FORTUNA METALS LTD — Capital/Financing Update 2019

Jul 9, 2019

PHONE +61 (8) 9486 4036 ABN WEBSITE 96 095 684 389 www.frontierresources.com.au

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ADDRESS Level 8, 99 St Georges Tce Perth WA 6000

ASX: FNT

Market Announcements Platform

10 July 2019

Major Gold Structures Modelled at Tolukuma

• Geophysical modelling reveals major gold bearing structures within the Tolukuma Tenement coinciding with known gold bearing systems within the Tolukuma Gold mine

• A first phase of drilling at the Saki Deposit demonstrated a 600m wide system, intersecting:

• 21.21m @ 1.75 g/t Au from 7m depth (SK009)

• 2.25m @ 7.10 g/t Au from 21.5m depth (SK014)

• 2.63m @ 5.14 g/t Au from 34.7m depth (SK017)

• Next Steps:

• Acquisition of the complete drill hole database which includes an additional 3,080m of drilling results at the Saki deposit

• Once obtained, all Saki trench and mineral results will be announced prior to undertaking a JORC‐code compliant resource estimate

• Currently seeking joint venture funding for its two additional 100% owned porphyry copper‐gold‐molybdenum and epithermal gold projects (Bulago and Muller Range)

Frontier Resources Limited ( Frontier or the Company ) is pleased to announce that its recently modelled airborne geophysical data revealed major gold bearing structures within its wholly owned EL2531 Tolukuma tenement (Figure 2). A first phase of historical drilling at the Saki Deposit demonstrated a 600m wide system of gold veins coincident with the deepset Saki Gold Zone (Figure 1). At the “Saki I” vein in Degom Creek where the vein is 6m wide, surface gold grades are extremely variable and range between 1m at 6.23 g/t Au to 1m at 49.50 g/t Au and 0.5m at 535 g/t Au. Drillholes through the veins had gold grades generally lower including 21.21m at 1.75 g/t Au from 7m depth (SK009: Saki I vein), 2.25m at 7.10 g/t Au from 21.5m depth (SK014: Saki II Vein), 2.63m at 5.14 g/t Au from 34.7m depth (SK017: Saki III vein), 1.59m at 26.03 g/t Au from 24.6m in drillhole SK019 in the Saki IV vein (Table 1).

The partly mined Tolukuma vein system is one of numerous parallel veins that occur scattered through an area of over 100 sq.km. Fracture systems that can be traced or projected back to a volcanic centre such as Mt.Tafa make a very good locus for gold mineralisation. Re‐activation of pre‐existing faults within the basement Kagi Metamorphics has propagated into the overlying volcanics and these faults have been exploited by mineralising fluids depositing gold.

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Figure 1: 3D Magnetic Structural Model Looking Southwest

Frontier’s recent 3D geophysical magnetic modelling confirms major faults where mineralising fluids have travelled through three major structural zones (Tolukuma, Saki and Ijav Gold Zones) within the “Tolukuma Intrusive Complex” and into the northern part of the EL2531 tenement (Figure 2). These major sub‐surface structures are coincident with gold bearing vein systems at the Tolukuma Gold Mine, Saki gold vein system and Diakoku gold prospect and stream anomalies (Figure 3).

The presence of deepset magnetite altered structures define the highly prospective nature of EL2531 and its significant potential to define additional gold resources for the continuation of future production from Tolukuma gold mine.

Airborne magnetic modelling has also identified a large 10km diameter magnetic halo in the southern half of the tenement through which two major alteration bearing structures emanate from the centre of the Mt.Tafa volcanic complex (Figure 3). A “Graben Structure” and circular feature on its western side was historically identified in satellite imagery and is coincident with a 3km wide north‐south zone of magnetite alteration and further exploration on the ground is required in this region.

Saki Deposit

The Saki deposit is an epithermal vein system comprised of 6 structures that are spread across 600m and running sub‐parallel in a NNW direction across some 1.3 kilometres. They are hosted within a volcanic pile ranging from Andesitic Tuffs to Conglomerates and basalt, which pinch and swell from solid quartz veins 7m wide to thin anastomosing quartz veinlets often accompanied by intense argillic / phyllic alteration as evident in the altered “Saki Gold Zone” identified from the recent modelling (Figures 1 and 3).

In 2002, Tolukuma Gold Mines (TGM) completed a detailed program of drilling at the Saki prospect further east of mining lease ML104 and within the now Frontier owned EL2531. Their objective was to supplement the ever‐depleting ore at the Tolukuma Gold Mine within 10km of trucking distance to the mill at Tolukuma. Five of the Saki veins were drilled during Phase One with 28 drillholes and 2318.4m of core (Figure 4).

All drilling was done with a man portable rig using HQ gear and a capability of drilling to 250m depth when reduced to NQ. The greatest depth attained was 124.35m in SK008 (Table 2).

The mineralisation within the structures is comprised of pyrite, marcasite, stibnite, realgar, with trace amounts of rutile, sphalerite and teantite. These are all intimately associated with quartz, chlorite, illite and smectite clays inside the structures. Native gold was also sighted in one of the petrographic samples.

The Saki group of veins include 6 main NNW‐SSE veins that are 1‐2m wide along a strike length of some 4km spread across an area of 1500m x 600m. Five of the six main veins were drill tested for gold mineralisation including Saki I, Saki II, Saki III, Saki IV and Saki V (Figure 4).

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Figure 2: Location of EL2531

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Figure 3: Magnetic Structural Model PLanview in EL2531

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Figure 4: Saki Vein System First Phase of Drilling
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Saki I

The widest exposure is 6m in the Degom Creek where gold grades are extremely nuggety. SK009 drilled through Saki I, intersecting 21m true width of massive quartz‐sulphide‐clay mineralisation. SK011 intersected Saki I within the oxide zone from a weathered and soft clay‐quartz‐pyrite‐Fe‐oxide mineralisation (Table1).

Saki II

Six holes (SK005, 006, 009, 012, 013, 014) tested the Saki II structure with SK005 intersecting 3.76m of massive quartz‐sulphide‐clay‐FeOxide mineralisation. Both SK005 and SK006 intersected structures which were heavily oxidised. SK012 and 013 failed to intersect a solid coherent vein while SK014 intersected quartz‐stibnite‐realgar‐clay mineralisation of 2.25m at 7.10 g/t Au from 21.5m depth. SK009 also intersected the oxide zone.

Saki III

Six holes (SK001, 002, 003, 004, 017, 018) were drilled into the Saki III structure. SK001 and SK002 targeted a structural intersection which and intersected a strongly oxidised vein that appeared to be flat lying. SK003 and SK004 targeted the Saki III_a and Saki III_b structures, which are 7m apart, intersecting quartz‐pyrite‐ Fe Oxide‐clay mineralisation in a crackle breccia from Saki III_b.

Saki IV

Five drillholes (SK019, 023, 024, 026, 027) were designed to intersect this structure. Two additional holes (SK020, 021) were included when SK019 intersected a twin structure 2m apart between 24.60 – 38.20m returning 1.59m at 26.03 g/t Au and 1.36m at 2.36 g/t Au at an interpreted structural intersection. The structures continued through drillholes SK020, 021, 023 and 024. Vein thickness varied between 1 and 7 metres. The structures vary from massive quartz‐sulphide‐clay vein and a crackle breccia to a zone of shear with thin sheeted veinlets.

Saki V

Surface veins vary from a quartz‐sulphide‐clay breccia vein to a swarm of thin quartz‐pyrite veinlets with widths between 0.3 and 1m across some 200m. Two holes (SK025 & 027) tested this structure with SK025 intersecting 1.06m at 1.02 g/t Au in an oxide zone and SK007 intersecting 0.77m at 3.66 g/t Au in quartz‐ fine sulphide‐clay mineralisation.

Structures are mapped as near vertical in the creeks and near horizontal on the ridges caused by gradual down‐slope creep of the colluvium that has tilted the veins to shallow angles back into the ridge.

The Saki deposit is located at the top end of an Epithermal Low Sulphidation System. The close association of Arsenic and Antimony with Gold and Silver suggests possibility of Au/Ag mineralisation of potential economic value underneath. The changes of bonanza type Au accumulations are enhanced by the existence of multiple structural intersections and tension gashes.

Table 1: Saki Prospect Drillhole Structural Intersections and Grades

Hole Id	From	To	Width apparent/drilled	Width True	Weighted Average Au g/t	Structure
SK001	20.6	21.6	1.00	0.97	0.97m at 5.26	Saki III Vein
SK002	21.3	23.1	1.80	1.74	1.74m at 2.53	Saki III Vein
SK003	12.5	15.8	3.30	1.15	1.15m at 3.20	Saki III a Vein
SK003	44.6	~~15 8~~ 5I.6	7.00	3.50	3.50m at 3.36	Saki III b Vein
SK004	50.2	51.0	0.80	0.69	0.69m at 2.32	Saki III a Vein
SK004	97.9	99.4	1.45	0.72	0.72m at 24.00	Saki III b Vein
SK005	20.3	24.3	4.00	3.76	3.76m at 2.09	Saki II Vein
SK006	27	27.9	0.90	0.90	0.9m at 0.24	Saki II Vein
SK007b	51	54	3.00	2.90	2.90m at 1.04	Saki I Vein
SK008	62.4	80	17.60	8.80	8.80m at 1.63	Saki I Vein
SK008	90.1	98.8	8.70	6.15	6.15m at 0.58	Saki II Vein
SK009	7	40	33.00	21.21	21.21m at 1.75	Saki I Vein
SK009	115	118.5	3.50	2.47	2.47m at 0.72	Saki II Vein
SK010	47.1	49.6	2.50	1.16	1.16m at 0.10	Saki I Vein
SK011	54.7	58	3.30	2.22	2.22m at 1.26	Saki I Vein
SK012	41.1	45.9	4.50	2.25	2.25m at 0.96	Saki I Vein
SK013	71.75	75.6	3.85	1.93	1.93m at 0.18	Saki I Vein
SK014	21.5	26	4.50	2.25	2.25m at 7.10	Saki II Vein
SK015	51	55.7	4.7	3.08	3.09m at 0.31	Saki III Vein
SK016	15	16	1.00	0.66	0.66m at 0.82	Tension Gash
SK017	34.7	37.6	2.90	2.63	2.62m at 5.14	Saki III Vein
SK018	84.7	87.2	2.50	2.17	2.17m at 3.50	Saki III_b Vein
SK019	24.6	28.1	3.50	1.59	1.59m at 26.03	Saki IV_a Vein
SK019	34.1	37.1	3.00	1.36	1.36m at 2.36	Saki IV_b Vein
SK020	31.8	34.4	2.60	0.86	0.86m at 12.29	Saki IV_a Vein
SK021	49.3	65	15.70	7.37	7.37m at 4.21	Saki IV_b Vein
SK022						No intersection
SK023	25.9	34.6	8.70	7.53	7.53m at 1.59	Saki IV Vein
SK024	40	43.2	3.20	1.84	1.84m at 0.73	Saki IV Vein
SK025	19.8	21.3	1.50	1.06	1.06m at 1.02	Saki V Vein
SK026	109.8	112.8	3.00	2.12	2.12m at 2.56	Saki IV Vein
SK027	23.5	24.5	1.00	0.64	0.64m at 2.82	Saki V Vein
SK028	52	53.5	1.50	0.68	0.68m at 13.87	Tension Gash

Table 2: Historical 2002 Saki Prospect Drillhole Locations

Collar_id	Easting_m	Northing_m	Dip deg	Azimuth deg	EOH_m
SK001	518305	9053475	‐80	127	44.20
SK002	518305	9053475	‐73	307	60.70
SK003	518365	9053378	‐55	40	59.20
SK004	518365	9053378	‐78	40	116.10
SK005	518256	9053419	‐73	112	77.10
SK006	518256	9053419	‐78	42	81.40
SK007a	518212	9053377	‐55	37	46.10
SK007b	518212	9053377	‐67	37	76.75
SK008	518212	9053377	‐85	84	124.35
SK009	518237	9053279	‐67	57	119.50
SK010	518237	9053279	‐85	117	87.10
SK011	518262	9053164	‐67	70	83.40
SK012	518366	9053017	‐85	67	116.30
SK013	518366	9053017	‐74	134	94.00
SK014	518422	9052921	‐60	277	75.00
SK015	518558	9053158	‐80	12	71.70
SK016	518558	9053158	‐50	220	62.10
SK017	518555	9053236	‐45	42	40.50
SK018	518555	9053236	‐72	42	92.10
SK019	518552	9053386	‐65	237	63.70
SK020	518552	9053386	‐73	270	80.10
SK021	518552	9053386	‐79	190	93.30
SK022	518502	9053446	‐55	237	44.20
SK023	518502	9053446	‐55	49	51.70
SK024	518502	9053446	‐72	49	95.10
SK025	518549	9053661	‐72	67	53.10
SK026	518549	9053661	‐72	210	126.30
SK027	518446	9053754	‐45	67	75.40
SK028	518218	9053634	‐79	70	107.90
				Total Drilled:	2318.4

A second drilling program was subsequently completed by TGM. Frontier is in the process of acquiring the complete drill hole database which includes an additional 3,080m of drilling results at the Saki deposit. Once obtained, all Saki trench and drilling results will be announced prior to undertaking a JORC‐code compliant mineral resource estimate.

Frontier is currently reviewing historical 3D Induced Polarisation ground geophysics results along the vein extensions southeast of ML104 Tolukuma mine and will plan the next stage of exploration fieldwork to be completed this year which will include a mapping and trench sampling program.

Further Information

Frontier is focussing on the exploration of its near mine Tolukuma gold project. It is currently seeking joint venture funding for its two additional 100% owned porphyry copper‐gold‐molybdenum and epithermal gold projects in the Highlands of PNG at EL1595 (Bulago) and EL2356 (Muller Range).

Frontier is committed to exploring the resource potential within its 100% owned EL2531 Tolukuma Exploration Licence and hence fully determine its value for the future continuation of mining operations at the Tolukuma gold mine within ML104, which is totally surrounded by EL2531.

For additional information to relating Frontier and our other projects, please visit the website at www.frontierresources.com.au

FRONTIER RESOURCES LTD

Competent Person Statement :

The information in this report that relates to Exploration Results and Mineral Resources is based on information compiled by or compiled under the supervision of Peter Swiridiuk ‐ Member of the Aust. Inst. of Geoscientists. Peter Swiridiuk is a Technical Consultant and Non‐Executive Director for Frontier Resources. Peter Swiridiuk has sufficient experience which is relevant to the type of mineralisation and type of deposit under consideration to qualify as Competent Person as defined in the 2012 Edition of the Australasian Code of Reporting Exploration Results, Mineral Resources and Ore Resources. Peter Swiridiuk consents to the inclusion in the report of the matters based on the information in the form and context in which it appears. Additionally, Mr Swiridiuk confirms that the entity is not aware of any new information or data that materially affects the information contained in the ASX releases referred to in this report.

Frontier Resources Ltd Exploration Licence Information

Exploration Licence Number and Name	Ownership	sub‐ blocks	AREA (sq.km)*	Grant Date	Expiry Date
EL 1595 ‐ Bulago EL2356 ‐ Muller Range EL2351 ‐ Tolukuma ELA2529 ‐ Gazelle	100% Frontier Gold PNG Ltd 100% Frontier Copper PNG Ltd 100% Frontier Copper PNG Ltd 100% Frontier Copper PNG Ltd	22 56 130 211	75.02 190.46 441.72 719.51	07‐Jul‐08 31‐Dec‐15 25‐Feb‐19 N/A	06‐Jul‐20 30‐Dec‐19 24‐Feb‐21 N/A
	Total of Granted EL's	208	707.20

*1 sub‐block approx. 3.41 sq.km

NB: The PNG Mining Act‐1992 stipulates that EL's are granted for a renewable 2 year term (subject to satisfying work and expenditure commitments) and the PNG Government maintains the right to purchase up to 30% project equity at "Sunk Cost" if/when a Mining Lease if granted.

Table 1 Report of Exploration Results

Section 1 Sampling Techniques and Data

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

Criteria	JORC Code explanation	JORC Code explanation		Commentary
Sampling		Nature and quality of sampling (eg cut channels, random		Drill core samples were sawn in two, with half returned to the
techniques		chips, or specific specialised industry standard		core tray for visual inspection, and the other half sent to the
		measurement tools appropriate to the minerals under		TGM lab for assaying. No downlhole logging by a Sonde was
		investigation, such as down hole gamma sondes, or		undertaken.
		handheld XRF instruments, etc). These examples should		Sampling was supervised and reported by on-site geologists
		not be taken as limiting the broad meaning of sampling.		to ensure sample representivity.
		Include reference to measures taken to ensure sample		Material aspects of the mineralisation are noted in the text of
		representivity and the appropriate calibration of any		the document.
		measurement tools or systems used.		Diamond core HQ drilling has been done to obtain mineralized
		Aspects of the determination of mineralisation that are		vein sections in multiples of 50cm then to work back to the
		Material to the Public Report.		remainder of the core section to be assayed at intervals
		In cases where ‘industry standard’ work has been done this		marked by the site geologist and separated by wooden core
		would be relatively simple (eg ‘reverse circulation drilling		markers. 2kg samples were crushed to -2mm and split by
		was used to obtain 1 m samples from which 3 kg was		Riffle Jones splitter then 300g were pulverized <75 microns
		pulverised to produce a 30 g charge for fire assay’). In other		with a final 20g submitted for assay.
		cases more explanation may be required, such as where
		there is coarse gold that has inherent sampling problems.
		Unusual commodities or mineralisation types (eg submarine
		nodules) may warrant disclosure of detailed information.
Drilling		Drill type (eg core, reverse circulation, open-hole hammer,		DT250P man portable dril rig.
techniques		rotary air blast, auger, Bangka, sonic, etc) and details (eg		HQ diamond core not orientated with no downhole surveys
		core diameter, triple or standard tube, depth of diamond		being undertaken.
		tails, face-sampling bit or other type, whether core is
		_oriented and if so, by what method, etc). _
Drill sample		Method of recording and assessing core and chip sample		Core was visually assessed on-site, on tables constructed at
recovery		recoveries and results assessed.		the core shed
		Measures taken to maximise sample recovery and ensure		Drilling recovery was essentially 70 – 95% with an average
		representative nature of the samples.		of 80%.
		Whether a relationship exists between sample recovery and		A change of type of diamond impregnated bits and driller
		grade and whether sample bias may have occurred due to		experience contributed to improved recoveries however the
		preferential loss/gain of fine/coarse material.		weather or altered nature of the rock made 100% recoveries
				virtually impossible. No relationship exists between grade
				and recovery.
Logging		Whether core and chip samples have been geologically and		Drill core has been sampled logged on paper by an
		geotechnically logged to a level of detail to support		experienced geologist for alteration mineralogy, lithology and
		appropriate Mineral Resource estimation, mining studies		mineralization. Geotechnical parameters included recovery,
		and metallurgical studies.		strength and RQD to a level of detail to support appropriate
		Whether logging is qualitative or quantitative in nature. Core		Mineral Resource estimation, mining studies and
		(or costean, channel, etc) photography.		metallurgical studies. Core trays were photographed in two
		The total length and percentage of the relevant intersections		trays at a time. Part of the logging included unconfined
		logged.		compressive strength estimations.
				Logging was qualitative in nature and based on geological
				observations. Detailed geological descriptions are hand
				written into a drill log for each core section.
				The total length and 100% of all drill core was logged.
Sub-sampling		If core, whether cut or sawn and whether quarter, half or all		Drill core samples were sawn in two, with half returned to the
techniques and		core taken.		core tray for visual logging and all the other half sent to the
sample		If non-core, whether riffled, tube sampled, rotary split, etc		TGM lab for assaying.
preparation		and whether sampled wet or dry.		Drill half core 2kg samples were submitted to the Laboratory
		For all sample types, the nature, quality and		for sample preparation and assaying.
	 	appropriateness of the sample preparation technique. Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.		Sampling has been supervised by Senior Geologist and core sample sizes of 50cm as determined by the geologist by visual inspection are appropriate for the quartz vein material being sampled. Core was transported to the laboratory inside a helicopter.
		Whether sample sizes are appropriate to the grain size of		A suite of 33 core samples were submitted for petrological
		the material being sampled.		evaluation and nativegold was sighted in one sample.
Quality of assay		The nature, quality and appropriateness of the assaying and		Historical procedures undertaken by TGM were appropriate.
data and		laboratory procedures used and whether the technique is		Half drill core samples crushed and prepared as 20g samples
laboratory tests		considered partial or total.		for assaying for a partial aqua regia digest and AAS for Au,
		For geophysical tools, spectrometers, handheld XRF		Ag, Pb, Cu, Zn, Sb and Fe. 0.5g samples were submitted for
		instruments, etc, the parameters used in determining the		Hg by cold vapour AAS. The principle of Aqua Regia digest
		analysis including instrument make and model, reading		is that gold can be dissolved by a mixture of 3 part
		times, calibrations factors applied and their derivation, etc.		hydrochloric acid to one part nitric acid.
		Nature of quality control procedures adopted (eg standards,		Geophysical 3D modelling was undertaken on historical
		blanks, duplicates, external laboratory checks) and whether		airborne magnetic data using standard cesium vapor
		acceptable levels of accuracy (ie lack of bias) and precision have been established.		magnetometers. Acceptable levels of accuracy were obtained in the assaying
				results of Au 0.01 ppm, Cu 1 ppb, Ag0.01 ppm.

Criteria	JORC Code explanation	JORC Code explanation				Commentary
Verification of		The verification of significant intersections by either		Verified by senior geologist and other geologists onsite at
sampling and		independent or alternative company personnel.		the time.
assaying		The use of twinned holes.		There were no twinned drill hole.
		Documentation of primary data, data entry procedures, data		All assay data is stored on		printed laboratory paper and stored
		verification, data storage (physical and electronic) protocols.		in reports submitted to	the MRA library as paper copies which
		Discuss any adjustment to assay data.		were later scanned to digital format.
Location of data		Accuracy and quality of surveys used to locate drill holes		Drill holes were located initially by GPS tape and compass
points		(collar and down-hole surveys), trenches, mine workings		surveying for drill sections and long sections.
		and other locations used in Mineral Resource estimation.		Map Datum is AGD66.
		Specification of the grid system used.		Topographic control is	low with 40m contours from 1:100,000
		Quality and adequacy of topographic control.		plans and 10m contours from airborne DTM contours.
Data spacing and		Data spacing for reporting of Exploration Results.		Refer to any attached plans for drill hole collar locations.
distribution		Whether the data spacing and distribution is sufficient to		Drill hole locations and		trench locations and hence data
		establish the degree of geological and grade continuity		spacing and distribution is sufficient to establish the degree of
		appropriate for the Mineral Resource and Ore Reserve		geological and grade	continuity appropriate for the Mineral
		estimation procedure(s) and classifications applied.		Resource and Ore Reserve estimation procedures. Additional
		Whether sample compositing has been applied.		drillholes database information is being gathered prior to
				undertaking a resource estimate.
				Sample compositingwas not applied.
Orientation of		Whether the orientation of sampling achieves unbiased		Drill holes are designed to intersect known mineralisation
data in relation to		sampling of possible structures and the extent to which this		from surface trench	results in a nominally perpendicular
geological		is known, considering the deposit type.		orientation as much as is practicable. Sample intervals are
structure		If the relationship between the drilling orientation and the		selected based upon	observed geological features and the
		orientation of key mineralised structures is considered to		strike of the narrow quartz veins.
		have introduced a sampling bias, this should be assessed		Drillhole samples have been taken perpendicular to known
		and reported if material.		structures to reduce	any sampling bias and all intercepts
				have been calculated	to a true vein width.
Sample security		The measures taken to ensure sample security.		Access to site is controlled and core samples stored on-site in
				a remote location. Site employees transport samples to the
				analytical lab by helicopter. The laboratory compound is
				secured.
Audits or reviews		The results of any audits or reviews of sampling techniques		No audits or reviews of sampling techniques and data have
		and data.		beenperformed.

Section 2 Reporting of Exploration Results

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

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
Mineral tenement		Type, reference name/number, location and ownership		Frontier Resources Ltd have a 100% ownership of Frontier
and land tenure		including agreements or material issues with third parties		Copper (PNG) Limited, which hold 100% title to Exploration
status		such as joint ventures, partnerships, overriding royalties,		Licences EL 2531-Tolukuma and EL2356-Muler Range.
		native title interests, historical sites, wilderness or national		There are no joint ventures or partnerships in place with
		park and environmental settings.		these two projects. Frontier Copper PNG Ltd IPA
		The security of the tenure held at the time of reporting along		Certification Number: 91414 was re-issued on 26thApril
		with any known impediments to obtaining a licence to operate		2019 and originally Certified 8thNovember 2005.
		in the area.		There are no known impediments to operate in the
				Tolukuma and Muller Range EL’s. Tenements are granted
				by the Minister of Mines for a period of two years and
				security is governed by the PNG Mining Act 1992 and
				Regulation. EL applications require landowner meetings
				and review by the Mining Advisory Council who make their
				recommendations to the Minister of Mines.
Exploration done		Acknowledgment and appraisal of exploration by other		EL2531 Tolukuma was initially stream sampled by Kenecott
by other parties		parties.		in the 1960’s afterwards by CRAE who completed both
				steam sediment sampling and rock chip sampling.
				Newmont 1985-1989 discovered the Tolukuma vein and
				completed costean and soil sampling and diamond drill
				holes testing the NW-SE Taula Vein. Newmont completed
				resource drilling and mine feasibility studies.
				Dome Resources purchased the Exploration license from
				Newmont in 1992 and completed feasibility studies in the
				ML104, granted in 1994, with production commencing in
				1995.
				In 2000, Durban Roodepoort Deep purchased Dome
				Resources and took over all its interests in PNG. TGM’s
				work programmes (now 100% DRD included trench
				sampling and mapping. Work commenced at Saki in 2002
				with a programme of extensive trench sampling and
				mapping and drilling at the Kunda prospect both inside
				ML104 and within the current EL2531.
				Petromin PNG Holdings acquired 100% of the Tolukuma
				projects from Emperor Mines in 2008. Singapore company
				Asidokona purchased Tolukuma Gold Mines Ltd from
				Petromin(PNG Government)in November 2015.
Geology		Deposit type, geological setting and style of mineralisation.		The Saki group of vein systems are intrusive related
				epithermal Au-Ag quartz veins hosted within rocks of the
				Pliocene to Miocene Mt.Davidson Volcanics comprised of a

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
				complex of Andesitic flow units and Pyroclastic flow units
				that have been subsequently intruded by quartz Diorites
				and Monzonites
				Mineralisation is described in the text..
Drill hole		A summary of all information material to the understanding of		A summary of all drillhole information is noted within
Information		the exploration results including a tabulation of the following		Tables in the text of this report.
		information for all Material drill holes:		Frontier is in the process of acquiring additional historical
		o easting and northing of the drill hole collar		reports which have drillhole information as well as acquiring
		o elevation or RL (Reduced Level – elevation above sea		the digital drillhole database.
		level in metres) of the drill hole collar
		o dip and azimuth of the hole
		o down hole length and interception depth
		o hole length.
		If the exclusion of this information is justified on the basis that
		the information is not Material and this exclusion does not
		detract from the understanding of the report, the Competent
		Person should clearly explain why this is the case.
Data aggregation		In reporting Exploration Results, weighting averaging		Exploration results are reported typically within veins. The
methods		techniques, maximum and/or minimum grade truncations (eg		grades are compiled using length weighting.
		cutting of high grades) and cut-off grades are usually Material		No metal equivalent values are stated.
		and should be stated.
		Where aggregate intercepts incorporate short lengths of high
		grade results and longer lengths of low grade results, the
		procedure used for such aggregation should be stated and
		some typical examples of such aggregations should be shown
		in detail.
		The assumptions used for any reporting of metal equivalent
		values should be clearly stated.
Relationship		These relationships are particularly important in the reporting		The relationship between mineralisation widths & intercept
between mineralisation		of Exploration Results. If the geometry of the mineralisation with respect to the drill		lengths from trench/costeans is moderately well understood.
widths and intercept lengths		hole angle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole _length, true width not known’). _		Drillholes are generally targeted perpendicular to known veins. True width projections are noted in Tables within the text of this report.
Diagrams		Appropriate maps and sections (with scales) and tabulations		Appropriate maps, sections and tabulations of drill
		of intercepts should be included for any significant discovery		intercepts are included.
		being reported These should include, but not be limited to a
		plan view of drill hole collar locations and appropriate
		sectional views.
Balanced		Where comprehensive reporting of all Exploration Results is		Comprehensive reporting of all drilling results has occurred
reporting		not practicable, representative reporting of both low and high		in historical reports and reported here where appropriate.
		grades and/or widths should be practiced to avoid misleading
		reporting of Exploration Results.
Other substantive		Other exploration data, if meaningful and material, should be		All meaningful exploration data has been included to date
exploration data		reported including (but not limited to): geological observations;		in this and previous ASX announcements.
		geophysical survey results; geochemical survey results; bulk		3D magnetic modelling results have been undertaken
		samples – size and method of treatment; metallurgical test		using University of British Columbia developed algorithms
		results; bulk density, groundwater, geotechnical and rock		and applied by an independent geophysics consultancy.
		characteristics; potential deleterious or contaminating		Frontier is in the process of acquiring additional drillhole
		substances.		reports and a digital database.
				Ground geophysical 3DIP modelled results have been
				acquired and is currently being interpreted by Frontier.
				A petrological study of drillcore samples was completed by
				TerryLeach and Co in 2003.
Further work		The nature and scale of planned further work (eg tests for		Future work compiling existing historical reports, drillhole
		lateral extensions or depth extensions or large-scale step-out		data and geophysical data is required before considering
		drilling). Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	 	resource estimation, pre-feasibility studies ahead of further trenching and drilling. Appropriate plans are included where possible. The nature of planned further work is provided in the body of text.