GREAT BOULDER RESOURCES LIMITED - Capital/Financing Update 2018

Strong assays confirm Mt Venn is a major WA copper-nickel-cobalt discovery

Infill drilling and metallurgical test work to start in the coming weeks as part of an accelerated development strategy

Latest assays confirm extensive copper-nickel-cobalt mineralisation extending from near-surface in the Central zone at Mt Venn
Mineralogy is now well understood allowing for metallurgical testwork to commence, targeting copper sulphide concentrate, plus cobalt and nickel sulphate production
Assays also confirm the presence of multiple, parallel mineralised lenses within the Central zone that remain open in all directions. Significant results include:

Hole ID	From	To	Interval	Cu		Ni		Co	Mineralisation
	m	m	m	%		%		%	Zone
17MVDD001	76.0	109.0	33.0		0.5		0.1	0.05	Mixed
-including	90.0	100.4	10.4		0.7		0.1	0.05	Mixed
-including	102.8	109.0	6.2		0.6		0.2	0.07	Mixed
17MVDD003	97.3	109.7	12.4		0.7		0.0	0.02	Copper
-including	97.3	98.6	1.3		2.1		0.0	0.02	Copper
-including	100.9	102.0	1.1		1.2		0.0	0.01	Copper
-including	107.3	109.7	2.4		0.9		0.1	0.02	Copper
	123.0	133.0	10.0		0.7		0.0	0.02	Copper
-including	123.0	125.0	2.0		1.0		0.1	0.03	Copper
-including	128.9	131.2	2.3		1.2		0.1	0.02	Copper
	138.0	142.4	4.4		1.7		0.0	0.01	Copper
-including	139.0	141.5	2.5		2.2		0.0	0.01	Copper
17MVRC021	25	33	8		0.3		0.3	0.09	Nickel-Cobalt
-including	25	26	1		1.3		0.2	0.06	Copper
-including	26	28	2		0.2		0.3	0.11	Nickel-Cobalt
	153	173	20		0.6		0.1	0.04	Mixed
-including	153	159	6		1.1		0.1	0.04	Copper
17MVRC022	52	58	6		0.7		0.1	0.03	Copper
	58	78	20		0.4		0.2	0.06	Mixed
	92	110	18		0.7		0.2	0.05	Mixed
-including	99	100	1		2.3		0.1	0.02	Copper
-including	103	104	1		1.7		0.1	0.03	Copper
-including	109	110	1		1.3		0.1	0.04	Copper
17MVRC028	129	151	22		0.5		0.2	0.05	Mixed
-including	129	130	1		1.0		0.0	0.01	Copper
-including	132	135	3		0.2		0.2	0.07	Nickel-Cobalt
-including	137	143	6		0.9		0.1	0.04	Copper
-including	144	148	4		0.3		0.2	0.06	Nickel-Cobalt

Note: Assay results from metallurgical hole 17MVDD002 are still pending

ASX Announcement

5 February, 2017

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Great Boulder Resources (ASX: GBR) is pleased to announce the latest assays from its Mt Venn copper-nickel-cobalt project in WA have confirmed the project is a significant discovery which remains open in all directions.

The assays, which come from the RC and diamond drilling programs completed late last year, confirm extensive mineralisation within the Central zone at Mt Venn. They also confirm the presence of multiple, steeply dipping lenses over a 500m x 200m area, increasing the contained metal per vertical metre and development potential of the Central zone.

In light of these results, infill drilling has been brought forward to better define these multiple mineralised lenses, with a 2,500m RC drilling program scheduled to start in two weeks.

Given the combined strong copper-nickel-cobalt results, metallurgical testwork will commence next week following receipt of assays from hole 17MVDD002. The core is currently stored in a freezer to inhibit the oxidation of pyrrhotite prior to flotation and leach test work. Metal recovery and the production of copper concentrate and nickel and cobalt sulphate will be assed and then used to help target future exploration at Mt Venn.

A Downhole EM (DHEM) survey will commence next week on all available holes from the December drilling program. The results will be used to define extensional targets at the margin of the Central zone and further along the western magnetic trend north and south of the Central zone.

Importantly, mapping and surface sampling over the Eastern Mafic complex has identified a suite of mafic-ultramafic rocks that may represent a different intrusion phase to Mt Venn and is considered a target for nickel sulphide mineralisation.

A gravity survey is scheduled to commence in the next two weeks, covering the Mt Venn intrusion and the Eastern Mafic complex. The gravity survey will provide better definition of the size and geometry of the Mt Venn and Eastern Mafic complex and also help identify different intrusions within each complex.

Results from the gravity survey will be used in conjunction with the magnetics and field mapping/surface sampling to generate additional massive sulphide targets.

Great Boulder Managing Director Stefan Murphy said the assays confirmed Mt Venn was a substantial discovery with huge growth potential.

“It is only four months since we drilled our first hole at Mt Venn and it is already clear that we have a project of substantial size and potential,” Mr Murphy said.

“The significant widths and combined grades contained in these assays, the extensive area over which we have delineated mineralisation and the fact it remains open gives us every reason to be extremely confident about the future of Mt Venn.

“The outlook is particularly favourable in light of the cobalt and high-grade copper we are seeing and the huge scope to grow the known mineralisation.

“In light of these positive results, we are accelerating the infill drilling program. The drilling will focus on the Central zone where the majority of mineralisation has been defined, with the aim of establishing a maiden resource as soon as possible.

“We will shortly commence metallurgical test work, assessing conventional sulphide flotation for a copper concentrate and an additional leach process for the pyrrhotite to ultimately produce a cobalt and nickel sulphate product for the fast-growing battery market.”

ASX Announcement

5 February, 2017

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Overview

Mt Venn is growing into a sizeable and unique deposit, hosting copper, nickel and cobalt as primary magmatic sulphide and remobilized sulphide mineralisation along various structures and the dominant north-west metamorphic fabric.

Central Zone – Previously reported drill results (yellow) and new results (red) over RTP 1VD magnetics

Copper occurs primarily as chalcopyrite, often remobilized and concentrated along structures and at the margin of massive sulphides. Drilling along the western lens has intersected almost exclusively remobilized copper, with the highest grades (2.5m @ 2.2% Cu) associated with a northwest trending structure at the contact of the mafic intrusion and footwall meta-sediments.

ASX Announcement

5 February, 2017

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The nickel and cobalt mineralisation at Mt Venn is quite unique, being hosted predominantly in pyrrhotite which exhibits favourable characteristics for low cost atmospheric leaching to produce nickel and cobalt sulphate for the battery market.

Assay and micro-probe analysis on a limited number of samples indicates grades of 0.28%0.30% Ni and 0.06%-0.10% Co in the pyrrhotite, with negligible copper. The proposed metallurgical flowsheet will float a separate chalcopyrite and pyrrhotite concentrate, with the pyrrhotite concentrate to then undergo additional atmospheric and low-pressure leach testwork to extract the nickel and cobalt.

The massive pyrrhotite shows a primary magmatic texture with only minor remobilisation and typically in close proximity to the massive zone. The amount of sulphide mineralisation in the Central zone is by far the largest accumulation within the Mt Venn Igneous Complex, suggesting the Central zone represents a significant basal sulphide accumulation. The fact the massive sulphide accumulation occurs higher up in the intrusion and not at the base is also suggestive of multi-phase magma pulses into layered sills.

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Drilling along the magnetic trend to the north and south of the Central zone continues to intersect sulphide mineralisation, however it becomes increasingly disseminated and lower grade away from the Central zone. Some significant intersections have been returned that require follow-up, however these holes are located within 1-2km from the Central zone. A DHEM survey will be completed on these holes in the coming weeks to better define the conductor plates for future drilling.

Very little drilling has been completed more than 2km along strike from the Central zone. A diamond tail drilled from 17MVRC018 on the northern boundary of Great Boulder’s Yamarna – Mt Venn tenements intersected wide zones of disseminated and stringer mineralisation. However, no significant copper-nickel-cobalt intersections were returned.

While several untested targets remain, the immediate focus will be infill and extensional drilling within the Central zone.

Mt Venn Intrusion – Previously reported drill results (yellow) and new results (red) over RTP 1VD magnetics

ASX Announcement

5 February, 2017

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Drilling Details

A total of twelve new RC and six diamond holes (four from surface and two diamond tails) were drilled in late 2017. Within the central zone, eight RC holes and four diamond holes were drilled with all holes intersecting significant copper-nickel-cobalt mineralisation.

RC hole 17MVRC022 tested the northern extension of the main lens within the Central zone, returning exceptional results. Over 70m of shallow copper-nickel-cobalt mineralisation was intersected from 38m downhole. Mineralisation remains open to the north and down dip and is the continuation of mineralisation drilled along strike to the south. Drilling is planned to test the down dip and northern extension from 17MVRC022.

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X-Section 6887690mN with DHEM conductor plates (coloured) and MLEM plates (grey) - TMI-1VD magnetic image top

To the south, 17MVRC021 was drilled to test the down dip extension of the main lens intersected in the last drill program. The down-dip extension was intersected at 152m downhole and comprised a 20m mixed copper-nickel-cobalt interval, with a higher-grade copper interval of 6m at 1.1% Cu .

A new lens was also intersected at only 25m depth which returned 1m 1.3% Cu and some of the highest nickel-cobalt grades of 7m @ 0.3% Ni and 0.09% Co . This lens had not previously been identified, however new modelling of steeper dipping lenses from the moving loop survey has defined a conductor which can be traced along strike and down dip.

A step out hole to the east is planned to test the newly discovered lens plus the down dip extension of the main lens.

ASX Announcement

5 February, 2017

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X-Section 6887660mN with DHEM conductor plates (coloured) and MLEM plates (grey) - TMI-1VD magnetic image top

Diamond drill hole 17MVDD001 was drilled to test the continuity of the main lens and returned a mineralised intercept of 33m at 0.5% Cu, 0.1% Ni and 0.05% Co from 76m downhole. RC hole 17MVRC029 was drilled immediately to the east, however only minor mineralisation was intersected. DHEM will be used to locate the conductor plate and determine if there is a structural offset or the lens has changed orientation.

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X-Section 6887580mN with DHEM conductor plates (coloured) and MLEM plates (grey) - TMI-1VD magnetic image top

ASX Announcement

5 February, 2017

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Diamond hole 17MVDD003 targeted a western conductor previously intersected with RC hole 17MVRC001 that returned high grade copper up to 4.3%. Over 70m of sulphide mineralisation was intersected, with several zones of higher grade copper associated with remobilized chalcopyrite along structures.

The highest grades of 2.5m @ 2.2% Cu were intersected on the basal contact between the intrusion and footwall meta-sediment. The basal contact is difficult to distinguish in the magnetics due to the presence of extensive pyrrhotite, however the intersections in 17MVDD003 and 17MVRC001 as well as the upcoming gravity survey will help constrain the contact. Drill holes are also planned to test the dip and strike extent of copper mineralisation and structural controls.

RC hole 17MVRC030 tested the main lens and returned two zones of shallow mineralisation. The upper zone starts at 44m downhole and intersected a copper rich horizon (grades up to 1.1% Cu) bounding a nickel-cobalt pyrrhotite unit. The lower unit is a broad 15m zone of mostly nickel-cobalt mineralisation with minor copper. There does appear to be a shift of the main lens to the east when compared to mineralisation intersected further north. A hole is planned to the west of 17MVRC030 to test the up-dip mineralisation and possible conductors further west.

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X-Section 6887450mN with DHEM conductor plates (coloured) and MLEM plates (grey) - TMI-1VD magnetic image top

ASX Announcement

5 February, 2017

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RC hole 17MVRC028 intersected 30m of mineralisation from 122m downhole, with the main mineralised lens between 126m – 151m downhole. Mineralisation is a mix of nickelcobalt dominant zones with more copper rich and structurally controlled remobilised zones. Drilling is planned to test the up-dip extension of 17MVRC028.

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X-Section 6887370mN with DHEM conductor plates (coloured) and MLEM plates (grey) - TMI-1VD magnetic image top

A diamond tail was drilled off RC hole 17MVRC008 to test an off-hole conductor. The diamond tail intersected mineralisation over several zones starting at 130m downhole. Mineralisation is very consistent with that seen to the north in hole 17MVRC028.

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X-Section 6887320mN with DHEM conductor plates (coloured) and MLEM plates (grey) - TMI-1VD magnetic image top

ASX Announcement

5 February, 2017

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Appendix 1 –Drill hole collar location

Hole ID	Easting	Northing	Azimuth	Dip	EoH (m)	Hole Type
17MVDD001	550360	6887580	270	-60	168.1	Diamond
17MVDD002	550320	6887660	270	-60	123.3	Diamond
17MVDD003	550280	6887460	260	-60	159.1	Diamond
17MVDD004	552400	6883175	270	-60	243.1	Diamond
17MVRCD008	550332	6887321	270	-60	165.4	Diamond Tail
17MVRCD018	550351	6889889	260	-60	162.5	Diamond Tail
17MVRC021	550390	6887660	270	-60	204	Reverse Circulation
17MVRC022	550330	6887690	270	-60	132	Reverse Circulation
17MVRC023	550520	6887940	270	-60	120	Reverse Circulation
17MVRC024	550460	6888160	270	-60	100	Reverse Circulation
17MVRC025	550440	6888440	270	-60	180	Reverse Circulation
17MVRC026	550380	6887800	270	-60	192	Reverse Circulation
17MVRC027	550382	6887321	225	-60	167	Reverse Circulation
17MVRC028	550360	6887370	270	-65	228	Reverse Circulation
17MVRC029	550400	6887580	270	-60	179	Reverse Circulation
17MVRC030	550410	6887460	270	-65	180	Reverse Circulation
17MVRC031	550560	6886750	270	-70	240	Reverse Circulation
17MVRC032	550810	6886150	270	-60	198	Reverse Circulation

ASX Announcement

5 February, 2017

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Appendix 2 –Summary of Significant Intersections

Central Zone

17MVDD001	17MVDD001	17MVDD001	17MVDD001	17MVDD001
From To	Interval	Cu % (max graph 3%)	Ni % (max graph 0.3 %)	Co ppm (max graph 1000ppm)
64.5 65	0.5	0.27	0.04	144
65 65.9	0.9	0.38	0.14	503
65.9 66.35	0.45	0.08	0.09	339
66.4 66.7	0.35	0.42	0.13	665
66.7 67.7	1	0.26	0.04	146
67.7 68.7	1	0.06	0.02	60
68.7 69.5	0.8	0.51	0.04	144
69.5 70	0.5	0.07	0.19	635
70 71	1	0.04	0.03	102
71 71.5	0.5	0.07	0.03	118
71.5 72.27	0.77	0.12	0.05	177
72.3 73.57	1.3	0.02	0.01	47
73.6 74	0.43	0.08	0.03	107
74 75	1	0.04	0.01	49
75 75.42	0.42	0.06	0.01	60
75.4 76.02	0.6	0.20	0.02	73
76 77	0.98	0.14	0.18	572
77 78	1	0.15	0.24	775
78 78.8	0.8	0.13	0.22	694
78.8 79.8	1	0.27	0.07	231
79.8 80.8	1	0.28	0.09	315
80.8 81.3	0.5	0.29	0.10	1,900
81.3 81.7	0.4	1.26	0.12	360
81.7 82.2	0.5	0.84	0.07	224
82.2 82.7	0.5	0.22	0.13	598
82.7 83	0.3	0.70	0.12	436
83 84	1	0.13	0.22	742
84 85	1	0.13	0.23	780
85 85.65	0.65	0.17	0.20	682
85.7 86.3	0.65	0.12	0.03	134
86.3 87.1	0.8	0.24	0.10	360
87.1 88.1	1	0.56	0.09	310
88.1 89.1	1	0.42	0.10	349
89.1 90	0.9	0.38	0.11	388
90 91	1	1.03	0.11	412
91 92	1	0.75	0.10	363
92 93	1	0.70	0.09	329
93 93.8	0.8	0.46	0.10	354
93.8 94.5	0.7	1.12	0.11	404
94.5 95.5	1	1.10	0.08	298
95.5 96.5	1	0.40	0.13	434
96.5 97	0.5	0.57	0.16	575
97 97.65	0.65	0.47	0.11	516
97.7 98.65	1	0.24	0.19	694
98.7 99.05	0.4	0.80	0.12	497
99.1 99.36	0.31	0.20	0.24	799
99.4 99.66	0.3	0.72	0.18	603
99.7 100.1	0.44	0.40	0.17	551
100 100.4	0.3	2.35	0.12	390
100 101.2	0.8	0.11	0.03	96
101 102.2	1	0.35	0.14	463
102 102.8	0.6	0.37	0.10	338
103 103.8	1	0.64	0.23	739
104 104.8	1	0.37	0.25	829
105 105.5	0.7	1.63	0.15	523
106 106	0.5	0.36	0.23	742
106 107	1	0.31	0.19	621
107 108	1	0.38	0.24	775
108 109	1	0.58	0.20	663

ASX Announcement

5 February, 2017

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17MVDD003	17MVDD003	17MVDD003	17MVDD003	17MVDD003
From To	Interval	Cu % (max graph 3%)	Ni % (max graph 0.3 %)	Co ppm (max graph 1000ppm)
70.6 71.4	0.8	0.80	0.09	304
71.4 72.1	0.7	0.03	0.02	61
72.1 72.4	0.3	0.73	0.09	340
72.4 73.2	0.8	0.16	0.06	216
73.2 73.5	0.3	0.48	0.08	451
73.5 74.5	1.0	0.16	0.09	361
74.5 75.0	0.5	0.29	0.08	275
75.0 75.8	0.8	0.40	0.11	405
75.8 76.8	1.0	0.19	0.19	674
76.8 77.4	0.6	0.25	0.07	249
77.4 78.3	0.9	0.88	0.08	280
78.3 79.3	1.0	0.40	0.09	343
79.3 80.0	0.7	0.25	0.07	285
80.0 81.0	1.0	0.35	0.09	339
81.0 82.0	1.0	0.33	0.09	330
97.3 97.6	0.3	0.84	0.03	122
97.6 97.9	0.3	5.61	0.13	465
97.9 98.6	0.7	1.21	0.02	111
98.6 99.1	0.5	0.09	0.02	80
99.1 99.4	0.3	0.23	0.14	466
99.4 100.0	0.6	0.27	0.02	81
100.0 100.9	0.9	0.18	0.05	198
100.9 101.2	0.3	1.61	0.05	236
101.2 101.5	0.3	0.96	0.02	102
101.5 102.0	0.5	1.05	0.02	95
102.0 103.0	1.0	0.25	0.11	374
103.0 104.0	1.0	0.12	0.03	104
104.0 105.0	1.0	0.73	0.03	120
105.0 106.0	1.0	0.08	0.02	127
106.0 107.0	1.0	0.22	0.04	495
107.0 107.3	0.3	0.47	0.01	63
107.3 108.2	0.9	1.29	0.06	223
108.2 108.7	0.5	0.16	0.02	85
108.7 109.7	1.0	0.93	0.06	205
118.0 119.0	1.0	0.27	0.04	145
119.0 120.0	1.0	0.25	0.04	143
120.0 121.0	1.0	0.36	0.09	272
121.0 122.0	1.0	0.15	0.07	333
122.0 123.0	1.0	0.19	0.12	374
123.0 123.8	0.8	1.64	0.10	331
123.8 124.5	0.8	0.35	0.08	255
124.5 125.0	0.5	0.82	0.08	468
125.0 125.6	0.6	0.46	0.05	162
125.6 126.0	0.4	0.31	0.04	158
126.0 127.0	1.0	0.33	0.03	88
127.0 127.5	0.5	0.08	0.02	81
127.5 128.0	0.5	0.42	0.07	375
128.0 128.4	0.4	0.51	0.02	130
128.4 128.9	0.5	0.40	0.05	351
128.9 129.5	0.6	0.82	0.12	380
129.5 130.0	0.5	1.16	0.03	179
130.0 130.7	0.7	0.59	0.03	89
130.7 131.2	0.6	2.25	0.06	191
131.2 132.0	0.8	0.30	0.02	79
132.0 133.0	1.0	0.60	0.02	71
133.0 134.0	1.0	0.11	0.01	52
134.0 135.0	1.0	0.09	0.03	167
135.0 136.0	1.0	0.08	0.02	85
136.0 136.4	0.4	0.05	0.01	45
136.4 137.0	0.6	0.07	0.00	31
137.0 138.0	1.0	0.34	0.02	76
138.0 139.0	1.0	1.30	0.02	101
139.0 140.0	1.0	1.91	0.01	66
140.0 140.9	0.9	0.56	0.02	67
140.9 141.5	0.6	5.02	0.06	209
141.5 142.0	0.5	0.53	0.08	251
142.0 142.4	0.3	1.41	0.04	143

ASX Announcement

5 February, 2017

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17MVRCD008	17MVRCD008	17MVRCD008	17MVRCD008	17MVRCD008
From To	Interval	Cu % (max graph 3%)	Ni % (max graph 0.3 %)	Co ppm (max graph 1000ppm)
103 104	0.5	0.09	0.10	299
104 104	0.85	1.01	0.04	112
104 105	0.65	0.29	0.23	733
105 106	1	0.16	0.21	707
106 107	1	0.19	0.17	568
107 108	0.85	0.13	0.21	696
108 109	0.85	0.47	0.11	465
109 110	0.9	1.38	0.12	372
110 111	1	0.15	0.21	681
111 111	0.75	0.54	0.23	721
111 112	1	0.63	0.10	466
112 113	0.5	0.42	0.14	665
113 113	0.35	2.13	0.15	447
113 114	0.7	0.11	0.25	775
114 114	0.5	0.33	0.15	1,090
114 115	0.6	0.14	0.07	229
115 116	1	0.05	0.02	107
116 117	1	0.02	0.01	73
117 118	1	0.05	0.02	108
118 118	0.4	0.51	0.11	378
118 119	0.6	0.14	0.06	230
119 120	1	0.04	0.02	89
120 121	1.25	0.04	0.01	63
121 122	0.9	0.24	0.17	579
122 123	0.7	0.20	0.20	665
123 124	0.65	0.10	0.02	84
124 124	0.5	0.08	0.22	744
124 125	1	0.27	0.07	238
125 126	1	0.04	0.02	73
126 127	1	0.04	0.02	83
127 128	1	0.04	0.02	92
128 129	1	0.04	0.02	94
129 130	0.7	0.04	0.02	84
130 130	0.4	0.30	0.04	168
130 131	0.75	0.15	0.23	698
131 131	0.3	1.65	0.14	426
131 132	0.9	0.04	0.23	696
132 133	0.5	0.82	0.06	201
133 133	0.8	0.33	0.03	105
133 134	0.5	0.09	0.01	63
134 134	0.32	0.20	0.00	18
134 135	0.6	0.48	0.02	83
135 135	0.6	0.12	0.21	608
135 136	0.63	0.48	0.04	154
136 137	0.5	0.42	0.10	325

ASX Announcement

5 February, 2017

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17MVRC021	17MVRC021	17MVRC021	17MVRC021	17MVRC021
From To	Interval	Cu % (max graph 3%)	Ni % (max graph 0.3 %)	Co ppm (max graph 1000ppm)
24 25	1	0.30	0.13	463
25 26	1	1.32	0.18	628
26 27	1	0.24	0.31	1,040
27 28	1	0.18	0.33	1,090
28 29	1	0.26	0.20	657
29 30	1	0.22	0.20	755
30 31	1	0.12	0.28	958
31 32	1	0.18	0.29	937
32 33	1	0.22	0.21	755
33 34	1	0.31	0.10	476
34 35	1	0.21	0.08	316
35 36	1	0.21	0.08	298
36 37	1	0.67	0.04	168
37 38	1	0.24	0.07	272
38 39	1	0.33	0.11	405
39 40	1	0.87	0.10	377
40 41	1	0.49	0.11	423
41 42	1	0.66	0.07	285
42 43	1	0.28	0.10	386
43 44	1	0.25	0.04	168
122 123	1	0.22	0.06	213
123 124	1	0.21	0.07	265
124 128	4	0.19	0.05	202
128 130	2	0.17	0.04	186
130 131	1	0.33	0.08	287
131 132	1	0.30	0.09	305
132 133	1	0.08	0.04	165
133 134	1	0.19	0.06	208
134 135	1	0.19	0.09	293
135 136	1	0.50	0.12	437
136 137	1	0.19	0.06	225
137 140	3	0.08	0.03	108
140 144	4	0.12	0.02	72
144 148	4	0.04	0.01	38
148 152	4	0.02	0.01	33
152 153	1	0.22	0.14	393
153 154	1	1.35	0.13	401
154 155	1	1.83	0.08	258
155 156	1	1.07	0.14	416
156 157	1	0.71	0.12	359
157 158	1	0.58	0.12	364
158 159	1	0.86	0.10	304
159 160	1	0.35	0.09	284
160 161	1	0.26	0.19	524
161 162	1	0.29	0.14	378
162 163	1	0.90	0.02	70
163 164	1	0.59	0.08	242
164 165	1	0.57	0.11	329
165 166	1	0.30	0.12	341
166 167	1	0.26	0.18	515
167 168	1	0.23	0.17	484
168 169	1	0.35	0.17	493
169 170	1	0.18	0.19	534
170 171	1	0.50	0.16	450
171 172	1	0.48	0.13	368
172 173	1	0.37	0.14	402
173 174	1	0.21	0.06	196
174 175	1	0.27	0.14	436
175 176	1	0.29	0.05	157

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17MVRC022	17MVRC022	17MVRC022	17MVRC022	17MVRC022
From To	Interval	Cu % (max graph 3%)	Ni % (max graph 0.3 %)	Co ppm (max graph 1000ppm)
31 32	1	0.46	0.07	271
32 33	1	0.42	0.06	232
33 34	1	0.31	0.06	247
34 35	1	0.18	0.20	699
35 36	1	0.09	0.13	472
36 37	1	0.39	0.07	275
37 38	1	0.40	0.08	322
38 39	1	1.35	0.06	236
39 40	1	0.32	0.13	437
40 41	1	0.44	0.05	280
41 42	1	0.34	0.06	1,020
42 43	1	0.31	0.17	569
43 44	1	0.17	0.23	786
44 45	1	0.18	0.13	441
45 46	1	0.12	0.05	181
46 47	1	0.12	0.10	340
47 48	1	0.11	0.09	406
48 49	1	0.31	0.07	244
49 50	1	0.41	0.07	231
50 51	1	0.53	0.06	242
51 52	1	0.10	0.08	818
52 53	1	0.62	0.06	462
53 54	1	0.56	0.06	212
54 55	1	0.98	0.06	208
55 56	1	0.65	0.09	300
56 57	1	0.67	0.05	183
57 58	1	0.50	0.12	418
58 59	1	0.48	0.21	671
59 60	1	0.16	0.25	790
60 61	1	0.10	0.01	52
61 62	1	0.43	0.14	459
62 63	1	0.32	0.24	774
63 64	1	0.50	0.23	728
64 65	1	0.78	0.18	584
65 66	1	0.27	0.22	706
66 67	1	0.16	0.21	683
67 68	1	0.63	0.21	666
68 69	1	0.55	0.22	705
69 70	1	0.39	0.22	682
70 71	1	0.82	0.15	490
71 72	1	0.28	0.22	689
72 73	1	0.32	0.18	563
73 74	1	0.36	0.21	656
74 75	1	0.28	0.21	654
75 76	1	0.51	0.20	606
76 77	1	0.60	0.15	462
77 78	1	0.38	0.20	597
84 85	1	0.15	0.22	535
85 86	1	0.20	0.23	546
86 87	1	0.11	0.20	473
87 88	1	0.20	0.20	493
88 89	1	0.17	0.15	387
89 90	1	0.42	0.12	311
90 91	1	0.64	0.07	194
91 92	1	0.47	0.03	103
92 93	1	0.47	0.15	404
93 94	1	0.94	0.13	378
94 95	1	0.33	0.20	540
95 96	1	0.26	0.24	625
96 97	1	0.17	0.23	607
97 98	1	0.28	0.23	601
98 99	1	0.82	0.13	352
99 100	1	2.30	0.06	217
100 101	1	0.50	0.16	485
101 102	1	0.51	0.19	515
102 103	1	0.51	0.19	517
103 104	1	1.72	0.11	335
104 105	1	0.60	0.18	493
105 106	1	0.31	0.15	395
106 107	1	0.26	0.18	470
107 108	1	0.41	0.19	503
108 109	1	0.20	0.23	616
109 110	1	1.29	0.13	371

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17MVRC026	17MVRC026	17MVRC026	17MVRC026	17MVRC026
From To	Interval	Cu % (max graph 3%)	Ni % (max graph 0.3 %)	Co ppm (max graph 1000ppm)
108 109	1	0.23	0.04	114
109 110	1	0.35	0.10	283
110 111	1	0.33	0.12	333
111 112	1	0.61	0.12	338
112 116	4	0.27	0.11	327


17MVRC027
From To	Interval	Cu % (max graph 3%)	Ni % (max graph 0.3 %)	Co ppm (max graph 1000ppm)
102 103	1	0.25	0.11	322
103 104	1	0.26	0.12	286
104 108	4	0.12	0.03	125
108 112	4	0.03	0.01	71
112 116	4	0.06	0.02	69
116 120	4	0.14	0.03	116
120 121	1	0.26	0.06	197
121 122	1	0.46	0.10	348
122 123	1	0.85	0.08	279
123 124	1	0.33	0.06	213
124 125	1	0.32	0.05	220
125 126	1	0.37	0.07	212

17MVRC028	17MVRC028	17MVRC028	17MVRC028	17MVRC028
From To	Interval	Cu % (max graph 3%)	Ni % (max graph 0.3 %)	Co ppm (max graph 1000ppm)
122 123	1	0.22	0.08	275
123 124	1	0.36	0.09	283
124 125	1	0.25	0.08	270
125 126	1	0.25	0.13	433
126 127	1	0.57	0.12	397
127 128	1	0.16	0.20	633
128 129	1	0.34	0.06	200
129 130	1	1.04	0.03	117
130 131	1	0.33	0.14	450
131 132	1	0.57	0.19	598
132 133	1	0.19	0.25	765
133 134	1	0.19	0.25	773
134 135	1	0.20	0.20	613
135 136	1	0.18	0.08	272
136 137	1	0.15	0.06	198
137 138	1	0.50	0.15	443
138 139	1	0.77	0.17	503
139 140	1	0.53	0.13	382
140 141	1	0.66	0.10	527
141 142	1	1.14	0.10	309
142 143	1	1.62	0.14	429
143 144	1	0.37	0.18	539
144 145	1	0.38	0.22	656
145 146	1	0.37	0.25	726
146 147	1	0.30	0.14	435
147 148	1	0.32	0.23	686
148 149	1	0.29	0.19	549
149 150	1	0.47	0.07	222
150 151	1	0.70	0.07	308
151 152	1	0.27	0.04	159

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17MVRC029	17MVRC029	17MVRC029	17MVRC029	17MVRC029
From To	Interval	Cu % (max graph 3%)	Ni % (max graph 0.3 %)	Co ppm (max graph 1000ppm)
139 140	1	0.58	0.03	132
140 141	1	0.27	0.01	72
160 164	4	0.20	0.05	203
164 168	4	0.34	0.06	218


17MVRC030
From To	Interval	Cu % (max graph 3%)	Ni % (max graph 0.3 %)	Co ppm (max graph 1000ppm)
44 45	1	0.41	0.08	222
45 46	1	0.67	0.09	269
46 47	1	0.40	0.08	227
47 48	1	1.14	0.12	308
48 49	1	0.20	0.14	364
49 50	1	0.21	0.14	325
50 51	1	0.20	0.20	555
51 52	1	0.17	0.26	673
52 56	4	0.32	0.12	319
84 85	1	0.21	0.07	352
85 86	1	0.19	0.10	451
86 87	1	0.15	0.08	289
87 88	1	0.17	0.09	293
88 89	1	0.21	0.12	392
89 90	1	0.30	0.13	439
90 91	1	0.25	0.10	334
91 92	1	0.21	0.10	329
92 93	1	0.20	0.14	446
93 94	1	0.14	0.21	670
94 95	1	0.15	0.17	536
95 96	1	0.18	0.25	813
96 100	4	0.20	0.10	400
100 104	4	0.32	0.16	520

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Northern Extension

17MVRC023	17MVRC023	17MVRC023	17MVRC023	17MVRC023
From To	Interval	Cu % (max graph 3%)	Ni % (max graph 0.3 %)	Co ppm (max graph 1000ppm)
51 52	1	0.21	0.05	191
52 53	1	0.33	0.06	203
53 54	1	0.24	0.04	125
54 55	1	0.12	0.04	126
55 56	1	0.21	0.11	412
56 57	1	0.19	0.25	792
57 58	1	0.15	0.15	476
58 59	1	0.09	0.07	216
59 60	1	0.05	0.04	129
60 61	1	0.10	0.02	75
61 62	1	0.08	0.01	38
62 63	1	0.01	0.01	25
63 64	1	1.74	0.05	174
64 65	1	0.67	0.11	367
65 66	1	0.41	0.05	167
66 67	1	0.30	0.11	367
67 68	1	0.14	0.06	221
68 69	1	0.40	0.04	153

17MVRC024	17MVRC024	17MVRC024	17MVRC024	17MVRC024
From To	Interval	Cu % (max graph 3%)	Ni % (max graph 0.3 %)	Co ppm (max graph 1000ppm)
10 11	1	0.21	0.06	163
11 12	1	0.49	0.13	390
12 16	4	0.26	0.08	457
16 20	4	0.14	0.03	161
20 24	4	0.08	0.03	119
24 25	1	0.11	0.11	394
25 26	1	0.61	0.14	478
26 27	1	0.23	0.04	137

17MVRC025	17MVRC025	17MVRC025	17MVRC025	17MVRC025
From To	Interval	Cu % (max graph 3%)	Ni % (max graph 0.3 %)	Co ppm (max graph 1000ppm)
61 62	1	0.21	0.05	160
62 63	1	0.14	0.08	284
63 64	1	0.48	0.06	197
64 68	4	0.13	0.05	175
68 72	4	0.14	0.07	220
72 75	3	0.32	0.09	281

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Southern Extension

17MVRC031	17MVRC031	17MVRC031	17MVRC031	17MVRC031
From To	Interval	Cu % (max graph 3%)	Ni % (max graph 0.3 %)	Co ppm (max graph 1000ppm)
164 168	4	0.09	0.10	288
168 169	1	0.05	0.03	77
169 170	1	0.19	0.33	869
170 171	1	0.38	0.09	265
171 172	1	1.17	0.10	286
172 173	1	0.77	0.07	213
173 174	1	0.24	0.02	70
174 175	1	0.08	0.03	70
175 176	1	0.27	0.09	268

Competent Person’s Statement

Exploration information in this Announcement is based upon work undertaken by Mr Stefan Murphy whom is a Member of the Australasian Institute of Geoscientists (AIG). Mr Stefan Murphy has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which 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’ (JORC Code). Mr Stefan Murphy is an employee of Great Boulder and consents to the inclusion in the report of the matters based on their information in the form and context in which it appears.

Forward Looking Statements

This Announcement is provided on the basis that neither the Company nor its representatives make any warranty (express or implied) as to the accuracy, reliability, relevance or completeness of the material contained in the Announcement and nothing contained in the Announcement is, or may be relied upon as a promise, representation or warranty, whether as to the past or the future. The Company hereby excludes all warranties that can be excluded by law. The Announcement contains material which is predictive in nature and may be affected by inaccurate assumptions or by known and unknown risks and uncertainties, and may differ materially from results ultimately achieved.

The Announcement contains “forward-looking statements”. All statements other than those of historical facts included in the Announcement are forward-looking statements including estimates of Mineral Resources. However, forward-looking statements are subject to risks, uncertainties and other factors, which could cause actual results to differ materially from future results expressed, projected or implied by such forward-looking statements. Such risks include, but are not limited to, copper, gold and other metals price volatility, currency fluctuations, increased production costs and variances in ore grade recovery rates from those assumed in mining plans, as well as political and operational risks and governmental regulation and judicial outcomes. The Company does not undertake any obligation to release publicly any revisions to any “forward-looking statement” to reflect events or circumstances after the date of the Announcement, or to reflect the occurrence of unanticipated events, except as may be required under applicable securities laws. All persons should consider seeking appropriate professional advice in reviewing the Announcement and all other information with respect to the Company and evaluating the business, financial performance and operations of the Company. Neither the provision of the Announcement nor any information contained in the Announcement or subsequently communicated to any person in connection with the Announcement is, or should be taken as, constituting the giving of investment advice to any person.

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Appendix- JORC Code, 2012 Edition Table 1

The following table relates to activities undertaken at Great Boulder’s Yamarna project.

Section 1 Sampling Techniques and Data

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

Criteria	JORC Code explanation	JORC Code explanation	Commentary
*Sampling*	•	Nature and quality of sampling (eg cut	This announcement, and table, reports the resent of the
*techniques*		channels, random chips, or specific	most recent drilling programme at the Mt Venn project
		specialised industry standard measurement	with included both reverse circulation (RC) drilling and
		tools appropriate to the minerals under	diamond drilling (DD).
		investigation, such as down hole gamma
		sondes, or handheld XRF instruments, etc).	Reverse circulation drilling (RC) was used to produce a 1m
		These examples should not be taken as	bulk sample and representative 1m split samples
		limiting the broad meaning of sampling.	(nominally a 12.5% split) were collected using a cone
			splitter.
	•	Include reference to measures taken to
		ensure sample representivity and the	Diamond drilling (DD) was also undertaken, with samples
		appropriate calibration of any	taken either as half core (NQ2), or quarter core (HQ) for
		measurement tools or systems used.	laboratory analysis.
	•	Aspects of the determination of	Geological logging was completed and mineralised
		mineralisation that are Material to the	intervals were determined by the geologists to be
		Public Report.	submitted as 1m samples for RC drilling. In RC intervals
	•	In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is	assessed as unmineralised, 4m composite (scoop) samples were collected for laboratory for analysis. If these 4m composite samples come back with anomalous grade the corresponding original 1m split samples are then routinely submitted to the laboratory for analysis. For the diamond drilling, samples were selected after geological logging and range in sample lengths from 0.3m to 1.5m.
		coarse gold that has inherent sampling
		problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.	The samples were crushed and split at the laboratory, with up to 3kg pulverised, with a 50g samples analysed by Industry standard methods.
			The sampling techniques used are deemed appropriate
			for the style of exploration.
*Drilling*	•	Drill type (eg core, reverse circulation, open-	Reverse Circulation drilling used 140 to 130mm diameter
*techniques*		hole hammer, rotary air blast, auger,	drill bits. RC drilling employed face sampling hammers
		Bangka, sonic, etc) and details (eg core	ensuring contamination during sample extraction is
		diameter, triple or standard tube, depth of	minimised.
		diamond tails, face-sampling bit or other
		type, whether core is oriented and if so, by	Diamond drilling was both NQ2 (50.5mm core diameter)
		what method, etc).	or HQ (63.5mm core diameter). Core was oriented using
			the Reflex Act II RDIS core orientation tool.
*Drill sample*	•	Method of recording and assessing core and	Drilling techniques to ensure adequate RC sample
*recovery*		chip sample recoveries and results assessed.	recovery and quality included the use of “booster” air
			pressure. Air pressure used for RC drilling was 700-
	•	Measures taken to maximise sample	800psi.
		recovery and ensure representative nature
		of the samples.

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	•	Whether a relationship exists	between	Logging of all samples followed established company
		sample recovery and grade and	whether	procedures which included recording of qualitative fields
		sample bias may have occurred due to		to allow discernment of sample reliability. This included
		preferential loss/gain of fine/coarse		(but was not limited to) recording: sample condition,
		material.		sample recovery, sample method.
				Of the 5,147m of RC drilling completed at the project to
				date, overall logging of all sample recovery recorded 92%
				“good”, 3% “moderate’, 6% poor. Logging of the RC
				sample condition has to date recorded 91% “dry”, 3%
				“moist”, 7% “wet”.
				RC sample intervals recorded 42% 1m split samples, and
				55% 4m composite samples (note: generally composite
				samples are in unmineralised zones). The remaining 3%
				were composites of a length other than 4m (typically at
				end of hole).
				5 of the 6 diamond holes have completed logging and
				have an average core recovery of 99%. The remaining
				hole visually appeared to have similar recovery.
				No quantitative analysis of samples weights, sample
				condition or recovery has been undertaken. No
				quantitative twinned drilling analysis has been
				undertaken at the project.
*Logging*	•	Whether core and chip samples have been		Geological logging of samples followed established
		geologically and geotechnically logged to a		company and industry common procedures. Qualitative
		level of detail to support appropriate		logging of samples included (but was not limited to)
		Mineral Resource estimation,	mining	lithology, mineralogy, alteration and weathering.
		studies and metallurgical studies.
	•	Whether logging is qualitative or
		quantitative in nature. Core (or	costean,
		channel, etc) photography.
	•	The total length and percentage of the
		relevant intersections logged.
*Sub-sampling*	•	If core, whether cut or sawn and whether		Splitting of RC samples occurred via cone splitter by the
*techniques*		quarter, half or all core taken.		RC drill rig operators. Cone splitting of RC drill samples
*and sample*				occurred regardless of the sample condition.
*preparation*	•	If non-core, whether riffled, tube	sampled,
		rotary split, etc and whether sampled wet or		Samples taken were typically between 1.5-3.3kg.
		dry.
				All samples were submitted to ALS Minerals (Kalgoorlie)
	•	For all sample types, the nature, quality and		for analyses. The sample preparation included:
		appropriateness of the sample preparation		 Samples were weighed, crushed (such that a
		technique.		minimum of 70% pass 2mm) and pulverised
	•	Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.		(such that a minimum of 85% pass 75um) as per ALS standards.  A 4 acid digest (HNO3-HBr-HF-HCl) and ICP-AES (ALS method; MS-ICP61g) was used for 33
	•	Measures taken to ensure that the	sampling	multi-elements. This also included Co, Cu, Ni,
		is representative of the in situ	material	Zn. Note: ME-MS61g uses HBr in lieu of HClO3
				(used in ME-MS61 4 acid digest). This change

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		collected, including for instance results for	relates to improving resolution of sulphur
		field duplicate/second-half sampling.	values in Mt Venn mineralsation.
			 For elements that reported over range, ALS
	•	Whether sample sizes are appropriate to	used ore grade 4 acid digest and ICP-AES
		the grain size of the material being sampled.	methods; (nickel) Ni-OG62, (copper) Cu-OG62.
			 Sulphur over range used ALS method S-IR08
			(Leco Sulphur analyzer).
			 Iron over range used ALS method Fe-ICP81
			(Sodium Peroxide Fusion).
			Sample collection, size and analytical methods are
			deemed appropriate for the style of exploration.
*Quality of*	•	The nature, quality and appropriateness of	All samples were assayed by industry standard methods
*assay data*		the assaying and laboratory procedures	through commercial laboratories in Australia (ALS
*and*		used and whether the technique is	Minerals, Kalgoorlie).
*laboratory*		considered partial or total.
*tests*			Typical analysis methods are detailed in the previous
	•	For geophysical tools, spectrometers,	section and are consider ‘near total’ values.
		handheld XRF instruments, etc, the
		parameters used in determining the	Routine ‘standard’ (mineralised pulp) Certified Reference
		analysis including instrument make and	Material (CRM) was inserted by Great Boulder at a
		model, reading times, calibrations factors	nominal rate of 1 in 50 samples.
		applied and their derivation, etc.
			Routine ‘blank’ material (unmineralised sand) was
	•	Nature of quality control procedures	inserted at a nominal rate of 1 in 100 samples. No
		adopted (eg standards, blanks, duplicates,	significant issues were noted.
		external laboratory checks) and whether
		acceptable levels of accuracy (ie lack of bias)	No duplicate or umpire checks were undertaken.
		and precision have been established.
			The analytical laboratories provided their own routine
			quality controls within their own practices. No significant
			issues were noted.
*Verification of*	•	The verification of significant intersections	No verification of sampling and assaying has been
*sampling and*		by either independent or alternative	undertaken in this exploration programme. No twinned
*assaying*		company personnel.	drilling has been undertaken.
	•	The use of twinned holes.	Great Boulder has strict procedures for data capture, flow
			and data storage, and validation.
	•	Documentation of primary data, data entry
		procedures, data verification, data storage	Limited adjustments were made to returned assay data;
		(physical and electronic) protocols.	values returned lower than detection level were set to the
	•	Discuss any adjustment to assay data.	methodology’s detection level, and this was flagged by code in the database.
*Location of*	•	Accuracy and quality of surveys used to	Drill collars were set out using a hand held GPS and final
*data points*		locate drill holes (collar and down-hole	collar were collected using a handheld GPS.
		surveys), trenches, mine workings and other
		locations used in Mineral Resource	Downhole surveys were completed by the drilling
		estimation.	contractors. Holes without downhole survey use planned
			or compass bearing/dip measurements for survey
	•	Specification of the grid system used.	control.

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	•	Quality and adequacy of topographic	The MGA94 UTM zone 51 coordinate system was used for
		control.	all undertakings.
*Data spacing*	•	Data spacing for reporting of Exploration	The spacing and location of the majority of the drilling in
*and*		Results.	the projects is, by the nature of early exploration,
*distribution*			variable.
	•	Whether the data spacing and distribution
		is sufficient to establish the degree of	The spacing and location of data is currently only being
		geological and grade continuity appropriate	considered for exploration purposes.
		for the Mineral Resource and Ore Reserve
		estimation procedure(s) and classifications	In intervals qualitatively logged as unmineralised, 4 metre
		applied.	composite (scoop) samples were taken from the RC drill
			holes. RC sample intervals recorded 42% 1m split
	•	Whether sample compositing has been	samples, and 55% 4m composite samples. The remaining
		applied.	3% were composites of a length other than 4m (typically
			at end of hole).
*Orientation of*	•	Whether the orientation of sampling	Drilling was nominally perpendicular to regional
*data in*		achieves unbiased sampling of possible	mineralisation trends where interpreted and practical.
*relation to*		structures and the extent to which this is	True width and orientation of intersected mineralisation
*geological*		known, considering the deposit type.	is currently unknown.
*structure*
	•	If the relationship between the drilling	A list of the drillholes and orientations are reported with
		orientation and the orientation of key	significant intercepts is provided as an appended table.
		mineralised structures is considered to have
		introduced a sampling bias, this should be	The spacing and location of the data is currently only
		assessed and reported if material.	being considered for exploration purposes.
*Sample*	•	The measures taken to ensure sample	Great Boulder has strict chain of custody procedures that
*security*		security.	are adhered to for drill samples.
			All sample bags are pre-printed and pre-numbered.
			Sample bags are placed in a polyweave bags (up to 5
			samples) and closed with a zip tie such that no sample
			material can spill out and no one can tamper with the
			sample once it leaves the company’s custody.
*Audits or*	•	The results of any audits or reviews of	None completed.
*reviews*		sampling techniques and data.

Section 2 Reporting of Exploration Results

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

Criteria	JORC	Code explanation	Commentary
*Mineral*	•	Type, reference name/number, location	Great Boulder Resource Ltd (GBR) is comprised of
*tenement and*		and ownership including agreements or	several projects with	associated tenements;
*land tenure*		material issues with third parties such as
*status*		joint ventures, partnerships, overriding	Yamarna tenements	and details;
		royalties, native title interests, historical
		sites, wilderness or national park and	Exploration licences	E38/2685, E38/2952, E38/2953,
		environmental settings.	E38/5957, E38/2958, E38/2320		and prospecting
			licence P38/4178 where,
	•	The security of the tenure held at the
		time of reporting along with any known	GBR has executed	a JV agreement to earn 75%
			interest through	exploration	expenditure of
			$2,000,000 AUD	over five	years. Following

ASX Announcement

5 February, 2017

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		impediments to obtaining a license to	impediments to obtaining a license to	impediments to obtaining a license to	satisfaction of the minimum expenditure
		operate in the area.			commitment by GBR, EGMC (current tenement
					owner) will have the right to contribute to
					expenditure in the project at its 25% interest level or
					choose to convert to a 2% Net Smelter Royalty (NSR).
					Should EGMC choose to convert its remaining interest
					into a 2% NSR, then GBR will have a 100% interest in
					the project.
*Exploration*	•	Acknowledgment	and appraisal	of	Previous explorers included:
*done by other*		exploration by other	parties.		 1990’s. Kilkenny Gold NL completed wide-
*parties*					spaced, shallow, RAB drilling over a limited
					area. Gold assay only.
					 2008. Elecktra Mines Ltd (now Gold Road
					Resources Ltd) completed two shallow RC
					holes targeting extension to Mt Venn
					igneous complex. XRF analysis only, no
					geochemical analysis completed.
					 2011. Crusader Resources Ltd completed
					broad-spaced aircore drilling targeting
					extensions to Thatcher’s Soak uranium
					mineralisation. XRF anlaysis only, no
					geochemical analysis completed.
					 In late 2015 Gold Road drilled and assayed
					an RC drill hole on the edge of an EM
					anomaly identified from an airborne XTEM
					survey, identifying copper-nickel-cobalt
					mineralisation.
*Geology*	•	Deposit type, geological setting and style			Great Boulder’s Yamarna Project hosts the southern
		of mineralisation.			extension of the Mt Venn igneous complex. This
					complex is immediately west of the Yamarna
					greenstone belt.
					The mineralisation encountered in the Mt Venn
					drilling suggests that sulphide mineralisation is
					prominent along an EM conductor trend, and shows
					a highly sulphur-saturated system within
					metamorphosed dolerite and gabbro sequence.
					Visual logging of sulphide mineralogy shows
					pyrrhotite dominant with chalcopyrite.
*Drill hole*	•	A summary of all information material to			A complete list of the reported significant results from
*Information*		the understanding	of the exploration		Great Boulder’s drilling is provided in the body of the
		results including a tabulation of		the	report.
		following information for all Material drill
		holes:			A list of the drillhole coordinates, orientations and
	`o`	easting and northing of the drill hole			metrics are provided as an appended table.
		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.

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	•	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,	No weight averaging techniques,			aggregation
*aggregation*		weighting averaging techniques,	methods or grade truncations were applied to these
*methods*		maximum and/or minimum grade	exploration results.
		truncations (eg cutting of high grades)
		and cut-off grades are usually Material	All significant intercept lengths were from 1m splits.
		and should be stated.	No length weighting was applied.
	•	Where aggregate intercepts incorporate	No metal equivalents are used.
		short lengths of high grade results and
		longer lengths of low grade results, the
		procedure used for such aggregation
		should be stated and some typical
		examples of such aggregations should be
		shown in detail.
	•	The assumptions used for any reporting
		of metal equivalent values should be
		clearly stated.
*Relationship*	•	These relationships are particularly	The orientation of structures and mineralisation is not
*between*		important in the reporting of Exploration	known with certainty but drilling was		conducted using
*mineralisation*		Results.	appropriate orientations	for		interpreted
*widths and*			mineralisation.
*intercept*	•	If the geometry of the mineralisation with
*lengths*		respect to the drill hole angle is known, its	True width and orientation		of	intersected
		nature should be reported.	mineralisation is currently unknown.
	•	If it is not known and only the down hole	A list of the drillholes and orientations are reported
		lengths are reported, there should be a	with significant intercepts is provided as an appended
		clear statement to this effect (eg ‘down	table.
		hole length, true width not known’).
*Diagrams*	•	Appropriate maps and sections (with	Refer to figures in announcement.
		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.
*Balanced*	•	Where comprehensive reporting of all	It is not practical to report all exploration results. Low
*reporting*		Exploration Results is not practicable,	or non-material grades have not been reported.
		representative reporting of both low and
		high grades and/or widths should be	All drill hole locations are reported and a table of
		practiced to avoid misleading reporting of	significant intervals is provided in	the	announcement.
		Exploration Results.
*Other*	•	Other exploration data, if meaningful and	In late 2015 Gold Road drilled and assayed an RC drill
*substantive*		material, should be reported including	hole on the edge of an EM anomaly identified from an
		(but not limited to): geological	airborne XTEM survey, identifying copper-nickel-

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*exploration*		observations; geophysical survey results;	cobalt mineralisation. Great Boulder subsequently
*data*		geochemical survey results; bulk samples	re-assayed the hole and confirmed primary bedrock
		– size and method of treatment;	sulphide mineralisation, with peak assay results of
		metallurgical test results; bulk density,	1.7% Cu, 0.2% Ni, 528ppm Co (over 1m intervals) over
		groundwater, geotechnical and rock	two distinct lenses.
		characteristics; potential deleterious or
		contaminating substances.	Great Boulder completed a ground based moving
			loop EM survey in September 2017 and reported
			extensive strong EM conductors and co-incident
			copper-nickel mineralisation from aircore
			geochemistry (refer to announcement dated 5
			October 2017).
			Great Boulder has also recently undertaken RC
			exploratory drilling with down hole EM surveys (refer
			to announcement data 27 November 2017).
*Further work*	•	The nature and scale of planned further	Potential work across the project may include
		work (eg tests for lateral extensions or	detailed additional geological mapping and surface
		depth extensions or large-scale step-out	sampling, additional geophysical surveys (either
		drilling).	surface or downhole), and potentially additional
			confirmatory or exploratory drilling.
	•	Diagrams clearly highlighting the areas of
		possible extensions, including the main
		geological interpretations and future
		drilling areas, provided this information is
		not commercially sensitive.

AI assistant

GREAT BOULDER RESOURCES LIMITED Capital/Financing Update 2018

64967_rns_2018-02-04_cd1ebd92-9bcf-41f1-a0fb-c64dfae37d46.pdf

Strong assays confirm Mt Venn is a major WA copper-nickel-cobalt discovery

Overview

Drilling Details

Appendix 1 –Drill hole collar location

Appendix 2 –Summary of Significant Intersections

Central Zone

Northern Extension

Southern Extension

Competent Person’s Statement

Forward Looking Statements

Appendix- JORC Code, 2012 Edition Table 1

Section 1 Sampling Techniques and Data

Section 2 Reporting of Exploration Results

AI assistant

GREAT BOULDER RESOURCES LIMITED — Capital/Financing Update 2018

64967_rns_2018-02-04_cd1ebd92-9bcf-41f1-a0fb-c64dfae37d46.pdf

Strong assays confirm Mt Venn is a major WA copper-nickel-cobalt discovery

Overview

Drilling Details

Appendix 1 –Drill hole collar location

Appendix 2 –Summary of Significant Intersections

Central Zone

Northern Extension

Southern Extension

Competent Person’s Statement

Forward Looking Statements

Appendix- JORC Code, 2012 Edition Table 1

Section 1 Sampling Techniques and Data

Section 2 Reporting of Exploration Results

More from GREAT BOULDER RESOURCES LIMITED

GREAT BOULDER RESOURCES LIMITED Capital/Financing Update 2018