KING RIVER RESOURCES LIMITED — Capital/Financing Update 2022

Jun 26, 2022

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--------------------------------------------------------------------------------------------------------------Australian Securities Exchange Announcement 27 June 2022

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King River Resources Ltd (ASX:KRR) is pleased to announce the return of high grade drill results from its recently completed drill programme in the Tennant Creek Gold Project (34 holes completed at Kurundi tenement and 3 holes completed at Tennant Creek tenement).

Kurundi - EL32200:

34 RC holes for 1,223m have been drilled at high grade gold prospect ‘Kurundi’ Main where previously announced (KRR ASX 5/3/21) rock chip grab samples returned multiple +10g/t Au results up to 17.25g/t Au along a 2km trend that had never been drilled.

Drilling intersected a 1-5m quartz vein within a broader shear structure. Priority samples selected from visually mineralized intervals in 14 holes have returned high grade gold assay results with best results including (remaining samples and multi element results are pending):

• TTRC019: 7m @ 6.35g/t Au from 25m including 2m @ 21.30g/t Au with 1m @ 35.26g/t Au

• TTRC040: 5m @ 3.84g/t Au from 22m including 2m @ 7.82g/t Au with 1m @ 9.99g/t Au

• TTRC041: 6m @ 4.77g/t Au from 29m including 3m @ 9.28g/t Au with 1m @ 14.76g/t Au

• TTRC042: 6m @ 3.58g/t Au from 8m including 1m @ 17.04g/t Au

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North Main Workings
Workings Multiple High-Grade results including best intersections of:
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• TTRC019: 7m @ 6.35 g/t Au from 25m including 2m @ 21.30 g/t Au with 1m @ 35.26 g/t Au
• TTRC040: 5m @ 3.84g/t Au from 22m including 2m @ 7.82 g/t Au from 23m with 1m @ 9.99 g/t Au
• TTRC041: 6m @ 4.77 g/t Au from 29m including 3m @ 9.28 g/t Au with 1m @ 14.76 g/t Au
• TTRC042: 6m @ 3.58g/t Au from 8m including 1m @ 17.04 g/t Au from 11m
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See Figure 4
Main
Workings East Extensions
Strong structure in easternmost hole
TTRC029: 3m @ 0.56g/t from 8m
including 1m @ 0.97g/t from 7m
Vein continues beyond outcrop areas
TTRC022: 2m @ 3.29g/t Au from 27m
including 1m @ 5.86 g/t Au
Assays Pending
East Extensions Select Results Received
Open at depth
TTRC028: 2m @ 1.37g/t Au from 18m
South
Workings
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Figure 1: Recent RC drill hole locations at Kurundi, with high grade drill results.

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This initial drill programme has confirmed that the vein structure is continuous at depth within a broader shear zone. The vein dips approximately 35 degrees to the southwest (Figure 3). Malachite, azurite, sulphides and iron oxides have been noted associated with some intersections (Figure below).

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7.17 14.76
TTRC041 TTRC041
5.90
14.76
7.17
0.48
TTRC041
0.32 0.34
0.63
7.34 35.26
0.44
0.14
TTRC019
Figure 2: Photos of mineralized chips from holes TTRC019 and TTRC041 ( coloured numbers are g/t Au ).
425m RL
4m @ 3.84g/t Au from 8m
including 1m @ 9.77 g/t Au
400m RL
4m @ 4.22 g/t Au from 18m
including 2m @ 7.75g/t Au
7m @ 1.28g/t Au from 34m
including 2m @ 3.27g/t Au 7m @ 6.35g/t Au from 25m
including 2m @ 21.30g/t Au
with 1m @ 35.26g/t Au
5m @ 1.29g/t Au from 43m
including 1m @ 5.12 g/t Au
375m RL
Open at
Depth
0 25m
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Figure 3: Main workings drill section 2 looking NW, showing vein and shear dipping approximately 35 degrees.

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Best results so far were from around the main workings, with one hole intersecting underground workings at 9m depth.

At present the vein is open to the north, south and at depth of the main workings area with the deepest hole at the main working area (TTRC39) intersecting mineralization, very strong veining (4m) and structure (Figure above). Also, TTRC029, 200m south of the main workings, intersected very strong veining (+7m) and malachite/azurite.

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4m @ 3.24g/t Au from 9m
including 1m @ 9.77 g/t Au 6m @ 3.58g/t Au from 8m
including 1m @ 17.04 g/t Au
4m @ 4.22 g/t Au from 18m
including 2m @ 7.75g/t Au
5m @ 3.06g/t Au from 8m
including 1m @ 8.82 g/t Au
5m @ 3.84g/t Au from 22m
including 2m @ 7.82 g/t Au
with 1m @ 9.99 g/t Au
5m @ 0.75g/t Au from 15m
7m @ 6.35 g/t Au from 25m including 1m @ 1.44g/t Au
including 2m @ 21.30 g/t Au
with 1m @ 35.26 g/t Au
6m @ 4.77 g/t Au from 29m
including 3m @ 9.28 g/t Au
with 1m @ 14.76 g/t Au Thick vein and structure
intersected +7m.
7m @ 1.28g/t Au from 34m
including 2m @ 3.27g/t Au
5m @ 1.27g/t Au from 25m
5m @ 1.29g/t Au from 43m including 1m @ 5.09 g/t Au
including 1m @ 5.12 g/t Au
3m @ 0.56g/t Au from 7m
including 1m @ 0.97g/t Au
2m @ 1.37g/t Au from 18m
Assays Pending
Select Results Received
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Figure 4: Drill hole locations at the main workings drill area with results. Previously announced Rock chips shown.

Drilling at the northern and southern workings areas, where previously reported high grade rock chip samples were also returned, intersected veining and shearing with assay results pending (Figure 1).

Assays are pending for the remaining 20 holes and samples from the unassayed portions of the 14 holes in this report. Multi element results including Cu, Pb, Ag are also pending for all holes.

Further drilling is being planned. Exploration potential is high given the 2km interpreted strike extent (from the northern workings to the southern workings) and the shallow dip of the structure (meaning exploration drilling can test more dip potential with shorter holes). Drilling will test for extensions to the main zone, north and south of the main workings and also test depth extensions. It is hoped the proposed drilling will not only extend the current known zones but discover new mineralized zones at depth and along strike where outcrop is obscured by shallow cover.

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Tennant Creek East - EL31619

Three RC holes have been drilled to test gravity and ground magnetic targets identified at the Lonestar Trend area immediately east of Tennant Creek gold field and within 700m strike of historic workings and ironstone trends and along strike of Emmerson’s Mauretania Deposit.

2021 gravity geophysical processing has revealed a trend of gravity anomalies that are only 700m along strike of the Mauretania/Hopeful Star trend where Emmerson returned best drill result of 20m @ 38.5g/t Au in a diamond drill hole and latest resource figures of 256,216t at 3.5g/t Au for 28,974oz Au have been announced (ASX: ERM 6/4/22) – this resource is said to remain open and unexplored at depth.

Two of the holes intersected significant structure and alteration suggesting drilling is close to or within the Mauretania/Hopeful Star corridor, with hole TTRC048 intersecting a strong zone of veining and alteration and TTRC049 intersecting a narrow zone (<1m) of magnetite ironstone as well as a broad structure and weak magnetite alteration. Assays are pending.

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Emmerson’s Mauretania
Latest Resource of 256,216t at 3.5g/t Au for
28,974oz Au
(Best Drill Drill Result of 20m @ 38.5g/t Au)
Hopeful Star – Ironstones, fault
zone and workings
Intersected:
EL31619 • Large fault/alteration zone
Intersected:
TTRC048 • Magnetite/ ironstone
TTRC047 • Large fault/alteration zone
TTRC049
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Figure 5: Latest Drilling locations at Lone Star Trend Prospect – 2021 gravity trends/anomalies along strike of Emmersons Mauretania deposit. Assays Pending.

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This announcement was authorised by the Chairman of the Company.

Anthony Barton

Chairman King River Resources Limited Email: info@kingriverresources.com.au Phone: +61 8 92218055

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 both the Australian Institute of Geoscientists (AIG) and The Institute of Materials Minerals and Mining (IMMM), and a Chartered Engineer of the IMMM. Mr. Chapman is a Consulting Geologist contracted with the Company and a member of the Australian Institute of Geoscientists (AIG). 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 Chapman and Mr. Rogers consent 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.kingriverresources.com.au

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TABLE 1 Drill hole Locations

Hole Id	Prospect	Easting MGA94 (m)	Northing MGA94 (m)	Elevation (m)	Dip Degrees	Azimuth Degrees	Depth (m)
TTRC012	Kurundi	468,240	7,729,761	415	-60	35	36
TTRC013	Kurundi	468,247	7,729,763	415	-60	215	5
TTRC014	Kurundi	467,469	7,730,340	415	-60	35	36
TTRC015	Kurundi	467,461	7,730,330	415	-60	35	36
TTRC016	Kurundi	467,450	7,730,315	415	-60	35	36
TTRC017	Kurundi	467,447	7,730,351	415	-60	35	30
TTRC018	Kurundi	467,437	7,730,337	415	-60	35	36
TTRC019	Kurundi	467,429	7,730,323	415	-60	35	36
TTRC020	Kurundi	467,421	7,730,310	415	-60	35	48
TTRC021	Kurundi	467,503	7,730,315	415	-60	35	48
TTRC022	Kurundi	467,489	7,730,299	415	-60	35	42
TTRC023	Kurundi	467,535	7,730,304	415	-60	35	18
TTRC024	Kurundi	467,524	7,730,287	415	-60	35	42
TTRC025	Kurundi	467,572	7,730,278	415	-60	35	12
TTRC026	Kurundi	467,594	7,730,266	415	-60	35	18
TTRC027	Kurundi	467,584	7,730,254	415	-60	35	36
TTRC028	Kurundi	467,575	7,730,240	415	-60	35	36
TTRC029	Kurundi	467,612	7,730,258	415	-60	35	24
TTRC030	Kurundi	467,422	7,730,354	415	-60	35	24
TTRC031	Kurundi	467,413	7,730,342	415	-60	35	36
TTRC032	Kurundi	467,406	7,730,331	415	-60	35	42
TTRC033	Kurundi	467,397	7,730,320	415	-60	35	48
TTRC034	Kurundi	467,257	7,730,447	415	-60	35	54
TTRC035	Kurundi	467,246	7,730,425	415	-60	35	30
TTRC036	Kurundi	467,233	7,730,411	415	-60	35	48
TTRC037	Kurundi	466,841	7,730,735	415	-60	35	48
TTRC038	Kurundi	466,853	7,730,722	415	-60	35	60
TTRC039	Kurundi	467,411	7,730,297	415	-60	30	54
TTRC040	Kurundi	467,441	7,730,328	415	-60	35	36
TTRC041	Kurundi	467,433	7,730,315	415	-60	35	42
TTRC042	Kurundi	467,463	7,730,340	415	-60	35	18
TTRC043	Kurundi	467,561	7,730,265	415	-60	35	18
TTRC044	Kurundi	467,587	7,730,242	415	-60	35	30
TTRC045	Kurundi	467,066	7,730,557	415	-60	35	60
TTRC047	Lone Star Trend	432,000	7,832,375	270	-57	180	150
TTRC048	Lone Star Trend	431,996	7,832,443	270	-60	180	150
TTRC049	Lone Star Trend	432,599	7,832,149	270	-60	180	192

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TABLE 2 RC Down Hole Assay Intersections (>0.1g/t Au, 2m internal waste)

HoleId	Prospect	From	To	Interval	Au	Including	From	To	Interval	Au	Including	Interval	Au
		m	m	m	g/t		m	m	m	g/t		m	g/t
TTRC014*	Kurundi	8	13	5	3.06	including	12	13	1	8.82
TTRC015	Kurundi	15	20	5	0.75	including	18	19	1	1.44
TTRC016	Kurundi	25	30	5	1.27	including	28	29	1	5.09
TTRC017	Kurundi	8	12	4	3.24	including	10	11	1	9.77
TTRC018	Kurundi	18	22	4	4.22	including	19	21	2	7.75
TTRC019	Kurundi	25	32	7	6.35	including	28	30	2	21.30	with	1	35.26
TTRC020	Kurundi	34	41	7	1.28	including	37	39	2	3.27
TTRC022	Kurundi	27	29	2	3.29	including	27	28	1	5.86
TTRC028	Kurundi	18	20	2	1.37
TTRC029	Kurundi	7	10	3	0.56	including	7	8	1	0.97
TTRC039	Kurundi	43	48	5	1.29	including	45	46	1	5.12
TTRC040	Kurundi	22	27	5	3.84	including	23	25	2	7.82	with	1	9.99
TTRC041	Kurundi	29	35	6	4.77	including	31	34	3	9.28	with	1	14.76
TTRC042	Kurundi	8	14	6	3.58	including	11	12	1	17.04

*includes 2m cavity as 0g/t Au

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NT TENEMENTS TREASURE CREEK PTY LTD (wholly-owned subsidiary of King River Resources Limited)

Tenement	Project	Ownership	**Change During Quarter **
EL31617	Tennant Creek	100%
EL31618		100%
EL31619		100%
EL31623		100%
EL31624		100%
EL31625		100%
EL31626		100%
EL31627		100%
EL31628		100%
EL31629		100%
EL31633		100%
EL31634		100%
EL32199		100%
EL32200		100%
EL32344		100%
EL32345		100%

Note:

EL = Exploration Licence (granted)

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Appendix 1: King River Resources Limited 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.	This ASX Release dated 27 June 2022 reports on KRR’s reverse circulation drill programme at its Kurundi and Tennant Creek Project. Surface rock chip sampling. No New results reported. Samples are around 1-2kg and selected from newly discovered outcrops or float. Historical Drilling There is no historical drilling at Kurundi. There is no meaningful historical drilling within EL31619 at the Lonestar Trend. Current RC Programme RC Sampling: All samples from the RC drilling are taken as 1m samples. Samples are sent to NAL Laboratory in Pine Creek for assaying. Appropriate QAQC samples (standards, blanks and duplicates) are inserted into the sequences as per industry best practice. Samples are collected using cone or riffle splitter. Geological logging of RC chips is completed at site with representative chips being stored in drill chip trays. Onsite XRF analysis is conducted on the fines from RC chips using a hand‐held Niton XRF Model XL3T 950 Analyser. These results are only used for onsite interpretation and preliminary assessment subject to final geochemical analysis by laboratory assays. It is mentioned in the text that lead was detected by the niton – actual values are not quoted and the results are used as an interpretive tool for further drill hole design.
Sampling Techniques (continued)	Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.	Rock Chip Sampling:_Rock chip samples are recorded on a sampling sheet which includes nature of sampled site, rock type, structure site, structure orientation, size, mineralisation style. Samples are selected to give an understanding of mineralisation and alteration styles and are representative only based on sample site description. _Current RC Programme The RC drilling rig has a cone splitter built into the cyclone on the rig. Samples are taken on a one meter basis and collected directly from the splitter into uniquely numbered calico bags. The calico bag contains a representative sample from the drill return for that metre. This results in a representative sample beingtaken from drill return, for that metre of drilling. The remaining

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Criteria	JORC Code explanation	Commentary
		majority of the sample return for that metre is collected and stored in a green plastic bag marked with that specific metre interval. The cyclone is blown through with compressed air after each plastic and calico sample bag is removed. If wet sample or clays are encountered, then the cyclone is opened and cleaned manually and with the aid of a compressed air gun. Geological logging of RC chips is completed at site with representative chips being stored in drill chip trays. Downhole surveys of dip and azimuth are conducted using a single shot camera every 50m to 100m to detect deviations of the hole from the planned dip and azimuth (every 10m for close spaced infill drilling. The drill‐hole collar locations were recorded using a hand held GPS, which has an accuracy of +/‐10m. At a later date the drillhole collar may be surveyed with a DGPS to a greater degree of accuracy (close spaced infill drilling is pegged and picked up with DGPS).
	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.	_Rock Chip Sampling:_samples are selected specifically to give an understanding of mineralisation/alteration styles and minerals present. RC Sampling: Sampling is done from the 1m splits in altered or mineralised rock and at 4m composites in unaltered/unmineralised rock. KRR Samples are assayed by NAL 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 is processed by fire assay and analysis with ICP<AES. Laboratory QAQC procedures summary: Following 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.
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.).	Current RC Programme The RC drilling uses a 140 mm diameter face hammer tool. High capacity air compressors on the drill rig are used to ensure a continuously sealed and high pressure system during drilling to maximise the recovery of the drill cuttings, and to ensure chips remain dry to the maximum extent possible.

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Criteria	JORC Code explanation	Commentary
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.	Current RC Programme RC samples are visually checked for recovery, moisture and contamination. Geological logging is completed at site with representative RC chips stored in chip trays and core in diamond core trays. RC Samples are collected using cone or riffle splitter. Geological logging of RC chips is completed at site with representative chips being stored in drill chip trays. To date, no detailed analysis to determine the relationship between sample recovery and grade has been undertaken for any drill program. This analysis will be conducted following any economic discovery. The nature of IOCG mineralisation within ironstones is considered to significantly reduce any possible issue of sample bias due to material loss or gain.
Logging	o 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. o Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography. o The total length and percentage of the relevant intersections logged.	Current RC Programme Geological logging is carried out on all drill holes with lithology, alteration, mineralisation, structure and veining recorded. Logging of records lithology, mineralogy, mineralisation, structures (foliation), weathering, colour and other noticeable features. Selected mineralised intervals were photographed in both dry and wet form. All drill holes are geologically logged in full and detailed lithogeochemical information is collected by the field XRF unit to help determine potential mineralised intersections. The data relating to the elements analysed is used to determine further information regarding the detailed rock composition and mineralised intervals.
Sub<sampling techniques and sample preparation	o If core, whether cut or sawn and whether quarter, half or all core taken. o If non<core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry. o For all sample types, the nature, quality and appropriateness of the sample preparation technique. o Quality control procedures adopted for all sub<sampling stages to maximise representivity of samples.	Current RC Programme There is no diamond drilling reported, any core is sampled half core using a core saw. RC samples are collected in dry form. Samples are collected using cone or riffle splitter when available. Geological loggingof RC chips is completed at site with representative chips being

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Criteria	JORC Code explanation	Commentary
	o 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. o Whether sample sizes are appropriate to the grain size of the material being sampled.	stored in drill chip trays. Assay preparation procedures ensure the entire sample is pulverised to 75 microns before the sub‐sample is taken. This removes the potential for the significant sub‐sampling bias that can be introduced at this stage. Field QC procedures maximise representivity of RC samples and eliminate sampling errors, including the use of duplicate samples. Also the use of certified reference material including assay standards and with blanks aid in maximising representivity of samples. 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. Field duplicates were taken every 20thsample for RC samples. The sample sizes are considered to be appropriate to correctly represent the gold/silver mineralisation at the Project based on the style of mineralisation, the thickness and consistency of the intersections and the sampling methodology.
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.	Rock Chip Samples:_Rock chip samples as received from the field are being assayed by ALS Laboratory for multi-elements using either a four acid digest (nitric, hydrochloric, hydrofluoric and perchloric acids) 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 is processed by fire assay and analysis with ICP-AES. The analytical facility is certified to a minimum of ISO 9001:2008. _Historic Drilling: No relevant historical drilling Current RC Programme RC drill samples as received from the field are being assayed by NAL Laboratory for multi<elements using either a four acid digest (nitric, hydrochloric, hydrofluoric and perchloric acids)followed bymulti element analysis with ICP<AES(Inductivelycoupledplasma atomic

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Criteria	JORC Code explanation	Commentary
		emission spectroscopy) or ICP<MS (Inductively coupled plasma mass spectrometry) analysis dependent on element being assayed for and grade ranges). Au is processed by fire assay and analysis with ICP<AES. The analytical facility is certified to a minimum of ISO 9001:2008.
	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.	A handheld XRF instrument (Niton XRF Model XL3T 950 Analyser) is used to systematically analyse the RC chips onsite. Reading time was 60 seconds. The instruments are serviced and calibrated at least once a year. Field calibration of the XRF instrument using standards is undertaken each day. If It is mentioned in the text that gold was detected by the niton – actual values are not quoted and the results are used as an interpretive tool for further drill hole design. Detection of gold by the niton device is not considered reliable as it is possible that a mineral with similar characteristics was detected.
	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.	_Rock Chip Samples:_Laboratory QA/QC involves the use of internal lab standards using certified reference material, blanks, splits and replicates as part of in house procedures. The Company will also submit an independent set of field duplicates (see above). _RC:_Laboratory QA/QC involves the use of internal lab standards using certified reference material, blanks, splits and replicates as part of in house procedures. The Company will also submit an independent set of field duplicates (see above).
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel.	_Rock Chip Samples:_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. Significant intersections are verified by the Company’s Chief Geologist and Senior Consulting Geologist. _RC:_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. Significant intersections are verified by the Company’s Chief Geologist and Senior Consulting Geologist.
	The use of twinned holes.	This is the first drill programme at the relevant targets and work is at an early exploration stage no twin holes have been drilledyet.
Verification of sampling and assaying (continued)	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.	Rock Chip Samples:_Geological data was collected using handwritten log sheets and imported in the field onto a laptop detailing geology (weathering, structure, alteration, mineralisation), sampling quality and intervals, sample numbers, QA/QC and survey data. This data, together with the assay data received from the laboratory and subsequent survey data was entered into the Company’s database. _Current RC Programme

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Criteria	JORC Code explanation	Commentary
		Geological data was collected using handwritten log sheets and imported in the field onto a laptop detailing geology (weathering, structure, alteration, mineralisation), sampling quality and intervals, sample numbers, QA/QC and survey data. This data, together with the assay data received from the laboratory and subsequent survey data was entered into the Company’s database.
	Discuss any adjustment to assay data.	No adjustments or calibrations will be made to any primary assay data collected for the purpose of reporting assay grades and mineralised intervals.
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.	Rock Chip Samples:_Rock sample locations picked up with hand held GPS (sufficient for first pass reconnaissance). _Current RC Programme GPS pickups of exploration drilling is considered adequate at this stage of preliminary exploration.
	Specification of the grid system used.	All rock samples, drill collar and geophysical sample locations recorded in GDA94 Zone 53.
	Quality and adequacy of topographic control.	Rock Chip Samples:_Topographic locations interpreted from GPS pickups (barometric altimeter), DEMs and field observations. Adequate for first pass reconnaissance. Best estimated RLs were assigned during drilling and are to be corrected at a later stage. _Current RC Programme Topographic locations interpreted from GPS pickups (barometric altimeter), DGPS pickups, DEMs and field observations. Adequate for first pass reconnaissance. Best estimated RLs were assigned duringdrillingand are to be corrected at a later stage.
Data spacing and distribution	Data spacing for reporting of Exploration Results.	Rock Chip Samples:_Surface rock chip samples taken of outcrop with visible alteration or mineralisation. Rock samples were selected by geologist to assist with identification of the nature of the mineralisation present at each location. No set sample spacing was used and samples were taken based on geological variation at the location. _Current RC Programme Exploration holes vary from 25m to 700m spacing.
	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.	Rock Chip Sampling:_Rock chip samples were taken at specific sites of geological interest and not for JORC classification. _Current RC Programme

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Criteria	JORC Code explanation	Commentary
		Drilling at the Project is at the exploration stage and mineralisation has not yet demonstrated to be sufficient in both geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications to be applied.
	Whether sample compositing has been applied.	Current RC Programme RC drill samples are taken at one metre lengths and adjusted where necessary to reflect local variations in geology or where visible mineralised zones are encountered, in order to preserve the samples as representative.
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.	_Rock Chip Sampling:_Surface rock chip samples do not provide orientation, width information. Associated structural measurements and interpretation by geologist can assist in understanding geological context. _Current RC Programme:_The drill holes are drilled at an angle of‐60 degrees (unless otherwise stated) on an azimuth designed to intersect the modelled mineralised zones at a near perpendicular orientation. However, the orientation of key structures may be locally variable and any relationship to mineralisation has yet to be identified.
	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.	No orientation-based sampling bias has been identified in the data to date.
Sample security	The measures taken to ensure sample security.	_KRR Samples:_Chain of Custody is managed by the Company until samples pass to a duly certified assay laboratory for subsampling and assaying. The rock chip and RC sample bags are stored on secure sites and delivered to the assay laboratory by the Company or a competent agent. When in transit, they are kept in locked premises. Transport logs have been set up to track the progress of samples. The chain of custody passes upon delivery of the samples to the assay laboratory. Pulps will be stored until final results have been fullyinterpreted.
Audits or Reviews	The results of ay audits or reviews of sampling techniques and data.	Sampling techniques and procedures are regularly reviewed internally, as is data. To date, no external audits have been completed on the drilling programme.

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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 Tennant Creek Project comprises 16 granted exploration licences. Details are listed in Table 3. The tenements are 100% owned by Treasure Creek Pty Ltd (a wholly owned subsidiary of King River Resources Limited), located over the Tennant Creek-Davenport Inliers, south, east and south east of Tennant Creek in the Northern Territory. The Kurundi Native Title Claim (DCD2011/015) covers the Kurundi Pastoral Lease PPL 1109 affecting EL31623, 31624, 31626, 31628, 31629, EL32199 and EL32200. The Davenport and Murchison Ranges sites of conservation significance affect portions of EL31626, 31627, 31628, 31629, EL32199, EL32200, EL32344 and EL32345.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	Treasure Creek: Tennant Creek mineral field has had a long history of exploration and mining (since 1933). Historical exploration around the main Tenant Creek Gold Field primarily included work by Giants Reef, Peko, Posiedon, Roebuck, Normandy (later Newmont) and Tennant Creek Gold. Exploration was primarily based on geophysical surveys targeting coincident gravity and ground magnetic anomalies, followed by RC or diamond drilling. Lines of RAB or Aircore holes were also drilled where specific geophysical models were not present. Currently the bulk of the Tennant Creek mineral field is held by Emmerson Resources. Treasure Creeks applications are outside of the main gold field (except ELA31619) extending from Tennant Creek to Hatches Creek gold fields. Historic exploration over the applications east of the Stuart highway has been sparse and sporadic, with companies including Giants Reef, Normandy, Newmont doing minimal, if any, on ground work (on ground work included a few very broad spaced RAB lines). In the early to mid-2000’s Arafura completed some broad spaced soil samples but relinquished the ground without pursuing any anomalies that were discovered. Applications west of the highway cover ground that was involved in exploration around the Rover Gold Field, including companies such as Geopeko, Giants Reef, Newmont, Western Desert Resources and Tennant Creek Gold. Exploration included magnetic and gravity surveys, geophysical analysis, targeted RC and diamond drilling. The tenements in this area cover significant IOCG targets generated from this work. EL31617 covers ground held by Tennant Creek Gold/Western Desert Resources as part of their Rover Exploration Project which they relinquished in 2014 in favour of their developing iron ore projects. Rock chip sample results referred to at Kurundi and Whistle Duck were taken were taken by various companies in the 1960’s.

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Criteria	JORC Code explanation	Commentary
Geology	Deposit type, geological setting and style of mineralisation.	Exploration at Treasure Creek is targeting Iron Oxide-Copper Gold (IOCG) style of mineralisation in several settings, lithologies and structural complexities within the Proterozoic Tennant Creek-Davenport Inliers.
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: 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. o 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.	Drill information reported in this announcement relates to KRC’s 2022 RC drilling and is presented in Tables 1-2 and Figures 1 to 5.
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.	Rock Chip Samples:_No weighting averaging techniques or maximum/minimum grade truncations used in the laboratory assays reported. Cut-off grades of 1ppb or 2g/t Ag have been used in reporting the rock chip sample exploration results (Table 1). _Drill intersections: o Intersections calculated using a weighted average of grade vs metres. Also: o No metal equivalent calculations used. o No upper cuts used in intersection calculations.
	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 downhole drill intersects in this report have been reported, in Table 2, as intersections for zones >0.1g/t Au allowing 2m of internal waste. Significantly higher grades within these zones are reported as including intervals.
	The assumptions used for any reporting of metal equivalent values _should be clearly stated. _	No metal equivalent values are used for reporting exploration results.
Relationship between mineralisation widths and	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	o Down hole widths have been quoted in this report. The main target dips at 35 degrees meaning downhole width is equivalent to true width. o Drill holes were drilled perpendicular to structure strike where possible. o This is the first drilling at Kurundi and a full interpretation of the respective prospects is still yet to be done.

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Criteria	JORC Code explanation	Commentary
intercept lengths	known’).
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 1,4 and 5 shows drill hole locations, Figure 3 shows a cross section of drilling at the main workings area.
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.	Reports on recent exploration can be found in ASX Releases that are available on our website at www.kingrivercopper.com.au.The exploration results reported are representative of the mineralisation style with grades and/or widths reported in a consistent manner.
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.	This is the first drilling at the Kurundi prospect. There is no drilling within EL31619 at the targeted Lonestar trend area along the Hopeful Star/Mauretania Trend. KRR has undertaken rock chip sampling and reconnaissance at its Kurundi Project and ground geophysics at its Lone Star Trend area.
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. _	KRR plans to implement a focused, thorough gold exploration process utilising contemporary geophysical and exploration techniques. Further drilling is being planned at Kurundi to test along strike and at depth as well as to test for other nearby mineralized structures.