GALILEO MINING LTD — Capital/Financing Update 2020

Apr 14, 2020

==> picture [119 x 33] intentionally omitted <==

15 April 2020

ASX: GAL

Corporate Directory

Directors

Chairman & Managing Director Brad Underwood

Technical Director Noel O’Brien

Non-Executive Director Mathew Whyte

Projects

Fraser Range Project Nickel-Copper

Norseman Project Cobalt-Nickel-Copper

==> picture [121 x 122] intentionally omitted <==

Contact Details

T: +61 8 9463 0063 E: info@galmining.com.au W: www.galileomining.com.au 13 Colin St, West Perth, WA

PRIORITY DRILLING TO BEGIN NEXT WEEK AT THE LANTERN SOUTH PROSPECT

Highlights

• Program of Works approvals from the Mines Department have been received for priority drilling at the Lantern South Prospect

• 4000m aircore program to follow up along strike of RC drill hole LARC003 which returned a significant intersection of: 12m @ 0.38% Ni, 0.33% Cu from 124 metres down hole Including 5m @ 0.49% Ni, 0.46% Cu from 126m[1]

• Petrography confirms pentlandite and chalcopyrite magmatic sulphides in LARC003 from ultramafic rock similar to the geology at the Nova mine

• Aircore drilling program scheduled to commence next week

Galileo Mining Ltd (ASX: GAL, “Galileo” or the “Company”) is pleased to announce aircore drilling is scheduled to commence next week at the Lantern South Prospect in Western Australia’s Fraser Range Nickel Belt following receipt of Mines Department approvals for follow up drilling around the nickel-copper sulphide intersection.[(1)]

A 4000m aircore program is planned along strike of the sulphide mineralisation in LARC003 on the margin of a large intrusion with similar geology to the Nova ore body.

Over two kilometres of untested strike length occurs at the Lantern Prospect with a large magnetic feature interpreted to represent the contact between the prospective intrusions and their host rocks.

Commenting on the upcoming program Galileo Managing Director Brad Underwood said: “This next round of aircore drilling will be an important step in the follow-up exploration of the sulphides already discovered at the Lantern Prospect. With over two kilometres of untested strike length we are aiming to identify mineralisation similar to Nova-style nickel deposits. Our petrography results are again telling us we have the right rock types to host a nickel deposit and, with Legend Mining recently having made a discovery along strike at the Mawson Prospect, this is a very exciting time to be exploring in the Fraser Range.”

(1) Refer to the Company’s ASX announcement dated 17th March 2020, accessible at https://www.asx.com.au/asx/statistics/announcements.do?by=asxCode&asxCode=GAL&timeframe=Y&year=2020

==> picture [595 x 25] intentionally omitted <==

Page 1 | 13

==> picture [79 x 123] intentionally omitted <==

==> picture [120 x 32] intentionally omitted <==

Figure 1 – Lantern South Prospect with Untested Strike Length on TMI Aeromagnetic Background

==> picture [478 x 332] intentionally omitted <==

The Lantern Prospect lies approximately 50km along strike from Legend Mining’s Mawson Prospect (Figure 4) where a massive sulphide discovery was recently announced.[ (2)] Two priority targets have been developed in the Lantern area and have been renamed Lantern North and Lantern South (Figure 3). Lantern North is a large EM anomaly at around 340 metres depth while Lantern South contains disseminated nickel-copper sulphide at 110 metres depth. Both targets occur on the margin of a large gabbronorite intrusion measuring 2km by 2.3km on surface, similar to the dimensions of the Nova sill complex which measures 2.4km by 1.2km. (3)

A first-pass aircore drilling program at the Lantern South Prospect in 2019 identified a nickel and copper geochemical anomaly. RC drilling beneath this anomaly in March 2020 showed that it was caused by disseminated nickel-copper sulphide mineralisation. Galileo now plans to interrogate the two kilometres of strike around the sulphide intersection with additional aircore drilling for the purpose of identifying geochemical responses which, if found, are likely to be related to further sulphide mineralisation.

A 4000 metre aircore drilling program has been designed around and along strike of LARC003 which intersected the disseminated sulphides. A magnetic anomaly in the area is interpreted to represent the contact between prospective intrusive rocks and their host rocks (Figure 1).

(2) Refer to the Legend Mining’s ASX announcement dated 31st March 2020, accessible at

https://www.asx.com.au/asx/statistics/announcements.do?by=asxCode&asxCode=leg&timeframe=Y&year=2020

==> picture [595 x 25] intentionally omitted <==

Page 2 | 13

==> picture [79 x 123] intentionally omitted <==

==> picture [120 x 32] intentionally omitted <==

Petrography results from LARC003 show that prominent magmatic nickel-copper sulphides occur as veins, disseminations and stringers in a lherzolite (ultramafic) cumulate rock. The surrounding rocks are described as cumulate lherzolite and leucogabbronorite and are interpreted to form part of a layered intrusive complex.

The petrographic results and scale of Lantern South compare favourably with the Nova-Bollinger maficultramafic intrusion which measures approximately 2.4km by 1.2km. The intrusive rocks at Nova are described as peridotite (harzburgite or lherzolite), pyroxenite, gabbronorite and norite.[ (3)]

Having identified rock types with the potential to host magmatic nickel-copper deposits, Galileo has checked off an important milestone in the exploration for new deposits at the Lantern Prospect.

Figure 2 – Petrographic sections of rock chips from LARC003. Lherzolite (two chips on left), leucogabbronorite (centre chip) and hornblende lherzolite cumulate (two chips on right).

==> picture [464 x 187] intentionally omitted <==

Downhole electro-magnetic (EM) surveying has been undertaken at both the Lantern South and Lantern North targets. 200m square surface loops were used to provide an electrical source while a probe was run down the drill holes looking for subsurface responses. The results were inconclusive with no response obtained from the sulphide intersection in LARC003. Only a conductive response related to the cover rocks above the drill hole was detected. A diamond drill hole is currently being planned to test for mineralisation beneath LARC003.

Two RC drill holes at the Lantern North target were surveyed, however no response was recorded from the deep EM conductor originally detected by surface moving loop surveying. The drill holes at Lantern North extended to approximately 210m below surface and may not have come close enough to the deep conductor which has been modelled at 340m depth. A surface fixed loop EM survey is being planned to delineate the extent of the conductor at Lantern North to refine the target for drill testing.

(3) Refer to Parker et al. “Nova-Bollinger Ni-Cu-Co sulphide deposit” in Phillips, G.N. (ed), 2017. Australian Ore Deposits (The Australasian Institute of Mining and Metallurgy: Melbourne)

==> picture [595 x 25] intentionally omitted <==

Page 3 | 13

==> picture [79 x 123] intentionally omitted <==

==> picture [120 x 32] intentionally omitted <==

Sulphide zones that are semi-massive or heavily disseminated, rather than massive, may not be visible to EM methods while remaining economically attractive targets. Galileo will continue to use a combination of geophysical techniques including magnetic, gravity, EM and possibly IP data sets to focus on the sections of the intrusive complex with the greatest potential for mineralisation.

Figure 3 – Lantern North and South Prospects with surface MLEM image (channel 36) on left hand side and detailed TMI magnetic image on right hand side.

==> picture [244 x 358] intentionally omitted <==

==> picture [243 x 358] intentionally omitted <==

Figure 3 shows the response from ground moving loop EM surveying over the 2km by 2.3km intrusion (left image) with the image on the right clearly depicting the magnetic response. The best targets identified to date are on the margins of the intrusion, particularly at Lantern South, where ultramafic cumulate rocks containing sulphides have been drilled. The western and eastern flanks of the intrusion have yet to be drill tested and represent compelling targets based on available results. A first pass line of aircore drilling on the western flank of the large intrusion is included in the upcoming aircore program.

==> picture [595 x 25] intentionally omitted <==

Page 4 | 13

==> picture [79 x 123] intentionally omitted <==

==> picture [120 x 32] intentionally omitted <==

Figure 4 – Galileo Prospect Locations in the Fraser Range Nickel Belt

==> picture [447 x 579] intentionally omitted <==

==> picture [595 x 25] intentionally omitted <==

Page 5 | 13

==> picture [120 x 32] intentionally omitted <==

Competent Person Statement

The information in this report that relates to Exploration Results is based on, and fairly represents, information and supporting documentation prepared by Mr Brad Underwood, a Member of the Australasian Institute of Mining and Metallurgy, and a full time employee of Galileo Mining Ltd. Mr Underwood has sufficient experience that is relevant to the styles of mineralisation and types of deposit under consideration, and to the activity being undertaken, 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” (JORC Code). Mr Underwood consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

With regard to the Company’s ASX Announcements referenced in the above Announcement, the Company is not aware of any new information or data that materially affects the information included in the Announcements.

Authorised for release by the Galileo Board of Directors.

Investor information: phone Galileo Mining on + 61 8 9463 0063 or email info@galmining.com.au

Media:

David Tasker Managing Director Chapter One Advisors E: dtasker@chapteroneadvisors.com.au T: +61 433 112 936

About Galileo Mining:

Galileo Mining Ltd (ASX: GAL) is focussed on the exploration and development of nickel, copper and cobalt resources in Western Australia. GAL holds tenements near Norseman with over 26,000 tonnes of contained cobalt, and 122,000 tonnes of contained nickel, in JORC compliant resources (see Figure 5 below). GAL also has Joint Ventures with the Creasy Group over tenements in the Fraser Range which are highly prospective for nickel-copper-cobalt sulphide deposits.

Figure 5: JORC Mineral Resource Estimates for the Norseman Cobalt Project (“Estimates”) (refer to ASX “Prospectus” announcement dated May 25[th] 2018 and ASX announcement dated 11[th] December 2018, accessible at http://www.galileomining.com.au/investors/asx-announcements/). Galileo confirms that all material assumptions and technical parameters underpinning the Estimates continue to apply and have not materially changed).

Cut-off Cobalt %	Class	Tonnes Mt		Co		Ni
			%	Tonnes	%	Tonnes
MT THIRSTY SILL
0.06 %	Indicated Inferred Total	10.5 2.0 12.5	0.12 0.11 0.11	12,100 2,200 14,300	0.58 0.51 0.57	60,800 10,200 71,100
MISSION SILL
0.06 %	Inferred	7.7	0.11	8,200	0.45	35,000
GOBLIN
0.06 %	Inferred	4.9	0.08	4,100	0.36	16,400
TOTAL JORC COMPLIANT RESOURCES
0.06 %	Total	25.1	0.11	26,600	0.49	122,500

==> picture [595 x 25] intentionally omitted <==

Page 6 | 13

==> picture [79 x 123] intentionally omitted <==

==> picture [120 x 32] intentionally omitted <==

Appendix 1:

Location of RC drill holes surveyed with downhole EM

Hole ID	Prospect	East	North	RL	Dip	Azimuth	Depth	Target
LARC003	Lantern South	609712	6547838	180	-65	305	204	Sulphide target
LARC005	Lantern North	608703	6550600	188	-70	272	228	Surface EM target
LARC006	Lantern North	608920	6550599	189	-70	270	222	Surface EM target

Note: Easting and Northing coordinates are GDA94 Zone 51.

Appendix 2:

Galileo Mining Ltd – Fraser Range Project JORC Code, 2012 Edition – Table 1

Section 1 Sampling Techniques and Data

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

Criteria	JORC Code explanation	Commentary
Sampling techniques	• Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. • Aspects of the determination of mineralisation that are Material to the Public Report. • In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.	•Reverse Circulation (RC) drilling, was used to obtain one metre individually bagged chip samples. •Each RC bag was spear sampled to provide a 3-metre representative composite sample for analyses. •A 1m sample split for each metre is collected at the time of drilling from the drill rig mounted cone splitter. •QAQC standards (blank & reference) and duplicate samples were included routinely with 1 per 20 samples being a standard or duplicate. •Samples were sent to an independent commercial assay laboratory. •All assay sample preparation comprised oven drying, jaw crushing, pulverising and splitting to a representative assay charge pulp. •A 50g Lead Collection Fire Assay with ICP-MS finish was used to determine Au, Pt and Pd results •A four acid digest was used for a multi- element analysis suite including Ag, Al, As, Ba, Bi, Ca, Cd, Ce, Co, Cr, Cu, Fe, K, La, Li, Mg, Mn, Mo, Na, Ni, P, Pb, S, Sb, Sc, Sn, Sr,Te,Ti,Tl,V,W,Zn, by

==> picture [595 x 25] intentionally omitted <==

Page 7 | 13

	Criteria	JORC Code explanation	Commentary
			ICP-OESforallsamples.
	Drilling techniques	• Drill type (eg core, reverse circulation, open- hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face- sampling bit or other type, whether core is _oriented and ifso, by what method, etc). _	•RC drilling was undertaken using a 5.25“face sampling drill bit completed by Red Rock Drilling Pty Ltd.
	Drill sample recovery	• Method of recording and assessing core and chip sample recoveries and results assessed. • Measures taken to maximise sample recovery and ensure representative nature of the samples. • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	•Sample recoveries are visually estimated for each metre with poor or wet samples recorded in drill and sample log sheets. •The sample cyclone was routinely cleaned at the end of each 6m rod and when otherwise deemed necessary. •No relationship has been determined between sample recoveries and grade and there is insufficient data to determineifthereis a sample bias.
	Logging	• Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. • The total length and percentage of the relevant _intersections logged. _	•Geological logging of drill holes was done on a visual basis including lithology, grainsize, mineralogy, colour and weathering. •Logging of drill chips is qualitative and based on the presentation of the 1m samples in the chip trays. •All drill holes were logged in their entirety.
	Sub-sampling techniques and sample preparation	• If core, whether cut or sawn and whether quarter, half or all core taken. • If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. • For all sample types, the nature, quality and 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. • Whether sample sizes are appropriate to the grain size of the material being sampled.	•All initial RC drill samples were collected using a PVC spear as 3m composites (2-3kg). Other composites of 2m and individual 1m samples were collected where required ie, at the bottom of hole. •Selected 1m samples for intervals deemed of interest by the Geologist supervising the drill rig were submitted to the assay laboratory. These 1m samples were collected at the time of drilling from the drill rig mounted cone splitter. Additional 1m cone split samples for all holes at the Lantern Prospect may be submitted for assay at a later date. •The samples were dried and pulverised before analysis. •QAQC reference samples and duplicates were routinely submitted with each batch. •The sample size is considered appropriate for the mineralisation style, application and analytical techniques used.
	Quality of assay data	• The nature, quality and appropriateness of the	•RC Chip samples were analysed for a

==> picture [595 x 25] intentionally omitted <==

Page 8 | 13

	Criteria	JORC Code explanation	Commentary
	and laboratory tests	assaying and laboratory procedures used and whether the technique is considered partial or total. • For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. • Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.	multielement suite (33 elements) by ICP-OES following a four-acid digest. Assay for Au, Pt and Pd has been completed by 50gram Fire Assay with an ICP-MS finish. The assay methods used are considered appropriate. •QAQC standards and duplicates were routinely included at a rate of 1 per 20 samples •Further internal laboratory QAQC procedures included internal batch standards and blanks •Sample preparation was completed at Intertek Genalysis Laboratory, (Kalgoorlie) with digest and assay conducted by Intertek-Genalysis Laboratory Services (Perth) using a four acid (4A/OE33) for multi-element assay and 50gram Fire Assay with an ICP-MS finish for Au, Pt, Pd (FA50/MS).
	Verification of sampling and assaying	• The verification of significant intersections by either independent or alternative company personnel. • The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Discuss any adjustment to assay data.	•Field data is collected on site using a standard set of logging templates entered directly into a laptop computer. Data is then sent to the Galileo database manager (CSA Global - Perth) for validation and upload into the database. •Assays are as reported from the laboratory and stored in the Company database and have not been adjusted inanyway.
	Location of data points	• Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. • Specification of the grid system used. • Quality and adequacy of topographic control.	•RC drill hole collars are surveyed with a handheld GPS with an accuracy of +/-5m which is considered sufficient for drill hole location accuracy. •Co-ordinates are in GDA94 datum, Zone 51. •Downhole depths are in metres from surface. •Downhole surveys were completed on a per 30m basis and at end of hole using an Eastman electronic multi-shot tool •Topographic control has an accuracy of 2m based on detailed satellite imagery derivedDTM.
	Data spacing and distribution	• Data spacing for reporting of Exploration Results. • Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. • _Whether sample compositing has been applied. _	•LARC003 was placed to intercept the fresh rock beneath anomalism identified by aircore drilling. •LARC005 and LARC006 were designed to drill above an EM anomaly from surface surveying. The drill holes were then used as a platform for downhole EM surveying.

==> picture [595 x 25] intentionally omitted <==

Page 9 | 13

	Criteria	JORC Code explanation	Commentary
			•RC drilling was a first pass and the spacing and drillhole distribution is deemed insufficient to establish a JORC 2012 Compliant Resource. •Drill holes were sampled on a 3m composite basis or as 1m or 2m samples at the end of hole as required. Where anomalous values were expected by the geologist at the time of composite sampling, selected intervals of 1m samples collected from the drill rig mounted cone splitter were submittedforassay.
	Orientation of data in relation to geological structure	• Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. • If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	•It is unknown whether the orientation of sampling achieves unbiased sampling. •No drilling core has been completed for the measurement of possible structures. •Given the nature of mineralisation it is thought that the geometry is best described as subvertical however no quantitative measurements exist and all drill intercepts are reported as down hole length, true width unknown. •No quantitative measurements of mineralisedzones/structures exist.
	Sample security	• The measures taken to ensure sample security.	•Each sample was put into a pre- numbered draw string calico bag, tied off and then several placed in a large plastic “polyweave” bag which was zip tied closed. For transport, samples were placed on a clean ute tray and covered with a cargo cover to ensure no loss of material. •Samples were delivered directly to the laboratory in Kalgoorlie by Galileo’s freight contractor.
	Audits or reviews	• The results of any audits or reviews of sampling techniques and data.	•Continuous improvement internal reviews of sampling techniques and procedures are ongoing. No external auditshave beenperformed.

Section 2 Reporting of Exploration Results

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

Criteria	JORC Code explanation	Commentary
Mineral tenement and land tenure status	• Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical	•The Fraser Range Project comprises five granted exploration licenses, covering 446km2and one pending tenement covering 159 km2 •Kitchener JV tenement E28/2064 (67% NSZ Resources Pty Ltd, 33% Great Southern Nickel Pty Ltd).

==> picture [595 x 25] intentionally omitted <==

Page 10 | 13

	Criteria	JORC Code explanation	Commentary
		sites, wilderness or national park and environmental settings. • The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	•Yardilla JV tenements: E63/1539, E63/1623, E63/1624 (67% FSZ Resources Pty Ltd, 33% Dunstan Holdings Pty Ltd) •NSZ Resources Pty Ltd & FSZ Resources Pty Ltd are wholly owned subsidiaries of Galileo Mining Ltd. •Great Southern Nickel Pty Ltd and Dunstan Holdings Pty Ltd are entities of Mark Creasy •The Kitchener Area is approximately 250km east of Kalgoorlie on vacant crown land and on the Boonderoo Pastoral Station. •The Yardilla Area is approximately 90km east of Norseman on vacant crown land and on the Fraser Range Pastoral Station. •Both the Kitchener Area and the Yardilla Area are 100% covered by the Ngadju Native Title Determined Claim. •The tenements are in good standing and there are no known impediments.
	Exploration done by other parties	• Acknowledgment and appraisal of exploration by other parties.	•NA
	Geology	• Deposit type, geological setting and style of mineralisation.	•The target geology is indicative of magmatic sulphide mineralisation hosted in or associated with mafic-ultramafic intrusions within the Fraser Complex of the Albany-Fraser Orogeny. •The underlying unweathered lithology is granulite facies metamorphosed and partially retrogressed sedimentary, mafic and ultramafic igneous rocks as determined by petrographic work.
	Drill hole Information	• A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: o easting and northing of the drill hole collar o elevation or RL (Reduced Level – elevation above sea 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.	•Refer to drill hole collar reporting table in Appendix 1

==> picture [595 x 25] intentionally omitted <==

Page 11 | 13

	Criteria	JORC Code explanation	Commentary
	Data aggregation methods	• In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated. • 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.	•Weighted averaging has been used, based on the sample interval, for the reporting of drilling intercept results. •See Galileo Mining’s ASX announcement dated 17th March 2020 for previously reported assay details
	Relationship between mineralisation widths and intercept lengths	• These relationships are particularly important in the reporting of Exploration Results. • If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. • If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true _width not known’). _	•Geometry of the mineralisation is inferred from the aircore and RC drillholes data and is best described as sub-vertical. Drilling intercept data of lithologies implies an apparent dip of the prospective lithologies on NW-SE section of between 60 and 80 degrees to the southeast, however no reliable quantitative measurements exist.
	Diagrams	• Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate _sectional views. _	•Project location map and plan map of the drill hole locations with respect to each other and with respect to other available data. •Drill hole locations have been determined with hand-held GPS drill hole collar location (Garmin GPS 78s) +/- 5m in X/Y/Z dimensions
	Balanced reporting	• Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading _reporting of Exploration Results. _	•All available relevant information is presented.
	Other substantive exploration data	• Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater,	•Detailed 50m line spaced aeromagnetic data has been used for interpretation of underlying geology. Data was collected using a Geometrics G-823 Caesium vapor magnetometer at an average flying height of 30m. •Detailed gravity data has been used for interpretation of underlying geology. Data was collected using Scintrex CG-5 Autograv gravity meterspositioned usinga Leica GX1230 receiver

==> picture [595 x 25] intentionally omitted <==

Page 12 | 13

	Criteria	JORC Code explanation	Commentary
		geotechnical and rock characteristics; potential deleterious or contaminating substances.	and GNSS base station. •Petrography was undertaken by R.N. England Consulting Geologist •GEM Geophysics Pty Ltd was contracted to complete the Down Hole Electromagnetic (DHEM) survey. •DHEM survey data was collected with 200m square loops using a Smartem V system and an Atlantis probe. Z, X and Y component data were collected at a base frequency of 1Hz. •Maxwell software was utilised to process and model the DHEM data. •Modelling and interpretation of the DHEM survey geophysical data was undertaken by Spinifex Gpx Pty Ltd
	Further work	• The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling). • Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	•Aircore drilling around and along strike of the sulphide intercept in LARC003 at Lantern South Prospect to delineate the identified mafic-ultramafic complex and its potential associated mineralised portions. •Diamond drill hole testing beneath LARC003 •Fixed Loop EM survey at the Lantern North Prospect

==> picture [595 x 25] intentionally omitted <==

Page 13 | 13