METALS AUSTRALIA LTD — Capital/Financing Update 2017

Nov 6, 2017

ASX Announcement

07 November 2017

Drilling results from the Manindi Zinc Project

Highlights:

• Assay results and downhole EM survey results have been received for recent reverse circulation (RC) percussion drilling completed at the Manindi Zinc Project in Western Australia

• The drilling program was designed to target mineralisation at depth below the existing Kultarr mineral resource and the down dip / plunge extensions of the C4 conductor and to drill test the recently discovered C2 conductor north of Kultarr

• Drilling intersected multiple zones of disseminated to heavy matrix sulphide mineralisation, characteristic of a volcanogenic massive sulphide (VMS) deposit. However the intersections are interpreted to be on the weakly mineralised periphery of the mineralised zone

• Downhole TEM geophysical survey showed two very strong and distinct off-hole conductors, including a shallow conductor (K1), which is spatially coincident with the Kultarr resource model and a deeper conductor (K2), which is coincident with the deeper extents of the resource model, but which also extends further to the southeast

• Results of the drilling and TEM survey indicate that mineralisation appears to continue down-plunge to the southeast and additional zones of potentially massive sulphides remain untested by drilling

• Further drilling planned to test the plunge extension of the existing Kultarr mineral resource and to evaluate the mineralisation associated with the other known conductor targets both along strike and down-plunge

Diversified metals exploration company Metals Australia Limited (ASX: MLS ) (Metals or the Company) is pleased to announce that it has received assay results for all drill holes completed during the recent drilling program at the Manindi Zinc Project, located in Murchison District of Western Australia (Figure 1).

The Company recently completed four reverse circulation (RC) percussion drill holes, MNRC016019, totalling 1,147.00 metres at the Manindi project (see Appendix 1). Three holes, MNRC016, MNRC017 and MNRC019, were drilled in the vicinity of the existing Kultarr mineral resource targeting the newly interpreted down plunge extension of the C4 conductor target (see Figure 2). The remaining hole, MNRC018 was designed to test the Kultarr North C2 conductor target located approximately 350m north along strike from the Kultarr resource (Figure 2). The drilling program was completed on the 11[th] September 2017.

This third phase drilling campaign at Manindi intersected multiple zones of disseminated to heavy matrix sulphide mineralisation, characteristic of a volcanogenic massive sulphide (VMS) deposit, similar to other base metal sulphide deposits in the Yilgarn Craton, particularly Golden Grove

near Yalgoo to the west of Manindi, and Teutonic Bore-Jaguar in the Eastern Goldfields to the east of Manindi. However the intersections are interpreted to be on the weakly mineralised periphery of the mineralised zone.

Commenting on the results of the drilling program, Mr Gino D’Anna, a Director of MLS stated:

“Metals Australia undertook a further drilling program at Manindi to test an important geological concept with implications for the dip of the known mineral resource. This current phase of drilling has further modified our concept of the orientation of the mineralised zone and importantly the results have given the Company the additional confidence it needs to test zones of mineralisation down-plunge to the southeast. This interpretation is supported by the results of the downhole geophysical survey which was also completed to assist with future drill targeting in this complex geological environment. The Company looks forward to completing further drilling at the Manindi Zinc Project, where continuing exploration is focusing on the discovery of additional resources”.

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

Kultarr and Kultarr
North drilling target
areas
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Figure 1: Location map of the Manindi zinc project in Western Australia and location of the RC percussion drilling target areas.

Kultarr/C4 Conductor Results

The mineralisation at Kultarr is interpreted to be steeply dipping and is open at depth downplunge (Figure 3). The Company completed three RC percussion drill holes, MNRC016, MNRC017 and MNRC019, testing the depth extension of the Kultarr mineral resource and assuming a change in dip to the southwest. The holes were also designed to test potential strike and dip extensions of the interpreted C4 conductor[1] .

RC percussion drill hole MNRC016 was designed to test for zinc mineralisation on or adjacent to the felsic-mafic contact beneath the existing Kultarr mineral resource. The hole intersected several zones of disseminated to matrix sulphides up to 10-15m thick higher up within the felsic

1 See ASX announcement dated 25th July 2017 for more detail.

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sequence above the mafic contact. The lower most of these at 159m downhole contained several narrow zones of semi-massive sulphides, partially stoped out by several large late stage mafic intrusives. Mineralised intersections are shown in Table 1.

The hole is interpreted to have intersected the periphery of the main Kultarr mineralised zone and does not support the concept of a change in dip direction to the southwest, contrary to structural information obtained from previous diamond drilling.

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Figure 2: Plan view of the location for C1, C2 and C4 Conductor targets at Manindi highlighting the potential extensive strike length of zinc mineralization. The collar locations and traces of the recent drill holes MNRC016-019 are as shown.

RC percussion drill hole MNRC017 was also drilled beneath the existing Kultarr mineral resource targeting the potential down dip extension to the southeast (Figure 3). This hole was drilled on the same section as previous diamond holes and intersected several zones of disseminated to matrix sulphides ranging from 5-26m thick higher up in the felsic volcanics, however there were no significant mineralised intersections. The lower most of the sulphide zones at 249m downhole contained locally heavy matrix sulphide mineralisation over a thickness of some 26m. This thick zone is interpreted to represent the C4 conductor down dip from hole MNRC016. No semimassive or massive sulphides were present on or adjacent to the felsic-mafic contact at 325m downhole. The contact was much further down the hole than anticipated suggesting the contact has either been faulted or has steepened up dramatically.

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Figure 3: Long-section looking west showing the potential down plunge extension of the Kultarr mineral resource and the interpreted pierce points of RC drill holes MNRC016, MNRC017 and MNRC019.

RC percussion hole MNRC019 was the last hole in the program testing the potential extension of the Kultarr mineral resource to the southeast (Figure 3). Like the two previous holes, MNRC019 also intersected several narrow 5-10m thick zones of disseminated to matrix sulphide mineralisation within the upper felsic rock sequence. The main felsic-mafic contact was intersected at 326m downhole, much further down than anticipated, also suggesting the contact has been faulted or steepened dramatically as in hole MNRC017. No semi-massive or massive sulphides were intersected and there were no significant mineralised intersections.

Both MNRC017 and MNRC019 missed the zone of massive sulphide mineralisation. They were interpreted as having been drilled into the contact beneath the zone of massive sulphide mineralisation.

Table 1: Summary of mineralised intersections from RC percussion drilling program.

Hole_ID	From (m)	To (m)	Downhole Length (m)	Zn (%)	Cu (%)
MNRC016	156 166 185	164 182 196	8 16 11	0.35 0.31 0.39	0.16 0.03 0.27
MNRC019	202	204	2	0.26	0.01

Note that appropriate rounding has been applied to intersection grades. Intersections are calculated on the basis of a 0.2% Zn cut-off and containing a maximum of 1m internal dilution. Intersection lengths are downhole and do not represent true width of the mineralised zone.

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Figure 4: 3D model view (looking north) of the interpreted Kultarr and Kowari mineral resource areas, interpreted TEM conductors and the trace of the recently completed RC percussion drill holes MNRC016MNRC019.

Kultarr North/C2 Conductor Results

RC percussion hole MNRC018 was drilled approximately 350m north-northwest along strike from the main Kultarr mineral resource testing what was considered to be the central portion of the C2 conductor (See Figure 2 and Figure 4). The hole was designed to intersect the C2 conductor target at approximately 200m downhole.

The hole intersected a sequence of felsic volcanic rocks intruded by later stage dolerite dykes and sills along with an 14m thick zone of disseminated and minor matrix sulphide mineralisation from 179m downhole. Assays for this zone were anomalous in zinc (370ppm to 540ppm Zn) and copper (up to 0.16% Cu) but no significant mineralisation zones were intersected.

This zone of disseminated and matrix sulphides appears to correlate with the modelled position of the C2 conductor located adjacent to the felsic-mafic contact. However, the amount of sulphide observed in the hole may be insufficient to explain the modelled conductor. It is possible the drill hole did not adequately test the target, particularly if the dip of the structure was subvertical or steep to the northeast.

Additional modelling of the available geological and structural data is required in order for the Company to confidently design additional drill holes into the C2 conductor to adequately test the mineralisation of this zone. The Company believes that the recent drilling has not been a sufficient test for mineralisation and will be planning additional drilling into the C2 conductor in future programs.

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Downhole EM Survey

Two holes were selected for a downhole transient electromagnetic (DHTEM) survey at the conclusion of the RC percussion drilling program. The DHTEM survey was successfully completed in MNRC017 by Vortex Geophysics on the 23rd of September 2017 to a depth of 330m. Another survey was planned for hole MNRC018 at the Kultarr North target, however, the work could not be completed due to pinching of the PVC casing at a shallow depth.

The data from the DHTEM survey has been interpreted by Southern Geoscience Consultants. The results show that the hole did not intersect any strong conductors, however there are two very strong and distinct off-hole conductors:

• 1) A shallow conductor (K1), which is coincident with the bulk of the Kultarr resource model and the previously defined C4 conductor; and

• 2) The deeper conductor (K2), which is coincident with the deeper extents of the resource model, but also extends further to the southeast.

In addition to these well-defined anomalies, there is a response in the data at the very end of the hole which suggests that the drillhole was trending towards a deeper conductor (modelled around 30m below the drill-hole). This response is not well defined and does not have any supporting information from the cross-hole components to accurately locate the source of the response.

A review of historic drilling and DHTEM shows that the MNDD001 drillhole (which effectively “scissors” the MNRC017 hole), has also intersected the modelled K2 conductor. The data from MNDD001 has been modelled and supports the results from the MNRC017 modelling, which shows that the centre of the conductor is located above and to the southeast of both these holes.

A review of the DHTEM data for hole FWDD028, which is positioned along strike from MNDD001, has also been completed. This drillhole intersected two strong conductors between 270m downhole and 300m downhole (interpreted to be the extension of the K2 conductor) and shows a shallower, strong, off-hole response around 230m downhole. The modelling of this data indicates that the deeper bodies have a different dip direction to the shallower conductors and all conductors are centred above and to the southeast of the hole.

Discussion of Results

Assay results from the recent RC percussion drilling indicate that one hole (MNRC016) has apparently intersected the periphery of the Kultarr mineralisation, running sub-parallel to the mineralised zone. Holes MNRC017 and MNRC019 are interpreted to have intersected the prospective contact beneath the zone of mineralisation. The DHTEM survey in hole MNRC017 has detected an off-hole conductor above and to the southeast of the current drill holes.

The assay and geological information for several holes proximal to the latest drilling will be reviewed to determine the significance of the conductors that have been modelled and intersected. Further drilling is required to understand the complex structural and lithological setting of the down plunge extension of the existing Kultarr mineral resource and to evaluate the mineralisation associated with the other known conductor targets both along strike and downplunge to the southeast of the known massive mineralisation.

Hole MNRC018 appears to have tested the target C2 conductor at Kularr North, though the amount of sulphide may be insufficient to produce the observed conductivity target. Though anomalous in zinc, no significant mineralisation was intersected. Futher drilling is warranted to test along strike of the current drilling in order to test for zones of more massive mineralisation.

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The Company intends to continue its drilling campaign at Manindi, focused on substantially increasing the mineral resource.

ENDS

For more information, please contact:

Gino D’Anna Director Metals Australia Ltd Phone: +61 400 408 878

Competent Person Statement

The information in this announcement that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves, as applicable, is based on information compiled by Mr. Lachlan Reynolds. Mr Reynolds is a consultant to Metals Australia Limited and is a member of the Australasian Institute of Mining and Metallurgy. Mr. Reynolds has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken 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. Reynolds consents to the inclusion in the report of the matters based on their information 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	JORC Code explanation	Commentary
Sampling techniques				Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These	Industry standard reverse circulation percussion drilling was used to obtain 1m samples downhole, from which approximately 2.5-3.5kg was collected for sample preparation and assay.
				examples should not be taken as limiting the broad meaning of sampling.	Downhole Time-domain Electromagnetic (DHTEM) surveys were conducted in drill hole
				Include reference to measures taken to ensure sample representivity and the	MNRC016 using 10m and 5m (infil) station spacing (see below).
				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 techniques				Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, 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	Reverse circulation percussion drilling using a face-sampling hammer drill bit. Truck Mounted Schramm T685W RC rig with 1350cfm/500psi compressed air capacity, with a
				what method, etc).	booster/auxiliary unit with 1150/500psi aux compressor and 1000psi hurricane booster.
Drill recovery	sample			Method of recording and assessing core and chip sample recoveries and results assessed.	Reverse circulation samples were visually assessed to ensure a consistent sample recovery from each 1m sample.
				Measures taken to maximise sample recovery and ensure representative nature of the samples.	No relationship was observed between sample recovery and grade.
				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 logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and	All percussion chip samples were geologically logged to an appropriate level of detail.
				metallurgical studies.	Logging is qualitative and verified by quantitative sample assay as appropriate.
				Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.	The total amount of percussion drilling was 1,147m and 100% of the relevant intersections were logged.
				The total length and percentage of the relevant intersections logged.
Sub-sampling techniques		and	 	If core, whether cut or sawn and whether quarter, half or all core taken. If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or	In identified mineralised zones, sub-sampling of 1m percussion samples completed by taking a representative scoop of dry material.
sample				dry.	In unmineralised zones, sub-sampling from 1m percussion samples was composited into a
preparation				For all sample types, the nature, quality and appropriateness of the sample preparation	sample representative of a combined 4m interval.
				technique.	Grain size of the material beingsampled is coarse and sample sizes are appropriate to the

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Criteria		JORC Code explanation	JORC Code explanation	Commentary
			Quality control procedures adopted for all sub-sampling stages to maximise	material being sampled.
			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.	The samples have been sorted, dried, crushed and pulverised to 90% passing -75um. Primary preparation has been by crushing the whole sample, split to around 2.4kg where required.
			Whether sample sizes are appropriate to the grain size of the material being sampled.
Quality of assay data and laboratory tests		 	The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters	A standard sample preparation and analysis technique has been utilised by the assay laboratory, which conform to industry standards. Appropriate assaying procedures have been used for the type and style of mineralisation.
			used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.	The assay technique is considered to be a total digest. Assays have appropriate detection limits for the mineralisation being evaluated.
			Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.	Assy Methods:  4-Acid Digest - 0.2g o Cr,Fe,Mg,Ni,S,Zn have been determined by Inductively Coupled Plasma
				(ICP) Optical Emission Spectrometry (OES)
				o Ag,As,Co,Cu,Pb have been determined by Inductively Coupled Plasma
				(ICP) Mass Spectrometry (MS)
				 Fire Assay 40g (I-9105-FA-40)
				o Au has been determined by Atomic Absorbtion Spectrometry (I-9105-MET-
				001)
				The Laboratories inserted their own standards and blanks at random intervals and to confirm
				acceptable levels of accuracy and precision. No additional standards, blanks or duplicates were
				included.
Verification	of		The verification of significant intersections by either independent or alternative	All significant intersections are reviewed and confirmed by senior personnel before release to
sampling	and		company personnel.	the market.
assaying			The use of twinned holes.	All data is validated using the QAQCr reporter validation tool within Datashed. Visual
			Documentation of primary data, data entry procedures, data verification, data storage	validations are then carried out by senior staff members.
			(physical and electronic) protocols.	All EM survey data are recorded digitally and sent in electronic format to Southern Geoscience
			Discuss any adjustment to assay data.	Consultants for quality control and evaluation.
				No adjustments to assaydata have been made.
Location of	data		Accuracy and quality of surveys used to locate drill holes (collar and down-hole	Drill collar locations were recorded with GPS system with expected
points			surveys), trenches, mine workings and other locations used in Mineral Resource estimation.	accuracy of +/-5m horizontal and +/- 10m vertical.
			Specification of the grid system used.	The Grid system used is GDA94 datum, MGA zone 50 projection.
			Quality and adequacy of topographic control.	Downhole surveys were not completed.
Data spacing and distribution		 	Data spacing for reporting of Exploration Results. Whether the data spacing and distribution is sufficient to establish the degree of	Reverse circulation percussion drill hole samples were composited to a nominal 1m dowhole intervals appropriate for resource modelling.
			geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.	Sample compositing (4m) has been applied to unmineralised samples as appropriate.

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Criteria		JORC Code explanation	JORC Code explanation	Commentary
			Whether sample compositing has been applied.
Orientation	of		Whether the orientation of sampling achieves unbiased sampling of possible structures	Orientation of sampling may be biased as drilling reporting in this announcement is interpreted
data in relation	to		and the extent to which this is known, considering the deposit type.	to have intersected structures at low angles and sub-parallel to the main zone of mineralisation.
geological structure			If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this would be assessed and reported if considered material.
Sample security			The measures taken to ensure sample security.	All samples remain in the custody of company geologists, and are fully supervised from point of field collection to laboratorysubmission.
Audits or reviews			The results of any audits or reviews of sampling techniques and data.	None yet undertaken for these exploration data.

Section 2 Reporting of Exploration Results

Criteria		JORC Code explanation	JORC Code explanation	Commentary
Mineral tenement			Type, reference name/number, location and ownership including agreements or	The Company controls an 80% Interest in three granted Mining Licences in Western Australia
and land	tenure		material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and	covering the known mineralisation and surrounding area.
status			environmental settings.	The licences are M57/227, M57/240 and M57/533. The licence reports and expenditure are all
			The security of the tenure held at the time of reporting along with any known	in good standing at the time of reporting.
			impediments to obtaining a licence to operate in the area.	There are no known impediments with respect to operating in the area.
Exploration done by other parties			Acknowledgment and appraisal of exploration by other parties.	The deposits were identified by WMC in the early 1970s and have been extensively explored using surface and geophysical techniques prior to drilling. Mapping and soil geochemistry preceded airborne and surface geophysical techniques being applied to the project.
				The project has been drilled in 8 separate drill programs since 1971, with a total of 393 holes
				having been completed. These include 109 diamond drillholes, 109 RC drillholes, 169 RAB
				drillholes and 8 percussion holes.
				The deposits have never been mined.
Geology			Deposit type, geological setting and style of mineralisation.	The mineralisation at Manindi is hosted within an Archaean felsic and mafic volcanic sequence. The sequence has been extensively deformed by regional metamorphism and structural event
				related to the Youanmi Fault and emplacement of the Youanmi gabbro intrusion and other later
				granitic phases.
				The Manindi zinc-copper mineralisation is considered to be a volcanogenic massive sulphide
				(VMS) deposit, comprising a series of lenses of zinc-dominated mineralisation that have been
				folded,sheared,faulted,andpossiblyintruded bylater dolerite andgabbro.
Drill	hole		A summary of all information material to the understanding of the exploration results	All relevant drillhole information is supplied in Appendix 1 and Table 1 of the announcement.
Information			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

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Criteria		JORC Code explanation	JORC Code explanation	Commentary
			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 methods			In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated.	All exploration results are reported by a length weighted average. This ensures that short lengths of high grade material receive less weighting than longer lengths of low grade material.
			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.	In the case of data contained in Table 1, a lower cut-off grade of 0.2% Zn has been utilised. No high-grade cut has been applied. The cut-off has been selected to reflect a distinction between mineralised and anomalous material
			The assumptions used for any reporting of metal equivalent values should be clearly
			stated.
Relationship between mineralisation		 	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.	The mineralisation at Manindi is complex in nature but confined to a series of approximately NW-SE striking zones located along the contact between a package of felsic rocks in the west and a gabbroic intrusion to the east.
widths and intercept lengths			If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’).	The overall zone of lower grade mineralisation appears to be strata- bound following the complex NW-SE trending stratigraphy. Higher grade zones of zinc mineralisation are located within the lower grade envelope and these have more varying
				orientations. Overall the zone is steeply dipping to subvertical.
				A majority of the holes drilled to date dip steeply to the southwest and as such intersect the
				mineralisation at high angles, resulting in close to true thickness intersections. A smaller portion
				of the holes are drilled towards the northeast and appear to intersect the mineralisation at low
				angles.
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	Relevant diagrams are contained in the body of the announcement.
			limited to a plan view of drill hole collar locations and appropriate sectional views.
Balanced			Where comprehensive reporting of all Exploration Results is not practicable,	Results for all drill holes are discussed in the announcement and relevant mineralised
reporting			representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	intersections are listed in Table 1 in the announcement.
Other substantive			Other exploration data, if meaningful and material, should be reported including (but not	This announcement contains the results of a downhole geophysical survey as follows:
exploration data			limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk	Downhole Time-domain Electromagnetic (DHTEM) Survey by Vortex Geophysics  10m with 5m infill (over high gradient anomalies)
			density, groundwater, geotechnical and rock characteristics; potential deleterious or	 200m x 200m TX Loop, 100A TX current
			contaminating substances.	 Zonge ZTX-100 Transmitter
				 DigiAtlantis Receiver
				 Fluxgate 3 Component (A,U & V) B field
				 A,U and V component readings at each station
Further work			The nature and scale of planned further work (eg tests for lateral extensions or depth	Plans for further work are outlined in the body of the announcement.
			extensions or large-scale step-out drilling).	Diagrams highlighting the areas of possible extensions are included in the body of the
				announcement

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Criteria	JORC Code explanation	JORC Code explanation	Commentary
		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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Appendix 1 – Manindi RC Percussion Drill Hole Collar Locations

Hole ID	Hole Type	Depth (m)	Dip (o)	Azimuth (o)	Grid ID	East (m)	North (m)	RL (masl)
MNRC016	RC	258	-70	060	MGA94_51	663,166	6,819,035	510
MNRC017	RC	342	-70	060	MGA94_51	663,160	6,819,013	510
MNRC018	RC	216	-60	060	MGA94_51	662,883	6,819,339	510
MNRC019	RC	331	-60	060	MGA94_51	663,129	6,818,972	510
Total:		1,147

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