KINGFISHER MINING LTD — Capital/Financing Update 2023

Jan 17, 2023

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ASX Announcement: 18 January 2023

CORPORATE PROFILE

Shares on issue: 52,650,001 Listed options: 10,450,000 Unlisted options: 10,500,000 Cash: $5.4M (30 September 2022) Market Capitalisation: $25.0M* Debt: Nil

PROJECTS

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

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 $0.475 as of 17 January 2023

Large-Scale Carbonatite REE Targets Identified at Arthur River

12km of Strike Added to Lockier Target Corridor

• Numerous Rare Earth Elements (REE) targets identified at Arthur River, with a large-scale target area that features several circular magnetic and thorium responses which are interpreted to be associated with the intrusion of carbonatites.

• In addition, six large-scale and high priority target areas have been identified with tens of other discrete magnetic features with geophysical signatures similar to other known carbonatite intrusions globally and within the region.

• The newly identified targets add a further 12km of strike to the Lockier target corridor which also hosts the Company's Mooloo project target zone, taking the Company's target corridor on the Lockier shear to a total strike length of 30km. This significantly adds to the Company's already extensive 54km Chalba target corridor which hosts the MW2 discovery.

• A review of historical exploration data is already underway with new targets being ranked and included in the Company's exploration activities for 2023.

Kingfisher Mining Limited ( ASX:KFM ) (“ Kingfisher ” or the “ Company” ) is pleased to announce that it has received the results from its recent tenement-scale magnetics and radiometrics airborne geophysics surveys at its 100% owned Lockier shear projects in the Gascoyne Mineral Field in Western Australia. The latest results are from the Arthur River project area, which is located 30km southwest of Mick Well, where a significant amount of geophysical targets have also been identified and geological mapping has delineated strike lengths of more than 5km of outcropping high grade Rare Earth Elements (REE) mineralisation and where drilling has returned results of 5m at 3.45% TREO (Total Rare Earth Oxides), including 3m at 5.21% TREO at MW2 (see ASX:KFM 5 July 2022).

Kingfisher’s Executive Director and CEO James Farrell commented: “Our tenement-scale airborne geophysics surveys have once again led to the identification of more high quality and large-scale carbonatite targets, including a truly exceptional target which extends for over 9km and is comprised of numerous circular magnetic and thorium

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A B
Inset B
Legend
Geology
Carbonatite complex
Fault
1 km Carbonatite targets
----- End of picture text -----

Total magnetic intensity (A) and thorium responses (B) showing compelling carbonatite targets.

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18 January 2023

ASX Announcement:

features which we interpret to be associated with carbonatite pipes and dykes. This is the most significant and largest geophysical feature we have identified so far, adding significantly to an already impressive pipeline of geophysical targets and zones of outcropping high grade mineralisation.

The new targets are along the Lockier Shear Zone which is approximately 20km to the south and is parallel to the Company’s 54km Chalba target corridor which hosts the high grade REE discoveries near Mick Well. The new targets at Arthur River together with our Mooloo Project extends the Company’s Lockier target corridor strike to 30km; a target zone of significant scale which provides for a second target corridor within our Gascoyne tenure.

We recently announced a series new targets carbonatite targets along the Chalba mineralised corridor, which we hope to see develop into a world-class REE centre. We are now seeing similar high quality targets emerging along the Lockier corridor. We remain amazed that these two mineralised corridors extending over a total of 80km have never before been identified for carbonatites and REE mineralisation and we are extremely excited as to the prospective opportunities ahead of us as we progress our exploration in this emerging region.”

Airborne geophysics are highly effective tools for the identification of carbonatite intrusions and associated mineralisation. The carbonatite intrusion model has a central carbonatite pipe which is comprised of multiple phases of carbonatite intrusion that is surrounded by ring dykes which form around and radial dykes which radiate out from the central intrusion (Figure 1). The carbonatite exploration model envisages alteration of the host country rock into which the carbonatites intrude, with development of Sodic (Na) and Potassic (K) fenites around the intrusions which often hosts the REE mineralisation (Figure 2). Figure 1: Each part of the carbonatite system has characteristics which can be detected by geophysics, for example:

Figure 1: 3D schematic of a carbonatite intrusion[+]

• Thorium associated with the REE mineralisation is apparent in the radiometrics.

• Potassium fenites, the alteration which forms around carbonatites intrusions, is also apparent in the radiometrics.

• Ferrocarbonatites have high iron content and can appear as magnetic highs in the geophysics.

• Aster can detect various minerals and elements, including carbonates, ferrous and ferric iron as well as alumina and magnesium and can assist with of carbonatites and associated alteration.

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The combination of these geophysical responses to the carbonatite geology make it a very powerful combination of tools for early stage targeting and project generation.

Figure 2: 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.

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Including the very large (approximately 9km) target area, there are seven large-scale high priority target areas that have been identified from the interpretation of the geophysics surveys, with each target selected from a combination of magnetic, potassium and thorium features (Figure 3 and Figure 4). Tens of other smaller circular features have also been identified in the magnetic data; each of these high magnetic features, particularly where clustered or where colocated with high thorium responses are of interest to the Company for future project generation work.

All of the prioritised targets cover a substantial area, with the smallest LK3 being more than 2.2km long and 1km wide. The largest target, LK1, is particularly significant, and is more than 9km long and more than 6.5km wide. LK1 is also comprised of multiple circular features which are defined by the magnetics and thorium, with the ring-shaped thorium feature (Figure 1 and Figure 4) having a diameter of 1.7km.

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Legend
Geology
Carbonatite complex
Fault
LK1 Carbonatite targets
Booree Creek
LK2
LK3
LK6
LK4 Arthur River
LK5
LK7
2 km
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Figure 3: Total magnetic intensity for the Arthur River priority carbonatite targets and interpreted faults. Targets are labelled LK1 to LK7 and were selected based on the magnetic, thorium and potassium responses from the airborne geophysics surveys. The location of the Arthur River tenements along with the Company’s other tenements in the Gascoyne region is shown in the inset.

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ASX Announcement:
18 January 2023
Legend
Geology
Carbonatite complex
Fault
LK1 Carbonatite targets
Booree Creek
LK2
LK3
LK6
LK4 Arthur River
LK5
LK7
2 km
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Figure 4: Thorium response from the airborne geophysics survey showing priority carbonatite targets and interpreted faults. High thorium responses are typically associated with carbonatite-related REE mineralisation.

High priority targets LK1, LK2, LK3, LK4 and LK7 have already been selected for surface mapping and sampling due to the presence of interpreted carbonates and circular or oval-shaped features which are indicative of intrusion pipes. The identification of the targets from geophysics is an important early part of the discovery process, with all of the targets to be ranked and included in the Company’s project generation activities in 2023 and beyond.

The targets identified from the recently completed geophysics surveys have extended the Company’s target corridor along the Lockier Shear Zone by 12km to a total strike length of 30km. This builds significantly on the previously announced strike length of 18km at the Mooloo Project for the Lockier target corridor (see ASX:KFM 15 November 2022); a zone which is located approximately 20km south of the parallel Chalba target corridor (Figure 5).

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Figure 5: Aerial image of the Kingfisher, Mick Well and Arthur River Projects. Kingfisher is targeting REE mineralisation associated carbonatite intrusions which intrude along the Chalba and Lockier shear zones which extend for 54km and 30km within the Company’s tenure.

Gascoyne Exploration Program

Kingfisher carried out extensive and targeted exploration programs for its Gascoyne projects during 2022. The Company’s exploration work is cost-effective and is aiming to develop and test drill targets from ground-based mapping and rock sampling. The Company is also simultaneously developing a pipeline of exploration opportunities through integrating tenement-scale airborne geophysical surveys with geological knowledge from the Company’s breakthrough REE discovery at Mick Well. The geophysical survey from the 54km Chalba corridor is an important part of this generative work.

Planning is well advanced for the Company’s exploration activities for 2023 at its Gascoyne projects. It is envisaged the 2023 exploration activities will include drilling at MW2, MW7, MW8 as well as substantial project generation work at the CH1 to CH10 targets along the 54km Chalba target corridor and the LK1 to LK7 targets along the 30km Lockier target

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ASX Announcement: 18 January 2023

corridor. The 2023 exploration activities are also likely to include airborne geophysics across the Mooloo project. The Company’s exploration plans for 2023 will be announced shortly.

Upcoming News

• January 2023: Exploration activities for 2023.

• January 2023: Results from ongoing surface mapping and rock chip sampling in the Mick Well area.

• January 2023: First assay results from MW2 drilling.

• February 2023: Additional assay results from MW2 drilling.

• February 2023: Results from Arthur River project generation review.

About the Arthur River, Mick Well and Kingfisher Projects

The Arthur Project is located approximately 205km east of Carnarvon and 30km southwest of the Company’s Mick Well Project 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 Company 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.

Geology mapping and sampling of the REE mineralisation at MW2 has returned rock chip results of over 40% TREO and resulted in the delineation of five parallel lodes of outcropping mineralisation within a 300m wide mineralised zone. Kingfisher’s discovery drilling in the MW2 area has returned high grade monazite mineralisation with 5m at 3.45% TREO, including 3m at 5.21% TREO as well as 12m at 1.12% TREO, with 4m at 1.84% TREO. The mineralisation is associated with broad zones of potassium, sodic and mafic fenite, which are alteration styles that are associated with the intrusion of carbonatites.

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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: 18 January 2023

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 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 lengths of more than 54km along the Chalba mineralised corridor and more than 18km 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: Assays from MW7 Confirm Another High Grade REE Discovery 29 November 2022.

ASX:KFM: New 18km REE Target Corridor Added to Kingfisher’s Gascoyne Projects 15 November 2022.

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.

• Simandl, G. J. & Paradis, S. 2008. Carbonatites: related ore deposits, resources, footprint, and exploration methods. Applied Earth Science , 127:4, 123-152.

• 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.

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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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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	•	The survey was flown by MagSpec Airborne Surveys and included 11,875
techniques		specialised industry standard measurement tools appropriate to the minerals		line km for the Kingfisher, Mick Well and Arthur River areas.
		under investigation, such as down hole gamma sondes, or handheld XRF	•	Nominal flight line spacings were 50m, with tie lines at 500m spacings. The
		instruments, etc). These examples should not be taken as limiting the broad		nominal sensor height was approximately 30m.
		meaning of sampling.	•	Magnetics data was acquired with a G-823A caesium vapour
	•	Include reference to measures taken to ensure sample representivity and the		magnetometer, with a 20Hz sample rate (approximately 3.5m).
		appropriate calibration of any measurement tools or systems used.	•	The radiometrics survey used a G-823A caesium vapour magnetometer
	•	Aspects of the determination of mineralisation that are Material to the Public		with a 2Hz sample rate (approximately 35m).
		Report.
	•	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.	•	Data processing was undertaken MagSpec Airborne Surveys and by the
techniques	•	If non-core, whether riffled, tube sampled, rotary split, etc and whether		Company’s geophysics consultant, Mira Geoscience Asia Pacific Pty Ltd.
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	•	During flight, the pilot monitored system health from prompts on the
assay data		procedures used and whether the technique is considered partial or total.		navigation screen. The diurnal base stations were monitored by ground
and laboratory	•	For geophysical tools, spectrometers, handheld XRF instruments, etc, the		crew.
tests		parameters used in determining the analysis including instrument make and	•	Upon completion of each flight all survey data were transferred from the
		model, reading times, calibrations factors applied and their derivation, etc.		acquisition system to the infield data processing computer. Using
	•	Nature of quality control procedures adopted (eg standards, blanks,		customised techniques, the data were checked for any errors and
		duplicates, external laboratory checks) and whether acceptable levels of		compliance with specifications.
		accuracy (ie lack of bias) andprecision have been established.
Verification of	•	The verification of significant intersections by either independent or alternative	•	Independent verification of the data was completed by Mira Geoscience
sampling and		company personnel.		Asia Pacific Pty Ltd.
assaying	•	The use of twinned holes.	•	No issues were identified with the data.
	•	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-	•	Flight paths were logged with an Integrated Novatel OEM719 DGPS receiver.
data points		hole surveys), trenches, mine workings and other locations used in Mineral	•	Navigation information supplied to the pilot via an LCD steering indicator.
		Resource estimation.		All data were synchronised to a one pulse per second triggered by the GPS
	•	Specification of the grid system used.		time.
	•	Quality and adequacy of topographic control.
Data spacing	•	Data spacing for reporting of Exploration Results.	•	The survey included 11,875 line km.
and	•	Whether the data spacing and distribution is sufficient to establish the degree	•	Nominal flight line spacings were 50m, with tie lines at 500m spacings. The
distribution		of geological and grade continuity appropriate for the Mineral Resource and		nominal sensor height was approximately 30m.
		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	•	Flight lines were generally perpendicular to the strike of the target
data in		structures and the extent to which this is known, considering the deposit type.		geology.
relation to	•	If the relationship between the drilling orientation and the orientation of key
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.	•	Digital data was transferred using secured file transfer sites.
security			•	No physical samples were collected.

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• Criteria JORC Code explanation Commentary Audits or • The results of any audits or reviews of sampling techniques and data. • Independent data verification was completed daily during the survey by reviews Mira Geoscience Asia Pacific Pty Ltd.

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 twelve granted Exploration Licences, E09/2242,
		wilderness or national park and environmental settings.		E09/2349, E09/2319, E09/2320, E09/2481, E09/2494, E09/2495, E09/2653,
	•	The security of the tenure held at the time of reporting along with any		E09/2654 and 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 carbonatite-associated
by other parties				mineralisation had been previously completed.
			•	Exploration at Booree Creek has been undertaken by Paladin Resources in
				1997 and 1998 for uranium as well as Talisman Mining in Joint Venture with
				Rio Tinto between 2001 and 2003 and Baranco Resources between 2006
				and 2010 for base metals.
			•	Historical exploration at Arthur River has been focused on copper.
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 is justified on the basis that the
		information is not Material and this exclusion does not detract from the
		understanding of the report, the Competent Person should clearly explain
		why this is the case.

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Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
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.
mineralisation	•	If the geometry of the mineralisation with respect to the drill hole angle is
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 of the geophysical survey results are included in this report.
reporting		representative reporting of both low and high grades and/or widths should
		bepracticed to avoid misleading reporting of Exploration Results.
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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