GOLDARC RESOURCES LIMITED — Capital/Financing Update 2017

Jun 6, 2017

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ASX RELEASE

7 JUNE 2017

DRILLING TO COMMENCE AT PARADIGM EAST

1. HIGHLIGHTS

• Preparations underway for an RC drilling program at Paradigm East;

• Paradigm East is located at the northern end of Torian’s Zuleika Project;

• Paradigm East is adjacent to Northern Star’s Paradigm Mine and recent discoveries;

• Northern Star’s recent drilling at Paradigm includes intersections such as:

• 107.5m @ 3.1g/t Au including 10.1m @ 28.8g/t Au

• 197.5m @ 2.4g/t Au including 10.1 @ 17.7g/t Au

• 3.2m @ 207.00g/t Au from 189m

• 5.2m @ 156.00g/t Au from 92m

• 10m @ 54.30g/t Au from 165m

• 15m @ 15.20g/t Au from 72m

• Historic results on Torian’s tenure east of Paradigm include:

• 4m @ 16.11g/t Au from 42m; including

• 2m @ 30.90g/t Au from 42m.

• Torian to commence drilling at Paradigm East imminently.

Torian Resources Ltd ( ASX:TNR ) ( Torian or Company ) is pleased to announce that preparations for its next drilling program at Paradigm East are underway. Torian’s Paradigm East target is located towards the northern end of the Company’s 100% owned Zuleika Project. The program is designed to test highgrade historic intersections that are adjacent to Northern Star’s Paradigm mine and their significant recent discoveries.

Paradigm East is located approximately 65km North West of Kalgoorlie and is a high priority target for the Company. It has been brought to prominence recently by our neighbours, Northern Star Resources Ltd (ASX:NST) , who have recently announced a number of significant gold discoveries proximal to the Paradigm historic open pit. Some of their recent intersection include:

• 107.5m @ 3.1g/t Au including 10.1m @ 28.8g/t Au

• 197.5m @ 2.4g/t Au including 18.0m @ 17.7g/t Au

• 3.2m @ 207.0g/t Au from 189m

• 5.2m @ 156.0g/t Au from 92m

• 10m @ 54.3g/t Au from 165m

• 15m @ 15.20g/t Au from 72m

ABN: 72 002 261 565 Ground Floor, 104 Colin St, West Perth, 6004 Australia Phone +61 8 6216 0424 Fax +61 8 9322 4130

info@torianresources.com.au www.torianresources.com.au

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• 14m @ 14.8g/t Au from 98m

• 16m @ 18.6g/t Au from 254m

• 18m @ 17.7g/t Au from 65m

Torian’s geological interpretation suggest that some of the geological structures, defined by our neighbours, extend into Torian’s ground. This is also confirmed by the historical results, detailed above, that show high grade mineralisation on Torian’s tenure to the East of Paradigm.

As seen in Figure 1 below, Torian’s tenure surrounds Northern Star’s Paradigm mine on three boundaries.

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Figure 1: Torian’s Tenure (blue) surrounding Northern Stars recent Paradigm discoveries.

Figure 2 below shows the Torian’s geological interpretation of the Paradigm area. This interpretation is based on a number of data sets including magnetics, gravity and direct geological observations sourced from publically available reports including company reports completed by the geological survey of WA and the CSIRO as well as Torian’s proprietary data.

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Figure 2: Map showing Torian’s Paradigm tenements and regional geology.

Torian’s geological interpretation suggests that some of the structures that are associated with Northern Star’s Paradigm mine and significant recent discoveries run into Torian Tenure to the North, East and South as illustrated in Figure 2 above.

2. ZULEIKA PROJECT

2.1 Background

The Zuleika project consists of 125 tenements covering approximately 223km[2] north, and is partly along strike, of several major gold deposits including the 7 million ounce Kundana operation. The Zuleika Project is located 40km northwest of Kalgoorlie and is accessed by well-maintained bitumen and all weather gravel roads. Following Torian’s recent acquisition of Cascade Resources Ltd, Zuleika is now 100% owned by the Company.

The southern boundary of the Project lies some 8km north west of the Kundana Gold Mine where in excess of 7 million ounces of gold has been discovered at an average grade of approximately 10 g/t Au. This region has experienced unprecedented exploration and corporate activity of late, led by Northern Star Resources and Evolution Mining, two of Australia’s largest ASX listed gold miners. Additionally, Zijin, China’s largest gold producer, is extremely active with mining operations in this region, two of which immediately adjoin Torian’s tenure.

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Figure 3: Map showing Torian’s Zuleika Project, the Paradigm discovery (Red) and other major gold miners.

2.2 Regional Geology

The Zuleika Project is located in the central part of the Archaean Norseman-Wiluna greenstone belt in Western Australia. The greenstone belt is approximately 600 kilometres in length, and is characterised by thick sequences of ultramafic, mafic, and felsic volcanics, as well as various intrusives and sedimentary rocks. Generally, the mafic and ultramafic units occur at the base of the sequence, overlain by the felsic volcanic to volcaniclastic rocks.

Research by the Geological Survey of Western Australia indicates that coarse grained sandstones and conglomerates unconformably overlie, or are in fault contact with, greenstones in synclinal basins adjacent to or overlying major regional faults.

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Figure 4: Cross section showing regional faults associated with NST’s Paradigm and Carbine.

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2.3 Mineralisation

Gold mineralisation along the Zuleika Shear occurs in all rock types, although historical and recent production is dominated by two predominant styles:

• Laminated quartz veins containing high grade gold (5-30g/t Au) and associated base metal sulphides (galena, sphalerite, and chalcopyrite) and other minerals such as scheelite). Examples of this are the high grade deposits at Kundana; and

• Quartz vein stockworks developed within granophyric gabbro within the Powder Sill and other intrusives. An example is the very high grade Raleigh Deposit (5-100g/t Au).

Mineralisation styles vary slightly from mine to mine along the Zuleika Shear indicating localised differences due to various rocks and associated minerals. Historically the previous mines have been of a medium to high grade (3-30g/t Au) and occur in clusters, for example the Hornet / Rubicon / Pegasus / Drake / Centenary / North Pit strike line at Kundana which has produced more than 5 million ounces to date.

As previously announced, Torian has developed an extensive digital database of historic and current drill results in the region. The digital data compilation remains incomplete at present, however work continues.

3. PARADIGM EAST

Torian’s Paradigm East target lies approximately 2km east of Northern Star Resources Ltd’s Paradigm Prospect. The local geology at Paradigm East is concealed by a 5-20m thick blanket of alluvium and soil. This is likely to have masked the response from previous soil sampling. This target is associated with a sheared gabbro/epiclastic sedimentary contact that strikes approximately east-west.

Previous exploration in this area was completed between 2000 and 2016 and consisted of auger soil sampling, followed up by vertical RAB drilling on a 200m by 40m pattern. Several +1g/t Au intersections were located in these historic holes. More recent follow up drilling has consisted of angled RC drilling and a single diamond drill hole. Most of these holes were angled towards the south, but some were angled towards 025[O] magnetic.

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Figure 5: Plan view of the NST’s Paradigm Mine, Torian’s tenure (Blue) and recent gold discoveries.

Torian has recently received the data from this drilling as it became available from the Western Australian Geological Survey. Examination of this data indicates that the previous drilling was successful in identifying a saprolite gold target with the best intersection being 4m @ 16.11g/t Au from 42m in hole DQRC004. Field inspection of this hole shows this mineralisation is hosted in a quartz veined highly sheared and weathered felsic rock. Several other intervals in this hole contained 0.55g/t Au values, with other historic holes ending in mineralisation. Figure 6 below shows historic drilling at Paradigm East.

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Figure 6: Map showing historic drilling at Torian’s Paradigm East Prospect.

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As seen in Figure 7 below, Torian has marked out the proposed drill holes at Paradigm East. RC drilling at expected to commence shortly.

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Figure 7: Picture showing pegs marking out the proposed holes.

Table 1 below lists all the holes drilled to date and highlights the anomalous (+1g/t Au) values from historic drilling at Paradigm East. Several other holes intersected values between 0.5 and 5g/t Au. Many holes ended in mineralisation.

The Paradigm area contains a small open pit and underground operation that was active before 2000. Torian’s Zuleika Project has possible strike extensions of approximately 1km south and up to 4.5km north of Paradigm. There is no drilling known in the northern zone and very wide spaced drilling in the south.

This wide spaced drilling has outlined several anomalous zones in the 0.5-1g/t Au range, with a best hole from historic drilling being SGRC005 which intersected 1m @ 2.75g/t Au from 38m (5792mE, 16355mN, 411mRL, the hole was drilled to 150m at minus 60 degrees towards 225 degrees magnetic).

4. INTERPRETATION

Based upon the assays received to date, Torian’s preliminary interpretations are:

• Carbine-Paradigm is bigger than Northern Star first thought;

• Torian’s tenure surrounds has Northern Star’s recent discoveries at Paradigm on three sides;

• Paradigm’s mineralisation appears to be heading north, south and east into Torian’s ground;

• High grade mineralisation has also been discovered on Torian’s ground east of Paradigm; and

• The new Drago discovery is very close to Torian’s boundary.

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Geological interpretation is showing the rocks in this area to be more complex than previously understood. This added complexity is encouraging and suggests potential for additional mineralisation styles to be present away from the main structures.

5. NEXT STEPS

Over the next few months Torian plans the following work:

• Complete the RC drilling program at Paradigm East;

• Carry out further interpretation of current and historical drilling;

• Plan the next reconnaissance RAB drilling program for Paradigm; and

• Plan additional RC drilling to determine the extent of the mineralisation.

6. COMMENTARY

Matthew Sullivan, Torian’s MD comments:

“The historic results at Paradigm East demonstrate that mineralisation associated with the Paradigm mine and recent discoveries continues onto Torian’s ground.

It would appear that some of the structures that are associated with Northern Star’s Paradigm mine and recent discoveries also extend to the north and South of the pit and into Torian’s ground. This will require further exploration over coming months.

This is a very exciting target for Torian and we look forward to seeing receiving the results.

Torian’s technical team has more than 30 years technical experience working in this region. This provides a unique insight into what makes a discovery in this part of the Goldfields Region.”

For further information, please contact:

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Matthew Sullivan Managing Director

(08) 6216 0424 info@torianresources.com.au

About Torian:

Torian Resources Ltd ( ASX:TNR ) is a highly active gold exploration and development company. Following the acquisition of Cascade Resources, the Company will have a large and strategic landholding comprising eight projects and over 500km² located in the Goldfields Region of Western Australia.

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Torian’s flagship project, Zuleika, is located along the world class Zuleika Shear. The Zuleika Shear is the fourth largest gold producing region in Australia and consistently produces some of the country’s highest grade and lowest cost gold mines. Torian’s Zuleika project lies north and partly along strike of several major gold deposits including Northern Star’s (ASX:NST) 7.0Moz East Kundana Joint Venture and Evolutions (ASX:EVN) 1.8Moz Frogs Legs and White Foil deposits.

The Zuleika Shear has seen significant corporate activity of late with over A$1 Billion worth of acquisition in the region by major mining companies. Since May 2015, Torian has increased its landholding by approximately 86% along the Zuleika Shear via eight separate acquisitions. The total land position at the Zuleika project is now approximately 223km² making Torian the second largest landholder in this highly sought after region.

Torian’s exploration team has an enviable track record of exploration success which includes the discovery of some of Australia’s largest gold mines. Last year Torian drilled 59,345m for a total of 1,319 holes across its projects. The large drilling campaign tested 26 exploration targets and, importantly, made four gold discoveries. This makes Torian one of the most active gold explorers on the ASX.

2017 is set to be another big year for the company. Torian’s exploration plans will focus on determining the size of these discoveries and will also test a number of other high priority targets. As one of the ASX’s most active gold explorers we offer new shareholders significant leverage to exploration success. We look forward to keeping you informed in what we believe will be another exciting year for our company.

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Historic Drilling Details:

Hole	E	N	RL	Depth	Dip	Mag Az	Drill type	From	To	m	Au
DQDD001	5728	18706	415	147	-61	180	DD	77	79	2	1.69
							and	82	83	1	1.20
							and	92	93	1	4.97
DQRC001	5773	18481	414	120	-60	180	RC	NSI
DQRC002	5802	18501	415	120	-60	180	RC	NSI
DQRC003	5822	18528	415	48	-60	180	RC	NSI
DQRC004	5739	18669	417	120	-60	180	RC	33	34	1	1.04
							and	35	38	3	1.07
							and	42	46	4	16.11
							including	42	44	2	30.90
							and	48	49	1	4.35
							and	56	57	1	1.13
DQRC005	5761	18704	416	150	-60	180	RC	119	120	1	2.30
								125	126	1	1.87
DQRC006	5786	18732	417	168	-60	180	RC	NSI
DQRC007	5740	18563	415	102	-60	180	RC	NSI
DQRC008	5768	18589	416	102	-60	180	RC	NSI
DQRC009	5799	18624	416	114	-60	180	RC	58	59	1	1.14
DQRC010	5818	18638	416	102	-60	180	RC	95	96	1	1.46
CERB0072	5722	18656	415	62	-90	0	RAB	48	52	4	1.06
CERB0073	5776	18714	415	43	-90	0	RAB	NSI
CERB0075	5784	18488	415	54	-90	0	RAB	36	44	8	1.93
DQRC15001	5627	18701	418	150	-60	25	RC	NSI
DQRC15002	5671	18719	419	100	-60	25	RC	NSI
DQRC15003	5718	18736	418	60	-60	25	RC	NSI
DQRC15004	5671	18583	418	150	-60	25	RC	NSI
DQRC15005	5724	18602	418	102	-60	25	RC	44	45	1	1.66
DQRC15006	5765	18622	418	72	-60	25	RC	NSI
DQRC15007	5720	18468	417	150	-60	25	RC	NSI
DQRC15008	5767	18486	416	100	-60	25	RC	75	76	1	1.99
DQRC15009	5813	18505	416	66	-60	25	RC	NSI

Table 1: Paradigm East drill collar details and results.

Note: NSI means no significant intersection (+1g/t Au).

Information in this report pertaining to mineral resources and exploration results was compiled by Mr MP Sullivan who is a member of AusIMM Mr Sullivan is the chief geologist of Jemda Pty Ltd, geological consultants to the company. Mr Sullivan has sufficient experience which is relevant to the style of mineralisation and the type of deposit that is under consideration and to the activity that he is undertaking 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 Sullivan consents to the inclusion in the report of the matters based on his information in the form and context in which is appears.

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Appendix Zuleika Project

JORC Code, 2012 Edition – Table 1

Section 1 Sampling Techniques and Data

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

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
Sampling		Nature and quality of sampling (eg cut channels, random chips, or specific		Data and results referred to in this report date from about 2001 to the present day.
techniques		specialised industry standard measurement tools appropriate to the minerals under		The historic data has been judged to be reliable following independent research,
		investigation, such as down hole gamma sondes, or handheld XRF instruments, etc).		including discussions with some previous operators, explorers in person, and a site
		These examples should not be taken as limiting the broad meaning of sampling.		visit.
		Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.		Samples were collected via Rotary Air Blast (RAB) and Reverse Circulation (RC) drill
		Aspects of the determination of mineralisation that are Material to the Public		chips and a single diamond drill hole which yielded core.
		Report.		All drilling yielded samples on a metre basis. RAB and RC drilling samples were
		In cases where ‘industry standard’ work has been done this would be relatively		commonly composited into intervals of 4 or 5m, with selected individual or 2m
		simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3		resamples collected, from which approx. 2-3 kg is pulverised to produce a 50 g
		kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.		charge for fire assay. The diamond core was not composited but sawn in half with half submitted for assay identically to the other samples. Sample preparation method is total material dried and pulverized to nominally 85%
				passing 75 µm particle size. Gold analysis method is generally by 50g Fire Assay,
				with Atomic Absorption Spectrometry (AAS) finish (DL 0.01 – UL 50 ppm Au) for the
				samples. Diamond core was initially crushed where required. Analysis of RAB
				samples is generally by Aqua Regia digest, followed by an AAS finish. Samples
				exceeding the upper limit of the method were automatically re-assayed utilizing a
				high grade gravimetric method.
Drilling		Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger,		RAB holes were typically 100mm in diameter, whilst RC holes were typically 125mm
techniques		Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of		and the diamond drilling typically NQ (47.5mm) or HQ (63.5mm) diameter.
		diamond tails, face-sampling bit or other type, whether core is oriented and if so, by
		_what method, etc). _
Drill sample		Method of recording and assessing core and chip sample recoveries and results		Recoveries were logged onto paper logs during drilling. Recoveries were visually
recovery		assessed.		assessed.
		Measures taken to maximise sample recovery and ensure representative nature of		Sample recoveries were maximised in RAB and RC drilling via collecting the samples
		the samples.		in a cyclone prior to sub sampling. RAB drillholes were stopped if significant water
		Whether a relationship exists between sample recovery and grade and whether		flows were encountered. Sample recoveries in diamond drilling were maximised by
		sample bias may have occurred due topreferential loss/gain of fine/coarse material.		the use of various drillingmuds and control of thepenetration rates and injection of

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Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
				the drilling muds.
				No relationship appears from the data between sample recovery and grade of the
				samples.
Logging		Whether core and chip samples have been geologically and geotechnically logged to		All drillholes were geologically logged. This logging appears to be of high quality and
		a level of detail to support appropriate Mineral Resource estimation, mining studies		suitable for use in further studies.
		and metallurgical studies.		Logging is qualitative in nature.
		Whether logging is qualitative or quantitative in nature. Core (or costean, channel,		All samples / intersections are logged. 100% of relevant length intersections are
		etc) photography.		logged.
		The total length andpercentage of the relevant intersections logged.
Sub-sampling		If core, whether cut or sawn and whether quarter, half or all core taken.		Non-core drill chip sample material is riffle split, where sample is dry. In case of wet
techniques and		If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet		sample a representative ‘grab’ sample method is utilized. Diamond core was sawn
sample		or dry.		in half with half core submitted for assay.
preparation		For all sample types, the nature, quality and appropriateness of the sample		The sample preparation technique is total material dried and pulverized to
		preparation technique.		nominally 85% passing 75 µm particle size, from which a 50g charge was
		Quality control procedures adopted for all sub-sampling stages to maximise		representatively riffle split off, for assay. In the case of diamond core the samples
		representivity of samples.		were crushed as a prior sample preparation step.
		Measures taken to ensure that the sampling is representative of the in situ material		Standard check (known value) sample were commonly used in all historic drilling
		collected, including for instance results for field duplicate/second-half sampling.		and were used in all the most recent (2016) drilling. Where used the known values
		Whether sample sizes are appropriate to the grain size of the material being		correspond closely with the expected values. A duplicate (same sample duplicated)
		sampled.		were commonly inserted for every 20 or 30 samples taken.
				The sample size is industry standard and appears suitable for the current
				programme.
Quality of assay		The nature, quality and appropriateness of the assaying and laboratory procedures		Various independent laboratories have assayed samples from the project over the
data and		used and whether the technique is considered partial or total.		years. In general they were internationally accredited for QAQC in mineral analysis.
laboratory tests		For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters		No geophysical tools have been used to date.
		used in determining the analysis including instrument make and model, reading		The laboratories inserted blank and check samples for each batch of samples
		times, calibrations factors applied and their derivation, etc.		analysed and reports these accordingly with all results.
		Nature of quality control procedures adopted (eg standards, blanks, duplicates,
		external laboratory checks) and whether acceptable levels of accuracy (ie lack of
		bias) andprecision have been established.
Verification of		The verification of significant intersections by either independent or alternative		Selected significant intersections were resampled from original remnant sample
sampling and		company personnel.		material and analysed again.
assaying		The use of twinned holes.		No twinned holes have been used to date.
		Documentation of primary data, data entry procedures, data verification, data		Documentation of primary data is field log sheets (hand written). Primary data is
		storage (physical and electronic) protocols.		entered into application specific data base. The data base is subjected to data
		Discuss any adjustment to assay data.		verification program, erroneous data is corrected. Data storage is retention of
				physical logsheet,two electronic backupstorage devices andprimaryelectronic

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Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
				database.
Location of data		Accuracy and quality of surveys used to locate drill holes (collar and down-hole		Survey control used is hand held GPS. Down hole surveys were completed to date in
points		surveys), trenches, mine workings and other locations used in Mineral Resource		the RC and diamond holes only. As these areas contain drillholes to no more than
		estimation.		100m significant deviations in the RAB holes are not expected.
		Specification of the grid system used.		Grid systems are various local grid coordinates.
		Quality and adequacy of topographic control.		Topographic control is accurate to +/- 0.5 m.
Data spacing		Data spacing for reporting of Exploration Results.		The drill spacing is variable but generally no greater than 400m by 40m, with some
and distribution		Whether the data spacing and distribution is sufficient to establish the degree of		areas infilled to 200m by 40m.
		geological and grade continuity appropriate for the Mineral Resource and Ore		The areas do not have drilling density sufficient for JORC Inferred category. Further
		Reserve estimation procedure(s) and classifications applied.		infill will be required.
		Whether sample compositing has been applied.		Apart from the reconnaissance RAB drilling,no sample compositinghas been used.
Orientation of		Whether the orientation of sampling achieves unbiased sampling of possible		Apart from some historic vertical reconnaissance RAB drilling, the orientation of the
data in relation		structures and the extent to which this is known, considering the deposit type.		drilling is approximately at right angles to the known mineralisation and so gives a
to geological		If the relationship between the drilling orientation and the orientation of key		fair representation of the mineralisation intersected.
structure		mineralised structures is considered to have introduced a sampling bias, this should		No sampling bias is believed to occur due to the orientation of the drilling.
		be assessed and reported if material.
Sample security		The measures taken to ensure sample security.		Samples were delivered to the laboratory in batches at regular intervals. These are
				temporarilystored in a secure facilityafter drillingand before delivery
Audits or reviews		The results of any audits or reviews of sampling techniques and data.		The company engages independent consultants who regularly audit the data for
				inconsistencies and other issues. None have been reported to date.

Section 2 Reporting of Exploration Results

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

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
Mineral		Type, reference name/number, location and ownership including agreements or		Zukleika JV project is contained within a large number of tenements. Generally,
tenement and		material issues with third parties such as joint ventures, partnerships, overriding		these are Prospecting Licences, but some Mining Leases are part of the tenement
land tenure status		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		package. The tenement details have been previously announced to the market. The company is earning a 49% interest in the Joint Venture.
		impediments to obtaining a licence to operate in the area.
Exploration done		Acknowledgment and appraisal of exploration by other parties.		All work relating to previous exploration contained within this report was completed
by other parties				by other parties. These companies were Placer Dome from 2000-2008, Barrick 2008
				till 2014,and Northern Star Resources 2014 till 2016..
Geology		Deposit type, geological setting and style of mineralisation.		Details of the geology are found elsewhere in this report.

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Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
Drill hole		A summary of all information material to the understanding of the exploration		Details of the drilling, etc are found within the various tables and diagrams
Information		results including a tabulation of the following information for all Material drill holes:		elsewhere in this report.
		o easting and northing of the drill hole collar		No material information, results or data have been excluded.
		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		In reporting Exploration Results, weighting averaging techniques, maximum and/or		Weighted averages were calculated by a simple weighting of from and to distances
aggregation		minimum grade truncations (eg cutting of high grades) and cut-off grades are		down each hole. Most samples are 4 or 5 metre samples, with a limited number of
methods		usually Material and should be stated.		shorter intervals, such as at the end of a hole, etc. No top cuts were applied. Lower
		Where aggregate intercepts incorporate short lengths of high grade results and		cut-offs used were 0.5g/t Au.
		longer lengths of low grade results, the procedure used for such aggregation should		No aggregations of higher grade mineralisation have been used.
		be stated and some typical examples of such aggregations should be shown in detail.
		The assumptions used for any reporting of metal equivalent values should be clearly
		stated.		No metal equivalent values are used
Relationship		These relationships are particularly important in the reporting of Exploration Results.		Details of geology, and selected cross sections are given elsewhere in this report
between mineralisation		If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.		The tables above show drill widths not true widths.
widths and		If it is not known and only the down hole lengths are reported, there should be a
intercept lengths		clear statement to this effect (eg ‘down hole length, true width not known’).
Diagrams		Appropriate maps and sections (with scales) and tabulations of intercepts should be		Details of geology, and selected cross sections are given elsewhere in this report.
		included for any significant discovery being reported These should include, but not be
		limited to aplan view of drill hole collar locations and appropriate sectional views.
Balanced		Where comprehensive reporting of all Exploration Results is not practicable,		Details of the results, drilling, etc are reported elsewhere in this report.
reporting		representative reporting of both low and high grades and/or widths should be
		practiced to avoid misleading reporting of Exploration Results.
Other		Other exploration data, if meaningful and material, should be reported including		Details of geology, and selected cross sections are given elsewhere in this report.
substantive		(but not limited to): geological observations; geophysical survey results; geochemical
exploration data		survey results; bulk 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		Proposed work included drilling of selected twin holes followed by infill and step out

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Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
		extensions or large-scale step-out drilling).		RC drilling across all targets. The aim of such work is to increase confidence in the
		Diagrams clearly highlighting the areas of possible extensions, including the main		data and also to test for extensions to the known resources. Budgets are being
		geological interpretations and future drilling areas, provided this information is not		prepared for this work at present.
		commercially sensitive.		In addition a significant number of additional prospects are known to exist within
				the projects as defined by previous RAB and RC drilling intersections. These will
				form the second phase of exploration.
				Various maps and diagrams are presented elsewhere in this report to highlight
				possible extensions and new targets.

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