KINGFISHER MINING LTD — Regulatory Filings 2021

Jul 20, 2021

ASX Announcement: 21 July 2021

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EXCITING CONDUCTORS IDENTIFIED FROM AIRBORNE ELECTROMAGNETIC SURVEY AT BOOLALOO

• Three new discrete bedrock conductors identified at Boolaloo which are in the range of possible responses expected for base metal mineralisation.

• Two of the conductors are within areas of laterally extensive bedrock alteration identified from the previously reported hyperspectral survey.

• Potential strike extension of the Erny Bore Prospect which has returned rock chips up to 8.06 g/t Au highlighted by conductor at depth on the host structure.

• Targets will be drilled as part of the Boolaloo RC program scheduled for Q3 this year.

Kingfisher Mining Limited ( ASX:KFM ) (“ Kingfisher ” or the “ Company” ) is pleased to provide an update of its on-going exploration at its 100% owned Boolaloo Project in the Ashburton Basin of Western Australia.

Data from the helicopter-borne Versatile Time Domain Electromagnetic (VTEM[TM] Max) geophysical survey at Boolaloo which is currently considered to be the Industry leading electromagnetic system, has been received by the Company and reviewed in conjunction with the Company’s geophysics consultant, Mira Geoscience Asia Pacific Pty Ltd (Mira).

Three discrete late-time bedrock conductors have been identified in the area covered by the survey (Figure 1). The conductors are present across all of the electromagnetic channels; early, mid and late times. 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 1, B) appears in a faulted closure of a large-scale fold; this geological location is considered to be favourable for mineralisation.

Significantly, one of the strong conductors lies approximately 100m along strike from Erny Bore. 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[1] . 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 for Erny Bore.

Kingfisher’s Executive Director and CEO James Farrell commented: “The Boolaloo airborne electromagnetic survey has resulted in the successful identification of exciting new discrete bedrock conductors. The conductors are within the range of response expected for copper and other base metal mineralisation and highlight the potential for the discovery of a deposit in this emerging copper province.

The Company is now prioritising drilling of the newly identified targets as part of the Boolaloo RC program scheduled for Q3 this year”.

Survey Details

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] .

ABN: 96 629 675 216 Registered Address: Level 11, London House, 216 St Georges Terrace, Perth WA 6000 AUSTRALIA Postal Address: GPO Box 2517 Perth WA 6831 AUSTRALIA

P: +61 8 9481 0389 F: +61 8 9463 6103 E: info@kingfishermining.com.au W: www.kingfishermining.com.au Non-Executive Chairman: Warren Hallam Executive Director/CEO: James Farrell Non-Executive Director: Adam Schofield Non-Executive Director: Scott Huffadine Company Secretary: Stephen Brockhurst

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Erny Bore
Copper Strike
K15
K16
Eagles Rest B
A B
Legend
Mineralised Structure
Flight lines
Target conductors
Survey area
.
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Figure 1: Boolaloo preliminary airborne electromagnetic survey results showing newly identified late-time conductors (channel 40).

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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 3). 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.

Past exploration has established the potential for the discovery of copper mineralisation at the project, with previous reverse circulation (RC) 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)[ 2] ;

• 3m @ 1.83% Cu & 1.12 g/t Au from 96m, including 1m @ 3.14% Cu & 1.38 g/t Au from 96m (MIRC004)[ 2] ;

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

• 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)[3] .

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.

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Legend
Paulsens Gold Mine (NST)
Ashburton Production 909 koz Aui, Resources 209 koz Auii
Mt Clement Project (NST) Resources 64 koz Auiii EL08/3317
Erny Bore (Au)
K16
Copper Strike
Fault
Tenements
Kingfisher Mining (Granted)
Kingfisher Mining (Pending)
Northern Star Resources
Cazaly Resources
25 km
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Figure 2: Location of the Boolaloo Project in the Ashburton Mineral Field showing the 1:2,500,000 geology map of Western Australia. 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 the past production[i] and resources[ii] of Paulsens Gold Mine and Mt Clement Project[iii] .

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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 shareholder wealth through the acquisition, exploration and development of mineral resource projects throughout Western Australia. The Company’s tenements and tenement applications cover 1,375km[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

Previous ASX Announcements

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

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

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

Information Sources for Figure 2

• 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-FactSheet-July-2018.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-exKCGM-13-08-2020.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

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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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JORC Code, 2012 Edition – Table 1

Section 1 Sampling Techniques and Data

Criteria		JORC Code explanation	Commentary
Sampling		• Nature and quality of sampling (eg cut channels, random chips, or specific	• The VTEMTMMax survey was flown by UTS Geophysics Pty Ltd.
techniques		specialised industry standard measurement tools appropriate to the minerals	• The survey included 921 line km.
		under investigation, such as down hole gamma sondes, or handheld XRF	• Nominal flight line spacings were 200m, with infill lines at 100m
		instruments, etc). These examples should not be taken as limiting the broad	spacings in areas of interest identified during the survey.
		meaning of sampling.	• The nominal flight height was approximately 80m, with the loop at
		• Include reference to measures taken to ensure sample representivity and the	35m.
		appropriate calibration of any measurement tools or systems used.
		• Aspects of the determination of mineralisation that are Material to the Public
		Report.
		• In cases where ‘industry standard’ work has been done this would be
		relatively simple (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.

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Criteria		JORC Code explanation	Commentary
		• 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 VTEMTMMax system is innovative airborne EM system with a
techniques and		• If non-core, whether riffled, tube sampled, rotary split, etc and whether	low base frequency (25Hz) and high-spatial resolution of two to
sample		sampled wet or dry.	three metres.
preparation		• For all sample types, the nature, quality and appropriateness of the sample	• Data processing was undertaken during the survey by UTS
		preparation technique.	Geophysics Pty Ltd and by the Company’s geophysics consultant,
		• Quality control procedures adopted for all sub-sampling stages to maximise	Mira Geoscience Asia Pacific Pty Ltd.
		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	• The VTEMTMMax system an industry-leading high-powered
assay data and		procedures used and whether the technique is considered partial or total.	airborne EM system.
laboratory		• For geophysical tools, spectrometers, handheld XRF instruments, etc, the
tests		parameters used in determining the analysis including instrument make and
		model, reading times, calibrations factors applied and their derivation, etc.
		• Nature of quality control procedures adopted (eg standards, blanks,
		duplicates, external laboratory checks) and whether acceptable levels of
		accuracy (ie lack of bias) andprecision have been established.
Verification	of	• The verification of significant intersections by either independent or	• Independent verification of the data was completed each day by
sampling and		alternative company personnel.	Mira Geoscience 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 a Novatel GPS receiver, enabling the
data points		hole surveys), trenches, mine workings and other locations used in Mineral	helicopter position to be recorded in three dimensions with ±5%
		Resource estimation.	altitude accuracy.
		• Specification of thegrid system used.	• The flightpaths were supplied in the UTM coordinate system

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Criteria		JORC Code explanation	Commentary
		• Quality and adequacy of topographic control.	(MGA94 Zone 50)
Data spacing		• Data spacing for reporting of Exploration Results.	• Nominal flight line spacings were 200m, with infill lines at 100m
and		• Whether the data spacing and distribution is sufficient to establish the degree	spacings in areas of interest identified during the survey.
distribution		of geological and grade continuity appropriate for the Mineral Resource and	• The nominal flight height was approximately 80m, with the loop at
		Ore Reserve estimation procedure(s) and classifications applied.	35m.
		• Whether sample compositing has been applied.	• Flight lines were generally perpendicular to the strike of the target
			geology.
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		mineralised structures is considered to have introduced a sampling bias, this
structure		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.
Audits	or	• The results of any audits or reviews of sampling techniques and data.	• Independent data verification was completed daily during the
reviews			survey by Mira Geoscience Asia Pacific

Section 2 Reporting of Exploration Results

Criteria		JORC Code explanation	Commentary
Mineral		• Type, reference name/number, location and ownership including	• The Boolaloo copper-gold and base metal project is located
tenement	and	agreements or material issues with third parties such as joint ventures,	approximately 160km west of Paraburdoo and 35km southwest of
land	tenure	partnerships, overriding royalties, native title interests, historical sites,	the Paulsen's gold mine in the Ashburton region of Western
status		wilderness or national park and environmental settings.	Australia.
		• The security of the tenure held at the time of reporting along with any	• The project includes two granted Exploration Licences, E08/2945
		known impediments to obtaining a licence to operate in the area.	and E08/3067 as well as three Exploration Licence applications,
			E08/3246, E08/3247 and E08/3317.
			• The tenements are controlled by Kingfisher Mining Ltd.
			• The tenements lie within Native Title Determined Areas of the
			Thudgarri People, combined Thiin-Mah, Warriyangka, Tharrkari
			and Jiwarli People and the Jurruru People.

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Criteria		JORC Code explanation	Commentary
			• All the tenements are in good standing with no known
			impediments.
Exploration	done	• Acknowledgment and appraisal of exploration by other parties.	• Historic exploration work in the area was dominantly undertaken
by other parties			by Jackson Gold Ltd between 2006 and 2011.
Geology		• Deposit type, geological setting and style of mineralisation.	• The Boolaloo area is prospective for sediment-hosted and shear-
			associated Cu, Cu-Au and Au mineralisation.
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.
Data aggregation		• In reporting Exploration Results, weighting averaging techniques,	• No new drilling results are included in this report.
methods		maximum and/or minimum grade truncations (eg cutting of high grades)
		and cut-off 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	• No new drilling results are included in this report.
between		Exploration Results.
mineralisation		• If the geometry of the mineralisation with respect to the drill hole angle is
		known, its nature should be reported.

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Criteria		JORC Code explanation	Commentary
widths	and	• If it is not known and only the down hole lengths are reported, there should
intercept lengths		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 the VTEMTMMax survey data has been included in
		should be included for any significant discovery being reported These	the report along with documentation.
		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	• All of the geophysical survey results are included in this report.
reporting		practicable, representative reporting of both low and high grades and/or
		widths should be practiced to avoid misleading reporting of Exploration
		Results.
Other substantive		• Other exploration data, if meaningful and material, should be reported	• All of the geophysical survey results are included in this report.
exploration data		including (but not limited to): geological observations; geophysical survey	• All historic exploration results were previously reported by Jackson
		results; geochemical survey results; bulk samples – size and method of	Gold Limited and subsequently by Kingfisher.
		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	• The company has planned follow-up mapping and rock chip
		extensions or depth extensions or large-scale step-out drilling).	sampling as well as RC drilling to test priority targets.
		• Diagrams clearly highlighting the areas of possible extensions, including
		the main geological interpretations and future drilling areas, provided this
		information is not commercially sensitive.

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