KINGFISHER MINING LTD — Interim / Quarterly Report 2021

Oct 19, 2021

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ASX Announcement: 20 October 2021

ASX CODE: KFM

Shares on issue: 42,250,001 Cash: $4.0M (30 September 2021) Debt: Nil

PROJECTS

Boolaloo: Copper-Gold Kingfisher: Copper-Base Metals Mick Well: Copper-Base Metals Arthur River: Copper

CORPORATE DIRECTORY

WARREN HALLAM Non-Executive Chairman

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 W: www.kingfishermining.com.au

Unit 2, 106 Robinson Avenue Belmont WA 6104 AUSTRALIA

QUARTERLY ACTIVTIES REPORT FOR THE PERIOD ENDING 30 SEPTEMBER 2021

• RC drill testing of seven priority targets at Boolaloo, Kingfisher and Mick Well is underway.

• Helicopter-borne electromagnetic survey at Kingfisher and Mick Well projects identified five new bedrock conductors which were within the range of possible responses expected for volcanogenic massive sulphide base metal mineralisation.

• Three new discrete bedrock conductors identified from the airborne electromagnetic survey at Boolaloo including a conductor which highlighted potential strike extensions of the Erny Bore Prospect.

• Rock chip sampling program at Boolaloo identified three new areas of mineralisation, including the new Green Hills Prospect, and returned highgrade assays with results up to 37.8% copper and 5.74g/t gold.

• Assay results received for Boolaloo maiden diamond drilling program, with up to 2.68% Cu and 0.49g/t Au over 0.85m, within a broader zone of 10.05m at 0.84% Cu and 0.11 g/t Au at Copper Strike.

Kingfisher Mining Limited ( ASX:KFM ) (“ Kingfisher ” or the “ Company” ) is pleased to provide an update on its activities during the September 2021 Quarter.

Commenting on the Company’s activities during the Quarter, Kingfisher’s Executive Director and CEO James Farrell said: “During the Quarter, the Company consolidated the numerous exploration activities undertaken over the past 12 months with the return of assays, maiden drill results, hyperspectral survey results and airborne geophysics leading to the identification of new mineralisation and producing numerous new targets. This work has enabled the Company to plan and commence a comprehensive and focused drill program across its projects.

Assays received from the maiden diamond drill program and from the on-going rock chip sampling and surface mapping at Boolaloo resulted in the discovery of three new occurrences of high-grade mineralisation, including the new Green Hills Prospect. The results from the regional-scale airborne electromagnetic surveys at the Company’s Ashburton and Gascoyne projects were also received and produced nine exciting bedrock conductors.

The Company has now defined seven priority targets at Boolaloo, Mick Well and Kingfisher and commenced an RC drilling program to test these targets. The drilling is scheduled to be completed towards the end of October, with assay results likely to become available late in the December Quarter.

Exploration work at the Company’s projects will continue at a fast pace in Quarter 4, with surface mapping and sampling planned for newly identified and high-priority areas at Boolaloo as well as geochemical sampling targeting rare earth elements associated with mapped pegmatite dykes in the Gascoyne region.”

GPO Box 2517 Perth WA 6831 AUSTRALIA

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COMPANY PROJECTS

Kingfisher has four wholly owned projects in Western Australia. The Company’s flagship Boolaloo Project located in the Ashburton Mineral Field, approximately 35km from the Paulsens gold mine, which has a number of exciting copper and gold exploration targets. The Kingfisher, Mick Well and Arthur River Projects located in the Gascoyne region and are prospective for volcanogenic massive sulphide style mineralisation, with copper mineralisation at Kingfisher exposed in a series of shallow historical exploration pits over a strike length of over 2km.

All of the projects have limited historical exploration which has identified numerous zones of mineralisation. The Company has further identified a number of high-quality targets and has added to its portfolio by acquiring additional tenure. The tenure now covers significant strike extents of the target mineralised structures within these emerging regions, covering in excess of 50km in the Gascoyne Mineral Field and 30km in the Ashburton Basin.

BOOLALOO PROJECT

The Boolaloo copper-gold and base metal project is located approximately 160km west of Paraburdoo and 35km southwest of the Paulsen's gold mine in the Ashburton region of Western Australia (Figure 1). The Company has pegged exploration licences over the potential strike extents of the interpreted mineralised structures, giving a significant strategic holding in an emerging province and tenure which now covers more than 30km of strike of the interpreted mineralised structures.

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Figure 1: Location of the Boolaloo Project in the Ashburton Mineral Field showing the K16, Copper Strike and Erny Bore Prospects and the Company’s tenure. Selected tenements of other companies active in the Ashburton Basin are also shown. Refer to the previous announcements section of this release for detailed information on past production[i] and resources[ii] of the Paulsens Gold Mine and the Mt Clement Project[iii] .

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Past exploration has established the potential for the discovery of copper mineralisation at the project, with previous reverse circulation (RC) and recent diamond drilling returning very encouraging results which include:

• 4m @ 1.06% Cu & 1.40 g/t Au from 109m, including 1m @ 1.41% Cu & 2.70 g/t Au from 110m (MIRC002)[ 1] ;

• 3m @ 1.83% Cu & 1.12 g/t Au from 96m, including 1m @ 3.14% Cu & 1.38 g/t Au from 96m (MIRC004)[ 1] ;

• 2m @ 1.44% Cu & 1.36 g/t Au from 137m, including 1m @ 2.28% Cu & 2.28 g/t Au from 138m (MIRC009)[ 1] ;

• 3m @ 3.05% Cu & 0.57 g/t Au from 63m, including 2m @ 3.90% Cu & 0.77 g/t Au from 63m (MIRC013)[1] ; and

• 2m @ 3.81% Cu & 0.62 g/t Au from 62m (MIRC027)[2] .

• 10.05m at 0.84% Cu and 0.11 g/t Au from 23.15m, including 2.7m at 1.45% Cu and 0.14 g/t Au from 23.15m and 0.85m at 2.68% Cu and 0.49 g/t Au from 32.35m (BLDD003).

Past exploration has also established significant mineralisation strike lengths at K15 and K16, with the K16 mineralised zone being intersected over a strike length of 1.5km.

Regional Mapping and Rock Chip Sampling

During the Quarter, Kingfisher announced it had received high-grade copper and gold results from its ongoing extensive regional mapping and rock chip sampling program at Boolaloo (see ASX announcements 5 July 2021 and 9 September 2021). The program is targeting copper and gold mineralisation within laterally extensive alteration corridors identified by the Company during Q1 2021 (see ASX announcement 17 February 2021). The work has also been designed to assist the Company to build its understanding of the regional geology and mineralisation potential within this emerging copper province.

Significant rock chip sample results received in the quarter are listed below.

New mineralisation discovery: Green Hills Prospect (photographs 1 and 2):

• BLGS0233: 2.32% Cu and 0.04 g/t Au

• BLGS0240: 24.30% Cu and 0.59 g/t Au

• BLGS0241: 5.84% Cu and 1.23 g/t Au

• BLGS0247: 4.90% Cu and 0.29 g/t Au

Other new mineralisation discoveries (photographs 3 and 4):

• BLGS0102: 4.81% Cu and 0.47 g/t Au

• BLGS0134: 18.3% Cu and 2.04 g/t Au

Minga Bore:

• BLGS0003: 14.7% Cu and 1.48 g/t Au

Copper Strike:

• BLGS0068: 37.8% Cu and 2.57 g/t Au

• BLGS0072: 2.43% Cu and 0.1 g/t Au

• BLGS0083: 9.65% Cu and 0.57 g/t Au

• BLGS0090: 10.6% Cu and 2.36 g/t Au

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Eagles Rest (photograph 5):

• BLGS0217: 5.73% Cu and 5.74 g/t Au

Lag Anomaly:

• BLGS0192: 7.06% Cu and 0.52 g/t Au

The results returned this quarter confirmed the discovery of three new areas of outcropping copper and gold mineralisation, including the new Green Hills Prospect. Significant copper and gold results were also returned from infill sampling at the Eagles Rest Prospect and from a newly identified parallel structure at the Lag Anomaly Prospect. The recently returned rock chip sample results also included infill samples from Copper Strike which returned gold assays greater than 2 g/t Au, exceeding the Company's expectation of the gold potential of the Prospect. Results from all of the rock chip samples received to date are shown in Figure 2.

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Photographs 1 and 2: Outcropping mineralisation at the newly discovered Green Hills Prospect and rock chip sample BLGS0240 which returned results of 24.30% Cu and 0.59 g/t Au.

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Photograph 5: Malachite-rich sample BLGS0217 (5.73% Cu and 5.74 g/t Au) from infill sampling at Eagles Rest.

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

Legend
Cu %
Au g/t
0.0 – 0.1
0.1 – 0.5
0.5 – 1.0
1.0 – 5.0
>5.0
EM1 Green Hills: Mineralised
2.32% Cu, 0.04 g/t Au
24.30% Cu, 0.59 g/t Au Structure
Lag Anomaly: 7.06% Cu, 0.52 g/t Au Erny Bore 5.84% Cu, 1.23 g/t Au KFM EL (Granted)
4.90% Cu, 0.29 g/t Au
KFM EL (Pending)
Eagles Rest: 5.73% Cu, 5.74 g/t Au
2 km
----- End of picture text -----

Figure 2: Boolaloo Project area, showing throck chip samples and interpreted mineralised structures. The aerial image is limited to the boundary of the Company’s tenure.

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Boolaloo Airborne Electromagnetic Survey

During the Quarter, Kingfisher received the data from a helicopter-borne Versatile Time Domain Electromagnetic (VTEM[TM] Max) geophysical survey from Boolaloo (see ASX announcement 21 July 2021).

The VTEM[TM] Max survey was flown by UTS Geophysics Pty Ltd using the industry leading time domain electromagnetic system. The survey covered more than 20km of strike of the Company’s target geological unit and structures. The survey included more than 900 flight line kilometres and covered an area of 165km[2] . Data was reviewed in conjunction with the Company’s geophysics consultant, Mira Geoscience Asia Pacific Pty Ltd (Mira).

Three discrete late-time bedrock conductors were identified in the area covered by the survey (Figure 3). The conductors are present across all of the electromagnetic channels; early, mid and late times. The conductors are within the range of response expected for copper and other base metal mineralisation and highlights the potential for the discovery of a deposit in this emerging copper province.

Two of the newly identified conductors are in the area covered by the hyperspectral survey and are associated with previously identified laterally extensive alteration of the country rocks (see ASX announcement 17 February 2021). The strong conductor (Figure 3, B) appears in a faulted closure of a largescale fold; this geological location is considered favourable for mineralisation.

Boolaloo RC Drilling

During the Quarter, an RC drilling program commenced at Boolaloo, which has been designed to test three separate targets, Erny Bore, Green Hills and EM1.

The Erny Bore Prospect appears as a series of shears and quartz veins and outcrops over a strike length of 150m. The prospect has been defined by historic rocks chip samples which include 8.06, 2.10, 1.81 and 1.21 g/t Au[3] and is associated with a strong conductor, which lies approximately 100m along strike from the rock chip samples. The historic rock chips, together with the strong conductor and interpreted preliminary VTEM[TM] Max survey results suggest a potential target zone of over 1km at Erny Bore.

The Green Hills Prospect was identified as a potential target from the reprocessing of the hyperspectral survey and the Company’s structural interpretation, with first pass mapping and sampling in the area returning rock chip sample results with over 24% copper and more than 1 g/t gold.

The third target to be tested in the current Boolaloo RC drilling program is EM1, a bedrock conductor identified from the airborne EM survey which is approximately 3km west of Erny Bore and on the interpreted extensions of the Erny Bore structure (Figure 4).

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

Erny Bore
Copper Strike
K15
K16
Eagles Rest B
A B
Legend
Mineralised Structure
Flight lines
Target conductors
Survey area
----- End of picture text -----

Figure 3: Boolaloo preliminary airborne electromagnetic survey results showing newly identified late-time conductors (channel 40).

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Figure 4: Boolaloo Prospects showing the mineralisation, structures and drilling and sampling.

Boolaloo Diamond Drilling

Assay results from the maiden diamond drilling completed in June 2021 at the Copper Strike, K15 and K16 Prospects were received by the Company during the quarter. The results included:

• 10.05m at 0.84% Cu and 0.11 g/t Au from 23.15m, including 2.7m at 1.45% Cu and 0.14 g/t Au from 23.15m and 0.85m at 2.68% Cu and 0.49 g/t Au from 32.35m (BLDD003);

• 0.5m at 1.54% Cu and 0.10 g/t Au from 38.7m (BLDD003);

• 0.9m at 0.41% Cu and 0.03 g/t Au from 95.2m (BLDD003); and

• 0.7m at 1.73% Cu and 0.08 g/t Au from 78.75m (BLDD001).

The broad zone of 10m of disseminated copper sulphides is interpreted to be down-dip of previously identified disseminated malachite and chalcopyrite in the historic drill hole MIRC027 from 5m to 11m and 13m to 31m which was not analysed for copper and gold content.

Location plans and cross sections for the diamond drill hole at the Copper Strike and K15 Prospects are shown in Figure 5 to Figure 8. All of the drill holes intersected disseminated, vein and fracture-fill copper mineralisation, with mineralisation intersected in BLDD001 and BLDD003 above the Company’s reporting cut-off grade of 0.2% Cu.

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A’
Legend
BLDD003
Rock Chips – Cu%
0.0 – 0.1 A
0.1 – 0.3
0.3 – 0.5
0.5 – 1.0
1.0 – 2.0
2.0 – 5.0
>5.0
Drill holes
Mineralisation
----- End of picture text -----

Figure 5: Plan view of the Copper Strike Prospect at Boolaloo, showing the location of drill hole BLDD003 as well as historic drilling[1] and rock chip samples[2] . Cross section A-A’ is shown in Figure 6.

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

A A’
5.2% Cu, 0.5 g/t Au
5.7% Cu, 0.4 g/t Au
Logged disseminated sulphides
?
10.05m @ 0.84% Cu & 0.11 g/t Au,
2m @ 3.8% Cu & 0.6 g/t Au
incl. 2.7m @ 1.45% Cu & 0.14 g/t Au
and 0.85m @ 2.68% Cu & 0.5 g/t Au
0.5m @ 1.54% Cu & 0.10 g/t Au
Legend
Rock Chips – Cu%
0.0 – 0.1
0.1 – 0.3
0.3 – 0.5
0.9m @ 0.41% Cu & 0.03 g/t Au 0.5 – 1.0
1.0 – 2.0
2.0 – 5.0
>5.0
Drill holes
Mineralisation
----- End of picture text -----

Figure 6: Cross section A-A’ at the Copper Strike Prospect showing the location of drill hole BLDD003 as well as historic drilling[1] and rock chip samples[2] . The location of the cross section is shown in Figure 5.

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Legend
Rock Chips – Cu%
0.0 – 0.1
0.1 – 0.3
0.3 – 0.5
0.5 – 1.0
B’ 1.0 – 2.0
2.0 – 5.0
BLDD001 >5.0
Drill holes
K15 Mineralisation
B
K16
----- End of picture text -----

Figure 7: Plan view of the K15 and K16 Prospects at Boolaloo, showing the locations of drill holes BLDD001 and BLDD002 as well as historic drill holes[3] and rock chip samples[2] . Cross sections B-B’ is shown in Figure 8.

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

B B’
15.1% Cu, 4.5 g/t Au
9.3% Cu, 1.1 g/t Au
5.8% Cu, 0.4 g/t Au
3m @ 3.1% Cu & 0.57 g/t Au
0.7m @ 1.73% Cu & 0.08 g/t Au
Legend
Rock Chips – Cu%
0.0 – 0.1
0.1 – 0.3
0.3 – 0.5
0.5 – 1.0
1.0 – 2.0
2.0 – 5.0
>5.0
Drill holes
Mineralisation
----- End of picture text -----

Figure 8: Cross section B-B’ at the K15 Prospect showing the interpreted mineralisation and the location of drill hole BLDD001 as well as historic drill holes[3] and rock chip samples[2] . The location of the cross section is shown in Figure 7.

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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 (Figure 9). The Projects lie within the Halfway Gneiss, an exotic block of Archean geology where the Company holds a strike length of over 50km of the target geological horizon. Similar aged Archean rocks are recognised world-wide for occurrences of VMS systems and as a source of base metal deposits which are currently being mined.

Copper mineralisation at the Kingfisher Project is 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[1] .

Mineralisation at Mick Well outcrops as quartz reefs and gossanous ironstones which are up to 10m in width. Past exploration in the area is limited, with previous rock chip sampling showing results up to 10.6% Cu over a strike length of 1km within a laterally extensive geological horizon. Only four historical drill holes have been completed at Mick Well, with the best result being 11m @ 0.25% Cu from 118 m (MWDD001)[1] .

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Figure 9: Location of the Kingfisher and Mick Well Projects in the Gascoyne Mineral Field showing the extents of the Archean Halfway Gneiss.

Kingfisher and Mick Well Airborne Electromagnetic Survey

During the Quarter, Kingfisher announced it has received preliminary data from a VTEM[TM] Max geophysical survey from Kingfisher and Mick Well. The survey was flown by UTS Geophysics Pty Ltd and covered more than 25km of strike of the Company’s target geological unit and structures at Kingfisher and Mick Well and included more than 820 flight line kilometres and covered an area of 145km[2] .

Five high-quality targets were identified from the strong conductors which were apparent in the survey results (Figure 10). Each of the bedrock conductors is within the range of possible responses expected for VMS base metal mineralisation and is derived from geology in the immediate area of the anomaly.

Kingfisher and Mick Well RC Drilling

Drilling of the VMS targets at the Kingfisher and Mick Well Projects commenced during the Quarter. The program includes four strong conductors identified from the airborne electromagnetic survey and include conductor 1 (Figure 10), where a three-dimensional plate was modelled which captures the strike, dip and position of the conductor below the surface. Conductors two and three were also selected for drill testing as they are associated with discrete magnetic lows, which provide further support for the veracity of the targets. Lastly, the fourth target (conductor 5, Figure 10) was selected for drilling as it lies immediately along strike from outcropping copper mineralisation and historic workings at the Kingfisher Project.

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Figure 10: Kingfisher and Mick Well preliminary airborne electromagnetic survey results showing newly identified late-time conductors (channel 45), survey extents and the total magnetic intensity first vertical derivative (inset) with the discrete magnetic lows associated with the conductors, particularly conductors 2 and 3.

On-going Exploration Work Program

The Company has planned the following exploration activities for the December 2021 Quarter:

• RC drilling: Completion of the RC drilling program which is underway testing the high-priority targets from the airborne electromagnetic surveys. This includes Erny Bore at Boolaloo and conductors at the Mick Well and Kingfisher Projects in the Gascoyne Mineral Field.

• Fieldwork: Mapping and rock chip sampling will be on-going at Boolaloo during Q4 2021. The fieldwork at Boolaloo has already returned high-grade copper and gold rock chip results and new high-priority areas will be targeted during the Quarter. At Kingfisher, Mick Well and Arthur River surface geochemical sampling will also be extended to target rare earth elements (REE) associated with mapped pegmatite dykes.

Activities completed Q1, Q2 and Q3 2021 and planned activities for Q4 2021 are shown below.

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Q1 2021 Q2 2021 Q3 2021 Q4 2021 BOOLALOO Hyperspectral re-processing Diamond drilling Airborne EM RC drilling KINGFISHER AND MICK WELL Geophysics re-processing Airborne EM RC drilling ARTHUR RIVER Surface geochemistry

Corporate

During the Quarter, an additional Boolaloo tenement EL08/3246 was granted.

Financial Commentary

The Company closed the quarter with $4.0M in cash, details are provided in the Appendix 5B report.

Comparison of Forecast to Actual Use of Funds Statement from Prospectus[1] [as required under ASX LR 5.3.4]:

Expenditure Item	Forecast (2 years) $’000	Actual (9 months) [inclusive of GST] $’000	Variance $’000
				Explanation
Exploration expenditure	3,980	1,062	(2,918)	Company listed in December 2020, funds are budgeted for expenditure over twoyears.
Directors’ fees	633	192	(441)	Company listed in December 2020, funds are budgeted for expenditure over twoyears.
General administration fees & workingcapital	730	543	(187)	Company listed in December 2020, funds are budgeted for expenditure over twoyears.
Future acquisition costs	450	-	(450)	Will depend on opportunities that mayarise.
Estimated expenses of the offer	507	534	27	GST excluded from forecast but included within actual.
Total	6,300	2,331	(3,969)

Ends

1 Dated 9 November 2020.

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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 shareholder wealth through the acquisition, exploration and development of mineral resource projects throughout Western Australia. The Company’s tenements and tenement applications cover 1,406km[2] in the underexplored Ashburton and Gascoyne Mineral Fields.

The Company 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 in the Ashburton Basin and more than 50km of strike across the target geological unit that covers the Kingfisher and Mick Well Projects in the Gascoyne region.

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

Information Sources

The information contained in this announcement related to the Company’s past exploration results is extracted from, or was set out in, the following ASX announcements which are referred to in this Quarterly Activities Report:

• The report released 5 July 2021, ‘Extensive regional rock chip sampling delivers high-grade copper and gold results at Boolaloo’

• The report released 21 July 2021, ‘Exciting conductors identified from airborne electromagnetic survey at Boolaloo’

• The report released 27 July 2021, ‘Strong conductors identified from airborne electromagnetic survey at Kingfisher and Mick Well’

• The report released 12 August 2021, ‘Maiden diamond drilling results confirm multiple copper zones at Boolaloo’

• The report released 9 September 2021, ‘New copper and gold mineralisation discovered from ongoing exploration at Boolaloo’

• The report released 14 September 2021, ‘Drilling underway at Kingfisher’s VMS and copper-gold targets’

Information Sources for historical exploration data

• 1 ASX Announcement ‘Boolaloo Drill Results Confirm Copper-Gold Potential’. Jackson Gold Limited (ASX:JAK), 8 May 2007.

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2 ASX Announcement ‘Exploration Update – Argentina and Australia’. Jackson Gold Limited (ASX:JAK), 27 August 2008.

3 Kingfisher Mining Limited Prospectus, 9 November 2020 and WAMEX Reports a079570 and a076055.

Information Sources for Figure 1

• i. Paulsens Gold Mine past production: Northern Star Paulsens Gold Operations Fact Sheet dated July 2018: https://www.nsrltd.com/wp-content/uploads/2018/08/NSR-Paulsens-Operations-Fact-Sheet-July2018.pdf

• ii. Paulsens Gold Mine resources: ASX Announcement “Production set to increase 30% over next two years and costs to fall 10%” released 13 August 2020. https://www.nsrltd.com/wpcontent/uploads/2020/08/Resources-and-Reserves-Production-and-Cost-Guidance-Update-ex-KCGM13-08-2020.pdf

• iii. Mt Clement resources: Artemis Resources Limited Annual Report to Shareholders for year ended 30 June 2019.

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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Schedule of Tenements

Project	Tenement	Registered Holder				Interest Held	Interest Held @ 30-Sep-21
			Status	Area (Bl)	Expiry Date	@ 30-Jun-21
Boolaloo	E08/2945	Kingfisher MiningLtd	Granted	24	14 May 2023	100%	100%
	E08/3067	Kingfisher MiningLtd	Granted	9	22 April 2025	100%	100%
	EL08/32461	Kingfisher MiningLtd	Granted	23	5 July 2026	100%	100%
	EL08/3247	Kingfisher MiningLtd	Pending	74	-	100%	100%
	EL08/33172	Kingfisher MiningLtd	Pending	96	-	100%	100%
Kingfisher	E09/2242	Kingfisher MiningLtd	Granted	4	1 February 2023	100%	100%
	E09/2349	Kingfisher MiningLtd	Granted	24	21 October 2025	100%	100%
	E09/2481	Kingfisher MiningLtd	Pending	79	-	100%	100%
Mick Well	E09/2320	Kingfisher MiningLtd	Granted	20	20 March 2023	100%	100%
	E09/2495	Kingfisher MiningLtd	Pending	50	-	100%	100%
Arthur River	E09/2319	Kingfisher MiningLtd	Granted	10	15 January 2024	100%	100%
	E09/2494	Kingfisher MiningLtd	Pending	26	-	100%	100%
	E09/2523	Kingfisher MiningLtd	Pending	10	-	100%	100%

Notes for the schedule of tenements:

1. EL08/3246 was granted on 6 July 2021.

2. Kingfisher applied for E08/3317 which covers 96 blocks (303km[2] ) on 21 December 2020. A competing application covering four blocks of the same area was lodged on the prior business day, and Kingfisher’s application is likely to be reduced to 96 blocks.

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Rule 5.5

Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

Name of entity Kingfisher Mining Limited ABN Quarter ended (“current quarter”) 96 629 675 216 30 September 2021

Consolidated statement of cash flows	Current quarter $A’000	Year to date (3 months) $A’000
1. Cash flows from operating activities 1.1 Receipts from customers 1.2 Payments for (a) exploration & evaluation (b) development (c) production (d) staff costs (e) administration and corporate costs 1.3 Dividends received (see note 3) 1.4 Interest received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Government grants and tax incentives 1.8 Other (provide details if material) 1.9 Net cash from / (used in) operating activities	- - - - (84) (56) - - - - - -	- - - - (84) (56) - - - - - -
	(140)	(140)
2. Cash flows from investing activities 2.1 Payments to acquire or for: (a) entities (b) tenements (c) property, plant and equipment (d) exploration & evaluation (e) investments (f) other non-current assets	- - (1) (180) - -	- - (1) (180) - -

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

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Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

Consolidated statement of cash flows	Current quarter $A’000	Year to date (3 months) $A’000
2.2 Proceeds from the disposal of: (a) entities (b) tenements (c) property, plant and equipment (d) investments (e) other non-current assets 2.3 Cash flows from loans to other entities 2.4 Dividends received (see note 3) 2.5 Other (provide details if material) 2.6 Net cash from / (used in) investing activities	- - - - - - - -	- - - - - - - -
	(181)	(181)
3. Cash flows from financing activities 3.1 Proceeds from issues of equity securities (excluding convertible debt securities) 3.2 Proceeds from issue of convertible debt securities 3.3 Proceeds from exercise of options 3.4 Transaction costs related to issues of equity securities or convertible debt securities 3.5 Proceeds from borrowings 3.6 Repayment of borrowings 3.7 Transaction costs related to loans and borrowings 3.8 Dividends paid 3.9 Other (provide details if material) 3.10 Net cash from / (used in) financing activities	- - - - - - - - -	- - - - - - - - -
	-	-
4. Net increase / (decrease) in cash and cash equivalents for the period
4.1 Cash and cash equivalents at beginning of period 4.2 Net cash from / (used in) operating activities (item 1.9 above) 4.3 Net cash from / (used in) investing activities (item 2.6 above) 4.4 Net cash from / (used in) financing activities (item 3.10 above)	4,325 (140) (181) -	4,325 (140) (181) -

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

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Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

Consolidated statement of cash flows	Current quarter $A’000	Year to date (3 months) $A’000
4.5 Effect of movement in exchange rates on cash held 4.6 Cash and cash equivalents at end of period	-	-
	4,004	4,004
5. Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts	Current quarter $A’000	Previous quarter $A’000
5.1 Bank balances 5.2 Call deposits 5.3 Bank overdrafts 5.4 Other (provide details) 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above)	4,004 - - -	4,325 - - -
	4,004	4,325
6. Payments to related parties of the entity and their associates		Current quarter $A'000
6.1 Aggregate amount of payments to related parties and their associates included in item 1 57 6.2 Aggregate amount of payments to related parties and their associates included in item 2 20 Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments.		57
		20

Includes Directors’ salaries and fees (inclusive of GST).

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

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Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

7. 7.1 7.2 7.3 7.4 7.5 7.6	Financing facilities Note: the term “facility’ includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. Total facility amount at quarter end $A’000 Amount drawn at quarter end $A’000 Loan facilities - - Credit standby arrangements - - Other (please specify) - - Total financing facilities - - Unused financing facilities available at quarter end - Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well.	Total facility amount at quarter end $A’000	Amount drawn at quarter end $A’000
		-	-
		-	-
		-	-
		-	-
	N/A
8.	Estimated cash available for future operating activities		$A’000
8.1 8.2 8.3 8.4 8.5 8.6 8.7 8.8	Net cash from / (used in) operating activities (item 1.9) (140) (Payments for exploration & evaluation classified as investing activities) (item 2.1(d)) (181) Total relevant outgoings (item 8.1 + item 8.2) (321) Cash and cash equivalents at quarter end (item 4.6) 4,004 Unused finance facilities available at quarter end (item 7.5) - Total available funding (item 8.4 + item 8.5) 4,004 Estimated quarters of funding available (item 8.6 divided by item 8.3) 12.5 Note: if the entity has reported positive relevant outgoings (ie a net cash inflow) in item 8.3, answer item 8.7 as “N/A”. Otherwise, a figure for the estimated quarters of funding available must be included in item 8.7. If item 8.7 is less than 2 quarters, please provide answers to the following questions: 8.8.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not?		(140) (181) (321) 4,004 -
			4,004
	Answer: N/A
	8.8.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful?
	Answer: N/A

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

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Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

8.8.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis?

Answer: N/A

Note: where item 8.7 is less than 2 quarters, all of questions 8.8.1, 8.8.2 and 8.8.3 above must be answered.

Compliance statement

• 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.

• 2 This statement gives a true and fair view of the matters disclosed.

Date: 20 October 2021

Authorised by: By the Board of Kingfisher Mining Limited

(Name of body or officer authorising release – see note 4)

Notes

1. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity’s activities for the past quarter, how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so.

2. If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report.

3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.

4. If this report has been authorised for release to the market by your board of directors, you can insert here: “By the board”. If it has been authorised for release to the market by a committee of your board of directors, you can insert here: “By the [ name of board committee – eg Audit and Risk Committee ]”. If it has been authorised for release to the market by a disclosure committee, you can insert here: “By the Disclosure Committee”.

5. If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations , the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively.

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

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