KING RIVER RESOURCES LIMITED — Capital/Financing Update 2013

Dec 3, 2013

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RC DRILL ASSAY RESULTS FROM
CHAPMAN FLATS
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ASX Announcement 4 December 2013

Highlights

• Assay results confirm there are several narrow subparallel quartz-sulphide veins containing anomalous Gold, Silver and Copper within the newly discovered Chapman Fault Zone, but shallow drilling over Chapman Flats has mostly intersected non-target gabbro host rocks.

• Best drill intersection is 1 metre at 1.16g/t Au, 36g/t Ag, 0.23% Cu, 2.22% Pb, 0.12% Sb and

• 5.92% As.

• King River’s known prospective and primary target horizon (the Felsic Granophyre-Valentine Siltstone contact) appears to have been eroded away over the Chapman Flats area but is

clearly present higher at the Chapman outcrop location which is yet to be drilled.

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Figure 1: Location of the Chapman Flats, Catto and Todhunter drilling (white dots) at Speewah

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COPPER / GOLD PROJECT

King River Copper Limited (“King River” or “the Company”) (ASX: KRC) is pleased to report the final drill assay results from Chapman Flats.

This is the first of three sets of assay results planned for release over the coming weeks from areas drilled in 2013, namely Chapman Flats, Catto and Todhunter North (Figure 1). The objective of the drilling programme in 2013 has been to test for Copper / Gold mineralisation in the basement below alluvium and colluvium covered areas where soil anomalies, rubble and nearby surface outcrops, and the geophysical interpretation suggested basement targets.

Chapman Rock Chip Samples

KRC has previously reported high grade Copper up to 39% Cu, plus Gold, Silver, Lead, Arsenic and Antimony in surface rock chip samples at the Chapman prospect (see ASX announcements 4[th] and 30[th] October 2013). This announcement illustrates the various types of mineralisation seen in numerous outcrops at Chapman and the relationship between these outcrops and the few scattered outcrops and drill collar sites at Chapman Flats.

At Chapman, Copper / Gold / Silver mineralisation is found in both quartz veins (commonly with arsenopyrite) and in quartz-hematite breccias (Figure 2). The better grades are found in the quartzarsenopyrite veins with Gold, Silver, Copper, Lead, Antimony and Arsenic.

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Sample Pet0082 (Chapman Flats) Quartz-arsenopyrite vein Sample Pet0085 (Chapman) Quartz-hematite breccia
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Figure 2: Photomicrographs of quartz sulphide vein and quartz hematite breccia from outcrop samples from Chapman Flats and Chapman

Key: Q=quartz, asp=arsenopyrite, chl=Mg chlorite, hm=specular hematite, cp=chalcopyrite. Field of view 3 mm. Crossed polars. Sample locations shown in Figure 3.

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There are two main outcrop areas at Chapman with Gold, Silver and Copper results (Figure 3).

The northern zone occupies a NE trending belt of outcrops with the best results in a quartz vein with visible malachite (sample 3000277).

To the SE is a cluster of samples with very high grade such as ID3000139 with 39% Cu, 0.5g/t Au, 335g/t Ag, 1.0% Sb and 0.15% As.

Not all vein or breccia samples are mineralised, suggesting complex controls to high grade Gold / Silver / Copper mineralisation, such as fault intersections, favourable rheology contrasts involving the more brittle granophyre, or the intersection of mineralised faults with the granophyre-siltstone contact.

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Figure 3: Chapman Flats rock chip sample locations (previously reported and colour coded for maximum Gold assay) in relation to RC drillhole locations.

No drilling was undertaken at the Chapman outcrop locations in 2013 but work is planned for 2014.

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Chapman Flats Drilling Results

Reverse Circulation (“RC”) drilling at Chapman Flats was completed on 3 east-west lines and two NWSE lines, for a total of 1,364 metres in 44 holes (Figures 3 and 4). On the three EW lines the RC holes dip at 60° to the east, and in the two oblique lines the dip is 60° to the SE.

The assay results from the drilling programme are tabulated in Annexure 1.

The drill programme was designed to test an arsenic soil anomaly, some scattered surface float samples with Copper and Gold, and the inferred westward projection of mineralised outcrop areas to the east at Chapman (Figure 3).

The RC drilling at Chapman Flats has confirmed the source of the arsenic soil anomaly to be a series of arsenopyrite mineralised quartz veins in the basement gabbro carrying anomalous levels of Gold, Silver, Copper and Antimony in some veins. The quartz sulphide mineralised intervals previously reported in RC drill holes at Chapman Flats (28 October and 4 November 2013) have returned single metre sample assays of up to 1,163ppb Gold (Au), 3,025ppm Copper (Cu), 36g/t Silver (Ag), 5.92% Arsenic (As), 2.22% Lead (Pb) and 0.2% Antimony (Sb). These intersections of Gold, Silver or Copper are not economic but they have identified some consistent trends between holes.

Alteration and mineralisation in the Chapman Flats area are focused along a series of flat dipping fault zones. The hydrothermal mineral assemblages and metal associations are typical of mesothermal and epithermal Gold / Copper systems, particularly those hosted by mafic rocks. Within the mineralised and altered envelope (such as the pink zone in Figure 5), there is weak to strong quartz veining and associated sulphide mineralisation (mostly arsenopyrite, with some pyrite and chalcopyrite) and the host magnetite gabbro is demagnetised. The anomalous Gold, Copper and Silver values are localised along these horizons.

The northern oblique line of RC holes at Chapman Flats (Figures 3 and 4) was drilled at right angles to an inferred SW extension of the northern Chapman outcrops. Three of these RC holes (KCHRC42, 31 and 30) intersected weak Gold / Silver / Copper values in quartz-arsenopyrite veined gabbro forming a 4 to 20 metre thick mineralised envelope following a fracture zone dipping 30° to the NW (Figure 5). The interpretation of a SW-NE trending, flat NW dipping quartz-sulphide mineralised structure is consistent with observed dips in the outcrops to the NE, and the SW extension of the structure which can be followed to the SW in the RC drill holes (as shown by the maximum Gold plots in Figure 4) and the outcrop sample Pet82 (Figure 3).

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Figure 4: Chapman Flats drillhole locations colour coded for maximum Gold assay in a single metre sample reported in Annexure 1.

In this north eastern part of the Chapman Flats area, the Gold / Silver / Copper mineralised and quartzsulphide veined envelope has widened to 20 metres thick to the NW at depth (as seen in RC hole KCHRC42). This strengthening and thickening of the mineralised envelope provides a potential drill target deeper to the north west of drillhole KCHRC42 (see Figure 5).

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Figure 5: NW-SE cross section along RC holes KCHRC42, 31, 30, 29 and 28 at Chapman Flats (looking to the NE), showing Gold, Copper and Silver intervals as reported in Annexure 1.

RC holes KCHRC9, 38 and 39, located on the oblique line between the central and southern EW drill lines (Figures 3 and 4), intersect the SW extension of the structure illustrated in Figure 5. At this location the mineralised structure outcrops and is dipping flatly to the NW, forming a near surface altered and quartz sulphide mineralised envelope up to 7 metre thick downhole, with hole KCHRC38 reporting 7 metres at 0.61g/t Au, 8.1g/t Ag, 0.06% Cu and 2.48% As (Figure 6). This is the best Gold intersection returned from the drill programme at Chapman Flats, including a 1 metre interval assaying 1.16g/t Gold (Au), 0.3% Copper (Cu), 36g/t Silver (Ag), 5.92% Arsenic (As), 2.22% Lead (Pb) and 0.2% Antimony (Sb). This setting may be marginal to a shoot of Gold / Copper-mineralisation associated with a flexure in the mineralised horizon to a flatter dip and at a higher level in the mafic sequence.

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Figure 6: NW-SE cross section along RC holes KCHRC9, 38, 39 and 40 at Chapman Flats (looking to the NE), showing Gold, Copper and Silver intervals as reported in Annexure 1.

RC hole KCHRC16, located towards the eastern end of the southern EW drill line (Figures 3 and 4), intersected a 6 metre downhole interval of quartz sulphide mineralisation with anomalous Gold (277ppb Au), Silver (5.46g/t Ag), Copper (1387ppm Cu), Arsenic (0.54% As) and Antimony (878ppm Sb) (Annexure 1), that resembles the metal element suite of the high grade surface sample at Chapman (Figure 7).

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Figure 7: W-E cross section along RC drillholes KCHRC18 to 13 at Chapman Flats (looking to the N), showing Gold, Copper and Silver intervals as reported in Annexure 1.

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RC drilling at Chapman Flats and surface sampling at Chapman has provided some insights into the controls on Gold / Copper / Silver mineralisation at Speewah.

On a larger scale, Chapman Flats and the Chapman outcrops are localised along a major SW-NE trending and flat NW dipping fault zone (now called the Chapman Fault) that had not been mapped previously (Figure 8). The fault zone consists of a series of sub-parallel flat dipping fractures with quartz-sulphide veins carrying anomalous Gold / Silver / Copper mineralisation.

This fault zone has a strike length of 4km and in the SW truncates the northern end of the Eiffler Hill (where there are Copper and Gold occurrences) and then extends across to offset the Pentecost Fault Zone. To the NE, the Chapman Fault fails to propagate through the thick sediment sequence (siltstone and sandstone) forming a high cliff, and is interpreted to refract along the granophyre-sediment contact along the top of the Hart Dolerite.

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Figure 8: Landsat image highlighting extent of the SW-NE trending Chapman Fault zone, Chapman Flats drilling (cyan dots), and the location of Chapman sampling (yellow star).

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Within the Chapman Fault zone there are several subparallel narrow quartz-sulphide vein outcrops dipping 10° to 40° to the NW and WNW (Figure 9). These veins and their immediate wallrocks contain anomalous Gold, Silver and Copper mineralisation, with Gold showing the most consistent trends.

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Figure 9: Flat to moderate W-NW dipping flexured quartz vein in the Chapman Flats area.

3D modeling of Gold assay drill results confirms this orientation to the quartz-sulphide veins (Figure 10). The most prominent structure is the SW-NE trending fracture zone illustrated in cross section in Figure 5. This structure can be traced across all drill lines and extends to the NE in outcrop and several float and subcrops are found to the SW across the flats. In the footwall of this structure there are several flatter, W-NW dipping, subparallel quartz-sulphide veins that may splay off the main structure.

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Vertical exaggeration x2
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Figure 10: 3D model of Gold intervals >20ppb Au in drillholes showing a series of subparallel flatter W-NW dipping planes below the main SW-NE trending structure illustrated in Figure 5.

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The Chapman Fault Zone is interpreted to be the main conduit for hydrothermal fluids with better Gold / Copper / Silver grades localised in three litho-structural settings:

1. Fault intersections:

• splay intersections with the main structure, forming pencil-like shoots

• examples include the down dip extension of structure in Figure 5, the quartz vein outcrops near the collars of holes KCHRC38 and 39, and outcrop sample ID3000277 Figure 3.

2. Dip changes and/or changes in rock type (rheology)

• flexures in quartz-sulphide veins in gabbro

  • examples include drillhole KCHRC038 (Figure 6) and Figure 9.

• refraction, horsetailing and brecciation of flat quartz-sulphide veins to moderate steeper dip in more brittle magnetite bearing felsic granophyre

  • examples include the numerous scattered quartz vein and breccia outcrops with variable dips at Chapman.

• Granophyre-sediment contact (dip changes and a favourable trap site below a sealing cap)

• refraction and brecciation of quartz-sulphide veins along the contact, hosted in both the granophyre and siltstone sediment, forming mostly flat dipping bodies

  • examples include the Chapman high grade outcrop samples (such as ID3000139 Figure 3).

These three settings provide targets for future drilling illustrated in the conceptual model below.

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KRC is currently measuring the age of the igneous rocks at Speewah to help understand the origin of the Copper / Gold / Silver mineralisation and Titanium / Vanadium / Iron mineralisation. Importantly, this age dating work will provide evidence for a potential source of the Gold / Silver / Copper metals and fluids. Initial results are encouraging and will be reported later.

Catto Prospect

Catto is the second priority prospect drilled at Speewah in 2013. RC drilling of 29 holes on 4 lines (for 892 metres) tested an arsenic soil anomaly, several rubble areas with Copper and Gold mineralisation (including a previously reported float sample with 8g/t Au), a geophysical VTEM anomaly and a newly found mineralised vein outcrop just east of a VTEM anomaly.

Drill assay results and interpretation to be the subject of another release in the coming weeks.

Todhunter Prospect

Todhunter North is the third priority prospect drilled at Speewah in 2013. RC drilling of 15 holes on 2 lines (for 369 metres) tested the northern end of the large Todhunter structures under cover supported by soil Niton anomalies and a newly discovered outcrop with quartz veins with visible malachite staining. These holes are located north of the main Copper and Gold discovery (where previously reported quartz breccia gave a maximum of 3% Cu and 7g/t Gold in separate samples) and the Copper (malachite) stained cliff in the south previously reported. No drilling was undertaken in 2013 on these central and southern occurrences.

The Todhunter North drill assay results and interpretation will be the subject of another ASX release in the coming weeks.

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DIRECTORS COMMENTS

The Directors believe that 2013 has proved to be a most rewarding exploration season.

During this season geologists identified the Chapman outcrops, the Copper stained cliffs at Todhunter South and the additional weathered high grade surface Gold and Silver samples around Catto.

It is disappointing that permitting time and threatening monsoonal weather conditions made it impossible to properly test these targets over the last month.

The extensive soil sampling programs and RC drilling over Chapman Flats has materially increased the company’s knowledge of the geology, and the most likely controls over the Copper / Gold / Silver mineralisation clearly present at Speewah.

The exploration models for 2014 have now been adjusted accordingly.

It is clear from the 2013 drilling assays results that there has been a fluid conduit over the area (Chapman fault) but our shallow drilling over Chapman Flats has mostly intersected the gabbro rock units.

King River’s known prospective and primary target horizon (being the Felsic Granophyre-Valentine Siltstone contact) appears to have been eroded away over the Flats but is clearly present higher at the Chapman outcrop location.

The Company’s priority now shifts to identifying light, easily transportable drilling options to be able to best test these occurrences, as soon as practicable.

Competent Persons Statement

The information in this report that relates to Exploration Results is based on information compiled by Ken Rogers and Andrew Chapman and fairly represents this information. Mr Rogers is the Chief Geologist and an employee of the Company and a member of the Australian Institute of Geoscientists. Mr Chapman is a Consulting Geologist contracted with the Company. Mr Rogers has sufficient experience of relevance to the styles of mineralisation and the types of deposits under consideration, and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Rogers consents to the inclusion in this report of the matters based on information in the form and context in which it appears.

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254 Adelaide Tce Perth WA 6000 PO Box Z5518, Perth WA 6831

PHONE: +61 (0)8 9221 8055 FAX: +61 (0)8 9325 8088 WEB: www.kingrivercopper.com.au

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ANNEXURE 1: RC Drilling Results at Chapman Flats (>100ppb gold)

Hole ID	MGA_N	MGA_E	RL	Depth	Azimuth	Dip	From	To	Interval	Au	Ag	As	Cu	Pb	Sb
Units	m	m	m	m	°	°	m	m	m	ppb	ppm	%	ppm	ppm	ppm
KCHRC0001	8210667	390751	212	43	90	‐60	4	8	4	115	<0.05	1.06	36	71	62
		and					31	32	1	357	<0.05	4.20	9	25	110
		and					35	37	2	271	<0.05	3.48	13	82	104
		and					41	42	1	108	<0.05	0.87	42	19	40
KCHRC0002	8210666	390680	215	40	90	‐60	0	40	40	NSM
KCHRC0003	8210673	390646	217	31	90	‐60	0	31	31	NSM
KCHRC0004	8210681	390592	216	24	90	‐60	4	5	1	120	<0.05	1.01	46	59	64
KCHRC0005	8210680	390542	215	24	90	‐60	19	20	1	929	<0.05	4.31	65	19	153
KCHRC0006	8210678	390489	213	26	90	‐60	0	25	25	NSM
KCHRC0007	8210669	390446	211	21	90	‐60	0	21	21	NSM
KCHRC0008	8210668	390407	209	19	90	‐60	0	19	19	NSM
KCHRC0009	8210667	390346	208	16	90	‐60	8	12	4	100	0.44	0.56	363	‐5	38
KCHRC0010	8210677	390288	207	16	90	‐60	0	16	16	NSM
KCHRC0011	8210673	390241	206	4	90	‐60	0	4	4	NSM
KCHRC0012	8210668	390193	205	16	90	‐60	0	16	16	NSM
KCHRC0013	8210490	390873	212	19	90	‐60	0	19	19	NSM
KCHRC0014	8210492	390850	212	19	90	‐60	0	19	19	NSM
KCHRC0015	8210506	390798	213	28	90	‐60	22	23	1	162	1.16	1.53	120	19	121
KCHRC0016	8210507	390748	217	39	90	‐60	17	23	6	277	5.46	0.54	1387	12	878
		and					32	34	2	111	2.97	1.56	528	2	615
KCHRC0017	8210493	390697	216	25	90	‐60	0	25	25	NSM
KCHRC0018	8210500	390652	215	18	90	‐60	0	18	18	NSM
KCHRC0019	8210496	390600	213	18	90	‐60	0	18	18	NSM
KCHRC0020	8210503	390543	211	19	90	‐60	0	19	19	NSM
KCHRC0021	8210503	390499	209	15	90	‐60	0	15	15	NSM
KCHRC0022	8210505	390440	208	18	90	‐60	0	18	18	NSM
KCHRC0023	8210504	390403	207	13	90	‐60	0	13	13	NSM
KCHRC0024	8210499	390351	206	16	90	‐60	10	11	1	645	1.19	3.00	77	24	45
KCHRC0025	8210504	390299	206	16	90	‐60	0	16	16	NSM
KCHRC0026	8210502	390249	206	16	90	‐60	0	16	16	NSM
KCHRC0027	8210500	390201	205	16	90	‐60	0	16	16	NSM
KCHRC0028	8210713	390744	216	43	90	‐60	39	40	1	124	0.40	0.15	23	58	19
KCHRC0029	8210740	390715	217	22	90	‐60	0	22	22	NSM
KCHRC0030	8210773	390670	216	19	90	‐60	0	4	4	302	0.42	1.56	10	‐5	18
KCHRC0031	8210814	390638	215	28	90	‐60	16	17	1	1015	0.72	4.85	248	138	136
KCHRC0032	8209918	391150	228	19	90	‐60	0	19	19	NSM
KCHRC0033	8209912	391111	229	28	90	‐60	20	21	1	16	6.23	0.04	2083	‐5	162
KCHRC0034	8209916	391047	230	22	90	‐60	0	22	22	NSM
KCHRC0035	8210670	390730	216	102	90	‐60	18	19	1	109	0.77	0.67	59	11	22
		and					29	30	1	256	0.92	0.31	24	25	77
		and					41	42	1	240	0.51	0.39	62	28	32
KCHRC0036	8210683	390562	215	84	90	‐60	19	20	1	118	0.64	0.55	71	82	15
		and					40	41	1	133	0.69	0.36	95	19	56
		and					43	46	3	212	0.50	0.37	50	101	76
KCHRC0037	8210684	390514	213	84	90	‐60	23	24	1	200	1.33	0.11	192	139	95
KCHRC0038	8210611	390397	209	36	130	‐60	2	9	7	611	8.14	2.48	569	3755	226
		including					7	8	1	1163	36	5.92	2259	22169	1072
KCHRC0039	8210587	390438	209	30	120	‐60	2	3	1	969	5.26	2.02	385	70	101
KCHRC0040	8210558	390477	208	30	130	‐60	0	30	30	NSM
KCHRC0041	8210679	390628	217	96	90	‐60	79	80	1	521	0.44	0.19	104	8	61
KCHRC0042	8210857	390594	213	84	90	‐60	32	33	1	554	1.70	0.31	431	23	125
		and					39	41	2	312	0.68	0.19	49	99	28
		and					44	52	8	229	1.45	0.11	212	52	92
		and					60	61	1	223	1.11	0.29	308	89	39
KCHRC0043	8210846	390496	209	42	90	‐60	31	32	1	382	6.76	0.17	795	138	404
KCHRC0044	8210856	390352	205	30	90	‐60	0	30	30	NSM

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The following section is provided to ensure compliance with the JORC (2012) requirements for the reporting of exploration results: Section 1 Sampling Techniques and Data

Criteria	JORC Code explanation	Commentary	Commentary
Sampling	 Nature and quality of sampling (eg cut channels, random chips, or		Samples taken from Reverse Circulation Drill Rig with sample cyclone.
techniques	specific specialised industry standard measurement tools appropriate to		Samples are around 2-3kg and either splits from 1m RC drill intervals or
	the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.  Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.		composites at 2-4m dependent on geology and hole depth. Sampling was supervised by experienced geologists and duplicate samples were inserted at regular intervals (~every 25th sample), and laboratory QAQC (see Quality of assay data and laboratory tests).
	 Aspects of the determination of mineralisation that are Material to the		Supervision of sampling by experienced geologist, duplicate samples
	Public Report.		inserted at regular intervals (~every 25th sample), and laboratory QAQC
	 In cases where ‘industry standard’ work has been done this would be		(see Quality of assay data and laboratory tests).
	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.
Drilling	 Drill type (eg core, reverse circulation, open-hole hammer, rotary air		Drill type was Reverse Circulation. Holes KCHRC001 to 33 were drilled with
techniques	blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or		a small RC rig using a 3.25" diameter slim line face sampling RC hammer.
	standard tube, depth of diamond tails, face-sampling bit or other type,		Holes from KCHRC34 to 44 were drilled with a standard face sampling 4.5”
	whether core is oriented and if so, by what method, etc).		RC hammer.
Drill sample	 Method of recording and assessing core and chip sample recoveries and		Sample quality was recorded in comments on Log sheets and sample
recovery	results assessed.		sheets.
	 Measures taken to maximise sample recovery and ensure representative nature of the samples.  Whether a relationship exists between sample recovery and grade and		Sample recovery was of a high standard and little additional measures were required.
	whether sample bias may have occurred due to preferential loss/gain of
	fine/coarse material.
Logging	 Whether core and chip samples have been geologically and		All holes ‘chip trayed’ to 1 or 2m (based on geology) and geologically logged
	geotechnically logged to a level of detail to support appropriate Mineral		to 1m detail (geology, structure, alteration, veining, mineralisation).
	Resource estimation, mining studies and metallurgical studies.  Whether logging is qualitative or quantitative in nature. Core (or costean,		No photography of RC chips.
	channel, etc) photography.
	 _The total length and percentage of the relevant intersections logged. _

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Criteria	JORC Code explanation	Commentary	Commentary
Sub-sampling	 If core, whether cut or sawn and whether quarter, half or all core		Not applicable, no drill core.
techniques and sample preparation	taken.  If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.  For all sample types, the nature, quality and appropriateness of the	 	All samples dry. The sample type and method was of an excellent standard for first pass reconnaissance drilling.
	sample preparation technique.
	 Quality control procedures adopted for all sub-sampling stages to
	maximise representivity of samples.
	 Measures taken to ensure that the sampling is representative of the in
	situ material collected, including for instance results for field
	duplicate/second-half sampling.
	 Whether sample sizes are appropriate to the grain size of the material
	being sampled.
Quality of	 The nature, quality and appropriateness of the assaying and laboratory		RC samples were assayed by Quantum Analytical Services for multi-
assay data and	procedures used and whether the technique is considered partial or total.		elements using either a 4 acid Total digest followed by multi element
laboratory tests	 For geophysical tools, spectrometers, handheld XRF instruments, etc, the		analysis (Inductively coupled plasma mass spectrometry - ICPMS or
	parameters used in determining the analysis including instrument make		Inductively coupled plasma optical emission spectrometry - ICPOES
	and model, reading times, calibrations factors applied and their		analysis dependent on element being assayed for and grade ranges). Au,
	derivation, etc.		Pt and Pd processed by fire assay and analysed by mass spectrometry.
	 Nature of quality control procedures adopted (eg standards, blanks,		Laboratory QAQC procedures summary:
	duplicates, external laboratory checks) and whether acceptable levels of		o Samples were dried at 140°C and pulverised to 80% passing -75um. For
	accuracy (ie lack of bias) and precision have been established.		the fire assay (25g charge) and total acid digest (0.25g charge) jobs, a
			blank, two sample duplicates and two certified reference materials
			(CRM) are included every 50 samples. Additional international CRMs
			are run at the end of each job with the precision and accuracy of results
			maintained to Australian standards i.e. CRM results within 2% of
			nominal, duplicate results within 5% of each other.
Verification of	 The verification of significant intersections by either independent or		Sample intersections are checked by the Chief Geologist and consultant
sampling and	alternative company personnel.		geologist.
assaying	 The use of twinned holes.		Assays were reported as Excel xls files and secure pdf files.
	 Documentation of primary data, data entry procedures, data verification,		Data entry carried out by field personnel thus minimizing transcription or
	data storage (physical and electronic) protocols.		other errors. Careful field documentation procedures and rigorous database
	 Discuss any adjustment to assay data.		validation ensure that field and assay data are merged accurately.
			No adjustments are made to assay data.

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Criteria	JORC Code explanation	Commentary	Commentary
Location of	 Accuracy and quality of surveys used to locate drill holes (collar and		Holes pegged and picked up with hand held GPS (sufficient for first pass
data points	down-hole surveys), trenches, mine workings and other locations		reconnaissance drilling). End of hole down hole survey single shots
	used in Mineral Resource estimation.		were taken with an electronic multishot tool for holes of depths greater
	 Specification of the grid system used.		than 50m.
	 Quality and adequacy of topographic control.		All locations recorded in GDA94 Zone 52.
			Topographic locations interpreted from GPS pickups (barometric
			altimeter), DEMs and field observations. Adequate for first pass
			reconnaissance drilling. Labelled RL in Annexure 1.
Data spacing	 Data spacing for reporting of Exploration Results.		Sample spacing was based on expected target structure width,
and distribution	 Whether the data spacing and distribution is sufficient to establish the		transported overburden, depth of weathering, expected depth of hole
	degree of geological and grade continuity appropriate for the Mineral		penetration and sectional horizontal coverage of each hole at 60
	Resource and Ore Reserve estimation procedure(s) and		degrees dip.
	classifications applied.
	 _Whether sample compositing has been applied. _
Orientation of	 Whether the orientation of sampling achieves unbiased sampling of		Due to the shallow dip of the main mineralised trend the orientation of
data in relation to geological structure	possible structures and the extent to which this is known, considering the deposit type.  If the relationship between the drilling orientation and the orientation		drill holes is not believed to bias sampling. Geological comments in sections are provided in the announcement to put assay results in a structural context.
	of key mineralised structures is considered to have introduced a
	sampling bias, this should be assessed and reported if material.
Sample	 The measures taken to ensure sample security.		Not necessary for reconnaissance drilling. Library samples collected
security			from every metre drilled to allow resampling and further analysis where
			required during and after the wet season. Samples were securely
			packaged when transported to be assayed to ensure safe arrival at
			assay facility. Pulps are stored until final results have been fully
			interpreted.
Audits or	 The results of any audits or reviews of sampling techniques and data.		None at this stage of the exploration.
reviews

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Section 2 Reporting of Exploration Results

Criteria	JORC Code explanation	Commentary	Commentary
Mineral	 Type, reference name/number, location and ownership including		The Chapmans project is entirely within E80/3657, 100% owned by
tenement and land tenure status	agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.  The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.		Speewah Mining Pty Ltd (a wholly owned subsidiary of King River Copper Limited), located over the Speewah Dome, 100km SW of Kununurra in the NE Kimberleys. The tenements are in good standing and no known impediments exist. The National Heritage Listing area boundary passes through the Chapman Flats and Chapman area. No
			Native Title.
Exploration	 Acknowledgment and appraisal of exploration by other parties.		No previous systematic exploration has been undertaken by other parties at
done by other			the Chapmans Prospect. Surface soil sampling was undertaken by King
parties			River Copper in 2010 then named ‘Speewah Metals Limited’.
Geology	 Deposit type, geological setting and style of mineralisation.		Exploration at Chapman and Chapman Flats targeted hydrothermal gold-
			copper mineralisation on the outskirts of the Speewah Dome where the
			target horizon (felsic granophyre-siltstone contact) interacts with structural
			complexities. The drilling was at an area 100-700m west of the high grade
			copper mineralization discovered at Chapman and covered an area of
			soil/auger/rockchip arsenic anomalism in partially covered terrain and
			crossed a NE structural trend identified from field reconnaissance and
			geophysics.
Drill hole	 A summary of all information material to the understanding of the		See Annexure 1.
Information	exploration results including a tabulation of the following information for
	all Material drill holes:
	o easting and northing of the drill hole collar
	o elevation or RL (Reduced Level – elevation above sea level in metres)
	of the drill hole collar
	o dip and azimuth of the hole
	o down hole length and interception depth
	o hole length.
	 If the exclusion of this information is justified on the basis that the
	information is not Material and this exclusion does not detract from the
	understanding of the report, the Competent Person should clearly explain
	_why this is the case. _

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Criteria	JORC Code explanation	Commentary	Commentary
Data	 In reporting Exploration Results, weighting averaging techniques,		All reported assays have been length weighted. No top-cuts have been
aggregation methods	maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated.  Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.		applied. A nominal 100ppb Au lower cut-off is applied. Most intercepts reported are single metre downhole lengths. Where aggregate intercepts reported (such as in holes KCHRC001, 16, 36, 38 and 42) they include gold assays between 100 to a maximum of 1063ppb Au. In only one drillhole, KCHRC0038, was there any significant variation and is
	 The assumptions used for any reporting of metal equivalent values		reported as an including interval.
	should be clearly stated.		No metal equivalent values are used for reporting exploration results.
Relationship	 These relationships are particularly important in the reporting of		Due to the shallow dip of the main mineralised trend the orientation of drill
between	Exploration Results.		holes is not believed to bias sampling. Until further drilling is undertaken,
mineralisation widths and intercept lengths	 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		including scissor holes, the intercepts should be considered as downhole lengths and true widths are not known. Geological comments in sections are provided in the announcement to put assay results in a structural context.
	_width not known’). _
Diagrams	 Appropriate maps and sections (with scales) and tabulations of intercepts		See Figures 3, 4, 5, 6 and 7. 3D modelling has been undertaken as shown in
	should be included for any significant discovery being reported These		Figure 10.
	should include, but not be limited to a plan view of drill hole collar
	_locations and appropriate sectional views. _
Balanced	 Where comprehensive reporting of all Exploration Results is not		All results are reported for gold intercepts greater than 100ppb Au.
reporting	practicable, representative reporting of both low and high grades and/or		Drillholes that returned very low metal grades (<100ppb Au) are included in
	widths should be practiced to avoid misleading reporting of Exploration		Annexure 1 and shown as NSM (no significant mineralisation).
	_Results. _
Other	 Other exploration data, if meaningful and material, should be reported		All meaningful data has been either summarized in the text or reported in the
substantive	including (but not limited to): geological observations; geophysical survey		tables/figures.
exploration	results; geochemical survey results; bulk samples – size and method of
data	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 (eg tests for lateral		Further reconnaissance sampling and mapping is required to delineate
	extensions or depth extensions or large-scale step-out drilling).		extensions to the mineralized structures as well as identify similar prospects.
	 Diagrams clearly highlighting the areas of possible extensions, including		Further drilling will be planned to follow up on mineralised structures and test
	the main geological interpretations and future drilling areas, provided this		mineralisation where it continues into more prospective rock types or
	information is not commercially sensitive.		structural settings.