OZAURUM RESOURCES LIMITED — Capital/Financing Update 2021

Mar 7, 2021

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ASX Announcement

8 March 2021

Outstanding Intercept of 4m at 10.26g/t Gold within 10m at 4.6 g/t Gold in Maiden RC Drill Program

OzAurum Resources Ltd ( ASX: OZM or OzAurum or the Company ) is pleased to announce the first Reverse Circulation (RC) drilling results from nine holes for 1929 meters (m) of drilling at its Mulgabbie North Project situated two kilometres from the Northern Star Resources (ASX: NST ) Carosue Dam Operations.

Highlights

• High grade gold mineralisation intersected, open along strike and at depth.

• Currently 31 RC holes totalling 6,327m and 137 Aircore holes totalling 9,781m already completed with remaining assays pending.

• Drilling ongoing to reach target stage 1 50,000m campaign.

• Strong cash position with A$12m raised at IPO in February 2021.

• All nine RC holes intersected significant gold mineralisation, including:

  • 4m @ 10.26 g/t gold (Au) – Including 1m @ 14.60 g/t Au (within 10m @ 4.6 g/t Au from 48m)

  • 8m @ 3.41 g/t Au – Including 1m @ 7.50 g/t Au, 1m @ 7.18 g/t Au and 1m @ 5.88 g/t Au (from 135m)

  • 7m @ 2.90 g/t Au – Including 2m @ 6.39 g/t Au (from 184m)

  • 7m @ 2.44 g/t Au – Including 1m @ 5.24 g/t Au (from 81m)

  • 6m @ 2.34 g/t Au (within 20m @ 1.25 g/t Au from 156m)

  • 1m @ 5.77 g/t Au (from 253m)

• Wide zones of Hematite alteration intersected in some deeper holes- a key signature of the adjacent Northern Star Karari and Whirling Dervish Gold Mines.

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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

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Mulgabbie North RC Drilling Results

The first nine holes drilled for 1929m are just the beginning of OzAurum’s initial 20,000m RC drilling campaign. All nine RC drill holes have intersected significant gold mineralisation in a highly altered intermediate/felsic volcaniclastic unit that is interpreted to be a stratigraphic equivalent to an Upper Black Flag unit. The key characteristic of this particular Upper Black Flag unit is the presence of fuchsite altered clasts within the mineralised clastic unit.

Gold Mineralisation at Mulgabbie North Ben Prospect is currently open at depth and along strike. Of particular interest is hole MNORC 011 that intersected 2m @ 6.39 g/t at 184 m downhole depth. This is an exciting target for future deep drilling.

Another important aspect of this drilling program was the intersection of wide zones of hematite alteration in some RC holes, which is the first time that this alteration style has been intersected at Mulgabbie North. Hematite alteration is the characteristic alteration of the adjacent Northern Star’s Karari and Whirling Dervish Gold Mines. The hematite alteration observed at the Ben Prospect is indicating oxidised fluids from an intrusive complex suggesting proximity to the mineralising centre - likely to be within OzAurum’s 100% owned Mulgabbie North tenure.

The planned RC drilling at Mulgabbie North will test strike and depth extensions of gold mineralisation at the James and Ben Prospects that are situated on the Relief Shear. Gold mineralisation at these prospects is hosted in the intermediate – felsic volcaniclastic units that is similar to Northern Star’s Karari and Whirling Dervish Gold Mines. The planned RC drilling program at Mulgabbie North will scope out the extent of known mineralisation aimed at making a significant gold discovery.

Utilising best practice RC drilling, sampling and assays 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.

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

“The Company is thrilled that we have been able to generate these high-grade intercepts so early on in our large-scale drilling campaign. In particular, we are excited by the potential of this area where the host rocks are intermediate-felsic volcaniclastic units- very similar to the Karari and Whirling Dervish Gold Mines. In addition, the wide zones of Hematite alteration intersected for the first time in some deeper holes is very promising since this is a key signature of the adjacent Northern Star Karari and Whirling Dervish Gold Mines. Lastly, this area is under transported cover that has prevented previous effective exploration.”

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 drill collar plan

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Figure 3: Mulgabbie North 8900N Cross Section

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Table 1: Ben Prospect Mulgabbie North RC Drill Holes Selected Results

Hole ID	Easting	Northing	mRL	depth (m)	Dip	Azimuth	From (m)	Length (m)	g/t Au
MNORC009	442476.04	6664300.148	373.027	200	-60.52	228.37	133	4	2.79
MNORC010	442489.623	6664313.387	373.083	240	-59.7	224.82	156	6	2.34
MNORC011	442502.365	6664326.98	373.118	290	-60.19	223.39	184	7	2.90
						including	184	2	6.39
							207	1	5.63
MNORC012	442435.286	6664258.355	372.854	89	-59.75	223.47	48	10	4.60
						including	51	4	10.26
MNORC013	442462.151	6664313.809	372.986	216	-60.27	227.14	135	8	3.41
						including	136	1	7.18
						including	138	1	5.88
						including	142	1	7.50
MNORC014	442475.953	6664327.716	373.143	300	-59.68	228.75	166	1	3.77
							252	7	1.34
						including	253	1	5.77
MNORC015	442493.082	6664343.377	373.324	324	-60.65	225.58	243	5	1.80
							244	2	3.22
MNORC016	442404.988	6664285.769	372.75	130	-59.89	225.12	127	1	2.72
MNORC017	442418.682	6664299.34	372.654	140	-60.08	225.03	80	20	1.25
						including	81	7	2.44
							82	1	5.24

Table 2: Ben Prospect 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
MNORC009	442476.04	6664300.148	373.027	200	-60.52	228.37	72	2	0.18
							101	5	0.23
							117	1	0.40
							126	12	1.04
						including	133	4	2.79
							141	4	0.31
							150	4	0.42
MNORC010	442489.623	6664313.387	373.083	240	-59.7	224.82	142	30	0.81
						including	156	6	2.34
							176	3	0.48
							186	1	0.89
							198	2	0.50
							208	2	0.57
MNORC011	442502.365	6664326.98	373.118	290	-60.19	223.39	87	1	0.29

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Hole ID	Easting	Northing	mRL	depth (m)	Dip	Azimuth	From (m)	Length (m)	g/t Au
							172	6	0.33
							181	11	2.08
						including	184	7	2.90
						including	184	2	6.39
							206	4	1.59
						including	207	1	5.63
							221	1	1.58
							231	1	1.63
							235	3	1.21
						including	236	1	2.89
MNORC012	442435.286	6664258.355	372.854	89	-59.75	223.47	46	18	2.66
						including	51	4	10.26
						including	51	1	7.45
						including	52	1	9.24
						including	53	1	14.60
						including	54	1	9.76
MNORC013	442462.151	6664313.809	372.986	216	-60.27	227.14	92	2	0.38
							97	7	0.26
							135	10	2.80
						including	136	1	7.18
						including	138	1	5.88
						including	142	1	7.50
							157	1	0.43
							185	4	0.84
						including	187	1	1.79
							188	1	1.02
							209	1	0.43
MNORC014	442475.953	6664327.716	373.143	300	-59.68	228.75	123	3	0.51
							130	4	0.80
						including	132	1	2.65
							157	11	1.09
						including	163	5	1.52
							206	10	0.53
							252	7	1.34
						including	253	1	5.77
MNORC015	442493.082	6664343.377	373.324	324	-60.65	225.58	88	2	1.40
							192	2	0.50
							202	12	0.45
							217	13	0.34
							243	5	1.80
						including	244	2	3.22
MNORC016	442404.988	6664285.769	372.75	130	-59.89	225.12	39	1	2.10
							46	3	0.31

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Hole ID	Easting	Northing	mRL	depth (m)	Dip	Azimuth	From (m)	Length (m)	g/t Au
							52	10	0.33
							86	3	0.31
							125	4	0.98
						including	127	1	2.72
MNORC017	442418.682	6664299.34	372.654	140	-60.08	225.03	73	27	1.1
						including	73	2	1.98
						including	80	20	1.25
						including	81	7	2.44
						including	82	1	5.24
							125	5	0.26

For Further Information please contact;

Andrew Pumphrey Managing Director + CEO Office: +61 8 9093 0039 Mob: +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

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	The Mulgabbie North Deposit – Ben Prospect 9 RC holes (MNORC 009 - 017 1929m), azimuth 225° dipping -60°. The RC samples are collected from the drill rig cyclone in a green plastic bag in 1m

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
	down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.	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.
	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

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
		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 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 largegreen bags and

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
		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, 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.

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
	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 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.

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
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 Mulgabbie North 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 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 onlyallowingdata to

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
		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).
	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.

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
	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.
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.

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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 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. Normal Western Australian state royalties apply. No third party royalties exist. Situated within the Mulgabbie North Project area are the reserves associated with the Mulgabbie Townsite Common. OZM purchased the Mulgabbie North property 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.	No historical mining activity is found at Mulgabbie North. Freeport 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. Auralia Resources NL in 1988 completed 106 RAB holes for 3,942m and 10 RC holes for 549m. Main 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. A. 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. A. Pumphrey during 2002-2020 drilled 1092 auger holes for 907m.

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Geology	Deposit type, geological setting and style of mineralisation.	The Mulgabbie North Au deposit is an Archaean mesothermal Au deposit. The 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. The 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. Mulgabbie North gold mineralisation is found within the Relief Shear that occurs on a lithological contact between mafic/ultramafic volcanic/intrusives and Intermediate/felsic volcanic volcanclastics. This contact represents a major trans lithospheric structure situated on the eastern margin of the Carosue Dam basin. A 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	Other relevant drill hole information can be found in Section 1-“Sampling techniques, “Drillingtechniques” and “Drill sample

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ASX | 8 March 2021

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
	understanding of the report, the Competent Person should clearly explain why this is the case.	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. 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 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 lithogical 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%
	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’).

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ASX | 8 March 2021

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
		of the downhole intersection. For example, a downhole intersection of 10m has a true width of 7m.
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	Please refer to the body of the report.

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
	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).

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