IGO LIMITED — Capital/Financing Update 2021

Jun 8, 2021

COMPLETION OF DIAMOND DRILLING AT CROSSROADS PROSPECT, BURRACOPPIN

HIGHLIGHTS:

• Maiden diamond drilling program completed at Burracoppin Project, a Joint Venture with IGO Limited, managed by Moho

• 4 diamond drill holes (630m) were drilled to test:

  • down dip extensions of broad gold mineralised zone and location and intensity of W – Mo – As halo

  • extensions of gold mineralisation and the relationship between lithology and structures

NEXT STEPS:

• DDH assays expected – Q3 2021

• Compile DDH assays with structural and other data for target generation at Crossroads – Q3 2021

• Compile and review all surface geochemical sampling data across the project area – Q3 2021

• Further exploratory aircore and RC drilling – H2 2021/Q1 2022

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Figure 1: Core in diamond drill hole BCMH0071

“ The diamond drilling represents a significant advance in Moho’s geological understanding of the Burracoppin Project and will enable our geological team to vector into the gold mineralisation at the Crossroads prospect.”

- Mr. Shane Sadleir, Moho Managing Director

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Figure 2: Location of Crossroads gold prospect, Burracoppin Project

Moho Resources Ltd (ASX:MOH) (Moho or the Company) is pleased to announce the completion of the maiden diamond drilling program at the Crossroads gold prospect which began in May 2021. Assays from the diamond drilling are expected in approximately six to eight weeks’ time. The Crossroads prospect is part of Moho’s Burracoppin Gold Project, within E70/4688, which is subject to a 70:30 Joint venture with IGO Limited (“IGO”). Burracoppin is located in the WA Wheatbelt, about 22km west of the Edna May gold mine (Figure 2).

The diamond drill program of 4 holes (630m) primarily targeted mineralisation intersected in the January 2021 RC drilling program (see announcement 11 May 2021 “ Diamond Drilling to Test Gold Mineralisation at Crossroads Prospect ”), with the drill hole layout determined using an analysis of multielement geochemistry, geophysics and gold assay values.

Transported cover and clays of the saprolite were drilled with HQ size (61mm diameter), and deeper fresh rock by NQ size (47mm diameter), which maximised core recovery and minimised direct drilling costs whilst enabling the collection of high quality lithological, structural and geochemical data. The program was partially funded by the WA Government as part of its Exploration Incentive Scheme to test a potential Intrusive-Related Gold mineral system at the Crossroads prospect.

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The diamond core was logged and photographed at site before being securely packed for transport to Kalgoorlie for cutting and assaying. Following the successful submission of an interim report outlining preliminary findings, Moho will be refunded 80% of the EIS grant. The balance of the grant will be issued following submission of half the core to the Geological Survey of WA where it will be stored for future studies.

NEXT STEPS:

• DDH assays expected – Q3 2021

• Compile DDH assays with structural and other data for target generation at Crossroads – Q3 2021

• Compile and review all surface geochemical sampling data across the project area – Q3 2021

• Further exploratory aircore and RC drilling – H2 2021/Q1 2022

MOHO’S INTEREST IN THE BURRACOPPIN PROJECT TENEMENTS

Moho and IGO Limited (ASX:IGO) have now formed an unincorporated joint venture for the purposes of exploring and, if warranted, developing and mining on E70/4688. IGO’s 30% interest will be free carried until completion of a pre-feasibility study, at which time IGO may elect to contribute pro-rata to ongoing work or convert its 30% interest to a 10% free carried interest.

In addition to Moho’s 70% interest in E70/4688, the Company owns a 100% interest in granted exploration tenements E70/5154, E70/5300-5302, E70/5739 and applications ELA70/5299 and E77/2671.

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About Moho Resources Ltd

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Moho Resources Ltd is an Australian mining company which listed on the ASX in November 2018. The Company is focused on gold and nickel exploration at Empress Springs, Silver Swan North and Burracoppin.

Moho’s Board is chaired by Mr Terry Streeter, a well-known and highly successful West Australian businessman with extensive experience in funding and overseeing exploration and mining companies, including Jubilee Mines NL, Western Areas NL and Midas Resources Ltd.

Moho has a strong and experienced Board lead by geoscientist Shane Sadleir as Managing Director, Commercial Director Ralph Winter and Adrian Larking, lawyer and geologist, as Non-Executive Director.

Highly experienced geologist Lyndal Money (Technical Manager) is supported by leading industry consultant geophysicist Kim Frankcombe (ExploreGeo Pty Ltd) and experienced consultant geochemists Richard Carver (GCXplore Pty Ltd) and Dr Carl Brauhart (CSA Global Pty Ltd). Dr Jon Hronsky (OA) provides high level strategic and technical advice to Moho.

ENDS

The Board of Directors of Moho Resources Ltd authorised this announcement to be given to ASX.

For further information please contact:

Shane Sadleir, Managing Director Ralph Winter, Commercial Director T: +61 411 704 498 T: +61 435 336 538 E: shane@mohoresources.com.au E: ralph@mohoresources.com.au