FOCUS MINERALS LTD - Capital/Financing Update 2023

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Market Announcement

2 August 2023

Dreadnought Deposit and Empress – Dreadnought Low Grade Stockpile Mineral Resource Update

Highlights:

24.1% increase in total Dreadnought Open Pit Mineral Resource ounces
Empress - Dreadnought Low Grade Stockpile Mineral Resource is mine ready with approved mine proposal

West Australian gold company Focus Minerals Limited ( ASX: FML ) ( Focus or the Company ) is pleased to announce updated Mineral Resource estimation for the Dreadnought Deposit, part of the Company’s 100%-owned Coolgardie Gold Operations ( Coolgardie ).

Coolgardie comprises 141km[2] of highly prospective tenements on the outskirts of the Coolgardie township in the Goldfields region (Figure 1). Dreadnought is located 300m south of the Tindals/Empress mine complex.

Dreadnought mineralisation is primarily hosted by diorite and hornblende-feldspar porphyries that have intruded the Brilliant Ultramafic unit (Figure 2). The Dreadnought Deposit and low grade (LG) stockpiles are located adjacent to the Tindals Haul Road 4.4 km south of Coolgardie townsite (Figure 2).

The new Dreadnought Open Pit Mineral Resource is reported on a dry tonnage basis using 0.6g/t cut off to 280mRL (140m below surface) and compared with previously reported Mineral Resource Estimate in 2013.

Classification	Tonnage (Mt)	Change Tonnage %	Au Grade (g/t)	Change Grade %	Au Oz	Change Oz %
Indicated	2.82	+48.4%	1.51	-24.4%	137,000	+12.3%
Inferred	0.51	+252.4%	1.48	-12.7%	24,400	+204.8%
Total open pit Mineral Resource	3.33	62.8%	1.51	-23.8%	161,400	+24.1%

Commenting on the updates to the Dreadnought Open Pit and Empress – Dreadnought Low Grade Stockpile Mineral Resources, Focus’ Executive Chairman, Mr Wanghong Yang, said:

“The updated Mineral Resource for the Empress - Dreadnought Low Grade Stockpile provides flexibility for Focus’s mining plan. The full review of the Dreadnought Deposit has improved our confidence in the Mineral Resource estimate and provides flexibility to our future LOM plan.”

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Following Mineral Resource updates for the Dreadnought Open Pit and Empress – Dreadnought Low Grade Stockpile, the Company’s total Measured, Indicated and Inferred Mineral Resources at Coolgardie comprise:

Classification	Tonnage (Mt)	Au Grade (g/t)	Au Contained Moz
Total Measured	4.4	1.5	0.205
Total Indicated	25.8	1.9	1.545
Total Inferred	15.4	2.0	1.011
Total Mineral Resource	45.6	1.9	2.762

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Figure 1: Key Coolgardie project deposits with recent Mineral Resource Estimates including remnant Empress – Dreadnought Low Grade Stockpile Mineral Resource

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Figure 2: Satellite image with semitransparent geology covering the areas around Dreadnought Open Pit and extending to the Empress – Tindals Mine Complex. The footprint of the Empress – Dreadnought Low Grade Stockpile prior to 2022/2023 toll milling is marked by a magenta polyline. 2022 toll treatment mining comprised 129,3890 t @ 0.89 g/t (head grade) for 3,700 oz mined - 3,460oz recovered (95.6% recovery). A smaller toll milling campaign was completed in the June Quarter 2023 comprising 55,763 t @ 0.81 g/t (head grade) for 1,450oz mined.

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Mineral Resource Estimation

Dreadnought is a structurally/geologically very complex deposit. The deposit contains eight primary structural/geological domains which have variable mineralisation style and orientation. An additional low-grade domain envelope has also been estimated that encompasses each of the eight primary domains.

The Dreadnought Open Pit Mineral Resource has been completed using a combination of detailed Ordinary Kriged ( OK ) modelling of lodes within each domain and within the overall low grade envelope domain.

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Figure 3: Plan view of Dreadnought OP MRE. Green rectangle shows model extents, eight primary Dreadnought structural/geological domains are coloured/labelled, drill traces are also shown.

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During May and June 2023, Focus completed 23 reverse circulation ( RC ) holes for 2,736m drilling targeting some of the shallow Inferred Category Mineral Resources at Dreadnought for conversion to Indicated Category. Significant intersections returned by this drilling include (refer to JORC Table 1 for full details of drill holes):

23DNRC007 - 27.00m @ 4.87g/t from 43m for (GxM 131)
23DNRC008 - 41.00m @ 1.26g/t from 95m for (GxM 52)
23DNRC010 - 29.00m @ 1.76g/t from 85m for (GxM 51)
• 23DNRC002 - 24.00m @ 1.46g/t from 95m for (GxM 35)

The drilling was successful and allowed a final phase of Mineral Resource review, modelling and estimation prior to pit optimisation and design. Additional care was taken to identify consistently highergrade mineralised structures and model these into separate high-grade domains such as Domain 2 (Figures 8 and 9). This improves the spatial control on the location of higher-grade mineralisation and restricts its ability to influence material outside the high-grade domains.

It is noted that a significant up dip and from surface part of Domain 2 has not been sufficiently drill tested beneath the east wall of the pit up to its intersection with the Dreadnought Fault (Domain 3 – Figures 8 and 9). This remains a potentially high-grade drill target for follow up. This area has not been previously drilled due to the historic location of now removed dumps and focus of mining further to the west of Domain 2.

Classification	Tonnage (Mt)	Change Tonnage %	Au Grade (g/t)	Change Grade %	Au Oz	Change Oz %
Indicated	2.82	+48.4%	1.51	-24.4%	137,000	+12.3%
Inferred	0.51	+252.4%	1.48	-12.7%	24,400	+204.8%
Total open pit Mineral Resource	3.33	62.8%	1.51	-23.8%	161,400	+24.1%

Despite Dreadnought having a significant Mineral Resource the reporting depth has been limited to only 140m depth taking into consideration:

Depth of RC drilling.
Future pit will be a cut back on a 65m deep pit – impacting economic depth of extraction.
Applicable royalties.
Mineralisation geometries are complicated and will impact open pit production rate.
Mineralisation geometries are complicated and will impact recovery/dilution.

It is noted that the new (JORC 2012) Mineral Resource estimate contains significantly more tonnes at a lower grade that the 2013 (JORC 2004) Mineral Resource estimate. This is partially as a result of reporting at 0.6 g/t cut off rather than 1 g/t cut off. However, the main difference relates to comprehensive geology driven remodelling of this complex deposit.

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Figure 4: View looking down and to the north at the 2023 remnant Indicated and Inferred Dreadnought Open Pit Mineral Resource Estimate. Block model centroids are coloured by Au g/t (see inset legend). Semi – transparent mapped geology is draped on the digital terrain model. 2023 RC drilling traces (black lines) are marked with grades cut at 0.6g/t and coloured as per inset legend. Select significant intersections calculated using 0.5 g/t cut off and up to 3m internal dilution are labelled.

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The Empress - Dreadnought Low Grade Stockpile comprises 28%from Empress Open Pit: 72% from Dreadnought Open Pit. To deliver a reliable Mineral Resource, a program of 59 RC grade control holes was implemented at 10m to 15m lateral spacing for 1,147m. In addition, 10m spaced rock chip samples were collected over the entirety of the dump and any paddock dumped areas to provide further details on the nature of the stockpile.

Drill sampling stockpiled material can be problematic as it is common to encounter intervals with poor or even no sample return. These issues are typically found in less consolidated areas of stockpile such as the tip head and surrounding rill slopes that are poorly compacted.

Nine RC holes proximal to the southern rill edge of the stockpile were significantly affected by poor sample return (Figures 5 and 6). This part of the stockpile is considered under sampled and is defined by a 58.7Kt south dipping wedge of mostly fresh rock material. It is also noted the rill slopes that surround the central part of the stockpile are similarly under sampled.

For the purposes of Mineral Resource Estimation mine production data has been reviewed for both the Empress and Dreadnought deposits. Material mined for low grade stockpile between 2011 -2013 had an in-situ grade of 0.8 g/t and was diluted by mining to 0.62g/t.

During toll milling the head grade of feed from the Empress - Dreadnought LG Stockpile ranged from 0.75 g/t to 1.25 g/t with a weighted average of 0.89 g/t. This indicates that the estimated diluted grade of material historically assigned to low grade from the Empress and Dreadnought deposits was significantly under called by about 40%. For the purpose of Mineral Resource estimation material with insufficient follow up sampling within the Empress – Dreadnought LG Stockpile has been assigned a set grade of 0.85 g/t. Which is slightly less than the median grade achieved during toll milling in 2022.

Of the remaining 50 grade control holes covering the majority of the stockpile, five scattered holes had significantly worse sample return (Figure 5). These holes are surrounded by reasonably close spaced holes with acceptable recovery and as such the remainder of the stockpile is considered to be effectively sampled.

Of the 45 holes with better sample recovery, 41 have recorded cumulative intersections exceeding 7 gram x meters (GxM). Some of the significant intersections recorded by this drilling include holes partially impacted by poor sample return. A selection of some intersections calculated using 0.5 g/t cut of and up to 2m internal dilution include (refer to JORC Table 1 for full details of drill holes):

22DNRC037 - 19.00m @ 2.72g/t from 3m for (GxM 52)
• 22DNRC005 - 8.00m @ 3.86g/t from 2m for (GxM 31) • 22DNRC004 - 2.00m @ 15.43g/t from 6m for (GxM 31) • 22DNRC049 - 14.00m @ 1.32g/t from 3m for (GxM 18) • 22DNRC030 - 16.00m @ 1.09g/t from 6m for (GxM 17) • 22DNRC038 - 14.00m @ 1.16g/t from 9m for (GxM 16) – 9m sample loss at start of hole • 22DNRC031 - 14.00m @ 1.02g/t from 4m for (GxM 14) • 22DNRC045 - 9.00m @ 1.39g/t from 9m for (GxM 12) • 22DNRC019 - 10.00m @ 1.15g/t from 3m for (GxM 11) • 22DNRC036 - 7.00m @ 1.5g/t from 16m for (GxM 10) • 22DNRC012 - 3.00m @ 3.41g/t from 10m for (GxM 10) • 22DNRC029 - 10.00m @ 1g/t from 10m for (GxM 10) • 22DNRC009 - 8.00m @ 1.24g/t from 10m for (GxM 10) – 7m sample loss at start of hole

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Figure 5: View looking down and to the west of the Dreadnought Low Grade Stockpile which pre mining comprises 353.6Kt of material. The location of 59 grade control holes for 1,147m drilling completed are shown. Intervals affected by poor sample return are marked by black discs. Intervals with acceptable sample return are coloured by gold grade as per the inset legend. Holes at the southern rill slope affected by poor sample recovery are highlighted by red ellipses. Other scattered holes that were affected by poor sample return are marked by yellow ellipses.

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Figure 6: North-south cross section looking west through central part of the Dreadnought LG Stockpile. Drilling and block model centroid gold grades (g/t) are coloured as per inset legend. The LG Stockpile pre toll milling Indicated Mineral Resource Estimate has been sub-domained with details listed in the inset legend. It is noted that the low-grade stockpile grade exceeds estimated cut offs for processing at the refurbished Three Mile Hill Mill.

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The Empress – Dreadnought LG Stockpile has been domained into four minable volumes (Figure 6) reflecting different estimated grades:

Pre- strip Southern Domain – is mostly fresh rock material extending from the southern part of the stockpile and onlapping the southern edge of the Southern Domain. This material was originally unclassified due to lack of successful grade control sampling. As such pre-stripping for resampling was considered as a possible option for this material. During the 2022 toll milling campaign 15,586t of this pre-strip domain was processed confirming it has average stockpile grade. As such there is no longer any reason to consider pre-stripping this material in follow up mining campaigns.
Southern Domain – is mostly well sampled material with generally elevated grade compared to the remainder of the stockpile. The northern margin of this domain is defined by a 30 degree rill slope that extends generally east - west across the stockpile and is potentially a minable shape if selective mining of the stockpile is targeted.
Central Low-Grade Domain – 0.6kt block of lower grade material underlying the central part of the Southern domain. This domain could be conceivably left in place if selective mining of higher-grade material was targeted.
Northern Domain – is mostly well sampled material underlying the northern edge of the Southern domain and extending to the northern limit of the stockpile.

The pre mining Empress – Dreadnought LG Stockpile Mineral Resource is reported on a dry tonnage basis. All material reported by domain exceeds 0.4 g/t economic cut off for treatment at Three Mile Hill Mill.

Domain	Tonnage (Kt)	Au Grade (g/t)	Au Contained Oz
Southern Pre strip/rill slopes Indicated Category	58.7	0.85	1,604
Southern Domain Indicated Category	203.4	0.83	5,456
Low Grade Domain Indicated Category	0.6	0.66	12
Northern Domain Indicated Category	90.9	0.78	2,266
Total Empress – Dreadnought Low Grade Stockpile Indicated Mineral Resource	353.6	0.82	9,337

The Empress – Dreadnought LG Stockpile contains approximately 70% oxide and transition material with the remainder, particularly the Southern – Pre-strip Domain - composed of fresh and partially weathered material.

First campaign toll milling of the Empress - Dreadnought LG stockpile was completed in the December Quarter 2022. Reporting the Mineral Resource vs Milling data provides the following positive reconciliation:

Description	Tonnage (t)	Au Grade (g/t)	Au Contained Oz
Mined material reported from the Mineral Resource Estimate	127,611	0.84	3,433
Toll MillingReported Material with headgrade	129,389	0.87	3,620
Toll Millingdifference to Mineral Resource Estimate	1,778	0.03	187
Toll Milling% difference to Mineral Resource Estimate	+1%	+4%	+5%
Remnant material reported from the Mineral Resource Estimate after 2022 toll milling comprising 129,389t	224,211	0.81	5,839

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Additional toll milling of the Empress - Dreadnought LG stockpile was completed in the June Quarter 2023. Reporting the Mineral Resource versus Milling data provides the following reconciliation:

Description	Tonnage (t)	Au Grade (g/t)	Au Contained Oz
Mined material reported from the Mineral Resource estimate	53,588	0.81	1,447
Toll MillingReported Material	55,763	0.81	1,450
Toll Millingdifference to Mineral Resource Estimate	2,175	0.00	3
Toll Milling% difference to Mineral Resource Estimate	+4.1%	+0%	+0.2%
Remnant material reported from the Mineral Resource estimate after 2023 toll milling comprising 55,763t	168,448	0.81	4,387

Based on two toll milling campaigns comprising 185,152t the Mineral Resource estimate for the Empress - Dreadnought Low Grade Stockpile remains robust. It is anticipated the remaining Empress - Dreadnought Low Grade Stockpile will be processed in the second half of 2023 as the Three Mile Hill Mill comes online.

Empress – Dreadnought LG Stockpile Metallurgy

A bulk composite metallurgical sample was tested at ALS using Perth water under conditions that simulate processing at Three Mile Hill Mill.

Flowsheet:

Control Crush <3.35mm
Homogenise and split into 1kg samples
Head Assay Au (dup), Ag (LDL), As, C(ORG) C(TOT), Cu, Hg, Sb, S(TOT), S(-2), Te, ME ICP SCAN
Grind P80: 106 micron
Gravity Separation (Knelson) - Knelson Tail (Intensive Leach) - Assay: Au
Gravity Tail Direct Cyanidation – Bottle Roll Test
40% Solids (w/w) with tap water
pH 9 (Lime), Maintain >9
NACN: (0.035% (W/V) – Maintain >0.03% (W/V)
Oxygen sparge, 20ppm - maintain > 10ppm
Monitor pH, DO, NaCN
Duration 24 hrs
Sampling & Reagent checks @ 2, 4, 6, 8, 24 – Analyse solutions for Au
Leach residue – Analyse Au (Duplicate)

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The two new representative samples have delivered strong results:

High gravity gold recovery at 54.1%,
Fast leach recovery majority leach in 6 hours and,
High extraction of 97%.

Toll milling of the Empress – Dreadought LG stockpile completed during the December Qtr 2022 indicates recovery ranges between 88.1 and 98% with weighted average of 95.6%.

Location and Past Production

Dreadnought and the Empress Open Pits were last mined in mid-2013. Dreadnought has been mined in stages. The most recent phase was completed as a 65m deep pit by Focus between June 2011 and July 2013. Reported mining at Dreadnought during this period comprises: 878 Kt @ 1.35 g/t (diluted) for 38.2Koz.

Company	Years	Tonnes	Grade g/t	Ounces
Nimbus Report	1890'S - 1980	2,151	28.7	2,000
A-Cap Historic Mining	1980-1987	70,575	1.82	4,130
Focus Minerals	2011-2013	878,158	1.35	38,220
TOTAL		*950,884*	*1.45*	*44,350*

Production records for mining at Dreadnought between 2011 and 2013 comprise:

Material type	Tonnes Grade Ounces	% Tonnes
HG ROM	479,958.8 1.96 30,218	54.7%
MG ROM	19,362.9 0.9 539	2.2%
LG ROM	6,593.4 0.63 133	0.8%
LG SP	372,243.7 0.61 7330	42.4%
Total	878,158.8 1.35 38,220
Milled	505,915.0 1.90 30,890	57.6%

This period of mining was challenging as a result of:

changes in Mineral Resource estimation,
changes in grade control methods,
selective mining practices targeting higher grade mill feed
changes in mining personnel

Low grade material from Dreadnought is deposited in two stockpiles adjacent to the Empress - Dreadnought waste dump. The majority of the Dreadnought low grade material has been deposited into the Empress – Dreadnought Low Grade Stockpile immediately east of the Empress - Dreadnought waste dump (Figure 2). According to production records the material in this dump comprises:

Material type	Tonnes Diluted Grade g/t Ounces	% Tonnes
LG Empress	123,681 0.64 2,545	28%
LG Dreadnought	321,259 0.61 6,330	72%
Total	444,940 0.62 8,875	100%

The actual tonnage of the Empress Dreadnought LG Stockpile has been refined via reconciliation of 2022 toll milling survey pickup and comparison with trucking and milling figures. The reported pre mining Mineral Resource estimate contains 353.6Kt vs mine records indicating 444.9Kt (91.4Kt less or 20.5% fewer tonnes). This 2011-2013 mining tonnes overcall is likely caused by issues with applied

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density and material movement reconciliation. Furthermore, 2022 grade control drilling on the Empress – Dreadnought LG Stockpile and follow up toll milling confirm the grade of this stockpile has been under called by about 40%.

Additional mainly fresh and transitional Dreadnought low grade material is deposited in a stockpile immediately south of the Empress- Dreadnought waste dump (Figure 2). According to production records this stockpile comprises:

Material type	Tonnes Diluted Grade g/t Ounces	% Tonnes
LG Dreadnought	50,984 0.61 1,000	100%

In the June Quarter 2023 Focus completed 89 RC grade control holes for 280m drilling over the southern 100% Dreadnought LG stockpile area. Material recovery for this program was good however, returned grades are patchy and mainly sub-economic. A small portion of this 51Kt LG stockpile may be recoverable, however no mineral resource estimate has been completed at this stage.

Summary Geology and Structure

Dreadnought is hosted by diorite and feldspar – hornblende porphyry intrusions in the Brilliant Ultramafic. This is the same geology hosting the Tindals – Empress mine complex. Mineralisation at Dreadnought is more complex and required detailed modelling. The complexity at Dreadnought is related to:

Structural offsets,
Structural intersections
Changes in orientation across faults
Changes in structural style in different parts of the Mineral Resource

To deal with this complexity the Mineral Resource has been divided into 8 domains.

Domain 1 Triangular shaped domain in the southern part of the system. Mineralisation is hosted by stacked moderate north dipping diorite intrusions. Within the diorite and contacts, eight stacked, low to medium grade lodes dip at ~40° to the north. This domain is truncated on its west side by the NE striking Dreadnought Fault (Domain 3 - fault zone and quartz veins) and on its east side by a sub vertical diorite dyke and associated high grade veining striking to the north (Domain 2)

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Figure 7: View looking down and to the north highlighting block model centoids for Lodes 1 to 7 within Domain 1 which dip at ~40° to the north. The Block model is coloured by Au g/t as per the inset legend.

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Domain 2 Mineralisation in the southeast part of the system is hosted by sub vertical 84° towards 250° dipping high grade veins and diorite dykes. Domain 2 truncates the eastern side of Domain 1. Domain 2 is truncated to the north by Domain 3 (Dreadnought Fault).

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Figure 8: Plan view highlighting block model centoids for Lodes 9 to 11 within Domain 2 which dip at 84° towards 250°. The Block model is coloured by Au g/t as per the inset legend.

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Figure 9: View to West of 10m width long section of Lodes 9 to 11 within Domain 2 which dip at 84° towards 250°. The Block model cut at 0.6 g/t is coloured by Au g/t as per the inset legend. Drilling assays cut at 0.6 g/t are shown coloured as per inset legend. Traces of all drilling are marked.

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Domain 3 Mineralisation in the south-central part of the system hosted by sub vertical, 87° towards 123° dipping Dreadnought Fault and quartz veins striking north east. This domain truncates Domains 1 and 2. Furthermore, Domian 3 separates the north and south parts of the Dreadnought system mined by the FML open pit 2011 – 2013.

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Figure 10: Plan view highlighting block model centroids for Dreadnought Fault Lode 500 within Domain 3 with dip at 87° towards 123°. The block model centroids are coloured by Au g/t as per the inset legend.

Domain 4 Mineralisation from 60m depth in the central eastern part of the system hosted by a thick diorite unit likely to be the northern block of Domain 1 rotated by the cross-cutting Dreadnought Fault. The mineralisation in this domain is thicker and higher grade in general with orientation dipping at 33° towards 330°. The western margin of Domain 4 abuts Domain 5 which trends north north-east. The mineralisation hosted by Domain 4 plunges under the eastern highwall of the open pit.

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Figure 11: View looking down and to the north highlighting block model centroids for bulk lode 50 within Domain 4 which starts at 62m depth and has general orientation of 33° dip towards 330°. The block model is coloured by Au g/t as per the inset legend.

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Domain 5 Mineralisation in the central northern part of the system hosted by a series of sub parallel 75° towards 280° diorite dykes which are crosscut by a series of sub parallel porphyry dykes with orientation 75° towards 310°. Both sets of structures are mineralised with narrow mineralisation appearing to thicken at intersections.

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Figure 12: View looking down and to the north highlighting block model centroids for lodes within Domain 5 which comprise sub-parallel diorite dyke hosted mineralisation with orientation 75° dip towards 280° and cross cutting porphyry hosted mineralisation with orientation 75° dip towards 310°. The block model is coloured by Au g/t as per the inset legend.

Domain 6 Mineralisation in the western northern part of the system hosted by a series of sub parallel 75° towards 245° porphyry dykes.

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Figure 13: View looking down and to the north highlighting block model centroids for stacked porphyry hosted lodes 13 to 21 within Domain 6 with orientation of 75° dip towards 245°. The block model is coloured by Au g/t as per the inset legend.

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Domain 7 Mineralisation extending north northwest away from the Dreadnought Open Pit. This mineralisation is diorite hosted and associated with deeper weathering than the main Dreadnought Open Pit area. The mineralisation has a general orientation of 70° towards 302°. This domain hosts significant higher-grade mineralisation and despite extending to near surface has not been targeted by open pit extraction. The northern part of Domain 7 appears to be truncated by the steeply north north-west dipping Terminator Fault.

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Figure 14: View looking down and to the northwest (towards 305) highlighting block model centroids for stacked diorite hosted lodes 22 to 24 within Domain 7 with orientation of 70° dip towards 302°. The block model is coloured by Au g/t as per the inset legend.

Domain 8 Mineralisation extending north northwest away from the Dreadnought pit. This mineralisation is diorite hosted and associated with deeper weathering than the main Dreadnought Open Pit area. The mineralisation has a general orientation of 76° towards 335°. This domain hosts significant higher-grade mineralisation and despite extending to near surface has not been targeted by open pit extraction.

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Figure 15: View looking down and to the northwest highlighting block model centroids for stacked diorite hosted lodes 25 to 27 within Domain 8 with orientation of 76° dip towards 335°. The block model is coloured by Au g/t as per the inset legend.

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The release of this ASX announcement was authorised by

Mr Wanghong Yang, Executive Chairman of Focus Minerals Ltd.

For further information please contact:

For media and investor enquiries please contact:

Alex Aaltonen Nicholas Ong General Manager Exploration Company Secretary Focus Minerals Ltd. Focus Minerals Ltd. Phone: +61 8 9215 7888 Phone: +61 8 9215 7888 Email: [email protected] Email: [email protected]

About Focus Minerals Limited (ASX: FML)

Focus Minerals is Western Australia’s newest gold producer and focused on delivering shareholder value from its 100%-owned Coolgardie Gold Operation and Laverton Gold Project, in Western Australia’s Goldfields.

Focus is committed to delivering shareholder value from the Coolgardie Gold Operation, a 138km[2] tenement holding that includes a 1.2Mtpa processing plant at Three Mile Hill, with commencement of mining activities in mid2023. A new Life of Mine plan with 7-year production for 402,000oz of gold was announced to the ASX on 24 October 2022.

The Laverton Gold Project covers 362km[2] area of highly prospective ground that includes the historic Lancefield and Chatterbox Trend mines. Focus’ priority target is to confirm sufficient gold mineralisation at the Beasley Shear Zone, Lancefield-Wedge Thrust, Karridale and Burtville to support a Stage 1 production restart at Laverton. In parallel, Focus is working to advance key Laverton resource growth targets including Sickle, Ida-H and Burtville South. Focus has delivered first results from a progressive Pre-Feasibility Study (Pre-Tax NPV5.0% A$132M) and is advancing study work utilising Laverton’s expanded Mineral Resource position.

Competent Person Statement

The information in this announcement that relates to Exploration Results is based on information compiled by Mr Alex Aaltonen, who is a Member of the Australasian Institute of Mining and Metallurgy (AusIMM). Mr Aaltonen is an employee of Focus Minerals Limited. Mr Aaltonen has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.

The Mineral Resource estimates were undertaken by Ms Hannah Kosovich, an employee of Focus Minerals. Ms Hannah Kosovich is a member of Australian Institute of Geoscientists and has sufficient experience to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.

Mr Aaltonen and Ms Hannah Kosovich consent to the inclusion in the report of the matters based on the information in the form and context in which it appears.

ASX Listing Rule 5.19.2

Dreadnought Open Pit and the Empress - Dreadnought LG Stockpile Mineral Resources were not included in the Coolgardie LOM plan dated 24 October 2022. Therefore, the material assumptions underpinning the production target, or the forecast financial information derived from the LOM plan continue to apply and have not materially changed.

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JORC Code, 2012 Edition – Table 1

Section 1 Sampling Techniques and Data

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

Criteria	Explanation
Sampling techniques	• The information of sampling techniques below applies to the drill holes drilled by Focus Minerals (FML). • RC percussion drill chips were collected through a cyclone and cone or riffle splitter. Samples were collected on a 1m basis to achieve a sample weight of approximately 3kg. The splitter was levelled at the beginning of each hole using a bullseye level. The spoils were collected at 1m intervals and either placed directly on the ground or collected in large “green bags”. • FML also collected composite samples by grab sampling the 1m spoils and the corresponding 1m samples collected off the drill rig were submitted if the composite returned an assay >0.2ppm Au. • FML diamond core was drilled at NQ2 core size and ½ core sampled. • A-Cap collected samples off the rig cyclone in 1m intervals that were riffle split into a sealed small, numbered bag for analysis. • Nimbus Resources NL riffle split 1m samples when dry and spear sampled when wet. Outside of known mineralisation zones 4m composite samples were submitted and 1m sample intervals submitted for composite values returned > 0.2g/t Au. • New Hampton Goldfields Ltd (New Hampton) also took 4m composites and 1m riffle split samples. Composite samples were re-submitted as 1m intervals where results returned >0.2g/t Au. • South Kal Mines Pty Ltd collected 1m samples and also 4m composites that were initially submitted for analysis. Where composite samples returned >0.2g/t the corresponding 1m splits were submitted.
Drilling techniques	• All FML drilling was completed using a Reverse Circulation (RC) face sampling hammer with booster auxiliary or by NQ2 sized diamond drill bit. • EHGM drilling was by RC methods with 1 diamond tail added to the end of an RC hole. • A-Cap holes were predominantly drilled by an RC face sampling hammer rig. • Nimbus drilled RC samples using an RC rig with 5 ¾ inch diameter drill bit and a booster compressor to counter the hard ground conditions. • New Hampton drilled RC samples with a booster compressor at 5 ¾ inch diameter. • South Kal drilled RC samples with an auxiliary compressor.
Drill sample recovery	• FML Sample recovery was recorded by a visual estimate during the logging process. • All RC samples were drilled dry whenever possible to maximize recovery, with water injection on the outside return to minimise dust. • Historic sample recovery is poorly recorded.
Logging	• FML RC samples were geologically logged to record weathering, regolith, rock type, colour, alteration, mineralisation, structure and texture and any other notable features that are present. • The logging information was transferred into the company’s drilling database once the log was complete. • Logging was qualitative, however the geologists often recorded quantitative mineral percentage ranges for the sulphide minerals present. • The entire length of all holes is logged. • RC chips were washed and stored in chip trays, while diamond core was orientated and photographed prior to being ½ core sampled with remaining core stored at the TMH coreyard.

Page 19 of 41

	• Historic RC holes have been logged at 1m intervals to record weathering, regolith, rock type, colour, alteration, mineralisation, structure and texture and any other notable features that are present.
Sub-sampling techniques and sample preparation	• FML RC samples were drilled dry to maximise recovery where possible. The use of a booster and auxiliary compressor provide dry sample for depths below the water table. Sample condition was recorded (wet, dry, or damp) at the time of sampling and recorded in the database. • FML utilised various laboratories over the years, Amdel Laboratories, KAL Assay, ALS and Jinning Laboratory. However, the sample preparation remained the same. Samples were collected in a pre-numbered calico bag bearing a unique sample ID. At the assay laboratory all samples were oven dried, crushed to a nominal 10mm using a jaw crusher (core samples only) and weighed. Samples in excess of 3kg in weight were riffle split to achieve a maximum 3kg sample weight before being pulverized to 90% passing 75μm. • FML samples were analysed by 30g to 50g Fire Assay for individual samples with an ICP-OES or AAS Finish. • The assay laboratories’ sample preparation procedures follow industry best practice, with techniques and practices that are appropriate for this style of mineralisation. Pulp duplicates were taken at the pulverising stage and selective repeats conducted at the laboratories’ discretion. • Regular reviews of the sampling were carried out by the supervising geologist and senior field staff, to ensure all procedures were followed and best industry practice carried out. • The sample sizes are considered to be appropriate for the type, style and consistency of mineralisation encountered during this phase of exploration. • A-Cap submitted its RC samples to Genalysis Laboratories for fire assay analysis by FA50 method, following mixer mill preparation. • Nimbus submitted samples to Amdel laboratory for a 50g Fire Assay. • New Hampton submitted samples to Amdel laboratories for a fire assay with AAS finish to a 10ppb detection limit. • South Kal submitted samples to Amdel for a 40g Fire Assay with an AAS finish.
Quality of assay data and laboratory tests	• The assay method and laboratory procedures were appropriate for this style of mineralisation. The fire assay technique was designed to measure total gold in the sample. • No geophysical tools, spectrometers or handheld XRF instruments were used. • FML QAQC checks involved inserting a standard or blank every 10 to 20 samples in RC or diamond core and taking a field duplicate every 20 samples in RC. Field duplicates were collected from the cone splitter on the rig. A minimum of 1 standard was inserted for every sample batch submitted. • All results from assay standards and duplicates were scrutinised to ensure they fell within acceptable tolerances. • In November 2004 test work comparing results from fire assay versus leachwell methods was conducted using the 1m residues from the earlier 2004 drill program to investigate the possibility of a coarse gold issue. Results showed significant proportion of the grade was from the coarse fraction and as such results varied between the FA and leachwell results. • A-Cap used field duplicates, laboratory repeats and standards as QAQC checks. • Nimbus used a check screen fire assay. • New Hampton and South Kal do not list QAQC practices.
Verification of sampling and assaying	• Significant intervals were visually inspected by company geologists to correlate assay results to logged mineralisation. Consultants were not used for this process. • Primary data is sent in digital format to the company’s Database Administrator (DBA) as often as was practicable. The DBA imports the data into an acQuire database, with assay results merged into the database upon receipt from the laboratory. Once loaded, data was extracted for verification by the geologist in charge of theproject.

Market Announcement | Page 20 of 41

	• No adjustments were made to any current or historic data. If data could not be validated to a reasonable level of certainty it was not used in any resource estimations.
Location of data points	• FML drill collars were surveyed after completion, using a DGPS instrument. Holes were open hole surveyed upon completion of drilling using an electronic multi-shot camera or north-seeking gyroscope tool whilst drilling was in progress. • FML short RC grade control holes drilled in 2022 on the low-grade stockpile were not downhole surveyed. • FML 2023 resource development holes at Dreadnought open pit were down hole surveyed using a north seeking gyro. • FML 2023 short vertical RC grade control holes targeting Dreadnought stockpiles and tails were not downhole surveyed given average depth approximated less than 3m. • All coordinates and bearings use the MGA94 Zone 51 grid system. • FML utilises Landgate sourced regional topographic maps and contours as well as internally produced survey pick-ups produced by the mining survey teams utilising DGPS base station instruments. • A-Cap have not stated surveying methods. • Nimbus used a licensed surveyor to capture the drill collar locations and holes were down hole surveyed using a Gyro-Probe gyroscopic down hole instrument. • New Hampton used a licensed surveyor to locate the drill collar locations, holes were down hole surveyed using a Gyro-Probe gyroscopic down hole instrument. • South Kal used Wheelans Surveyors Kalgoorlie to pick up drill collars using a DGPS and Surtron of Kalgoorlie to down hole survey the holes using an in-rod gyroscope.
Data spacing and distribution	• Within the existing Dreadnought Open Pit, close spaced, 10m x 10m grid drill pattern exists. Outside of the main pit it extends to 20m x 20m following known mineralisation trends. • On top of the low-grade stockpile drill spacing is approximately 10m x 10m.
Orientation of data in relation to geological structure	• Drilling was designed based on known geological models, field mapping, verified historical data and cross-sectional interpretation. • Drill holes were oriented at right angles to strike of the main deposit, however given the differing nature of the Dreadnought mineralisation orientation not all holes were orientated to best delineate the geology. • A mixture of vertical and angled holes was drilled on the low-grade Stockpile to give best coverage with available drilling positions. • 2023 stockpile and tails grade control drilling only used vertical oriented RC holes
Sample security	• All samples were reconciled against the sample submission with any omissions or variations reported to FML. • All samples were bagged in a tied numbered calico bag, grouped into green plastic bags. The bags were placed into cages with a sample submission sheet and delivered directly from site to the Kalgoorlie laboratories by FML personnel. • Historic sample security is not recorded.
Audits or reviews	• A review of sampling techniques was carried out by rOREdata Pty Ltd in late 2013 as part of a database amalgamation project. Their only recommendation was to change the QA/QC intervals to bring them into line with the FML Laverton system, which uses the same frequency of standards and duplicates but has them inserted at different points within the numbering sequence.

Market Announcement | Page 21 of 41

Section 2 Reporting of Exploration Results

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

Criteria		Explanation	Explanation	Explanation	Explanation
Mineral tenement and land tenure status		• All exploration was conducted on tenements 100% owned by Focus Minerals Limited or its subsidiary companies Focus Operations Pty Ltd. All tenements are in good standing. • The Malinyu Ghoorlie 2017 Claim cover the majority of the Coolgardie tenure. At this stage no Coolgardie claims have progressed to determined status.
Exploration done by other parties		• Dreadnought has been historically mined by underground shafts and drives. Figures indicate 2,000 ounces of gold was recovered from 2,150 tonnes mined at a grade of 28.7g/t Au. • More recent open pit mining by A-Cap in the 1980s recorded production figures of 70,575t @ 1.82g/t Au for 4,130 ounces. • FML commenced Dreadnought Open Pit mining operations in June 2011 through until the site was placed on care and maintenance in July 2013. Production figures for this period comprise: • ROM Ore delivered 505,915 t @ 1.9 g/t for 30,890 oz • Empress- Dreadnought LG stockpile 321259 t @ 0.61 g/t for 6,330 oz • Dreadnought LG South Stockpile 50,984 t @ 0.61 g/t for 1,000oz. • Other exploration works carried out consisted of mapping, soil sampling, RAB, RC and Diamond drilling, aerial surveys, ground magnetics
Geology		• Regionally the deposit is located on the western margin of the Archaean Norseman – Menzies Greenstone Belt. The province is sub-divided into three Terranes, with Dreadnought occurring within the Kalgoorlie Terrane and further sub-divided into the Coolgardie Domain. The dominant rock types throughout the Coolgardie Domain are mafic to ultramafic volcanic rocks overlain by a thick succession of felsic volcanic and volcaniclastic rocks which in turn are intruded by a suite of felsic to intermediate porphyries and differentiated to undifferentiated dolerites and gabbros. • Structurally the N-S Redemption Fault corridor, a major structure in the Coolgardie region and associated with other mineralised deposits, runs directly to the west of the Dreadnought deposit. Within the deposit a NW trending fault crosscuts the entire deposit separating it into southern and northern zones of mineralisation. • This crosscutting fault is known as the Dreadnought Lode and was the main host of mineralisation targeted by early mining companies. • Mineralisation is also present within the diorite intrusions and is associated with minor quartz veining, silicification and base metal sulphides.
Drill hole Information	•	Historic drilling information has been validated against publicly available WAMEX reports. Company Drill Hole Number WAMEX Report A- Number WAMEX Report Date GEM DRC11, DRC13, DRC14, DRC15, DRC16, DRC17, DRC18, DRC19, DRC20, DRC21, DRC22, DRC23, DRC24, DRC25, DRC27, DRC28, DRC29, DRC30, DRC31, DRC32, DRC36, DRC37,DRC38,DRC40 23580 Jan-88 NIMBUS 8240-1, 8240-2, 8280-2, 8280-3, 8280-5, 8280-6, 8320- 1, 8320-1B, 8320-3, 8320-4, 8360-1, 8360-2, 8360-4, 8360-5, 8400-1, 8400-2, 8400-3, 8400-4, 8440-1, 8440- 2, 8440-3, 8440-4, 8440-5, 8480-1, 8480-2, 8480-3, 8520-1,8520-2 52738 Aug-97 8460-3, 8500-2, 8620-1, 8660-2, 8700-1, 8740-2, 1998, RC, 8420-1, 8420-2, 8420-3, 8480-5, 8680-8, 8700-4, 8740-3, 8740-5, 8760-1, 8760-2, 8740-4, 8440-7, 8440- 9, 8460-2, 8460-4, 8520-3, 8520-4, 8540-2, 8560-2, 8580-1, 8280-1, 8280-4, 8320-2, 8360-3, 8480-4, 8500- 1, 8600-2, 8620-2, 8640-2, 8640-3, 8660-1, 8660-3, 8680-4, 8680-7, 8700-2, 8700-3, 8720-3, 8720-4, 8720- 5, 8400-5, 8440-10, 8460-5, 8480-1A, 8500-4, 8600-1, 8640-1,8680-1,8720-1,8740-1 56811 Sep-98
		Company	Drill Hole Number	WAMEX Report A- Number	WAMEX Report Date
		GEM	DRC11, DRC13, DRC14, DRC15, DRC16, DRC17, DRC18, DRC19, DRC20, DRC21, DRC22, DRC23, DRC24, DRC25, DRC27, DRC28, DRC29, DRC30, DRC31, DRC32, DRC36, DRC37,DRC38,DRC40	23580	Jan-88
		NIMBUS	8240-1, 8240-2, 8280-2, 8280-3, 8280-5, 8280-6, 8320- 1, 8320-1B, 8320-3, 8320-4, 8360-1, 8360-2, 8360-4, 8360-5, 8400-1, 8400-2, 8400-3, 8400-4, 8440-1, 8440- 2, 8440-3, 8440-4, 8440-5, 8480-1, 8480-2, 8480-3, 8520-1,8520-2	52738	Aug-97
			8460-3, 8500-2, 8620-1, 8660-2, 8700-1, 8740-2, 1998, RC, 8420-1, 8420-2, 8420-3, 8480-5, 8680-8, 8700-4, 8740-3, 8740-5, 8760-1, 8760-2, 8740-4, 8440-7, 8440- 9, 8460-2, 8460-4, 8520-3, 8520-4, 8540-2, 8560-2, 8580-1, 8280-1, 8280-4, 8320-2, 8360-3, 8480-4, 8500- 1, 8600-2, 8620-2, 8640-2, 8640-3, 8660-1, 8660-3, 8680-4, 8680-7, 8700-2, 8700-3, 8720-3, 8720-4, 8720- 5, 8400-5, 8440-10, 8460-5, 8480-1A, 8500-4, 8600-1, 8640-1,8680-1,8720-1,8740-1	56811	Sep-98

Market Announcement | Page 22 of 41

GOLDFAN	TNG1648-RD	TNG1648-RD	TNG1648-RD	TNG1648-RD	TNG1648-RD	60899	60899	Jan-99
NEW HAMPTON	8260-1, 8260-2, 8260-3, 8260-4, 8260-6, 8280-8, 8300- 1, 8300-2, 8300-3, 8300-4, 8340-1, 8340-2, 8340-3, 8340-5, 8380-2, 8380-5, 8380-6, 8380-7, 8380-8, 8400- 9,8440-11,8500-3,8560-5,8760-3					61565		Nov-00
SOUTH KAL MINES	8500-6, 8560-4, 8380-10, 8480-6, 8760-4, 8660-4, 8500-5, 8520-5, 8580-2, 8620-3, 8640-4, 8720-12, 8520-7,8560-6,8580-3,8600-4,8600-5,8740-6					68208		Nov-03
Hole ID			MGA 94 Zone 51				Depth (m)
		Easting	Northing	RL	Azimuth	Dip
8340-4		325440.6	6569390	411.776	270	60	150
8460-1		325214	6569505	414.408	90	60	137
8540-1		325448.5	6569579	349.498	90	60	125
8560-3		325159	6569605	415.142	90	60	60
8580-4		325122	6569625	345.531	90	60	161
8600-1		325259.9	6569647	414.799	90	60	107
8620-4		325235.9	6569665	351.874	90	60	120
8640-1		325279.4	6569688	381.481	90	60	100
8640-5		325237.1	6569686	348.55	90	60	143
8640-6		325225.6	6569681	298.405	90	60	180
8680-1		325280.7	6569727	410.917	90	60	100
8680-2		325338.6	6569729	382.448	90	60	100
8700-9		325253.3	6569744	330.450	90	60	174
8720-1		325299.6	6569766	410.558	90	60	100
8720-13		325255.9	6569762	327.764	90	60	180
8740-1		325302.2	6569788	396.553	90	60	107
8740-8		325301.3	6569793	395.19	120	90	228
8760-5		325377	6569800	416.793	90	60	60
• Focus drilling information available WAMEX reports.
Company	Drill Hole Number					WAMEX Report A- Number		WAMEX Report Date
FOCUS	D8500-7, D8560-7, D8560-8, D8580-10, D8580-5, D8580-6, D8580-7, D8580-8, D8620-5, D8622-1, D8660-6, D8680-10, D8700-10, D8700-11, D8600-7, D8620-6, D8620-7, D8630-1, D8640-7, D8640-8, D8660-7, D8680-11, D8700-12, D8740-10, D8740-11, D8740-12,D8740-13,D8740-9,D8760-5,D8760-6					71430		Nov-05
	05DNC001, 05DNC002, 05DNC004, 05DNC005, 05DNC006, 05DNC007, 05DNC009, 05DNC010, 05DNC011, 05DNC013, 05DND001, 05DND002, 05DND003, 05DND004, 05DND005, 05DND006, 06DNC014, 06DNC015, 06DNC016, 06DNC017, 06DNC018, 06DND007, 06DND008, 06DND009, 06DND011, 06DND012, 06DND013, 06DND014, 06DND015					73771		Nov-06
	TNDC0155, TNDC0156, TNDC0157, TNDC0158, TNDC0159,TNDC0160					85889		Feb-10
	TNDD0009, TNDD0010, TNDD0011, TNDC0264					89322		Feb-11

Market Announcement | Page 23 of 41

	DND001, DND002, DNC462, DNC463, DNC464, DNC465, DNC466, DNC468, DNC469, DNC485, DNC486, DNC487, DNC488, DNC489, DNC490, DNC491, DNC496, DNC497, DNC498, DNC499, DNC500, DNC501, DNC502, DNC503, DNC504, DNC505, DNC506, DNC507, DNC508, DNC509, DNC510, DNC511, DNC512, DNC513, DNC514, DNC515, DNC516, DNC517, DNC518, DNC519, DNC520, DNC521, DNC522, DNC523, DNC524, DNC525, DNC528, DNC529, DNC530, DNC531, DNC532, DNC533, DNC534, DNC535, DNC536, DNC537, DNC538, DNC544, DNC545, DNC546, DNC547, DNC548, DNC549, DNC550, DNC551, DNC552, DNC553, DNC554, DNC555, DNC556, DNC557, DNC558, DNC559, DNC560, DNC567, DNC568, DNC569, DNC579, DNC591, DNC592, DNC593, DNC594, DNC595, DNC596, DNC597, DNC598, DNC599, DNC600, DNC601, DNC602, DNC603, DNC604, DNC606, DNC607, DNC608, DNC609, DNC610, DNC611, DNC612, DNC613, DNC616, DNC617, DNC619, DNC620, DNC624, DNC625, DNC631, DNC632, DNC633, DNC635, DNC637, DNC638, DNC639, DNC640, DNC641, DNC642, DNC643, DNC644, DNC645, DNC646, DNC647, DNC648, DNC649, DNC650, DNC651, DNC652, DNC653, DNC654, DNC655, DNC656, DNC657, DNC658, DNC661, DNC662, DNC663, DNC664, DNC665, DNC666, DNC667, DNC674, DNC675, DNC676, DNC677, DNC678, DNC679, DNC680,DNC681,DNC682	92766	Feb-12

Company	Drill Hole Number	WAMEX Report A- Number	WAMEX Report Date
Focus	DDN004, DDN005, DDN006, DDN006A, RC, DNC683, DNC684, DNC685, DNC686, DNC687, DNC688, DNC689, DNC690, DNC691B, DNC692, DNC693, DNC694, DNC695, DNC696, DNC697, DNC698, DNC699, DNC700, DNC701, DNC702, DNC703, DNC704, DNC705, DNC706, DNC707, DNC708, DNC709, DNC710, DNC711, DNC712, DNC713, DNC714, DNC715, DNC716, DNC717, DNC718, DNC719, DNC720, DNC721, DNC722, DNC723, DNC724, DNC725, DNC726, DNC727, DNC728, DNC729, DNC730, DNC731, DNC732, DNC733, DNC734, DNC735, DNC736, DNC737, DNC738, DNC739,DNC740,DNC741,DNC742,DNC743,DNC744	96924	Feb-13
	DNC745, DNC746, DNC750, DNC751, DNC752, DNC753, DNC754, DNC755, DNC756, DNC757, DNC758,DNC759,DNC760,DNC762,DNC763,DNC764	101352	Feb-14

Market Announcement | Page 24 of 41

• Focus drilling information NOT available WAMEX reports.	• Focus drilling information NOT available WAMEX reports.	• Focus drilling information NOT available WAMEX reports.	• Focus drilling information NOT available WAMEX reports.	• Focus drilling information NOT available WAMEX reports.		Depth (m) 155 130 160 119 119 120 139 120 129 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30 30
Hole ID		MGA 94 Zone 51				Depth (m)
	Easting	Northing	RL	Azimuth	Dip
06DNC019	325445.6	6569430.2	393.798	265.069	57.03	155
06DNC020	325404.5	6569409.3	418.005	270.639	71.77	130
06DNC021	325322.6	6569447.3	413.468	91.8957	59.67	160
06DNC022	325391.5	6569548.9	355.612	94.36	60.59	119
06DNC023	325379.7	6569468.8	411.766	88.2952	58.15	119
06DNC024	325393.6	6569491.1	380.062	91.899	58.68	120
8680-9	325252.8	6569726.8	351.931	94.407	60.11	139
8700-5	325264.5	6569746.7	365.526	95.65	60.5	120
8720-6	325269.5	6569766.7	354.61	93.36	61.18	129
DNC001	325278.9	6569540.4	408.078	88.04	60	30
DNC002	325286.8	6569540.2	414.301	90.04	60	30
DNC003	325295.6	6569540.3	415.211	87.04	59	30
DNC004	325303.8	6569540	415.497	90.04	60	30
DNC005	325315	6569539.9	415.777	90.04	60	30
DNC006	325254.8	6569520.4	413.457	90.04	60	30
DNC007	325264.6	6569520	414.597	90.04	60	30
DNC008	325274.7	6569519.7	414.817	90.04	60	30
DNC009	325285.2	6569519.5	414.586	85.04	58	30
DNC010	325294.8	6569519.6	414.286	91.04	58	30
DNC013	325326.4	6569519.8	414.626	85.04	58	30
DNC014	325206.1	6569500.3	414.777	90.05	60	30
DNC015	325215.2	6569500.2	414.357	90.05	60	30
DNC018	325252.5	6569500	402.402	90.04	60	30
DNC019	325256.9	6569500.4	412.118	90.04	60	30
DNC020	325264.9	6569500.7	414.427	90.04	60	30
DNC021	325274.2	6569500.2	414.327	90.04	60	30
DNC022	325284.8	6569499.9	414.147	90.04	60	30
DNC025	325312	6569500.3	408.927	90.04	60	30
DNC026	325326.8	6569500.1	414.257	90.04	60	30
DNC027	325195.8	6569480.3	414.627	90.05	60	30
DNC028	325205.1	6569479.9	414.517	90.05	60	30
DNC029	325215.3	6569480	414.257	90.05	60	30
DNC030	325223	6569480.3	414.047	90.05	60	30
DNC031	325234.8	6569480	413.867	90.05	60	30
DNC033	325255.4	6569480	412.927	94.04	60	30
DNC034	325264.6	6569480	413.036	90.04	58	30
DNC035	325274.5	6569480.2	413.086	90.04	58	30
DNC036	325284.6	6569480.2	412.846	92.04	58	30
DNC037	325295.2	6569479.9	411.397	95.04	60	30
DNC038	325304	6569479	410.857	90.04	60	30
DNC040	325325.9	6569480	413.527	90.04	60	30

Market Announcement | Page 25 of 41

DNC041	325196.2	6569460.3	413.951	90.05	60	30
DNC042	325205.6	6569460.2	414.367	90.05	60	30
DNC043	325215.6	6569460.3	414.117	90.05	60	30
DNC044	325225.5	6569460.5	413.707	90.05	60	30
DNC045	325234.9	6569460.3	413.547	90.05	60	30
DNC046	325245.5	6569460.2	413.237	90.05	60	30
DNC047	325254.2	6569460.3	413.867	90.05	60	30
DNC048	325264.7	6569460.3	412.591	88.04	59	30
DNC049	325274.7	6569460.3	412.447	90.04	60	30
DNC050	325284.3	6569460.3	412.758	91.04	62	30
DNC051	325294.5	6569459.9	413.208	90.04	62	30
DNC052	325304.5	6569459.8	413.287	93.04	60	30
DNC053	325314.3	6569459.9	413.667	90.04	60	30
DNC055	325367.7	6569450	400.861	87.04	62	30
DNC056	325369.2	6569450.2	414.247	90.04	60	30
DNC057	325202.7	6569440.1	403.528	90.05	60	30
DNC058	325205.6	6569440	414.527	90.05	60	30
DNC059	325215.6	6569440	414.267	90.05	60	31
DNC060	325225.9	6569440.2	413.877	90.05	60	31
DNC061	325235.6	6569440.3	413.417	90.05	60	30
DNC062	325245.9	6569440.1	413.157	90.05	60	30
DNC063	325255.8	6569440.2	412.827	90.05	60	30
DNC065	325277.3	6569440	408.452	90.04	60	30
DNC066	325284.7	6569439.9	411.257	90.04	60	30
DNC067	325295.5	6569439.7	411.877	90.04	60	30
DNC068	325305.4	6569440.4	412.807	90.04	60	30
DNC069	325314.6	6569440	413.066	92.04	58	30
DNC070	325325.1	6569440.2	413.197	90.04	60	30
DNC071	325235.1	6569419.9	413.607	90.05	60	30
DNC072	325245.8	6569420.7	413.457	90.05	60	30
DNC073	325254.9	6569420.2	413.187	90.05	60	30
DNC075	325274.9	6569420	412.326	90.04	58	30
DNC076	325285.2	6569420.4	410.477	90.04	60	30
DNC077	325295.2	6569420.6	410.337	90.04	60	30
DNC078	325305.3	6569419.9	410.998	91.04	62	30
DNC079	325314.7	6569419.3	412.008	93.04	62	30
DNC080	325324.9	6569419.4	412.587	92.04	60	30
DNC081	325250.3	6569409.7	413.217	90.05	60	30
DNC082	325270.7	6569409.4	412.247	90.04	60	30
DNC083	325282	6569410	408.931	90.04	58	30
DNC084	325290.1	6569410.3	410.267	85.04	60	30
DNC085	325300.8	6569409.9	409.957	90.04	60	30
DNC086	325309.8	6569409.7	409.897	95.04	60	30
DNC087	325318.3	6569409.9	410.267	90.04	60	30

Market Announcement | Page 26 of 41

DNC088	325255.6	6569400.4	413.037	90.05	60	30
DNC089	325265.8	6569399.9	413.247	90.05	60	30
DNC090	325275.9	6569400.1	412.277	90.04	60	30
DNC091	325282.5	6569389.8	389.691	90.04	62	30
DNC092	325282.5	6569390.3	407.823	90.04	62	30
DNC093	325290.7	6569390.2	412.157	93.04	60	30
DNC094	325282.5	6569381	401.19	95.04	62	31
DNC095	325284.5	6569379.6	412.856	95.04	58	30
DNC097	325284.1	6569369.9	405.928	95.04	60	30
DNC098	325289.6	6569370.7	412.827	93.04	60	30
DNC101	325286.3	6569359.7	409.192	95.04	60	30
DNC103	325286.2	6569349.6	402.193	95.04	62	30
DNC106	325361.2	6569370	411.834	90.04	60	30
DNC107	325370.4	6569370.4	413.067	90.04	60	30
DNC108	325380.9	6569370.3	412.967	90.04	60	30
DNC109	325391.2	6569370.1	413.117	90.04	60	30
DNC110	325401.4	6569370.2	413.207	90.04	60	30
DNC111	325410.5	6569370.3	413.287	90.04	60	30
DNC112	325420	6569370.5	413.637	90.04	60	30
DNC113	325428.8	6569370.8	413.136	85.04	58	30
DNC115	325376.3	6569360.4	412.857	90.04	60	30
DNC116	325385.2	6569360.4	412.757	90.04	60	30
DNC117	325395.7	6569360.6	413.077	90.04	60	30
DNC118	325405.4	6569360	412.847	90.04	60	30
DNC119	325415.4	6569360.2	412.977	90.04	60	30
DNC120	325424.7	6569359.8	413.067	90.04	60	30
DNC122	325369.9	6569349.6	412.617	90.04	60	30
DNC123	325378.4	6569353	412.827	90.04	60	30
DNC124	325390.6	6569350.4	412.817	90.04	60	30
DNC125	325410.4	6569350.2	412.797	90.04	60	30
DNC127	325369	6569340	412.567	90.04	60	30
DNC128	325376	6569340.5	412.747	90.04	60	30
DNC129	325385.7	6569339.9	412.597	90.04	60	30
DNC130	325395.7	6569340.2	412.507	90.04	60	30
DNC131	325405.9	6569340.1	412.677	90.04	60	30
DNC132	325415.6	6569340.1	412.027	90.04	60	30
DNC133	325425.1	6569340.4	412.097	90.04	60	30
DNC134	325365.5	6569329.4	412.707	90.04	60	30
DNC135	325369.8	6569330.2	412.778	90.04	62	30
DNC136	325383.6	6569330.6	412.767	90.04	60	30
DNC137	325390.9	6569330.2	412.367	90.04	60	30
DNC138	325400.6	6569329.8	412.317	90.04	60	30
DNC139	325412	6569329.9	412.557	90.04	60	30
DNC140	325421	6569330.1	412.457	90.04	60	30

Market Announcement | Page 27 of 41

DNC141	325420.9	6569330	412.547	90.04	60	30
DNC142	325285.4	6569319.4	411.734	90.05	60	30
DNC143	325294.2	6569319.7	412.128	85.04	62	30
DNC144	325297.7	6569317.1	412.077	90.04	60	30
DNC145	325316	6569317.5	410.397	90.04	60	30
DNC146	325325.6	6569319.6	409.357	90.04	60	30
DNC147	325333.5	6569319.9	409.587	90.04	60	30
DNC148	325344.8	6569320.5	409.767	90.04	60	30
DNC149	325355.4	6569320.3	409.097	90.04	60	30
DNC150	325365.5	6569319.8	412.428	95.04	62	30
DNC151	325374.8	6569320.4	412.597	90.04	60	30
DNC152	325385.7	6569320.3	412.167	90.04	60	30
DNC153	325395.2	6569319.9	411.987	90.04	60	30
DNC154	325405.6	6569320	412.197	90.04	60	30
DNC155	325415.5	6569319.9	412.307	90.04	60	30
DNC156	325425.1	6569319.9	413.357	90.04	60	30
DNC157	325433.4	6569320.9	411.357	90.04	60	30
DNC158	325310.8	6569309.8	411.857	90.04	60	30
DNC159	325321.1	6569309.9	411.117	90.04	60	30
DNC163	325349.6	6569799.7	419.517	91.04	60	30
DNC164	325359.6	6569799.2	420.247	87.04	60	30
DNC165	325368.9	6569799.8	420.947	92.04	60	30
DNC166	325340.2	6569789.8	418.577	91.04	60	30
DNC167	325350.1	6569790	419.191	90.04	59	30
DNC168	325360.5	6569790	420.232	90.04	61	30
DNC169	325370.3	6569790.1	421.036	88.04	58	30
DNC170	325310.2	6569779.8	417.161	90.04	59	30
DNC171	325320.2	6569779.9	417.337	88.04	60	30
DNC172	325330.2	6569779.9	417.621	88.04	59	30
DNC173	325340	6569780.4	418.491	89.04	59	30
DNC175	325360.6	6569780.3	419.707	90.04	60	30
DNC176	325369.9	6569779.6	420.516	92.04	58	30
DNC177	325310	6569769.8	417.021	90.04	59	30
DNC178	325330.7	6569770.4	417.417	88.04	60	30
DNC179	325350.4	6569770.2	418.636	92.04	58	30
DNC180	325295	6569759.6	408.046	92.04	60	30
DNC181	325300.8	6569760.2	416.847	90.04	60	30
DNC183	325320.4	6569759.8	416.817	90.04	60	30
DNC184	325330.4	6569759.8	417.377	90.04	60	30
DNC185	325340.7	6569759.8	417.727	95.04	60	30
DNC186	325292.2	6569750.2	413.889	93.04	59	30
DNC187	325300.2	6569749.5	416.601	90.04	59	30
DNC188	325320.4	6569750.4	417.006	90.04	58	30
DNC190	325279.8	6569739.7	401.999	92.04	58	30

Market Announcement | Page 28 of 41

DNC191	325284.1	6569739.9	409.594	93.04	59	30
DNC192	325289.7	6569739.8	416.267	90.04	60	30
DNC194	325310.4	6569739.5	416.406	91.04	58	30
DNC195	325319.5	6569740.5	416.797	95.04	60	30
DNC196	325277	6569730.1	405.301	94.04	58	30
DNC197	325280.8	6569729.7	415.407	92.04	58	30
DNC198	325300.6	6569729.8	416.686	91.04	58	30
DNC199	325310.3	6569731.2	416.767	90.04	60	30
DNC200	325273.7	6569719.7	410.738	90.04	59	30
DNC201	325280.2	6569720	416.137	90.04	60	30
DNC202	325300.5	6569720.1	416.626	90.04	58	30
DNC203	325310.2	6569720.5	416.746	88.04	58	30
DNC205	325280.5	6569710.2	416.327	89.04	60	30
DNC206	325290.5	6569710.1	416.631	88.04	59	30
DNC207	325300.6	6569710	416.721	90.04	59	30
DNC208	325262.9	6569699.9	411.735	90.04	59	30
DNC209	325270.2	6569699.9	416.286	90.04	58	30
DNC210	325280.5	6569700	416.367	88.04	60	30
DNC211	325290.3	6569700	416.611	89.04	59	30
DNC212	325300.2	6569699.8	416.757	86.04	60	30
DNC213	325270.6	6569689.9	416.106	88.04	58	30
DNC214	325280.1	6569690	416.301	95.04	59	30
DNC215	325289.6	6569689.9	416.376	95.04	58	30
DNC216	325269.8	6569679.8	416.066	94.04	58	30
DNC217	325282.2	6569680.7	416.387	95.04	60	30
DNC218	325289.8	6569680.4	416.466	95.04	58	30
DNC219	325270.6	6569670.3	415.826	90.04	58	30
DNC220	325280.1	6569669.7	415.996	95.04	58	30
DNC221	325290.5	6569670	416.396	94.04	58	30
DNC222	325271.1	6569660.5	415.912	96.04	61	30
DNC223	325280.3	6569659.8	416.187	90.04	60	30
DNC224	325290.7	6569659.8	416.367	88.04	60	30
DNC225	325270.4	6569650	415.907	90.04	60	30
DNC226	325280.6	6569650	416.076	88.04	58	30
DNC227	325260.9	6569639.3	415.766	86.04	58	30
DNC228	325270.7	6569640.1	415.716	85.04	58	30
DNC229	325280.7	6569640	416.016	86.04	58	30
DNC230	325270.5	6569629.5	415.776	88.04	58	30
DNC231	325280.8	6569629.9	416.027	90.04	60	30
DNC232	325290.6	6569629.8	416.307	90.04	60	30
DNC242	325152.7	6569630	413.392	90.04	60	30
DNC243	325161.2	6569629.8	414.924	90.04	60	30
DNC248	325180.2	6569620	414.377	90.04	60	30
DNC251	325214.7	6569619.2	408.178	85.04	60	30

Market Announcement | Page 29 of 41

DNC252	325140.9	6569610	417.318	95.04	62	30
DNC253	325149.2	6569610.5	416.668	95.04	62	30
DNC254	325159.6	6569610.2	417.078	94.04	62	30
DNC255	325171.3	6569609.8	414.657	94.04	60	30
DNC256	325180.4	6569610.2	414.437	94.04	60	30
DNC257	325189.8	6569610	416.276	96.04	58	30
DNC260	325150.6	6569600.2	416.417	94.04	60	30
DNC261	325159.9	6569599.7	416.508	95.04	62	30
DNC262	325171.9	6569600	415.597	95.04	60	30
DNC263	325182.4	6569600.4	413.009	90.04	59	30
DNC276	325186.1	6569560	406.587	92.04	58	30
DNC277	325191.4	6569559.8	413.038	90.04	60	30
DNC278	325200.2	6569560.2	415.397	90.04	60	30
DNC279	325172.3	6569549.9	413.598	85.04	60	30
DNC280	325180.8	6569550	416.046	90.04	58	30
DNC281	325190.7	6569549.9	415.666	86.04	58	30
DNC282	325200.6	6569549.9	415.306	86.04	58	30
DNC284	325190.6	6569539.8	415.437	94.04	60	30
DNC285	325200.6	6569539.9	415.077	95.04	60	30
DNC286	325210.6	6569540	415.017	88.04	60	30
DNC287	325220.1	6569540.1	415.077	92.04	60	30
DNC288	325243.8	6569540.1	390.558	90.04	60	30
DNC289	325251.7	6569540.1	393.918	90.04	60	30
DNC290	325259.3	6569540	397.242	90.04	60	30
DNC291	325266.8	6569540.7	400.696	90.04	60	30
DNC297	325180.4	6569532.9	415.517	89.04	60	30
DNC299	325200.2	6569530.1	414.686	95.04	58	30
DNC300	325210.6	6569530.8	414.787	90.04	60	30
DNC301	325184.4	6569526.5	415.417	80.04	60	30
DNC302	325201.1	6569520.1	414.867	95.04	60	30
DNC303	325210.1	6569520.7	414.507	90.04	60	30
DNC305	325230.2	6569520.7	413.857	96.04	60	30
DNC306	325190.6	6569510.5	415.386	89.04	58	30
DNC307	325200.5	6569510.5	414.747	90.04	60	30
DNC308	325210.3	6569510.6	414.546	90.04	58	30
DNC314	325173.9	6569500.4	393.234	95.04	60	30
DNC315	325177	6569498.8	404.758	89.04	60	30
DNC316	325179.5	6569498.3	415.067	93.04	58	30
DNC317	325190.8	6569500.3	415.561	92.04	59	30
DNC318	325200.1	6569500.4	414.867	90.04	60	30
DNC319	325200.7	6569490	415.747	90.04	60	30
DNC321	325221	6569490.5	414.107	90.04	60	30
DNC323	325245.5	6569491.5	414.757	95.04	60	30
DNC330	325182.9	6569479.9	395.799	91.04	59	30

Market Announcement | Page 30 of 41

DNC338	325191.3	6569460.2	397.25	85.04	60	30
DNC354	325205.1	6569420.2	391.05	90.04	59	30
DNC355	325209.9	6569420.3	400.529	94.04	59	30
DNC356	325212.9	6569420.3	409.895	93.04	58	30
DNC357	325220.6	6569420.4	413.961	89.04	59	30
DNC359	325370.2	6569390	414.567	95.04	60	30
DNC360	325379.5	6569390.2	413.437	94.04	60	30
DNC361	325390.6	6569390.3	413.556	88.04	58	30
DNC362	325421.3	6569390.6	413.264	90.04	60	30
DNC363	325429.5	6569390.4	414.028	90.04	62	30
DNC364	325440.5	6569390.5	413.197	90.04	60	30
DNC365	325449.5	6569390.4	413.707	90.04	60	30
DNC369	325370.6	6569380.5	413.277	95.04	60	30
DNC370	325379.9	6569380.4	413.286	94.04	58	30
DNC371	325390.9	6569380.6	413.196	94.04	58	30
DNC372	325400.9	6569380.3	413.407	90.04	60	30
DNC373	325411.1	6569380.2	413.676	86.04	58	30
DNC374	325420.8	6569381	414.377	85.04	60	30
DNC375	325430.8	6569380.6	413.336	90.04	58	30
DNC377	325279.8	6569310.3	396.626	88.04	60	30
DNC378	325279.7	6569310.6	413.596	85.04	58	30
DNC379	325290.8	6569310.6	412.567	92.04	60	30
DNC380	325300.4	6569311.1	412.087	90.04	60	30
DNC381	325359.4	6569310.2	410.931	85.04	59	30
DNC382	325371.1	6569310.4	411.987	90.04	60	30
DNC383	325380.6	6569310.4	412.007	85.04	60	30
DNC384	325390.5	6569310.6	412.047	89.04	60	30
DNC385	325400.5	6569309.6	411.857	95.04	60	30
DNC386	325411.1	6569310.2	412.217	94.04	60	30
DNC387	325420.5	6569309.8	412.336	92.04	58	30
DNC388	325431.4	6569310	412.227	90.04	60	30
DNC389	325440.1	6569310.1	412.097	90.04	60	30
DNC391	325274.2	6569300.8	394.282	85.04	58	30
DNC392	325273.8	6569300.8	409.695	88.04	58	30
DNC393	325280	6569300.8	413.456	85.04	58	30
DNC394	325288.6	6569300.2	413.337	90.04	60	30
DNC395	325300.1	6569300.6	412.067	90.04	60	30
DNC396	325311.8	6569300.4	409.389	88.04	60	30
DNC397	325321.1	6569300.4	411.577	90.04	60	30
DNC398	325331.3	6569300.3	410.997	90.04	60	30
DNC399	325342.2	6569298.6	411.187	95.04	60	30
DNC400	325350.3	6569300	411.876	88.04	58	30
DNC401	325359.9	6569300.1	411.467	90.04	60	30
DNC405	325295	6569500	408.5	0	90	30

Market Announcement | Page 31 of 41

DNC406	325300	6569500	408.5	0	90	30
DNC407	325295	6569490	408.5	0	90	30
DNC408	325300	6569490	408.5	0	90	30
DNC409	325305	6569490	408.5	0	90	30
DNC410	325350.3	6569329.7	408.391	95.04	59	30
DNC411	325337.6	6569328.5	408.55	0	90	30
DNC412	325326.1	6569327.7	408.76	0	90	30
DNC413	325317.3	6569329.3	408.72	0	90	30
DNC414	325353	6569340.2	407.371	275.04	59	30
DNC415	325353.2	6569340.2	407.3	0	90	30
DNC416	325292.2	6569337.1	405.75	0	90	30
DNC417	325288.7	6569337.9	403.926	85.04	60	30
DNC418	325369.7	6569340.4	412.37	0	90	30
DNC419	325369.4	6569349.5	412.536	275.04	58	30
DNC421	325366.6	6569360.1	412.94	0	90	30
DNC422	325366.3	6569360.2	413.001	275.04	59	30
DNC423	325375.8	6569360.2	412.99	0	90	30
DNC424	325364.4	6569370.4	412.29	0	90	30
DNC425	325361	6569371.1	411.405	270.04	75	30
DNC426	325360	6569390	414.5	0	90	30
DNC427	325370	6569390	413.5	0	90	30
DNC428	325310.7	6569433.4	412.876	95.04	58	30
DNC429	325320.4	6569430.6	413.071	95.04	59	30
DNC430	325330.7	6569426.6	412.976	95.04	58	30
DNC432	325361.2	6569440	388.522	90.04	60	30
DNC433	325380.1	6569460.9	414.717	90.04	60	30
DNC434	325373.9	6569460.3	391.724	90.04	60	30
DNC435	325305.4	6569401.5	409.607	90.04	60	30
DNC436	325300.2	6569390	409.567	90.04	60	30
DNC437	325360.9	6569380.1	411.21	0	90	30
DNC438	325356.8	6569380.9	408.256	270.04	60	30
DNC439	325359.7	6569390	413.571	275.04	59	30
DNC440	325345.2	6569400	413.567	90.04	60	30
DNC441	325350.2	6569400	413.567	90.04	60	30
DNC442	325360.2	6569420	413.567	85.04	60	30
DNC443	325365.3	6569420	413.576	87.04	58	30
DNC444	325380.3	6569440	413.576	91.04	58	30
DNC445	325375.7	6569439.2	408.427	90.04	60	30
DNC446	325395	6569461	412.177	90.04	60	30

Market Announcement | Page 32 of 41

• Drill hole information for the program carried out on the low-grade stockpile are detailed below:	• Drill hole information for the program carried out on the low-grade stockpile are detailed below:	• Drill hole information for the program carried out on the low-grade stockpile are detailed below:	• Drill hole information for the program carried out on the low-grade stockpile are detailed below:	• Drill hole information for the program carried out on the low-grade stockpile are detailed below:	• Drill hole information for the program carried out on the low-grade stockpile are detailed below:	• Drill hole information for the program carried out on the low-grade stockpile are detailed below:	• Drill hole information for the program carried out on the low-grade stockpile are detailed below:
Hole ID	Easting Northing RL (MGA 94 Zone 51)			Dip	Azimuth (MGA94)	EOH (m)	Intersection
Dreadnought LGSP - RC grade control significant Intersections calcul							ated at 0.5g/t Au cut off an up to 3m internal dilution
22DNRC001	325076	6570019	439	-90	0	20	22DNRC001 - 2.00m @ 1.35g/t from 0m for(GxM 3)
							22DNRC001 - [email protected]/t from 7m for(GxM 9)
22DNRC002	325080	6569974	440	-90	0	20	22DNRC002 - [email protected]/t from 0m for(GxM 18)
22DNRC003	325081	6569937	440	-90	0	20	22DNRC003 - [email protected]/t from 0m for(GxM 17)
22DNRC004	325030	6569917	439	-90	0	20	22DNRC004 - 2.00m @ 0.89g/t from 0m for(GxM 2)
							22DNRC004 - 2.00m @ 15.43g/t from 6m for(GxM 31)
							22DNRC004 - [email protected]/t from 12m for(GxM 1)
22DNRC005	325040	6569954	439	-90	0	20	22DNRC005 - [email protected]/t from 2m for(GxM 31)
22DNRC006	325055	6569994	439	-90	0	20	22DNRC006 - [email protected]/t from 2m for(GxM 12)
22DNRC007	325061	6570025	438	-90	0	20	22DNRC007 - [email protected]/t from 0m for(GxM 12)
22DNRC008	325030	6569906	440	-60	227	20	22DNRC008 - [email protected]/t from 8m for(GxM 3)
22DNRC009	325040	6569901	439	-60	182	20	22DNRC009 - [email protected]/t from 10m for(GxM 10)
22DNRC010	325043	6569906	439	-90	0	17	22DNRC010 - 1.00m @ 0.61g/t from 0m for(GxM 1)
							22DNRC010 - [email protected]/t from 8m for(GxM 5)
22DNRC011	325041	6569924	440	-90	0	18	22DNRC011 - 8.00m @ 0.54g/t from 4m for(GxM 4)
							22DNRC011 - [email protected]/t from 16m for(GxM 2)
22DNRC012	325030	6569926	440	-90	0	18	22DNRC012 - 6.00m @ 1.04g/t from 0m for(GxM 6)
							22DNRC012 - [email protected]/t from 10m for(GxM 10)
22DNRC013	325032	6569940	440	-60	0	18	22DNRC013 - [email protected]/t from 2m for(GxM 4)
22DNRC014	325038	6569941	440	-90	0	18	22DNRC014 - 11.00m @ 1g/t from 1m for(GxM 11)
							22DNRC014 - [email protected]/t from 16m for(GxM 1)
22DNRC015	325037	6569954	440	-60	0	18	22DNRC015 - [email protected]/t from 3m for(GxM 7)
22DNRC016	325041	6569966	440	-60	0	19	22DNRC016 - 12.00m @ 0.76g/t from 2m for(GxM 9)
							22DNRC016 - [email protected]/t from 16m for(GxM 1)
22DNRC017	325043	6569980	440	-60	0	22	22DNRC017 - 1.00m @ 0.56g/t from 5m for(GxM 1)
							22DNRC017 - [email protected]/t from 12m for(GxM 1)
22DNRC018	325046	6569976	440	-90	0	18	22DNRC018 - 5.00m @ 1.03g/t from 0m for(GxM 5)
							22DNRC018 - [email protected]/t from 7m for(GxM 6)
22DNRC019	325046	6569991	440	-90	0	19	22DNRC019 - 10.00m @ 1.15g/t from 3m for(GxM 12)
							22DNRC019 - [email protected]/t from 17m for(GxM 2)
22DNRC020	325046	6570001	440	-60	0	20	22DNRC020 - 2.00m @ 1.22g/t from 0m for(GxM 2)
							22DNRC020 - [email protected]/t from 4m for(GxM 14)
22DNRC021	325048	6570010	440	-60	0	19	22DNRC021 - 6.00m @ 0.76g/t from 0m for(GxM 5)
							22DNRC021 - 5.00m @ 0.7g/t from 10m for(GxM 4)
							22DNRC021 - [email protected]/t from 18m for(GxM 1)
22DNRC022	325056	6570011	439	-90	0	18	22DNRC022 - 7.00m @ 0.95g/t from 0m for(GxM 7)
							22DNRC022 - [email protected]/t from 11m for(GxM 3)
22DNRC023	325053	6570019	439	-60	0	20	22DNRC023 - 1.00m @ 0.77g/t from 0m for(GxM 1)
							22DNRC023 - 3.00m @ 1.33g/t from 3m for(GxM 4)
							22DNRC023 - [email protected]/t from 13m for(GxM 4)
22DNRC024	325072	6570037	438	-60	52	20	22DNRC024 - 11.00m @ 0.87g/t from 0m for(GxM 10)
							22DNRC024 - 4.00m@1g/t from 15m for(GxM 4)
22DNRC025	325072	6570029	439	-90	0	20	22DNRC025 - 7.00m @ 0.7g/t from 0m for(GxM 5)
							22DNRC025 - [email protected]/t from 12m for(GxM 1)
22DNRC026	325082	6570026	439	-60	62	26	22DNRC026 - 1.00m @ 0.7g/t from 5m for(GxM 1)
							22DNRC026 - [email protected]/t from 10m for(GxM 4)

Market Announcement | Page 33 of 41

Hole ID
Easting
Northing
RL
Dip
Azimuth
EOH
Intersection
(MGA94)
(m)
22DNRC027 - 1.00m @ 0.52g/t from 1m for(GxM 1)
22DNRC027 - 1.00m @ 0.51g/t from 7m for(GxM 1)
22DNRC027 - 1.00m @ 0.59g/t from 14m for(GxM 1)
22DNRC027 - [email protected]/t from 19m for(GxM 2)
22DNRC028 - 4.00m @ 0.91g/t from 1m for(GxM 4)
22DNRC028 - 3.00m @ 1.37g/t from 6m for(GxM 4)
22DNRC028 - [email protected]/t from 10m for(GxM 7)
22DNRC029 - 5.00m @ 0.63g/t from 1m for(GxM 3)
22DNRC029 - 10.00m@1g/t from 10m for(GxM 10)
22DNRC030 - 4.00m @ 2.34g/t from 0m for(GxM 9)
22DNRC030 - [email protected]/t from 6m for(GxM 17)
22DNRC031 - 1.00m @ 0.7g/t from 0m for(GxM 1)
22DNRC031 - [email protected]/t from 4m for(GxM 14)
22DNRC032
325082
6569984
440
-90
0
18
22DNRC032 - [email protected]/t from 6m for(GxM 7)
22DNRC033 - 3.00m @ 1.31g/t from 3m for(GxM 4)
22DNRC033 - 2.00m @ 1.73g/t from 10m for(GxM 3)
22DNRC033 - 1.00m @ 0.75g/t from 13m for(GxM 1)
22DNRC033 - [email protected]/t from 18m for(GxM 33)
22DNRC034 - 1.00m @ 0.66g/t from 0m for(GxM 1)
22DNRC034 - 2.00m @ 0.97g/t from 5m for(GxM 2)
22DNRC034 - [email protected]/t from 9m for(GxM 10)
22DNRC035 - 6.00m @ 0.84g/t from 2m for(GxM 5)
22DNRC035 - [email protected]/t from 10m for(GxM 7)
22DNRC036 - 8.00m @ 0.69g/t from 0m for(GxM 6)
22DNRC036 - 2.00m @ 2.71g/t from 9m for(GxM 5)
22DNRC036 - 3.00m @ 0.89g/t from 12m for(GxM 3)
22DNRC036 - [email protected]/t from 16m for(GxM 11)
22DNRC037
325086
6569938
440
-90
0
22
22DNRC037 - [email protected]/t from 3m for(GxM 52)
22DNRC038
325084
6569926
440
-60
117
24
22DNRC038 - [email protected]/t from 9m for(GxM 16)
22DNRC039
325082
6569916
440
-60
152
24
22DNRC039 - [email protected]/t from 13m for(GxM 1)
22DNRC039
325082
6569916
440
-60
152
24
22DNRC039 - [email protected]/t from 19m for(GxM 4)
22DNRC040 - 1.00m @ 0.51g/t from 3m for(GxM 1)
22DNRC040 - 1.00m @ 1.51g/t from 6m for(GxM 2)
22DNRC040 - [email protected]/t from 11m for(GxM 3)
22DNRC041 - 1.00m @ 1.01g/t from 4m for(GxM 1)
22DNRC041 - 1.00m @ 0.57g/t from 7m for(GxM 1)
22DNRC041 - 2.00m @ 0.65g/t from 12m for(GxM 1)
22DNRC041 - [email protected]/t from 16m for(GxM 1)
22DNRC042 - 1.00m @ 1.18g/t from 4m for(GxM 1)
22DNRC042 - 1.00m @ 1.09g/t from 7m for(GxM 1)
22DNRC042 - [email protected]/t from 12m for(GxM 2)
22DNRC043 - 1.00m @ 0.78g/t from 0m for(GxM 1)
22DNRC043 - 1.00m @ 1.23g/t from 10m for(GxM 1)
22DNRC043 - [email protected]/t from 17m for(GxM 1)
22DNRC044
325060
6569903
439
-90
0
18
22DNRC044 - [email protected]/t from 9m for(GxM 3)
22DNRC045 - 1.00m @ 0.79g/t from 1m for(GxM 1)
22DNRC045 - [email protected]/t from 9m for(GxM 13)
22DNRC046
325057
6569930
440
-90
0
18
22DNRC046 - [email protected]/t from 3m for(GxM 12)
22DNRC047
325054
6569946
440
-90
0
18
22DNRC047 - [email protected]/t from 2m for(GxM 14)
22DNRC048 - 2.00m @ 1.43g/t from 6m for(GxM 3)
22DNRC048 - [email protected]/t from 9m for(GxM 7)
22DNRC049
325071
6569937
440
-90
0
18
22DNRC049 - [email protected]/t from 3m for(GxM 18)
22DNRC050 - 1.00m @ 0.56g/t from 0m for(GxM 1)
22DNRC050 - [email protected]/t from 9m for(GxM 8)
22DNRC051 - 5.00m @ 1.1g/t from 1m for(GxM 6)
22DNRC051 - 1.00m @ 1.15g/t from 7m for(GxM 1)
22DNRC051 - 3.00m @ 0.55g/t from 9m for(GxM 2)
22DNRC051 - [email protected]/t from 16m for(GxM 1)
22DNRC052
325062
6569977
440
-90
0
18
22DNRC052 - [email protected]/t from 0m for(GxM 12)
22DNRC053
325069
6569988
440
-90
0
18
22DNRC053 - [email protected]/t from 0m for(GxM 14)
22DNRC054
325065
6570002
439
-90
0
18
22DNRC054 - [email protected]/t from 0m for(GxM 13)
22DNRC055 - 4.00m @ 0.99g/t from 1m for(GxM 4)
22DNRC055 - [email protected]/t from 8m for(GxM 6)
24
92
-60
440
6569950
325086
22DNRC036
18
0
-90
440
6569954
325078
22DNRC035
24
82
-60
440
6569962
325083
22DNRC034
24
82
-60
440
6569975
325084
22DNRC033
22DNRC031
26
82
-60
440
6569996
325086
22DNRC030
19
0
-90
440
6569997
325081
22DNRC029
18
0
-90
439
6570009
325079
22DNRC028
20
82
-60
440
6570005
325086
22DNRC027
24
72
-60
439
6570015
325087
(MGA 94 Zone 51)
Dreadnought LGSP - RC grade control significant Intersections calculated at 0.5g/t Au cut off an up to 3m internal dilution
22DNRC051
18
0
-90
440
6569950
325065
22DNRC050
18
0
-90
440
6569962
325066
22DNRC048
19
0
-90
439
6569911
325059
22DNRC045
18
0
-90
440
6569960
325052
22DNRC043
18
0
-90
439
6569908
325031
22DNRC042
18
0
-90
439
6569907
325068
22DNRC041
18
0
-90
440
6569919
325073
22DNRC040
19
0
-90
439
6569901
325051
439
6570014
325066
22DNRC055
18
0
-90

Market Announcement | Page 34 of 41

Hole ID
Easting
Northing
RL
Dip
Azimuth
EOH
Intersection
(MGA94)
(m)
22DNRC056 - 1.00m @ 1.03g/t from 3m for(GxM 1)
22DNRC056 - [email protected]/t from 9m for(GxM 1)
22DNRC057 - 4.00m @ 1g/t from 0m for(GxM 4)
22DNRC057 - 3.00m @ 1.49g/t from 5m for(GxM 4)
22DNRC057 - [email protected]/t from 10m for(GxM 1)
22DNRC058 - 4.00m @ 0.65g/t from 1m for(GxM 3)
22DNRC058 - 3.00m @ 0.67g/t from 6m for(GxM 2)
22DNRC058 - [email protected]/t from 12m for(GxM 1)
22DNRC059 - 3.00m @ 0.64g/t from 0m for(GxM 2)
22DNRC059 - 4.00m @ 0.93g/t from 4m for(GxM 4)
22DNRC059 - [email protected]/t from 10m for(GxM 3)
22DNRC060
325431
6569563
426
-60
285
12
22DNRC061
325434
6569571
426
-60
304
12
22DNRC062
325439
6569576
426
-60
318
12
22DNRC063
325445
6569582
426
-60
338
12
22DNRC063 - [email protected]/t from 0m for(GxM 2)
22DNRC064 - 3.00m @ 0.55g/t from 1m for(GxM 2)
22DNRC064 - [email protected]/t from 8m for(GxM 1)
22DNRC065
325455
6569574
426
-60
75
12
22DNRC066 - 1.00m @ 0.5g/t from 0m for(GxM 1)
22DNRC066 - 1.00m @ 0.7g/t from 2m for(GxM 1)
22DNRC066 - [email protected]/t from 9m for(GxM 1)
22DNRC067 - 2.00m @ 1.05g/t from 1m for(GxM 2)
22DNRC067 - [email protected]/t from 8m for(GxM 1)
22DNRC068 - 1.00m @ 1.09g/t from 1m for(GxM 1)
22DNRC068 - [email protected]/t from 5m for(GxM 1)
22DNRC069
325439
6569563
426
-90
102
9
22DNRC069 - [email protected]/t from 5m for(GxM 1)
22DNRC070
325450
6569569
426
-90
0
9
22DNRC071
325446
6569575
427
-88
225
9
22DNRC071 - [email protected]/t from 0m for(GxM 1)
22DNRC072
325439
6569570
426
-89
279
9
22DNRC072 - [email protected]/t from 2m for(GxM 11)
22DNRC073
325440
6569559
426
-60
176
12
22DNRC073 - 5.00m@1g/t from 1m for(GxM 5)
22DNRC074 - 7.00m @ 0.59g/t from 1m for(GxM 4)
22DNRC074 - [email protected]/t from 10m for(GxM 1)
22DNRC064
14
147
-85
436
6570044
325052
22DNRC059
12
35
-59
426
6569580
325451
22DNRC058
15
0
-90
438
6570032
325053
22DNRC057
17
0
-90
438
6570038
325062
18
267
-60
438
6570028
325052
22DNRC074
9
5
-88
426
6569562
325448
22DNRC068
12
194
-60
426
6569560
325433
(MGA 94 Zone 51)
Dreadnought LGSP - RC grade control significant Intersections calculated at 0.5g/t Au cut off an up to 3m internal dilution
22DNRC067
12
82
-60
426
6569567
325458
22DNRC066
12
133
-60
425
6569559
325458
22DNRC056

Market Announcement | Page 35 of 41

Hole ID	Easting Northing RL (MGA 94 Zone 51)	Easting Northing RL (MGA 94 Zone 51)	Easting Northing RL (MGA 94 Zone 51)	Dip	Azimuth (MGA94)	EOH (m)	Intersection
Dreadnought RC significant Intersections calculated at 0.5g/t Au cut off and up to 3m internal dilution
23DNRC001	325213	6569629	416	-45	104	72
23DNRC002	325449	6569493	418	-61	272	174	23DNRC002 - [email protected]/t from 132m for(GxM 6)
							23DNRC002 - [email protected]/t from 88m for(GxM 9)
							23DNRC002 - [email protected]/t from 151m for(GxM 1)
							23DNRC002 - [email protected]/t from 95m for(GxM 35)
23DNRC003	325188	6569628	417	-45	114	96	23DNRC003 - [email protected]/t from 9m for(GxM 25)
23DNRC004	325449	6569521	418	-53	293	210	23DNRC004 - [email protected]/t from 99m for(GxM 29)
							23DNRC004 - [email protected]/t from 129m for(GxM 21)
							23DNRC004 - [email protected]/t from 177m for(GxM 3)
23DNRC005	325159	6569620	417	-52	120	120	23DNRC005 - [email protected]/t from 19m for(GxM 8)
							23DNRC005 - [email protected]/t from 42m for(GxM 1)
23DNRC006	325454	6569508	418	-55	276	174	23DNRC006 - [email protected]/t from 173m for(GxM 1)
							23DNRC006 - [email protected]/t from 116m for(GxM 22)
							23DNRC006 - [email protected]/t from 147m for(GxM 13)
							23DNRC006 - [email protected]/t from 161m for(GxM 1)
							23DNRC006 - [email protected]/t from 101m for(GxM 10)
23DNRC007	325160	6569636	417	-45	96	126	23DNRC007 - [email protected]/t from 43m for(GxM 131)
							23DNRC007 - [email protected]/t from 112m for(GxM 1)
23DNRC008	325427	6569521	417	-51	290	192	23DNRC008 - [email protected]/t from 95m for(GxM 52)
23DNRC009	325160	6569635	417	-57	97	144	23DNRC009 - [email protected]/t from 95m for(GxM 1)
							23DNRC009 - [email protected]/t from 26m for(GxM 3)
							23DNRC009 - [email protected]/t from 37m for(GxM 1)
							23DNRC009 - [email protected]/t from 46m for(GxM 16)
23DNRC010	325427	6569517	417	-54	270	174	23DNRC010 - [email protected]/t from 165m for(GxM 2)
							23DNRC010 - [email protected]/t from 129m for(GxM 13)
							23DNRC010 - [email protected]/t from 118m for(GxM 2)
							23DNRC010 - [email protected]/t from 85m for(GxM 51)
							23DNRC010 - [email protected]/t from 162m for(GxM 1)
23DNRC011	325158	6569633	417	-45	114	120	23DNRC011 - [email protected]/t from 41m for(GxM 20)
							23DNRC011 - [email protected]/t from 33m for(GxM 1)
23DNRC012	325429	6569514	417	-55	252	192	23DNRC012 - [email protected]/t from 113m for(GxM 1)
							23DNRC012 - [email protected]/t from 105m for(GxM 1)
							23DNRC012 - [email protected]/t from 119m for(GxM 4)
							23DNRC012 - [email protected]/t from 160m for(GxM 1)
							23DNRC012 - [email protected]/t from 165m for(GxM 1)
							23DNRC012 - [email protected]/t from 84m for(GxM 2)
							23DNRC012 - [email protected]/t from 98m for(GxM 2)
23DNRC013	325208	6569664	416	-50	111	102	23DNRC013 - [email protected]/t from 83m for(GxM 11)
23DNRC014	325249	6569679	416	-45	158	78	23DNRC014 - [email protected]/t from 63m for(GxM 2)
23DNRC015	325205	6569663	416	-45	130	96
23DNRC016	325143	6569523	418	-45	72	108	23DNRC016 - [email protected]/t from 98m for(GxM 19)
23DNRC017	325251	6569680	416	-45	128	72	23DNRC017 - [email protected]/t from 49m for(GxM 7)
23DNRC018	325143	6569520	418	-68	100	162	23DNRC018 - [email protected]/t from 60m for(GxM 4)
							23DNRC018 - [email protected]/t from 68m for(GxM 28)
23DNRC019	325773	6569291	420	-50	300	150
23DNRC020	325196	6569666	416	-67	150	90
23DNRC021	325200	6569662	416	-45	150	60
23DNRC022	325135	6569604	417	-48	150	36
23DNRC023	325135	6569617	417	-57	150	54	23DNRC023 - [email protected]/t from 46m for(GxM 3)
23DNRC024	325150	6569651	417	-48	150	84	23DNRC024 - [email protected]/t from 52m for(GxM 1)
							23DNRC024 - [email protected]/t from 43m for(GxM 1)
							23DNRC024 - [email protected]/t from 46m for(GxM 1)
23DNRC102	325139	6569000	420	-90	360	3
23DNRC103	325149	6569001	420	-90	360	4
23DNRC104	325161	6569007	420	-90	360	3
23DNRC105	325178	6569013	420	-90	360	3
23DNRC106	325192	6569016	420	-90	360	3
23DNRC107	325206	6569016	420	-90	360	3
23DNRC108	325223	6569019	420	-90	360	3
23DNRC109	325237	6569023	419	-90	360	3
23DNRC110	325251	6569027	419	-90	360	3
23DNRC111	325266	6569031	419	-90	360	3
23DNRC112	325281	6569033	418	-90	360	3
23DNRC113	325294	6569035	419	-90	360	3
23DNRC114	325312	6569041	419	-90	360	3
23DNRC115	325307	6569051	419	-90	360	3

Market Announcement | Page 36 of 41

Hole ID	Easting Northing RL (MGA 94 Zone 51)	Easting Northing RL (MGA 94 Zone 51)	Easting Northing RL (MGA 94 Zone 51)	Dip	Azimuth (MGA94)	EOH (m)	Intersection
Dreadnought RC significant Intersections calculated at 0.5g/t Au cut off and up to 3m internal dilution
23DNRC116	325292	6569049	419	-90	360	3
23DNRC117	325278	6569046	419	-90	360	3
23DNRC118	325264	6569042	419	-90	360	3	23DNRC118 - [email protected]/t from 2m for(GxM 1)
23DNRC119	325249	6569039	419	-90	360	3
23DNRC120	325234	6569035	419	-90	360	3
23DNRC121	325220	6569032	420	-90	360	3
23DNRC122	325205	6569029	420	-90	360	3
23DNRC123	325190	6569026	420	-90	360	4
23DNRC124	325175	6569022	420	-90	360	4
23DNRC125	325162	6569019	420	-90	360	4
23DNRC126	325146	6569016	420	-90	360	4
23DNRC127	325133	6569012	420	-90	360	4
23DNRC128	325130	6569028	420	-90	360	3
23DNRC129	325142	6569030	420	-90	360	4
23DNRC130	325157	6569034	421	-90	360	4
23DNRC131	325172	6569037	421	-90	360	4
23DNRC132	325186	6569041	421	-90	360	5
23DNRC133	325201	6569044	421	-90	360	4
23DNRC134	325215	6569047	420	-90	360	4
23DNRC135	325230	6569050	420	-90	360	4
23DNRC136	325245	6569054	420	-90	360	4
23DNRC137	325259	6569057	420	-90	360	4	23DNRC137 - [email protected]/t from 3m for(GxM 1)
23DNRC138	325275	6569060	420	-90	360	4
23DNRC139	325289	6569064	419	-90	360	4
23DNRC140	325303	6569067	419	-90	360	4
23DNRC141	325298	6569075	419	-90	360	4
23DNRC142	325286	6569078	420	-90	360	4
23DNRC143	325271	6569074	420	-90	360	4
23DNRC144	325257	6569071	421	-90	360	4
23DNRC145	325242	6569068	421	-90	360	4
23DNRC146	325228	6569065	421	-90	360	3
23DNRC147	325213	6569061	421	-90	360	4
23DNRC148	325198	6569058	421	-90	360	4
23DNRC149	325183	6569054	421	-90	360	4
23DNRC150	325169	6569051	421	-90	360	4
23DNRC151	325154	6569048	421	-90	360	4
23DNRC152	325140	6569045	421	-90	360	4
23DNRC153	325127	6569041	421	-90	360	4
23DNRC154	325129	6569052	421	-90	360	4
23DNRC155	325136	6569054	421	-90	360	3
23DNRC156	325149	6569060	421	-90	360	4	23DNRC156 - [email protected]/t from 2m for(GxM 2)
23DNRC157	325163	6569068	422	-90	360	3	23DNRC157 - [email protected]/t from 2m for(GxM 1)
23DNRC158	325165	6569066	422	-90	360	3
23DNRC159	325180	6569070	422	-90	360	3
23DNRC160	325177	6569079	422	-90	360	2
23DNRC161	325194	6569073	422	-90	360	3	23DNRC161 - [email protected]/t from 1m for(GxM 1)
23DNRC162	325192	6569084	422	-90	360	2
23DNRC163	325209	6569077	422	-90	360	4
23DNRC164	325224	6569079	422	-90	360	4
23DNRC165	325238	6569082	422	-90	360	4
23DNRC166	325252	6569086	421	-90	360	4	23DNRC166 - [email protected]/t from 0m for(GxM 2)
23DNRC167	325268	6569089	421	-90	360	4
23DNRC168	325283	6569093	420	-90	360	3	23DNRC168 - [email protected]/t from 2m for(GxM 1)
23DNRC169	325291	6569109	418	-90	0	1
23DNRC170	325307	6569099	418	-90	360	2	23DNRC170 - [email protected]/t from 0m for(GxM 1)
23DNRC171	325317	6569086	418	-90	360	2
23DNRC172	325332	6569076	418	-90	360	2
23DNRC173	325341	6569075	418	-90	360	1
23DNRC174	325351	6569078	418	-90	360	2
23DNRC175	325361	6569080	418	-90	360	2

Market Announcement | Page 37 of 41

	Hole ID Easting Northing RL Dip Azimuth EOH Intersection (MGA94) (m) 23DNRC176 325371 6569082 417 -90 360 2 23DNRC177 325381 6569084 417 -90 360 2 23DNRC178 325377 6569097 416 -90 360 2 23DNRC179 325368 6569097 417 -90 360 2 23DNRC180 325357 6569094 417 -90 360 2 23DNRC181 325348 6569092 418 -90 360 2 23DNRC182 325338 6569090 417 -90 360 2 23DNRC183 325327 6569087 418 -90 360 2 23DNRC184 325322 6569104 417 -90 360 2 23DNRC185 325336 6569109 417 -90 360 2 23DNRC186 325343 6569106 418 -90 360 2 23DNRC187 325355 6569106 417 -90 360 2 23DNRC188 325328 6569121 416 -90 360 2 23DNRC188 - [email protected]/t from 0m for(GxM 1) 23DNRC189 325316 6569118 416 -90 0 2 23DNRC190 325302 6569113 418 -90 0 3 (MGA 94 Zone 51) Dreadnought RC significant Intersections calculated at 0.5g/t Au cut off and up to 3m internal dilution
Data aggregation methods	• Mineralised intersections are reported at a 0.5g/t Au cut-off with a minimum reporting width of 1m for RC holes and 0.2m for diamond holes, composited to 1m.
Relationship between mineralisation widths and intercept lengths	• Holes were drilled orthogonal to mineralisation as much as possible, however the exact relationship between intercept width and true width cannot be estimated exactly in all cases.
Diagrams	• Accurate plans are included in this announcement.
Balanced reporting	• Drilling results are reported in a balanced reporting style. • FML drill assay results and historic drill hole results are predominantly available on WAMEX.
Other substantive exploration data	• There is no other material exploration data to report at this time.
Further work	• A review of the revised modelling and estimation is underway, with respect to planning future drillholes.

Market Announcement | Page 38 of 41

Section 3 Estimation and Reporting of Mineral Resources

(Criteria listed in section 1, and where relevant in section 2, also apply to this section)

Criteria	Explanation
Database integrity	• FML data was geologically logged electronically, collar and downhole surveys were also received electronically as were the laboratory analysis results. These electronic files were loaded into an acQuire database by either consultants rOREdata or the company in-house Database Administrator. Data was routinely extracted to Microsoft Access during the drilling programs for validation by the geologist in charge of the project. • FML’s database is a Microsoft SQL Server database (acQuire), which is case sensitive, relational, and normalised to the Third Normal Form. As a result of normalisation, the following data integrity categories exist: • Entity Integrity: no duplicate rows in a table, eliminated redundancy and chance of error. • Domain Integrity: Enforces valid entries for a given column by restricting the type, the format, or a range of values. • Referential Integrity: Rows cannot be deleted which are used by other records. • User-Defined Integrity: business rules enforced by acQuire and validation codes set up by FML. • Additionally, in-house validation scripts are routinely run in acQuire on FML’s database and they include the following checks: • Missing collar information • Missing logging, sampling, downhole survey data and hole diameter • Overlapping intervals in geological logging, sampling, down hole surveys • Checks for character data in numeric fields. • Data extracted from the database were validated visually in Datamine and Seequent Leapfrog software. Also, when loading the data any errors regarding missing values and overlaps are highlighted. • Historic data has been validated against WAMEX reports where possible.
Site visits	• Alex Aaltonen, the Competent Person for Sections 1 and 2 of Table 1 is FML’s General Manager - Exploration and conducted regular site visits throughout 2022/2023. • Hannah Kosovich, the Competent Person for Section 3 of Table 1 is FML’s Resource Geologist and visited site in 2014.
Geological interpretation	• All available drill hole and pit mapping data was used to guide the geological interpretation of the mineralisation. • The mineralised geological interpretation was completed using Seequent Leapfrog software on a section-by-section basis. • Dreadnought was modelled using geological and structural controls to identify domains of like mineralisation. In total 8 different domains were identified. A lower cut-off of 0.4Au ppm was used to guide the construction. • Within each domain vein sets were modelled with similar orientations of strike and dip. In total 58 different veins were modelled, with varying orientations and strike lengths. An approximate 0.5ppm Au value was used to guide the interpretation of the individual lodes. • Several of these mineralised structures were further sub – domained to define consistent HG domains and prevent very HG from overly influencing lower grade areas. In total 15 HG sub domains were created. • One mass lode with limited structural orientation was modelled adjacent to the Dreadnought fault. • After reviewing Alicia and Empress deposits a significant ENE striking “terminator” fault has been modelled that truncates Dreadnought to the north of the current open pit. • The low-grade stockpile was drilled at 10m grid spacing to help delineate areas of consistent mineralised grade. Sub domains were constructed in Leapfrog software that encapsulates different material types on the basis of 2022 sampling.
Dimensions	• Mineralisation at Dreadnought has been interpreted over a 540m strike that extends from near surface to approx. 245m below surface.

Market Announcement | Page 39 of 41

	• The thickness of the individual lodes varies from 0.5m wide to over 14m. While the larger scale domains vary from 30m to approx. 110m thick. • The toe of the low-grade stockpile extends over 195m long and 90m wide. The central part of the stockpile grade control sampled during 2022 extends over 165m long and 80m wide.
Estimation and modelling techniques	• An Ordinary Kriging (OK) estimate was run using Datamine software, following the process below: • Drill hole data was selected within mineralised domains and then within the internal vein set lodes. Boundaries between veins and the surrounding domain were considered hard boundaries and no data is shared between lodes or between domains and lodes. All drill hole data was composited to 1m downhole intervals – 1m is the dominant raw sampling interval. • The composited data was imported into Supervisor software for statistical and geostatistical analysis. • After a review of the individual lode statistics, higher Au samples that were outliers to the main population were “top-capped” to a selected value for each lode. An average of 9ppm Au was used with a maximum of 35ppm Au. • Variography was modelled on data transformed to normal scores, the variogram models were back transformed to original units before exporting. • Variography was performed on the individual lodes with larger sample numbers, in total 23 variograms were modelled. • These models were shared with the other lodes that fell within that domain of similar orientation and proximity. The broader scale domains also shared these variogram orientations. • The back-transformed variogram models had moderate to high nugget effects (18 to 54% of total sill), with a range from 21m to 190m for the lodes. • Estimation (via Ordinary Kriging) was into a non-rotated block model in MGA94 grid, with a parent block size of 10 mE x 10 mN x 5 mRL – this is about the average drill spacing in the deposit. Sub-blocking was used to best fill the wireframes and inherit the grade of the parent block. • The ellipsoid search parameters used the variogram ranges, with a minimum of 8 and maximum of 18 samples per block estimate was used. After the first pass 79% of blocks had estimated. For un-estimated blocks after this first pass, the search distance was expanded by a factor of two and the minimum number of samples dropped to 5. In the second pass 17% of blocks estimated. A third pass was then run with an increased search distance by a factor of four and the same minimum number of samples. Only 3% of blocks estimated in the third search pass. • The broad domains had an isotropic 100m search radius used. • The estimate was validated by visually stepping through the estimated blocks and sample data in Datamine. Comparing the estimated block statistics with composited sample data and generate trend (Swath) plots to ensure the estimate was honouring the trends of the data. Also, a review of the output parameters from the estimation process like kriging variance, negative weights, search distances and sample numbers. • Following a review of estimated lode grades vs composite lode grades, a “distance limited search” was applied to lodes that had high grades being spread into areas of fewer lower grade samples artificially influencing the grades of these blocks. • The process is to apply a distance limit, 20m was selected based on a visual review of sample spacing in affected lodes, to samples above 5ppm being used in the estimation of blocks. Outside the 20m search ellipse assays above 5ppm are removed resulting in blocks better honouring the low grades in areas of less drilling. • The low-grade stockpile was estimated by using an Inverse Distance Squared approach with a 50m isotropic search and a minimum of 8 samples and a maximum of 20 samples. A top- cap of 1.9ppm Au was applied to the samples to remove any high-grade outliers. The stockpile estimated in a single search pass. Less sampled areas of the LG stockpile that are difficult to estimate using this approach have had slightly conservative average grade applied on the basis of reconciled toll milling results.
Moisture	• Tonnages are estimated on a dry basis. • Tonnages for the LG stockpile have been reconciled with toll milling campaign conducted during 2022.

•
The thickness of the individual lodes varies from 0.5m wide to over 14m. While the larger
scale domains vary from 30m to approx. 110m thick.
•
The toe of the low-grade stockpile extends over 195m long and 90m wide. The central part of
the stockpile grade control sampled during 2022 extends over 165m long and 80m wide.

Estimation and
modelling
techniques

•
An Ordinary Kriging (OK) estimate was run using Datamine software, following the process
below:
•
Drill hole data was selected within mineralised domains and then within the internal vein set
lodes. Boundaries between veins and the surrounding domain were considered hard
boundaries and no data is shared between lodes or between domains and lodes. All drill hole
data was composited to 1m downhole intervals – 1m is the dominant raw sampling interval.
•
The composited data was imported into Supervisor software for statistical and geostatistical
analysis.
•
After a review of the individual lode statistics, higher Au samples that were outliers to the
main population were “top-capped” to a selected value for each lode. An average of 9ppm Au
was used with a maximum of 35ppm Au.
•
Variography was modelled on data transformed to normal scores, the variogram models were
back transformed to original units before exporting.
•
Variography was performed on the individual lodes with larger sample numbers, in total 23
variograms were modelled.
•
These models were shared with the other lodes that fell within that domain of similar
orientation and proximity. The broader scale domains also shared these variogram
orientations.
•
The back-transformed variogram models had moderate to high nugget effects (18 to 54% of
total sill), with a range from 21m to 190m for the lodes.
•
Estimation (via Ordinary Kriging) was into a non-rotated block model in MGA94 grid, with a
parent block size of 10 mE x 10 mN x 5 mRL – this is about the average drill spacing in the
deposit. Sub-blocking was used to best fill the wireframes and inherit the grade of the parent
block.
•
The ellipsoid search parameters used the variogram ranges, with a minimum of 8 and
maximum of 18 samples per block estimate was used. After the first pass 79% of blocks had
estimated. For un-estimated blocks after this first pass, the search distance was expanded by
a factor of two and the minimum number of samples dropped to 5. In the second pass 17% of
blocks estimated. A third pass was then run with an increased search distance by a factor of
four and the same minimum number of samples. Only 3% of blocks estimated in the third
search pass.
•
The broad domains had an isotropic 100m search radius used.
•
The estimate was validated by visually stepping through the estimated blocks and sample
data in Datamine. Comparing the estimated block statistics with composited sample data and
generate trend (Swath) plots to ensure the estimate was honouring the trends of the data.
Also, a review of the output parameters from the estimation process like kriging variance,
negative weights, search distances and sample numbers.
•
Following a review of estimated lode grades vs composite lode grades, a “distance limited
search” was applied to lodes that had high grades being spread into areas of fewer lower
grade samples artificially influencing the grades of these blocks.
•
The process is to apply a distance limit, 20m was selected based on a visual review of
sample spacing in affected lodes, to samples above 5ppm being used in the estimation of
blocks. Outside the 20m search ellipse assays above 5ppm are removed resulting in blocks
better honouring the low grades in areas of less drilling.
•
The low-grade stockpile was estimated by using an Inverse Distance Squared approach with
a 50m isotropic search and a minimum of 8 samples and a maximum of 20 samples. A top-
cap of 1.9ppm Au was applied to the samples to remove any high-grade outliers. The
stockpile estimated in a single search pass. Less sampled areas of the LG stockpile that are
difficult to estimate using this approach have had slightly conservative average grade applied
on the basis of reconciled toll milling results.

Moisture

•
Tonnages are estimated on a dry basis.
•
Tonnages for the LG stockpile have been reconciled with toll milling campaign conducted
during 2022.

Market Announcement | Page 40 of 41

Cut-off parameters	• The Resources for Dreadnought have been reported above a 0.6g/t Au cut-off. • The low-grade stockpile has been reported without a lower-grade cut-off as it cannot be selectively mined to cut off and the reconciled toll milling campaign indicates all domains exceed economic cut off at the Three Mile Hill mill.
Mining factors or assumptions	• FML anticipates mining at Dreadnought by open pit methods with a cut-back and extension to the existing open pit. Material to be processed through the Three Mile Hill plant some 8km to the north of Dreadnought. • FML anticipates future LG stockpile reclamation as a load and haul operation to the Three Mile Hill plant.
Metallurgical factors or assumptions	• LG stockpile Toll Milling in 2022 Indicates very good recovery of gold averaging 95.6% which compares favourably with 2022 Metallurgical testwork. • No new metallurgical testwork has been conducted on the Dreadnought deposit.
Environmental factors or assumptions	• The deposits occur within an area of significant previous ground disturbance including open pits and waste dumps.
Bulk density	• Density values were assigned based on lithology type and weathering profile. • FML performed water immersion technique density test work on historic diamond core samples and historic figures used by previous operators were used. • A single oxide density of 2.1t/m3 was used for all material types; an average of 2.65 t/m3 was used for transitional material and an average of 2.85 t/m3 was used for fresh. • The following reconciliation of toll milling campaign the Empress – Dreadnought low-grade _stockpile was assigned a density of 1.67 t/m3. _
Classification	• Resources have been classified as Indicated and Inferred. Given the close-spaced sampling distances and the successful mining of the deposit by Focus in the past, resources were primarily classified based on confidence of the interpretation. Vein-sets with high confidence in lode geometry, blocks filling in the first search pass and high density of FML drill holes were classified as Indicated. • Vein-set lodes that had less data informing their geometry but still had blocks primarily filling in the first search pass were classified as Indicated. • Blocks that estimated in the second or third pass were classed as Inferred. • All the background Domains have been classified as Inferred. • The low-grade stockpile has been classified as Indicated.
Audits or reviews	• No independent audits or reviews of the mineral resource estimate have been conducted.
Discussion of relative accuracy/ confidence	• This is addressed in the relevant paragraph on Classification above. • The Mineral Resource relates to global tonnage and grade estimates.

Market Announcement | Page 41 of 41

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About Focus Minerals Limited (ASX: FML)

Competent Person Statement

ASX Listing Rule 5.19.2

JORC Code, 2012 Edition – Table 1

Section 1 Sampling Techniques and Data

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

Section 2 Reporting of Exploration Results

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

Section 3 Estimation and Reporting of Mineral Resources

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Flowsheet:

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About Focus Minerals Limited (ASX: FML)

Competent Person Statement

ASX Listing Rule 5.19.2

JORC Code, 2012 Edition – Table 1

Section 1 Sampling Techniques and Data

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

Section 2 Reporting of Exploration Results

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

Section 3 Estimation and Reporting of Mineral Resources

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