GENESIS RESOURCES LIMITED — Interim / Quarterly Report 2017

Jul 25, 2017

Quarterly Activities Report – June 2017

HIGHLIGHTS

Plavica Au-Ag-Cu Project

• Extensional and infill drilling to upgrade the oxide gold resource to ‘Indicated’ was completed during the Quarter.

• • Highlights from this extensional drilling include:

❖ MRDD054: 53m @ 1.25 g/t Au from 10m from the Maricanski Rid prospect.

• Highlights from Primary Mineralisation intersected below the oxide include:

• ❖ PNDD099: 63m @ 1.57 g/t Au, 1.07 % Cu and 27.3 g/t Ag from 129m from the eastern end of the Plavica prospect.

The above results are not included in the Resource model completed in late 2016.

EXPLORATION & DEVELOPMENT PROGRESS DURING THE QUARTER

REPUBLIC OF MACEDONIA

PLAVICA HIGH SULPHIDATION EPITHERMAL GOLD-COPPER-SILVER PROJECT (Figures 1 & 2)

Following the granting of the 30-year Exploitation Licence at Plavica in May 2015, drilling has since focussed on extending and better understanding the previously known mineralisation at both the Plavica and Maricanski Rid prospects with a focus on the oxide gold potential.

During the Quarter a total of 16 core holes (for 2,925.6m) and 33 RC holes (for 3,660m) were completed over both prospects. Whilst most of these were infill holes to upgrade the existing resource from ‘inferred’ in ‘indicated’ status, a number of holes were also drilled outside the current block model to extend the known resource. Results to the east of Maricanski Rid include:

• ❖ MRDD054: 53m @ 1.25 g/t Au from 10m. ❖ MRRC033: 40m @ 1.29 g/t Au from 1m.

• ❖ MRDD057: 44m @ 1.20 g/t Au from 18m.

Results to the East of the Plavica Resource include:

• ❖ PNRC127: 27m @ 2.19 g/t Au from 6m and 34m @ 3.03 g/t Au from 87m. ❖ PNRC136: 16m @ 1.83 g/t Au from 14m.

In addition, a number of encouraging intercepts were returned in primary, un-oxidized material beneath the current oxide deposits:

• ❖ PNDD099: 63m @ 1.57 g/t Au, 1.07 % Cu and 27.3 g/t Ag from 129m. ❖ MRRC044: 24m @ 1.06 g/t Au, 0.74 % Cu and 7.4 g/t Ag from 46m.

A total of 6 Geotechnical Holes (682.65m of core) and 4 water monitoring bores (170m of RC) were also drilled around the Plavica and Maricanski Rid areas. This is part of the work for Golder Associates who have been contracted to complete a Pre-Feasibility Study. Two of the Geotechnical holes intersected interesting looking zones and were sampled.

All drill collar locations reported this Quarter are shown in Tables 1 and 2 and Figure 2. Composites from results received this Quarter are shown in Tables 3, 4 and 5. A section from Maricanski Rid showing hole MRDD054 is shown as Figure 3.

Work is currently being undertaken to complete the upgraded resource and a Pre-Feasibility Study (PFS) by the end of the year. Genesis and Golders are on schedule to complete this work.

Genesis Resources Limited | Quarterly Activities Report | April 2017 – June 2017

Page 1

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Figure 1 (above) Location of the Plavica Gold-Copper-Silver Project, Republic of Macedonia.

Genesis Resources Limited | Quarterly Activities Report | April 2017 – June 2017

Page 2

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Figure 2 Location of Holes drilled, QTR 2 2017, Plavica Project. Gauss Kruger Co-ordinate System.

Hole ID	Prospect	Type	Final Depth	Dip	Azi Mag	East_GK	North_GK	RL_GK	Comment
MRDD053	Maricanski Rid	DD	165.10	-55.00	4.00	7597863.392	4656351.249	1207.931	Results Received
MRDD054	Maricanski Rid	DD	171.45	-45.00	184.00	7597906.710	4656292.937	1204.919	Results Received
MRDD055	Maricanski Rid	DD	152.85	-55.00	4.00	7597907.383	4656294.504	1205.279	Results Received
MRDD056	Maricanski Rid	DD	157.35	-50.00	4.00	7597986.225	4656393.221	1226.584	Results Received
MRDD057	Maricanski Rid	DD	217.85	-45.00	184.00	7597985.705	4656385.291	1225.848	Results Received
MRDD058	Maricanski Rid	DD	91.40	-50.00	94.00	7597957.708	4656303.639	1211.587	Results Received
MRDD059	Maricanski Rid	DD	206.60	-45.00	184.00	7597245.338	4656137.883	1141.921	Results Received
PNDD094	Plavica	DD	304.95	-60.00	4.00	7597897.744	4656483.838	1218.856	Results Received
PNDD095	Plavica	DD	212.40	-61.00	4.00	7597948.939	4656519.547	1229.997	Results Received
PNDD096	Plavica	DD	218.75	-55.00	7.00	7597987.059	4656565.651	1241.776	Results Received
PNDD097	Plavica	DD	188.60	-50.00	4.00	7597982.545	4656603.643	1244.712	Results Received
PNDD098	Plavica	DD	250.70	-45.00	4.00	7598049.126	4656753.968	1273.201	Results Received
PNDD099	Plavica	DD	244.45	-50.00	4.00	7597790.080	4656593.773	1207.187	Results Received
PNDD100	Plavica	DD	101.80	-50.00	94.00	7597989.305	4656552.259	1241.214	Results Received
PNDD101	Plavica	DD	122.25	-55.00	7.00	7597599.424	4656516.281	1157.292	Results Received
PNDD102	Plavica	DD	118.50	-60.00	184.00	7597599.794	4656514.970	1157.635	Results Received
MAR_N	Maricanski Rid	DD - Geotech	74.30	-70.00	184.00	7597276.206	4656366.943	1132.157	Results Received
MAR_S	Maricanski Rid	DD - Geotech	148.10	-45.00	10.00	7597245.338	4656141.104	1142.536	Results Received
MAR_W	Maricanski Rid	DD - Geotech	122.45	-70.00	184.00	7597129.945	4656240.144	1120.891	Results Received
PLAV_N1	Plavica	DD - Geotech	107.40	-80.00	184.00	7597487.193	4657162.206	1189.153	Results Received
PLAV_N2	Plavica	DD - Geotech	100.80	-60.00	4.00	7597486.754	4657163.715	1188.641	Results Received
PLAV_S	Plavica	DD - Geotech	130.60	-60.00	4.00	7597454.474	4657023.733	1199.075	Results Received

Table 1 Details of Core Holes Drilled, QTR 1 2017, Plavica and Maricanski Rid Prospects. Gauss Kruger Co-ordinate System.

Genesis Resources Limited | Quarterly Activities Report | April 2017 – June 2017

Page 3

Hole ID	Prospect	Type	Final Depth	Dip	Azi Mag	East_GK	North_GK	RL_GK	Comment
MRRC031	Maricanski Rid	RC	108.00	-60.00	4.00	7597706.374	4656310.946	1202.107	Results Received
MRRC032	Maricanski Rid	RC	144.00	-55.00	184.00	7597957.438	4656302.582	1211.253	Results Received
MRRC033	Maricanski Rid	RC	144.00	-55.00	4.00	7597958.673	4656311.776	1213.410	Results Received
MRRC034	Maricanski Rid	RC	144.00	-90.00	360.00	7597906.372	4656299.334	1206.196	Results Received
MRRC035	Maricanski Rid	RC	138.00	-90.00	360.00	7597862.491	4656346.513	1207.407	Results Received
MRRC036	Maricanski Rid	RC	120.00	-57.00	4.00	7597711.704	4656265.226	1196.800	Results Received
MRRC037	Maricanski Rid	RC	132.00	-55.00	184.00	7597710.538	4656257.784	1195.198	Results Received
MRRC038	Maricanski Rid	RC	120.00	-90.00	360.00	7597711.131	4656261.400	1196.067	Results Received
MRRC039	Maricanski Rid	RC	110.00	-60.00	184.00	7597224.667	4656347.977	1122.268	Results Received
MRRC040	Maricanski Rid	RC	102.00	-70.00	4.00	7597225.777	4656353.510	1120.989	Results Received
MRRC041	Maricanski Rid	RC	102.00	-60.00	184.00	7597163.298	4656320.421	1112.535	Results Received
MRRC042	Maricanski Rid	RC	102.00	-60.00	4.00	7597162.631	4656325.371	1111.161	Results Received
MRRC043	Maricanski Rid	RC	42.00	-60.00	4.00	7597126.538	4656320.983	1101.349	Results Received
MRRC043A	Maricanski Rid	RC	102.00	-60.00	4.00	7597126.492	4656320.046	1101.559	Results Received
MRRC044	Maricanski Rid	RC	72.00	-60.00	184.00	7597125.409	4656313.283	1102.862	Results Received
MRRC045	Maricanski Rid	RC	102.00	-65.00	4.00	7597130.300	4656220.915	1123.096	Results Received
MRRC046	Maricanski Rid	RC	84.00	-65.00	4.00	7597130.473	4656242.840	1120.577	Results Received
MRRC047	Maricanski Rid	RC	144.00	-55.00	184.00	7597014.497	4656045.248	1061.734	Results Received
MRRC048	Maricanski Rid	RC	120.00	-55.00	4.00	7597920.836	4656353.756	1213.593	Results Received
MRRC049	Maricanski Rid	RC	90.00	-55.00	184.00	7597919.244	4656346.829	1212.711	Results Received
PNRC127	Plavica	RC	121.00	-55.00	4.00	7598024.149	4656499.886	1240.458	Results Received
PNRC128	Plavica	RC	132.00	-60.00	4.00	7597680.580	4656554.094	1175.769	Results Received
PNRC129	Plavica	RC	120.00	-55.00	4.00	7597731.678	4656599.930	1195.142	Results Received
PNRC130	Plavica	RC	120.00	-50.00	4.00	7597731.153	4656649.580	1201.740	Results Received
PNRC131	Plavica	RC	24.00	-60.00	4.00	7597746.850	4656518.101	1189.471	Results Received
PNRC131A	Plavica	RC	120.00	-60.00	4.00	7597747.543	4656523.566	1189.505	Results Received
PNRC132	Plavica	RC	78.00	-60.00	184.00	7597747.471	4656512.049	1189.826	Results Received
PNRC133	Plavica	RC	102.00	-60.00	184.00	7597679.922	4656548.073	1175.356	Results Received
PNRC134	Plavica	RC	132.00	-55.00	4.00	7597893.823	4656860.594	1276.771	Results Received
PNRC135	Plavica	RC	165.00	-55.00	4.00	7597895.390	4656809.342	1265.828	Results Received
PNRC136	Plavica	RC	120.00	-55.00	94.00	7598027.782	4656499.239	1240.089	Results Received
PNRC137	Plavica	RC	84.00	-55.00	4.00	7596661.663	4657006.319	1143.221	Results Received
PNRC138	Plavica	RC	120.00	-55.00	4.00	7596645.756	4656956.600	1122.059	Results Received

Table 2 Details of RC Drilled, QTR 1 2017, Plavica and Maricanski Rid Prospects. Gauss Kruger Co-ordinate System.

Genesis Resources Limited | Quarterly Activities Report | April 2017 – June 2017

Page 4

Hole_ID	From	To	Interval	AU_ppm	AG_ppm	Cu_%
MRDD053	155	161	6	0.50	32.67	0.85
MRDD054	0	6.5	6.5	0.76	7.28	0.02
MRDD054	10	63	53	1.25	45.55	0.04
MRDD054	73	99	26	0.84	8.81	0.01
MRDD054	103	107	4	0.47	5.75	0.01
MRDD055	3	30	27	0.84	14.56	0.05
MRDD055	42	47	5	0.78	33.60	0.03
MRDD055	54	68	14	0.53	34.64	0.05
MRDD055	73	88	15	0.72	15.60	0.19
MRDD055	100	106	6	0.56	1.50	0.09
MRDD055	115	127	12	0.86	9.17	0.19
MRDD055	135	140	5	0.41	43.20	0.72
MRDD056	0	42	42	0.69	9.76	0.02
MRDD057	18	62	44	1.20	9.95	0.02
MRDD057	66	110	44	0.65	13.43	0.26
MRDD057	151	159	8	1.14	4.75	0.01
MRDD058	1	28	27	1.32	8.70	0.02
MRDD058	33	39	6	0.66	3.00	0.02
MRDD059	5.9	17	11.1	0.61	8.77	0.02
PNDD094	121	130	9	0.61	20.56	0.88
PNDD094	157	162	5	0.58	6.00	0.02
PNDD094	202	210	8	0.65	24.63	0.02
PNDD094	217	220	3	0.77	11.00	0.02
PNDD095	64	74	10	0.55	3.40	0.01
PNDD095	90	94	4	0.64	2.75	0.01
PNDD095	105	112	7	0.43	1.14	0.04
PNDD095	114	135	21	1.60	15.22	0.03
PNDD095	143	174	31	1.06	10.39	0.05
PNDD095	207	210	3	0.86	2.00	0.08
PNDD096	No Significant Results
PNDD097	No Significant Results
PNDD098	121	126	5	0.66	4.20	0.01
PNDD098	142	146	4	1.40	9.25	0.02
PNDD098	158	165	7	0.49	2.71	0.05
PNDD098	175	183	8	1.05	3.75	0.13
PNDD098	188	191	3	0.83	1.67	0.02
PNDD098	199	207	8	0.57	2.13	0.01
PNDD098	238	243	5	0.43	5.20	0.00
PNDD098	245	248	3	0.51	2.67	0.00
PNDD099	4	8	4	0.55	3.00	0.00
PNDD099	129	192	63	1.57	27.30	1.07
PNDD100	1	4	3	0.88	18.67	0.02
PNDD100	51	58	7	0.99	1.71	0.01
PNDD101	No Significant Results
PNDD102	2	6.2	4.2	1.15	1.86	0.01
PNDD102	19	22	3	0.61	3.00	0.00
PNDD102	111	118	7	0.81	1.00	0.01
MAR_N	28	72	44	0.68	1.46	0.02
MAR_S	0	5	5	0.52	5.12	0.05
MAR_S	14.62	58.75	44.13	1.45	4.29	0.02
MAR_S	63	77	14	0.74	1.46	0.01
MAR_S	95	99	4	0.66	1.25	0.02
MAR_S	140	143.88	3.88	0.48	1.52	0.01

Table 3 (above): Significant Core Drilling Gold Results received, QTR 2 2017, Plavica and Maricanski Rid Prospect Areas. Compositing done with a 0.4 g/t Au cut-off, minimum 3m interval, maximum 3m internal waste. Samples were sent to SGS Laboratories in in Ankara, Turkey. Samples were assayed for gold by 30g Fire Assay and other elements by ICP. Standards, Blanks and Duplicates were also submitted for Laboratory Quality Assurance / Quality Control (QA/QC). Intercept widths are not necessarily true widths.

Genesis Resources Limited | Quarterly Activities Report | April 2017 – June 2017

Page 5

Hole_ID	From	To	Interval	AU_ppm	AG_ppm	Cu_%
MRRC031	9	18	9	0.51	1.00	0.01
MRRC031	27	36	9	1.06	1.67	0.01
MRRC031	40	46	6	0.64	6.00	0.02
MRRC031	89	99	10	0.42	1.00	0.01
MRRC031	105	108	3	1.44	8.00	0.02
MRRC032	1	4	3	1.04	8.67	0.02
MRRC032	5	33	28	0.99	13.00	0.01
MRRC032	70	99	29	0.97	26.97	0.31
MRRC032	109	116	7	0.58	23.86	0.05
MRRC032	131	135	4	0.42	4.50	0.03
MRRC032	141	144	3	1.27	14.00	0.11
MRRC033	1	41	40	1.29	12.35	0.02
MRRC033	46	59	13	0.69	22.31	0.06
MRRC034	24	34	10	0.56	8.70	0.05
MRRC034	65	68	3	0.44	5.33	0.07
MRRC035	78	105	27	1.70	19.41	0.02
MRRC035	110	121	11	0.55	4.36	0.05
MRRC036	88	101	13	0.47	2.38	0.01
MRRC037	62	68	6	0.82	1.50	0.02
MRRC037	73	88	15	1.31	3.27	0.02
MRRC037	93	105	12	0.82	5.58	0.02
MRRC038	26	57	31	0.54	1.19	0.01
MRRC038	61	65	4	1.85	3.00	0.03
MRRC038	72	117	45	1.36	4.04	0.01
MRRC039	0	3	3	0.48	3.00	0.01
MRRC039	24	27	3	0.48	1.00	0.01
MRRC039	41	63	22	0.59	1.41	0.01
MRRC039	87	95	8	0.44	14.50	0.02
MRRC040	60	64	4	0.47	7.25	0.01
MRRC040	90	102	12	0.66	23.67	0.12
MRRC041	0	52	52	0.81	4.00	0.03
MRRC042	2	45	43	0.53	1.21	0.02
MRRC042	53	58	5	0.72	1.60	0.02
MRRC043	0	41	41	1.38	5.37	0.03
MRRC043A	0	39	39	1.18	4.80	0.03
MRRC043A	44	60	16	0.67	1.94	0.04
MRRC043A	82	98	16	0.49	2.63	0.04
MRRC044	0	13	13	0.78	5.92	0.03
MRRC044	22	41	19	0.88	10.42	0.01
MRRC044	46	70	24	1.06	7.42	0.74
MRRC045	No Significant Results
MRRC046	8	12	4	0.58	12.50	0.03
MRRC046	23	32	9	0.55	10.89	0.03
MRRC046	57	60	3	0.67	5.33	0.02
MRRC046	75	84	9	0.56	2.67	0.40
MRRC047	No Significant Results
MRRC048	64	83	19	0.87	12.05	0.26
MRRC048	87	100	13	0.76	20.31	0.66
MRRC048	106	110	4	0.93	21.75	0.17
MRRC049	20	24	4	1.35	41.50	0.08
MRRC049	38	58	20	1.18	29.35	0.03
MRRC049	62	71	9	0.57	6.56	0.05
MRRC049	75	80	5	0.68	5.60	0.10

Table 4 (above): Significant RC Drilling Gold Results received, QTR 2 2017, Maricanski Rid Prospect Area. Compositing done with a 0.4 g/t Au cut-off, minimum 3m interval, maximum 3m internal waste. Samples were sent to SGS Laboratories in in Ankara, Turkey. Samples were assayed for gold by 30g Fire Assay and other elements by ICP. Standards, Blanks and Duplicates were also submitted for Laboratory Quality Assurance / Quality Control (QA/QC). Intercept widths are not necessarily true widths.

Genesis Resources Limited | Quarterly Activities Report | April 2017 – June 2017

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Hole_ID	From	To	Interval	AU_ppm	AG_ppm	Cu_%
PNRC127	6	33	27	2.19	4.89	0.02
PNRC127	73	76	3	0.46	1.00	0.01
PNRC127	87	121	34	3.03	6.47	0.03
PNRC128	62	70	8	0.53	3.75	0.01
PNRC129	15	18	3	0.61	1.00	0.02
PNRC129	36	44	8	0.68	4.38	0.01
PNRC130	No Significant Results
PNRC131A	19	24	5	0.46	2.20	0.01
PNRC131A	34	43	9	0.58	2.22	0.27
PNRC131A	56	59	3	0.71	1.00	0.01
PNRC131A	95	106	11	1.43	1.45	0.01
PNRC132	36	44	8	0.56	1.25	0.00
PNRC132	49	52	3	0.50	1.00	0.00
PNRC132	59	78	19	1.88	1.16	0.01
PNRC133	19	26	7	0.54	6.14	0.01
PNRC133	82	86	4	0.59	1.00	0.02
PNRC133	91	101	10	0.43	1.00	0.00
PNRC134	31	37	6	0.65	34.33	0.02
PNRC134	45	49	4	0.70	7.75	0.01
PNRC134	66	69	3	5.42	10.67	0.04
PNRC134	74	79	5	0.42	7.40	0.02
PNRC134	88	92	4	0.60	9.00	0.01
PNRC134	111	128	17	1.27	32.35	0.02
PNRC135	0	7	7	0.85	14.14	0.01
PNRC135	125	132	7	0.77	27.86	0.02
PNRC135	162	165	3	0.46	22.67	0.03
PNRC136	2	9	7	1.15	4.43	0.01
PNRC136	14	30	16	1.83	9.94	0.04
PNRC136	83	90	7	0.62	2.14	0.01
PNRC136	96	105	9	0.42	3.33	0.02
PNRC136	107	113	6	0.47	1.83	0.03
PNRC137	No Significant Results
PNRC138	81	86	5	0.79	3.20	0.03

Table 5 (above): Significant RC Drilling Gold Results received, QTR 2 2017, Plavica Prospect Area. Compositing done with a 0.4 g/t Au cut-off, minimum 3m interval, maximum 3m internal waste. Samples were sent to SGS Laboratories in in Ankara, Turkey. Samples were assayed for gold by 30g Fire Assay and other elements by ICP. Standards, Blanks and Duplicates were also submitted for Laboratory Quality Assurance / Quality Control (QA/QC). Intercept widths are not necessarily true widths.

Genesis Resources Limited | Quarterly Activities Report | April 2017 – June 2017

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Figure 3 Maricanski Rid Section 7597910E Gauss Kruger, looking East. This section lies 100m East of the current resource model.

Genesis Resources Limited | Quarterly Activities Report | April 2017 – June 2017

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Figure 4 Location of Australian Projects.

AUSTRALIA

ARLTUNGA PROJECT: Copper, Gold, (GES 100%)

The Arltunga Gold Project consists of Exploration Licence EL25238 covering 95.2 sq km, is located approximately 110 km northeast of Alice Springs (Figure 4) in the vicinity of the Arltunga Goldfield. Thirty three historical gold mines and prospects are known in the licence area.

A Licence Renewal Application was lodged on the 26 October 2016 and approved on the 21 March 2017 for a further two year period. The new expiry date is the 7 November 2018. All 31 sub blocks were retained.

An updated Mining Management Plan (MMP) was lodged on the 27 March 2017.

The 10[th] Annual Technical Report was lodged on 10 November 2016 and accepted as satisfactory by the DME on the 11 November 2016.

The Central Land Council Sacred Site Clearance Certificate was extended on the 12 July 2016. The new expiry date is the 19 September 2017.

A full review of all available data is currently underway, with the aim of defining targets for Reverse Circulation drilling in Q3 2017.

No field work was carried out during the current Quarter.

ALICE SPRINGS PROJECT: Copper, Gold, Iron (GES 100%)

The Alice Springs Project consists of Exploration Licence EL24817 covering 372.59 sq km, is located approximately 110155 km northeast from Alice Springs in the Northern Territory (Figure 4) .

An updated Mining Management Plan (MMP) was lodged on the 20 February 2017.

Genesis Resources Limited | Quarterly Activities Report | April 2017 – June 2017

Page 9

An application for the extension of The Central Land Council Sacred Site Clearance Certificate was approved on the 6 February 2017. The new expiry date is the 6 February 2018.

A Licence Renewal Application was lodged on 5 April 2016. It was approved on 13 May 2016 for a further term of 2 years and will expire on 17 April 2018. All 118 sub-blocks were retained.

The 11[th] Annual Technical Report was lodged on 21 April 2017 and accepted as satisfactory by the DME on the 26 April 2017.

No field work was carried out. In addition a full review of all available data is underway to define targets for RC drill testing during 2017.

GLADSTONE-MOUNT MILLER PROJECT: Manganese (GES 100%)

The Gladstone-Mount Miller Project consists of Exploration Licence (EPM15771) covering 42.62sq km and is located approximately 15 km by road from the port of Gladstone on the east coast of central Queensland (Figure 4).

The largest mine on the tenements controlled by Genesis was at Mount Miller. The mine opened in 1895 and operated intermittently until 1916 and then from 1958 to 1960. A total of 21,785 tonnes of ore was mined with a grade which ranged from 71% to 75% MnO2.

A Licence Renewal Application was lodged on the 17 February 2017 and approved on the 17 March 2017. The new expiry date is the 19 June 2019. All 7 sub blocks were retained.

The 10[th] Annual Technical Report was lodged on 23 June 2017.

No field work was carried out. A review of all available data is underway to confirm if more drilling is necessary at the Mt Miller mine and if other prospect areas on the tenement require drill testing during 2018.

Withdrawal of Mining Lease Application

During the Quarter Genesis advised the Queensland Government’s Department of Natural Resources and Mines (DNRM) that Genesis requested to withdraw its Mining Lease 80166 (ML) application. The request was approved by the DNRM.

The Company’s decision not to progress the ML from application to grant stage at this time is consistent with its current strategy of focusing on a program of works for the exploration permit, rather than the ML application itself.

Genesis’ withdrawal of the ML application will allow the area to fall back within the underlying exploration permit held by Genesis, and for exploration activities to continue. The withdrawal will not affect any entitlements that Genesis currently has through the underlying exploration permit, and the permit continues to provide the Company with security of tenure for any future mining lease applications.

The Company intends to continue its exploration programs at this tenement, whilst re-assessing the viability of submitting another mining lease application at a later stage.

PIONEER PROJECT: Gold (GES 100%)

The Pioneer Project consists of one granted Exploration Permit Mineral (EPM15619) covering 6.23 sq km approximately 70 km by road from Bundaberg via the Bruce Highway in Queensland (Figure 4) .

The project lies within the Gaeta Goldfield and has undergone previous exploration for gold, uranium and base metals, with numerous historical gold workings located throughout the area. Historical mining was primarily focused on the Pioneer Reef which was the largest producer, but mining activities also included several other reefs including Gympie, Lord Nelson, West Yorkshire and Happy Jack.

A Licence Renewal Application was lodged on 28 April 2016 requesting another two year period. The renewal application was approved on the 30 June 2016. The new expiry date is the 2 August 2018. The 2 sub blocks were retained.

The 9[th] Annual Technical Report was lodged on 8 August 2016.

No field work was carried out. A review of all available data is underway to compile all geological mapping and define targets for drill testing during 2017 or 2018.

Genesis Resources Limited | Quarterly Activities Report | April 2017 – June 2017

Page 10

McARTHUR RIVER PROJECT: Manganese (GES 100%)

The McArthur River project consists of Exploration Licence EL24814 covering 380.88 sq km and is located approximately 850 km south east of Darwin in the Northern Territory and 450 km north-west of Mount Isa in Queensland (Figure 4) .

The project area contains the Masterton No2 manganese occurrence.

The Mining Management Plan Update lodged on the 16 November 2016 was approved on the 23 June 2017.

A Licence Renewal Application was lodged on 5 April 2016. It was approved on 13 May 2016 for a further term of 2 years and will expire on 17 April 2018. All 116 sub-blocks were retained.

The 11[th] Annual Technical Report was lodged on 24 April 2017 and accepted as satisfactory by the DME on the 27 April 2017.

No field work was carried out. A full review of all data available is underway to guide further exploration on the tenement.

LAURA RIVER Au-Pt PROJECT: (EMP15242) (GES:100%)

The Laura River project consists of Exploration Licence EPM15242 covering 82.67 sq km is centered on the Cape York Peninsular township of Laura, 210km north-west of Cairns and 88km west of Cooktown in North Queensland (Figure 4) . The area is prospective for gold. Several historical alluvial workings are found in the vicinity of the Laura River and tributaries.

The 9[th] Annual Technical Report was lodged on the 2 September 2016.

A Licence Renewal Application was lodged on the 19 May 2016 requesting another 2 year term. The renewal application was approved on the 26 August 2016. The new expiry date is the 23 August 2018.

As per the conditions of the exploration permit Genesis were required to relinquish 25 sub blocks from EPM 15242. A Partial Relinquishment Report was lodged on the 20 June 2016. 25 of the 50 sub blocks were relinquished, 25 sub-blocks were retained. EPM15242 now covers 82.67sq km.

A Partial Surrender of an Environmental Authority was lodged on the 22 June 2016 and approved on the 30 June 2016.

No field work was carried out.

FENN GAP Mn-Fe PROJECT: (EMP24839) (GES:100%)

The Fenn Gap project consists of one Exploration Licence EL24839 which covers a total area of 26.93 sq km, is located approximately 25 km south west of Alice Springs in the Northern Territory (Figure 4) . The project is 25 km from major infrastructure such as the Stuart Highway and Alice to Adelaide Railway.

A Licence Renewal Application requesting another two-year period was lodged on the 26 April 2016. The renewal application was approved on the 25 July 2016. The new expiry date is the 5 May 2018.

The 9[th] Annual Technical Report was lodged on 8 May 2017 and accepted as satisfactory by the DME on the 24 May 2017.

No field work was carried out. A full review of existing data has been completed. A further, more detailed review of drilling data is underway to determine if drilling has adequately tested the known manganese mineralisation.

Genesis Resources Limited | Quarterly Activities Report | April 2017 – June 2017

Page 11

TENEMENTS AS AT 30 June 2017

PROJECT TENEMENT NUMBER COMMODITY COMPANY’S BENEFICIAL INTEREST CURRENT AREA (KM2) CURRENT HOLDER COUNTRY/ STATE	PROJECT TENEMENT NUMBER COMMODITY COMPANY’S BENEFICIAL INTEREST CURRENT AREA (KM2) CURRENT HOLDER COUNTRY/ STATE
Alice Springs	EL24817 Copper-Iron- Gold 100% 372.59 Genesis NT
Arltunga	EL25238 Gold-PGE 100% 95.2 Genesis NT
Fenn Gap	EL24839 Iron- Manganese 100% 26.93 Genesis NT
Laura River	EMP15242 Gold-PGE 100% 82.67 Genesis QLD
Pioneer	EPM15619 Gold 100% 6.23 Genesis QLD
McArthur River	EL24814 Manganese- Base Metals 100% 380.88 Genesis NT
Gladstone	EPM15771 Manganese 100% 42.62 Genesis QLD
Mt Miller Abandoned on 17/05/2017	MLA80166 Manganese 100% 32.24 Ha Genesis QLD
Plavica & Crn Vrv	19-6648/1 Gold-Silver- Copper 62% 16.85 Silgen Resources Macedonia

All tenements noted above are Exploration Licences except Plavica in Macedonia which is an Exploitation Licence.

Genesis Resources Limited | Quarterly Activities Report | April 2017 – June 2017

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CORPORATE UPDATES

Securities on issue as at 30 June 2017

CLASS OF SECURITIES NO. OF SECURITIES ON ISSUE Fully paid ordinary shares 638,999,119

Board and Management as at 30 June 2017

Mr Eddie Pang Managing Director / Executive Chairman Mr Deric Wee Non-Executive Director Mr Kim Heng Lim Non-Executive Director Mr Chin Niap Mah Non-Executive Director Mr James Patterson Exploration Manager / Non-Executive Director Mr Yau Young Lim Non-Executive Director Ms Sophie Karzis Company Secretary Ms Patricia Wong Chief Financial Officer

COMPETENT PERSON

The information in this report that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by James Patterson, a Competent Person who is a Member of the Australian Institute of Geoscientists. James Patterson is a full-time employee of Genesis. James Patterson 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’. James Patterson consents to the inclusion in the report of the matters based on his information in the form and context of which it appears.

-ENDS

About Genesis Resources Limited

Genesis Resources Limited is an Australian company with a portfolio of quality gold, iron, manganese, uranium and base metal (copper-zinc-silver) in the highly prospective Proterozoic and Phanerozoic metallogenic provinces of northern and central Australia. Genesis has signed a Joint Venture over an advanced copper-gold project (Plavica) within the Former Yugoslav Republic of Macedonia. The Plavica Project lies within Carpathian Volcanic Arc, a major epithermal province running through Eastern Europe, which is highly prospective for gold, copper and silver mineralisation. Genesis’ projects are close to established infrastructure including railways, shipping ports, highways, power stations and populated areas. The Company’s objective is to provide rapid capital growth through mineral discoveries and development of economic deposits in Australia and overseas.

For more information please visit the Company’s website at: www.genesisresourcesltd.com.au

Genesis Resources Limited | Quarterly Activities Report | April 2017 – June 2017

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Appendix 1 Reporting of Exploration Results – Plavica Project JORC Code, 2012 Edition – Table 1 Report

The following section is provided to ensure compliance with the JORC (2012) requirements for the reporting of Exploration Results for the Plavica project.

Section 1 - Sampling Techniques and Data

Criteria	JORC Code explanation	Commentary
Sampling	• Nature and quality of sampling (eg cut channels, random chips, or	•N/A
techniques	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	•N/A
	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	•Holes were generally drilled towards grid north with dips of
	used.	approximately 60 degrees to optimally intersect the steeply dipping
	• Aspects of the determination of mineralisation that are Material to the	east-west striking mineralised zones of high sulphidation style
	Public Report.	epithermal mineralization. Some holes at Maricanski Rid were drilled
		to the south as well as some vertically due to lack of access for drill
		pads and the sub-horizontal nature of the mineralization there. Water
		monitoring bores are all vertical.
	• In cases where ‘industry standard’ work has been done this would be
	relatively simple (eg ‘reverse circulation drilling was used to obtain 1	•The drill hole locations are to be picked up by local survey contractors
	m samples from which 3 kg was pulverised to produce a 30 g charge	using a DGPS (Differential Global Positioning System).
	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.	•Down hole surveys have been undertaken using a Reflex EZ-Trac tool. Down hole surveys were conducted at intervals of 25m.
		•All DD holes completed by the Genesis were sampled by cutting the
		core longitudinally in half using diamond saws. Sampling of diamond
		core was also undertaken on 1m intervals.
		•Diamond core was drilled to obtain high quality samples that were
		logged for lithological, structural, geotechnical, density and other
		attributes. Sampling of diamond core was also on one meter intervals
		with the core being cut in half using a diamond core saw
		•Sub-samples of ~3 kg were sent to the laboratory for assaying.
		Analysis has been performed by commercial laboratories with
		samples sent to SGS Ankara. The samples sent to SGS follow
		standard SGS crushing and pulverization procedures and a
		conventional fire assay procedure with either atomic absorption or
		gravimetricfinishona 30 gramsub-sample. FireAssayis considered

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Criteria	JORC Code explanation	Commentary
		a total recovery method for gold.
		•QC samples have been inserted into the routine sample stream to
		monitor sample quality as per industry best practice. These include
		standards, blanks and duplicates at regular (25m intervals)
		•RC Samples were split every 1m at the rig using a riffle splitter and
		the sub-samples ofapproximately 3kg sent to SGSAnkara.
Drilling	• Drill type (eg core, reverse circulation, open-hole hammer, rotary air	•The core drill rigs used 3m drill rods. Diamond drilling has employed a
techniques	blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple	63.5mm diameter HQ ‘standard tube’ core drilling methods.
	or standard tube, depth of diamond tails, face-sampling bit or other	•RC drilling has been completed with 6m rods using a 4.5” or 121 mm
	type, whether core is oriented and if so, by what method, etc).	face sampling hammer bit.
		•Orientations are completed every run (maximum 3m) using a spear
		technique. Diamond drill core is typically orientated where possible
		though often the core is highly fractured and cannot be reliably
		orientated using standard techniques.
Drill sample	• Method of recording and assessing core and chip sample recoveries	•Diamond drill core is assessed by measuring the recovered drill
recovery	and results assessed.	length against the actual drilled. Diamond drill recovery is generally
	• Measures taken to maximise sample recovery and ensure	above 95%. Recoveries drop to less than this in minor (1-2m) zones
	representative nature of the samples.	of vuggy silica and clay.
	• 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.	•RC sample weights have been taken on all primary samples. Theoretical sample weights are then compared to the actual sample to identify any intervals that have had poor recovery. Average recoveries
		for RC holes are >95% but can vary significantly between holes.
		•No detailed analysis of grade versus recovery has been undertaken
		at this stage however comparison of RC against DD gold results
		indicates a slight positive bias for RC drilling. This may indicate some
		loss of fines when using DD methods.
		•No coarse gold has been observed through Photo-micrographic
		studies.

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Criteria	JORC Code explanation	Commentary
Logging	• Whether core and chip samples have been geologically and	•All drill holes have been logged in full and record standard criteria
	geotechnically logged to a level of detail to support appropriate	such as lithology, alteration, mineralisation, structures, weathering
	Mineral Resource estimation, mining studies and metallurgical	and oxidation. Geotechnical data such as drill recovery, RQD,
	studies.	hardness, fracture type and frequency are also recorded for input into
	• Whether logging is qualitative or quantitative in nature. Core (or	future scoping level mining studies.
	costean, channel, etc) photography.
	• The total length and percentage of the relevant intersections logged.	•All logging is entered into excel spreadsheet templates or onto hard
		copy forms which are transferred to excel spreadsheets. These
		spreadsheets are then routinely imported into Micromine.
		•All diamond core is photographed in a wet and dry state.
Sub-	• If core, whether cut or sawn and whether quarter, half or all core	•Refer to the above sampling techniques
sampling	taken.	•Quarter core duplicates are submitted every 50m.
techniques	• If non-core, whether riffled, tube sampled, rotary split, etc and
and sample	whether sampled wet or dry.
preparation	• 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.
Quality of	• The nature, quality and appropriateness of the assaying and	•Refer to the above analysis methods
assay data	laboratory procedures used and whether the technique is considered
and	partial or total.	•Industry standard QC sample insertion procedures have been
laboratory	• For geophysical tools, spectrometers, handheld XRF instruments, etc,	adopted. QC insertion rates are:
tests	the parameters used in determining the analysis including instrument	- every 50m is a field duplicate,
	make and model, reading times, calibrations factors applied and their	- every 25m is a Standard,
	derivation, etc. • Nature of quality control procedures adopted (eg standards, blanks,	- every 50m is a coarse blank
	duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.	•The QAQC results indicate acceptable levels of precision and accuracy

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Criteria	JORC Code explanation	Commentary
Verification	• The verification of significant intersections by either independent or	•Samples are currently submitted to an umpire laboratory and are
of sampling	alternative company personnel.	comparable with the originals.
and	• The use of twinned holes.
assaying	• Documentation of primary data, data entry procedures, data	•Data is imported into Micromine. There is no adjustment of assay
	verification, data storage (physical and electronic) protocols.	data.
	• Discuss any adjustment to assay data.
Location of	• Accuracy and quality of surveys used to locate drill holes (collar and	•A local control station near the project is utilised by the local
data points	down-hole surveys), trenches, mine workings and other locations	surveying contractor. Holes are routinely surveyed using Surveyors
	used in Mineral Resource estimation.	with DGPS equipment.
	• Specification of the grid system used.
	• Quality and adequacy of topographic control.	•All surveys are taken using the Gauss–Krüger (GK) coordinate
		system which has been the system used for survey by Genesis at
		Plavica since 2012.
Data spacing	• Data spacing for reporting of Exploration Results.	•The nominal drill hole spacing is 50m (easting) x 50m (northing)
and	• Whether the data spacing and distribution is sufficient to establish the
distribution	degree of geological and grade continuity appropriate for the Mineral	•Samples are collected at one meter lengths and are not composited
	Resource and Ore Reserve estimation procedure(s) and	in the field / core-shed.
	classifications applied.
	• Whether sample compositing has been applied.
Orientation	• Whether the orientation of sampling achieves unbiased sampling of	•Holes were generally drilled towards grid north with dips of
of data in	possible structures and the extent to which this is known, considering	approximately 45 to 60 degrees to optimally intersect the steeply
relation to	the deposit type.	dipping east-west striking mineralised zones
geological	• If the relationship between the drilling orientation and the orientation
structure	of key mineralised structures is considered to have introduced a	•No orientation based sampling bias has been identified in the data at
	sampling bias, this should be assessed and reported if material.	this stage
Sample	• The measures taken to ensure sample security.	•Chain of Custody is managed by Genesis Staff. All drilling assay
security		samples were collected from the field by Genesis personnel. Core
		samples were stored at the secure sample processing and storage
		facility where they were subsequently processed and prepared for
		pickup. This facility has CCTV. Assay samples were collected by
		appropriately qualified staff at the laboratories.

Genesis Resources Limited | Quarterly Activities Report | April 2017 – June 2017

Page 17

Criteria	JORC Code explanation	Commentary
Audits or	• The results of any audits or reviews of sampling techniques and data.	•An audit of drilling and sampling procedures was undertaken by
reviews		Golder Associates in 2012 at the commencement of that years drilling
		program. A number of priority based recommendations were provided
		to Genesis. All priority 1 recommendations were implemented and
		many of the lower priority actions have also been completed. The
		implementation of these recommendations has provided increased
		confidence in the quality of the data used in the resource estimate

Section 2 – Reporting of Exploration Results.

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	•A 30 year Exploitation Licence and Concession Agreement were granted to Silgen Resources International Ltd, an incorporated joint venture entity owned by Genesis and its Macedonian-based joint venture partner RIK Sileks AD Kratovo. Silgen is 62% owned by
		settings.	Genesis. The JV Company has been formally granted the Licence for
	•	The security of the tenure held at the time of reporting along with	a term of 30 years. The area covered by the Licence totals 16.85 km2.
		any known impediments to obtaining a licence to operate in the	•Genesis has pledged its 62% share of Silgen to completing a Feasibility
		area.	Study to mine Plavica and has agreed to spend USD $7.5M for this
			work.
			•All Australian Tenements are Exploration Licences except Mt Millar
			which is a Mining Lease Application and are 100% owned by Genesis.
Exploration done by other parties	• Acknowledgement and appraisal of exploration by other parties.		•At Plavica previous small scale mining was undertaken by Romans and Ottoman Turks. 2 adits were completed by British Mines Selection in the 1930’s targeting enargite veins.
			•Previous exploration has been conducted by the Yugoslav
			Government, Cyprus Amax, Rio Tinto and European Minerals.

Genesis Resources Limited | Quarterly Activities Report | April 2017 – June 2017

Page 18

Criteria	JORC	Code explanation	Commentary
Geology	• Deposit type, geological setting and style of mineralisation		•Both Plavica and Maricanski Rid host oxide gold mineralization in
			vuggy silica and clay zones within silica caps of a high sulphidation
			epithermal style setting. Alunite alteration is common.
			•Beneath this oxide zone is a series of steeply dipping E-W striking
			structures comprising enargite-pyrite veins and vuggy silica zones.
			These zones are rich in Au, Cu, Ag and occasionally Pb and Zn.
			•The prospects lie within the Western Tethyan Arc and are Tertiary in
			age.
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:	•All drill hole collars with location, elevation, depth, dip and azimuth are tabulated in the body of the report.
		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.
Data aggregation methods	• •	In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. 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.	•A 0.4 g/t Au cut-off is used for reporting of Au grades and a 0.3 % for Cu grades. No top cuts are used. •A minimum of 3m length is used for compositing and a maximum of 3m of internal waste is used. These parameters are considered adequate for this deposit style. •No metal equivalents used
	•	The assumptions used for any reporting of metal equivalent values
		should be clearly stated.
Relationship between	•	These relationships are particularly important in the reporting of Exploration Results.	•Core orientation and sectional interpretation suggest the mineralised zones are sub-vertical.
mineralisation	•	If the geometry of the mineralisation with respect to the drill hole angle
widths and intercept lengths	•	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 (e.g. ‘down hole length, true width not known’).	•Holes are drilled on 45 to 60 degree angles to intersect the zones at the highest angle possible but also taking into account the steep topography of the area and the difficulty of locating drill pads. As a result the mineralized zones are intersected at an oblique angle and
			therefore down-hole lengths are not true widths.

Genesis Resources Limited | Quarterly Activities Report | April 2017 – June 2017

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Criteria	JORC	Code explanation	Commentary	Commentary
Diagrams	•	Appropriate maps and sections (with scales) and tabulations of	•	A plan and section are included.
		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.
Balanced	•	Where comprehensive reporting of all Exploration Results is not	•	Of the holes reported this Quarter, most had significant results though
reporting		practicable, representative reporting of both low and high grades and/or		some were low grade.
		widths should be practiced to avoid misleading reporting of Exploration
		Results.
Other	•	Other exploration data, if meaningful and material, should be reported	•	N/A.
substantive		including (but not limited to): geological observations; geophysical
exploration		survey results; geochemical survey results; bulk samples – size and
data		method of treatment; metallurgical test results; bulk density,
		groundwater, geotechnical and rock characteristics; potential
		deleterious or contaminating substances.
Further work	•	The nature and scale of planned further work (e.g. tests for lateral	•	A Pre-Feasibility Study is currently underway. A few more geotechnical
		extensions or depth extensions or large-scale step-out drilling).		and water monitoring bores remain to be drilled in the September
	•	Diagrams clearly highlighting the areas of possible extensions, including		Quarter. Some of these will be sampled.
		the main geological interpretations and future drilling areas, provided
		this information is not commercially sensitive.

Genesis Resources Limited | Quarterly Activities Report | April 2017 – June 2017

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Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

++Rule 5.5

Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

Introduced 01/07/96 Origin Appendix 8 Amended 01/07/97, 01/07/98, 30/09/01, 01/06/10, 17/12/10, 01/05/13, 01/09/16

Name of entity

GENESIS RESOURCES LIMITED

ABN 22 114 787 469	Quarter ended (“current quarter”)
22 114 787 469	30 June 2017

Consolidated statement of cash flows	Current quarter $A’000	Year to date (12 months) $A’000
1. Cash flows from operating activities 1.1 Receipts from customers 1.2 Payments for (a) exploration & evaluation (b) development (c) production (d) staff costs (e) administration and corporate costs 1.3 Dividends received 1.4 Interest received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Research and development refunds 1.8 Other (provide details if material) 1.9 Net cash from / (used in) operating activities	(562) - - (348) (94) - 2 - (21) - -	(3,688) - - (1,045) (874) - 3 - (92) - -
	(1,023)	(5,696)
2. Cash flows from investing activities 2.1 Payments to acquire: (a) property, plant and equipment (b) tenements (see item 10) (c) investments (d) other non-current assets	(5) - - -	(6) - - -

• See chapter 19 for defined terms

1 September 2016

Page 1

Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

Consolidated statement of cash flows	Current quarter $A’000	Year to date (12 months) $A’000
2.2 Proceeds from the disposal of: (a) property, plant and equipment (b) tenements (see item 10) (c) investments (d) other non-current assets 2.3 Cash flows from loans to other entities 2.4 Dividends received (see note 3) 2.5 Other (provide details if material) 2.6 Net cash from / (used in) investing activities	- - - - - - -	- - - - - - -
	(5)	(6)
3. Cash flows from financing activities 3.1 Proceeds from issues of shares 3.2 Proceeds from issue of convertible notes 3.3 Proceeds from exercise of share options 3.4 Transaction costs related to issues of shares, convertible notes or options 3.5 Proceeds from borrowings 3.6 Repayment of borrowings 3.7 Transaction costs related to loans and borrowings 3.8 Dividends paid 3.9 Other (Proceeds from underwritten portion of rights issue; corresponding shares allotted subsequent to 30 September 2016) 3.10 Net cash from / (used in) financing activities	- - - - - - - - -	3,286 - - - 500 (271) - - 2,000
	-	5,515
4. Net increase / (decrease) in cash and cash equivalents for the period 4.1 Cash and cash equivalents at beginning of period 4.2 Net cash from / (used in) operating activities (item 1.9 above) 4.3 Net cash from / (used in) investing activities (item 2.6 above) 4.4 Net cash from / (used in) financing activities (item 3.10 above)	1,315 (1,023) (5) -	504 (5,696) (6) 5,515

• See chapter 19 for defined terms 1 September 2016

Page 2

Appendix 5B Mining exploration entity and oil and gas exploration entity quarterly report

Consolidated statement of cash flows	Current quarter $A’000	Year to date (12 months) $A’000
4.5 Effect of movement in exchange rates on cash held 4.6 Cash and cash equivalents at end of period	(9)	(39)
	278	278
5. Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts	Current quarter $A’000	Previous quarter $A’000
5.1 Bank balances 5.2 Call deposits 5.3 Bank overdrafts 5.4 Other (Term deposits - bank guarantee) 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above)	278 - - 98	1,315 - - 98
	376	1,413
6. Payments to directors of the entity and their associates Current quarter $A'000 6.1 Aggregate amount of payments to these parties included in item 1.2 - 6.2 Aggregate amount of cash flow from loans to these parties included in item 2.3 - 6.3 Include below any explanation necessary to understand the transactions included in items 6.1 and 6.2
		Current quarter $A'000
		-
		-
None
7. Payments to related entities of the entity and their associates Current quarter $A'000 7.1 Aggregate amount of payments to these parties included in item 1.2 - 7.2 Aggregate amount of cash flow from loans to these parties included in item 2.3 - 7.3 Include below any explanation necessary to understand the transactions included in items 7.1 and 7.2
		Current quarter $A'000
		-
		-
None

• See chapter 19 for defined terms 1 September 2016

Page 3

Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

8. Financing facilities available Add notes as necessary for an understanding of the position 8.1 Loan facilities 8.2 Credit standby arrangements 8.3 Other (please specify)	Total facility amount at quarter end $A’000	Amount drawn at quarter end $A’000
	7,000	-
	-	-
	-	-

• 8.4 Include below a description of each facility above, including the lender, interest rate and whether it is secured or unsecured. If any additional facilities have been entered into or are proposed to be entered into after quarter end, include details of those facilities as well.

(i) In September 2013, the Company entered into a loan agreement with an unrelated Malaysian based financing company pursuant to which the financing company made available a loan facility to the Company, with a $3 million facility limit ( First Loan Facility ) at 8% per annum. In April 2014, the parties reached an agreement to increase the First Loan Facility limit from $3 million to $7 million on the same terms and conditions provided for in the existing loan agreement. Total funds of $7 million remain available for draw down by Genesis under the First Loan Facility.

9. Estimated cash outflows for next quarter	$A’000
9.1 Exploration and evaluation 9.2 Development 9.3 Production 9.4 Staff costs 9.5 Administration and corporate costs 9.6 Other (provide details if material) 9.7 Total estimated cash outflows	1,375 - - 300 133 -
	1,808

10. Changes in tenements (items 2.1(b) and 2.2(b) above)	Tenement reference and location	Nature of interest	Interest at beginning of quarter	Interest at end of quarter
10.1 Interests in mining tenements and petroleum tenements lapsed, relinquished or reduced	-	-	-	-
10.2 Interests in mining tenements and petroleum tenements acquired or increased	-	-	-	-

• See chapter 19 for defined terms 1 September 2016

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Appendix 5B

Mining exploration entity and oil and gas exploration entity quarterly report

Compliance statement

• 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.

• 2 This statement gives a true and fair view of the matters disclosed.

Sign here: ............................................................ Date: 26 July 2017 (Director/ ~~Company secretary~~ )

Print name: Eddie Pang

Executive Chairman

Notes

1. The quarterly report provides a basis for informing the market how the entity’s activities have been financed for the past quarter and the effect on its cash position. An entity that wishes to disclose additional information is encouraged to do so, in a note or notes included in or attached to this report.

2. If this quarterly report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report.

3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.

4. See chapter 19 for defined terms 1 September 2016

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