IGO LIMITED — Capital/Financing Update 2021

Jan 17, 2021

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ASX ANNOUNCEMENT / MEDIA RELEASE

ASX: PRX

18[th] January 2021

Lake Mackay JV: First bedrock gold intersected at Goldbug Prospect

HIGHLIGHTS

• Lake Mackay Project is 400km northwest of Alice Springs, adjacent to the Western Australian border, and comprises approximately 15,630km² of exploration licences and applications

• 65 drill holes for 1,944m have been completed across six targets – including Goldbug gold Prospect, Grimlock nickel-cobalt Prospect, Grapple Prospect and first drilling also completed at the Swoop nickel-cobalt target

• Bedrock gold intersected at Goldbug Prospect:

• 20LMRC039 - 16m @ 1.15g/t Au, 4m @ 0.78g/t Au and 4m @ 1.54g/t Au

• o 20LMRC041 – 8m @ 1.2g/t Au

• Goldbug soil gold anomalism extends for 600m and is open to the east and north west - located 50km to the east of the Arcee Gold Prospect

• Cobalt intersected in shallow drilling at the Swoop Prospect with results of up to 0.15% Co and 0.67% Ni in AC drilling

• Additional cobalt and nickel results at the Grimlock target of up to 0.29% Co and 1.56% Ni in AC drilling

• Follow up work including diamond drilling will be undertaken at Phreaker, Raw and Customisable, and RC drilling at Raw, Goldbug and Arcee is planned for H1 2021

Prodigy Gold NL (ASX: PRX) (“Prodigy Gold” or the “Company”) is pleased to advise that results have returned for drilling completed on the Lake Mackay Project. The Lake Mackay Project is held in Joint Venture (“JV”) with IGO Limited (ASX: IGO), with IGO holding a 70% JV interest in the tenements and Prodigy Gold holding a 30% JV interest.

Recent work at Lake Mackay has been focused on drilling six targets prospective for cobalt-nickelmanganese, gold and copper mineralisation, with a total of 65 aircore holes for 1,944m completed in the most recent program.

Management Commentary

Prodigy Gold’s Managing Director Matt Briggs said:

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“The JV continues to systematically explore the large-scale Lake Mackay project for multiple styles of precious and base metals mineralisation, and these latest results have provided us with some encouraging insights. Bedrock gold has been intersected in RC drilling at Goldbug for the first time. This is a large-scale soil anomaly extending for over 600m. Goldbug is located 50km to the east of the Arcee Gold Prospect that yielded a previous result of 12m @ 3.5g/t (ASX 19 October 2019), so we have prioritised this target for further follow-up work.

Results from RC drilling at Grimlock have defined further cobalt and nickel mineralisation with results of up to 0.29% Co and 1.56% Ni. Cobalt has been intersected at Swoop in the first drilling with results of up to 0.15% Co in the recent drilling.

Diamond drilling at the Raw, Phreaker and Customisable targets and further RC drilling at Goldbug and Arcee are planned in 2021.”

Table 1 - Summary of October 2020 Lake Mackay Project Drilling

Target	Holes Drilled	Metres	Target Commodity	JV Area
Grimlock	38	993	Co, Ni, Mn	1
Swoop	18	342	Co, Ni, Mn	1
Goldbug	3	278	Au	2
Grapple	4	235	Au, Cu	1
Cluster	1	84	Cu, Au, Ni, Co	1
Raw	1(incomplete)	12	Cu,Au	1
Total	65	1,944

1IGO/PRX 2IGO/PRX/CST See background section for project ownership split

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Figure 1 -Cross section highlighting first mineralised holes intersected at the Goldbug Prospect

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Figure 2 - Goldbug Prospect Collar map with 1vd magnetics

Lake Mackay: Previous Exploration Summary

IGO commenced activity on the current Lake Mackay JV area in 2014. Systematic exploration led to the discovery of gold and base metal mineralisation at Bumblebee in 2015 and Grapple in 2016. Diamond drilling of Grapple in 2017 defined gold and copper mineralisation over 800m of plunge including a result of 11m @ 7.9g/t Au, 20.7g/t Ag, 0.8% Cu, 0.5% Pb, 1.1% Zn & 0.1% Co in 17GRDD001 (ASX 18 September 2017). In 2018, further work identified Ni, Co and Mn-bearing laterites. During 2018, IGO completed the $6M earn-in and the JV Project is funded 70/30.

Target Summary

Goldbug Prospect[1] is a 600m soil gold anomaly over Du Faur Orthoamphibolite. The target was originally identified through systematic soil sampling. Initial drilling in 2019 failed to identify the bedrock source of the soil gold anomaly. Goldbug is one of a number of soil gold anomalies at Lake Mackay.

The RC program of 3 holes for 278m drilled in late-2020 has successfully intersected bedrock gold mineralisation. Gold is associated with pyrite and quartz veining in an othoamphibolite. Best results are:

• 20LMRC039 o 16m @ 1.5g/t Au from 48m

  • 4m @ 0.78g/t Au from 76m

  • 4m @ 1.54g/t Au from 92m

• 20LMRC039

  • 8m @ 1.2g/t Au from 80m

1 Goldbug Prospect ownership IGO 59.5%/Prodigy Gold 25.5%/Castile JV 15%

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Drillhole 20LMC040 was not drilled to a depth that would intersect the mineralisation that has now defined.

The strike of the structure is interpreted to be broadly east-west suggested by the long axis of the soil anomaly. The dip of the structure is unknown however is likely to be steep, as seen with other structures at Lake Mackay, or north dipping. Soil gold anomalism extends for over 600m and is open to the east and northwest. The prospect has significant volume potential and warrants further RC drilling in 2021.

The Grimlock Prospect has shallow enrichment of cobalt and nickel developed over weathered ultramafic phases on the margins of an intrusion. Initial surface sampling identified cobalt of over 2% (ASX 12 December 2019). RC drilling confirmed the results of surface sampling with elevated cobalt defined over 4km. Leach test work undertaken in 2019 demonstrated over 97% of cobalt is extractable (ASX 12 December 2019). The recent program aimed to define the scale potential of the prospect with a grid of RC holes on a 300-400m spacing across a 3.5km long area.

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Figure 3 - Grimlock Prospect Collar Map with 1vd magnetics

The 38-hole AC program of 993m successfully defined further nickel and cobalt mineralisation at Grimlock. Best results from 2020 drilling are:

• 20LMAC002

• 6m @ 0.02% Co and 0.57% Ni from 10m

• 12m @ 0.07% Co and 1.17% Ni from 20m, including 4m @ 0.11% Co and 1.56% Ni from 24m

• 20LMAC003

• 12m @ 0.13% Co and 0.64% Ni from 8m

• 20LMAC006

• 6m @ 0.13% Co and 0.68% Ni, including 2m @ 0.29% Co and 0.9% Ni from 20m

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• 20LMAC011

o 2m @ 0.1% Co and 0.2% Ni from 26m

A full listing of results is contained in Appendix 1. The pyrolusite associated with high-grade cobalt in previous drilling was not intersected in the 2020 drilling program reducing the scale potential.

The Swoop Target displays a similar cobalt-nickel-manganese enrichment in lag samples as Grimlock. 18 holes were completed at Swoop to test the extent of enriched laterite and for the presence of pyrolusite (Mn). The recent drilling comprised 18 holes for 342m across the 1km long magnetic high.

Best results included:

• 20LMAC047 4m @ 0.15% Co and 0.67% Ni from 14m

• 20LMAC051 10m @ 0.13% Co and 0.51% Ni

• 20LMAC052 2m @ 0.02% Co and 0.52% Ni

• 20LMAC058 2m @ 0.11% Co and 0.22% Ni

The mafic/ultramafic intrusion at Swoop and surface enrichment appears similar to Grimlock. There is potential for several other mafic/ultramafic intrusions identified at Lake Mackay to host further cobalt and nickel mineralisation.

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Figure 4 - Swoop Prospect Collar Map with 1vd magnetics

The Cluster Target is a magnetic high that was drilled to confirm the source of the magnetic response. No base or precious metal mineralisation of interest was intersected in the hole.

The Grapple Prospect – Au and Cu associated with sulphides had been defined at Grapple over a strike length of approximately 800m. The current program aimed to define shallow mineralisation up plunge of previous drilling. The 4 holes completed were drilled along 300m of strike for a total of 235m drilled.

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Results have returned with base metal intersections in 3 holes:

• 20LMRC042 - 5m @ 0.2g/t Au, 46.1g/t Ag, 0.5% Cu, 0.9% Pb, 3.2% Zn and 0.2% Co

• 20LMRC043 - 1m @ 3.2g/t Au, 11.4g/t Ag, 2.6% Cu, 0.59% Zn

• 20LMRC044 - 2m @ 0.7g/t Au, 11g/t Ag, 0.34% Cu, 0.2% Pb, 0.6% Zn

• No significant results were reported for 20LMRC045.

The mineralisation was intersected in the targeted position and limits the continuity of shallow mineralisation to the east. The mineralisation remains open down plunge to the west.

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Figure 5 - Grapple Prospect Collar Map with 1vd magnetics

The Raw Prospect is a polymetallic (predominantly Au and Bi) soil and rock chip anomaly. Drilling was commenced as a part of the recent campaign but was abandoned due to a mechanical failure of the rig. An adjacent EM conductor was defined in 2018 and a diamond drill test is planned for FY2021.

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Figure 6 - Lake Mackay Project Map with Active Prospects and recent drilling

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Future Work

• Follow-up diamond drilling is planned for the Raw, Customisable, and Phreaker Prospects.

• Infill soil sampling is planned in WA and the NT.

• Any anomalies generated will likely be tested by RC drilling.

• RC drilling will test the strike extent of the Arcee Prospect.

• Additional RC drilling is planned for the Goldbug target.

Lake Mackay JV Background

The Lake Mackay Project is 400km northwest of Alice Springs and comprises approximately 15,630 km[2] of exploration licences and applications (14,886km[2] IGO 70%/Prodigy Gold 30% JV, 744km[2] IGO 59.5%/Prodigy Gold 25.5%/Castile JV 15%)(Figure 2). The Project has consolidated tenure over the favourable Proterozoic margin between the Aileron and Warumpi Provinces and is characterised by a continent-scale geophysical gravity ridge and the Central Australian Suture. The JV partners consider that exploration has the potential to unlock a new metallogenic province hosting multiple styles of precious and base metals mineralisation.

Authorised for release by Prodigy Gold’s Chairman, Tommy McKeith.

For further information contact:

Matt Briggs Managing Director +61 8 9423 9777

Competent Person’s Statement

The information in this announcement relating to exploration targets is based on information reviewed and checked by Mr Doug Winzar who is a Member of The Australasian Institute of Geoscientists. Mr Winzar is a fulltime employee of IGO Limited and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the “Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves”. Mr Winzar consents to the inclusion in the documents of the matters based on this information in the form and context in which it appears.

Past Exploration results reported in this announcement have been previously prepared and disclosed by Prodigy Gold NL in accordance with JORC 2012. The Company confirms that it is not aware of any new information or data that materially affects the information included in these market announcements. The Company confirms that the form and content in which the Competent Person's findings are presented here have not been materially modified from the original market announcement. Refer to www.prodigygold.com.au for details on past exploration results.

Appendix 1 – Significant intercepts from the Lake Mackay JV 2020 RC Drilling Program

	From	To	Interval	Au
Hole					Prospect
	(m)	(m)	(m)	g/t
20LMRC039	48	64	16	1.15	Goldbug
20LMRC039	76	80	4	0.78	Goldbug
20LMRC039	92	96	4	1.54	Goldbug
20LMRC041	80	88	8	1.21	Goldbug

Mineralised geological intercepts containing samples >0.5g/t and 1m internal dilution.

	From	To	Interval	Au	Ag	Cu	Pb	Zn
Hole									Prospect
	(m)	(m)	(m)	g/t	g/t	%	%	%
20LMRC042	40	45	5	0.17	46.1	0.47	0.88	3.17	Grapple
20LMRC043	33	34	1	3.19	11.4	2.59	0.02	0.59	Grapple
20LMRC044	33	35	2	0.66	11	0.34	0.22	0.59	Grapple

Cu-Au results with 0.5g/t Au or 0.4% Cu or 0.4% Zn Cutoff and 1m internal dilution

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Hole	From (m)	To (m)	Interval (m)	Co %	Ni %	Prospect
20LMAC002	10	16	6	0.02	0.57	Grimlock
and	20	32	12	0.07	1.17	Grimlock
including	24	28	4	0.11	1.56	Grimlock
20LMAC003	8	20	12	0.09	0.74	Grimlock
20LMAC006	16	22	6	0.13	0.68	Grimlock
including	20	22	2	0.29	0.90	Grimlock
20LMAC011	26	28	2	0.13	0.18	Grimlock
20LMAC013	24	28	4	0.06	0.66	Grimlock
20LMAC029	12	14	2	0.06	0.57	Grimlock
20LMAC047	14	18	4	0.15	0.67	Swoop
20LMAC051	2	12	10	0.13	0.51	Swoop
20LMAC052	14	46	2	0.02	0.52	Swoop
20LMAC058	4	6	2	0.11	0.22	Swoop

Mineralised geological intercepts containing samples >0.1% and 1m internal dilution.

Appendix 2 – Lake Mackay JV Project 2020 Reported AC/RC Drillhole Collar Locations

Prospect		Hole	East1			Total Depth	Dip
	Hole ID			North1	RL2			Azimuth
		Type				(m)
Grimlock	20LMAC001	AC	567127	7444858	475	30	-90	0
Grimlock	20LMAC002	AC	567477	7444433	482	33	-90	0
Grimlock	20LMAC003	AC	567771	7444130	477	27	-90	0
Grimlock	20LMAC004	AC	567929	7443743	474	17	-90	0
Grimlock	20LMAC005	AC	567953	7443530	475	24	-90	0
Grimlock	20LMAC006	AC	568212	7443146	478	27	-90	0
Grimlock	20LMAC007	AC	568503	7443121	466	30	-90	0
Grimlock	20LMAC008	AC	568485	7443398	464	30	-90	0
Grimlock	20LMAC009	AC	568233	7443710	467	30	-90	0
Grimlock	20LMAC010	AC	568539	7443642	468	33	-90	0
Grimlock	20LMAC011	AC	568069	7444111	474	30	-90	0
Grimlock	20LMAC012	AC	568080	7444423	473	30	-90	0
Grimlock	20LMAC013	AC	567778	7444400	480	30	-90	0
Grimlock	20LMAC014	AC	567807	7444958	467	30	-90	0
Grimlock	20LMAC015	AC	567440	7445141	467	30	-90	0
Grimlock	20LMAC016	AC	567209	7445138	468	30	-90	0
Grimlock	20LMAC017	AC	567016	7445248	468	30	-90	0
Grimlock	20LMAC018	AC	566967	7444244	475	30	-90	0
Grimlock	20LMAC019	AC	566721	7444366	461	30	-90	0
Grimlock	20LMAC020	AC	566873	7444633	468	21	-90	0
Grimlock	20LMAC021	AC	566856	7444830	470	20	-90	0
Grimlock	20LMAC022	AC	566381	7445058	460	30	-90	0
Grimlock	20LMAC023	AC	566212	7444788	462	30	-90	0
Grimlock	20LMAC024	AC	566416	7444668	462	20	-90	0
Grimlock	20LMAC025	AC	566495	7444449	468	18	-90	0
Grimlock	20LMAC026	AC	566349	7444430	468	21	-90	0
Grimlock	20LMAC027	AC	565997	7444595	463	24	-90	0
Grimlock	20LMAC028	AC	566159	7444040	472	24	-90	0

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Grimlock	20LMAC029	AC	565220	7444096	455	21	-90	0
Grimlock	20LMAC030	AC	565470	7444120	459	30	-90	0
Grimlock	20LMAC031	AC	565536	7444289	456	24	-90	0
Grimlock	20LMAC032	AC	565733	7444057	458	27	-90	0
Grimlock	20LMAC033	AC	565866	7444298	460	26	-90	0
Grimlock	20LMAC034	AC	565506	7443822	458	26	-90	0
Grimlock	20LMAC035	AC	565782	7443843	459	27	-90	0
Grimlock	20LMAC036	AC	565726	7443515	457	24	-90	0
Grimlock	20LMAC037	AC	566214	7442486	461	20	-90	0
Grimlock	20LMAC038	AC	566601	7442260	465	9	-90	0
Cluster	20LMAC046	AC	624679	7471093	480	84	-90	0
Swoop	20LMAC047	AC	636327	7469008	514	23	-90	0
Swoop	20LMAC048	AC	636454	7469237	512	10	-90	0
Swoop	20LMAC049	AC	636506	7469091	509	3	-90	0
Swoop	20LMAC050	AC	636473	7469057	509	12	-90	0
Swoop	20LMAC051	AC	636331	7468850	508	21	-90	0
Swoop	20LMAC052	AC	636232	7468931	509	19	-90	0
Swoop	20LMAC053	AC	636182	7468871	508	22	-90	0
Swoop	20LMAC054	AC	636135	7469064	498	30	-90	0
Swoop	20LMAC055	AC	635906	7468966	493	24	-90	0
Swoop	20LMAC056	AC	635950	7469159	494	30	-90	0
Swoop	20LMAC057	AC	636012	7469336	494	15	-90	0
Swoop	20LMAC058	AC	636235	7469479	499	8	-90	0
Swoop	20LMAC059	AC	636333	7469641	491	27	-90	0
Swoop	20LMAC060	AC	636518	7469735	487	20	-90	0
Swoop	20LMAC061	AC	636707	7469690	493	16	-90	0
Swoop	20LMAC062	AC	636038	7469651	489	20	-90	0
Swoop	20LMAC063	AC	635819	7469477	486	24	-90	0
Swoop	20LMAC064	AC	635703	7469193	489	18	-90	0
Goldbug	20LMRC039	RC	550511	7452684	437	105	-60	0
Goldbug	20LMRC040	RC	550505	7452790	436	84	-60	180
Goldbug	20LMRC041	RC	550506	7452771	435	89	-60	180
Grapple	20LMRC042	RC	586288	7449195	477	60	-60	170
Grapple	20LMRC043	RC	586235	7449149	478	48	-60	170
Grapple	20LMRC044	RC	586153	7449140	477	87	-60	180
Grapple	20LMRC045	RC	586027	7449115	475	40	-60	180
Raw	20LMRC065	RC	677354	7460553	540	12 (incomplet e)	-60	90

1MGA 94 Grid Zone 52

2Estimated from DEM

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Appendix 3: JORC Code, 2012 Edition – Table 1- Lake Mackay Drilling 2020

Section 1 Sampling Techniques and Data

Criteria	JORC Code explanation	Commentary
Sampling techniques	 Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, 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 (e.g. ‘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 (e.g. submarine nodules) may warrant disclosure of detailed information.	 Aircore (AC) / Reverse Circulation (RC) drilling completed in October 2020.  Sampling  One metre RC/AC samples were collected with a scoop.  Four metre composite samples were collected from an orbital splitter attached to the rig.  Individual metre samples were sampled where geological logging and/or portable HHXRF identified mineralisation.  Samples were dried, pulverised to - 75µm and split to produce a nominal 200 gram sub sample.  1 metre samples from Grimlock and Swoop were analysed for gold, platinum and palladium using a 25 gram lead collection fire assay with analysis by Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES).  1 metre samples from Goldbug, Grapple and Customisable were analysed for gold using a 25 gram lead collection fire assay with analysis by Inductively Coupled Plasma Optical Emission Spectrometry (ICP-OES).  Multi-element analysis was completed using a four-acid digest on a 0.2g prepared sample with analysis of 33 elements with ICP- OES.
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, by what method, _etc.). _	 An aircore/slimline RC drilling rig, owned and operated by Bullion Drilling was used.  The RC drilling was conducted with a 127mm face sampling hammer bit.
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.	 The sample recovery was estimated by the relative size of the piles of drill spoil that were placed on the ground.  Sample quality was recorded during logging (wet\dry samples) and qualitative recovery were assigned to the samples.
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.	 The RC chips were logged on 1 metre intervals using the IGO coding system. Lithology, weathering, colour, alteration, veining and mineralisation are logged (qualitative). Magnetic susceptibility was measured for each 4 metre composite sample (quantitative). A representative chip sample was collected for each metre.
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 sampling.  Whether sample sizes are appropriate to the grain size of the material being sampled.	 For RC, one-metre drill samples were laid out on to the ground in 30m rows, and four-metre composite samples of approximately 4kg were collected from an orbital, into pre-numbered calico bags. The majority of samples (>99%) were dry.  The same method was used for one-metre samples as well.  Samples were prepared at the Intertek Laboratory in Alice Springs. Samples were dried, and the whole sample was crushed and pulverised to 85% passing 75µm, and a sub-sample of approx. 200g retained.  A duplicate field sample was taken at a rate of 1 in 50.  Field duplicate assayresults arereviewed

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Criteria	JORC Code explanation	Commentary
		to confirm that the sample results are representative.  For exploration drilling the sample size is considered appropriate to give an indication of mineralisation given that the sampleis crushed to-75µm.
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 (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.	 For 4 metre composites and 1 metre intervals were both analysed using 25g fire assay for A, Pt and Pd and four-acid digest for Ag base metals and pathfinders. The fire assay is a total digest and the four-acid is considered a “near total” digest.  No geophysical or XRF results are used in exploration results reported.  Laboratory QAQC involves the use of internal lab standards and blanks using certified reference materials. Lab duplicates are also monitored to ensure the sample results are representative.  IGO also provides reference samples and blanks that areinserted every 50 samples.
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.  Discuss any adjustment to assay data.	 Significant intersections were identified in the field by an IGO geologist and were selected for 1 metre sampling.  No twinned holes were completed.  Primary data was collected in Field Marshall files. Data are imported directly to the database with importers that have built in validation rules. Assay data are imported directly from digital assay files and are merged in the database with sample information. Data are uploaded to a master SQL database stored in Perth, which is backed up daily. Data is reviewed and manually validated upon completion of drilling.  From time to time assays will be repeated if they fail the company QAQC protocols, however no adjustments are made to assay data once accepted into the database.
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.	 Hole collars were recorded using Garmin handheld GPS and averaging for 90 seconds. Expected accuracy is + or – 3m for easting and northing. The azimuth of the drill collars were measured with a compass using magnetic north and recorded in the database. A clinometer was used to check the dip of the hole at the collar.  The grid system is MGA_GDA94 (zone 52)
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.	 This drilling is not used for resource estimation, it was intended to attempt to identify bedrock sources of multi-element soil and rock chip geochemical anomalies associated with gold mineralised systems and to test a conductor that was identified from a moving loop electromagnetic survey.  RC samples were composited over 4 metres.
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 drill lines were designed to be perpendicular to the soil anomalies  The drilling at Grimlock and Swoop were designed to be evenly spread over the target intrusion as identified from aeromagnetics and geological mapping..  No sampling bias is considered to have been introduced.
Sample security	 The measures taken to ensure sample security.	 The RC drill samples were collected in pre-numbered calico bags and then placed in poly-weave bags. They were transported from the field to the sample preparation laboratory in Alice Springs by PRX/IGO personnel.

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Criteria	JORC Code explanation	Commentary
		 Once the sample preparation is completed in Alice Springs the samples are transported to Perth for analysis using the laboratories standard chain of custody procedure.
Audits or reviews	 The results of any audits or reviews of sampling techniques and data.	 No specific audits or reviews have been undertaken at this stage in the program.

Section 2 Reporting of Exploration Results

Criteria	JORC Code explanation
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.	 The Lake Mackay Project currently consists of multiple tenements with the results reported from Grimlock EL24915 / EL30731 (70% IGO 30% Prodigy Gold), Grapple EL24915 (70% IGO 30% Prodigy Gold), Swoop and Cluster EL30730 (70% IGO 30% Prodigy Gold), Goldbug EL 31794 (IGO 59.5%/Prodigy Gold 25.5%/Castile JV 15%)  This tenement is in good standing and no known impediments exist.  Prodigy Gold NL and IGO entered into a multi-phase agreement covering the Lake Mackay Project on 21 August 2013.  In October 2018 completed phase 2 of the agreement to earn a 70% interest in the project.
Exploration done by other parties	 Acknowledgment and appraisal of exploration by other parties.	 EL24915 was previously explored by BHP in the South Tanami JV. BHP flew a Geotem survey in 1999 and conducted ground EM and drilling in 2004 targeting Ni sulphides.
Geology	 Deposit type, geological setting and style of mineralisation.	 The Grimlock is a residual Ni-Co prospect developed from the weathering of mafic/ultramafic phases of the Andrew Young Igneous Complex.  The region is also considered by IGO and PRX to have potential for the discovery of deposits having a number of mineralisation styles including: : o Iron-ore-copper-gold (IOCG) deposits o Volcanogenic hosted massive sulphide deposits (VMS) o Orogenic gold
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 easting and northing of the drill 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 hole 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. _	 Included in Appendix 1 and 2
Data aggregation methods	 In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg 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 clearly stated. _	 Cu-Au results with 0.5g/t Au or 0.4% Cu or 0.4% Zn Cutoff and 1m internal dilution  Mineralised geological intercepts containing samples >0.1% Co and 1m internal dilution  Metal equivalent grades were not reported.

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Criteria	JORC Code explanation
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 drill hole 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’). _	 Downhole widths are provided as this is the first drilling program at this prospect and mineralisation geometry is poorly understood at this stage.
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. _	 A plan view is provided in Figure 3 and 4 and cross section in Figure 1
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 reporting of Exploration Results.	 Co results reported are based on cut-off of 0.1% Co  Cu-Au results are reported on 0.5g/t Au or 0.4% Cu or 0.4% Zn Cutoff and 1m internal dilution
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. _	 An interpreted outline of the possible extent of the residual mineralisation is displayed in Figure 1, 3, and 4.
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. _	 Future work is summarised in the announcement.

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