OZAURUM RESOURCES LIMITED — Capital/Financing Update 2021

May 30, 2021

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ASX Announcement

31 May 2021

RC Drilling Identifies Wide Zone of Gold Mineralisation

OzAurum Resources Ltd ( ASX: OZM or OzAurum or the Company ) is pleased to announce further results from the Company’s initial 20,000 metre (m) Reverse Circulation (RC) drilling campaign, which have so far identified significant wide zones of gold mineralisation. The current RC results include 26 holes for 3,740m of drilling at the Mulgabbie North Project, situated North East of Kalgoorlie.

Highlights

• Significant wide zones of gold mineralisation intersected, with mineralisation open along strike and at depth.

• RC holes that intersected significant gold mineralisation, include:

• 20m @ 1.91 g/t gold (Au) – (within 46m @ 1.04 g/t Au from 73m) MNORC 040

• 9m @ 1.64 g/t Au – (within 52m @ 0.73 g/t Au from 102m) MNORC 041

• 4m @ 1.90 g/t Au – (within 35m @ 1.1 g/t Au from 124m) MNORC 042

• 6m @ 1.92 g/t Au – (from 35m) MNORC 045

• 6m @ 2.79 g/t Au – (from 200m) MNORC 051

• 4m @ 1.57 g/t Au – (from 153m) MNORC 055

• 7m @ 1.48 g/t Au including 1m @ 7.36 g/t Au – (from 36m) MNORC 051

• Numerous RC holes intersected higher grade gold mineralisation within wide, lower grade zones such as MNORC 041 with 52m of mineralisation intersected downhole.

• New gold zone identified west of the Ben Prospect, with primary gold mineralisation intersected at depth and associated with previously drilled aircore (AC) hole MNOAC 020 (see ASX Announcement 15[th] March 2021).

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OzAurum Limited ABN 63 643 244 544 42 Hannan St, Kalgoorlie WA 6430 | PO Box 10396, Kalgoorlie WA 6430 | 1 info@ozaurumresources.com

ASX | 31 May 2020

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• Maiden drilling campaign to commence at OZM's 100%-owned Patricia Gold Project with the aim of discovering further high-grade gold mineralisation.

• OzAurum director, Martin C Holland, appointed to an executive role as Head of Corporatecommencing 1 June 2021.

Mulgabbie North RC Drilling Results

The 26 holes that were drilled for 3,740m at the Mulgabbie North Project are a continuation of OzAurum’s initial 20,000m RC drilling campaign. A further 42 RC holes for 5,764m have also been drilled with assays still pending at the labs. To date, a total of 98 RC holes have been drilled at Mulgabbie North for 15,811m.

These excellent RC results, combined with recently announced aircore (AC) results defining new zones of mineralisation (see ASX announcement on 24 May 2021), further highlight the potential of Mulgabbie North to be a significant gold project.

Most notably, RC hole MNORC 040 intersected 20m @ 1.91 g/t Au from 25m within a wider zone of 46m @ 1.04 g/t Au. Numerous RC drill holes intersected higher grade gold mineralisation within wide lower grade intervals indicating Mulgabbie North is situated within a large mineralised gold system. Gold Mineralisation at Mulgabbie North is currently open at depth and along strike at both the Ben and James Prospects.

A new gold zone has been discovered south west of the Ben Prospect with MNORC 058 intersecting 19m @ 1.02 g/t from 112m depth. Our current interpretation is this deeper primary gold mineralisation is associated with previously intersected AC hole MNOAC 020 (see ASX release 15[th] March 2021).

A further 42 RC holes for 5,764m have been drilled testing Mulgabbie North’s previously discovered AC gold anomalies and the southern extension of the Ben Prospect. Some of these holes have intersected wide zones of quartz veining with associated pyrite and arsenopyrite mineralisation. At the Ben prospect a significant fault has also been intersected in 4 RC holes that has associated quartz veining and mineralisation. The Company is eagerly awaiting the results from these holes.

Wide zones of weak to moderate hematite alteration have been discovered in some RC holes at Mulgabbie North. Specifically, the hematite alteration indicates oxidised fluids from an intrusive complex suggesting proximity to the mineralising centre - likely to be within OzAurum’s 100% owned Mulgabbie North tenure.

The additional planned RC drilling at Mulgabbie North will further test strike and depth extensions of gold mineralisation at the James and Ben Prospects that are situated on the Relief Shear, as well as, western air core gold anomalies and associated mineralisation. Gold mineralisation at these prospects is hosted in the intermediate–felsic volcaniclastic units. The RC drilling program at Mulgabbie North will further scope out the extent of known mineralisation aimed at making a significant gold discovery.

Utilising best practice RC drilling, sampling and assay protocols will allow for a potential future JORC 2012 compliant resource to be estimated with confidence at Mulgabbie North. Systematic RC drilling is being undertaken on a 20m x 20m spacing and a limited number of historic + 33-year-old RC drill hole positions will be redrilled to meet JORC 2012 requirements.

Due to the current high demand on assay laboratories, the Company is experiencing long delays with receiving assay results, with up to an 8-week turnaround time.

Patricia RC Drilling to Commence

A maiden RC drilling program is planned at the Company’s advanced Patricia Gold Project, situated 40 km north east of Mulgabbie. The planned drilling program, which is expected to commence in the coming weeks, will target high-grade gold mineralisation. Historical high-grade gold intersections include PT 001 5m @ 18.8 g/t Au from 35m, including 1m @ 80 g/t Au. The 25m deep open pit at Patricia is 800m long and 150m wide.

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Martin Holland to take on Head of Corporate Role

OzAurum Non-Executive Director and major shareholder, Martin C Holland, will be moving over to an Executive Director role as the Head of Corporate allowing the Managing Director and CEO, Andrew Pumphrey, to focus on the geological and technical aspects of exploration at the Mulgabbie and Patricia Gold Projects in Western Australia. A summary of the Consultancy Agreement setting out the terms of Mr Holland's engagement is as follows:

• Commencement date: 1 June 2021

• Term: No fixed term

• Notice and termination: OzAurum may terminate the Consultancy Agreement at any time, by providing notice and paying the equivalent of three months of fees to Mr Holland. Mr Holland may terminate the agreement by providing three months’ prior written notice to OzAurum.

• Monthly fee:

• Other:

• Mr Holland is entitled to receive a consultancy fee of $11,666.67 (excluding GST) per month.

The Consultancy Agreement otherwise contains standard terms and conditions for an agreement of this nature, including in relation to termination, confidentiality and retention of intellectual property.

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

“The Company is very encouraged by the additional high-grade gold intercepts acheived through our RC drilling campaign thus far. These results, and the many results still pending in the assay labs, provide further confidence that ongoing RC drilling has the potential to unlock a significant gold project at Mulgabbie. In particular we are excited by the potential of this area where the host rocks are intermediate-felsic volcaniclastic units. In addition, the wide zones of Hematite alteration intersected in some deeper holes is very promising since this is a key signature of oxidised gold fluids, similar to that of Northern Star (ASX: NST) Carosue Dam Karari and Whirling Dervish Gold Mines. This area is under transported cover that has prevented previous effective exploration. ”

“Lastly, Martin’s executive appointment, as Head of Corporate, materially enhances OzAurum’s corporate marketing strategy, and allows me to be on the ground focusing on the Company’s strategic exploration program. We believe this aligned partnership enables the Company to fast track its objective of making a significant gold discovery,” Mr Pumphrey concluded.

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

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Figure 1: Mulgabbie North Planned drilling area

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Figure 2: Mulgabbie North RC drill collar plan

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Figure 3: Mulgabbie North RC cross section

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Table 1: Mulgabbie North RC Drill Holes Selected Results

Hole ID	Easting	Northing	mRL	depth (m)	Dip	Azimuth	From (m)	Length (m)	g/t Au	Comments
MNORC039	442049	6664911	376	160	-59.74	225.92	47	63	0.51
MNORC040	442063	6664924	376	160	-59.52	226.14	73	46	1.04
						including	88	20	1.91
						including	88	1	7.43
MNORC041	442077	6664938	375	180	-59.92	224.86	102	52	0.73
						including	143	9	1.64
MNORC042	442091	6664953	375	200	-58.74	226.02	124	35	1.1
						including	130	4	1.9
						including	146	1	10.15
							185	5	1.26
							195	4	1.7
MNORC045	442006	6664897	376	60	-59.67	227.98	13	6	1.92
MNORC046	442020	6664910	376	110	-60.39	224.25	29	11	1.22
MNORC047	442035	6664925	376	120	-60.46	224.02	42	41	1
						including	43	1	1.09
						including	59	7	2.07
						including	70	2	3.34
						including	71	1	5.31
						including	74	2	4.64
						including	75	1	6.35
MNORC048	442049	6664939	376	160	-60.07	226.67	126	13	1.14
						including	129	6	2.19
MNORC051	442091	6664980	375	250	-59.78	226.41	200	6	2.79
						including	202	1	6.74
MNORC054	442007	6664925	376	130	-60.05	223.6	27	4	1.46
							92	1	8.87
MNORC055	442021	6664939	376	170	-60.1	226.63	153	4	1.57
MNORC056	442035	6664953	376	160	-59.38	225.35	83	5	1.69
MNORC058	442525	6664066	375	160			112	19	1.02
MNORC059	442554	6664095	375	160			36	7	1.48
						including	40	1	7.36
							148	1	4.98
MNORC060	442223	6664471	375	140			74	7	1.26
MNORC061	442252	6664498	375	140			28	5	1.23
						including	31	1	4.88
MNORC062	442281	6664526	376	160			126	6	1.12
						including	128	1	4.3
MNORC063	442123	6664506	376	70			28	2	3.37
MNORC064	442152	6664533	377	160			28	2	2.71

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Table 2: Mulgabbie North RC Drill Holes – All Intercepts greater than 0.1 g/t Au and no more than 2 metres of internal waste. Greater than 1.0 g/t Au and 5.0 g/t Au reported separately.

Hole ID	Easting	Northing	mRL	depth (m)	Dip	Azimuth	From (m)	Length (m)	g/t Au	Comments
MNORC039	442049	6664911	376	160	-59.74	225.92	47	63	0.51
						including	61	1	1.93
						including	73	3	1.95
						including	82	4	1.17
						including	88	1	1.42
						including	101	1	1.53
							104	1	1.03
							118	20	0.72
						including	120	4	1.24
						including	134	4	1.18
MNORC040	442063	6664924	376	160	-59.52	226.14	73	46	1.04
						including	88	20	1.91
						including	88	1	7.43
							127	16	0.6
						including	128	1	1.33
						including	133	2	1.23
						including	137	1	1.71
MNORC041	442077	6664938	375	180	-59.92	224.86	102	52	0.73
						including	103	1	1.58
						including	116	1	1.07
						including	125	1	1.4
						including	143	9	1.64
MNORC042	442091	6664953	375	200	-58.74	226.02	124	35	1.1
						including	124	2	2.18
						including	130	4	1.9
						including	146	1	10.15
						including	147	1	1.32
						including	155	4	1.33
							185	16	0.96	EOH
						including	185	5	1.26
						including	195	4	1.7
MNORC043	442105	6664966	374	230	-60.21	225.04	149	22	0.53
						including	150	1	1.17
						including	160	2	1.48
						including	164	2	1.09
							219	1	1.23
MNORC044	441992	6664884	376	40	-60.22	224.92	1	6	0.35
MNORC045	442006	6664897	376	60	-59.67	227.98	13	6	1.92
						including	14	4	2.64
							45	12	0.35
MNORC046	442020	6664910	376	110	-60.39	224.25	23	22	0.77

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Hole ID	Easting	Northing	mRL	depth **(m) **	Dip	Azimuth	From (m)	Length (m)	g/t Au	Comments
						including	29	11	1.22
							83	12	0.42
MNORC047	442035	6664925	376	120	-60.46	224.02	42	41	1
						including	43	1	1.09
						including	59	7	2.07
						including	70	2	3.34
						including	71	1	5.31
						including	74	2	4.64
						including	75	1	6.35
							100	9	0.31
							115	6	0.33	EOH
MNORC048	442049	6664939	376	160	-60.07	226.67	71	45	0.46
						including	92	2	1.08
						including	95	1	1.01
						including	102	6	1.02
							126	13	1.14
						including	129	6	2.19
							144	5	1.02
						including	144	3	1.63
MNORC049	442063	6664952	376	180	-60.3	225.24	99	1	1.84
							118	31	0.56
						including	125	1	2.33
						including	133	1	1.74
						including	139	1	4.61
							159	2	1.02
MNORC050	442077	6664967	375	220	-59.45	225.89	121	14	0.39
						including	122	1	1.02
							133	35	0.53
						including	140	1	1.12
						including	151	8	1.21
							197	17	0.59
						including	199	3	1.14
MNORC051	442091	6664980	375	250	-59.78	226.41	148	24	0.45
						including	157	1	1.13
						including	163	2	1.22
							200	6	2.79
						including	202	1	6.74
MNORC052	441978	6664897	376	40	-59.6	227.36	28	2	1.34
MNORC053	441993	6664911	376	60	-60.5	226.2	0	6	0.32
							59	1	0.38
MNORC054	442007	6664925	376	130	-60.05	223.6	25	13	0.71
						including	27	4	1.46
							92	1	8.87

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Hole ID	Easting	Northing	mRL	depth **(m) **	Dip	Azimuth	From (m)	Length (m)	g/t Au	Comments
							114	6	0.97
MNORC055	442021	6664939	376	170	-60.1	226.63	39	39	0.56
						including	51	5	1.15
						including	63	1	1.14
						including	66	1	1.71
						including	72	1	1.01
							153	4	1.57
MNORC056	442035	6664953	376	160	-59.38	225.35	78	30	0.7
						including	83	5	1.69
						including	99	5	1.2
							118	2	1
							126	15	0.41
						including	128	2	1.47
MNORC057	442496	6664037	376	120	-60.23	226.65	36	2	0.74
							49	2	0.49
MNORC058	442525	6664066	375	160	-59.53	226.46	50	4	0.64
							63	5	1.05
							79	10	0.53
							112	19	1.02
MNORC059	442554	6664095	375	160	-60.73	226.13	30	1	1.8
							36	7	1.48
						including	40	1	7.36
							76	6	0.38
							86	8	0.45
							148	1	4.98
MNORC060	442223	6664471	375	140	-60.46	226.82	74	7	1.26
							112	9	0.34
MNORC061	442252	6664498	375	140	-60.66	228.34	28	5	1.23
						including	31	1	4.88
							39	4	0.3
							101	6	0.31
							112	7	0.31
							130	10	1.06
MNORC062	442281	6664526	376	160	-59.95	227.68	126	6	1.12
						including	128	1	4.3
MNORC063	442123	6664506	376	70	-59.91	224.82	28	2	3.37
MNORC064	442152	6664533	377	160	-59.93	227.03	28	2	2.71
							38	1	2.9
							64	5	0.3
							74	13	0.71
						including	80	4	1.81

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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 .

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Competent Persons Statement

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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.

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 Mulgabbie North Deposit – Ben Prospect 26 RC holes (MNORC 039 - 064 3,740m), azimuth 225° dipping -60°. 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 on average 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 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.

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
	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 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 RC one metre sample intervals were collected with a 2-4 kg representative sample despatched to the laboratory for gold analysis. 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 recoveryis made. For

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
		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 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 intensityof alteration,veining

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
		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, channel, etc) photography.	All logging is qualitative in nature and included records of lithology, oxidation state 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	All sampling equipment and sample bags are kept clean at all times.

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
	representivity of samples.	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 material collected, including for instance results for field duplicate/second-half sampling.	For drill core, the entire core is sampled at one metre intervals to ensure that samples are representative of the entire in-situ rock 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 Mulgabbie North. 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	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 Mulgabbie North that have analysed as less than detection Au values.

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
	have been established.	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 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.

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
		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).
	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 Mulgabbie North 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 current 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 225°/-60° 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 Mulgabbie North hosting mineralisation strikes at 315° and dips 70°NE.

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
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 Geocehmistry Webtrieve is used online to track the progress of batches of samples through the laboratory. 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. Z	e Mulgabbie North Project is located approximately 135km north east of Kalgoorlie, 2.5km west of Carosue Dam gold mine. The Mulgabbie North project is situated within mining lease M28/240 and exploration licence E31/1085. This area is accessed from the Kalgoorlie-Pinjin Road via an unsealed access. The tenements are located within the Pinjin Pastoral Station. rmal Western Australian state royalties apply. third party royalties exist. uated within the Mulgabbie North Project area are the reserves associated with the Mulgabbie Townsite Common. M purchased the Mulgabbie North property on 19th October 2020 from A. Pumphrey. The tenements are held by

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
		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. a	historical mining activity is found at Mulgabbie North. eeport of Australia Incorporated in between 1984 -1987 completed 15,101m of RAB drilling, 27 RC holes for 2,793m and 2 diamond holes for 313m. ralia Resources NL in 1988 completed 106 RAB holes for 3,942m and 10 RC holes for 549m. in Reef Gold Ltd estimated a Mineral Resource by a manual polygonal method at a 1 g/t cut-off a non JORC resource of 624,000 tonnes at 2 g/t. Pumphrey during 2000-2020 drilled 25 RAB holes for 1,274m, 9 AC holes for 593m, 15 RC holes for 1279m and 1 diamond hole 174m. Pumphrey during 2002-2020 drilled 1092 auger holes for 907m.
Geology	Deposit type, geological setting and style of mineralisation. u	e Mulgabbie North Au deposit is an Archaean mesothermal Au deposit. e Mulgabbie North local geology consists of a sequence of ultramafic, mafic felsic – intermediate volcanic and volcaniclastic rocks, with interflow carbonaceous sediments found on the lithological boundaries. Archean dolerite intrusions are conformable within the sequence. The metamorphic grade of rocks at Mulgabbie North is lower greenschist facies. e alteration assemblage associated with Better Au grades consists of quartz carbonate and sericite. Pyrite and arsenopyrite mineralisation is associated with elevated Au grades at Mulgabbie North. lgabbie North gold mineralisation is found within the Relief Shear that occurs on a lithological contact between mafic/ultramafic volcanic/intrusives and Intermediate/felsic volcanic volcaniclastic. is contact represents a major trans lithospheric structure situated on the

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
		eastern margin of the Carosue Dam basin. late east – west Proterozoic dolerite dyke Dissects mineralization at the Ben Prospect.
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”.
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.
	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

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
	in detail.	No metal equivalent values have been reported.
	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 perpendicular to the Relief Shear that strikes at 315°. The dominant mineralisation geometries seen at the Mulgabbie North gold project are; 1. Shear zone hosted mineralisation on the lithological contact which strikes 315˚ and is moderately dipping to the east at -75°. The true width of mineralisation at the Mulgabbie North is reasonably well known from existing drilling and all drilling is designed to intersect the Relief Shear mineralised envelope at 90° or perpendicular to the strike of the Relief 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’).
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	Please refer to table 1 in the body of the report.

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
	Results.
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 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.

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