KILLI RESOURCES LIMITED — Interim / Quarterly Report 2024

Apr 28, 2024

QUARTERLY REPORT MARCH 2024

ASX: KLI

Highlights

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29 April 2024

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Work completed to date at the Mt Rawdon West Project indicate size and scale of Baloo prospect has potential for a new copper-gold porphyry system, in Queensland.

• 4.5km x 1.5km Cu-Au-Mo soil anomaly at Baloo

• Surface rock chip sample of up to 7.2% Cu, 0.9% Mo and 12.4g/t Au.

• 2km x 0.4km Cu-Au-Mo anomaly at Kaa, which includes historical workings.

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• Work continues to progress on the processing and evaluation of the geochemical and geophysical datasets of the Mt Rawdon West Project to further understand the Cu-Au targets at the Project.

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• The sale of the Balfour Project has been completed, where the full value of $500,000 worth of Black Canyon (ASX: BCA) have been reached and issued to the Company.

Killi Resources Limited (ASX: KLI) (“Killi Resources” or “the Company”) is pleased to report on its activities during the quarter ended 31 March 2024 (Quarter).

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Mt Rawdon West Project, March 2024
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Exploration activities

Mt Rawdon West Project (100% owned, Queensland)

The Company controls a 300km[2] land holding inland from Bundaberg, which covers the intersecting mineral structures from the Mt Rawdon Gold Mine (2M oz produced) and the Nickos Reward Gold Deposit. Located within the historical Mt Perry mining district and within a sequence of sediments intruded by multiple granitoids.

Mineralisation in the area is associated with the intersection of the regional north-west trending faults, with the crosscutting east-north-east faults. With Killi exploration on the Project returning significant copper and gold surface mineralisation, with rock chips of up to 12.4g/t Au and 7.2% Cu and two large surface soil anomalies have been determined (ASX Announcement 7 September 2023).

Within the quarter the Company worked through historical datasets and completed first pass mapping at the Baloo and Kaa Prospects to identify potential key structures that could be associated with copper and gold mineralisation.

LARGE-SCALE COPPER-GOLD PORPHYRY TARGETS, QUEENSLAND

The Company has determined two copper-gold targets of scale, referred to as Baloo and Kaa, at the Mt Rawdon West Project, along strike from the 2-million-ounce Mt Rawdon Gold Mine (Evolution).

The Baloo prospect is delineated by a 4km long by 1.5km wide soil anomaly, which aligns perpendicular and between the two main regional faults, the Mt Rawdon Fault and the Mt Perry Fault.

Surface mapping and reconnaissance confirm copper mineralisation in the form of bornite, chalcocite, malachite and azurite across the anomaly, which are all strong indicator mineral for proximity to intrusive-porphyry coppergold systems. These locations were sampled, and returned up to 7.2% Cu, 12.4g/t Au, and 0.9% Mo in assay, Figure 1. Rock chip samples collected, focussed on the main corridor between the two major faults of the region, as the airborne magnetics show an unusual circular feature.

In addition to surface anomalies from the soil and rock chip programs, historical mines from the early 1900’s were located and sampled. The Wonbah Molybdenum Mine it located on the northern margin of the Baloo Cu-Au-Mo soil anomaly, and is a 20-30m wide quartz plug, with molybdenite on the margins of the quartz vein with the host rock. Assays returned 0.9% Mo (ASX Announcement 7 September 2023).

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Wonbah
Molybdenum
Mine
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Figure 1. Assay results of rock chip & soil samples at Baloo and Kaa, regional faults, tenement, over total magnetic intensity. (ASX Announcement 30 Oct 2023) .

Quarterly Activities Report | March 2024 | ASX: KLI

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Rock chip samples were taken from old workings, outcrop and subcrop locations on hills where bedrock/fresh rock was visible, within an area 5.5 km along strike north-east to south-west and 2.6 km across-strike north-south. Mineralisation is not constrained in any direction.

Assays from the rock chips dominated in anomalous copper gold and silver, with a few samples returning elevated lead of 1 %, molybdenum of 0.9 % and zinc of 0.3 %, Table 1. The best rock chip copper sample returned 7.2 % Cu (MRRK020) attributed to the presence of bornite in quartz veins. Bornite is of considerable interest as it is a copper sulphide mineral often used as an indicator for its proximity to porphyry copper systems.

The best gold result was returned from MRRK007, of 12.4g/t Au, located at the eastern-most end of the program, with no additional data pending further to the east. This result will warrant further investigation to the north-east with the result currently open in all directions and located on the Mt Rawdon Fault.

Of significant interest MRRK014 returned highly anomalous copper at 4.2%, as well as gold, silver, lead and zinc. The sample was taken from a small iron-rich outcrop, where quartz veins within a fine-medium grained felsic unit were observed, with minor copper staining in the form of malachite. The sample was taken during the soil program, where no previous exploration work has been completed, and is 500m along strike from any historic indications of mineralisation.

These programs are the first round of modern exploration at the Project since historical mining operations ended in the early 1900’s, representing a significant discovery opportunity for the Company, as there is not a single drill hole on the tenement to date.

A total of 249 soil samples have been collected, on a 400m x 100m spaced grid at Baloo and Kaa.

Soil anomalies were determined from assay values greater than 10 times the background for gold, copper and molybdenum. Peak soil assay values returned 460ppb Au, 1.43g/t Ag, 781ppm Cu, & 13.4ppm Mo.

The two prospects are transected by the Mt Rawdon Fault, which is a controlling mineralisation structure of the Mt Rawdon Gold Mine, 22km along strike to the south-east, Figure 2.

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Figure 2. Location of the two geochemical targets, Baloo and Kaa at the Mt Rawdon West Project.

Quarterly Activities Report | March 2024 | ASX: KLI

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FIELD MAPPING AND GEOLOGICAL OBSERVATIONS

The area is generally dominated by granitoid rocks, and in particular granodiorite. The granodiorites from the Permian are magnetically quiet and host the much larger Baloo Cu-Au-Mo anomaly which stretches 4km x 1.5km between the Mt Perry and Mt Rawdon Faults.

Field mapping completed saw abundant copper mineralisation at surface, as well as a gold-copper andesitic porphyry dyke was identified at Kaa.

The district has a rich mining history with significant gold, copper and molybdenum mines located on the tenement, which have laid dormant for the past 100 years. Eight historical mines were located over the Baloo corridor, with malachite, azurite and bornite (copper mineralisation) observed in outcrop/subcrop and within the walls of old workings and waste piles. Copper minerals were seen in both the granodiorites and the intermediate dykes in the form of malachite, azurite, chalcocite and bornite.

More old workings were located during the reconnaissance program which were recorded and photographed, Figure 3.

During the mapping program the existing soil anomaly was visited, however the area has little to no outcrop, and has weathered in-situ. One specimen sample was located and recorded as a feldspar-quartz porphyry with rare pyrite pseudomorphs, Figure 4.

Geological observations suggest the region has been subject to multi-generational intrusion events that have deposited and remobilised specific economic minerals at different points, namely copper, gold, silver and molybdenum.

The Company believes the project to be in a potentially significant mineral camp and looks forward to continuing to report the findings from this project.

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Malachite
(copper)
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Figure 3. New shaft Identified 620m south-east of the old workings. Visible malachite in the wall of the shaft, with vertical depth of shaft estimated at 60m. (ASX Announcement 7 Sept 2023)

Quarterly Activities Report | March 2024 | ASX: KLI

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Figure 4. Specimen sample taken from the centre of the Cu-Au-Mo soil anomaly where there is limited outcrop. Sample is feldspar quartz porphyry with rare pyrite pseudomorphs, from Baloo prospect. (ASX Announcement 30 Oct 2023)

HISTORY OF MINING IN THE REGION

Wonbah Knob Copper Mine

The district has a rich mining history with significant gold, copper and molybdenum mines located on the tenement, which have laid dormant for the past 100 years. Eight mines were located over a 7km wide corridor across the tenement, with malachite, azurite and bornite (copper mineralisation) observed in outcrop/subcrop and within the wall of old workings and waste piles. Bornite is of considerable interest as it is a copper sulphide mineral often used as an indicator for its proximity to porphyry copper systems.

The Wonbah Knob Copper Mine which consists of three substantial adits that extend into a hill on the southern side, and two winzes’ (portals for hauling ore out of the mine to the surface), were found on the north-eastern side of the hill. The workings cover 370m of strike and 80m in elevation, Figure 5. Visible copper mineralisation was observed at entries to the adits as well as at the ore passes. Rock chip samples were taken across the hill for analysis.

Granodiorite was identified as the host rock, with varying levels of alteration from weak to intense, mapped in outcrop surrounding the mine. Copper mineralisation appeared to be hosted within quartz veins in the form of 2-3 cm crystals of malachite, azurite and bornite, as well as complete replacement of specific minerals within the granodiorite, Figure 6.

Quarterly Activities Report | March 2024 | ASX: KLI

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1
370m
2
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Figure 5. Wonbah Copper Knob Mine , 1. Historical copper workings of the mine from the early 1900’s, includes three adits into the hill, and one winze for hauling copper ore out of the mine. 2. Photograph of the historical Wonbah Knob Copper Mine Winze (1920’s), with view down to old adits which extend into the hill over a strike of 370m. This is just one of eight old mines identified.

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A B
Malachite
C
Azurite & Bornite
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Figure 6. Wonbah Copper Knob Mine , A. Mineralised copper vein within wall of old working with visible malachite, azurite and bornite. B. Altered granodiorite. C. Native copper sample found at the winze. (ASX Announcement 7 Sept 2023)

Quarterly Activities Report | March 2024 | ASX: KLI

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During the soil program additional shafts were found, recorded and rock chip samples taken. Two shafts were found ~600m along strike from the molybdenum mine, where the size of the shafts were considerable, to 60m depth, and where it appears the shaft has just mined a copper-rich pipe 2m x 2m in diameter, Figure 5.

Geological observations suggest the region has been subject to multi-generational intrusion events that have deposited and remobilised specific economic minerals at different points, namely copper, gold and molybdenum.

The Company believes we are in a potentially significant sulphide camp and looks forward to receiving the assay results from the geochemical program and reporting them to the market in the next few weeks.

Mt Perry Historical Gold-Copper Mine

Copper mineralisation first reported in the region June 1869, with copper mineralisation found at surface in the form of malachite and azurite. Only after the news of the Gympie discoveries did the importance of the Mt Perry system appear significant, and additional work was completed which led to a significant mining operation and smelting process, Figure 7.

Around 1870 fourteen shafts were sunk along the Mt Perry Fault, with underground workings extending 700m along strike north-east – south-west and to a depth of 370m. The mineralised lodes strike from the Mt Perry Fault into Killi tenure, Figure 8.

Mining efforts at Mt Perry increased and decreased with the copper price from the late 1800’s to early 1900’s, with mine records indicating the Mt Perry mine produced 28,612 t of copper, 27,749oz of gold and 793,888oz of silver, with ore generally around 20-30% copper, Royle. M, 1980.

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Figure 7. Historical photography of the Mt Perry smelter, with the mine headframes in the background.

Quarterly Activities Report | March 2024 | ASX: KLI

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Figure 8. Location of the Mt Perry Mine Cu-Au-Ag mine, within the Killi exploration lease, with the mine covered by a mining lease not owned by Killi. Copper and gold mineralised structures striking into Killi ground from the Mt Perry Fault.

Wonbah Molybdenum Mine

Historically this region was part of the Mt Perry Goldfields, a 184km[2] area, host to 60 recorded copper and gold mines.

Located in the centre of the tenement is the Wonbah Molybdenite Mine, first recorded in 1884 when a quartz-pipe containing molybdenite in granite was identified in outcrop. The ore body is a circular pipe, pitching to the north-east at approximately 75 degrees, with the diameter of the pipe increasing in size with depth, representing a cone, Figure 9.

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Figure 9. Schematic of Wonbah Molybdenite Mine, plan view (left) and cross-section of underground workings (right) (1972 Inspection Report, Silver Valley Minerals) (ASX Announcement 2 August 2023).

Quarterly Activities Report | March 2024 | ASX: KLI

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	677	75	10	23	26	1,325	19	4	12	1,085	383	66	2,980	400	107	170	70	24	725	15	11	15	7	252	BDL	BDL	2,400	77	12	4	*Easting and Northing co-ordinates in MGA94_56S grid (ASX Announcement 7 September 2023)
Zn (ppm)
	563	14.85	9,910	471	172.5	88.4	27.2	54.2	74	26.6	73.9	91.1	34	31.9	23.5	71.3	67.6	2.22	40.9	75.6	7.91	11.85	4.2	83.4	19.55	4.69	25.4	10.8	0.97	14.2
Mo (ppm)
	112	13	24.5	4.7	879	8,770	3	29.9	32.1	9.2	117.5	4.1	10,250	12.5	9.5	182.5	83	26.6	73.6	8.8	9.6	7.1	8.8	555	2	2.2	1,200	49.9	5.9	3.2
Pb (ppm)
	13,550	11,350	99	2,270	6,060	20,400	16,050	397	14,100	25,200	33,000	3,260	42,200	44,800	4,290	1,490	23,800	2,140	72,300	1,160	178	37.1	130.5	34,500	142	19.2	17,000	434	61.9	6.7
Cu (ppm)
	9.81	10.25	0.42	0.82	32.9	65.6	7.64	0.69	8.96	4.39	31.1	0.44	75.8	83.7	1.96	19.7	22.3	1.37	27.2	0.53	0.09	0.03	0.04	85.9	0.26	0.03	17.6	0.25	0.08	0.02
Ag (g/t)
	0.06	0.03	0.004	0.01	4.26	12.4	0.17	0.03	0.64	0.02	0.37	0.03	1.16	0.09	0.02	0.11	0.48	BDL	0.04	0.01	BDL	BDL	BDL	0.09	BDL	BDL	0.064	0.008	0.015	<0.005
Au (g/t)
RL	198	213	221	261	353	331	292	257	276	344	337	274	247	283	315	325	321	205	196	287	268	268	265	261	241	223	378.6	333.5	381.9	366.7
Northing	7,227,475	7,225,278	7,224,889	7,224,378	7,225,782	7,225,914	7,224,142	7,224,402	7,224,126	7,225,796	7,225,769	7,224,142	7,223,048	7,226,537	7,226,491	7,226,484	7,226,432	7,226,745	7,225,311	7,224,240	7,223,120	7,223,120	7,223,140	7,223,200	7,228,440	7,228,594	7,225,902	7,222,170	7,222,256	7,222,026
Easting	364,376	364,230	363,457	363,888	366,373	366,299	363,617	363,880	363,615	366,351	366,453	363,617	363,164	365,091	365,273	365,319	365,427	363,656	363,031	363,779	362,694	362,695	362,694	361,731	362,477	362,600	366,080	365,433	365,291	365,107
Prospect	Kaa	Baloo	Baloo	Baloo	Kaa	Kaa	Baloo	Baloo	Baloo	Kaa	Kaa	Baloo	Baloo	Kaa	Kaa	Kaa	Kaa	Baloo	Baloo	Baloo	Baloo	Baloo	Baloo	Baloo	Baloo	Baloo	Kaa	Baloo	Baloo	Baloo
Sample ID	MRRK001	MRRK002	MRRK003	MRRK004	MRRK006	MRRK007	MRRK008	MRRK009	MRRK010	MRRK011	MRRK012	MRRK013	MRRK014	MRRK015	MRRK016	MRRK017	MRRK018	MRRK019	MRRK020	MRRK021	MRRK022	MRRK023	MRRK024	MRRK025	MRRK026	MRRK027	MRRK030	MRRK031	MRRK032	MRRK033

Exploration forecast for Quarter 2, 2024:

Mt Rawdon West

• Finalise all access and permissions for the project, to enable ground disturbing work.

• Conduct heritage survey.

• Further evaluation of the field data in conjunction with the geochemical data is being conducted to understand the intrusions.

• Geophysical data is also being re-evaluated to add further information to the geological model.

Ravenswood North

• Process and interpret RC and Diamond drilling results, with known information from nearby gold deposits.

• Plan drill programs for Rocky to decrease drill spacing between existing 11 drillholes.

West Tanami

• Continue to interpret and understand results of aircore and diamond drilling.

• Interpret the close-spaced low-flown aeromagnetic survey.

• Generate additional gold targets to follow-up in future drill programs.

Compliance Statement

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

Ref	Date	Announcement title
1	30 October 2023	Large-scale copper-gold porphyry targets defined at Mt Rawdon West
2	7 September 2023	High grade copper and gold at surface at Baloo Prospect
3	24 February 2022	Drill ready gold targets for Mt Rawdon West Qld

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements 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.

Corporate

Key expenditure during the quarter comprised costs associated with mapping Baloo and Kaa prospects, evaluation of geochemical data and re-processing of geophysical VTEM data from the Mt Rawdon Project. In addition, geological consulting, database and tenement management costs associated with West Tanami and Ravenswood Projects and administration overheads.

Killi Resources held cash reserves of ~$0.84M at 31 March 2024.

In accordance with ASX Listing Rule 5.3.2, the Company advise that no Mining Development of Production activities were conducted during the quarter.

Related Party Transactions

In accordance with ASX Listing Rules 4.7C.3 payments to related parties of the entity and their associates outlined in the Company’s Appendix 5B for the quarter relate to Directors fees.

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Prospectus -Proposed Use of Funds

In accordance with ASX Listing Rule 5.4.4, the Company provides the following comparison of its actual expenditure on the individual items in the “use of funds” statement in its IPO Prospectus since the date of its admission to ASX against the estimated expenditure on those items in the “use of funds” statement in the IPO Prospectus and an explanation of any material variances. The material variances in exploration expenditure are the result of the re-allocation of expenditure to focus on the higher priority Ravenswood Project following results from initial exploration programs undertaken. The Mt Rawdon West tenement was only granted in March 2023 so whilst also a key also a Project for the Company on-ground exploration activity to date has been limited. The Company also recently sold its Balfour Project to re-focus exploration expenditure on the Ravenswood North and Mt Rawdon Projects.

Item	Proposed Use of Funds1	Actual Use of Funds2	Variance Under/(Over)
Exploration at West Tanami Project	$2,495,000	$2,483,370	$11,630
Exploration at Ravenswood North Project	$1,227,500	$1,330,591	($103,091)
Exploration of Mt Rawdon Project	$720,000	$216,248	$503,752
Exploration of Balfour Project	$367,000	$72,325	$294,675
Expenses of the Capital Raising Offer	$686,824	$592,2982	$94,526
Admin costs, working capital and other	$1,306,887	$2,057,160	($792,719)
Total	$6,803,211	$6,794,436	$8,775

1 Proposed Use of Funds for the first two years following Admission as outlined in the Company’s IPO Prospectus dated 16 November 2021. 2 Includes $130,923 capital raising costs associated with the Company’s June 2023 Entitlement Offer which was not included in the proposed use of funds in the IPO Prospectus.

Performance Rights

A summary of the Performance Rights currently on issue is outlined below. There were no changes to Performance Rights during the Quarter.

Class			Number	Vested (Yes/No)
	Milestone	Expiry
Class A Performance Rights	Each Class A Performance Right will vest and convert (at the election of the holder) into one Share upon the Company achieving a volume weighted average price for 20 consecutive trading days (20 Day VWAP) exceeding $0.40.	Five (5) years from the date of issue.	2,750,0001	Yes
Class B Performance Rights	Each Class B Performance Right will vest and convert (at the election of the holder) into one Share upon the Company achieving a 20 Day VWAP exceeding $0.60.	Five (5) years from the date of issue.	1,850,0001	No
Class C Performance Rights	Each Class C Performance Right will vest and convert (at the election of the holder) into one Share upon the Company achieving a 20 Day VWAP exceeding $0.70.	Five (5) years from the date of issue.	510,0001	No
Class A1 and A2 Performance Rights	Continued employment	7 Feb 2026	53,4632	Yes
Total			5,163,463
1Allotted prior to the Company’s ASX admission. 2Issued during the December 2022 Quarter

Quarterly Activities Report | March 2024 | ASX: KLI

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Tenement Schedule

Table 1. Killi Resources Tenement Holding March 2024 quarter end

As required by listing rule 5.3.3

Iron Bull Bangemall Pty Ltd (a wholly owned subsidiary company of Killi Resources Limited) Access Australia Mining Pty Ltd (a wholly owned subsidiary company of Killi Resources Limited)

			Killi
	Tenement		Ownership	Change in
Project		Hld
	Number	oer	(at end of	Ownership
			quarter)
West Tanami (Western Australia)	E80/5100	Iron Bull Bangemall Pty Ltd	100%	Nil
	E80/5101	Iron Bull Bangemall Pty Ltd	100%	Nil
	E80/5102	Iron Bull Bangemall Pty Ltd	100%	Nil
	E80/5103	Iron Bull Bangemall Pty Ltd	100%	Nil
Ravenswood Nth (Queensland)	EPM26889	Access Australia Mining Pty Ltd	100%	Nil
	EPM26890	Access Australia Mining Pty Ltd	100%	Nil
	EPM26892	Access Australia Mining Pty Ltd	100%	Nil
	EPM26908	Access Australia Mining Pty Ltd	100%	Nil
	EPM26909	Access Australia Mining Pty Ltd	100%	Nil
	EPM28413	Access Australia Mining Pty Ltd	100%	Nil
Mt Rawdon West (Queensland)	EPM27828	Access Australia Mining Pty Ltd	100%	Nil

This Announcement has been authorised by the Board of Directors.

For enquiries contact:

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

ABOUT KILLI RESOURCES

Killi is an Australian based mineral exploration Company focussed on projects in Western Australia and Queensland. The Company is actively exploring for gold and rare-earth elements in the Tanami region of WA, and for copper and gold mineral systems in Queensland, Figure 11.

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Figure 11. Location of Killi Resources Projects in Australia.

Quarterly Activities Report | March 2024 | ASX: KLI

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West Tanami Project

The Company owns 100% of the West Tanami Gold Project in the north-east of Western Australian. The land holding totals 1,634km[2] of granted tenure over 100km strike of the major gold corridor, Tanami Fault System, with existing gold endowment of the Tanami Gold Province greater than 19M oz Au. Within the district there are multiple gold deposits which include Callie Gold Mine (Newmont, ~13Moz Au), the Tanami Goldfields (3M oz Au), Twin Bonanza (1.5M oz Au) and the Coyote and Kookaburra mines (Black Cat Syndicate, ~1M oz Au), Figure 12.

Aside from gold, recent work completed by explorers in the area have highlighted the potential for hydrothermal Rare Earth systems, within the district. 85% of the tenement package is covered by shallow transported cover (12-15m depth) which provides an opportunity for the discovery of a new mineralisation system.

Ravenswood North

The Company owns 100% of the Ravenswood North Project located near Charter Towers in Queensland. The project consists of five granted tenements totalling ~580km[2] . The majority of the land holding covers the prospective RavenswoodCharter Towers gold corridor, host to Ravenswood Gold Mine, Charter Towers, Golden Valley, Kitty O’Shea, Mt Success and Piccadilly, Figure 13.

The Company believes this project has the potential for a large-scale Intrusive-Related Gold System.

Mt Rawdon West

The Mt Rawdon West Project consists of one tenement currently in application, which covers 309km[2] of prospective gold and copper ground between Evolutions Mt Rawdon Gold Mine and SolGold’s Mt Perry Project, located inland 60km from Bundaberg (QLD), Figure 14. The Nicko’s Reward and Mt Rawdon structures intersect in the centre of the tenement and coincide with and existing 1.5km[2] geochemical soil anomaly of Cu-Au-Mo.

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Figure 12. Location of West Tanami Gold and REE Project in relation to existing Gold and REE Mines in the Tanami Province.

Quarterly Activities Report | March 2024 | ASX: KLI

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Figure 13. Location of Ravenswood North Gold and Copper Project in relation to existing Gold Mines in the Charter Towers Province, Queensland.

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Figure 14. Location of Mt Rawdon West Project, in relation to major gold deposits nearby, and towns.

Quarterly Activities Report | March 2024 | ASX: KLI

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Rule 5.5

Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

quarterly cash	quarterly cash	flow report	flow report
Name of entity
Killi Resources Limited
ABN		Quarter ended (“current quarter”)
74 647 332 790		31 March 2024
Consolidated statement of cash flows		Current quarter $A’000	Year to date (9 months) $A’000
1. Cash flows from operating activities 1.1 Receipts from customers 1.2 Payments for (a) exploration & evaluation (b) development (c) production (d) staff costs (e) administration and corporate costs 1.3 Dividends received (see note 3) 1.4 Interest received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Government grants and tax incentives 1.8 Other (Net GST Payments) 1.9 Net cash from / (used in) operating activities		- (83) - - (81) (73) - 2 - - - 10	- (449) - - (266) (290) - 7 - - - 60
		(225)	(938)
2. Cash flows from investing activities 2.1 Payments to acquire or for: (a) entities (b) tenements (c) property, plant and equipment (d) exploration & evaluation (e) investments (f) other non-current assets		- - - - - -	- - - - - -

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

Page 1

Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

Consolidated statement of cash flows	Current quarter $A’000	Year to date (9 months) $A’000
2.2 Proceeds from the disposal of: (a) entities (b) tenements (c) property, plant and equipment (d) investments (e) other non-current assets 2.3 Cash flows from loans to other entities 2.4 Dividends received (see note 3) 2.5 Other (provide details if material) 2.6 Net cash from / (used in) investing activities	- - - - - - - -	- - - - - - - -
	-	-
3. Cash flows from financing activities 3.1 Proceeds from issues of equity securities (excluding convertible debt securities) 3.2 Proceeds from issue of convertible debt securities 3.3 Proceeds from exercise of options 3.4 Transaction costs related to issues of equity securities or convertible debt securities 3.5 Proceeds from borrowings 3.6 Repayment of borrowings 3.7 Transaction costs related to loans and borrowings 3.8 Dividends paid 3.9 Other (provide details if material) 3.10 Net cash from / (used in) financing activities	- - - - - - - - -	- - - - - - - - -
	-	-
4. Net increase / (decrease) in cash and cash equivalents for the period
4.1 Cash and cash equivalents at beginning of period 4.2 Net cash from / (used in) operating activities (item 1.9 above) 4.3 Net cash from / (used in) investing activities (item 2.6 above) 4.4 Net cash from / (used in) financing activities (item 3.10 above)	1,065 (225) - -	1,778 (938) - -

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

Page 2

Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

Consolidated statement of cash flows	Consolidated statement of cash flows	Current quarter $A’000	Year to date (9 months) $A’000
4.5 Effect of movement in exchange rates on cash held 4.6 Cash and cash equivalents at end of period		-	-
		840	840
5. Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts		Current quarter $A’000	Previous quarter $A’000
5.1 Bank balances 5.2 Call deposits 5.3 Bank overdrafts 5.4 Other (provide details) 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above)		840 - - -	1,065 - - -
		840	1,065
6. Payments to related parties of the entity and their associates			Current quarter $A'000
6.1 Aggregate amount of payments to related parties and their associates included in item 1 39 6.2 Aggregate amount of payments to related parties and their associates included in item 2 - Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments.			39
			-
7. 7.1 7.2 7.3 7.4 7.5 7.6	Financing facilities Note: the term “facility’ includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. Total facility amount at quarter end $A’000 Amount drawn at quarter end $A’000 Loan facilities - - Credit standby arrangements - - Other (please specify) - - Total financing facilities - - Unused financing facilities available at quarter end - Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well.	Total facility amount at quarter end $A’000	Amount drawn at quarter end $A’000
		-	-
		-	-
		-	-
		-	-
	N/A

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

Page 3

Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report

8.	Estimated cash available for future operating activities	$A’000
8.1 8.2 8.3 8.4 8.5 8.6 8.7 8.8	Net cash from / (used in) operating activities (item 1.9) (225) (Payments for exploration & evaluation classified as investing activities) (item 2.1(d)) - Total relevant outgoings (item 8.1 + item 8.2) (225) Cash and cash equivalents at quarter end (item 4.6) 840 Unused finance facilities available at quarter end (item 7.5) - Total available funding (item 8.4 + item 8.5) 840 Estimated quarters of funding available (item 8.6 divided by item 8.3) 3.73 Note: if the entity has reported positive relevant outgoings (ie a net cash inflow) in item 8.3, answer item 8.7 as “N/A”. Otherwise, a figure for the estimated quarters of funding available must be included in item 8.7. If item 8.7 is less than 2 quarters, please provide answers to the following questions: 8.8.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not?	(225) - (225) 840 -
		840
	N/A
	8.8.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful?
	N/A
	8.8.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis?
	N/A
	Note: where item 8.7 is less than 2 quarters, all of questions 8.8.1, 8.8.2 and 8.8.3 above must be answered.

Compliance statement

• 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.

• 2 This statement gives a true and fair view of the matters disclosed.

Date: 29 April 2024

Authorised by: The Board of Killi Resources Limited.........................

(Name of body or officer authorising release – see note 4)

Notes

1. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity’s activities for the past quarter, how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so.

2. If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report.

ASX Listing Rules Appendix 5B (17/07/20)

Page 4

• See chapter 19 of the ASX Listing Rules for defined terms.

Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

1. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.

2. If this report has been authorised for release to the market by your board of directors, you can insert here: “By the board”. If it has been authorised for release to the market by a committee of your board of directors, you can insert here: “By the [ name of board committee – eg Audit and Risk Committee ]”. If it has been authorised for release to the market by a disclosure committee, you can insert here: “By the Disclosure Committee”.

3. If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations , the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively.

ASX Listing Rules Appendix 5B (17/07/20)

Page 5

• See chapter 19 of the ASX Listing Rules for defined terms.