NEOMETALS LTD - Regulatory Filings 2021

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29 June 2021
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MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

HIGHLIGHTS

Re‐interpreted and Re‐estimated McEwen and McEwen Hangingwall Mineral Resources – now 3.049 million tonnes at a grade of 1.4% nickel for 41,500 contained nickel tonnes, a 45% increase in contained nickel;
Global Mineral Resource at the Mt Edwards Project now 9.64 million tonnes at 1.7% nickel for 160,000 contained nickel tonnes; and
Revised Zabel Mineral Resource now 325,000 tonnes at 2.0% nickel for 6,360 tonnes of contained nickel, a reduction in contained nickel of 7%.

Neometals Ltd ( ASX: NMT ) ( “Neometals” or “the Company” ) is pleased to announce updated Mineral Resource estimates for the McEwen ( “McEwen” ) and McEwen Hangingwall ( “McEwen HW” ) deposits. Both the McEwen and McEwen HW deposits are significant sized disseminated nickel sulphide deposits. They are two of eleven Mineral Resources at Neometals’ Mt Edwards Project located in a province of historic nickel sulphide mines surrounding the township of Widgiemooltha. The reinterpreted Mineral Resource estimates for McEwen and McEwen HW have increased the tonnes and grade of both deposits, with a combined total of contained nickel now at 41,450 tonnes up from 28,220 tonnes.

Table 1 – McEwen and McEwen Hangingwall Inferred Mineral Resource estimates at various nickel cut‐off grades

Mineral Resource	Cut‐off Ni%	Tonnes	Ni %	Ni tonnes
McEwen	1	1,133,000	1.4	15,300
	1.5	198,000	2.1	4,100
	2	74,000	2.8	2,000

McEwen Hangingwall	1	1,916,000	1.4	26,100
	1.5	442,700	1.9	8,400
	2	104,000	2.6	2,700

Combined McEwen and McEwen Hangingwall	1	3,049,200	1.4	41,500
	1.5	640,200	2	12,500
	2	178,100	2.7	4,800

Small discrepancies may occur due to rounding

In researching historical data for McEwen and McEwen HW further information on the Zabel Mineral Resource, last estimated in December 2020, was discovered. The data related to the interpretation of oxide and transitional zones at Zabel, and the revised estimate now only includes nickel sulphide in fresh rock. This information has been used to update the Zabel Mineral Resource, with the revised estimate now 325,000 tonnes at 2.0% nickel for 6,360 tonnes of contained nickel. All other information related to the Zabel Mineral Resource estimate remain the same as that announced on 23 December 2020 (for further details see Neometals announcement titled “Mt Edwards Nickel ‐ Zabel Mineral Resource Update” dated 23rd December 2020).

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29 June 2021 – MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

Table 2 – Zabel Indicated and Inferred Mineral Resource Estimate, Updated from December 2020

Mineral Resource Classification	Cut‐off Ni%	Tonnes	Ni %	Ni tonnes
Indicated	1	272,000	1.9	5,280

Inferred	1	53,000	2.0	1,080
TOTAL	1	325,000	2.0	6,360

The re‐estimation of the McEwen and McEwen Hangingwall Mineral Resources is a continuation of a major review of the Mt Edwards project that has been undertaken by Neometals since mid‐2019. The McEwen, McEwen Hangingwall and Zabel Mineral Resources were estimated by Richard Maddocks from Auralia Mining Consultants and reviewed by Snowden Mining Industry Consultants.

A future work program is planned for McEwen and McEwen HW that will include reverse circulation drilling (“ RC ”) and diamond core drilling ( “DD” ) to further assess the extents of mineralisation and improve the understanding of the metallurgical characteristics to pave the way for mining studies.

Background

Neometals acquired the Mt Edwards project in the first half of 2018 and immediately began exploring for nickel and lithium. The Company is targeting new discoveries at Mt Edwards while reviewing and enhancing existing nickel Mineral Resources. The Company owns, or holds nickel rights to, 36 mining tenements with a large land holding of more than 300km[2] across the Widgiemooltha Dome, a well‐recognised nickel sulphide mining province.

Updating of the Mineral Resource estimate at the McEwen and McEwen HW deposits has expanded the global Mt Edwards Project Mineral Resources to 9.64 million tonnes at 1.7% nickel for 160,000 tonnes of contained nickel across 11 deposits.

Table 3 – A revised McEwen and McEwen Hangingwall deposit brings the Mt Edwards Project Nickel Mineral Resources total to 160,000 contained nickel tonnes

	Indicated	Indicated	Inferred	Inferred	TOTAL Mineral Resources	TOTAL Mineral Resources	TOTAL Mineral Resources
Deposit	Tonne (kt)	Nickel (%)	Tonne (kt)	Nickel (%)	Tonne (kt)	Nickel (%)	Nickel Tonnes
Widgie 32			625	1.5	625	1.5	9,160
Gillett5			1,306	1.7	1,306	1.7	22,500
Widgie Townsite2	2,193	1.9			2,193	1.9	40,720
Munda3			320	2.2	320	2.2	7,140
Mt Edwards 26N2			575	1.4	575	1.4	8,210
132N6	34	2.9	426	1.9	460	2	9,050
Cooke1			150	1.3	150	1.3	1,950
Armstrong4	526	2.1	107	2.0	633	2.1	13,200
McEwen			1,133	1.4	1,133	1.4	15,340
McEwen Hangingwall			1,916	1.4	1,916	1.4	26,110
Zabel7	272	1.9	53	2.0	325	2	6,360
TOTAL	3,049	1.9	5,694	1.6	9,636	1.7	160,000

Mineral Resources quoted using a 1% Ni block cut‐off grade, except Munda at 1.5% Ni. Small discrepancies may occur due to rounding Note 1. refer announcement on the ASX: NMT 19 April 2018 titled Mt Edwards Nickel ‐ Mineral Resource Estimate Note 2. refer announcement on the ASX: NMT 25 June 2018 titled Mt Edwards Project Mineral Resource Over 120,000 Nickel Tonnes Note 3. refer announcement on the ASX: NMT 13 November 2019 titled Additional Nickel Mineral Resource at Mt Edwards

Note 4. refer announcement on the ASX: NMT 16 April 2020 titled Mt Edwards Nickel ‐ Armstrong Resource increases 60%

Note 5. refer announcement on the ASX: NMT 26 May 2020 titled Mt Edwards Nickel ‐ Gillett Resource increases 30%

Note 6. refer announcement on the ASX: NMT 6 October 2020 titled Mt Edwards Nickel ‐ Mineral Resource and Exploration Update Note 7. updated from previous announcement on the ASX: NMT 23 December 2020 Mt Edwards Nickel ‐ Zabel Mineral Resource Update

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29 June 2021 – MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

Mineral Resource Estimation

The McEwen, McEwen Hangingwall and Zabel Mineral Resources were estimated by Richard Maddocks from Auralia Mining Consultants. The Mineral Resource estimates for the McEwen Deposit of 1,133,000 tonnes at 1.4% nickel for 15,300 nickel tonnes, the McEwen Hangingwall Deposit of 1,916,000 tonnes at 1.4% nickel for 26,100 nickel tonnes, and for the Zabel Deposit of 325,000 tonnes at 2.0% nickel for 6,360 nickel tonnes are reported in accordance with the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’ prepared by the Joint Ore Reserves Committee of The Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists and Minerals Council of Australia (JORC Code) and follows a detailed interrogation and review of the available data, including the earlier reported Mineral Resource estimates by the previous holders of the tenement.

A summary of information relevant to the McEwen and McEwen Hangingwall Mineral Resource estimates at the Mt Edwards Project is provided in these appendices attached to this announcement:

Appendix 1. Table 1 as per the JORC Code Guidelines (2012)

Appendix 2. Drill holes used in the McEwen and McEwen Hangingwall Mineral Resource estimate Appendix 3. Significant and Mineralised Nickel Drill Intersections at McEwen and McEwen Hangingwall

Location

The McEwen and McEwen HW nickel deposits are located on mining lease M15/653, approximately 11km north‐east of the Widgiemooltha Roadhouse (50km from Kambalda). Access from the Coolgardie to Esperance Highway is via well‐established roads used for previous mining and exploration in the area. There has been no mining in the immediate vicinity of the McEwen and McEwen HW Mineral Resources, and geological knowledge has been sought by drill sample logging and surface mapping combined with interpretations of surface and down‐hole geophysical surveys. The McEwen and McEwen HW Mineral Resources are located 350 metres south of the Zabel Mineral Resource, with these three deposits located at the northern end of a line of eleven nickel deposits at the Mt Edwards Project.

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Figure 1 ‐ Mt Edwards Project tenure over geology.

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29 June 2021 – MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

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Figure 2 ‐ Mt Edwards Project tenure over geology, showing the locations of the McEwen and McEwen HW Mineral Resources on Mining Lease M15/653, and the Zabel Mineral Resource on Mining Lease M15/97. Neometals holds 100% nickel rights for all live tenements shown above.

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29 June 2021 – MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

Geology and Geological Interpretation

Nickel sulphide mineralisation in the region is predominantly associated with the basal contact of the komatiitic ultramafic with the underlying Mt Edwards Basalt. The mineralisation is found within embayments in the komatiite‐ basalt contact interpreted to be thermal erosion channels caused by the flow of hot ultramafic lava. Secondary and tertiary flows of nickel enriched lava flows occur in places, leading to stacking of komatiite ultramafic sequences, such as that seen at McEwen Hangingwall. Sheet flow facies zones flanking and gradational to channel facies are thinner, texturally and chemically well‐ differentiated and less magnesian than channel flow facies.

The McEwen and McEwen Hangingwall deposits are two discrete Mineral Resources approximately 250 metres apart and they are closely associated with the Zabel deposit 350 metres to the north. Figure 3 shows the relative location and geology surrounding these deposits, with Zabel to the north in red, McEwen Hangingwall in green central, and McEwen in yellow at the southern end.

The McEwen deposit (the southern of the three discussed) consists of two parts; the McEwen West and McEwen East. Each part has a zones of nickel mineralisation on and near the UM basal contact, on opposing limbs of the Mt Edwards Anticline, with thin nickel mineralisation

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Figure 3 – Plan of geology and mining tenements around the Mineral Resource outlines of McEwen, McEwen Hangingwall and Zabel over geology.

continuing over the hinge of the fold. Figure 4 shows a cross section of the McEwen mineralisation domains over the anticline.

The east part of McEwen is one of a few areas of identified mineralisation on the eastern side of the Mt Edwards anticline at the Mt Edwards Project, with the Cooke deposit five kilometres south‐south‐east the nearest eastern limb deposit. Mineralisation at McEwen East consists of a thick > 0.2% nickel zone, usually directly on the mafic contact, with locally up to three internal >1% nickel zones. Rare, thin, basal contact massive sulphides occur.

The west part of McEwen contains both disseminated hanging wall mineralisation and basal contact matrix to massive mineralisation. The southern portion of this western limb at McEwen is dominated by serpentinite which grades into talc carbonate assemblages to the north.

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29 June 2021 – MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

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Figure 4 – Plan of geology and mining tenements around the McEwen Mineral Resource, which sits on the Mt Edwards anticline. Assay results from drilling are coloured bands on the drill traces.

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Figure 5 – Cross Section of the McEwen Mineral Resource geology with nickel drill traces coloured in accordance with nickel grades. There are four mineralised domains modelled at McEwen, three on the western limb and one on the eastern limb.

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29 June 2021 – MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

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Figures 6 & 7 ‐ Long Sections of the west and east parts of the McEwen Mineral Resource, with significant intercepts .

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29 June 2021 – MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

The McEwen Hangingwall deposit is 250 metres to the north of the western part of McEwen. While most of the mineralisation for Zabel and McEwen is on or near the ultramafic‐basalt contact, at McEwen Hangingwall the disseminated nickel sulphide mineralisation is higher in the ultramafic sequence contained within the western, hanging wall limb of the anticline.

At McEwen Hangingwall, mineralisation is typically contained within a 30‐metre thick zone with disseminated nickel greater than 0.2% located some 20m to 80m above the basal contact. A few massive sulphide zones are present at the base of this zone, however the majority of the mineralisation is disseminated. There is little nickel enrichment at the basal mafic contact at McEwen Hangingwall other than at the far southern and northern zones.

A 3D block diagram in Figure 11 illustrates the relationship of the McEwen, McEwen HW and Zabel deposits with the Armstrong to the south relative to the folded geology of the Mt Edwards Anticline.

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Figure 8 – Plan of geology at McEwen Hangingwall on the west limb of the Mt Edwards anticline. Assay results from drilling are coloured bands on the drill traces.

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Figure 9 – Cross section of McEwen Hangingwall. Mineralisation is typically contained within a 30‐metre thick zone located some 20m to 80m above the basal contact in the hanging wall of the western fold limb.

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29 June 2021 – MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

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Nickel Mineralisation

The mineralisation styles range from weakly disseminated to matrix and occasional massive sulphide mineralisation. Most of the mineralisation is disseminated.

Generally, the disseminated sulphide runs between 0.6 and 2% nickel with the matrix style mineralisation grading up to 3% nickel.

Modelling

The mineralisation of McEwen and McEwen HW conforms to a Kambalda style komatiite flow hosted deposit, with post depositional structural modification. Geology logs were used to construct a basal surface to the ultramafic unit.

Figure 10 – A long section of McEwen Hangingwall deposit with significant drill intercepts.

Mineralised domains were modelled based on elevated nickel grades, and proximity to the basal surface at the mafic/ultramafic contact. The basal surface was particularly useful at McEwen with the mineralisation following the contact over the fold hinge. For both McEwen and McEwen HW there was no strict protocol in assigning a nickel cut‐off grade to model the shape rather it was based on the interpreted location of elevated nickel within the stratigraphic sequence.

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Figure 11 – A 3D block diagram of the Mt Edwards Anticline showing the locations of Zabel, McEwen and McEwen Hangingwall.

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29 June 2021 – MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

A total of six domains have been modelled; two for McEwen Hangingwall and four for McEwen, as shown in Figure 12. A top of fresh rock and bottom of complete oxidation surfaces were modelled from the logging codes in drill holes.

Mineral Resource Classification

Parts of the McEwen deposit are relatively well drilled providing good continuity of geology and grade. However, the McEwen Hangingwall deposit is based on reasonably wide drilling at 60m collar spacings. In addition, McEwen Hangingwall is made up entirely of historic drilling, the most recent of which was drilled in 1990, with the majority carried out between 1968 and 1971. The comparison between older drilling campaigns and newer ones from QAQC sampling across other deposits at the Mt Edwards Project provides some confidence in the veracity of the older drilling campaigns’ sampling and assaying. However, the wide spaced drilling combined with a lack of supporting data for important elements such as arsenic, Fe₂O₃ and MgO plus the few bulk density measurements means that all of the McEwen and McEwen Hangingwall deposits are classified as Inferred.

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Figure 12 – The six mineralisation domains, four at McEwen and two at McEwen Hangingwall.

Additional infill drilling to reduce the data spacing and provide additional assay data for other elements, and independent bulk density analysis would increase the confidence in the geological interpretation and grade continuity. This could result in a Mineral Resource classification reflecting increased confidence.

Drilling Techniques and Details

The drill database used in the Mineral Resource estimate is comprised of samples from diamond core drilling and RC drilling across several exploration campaigns from 1968 to 2005. INCO carried out drilling on the prospect in 1968‐1971, while WMC conducted drilling campaigns between 1980 and 1991.

The majority of drilling was carried out by INCO in the period 1968‐1971. No details on the drilling and sampling techniques used by INCO and WMC have been found. Titan Resources undertook a significant amount of RC drilling between 2003 and 2005, and 17 diamond holes were drilled at McEwen from which much of the diamond core has been used for high quality logging, and 11 were used for density analysis.

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29 June 2021 – MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

In total from 69,327.83 metres of Diamond Core, Air Core and RC drilling across 482 drill holes are within the McEwen and McEwen Hangingwall area located within the Neometals held mining lease M15/653.

Table 4 shows the history of drilling and sampling in the McEwen and McEwen Hangingwall area.

Table 4 ‐ History of drilling and details for McEwen and McEwen Hangingwall

Company	Hole Type	Year	No of Holes	Metres
INCO	Diamond Core	1968‐1971	122	32,905.56
WD series holes	RC		182	9,682
	Air core		0	0
WMC	Diamond Core	1980‐1991	14	4,795.05
WDA, WDC, WDD series	RC		46	2,669
	Air core		4	159
Titan Resources	Diamond Core	2003‐2005	17	3,765.60
WID series	RC		96	15,329
	Air core		1	23
TOTAL	Diamond Core		153	41,466.21
	RC		324	27,679.62
	Air core		5	182
Grand Total	All Types	1968 ‐ 2005	482	69,327.83

While all information is used in the local geological interpretation, not all of these holes are mineralised nor were they used in the Mineral Resource Estimate for McEwen or McEwen Hangingwall. Air‐core holes were not used in the estimation.

QAQC

Most of the QAQC results for the estimates were sourced from the Titan Resources annual exploration report for 2003‐2004. The report indicated that no significant or material discrepancies were identified by the QAQC sampling and analysis for field duplicates in the drilling and sampling, which is shown in the assay files. No standards or blanks were reported by Titan Resources. It is not known what, if any, QAQC procedures were carried out by operators INCO and WMC before 1999. Analysis of the recent compared to historical data shows reasonable correlation between all drilling companies and types, which provides confidence in the use of the historic data.

Based on these conclusions the competent person, Mr Maddocks, considers the historic and recent drill and sample data at McEwen and McEwen Hangingwall to be valid for use in the Mineral Resource estimation.

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McEwen 1m Sample Field Duplicates Ni% McEwen 4m Sample Field Duplicates Ni%
0.3
4.5
4 0.25
3.5 y = 0.8884x + 0.0063
R² = 0.937
y = 1.0323x ‐ 0.0068 0.2
3
R² = 0.9773
2.5
0.15
2
0.1
1.5
1
0.05
0.5
0 0
0 1 2 3 4 0 0.05 0.1 0.15 0.2 0.25 0.3
‐0.5
Original 4m Composite Sample
Original Sample
Duplicate Sample
Duplicate 4m composite sample
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Figure 13 – Field Duplicate results for nickel from Titan Resources drilling at McEwen.

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29 June 2021 – MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

Bulk Density

There are 42 density measurements within the McEwen mineralised domains taken from core drilled by Titan Resources. These were taken from 11 different drill holes on both the east and west limb of the fold. Measurements were made by the water immersion method. Figure 15 shows the location of these holes. There are no measurements within the McEwen Hangingwall domains, nor are there any in McEwen domain 3 which is predominately in the oxide zone.

A scatter plot and regression formula is illustrated below with the formula used to estimate density into the modelled domains.

Bulk Density (t/m3) = 0.1068 x Ni % + 3.0607

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McEwen Density
4.5
y = 0.1068x + 3.0607
4 R² = 0.1564
3.5
3
2.5
2
0 1 2 3 4 5 6
Nickel Grade %
Dry Bulk Density t/m³
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Figure 14 – McEwen density and nickel grade scatter plot. 42 measurements of diamond core from 11 hole. This density calculation is reliant on nickel grade only and ignores contributions from other elements (e.g. copper and iron). It has been applied only to blocks within the modelled mineralised domains. Outside these domains the fresh mafic is modelled with a density of 2.7 and the fresh ultramafic 2.9 based on reasonable assumptions for these rock types.

Weathering boundaries representing top of fresh rock (tofr) and bottom of complete oxidation (boco) were modelled based on logging of Titan Resources drillholes. Transitional material between tofr and boco was assigned a bulk density of 2.2 and oxide material above boco was assigned a density of 1.8. These are based on reasonable assumptions for these rock types.

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Figure 15 – Oblique view of McEwen and McEwen HW showing location of bulk density measurement drill‐holes.

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29 June 2021 – MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

Variography

Variography was carried out for nickel on the four largest domains, being McEwen HW1, McEwen 1, McEwen 3 & McEwen 4. Data was confined to the mineralised zones that contain the nickel mineralisation. The variograms generally are aligned along strike but with slightly varying dips and plunges. Table 5 tabulates the models applied. The variogram model for McEwen HW1 was applied to the smaller McEwen HW2 domain and the variogram model for McEwen 1 was applied to McEwen 2. A spherical, two structure model was applied to each element. Negative dips indicate a westerly dip while positive dips are easterly.

Table 5 – Variography details for nickel for each domain at McEwen and McEwen Hangingwall

Domain	Nugget C₀	Sill C₁	Sill C₂	Azimuth	Dip	Major₁	Semi₁	Minor₁	Major₂	Semi₂	Minor₂
McEwen HW1	0.05	0.26	0.69	160	‐60	166	25	2	266	50	3
McEwen HW2	0.05	0.26	0.69	160	‐60	166	25	2	266	50	3
McEwen 1	0.10	0.303	0.597	170	‐50	40	19	2	60	34	5
McEwen 2	0.10	0.303	0.597	170	‐50	40	19	2	60	34	5
McEwen 3	0.05	0.805	0.145	160	‐20	26	9	4	102	20	20
McEwen 4	0.0	0.28	0.72	160	80	20	45	0.5	60	80	1

Grade Estimation

Nickel was estimated in 2 passes using ordinary kriging. The first pass search extents used the range indicated in variogram models, the second pass used an increase of 300% ensuring all blocks were informed with nickel grades. The first pass required a minimum of 10 samples from 4 drillholes, and the second pass required 5 samples from 2 drillholes. Nickel grades were also estimated with inverse distance squared (id2), using the ni_ok pass 2 parameters in a single pass. Estimation details are summarised in Table 6.

Table 6 – McEwen and McEwen Hangingwall Mineral Resource Model Grade estimation details

Domain	Variable	Pass	Major	Semi major	Minor	Min holes	Min samps	Max samps	disc x	discy	disc z
McEwen HW1	ni_ok	1	266	50	10	4	10	35	2	5	2
	ni_ok	2	798	150	30	2	5	35	2	5	2
	ni_id2	1	798	150	30	2	5	35	2	5	2
McEwen HW2	ni_ok	1	266	50	10	4	10	35	2	5	2
	ni_ok	2	798	150	30	2	5	35	2	5	2
	ni_id2	1	798	150	30	2	5	35	2	5	2
McEwen 1	ni_ok	1	60	34	10	4	10	35	2	5	2
	ni_ok	2	180	102	30	2	5	35	2	5	2
	ni_id2	1	180	102	30	2	5	35	2	5	2
McEwen 2	ni_ok	1	60	34	10	4	10	35	2	5	2
	ni_ok	2	180	104	30	2	5	35	2	5	2
	ni_id2	1	180	104	30	2	5	35	2	5	2
McEwen 3	ni_ok	1	102	20	20	4	10	35	2	5	2
	ni_ok	2	306	60	60	2	5	35	2	5	2
	ni_id2	1	306	60	60	2	5	35	2	5	2
McEwen	ni_ok	1	60	80	10	4	10	35	2	5	2
	ni_ok	2	180	240	30	2	5	35	2	5	2
4	ni_id2	1	180	240	30	2	5	35	2	5	2

Each domain has a slightly different bearing and/or dip, as shown in table 7. Negative dips are to the west and positive dips to the east. The parent block size is 5m x 15m x 5m, sub‐blocks of 1.25m x 1.25m x 1.25m. Grades are estimated into parent block size.

Table 7‐ Search directions for each Domain

Domain	Bearing	Plunge	Dip
McEwen HW1 McEwen HW2 McEwen 1 McEwen 2 McEwen 3	160 160 170 170 170	0 0 0 0 0	‐60 ‐60 ‐50 ‐50 ‐20 80
McEwen 4	165	34

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29 June 2021 – MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

Top Cuts

Top cuts have been applied to nickel based on cumulative log frequency graphs and co‐efficients of variation (CV). Figure 16 shows the cumulative log normal distribution graph of all nickel composites within all six domains across the two deposits. Three distinct populations are apparent, one between 0.3% and 0.7% representing lower grade disseminated nickel mineralisation, the next one between 0.7% and 3% nickel represents the main mineralised horizon, a smaller population between 3% and 6% nickel which may represent data from massive sulphides.

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Figure 16 ‐ Cumulative Log Frequency graph for nickel in all domains across the two deposits.

Table 8 shows the impact of the application of top cuts for nickel to the domains. The domains display relatively low uncut co‐ efficients of variation with only 5 composites above 6% being cut, with 3 from McEwen Hangingwall and 2 from domain 1 at McEwen. The highest uncut composite is 8.32% so grade cutting to 6% has a minimal impact.

Table 8 ‐ Top Cuts applied

Domain	Cut	No of cut samples	Uncut mean	Cut Mean	Uncut CV	Cut CV
McEwen HW1 McEwen HW2 McEwen 1 McEwen 2 McEwen 3	6% 6% 6% 6% 6%	2 1 2 0 0	1.09 1.18 1.24 1.07 1.05	1.08 1.06 1.23 1.07 1.05	0.90 1.48 0.93 0.76 0.43	0.85 1.18 0.91 0.76 0.43 0.72
McEwen 4	6%	0	0.97	0.97	0.72

Model Validation

Table 9 compares the block model grades with the mean composite grades. The mean composite grade is the mean of all the drill composites within the domain with top cuts applied and the block grade is the average block model grade within the domain with a 0% nickel cut‐off grade applied. The variation between composites and block grades is generally within acceptable limits and does not display any significant bias.

Table 9 ‐ Block model and composite grades by Domain

	McEwen HW1	McEwen HW2	McEwen 1	McEwen 2	McEwen 3	McEwen 4
comp count mean cut comp grade Cut block grade Block : comp ratio	277 1.08 1.10 102	20 1.06 1.26 119	210 1.23 1.04 85	12 1.07 1.09 102	126 1.05 0.96 91	218 0.97 1.05 108

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29 June 2021 – MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

In addition to ordinary kriging, nickel was estimated using inverse distance squared (id2). A comparison between these two estimation methods for all six domains reported at a cut‐off of 1% Ni is shown in Table 10. The results are within expectations given that the ordinary kriging estimate used a two‐pass estimation with more restrictive search parameters, shown in Table 6.

Table 10 ‐ Comparison between Ordinary Kriged and Inverse Distance Squared Estimation. Values are not rounded.

	Inverse Distance Squared	Inverse Distance Squared	Inverse Distance Squared	Ordinary Kriged	Ordinary Kriged	Ordinary Kriged	Variation	Variation
Domain	Tonnes	Ni %	Ni tonnes	Tonnes	Ni %	Ni tonnes	Ni tonnes diff	% diff
McEwen Hangingwall 1 McEwen Hangingwall 2	1,478,631 81,959	1.45 1.61	21,480 1,316	1,802,779 112,951	1.35 1.57	24,332 1,778	2,852 462	12% 26%
TOTAL McEwen HW	1,560,590	1.46	22,795	1,915,730	1.36	26,110	3,315	13%
McEwen 1 McEwen 2 McEwen 3 McEwen 4	500,105 23,261 18,094 594,163	1.49 1.46 1.32 1.23	7,431 339 240 7,334	528,309 31,591 18,559 555,012	1.46 1.13 1.16 1.27	7,701 357 215 7,069	270 17 ‐25 ‐265	4% 5% ‐11% ‐4%
Total McEwen	1,135,623	1.35	15,344	1,133,470	1.35	15,341	‐2	0%
Total McEwen & McEwen HW	2,696,213	1.41	38,139	3,049,200	1.36	41,451	3,312	8%

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Figure 17 ‐ Swath plots for Nickel McEwen All Domains.

The swath plot analysis in the Figure 17 includes all the McEwen and McEwen HW domains. It indicates that the model does represent the underlying composite data except for where there is limited composite data. The model grade is represented by the brown line and the composite data by the blue line.

Audits or reviews

The McEwen and McEwen Hangingwall Mineral Resources models, the drill database and other supporting information was supplied to Snowden Mining Industry Consultants for review. Snowden did not identify any fatal flaws and replicated the nickel tonnage and grade reported by Auralia to within acceptable limits. There was a significant level of communication between Auralia, Snowden and Neometals in the conduct of the review. Snowden made several observations and recommendations, which were incorporated into the final Mineral Resource estimates.

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29 June 2021 – MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

Previous Mineral Resource Estimates

Further validation includes comparison with previous Mineral Resource models estimated for McEwen and McEwen Hangingwall. The last significant estimation of the McEwen and McEwen Hangingwall Mineral Resources was carried out by Hellman & Schofield Pty Ltd in September 2005 for Titan Resources. In 2006 Consolidated Nickel re‐estimated the Mineral Resource using an updated density formula.

A review of the 2006 Mineral Resources was completed by Apollo Phoenix in 2016 however this did not change any of the parameters or wireframe interpretations of the estimates, and the tonnes and grade remain similar to the 2006 Consolidated Minerals estimate.

There is a moderate increase in the Mineral Resource contained nickel tonnes for the Neometals revised estimation of McEwen (Table 11), and a significant difference between the 2006 and 2020 estimations for McEwen HW (Table 12).

Each of the three estimates for McEwen and McEwen Hangingwall have comparable levels of drill and sample data.

Table 11– Comparison with previous McEwen Mineral Resource Estimations, values may be rounded

Company	Year	Tonnes	Nigrade %	Contained nickel tonnes	Cut‐offgrade %
Titan Resources	2003	2,148,000	0.87	18,690	0.5
Consolidated Nickel	2006	1,068,000	1.28	13,670	1.0
Neometals	2021	1,367,000	1.29	17,680	1.0

Table 12– Comparison with previous McEwen Mineral Resource Estimations, values may be rounded

Company	Year	Tonnes	Nigrade %	Contained nickel tonnes	Cut‐offgrade % Ni
Titan Resources	2003	5,115,000	0.85	43,480	0.5
Consolidated Nickel	2006	1,058,000	1.40	14,800	1.0
Neometals	2021	2,052,000	1.34	27,410	1.0

The geological interpretation and resultant solid modelled mineralised shapes for McEwen Hangingwall correspond very closely between the 2006 and 2020 estimations. The difference in the tonnes and grade is due to different grade estimation methods. The 2006 model uses 1.5m composites compared to 1m composites for the 2020 model, and in 2006 a top cut of 3.5% nickel was applied compared to 6% nickel in 2020.

In addition, the search extents were less, resulting in areas of the mineralised solid shape with no estimated grades. Figure 18 compares the two composite sets showing that they are essentially the same; they are based on the same drilling database with the only difference being the composite length as discussed above.

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Figure 18 ‐ Comparison of 2006 and 2020 model composite sets for nickel

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29 June 2021 – MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

Mining and Metallurgical Considerations

Mining and metallurgical factors or assumptions were not explicitly used in estimating the Mineral Resource. It is assumed that underground mining methods would be used for any future mining operations, with the development of a portal using a box cut for an entry point to the decline.

A nickel cut‐off grade of 1.0% is considered the most appropriate for the Mineral Resource estimate. The 1% nickel cut‐off grade is considered to approximate economic mining cut‐off grades for an underground mining scenario comparable to recently published updated underground nickel Ore Reserves and Mineral Resources in the area.

In addition to nickel the distribution of elements such as arsenic, iron, copper, cobalt, sulphur and magnesium requires further delineation. A more detailed interpretation of new data will be required for the planning of any future economic extraction.

Site Visit

Mr Maddocks visited the project on 17 March 2020. The site visit included viewing and validating the location of historic RC and diamond core drill collars.

Future Work

Future work at McEwen and McEwen Hangingwall may include additional infill RC and diamond core drilling and sampling so that a thorough structural and geometallurgical interpretation of the deposit can be incorporated into an upgraded Mineral Resource Estimate. Diamond core drilling and sampling will improve the understanding of the structural orientation, geotechnical attributes, mineralogy, and metallurgical characteristics to pave the way for advanced mining studies.

Controls on economic nickel mineralisation appear to be complex. Closer spaced drilling, along with an increased understanding of the structural history of the deposit, should increase confidence in the distribution of high grade nickel mineralisation. Arsenic is an important element in nickel sulphide deposits due to its deleterious impact on processing. The drilling described above would increase the understanding of the distribution of arsenic mineralisation.

Nickel mineralisation remains open at depth so further deep drilling will test the extent of the Mineral Resource. Down Hole Electromagnetic surveys (DHEM) will be carried out where possible for all future drilling to aid in the delineation and discovery of conductive nickel sulphide mineralisation.

Competent Person Attribution

The information in this report that relates to the Zabel, McEwen and McEwen Hangingwall Mineral Resources is based on, and fairly represents, information and supporting documentation compiled by Richard Maddocks; MSc in Mineral Economics, BAppSc in Applied Geology and Grad Dip in Applied Finance and Investment. Mr. Maddocks is a consultant to Auralia Mining Consulting and is a Fellow of the Australasian Institute of Mining and Metallurgy (member no. 111714) with over 30 years of experience. Mr. Maddocks 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 JORC Code. Mr. Maddocks consents to the inclusion in this report of the matters based on his information in the form and content in which it appears.

Compliance Statement

The information in this report that relates to Exploration Results and Mineral Resources for Neometals other than those discussed in this report relevant to Zabel, McEwen and McEwen Hangingwall are extracted from the ASX Announcements listed in the table below, which are also available on the Company’s website at www.neometals.com.au

19/04/2018	Mt Edwards Nickel ‐ Mineral Resource Estimate
25/06/2018	Mt Edwards ‐ Mineral Resource Over 120,000 Nickel Tonnes
13/11/2019	Additional Nickel Mineral Resource At Mt Edwards
16/04/2020	Mt Edwards Nickel ‐ Armstrong Resource increases 60%
26/05/2020	Mt Edwards Nickel ‐ Gillett Resource increases 30%
06/10/2020	Mt Edwards Nickel ‐ Mineral Resource and Exploration Update
23/12/2020	Mt Edwards Nickel ‐ Zabel Mineral Resource Update

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that all material assumptions and technical parameters underpinning the estimates in the market announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the original market announcements.

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29 June 2021 – MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

Authorised on behalf of Neometals by Christopher Reed, Managing Director.

ENDS

For further information, please contact:

Chris Reed Jeremy Mcmanus Managing Director General Manager ‐ Commercial and IR Neometals Ltd Neometals Ltd T: +61 8 9322 1182 T: +61 8 9322 1182 E: [email protected] E: [email protected]

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About Neometals Ltd

Neometals innovatively develops opportunities in minerals and advanced materials essential for a sustainable future. With a focus on the energy storage megatrend, the strategy focuses on de‐risking and developing long life projects with strong partners and integrating down the value chain to increase margins and return value to shareholders.

Neometals has four core projects with large partners that support the global transition to clean energy and span the battery value chain:

Recycling and Resource Recovery:

Lithium‐ion Battery Recycling – a proprietary process for recovering cobalt and other valuable materials from spent and scrap lithium batteries. Pilot plant testing completed with plans well advanced to conduct demonstration scale trials with 50:50 JV partner SMS group, working towards a development decision in early 2022; and
Vanadium Recovery – sole funding the evaluation of a potential 50:50 joint venture with Critical Metals Ltd to recover vanadium from processing by‐products (“Slag”) from leading Scandinavian Steel maker SSAB. Underpinned by a 10‐year Slag supply agreement, a decision to develop sustainable European production of high‐purity vanadium pentoxide is targeted for December 2022.

Upstream Industrial Minerals:

Barrambie Titanium and Vanadium Project ‐ one of the world's highest‐grade hard‐rock titanium‐vanadium deposits, working towards a development decision in mid‐2022 with potential 50:50 JV partner IMUMR.

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29 June 2021 – MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

APPENDIX 1: Table 1 as per the JORC Code Guidelines (2012)

Section 1 Sampling Techniques and Data	Section 1 Sampling Techniques and Data	Section 1 Sampling Techniques and Data
*Criteria*	*JORC Code Explanation*	Commentary
*Sampling techniques*	Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.	Titan Resources used RC and Diamond core drilling with RC sampling based on 1m intervals. Core was split and submitted as half core or quarter core. Titan Resources core and RC sampling procedures were as follows; Diamond drill core is orientated using a spear every run, up to a maximum of 3 metres. The core is marked up by geologists and cut by ALS. The core is halved and then one half is cut in half again to produce ¼ core. The ¼ core is sampled for assaying. The core is sampled to the mineralisation contacts and at 1 m intervals through the mineralisation. Sampling continues for 10 m below the mineralisation footwall and 10m above the hanging wall. Outside of these zones non mineralised material is not sampled. Samples are produced at 1m intervals from RC drill holes. The samples are usually sampled as either 1 m or 4m composites. A representative scoop is taken through the sample bag. An anomalous 4 m composite sample is resampled at 1m intervals. INCO and WMC sampling techniques are not known.
*Drilling Techniques*	Drill type (eg core, reverse circulation, open- hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).	The McEwen Mineral Resource is based on assays and information from samples sourced through diamond core and RC drilling techniques. Drilling details for INCO and WMC are not known. Titan Resources Diamond drilling was undertaken by DrillCorp Western Deephole utilising a UDR 1000 heavy duty multi-purpose rig with a 900cfm x 350psi onboard compressor. Core size was NQ. Down hole camera shots were taken every 30m and orientations completed every 3 to 6m depending on the core competency. The core was oriented prior to being cut. Half core was retained for future reference and or metallurgical testwork. Holes were surveyed at 30m intervals down hole with and Eastman single shot camera. Titan Resources used McKay Drilling, a Kalgoorlie based company for RC drilling. The rig used was a 1998 Schramm T685W with a 1150/350 onboard compressor and a 1999 Western Air 1150/350 silenced compressor and 1800/900 Hurricane booster.
*Drill Sample Recovery*	Method of recording and assessing core and chip sample recoveries and results assessed.	Sample recovery of drilling by WMC and INCO is not known. No relationship between sample recovery and grade has been recognised.
	Measures taken to maximise sample recovery and ensure representative nature of the samples. Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.

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29 June 2021 – MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

	Section 1 Sampling Techniques and Data	Section 1 Sampling Techniques and Data
*Logging*	Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. The total length and percentage of the relevant intersections logged.	All drill holes have been geologically logged for lithology, weathering, alteration and mineralogy. All samples were logged in the field at the time of drilling and sampling, with diamond core or RC spoil material and sieved rock chips assessed.
*Sub-sampling techniques* *and sample preparation*	If core, whether cut or sawn and whether quarter, half or all core taken. If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. For all sample types, the nature, quality and appropriateness of the sample preparation technique.	Information relating to RC chip samples collected for INCO and WMC is not known. Titan Resources chip samples have been collected in 1m intervals via a cyclone and split using a 75:25 riffle splitter. Approximately 3-5kg of sample was sent to the laboratory for analysis. Sample preparation details have not been described apart from whole sample preparation from which a 0.25g sub-sample is taken for a final 4 acid digest analysis.
*Quality of assay data and* *laboratory tests*	Quality control procedures adopted for all sub- sampling stages to maximise representivity of samples. Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. Whether sample sizes are appropriate to the grain size of the material being sampled.	QAQC procedures carried out by INCO and WMC are not known. The QAQC results sourced from the Titan Resources data indicated that no significant or material discrepancies was identified by the QAQC sampling/analysis for drilling and sampling conducted by Titan Resources.
*Quality of assay data and* *laboratory tests cont.*	The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.	INCO and WMC results are reported in WAMEX reports but the analytical procedures were not disclosed. ALS Chemex (ALS) and Ultra Trace Pty Ltd, were utilized by Titan Resources. For analysis undertaken at ALS, Perth, the entire sample was prepared. Analytical schemes and detection limits as follows • ME-ICP61 (formerly IC587) four acid digestion, HF- HNO3-HCLO4 acid digestion, HCL leach and ICP - AES, detection limits in brackets. Cu (1ppm), Co (1ppm), Ni (1ppm), Cr (1ppm), As (5ppm), Mn (5ppm), Al (0.01%), S (0.01%), Mg (0.01%) and Fe (0.01%). • Copper and nickel values in excess of 1% were re assayed via analytical schemes AA46 (formerly A101) and AA62 (formerly A102) with lower detection limits of 0.01%. • Au-AA24. Nominal sample weight 30g. Au (0.01ppm). • Some samples were analysed for platinum, palladium and gold using PGM-MS27 (formerly PM223). Nominal sample weight 30g – fire assay. Pt (0.05ppm), Pd (0.01ppm) and Au (0.01ppm). After preparation ALS take a split or check from every 25th sample and send it to Ultra Trace Analytical Laboratories in Perth. Analytical schemes and detection limits are as follows

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29 June 2021 – MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

Section 1 Sampling Techniques and Data

Section 1 Sampling Techniques and Data	Section 1 Sampling Techniques and Data	Section 1 Sampling Techniques and Data
		• Four acid digest, detection limits in brackets. Cu (1ppm), Co (1ppm), Ni (1ppm), Cr (5ppm), As (5ppm), Mn (1ppm), Al (0.01%), S (0.01%), Mg (0.01%) and Fe (0.01%). • Gold, platinum and palladium. 40g charge fire assay determination via ICP (inductively coupled plasma) Mass Spectrometry. Au, Pt and Pd all with lower detection limits of 1ppb.
*Verification of sampling* *and assaying*	The verification of significant intersections by either independent or alternative company personnel. The use of twinned holes The verification of significant intersections by either independent or alternative company personnel. Discuss any adjustment to assay data	Assay, Sample ID and logging data of the historical databases are matched and validated using filters in the drill database. The data is further visually validated by Neometals geologists and database staff. No adjustments have been made to assay data.
*Location of data points*	Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.	MGA94_51S is the grid system used in this estimation. Historic survey methods are not known but INCO and WMC data was originally recorded in in local grids that have been converted to current MGA data. This conversion may have introduced some small errors. Downhole survey using Reflex gyro survey equipment was conducted during the program by the drill contractor. Older drill holes used single shot cameras, some do not have azimuth data due to interference of steel drill rods. Downhole Gyro survey data were converted from true north to MGA94 Zone51S and saved into the data base. The formulas used are: Grid Azimuth = True Azimuth + Grid Convergence. Grid Azimuth = Magnetic Azimuth + Magnetic Declination + Grid Convergence. The Magnetic Declination and Grid Convergence were calculated with and accuracy to 1 decimal place using plugins in QGIS. Magnetic Declination = 0.8 Grid Convergence= -0.7
	Specification of the grid system used Quality and adequacy of topographic control
*Data* *spacing* *and* *distribution*	Data spacing for reporting of Exploration Results 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. Whether sample compositing has been applied	All RC drill holes were sampled at 1 metre intervals down hole. Select sample compositing has been applied at a nominal 4 metre intervals determined by the geologist. Historic RC drilling was at a minimum of 1m in mineralised zones. Some non-mineralised areas were sampled at larger intervals of up to 4m. Diamond core was sampled to geological contacts with some samples less than 1m in length.
*Orientation of data in* *relation* to *geological* *structure*	Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.	Drilling has generally been oriented perpendicular to strike at dips from -45 to -90 degrees. Intersections are generally not true lengths. There is no significant bias introduced due to drilling orientation.
	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.
*Sample security*	The measures taken to ensure sample security	Historic security measures are not known. Sample security was not considered a significant risk to the project.

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29 June 2021 – MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

Section 2 Reporting of Exploration Results

Section 2 Reporting of Exploration Results	Section 2 Reporting of Exploration Results	Section 2 Reporting of Exploration Results
*Criteria*	*JORC Code Explanation*	Commentary
*Mineral tenement and land* *tenure status*	Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and 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.	The McEwen and McEwen Hangingwall deposits are located on Mining Lease M15/653 within the jurisdiction of Western Australia. Neometals, either in its own right, or through its 100% owned subsidiary Mt Edwards Lithium Pty Ltd, holds all mineral rights other than gold on Mining Lease M15/653.
*Exploration done by other* *parties*	Acknowledgment and appraisal of exploration by other parties.	Neometals has held an interest in M15/653 since June 2018. All prior work has been conducted by other parties. The ground has a long history of exploration and has been explored for nickel since the 1960s, initially by INCO in the 1960’s and then Western Mining Corporation from the early 1980’s. Numerous companies have taken varying interests in the project area since this time. Titan Resources held the tenement from 2001. Consolidated Minerals took ownership from Titan Resources in 2006, and Salt Lake Mining in 2014.
*Geology*	Deposit type, geological setting and style of mineralisation.	The geology in both areas comprises of sub-vertically dipping multiple sequences of ultramafic rock, metabasalt rock units and intermittent meta-sedimentary units. Contact zones between ultramafic rock and metabasalt are considered as favourable zones for nickel mineralisation. The basal contact has been folded over the crest of the Mt Edwards Anticline. The McEwen Hangingwall domains occur on the western or hanging-wall limb of the anticline. The McEwen domains, located about 500m south of the hanging-wall domains, are located on both limbs of the Mt Edwards Anticline .
*Drill hole information*	A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: 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, 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.	Relevant drill hole information has been tabled in the report including hole ID, drill type, drill collar location, elevation, drilled depth and azimuth. Historic drilling completed by previous owners has been verified and included in the drilling database.
*Data aggregation methods*	In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated. Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. The assumptions used for any reporting of metal equivalent values should be clearly stated.	For RC drilling samples assessed as prospective for nickel mineralisation were assayed at single metre sample intervals, while zones where the geology were considered less prospective were assayed at a nominal 4 metre length composite sample.

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29 June 2021 – MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

*Relationship between* *mineralisation widths and* *intercept lengths*	These relationships are particularly important in the reporting of Exploration Results If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’).	Nickel mineralisation is hosted in the ultramafic rock unit close to the metabasalt contact zones. All drilling is angled to best intercept the favourable contact zones between ultramafic rock and metabasalt rock units to best as possible test true widths of mineralisation. Due to the steep orientation of the mineralised zones there will be minor exaggeration of the width of intercepts.
*Diagrams*	Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	Appropriate maps, sections and tables are included in the body of this report
*Balanced reporting*	Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	Current understanding is based on historical mapping, drilling and sampling conducted by previous owners of the tenement. The geology of the McEwen and McEwen Hangingwall deposits is well known.
*Other substantive* *exploration data*	Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics potential deleterious or contaminating substances.	No further exploration data has been collected at this stage.
*Further work*	The nature and scale of planned further work (eg tests for lateral extensions or large scale step out drilling. Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	Further drilling, sampling and DHEM geophysics is recommended to test the potential lateral extents and infill areas for nickel mineralisation. Further metallurgical test work is recommended to improve the understanding of the nickel mineralisation and its amenability to extraction.

	Section 3 Estimation and Reporting of Mineral Resources	Section 3 Estimation and Reporting of Mineral Resources
*Criteria*	*JORC Code Explanation*	Commentary
*Database integrity*	Measures taken to ensure that data has not been corrupted by, for example, transcription or keying errors, between its initial collection and its use for Mineral Resource estimation purposes. Data validation procedures used.	The database is an accumulation of exploration by several companies. Data was inspected for errors. No obvious errors were found. Drillhole locations, downhole surveys, geology and assays all corresponded to expected locations.
*Site visits*	Comment on any site visits undertaken by the Competent Person and the outcome of those visits. If no site visits have been undertaken indicate why this is the case.	The competent person has visited the site. An inspection of the site was conducted on 17 March 2020.

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29 June 2021 – MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

Section 3 Estimation and Reporting of Mineral Resources	Section 3 Estimation and Reporting of Mineral Resources	Section 3 Estimation and Reporting of Mineral Resources
*Geological* *interpretation*	Confidence in (or conversely, the uncertainty of) the geological interpretation of the mineral deposit. Nature of the data used and of any assumptions made. The effect, if any, of alternative interpretations on Mineral Resource estimation.	There are sufficient drill intersections through the mineralisation and geology to be confident of the geological interpretation. These types of nickel deposits have been mined in the Kambalda/Widgiemooltha region for many years and the geology is well documented. The basal contact of the ultramafic overlying mafics has been accurately located through many drill hole intersections. The nickel enriched base of the ultramafics also has been accurately determined through drill intersections. The basal contact corresponds closely with the higher- grade nickel mineralisation.
	The use of geology in guiding and controlling Mineral Resource estimation. The factors affecting continuity both of grade and geology	High grade nickel is distributed along a narrow, convoluted ribbon extending down dip along the basal contact. Remobilisation of massive sulphides may complicate this distribution. Mineralised domains have been constructed based on proximity to the basal contact and the presence of anomalous nickel mineralisation.
*Dimensions*	The extent and variability of the Mineral Resource expressed as length (along strike or otherwise), plan width, and depth below surface to the upper and lower limits of the Mineral Resource.	The modelled deposits of McEwen and McEwen Hangingwall have strike extents of 250 metres and 530 metres respectively. They have a vertical down dip extent of about 360m for McEwen Hangingwall and 400m for McEwen. The deepest part of the mineralised domain for McEwen Hangingwall is 430m below surface and McEwen 420m. The mineralised zones are from about 1m to 10m wide.

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29 June 2021 – MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

Section 3 Estimation and Reporting of Mineral Resources

Section 3 Estimation and Reporting of Mineral Resources	Section 3 Estimation and Reporting of Mineral Resources	Section 3 Estimation and Reporting of Mineral Resources
*Estimation and* *modelling techniques*	The nature and appropriateness of the estimation technique(s) applied and key assumptions, including treatment of extreme grade values, domains, interpolation parameters and maximum distance of extrapolation from data points. If a computer assisted estimation method was chosen include a description of computer software and parameters used. The availability of check estimates, previous estimates and/or mine production records and whether the Mineral Resource estimate takes appropriate account of such data. The assumptions made regarding recovery of by- products. Estimation of deleterious elements or other non-grade variables of economic significance (eg sulphur for acid mine drainage characterisation). In the case of block model interpolation, the block size in relation to the average sample spacing and the search employed. Any assumptions behind modelling of selective mining units. Any assumptions about correlation between variables. Description of how the geological interpretation was used to control the resource estimates. Discussion of basis for using or not using grade cutting or capping. The process of validation, the checking process used, the comparison of model data to drill hole data, and use of reconciliation data if available.	The estimation was done for both deposits using ordinary kriging. Six mineralised domains were modelled representing the basal accumulation of nickel bearing sulphides, four at McEwen and two at McEwen Hangingwall. Lower levels of nickel mineralisation representing non sulphide nickel in the ultramafic rocks were generally not included however sometimes for continuity of domain modelling lower grade intersections were included. The Mineral Resource was estimated using Vulcan v2020. Only Ni was estimated due to lack of assaying for other elements in much of the deposit. Composites were modelled at 1m intervals to reflect the dominant sample intervals in the database. The block size was 5mX, 15mY, 5mZ. A sub-block size of 1.25Mx, 1.25My, 1.25Mz was used to accurately model the narrow ore horizon. A parent block size of 5mx12.5mx5m was used in grade estimation. The search directions were based on the orientation of the mineralised horizon. A two-pass estimation was used, pass 1 reflected the variography model ranges and pass 2 was 300% greater to ensure all blocks within the domain were estimated. No assumptions were made on correlation of modelled variables. A top cut of 6% was applied to nickel based on coefficient of variation analysis and cumulative log normal graphs. Comparison to previous estimates and swath plots were used to verify the model. Visual examination was also used.
*Moisture*	Whether the tonnages are estimated on a dry basis or with natural moisture, and the method of determination of the moisture content.	Estimates are on a dry tonne basis
*Cut-off parameters*	The basis of the adopted cut-off grade(s) or quality parameters applied.	The reported cut-off grade of 1% Ni used for reporting corresponds to a potential mining cut-off grade appropriate for underground mining methods.
*Mining factors or* *assumptions*	Assumptions made regarding possible mining methods, minimum mining dimensions and internal (or, if applicable, external) mining dilution. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider potential mining methods, but the assumptions made regarding mining methods and parameters when estimating Mineral Resources may not always be rigorous. Where this is the case, this should be reported with an explanation of the basis of the mining assumptions made.	While no mining factors have been implicitly used in the modelling the model was constructed with underground mining methods considered the most likely to be used.
*Metallurgical factors* *or assumptions*	The basis for assumptions or predictions regarding metallurgical amenability. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider potential metallurgical methods, but the assumptions regarding metallurgical treatment processes and parameters made when reporting Mineral Resources may not always be rigorous.	No metallurgical factors have been assumed however the oxide and transitional zones require additional mineralogical and metallurgical test-work to establish the nature and occurrence of nickel mineral species.
*Environmental* *factors or* *assumptions*	Assumptions made regarding possible waste and process residue disposal options. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider the potential	No environmental factors or assumptions were used in the modelling.

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29 June 2021 – MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

Section 3 Estimation and Reporting of Mineral Resources

Section 3 Estimation and Reporting of Mineral Resources	Section 3 Estimation and Reporting of Mineral Resources	Section 3 Estimation and Reporting of Mineral Resources
	environmental impacts of the mining and processing operation. While at this stage the determination of potential environmental impacts, particularly for a greenfields project, may not always be well advanced, the status of early consideration of these potential environmental impacts should be reported. Where aspects have not been considered this should be reported with an explanation of the environmental assumptions made.
*Bulk density*	Whether assumed or determined. If assumed, the basis for the assumptions. If determined, the method used, whether wet or dry, the frequency of the measurements, the nature, size and representativeness of the samples.	Bulk density within the mineralised horizon was estimated with a regression formula derived from 42 measurements on 11 diamond drill holes. The formula used is: Bulk Density (t/m3) = (0.1068 x Ni %) + 3.0607 Weathered material was assigned a density of 1.8 for oxide and 2.2 for transitional. Fresh Mafic waste 2.7 and ultramafic waste 2.9
	The bulk density for bulk material must have been measured by methods that adequately account for void spaces (vugs, porosity, etc), moisture and differences between rock and alteration zones within the deposit. Discuss assumptions for bulk density estimates used in the evaluation process of the different materials.
*Classification*	The basis for the classification of the Mineral Resources into varying confidence categories. Whether appropriate account has been taken of all relevant factors (i.e. relative confidence in tonnage/grade estimations, reliability of input data, confidence in continuity of geology and metal values, quality, quantity and distribution of the data. Whether the result appropriately reflects the Competent Person’s view of the deposit. The results of any audits or reviews of Mineral Resource estimates	The McEwen and McEwen Hangingwall Mineral Resources have been classified as Inferred. The wide spaced drilling in parts of both deposits and the lack of density measurements precludes a higher classification. McEwen HW in particular has only been drilled with holes dating to prior than 1990 with most dating to 1968-71. Additional infill drilling will be required to upgrade the classification. These classifications reflect the Competent Person’s view of the deposits.
*Audits or reviews*		Auralia Mining Consultants is independent of Neometals.
*Discussion of relative* *accuracy/ confidence*	Where appropriate a statement of the relative accuracy and confidence level in the Mineral Resource estimate using an approach or procedure deemed appropriate by the Competent Person. For example, the application of statistical or geostatistical procedures to quantify the relative accuracy of the resource within stated confidence limits, or, if such an approach is not deemed appropriate, a qualitative discussion of the factors that could affect the relative accuracy and confidence of the estimate. The statement should specify whether it relates to global or local estimates, and, if local, state the relevant tonnages, which should be relevant to technical and economic evaluation. Documentation should include assumptions made and the procedures used. These statements of relative accuracy and confidence of the estimate should be compared with production data, where available.	There is much drilling into the McEwen and McEwen Hangingwall Mineral Resources. The position of the nickel mineralised horizon has been well established as has the global grade. The stated tonnages and grade reflect the geological interpretation and the categorisation of the Mineral Resource estimates reflects the relative confidence and accuracy.

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29 June 2021 – MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

APPENDIX 2: Drill holes used in the McEwen & McEwen HW estimates

Hole ID	Drill Type	East	North	RL	Depth	Company	Date	Dip	Azimuth
WD10503 WD10504 WD10505 WD10704 WD10709 WD10714 WD10721 WD10725 WD10728 WD10731 WD10732 WD10751 WD3218 WD3219 WD3318 WD3401 WD3402 WD3403 WD3404 WD3405 WD3406 WD3407 WD3446 WD3447 WD3448 WD3449 WD3450 WD3451 WD3452 WD3453 WD3454 WD4111 WD4118 WD4122 WD4124 WD4128 WD4130 WD4131 WD4132 WD4135 WD4137 WD4140 WD4141 WD4144	DD DD DD DD DD DD DD DD DD DD DD RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC DD DD DD DD DD DD DD DD DD DD DD DD DD	359074.26 359224.57 359274.61 359724.37 359752.37 359640.17 359021.73 359781.04 359695.38 359589.74 359768.4 359259.58 359374.21 359434.34 358896.88 359284.71 359299.73 359314.77 359329.8 359359.86 359304.67 359319.7 359184.63 359169.6 359154.58 359064.38 359034.32 359004.25 358974.2 358944.13 359244.76 358901.88 359289.98 359373.56 359237.54 358913.85 359242.87 359348.46 359214.19 358873.9 359274.49 359191.9 358978.9 359184.58	6525427 6525452 6525337 6524763 6524643 6524809 6524584 6524590 6524726 6524810 6524707 6525334 6524364 6524374 6525397 6525462 6525464 6525467 6525469 6525474 6525341 6525344 6525692 6525690 6525687 6525672 6525667 6525662 6525657 6525652 6525702 6525367 6524500 6524324 6524527 6525277 6524556 6524854 6524482 6525517 6524372 6524430 6525164 6524547	323.39 322.39 322.19 316.58 316.2 316.8 320.66 317.04 317 317.31 316.22 322.39 324.89 324.39 323.89 326.03 325.23 324.11 323.73 323 325.88 325.56 322.79 322.89 322.89 323.39 323.39 323.39 323.89 323.89 324.06 323.89 322.15 324.7 325.19 323.89 324.41 322.89 324.46 323.89 324.9 321.42 323.19 320.86	16.76 21.34 18.29 425.2 391.67 346.56 730.3 403.25 350.82 254.05 485.24 23.16 42.67 33.53 35.05 60.96 45.72 82.3 70.1 67.06 67.06 64.01 76.2 60.96 70.1 48.77 67.06 67.06 64.01 57.91 48.77 294.13 259.99 147.83 174.65 255.12 189.89 252.98 201.47 200.9 165.51 223.42 213.7 247.8	INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO	23/10/1970 23/10/1970 23/10/1970 18/02/1971 16/03/1971 7/04/1971 5/06/1971 5/07/1971 29/07/1971 6/08/1971 8/09/1971 12/02/1971 16/09/1968 16/09/1968 4/09/1968 7/06/1968 7/06/1968 8/06/1968 12/06/1968 13/06/1968 14/06/1968 14/06/1968 5/06/1968 6/06/1968 7/06/1968 8/06/1968 12/05/1968 13/05/1968 14/06/1968 15/06/1968 15/06/1968 11/10/1968 11/10/1968 18/10/1968 27/10/1968 9/11/1968 6/11/1968 9/11/1968 12/11/1968 23/11/1968 21/11/1968 4/12/1968 5/12/1968 12/12/1968	‐90 ‐90 ‐90 ‐60 ‐60 ‐60 ‐65 ‐60 ‐60 ‐60 ‐60 ‐90 ‐90 ‐90 ‐55 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐57 ‐45 ‐50 ‐45 ‐45 ‐50 ‐45 ‐53 ‐49 ‐45 ‐60 ‐47 ‐59	359.53 359.53 359.53 260.53 260.53 260.53 260.53 260.53 260.53 260.53 260.53 359.53 359.53 359.53 80.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 80.53 80.53 80.53 80.53 80.53 80.53 80.53 80.53 80.53 80.53 80.53 80.53 80.53

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29 June 2021 – MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

Hole ID	Drill Type	East	North	RL	Depth	Company	Date	Dip	Azimuth
WD4145 WD4149 WD4150 WD4453 WD4782 WD4783 WD4784 WD4785 WD4786 WD4787 WD4788 WD4800 WD4801 WD4802 WD4803 WD4804 WD4805 WD4806 WD4807 WD4808 WD4809 WD4810 WD4811 WD4812 WD4813 WD4814 WD4815 WD4816 WD4817 WD4818 WD4819 WD4820 WD4821 WD4822 WD4841 WD4842 WD4843 WD4844 WD4845 WD4846 WD4847 WD4848 WD4849 WD4850 WD4951 WD4952	DD DD DD RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC	358862.74 359319.25 359009.39 359467.91 358894.1 358879.06 358864.03 358849.01 358833.97 359214.7 359199.67 359269.68 359334.74 359289.64 359329.57 359374.67 359389.7 359404.73 359314.54 359284.47 359254.41 359224.34 359194.29 359294.34 359309.38 359294.34 359354.47 359339.43 359324.41 359309.38 359294.34 359389.24 359404.27 359419.3 359044.18 359014.13 358984.07 358954.01 358923.93 359034.1 359064.16 359094.22 359124.29 358482.84 358467.82 358452.78	6525268 6524602 6525045 6525791 6525768 6525765 6525763 6525760 6525758 6525697 6525695 6525459 6525346 6525339 6525098 6525106 6525108 6525111 6525096 6525091 6525086 6525081 6525076 6524846 6524848 6524846 6524855 6524853 6524850 6524848 6524846 6524367 6524369 6524372 6525422 6525417 6525412 6525407 6525402 6525297 6525302 6525307 6525312 6525081 6525079 6525076	323.89 320.5 323.39 320.89 324.39 324.39 324.49 324.69 324.69 322.59 322.69 322.19 321.89 322.19 321.79 321.59 321.39 321.39 321.89 318.78 321.89 322.19 322.39 319.25 319.1 319.25 322.89 322.89 322.89 319.1 319.25 324.89 324.39 324.39 323.39 323.39 323.89 323.89 323.89 323.39 323.19 323.09 322.89 322.65 326.19 326.19	302.97 125.88 224.64 51.21 64.01 64.01 60.96 64.01 60.96 70.1 70.1 67.06 64.01 64.01 42.67 33.53 36.58 33.53 54.86 60.96 45.72 51.82 60.96 45.72 45.72 43.28 44.2 45.72 33.53 51.82 38.1 48.77 48.77 42.67 43.59 54.86 44.2 50.29 54.86 38.1 47.24 54.86 38.1 30.48 36.58 27.43	INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO	17/12/1968 7/01/1969 13/01/1969 11/04/1968 27/05/1968 28/05/1968 29/05/1968 29/05/1968 30/05/1968 31/05/1968 1/06/1968 6/06/1968 9/07/1968 9/07/1968 10/07/1968 10/07/1968 10/07/1968 11/07/1968 12/07/1968 12/07/1968 13/07/1968 13/07/1968 13/07/1968 13/07/1968 15/07/1968 16/07/1968 16/07/1968 16/07/1968 17/07/1968 17/07/1968 18/07/1968 19/07/1968 19/07/1968 19/07/1968 25/07/1968 25/07/1968 26/07/1968 27/07/1968 29/07/1968 29/07/1968 30/07/1968 30/07/1968 30/07/1968 6/08/1968 6/08/1968 7/08/1968	‐55 ‐50 ‐45 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90	80.53 80.53 80.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53

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29 June 2021 – MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

Hole ID	Drill Type	East	North	RL	Depth	Company	Date	Dip	Azimuth
WD4953 WD4954 WD4955 WD4972 WD4973 WD4975 WD4976 WD4977 WD4978 WD4986 WD4987 WD4988 WD4989 WD5117 WD5118 WD5119 WD5120 WD5135 WD5136 WD5151 WD5152 WD5153 WD5154 WD5155 WD5156 WD5157 WD5158 WD5159 WD5161 WD5162 WD5163 WD5164 WD5302 WD5304 WD5306 WD5310 WD5312 WD5313 WD5315 WD5318 WD5319 WD5321 WD5323 WD5325 WD5327 WD5328	RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC DD DD DD DD DD DD DD DD DD DD DD DD DD DD	358437.75 358422.72 358407.69 358663.22 358648.21 358633.17 359334.28 359349.31 359364.34 359499.63 359514.66 359530.69 359544.72 359319.25 359379.37 359394.41 359559.75 359409.43 359424.47 358843.95 358858.99 358874.02 358889.05 358884 358899.03 358914.07 358929.09 358959.16 359439.5 359454.52 359469.56 359484.59 359349.31 358845.77 359111.49 358801.75 358757.08 359119.62 358981.48 359064.42 359031.51 358781.56 359339.94 358888.72 359359.08 359021.65	6525074 6525071 6525069 6525111 6525109 6525106 6524605 6524607 6524610 6524632 6524635 6524637 6524640 6524602 6524612 6524615 6524642 6524617 6524620 6525697 6525700 6525702 6525705 6525642 6525645 6525647 6525650 6525655 6524622 6524625 6524627 6524630 6524607 6525389 6524600 6525505 6525374 6524463 6525288 6524519 6525173 6525255 6524544 6525149 6524443 6524587	326.19 326.39 326.39 325.39 325.39 325.39 324.39 324.39 324.89 322.39 321.89 318.32 317.91 320.5 338.39 324.89 320.89 324.89 324.89 324.39 324.39 324.39 324.39 323.89 323.89 323.89 323.89 323.89 324.39 323.89 323.39 323.09 320.68 323.89 320.99 324.39 324.39 321.04 323.39 321.1 323.19 324.39 323.23 323.89 325.39 321.01	28.96 35.05 41.15 53.34 47.24 35.04 44.2 54.86 50.29 35.05 39.62 48.77 33.53 39.62 45.72 44.2 22.86 42.67 24.38 56.39 51.82 54.86 57.91 51.82 30.48 54.86 48.77 48.77 41.15 39.62 41.15 30.48 213.36 306.63 238.05 307.85 356.62 250.85 202 302.67 160.02 378.29 99.36 308.79 97.84 309.07	INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO	7/08/1968 8/08/1968 8/08/1968 19/08/1968 19/08/1968 20/08/1968 20/08/1968 21/08/1968 22/08/1968 26/08/1968 26/08/1968 27/08/1968 28/08/1968 7/11/1968 8/11/1968 12/11/1968 12/11/1968 22/11/1968 25/11/1968 21/11/1968 21/11/1968 22/11/1968 22/11/1968 22/11/1968 22/11/1968 22/11/1968 23/11/1968 23/11/1968 11/12/1968 11/12/1968 13/12/1968 13/12/1968 18/01/1969 28/01/1969 10/02/1969 7/02/1969 3/03/1969 20/02/1969 26/02/1969 12/03/1969 13/03/1969 21/03/1969 19/03/1969 31/03/1969 25/03/1969 11/04/1969	‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐50 ‐65 ‐55 ‐65 ‐65 ‐60 ‐47 ‐60 ‐47 ‐63 ‐50 ‐57 ‐52 ‐55	359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 80.53 80.53 80.53 80.53 80.53 80.53 80.53 80.53 80.53 80.53 80.53 80.53 80.53 80.53

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29 June 2021 – MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

Hole ID	Drill Type	East	North	RL	Depth	Company	Date	Dip	Azimuth
WD5329 WD5330 WD5332 WD5337 WD5338 WD5341 WD5342 WD5343 WD5344 WD5346 WD5347 WD5468 WD5469 WD5470 WD5471 WD5472 WD5491 WD5492 WD5493 WD5494 WD5495 WD5496 WD5680 WD5681 WD5803 WD5804 WD5809 WD5810 WD5811 WD5812 WD5813 WD5815 WD5818 WD5819 WD5820 WD5821 WD5822 WD5824 WD5825 WD5826 WD5830 WD5831 WD5832 WD5833 WD5838 WD5839	DD DD DD DD DD DD DD DD DD DD RC RC RC RC RC RC RC RC RC RC RC RC RC RC DD DD DD DD DD DD DD DD DD DD DD DD DD DD DD DD DD DD DD DD DD DD	358935.07 359086.8 358928.23 358956.16 358838.91 358797.02 358680.42 358936.52 359011.78 359154.34 358963.01 359279.31 359264.28 359249.25 359234.22 359219.18 359469.56 359544.72 359434.45 359384.42 359163.99 359444.55 359203.85 359189.12 358690.52 358897.83 359120.05 359187.12 358941.99 358852.34 358904.63 359384.79 359248.6 358860.76 359373.44 358871.64 359379.27 358815.6 358880.53 359020.78 358572.27 359000.92 358965.91 358796.29 359060.95 358757.85	6525404 6524414 6525032 6524500 6525635 6525134 6525361 6525157 6524443 6524349 6524580 6524843 6524841 6524838 6524836 6524833 6524627 6524640 6524560 6524675 6524700 6524685 6524832 6524828 6525487 6525212 6524638 6524423 6525096 6525143 6525460 6525355 6524432 6525144 6524574 6525084 6524446 6525199 6524487 6525233 6525467 6525106 6525223 6525743 6525116 6525621	323.89 321.35 323.89 321.23 324.39 324.39 324.89 323.39 321.17 321.51 324.39 322.89 322.89 322.89 322.89 322.89 319.72 317.91 324.89 323.89 323.89 319.63 322.89 322.89 324.89 323.89 320.7 325.39 323.89 323.89 323.89 321.69 324.87 323.89 325.39 324.39 325.39 324.39 320.99 323.39 325.89 323.89 323.89 324.89 323.89 324.79	136.25 293.22 269.14 409.04 173.13 382.52 474.57 242.92 384.66 236.83 48.77 51.82 57.91 57.91 59.44 64.01 39.62 96.01 53.34 59.44 65.52 41.15 77.72 57.91 410.6 283.46 255.11 318.2 251.16 112.8 202.39 221.6 247.8 332.54 92.95 304.79 102.11 356.61 486.45 185.92 565.4 205.44 225.55 224.94 185.32 295.96	INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO	10/04/1969 15/04/1969 29/04/1969 12/05/1969 6/05/1969 3/06/1969 21/06/1969 29/05/1969 1/06/1969 16/06/1969 9/06/1969 16/04/1969 16/04/1969 17/04/1969 18/04/1969 18/04/1969 25/04/1969 29/04/1969 8/05/1969 7/05/1969 15/05/1969 24/05/1969 25/06/1969 26/06/1969 14/07/1969 19/06/1969 26/06/1969 5/07/1969 8/07/1969 6/07/1969 8/07/1969 20/07/1969 22/06/1969 30/07/1969 18/07/1969 30/07/1969 17/07/1969 22/08/1969 12/08/1969 2/08/1969 9/09/1969 13/08/1969 21/08/1969 17/08/1969 1/01/1900 23/09/1969	‐52 ‐60 ‐65 ‐62 ‐47 ‐65 ‐69 ‐55 ‐60 ‐65 ‐65 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐70 ‐45 ‐70 ‐90 ‐67 ‐68 ‐58 ‐52 ‐89.99 ‐71 ‐90 ‐69 ‐90 ‐69 ‐75 ‐67 ‐77 ‐65 ‐70 ‐55 ‐71 ‐69	80.53 80.53 80.53 80.53 80.53 80.53 80.53 80.53 80.53 80.53 80.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 80.53 80.53 80.53 359.53 80.53 80.53 80.53 260.53 260.53 80.53 359.53 80.53 359.53 80.53 80.53 80.53 80.53 80.53 80.53 80.53 80.53 80.53

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29 June 2021 – MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

Hole ID	Drill Type	East	North	RL	Depth	Company	Date	Dip	Azimuth
WD6052 WD6053 WD6054 WD6055 WD6072 WD6073 WD6074 WD6075 WD6076 WD6077 WD6259 WD6260 WD6261 WD6262 WD6290 WD6291 WD6292 WD6293 WD6512 WD6513 WD6514 WD6515 WD6519 WD6520 WD6521 WD6522 WD6523 WD6524 WD6525 WD6526 WD6527 WD6528 WD6529 WD6530 WD6571 WD6572 WD6573 WD6574 WD6575 WD6576 WD6577 WD6578 WD6579 WD6580 WD6581 WD6582	RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC	359459.58 359429.51 359444.55 359459.58 359138.95 359332.21 359275.34 359212.71 359299.97 359210.13 359409.49 359439.55 359469.62 359503.02 359529.69 359509.61 359489.64 359558.76 359460.9 359449.48 359494.57 359536.68 359376.87 359512.16 359181.47 359399.45 359429.51 359459.58 359199.04 359089.18 358989.11 359164.21 359264.16 359204.04 359885.75 359154.36 359184.42 359214.48 359244.54 359044.3 359074.37 359104.43 359134.5 359164.56 359197.62 359197.62	6524688 6524683 6524685 6524688 6525521 6524506 6524495 6524481 6524563 6524483 6524710 6524715 6524720 6524628 6524637 6524572 6524693 6524648 6524401 6524562 6524570 6524595 6524628 6524650 6524595 6524678 6524683 6524688 6524675 6525244 6525474 6525071 6524655 6524645 6525191 6525317 6525322 6525327 6525332 6525607 6525612 6525617 6525622 6525627 6525633 6525633	319.59 319.6 319.63 319.59 322.89 325.39 325.39 325.39 323.16 324.64 323.39 322.89 322.39 321.14 318.32 322.89 321.89 320.69 324.39 324.39 322.89 321.89 324.39 318.73 324.69 323.69 319.6 319.59 319.91 322.89 323.89 322.39 324.39 324.39 318.39 322.89 322.39 322.39 322.39 319.78 319.61 319.43 319.26 319.22 319.17 319.17	47.24 50.29 48.77 33.53 54.86 45.72 57.91 45.72 64.01 47.24 56.39 41.15 47.24 83.82 83.82 42.67 73.15 83.82 47.24 51.82 51.82 96.01 57.91 56.39 53.34 65.53 54.86 45.72 33.53 56.39 50.29 53.34 108.2 108.2 39.62 45.72 49.38 60.95 64.01 57.91 57.91 57.91 65.53 65.84 57.91 68.58	INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO	29/07/1969 30/07/1969 31/07/1969 1/08/1969 1969 1969 1969 1969 1969 1969 4/09/1969 5/09/1969 5/09/1969 5/09/1969 17/10/1969 18/10/1969 20/10/1969 21/10/1969 20/02/1972 21/02/1972 4/03/1970 6/03/1970 17/03/1970 18/03/1970 26/03/1970 19/03/1970 20/03/1970 21/03/1970 26/03/1970 31/03/1970 1/04/1970 1/04/1970 6/04/1970 10/04/1970 30/10/1970 31/10/1970 2/11/1970 3/11/1970 4/11/1970 5/11/1970 5/11/1970 5/11/1970 7/11/1970 9/11/1970 1970 1970	‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90	359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53

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29 June 2021 – MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

Hole ID	Drill Type	East	North	RL	Depth	Company	Date	Dip	Azimuth
WD6583 WD6584 WD6585 WD6586 WD6587 WD6588 WD6589 WD6590 WD6591 WD6592 WD6593 WD6594 WD6595 WD6596 WD6597 WD6598 WD8016 WD8017 WD8018 WD8019 WD8020 WD8021 WD8022 WD8118 WD8126 WD8130 WD8133 WD8135 WD8137 WD8137W1 WD8138 WD8142 WD8143 WD8148 WD8149 WD8150 WD8152 WD8153 WD8156 WD8158 WD8159 WD8160 WD8162 WD8163 WD8164 WD8165	RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC DD DD DD DD DD DD DD DD DD DD DD DD DD DD DD DD DD DD DD DD DD DD DD	359254.75 359224.68 359194.62 359164.56 359134.5 359104.43 359343.88 359399.56 359369.5 359336.43 359309.38 359430.12 359334.51 359304.44 359214.5 359185.19 359419.42 359506.61 359178.96 359199.04 359406.45 359274.38 359244.31 359101.67 358885.46 358733.34 359203.31 359039.75 358728.1 358728.1 358937.83 359227.75 358821.05 358838.97 359121.7 358841.13 359060.2 358578.2 358864.47 358756.12 358719.64 358577.24 358756.12 358789.06 358722.59 358605.2	6525642 6525637 6525632 6525627 6525622 6525617 6524733 6524863 6524858 6524852 6524848 6524865 6524976 6524971 6524954 6524945 6524557 6524590 6524610 6524675 6524636 6524966 6524961 6524341 6524570 6525061 6524613 6525359 6525184 6525184 6525342 6524435 6525447 6525573 6524529 6525512 6524452 6525344 6525330 6525436 6525244 6525343 6525436 6525565 6524998 6525102	319.11 319.15 319.18 319.22 319.26 319.43 323.89 323.09 322.89 322.89 319.1 322.89 321.89 321.89 322.19 322.39 325.39 322.39 324.39 319.91 324.39 321.89 318.79 321.47 321.31 323.89 320.97 323.89 323.89 323.89 323.89 324.77 323.89 323.89 321.51 323.89 321.13 323.89 323.89 321.1 323.89 323.89 323.89 323.89 323.89 323.89	46.94 48.77 42.67 73.15 89.92 60.96 52.73 35.05 47.24 42.67 57.91 120.4 59.44 47.24 67.06 96.01 47.24 48.77 62.48 42.67 50.29 36.58 54.86 304.8 433.73 436.2 189.58 38.4 183.5 431 215.19 195.07 296.29 217.63 228.6 256.02 302.97 39 290.17 50.79 448.1 554.13 375.2 252.69 438 566.92	INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO	1970 1970 1970 22/01/1971 22/01/1971 25/01/1971 26/01/1971 26/01/1971 27/01/1971 27/01/1971 28/01/1971 29/01/1971 30/01/1971 30/01/1971 1/02/1971 1/02/1971 8/01/1970 10/01/1970 12/01/1970 13/01/1970 14/01/1970 15/01/1970 15/01/1970 8/05/1970 19/05/1970 22/06/1970 2/06/1970 4/06/1970 23/06/1970 17/07/1970 3/07/1970 5/07/1970 16/07/1970 31/07/1970 30/07/1970 7/08/1970 20/08/1970 19/08/1970 26/08/1970 7/08/1970 29/08/1970 11/09/1970 30/08/1970 30/08/1970 30/09/1970 25/10/1970	‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐65 ‐60 ‐67 ‐60 ‐45 ‐65 ‐65 ‐47 ‐55 ‐63 ‐47 ‐57 ‐62 ‐60 ‐70 ‐60 ‐65 ‐72 ‐70 ‐62 ‐55 ‐65 ‐72	359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 80.53 80.53 80.53 80.53 80.53 80.53 80.53 80.53 80.53 80.53 80.53 80.53 80.53 80.53 80.53 80.53 80.53 80.53 80.53 80.53 80.53 80.53 80.53

neometals.com.au

29 June 2021 – MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

Hole ID	Drill Type	East	North	RL	Depth	Company	Date	Dip	Azimuth
WD8166 WD8167 WD8168 WD8169 WD8172 WD8173 WD8174 WD8175 WD8176 WD8177 WD8178 WD8179 WD8180 WD8181 WD8182 WD8183 WD8184 WD8185 WD8186 WD8187 WD8189 WD8191 WD8192 WD8192W1 WD8199 WD9697 WD9698 WD9699 WD9700 WDA002 WDC019 WDC020 WDC021 WDC022 WDC023 WDC024 WDC025 WDC026 WDC027 WDC028 WDC034 WDC035 WDC036 WDC037 WDC038 WDC039	DD DD DD DD DD DD DD DD DD DD DD DD DD DD DD DD DD DD DD DD DD DD DD DD DD RC RC RC RC AC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC	358730.7 359581.63 358728.93 358670.13 358670.13 359251.63 358668.21 359250.09 359591.21 358795.92 359651.02 358800.43 358632.32 359571.24 358739.21 358607.18 359617.66 358918.6 359659.78 358948.97 359296.21 359549.17 359635.47 359635.47 359734.21 359391.91 359512.16 359304.33 359274.26 359238.87 359479.87 359529.47 359534.77 359638.07 359578.07 359297.37 359139.97 359176.87 359175.17 359162.87 359557.47 359613.97 359485.77 359535.57 359437.17 359595.47	6525308 6524677 6525555 6525421 6525421 6524489 6525545 6524489 6524617 6525319 6524689 6525628 6525478 6524737 6525495 6525226 6524568 6524394 6524628 6524395 6524626 6524795 6524748 6524748 6524701 6524630 6524650 6524785 6524780 6524385 6524675 6524676 6524615 6524637 6524837 6524438 6524398 6524477 6524517 6524558 6524577 6524598 6524640 6524638 6524681 6524679	323.89 318.09 323.89 323.89 323.89 321.14 323.89 325.06 317.29 323.89 317.17 323.89 324.88 317.22 324.89 322.04 319.43 321.7 317.23 321.59 320.9 318.09 316.96 316.96 316.48 320.67 318.73 319.37 323.39 326.99 321.25 319.52 319.21 317.42 317.54 325.08 322.6 323.33 322.57 322.55 323.17 322.41 322.49 322.84 322.99 321.83	423.1 175.25 327.66 50.29 457.2 19.81 403.55 155.75 161.85 354.18 273.1 224.02 487.67 177.38 360.88 545.59 140.21 73.15 217.02 479.14 110.94 153.62 248.41 84.43 364.24 32.92 36.58 56.69 47.55 23 90 140 162 250 230 160 232 220 202 220 80 200 110 150 80 200	INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO INCO Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan	17/09/1970 10/09/1970 5/10/1970 3/09/1970 30/09/1970 16/09/1970 12/10/1970 29/09/1970 1/10/1970 22/10/1970 15/10/1970 15/10/1970 12/11/1970 4/11/1970 6/11/1970 22/11/1970 10/11/1970 10/11/1970 9/12/1970 16/12/1970 23/11/1970 2/12/1970 14/12/1970 16/12/1970 1970‐71 2/08/1970 3/08/1970 3/08/1970 4/08/1970 27/01/2004 30/01/2003 31/01/2003 1/02/2003 3/02/2003 2/02/2003 12/02/2003 9/03/2003 8/03/2003 7/03/2003 6/03/2003 10/03/2003 11/03/2003 15/03/2003 14/03/2003 11/03/2003 13/03/2003	‐67 ‐52 ‐62 ‐67 ‐65 ‐49 ‐65 ‐49 ‐55 ‐60 ‐55 ‐57 ‐57.25 ‐50 ‐64 ‐70 ‐50 ‐70 ‐57 ‐65 ‐57 ‐50 ‐53 ‐53 ‐58 ‐90 ‐90 ‐90 ‐90 ‐90 ‐59.55 ‐60.88 ‐60.13 ‐60.5 ‐60.36 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60	80.53 260.53 80.53 80.53 80.53 80.53 80.53 80.53 260.53 80.53 260.53 80.53 80.53 260.53 80.53 80.53 260.53 80.53 260.53 80.53 80.53 260.53 260.53 260.53 260.53 359.53 359.53 359.53 359.53 0 266.84 267.6 274 273.65 273.42 90 90 90 90 90 270 270 270 270 270 270

neometals.com.au

29 June 2021 – MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

Hole ID	Drill Type	East	North	RL	Depth	Company	Date	Dip	Azimuth
WDC040 WDC041 WDC042 WDC043 WDC044 WDC045 WDC046 WDC047 WDC048 WDC049 WDC050 WDC051 WDC052 WDC053 WDC081 WDC082 WDC083 WDC084 WDC085 WDC086 WDC087 WDC088 WDC089 WDC090 WDC091 WDC092 WDC093 WDC094 WDC095 WDC096 WDC097 WDC107 WDC108 WDC109 WDC110 WDC111 WDC112 WDC113 WDC114 WDC115 WDC116 WDC117 WDC118 WDC133 WDC134 WDC135	RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC	359485.67 359299.67 359359.67 359340.27 359479.97 359459.37 359399.47 359337.77 359417.87 359277.27 359296.47 359322.67 359259.87 359178.57 359077.27 359137.36 359196.07 359076.16 359136.26 359196.06 359255.87 359196.87 359156.87 359176.87 359146.87 359276.87 359216.87 359176.87 359136.87 359216.87 359236.87 359450.87 359500.87 359500.87 359450.87 359238.87 359298.87 359259.87 359216.87 359337.87 359290.87 359241.87 359188.87 359286.87 359238.87 359187.87	6524721 6524600 6524699 6524638 6524557 6524478 6524440 6524441 6524482 6524481 6524521 6524676 6524599 6524597 6525476 6525477 6525475 6525677 6525677 6525676 6525476 6524597 6524597 6524637 6524637 6524677 6524677 6524677 6524517 6524477 6524397 6525100 6525100 6525000 6525000 6524677 6524716 6524716 6524716 6524756 6524757 6524756 6524757 6524856 6524855 6524856	322.29 323.7 323.3 323.2 322.3 323 324.9 324 323.5 324 325.6 324.5 323.6 324.3 320.8 321.8 320.9 323.5 322.4 324.63 322.3 324.84 325 324.81 324.98 326.72 324.91 325.33 325.64 326.8 326.82 319.29 319.39 320.3 324 325.23 326.98 326.92 325.35 325.5 326.56 326.4 325.5 325.68 326.14 325.71	100 120 120 120 50 66 80 120 80 163 120 100 160 240 172 150 150 150 150 150 150 192 212 220 208 138 180 200 219 192 200 140 120 120 168 160 120 160 198 100 120 150 180 120 150 116	Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan	12/03/2003 11/05/2003 12/05/2003 14/05/2003 15/05/2003 15/05/2003 15/05/2003 16/05/2003 21/05/2003 14/07/2004 22/05/2003 23/05/2003 25/05/2003 26/05/2003 24/06/2003 26/06/2003 27/06/2003 27/06/2003 29/06/2003 30/06/2003 3/07/2003 23/09/2003 25/09/2003 30/09/2003 2/10/2003 5/10/2003 6/10/2003 8/10/2003 11/10/2003 15/10/2003 17/10/2003 4/11/2003 4/11/2003 5/11/2003 5/11/2003 14/02/2004 15/02/2004 15/02/2004 16/02/2004 17/02/2004 18/02/2004 18/02/2004 23/02/2004 21/03/2004 22/03/2004 23/03/2004	‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐59.86 ‐60.31 ‐60.99 ‐60.41 ‐61.76 ‐59.22 ‐60 ‐60.67 ‐60.04 ‐60.45 ‐59.76 ‐60.42 ‐59.95 ‐60 ‐60.25 ‐60.81 ‐61.02 ‐60.43 ‐60.61 ‐60.37 ‐59.87 ‐60.24 ‐60 ‐60.99 ‐60	270 90 90 90 90 90 90 90 90 90 90 90 90 90 270 270 270 270 270 270 270 87.06 87.77 88.37 90.1 88.56 91.48 90 89.44 92.7 96.5 269.88 268.37 267.35 269.77 85.13 90.1 87.88 84.8 88.58 88.23 86.36 88.31 90 89.12 90

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29 June 2021 – MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

Hole ID	Drill Type	East	North	RL	Depth	Company	Date	Dip	Azimuth
WDC136 WDC137 WDC138 WDC139 WDC140 WDC141 WDC142 WDC143 WDC144 WDC179 WDC182 WDC183 WDC184 WDC185 WDC186 WDC192 WDC193 WDC194 WDC195 WDC196 WDC197 WDC198 WDC199 WDC200 WDC202 WDC203 WDC204 WDC205 WDC206 WDC207 WDC222 WDC223 WDC224 WDC239 WDD016 WDD019 WDD020 WDD021 WDD022 WDD029 WDD030 WDD031 WDD050 WDD051 WDD053 WDD054	RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC DD DD DD DD DD DD DD DD DD DD DD DD	359139.87 359290.87 359241.87 359186.87 359136.87 359090.87 359085.87 359140.87 359147.87 359208.87 359231.87 359246.87 359449.87 359517.87 358843.86 359488.87 359334.87 359386.87 359336.87 359388.87 359237.87 359289.87 359338.87 359387.87 359287.87 359337.87 359387.87 359316.87 359265.86 359322.86 359624.87 359686.87 359738.37 359387 359220.77 359556.57 359676.57 359588.07 359637.87 359116.87 359196.87 359156.87 359136.87 359158.87 359114.87 359190.87	6524856 6524951 6524952 6524953 6524953 6524954 6524857 6524714 6524476 6524400 6524597 6524637 6524863 6524861 6525656 6524856 6525000 6524998 6525100 6525100 6525197 6525197 6525198 6525198 6525297 6525297 6525297 6525474 6525679 6525677 6524454 6524456 6524462 6525037 6524559 6524629 6524648 6524740 6524738 6524554 6524636 6524676 6524676 6524539 6524395 6524485	324.23 326.27 327.54 325.4 324.75 325.81 324.09 325.16 325.3 321 320 320 319 316.5 321.5 318 319.5 316 318 318 319 318.5 317.5 317.5 318 318.5 317.5 319.5 318.5 317 322 320.4 319.1 320 324 319.3 319.7 318.5 318.6 320 320 320 321 321 322 323	156 54 120 130 162 200 198 210 252 208 170 150 102 150 175 150 100 140 180 220 84 120 200 258 100 216 258 300 170 216 120 150 210 180 200 180.7 354.7 219.7 321.6 237.7 177.7 201.8 202 220 202 150	Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan Titan	23/03/2004 24/03/2004 25/03/2004 28/03/2004 29/03/2004 2/04/2004 3/04/2004 6/04/2004 8/04/2004 13/06/2004 18/06/2004 19/06/2004 21/06/2004 22/06/2004 25/06/2004 20/07/2004 21/07/2004 22/07/2004 23/07/2004 25/07/2004 26/07/2004 27/07/2004 28/07/2004 30/07/2004 4/08/2004 1/08/2004 3/08/2004 8/08/2004 8/08/2004 12/08/2004 12/10/2004 13/10/2004 15/10/2004 24/03/2005 12/05/2003 17/05/2003 19/05/2003 21/05/2003 23/05/2003 14/03/2004 16/03/2004 18/03/2004 5/05/2004 7/05/2004 14/06/2004 16/06/2004	‐59.74 ‐59.99 ‐60.83 ‐60.37 ‐61.31 ‐60 ‐61.19 ‐61.1 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐50 ‐50 ‐49.61 ‐51.07 ‐51.07 ‐59.5 ‐60.84 ‐60.36 ‐60.5 ‐61.01 ‐60.39 ‐60.62 ‐60.54 ‐60.63 ‐60 ‐60 ‐60 ‐60	86.96 89.49 85.97 89.86 84.64 90 88.27 89.71 90 90 90 98.9 270 270 90 270 270 270 270 270 270 270 270 270 270 270 270 270 270 270 269.44 268.2 271.74 266.29 87.88 272.4 269.13 270 272.2 88.28 88.52 88.69 90 90 90 90

neometals.com.au

29 June 2021 – MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

Hole ID	Drill Type	East	North	RL	Depth	Company	Date	Dip	Azimuth
WDD055 WDD056 WDD057 WDD058 WDD059 WID1307 WID1308 WID1394 WID1396 WID1398 WID1400 WID1478 WID1479 WID1480 WID1481 WID1482 WID1544 WID1545 WID1546 WID1547 WID1548 WID1549 WID1550 WID1551 WID1552 WID1553 WID1554 WID1555 WID1556 WID1578 WID1579 WID1580 WID1581 WID1582 WID1583 WID1584 WID1585 WID1586 WID1587 WID1588 WID1589 WID1592 WID1592A WID1718 WID1721	DD DD DD DD DD DD DD AC AC AC AC DD DD DD DD DD RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC DD DD DD DD	359185.87 359182.87 359138.87 359201.87 359117.87 359233.5 358848.78 359075.3 359111.07 359187.63 359259.34 358708.02 358706.33 358707.01 358725.84 358704.84 359343.34 359365.42 359384.76 359405.04 359423.64 359344.5 359367.58 359386.72 359407.48 359425.5 359450.52 359466.76 359485.22 359050.84 359030.48 359010.33 359024.64 359003.64 358984.76 359018.92 358999.74 358981.92 359012.43 358989.48 358972.04 359675.76 359675.54 359835.19 358849.83	6524500 6524542 6524598 6524678 6524677 6524720 6525706 6525719 6525624 6525435 6525225 6525102 6525102 6525036 6525163 6525036 6524488 6524490 6524491 6524491 6524492 6524540 6524543 6524541 6524546 6524544 6524541 6524539 6524535 6525489 6525488 6525488 6525538 6525538 6525538 6525588 6525587 6525587 6525639 6525639 6525639 6524512 6524511 6524505 6525708	323.5 322.5 320.5 321 320 325.45 321.31 325.92 326.49 325.77 323.73 321.53 321.5 321.82 321.34 321.78 323.76 323.33 323.32 323 322.75 323.34 323.3 322.9 322.99 323.09 322.48 322.08 321.72 319.99 320.24 320.08 319.8 319.99 320.21 320.24 320.31 320.25 320.28 320.39 320.66 317.45 317.58 322.89 321.48	235 225.5 225.7 180.2 231.3 200 235 36 39 53 31 471 524.2 500.5 468 438.1 86 90 82 88 82 82 70 82 82 64 74 82 82 70 82 89 64 78 78 60 78 100 60 80 86 66 234 396 205	Titan Titan Titan Titan Titan WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC	17/07/2004 22/07/2004 25/07/2004 27/07/2004 30/07/2004 1989‐90 1989‐90 1989‐90 1989‐90 1989‐90 1989‐90 ~1989 ~1989 ~1989 ~1989 ~1989 1989‐90 1989‐90 1989‐90 1989‐90 1989‐90 1989‐90 1989‐90 1989‐90 1989‐90 1989‐90 1989‐90 1989‐90 1989‐90 1989‐90 1989‐90 1989‐90 1989‐90 1989‐90 1989‐90 1989‐90 1989‐90 1989‐90 1989‐90 1989‐90 1989‐90 1989‐90 1989‐90 1989‐90 ~1990	‐60 ‐60 ‐60 ‐60 ‐60 ‐65.3 ‐80.7 ‐90 ‐90 ‐90 ‐90 ‐50 ‐70.2 ‐65.2 ‐65.8 ‐45.9 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐60 ‐70 ‐70.8 ‐61 ‐60	90 90 90 90 90 86.53 89.53 359.53 359.53 359.53 359.53 89.53 85.53 95.53 73.53 83.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 89.53 89.53 89.53 89.53 89.53 89.53 89.53 89.53 89.53 89.53 89.53 89.53 89.53 260.53 254.53 78.53
WID1722	DD	358928.57	6524987	320.47	317	WMC	1989‐90	‐60	89.53

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29 June 2021 – MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

Hole ID	Drill Type	East	North	RL	Depth	Company	Date	Dip	Azimuth
WID1723 WID1724 WID1730 WID1731 WID1732 WID1957 WID496 WID497 WID498 WID499 WID500 WID501 WID705 WID706 WID707 WID708 WID709 WID710 WID711 WID712 WID713 WID725 WID726	RC DD RC RC RC DD RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC RC	358864.92 358800.26 358923.86 358903.35 358884.21 358732.27 359754.94 359739.91 359724.87 359694.81 359709.84 359702.33 359644.78 359629.75 359614.72 359599.68 359734.97 359554.59 359674.84 359659.81 359667.33 359524.52 359494.46	6524987 6524982 6525738 6525738 6525737 6525783 6524304 6524302 6524299 6524294 6524297 6524295 6524409 6524407 6524404 6524402 6524424 6524394 6524414 6524412 6524413 6524389 6524384	320.61 321.2 320.97 321.07 321.07 322.56 317.36 317.53 317.7 318.02 317.86 317.94 317.75 317.84 317.97 318.24 317.24 319.11 317.59 317.67 317.63 319.43 319.7	84 427 80 92 96 313.25 56 50 24 24 28 22 14 7 7 6 10 10 34 12 28 8 6	WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC WMC	~1990 1989‐90 1989‐90 1989‐90 1989‐90 ~1991 ~1980 ~1980 ~1980 ~1980 ~1980 ~1980 ~1980 ~1980 ~1980 ~1980 ~1980 ~1980 ~1980 ~1980 ~1980 11/10/1980 11/10/1980	‐60 ‐60.5 ‐60 ‐60 ‐60 ‐70 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90 ‐90	89.53 79.53 89.53 89.53 89.53 89.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53 359.53

All coordinates are in MGA94_51S

APPENDIX 3: Significant and Mineralised Nickel Drill Intersections at McEwen and McEwen Hangingwall

This is a table of all drilling intersections within the six modelled domains, four at McEwen and two at McEwen Hangingwall. Due to the nature of the deposit not all have mineralisation. Where there is no value shown, the element was not assayed. Low grade intersections have been included where continuity of the mineralised shape necessitated it.

Hole ID	From	To	Width	Domain	Ni %	Asppm	Coppm	Cuppm	Fe₂O₃ %	MgO %	Sppm
WD4145 WD5304 WD5310 WD5312 WD5315 WD5321 WD5325 WD5329 WD5341 WD5342 WD5343 WD5803 WD5804	205.44 181.66 208.91 275.84 77.72 300.53 233.17 77.72 326.14 358.75 174.04 323.21 180.29	209.09 197.39 213.60 287.18 81.78 304.14 239.88 85.34 335.13 363.63 182.27 324.70 184.32	3.65 15.73 4.69 11.34 4.06 3.61 6.71 7.62 8.99 4.88 8.23 1.49 4.04	1 1 1 1 1 1 1 1 1 1 1 1 1	1.00 1.00 0.91 1.11 1.10 0.38 2.22 1.36 0.55 0.59 1.69 2.97 0.04			0.06 0.05 0.21 0.06 0.05 0.02 0.22 0.07 0.03 0.04 0.14 0.12 0.01

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29 June 2021 – MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

Hole ID	From	To	Width	Domain	Ni %	Asppm	Coppm	Cuppm	Fe₂O₃ %	MgO %	Sppm
WD5813 WD5819 WD5821 WD5824 WD5826 WD5830 WD5832 WD8130 WD8137W1 WD8138 WD8143 WD8148 WD8150 WD8156 WD8159 WD8160 WD8162 WD8163 WD8164 WD8165 WD8166 WD8168 WD8172 WD8174 WD8177 WD8179 WD8180 WD8182 WD8183 WID1478 WID1479 WID1480 WID1481 WID1482 WID1724 WD4111 WD4128 WD4135 WD4141 WD5304 WD5310 WD5312 WD5813 WD8143 WD8150 WD8163	98.76 288.74 249.63 309.07 86.87 463.88 143.84 380.09 367.89 82.45 188.06 110.83 158.65 174.65 366.06 477.96 251.76 160.93 381.76 506.94 332.23 231.65 354.54 312.69 260.20 125.12 353.97 275.94 468.42 369.00 448.00 423.00 394.00 354.50 298.40 119.91 140.82 101.50 124.36 149.41 152.90 242.93 72.24 145.39 105.02 125.58	102.41 293.03 253.90 312.42 89.92 465.34 148.74 382.83 377.19 88.54 200.86 113.90 161.54 179.83 371.86 481.43 274.26 163.22 383.44 508.19 334.64 238.81 367.59 315.16 265.33 127.04 355.52 279.01 471.74 372.50 450.50 432.00 396.40 359.50 299.65 129.49 145.69 103.58 133.65 151.18 155.92 245.18 75.29 150.88 107.49 128.02	3.65 4.29 4.27 3.35 3.05 1.46 4.90 2.74 9.30 6.09 12.80 3.07 2.89 5.18 5.80 3.47 22.50 2.29 1.68 1.25 2.41 7.16 13.05 2.47 5.13 1.92 1.55 3.07 3.32 3.50 2.50 9.00 2.40 5.00 1.25 9.58 4.87 2.08 9.29 1.77 3.01 2.25 3.05 5.49 2.47 2.44	1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 2 2 2 2 2 2 2	1.07 3.64 0.58 1.01 1.71 2.07 0.85 3.86 2.53 1.09 0.51 1.17 0.42 0.86 1.15 1.03 0.77 1.23 2.34 1.64 1.68 0.98 0.74 1.03 0.99 0.94 0.12 0.62 0.81 0.26 0.98 1.22 1.44 1.64 1.10 0.52 1.17 0.27 0.85 1.62 0.22 1.09 0.84 0.89 0.18 0.95	757.16 1014.56 397.22 943.27 482.60 5751.21	115.71 238.77 263.77 227.46 373.40 225.20	0.07 0.29 0.04 0.08 0.11 0.21 0.06 0.30 0.21 0.07 0.04 0.08 0.02 0.05 0.08 0.08 0.06 0.12 0.16 0.10 0.12 0.07 0.05 0.06 0.07 0.03 0.04 0.05 0.05 0.01 0.08 0.08 0.09 0.12 0.04 0.03 0.12 0.03 0.05 0.22 0.02 0.21 0.05 0.12 0.01 0.14

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29 June 2021 – MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

Hole ID	From	To	Width	Domain	Ni %	Asppm	Coppm	Cuppm	Fe₂O₃ %	MgO %	Sppm
WD8168 WD4118 WD4124 WD4130 WD4132 WD4140 WD4144 WD5313 WD5318 WD5328 WD5330 WD5337 WD5344 WD5810 WD5818 WD5822 WD5825 WD8126 WD8133 WD8142 WD8149 WD8152 WD8175 WD8187 WD8189 WDC024 WDC026 WDC027 WDC028 WDC041 WDC047 WDC049 WDC050 WDC052 WDC053 WDC088 WDC089 WDC090 WDC095 WDC096 WDC144 WDC182 WDC183 WDD016 WDD029	197.51 96.90 133.05 132.63 145.69 179.53 160.54 217.78 273.59 279.96 256.64 375.51 345.36 252.98 202.35 66.14 469.43 394.11 146.00 151.76 208.76 282.49 123.44 428.82 87.31 112.00 180.00 175.00 177.84 92.00 80.00 110.00 99.00 118.00 166.00 157.00 180.14 164.00 203.30 150.00 202.00 123.00 118.00 147.65 229.00	198.79 100.34 136.70 135.07 153.62 181.36 163.56 221.74 277.06 285.60 267.00 378.56 349.52 263.65 211.41 71.32 472.44 403.86 147.07 154.72 212.05 285.89 130.70 432.18 89.76 114.80 182.00 177.00 183.00 95.00 83.00 116.00 103.00 122.00 172.00 160.00 184.00 167.00 205.00 155.00 206.00 126.04 120.00 150.10 232.00	1.28 3.44 3.65 2.44 7.93 1.83 3.02 3.96 3.47 5.64 10.36 3.05 4.16 10.67 9.06 5.18 3.01 9.75 1.07 2.96 3.29 3.40 7.26 3.36 2.45 2.80 2.00 2.00 5.16 3.00 3.00 6.00 4.00 4.00 6.00 3.00 3.87 3.00 1.70 5.00 4.00 3.04 2.00 2.45 3.00	2 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3	8.32 1.71 1.58 0.30 0.97 1.00 1.53 1.95 1.33 0.27 1.40 2.17 0.95 0.22 0.16 1.19 0.93 0.33 0.76 1.30 3.56 0.19 0.99 0.75 0.47 1.21 0.75 1.74 2.36 0.93 1.51 0.92 1.10 0.57 3.06 2.01 2.74 4.64 1.92 1.20 1.64 1.35 1.49 0.22 0.48	19.44 30.50 18.00 134.26 16.04 106.33 6.00 141.00 3.50 1126.44 6460.00 329.92 8423.33 4316.56 8.20 19.75 563.44 119.49 402.87 2776.18	339.76 284.48 545.00 651.01 361.65 453.67 304.50 382.23 210.50 890.32 528.67 790.00 1602.33 772.88 399.99 495.25 409.30 397.47 104.18 229.66	0.90 0.23 0.16 0.02 0.06 0.12 0.41 0.26 0.16 0.02 0.13 0.27 0.10 0.01 0.02 0.13 0.10 0.02 0.17 0.13 0.57 0.02 0.12 0.15 0.04 0.13 0.09 0.23 0.28 0.12 0.18 0.12 0.16 0.08 0.49 0.16 0.41 0.60 0.08 0.11 0.19 0.16 0.22 0.02 0.04	14.02 14.10 19.70 25.88 16.24 15.36 13.94 16.19 20.61 30.67 23.04 31.02 51.73 28.10 16.48 20.82 16.52 28.00 9.23 9.88	29.93 27.31 26.03 18.96 26.97 18.26 24.51 20.48 21.29 16.74 9.67 18.20 5.09 11.05 32.51 23.19 21.76 13.76 23.39 17.45	37,397.47 24,398.10 56,400.00 67,050.23 43,530.16 45,866.67 37,250.00 46,372.68 50,375.00 110,563.44 75,366.67 120,082.35 198,700.00 81,371.76 44,739.01 66,025.00 52,788.66 89,691.30 7,234.75 13,232.32

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29 June 2021 – MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

Hole ID	From	To	Width	Domain	Ni %	Asppm	Coppm	Cuppm	Fe₂O₃ %	MgO %	Sppm
WDD030	147.01	148.00	1.00	3	1.37	622.04	522.32	0.08	31.74	9.33	115,388.30
WDD051 WDD055 WDD056 WDD057 WID1545 WD4132 WD4140 WD8142 WDC026 WDC096 WD4149 WD4978 WD5119 WD5302 WD5323 WD5493 WD5494 WD5820 WD6513 WD6519 WD8016 WD8020 WD9697 WDC051 WID1546 WID1547 WID1548 WID1550 WID1551 WID1552 WID1553 WID1554 WD10709 WD10714 WD10728 WD10731 WD6262 WD6292 WD8167 WD8176 WD8178 WD8181 WD8192	183.65 171.00 161.00 191.40 68.47 171.18 199.49 175.87 201.00 177.32 58.98 42.67 33.53 45.72 61.26 27.45 35.05 57.91 22.86 41.64 33.53 21.34 23.87 64.00 47.00 39.00 33.00 46.12 44.97 36.00 36.00 26.00 343.20 289.01 295.20 193.55 45.38 53.34 109.06 115.28 202.39 130.45 202.08	189.30 177.00 170.00 194.00 72.35 173.77 201.29 178.67 203.00 178.92 65.08 47.24 36.58 55.57 69.80 30.48 38.10 63.40 33.53 42.65 39.62 24.38 32.92 66.00 50.90 45.00 35.00 50.00 57.10 50.00 40.00 29.91 351.04 294.89 302.67 201.17 49.78 73.15 125.36 129.33 225.55 141.43 210.62	5.65 6.00 9.00 2.60 3.89 2.59 1.80 2.80 2.00 1.59 6.10 4.57 3.05 9.85 8.54 3.03 3.05 5.49 10.67 1.00 6.09 3.04 9.05 2.00 3.90 6.00 2.00 3.88 12.13 14.00 4.00 3.91 7.84 5.88 7.47 7.62 4.41 19.81 16.30 14.05 23.16 10.98 8.54	3 3 3 3 3 4 4 4 4 4 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 5 6 6 6 6 6 6 6 6 6 6 6	1.79 1.36 0.87 2.59 0.17 0.88 0.67 2.12 1.22 0.02 1.78 1.36 0.83 0.92 1.35 0.42 0.92 0.46 1.29 0.31 0.80 1.08 0.77 1.99 1.20 1.16 0.68 1.01 1.01 0.96 0.80 1.14 1.15 0.92 1.23 0.46 0.25 0.32 1.24 0.72 1.21 0.68 1.08	29.63 15.50 11.62 924.94 100.00 2354.96 14.11 230.46 100.00 449.99 149.99 148.46	554.01 469.02 340.82 663.75 117.32 335.96 51.59 761.89 342.30 371.66 175.01 364.85 320.41 312.85 289.99 508.05	0.19 0.15 0.10 0.31 0.02 0.06 0.11 0.21 0.12 0.01 0.22 0.18 0.08 0.16 0.18 0.02 0.18 0.04 0.17 0.03 0.15 0.10 0.06 0.25 0.15 0.17 0.03 0.18 0.13 0.12 0.09 0.14 0.15 0.14 0.10 0.02 0.02 0.02 0.13 0.10 0.17 0.05 0.14	21.72 19.66 20.20 29.38 15.19 10.06 27.00	20.88 28.05 23.46 15.05 18.44 7.26 11.73	76,334.32 52,191.30 48,392.43 97,931.45 30,797.24 1,961.12 100,835.41

neometals.com.au

29 June 2021 – MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

Hole ID	From	To	Width	Domain	Ni %	Asppm	Coppm	Cuppm	Fe₂O₃ %	MgO %	Sppm
WD8199	311.20	317.36	6.16	6	2.06			0.25
WDC020 WDC021 WDC022 WDC022 WDC035 WDC037 WDC039 WDD019 WDD020 WDD021 WDD022	70.00 51.84 187.00 188.34 160.00 59.00 141.00 98.70 255.00 165.00 265.00	88.00 55.05 188.29 195.00 164.00 68.00 155.00 105.90 268.00 170.00 270.00	18.00 3.21 1.29 6.66 4.00 9.00 14.00 7.20 13.00 5.00 5.00	6 6 6 6 6 6 6 6 6 6 6	1.31 0.08 1.16 1.20 0.50 0.94 1.29 0.34 1.21 0.55 1.20	8.45 59.84 9.45 9.50 1.00 3.22 12.14 50.28 10.92 6.00 2.80	391.72 77.89 395.21 415.76 272.00 338.55 412.71 136.89 422.54 204.60 433.39	0.14 0.00 0.13 0.15 0.08 0.12 0.16 0.06 0.18 0.06 0.16	15.36 9.74 16.01 17.63 18.33 15.58 18.50 11.79 17.99 12.65 20.41	27.01 18.60 28.01 24.48 19.01 25.60 27.56 22.49 32.12 36.04 26.38	37,055.51 474.91 39,898.35 49,182.32 52,500.00 27,688.59 45,814.29 22,208.34 40,753.39 9,440.00 63,897.87

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NEOMETALS LTD Regulatory Filings 2021

65430_rns_2021-06-28_588a5c02-e69c-4a3e-af26-00d77f763cf6.pdf

MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

HIGHLIGHTS

Background

Mineral Resource Estimation

Location

Geology and Geological Interpretation

Nickel Mineralisation

Modelling

Mineral Resource Classification

Drilling Techniques and Details

QAQC

Bulk Density

Variography

Grade Estimation

Top Cuts

Model Validation

Audits or reviews

Previous Mineral Resource Estimates

Mining and Metallurgical Considerations

Site Visit

Future Work

Competent Person Attribution

Compliance Statement

Authorised on behalf of Neometals by Christopher Reed, Managing Director.

ENDS

About Neometals Ltd

Recycling and Resource Recovery:

APPENDIX 1: Table 1 as per the JORC Code Guidelines (2012)

Section 1 Sampling Techniques and Data

APPENDIX 2: Drill holes used in the McEwen & McEwen HW estimates

APPENDIX 3: Significant and Mineralised Nickel Drill Intersections at McEwen and McEwen Hangingwall

AI assistant

NEOMETALS LTD — Regulatory Filings 2021

65430_rns_2021-06-28_588a5c02-e69c-4a3e-af26-00d77f763cf6.pdf

MCEWEN RESOURCES AT MT EDWARDS INCREASE 45% TO 41.5Kt CONTAINED NICKEL

HIGHLIGHTS

Background

Mineral Resource Estimation

Location

Geology and Geological Interpretation

Nickel Mineralisation

Modelling

Mineral Resource Classification

Drilling Techniques and Details

QAQC

Bulk Density

Variography

Grade Estimation

Top Cuts

Model Validation

Audits or reviews

Previous Mineral Resource Estimates

Mining and Metallurgical Considerations

Site Visit

Future Work

Competent Person Attribution

Compliance Statement

Authorised on behalf of Neometals by Christopher Reed, Managing Director.

ENDS

About Neometals Ltd

Recycling and Resource Recovery:

APPENDIX 1: Table 1 as per the JORC Code Guidelines (2012)

Section 1 Sampling Techniques and Data

APPENDIX 2: Drill holes used in the McEwen & McEwen HW estimates

APPENDIX 3: Significant and Mineralised Nickel Drill Intersections at McEwen and McEwen Hangingwall

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NEOMETALS LTD Regulatory Filings 2021