MOHO RESOURCES LIMITED — Capital/Financing Update 2021

Nov 1, 2021

MOHO SECURES WHISTLEPIPE PROJECT AREAS

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2 November 2021
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• Applications lodged for exploration licences over areas identified by Whistlepipe geoscientists as prospective for nickel and associated battery and precious metals

• Ni-Cu-PGE prospectivity of application areas confirmed using Geoscience Australia’s Mineral Potential Mapper program

• Review underway of granted exploration licence at Manjimup to enable exploration activities to commence as soon as practicable

“Moho is looking forward to commencing exploration for nickel and associated battery and precious metals within the granted licence near Manjimup and the application areas once granted. The proximity of the areas targeted by Whistlepipe within or close to zones of moderate Ni-Cu-PGE prospectivity generated using Geoscience Australia’s mineral Potential Mapper data provides independent support for their mineral potential. It is also no surprise, given the discovery record of the Whistlepipe principals and their close involvement with the discovery of the Gonneville PGE-Ni-Cu-Co-Au deposit at Julimar”

Shane Sadleir, Moho Managing Director

On 25 October 2021 Moho Resources Ltd (Moho or the Company) announced that it had entered into agreements with Whistlepipe Exploration Pty Ltd (Whistlepipe) to acquire a granted exploration licence and certain technical information relating to six Project areas in Western Australia which Moho intends to evaluate with a view to securing tenure[1] .

Moho is pleased to announce that it has lodged applications with the Department of Mines Industry Regulation and Safety (DMIRS) for 11 exploration licences over the six Project areas associated with an agreement with Whistlepipe .

1 ASX announcement by Moho Resources Ltd, 25 October 2021: “Moho Expands Nickel and Gold Search in WA”

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The granted Whistlepipe tenement and Moho’s exploration licence applications over the project areas identified by Whistlepipe are located in sparsely and under-explored ground within the prospective western and southwestern margins of the Yilgarn craton and the Albany-Fraser orogen of Western Australia (refer to Figure 1 and Table 1). Table 1 also provides details of three licence applications lodged by the Company recently over areas that are considered prospective for nickel.

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Figure 1: Location of Moho’s Project areas in Western Australia in relation to Ni-Cu-PGE prospectivity

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Table 1: Tenement details for Moho’s recently acquired nickel and battery metals projects (Whistlepipe areas shaded)

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Application Minimum
Project Tenement ID Blocks Grant Date Expiry Date Holder
Date Expenditure
Chorkerup Farm E70/5947 136 22/10/2021 pending Moho $ 136,000
Harris - Dwellingup E70/5943 62
E70/5944 22/10/2021 pending Moho $ 89,000
E70/5948
Manjimup E70/5762 13 8/04/2021 26/07/2021 25/07/2026 Whistlepipe Pty Ltd $ 20,000
Peak Charles E63/2162 305
E63/2163
22/10/2021 pending Moho $ 315,000
E74/694
E74/695
Stirling Range North E70/5945 18 22/10/2021 pending Moho $ 20,000
Tambellup E70/5946 60 22/10/2021 pending Moho $ 60,000
Weld Range North E20/1012 6 22/10/2021 pending Moho $ 15,000
Alexander West E77/2867 20 2/09/2021 pending Moho $ 20,000
Coglia E39/2280 10 11/08/2021 pending Moho $ 20,000
Fairwater E63/2140 19 2/09/2021 pending Moho $ 20,000
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Based on information provided by Whistlepipe, Moho understands the granted tenement and project areas under the Acquisition Agreement may be prospective for nickel and associated battery and precious metals. They were identified using similar concepts and targeting parameters that led to the discovery of the exceptional Gonneville PGE-Ni-Cu-Co-Au mineralisation within the Julimar mafic-ultramafic intrusive complex located on the western margin of the Yilgarn craton. Table 2 shows additional information used by Whistlepipe to target the Project areas which are now under applications by Moho

Moho is currently undertaking due diligence on the Project Information to enable Completion of the transaction. The Company is expediting assessment of the Mining Information relating to the granted tenement at Manjimup (E70/5762) to allow exploration activities to commence as soon as practicable.

Ni-Cu-PGE Prospectivity Index

Figure 1 shows the location of Moho’s granted and applied for tenements in relation to a Ni-Cu-PGE prospectivity index developed by Geoscience Australia. The Mineral Potential Mapper is a computerbased system developed to map Australia’s potential for new Ni-Cu-PGE mineral resources. The system is a continental scale application designed to assist the mineral exploration industry to target new resources.

The heat map underlay depicted shows standard inputs determined by Geoscience Australia’s preferred values (Dulfer, et al., 2016)

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Table 2: Information used by Whistlepipe to target the Project areas which are now under applications by Moho.

Project	Mineralisat ion targeted	Deposit analogue		Targeting information	Targeting information
			Magnetics	Gravity	Structure
Stirling Range North	Ni-Cu-PGE	Nova	Area of lesser magnetic response within magnetic dykes	Bullseye gravity feature possibly representing intrusion	-
Weld Range North	Ni-Cu-PGE		Bullseye magnetic feature likely representing intrusion	Bullseye gravity feature likely representing intrusion	-
Manjimup	Ni-Cu-PGE	Nova	Magnetically low (non- serpentinised) mafics	Strong gravity anomaly proximal to craton margin	Structurally complex; located proximal to major NW transcrustal breaks intersectingcraton margin
Peak Charles	Ni-Cu-PGE, Au, Li	Emily Anne, Maggie Hays, Nova, Tropicana	Coherent and large cluster of discrete magnetic anomalies (recrystalised GB?) wrapping around magnetic lows (granite domes)	Large tabular gravity ridge (weak to moderate response); felsic to intermediate composition.	Structurally complex Yilgarn / AFO crustal boundary i e northern foreland, traversed by localised thrusts and intersection with orthogonal rift (Lake Johnston Greenstone Belt Greenstone belt southern extension)
Tambellup	Ni-Cu-PGE	Nova	Absent for Narrogin (SW Yilgarn recryst.), thin magnetic highs for Kalgarrin	Coherent contiguous, thin to moderate width, gravity highs	Eye like feature. Domed sediments intruded by mafic intrusives at craton margin
Chorkerup Farm	Ni-Cu-PGE	Nova	Various magnetically low, highly folded features; several “eye” like dome features	Significant gravity ridge	Structurally complex positioned at terrane boundary and intersection of several transcrustal faults. At local scale, presence of doming and associated folding
Harris, Dwellingup	Ni-Cu-PGE	Gonneville	Various magnetic lows and moderate highs; discrete anomalies	Isolated gravity highs interpreted to be mafic intrusives	Structurally complex; located proximal to major NW transcrustal breaks intersecting craton margin

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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 geologist Lyndal Money (Technical Manager) is supported by leading industry consultant geophysicist Kim Frankcombe (ExploreGeo Pty Ltd) and experienced consultant geochemists Richard Carver (GCXplore Pty Ltd). Dr Jon Hronsky (OA) provides high level strategic and technical advice to Moho.

ENDS

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

For further information please contact:

Media Relations Shane Sadleir, Managing Director Ralph Winter, Commercial Director David Tasker T: +61 411 704 498 T: +61 435 336 538 Chapter One Advisors E: shane@mohoresources.com.au E: ralph@mohoresources.com.au T: +61 433 112 936 E:dtasker@chapteroneadvisors.com.au