GODOLPHIN RESOURCES LIMITED — Capital/Financing Update 2020

Oct 5, 2020

ASX ANNOUNCEMENT

ASX & Media Release

6 October 2020

ASX Symbol

GRL

Godolphin Resources Limited

3 Barrett Street Orange NSW 2800

PO Box 9497 Orange East NSW 2800 Australia

Telephone

+61 431 477145

Email

info@godolphinresources.com.au

Website

www.godolphinresources.com.au

Directors

Jeremy Read Non-Executive Chair

Ian Buchhorn Non-Executive Director

Doug Menzies Non-Executive Director

Management

David Greenwood Chief Executive Officer

Issued Capital

Fully Paid Ordinary Shares 68,095,874

Unlisted options exercisable at $0.25 20,000,000

exercisable at $0.20 29,139,638

ACN 633 779 950

GOLD AND SILVER POTENTIAL AT LEWIS PONDS HIGHLIGHTED BY HISTORICAL DRILL HOLES

• Significant historical drill holes including 91m @ 2.3g/t gold, 79g/t silver, 3.3% zinc & 2.2% lead in TLPD-12 highlight the precious metal potential at Lewis Ponds

• Re-modelling of the mineral resource at Lewis Ponds is curently in progress, focussing on areas with higher grade gold and silver grades

• Lewis Ponds currently contains an estimated Mineral Resource of 20.24Mt @ 0.5g/t Au, 33.3g/t Ag, 1.5% Zn, 0.7% Pb & 0.1% Cu, which is classifed as Inferred and Indicated in accordance with JORC (2012)[1]

Godolphin Resources Limited ( Godolphin , GRL or the Company ) is pleased to announce that an extensive review of historical data has highlighted the substantial gold and silver potential at the Company’s high priority Lewis Ponds project, formerly considered a base metals project.

Godolphin previously announced significant precious metals in recently defined soil anomalies at Lewis Ponds (see announcement 15 September 2020), and noted a follow up review of historical data, focussing on high-grade gold and silver lenses, would be undertaken. This work included remodelling of the existing Mineral Resource at Lewis Ponds in order to provide a better understanding of the distribution of the higher-grade gold and silver portions of the lenses, to define follow-up drill targets and facilitate preliminary financial modelling.

Pleasingly, the historical drill hole assays and cross sections (see below) highlighted a number of high-grade gold and silver intercepts, such as 91m @ 2.3g/t gold, 79g/t silver, 3.3% zinc & 2.2% lead (TLPD-12). Lewis Ponds is located on the same geological structure as Regis’ 2Moz McPhillamys gold project, [2] and together with the recent soil survey results (which defined significant precious and base metal anomalies over a strike length of 1,300 metres), the historical results confirm there are high-grade gold and silver areas within the resource.

The Company is now re-modelling the mineral resource at Lewis Ponds by focusing on these higher-grade gold and silver areas (which have accompanying high zinc and lead values). Once completed, the resource re-modelling will be verified and signed off by an independent consultant.

Godolphin will then design an exploration programme which will include resource definition drilling in and around the existing resource, as well as drilling in areas outside the currently defined mineral resource which have been highlighted as exceptional targets by the recent soil survey. These areas include the limestone quarry and to the north and north west of the historical Tom’s mine. This exploration programme may include metallurgical test work focussing in the areas with higher gold and silver content.

Godolphin’s CEO David Greenwood commented:

“Godolphin sees major unrealised potential in the Lewis Ponds mineral resource with the project economics being primarily driven by the gold and silver content and less by the lead and zinc content as has historically been the case. The current high gold and silver prices are game changers for Lewis Ponds. In our remodelling of the mineral resource we are focussing on the ore lenses with higher precious metal values and these results will assist in planning and executing future exploration and work programmes at Lewis Ponds.”

1 See page 28 of Godolphin Resources prospectus announced to the ASX on 16 December 2019. 2 ASX: RRL 21 September 2020.

The Company is not aware of any new information or data that materially affects the information included in the referenced ASX announcement and confirms that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed.

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Background

The 100% owned Lewis Ponds project ( Lewis Ponds or the Project ) consists of EL5583 which covers approximately 148 km² located 15km east of Orange (Figures 1 & 2).

This Project is a high priority for Godolphin due to the extensive historic gold and base metal workings, a current Mineral Resource Estimate (see page 28 of the Godolphin Prospectus, lodged with the ASX on 16 December 2019 ), and freehold title held by TriAusMin (a wholly owned subsidiary of Godolphin).

Historical mining and exploration at the Lewis Ponds focussed predominantly on base metals with associated gold and silver as by-products. At today’s metal prices an analysis of higher-grade gold-silver resources previously defined at Lewis Ponds, indicates that precious metals represent the higher proportion of contained revenue.

A number of historical drill holes highlight the significance of precious metals at Lewis Ponds. In addition, recent soil assay results from Lewis Ponds have defined significant precious and base metal anomalies over a strike length of 1,300 metres. These results provide a number of high priority targets for follow-up, in areas with limited historical drilling.

The proximity of Lewis Ponds to the McPhillamys gold project (which lies on the same geological structure) underscores the gold potential at Lewis Ponds.

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Figure 1: Lewis Ponds Project Area

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Hole_ID	East	North	Dip	bearing	From	To	Width	Au_g/t	Ag_g/t	Zn_%	Pb_%	Cu_%
TLPD‐03 Including	709727	6316704	‐60	224	162 177	193 185	31 8	1.03 2.63	45 82	2.0 3.2	1.0 1.6	0.08 0.12
TLPD‐04 Including	709626	6316843	‐60	224	178 184	199 192	21 8	3.68 7.61	122 177	4.1 4.5	2.5 3.7	0.30 0.45
TLPD‐09A Including	709751	6316788	‐65	213	253 270	274 273	21 3	1.39 6.60	15 29	1.0 0.8	0.5 0.6	0.05 0.06
TLPD‐12 Including Including Including	709769	6316924	‐75	223	427 455 476 497	518 465 481 502	91 10 5 5	2.30 8.82 3.28 3.15	79 255 174 172	3.3 8.9 13.6 5.1	2.2 5.8 8.8 3.7	0.15 0.28 0.33 0.32
TLPD‐20 Including	709717	6316951	‐65	223	365 373	376 376	11 3	3.12 10.84	63 212	2.4 7.2	1.8 5.6	0.15 0.48
TLPD‐21W Including	709719	6316951	‐75	223	409 428	465 445	56 17	1.26 2.88	57 110	1.5 3.1	0.9 2.0	0.10 0.20
TLPD‐28W Including	709857	6316954	‐80	224	575 575	597 580	22 5	2.24 7.73	28 34	0.2 0.3	0.2 0.2	0.05 0.06
TLPD‐36 Including	709623	6316835	‐66	228	192 196	214 202	22 6	2.76 6.26	183 375	3.8 6.1	2.4 4.2	0.19 0.24
TLPD‐06A Including	709739	6316816	‐60	223	300 300	320 309	20 9	3.23 5.96	100 120	3.5 4.1	1.8 2.2	0.25 0.38
TLPD‐46A	710202	6316208	‐43	223	124	130	6	2.53	127	9.4	6.1	0.30
TLPD‐51A	710273	6316186	‐70	238	474	491	17	2.00	301	6.3	5.7	0.43
TLPD‐51AW1	710273	6316186	‐70	238	475	480	5	5.00	465	8.1	6.8	0.55
TLPD‐51AW2	710273	6316186	‐70	238	388	397	9	1.71	150	10.7	6.7	0.22
TLPD‐52	710213	6316198	‐55	213	170	176	6	1.43	66	4.7	2.5	0.18
Note: Historic samplingdid not always continue throughout the mineralised zones.

Historical drill holes highlight significant precious metals intersections

Table 1 below highlights a number of significant historical gold and silver drill hole intersections (with accompanying base metals). These drill holes are located in the northern part of the Lewis Ponds resource and coincide with the area of highly anomalous precious metals located in the recent soil survey.

Table 1:Table summarising historic critical intercepts on Lewis Ponds

Cross sections

The two cross sections (Figures 3 & 4 below) illustrate continuity of higher-grade precious metals areas. The company is currently re-modelling the resource around these higher-grade gold and silver areas (which have accompanying high zinc and lead values). Once resource re-modelling is completed by Godolphin it will be verified and signed off by an independent consultant.

Section “A” is about 150m from the northern extent of the current geological model. This model is still open to the north with a limited amount of drill intercepts. Future work will explore this northern extension via soil sampling and drilling.

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Figure 2: Location plan of section depicted in this document

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Figure 3: Section "A". 42m Wide section looking NNW and depicting 6 historic drill holes and their critical gold intercepts greater than 0.8g/t

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Figure 4:Section "B". 42m Wide section looking NNW and depicting 3 historic drill holes and their critical gold intercepts greater than 0.8g/t

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Future Work

Lewis Ponds is a high-potential project for Godolphin. Following the historical review and remodelling of mineral resources currently in progress, the Company intends to undertake an exploration drilling programme targeting gold and silver. This will help the Company better understand the precious metals potential of the project and as Godolphin ultimately aims to increase the higher-grade gold-silver Mineral Resources at the Lewis Ponds Project. This work programme may include metallurgical studies to investigate future potential processing options.

Godolphin looks forward to keeping shareholders updated with further news about the exciting new developments at Lewis Ponds.

ENDS

This market announcement has been authorised for release to the market by the Board of Godolphin Resources Limited.

For further information regarding Godolphin, please visit godolpinresources.com.au or contact:

David Greenwood Chief Executive Officer Godolphin Resources Limited Tel +61 438 948 643

About Godolphin Resources

Godolphin Resources (“Godolphin” – ASX: GRL) is an ASX listed resources company, with 100% controlled Australianbased projects in the Lachlan Fold Belt (LFB) NSW, a world-class gold-copper province. Currently the Company’s tenements cover 3200km2 of highly prospective ground focussed on the Lachlan Transverse Zone, one of the key structures which controlled the formation of copper and gold deposits within the LFB, the Godolphin Fault and the Molong Volcanic Belt. The Gundagai projects are associated with a splay of the Gilmore Suture mineralised structure. The Orange-based Godolphin team is rapidly exploring its tenement package with focussed, cost effective exploration leading to systematic drilling programmes.

Competent Person Statement

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

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Appendix 1 – JORC Code, 2012 Edition, Table 1 report

Section 1 Sampling Techniques and Data (Criteria in this section applies to all succeeding sections)

Criteria	JORC Code explanation	Commentary
Sampling techniques	 Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.  Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.  Aspects of the determination of mineralisation that are Material to the Public Report.	 None of the results/data mentioned in this release was collected by GRL and only historic data is mentioned.
Drilling techniques	 Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details.	 Historic Diamond holes and one RC hole is mentioned in the release.
Drill sample recovery	 Method of recording and assessing core and chip sample recoveries and results assessed.	 Not applicable.
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.	 Historic geological logs and assays are available
Sub-sampling techniques and sample preparation	 For all sample types, the nature, quality and appropriateness of the sample preparation technique.	 Not applicable
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.  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.	 Historic sample and QAQC.
Verification of sampling and assaying	 The verification of significant intersections by either independent or alternative company personnel.  Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.  Discuss any adjustment to assay data.	 Not applicable
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.	 Historic data
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.	 Not applicable
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.	 Not applicable.
Sample security	 The measures taken to ensure sample security.	 Not applicable
Audits or reviews	 The results of any audits or reviews of sampling techniques and data.	 Historic data

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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 license to operate in the area.	 The Lewis Ponds project is comprised of tenement EL5583 located approximately 14km east-northeast of the city of Orange, central New South Wales, Australia. Local relief at the site is between 700 and 900m above sea level. Access to the area is by sealed and gravel roads and a network of farm tracks.  The exploration rights to the project are owned 100% by the Godolphin Resources through the granted exploration license EL5583_._  Security of $40,000 is held by the Department of Planning and Environment in relation to EL5583
Exploration done by other parties	 Acknowledgment and appraisal of exploration by other parties.	 See appendix 2 EL 5583 was granted to TriAusMin in 1999 for an area of 71 units and replaced three previously held exploration licenses (EL 1049, EL 4137 and EL 4432). In the 2006 renewal, the license was party relinquished to 57 units and the following year TriAusMin purchased 289 hectares of freehold land over Lewis Ponds. Upon renewal in 2011, EL 5583 was reduced to 51 units for a further term until 24thJune 2014. The second renewal of EL 5583 was granted until June of 2017 with no reduction in tenement size. On August 5th2014, TriAusMin underwent a corporate merger with Heron Resources Limited which resulted in Heron acquiring 100% of EL 5583 and the 289 hectares of freehold land over Lewis Ponds. In 2017, Ardea Resources Ltd was “spun out” as a new company, and gained ownership of EL 5583, with TriAusmin becoming a wholly owned subsidiary of Ardea. In 2019, Godolphin Resources Ltd was “spun out” as a new company, and gained ownership of EL 5583, with TriAusmin becoming a wholly owned subsidiary of Godolphin. In the 1850’s gold was discovered at Ophir At this time Lewis ponds was already a small mining camp. Shallow underground mining took place at Spicers, Lady Belmore, Tom’s Zone and on several mines in the Icely area during the period 1887 to 1921. In 1964, a number of major companies including Aquitaine, Amax, Shell and Homestake explored the region looking for depth and strike extensions of the Lewis Ponds mineralisation but failed to intersect significant mineralisation. These companies had drilled approximately 8,500 metres. Not commonly noted, but of great significance is the fact that much of Lewis Ponds’ early development was in lieu of the high grades of silver in its ores. It appears that silver was the major commodity mined at different points of the mines’ history.
Geology	 Deposit type, geological setting and style of mineralization.	The Lewis Ponds Project occurs on the western margin of the Hill End Trough in the eastern Lachlan Fold Belt, which hosts a range of base metals in volcanic-hosted massive sulphide deposits (VMS), porphyry copper-gold and gold deposits, including Woodlawn (polymetallic), Cadia-Ridgeway (Cu-Au), North Parkes (Cu-Au), Copper Hill (Cu-Au), Tomingley (Au) and McPhillamys (Au). The Molong Volcanic Belt is west of the EL 5583 and comprises Ordovician to early Silurian basal units of mafic to ultramafic volcanic and sedimentary rocks of the Kenilworth and Cabonne Groups. These units are separated from the Hill End Trough by the extensive Godolphin Fault Thrust System. The Mumbil Group unconformably overlies the Molong Volcanic Belt and comprises shallow-water Later Silurian sequence of felsic volcanics, volcaniclastics, siltstone and limestone. Part of this Group is the Barnby Hills Formation at Lewis Ponds and comprises (tuffaceous) siltstones overlying limestone and rhyodacitic volcaniclastics. To the east and conformably overlying rocks of the Mumbil Group, siltstone and minor sandstone units form part of the Silurian-Early Devonian Hill End Trough sedimentary sequence The Lewis Ponds deposit is located in a locally highly structured zone within the western limb of a north-west plunging syncline. The deposit consists of stratabound, disseminated to massive sulphide lenses.

Criteria	JORC Code explanation	Commentary
		The deposit is hosted in Silurian felsic to intermediate volcanic rocks as a thin, mostly fine-grained sedimentary unit with occasional limestone lenses that has undergone significant deformation and is now defined as a steeply east dipping body with mineralisation that occurs over a strike length of more than 2km. The Southern mineralisation occurs within a limestone breccia and Tom’s mine is hosted by siltstone and consists of fine-grained tuffaceous sediments. The mineralised zones unconformably overlie a sequence of strongly foliated and hydrothermally altered quartz-plagioclase dacite. Mineralisation occurs in two main styles: plunging shoots of thicker, high-grade mineralisation within the anticline and syncline axes; and as tabular lenses in fold limbs and shear zones.
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:	Total drilling to the date of this report was 63,334.64 metres comprising of:  117 primary diamond holes for 41,253.43 metres  30 wedged diamond holes for 15,077.51 metres  9 diamond tails to RCP holes for 2,094.50 metres  57 RCP holes for 4,909.20 metres
Data aggregation methods	 In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated.  Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.	 No grade aggregation, weighting, or cut-off methods were used for this announcement.
Relationship between mineralization 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.	The mineralised units are near vertical and drilling has almost exclusively been conducted from the east at perpendicular angles with the mineralised units. The drill angles vary, but is generally at 60 degrees down, resulting in mineralised intersections slightly longer than the true width. Interpretation of the mineralised units honour the true width.
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.	 Maps incorporated into 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 Results.	 The data in this release is all of historic nature.…See Appendix 3 below for more detailed assay results. Further data can be requested and supplied pending the approval by the GRL Board of directors.
Other substantive	 Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk	A Magnetic TMI survey was conducted in 2004 and found magnetic anomalies south east of Lewis Ponds.

Criteria	JORC Code explanation	Commentary
exploration data	samples – size and 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 (eg tests for lateral extensions or depth extensions or large-scale step-out drilling).	 Currently under assessment. Follow-up work is required, as mentioned in body of the announcement.

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Appendix 2. Historic Exploration in the area of EL5583

Title_Ref	Company	Start Date	End Date	Elements
EL0047	AFI HOLDINGS LIMITED	1-Sep-66	1-Sep-67	P Cu Pb Zn
EL0027	ANACONDA AUSTRALIA INC	1-Oct-66	1-Oct-68	Au Ag Cu Mo Pb Zn
EL0099	QUARRIES PTY LIMITED	1-May-67	1-May-68	Phosphate Cu
EL0259	AQUITAINE AUSTRALIA MINERALS PTY LIMITED	1-Mar-70	1-Sep-74	Cu Pb Zn Ni
EL0316	AMAX IRON ORE CORPORATION	7-Aug-70	7-Feb-73	Cu Pb Zn
EL0317	AMAX IRON ORE CORPORATION	7-Aug-70	7-Feb-73	Cu Pb Zn
EL0331	COMMAND MINERALS NL	1-Oct-70	1-Oct-71	Cu Pb Zn
EL0541	WOODSREEF ASBESTOS MINES LIMITED	1-Oct-72	1-Oct-73	Cu Pb Zn
EL0631	UNION CORPORATION (AUSTRALIA) PTY LIMITED	1-Sep-73	1-Sep-74	Cu Zn Au
EL0661	GEOPEKO LIMITED	1-Dec-73	1-Aug-74	Pb Zn Cu
EL0720	GEOPEKO LIMITED	1-Dec-74	1-May-75	Cu Pb Zn
EL0749	AQUITAINE AUSTRALIA MINERALS PTY LIMITED	1-Feb-75	1-Feb-77	Cu Pb Zn
EL0845	LE NICKEL (AUSTRALIA) PTY LIMITED	1-Dec-75	1-Dec-76	Cu Pb Zn
EL1075	AMOCO MINERALS AUSTRALIA COMPANY	1-Jan-77	1-Dec-81	Cu Pb Zn Ag Au
EL1675	TECK EXPLORATIONS LIMITED	1-Jul-81	1-Jul-83	Cu Pb Zn
EL1916	SHELL COMPANY OF AUSTRALIA LIMITED	1-Mar-82	1-Mar-85	Cu Pb Zn Au Ag
EL1912	NORANDA AUSTRALIA LIMITED	1-Jul-82	1-Jul-83	Cu Pb Zn
EL2243	MOUNT ISA MINES LIMITED	1-Jun-84	1-Jun-85	Au
EL2301	PLACER PACIFIC PTY LIMITED	1-Nov-84	1-May-86	Au
EL2302	PLACER PACIFIC PTY LIMITED	1-Nov-84	1-May-86	Au
EL2759	INTERNATIONAL MINING CORPORATION N L	1-Nov-86	1-Jul-89	Au
EL2777	BHP GOLD MINES LIMITED	1-Nov-86	1-Sep-89	Au
EL2731	BATHURST BRICK COMPANY LIMITED	1-Dec-86	1-Dec-87	Dimension Stone Marble
EL2636	ELECTROLYTIC ZINC COMPANY OF AUSTRALASIA LIMITED	1-Dec-86	1-Aug-88	Au
EL2906	NORGOLD LIMITED	1-Aug-87	1-Jan-90	Au Ag
EL2908	NORGOLD LIMITED	1-Aug-87	1-Jan-90	Au Ag
EL2930	BHP MINERALS LIMITED	1-Oct-87	1-Oct-89	Au
EL3149	CYPRUS AMAX AUSTRALIA CORPORATION,NEWCREST MINING LIMITED	18-Aug-88	17-Aug-95	Au Cu
EL3549	HOMESTAKE AUSTRALIA LIMITED	1-Jun-90	1-Aug-90	Au Cu
EL3683	NEWCREST MINING LIMITED	1-Nov-90	1-Nov-91	Cu Au
EL3676	HOMESTAKE AUSTRALIA LIMITED	1-Nov-90	1-May-91	Au
EL3675	HOMESTAKE AUSTRALIA LIMITED	13-Nov-90	22-Nov-91	Ag As Au Bi Cu Mo Pb W Zn
EL3728	CYPRUS AMAX AUSTRALIA CORPORATION,NEWCREST MINING LIMITED	3-Jan-91	2-Jan-95	AgAu Cu Pb Zn
EL4043	CRA EXPLORATION PTY LIMITED	3-Sep-91	2-Sep-95	Au Cu Pb Zn
EL4226	CRA EXPLORATION PTY LIMITED	11-Mar-92	10-Mar-94	Ag Au Cu Pb Zn
EL4271	RIO TINTO EXPLORATION PTY LIMITED	18-May-92	16-Feb-94	Au Cu
EL4588	CRA EXPLORATION PTY LIMITED	14-Sep-93	13-Sep-95	Au Cu Zn
EL4746	CRA EXPLORATION PTY LIMITED	9-Dec-94	8-Dec-96	Au Cu
EL5008	NEWCREST MINING LIMITED	14-May-96	13-May-98	Au Cu
EL5009	NEWCREST MINING LIMITED	14-May-96	13-May-98	Ag Au Cu Pb Zn
EL5030	DELTA GOLD EXPLORATION PTY LTD,TRI ORIGIN AUSTRALIA NL	31-May-96	30-May-98	Ag Au Cu Pb Zn
EL5174	LFB RESOURCES NL	23-Dec-96	22-Dec-98	Au Cu
EL5208	MICHELAGO RESOURCES NL	5-Feb-97	4-Feb-99
EL5249	LFB RESOURCES NL	5-Mar-97	4-Mar-99	Au Cu
EL4234	LFB RESOURCES NL	31-Mar-98	8-Mar-99	Au Cu
EL5531	NORTH MINING LIMITED	20-Oct-98	19-Oct-00
EL5658	ALKANE EXPLORATION LTD	15-Dec-99	28-Feb-01	Au Cu
EL5722	GOLDEN CROSS OPERATIONS PTY. LTD.	5-May-00	10-Mar-05	Au Cu
EL6053	FALCON MINERALS LIMITED	14-Feb-03	13-Feb-05	Au Cu
EL6078	HERRESHOFF HOLDINGS PTY LTD	8-May-03	27-Jun-06	Limestone Marble
EL6181	CLANCY EXPLORATION LIMITED	19-Jan-04	18-Jan-16	Au Cu Zn
EL6180	CLANCY EXPLORATION PTY LTD	19-Jan-04	18-Jan-08	Au Cu
EL6240	COMET RESOURCES LIMITED	17-May-04	16-May-12	Au Ag Cu Pb Zn
EL6425	LADY BURBETT MINING PTY LIMITED	27-May-05	19-Nov-12	Cu Au Pb Zn Mo Ag
EL6460	AUSTRALIAN DOLOMITE COMPANY PTY LIMITED	22-Aug-05	7-Dec-10	Marble
EL6520	AUSTRALIAN DOLOMITE COMPANY PTY LIMITED	21-Feb-06	20-Feb-10	Marble
EL6567	MERIDIAN ACQUISITIONS PTY LTD	25-May-06	1-Nov-13	Cu Au
EL6615	GOLDEN CROSS OPERATIONS PTY. LTD.	23-Aug-06	22-Aug-08	Au Cu
EL6674	GUM RIDGE MINING PTY LIMITED	5-Dec-06	19-Nov-12	Au Cu
EL6968	COMMISSIONERS GOLD LIMITED	26-Nov-07	20-Sep-10	Cu Au Ag Base Metals
EL7060	NEWMONT EXPLORATION PTY LTD	4-Feb-08	25-Sep-12	Au Cu
EL7231	IMPERIAL GOLD 1 PTY LTD	31-Oct-08	19-Nov-12	Cu Au
EL7235	ALKANE RESOURCES LTD	7-Nov-08	14-Aug-13	Au
EL7284	NEWMONT EXPLORATION PTY LTD	5-Feb-09	25-Jan-11	Au
EL7359	NEWMONT EXPLORATION PTY LTD	7-Jul-09	7-Jul-11	Au
EL7383	ALKANE RESOURCES LTD	11-Aug-09	11-Aug-13	Au
EL7399	CLANCY EXPLORATION LIMITED	28-Sep-09	28-Sep-17	Au Cu
EL7466	NEWMONT EXPLORATION PTY LTD	5-Mar-10	14-Dec-10
EL7713	OAKLAND RESOURCES LIMITED	23-Feb-11	21-Jan-13
EL7755	OAKLAND RESOURCES LIMITED	31-May-11	4-Sep-12
EL7788	NEWMONT EXPLORATION PTY LTD	16-Jun-11	4-Jun-14	Au Cu
EL7925	NEWMONT EXPLORATION PTY LTD	2-May-12	2-May-14	Au Cu
EL7971	ALKANE RESOURCES LTD	4-Oct-12	9-Dec-14	Cu Au Base Metals
EL8253	SANDFIRE RESOURCES NL	3-Apr-14	4-Jul-15
EL8350	SANDFIRE RESOURCES NL	12-Mar-15	4-Jul-15	Au
EL6417	AUSMON RESOURCES LTD	17-May-15	16-May-15	Au Cu Ag Sn

Page 11 of 15

==> picture [532 x 84] intentionally omitted <==

Appendix 3. Historic Assay results – Not a complete set – Only lists results mentioned in this release..

(Additional results can be requested from GRL and may be released pending approval from the board of Directors)

Hole_ID	From	To	Au_ppm	Ag_ppm	Zn_pct	Pb_pct	Cu_pct
TLPD-03	162	163	0.15	1	0.09	0.02	0.01
TLPD-03	163	164	0.52	14	2.38	1.61	0.06
TLPD-03	164	165	0.84	18	5.74	1.97	0.11
TLPD-03	165	166	0.2	1	0.13	0.03	0.01
TLPD-03	166	167	0.1	1	0.44	0.21	0.01
TLPD-03	167	168	0.1	2	0.45	0.13	0.01
TLPD-03	168	169	1.15	78	2.37	1.43	0.09
TLPD-03	169	170	1.2	90	2.1	1.81	0.33
TLPD-03	170	171	0.8	57	2.13	1.18	0.07
TLPD-03	171	172	0.38	19	0.81	0.47	0.03
TLPD-03	172	173	0.63	62	4.06	1.11	0.06
TLPD-03	173	174	0.45	58	1.79	1.12	0.07
TLPD-03	174	175	0.92	128	4.72	2.48	0.08
TLPD-03	175	176	0.19	15	0.47	0.26	0.03
TLPD-03	176	177	0.83	43	1.65	1.02	0.04
TLPD-03	177	178	2.32	112	5	2.75	0.1
TLPD-03	178	179	8.12	186	6.76	3.25	0.14
TLPD-03	179	180	0.74	29	1.13	0.59	0.07
TLPD-03	180	181	0.75	20	0.8	0.39	0.06
TLPD-03	181	182	2.52	67	3.39	1.31	0.2
TLPD-03	182	183	1.5	68	3.77	1.7	0.12
TLPD-03	183	184	1.82	83	2.78	1.43	0.15
TLPD-03	184	185	3.26	92	2.1	1.13	0.13
TLPD-03	185	186	0.5	34	0.87	0.51	0.05
TLPD-03	186	187	0.47	25	1.38	0.49	0.11
TLPD-03	187	188	0.37	31	1.16	0.36	0.09
TLPD-03	188	189	0.28	19	1.01	0.34	0.11
TLPD-03	189	190	0.22	8	0.32	0.1	0.06
TLPD-03	190	191	0.2	32	1.98	0.67	0.13
TLPD-03	191	192	0.13	6	0.61	0.17	0.05
TLPD-03	192	193	0.22	9	0.83	0.26	0.05
TLPD-04	178	178.5	0.06	12	0.58	0.2	0.01
TLPD-04	178.5	179	1.5	275	15.5	5.39	0.28
TLPD-04	179	180	1.03	85	6	1.56	0.51
TLPD-04	180	181	0.39	63	2.06	1.41	0.06
TLPD-04	181	182	0.47	40	1.34	0.58	0.05
TLPD-04	182	183	0.95	115	2.13	1.27	0.11
TLPD-04	183	184	0.44	39	0.66	0.68	0.02
TLPD-04	184	185	2.06	74	3.05	1.75	0.2
TLPD-04	185	186	8.6	120	2.44	2.45	0.15
TLPD-04	186	187	10.6	195	4.14	4.03	0.27
TLPD-04	187	188	26.2	265	6.4	4.96	0.49
TLPD-04	188	189	3.64	205	4.62	3.6	0.37
TLPD-04	189	190	2.35	155	1.49	2.54	0.09
TLPD-04	190	191	4.17	195	6.38	4.69	0.84
TLPD-04	191	192	3.28	210	7.2	5.62	1.22
TLPD-04	192	193	1.61	74	2.25	1.13	1.1
TLPD-04	193	194	1.21	69	5.32	1.93	0.08
TLPD-04	194	195	1.36	95	4.56	2.23	0.14
TLPD-04	195	196	2.64	83	3.62	1.85	0.08
TLPD-04	196	197	1.87	130	6.19	2.94	0.09
TLPD-04	197	198	2.43	140	4.76	2.65	0.26
TLPD-04	198	199	1.24	70	4.39	1.64	0.09
TLPD-06A	300	301	9	400	12.4	2.66	1.11
TLPD-06A	301	302	2.17	50	0.84	0.39	0.16
TLPD-06A	302	303	1.01	27	0.83	0.45	0.05
TLPD-06A	303	304	3.98	50	1.83	1.02	0.17
TLPD-06A	304	305	5.24	50	1.83	1.58	0.33
TLPD-06A	305	306	22.8	225	10.9	7.94	1.13
TLPD-06A	306	307	2.7	16	1.19	0.64	0.2
TLPD-06A	307	308	3.56	11	0.22	0.13	0.05
TLPD-06A	308	309	3.15	255	6.92	5.13	0.21
TLPD-06A	309	310	0.58	62	1.52	0.87	0.09
TLPD-06A	310	311	0.34	29	0.7	0.39	0.1
TLPD-06A	311	312	1.84	60	3.28	2.8	0.19
TLPD-06A	312	313	0.55	50	4.22	2.83	0.12
TLPD-06A	313	314	0.49	63	3.22	1.42	0.09
TLPD-06A	314	315	0.8	145	5.49	1.4	0.12
TLPD-06A	315	316	1.79	285	2.66	1.35	0.26
TLPD-06A	316	317	0.24	18	0.66	0.36	0.05
TLPD-06A	317	318	1.26	62	3.05	2.05	0.19
TLPD-06A	318	319	1.35	57	3.77	1.68	0.14

Page 12 of 15

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Hole_ID	From	To	Au_ppm	Ag_ppm	Zn_pct	Pb_pct	Cu_pct
TLPD-06A	319	320	1.84	93	3.75	1.79	0.22
TLPD-12	427	428	0.98	23	0.65	0.63	0.2
TLPD-12	428	429	0.87	6	0.18	0.13	0.07
TLPD-12	429	430	0.87	2	0.06	0.06	0.02
TLPD-12	430	431	4.32	7	0.16	0.08	0.06
TLPD-12	431	432	5.12	2	0.05	0.04	0.02
TLPD-12	432	433	1.25	1	0.02	0.01	0.01
TLPD-12	433	434	2.08	1	0.01	0.01	0.01
TLPD-12	434	435	0.61	2	0.01	0.01	0.01
TLPD-12	435	436	0.4	1	0.01	0.01	0.01
TLPD-12	436	437	0.24	1	0.01	0.01	0.01
TLPD-12	437	438	0.13	1	0.01	0.01	0.01
TLPD-12	438	439	0.14	1	0.06	0.04	0.01
TLPD-12	439	440	0.36	8	0.46	0.3	0.08
TLPD-12	440	441	0.37	7	0.36	0.35	0.08
TLPD-12	441	442	0.45	9	0.44	0.63	0.07
TLPD-12	442	443	0.07	3	0.23	0.32	0.06
TLPD-12	443	444	0.19	2	0.19	0.2	0.06
TLPD-12	444	445	1.5	18	1.66	1.32	0.36
TLPD-12	445	446	0.6	15	1.67	0.92	0.44
TLPD-12	446	447	0.51	11	0.95	0.47	0.18
TLPD-12	447	448	1.58	14	0.78	0.37	0.16
TLPD-12	448	449	1.76	21	0.61	0.53	0.15
TLPD-12	449	450	3.28	55	1.92	1.31	0.41
TLPD-12	450	451	1.56	12	0.18	0.13	0.05
TLPD-12	451	452	8.25	207	4.77	3.76	0.26
TLPD-12	452	453	0.12	2	0.03	0.04	0.01
TLPD-12	453	454	0.54	17	0.58	0.35	0.12
TLPD-12	454	455	0.94	31	1.25	0.9	0.08
TLPD-12	455	456	1.15	48	1.5	1.07	0.07
TLPD-12	456	457	43.4	580	9.51	6.26	0.47
TLPD-12	457	458	27.6	1060	17.1	10	0.43
TLPD-12	458	459	1.03	172	4.79	3.42	0.25
TLPD-12	459	460	1.3	102	4.43	3.35	0.31
TLPD-12	460	461	3.47	133	10.4	7.2	0.37
TLPD-12	461	462	3.76	145	14.1	8.83	0.16
TLPD-12	462	463	1.01	39	1.68	1.45	0.16
TLPD-12	463	464	2.4	149	14.5	8.89	0.29
TLPD-12	464	465	3.09	120	11.1	7.22	0.33
TLPD-12	465	466	1.22	54	4.83	3.02	0.18
TLPD-12	466	467	2.04	161	11.6	6.96	0.14
TLPD-12	467	468	1.84	220	12.2	8.24	0.21
TLPD-12	468	469	3.18	81	4.38	3.08	0.29
TLPD-12	469	470	1.67	217	11.2	6.96	0.35
TLPD-12	470	471	3.9	142	8.14	5.37	0.22
TLPD-12	471	472	1.18	126	8.67	5.08	0.2
TLPD-12	472	473	1.65	98	5.19	3.78	0.11
TLPD-12	473	474	1.53	55	3.71	2.83	0.18
TLPD-12	474	475	0.76	30	1.76	1.27	0.06
TLPD-12	475	476	0.54	28	1.6	1.11	0.05
TLPD-12	476	477	2.04	16	0.72	0.54	0.04
TLPD-12	477	478	3.25	159	13.4	8.86	0.19
TLPD-12	478	479	6.88	165	13.2	8.19	0.39
TLPD-12	479	480	0.81	47	2.44	1.68	0.13
TLPD-12	480	481	3.4	184	14.8	9.41	0.32
TLPD-12	481	482	0.73	26	1.33	0.96	0.07
TLPD-12	482	483	1.87	115	4.64	3.1	0.2
TLPD-12	483	484	0.51	47	1.65	0.75	0.08
TLPD-12	484	485	0.18	9	0.23	0.13	0.02
TLPD-12	485	486	0.74	53	2	1.09	0.1
TLPD-12	486	487	0.25	16	0.56	0.24	0.04
TLPD-12	487	488	0.7	18	0.64	0.24	0.08
TLPD-12	488	489	0.54	14	0.44	0.25	0.02
TLPD-12	489	490	1.6	74	2.21	1.5	0.1
TLPD-12	490	491	1.47	42	1.36	0.63	0.09
TLPD-12	491	492	1.43	135	3.67	2.65	0.09
TLPD-12	492	493	2.06	139	4.26	2.33	0.12
TLPD-12	493	494	1.62	102	2.74	1.78	0.1
TLPD-12	494	495	1.7	87	2.6	1.53	0.11
TLPD-12	495	496	0.41	45	1.07	0.59	0.09
TLPD-12	496	497	0.33	13	0.33	0.15	0.03
TLPD-12	497	498	1.89	210	7.1	5.31	0.18
TLPD-12	498	499	1.54	280	7.3	5.48	0.19
TLPD-12	499	500	7.74	174	3.96	3.06	0.4
TLPD-12	500	501	2.79	132	4.52	2.92	0.49
TLPD-12	501	502	1.81	66	2.37	1.83	0.36
TLPD-12	502	503	0.88	61	2.17	1.66	0.17
TLPD-12	503	504	0.62	20	1.76	1.17	0.07
TLPD-12	504	505	1.98	27	1.11	0.61	0.15
TLPD-12	505	506	1.41	50	1.66	1.16	0.21

Page 13 of 15

==> picture [532 x 84] intentionally omitted <==

Hole_ID	From	To	Au_ppm	Ag_ppm	Zn_pct	Pb_pct	Cu_pct
TLPD-12	506	507	0.43	18	0.83	0.56	0.11
TLPD-12	507	508	0.36	9	0.47	0.29	0.04
TLPD-12	508	509	0.6	13	0.63	0.42	0.06
TLPD-12	509	510	0.73	20	1.51	1.07	0.11
TLPD-12	510	511	0.64	34	2.55	1.9	0.14
TLPD-12	511	512	0.33	14	2.5	2.06	0.05
TLPD-12	512	513	0.49	19	2.81	2.37	0.12
TLPD-12	513	514	0.4	11	1.2	0.82	0.06
TLPD-12	514	515	0.56	19	1.6	1.26	0.08
TLPD-12	515	516	1.9	9	0.09	0.07	0.03
TLPD-12	516	517	1.34	13	0.07	0.06	0.03
TLPD-12	517	518	1.24	232	1.8	1.04	0.22
TLPD-20	365	366	0.36	9	0.39	0.2	0.02
TLPD-20	366	367	0.19	1	0.05	0.05	0.01
TLPD-20	367	368	0.17	23	1.56	0.77	0.03
TLPD-20	368	369	0.2	2	0.59	0.48	0.03
TLPD-20	369	370	0.09	1	0.42	0.4	0.02
TLPD-20	370	371	0.19	10	0.82	0.58	0.04
TLPD-20	371	372	0.35	6	0.89	0.47	0.04
TLPD-20	372	373	0.22	1	0.15	0.1	0.02
TLPD-20	373	374	21.9	290	10.8	8.3	0.52
TLPD-20	374	375	4	186	4.61	4.5	0.36
TLPD-20	375	376	6.62	161	6.12	4.12	0.55
TLPD-09A	253	254	0.88	55	4.66	2.57	0.1
TLPD-09A	254	255	0.31	5	4.04	0.04	0.07
TLPD-09A	255	256	0.32	7	2.28	0.29	0.08
TLPD-09A	256	257	0.23	8	0.73	0.59	0.05
TLPD-09A	257	258	0.22	5	0.18	0.11	0.07
TLPD-09A	258	259	0.23	6	0.08	0.08	0.03
TLPD-09A	259	260	0.5	9	0.13	0.11	0.04
TLPD-09A	260	261	0.18	10	0.05	0.09	0.02
TLPD-09A	261	262	0.21	1	0.01	0.01	0.01
TLPD-09A	262	263	0.12	2	0.12	0.07	0.02
TLPD-09A	263	264	0.26	3	0.07	0.04	0.02
TLPD-09A	264	265	1.1	26	0.44	0.33	0.08
TLPD-09A	265	266	2.36	19	0.58	0.39	0.08
TLPD-09A	266	267	0.39	12	0.67	0.43	0.04
TLPD-09A	267	268	0.23	6	0.46	0.27	0.04
TLPD-09A	268	269	0.42	17	1.28	1.04	0.05
TLPD-09A	269	270	0.64	20	1.73	1.13	0.1
TLPD-09A	270	271	1.37	28	1.19	0.88	0.06
TLPD-09A	271	272	15.3	43	0.74	0.53	0.1
TLPD-09A	272	273	3.12	17	0.47	0.27	0.02
TLPD-09A	273	274	0.71	24	1.77	0.62	0.07
TLPD-21W	409	410	0.84	6	0.01	0.01	0.01
TLPD-21W	410	411	0.36	23	0.34	0.24	0.02
TLPD-21W	411	412	5.45	302	4.45	3.37	0.16
TLPD-21W	412	413	0.18	12	0.08	0.05	0.01
TLPD-21W	413	414	0.15	28	0.2	0.13	0.04
TLPD-21W	414	415	0.33	24	0.15	0.1	0.03
TLPD-21W	415	416	0.09	6	0.04	0.02	0.01
TLPD-21W	416	417	0.04	5	0.09	0.05	0.01
TLPD-21W	417	418	0.03	5	0.06	0.03	0.01
TLPD-21W	418	419	0.04	4	0.02	0.02	0.01
TLPD-21W	419	420	0.07	10	0.42	0.24	0.01
TLPD-21W	420	421	0.02	5	0.04	0.01	0.01
TLPD-21W	421	422	0.04	11	0.12	0.04	0.02
TLPD-21W	422	423	0.16	19	0.07	0.04	0.02
TLPD-21W	423	424	0.17	23	0.11	0.11	0.05
TLPD-21W	424	425	0.07	9	0.06	0.05	0.01
TLPD-21W	425	426	0.1	25	0.05	0.06	0.02
TLPD-21W	426	427	0.06	28	0.19	0.12	0.06
TLPD-21W	427	428	0.03	8	0.02	0.01	0.01
TLPD-21W	428	429	1.43	24	0.21	0.15	0.07
TLPD-21W	429	430	20.9	220	0.96	0.63	0.03
TLPD-21W	430	431	0.64	135	0.31	0.26	0.03
TLPD-21W	431	432	0.69	25	0.2	0.14	0.03
TLPD-21W	432	433	0.28	17	0.18	0.12	0.01
TLPD-21W	433	434	2.44	59	1.05	0.54	0.1
TLPD-21W	434	435	1.27	107	1.99	1.11	0.16
TLPD-21W	435	436	2.07	206	5.2	3.36	0.36
TLPD-21W	436	437	4.67	154	5.87	3.76	0.44
TLPD-21W	437	438	0.27	25	2.25	1.86	0.15
TLPD-21W	438	439	2.26	53	6.44	4.7	0.53
TLPD-21W	439	440	2.91	163	6.3	4.16	0.27
TLPD-21W	440	441	1.05	41	5.61	3.42	0.29
TLPD-21W	441	442	1.78	67	4.83	2.7	0.33
TLPD-21W	442	443	1.09	40	1.47	0.65	0.08
TLPD-21W	443	444	2.38	122	2.83	1.39	0.24
TLPD-21W	444	445	2.87	420	6.74	5.14	0.28

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==> picture [532 x 84] intentionally omitted <==

Hole_ID	From	To	Au_ppm	Ag_ppm	Zn_pct	Pb_pct	Cu_pct
TLPD-21W	445	446	0.66	167	5.21	2.05	0.22
TLPD-21W	446	447	0.7	82	2.33	1.58	0.16
TLPD-21W	447	448	0.87	49	1.65	0.51	0.21
TLPD-21W	448	449	0.65	42	1.11	0.61	0.06
TLPD-21W	449	450	1.39	81	1.9	1.03	0.12
TLPD-21W	450	451	0.51	27	0.92	0.37	0.07
TLPD-21W	451	452	0.52	21	0.65	0.32	0.04
TLPD-21W	452	453	0.13	8	0.18	0.1	0.01
TLPD-21W	453	454	0.79	17	1.18	0.43	0.1

Page 15 of 15