MANUKA RESOURCES LTD. — Capital/Financing Update 2021

Feb 28, 2021

ASX: MKR MARKET SENSITIVE

ASX Announcement

01 March 2021

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High Grade Gold Mineralisation Beneath Mt Boppy Pit Extends Further

Highlights:

• RC drill holes collared at surface continue to extend the zone of high-grade gold mineralisation beneath the Mt Boppy design pit shell reported previously in announcements on 24 August 2020, 25 September 2020 and 4 December 2020.

• Assays from four drill holes have been received and incorporated into 3D modelling.

• Best intercepts from four holes drilled on sections approximately 25m apart: o Hole MBRC019: 22m @ 11.78 g/t Au from 159m downhole depth o Hole MBRC020: 17m @ 4.33 g/t Au from 180m downhole depth

• Intercepts are 30-50m below the current planned pit floor confirming the existence of high grade mineralisation outside the current pit shell

• Economic analysis of gold potential below current proposed pit floor will commence when further results are received

Manuka Resources Limited (“ Manuka ” or the “ Company ”) is pleased to provide an update on the recent drilling at the Company’s Mt Boppy gold deposit. Four reverse circulation (RC) drill holes were designed to test the down-dip extents of high-grade gold mineralisation defined by previous RC grade control and surface drilling.

MBRC019: 159m – 181m (22m) average 11.78 g/t Au (no stope fill included) Including 159m – 165m (6m) average 5.37 g/t Au And 174m – 181m (7 m) average 30.98 g/t Au

MBRC020: 180m – 197m (17m) average 4.33 g/t Au (no stope fill included)

These intercepts are approximately 30m to 50m beneath the current planned pit floor. Following the exceptional extension drilling announced on 24 August 2020, 25 September 2020 and 4 December 2020. These results again confirm the existence of exciting grades of gold mineralisation below the current pit shell.

Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000 ABN 80 611 963 225 tel +61412 268114 www.manukaresources.com.au

Technical detail

The reported drill holes were designed to follow up previously reported high grade intercepts in the hangingwall (west side) of back-filled stopes in the Mount Boppy gold deposit. High grade zones were encountered in historic drilling and mining higher in the deposit, associated with dip and strike flexures of the Mount Boppy Main Lode.

Holes in this drill program were collared at surface at approximately 280m RL on the western side of the current pit. All holes were originally planned as moderately to steeply east plunging to intersect steeply west dipping mineralisation at a high angle, approximately 25m – 30m down-dip from previously drilled high grade zones. The first two holes, MBRC019 and MBRC020, proceeded well and intercepted the Main Lode within 3.5m and 8.5m respectively of their planned locations. MBRC021 and MBRC022 deviated significantly, intercepting the lode 18m and 11.2m from plan respectively. Full details of drill hole sample results for reported holes are given in Table 3.

Figure 1 shows a long section view looking east of the Mount Boppy deposit in the vicinity of reported drill hole intercepts and previously reported holes are also indicated. The grey shaded background is a surface representing the western margin of stoping that occurred when Mount Boppy operated as an underground mine from 1900 to 1923. During underground mining these stopes were backfilled with tailings sands that contain significant gold grades and form part of the Mount Boppy resource. Figure 2 shows the location of reported drill holes on the 280m RL on the western side of the Mt Boppy pit. Figure 3 and Figure 4 show east-west oriented cross sections through the reported drill holes, with the current design pit shell and backfilled stope volumes indicated.

The zone of high grades corresponds with a strike and dip flexure of the Mt Boppy main lode, reflecting the strong structural controls on mineralisation.

Manuka’s Executive Chairman Dennis Karp said: “The ongoing drilling campaign into the existing Mt Boppy pit, targeting mineralisation beneath the current pit design, continues to deliver excellent grades. This is the fourth set of drill holes the Company has reported on since August 2020, and all four sets significantly contribute to the thesis that Mt Boppy has potential to have a much longer life than currently planned. We are certainly incentivised to continue exploration to build our resource inventory for future exploitation. We have planned further drilling to intersect below the current pit design (again from surface) and expect these holes to be completed midMarch.

The current strategy for Manuka is to conclude mining the current Mt Boppy pit design by May/June 2021, and process those mined Mt Boppy ores until around July. We then intend to commence the processing and production of the Wonawinta stockpiles, as we become Australia’s newest silver producer, and notably Australia’s largest primary silver producer.”

Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000 ABN 80 611 963 225 tel +61412 268114 www.manukaresources.com.au

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Figure 1. Long section view looking east of Mount Boppy showing reported drill intercepts, other drill holes and interpreted extent of high grade mineralisation (dash line). Grey surface marks edge of backfilled stopes.

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Figure 2. Collar location plan, reported Mount Boppy RC drill holes.

Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000 ABN 80 611 963 225 tel +61412 268114 www.manukaresources.com.au

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Figure 3. Cross section 6507945mN through Mount Boppy drill hole MBRC019 looking north.

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Figure 4. Cross section 6507970mN through Mount Boppy drill hole MBRC020 looking north.

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Figure 5. Cross section 6508007.5mN through Mount Boppy drill hole MBRC021 looking north.

Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000 ABN 80 611 963 225 tel +61412 268114 www.manukaresources.com.au

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Figure 6. Cross section 6508020mN through Mount Boppy drill hole MBRC022 looking north.

	Table 1. Completed Mount Boppy in-pit RC holes, reported drill hole details.	Table 1. Completed Mount Boppy in-pit RC holes, reported drill hole details.	Table 1. Completed Mount Boppy in-pit RC holes, reported drill hole details.	Table 1. Completed Mount Boppy in-pit RC holes, reported drill hole details.	Table 1. Completed Mount Boppy in-pit RC holes, reported drill hole details.	Table 1. Completed Mount Boppy in-pit RC holes, reported drill hole details.
Drill hole ID	Drilled depth (m)	Easting MGA zone 55	Northing MGA zone 55	RL (m)	Date Drilled	Azimuth (grid)°	Collar dip °
MBRC019	205	435021.7	6507946.021	278.911	16/01/2021	94.5	-60.3
MBRC020	202	435017.469	6507967.299	278.795	17/01/2021	91.5	-64.1
MBRC021	210	435011.637	6507990.125	278.722	19/01/2021	92.6	-65
MBRC022	192	435009.237	6508007.553	278.745	20/01/2021	88.9	-59.7

Table 2. Details of drill hole intercepts for reported results.

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Drill hole ID Depth From (m) Depth To (m) Interval (m) Au grade (g/t)
MBRC019 159 181 22 11.78
Including 159 165 6 5.37
And 174 181 7 30.98
MBRC020 180 197 17 4.33
MBRC021 183 191 8 2.35
Including non-stope 3 1.17
fill
MBRC022 171 180 9 3.27
Including 175 179 4 5.87
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True widths are approximately 70%-75% of downhole widths

• *stope void intersected beneath reported intercepts with no sample recovery from fill

• **mostly stope fill, non-fill average from 1 m above and 2 m below fill intercept

***No stope intercepted in drill hole

Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000 ABN 80 611 963 225 tel +61412 268114 www.manukaresources.com.au

About Manuka

Manuka Resources Limited (ASX: MKR) is an Australian mining company located in the Cobar Basin, central west New South Wales. It is the 100% owner of two fully permitted gold and silver projects which include the following:

Mt Boppy Gold mine and neighbouring tenements hosting an existing open pit Measured and Indicated Resource of 351,430 tonnes grading 4.62 g/t gold, based on a cut-off grade of 1.6 g/t for material within its current open pit design and a cut-off grade of 3.0 g/t for material below the current pit design, and an inferred resource of 11,000 tonnes grading 6.7 g/t below the designed pit reported at a 3.0 g/t cut off, The Mt Boppy project is currently in production and processing its gold ore through the Company’s processing plant at Wonawinta.

Wonawinta silver project, with mine, processing plant and neighbouring tenements, hosting 52 million ounces of silver in an inferred JORC compliant silver resource grading 42 g/t silver at a cut-off grade of 20 g/t silver. The Wonawinta processing plant has a nameplate capacity of 850,000 tonnes per year. The Company expects to announce a Resource Update during March/April 2021.

The Wonawinta silver project was previously the largest producer of primary silver in Australia. Manuka intends to resume the production of silver doré in mid-2021, following the completion of mining at Mt Boppy.

This announcement has been approved for release by the Board of Directors of Manuka Resources Limited.

For further information contact: Dennis Karp Media Contact Executive Chairman Ben Henri Manuka Resources Limited M+C Partners 0412 268 114 0473 246 040

Important Information

This report includes forward-looking statements and comments about future events, including the Company’s expectations about the performance of its businesses. Forward-looking words such as “expect”, “should”, “could”, “may”, “predict”, “plan”, “will”, “believe”, “forecast”, “estimate”, “target” or other similar expressions are intended to identify forward-looking statements. Such statements involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company and which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements. Forward-looking statements are provided as a general guide only, and should not be relied on as an indication or guarantee of future performance. Given these uncertainties, recipients are cautioned to not place undue reliance on any forward-looking statement. Subject to any continuing obligations under applicable law, the Company disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements in this report to reflect any change in expectations in relation to any forward-looking statements or any change in events, conditions or circumstances on which any such statement is based. No Limited Party or any other person makes any representation, or gives any assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements in the report will occur.

Previously reported information

This report includes information that relates to Mineral Resources and Ore Reserves which were prepared and first disclosed under JORC Code 2012. The information was extracted from the Company’s previous ASX announcement dated 10 July 2020 (Prospectus). The Company confirms that it is not aware of any new information or data that materially affects the information

Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000 ABN 80 611 963 225 tel +61412 268114 www.manukaresources.com.au

included in the original market announcement and, in the case of reporting of Ore Reserves and Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which any Competent Person’s findings are presented have not been materially modified from the original market announcement.

Competent Person Statement

Information in this announcement that relates to Exploration Results is based on, and fairly represents, information and supporting documentation prepared by Dr James Lally, a Competent Person who is a Member of the Australian Institute of Geoscientists. Dr Lally has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person (or “CP”) as defined in the 2012 Edition of the Australasian Code for Reporting of Information in this announcement that relates to Exploration Results. Dr Lally is employed by Mining Associates Pty Ltd, a consulting firm engaged by Manuka Resources to provide technical expertise and does not hold any interest in Manuka Resources. Dr Lally consents to the inclusion in this announcement of all technical statements based on his information in the form and context in which they appear.

Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000 ABN 80 611 963 225 tel +61412 268114 www.manukaresources.com.au

Table 3. Details of drill hole assays for reported holes. Grey rows indicate samples included in reported intercepts.

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Hole ID Depth From Depth To Au g/t Geology
MBRC019 119 120 0.01 Siltstone
MBRC019 120 121 0.01 Siltstone
MBRC019 121 122 0.01 Siltstone
MBRC019 122 123 0.01 Siltstone
MBRC019 123 124 0.01 Siltstone
MBRC019 124 125 0.01 Siltstone
MBRC019 125 126 0.01 Siltstone
MBRC019 126 127 0.01 Siltstone
MBRC019 127 128 0.01 Siltstone
MBRC019 128 129 0.02 Siltstone
MBRC019 129 130 0.02 Siltstone
MBRC019 130 131 0.02 Siltstone
MBRC019 131 132 0.02 Siltstone
MBRC019 132 133 0.02 Siltstone
MBRC019 133 134 0.02 Siltstone
MBRC019 134 135 0.02 Siltstone
MBRC019 135 136 0.02 Siltstone
MBRC019 136 137 0.08 Siltstone
MBRC019 137 138 0.18 Siltstone
MBRC019 138 139 0.05 Siltstone
MBRC019 139 140 0.03 Siltstone
MBRC019 140 141 0.03 Siltstone
MBRC019 141 142 0.04 Siltstone
MBRC019 142 143 0.06 Siltstone
MBRC019 143 144 0.09 Siltstone
MBRC019 144 145 0.2 Siltstone
MBRC019 145 146 0.16 Siltstone
MBRC019 146 147 0.14 Siltstone
MBRC019 147 148 0.4 Siltstone
MBRC019 148 149 0.28 Siltstone
MBRC019 149 150 0.24 Siltstone
MBRC019 150 151 0.09 Siltstone
MBRC019 151 152 0.14 Siltstone
MBRC019 152 153 0.14 Siltstone
MBRC019 153 154 0.13 Siltstone
MBRC019 154 155 0.33 Siltstone
MBRC019 155 156 0.69 Siltstone
MBRC019 156 157 0.27 Siltstone
MBRC019 157 158 0.14 Siltstone
MBRC019 158 159 0.37 Siltstone
MBRC019 159 160 8.97 Siltstone
MBRC019 160 161 6.17 Siltstone
MBRC019 161 162 2.33 Siltstone
MBRC019 162 163 0.95 Siltstone
MBRC019 163 164 9.91 Siltstone
MBRC019 164 165 3.92 Siltstone
MBRC019 165 166 1.24 Siltstone
MBRC019 166 167 0.54 Siltstone
MBRC019 167 168 0.6 Siltstone
MBRC019 168 169 0.5 Siltstone
MBRC019 169 170 1.65 Siltstone
MBRC019 170 171 2.12 Siltstone
MBRC019 171 172 0.89 Siltstone
MBRC019 172 173 0.93 Siltstone
MBRC019 173 174 1.56 Siltstone
MBRC019 174 175 3.52 Siltstone
MBRC019 175 176 35.4 Siltstone
MBRC019 176 177 166 Siltstone
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Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000 ABN 80 611 963 225 tel +61412 268114 www.manukaresources.com.au

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Hole ID Depth From Depth To Au g/t Geology
MBRC019 177 178 4.84 Siltstone
MBRC019 178 179 2.35 Siltstone
MBRC019 179 180 2.35 Siltstone
MBRC019 180 181 2.44 Siltstone
MBRC019 181 182 0.64 Siltstone
MBRC019 182 189 Void - no sample
MBRC019 189 190 0.68 pelite-psammite
MBRC019 190 191 0.57 pelite-psammite
MBRC019 191 192 0.31 pelite-psammite
MBRC019 192 193 0.54 pelite-psammite
MBRC019 193 194 0.19 pelite-psammite
MBRC019 194 195 0.17 pelite-psammite
MBRC019 195 196 0.43 pelite-psammite
MBRC019 196 197 1.19 pelite-psammite
MBRC019 197 198 0.43 pelite-psammite
MBRC019 198 199 0.44 pelite-psammite
MBRC019 199 200 0.4 pelite-psammite
MBRC019 200 201 0.22 pelite-psammite
MBRC019 201 202 0.22 pelite-psammite
MBRC019 202 203 0.35 pelite-psammite
MBRC019 203 204 0.27 pelite-psammite
MBRC019 204 205 0.21 pelite-psammite
MBRC020 120 121 0.01 Siltstone
MBRC020 121 122 0.01 Siltstone
MBRC020 122 123 0.02 Siltstone
MBRC020 123 124 0.04 Siltstone
MBRC020 124 125 0.05 Siltstone
MBRC020 125 126 0.03 Siltstone
MBRC020 126 127 0.02 Siltstone
MBRC020 127 128 0.01 Siltstone
MBRC020 128 129 0.01 Siltstone
MBRC020 129 130 0.02 Siltstone
MBRC020 130 131 0.05 Siltstone
MBRC020 131 132 0.02 Siltstone
MBRC020 132 133 -0.01 Siltstone
MBRC020 133 134 0.01 Siltstone
MBRC020 134 135 0.01 Siltstone
MBRC020 135 136 0.01 Siltstone
MBRC020 136 137 0.01 Siltstone
MBRC020 137 138 0.01 Siltstone
MBRC020 138 139 0.01 Siltstone
MBRC020 139 140 0.01 Siltstone
MBRC020 140 141 -0.01 Siltstone
MBRC020 141 142 0.01 Siltstone
MBRC020 142 143 0.01 Siltstone
MBRC020 143 144 0.02 Siltstone
MBRC020 144 145 0.02 Siltstone
MBRC020 145 146 0.02 Siltstone
MBRC020 146 147 0.01 Siltstone
MBRC020 147 148 0.02 Siltstone
MBRC020 148 149 0.02 Siltstone
MBRC020 149 150 0.04 Siltstone
MBRC020 150 151 0.03 Siltstone
MBRC020 151 152 0.04 Siltstone
MBRC020 152 153 0.04 Siltstone
MBRC020 153 154 0.05 Siltstone
MBRC020 154 155 0.06 Siltstone
MBRC020 155 156 0.23 Siltstone
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Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000 ABN 80 611 963 225 tel +61412 268114 www.manukaresources.com.au

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Hole ID Depth From Depth To Au g/t Geology
MBRC020 156 157 0.07 Siltstone
MBRC020 157 158 0.08 Siltstone
MBRC020 158 159 0.09 Siltstone
MBRC020 159 160 0.09 Siltstone
MBRC020 160 161 0.14 Siltstone
MBRC020 161 162 0.19 Siltstone
MBRC020 162 163 0.13 Siltstone
MBRC020 163 164 0.1 Siltstone
MBRC020 164 165 0.11 Siltstone
MBRC020 165 166 0.16 Siltstone
MBRC020 166 167 0.09 Siltstone
MBRC020 167 168 0.41 Siltstone
MBRC020 168 169 0.64 Siltstone
MBRC020 169 170 1.66 Sandstone
MBRC020 170 171 2.73 Sandstone
MBRC020 171 172 0.69 Sandstone
MBRC020 172 173 1.22 Sandstone
MBRC020 173 174 0.45 Siltstone
MBRC020 174 175 0.67 Siltstone
MBRC020 175 176 0.47 Siltstone
MBRC020 176 177 0.8 Siltstone
MBRC020 177 178 3.2 Siltstone
MBRC020 178 179 0.66 Siltstone
MBRC020 179 180 0.46 Siltstone
MBRC020 180 181 1.04 Siltstone
MBRC020 181 182 4.75 Siltstone
MBRC020 182 183 2.36 Siltstone
MBRC020 183 184 1.19 Siltstone
MBRC020 184 185 2.22 Siltstone
MBRC020 185 186 2.3 Siltstone
MBRC020 186 187 15.45 Siltstone
MBRC020 187 188 10.05 Siltstone
MBRC020 188 189 4.06 Siltstone
MBRC020 189 190 2.63 Siltstone
MBRC020 190 191 4.11 Siltstone
MBRC020 191 192 3.37 Siltstone
MBRC020 192 193 3.93 Siltstone
MBRC020 193 194 3.43 psammite
MBRC020 194 195 2.99 psammite
MBRC020 195 196 6.29 psammite
MBRC020 196 197 3.48 psammite
MBRC020 197 202 Void-no sample
MBRC021 120 121 0.09 Siltstone
MBRC021 121 122 0.1 Siltstone
MBRC021 122 123 0.28 Siltstone
MBRC021 123 124 0.28 Siltstone
MBRC021 124 125 0.27 Siltstone
MBRC021 125 126 0.6 Siltstone
MBRC021 126 127 0.33 Siltstone
MBRC021 127 128 0.25 Siltstone
MBRC021 128 129 0.15 Siltstone
MBRC021 129 130 0.06 Siltstone
MBRC021 130 131 0.09 Siltstone
MBRC021 131 132 0.1 Siltstone
MBRC021 132 133 0.11 Siltstone
MBRC021 133 134 0.36 Siltstone
MBRC021 134 135 0.31 Siltstone
MBRC021 135 136 0.12 Siltstone
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Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000 ABN 80 611 963 225 tel +61412 268114 www.manukaresources.com.au

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Hole ID Depth From Depth To Au g/t Geology
MBRC021 136 137 0.08 Siltstone
MBRC021 137 138 0.06 Siltstone
MBRC021 138 139 0.14 Siltstone
MBRC021 139 140 0.43 Siltstone
MBRC021 140 141 0.21 Siltstone
MBRC021 141 142 0.24 Siltstone
MBRC021 142 143 0.19 Sandstone
MBRC021 143 144 0.19 Siltstone
MBRC021 144 145 0.32 Sandstone
MBRC021 145 146 0.33 Siltstone
MBRC021 146 147 0.24 Siltstone
MBRC021 147 148 0.19 Siltstone
MBRC021 148 149 0.25 Siltstone
MBRC021 149 150 0.3 Siltstone
MBRC021 150 151 0.22 Siltstone
MBRC021 151 152 0.2 Siltstone
MBRC021 152 153 0.19 Siltstone
MBRC021 153 154 0.27 Siltstone
MBRC021 154 155 0.38 Siltstone
MBRC021 155 156 0.18 Siltstone
MBRC021 156 157 0.28 Siltstone
MBRC021 157 158 0.38 Siltstone
MBRC021 158 159 0.72 Siltstone
MBRC021 159 160 0.48 Siltstone
MBRC021 160 161 0.54 Siltstone
MBRC021 161 162 0.29 Siltstone
MBRC021 162 163 0.23 Siltstone
MBRC021 163 164 0.44 Siltstone
MBRC021 164 165 0.5 Siltstone
MBRC021 165 166 0.25 Siltstone
MBRC021 166 167 0.26 Siltstone
MBRC021 167 168 0.24 Siltstone
MBRC021 168 169 0.59 Siltstone
MBRC021 169 170 0.29 Siltstone
MBRC021 170 171 0.42 Siltstone
MBRC021 171 172 0.18 Siltstone
MBRC021 172 173 0.33 Siltstone
MBRC021 173 174 0.34 Siltstone
MBRC021 174 175 0.41 Siltstone
MBRC021 175 176 0.26 Siltstone
MBRC021 176 177 0.32 Siltstone
MBRC021 177 178 0.28 Siltstone
MBRC021 178 179 0.25 Siltstone
MBRC021 179 180 0.5 Siltstone
MBRC021 180 181 0.53 Siltstone
MBRC021 181 182 0.27 Siltstone
MBRC021 182 183 0.3 Siltstone
MBRC021 183 184 1.26 Siltstone
MBRC021 184 185 3 FILL
MBRC021 185 186 3.12 FILL
MBRC021 186 187 2.99 FILL
MBRC021 187 188 2.89 FILL
MBRC021 188 189 3.26 FILL
MBRC021 189 190 1.28 Siltstone
MBRC021 190 191 0.97 Siltstone
MBRC021 191 192 0.13 Siltstone
MBRC021 192 193 0.36 Siltstone
MBRC021 193 194 0.38 Siltstone
MBRC021 194 195 0.16 Siltstone
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Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000 ABN 80 611 963 225 tel +61412 268114 www.manukaresources.com.au

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Hole ID Depth From Depth To Au g/t Geology
MBRC021 195 196 0.35 Siltstone
MBRC021 196 197 0.33 Siltstone
MBRC021 197 198 0.06 pelite
MBRC021 198 199 0.27 pelite
MBRC021 199 200 0.15 pelite
MBRC021 200 201 0.27 pelite
MBRC021 201 202 0.29 pelite
MBRC021 202 203 0.34 pelite
MBRC021 203 204 0.4 pelite
MBRC021 204 205 0.09 pelite
MBRC021 205 206 0.16 psammitepelite
MBRC021 206 207 0.15 psammitepelite
MBRC021 207 208 0.29 psammitepelite
MBRC021 208 209 0.49 psammitepelite
MBRC021 209 210 0.25 psammitepelite
MBRC022 120 121 0.51 Siltstone
MBRC022 121 122 0.41 Siltstone
MBRC022 122 123 0.87 Siltstone
MBRC022 123 124 0.67 Siltstone
MBRC022 124 125 0.65 Siltstone
MBRC022 125 126 0.25 Siltstone
MBRC022 126 127 0.9 Siltstone
MBRC022 127 128 0.44 Siltstone
MBRC022 128 129 0.49 Siltstone
MBRC022 129 130 0.19 Siltstone
MBRC022 130 131 0.31 Siltstone
MBRC022 131 132 0.19 Siltstone
MBRC022 132 133 0.32 Siltstone
MBRC022 133 134 0.2 Siltstone
MBRC022 134 135 0.33 Siltstone
MBRC022 135 136 0.32 Siltstone
MBRC022 136 137 0.2 Siltstone
MBRC022 137 138 0.19 Siltstone
MBRC022 138 139 0.18 Siltstone
MBRC022 139 140 0.33 Siltstone
MBRC022 140 141 0.28 Siltstone
MBRC022 141 142 0.34 Siltstone
MBRC022 142 143 0.29 Siltstone
MBRC022 143 144 0.35 Siltstone
MBRC022 144 145 0.22 Siltstone
MBRC022 145 146 0.23 Siltstone
MBRC022 146 147 0.22 Siltstone
MBRC022 147 148 0.33 Siltstone
MBRC022 148 149 0.19 Siltstone
MBRC022 149 150 0.24 Siltstone
MBRC022 150 151 0.36 Siltstone
MBRC022 151 152 0.45 Siltstone
MBRC022 152 153 0.3 Siltstone
MBRC022 153 154 0.89 Siltstone
MBRC022 154 155 0.4 Siltstone
MBRC022 155 156 0.36 Siltstone
MBRC022 156 157 0.47 Siltstone
MBRC022 157 158 0.67 Siltstone
MBRC022 158 159 0.42 Siltstone
MBRC022 159 160 0.43 Siltstone
MBRC022 160 161 0.81 Siltstone
MBRC022 161 162 0.77 Siltstone
MBRC022 162 163 0.34 Siltstone
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Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000 ABN 80 611 963 225 tel +61412 268114 www.manukaresources.com.au

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Hole ID Depth From Depth To Au g/t Geology
MBRC022 163 164 0.7 Siltstone
MBRC022 164 165 0.26 Siltstone
MBRC022 165 166 1.44 Siltstone
MBRC022 166 167 0.61 Siltstone
MBRC022 167 168 0.32 Siltstone
MBRC022 168 169 0.52 Siltstone
MBRC022 169 170 0.34 Siltstone
MBRC022 170 171 0.89 Siltstone
MBRC022 171 172 1.14 Siltstone
MBRC022 172 173 3.31 Siltstone
MBRC022 173 174 0.39 Siltstone
MBRC022 174 175 0.18 Siltstone
MBRC022 175 176 4.55 Siltstone
MBRC022 176 177 7.31 Siltstone
MBRC022 177 178 7.76 Siltstone
MBRC022 178 179 3.85 Siltstone
MBRC022 179 180 0.96 Siltstone
MBRC022 180 181 0.15 Siltstone
MBRC022 181 182 0.07 pelite
MBRC022 182 183 0.03 pelite
MBRC022 183 184 0.02 pelite
MBRC022 184 185 0.02 pelite
MBRC022 185 186 0.08 pelite
MBRC022 186 187 0.46 pelite-psammite
MBRC022 187 188 0.36 pelite-psammite
MBRC022 188 189 0.3 pelite-psammite
MBRC022 189 190 0.25 pelite-psammite
MBRC022 190 191 1.07 pelite-psammite
MBRC022 191 192 0.3 pelite-psammite
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Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000 ABN 80 611 963 225 tel +61412 268114 www.manukaresources.com.au

JORC CODE, 2012 EDITION – TABLE 1

Section 1 Sampling Techniques and Data

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(Criteria in this section apply to all succeeding sections.)
Criteria JORC Code explanation
Sampling  Nature and quality of sampling (eg cut channels, random  Reverse Circulation (RC) drilling was used to collect
techniques chips, or specific specialised industry standard samples from 1 m intervals downhole.
measurement tools appropriate to the minerals under  Sampling utilised a rig-mounted cyclone and riffle splitter
investigation, such as down hole gamma sondes, or to obtain 1 m samples weighing 1.5 kg to 3.0 kg that was
handheld XRF instruments, etc). These examples should pulversised and split to produced a 50g charge for fire
not be taken as limiting the broad meaning of sampling. assay.
 Include reference to measures taken to ensure sample  Sampling was continuous every metre down all holes,
representivity and the appropriate calibration of any except for zones where sample return was lost after
measurement tools or systems used. entering voids.
 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,  RC drilling using a 5½ inch face-sampling bit was utilized
techniques rotary air blast, auger, Bangka, sonic, etc) and details (eg for all RC drill holes.
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  Sample recoveries were visually assessed from chip pile
recovery recoveries and results assessed. sizes and split sample weights and classified as ‘good’ or
 Measures taken to maximise sample recovery and ensure ‘poor’. Where backfilled stope material and strongly
representative nature of the samples. broken zones were sampled, sample loss was commonly
 Whether a relationship exists between sample recovery noted. None of the reported holes include unsampled
and grade and whether sample bias may have occurred intervals.
due to preferential loss/gain of fine/coarse material.  There is no relationship between sub-sample weights and
grade.
 All samples were recovered dry and there is no noted
sample bias from loss/gain of fines.
Logging  Whether core and chip samples have been geologically  Lithology, quartz veining percent, alteration style and
and geotechnically logged to a level of detail to support intensity and presence/estimated amount of sulphides
appropriate Mineral Resource estimation, mining studies was recorded on a per metre basis for the entire drill hole.
and metallurgical studies.  Note was also made from drillers’ remarks and drill plods
 Whether logging is qualitative or quantitative in nature. on encountering water or voids.
Core (or costean, channel, etc) photography.
 The total length and percentage of the relevant
intersections logged.
Sub-sampling  If core, whether cut or sawn and whether quarter, half or  Sub-samples were obtained from a riffle splitter on the drill
techniques all core taken. rig.
and sample  If non-core, whether riffled, tube sampled, rotary split, etc  Off-siders regularly inspected and cleaned the splitter. The
preparation and whether sampled wet or dry. splitter was removed during hole cleaning and returned to
 For all sample types, the nature, quality and position upon commencement of drilling.
appropriateness of the sample preparation technique.  One duplicate sample within each drill hole was collected.
 Quality control procedures adopted for all sub-sampling  Gold is finely disseminated and associated with sulphides
stages to maximise representivity of samples. in quartz veins and the RC sub-sample size is considered
 Measures taken to ensure that the sampling is appropriate.
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  All samples were analysed at ALS Laboratories Orange
assay data and laboratory procedures used and whether the using Fire Assay with a 50g charge. Fire Assay is
and technique is considered partial or total. considered a ‘total’ technique for non-coarse gold.
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Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000 ABN 80 611 963 225 tel +61412 268114 www.manukaresources.com.au

www.manukaresources.com.au

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Criteria JORC Code explanation
laboratory  For geophysical tools, spectrometers, handheld XRF  Blank and standard samples were included in batches sent
tests instruments, etc, the parameters used in determining the to ALS at a rate of 1 standard and one blank for every 30
analysis including instrument make and model, reading routine samples. No issues were noted with blank and
times, calibrations factors applied and their derivation, etc. standard analysis.
 Nature of quality control procedures adopted (eg  ALS laboratories undertake internal QC checks including
standards, blanks, duplicates, external laboratory checks) standards, blanks and duplicates.
and whether acceptable levels of accuracy (ie lack of
bias) and precision have been established.
Verification of  The verification of significant intersections by either  Significant intersections have been verified by other
sampling and independent or alternative company personnel. company personnel and consultants.
assaying  The use of twinned holes.  RC holes from this programme are not twin holes.
 Documentation of primary data, data entry procedures,  Samples were collected in pre-numbered bags with
data verification, data storage (physical and electronic) sample numbers assigned to the appropriate intervals and
protocols. entered into a relational database (MS Access). Assay
 Discuss any adjustment to assay data. results were received from laboratories in digital format
and matched to sampled intervals using database
queries.
 No adjustments have been made to assay data.
Location of  Accuracy and quality of surveys used to locate drill holes  Drill collars were located using Total Station surveying to
data points (collar and down-hole surveys), trenches, mine workings an accuracy of less than 1cm in X, Y and Z using Map
and other locations used in Mineral Resource estimation. Grid of Australia zone 55 coordinate system.
 Specification of the grid system used.  Collar azimuth and dip were determined at time of rig
 Quality and adequacy of topographic control. setup using a compass-clinometer.
 Downhole dip surveys were taken within rods every 30 m-
50 m during drilling to check the hole path.
 Downhole surveys for azimuth and dip were undertaken at
the end of the hole every 30 m downhole using a Reflex
EZ-Trac single shot tool.
Data spacing  Data spacing for reporting of Exploration Results.  Reported drill holes were part of an RC in pit grade control
and  Whether the data spacing and distribution is sufficient to program designed to test the depth extent of high-grade
distribution establish the degree of geological and grade continuity areas intersected during RC drilling. The spacing is
appropriate for the Mineral Resource and Ore Reserve considered sufficient for definition of Indicated to
estimation procedure(s) and classifications applied. Measured resources.
 Whether sample compositing has been applied.  No sample compositing has been applied.
Orientation of  Whether the orientation of sampling achieves unbiased  Drilling was oriented perpendicular to the strike of
data in sampling of possible structures and the extent to which mineralisation and at an angle of approximately 10-25°to
relation to this is known, considering the deposit type. dip.
geological  If the relationship between the drilling orientation and the  Sampling orientation is considered to have achieved
structure orientation of key mineralised structures is considered to unbiased sampling.
have introduced a sampling bias, this should be assessed
and reported if material.
Sample  The measures taken to ensure sample security.  Samples dispatched to ALS in Orange were bagged in
security larger polyweave sacks secured with zip ties and
delivered by a local freight company. Sample numbers
received by ALS were checked again dispatched
numbers.
Audits or  The results of any audits or reviews of sampling  No audits/reviews of sampling techniques and data have
reviews techniques and data. been undertaken on this drill program
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Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000 ABN 80 611 963 225 tel +61412 268114 www.manukaresources.com.au

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Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

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Criteria JORC Code explanation
Mineral  Type, reference name/number, location and ownership  ML1681, ML311, MPL 240, GL 3255, GL 5836, GL 5848, and
tenement and including agreements or material issues with third GL5898 and exploration licence EL 5842 are all held by Mt
land tenure parties such as joint ventures, partnerships, overriding Boppy Resources Pty Ltd. (wholly owned by MKR)
status royalties, native title interests, historical sites, wilderness  The property on which the Mount Boppy mine situated is Crown
or national park and environmental settings. Land.
 The security of the tenure held at the time of reporting  A Native Title Agreement is in place with the traditional owners.
along with any known impediments to obtaining a  The Company notes that no land within the licence area may be
licence to operate in the area. classified as sensitive land. No further approvals other than
those required under the Mining Act 1992 are required.
Exploration  Acknowledgment and appraisal of exploration by other  The deposit was first discovered in 1896 and mined by
done by other parties. underground methods up to 1923.
parties  Various companies have conducted exploration activities
around Mt Boppy since the 1960s, with treatment of tailings and
open pit mining up until 2015.
Geology  Deposit type, geological setting and style of  The Mount Boppy deposit is located in the northern part of
mineralisation. Devonian Canbelego-Mineral Hill Rift Zone, flanked by the
Kopyje Shelf, on the far eastern side of the Cobar Basin.
 Mineralisation occurs in brecciated and silicified sediments and
quartz veining developed along a west-dipping fault that down-
throws Devonian aged Baledmund Formation rocks on its
western side against Orodovician age Girilambone Group rocks
on it eastern side.
 The Main Lode strikes approximately north-south and dips at
approximately 70-80° west.
 The best mineralisation in wall rocks occurs within the
Baledmund Formation rocks on the western side of the Main
Lode where the lode has a shallower dip.
 Historical underground workings were supported with timber
and back-filled with tailings sands from processing. Sand fill
samples grade between 0.05 g/t Au and 38 g/t Au with an
average of 3.5 g/t Au.
 Mineralisation is predominantly gold, associated with grey
quartz veins and minor pyrite.
Drill hole  A summary of all information material to the  Drill hole information is included in tabulated form in the body of
Information understanding of the exploration results including a the announcement.
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  In reporting Exploration Results, weighting averaging  Reported drill hole intercepts have been averaged according to
aggregation techniques, maximum and/or minimum grade sample length: since all RC sample intervals are the same
methods truncations (eg cutting of high grades) and cut-off length the reported average grade is the arithmetic average of
grades are usually Material and should be stated. all samples in the interval.
 Where aggregate intercepts incorporate short lengths of  Aggregate intercepts define mineralisation above a cut-off of
high grade results and longer lengths of low grade 1 g/t Au with a maximum of 2m of internal dilution.
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.
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Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000 ABN 80 611 963 225 tel +61412 268114 www.manukaresources.com.au

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Criteria	JORC Code explanation
Relationship between mineralisation widths and intercept lengths	 These relationships are particularly important in the reporting of Exploration Results.  If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.  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’). _	 True widths are estimated to be 70-75% of the down-hole intercept width.
Diagrams	 Appropriate maps and sections (with scales) and tabulations of intercepts 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.	 Diagrams and tabulations of intercepts are included in the body of the report.
Balanced reporting	 Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	 The drill hole intercepts reported represent a high grade portion of the Mount Boppy gold deposit and are not representative of the entire dip and strike extent of mineralisation.  Cross sections of entire drill hole results are provided in the body of the report.
Other substantive exploration data	 Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	 Boppy mineralisation is processed at MKR’s Wonawinta plant, which uses a carbon-in-leach (CIL) process to extract gold, generally achieving recoveries of between 75% and 80%.
Further work	 The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling).  Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	 Results from this programme will be assessed more fully to determine if further drilling is required.

Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000 ABN 80 611 963 225 tel +61412 268114 www.manukaresources.com.au

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