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HAWK RESOURCES LIMITED. Interim / Quarterly Report 2021

Jul 29, 2021

65081_rns_2021-07-29_3a536d8a-828f-498b-8677-58c072912b0e.pdf

Interim / Quarterly Report

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ASX ANNOUNCEMENT 30 July 2021

June 2021 Quarterly Activities Report

Alderan Resources Limited (ASX: AL8) ( Alderan or the Company ) reports on its activities for the Quarter ending 30 June 2021.

HIGHLIGHTS

Detroit Project

  • Alderan’s induced polarisation (IP) geophysics at Detroit highlighted multiple copper and gold targets and strongly supports earlier magnetics and highly anomalous rock samples.

  • 3D IP and magnetic modelling of the Basin Complex highlighted potential for a ‘classic’ porphyry system.

  • Three additional chargeability anomalies have been identified – Copperhead, Northern Extension and Southern Anomaly.

  • Soil sampling completed and assaying underway.

Frisco Project

  • Rio Tinto subsidiary Kennecott Exploration completed drilling programme at Alderan’s Frisco project, with results received for final five holes.

  • Results highlighted potential for extensions to mineralisation along the Cactus-Comet trend.

  • At Accrington, there is potential for mineralisation outside known pods.

  • Kennecott confirmed ongoing commitment to Frisco exploration with drone magnetic survey.

Next Steps

  • Complete the soil programme at Detroit ahead of drilling which is due to commence in September 2021.

  • Complete the high resolution drone magnetic survey at Frisco to identify new targets for further exploration .

Commenting on the quarter, Alderan Managing Director Scott Caithness said:

“Alderan has had another productive quarter during which we made excellent progress on two key projects. At Detroit, our IP geophysics strongly supported the earlier ground magnetics and rock sampling at the Basin Complex and also highlighted three additional targets.

In addition, Rio subsidiary Kennecott Exploration completed its drilling programme at our Frisco Project. The drilling highlighted potential for extensions to mineralisation along the Cactus-Comet trend.

In the second half of 2021, Alderan looks forward to completing its soil programme and commencing drilling at Detroit. It is also looking forward to the results of Kennecott’s high resolution drone magnetic surveys at Frisco.”

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ASX ANNOUNCEMENT 30 July 2021

Detroit Project

During the quarter, Alderan announced the results from an induced polarisation ( IP ) geophysical survey completed over the central portion of its Detroit Project, located in the Drum Mountains region of western Utah, USA. The survey strongly supports the previously released[1] ground magnetic results and enhances the potential of the area to host multiple gold and copper deposits.

Alderan has a consolidated exploration area at Detroit covering 24.7km[2 ] through a series of option agreements with tenement owners.[2] This provides the Company with the opportunity to conduct the first ever modern exploration over the entire mining district. Following consolidation, Alderan compiled past exploration data and completed stream sediment and rock sampling plus ground magnetics. This followed its earlier drill program of seven holes at the Mizpah prospect.[3] The results highlight potential for significant copper and gold mineralisation.

Detroit Induced Polarisation Survey

Alderan completed an IP geophysical survey over the central portion of the Detroit project area. The survey objective was to identify electrically chargeable and/or conductive bodies potentially caused by copper and gold mineralisation and altered host rocks. It was designed to cover the prospective area, including the Basin Complex and Copperhead prospects, identified from the ground magnetic survey completed in early May. The survey area and ground magnetics is shown in Figure 1.

==> picture [287 x 349] intentionally omitted <==

Figure 1 : Detroit Induced polarization survey lines on reduced to pole magnetics.

1 Alderan ASX Announcement dated 11 May 2021.

2 Alderan ASX Announcement dated 11 February 2021.

3 Alderan ASX Announcement dated 22 February 2021.

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ASX ANNOUNCEMENT 30 July 2021

Contractor SJ Geophysics acquired a total of 29.2 line kilometres of Volterra 2-D distributed dipole-dipole array chargeability and resistivity data on 11 parallel lines spaced 200m apart and oriented N60E. Each line consists of 2,000m of receiver dipoles (d=100m) and incorporates three additional current injection dipoles beyond each line end for added sensitivity at the edge of the survey. The data was provided to Bolin Geophysical Services for processing and 3-D IP inversion modelling using the RES3DINV software.

Survey Results

Basin Complex

The chargeability and resistivity inversion models for the Basin Complex are consistent with a porphyry intrusive complex and strongly support the magnetic susceptibility 3D model. The highest chargeability responses occur in an arcuate magnetic low surrounding the central Basin Main magnetic high. This is interpreted to be a halo of pyrite rich, magnetite destructive phyllic alteration extending outward from a potassic altered core containing magnetite. Modelling indicates that the highly chargeable (>40msec) zone is mushroom shaped, approximately 1km in diameter near surface, and narrows to a diameter of approximately 200m at 700m below surface (Figure 2).

==> picture [518 x 293] intentionally omitted <==

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

Copperhead
Northern Extension
Southern Anomaly
Basin Complex
chargeability anomaly
Basin Main
magnetic anomaly
----- End of picture text -----

Figure 2 : Detroit IP & magnetic models: showing chargeability anomalies (yellow isosurfaces) at >40 milliseconds and the magnetic anomalies (red isosurfaces) at >0.03 SI units. Looking northwest.

The Basin Main magnetic and chargeability anomalies sit within a broad resistivity low. Electrically resistive unaltered sedimentary rocks occur on the eastern and western margins of the survey area (Figure 3).

Figure 4 shows the chargeability model at a series of increasing cutoffs that demonstrate that the Basin Main magnetic anomaly is less chargeable than the non-magnetic arc which surrounds it. This suggests that the Basin Main magnetic anomaly may be associated with less chargeable but interconnected sulphide minerals such as copper rich chalcopyrite, chalcocite and bornite whereas the highly chargeable non-magnetic arc surrounding it is interpreted to be due to disseminated pyrite in phyllic alteration.

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ASX ANNOUNCEMENT 30 July 2021

==> picture [518 x 293] intentionally omitted <==

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

Basin Complex
chargeability anomaly
Basin Main
magnetic anomaly
Low resistivity
----- End of picture text -----

Figure 3: Resistivity cross section through the Basin Complex chargeability and magnetics inversion models (chargeability yellow isosurface; magnetics red isosurface). The blue zones surrounding the Basin Complex anomaly are resistivity lows interpreted to be caused by propylitic clay alteration defining the limits of the complex. More resistive zones (red) can be seen on the eastern and western margins of the section. Northwest view.

Copperhead

A prominent chargeability anomaly (>40msec) lies approximately 300m to the south-southeast of the historical Copperhead mine and 200m to the south of the Copperhead magnetic anomaly highlighted by Alderan’s exploration at Copperhead has now identified prominent magnetic and chargeability anomalies with associated gold and copper grades up to 9.1g/t and 3.2% respectively in rocks in and around this historical mine.

Northern Extension

The Northern Extension chargeability anomaly (>40msec) is a new target which extends for approximately 700m north of the Basin Complex. It is approximately 200m wide in its central portion and appears to be stratigraphically controlled along the contact zone between the highly prospective Tatow limestone member and the Pioche Formation. Alderan’s drill hole to the south, DD20M-006, which intersected 83m grading 0.41g/t gold from 36m downhole lies in this stratigraphic position. Two rock samples collected from an east-west trending jasperoid in the hanging wall of the anomaly assayed 0.55g/t and 1.22g/t gold.

Southern Anomaly

The Southern Anomaly (>40msec) is also a new target which lies approximately 1km south of the Basin Main anomaly and 500m east of the historical EPH mine. Its dimensions are 500m north-south and 300m east-west at the >40msec cutoff used for anomaly identification. It is a large intense chargeability anomaly which is still clearly evident in the inversion model at the higher >60msec cutoff. The anomaly sits within the favourable Wheeler Shale unit which contains historic gold and copper mines developed on jasperoids along ENE faults.

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ASX ANNOUNCEMENT 30 July 2021

Figure 4: Plan views showing the chargeability inversion model isosurface at increasing cutoffs of >40, >50 and >60 milliseconds overlain on a reduced to pole magnetics. The series highlights that the Basin Main magnetic anomaly is a less intense chargeability anomaly than its surrounding magnetic low suggesting that it may be caused by interconnected copper sulphides such as chalcopyrite, chalcocite and bornite.

==> picture [243 x 291] intentionally omitted <==

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

Northern Extension
Copperhead
Basin Main
Basin Complex
Chargeability
Southern Anomaly
----- End of picture text -----

Figure 4A: Reduced to pole magnetics draped over chargeability inversion model at >40msec cutoff showing the embayment in chargeability immediately north of the Basin Main magnetic anomaly. Also note the chargeability anomalies at Copperhead, Northern Extension and Southern Anomaly.

==> picture [236 x 288] intentionally omitted <==

Figure 4B : Reduced to pole magnetics draped over chargeability inversion model at >50msec cutoff. Note the embayment in chargeability now extends into the Basin Main anomaly.

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ASX ANNOUNCEMENT 30 July 2021

==> picture [233 x 284] intentionally omitted <==

Figure 4C: Reduced to pole magnetics draped over chargeability inversion model at >60msec cutoff. The Basin Main anomaly is no longer chargeable however the chargeability anomaly continues to arc around it.

Petrography

Following the end of the quarter, Alderan received the results of petrographic examinations carried out on drill core from hole DD20M-003 which was drilled towards the Basin Main magnetic anomaly in 2020 prior to the anomaly being defined[4] . The petrography confirmed the samples consist dominantly of potassic altered porphyry overprinted by sericite, chlorite, carbonate and clay alteration. Copper (chalcopyrite, bornite, chalcocite & covellite) +/- molybdenum mineralisation occurs in all samples. The intensity of alteration and mineralisation increases with depth. The results are consistent with classic porphyry alteration and mineralisation zoning.

Next Steps

Grid soil sampling every 40m along lines 200m apart has been completed over the prospective stratigraphy and intrusives at Detroit with sample preparation for analysis underway. A total of 2,200 samples were collected. Assaying will initially be done using a portable XRF before samples are sent to a laboratory for final analysis. The soil assays will assist in prioritising drill targets.

The IP grid will be extended to the north and south to close off anomalies identified at Copperhead and Mizpah. One additional line will be acquired to the north of existing coverage at Copperhead and two additional lines to the south will provide context to the Mizpah occurrence where anomalous chargeability appears to follow favorable stratigraphy which is open to the south.

Alderan has locked in a diamond rig to commence drilling in September. Final hole locations will be determined following integration of all geochemistry, geophysics and geology data.

Frisco Project

During the quarter, Alderan announced the second batch of results from drilling completed by Rio Tinto subsidiary, Kennecott Exploration Company ( KEX ), at the Company’s Frisco Project.

4 Alderan ASX announcement dated 21 July 2021.

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ASX ANNOUNCEMENT 30 July 2021

The Frisco Project lies approximately 300km southwest of Salt Lake City in Utah (Figure 5) and contains numerous historical copper-gold and lead-zinc-silver mines such as the Horn Silver mine and the Cactus and Imperial copper mines. Mineralisation at Frisco consists of skarn or carbonate replacement deposits containing copper and other base and precious metals at Accrington, plus breccia-hosted copper-gold-silver mineralisation such as at the Cactus mine. Historical exploration has also intersected copper-molybdenum mineralisation within several deeper holes in the Upper Cactus Canyon.

Frisco was explored historically for copper and gold, including by Alderan, prior to signing an agreement with KEX in November 2019. Under the terms of the farm in agreement, KEX can earn up to a 70% interest in the project through spending US$30 million on exploration in three stages over a total of 10 years.

==> picture [361 x 272] intentionally omitted <==

Figure 5 : Alderan project locations

KEX exploration targets at Frisco are:

  • 1) Porphyry copper-gold-molybdenum deposits: and

  • 2) High-grade copper deposits associated with known breccias such as Cactus.

KEX completed nine holes at Frisco (Figure 6), with results for holes SAWM0001-0004 released by Alderan on 11 March 2021. The 11 June 2021 announcement covered the results for holes SAWM0005-0009, of which hole SAWM0007 was abandoned due to difficult ground conditions and hole SAWM0009 was stopped short of its target depth.

Drilling Results[5]

Three of the holes (SAWM0005, 0006 and 0008) targeted the previously drilled Cactus-Comet Breccia zone. The final hole (SAWM0009) was drilled on a new target at Reciprocity.

Hole SAWM0005 was drilled at Cactus to test the concept that the tourmaline breccias and associated sulphide mineralisation occurs along WNW-ENE dilational zones. The hole intersected limited zones of tourmaline breccia and mineralisation with the best intersection being 16.7m grading 0.29% copper and 1.6g/t gold from 201.8m

5 Alderan ASX announcement dated 11 June 2021.

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ASX ANNOUNCEMENT 30 July 2021

downhole. This intersection contains separate spot high assays of 23.2g/t gold and 1.35% copper over intervals of 1.08m and 1.33m respectively.

Hole SAWM0006 was drilled into a magnetic low anomaly below the Comet Breccia. This anomaly was interpreted to be similar to the magnetic response below the Cactus Breccia. The hole intersected only minor sulphide mineralisation, no significant tourmaline breccia and had no significant assays.

Hole SAWM0007 was abandoned at a depth of 59.9m due to drilling muds leaking from the side of the drill pad. The incident was reported to Utah state authorities for their guidance on remediation. No core was logged or sampled from this hole.

==> picture [369 x 392] intentionally omitted <==

Figure 6: Frisco tenement showing KEX drillhole locations

Hole SAWM0008 was a repositioned re-drill of SAWM0007 to test the southern side of the Cactus Breccia body. The hole was collared amongst most of the historic drill holes and aimed to avoid the old underground workings. The hole intersected limited copper sulphide and molybdenum mineralisation in veins plus/minus tourmaline within a monzonite. Assays highlighted a zone from 313.2m-343.5m (30.3m) grading 0.24% copper, 105ppm molybdenum.

Hole SAWM0009 at Reciprocity was designed as a large step-out to the northwest of SAWM0003 to further test the chargeability IP geophysical anomaly and intersect the andesite porphyry. The hole was terminated short of its target depth at 459m. There are no significant assays.

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ASX ANNOUNCEMENT 30 July 2021

The nine-hole drilling program completed by KEX largely focussed on assessing the Cactus and Comet breccia pipes below and peripheral to exploration done by Alderan and others. Five holes were drilled into these targets. Significant results for all holes are shown in Table 1 of the 11 June 2021 announcement.

The Cactus drillholes confirm the copper-rich pipe extends to a depth of over 200m below surface with hole SAWM0001 intersecting 41m grading 1.9% Cu, 0.62g/t Au and 62.8ppm Mo from 252m downhole. Potentially significant gold and copper mineralisation was intersected in extension drilling in holes SAWM0005 and SAWM0008. Shallow drilling in the zone between the Cactus and Comet Breccia pipes also intersected moderate gold grades in hole SAWM0002 indicating that potential still exists for mineralisation between these pipes. The highest grades of mineralisation intersected at Cactus and Comet are associated with tourmaline breccias.

At Accrington, hole SAWM0004 highlights the potential for significant mineralisation beyond previously defined ‘pods’ in an area of historical mining activity.

The Reciprocity holes, SAWM0003 and SAWM0009, were designed to test a large IP chargebility anomaly. Neither hole intersected significant mineralisation to explain the source of the IP anomaly. Hole SAWM0009 did not reach its target depth, hence the result is inconclusive.

Next Steps

Following a review of the geophysical and drilling results, KEX is planning a high-resolution drone magnetic geophysical survey (Figure 7) to improve the geological and structural understanding of the project area, to better define known magnetic anomalies and to identify new targets for further exploration. This survey is expected to be completed in early Q3 CY21 ahead of a decision on further drilling.

==> picture [357 x 380] intentionally omitted <==

Figure 7: Frisco tenement showing outline of proposed drone magnetic survey

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ASX ANNOUNCEMENT 30 July 2021

Valley Crossroads Project – Black Rock Prospect

During the quarter, Alderan announced the results of a three-hole drilling programme at its Black Rock prospect within the Valley Crossroads joint venture tenement.

The Black Rock prospect lies within the Valley Crossroads project where Alderan is earning up to a 70% interest from Tamra Mining Company LLC. Alderan’s three-hole, first-pass drilling program totalling 1,050m aimed to test the contact zone between dolomitic marble and monzonite intrusive where rock chip samples collected over a 400m x 200m area assayed up to 4.6g/t gold and 10.15% copper and inversion modelling of aeromagnetic data indicated potential for thickening of a magnetite-rich calcsilicate skarn body, which is mapped at surface.

No significant assays were obtained from Alderan’s drillhole samples, with the best intersection being 5.5m grading 0.31g/t gold from 96.5m in hole VC21B_001. The aeromagnetic anomaly is interpreted to be caused by magnetite in intrusives.

Corporate

Extraordinary General Meeting

Alderan convened an Extraordinary General Meeting of Shareholders on 27 May 2021 to consider resolutions ratifying the issue of shares in connection with a placement announced on 30 November 2020 and the proposed issue of Options to Mr Scott Caithness under the Company’s Employee Securities Incentive Plan. All meeting resolutions were voted upon by poll and passed.

Appendix 5B Disclosures

In line with its obligations under ASX Listing Rule 5.3.5, the Company notes that the only payments to related parties of the Company, as disclosed in the Appendix 5B (quarterly Cashflow Report) for the period ended 30 June 2021, pertain to payments to executive directors for salary and non-executive director fees.

During the quarter ended 30 June 2021, the Company spent approximately $616,000 on project and exploration activities relating to its projects in Utah and $65,000 on tenement acquisition costs. At the Detroit Mining project, Alderan completed an IP geophysical survey over the central portion of the project area. It also compiled and reviewed past exploration data on the newly acquired areas; including completed stream sediment and rock sampling plus ground magnetics. The expenditure represents direct costs associated with these activities as well as capitalised wages which can be directly attributable to the exploration activities. The Company also incurred approximately $65,000 (US$50,000) in acquisition costs which related to the quarterly payment in relation to the Option to Purchase 60 patented claims under the Miller/Myer option agreement.

Changes in Claims / Tenements During the Quarter

Refer Appendix A for list of claims held as at 30 June 2021.

This announcement was authorised for release by the Board of Alderan Resources Limited.

ALDERAN RESOURCES LIMITED ABN: 55 165 079 201 Suite 23, 513 Hay Street, Subiaco, 6008, WA www.alderanresources.com.au

For further information: e: [email protected]

p: +61 8 6143 6711 Scott Caithness Managing Director [email protected]

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ASX ANNOUNCEMENT 30 July 2021

Competent Persons Statement

The information in this announcement that relates to historical exploration results were reported by the Company in accordance with listing rule 5.7 on 21 July 2021, 11 June 2021, 11 May 2021 and 22 February 2021. The Company confirms it is not aware of any new information or data that materially affects the information included in the previous announcement.

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ASX ANNOUNCEMENT 30 July 2021

Appendix A - Details of Mining Tenements Held at 30 June 2021

Unpatented Mining Claims - Volantis Resources Corp

Claim Name Serial No. Beaver Co Document No.
AW 1 437250 264029
AW 2 437251 264030
AW 3 437252 264031
AW 4 437253 264032
AW 5 437254 264033
AW 6 437255 264034
AW 7 437256 264035
AW 8 437257 264036
AW 9 437258 264037
AW 10 437259 264038
AW 11 437260 264039
AW 12 437261 264040
AW 13 437262 264041
AW 14 437263 264042
AW 15 437264 264043
AW 16 437265 264044
AW 17 437266 264045
AW 18 437267 264046
AW 19 437268 264047
AW 20 437269 264048
AW 21 437270 264049
AW 22 437271 264050
AW 23 437272 264051
AW 24 437273 264052
AW 25 437274 264053
AW 26 437275 264054
AW 27 437276 264055
AW 28 437277 264056
AW 29 437278 264057
AW 30 437279 264058
AW 31 437280 264059
CT 1 426677 258648
CT 2 426678 258649
CT 3 426679 258650
CT 4 426680 258651
CT 5 426681 258652
CT 6 426682 258653
CT 7 426683 258654
CT 8 426684 258655
CT 9 426685 258656
CT 10 426686 258657
CT 11 426687 258658
CT 12 426688 258659
CT 13 426689 258660
CT 14 426690 258661
CT 15 426691 258662
CT 16 426692 258663
CT 17 426693 258664
CT 18 426694 258665
CT 19 426695 258666
CT 20 426696 258667
CT 21 426697 258668
CT 22 426698 258669
CT 23 426699 258670
CT 24 426700 258671
CT 25 426701 258672
CT 26 426702 258673
CT 27 426703 258674
CT 28 426704 258675
CT 29 426705 258676
CT 30 426706 258677
CT 33 426709 258680
CT 34 426710 258681

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ASX ANNOUNCEMENT 30 July 2021

CT 35 426711 258682
CT 36 426712 258683
CT 37 426713 258684
CT 38 426714 258685
CT 39 426715 258686
CT 40 426716 258687
CT 41 426717 258688
CT 42 426718 258689
CT 43 426719 258690
CT 44 426720 258691
CT 45 426721 258692
CT 46 426722 258693
SF 82 426723 258694
CT 47 426967 258845
CT 48 426968 258846
CT 49 426969 258847
CT 50 426970 258848
CT 51 426971 258849
CT 52 426972 258850
CT 53 426973 258851
CT 54 426974 258852
CT 55 426975 258853
CT 56 426976 258854
CT 57 426977 258855
CT 58 426978 258856
CT 59 426979 258857
CT 60 426980 258858
CT 61 426981 258859
CT 62 426982 258860
CT 63 426983 258861
CT 64 426984 258862
CT 65 426985 258863
CT 66 426986 258864
CT 67 426987 258865
CT 68 426988 258866
CT 69 426989 258867
CT 70 426990 258868
CT 71 426991 258869
CT 72 426992 258870
CT 73 426993 258871
CT 74 426994 258872
CT 75 426995 258873
CT 76 426996 258874
CT 77 426997 258875
CT 101 434804 261072
CT 102 434805 261073
CT 103 434806 261074
CT 104 434807 261075
CT 105 434808 261076
CT 106 434809 261077
CT 107 434810 261078
CT 108 434811 261079
CT 109 434812 261080
CT 110 434813 261081
CT 111 434814 261082
CT 112 434815 261083
CT 113 434816 261084
CT 114 434817 261085
CT 115 434818 261086
CT 116 434819 261087
CT 117 434820 261088
CT 118 434821 261089
CT 119 434822 261090
CT 120 434823 261091
CT 121 434824 261092
CT 122 434825 261093
CT 123 434826 261094
CT 124 434827 261095
CT 125 434828 261096
CT 126 434829 261097

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ASX ANNOUNCEMENT 30 July 2021

CT 127 434830 261098
CT 128 434831 261099
CT 129 434832 261100
CT 130 434833 261101
CT 131 434834 261102
CT 132 434835 261103
NW 101 434836 261104
NW 102 434837 261105
NW 103 434838 261106
NW 104 434839 261107
NW 105 434840 261108
NW 106 434841 261109
NW 107 434842 261110
NW 108 434843 261111
NW 109 434844 261112
NW 110 434845 261113
NW 111 434846 261114
NW 112 434847 261115
NW 113 434848 261116
NW 114 434849 261117
NW 115 434850 261118
NW 116 434851 261119
NW 117 434852 261120
NW 118 434853 261121
NW 119 434854 261122
NW 120 434855 261123
NW 121 434856 261124
NW 122 434857 261125
NW 123 434858 261126
NW 124 434859 261127
NW 125 434860 261128
NW 126 434861 261129
NW 127 434862 261130
NW 128 434863 261131
NW 129 434864 261132
NW 130 434865 261133
NW 131 434866 261134
NW 132 434867 261135
NW 133 434868 261136
NW 134 434869 261137
NW 135 434870 261138
NW 136 434871 261139
NW 137 434872 261140
NW 138 434873 261141
NW 139 434874 261142
NW 141 434875 261143
NW 142 434876 261144
LIR 31 434877 261145
NW 1 428552 259870
NW 2 428553 259871
NW 3 428554 259872
NW 4 428555 259873
NW 5 428556 259874
NW 6 428557 259875
NW 7 428558 259876
NW 8 428559 259877
NW 9 428560 259878
NW 10 428561 259879
NW 11 428562 259880
NW 12 428563 259881
NW 13 428564 259882
NW 14 428565 259883
NW 15 428566 259884
NW 16 428567 259885
CT 78 428568 259886
SF 82 428569 259887
SF 83 428570 259888
SF 84 428571 259889
SF 85 428572 259890
NW 17 435319 261331

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ASX ANNOUNCEMENT 30 July 2021

NW 18 435320 261332
SF 1 426435 258176
SF 2 426436 258177
SF 3 426437 258178
SF 4 426438 258179
SF 5 426439 258180
SF 6 426440 258181
SF 7 426441 258182
SF 8 426442 258183
SF 9 426443 258184
SF 10 426444 258185
SF 11 426445 258186
SF 12 426446 258187
SF 13 426447 258188
SF 14 426448 258189
SF 15 426449 258190
SF 16 426450 258191
SF 17 426451 258192
SF 18 426452 258193
SF 19 426453 258194
SF 20 426454 258195
SF 21 426455 258196
SF 22 426456 258197
SF 23 426457 258198
SF 24 426458 258199
SF 25 426459 258200
SF 26 426460 258201
SF 27 426461 258202
SF 28 426463 258269
SF 29 426464 258270
SF 30 426465 258271
SF 31 426466 258272
SF 32 426467 258273
SF 33 426468 258274
SF 34 426469 258275
SF 35 426470 258276
SF 36 426471 258277
SF 37 426472 258278
SF 38 426473 258279
SF 39 426474 258280
SF 40 426475 258281
SF 41 426476 258282
SF 42 426477 258283
SF 43 426478 258284
SF 44 426479 258285
SF 45 426480 258286
SF 46 426481 258287
SF 47 426482 258288
SF 48 426483 258289
SF 49 426484 258290
SF 50 426485 258291
SF 51 426486 258292
SF 52 426487 258293
SF 53 426488 258294
SF 54 426489 258295
SF 55 426490 258296
SF 56 426491 258297
SF 57 426492 258298
SF 58 426493 258299
SF 59 426494 258300
SF 60 426495 258301
SF 61 426496 258302
SF 62 426497 258303
SF 63 426498 258304
SF 64 426499 258305
SF 65 426500 258306
SF 66 426501 258307
SF 67 426502 258308
SF 69 426503 258309
SF 70 426504 258310

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ASX ANNOUNCEMENT 30 July 2021

SF 71 426505 258311
SF 72 426506 258312
SF 73 426507 258313
SF 74 426508 258314
SF 75 426509 258315
SF 76 426510 258316
SF 77 426511 258317
SF 78 426512 258318
SF 79 426513 258319
SF 80 426514 258320
SF 81 426515 258321
WC 1 437525 264251
WC 2 437526 264252
WC 3 437527 264253
WC 4 437528 264254
WC 5 437529 264255
WC 6 437530 264256
WC 7 437531 264257
WC 8 437532 264258
WC 9 437533 264259
WC 10 437534 264260
WC 11 437535 264261
WC 12 437536 264262
WC 13 437537 264263
WC 14 437538 264264
WC 15 437539 264265
WC 16 437540 264266
WC 17 437541 264267
WC 18 437542 264268
WC 19 437543 264269
WC 20 437544 264270
WC 21 437545 264271
WC 22 437546 264272
WC 23 437547 264273
WC 24 437548 264274
WC 25 437549 264275
WC 26 437550 264276
WC 27 437551 264277
WC 28 437552 264278
WC 29 437553 264279
WC 30 437554 264280
WC 31 437555 264281
WC 32 437556 264282
WC 33 437557 264283
WC 34 437558 264284
WC 35 437559 264285
WC 36 437560 264286
WC 37 437561 264287
WC 38 437562 264288
WC 39 437563 264289
WC 40 437564 264290
WC 41 437565 264291
WC 42 437566 264292
WC 43 437567 264293
WC 44 437568 264294
WC 45 437569 264295
WC 46 437570 264296
WC 47 437571 264297
WC 48 437572 264298
WC 49 437573 264299
WC 50 437574 264300
WC 51 437575 264301
WC 52 437576 264302
WC 53 437577 264303
WC 54 437578 264304
WC 55 437579 264305
WC 56 437580 264306
WC 57 437581 264307
WC 58 437582 264308

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ASX ANNOUNCEMENT 30 July 2021

White Mountain Group

Claim Name Serial No. Beaver Co. Document No.
WM 1 UMC 442729 267521
WM 2 UMC 442730 267522
WM 3 UMC 442731 267523
WM 4 UMC 442732 267524
WM 5 UMC 442733 267525
WM 6 UMC 442734 267526
WM 7 UMC 442735 267527
WM 8 UMC 442736 267528
WM 9 UMC 442737 267529
WM 10 UMC 442738 267530
WM 11 UMC 442739 267531
WM 12 UMC 442740 267532
WM 13 UMC 442741 267533
WM 14 UMC 442742 267534
WM 15 UMC 442743 267535
WM 16 UMC 442744 267536
WM 17 UMC 442745 267537
WM 18 UMC 442746 267538
WM 19 UMC 442747 267539
WM 20 UMC 442748 267540
WM 21 UMC 442749 267541
WM 22 UMC 442750 267542
WM 23 UMC 443915 267930
WM 24 UMC 443916 267931
WM 25 UMC 443917 267932
WM 26 UMC 443918 267933
WM 27 UMC 443919 267934
WM 28 UMC 443920 267935
WM 29 UMC 443921 267936
WM 30 UMC 443922 267937
WM 31 UMC 443923 267938
WM 32 UMC 443924 267939
WM 33 UMC 443925 267940
WM 34 UMC 443926 267941
WM 35 UMC 443927 267942
WM 36 UMC 443928 267943
WM 37 UMC 443929 267944
WM 38 UMC 443930 267945
WM 39 UMC 443931 267946
WM 40 UMC 443932 267947
WM 41 UMC 443933 267948
WM 42 UMC 443934 267949
WM 43 UMC 443935 267950
WM 44 UMC 443936 267951
WM 45 UMC 443937 267952
WM 46 UMC 443938 267953
WM 47 UMC 443939 267954
WM 48 UMC 443940 267955
WM 49 UMC 443941 267956
WM 50 UMC 443942 267957
WM 51 UMC 443943 267958
WM 52 UMC 443944 267959
WM 53 UMC 443945 267960
WM 54 UMC 443946 267961
WM 55 UMC 443947 267962
WM 56 UMC 443948 267963
WM 57 UMC 443949 267964
WM 58 UMC 443950 267965
WM 59 UMC 443951 267966
WM 60 UMC 443952 267967
WM 61 UMC 443953 267968
WM 62 UMC 443954 267969
WM 63 UMC 443955 267970
WM 64 UMC 443956 267971
WM 65 UMC 443957 267972
WM 66 UMC 443958 267973
WM 67 UMC 443959 267974

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ASX ANNOUNCEMENT 30 July 2021

WM 68 UMC 443960 267975
WM 69 UMC 443961 267976
WM 70 UMC 443962 267977
WM 71 UMC 443963 267978
WM 72 UMC 443964 267979
WM 73 UMC 443965 267980
WM 74 UMC 443966 267981
WM 75 UMC 443967 267982
WM 76 UMC 443968 267983
WM 77 UMC 443969 267984
WM 78 UMC 443970 267985
WM 79 UMC 443971 267986
WM 80 UMC 443972 267987
WM 81 UMC 443973 267988
WM 82 UMC 443974 267989
WM 83 UMC 443975 267990
WM 84 UMC 443976 267991
WM 85 UMC 443977 267992
WM 86 UMC 443978 267993
WM 87 UMC 443979 267994
WM 88 UMC 443980 267995
WM 89 UMC 443981 267996
WM 90 UMC 443982 267997
WM 91 UMC 443983 267998
WM 92 UMC 443984 267999
WM 93 UMC 443985 276800
WM 94 UMC 443986 276801
WM 95 UMC 443987 276802

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ASX ANNOUNCEMENT 30 July 2021

Unpatented Mining Claims - Valyrian Resources Corp

Claim Name Serial No. Beaver Co Document No.
BR 1 446780 270617
BR 2 446781 270618
BR 3 446782 270619
BR 4 446783 270620
BR 5 446784 270621
BR 6 446785 270622
BR 7 446786 270623
BR 8 446787 270624
BR 9 446788 270625
BR 10 446789 270626
BR 11 446790 270627
BR 12 446791 270628
BR 13 446792 270629
BR 14 446793 270630
BR 15 446794 270631
BR 16 446795 270632
BR 17 446796 270633
BR 18 446797 270634
BR 19 446798 270635
BR 20 446799 270636
BR 21 446800 270637
BR 22 446801 270638
BR 23 446802 270639
BR 24 446803 270640
BR 25 446804 270641
BR 26 446805 270642
BR 27 446806 270643
BR 28 446807 270644
BR 29 446808 270645
BR 30 446809 270646
BR 31 446810 270647
BR 32 446811 270648
BR 33 446812 270649
BR 34 446813 270650
BR 35 446814 270651
BR 36 446815 270652
BR 37 446816 270653
BR 38 446817 270654
BR 39 446818 270655
BR 40 446819 270656
BR 41 446820 270657
BR 42 446821 270658
BR 43 446822 270659
BR 44 446823 270660
BR 45 446824 270661
BR 46 446825 270662
BR 47 446826 270663
BR 48 446827 270664
BR 49 446828 270665
BR 50 446829 270666
BR 51 446830 270667
BR 52 446831 270668
BR 53 446832 270669
BR 54 446833 270670
BR 55 446834 270671
BR 56 446835 270672
BR 57 446836 270673
BR 58 446837 270674
BR 59 446838 270675
BR 60 446839 270676
BR 61 446840 270677
BR 62 446841 270678
BR 63 446842 270679
BR 64 446843 270680
BR 65 446844 270681
BR 66 446845 270682
BR 67 446846 270683

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ASX ANNOUNCEMENT 30 July 2021

BR 68 446847 270684
BR 69 446848 270685
BR 70 446849 270686
BR 71 446850 270687
BR 72 446851 270688
BR 73 446852 270689
BR 74 446853 270690
BR 75 446854 270691
BR 76 446855 270692
BR 77 446856 270693
BR 78 446857 270694
BR 79 446858 270695
BR 80 446859 270696
BR 81 446860 270697
BR 82 446861 270698
BR 83 446862 270699
BR 84 446863 270700
BR 85 446864 270701
BR 86 446865 270702
BR 87 446866 270703
BR 88 446867 270704
BR 89 446868 270705
BR 90 446869 270706
BR 91 446870 270707
BR 92 446871 270708
BR 93 446872 270709
BR 94 446873 270710
BR 95 446874 270711
BR 96 446875 270712
BR 97 446876 270713
BR 98 446877 270714
BR 99 446878 270715
ND 1 446879 270716
ND 2 446880 270717
ND 3 446881 270718
ND 4 446882 270719
ND 5 446883 270720
ND 6 446884 270721
ND 7 446885 270722
ND 8 446886 270723
ND 9 446887 270724
ND 10 446888 270725
ND 11 446889 270726
ND 12 446890 270727
ND 13 446891 270728
ND 14 446892 270729
ND 15 446893 270730
ND 16 446894 270731
ND 17 446895 270732
ND 18 446896 270733
ND 19 446897 270734
ND 20 446898 270735
ND 21 446899 270736
ND 22 446900 270737
ND 23 446901 270738
ND 24 446902 270739
ND 25 446903 270740
ND 26 446904 270741
ND 27 446905 270742
ND 28 446906 270743
ND 29 446907 270744
ND 30 446908 270745
ND 31 446909 270746
ND 32 446910 270747
ND 33 446911 270748
ND 34 446912 270749
ND 35 446913 270750
ND 36 446914 270751
ND 37 446915 270752
ND 38 446916 270753

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ASX ANNOUNCEMENT 30 July 2021

ND 39 446917 270754
ND 40 446918 270755
ND 41 446919 270756
ND 42 446920 270757
ND 43 446921 270758
ND 44 446922 270759
ND 45 446923 270760
ND 46 446924 270761
ND 47 446925 270762
ND 48 446926 270763
ND 49 446927 270764
ND 50 446928 270765
ND 51 446929 270766
ND 52 446930 270767
ND 53 446931 270768
ND 54 446932 270769
ND 55 446933 270770
ND 56 446934 270771
ND 57 446935 270772
ND 58 446936 270773
ND 59 446937 270774
ND 60 446938 270775
ND 61 446939 270776
ND 62 446940 270777
ND 63 446941 270778
ND 64 446942 270779
ND 65 446943 270780
ND 66 446944 270781
ND 67 446945 270782
ND 68 446946 270783
ND 69 446947 270784
ND 70 446948 270785
ND 71 446949 270786
ND 72 446950 270787
ND 73 446951 270788
ND 74 446952 270789
ND 75 446953 270790
ND 76 446954 270791
ND 77 446955 270792
ND 78 446956 270793
ND 79 446957 270794
ND 80 446958 270795
ND 81 446959 270796
ND 82 446960 270797
ND 83 446961 270798
ND 84 446962 270799
ND 85 446963 270800
ND 86 446964 270801
ND 87 446965 270802
ND 88 446966 270803
ND 89 446967 270804
LP 1 UMC 447645 272099
LP 2 UMC 447646 272100
LP 3 UMC 447647 272101
LP 4 UMC 447648 272102
LP 5 UMC 447649 272103
LP 6 UMC 447650 272104
LP 7 UMC 447651 272105
LP 8 UMC 447652 272106
LP 9 UMC 447653 272107
LP 10 UMC 447654 272108
LP 11 UMC 447655 272109
LP 12 UMC 447656 272110
LP 13 UMC 447657 272111
LP 14 UMC 447658 272112
LP 15 UMC 447659 272113
LP 16 UMC 447660 272114
LP 17 UMC 447661 272115
LP 18 UMC 447662 272116

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ASX ANNOUNCEMENT 30 July 2021

LP 19 UMC 447663 272117
LP 20 UMC 447664 272118
LP 21 UMC 447665 272119
LP 22 UMC 447666 272120
LP 23 UMC 447667 272121
LP 24 UMC 447668 272122
LP 25 UMC 447669 272123
LP 26 UMC 447670 272124
LP 27 UMC 447671 272125
LP 28 UMC 447672 272126
LP 29 UMC 447673 272127
LP 30 UMC 447674 272128

Utah State Lease for Metalliferous Minerals (ML53495)

Lessee Effective Term Rent Premises Acres Date Valyrian 1 November 10 USD$1 T28S, R11W, SLB&M 817.08 Resources Corp. 2017 per acre Sec. 27: E2NE4 T28S, R12W, SLB&M Sec. 2: Lots 1(24.31), 2 (24.28), 3 (24.26), 4 (24.23), 5 (40.00), 6 (40.00), 7 (40.00), 8 (40.00), S2N2, S2 (ALL)

Lessee Effective Term Rent Premises Acres Date Valyrian 1 March 10 USD$1 Sec 32: T14S, R10W, 640.00 Resources Corp. 2021 per acre per year

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