GENESIS MINERALS LIMITED — Capital/Financing Update 2021

May 11, 2021

Genesis Minerals Limited (ASX: GMD) ASX Announcement – 12 May 2021

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SPECTACULAR HIGH-GRADE VISIBLE GOLD HIT: 5m @ 60.7g/t

Immediate success with step-out drilling beyond current resource at the Admiral deposit; Plus, resource upgrade and extensional drilling delivers strong results at Butterfly North

Key Points:

• Reverse Circulation (RC) drilling continues to confirm the potential to grow all key deposits which form part of Genesis Minerals’ 1.6Moz Ulysses Gold Project[1] near Leonora in WA and the exciting opportunity to make new discoveries.

Admiral

• Outstanding high-grade visible gold intercept returned from step-out drilling at the Admiral deposit:

o 5m @ 60.7g/t gold from 265m 21USRC892

• Mineralisation located ~120m vertically below the Admiral shear.

• High-grade gold zone may represent a new gold-bearing structure sub-parallel to the Admiral shear.

• Wide-spaced drilling continuing to systematically evaluate the area along strike from this outstanding intercept.

Butterfly North

• Significant assay results returned from initial Resource upgrade and extensional drilling at the Butterfly North deposit:

• 7m @ 1.60g/t gold from 49m 21USRC878

• 10m @ 1.57g/t gold from 5m 21USRC879

• 9m @ 0.63g/t gold from 17m 21USRC882

• 15m @ 1.34g/t gold from 62m 21USRC882

• 28m @ 1.38g/t gold from 79m 21USRC883

• 41m @ 1.03g/t gold from 46m 21USRC884

  • Including 14m @ 2.02g/t gold from 55m

• 17m @ 0.45g/t gold from 115m 21USRC884

• 12m @ 1.41g/t gold from 99m 21USRC885

• 4m @ 2.01g/t gold from 90m 21USRC886

• 10m @ 1.66g/t gold from 160m 21USRC888

• Significant open pit target zone at Butterfly North to be drilled over the remainder of the June Quarter.

Genesis Minerals Limited (ASX: GMD) is pleased to report significant new results from ongoing drilling aimed at growing the resource base at its 1.6Moz Ulysses Gold Project in Western Australia.

The latest results include a spectacular visible gold intercept in a potential new mineralised position at the Admiral Deposit and significant results from the Butterfly North deposit.

Drilling within the Admiral-Clark-Butterfly mine area (Figure 1) is targeting extensions to known deposits and potential new discoveries.

1 Refer to Table 1 of this announcement for details of the Resource estimate for the Ulysses Gold Project ABN: 72 124 772 041 ASX Code: GMD Unit 6, 1 Clive St www.genesisminerals.com.au West Perth, WA, Australia, 6005 T: +61 8 9322 6178

Genesis Minerals Limited

12 May 2021

The results being delivered demonstrate the outstanding potential to substantially expand the Mineral Resource base at Ulysses and identify new mineralised positions.

Management Comment

Commenting on the latest results, Genesis Managing Director, Michael Fowler, said:

“A standout drill intercept of 5 metres at 60.7g/t gold is always going to make investors sit up, particularly when it is located beyond the known resource envelope within a potentially entirely new mineralised position! This is what we appear to have at the Admiral deposit, with the caveat that more drilling is needed to evaluate the size, orientation and significance of this high-grade position.

“The broader message is that our step-out and discovery drilling program, which is designed to build on the 1.6 million Resource announced in late March, is well underway and is off to a great start. We are seeing clear potential to extend known deposits as well as the opportunity to make new discoveries across a gold field that essentially has had very little exploration attention in the past few decades.

“Our systematic exploration approach is paying dividends and, if the gold is there we are confident we will find it! We look forward to reporting more results in the coming weeks and months, and we are eagerly awaiting the results from a number of holes drilled in close proximity to the high-grade intercept in hole 21USRC892.

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Figure 1. Prospect location plan.

Admiral – Resource Growth Program

A program of five holes for 1,641m (21USRC892 to 896) was completed to commence testing of the Butterfly dolerite in the footwall (below) the Admiral shear, the Hercules shear at depth and targeting extensions to known structures as they extend to within the Butterfly North dolerite (See Figure 2).

High-grade gold was returned from 21USRC892 with a 5m composite sample returning 5m @ 60.7g/t Au from 265m. Coarse visible gold was observed between from 265m to 266m (see Figure 4). The intersection was hosted within the Butterfly dolerite and was associated with quartz veining and pyrite. One metre split intervals have been sent for analysis.

ASX Release: Spectacular High-Grade Visible Gold Hit: 5m @ 60.7g/t

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Genesis Minerals Limited

12 May 2021

Results for 21USRC893 to 896 are pending.

Resource growth drilling over the next two months will continue to systematically test initially on a wide spacing the footwall of the Admiral shear within the Butterfly dolerite and also the Butterfly North dolerite, which has had very limited drilling.

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Figure 2. Recent hole locations and results. Recent Genesis results shown in dark yellow boxes and historic results in white boxes. Position of cross-sections highlighted. Proposed drilling and holes with pending assays shown.

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Figure 3. Admiral 9,050E section looking west. The Admiral lode is controlled by the position of the Admiral shear.

ASX Release: Spectacular High-Grade Visible Gold Hit: 5m @ 60.7g/t

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Genesis Minerals Limited

12 May 2021

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Figure 4. Coarse gold from 21USRC892, 265 to 266m.

Butterfly North Program

Drilling at Butterfly North was completed as an initial test to expand the current Butterfly North Mineral Resource (see Figure 2) and gain a better understanding on the controls on gold mineralisation at the deposit.

A total of 11 RC holes for 1,483m (21USRC878 to 888) were completed, with drilling defining broad zones of gold mineralisation. The Butterfly North area is located approximately 200m north of the Clark and Butterfly Resource.

Results are shown in plan view in Figure 2 and in cross-section (local N-S orientated) in Figure 5 with all holes listed in Table 2. Drilling returned a number of significant results outside of the current Resource as shown in Figure 2.

Significant shallow gold results included:

o	7m @ 1.60g/t Au from 49m	21USRC878
o	10m @ 1.57g/t Au from 5m	21USRC879
o	9m @ 0.63g/t Au from 17m	21USRC882
o	15m @ 1.34g/t Au from 62m	21USRC882
o	28m @ 1.38g/t Au from 79m	21USRC883
o	41m @ 1.03g/t Au from 46m	21USRC884
	▪ Including 14m @ 2.02g/t Au from 55m
o	17m @ 0.45g/t Au from 115m	21USRC884
o	12m @ 1.41g/t Au from 99m	21USRC885
o	4m @ 2.01g/t Au from 90m	21USRC886
o	10m @ 1.66g/t Au from 160m	21USRC888

Gold mineralisation is interpreted to dip moderately to steeply to the north and is generally hosted within a dolerite unit adjacent to a small granite body. The significant mineralisation drilled to date remains open at depth and along strike and has been defined over ~200m of strike.

ASX Release: Spectacular High-Grade Visible Gold Hit: 5m @ 60.7g/t

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Genesis Minerals Limited

12 May 2021

Future drilling will continue to target extensions at depth and to the west and east with further drilling to be completed over the next three months.

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Figure 5. Local section 10,150E looking local grid west. Genesis new drilling intercepts in dark yellow boxes and historic intercepts in white boxes. Note recent intersections outside of current resource.

Danluce – King Extension Drilling

Extensional drilling in the Danluce to King area was completed as an initial, very wide-spaced test to expand the current Mineral Resources in the area (see Figures 2 and 6) and gain a better understanding of the controls on gold mineralisation.

A total of 17 RC holes for 1,849m (21USRC861 to 877) were completed at 400m/200m x ~80m grid spacing (local grid).

Results are shown in plan view in Figure 6 and all holes listed in Table 2. Drilling returned a number of significant results outside of the current Resource.

Significant shallow gold results included:

• 11m @ 0.89g/t Au from 16m 21USRC861

• o 2m @ 2.08g/t Au from 19m 21USRC862 o 4m @ 1.23g/t Au from 49m 21USRC862 o 10m @ 0.59g/t Au from 64m 21USRC862 o 6m @ 1.81g/t Au from 77m 21USRC864 o 11m @ 0.59g/t Au from 85m 21USRC865

ASX Release: Spectacular High-Grade Visible Gold Hit: 5m @ 60.7g/t

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Genesis Minerals Limited

12 May 2021

o 13m @ 0.50g/t Au from 98m 21USRC866

o 18m @ 1.18g/t Au from 64m 21USRC869 ▪ Including 8m @ 2.04g/t Au from 72m

o 1m @ 5.45g/t Au from 122m 21USRC874

Results confirmed the potenteital to extend all known mineralised structures along stike and at depth. A program of drilling is being planned to continue to systematically test this area.

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Figure 6. Recent hole locations and results. Recent Genesis results shown in dark yellow boxes. Proposed drilling and holes with pending assays shown.

Ulysses Project Upcoming Drilling

Ongoing drilling planned for the June 2021 Quarter will target:

• New discoveries within the Admiral-Clark-Butterfly mine environment.

• Extensions to the Orient Well March 2021 Resource at depth and along strike.

• New discoveries within the Orient Well mine environment targeting repetitions of the felsic volcanic host rock.

• Extensions to the March 2021 Admiral, Clark, Butterfly, King and Butterfly North Resources.

• Extensions of the new Puzzle North prospect and extensions and upgrading of the Puzzle Resource.

Air-core drilling in the June quarter will target the Ulysses to Orient Well mine corridor outside of the known resource areas.

ASX Release: Spectacular High-Grade Visible Gold Hit: 5m @ 60.7g/t

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Genesis Minerals Limited

12 May 2021

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Figure 7. Regional location plan.

This announcement is approved for release by Michael Fowler, Managing Director for Genesis.

ENDS

For further information, visit: www.genesisminerals.com.au or please contact

Investors: Media: Michael Fowler Nicholas Read Managing Director Read Corporate Genesis Minerals Limited T: +61 8 9322 6178 T: +61 8 9388 1474

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Genesis Minerals Limited

12 May 2021

COMPETENT PERSONS’ STATEMENTS

The information in this report that relates to Exploration Results is based on information compiled by Mr. Michael Fowler who is a full-time employee of the Company, a shareholder of Genesis Minerals Limited and is a member of the Australasian Institute of Mining and Metallurgy. Mr. Fowler has sufficient experience which is relevant to the style of mineralisation and type 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’. Mr. Fowler consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

The Information in this report that relates to Mineral Resources is based on information compiled by Mr Paul Payne, a Competent Person who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Payne is a full-time employee of Payne Geological Services and is a shareholder of Genesis Minerals Limited. Mr Payne has sufficient experience that is relevant to the style of mineralisation and type 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”. Mr Payne consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

ASX Release: Spectacular High-Grade Visible Gold Hit: 5m @ 60.7g/t

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12 May 2021

TABLE 1: MINERAL RESOURCE TABLE

A summary of the March 2021Ulysses Mineral Resource is provided in Table 1. March 2021 Resource Estimate 0.5g/t Cut off above 280mRL 2g/t Below 280mRL

Deposit	C O G g/t	Measured	Indicated	Inferred	Total
		Tonnes Au Au T g/t Ounces	Tonnes Au Au T g/t Ounces	Tonnes Au Au T g/t Ounces	Tonnes Au Au T g/t Ounces
Ulysses High Grade Shear Ulysses East	2.0	658,000 6.1 129,000 137,000 1.3 6,000	908,000 6.3 184,000 2,911,000 2.4 221,000 522,000 1.8 29,000	188,000 8.2 50,000 1,765,000 3.2 183,000 653,000 1.7 36,000	1,754,000 6.4 363,000 4,813,000 2.6 410,000 1,175,000 1.7 65,000
Sub Total		795,000 5.3 135,000	4,341,000 3.1 434,000	2,607,000 3.2 269,000	7,743,000 3.4 838,000
ABC Admiral Clark Butterfly Butterfly North King Danluce Historic Stockpiles	0.5 0.5 0.5 0.5 0.5 0.5		1,783,000 2.0 112,000 757,000 1.2 30,000 857,000 2.0 55,000 1,305,000 1.0 42,000	1,671,000 1.4 73,000 946,000 1.2 35,000 779,000 1.4 35,000 623,000 1.4 28,000 591,000 1.0 20,000 958,000 0.9 28,000 80,000 1.1 3,000	3,453,000 1.7 185,000 1,703,000 1.2 65,000 1,636,000 1.7 89,000 623,000 1.4 28,000 1,896,000 1.0 62,000 958,000 0.9 28,000 80,000 1.1 3,000
Sub Total			4,702,000 1.6 238,000	5,649,000 1.2 221,000	10,351,000 1.4 459,000
Orient Well Orient Well OW Laterites Orient Well East Orient Well NW Double J	0.5 0.3 0.5 0.5 0.3		3,605,000 1.1 123,000 142,000 0.6 3,000 434,000 0.7 10,000	1,833,000 1.1 66,000 177,000 0.7 4,000 457,000 1.3 19,000 603,000 1.2 23,000 25,000 0.5 400	5,438,000 1.1 189,000 319,000 0.7 7,000 457,000 1.3 19,000 603,000 1.2 23,000 459,000 0.7 10,000
Sub Total			4,180,000 1.0 136,000	3,094,000 1.1 112,000	7,274,000 1.1 247,000
Kookynie Puzzle Historic Stockpile	0.5		1,002,000 1.1 36,000 175,000 0.7 4,000	725,000 1.0 23,000	1,727,000 1.1 59,000 175,000 0.7 4,000
Sub Total			1,177,000 1.1 40,000	725,000 1.0 23,000	1,902,000 1.0 63,000
Project Total		795,000 5.3 135,000	14,400,000 1.8 849,000	12,075,000 1.6 625,000	27,270,000 1.8 1,608,000

NB. Rounding discrepancies may occur

Full details of the Ulysses Mineral Resource estimate are provided in the Company’s ASX announcement dated 29 March 2021 titled “Ulysses Mineral Resource Increases to 1.6 Million Ounces Following Continued Drilling Success” .

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements dated 29 March 2021 and the Company confirms that all material assumptions and technical parameters underpinning the mineral resource estimates in the market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons’ findings are presented have not materially changed from the original market announcements.

ASX Release: Spectacular High-Grade Visible Gold Hit: 5m @ 60.7g/t

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Genesis Minerals Limited

12 May 2021

Table 2 RC Drilling Results– All Holes Drilled Within Sequences Are Listed.

Admiral – Clark – Butterfly Mine Environment

Hole_ID	MGA East	MGA North	mRL	Max Depth (m)	MGA Azi	Dip	From (m)	To (m)	Int (m)	Gold (g/t)
21USRC861	341,795	6,768,588	430.9	162	138.48	-65.27	16	27	11	0.89
							53	54	1	2.06
21USRC862	341,712	6,768,634	429.1	120	140.77	-60.32	19	21	2	2.08
							49	53	4	1.23
							64	74	10	0.59
							96	99	3	0.93
21USRC863	341,670	6,768,706	429.6	120	140.74	-60.88	80	81	1	1.17
							83	84	1	2.26
							93	94	1	1.33
							112	115	3	0.96
21USRC864	342,097	6,768,776	432.9	132	142.78	-59.26	77	83	6	1.81
21USRC865	342,051	6,768,857	429.9	140	141.16	-59.41	85	96	11	0.59
21USRC866	342,349	6,768,730	430.7	120	141.77	-64.78	9	10	1	1.20
							26	27	1	1.49
							87	89	2	1.02
							98	111	13	0.50
21USRC867	342,286	6,768,838	432.6	120	140.83	-60.08	No significant intersection
21USRC868	342,222	6,768,948	432.1	130	141.5	-61	20	21	1	1.33
							46	50	4	0.90
21USRC869	342,538	6,768,628	430.0	120	143.5	-59.7	64	82	18	1.18
						including	72	80	8	2.04
							97	98	1	2.74
							101	102	1	1.16
21USRC870	342,518	6,768,671	430.4	140	137.7	-69	73	75	2	1.05
21USRC871	342,685	6,768,774	426.5	65	141.6	-60.4	27	28	1	1.81
							48	49	1	1.74
21USRC872	342,647	6,768,840	427.3	100	142.22	-60	No significant intersection
21USRC873	342,640	6,768,921	428.1	100	141.51	-64.8	No significant intersection
21USRC874	342,414	6,768,643	434.6	130	141.15	-56.9	122	123	1	5.45
21USRC875	342,342	6,768,370	431.8	50	141.3	-60.2	40	45	5	0.58
21USRC876	342,323	6,768,393	432.0	50	141.9	-71.2	No significant intersection
21USRC877	342,306	6,768,419	432.3	50	142.6	-80.3	15	20	5	0.54
21USRC878	342,211	6,769,357	423.1	120	141.2	-60.04	49	56	7	1.60
							70	75	5	0.62
21USRC879	342,241	6,769,351	423.0	60	141.06	-60.6	5	15	10	1.57
21USRC880	342,215	6,769,396	422.7	150	142.8	-63.2	72	74	2	0.68
							110	112	2	1.94
21USRC881	342,214	6,769,440	422.5	180	138.9	-60.55	107	110	3	0.68
							149	156	6	0.89
21USRC882	342,272	6,769,398	422.4	97	141.5	-60.1	17	26	9	0.63
							62	77	15	1.34
						including	62	68	6	2.62
21USRC883	342,251	6,769,428	422.3	140	147.7	-59.4	85	86	1	1.17
							79	107	28	1.38

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21USRC884	342,280	6,769,437	422.0	132	151.24	-59.78	46	87	41	1.04
						including	55	69	14	2.02
							115	132	17	0.45
21USRC885	342,257	6,769,468	421.9	160	150.19	-59.81	99	111	12	1.41
21USRC886	342,320	6,769,422	422.1	112	152.07	-60.67	90	94	4	2.01
21USRC887	342,295	6,769,455	421.8	120	149.86	-60.03	No significant intersection
21USRC888	342,160	6,769,530	422.0	212	147.99	-60.68	160	170	10	1.66
							179	181	2	1.06
21USRC892	341,191	6,769,103	435.7	290	150.2	-56	208	215	7	0.57
							240	250	10	0.90*
							265	270	5	60.7*
							285	290	5	2.36*

Note: * 5m composite results. One metre split samples have been submitted to Intertek for analyses.

ASX Release: Spectacular High-Grade Visible Gold Hit: 5m @ 60.7g/t

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12 May 2021

JORC Table 1 Section 1 Sampling Techniques and Data

Criteria	JORC Code explanation	Certified Person 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.	Sampling was undertaken using standard industry practices with reverse circulation (RC) drilling).
	Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.	Holes were generally angled to optimally intersect the interpreted mineralised zones. Butterfly Group – All holes were angled towards local grid south (~140 degrees MGA)
	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.	RC holes were sampled on a 1m basis with samples collected from a cone splitter mounted on the drill rig cyclone. 1m sample ranges from a typical 2.5 - 3.5kg. All RC analytical samples were fully pulverized at an independent laboratory to -75 microns, to produce a 50g charge for Fire Assay with ICP-MS finish for Au.
Drilling techniques	Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).	RC face sampling drilling was completed using a 5.75” drill bit. Drilling was undertaken by Challenge Drilling.
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed.	RC sample recoveries were visually estimated to be of an industry acceptable standard. Moisture content and sample recovery is recorded for each RC sample.
	Measures taken to maximise sample recovery and ensure representative nature of the samples.	The RC samples were dry and very limited ground water was encountered.
	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.	No bias was noted between sample recovery and grade.
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.	The detail of logging is considered suitable to support a Mineral Resource estimation for the RC and diamond drilling.
	Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.	Logging of lithology, structure, alteration, mineralisation, regolith and veining was undertaken for RC drilling. Photography of RC chip trays and magnetic susceptibility reading are undertaken during the logging process.
	The total length and percentage of the relevant intersections logged.	All drill holes were logged in full.
Sub-sampling techniques and	If core, whether cut or sawn and whether quarter, half or all core taken.	No core sampling completed.

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sample preparation	If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.	Reverse circulation holes were sampled at 1m intervals collected via a cyclone, dust collection system and cone splitter.
	For all sample types, the nature, quality and appropriateness of the sample preparation technique.	Samples were analysed at Intertek Genalysis in Perth following preparation in Kalgoorlie. Samples were dried at approximately 105°C. A Boyd crusher crushes the samples to ~10mm. The resulting material is then passed to a LM5 mill and ground to a nominal 85% passing of 75μm. The milled pulps are weighed out (50g) and underwent analysis by fire assay (method FA50/OE04).
	Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.	Genesis submitted standards and blanks into the RC and diamond sample sequence as part of the QAQC process. CRM’s and blanks were inserted at a ratio of approximately 1-in-40 samples. Duplicate samples were submitted at a ratio of approximately 1-in-20 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 was carried out using Genesis’ protocols and QAQC procedures as per industry best practice. Duplicate samples were routinely submitted and checked against originals for both drilling methods.
	Whether sample sizes are appropriate to the grain size of the material being sampled.	Sample sizes are considered to be appropriate to correctly represent the style of mineralisation, the thickness and consistency of the intersections.
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.	Analytical samples were analysed through Intertek Genalysis in Perth. All samples were analysed by 50g Fire Assay.
	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.	pXRF analyses were undertaken on selected holes.
	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.	In addition to Genesis’ standards, duplicates and blanks, Intertek Genalysis incorporated laboratory QAQC including standards, blanks and repeats as a standard procedure. Certified reference materials that are relevant to the type and style of mineralisation targeted were inserted at regular intervals. Results from certified reference material highlight that sample assay values are accurate. Duplicate analysis of samples showed the precision of samples is within acceptable limits.
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel.	The Managing Director of Genesis and an independent consultant verified significant intercepts.
	The use of twinned holes.	No twinned holes of Genesis drilling was completed.
	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.	Logging of data was completed in the field with logging data entered using a Toughbook with a standardised excel template with drop down fields. Data is stored in a custom designed database maintained by an external DB consultant.
	Discuss any adjustment to assay data.	No adjustments have been made to assay data.
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.	All maps and sample locations are in MGA Zone51 GDA grid. The Admiral-Butterfly local grid is used for drill hole planning and collar locations are pegged in MGA coordinates. Collar locations were pegged using a handheld Garmin GPS with reference to known collar positions in the field. At the completion of the RC and diamond program the collar locations are surveyed with Rover pole shots using a Leica Captivate RTK GPS (+/-0.1m).
	Specification of the grid system used.	MGA Zone51 GDA grid and Butterfly local grid used.
	Quality and adequacy of topographic control.	Drill hole collar RL’s are +/- 0.1m accuracy. Topographic control is considered adequate for the stage of development.
	Data spacing for reporting of Exploration Results.	For RC drilling the hole spacing is variable with collar locations shown.

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Genesis Minerals Limited

	12 May 2021	Genesis Minerals Limited
Data spacing and distribution		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.	The RC drilling has demonstrated sufficient continuity in both geological and grade continuity to support the definition of Mineral Resource, and the classifications applied under the 2012 JORC Code.
		Whether sample compositing has been applied.	No compositing has been applied.
Orientation of data in relation to geological structure		Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.	Holes were targeted normal to the mineralised structures.
		If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	No orientation-based sampling bias is known at this time.
Sample security		The measures taken to ensure sample security.	Chain of custody was managed by Genesis. No issues were reported.
Audits or reviews		The results of any audits or reviews of sampling techniques and data.	No audits or reviews of sampling techniques and data were completed.

JORC Table 1 Section 2 Reporting of Exploration Results

Criteria	JORC Code explanation	Certified Person 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 Kookynie Gold Project is located over a 60km strike length of the Melita Greenstones on granted mining and exploration licenses with associated miscellaneous licenses. The Orient Well deposit is located on M40/289, M40290, M40/291 and M40/20. The Admiral/Clark and Butterfly deposits are located on Mining Leases M40/101, M40/110, and M40/3. The Ulysses deposit is located on M40/166. The Puzzle deposit is located on M40/164 and 136.
	The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	The tenements are in good standing.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	The majority of drilling was carried out by previous operators including A&C, Kookynie Resources, Consolidated Gold Mines, Melita Mining, Diamond Ventures, Dominion Mining and Forrest Gold. Exploration has been ongoing since the 1980’s across the entire Ulysses Project. Several phases of mining and processing operations.
Geology	Deposit type, geological setting and style of mineralisation.	The Ulysses Gold Project is located in the central part of the Norseman- Wiluna belt of the Eastern Goldfields terrane. Host rocks in the region are primarily metasedimentary and metavolcanic lithologies of the Melita greenstones. Gold mineralisation is developed within structures encompassing a range of orientations and deformation styles. The Admiral, Butterfly and Clark deposits occur as a series of mineralised structures forming two main orientations within a mafic package of basalt, dolerite and gabbro lithologies. The majority of gold mineralisation is hosted in a set of veins and related alteration haloes broadly parallel to the shallow ENE dipping Admiral, Clark and Butterfly Shear zones. At Admiral and Butterfly, gold mineralisation is also developed in the steep north dipping, east-west trending Hercules Shear. At Orient Well gold mineralisation is hosted by a quartz veined rhyolite. Mineralisation at Puzzle is associated with an east dipping granite – greenstone contact.

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Genesis Minerals Limited

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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.	Appropriate tabulations for drill results have been included in this release as Table 2.
	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.	Appropriate tabulations for drill results have been included in this release.
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	No top cuts were applied. Intercepts results were formed from weighted averages.
	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.	Maximum of 3m internal dilution was included. Five metre composite reported for 21USRC892.
	The assumptions used for any reporting of metal equivalent values should be clearly stated.	No metal equivalent values are currently used for reporting of exploration results.
Relationship between mineralisation widths and intercept lengths	These relationships are particularly important in the reporting of Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’).	Only down hole lengths are reported. True widths are 60 to 70% of downhole lengths at Orient Well. True widths at Puzzle are yet to be determined.
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 plans are included in this release.
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 exploration results are reported.
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.	No mining has taken place recently.

ASX Release: Spectacular High-Grade Visible Gold Hit: 5m @ 60.7g/t

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Genesis Minerals Limited

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12 May 2021		Genesis Minerals Limited
Further work	The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling).	Further work will include systematic infill and extensional 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.	Appropriate plans are included in this release.

ASX Release: Spectacular High-Grade Visible Gold Hit: 5m @ 60.7g/t

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