ASX Announcement

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17 March 2022

ACQUISITION OF HIGHLY PROSPECTIVE GOLD, COPPER, NICKEL AND PGE PROJECTS IN NEW ZEALAND – CLARIFICATION ANNOUNCEMENT

Highlights

Cyclone to acquire 100% of Grand Port Resources Pty Ltd ( Grand Port ), which holds 6 highly prospective gold, copper, nickel and PGE projects in New Zealand, with a further 2 lithium and REE project applications being submitted shortly;
Grand Port’s projects covering 1,140km[2 ] , are all either near operating mines and facilities, or other resources companies;
The projects are Macraes South, Muirs, Mareburn, Longwood Range, Waikerikeri and Drybread, and all are considered underexplored by modern exploration methods;
Muirs Reef Gold Project , contains a non-JORC foreign inferred resource estimate of 222koz Au @ 1.34g/t*, with significant exploration upside, historic drilling results include[1] :
11.0m at 11.0 g/t Au from 48m incl. 2.0m @ 38.4g/t Au (MSDDH009)
0.7m at 17.0 g/t Au from 92.2m (TP6);
Mareburn Gold Project , contains a number of initial walkup extension drill targets to previous results[1] :
10m at 2.4/t Au from 38m (RCH4535), including 3m @ 7.1g/t Au from 38m
10m @ 1.99g/t Au from 2m (MEH21), including 6m @ 3g/t Au from 5m
2m at 3.04g/t Au from 2m (RCH4542);
Acquisition conditional on shareholder approval at a General Meeting expected to be held in April 2022,
Following Completion, Cyclone plans to undertake a maiden JORC compliant mineral resource estimate at Muirs and commence first-pass drilling at Muirs and Mareburn.

Cyclone or the Company ) wishes to provide a clarification in respect to its announcement released 24 February 2022 titled “Acquisition of highly prospective gold, copper, nickel and PGE projects in New Zealand”. The announcement released 24 February 2022 omitted to include specific disclosures in line with ASX listing rule 5.7 and the JORC Code.

1 Note: these are a selection of intercepts which have been chosen to demonstrate the prospectivity of the Muirs and Mareburn projects. Full results are set out in Tables 3 and Table 5.

Non-JORC foreign estimate (2013) by Glass Earth Limited on the Muirs Reef Project, were summarised in a 2013 NI43-101 Technical Report on Resources at Muirs Project, Te Puke, Bay of Plenty, New Zealand, Glass Earth Gold Limited. The foreign estimates are not reported in accordance with the JORC Code and a competent person has not done sufficient work to classify the foreign estimates as mineral resources in accordance with the JORC Code. It is uncertain that following evaluation and further exploration work that the foreign estimates will be able to be reported as mineral resources in accordance with the JORC Code.

ASX Announcement 17 March 2022

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Cyclone is pleased to announce that it has entered into a binding term sheet with Grand Port Resources Pty Ltd ( Grand Port ) to acquire 100% of the issued share capital of Grand Port which owns and has applications over a diversified portfolio of gold, copper, nickel and PGE assets in New Zealand (together, the Acquisition ).

New Zealand is now a premier investment destination for resources with successful explorers and new mines being approved. The Acquisition is aligned with Cyclone’s strategy to acquire and invest in strategic, value add projects around the world.

In addition to the current projects Grand Port will make applications for lithium projects in New Zealand to further diversify the portfolio with this strategic mineral.

Following completion of the Acquisition Cyclone plans to undertake a maiden JORC compliant mineral resource estimate at Muirs and commence first-pass drilling at Muirs and Mareburn. It is anticipated that settlement of the Acquisition will complete in the coming weeks.

Cyclone Executive Director, Tony Sage, commented: “Grand Port owns an impressive portfolio of brownfield precious and base metal assets in New Zealand, which we believe, we can add significant value through our hands on approach and strong contacts in-country. Other ASX companies are experiencing success in New Zealand and we look forward to developing these assets in the coming months to realise value for Cyclone’s shareholders.”

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Figure 1: Location of Grand Port Projects

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Grand Port’s Projects

Grand Port’s Projects comprise of a portfolio of highly prospective precious and base metals projects on the North and South Islands of New Zealand, with locations shown in Figure 1.

South Island

Longwood Range Gold Copper PGE Project (application pending) is situated 40km west of Invercargill, New Zealand and covers 424km[2] . Historic production includes: ~88koz Au and 1,500oz of platinum. Previous drilling intersected a PGE reef with no follow up work and the project area has been identified as being fertile for copper and nickel by Otago University. There has been only 4 historic drill holes to date on the project. On-ground work will kick off with a geochemical sampling program that will generate the maiden drill program.

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Figure 2: Longwood Range Geology and interpreted structures from MR4454.

The Mareburn Gold Project and Macraes South Gold Project (granted) (Figure 3) c overs 464km[2] within the Otago Goldfield of the South Island, which has 10Moz of proven historical gold production. Mareburn sits 8km north of the producing Macraes Gold Mine and processing plant, New Zealand’s largest producing gold mine, and ~2km from the Coronation open pit. Macraes South is contiguous to the south of the Macraes Gold Mine and processing plant. These areas have been significantly underexplored using modern exploration techniques.

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Figure 3: Macraes South and Mareburn Project locations, contiguous to the Macraes Gold Mine.

Macraes South Gold Project , (Figure 3) covers 434km[2] and is contiguous to the 10Moz Macraes gold mine. No modern exploration techniques or drilling has been undertaken and the project requires immediate attention.

Mareburn Gold Project , covers 30km[2] and is located ~8km from the Macraes gold mine, and contains a number of initial walkup extension drill targets to previous results[1] :

10m at 2.4/t Au from 38m (RCH4535), including 3m @ 7.1g/t Au from 38m
10m @ 1.99g/t Au from 2m (MEH21), including 6m @ 3g/t Au from 5m
2m at 3.04g/t Au from 0m (RCH4542)

A representative cross-section and collar plan can be seen in Figures 4 and 5. (Refer Table 4 for Location and Table 5 for assay results of all drill holes).

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Cyclone will target structurally hosted gold, with the use of modern exploration techniques. Once the existing data has been reviewed in full, Midway will complete a range of exploration programmes to generate new data, including a detailed soil geochemical programme orientation survey and a geophysical survey to identify transverse structures.

The bulk of the previous sampling has been on a 400m x 40m sample spacing grid, orientated normal to the Macraes Thrust. This will not assess the potential for divergent mineralisation. Hence the need for a detailed soil geochemical program to allow re-evaluation of the area. Subject to field inspection this would be orientated N-S to cut both forms of mineralization at broader angles. The transported cover appears limited; however, the bulk of the sampling was conducted in 1991 and the balance in 2009. Since then, techniques have improved and have been refined for multi-element analysis. This will require an initial orientation survey to trial some newer techniques (Ionic Leach[TM] geochemistry) and “ fingerprint ” multi-element analysis of mineralised rock chip samples.

The Sub-Audio-Magnetics (SAM) approach is considered the appropriate geophysical survey technique as it is effective in delineating structure within weakly magnetic terrains. Detailed ground gravity will also be considered to help define alteration zones if SAM proves ineffective. Once these techniques have been applied and the results field validated, the geological, structural and geochemical data will be integrated to generate the Cyclone maiden drilling program.

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Figure 4: Mareburn representative Cross Section 1394390mE of mineralisation within the Hyde-Macraes shear zone.

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Figure 5: Drill collar location for Mareburn and mapped structures.

Local Geology

The Mesozoic basement rocks within the application area comprise predominant greenschist facies pelitic and psammitic schists of the Haast Schist Group ( Figure 6 ). Stratigraphic units within the basement rocks can be differentiated only locally, owing to metamorphic effects and the intensity of deformation. Tertiary rocks are locally present at the western application boundary and in the southeast. The contact between basement and Tertiary sediments is frequently characterised by an irregular zone of deep weathering and leaching of the basement rocks beneath the contact. Tertiary outliers, comprising fluvial and lacustrine deposits of the Eocene Hogburn Formation and the OligoceneMiocene Wedderburn Formation are locally capped by basalt flow remnants belonging to the Pliocene Waipiata volcanics (Murfitt, 1997).

Mineralisation Style

Mineralisation in the project area has formed predominantly low-angle (dip < 20°), grey-white quartz veins with associated silicified and brecciated schist (± arsenopyrite ± gold), of between 4- to 30 cm thickness (Teagle et. al., 1990). They are commonly subparallel to the bounding fractures and concordant with the foliation of the host schist. Veins are lensoidal in both length and breadth and no one lens appears to be continuous for more than 10 to 15 m either along strike or down-dip. In cross section these veins appear to be sinuous, thickened on the shallowly dipping parts of faults and at bends, with decreased thicknesses of mineralisation in the steeper segments. The schist surrounding quartz veins is commonly silicified (Teagle et. al., 1990).

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Figure 6: Geological map of the Hyde-Macraes shear zone and drill hole locations at Mareburn.

Previous Exploration

Alluvial gold was first discovered in the Macraes North area in Trimbell’s Gully during 1862. Prospecting activity began in the Nunns area in 1868 and hard rock mining started during 1887 on the Mareburn Reef. Mining activity began at Nunns between 1895 and 1900. Williamson (1939) described the Mt. Highlay Syndicate recovering 368 oz of gold from 1,880 tonnes of rock, thought to be sourced from the Nunns mine. The Mt. Highlay mine is thought to have operated over a similar period as the Nunns mine. Old mines’ reports state the old Mt. Highlay mine was re-opened in 1910 to extract gold and scheelite and included the construction of a 920 feet long suspension bridge over the Mareburn to carry a tramway between the mine and battery. This mine was probably closed sometime in 1917-1918.

Mining by New Zealand Gold and Tungsten (NZGT) in an area east of Nunns is thought to have begun in 1905. In 1906 a Huntington mill with the capacity of ten heads of stamps was established. It was linked to the mine by a self-acting three-rail incline ground tramway. Mining at this stage was a mixture of underground and opencast workings (Petchey, 2003). By 1913 the mine was confined to Gilmores Reef and the following year work ceased at the mine. The mine was briefly re-opened in 1917 but was closed within the same year.

The Coronation Lode was discovered in the late 1880s when the Macraes Flat area was the subject of intensive prospecting for reef gold. Prior to the commencement of mining at Coronation two main areas of gold workings could be distinguished; the Coronation workings in the north-eastern part of the project (now mined out) and water races relating to the alluvial working in the south west of the area (Petchey, 1998). From the limited evidence available the Coronation area was first worked during 1888 with a

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second period of activity in 1911/1912. During the mid-1980s the landowner completed a series of 12 trenches and 17 pits plus the shallow excavation of the soil profile to bedrock along the southern outcrop trace of the Coronation lode for about 700-800m. No details of this work are available, and the area has now been mined out.

During 1985, BP Oil New Zealand Limited conducted an intensive exploration program in the region including geological mapping, costeaning, rock and soil geochemistry, ground magnetometry, an IP/resistivity survey, scout diamond drilling and infill RC drilling.

During the 1990s a range of surface geochemical sampling, ground geophysics (IP) and drilling was completed as part of a Kiwi International Resources N.L and Sigma Resources N.L joint venture (Murfitt, 1997; Murfitt and Ryan, 1997; Nicolson, 1993, 1992a, 1991a, b). This included two RAB drilling programs and an RC programme with a total of 42 drill holes completed inside the Mareburn Exploration Permit area (Nicolson, 1992a; Nicolson 1992b; Murfitt, 1997).

Previous work by OceanaGold over the application began with a DIGHEM V helicopter borne geophysical survey flown by Geoterrex during February-March 1997. The northwestern end of the flown block extended across the southeastern edge of the proposed application area. This area contains the Highlay Hill basalt, which dominates the magnetic signature. Survey specifications were east-west (Macraes Grid) flight lines flown at 50 m spacing with a terrain clearance of 40 m for the magnetometer sensor and 30 m for the electromagnetic sensor. Electromagnetic data was acquired every 3 m along survey lines, testing the 450, 900, 5500, 7,200 and 56,000 Hz frequencies. Magnetic data was captured utilizing a cesium split-beam total field magnetic sensor with sample intervals of 0.1 seconds. Magnetic and DIGHEM data was interpreted by Southern Geoscience Consultants Pty Ltd (Craven, 1998).

In August 2007, FUGRO completed an extensive airborne electromagnetic (EM) and magnetic geophysical survey over Otago using a helicopter-borne RESOLVE TM system combined with a magnetometer for Glass Earth Gold Limited. The survey included coverage over most of the OceanaGold permits across the Hyde-Macraes Shear Zone, including the current application area. The survey was flown along northeast-southwest flight lines with 300m spacing, in filled to 150m spacing in a central zone that also included most of the application area. Terrain clearance averaged 30m. Electromagnetic data were acquired every 3m and tested the 400, 1800, 8,200, 40,000, 140,000 Hz frequencies.

The area has had a number of photogrammetry surveys completed in order to derive accurate topographic information over the permit area and for use in geological mapping, archaeological surveys, environmental surveys, geochemical sampling, drilling and to monitor environmental compliance at the Macraes Gold Project (MGP) of which EP40576 is a part. Previous aerial photographic surveys have included:

Multiple drilling programs were conducted in the Mareburn area by OceanaGold. The focus of these programs including first pass testing of historically mined lodes and delineating and/or expanding specific resource areas or known lodes. All drilling at Mareburn area, is a total of 80 drill holes for RAB (9 holes) and RC (71 holes). A list of all drill hole collar information is contained in Table 2 , and assays are contained in Table 3 .

Multiple soil sampling programs occurred between 2006 and 2015 with positive results. This work is to be replicated using Ionic Leach[TM] .

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The Drybread – Waikerikeri Gold Project (application pending) (Figure 7) covers ~198km[2] and crosses over Santana Minerals Limited’s (ASX: SMI) Bendigo-Ophir Project in Central Otago and contains historical alluvial workings contiguous to that project. The area has been underexplored for hard rock potential with no primary gold exploration undertaken.

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Figure 7: Drybread and Waikerikeri projects contiguous to Santana Minerals project

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North Island

Muirs Reef Gold Project (applications pending) covers 52.6km[2] and is close to Oceania’s Hauraki Gold Field with 45Moz proven historical gold production. With the same geology as Hauraki, Muirs Reef has a non-JORC foreign inferred resource estimate of 222koz Au @ 1.34g/t*, * Gold Resource, and silver yet to be estimated. Muirs Reef is ~100km from the Waihi Gold Mining operations and is drill target ready.

o Historic drilling results include[2] :

11.0m at 11.0 g/t Au from 48m incl. 2.0m @ 38.4g/t Au (MSDDH009)
0.7m at 17.0 g/t Au from 92.2m (TP6)
14.0m at 2.76 g/t Au from 54m (RC22)
12.0m at 2.36 g/t Au from 79.0m (RC39)
9.0m at 2.70 g/t Au from 29.0m (RC02)
28.0m at 1.57 g/t Au from 48.0m (RC30)

Project Overview

The Muir’s Reef project is located 6 kilometres southwest of Te Puke, Bay of Plenty, New Zealand (Figure 8). The township of Te Puke has a population of approximately 7000, with driving access to Muir’s Reef via sealed road from Te Puke (Number 4 Road) and a network of farm tracks to drilling sites. The nearest airport is Tauranga, approximately 20 minutes by car. The permit covers steep and hilly topography with deeply incised gullies varying between approximately 60m above sea level (ASL) to 300m ASL. To the west is the Papamoa Range which is steep and predominately native bush covered and to the east is the Mamaku Plateau which is undulating and has intensive horticultural development and farmland at lower altitudes.

The project is contained within Mineral Exploration Permit under the Crown Minerals Act 1991. A Mineral Exploration Permit gives the right to explore the land, including entry for minimum impact exploration regardless of owner’s consent. However, the private landowners will be engaged with for a formal access agreement for exploration by Cyclone.

Higher impact exploration activities such as trenching and drilling are subject to District and Regional Council consent. Exploration permits generally last for up to 10 years, with a possible extension at the 5-year mark with a 50% reduction of permit area. Appraisal applications can be lodged which extend permit life without reduction by 50%.

2 Note: these are a selection of intercepts which have been chosen to demonstrate the prospectivity of the Muirs and Mareburn projects.

Non-JORC foreign estimate (2013) by Glass Earth Limited on the Muirs Reef Project, were summarised in a 2013 NI43-101 Technical Report on Resources at Muirs Project, Te Puke, Bay of Plenty, New Zealand, Glass Earth Gold Limited. The foreign estimates are not reported in accordance with the JORC Code and a competent person has not done sufficient work to classify the foreign estimates as mineral resources in accordance with the JORC Code. It is uncertain that following evaluation and further exploration work that the foreign estimates will be able to be reported as mineral resources in accordance with the JORC Code.

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Figure 8: Muirs Reef Project Location

Local Geology

Within the application area, (Figure 9) the basement rocks comprise Mesozoic greywacke. This is overlain by Pliocene Coromandel Group rocks comprising andesitic flows (Otawa Andesite) and pyroclastics with minor interbedded sediments. There is a gradational boundary with the unit above known as the Papamoa Ignimbrite. The Papamoa Ignimbrite is comprised of lithic-pumice tuffs with interbedded sediments and accretionary lapilli near the base. Minden Group rhyolites of Pleistocene age have intruded sporadically and manifest themselves as domes such as Otara Hill and Otanewainuku.

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The location of these domes appears to be structurally controlled with regional alignment in NNE direction which corresponds to the horst margin of the Papamoa Range. Post-mineralisation Quaternary Mamaku ignimbrite unconformably overlies most except for paleotopographic highs. The base of the ignimbrite contains a welded intermediate lenticular unit which is commonly seen locally as resistant strata in stream beds. It thickens considerably towards the south and has been confirmed up to 180 m thick near its source at Rotorua. Thin layers of more recent ash falls are patchily preserved in the area.

Quaternary alluvial sediments cover some areas in NE the application area. Hydrothermal activity in the application area appears to have predated the Mamaku Ignimbrite. The major style of mineralisation in the area is fissure filling quartz lodes of higher-level epithermal type. Quartz veinlet “stockworks” are closely spatially associated with these lodes, but it is not clear if they are contemporaneous, nor whether they are affected by the same structural controls as the fissure lodes.

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Figure 9: Muirs Reef Project Geological Map Location

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Mineralisation Style

The deposit type in the application area is classed as a low-sulphidation epithermal system comprising a broad NNE-trending quartz vein swarm. The dominant style of mineralisation identified to date in the area is quartz lodes of upper-level epithermal type at several locations including Raparapahoe Stream, Blue Reef, Massey Reef, Muirs Reef, West Reef, Clarke Reef and Otara. Quartz veinlet “stockworks” are closely spatially associated with these lodes. The veining is variable ranging from colloform to crustiform fissure veining up to 18 m wide (Blue Reef, Massey Reef, Muirs Reef) through to silicified breccias (Clarke Reef, Otara) and stockwork veining (found at Muirs NE under post mineral cover, Raparapahoe Stream, Muirs SW, West Reef). Propylitic alteration is common within the andesites and are usually relate to adularia-rich veins. Gold is closely associated with colloform quartz veining and adularia.

A mineralised system has been defined with a strike length of at least 3 km, and which remains open at both ends, and a width of at least 1 km within the application area (Glass Earth, 2009). The most notable veins are the Muirs and Massey veins.

Previous Exploration

The Muirs Reef locality was first prospected as early as 1885, in two areas known as Clarke’s Freehold and Fleming’s Freehold. Several adits were driven in the Clarke’s area, but nothing of value was found. At Fleming’s Freehold, subsequently known as Massey’s a large reef was discovered and investigated by several adits. In 1914, Muir acquired the ground and reassessed it (Downey, 1935). After initial investigation of Massey’s Reef, a prominent spur about 300m to the NE of Massey’s was targeted. A crosscut put into this spur discovered a reef zone subsequently known as Muirs Reef. The reef was developed vigorously over the next five years and was mined systematically through to 1924 (Downey, 1935). A shaft from the surface was put down to approximately 150m, from which crosscuts at seven levels were driven to test both Massey’s and Muirs reefs, and a total of 42,000 oz of gold was recovered from the reef. Work ceased in 1928 due to engineering and economic issues.

A hiatus in exploration and mining occurred until Treasure Syndicate excavated the surface at Massey Reef and changed the name to Te Puke Goldfield in 1964. Mining preparations were commenced by Treasure Syndicate before financial problems led to abandonment of the project.

In 1969 the area was acquired by Mineral Resources NZ Ltd (MRNZL) who have subsequently excavated vein material for aggregate. Geological mapping, limited rock sampling (2 samples), soil sampling (12 samples) and ground magnetic surveying (seven traverses) was completed by Lime and Marble (L&M) / Kennecott JV by 1980 (MR623).

In the subsequent years a number of exploration programs were completed, most notably by BP Minerals in the 1980s under joint venture with Otter Minerals Exploration Limited, and in the early 1990s by Otter themselves. The BP program included geochemical sampling (67 soil samples and 139 rock chip samples) within the application area. Soil sampling has generally not been used to explore the Muirs area because of the 5 – 35 m cover of recent ash material. Gold anomalism identified through rock chip sampling has been identified over a 1 km x 4 km area zone trending NNE that continues under post mineral cover to the south and potentially to the east. The mineralised system at Muirs consists of colloform texture epithermal veining in the south west of the permit and epithermal breccia in the south east of the permit. Both are highly mineralised with elements that suggest the gold mineralisation at Muirs occurs in the upper parts of a low-sulphidation epithermal system.

A series of drilling/trenching programmes (Refer Table 4 Location and Table 5 for assay results) were carried out in the application area. This included eight diamond drill holes, 41 RC and RAB holes. The diamond drilling programme focused on testing at depth and immediately along strike of Massey’s and

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Muirs Reefs, and the reverse-circulation (RC) drilling tested along strike to the north of Muirs Reef. There are 85 intersections with gold mineralisation greater than 0.1 g/t gold and minimum width of 0.5 m. The southernmost drillhole on the Muirs Reef contained a narrow high-grade intercept ( 17 g/t gold ) indicating the lode zone has not terminated. The northernmost drillholes on the Massey Reef showed encouraging mineralisation (>30 g/t gold), which indicated possibilities for extensions to the west of Muirs. The best grade intersected was 51.5 g/t gold and the average grade intersected was 1.99 g/t gold. The best composite drill result includes 41 m @ 1.31 g/t gold from 39m in Muirs NE prospect (MR3656).

Glass Earth Limited up to 2013 executed 24 trenches of 510m total length, 16 diamond drillholes of 3141.25m combined length, 2 RC drillholes of 463m combined length. The historical drilling comprises 12 diamond drillholes with a combined length of 1739m and 40 RC drillholes with a combined length of 3966m. Historical channel sampling includes 7 channel samples taken from surface and underground workings for a total of 253m combined length.

Significant Historical drilling and trenching results (Figure 10, Tables 4 and 5) at the Muirs Project

Diamond & RC drilling (Massey Reef):

11.0m at 11.0 g/t gold from 48m incl. 2.0m @ 38.4g/t gold (MSDDH009)
0.7m at 17.0 g/t gold from 92.2m (TP6)
13.45m at 1.92 g/t gold from 22.0m (MSDDH008)
13.2m at 1.34 g/t gold from 17m (MSDDH014)
14.0m at 2.76 g/t gold from 54m (RC22)
12.0m at 2.36 g/t gold from 79.0m (RC39)
9.0m at 2.70 g/t gold from 29.0m (RC02)
28.0m at 1.57 g/t gold from 48.0m (RC30)
12.0m at 1.33 g/t gold from 48.0m (RC24) Surface trenching grades (Massey Reef):
35m at 2.56 g/t gold (B)
20.0m at 4.91 g/t gold (D)
16.0m at 2.92 g/t gold (MSTR01)
24.0m at 5.72 g/t gold (MSTR06)

Figure 10: Location of drilling and trenching at the Muirs Reef Gold Project.

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Figure 11: Section 5809240N (on bearing 345[o] mag) through northern Limits of Muirs lode system.

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Figure 12: Section 5808350N (on bearing 345o mag) through northern mimits of Massey lode system.

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Non-JORC Historical Estimate

Gold mineralisation at the Muirs Reef Gold Project (that includes Massey Reef) has been estimated by a previous exploration company in 2013, but not to present-day JORC Code reporting standards.

As summarised in Table 1 , gold historical estimates have previously been completed at Muirs Reef Gold Deposits (100% Cyclone-owned), which includes the Massey Reef and Muirs Reef, to yield an aggregated non-JORC historical estimate of:

• 5.15 Mt @ 1.34g/t Au for 222,000 ounces gold (using 0.5g/t Au cut off)*

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Table 1: Non-JORC historical estimate* summarised in January 2013 NI43-101 Technical Report for both Id[2] and OK estimation techniques, using 0.5g/t Au and 1g/t Au cut-off.

*The historical estimates are not reported in accordance with the JORC Code and a competent person has not done sufficient work to classify the historical estimates as mineral resources in accordance with the JORC Code. It is uncertain that following evaluation and further exploration work that the historical estimates will be able to be reported as mineral resources in accordance with the JORC Code.

Cyclone is not in possession of any new information or data relating to the historical estimates that materially impacts on the reliability of the estimates or the Company’s ability to verify the historical estimates as mineral resources or ore reserves in accordance with the JORC Code. A full explanation of the non-JORC historical resource estimates and sources of information are included in the appendix section to this announcement.

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Exploration Potential

The Muir’s Project remains underexplored. Most areas of mineralisation are open at depth and the size of the resource is constrained by limited sampling. Both the size of Massey and Muir’s Reef resource can be potentially increased by drilling at depth beneath existing mineralisation, along strike and by infill drilling on and between sections.

Structural controls on mineralisation are not reasonably well understood and questions remain about the orientation of quartz veining and the potential for depth extensions to mineralisation. A better understanding of structural controls on veining could lead to the discovery of higher-grade mineralisation. For example, bonanza grade veining if it were to be detected would potentially lead to a substantial improvement in the size and quality of the resource. Improved structural understanding is critical to better targeting of exploration effort. For this reason, it is suggested that a detailed structural analysis by an expert is commissioned utilising all available data and that future drilling focuses on quality-oriented drill core.

Quartz veining containing Au mineralisation commonly manifests itself as topographic highs at Muir’s Project. Interpretation of airborne magnetic data suggests that ancient topographical highs, possibly mineralised, may be buried by later erupted ignimbrites. Seismic reflection surveys or another geophysical technique could highlight lithological contrasts between the younger ignimbrite cover and underlying older mineralised rocks and faulting. If successful such a survey could greatly improve understanding of the sub surface geology and generate high quality drill targets.

A more comprehensive program of bulk density testing will be undertaken to improve the accuracy of future Mineral Resource Estimates, and the conversion of the current non-JORC estimate, to JORC 2012.

The proposed work program is as follows:

Stage 1

Detailed structural mapping from existing Gradient Array Resistivity survey and high-resolution magnetic survey, and field checking, in association with Ionic Leach[TM] geochemistry sampling as a first pass. Collection of LiDar (ultra-detailed DEM) may substantially improve understanding of the mineralisation.
Petrographic studies on existing diamond core focusing on fluid inclusion temperature studies would assist in defining potential gold deposition levels.

Stage 2

Infill and step out drilling is recommended using diamond core drilling at both Massey Reef and Muirs Reef to expand the resource, and test targets identified in Stage 1 work.
Convert the non JORC estimate to JORC (2012)

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Acquisition Terms

The material terms of the Acquisition are as follows:

Consideration : the Company will issue Grand Port (or its nominees) 900,000,000 fully paid ordinary shares in the capital of the Company in two tranches:
a. 500,000,000 to be issued under the Company’s existing placement capacity under Listing Rule 7.1 ( Tranche One ); and
b. 400,000,000 to be issued following receipt of shareholder approval ( Tranche Two );
Conditions precedent : completion of due diligence by Cyclone on Grand Port’s business, assets and operations, including but not limited to its mineral tenements, expected to be within 30 days;
Board nominee : Grand Port will have the right to nominate one person to the board of Cyclone; and
Shareholder approval : A notice of meeting will be put to Cyclone shareholders to approve the Acquisition and Tranche Two shares.

Completion of the Acquisition is also conditional upon:

Cyclone receiving written evidence that the relevant minister has consented to the Acquisition proceeding pursuant to the Overseas Investment Act 2005 (NZ);
Cyclone receiving written evidence that the relevant minister has consented to the change in effective control of Grand Port Resources Pty Ltd pursuant to the Crown Minerals Act 1991 (NZ); and
Other conditions considered customary for a transaction of this nature.

Placement

In addition to the above, prior to completion of the Acquisition, Cyclone also proposes to undertake a capital raising to raise $500,000 via the issue of 100,000,000 shares to sophisticated and professional investors, at an issue price of $0.005 per share ( Placement Shares ) with one free attaching option for every 4 shares at an exercise price of $0.006 expiring 12 months from the date of issue ( Placement Options ) (together, the Placement ) . The Placement Shares will be issued under the Company’s existing placement capacity under Listing Rule 7.1A and the Placement Options using the Company’s capacity under Listing Rule 7.1A. Funds raised from the Placement will be applied toward initial work on Grand Port’s projects, costs of the Acquisition and general working capital.

This announcement has been approved by the Company’s board of directors.

Yours faithfully Cyclone Metals Limited

Terry Donnelly Non-Executive Chairman

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For further information please contact:

Investor Relations +61 (0) 8 9380 9555 [email protected]

Competent Persons Statement

The Information in this report that relates to exploration results, mineral resources or ore reserves is based on information compiled by Mr Edward Mead, who is a Member of the Australian Institute of Mining and Metallurgy. Mr Mead is a consultant of the Company. Mr Mead has sufficient experience which is relevant to the style of mineralisation and type of deposits under consideration and to the activity that he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the `Australian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves’ (the JORC Code). Mr Mead consents to the inclusion of this information in the form and context in which it appears in this report.

The information in this report that relates to non-JORC Foreign Estimates is based on information compiled by Mr Edward Mead, a Member of the Australian Institute of Mining and Metallurgy. The information in this announcement provided under ASX Listing Rules 5.12.2 to 5.12.7 is an accurate representation of the available data and studies for the Muirs Reef Project. Mr Mead is a consultant of the company. Mr Mead consents to the inclusion in this report of the matters based on this information in the form and context in which it appears. References and source of information:

January 2013 NI43-101 Technical Report on Resources at Muirs Project, Te Puke, Bay of Plenty, New Zealand, Glass Earth Gold Limited.

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Details of non-JORC Foreign Resource Estimates in relation to ASX LR Chapter 5, for Muirs Reef Gold Project

Sections 5.10 to 5.12: Requirements applicable to reports of foreign estimates and foreign estimates of mineralisation for material mining projects.

ASX Listing Rule	Reference to previous announcement or compliance incurrent draft
	For the qualified non-JORC foreign estimates included in this market
	release, Cyclone is not required to comply with Listing Rule 5.6 (JORC
5.10 - An entity reporting historical estimates or foreign estimates of	Code) as all relevant and requested disclosures are stated in the report
mineralisation in relation to a material mining project to the public is	and tabulated below.
not required to comply with rule 5.6 (The JORC Code) provided the
entity complies with rules 5.12, 5.13 and 5.14.
	The Company complies with 5.12, 5.13 and 5.14 requirements for
	statement of non-JORCforeign resource estimates, as tabled below.
5.11- An entity must not include historical estimates or foreign
estimates (other than qualifying foreign estimates) of mineralisation in
	Cyclone is not applying any economic analysis or commentary to the
an economic analysis (including a scoping study, preliminary
	foreign resource estimates in this market release.
feasibility study, or a feasibility study) of the entity’s mineral resources

and orereservesholdings.
5.12 - Subject to rule 5.13, an entity reporting historical estimates or	The same foreign resource estimates were previously reported to the
foreign estimates of mineralisation in relation to a material mining	TSX and NZSX in February 2013.
project must include all of the following information in a market
announcement and give it to ASX for release to the market.
	The NI 43-101 Summary Report on Muirs was sourced from both Sedar
	and New Zealand Petroleum and Mining Department database
5.12.1 - The source and date of the historical estimates or foreign	• 30 January 2013 – Technical Report on Resources at Muirs Project,
estimates.	Te Puke, Bay of Plenty, New Zealand, Glass Earth Gold Limited.


	Reference to the category of mineralisation at the time was defined as
5.12.2- Whether the historical estimates or foreign estimates use	“Inferred” and comparable to the current JORC Code.
categories of mineralisation other than those defined in Appendix 5A
(JORC Code) and if so, an explanation of the differences.

	The foreign estimates for the gold deposit is relevant and material to
5.12.3 - The relevance and materiality of the historical estimates or
	Cyclone’s planned exploration efforts at Muirs Reef, as it pertains to a
foreign estimates to the entity.
	project that could potentially be economicallyviableforthe Company.

	The historical data was supported by extensive data reviews, and
5.12.4 - The reliability of the historical estimates or foreign estimates,	discussions with the Competent Person Peter Grieve for the January
including by reference to any of the criteria in Table 1 of Appendix 5A	2013 NI 43-101 Mineral Resource Estimate
(JORC Code) which are relevant to understanding the reliability of the	The Competent Person views the foreign estimates as providing
historical estimates or foreign estimates.	reasonable indications of the potential size and grade of the gold
	depositsinthe area based onthe amount ofdrilling completed.
	The non-JORC foreign estimate is based on data from Glass Earth
	Limited and historical data from BP Minerals dating back to the 1980’s.
	BP Minerals 1986 Diamond 6 holes 659.9m (MR646)
	BP Minerals 1988 Diamond and RC 6 holes 782.65m (MR667)
	BP Minerals 1989 RC 6 holes 624m (MR685)
	BP Minerals 1989 RC 3 holes 294.6m (MR686)
	Otter Minerals Exploration Limited 1995 RC 7 holes 1,145m (MR 3374)
	Glass Earth Limited completed 24 trenches with 281 samples from
	510m total length, 16 diamond drillholes of 3141.25m combined length,
5.12.5 - To the extent known, a summary of the work programs on
	2 RC drillholes of 463m combined length. The historical drilling
which the historical estimates or foreign estimates are based and a
	consisted of 7 channel samples taken from surface and underground
summary of the key assumptions, mining and processing parameters
	workings for a total of 253m combined, 12 diamond drillholes with a
and methods used to prepare the historical estimates or foreign
	combined length of 1739m and 40 RC drillholes with a combined length
estimates.
	of 3966m.

	Assays for BP Minerals diamond drilling for performed by W Grayson
	and Associates, Auckland. A 30g fire assay for gold with AAS finish was
	utilized and a 5g aqua regia digest for silver and arsenic with AAS finish
	Assays for RC drilling conducted by MRNZL were performed by SGS
	laboratories in Waihi, NZ and the author has viewed copies of assay
	certificates (MR3374). All gold assays were performed using the 50g
	fire assay method with AAS finish. Silver assays were carried out using
	aquaregia digestfroma 30g samplewith AASfinish.

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	Assays for Glass Earth Limited samples were performed by SGS
	laboratories in Waihi. All gold assays were performed using the 50g Fire
	assay method with AAS finish (FAA515). Silver assays were carried out
	using aqua regia digest from a 30g sample with ICP-MS finish
	(ARM111).
	Both the GEGL database and the historical databases were judged to
	be of sufficient quality to enable an estimate to be undertaken.
	Three drilling and sampling campaigns from separate companies were
	used for the estimate. Thirty-one channel samples with a combined
	length of 768m were included, twenty eight diamond drillholes with a
	combined length of 4,931m and 42 RC drillholes with a combined length
	of 4,565m. This gives a total length of sampling of 10,265m.
	All reference to historical results were sourced from publicly available
	documents.
	No mineral test work or recovery testing has been carried out.
	No economic parametershave beenconsidered.
5.12.6 - Any more recent estimates or data relevant to the reported	There are no more recent estimates, and Cyclone is planning to convert
mineralisationavailable to the entity.	MuirsReef foreignestimate to JORC2012.
5.12.7 - The evaluation and/or exploration work that needs to be	Further exploration field work is required including surveying all
completed to verify the historical estimates or foreign estimates as	historical drillholes, closer-spaced/deeper drilling at and along strike
mineral resources or ore reserves in accordance with Appendix 5A	extensional drilling targeting extensions to known mineralisation, and
(JORC Code)	targets defined using geophysics.
	Cyclone is currently consolidating data so that when the Muirs permit is
	granted, on ground work can be undertaken to generate a JORC 2012
5.12.8 - The proposed timing of any evaluation and/or exploration	Mineral Resource Estimate. The Company is also looking to reprocess
work that the entity intends to undertake and a comment on how the	geophysical data to improve structural interpretation.
entity intends to fund that work.	Cyclone is an ASX-listed Company and will fund exploration work in
	compliance with listing rules, its constitution, market conditions and
	appropriate shareholderapproval.
	The following cautionary statement has been inserted in the report
5.12.9 - A cautionary statement proximate to, and with equal	proximal to mention of foreign resources on pages 1, 8, 13: “Non-JORC
prominence as, the reported historical estimates or foreign estimates	foreign estimate (2013) by Glass Earth Limited on the Muirs Reef
stating that: the estimates are historical estimates or foreign	Project, were summarised in a 2013 NI43-101 Technical Report on
estimates and are not reported in accordance with the JORC Code; a	Resources at Muirs Project, Te Puke, Bay of Plenty, New Zealand,
competent person has not done sufficient work to classify the	Glass Earth Gold Limited.The foreign estimates are not reported in
historical estimates or foreign estimates as mineral resources or ore	*accordance with the JORC Code and a competent person has not*
reserves in accordance with the JORC Code; and it is uncertain that	*done sufficient work to classify the foreign estimates as mineral*
following evaluation and/or further exploration work that the historical	*resources in accordance with the JORC Code*.It is uncertain that
estimates or foreign estimates will be able to be reported as mineral	*following evaluation and further exploration work that the foreign*
resources or ore reserves in accordance with the JORC Code	*estimates will be able to be reported as mineral resources in*
	*accordance with the JORC Code”*.
	Allan Younger, a Geologist and consultant to the Company, is acting as
	the Competent Person for this report - The following statement has
	been included in the Competent Person section:“*The information in*
	*this report that relates to non-JORC Foreign Estimates is based*
5.12.10 - A statement by a named competent person or persons that
	*on information compiled by Mr Allan Younger, a Member of the*
the information in the market announcement provided under rules
	*Australian Institute of Mining and Metallurgy. The information in*
5.12.2 to 5.12.7 is an accurate representation of the available data
	*this announcement provided under ASX Listing Rules 5.12.2 to*
and studies for the material mining project. The statement must
	*5.12.7 is an accurate representation of the available data and*
include the information referred to in rule 5.22(b) and (c).
	*studies for the Muirs Reef Project. Mr Younger is a consultant to*

	*the company. Mr Younger consents to the inclusion in this report*
	*of the matters based on this information in the form and context*
	*in which it appears.”*

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APPENDIX 1.

The following Tables are provided to ensure compliance with the JORC Code (2012 Edition) requirements for the reporting of Exploration Results at the Muirs Gold Project .

Section 1: Sampling Techniques and Data

(Criteria in this section applies 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 sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.	Core samples were collected with a diamond rig drilling mainly NQ2 diameter core. After logging and photographing, NQ2 drill core was cut in half, with one half sent to the laboratory for assay and the other half retained. Holes were sampled over mineralised intervals to geological boundaries on a nominal 1m basis. Sample weights ranged from 2-4kg RC holes were sampled on a 1m basis with samples collected from a cone splitter mounted on the drill rig cyclone. 1m sample ranges from a typical 2.5- 4kg The independent laboratory pulverised the entire sample for analysis as described below. Industry prepared independent standards are inserted. The independent laboratory then takes the samples which are dried, split, crushed and pulverised prior to analysis as described below.
	Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.	Sample sizes are considered appropriate for the material sampled. The samples are considered representative and appropriate for this type of drilling. Diamond core and RC samples are appropriate for use in a resource estimate.
	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.	Reverse circulation drilling was used to obtain 1 m samples. Diamond Drilling also used 1 m lengths or where stated, lithological contacts were used. All samples were pulverized from 2-4kg of sample, to produce a 50 g charge for fire assay for Au and a 30g charge for aqua regia for Ag.
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 of standard tube, depth of diamond tails, face-sampling bit or other type, whether core is orientated and if so, by what method, etc).	Reverse Circulation (RC) hammer drilling, Rotary Air Blast (RAB), and Diamond drilling have been undertaken at Muirs Reef Project.
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed.	Geotechnical logging and petrology were completed on Diamond core with recovery being recorded. RC drilling had recovery recorded along with ground water.
	Measures taken to maximise sample recovery and ensure representative nature of the samples.	Not Known.

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	Whether a relationship exists between sample recoveryand grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	No relationship to bias has been noted.
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.	The entire hole has been geologically logged and core was photographed by the then Company geologists, with systematic sampling undertaken based on rock type and alteration observed. RC and diamond sample results are appropriate for use in a resource estimation.
	Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.	Logging is completed for all types of geological data capture, whether Diamond core, RC, RAB or trenching. Core is photographed.

Criteria	JORC Code explanation	Commentary

	The total length and percentage of the relevant intersections logged.	A total of 9,712.75m of drilling and trenching were logged, which is 100% of all work.
Sub-sampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken.	Core was cut in half and half core was assayed. RC drilling rig was equipped with a rig-mounted cyclone and static cone splitter, which provided one bulk sample of approximately 20- 30 kilograms, and a representative sub-sample of approximately 2- 4 kilograms for every metre drilled.
	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.	Not Known.
	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.	Not Known.
	Whether sample sizes are appropriate to the grain size of the material being sampled.	The sample size of 2-4 kilograms is appropriate and representative of the grain size and mineralisation style of the deposit.
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.	Assays for BP Minerals diamond drilling for performed by W Grayson and Associates, Auckland. A 30g fire assay for gold with AAS finish was utilized and a 5g aqua regia digest for silver and arsenic with AAS finish Assays for RC drilling conducted by MRNZL were performed by SGS laboratories in Waihi, NZ and the author has viewed copies of assay certificates (MR3374). All gold assays were performed using the 50g fire assay method with AAS finish. Silver assays were carried out using aqua regia digest from a 30g sample with AAS finish.
	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.	Assays for Glass Earth samples were performed by SGS laboratories in Waihi. All gold assays were performed using the 50 g fire assay method with AAS finish (FAA515). Silver assays were carried out using aqua regia digest from a 30 g sample with ICP-MS finish (ARM111). Stream Sediment sampling analysis was done using bulk cyanide leach extractable gold method (BLEG) by ALS Chemex in Perth, Western Australia. Detection limits of 0.1 ppb for gold were used. Glass Earth’s 2005 CVR airborne geophysical survey was conducted using a fixed wing aircraft equipped with a Scintrex CS-2 Cesium Vapour Magnetometer. The aircraft also carried a GR-820 Gamma Ray Spectrometer which collected radiometric data along flight lines. Magnetic field (total magnetic intensity) was digitally recorded at a resolution of 0.001nT at 10Hz or 0.1 second reading intervals. Radiometric data was digitally recorded at 1.0 second intervals (1.0Hz).

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Criteria	JORC Code explanation	Commentary

	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.	There is no documentation supplied of quality assurance (QA) procedures used by any BP Minerals Exploration or MRNZL in the handling and treatment of analytical samples, or the use of blanks, duplicates, and standards inserted into the assay pulp stream. Reliance must be placed on the historic professional levels of expertise and sample handling that were expected of technical staff and assay labs of the time. The certification of analytical labs to ISO 9001/9002 standards was not in effect in the 1980’s or 1990’s. Glass Earth Limited conducted a QA program which consisted of blanks and standards inserted routinely into sample batches. Blanks were inserted at the start of each batch to check for contamination from prior assay work and certified standards were inserted every 30 samples. Duplicates were only taken from RC samples. Certified standards were supplied by Rocklabs Ltd.
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel.	No known.
	The use of twinned holes.	No holes have been twinned at this stage.
	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic)protocols.	Not known for work programs pre 2004. Glass Earth kept digital copies and hardcopy of all work programs.
	Discuss any adjustment to assay data.	No adjustments have been made.
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.	Drill holes have been surveyed with a hand held GPS. NZTM
	Specification of the grid system used.
	Quality and adequacy of topographic control.

Criteria	JORC Code explanation	Commentary

Data spacing and distribution	Data spacing for reporting of Exploration Results.	Data spacing is variable from 200m to 50m spacing.
	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.	Data spacing has produced a Non-JORC estimate that has been reported in this news release using Chapter 5. The resource will be converted to JORC once on ground work can be undertaken.
	Whether sample compositing has been applied.	Not Known.
Orientation of data in relation to geological structure	Whether the orientation of sampling achieves unbiasedsampling of possible structures and the extent to which this is known, considering the deposit type.	Drilling is perpendicular to the main known strike of the gold bearing reefs.
	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.
Sample security	The measures taken to ensure sample security.	Not Known.

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Criteria	JORC Code explanation	Commentary

Audits or reviews	The results of any audits or reviews of sampling techniques and data.	Glass Earth Limited undertook audits and reviews on all data when added into the exploration database. This included 24 blank standards and 153 certified assay standards for Glass Earth Limited drilling and trenching programs.

Section 2: Reporting of Exploration Results

(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 ownershipincluding 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.	Midway Resources Limited is the 100% owner of Exploration Permit application EP60671 at Muirs Reef. There are no third-party royalties or agreements.
	The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	No perceived risk with tenure or with applications not being granted, under the NZP&M system. Under the NZ system the application process is competitive and the best application is awarded the application with the right to move to grant. Mareburn has been granted with all other permits moving towards grant.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	A history of exploration is included under the header Previous Exploration. The quality of exploration work is high, with acknowledgement by some parties that structural understanding is the path forward. A resistivity survey and ground magnetic surveying was also conducted by Otter Minerals in 1995 (MR3355). Glass Earth Gold held the Muirs Reef area under permit EP40667 and part of EP40768 from 2004 to 2013, where they conducted a range of intensive exploration during this period, building on the interpretation of the mineralised system developed from previous geophysics (airborne and ground), geological mapping, geochemical sampling and drilling. The work included additional drilling, trenching, resource modelling and the commencement of conceptual approaches to mining. An airborne magnetic geophysical survey was conducted as part of Glass Earths 2005 CVR airborne geophysical project. A 2013 ground based Gradient Array Resistivity Survey was also carried out with a line spacing of 20 m between electrodes along 900-1,000 m spreads.
Geology	Deposit type, geological setting and style of mineralisation.	The Central Volcanic Region (CVR) also known as the Taupo Volcanic Zone (TVZ) is a tectonic-volcanic region 30-50 km wide NNE from Mt Ruapehu to White Island. It is the main region of quaternary volcanism and geothermal activity in New Zealand occupying a major graben structure infilled by rhyolitic intrusive and extrusive rocks and volcanic derived sediments underlain by westerly dipping basement greywacke. Structurally the formation of the CVR is controlled by subduction of the westerly dipping Pacific plate beneath the Indian plate. Hydrothermal activity in the application area appears to have predated the Mamaku Ignimbrite. The major style of mineralisation in the area is fissure filling quartz lodes of higher-level epithermal type. Quartz veinlet “stockworks” are closely spatially associated with these lodes, but it is not clear if they are contemporaneous, nor whether they are affected by the same structural controls as the fissure lodes.

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Criteria	JORC Code explanation	Commentary

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:	Refer Table 2 for Muirs Reef drill hole information.
	• easting and northing of the drill hole collar • elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar • dip and azimuth of the hole • down hole length and interception depth • hole length.	Coordinates are reported in NZTM.
	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.	Refer Table 2 for Muirs Reef drill hole information.
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.	No top cuts have been applied.
	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.	All intervals reported are composed of 1 metre down hole intervals for Reverse Circulation drilling, and 1m intervals for Diamond core unless stated, and length weighted. No upper or lower cut-off grades have been used in reporting results.
	The assumptions used for any reporting of metal equivalent values should be clearly _stated. _	No metal equivalent calculations are used in this report.
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 (eg ‘down hole length, true width not known’).	True widths of mineralisation have not been calculated for this report, and as such all intersections reported are down-hole thicknesses. A better understanding of the deposit geometry will be achieved on thorough interpretation of the data. True thicknesses may be reported at a later date if warranted. Due to the moderately to steeply dipping nature of the mineralised zones, it is expected that true thicknesses will be less than the reported down-hole thicknesses.
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.	Appropriate diagrams and Figures are contained in the body of the news release.
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. _	Reporting of Exploration Results is considered balanced and all work has been 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.	A history of exploration is included under the header Previous Exploration. The quality of exploration work is high, with acknowledgement by some parties that structural understanding is the path forward.

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Criteria	JORC Code explanation	Commentary

Further work	The nature and scale of planned further work (eg. 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.	Stage 1 • Detailed structural mapping from existing Gradient Array Resistivity survey and high resolution magnetic survey, and field checking, in association with Ionic LeachTM geochemistry sampling as a first pass. Collection of LiDar (ultra-detailed DEM) may substantially improve understanding of the mineralisation. • Petrographic studies on existing diamond core focusing on fluid inclusion temperature studies would assist in defining potential gold deposition levels. Stage 2 • Infill and step out drilling is recommended using diamond core drilling at both Massey Reef and Muirs Reef to expand the resource, and test targets identified in Stage 1 work. • Convert thenonJORC estimate to JORC (2012

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The following Tables are provided to ensure compliance with the JORC Code (2012 Edition) requirements for the reporting of Exploration Results at the Mareburn Gold Project .

Section 1: Sampling Techniques and Data

(Criteria in this section applies 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 sondes, or handheld XRF instruments, etc). These examples should not be taken as _limiting the broad meaning of sampling. _	Every metre drilled was sampled at the drill rig using a rig mounted static cone splitter to collect 2 – 3kg sub samples. 3m composites through the geologically determined non- mineralised zones were collected using the pipe/spear method of sampling the coarse reject sample collected in standard green bags, which remain at the drill site.
	Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.	Standard reference material, sample duplicates were used as per industry standard.
	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.	A combination of RC 1m split and 3m composite samples RAB drilling. Assaying at commercial NZ laboratory W Grayson & Associates and at the Macraes Gold Mine assay laboratory for crushing, splitting and analysis. Analysis was undertaken for gold assay by 50g fire assay.
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 of standard tube, depth of diamond tails, face- sampling bit or other type, whether core is orientated and if so, by what method, etc).	Reverse Circulation (RC) drilling, and 9 RAB drill holes.
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed.	Drill recovery was routinely recorded via estimation of the comparative percentage of the volume of the sample bag by the company geologist. The sample recovery was deemed adequate for representative assays.
	Measures taken to maximise sample recovery and ensure representative nature of the samples.	A qualitative estimate of sample weight was undertaken to ensure consistency of sample size and to monitor sample recoveries at the time ofdrilling.
	Whether a relationship exists between sample recoveryand grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	Drill sample recovery and quality is considered to be adequate for the drilling technique employed.
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.	All holes have been geologically logged for lithology, mineralisation and weathering. A brief description of each drilling sample was recorded.
	Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.	Lithology codes have been interpreted by a geologist for consistency across the project.
	The total length and percentage of the relevant intersections logged.	Veining, shearing and mineralisation noted in lithological logs.
Sub-sampling techniques and	If core, whether cut or sawn and whether quarter, half or all core taken.	A sub sample from the RC drill rig of approximately 2- 4kg was taken from a rig mounted riffle splitter off the cyclone. Samples were pulverised to 95% passing75microns. Fromthis a 50g

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sample preparation	If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.	If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.	charge was taken for fire assay with AAS finish. These assaying techniques are considered appropriate for this style of mineralisation.
	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.		QAQC data is not known.
	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.		The use of fire assay with 50g charge for all RC drilling provides a level of confidence in the assay database. The sampling and assaying in considered representative of the in-situ material.
	Whether sample sizes are appropriate to the grain size of the material being sampled.		The sample size of 2-4 kilograms is appropriate and representative of the grain size and mineralisation style of the deposit.
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.		The laboratory techniques below were for all samples submitted and are considered appropriate for the style of mineralisation defined within the Mareburn area: Samples above 3Kg were riffle split. Samples were dried, crushed to -6mm then pulverised to 95% passing 75 microns, a 250 gm split sample was roll mixed and subsampled for a 50-gram Fire Assay with AAS finish - Au.
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel.		Unknown
	The use of twinned holes.		No twinned holes were drilled.
	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic)protocols.		Data were found to be of high quality and in accordance with contract specifications. Laboratory standards and blank samples were inserted at regular intervals and some duplicate samples were taken for QC checks.
	Discuss any adjustment to assay data.		No adjustments were made 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.		Survey methods prior to 2000 are unknown, post 2000 collars were picked up by licensed surveyor. NZTM and NZ49


Criteria		JORC Code explanation	Commentary

Data spacing and distribution		Data spacing for reporting of Exploration Results.	Collar information or the reported holes is provided. Rockchip samples were randomly collected and were appropriate given the objectives of the program.
		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.	Intercepts given are downhole widths with the true widths not determined.
		Whether sample compositing has been applied.	Single metre sampling used within mineralised zones.
Orientation of data in relation to geological structure		Whether the orientation of sampling achieves unbiasedsampling of possible structures and the extent to which this is known, considering the deposit type.	Drill holes and have generally been drilled vertically, on a NW orientated grid defined by the Macraes Gold Mining Grid. Geochemical sampling has also used this grid. Future work by Cyclone intends to use a N-S grid.

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Criteria	JORC Code explanation	Commentary

	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.
Sample security	The measures taken to ensure sample security.	Sample security measures for historical drilling are unknown.
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	Audit reviews are unknown.

Section 2: Reporting of Exploration Results

(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 ownershipincluding 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.	Midway Resources Limited is the 100% owner of Exploration Permit application EP60663 at Mareburn. There are no royalties or third-party agreements.
	The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	No perceived risk with tenure or with applications not being granted, under the NZP&M system. Under the NZ system the application process is competitive and the best application is awarded the application with the right to move to grant. Mareburn has been granted with all other permits moving towards grant.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	A history of exploration is included under the header Previous Exploration for each of the project areas, Muirs, Mareburn, and Longwood Range. The quality of exploration work is high, with acknowledgement by some parties that structural understanding is the path forward.
Geology	Deposit type, geological setting and style of mineralisation.	Mineralisation in the application area has formed predominantly low-angle (dip < 20°), grey-white quartz veins with associated silicified and brecciated schist (± arsenopyrite ± gold), of between 4- to 30 cm thickness (Teagle et. al., 1990). They are commonly subparallel to the bounding fractures and concordant with the foliation of the host schist. Veins are lensoidal in both length and breadth and no one lens appears to be continuous for more than 10 to 15 m either along strike or down-dip. In cross section these veins appear to be sinuous, thickened on the shallowly dipping parts of faults and at bends, with decreased thicknesses of mineralisation in the steeper segments. The schist surrounding quartz veins is commonly silicified (Teagle et. al., 1990).
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:	See Table 5 for drill hole information.

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Criteria	JORC Code explanation	Commentary

	• easting and northing of the drill hole collar • elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar • dip and azimuth of the hole • down hole length and interception depth • hole length.	NZTM
	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.
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.	No cut offs have been used.
	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. _	No metal equivalents being used.
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 (eg ‘down hole length, true width not known’).	Drilling is vertical into low angle mineralisation with shear zones, so is thought to be near true width. Even with this interpretation, without diamond core, it is still unknown whether the interpretation is correct.
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.	Appropriate diagrams and Figures are contained in the body of the news release.
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. _	All results have been 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.	A history of exploration is included under the header Previous Exploration. The quality of exploration work is high, with acknowledgement by some parties that structural understanding is the path forward.

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Criteria	JORC Code explanation	Commentary

Further work	The nature and scale of planned further work (eg.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.	An initial orientation survey to trial some newer techniques (Ionic LeachTMgeochemistry) and “fingerprint” multi-element analysis of mineralised rock chip samples. Sub-Audio-Magnetics (SAM) survey to define structural corridors in a non-magnetic environment. Drill testing of targets generated from the above work programs, particularly focusing on structure perpendicular to the main Hyde -Macraes Shear zone.

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The following Tables are provided to ensure compliance with the JORC Code (2012 Edition) requirements for the reporting of Exploration Results at the Longwood Range Gold Project .

Section 1: Sampling Techniques and Data

(Criteria in this section applies 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 sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.	No sampling being reported.
	Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.	No sampling being reported.
	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 samplingproblems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.	No sampling being reported.
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 of standard tube, depth of diamond tails, face-sampling bit or other type, whether core is orientated and if so, by what method, etc).	4 diamond drill holes were completed by Anzex Limited in the late 90’s, but this drilling is not being reported. There is no other known drilling within the project.
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed.	No drilling being reported.
	Measures taken to maximise sample recovery and ensure representative nature of the samples.	No drilling being reported.
	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.	No drilling being reported.
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.	No drilling being reported.
	Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.	No drilling being reported.

Criteria	JORC Code explanation	Commentary

	The total length and percentage of the relevant intersections logged.	No drilling being reported.
Sub-sampling techniques and sample	If core, whether cut or sawn and whether quarter, half or all core taken.	No drilling being reported.

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Criteria	JORC Code explanation	Commentary

preparation	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.	No drilling being reported.
	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.	No drilling being reported.
	Whether sample sizes are appropriate to the grain size of the material being sampled.	No drilling being reported.
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.	No drilling being reported. No drilling being reported. No drilling being reported.
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel.	No drilling being reported.
	The use of twinned holes.	No drilling being reported.
	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.	No drilling being reported.
	Discuss any adjustment to assay data.	No drilling being reported.
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.	No drilling being reported.
	Specification of the grid system used.
	Quality and adequacy of topographic control.
Data spacing and distribution	Data spacing for reporting of Exploration Results.	Exploration is at too early a stage to comment on data spacing.
	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.	No data density to enable any estimation for an MRE.
	Whether sample compositing has been applied.	No compositing 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.	Too early to comment on orientation.

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Criteria	JORC Code explanation	Commentary

	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.	No drilling being reported.
Sample security	The measures taken to ensure sample security.	No drilling being reported.
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	No review of sampling techniques for geochemistry, 4 diamond drill holes, geophysics, has been undertaken.

Section 2: Reporting of Exploration Results

(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 ownershipincluding 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.	Midway Resources Limited is the 100% owner of 3 permits that make up Longwood Range. Prinz Exploration Permit application EP60694, Longwood Tops Prospecting Permit application PP60693 and Merivale Exploration Permit application EP60692. There are no royalties or third-party agreements. Longwood Tops and Merivale are within Department of Conservation (DOC) administered land. This requires consents from DOC as well as the District council for ground disturbing activities such as drilling and trenching.
	The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	No perceived risk with tenure or with applications not being granted, under the NZP&M system. Under the NZ system the application process is competitive and the best application is awarded the application with the right to move to grant.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	A history of exploration is included under the header Previous Exploration for each of the project areas, Muirs, Mareburn, and Longwood Range. The quality of exploration work is high, with acknowledgement by some parties that structural understanding is the path forward.
Geology	Deposit type, geological setting and style of mineralisation.	Structurally controlled Au deposits and Intrusion Related Gold deposits (IRG), that are the potential source of the significant amount of alluvial Au obtained in the region. Potential IRG deposit styles being investigated are Sanukitoids/high magnesium diorites. Midway is also interested in hard rock PGE mineralisation within the Hekeia Gabbro, which is wholly contained within Longwood Range. Alluvial platinum has been recovered with alluvial Au operations in the area.
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:	4 diamond drill holes were completed at Longwood Range by Anzex and target geological models and Pt Pd geochemical anomalies. These holes are referred to briefly, but results are not included in this news release.
	• easting and northing of the drill hole collar • elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar • dip and azimuth of the hole • down hole length and interception depth • hole length.	No drilling being reported.

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Criteria	JORC Code explanation	Commentary

	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.	No drilling being reported.
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.	No data aggregation is being used.
	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.	No aggregation of mineralised intercepts is being reported.
	The assumptions used for any reporting of metal equivalent values should be clearly stated.	No metal equivalents are being used or reported.
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 (eg ‘down hole length, true width not known’).	Mineralisation widths not being reported. 4 diamond drill holes completed by ANEX are not being reported.
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.	Appropriate diagrams and Figures are contained in the body of the news release.
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.	This news release contains information on all past exploration and production from the permits and is considered to be balanced.
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.	A history of exploration is included under the header Previous Exploration. The quality of exploration work is high, with acknowledgement by some parties that structural understanding is the path forward.
Further work	The nature and scale of planned further work (eg. 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.	Cyclone plans to undertake Ionic LeachTMgeochemistry as a first pass, and then focus on high-resolution magnetics and structural modelling. The previous work by explorers, is available in NZP&M reports and data, and although difficult to JORC, it gives Midway the indicators of where to focus exploration efforts in the short term. Cyclone will also consider an airborne electromagnetic survey looking for higher sulphidation areas for copper sulphides.

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Table 2: Mareburn Drill Collar Data

Company	Hole ID	Type	NZTM East(m)	NZTM North(m)	RL(m)	Depth(m)	Dip
Sigma Resources Ltd	MEH1	RAB	1395307	4980238	521	15	-90
Sigma Resources Ltd	MEH2	RAB	1395285	4980156	529	15	-90
Sigma Resources Ltd	MEH3	RAB	1395131	4979964	537	30	-90
Sigma Resources Ltd	MEH4	RAB	1394935	4980011	507	30	-90
Sigma Resources Ltd	MEH5	RAB	1395116	4980109	530	20	-90
Sigma Resources Ltd	MEH6	RAB	1395139	4980405	515	20	-90
Sigma Resources Ltd	MEH7	RAB	1394962	4980309	516	21	-90
Sigma Resources Ltd	MEH8	RAB	1394903	4980276	511	24	-90
Sigma Resources Ltd	MEH9	RAB	1395023	4980141	522	28	-90
Sigma Resources Ltd	MEH10	RAB	1394970	4980143	521	78	-90
Sigma Resources Ltd	MEH10A	RAB	1394974	4980147	521	8	-90
Sigma Resources Ltd	MEH11	RAB	1394871	4980148	510	22	-90
Sigma Resources Ltd	MEH12	RAB	1394768	4980162	502	24	-90
Sigma Resources Ltd	MEH13	RAB	1394715	4980178	503	24	-90
Sigma Resources Ltd	MEH14	RAB	1394793	4980269	501	31	-90
Sigma Resources Ltd	MEH15	RAB	1394722	4980274	497	24	-90
Sigma Resources Ltd	MEH16	RAB	1394644	4980286	497	24	-90
Sigma Resources Ltd	MEH17	RAB	1394635	4980240	496	11	-90
Sigma Resources Ltd	MEH17A	RAB	1394635	4980233	496	15	-90
Sigma Resources Ltd	MEH18	RAB	1394433	4980258	497	24	-90
Sigma Resources Ltd	MEH19	RAB	1394517	4980392	498	24	-90
Sigma Resources Ltd	MEH20	RAB	1394415	4980378	502	18.5	-90
Sigma Resources Ltd	MEH21	RAB	1394428	4980435	504	18.5	-90
Sigma Resources Ltd	MERC1	RC	1395141	4980003	539	62	-90
Sigma Resources Ltd	MERC2	RC	1394990	4980201	523	94	-90
Sigma Resources Ltd	MERC3	RC	1394881	4980187	515	100	-90
Sigma Resources Ltd	MERC4	RC	1394826	4980252	505	91	-90
Sigma Resources Ltd	MERC5	RC	1394694	4980259	497	71	-90
Sigma Resources Ltd	MERC6	RC	1394654	4980318	502	97	-90
Sigma Resources Ltd	MERC7	RC	1394486	4980359	503	121	-90
Sigma Resources Ltd	MERC8	RC	1394358	4980384	497	113	-90
Sigma Resources Ltd	RAB01	RAB	1393879	4980297	495	39	-90
Sigma Resources Ltd	RAB02	RAB	1393861	4980297	495	39	-90
Sigma Resources Ltd	RAB03	RAB	1393841	4980301	495	36	-90
Sigma Resources Ltd	RAB04	RAB	1393820	4980305	495	39	-90
Sigma Resources Ltd	RAB05	RAB	1393802	4980317	490	39	-90
Sigma Resources Ltd	RAB06	RAB	1393819	4980287	495	24	-90
Sigma Resources Ltd	RAB07	RAB	1393183	4980111	495	35	-90
Sigma Resources Ltd	RAB08	RAB	1393195	4980093	495	11	-90
Sigma Resources Ltd	RAB09	RAB	1393113	4980200	480	24	-90
Sigma Resources Ltd	RAB10	RAB	1392683	4980377	470	36	-90
Sigma Resources Ltd	RAB11	RAB	1393069	4980115	480	19	-90
Oceanagold Ltd	RCH4519	RC	1392616	4980345	474.41	126	-90
Oceanagold Ltd	RCH4520	RC	1392738	4980212	480.79	102	-90
Oceanagold Ltd	RCH4521	RC	1393161	4980224	473.1	85	-90
Oceanagold Ltd	RCH4522	RC	1393072	4980123	478.95	48	-90
Oceanagold Ltd	RCH4523	RC	1393166	4980083	495.29	30	-90
Oceanagold Ltd	RCH4524	RC	1393854	4980415	458.81	72	-90
Oceanagold Ltd	RCH4525	RC	1393652	4980309	462.3	48	-90
Oceanagold Ltd	RCH4526	RC	1393444	4980233	477.77	72	-90
Oceanagold Ltd	RCH4527	RC	1393863	4980318	483.86	30	-90
Oceanagold Ltd	RCH4528	RC	1393800	4980304	490.28	30	-90
OceanagoldLtd	RCH4529	RC	1394343	4980352	500.99	30	-90

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Company	Company	Hole ID	Hole ID	Hole ID	Type	Type	NZTM East(m)	NZTM East(m)	NZTM North(m)	NZTM North(m)	RL(m)	RL(m)	Depth(m)	Dip	Azimuth
Oceanagold Ltd		RCH4530			RC		1394288		4980399		482.61		56	-90	0
Oceanagold Ltd		RCH4531			RC		1394249		4980336		488.45		30	-90	0
Oceanagold Ltd		RCH4532			RC		1394427		4980404		502.89		54	-90	0
Oceanagold Ltd		RCH4533			RC		1394467		4980461		484.02		96	-90	0
Oceanagold Ltd		RCH4534			RC		1394410		4980533		474.45		102	-90	0
Oceanagold Ltd		RCH4535			RC		1394358		4980473		485.09		74	-90	0
Oceanagold Ltd		RCH4536			RC		1394316		4980497		471.61		52	-90	0
Oceanagold Ltd		RCH4537			RC		1394527		4980384		496.1		84	-90	0
Oceanagold Ltd		RCH4538			RC		1394644		4980340		504.96		60	-90	0
Oceanagold Ltd		RCH4539			RC		1394778		4980337		492.73		60	-90	0
Oceanagold Ltd		RCH4540			RC		1394859		4980276		511.43		66	-90	0
Oceanagold Ltd		RCH4541			RC		1395000		4980280		518		72	-90	0
Oceanagold Ltd		RCH4542			RC		1394376		4980390		500.62		24	-90	0
Oceanagold Ltd		RCH4543			RC		1394392		4980438		494.7		30	-90	0
Oceanagold Ltd		RCH4544			RC		1394385		4980504		480.24		54	-90	0
Oceanagold Ltd		RCH4545			RC		1392963		4980143		451.11		72	-90	0
Oceanagold Ltd		RCH4547			RC		1392882		4980204		480.85		102	-90	0
Oceanagold Ltd		RCH6217			RC		1394037		4980441		507.185		138	-70	155
Oceanagold Ltd		RCH6218			RC		1394082		4980526		514.902		134	-70	155
Oceanagold Ltd		RCH6219			RC		1394147		4980526		517.257		162	-70	155
Oceanagold Ltd		RCH6220			RC		1394178		4980608		518.891		173	-60	133
Oceanagold Ltd		RCH6221			RC		1394364		4980646		531.963		137	-60	155
Oceanagold Ltd		RCH6222			RC		1394244		4980664		528.476		167	-60	155
Oceanagold Ltd		RCH6315			RC		1391705		4981518		540		102	-90	0
Oceanagold Ltd		RCH6316			RC		1391742		4981498		550		102	-90	0
Oceanagold Ltd		RCH6317			RC		1391819		4981443		570		108	-90	0
Oceanagold Ltd		RCH6318			RC		1391775		4981455		560		102	-90	0
Table 3: Selected Mareburn Assays (>0.2g/t Au)
Company	HOLEID		FROM	TO		Drill Type	Sample Type	SAMPLEID		Au ppm		As ppm
Kiwi Itl/Sigma Res	MEH09		18	19		RAB	Chips	KG-C12671		0.79		200
Kiwi Itl/Sigma Res	MEH09		19	20		RAB	Chips	KG-C12672		0.32		110
Kiwi Itl/Sigma Res	MEH09		20	21		RAB	Chips	KG-C12673		0.44		170
Kiwi Itl/Sigma Res	MEH14		14	15		RAB	Chips	KG-C12780		4.88		5000
Kiwi Itl/Sigma Res	MEH15		11	12		RAB	Chips	KG-C12808		0.29		270
Kiwi Itl/Sigma Res	MEH15		12	13		RAB	Chips	KG-C12809		0.21		280
Kiwi Itl/Sigma Res	MEH18		3	4		RAB	Chips	KG-C12874		0.31		90
Kiwi Itl/Sigma Res	MEH18		4	5		RAB	Chips	KG-C12875		0.38		250
Kiwi Itl/Sigma Res	MEH21		1	2		RAB	Chips	KG-C12942		0.21		320
Kiwi Itl/Sigma Res	MEH21		2	3		RAB	Chips	KG-C12943		0.58		450
Kiwi Itl/Sigma Res	MEH21		3	4		RAB	Chips	KG-C12944		0.25		650
Kiwi Itl/Sigma Res	MEH21		4	5		RAB	Chips	KG-C12945		0.56		1080
Kiwi Itl/Sigma Res	MEH21		5	6		RAB	Chips	KG-C12946		5.40		1400
Kiwi Itl/Sigma Res	MEH21		6	7		RAB	Chips	KG-C12947		3.30		1300
Kiwi Itl/Sigma Res	MEH21		7	8		RAB	Chips	KG-C12948		2.43		2700
Kiwi Itl/Sigma Res	MEH21		8	9		RAB	Chips	KG-C12949		1.46		2700
Kiwi Itl/Sigma Res	MEH21		9	10		RAB	Chips	KG-C12950		3.18		3300
Kiwi Itl/Sigma Res	MEH21		10	11		RAB	Chips	KG-C12951		2.34		2600
Kiwi Itl/Sigma Res	MEH21		11	12		RAB	Chips	KG-C12952		0.38		1050
Kiwi Itl/Sigma Res	MERC1		14	15		RC	Chips	KG-MERC1-14		0.24		na
Kiwi Itl/Sigma Res	MERC2		75	76		RC	Chips	KG-C13947		0.26		na
Kiwi Itl/Sigma Res	MERC4		6	7		RC	Chips	KG-C13989		0.28		na
Kiwi Itl/Sigma Res	MERC4		11	12		RC	Chips	KG-MERC4-11		0.33		na
Kiwi Itl/Sigma Res	MERC4		21	22		RC	Chips	KG-C13994		0.24		na
Kiwi Itl/Sigma Res	MERC4		24	25		RC	Chips	KG-C13995		0.49		na
Kiwi Itl/Sigma Res	MERC4		32	33		RC	Chips	KG-MERC4-32		0.36		na
Kiwi Itl/Sigma Res	MERC4		33	34		RC	Chips	KG-C13998		0.24		na

Cyclone Metals Limited ASX: CLE

Page: 38 of 54

ASX Announcement 17 March 2022

==> picture [143 x 48] intentionally omitted <==

Company	HOLEID	FROM	TO	Drill Type	Sample Type	SAMPLEID	Au ppm	As ppm
Kiwi Itl/Sigma Res	MERC5	2	3	RC	Chips	KG-MERC5-2	3.18	na
Kiwi Itl/Sigma Res	MERC6	27	28	RC	Chips	KG-C14050	0.59	na
Kiwi Itl/Sigma Res	MERC7	52	53	RC	Chips	KG-MERC7-52	0.25	na
Kiwi Itl/Sigma Res	RAB01	0	1	RAB	Chips	KI00001	1.22	220
Kiwi Itl/Sigma Res	RAB01	1	2	RAB	Chips	KI00002	1.03	370
Kiwi Itl/Sigma Res	RAB01	2	3	RAB	Chips	KI00003	1.95	620
Kiwi Itl/Sigma Res	RAB01	3	4	RAB	Chips	KI00004	2.44	590
Kiwi Itl/Sigma Res	RAB01	4	5	RAB	Chips	KI00005	1.01	430
Kiwi Itl/Sigma Res	RAB01	5	6	RAB	Chips	KI00006	0.77	320
Kiwi Itl/Sigma Res	RAB01	6	7	RAB	Chips	KI00007	0.54	250
Kiwi Itl/Sigma Res	RAB01	7	8	RAB	Chips	KI00008	1.41	160
Kiwi Itl/Sigma Res	RAB01	8	14	RAB	Chips	KI00009	0.77	40
Kiwi Itl/Sigma Res	RAB01	15	16	RAB	Chips	KI00011	0.23	60
Kiwi Itl/Sigma Res	RAB01	18	19	RAB	Chips	KI00014	0.22	120
Kiwi Itl/Sigma Res	RAB01	19	20	RAB	Chips	KI00015	0.35	80
Kiwi Itl/Sigma Res	RAB02	0	1	RAB	Chips	KI00022	1.48	340
Kiwi Itl/Sigma Res	RAB02	1	2	RAB	Chips	KI00023	3.31	290
Kiwi Itl/Sigma Res	RAB02	2	3	RAB	Chips	KI00024	0.67	190
Kiwi Itl/Sigma Res	RAB02	3	4	RAB	Chips	KI00025	0.58	220
Kiwi Itl/Sigma Res	RAB02	4	5	RAB	Chips	KI00026	0.27	210
Kiwi Itl/Sigma Res	RAB02	18	19	RAB	Chips	KI00040	0.30	320
Kiwi Itl/Sigma Res	RAB07	0	5	RAB	Chips	KI00107	0.22	170
Kiwi Itl/Sigma Res	RAB10	0	1	RAB	Chips	KI00145	0.40	30
Kiwi Itl/Sigma Res	RAB10	3	4	RAB	Chips	KI00148	0.59	360
Kiwi Itl/Sigma Res	RAB10	12	13	RAB	Chips	KI00157	0.23	30
Kiwi Itl/Sigma Res	RAB11	0	1	RAB	Chips	KI00181	0.26	170
Kiwi Itl/Sigma Res	RAB11	1	2	RAB	Chips	KI00182	0.63	2700
Kiwi Itl/Sigma Res	RAB11	2	3	RAB	Chips	KI00183	0.99	1700
Kiwi Itl/Sigma Res	RAB11	3	4	RAB	Chips	KI00184	0.75	1200
Kiwi Itl/Sigma Res	RAB11	4	5	RAB	Chips	KI00185	0.41	650
Kiwi Itl/Sigma Res	RAB11	5	6	RAB	Chips	KI00186	0.33	1200
OceanaGold	RCH4509	99	100	RC	Chips	CG06737	0.51	na
OceanaGold	RCH4509	100	101	RC	Chips	CG06738	1.03	na
OceanaGold	RCH4509	102	103	RC	Chips	CG06740	0.36	na
OceanaGold	RCH4509	114	115	RC	Chips	CG06752	0.23	na
OceanaGold	RCH4517	99	100	RC	Chips	CG07325	0.22	na
OceanaGold	RCH4518	16	17	RC	Chips	CG07362	2.19	na
OceanaGold	RCH4518	17	18	RC	Chips	CG07363	2.55	na
OceanaGold	RCH4518	18	19	RC	Chips	CG07364	0.58	na
OceanaGold	RCH4519	38	39	RC	Chips	CG07536	0.42	na
OceanaGold	RCH4519	110	111	RC	Chips	CG07608	0.52	na
OceanaGold	RCH4519	111	112	RC	Chips	CG07609	0.31	na
OceanaGold	RCH4519	112	113	RC	Chips	CG07610	0.37	na
OceanaGold	RCH4519	115	116	RC	Chips	CG07613	0.21	na
OceanaGold	RCH4520	66	67	RC	Chips	CG07692	0.29	na
OceanaGold	RCH4520	76	77	RC	Chips	CG07702	0.20	na
OceanaGold	RCH4523	4	5	RC	Chips	CG07871	0.45	na
OceanaGold	RCH4524	32	33	RC	Chips	CG07931	0.38	na
OceanaGold	RCH4525	9	10	RC	Chips	CG07982	0.51	na
OceanaGold	RCH4527	9	10	RC	Chips	CG08105	0.29	na
OceanaGold	RCH4529	3	4	RC	Chips	CG08163	0.34	na
OceanaGold	RCH4529	4	5	RC	Chips	CG08164	1.27	na
OceanaGold	RCH4531	9	10	RC	Chips	CG08259	0.47	na
OceanaGold	RCH4531	10	11	RC	Chips	CG08260	0.81	na
OceanaGold	RCH4531	20	21	RC	Chips	CG08270	0.35	na
OceanaGold	RCH4532	0	1	RC	Chips	CG08282	2.14	na
OceanaGold	RCH4532	1	2	RC	Chips	CG08283	0.32	na
OceanaGold	RCH4532	2	3	RC	Chips	CG08284	0.28	na
OceanaGold	RCH4532	3	4	RC	Chips	CG08285	0.61	na
OceanaGold	RCH4532	4	5	RC	Chips	CG08286	0.17	na
OceanaGold	RCH4533	76	77	RC	Chips	CG08414	0.38	na

Cyclone Metals Limited ASX: CLE

Page: 39 of 54

ASX Announcement 17 March 2022

==> picture [143 x 48] intentionally omitted <==

Company	HOLEID	FROM	TO	Drill Type	Sample Type	SAMPLEID	Au ppm	As ppm
OceanaGold	RCH4534	4	5	RC	Chips	CG08440	0.22	na
OceanaGold	RCH4534	5	6	RC	Chips	CG08441	0.22	na
OceanaGold	RCH4534	6	7	RC	Chips	CG08442	0.35	na
OceanaGold	RCH4534	13	14	RC	Chips	CG08449	1.00	na
OceanaGold	RCH4534	14	15	RC	Chips	CG08450	0.70	na
OceanaGold	RCH4534	15	16	RC	Chips	CG08451	0.58	na
OceanaGold	RCH4534	16	17	RC	Chips	CG08452	0.94	na
OceanaGold	RCH4534	17	18	RC	Chips	CG08453	0.91	na
OceanaGold	RCH4534	18	19	RC	Chips	CG08454	0.23	na
OceanaGold	RCH4534	20	21	RC	Chips	CG08456	0.46	na
OceanaGold	RCH4534	21	22	RC	Chips	CG08457	0.21	na
OceanaGold	RCH4534	22	23	RC	Chips	CG08458	0.22	na
OceanaGold	RCH4534	23	24	RC	Chips	CG08459	0.35	na
OceanaGold	RCH4535	37	38	RC	Chips	CG08577	0.22	na
OceanaGold	RCH4535	38	39	RC	Chips	CG08578	8.39	na
OceanaGold	RCH4535	39	40	RC	Chips	CG08579	9.69	na
OceanaGold	RCH4535	40	41	RC	Chips	CG08580	3.17	na
OceanaGold	RCH4535	41	42	RC	Chips	CG08581	0.86	na
OceanaGold	RCH4535	42	43	RC	Chips	CG08582	0.36	na
OceanaGold	RCH4535	43	44	RC	Chips	CG08583	0.22	na
OceanaGold	RCH4535	44	45	RC	Chips	CG08584	0.1	na
OceanaGold	RCH4535	45	46	RC	Chips	CG08585	0.31	na
OceanaGold	RCH4535	46	47	RC	Chips	CG08586	0.05	na
OceanaGold	RCH4535	47	48	RC	Chips	CG08587	0.34	na
OceanaGold	RCH4535	49	50	RC	Chips	CG08589	0.22	na
OceanaGold	RCH4536	47	48	RC	Chips	CG08663	0.34	na
OceanaGold	RCH4540	52	53	RC	Chips	CG08932	0.73	na
OceanaGold	RCH4540	54	55	RC	Chips	CG08934	0.27	na
OceanaGold	RCH4540	55	56	RC	Chips	CG08935	0.78	na
OceanaGold	RCH4540	60	61	RC	Chips	CG08940	0.37	na
OceanaGold	RCH4540	61	62	RC	Chips	CG08941	0.83	na
OceanaGold	RCH4540	62	63	RC	Chips	CG08942	0.20	na
OceanaGold	RCH4541	56	57	RC	Chips	CG09004	0.22	na
OceanaGold	RCH4542	0	1	RC	Chips	CG09022	1.46	na
OceanaGold	RCH4542	1	2	RC	Chips	CG09023	4.62	na
OceanaGold	RCH4543	0	1	RC	Chips	CG09048	0.65	na
OceanaGold	RCH4543	3	4	RC	Chips	CG09051	0.32	na
OceanaGold	RCH4543	4	5	RC	Chips	CG09052	0.23	na
OceanaGold	RCH4543	5	6	RC	Chips	CG09053	0.27	na
OceanaGold	RCH4543	6	7	RC	Chips	CG09054	0.39	na
OceanaGold	RCH4543	7	8	RC	Chips	CG09055	0.51	na
OceanaGold	RCH4543	8	9	RC	Chips	CG09056	0.66	na
OceanaGold	RCH4543	9	10	RC	Chips	CG09057	0.76	na
OceanaGold	RCH4543	10	11	RC	Chips	CG09058	0.23	na
OceanaGold	RCH4543	14	15	RC	Chips	CG09062	0.20	na
OceanaGold	RCH4543	17	18	RC	Chips	CG09065	1.86	na
OceanaGold	RCH4544	2	3	RC	Chips	CG09082	2.81	na
OceanaGold	RCH4544	3	4	RC	Chips	CG09083	0.52	na
OceanaGold	RCH4544	4	5	RC	Chips	CG09084	0.21	na
OceanaGold	RCH4544	28	29	RC	Chips	CG09108	3.11	na
OceanaGold	RCH4544	29	30	RC	Chips	CG09109	0.87	na
OceanaGold	RCH4544	30	31	RC	Chips	CG09110	0.54	na
OceanaGold	RCH4544	31	32	RC	Chips	CG09111	0.45	na
OceanaGold	RCH4544	36	37	RC	Chips	CG09116	0.82	na
OceanaGold	RCH4544	38	39	RC	Chips	CG09118	0.26	na
OceanaGold	RCH4544	40	41	RC	Chips	CG09120	1.21	na
OceanaGold	RCH4545	1	2	RC	Chips	CG09137	0.47	na
OceanaGold	RCH4546	46	47	RC	Chips	CG09256	0.30	na

Cyclone Metals Limited ASX: CLE

Page: 40 of 54

ASX Announcement 17 March 2022

==> picture [143 x 48] intentionally omitted <==

Table 4 : Muirs Drill Collar Data

Company	Id	Type	NZTM Easting (m)	NZTM Northing (m)	RL (m)	Depth (m)	Dip	Azimuth
Glass Earth Ltd	MSDDH001	DDH	1887161	5808292	234	172.4	-45	302
Glass Earth Ltd	MSDDH002	DDH	1887120	5808220	250	149.3	-48	302
Glass Earth Ltd	MSDDH003	DDH	1887788	5809221	130	278.5	-50	107
Glass Earth Ltd	MSDDH004	DDH	1886146	5807184	163	247.8	-45	117
Glass Earth Ltd	MSDDH005	WD/DDH	1887576	5808842	144	401.45	-50	297
Glass Earth Ltd	MSDDH006	WD/DDH	1887317	5809111	140	386.5	-50	298
Glass Earth Ltd	MSDDH007	WD/DDH	1887363	5807778	122	358.65	-55	280
Glass Earth Ltd	MSDDH008	DDH	1887053	5808378	230	86.55	-47	285
Glass Earth Ltd	MSDDH009	DDH	1887213	5808364	205	191	-55	300
Glass Earth Ltd	MSDDH010	DDH	1887174	5808406	205	127.9	-45	300
Glass Earth Ltd	MSDDH011	DDH	1887090	5808436	190	189.5	-45	295
Glass Earth Ltd	MSDDH012	DDH	1887139	5808266	256	130.8	-50	0
Glass Earth Ltd	MSDDH013	DDH	1887066	5808131	226	61.7	-50	273
Glass Earth Ltd	MSDDH014	DDH	1887073	5808134	226	100.9	-48.8	295
Glass Earth Ltd	MSDDH015	DDH	1887017	5807994	191	90.3	-45	0
Glass Earth Ltd	MSDDH016	DDH	1887023	5807992	191	168	-90	0
Glass Earth Ltd	MSDDH017	DDH	1886915	5807936	160	150	-90	0
Glass Earth Ltd	MSRC01	RC	1888183	5808430	181	221.5	-60	297
Glass Earth Ltd	MSRC02	RC	1888018	5808639	146	241.5	-55	297
Welcome Gold Mines Ltd	ODH01	DDH	1888201	5810532	182.011	100	-45	270
Welcome Gold Mines Ltd	ODH02	DDH	1888281	5810531	190.005	178.5	-65	270
Welcome Gold Mines Ltd	ODH03	DDH	1888264	5810233	159.007	228	-55	270
Welcome Gold Mines Ltd	ODH04	DDH	1888355	5810831	119.006	153	-45	270
Otter Minerals Exploration Ltd	RC01	RC	1887761	5809015	138.005	55	-60	117
Otter Minerals Exploration Ltd	RC02	RC	1887679	5808845	156.011	62	-60	117
Otter Minerals Exploration Ltd	RC03	RC	1887844	5809202	136.018	95	-60	117
Otter Minerals Exploration Ltd	RC04	RC	1887648	5808619	177.013	100.2	-60	297
Otter Minerals Exploration Ltd	RC05	RC	1887596	5808760	169.018	80	-60	117
Otter Minerals Exploration Ltd	RC06	RC	1887711	5808923	142.01	83	-60	117
Otter Minerals Exploration Ltd	RC07	RC	1887786	5809086	137.011	101	-60	117
Otter Minerals Exploration Ltd	RC08	RC	1887863	5809243	130.011	100	-60	117
BP Oil NZ Ltd	RC09	RC	1887953	5809579	97.01	93.4	-60	117
BP Oil NZ Ltd	RC10	RC	1887975	5809581	97.01	103.2	-60	297
BP Oil NZ Ltd	RC11	RC	1887925	5809590	97.01	98	-60	297
Otter Minerals Exploration Ltd	RC12	RC	1887807	5809190	134.015	150	-60	117
Otter Minerals Exploration Ltd	RC14	RC	1887656	5808845	155.017	110	-60	117
Otter Minerals Exploration Ltd	RC15	RAB	1887757	5808796	155.017	81	-52	291
Otter Minerals Exploration Ltd	RC16	RAB	1887808	5808775	149.01	95	-45	293
Otter Minerals Exploration Ltd	RC17	RAB	1887817	5808987	142.01	79	-45	113
Otter Minerals Exploration Ltd	RC18	RAB	1887916	5808949	141.016	76.7	-45	291
Otter Minerals Exploration Ltd	RC19	RAB	1887756	5809009	138.005	28	-45	111
Otter Minerals Exploration Ltd	RC20	RAB	1887930	5809159	140.007	61.2	-45	111
Otter Minerals Exploration Ltd	RC21	RAB	1888049	5809107	140.007	109	-45	291
Otter Minerals Exploration Ltd	RC22	RAB	1887851	5809191	138.005	68	-45	111
Otter Minerals Exploration Ltd	RC23	RC	1887887	5809172	139.014	68	-45	112
Otter Minerals Exploration Ltd	RC24	RAB	1887827	5809093	140.007	89.4	-45	111
Otter Minerals Exploration Ltd	RC25	RAB	1887866	5809073	142.01	94	-45	111
Otter Minerals Exploration Ltd	RC26	RAB	1887757	5808905	146.014	110	-45	111
Otter Minerals Exploration Ltd	RC27	RAB	1887719	5808596	167.016	80	-45	291
Otter Minerals Exploration Ltd	RC28	RAB	1887757	5808688	158.013	45.5	-45	291
Otter Minerals Exploration Ltd	RC29	RAB	1887971	5809221	136.018	76	-45	291
Otter Minerals Exploration Ltd	RC30	RAB	1887867	5808969	143.018	82	-50	291
Otter Minerals Exploration Ltd	RC31	RAB	1887916	5808945	141.016	122	-65	291
Otter Minerals Exploration Ltd	RC32	RAB	1887999	5809024	140.007	95	-51	291
Otter Minerals Exploration Ltd	RC33	RAB	1887838	5808868	146.014	67.9	-51	291
Otter Minerals Exploration Ltd	RC34	RAB	1887834	5808977	143.018	66.5	-45	291
Auag Resources Ltd	RC35	RC	1887933	5809048	141.016	148	-50	297
Auag Resources Ltd	RC36	RC	1887861	5809176	140.007	115	-59	117
AuagResourcesLtd	RC37	RC	1887915	5808947	141.016	201	-50	297

Cyclone Metals Limited ASX: CLE

Page: 41 of 54

ASX Announcement 17 March 2022

==> picture [143 x 48] intentionally omitted <==

Company	Id	Type	NZTM Easting (m)	NZTM Northing (m)	RL (m)	Depth (m)	Dip	Azimuth
Auag Resources Ltd	RC38	RC	1887861	5808861	145.006	188	-50	292
Auag Resources Ltd	RC39	RC	1887999	5809237	134.015	137.5	-50	292
Auag Resources Ltd	RC40	RC	1888048	5809298	123.01	151	-50	292
Auag Resources Ltd	RC41	RC	1888031	5809224	134.015	205	-50	292
Otter Minerals Exploration Ltd	TP01	DDH	1887553	5808476	198.014	60.3	-55	295
Otter Minerals Exploration Ltd	TP02	DDH	1887520	5808340	194.01	104.9	-45	295
Otter Minerals Exploration Ltd	TP03	DDH	1887017	5808199	258.009	130	-55	115
Otter Minerals Exploration Ltd	TP04	DDH	1887054	5808303	255.013	121.3	-45	115
Otter Minerals Exploration Ltd	TP05	DDH	1887046	5808086	199.008	88	-45	295
Otter Minerals Exploration Ltd	TP06	DDH	1887354	5808332	220.01	155.4	-45	115
Otter Minerals Exploration Ltd	TP07	RDDH	1887345	5808504	184.013	400.1	-55	117
Otter Minerals Exploration Ltd	TP08	RDDH	1887761	5809020	138.005	70.4	-60	117
Welcome Gold Mines Ltd	A	Trench	1887105	5808314	249.01	24.00	0.00	100.00
Welcome Gold Mines Ltd	B	Trench	1887110	5808287	254.00	35.00	0.00	100.00
Welcome Gold Mines Ltd	C	Trench	1887098	5808264.8	256.01	21.00	0.00	100.00
Welcome Gold Mines Ltd	D	Trench	1887129	5808370.9	227.01	40.00	0.00	80.00
Welcome Gold Mines Ltd	E	Trench	1887132	5808367.5	231.02	38.00	0.00	80.00
Welcome Gold Mines Ltd	F	Trench	1887040	5808168.8	235.00	55.00	0.00	115.00
Welcome Gold Mines Ltd	G	Trench	1886910	5807974.9	182.01	40.00	0.00	185.00
Glass Earth Ltd	MSTR01	Trench	1886862	5807962	172	28	0	136
Glass Earth Ltd	MSTR02	Trench	1886872	5807977	177	22	0	181
Glass Earth Ltd	MSTR03	Trench	1886906	5807969	195	7	0	300
Glass Earth Ltd	MSTR04	Trench	1886904	5807976	198	18	0	280
Glass Earth Ltd	MSTR05	Trench	1887059	5808213	250	42	0	82
Glass Earth Ltd	MSTR06	Trench	1887110	5808308	248	24	-5	358
Glass Earth Ltd	MSTR07	Trench	1887115	5808278	248	14	-5	227
Glass Earth Ltd	MSTR08	Trench	1886828	5807849	151.207	18	0	54
Glass Earth Ltd	MSTR09	Trench	1886807	5807753	137.745	16	0	86
Glass Earth Ltd	MSTR10	Trench	1886837	5807725	127.623	46	-10	15
Glass Earth Ltd	MSTR11	Trench	1887112	5808257	251	14	-30	74
Glass Earth Ltd	MSTR12	Trench	1887112	5808240	251	18	-8	52
Glass Earth Ltd	MSTR13	Trench	1887158	5808383	230	80	-4	295
Glass Earth Ltd	MSTR14	Trench	1886797	5807817	133.37	4	-5	236
Glass Earth Ltd	MSTR15	Trench	1886790	5807860	129	85	10	28
Glass Earth Ltd	MSTR16	Trench	1887143	5808401	236	9	0	254
Glass Earth Ltd	MSTR17	Trench	1887133	5808414	236	3	0	238
Glass Earth Ltd	MSTR18	Trench	1887149	5808401	234	17	0	297
Glass Earth Ltd	MSTR19	Trench	1886918	5807989	223	12	0	88
Glass Earth Ltd	MSTR20	Trench	1886933	5808009	225	15	0	60
Glass Earth Ltd	MSTR21	Trench	1886988	5808101	259	12	0	0
Glass Earth Ltd	MSTR22	Trench	1886919	5808048	199	3	0	0
Glass Earth Ltd	MSTR23	Trench	1886949	5808081	217	5	0	0
Glass Earth Ltd	MSTR24	Trench	1886787	5807806	133.952	0	1	0

Table 5: Selected Muirs Assays (>0.5g/t Au)

Company	ID	From	To	Drill Type	Sample Type	Submission_No	Lab	SAMPLEID	Au ppm	Ag ppm
Glass Earth	MSDDH001	9	10	PQ	Core	ROT-001	A24456	GE102163	4.61	3.0
Glass Earth	MSDDH001	11	12	PQ	Core	ROT-001	A24456	GE102165	0.94	1.2
Glass Earth	MSDDH001	13	14	PQ	Core	ROT-001	A24456	GE102167	1.09	1.0
Glass Earth	MSDDH001	58	59	PQ	Core	ROT-002	A24457	GE102213	0.69	0.5
Glass Earth	MSDDH001	60	61	PQ	Core	ROT-002	A24457	GE102215	1.83	1.1
Glass Earth	MSDDH001	64	65	PQ	Core	ROT-002	A24457	GE102220	0.66	1.7
Glass Earth	MSDDH001	66	67	PQ	Core	ROT-002	A24457	GE102222	0.77	1.7
Glass Earth	MSDDH001	67	68	PQ	Core	ROT-002	A24457	GE102223	0.67	0.6
Glass Earth	MSDDH001	69	70	PQ	Core	ROT-002	A24457	GE102225	0.50	0.5
Glass Earth	MSDDH001	70	71	PQ	Core	ROT-002	A24457	GE102226	1.11	1.0
Glass Earth	MSDDH001	71	72	PQ	Core	ROT-002	A24457	GE102227	0.71	0.5
Glass Earth	MSDDH001	74	75	PQ	Core	ROT-002	A24457	GE102230	0.52	0.5
Glass Earth	MSDDH001	75	76	PQ	Core	ROT-002	A24457	GE102232	1.02	1.6
GlassEarth	MSDDH001	76	77	PQ	Core	ROT-002	A24457	GE102233	0.73	1.0

Cyclone Metals Limited ASX: CLE

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ASX Announcement 17 March 2022

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Company	ID	From	To	Drill Type	Sample Type	Submission_No	Lab	SAMPLEID	Au ppm	Ag ppm
Glass Earth	MSDDH001	77	78	PQ	Core	ROT-002	A24457	GE102234	0.64	1.3
Glass Earth	MSDDH001	78	79	PQ	Core	ROT-002	A24457	GE102235	1.36	1.8
Glass Earth	MSDDH001	79	80	PQ	Core	ROT-002	A24457	GE102236	2.13	2.7
Glass Earth	MSDDH001	80	81	PQ	Core	ROT-002	A24457	GE102237	0.71	25.3
Glass Earth	MSDDH001	81	82	PQ	Core	ROT-003	A24585	GE102238	0.72	17.0
Glass Earth	MSDDH001	82	83	PQ	Core	ROT-003	A24585	GE102239	2.28	6.4
Glass Earth	MSDDH001	83	84	PQ	Core	ROT-003	A24585	GE102240	2.25	8.0
Glass Earth	MSDDH001	84	85	PQ	Core	ROT-003	A24585	GE102241	0.79	12.4
Glass Earth	MSDDH001	85	86	PQ	Core	ROT-003	A24585	GE102242	1.49	8.3
Glass Earth	MSDDH001	86	87	PQ	Core	ROT-003	A24585	GE102243	1.74	12.4
Glass Earth	MSDDH001	87	88	PQ	Core	ROT-003	A24585	GE102244	1.46	7.1
Glass Earth	MSDDH001	88	89	PQ	Core	ROT-003	A24585	GE102245	1.03	4.9
Glass Earth	MSDDH001	89	90	PQ	Core	ROT-003	A24585	GE102246	0.88	2.9
Glass Earth	MSDDH001	90	91	PQ	Core	ROT-003	A24585	GE102247	0.51	1.0
Glass Earth	MSDDH001	91	92	PQ	Core	ROT-003	A24585	GE102248	0.76	1.8
Glass Earth	MSDDH001	92	93	PQ	Core	ROT-003	A24585	GE102249	1.02	3.6
Glass Earth	MSDDH001	93	94	PQ	Core	ROT-003	A24585	GE102250	1.78	2.0
Glass Earth	MSDDH001	94	95	PQ	Core	ROT-003	A24585	GE102251	0.89	1.2
Glass Earth	MSDDH001	95	96	PQ	Core	ROT-003	A24585	GE102252	1.69	1.4
Glass Earth	MSDDH001	96	97	PQ	Core	ROT-006	A24715	GE102253	1.07	0.8
Glass Earth	MSDDH001	97	98	PQ	Core	ROT-003	A24585	GE102254	0.69	1.0
Glass Earth	MSDDH001	98	99	PQ	Core	ROT-003	A24585	GE102255	1.59	1.0
Glass Earth	MSDDH001	100	101	PQ	Core	ROT-003	A24585	GE102257	1.02	1.9
Glass Earth	MSDDH001	101	102	PQ	Core	ROT-003	A24585	GE102258	0.57	1.8
Glass Earth	MSDDH001	102	103	PQ	Core	ROT-003	A24585	GE102259	0.88	2.5
Glass Earth	MSDDH001	103	104	PQ	Core	ROT-003	A24585	GE102260	0.72	2.5
Glass Earth	MSDDH001	117	118	PQ	Core	ROT-003	A24585	GE102275	1.40	2.2
Glass Earth	MSDDH001	118	119	PQ	Core	ROT-003	A24585	GE102276	2.18	2.9
Glass Earth	MSDDH001	119	120	PQ	Core	ROT-004A	A24625	GE102278	1.08	0.5
Glass Earth	MSDDH001	120	121	PQ	Core	ROT-004A	A24625	GE102279	1.24	0.5
Glass Earth	MSDDH001	121	122	PQ	Core	ROT-004A	A24625	GE102280	0.57	0.5
Glass Earth	MSDDH001	122	123	PQ	Core	ROT-004A	A24625	GE102281	1.03	0.5
Glass Earth	MSDDH001	126	127	PQ	Core	ROT-004A	A24625	GE102285	0.52	2.7
Glass Earth	MSDDH002	29	30	PQ	Core	SGSTVZ0125	WA001843	GE102335	1.21	1.1
Glass Earth	MSDDH002	30	31	PQ	Core	SGSTVZ0125	WA001843	GE102336	4.82	2.7
Glass Earth	MSDDH002	31	32	PQ	Core	SGSTVZ0125	WA001843	GE102337	3.38	1.9
Glass Earth	MSDDH002	54	55	PQ	Core	SGSTVZ0126	WA001875	GE102362	1.92	2.5
Glass Earth	MSDDH002	55	56	PQ	Core	SGSTVZ0126	WA001875	GE102363	1.68	1.5
Glass Earth	MSDDH002	60	61	PQ	Core	SGSTVZ0126	WA001875	GE102368	1.89	1.8
Glass Earth	MSDDH002	64	65	PQ	Core	SGSTVZ0127	WA001886	GE102372	1.43	1.4
Glass Earth	MSDDH002	65	66	PQ	Core	SGSTVZ0127	WA001886	GE102373	1.05	1.8
Glass Earth	MSDDH002	66	67	PQ	Core	SGSTVZ0127	WA001886	GE102374	0.69	2.1
Glass Earth	MSDDH002	67	68	PQ	Core	SGSTVZ0127	WA001886	GE102375	0.66	1.2
Glass Earth	MSDDH002	68	69	PQ	Core	SGSTVZ0127	WA001886	GE102376	0.66	1.1
Glass Earth	MSDDH002	82	83	PQ	Core	SGSTVZ0127	WA001886	GE102390	0.56	1.1
Glass Earth	MSDDH002	86	87	PQ	Core	SGSTVZ0127	WA001886	GE102395	0.66	0.4
Glass Earth	MSDDH002	90	91	PQ	Core	SGSTVZ0128	WA002023	GE102399	2.37	1.6
Glass Earth	MSDDH002	91	92	PQ	Core	SGSTVZ0128	WA002023	GE102400	0.58	0.6
Glass Earth	MSDDH002	95	96	PQ	Core	SGSTVZ0128	WA002023	GE102404	0.63	2.0
Glass Earth	MSDDH002	99	100	PQ	Core	SGSTVZ0128	WA002023	GE102408	0.54	2.5
Glass Earth	MSDDH002	100	101	PQ	Core	SGSTVZ0128	WA002023	GE102409	1.39	2.1
Glass Earth	MSDDH002	101	102	PQ	Core	SGSTVZ0128	WA002023	GE102410	1.20	1.4
Glass Earth	MSDDH002	106	107	PQ	Core	SGSTVZ0128	WA002023	GE102415	0.51	1.8
Glass Earth	MSDDH002	108	109	PQ	Core	SGSTVZ0128	WA002023	GE102417	0.55	3.7
Glass Earth	MSDDH002	111	112	PQ	Core	SGSTVZ0129	WA002047	GE102421	1.15	2.7
Glass Earth	MSDDH002	112	113	PQ	Core	SGSTVZ0129	WA002047	GE102422	2.14	9.7
Glass Earth	MSDDH002	113	114	PQ	Core	SGSTVZ0129	WA002047	GE102423	1.52	5.1
Glass Earth	MSDDH002	114	115	PQ	Core	SGSTVZ0129	WA002047	GE102424	0.76	11.2
Glass Earth	MSDDH002	115	116	PQ	Core	SGSTVZ0129	WA002047	GE102425	0.61	6.4
Glass Earth	MSDDH002	117	118	PQ	Core	SGSTVZ0130	WA002079	GE102427	0.87	4.6
Glass Earth	MSDDH002	118	119	PQ	Core	SGSTVZ0130	WA002079	GE102428	1.32	9.0

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ASX Announcement 17 March 2022

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Company	ID	From	To	Drill Type	Sample Type	Submission_No	Lab	SAMPLEID	Au ppm	Ag ppm
Glass Earth	MSDDH002	119	120	PQ	Core	SGSTVZ0130	WA002079	GE102429	1.50	12.7
Glass Earth	MSDDH002	120	121	PQ	Core	SGSTVZ0130	WA002079	GE102430	0.55	2.8
Glass Earth	MSDDH002	122	123	PQ	Core	SGSTVZ0130	WA002079	GE102433	1.79	1.8
Glass Earth	MSDDH002	123	124	PQ	Core	SGSTVZ0130	WA002079	GE102434	0.55	4.9
Glass Earth	MSDDH002	125	126	PQ	Core	SGSTVZ0130	WA002079	GE102436	1.61	2.4
Glass Earth	MSDDH002	126	127	PQ	Core	SGSTVZ0130	WA002079	GE102437	1.87	3.5
Glass Earth	MSDDH003	69	70	PQ	Core	SGSTVZ0131	WA002111	GE102466	0.59	0.3
Glass Earth	MSDDH003	124	125	PQ	Core	SGSTVZ0132	WA002134	GE102522	0.51	6.3
Glass Earth	MSDDH003	144	145	PQ	Core	SGSTVZ0133	WA002177	GE102543	0.55	0.7
Glass Earth	MSDDH003	151	152	PQ	Core	SGSTVZ0133	WA002177	GE102550	1.28	1.4
Glass Earth	MSDDH008	5	6	PQ	Core	TVZ051211	WA008131	GE104578	2.93	2.2
Glass Earth	MSDDH008	6	7	PQ	Core	TVZ051211	WA008131	GE104579	2.00	2.1
Glass Earth	MSDDH008	13	14	PQ	Core	TVZ051211	WA008131	GE104586	0.81	1.9
Glass Earth	MSDDH008	15	16	PQ	Core	TVZ051211	WA008131	GE104588	0.55	0.5
Glass Earth	MSDDH008	22	23	PQ	Core	TVZ051211	WA008131	GE104596	1.81	1.1
Glass Earth	MSDDH008	23	24	PQ	Core	TVZ051211	WA008131	GE104597	0.80	0.5
Glass Earth	MSDDH008	24	25	PQ	Core	TVZ051211	WA008131	GE104598	0.52	0.4
Glass Earth	MSDDH008	25	26	PQ	Core	TVZ051211	WA008131	GE104599	0.17	0.1
Glass Earth	MSDDH008	26	27	PQ	Core	TVZ051211	WA008131	GE104600	3.16	2.9
Glass Earth	MSDDH008	27	28	PQ	Core	TVZ051211	WA008131	GE104601	4.07	2.5
Glass Earth	MSDDH008	28	29	PQ	Core	TVZ051211	WA008131	GE104750	2.01	2.7
Glass Earth	MSDDH008	29	30	PQ	Core	TVZ241211	WA008311	GE104603	6.04	4.0
Glass Earth	MSDDH008	30	31	PQ	Core	TVZ241211	WA008311	GE104604	3.47	2.8
Glass Earth	MSDDH008	31	32	PQ	Core	TVZ241211	WA008311	GE104605	0.14	0.5
Glass Earth	MSDDH008	32	33	PQ	Core	TVZ241211	WA008311	GE104606	0.70	1.4
Glass Earth	MSDDH008	33	34	PQ	Core	TVZ241211	WA008311	GE104607	1.58	1.2
Glass Earth	MSDDH008	34	35.45	PQ	Core	TVZ241211	WA008311	GE104608	1.18	1.2
Glass Earth	MSDDH008	35	36	PQ	Core	TVZ241211	WA008311	GE104609	0.50	0.5
Glass Earth	MSDDH008	36	37	PQ	Core	TVZ241211	WA008311	GE104610	0.55	2.2
Glass Earth	MSDDH008	37	38	PQ	Core	TVZ241211	WA008311	GE104611	0.60	5.1
Glass Earth	MSDDH008	57	58	PQ	Core	TVZ241211	WA008311	GE104632	0.61	0.6
Glass Earth	MSDDH008	60	61	PQ	Core	TVZ241211	WA008311	GE104635	0.69	2.8
Glass Earth	MSDDH009	11	12	PQ	Core	SGSTVZ0147	WA008373	GE104660	0.64	0.6
Glass Earth	MSDDH009	12	13	PQ	Core	SGSTVZ0147	WA008373	GE104662	2.68	1.0
Glass Earth	MSDDH009	13	14	PQ	Core	SGSTVZ0147	WA008373	GE104663	2.32	1.5
Glass Earth	MSDDH009	16	17	PQ	Core	SGSTVZ0147	WA008373	GE104666	0.92	0.9
Glass Earth	MSDDH009	48	50	PQ	Core	SGSTVZ0147	WA008373	GE104695	38.40	49.2
Glass Earth	MSDDH009	50	51	PQ	Core	SGSTVZ0147	WA008373	GE104696	0.28	0.4
Glass Earth	MSDDH009	51	52	PQ	Core	SGSTVZ0147	WA008373	GE104697	0.20	0.6
Glass Earth	MSDDH009	52	53	PQ	Core	SGSTVZ0147	WA008373	GE104698	0.42	0.6
Glass Earth	MSDDH009	53	54	PQ	Core	SGSTVZ0147	WA008373	GE104699	0.73	0.6
Glass Earth	MSDDH009	54	55	PQ	Core	SGSTVZ0147	WA008373	GE104700	0.01	0.6
Glass Earth	MSDDH009	55	56	PQ	Core	SGSTVZ0147	WA008373	GE104701	0.76	0.6
Glass Earth	MSDDH009	56	57	PQ	Core	SGSTVZ0147	WA008373	GE104702	0.37	0.4
Glass Earth	MSDDH009	57	58	PQ	Core	SGSTVZ0147	WA008601	GE104703	0.52	1.0
Glass Earth	MSDDH009	58	59	PQ	Core	SGSTVZ0147	WA008601	GE104704	0.16	0.4
Glass Earth	MSDDH009	63	64	PQ	Core	SGSTVZ0147	WA008601	GE104709	0.55	0.7
Glass Earth	MSDDH009	93	94	PQ	Core	SGSTVZ0147	WA008601	GE104722	0.50	0.7
Glass Earth	MSDDH009	94	95	PQ	Core	SGSTVZ0147	WA008601	GE104723	0.78	0.8
Glass Earth	MSDDH009	95	96	PQ	Core	SGSTVZ0147	WA008601	GE104724	1.29	1.0
Glass Earth	MSDDH009	98	99	PQ	Core	SGSTVZ0147	WA008601	GE104727	2.05	1.2
Glass Earth	MSDDH009	102	103	PQ	Core	SGSTVZ0147	WA008601	GE104732	2.91	2.9
Glass Earth	MSDDH009	114	115	PQ	Core	SGSTVZ0147	WA008601	GE104744	0.65	0.7
Glass Earth	MSDDH009	115	116	PQ	Core	SGSTVZ0147	WA008601	GE104745	0.98	6.3
Glass Earth	MSDDH010	6	7	PQ	Core	SGSTVZ0152	WA008809	GE104801	1.11	0.6
Glass Earth	MSDDH010	9	10	PQ	Core	SGSTVZ0152	WA008809	GE104804	1.25	0.8
Glass Earth	MSDDH010	12	13	PQ	Core	SGSTVZ0152	WA008809	GE104807	0.57	0.4
Glass Earth	MSDDH010	13	14	PQ	Core	SGSTVZ0152	WA008809	GE104808	0.93	1.2
Glass Earth	MSDDH010	20	21	PQ	Core	SGSTVZ0152	WA008809	GE104815	0.52	0.4
Glass Earth	MSDDH010	23	24	PQ	Core	SGSTVZ0152	WA008809	GE104818	1.24	1.3
Glass Earth	MSDDH010	26	27	PQ	Core	SGSTVZ0152	WA008809	GE104821	0.60	0.9

Cyclone Metals Limited ASX: CLE

Page: 44 of 54

ASX Announcement 17 March 2022

==> picture [143 x 48] intentionally omitted <==

Company	ID	From	To	Drill Type	Sample Type	Submission_No	Lab	SAMPLEID	Au ppm	Ag ppm
Glass Earth	MSDDH010	29	30	PQ	Core	SGSTVZ0152	WA008809	GE104824	0.52	0.8
Glass Earth	MSDDH010	31	32	PQ	Core	SGSTVZ0152	WA008809	GE104826	0.56	0.6
Glass Earth	MSDDH010	33	34	PQ	Core	SGSTVZ0152	WA008809	GE104828	0.50	2.0
Glass Earth	MSDDH010	37	38	PQ	Core	SGSTVZ0152	WA008809	GE104833	0.58	0.4
Glass Earth	MSDDH010	38	39	PQ	Core	SGSTVZ0152	WA008809	GE104834	0.61	0.6
Glass Earth	MSDDH010	42	43	PQ	Core	SGSTVZ0152	WA008809	GE104838	0.58	1.0
Glass Earth	MSDDH010	43	44	PQ	Core	SGSTVZ0152	WA008809	GE104839	0.64	0.8
Glass Earth	MSDDH010	44	45	PQ	Core	SGSTVZ0152	WA008809	GE104840	0.73	1.2
Glass Earth	MSDDH010	45	46	PQ	Core	SGSTVZ0152	WA008809	GE104841	0.85	2.0
Glass Earth	MSDDH010	46	47	PQ	Core	SGSTVZ0152	WA008809	GE104842	1.54	1.5
Glass Earth	MSDDH010	47	48	PQ	Core	SGSTVZ0152	WA008809	GE104843	0.76	1.0
Glass Earth	MSDDH010	48	49	PQ	Core	SGSTVZ0152	WA008809	GE104844	0.62	0.8
Glass Earth	MSDDH010	50	51	PQ	Core	SGSTVZ0152	WA008809	GE104846	1.48	1.4
Glass Earth	MSDDH010	54	55	PQ	Core	SGSTVZ0152	WA008809	GE104850	0.81	1.0
Glass Earth	MSDDH010	58	59	PQ	Core	SGSTVZ0152	WA008809	GE104854	0.71	1.0
Glass Earth	MSDDH010	60	61	PQ	Core	SGSTVZ0153	WA008913	GE104856	0.65	1.0
Glass Earth	MSDDH010	71	72	PQ	Core	SGSTVZ0153	WA008913	GE104868	1.23	1.4
Glass Earth	MSDDH010	72	73	PQ	Core	SGSTVZ0153	WA008913	GE104869	0.53	0.8
Glass Earth	MSDDH010	73	74	PQ	Core	SGSTVZ0153	WA008913	GE104870	0.94	0.5
Glass Earth	MSDDH010	74	75	PQ	Core	SGSTVZ0153	WA008913	GE104871	0.56	0.7
Glass Earth	MSDDH010	75	76	PQ	Core	SGSTVZ0153	WA008913	GE104872	0.64	1.5
Glass Earth	MSDDH010	82	83	PQ	Core	SGSTVZ0153	WA008913	GE104879	0.69	0.5
Glass Earth	MSDDH010	86	87	PQ	Core	SGSTVZ0153	WA008913	GE104883	0.51	0.1
Glass Earth	MSDDH010	88	89	PQ	Core	SGSTVZ0153	WA008913	GE104884	0.98	1.2
Glass Earth	MSDDH010	89	90	PQ	Core	SGSTVZ0153	WA008913	GE104885	0.76	4.4
Glass Earth	MSDDH011	8	9	PQ	Core	SGSTVZ0154	WA009007	GE104895	0.82	0.3
Glass Earth	MSDDH011	9	10	PQ	Core	SGSTVZ0154	WA009007	GE104896	3.57	1.6
Glass Earth	MSDDH011	12	13	PQ	Core	SGSTVZ0154	WA009007	GE104899	0.86	0.1
Glass Earth	MSDDH011	14	15	PQ	Core	SGSTVZ0154	WA009007	GE104901	0.56	0.4
Glass Earth	MSDDH011	17	18	PQ	Core	SGSTVZ0154	WA009007	GE104904	1.21	0.7
Glass Earth	MSDDH011	18	19	PQ	Core	SGSTVZ0154	WA009007	GE104905	1.57	0.9
Glass Earth	MSDDH011	30	32	PQ	Core	SGSTVZ0154	WA009007	GE104915	1.11	0.7
Glass Earth	MSDDH011	56	58	PQ	Core	SGSTVZ0154	WA009007	GE104928	3.77	2.6
Glass Earth	MSDDH011	81	82	PQ	Core	SGSTVZ0154	WA009007	GE104942	0.61	0.7
Glass Earth	MSDDH011	85	87	PQ	Core	SGSTVZ0155	WA009162	GE104946	0.69	0.1
Glass Earth	MSDDH011	87	89	PQ	Core	SGSTVZ0155	WA009162	GE104947	1.59	0.1
Glass Earth	MSDDH012	8	9	PQ	Core	SGSTVZ0156	WA009267	GE104999	6.92	2.0
Glass Earth	MSDDH012	9	10	PQ	Core	SGSTVZ0156	WA009267	GE103000	0.55	0.5
Glass Earth	MSDDH012	10	11	PQ	Core	SGSTVZ0156	WA009267	GE103001	0.51	0.5
Glass Earth	MSDDH012	18	19	PQ	Core	SGSTVZ0156	WA009267	GE103009	1.01	0.5
Glass Earth	MSDDH012	28	29	PQ	Core	SGSTVZ0156	WA009267	GE103019	1.68	0.5
Glass Earth	MSDDH012	33	34	PQ	Core	SGSTVZ0156	WA009267	GE103024	1.90	0.5
Glass Earth	MSDDH012	34	35.5	PQ	Core	SGSTVZ0156	WA009267	GE103025	1.06	2.0
Glass Earth	MSDDH012	35.5	37	PQ	Core	SGSTVZ0156	WA009267	GE103026	0.94	0.5
Glass Earth	MSDDH012	44	45	PQ	Core	SGSTVZ0156	WA009267	GE103035	0.58	0.5
Glass Earth	MSDDH012	45	46	PQ	Core	SGSTVZ0156	WA009267	GE103036	0.76	0.5
Glass Earth	MSDDH012	48	49	PQ	Core	SGSTVZ0156	WA009267	GE103039	1.12	0.5
Glass Earth	MSDDH012	78	79	PQ	Core	SGSTVZ0156-2	WA009451	GE103070	0.77	0.5
Glass Earth	MSDDH012	79	80	PQ	Core	SGSTVZ0156-2	WA009451	GE103071	1.26	0.5
Glass Earth	MSDDH012	81	82	PQ	Core	SGSTVZ0156-2	WA009451	GE103073	0.52	7.0
Glass Earth	MSDDH012	83	84	PQ	Core	SGSTVZ0156-2	WA009451	GE103075	0.54	0.5
Glass Earth	MSDDH012	87	88	PQ	Core	SGSTVZ0156-2	WA009451	GE103078	0.55	0.5
Glass Earth	MSDDH012	95	96	PQ	Core	SGSTVZ0156-2	WA009451	GE103086	0.81	2.0
Glass Earth	MSDDH012	98	99	PQ	Core	SGSTVZ0156-2	WA009451	GE103089	0.89	2.0
Glass Earth	MSDDH012	100	101	PQ	Core	SGSTVZ0156-2	WA009451	GE103092	0.50	0.5
Glass Earth	MSDDH012	101	102	PQ	Core	SGSTVZ0156-2	WA009451	GE103093	2.89	1.0
Glass Earth	MSDDH012	102	103	PQ	Core	SGSTVZ0156-2	WA009451	GE103094	1.11	1.0
Glass Earth	MSDDH012	103	104	PQ	Core	SGSTVZ0156-2	WA009451	GE103095	0.92	0.5
Glass Earth	MSDDH012	104	105	PQ	Core	SGSTVZ0156-2	WA009451	GE103096	0.68	0.5
Glass Earth	MSDDH012	107	108	PQ	Core	SGSTVZ0156-2	WA009451	GE103099	0.61	3.0
Glass Earth	MSDDH012	110	111	PQ	Core	SGSTVZ0156-2	WA009451	GE103102	1.33	2.0

Cyclone Metals Limited ASX: CLE

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ASX Announcement 17 March 2022

==> picture [143 x 48] intentionally omitted <==

Company	ID	From	To	Drill Type	Sample Type	Submission_No	Lab	SAMPLEID	Au ppm	Au rpt	Ag ppm	As ppm
Glass Earth	MSDDH012	111	112	PQ	Core	SGSTVZ0156-2	WA009451	GE103103	0.83		1.0
Glass Earth	MSDDH012	112	113	PQ	Core	SGSTVZ0156-2	WA009451	GE103104	3.37		3.0
Glass Earth	MSDDH012	113	114	PQ	Core	SGSTVZ0156-2	WA009451	GE103105	2.00		2.0
Glass Earth	MSDDH012	114	115	PQ	Core	SGSTVZ0156-2	WA009451	GE103106	2.13		2.0
Glass Earth	MSDDH012	115	116	PQ	Core	SGSTVZ0156-2	WA009451	GE103107	4.45		2.0
Glass Earth	MSDDH012	116	116.3	PQ	Core	SGSTVZ0156-2	WA009451	GE103108	1.32		3.0
Glass Earth	MSDDH013	21	22	PQ	Core	SGSTVZ0158	WA009651	GE103126	5.31		5.0
Glass Earth	MSDDH013	22	23	PQ	Core	SGSTVZ0158	WA009651	GE103127	1.35		3.0
Glass Earth	MSDDH013	23.9	25	PQ	Core	SGSTVZ0158	WA009651	GE103128	1.20		2.0
Glass Earth	MSDDH013	28	29	PQ	Core	SGSTVZ0158	WA009651	GE103133	1.52		1.0
Glass Earth	MSDDH014	17	18	PQ	Core	SGSTVZ0159	WA009876	GE103167	2.41		1.0
Glass Earth	MSDDH014	18	19	PQ	Core	SGSTVZ0159	WA009876	GE103168	0.46		0.5
Glass Earth	MSDDH014	19	20	PQ	Core	SGSTVZ0159	WA009876	GE103169	7.16		5.0
Glass Earth	MSDDH014	20	21	PQ	Core	SGSTVZ0159	WA009876	GE103170	2.02		1.0
Glass Earth	MSDDH014	21	22	PQ	Core	SGSTVZ0159	WA009876	GE103171	1.41		1.0
Glass Earth	MSDDH014	22	23	PQ	Core	SGSTVZ0159	WA009876	GE103172	0.78		2.0
Glass Earth	MSDDH014	23	24	PQ	Core	SGSTVZ0159	WA009876	GE103173	1.37		1.0
Glass Earth	MSDDH014	24	25	PQ	Core	SGSTVZ0159	WA009876	GE103174	0.13		0.5
Glass Earth	MSDDH014	25	26	PQ	Core	SGSTVZ0159	WA009876	GE103175	0.19		2.0
Glass Earth	MSDDH014	26	27	PQ	Core	SGSTVZ0159	WA009876	GE103176	0.49		0.5
Glass Earth	MSDDH014	27	28	PQ	Core	SGSTVZ0159	WA009876	GE103177	0.1		0.5
Glass Earth	MSDDH014	28	29	PQ	Core	SGSTVZ0159	WA009876	GE103178	0.04		0.5
Glass Earth	MSDDH014	29	30.2	PQ	Core	SGSTVZ0159	WA009876	GE103179	0.94		3.0
Glass Earth	MSDDH014	38	39	PQ	Core	SGSTVZ0159	WA009876	GE103188	0.52		2.0
Glass Earth	MSDDH014	57	58	PQ	Core	SGSTVZ0159	WA009876	GE103208	0.62		1.0
Glass Earth	MSDDH014	62	63	PQ	Core	SGSTVZ0159	WA009876	GE103213	0.51		2.0
Glass Earth	MSDDH014	66	67	PQ	Core	SGSTVZ0159	WA009876	GE103217	1.80		3.0
Glass Earth	MSDDH014	67	68	PQ	Core	SGSTVZ0159	WA009876	GE103218	0.62		2.0
Glass Earth	MSDDH014	68	69	PQ	Core	SGSTVZ0159	WA009876	GE103219	3.62		16.0
Glass Earth	MSDDH014	69	70	PQ	Core	SGSTVZ0159	WA009876	GE103220	1.12		9.0
Glass Earth	MSDDH014	70	71	PQ	Core	SGSTVZ0159	WA009876	GE103221	1.17		9.0
Glass Earth	MSDDH014	71	72	PQ	Core	SGSTVZ0159	WA009876	GE103222	2.18		11.0
Glass Earth	MSDDH014	72	73	PQ	Core	SGSTVZ0159	WA009876	GE103223	2.62		8.0
Glass Earth	MSDDH015	62	63	PQ	Core	SGSTVZ0160	WA009984	GE103286	0.72		2.0
Glass Earth	MSDDH015	69	70	PQ	Core	SGSTVZ0160	WA009984	GE103294	0.60		15.0
Glass Earth	MSDDH015	70	71	PQ	Core	SGSTVZ0160	WA009984	GE103295	2.58		2.0
Glass Earth	MSDDH03	182	183	PQ	Core	SGSTVZ0134	WA002190	GE102582	0.68		3.74
Welcome GM	ODH1	54.86	55.4	PQ	Core				0.53
Welcome GM	ODH1	54.86	55.4	PQ	Core			24903	0.53		0.5	363
Welcome GM	ODH1	59.2	60	PQ	Core			24918	0.50		0.6	6
Welcome GM	ODH1	60	61	PQ	Core			24919	0.50		0.7	32
Welcome GM	ODH1	60.07	60.3	PQ	Core			24906	0.60		0.6	131
Welcome GM	ODH1	64	65	PQ	Core			24923	0.50		0.5	14
Welcome GM	ODH1	68.2	68.8	PQ	Core			24909	0.60		1.5	245
Welcome GM	ODH1	76.2	76.6	PQ	Core			24912	0.70		1.7	354
Welcome GM	ODH1	86.9	87.3	PQ	Core			24926	0.50		0.1	436
Welcome GM	ODH1	92.7	93.2	PQ	Core			24927	0.60		0.5	9
Welcome GM	ODH2	145.1	146.1	PQ	Core			24933	0.60		0.5	81
Welcome GM	ODH2	148.4	149.4	PQ	Core			24937	0.70		0.5	79
Welcome GM	ODH2	149.4	150.4	PQ	Core			24938	0.70		0.5	58
Welcome GM	ODH4	82	83	PQ	Core			24953	0.90		0.8	15
Welcome GM	ODH4	88	89	PQ	Core			24959	0.60		0.5	21
Welcome GM	ODH4	89	90	PQ	Core			24960	0.70		0.5	15
Welcome GM	ODH4	90	91	PQ	Core			24961	0.80		2.0	11
Otter Expln	R16	57	58	Perc	Chips			R16/58	0.82	0.82	0.2	60
Otter Expln	R16	58	59	Perc	Chips			R16/59	0.92	0.92	0.3	60
Otter Expln	R16	59	60	Perc	Chips			R16/60	0.58		0.2
Otter Expln	R16	60	61	Perc	Chips			R16/61	0.74	0.74	0.3	90
Otter Expln	R16	61	62	Perc	Chips			R16/62	0.61		0.2
Otter Expln	R16	63	64	Perc	Chips			R16/64	0.55	0.55	0.2	80
Otter Expln	R16	64	65	Perc	Chips			R16/65	0.54	0.52	0.2	100

Cyclone Metals Limited ASX: CLE

Page: 46 of 54

ASX Announcement 17 March 2022

==> picture [143 x 48] intentionally omitted <==

Company	ID	From	To	Drill Type	Sample Type	SAMPLEID	Au ppm	Au rpt	Ag ppm	As ppm
Otter Expln	R16	65	66	Perc	Chips	R16/66	0.56	0.56	0.2	120
Otter Expln	R17	62	63	Perc	Chips	R17/63	0.94		0.5
Otter Expln	R17	63	64	Perc	Chips	R17/64	1.37		0.4
Otter Expln	R17	64	65	Perc	Chips	R17/65	0.97		0.1
Otter Expln	R17	65	66	Perc	Chips	R17/66	0.71		0.1
Otter Expln	R17	66	67	Perc	Chips	R17/67	0.73		0.2
Otter Expln	R17	67	68	Perc	Chips	R17/68	0.97		0.3
Otter Expln	R17	68	69	Perc	Chips	R17/69	1.60		0.9
Otter Expln	R17	69	70	Perc	Chips	RI7/70	1.28		0.4
Otter Expln	R17	70	71	Perc	Chips	R17/71	0.98		0.5
Otter Expln	R17	71	72	Perc	Chips	R17/72	0.91		1.5
Otter Expln	R17	72	73	Perc	Chips	R17/73	0.69		0.4
Otter Expln	R17	73	74	Perc	Chips	R17/74	1.03		0.5
Otter Expln	R17	74	75	Perc	Chips	R17/75	0.75		0.4
Otter Expln	R17	75	76	Perc	Chips	R17/76	0.76		0.4
Otter Expln	R17	76	77	Perc	Chips	R17/77	0.82		0.3
Otter Expln	R17	77	78	Perc	Chips	R17/78	0.58		0.2
Otter Expln	R18	65	66	Perc	Chips	R18/66	1.07		0.1
Otter Expln	R18	66	67	Perc	Chips	R18/67	0.83		0.1
Otter Expln	R18	67	68	Perc	Chips	R18/68	3.09		1.0
Otter Expln	R18	68	69	Perc	Chips	R18/69	1.42		0.5
Otter Expln	R18	69	70	Perc	Chips	R18/70	1.30		0.5
Otter Expln	R18	70	71	Perc	Chips	R18/71	1.44		0.6
Otter Expln	R21	84	85	Perc	Chips	R21/85	0.68		0.4	230.00
Otter Expln	R22	54	55	Perc	Chips	R22/55-56	1.78	1.60	0.7
Otter Expln	R22	55	56	Perc	Chips	R22/56b	2.82	2.84	1.3
Otter Expln	R22	56	57	Perc	Chips	R22/57	2.56	2.46	1.2
Otter Expln	R22	57	58	Perc	Chips	R22/58	2.75	2.74	1.4
Otter Expln	R22	58	59	Perc	Chips	R22/59	2.63	2.67	1.1
Otter Expln	R22	59	60	Perc	Chips	R22/60	1.28	2.60	8.0
Otter Expln	R22	60	61	Perc	Chips	R22/61	2.74	2.98	1.4
Otter Expln	R22	61	62	Perc	Chips	R22/62	3.18	3.79	1.6
Otter Expln	R22	62	63	Perc	Chips	R22/63	3.61	3.91	1.7
Otter Expln	R22	63	64	Perc	Chips	R22/64	3.14	3.36	1.7
Otter Expln	R22	64	65	Perc	Chips	R22/65	2.95	3.03	1.4
Otter Expln	R22	65	66	Perc	Chips	R22/66	2.48	2.59	1.3
Otter Expln	R22	66	67	Perc	Chips	R22/67	2.06	2.17	1.3
Otter Expln	R22	67	68	Perc	Chips	R22/0	4.62	4.26	NA
Otter Expln	R23	54	55	Perc	Chips	R23/55	0.68	0.08	0.1
Otter Expln	R23	56	57	Perc	Chips	R23/57	0.54	0.49	0.3
Otter Expln	R23	57	58	Perc	Chips	R23/58	0.95	1.13	0.5
Otter Expln	R23	58	59	Perc	Chips	R23/59	1.09	1.09	1.1
Otter Expln	R23	59	60	Perc	Chips	R23/60	0.86	0.94	1.0
Otter Expln	R23	60	61	Perc	Chips	Pv23/61	1.66	1.68	1.2
Otter Expln	R23	63	68	Perc	Chips	R23/68	0.93	0.90	1.2
Otter Expln	R24	38	39	Perc	Chips	R24/39	0.94	1.01	0.8
Otter Expln	R24	39	40	Perc	Chips	R24/40	1.69	1.34	1.5
Otter Expln	R24	40	41	Perc	Chips	R24/41	1.36	1.34	1.2
Otter Expln	R24	43	44	Perc	Chips	R24/44	1.20	1.16	0.9
Otter Expln	R24	44	45	Perc	Chips	R24/45	2.76	2.80	2.3
Otter Expln	R24	45	46	Perc	Chips	R24/46	4.75	4.44	2.6
Otter Expln	R24	46	47	Perc	Chips	R24/47	2.90	2.90	1.8
Otter Expln	R24	47	48	Perc	Chips	R24/48	1.47	1.49	1.0
Otter Expln	R24	48	49	Perc	Chips	R24/49	0.84	0.84	0.7
Otter Expln	R24	49	50	Perc	Chips	R24/50	0.76	0.77	0.9
Otter Expln	R24	50	51	Perc	Chips	R24/51	1.59	NS	2.0
Otter Expln	R24	51	52	Perc	Chips	R24/52	1.42	1.45	1.7
Otter Expln	R24	52	53	Perc	Chips	R24/53	1.57	1.60	2.3
Otter Expln	R24	53	54	Perc	Chips	R24/54	1.60	1.96	2.7
Otter Expln	R24	54	55	Perc	Chips	R24/55	1.58	1.65	2.4
Otter Expln	R24	55	56	Perc	Chips	R24/56	1.22	1.25	2.2

Cyclone Metals Limited ASX: CLE

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ASX Announcement 17 March 2022

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Company	ID	From	To	Drill Type	Sample Type	SAMPLEID	Au ppm	Au rpt	Ag ppm
Otter Expln	R24	56	57	Perc	Chips	R24/57	0.85	0.90	1.3
Otter Expln	R24	57	58	Perc	Chips	R24/58	0.77	NS	1.4
Otter Expln	R24	58	59	Perc	Chips	R24/59	0.90	1.05	1.0
Otter Expln	R24	59	60	Perc	Chips	R24/60	1.61	1.61	2.5
Otter Expln	R24	60	61	Perc	Chips	R24/61	2.13	2.09	4.2
Otter Expln	R24	61	62	Perc	Chips	R24/62	1.77	1.58	2.7
Otter Expln	R24	62	63	Perc	Chips	R24/63	1.22	1.21	1.8
Otter Expln	R24	63	64	Perc	Chips	R24/64	1.31	1.43	2.1
Otter Expln	R24	64	65	Perc	Chips	R24/65	0.96	1.14	1.6
Otter Expln	R24	65	66	Perc	Chips	R24/66	1.07	1.14	1.8
Otter Expln	R24	66	67	Perc	Chips	R24/67	1.43	1.50	2.2
Otter Expln	R24	67	68	Perc	Chips	R24/68	1.39	1.61	3.0
Otter Expln	R24	68	69	Perc	Chips	R24/69	1.49	1.59	2.4
Otter Expln	R24	69	70	Perc	Chips	R24/70	1.03	1.10	2.1
Otter Expln	R24	70	71	Perc	Chips	R24/71	1.03	1.00	1.8
Otter Expln	R24	71	72	Perc	Chips	R24/72	0.79	0.92	1.7
Otter Expln	R24	72	73	Perc	Chips	R24/73	1.03	1.05	2.0
Otter Expln	R24	73	74	Perc	Chips	R24/74	0.95	0.97	1.9
Otter Expln	R24	74	75	Perc	Chips	R24/75	0.87	1.00	1.7
Otter Expln	R24	75	76	Perc	Chips	R24/76	0.86	NS	2.0
Otter Expln	R24	76	77	Perc	Chips	R24/77	0.91	0.98	1.9
Otter Expln	R24	77	78	Perc	Chips	R24/78	1.03	1.08	2.0
Otter Expln	R24	78	79	Perc	Chips	R24/79	0.86	1.08	2.2
Otter Expln	R24	79	80	Perc	Chips	R24/80	1.19	1.31	2.4
Otter Expln	R25	82	83	Perc	Chips	R25/83	0.05		0.1
Otter Expln	R26	89	90	Perc	Chips	R26/90	0.89		0.8
Otter Expln	R26	90	91	Perc	Chips	R26/91	0.99		0.5
Otter Expln	R26	91	92	Perc	Chips	R26/92	1.39		0.6
Otter Expln	R26	93	94	Perc	Chips	R26/94	0.58		0.4
Otter Expln	R26	95	96	Perc	Chips	R26/96	0.89		0.4
Otter Expln	R26	109	110	Perc	Chips	R26/110	0.69		0.1
Otter Expln	R27	31	32	Perc	Chips	R27/32	0.95		0.4
Otter Expln	R27	54	55	Perc	Chips	R27/55	0.57		0.1
Otter Expln	R29	55	56	Perc	Chips	R29/56	0.56		0.2
Otter Expln	R29	58	59	Perc	Chips	R29/59	0.55		0.4
Otter Expln	R29	59	60	Perc	Chips	R29/60	0.75		0.5
Otter Expln	R29	60	61	Perc	Chips	R29/61	1.11		0.7
Otter Expln	R29	61	62	Perc	Chips	R29/62	1.18		0.9
Otter Expln	R29	62	63	Perc	Chips	R29/63	1.34		0.7
Otter Expln	R29	63	64	Perc	Chips	R29/64	1.48		0.8
Otter Expln	R29	64	65	Perc	Chips	R29/65	1.46		0.6
Otter Expln	R29	65	66	Perc	Chips	R29/66	1.28		0.5
Otter Expln	R29	66	67	Perc	Chips	R29/67	0.59		0.4
Otter Expln	R29	67	68	Perc	Chips	R29/68	0.67		0.4
Otter Expln	R29	73	74	Perc	Chips	R29/74	0.52		IS
Otter Expln	R29	75	76	Perc	Chips	R29/76	0.88		IS
Otter Expln	R30	48	49	Perc	Chips	R30/49	4.17	3.94	2.2
Otter Expln	R30	49	50	Perc	Chips	R30/50	4.87	5.32	3.1
Otter Expln	R30	50	51	Perc	Chips	R30/51	2.33	1.98	1.0
Otter Expln	R30	51	52	Perc	Chips	R30/52	1.30	1.56	0.7
Otter Expln	R30	52	53	Perc	Chips	R30/53	1.28	1.01	0.4
Otter Expln	R30	53	54	Perc	Chips	R30/54	2.44	2.40	1.3
Otter Expln	R30	54	55	Perc	Chips	R30/55	2.96	3.02	1.1
Otter Expln	R30	55	56	Perc	Chips	R30/56	2.40	2.70	1.1
Otter Expln	R30	56	57	Perc	Chips	R30/57	1.16	1.38	0.4
Otter Expln	R30	57	58	Perc	Chips	R30/58	0.88	1.17	0.5
Otter Expln	R30	58	59	Perc	Chips	R30/59	1.09	1.10	0.5
Otter Expln	R30	59	60	Perc	Chips	R30/60	1.13	1.11	0.4
Otter Expln	R30	60	61	Perc	Chips	R30/61	1.27	1.17	0.8
Otter Expln	R30	61	62	Perc	Chips	R30/62	1.10	1.64	1.1
Otter Expln	R30	62	63	Perc	Chips	R30/63	1.08	1.23	0.8

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Company	ID	From	To	Drill Type	Sample Type	SAMPLEID	Au ppm	Au rpt	Ag ppm	As ppm
Otter Expln	R30	63	64	Perc	Chips	R30/64	2.13	2.60	2.2
Otter Expln	R30	64	65	Perc	Chips	R30/65	1.84	2.46	3.1
Otter Expln	R30	65	66	Perc	Chips	R30/66	1.22	1.17	2.6
Otter Expln	R30	66	67	Perc	Chips	R30/67	1.15	1.19	1.9
Otter Expln	R30	67	68	Perc	Chips	R30/68	0.59	0.75	0.1
Otter Expln	R30	68	69	Perc	Chips	R30/69	1.60	1.52	0.9
Otter Expln	R30	69	70	Perc	Chips	R30/70	0.94	0.85	0.7
Otter Expln	R30	70	71	Perc		R30/71	0.24	0.24	0.5
Otter Expln	R30	71	72	Perc	Chips	R30/72	0.62	0.68	1.1
Otter Expln	R30	72	73	Perc	Chips	R30/73	1.15	0.53	1.2
Otter Expln	R30	73	74	Perc	Chips	R30/74	0.91	0.61	1.0
Otter Expln	R30	74	75	Perc	Chips	R30/75	0.83	0.38	1.0
Otter Expln	R30	75	76	Perc	Chips	R30/76	1.21	0.45	0.8
Otter Expln	R31	64	65	Perc	Chips	R31/65	0.60	0.60	0.1	360
Otter Expln	R31	67	68	Perc	Chips	R31/68	0.58		0.1
Otter Expln	R31	68	69	Perc	Chips	R31/69	0.98		0.1
Otter Expln	R31	69	70	Perc	Chips	R31/70	0.59	0.60	0.1	40
Otter Expln	R31	70	71	Perc	Chips	R31/71	0.55		0.1
Otter Expln	R31	72	73	Perc	Chips	R31/73	0.64		0.1
Otter Expln	R31	81	82	Perc	Chips	R31/82	0.69	0.69	0.7	300
Otter Expln	R31	82	83	Perc	Chips	R31/83	0.56	0.56	0.9	260
Otter Expln	R31	83	84	Perc	Chips	R31/84	0.77	0.77	1.2	270
Otter Expln	R31	84	85	Perc	Chips	R31/85	0.75		1.2
Otter Expln	R31	101	102	Perc	Chips	R31/102	1.10		0.8
Otter Expln	R31	103	104	Perc	Chips	R31/104	1.15	1.15	0.9	270
Otter Expln	R31	104	105	Perc	Chips	R31/105	0.71		0.8
Otter Expln	R31	105	106	Perc	Chips	R31/106	0.77		0.8
Otter Expln	R33	53	54	Perc	Chips	R33/54	0.51		0.5
Otter Expln	R33	61	62	Perc	Chips	R33/62	0.58		0.1
Otter Expln	R33	62	63	Perc	Chips	R33/63	0.67		0.3
Otter Expln	R33	63	64	Perc	Chips	R33/64	0.56		0.5
Otter Expln	R33	64	65	Perc	Chips	R33/65	1.76		0.8
Otter Expln	R34	4	47	Perc	Chips	R34/47	0.93	0.86	0.6
Otter Expln	R34	31	32	Perc	Chips	R34/32	1.59	1.59	0.9	160
Otter Expln	R34	32	33	Perc	Chips	R34/33	0.88	0.91	0.6
Otter Expln	R34	36	37	Perc	Chips	R34/37	0.59	0.65	0.4
Otter Expln	R34	37	38	Perc	Chips	R34/38	0.76	0.73	0.4
Otter Expln	R34	42	43	Perc	Chips	R34/43	0.61	0.86	0.5	150
Otter Expln	R34	43	44	Perc	Chips	R34/44	2.00	2.51	1.3	150
Otter Expln	R34	44	45	Perc	Chips	R34/45	1.02	1.15	0.9	140
Otter Expln	R34	50	51	Perc	Chips	R34/51	0.50	0.56	0.3
Otter Expln	R34	51	52	Perc	Chips	R34/52	0.74	0.80	0.3	110
Otter Expln	R34	52	53	Perc	Chips	R34/53	0.51	0.64	0.2	100
Otter Expln	R34	53	54	Perc	Chips	R34/54	1.52	1.76	2.0	190
Otter Expln	R34	54	55	Perc	Chips	R34/55	3.05	3.34	3.7	290
Otter Expln	R34	55	56	Perc	Chips	R34/56	1.60	1.61	2.6	230
Otter Expln	R34	56	57	Perc	Chips	R34/57	0.93	1.14	1.9	150
Otter Expln	R34	57	58	Perc	Chips	R34/58	0.60	0.64	1.7
Otter Expln	R34	59	60	Perc	Chips	R34/60	1.06	1.03	1.1
Otter Expln	R34	60	61	Perc	Chips	R34/61	0.61	0.56	0.6
Otter Expln	R34	64	65	Perc	Chips	R34/65	0.74	0.68	2.1	110
Otter Expln	R34	65	66	Perc	Chips	R34/66	2.48		4.6
Otter Expln	RC1	49	50	RC	Chips		1.03
Otter Expln	RC12	60	61	RC	Chips		1.54		1.0
Otter Expln	RC12	63	64	RC	Chips		0.71		0.8
Otter Expln	RC12	65	66	RC	Chips		0.76		0.8
Otter Expln	RC12	67	68	RC	Chips		3.00		1.7
Otter Expln	RC12	68	69	RC	Chips		1.03		0.8
Otter Expln	RC12	69	70	RC	Chips		0.81		0.9
Otter Expln	RC12	70	71	RC	Chips		0.59		0.7
Otter Expln	RC12	72	73	RC	Chips		1.79		2.3

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Company	ID	From	To	Drill Type	Sample Type	SAMPLEID	Au ppm	Ag ppm	As ppm
Otter Expln	RC12	73	74	RC	Chips		1.34	1.0
Otter Expln	RC12	74	75	RC	Chips		0.62	0.5
Otter Expln	RC12	82	83	RC	Chips		0.55	0.8
Otter Expln	RC2	16	17	RC	Chips		0.56	1.3
Otter Expln	RC2	29	30	RC	Chips		15.90	5.9
Otter Expln	RC2	30	31	RC	Chips		1.84	1.4
Otter Expln	RC2	31	34	RC	Chips		1.63	1.5
Otter Expln	RC2	34	35	RC	Chips		0.54	0.9
Otter Expln	RC2	35	36	RC	Chips		0.75	3.4
Otter Expln	RC2	36	37	RC	Chips		0.69	2.6
Otter Expln	RC2	37	38	RC	Chips		0.55	2.1
Otter Expln	RC3	58	60	RC	Chips		0.69	0.6
Otter Expln	RC3	71	72	RC	Chips		0.61	1.3
Otter Expln	RC3	72	73	RC	Chips		1.49	2.3
Otter Expln	RC3	73	74	RC	Chips		9.80	5.3
Otter Expln	RC3	74	75	RC	Chips		1.60	1.8
Otter Expln	RC3	75	76	RC	Chips		0.68	1.5
Otter Expln	RC3	76	77	RC	Chips		0.52	1.2
Otter Expln	RC4	15	16	RC	Chips		2.41	1.4
Otter Expln	RC4	16	17	RC	Chips		1.44	1.1
Otter Expln	RC4	17	18	RC	Chips		0.77	0.8
Otter Expln	RC4	18	19	RC	Chips		1.08	0.7
Otter Expln	RC4	19	20	RC	Chips		2.13	1.9
Otter Expln	RC4	20	21	RC	Chips		0.54
Otter Expln	RC4	21	22	RC	Chips		1.17	0.6
Otter Expln	RC4	22	23	RC	Chips		0.73	0.5
Otter Expln	RC4	23	24	RC	Chips		1.21	0.6
Otter Expln	RC4	24	25	RC	Chips		0.60	0.5
Otter Expln	RC4	26	27	RC	Chips		4.28	1.9
Otter Expln	RC4	27	28	RC	Chips		1.48	1.0
Otter Expln	RC4	28	29	RC	Chips		1.25	1.9
Otter Expln	RC4	29	30	RC	Chips		1.27	1.9
Otter Expln	RC4	34	35	RC	Chips		1.75	1.0
Otter Expln	RC4	35	36	RC	Chips		1.59	1.9
Otter Expln	RC4	43	44	RC	Chips	12905	0.60	0.5	17
Otter Expln	RC4	44	45	RC	Chips	12906	0.70	0.5	111
Otter Expln	RC4	49	50	RC	Chips	12907	0.80	0.5	117
Otter Expln	RC4	52	53	RC	Chips	12908	0.90	0.5	69
Otter Expln	RC4	65	66	RC	Chips	12909	0.70	0.5	136
Otter Expln	RC4	85	86	RC	Chips	12912	0.50	0.5	143
Otter Expln	RC4	89.5	90.5	RC	Chips	12913	0.70	1.7	177
Otter Expln	RC4	94	95	RC	Chips	12916	0.70	1.2	118
Otter Expln	RC4	98	99	RC	Chips	12917	0.50	1.2	181
Otter Expln	RC5	14	15	RC	Chips	23478	0.50	0.5	0.5
Otter Expln	RC5	19	20	RC	Chips	23483	0.50	0.5	0.5
Otter Expln	RC5	20	57	RC	Chips		0.76	1.0
Otter Expln	RC5	57	31	RC	Chips		1.23
Otter Expln	RC5	31	59	RC	Chips		0.68	0.6
Otter Expln	RC5	59	51	RC	Chips		1.87	1.1
Otter Expln	RC6	17	18	RC	Chips		0.61	0.1
Otter Expln	RC6	28	29	RC	Chips		1.56	1.7
Otter Expln	RC6	53	54	RC	Chips		1.09
Otter Expln	RC7	54	73	RC	Chips		0.73	0.6
Otter Expln	RC7	73	38	RC	Chips		1.71	1.5
Otter Expln	RC7	38	45	RC	Chips		1.24	0.9
Otter Expln	RC7	45	83	RC	Chips		2.84	4.1
Otter Expln	RC7	83	72	RC	Chips		1.80	2.0
Otter Expln	RC7	72	80	RC	Chips		0.64	2.0
Otter Expln	RC7	80	44	RC	Chips		0.53
Otter Expln	RC7	44	71	RC	Chips		0.58
Otter Expln	RC7	71	69	RC	Chips		0.88	1.6

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Company	ID	From	To	Drill Type	Sample Type	SAMPLEID	Au ppm	Ag ppm	As ppm
Otter Expln	RC7	69	96	RC	Chips		0.52	1.4
Otter Expln	RC7	96	46	RC	Chips		0.75	0.6
Otter Expln	RC8	55	56	RC	Chips		0.98	1.2
BP Oil NZ	RC10	17	18	RC	Chips	23882	0.50	0.5	0.5
BP Oil NZ	RC10	32	33	RC	Chips	23897	0.50	0.5	45
BP Oil NZ	RC10	43	44	RC	Chips	24020	0.50	0.5	112
BP Oil NZ	RC10	44	45	RC	Chips	24121	0.50	0.5	118
BP Oil NZ	RC10	80	81	RC	Chips	12722	0.50	0.5	61
BP Oil NZ	RC10	86	87	RC	Chips	13770	0.50	0.5	49
BP Oil NZ	RC10	90	91	RC	Chips	13774	0.50	0.5	71
BP Oil NZ	RC9	20	21	RC	Chips	23027	0.50	0.5	0.5
BP Oil NZ	RC9	21	22	RC	Chips	23028	0.50	0.5	12
BP Oil NZ	RC9	22	23	RC	Chips	23029	0.50	0.5	0.5
BP Oil NZ	RC9	24	25	RC	Chips	23031	0.50	0.5	33
BP Oil NZ	RC9	27	28	RC	Chips	23034	0.50	0.5	36
BP Oil NZ	RC9	28	29	RC	Chips	23035	0.50	0.5	5
BP Oil NZ	RC9	29	30	RC	Chips	23036	0.50	0.5	3
BP Oil NZ	RC9	41	42	RC	Chips	23048	0.50	0.5	45
BP Oil NZ	RC9	48	49	RC	Chips	23055	0.50	0.5	36
BP Oil NZ	RC9	60	61	RC	Chips	23066	0.50	0.5	37
BP Oil NZ	RC9	63	64	RC	Chips	23069	0.50	0.5	22
BP Oil NZ	RC9	74	75	RC	Chips	23853	0.50	0.5	188
BP Oil NZ	RC9	76	77	RC	Chips	23855	0.50	0.5	151
Otter Expln	TP01	24.1	30.1	DDH	Whole core		Stope
Otter Expln	TP01	26.1	26.3	DDH	Whole core	19192	23.00	14.0
Otter Expln	TP01	30.9	31.7	DDH	Whole core	19108	0.70		4
Otter Expln	TP01	41.7	42.6	DDH	Whole core	19109	1.75		2
Otter Expln	TP01	42.6	44.5	DDH	Whole core	19121	0.60		4
Otter Expln	TP01	50.9	51.4	DDH	Whole core	19113	0.60		6
Otter Expln	TP01	51.4	52.9	DDH	Whole core	19122	0.80		6
Otter Expln	TP01	52.9	53.4	DDH	Whole core	19114	1.50		6
Otter Expln	TP01	53.4	55	DDH	Whole core	19123	0.90		8
Otter Expln	TP01	55	56	DDH	Whole core	19115	0.60		16
Otter Expln	TP02	42.6	43.9	DDH	Whole core	19130	0.90	0.5	2
Otter Expln	TP02	50.6	51.6	DDH	Whole core	19132	0.80		12
Otter Expln	TP02	56	57.4	DDH	Whole core	19133	0.90	0.5	16
Otter Expln	TP02	58.7	60.6	DDH	Whole core	19135	0.50		8
Otter Expln	TP02	69.45	70.35	DDH	Whole core		3.15	3.0
Otter Expln	TP02	72.1	73.9	DDH	Whole core	19142	0.80		12
Otter Expln	TP02	76.5	79.1	DDH	Whole core	19151	0.60		4
Otter Expln	TP02	81.9	84	DDH	Whole core	19143	0.90		4
Otter Expln	TP02	84	86	DDH	Whole core	19144	0.80		2
Otter Expln	TP02	86	88.2	DDH	Whole core	19145	0.80		6
Otter Expln	TP02	91.1	92.4	DDH	Whole core		0.62	1.5
Otter Expln	TP02	92.4	94.4	DDH	Whole core		0.77	1.0
Otter Expln	TP02	96.9	99.4	DDH	Whole core	19148	0.70		6
Otter Expln	TP03	58.5	60.1	DDH	Whole core		4.82	3.5	120
Otter Expln	TP03	71.5	73.4	DDH	Whole core		0.63	1.0
Otter Expln	TP03	73.4	74.35	DDH	Whole core		2.45	3.5	60
Otter Expln	TP03	76.1	78.1	DDH	Whole core		0.69	1.5
Otter Expln	TP03	81.7	83.3	DDH	Whole core		0.53	2.0
Otter Expln	TP03	88.8	90.2	DDH	Whole core		0.95	26.0	320
Otter Expln	TP03	90.2	91.9	DDH	Whole core		1.20	13.0	450
Otter Expln	TP03	93.9	97	DDH	Whole core		0.73	2.0	100
Otter Expln	TP03	97	99	DDH	Whole core		0.70	1.0
Otter Expln	TP04	50	51	DDH	Whole core		0.75	0.5
Otter Expln	TP04	56	58	DDH	Whole core		0.53	1.5
Otter Expln	TP04	64	65.2	DDH	Whole core		8.40	3.0	100
Otter Expln	TP04	65.2	66.3	DDH	Whole core		2.25	1.5	40
Otter Expln	TP04	81.9	83.1	DDH	Whole core		0.61	3.5	130
Otter Expln	TP04	86.5	88	DDH	Whole core		1.95	2.5	10

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Company	ID	From	To	Drill Type	Sample Type	SAMPLEID	Au ppm	Ag ppm	As ppm
Otter Expln	TP04	88	90.2	DDH	Whole core		0.82	2.0
Otter Expln	TP04	106	108	DDH	Whole core		2.40	7.0	100
Otter Expln	TP04	108	110	DDH	Whole core		0.97	5.0	160
Otter Expln	TP05	55.1	55.95	DDH	Whole core		1.05	1.5	20
Otter Expln	TP05	55.95	56.9	DDH	Whole core		1.65	1.5	120
Otter Expln	TP05	57	58.3	DDH	Whole core		1.10	1.8	160
Otter Expln	TP06	23.5	24.1	DDH	Whole core		0.62	0.5
Otter Expln	TP06	27.9	28.6	DDH	Whole core		0.57	0.5	80
Otter Expln	TP06	92.1	92.9	DDH	Whole core		17.00	12.0
Otter Expln	TP06	125.9	126.35	DDH	Whole core		0.54	1.0
Otter Expln	TP06	132.1	132.7	DDH	Whole core		1.10	1.0
Otter Expln	TP07	121	122	RDDH	Core	12801	0.50	0.5	0.5
Otter Expln	TP07	124	125	RDDH	Core	12802	0.50	0.5	25
Otter Expln	TP07	138.7	139.5	RDDH	Core	12803	0.50	0.5	0.5
Otter Expln	TP07	159.12	159.62	RDDH	Core	12805	0.50	0.5	13
Otter Expln	TP07	172	173	RDDH	Core	12806	0.50	0.5	0.5
Otter Expln	TP07	223	224	RDDH	Core	12809	0.50	0.5	0.5
Otter Expln	TP07	225	226	RDDH	Core	12810	0.50	0.5	0.5
Otter Expln	TP07	247	248	RDDH	Core	12811	0.50	0.5	0.5
Otter Expln	TP07	273	274	RDDH	Core	12814	0.50	0.5	0.5
Otter Expln	TP07	281	282	RDDH	Core	12815	0.50	0.5	0.5
Otter Expln	TP07	284.5	285.5	RDDH	Core	12816	0.50	0.5	0.5
Otter Expln	TP07	289.5	290.5	RDDH	Core	12817	0.50	0.5	0.5
Otter Expln	TP07	297	298	RDDH	Core	12820	0.50	0.5	0.5
Otter Expln	TP07	307	308	RDDH	Core	12822	0.50	0.5	0.5
Otter Expln	TP07	353	354	RDDH	Core	12880	0.50	0.5	67
Otter Expln	TP07	356	357	RDDH	Core	12881	0.50	0.5	1
Otter Expln	TP07	359.5	360.5	RDDH	Core	12882	0.50	0.5	13
Otter Expln	TP07	361	362	RDDH	Core	12783	0.50	0.5	16
Otter Expln	TP07	363.3	363.8	RDDH	Core	12884	0.50	0.5	58
Otter Expln	TP07	365	366	RDDH	Core	12785	0.50	0.5	24
Otter Expln	TP07	372	373	RDDH	Core	12786	0.50	0.5	0.5
Otter Expln	TP07	374	375	RDDH	Core	12787	0.50	0.5	0.5
Otter Expln	TP07	378	379	RDDH	Core	12789	0.50	0.5	0.5
Otter Expln	TP07	384	385	RDDH	Core	12790	0.50	0.5	17
Otter Expln	TP07	388	389	RDDH	Core	12791	0.50	0.5	0.5
Otter Expln	TP08	47.3	47.5	RDDH	Chips		2.68	5.2
Auag Resources	RC35	65	66	RC	Chips		1.78	1.3
Auag Resources	RC35	66	67	RC	Chips		1.66	1.4
Auag Resources	RC35	100	101	RC	Chips		0.65	1.5
Auag Resources	RC35	112	113	RC	Chips		0.53	0.6
Auag Resources	RC35	118	110	RC	Chips		0.70	1.1
Auag Resources	RC35	127	128	RC	Chips		0.53	<0.05
Auag Resources	RC36	47	48	RC	Chips		1.06	0.6
Auag Resources	RC36	48	49	RC	Chips		0.75	<0.05
Auag Resources	RC36	49	50	RC	Chips		0.67	<0.05
Auag Resources	RC36	50	51	RC	Chips		1.40	0.7
Auag Resources	RC36	51	52	RC	Chips		1.00	0.8
Auag Resources	RC36	52	53	RC	Chips		1.06	0.8
Auag Resources	RC36	55	56	RC	Chips		1.24	0.8
Auag Resources	RC36	57	58	RC	Chips		3.61	<0.05
Auag Resources	RC36	58	59	RC	Chips		0.85	0.7
Auag Resources	RC36	59	60	RC	Chips		2.55	1.7
Auag Resources	RC36	60	61	RC	Chips		3.65	2.8
Auag Resources	RC36	61	62	RC	Chips		2.48	2.0
Auag Resources	RC36	62	63	RC	Chips		1.14	1.9
Auag Resources	RC36	63	64	RC	Chips		2.56	2.6
Auag Resources	RC36	64	65	RC	Chips		0.59	1.1
Auag Resources	RC36	66	87	RC	Chips		0.56	0.7
Auag Resources	RC36	72	73	RC	Chips		0.56	1.6
Auag Resources	RC36	74	75	RC	Chips		0.62	1.4

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Company	ID	From	To	Drill Type	Sample Type	Au ppm	Ag ppm
Auag Resources	RC36	85	86	RC	Chips	1.50	0.6
Auag Resources	RC36	87	88	RC	Chips	1.12	0.7
Auag Resources	RC36	88	89	RC	Chips	0.57	1.2
Auag Resources	RC36	91	92	RC	Chips	0.51	1.0
Auag Resources	RC36	93	94	RC	Chips	0.58	1.1
Auag Resources	RC36	95	96	RC	Chips	0.56	0.6
Auag Resources	RC37	60	61	RC	Chips	0.73	0.5
Auag Resources	RC37	61	62	RC	Chips	0.63	<0.05
Auag Resources	RC37	62	63	RC	Chips	0.65	<0.05
Auag Resources	RC37	65	66	RC	Chips	0.59	<0.05
Auag Resources	RC37	66	67	RC	Chips	0.61	<0.05
Auag Resources	RC37	71	72	RC	Chips	1.31	<0.05
Auag Resources	RC37	72	73	RC	Chips	0.60	<0.05
Auag Resources	RC37	73	74	RC	Chips	1.03	<0.05
Auag Resources	RC37	77	78	RC	Chips	1.27	1.2
Auag Resources	RC37	84	85	RC	Chips	0.67	1.2
Auag Resources	RC37	103	104	RC	Chips	1.38	0.7
Auag Resources	RC37	104	105	RC	Chips	0.51	0.9
Auag Resources	RC37	138	130	RC	Chips	0.55	<0.05
Auag Resources	RC37	141	142	RC	Chips	0.58	<0.05
Auag Resources	RC37	145	146	RC	Chips	0.57	<0.05
Auag Resources	RC37	149	150	RC	Chips	0.52	0.5
Auag Resources	RC37	158	159	RC	Chips	0.61	0.5
Auag Resources	RC37	159	160	RC	Chips	0.59	0.7
Auag Resources	RC37	168	170	RC	Chips	0.62	0.7
Auag Resources	RC37	170	171	RC	Chips	0.77	0.6
Auag Resources	RC37	178	179	RC	Chips	0.52	1.9
Auag Resources	RC37	180	181	RC	Chips	0.50	<0.05
Auag Resources	RC37	183	184	RC	Chips	0.52	0.5
Auag Resources	RC37	189	190	RC	Chips	0.63	0.6
Auag Resources	RC37	190	191	RC	Chips	0.52	0.6
Auag Resources	RC37	193	194	RC	Chips	0.59	0.5
Auag Resources	RC37	198	199	RC	Chips	0.75	0.6
Auag Resources	RC38	63	64	RC	Chips	0.76	<0.05
Auag Resources	RC38	73	74	RC	Chips	1.20	0.5
Auag Resources	RC38	128	130	RC	Chips	0.55	<0.05
Auag Resources	RC38	128	128	RC	Chips	1.61	0.8
Auag Resources	RC38	130	131	RC	Chips	0.86	1.0
Auag Resources	RC38	139	140	RC	Chips	0.61	<0.05
Auag Resources	RC38	142	143	RC	Chips	0.69	0.5
Auag Resources	RC39	69	70	RC	Chips	1.28	<0.05
Auag Resources	RC39	70	71	RC	Chips	0.66	<0.05
Auag Resources	RC39	79	80	RC	Chips	0.63	<0.05
Auag Resources	RC39	80	81	RC	Chips	0.01
Auag Resources	RC39	81	82	RC	Chips	0.01	<0.05
Auag Resources	RC39	82	83	RC	Chips	0.25	<0.05
Auag Resources	RC39	83	84	RC	Chips	3.72	6.0
Auag Resources	RC39	84	85	RC	Chips	4.55	34.0
Auag Resources	RC39	85	86	RC	Chips	4.28	6.0
Auag Resources	RC39	86	87	RC	Chips	4.96	3.0
Auag Resources	RC39	87	88	RC	Chips	3.38	1.0
Auag Resources	RC39	88	89	RC	Chips	2.34	<0.05
Auag Resources	RC39	89	90	RC	Chips	3.04	1.0
Auag Resources	RC39	90	91	RC	Chips	1.17	<0.05
Auag Resources	RC39	130	131	RC	Chips	0.51	<0.05
Auag Resources	RC41	77	78	RC	Chips	0.69	<0.05
Auag Resources	RC41	79	80	RC	Chips	1.98	9.0
Auag Resources	RC41	80	81	RC	Chips	0.21	<0.05
Auag Resources	RC41	81	82	RC	Chips	0.39	<0.05
Auag Resources	RC41	82	83	RC	Chips	1.09	<0.05
Auag Resources	RC41	83	84	RC	Chips	0.61	1.0

Cyclone Metals Limited ASX: CLE

Page: 53 of 54

ASX Announcement 17 March 2022

==> picture [143 x 48] intentionally omitted <==

Company	ID	From	To	Drill Type	Sample Type	Au ppm	Ag ppm
Auag Resources	RC41	84	85	RC	Chips	0.88	1.0
Auag Resources	RC41	85	86	RC	Chips	1.56	3.0
Auag Resources	RC41	86	87	RC	Chips	1.34	3.0
Auag Resources	RC41	87	88	RC	Chips	0.38	1.0
Auag Resources	RC41	88	89	RC	Chips	0.51	1.0
Auag Resources	RC41	134	135	RC	Chips	0.51	<0.05
Auag Resources	RC41	150	151	RC	Chips	0.50	1.0
Auag Resources	RC41	151	152	RC	Chips	0.80	2.0
Auag Resources	RC41	152	153	RC	Chips	0.81	5.0
Auag Resources	RC41	162	163	RC	Chips	0.57	1.0
Auag Resources	RC41	163	164	RC	Chips	0.88	1.0
Auag Resources	RC41	164	165	RC	Chips	0.87	2.0
Auag Resources	RC41	167	168	RC	Chips	0.55	2.0

Cyclone Metals Limited ASX: CLE

Page: 54 of 54

AI assistant

IRON BEAR RESOURCES LTD Capital/Financing Update 2022

65091_rns_2022-03-16_82c1a48d-b84c-4f6c-8594-93cc21345514.pdf

17 March 2022

ACQUISITION OF HIGHLY PROSPECTIVE GOLD, COPPER, NICKEL AND PGE PROJECTS IN NEW ZEALAND – CLARIFICATION ANNOUNCEMENT

Highlights

Grand Port’s Projects

South Island

Local Geology

Mineralisation Style

Previous Exploration

North Island

Project Overview

Local Geology

Mineralisation Style

Previous Exploration

Significant Historical drilling and trenching results (Figure 10, Tables 4 and 5) at the Muirs Project

Non-JORC Historical Estimate

• 5.15 Mt @ 1.34g/t Au for 222,000 ounces gold (using 0.5g/t Au cut off)*

Exploration Potential

Stage 1

Stage 2

Acquisition Terms

Placement

Competent Persons Statement

APPENDIX 1.

Section 1: Sampling Techniques and Data

Section 2: Reporting of Exploration Results

Section 1: Sampling Techniques and Data

Section 2: Reporting of Exploration Results

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

Section 1: Sampling Techniques and Data

AI assistant

IRON BEAR RESOURCES LTD — Capital/Financing Update 2022

65091_rns_2022-03-16_82c1a48d-b84c-4f6c-8594-93cc21345514.pdf

17 March 2022

ACQUISITION OF HIGHLY PROSPECTIVE GOLD, COPPER, NICKEL AND PGE PROJECTS IN NEW ZEALAND – CLARIFICATION ANNOUNCEMENT

Highlights

Grand Port’s Projects

South Island

Local Geology

Mineralisation Style

Previous Exploration

North Island

Project Overview

Local Geology

Mineralisation Style

Previous Exploration

Significant Historical drilling and trenching results (Figure 10, Tables 4 and 5) at the Muirs Project

Non-JORC Historical Estimate

• 5.15 Mt @ 1.34g/t Au for 222,000 ounces gold (using 0.5g/t Au cut off)*

Exploration Potential

Stage 1

Stage 2

Acquisition Terms

Placement

Competent Persons Statement

APPENDIX 1.

Section 1: Sampling Techniques and Data

Section 2: Reporting of Exploration Results

Section 1: Sampling Techniques and Data

Section 2: Reporting of Exploration Results

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

Section 1: Sampling Techniques and Data

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IRON BEAR RESOURCES LTD Capital/Financing Update 2022