KINGFISHER MINING LTD — Capital/Financing Update 2023

Sep 10, 2023

0

ASX Announcement: 11 September 2023

CORPORATE PROFILE

Shares on issue: 53,715,001 Listed options: 14,850,001 Unlisted options: 11,885,000 Cash: $3.4M (30 June 2023) Market Capitalisation: $10.7M* Debt: Nil

PROJECTS

MICK WELL AND KINGFISHER

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

Multiple Stacked Lithium-Bearing Pegmatites Mapped at Chalby Chalby

Initial Results up to 0.61% Li2O

• More than 11,000m strike length of outcropping pegmatites mapped at Chalby Chalby.

• Initial assays up to 0.61% Li2O from multiple stacked pegmatites highlight significant lithium grade continuity.

• Chalby Chalby is along strike from known Thirty Three Suite pegmatites at Minerals 260’s (ASX:MI6) Pyramid Hill Prospect. The Thirty Three Suite pegmatites are also the host of lithium mineralisation at Delta Lithium’s (ASX:DLI) Yinnetharra Project.

• Rock chip results from Chalby Chalby include:

• 0.61% Li2O (MWGS2784)

• 0.46% Li2O (MWGS2780)

• 0.37% Li2O (MWGS2777)

• 0.26% Li2O (MWGS2772)

BOOLALOO

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

• 0.26% Li2O (MWGS2788)

• 0.26% Li2O (MWGS2781)

• 0.25% Li2O (MWGS2783)

CORPORATE DIRECTORY

WARREN HALLAM

Non-Executive Chairman

JAMES FARRELL

Executive Director and CEO

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 $0.20 as of 8 September 2023

• Follow-up soil sampling to assist with defining additional targets for drilling is scheduled to commence across the initial 3.3km by 3km Chalby Chalby prospect area.

• Airborne geophysical surveys have been completed across the Company’s Chalba and Mooloo tenements and provide new and valuable information for on-going targeting using response signatures from the Chalby Chalby pegmatites.

Kingfisher Mining Limited ( ASX:KFM ) (“ Kingfisher ” or the “ Company” ) is pleased to announce the additional results from its early-stage exploration targeting lithium-bearing pegmatites in the Chalba area of the highly prospective Gascoyne Province.

Kingfisher’s Executive Director and CEO James Farrell commented: “The latest results from Chalby Chalby highlight the significant potential for the discovery of lithium-bearing pegmatites within the Company’s Gascoyne tenure.

==> picture [183 x 243] intentionally omitted <==

----- Start of picture text -----

6m wide pegmatite outcrop at 394 883mE, 7 255 749mN
----- End of picture text -----

We have mapped pegmatites over 11km of strike at Chalby Chalby in an area which covers just 1% of our extensive Gascoyne tenure. Our mapping has also identified two other areas in addition to Chalby Chalby that have significant pegmatite intrusions, with individual pegmatites that are up to 50m thick. On-going exploration in these areas alongside our exciting exploration for high grade rare earth elements is now a priority for the Company.

We have also recently flown additional geophysical surveys across our Gascoyne tenure, completing the high resolution geophysics coverage for our tenure and providing valuable insights for the on-going targeting of rare earth elements and lithium”.

www.kingfishermining.com.au

1

ASX KFM

ASX Announcement: 11 September 2023

Chalby Chalby Lithium Exploration

Kingfisher has received further results from the initial exploration for lithium-bearing pegmatites at its Chalby Chalby Prospect in the highly prospective Gascoyne Region of Western Australia. The Chalby Chalby pegmatite field includes more than 11km of strike of mapped pegmatites and covers an area of 3.3km by 3km. The new results are from an area with multiple stacked pegmatites, each up to 10m thick with continuous anomalous results over 0.1% Li2O with a peak of 0.61% Li2O. The analytical results also indicate that the pegmatites are fractionating and fertile for forming lithium mineralisation, highlighting the potential for the discovery of spodumene mineralisation in more well-developed and fractionated areas either along strike or down-dip at depth (Figure 1).

==> picture [525 x 390] intentionally omitted <==

----- Start of picture text -----

Chalby Chalby
Legend
Geology Rock Chips: Li2O
Durlacher Granite >1000 ppm
500-1000 ppm
Pegmatite Dyke
400-500 ppm
300-400 ppm
Tenements 200-300 ppm
250 m Kingfisher Mining <200 ppm
----- End of picture text -----

Figure 1: Mapped pegmatites at Chalby Chalby and Li2O results from rock chip samples. The location of the pegmatites relative to known Thirty Three Suite Pegmatites is shown in Figure 2.

Significant new lithium rock chips results from the Chalby Chalby area are shown below. The full lithium assay results together with caesium and rubidium, which can be indicative of LCT-type pegmatites, are included in Annexure 1.

• 0.61% Li2O (MWGS2784)

• 0.46% Li2O (MWGS2780)

• 0.37% Li2O (MWGS2777)

• 0.26% Li2O (MWGS2772)

2

www.kingfishermining.com.au

ASX KFM

ASX Announcement: 11 September 2023

• 0.26% Li2O (MWGS2788)

• 0.26% Li2O (MWGS2781)

• 0.25% Li2O (MWGS2783)

• 0.23% Li2O (MWGS2778)

• 0.21% Li2O (MWGS2766)

• 0.21% Li2O (MWGS2786)

• 0.21% Li2O (MWGS2792)

• 0.16% Li2O (MWGS2794)

• 0.16% Li2O (MWGS2793)

• 0.15% Li2O (MWGS2779)

The Chalby Chalby pegmatite field occurs at a similar position off the exposure of the Durlacher Granite as the Thirty Three Suite Pegmatites of Minerals 260 Limited’s Pyramid Hill prospect (Figure 2), where a 5km long lithium soil anomaly has recently been reported (see ASX:MI6 4 September 2023).

Recent exploration by Delta Lithium Limited has highlighted the potential of the Gascoyne Thirty Three Suite Pegmatites to host potentially economic lithium mineralisation. Significant and high grade spodumene-bearing mineralisation has been reported from Delta Lithium’s Yinnetharra Project, which is located 40km northeast of the Company’s Chalba projects. Recent exploration results from Yinnetharra include drill results of 33m at 1.9% Li2O[*] from the Malinda Prospect and rock chips results from Jamesons Prospect that include 4.2% Li2O[+] (Figure 3).

==> picture [525 x 326] intentionally omitted <==

----- Start of picture text -----

Legend
Geology
Halfway Gneiss
Chalby Chalby Durlacher Granite
Moorarie Granite
Pyramid Hill Carnarvon Basin (cover)
Thirty Three Suite Pegmatite
Mapped Pegmatite
Tenements
Kingfisher Mining
Chalby Chalby Minerals 260 (Aston Project)
Figure 1
MW2
LK1
Mick Well
5 km
----- End of picture text -----

Figure 2: Simplified geology of Kingfisher’s Gascoyne projects showing the location of the Company’s Chalby Chalby lithium target and Thirty Three Suite Pegmatite at Minerals 260’s Pyramid Hill (Aston Project). The location of the hardrock REE discovery at MW2, clay REE discovery at Mick Well and the large LK1 carbonatite target are also shown.

3

www.kingfishermining.com.au

ASX KFM

ASX Announcement: 11 September 2023

==> picture [503 x 609] intentionally omitted <==

Figure 3: Location of Kingfisher’s tenements in the highly prospective Gascoyne Mineral Field. The locations of Delta Lithium’s Yinnetharra Project (Malinda and Jamesons Prospects) and Minerals 260’s Aston Project (Pyramid Hill) are also shown. Application tenements will be awarded by ballot between Kingfisher and several other companies.

4

www.kingfishermining.com.au

ASX KFM

ASX Announcement: 11 September 2023

Next Steps - Lithium

A soil geochemistry program to define sub cropping and undercover targets is scheduled to commence in the coming weeks, with results expected during Q4 of 2023. The result of this geochemistry and other surface mapping and sampling across the tenure will guide the targeting for drill testing.

Gascoyne Rare Earths Exploration Program

Kingfisher is also continuing its high impact and value building exploration programs targeting large-scale carbonatite targets along its 54km Chalba target corridor and its 30km long Lockier target corridor. The program is testing high priority carbonatite targets across the Company’s belt-scale tenement holding, building upon the significant carbonatite discoveries, which has confirmed the presence of large scale, high grade REE mineralisation along the Chalba target corridor.

The exploration work planned for the 2023 field season includes:

• Significant on-ground mapping and sampling targeting interpreted “Mt Weld style” carbonatite plugs as well as dyke mineralisation and alteration which can be used to vector towards the large-scale source of intrusions. The results will be used for drill planning of the high priority targets.

• RC drilling to test carbonatite targets at Mick Well, Kingfisher and Arthur River.

• Ground-based gravity at LK1 and Mick Well. The gravity survey will be used to model higher density rocks (potential mineralised carbonatites) at depth.

• Surface geochemical survey over the large-scale high priority LK1 target at Arthur River, where mapping is restricted by deep weathering associated with the highly altered rocks and cover.

• Surface geochemistry at Chalby Chalby to define additional lithium-bearing pegmatite drill targets.

• Further airborne geophysics to incorporate Mooloo and North Chalba Projects to our early-stage target generation. Magnetics and radiometrics are highly effective for identifying carbonatite mineralisation.

The timeline for the planned and completed activities for 2023 for Kingfisher’s projects are shown below.

Q1 2023	Q2 2023	Q3 2023	Q4 2023
Mick Well – Kingfisher
Targetgeneration
Fieldwork,mappingand targetprogression
Ground-basedgravity
Arthur River
Targetgeneration
Fieldwork,mappingand targetprogression
Surfacegeochemistry (LK1)
RC Drilling
Ground-basedgravity
Mooloo
Airborne magnetics and radiometrics
Fieldwork,mappingand targetprogression
Chalba
Airborne magnetics and radiometrics
Surfacegeochemistry (ChalbyChalbyLithium)
Boolaloo
Fieldwork,mappingand targetprogression

5

www.kingfishermining.com.au

ASX KFM

ASX Announcement: 11 September 2023

Upcoming News

• September 2023: Results from on-going surface mapping and sampling targeting large-scale carbonatite intrusions along the 54km long Chalba target corridor.

• September 2023: Results from target generation gravity survey at LK1.

About the Kingfisher’s Gascoyne Projects

The Mick Well and Kingfisher Projects are located approximately 230km east of Carnarvon, in the Gascoyne region of Western Australia where the Company holds exploration licences covering 969km[2] . The geological setting of the tenure is similar to Hastings Technology Metals’ world-class Yangibana Deposit which includes 29.93Mt at 0.93% TREO[# ] as well as the recent Yin discovery of Dreadnought Resources which includes mineral resources of 20.06Mt at 1.03% TREO[^] . The tenure is also prospective for lithium-bearing Thirty Three Suite Pegmatites which hosts Delta Lithium’s Yinnetharra Project and has returned drill results of 33m at 1.9% Li2O[*] from Delta’s Malinda Prospect and rock chips results of 4.2% Li2O[+] from Delta’s Jamesons Prospect.

Kingfisher recently made discoveries of hard rock and clay rare earth elements mineralisation at Mick Well. Both styles of mineralisation are associated with carbonatites that intruded along a crustal-scale structural corridor, the Chalba Shear, which extends over a strike length of 54km within the Company’s tenure. The Company has also identified a second structural corridor along the Lockier Shear which extends for 18km across the Company’s Mooloo Project and 12km across the Arthur River Project.

Drilling at the MW2 Prospect has intersected five parallel ferrocarbonatite lodes and associated monazite mineralisation within a 300m wide zone and has returned high-grade REE results with 5m at 2.63% TREO with 0.54% Nd2O3 + Pr6O11, 4m at 3.24% TREO with 0.54% Nd2O3 + Pr6O11, 5m at 1.54% TREO with 0.30% Nd2O3 + Pr6O11, 4m at 1.90% TREO with 0.34% Nd2O3 + Pr6O11 and 3m at 2.52% TREO with 0.41% Nd2O3 + Pr6O11. The results from the ferrocarbonatite mineralisation is 500m northwest of Kingfisher’s breakthrough REE discovery where maiden drilling returned 5m at 3.45% TREO with 0.65% Nd2O3 + Pr6O11 as well as 12m at 1.12% TREO with 0.21% Nd2O3 + Pr6O11 from a separate mineralised lode.

Mapping and sampling for lithium at the Company’s Chalby Chalby project has delineated an area of 3.3km by 3km that has multiple stacked pegmatites with surface sample results up to 0.61% Li2O.

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

6

www.kingfishermining.com.au

ASX KFM

ASX Announcement: 11 September 2023

Company’s tenements and tenement applications cover 1,676km[2] in the underexplored Ashburton and Gascoyne Mineral Fields.

The Company has made a number of breakthrough high grade rare earth elements discoveries in the Gascoyne region where it holds a target strike lengths of more than 54km along the Chalba mineralised corridor and more than 30km along the Lockier mineralised corridor. The Company has also 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: Carbonatite Intrusions Confirmed at Large-Scale Chalba Targets 10 July 2023.

• ^ ASX Announcement ‘40% Increase in Resource Tonnage at Yin – Mangaroon (100%)’. Dreadnought Resources Limited (ASX:DRE), 5 July 2023.

• 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.

• ASX Announcement ‘Stunning new drilling results from Yinnetharra’. Delta Lithium Limited (ASX:DLI), 23 June 2023.

• • ASX Announcement ‘Yinnetharra Lithium Project Continues to Deliver’. Red Dirt Metals Limited (ASX:RDT), 14 April 2023.

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.

Cautionary Statement

The presence of pegmatites and even anomalous assay results does not confirm the presence of lithium in spodumene. Pegmatites are coarse grained igneous rocks and many pegmatites do not contain appreciable or economic quantities of spodumene mineralisation. The presence of lithium mineralisation can only be confirmed with assaying and spodumene has not yet been identified by the Company’s geologists.

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.

7

www.kingfishermining.com.au

ASX KFM

ASX Announcement:

11 September 2023

Annexure 1: Rock Chip Sample Information

Sample ID	Easting	Northing	Geology	Be	Cs	Li	**Li2O **	Nb	Rb	Sn	Ta
MWGS2765	394764	7255863	Pegmatite	4	8.1	7	15	77	609.5	9	22.2
MWGS2766	394767	7255860	Micaceous pegmatite	21	94.5	994	2140	18	1524.0	10	4.7
MWGS2767	394883	7255749	Pegmatite	5	8.9	19	41	78	461.7	9	52.3
MWGS2768	394584	7256549	Pegmatite	6	2.9	7	15	25	273.2	-	15.8
MWGS2769	394227	7256270	Pegmatite	4	15.0	-	-	64	923.5	5	53.8
MWGS2770	394629	7255681	Pegmatite	11	8.8	12	26	62	526.1	16	38.5
MWGS2771	393565	7256109	Pegmatite	3	21.2	-	-	51	1086.4	-	37.3
MWGS2772	393565	7256106	Micaceous pegmatite	24	318.7	1224	2635	14	3325.6	5	3.3
MWGS2773	393563	7256161	Pegmatite	5	45.4	-	-	29	1460.3	-	52.3
MWGS2774	393493	7256149	Micaceous pegmatite	20	90.8	309	665	20	1768.0	12	10.1
MWGS2775	393687	7255948	Pegmatite	9	47.7	-	-	16	1510.9	-	22.3
MWGS2776	394797	7255851	Pegmatite	3	9.0	7	15	64	825.0	11	13.8
MWGS2777	394783	7255897	Micaceous pegmatite	6	195.9	1732	3729	28	3024.6	9	2.2
MWGS2778	394755	7255953	Micaceous pegmatite	19	141.8	1060	2282	50	2013.9	23	9.3
MWGS2779	394791	7255969	Micaceous pegmatite	14	60.7	697	1501	41	1531.0	20	11.9
MWGS2780	394732	7256023	Micaceous pegmatite	22	101.6	2147	4622	35	2278.4	7	2.5
MWGS2781	394698	7256051	Micaceous pegmatite	15	58.8	1194	2571	57	1842.3	24	7.5
MWGS2782	394668	7256061	Pegmatite	4	6.7	15	32	82	471.1	8	22.6
MWGS2783	394609	7256212	Micaceous pegmatite	9	199.3	1151	2478	34	2594.0	57	2.3
MWGS2784	394690	7255987	Micaceous pegmatite	7	352.2	2828	6089	44	4378.7	21	2.7
MWGS2785	394612	7256263	Micaceous pegmatite	26	68.4	464	999	45	1747.4	38	13.9
MWGS2786	394705	7256271	Micaceous pegmatite	61	170.8	962	2071	25	2324.8	10	4.6
MWGS2787	394705	7256271	Pegmatite	6	5.5	11	24	91	397.8	11	32.2
MWGS2788	393690	7255953	Micaceous pegmatite	105	717.2	1224	2635	-	3977.5	8	0.7
MWGS2789	393684	7255965	Pegmatite	3	38.2	-	-	50	1306.1	4	27.0
MWGS2790	393660	7255844	Pegmatite	112	16.0	-	-	51	513.9	2	36.1
MWGS2791	393585	7255750	Pegmatite	7	3.7	-	-	199	85.5	6	38.6
MWGS2792	393702	7256116	Micaceous pegmatite	143	512.2	959	2065	28	3146.8	9	5.3
MWGS2793	393693	7256061	Micaceous pegmatite	20	623.9	729	1570	39	3399.1	15	16.4
MWGS2794	393701	7256092	Micaceous pegmatite	33	344.1	735	1582	25	1933.2	11	13.7
MWGS2795	393654	7256160	Micaceous pegmatite	18	490.8	692	1490	39	2484.6	23	16.4
MWGS2796	393655	7256159	Pegmatite	15	91.9	89	192	38	951.4	20	28.5
MWGS2797	393662	7256176	Pegmatite	64	19.4	14	30	77	236.0	12	76.5
MWGS2798	393440	7255736	Micaceous pegmatite	14	126.9	312	672	63	1478.5	20	43.5
MWGS2799	393441	7255738	Pegmatite	8	48.5	115	248	48	691.7	12	45.1
MWGS2800	393444	7255738	Pegmatite	4	120.5	5	11	30	2140.9	2	10.6

All sample information is parts per million (ppm). 1,000 ppm is equal to 0.1%.

8

www.kingfishermining.com.au

ASX KFM

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.

9

ASX KFM

www.kingfishermining.com.au

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.	•	Li2O is derived by multiplying Li by 2.153.
	•	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	•	Rock chip samples are collected to represent the outcrop. Where different
data in		structures and the extent to which this is known, considering the deposit type.		material types are present within the pegmatites, separate samples were
relation to	•	If the relationship between the drilling orientation and the orientation of key		collected to ensure each material is represented.
geological structure		mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.
Sample	•	The measures taken to ensure sample security.	•	Samples were given individual samples numbers for tracking.
security			•	The sample chain of custody was overseen by the Company’s geologists.

10

ASX KFM

www.kingfishermining.com.au

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 12 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,
	•	The security of the tenure held at the time of reporting along with any		E09/2655, 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 lithium mineralisation has been
by other parties				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 as well as lithium associated with pegmatite
				dykes.
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.

11

ASX KFM

www.kingfishermining.com.au

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
	•	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.
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.	•	Pegmatite outcrops range in thickness from 0.5m to more than 30m. True
mineralisation	•	If the geometry of the mineralisation with respect to the drill hole angle is		width is occasionally obscured by thin cover.
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 from the pegmatites 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.

12

ASX KFM

www.kingfishermining.com.au