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GREENWING RESOURCES LTD Capital/Financing Update 2025

Feb 25, 2025

65029_rns_2025-02-25_f83f046d-d144-430a-889a-d0bf9d7cde72.pdf

Capital/Financing Update

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www.greenwingresources.com

ASX Announcement – 26 February 2025

Andapa Graphite Project – Auger Program Update

Greenwing Resources Ltd (‘Greenwing’ or the ‘Company’) (ASX:GW1) is pleased to provide an update on its Andapa Graphite Project in Madagascar.

Greenwing has recently completed and compiled the results of its auger drilling program at the 100% owned Andapa Graphite Project in Madagascar located 60km from the country’s only deep-water port at Tamatave and on a granted mining lease.

HIGHLIGHTS

  • Completion of 464 auger holes totalling 4,027 metres showing shallow regolith-hosted (weathered) graphite (Saprolite) mineralisation typical and providing a platform for a comprehensive follow up conventional drill program.

  • Saprolite mineralisation prolific in Madagascar allowing for easier processing of softer ore body and typically greater preservation of Graphite Flake size.

  • Continuous graphite mineralisation confirmed across two graphitic units over a strike distance of 1.2 km & 2.2 km and with mineralisation directly adjacent to the operating Antsirabe Graphite Mine

  • Andapa is located in proximity to the Graphmada Large Flake Graphite Mine and is close to the country’s only deepwater port at Tamatave.

  • Auger sample results returned weighted averages of up to:

  • 4.81% FC over 9.0 m ( including 5.54% FC over 7.0 m ),

  • 4.39% FC over 11.0 m ( including 5.18% FC over 6.0 m ),

  • 4.13% FC over 12.0 metres ( including 5.33% FC over 8.5 m

  • 3.84% FC over 11.5 m ( including 4.57% FC over 4.0 m ),

  • 3.57% FC over 12.0 m ( including 4.10% FC over 8.0 m ),

EXECUTIVE DIRECTOR / CEO, PETER WRIGHT:

These results show the consistent presence of Graphite across two mineralised units at shallow depth. Greenwing will continue to progress the project given the existing mining lease, proximity to Graphmada and relatively short haul to port. These results are highly encouraging with shallow augering identifying significant graphite mineralisation at Unit 1 & Unit 2 of the Andapa Graphite Project, which is adjacent to an operating graphite mine. This augering program has completed the first pass across the whole permit targeting the historically identified graphitic strikes at Unit 1, Unit 2 and Unit 3.

The Company looks forward to updating the market further in the coming weeks as to its broader portfolio of assets in Madagascar and the implementation of the countries new Mining Code.

ASX:GW1 | greenwingresources.com Greenwing Resources Ltd ABN 31 109 933 995

PROJECT LOCATION AND EXPLORATION LICENSES

The Andapa Graphite Project is on a granted 40-year mining permit (PE 24730) in Madagascar. The Andapa Graphite Project is ~60km closer to the deep-water port at Tamatave than the Graphmada Mine and along strike from the adjacent operating Antsirabe Graphite Mine.

ENVIRONMENT

Prior to commencing the auger sampling program, consultation was completed with the local community at Andapa, and an Environment Impact Statement (EIS) was approved by the relevant regulatory authority (ONE).

==> picture [300 x 469] intentionally omitted <==

Figure 1: Andapa Graphite Project location within Madagascar

ASX:GW1 | greenwingresources.com Greenwing Resources Ltd ABN 31 109 933 995

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EXPLORATION STRATEGY AT ANDAPA

Systematic exploration activities in 2017 confirmed that Andapa contains widespread mineralisation at Unit 1, which appeared to be open ended and therefore was the starting point for Greenwing’s auger program. In addition to Unit 1, there are two parallel striking graphitic units (Units 2 & 3), located in the centre and southwest of the permit, which had surface sampling conducted in 2017 requiring further exploration via the auger sampling program.

AUGER SAMPLING PROGRAM

A total of 21 planned auger lines across three historical graphite units (1, 2 & 3) were completed with a line spacing of approx. 200 m and auger spacing of approx. 20 m (where possible) as per map (Figure 2) below.

==> picture [488 x 346] intentionally omitted <==

Figure 2: GW1 Andapa auger locations.

ASX:GW1 | greenwingresources.com Greenwing Resources Ltd ABN 31 109 933 995

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AUGER RESULTS

A total of 464 auger holes (GW1A0215 to GW1A0677) were completed at Andapa between October 2023 & October 2024. This resulted in 4,027 metres augered with depths ranging between 1.0 and 12.0m (average of 8.6 m). Samples were prepared and analysed by Greenwing’s Graphmada Mine laboratory facility for Fixed Carbon (FC) using the Muffle Furnace method.

Auger collar locations can be viewed in Appendix 2.

The FC weighted averages can be viewed in Appendix 3.

Auger cross sections can be viewed in Appendix 4.

The augering program has confirmed continuous regolith-hosted (weathered) graphitic mineralisation (green shading) at the north-eastern graphite Unit 1 and central graphite Unit 2 as per map (Figure 3) below.

==> picture [488 x 346] intentionally omitted <==

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

Unit 1
Unit 2
Unit 3
----- End of picture text -----

Figure 3: GW1 Andapa auger results and mineralisation.

ASX:GW1 | greenwingresources.com Greenwing Resources Ltd ABN 31 109 933 995

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Auger holes completed across the north-eastern historical graphite Unit 1 has confirmed:

  • the continuation of the graphite mineralisation zones as identified in 2017,

  • a mineralisation zone occurring over a strike distance of approx. 1.2km,

  • mineralisation zone widths varying between 50m and 250m,

  • weighted averages up to 4.81% FC over 9m (incl. 5.54% FC over 7m) shown in cross section (Figure 4).

==> picture [488 x 245] intentionally omitted <==

Figure 4: Unit 1 Section GW1A0249 - GW1A0240

Auger holes completed across the central historical graphite Unit 2 confirmed:

  • a graphite mineralisation zone over a strike distance of approx. 2.2 km,

  • mineralisation zone widths varying between 50m and 100m,

  • weighted averages up to 3.22% FC over 10.5m (incl. 4% FC over 1m) shown in cross section (Figure 5).

ASX:GW1 | greenwingresources.com Greenwing Resources Ltd ABN 31 109 933 995

5

==> picture [488 x 251] intentionally omitted <==

Figure 5: Unit 2 Section GW1A0566 - GW1A0560

Auger holes completed across the south-western historical graphite Unit 3 :

  • Did not confirm any continuous graphite mineralisation zone over strike,

  • Showed sporadic mineralisation intersected with auger sample results returned weighted averages up to 1.3% FC over 11m (incl. 2.46% Fc over 3m).

This announcement is approved for release by the Board of Greenwing Resources Ltd

For further information please contact

Peter Wright

Executive Director/CEO

E. [email protected]

ABOUT GREENWING RESOURCES

Greenwing Resources Limited ( ASX:GW1 ) is an Australian-based critical minerals exploration and development company committed to sourcing metals and minerals required for a cleaner future. With lithium and graphite projects across Madagascar and Argentina, Greenwing plans to supply electrification markets, while researching and developing advanced materials and products.

ASX:GW1 | greenwingresources.com Greenwing Resources Ltd ABN 31 109 933 995

6

Disclaimer

This document has been prepared by Greenwing Resources Ltd (the “Company”). It should not be considered as an invitation or offer to subscribe for or purchase any securities in the Company or as an inducement to make an invitation or offer with respect to those securities. No agreement to subscribe for securities in the Company will be entered into based on this document.

This document is provided on the basis that neither the Company nor its officers, shareholders, related bodies corporate, partners, affiliates, employees, representatives, and advisers make any representation or warranty (express or implied) as to the accuracy, reliability, relevance, or completeness of the material contained in the document and nothing contained in the document is or may be relied upon as a promise, representation or warranty, whether as to the past or the future. The Company hereby excludes all warranties that can be excluded by law.

Forward-Looking Statements

This announcement contains certain forward-looking statements within the meaning of the securities laws of applicable jurisdictions. Forward-looking statements can generally be identified using forwardlooking words such as ‘may,’ ‘should,’ ‘expect,’ ‘anticipate,’ ‘estimate,’ ‘scheduled’ or ‘continue’ or the negative version of them or comparable terminology.

Any forecasts or other forward-looking statements contained in this announcement are subject to known and unknown risks and uncertainties and may involve significant elements of subjective judgment and assumptions as to future events which may or may not be correct. There are usually differences between forecast and actual results because events and actual circumstances frequently do not occur as forecast and these differences may be material.

Greenwing Resources does not give any representation, assurance, or guarantee that the occurrence of the events expressed or implied in any forward-looking statements in this announcement will occur and you are cautioned not to place undue reliance on forward-looking statements. The information in this document does not consider the objectives, financial situation, or particular needs of any person. Nothing contained in this document constitutes investment, legal, tax, or other advice.

Important information

This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal. The securities referred to in this document have not been and will not be registered under the United States Securities Act of 1933 (the ‘US Securities Act’), or under the securities laws of any state or other jurisdiction of the United States and may not be offered or sold, directly or indirectly, within the United States, unless the securities have been registered under the US Securities Act or an exemption from the registration requirements of the US Securities Act is available. This document may not be distributed or released in the United States.

Glossary

FC = Fixed Carbon

ASX:GW1 | greenwingresources.com Greenwing Resources Ltd ABN 31 109 933 995

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Competent Person Statement

The information in this statement that relates to Exploration Targets and Exploration Results is based on information compiled by Mr Jannie Leeuwner – BSc (Hons) Pr.Sci.Nat. MGSSA and is a full-time employee of Vato Consulting LLC. Mr. Leeuwner is a registered Professional Natural Scientist (Pr.Sci.Nat. - 400155/13) with the South African Council for Natural Scientific Professions (SACNASP). Mr. Leeuwner has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (JORC Code). Mr. Leeuwner consents to the inclusion of the information in this release in the form and context in which it appears.

ASX:GW1 | greenwingresources.com Greenwing Resources Ltd ABN 31 109 933 995

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APPENDIX 1: JORC Code, 2012 Edition - Table 1

Discussion and results within this appendix relate to the Greenwing Resources Limited – Andapa Project, Madagascar

Section 1 - Sampling Techniques and Data

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

Criteria JORC Code explanation Commentary
Sampling
techniques		 •
Nature and quality of sampling
(eg. cut channels, random chips,
or specific specialised industry
standard
measurement
tools
appropriate to the minerals under
investigation, such as down hole
gamma sounds, or handheld XRF
instruments, etc.). These examples
should not be taken as limiting the
broad meaning of sampling
•
Include reference to measures
taken
to
ensure
sample
representivity
and
the
appropriate calibration of any
measurement tools or systems
used.
•
Aspects of the determination of
mineralisation that are Material to
the Public Report. In cases where
‘industry standard’ work has been
done this would be relatively
simple (eg ‘reverse circulation
drilling was used to obtain 1 m
samples from which 3 kg was
pulverised to produce a 30 g
charge for fire assay’). In other
cases more explanation may be
required, such as where there is
coarse gold that has inherent
sampling
problems.
Unusual
commodities
or
mineralisation
types (eg submarine nodules)
may
warrant
disclosure
of
detailed information.		 •
Auger samples were collected and included
sample material of the graphite bearing host
rock. Samples were taken along the depth
intervals and lithological sub-division mark-ups to
gather representative samples. Visual estimation
of graphite percentages and flake sizes have
been used to define mineralisation prior to return
of assays. The samples were oven dried, crushed,
split twice through a 50/50 riffle splitter to obtain a
representative sub-sample and then pulverised,
weighing approx. 100g, that was sent to the
Greenwing Resources in-house laboratory for
preliminary Fixed Carbon analysis.
•
QA/QC procedures applied with alternating
standards and blanks inserted every 20 samples,
and two duplicates inserted every 100 samples.
Drilling
techniques		 •
Drill type (e.g. core, reverse
circulation, open-hole hammer,
rotary air blast, auger, Bangka,
sonic, etc.) and details (e.g. core
diameter, triple or standard tube,
depth of diamond tails, face-
sampling
bit
or
other
type,
whether core is oriented and if so,		 •
Auger drilling was completed using a Dormer
“Drillmite” 7HP petrol driven auger, using a 75mm
diameter auger bucket with a stated depth
capacity of 15-20m.
•
Auger holes are inclined at -90° (vertical). A total
of 464 auger holes (GW1A0215 to GW1A0677)
and 4027.5m drilled. Depths of auger holes varied
between 1 m and 12 m(average of 8.68 m).

ASX:GW1 | greenwingresources.com Greenwing Resources Ltd ABN 31 109 933 995

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Criteria JORC Code explanation Commentary
bywhat method, etc.).
Drill sample
recovery		 •
Method
of
recording
and
assessing core and chip sample
recoveries and results assessed.
•
Measures
taken
to
maximise
sample
recovery
and
ensure
representative
nature
of
the
samples.
•
Whether a relationship exists
between sample recovery and
grade and whether sample bias
may have occurred due to
preferential loss/gain of
fine/coarse material.		 •
All auger holes were drilled vertically and were
completed in 0.5m runs, from which all sample
material was drawn. The auger bucket was
thoroughly cleaned out following each run and
the samples were laid out on clean plastic
sheeting
following
which
the
hole
was
geologically logged and sampled.
•
No bias or relationship has been observed
between recovery and grade.
Logging •
Whether core and chip samples
have
been
geologically
and
geotechnically logged to a level
of detail to support appropriate
Mineral
Resource
estimation,
mining studies and metallurgical
studies.
•
Whether logging is qualitative or
quantitative in nature. Core (or
costean,
channel,
etc)
photography.
•
The total length and percentage
of the relevant intersections
logged.		 •
Auger samples were all geologically logged and
photographed, and geological recording of
relevant data was captured on Greenwing
Resources logging templates. All data was
codified to a set company codes system as per
sampling and logging procedures which are in
place.
•
All
logging
included
lithological
features,
estimates of graphite percentages and flake sizes
which is quantitative and is recorded on the
logging sheets. Photographs have been taken as
a qualitative check on logging when the need
arises.
•
All auger holes logged in their entirety.
Sub-sampling
techniques
and sample
preparation		 •
If core, whether cut or sawn and
whether quarter, half or all core
taken.
•
If non-core, whether riffled, tube
sampled, rotary split, etc and
whether sampled wet or dry.
•
For all sample types, the nature,
quality and appropriateness of
the
sample
preparation
technique.
•
Quality
control
procedures
adopted
for
all
sub-sampling
stages to maximise representivity
of samples.
•
Measures taken to ensure that the
sampling is representative of the
in
situ
material
collected,
including for instance results for
field
duplicate/second-half		 •
Auger samples were oven dried, crushed and split
twice using a 50:50 riffle splitter, and then
pulverised. The crushing and splitting and
pulverising equipment were cleaned according
to best practice procedures prior to every run.
•
Each sample was manually crushed to nominal -
2mm and approximately 100g sub-samples was
collected and send to the Greenwing Resources
in-house laboratory in Madagascar. The in-house
laboratory then pulverized such that 80% of the
sample is -75 micron or less in size.
•
Certified graphite standards (GC-09 and GC-10)
and silica blanks (AMIS0484) and duplicates were
inserted with the samples to the Greenwing
Resources in-house laboratory in Madagascar.
•
QA/QC procedures applied with alternating
standards and blanks inserted every 20 samples,
and two duplicates inserted every 100 samples.
•
Standards, blanks, and duplicates for auger
sample analyses reported in this announcement
have performed satisfactorily.

ASX:GW1 | greenwingresources.com Greenwing Resources Ltd ABN 31 109 933 995

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Criteria JORC Code explanation Commentary
sampling.
•
Whether
sample
sizes
are
appropriate to the grain size of
the material being sampled.
Quality of
assay data
and
laboratory
tests		 •
The
nature,
quality
and
appropriateness of the assaying
and laboratory procedures used
and whether the technique is
considered partial or total.
•
For
geophysical
tools,
spectrometers,
handheld
XRF
instruments, etc, the parameters
used in determining the analysis
including instrument make and
model, reading times, calibrations
factors
applied
and
their
derivation, etc.
•
Nature of quality control
procedures adopted (eg
standards, blanks, duplicates,
external laboratory checks) and
whether acceptable levels of
accuracy (ie lack of bias) and
precision have been established.		 •
Samples were analysed at the Greenwing
Resources in-house laboratory for a quick
evaluation of the carbon grades. A Muffle
Furnace was used to determine Loss on Ignition
(LoI), Volatile Matter (VM) and Fixed Carbon (FC).
•
LoI Test: a crucible is placed on an electronic
balance, primarily zeroed and the weight
recorded. 1 gram +- 0.01 of the sample are
added, the weight of crucible + sample are
recorded. The crucible are placed in the Muffle
Furnace at 950°C +-25°C for 8 hours continuously.
After the crucible is removed and cooled, the ash
+ crucible are then weighed and recorder. The
LoI % is calculated as follows:
LOI % = (1 -
𝑊𝑒𝑖𝑔ℎ𝑡 𝑜𝑓𝑎𝑠ℎ
𝑊𝑒𝑖𝑔ℎ 𝑜𝑓 𝑜𝑟𝑖𝑔𝑖𝑛𝑎𝑙 𝑠𝑎𝑚𝑝𝑙𝑒
) × 100
•
VM Test: a crucible is placed on an electronic
balance, primarily zeroed and the weight
recorded. 2 grams +- 0.01 of the sample are
added, the weight of crucible + sample are
recorded. The crucible are placed in the Muffle
Furnace at 950°C +- 25°C for 7 minutes. After the
crucible is removed and cooled, the ash +
crucible are then weighed and recorder. The VM
% is calculated as follows:
V M % = (1 -
𝑊𝑒𝑖𝑔ℎ𝑡 𝑜𝑓𝑎𝑠ℎ
𝑊𝑒𝑖𝑔ℎ 𝑜𝑓 𝑜𝑟𝑖𝑔𝑖𝑛𝑎𝑙 𝑠𝑎𝑚𝑝𝑙𝑒
) × 100
•
The FC % of the sample is calculated as follows:
FC % = (LOI % - VM %)
•
Internal Laboratory check samples (blanks,
standards and duplicates) are also analysed as
per normal laboratory practice.
Verification of
sampling and
assaying		 •
The
verification
of
significant
intersections
by
either
independent
or
alternative
company personnel.
•
The use of twinned holes.
•
Documentation of primary data,
data
entry
procedures,
data
verification,
data
storage
(physical
and
electronic)
protocols.		 •
All data was collected initially on paper log sheets
by Greenwing Resources personnel. This data was
hand entered into EXCEL and NINOX and
validated by the external consultant. All paper
log sheets were scanned and stored together
with the photographs of the geological features
logged.
•
No twinned holes were completed at this stage.
•
The master collar, lithology and assay database
in NINOX with all photographs are backed-up
and stored on an external hard drive.
•
No adjustments to data were done.

ASX:GW1 | greenwingresources.com Greenwing Resources Ltd ABN 31 109 933 995

11

Criteria JORC Code explanation Commentary
•
Discuss any adjustment to assay
data.
Location of
data points		 •
Accuracy and quality of surveys
used to locate drill holes (collar
and
down-hole
surveys),
trenches,
mine
workings
and
other locations used in Mineral
Resource estimation.
•
Specification of the grid system
used.
•
Quality and adequacy of
topographic control.		 •
Final
auger
collar
locations
have
been
completed by using a differential GPS (dGPS)
Leica Zeno GG04 instrument, with an accuracy to
cm.
•
The WGS84 UTM Zone 39S projection system is
used at the Antsirabe project.
•
An accurate topographic survey was
completed. The survey was conducted using a
DJI Mavic Pro 2 type drone, and a differential
GPS (dGPS) Leica Zeno GG04 instrument, with an
accuracy to cm.
Data spacing
and
distribution		 •
Data spacing for reporting of
Exploration Results.
•
Whether the data spacing and
distribution is sufficient to establish
the degree of geological and
grade continuity appropriate for
the Mineral Resource and Ore
Reserve estimation procedure(s)
and classifications applied.
•
Whether sample compositing has
been applied.		 •
Auger samples were collected across the 3
historically
logged graphite units with
line
spacings of approx. 200 m and auger spacings of
approx. 20 m.
•
The purpose of the auger locations was to confirm
the presence of the historical mapped graphitic
units within the Andapa project and to confirm
graphite mineralisation at depth in the regolith.
The data collected is not sufficient for a mineral
resource estimate.
•
No sample composting has been applied.
Orientation of
data in
relation to
geological
structure		 •
Whether
the
orientation
of
sampling
achieves
unbiased
sampling of possible structures
and the extent to which this is
known, considering the deposit
type.
•
If the relationship between the
drilling orientation and the
orientation of key mineralised
structures is considered to have
introduced a sampling bias, this
should be assessed and reported
if material.		 •
The graphite units have a north-west / south-east
trend with a moderately westerly dip. The
graphite units have a conspicuous regolith zone
with completely to highly weathered material at
depth. The regolith hosts graphite mineralisation.
•
The vertical auger holes to test the mineralisation
in the regolith (weathered zone).
•
No sample known bias present.
Sample
security		 •
The measures taken to ensure
sample security.		 •
Samples were stored in a secure storage area at
the Greenwing Resources sample storage facility.
•
Samples bags were sealed as soon as sub-
samplingwas completed and stored securely.
Audits or
reviews		 •
The results of any audits or reviews
of sampling techniques and data.		 •
None.

Section 2 - Reporting of Exploration Results

ASX:GW1 | greenwingresources.com Greenwing Resources Ltd ABN 31 109 933 995

12

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

Criteria JORC Code explanation Commentary
Mineral
tenement and
land tenure
status		 •
Type, reference name/number,
location and ownership including
agreements or material issues with
third parties such as joint ventures,
partnerships, overriding royalties,
native title interests, historical sites,
wilderness or national park and
environmental settings.
•
The security of the tenure held at
the time of reporting along with
any known impediments to
obtaining a license to operate in
the area.		 •
Exploitation permit no PE 24730 is located in the
Toamasina Province of Madagascar and held by
the Malagasy company, Graph Mada SARL
which is a wholly owned subsidiary of the ASX
listed company, Greenwing Resources. Permit no
PE 24730 was granted on 18/01/2007 and is valid
for 40 years.
•
The permit is in good standing, and all statuary
approvals are in place to conduct exploration
and exploitation activities throughout this permit
area
Exploration
done by other
parties		 •
Acknowledgment and appraisal
of exploration by other parties.		 •
None.
Geology •
Deposit type, geological setting
and style of mineralisation.		 •
Crystalline “hard rock” flake graphite deposits
occur in graphitic gneisses within Neoproterozoic
metasedimentary
type
rocks
and
include
accessory minerals of biotite (± sillimanite /
kyanite, ± garnet).
•
Due to the tropical climate and because
graphite is comparatively inert, weathering of the
“hard
rock”
graphitic
gneiss
units
further
concentrate the graphite to form residual
regolith-hosted
accumulations
within
the
weathered profile.
•
Regolith refers to weathered material that occurs
above unweathered bedrock. Two primary
subdivisions are the pedolith (PED) and the
saprolith (SAP). Secondary subdivisions of the
pedolith, from the surface downwards, include
soil (SL), ferruginous zone (FZ), and the mottled
zone (MZ). Secondary subdivisions of the
saprolith, include saprolite (SP) and saprock (SR).
•
The Andapa project contains at least 3 lenticular
bodies of flake graphite within the weathered
profile described above. The 3 parallel striking
graphitic units strike approx. north-west / south-
east over strike distances varying between 1.3 km
and 2.1 km.
Drill hole
Information		 •
A summary of all information
material to the understanding of
the exploration results including a
tabulation
of
the
following
information for all Material drill
holes:
o
eastingand northingof the drill		 •
All relevant auger hole information related to the
2017 drilling program has been previously
reported to the ASX. No material changes have
occurred to this information since it was originally
reported.
•
Another
464
auger
holes
(GW1A0215
to
GW1A0677)have been completed in 2023/2024

ASX:GW1 | greenwingresources.com Greenwing Resources Ltd ABN 31 109 933 995

13

Criteria JORC Code explanation Commentary
hole collar
o
elevation or RL (Reduced Level –
elevation above sea level in
metres) of the drill hole collar
o
dip and azimuth of the hole
o
down
hole
length
and
interception depth
o
Drillhole length.
•
If the exclusion of this information
is justified on the basis that the
information is not Material and
this exclusion does not detract
from the understanding of the
report, the Competent Person
should clearly explain why this is
the case.		 with
drill
collar
data
as
stated
in
this
announcement.
•
Geological interpretations and cross sections of
representative drillholes are presented in this
announcement.
•
Data
aggregation
methods		 •
In reporting Exploration Results,
weighting averaging techniques,
maximum and/or minimum grade
truncations (e.g. cutting of high
grades) and cut-off grades are
usually Material and should be
stated.
•
Where
aggregate
intercepts
incorporate short lengths of high
grade results and longer lengths
of
low
grade
results,
the
procedure
used
for
such
aggregation should be stated
and some typical examples of
such aggregations should be
shown in detail.
•
The assumptions used for any
reporting of metal equivalent
values should be clearlystated.		 •
Auger samples have been reported as in-situ
Fixed Carbon grades as analysed by the
Greenwing
Resources
in-house
laboratory.
Significant
results
reported
are
weighted
averages based upon sample length and grade
•
No metal equivalents have been stated.
•
Relationship
between
mineralisation
widths and
intercept
lengths		 •
These relationships are particularly
important in the reporting of
Exploration Results.
•
If
the
geometry
of
the
mineralisation with respect to the
drillhole angle is known, its nature
should be reported.
•
If it is not known and only the
down hole lengths are reported,
there should be a clear
statement to this effect (e.g.
‘down hole length, true width not
known’).		 •
Vertical auger holes and the orientation are
perpendicular to the moderately westerly dip
graphite unit.
•
Vertically orientated drilling results does not
reflect true thicknesses but the down hole length
of the graphite mineralisation within the regolith.
•

ASX:GW1 | greenwingresources.com Greenwing Resources Ltd ABN 31 109 933 995

14

Criteria JORC Code explanation Commentary
Diagrams •
Appropriate maps and sections
(with scales) and tabulations of
intercepts should be included for
any significant discovery being
reported.
•
These should include, but not be
limited to a plan view of drill hole
collar locations and appropriate
sectional views.		 •
This information has been accurately represented
in the press release and contains all relevant
information required for the reader to understand
the scale, orientation and nature of the 3
graphitic units and sample locations.
•
Balanced
reporting		 •
Where comprehensive reporting
of all Exploration Results is not
practicable,
representative
reporting of both low and high
grades and/or widths should be
practiced to avoid misleading
reportingof Exploration Results.		 •
The summary tables of all the auger collars and
samples are contained within the press release.
•
All significant weighted averages results based
upon sample length and grade are reported.
Other
substantive
exploration
data		 •
Other
exploration
data,
if
meaningful and material, should
be reported including (but not
limited
to):
geological
observations; geophysical survey
results;
geochemical
survey
results; bulk samples – size and
method
of
treatment;
metallurgical test results; bulk
density,
groundwater,
geotechnical
and
rock
characteristics;
potential
deleterious
or
contaminating
substances.		 •
Previous exploration by the Company has
demonstrated
mineralisation
at
Andapa
prospect. Please reference previous ASX release
on 27/02/2018.
Further work •
The nature and scale of planned
further work (e.g. tests for lateral
extensions or depth extensions or
large-scale step-out drilling).
•
Diagrams clearly highlighting the
areas of possible extensions,
including the main geological
interpretations and future drilling
areas, provided this information is
not commercially sensitive.		 •
Further infill drilling along significant higher-grade
graphite mineralisation zones identified with
related sampling, and additional flake size
distribution and metallurgical testing.

ASX:GW1 | greenwingresources.com Greenwing Resources Ltd ABN 31 109 933 995

15

APPENDIX 2 – Andapa Auger Collars

Table 1: Andapa auger collars

Collar ID Utm39sX Utm39sY Elevation Azimuth Inclination Total Depth
GW1A0215 302,102.33 7,976,029.57 50.47 0 -90 12.00
GW1A0216 302,089.50 7,976,014.11 41.02 0 -90 5.00
GW1A0217 301,921.95 7,976,127.55 45.55 0 -90 9.50
GW1A0218 301,933.18 7,976,142.20 35.52 0 -90 5.50
GW1A0219 301,909.97 7,976,111.79 55.68 0 -90 12.00
GW1A0220 301,898.09 7,976,097.13 64.78 0 -90 7.00
GW1A0221 301,884.43 7,976,080.78 61.38 0 -90 7.00
GW1A0222 301,873.43 7,976,066.70 54.35 0 -90 7.50
GW1A0223 301,858.31 7,976,050.05 52.72 0 -90 4.00
GW1A0224 301,847.14 7,976,034.45 67.52 0 -90 11.50
GW1A0225 301,834.70 7,976,018.23 86.83 0 -90 12.00
GW1A0226 301,821.30 7,976,003.66 97.89 0 -90 12.00
GW1A0227 301,807.21 7,975,989.05 107.39 0 -90 9.00
GW1A0228 301,797.59 7,975,977.73 115.24 0 -90 12.00
GW1A0229 301,782.29 7,975,959.10 126.65 0 -90 12.00
GW1A0230 301,765.56 7,975,942.84 120.39 0 -90 8.00
GW1A0231 301,743.46 7,975,928.91 140.64 0 -90 12.00
GW1A0232 301,742.07 7,975,912.96 133.54 0 -90 12.00
GW1A0233 301,730.26 7,975,898.13 123.33 0 -90 11.50
GW1A0234 301,717.31 7,975,882.00 101.95 0 -90 9.00
GW1A0235 301,703.51 7,975,867.82 111.43 0 -90 5.00
GW1A0236 301,844.00 7,975,720.39 73.11 0 -90 6.00
GW1A0237 301,857.77 7,975,737.86 72.37 0 -90 7.50
GW1A0238 301,871.84 7,975,752.76 70.07 0 -90 8.00
GW1A0239 301,881.98 7,975,770.85 65.14 0 -90 9.00
GW1A0240 301,667.66 7,976,133.38 141.85 0 -90 12.00
GW1A0241 301,650.52 7,976,118.93 134.08 0 -90 12.00
GW1A0242 301,641.00 7,976,102.75 128.95 0 -90 12.00
GW1A0243 301,628.07 7,976,088.76 122.33 0 -90 9.00
GW1A0244 301,615.53 7,976,072.30 124.63 0 -90 12.00
GW1A0245 301,603.00 7,976,054.93 134.64 0 -90 12.00
GW1A0246 301,584.30 7,976,040.95 115.92 0 -90 10.00
GW1A0247 301,577.89 7,976,027.47 121.08 0 -90 12.00
GW1A0248 301,563.21 7,976,015.88 132.35 0 -90 12.00
GW1A0249 301,550.09 7,975,994.58 134.29 0 -90 8.00
GW1A0250 301,539.88 7,975,980.06 139.23 0 -90 8.00
GW1A0251 301,410.07 7,976,140.96 89.09 0 -90 6.00
GW1A0252 301,400.45 7,976,124.73 89.53 0 -90 6.00
GW1A0253 301,385.46 7,976,109.02 94.59 0 -90 12.00
GW1A0254 300,769.59 7,975,083.66 102.47 0 -90 12.00
GW1A0255 300,781.64 7,975,099.91 115.08 0 -90 12.00
GW1A0256 300,795.21 7,975,114.90 124.35 0 -90 12.00
GW1A0257 300,808.31 7,975,130.82 115.45 0 -90 12.00
GW1A0258 300,819.90 7,975,145.13 107.36 0 -90 12.00
GW1A0259 300,832.09 7,975,164.43 90.12 0 -90 8.00
GW1A0260 300,846.05 7,975,175.73 79.02 0 -90 12.00
GW1A0261 300,859.22 7,975,191.34 72.96 0 -90 7.50
GW1A0262 300,872.01 7,975,207.15 74.74 0 -90 12.00
GW1A0263 300,884.82 7,975,222.24 82.71 0 -90 12.00

ASX:GW1 | greenwingresources.com Greenwing Resources Ltd ABN 31 109 933 995

16

Collar ID Utm39sX Utm39sY Elevation Azimuth Inclination Total Depth
GW1A0264 300,898.02 7,975,237.56 92.75 0 -90 12.00
GW1A0265 300,911.20 7,975,252.68 104.16 0 -90 12.00
GW1A0266 300,924.99 7,975,269.44 110.34 0 -90 12.00
GW1A0267 300,932.55 7,975,284.66 117.34 0 -90 9.50
GW1A0268 300,949.26 7,975,298.91 128.82 0 -90 12.00
GW1A0269 300,961.46 7,975,314.51 134.91 0 -90 12.00
GW1A0270 300,974.15 7,975,329.43 139.05 0 -90 12.00
GW1A0271 300,987.74 7,975,344.48 136.10 0 -90 12.00
GW1A0272 300,999.01 7,975,360.22 127.87 0 -90 12.00
GW1A0273 301,013.42 7,975,376.08 139.38 0 -90 8.00
GW1A0274 301,025.75 7,975,392.00 137.52 0 -90 12.00
GW1A0275 301,180.16 7,975,261.90 119.93 0 -90 12.00
GW1A0276 301,166.45 7,975,246.91 116.90 0 -90 12.00
GW1A0277 301,153.64 7,975,231.62 117.47 0 -90 12.00
GW1A0278 301,332.14 7,975,133.99 130.43 0 -90 8.50
GW1A0279 301,318.54 7,975,117.61 134.72 0 -90 12.00
GW1A0280 301,306.89 7,975,102.64 149.30 0 -90 9.50
GW1A0281 301,344.83 7,975,149.01 114.22 0 -90 9.50
GW1A0282 301,358.35 7,975,163.48 99.23 0 -90 4.00
GW1A0283 301,371.37 7,975,181.13 101.49 0 -90 11.00
GW1A0284 301,191.44 7,975,278.37 118.47 0 -90 12.00
GW1A0285 301,205.39 7,975,294.06 109.81 0 -90 12.00
GW1A0286 301,216.94 7,975,309.05 102.64 0 -90 4.00
GW1A0287 301,038.55 7,975,406.77 136.75 0 -90 12.00
GW1A0288 301,055.30 7,975,424.13 146.33 0 -90 12.00
GW1A0289 301,065.37 7,975,437.88 146.34 0 -90 8.50
GW1A0290 301,079.92 7,975,453.50 140.60 0 -90 12.00
GW1A0291 301,091.24 7,975,466.72 132.75 0 -90 12.00
GW1A0292 301,103.69 7,975,482.35 125.08 0 -90 12.00
GW1A0293 301,117.78 7,975,497.14 129.93 0 -90 12.00
GW1A0294 301,129.31 7,975,512.00 124.06 0 -90 11.00
GW1A0295 301,143.75 7,975,527.33 123.55 0 -90 11.00
GW1A0296 301,155.32 7,975,544.08 125.82 0 -90 7.00
GW1A0297 301,168.52 7,975,557.93 126.32 0 -90 12.00
GW1A0298 301,181.72 7,975,574.42 125.71 0 -90 10.00
GW1A0299 301,194.51 7,975,589.16 119.28 0 -90 7.50
GW1A0300 301,208.88 7,975,601.82 109.56 0 -90 8.00
GW1A0301 301,219.61 7,975,622.63 91.47 0 -90 5.00
GW1A0302 301,233.91 7,975,636.93 85.10 0 -90 4.00
GW1A0303 301,243.95 7,975,651.72 95.71 0 -90 8.00
GW1A0304 301,258.17 7,975,667.23 98.86 0 -90 9.00
GW1A0305 301,269.25 7,975,682.60 91.97 0 -90 8.00
GW1A0306 301,423.24 7,975,554.11 103.56 0 -90 12.00
GW1A0307 301,410.73 7,975,536.94 108.18 0 -90 8.00
GW1A0308 301,397.56 7,975,522.89 101.03 0 -90 10.00
GW1A0309 301,383.92 7,975,507.23 91.85 0 -90 6.00
GW1A0310 301,371.39 7,975,492.08 86.02 0 -90 7.00
GW1A0311 301,365.78 7,975,473.75 82.24 0 -90 3.00
GW1A0312 301,342.97 7,975,466.06 82.69 0 -90 4.50
GW1A0313 301,329.25 7,975,452.66 83.81 0 -90 8.00
GW1A0314 301,322.48 7,975,428.97 81.51 0 -90 10.00
GW1A0315 301,307.50 7,975,415.55 81.67 0 -90 5.00

ASX:GW1 | greenwingresources.com Greenwing Resources Ltd ABN 31 109 933 995

17

Collar ID Utm39sX Utm39sY Elevation Azimuth Inclination Total Depth
GW1A0316 301,291.13 7,975,401.04 82.95 0 -90 6.50
GW1A0317 301,279.83 7,975,385.13 83.26 0 -90 6.00
GW1A0318 301,264.79 7,975,372.69 86.01 0 -90 4.00
GW1A0319 301,256.99 7,975,350.93 93.28 0 -90 4.00
GW1A0320 301,243.10 7,975,340.76 92.40 0 -90 5.00
GW1A0321 301,240.32 7,975,322.58 96.26 0 -90 4.00
GW1A0322 301,384.90 7,975,195.19 98.24 0 -90 10.00
GW1A0323 301,395.61 7,975,210.59 100.60 0 -90 12.00
GW1A0324 301,410.02 7,975,227.72 106.47 0 -90 12.00
GW1A0325 301,423.43 7,975,240.42 106.12 0 -90 12.00
GW1A0326 301,436.88 7,975,257.91 104.14 0 -90 9.00
GW1A0327 301,448.76 7,975,272.76 105.18 0 -90 10.00
GW1A0328 301,472.80 7,975,300.32 88.25 0 -90 6.00
GW1A0329 301,485.66 7,975,317.13 81.07 0 -90 3.00
GW1A0330 301,500.00 7,975,332.85 93.65 0 -90 9.50
GW1A0331 301,512.49 7,975,347.99 104.96 0 -90 5.00
GW1A0332 301,523.87 7,975,362.23 109.91 0 -90 7.00
GW1A0333 301,537.36 7,975,380.04 120.85 0 -90 4.00
GW1A0334 301,730.38 7,975,295.71 129.29 0 -90 7.00
GW1A0335 301,716.94 7,975,282.00 118.37 0 -90 12.00
GW1A0336 301,704.18 7,975,266.95 106.08 0 -90 6.50
GW1A0337 301,692.20 7,975,251.31 91.20 0 -90 9.00
GW1A0338 301,679.31 7,975,236.50 77.88 0 -90 12.00
GW1A0339 301,665.35 7,975,220.97 80.87 0 -90 12.00
GW1A0340 301,653.73 7,975,204.01 83.87 0 -90 12.00
GW1A0341 301,640.73 7,975,189.36 76.24 0 -90 8.00
GW1A0342 301,626.81 7,975,173.56 65.62 0 -90 7.00
GW1A0343 301,614.32 7,975,158.64 65.70 0 -90 5.00
GW1A0344 301,601.24 7,975,142.94 65.81 0 -90 8.50
GW1A0345 301,588.83 7,975,127.33 69.71 0 -90 5.00
GW1A0346 301,575.08 7,975,112.10 80.57 0 -90 12.00
GW1A0347 301,562.10 7,975,096.77 90.45 0 -90 12.00
GW1A0348 300,687.16 7,974,632.45 119.51 0 -90 12.00
GW1A0349 300,627.57 7,974,554.92 90.99 0 -90 5.00
GW1A0350 300,609.64 7,974,537.74 90.89 0 -90 12.00
GW1A0351 300,596.78 7,974,524.30 91.44 0 -90 7.00
GW1A0352 300,582.98 7,974,508.36 91.73 0 -90 9.00
GW1A0353 300,572.38 7,974,495.32 92.37 0 -90 7.00
GW1A0354 300,555.13 7,974,478.44 91.66 0 -90 7.50
GW1A0355 300,546.12 7,974,463.41 91.82 0 -90 7.00
GW1A0356 300,533.52 7,974,448.02 91.70 0 -90 12.00
GW1A0357 300,520.45 7,974,431.96 91.94 0 -90 8.50
GW1A0358 300,510.30 7,974,416.37 92.44 0 -90 7.00
GW1A0359 300,493.37 7,974,401.44 92.80 0 -90 12.00
GW1A0360 300,481.63 7,974,386.30 92.89 0 -90 4.00
GW1A0361 300,457.64 7,974,374.30 92.91 0 -90 6.00
GW1A0362 300,454.67 7,974,359.18 93.13 0 -90 5.50
GW1A0363 300,441.34 7,974,340.46 94.90 0 -90 12.00
GW1A0364 300,428.62 7,974,324.78 94.38 0 -90 12.00
GW1A0365 300,589.88 7,974,192.70 98.64 0 -90 12.00
GW1A0366 300,596.72 7,974,212.10 98.26 0 -90 6.00
GW1A0367 300,609.19 7,974,227.19 96.71 0 -90 8.00

ASX:GW1 | greenwingresources.com Greenwing Resources Ltd ABN 31 109 933 995

18

Collar ID Utm39sX Utm39sY Elevation Azimuth Inclination Total Depth
GW1A0368 300,380.40 7,974,276.15 94.41 0 -90 12.00
GW1A0369 300,366.23 7,974,263.26 96.47 0 -90 12.00
GW1A0370 300,351.84 7,974,247.45 95.71 0 -90 6.00
GW1A0371 300,620.40 7,974,242.53 94.16 0 -90 11.00
GW1A0372 300,639.03 7,974,261.59 94.09 0 -90 8.00
GW1A0373 300,648.98 7,974,273.51 100.14 0 -90 11.00
GW1A0374 300,659.51 7,974,289.03 105.24 0 -90 12.00
GW1A0375 300,671.68 7,974,305.34 112.51 0 -90 7.50
GW1A0376 300,684.08 7,974,319.41 119.51 0 -90 9.00
GW1A0377 300,696.45 7,974,333.66 125.89 0 -90 10.00
GW1A0378 300,716.82 7,974,347.27 137.32 0 -90 5.50
GW1A0379 300,724.01 7,974,366.06 141.33 0 -90 9.00
GW1A0380 300,737.46 7,974,382.98 145.74 0 -90 7.50
GW1A0381 301,718.81 7,974,970.10 55.99 0 -90 7.50
GW1A0381A 301,720.42 7,974,967.65 55.73 0 -90 7.50
GW1A0382 301,729.19 7,974,984.55 58.27 0 -90 6.50
GW1A0383 301,742.68 7,974,999.83 63.39 0 -90 4.50
GW1A0384 301,637.64 7,974,879.19 58.90 0 -90 6.00
GW1A0385 301,624.24 7,974,862.94 66.26 0 -90 6.00
GW1A0386 301,613.67 7,974,845.48 77.07 0 -90 8.00
GW1A0387 301,597.84 7,974,831.18 89.17 0 -90 2.00
GW1A0388 301,586.96 7,974,814.75 93.43 0 -90 4.00
GW1A0389 301,422.63 7,974,928.79 124.50 0 -90 6.00
GW1A0390 301,410.87 7,974,914.99 118.76 0 -90 10.00
GW1A0391 301,397.69 7,974,900.66 112.76 0 -90 8.00
GW1A0392 301,384.30 7,974,882.70 105.69 0 -90 5.00
GW1A0393 301,370.98 7,974,867.50 102.43 0 -90 5.50
GW1A0394 301,358.90 7,974,853.23 103.56 0 -90 9.00
GW1A0395 301,344.41 7,974,836.46 99.72 0 -90 5.00
GW1A0396 301,333.46 7,974,819.23 92.01 0 -90 10.00
GW1A0397 301,318.97 7,974,804.80 91.44 0 -90 8.00
GW1A0398 301,434.06 7,974,945.88 129.35 0 -90 12.00
GW1A0399 301,449.90 7,974,955.28 134.67 0 -90 12.00
GW1A0400 301,459.55 7,974,975.10 140.96 0 -90 11.00
GW1A0401 301,474.16 7,974,989.41 145.04 0 -90 11.00
GW1A0402 301,485.46 7,975,005.32 151.21 0 -90 12.00
GW1A0403 301,497.30 7,975,020.04 147.32 0 -90 12.00
GW1A0404 301,510.70 7,975,036.66 140.06 0 -90 12.00
GW1A0405 301,525.68 7,975,051.13 126.16 0 -90 5.00
GW1A0406 301,536.16 7,975,065.80 112.73 0 -90 12.00
GW1A0407 301,551.45 7,975,081.03 101.01 0 -90 12.00
GW1A0408 301,294.89 7,975,087.16 153.64 0 -90 12.00
GW1A0409 301,282.46 7,975,073.87 146.62 0 -90 10.00
GW1A0410 301,242.20 7,975,026.00 138.12 0 -90 12.00
GW1A0411 301,230.16 7,975,011.93 141.01 0 -90 12.00
GW1A0412 301,217.82 7,974,996.90 139.23 0 -90 10.00
GW1A0413 301,207.61 7,974,980.45 136.43 0 -90 8.00
GW1A0414 301,195.02 7,974,964.34 129.21 0 -90 12.00
GW1A0415 301,181.91 7,974,947.78 121.79 0 -90 11.00
GW1A0416 301,167.25 7,974,935.82 114.91 0 -90 12.00
GW1A0417 301,154.13 7,974,917.75 104.06 0 -90 6.00
GW1A0418 301,140.40 7,974,902.93 86.47 0 -90 10.00

ASX:GW1 | greenwingresources.com Greenwing Resources Ltd ABN 31 109 933 995

19

Collar ID Utm39sX Utm39sY Elevation Azimuth Inclination Total Depth
GW1A0419 301,127.27 7,974,890.41 68.74 0 -90 6.00
GW1A0420 300,977.08 7,975,018.01 88.91 0 -90 8.00
GW1A0421 300,987.55 7,975,033.33 88.97 0 -90 7.50
GW1A0422 300,999.96 7,975,046.87 91.28 0 -90 12.00
GW1A0423 301,012.81 7,975,061.69 98.13 0 -90 10.00
GW1A0424 301,026.28 7,975,078.83 108.45 0 -90 12.00
GW1A0425 301,037.58 7,975,093.59 116.82 0 -90 10.00
GW1A0426 301,052.02 7,975,108.57 115.03 0 -90 12.00
GW1A0427 301,066.32 7,975,121.84 106.66 0 -90 7.00
GW1A0428 301,077.85 7,975,136.62 99.33 0 -90 7.00
GW1A0429 301,090.07 7,975,154.33 86.84 0 -90 8.00
GW1A0430 301,127.94 7,975,201.09 98.77 0 -90 8.00
GW1A0431 301,140.90 7,975,215.84 109.94 0 -90 9.00
GW1A0432 301,750.03 7,974,703.17 105.64 0 -90 12.00
GW1A0433 301,744.92 7,974,686.88 92.54 0 -90 11.00
GW1A0434 301,728.97 7,974,669.59 99.46 0 -90 7.00
GW1A0435 301,714.21 7,974,656.93 105.27 0 -90 6.50
GW1A0436 301,698.10 7,974,634.94 117.27 0 -90 6.50
GW1A0437 301,689.46 7,974,626.16 117.37 0 -90 11.00
GW1A0438 301,587.82 7,974,503.34 131.61 0 -90 12.00
GW1A0439 301,574.42 7,974,491.62 124.95 0 -90 12.00
GW1A0440 301,558.87 7,974,474.28 126.88 0 -90 9.00
GW1A0441 301,545.68 7,974,458.52 130.37 0 -90 8.00
GW1A0442 301,537.12 7,974,441.39 132.98 0 -90 11.00
GW1A0443 301,382.30 7,974,570.84 92.58 0 -90 12.00
GW1A0444 301,394.67 7,974,587.24 100.88 0 -90 12.00
GW1A0445 301,407.30 7,974,600.08 106.25 0 -90 9.00
GW1A0446 301,433.44 7,974,631.45 92.19 0 -90 7.00
GW1A0447 301,447.18 7,974,643.39 90.12 0 -90 8.00
GW1A0448 301,765.68 7,974,717.51 120.53 0 -90 12.00
GW1A0449 301,779.25 7,974,732.30 120.89 0 -90 12.00
GW1A0450 301,790.11 7,974,748.02 115.30 0 -90 12.00
GW1A0451 301,807.28 7,974,764.43 103.17 0 -90 7.00
GW1A0452 301,815.51 7,974,780.26 92.00 0 -90 7.00
GW1A0453 301,829.91 7,974,795.10 82.57 0 -90 12.00
GW1A0454 301,842.79 7,974,808.51 76.42 0 -90 6.50
GW1A0455 301,856.68 7,974,826.22 68.49 0 -90 8.00
GW1A0456 301,869.05 7,974,840.46 57.54 0 -90 11.00
GW1A0457 301,885.01 7,974,854.82 47.84 0 -90 6.00
GW1A0458 301,934.24 7,974,917.40 62.26 0 -90 7.00
GW1A0459 301,947.19 7,974,931.62 71.39 0 -90 9.00
GW1A0460 301,947.54 7,974,618.40 75.22 0 -90 12.00
GW1A0461 301,933.99 7,974,603.27 77.56 0 -90 10.50
GW1A0462 301,960.60 7,974,634.33 82.25 0 -90 12.00
GW1A0463 301,971.75 7,974,648.16 82.18 0 -90 12.00
GW1A0464 301,983.13 7,974,666.48 83.19 0 -90 5.50
GW1A0465 301,997.79 7,974,680.88 83.42 0 -90 9.00
GW1A0466 302,010.09 7,974,695.81 89.25 0 -90 6.50
GW1A0467 302,023.11 7,974,711.24 81.41 0 -90 12.00
GW1A0468 302,036.74 7,974,728.04 79.33 0 -90 12.00
GW1A0469 302,047.60 7,974,740.80 85.86 0 -90 12.00
GW1A0470 302,062.01 7,974,442.97 87.21 0 -90 6.00

ASX:GW1 | greenwingresources.com Greenwing Resources Ltd ABN 31 109 933 995

20

Collar ID Utm39sX Utm39sY Elevation Azimuth Inclination Total Depth
GW1A0471 302,047.96 7,974,429.89 95.83 0 -90 12.00
GW1A0472 302,035.19 7,974,411.11 103.68 0 -90 8.00
GW1A0473 302,018.61 7,974,398.46 114.95 0 -90 6.00
GW1A0474 302,009.70 7,974,383.89 115.30 0 -90 12.00
GW1A0475 301,996.49 7,974,367.98 112.71 0 -90 7.00
GW1A0476 301,982.93 7,974,355.82 105.10 0 -90 12.00
GW1A0477 301,970.70 7,974,338.16 105.26 0 -90 11.00
GW1A0478 301,957.62 7,974,322.53 104.91 0 -90 12.00
GW1A0479 301,946.25 7,974,307.74 105.25 0 -90 12.00
GW1A0480 301,933.79 7,974,293.51 105.89 0 -90 12.00
GW1A0481 301,919.50 7,974,277.41 107.00 0 -90 6.00
GW1A0482 302,074.14 7,974,460.57 82.44 0 -90 5.00
GW1A0483 302,085.53 7,974,476.03 83.68 0 -90 9.00
GW1A0484 302,097.90 7,974,490.06 85.41 0 -90 12.00
GW1A0485 302,112.24 7,974,506.09 89.03 0 -90 12.00
GW1A0486 302,123.43 7,974,520.20 89.98 0 -90 12.00
GW1A0487 302,137.99 7,974,534.65 83.45 0 -90 12.00
GW1A0488 302,151.59 7,974,552.07 74.33 0 -90 8.00
GW1A0489 302,163.17 7,974,568.22 70.42 0 -90 8.00
GW1A0490 302,300.90 7,974,422.38 69.46 0 -90 10.50
GW1A0491 302,291.33 7,974,408.34 58.57 0 -90 7.00
GW1A0492 302,275.41 7,974,395.69 56.92 0 -90 5.50
GW1A0493 302,265.52 7,974,379.44 48.10 0 -90 8.00
GW1A0494 302,253.84 7,974,362.48 46.72 0 -90 7.00
GW1A0495 302,239.87 7,974,345.90 59.42 0 -90 5.50
GW1A0496 302,225.57 7,974,332.74 74.26 0 -90 6.00
GW1A0497 302,213.27 7,974,318.07 56.52 0 -90 3.50
GW1A0498 302,059.95 7,974,132.55 40.99 0 -90 2.00
GW1A0499 302,043.71 7,974,121.40 47.68 0 -90 1.00
GW1A0500 302,034.64 7,974,102.48 45.77 0 -90 4.00
GW1A0501 302,021.47 7,974,088.94 43.19 0 -90 5.00
GW1A0502 302,005.16 7,974,068.55 48.15 0 -90 9.00
GW1A0503 301,994.94 7,974,054.33 51.24 0 -90 10.00
GW1A0504 301,843.02 7,974,185.99 98.00 0 -90 9.00
GW1A0505 301,855.19 7,974,199.58 105.93 0 -90 6.00
GW1A0506 301,868.85 7,974,216.57 105.43 0 -90 10.00
GW1A0507 301,880.38 7,974,230.52 93.85 0 -90 5.00
GW1A0508 301,893.57 7,974,249.31 91.93 0 -90 5.00
GW1A0509 301,909.00 7,974,261.69 104.65 0 -90 5.00
GW1A0510 301,920.78 7,974,586.81 70.88 0 -90 9.50
GW1A0511 301,908.46 7,974,574.33 64.73 0 -90 11.00
GW1A0512 301,894.06 7,974,558.02 59.12 0 -90 8.50
GW1A0513 301,880.13 7,974,539.96 61.46 0 -90 10.00
GW1A0514 301,868.70 7,974,525.73 62.52 0 -90 12.00
GW1A0515 301,858.38 7,974,510.88 65.10 0 -90 12.00
GW1A0516 301,843.12 7,974,496.29 58.31 0 -90 6.00
GW1A0517 301,829.51 7,974,481.72 57.12 0 -90 8.00
GW1A0518 301,819.64 7,974,463.89 53.01 0 -90 5.00
GW1A0519 301,753.94 7,974,390.34 60.14 0 -90 6.50
GW1A0520 301,740.80 7,974,375.47 68.77 0 -90 4.00
GW1A0521 301,701.08 7,974,327.52 66.10 0 -90 7.00
GW1A0522 302,315.97 7,974,440.34 65.88 0 -90 6.00

ASX:GW1 | greenwingresources.com Greenwing Resources Ltd ABN 31 109 933 995

21

Collar ID Utm39sX Utm39sY Elevation Azimuth Inclination Total Depth
GW1A0523 302,315.97 7,974,440.34 65.88 0 -90 9.00
GW1A0524 302,328.19 7,974,456.39 64.26 0 -90 10.00
GW1A0525 302,342.17 7,974,468.95 64.89 0 -90 8.00
GW1A0526 302,355.08 7,974,485.01 71.68 0 -90 9.00
GW1A0527 302,367.26 7,974,500.23 81.80 0 -90 10.00
GW1A0528 302,380.40 7,974,515.34 85.15 0 -90 12.00
GW1A0529 302,393.14 7,974,530.95 83.35 0 -90 12.00
GW1A0530 302,406.89 7,974,546.40 76.18 0 -90 8.00
GW1A0531 302,419.21 7,974,561.38 64.44 0 -90 9.00
GW1A0532 302,432.14 7,974,576.94 49.72 0 -90 7.50
GW1A0533 302,559.97 7,974,417.40 54.06 0 -90 4.50
GW1A0534 302,546.85 7,974,402.18 53.65 0 -90 8.00
GW1A0535 302,534.21 7,974,387.27 50.79 0 -90 10.00
GW1A0536 302,521.15 7,974,371.73 44.92 0 -90 9.50
GW1A0537 302,510.22 7,974,355.73 46.05 0 -90 9.50
GW1A0538 302,496.18 7,974,341.75 43.08 0 -90 12.00
GW1A0539 302,483.55 7,974,327.19 47.60 0 -90 9.00
GW1A0540 302,469.70 7,974,310.63 58.32 0 -90 9.00
GW1A0541 302,456.65 7,974,295.03 64.12 0 -90 11.00
GW1A0542 302,444.06 7,974,279.65 66.72 0 -90 7.00
GW1A0543 302,430.81 7,974,266.43 59.08 0 -90 9.00
GW1A0544 302,416.94 7,974,248.29 40.10 0 -90 2.50
GW1A0545 302,405.17 7,974,234.21 50.22 0 -90 8.50
GW1A0546 302,392.45 7,974,218.80 60.89 0 -90 9.50
GW1A0547 302,378.31 7,974,203.05 66.79 0 -90 6.00
GW1A0548 302,367.39 7,974,187.34 70.02 0 -90 6.50
GW1A0549 302,353.94 7,974,172.37 76.08 0 -90 7.00
GW1A0550 302,341.31 7,974,157.30 75.79 0 -90 8.50
GW1A0551 302,329.84 7,974,143.06 70.55 0 -90 5.50
GW1A0552 302,313.28 7,974,127.56 62.69 0 -90 7.00
GW1A0553 302,289.33 7,974,096.00 64.63 0 -90 7.50
GW1A0554 302,276.42 7,974,080.71 60.80 0 -90 9.00
GW1A0555 302,302.95 7,974,110.34 62.71 0 -90 8.00
GW1A0556 302,262.04 7,974,064.67 49.40 0 -90 6.50
GW1A0557 302,250.12 7,974,051.89 41.09 0 -90 3.00
GW1A0558 302,236.00 7,974,036.24 49.48 0 -90 6.00
GW1A0559 302,222.72 7,974,019.12 68.98 0 -90 4.50
GW1A0560 302,212.87 7,974,004.42 75.70 0 -90 7.00
GW1A0561 302,199.59 7,973,987.05 78.98 0 -90 5.00
GW1A0562 302,186.95 7,973,976.92 74.78 0 -90 11.50
GW1A0563 302,173.88 7,973,958.11 71.41 0 -90 10.00
GW1A0564 302,161.81 7,973,942.95 67.32 0 -90 12.00
GW1A0565 302,146.96 7,973,926.08 61.86 0 -90 9.00
GW1A0566 302,136.37 7,973,912.26 63.93 0 -90 8.00
GW1A0567 302,124.68 7,973,897.88 67.23 0 -90 5.00
GW1A0568 302,109.31 7,973,880.28 75.56 0 -90 7.00
GW1A0569 302,095.86 7,973,865.89 78.07 0 -90 6.00
GW1A0570 302,300.62 7,973,799.72 50.91 0 -90 12.00
GW1A0571 302,314.14 7,973,813.94 44.78 0 -90 4.00
GW1A0572 302,326.71 7,973,829.23 43.73 0 -90 5.50
GW1A0573 302,340.75 7,973,845.67 47.81 0 -90 7.00
GW1A0574 302,288.18 7,973,782.95 55.49 0 -90 3.00

ASX:GW1 | greenwingresources.com Greenwing Resources Ltd ABN 31 109 933 995

22

Collar ID Utm39sX Utm39sY Elevation Azimuth Inclination Total Depth
GW1A0575 302,276.55 7,973,769.12 69.32 0 -90 5.00
GW1A0576 302,263.34 7,973,753.52 81.81 0 -90 6.00
GW1A0577 302,249.95 7,973,737.27 93.77 0 -90 5.00
GW1A0578 302,354.06 7,973,861.14 53.03 0 -90 9.00
GW1A0579 302,365.38 7,973,874.85 52.87 0 -90 4.00
GW1A0580 302,378.71 7,973,890.87 48.27 0 -90 5.00
GW1A0581 302,391.41 7,973,904.50 51.43 0 -90 3.50
GW1A0582 302,404.01 7,973,919.74 51.42 0 -90 4.00
GW1A0583 302,416.12 7,973,936.59 57.78 0 -90 8.00
GW1A0584 302,428.28 7,973,955.14 55.51 0 -90 6.00
GW1A0585 302,441.25 7,973,969.47 59.32 0 -90 7.00
GW1A0586 302,457.95 7,973,982.52 73.94 0 -90 6.00
GW1A0587 302,469.56 7,973,997.76 80.23 0 -90 7.00
GW1A0588 302,481.10 7,974,012.55 87.98 0 -90 9.00
GW1A0589 302,495.02 7,974,029.61 100.81 0 -90 8.50
GW1A0590 302,507.16 7,974,044.29 110.37 0 -90 4.50
GW1A0591 302,519.45 7,974,059.07 118.84 0 -90 3.50
GW1A0592 301,301.02 7,974,116.49 95.71 0 -90 12.00
GW1A0593 301,287.27 7,974,101.16 102.45 0 -90 9.00
GW1A0594 301,273.65 7,974,086.36 114.54 0 -90 7.00
GW1A0595 301,260.13 7,974,070.74 124.57 0 -90 8.00
GW1A0596 301,247.04 7,974,055.31 136.47 0 -90 9.00
GW1A0597 301,236.12 7,974,041.28 138.52 0 -90 12.00
GW1A0598 301,223.89 7,974,024.60 136.77 0 -90 7.50
GW1A0599 301,210.96 7,974,009.48 124.58 0 -90 8.00
GW1A0600 301,195.96 7,973,996.64 111.72 0 -90 9.00
GW1A0601 301,184.36 7,973,980.05 94.28 0 -90 7.00
GW1A0602 301,171.92 7,973,964.11 79.22 0 -90 7.00
GW1A0603 301,157.39 7,973,946.69 84.84 0 -90 9.00
GW1A0604 301,145.61 7,973,934.15 80.95 0 -90 12.00
GW1A0605 301,131.45 7,973,918.13 80.89 0 -90 8.00
GW1A0606 301,118.57 7,973,902.97 71.26 0 -90 5.00
GW1A0607 301,105.49 7,973,886.60 79.76 0 -90 6.00
GW1A0608 301,093.85 7,973,873.48 77.82 0 -90 8.00
GW1A0609 301,081.03 7,973,857.55 71.07 0 -90 7.50
GW1A0610 301,067.57 7,973,845.38 64.78 0 -90 6.00
GW1A0611 301,047.96 7,973,829.03 65.61 0 -90 5.50
GW1A0612 300,890.03 7,973,940.74 113.22 0 -90 5.50
GW1A0613 300,902.11 7,973,954.80 112.22 0 -90 3.50
GW1A0614 300,915.07 7,973,970.02 120.90 0 -90 8.00
GW1A0615 300,928.49 7,973,985.06 127.84 0 -90 5.00
GW1A0616 300,941.25 7,973,999.72 131.05 0 -90 7.00
GW1A0617 300,953.69 7,974,015.66 138.39 0 -90 8.00
GW1A0618 300,966.86 7,974,032.32 140.86 0 -90 6.00
GW1A0619 300,979.05 7,974,046.90 135.60 0 -90 12.00
GW1A0620 300,992.58 7,974,061.84 129.39 0 -90 12.00
GW1A0621 301,005.30 7,974,078.15 117.06 0 -90 7.00
GW1A0622 301,018.70 7,974,091.79 107.20 0 -90 8.00
GW1A0623 301,029.94 7,974,107.09 96.78 0 -90 7.00
GW1A0624 301,043.87 7,974,122.84 89.40 0 -90 12.00
GW1A0625 301,083.63 7,974,169.50 79.92 0 -90 9.00
GW1A0626 301,095.03 7,974,185.94 87.79 0 -90 12.00

ASX:GW1 | greenwingresources.com Greenwing Resources Ltd ABN 31 109 933 995

23

Collar ID Utm39sX Utm39sY Elevation Azimuth Inclination Total Depth
GW1A0627 301,108.37 7,974,199.86 98.84 0 -90 10.00
GW1A0628 301,121.03 7,974,214.91 102.86 0 -90 11.00
GW1A0629 301,134.17 7,974,230.54 105.90 0 -90 9.50
GW1A0630 300,990.10 7,974,375.32 104.74 0 -90 10.00
GW1A0631 300,980.16 7,974,359.60 108.76 0 -90 11.00
GW1A0632 300,968.36 7,974,343.72 107.90 0 -90 12.00
GW1A0633 300,955.67 7,974,328.92 116.49 0 -90 10.00
GW1A0634 300,942.58 7,974,311.08 122.82 0 -90 12.00
GW1A0635 300,926.53 7,974,299.12 124.72 0 -90 12.00
GW1A0636 300,913.67 7,974,283.08 122.82 0 -90 12.00
GW1A0637 300,904.21 7,974,267.30 124.72 0 -90 8.00
GW1A0638 300,889.55 7,974,251.04 122.71 0 -90 12.00
GW1A0639 300,878.92 7,974,235.86 124.12 0 -90 9.00
GW1A0640 300,864.82 7,974,220.76 122.94 0 -90 12.00
GW1A0641 300,852.12 7,974,205.13 116.63 0 -90 12.00
GW1A0642 300,840.09 7,974,191.96 108.96 0 -90 7.00
GW1A0643 300,826.50 7,974,174.87 118.18 0 -90 6.50
GW1A0644 300,811.44 7,974,158.24 130.27 0 -90 8.00
GW1A0645 300,800.05 7,974,143.86 138.08 0 -90 7.00
GW1A0646 300,839.21 7,974,502.34 107.97 0 -90 12.00
GW1A0647 300,827.93 7,974,487.79 114.48 0 -90 9.00
GW1A0648 300,812.76 7,974,471.51 123.59 0 -90 7.00
GW1A0649 300,801.40 7,974,458.61 129.63 0 -90 12.00
GW1A0650 300,787.64 7,974,442.10 134.98 0 -90 9.00
GW1A0651 300,776.69 7,974,427.53 138.18 0 -90 5.50
GW1A0652 300,761.78 7,974,412.02 142.68 0 -90 12.00
GW1A0653 300,749.44 7,974,396.09 147.52 0 -90 7.00
GW1A0654 300,786.80 7,974,129.19 139.19 0 -90 6.00
GW1A0655 300,774.69 7,974,113.32 137.99 0 -90 7.00
GW1A0656 300,762.60 7,974,098.45 137.29 0 -90 6.00
GW1A0657 300,749.94 7,974,083.37 136.00 0 -90 6.50
GW1A0658 300,354.91 7,974,544.64 123.60 0 -90 8.00
GW1A0659 300,366.49 7,974,561.15 121.77 0 -90 9.00
GW1A0660 300,379.37 7,974,576.55 118.99 0 -90 10.00
GW1A0661 300,392.44 7,974,591.48 114.79 0 -90 9.00
GW1A0662 300,404.88 7,974,606.12 110.13 0 -90 8.00
GW1A0663 300,418.69 7,974,622.46 99.00 0 -90 7.00
GW1A0664 300,431.52 7,974,637.63 95.15 0 -90 8.00
GW1A0665 300,447.59 7,974,651.75 100.08 0 -90 7.00
GW1A0666 300,456.50 7,974,668.19 106.81 0 -90 9.00
GW1A0667 300,469.65 7,974,683.64 114.70 0 -90 5.00
GW1A0668 300,482.06 7,974,699.49 116.18 0 -90 9.00
GW1A0669 300,495.07 7,974,713.77 112.88 0 -90 8.00
GW1A0670 300,509.22 7,974,729.25 101.74 0 -90 10.00
GW1A0671 300,522.22 7,974,744.15 87.90 0 -90 6.00
GW1A0672 300,383.06 7,974,888.67 85.67 0 -90 10.00
GW1A0673 300,369.96 7,974,873.64 93.20 0 -90 9.00
GW1A0674 300,331.04 7,974,828.92 90.79 0 -90 10.00
GW1A0675 300,315.54 7,974,811.04 85.00 0 -90 8.00
GW1A0676 300,302.45 7,974,796.03 85.00 0 -90 4.00
GW1A0677 300,290.90 7,974,781.17 85.00 0 -90 8.00

ASX:GW1 | greenwingresources.com Greenwing Resources Ltd ABN 31 109 933 995

24

APPENDIX 3 – Andapa Weighted Averages FC%

Table 2 – Andapa weighted averages FC%

Collar ID Weighted Average FC (%)
GW1A0215 12.00m @ 1.00% FC (incl. 5.00m @ 1.47% FC)
GW1A0216 5.00m @ 1.59% FC
GW1A0217 9.50m @ 0.64% FC (incl. 2.50m @1.51% FC)
GW1A0218 4.50m @ 0.33% FC
GW1A0219 12.00m @ 1.18% FC
GW1A0220 7.00m @ 0.74% FC
GW1A0221 7.00m @ 0.54% FC
GW1A0222 7.50m @ 0.87% FC (incl. 1.50m @ 1.19% FC)
GW1A0223 4.00m @ 1.07% FC
GW1A0224 11.50m@ 0.68%FC
GW1A0225 12.00m @ 1.49% FC
GW1A0226 11.50m @ 1.15% FC
GW1A0227 8.00m@ 0.94%FC
GW1A0228 12.00m @ 1.06% FC
GW1A0229 11.00m @ 1.27% FC (incl. 5.00m @1.68% FC)
GW1A0230 [email protected]%FC
GW1A0231 12.00m @ 1.17% FC
GW1A0232 11.50m @ 1.07% FC
GW1A0233 [email protected]%FC
GW1A0234 9.00m @ 2.24% FC
GW1A0235 3.50m @ 0.81% FC
GW1A0236 [email protected]%FC (incl. [email protected]%FC)
GW1A0237 7.50m @ 1.17% FC (incl. 2.50m @ 1.37% FC)
GW1A0238 7.50m @ 1.11% FC (incl. 3.50m @ 1.90% FC)
GW1A0239 [email protected]%FC (incl. 3.00m@ 3.04%FC)
GW1A0240 11.00m @ 1.60% FC (incl. 3.00m @ 2.93% FC)
GW1A0241 11.00m @ 4.39% FC (incl. 6.00m @ 5.18% FC)
GW1A0242 11.50m@ 3.84%FC ([email protected]%FC)
GW1A0243 9.00m @ 4.81% FC (incl. 7.00m @ 5.54% FC)
GW1A0244 12.00m @ 3.57% FC (incl. 8.00m @ 4.10% FC)
GW1A0245 [email protected]%FC (incl. 8.00m@ 3.82%FC)
GW1A0246 10.00m @ 1.97% FC (incl. 4.00m @ 3.10% FC)
GW1A0247 12.00m @ 4.13% FC (incl. 8.50m @ 5.33% FC)
GW1A0248 [email protected]%FC (incl.4.00m@ 3.56%FC)
GW1A0249 7.50m @ 2.62% FC (incl. 1.00m @ 4.49% FC)
GW1A0250 8.00m @ 0.95% FC (incl. 3.00m @ 1.20% FC)
GW1A0251 5.00m @ 0.40% FC
GW1A0252 5.50m @ 0.24% FC
GW1A0253 11.00m @ 0.33% FC
GW1A0254 12.00m @ 0.23% FC
GW1A0255 12.00m @ 0.09% FC
GW1A0256 12.00m @ 0.13% FC
GW1A0257 12.00m @ 0.09% FC
GW1A0258 12.00m @ 0.76% FC (incl. 3.00m @ 1.05% FC)
GW1A0259 8.00m @ 0.41% FC
GW1A0260 12.00m @ 0.29% FC
GW1A0261 6.50m @ 0.22% FC
GW1A0262 11.00m @ 0.49% FC
GW1A0263 12.00m @ 0.36% FC

ASX:GW1 | greenwingresources.com Greenwing Resources Ltd ABN 31 109 933 995

25

Collar ID Weighted Average FC (%)
GW1A0264 11.00m @ 0.50% FC
GW1A0265 11.00m @ 0.78% FC
GW1A0266 11.00m @ 1.16% FC
GW1A0267 9.50m @ 0.60% FC
GW1A0268 11.00m @ 0.27% FC
GW1A0269 11.00m @ 0.35% FC
GW1A0270 11.00m @ 0.42% FC
GW1A0271 11.00m @ 0.38% FC
GW1A0272 11.00m @ 0.56% FC
GW1A0273 7.00m @ 0.41% FC
GW1A0274 11.00m @ 0.74% FC (incl. 3.00m @ 1.02% FC)
GW1A0275 11.50m @ 1.61% FC (incl. 2.00m @ 2.42% FC)
GW1A0276 11.50m @ 0.34% FC
GW1A0277 11.00m @ 0.56% FC
GW1A0278 8.50m @ 0.19% FC
GW1A0279 11.00m@ 0.49%FC
GW1A0280 8.50m @ 0.19% FC
GW1A0281 8.50m @ 0.45% FC
GW1A0282 4.00m@ 0.18%FC
GW1A0283 10.00m @ 0.28% FC
GW1A0284 11.00m @ 0.15% FC
GW1A0285 [email protected]%FC (incl. 5.00m@ 3.51%FC)
GW1A0286 4.00m @ 0.78% FC
GW1A0287 11.50m @ 0.17% FC
GW1A0288 11.00m@ 0.31%FC
GW1A0289 7.50m @ 0.11% FC
GW1A0290 11.00m @ 0.51% FC
GW1A0291 [email protected]%FC
GW1A0292 11.50m @ 0.51% FC
GW1A0293 11.50m @ 0.57% FC
GW1A0294 11.00m@ 0.15%FC
GW1A0295 11.00m @ 0.06% FC
GW1A0296 7.00m @ 0.07% FC
GW1A0297 11.50m@ 0.25%FC
GW1A0298 10.00m @ 0.03% FC
GW1A0299 7.50m @ 0.07% FC
GW1A0300 8.00m@ 0.00%FC
GW1A0301 5.00m @ 0.01% FC
GW1A0302 4.00m @ 0.00% FC
GW1A0303 8.00m@ 0.08%FC
GW1A0304 9.00m @ 0.00% FC
GW1A0305 8.00m @ 0.06% FC
GW1A0306 11.50m @ 0.05% FC
GW1A0307 8.00m @ 0.00% FC
GW1A0308 10.00m @ 0.02% FC
GW1A0309 6.00m @ 0.04% FC
GW1A0310 7.00m @ 0.01% FC
GW1A0311 not sampled
GW1A0312 4.50m @ 0.00% FC
GW1A0313 8.00m @ 0.06% FC
GW1A0314 10.00m @ 0.04% FC
GW1A0315 5.00m @ 0.00% FC

ASX:GW1 | greenwingresources.com Greenwing Resources Ltd ABN 31 109 933 995

26

Collar ID Weighted Average FC (%)
GW1A0316 6.50m @ 0.00% FC
GW1A0317 5.00m @ 0.00% FC
GW1A0318 4.00m @ 0.06% FC
GW1A0319 4.00m @ 0.00% FC
GW1A0320 5.00m @ 0.00% FC
GW1A0321 4.00m @ 0.00% FC
GW1A0322 10.00m @ 0.00% FC
GW1A0323 12.00m @ 0.04% FC
GW1A0324 12.00m @ 0.04% FC
GW1A0325 12.00m @ 0.10% FC
GW1A0326 8.00m @ 0.07% FC
GW1A0327 9.00m @ 0.16% FC
GW1A0328 5.00m @ 0.04% FC
GW1A0329 3.00m @ 0.02% FC
GW1A0330 9.50m @ 0.16% FC
GW1A0331 5.00m@ 0.00%FC
GW1A0332 7.00m @ 0.00% FC
GW1A0333 4.00m @ 0.00% FC
GW1A0334 7.00m@ 0.08%FC
GW1A0335 12.00m @ 0.06% FC
GW1A0336 6.50m @ 0.07% FC
GW1A0337 9.00m@ 0.10%FC
GW1A0338 12.00m @ 0.09% FC
GW1A0339 12.00m @ 0.00% FC
GW1A0340 12.00m@ 0.02%FC
GW1A0341 8.00m @ 0.01% FC
GW1A0342 7.00m @ 0.01% FC
GW1A0343 5.00m@ 0.03%FC
GW1A0344 7.50m @ 0.20% FC
GW1A0345 5.00m @ 0.03% FC
GW1A0346 11.00m@ 0.22%FC
GW1A0347 12.00m @ 0.24% FC
GW1A0348 12.00m @ 0.05% FC
GW1A0349 5.00m@ 0.06%FC
GW1A0350 12.00m @ 0.02% FC
GW1A0351 7.00m @ 0.00% FC
GW1A0352 9.00m@ 0.01%FC
GW1A0353 7.00m @ 0.01% FC
GW1A0354 4.50m @ 0.00% FC
GW1A0355 4.00m@ 0.02%FC
GW1A0356 10.00m @ 0.00% FC
GW1A0357 8.00m @ 0.00% FC
GW1A0358 6.00m @ 0.00% FC
GW1A0359 11.00m @ 1.30% FC (incl. 3.00m @ 2.46% FC)
GW1A0360 3.50m @ 0.53% FC (incl. 1.00m @ 1.34% FC)
GW1A0361 6.00m @ 0.00% FC
GW1A0362 5.50m @ 0.00% FC
GW1A0363 12.00m @ 0.89% FC (incl. 5.00m @ 1.82% FC)
GW1A0364 12.00m @ 1.54% FC (incl. 3.00m @3.13% FC)
GW1A0365 11.00m @ 0.03% FC
GW1A0366 6.00m @ 0.00% FC
GW1A0367 8.00m @ 0.00% FC

ASX:GW1 | greenwingresources.com Greenwing Resources Ltd ABN 31 109 933 995

27

Collar ID Weighted Average FC (%)
GW1A0368 12.00m @ 0.18% FC
GW1A0369 11.00m @ 0.32% FC
GW1A0370 6.00m @ 0.08% FC
GW1A0371 10.00m @ 0.34% FC
GW1A0372 8.00m @ 0.21% FC
GW1A0373 11.00m @ 0.01% FC
GW1A0374 12.00m @ 0.03% FC
GW1A0375 7.50m @ 0.01% FC
GW1A0376 9.00m @ 0.04% FC
GW1A0377 10.00m @ 0.00% FC
GW1A0378 5.50m @ 0.00% FC
GW1A0379 9.00m @ 0.59% FC (incl. 1.00m @ 1.36% FC)
GW1A0380 7.50m @ 0.08% FC
GW1A0381 3.00m @ 0.12% FC
GW1A0381A 4.00m @ 0.08% FC
GW1A0382 6.50m@ 0.03%FC
GW1A0383 4.00m @ 0.29% FC
GW1A0384 6.00m @ 0.03% FC
GW1A0385 6.00m@ 0.01%FC
GW1A0386 8.00m @ 0.25% FC
GW1A0387 2.00m @ 0.08% FC
GW1A0388 4.00m@ 0.02%FC
GW1A0389 5.50m @ 0.15% FC
GW1A0390 10.00m @ 1.89% FC (incl. 2.00m @ 3.16% FC)
GW1A0391 8.00m@ 0.42%FC
GW1A0392 5.00m @ 0.00% FC
GW1A0393 5.50m @ 0.04% FC
GW1A0394 9.00m@ 0.09%FC
GW1A0395 5.00m @ 0.32% FC
GW1A0396 10.00m @ 0.50% FC (incl. 1.00m @ 1.00% FC)
GW1A0397 8.00m@ 0.01%FC
GW1A0398 11.00m @ 0.15% FC
GW1A0399 11.00m @ 0.45% FC
GW1A0400 11.00m@ 0.35%FC
GW1A0401 11.00m @ 0.68% FC (incl. 1.00m @ 1.06% FC)
GW1A0402 12.00m @ 0.55% FC
GW1A0403 12.00m@ 0.45%FC
GW1A0404 12.00m @ 0.27% FC
GW1A0405 5.00m @ 0.03% FC
GW1A0406 12.00m@ 0.22%FC
GW1A0407 12.00m @ 0.08% FC
GW1A0408 12.00m @ 1.81% FC (incl. 5.00m @ 2.05% FC)
GW1A0409 10.00m @ 0.90% FC (incl. 1.00m @ 1.45% FC)
GW1A0410 12.00m @ 0.26% FC
GW1A0411 12.00m @ 0.40% FC (incl. 1.00m @ 1.43% FC)
GW1A0412 10.00m @ 0.08% FC
GW1A0413 8.00m @ 0.00% FC
GW1A0414 12.00m @ 0.13% FC
GW1A0415 11.00m @ 0.38% FC
GW1A0416 12.00m @ 0.39% FC (incl. 1.00m @ 1.04% FC)
GW1A0417 6.00m @ 0.00% FC
GW1A0418 10.00m @ 0.00 FC

ASX:GW1 | greenwingresources.com Greenwing Resources Ltd ABN 31 109 933 995

28

Collar ID Weighted Average FC (%)
GW1A0419 6.00m @ 0.12% FC
GW1A0420 8.00m @ 0.15% FC
GW1A0421 7.50m @ 0.13% FC
GW1A0422 11.00m @ 0.07% FC
GW1A0423 9.00m @ 0.02% FC
GW1A0424 11.00m @ 0.00% FC
GW1A0425 9.00m @ 0.00% FC
GW1A0426 11.00m @ 0.12% FC
GW1A0427 6.00m @ 0.33% FC
GW1A0428 7.00m @ 0.23% FC
GW1A0429 8.00m @ 0.23% FC
GW1A0430 8.00m @ 0.12 % FC
GW1A0431 9.00m @ 0.10 % FC
GW1A0432 12.00m @ 0.67 % FC (incl. 4.00m @ 1.03% FC)
GW1A0433 11.00m @ 0.66 % FC (incl. 3.00m @ 1.17% FC)
GW1A0434 7.00m@ 0.48 %FC
GW1A0435 6.50m @ 0.65 % FC (incl. 1.00m @ 1.09% FC)
GW1A0436 5.50m @ 0.62 % FC
GW1A0437 [email protected]%FC (incl. [email protected]%FC)
GW1A0438 11.00m @ 1.02 % FC
GW1A0439 11.00m @ 0.49 % FC (incl. 1.00m @ 1.29% FC)
GW1A0440 8.00m@ 0.48 %FC
GW1A0441 7.00m @ 0.99 % FC (incl. 2.00m @ 1.42% FC)
GW1A0442 10.00m @ 0.74 % FC (incl. 3.00m @ 1.11% FC)
GW1A0443 11.00m@ 0.45 %FC ([email protected]%FC)
GW1A0444 11.00m @ 0.71 % FC (incl. 2.00m @ 1.30% FC)
GW1A0445 9.00m @ 0.42 % FC
GW1A0446 6.00m@ 0.88 %FC ([email protected]%FC)
GW1A0447 8.00m @ 0.78 % FC (incl. 1.00m @ 1.51% FC)
GW1A0448 11.00m @ 0.38 % FC
GW1A0449 12.00m@ 0.05 %FC
GW1A0450 11.00m @ 0.09 % FC
GW1A0451 6.00m @ 0.00 % FC
GW1A0452 7.00m@ 0.02%FC
GW1A0453 12.00m @ 0.08 % FC
GW1A0454 5.50m @ 0.83 % FC
GW1A0455 7.00m@ 0.00 %FC
GW1A0456 10.00m @ 0.00 % FC
GW1A0457 5.00m @ 0.00 % FC
GW1A0458 6.00m@ 0.00 %FC
GW1A0459 8.00m @ 0.04 % FC
GW1A0460 11.00m @ 0.46 % FC
GW1A0461 9.50m @ 0.69 % FC (incl. 3.50m @ 1.02% FC)
GW1A0462 11.00m @ 0.68 % FC (incl. 1.00m @ 1.08% FC)
GW1A0463 11.00m @ 0.62 % FC
GW1A0464 4.50m @ 0.41 % FC
GW1A0465 8.00m @ 0.41 % FC
GW1A0466 6.50m @ 0.49 % FC
GW1A0467 11.00m @ 0.16 % FC
GW1A0468 12.00m @ 0.53 % FC (incl. 1.00m @ 1.15% FC)
GW1A0469 11.00m @ 0.38 % FC
GW1A0470 6.00m @ 0.41 % FC

ASX:GW1 | greenwingresources.com Greenwing Resources Ltd ABN 31 109 933 995

29

Collar ID Weighted Average FC (%)
GW1A0471 11.00m @ 0.37 % FC
GW1A0472 8.00m @ 0.28 % FC
GW1A0473 5.50m @ 0.04 % FC
GW1A0474 11.00m @ 0.03 % FC
GW1A0475 6.00m @ 0.05 % FC
GW1A0476 11.00m @ 0.14 % FC
GW1A0477 10.00m @ 0.03 % FC
GW1A0478 11.00m @ 0.90 % FC (incl. 2.00m @ 1.56% FC)
GW1A0479 11.00m @ 0.17 % FC
GW1A0480 11.00m @ 0.61 % FC (incl. 3.00m @ 0.99% FC)
GW1A0481 5.00m @ 0.37 % FC
GW1A0482 5.00m @ 0.00 % FC
GW1A0483 8.00m @ 0.02 % FC
GW1A0484 11.00m @ 0.00 % FC
GW1A0485 11.00m @ 0.22 % FC (incl. 1.00m @ 2.26% FC)
GW1A0486 11.00m@ 0.16 %FC
GW1A0487 11.00m @ 0.00 % FC
GW1A0488 7.00m @ 0.00 % FC
GW1A0489 7.00m@ 0.00 %FC
GW1A0490 10.50m @ 1.66 % FC (incl. 2.00m @ 3.52% FC)
GW1A0491 7.00m @ 0.66 % FC (incl. 2.00m @ 1.44% FC)
GW1A0492 5.50m@ 0.00 %FC
GW1A0493 7.00m @ 0.71 % FC
GW1A0494 7.00m @ 0.93 % FC (incl. 2.00m @ 1.10% FC)
GW1A0495 5.50m@ 0.87 %FC ([email protected]%FC)
GW1A0496 6.00m @ 0.38 % FC
GW1A0497 3.50m @ 0.16 % FC
GW1A0498 1.50m@ 0.24%FC
GW1A0499 1.00m @ 0.00 % FC
GW1A0500 4.00m @ 0.24 % FC
GW1A0501 [email protected] %FC ([email protected]%FC)
GW1A0502 9.00m @ 0.86 % FC (incl. 2.00m @ 1.65% FC)
GW1A0503 9.00m @ 0.60 % FC (incl. 3.00m @ 1.29% FC)
GW1A0504 8.00m@ 0.13 %FC
GW1A0505 5.00m @ 0.31 % FC
GW1A0506 10.00m @ 1.60 % FC (incl. 4.00m @ 2.06% FC)
GW1A0507 4.00m@ 0.00 %FC
GW1A0508 5.00m @ 0.92 % FC (incl. 2.00m @ 1.06% FC)
GW1A0509 5.00m @ 1.85 % FC (incl. 2.00m @ 2.48% FC)
GW1A0510 [email protected]%FC
GW1A0511 10.00m @ 0.84 % FC (incl. 3.00m @ 1.01% FC)
GW1A0512 8.50m @ 0.80 % FC (incl. 3.50m @ 1.17% FC)
GW1A0513 10.00m @ 0.80 % FC (incl. 2.00m @ 1.01% FC)
GW1A0514 12.00m @ 0.65 % FC (incl. 1.00m @ 1.29% FC)
GW1A0515 12.00m @ 0.40 % FC
GW1A0516 6.00m @ 0.28 % FC
GW1A0517 8.00m @ 0.35 % FC
GW1A0518 5.00m @ 0.52 % FC
GW1A0519 6.50m @ 0.27 % FC
GW1A0520 4.00m @ 0.24 % FC
GW1A0521 7.00m @ 0.48 % FC
GW1A0522 6.00m @ 0.00 % FC

ASX:GW1 | greenwingresources.com Greenwing Resources Ltd ABN 31 109 933 995

30

Collar ID Weighted Average FC (%)
GW1A0523 8.00m @ 0.00 % FC
GW1A0524 9.50m @ 0.66 % FC (incl. 5.00m @ 1.09% FC)
GW1A0525 8.00m @ 0.33 % FC
GW1A0526 9.00m @ 0.53 % FC
GW1A0527 10.00m @ 0.01 % FC
GW1A0528 11.50m @ 1.18% FC (incl. 7.00m @ 1.67% FC)
GW1A0529 11.00m @ 1.08 % FC (incl. 7.00m @ 1.41% FC)
GW1A0530 7.00m @ 0.63 % FC
GW1A0531 8.00m @ 0.60 % FC
GW1A0532 6.50m @ 0.00 % FC
GW1A0533 4.50m @ 0.00 % FC
GW1A0534 8.00m @ 0.00 % FC
GW1A0535 9.00m @ 0.21 % FC
GW1A0536 9.50m @ 0.33 % FC
GW1A0537 8.50m @ 0.02 % FC
GW1A0538 11.00m@ 0.00%FC
GW1A0539 9.00m @ 0.00% FC
GW1A0540 8.00m @ 0.01% FC
GW1A0541 11.00m@ 0.00%FC
GW1A0542 6.00m @ 0.00% FC
GW1A0543 8.00m @ 0.00% FC
GW1A0544 2.50m@ 0.00%FC
GW1A0545 8.50m @ 0.00% FC
GW1A0546 8.50m @ 0.53% FC
GW1A0547 5.00m@ 0.30%FC
GW1A0548 5.50m @ 0.09% FC
GW1A0549 6.00m @ 0.30% FC
GW1A0550 7.50m@ 0.00%FC
GW1A0551 4.50m @ 0.00% FC
GW1A0552 6.00m @ 0.00% FC
GW1A0553 6.50m@ 0.03%FC
GW1A0554 8.00m @ 0.00% FC
GW1A0555 7.00m @ 0.08% FC
GW1A0556 5.50m@ 0.77%FC ([email protected]%FC)
GW1A0557 2.50m @ 0.00% FC
GW1A0558 6.00m @ 0.18% FC
GW1A0559 4.50m@ 0.57%FC
GW1A0560 7.00m @ 0.23% FC
GW1A0561 5.00m @ 0.74% FC (incl. 1.00m @ 1.18% FC)
GW1A0562 10.50m@ 3.22%FC ([email protected]%FC)
GW1A0563 9.00m @ 1.44% FC (incl. 3.00m @ 2.11% FC)
GW1A0564 12.00m @ 1.82% FC (incl. 9.00m @ 2.17% FC)
GW1A0565 9.00m @ 1.37% FC
GW1A0566 7.00m @ 0.18% FC
GW1A0567 5.00m @ 0.02% FC
GW1A0568 6.00m @ 0.00% FC
GW1A0569 5.00m @ 0.00% FC
GW1A0570 11.50m @ 1.01% FC (incl. 3.00m @ 1.70% FC)
GW1A0571 3.50m @ 0.00% FC
GW1A0572 4.50m @ 0.46% FC
GW1A0573 6.00m @ 0.09% FC
GW1A0574 3.00m @ 2.16% FC (incl. 1.00m @ 3.25% FC)

ASX:GW1 | greenwingresources.com Greenwing Resources Ltd ABN 31 109 933 995

31

Collar ID Weighted Average FC (%)
GW1A0575 4.50m @ 1.47% FC
GW1A0576 6.00m @ 0.17% FC
GW1A0577 5.00m @ 0.20% FC
GW1A0578 9.00m @ 0.09% FC
GW1A0579 4.00m @ 0.00% FC
GW1A0580 5.00m @ 0.00% FC
GW1A0581 3.50m @ 0.00% FC
GW1A0582 4.00m @ 0.00% FC
GW1A0583 8.00m @ 0.10% FC
GW1A0584 6.00m @ 0.37% FC (incl. 1.00m @ 1.02% FC)
GW1A0585 7.00m @ 0.59% FC (incl. 1.00m @ 1.52% FC)
GW1A0586 5.00m @ 0.48% FC
GW1A0587 6.00m @ 0.69% FC (incl. 1.00m @ 1.56% FC)
GW1A0588 8.00m @ 0.88% FC (incl. 2.00m @ 1.14% FC)
GW1A0589 7.50m @ 0.53% FC
GW1A0590 3.50m@ 0.02%FC
GW1A0591 3.50m @ 0.08% FC
GW1A0592 12.00m @ 0.00% FC
GW1A0593 9.00m@ 0.00%FC
GW1A0594 7.00m @ 0.00% FC
GW1A0595 8.00m @ 0.00% FC
GW1A0596 [email protected]%FC ([email protected]%FC)
GW1A0597 11.00m @ 1.11% FC
GW1A0598 7.50m @ 0.78% FC (incl. 1.50m @ 1.05% FC)
GW1A0599 8.00m@ 0.74%FC ([email protected]%FC)
GW1A0600 9.00m @ 0.19% FC
GW1A0601 7.00m @ 0.06% FC
GW1A0602 7.00m@ 0.04%FC
GW1A0603 8.00m @ 0.00% FC
GW1A0604 11.00m @ 0.03% FC
GW1A0605 8.00m@ 0.08%FC
GW1A0606 5.00m @ 0.00% FC
GW1A0607 6.00m @ 0.44% FC
GW1A0608 7.00m@ 0.95%FC (incl. [email protected]%FC)
GW1A0609 7.50m @ 0.54% FC (incl. 1.50m @ 1.02% FC)
GW1A0610 6.00m @ 0.33% FC
GW1A0611 5.50m@ 0.29%FC
GW1A0612 5.50m @ 0.21% FC
GW1A0613 3.50m @ 0.00% FC
GW1A0614 8.00m@ 0.07%FC
GW1A0615 5.00m @ 0.13% FC
GW1A0616 7.00m @ 0.11% FC
GW1A0617 8.00m @ 0.24% FC
GW1A0618 6.00m @ 0.25% FC
GW1A0619 11.00m @ 0.26% FC
GW1A0620 12.00m @ 0.44% FC
GW1A0621 7.00m @ 0.52% FC
GW1A0622 8.00m @ 0.01% FC
GW1A0623 7.00m @ 0.05% FC
GW1A0624 11.00m @ 0.11% FC
GW1A0625 8.00m @ 0.04% FC
GW1A0626 11.00m @ 0.03% FC

ASX:GW1 | greenwingresources.com Greenwing Resources Ltd ABN 31 109 933 995

32

Collar ID Weighted Average FC (%)
GW1A0627 9.00m @ 0.12% FC
GW1A0628 10.00m @ 0.65% FC
GW1A0629 8.50m @ 0.46% FC
GW1A0630 9.00m @ 0.46% FC
GW1A0631 10.00m @ 0.47% FC
GW1A0632 11.00m @ 0.52% FC
GW1A0633 9.00m @ 0.55% FC
GW1A0634 11.00m @ 0.28% FC
GW1A0635 11.00m @ 0.23% FC
GW1A0636 11.00m @ 0.17% FC
GW1A0637 7.00m @ 0.14% FC
GW1A0638 11.00m @ 0.08% FC
GW1A0639 8.00m @ 0.00% FC
GW1A0640 11.00m @ 0.00% FC
GW1A0641 11.00m @ 0.02% FC
GW1A0642 6.00m@ 0.20%FC
GW1A0643 5.50m @ 0.03% FC
GW1A0644 7.00m @ 0.00% FC
GW1A0645 6.00m@ 0.16%FC
GW1A0646 12.00m @ 0.26% FC
GW1A0647 9.00m @ 0.04% FC
GW1A0648 7.00m@ 0.01%FC
GW1A0649 12.00m @ 0.02% FC
GW1A0650 8.00m @ 0.19% FC
GW1A0651 4.50m@ 0.33%FC
GW1A0652 11.00m @ 0.26% FC
GW1A0653 6.00m @ 0.00% FC
GW1A0654 6.00m@ 0.00%FC
GW1A0655 6.00m @ 0.00% FC
GW1A0656 5.00m @ 0.00% FC
GW1A0657 5.50m@ 0.05%FC
GW1A0658 7.00m @ 0.07% FC
GW1A0659 6.00m @ 0.25% FC
GW1A0660 9.00m@ 0.12%FC
GW1A0661 8.00m @ 0.12% FC
GW1A0662 7.50m @ 0.19% FC
GW1A0663 6.00m@ 0.27%FC
GW1A0664 7.00m @ 0.00% FC
GW1A0665 6.00m @ 0.08% FC
GW1A0666 8.00m@ 0.49%FC
GW1A0667 4.00m @ 0.19% FC
GW1A0668 8.00m @ 0.10% FC
GW1A0669 8.00m @ 0.38% FC
GW1A0670 10.00m @ 0.28% FC (incl. 1.00m @ 1.03% FC)
GW1A0671 5.00m @ 0.10% FC
GW1A0672 9.00m @ 0.04% FC
GW1A0673 8.00m @ 0.00% FC
GW1A0674 10.00m @ 0.17% FC
GW1A0675 7.00m @ 0.36% FC
GW1A0676 3.00m @ 0.78% FC (incl. 1.00m @ 1.30% FC)
GW1A0677 7.00m@ 0.83%FC ([email protected]%FC)

ASX:GW1 | greenwingresources.com Greenwing Resources Ltd ABN 31 109 933 995

33

APPENDIX 4 – Andapa Auger Cross Sections

Section GW1A0235-GW1A0221

==> picture [427 x 298] intentionally omitted <==

Section GW1A0249-GW1A0240

==> picture [425 x 298] intentionally omitted <==

ASX:GW1 | greenwingresources.com

Greenwing Resources Ltd ABN 31 109 933 995

34

Section GW1A0272-GW1A0294

==> picture [425 x 299] intentionally omitted <==

Section GW1A0431-GW1A0321

==> picture [425 x 298] intentionally omitted <==

ASX:GW1 | greenwingresources.com Greenwing Resources Ltd ABN 31 109 933 995

35

Section GW1A0409-GW1A0278

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Section GW1A0505-GW1A0479

==> picture [425 x 298] intentionally omitted <==

ASX:GW1 | greenwingresources.com

Greenwing Resources Ltd ABN 31 109 933 995

36

Section GW1A0503-GW1A0500

==> picture [415 x 299] intentionally omitted <==

Section GW1A0566-GW1A0560

==> picture [425 x 298] intentionally omitted <==

ASX:GW1 | greenwingresources.com

Greenwing Resources Ltd ABN 31 109 933 995

37

Section GW1A0576-GW1A0571

==> picture [414 x 299] intentionally omitted <==

ASX:GW1 | greenwingresources.com Greenwing Resources Ltd ABN 31 109 933 995

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