KINGFISHER MINING LTD — Regulatory Filings 2021

Apr 27, 2021

ASX Announcement: 28 April 2021

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DIAMOND DRILLING AND FIELDWORK UNDERWAY AT KINGFISHER’S BOOLALOO COPPER-GOLD PROJECT

• Diamond drilling has commenced at Kingfisher’s flagship Boolaloo Copper-Gold Project, with the first drill hole at K15 now in progress

• The diamond drilling program will also follow-up previous RC drill intercepts at the K16 and Copper Strike Prospects

• Drilling is designed to assess the mineralisation, alteration and host rock stratigraphy to assist the Company with designing a further 5,000m RC drilling program later in the year

• Rock chip sampling underway targeting laterally extensive zones of hydrothermal alteration that are spatially associated with mineralisation

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

Diamond drilling is now underway at the Boolaloo Project. Diamond drill holes will be completed at the K15, K16 and Copper Strike Prospects.

Kingfisher’s Executive Director and CEO James Farrell commented: “I am very pleased to announce that the Company’s maiden drill program is now underway. The unseasonal late wet weather, including heavy rain fall in the wake of Cyclone Seroja, appears to have cleared and access to the Boolaloo project area has now been restored.

With the team on site, we are also taking the opportunity to map and rock chip sample within the laterally extensive alteration zones that were identified from the hyperspectral imagery. We believe this work will be valuable to assist with planning the RC drilling programs later in the year.

Diamond Drilling Program

A 500m diamond drilling program is underway at the Boolaloo Project (Figure 1). The diamond drilling has been designed to follow-up previous reverse circulation (RC) drill intercepts at the K15, K16 and Copper Strike Prospects. The purpose of the drilling is to assess the mineralisation, alteration and host rock stratigraphy which will assist the Company with designing a 5,000m RC drilling program planned for Boolaloo later in the year.

Significant historic drill results close to the up-coming diamond drilling 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) and 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, 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] .

A location plan and a cross-section for the drill hole that is underway at the K15 Prospect are shown in Figure 2 and Figure 3.

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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Figure 1: Diamond drill rig on the first drill hole at K15.

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Figure 2: Plan view showing the locations of the diamond drill hole that is underway at K15 as well as historic drill holes[1] and rock chip samples[3] . Cross sections A-A’ is shown in Figure 3.

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Figure 3: Cross section A-A’ at the K15 Prospect showing the location of the planned diamond drill hole as well as historic drill holes[1] and rock chip samples[3] . The location of the cross section is shown in Figure 2.

Geological Mapping and Rock Chip Sampling

First-pass mapping and rock chip sampling is underway in the alteration zones identified from the hyperspectral survey reprocessing (see announcement ASX:KFM 17 February 2017[4] and Figure 4). The fieldwork is being supported by four-wheel drive and helicopter to maximise the area that can be covered (Figure 5) and has the potential to lead directly to new drill targets, adding to the current exciting targets at Boolaloo that are yet to be drill tested.

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Figure 4: Phengite, muscovite and paragonite mica hyperspectral map for the Boolaloo area showing the new alteration interpretation and historic rock chip samples. The alteration interpretation includes is based on white micas, chlorite and iron oxide and form laterally extensive zones which are interpreted to be associated with the mineralised structures.

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Figure 5: Helicopter support for access and sample collection at Boolaloo

On-going Exploration Work Program

Following completion of the diamond drill program, Kingfisher will complete an airborne electromagnetic survey (EM) at the Boolaloo, Kingfisher and Mick Well projects. Airborne EM surveys are effective in identifying conductive sulphide mineralisation up to depths of 300m below surface; a style of mineralisation which is targeted by the Company. The EM surveys are now in an advanced stage of planning and are scheduled for completion in the June Quarter 2021.

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Activities completed Q1 2021, planned activities for Q2 and an indicative plan for Q3 to Q4 2021 is shown below.

	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
Magnetic survey

About Boolaloo

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 6).

Past exploration at the project included geological mapping, surface geochemistry, geophysical surveys and reverse circulation (RC) drilling. This produced 22 mineralised targets, with only six of the targets tested by drilling, returning results which included:

• 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] .

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.

Mineralisation at Boolaloo occurs on east-west trending faults. The Company has pegged exploration licences over the potential strike extents of the interpreted mineralised structures. The Company’s tenure now covers more than 30km of strike of the interpreted mineralised structures; approximately three times the strike length of the previous Boolaloo exploration area (Figure 7).

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Figure 6: 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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Figure 7: Boolaloo Prospects showing historic drilling and sampling[5] .

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 and have advanced coppergold exploration targets as well as significant strike lengths of the target geological units.

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

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Previous ASX Announcements

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

• 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.

• 4 ASX Announcement ‘Reprocessed Airborne Survey Reveals Extensive Hydrothermal Alteration at Boolaloo Copper-Gold Project’. Kingfisher Mining Limited (ASX:KFM), 17 February 2021.

• 5 ASX Announcement ‘Diamond Drilling to Commence at Kingfisher’s Boolaloo Copper-Gold Project’. Kingfisher Mining Limited (ASX:KFM), 24 March 2021.

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-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 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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