ORA BANDA MINING LTD — Capital/Financing Update 2020

Jan 27, 2020

ASX Announcement (ASX : OBM)

28 January 2020

High-Grade Assay Results for Callion Resource Model Upgrade Commenced

HIGHLIGHTS:

• Ø Callion Phase 1 resource definition drilling program complete – first assay results received

• Ø Significant high grade results returned from both open pit and underground drill targets

• Ø Upgrading of Callion resource model has commenced

• Ø Open Pit target results returned to date include:

• 10.0m @ 8.0 g/t from 76m

• o 5.0m @ 3.3 g/t from 73m

• Ø Underground target results returned to date include:

• 4.8m @ 34.4 g/t from 232m, including 0.3m @ 498.2g/t

• o 1.2m @ 15.7 g/t from 220m

Ora Banda Mining Limited (ASX:OBM) (“Ora Banda”, “Company”) is pleased to announce initial results from its Callion resource definition drilling program.

Drilling at Callion has been focussed on delineating both an open pit and an underground Mineral Resource.

A total of 46 RC holes (5,962 m) and 15 diamond tails (1,689 m) have been completed in Phase 1 of the Callion resource definition drilling program.

Assay results for remaining 23 holes at Callion are expected mid February.

Of significance in the open pit drilling program is hole CNRC19002 that returned 10.0m @ 8.0 g/t from 76 metres . This hole targeted and successfully intersected a high-grade shoot that remains the primary focus of the open pit cut back target (see Figure 5).

Of significance in the underground diamond drilling program is hole CNDD19015 that returned 4.8m @ 34.4g/t from 232 metres . This hole targeted and successfully intersected the down plunge continuation of the highgrade shoot associated with the historical main underground mining area (see Figure 4). The overall shoot plunge continuation at depth remains a focus for future exploration works.

Ora Banda’s conceptual plan for the Callion deposit includes an open pit cut back, re- establishing access to existing underground mine workings, rehabilitating existing underground mine development where required to extract a number of high-grade zones that remain within the historical mine and the development and extraction of new high grade areas below the existing mine workings.

Managing Director Comment

Ora Banda Managing Director, David Quinlivan, said: “These initial results are consistent with the Company’s development objectives for Callion. We are targeting Callion as it is historically known for its high-grade potential. We are pleased to see this is holding true in the results that have been returned. We look forward to receiving the remaining assay results and progressing with the Mineral Resource update.”

ADDRESS Level 1, 2 Kings Park Rd, Perth WA 6005 POST PO Box 464, West Perth WA 6872 ABN 69 100 038 266 PHONE +61 8 6365 4548 PHONE (TOLL FREE) 1300 035 592 WEBSITE www.orabandamining.com.au ENQUIRES info@orabandamining.com.au

About the Callion Deposit

The Callion Deposit is located 13km South West of the Davyhurst Mill, within the North Eastern Goldfields of Western Australia.

The deposit has been mined underground by various operators since the early 1900s, with more substantial development undertaken by Western Mining Corporation during the period 1934-1959 (pre and post war). Additional underground activity and open pit mining works were undertaken by the Callion JV in the late 1980s, prior to a second round of open pit development by Croesus in 2004-2005.

The existing Callion open pit is approximately 650m long and approximately 40m deep, with the underground workings extending off the southern end of the pit to a vertical depth of 220m below surface. The deepest high grade diamond drill hole result recorded from Callion to date (CS6W1 – 10.5m @ 17.2 g/t) sits approximately 420m vertically below surface and approximately 200m vertically below the base of the existing mine workings (See Figures 3 and 4).

Total recorded historic production for Callion is 280Kt @ 10.2 g/t for 91,650 ounces of contained gold ( open pit - 135Kt @ 4.1g/t for 17.6koz and underground – 146Kt @ 15.8g/t for 74Koz )[1] .

Callion has a published resource of 169Kt @ 2.6 g/t for 14,000 contained ounces[2] . This resource is constrained above the 350m RL (80 vertical metres below surface) to assess remnant open cut potential only.

A Mineral Resource upgrade that includes both open pit and underground potential remains a key focus for this deposit.

1. Historical production figures sourced from internal Company records (Monarch Gold 2008)

2. Resource table (page 9)

ADDRESS Level 1, 2 Kings Park Rd, Perth WA 6005 POST PO Box 464, West Perth WA 6872 ABN 69 100 038 266 PHONE +61 8 6365 4548 PHONE (TOLL FREE) 1300 035 592 WEBSITE www.orabandamining.com.au ENQUIRES info@orabandamining.com.au

2

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Figure 1 – Callion Area Location Plan

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Figure 2 – Callion drill location plan for holes relating to this release

Refer ASX announcement dated 24 November 2016, 10 January 2017, 20 February 2017, 31 August 2017 and for further drilling details refer to the Company's website; Project Overview www.orabandamining.com.au

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Figure 3 – Callion drill location plan for all drilling

Refer ASX announcement dated 24 November 2016, 10 January 2017, 20 February 2017, 31 August 2017 and for further drilling details refer to the Company's website; Project Overview www.orabandamining.com.au

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Figure 4 – Callion Long Section

Refer ASX announcement dated 24 November 2016, 10 January 2017, 20 February 2017, 31 August 2017 and for further drilling details refer to the Company's website; Project Overview www.orabandamining.com.au

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Figure 5 – Cross Section of Figure 2, showing hole WHRC19085

Refer ASX announcement dated 24 November 2016, 10 January 2017, 20 February 2017, 31 August 2017 and for further drilling details refer to the Company's website; Project Overview www.orabandamining.com.au

This announcement was authorised for release to ASX by David Quinlivan, Managing Director. For more information about Ora Banda Mining and its projects please visit our website at www.orabandamining.com.au

Investor & Media Queries: David Quinlivan Managing Director +61 8 6365 4548 info@orabandamining.com.au

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Competent Persons Statement

The information in this Announcement that relates to Exploration Results, and the Sand King, Missouri Mineral Resources is based on information compiled under the supervision of Mr Andrew Czerw, an employee of Ora Banda Mining Limited, who is Member of the Australian Institute of Mining and Metallurgy. Mr Czerw has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Czerw consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

The information in this Announcement that relates to Mineral Resources is based on information compiled under the supervision of Mr Andrew Czerw, an employee of Ora Banda Mining Limited, who is Member of the Australian Institute of Mining and Metallurgy. Mr Czerw 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 2004 and 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. 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 dated 15 December 2016 & 3 January 2017 and to ASX release "Prospectus" on 30 April 2019. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been modified from the original announcement and, in the case of estimates of Mineral Resources, all material assumptions and technical parameters underpinning the estimates in the initial announcement continue to apply and have not materially changed. This information was prepared and first disclosed under the JORC Code 2004. It has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported.

Unless otherwise stated, all Mineral Resources and Ore Reserves (with the exception of Missouri and Sand King) are reported in accordance with JORC 2004. The relevant information has not been updated since to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported.

Forward-looking Statements

This Announcement contains forward-looking statements which may be identified by words such as "believes", "estimates", "expects', "intends", "may", "will", "would", "could", or "should" and other similar words that involve risks and uncertainties. These statements are based on an assessment of present economic and operating conditions, and on a number of assumptions regarding future events and actions that, as at the date of this Announcement, are expected to take place.

Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, the Directors and management of the Company. These and other factors could cause actual results to differ materially from those expressed in any forward-looking statements.

The Company has no intention to update or revise forward-looking statements, or to publish prospective financial information in the future, regardless of whether new information, future events or any other factors affect the information contained in this Announcement, except where required by law.

The Company cannot and does not give assurances that the results, performance or achievements expressed or implied in the forwardlooking statements contained in this Announcement will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements.

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Resource Table

PROJECT	('000t) (g/t Au) MEASURED	('000t) (g/t Au) MEASURED	INDICATED	INDICATED	INFERRED	INFERRED	('000t) (g/t Au) ('000oz.) TOTAL MATERIAL	('000t) (g/t Au) ('000oz.) TOTAL MATERIAL	('000t) (g/t Au) ('000oz.) TOTAL MATERIAL
		(g/t Au)	('000t)	(g/t Au)	('000t)	(g/t Au)	('000t)	(g/t Au)
GOLDEN EAGLE	-	-	345	2.5	311	2.6	656	2.5	54
LIGHTS OF ISRAEL	-	-	74	4.3	180	4.2	254	4.2	35
MAKAI SHOOT	-	-	1,985	2.0	153	1.7	2,138	2.0	136
WAIHI	-	-	805	2.4	109	2.4	914	2.4	71
Central Davyhurst Subtotal	-	-	3,200	2.2	800	2.6	3,962	2.3	296
LADY GLADYS	-	-	1,858	1.9	190	2.4	2,048	1.9	128
RIVERINA AREA	136	2	2,905	1.8	746	4.1	3,786	2.3	278
FOREHAND	-	-	386	1.7	436	1.9	822	1.8	48
SILVER TONGUE	-	-	155	2.7	19	1.3	174	2.5	14
SUNRAYSIA	-	-	175	2.1	318	2.0	493	2.0	32
Riverina-Mulline Subtotal	136	2.1	5,479	2.1	1,709	2.3	7,323	2.2	500
SAND KING	-	-	1,773	3.3	680	3.7	2,453	3.4	271
MISSOURI	-	-	2,022	3.0	409	2.6	2,431	2.9	227
PALMERSTON / CAMPERDOWN	-	-	118	2.3	174	2.4	292	2.4	22
BEWICK MOREING	-	-	-	-	50	2.3	50	2.3	4
BLACK RABBIT	-	-	-	-	434	3.5	434	3.5	49
THIEL WELL	-	-	-	-	18	6.0	18	6.0	3
Siberia Subtotal	-	-	3,913	3.1	1,765	3.2	5,678	3.1	576
CALLION	-	-	86	2.8	83	2.3	169	2.6	14
Callion Subtotal	-	-	86	2.8	83	2.3	169	2.6	14
FEDERAL FLAG	32	2.0	112	1.8	238	2.5	382	2.3	28
SALMON GUMS	-	-	199	2.8	108	2.9	307	2.8	28
WALHALLA	-	-	448	1.8	216	1.4	664	1.7	36
WALHALLA NORTH	-	-	94	2.4	13	3.0	107	2.5	9
MT BANJO	-	-	109	2.3	126	1.4	235	1.8	14
MACEDON	-	-	-	-	186	1.8	186	1.8	11
Walhalla Subtotal	32	2.0	962	2.1	887	2.0	1,881	2.1	126
IGUANA	-	-	690	2.1	2,032	2.0	2,722	2.0	177
LIZARD	106	4.0	75	3.7	13	2.8	194	3.8	24
Lady Ida Subtotal	106 ~~274~~	4.0	765 ~~14,405~~	2.3	2,045 ~~7,289~~	2.0	2,916 ~~21,929~~	2.1	201
Davyhurst Total	300	2.8	14,400	2.4	7,300	2.4	21,900	2.4	1,710
BALDOCK	-	-	136	18.6	0	0.0	136	18.6	81
METEOR	-	-	-	-	143	9.3	143	9.3	43
WHINNEN	-	-	-	-	39	13.3	39	13.3	17
Mount Ida Total	-	-	140	18.6	180	10.2	320	13.8	140
Combined Total	300	2.8	14,500	2.6	7,500	2.6	22,200	2.6	1,850

1. All Mineral Resources listed above, with the exception of the Missouri, Sand King and Riverina Mineral Resources, were prepared previously and first disclosed under the JORC Code 2004 (refer to ASX release “ Prospectus ”, 30 April 2019) . These Mineral Resources have not been updated in accordance with JORC Code 2012 on the basis that the information has not materially changed since it was last reported.

2. The Missouri and Sand King Mineral Resources have been updated in accordance with all relevant aspects of the JORC code 2012, and initially released to the market on 15 December 2016 (Missouri) 3 January 2017 (Sand King).

3. The Riverina Mineral Resource Estimate is reported within a A$2,400/oz pit shell above 0.5g/t. UG above 2.0g/t below $A2,400/oz pit shell.

4. The values in the above table have been rounded.

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Appendix 1: Significant Intersections Table

HOLE ID	MGA North	MGA East	RL	Azi	Dip	END DEPTH	From	To	Interval	Grade	GRAMS METRE	Au ppm interval
CNDD19001	6,665,774	267,227	478	262	-58	198.80	72.00	76.00	4.00	1.05	4.19	4.00m @ 1.05 ppm
CNDD19002	6,665,683	267,281	476	259	-60	240.80	199.80	202.75	2.95	0.45	1.34	2.95m @ 0.45 ppm
CNDD19004	6,665,549	267,298	474	259	-61	196.30						N.S.I
CNDD19005	6,665,555	267,328	473	256	-59	246.90	219.95	221.15	1.20	15.73	18.87	1.20m @ 15.73 ppm
CNDD19006	6,665,510	267,307	473	262	-61	228.60						N.S.I
CNDD19008	6,665,477	267,321	473	259	-60	72.00						N.S.I
CNDD19009	6,665,436	267,351	472	259	-62	261.80	221.80	224.50	2.70	4.70	12.69	2.70m @ 4.70 ppm
CNDD19011	6,665,396	267,363	472	256	-60	267.70	239.15	242.50	3.35	0.67	2.25	3.35m @ 0.67 ppm
							235.00	236.50	1.50	4.22	6.32	1.50m @ 4.22 ppm
CNDD19015	6,665,284	267,404	473	256	-60	264.70	232.50	237.30	4.80	34.38	165.01	4.80m @ 34.38 ppm
							Incl 232.5	232.80	0.30	498.21	149.46	0.30m @ 498.21 ppm
							Incl 235.7	237.30	1.60	9.22	14.75	1.60m @ 9.22 ppm
CNRC19001	6,665,951	267,011	483	82	-57	109.00	0.00	1.00	1.00	0.54	0.54	1.00m @ 0.54 ppm
							86.00	88.00	2.00	1.23	2.45	2.00m @ 1.23 ppm
							Incl 87	88.00	1.00	1.59	1.59	1.00m @ 1.59 ppm
CNRC19002	6,665,970	267,015	483	79	-52	103.00	66.00	69.00	3.00	3.08	9.24	3.00m @ 3.08 ppm
							76.00	86.00	10.00	7.99	79.87	10.00m @ 7.99 ppm
CNRC19003	6,665,997	266,999	484	79	-50	115.00	81.00	84.00	3.00	1.26	3.79	3.00m @ 1.26 ppm
							Incl 83	84.00	1.00	2.93	2.93	1.00m @ 2.93 ppm
CNRC19004	6,666,035	266,979	483	79.5	-50	145.00	86.00	87.00	1.00	0.82	0.82	1.00m @ 0.82 ppm
CNRC19005	6,666,073	266,985	483	79.5	-52	127.00						N.S.I
CNRC19006	6,666,112	266,996	484	83	-50	79.00	47.00	49.00	2.00	2.04	4.08	2.00m @ 2.04 ppm
							Incl 47	48.00	1.00	3.52	3.52	1.00m @ 3.52 ppm
CNRC19010	6,666,102	267,102	487	256	-58	132.00	38.00	40.00	2.00	1.38	2.76	2.00m @ 1.38 ppm
							Incl 38	39.00	1.00	2.11	2.11	1.00m @ 2.11 ppm
							43.00	46.00	3.00	0.52	1.56	3.00m @ 0.52 ppm
CNRC19011	6,666,053	267,132	483	259	-54	150.00	39.00	40.00	1.00	3.55	3.55	1.00m @ 3.55 ppm
							59.00	60.00	1.00	0.65	0.65	1.00m @ 0.65 ppm
							79.00	80.00	1.00	0.69	0.69	1.00m @ 0.69 ppm
							145.00	147.00	2.00	0.59	1.19	2.00m @ 0.59 ppm
CNRC19012	6,666,025	267,142	482	259	-50	120.00	73.00	78.00	5.00	3.31	16.53	5.00m @ 3.31 ppm
							Incl 76	78.00	2.00	7.71	15.42	2.00m @ 7.71 ppm
CNRC19013	6,665,935	267,168	482	259	-55	120.00	33.00	34.00	1.00	1.70	1.70	1.00m @ 1.70 ppm
CNRC19014	6,665,910	267,166	483	259	-61	144.00	80.00	84.00	4.00	3.87	15.49	4.00m @ 3.87 ppm
CNRC19015	6,665,855	267,180	482	265	-52	150.00	75.00	76.00	1.00	1.73	1.73	1.00m @ 1.73 ppm
							119.00	120.00	1.00	6.14	6.14	1.00m @ 6.14 ppm
							123.00	124.00	1.00	2.54	2.54	1.00m @ 2.54 ppm
CNRC19039	6,666,185	266,962	484	64	-62	102.00	0.00	1.00	1.00	1.12	1.12	1.00m @ 1.12 ppm
CNRC19040	6,666,211	266,959	485	79	-50	72.00	41.00	51.00	10.00	0.72	7.15	10.00m @ 0.72 ppm

No upper cut applied, Significant intersections greater than 0.5g/t, 2m maximum internal waste, 50g Fire assay with AAS finish, Coordinates in MGA94 zone 51

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JORC CODE, 2012 EDITION – TABLE 1 REPORT TEMPLATE

Section 1 Sampling Techniques and Data

Information for historical (pre-Ora Banda Mining Limited from 1996 and 2001) drilling and sampling has been extensively viewed and validated where possible. Information pertaining to historical QAQC procedures and data is incomplete but of a sufficient quality and detail to allow drilling and assay data to be used for resource estimations. Further Ora Banda Mining Limited has undertaken extensive infill and confirmation drilling which confirm historical drill results. Sections 1 and 2 describe the work undertaken by Ora Banda Mining Limited and only refer to historical information where appropriate and/or available.

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.	• Centamin - 90 and 130mm AC, RC drilling with 1m sampling using ECM350 Crawlair and Schramm T64 drill rigs respectively. Individual or 2m composite samples were analysed by both aqua regia and fire assay of undocumented charge and laboratory. • Consolidated Exploration - RAB drilling, sampled on 1m basis. Potential mineralisation in DSW holes were composited to 3m with only selected samples dispatched for assay. URB holes were composited to 2m for first 2 metres then 4m composite thereon. Both programs underwent Fire assay of undocumented charge at Genalysis, Perth • Consolidated Gold - 1m sampling from RC rig. Potential mineralisation assayed on a metre basis at 2-3kg target weight - otherwise as 4m composites. Composites returning significant results were re-submitted as individual metres. Samples were pulverised and a 50g charge for Fire Assay performed. • Crest - 1 m sampling of RAB holes from which 4m composite samples were submitted from which a 50g charge was used for fire assay (NRAB holes) or aqua regia (CLN holes). • Croesus - RC, RAB and AC 1m samples collected under cyclone. 5m composite samples were crushed, pulverised and assayed for gold by 50g Fire assay. HQ Diamond core was halved and sampled over the entire hole at 1m and 0.5m intervals. Core samples were sent to Ultratrace Laboratories of Perth and analysed for Au, Pt and Pd by fire assay (50gm charge). • Delta - RC and RAB 5 metre composites for a 50g charge by aqua-regia analysis. 1m re-samples and NQ2 diamond tail core were milled and assayed by 50g charge fire assay. • Eastern Goldfields Limited (EGL) - 1m RC samples using face sampling hammer with samples collected under cone splitter. 1m and 4m composite samples were dispatched for pulverising and 50g charge Fire Assay. Half core samples, cut by saw. Core sample intervals selected by geologist and defined by geological boundaries. Samples are crushed, pulverized and a 40g charge is analysed by Fire Assay. • Lonestar – RC drilling. 1m sampling and logging. 3m composites or 1m samples were crushed, pulverised and analysed by Fire assay. • Lubbock - 1m RC drilling with composite samples of 2m in length and 1m in areas of quartz veining or areas of interest. Analysis by aqua regia with re-assays by fire assay at SGS Kalgoorlie or Comlabs. RC Laterite assaying by aqua regia only. RAB assay methods undocumented. Not all Diamond drilling details known but some were NQ and were cut and assayed by Fire Assay • Monarch - RAB 2m-4m scoop composites and 1m intervals were despatched for analysis by aqua regia. Not all intervals were sampled. • Mt Kersey – Sample cones from RAB drilling quartered by trowel and composited over 4m. Wet samples were grab sampled. Analysis of a 30g charge by AAS. • Ora Banda Mining Limited (OBM) - 1m RC samples using face sampling hammer with samples collected under a level cyclone / cone splitter configuration. Two split samples collected every metre. 1m and 4m composite samples were dispatched for pulverising and 50g charge Fire Assay. Half-core samples, cut by core saw. Core sample intervals selected by geologist and defined by geological and mineralisation boundaries. Samples are crushed, pulverized and a 50g charge is analysed by Fire Assay. • Pancontinental - RC and RAB: RC drilling - 2kg splits taken from each metre and every second sample analysed initially with alternate samples analysed in anomalous zones byundocumented method. RAB samples taken each metre and sometimes composited upto 4m.

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Criteria	JORC Code explanation	Commentary
		Selected intervals were dispatched for assay by undocumented method. • Riverina Resources - RC: 4m composites by spear with 1m riffle split resamples. RAB:4m composites by spear with 1m spear resamples. All samples were crushed, pulverised and analysed by 50g charge for fire assay. • Siberia mining Corporation (SMC) - RAB drilling. 1m sampling, Laboratory methods undocumented and appears to have undergone selective sample dispatch • WMC - RAB drilling. 1m sampling, details undocumented
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).	• Centamin - Aircore 90mm and RC 130mm diameter holes (Conventional hammer) • Consolidated Exploration - RAB drilling, details undocumented. • Consolidated Gold - RC Face sampling hammers. Undocumented diameter and bit size. • Crest - RAB - details undocumented • Croesus - Diamond holes HQ diameter. RC with 5.5 inch face sampling hammer and 4 inch RAB holes • Delta - RAB and RC - details undocumented. NQ2 diamond tails • Lonestar – RC drilling details undocumented. Presumably industry standard of 5.5 inch face sampling hammer. • Lubbock - RAB, RC and Diamond details of which are undocumented for all types. Diamond drilling was of NQ diameter and included pre-collars and tails and wedges. Core was not oriented. • Monarch - RAB samples were collected by Kennedy Drilling using a 4 inch blade. • Mt Kersey - Details RAB drilling undocumented • Ora Banda Mining Limited – 5.5 – 5.625 inch diameter RC holes using face sampling hammer with samples collected under cone splitter. Core holes have RC pre-collars up to 150m depth, then NQ2 coring to BOH. All core oriented by reflex instrument. • Pancontinental - RAB and RC but hammer types undocumented • Riverina Resources – RC, undocumented diameter, presumably industry standard of 5.5 inch face sampling hammer. RAB diameter undocumented • SMC - RAB details undocumented • EGL - 5 inch diameter RC holes using face sampling hammer with samples collected under cone splitter. HQ3 coring to approx. 40m, then NQ2 to BOH. All core oriented by spear and/or reflex instrument • WMC - RAB details undocumented
Drill sample recovery	• Method of recording and assessing core and chip sample recoveries and results assessed. • 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.	• Historic operators have not captured recovery data from RAB or RC drilling. • Eastern Goldfields Limited - Diamond drill recoveries are recorded as a percentage calculated from measured core against downhole drilled intervals (core blocks). • Ora Banda Mining Limited – RC drilling recoveries recorded on a pre metre basis based on sample size. Diamond drill recoveries are recorded as a percentage calculated from measured core against downhole drilled intervals (core blocks). • There is no known relationship between sample recovery and grade.
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.	• In all cases, entire holes were geologically logged • Centamin - Basic descriptive logging with quartz and weathering notations • Consolidated Exploration - Qualitative: Lithology , colour, Oxidation, alteration, minerals • Consolidated Gold - Qualitative: Lithology, colour, Oxidation, alteration, sulphides, structure, moisture. Quantitative: logging applied to veining percentage • Crest - Qualitative: Lithology, Colour, Oxidation, alteration, grainsize. Quantitative: logging applied to veining percentage • Croesus - All DD holes photographed, geologically logged and geotechnical and magnetic susceptibility measurements were taken. Qualitative: Lithology, colour, grainsize, alteration, oxidation, texture, structures, regolith. Quantitative: Quartz veining • Delta - Colour, oxidation, structural, lithology, alteration, veining, mineralogy • Lonestar - Colour,oxidation,lithology,alteration,veining,minerals

12

Criteria	JORC Code explanation	Commentary
		• Lubbock - Logging of diamond holes was descriptive. Qualitative: Lithology, alteration, texture, structure, minerals, grainsize. RC/RAB logging believed to have been done however documentation unavailable. • Monarch - Qualitative: Regolith, Grain Size, Lithology, Colour, Texture, Structure, Oxidation, Alteration. Quantitative: Sulphide, Mineral, Veining • Mt Kersey - Qualitative: Lithology, colour, alteration, oxidation, fabric, hardness, BOCO, Grainsize. Quantitative: minerals, quartz • Ora Banda Mining Limited - Qualitative: Lithology, colour, oxidation, grainsize, texture, structure, hardness, regolith. Quantitative: estimates are made of quartz veining, sulphide and alteration percentages. Magnetic susceptibility recorded on a per metre basis in core holes. Core hole RQD logged. Core photographed wet and dry. Bulk density determination using Archimede’s Principle is routinely undertaken using whole core segments. • Pancontinental - Qualitative: Lithology, quartz veining • Riverina Resources - Qualitative: Lithology, minerals, colour, alteration, oxidation, texture, Grainsize. Quantitative: sulphides, quartz • SMC - Qualitative: alteration, colour, lithology, oxidation, mineralogy, vein style, vein assemblage, remarks. Quantitative: mineralisation intensity. • EGL - Qualitative: Lithology, colour, oxidation, grainsize, texture, structure, hardness, regolith. Quantitative: estimates are made of quartz veining, sulphide and alteration percentages. Core photographed. WMC - No details available
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. • 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.	• All laboratories performed repeats conducted at the discretion of the laboratory • Aberfoyle – Early (~1990) drilling 2m samples composited to 6m by undocumented method. Results returning >0.2g/t resampled • Centamin - Methods undocumented. Samples mostly submitted on 1m basis with limited 2m composites • Consolidated Exploration - DSW holes were selectively sampled and dispatched for assay as 3m composites. URB holes were composited to 2m for first 2 metres then 4m composite thereon. Sample methods undocumented. • Consolidated Gold - RC: Riffle split to 2-3kg, residue placed in plastic bags. Intervals of prospective mineralisation or of geological interest were dispatched as individual metres with the remainder of the hole composited to 4m by undocumented method. RAB 4m composite samples using PVC spear. Both RC and RAB composites returning >0.19ppm or .24ppm for Callion holes re-submitted as 1m samples. Samples were dried the pulverised in Mixermill until 90% of sample is 106 microns or less. Duplicates at 1 in 20 frequency from residues submitted. Field duplicates submitted every 20th sample for RC, AC, and RAB • Crest - All sub sampling techniques undocumented • Croesus - 1m samples collected under cyclone. 5m comps, spear sampled with 50mm PVC pipe. Wet RC drill samples were thoroughly mixed in the sample retention bag and scoop sampled to form a composite sample. RAB and AC scoop samples taken from piles laid on ground. Five metre composite analytical samples, returning values greater than 0.1g/t gold, were riffle split (RC) or scoop (RAB,AC) at 1m intervals, where samples were dry, and grab sampled where wet. Diamond tails were cut to half core and sampled based on geological boundaries and identified prospective zones. Sample size varied from 0.5m to1m. Core samples were sent to Ultratrace Laboratories of Perth The analytical samples were dried, crushed and split to obtain a sample less than 3.5kg, and then fine pulverised prior to a 50gm charge being collected and analysed. • Delta - 5m composites by scoop re-submitted as 1m scoop samples if composite result >0.1ppm Au. Core was cut in half. Mixermill lab preparation. Duplicates submitted although frequency unknown • Lonestar - 1m samples and 3m composites by undocumented methods • Lubbock- RC drilling with samples of 2m in length and 1m in areas of quartz veining. Splitting and compositing methods undocumented. RC laterite sampling/assaying on individual metre basis. RAB sampling methods undocumented Core was cut by diamond saw but proportion undocumented. Average sample length of approximately 1m. • Monarch - Samples were composited to 2-4m by scoop. Duplicates are taken 1 in 25 when taking 1m splits straight from the rig. When doing re-splits on composite results 1 in 20 duplicate with occasional triplicates (about 1 every 50 re-splits). • Mt Kersey - Sample cones from RAB drilling quartered by trowel and composited over 4m. Wet samples were grab sampled. • Ora Banda Mining Limited – RC samples were submitted as individual 1m split samples (cone splitter) or composited to 4m by PVC spear. Half-core samples,cut byautomated core saw. Core sample intervals selected by geologist and defined by geological and/or

13

Criteria	JORC Code explanation	Commentary
		mineralisation boundaries. RC samples were dried, crushed, split, pulverised and a 50gm charge taken. Field duplicates, blanks and standards were submitted for QAQC analysis. • Pancontinental - RC drilling: 2kg splits taken from each metre drilled by an in known method. Every second sample analysed initially with alternate samples analysed in anomalous zones. RAB: Individual or composite samples (up to 4m) by undocumented methods. • Riverina Resources - RC: 4m composites by spear with 1m riffle split resamples. RAB:4m composites by spear with 1m spear resamples • SMC - RAB: 4m composite samples. No other details known • EGL - Samples were composited to 4m by scoop or submitted as individual samples. Half core samples, cut by saw. Core sample intervals selected by geologist and defined by geological boundaries. RC samples were dried, crushed, split, pulverised and a 50gm charge taken. Field duplicates, blanks and standards were submitted for QAQC analysis. • WMC - 1m sampling of chips by undocumented method
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. • 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.	• Aqua regia is considered a partial technique whilst Fire Assay is considered total. • Centamin - Both aqua regia and fire assay of unknown charge size and laboratory. • Consolidated Exploration - Fire assay of undocumented charge at Genalysis Perth • Consolidated Gold - Mixermill prep with fire assay 50g charge at AMDEL or Analabs Laboraties in Kalgoorlie. Standards supplied by Gannet Labs. Standard results falling outside 2 standard deviations queried and checked. MWRC holes showed variance with grade indicating possible coarse gold. • Crest - NRAB holes 50g fire assay/AAS to 0.01ppm. CLN holes analysed by ALS for Gold by method PM 205 ( 50 gm aqua regia digest / solvent extraction / graphite furnace AAS) • Croesus - Analysis for gold (Fire assay/ICP Optical Spectrometry) by Ultratrace Laboratory in Perth. Diamond core analysed for Au, Pt and Pd by fire assay at Ultratrace Perth. Every 20th sample was duplicated in the field and submitted for analysis. Gannet standards and blank samples made by Croesus were submitted with split sample submissions. RC drilling included a standard followed by a blank sample submitted every 50th and 51st sample respectively. • Delta - 5m comps: Total mixer mill prep, Aqua-regia with 50g charge, 0.01ppm detection limit. 1m samples and core: as above but with fire assay. Genalysis Kalgoorlie or ALS Kalgoorlie. Core at ALS Kalgoolie. Standards submitted although frequency and certification unknown • Lonestar - Fire assay of unknown charge and AAS at Amdel laboratories Kalgoorlie. Umpire pulp analysis by ALS laboratories using original pulp residues • Lubbock - Core was fire assayed, detail undocumented. RC (non-laterite) samples by aqua regia and results returning 1.0g/t were re- assayed by fire assay at Comlabs Kalgoorlie or SGS. RAB by fire assay, details undocumented. Laterite RC drilling by aqua regia at Comlabs Kalgoorlie. 23 pulps from laterite drill program were split and sent to 3 other labs. Screen fire assays performed on 1984 Glasson drilling (Wamex rpt A16848). • Monarch – RAB samples analysed at SGS by 50g aqua regia/AAS. Standards: 1 in every 20 samples for RC drilling and 1 in 25 for RAB drilling (comps). • Mt Kersey - 30g charge with 0.02 ppm DL by aqua regia at AAL group. • Ora Banda Mining Limited - Samples sent to Nagrom. The samples have been analysed by firing a 50gm portion of the sample. This is the classical fire assay process and will give total separation of gold. An ICPOES finish is used. Commercially prepared standard samples and blanks are inserted in the sample stream at a rate of 1:20 for standards and 1:20 for blanks. Sizing results (percentage of pulverised sample passing a 75μm mesh) are undertaken on approximately 1 in 40 samples. Duplicate samples are taken in RC drillholes at a rate of approximately 1:30. The accuracy (standards) and precision (repeats) of assaying are acceptable. • Pancontinental – Analytical methods undocumented, assumed to be Aqua Regia, as was common at the time.. 2 RC holes were re-split and Fire Assayed and some screen fire assayed. Duplicate pulp samples sent to a different, unknown lab. • Riverina Resources - 50g charge for fire assay at Kalgoorlie Assay Laboratory. • SMC - Details undocumented. However it is assumed that samples were submitted to SGS Analabs in Kalgoorlie to be assayed for gold using 50grm Fire Assay with detection limit at 0.01ppm Au. This was the company practise for work done in other areas.EGL - Samples sent to Intertek. The samples have been analysed byfiringa 50gmportion of the sample. Lower sample weights maybe employed for

14

Criteria	JORC Code explanation	Commentary
		samples with very high sulphide and metal contents. This is the classical fire assay process and will give total separation of gold. An ICPOES finish is used. Commercially prepared standard samples and blanks are inserted in the sample stream at a rate of 1:10. Sizing results (percentage of pulverised sample passing a 75μm mesh) are undertaken on approximately 1 in 40 samples. The accuracy (standards) and precision (repeats) of assaying are acceptable. • WMC - No details found - DB states FA-AAS
Verification of sampling and assaying	• The verification of significant intersections by either independent or alternative company personnel. • The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Discuss any adjustment to assay data.	• Twinned holes were not routinely used by previous operators. • Monarch Gold Mining Company Ltd; Geological and sample data was logged digitally and .csv or .xls files imported into Datashed SQL database with in-built validation. Samples bags were put into numbered plastic bags and then cable tied. Samples collected daily from site by laboratory • EGL - Geological and sample data logged directly into field computer at the core yard using Field Marshall. Data is transferred to Perth via email and imported into Geobank SQL database by the database administrator (DBA). Assay files are received in .csv format and loaded directly into the database by the DBA. Hardcopy and/or digital copies of data are kept for ref • Ora Banda Mining Limited - Geological and sample data logged directly into field computer (Panasonic Toughbook CF-31) at the core yard or at the drill rig using Geobank Mobile. Data is exported from the logging computer, copied onto the company servers and imported into Geobank SQL database by the database administrator (DBA). Assay files are received in .csv format and loaded directly into the database by the DBA. Hardcopy and/or digital copies of data are kept for reference if necessary. • Data entry,verification and storageprotocols for remainingoperators is unknown.
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. • Specification of the grid system used. • Quality and adequacy of topographic control.	• Centamin – Accuracy of collars and downhole survey unknown. Collars located on Centamin local grid using theodolite and chain. • Consolidated Exploration - Collars located by GPS by ConsEx staff. AMG for DSW holes and Lat/Long for URB holes • Consolidated Gold - All collars surveyed by licensed surveyors to respective grids. CNRC holes used in Callion deposit resource were downhole surveyed with Eastman single shot using aluminium collar above hammer. Local grids with 2 point transformation to AMG84 zone 51 grid • Crest - Collars were un-surveyed post drilling, located on AMG84 zone 51 grid • Croesus - Majority of Croesus RC and DD holes were collar surveyed. An exception appears to be the TTRC holes. Local grid was used. Diamond and CNRC prefixed holes were downhole surveyed by EMS with readings every 5 to 10 metres. • Delta - No holes appear to have been surveyed by collar or downhole. AMG84 zone 51 grid • Lonestar - Collars were surveyed upon completion by an undocumented method. Glasson Local grid. • Lubbock- Diamond holes down-hole surveyed every 24m by Eastman camera. Local grids originally utilised. Selected diamond holes were surveyed by EGL staff in MGA94 zone 51 grid using Trimble DGPS. • Monarch - No RAB holes were surveyed post drilling MGA94 zone 51 grid used. No down hole surveys. • Mt Kersey - No holes were surveyed post drilling. Truncated AMG grid used to locate holes. • Ora Banda Mining Limited (RC, DD) MGA94, zone 51. Drill hole collar mark outs are conducted by surveying contractors using RTK GPS (sub-cm accuracy). Subsequent to drilling, holes are picked up using RTK GPS. Drill-hole downhole surveys are recorded every 18-30m using a reflex digital downhole camera (RC) or Gyro tool (DD). • Pancontinental - Most holes were surveyed by McGay Surveys in AMG84 zone 51 and converted to local grids. Local grid on bearing of 325o. • Riverina Resources - RC holes were surveyed in AMG84 zone 51 grid by dGPS. No downhole surveys • SMC – No holes were surveyed post drilling. AMG84 zone 51 grid used. • EGL (RC, DD) MGA95, zone 51. Drill hole collar positions are picked up using a Trimble DGPS subsequent to drilling. Drill-hole, downhole surveys are recorded every 30m using a reflex digital downhole camera. Some RC holes not surveyed if holes short and/or drilling an early stage exploration project. WMC - No holes appear to have been surveyed

15

Criteria	JORC Code explanation	Commentary
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.	• Historic data spacing highly variable from wide spaced ~800m x ~80m regional RAB to close spaced resource drilling ~20m x ~10m and grade control drilling at ~5m x ~5m. • Drill hole spacing is adequate to establish geological and grade continuity for the Callion deposit. • Drill intercepts are length weighted, 1g/t lower cut-off, no top-cut, maximum 2m internal dilution.
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. • 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.	• For most of the deposits in and around Callion the prevailing geological and structural trend is approx. North-South. Once the orientation of mineralisation was established drilling was mostly oriented between 255oand 270oor 75oand 80o. Holes were generally inclined between 50oand 65ofor RC and DD. • Drilling of Laterite deposits is almost exclusively vertical in nature. • It is unknown whether the orientation of sampling achieves unbiased sampling, though it is considered unlikely.
Sample security	• The measures taken to ensure sample security.	• EGL - Samples were bagged, tied and in a secure yard. Once submitted to the laboratories they are stored in cages within a secure fenced compound. Samples are tracked through the laboratory via their LIMS. • Monarch - Pre-numbered sample bags were put into numbered plastic bags. These numbers were written on the submission forms which were checked by the geologist. Plastic bags were then securely cable tied and placed in a secure location. Samples were then picked up by the Lab in Kalgoorlie or deliver to Perth via courier. A work order conformation was emailed to Monarch personnel for each sample submission once samples were received by the Laboratory. • Ora Banda Mining Limited - Samples were collected on the day of drilling and bagged into cable tied polyweave bags. Polyweave bags are stored into bulka bags on pallets in a secure yard on-site. Once submitted to the laboratories they are stored in cages within a secure fenced compound. Samples are tracked through the laboratory via their LIMS. • No documentation for other operators
Audits or reviews	• The results of any audits or reviews of sampling techniques and data.	• OBM has reviewed historic digital data and compared it to hardcopy and digital (Wamex) records. • No audits of sampling techniques have been done.

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.	• All tenure pertaining to this report is listed below

16

Criteria	JORC Code explanation		Commentary	Commentary
	• 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.
			TENEMENT	HOLDER	AGREEMENTS
			M30/103	CARNEGIE GOLD PTY LTD.	Crown Diamonds Royalty Agreement; Payable on all materials mined and processed from M30/103 of: • $1.00 per tonne if the grade is equal to or less than 3.0 grams per tonne; • $2.50 per tonne if the grade is greater than 3.0 grams per tonne but equal to or less than 4 grams per tonne; • $4.00 per tonne if the grade is greater than 4.0 grams per tonne; and
					• $5.50 per tonne if the grade is greater than 7.0 grams per tonne and the ore is extracted by underground operations.
			• Carnegie • There are
Exploration done by other parties	• Acknowledgment and appraisal of exploration by other parties.		• Drilling, sampling and assay procedures and methods as stated in the database and confirmed from Wamex reports and hard copy records are considered acceptable and to industry standards of the time. There is sufficient understanding of drilling, sampling and assay methodologies for the majority of drilling in the Callion area. The company is confident that previous operators completed work to standards considered acceptable for the time. As part of each resource upgrade, Ora Banda Mining Ltd will commit to additional drilling to confirm the style,widths and tenor of mineralisation at each deposit.
Geology	• Deposit type, geological setting and style of mineralisation.		• Callion lies in the Barlee Terrain, West of the Ida Fault. The Mount Ida Greenstone Belt of the Barlee Terrane in the Callion area is described by Wyche & Witt (1994), as an east-dipping sequence of tholeiitic basalt and dolerite intercalated with several BIF and shale units in the east. The westernmost, and presumably the lowermost (as facing is indeterminate), rock type mapped in the area is a +700m thick sequence of sandstone, wacke, shale, chert and banded iron formation (herein termed BIF), interleaved with several sills of dolerite and gabbro. The chert and BIF units define a prominent range of hills, whereas the sandstone and shale units, together with the mafic sills are recessive features. The BIF units become more cherty and less magnetic towards the east. These rocks are overlain by a ~100m thick sequence of thinly bedded shale, siltstone and fine grained sandstone with thin interbeds of chert. Bedding in the BIF’s generally dips at 45º to the east, although it can range between 25º and 75º. The BIF’s and cherts become progressively higher metamorphic grade in a northward direction (i.e. along strike). Overlying the fine grained sediments is a 250-600m thick composite dolerite and gabbro sill that is thickest in the centre of the area and thinnest at the southern limit of the mapping. To aid description this sill is herein termed the Lady Mary Sill. East of the Lady Mary Sill is a ~1500m thick sequence of basalt that displays pillow structures, amygdules, and rare variolitic flows. Interflow sediments are absent from this thick pile of basalt. Intruded into the basalt is ~1000m of dolerite spread over two dozen discrete sills ranging from 20m to 200m thick. The intrusions are generally conformable with the Lady Mary Sill to the west, although the dolerite intrusions do strike N-S along the eastern side of the mapped area. The eastern boundary of the mapped area was arbitrary; however a strong shear zone is present on the eastern flank of the easternmost outcrop mapped and coincides with a distinctive linear high in magnetic data. Intruding the basalt and dolerite rocks east of the Lady Mary Sill in the northern half of the mapping is a +4km2 area of massive granitoid, described as a monzonite by Arnold (2001). This intrusion appears to be the source of a swarm of NNW to N-S striking, non-porphyritic felsic to intermediate dykes. In general these dykes are conformable with the dolerite intrusions; however at several old mines they clearly transgress the dolerites. • The metamorphic grade of the Davyhurst area is described by Wyche & Witt (1994) as being low pressure and moderate to high temperature middle to upper amphibolite facies. • The structural setting of the Glasson-Callion area is relatively simple. Strain is strongly heterogenous, being partitioned into very narrow shear zones, leaving the neighbouring country rock largely undeformed. The BIF/chert sequence dips on average 45º to the east, although some variation in dipand strike is noted,and beddingis folded about mesoscopic,asymmetric, parasitic dragfolds with

17

Criteria	JORC Code explanation	Commentary
		consistent S-vergence. The drag folds are reclined, having fold axes plunging at a similar orientation to the dip of the long limbs. The mineralisation at Callion is associated with massive quartz veining or quartz vein stockworks. Mineralised quartz veins are situated both within narrow shear zones within mafic rocks,or at the contact between basalts and interflow felsic rocks.
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: o easting and northing of the drill hole collar o elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar o dip and azimuth of the hole o down hole length and interception depth o 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.	• See Significant Intercepts in Appendix 1 • The significant intercept table provides details of drill holes with intercepts of >= 1 gram metres, In cases where drilling has intercepted a lode position with grades below this value, NSI (no significant intercept) is listed. This provides context to the number of holes in the project area with significant gold intercepts versus the number of holes with lesser or no significant intercepts. • Widths reported in the Significant Intercepts table are all down hole lengths.
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.	• Original assays are length weighted. Grades are not top cut. Lower cut off is nominally 0.5g/t. Maximum 2m internal dilution. • No metal equivalents reported
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,	• All intercept widths reported are down hole lengths. No attempt has been made here to report true widths. • Generally, resource drilling was drilled at orientations perpendicular to the established trend of mineralisation.

18

Criteria	JORC Code explanation	Commentary
	_true width not known’). _
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.	• See plans and sections.
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.	• Results reported include both low and high gram metre (g/t x down hole length) values. • The significant intercept table provides details of drill holes with intercepts of >= 1 gram metres, In cases where drilling has intercepted a lode position with grades below this value NSI (no significant intercept) is listed. This provides context to the number of holes in the project area with significant gold intercepts versus the number of holes with lesser or no significant intercepts. • All the drilling in the project area is shown on the plan to show spatial context.
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.	Metallurgical and geotechnical work has been completed for numerous previously mined deposits, including Callion.
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.	• Further data evaluation and geological assessment of drilling conducted at the Callion deposit, followed by additional resource drilling where required. • Metallurgical and geotechnical core drilling planned for early 2020. • Geological and resource modelling followed by resource estimation.

19