ITECH MINERALS LTD — Capital/Financing Update 2024

Jul 4, 2024

ASX RELEASE

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5 July 2024

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BOARD & MANAGEMENT

Glenn Davis - Chair Michael Schwarz - MD Gary Ferris - NED Jarek Kopias - Co Sec

CAPITAL STRUCTURE

Ordinary Shares Issued 122.3M

Options Issued 3.0M

Performance rights Issued 3.6M

182 G/T AU IN ROCK CHIPS FROM REYNOLDS RANGE, NT

HIGHLIGHTS

• Fast tracked results for gold assays from rock chips at Reynolds Range have returned up to 182 g/t Au

• Results for copper, silver, base metals and lithium are still pending and are expected in coming weeks

CONTACT

Address: Level 3, 170 Greenhill Rd PARKSIDE SA 5063

Email: info@itechminerals.com.au Website: www.itechminerals.com.au Telephone: +61 2 5850 0000

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Location: Reynolds Range, Northern Territory

Contact: Michael Schwarz Managing Director

• Numerous outcropping low-sulphide gold style veins systems were identified and sampled at the Sabre, Falchion and Troutbeck prospects

• New mineralised trend identified over 1km south-west of Sabre with rock chips retuning up to 4.1 g/t Au

• Mapping and sampling have confirmed the potential for widespread copper, gold and silver mineralisation across the ~70km of strike Lander Shear Zone covered by the tenement package

• The iTech team is currently defining drill targets for both the copergold and gold only systems

“iTech Minerals fast tracked gold assays from the Reynolds Range Project to get an early indication of the gold potential of the prospects visited in the recent rock chip sampling program. The results show great potential for both high grade low-sulphide gold style veins systems at the Sabre and Falchion Prospects with outstanding rock chips up to 182 g/t gold and gold associated with copper mineralisation at both the Scimitar and Reward Prospects. The Company eagerly awaits the remaining copper, silver and base metal assays in the coming weeks.”

Managing Director - Mike Schwarz

E: mschwarz@itechminerals.com.au Ph: +61 2 5850 0000 W: www.itechminerals.com.au

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www.itechminerals.com.au

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Reynolds Range Project Background

The Reynolds Range project consists of three Exploration Licenses, currently being acquired by iTech Minerals Ltd, of which Prodigy Gold NL (ASX: PRX) holds 100% of two licences and 80% of another - 20% of the third license is owned by Select Resources Pty Ltd (Select) (Figure 1). The project covers a total of 375 km[2] of the Aileron Province, part of the Paleoproterozoic North Australian Craton. The Project is located 90-230km NNW of Alice Springs with access from the Stuart Highway and then the un-sealed Mt Denison road.

Reconnaissance Sampling

The reconnaissance sampling field trip was primarily undertaken to check the validity of existing gold and copper-gold prospects identified by previous explorers. To get a short-term understanding of the gold potential of the prospects, the gold analyses, undertaken by the fire assay method, were fast tracked to get early results ahead of the copper-silver and base metals. These preliminary results confirm that there is significant potential for gold mineralisation within the Reynolds Range tenements, both in gold only low-sulphide vein style systems such as Sabre and Falchion, but also with polymetallic styles of mineralisation, such as at Scimitar and Reward, which have appreciable amounts of copper and silver associated with gold.

Of the 16 samples taken from the low-sulphide gold vein systems, 4 met or exceeded 1.0 g/t Au with an outstanding assay of 182 g/t Au at Sabre. Of the 11 samples taken for gold with copper, silver and other base metals, 4 met or exceeded 1.0 g/t Au with an assay of 3.4 g/t Au associated with copper mineralisation at Scimitar. Considering the reconnaissance nature of sampling, iTech is pleased with the strike rate of significant gold results.

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Figure 1. Location diagram of EL 23655, EL 23888 and EL 28083 with location of rock chip samples taken and significant gold results.

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Figure 2. Location diagram of EL 23655, EL 23888 and EL 28083 with significant gold and copper prospects on regional geology[1]

Sabre Gold Prospect

Four rock chip samples were taken at Sabre and another two approximately 1.1km to the south-west where additional gossanous quartz veins were found to be outcropping. Significant results include

• RR24-040 – 182.0 g/t Au

• RR24-044 – 4.1 g/t Au (1.1km southwest of Sabre)

• RR24-042 – 1.0 g/t Au

• RR24-043 – 0.8 g/t Au

The Sabre Prospect (Figure 1) is part of the >42km long Stafford Gold Trend and contains shallow gold workings associated with the Lander Shear Zone. Gold mineralisation is associated with subvertical quartz veins and stringers with fine disseminated sulphides (pyrite, pyrrhotite +/- arsenopyrite) in zones of sericite alteration over a strike of at least 500m.

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Figure 3. Sample RR24-040 on the right assayed 182 g/t Au and sample RR24-044 on the right assayed 4.1 g/t Au

1 ASX: ITM 15 May 2024

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Falchion Gold Prospect

Six rock chip samples were taken from the Falchion Prospect targeting mineralised quartz veins.

Five samples were taken of gossanous quartz veins which contain anomalous lower levels of gold. One sample was taken of highly brecciated quartz rich schist. This sample contained significant gold mineralisation.

• RR24-032 – 8.7 g/t Au

At Falchion, (Figure 1) mineralisation appears in outcrop as ~2 m thick sericite-altered sheared turbidite with boudinaged and folded quartz veins trending E-W in a distal chlorite alteration zone. Mineralisation at Falchion appears to be constrained to a SE-NW corridor of sporadic anomalism over 350 m of strike.

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Figure 4. Sample RR24-032 which assayed 8.7 g/t Au at the Falchion Gold Prospect.

Scimitar Copper-Gold Prospect

Eight rock chip samples were taken from a zone of north-south trending outcropping copper mineralisation over 2.1km, which occurs to the east of the main Scimitar soil and electromagnetic anomaly. The primary target at Scimitar wasn’t gold but samples show that gold is a significant part of the polymetallic mineralising system along with copper and silver.

Significant results include.

RR24-010 – 3.3 g/t Au RR24-009 – 1.0 g/t Au

The Scimitar Cu-Au prospect (Figure 2) is a 1.5km long north-south trending high-grade Cu-Au soil and rock chip anomaly. Au-Cu anomalism is associated with sheeted quartz veining and alteration halos including As-Pb-Zn. The prospect is associated with a package of folded turbiditic sediments (Lander Group), surrounded by granitic units to the west and east. Local alteration around the Scimitar prospect includes chlorite, kaolinite, silica, sericite and pervasive iron staining. Malachite, pyrite, arsenopyrite and vein-hosted chalcopyrite closely associated with Au-Cu anomalism.

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Figure 5. Rock chip sample locations at the Scimitar prospect containing green malachite (copper) mineralisation. RR24-010 (right) assayed 3.3 g/t Au and RR24-090 assayed 1.0 g/t Au.

Reward Copper-Gold-Silver Prospect

Three rock chip samples were taken from the old workings to determine the copper, gold and silver content of variations on the style of mineralisation mined. All three samples came back with significant gold mineralisation associated with copper (malachite) mineralisation readily identifiable in hand specimen.

• RR24-014 – 0.6 g/t Au

• RR24-015 – 1.0 g/t Au

• RR24-016 – 1.0 g/t Au

The Reward Prospect (Figure 6) is considered prospective for copper, gold and silver mineralisation and hosts some shallow copper oxide workings from the 1950’s era with abundant malachite, azurite and chalcocite. It occurs associated within a brecciated shear zone and sulphidic sediments. This style of polymetallic mineralisation has similarities to the nearby Jervois Deposit, 350km to the east, which has a current JORC Resource of 23.80 Million tonnes at 2.02% copper, 0.25g/t gold and 25.3g/t silver (Jervois Base Metal Project — KGL RESOURCES).

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Figure 6. Copper mineralisation at the Reward copper mine, containing green malachite and chrysocolla and blue azurite mineralisation. Sample RR24-014 (left) assayed 0.61 g/t Au, sample RR24-015 (centre) assayed 1.0 g/t Au and sample RR24-016 (right) assayed 1.0 g/t Au.

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Figure 7. Examples of copper workings at the Reward copper mine.

Future Work

The fast-tracked, fire assay, gold results at the Reynolds Range Project provides iTech Minerals with significant encouragement to advance exploration for copper and gold at the project. In particular, the 182 g/t Au rock chip at Sabre shows the potential for very high-grade gold in the low-sulphide quartz vein style of mineralisation. This style of mineralisation appears to be widespread with significant results at Sabre, Sabre Southwest and Falchion, covering an area of 1.8km x 1.1km. The confirmation of gold mineralisation with copper at Scimitar and Reward adds significant value to these polymetallic systems. iTech is currently generating drill targets at Scimitar Project which has a significant untested EM anomaly believed to be associated with the nearby outcropping mineralisation.

The remaining copper-silver-base metal and lithium assay results are expected in the coming weeks and will help the Company prioritise the copper-gold and gold targets for drill testing.

For further information please contact the authorising officer Michael Schwarz:

iTech Minerals

Michael Schwarz, FAusIMM, AIG Managing Director E: mschwarz@itechminerals.com.au Ph: +61 2 5850 0000 W: www.itechminerals.com.au

ABOUT iTECH MINERALS LTD

iTech Minerals Ltd ( ASX:ITM , iTech or Company ) is an ASX listed mineral exploration company exploring for and developing battery materials and critical minerals within its 100% owned Australian projects. The Company is exploring for graphite, kaolinite-halloysite, clay hosted rare earth element (REE) mineralisation and developing the Campoona Graphite Deposit in South Australia. The Company also has extensive exploration tenure prospective for Cu-Au porphyry mineralisation, IOCG mineralisation and gold mineralisation in South Australia and the Northern Territory and tin, tungsten, and polymetallic Cobar style mineralisation in New South Wales.

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COMPETENT PERSON STATEMENT

The information which relates to exploration results is based on and fairly represents information and supporting documentation compiled and reviewed by Michael Schwarz. Mr Schwarz has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking, to qualify as a Competent Person as defined in the 2012 edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ (the JORC Code). Mr Schwarz is a full-time employee of iTech Minerals Ltd and is a member of the Australian Institute of Geoscientists and the Australian Institute of Mining and Metallurgy. Mr Schwarz consents to the inclusion of the information in this report in the form and context in which it appears.

References

ASX Announcement: 17m @ 3.93 g/t Au in Drilling and 20.3% Cu in Rock Chips on 15 May 2024 and “Sampling Conforms Potential at Reynolds Range” on 7 June 2024. The Company confirms that it is not aware of any new information or data that materially affects the information included in the cross-referenced announcements.

Sample No.	Easting (m)	Northing (m)	Sample Type	Prospect	Au (g/t) (0.01 g/t)
RR24-006	273632	7548442	Base metals/Gold	Scimitar Area	0.07
RR24-007	273773	7548818	Base metals/Gold	Scimitar Area	0.03
RR24-008	273782	7548795	Base metals/Gold	Scimitar Area	0.01
RR24-009	273915	7550028	Base metals/Gold	Scimitar Area	1.00
RR24-010	273849	7550064	Base metals/Gold	Scimitar Area	3.26
RR24-011	273925	7550371	Base metals/Gold	Scimitar Area	0.04
RR24-012	273789	7550403	Base metals/Gold	Scimitar Area	0.07
RR24-013	273792	7550436	Base metals/Gold	Scimitar Area	0.21
RR24-014	275269	7545075	Base metals/Gold	Reward	0.61
RR24-015	275269	7545075	Base metals/Gold	Reward	1.00
RR24-016	275269	7545075	Base metals/Gold	Reward	1.04
RR24-028	241529	7569607	Gold	Troutback	0.01
RR24-029	241548	7569568	Gold	Troutback	0.02
RR24-030	241531	7569529	Gold	Troutback	0.05
RR24-032	263536	7549663	Gold	Falchion	8.70
RR24-033	263517	7549632	Gold	Falchion	0.05
RR24-034	263507	7549659	Gold	Falchion	<0.01
RR24-035	263473	7549661	Gold	Falchion	0.02
RR24-036	263511	7549644	Gold	Falchion	<0.01
RR24-037	263353	7549468	Gold	Falchion	<0.01
RR24-038	263351	7549467	Gold	Falchion	<0.01
RR24-039	265048	7549006	Gold	Sabre	0.05
RR24-040	265059	7548981	Gold	Sabre	182
RR24-041	265062	7548989	Gold	Sabre	0.40
RR24-042	265050	7549070	Gold	Sabre	0.99
RR24-043	264027	7548536	Gold	Sabre South	0.79
RR24-044	264051	7548513	Gold	Sabre South	4.14
Table 1. Gold assay results from rock chip samples at the Reynolds Range Project (all coordinates are in MGA94 Z53, detection limit is 0.01 g/t Au).

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APPENDIX 1: Summary of terms of the acquisition agreements

iTech Minerals is currently in the process of acquiring the Reynolds Range Project from Prodigy Gold. The following provides a summary of the key terms of the agreement.

Tenements

The first SPA covers EL23888 & EL28083 (SPA 1), and the second SPA covers EL23655 (SPA 2).

Tenement	Prodigy Gold Ownership	Status	Notes	SPA
EL23888	100%	Granted		1
EL28083	100%	Granted		1
EL23655	80%	Granted	Joint Venture with Select Resources Pty Ltd / Prodigy Gold holds an 80% beneficial interest with 60% interest currently registered on title	2

Key Terms of the Agreement

Key term	SPA 1	SPA 2
Deposit (refundable if not completed, net of tenement holding cost from 1.2.2024 for SPA1 and SPA2)	$20,000	NIL
Completion Payment	$40,000	$40,000
Reimbursement of agreed holding costs for the period 1.2.2024 to Completion (capped at $50,000)	Full holding cost subject to Completion	Full holding cost subject to Completion
Royalty on any mineral or metallic product recovered from the Mining area (other than graphite)	1%	1%
Conditions Precedent (CP) • Government and Land Council approvals • Consent of Franco Nevada transfer of EL23888 • Waiver by Select Resources of first right of Refusal in respect of EL 23655 • Completion occurring under SPA 1	Yes Yes No	Yes No Yes (but can be waived by iTech) Yes (but can be waived by iTech)

Completion of the sale for both SPA’s is expected to occur 10 business days after all CP’s are satisfied or waived with a cut-off date for the satisfaction of the CP’s of 31 August 2024.

The SPA’s contain warranties and other provisions that are typical for an agreement of this nature.

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APPENDIX 2: JORC TABLE 1 REYNOLDS RANGE

SECTION 1: SAMPLING TECHNIQUES AND DATA

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

Criteria	JORC Code explanation	Commentary
Sampling techniques	Nature and quality of sampling (e.g. cut	Rock chips for copper and gold were taken from outcrop when
	channels, random chips, or specific	evidence for mineralisation was observed. Samples with observable
	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.	malachite or iron rich gossanous textures were selectively sampled. Rock chips for lithium mineralisation were selected based on the visual interpretation
	Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used	Samples taken were visually identified to be representative of the
		target mineralisation style.
	Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information	The nature of gold and base metal mineralisation could be variable
		and include high grade, high nugget quartz veins, massive sulphide and disseminated sulphide typical of other deposits in the area. The orientation of mineralisation is not yet confirmed. Mineralisation shows a correlation to sulphide and veining, in particular pyrrhotite, pyrite, galena, sphalerite, and chalcopyrite and quartz sulphide veining. Whole rock and rock chips samples were collected and submitted according to standard practices. A minimum of 50g of sample is collected in a calico bag, described, location reported and submitted for analysis. Typical sample weights are 0.5kg-1kg. Larger samples will tend to be more representative however the geologist applies a
		bias in selecting samples to predominantly collect material that will
		inform on the local presence of elements of interest. Samples were submitted to Bureau Veritas Adelaide for crushing and pulverising. For multielement and lithium samples, an aliquot of sample is dissolved using a mixed acid digest, MA100 then assayed by ICP-AES (MA101) and ICP-MS (102). Gold analyses are undertakenusing a40g chargefor FireAssaywith AASfinish.
Drilling techniques	Drill type (e.g. core, reverse circulation, open-	No drilling was undertaken as part of this release.
	hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face sampling bit or other type, whether core is oriented and if so, by what method, etc.).
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed	No drilling was undertaken as part of this release.
	Measures taken to maximise sample recovery and ensure representative nature of the samples	No drilling was undertaken as part of this release.
	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 was undertaken as part of this release.
Logging	Whether core and chip samples have been	Samples were geologically logged to broadly identify characteristics
	geologically and geo-technically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.	of the mineralisation style being sought but not at an appropriate level to support a Mineral Resource estimation considering it is early-stage exploration.
	Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography.	Logging of rock chip samples is qualitative in nature and identified the characteristics of the mineralisation style being sought. All samples were photographed.
	The total length and percentage of the relevant intersections logged	No drilling was undertaken as part of this release.

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Criteria	JORC Code explanation	Commentary
Sub-sampling techniques and sample preparation	If core, whether cut or sawn and whether	No drilling was undertaken as part of this release.
	quarter, half or all core taken.
	If non-core, whether riffled, tube sampled,	No drilling was undertaken as part of this release.
	rotary split, etc. and whether sampled wet or
	dry.
	For all sample types, the nature, quality and appropriateness of the sample preparation technique.	Samples were submitted to Bureau Veritas Adelaide for crushing and pulverising according to industry standard practices for rock chip samples.
	Quality control procedures adopted for all sub- sampling stages to maximise representivity of samples.	No additional quality control procedures were applied.
	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.	Samples taken were visually identified to be representative of the
		target mineralisation style.
	Whether sample sizes are appropriate to the grain size of the material being sampled.	Sample sizes are considered appropriate to give an indication of mineralisation given the particle size and preference to keep the sample weight below 4 kg to ensure the requisite grind size in a LM5 sample mill.
Quality of assay data and laboratory tests	The nature, quality and appropriateness of the	ITM used a lead collection fire assay using a 40g sample charge. For
	assaying and laboratory procedures used and whether the technique is considered partial or total.	low detection, this is read by ICP-AES, which is an inductively coupled plasma atomic emission spectroscopy technique, with a lower detection limit of 0.001 ppm Au and an upper limit of 1,000 ppm Au which is considered appropriate for the material and mineralisation and is industry standard for this type of sample. For multi-element sample analysis, the sample is assayed for a suite of 59 different accessory elements (multi-element using the Bureau Veritas MA100/1/2 routine which uses a mixed acid digestion and finish by a combination of ICP-OES and ICP-MS depending on which method provides the best detection limit). In addition to standards and blanks previously discussed, Bureau Veritas conducted internal lab checks usingstandards and blanks.
	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.	No geophysical data is being reported as part of this release.
	Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.	iTech is relying on laboratory standards and blanks for quality control given the small batch size of the sample submission. Two significant gold assays were repeated RR24-040 which originally assayed 182 g/t Au had a repeat assay of 175 g/t Au. Sample RR24-032 which had an original assay of 8.7 g/t Au had a repeat assayof 8.7g/t Au.
Verification of sampling and assaying	The verification of significant intersections by	No drilling was undertaken as part of this release.
	either independent or alternative company personnel.
	The use of twinned holes.	No drilling was undertaken as part of this release.
	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.	Primary data was collected into an Excel spreadsheet and the data was imported into iTech Minerals proprietary database system which contains industry standard data verification and storage protocols.
	Discuss any adjustment to assay data.	No assay data is being reported as part of this release.
Location of data points	Accuracy and quality of surveys used to locate	Rock chip sample locations were recorded with handheld GPS,
	drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.	providing accuracy of ± 5m. This degree of variation is deemed acceptable for exploration sampling...
	Specification of the grid system used.	The grid system used is MGA GDA94, Zone 53.
	Quality and adequacy of topographic control.	For holes surveyed by handheld GPS the RL has been updated based off the 15m SRTM data and recorded in the database.

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Criteria	JORC Code explanation	Commentary
Data spacing and distribution	Data spacing for reporting of Exploration	Rock chip samples were taken when surface mineralisation was
	Results.	visually identified. The nature of outcropping mineralisation
		determined the sampling density and spacing.
	Whether the data spacing and distribution is	The historically reported drilling has not been used to prepare
	sufficient to establish the degree of geological	Mineral Resource Estimates.
	and grade continuity appropriate for the
	Mineral Resource and Ore Reserve estimation
	procedure(s) and classifications applied.
	Whether sample compositing has been	No compositing was applied.
	applied.
Orientation of data in relation to geological structure	Whether the orientation of sampling achieves	The orientation of sampling in relation to structures and
	unbiased sampling of possible structures and	mineralisation is unknown.
	the extent to which this is known, considering
	the deposit type.
	If the relationship between the drilling	No drilling was undertaken as part of this release.
	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	Samples were transported from site to a secured locked storage
	security.	facility at the Aileron Roadhouse and then Alice Springs by iTech
		Minerals personnel, where they were loaded onto a contracted
		delivery service to Bureau Veritas Laboratories secure preparation
		facility in Adelaide. iTech Minerals personnel have no contact with
		the samples once they have been picked up for transport. Tracking
		sheets have been set up to track the progress of the samples. The
		preparation facilities use the laboratory’s standard chain of custody
		procedure.
Audits or reviews	The results of any audits or reviews of	No audits or reviews have been undertaken.
	sampling techniques and data.

SECTION 2: REPORTING OF EXPLORATION RESULTS

Criteria	JORC Code explanation	Commentary
Mineral tenement and land tenure status	Type, reference name/number, location and	Scimitar, Sabre and Reward form part of the Reynolds Range
	ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.	Project and are contained within EL23888. Troutbeck is located within EL23655. Samples were also taken from EL 28083. All tenements are in the Northern Territory. EL23888 and EL23888 are wholly owned by Prodigy Gold, EL23655 is held 80% by Prodigy Gold NL and 20% by Select Resources Pty Ltd. All tenements are currently being acquired by iTech Minerals Ltd under two SPAs as detailed in the text at the end of this release. The tenements are subject to the ‘Reynolds Range Indigenous Land Use Agreement (ILUA)’ between Prodigy Gold and the Traditional Owners via Central Land Council(CLC).
	The security of the tenure held at the time of reporting along with any known impediments to obtaining a license to operate in the area.	The tenements are in good standing with the NT DITT and no known impediments exist.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	The Reynolds Range Project has had a considerable amount of shallow RAB and vacuum drilling completed by previous explorers, which has defined large, low-level gold anomalies (+5ppb Au). Around 3300 holes have been drilled and the average hole depth is 9.8m. The fresh rock beneath the depleted surface cover is largely untested, with just 5 diamond holes completed to a maximum depth of 156m in the entire project area. Prodigy Gold’s assessment of the previous work highlighted the Stafford Gold Zone with a strike length of over 20km and 10 individual prospects with target area in excess of 80km2. Sabre and Falchion were targeted byProdigyGold for follow-upand

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Criteria	JORC Code explanation	Commentary
		drilling by Prodigy Gold at Sabre intersected 35m @ 2.02g/t Au
		including 17m @ 3.93g/t Au3. Further reconnaissance work at
		Stafford Gold Zone also revealed high grade copper and silver
		rock chip samples from the Reward Deposit (~9km SE of Sabre)
		with 20.3% Cu and 271g/t Ag near a down-dip EM conductor
		identified by an airborne electromagnetic survey in 2012. A rock
		sample grading 1.79g/t Au was also returned from the Pine Hill
		Prospect (~3.5km SE of Reward). At the Scimitar Target 305 post
		and vacuum holes have been drilled previously on a 500x50m
		grid. The maximum depth drilled is 15m and average depth is 5m.
		1991-1992 Poseidon Gold obtained 2 rock chip samples from the
		Lander Cu prospect. These were from a pelitic unit and a
		quartz/chlorite breccia with malachite (Price, 1992).
		1992-1993 regional lag sampling at 250m intervals by Poseidon
		Gold defined an area 3km x 2km with anomalous base metals
		(>80ppm As, >100ppm Pb) and a number of isolated elevated
		gold values over the Scimitar prospect. 2 rock chip samples and
		44 LAG samples were obtained over Scimitar from a 21 rock chip
		and 1,211 LAG sample program. Maximum values were over
		Scimitar were 830ppm Zn, 350ppm Pb, and 75ppm Cu. (Price &
		Price, 1993).
		1993-1994 Normandy Exploration and Normandy Poseidon group
		completed 61 3.6m vertical RAB holes over Scimitar targeting Sb
		and Au anomalies from a larger 195 hole program totalling 705m.
		Hole ID’s were RRAB110-RRAB304. Maximum assays returned
		were 420ppm Cu, 250ppm Zn and 90ppm Pb. Rocks identified
		included mudstone and siltstone (some carbonaceous) and
		immature sandstones and greywackes, basalt-dolerite, and
		common chlorite alteration and moderate quartz veining. (Price,
		1994).
		1994-1995 Poseidon Gold drilled 100 POST RAB holes averaging
		3.6m at 50m to 100m spacing into Scimitar from a larger 397-hole
		program totalling 1,772m (RRAB532-RRAB928). 1994-1995 report
		(A.T. Price, 1995).
		1995-1996 Poseidon Gold drilled 175 VAC holes (RAV0001-
		RAV0175) over the Scimitar prospect from a larger program of
		602 holes for 2,976m. The Scimitar VAC holes were drilled at 50m
		x 500m spacing and intercepted sericite altered sediments and
		gossanous brecciated quartz veins. The drilling confirmed a strong
		As, Pb and Zn anomaly with a weaker 1-16ppb Au anomaly. A
		further 37 VAC holes (RCV0565-RCV0605) were drilled to the
		southwest of Scimitar (Price, 1996).
		1996-1997 Normandy Gold took 49 composite lag samples
		(sample 339551-339599) of -6 to +1 fraction over Scimitar at
		100m x 500m spacing over 3 traverses. (Warren & Worland,
		1997).
		1998-1999 Exodus Minerals collected 5 rock chips and 5 soils
		samples at Scimitar. Samples 5761RR, 5762RR and 5763RR
		returned anomalous Au (62ppb, 38ppb, and 17ppb); As
		(24,000ppm, 4,000ppm, and 4,700ppm); Pb (360ppm, 580ppm,
		and 90ppm); and Sb (180ppm, 96ppm, and 102ppm).
		(Greenaway, 1998 & Greenaway, 1999). Note that a further 11
		rock chips have been attributed to Cowden, 2001; but do not
		actually appear in the Cowden, 2001 report. Sample 336053
		returned 37ppm Bi, 580ppm Cu, 19ppm Mo and 260ppm Pb.
		2012 – 2013 Prodigy Gold flew a Tempest airborne EM survey
		over the Reynolds Range area in June and July 2012. This
		identified a prominent 2km x 1km conductor at Scimitar. A
		diamond hole was completed in Q4 2020. A DHEM survey has
		been recentlycompleted.
Geology	Deposit type, geological setting and style of	The project covers Paleoproterozoic metasediments and intrusives
	mineralisation.	in the central Aileron Province of the Arunta region. The surface
		geology has been mapped and described by the Northern
		Territory Geological Survey (NTGS) in the 1:250,000 scale
		Napperby (SF53-09) sheet and in more detail by the Bureau of
		Mineral Resources on the special edition Reynolds Range Region
		1:100,000 scalegeological map.

ASX RELEASE 5 July 2024

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Criteria	JORC Code explanation	Commentary
		On a regional scale the area comprises polydeformed
		Paleoproterozoic Lander Group metasediments intruded by
		numerous felsic and mafic intrusive phases and overlain by
		slightly younger siliciclastic metasediments, including the
		Reynolds Range Group. The area is covered by complex regolith,
		with scree shedding from substantial hills cut by large drainage
		systems. The Company is exploring for sulphide related gold and
		associated base metal mineralisation. This could be shear related
		gold, VMS or IOCG deposits. These styles of deposits are known
		in theprovince.
Drill hole Information	A summary of all information material to the	All relevant historical drill hole information has been previously
	understanding of the exploration results	reported through open file reporting by previous explorers. This
	including a tabulation of the following	data is provided for context to illustrate where anomalous grades
	information for all Material drill holes:	have previously been intersected to guide exploration targeting.
	•easting and northing of the drill hole collar	This data, with further review, may be found to be unsuitable for
		use in resource reporting. All new drill holes completed and
	elevation or RL (Reduced Level – elevation
		assayed by Prodigy Gold with material results (0.2g/t Au) are
	above sea level in metres) of the drill hole
	collar	referenced in previously reported ASX releases.
	•dip and azimuth of the hole	Summaries of all material drill holes from previous ABM/Prodigy
		Gold drilling are available within the Company’s ASX releases.
	•down hole length and interception depth
	hole length.
	If the exclusion of this information is justified	No information material to the announcement has been excluded.
	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	No data aggregation methods have been applied.
	averaging techniques, maximum and/or
	minimum grade truncations (e.g. cutting of
	high grades) and cut-off grades are usually
	Material and should be stated.
	Where aggregate intercepts incorporate short	No data aggregation methods have been applied.
	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	No metal equivalents are being reported. No metallurgical
	metal equivalent values should be clearly	recovery test work has been completed.
	stated.
Relationship between mineralisation widths and intercept lengths	These relationships are particularly important	No drilling was undertaken as part of this release.
	in the reporting of Exploration Results.
	If the geometry of the mineralisation with
	respect to the drill hole angle is known, its
	nature should be reported.
	If it is not known and only the down hole
	lengths are reported, there should be a clear
	statement to this effect (e.g. ‘down hole length,
	true width not known’).
Diagrams	Appropriate maps and sections (with scales)	Refer to Figures and Tables in the body of the text. A sample
	and tabulations of intercepts should be	location plan is provided.
	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.
Balanced reporting	Where comprehensive reporting of all	All material assays received from ITM sampling are reported
	Exploration Results is not practicable,	where sample is above 0.5g/t Au, 5g/t Ag, 0.1% Cu, 0.1% Pb, or
	representative reporting of both low and high	0.1% Zn or were considered geologically significant; together with
	grades and/or widths should be practiced to	reference to previous exploration results of significance.
	avoid misleading reporting of Exploration
	Results.

ASX RELEASE

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5 July 2024

Criteria	JORC Code explanation	Commentary
Other substantive exploration data	Other exploration data, if meaningful and	Information relevant to the results have been provided.
	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.
Further work	The nature and scale of planned further work	Further work is required to generate drill targets. This may include
	(e.g. tests for lateral extensions or depth	further rock chip and/or soil sampling and mapping, geophysical
	extensions or large-scale step-out drilling).	surveys and heritage clearances.
	Diagrams clearly highlighting the areas of
	possible extensions, including the main
	geological interpretations and future drilling
	areas, provided this information is not
	commercially sensitive