GREAT SOUTHERN MINING LIMITED — Capital/Financing Update 2020

Mar 9, 2020

Information Technology Solutions

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Strategic application for tenement expands Cox’s Find Gold Project

ASX ANNOUCEMENT 10 March 2020

Great Southern Mining Limited (the “Company”) is pleased to announce it has applied for a highly strategic tenement, E38/3476, which considerably adds prospective tenure and potential infrastructure space to the Company's 100% owned Cox’s Find Gold Project near Laverton, Western Australia.

BOARD OF DIRECTORS

Executive Chairman John Terpu

Non-Executive Director Kathleen Bozanic

Non-Executive Director Andrew Caruso

COMPANY SECRETARY Mark Petricevic

Executive Chairman John Terpu commented:

“We are constantly looking for opportunities to add to the Company’s quality project portfolio. This highly strategic tenement will allow us to expand exploration programs along strike at the Cox’s Find Gold Project and provide potential infrastructure space for the future. Following the success of the maiden drilling program we are excited to add this prospective tenure to the Project and look forward to continuing the development of one of the highest, if not the highest, grading deposits along strike.

The Exploration License application will now proceed to the statutory processes prior to grant.*

This announcement has been approved for release by the Board of Great Southern Mining Limited.

For further information:

John Terpu Executive Chairman

+61 8 9240 4111 or admin@gsml.com.au

ASX: GSN

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CONTACT DETAILS

Registered Office and Postal Address Suite 4, 213 Balcatta Rd BALCATTA WA 6021 Phone: 61 8 9240 4111 Fax: 61 8 9240 4054

Website

www.gsml.com.au

• Noting the tenement is in application, as priority applicant, the Directors are not aware of any reason why the tenement would not be granted to the Company.

GREAT SOUTHERN MINING LIMITED | ABN 37 148 168 825

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ROSEMONT MINE
OP: 694 koz @ 1.2g/t Au
UG: 230 koz @ 5.1 g/t Au
10km
GARDEN WELL MINE
OP: 1,787 koz
@ 0.81 g/t Au
TOOHEYS WELL
OP: 633 koz
@ 1.16 g/t Au
E38/3476
M38/740
M38/170
Figure 1: Location of Cox’s Find Gold Project in relation to operating mills
and additional exploration licence application (E38/3476)
M38/578
Existing Pit
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GREAT SOUTHERN MINING LIMITED | ABN 37 148 168 825

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BACKGROUND

The Cox’s Find Gold Project (Cox’s Find) is a shear hosted Archaean orogenic gold deposit located in the Duketon Greenstone Belt, located along strike from, and within 12kms of, Regis multi-million-ounce Garden Well. The mine was operated by Western Mining Corporation’s (WMC) for a short period between 1937 and 1942 producing approximately 77,000 ounces of gold at a reported head grade of ~22 g/t from a narrow vein stope operation.

Limited exploration has been conducted on the project since the cessation of mining activities in the early 1940’s. A preliminary review of the project identified the excellent potential for the Cox’s Find Mine to host high-grade remnant mineralisation adjacent the current workings and also high-grade ore beyond the current workings.

In late 2019, GSN completed a small maiden RC drilling program of 17 Reverse Circulation (RC) holes for 2,658m. Results are shown in ASX press releases dated 26 November 2019, 4 December 2019, and 19 December 2019.

Consistency of vein width and exceptionally high-grade continuity at Cox’s Find is implied by the historic production figures that supported profitable high-grade production throughout the mine life.

ABOUT GREAT SOUTHERN MINING LIMITED

Great Southern Mining Limited is a Western Australian based Company listed on the ASX. Its aim is to become a leading gold exploration Company in Australia. With significant land holdings in the world-renowned gold districts of Laverton in Western Australia and the Mt Carlton Region of North Queensland, all projects are located within 25km of operating gold mills and major operations.

The Company’s focus is on creating and capturing shareholder wealth through efficient exploration programs and strategic acquisitions of projects that complement the Company’s existing portfolio of quality assets.

For further information regarding Great Southern Mining Limited please visit the ASX platform (ASX: GSN) or the Company’s website www.gsml.com.au.

GREAT SOUTHERN MINING LIMITED | ABN 37 148 168 825