GREAT BOULDER RESOURCES LIMITED — Capital/Financing Update 2020

Nov 12, 2020

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GBR joins Portable PPB Pty Ltd as a sponsor, providing access to innovative cost saving exploration technology

• Portable PPB Pty Ltd are commercialising detectORE™ technology for detection of low-level gold using hand-held XRF

• Great Boulder has joined Portable ppb as a Silver sponsor

• The sponsorship provides GBR with priority access to the DetectORE™ technology, potentially providing major time and cost savings for early-stage field exploration

Great Boulder Resources [ASX: GBR] is pleased to announce that it has entered into a sponsorship agreement with Portable ppb Pty Ltd (PPPB) which will allow the Company to access PPPB’s detectORE™ technology in its field exploration programs.

detectORE™, invented by Dr Mel Lintern at CSIRO, is a patented technology which enables handheld pXRF guns to detect gold values to less than 10ppb (parts per billion) in near real time field samples. This represents a massive potential gain in terms of time and expense, by speeding up the assay time from many weeks in a commercial laboratory to an overnight process in the field.

To put this into context, current pXRF technology cannot detect gold in concentrations of less than 1,000ppb (1g/t Au). Gold-in-soil anomalies in Western Australia tend to be in the range of 10 to 50ppb.

Using detectORE™ will enable GBR to quickly vector in on anomalous prospects, defining areas of interest with multiple rounds of soil geochemistry within a matter of days instead of months. There is also potential for the technology to be used on composited and individual drill samples to reduce the volume and time involved with sending samples to Perth for gold and costly multi-element analysis. Importantly, this will enable our geologists to receive quick feedback while drill rigs are on site and therefore make timely informed decisions on where to drill next.

detectORE™ is in the advanced research and development stage and not yet available for general commercial use. By partnering with PPPB as a sponsor GBR will be able to participate in field trials and ongoing development of the technology, gaining pre-competitive access and resultant savings.

“This sponsorship is very much in line with GBR’s philosophy of using new technologies to explore more efficiently wherever possible” commented Great Boulder’s Managing Director Andrew Paterson.

“I’m looking forward to working with Simon Bolster and his team at Portable ppb. This will be a stepchange in our early-stage exploration, particularly in areas like Side Well where we have big areas of unexplored terrain to cover”.

ASX Code: GBR Contact: Andrew Paterson, Managing Director E: admin@greatboulder.com.au GREATBOULDER.COM.AU P: +61 8 9321 6037 PO Box 677, West Perth 6872, Western Australia ABN 70 611 695 955

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About Portable ppb Pty Ltd

PPPB was established in 2017 and later secured an exclusive global licence from the CSIRO to commercialise the detectORE™ technology invented by Dr Mel Lintern. Chaired by Peter Williams, Managing Director Simon Bolster and Chief Technical Officer Dr Mel Lintern PPPB have conducted extensive field trials using a broad range of exploration samples from Australia and from around the globe to develop a process for in-field gold analyses using a simple, safe, robust and reliable process coupled with conventional off-the-shelf portable XRF …

More information about detectORE™ can be viewed here: https://research.csiro.au/detectore/detectore/product/ and www.portableppb.com

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FIGURE 1: PXRF ANALYSIS ALLOWS GEOLOGISTS TO ANALYSE SAMPLE GEOCHEMISTRY IN THE FIELD. (SOURCE: WWW.OLYMPUS-IMS.COM)

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FIGURE 2: USING DETECTORE™ WILL ENABLE GBR TO IDENTIFY AND INFILL SURFACE GOLD ANOMALIES IN A SINGLE SAMPLING PROGRAM. (SOURCE: WWW.PORTABLEPPB.COM)

E: admin@greatboulder.com.au ABN 70 611 695 955

ASX Code: GBR Contact: Andrew Paterson, Managing Director P: +61 8 9321 6037 PO Box 677, West Perth 6872, Western Australia

GREATBOULDER.COM.AU

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About Great Boulder Resources

Great Boulder is a mineral exploration company with projects in the Yilgarn region of Western Australia. With a focus on base metals and gold, the Company has a range of projects from greenfields through to advanced exploration. With advanced copper-nickel-cobalt projects including Mt Venn and Winchester, and the Whiteheads and Side Well gold projects plus the backing of a strong technical team, the Company is well positioned for future success.

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FIGURE 3: GREAT BOULDER PROJECT LOCATIONS

Competent Person’s Statement

Exploration information in this Announcement is based upon work undertaken by Mr Andrew Paterson who is a Member of the Australasian Institute of Geoscientists (AIG). Mr Paterson 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 Paterson 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.

ASX Code: GBR Contact: Andrew Paterson, Managing Director E: admin@greatboulder.com.au GREATBOULDER.COM.AU P: +61 8 9321 6037 PO Box 677, West Perth 6872, Western Australia ABN 70 611 695 955