MOHO RESOURCES LIMITED — Capital/Financing Update 2021

Nov 10, 2021

ASX Announcement 11 November 2021

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New Tenement Acquisitions Expand Gordons Gold Project in Key Prospect Areas - Amendment

Yandal Resources Limited (ASX: YRL) is releasing this updated version of ASX release announced earlier today titled “ New Acquisitions and Results - Gordons Gold Project ” dated 11 November 2021, to include the conditions precedent to the agreement as per the requirements under ASX Listing Rule Guidance Note 8.

On page 7 of the announcement the conditions precedent are:

CONDITIONS PRECEDENT & YRL WAIVER

This Agreement is subject to satisfaction on or before 31 January 2022 of the following conditions precedent:

• (a) YRL notifying MOH in writing that YRL is satisfied with YRL’s due diligence investigations in respect of the Saunders Option Agreement which has been disclosed to YRL in accordance with the written permission given to MOH by Frederick Charles Saunders;

• (b) YRL and MOH each having notified the other Party in writing that their respective board of directors had resolved to proceed with the transaction set out in this Agreement;

• (c) the Parties obtaining all necessary regulatory approvals or waivers pursuant to the ASX Listing Rules, Corporations Act or any other law to allow the Parties to lawfully complete the matters set out in this Agreement; and

• (d) the Parties obtaining all third party approvals and consents, including the consent of the Minister responsible for the Mining Act 1978 (WA) (Mining Act) (if required), necessary to lawfully complete the transactions and transfers to the other Party set out in this Agreement.

together the “ Conditions Precedent ”.

YRL has the discretion and right to waive all or any of the above Conditions Precedent except the written notice from MOH in clause (b) by notice in writing to MOH at any time before 31 January 2022.

Authorised by the Board of Yandal Resources

For further information please contact:

Lorry Hughes Bianca Taveira Managing Director Company Secretary Yandal Resources Limited +61 8 9389 9021 yandal@yandalresources.com.au yandal@yandalresources.com.au

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Registered Address

Yandal Resources Limited ACN 108 753 608 ABN 86 108 753 608

Board Members Gold Projects Lorry Hughes Managing Director/CEO Ironstone Well (100% owned) Tim Kennedy Non-Executive Chair Barwidgee (100% owned) Katina Law Non-Executive Director Mt McClure (100% owned) Bianca Taveira Company Secretary Gordons (100% owned) Shares on Issue 101,788,135 T +61 8 9389 9021 Share Price $0.43 E yandal@yandalresources.com.au Market Cap $44M W www.yandalresources.com.au ASX Code YRL

A 159 Stirling Highway Nedlands WA 6009 P PO Box 1104 Nedlands WA 6909

ASX Announcement 11 November 2021

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New Tenement Acquisitions Expand Gordons Gold Project in Key Prospect Areas

• Yandal has executed three separate agreements to acquire seven new mining tenements immediately adjacent to and within the Gordons gold project

• Two of the acquisition tenements are located contiguous with the Star of Gordon prospect and effectively doubles the available strike length for exploration to ~4km within the highly prospective Gordon-Sirdar gold mine corridor

• Individual 1m assay results have been returned from RC and AC samples (4m composite results reported 28 September 2021 extending mineralisation at the Star of Gordon and Malone prospects, highlights include

– Star of Gordon Prospect RC drilling

• ➢ 5m @ 1.3g/t Au from 27m including 1m @ 2.6g/t Au ; and 9m @ 1.8g/t Au from 47m including 1m @ 9.6g/t Au (YRLRC619)[1]

• ➢ Hole YRLRC619 is located 50m north along strike from new mineralisation including 10m @ 8.4g/t Au from 43m including 1m @ 52.5g/t Au (YRLRC630)[1]

• ➢ Eight extensional drill holes completed to a maximum depth of 180m – results pending

– Malone Prospect AC drilling

• ➢ 4m @ 2.0g/t Au from 63m including 1m @ 4.0g/t Au (YRLAC668)[1]

• ➢ 2m @ 2.7g/t Au from 68m including 1m @ 5.1g/t Au (YRLAC669)[1] ➢ 11m @ 0.3g/t Au from 71m (YRLAC690)

• RC drilling is continuing at the Gordons Dam and Star of Gordons prospects. Numerous Aircore, RC and diamond drilling results are awaited for the Malone, Andrews and Bradman prospects which when received will enable new drilling targets to be prioritised.

Yandal Resources’ Managing Director; Mr Lorry Hughes commented:

“The new acquisition tenements substantially increase the exploration target size at the Star of Gordon prospect and new drilling programs will initially test areas adjacent to and beneath historic mine workings. There has been substantial alluvial prospecting activities in recent times over Yandal’s and the new tenements, however, very little drilling deep enough to penetrate the bedrock has occurred.

The depth to bedrock is 20-40m in most areas at the Star of Gordon prospect and RC and diamond drilling is required to provide a thorough test. I look forward to our exploration team commencing comprehensive exploration programs in the near term”.

1 Refer to YRL ASX announcement dated 28 September 2021.

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Registered Address Yandal Resources Limited ACN 108 753 608 ABN 86 108 753 608 A 159 Stirling Highway Nedlands WA 6009 P PO Box 1104 Nedlands WA 6909	Board Members Lorry Hughes Managing Director/CEO Katina Law Non-Executive Director Tim Kennedy Chairman Bianca Taveira Company Secretary T +61 8 9389 9021 E yandal@yandalresources.com.au W www.yandalresources.com.au	Gold Projects Ironstone Well(100% owned) Barwidgee(100% owned) Mt McClure(100% owned) Gordons(100% owned) Shares on Issue 101,788,135 Share Price $0.43 Market Cap $44M ASX Code YRL

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Yandal Resources Ltd (ASX: YRL , “Yandal Resources” or the “Company”) is pleased to provide an update on exploration activities at the 100%-owned Gordons gold project which is located 30km north of KalgoorlieBoulder in Western Australia (Figure 1).

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Moho Resources Ltd
(ASX: MOH) 100% Gold
Rights Acquisition
P27/2226
Inset Map P27/2216-18
refer Figure 4
~4km
Inset Map
P27/2234 Strike refer Figure 2
YRLAC0698, 700
YRLAC0705
YRLAC0711
YRLAC0713
Renton and Daws 100% Mineral Rights -15 Waldon 100%
Acquisition Mineral Rights
Acquisition
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Figure 1 – Location map of key prospects within the Gordons Gold project in relation to nearby operating third party gold mines, new acquisition tenements/current project tenements and regional geology.

ASX Announcement 11 November 2021

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Star of Gordon Prospect

The prospect is located 2km directly NNW along strike from the Gordon Sirdar underground gold mine which is owned and operated by FMR Investments Pty Ltd (“FMR”) (Figure 1). FMR are currently mining ~60,000t of ore per month using conventional underground mining methods and transporting the ore via road haulage for processing at their mill in Coolgardie.

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OPEN
ALONG
STRIKE
YRLRC630
45m @ 2.0g/t Au [1] (18m) incl.
-10m @ 8.4g/t Au (43m)
-2m @ 35.3g/t Au (50m)
-1m @ 18.0g/t Au (50m)
Currently
5m @ 1.3g/t Au [1] (27m) incl. planned Refer
-1m @ 2.6g/t Au (30m) holes Figure 3
9m @ 1.8g/t Au (47m) incl.
-1m @ 9.6g/t Au (51m)
Assays
pending
YRLRC514 OPEN AT
10m @ 2.5g/t Au (27m) [ 2] incl. DEPTH &
-1m @ 4.4g/t Au (31m)
-2m @ 6.9g/t Au (34m) DOWN
-1m @ 5.2g/t Au (34m) PLUNGE
-1m @ 8.6g/t Au (35m)
-2m @ 2.5g/t Au (41m)
YRLRC513
8m @ 4.7g/t Au (15m) [ 2] incl.
-6m @ 5.9g/t Au (15m) Potential for sub-
-2m @ 10.2g/t Au (19m) parallel structures
-1m @ 13.3g/t Au (19m)
5m @ 1.0g/t Au (35m) [ 2] incl.
Current
-1m @ 2.7g/t Au (39m)
planned
holes
6m @ 1.4g/t Au (94m) [ 2] incl. OPEN
-1m @ 6.1g/t Au (96m)
ALONG
STRIKE
20m @ 0.8g/t Au (14m) [ 2] incl.
-5m @ 2.4g/t Au (21m)
-1m @ 4.7g/t Au (22m)
-1m @ 3.1g/t Au (23m)
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Figure 2 – Plan view drill collar map for the Star of Gordon prospect coloured by maximum gold grade projected to the drill collar, recent downhole intercepts, new RC holes with assays pending and some currently planned RC holes. 1 Refer to YRL ASX announcement dated 28 September 2021, 2 Refer to YRL ASX announcement dated 1 July & 27 May 2021.

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One metre fire-assay results have been received from reverse circulation (“RC”) hole YRLRC0632[1] (Table 1). Encouraging mineralisation was discovered in two shallow zones including;

• ➢ 5m @ 1.3g/t Au from 27m including 1m @ 2.6g/t Au ; and

• ➢ 9m @ 1.8g/t Au from 47m including 1m @ 9.6g/t Au

The hole is located ~50m north along strike from a drilled section containing several well mineralised holes (Figures 2 & 3) including;

• ➢ 45m @ 2.0g/t Au from 18m including 10m @ 8.4g/t Au (YRLRC630)[1]

• ➢ 8m @ 4.7g/t Au from 15m including 1m @ 13.3g/t Au (YRLRC513)[2]

• ➢ 10m @ 2.5g/t Au from 27m including 1m @ 8.6g/t Au (YRLRC514)[2]

An initial eight hole RC follow-up program to test for extensions at depth has been completed with first results expected by mid-November.

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A A’
Assays
Pending
45m @ 2.0g/t Au (18m) [1] incl.
-10m @ 8.4g/t Au (43m)
-2m @ 35.3g/t Au (50m)
-1m @ 18.0g/t Au (50m)
-1m @ 52.5g/t Au (51m)
8m @ 4.7g/t Au (15m) [2] incl.
-6m @ 5.9g/t Au (15m)
-1m @ 13.3g/t Au (19m)
10m @ 2.5g/t Au (27m) [2] incl. Assays
-1m @ 4.4g/t Au (31m)
-2m @ 6.9g/t Au (34m) Pending
-1m @ 5.2g/t Au (34m)
-1m @ 8.6g/t Au (35m)
-2m @ 2.5g/t Au (41m)
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Figure 3 – Cross Section plan of the Star of Gordon gold prospect (refer Figure 2 for location).

The new acquisition tenements in the Star of Gordon prospect area are located immediately along strike from interpreted mineralisation trends based on the limited historic and recent drilling. The combined area available for exploration has been expanded to ~4km of strike and there is also potential for parallel zones.

Data compilation of historic exploration activities on the new tenements is underway ahead of heritage surveys and statutory approvals to conduct new exploration drilling as soon as possible.

1 Refer to YRL ASX announcement dated 28 September 2021, 2 Refer to YRL ASX announcement dated 1 July & 27 May 2021.

ASX Announcement 11 November 2021

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Malone, Bradman, Gordons Dam and Andrews Prospects

At the Malone Prospect individual 1m fire-assay results have been received from resampling 12 Air-core (“AC”) drill holes with anomalous 4m composite results released on 28 September 2021 (Figures 1, 4 & Table 2). Highlights include;

• ➢ 4m @ 2.0g/t Au from 63m including 1m @ 4.0g/t Au (YRLAC668)

• ➢ 2m @ 2.7g/t Au from 68m including 1m @ 5.1g/t Au (YRLAC669)

• ➢ 4m @ 0.9g/t Au from 66m including 1m @ 2.7g/t Au (YRLAC671)

• ➢ 11m @ 0.3g/t Au from 71m (YRLAC690)

One metre fire-assay results have also been received from RC hole YRLRC0638[1] (Table 1). Encouraging mineralisation was returned which requires priority follow-up including;

• ➢ 23m @ 0.4g/t Au from 90m; and

• ➢ 1m @ 1.4g/t Au from 143m to end-of hole

Numerous additional RC holes have been completed to test for extensions to previously discovered mineralisation at depth and along strike extending 3km south to the Bradman Prospect . The ongoing drilling program is targeting mineralisation within mafic and felsic rocks interpreted to be related to the Malone Contact or structure - assays pending.

A four hole diamond drilling program for 1,852.2m was completed in September to test depth extensions and improve the geological understanding of the area in a jog position of the Malone contact where highgrade oxide and primary RC intercepts had previously been discovered. Improving the Company’s understanding of the geology in this area will assist with the definition of new mineralisation targets along strike and in adjacent locations.

Three holes (YRLDD0009-11) were drilled on the same west-east section and YRLDD0013 was located on a west-east section a further 200m north along strike (Figure 4). All holes were drilled towards the southwest and successfully intersected the felsic-mafic contact penetrating well into the mafic sequence.

Hole YRLDD0009 & 10 intersected multiple low level gold intervals defined within felsic, mafic and intrusive porphyry units[1] . The core from the remaining two holes (YRLDD0011 & 13)[1] is currently undergoing geological logging, cutting and assaying with results anticipated during the December Quarter.

At the Gordons Dam Prospect (Figures 1 & 4) 50 new RC holes have been completed. The holes infill known shallow mineralisation areas to provide sufficient data for the compilation of an initial Mineral Resource Estimate (“MRE”). The initial MRE is planned for completion in the March Quarter 2022.

Assays are pending from a single diamond hole (YRLDD0012)[1] drilled for 261.50m completed with the aim to improve the structural understanding of high-grade mineralisation at depth. Assays are pending for the hole with assay results expected to be available in the December Quarter.

At the Andrews Prospect (Figure 1) individual fire-assay results have been received from resampling seven AC drill holes with anomalous 4m composite results released on 28 September 2021 (Figures 1 & Table 2). Highlights include;

• ➢ 2m @ 0.6g/t Au from 35m (YRLAC705) ➢ 2m @ 0.2g/t Au from 37m (YRLAC711)

1 Refer to YRL ASX announcement dated 28 September 2021.

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GORDONS
Diamond hole DAM
YRLDD0012
MALONE (assays pending)
23m @ 0.4g/t Au (90m) incl.
-2m @ 1.2g/t Au (93m)
1m @ 1.4g/t Au from 143m to EOH
Diamond hole
YRLDD0013
(assays pending) Diamond hole
YRLDD0011
(assays pending)
4m @ 2.0g/t Au (63m) incl.
-2m @ 3.1g/t Au (63m)
-1m @ 4.0g/t u (64m)
2m @ 2.7g/t Au (68m) incl.
-1m @ 5.1g/t Au (68m)
4m @ 0.9g/t Au (66m) incl.
-1m @ 2.7g/t Au (66m)
4m @ 0.5g/t Au (73m)
11m @ 0.3g/t Au (71m)
2m @ 0.9g/t Au (97m) incl.
-1m @ 1.7g/t Au (97m)
1m @ 2.2g/t Au (113m)
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Figure 4 – Plan view drilling collar map coloured by maximum gold grade (g/t Au) projected to the drill collar, for the Gordons Dam and Malone prospects and interpreted geology (Refer to Tables 1 & 2 for all new results).

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Acquisition Details

The Company has entered into three separate agreements with third parties to acquire interests in mining tenements adjacent to and within the Gordons gold project.

Granted Prospecting Licence P27/2234 is located immediately west of the Malone prospect (Figure 1) and was acquired on a 100% basis from local prospectors Darrall Renton and John Daws for a consideration of 60,000 fully paid ordinary shares in Yandal Resources. The shares were issued on 25 October 2021.

A Heads of Agreement (“HOA”) has been executed with Moho Resources Limited (ASX: MOH, “Moho”) that provides for Yandal Resources to acquire a 100% interest in the gold and related metal rights over granted Prospecting Licences P27/2226, P27/2216-18 (“Saunders Tenements”) and Prospecting Licence application P27/2456 (“Moho Tenement”) (Figure 1).

The Company will grant a 0.5% Net Smelter Return (“NSR”) royalty on all gold and related metals produced from the Saunders Tenements to both Frederick Saunders and Moho plus a 1% NSR royalty on gold and related metals produced from the Moho Tenement to Moho.

The HOA also provides for Moho to acquire from Yandal Resources a 100% interest in the nickel, copper, cobalt and platinum group elements and related metal rights over some of Yandal Resources’ tenements. The tenements to be divested only include those that are interpreted to contain a majority of ultramafic rock sequences as shown in Figure 1.

Yandal Resources tenements subject to the Moho HOA include E24/198, P27/2206, E27/536, M27/237 (“Mulgarrie North Tenements”) and E27/601, P27/2325, P27/2331, P27/2340-41, P27/2355-64. Yandal will retain a 1% NSR royalty on nickel, copper, cobalt and platinum group elements produced from these tenements and be granted the same over the Saunders and Moho Tenements.

The HOA is subject to the completion of Final Agreements and royalty deeds to be negotiated in good faith for completion prior to 31 January 2022.

Yandal Resources’ consideration for the Moho acquisition is $50,000.00 cash + GST. Moho’s consideration is to provide 50% of the minimum expenditure commitments otherwise attributable to the Mulgarrie North Tenements for two years from the date of execution of the HOA.

Thirdly, granted Mining Lease M27/11 (Figures 1 & 2) was acquired on a 100% basis from local prospector Russel Waldon for the consideration of $65,000.00 cash plus GST.

Next Steps

Key exploration activities planned during the December and March Quarters include;

• Receive and interpret pending AC, RC and diamond drill assays from the Malone, Gordons Dam, Star of Gordon, Andrews, Bradman, Challenger, Parmelia, Success and HMS Sulphur prospects;

• Commence diamond drilling at the priority Star of Gordon, Gordons Dam and Bradman prospects;

• Compile an open pit MRE and commence feasibility studies for the Gordons Dam prospect;

• Commence detailed planning and execution of heritage surveys over key prospect areas within the Ironstone Well and Barwidgee projects including priority areas adjacent to and along strike from the Flushing Meadows, Oblique, Quarter Moon, Flinders Park and Sims Find prospects.

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Table 1 – RC drill collar details and final down hole assay results - Gordons project.

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Hole Id	North (m)	East (m)	Depth (m)	Dip (Deg.)	Azi. (Deg.)	From (m)	To (m)	Interval (m)	Au1 g/t (FA50)	Au2 g/t (FA50)
Star of Gordon Prospect RC Intervals (>0.1g/t Au)
YRLRC0632	6632696	363284	204	-60	240	27 32		5 1.3
				including		27 28		1 2.2
				including		30 31		1 2.6 2.6
						35	37	2	0.2
						47 56		9 1.8
				including		49 52		3 4.6
				including		51 52		1 9.2 9.6
						63	64	1	0.2
						108	110	2	0.4
						176	179	3	0.4
YRLRC0667	6632726	363469	180	-90	360	Assays Pending
YRLRC0668	6632801	363405	180	-90	360	Assays Pending
YRLRC0669	6632764	363437	180	-90	360	Assays Pending
YRLRC0721	6632635	363440	150	-60	230	Assays Pending
YRLRC0722	6632673	363406	150	-60	230	Assays Pending
YRLRC0723	6632713	363376	150	-60	230	Assays Pending
YRLRC0724	6632747	363340	150	-60	230	Assays Pending
YRLRC0725	6632583	363220	78	-60	230	Assays Pending
Malone Prospect RC Intervals (>0.1g/t Au)
YRLRC0638	6633202	359093	144	-60	220	90 113 23 0.4
				including		93 95 2 1.2
				Including		102 103 1 1.1 1.2
						141 144 3 0.5#
				Including		143 144 1 1.4# 1.3#
Malone Prospect Diamond Drilling
YRLDD0011	6633095	359489	814.3	-60	220	Assays Pending
YRLDD0013	6632926	359107	305.3	-60	220	Assays Pending
Gordons Dam Prospect Diamond Drilling
YRLDD0012	6633613	359689	261.5	-60	40	Assays Pending

Table 2 – AC drill collar details and final down hole assay results - Gordons gold project.

Hole Id	North (m)	East (m)	Depth (m)	Dip (Deg.)	Azi. (Deg.)	From (m)	To (m)	Interval (m)	Au1 g/t (FA50)	Au2 g/t (FA50)
Malone Prospect AC Intervals(>0.10g/t Au)
YRLAC0668	6632727	358754	72	-90	360	63	67	4	2.0
				including		63	65	2	3.1
				including		64	65	1	4.0
YRLAC0669	6632695	358792	72	-90	360	68	70	2	2.7
				including		68	69	1	5.1	4.8
YRLAC0671	6632630	358869	76	-90	360	66	70	4	0.9
				including		66	67	1	2.5	2.7
YRLAC0672	6632598	358907	77	-90	360	76	77	1	0.5
YRLAC0673	6632566	358945	79	-90	360	72	74	2	0.3

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Hole Id	North (m)	East (m)	Depth (m)	Dip (Deg.)	Azi. (Deg.)	From (m)	To (m)	Interval (m)	Au1 g/t (FA50)	Au2 g/t (FA50)
YRLAC0676	6632470	359060	69	-90	360	63	67	4	0.7
YRLAC0677	6632437	359098	78	-90	360	60	61	1	0.5
YRLAC0686	6632638	358549	84	-90	360	76	77	1	0.2
						79	81	2	0.5
YRLAC0689	6632541	358663	81	-90	360	73	77	4	0.5
YRLAC0690	6632509	358702	106	-90	360	71	82	11	0.3
YRLAC0694	6632381	358855	101	-90	360	97	99	2	0.9
				including		97	98	1	1.7	1.7
YRLAC0695	6632348	358893	126	-90	360	113	114	1	2.2	2.1
Andrews Prospect AC Intervals(>0.10g/t Au)
YRLAC0698	6632246	360175	43	-60	240	36	38	2	0.3
YRLAC0700	6632296	360261	48	-60	240	38	40	2	0.3
						41	42	1	0.1
YRLAC0705	6632065	360222	40	-60	240	35	37	2	0.6
YRLAC0711	6632215	360481	44	-60	240	37	39	2	0.2
				including		37	38	1	0.3	0.8
YRLAC0713	6631834	360182	51	-60	240	43	44	1	0.1
YRLAC0714	6631859	360225	50	-60	240	47	48	1	0.1
YRLAC0715	6631884	360268	45	-60	240	41	42	1	0.3

Notes to Tables 1-2 ; 1. An accurate dip and strike and the controls on mineralisation are only interpreted and the true width of mineralisation is unknown at this stage. 2. For AC and RC drilling, 4m composite samples are submitted are analysed using a 50g Aqua Regia digest with Flame AAS gold finish (0.01ppm detection limit), for DD drilling samples are analysed using a 50g fire assay with ICP-MS finish gold analysis (0.01ppm detection limit) by Aurum Laboratories in Beckenham, Western Australia. 3. Au1 is the original assay, Au2 is the highest grade from duplicate or repeat samples if they have been completed. 4. g/t (grams per tonne). 5. Intersections are calculated over intervals >0.10g/t or as indicated. 6. Drill type AC = Air-core, RC = Reverse Circulation, DD = Diamond. 7. Coordinates are in GDA94, MGA Z51. 8. # denotes an end of hole assay . 9. ABD denotes hole abandoned before target depth. 10. NSA denotes no significant assay. 11. * denotes a 4m composite assay unless otherwise indicated.

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About Yandal Resources Limited

Yandal Resources listed on the ASX in December 2018 and has a portfolio of advanced gold exploration projects in the highly prospective Yandal and Norseman-Wiluna Greenstone Belts of Western Australia.

Yandal Resources’ Board has a track record of successful discovery, mine development and production.

November 2020 Mineral Resource Estimate Summary Table – Flushing Meadows Gold Deposit

Material Type	Indicated	Indicated			Inferred			Total
	Tonnes	Au(g/t)	Oz	Tonnes	Au(g/t)	Oz	Tonnes	Au(g/t)	Oz
Laterite	89,853	1.26	3,631	86,671	1.23	3,422	176,524	1.24	7,054
Oxide	2,015,900	1.33	86,071	2,246,845	1.10	79,389	4,262,745	1.21	165,420
Transition	35,223	1.20	1,360	1,160,471	1.10	40,966	1,195,695	1.10	42,325
Fresh				1,751,484	0.95	53,440	1,751,484	0.95	53,440
Total	2,140,976	1.32	91,062	5,245,471	1.05	177,217	7,386,448	1.13	268,352

* Reported above 0.5g/t Au lower cut-off grade, refer to Yandal Resources Ltd ASX announcement dated 4 November 2020 for full details.

Competent Person Statement

The information in this document that relates to Exploration Results, geology and data compilation is based on information compiled by Mr Trevor Saul, a Competent Person who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Saul is the Exploration Manager for the Company, is a full-time employee and holds shares and options in the Company.

Mr Saul 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 as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Saul consents to the inclusion in this announcement of the matters based on this information in the form and context in which it appears.

The information in this announcement that relates to the Flushing Meadows Mineral Resource Estimate is based on information compiled and generated by Andrew Bewsher, an employee of BM Geological Services Pty Ltd (“BMGS”). Both Andrew Bewsher and BMGS hold shares in the company. BMGS consents to the inclusion, form and context of the relevant information herein as derived from the original resource reports. Mr Bewsher has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which is being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the JORC ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’.

Authorised by the board of Yandal Resources

For further information please contact:

Lorry Hughes Bianca Taveira Managing Director Company Secretary Yandal Resources Limited +61 8 9389 9021 yandal@yandalresources.com.au yandal@yandalresources.com.au

ASX Announcement 11 November 2021

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Appendix 1 – Gordons Gold Project JORC Code (2012) Table 1, Section 1 and 2

Mr Trevor Saul, Exploration Manager of Yandal Resources compiled the information in Section 1 and Section 2 of the following JORC Table 1 and is the Competent Person for those sections. The following Table and Sections are provided to ensure compliance with the JORC Code (2012 edition) requirements for the reporting of Mineral Resources.

Section 1 Sampling Techniques and Data

Criteria	JORC Code explanation	Commentary	Commentary
Sampling	Nature and quality of sampling (e.g. cut channels, random chips,	•	4m composite samples taken with a sample scoop thrust into the RC sample bag which is laid out in
techniques	or specific specialised industry standard measurement tools		individual metres in a plastic bag on the ground. 1m single splits taken using a cone splitter at time of
	appropriate to the minerals under investigation, such as down		drilling, if 4m composites are anomalous (>100-200ppb or lower depending on location), 1m single splits
	hole gamma sondes, or handheld XRF instruments, etc.). These		are submitted for analyses. Average sample weights about 3.0kg for 4m composites and 2.0-3.0kg for
	examples should not be taken as limiting the broad meaning of		1m samples.
	sampling.	•	For AC drilling samples laid out on the ground and sampled as above. Average weights are 2.0-3.0kg
			for composites and 3.0-4.0kg for singles. RC samples are put in green bags on the ground, 1m samples
			are cone split automatically and placed on top of green bags until 4m composite assays are available
			to ascertain which 1m samples to submit to the laboratory.
		•	For diamond drilling (“DD”)HQor NQis cut in half and assayed.
	Include reference to measures taken to ensure sample	•	For RC and AC drilling regular air and manual cleaning of cyclone to remove hung up clays where
	representivity and the appropriate calibration of any		present. For all drilling methods, regular standards are submitted during composite analysis and
	measurement tools or systems used.		standards, blanks and duplicates for 1m samples. Based on statistical analysis and cross checks of
			these results, there is no evidence to suggest the samples are not representative. Standards & replicate
			assays takenby thelaboratory.
	Aspects of the determination of mineralisation that are Material	•	AC, RC and DD drilling was used to obtain 1m samples (or smaller in the case of DD) from which
	to the Public Report. In cases where ‘industry standard’ work		approximately 2.0-3.0kg sample was pulverised to produce a 50g Aqua Regia digest with Flame AAS
	has been done this would be relatively simple (e.g. ‘reverse		gold finish (0.01ppm detection limit) for AC samples and a 50g fire assay with ICP-MS (inductively
	circulation drilling was used to obtain 1 m samples from which 3		coupled plasma - mass spectrometry) finish gold analysis (0.01ppm detection limit) for RC/DD samples
	kg was pulverised to produce a 30 g charge for fire assay’). In		by Aurum Laboratories in Beckenham, Western Australia. Samples assayed for Au, As, Cu, Pb, Zn and
	other cases more explanation may be required, such as where		Ag for AC composites and Au only for RC and DD. Drilling intersected oxide, transitional and primary
	there is coarse gold that has inherent sampling problems.		mineralisation to a maximum drill depth of 218m.
	Unusual commodities or mineralisation types (e.g. submarine
	nodules) may warrant disclosure of detailed information.
Drilling	Drill type (e.g. core, reverse circulation, open-hole hammer,	•	RC drilling with a 4’ ½ inch face sampling hammer bit. AC drilling used a 3’ ½ inch blade bit. DD drilling
techniques	rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core		used a roller bit down to hard then HQ and NQ sized rods.
	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	•	RC and AC recovery and meterage was assessed by comparing drill chip volumes or (sample bags for
recovery	recoveries and results assessed.		RC) for individual meters. Estimates of sample recoveries were recorded. Routine checks for correct
	Measures taken to maximise sample recovery and ensure representative nature of the samples.	•	sample depths are undertaken every RC rod (6m). DD recoveries were estimated by the drillers and written on core blocks. RC sample recoveries were visually checked for recovery, moisture and contamination. The cyclone
			was routinely cleaned ensuring no material build up.
		•	Due to the generally good/standard drilling conditions and powerful drilling rig the geologist believes the
			RC and AC samples are representative,some bias would occur in the advent ofpoor sample recovery

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Criteria	JORC Code explanation	Commentary	Commentary
	Whether a relationship exists between sample recovery and		which was logged where rarely encountered. At depth there were some wet samples and these are
	grade and whether sample bias may have occurred due to		recorded on geological logs.
	preferential loss/gain of fine/coarse material.
Logging	Whether core and chip samples have been geologically and	•	RC, AC and DD logging is routinely completed on one metre intervals at the rig or yard by the geologist.
	geotechnically logged to a level of detail to support appropriate		The log was made to standard logging descriptive sheets and transferred into Micromine software on a
	Mineral Resource estimation, mining studies and metallurgical		computer once back at the office. Logging was qualitative in nature.
	studies.	•	All intervals logged for AC and RC drilling completed during drill program with a representative sample
	Whether logging is qualitative or quantitative in nature. Core (or		placed into chip trays.
	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 all core	•	DD, AC and RC samples taken.
techniques	taken.	•	AC and RC samples were collected from the drill rig by spearing each 1m collection bag (RC) or from
and sample preparation	If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.	•	the ground (AC) and compiling a 4m composite sample. Single splits were automatically taken by the rig cone splitter for RC. Wet or dry samples were noted in the logs. For Yandal Resources Ltd samples, duplicate 1m samples were taken in the field, with standards and
	For all sample types, the nature, quality and appropriateness of		blanks inserted with the 1m and 4m samples for analyses.
	the sample preparation technique.	•	1m samples were consistent and weighed approximately 3.0-4.0kg for RC (2.0-3.0kg for AC) and it is
	Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.	•	common practice to review 1m results and then review sampling procedures to suit. Once samples arrived in Perth, further work including duplicates and QC was undertaken at the laboratory. Yandal Resources Ltd has determined that at the Gordons Dam prospect there is sufficient
	Measures taken to ensure that the sampling is representative of		data for a MRE and an initial one is planned upon completion upon receipt of all pending results and
	the in situ material collected, including for instance results for		QA/QC re-sample and re-assay programs (however the deposit is open in many directions).
	field duplicate/second-half sampling.	•	Mineralisation mostly occurs within intensely oxidised saprolitic and palaeochannel clays after altered
	Whether sample sizes are appropriate to the grain size of the material being sampled.		mafic, porphyry and felsic rocks (typical greenstone geology). The sample size is standard practice in the WA Goldfields to ensure representivity.
Quality of	The nature, quality and appropriateness of the assaying and	•	The composite 4m AC samples were assayed using a 50g Aqua Regia digest with Flame AAS gold
assay data	laboratory procedures used and whether the technique is		finish (0.01ppm detection limit) finish Au, Ag, As, Cu, Pb and Zn analysis (0.01ppm detection limit) by
and	considered partial or total.		Aurum Laboratories in Beckenham, Western Australia for gold only. Initial 4m samples were assayed
laboratory tests	For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.	• •	by Aqua Regia with fire assay checks (0.01ppm detection limit). RC and DD sampling assayed for Au only. No geophysical assay tools were used. Laboratory QA/QC involves the use of internal lab standards using certified reference material, blanks, splits and replicates as part of the in-house procedures. QC results (blanks, duplicates, standards) were
	Nature of quality control procedures adopted (e.g. standards,		in line with commercial procedures, reproducibility and accuracy. These comparisons were deemed
	blanks, duplicates, external laboratory checks) and whether		satisfactory. Some re-splitting with an onsite three-tier riffle splitter has been undertaken in the
	acceptable levels of accuracy (i.e. lack of bias) and precision		palaeochannel area for analyses from RC samples. A number of samples have been selected for future
	have been established.		metallurgical testing. A number of 1m residues from RC assays are planned to be analysed at other
			laboratories for comparison.
Verification of	The verification of significant intersections by either independent	•	Work was supervised by senior Aurum Laboratory staff experienced in metals assaying. QC data reports
sampling and	or alternative company personnel.		confirming the sample quality have been supplied.
assaying		•	Data storage as PDF/XL files on company PC in the Perth office.

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Criteria	JORC Code explanation	Commentary	Commentary
	The use of twinned holes.	•	No data was adjusted.
	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.	•	Significant intercepts are reported in Tables 1 & 2 by Mr Trevor Saul of Yandal Resources and were generated by compositing to the indicated downhole thickness. A 30ppb Au lower cut-off is used for 4m composite AC results (0.10g/t Au for 1m AC, RC and DD) and intersections generally calculated with a
	Discuss any adjustment to assay data.		maximum of 2m of internal dilution.
Location of	Accuracy and quality of surveys used to locate drill holes (collar	•	All drill collar locations were initially pegged and surveyed using a hand held Garmin GPS, accurate to
data points	and down-hole surveys), trenches, mine workings and other		within 3-5m. Holes were drilled at various spacings dependent on prospect assessment. All reported
	locations used in Mineral Resource estimation.		coordinates are referenced to the GDA. The topography is very flat at the location of the Gordons Dam
	Specification of the grid system used.		prospect. Down hole surveys utilised a proshot camera at the end of hole plus every 30m while pulling out of the hole.
	Quality and adequacy of topographic control.	•	Grid MGA94 Zone 51.
		•	Topography is very flat, small differences in elevation between drill holes will have little effect on
			mineralisation widths on initial interpretation. All new holes and some available historic holes have been
			surveyed by DGPS as well as a surveyed topographical surface for compilation of MRE’s. The
			topographic surface has been generated by using the hole collar surveys. It is considered to be of
			sufficientqualityto be valid for this stage of exploration.
Data spacing	Data spacing for reporting of Exploration Results.	•	Holes were variably spaced in accordance with the collar details/coordinates supplied in Tables 1 & 2.
and distribution	Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.	•	The hole spacing was determined by the Company to be sufficient when combined with confirmed historic drilling results to explore effectively. The sample spacing and the appropriateness of each hole to be included to make up data points for a Mineral Resource has not been determined. It will depend on results from all the drilling and geological interpretations when complete.
	Whether sample compositing has been applied.
Orientation of	Whether the orientation of sampling achieves unbiased	•	No, drilling angle or vertical holes is deemed to be appropriate to intersect the supergene mineralisation
data in	sampling of possible structures and the extent to which this is		and potential residual dipping structures and is appropriate for the current stage of the prospects. At
relation to	known, considering the deposit type.		depth angle holes have been used to intersect the interpreted dipping lodes. True widths are often
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.	• •	calculated depending upon the geometry. The relationship between the drilling orientation and the orientation of mineralised structures is not considered to have introduced a sampling bias. Given the style of mineralisation and drill spacing/method, it is the most common routine for delineating shallow gold resources in Australia. Angle holes are the most appropriate for exploration style and Resource style drilling for the type and
			locationof mineralisation intersected.
Sample	The measures taken to ensure sample security.	•	Samples were collected on site under supervision of the responsible geologist. The work site is on a
security			pastoral station. Once collected samples were wrapped and transported to Perth for analysis. Dispatch
			and consignment notes were delivered and checked for discrepancies.
		•	Sample security for historical samples was highly variable and dependent on the exploration company
			however most of the companies working in the area are considered leaders in improving the sample
			security, QAQC procedures and explorationprocedures.
Audits or	The results of any audits or reviews of sampling techniques and	•	No Audits have been commissioned.
reviews	data.

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Section 2 Reporting of Exploration Results

Criteria		JORC Code explanation	Commentary	Commentary
Mineral		Type, reference name/number, location and ownership	•	The new drilling was conducted on the following tenements;
tenement and		including agreements or material issues with third parties such		Gordons Project – M27/502, P27/2214, P27/2338, P27/2339 and E27/601.
land	tenure	as joint ventures, partnerships, overriding royalties, native title		The tenements are 100% owned by the Company. The tenements are in good standing and no known
status		interests, historical sites, wilderness or national park and		impediments exist.
		environmental settings.
		The security of the tenure held at the time of reporting along with
		any known impediments to obtaining a licence to operate in the
		area.
Exploration		Acknowledgment and appraisal of exploration by other parties.	•	Previous workers in the area include among others, North Ltd, Delta Gold Ltd, Aurion Gold Ltd, Placer
done by other				Dome Asia Pacific, Barminco Investments, Mt Kersey Mining NL, Gutnick Resources NL, Pacific Arc
parties				Exploration, Geopeko, Flinders Resources Ltd, Kesli Chemicals Pty Ltd and Windsor Resources NL.
Geology		Deposit type, geological setting and style of mineralisation.	•	Archaean Orogenic Gold mineralisation hosted within the Boorara domain of the Kalgoorlie Terrane
				within the Norseman-Wiluna Archaean greenstone belt. The granite-greenstone belt is approximately
				600 km long and is characterised by very thick, possibly rift controlled accumulations of ultramafic, mafic
				and felsic volcanics, intrusive and sedimentary rocks. It is one of the granite / greenstone terrains of the
				YilgarnCratonof WA.
Drill hole		A summary of all information material to the understanding of	•	See Tables 1 & 2.
Information		the exploration results including a tabulation of the following	•	All holes reported from the current program are listed in Tables 1 and 2 or can be viewed in Yandal’s
		information for all Material drill holes:		other ASX releases during 2019-2021.
		• easting and northing of the drill hole collar • elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar • dip and azimuth of the hole • down hole length and interception depth	• •	Other hole collars in the immediate area of the Gordons Dam prospect have been included for diagrammatic purposes and Mr Saul considers listing all of the drilling details is prohibitive and would not improve transparency or materiality of the report. Plan view diagrams are shown in the report of all drilling collars in close proximity to the new drilling for exploration context in Figures 1 - 4. No information is excluded.
		• 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	•	No weighting or averaging calculations were made, assays reported and compiled are as tabulated in
aggregation		techniques, maximum and/or minimum grade truncations (e.g.		Tables 1 & 2.
methods		cutting of high grades) and cut-off grades are usually Material	•	All assay intervals reported in Tables 1 & 2 are typically 1m downhole intervals above 0.10g/t Au lower
		and should be stated.		cut-off for RC/DD drilling (interval width as indicated for DD drilling). For AC drilling the interval is
		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	•	composited downhole interval as indicated above a 30ppb Au lower cut-off. There is occasionally small samples such as 1m or 2m when the hole was completed to depth that was not a multiple of 4 for AC drilling. No metal equivalent calculations were applied.
		in detail.
		The assumptions used for any reporting of metal equivalent
		values should be clearly stated.

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Criteria	JORC Code explanation	Commentary	Commentary
Relationship	These relationships are particularly important in the reporting of	•	Oxide and Transitional mineralisation is generally flat lying (blanket like) while mineralisation at depth
between	Exploration Results.		is generally steeper dipping. Further orientation studies are required.
mineralisatio n widths and intercept	If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.	•	Drill intercepts and true width appear to be close to each other, or within reason allowing for the minimum intercept width of 1m. Yandal Resources Ltd estimates that the true width is variable but probably around 80-100% of the intercepted widths.
lengths	If it is not known and only the down hole lengths are reported,	•	Given the nature of AC and RC drilling, the minimum width and assay is 1m.
	there should be a clear statement to this effect (e.g. ‘down hole	•	Given the highly variable geology and mineralisation including supergene mineralisation and
	length, true width not known’).		structurally hosted gold mineralisation there is no project wide relationship between the widths and
			interceptlengths.
Diagrams	Appropriate maps and sections (with scales) and tabulations of	•	See Figures 1-4 and Tables 1 & 2.
	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.
Balanced	Where comprehensive reporting of all Exploration Results is not	•	Summary results for all holes as 4m AC assays > 30ppb Au are initially determined, all holes as 1m or
reporting	practicable, representative reporting of both low and high grades		less AC, RC or DD assays > 0.10g/t Au for the current drilling are shown in Tables 1 & 2.
	and/or widths should be practiced to avoid misleading reporting	•	Diagrammatic results are shown in Figures 1-4.
	of Exploration Results.
Other	Other exploration data, if meaningful and material, should be	•	There have been no historical Mineral Resource Estimates.
substantive	reported including (but not limited to): geological observations;	•	There has been no historic mining at the Gordons Dam or Malone prospects as they are new
exploration	geophysical survey results; geochemical survey results; bulk		discoveries.
data	samples – size and method of treatment; metallurgical test
	results; bulk density, groundwater, geotechnical and rock
	characteristics; potential deleterious or contaminating
	substances.
Further work	The nature and scale of planned further work (e.g. tests for	•	Additional exploration including AC, RC and DD drilling and or geophysical surveys to advance known
	lateral extensions or depth extensions or large-scale step-out		prospects is warranted. Additional exploration drilling is likely if new programs can be approved by the
	drilling).		Company.
	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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