GREAT BOULDER RESOURCES LIMITED — Capital/Financing Update 2021

Mar 17, 2021

==> picture [595 x 129] intentionally omitted <==

----- Start of picture text -----

ASX Announcement
18 March 2021
----- End of picture text -----

DRILLING TO RECOMMENCE AT BLUE POLES

HIGHLIGHTS

• RC drill rig secured and mobilising to Whiteheads next week to complete a 2,000m infill and extensional program at the Blue Poles Gold Discovery, where:

• Maiden RC drilling defined gold mineralisation over a 700m strike length and intersected broad zones of mineralisation including 52m @ 1.02g/t Au from 28m to end of hole (20BPRC006); and

o Gold mineralisation remains open at depth and to the south

• Post completion of drilling at Blue Poles, a 4,000m RC campaign will commence at the Side Well Gold Project in Meekatharra aiming to follow up significant drilling results, and target primary gold zones and strike extensions

• Further air-core drilling is scheduled for the Arsenal Trend at Whiteheads in April



Great Boulder Resources (“ Great Boulder ” or the “ Company ”) (ASX: GBR ) is pleased to provide an update on exploration activities at its Whiteheads Gold / Nickel Project ( Whiteheads ) located in Kalgoorlie and Side Well Gold Project ( Side Well ) located in Meekatharra.

An RC rig will mobilise to Whiteheads next week to commence a 2,000m program of infill and extensional holes at the Blue Poles gold discovery. Drilling at Blue Poles in November 2020 defined broad zones of primary gold mineralisation over a 700m strike, open to the south and at depth[1] . The current drill program will aim to infill this area and test extensions to the south.

On completion of the Blue Poles drilling the same rig and field team will move to Side Well to complete a 4,000m program at Mulga Bill. This drilling will test mineralised trends beneath the supergene zone previously defined by two campaigns of air-core drilling.

Managing Director Andrew Paterson commented:

“We are excited to have an RC rig on the way, as rig availability is one of the key bottlenecks for exploration in WA at present. Great Boulder is looking forward to seeing how Blue Poles evolves with this next round of drilling.”

“We will also be drilling 4,000m at the Mulga Bill prospect at Side Well, testing the interpreted trends of primary gold mineralisation in the basement. The previous two AC programs have provided

1 ASX Announcement 18/1/2021: “Thick zones of gold mineralisation at Blue Poles”

E: admin@greatboulder.com.au GREATBOULDER.COM.AU ABN 70 611 695 955 Twitter: @GreatBoulder

ASX Code: GBR Contact: Andrew Paterson, Managing Director P: +61 8 9321 6037 Level 1, 51 Colin St West Perth WA 6005

ASX Announcement

2

18 March 2021

==> picture [48 x 57] intentionally omitted <==

==> picture [48 x 57] intentionally omitted <==

extensive bottom-of-hole data for gold and pathfinder elements that we are leveraging to map these trends. It’s going to a busy couple of months and we expect a strong period of news flow as a result.”

GBR Entitlement Issue

The entitlement issue which is currently underway is intended to raise an additional $1.45 million (before costs) at a price of $0.035. This offer will close this Friday, March 19 2021.

Any shareholders who wish to take up their share entitlement are reminded to do so by the close of business on Friday. Entitlement forms can be downloaded from the GBR share registry at www.automicgroup.com.au.

This announcement has been approved by the Great Boulder Board.

For further information contact:

Andrew Paterson

Managing Director Great Boulder Resources Limited admin@greatboulder.com.au

TABLE 1: GREAT BOULDER FIELD PROGRAM FOR H1 2021

		Q1-CY2021	Q1-CY2021		Q2-CY2021	Q2-CY2021
	Jan	Feb	Mar	Apr	May	Jun
Side WellMeekatharra
AC Drilling
RC Drilling
Auger Geochem
Whiteheads Kalgoorlie
RC Drilling
AC Drilling
Auger / detectORE
Geophysics / Target
Generation

E: admin@greatboulder.com.au GREATBOULDER.COM.AU ABN 70 611 695 955 Twitter: @GreatBoulder

ASX Code: GBR Contact: Andrew Paterson, Managing Director P: +61 8 9321 6037 Level 1, 51 Colin St West Perth WA 6005

ASX Announcement

3

18 March 2021

==> picture [48 x 57] intentionally omitted <==

==> picture [48 x 57] intentionally omitted <==

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.

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 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 gold project plus the backing of a strong technical team, the Company is well positioned for future success.

==> picture [317 x 384] intentionally omitted <==

FIGURE 1: GREAT BOULDER’S PROJECTS

E: admin@greatboulder.com.au GREATBOULDER.COM.AU ABN 70 611 695 955 Twitter: @GreatBoulder

ASX Code: GBR Contact: Andrew Paterson, Managing Director P: +61 8 9321 6037 Level 1, 51 Colin St West Perth WA 6005