KILLI RESOURCES LIMITED — Capital/Financing Update 2024

Jul 16, 2024

MT RAWDON WEST PROJECT ASX ANNOUNCEMENT ASX | KLI

17 July 2024

Completion of Geophysical Survey at Kaa target Au-Cu Project, Queensland

• The ground geophysical survey (IP) covering 2.5km[2] has been completed at the Kaa target.

• Results of IP Survey will include a 3D analytical model, to be published in coming weeks.

• Diamond drill contract awarded, for maiden drill campaign, to commence in a month.

• Drill program to drill test high-grade Au-Cu structure which returned rock chip assays of 238g/t Au and 5.4% Cu .

Killi Resources Limited (‘ Killi ’ or the ‘ Company ’) (ASX: KLI) is pleased to announce the ground geophysical survey at the Kaa target, at the 100% owned Mt Rawdon West Project has been completed. The survey grid covered an area of 2.5km[2] and will provide an analytical geophysical 3D model down to 300m depth.

Processing the raw data will take 2-3 weeks and will provide an analytical signature for resistive as well as conductive rock units beneath the 1.8km high-grade copper-gold trend at Kaa.

Recently the Company reported outstanding surface rock chip assays returning maximum values of 238g/t Au, 5.4% Cu and 907g/t Ag , indicating a previously un-recognised epithermal system.

Results from the IP survey will be combined with surface mapping and surface geochemical datasets to provide robust drill targets for the maiden drill campaign at the Kaa target. To date not one drill hole has been completed by Killi or previous explorers, and the Company looks forward to reporting results to the market as they become available.

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Figure 1. View from the ridge at Kaa target, during collection of IP Survey data.

KILLI Resources Limited | ASX Announcement | www.killi.com.au | ASX:KLI

Chief Executive Officer, Kathryn Cutler said: “This is the next piece a of the puzzle for Kaa. Once processing has been completed and compiled with other datasets, we will have robust drill targets with all the information possible, with the maiden drill program to execute following that, in the coming month”.

Kaa high-grade gold target

The Kaa target covers 1.8km of strike with surface assays confirming high-grade gold-copper-silver mineralisation in association with highly anomalous pathfinder elements of antimony, bismuth, mercury and tellurium.

As previously reported (ASX announcement dated 9[th] July , 2024), a very high-grade sample, believed to represent the surface outcrop of a mineralised structure returned 238g/t Au, 2.1% Cu & 513g/t Ag in assay, with multiple samples along the trend returning stellar results of:

• MRRK061: 14.3g/t Au, 2.2% Cu & 907g/t Ag

• MRRK065: 12.3g/t Au, 0.3% Cu & 60g/t Ag

• MRRK073: 5.89g/t Au, 5.4% Cu & 45.7g/t Ag

• MRRK068: 5.81g/t Au, 1.9% Cu & 211g/t Ag

• MRRK072: 6.06g/t Au, 1.5% Cu & 585g/t Ag

Field work has identified a high-grade gold and copper structure in-situ- at surface which extends from the historical ‘Wonbah Copper Mine’ along the soil anomaly to the south-east along a ridge. Rock chips collected during this recent program were taken from outcrop along the ridge which is approximately 200m in width.

Additional old workings, veins and gossan structures were located along the trend and sampled and returned on average 5-6g/t Au, 1-2% Cu, and 100g/t Ag. One specific gossanous outcrop striking east-southeast and dipping shallowly to the south-west was sampled and returned an outstanding result of 238g/Au, 2.1% Cu, 513g/t Ag, 2.2% Pb, 0.3% Zn (MRRK074). The outcrop is interpreted as the main Kaa gold-copper trend exposed at surface.

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Figure 2. Kaa, copper-gold trend, with rock chip results.

KILLI Resources Limited | ASX Announcement | www.killi.com.au | ASX:KLI

Next Steps

The Ground Induced Polarisation geophysical survey has been completed at Kaa, with raw data to be processed in the next 2-3 weeks. The survey will provide a 3D geophysical model down to 300m depth aiming to identify any sulphides beneath the gold-copper-silver mineralisation seen at surface. IP surveys have proven successful in identifying drill targets for exploration of porphyry-epithermal style systems in Australia, historically.

Geophysical anomalies identified will provide drill targets for the upcoming drill campaign.

The Drill Contract has been awarded with the Company planning to mobilise a diamond drill rig in a month.

Mapping and assay results from additional soils and rock chips collected at Kaa as well as regionally are expected to be received by the end of the month.

Results from surface mapping will be compiled with the results of the Ground IP geophysical survey to determine drill targets for the Company’s maiden drill campaign, and the first holes ever at the Kaa Prospect.

Authorised for release by the Board of Killi Resources Limited.

Enquires

Kathryn Cutler Chief Executive Officer +61 8 9322 7600 admin@killi.com.au

Compliance Statement

The information in this report that relates to prior Exploration Results for the Mt Rawdon West Project is extracted from the ASX Announcement listed below which is available on the Company website www.killi.com.au and the ASX website (ASX code: KLI):

code: KLI):
Date	Announcement title
7 September 2023	High-grade copper up to 7.2% Cu and gold 12.4g/t Au at surface, Baloo
30 October 2023	Large-scale copper-gold porphyry targets defined, Mt Rawdon West
9 July 2024	Confirmed high-grade gold-copper structure, Mt Rawdon West

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the estimates in the market announcements continue to apply and have not materially changed. The Company confirm that form and context in which the Competent Person’s finding are presented have not been materially modified from the original market announcements.

Competent Person’s Statement

The information in this report that relates to Exploration Results is based on information compiled by Ms Kathryn Cutler. Ms Cutler is a Member of The Australasian Institute of Mining and Metallurgy. Ms Cutler has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity which they are 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. Ms Cutler 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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KILLI Resources Limited | ASX Announcement | www.killi.com.au | ASX:KLI

About Killi Resources Limited

The Company is focussed on exploring for a new major mineral discovery at its projects in Western Australia and Queensland, Figure 3. The projects are belt-scale land holdings, located in well-endowed mineral provinces, that are significantly underexplored and amenable to a new large-scale discovery.

The Company has recently entered into a Earn-In Joint Venture with Gold Fields at its West Tanami Project in the Tanami, where Gold Fields can earn up to 85% of the Gold Project.

The Company also retains copper rights to the Balfour Project in the Pilbara of Western Australia, where the project was originally pegged for its copper prospectively. In early 2024 the Company completed the same of the project to Black Canyon (ASX: BCA), where Killi received $500,000 worth of Black Canyon shares for the deal.

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Figure 3. Location of Killi Resources Limited gold and copper projects in Australia.

The Company owns 100% of the Mt Rawdon West Project located inland from Bundaberg in Queensland. The project consists of one granted 305km[2] tenement. The land holding covers the intersection of the highly prospective Mt Rawdon gold corridor with the Mt Perry copper-gold corridor, within the Mt Perry region, Figure 4.

The Mt Rawdon Gold Mine is only 8km from Killi’s tenement boundary and has produced 1.8 million ounces of gold to date, consistently producing 75,000 - 80,000oz annually.

The controlling mineral structures from Mt Rawdon and Mt Perry deposits intersect in the centre of Killi tenure, at the Kaa and Baloo prospects, and the Company is actively exploring the project for a new Porphyry Copper/Gold & Epithermal-Gold systems.

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Figure 4. Location of the Mt Rawdon West Project 70 kilometres inland from Bundaberg, land holding of 309km[2] .

KILLI Resources Limited | ASX Announcement | www.killi.com.au | ASX:KLI