GREAT BOULDER RESOURCES LIMITED — Capital/Financing Update 2022

Jun 30, 2022

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ASX Announcement
1 JULY 2022
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RC DRILLING UNDERWAY AT SIDE WELL

HIGHLIGHTS

• RC drilling has recommenced at the Side Well Gold Project

• Priority targets include the southern end of Mulga Bill - where AC drilling in 2021 intersected 23.78g/t Au at EOH - and the new Ironbark discovery east of Loaded Dog

• Drilling will continue for the remainder of the year

Great Boulder Resources (“ Great Boulder ” or the “ Company ”) (ASX: GBR ) is pleased to provide an update on exploration activity at the Side Well Gold Project (“ Side Well ”) in Western Australia.

RC drilling has recommenced at the southern end of Mulga Bill where AC drilling in late 2021 intersected an end-of-hole sample grading 23.78g/t Au[1] . This area remains completely untested by RC drilling.

The rig will also complete a second phase of RC drilling at the new Ironbark discovery, with extensional holes planned to test the strike extent of recent high-grade intersections announced earlier in June.

Drilling is expected to continue for the remainder of the year as part of Great Boulder’s strategy to advance the Mulga Bill deposit towards a maiden Mineral Resource estimate as quickly as possible.

Great Boulder’s Managing Director, Andrew Paterson commented:

“I’m very happy to have Challenge Drilling back on site and on schedule, and also very excited to finally be drilling deeper holes into this southern-most target on the Mulga Bill – Loaded Dog trend.”

“We’ll also complete a second round of RC drilling at Ironbark within the fortnight, where we are looking to test strike extensions and continuity of the high-grade gold mineralisation we intersected in our previous drilling.”

“We’re continuing to design more holes along the 6km extent of Mulga Bill to keep this rig on site for the remainder of the year and into 2023. This is an important phase of our exploration program for Side Well, and shareholders will now see a steady flow of updates through the rest of the year.”

“In related news, I’m happy to note that Great Boulder has been able to attract some excellent new employees in an extremely competitive market and we will soon have a full team of geologists and field technicians at Side Well sufficient to safely run big drilling programs.”

1 GBR:ASX announcement 16 Feb 2021: High-grade intersection extends Mulga Bill to 6km strike

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

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

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1 JULY 2022

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FIGURE 1: RC DRILLING UNDERWAY AT MULGA BILL 30/6/2022. PHOTO CREDIT: TAMMY DENNIS.

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 www.greatboulder.com.au

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Follow GBR on LinkedIn

Media

Lucas Robinson Corporate Storytime +61 408 228 889 lucas@corporatestorytime.com

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Follow GBR on Twitter

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

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

1 JULY 2022

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FIGURE 2: PENDING AC HOLES AND PLANNED RC DRILLING AT SIDE WELL.

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

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

GREATBOULDER.COM.AU

ASX Announcement 1 JULY 2022

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FIGURE 3: SIDE WELL PROJECT LOCATION PLAN.

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

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

GREATBOULDER.COM.AU

ASX Announcement

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About Great Boulder Resources

Great Boulder is a mineral exploration company with a portfolio of highly prospective gold and base metals assets ranging from greenfields through to advanced exploration located in Western Australia. The Company’s core focus is advancing the Whiteheads and Side Well gold projects while progressing initial exploration at the earlier stage Wellington Base Metal Project located in an emerging MVT province. With a portfolio of highly prospective assets plus the backing of a strong technical team, the Company is well positioned for future success.

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FIGURE 4: GREAT BOULDER’S PROJECTS

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.

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

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