OZAURUM RESOURCES LIMITED — Capital/Financing Update 2021

Jul 29, 2021

==> picture [154 x 49] intentionally omitted <==

ASX Announcement

• 30 July 2021

Patricia Gold Project – Visible Gold Intersected

OzAurum Resources Ltd ( ASX: OZM or OzAurum or the Company ) is pleased to announce that a Maiden twenty-eight hole Reverse Circulation (RC) program has commenced at the Patricia Gold Project with twenty four drill holes completed so far for 4,203m of drilling. The Patricia Gold Project is situated North East of Kalgoorlie.

Highlights

• Visible gold intersected in two RC holes PTORC 022 (154-155m) and PTORC 024 (156-157m).

==> picture [468 x 260] intentionally omitted <==

Photograph 1: PTORC024 156-157m panned visible gold

1

OzAurum Resources Limited ABN 63 643 244 544 Unit 1 15 Williams St, Kalgoorlie WA 6430 | PO Box 10396, Kalgoorlie WA 6430 | info@ozaurumresources.com

ASX | 30 July 2021

==> picture [75 x 24] intentionally omitted <==

Patricia RC Drilling Program

Visible gold has been intersected in two adjacent RC drill holes PTORC 022 and PTORC 024.

Visible gold in drill chips from PTORC 022 154-155 was first identified by OzAurum exploration geologist Hugo Serra whilst relogging RC drill chips.

Random drill chips were selected for Petrographic analysis from PTORC 022 (154-155m) and PTORC 024 (156-157) and in both samples free visible gold was observed - see photomicrographs 1 + 2 below. Associated with the free gold is electrum (gold silver alloy) pyrite and chalcopyrite.

A 2.5 kg sample of drill cuttings from PTORC 022 (154-155m) and PTORC 024 (156-157) were also panned off to confirm the presence of visible gold and with both intervals a significant tail of fine gold was observed – see photographs 1 + 2.

Drilling in very restricted areas around parts of the Patricia open pit has resulted in a planned RC drill pattern with hole spacing of 20m along the side of the pit. In some locations, a second hole was drilled 10m further from the pit, with the closest hole to pit crest at a -55° dip and the second hole at a -62° dip, allowing up to 60m separation between hole traces downhole at the planned target pierce point. The hole collars PTORC 022 and PTORC 024 are 40m apart but due to a change in azimuth direction drill traces will intersect downhole intervals with visible gold approximately 18m apart. The change in drill hole azimuth is required to remain perpendicular to the mineralisation.

Initial observations and the early interpretation of RC drill logging is demonstrating Patricia is a structurally complex project, potentially with late stage faulting that is offsetting lithologies and potential gold mineralisation. Planned diamond drilling will provide structural data to help to resolve this.

This twenty eight hole RC drilling program at Patricia is the first in over 30 years. We eagerly await drilling results from these first twenty four RC drill holes. The aim of this initial drilling program is to target high grade gold mineralisation immediately beneath the existing Patricia open pit. Unfortunately, two of twenty four RC holes drilled were abandoned due to ground conditions with the drill target not being reached in both these holes.

The RC rig is operating on a 3 week on 3 week off basis due to the slow sample turnaround currently being experienced at the sample laboratory now out to up to 10 weeks.

A significant amount time has been spent on the geological interpretation and 3D geological modelling of the Patricia high grade gold mineralisation, lithologies and potential controls to high grade gold mineralisation to date. Historical underground mine shafts, stopes and drives have also been modelled in 3D. This first drilling campaign will help us validate current modelling and the learnings from this drilling will also be used to update our current 3D models.

A Diamond drilling program has also been planned at Patricia and that will commence once the diamond drill rig can be mobilised to site in the coming months.

Patricia RC drilling has involved using a modern high pressure RC drilling rig with samples being drilled dry that are of a consistent sample weight. This high standard of drilling and sampling gives us confidence for a potential future JORC compliant resource to be estimated at Patricia.

Patricia Gold Project Geology and Background Information

The Patricia Gold Project is situated within the Celia Tectonic Zone that hosts numerous large gold deposits and operating gold mines including Sunrise Dam, Deep South, Safari Bore, Linden and the Anglo Saxon Gold Mine.

At the Patricia segment of the Celia Tectonic Zone the greenstone sequence consists of intermediate to felsic volcanics and volcaniclastics with interleaved ultramafic and banded iron formation. The Patricia Gold Project is situated on a significant flexure of the greenstone stratigraphy with the strike changing from 320° to 350° back to 320°. This change in strike direction represents a dilation jog which is a classic structural trap for gold fluids. Coincidently a large quartz porphyry body intrudes the greenstone sequence at this point.

2

ASX | 30 July 2021

==> picture [75 x 24] intentionally omitted <==

The historic Patricia Gold Mine was discovered in 1930 and mined underground up until 1937. During this time the Patricia Gold Mine produced 5,384 oz’s of gold from 4115 tonnes of ore at an average grade of 41 g/t Au.

Aztec Exploration Ltd commenced modern exploration in 1983 at Patricia. Aztec produced a very high quality dataset of geological information based on a RC drilling, diamond drilling, costeaning and geological mapping. Subsequently Aztec established an open mining operation in 1986 with small CIP treatment plant located onsite.

The current Patricia open pit is some 800m long x 150m wide and was mined to a depth of 25 metres.

OzAurum’s Chief Executive Officer, Andrew Pumphrey, said:

“For Patricia RC drilling to intersect visible gold in two RC holes is a great result and validates the high grade potential of the Patricia Gold Project. We eagerly await the assay results from this drilling.”

In the coming months as drilling results become available the company will be providing the market with regular updates.

==> picture [255 x 191] intentionally omitted <==

Photomicrograph 1: PTORC 022 154-155 free gold

==> picture [264 x 199] intentionally omitted <==

Photomicrograph 2: PTORC 024 156-157 free gold

3

ASX | 30 July 2021

==> picture [75 x 24] intentionally omitted <==

==> picture [452 x 655] intentionally omitted <==

Figure 1: Patricia RC collar location plan

4

ASX | 30 July 2021

==> picture [75 x 24] intentionally omitted <==

==> picture [449 x 654] intentionally omitted <==

Figure 2: Patricia RC collar plan with tenements

5

ASX | 30 July 2021

==> picture [75 x 24] intentionally omitted <==

==> picture [436 x 265] intentionally omitted <==

Photograph 2: PTORC022 154-155m panned visible gold

==> picture [439 x 268] intentionally omitted <==

Photograph 3: Patricia RC drilling OzAurum Exploration geologist Hugo Serra (L) and Senior Field Technician Russell Jones (R)

6

ASX | 30 July 2021

==> picture [75 x 24] intentionally omitted <==

==> picture [451 x 656] intentionally omitted <==

Figure 3: Patricia Gold Project Interpreted Geological Plan

7

ASX | 30 July 2021

==> picture [75 x 24] intentionally omitted <==

For Further Information please contact;

Andrew Pumphrey Managing Director + CEO +61 419 965 976

This ASX Announcement was approved and authorised by OzAurum’s Managing Director, Andrew Pumphrey.

About OzAurum

OzAurum Resources Ltd (ASX: OZM) is a Western Australian gold explorer with advanced gold projects located 130 km north east of Kalgoorlie. The Company’s objective to make a significant gold discovery that can be bought in production.

For more information on OzAurum Resources Ltd and to subscribe to our regular updates, please visit our website at www.ozaurumresources.com or contact our Kalgoorlie office via email on info@ozaurumresources.com .

==> picture [353 x 294] intentionally omitted <==

Competent Persons Statement

The information is this report that relates to exploration results is based on information compiled by Andrew Pumphrey who is a Member of the Australian Institute of Geoscientists and is a Member of the Australasian Institute of Mining and Metallurgy. Andrew Pumphrey is a full-time employee of OzAurum Resources Ltd and 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 Pumphrey has given his consent to the inclusion in this report of the matters based on the information in the form and context in which it appears.

8

ASX | 30 July 2021

==> picture [75 x 24] intentionally omitted <==

Table 1: RC drill hole collar details

Hole ID	Easting	Northing	mRL	depth (m)	Dip	Azimuth	From (m)	Length (m)	Comments
PTORC001	6697289	464042	340	140	-55	60
PTORC002	6697308	464034	340	140	-55	60
PTORC003	6697325	464023	340	43	-62	60			hole abandoned
PTORC004	6697344	464016	340	140	-55	60
PTORC005	6697378	463998	340	100	-55	60
PTORC006	6697395	463986	341	100	-55	60
PTORC007	6697392	464144	341	180	-55	240
PTORC008	6697375	464154	341	180	-55	240
PTORC009	6697380	464162	341	230	-62	240
PTORC010	6697358	464164	341	160	-55	240
PTORC011	6697362	464172	341	102	-62	240			hole abandoned
PTORC012	6697341	464172	341	150	-55	240
PTORC013	6697346	464182	342	220	-62	240
PTORC014	6697321	464177	341	160	-55	240
PTORC015	6697325	464185	342	218	-62	240
PTORC016	6697303	464185	341	160	-55	240
PTORC017	6697306	464192	341	220	-62	240
PTORC018	6697282	464188	341	170	-55	240
PTORC019	6697287	464197	341	210	-62	240
PTORC020	6697264	464197	341	180	-55	240
PTORC021	6697269	464206	341	210	-62	240
PTORC022	6697246	464207	341	190	-55	240	154	1	visible gold
PTORC023	6697251	464216	341	210	-62	240
PTORC024	6697207	464219	340	210	-55	255	156	1	visible gold

9

ASX | 30 July 2021

==> picture [75 x 24] intentionally omitted <==

JORC Code, 2012 Edition – Table 1 Report

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 (e.g. 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.	The Patricia Project –24 RC holes (PTORC 001 - 024 4,203m), azimuth 240°+ 60° dipping -58°+ -62°. The RC samples are collected from the drill rig cyclone in a green plastic bag in 1m intervals and are laid out in rows of either 20, 30 or 40 samples. A 2-4kg representative sample is split via the rig mounted cone splitter and placed on top of the green plastic for that metre interval. Diamond drilling completed using one metre sampling lengths, core half cut adjacent to bottom of hole orientation line. Aircore samples are laid out in rows of 10.
	Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.	All sampling is undertaken using OzAurum Resources sampling procedures and QAQC in line with industry best practise which includes certified standards and blanks every 30 samples. The RC drill rig provides a sample at the end of each metre of drilling. A 2-4 kg sample is collected from the drill rig via a cone splitter which is representative of that metre. PQ diamond core was half cut to produce a 2-4 kg sample for analysis. Aircore 4m composite samples weighing between 2-4 kg are collected from four one metre samples via a sample scoop with even quantities of each 1m sample collected to form the composite sample. At the EOH if the composite interval is less than 4m then that will be sample interval.
	Aspects of the determination of mineralisation that are Material to the Public Report.	Historic hole collars have been recovered where possible and surveyed by a licenced surveyor using a DGPS (0.01 m).
	In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from	The RC one metre sample intervals were collected with a 2-4 kg representative sample despatched to the laboratory for gold analysis.

10

ASX | 30 July 2021

==> picture [75 x 24] intentionally omitted <==

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
	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 (e.g. submarine nodules) may warrant disclosure of detailed information.	The diamond half core sample intervals were typically a 2-4 kg representative sample despatched to the laboratory for gold analysis. The AC composite and one metre sample intervals were collected with a 2-4 kg representative sample despatched to the laboratory for gold analysis. All analysis was by 50g fire assay with AAS finish with the exception of cases where visible gold has been observed or a fire assay grade has exceeded 100 g/t or coarse gold is suspected then a screen fire assay (Au-SCR22AA) has been undertaken on those samples and those results reported instead of the fire assay result.
Drilling techniques	Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. 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 RC drilling was undertaken using a face sampling percussion hammer using 137mm drill bits. The diamond drilling was undertaken using PQ3 (triple tube) and NQ3 (standard tube) techniques. The AC drilling was undertaken using a 75m blade bit and face sampling percussion hammer using 78mm drill bits.
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed.	Each metre of RC sample is checked, and an estimate of sample recovery is made. For this program, greater than 80% of samples had a recovery of 70% or higher. Sample weights reported by laboratory can also give an indication of recoveries. Drill core was measured and compared to drilled intervals and recorded as a percentage recovery. Recovery in oxidised rock can be reasonable whereas recovery in fresh rock is excellent. Each metre of AC sample is checked, and an estimate of sample recovery is made. For this program, greater than 80% of samples had a recovery of 70% or higher. Sample weights reported by laboratory can also give an indication of recoveries.
	Measures taken to maximise sample recovery and ensure representative nature of the samples.	Drillers’ experience is important. Steady drilling, using modern well maintained drilling equipment, regular cleaning of cyclone and splitter, pausing the drilling at each metre to allow sample to pass through drill string and reducing sample loss. Using a RC rig equipped with auxiliary and booster

11

ASX | 30 July 2021

==> picture [75 x 24] intentionally omitted <==

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
		compressors is critical to maintaining good RC sample recovery. Using professional and competent core drilling contractor minimises issues with sample recoveries through the use of appropriate drilling equipment techniques and drilling fluids suited to the particular ground conditions.
	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.	RC sample recoveries from the mineralised zones are generally high although some of the weathered material is lost in drilling (dust) and some natural voids do exist. No sample was lost from 2-4 kg split from cyclone that was submitted for analysis, some loss of sample occurred from large green bags and some bias may have occurred to that sample as water was flowing from sample bag – this sample has not been analysed and therefore will not affect results reported in this release. The core sample recovery in the transitional and fresh rock zones is very high and no significant bias is expected. Recoveries in oxidised rock were lower. AC sample recoveries from the are generally high although some of the weathered material is lost in drilling (dust). Although no exhaustive studies have been undertaken, no significant bias is expected, and any potential bias is not considered material at this stage of resource development.
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.	Each RC metre drilled underwent detailed logging through the entire hole with record kept of colour, lithology, degree of oxidation, and type and intensity of alteration veining and sulphide content. Diamond core metres underwent detailed logging through the entire hole with record kept of colour, lithology, degree of oxidation, and type and intensity of alteration, veining and sulphide content. Structural, density and geotechnical data is also collected on drill core. Each AC hole drilled underwent general logging through the entire hole with record kept of colour, lithology, degree of oxidation, and type and intensity of alteration veining and sulphide content.
	Whether logging is qualitative or quantitative in nature. Core (or costean,	All logging is qualitative in nature and included records of lithology, oxidation state

12

ASX | 30 July 2021

==> picture [75 x 24] intentionally omitted <==

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
	channel, etc) photography.	and colour with estimates of intensity of mineralisation, alteration and veining. Wet and dry photographs were completed on the core.
	The total length and percentage of the relevant intersections logged.	All drill holes were geologically logged in full (100%).
Sub-sampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken.	Core was half cut with a diamond saw with the same half always sampled and the other half retained in core trays. In some instances, oxidised and non- competent clay zones are carefully split in half using sampling wedge and sampled as half core.
	If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.	All RC sub-samples are collected via a cone splitter system mounted on the drill rig. An estimated 30% of samples were moist to wet in nature that passed through the cyclone – splitter system.
	For all sample types, the nature, quality and appropriateness of the sample preparation technique.	All samples were analysed via a 50 gram fire assay. Following that analysis in cases where visible gold has been observed or a fire assay grade has exceeded 100 g/t or coarse gold is suspected then a screen fire assay (Au-SCR22AA) has been undertaken on those samples and those results reported instead of the fire assay result. Sample preparation and analysis were completed by ALS in Kalgoorlie. When received, samples are processed by code PREP-31 - logged in tracking system and bar code attached, wet samples dried through ovens, fine crushing to better than 70% passing 2mm, split sample using riffle splitter, split of up to 1000g pulverised to >85% sample passing 75um.
	Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.	All sampling equipment and sample bags are kept clean at all times. The RC drill rig mounted cone splitter is adjusted to ensure that the 1m split sample weighs on average between 2-4kg. The cone splitter is cleaned using an air nozzle after every drill rod – 6m. OzAurum Resources sampling procedures and QAQC is used to maximise representivity of samples.
	Measures taken to ensure that the sampling is representative of the in situ	For drill core, the entire core is sampled at one metre intervals to ensure that samples are representative of the entire in-situ rock

13

ASX | 30 July 2021

==> picture [75 x 24] intentionally omitted <==

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
	material collected, including for instance results for field duplicate/second-half sampling.	being tested. The laboratory ensures that the entire sample submitted is crushed and split appropriately to provide a representative sub- sample. No duplicate samples are taken from the core
	Whether sample sizes are appropriate to the grain size of the material being sampled.	The sample sizes (0.5 kg to 4 kg) are considered appropriate for the style of mineralisation at Patricia. Half cut PQ diamond core samples over 1m length (normally at the end of hole) were up to 4kg.
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.	The nature, quality and appropriateness of the assaying and laboratory procedures are industry standard for Archaean mesothermal lode gold deposits. The fire assay technique will result in a total assay result. In cases where visible gold has been observed or a fire assay grade has exceeded 100 g/t or coarse gold is suspected then a screen fire assay (Au-SCR22AA) has been undertaken on those samples and reported instead of the fire assay result.
	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.	None of these tools are used
	Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.	Certified Reference Materials (standards) are purchased from an independent supplier of such materials. Blanks are made up from samples previously collected from other drill programs at Patricia that have analysed as less than detection Au values. A standard sample followed by a blank sample are inserted every 30thsample. A duplicate sample is taken every 30 samples. Evaluation of the OzAurum submitted standards and blanks analysis results indicates that assaying is accurate and without significant drift.
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel.	At least two different company personnel visually verified intersections in the collected drill chips. At least two different company personnel visually verified intersections in the diamond core. A representative sample of

14

ASX | 30 July 2021

==> picture [75 x 24] intentionally omitted <==

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
		each metre is collected and stored for further verification if needed. Drill core or core photos are used to verify drill intersections in diamond core samples.
	The use of twinned holes.	The spatial location and assaying accuracy of historical drilling was confirmed with RC and DD twinned holes.
	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.	Data collected in the form of spread sheets, for drill hole collars, surveys, lithology and sampling. All geological and field data is entered into Microsoft Excel spreadsheets with lookup tables and fixed formatting (and protected from modification) thus only allowing data to be entered using the OzAurum geological code system and sample protocol. Data is verified and validated by OZM geologists and stored in a Microsoft Access Database Data is emailed to database administrator Geobase Australia Pty Ltd for validation and importation into the database and periodically into a SQL database using Datashed.
	Discuss any adjustment to assay data.	No adjustments are made to the primary assay data imported into the database.
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.	Initial hole collars surveyed by licenced surveyor DGPS (0.01m). Diamond drill line by surveyed back sight and foresight pegs. Dip was checked with clinometer on drill mast at set up on hole. RC holes are surveyed by down hole surveys at 30m intervals using single shot “Reflex Camera +/- 0.10 by drill contractor. Diamond holes are surveyed by down hole surveys at 30m intervals using single shot “Reflex Camera +/- 0.10 by drill contractor. All holes are surveyed for deviation at end of hole by gyroscope method by drilling contractor using a hired Reflex gyro. This is normally inside rods but may be open hole for RC drilling. Final hole collar locations surveyed by licenced surveyor (Minecomp Pty Ltd) DGPS (0.01m).
	Specification of the grid system used.	The grid system used is Geocentric Datum of Australia 1994 (GDA94).

15

ASX | 30 July 2021

==> picture [75 x 24] intentionally omitted <==

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
	Quality and adequacy of topographic control.	Historical – Aerial photography used to produce digital surface topographic maps at 1:2500 1m contours. Topographic control is from an aerial photographic survey completed during 2018 with accuracy within 0.25m.
Data spacing and distribution	Data spacing for reporting of Exploration Results.	Drilling at Patricia is at: 20m line x 10m hole 20m line x 20m hole 40m line x 20m hole The holes reported in this release were on 20m spaced lines that are 20m apart along the lines.
	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.	The data spacing and distribution is sufficient to demonstrate spatial and grade continuity of the mineralised domains to support the potential future MRE classifications as Measured, Indicated and Inferred according to JORC (2012 Edition) reporting criteria.
	Whether sample compositing has been applied.	No sample compositing has been applied in the field within the mineralised zones.
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.	Diamond drill holes and RC holes were orientated 240° + 060° /-58° + -62° and 255° /-58° + -62° which is perpendicular to the shear zone hosting gold mineralisation and perpendicular to geology contacts.
	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.	It is not believed that drilling orientation has introduced a sampling bias as the dominant mineralised shear zone at Patricia hosting mineralisation strikes at 320° to 350° and dips -between vertical and -60° east and west.
Sample security	The measures taken to ensure sample security.	Chain of custody is managed by OZM. Field samples are stored overnight onsite at site office + camp facility (if not delivered to laboratory) with staff in residence who are employees of OzAurum. Field samples are delivered to the assay laboratory in Kalgoorlie by OZM personnel once the hole is completed. Whilst in storage at the laboratory, they are kept in a locked yard. ALS Geochemistry Webtrieve is used online to track the progress of batches of samples through the laboratory.

16

ASX | 30 July 2021

==> picture [75 x 24] intentionally omitted <==

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
		Sample pulps and coarse rejects are stored at ALS for a period of time and then returned to OZM.
Audits or reviews	The results of any audits or reviews of sampling techniques and data	No audits or reviews have been undertaken.

JORC Code, 2012 Edition – Table 2 Report

Section 2 Reporting of Exploration Results

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

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 Patricia Project is located approximately 150km north east of Kalgoorlie. The Patricia Project is situated within mining lease M31/487 and exploration licences E31/1083, E31/1186. This area is accessed from the Kalgoorlie-Edjudina Road via an unsealed access. The tenements are located within the Edjudina Pastoral Station. Normal Western Australian state royalties apply. No third party royalties exist. OZM has been granted a section 18 to undertake exploration drilling within Lake Reside mythological site 2708. OZM purchased the Patricia tenements M31/487, E31/1083 + P31/2063 on 19th October 2020 from A. Pumphrey. The tenements are held by OzAurum Mines Pty Ltd, a wholly owned subsidiary of OzAurum Resources Ltd.
	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 tenements are in good standing and no known impediments exist.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	Aztec Exploration Ltd Incorporated in between 1983 -1983 completed, 191 RC holes for 6,678m and 41 diamond holes for 4504.5m. In 1985 Aztec reported a combined reserve of 193,423 tonnes at 5.44 g/t Au.

17

ASX | 30 July 2021

==> picture [75 x 24] intentionally omitted <==

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Geology	Deposit type, geological setting and style of mineralisation.	The Patricia Au deposit is an Archaean mesothermal Au deposit. The Patricia local geology consists of a sequence of ultramafic, mafic, felsic – intermediate volcanic and volcaniclastic rocks, with interflow banded iron formations found on the lithological boundaries. Archean mafic intrusions are conformable within the sequence. The metamorphic grade of rocks at Patricia is amphibolite facies. The Patricia Project is found in a 500m long flexure of the shear zone where the strike changes from 320° to 350° and back to 320°. The alteration assemblage associated with higher Au grades consists of quartz and carbonate. Chalcopyrite, Pyrite and arsenopyrite mineralisation is associated with elevated Au grades at Patricia. Patricia gold mineralisation is found within a foliated ultramafic unit adjacent to lithological contact between ultramafic volcanic units and the Intermediate/felsic volcanic volcaniclastics. A later quartz feldspar porphyry intrusive is adjacent to known gold mineralisation.
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: 1. easting and northing of the drill hole collar 2. elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar 3. dip and azimuth of the hole 4. down hole length and interception depth 5. hole length.	Please refer to table 1 in the report for full details.
	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.	Other relevant drill hole information can be found in Section 1-“Sampling techniques, “Drilling techniques” and “Drill sample recovery”.

18

ASX | 30 July 2021

==> picture [75 x 24] intentionally omitted <==

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Data aggregation methods	In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated.	All one metre diamond drill results are reported in Appendix 1 Section 2 of JORC table 1. Holes include up to 2m of internal dilution - host unit was intersected in the 2m diluted section with significant alteration. A bottom cut off grade of 0.1 g/t was used, and no top cut grade was applied. The procedure applied to the aggregate intercepts quoted is length weighted average (sum product of interval x corresponding interval assay grade), divided by sum of interval lengths and rounded by one decimal place. No metal equivalent values have been reported.
	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.
Relationship between mineralisation widths and intercept lengths	These relationships are particularly important in the reporting of Exploration Results.	These drill holes are designed to drill as close as possible to perpendicular to the Patricia gold mineralisation that strikes at between 320°-350°. The dominant mineralisation geometries seen at the Patricia gold project are; 1. Shear zone hosted mineralisation on the which strikes between 320˚ -350˚ and is changes dip to the east and west between vertical and - 60°depending on location along the shear. The true width of mineralisation at the Patricia is reasonably well known from existing drilling and all drilling is designed to intersect the shear hosted mineralised envelope at 90° or close perpendicular to the strike of the Shear. The -60° planned dip of all drill holes results in the true width being 70% of the downhole intersection. For example, a downhole intersection of 10m has a true width of 7m.
	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 (e.g. ‘down hole length, true width not known’).

19

ASX | 30 July 2021

==> picture [75 x 24] intentionally omitted <==

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
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. (NOTE: Any map, section, diagram, or other graphic or photo must be of high enough resolution to clearly be viewed, copied and read without distortion or loss of focus).	Please refer to the body of the 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.	Please refer to table 1 in the body of the report.
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.	The diamond holes were also utilised for bulk density measurements.
Further work	The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling).	Further RC & Diamond drilling is planned to further test mineralisation associated with this release.
	Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive. (NOTE: Any map, section, diagram, or othergraphic orphoto must be of	Please refer to the body of the report.

20

ASX | 30 July 2021

==> picture [75 x 24] intentionally omitted <==

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
	high enough resolution to clearly be viewed, copied and read without distortion or loss of focus).

21