KING RIVER RESOURCES LIMITED — Capital/Financing Update 2014

Jan 1, 2014

ASX Announcement 2[nd] January 2014

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RC DRILL ASSAY RESULTS FROM
CATTO
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Highlights

• The drilling at Catto identified narrow sub parallel quartz veins containing anomalous gold.

• King River’s interpretation suggests the previously reported high grade surface samples are located at the intersection of NW dipping and NS fault structures and our primary target horizon (being the Felsic Granophyre-Valentine Siltstone contact) wasn’t fully tested in this program.

• King River's exploration model for 2014 will take into account these new geological interpretations from Chapman Flats and Catto.

• The high assaying Chapman outcrop area and copper stained cliffs at Todhunter south remain the Company’s highest priorities.

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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) reports the final drill assay results and interpretation from the Catto area in the northern part of the Speewah Dome.

This is the second set of assay results planned for release from the main areas drilled in 2013, namely Chapman Flats, Catto and Todhunter North (Figure 1). The objective of these drilling programs in 2013 was 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 potential worthwhile targets.

Catto Rock Chip Samples

KRC has previously reported high grade gold, silver and copper in surface rock chip samples at the Catto prospect (see ASX announcements 30[th] October and 4[th] and 6[th] November 2013). This announcement shows the locations of these mineralised outcrops in relation to the drill holes at Catto. There are two main sample areas at Catto where quartz-sulphide-hematite veins and breccia outcrop containing gold, silver, copper, lead, antimony and arsenic. East west fences of drill holes were aligned to test these outcrops sites (Figure 2). A summary of the previously reported high grade surface sample assays at Catto are listed below and shown on Figure 2 along with the drill hole locations.

• A group of outcrop and float samples in the SW sector, aligned along a north-south trend.

• Float sample 3000257 – 8.04g/t Au, 238g/t Ag, 0.18% Cu, 2.43% Pb, 0.78% Sb and 0.67% As

• Outcrop sample 3000421 – 0.04g/t Au, 804g/t Ag, 2.2% Cu, 2.01% Sb and 1.04% As

• Outcrop sample 3000422 – 0.006g/t Au, 242g/t Ag, 0.81% Cu, 1.11% Sb, 0.21% As

• Float sample 3000426 – 1.21g/t Au, 716g/t Ag, 1.69% Cu, 10.3% Pb, 2.08% Sb and 1.11% As

• Two outcrop samples in the NE, 100m east of a previously reported VTEM geophysical anomaly. o Outcrop sample 3000413 - 2.4g/t Au, 64g/t Ag, 1.0% Cu, 2.07% Sb

• Outcrop sample 3000416 - 2.75g/t Au, 74g/t Ag, 1.24% Cu and 2.3% Sb

Not all vein or breccia surface samples collected in the Catto area are mineralised, nor do they all contain arsenic or lead, suggesting complex controls to high grade gold / silver / copper mineralisation, such as fault intersections, favorable rheology contrasts involving the more brittle granophyre, or the intersection of mineralised faults with the granophyre-siltstone contact. Petrographic studies on surface samples at Chapman to the north (see ASX announcement 4[th] December 2013) showed two types of quartz veins and breccia – quartz veins (commonly with arsenopyrite) and quartz-hematite breccias. At Chapman, it was thought that better grades were found in the quartz-arsenopyrite veins with gold, silver, copper, silver, lead, antimony and arsenic. However, the lack of arsenic in the NE samples at Catto, which also have hematite, suggest the quartz hematite breccia and veins carry significant levels of gold, silver, copper and antimony (refer samples 3000413 and 3000416 above).

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Figure 2: Catto surface rock chip sample locations (previously reported and colour coded for maximum gold assay) in relation to RC drill hole locations also colour coded for maximum gold assay in a single metre sample reported in Annexure 1.

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Catto Drill Results

Reverse Circulation (“RC”) drilling at Catto was completed on 4 east-west lines, for a total of 770 metres in 25 holes (Figure 2). All but one hole were drilled dipping at 60° to the east. Drill hole KGRRC0016 was drilled to the west with 60° dip. Down hole depths ranged from 10 to 90 metres.

The drill assay results and drill hole parameters from the Catto program are tabulated in Annexure 1.

The drill program was designed to test an arsenic soil anomaly, several surface outcrops and float that reported high grade gold, silver and copper, and a geophysical VTEM anomaly.

The RC drilling at Catto has confirmed the source of the arsenic soil anomaly to be a series of narrow arsenopyrite mineralised quartz veins in the basement gabbro carrying anomalous levels of gold, silver, copper and antimony in some veins. However, the previously reported high grade surface sample results, with a diverse metal suite, were not intersected in this drilling, which suggests more complex controls on the origin of these high grade surface samples than originally thought. The reported intersections of gold, silver or copper are not economic but they have helped identify some potential controls to mineralisation at Catto.

The best intersection at Catto was a single metre sample assay of 1064ppb gold (Au) and 92806ppm arsenic (As) in drill hole KGRRC0001 (Figure 2), situated within a 5 metre thick down hole interval with gold anomalism from 21 to 73ppb Au. There is no significant silver, copper, lead or antimony in this interval (Annexure 1). This hole is located in the NE sector of Catto on the eastern end of the southern line nearest to the prospective granophyre-siltstone contact to the east. Further field work and drilling is required as it may be a vector to mineralisation further to the east.

KRC previously reported (4 November 2013) quartz sulphide (possible arsenopyrite) mineralised intervals in two adjacent RC drill holes at the eastern end of the northernmost line in the NE sector at Catto Figure 2). These holes (KGRRC006 and 22, Figure 2) were drilled east of the outcrop area with the two high grade samples 3000413 and 3000416 previously reported. Hole KGRRC006 drilled to the east of the outcrop intersected a 27m thick interval (from 3m to 30m down hole depth) that was quartz veined (with sulphides, possible arsenopyrite), fractured and altered. Hole KGRRC022 drilled 25m further to the east intersected 17m (from 3m to 20m down hole depth) of similar quartz veining and alteration. Assay results now received have reported a weakly gold anomalous (328ppb Au) 2 metre interval from 9 to 11m down hole depth in hole KGRRC006 with no significant silver, copper, lead, antimony or arsenic (Annexure 1). Drill hole KGRRC022 intersected only a weakly gold anomalous (879ppb Au) interval from 11 to 18 metres down hole. Hole KGRRC007 located to the west of the high grade outcrop returned no anomalous gold, silver or copper. These results suggest the mineralisation is thickening to the west below the high grade surface outcrop which may be located on a sub vertical structure missed in the drilling (see Figure 3).

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The high grade surface samples, with a more diverse metal suite including copper and antimony, have not been fully explained by these drill results and further mapping and drilling is required.

Figure 3 illustrates the section with drill holes KGRRC007, 6 and 22 and a possible explanation for the high grade surface outcrop located at the intersection of the weakly anomalous sub horizontal structure and an inferred sub vertical structure not intersected in the drilling.

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Figure 3: EW cross section along the northern line showing a sub horizontal weakly mineralised structure extending east from the very high grade surface outcrop at the intersection of an inferred vertical structure.

Two RC drill lines were completed in the SW sector at Catto targeting previously reported high grade gold, silver, copper, lead, antimony and arsenic in outcrop and float occurrences (surface samples 3000257, 3000421, 3000422 and 3000426, Figure 2) oriented along a NS trend.

On the northern line, RC holes KGRRC017 and 16 were drilled on either side and just to the south of a quartz vein outcrop (with malachite, azurite and yellow green oxides - surface sample 3000421), with a mineralised (footwall?) to the south of fractured magnetite gabbro with quartz veins (with malachite and azurite - surface sample 3000422). Field observations suggest the outcrops dip to NW. KGRRC017 and 16 were drilled to the east and west to scissor the mineralisation at depth (Figure 4). Drill assay results (Annexure 1) show that both holes missed the high grade surface mineralisation. Hole KGRRC016 has weak silver and arsenic values from 9 to 12 metres down hole in quartz veined oxidised (partly weathered) gabbro, and anomalous gold (185ppb Au) from 47-48 metres down hole finer grained gabbro with quartz veins carrying sulphide. At 14 to 15 metres down hole there is a quartz-adularia vein that does not carry any gold, silver or copper.

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Several interpretations are possible to explain the surface and drill results along this drill line. The preferred interpretation is illustrated in Figure 4, which shows the quartz-adularia vein oriented along a sub vertical fault directly below the high grade outcrop and offsetting the weakly mineralised sub horizontal structures. The intersection of the inferred sub vertical quartz-adularia vein and the nearsurface sub horizontal weakly anomalous quartz vein may explain the high grade surface result.

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Figure 4: EW cross section along the northern line in the SW sector drilling at Catto showing no intersections below the high grade surface samples located between the two scissor holes.

On the southern line, RC holes KGRRC015 and 14 were drilled on either side and just to the south of an outcrop of a quartz vein with malachite (surface sample 3000427) and a nearby outcrop of an epithermal quartz hematite breccia (surface sample 3000427 with no metal anomalism). Drill assay results reported no gold, silver, copper in either of the two holes. If this structure was dipping to the NW, then holes KGRRC015 and 14 would have missed this structure as they were quite shallow (10 and 14m).

No drilling tested the surface float sample (3000257) with 8g/t Au located mid-way between the two drill lines.

Interpretation of Catto Surface Samples and Drill Results

RC drilling and surface sampling at Chapman Flats and Chapman has shown the importance of flat NW dipping quartz-arsenopyrite veins with the best trap site for gold, silver and copper mineralisation where these veins intersect the granophyre-siltstone contact along the roof of the Speewah Dome. Drilling and surface sampling at Catto has shown there are additional controls to the high grade gold, silver and copper mineralisation at Speewah.

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An overview of the northern part of the Speewah Dome shows that both the Chapman and Catto prospects are localised along a series of SW-NE trending fault zones, referred to as the Chapman Fault Zone and Catto Fault Zone on Figure 5.

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Figure 5: Landsat image highlighting extent of the SW-NE trending Catto Fault zone, Catto drilling (coloured dots), and the location of Catto surface sampling (yellow stars).

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All the main high grade gold / silver / copper occurrences (Chapman, Catto, Greys, Hayden, Gap, Eiffler and Eiffler North) align along these structural corridors. The fault zones consist of a series of sub-parallel flat dipping (sub horizontal) fractures with quartz-sulphide veins and breccia carrying anomalous gold-silver-copper mineralisation, occasionally with lead and antimony, and nearly always arsenic. However, not all the vein and breccia structures are mineralised and high grade with a diverse metal suite (gold, silver, copper, lead, antimony and arsenic) is thought to have other controls.

Surface sampling and mapping have identified some outcrops with NS strike (such as Pet82, a quartzarsenopyrite vein with gold, at Chapman Flats, Figure 2, KRC ASX announcement 4[th] December 2013). At Greys, south of Catto, there is also a NS trend to the high grade outcrop. Elsewhere in the Speewah Dome there are numerous outcrops of north-south sub vertical epithermal quartz-adularia veins (from less than 1 metre to 10 metres thick in outcrop). Analysis of the Landsat TM image shows a series of NS trends, steps and offsets, with some of the best high grade surface sample sites located on these trends and at the intersection of the sub horizontal and NW dipping structural zones (Figure 5). This model would create a series of pencil shaped shoots plunging to the north along the intersection lineation.

The mapping and drilling results at Chapman and Catto have extended the various settings to include the importance of sub vertical quartz veined structures which provides additional gold-silver-copper targets for future drilling illustrated in the conceptual model below.

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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.

DIRECTOR’S COMMENTS

The Directors note that first pass Catto drilling did not intersect the source mineralisation that would have explained the very high grade assays and attractive metal suite obtained from surface sampling.

It appears that the geological controls over the copper-gold-silver mineralisation are slightly more complex than originally thought. Even though there is clear evidence of mineralisation within the area drilled, the most prospective primary target horizon (the Felsic Granophyre-Valentine Siltstone contact) was not intersected. As a result, the exploration model for 2014 in the Catto area is being refined and drilling is planned to take place further to the east to identify that contact.

The Company’s priority has shifted to expedite the recommencement of drilling as soon as practicable and is investigating light and easily transportable diamond drilling rig options which would enable an earlier start to drilling.

The Director’s confirm that the recent discoveries of the high assaying Chapman outcrop area and the copper stained cliffs at Todhunter South remain the Company’s highest priority targets.

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.

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 Catto (>100ppb gold)

Hole ID	MGA_N	MGA_E	RL	Depth	Azimuth	Dip	From	To	Interval	Au	Ag	Cu	Pb	Sb	As
Units	m	m	m	m	°	°	m	m	m	ppb	ppm	ppm	ppm	ppm	ppm
KGRRC0001	8207500	391550	224.3	31	90	‐60	15	16	1	1064	0.86	74	14	49	92806
KGRRC0002	8207500	391500	222.8	25	90	‐60	8	12	4	148	0.65	228	‐5	10	15843
KGRRC0003	8207500	391450	219.6	22	90	‐60	0	22		NSM
KGRRC0004	8207500	391400	216.5	19	90	‐60	0	19		NSM
KGRRC0005	8207500	391350	215.8	22	90	‐60	0	22		NSM
KGRRC0006	8207739	391625	233.2	46	90	‐60	9	10	1	314	0.11	119	‐5	2	310
KGRRC0006	8207739	391625	233.2	46	90	‐60	10	11	1	342	0.32	526	‐5	5	840
KGRRC0007	8207730	391575	226.1	31	90	‐60	0	31		NSM
KGRRC0008	8207726	391525	224.3	28	90	‐60	0	28		NSM
KGRRC0009	8207727	391475	220.5	29	90	‐60	0	29		NSM
KGRRC0010	8207731	391425	219.4	19	90	‐60	0	19		NSM
KGRRC0011	8207047	391199	216.2	13	90	‐60	0	13		NSM
KGRRC0012	8207044	391150	213.2	21	90	‐60	0	21		NSM
KGRRC0013	8207046	391100	216.6	18	90	‐60	0	18		NSM
KGRRC0014	8207051	391050	216.2	14	90	‐60	0	14		NSM
KGRRC0015	8207051	391000	214.9	10	90	‐60	0	10		NSM
KGRRC0016	8207168	391048	211.5	54	270	‐60	47	48	1	185	1.41	318	37	130	1387
KGRRC0017	8207163	391023	213.2	36	90	‐60	0	36		NSM
KGRRC0018	8207157	390991	213.5	27	90	‐60	0	27		NSM
KGRRC0019	8207165	391169	214.1	30	90	‐60	0	30		NSM
KGRRC0020	8207161	391117	213.3	30	90	‐60	0	30		NSM
KGRRC0021	8207165	391074	214.5	36	90	‐60	0	36		NSM
KGRRC0022	8207748	391667	238.7	90	90	‐60	0	90		NSM
KGRRC0023	8207670	391755	254.5	36	90	‐60	0	36		NSM
KGRRC0024	8207663	391746	254.5	38	90	‐60	0	38		NSM
KGRRC0025	8207672	391667	234.0	45	90	‐60	35	36	1	145	0.18	239	3	33	5376
KGRRC0025	8207672	391667	234.0	45	90	‐60	36	37	1	167	0.42	386	12	25	4855

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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 (e.g. cut channels, random chips, or specific		Samples taken from Reverse Circulation Drill Rig with
techniques	specialised industry standard measurement tools appropriate to the		sample cyclone. Samples are around 2-3kg and either
	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.  Aspects of the determination of mineralisation that are Material to the		splits from 1m RC drill intervals or 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
	Public Report.		and laboratory tests).
	 In cases where ‘industry standard’ work has been done this would be		Supervision of sampling by experienced geologist,
	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		duplicate samples inserted at regular intervals (~every 25th sample), and laboratory QAQC (see Quality of assay data and laboratory tests).
	commodities or mineralisation types (e.g. submarine nodules) may warrant
	disclosure of detailed information.
Drilling	 Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast,		Drill type was Reverse Circulation. Holes KGRRC001 to
techniques	auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or		15 and KGRRC023 to 25 were drilled with a small RC rig
	standard tube, depth of diamond tails, face-sampling bit or other type,		using a 3.25" diameter slim line face sampling RC hammer.
	whether core is oriented and if so, by what method, etc.).		Holes KGRRC016 to 22 were drilled with a standard face
			sampling4.5” RC hammer.
Drill sample	 Method of recording and assessing core and chip sample recoveries and		Sample quality was recorded in comments on Log sheets
recovery	results assessed.		and sample 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 geotechnically		All holes ‘chip trayed’ to 1 or 2m (based on geology) and
	logged to a level of detail to support appropriate Mineral Resource		geologically logged to 1m detail (geology, structure,
	estimation, mining studies and metallurgical studies.  Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography.		alteration, veining, and mineralisation). No photography of RC chips.
	 The total length andpercentage 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 taken.		Not applicable, no drill core.
techniques and sample preparation	 If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry.  For all sample types, the nature, quality and appropriateness of the sample preparation technique.	 	All samples dry. The sample type and method was of an excellent standard for first pass reconnaissance drilling.
	 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
assay data	procedures used and whether the technique is considered partial or total.		for multi-elements using either a 4 acid Total digest followed
and	 For geophysical tools, spectrometers, handheld XRF instruments, etc., the		by multi element analysis (Inductively coupled plasma mass
laboratory	parameters used in determining the analysis including instrument make and		spectrometry - ICPMS or Inductively coupled plasma optical
tests	model, reading times, calibrations factors applied and their derivation, etc.		emission spectrometry - ICPOES analysis dependent on
	 Nature of quality control procedures adopted (e.g. standards, blanks,		element being assayed for and grade ranges). Au, Pt and Pd
	duplicates, external laboratory checks) and whether acceptable levels of		processed by fire assay and analysed by mass spectrometry.
	accuracy (i.e. lack of bias) and precision have been established.		Laboratory QAQC procedures summary:
			o Samples were dried at 140°C and pulverised to 80%
			passing -75um. For 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
			resultswithin5% ofeachother.
Verification of	 The verification of significant intersections by either independent or alternative		Sample intersections are checked by the Chief Geologist and
sampling and	company personnel.		consultant 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		Data entry carried out by field personnel thus minimizing
	storage (physical and electronic) protocols.		transcription or other errors. Careful field documentation
	 Discuss any adjustment to assay data.		procedures and rigorous database 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 down-		Holes pegged and picked up with hand held GPS
data points	hole surveys), trenches, mine workings and other locations used in Mineral		(sufficient for first pass reconnaissance drilling). End of
	Resource estimation.		hole down hole survey single shots were taken with an
	 Specification of the grid system used.		electronic multishot tool for holes of depths greater than
	 Quality and adequacy of topographic control.		50m.
			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
and	 Whether the data spacing and distribution is sufficient to establish the		width, transported overburden, depth of weathering,
distribution	degree of geological and grade continuity appropriate for the Mineral		expected depth of hole penetration and sectional horizontal
	Resource and Ore Reserve estimation procedure(s) and classifications		coverage of each hole at 60 degrees dip.
	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
data in	possible structures and the extent to which this is known, considering the		orientation of drill holes is not believed to bias sampling.
relation to	deposit type.		Geological comments in sections are provided in the
geological	 If the relationship between the drilling orientation and the orientation of key		announcement to put assay results in a structural context.
structure	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
security			collected 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 agreements		The Chapman project is entirely within E80/2863, 100%
tenement and	or material issues with third parties such as joint ventures, partnerships,		owned by Speewah Mining Pty Ltd (a wholly owned subsidiary
land tenure status	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.		of King River Copper Limited), located over the Speewah Dome, 100km SW of Kununurra in the NE Kimberley. The tenements are in good standing and no known impediments exist. It is outside the National Heritage Listing area. No
			Native Title.
Exploration	 Acknowledgment and appraisal of exploration by other parties.		No previous systematic exploration has been undertaken by
done by other			other parties at the Catto Prospect. Surface soil sampling was
parties			undertaken by King River Copper in 2010 then named
			‘Speewah MetalsLimited’.
Geology	 Deposit type, geological setting and style of mineralisation.		Exploration at Catto 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 of recent surface sampling which returned high grade
			gold and copper mineralization (and is located 700m north of
			the Greys prospect where historical surface sampling returned
			high grade gold and copper mineralization), and also covered
			an area of soil/auger/rock chip arsenic anomalism in partially
			covered terrain and crossed NE and NS structural trends
			identified from field reconnaissance andgeophysics.
Drill hole	 A summary of all information material to the understanding of the exploration		See Annexure 1.
Information	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, maximum		All reported assays have been length weighted. No top-cuts
aggregation	and/or minimum grade truncations (e.g. cutting of high grades) and cut-off		have been applied. A nominal 100ppb Au lower cut-off is
methods	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. Most intercepts reported are single metre down hole lengths. Where aggregate intercepts reported (such as in holes KGRRC006 and 25) they include gold assays between 100 to
	 The assumptions used for any reporting of metal equivalent values should be		a maximum of 1064ppb Au.
	clearly stated.		No metal equivalent values are used for reporting exploration
			results.
Relationship	 These relationships are particularly important in the reporting of Exploration		Due to the shallow dip of the main mineralised trend the
between	Results.		orientation of drill holes is not believed to bias sampling. Until
mineralisation	 If the geometry of the mineralisation with respect to the drill hole angle is		further drilling is undertaken, including scissor holes, the
widths and	known, its nature should be reported.		intercepts should be considered as down hole lengths and true
intercept lengths	 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’).		widths are not known. Geological comments in sections are provided in the announcement to put assay results in a structural context.
Diagrams	 Appropriate maps and sections (with scales) and tabulations of intercepts		See Figures 2, 3 and 4.
	should be included for any significant discovery being reported These should
	include, but not be limited to a plan view of drill hole collar locations and
	_appropriate sectional views. _
Balanced	 Where comprehensive reporting of all Exploration Results is not practicable,		All results are reported for gold intercepts greater than 100ppb
reporting	representative reporting of both low and high grades and/or widths should be		Au.
	practiced to avoid misleading reporting of Exploration Results.		Drill holes that returned very low metal grades (<100ppb Au)
			are included in Annexure 1 and shown as NSM (no significant
			mineralisation).
Other	 Other exploration data, if meaningful and material, should be reported including		All meaningful data has been either summarized in the text or
substantive	(but not limited to): geological observations; geophysical survey results;		reported in the tables/figures.
exploration	geochemical survey results; bulk samples – size and method of treatment;
data	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 (e.g. tests for lateral extensions		Further reconnaissance sampling and mapping is required to
	or depth extensions or large-scale step-out drilling).		delineate extensions to the mineralized structures as well as
	 Diagrams clearly highlighting the areas of possible extensions, including the		identify similar prospects. Further drilling will be planned to
	main geological interpretations and future drilling areas, provided this		follow up on mineralised structures and test mineralisation
	information is not commercially sensitive.		where it continues into more prospective rock types or
			structural settings.