KINGFISHER MINING LTD — Capital/Financing Update 2022

Oct 23, 2022

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ASX Announcement: 24 October 2022

CORPORATE PROFILE

Shares on issue: 52,250,001 Unlisted options: 10,500,000 Cash: $2.2M (30 June 2022) Market Capitalisation: $23.8M* Debt: Nil

PROJECTS

New REE Discoveries along Kingfisher’s 54km Target Corridor - MW7 and MW8

High Grade REE Results over 17.6% TREO

• First step-out mapping from MW2 produces new high grade rare earth element (REE) discoveries at MW7 and MW8 within the defined 54km target mineralisation corridor. Rock chip assays from MW8 include:

• 17.64% TREO (Total Rare Earth Oxides) with 3.82% Nd2O3 + Pr6O11 (MWGS1224)

• 16.75% TREO with 3.66% Nd2O3 + Pr6O11 (MWGS1232)

MICK WELL AND KINGFISHER

Breakthrough high grade rare earth elements discovery in the Gascoyne region of Western Australia

BOOLALOO

Exciting copper and gold potential in the Ashburton region of Western Australia

CORPORATE DIRECTORY

• 13.80% TREO with 3.02% Nd2O3 + Pr6O11 (MWGS1301)

• 10.62% TREO with 2.34% Nd2O3 + Pr6O11 (MWGS1152)

• The new MW7 target has an interpreted strike length of at least 1km and has been confirmed with an initial rock chip result of 3.85% TREO with 0.65% Nd2O3 + Pr6O11 (MWGS1023); additional mapping and sampling at MW7 is ongoing and is a high priority for the Company.

• Additional rock chips from MW2 extend the mineralised zone ahead of drilling scheduled to commence in the coming weeks. Results returned from new areas of high grade REE mineralisation include:

• 7.34% TREO with 1.68% Nd2O3 + Pr6O11 (MWGS1193)

WARREN HALLAM Non-Executive Chairman

• 5.06% TREO with 1.13% Nd2O3 + Pr6O11 (MWGS1177)

• 3.91% TREO with 0.78% Nd2O3 + Pr6O11 (MWGS1191)

• 3.19% TREO with 0.64% Nd2O3 + Pr6O11 (MWGS1179)

JAMES FARRELL

Executive Director and CEO

ADAM SCHOFIELD Non-Executive Director

SCOTT HUFFADINE Non-Executive Director

STEPHEN BROCKHURST Company Secretary

MEDIA & INVESTOR ENQUIRIES

Peter Taylor, NWR Communications P: +61 412 036 231 E: peter@nwrcommunications.com.au

ABN: 96 629 675 216

P: +61 8 9481 0389 E: info@kingfishermining.com.au

Unit 2, 106 Robinson Avenue Belmont WA 6104 AUSTRALIA

* Based on a share price of $0.455 as of 21 October 2022

• Additional assays from mapping and surface sampling of the new targets along the 54km target corridor in the Mick Well area are expected in late November.

Kingfisher Mining Limited ( ASX:KFM ) (“ Kingfisher ” or the “ Company” ) is pleased to announce that it has made further new high grade REE mineralisation discoveries from rock chips at its 100% owned projects in the Gascoyne Mineral Field in Western Australia.

Kingfisher’s Executive Director and CEO James Farrell commented: “We are ecstatic with the latest discoveries at MW7 and MW8.

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We are advancing along the target corridor, with these new high grade outcropping REE discoveries coming from the initial 3km of the 54km strike of the mineralised corridor.

The new discoveries now mean there are multiple cross cutting lodes over a 2km zone extending along the corridor from our initial discovery at the MW2 Prospect, where drilling is scheduled to commence in the coming weeks.

We are extremely encouraged by the results and the potential of our extensive tenement package as we continue our mapping and rock chipping programs.“

MW8 monazite-rich sample MWGS1224, 17.64% TREO

www.kingfishermining.com.au

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ASX Announcement:
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Mick Well REE Discoveries

On-going mapping and sampling at the Company’s Mick Well project has led to the discovery of new high grade mineralisation at the MW7 and MW8 (Figure 1). MW7 and MW8 are located 700m and 1900m northwest of the MW2 prospect, where drilling has returned high grade REE results of 5m at 3.45% TREO (see ASX:KFM 5 July 2022) and where rock chips sampling has returned results of over 40% TREO (see ASX:KFM 4 October 2022 and 30 August 2022). Drilling of these areas are part of a drill program commencing in the coming weeks. Significantly, the new MW7 and MW8 discoveries occur in NE-trending structures (like MW2) and crosscut the WNW-trending target corridor which extends for over 54km in the Company’s tenure.

MW8

Mineralisation at MW8 has been mapped in two parallel lodes that outcrop over a strike length of more than 300m, with results that include:

• 17.64% TREO with 3.82% Nd2O3 + Pr6O11 (MWGS1224)

• 16.75% TREO with 3.66% Nd2O3 + Pr6O11 (MWGS1232)

• 13.80% TREO with 3.02% Nd2O3 + Pr6O11 (MWGS1301)

• 10.62% TREO with 2.34% Nd2O3 + Pr6O11 (MWGS1152)

• 4.88% TREO with 0.97% Nd2O3 + Pr6O11 (MWGS1291)

• 4.49% TREO with 1.02% Nd2O3 + Pr6O11 (MWGS1308)

• 2.62% TREO with 0.58% Nd2O3 + Pr6O11 (MWGS1163)

• 2.39% TREO with 0.58% Nd2O3 + Pr6O11 (MWGS1231)

• 2.01% TREO with 0.45% Nd2O3 + Pr6O11 (MWGS1223)

• 1.75% TREO with 0.42% Nd2O3 + Pr6O11 (MWGS1222)

• 1.74% TREO with 0.42% Nd2O3 + Pr6O11 (MWGS1233)

• 1.21% TREO with 0.37% Nd2O3 + Pr6O11 (MWGS1151)

• 1.16% TREO with 0.29% Nd2O3 + Pr6O11 (MWGS1304)

• 1.11% TREO with 0.36% Nd2O3 + Pr6O11 (MWGS1319)

• 1.08% TREO with 0.28% Nd2O3 + Pr6O11 (MWGS1226)

New mineralisation has also been identified more than 1200m northeast of the MW8 outcrop and along the interpreted MW8 structure (Figure 1). Results from the potential extensions to MW8, which will be investigated as part of upcoming mapping programs, include 1.08% TREO with 0.18% Nd2O3 + Pr6O11 (MWGS1187).

MW7

Geological interpretation at MW7 has identified a potential strike length of at least 1000m (Figure 1), with mineralisation confirmed from an initial sample which returned 3.85% TREO with 0.65% Nd2O3 + Pr6O11 (MWGS1023).

MW2

Additional rock chip results from on-going work at MW2 have also further extended the mineralised zone (Figure 2). Results from the new extensions to high grade REE lodes include:

• 7.34% TREO with 1.68% Nd2O3 + Pr6O11 (MWGS1193)

• 5.06% TREO with 1.13% Nd2O3 + Pr6O11 (MWGS1177)

• 4.92% TREO with 0.84% Nd2O3 + Pr6O11 (MWGS1128)

• 3.91% TREO with 0.78% Nd2O3 + Pr6O11 (MWGS1191)

• 3.19% TREO with 0.64% Nd2O3 + Pr6O11 (MWGS1179)

• 2.66% TREO with 0.56% Nd2O3 + Pr6O11 (MWGS1205)

• 1.77% TREO with 0.36% Nd2O3 + Pr6O11 (MWGS1200)

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ASX Announcement: 24 October 2022

• 1.38% TREO with 0.28% Nd2O3 + Pr6O11 (MWGS1209)

• 1.34% TREO with 0.27% Nd2O3 + Pr6O11 (MWGS1190)

• 1.15% TREO with 0.25% Nd2O3 + Pr6O11 (MWGS1130)

Other Areas of New Mineralisation

Mineralisation has also been identified in a laterally extensive WNW-trending lode which is parallel to the 54km target corridor (Figure 1, Figure 3). The results from the single mineralisation sample collected include 2.33% TREO with 0.45% Nd2O3 + Pr6O11 (MWGS1240).

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MWGS1010: 0.88% TREO and 0.14% NdPr
MWGS1011: 0.60% TREO and 0.10% NdPr
MW1 MWGS1079:MWGS1186: 0.33% TREO and 0.05% NdPr0.99% TREO and 0.16% NdPr
MWGS1187: 1.08% TREO and 0.18% NdPr
MWGS1085: 0.73% TREO and 0.13% NdPr
MWGS1147: 0.76% TREO and 0.18% NdPr
MWGS1222: 1.75% TREO and 0.42% NdPr
MWGS1290: 0.73% TREO and 0.23% NdPr
Open
MW8
MWGS1163: 2.62% TREO and 0.58% NdPr
MWGS1223: 2.01% TREO and 0.45% NdPr Open MWGS1023: 3.85% TREO and 0.65% NdPr Open
MWGS1291: 4.88% TREO and 0.97% NdPr
MWGS1308: 4.49% TREO and 1.02% NdPr MW7 Open
MWGS1152: 10.62% TREO and 2.34% NdPr
MWGS1224: MWGS1231: 17.64% TREO and 3.82% NdPr2.39% TREO and 0.58% NdPr Open
Open MWGS1232: MWGS1301: 16.75% TREO and 3.66% NdPr13.8% TREO and 3.02% NdPr
Open
MWGS1240: 2.33% TREO and 0.45% NdPr MWGS1142: MWGS1151: MWGS1233: 0.66% TREO and 0.16% NdPr1.21% TREO and 0.37% NdPr1.74% TREO and 0.42% NdPr MW2 Open
MWGS1304: 1.16% TREO and 0.29% NdPr
MWGS1319: 1.11% TREO and 0.36% NdPr Open Open
Open
Legend MW2 DRILL HOLE RESULTS:
Geology MWRC004: 12m at 1.12% TREO,
Carbonatite complex MW3 including 4m at 1.84% TREO
Mineralised dyke MWRC011: 5m at 3.45% TREO,
Mineralised dyke including 3m at 5.21% TREO
(newly discovered)
Mineralisation target MWRC011: 4m at 1.03% TREO,
including 1m at 2.78% TREO
Drilling
MWRC013: 8m at 1.05% TREO
RC drill hole
Rock Chips: TREO
>5%
1-5%
0.5-1%
0.2-0.5% 500 m
0.1-0.2%
0.0-0.1%
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Figure 1: Rock chip results for MW7, MW8 and other newly discovered mineralisation. The results are stated as Total Rare Earth Oxides (TREO%) and total Nd2O3 + Pr6O11 (%) content.

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ASX Announcement: 24 October 2022

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MWGS0848: 23.81% TREO and 3.97% NdPr
MWGS0849: MWGS0850: 0.26% TREO and 0.05% NdPr40.31% TREO and 6.5% NdPr Open
MWGS0866: 25.68% TREO and 4.26% NdPr
MWGS1108: 28.07% TREO and 4.63% NdPr
MWGS0844: 13.87% TREO and 2.22% NdPr
MWGS1023: 3.85% MWGS0845: 1.02% TREO and 0.17% NdPr Open MWGS0814: 9.58% TREO and 1.59% NdPr
TREO and 0.65% NdPr
MWGS0592: 0.31% TREO and 0.05% NdPr MWGS0807: 0.02% TREO
MWGS0696: 0.27% TREO and 0.05% NdPr Open MWGS0808: 0.38% TREO and 0.06% NdPr
MWGS0701: 0.50% TREO and 0.08% NdPr
Open
MWGS1128: 4.92% TREO and 0.84% NdPr MW2
MW7
MWGS1103: 15.22% TREO and 2.2% NdPr MWGS0508: 0.2% TREO and 0.04% NdPr
MWGS1104: 3.93% TREO and 0.78% NdPr Open Open MWGS0832: 0.4% TREO and 0.07% NdPr
Open
MWGS1093: 11.98% TREO and 2.12% NdPr MWGS0898: 0.26% TREO and 0.04% NdPr
MWGS0899: 9.06% TREO and 1.39% NdPr
MWGS0900: 3.28% TREO and 0.52% NdPr
MWGS1179: 3.19% TREO and 0.64% NdPr
MWGS1190: 1.34% TREO and 0.27% NdPr
MWGS1191: MWGS1193: 3.91% TREO and 0.78% NdPr7.34% TREO and 1.68% NdPr Open Open MWGS0796: MWGS0797: 4.52% TREO and 0.80% NdPr8.95% TREO and 1.41% NdPr
MWGS1205: 2.66% TREO and 0.56% NdPr MWGS0798: 6.33% TREO and 1.06% NdPr
Open MWGS1130: 1.15% Open MWGS0799: 9.93% TREO and 1.77% NdPr
TREO and 0.25% NdPr
MWGS0484: 21.13% TREO and 3.59% NdPr
MWGS0488: 17.95% TREO and 3.01% NdPr
Legend Open MWGS0490: 19.60% TREO and 3.09% NdPr
Geology
MW2 DRILL HOLE RESULTS:
Carbonatite complex MWGS1172: 0.65% TREO and 0.14% NdPr
MWGS1176: 0.11% TREO and 0.02% NdPr MWRC004: 12m at 1.12% TREO,
Mineralised dyke MWGS1177: 5.06% TREO and 1.13% NdPr including 4m at 1.84% TREO
Mineralised dyke MWGS1200: 1.77% TREO and 0.36% NdPr
(newly discovered) Open MWRC011: 5m at 3.45% TREO,
Mineralisation target including 3m at 5.21% TREO
Drilling MWRC011: 4m at 1.03% TREO,
DRILL HOLE RESULTS:
RC drill hole MWRC017: 4m at 0.17% TREO including 1m at 2.78% TREO
Rock Chips: TREO MWRC013: 8m at 1.05% TREO
>5% MW3 DRILL HOLE RESULTS:
1-5% MWRC002: 4m at 0.17% TREO
0.5-1%
0.2-0.5% Open 250 m
0.1-0.2%
0.0-0.1%
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Figure 2: MW2 rock chip samples and mineralisation. New results are shown in blue and previously reported rock chips are shown in orange (see ASX:KFM 4 October 2022, 30 August 2022 and 20 June 2022). The outcropping mineralisation is located 500m northwest of Kingfisher’s MW2 discovery drill holes which included 5m at 3.45% TREO, with 3m at 5.21% TREO (see ASX:KFM 5 July 2022) and 12m at 1.12% TREO, with 4m at 1.84% TREO (see ASX:KFM 24 March 2022). Rock chip results are stated as Total Rare Earth Oxides (TREO%) and total Nd2O3 + Pr6O11 (%) content.

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ASX Announcement: 24 October 2022

The current mapping and rock chipping work is targeting a large number of laterally-extensive high priority targets in a broad area that extends 10km west-northwest from MW2 (Figure 3). The targets in this area are also associated with carbonatite complexes as well as high thorium and magnetic responses – similar to what is seen from the newly identified outcropping mineralisation at MW2. Significantly, all of these targets within this 10km long area also lie within Kingfisher’s target corridor, the Chalba Shear Zone, which extends for 54km across the Company’s Gascoyne tenure (Figure 4).

The Chalba Shear Zone is a broad WNW-trending crustal-scale structure that has played an important role in providing a conduit for the intrusion of the carbonatites, as well as the associated alteration and late-stage mineralised veins and carbonatite dykes. Fenites (carbonatite-associated alteration) and potassium fenites, are well-developed in the Mick Well area and are an important host of the REE mineralisation. The carbonatite intrusionrelated exploration and mineralisation model is shown in Figure 5.

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Priority Targets
Priority Targets
Open
Open
Open
MW8
Open MW2
Open
MW3
Legend
Geology
Carbonatite complex
Mineralised carbonatite dyke Priority Targets
Geophysics Priority Targets
20
Thorium
parts per million
40
1 km
100
Radiometrics
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Figure 3: Extensive thorium anomalies which extend 10km west-northwest of the MW2 discovery and are within the 54km target corridor within Kingfisher’s tenure. Priority targets, the outcropping mineralisation and the coincident thorium anomaly at the recently discovered REE-bearing carbonatite dykes are also shown.

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ASX Announcement: 24 October 2022

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Figure 4: Total Magnetic Intensity for the Kingfisher, Mick Well and Arthur River Projects. Kingfisher is targeting REE mineralisation associated carbonatite intrusions which intrude along faults and shear zones which extend for 54km within the Company’s tenure.

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ASX Announcement:

24 October 2022

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Figure 5: Carbonatite associated rare earth element mineralisation model*. The model shows carbonatite intrusions and dykes, areas of potassic fenitisation as well as the late stage REE-bearing dykes and veins – which have been discovered by the Company at the Mick Well project.

2022 Gascoyne Exploration Program

Kingfisher is carrying out extensive and targeted exploration programs for its Gascoyne projects during 2022. The planned exploration is cost-effective and aims to develop and test drill targets from ground-based mapping and rock sampling. The Company also plans to simultaneously develop a pipeline of exploration opportunities through integrating current and scheduled tenement-scale airborne geophysical surveys with geological knowledge from the Company’s breakthrough REE discovery at Mick Well.

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24 October 2022

ASX Announcement:

Planned and completed activities for 2022 for Kingfisher’s Gascoyne projects are shown below.

Q1 2022	Q2 2022	Q3 2022	Q4	2022
Mick Well
RC Drilling
Magnetic and radiometric survey
Mappingand drill target definition
Ground-based radiometrics
Kingfisher
RC Drilling
Magnetic and radiometric survey
Arthur River
Magnetic and radiometric survey
Boolaloo
Magnetic and radiometric survey

Upcoming News

• November 2022: Results from airborne geophysics surveys.

• November 2022: Drilling and additional results from MW2.

• November 2022: Results from ongoing surface mapping and rock chip sampling in the Mick Well area.

About the Kingfisher and Mick Well Projects

The Kingfisher and Mick Well Projects are located approximately 230km east of Carnarvon, in the Gascoyne region of Western Australia. The Company holds exploration licences covering 969km[2] and has recently increased its interests in the Gascoyne Mineral Field by nearly 40% through the targeted pegging of additional tenure interpreted to be prospective for rare earth elements (Figure 6). The tenure includes rocks of the Proterozoic Durlacher Suite that hosts the world-class Yangibana Deposit which includes 29.93Mt @ 0.93% TREO[# ] as well as the Archaean Halfway Gneiss.

The recently discovered REE mineralisation at Mick Well is associated with carbonatite intrusions discovered by Kingfisher. Historic exploration in the area had focused on outcrops of quartz reef and gossanous ironstones which are up to 10m in width. Past exploration returned rock chip sample results of up to 10.6% Cu over a strike length of 1km within a laterally extensive geological horizon. Four historical drill holes were completed in the Mick Well area, with the best result being 11m @ 0.25% Cu from 118 m (MWDD001)[^] .

Historical exploration also identified copper at the Kingfisher Project, with mineralisation exposed in a series of shallow historical mining pits over a strike length of 2km. Previous exploration at the project has included geophysical surveys, surface geochemical sampling and limited reverse circulation drilling, with drilling intercepts including 3m @ 0.6% Cu (KFRC10) and rock chip results of 15.3% Cu, 6.3% Cu, 6.2% Cu, 5.9% Cu and 3.4% Cu[^] .

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ASX Announcement: 24 October 2022

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Figure 6: Location of the Mick Well Project in the Gascoyne Mineral Field showing the extents of the Durlacher Suite and Halfway Gneiss. The location of the Yangibana Deposit and Yin and Lyons Projects 100km north of Kingfisher’s projects are also shown.

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ASX Announcement: 24 October 2022

This announcement has been authorised by the Board of Directors of the Company.

Ends

For further information, please contact:

Kingfisher Mining Limited

James Farrell, Executive Director Ph: +61 (08) 9481 0389

E: info@kingfishermining.com.au

Media & Investor Enquiries

Peter Taylor, NWR Communications Ph: +61 412 036 231 E: peter@nwrcommunications.com.au

About Kingfisher Mining Limited

Kingfisher Mining Limited ( ASX:KFM ) is a mineral exploration company committed to increasing value for shareholders through the acquisition, exploration and development of mineral resource projects throughout Western Australia. The Company’s tenements and tenement applications cover 1,676km[2] in the underexplored Ashburton and Gascoyne Mineral Fields.

The Company has made a breakthrough high grade rare earth elements discovery in the Gascoyne region where it holds a target strike length of more than 50km along the mineralised corridor and has secured significant landholdings across the interpreted extensions to its advanced copper-gold exploration targets giving it more than 30km of strike across the Boolaloo Project target geology.

To learn more please visit: www.kingfishermining.com.au

Previous ASX Announcements

ASX:KFM: Further Exceptional REE Results Extends MW2 Strike Length to 3km 4 October 2022.

ASX:KFM: 40% REE Returned from Mick Well 30 August 2022.

ASX:KFM: Latest Drilling Returns High Grade REEs with 5m at 3.45% TREO, including 3m at 5.21% TREO 5 July 2022.

ASX:KFM: Surface Assays up to 21% TREO Define a Further 800m of Outcropping Mineralisation 20 June 2022.

ASX:KFM: High Grade Rare Earths Returned from Discovery Drill Hole: 4m at 1.84% TREO, including 1m at 3.87% TREO 24 March 2022.

ASX:KFM: Significant Rare Earths Discovery: 12m at 1.12% TREO 10 January 2022.

• Elliott, H.A.L., Wall, F., Chakhmouradian, A.R., P.R.Siegfried, Dahlgrend, S., Weatherley, S., Finch, A.A., Marks, M.A.W., Dowman, E. and Deady, F. 2018. Fenites associated with carbonatite complexes: A review. Ore Geology Reviews , Volume 93, February 2018, Pages 38-59.

• ASX Announcement ‘Drilling along 8km long Bald Hill - Fraser's trend Increases Indicated Mineral Resources by 50%’. Hastings Technology Metals Limited (ASX:HAS), 11 October 2022.

• ^ Kingfisher Mining Limited Prospectus, 9 November 2020.

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24 October 2022

ASX Announcement:

Total Rare Earth Oxide Calculation

Total Rare Earths Oxides (TREO) is the sum of the oxides of the light rare earth elements lanthanum (La), cerium (Ce), praseodymium (Pr), neodymium (Nd), and samarium (Sm) and the heavy rare earth elements europium (Eu), gadolinium (Gd), terbium (Tb), dysprosium (Dy), holmium (Ho), erbium (Er), thulium (Tm), ytterbium (Yb), lutetium (Lu), and yttrium (Y).

Forward-Looking Statements

This announcement may contain forward-looking statements which involve a number of risks and uncertainties. These forward-looking statements are expressed in good faith and believed to have a reasonable basis. These statements reflect current expectations, intentions or strategies regarding the future and assumptions based on currently available information. Should one or more of the risks or uncertainties materialise, or should underlying assumptions prove incorrect, actual results may vary from the expectations, intentions and strategies described in this announcement. No obligation is assumed to update forward looking statements if these beliefs, opinions, and estimates should change or to reflect other future developments.

Competent Persons Statements

The information in this report that relates to Exploration Results is based on information compiled by Mr James Farrell, a geologist and Executive Director / CEO employed by Kingfisher Mining Limited. Mr Farrell is a Member of the Australian Institute of Geoscientists and has sufficient experience that is relevant to this style of mineralisation and type of deposit under consideration and to the activity that is being reported on to qualify as a Competent Person as defined in the 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Farrell consents to the inclusion in the report of the matters in the form and context in which it appears.

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Annexure 1: Rock Chip Sample Information

Sample ID	Easting	Northing	CeO2	Dy2O3	Er2O3	Eu2O3	Gd2O3	Ho2O3	La2O3	Lu2O3	Nd2O3	Pr6O11	Sm2O3	Tb2O3	Tm2O3	Y2O3	Yb2O3	TREO
MWGS1010	401078	7250703	4275	26.9	8.0	25.5	58.7	3.9	2736	0.57	1040	369	110.51	6.33	0.91	100.5	4.90	8766
MWGS1011	401083	7250694	2890	23.8	6.9	20.4	49.0	3.4	1862	0.45	748	260	86.62	5.41	0.69	83.3	3.42	6043
MWGS1023	400982	7250093	18348	79.8	17.3	123.9	244.0	10.1	12351	1.02	4893	1656	546.52	21.64	1.83	239.0	8.65	38542
MWGS1079	401084	7250695	1598	9.3	3.0	9.0	20.6	1.4	1053	0.34	398	139	41.28	2.07	0.34	35.4	2.16	3313
MWGS1085	400620	7250518	3529	17.0	5.0	23.9	52.3	2.4	2213	0.45	960	316	111.09	4.60	0.57	65.5	3.07	7303
MWGS1128	401762	7250056	23657	123.3	30.9	153.4	327.0	15.9	15322	2.16	6287	2130	690.66	31.54	3.31	382.1	17.08	49173
MWGS1130	401599	7249780	4514	210.6	63.8	131.3	379.8	31.4	2361	4.09	2007	528	444.71	45.46	6.85	776.9	34.73	11539
MWGS1142	399816	7250027	2801	95.3	40.5	55.2	146.4	16.8	1105	4.09	1239	336	201.31	18.88	5.14	475.8	30.74	6570
MWGS1147	399923	7250186	3553	40.6	13.5	39.1	85.6	6.1	1692	1.02	1410	415	167.80	9.09	1.48	160.4	8.31	7603
MWGS1151	399833	7250039	4762	195.8	66.3	143.2	363.5	30.8	1398	3.98	3002	718	556.15	42.93	7.08	816.3	35.07	12141
MWGS1152	399832	7250058	51841	425.8	125.9	419.1	899.8	63.1	25430	6.48	17869	5517	1909.87	95.65	12.91	1561.4	58.30	106235
MWGS1153	399800	7250021	2704	137.4	50.9	88.5	243.1	22.5	896	3.75	1548	377	312.63	29.01	5.82	591.5	30.74	7041
MWGS1163	399900	7250112	12683	122.3	40.5	115.4	258.6	18.9	6131	3.30	4442	1377	503.97	27.39	4.80	484.0	25.96	26237
MWGS1165	399926	7250255	2080	24.4	7.4	19.9	47.6	3.7	1034	0.57	699	211	83.49	5.41	0.80	95.1	3.99	4317
MWGS1172	401308	7249703	3186	13.0	3.3	19.8	37.2	1.8	1654	0.23	1074	330	99.38	3.22	0.34	45.5	2.16	6470
MWGS1173	401276	7249687	591	21.8	7.5	14.8	35.7	3.4	240	0.57	298	76	53.81	4.49	0.91	90.4	4.44	1442
MWGS1176	401286	7249693	465	14.6	6.1	8.1	22.9	2.6	234	0.68	186	53	30.50	2.88	0.80	72.1	4.44	1104
MWGS1177	401286	7249691	25171	68.3	15.1	134.2	272.5	8.5	12616	1.14	8607	2654	787.72	20.83	1.60	213.5	7.86	50580
MWGS1179	401285	7249731	15263	75.5	18.0	117.1	246.0	9.7	8915	1.25	4888	1533	562.29	21.52	1.94	238.2	10.25	31900
MWGS1185	400902	7250652	640	27.2	8.5	15.9	46.0	4.1	378	0.57	304	84	56.36	5.64	0.91	111.8	5.01	1688
MWGS1186	401080	7250730	4779	27.0	8.5	27.7	59.9	4.1	3101	0.68	1195	427	123.27	6.56	0.91	102.7	5.12	9868
MWGS1187	401079	7250702	5217	30.8	8.9	31.4	68.5	4.5	3323	0.68	1357	474	141.47	7.25	1.03	109.6	5.01	10782
MWGS1190	401285	7249729	6292	44.2	13.0	56.7	113.6	6.4	3760	1.02	2065	661	248.27	10.93	1.48	155.3	8.08	13437
MWGS1191	401285	7249729	18666	85.6	19.3	137.8	281.8	10.7	11111	1.25	5966	1833	662.60	23.83	2.06	265.3	10.59	39076
MWGS1193	401283	7249719	35993	148.5	34.9	252.7	558.4	18.9	17699	2.39	12864	3887	1392.11	44.66	3.54	451.3	17.99	73368
MWGS1200	401290	7249703	8571	34.9	8.0	59.7	120.6	4.6	4816	0.45	2781	861	298.02	9.78	0.80	107.3	3.53	17677
MWGS1201	401275	7249690	799	18.2	6.9	11.1	34.3	2.9	430	0.57	287	85	46.85	3.91	0.80	80.3	4.67	1812
MWGS1203	401295	7249693	3173	16.9	5.4	19.9	42.4	2.5	1810	0.34	961	316	94.39	4.03	0.57	62.0	2.96	6512
MWGS1205	401250	7249716	12850	68.1	18.8	100.5	212.8	9.5	6935	1.36	4296	1344	492.37	18.65	2.06	235.4	11.16	26596
MWGS1209	401243	7249772	6505	48.7	13.0	58.1	130.1	6.6	3760	0.91	2138	670	267.52	12.32	1.48	173.9	7.29	13794
MWGS1213	401152	7250358	835	220.6	84.2	72.4	235.2	37.2	389	5.57	495	108	194.47	39.13	9.59	916.8	49.99	3691
MWGS1222	399922	7250189	8345	87.9	30.9	85.7	186.3	13.6	3767	2.39	3194	959	380.58	19.91	3.54	361.4	19.24	17456
MWGS1223	399882	7250125	9468	146.2	44.3	117.3	292.9	22.3	4422	2.39	3472	1036	473.58	32.92	4.57	535.9	22.20	20093
MWGS1224	399839	7250060	88447	263.2	61.6	485.8	911.1	34.5	44483	3.53	28999	9152	2616.88	71.48	5.82	828.5	27.90	176391
MWGS1225	399837	7250029	3035	93.1	32.6	62.5	160.0	14.7	1103	2.27	1443	386	231.34	19.22	3.77	385.3	19.81	6991
MWGS1226	399837	7250029	4827	129.1	47.3	87.5	215.2	20.6	1772	3.41	2184	606	333.27	26.70	5.37	549.1	28.13	10835
MWGS1227	399848	7250036	218	5.6	1.9	1.9	12.0	0.8	102	0.23	82	24	15.31	1.27	0.23	24.9	1.37	493
MWGS1228	399857	7250052	176	28.1	10.1	13.9	37.5	4.4	54	1.25	139	28	45.80	5.52	1.14	118.5	7.74	672
MWGS1229	399857	7250053	1086	45.4	15.2	28.7	78.6	7.1	399	1.48	577	141	113.64	9.55	1.71	186.0	9.79	2700
MWGS1230	399861	7250056	982	15.8	5.1	12.9	29.4	2.4	486	0.45	350	104	48.24	3.45	0.57	64.1	3.30	2107
MWGS1231	399849	7250074	10013	360.9	126.0	213.2	553.3	58.8	4296	6.71	4584	1215	792.94	72.28	13.36	1531.0	62.63	23898
MWGS1232	399832	7250057	84004	230.1	49.6	450.2	813.2	28.6	42082	2.39	27690	8908	2433.78	64.46	4.57	678.4	20.61	167459
MWGS1233	399807	7250020	7622	207.5	71.4	146.1	381.9	32.5	3215	5.00	3321	925	545.13	43.62	8.11	858.5	41.90	17425

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Sample ID	Easting	Northing	CeO2	Dy2O3	Er2O3	Eu2O3	Gd2O3	Ho2O3	La2O3	Lu2O3	Nd2O3	Pr6O11	Sm2O3	Tb2O3	Tm2O3	Y2O3	Yb2O3	TREO
MWGS1240	399104	7249943	11240	91.9	29.4	86.0	196.9	13.6	6393	2.16	3419	1070	387.54	20.60	3.43	349.9	17.31	23321
MWGS1259	400113	7250144	463	16.4	5.6	11.6	29.7	2.6	171	0.45	246	62	43.37	3.57	0.57	65.4	3.30	1125
MWGS1260	400069	7250122	529	144.3	48.6	74.6	179.2	22.2	87	2.96	663	122	224.04	27.74	5.82	567.5	30.18	2728
MWGS1290	399920	7250184	2832	124.6	39.6	92.6	225.1	19.1	771	2.27	1890	430	355.65	26.93	4.23	504.3	20.72	7338
MWGS1291	399884	7250127	23709	202.9	58.7	177.4	414.1	29.2	12856	3.30	7391	2309	802.10	46.39	6.05	769.8	27.33	48802
MWGS1301	399837	7250058	68449	226.9	55.7	379.0	697.9	30.2	34995	3.07	22988	7243	2058.19	58.24	5.60	751.4	25.62	137968
MWGS1302	399815	7250029	3289	94.2	33.7	62.8	153.3	15.2	1279	2.50	1535	410	240.50	19.80	4.00	393.8	19.70	7552
MWGS1304	399822	7250031	4694	174.1	61.2	106.6	278.1	27.0	2106	4.09	2305	612	395.31	35.80	6.74	722.6	34.27	11563
MWGS1305	399916	7250226	1015	26.2	9.8	14.0	44.6	4.2	622	0.80	476	137	68.30	5.41	1.14	110.9	6.04	2540
MWGS1306	399889	7250134	955	14.2	4.8	11.8	27.3	2.2	478	0.45	376	110	49.52	3.11	0.57	57.5	3.19	2093
MWGS1308	399879	7250090	21002	356.0	121.4	242.5	596.6	56.7	9731	7.28	7848	2304	1002.25	74.35	13.02	1500.8	62.40	44918
MWGS1310	399863	7250056	1004	30.5	8.9	24.8	50.8	4.2	452	0.57	442	118	80.24	6.56	1.03	103.5	4.90	2332
MWGS1314	399904	7250085	3096	143.8	52.0	88.5	228.1	23.6	890	3.41	1947	464	349.16	29.01	5.94	646.9	29.72	7998
MWGS1317	399847	7250049	1493	42.5	12.7	27.7	75.0	6.4	724	0.80	643	175	105.18	9.09	1.37	162.8	6.60	3484
MWGS1318	399839	7250044	835	62.3	18.0	36.2	105.5	9.0	306	0.91	532	119	125.24	13.47	1.83	227.1	8.43	2400
MWGS1319	399833	7250041	4307	174.6	56.5	136.1	333.3	26.2	1119	3.18	2957	691	538.41	37.87	6.17	692.2	28.58	11107

All sample information is parts per million (ppm). 100,000 ppm is equal to 10%.

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Attachment 1: JORC Code, 2012 Edition – Table 1

Section 1 Sampling Techniques and Data

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
Sampling	•	Nature and quality of sampling (eg cut channels, random chips, or specific	•	Rock chip samples were taken as individual rocks representing an outcrop
techniques		specialised industry standard measurement tools appropriate to the minerals		to give an indication of possible grades and widths that can be expected
		under investigation, such as down hole gamma sondes, or handheld XRF		from drilling. Individual rock samples can be biased towards higher grade
		instruments, etc). These examples should not be taken as limiting the broad		mineralisation.
		meaning of sampling.	•	Rock chip samples were typically between 1 and 2 kg. The entire sample
	•	Include reference to measures taken to ensure sample representivity and the		received by the laboratory was crushed and pulverised to 85% passing 75
		appropriate calibration of any measurement tools or systems used.		micron.
	•	Aspects of the determination of mineralisation that are Material to the Public	•	A duplicate sample of between 0.1 and 0.2 kg was retained by the
		Report.		Company for some of samples reported.
	•	In cases where ‘industry standard’ work has been done this would be relatively
		simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from
		which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other
		cases more explanation may be required, such as where there is coarse gold
		that has inherent sampling problems. Unusual commodities or mineralisation
		types(eg submarine nodules) may warrant disclosure of detailed information.
Drilling	•	Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast,	•	No new drilling results are included in this report.
techniques		auger, Bangka, sonic, etc) and details (eg 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 sample	•	Method of recording and assessing core and chip sample recoveries and	•	No new drilling results are included in this report.
recovery		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.
Logging	•	Whether core and chip samples have been geologically and geotechnically	•	No new drilling results are included in this report.
		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.
Sub-sampling	•	If core, whether cut or sawn and whether quarter, half or all core taken.	•	The entire sample received by the laboratory was crushed and pulverised
techniques	•	If non-core, whether riffled, tube sampled, rotary split, etc and whether		to 85% passing 75 micron.
and sample		sampled wet or dry.
preparation	•	For all sample types, the nature, quality and appropriateness of the sample preparation technique.

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Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
	•	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	•	Samples were analysed by Intertek Genalysis in Perth. The sample analysis
assay data		procedures used and whether the technique is considered partial or total.		uses a sodium peroxide fusion with an Inductively Coupled Plasma Mass
and laboratory tests	•	For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and		Spectrometry and Inductively Coupled Plasma (ICP) Mass Spectrometry (MS) and Optical Emission Spectrometry (OES) finish.
		model, reading times, calibrations factors applied and their derivation, etc.
	•	Nature of quality control procedures adopted (eg standards, blanks,
		duplicates, external laboratory checks) and whether acceptable levels of
		accuracy (ie lack of bias) andprecision have been established.
Verification of	•	The verification of significant intersections by either independent or alternative	•	Independent checks or field duplicates were not conducted for rock chips
sampling and		company personnel.		and are not considered necessary for that type of sample.
assaying	•	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.
Location of	•	Accuracy and quality of surveys used to locate drill holes (collar and down-	•	Rock chip sample locations were surveyed using a handheld GPS using
data points		hole surveys), trenches, mine workings and other locations used in Mineral		the UTM coordinate system, with an accuracy of +/-5m.
		Resource estimation.
	•	Specification of the grid system used.
	•	Quality and adequacy of topographic control.
Data spacing	•	Data spacing for reporting of Exploration Results.	•	No new drilling results are included in this report.
and	•	Whether the data spacing and distribution is sufficient to establish the degree
distribution		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.
Orientation of	•	Whether the orientation of sampling achieves unbiased sampling of possible	•	The nature of the surface outcrops of mineralisation appears to be similar
data in		structures and the extent to which this is known, considering the deposit type.		to the mineralisation intersected in drilling, where the interpreted
relation to	•	If the relationship between the drilling orientation and the orientation of key		orientation indicates a true width for the mineralised zone of between 6
geological structure		mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.		and 7m (MWRC004).
Sample	•	The measures taken to ensure sample security.	•	Samples were given individual samples numbers for tracking.
security			•	The sample chain of custody was overseen by the Company’s geologists.

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Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
				Samples were transported to the laboratory in Perth sealed bulka bags.
Audits or	•	The results of any audits or reviews of sampling techniques and data.	•	The sampling techniques and analytical data are monitored by the
reviews				Company’s geologists.
			•	External audits of the data have not been completed.

Section 2 Reporting of Exploration Results

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
Mineral tenement	•	Type, reference name/number, location and ownership including	•	The project area is located 80km northeast of the Gascoyne Junction and
and land tenure		agreements or material issues with third parties such as joint ventures,		230km east of Carnarvon.
status		partnerships, overriding royalties, native title interests, historical sites,	•	The project includes ten granted Exploration Licences, E09/2242, E09/2349,
		wilderness or national park and environmental settings.		E09/2319, E09/2320, E09/2481, E09/2494, E09/2495, E09/2653, E09/2654 and
	•	The security of the tenure held at the time of reporting along with any		E09/2655 as well as two EL applications, E09/2660 and E09/2661.
		known impediments to obtaining a licence to operate in the area.	•	The tenements are held by Kingfisher Mining Ltd.
			•	The tenements lie within Native Title Determined Areas of the Wajarri
				Yamatji People and Gnulli People.
			•	All the tenements are in good standing with no known impediments.
Exploration done	•	Acknowledgment and appraisal of exploration by other parties.	•	No previous systematic exploration for carbonatite-associated
by other parties				mineralisation had been previously completed.
			•	Exploration for base metals at Kingfisher undertaken was by Pasminco Ltd
				in 1994, Mt Phillips Exploration Pty Ltd in 2006 and WCP Resources in 2007.
			•	Exploration for base metals at Mick Well was completed by Helix
				Resources Ltd in 1994, WA Exploration Services Pty Ltd in 1996, Mt Phillips
				Exploration Pty Ltd in 2006 and WCP Resources in 2007.
Geology	•	Deposit type, geological setting and style of mineralisation.	•	The Company’s tenements in the Gascoyne Mineral Field are prospective
				for rare earth mineralisation associated with carbonatite intrusions and
				associated fenitic alteration.
Drill hole	•	A summary of all information material to the understanding of the	•	No new drilling results are included in this report.
Information		exploration results including a tabulation of the following information for all
		Material drill holes:
		o easting and northing of the drill hole collar
		o elevation or RL (Reduced Level – elevation above sea level in metres) of
		the drill hole collar
		o dip and azimuth of the hole
		o down hole length and interception depth
		o hole length.
	•	If the exclusion of this information isjustified on the basis that the

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Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
		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.
Data aggregation	•	In reporting Exploration Results, weighting averaging techniques, maximum	•	No new drilling results are included in this report and no data aggregation
methods		and/or minimum grade truncations (eg cutting of high grades) and cut-off		has been applied.
		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.
Relationship	•	These relationships are particularly important in the reporting of Exploration	•	No new drilling results are included in this report.
between		Results.	•	True width is obscured by thin cover and appears to be similar to intervals
mineralisation	•	If the geometry of the mineralisation with respect to the drill hole angle is		intersected in drilling, 6 to 7m.
widths and		known, its nature should be reported.
intercept lengths	•	If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not
		_known’). _
Diagrams	•	Appropriate maps and sections (with scales) and tabulations of intercepts	•	A map showing relevant data has been included in the report.
		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 rock chip samples of REE mineralisation have been reported. The
reporting		representative reporting of both low and high grades and/or widths should		reported sample batches also included some samples collected as part
		be practiced to avoid misleading reporting of Exploration Results.		of ongoing evaluation of the geology of the area.
Other	•	Other exploration data, if meaningful and material, should be reported	•	All of the relevant historical exploration data has been included in this
substantive		including (but not limited to): geological observations; geophysical survey		report.
exploration data		results; geochemical survey results; bulk samples – size and method of	•	All historical exploration information is available via WAMEX.
		treatment; metallurgical test results; bulk density, groundwater,
		geotechnical and rock characteristics; potential deleterious or
		contaminating substances.
Further work	•	The nature and scale of planned further work (eg tests for lateral extensions	•	On-going exploration in the area is a high priority for the Company.
		or depth extensions or large-scale step-out drilling).	•	Exploration to include tenement-scale acquisition of geophysics data to
	•	Diagrams clearly highlighting the areas of possible extensions, including the		define the extents of carbonatites, mapping and rock chip sampling as
		main geological interpretations and future drilling areas, provided this		well as additional RC drilling.
		information is not commercially sensitive.

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