ODYSSEY GOLD LTD — Capital/Financing Update 2021

Jun 2, 2021

ASX ANNOUNCEMENT

3 June 2021

HIGH-GRADE DRILLING RESULTS FROM BOTTLE DUMP DEPOSIT

Odyssey Gold Limited (ASX:ODY) (“Odyssey” or “Company”) is pleased to announce high-grade drilling results from the Bottle Dump deposit, in the Murchison Goldfields, Western Australia.

HIGHLIGHTS

Further assays confirm high-grade gold mineralisation at Bottle Dump

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• Further significant mineralisation has been intersected in the eastern extension of Bottle Dump , with additional assays received confirming high-grade gold mineralisation.

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• New intercepts include:

• 24m @ 4.5g/t Au from 179m in TKRC0022 including 4m @ 17.1 g/t Au ; located 40m down-dip from

• 8m @ 8.3g/t Au from 156m in TKRC0021 including 4m @ 15.5 g/t Au

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• These intercepts are interpreted to be related to the same contact position as the recently identified exceptional visible gold in TCKDD0003 (approximately 120m to the east-southeast).

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Figure 1. Long-section of the Bottle Dump pit showing the open mineralisation and extensions.

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• The Bottle Dump system remains open along trend and down-dip with 1,000m of prospective trend open to the east from TCKDD0003.

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• Easternmost drilled reverse circulation (“RC”) hole (TCKRC0035 – assays pending ) intersected the Bottle Dump Mine meta-sedimentary sequence, over 800m from the Bottle Dump pit

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• Down hole electromagnetic (“DHEM”) survey crews scheduled to be mobilised at Bottle Dump next week to test for depth extensions to current mineralisation.

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• Multiple further assays are pending and planning for the next phase of drilling is well advanced with re-mobilisation in coming weeks.

Executive Director, Matt Syme commented:

“This is a very positive outcome as we continue to encounter high-grade gold mineralisation at Bottle Dump. Odyssey Gold has in a very short time since listing repeatedly confirmed the potential for highgrade mineralisation at the Tuckanarra and Stakewell Projects and the recent successful placement now provides us with sufficient funding to expedite and expand our exploration programs.”

For further information, please contact:

Matt Syme

Executive Director Tel: +61 8 9322 6322

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TUCKANARRA – BOTTLE DUMP DRILLING

The Company has completed 30 RC drill holes at Bottle Dump for a total of 5,894m with an average depth of 196m, followed by three diamond holes totalling 925m. Of the 30 RC holes drilled, all but two intersected the Bottle Dump Mine meta-sedimentary sequence (colloquially referred to as the “Bottle Dump Mine BIF”) unit and encountered strong pyrrhotite enrichment (from 2% to 50%). Previously elevated pyrrhotite occurrence (typically > 2% pyrrhotite) were generally associated with elevated gold grades.

Significant mineralisation has been intersected in the eastern extension of Bottle Dump, with new assays confirming high-grade gold mineralisation. These intercepts are interpreted to be related to the same contact position as the recent exceptional visible gold in TCKDD0003, approximately 120m to the east-southeast. The Bottle Dump system is interpreted to be open along trend and down-dip; with 1,000m of prospective trend open to the east from TCKDD0003. New intercepts include:

• 24m @ 4.5g/t Au (TCKRC0022 from 179m) including 4m @ 17.1 g/t Au ;

• 8m @ 8.3g/t Au (TCKRC0021 from 156m) including 4m @ 15.5 g/t Au ; and

• 5m @ 4.1g/t Au (TCKRC0024 from 122m)

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Figure 2. Cross-section from Bottle Dump showing the high-grade intercepts in TCKRC00021 & 22

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Odyssey is planning future drilling to continue to target the eastern and depth extensions of the Bottle Dump Mine BIF as well as potential parallel lodes and structures.

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Figure 3. Planned and previous drill holes across the Bottle Dump area.

The eastern most hole in this drilling campaign, TCKRC0035, is interpreted to have intersected the Bottle Dump Mine BIF approximately 800m east of the Bottle Dump pit. Assays are pending for this hole, however a historical shallow hole in the vicinity, returned 8m @ 3.5g/t Au.

Refer to Appendix 1 for all new assay results and one metre re-splits from previously announced four metre composites.

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NEXT STEPS

Drilling activities are planned to re-commence in coming weeks to allow time for collation and interpretation of all drill assay results and for the completion of a number of field exploration programs. The Company’s strong cash position as a result of the recent placement will allow the Company to expedite exploration activities.

The Company’s exploration plans going forward will focus on:

• Detailed ground magnetics over the Bottle Dump trend and the newly discovered Blue Gino prospect at Stakewell.

• DHEM survey program to commence in coming weeks

• Ongoing mapping, soils and geophysics over priority target areas, including areas previously unexplored due to shallow cover.

• Continued modelling of the developing Bottle Dump Mine BIF unit.

• Development of new target regions over the combined tenement areas.

• A second RC and diamond drilling campaign, with targets generated from the above programs as well as results from the initial drilling program.

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APPENDIX 1 - DRILL INTERCEPT TABLE

				RL	Dip	Az	EOH Depth	From	Length	Au
Hole ID	Type	East	North
				(m)	(o)	(o)	(m)	(m)	(m)	(g/t)
TCKRC0021	RC	611683	6999839	534	-56.39	15.2	200	156	8	8.27
							including	156	4	15.50
TCKRC0022	RC	611677	6999826	534	-61.25	19.1	240	179	24	4.54
							including	195	4	17.12
TCKRC0024	RC	611483	6999946	518	-60.52	19.5	161	122	5	4.13
TCKRC0025	RC	611473	6999915	518	-59.93	19.2	191	165	2	0.40
TCKRC0026	RC	611454	6999969	517	-60.42	20.7	149	143	1	0.54
TCKRC0027	RC	611443	6999948	518	-60.78	17.3	179	_No significant assays _
TCKRC0028	RC	611630	6999817	529.2	-60.63	22.0	159	Awaiting results
TCKRC0029	RC	611352	6999987	517	-60.78	21.6	233	Awaiting results
TCKRC0030	RC	608898	7001314	496	-59.04	285.5	167	Awaiting results
TCKRC0031	RC	608742	7001778	489	-60.18	105.1	59	Awaiting results
TCKRC0032	RC	608881	7001521	492	-60.95	281.6	95	Awaiting results
TCKRC0033	RC	608788	7001763	491	-58.28	100.0	59	Awaiting results
TCKRC0034	RC	611798	6999824	520	-60.21	14.3	223	Awaiting results
TCKRC0035	RC	612415	6999644	526	-59.6	12.4	125	Awaiting results
TCKRC0036	RC	608891	7001355	492	-59.27	278.5	143	Awaiting results
TCKRCD0023	RCD	611592	6999840	524.8	-59.99	20.3	324.2	Awaiting results
One metre re-Splits ofpreviously reported				holes
TCKRC0002	RC	611597	6999914	523	-61.61	22.2	150	132	5	1.80
							including	142	4	0.59
							and	152	6	1.60
TCKRC0003A		611580		523	-60.16	523.2	226	156	15	0.72
TCKRC0004		611617		525	-61.17	525.4	148	99	17	2.12
							including	100	6	4.48
TCKRC0005		611609		524	-60.34	524.6	251	132	10	1.09

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COMPETENT PERSONS STATEMENT

The information in this announcement that relates to exploration results is based on information reviewed by Mr Neil Inwood of Sigma Resources Consulting, who is a consultant to Odyssey Gold Limited and is an accurate representation of the available data and information available relating to the reported historical exploration results. Mr Inwood is a Fellow of the Australian Institute of Mining and Metallurgy and is a holder of incentive options and shares in Odyssey Gold Limited. Mr Inwood has sufficient experience that is relevant to the styles of mineralisation and types of deposit under consideration, and to the activity being undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (JORC Code). Based on the available information relating to the historical exploration results reported in this announcement, Mr Inwood consents to the inclusion in the announcement of the matters based on his information in the form and context in which it appears.

The information in this announcement that relates to historical exploration results are extracted from the Company’s ASX announcements dated 4 September 2020, 22 October 2020, 14 January 2021, 3 February 2021, 9 February 2021, 19 April 2021, 4 May 2021, 19 May 2021 and 26 May 2021. These announcements are available to view on the Company’s website at www.odysseygold.com.au. 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, in the case of estimates of Mineral Resources, Exploration Target or Ore Reserves that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements; and that the information in the announcement relating to exploration results is based upon, and fairly represents the information and supporting documentation prepared by the named Competent Persons.

FORWARD LOOKING STATEMENTS

Statements regarding plans with respect to Odyssey’s project are forward-looking statements. There can be no assurance that the Company’s plans for development of its projects will proceed as currently expected. These forward-looking statements are based on the Company’s expectations and beliefs concerning future events. Forward looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of the Company, which could cause actual results to differ materially from such statements. The Company makes no undertaking to subsequently update or revise the forward-looking statements made in this announcement, to reflect the circumstances or events after the date of that announcement.

This ASX Announcement has been approved in accordance with the Company’s published continuous disclosure policy and authorised for release by the Company’s Executive Director.

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APPENDIX 2 - JORC Code, 2012 Edition – Table 1

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

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.	Sampling methods used for samples in this release were: 4m composites and 1m spear samples - Reverse Circulation (RC) drilling and Diamond Core was cut in half to produce a ½ core samples using a core saw - DDH. All sampling was either supervised by, or undertaken by, qualified geologists. 4m RC composite samples were submitted to Intertek Laboratory Perth where the entire sample was crushed, a 300g split was pulverised and 25g charge assayed by aqua regia with standard ICP-MS finish. 1m RC samples were submitted Intertek Laboratory Perth where the entire sample was crushed, a 300g split was pulverised and 50g charge fire assay / ICP-OES. ½ core samples were assayed at Intertek Perth where the entire sample was crushed, a 300g split was pulverised and 50g charge fire assay / ICP-OES.
	Include reference to measures taken to ensure sample representation and the appropriate calibration of any measurement tools or systems used.	The collar locations of the drill holes were surveyed using a handheld GPS Sampling was carried out under the ODY protocols and QAQC. See further details below.
	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.	The RC samples were collected by spear at 1m intervals and combined into 4m composites. 1m RC samples were selected for assaying based on geological logging of chips and presence of sulphide mineralization and quartz veining. Not all core is assayed. Half-core samples are selected based on geological criteria (presence of quartz veining, sulphide mineralisation).
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).	RC drilling has been undertaken by Strike Drilling. NQ-sized (47.6 mm diameter) core drilling has been completed by Terra Drilling. Downhole surveys for both RC and DDH drilling are recorded using a True North seeking GYRO survey tool.
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed.	The majority of samples were understood to be dry. Ground water ingress occurred in some holes at rod change but overall, the holes were kept dry. Typically, drilling operators ensured water was lifted from the face of the hole at each rod change to ensure water did not interfere with drilling and to make sure samples were collected dry. Drill hole recoveries were recorded during logging by measuring the length of core recovered per 1m interval or the weight of RC chips recovered.
	Measures taken to maximise sample recovery and ensure representative nature of the samples.	Drilling is carried out orthogonal to the mineralization to get representative samples of the mineralization.
	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.	No relationship between recovery and grade has been identified to date in the data review stage.
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.	All drill core and RC chips are logged onsite by geologists to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.

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Criteria	JORC Code explanation	Commentary
	Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.	Logging is qualitative and records lithology, grain size, texture, weathering, structure, alteration, veining and sulphides. Core and chips are digitally photographed.
	The total length and percentage of the relevant intersections logged	All holes are logged in full.
Sub- sampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken.	Core is cut using a diamond saw and 1m lengths of ½ core is submitted for assaying.
	If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.	RC samples were collected by spear from 1m -sample bags and submitted as 1m samples or combined into 4m composite samples.
	For all sample types, the nature, quality and appropriateness of the sample preparation technique.	Core sample preparation at Intertek Laboratory consists of crushing entire ½ core samples (up to 3kg) to 80% passing -10 mesh, splitting 300 grams, and pulverizing to 95% passing -150 mesh. The 300g pulp is then assayed. RC samples follow a similar sample preparation at the laboratory. The sample preparation procedures carried out are considered acceptable. All coarse and pulp rejects are retained on site
	Quality control procedures adopted for all sub- sampling stages to maximise representation of samples.	All half core samples are selected from the same side to remove sample bias. RC samples were collected by spear from 1m sample bags and 4m composites were made from approximately equal samples from each 1m interval.
	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.	The technique to collect the 1m samples was via a rig mounted riffle splitter. Field duplicate samples from the 4m composites and 1m RC samples were submitted to the laboratory at the rate of 1 sample in 50 samples.
	Whether sample sizes are appropriate to the grain size of the material being sampled.	Sample sizes are considered appropriate to give an indication of mineralisation.
Quality of assay data and laboratory tests	The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.	4m RC composite samples were submitted to Intertek Laboratory Perth where the entire sample was crushed, a 300g split was pulverised and 25g charge assayed by aqua regia with standard ICP-MS finish. 1m RC samples were submitted Intertek Laboratory Perth where the entire sample was crushed, a 300g split was pulverised and 50g charge fire assay / ICP-OES. ½ core samples were assayed at Intertek Perth where the entire sample was crushed, a 300g split was pulverised and 50g charge fire assay / ICP-OES.
	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.	No geophysical surveys reported in this release.
	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.	Certified reference material (CRM) samples sourced from Geostats and were inserted every 25 samples and Blank samples. Std Au ppm Source G913-1 0.82 Geostats Pty Ltd G917-9 12.14 Geostats Pty Ltd G998-4 4.36 Geostats Pty Ltd
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel.	All assays are reviewed by Odyssey Gold and significant intercepts are calculated as composites and reported using 0.5g/t Au cut-off grade. A maximum of 3m consecutive internal waste is allowed in composites. All significant intercepts are calculated by Odyssey’s data base manager and checked by the Competent Person
	The use of twinned holes.	There have been no recent twin holes drilled at the Project.
	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.	All drill hole logging is completed on digital logging templates with built-in validation. Logging spreadsheets are uploaded and validated in a central MS Access database. All original logging spreadsheets are also kept in archive
	Discuss any adjustment to assay data.	No assay data was adjusted.

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Criteria	JORC Code explanation	Commentary
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.	Drill hole collars are located using handheld GPS with 3-5m accuracy. Downhole surveys for both RC and DDH drilling are recorded using a True North seeking GYRO survey tool. The location of the Blue Gino Prospect, and rock samples has been shown as a general region to avoid potential unauthorised disturbance, and environmental damage.
	Specification of the grid system used.	The project currently uses the MGA94, Zone 50 grid system.
	Quality and adequacy of topographic control.	The site topographic surveys including the pit surveys match well with the drill hole collars. Detailed aerial photography over the region has aided on locating drillhole collars.
Data spacing and distribution	Data spacing for reporting of Exploration Results.	Drill hole spacing for the 2021 drill program is variable as most drilling to date is either first pass drilling of new exploration targets or step-out brownfields exploration targeting along strike from existing Resources. In general, drill hole collar spacing on new exploration traverses has been between 20-100m with hole depths designed to provide angle-overlap between holes on the drill traverse (i.e., the collar of each hole is located vertically above the bottom of theprecedinghole).
	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.	Further work is required at the Project to test for extension of mineralisation potential and verification of historical collars. Some drilling is on a spacing which is sufficient to test the grade continuity of mineralisation for this style of mineralisation. The current data set is considered potentially appropriate for use in a future Mineral Resource providing further drilling is completed.
	Whether sample compositing has been applied.	RC samples at 4m intervals using a spear.
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.	It is considered the orientation of the bulk of the drilling and sampling suitably captures the dominant “structure” of the style of mineralisation at Tuckanarra.
	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.	This is not currently considered material. The bulk of the intercepts appear to be orthogonal to the mineralisation +/- 25 degrees unless otherwise stated in the intercepts table. Further work will be undertaken to analyse this in the future as exploration works progress.
Sample security	The measures taken to ensure sample security.	All core sample intervals are labelled in the core boxes with sample tags and aluminium tags. Cut core samples are collected in bags labelled with the sample number and a sample tag. RC samples are collected in prenumbered calico bags. Samples are delivered to the lab directly by Odyssey personnel.
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	All QAQC data is reviewed to ensure quality of assays; batches containing standards that report greater than 2 standard deviations from expected values are re-assayed.

Section 2 Reporting of Exploration Results (Criteria listed in the preceding section also apply to this section.)

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.	Odyssey owns an 80% interest in the Tuckanarra Project, comprising two Exploration Licences (E20/782-783), one Mining Licence (M20/527), and seven Prospecting Licences. The licences are currently in the name of Monument Murchison Pty Ltd and Dennis Bosenberg and are in the process of being transferred into the name of Odyssey’s subsidiary, Tuckanarra Resources Pty Ltd. The Stakewell Project comprises of ten Prospecting Licences (P51/2869, P51/2870, P51/2871, P51/2872, P51/2873, P51/2874, P51/2875, P51/2876, P51/2877 and P51/2878) and one Exploration Licence (E51/1806). The Company has a beneficial 80% stake in the licences through a joint venture with Diversified Asset Holdings(“DAH”).
	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 tenement package is understood to be in good standing with the WA DMIRS.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	Refer to the body of the report.

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Criteria	JORC Code explanation	Commentary
Geology	Deposit type, geological setting and style of mineralisation.	The Project area is located within the Meekatharra-Wydgee Greenstone belt within the north-eastern Murchison Domain. The majority of greenstones within the Meekatharra-Wydgee belt have been stratigraphically placed within the Polelle Group and the Norie Group of the Murchison Supergroup. The Project area covers Archean basement rocks assigned to the 2815-2805 Ma basal Norie group of the Murchison Supergroup, which covers the eastern margin of the Meekatharra-Wydgee greenstone belt. The Norie group comprises a thick succession of pillowed and massive tholeiitic basalts of the Muroulli Basalt, and conformably overlying and mafic schist and felsic volcanoclastics with interbedded BIF and felsic volcanic rocks of the Yaloginda Formation (Van Kranendonk et al, 2013). These rocks are folded around the south- plunging Besley Anticline. Adjacent to these rocks are the mafic sequences of the Meekatharra Formation (Polelle Group). Granitoids in the Project area comprise of the Jungar Suite and Annean Supersuite to the east and the Munarra Monzogranite of the Tuckanarra Suite to the west. The Jungar Suite comprises of foliated to strongly sheared K-feldspar-porphyritic monzogranites. These rocks are characterized by strong shear fabrics that suggest they may have been emplaced during, or just before, shearing. The Annean Supersuite includes hornblende tonalite and monzogranitic rocks. The Tuckanarra Suite consists of strongly foliated and locally magmatically layered granodiorite to monzogranitic rocks. The Project is situated within the ‘Meekatharra structural zone’, a major regional, NE-trending shear dominated zone, about 50 to 60km wide, stretching from Meekatharra through the Cue region as far south as Mount Magnet. This major shear zone is dominated by north and northeast-trending folds and shears (e.g. Kohinoor shear). The Mt Magnet fault is the major east- bounding structure of the Meekatharra structural zone. The mineralised zones of the Project are located in the Tuckanarra greenstone belt comprising a series of mafic and inter-banded mafic and iron formations, with a variable component of clastic sediments, (greywackes and minor shales). The sequence is folded into a south‐westerly plunging anticline with a well-developed axial plane cleavage and numerous fractures, bedding parallel faults and shears. The belt extends northwards to Stake Well and east towards the Reedys mining centre. The area has four large open pits, extensive minor gold workings, and prospecting pits principally associated with mafic lithologies and Altered Ferruginous Transitional (AFT) and Altered Ferruginous Fresh (AFF) material which were originally banded iron formations. The magnetite content within the AFT/AFF’s has been destroyed and predominantly altered to an assemblage of hematite with the relic structure of the banded iron intact. Where mineralised veins intersect major competency contrasts such as high magnesium basalt or AFT/AFF, veining becomes layer parallel resulting in larger deposits such as the Bollard and Cable deposits. A number of styles of gold mineralisation have been identified in the area including: • Mineralised AFT and AFF material ± quartz veining (Cable East, Cable Central); • Quartz veins ± altered basalts (Cable West, Lucknow, Maybelle, Maybelle North, Miners’ Dream); and • Gold mineralisation within laterite (Anchor, Bollard, Drogue). Below the base of complete oxidation (~40m) gold mineralisation is commonly seen associated with quartz‐pyrrhotite veins and pyrrhotite replacement of the host rocks. Prospective models for the discovery of additional gold deposits in the area are related to the intersection of shear zones withprospective lithologies.

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Criteria	JORC Code explanation	Commentary
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.	All new drill hole details are provided in Appendix 1.
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.	Significant intercepts are reported as down-hole length- weighted averages of grades above approximately 0.5 g/t Au and above a nominal length of 3m. No top cuts have been applied to the reporting of the assay results.
	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.	Higher grade intervals are included in the reported grade intervals; and have also been split out on a case-by-case basis where relevant.
	The assumptions used for any reporting of metal equivalent values should be clearly stated.	No metal equivalent values are used.
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’).	The bulk of the exploration drilling was conducted so that results would be close to orthogonal to the mineralisation as understood at the time; however, the true relationship to the mineralisation is not accurately determined.
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.	Refer to Figures in the body of this announcement and Appendix 1.
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.	Balanced reporting has been used. It is noted that the soils data is still being collated, but the author considers the use of soils data appropriate for reporting broad-scale anomalies for general targeting; as has been undertaken on this project by previous companies under JORC 2004. The exploration results should be considered indicative of mineralisation styles in the region. Exploration results stated indicated highlights of the drilling and are not meant to represent prospect scale mineralisation. As the projects are brownfields exploration targets, and there are large numbers of holes drilled over the region, it is considered appropriate to illustrate mineralised and non-mineralised drill holes by the use of diagrams, with reference to the table of significant intercepts.
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	No other meaningful data is required to be presented other than what has been presented in the body of this announcement.

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Criteria	JORC Code explanation	Commentary
	characteristics; potential deleterious or contaminating substances.
Further work	The nature and scale of planned further work (eg tests for lateral extensions or depth 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.	Additional drilling is planned to test extensions at the Bottle Dump prospect and other targets in the Tuckanarra and Stakewell Projects.

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