MOHO RESOURCES LIMITED — Capital/Financing Update 2020

Sep 29, 2020

GROUND HOLDING EXPANDED AT EAST SAMPSON DAM GOLD PROSPECT

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30 September 2020
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HIGHLIGHTS:

• Option to Purchase 100% of granted mining lease and six prospecting licences covering 6.6 km[2]

• Granted mining lease M27/488:

• contiguous with Moho’s 100% owned M27/263

• contains historical gold intersections and shafts in quartz porphyry similar to East Sampson Dam

• extends potential gold prospectivity of East Sampson Dam – Tyrell’s zone

• New tenement applications and acquisitions expand Moho tenure at Silver Swan North Project to 103 km[2]

• Geochemical surface sampling program of Moho’s tenements completed

NEXT STEPS:

• Report assays of geochemical program - October 2020

• Geochemical sampling of Option Tenements - Q2, 2020

• Complete compilation of historic exploration data over new application and option tenements – Q4, 2020

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Figure 1: Location of Moho’s tenements, including M27/263 (highlighted) in relation to regional geology of Silver Swan North Project

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“Moho’s recent ground acquisitions represent a significant addition of highly prospective tenements to the Silver Swan North project, most of which have seen no modern gold exploration. It is worth noting that all of the Option Tenements have a history of significant alluvial gold production”

Mr Shane Sadleir, Moho Managing Director

Moho Resources Ltd (ASX:MOH) ( Moho or Company ) is pleased to announce an update to exploration activities at the Silver Swan North project, including a substantial increase in ground holding close to the East Sampson Dam (ESD) gold prospect on M27/263 (Figure 1).

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Figure 2: Location of geochemical sample sites in relation to in relation to Moho tenements at Silver Swan North project, including recent applications and Option Tenements

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RECENT TENEMENT ACQUISITIONS AND APPLICATIONS BY MOHO

Moho has recently applied for as sole holder of a number of tenements and signed Option Agreements to secure rights to a number of adjacent or nearby tenements (Option Tenements) – refer to Figure 2, Table 1. The Option Tenements represent a significant addition to Moho’s highly prospective Silver Swan North project tenement holdings (Table 2).

Table 1: Acquisition Details of Option Tenements, Silver Swan North Project

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Owners Tenements Area Option Option Exercise Royalty (NSR)
(km2) Fee period Price
Hodges M27/488 55.3 $10,000 2 years $50,000 0 - 5,000oz Au - 0.5%;
5,001 to 49,999oz – 1.0%
>50,000 oz – 1.5%
Melville P27/2229 197.2 $5,000 2 years $20,000 0.5% Au; 1.0% other minerals
Saunders P27/2200 194 $5,000 2 years $20,000 0.5% Au; 1.0% other minerals
(NW)
Saunders P27/2226, 211.9 $10,000 2 years $40,000 0.5% Au; 1.0% other minerals
(SW) 2216-8
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ACQUISITIONS EXTEND GOLD PROSPECTIVITY POTENTIAL OF EAST SAMPSON DAM – TYRELL’S ZONE

Moho has recently completed a surface soil geochemical sampling program over its granted tenements at Silver Swan North (Figure 2). 3126 samples including standards and duplicates have been submitted to Bureau Veritas Perth for gold analysis by Aqua Regia digest and assay results are expected shortly. Selected samples over areas of ultramafic lithologies to test for nickel anomalism have also been submitted for a multi-element base metal suite of analyses.

The geochemical soil sampling program is scheduled to cover the Option Tenements during October and will be extended to cover any of the recent applications if granted. Particular attention will be given to testing whether the anomalous gold within the East Sampson Dam – Tyrells corridor extends into a 2.0km zone from M27/263 through M27/488 and into P27/2200.

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Figure 3: Cross section with historic gold intersections, ML27/488

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Work and evaluation by Moho’s technical team is ongoing to locate and review historic drillhole information across the Option Tenements; some significant historic gold results by Mt Kersey Mining are noted on M27/488 and close to the north western boundary of Moho’s 100% owned M27/263. Figure 3 shows these results occur in similar geology to East Sampson Dam, with gold spatially related to quartz porphyry intruding a mafic and sediment package. Figure 4 shows the location of the drilling traverse in relation to historical soil geochemistry at Tyrells and East Sampson Dam prospects.

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Figure 4: Location of cross section on M27/488 in relation to M27/263 and historical soil geochemistry

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NEXT STEPS

• Undertake surface geochemical sampling of Option Tenements - October 2020

• Review and report assays of geochemical program - October 2020

• Complete compilation of historic exploration data over new application and Option Tenements – Q4, 2020

• Undertake surface geochemical sampling across application tenements once granted

Table 2: Moho’s Interest in Silver Swan North Tenements

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Tenement ID Status Area (ha) Holder Anniversary Expiry Application Expenditure
E 27/528 LIVE 2,045 Moho Resources Ltd 10/11/2020 9/11/2020 $30,000
E 27/613 LIVE 1,481 Moho Resources Ltd 27/08/2020 26/08/2024 $15,000
E 27/626 LIVE 1,185 Moho Resources Ltd 17/07/2021 16/07/2025 14/11/2019 $15,000
M 27/0263 LIVE 793 Moho Resources Ltd 8/07/2020 7/07/2039 $79,300
M 27/488 LIVE 55 HODGES, Rod and Ken14/07/2020 13/07/2036 $10,000
P 27/2232 LIVE 200 Moho Resources Ltd 8/03/2020 7/03/2024 $8,000
P 27/2390 LIVE 93 Moho Resources Ltd 4/02/2020 3/02/2023 $3,720
P 27/2200 LIVE 194 SAUNDERS, Fred 23/02/2020 22/02/2023 $282.00
P 27/2216 LIVE 10 SAUNDERS, Fred 15/10/2020 14/10/2023 $2,000
P 27/2217 LIVE 10 SAUNDERS, Fred 15/10/2020 14/10/2023 $2,000
P 27/2218 LIVE 8 SAUNDERS, Fred 15/10/2020 14/10/2023 $2,000
P 27/2226 LIVE 184 SAUNDERS, Fred 16/11/2020 15/11/2023 $7,400
P 27/2229 LIVE 197 MELVILLE, Peter 30/11/2020 29/11/2023 $7,920
E 27/623 PENDING 1,775 Moho Resources Ltd 9/09/2019 -
E 27/633 PENDING 888 Moho Resources Ltd 9/03/2020 -
E 27/638 PENDING 296 Moho Resources Ltd 27/07/2020 -
E 27/639 PENDING 592 Moho Resources Ltd 27/07/2020 -
P 27/2441 PENDING 200 Moho Resources Ltd 27/11/2019 -
P 27/2456 PENDING 86 Moho Resources Ltd 12/05/2020 -
Total 10,292 $182,622
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About Moho Resources Ltd

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Moho Resources Ltd is an Australian mining company which listed on the ASX in November 2018. The Company is focused on gold and nickel exploration at Empress Springs, Silver Swan North and Burracoppin.

Moho’s Board is chaired by Mr Terry Streeter, a well-known and highly successful West Australian businessman with extensive experience in funding and overseeing exploration and mining companies, including Jubilee Mines NL, Western Areas NL and Midas Resources Ltd.

Moho has a strong and experienced Board lead by geoscientist Shane Sadleir as Managing Director, Commercial Director Ralph Winter and Adrian Larking, lawyer and geologist, as Non-Executive Director.

Highly experienced geologists Bob Affleck (Exploration Manager) and Max Nind (Principal Geologist) are supported by leading industry consultant geophysicist Kim Frankcombe (ExploreGeo Pty Ltd) and experienced consultant geochemists Richard Carver (GCXplore Pty Ltd) and Dr Carl Brauhart (CSA Global Pty Ltd).

Moho’s geophysical programs and processing and analysis of the results are supervised by Kim Frankcombe (ExploreGeo Pty Ltd) who is a geologist and geophysicist with 40 years’ experience in mineral exploration. He has worked for major mining companies, service companies and for over 20 years as an independent geophysical consultant. He was a member of the discovery team for several significant deposits including one Tier 1 deposit. He manages the ExploreGeo consulting group which provides specialist geophysical advice to explorers.

Dr Jon Hronsky (OA) provides high level strategic and technical advice to Moho. Jon has more than thirty years of experience in the global mineral exploration industry, primarily focused on project generation, technical innovation and exploration strategy development. He has worked across a diverse range of commodities and geographies, and has particular expertise in targeting nickel sulphide and gold deposits.

ENDS

The Board of Directors of Moho Resources Ltd authorised this announcement to be given to ASX.

For further information please contact:

Shane Sadleir, Managing Director Ralph Winter, Commercial Director T: +61 411 704 498 T: +61 435 336 538 E: shane@mohoresources.com.au E: ralph@mohoresources.com.au