MOHO RESOURCES LIMITED — Interim / Quarterly Report 2022

Apr 28, 2022

QUARTERLY REPORT TO 31 MARCH 2022

==> picture [165 x 792] intentionally omitted <==

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

29 April 2022
----- End of picture text -----

Highlights:

Black Swan South Nickel prospect

• Moho’s geophysical consultant has reviewed historical geophysical data on recently granted E27/623 located immediately south of Poseidon Nickel’s Black Swan Nickel Processing Operations

• Re-evaluation of down hole electromagnetic survey (DHEM) diamond drill hole (DDH) 08NBSD0060, drilled by Norilsk in 2008, has identified a possible off-hole EM conductor

• No ground electromagnetic surveys have been conducted on the magnetic anomaly which has been the main focus of historical exploration for nickel

Omrah and Wise Nickel Targets

• Diamond drilling completed at Omrah nickel prospect at Silver Swan North Project

• Targeting EM conductor for ultramafic-hosted massive nickel sulphide mineralisation

• RC drilling completed over Omrah EM target and Wise nickel prospect - 14 holes drilled for 3,060 metres

• Drilling progress hampered by rig failure and repairs

• Samples submitted to Bureau Veritas laboratory for analysis with samples undergoing QAQC checks

• Review of assays and logging of RC chips undertaken by highly experienced and successful nickel consultant Mr Grant Alan “Rocky” Osborne

Tyrells and Hodges Gold Targets

• Single metre split assays of 4 metre composite samples from aircore drilling confirm multiple mineralised gold zones

• Combined strike length of two main mineralised zones at Tyrells prospect extends over about 1.2km

• Best results include:

• 7m @ 1.59g/t Au from 14m (including 2m @ 2.75g/t Au from 16m) in SSA0145

• 5m @ 1.57g/t Au from 49m (including 2m @ 2.20g/t Au from 51m) in SSA0091

• 10m @ 0.98g/t Au from 50m in SSA0146

• 1m @2.47g/t Au from 28m and 2m @ 2.16g/t Au from 38m in SSA101

• 3m @ 1.61g/t Au from 18m (including 1m @ 3.04g/t from 20m) in SSA0016

• MOHO receives $621K (gross) Tax Refund for R&D Spend

Moho Resources Ltd (ASX:MOH) (Moho or Company) is pleased to announce its quarterly results for the period ending 31 March 2022.

Commenting on technical developments during the quarter, Managing Director Mr Shane Sadleir said:

“Moho has made significant advances in our understanding the controls on mineralisation at our key projects as we gear up for exploration success in 2022.

“We are very keen to get on the ground at the Black Swan South prospect which is significantly under-explored, particularly given its proximity to the high grade nickel sulphide mineralisation associated with the nearby Silver Swan and Golden Swan deposits.

“We’re very encouraged by the potential for additional gold mineralisation in the two main zones at Tyrells, north of East Sampson Dam and we’re looking forward to drill testing these areas as a priority in the near future.”

“This R&D tax refund represents a major addition to Moho’s ongoing exploration budget. It also underlines the contribution that R&D makes in the Company’s exploration processes targeting significant mineral discoveries within our highly prospective portfolio of battery and precious metal projects.

Summary of Operations:

During the quarter Moho’s exploration activities were focused on the gold and nickel prospects at the Silver Swan North Project, located about 40km NNE of Kalgoorlie in Western Australia (Figure 1).

==> picture [327 x 396] intentionally omitted <==

Figure 4: Silver Swan North tenements in relation to interpreted regional geology, current nickel exploration targets and Poseidon’s Black Swan Nickel Operation

Black Swan South Nickel Prospect

During the quarter, Moho Resources provided an initial assessment of the nickel exploration potential of the Black Swan South Nickel Prospect based on a review of historical drilling and geophysical data generated by previous explorers. The prospect is situated within recently granted tenement E27/623 which adjoins Poseidon Nickel’s Black Swan Swan Nickel Operations.

The Black Swan South Nickel Prospect is a zone of ultramafic rocks identified from historical drilling, south of the Silver Swan nickel mine. The prospect is associated with a prominent, elliptical shaped magnetic anomaly, approximately 800 m long and bound on its western side by an interpreted major, NW trending structure.

A re-evaluation of the historic down hole electromagnetic survey (DHEM) from diamond drill hole (DDH) 08NBSD0060, by Moho's Geophysical Consultant, has identified a possible, weak off hole conductor from the end of the hole about 100 m to the south (Figure 2).

The anomaly is very subtle and is within the noise level of the data and implies a distant source. If the conductor reflects possible massive nickel sulphide mineralisation, it may sit within an untested portion of the Black Swan South magnetic anomaly, or it might reflect graphite or a sliver of sulphide bound in the interpreted NW shear.

Geophysical modelling of the data highlights an east-dipping conductor as providing the best fit for the DHEM anomaly. Based on the historical drilling, the basal ultramafic/mafic contact is interpreted to dip to the east. Subject to the outcome of the geochemical review of the historical drill hole data currently underway, Moho propose to undertake RC drilling to the south of DDH 08NBSD0060 to test along the trend of the interpreted contact.

The area will be covered as part of a proposed in-loop surface EM survey and sits within in a gap in the historical drilling. Due to a shortage of EM crews, surveying may not occur until June. Moho is actively aiming to secure a rig prior to completion of the surface EM to drill the untested section of the magnetic anomaly and add important new geological information to this developing target. The drill holes will be cased so that they can be used to test for DHEM anomalies.

==> picture [365 x 489] intentionally omitted <==

Figure 2: Image of magnetic intensity showing potential off hole EM conductor site with historic drilling and interpreted structures, Black Swan South Nickel Prospect

Omrah and Wise Nickel Targets

During the quarter the company completed the diamond drilling at the Omrah nickel prospect (Figure 3) and four RC holes at the Wise nickel prospect. The Omrah nickel prospect is host to an untested electromagnetic (EM) conductor which has been confirmed by geophysical interpretation of historic EM surveys.

The diamond drilling was carried out from the bottom of RC hole 21SSC005 (165m) which was drilled in late December 2021. Based on geophysical modelling the diamond hole was expected to intersect the EM conductor plate at a depth of 405m down hole.

The identification of the Omrah and Wise nickel targets followed the review of geological and geophysical data by Moho’s exploration team. The Previous Reverse Circulation (RC) drilling at the Omrah and Wise prospects was completed on 22 January 2022. 14 RC holes were completed for 3,060m (refer to Table 1). Assay results are undergoing final QAQC, pending release.

Moho was awarded a grant of $150,000 under the Exploration Incentive Scheme (EIS) program by the West Australian Government. The EIS grant will cover up to 50% of direct drilling costs associated with the RC and diamond drilling program to test for massive nickel sulphide mineralisation at the Omrah and Wise nickel prospects.

==> picture [311 x 359] intentionally omitted <==

==> picture [62 x 29] intentionally omitted <==

Figure 3: Location of diamond drill hole in relation to surface projection of EM conductor and recently drilled RC holes at Omrah and Wise nickel sulphide prospects (overlain on 0.5vd grey magnetics)

Tyrells and Hodges Gold Targets

During the period the final 1m split assay results were received from the 2021 aircore program at the Tyrells and Hodges gold prospects within the Silver Swan North Project (Figure 4), located 45km from Kalgoorlie-Boulder.

Consultant geochemist Richard Carver of GCXplore Pty Ltd has reviewed and interpreted the assay results in the context of the lithogeochemistry and geology of the prospect areas. The Aircore drilling has located the sources of the historical soil and auger anomalies. The best 4m intervals have been re-assayed at 1m sub samples and there are 22 samples with gold assays over a 1g/t ie 1ppm, including three samples in the 3 - 4g/t range.

Assay results of 1m single metre samples confirm and, in places, upgrade the gold results from the 4m composites from the 2021 aircore drilling program (Figure 1). Table 1 outlines the significant intercepts >0.5g/t Au received. Tables 1 and 2 in Appendix 1 provide drill hole details and gold assay results for the 1m split samples.

==> picture [376 x 501] intentionally omitted <==

Figure 4: Significant intersections (>0.5g/t Au) and maximum gold values from 1m split samples in 2021 aircore drilling at Tyrells and Hodges prospects in relation to East Sampson Dam (overlain on magnetics).

Tyrells Gold Prospect:

At Tyrells there is a clear separation into two zones of drill gold anomalism. This anomalism is best developed on the western side and just to the east of the high magnesium basalt, where there appears to be multiple zones of gold anomalism with apparent dips of about 45 to the east. The southern most traverse also has anomalism in this position.

In the centre of the northern-most traverse the anomalism is weak, although the complexity in the magnetics would suggest a break at about this position. The anomalism on the ultramafic contact area at the eastern end of the traverses is best developed with the source about 100-160m W of the ultramafic contact. The higher arsenic anomalism lies to the east of the drill gold anomalism.

Follow up aircore drilling to test continuity and strike extensions of two main mineralised zones at Tyrells prospect and RC drilling to test extent and grade of gold mineralisation below refusal depth of aircore drilling and supergene blanket following receipt of aircore drilling results

Hodges Gold Prospect:

At Hodges significant gold anomalism occurs on section 66404450N both within a steep east-dipping zone from surface at the ultramafic contact and also in a flat supergene blanket extending about 160m to west of the contact. The anomalism is potentially open towards the next traverse 800m to the south. There is arsenic anomalism on the ultramafic contact but this gold lies to the W of the arsenic high.

Empress Springs Gold Project

No work was undertaken at Empress Springs due to an extended wet season, availability of a suitable drill rig in to drill the target areas, and COVID border closures limiting the company’s ability to get its technical team in and out of Queensland to conduct further exploration.

Corporate

In early January 2022 Moho Resources received $621k (gross) as a refundable tax offset for eligible research and development (R&D) expenditure conducted across its prospective projects at Silver Swan North, and Burracoppin in Western Australia and Empress Springs in Queensland during the 2020-21 financial year. The Company has actively progressed R&D programs in conjunction with CSIRO and external consultants as part of its overall exploration strategy to improve and refine its mineral discovery processes.

The Company has lodged the required reports and documentation to the DMIRS to finalise the EIS grants and as such expects to receive receipts of ~$150,000 as part of the EIS co-funded drilling programs during the June quarter. These EIS grants are related to RC and diamond drilling program conducted at the Wise and Omrah targets within the Silver Swan North project as well as the final instalment of the Burracoppin EIS grant.

The Company also expects to finalise the deal with Yandal Resources in the June quarter which once finalised, will see Yandal pay Moho an amount of $55,000 to complete the transaction.

Financial Commentary – 31 March 2022

The Company’s Quarterly Cashflow Report (Appendix 5B) follows this activities report. The Company had $252k in cash as at 31 March 2022. Exploration Expenditure for the quarter was $497k with most of this expenditure being associated with the drilling activities at the Omrah and Wise prospects and further exploration activities Tyrells and Hodges prospects and initial investigations of the Black Swan South and Manjimup prospects.

The total amount paid to related parties of Moho and their associates, as per item 6.1 of the Appendix 5B, was $82k. Included in this amount is $67k for Directors fees, salaries and superannuation and $15k paid to Deadset Visuals Pty Ltd, a related party of Ralph Winter for graphic, drafting and online design services. The amount paid to related parties of Moho and their associates, as per item 6.2 of the Appendix 5B, was $62k for Directors salaries.

TENEMENT SCHEDULE

In line with obligations under ASX Listing Rule 5.3.3, Moho Resources provides the following information relating to its mining tenement holdings at 31 March 2022.

PROJECT	TENEMENT	AREA **(km2) **	TENURE TYPE	STATUS	GRANT DATE	EXPIRY DATE	INTEREST CHANGE	MOHO INTEREST
SILVER SWAN NORTH (WA)	E27/0528	20.45	EXPLORATION	GRANTED	11/10/2015	11/9/2020	-	100%
	M27/0263	7.93	MINING	GRANTED	7/8/1997	7/7/2039	-	100%
	P27/2232	2	PROSPECTING	GRANTED	3/8/2016	3/7/2020	-	100%
	P27/2390	0.92	PROSPECTING	GRANTED	4/2/2019	3/2/2023	-	100%
	E27/0613	5	EXPLORATION	GRANTED	27/8/2019	23/8/2023	-	100%
	E27/0626	4	EXPLORATION	GRANTED	17/7/2020	16/7/2025	-	100%
	M27/488	0.55	MINING	OPTION	14/7/2015	13/7/2036	-	0%
	P27/2229	1.98	PROSPECTING	OPTION	30/11/2015	29/11/2023	-	0%
	P27/2200	1.94	PROSPECTING	OPTION	23/2/2015	22/2/2023	-	0%
	P27/2226	1.85	PROSPECTING	OPTION	16/11/2015	15/11/2023	-	0%
	P27/2216-8	0.28	PROSPECTING	OPTION	15/10/2015	14/10/2023	-	0%
	E27/0623	14	EXPLORATION	GRANTED	14/12/2021	13/12/2026	-	100%
	E63/2162	7	EXPLORATION	GRANTED	21/12/2021	20/12/2026	-	100%
	E63/2163	75	EXPLORATION	GRANTED	21/12/2021	20/12/2026	-	100%
	E27/633	7	EXPLORATION	GRANTED	29/03/2022	28/3/2027	100%	100%
	P27/2456	196	PROSPECTING	GRANTED	4/4/2022	4/3/2026	100%	100%
WHISTLEPIPE (WA)	E70/5762	29	EXPLORATION	GRANTED	26/7/2021	25/7/2026	100%	100%
	E70/5945	40	EXPLORATION	GRANTED	20/1/2021	19/1/2027	100%	100%
	E70/5946	132	EXPLORATION	GRANTED	20/1/2021	19/1/2027	100%	100%
	E70/5947	299	EXPLORATION	GRANTED	20/1/2021	19/1/2027	100%	100%
	E70/6008	110	EXPLORATION	GRANTED	4/3/2022	3/3/2027	100%	100%
	E74/0695	389	EXPLORATION	GRANTED	6/1/2022	5/1/2027	100%	100%
BURRACOPPIN (WA)	E70/4688	123.15	EXPLORATION	GRANTED	6/11/2015	11/5/2020	-	70%
	E70/5154	161.19	EXPLORATION	GRANTED	23/11/2018	11/22/2023	-	100%
	E70/5301	1	EXPLORATION	GRANTED	25/03/2020	24/03/2025	-	100%
	E70/5302	1	EXPLORATION	GRANTED	25/03/2020	24/03/2025	-	100%
	E70/5300	26	EXPLORATION	GRANTED	15/7/2020	14/7/2025	-	100%
	E70/5739	66	EXPLORATION	GRANTED	28/05/2021	27/05/2026	-	100%
	E70/5299	37	EXPLORATION	GRANTED	7/7/2021	6/7/2026	-	100%
	E77/2671	39	EXPLORATION	GRANTED	9/7/2021	8/7/2026	-	100%
EMPRESS SPRINGS (QLD)	EPM25208	281	EXPLORATION	GRANTED	8/4/2014	7/4/2024	-	70%
	EPM25209	291	EXPLORATION	GRANTED	8/4/2014	7/4/2024	-	70%
	EPM25210	200	EXPLORATION	GRANTED	8/4/2014	7/4/2024	-	70%
	EPM27193	48.9	EXPLORATION	GRANTED	3/12/2019	2/12/2024	-	100%
	EPM27199	325.1	EXPLORATION	GRANTED	3/12/2019	2/12/2024	-	100%
	EPM27200	6.5	EXPLORATION	GRANTED	3/12/2019	2/12/2024	-	100%
	EPM27194	276	EXPLORATION	GRANTED	21/01/2020	20/01/2025	-	100%
	EPM27195	236	EXPLORATION	GRANTED	21/01/2020	20/01/2025	-	100%
	EPM27196	275	EXPLORATION	GRANTED	21/01/2020	20/01/2025	-	100%
	EPM27197	272	EXPLORATION	GRANTED	21/01/2020	20/01/2025	-	100%
	EPM27198	172	EXPLORATION	GRANTED	21/01/2020	20/01/2025	-	100%

PREVIOUS ASX RELESASES BY MOHO REFERENCED IN THE REPORT

• Black Swan South Nickel Prospect Exploration Update – (31 Mar 2022)

• 121 Investor Presentation - (22 Mar 2022)

• Diamond Drilling Commenced at Omrah Nickel Target – (14 Mar 2022)

• Silver Swan North Nickel Sulphide Drilling Update – (23 Feb 2022)

• RIU Explorers Conference Presentation – (17 Feb 2022)

• Moho Receives $621k Tax Refund for R&D Spend – (13 Jan 2022)

COMPETENT PERSONS STATEMENT

The information in this announcement that relates to Exploration Results, geology and data compilation of the Tyrells and Hodges gold prospects is based on information and supporting documentation compiled by Mr Richard Carver, a Competent Person who is a Member of the Australian Institute of Geoscientists. Mr Carver is a consultant to the Company and holds shares in the Company.

Mr Carver has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which she 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 Carver 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 Geophysical Interpretation of the Black Swan nickel prospect is based on information and supporting documentation compiled by Mr Kim Frankcombe, and Exploration Results is based on information and supporting documentation compiled by Mr Max Nind, both of whom are Competent Person’s and Members of the Australian Institute of Geoscientists (MAIG). Messrs. Frankcombe and Nind are consultants to Moho Resources Limited, with Mr Frankcombe also holding shares in the Company.

Messrs. Frankcombe and Nind have sufficient experience relevant to the style of mineralisation under consideration and to the activity which is being undertaking to qualify as Competent Person’s as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Frankcombe and Mr Nind consent to the inclusion in this announcement of the matters based on this information in the form and context in which it appears.

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

==> picture [612 x 69] intentionally omitted <==

About Moho Resources Ltd

==> picture [312 x 257] intentionally omitted <==

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.

Moho’s Senior Exploration Geologist Nic d’Offay 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.

Rule 5.5

Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

Name of entity

Moho Resources Limited ABN Quarter ended (“current quarter”) 81 156 217 971 31 March 2022

Consolidated statement of cash flows	Current quarter $A’000	Year to date (9 months) $A’000
1. Cash flows from operating activities 1.1 Receipts from customers 1.2 Payments for (a) exploration & evaluation (b) development (c) production (d) staff costs (e) administration and corporate costs 1.3 Dividends received (see note 3) 1.4 Interest received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Government grants and tax incentives 1.8 Other (provide details if material) 1.9 Net cash from / (used in) operating activities	- - - - (137) (170) - - (1) - - -	- - - - (309) (478) - - (2) - - -
	(308)	(789)
2. Cash flows from investing activities 2.1 Payments to acquire or for: (a) entities (b) tenements (c) property, plant and equipment (d) exploration & evaluation (e) investments (f) other non-current assets	- - 1 (497) - -	- - (30) (1,721) - -

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

Page 1

Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

Consolidated statement of cash flows	Current quarter $A’000	Year to date (9 months) $A’000
2.2 Proceeds from the disposal of: (a) entities (b) tenements (c) property, plant and equipment (d) investments (e) other non-current assets 2.3 Cash flows from loans to other entities 2.4 Dividends received (see note 3) 2.5 Other (provide details if material) - R&D Refund (net of costs) 2.6 Net cash from / (used in) investing activities	- - - - - - - - 527	- - - - - - - - 527
	31	(1,224)
3. Cash flows from financing activities 3.1 Proceeds from issues of equity securities (excluding convertible debt securities) 3.2 Proceeds from issue of convertible debt securities 3.3 Proceeds from exercise of options 3.4 Transaction costs related to issues of equity securities or convertible debt securities 3.5 Proceeds from borrowings 3.6 Repayment of borrowings 3.7 Transaction costs related to loans and borrowings 3.8 Dividends paid 3.9 Other – lease payments 3.10 Net cash from / (used in) financing activities	160 - - (7) - - - - (33)	1,510 - - (83) - - - - (63)
	120	1,364
4. Net increase / (decrease) in cash and cash equivalents for the period
4.1 Cash and cash equivalents at beginning of period 4.2 Net cash from / (used in) operating activities (item 1.9 above) 4.3 Net cash from / (used in) investing activities (item 2.6 above) 4.4 Net cash from / (used in) financing activities (item 3.10 above)	409 (308) 31 120	901 (789) (1,224) 1,364

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

Page 2

Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

Consolidated statement of cash flows	Current quarter $A’000	Year to date (9 months) $A’000
4.5 Effect of movement in exchange rates on cash held 4.6 Cash and cash equivalents at end of period	-	-
	252	252
5. Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts	Current quarter $A’000	Previous quarter $A’000
5.1 Bank balances 5.2 Call deposits 5.3 Bank overdrafts 5.4 Other (provide details) 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above)	252 - - -	409 - - -
	252	409
6. Payments to related parties of the entity and their associates		Current quarter $A'000
6.1 Aggregate amount of payments to related parties and their associates included in item 1 82 6.2 Aggregate amount of payments to related parties and their associates included in item 2 62 Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments.		82
		62

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

Page 3

Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

7. 7.1 7.2 7.3 7.4 7.5 7.6	Financing facilities Note: the term “facility’ includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. Total facility amount at quarter end $A’000 Amount drawn at quarter end $A’000 Loan facilities - - Credit standby arrangements - - Other (please specify) - - Total financing facilities - - Unused financing facilities available at quarter end - Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well.	Total facility amount at quarter end $A’000	Amount drawn at quarter end $A’000
		-	-
		-	-
		-	-
		-	-
8.	Estimated cash available for future operating activities		$A’000
8.1 8.2 8.3 8.4 8.5 8.6 8.7 8.8	Net cash from / (used in) operating activities (item 1.9) (308) (Payments for exploration & evaluation classified as investing activities) (item 2.1(d)) (497) Total relevant outgoings (item 8.1 + item 8.2) (805) Cash and cash equivalents at quarter end (item 4.6) 252 Unused finance facilities available at quarter end (item 7.5) - Total available funding (item 8.4 + item 8.5) 252 Estimated quarters of funding available (item 8.6 divided by item 8.3) 0.3 Note: if the entity has reported positive relevant outgoings (ie a net cash inflow) in item 8.3, answer item 8.7 as “N/A”. Otherwise, a figure for the estimated quarters of funding available must be included in item 8.7. If item 8.7 is less than 2 quarters, please provide answers to the following questions: 8.8.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not?		(308) (497) (805) 252 -
			252
			0.3
	Answer: Yes.
	8.8.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful?
	Answer: Yes, the Company is considering its options for raising funds through an equity issue and expects to be successful based on previous capital raises. The Company also expects to receive receipts of ~$150,000 as part of the EIS co-funded drilling program during the June quarter. The Company also expects to finalise the deal with Yandal Resources in the June quarter which once finalised will see Yandal pay Moho an amount of $55,000 to complete the transaction.

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

Page 4

Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

8.8.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis?

Answer: Yes, for the reasons noted in 8.8.2 above.

Note: where item 8.7 is less than 2 quarters, all of questions 8.8.1, 8.8.2 and 8.8.3 above must be answered.

Compliance statement

• 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.

• 2 This statement gives a true and fair view of the matters disclosed.

Date: 29 April 2022

Authorised by: By the Board

(Name of body or officer authorising release – see note 4)

Notes

1. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity’s activities for the past quarter, how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so.

2. If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report.

3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.

4. If this report has been authorised for release to the market by your board of directors, you can insert here: “By the board”. If it has been authorised for release to the market by a committee of your board of directors, you can insert here: “By the [ name of board committee – eg Audit and Risk Committee ]”. If it has been authorised for release to the market by a disclosure committee, you can insert here: “By the Disclosure Committee”.

5. If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations , the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively.

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

Page 5