FIRST AU LIMITED — Capital/Financing Update 2021

Feb 2, 2021

First Au Limited (ASX: FAU)

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3 February 2021

More High-Grade Rock Chips Results at VicGold Project, Drilling to Commence this month at Snowstorm

Highlights

• New High-Grade Gold Rock Chips results of up to 86 g/t Au from Haunted Stream / Snowstorm area

• Continued good results overall, from recent rock chip program further underpins the hidden value of the district

• FAU fieldwork develops new Orogenic Gold Model that defines a new structural architecture responsible for controls on high-grade gold mineralisation in the region

• New mapping suggests significant depth potential still exists and is to be tested by drilling around Hibernia-Ernestine trend

• Next phase of exploration - maiden drilling program to commence at the Snowstorm Project in February

• Drill permitting for Haunted Stream underway

First Au Limited (“FAU” or “the Company”) today announces an update to its fieldwork and rockchip sampling underway at its Vic Gold Project, with focus on the Haunted Stream and Snowstorm areas, East Gippsland, Victoria (Figure 1). This work has delineated gold targets, for FAU to commence drilling in mid-February. Rock chip sampling continues to deliver high grade results throughout the FAU tenure (see table 1), with 86 g/t Au recorded from Snowstorm project area.

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Stirling King Mine, Dawson City, Haunted Stream Mines circa 1890’s. Austel Sawyer (left) and Weary Collins (former licence holder) one of the gentlemen on the right (Source: Museums Victoria)

First Au Limited ACN 000 332 918

Registered Office: Level 1 / 123 Whitehorse Road, Balwyn Vic. 3103 Australia. Telephone 03 9817 0700 Facsimile 03 9817 0799 Website: www.firstau.com Email: info@firstau.com

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Figure 1: Geology, gold occurrences (prospect symbol) and tenure map of the FAU Victorian East Gippsland Project, showing location of Haunted Stream (orange rectangle illustrates location of Figure 2), Snowstorm and Highland Chief Prospect area (Coordinates in GDA 94, MGA zone 55).

Haunted Stream Project Area

Overview

A reconnaissance mapping campaign in conjunction with a rock-chip sampling program has been underway since November 2020 and has resolved distinct architectural controls previously unrecognised in the area around the Haunted Stream lease (tenement EL006816). The most recent results from rock chips are highly encouraging and are reported in Table 1A.

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Structural Mapping

The FAU field program has established that gold mineralisation around the Ernestine / Hibernia workings (see Figures 2 and 3 for locations) is controlled by a series of (ductile) shear zones trending NE-SW and N-S trending (Figure 4), which are interpreted to be related to the Bindian (c.a. 410Ma) Orogeny. This is a critical piece of information in future drill planning and exploration targeting within the region.

These identified shear zones around Haunted Stream, reflect a ductile conjugate set of structures and indicate a mesozonal (3 to 8km) depth of formation. This contrasts with FAU’s Snowstorm shear zones (EL5505) which reflect a brittle structural regime (1-3km) depth of formation. Of note, the Bindian Orogeny (c.a. 410Ma) is interpreted to be responsible for the development of the NW and NE striking shear zones suggesting that Haunted Stream was at a deeper crustal level relative to Snowstorm during the Bindian. This knowledge assists in understanding the style of mineralisation to be expected in each area and how it could be targeted differently.

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Figure 2: Ernestine – Hibernia location against historic rock chip results and focus of initial drill program at eastern end of Haunted Stream high-grade gold corridor. (Coordinates in GDA 94, MGA zone 55).

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Figure 3: Ernestine to Hibernia mineralised corridor, Haunted Stream EL006816. Note the position of the New Stirling Shaft in relation to the Ernestine Workings. Note new Stirling Workings (orange circle). (Coordinates in GDA 94, MGA zone 55).

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Figure 4: Sketch of Ernestine and Hibernia shear zone network. Note new Stirling Workings (orange circle)

Earlier mapping by the GSV (Geological Survey of Victoria) also identified that mineralisation was controlled by a series of NE trending shears that contained a south plunging linear component. Victorian Government Mining Records[1] of the major primary gold producers in the Omeo region documented the Ernestine’s average production grade of 38.9g/t Au for 741 tonnes of ore[1] . Other Mining records[2] provide reports regarding historical mining in the area which FAU believes provide further support for the model of mineralisation now being assessed.

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Figure 5: Interpreted geological long section (above) from UG and surface mapping observations.

Mineralisation Mapping

Surface and underground structural mapping and recent rock-chip analysis (Table 1A) by FAU suggests a sub-economic and high-Arsenic (As) up to 1.2% and up to 15m wide, envelope surrounds higher grades which occur in steep southerly plunging shoots (Figure 5) . With a strong As (Arsenic) to Au (Gold) correlation observed across many Victorian Gold deposits (e.g. Fosterville), the high As results are interpreted to reflect the alteration system associated with the gold mineralisation, and potentially a proximal mineralisation indicator. The As is generally hosted in arsenopyrite (or as an As-

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oxide phase in the weathered zone). This means it is a potential vector to economic mineralisation . Further studies are ongoing to better understand the nature of the distribution of As mineral assemblages, widths of alteration and spatial locations (i.e. where it occurs at surface).

The results of the December 2021 rock chip program identified that high-grade gold material recovered from the New Stirling Shaft Mullock Heap is present (Figures 6), as well as the presence of a low-grade, sub-economic gold envelope (see Table 1A).

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Figure 6: Mullock Sample VR0079 returned Assay result 20g/t Au and interpreted to relate to potential high-grade zones FAU aims to test with drill targeting.

Historic records[2] suggest the New Stirling Shaft sunk to 385 feet (~ 117 m) circa 1902, highlights the depth extent of historical workings in the area. Four drives were run from the main shaft, where the south plunging reef system was intersected (Figure 5). Historical records indicate the reef expanded from 1.2m at surface to 4m mineable widths, and over 45m strike length by the 4[th] level, with reports that the reef was increasing in grade (up to 110g/t Au). However, further development was stifled in the early 1900’s with heavy ingress of groundwater and poor airflow inhibiting further depth and strike development.

The results of the December 2021 rock chip program also identified the low-grade envelope is present at the terminal extent of the Ernestine UG Drive (Figure 5) within this similar As-rich alteration material (e.g., Adit Samples VR00034 to VR0046, which have gold up to 3.4 g/t Au but average 0.9 g/t Au, with As up to 1.2 %, with an average of ~ 0.4%. See table 1A for details). Previously reported high-grade rock chips up to 444g/t Au from Ernestine Mullock pile, as well as numerous other high-grade samples ( see ASX FAU Announcement 3[rd] June 2020 ) indicate that high-grade Au is present. It is interpreted that the high-grade samples recorded were potentially recovered from these high-grade shoots, that are now most likely mined out near surface.

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Drill targeting

The Company is planning a drill program to test the depth potential and extent of the new mineralisation model. The Ernestine and Hibernia historic workings are located at the eastern end of the Haunted Stream high-grade gold corridor (Figure 2) and are the focus for the first phase of drilling.

Structural and lithological mapping by FAU Geologists has identified that mineralisation is controlled by a series of ~N-S to NE-SW trending shear zones that exhibit a southerly plunge. Previous mapping undertaken by Geological Survey of Victoria Geologists have recorded correlative structural observations[3] . These observations are critical for assisting FAU Geologists designing optimal drill target directions.

Previous explorer in the region, Mantle Mining drilled ~800m in total[4,5,6] , comprising 7 holes (3 RC and 4 Diamond Holes) targeting the historic workings in 2007/2008 around the Ernestine – New Stirling area ( See Appendix for additional information ). A review of the historic drilling locations on the new UG and surface maps, suggests that Mantle’s drilling intersected the sub-economic mineralisation envelope only (see Table 2A from details). Across the 7 holes drilled, Mantle drilled in 4 different drilling directions. None of which, targeted the interpreted potential high-grade southerly plunging shoot positions (see Figure 5). It is not known whether the previous explorer was aware of the extensive underground development supported by the New Stirling Shaft prior to drilling. HSD002 and HSRC001 were drilled almost parallel to the plane of mineralisation and therefore did not reach the mineralised shear zone (see Figure 7).

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HSRC001
567800mE
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Figure 7: Plan View down-plane of the Ernestine Shear zone against Mantle Mining 2008 Drilling. The Ernestine shear is oriented 80 → 120 (Dip → Azimuth). Coordinates in MGA94 Zone 55.

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Historic long sections[7] for the Hibernia, Excelsior and Lone Hand also further suggest the system remains untested at depth and further presents exciting targets down-plunge (Figure 8).

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Figure 8: Long section of historical workings across the Hibernia mine corridor - View West modified after Hibernia – Lone Hand Long Section.[7]

Haunted Stream Summary

The FAU Geologists are highly encouraged with the developing architectural model for the mineral systems at Haunted Stream. This new working hypothesis assists in assessing and evaluating the efficacy of the historic drilling undertaken in the area as well as assists in new drillhole design.

The working hypothesis for controls on high-grade gold is considered supported with the extent and depth (>150m vertical depth) of historical workings across Ernestine to Hibernia corridor, and greater Haunted Stream high-grade gold corridor (c.f. Figure 2). The FAU Geologists consider that this further underpins the value in resolving the complex structural controls to unlock the hidden value and potential of the region.

Application for drilling permits is underway for the Haunted Stream Ernestine Area.

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Snowstorm Project Update

The maiden drilling program for the Snowstorm area (Tenement EL5505, Figure 1) is due to commence mid-February this year, with Star West Drilling being engaged to complete the work. The drilling is a result of the recent mapping at Snowstorm, which was undertaken to evaluate and assess the structural controls on gold mineralisation and to assist in drillhole targeting.

The recent rock chip program has returned high-grade gold assays up to 86.2 g/t Au (Table 1A) and supports previous high-grade results up to 112 g/t Au ( see ASX FAU Announcement 1[st] December 2020 ).

Gold mineralisation at Snowstorm is hosted by a series of conjugates shear zones and appear intimately associated with a suite of mafic intrusions (sills) that occur sub-parallel to layering (S0).

Specifically, a conjugate series of NW-SE & NE-SW trending shear zones, as well as an ~EW trending shear system crosscut the project area. Across this domain, the rock-pile is deformed by a series of Z- kink band folds, resulting from the interplay of dextral NW-SE trending and sinistral NE-SW trending shear zones (see Figure 9; following page).

At Snowstorm, auriferous quartz veins are hosted by shear zones that crosscut the project area. The NW-SE striking lodes range from 0.5m to 2m wide comprising laminated shear veins and carbonaceous shales. NE-SW lodes range from 0.3m to 1m wide comprising stylolitic quartz veins often containing visible Stibnite (Sb). The presence of Stibnite, coupled with the orientation of brittle conjugate shear zones (Figure 9) suggest that Snowstorm is a high-level, epizonal system (c.f. Fosterville stibnite-Gold Mineralisation association).

Historic workings and previous drilling focussed around testing the depth extent of the mineralised quartz vein from Darby’s Tunnel area (Figure 9). Previous drilling orientations were not optimised for targeting both lode orientations. The upcoming drill program will target both lode orientations and will attempt to focus on the NW-SE trending high-grade auriferous vein orientations.

Mapping of these structures suggest there is a significant continuity of strike to support a potential economic target (>350m strike length) along NW-SE lode structures. Along strike, surface rock chip programs have returned grades from 6g/t Au up to 112g/t Au (Figure 10, see ASX FAU Announcement 1 December 2020 ).

Recent rock-chip results (Table 1A) further assist in vectoring drill hole design and targeting. The mineralised zone at Tom’s Find is approximately 2m wide and has yielded consistent high-grade gold results (45 to 86 g/t au) across the vein (Figures 11, 12 & 13).

Rock-chip analysis in conjunction with litho-structural surface and UG mapping assists in providing a geometric, architecture that allows FAU Geologists to better visualise potential target locations along strike and down-dip of the surface. The nature of high-grade gold mineralisation observed to date at Snowstorm presents a unique opportunity to test a high-grade system to depth with the upcoming drill program.

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Figure 9: Geological map / structural interpretation of Snowstorm (Coordinates in MGA94 Zone 55).

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Figure 10: >350m strike potential for the NW trending high-grade auriferous reefs at Snowstorm (Coordinate in MGA94 Zone 55).

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Figure 11: ~2m wide mineralisation vein with high-grade gold rock chip assays.

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Figure 12: View to East along NW striking mineralised vein, showing sampling at Toms Find.

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Figure 13: Inside Tom’s Find Adit and wall locations of rock chip samples.

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Cited References

1 C.E. Willman, V.J. Morand, M.A. Hendrickx, A.H.M. Vandenberg, S.J. Haydon and C. Carney 1999. 1:100,000 Map Area Geological Report; GSV Report 118 Omeo Geological Report. Geological Survey of Victoria;

2 E.G Duncan, Mining Consultant; Enigma Gold Pty Ltd November 1995, Annual Report 21st October 1995; Victorian Department of Energy and Minerals; Exploration Licence 3576; GSV Catalogue Record #24557 (including a consultant report – History and Geology of ML 1039, P.D Gardner Report, November 1988)

3 Willman, C.E. Morand, M.A., Haydon, S.J. and Carney, C., 1999. Brookville 1:50,000 geological map. Geological Survey of Victoria

4 Brown, A. 2007. Mantle Mining Corp. Ltd, EL3576 Haunted Stream Eastern Victoria Annual Report for the period 1st October 2006 to 30th September 2007. Department of Energy and Minerals, Victoria; Exploration Licence, GSV Catalogue Record #34455

5 Brown, A. 2008. Mantle Mining Corp. Ltd, EL3576 Haunted Stream Eastern Victoria Annual Report for the period 1st October 2007 to 30th September 2008. Department of Energy and Minerals, Victoria; Exploration Licence, GSV Catalogue Record #35367

6 Mantle Mining Corp. Ltd, 2008. Recent Haunted Stream Diamond Drilling Results. Announced to the ASX on the 17th July 2008.

7 Long Section: Stirling Gold Mines. Plan and section of mine workings, showing Lone Hand, Excelsior and Hibernia reefs; Subject: GEOLOGICAL SURVEY OF VICTORIA., 1910. Stirling Gold Mines. Plan and section of mine workings, showing Lone Hand, Excelsior and Hibernia reefs. Plan No 19/A/1. Mines Department, Victoria. Description: GSV Catalogue Record #10483; Authors: GEOLOGICAL SURVEY OF VICTORIA; Publication Year: 1910

Authorised by:

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Bryan Frost Executive Chairman

About First Au Limited: FAU is an advanced gold and base metals exploration company listed on the Australian Securities Exchange (ASX: FAU) and is pursuing a well-funded and aggressive exploration program at its 100% owned Gimlet Gold project near Kalgoorlie and its Talga Projects in the Eastern Pilbara region of Western Australia. FAU has exploration underway at its Victoria Gold Project.

Enquiries in relation to this announcement please contact :

Richard Revelins: rrevelins@firstau.com +1-310-405-4475 Bryan Frost bfrost@firstau.com +61-418 898-885 Dr Gavin England, gavin@claregeo.com.au +61-403-531-832 Technical Director

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Competent Person’s Statement

The information in this announcement that relates to Exploration Results is based on information compiled by Dr Gavin England, a Competent Person who is a member of the Australian Institute of Mining and Metallurgy and the Australian Institute of Geosciences. Dr England is a consultant to First Au Limited (“FAU”). Dr England declares in accordance with the transparency principles of the JORC Code that he has a personal financial interest in the transaction referred to in this Public Report in that he controls G L England Pty Ltd an entity which owns 5% of the issued shares of Victorian Goldfields Pty Ltd. Dr England has also been appointed to the board of directors of FAU as Technical Director. Dr England has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Dr England has consented to the inclusion in this Public Report of the matters based on his information in the form and context in which it appears.

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Table 1A: FAU rock chip sampling December 2020

(Coordinates in GDA 94, MGA zone 55, see JORC table 1 regarding assay and sampling methodology)

TENEMENT	EASTING	NORTHING	SAMPLEID	Au **ppm **	Au(D) **ppm **	Au(R) **ppm **	Ag **ppm **	As **ppm **	Prospect	Rock type
EL007408	551436	5867370	VR0001	16.6	--	--	<0.5	50000	NEW-HIGHLAND CHIEF	VN INQUARTZITE
EL007408	551435	5867340	VR0002	17.6	20.6	--	0.86	56000	NEW-HIGHLAND CHIEF	VN INQUARTZITE
EL006975	548643	5859849	VR0003	0.02	--	--	<0.5	180	ENGINEERS GD ROAD CUTTING	SULPHIDIC SIL/SHL
EL006975	548643	5859849	VR0004	0.06	--	--	<0.5	93	ENGINEERS GD ROAD CUTTING	SULPHIDIC SHL/GWKE
EL006975	548643	5859849	VR0005	0.01	--	--	<0.5	14	ENGINEERS GD ROAD CUTTING	GD/SHL
EL006975	555821	5859177	VR0006	50.4	--	56.1	11	3500	NEW-TURNTABLE COMPASS	GWKE/SIL
EL006975	555821	5859177	VR0007	57.9	--	--	9.8	2300	NEW-TURNTABLE COMPASS	GWKE/SIL
EL006975	555843	5859145	VR0008	22.5	--	--	4.7	860	NEW-TURNTABLE COMPASS	MULLOCK
EL006975	557312	5859142	VR0009	0.76	--	0.83	<0.5	550	NEW-LOGGERS HOLE	MULLOCK
EL006975	557312	5859142	VR0010	3.18	--	--	<0.5	740	NEW-LOGGERS HOLE	MULLOCK
EL006975	557312	5859142	VR0011	3.7	--	--	2.8	670	NEW-LOGGERS HOLE	MULLOCK
EL006975	557312	5859142	VR0012	1.98	--	--	<0.5	530	NEW-LOGGERS HOLE	MULLOCK
EL006816	567736	5854608	VR0013	0.98	--	--	<0.5	3900	QUARRY LOAD	MULLOCK
EL007408	551460	5866701	VR0014	0.03	--	--	<0.5	66	NEW-DOROTHY CUTTING	VN
EL007408	551460	5866701	VR0015	0.06	--	--	<0.5	36	NEW-DOROTHY CUTTING	PITTED SULPHIDES
EL007408	551475	5866554	VR0016	0.56	--	--	<0.5	280	NEW-DOROTHY CUTTING	GRAPHITIC SCHIST
EL007408	551475	5866554	VR0017	21.2	--	19.8	<0.5	180	NEW-DOROTHY CUTTING	SULPHIDIC SCHIST
EL006975	567538	5849782	VR0018	0.08	--	--	<0.5	5.2	OUTBOUND	QUARTZ
EL006816	571927	5854225	VR0019	0.06	--	--	<0.5	5.6	NEW-ANGORA CUTTING	DYKE CON/KNOTTED SCHIST
EL006816	571927	5854225	VR0020	0.05	--	--	<0.5	5.4	NEW-ANGORA CUTTING	AS ABOVE
EL006816	571869	5854177	VR0021	0.03	--	--	<0.5	7.4	EL006816	VN STRINGER
EL006816	569309	5855806	VR0022	0.05	--	--	<0.5	26	EL006816	SULPHIDEQVN
EL5505	555892	5876011	VR0023	0.02	--	--	<0.5	33	DARBYS TUNNEL	MAFIC

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TENEMENT	EASTING	NORTHING	SAMPLEID	Au ppm	Au(D) ppm	Au(R) ppm	Ag ppm	As ppm	Prospect	Rock type
EL5505	555892	5876011	VR0024	10.7	--	11.3	9.5	23000	DARBYS TUNNEL	EAST WALL
EL5505	555892	5876011	VR0025	0.78	--	--	0.78	1200	DARBYS TUNNEL	WEST WALL
EL5505	555892	5876011	VR0026	5.29	--	--	1.6	7500	DARBYS TUNNEL	BACK WALL
EL5505	555676	5876223	VR0027	0.17	0.16	--	0.56	540	SNOWSTORM	QTZ VN
EL5505	555676	5876223	VR0028	0.11	--	--	7.9	440	SNOWSTORM	QTZ VN
EL5505	555683	5876221	VR0029	0.16	--	--	<0.5	250	SNOWSTORM	MULLOCK
EL5505	555683	5876221	VR0030	0.95	--	--	<0.5	500	SNOWSTORM	QTZ VN
EL5505	555689	5876207	VR0031	1.88	--	--	3.7	500	SNOWSTORM	QTZ VN
EL006975	555843	5859145	VR0032	11.3	--	10.5	5.5	480	NEW-TURNTABLE COMPASS	SAMPLE 8 SPLIT
EL006975	557312	5859142	VR0033	0.9	--	--	3.2	450	NEW-LOGGERS HOLE	SAMPLE 11 SPLIT
EL006816	567760	5854722	VR0034	1.38	--	--	<0.5	12000	ERNESTINE	ADDIT@75M
EL006816	567760	5854722	VR0035	0.99	--	--	<0.5	7500	ERNESTINE	ADDIT@75M
EL006816	567760	5854722	VR0036	0.58	--	--	<0.5	4500	ERNESTINE	ADDIT@75M
EL006816	567760	5854722	VR0037	1.13	1.04	--	<0.5	2600	ERNESTINE	ADDIT@75M
EL006816	567760	5854722	VR0038	0.91	--	--	<0.5	6600	ERNESTINE	ADDIT@75M
EL006816	567760	5854722	VR0039	0.98	--	--	<0.5	3300	ERNESTINE	ADDIT@75M
EL006816	567760	5854722	VR0040	0.66	--	--	<0.5	2600	ERNESTINE	ADDIT@75M
EL006816	567760	5854722	VR0041	0.73	--	--	<0.5	4000	ERNESTINE	ADDIT@80M
EL006816	567760	5854722	VR0042	3.03	--	--	<0.5	4900	ERNESTINE	ADDIT@80M
EL006816	567760	5854722	VR0043	0.8	--	0.78	<0.5	450	ERNESTINE	ADDIT@70M
EL006816	567760	5854722	VR0044	0.76	--	--	<0.5	460	ERNESTINE	ADDIT@70M
EL006816	567760	5854722	VR0045	0.04	--	--	<0.5	45	ERNESTINE	ADDIT@40M
EL006816	567760	5854722	VR0046	0.08	--	--	<0.5	52	ERNESTINE	ADDIT@40M
EL006816	566374	5855748	VR0047	0.77	--	--	<0.5	3200	EL006816 - LYNNS FIND	MULLOCK
EL5505	555726	5876138	VR0048	45.8	--	46.2	1.7	25000	TOMS FIND	QVN
EL5505	555726	5876138	VR0049	66.3	--	86.2	5.9	15000	TOMS FIND	QVN
EL5505	555728	5876160	VR0050	48.2	--	--	13	18000	REXS BATH	MID REEF

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TENEMENT	EASTING	NORTHING	SAMPLEID	Au ppm	Au(D) ppm	Au(R) ppm	Ag ppm	As ppm	Prospect	Rock type
EL5505	555728	5876160	VR0051	30.8	--	66	4	7000	REXS BATH	MID REEF
EL5505	555728	5876160	VR0052	56.1	--	--	14	11000	REXS BATH	MID REEF
EL5505	555311	5876697	VR0053	4.2	--	--	15	5700	YONNIE HILL	QVN
EL5505	555776	5876234	VR0054	8.69	--	--	1.6	530	SKELETOR	QVN
EL5505	555714	5876184	VR0055	0.19	--	--	<0.5	120	RBN	QVN
EL5505	555728	5876160	VR0056	32	--	--	1.7	19000	REXS BATH	FW REEF
EL5505	555728	5876160	VR0057	43.5	--	--	20	14000	REXS BATH	FW REEF
EL5505	555728	5876160	VR0058	72.4	--	73.9	12	11000	REXS BATH	FW REEF
EL5505	555969	5876004	VR0059	14.3	--	--	1.5	3400	SNOWSTORM	QVN
EL5505	555892	5876011	VR0060	0.11	--	--	<0.5	31	DARBYS TUNNEL	MAFIC
EL5505	555963	5876031	VR0061	6.95	--	7.45	33	5100	SNOWSTORM	QVN
EL5505	555963	5876031	VR0062	5.81	--	--	46	4500	SNOWSTORM	QVN
EL5505	555963	5876031	VR0063	3.74	--	--	34	2800	SNOWSTORM	QVN
EL5505	555963	5876031	VR0064	3.6	3.32	--	46	3000	SNOWSTORM	QVN
EL5505	555963	5876031	VR0065	7.38	6.97	--	59	4800	SNOWSTORM	QVN
EL5505	555963	5876031	VR0066	9.28	--	--	66	5200	SNOWSTORM	QVN
EL5505	555963	5876031	VR0067	10.3	--	8.44	68	6700	SNOWSTORM	QVN
EL5505	555963	5876031	VR0068	6.21	--	--	41	4500	SNOWSTORM	QVN
EL5505	555963	5876031	VR0069	8.23	--	--	42	6000	SNOWSTORM	QVN
EL5505	555963	5876031	VR0070	2.67	--	--	15	1800	SNOWSTORM	QVN
EL5505	555963	5876031	VR0071	9.37	--	11	60	5500	SNOWSTORM	QVN
EL5505	555963	5876031	VR0072	6.03	--	--	80	4900	SNOWSTORM	QVN
EL5505	555963	5876031	VR0073	5.6	--	--	67	4600	SNOWSTORM	QVN
EL5505	555963	5876031	VR0074	4.33	--	--	47	3000	SNOWSTORM	QVN
EL5505	555963	5876031	VR0075	6.86	--	--	45	5400	SNOWSTORM	QVN
EL5505	555963	5876031	VR0076	7.22	--	--	58	4700	SNOWSTORM	QVN
EL5505	555963	5876031	VR0077	3.55	--	--	21	3100	SNOWSTORM	QVN

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TENEMENT	EASTING	NORTHING	SAMPLEID	Au ppm	Au(D) ppm	Au(R) ppm	Ag ppm	As ppm	Prospect	Rock type
EL5505	555963	5876031	VR0078	6.82	--	--	80	5200	SNOWSTORM	QVN
EL006816	567741	5854660	VR0079	20.8	--	24.3	0.81	4300	ERNESTINE	QTZITE

Table 2A: Drilling details of Mantle Mining 2007

(Coordinates in GDA 94, MGA zone 55, see JORC table 1 more details)

HOLE-ID	EASTING (m)	NORTHING (m)	MAX DEPTH (m)	AZIMUTH	DIP	METHOD	DATE COMPLETED	REMARKS
HSD002	567432	5854197	144	167	-48	DD	27/04/2007	0.8m @ 3.6 g/t Au (from 44.4m)
HSD7	567713	5854633	74.4	121	-52	DD	10/04/2008	13.7m @ 0.6 g/t Au (from 26.6m), 2.7m @ 0.5 g/t Au (from 47.6m), 4.7m@1.3g/t Au(from 55m)
HSD8	567740	5854662	96	146	-55	DD	28/04/2008	9.5m @ 0.8 g/t Au (from 39.4m), 3.8m @ 0.9 g/t Au (from 55m), 2.7m @ 1.6 g/t Au (from 68.9m). Note drilling encountered historic stoppingat 71 m and no intersection was recorded
HSD9	567737	5854666	93.1	110	-60	DD	9/05/2008	1.1m @ 1.3 g/t Au (from 26.5m), 1.4m @ 1.0 g/t Au (from 64m), 1m @0.7g/t Au(from 68.5m)and 0.8m@0.5g/t Au(from 81m)
HSRC001	567554	5854251	132	196	-60	RC	4/05/2007	No significant gold intersection
HSRC002	567508	5854317	74	110	-60	RC	8/05/2007	Visible gold in panning of RC material over 4 zones, however best assay results of 1m@ 1.2 g/t Au (from 25m) ??. Hole did not reach target depth due to drillingdifficulties
HSRC003	567441	5854211	122	110	-58	RC	4/05/2007	2m@ 2.3 g/t Au (from 6m) and 1m@ 3.4 g/t Au (from 34m)

19

– JORC Code, 2012 Edition Table 1 report

JORC Table 1 – Dec 2020 Snowstorm and Haunted Stream Projects surface sampling

Section 1 Sampling Techniques and Data

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

Criteria	JORC Code explanation	Commentary
Sampling techniques	Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.	Techniques employed on the Snowstorm and Haunted Stream Tenements referred to in the text are related to Rockchip data compiled by First Au Ltd during November and December 2020. Up to 1kg representative samples were taken from in-situ exposed rocks at each of the recorded locations. The samples were assayed using Fire Assay PE01S and Standard ICP BM011 NATA Laboratory Methods.
	Include reference to measures taken to ensure sample representation and the appropriate calibration of any measurement tools or systems used.	The rock chip samples were taken of representative mineralised material, concentrating around old workings and including new exposed sites of in-situ quartz vein material.
	Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases, more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.	Rockchip sampling is a standard first pass method of surface exploration. Weights of samples were approximately 1kg weights. These were assayed for gold using 25g screen fire assay for gold using 25g fire assay and Standard ICP (code Fire Assay 25G PE01S and Standard ICP BM011 , OSL, Bendigo) .
Drilling techniques	Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face- sampling bit or other type, whether core is oriented and if so, _by what method, etc). _	No drilling is reported
Drill sample recovery	Method of recording and assessing core and chip sample _recoveries and results assessed. _	No drilling is reported

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	Measures taken to maximise sample recovery and ensure _representative nature of the samples. _	No drilling is reported
	Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gainof fine/coarse material.	No drilling is reported .
Logging	Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical _studies. _	Records of the geology and location are recorded by First Au Ltd Geologists.
	Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.	Rock descriptions are qualitative.
	The total length and percentage of the relevant intersections logged	No drilling is reported
Sub-sampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken.	No drilling is reported
	If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.	No drilling is reported
	For all sample types, the nature, quality and appropriateness of the sample preparation technique.	Rockchip sampling is a standard first pass method of surface exploration. Sample quality is deemed to be representative of the in-situ mineralised material.
	Quality control procedures adopted for all sub-sampling stages to maximise representation of samples.	No sub-sampling was undertaken at this stage.
	Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results _for field duplicate/second-halfsampling. _	The rock chip samples were taken of representative mineralised material around old workings and outcrop. Field duplicates are recorded, and assay repeats were done by thelaboratory.
	Whether sample sizes are appropriate to the grain size of the material being sampled.	Sample sizes were deemed appropriate for nature of exposed in-situ mineralised material.
Quality of assay data and laboratory tests	The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.	Gold Fire Assay technique performed in a certified laboratory (Onsite Laboratory Services, Bendigo, VIC) and is an appropriate method to determine gold concentrate of rock chip samples collected for orogenic gold.
	For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, _calibrations factors applied and theirderivation, etc. _	Not Applicable.
	Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.	This information is compiled from the Analytical Reports supplied by Onsite Laboratory Services, 2 Abel Street, Bendigo VIC 3550 for rock chip samples VR0001 to VR0096. These samples relate to first pass surface exploration in conjunction with a mapping campaign at Snowstorm and Haunted Stream regional reconnaissance.

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		There have been repeats and duplicates given the high-grade nature of some of the gold results, but not external lab checks. The Method and Analyte methods (BM011 & PE01S) are NATA Accredited for Compliance with a registered NATA Accredited Laboratory (20456) with detection limits acceptable to ensure a high-level of accuracy and precision has been met for the representation of assay results.
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel.	Not Applicable
	The use of twinned holes.	Not Applicable
	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.	Documentation of field samples and locations was recorded by First Au Limited Geologists.
	Discuss any adjustment to assay data.	Not Applicable
Location of data points	Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.	Reported sample location captured by handheld GPS by First Au Ltd Geologists and is recorded in MGA94 Zone 55 coordinates
	_Specification of the grid system used. _	Not appliedinthis case
	Quality and adequacy of topographic control.	Not Applicable
Data spacing and distribution	Data spacing for reporting of Exploration Results.	Not Applicable to reported data
	Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve _estimation procedure(s) and classifications applied. _	Surface rock chip and adit sampling is specific and therefore spacing has not been applied.
	Whether sample compositing has been applied.	No
Orientation of data in relation to geological structure	Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.	Sampling was predominantly of vein material at surface, at in many case, structure and extent of mineralisation is unknown.
	If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	No drilling reported
Sample security	The measures taken to ensure sample security.	The samples that were taken and recorded were stored in a locked box on the vehicle priorto delivery directly to OnsiteLaboratory Services at the end ofthefieldwork.
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	This data has not been reported in any other reports.

Section 2 Reporting of Exploration Results

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

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Criteria	JORC Code explanation	Commentary
Mineral tenement and land tenure status	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.	Sampling information by First Au Limited and geology reinterpreted by First Au Limited sits within Snowstorm granted Tenements EL5505, Haunted Stream EL006816 (Jaquian Pty ltd) and additional Haunted Stream extended Project Tenement Applications EL006975, EL007408 (Victorian Goldfields Pty Ltd). The First Au Limited holds rights to the property under an option agreement for the purchase of 80% of the two tenements (EL5505 and PL7319) from “Mines of Stirling Pty Ltd” at Snowstorm (see FAU asx announcement 9th July 2020 for details). The Victorian Goldfields and Jaquian is 80% owned by FAU. See FAU announcement 3rdJune 2020 for details. Majority of the tenement is situated on freehold land, whereas the main working area around Snowstorm is privately owned by the Vendor of Snowstorm. There are no access issues known by FAU.
	The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	The tenements included in this report regarding rock chip sampling are in application or granted. There are no known impediments to obtain these licences.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	Most recently exploration by Mutiny Gold between 2007 to 2014, completed rock chip sampling and adit sampling of old workings. There has also been other limited exploration in the last 40 yrs including Freeport of Australia.
Geology	Deposit type, geological setting and style of mineralisation.	Field reconnaissance and review of the literature suggests that mineralisation has an orogenic signature, is hosted in folded and faulted, Turbidite sequences predominantly comprising quartz-arenite to sandstone, black shale, siltstone and greywacke sequences of Upper Ordovician age rocks. Historic reports from explorers identified both free gold and heavily mineralised sulphide charged gold zones and were the target of early miners in the mid to late 1800’s. Hand specimens indicate the presence of Arseno-pyrites, Pyrite, Chalcopyrite and Pyrrhotite. Where accessible, mapping of available adits and open stopes along with outcrop highlighted mineralised quartz veins occurred in tension vein arrays, conjugate spur and laminated veins, shear veins and hydrothermal breccia style veins occurs best in silicified, chlorite altered sandstone unitsimmediately adjacent blackshale contacts.

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Criteria	JORC Code explanation	Commentary
Drill hole Information	A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: easting and northing of the drill hole collar elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar dip and azimuth of the hole down hole length and interception depth hole length. If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent _Person should clearly explain why this is the case. _	Drilling not reported
Data aggregation methods	In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated.	Drilling not reported and not applicable
	Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.	Drilling not reported and not applicable
	The assumptions used for any reporting of metal equivalent values should be clearly stated.	Drilling not reported and not applicable
Relationship between mineralisation widths and intercept lengths	These relationships are particularly important in the reporting of Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’).	Not Applicable, as rockchip data is only being reported.
Diagrams	Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported. These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	Maps have been included within the report above, with scales provided. All coordinates are in MGA94 Zone 55 projection.
Balanced reporting	Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	All the rockchip assay data is being reported in the announcement derived from the Analytical Report provided by Onsite Laboratory Services, Bendigo on the 05/01/2021 & the 08/01/2021 for samples collected at Snowstorm and Haunted Stream Projects. Samples have been included in Table 1 to illustrate the range of grades encountered.

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Criteria	JORC Code explanation	Commentary
Other substantive exploration data	Other exploration data, if meaningful and 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 contaminating substances.	Not applicable
Further work	The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling). Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	All existing historic data is being compiled for Snowstorm. Further exploration work is currently underway, including the geophysical modelling, field mapping and rock chip sampling. This will be followed by drilling.

25

– JORC Code, 2012 Edition Table 1 report

JORC Table 1 – Historic Drilling, Haunted Stream Ernestine area

Section 1 Sampling Techniques and Data

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

Criteria	JORC Code explanation	Commentary
Sampling techniques	Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.	Techniques employed on the Haunted Stream Tenement EL006816 referred to in the text are related to drilling data compiled from Mantle Mining in 2007 / 2008, reported in - • Brown, A. 2007. Mantle Mining Corp. Ltd, EL3576 Haunted Stream Eastern Victoria Annual Report for the period 1st October 2006 to 30th September 2007. Department of Energy and Minerals, Victoria; Exploration Licence, GSV Catalogue Record #34455 • Brown, A. 2008. Mantle Mining Corp. Ltd, EL3576 Haunted Stream Eastern Victoria Annual Report for the period 1st October 2007 to 30th September 2008. Department of Energy and Minerals, Victoria; Exploration Licence, GSV Catalogue Record #35367 Work was completed by Mantle Mining. The sampling has been carried out on RC and Diamond drilling in 2007 and 2008, with 3 drillholes with a total of 416m. In addition, 4 NQ diameter diamond holes were drilled, to a total depth of 411m. FAU geologists were not involved in these drill programs and have reviewed the results of the provided drill reports, and have made site visits, following up drill hole locations. FAU has determined that the drilling by Mantle is of adequate standard to report as first pass exploration. This was obtained from an online database of the Victorian Mines Dept and was pre JORC 2102. The reporting suggests the samples were assayed for gold using Fire Assay. This data was later applied by FAU in a new geological interpretation of the area.

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	Include reference to measures taken to ensure sample representation and the appropriate calibration of any measurement tools or systems used.	Drilling and the assaying of sample material is standard exploration tool to evaluate gold mineralisation and is best method to provide best representation of material. The drill hole collar locations were surveyed by hand-held GPS. Reporting suggests sampling was carried out under Mantle geologist and assayed accordingly.
	Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases, more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.	For the RC drilling in 2007, Mantle report one metre sample were collected. No information provided in sampling method (e.g. ripple split or spear not recorded). The Diamond drilling in 2007 and 2008 was NQ diameter. Sampling was 1 m or less, dependant on the geology observed. There is no record on whether samples were split as half or quarter core for sampling. No sample size recorded for each 1m sample. All samples were pulverised at the lab to -75um, to produce a 25g charge for Fire Assay with an AAS finish.
Drilling techniques	Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face- sampling bit or other type, whether core is oriented and if so, by what method, etc).	RC – UDR650 Rig, 5 ½ inch hole diameter was carried out by Boart Longyear Diamond Drilling in 2007 was carried out by Boart Longyear, using a UDR650 Rig, NQ diameter coring, using standard tube. Diamond Drilling in 2008 was carried out by Statewide drilling, using a EDSO N200 Rig, NQ diameter coring, using standard tube.
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed.	From the Mantle reporting with RC drilling, sample recovery and quality were not recorded in the Annual Report. From the records, diamond core sampling by Mantle was found to have generally good diamond recovery, were assaying took place.
	Measures taken to maximise sample recovery and ensure representative nature of the samples.	From the Mantle reporting with RC drilling, sample recovery and quality were not recorded in the Annual Report. From the annual technical reports, diamond drilling is generally seen as best method to maximise recovery and ensure representative sample in the case of this style of mineralisation. Recovery issues were logged by Mantle supervising geologist in diamond drilling.
	Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gainof fine/coarse material.	From the annual technical reports, no relationship between recovery and grade was recorded by Mantle. FAU geologists have not determined any sample bias.

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Logging	Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.	From the annual technical reports, all chips and core were geologically logged by Mantle geologists. First Au geologists have not relogged the diamond / RC drill core.
	Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.	From the annual technical reports, Logging by Mantle geologists was mostly qualitative.
	The total length and percentage of the relevant intersections logged	All holes were logged in full by Mantle geologist. FAU geologist has logged the diamond intersections.
Sub-sampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken.	Not recorded in the Annual Technical reports.
	If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.	This has not been reported in the Annual Technical reports
	For all sample types, the nature, quality and appropriateness of the sample preparation technique.	According to the Mantle reporting, samples were prepared at Onsite Laboratories, in Bendigo Victoria (lab code PEO15). Typically, samples are dried, and the whole sample pulverised to 90% passing -75um, and a sub-sample of approx. 200g retained. A nominal 25g was used for the fire assay analysis, with AAS finish. The procedure is industry standard for this type of sample.
	Quality control procedures adopted for all sub-sampling stages to maximise representation of samples.	From the Annual Technical Reports, CRM standards and fine blanks were not reported both drill programs. Sample repeats were commonly applied. No laboratory, regular Repeats andLab Check were evidentindatareported.
	Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.	From the Annual Technical Reports, field duplicates are recorded in the dataset provided. No second half diamond core sampling was recorded in the Mantle report.
	Whether sample sizes are appropriate to the grain size of the material being sampled.	From the Mantle reporting, this is not indicated.
Quality of assay data and laboratory tests	The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.	According to the Mantle reporting, samples were analysed at the Onsite Laboratories, in Bendigo Victoria. The analytical method used was a 25g Fire Assay with AAS finish for gold. The techniques are appropriate for the material and style of mineralization.
	For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.	Not applicable in this case.
	Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.	According to the Mantle reporting, no standards, blanks, field duplicates or external standards. Lab duplicates were carried out, to determine if any nugget effect were occurring. The level of accuracy and precision is adequate for first pass exploration.
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel.	No verification of significant intersections has be made by FAU personnel or independent consultants.

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	The use of twinned holes.	No twinning recorded
	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.	All field logging is carried out by Mantle geologists using Microsoft Excel. Assay files are received electronically from the Laboratory. All electronic data was stored by Mantle Mining and have now been transferred and entered the FAU database.
	Discuss any adjustment to assay data.	No assay data was adjusted.
Location of data points	Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.	According to the Mantle reporting, hole collar locations were surveyed by handheld GPS.
	Specification of the grid system used.	Grid projection is MGA94, Zone 55.
	Quality and adequacy of topographic control.	Collar pick-up of drill holes does an adequate job of defining the topography.
Data spacing and distribution	Data spacing for reporting of Exploration Results.	The drill holes were spaced on a “First Pass” basis and centred on targeting of historic workings already known.
	Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.	This is not considered material.
	Whether sample compositing has been applied.	According to the Mantle reporting, no compositing was applied.
Orientation of data in relation to geological structure	Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.	It is considered the orientation of the drilling and sampling suitably captures the likely “structures” for each exploration domain, although FAU believe they were not adequately understood by the explorationists at the time.
	If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	This relationship is currently being assessed by FAU geologists.
Sample security	_The measures taken to ensure sample security. _	Thishasnot been reported byMantleMining
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	Sampling and assaying techniques are industry standard. No specific audits or reviews have been undertaken at this stage in the program.

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 land tenure status	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 _parkand environmental settings. _	Drilling information by Mantle Mining and geology reinterpreted by First Au Limited sits within Haunted Stream EL006816. The tenement is held under the name of Jaquian Pty Ltd and is 80% owned by FAU. See FAU announcement 3rdJune 2020. There are no other agreements or JV, and the area is not located in a National Park or Reserve.

29

Criteria	JORC Code explanation	Commentary
	The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate _inthe area. _	The tenements included in this report are granted.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	Most recently exploration by Mantle Mining between 2007 to 2014, completed rock chip sampling, ground magnetic surveys, and some limited drilling. The limited historic drilling information for Haunted Stream is not reported in this announcement as it is pre JORC 2012 and is currently being assessed. Once completed, it will be reported in future ASX announcements by FAU. From preliminary data compilation, some of the historic drilling under the old mine workings did intersect gold mineralisation, although initial analysis suggests that some of this drilling was ineffective in properly testing the lode positions due to poor structural control and will require re-drilling by FAU. Other explorers over Haunted Stream area over the past 40 years include Freeport of Australia, Canyon Resources, Enigma Gold, Condor Mining Corporation Limited and Barrick Gold. This data is still been compilated. Most of this exploration has concentrated on surface sampling of historic workings.
Geology	Deposit type, geological setting and style of mineralisation.	Field reconnaissance and review of the literature suggests that mineralisation has an orogenic signature, is hosted in folded and faulted, Turbidite sequences predominantly comprising quartz-arenite to sandstone, black shale, siltstone and greywacke sequences of Upper Ordovician age rocks. Historic reports from explorers identified both free gold and heavily mineralised sulphide charged gold zones and were the target of early miners in the mid to late 1800’s. Hand specimens indicate the presence of Arseno-pyrites, Pyrite, Chalcopyrite and Pyrrhotite. Where accessible, mapping of available adits and open stopes along with outcrop highlighted mineralised quartz veins occurred in tension vein arrays, conjugate spur and laminated veins, shear veins and hydrothermal breccia style veins occurs best in silicified, chlorite altered sandstone units immediately adjacent black shale contacts. Carbonate (+ankerite) spotting occurs throughout the mineralised sections of rock as doesminorcalciteinconjugateveins.

30

Criteria	JORC Code explanation	Commentary
Drill hole Information	A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: ▪ easting and northing of the drill hole collar ▪ elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar ▪ dip and azimuth of the hole ▪ down hole length and interception depth ▪ hole length. If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	Drilling is reported in table provided in the appendix.
Data aggregation methods	In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated.	Diamond drilling is recorded as weighted averages. No cut-off grades applied.
	Where aggregate intercepts incorporate short lengths of high- grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.	This is not applicable to reporting
	The assumptions used for any reporting of metal equivalent values should be clearly stated.	No metal equivalents recorded
Relationship between mineralisation widths and intercept lengths	These relationships are particularly important in the reporting of Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’).	Only downhole lengths are reported, with no true widths been determined yet
Diagrams	Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported. These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	Maps have been included within the report above, with scales provided.
Balanced reporting	Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high	All the drilling by Mantle is reported around the Ernestine area. Best intersects from each hole is reported.

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Criteria	JORC Code explanation	Commentary
	grades and/or widths should be practiced avoiding misleading reporting of Exploration Results.
Other substantive exploration data	Other exploration data, if meaningful and 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 contaminating substances.	Not applicable
Further work	The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling). Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	All historic data is being compilated for Haunted stream. Further exploration work is currently under consideration, including the geophysical modelling, field mapping and rock chip sampling. This will be followed by drilling.

32