltd

Monax Alliance Pty Ltd

South Australia

PROJECT	TENEMENT NO.	STATUS	INTEREST	TENURE HOLDER
Kulitjara	ELA 2013/168	Application	100%	Monax Alliance Pty Ltd
Anmuryinna	ELA 2013/169	Application	100%	Monax Alliance Pty Ltd
Poole Hill	ELA 2013/170	Application	100%	Monax Alliance Pty Ltd

Revel Resources Ltd

Ontario, Canada

PROJECT	TENEMENT NO.	STATUS	INTEREST	TENURE HOLDER
Trappers Cabin	604520 to 605119 605437 to 605480	Granted	100%	Revel Resources Ltd
Gold Thrust	605481 to 605784	Granted	100%	Revel Resources Ltd

Revel Resources (JV Project) Ltd

Ontario, Canada (interest 70%)

Pickle Crow Project: AuTECO has entered into an earn-in agreement with First Mining Gold Corp (TSX:FF) to acquire up to an 80% interest in PC Gold Inc, the 100% holder of the Pickle Crow Gold Project. For further details refer to ASX announcements dated 28 January 2020, 17 February 2020, 13 March 2020, 18 March 2021 and 2 August 2021.

GRANTED TENEMENT NO.

102631	173067	247646	335092	672232
102632	173068	247647	335442	672233
102636	173091	249298	335443	672234
102637	173136	257912	335446	672235
102655	173138	265530	335468	672236
102656	173544	265531	344008	672237
102688	173853	265581	344010	672238
102716	173854	265585	344012	672239
102717	173875	265601	344013	672240
102720	182415	265604	344014	672241
102773	182433	265623	344029	672242
102796	182434	265624	344030	672243

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102797	182438	266182	344031	672244
102827	182440	266185	344580	672245
102882	182468	266188	344581	672246
102979	182472	266203	344582	672247
103184	182473	266205	344583	672248
103203	183017	266847	344584	672249
112269	183069	266850	344633	672250
112270	183090	267574	344637	672251
117286	183091	272992	344655	672252
117311	183092	273007	344659	672253
117314	183093	273011	344681	672579
117315	183115	273012	344683	711253
117334	183118	273017	344745	711477
117335	188411	273572	345282	719977
117935	188414	273618	345328	720020
117936	188415	273619	345347	PA 185 (PA 2061)
117942	188422	273620	345348	PA 186 (PA 2062
117947	188443	273642	562622	PA 187 (PA2063)
117948	188444	273643	562636	PA 188 (PA 2064)
117969	188445	273644	562648	PA 189 (PA 2065)
117970	188446	273663	562649	PA 199 (PA 2067)
117977	188502	273664	562650	PA 200 (PA 2068)
117998	188519	274255	562651	PA 201 (PA 2066)
117999	188547	274303	562652	PA 2011
118002	189122	274325	562653	PA 202 (PA 2069)
118032	189170	275021	562654	PA 2062A)
				PA 2071e (PA 2071 &
118094	189214	275022	562655	PA 2072)
118095	189695	275031	562656	PA 2133
118115	189900	275087	562657	PA 2139
118121	189903	275551	562658	PA 2140
118227	189922	276008	562659	PA 2141
118288	189923	285057	562660	PA 2185
124493	196962	285058	562661	PA 2586
124494	196963	285059	562662	PA 63
124495	196967	285060	562663	PA 637
124496	196968	285069	562664	PA 638
124519	196969	285076	562665	PA 639
124522	196984	285088	562666	PA 64
124523	196985	285089	562667	PA 640
125042	196986	285090	562668	PA 644
125043	202396	285091	562669	PA 646
125075	203622	285629	562670	PA 65
125076	207336	285634	562672	PA 66
125145	207590	285635	562673	PA 665 (PA 2073)
125147	207603	285652	562674	PA 666 (PA 2076)
125150	207626	285657	562675	PA 667 (PA 2077)
125151	207649	285708	562676	PA 668 (PA 2075)
125176	207652	285709	562677	PA 669 (PA 2078)
125177	207653	285732	562678	PA 67
125772	207654	285734	562679	PA 670 (PA 2070)
125797	207655	285759	562680	PA 671 (PA 2074)
125837	207657	286396	562681	PA 675
125856	207720	286415	562682	PA 676
127040	208244	287100	562683	PA 677
127041	208316	287122	562684	PA 68
127444	208340	287631	562685	PA 684
135139	208385	292388	562690	PA 685
137058	208401	292389	562765	PA 686
137059	208405	292410	562766	PA 69
137060	208406	292411	562767	PA 696
				Page

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137199	208936	292412	562768	PA	697
137200	208938	292416	562769	PA	698
137848	209208	292417	562770	PA	699
143310	209914	292431	562771	PA	70
147879	209915	292453	562772	PA	700
151198	210048	292454	562774	PA	701
152985	215596	292455	562776	PA	702
152991	217803	293007	562777	PA	703
152992	217811	293008	562778	PA	704
152993	217812	293009	562779	PA	705
152998	218333	293032	562781	PA	706
153006	218335	293035	572086	PA	707
153007	218362	293058	626535	PA	725
153008	218363	293547	672170	PA	726
153009	218364	293548	672171	PA	727
153012	218365	293675	672172	PA	728
153013	218368	293710	672173	PA	729
153037	218369	294406	672174	PA	730
153039	218381	294432	672175	PA	735
153040	218392	294433	672176	PA	736
153068	218393	305805	672177	PA	737
153615	218448	312407	672178	PA	738
153617	218449	312408	672179	PA	739
153633	218450	312492	672180	PA	740
153740	218470	321608	672194	PA	741
153741	218471	321614	672195	PA	742
153759	218480	321616	672196	PA	743
154984	218481	321617	672197	PA	744
154985	219051	321618	672198	PA	745
155002	219052	321619	672199	PA	746
155022	219053	321622	672200	PA	747
157233	219054	321636	672201	PA	748
157234	219055	321667	672202	PA	749
161424	219145	321669	672203	PA	750
169618	219146	321673	672205	PA	751
169638	219147	321683	672206	PA	755
169639	219166	321699	672207	PA	756
169646	219167	321700	672208	PA	757
169672	220349	322281	672209	PA	758
169674	220350	322284	672210	PA	759
169675	220351	322303	672211	PA	760
169709	225800	322304	672212	PA	761
169710	225801	322361	672213	PA	762
169711	225802	322387	672214	PA	763
170264	225804	322388	672215	PA	773
170269	225818	322949	672216	PA	774
170280	225819	322950	672217	PA	775
170281	225833	322951	672218	PA	776
170302	225834	323594	672219	PA	777
170303	225835	323613	672220	PA	778
170304	226401	323614	672221	PA	779
170362	226403	323615	672222	PA	780
170363	227038	323616	672223	PA	781
170889	227086	323620	672224	PA	90 (PA 2161)
170936	227087	323640	672225	PA	91 (PA 2157)
170957	227106	324716	672226	PA	92 (PA 2158)
171607	227793	325337	672227	PA	93 (PA 2159)
171632	227821	325338	672228	PA	94 (PA 2162)
171633	227822	333761	672229	PA	95 (PA 2163)
171655	238344	334628	672230	PA	96 (PA 2160)
171905	238522	334629	672231

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Mining Tenements and Beneficial Interests acquired during the Quarter: Nil.

Mining Tenements and Beneficial Interests disposed of during the Quarter: Nil

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Rule 5.5

Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

quarterly cash	flow report
Name of entity
AuTECO Minerals Ltd
ABN 96 110 336 733	Quarter ended (“current quarter”)
96 110 336 733	30 September 2022

Consolidated statement of cash flows	Current quarter $A’000	Year to date (3 months) $A’000
1. Cash flows from operating activities 1.1 Receipts from customers 1.2 Payments for (a) exploration & evaluation (b) development (c) production (d) staff costs (e) administration and corporate costs 1.3 Dividends received (see note 3) 1.4 Interest received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Government grants and tax incentives 1.8 Other * (provide details if material) 1.9 Net cash from / (used in) operating activities	- (397) (386) 29 - 3,813	- (397) (386) 29 - 3,813
	3,059	3,059
*Other comments: The receipt of funds relates to refundable commodity tax claimed with the Canadian government which were previously paid on exploration expenditures.
2. Cash flows from investing activities 2.1 Payments to acquire or for: (a) entities (b) tenements (c) property, plant and equipment (d) exploration & evaluation (e) investments (f) other non-current assets	(4) (204) (5,482)	(4) (204) (5,482)

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

Page 1

Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

Consolidated statement of cash flows	Current quarter $A’000	Year to date (3 months) $A’000
2.2 Proceeds from the disposal of: (a) entities (b) tenements (c) property, plant and equipment (d) investments (e) other non-current assets 2.3 Cash flows from loans to other entities 2.4 Dividends received (see note 3) 2.5 Other (provide details if material) 2.6 Net cash from / (used in) investing activities
	(5,690)	(5,690)
3. Cash flows from financing activities 3.1 Proceeds from issues of equity securities (excluding convertible debt securities) 3.2 Proceeds from issue of convertible debt securities 3.3 Proceeds from exercise of options 3.4 Transaction costs related to issues of equity securities or convertible debt securities 3.5 Proceeds from borrowings 3.6 Repayment of borrowings 3.7 Transaction costs related to loans and borrowings 3.8 Dividends paid 3.9 Other (provide details if material) 3.10 Net cash from / (used in) financing activities	(1)	(1)
	(1)	(1)
4. Net increase / (decrease) in cash and cash equivalents for the period
4.1 Cash and cash equivalents at beginning of period 4.2 Net cash from / (used in) operating activities (item 1.9 above) 4.3 Net cash from / (used in) investing activities (item 2.6 above) 4.4 Net cash from / (used in) financing activities (item 3.10 above)	13,588 3,059 (5,690) (1)	13,588 3,059 (5,690) (1)

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

Page 2

Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

Consolidated statement of cash flows	Current quarter $A’000	Year to date (3 months) $A’000
4.5 Effect of movement in exchange rates on cash held 4.6 Cash and cash equivalents at end of period	6	6
	10,962	10,962
5. Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts	Current quarter $A’000	Previous quarter $A’000
5.1 Bank balances 5.2 Call deposits 5.3 Bank overdrafts 5.4 Other (provide details) 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above)	10,923 39	13,551 37
	10,962	13,588
6. Payments to related parties of the entity and their associates		Current quarter $A'000
6.1 Aggregate amount of payments to related parties and their associates included in item 1 137 6.2 Aggregate amount of payments to related parties and their associates included in item 2 - Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments.		137
		-

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

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Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

7. 7.1 7.2 7.3 7.4 7.5 7.6	Financing facilities Note: the term “facility’ includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. Total facility amount at quarter end $A’000 Amount drawn at quarter end $A’000 Loan facilities Credit standby arrangements Other (please specify) Total financing facilities Unused financing facilities available at quarter end Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well.	Total facility amount at quarter end $A’000	Amount drawn at quarter end $A’000

8.	Estimated cash available for future operating activities	$A’000
8.1 8.2 8.3 8.4 8.5 8.6 8.7 8.8	Net cash from / (used in) operating activities (item 1.9) 3,059 (Payments for exploration & evaluation classified as investing activities) (item 2.1(d)) (5,482) Total relevant outgoings (item 8.1 + item 8.2) (2,423) Cash and cash equivalents at quarter end (item 4.6) 10,962 Unused finance facilities available at quarter end (item 7.5) - Total available funding (item 8.4 + item 8.5) 10,962 Estimated quarters of funding available (item 8.6 divided by item 8.3) 4.5 Note: if the entity has reported positive relevant outgoings (ie a net cash inflow) in item 8.3, answer item 8.7 as “N/A”. Otherwise, a figure for the estimated quarters of funding available must be included in item 8.7. If item 8.7 is less than 2 quarters, please provide answers to the following questions: 8.8.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not?	3,059 (5,482) (2,423) 10,962 -
		10,962
	Answer: Not applicable
	8.8.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful?
	Answer: Not applicable

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

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Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

8.8.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis?

Answer: Not applicable

Note: where item 8.7 is less than 2 quarters, all of questions 8.8.1, 8.8.2 and 8.8.3 above must be answered.

Compliance statement

• 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.

• 2 This statement gives a true and fair view of the matters disclosed.

Date: 27 October 2022...............................................................

Authorised by: The Board of Directors................................................

(Name of body or officer authorising release – see note 4)

Notes

1. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity’s activities for the past quarter, how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so.

2. If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report.

3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.

4. If this report has been authorised for release to the market by your board of directors, you can insert here: “By the board”. If it has been authorised for release to the market by a committee of your board of directors, you can insert here: “By the [ name of board committee – eg Audit and Risk Committee ]”. If it has been authorised for release to the market by a disclosure committee, you can insert here: “By the Disclosure Committee”.

5. If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations , the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively.

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

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