GREAT BOULDER RESOURCES LIMITED - Capital/Financing Update 2019

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ASX Announcement
30 August 2019
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Acquisition of Whiteheads Gold Pr near Kal rlie oject goo

Highlights

Heads of Agreement signed with Zebina Minerals Pty Ltd for an option to acquire 75% of the Whiteheads Gold Project
Whiteheads is a highly attractive gold project in a sought-after area, just 60km north of Kalgoorlie in Western Australia
Multiple large-scale gold anomalies and previous drill intersections include:
8m @ 7.19g/t Au from 74m in SL083
7m @ 5.91g/t Au from 64m in LBRC013
3m @ 6.62g/t Au from 60m in LBRC007
3m @ 11.90g/t Au from 75m in LBRC008
Numerous drill-ready targets and large soil geochemical anomalies to be tested

Great Boulder Resources Limited [ASX: GBR] (“Great Boulder” or “the Company”) is pleased to announce it has signed an option to acquire a 75% interest in the advanced Whiteheads Gold Project (“Whiteheads”) from Zebina Minerals Pty Ltd.

The Whiteheads project is located 60km north of Kalgoorlie in the Eastern Goldfields of Western Australia, in an extremely prospective area adjacent to Kalnorth Gold Mines’ 215,000oz Lindsays gold project[1] and north of Poseidon’s Black Swan nickel mine.

The Whiteheads landholding was recently consolidated into a single project by Scott Wilson of Zebina Minerals, following a long history of fragmented ownership by a number of explorers. This means GBR can utilise the full potential of all the historic data over the whole project area for the first time.

Great Boulder Managing Director Andrew Paterson said Whiteheads is a unique opportunity to acquire such a large landholding in a tightly-held area of the Goldfields.

“We’ve reviewed a lot of projects over the past two months and we haven’t seen anything which offers the same potential as Whiteheads,” Mr Paterson said. “We are already aware that the project hosts high-grade gold and numerous, large targets have already been identified for drilling, representing an exciting opportunity for the Company.

1 ASX Announcement by Kalnorth Gold Mines Ltd [KGM] 31/10/2018 “Annual Report to shareholders”

ASX Code: GBR Contact: Andrew Paterson, Managing Director E: [email protected] GREATBOULDER.COM.AU P: +61 8 6323 7800 PO Box 1565, Applecross 6953, Western Australia ABN 70 611 695 955

ASX Announcement

30 August 2019

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“This includes walk-up drill targets as well as a number of first-class soil anomalies that haven’t yet been tested. The largest target is a +25ppb gold in soils anomaly spanning over 6.5km.

“We are also delighted to be dealing with Scott Wilson as a partner in this acquisition. Scott has years of experience in identifying quality gold projects, as his history with the Andy Well discovery demonstrates. We look forward to advancing the Whiteheads Gold project for the mutual benefit of our shareholders and Zebina.”

Acquisition Summary

The key commercial terms of the agreement are:

Great Boulder will take a 12-month option to explore Whiteheads for a payment of $50,000 in cash plus $50,000 in GBR shares to Zebina Minerals (based on the 20-day VWAP at the date of signing the Head of Agreement being $0.051, issued under the Company’s placement capacity under Listing Rule 7.1).
During the option period, Great Boulder has committed to a minimum on-ground expenditure of $200,000.
To exercise the option, Great Boulder will pay Zebina an additional payment of $200,000 cash and $200,000 in GBR shares (based on a 10% discount to the 20-day VWAP at the date of exercise of the option) plus a one-for-one free attaching 3-year option valued at 125% of the 20-day VWAP at the date of exercise. The issue of the shares and options is subject to shareholder approval.
Upon exercising the option, Great Boulder will hold 75% of the Whitehads project tenements, with Zebina Minerals holding a 25% interest free-carried to a decision to mine.

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FIGURE 1: WHITEHEADS GOLD PROJECT

ASX Announcement

30 August 2019

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FIGURE 2: WHITEHEADS PROJECT LOCATION

Whiteheads Gold Project – location & tenure

The project is located between 45 and 70km north-northwest of Kalgoorlie on the Yarri Road (Figure 2). The tenement package is comprised of one active Exploration Licence and two EL applications. The granted tenement E27/544 covers an area of approximately 185km[2] including up to 15km of strike on a number of potential mineralized trends. Tenement applications E24/588 and E27/622 cover an additional 22 and 10 graticular blocks respectively. Once granted, these tenements will add approximately 49km[2] to the project area.

Geological Setting

Whiteheads is situated on the western side of the Kurnalpi Terrane, with lithologies of the Kalgoorlie Terrane immediately to the west. Dominant lithologies include mafic, intermediate and felsic volcanics, and gabbros. Komatiites in the northwest portion of E27/544 are of interest due to their proximity to the Carr Boyd Rocks nickel project immediately north of the project area, however the Company is not aware of any nickel exploration that has been done in this area to test the potential of the komatiites to host nickel sulphides.

E: [email protected] GREATBOULDER.COM.AU ABN 70 611 695 955

ASX Code: GBR Contact: Andrew Paterson, Managing Director P: +61 8 6323 7800 PO Box 1565, Applecross 6953, Western Australia

ASX Announcement

30 August 2019

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Previous work at Whiteheads indicates a strong structural control on mineralisation, with gold occurring in laminated quartz veins hosted by highly altered country rocks. Gold concentrations are frequently shear-related, as is commonly the case with Archaean lode gold deposits. Pervasive carbonate alteration is common, with minor sericitisation.

The 215,000oz Lindsays Gold Project owned by Kalnorth Gold Mines Ltd is located immediately west of E27/588. Mineralisation at Lindsays is controlled by northwest-trending structures that run through a folded sequence of dolerite, basalt, and metasediments[2] , with Whiteheads tenure situated along strike to the north and south.

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FIGURE 3: COLLATED SOIL GEOCHEMISTRY SHOWS THE SIGNIFICANT SCALE OF COHERENT GOLD ANOMALIES. SAMPLING IN THE SOUTHERN PORTION OF THE PROJECT MAY HAVE BEEN AFFECTED BY ALLUVIAL COVER.

2 KGM website: www.kalnorthgoldmines.com.au

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30 August 2019

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FIGURE 4: PREVIOUS DRILLING (MAXIMUM DOWNHOLE AU) OVER A HEAT MAP OF GOLD-IN-SOIL VALUES

Work by Previous Explorers

The project has been worked by a number of companies, mainly exploring for gold. Data collated by Zebina Minerals dates back to WAMEX reports from 1988 through to the start of Zebina’s tenure in 2015.

The data collated from reports and digital files amounts to over 15,000 geochemical samples; mainly conventional soil samples and auger soil samples with a minor amount of BLEG sampling. The geochemical data is mainly located over the northern portion of E27/544, with drainage and transported cover on the southern area of the tenement making soil sampling ineffective.

In addition, data from 1,434 drill holes has been collated, consisting of 1,261 RAB holes, 169 RC holes and four Diamond holes. Collectively this equates to over 61km of previous drilling and a huge cache of data from exploration investment already completed on the Whiteheads Project.

E: [email protected] GREATBOULDER.COM.AU ABN 70 611 695 955

ASX Code: GBR Contact: Andrew Paterson, Managing Director P: +61 8 6323 7800 PO Box 1565, Applecross 6953, Western Australia

ASX Announcement

30 August 2019

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FIGURE 5: DRILL COVERAGE OVER REGIONAL MAGNETICS.

Exploration Upside

There are a number of prospects within the project where previous drilling has highlighted significant mineralisation requiring follow-up exploration.

Seven Leaders is the most advanced prospect, with structurally-controlled mineralisation drilled from near surface to a depth of approximately 100m below surface (Figure 7). Drilling to date has defined a strike length of approximately 300m, however mineralisation remains open along strike in both directions, and also down plunge.

Seven Leaders drilling includes high-grade intersections such as 8m @ 7.19g/t Au from 74m in hole SL083.
Hole SL068 intersected 23m @ 2.90g/t Au from 87m to the end of the hole, with the last 4m averaging 8.89g/t .

ASX Announcement

30 August 2019

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Lady Betty lies along the same structural corridor to the south of Seven Leaders. A small number of RC holes into the prospect has defined mineralisation over a strike length of approximately 180m, also open along strike. Significant intersections include:

7m @ 5.91g/t Au from 64m in LBRC013
3m @ 6.62g/t Au from 60m in LBRC007
3m @ 11.90g/t Au from 75m in LBRC008

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FIGURE 6: INTERPRETED GEOLOGY AND MAXIMUM DOWNHOLE AU. (MAP ADAPTED FROM PIONEER NICKEL LTD ANNUAL REPORT 2008, WAMEX A80944).

Anomaly H , on the same structural corridor, sits close to the southern-most limit of effective geochemical coverage, with transported cover increasing in thickness over drainages further south. The anomaly is less well defined, however intersections such as 2m @ 11.50g/t from 114m in WTHC19 indicate potential for further discoveries.

ASX Announcement

30 August 2019

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These three prospects lie along the dominant geochemical anomaly shown in Figure 1, spanning a total distance of over 8km from Seven Leaders in the north to Anomaly H in the south.

The Arsenal Trend is another strong geochemical anomaly on the eastern side of the Whiteheads Project. To date only two fences of RAB holes have tested this area, which will be a high priority for further drill testing.

The Starina Prospect is located west of Lady Betty and Anomaly H. Moderate soil and rock chip sample anomalism remains untested by any drilling.

The effectiveness of soil geochemistry south of Anomaly H needs to be assessed, due to the fact that mineralised trends appear to terminate at the drainage flowing across the tenement from west to east. The combination of deeper soils and alluvial cover in this area may have rendered conventional and auger soil sampling ineffective, so further work is required to test the potential strike extensions of mineralised structures towards the southern boundary of the tenement.

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FIGURE 7: OBLIQUE CROSS-SECTION THROUGH THE SEVEN LEADERS PROSPECT

E: [email protected] ABN 70 611 695 955

ASX Code: GBR Contact: Andrew Paterson, Managing Director P: +61 8 6323 7800 PO Box 1565, Applecross 6953, Western Australia

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Next Steps

Great Boulder intends to test mineralisation along the Seven Leaders – Lady Betty trend with a drilling program as soon as possible.

While preparations for drilling are underway, the Company will continue assessing the historical data set to assess the potential benefits of acquiring any additional new geophysical data, particularly high-resolution magnetics to try and highlight structural controls in the area. The applicability of known mineralisation styles to electrical techniques will also be considered for ongoing target generation.

Regional air-core drilling will be undertaken to test high-priority anomalies either not previously drilled or inadequately tested by prior exploration. This will include targets at the southern end of E27/544 which are possibly hidden beneath alluvial cover.

Given the number of high-priority targets and the project’s location close to Kalgoorlie, Great Boulder intends to advance the project quickly with ongoing field programs over the coming months. Further details will be provided to the market in due course.

Yamarna & Tarmoola Projects

Exploration priorities on the nickel-copper sulphide targets at Tarmoola, Winchester, Yamarna and Mt Carlon remain unchanged subsequent to the June 2019 Quarterly Report.

The Company is in the process of assessing geophysical images from the recent VTEM survey over Mt Carlon, which is expected to result in targets to test with ground-based geophysical surveys (MLEM) and/or air-core drilling.

As detailed in the Quarterly, the Company is also planning follow-up drilling at the Sturt Meadows prospect at Tarmoola to investigate the nickel sulphide intersection in a deep palaeochannel[3] and to test a modelled EM conductor which coincides with a basal ultramafic contact. In addition to this, the next round of drilling is being scheduled for Winchester later in the year.

For further information contact: Andrew Paterson Managing Director Great Boulder Resources Limited [email protected]

Media For further information, please contact: Paul Armstrong Read Corporate +61 8 9388 1474

About Great Boulder Resources

Great Boulder is a mineral exploration company with projects in the Eastern Goldfields region of Western Australia. With a focus on base metals and gold, the Company’s main focus is exploration for copper-nickel-cobalt sulphide mineralisation. With advanced projects including Mt Venn and Winchester in the Yamarna Belt and the backing of a strong technical team, the Company is well positioned for future success.

3 ASX Announcement 8 July 2019: “Nickel sulphides intersected at Tarmoola Project in WA”

E: [email protected] GREATBOULDER.COM.AU ABN 70 611 695 955

ASX Code: GBR Contact: Andrew Paterson, Managing Director P: +61 8 6323 7800 PO Box 1565, Applecross 6953, Western Australia

ASX Announcement

30 August 2019

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FIGURE 8: GREAT BOULDER PROJECTS
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Competent Person’s Statement

Exploration information in this Announcement is based upon work undertaken by Mr Daniel Doran who is a Member of the Australasian Institute of Geoscientists (AIG). Mr Doran 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 Doran is an employee of Great Boulder Resources and consents to the inclusion in the report of the matters based on their information in the form and context in which it appears.

E: [email protected] ABN 70 611 695 955

ASX Code: GBR Contact: Andrew Paterson, Managing Director P: +61 8 6323 7800 PO Box 1565, Applecross 6953, Western Australia

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ASX Announcement

30 August 2019

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Hole ID	Easting	Northing	RL	Depth	Dip	Azimuth	From	To	Interval (m)	Grade (g/t Au)
SL002	374892	6663364	301	43	-60	350	31	34	3	2.69
SL068	374856	6663423	301	110	-60	125 Including	87 106	110 109	23 3	2.90 11.18
SL073	374855	6663359	301	69	-60	45	64	67	3	1.47
SL077	374844	6663348	301	99	-60	45	90	93	3	2.83
SL082	374880	6663389	301	68	-60	45	18	21	3	2.68
SL083	374864	6663373	301	103	-60	45	74	82	8	7.19
WRC009	374886	6663376	301	42	-60	96 Including	18 27	34 32	16 5	2.38 4.28
LBRC007	377405	6658117	300	76	-60	254	60	63	3	6.62
LBRC008	377361	6658076	300	114	-60	13	75	78	3	11.90
LBRC013	377342	6658097	300	90	-60	74	64	71	7	5.91
WTHC19	377687	6656809	400	200	-60	270	114	116	2	11.50

TABLE 1: SELECTED SIGNIFICANT INTERSECTIONS QUOTED IN THE BODY OF THE ANNOUNCEMENT. COLLAR COORDINATES ARE IN GDA94 ZONE 51 PROJECTION.

E: [email protected] ABN 70 611 695 955

ASX Code: GBR Contact: Andrew Paterson, Managing Director P: +61 8 6323 7800 PO Box 1565, Applecross 6953, Western Australia

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Appendix 2 - JORC Code, 2012 Edition Table 1

The following table relates to historical exploration activities undertaken at the Whiteheads’s project. The Whiteheads project has been the focus of numerous exploration programs by various companies during its history. The significant intercepts in drilling quoted above were the result of work undertaken by Gindalbie Gold N.L in 1994-1995, Mt Kersey Mining N.L IN 1997-1998 and Scott Wilson in 2016-2018. The information supplied below has been supplied by Scott Wilson and sourced from Gindalbie Gold’s Combined Annual Report for 1994-1995 (A46415) and Mt Kersey Mining N.L. Annual Report for 1997-1998 (A53983).

Section 1 Sampling Techniques and Data

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

Criteria	Commentary
*Sampling techniques*	Gindalbie Gold: Reverse circulation samples were collected over 1m using a cyclone splitter.
	Prospective zones were sampled over 1m intervals and sent for analysis while visually unprospective
	zones composited over 4m intervals (composite method unknown).
	Mt Kersey: Reverse circulation samples were collected over 1m using a quartered riffle splitter to
	create a 1-2kg sample. Wet samples were grab sampled. Samples were composited to 2m intervals
	using an unknown method.
	Scott Wilson: Reverse Circulation samples were collected over 1m intervals through a rig-mounted
	cyclone splitter. Visually prospective 1m samples were submitted for analysis. Zones thought to be
	potentially mineralized were composited over 4m intervals using a PVC ‘spear’ to take an aliquot of
	each 1m residue contained in green bags at the drill site.
	The sampling techniques used are deemed appropriate for the style of exploration.
*Drilling techniques*	Gindalbie Gold: Drilling was undertaken by Butchart Drilling. Drilling techniques used are unknown
	however it is assumed industry standard Reverse Circulation methods and equipment were utilised.
	Mt Kersey: Details concerning the reverse circulation drilling are unknown.
	Scott Wilson: Drilling was completed by Raglan drilling. Drilling techniques used are unknown
	however it is assumed industry standard Reverse Circulation methods and equipment were utilised.
*Drill sample recovery*	Gindalbie Gold: Sample recovery data is noted in geological comments as part of the logging process
	however comments appear to only note when poor recovery is intersected. Sample condition has
	been logged for every geological interval as part of the logging process.
	Mt Kersey: Data concerning the sample recovery and condition is not available.
	Scott Wilson: Sample recovery and condition information was noted for some drill holes however
	the dataset is incomplete.
	No quantitative twinned drilling analysis has been undertaken.
*Logging*	Gindalbie Gold: Geological logging of drilling followed established company and industry common
	procedures. Qualitative logging of samples included lithology, mineralogy, alteration, veining and
	weathering. Abundant geological comments supplement logged intervals.
	Mt Kersey: Details on logging procedures are not available however supplied data includes lithologies
	and alteration data for drill holes.
	Scott Wilson: Geological logging of drilling was completed over every 1m interval of drilling.
	Qualitative logging of samples included lithology, mineralogy, alteration, veining and weathering.
	Geological comments supplement logged intervals.

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ASX Code: GBR Contact: Andrew Paterson, Managing Director P: +61 8 6323 7800 PO Box 1565, Applecross 6953, Western Australia

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*Sub-sampling techniques*	Gindalbie Gold: 1m cyclone splits and 4m composite samples were taken in the field. No details on
*and sample preparation*	sample preparation methods are available however samples were processed at Minlab
	Laboratories in Kalgoorlie and it is probable that industry standard methods were utilised. Samples
	were analysed for Au using the Aqua Regia digest with AAS finish method.
	Mt Kersey: A 1-2kg sub sample representing a composite of 2m was taken in the field. Samples
	were oven dried then pulverized to a nominal -75 microns. A 40 gram aliquot was utilized for
	analysis. Samples were subject to a Aqua Regia acid digest with select repeat analysis, for Au, Cu,
	Zn, Ni and Co . Sample preparation and analysis was undertaken at Analabs Kalgoorlie branch.
	Scott Wilson: 1m cyclone splits and 4m composite samples were taken in the field. Samples were
	prepared and analysed at Genalysis Assay Laboratories Kalgoorlie. Samples were pulverized so that
	each samples had a nominal 85% passing 75 microns. Au analysis was undertaken using FA50/OE
	involving 50g lead collection fire assay and Inductively Coupled Plasma Optical Emission
	Spectrometry (ICP-OES) finish.
	Sample collection, size and analytical methods are deemed appropriate for the style of exploration.
*Quality of assay data*	Gindalbie Gold: All samples were assayed by industry standard methods through commercial
*and laboratory tests*	laboratories in Australia. Typical analysis methods are detailed in the previous section and are
	consider ‘near total’ values. No information can be found relating to use of Certified Reference
	Materials, ‘blank’ material or field duplicates. Check assaying was undertaken at Genalysis
	Laboratories, Malaga.
	Mt Kersey: All samples were assayed by industry standard methods through commercial laboratories
	in Australia. Typical analysis methods are detailed in the previous section and are consider ‘near total’
	values. No data concerning the use of Certified Reference Material, ‘blanks’, field duplicates, umpire
	checks or laboratory checks is available.
	Scott Wilson: All samples were assayed by industry standard methods through commercial
	laboratories in Australia. Nuggetty coarse gold was suspected during drilling and a series of Leachwell
	tests were completed to evaluate for this. These tests have shown that significant nuggety gold is
	present within the Lady betty results. As such the results from FA reported above may be
	underrepresenting true gold distribution. Further testing is needed to confirm this. No Certified
	Reference Material, ‘blanks’, field duplicates were inserted during drilling. Internal lab checks passed
	QAQC protocols.
*Verification of sampling*	No verification of sampling and assaying, apart from routine checking of digital data, has been
*and assaying*	undertaken as yet by Great Boulder Resources. No twinned drilling has been undertaken.
	Gindalbie Gold: Drill collars were picked up in the Seven Leaders local grid by Byrne Surveys of
	Kalgoorlie and have since been converted to MGA94 Zone 51 coordinates. Conversion factors are
	provided in the annual report for verification.
	Mt Kersey: No information on the how drillhole collars were located Is provided however coordinates
	are provided in AMG zone 51 grid.
	Scott Wilson: Drill hole collar locations were recorded using a handheld Garmin GPS. All co-ordinates
	are recorded in GDA94 Zone 51 co-ordinates. The dip and line of each hole was established using a
	handheld sighting compass and a rig mounted clinometer. The dip of each hole was measured at
	various depths down the hole inside the rods using a down hole camera. The azimuth at the bottom
	of each hole was assumed.
*Data spacing and*	The spacing and location of the majority of the drilling in the projects is, by the nature of early
*distribution*	exploration, variable.
	The spacing and location of data is currently only being considered for exploration purposes.

ASX Code: GBR Contact: Andrew Paterson, Managing Director E: [email protected] P: +61 8 6323 7800 PO Box 1565, Applecross 6953, Western Australia ABN 70 611 695 955

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*Orientation of data in*	Drilling is dominantly perpendicular to regional geological trends where interpreted and practical.
*relation to geological*	True width and orientation of intersected mineralisation is currently unknown or not clear. Hole
*structure*	LBRC008 was drilled obliquely to the strike of mineralisation to test a possible differing orientation
	to the mineralisation.
	The spacing and location of the data is currently only being considered for exploration purposes.
*Sample security*	No details on the sample security of any of the drill phases can be ascertained at this stage.
*Audits or reviews*	None completed.

Section 2 Reporting of Exploration Results

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

Criteria	Commentary
*Mineral tenement and*	The project is located between 45 and 70km north-northwest of Kalgoorlie on the Yarri Road. The
*land tenure status*	tenement package is comprised of one active Exploration License and two EL applications. The
	granted tenement E27/544 covers an area of approximately 185km2including up to 15km of strike
	on a number of potential mineralized trends. Tenement applications E24/588 and E27/622 cover an
	additional 22 and 10 graticular blocks respectively. Once granted, these tenements will add
	approximately 49km2to the project area.
	Exploration tenement E27/544 extents currently surround two prospecting leases held by Scott
	Wilson, P27/2013 and P27/2213, that are currently under application to be amalgamated into the
	larger exploration tenement and therefore included in the option agreement.
*Exploration done by*	The Whiteheads project area has been the focus of exploration efforts dating back to the 1960’s. The
*other parties*	bulk of the earlier exploration efforts were focussed on the nickel potential of the region following
	discoveries at the Black Swan, Silver Swan and Carr Boyd deposits. Various exploration campaigns by
	multiple companies utilising differing methods have been undertaken for nickel, VMS and gold
	targets. The differing exploration and analysis techniques has resulted in a patchwork of exploration
	datasets that are not easily comparable.
	Small-scale historical gold workings are present within the tenure that have a protracted history of
	mining. Publicly available data for these deposits indicate selective mining of high-grade gold veins.
*Geology*	The Whiteheads Project lies proximal to the interpreted boundary between the Archean Kalgoorlie
	and Kurnalpi Terranes of the Eastern Goldfields Superterrane. This boundary also marks the
	separation of the Boorora (Kalgoorlie Terrane) and Gindalbie (Kurnalpi Terrane) Domains based on
	volcanic facies relationships. This boundary is marked by a zone of faulting and shearing historically
	called by various names including the Mt Monger (Swager and Griffin 1994) and Ockerburry Fault
	(Blewitt and Hitchman 2006). The Boorora Domain is dominated by mafic and ultramafic lithofacies
	with minor sediments and felsic volcanics. The Gindalbie Domain contains a significant package of
	bimodal volcanics, sedimentary units and lesser ultramafic lithologies. 3 separate greenstone
	succession have been recognized within the Gindalbie Domain, with the uppermost bi-modal
	formation the only one present within the project area. The above successions have experienced at
	least 4 phases of deformation and display mid-greenschist facies metamorphism.
	The project area contains a significant amount of transported cover consisting of colluvium, sand
	plains and laterite. Tertiary aged paleochannels transect the project area. Tertiary duricrust
	comprises insitu lateritic duricrust to colluvium products derived from insitu material.
	Several historic workings are located within the project area including the historic Whitehead Find,
	Patches, Seven Leaders, Lady Betty and Jewellery Box gold workings along with widespread shallow
	workings. Gold mineralisation is related to extensive shearing and quartz veining along lithological
	contacts. The Whiteheads Project is located directly along strike to the north of KalNorth Gold Mines
	Limited’s Lindsay Gold project. No definitive nickel mineralisation has been identified to date within

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ASX Code: GBR Contact: Andrew Paterson, Managing Director P: +61 8 6323 7800 PO Box 1565, Applecross 6953, Western Australia

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	the project area however the Black Swan, Silver Swan and Carr-Boyd Nickel deposits are all located
	within the region and the project remains prospective for further nickel discoveries.
*Drill hole Information*	A list of the drill hole coordinates, orientations and metrics are provided as an appended table.
*Data aggregation*	No grade truncations were applied to these exploration results.
*methods*
	No weighted average techniques are applied to reported intervals
	No metal equivalents are used.
*Relationship between*	The orientation of structures and mineralisation is not known with certainty, but majority of the
*mineralisation widths*	drilling drilling was conducted using appropriate perpendicular orientations for interpreted
*and intercept lengths*	mineralisation. LBRC008 was drilled oblique to the interpreted trend of mineralisation and therefore
	the width of this intercept is larger than true width.
	A list of the drill holes and orientations is provided as an appended table.
*Diagrams*	Refer to figures in announcement.
*Balanced reporting*	It is not practical to report all historical exploration results from the Whiteheads project. Selected
	historical intercepts have been re-reported by GBR to highlight the prospectivity of the region. Full
	drillhole details can be found in publicly available historical annual reports.
*Other substantive*	Exploration undertaken on the Whiteheads Project between 2015-present was by private company
*exploration data*	Zebina Minerals Pty Ltd and Kalgoorlie based prospectors. Two phases of RC drilling were undertaken
	at the Lady Betty deposit leading to mineralised intersections including those listed above.
*Further work*	Further work is discussed in the document in relation to the exploration results.

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ASX Code: GBR Contact: Andrew Paterson, Managing Director P: +61 8 6323 7800 PO Box 1565, Applecross 6953, Western Australia

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AI assistant

GREAT BOULDER RESOURCES LIMITED Capital/Financing Update 2019

64967_rns_2019-08-29_33f90de0-c218-4aff-90d5-5d13c873c0bb.pdf

Acquisition of Whiteheads Gold Pr near Kal rlie oject goo

Highlights

Acquisition Summary

Whiteheads Gold Project – location & tenure

Geological Setting

Work by Previous Explorers

Exploration Upside

Next Steps

Yamarna & Tarmoola Projects

About Great Boulder Resources

Competent Person’s Statement

Appendix 2 - 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 2019

64967_rns_2019-08-29_33f90de0-c218-4aff-90d5-5d13c873c0bb.pdf

Acquisition of Whiteheads Gold Pr near Kal rlie oject goo

Highlights

Acquisition Summary

Whiteheads Gold Project – location & tenure

Geological Setting

Work by Previous Explorers

Exploration Upside

Next Steps

Yamarna & Tarmoola Projects

About Great Boulder Resources

Competent Person’s Statement

Appendix 2 - JORC Code, 2012 Edition Table 1

Section 1 Sampling Techniques and Data

Section 2 Reporting of Exploration Results

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