KING RIVER RESOURCES LIMITED — Capital/Financing Update 2016

Jun 6, 2016

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E XPLORATION U PDATE
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ASX Announcement 7[th] June 2016

HIGHLIGHTS

• Field programmes commenced at Speewah with road works and sampling underway.

• A recent field trip and new desktop studies have identified new structures for detailed investigation.

• A new geophysical (VTEM) basement conductor target identified in the north of the Speewah Dome.

• The Mt Remarkable statutory application process is underway and on schedule, with access anticipated late in the 2016 exploration season.

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Figure 1: Location of Speewah and Mt Remarkable projects.

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Technical Review and Field Inspection

Field work and a detailed technical analysis of all the Speewah Dome data, aided by a consultant with a most accomplished career in Australian epithermal gold discovery, resulted in the following key findings:

• Speewah quartz veins are epithermal, with affinities towards the Au-Ag-base metal (Cu dominant) variety, possibly with a porphyry copper link.

• Most of the known surface quartz veins along the north-south faults in the centre of the dome (Figure 2) are generally too deep in the epithermal system, mostly below the gold and base metal zones.

• The most prospective areas for King River Copper Ltd (“KRC”) to now refocus on will be thick zones of finer grained and crustiform/colloform banded higher level quartz veins with sulphides, in areas of more focussed fluid flow, necessary for the formation of Au-Ag-base metal deposits. These settings may be developed as the dome was unroofed due to rapid erosion.

• Veins should be analysed for grain size and texture to establish the relative depth in the epithermal system. Some quartz vein textures found at Speewah are shown in Figure 3.

• Sampling should focus on Au, Ag and Cu geochemistry and pathfinder elements Sb Te Hg Pb Zn Bi.

• Target demagnetised zones on favourable structures (bends, splays, intersections, jogs).

• Broad lithoclastic breccias and felsic porphyry intrusions may be sites of more focussed fluid flow.

Priority Targets

KRC will continue to explore for epithermal gold mineralisation with targets at both the deeper ‘base metal – gold zone’ and the shallower ‘bonanza gold style’ settings of its epithermal gold model.

Multiple phases of deformation and mineralisation give Speewah a range of different exploration targets and opportunities.

New priority targets (shown in Figure 2) will include:

• Eastern flank of the dome where higher level epithermal quartz veins prospective for gold may have formed and been preserved at higher elevation (dominant gold boiling zone).

• More lateral positions within the dome show evidence of fine grained crustiform and colloform banded quartz in localised settings and narrow veins (East Fault and Far East Fault).

• Localised settings or shoots along the central north-south faults where the deeper vein and breccia types have been overprinted by more prospective finer grained and crustiform/colloform banded higher level quartz veins with sulphides, prospective for gold, silver and base metals. Sites with mineralisation and others considered prospective (Figure 2) include:

• Site 4 epithermal vein shoot on an oblique fault at Splays on the Central Fault Zone. A previous sample from this site assayed 0.98% Cu and 38g/t Ag (KRC ASX: 29/1/16). Figure 4 is a sample from this site showing possible tetrahedrite and malachite in bands between crustiform quartz.

• Central North where surface sampling reported 0.72g/t Au and 143g/t Au with 3.59% Cu in two samples 270m apart (KRC ASX: 2/11/15). Figure 5 is a sample from the 0.72g/t Au site.

• These and other sites along the long Central Fault Zone structure require prospecting and drilling may intersect thicker zones along strike and at depth.

• Broad hydrothermal lithoclastic- and gabbro-breccias intersected at depth in core drilling along the Central Fault Zone at Horseshoe (SDH10-06), Willmott (SDH10-04/05), Yungul (SDH10-03) and Yungul South (SDH11-4) may be zones of more intense and focused fluid flow. Shallow RC drilling with anomalous Cu-Au-Ag above these zones may indicate better mineralisation at depth, such as in KRRC134 at Horseshoe with 1m @ 1.5% Cu (KRC ASX: 29/1/16).

• A bend north of Site 6 on the East Fault Zone requires sampling for wider and mineralised zones, and other sites may exist further north along the structure that requires prospecting.

• Similarly, the Far East north-south vein (and associated east-west trends) requires prospecting as it has only been examined at Site 9.

• High grade copper±silver±gold±antimony±lead mineralisation is found on east-west trending quartz veins and resembles the base metal epithermal zone. Interestingly, a similar EW trend is associated with high grade epithermal gold mineralisation at KRC’s Remarkable project 80km to the south.

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• High grade veins, breccias and gossans in surface samples at Chapman (Figure 6), Greys, Catto, Hayden and Gap (Figure 2). These veins require investigation, including their strike and dip, demagnetised host lithology, associated phengite altered quartz rich felsic intrusives, and timing of north-south fault breccias, quartz-adularia veins and quartz-arsenopyrite veins.

• High grade at Copper Cliff on narrow east-west veins in the area of the previous 21g/t Au Pb rich site (KRC ASX: 5/8/14). These veins may thicken at three possible north-south fault intersections interpreted from magnetic studies. Recent petrography reports gold and electrum (Figure 7).

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Figure 2: Target map of Speewah Dome. Surface VTEM anomaly grey, conductor plates red/yellow.

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a b
c d
e f
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Figure 3: Some epithermal quartz vein textures at Speewah. a) finer grained crystalline quartz crustiform texture with dark possible sulphide bands and vugs above cryptocrystalline massive to weakly banded quartz;

• b) colloform banded silica with possible oxidised sulphide bands, some comb quartz;

c) crustiform textured vein (white zones fine to coarse grained quartz, darker bands adularia), typical of deep epithermal vein textures;

d) crustiform banded vein comprising alternating bands of milky to clear medium to coarse grained quartz and pink K-feldspar (adularia);

• e) pseudo lattice quartz texture indicative of semi-massive carbonate replacement along cleavages;

• f) lattice texture indicative of replacement of carbonate blades resembling Pajingo Vera -Nancy examples.

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Figure 4: Surface sample from Site 4 Splays (Shoot 4) of coarse-grained crustiform quartz with bands of sulphide (malachite and possible tetrahedrite).

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Figure 5: Surface sample from Central North of quartz breccia and saccharoidal quartz with

sulphides.

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Figure 6: Chapman surface sample types. Clockwise – white vein quartz; gossan of brochantite (copper sulphate), goethite and quartz vugs; vein breccia with crustiform quartz and copper sulphides and malachite between fragments; and banded vein quartz and sulphides. Scale bar in centimetres.

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Figure 7: Photomicrograph of brecciated and fractured sulphidic quartz vein sample recently collected south of Copper Cliff 21g/t Au site showing gold in goethite (ex pyrite?) and electrum in quartz.

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Programmes Underway

Roadworks are now underway after the heavy rains early in May.

KRC has purchased 2 containerised sheds for a field base camp and a rock/core cutting saw. This will anchor essential infrastructure and provide a more practical and efficient field office.

KRC has started to build the geological team with Mr Steve Wood assisting with cutting and cataloging the samples collected during the recent field trip and select samples for assay and petrography. These cut and slabbed samples will better expose the diagnostic epithermal textures that KRC will use in the future in the field.

Resource Potentials (“ResPot”), a geophysical consultancy engaged by KRC, is currently examining a large VTEM anomaly north of Chapman for basement conductors and surface IP effects. This anomaly follows a north-south trend between two regional NNE trending faults. Modelling by ResPot suggest the early time channel anomaly (grey body in Figure 2 and white in Figure 8) is due to surface cover or clay alteration. Late time deeper basement conductor type anomalies have been modelled, in particular a steeply east dipping weak conductor plate over 1km long in the north (red bar in Figures 2 and 8) and several flat east dipping plates (yellow bars in Figure 2 and blue in Figure 8). The northern steep dipping EM anomaly has been modelled starting at 100m depth and is a significant new drill target for KRC.

ResPot have also compiled and re-processed magnetic, dtm and Aster datasets used in targeting eastwest veins/faults within the dome.

Field sampling of the Splays Target and the VTEM target north of Chapman is underway.

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Figure 8: VTEM anomaly and conductor plates in northern Speewah Dome.

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Programmes Planned

Rock chip sampling along the north-south trending Central, East and Far East structures will be targeting favourable vein types (fine grained crustiform and colloform, with fine sulphide bands), and Au/Ag/Cu geochemistry. All the north-south vein structures will be examined, especially demagnetised zones and changes in direction/bends, the east-west trends from satellite photography, and the higher level east dome stratigraphy.

Planning of an early phase of shallow RC holes is underway. Drill targets include veins at Site 4 (the Splays target looks like an untested opportunity with Shoot 4 on a jog in the Central Fault Zone ) and Site 6, shallow GAIP anomalies at Chapman West and Catto, east-west trends at Chapman (where evidence for high grade copper-gold-silver on east-west veins, with similar controls at Copper Cliff have been identified) including re-drill KCHD08, anomalous drill intersections at Chapman West, the northern VTEM anomaly, and some strong east-west trends identified from magnetics and the digital terrain model. Previous KRC drilling and geophysical surveys were completed on east-west traverses which are not the optimum direction to test these high grade gold-silver-copper zones.

Also the thick lithoclastic breccia and gabbro veining/breccia along the Central Fault may host significant untested epithermal veins at depth as observed in SDH10-03.

Mt Remarkable

Speewah Mining Pty Ltd, the wholly owned subsidiary of King River Copper Limited, secured the Mt Remarkable Exploration Licence application ELA80/5007, located 80km south of Speewah (Figure 1).

The tenement is progressing through the statutory approval process and is currently in a four month Native Title advertising period ending 18[th] September 2016. In the interim, the historic data is being compiled to plan a new drill programme.

Corporate & Financing

The Board of KRC has been advised that an R&D rebate of ~$300,000 is expected to be received late June 2016.

As a consequence, the planned capital raising in the June quarter has been deferred until greater detail can be provided to shareholders on the new drill targets.

The cost of the first drill program has been budgeted at between $350,000 to $400,000.

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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Appendix 1: King River Copper Limited Speewah Project JORC 2012 Table 1

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 - SPEEWAH RC AND SURFACE SAMPLING PROGRAMME

Criteria	JORC Code explanation	Commentary
Sampling Techniques	 Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling.  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 Public Report.  In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types(e.g. submarine nodules) may warrant disclosure of detailed information.	 Samples taken from Reverse Circulation Drill Rig with sample cyclone. Samples are around 2-3kg and either 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 and laboratory tests).  Supervision of sampling by experienced geologist, duplicate samples inserted at regular intervals (~every 25th sample), and laboratory QAQC (see Quality of assay data and laboratory tests).  Surface rock chip samples taken from outcrops or float.
Drilling techniques	 Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if _so, by what method, etc.). _	 Drill type was Reverse Circulation. Holes were drilled with a standard face sampling 5.5” RC hammer.
Drill sample recovery	 Method of recording and assessing core and chip sample recoveries and results assessed.  Measures taken to maximise sample recovery and ensure representative nature of the samples.  Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	 Sample quality was recorded in comments on Log sheets and sample sheets.  Sample recovery was of a high standard and little additional measures were required.
Logging	 Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.  Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography.  The total length andpercentage of the relevant intersections logged.	 All holes ‘chip trayed’ to 1 or 2m (based on geology) and geologically logged to 1m detail (geology, structure, alteration, veining, and mineralisation).  No photography of RC chips.

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Sub-sampling techniques and sample preparation	 If core, whether cut or sawn and whether quarter, half or all core 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 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.	 Not applicable, no drill core.  All samples dry.  The sample type and method was of an excellent standard for first pass reconnaissance drilling.
Quality of assay data and laboratory tests	 The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.  For geophysical tools, spectrometers, handheld XRF instruments, etc., the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.  Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.	 RC and rock chip samples assayed by ALS Laboratory for multi-elements using either a four acid digest followed by multi element analysis with ICP- AES (Inductively coupled plasma atomic emission spectroscopy) or ICP-MS (Inductively coupled plasma mass spectrometry) analysis dependent on element being assayed for and grade ranges). Au, Pt and Pd processed by fire assay and analysis with ICP-AES.  Laboratory QAQC procedures summary: oFollowing drying of samples at 85°C in a fan forced gas oven, material <3kg was pulverised to 85% passing 75µm in a LM-5 with samples >3kg passing through a 50:50 riffle split prior to pulverisation. Fire assay was undertaken on a 30g charge using lead flux Ag collector fire assay with aqua regia digestion and ICP-AES finish. Multiple element methodology was completed on a 0.25g using a combination of four acids including hydrofluoric acid for near total digestion. Determination was undertaken with a combination of ICP-AES and ICP-MS instrumentation. QC lots vary by method, but for fire assay a run of 78 client samples includes a minimum of one method blank, two certified reference materials (CRMs) and three duplicates. For the multi-element method, a QC lot consists of up to 35 client samples with a minimum of one method blank, two CRMs and two duplicates. The analytical facility is certified to a minimum of ISO 9001:2008.
Verification of sampling and assaying	 The verification of significant intersections by either independent or alternative company personnel.  The use of twinned holes.  Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.  Discuss any adjustment to assay data.	 Significant sample intersections are checked by the Chief Geologist and consultant geologist.  Assays to be reported as Excel xls files and secure pdf files.  Data entry carried out by field personnel thus minimizing transcription or other errors. Careful field documentation 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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Location of data points	 Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.  Specification of the grid system used.  Quality and adequacy of topographic control.	 Holes pegged and picked up with hand held GPS (sufficient for first pass reconnaissance drilling). End of hole down hole survey single shots were taken with an electronic multishot tool for holes of depths greater than 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 Table 1.
Data spacing and distribution	 Data spacing for reporting of Exploration Results.  Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.  Whether sample compositing has been applied.	 Sample spacing was based on expected target structure width, transported overburden, depth of weathering, expected depth of hole penetration and sectional horizontal coverage of each hole at 60 degrees dip.  Surface rock chip samples taken of areas with visible alteration or mineralisation.
Orientation of data in relation to geological structure	 Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.  If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	 Due to the shallow dip of the main mineralised trend the orientation of 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.
Sample security	 The measures taken to ensure sample security.	 Not necessary for reconnaissance drilling. Library samples 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 fullyinterpreted.
Audits or Reviews	 The results of ay audits or reviews of sampling techniques and data.	 None at this stage of the exploration.

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SECTION 2 : REPORTING OF EXPLORATION RESULTS - SPEEWAH RC PROGRAMME

Criteria	JORC Code explanation	Commentary
Mineral tenement and land tenure status	 Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.  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.	 The Speewah prospects reported in this announcement are entirely within E80/2863, E80/3657 andE80/4468, 100% owned by 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 Kimberley. The tenements are in good standing and no known impediments exist. No Native Title Claim covers the areas sampled and drilled. The northern part of Chapman is in the KimberleyHeritage Area.
Exploration done by other parties	 Acknowledgment and appraisal of exploration by other parties.	 Prior work carried out by Elmina NL in the Windsor area included rock chip sampling and RC and DC drilling to delineate the ABC fluorite deposit in 1988-1993.
Geology	 Deposit type, geological setting and style of mineralisation.	 Exploration is targeting hydrothermal gold-silver-copper mineralisation within the Speewah Dome where the target horizon (felsic granophyre-siltstone contact) interacts with structural complexities.
Drill hole Information	 A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:  easting and northing of the drill hole collar  elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar  dip and azimuth of the hole  down hole length and interception depth  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.	 See Figures 1 to 8.
Data aggregation methods	 In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated.  Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.  The assumptions used for any reporting of metal equivalent values should be clearly stated.	 All reported assays have been for each assayed metre, and no length or bulk density weights or top-cuts have been applied.  No metal equivalent values have been used for reporting exploration results.

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Relationship between mineralisation widths and intercept lengths	 These relationships are particularly important in the reporting of Exploration Results.  If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.  If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’).	 Due to the shallow dip of the main mineralised trend the orientation of drill holes is not believed to bias sampling. Geological comments in provided in the announcement to put assay results in a structural context.
Diagrams	 Appropriate maps and sections (with scales) and tabulations of intercepts 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.	 See Figures 1 to 8.
Balanced reporting	 Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	 Not required at this stage.
Other substantive exploration data	 Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	 KRC (previously called NiPlats Australia Ltd, then Speewah Metals Limited) has completed reconnaissance and stratigraphic RC and DC drilling, soil and rock chip sampling, A VTEM survey, and acquisition of 100m line spacing magnetic and radiometric data over the Speewah Dome including the Windsor and Chapman-Greys areas. Anomalous surface copper and gold and drill intercepts have beenpreviouslyreported.
Further work	 The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling).  Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	 An extensive review of the epithermal systems at Speewah is currently underway. Further RC drilling is planned to target opportunities identified by this review. Further reconnaissance exploration is planned to identify new target areas on known structures and also to discover new epithermal veins.

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Appendix 2: King River Copper Limited Mt Remarkable Prospect JORC 2012 Table 1

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
Sampling Techniques	 Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling.  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 Public Report.  In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types(e.g. submarine nodules) may warrant disclosure of detailed information.	 Drill and assay data for historical drilling was sourced from annual mineral exploration reports downloaded through WAMEX and historical quarterly activity reports submitted to ASX by Northern Star Resources Ltd. Historical licences were E80/2427 and E80/4001  For historical holes (WRC-001 – WRC-026) initial sample taken by spear with all significant results later riffle split.  For historical holes (08WRC059-08WRC088) 3-5kg 1m samples taken direct from static cone splitter or 4m comps taken by spearing 1m samples. Field standards and duplicates inserted at regular intervals.  No details on sampling are available on historical RC holes WRC027 – WRC058 or diamond core holes WCD01-02.
Drilling techniques	 Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc.).	 Drill type was Reverse Circulation (RC) and Diamond Core (DC).  RC holes were drilled with a standard face sampling 5.5” RC hammer.  RC holes (WRC-001 – WRC-026) was drilled by Grovebrook Drilling using a GMC 150 rig mounted on a Mercedes Benz 4x4 model 1750l Unimog with a Ingersoll- Rand model HR 825cfm @ 400psi two stage rotary screw compressor and KL150 twin speed head with 3.5 inch rods. RC holes (08WRC059-08WRC088) was drilled by Ranger Drilling Services Pty Ltd, using a HYDCO 350 with a Cummins KTTA19 750 horsepower @ 2100 rpm rig engine. A Sullair Oil Flooded Rotary Screw - Two Stage Compressor was used (1150 cfm @ 500 psi at 2100 rpm with Air Research 1800cfm @ 800psi Booster mounted on board rig).  DC holes(NQ)were drilled byOrbit Drillingusinga Toyota Landcruiser mounted rig.
Drill sample recovery	 Method of recording and assessing core and chip sample recoveries and results assessed.  Measures taken to maximise sample recovery and ensure representative nature of the samples.  Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material	 Sample quality of historical data is unknown however all quoted data has been checked against previous ASX reported tables and intersects by experienced KRC geologists. ASX and departmental reports were of a high standard demonstrating Northern Stars professional standards.

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Logging	 Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.  Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography.  The total length andpercentage of the relevant intersections logged.	 Holes were geologically logged. KRC will make enquiries as to whether any historic chip trays were kept/stored.
Sub-sampling techniques and sample preparation	 If core, whether cut or sawn and whether quarter, half or all core 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 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 thegrain size of the material being sampled.	 KRC will make enquiries as to whether any historic chip trays/diamond trays were kept/stored.  The sample type and method was of a high standard, and all data was checked against previously reported ASX announcements.
Quality of assay data and laboratory tests	 The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.  For geophysical tools, spectrometers, handheld XRF instruments, etc., the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.  Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.	 Historical holes (WRC-001 – WRC-032) 1 metre samples analysed using 50g lead collection with ICP Optical (Atomic) Emission.  Historical holes (WRD-001 – WRD-002) Samples analysed using 50g lead collection fire assay and analysed by flame Atomic Absorption Spectrometry and 25 gram Aqua-Regia digest and finished with Enhanced Inductively Coupled Plasma Optical (Atomic) Emission.  Historical holes (WRC-033 – WRC-058) 1 metre samples analysed using 40g Aqua Regia digest with ICP Mass Spectrometry  Historical holes (08WRC059-08WRC088) At Ultra Trace, samples were sorted, dried to 45 degrees only (so Hg was not vaporised) and split where necessary then pulverised in a vibrating disc pulveriser. Au, Pt, Pd were analysed by firing a 40gm (approximate) portion of the sample. The samples were also digested and refluxed with a mixture of acids including Hydrofluoric, Nitric, Hydrochloric and Perchloric acids. To test for Hg, the samples were also digested with Aqua Regia. This partial digest is extremely efficient for extraction of gold. Sr, Rb, As, Ag, Pb, Ba, W, U, Mo, Th, Bi, Sb, Tl, Te and Hg were determined by ICPMS and Au, Pt, Pd, Cu, Fe, Mn, S, Zn,K byICPOES.
Verification of sampling and assaying	 The verification of significant intersections by either independent or alternative company personnel.  The use of twinned holes.  Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.  Discuss any adjustment to assay data.	 All quoted data has been checked against previous ASX reported tables and intersections by experienced KRC geologists.  Rigorous database validation ensures assay data are compiled accurately.  No adjustments have been made to the historic assay data.  WRD001 was drilled to twin WRC-018 with sampling produced similar grades. WRD002 was drilled near WRC-021 with grades also comparable to the RC equivalent.

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Location of data points	 Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.  Specification of the grid system used.  Quality and adequacy of topographic control.	 Holes pegged and picked up with hand held GPS 4-10m accuracy. End of hole down hole survey single shots were taken with an electronic multishot tool for most holes. Some holes were surveyed with a multishot camera.  All locations reported in GDA94 Zone 52.  Topographic locations interpreted from GPS pickups, DEMs and field observations. Labelled RL in Table 1. Some holes have no RL levels listed in the historic data and KRC will calculate these depths based on DEMs and later field observations/hole pickups.
Data spacing and distribution	 Data spacing for reporting of Exploration Results.  Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.  Whether sample compositing has been applied.	 Sample spacing was based on expected target structure width, transported overburden, depth of weathering, expected depth of hole penetration and sectional horizontal coverage of each hole at 60 degrees dip.
Orientation of data in relation to geological structure	 Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.  If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	 Most structures vertical and dill azimuth reversed to help determine dip and true widths of veins.
Sample security	 The measures taken to ensure sample security.	 Sample security is not discussed in the historic data/reports, however all quoted data has been checked against previous ASX reported tables and intersections by experienced KRC geologists. A well-known and highly respectable lab –Ultra Trace – was used for analysis.
Audits or Reviews	 The results of ay audits or reviews of sampling techniques and data.	 None at this stage of the exploration.

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SECTION 2 : REPORTING OF EXPLORATION RESULTS

Criteria	JORC Code explanation	Commentary
Mineral tenement and land tenure status	 Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.  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.	 The Mt Remarkable Project is a recently pegged exploration application licence E80/5007. 100% owned by Speewah Mining Pty Ltd (a wholly owned subsidiary of King River Copper Limited) the licence is located 200km SW of Kununurra in the NE Kimberley. It is within the Yurriyangem Taam native title claim area (WC2010/13).  Speewah Mining also holds tenements within the Speewah Dome to the north (Figure 1).
Exploration done by other parties	 Acknowledgment and appraisal of exploration by other parties.	 Exploration by previous holders is listed in the ‘other substantive exploration’ section of this table. Historical licences were E80/2427 and E80/4001.  Ashton JV (1974-1983) – Kimberlite exploration including stream sediment sampling. Several kimberlites identified in the region outside current tenement.  Uranerz Australia Ltd (1980 to 1982) – Uranium/Base Metal Exploration including stream sampling, geological mapping, ground magnetics and radiometry. Middleton Prospect (Cu-Pb-Mo) identified (NE portion of new tenement).  Hunter Resources (1988-1991) – Gold exploration including BLEG stream sampling, no anomalous values.  Panorama Resources NL (1993-1998) – Kimberlite/Base Metal and Gold exploration including stream, rock chip and RC drilling. 6 RC holes at Middleton Prospect (within current tenement) with no significant gold. Rock Chip sampling along strike at Middleton had no anomalous gold however one sample assayed 64ppm Ag, 8.38% Cu 600m north of Middleton.  Northern Star Resources were the last holders of the ground (2003-2009) – see the ‘other substantive exploration’ section of this table.
Geology	 Deposit type, geological setting and style of mineralisation.	 Exploration is targeting low to intermediate sulphidation epithermal gold- silver-copper mineralisation/ shallow level Cu-Au Porphyry Systems within the NE Kimberly Proterozoic rocks. Potential for high grade gold targets exist in structural and litho-structural traps.
Drill hole Information	 A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:  easting and northing of the drill hole collar  elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar  dip and azimuth of the hole  down hole length and interception depth  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.	 See Figure 1.

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Data aggregation methods	 In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated.  Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.  The assumptions used for any reporting of metal equivalent values should be clearly stated.	 Intersections listed are above 1g/t Au, except in WRC060 which was calculated using up to 5m internal waste with less than 1g/t Au.  No metal equivalent calculations used.
Relationship between mineralisation widths and intercept lengths	 These relationships are particularly important in the reporting of Exploration Results.  If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.  If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’).	 Down hole widths have been quoted in this report. Main targeted structures are sub vertical meaning true widths will be approximately 1/2 to 2/3rds of the quoted width.  Drill holes were drilled perpendicular to structure strike where possible.  Mt Remarkable is a newly acquired project and a full interpretation of the respective prospects is still yet to be done. KRC believes that additional high grade targets will be revealed after a full geological review of the project is completed.
Diagrams	 Appropriate maps and sections (with scales) and tabulations of intercepts 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.	 Figure 1.
Balanced reporting	 Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	 No assay results reported.
Other substantive exploration data	 Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	 The last holders of the ground were Northern Star Resources Ltd who initially were exploring the tenement as a private company in 2002-2003. Northern Star Resources were listed as an ASX company in 2004 and from 2004-2009 undertook airborne magnetics and radiometric surveys, GAIP and DDIP geophysical surveys, soil/stream sediment/rock chip sampling. Also three phases of RC drilling were completed, and two diamond core holes were drilled. Towards the end of their tenure Northern Star employed a consultant geologist to review theproject.

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Further work	 The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling).  Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	 Currently the Mt Remarkable tenement ELA80/5007 is an exploration application licence. An extensive review of the epithermal systems at Speewah is currently underway and any exploration by KRC at Mt Remarkable will provide insight and understanding of the geochemistry and structural controls associated with the high grade mineralisation, and have implications for targeting high grade gold mineralization at the Speewah Dome.  Further data compilation, interpretation and modelling of the Mt Remarkable Project are planned in the immediate future with supporting on ground reconnaissance during exploration phases at the Speewah Project. Exploration at Mt Remarkable aims to extend current high grade mineralisation, identify new high grade shoots on known mineralised veins and identify new mineralised veins/structures.