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GATEWAY MINING LIMITED Capital/Financing Update 2021

Dec 21, 2021

64999_rns_2021-12-21_ec5f010f-93e7-4fa7-a51b-73b324d76032.pdf

Capital/Financing Update

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ABN: 31 008 402 391 Level 11, 52 Phillips Street Sydney NSW 2000 GPO Box 225 Sydney NSW 2001 Tel: 61 2 8316 3998 Fax: 61 2 8316 3999 Website: www.gatewaymining.com.au LinkedIn: @gateway-mining Twitter: @gateway_mining

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ASX Announcement: 22 December 2021

RC DRILLING EXTENDS EVERMORE TO THE NORTH-EAST

Resource extension drilling returns a high-grade intercept of 21m @ 1.7g/t Au within the highpriority granodiorite contact zone between the Evermore and Whistler deposits

HIGHLIGHTS

  • Reverse Circulation (RC) drilling has confirmed strong potential to further expand the current 67,000oz Inferred Mineral Resource at the Evermore deposit[1] , with high-grade mineralisation intersected to the north-east, outside the existing Resource area

  • Drilling to test for north-eastern extensions of Evermore around the “nose” of the Montague Granodiorite toward the Whistler deposit returned:

  • GRC717: 21m @ 1.7g/t Au from 132m including 2m @ 9.3g/t Au

  • In addition, step-out drilling to extend the main Evermore structure to the north intersected:GRC718: 8m @ 1.8g/t Au from 42m

  • All holes drilled are located outside the current Mineral Resource envelope.

  • Mineralisation appears to continue around the margin of the Montague Granodiorite towards the Whistler deposit (120,000oz Au Inferred Resource[2] ).

  • The North-west Margin of the Montague Granodiorite continues to demonstrate the characteristics of a major gold system, representing an exciting exploration target.

  • RC drilling in 2022 will continue Gateway’s strategy of identifying and testing advanced targets within 5km of the Montague Granodiorite.

Gateway Mining Limited (ASX: GML) ( Gateway or Company ) is pleased to advise that shallow Reverse Circulation ( RC ) drilling at the Evermore deposit, part of its 1,000km[2] Gidgee Gold Project in the Murchison District of Western Australia, has confirmed strong potential to further increase the recently announced 67,000oz Au maiden Inferred Mineral Resource Estimate.

The drilling program was undertaken in September to test the northern and north-eastern extents of the Evermore deposit, which was discovered by Gateway in 2020. The drilling focused both on extending the main host shear at Evermore to the north, as well as testing for extensions around the “nose” of the Montague Granodiorite towards the Whistler deposit (120,000oz Inferred Resource) to the east (Figure 1).

Results from both areas returned strong gold mineralisation, particularly to the north-east along the margins of the granodiorite where a broad intercept of 21m @ 1.7g/t Au from 132m was returned from hole GRC717.

Management Comment

Gateway’s Managing Director, Mr Mark Cossom, said: “This is a very exciting outcome coming hard on the heels of our recently-announced 67,000oz maiden Mineral Resource Estimate for the Evermore deposit.

1 1,319,000t @ 1.6g/t for 67,000oz Inferred. See ASX announcement dated 14 December 2021. 2 1,700,00t @ 2.2g/t for 120,000oz Inferred. See ASX announcement dated 3 October 2019.

“The initial assays from this drill program indicate compelling potential to rapidly extend the current Evermore Resource to the north-east along the margin of the Montague Granodiorite contact, as well as along the shear zone to the north.

“We are particularly excited by the opportunity to further test the granodiorite contact between Evermore and Whistler. This granodiorite contact zone hosts all our existing gold deposits at Gidgee, and this relatively untested area, which sits between two known gold deposits, represents a high-priority exploration target.

“We’ll be back on the ground in early 2022 to kick off our next round of drilling, targeting Evermore as well as other priority targets with near-term Resource potential.”

The new results extend the footprint of the Evermore deposit, being located outside the recent maiden Mineral Resource Estimate announced on 14 December 2021.

The drill program comprised a total of six holes for 770m of RC drilling completed on two separate drill sections. One section was drilled on a north-south orientation and was designed to test the “nose” of the granodiorite dome between Evermore and Whistler. The second, orientated east-west, was drilled to step-out 50m north of the previous extents of drilling to test the main moderately-dipping shear structure at Evermore (Figure 3).

The Evermore deposit was discovered by Gateway in 2020 by systematically drill-testing the north-western margin of the Montague Granodiorite dome between the 163,000oz Indicated and Inferred Montague-Boulder deposit[3] and the 120,000oz Inferred Whistler deposit[4] .

This initial RC drilling, which successfully intersected mineralisation over approximately 1.2km at Evermore, was used to underpin the recently announced maiden 67,000oz Inferred Resource at Evermore[5] , while also indicating that the mineralisation remained open to the north.

Following the completion of the Resource drilling, the focus shifted to test for extensions of the mineralisation further to the north-east, around the “nose” of the granodiorite dome, toward the Whistler deposit.

Diamond drilling completed by Gateway in 2021, part-funded by the WA Government’s Exploration Incentive Scheme, indicated that the northern end of the granodiorite dome is plunging steeply to the south. As such, a section of RC holes orientated from south to north were drilled to adequately test this “nose” area. Excitingly, drilling intersected silicified and bleached granodiorite with trace pyrite-chalcopyrite sulphides, with significant intersections returned of:

GRC717: 21m @ 1.7g/t Au from 132m including 2m @ 9.3g/t Au; and 3m @ 1.1g/t Au from 163m (EOH)

The entire northern end of the Montague Granodiorite remains an exciting exploration target, being a prime geological setting immediately proximal to two established gold deposits, and with the majority of drilling being shallow and orientated in an east-west direction. Further drilling to expand on this intersection will be undertaken in early 2022.

In addition, a series of RC holes were drilled to step-out to the north of the previous limit of drilling on the main Evermore host structure. These holes were designed to scope the potential for shallow strike extensions to the current 67,000oz Inferred Resource. These holes successfully intersected the moderately west-dipping, biotitealtered shear zone within the western basalt sequence, and returned a significant oxide zone intersection of:

GRC718: 8m @ 1.8g/t Au from 42m

As illustrated in Figure 2, this intersection opens the northern strike extent of the Evermore deposit, where no drilling has been undertaken to sufficient depth to test for mineralisation (Figure 2). Further drilling to test the strike potential of the Evermore deposit will be undertaken in early 2022.

A full table of significant intersections is included in Table 1 of this release, with details of the drilling provided in the JORC (2012) Table 1 included as an appendix.

3 3,078,000t @ 1.7g/t for 163,000oz. See ASX announcement dated 14 December 2021. 4 1,700,00t @ 2.2g/t for 120,000oz Inferred. See ASX announcement dated 3 October 2019. 5 1,319,000t @ 1.6g/t for 67,000oz Inferred. See ASX announcement dated 14 December 2021.

Exploration Forward Planning

Preparations are underway for the re-commencement of exploration field activities in early 2022. Field programs have been designed to continue executing Gateway’s strategy of systematically testing targets within 5km of the Montague Granodiorite dome and its existing Mineral Resources (Figure 4).

A comprehensive drill campaign is scheduled to commence at the beginning of February 2022, which will comprise both RC and air-core programs designed to evaluate the near-term Mineral Resource potential of key targets including:

  • Julias/Flametree – Systematic RC drilling of established shallow oxide mineralisation.

  • Monarch – Maiden RC testing of an exciting 5.8km long gold-in-soil anomaly associated with historical underground workings and outcropping quartz veins of up to 18.7g/t Au[6] .

  • Kashmir – Follow-up RC drilling of this 2.5km long anomaly immediately north of the 204,000oz Howards deposit owned by Horizon Gold Ltd (ASX: HRN).

  • Evermore – Additional RC drilling to test the northern and eastern extensions reported in this release, as well as in-fill areas of the Evermore deposit where existing data density is insufficient for estimation of a JORC (2012) Mineral Resource.

  • Julias North-east – Systematic air-core drilling directly along strike of the Julias mineralisation, where no drilling has historically been completed.

  • Monarch South – Comprehensive air-core drilling to evaluate the southern extents of the Monarch system, where transported overburden has made soil sampling ineffective.

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Figure (1): Oblique view towards north showing the “nose” of the Montague Granodiorite dome, highlighting the existing Montague-Boulder, Evermore and Whistler deposits and recent drill intersections.

6 See ASX Release dated 26 August 2021.

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Figure (2): Evermore North recent RC drilling and Figure (3): Evermore North RC drilling location plan. significant intercepts.

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Figure (4): Montague Granodiorite dome target locations.

This released has been authorised by:

Mark Cossom Managing Director

For and on behalf of

GATEWAY MINING LIMITED

Competent Person Statement

The information in this report that relates to Exploration Results or Mineral Resources is based on information compiled or reviewed by Mr Stuart Stephens who is a full-time employee of Gateway Mining Ltd and is a current Member of the Australian Institute of Geoscientists. Mr Stephens owns options in Gateway Mining Ltd. Mr Stephens has sufficient experience, which is relevant to the style of mineralisation and types of deposit under consideration and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code of Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Stephens consents to the inclusion in the report of the matters based on the information in the form and context in which it appears.

Investors Media Mark Cossom Nicholas Read Managing Director Read Corporate T: 02 8316 3998 T: 08 9388 1474 or Kar Chua Company Secretary T: 02 8316 3998

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Follow us on: LinkedIn: @gateway-mining Twitter: @gateway_mining

TABLE (1): EVERMORE NORTH RC DRILLING SIGNIFICANT INTERCEPT TABLE

Hole ID MGA_E MGA_N RL Hole
Depth
(m)
Dip/Azi From
(m)
To
(m)
Width
(m)
Au
(g/t)
Comment
GRC715 751300 6968227 513 180 -60/000 NSA
GRC716 751300 6968147 513 168 -60/000 NSA
GRC717 751303 6968064 512 168 -60/000 132 153 21 1.7 inc 2m @ 9.3g/t Au
163 166 3 1.1 Mineralisation at base
of hole
GRC718 751079 6968200 514 70 -60/90 42 50 8 1.8
GRC719 751044 6968199 514 84 -60/90 NSA
GRC720 751004 6968199 514 100 -60/90 NSA

Notes:

  • All coordinates located in MGA (GDA94) Zone 50. Azimuth is magnetic degrees

  • RL’s are nominal

  • Samples are 1m in length

  • Significant intersections are calculated based on a minimum of 1m greater than 1.0g/t Au with a maximum of 6m of internal dilution

  • Au assayed by 50g Fire Assay with AAS finish at ALS Laboratories Brisbane and Perth

  • NSA – No Significant Assay

APPENDIX (1)

About the Gidgee Gold Project

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Gidgee Gold Project Tenement Location Diagram

APPENDIX (2): EVERMORE NORTH DRILLING SEPTEMBER 2021 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 (e.g. 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 (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from
which 3 kg was pulverized 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 (e.g. submarine nodules) may warrant disclosure of detailed information.

RC drilling (GRC prefix) - 2kg - 3kg samples were split from dry 1m bulk
samples. The sample was initially collected from the cyclone in an inline
collection box. Once the metre was completed the sample was dropped under
gravity thorough a Metzke cone splitter, with the 1m split for assay collected in
a calico bag.

The bulk reject from the sample was collected in wheelbarrows and dumped
into neat piles on the ground.

RC Field duplicates were collected at a ratio of 1:50 and collected at the same
time as the original sample through the B chute of the cone splitter. OREAS
certified reference material (CRM) was inserted at a ratio of 1:50. The grade
ranges of the CRM’s were selected based on grade populations and economic
grade ranges.
Drilling
techniques

Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast,
auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or standard
tube, depth of diamond tails, face-sampling bit or other type, whether core is
oriented and if so, by what method, etc.).

RC – Challenge Drilling drill rig was used. The rig consisted of a truck mounted
RC rig with on board compressor, an on board Booster, and a truck mounted
auxiliary compressor.
Drill
sample
recovery

Method of recording and assessing core and chip sample recoveries and
results assessed.

Measures taken to maximize 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.

During the RC sample collection process, the sample sizes were visually
inspected to assess drill recoveries.

The majority of samples were of good quality with ground water having minimal
effect on sample quality or recovery.

From the collection of recovery data, no identifiable bias exists.
Logging
Whether core and chip samples have been geologically and geotechnically
logged to a level of detail to support appropriate Mineral Resource estimation,

RC chips were washed and stored in chip trays in 1m intervals for the entire
length of each hole. Chips were visually inspected and logged to record
lithology,weathering,alteration,mineralisation,veiningand structure.
Criteria JORC Code explanation Commentary
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.

Data on rock type, deformation, colour, structure, alteration, veining,
mineralisation and oxidation state were recorded.

Logging is both qualitative and quantitative or semi quantitative in nature.
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.

RC Samples were split from dry, 1m bulk sample via a cone splitter directly
from the cyclone.

The QC procedure adopted through the process includes:

Field duplicates were collected at a rate of 1:50, these were collected
during RC drilling at the same time as the primary sample.

OREAS certified material (CRM) was inserted at a rate of 1:50, the grade
ranges of the CRM’s were selected based on grade populations.

0.8-3kgs of sample was submitted to the laboratory.

Samples oven dried then pulverized in LM5 mills to 85% passing
75micron.

All samples were analysed for Au using the Au-AA26 technique which is
a 50g lead collection fire assay.
Quality
of
assay
data
and
Laboratory
tests

The nature, quality and appropriateness of the assaying and laboratory
procedures used and whether the technique is considered partial or total.

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 (e.g. standards, blanks,
duplicates, external laboratory checks) and whether acceptable levels of
accuracy (i.e. lack of bias) and precision have been established.

Drill samples were submitted to ALS (Perth). All samples were analysed by a
50g fire assay (AAS finish) which is a total digest assay technique. Due to
industry-wide pressure on fire-assay capacity, some prepped samples were
transported to ALS Brisbane for fire assay.

RC Field duplicates were collected at a rate of 1:50 with CRM’s inserted at a
rate of 1:50 also. The grade ranges of the CRM’s were selected based on grade
populations.
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.

Drilling results are cross checked by company geologists.

Data is recorded digitally at the project within MicroMine Geobank software,
assay results are received digitally.

All data is stored within DataShed SQL Database.
Location
of
datapoints

Accuracy and quality of surveys used to locate drill holes (collar and down-hole
_surveys), trenches, mine workings and other locations used in Mineral _

Initial drill hole location is initially recorded with a handheld Garmin GPS (+/-
3m). A Reflex EZ NorthSeeking Gyrois used torecord the deviationofthe drill
Criteria JORC Code explanation Commentary
Resource estimation.

Specification of the grid system used.

Quality and adequacy of topographic control.
holes (+/- 1deg). All collars were surveyed post-drilling utilising RTK-GPS.
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.

Refer to tables within text for data spacing.

Holes drilled within this program are not considered to be of suitable data
spacing. for use in an Inferred Mineral Resource estimation.
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.

The drilling was orientated perpendicular to the perceived strike of the
mineralised structures, with holes testing east-dipping structures drilled to the
west, and holes testing south dipping structures drilled to the north. Inclined
holes (-60°) are considered to be appropriate to the dip of the mineralised
structure creating minimal sampling bias.
Sample
security

The measures taken to ensure sample security.

Calico samples are sealed into green/poly weave bags and cable tied. These
are then sealed in bulka bags and transported to the laboratory in Perth by
company staff or contractors or established freight companies.
Audits
or
reviews

The results of any audits or reviews of sampling techniques and data.

Drilling results are cross checked by company geologists.

Section 2 Reporting of Exploration Results

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

Criteria **JORC Code explanation ** Commentary
Mineral
tenement and
land
tenure
status

Type, reference name/number, location and ownership including agreements
or material issues with third parties such as joint ventures, partnerships,
overriding royalties, native title interests, historical sites, wilderness or national
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.

E57/888 is held under Gateway Mining Ltd 100%.

No Native Title claims are lodged over the tenements.
Exploration
done by other
parties

Acknowledgment and appraisal of exploration by other parties.

Gold was discovered in the district during the gold rush era, first records of
gold won from small-scale, high-grade workings include the Montague Mining
Centre (1904-13). Renewed interest in the late 1960's included base metal
exploration carried out within exposed stratigraphy of the Montague Ranges
(Bungarra Ranges), exploration interest that broadened with the release of the
Sandstone 1:250,000 aeromagnetic sheet in 1970 resulting in the staking of
favourable magnetic anomalies by exploration companies.

Early explorers in the Montague Ranges included Anaconda Australia Inc.
(1966-67), followed by International Nickel Australia (1971-75) evaluating a
Gabbro - banded differentiated basic complex believed prospective for copper
and/or nickel such as the Dulith Gabbro, USA. Strong geophysical and
mineralised anomalism was encountered, however, copper-zinc enrichment
was also encountered in adjacent felsic stratigraphy at Ed's Bore prospect,
which was followed-up by CRA Exploration (1983-1990) to intersect
polymetallic VMS enrichments at Bevan prospect (not substantively pursued).

At Montague, Western Mining Corporation (1976) conducted investigations for
copper and gold including soil sampling and IP surveying, which was followed
by CRA Exploration (1984-89) working concurrently with AMOCO Minerals
Australia Company (1984) and Clackline Refractories Ltd (from 1985 - to later
become Herald Resources) assessing/purchasing historic mine areas from Mr
W.J. Griffiths of Sandstone. RAB drilling penetrating transported cover resulted
in the virgin discoveries of NE Pit by AMOCO and Whistler deposit by CRA.
Later noted explorers included Dalrymple Resources NL (1987-1990)
intersecting gold at the Armada (Twister) prospect, and Arimco Mining (1990-
98) intersecting gold at Lyle prospect, Victory West prospect, and copper at
The Cup prospect (not substantively pursued).

The Montague Mining Centre produced approximately 150,000oz of gold
commencing in 1986 at Caledonian and NE Pits (Clackline), and continued at
Montague Boulder from 1988 (Herald), and was to close in 1993 after
completion of the Rosie Castle open cut (Herald). Whistler open cut was mined
from November 1990 (Polaris Pacific NL) and ore toll treated through the
Herald mill. Little attention was paid to mineralisation other than gold. Gateway
Mining in joint venture with Herald Resources continued exploration of the
Criteria **JORC Code explanation ** Commentary
Montague Mining Centre, Gateway also targeting poly-metallic intrusion
related - VMS models in the district from 2006.

Airport, Airport Sth, S Bend, Rosie Nth, Rosie Sth mineralisation was
discovered by Gateway Mining between 2007 and 2011 in RAB drilling and
later defined by RC drilling.
Geology
Deposit type, geological setting and style of mineralisation.

Gateway’s Gidgee Project is located in the Gidgee district in the Archean
Yilgarn Craton of Western Australia approximately 630km NE of Perth and
70km north from the township of Sandstone on the eastern central portion of
the Gum Creek Greenstone Belt, of the Southern Cross Province.
Metamorphic grade of the Gum Creek Greenstone Belt is estimated to be low-
grade greenschist facies.

Project lithology includes basalt/ash tuff/dolerite/gabbro, the Montague
Granodiorite sub-volcanic intrusion (calc-alkaline - FI), dacite volcanic flow/s
(FI), volcaniclastic sequences of felsic composition and epiclastic
conglomerates, ultramafic intrusives and external orogenic granite plutons.
Key regional characteristics of a Volcanic Arc Extensional Basin include calc-
alkaline bimodal volcanic sequences associated with extensive iron
formations. Later ENE-WSW orogenic compression event is characterised by
NNW regional scale faults/unconformities, NNW shearing and folding, slaty
cleavage has developed within sediments near a tight syncline fold closure
within the NE area of the project.
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.

Exploration drill results from recent drilling, and associated details are
contained in Table 1 of this release. Historic intersections mentioned in this
release have been previously released by Gateway in various ASX releases,
which can be accessed on the Gateway Mining Ltd website.
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.

Significant intersections are calculated as a minimum of 1m greater than 1.0g/t
Au with a maximum of 4m of internal dilution.

No high-grade cut-off has been applied.
Criteria
JORC Code explanation
Commentary
Criteria
JORC Code explanation
Commentary
Criteria
JORC Code explanation
Commentary

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
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’).

The drilling was orientated perpendicular to the perceived strike of the
mineralised structures targeted. Inclined RC holes (-60°) are perpendicular to
the dip of the mineralised structure creating minimal sampling bias.
Diagrams
Appropriate maps and sections (with scales) and tabulations of intercepts
should be included for any significant discovery being reported These should
include, but not be limited to a plan view of drill hole collar locations and
appropriate sectional views.

Appropriate maps are included in the announcement.
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.

The accompanying document is considered to be a balanced report with a
suitable cautionary note.
Other
substantive
exploration
data

Other exploration data, if meaningful and material, should be reported
including (but not limited to): geological observations; geophysical survey
results; geochemical survey results; bulk samples – size and method of
treatment; metallurgical test results; bulk density, groundwater, geotechnical
and rock characteristics; potential deleterious or contaminating substances.

The area has been covered by detailed ground gravity and airborne magnetic
surveys. The Montague Dome system was recently covered by a systematic
fine-fraction soil sampling program which highlighted a series of anomalies
corresponding to the mineralisation intercepted by this drilling.
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.

Further step-out RC drilling is planned to the north.