OZAURUM RESOURCES LIMITED — Capital/Financing Update 2025

May 6, 2025

ASX Announcement 7 May 2025

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New Cross Fault: RC Drilling Confirms Significant High-Grade Gold

OzAurum Resources Ltd ( ASX: OZM or OzAurum or the Company ) is excited to report additional significant results from its reverse circulation (RC) drilling program at the new Cross Fault gold discovery at its Mulgabbie North Gold Project. RC drilling continues to confirm the presence of high-grade gold mineralisation over a substantial 400-metre strike length, validating the potential of this newly identified discovery.

Highlights

• Significant high-grade gold confirmed at New Cross Fault Discovery, in Fresh Rock: Eight RC holes (five angled at 608m and three vertical at 209m for drill water supply) have further validated the New Cross Fault Discovery zone with further gold intersections in fresh rock.

• Additional RC Gold Intersections confirm New Cross Fault zone, including :

• 10m @ 1.80 g/t Au – (from 127m) – and 1m 3.91 g/t Au to end of hole (EOH) within 35m @ 0.79 g/t Au (from 103m) MNORC 251

• 8m @ 1.81 g/t Au – (from 68m) – within 22m @ 0.84 g/t Au MNORC 250

• 7m @ 2.17 g/t Au – (from 79m) MNORC 253

• 7m @ 1.25 g/t Au – (from 33m) – within 26m @ 0.75 g/t Au (from 29m) MNORC 229

• 4m @ 2.70 g/t Au – (from 18m) MNORC 249

• 4m @ 2.15 g/t Au – (from 73m) MNORC 252

• 1m @ 6.12 g/t Au – (from 76m) MNORC 252

• 1m @ 6.07 g/t Au – (from 41m) MNORC 252

• High-Grade Mineralisation Extends into Fresh Rock: RC drilling confirms and expands on previous air core (AC) results.

• Wide Zones of Sulphides Intersected: Indicating potential for significant gold endowment.

• Further Cross Fault Drilling Underway: Planning is in progress for infill and extensional RC drilling, along with a 2,500m AC drill program (subject to weathering depth) to the south to better understand the extensive faulting and outcropping quartz feldspar porphyry identified in recent mapping.

• Golden Goose RC hole: At the Golden Goose prospect, RC hole MNORC 257 has been reoriented 180 degrees, which intersected 10m @ 0.9 g/t Au.

• Enhanced Project Potential: New Cross Fault discovery (1.3km south of existing Mineral Resources), boosts the overall prospectivity of the 260,000 oz Mulgabbie North Gold Project*.

• 11.6 mt @ 0.70 g/t Au for 260,000 ounces of gold, reported at 0.3 g/t Au cut-off. See ASX announcement 18th July 2023 and Table 3.

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

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CEO and Managing Director, Andrew Pumphrey, commented:

"We continue to intersect significant gold mineralisation in fresh rock at the Cross Fault at Mulgabbie North with our RC drilling. The extension of this high-grade mineralisation into fresh rock, beyond the areas tested by previous air core drilling, significantly expands the potential scale of this discovery. The intersection of wide sulphide zones further bolsters our belief in the potential for a substantial gold system.

Our commitment to aggressively explore this exciting new area is unwavering. We are already planning the next phase of infill and extensional RC drilling, complemented by a significant 2,500-metre AC program to the south. This will allow us to better understand the structural controls and unlock further potential at the Cross Fault area.

Additionally, geological fieldwork along the Relief Shear continues to identify targets for further AC drilling at the Cross Fault area. I am particularly excited about the discovery of outcropping porphyry with quartz veining and former pyrite mineralisation occurring at the intersection of several faults and structures. This represents the southern extension of the Cross Fault area. The AC program will deepen our understanding of the fault offsets and, hopefully, intersect significant gold mineralisation.”

Mulgabbie North –AC drilling South Cross Fault target

OZM has received gold assay results from the recently completed 8-hole RC drilling programme (883 metres) which was drilled at the newly identified Cross Fault target area. The purpose of this program was to confirm earlier released AC drilling results and test for gold mineralisation extending into fresh rock.

Wide zones of pyrite and arsenopyrite mineralisation were observed in RC drill chips from multiple RC drill holes indicating significant gold mineralisation potential at depth.

Significant gold results received from OZM’s 8-hole RC drilling program include:

• 10m @ 1.80 g/t Au – (from 127m) – and 1m 3.91 g/t Au to EOH within 35m @ 0.79 g/t Au (from 103m) MNORC 251

• 8m @ 1.81 g/t Au – (from 68m) – within 22m @ 0.84 g/t Au MNORC 250

• 7m @ 2.17 g/t Au – (from 79m) MNORC 253

• 7m @ 1.25 g/t Au – (from 33m) within 26m @ 0.75 g/t Au (from 29m) MNORC 229

• 4m @ 2.70 g/t Au – (from 18m) MNORC 249

• 4m @ 2.15 g/t Au – (from 73m) MNORC 252

• 1m @ 6.12 g/t Au – (from 76m) MNORC 252

• 1m @ 6.07 g/t Au – (from 41m) MNORC 252

Several RC drill holes ended in significant gold mineralisation including:

• 10m @ 1.80 g/t Au – (from 127m) – and 1m 3.91 g/t Au EOH within 35m @ 0.79 g/t Au (from 103m) MNORC 251

• 15m @ 0.75 g/t Au EOH – (from 105m) MNORC 253

• 1m @ 1.50 g/t Au EOH - (from 64m) MNORC 229

OZM has completed two diamond drill holes for 220m, intended to understand the structure and lithogies at the Cross Fault targets. OZM’s strategy is to use RC drilling to indicate gold grade and diamond drilling to understand structure and lithology. OZM is planning further extensional and infill RC drilling at Cross Fault, with further RC holes at Golden Goose with results to be released when they become available..

As part of the latest program OZM drilled three vertical RC holes (MNORC 229, MNORC 249 and MNORC 255) to locate a suitable water supply for future drilling requirements at Cross Fault. OZM assays and logs these holes.

Laboratory turnaround times in Kalgoorlie have increased significantly due to an increase in gold exploration activity and assay results take up to 5 weeks to be received.

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Field mapping at the Cross Fault has identified exciting southern extension targets over a 400m strike length along the Relief Shear. OZM anticipates drilling up to 2,500m of AC with the drill rig expected to arrive onsite today.

The total AC metres is subject to the depth of weathering and hole locations will vary based on drill chip observations to maximise drill coverage.

Mapping has located a north-south structure that contains mineralised cross structures and intersects an outcropping porphyry with quartz veining and oxidised pyrite mineralisation. OZM will test this newly identified porphyry with RC drilling.

The new Cross Fault target is situated on the Relief Shear some 2km south of the 260,000 oz Mulgabbie North Project Mineral Resource (see Table 3) which is also situated on the Relief Shear.

Golden Goose

RC hole MNORC 257 at Golden Goose intersected 10m @ 0.90 g/t Au from 22m. The hole was drilled to further understand the gold mineralisation previously intersected there by OZM. MNORC 107, drilled in 2021, intersected 4m @ 1.48 g/t Au (from 30m) within 20m @ 0.68 g/t Au (refer to ASX release 8/11/2021), with deeper RC holes failing to intersect significant gold mineralisation. MNORC 257 was drilled in the opposite direction to MNORC 107and further RC drilling is planned.

Golden Goose is sandstone-hosted mineralisation that was originally named by Saracen Minerals in 2013. Saracen drilled two RC holes GGRC001 and GGRC002, with GGRC002 intersecting gold mineralisation hosted in sandstone.

Geological Discussion

Several faults have now been identified at the Cross Fault project area including an important early north south oriented fault and a number of late NE trending faults that have offset geology and gold mineralisation.

OZM has located quartz veins that strike north-south and dip steeply to the east in a costean within the high grade gold zone as well as other quartz veins that strike 315°. The north–south striking quartz vein set is potentially related to the north-south fault recently identified in the field. Extensive quartz veining is seen on the surface at the Cross Fault area, and OZM observes that quartz veining is associated with faults.

OZM now has several intersections of gold mineralisation in fresh rock. This is associated with quartz veining, pyrite and arsenopyrite mineralisation. Mineralisation is open at depth and will be targeted by future RC drilling.

OZM observes that north-south striking faults are associated with large gold deposits at Carosue Dam and other significant gold deposits in the Eastern Goldfields of WA.

Sandstone appears to be the dominant host of high grade gold mineralisation along with extensive quartz veining with pyrite and arsenopyrite mineralisation. OZM observes brittle quartz vein crack-seal textures along with brecciation in RC chips associated with higher gold grades.

Sandstones are a brittle host rock and host large gold deposits currently being mined in the Carosue Dam basin, approximately 2km from Mulgabbie North.

The Mulgabbie North project areas including the James, Ben and Alicia deposits are dominantly conglomerate-hosted gold deposits and are extensively foliated. This is a function of those rocks behaving in a ductile fashion. OZM’s observations indicate that the Cross Fault area appears to be a sandstone dominated lithology.

OZM observes this to be typical of intermediate volcaniclastic units where facies can vary from mudstone and sandstone through to conglomerate based on grainsize. The intermediate volcaniclastic comprises several facies and extends along the Relief Shear within OZM tenure for some 8kms and is the eastern limb of the Carouse Dam basin syncline. The western limb hosts the Carosue Dam mines, operated by Northern Star Limited (NST. refer to figure 6 – intermediate volcaniclastic coloured on the plan).

The diamond drilling has targeted theses high-grade RC intersections and fresh rock to enable OZM to understand this area better. OZM Intends further RC drilling at Cross Fault.

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Figure 1: Cross Fault RC drill hole location plan.

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Figure 2: Cross Fault cross section 7075N

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Figure 3: Golden Goose plan

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Figure 4: Golden Goose cross section 5875N

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Table 1: Selected RC drill results (please refer to table 2 for complete results)

Hole ID	Easting	Northing	mRL	depth (m)	Dip	Azimuth	From (m)	Length (m)	g/t Au	Comments
MNORC 251	444683	6661832	373.4	138	-60	225	103	35	0.79
						including	127	10	1.80
							138	1	3.91	EOH
MNORC 250	444701	6661814	373	130	-60	225	66	22	0.84
						including	68	8	1.81
MNORC 253	444558	6661929	376.8	120	-60	225	79	7	2.17
							105	15	0.75	EOH
MNORC 249	444564	6661805	373.6	72	-90	360	18	4	2.70
MNORC 229	444564	6661813	373.6	65	-90	360	29	26	0.75
						including	33	7	1.25
							64	1	1.50	EOH
MNORC 252	444574	6661886	375.6	120	-60	225	41	1	6.07
							48	5	1.43
							73	4	2.15
						including	76	1	6.12
MNORC 257	444598	6660055	353	66	-60	45	22	10	0.90	Golden Goose

• EOH = End of hole

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Figure 5: Mulgabbie North Gold Project AC drill area.

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Figure 6: OZM Projects - regional geology

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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 explorer with advanced gold projects located 130 km northeast of Kalgoorlie and projects in Minas Gerais, Brazil, prospective for niobium and REE. The Company’s objective is to make a significant discovery that can be brought into 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 Mr Jeremy Peters who is a Fellow of the Australasian Institute of Mining and Metallurgy and Chartered Professional Geologist and Mining Engineer of that organisation. Mr Peters is a full-time employee of Burnt Shirt Pty Ltd and has sufficient experience which is relevant to the reporting of Exploration Results for Western Australian Archaean orogenic gold mineralisation 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 Peters 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.

The information is this report that relates to Mineral Resources and 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.

The information relating to the mineral resource is extracted from the Company’s ASX announcement dated 18 July 2023 and is available to view on the Company’s website. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and, in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

Table 2: 1m RC drilling results > 0.1 g/t Au no more than 2m internal dilution at 0 g/t Au

Hole ID	Easting	Northing	mRL	depth (m)	Dip	Azimuth	From (m)	Length (m)	g/t Au	Comments
MNORC 229	444564	6661813	373.6	65	-90	360	0	4	0.36
							10	5	0.71
							22	4	0.84
							29	26	0.75
						including	33	7	1.25
							64	1	1.50	EOH
MNORC 249	444564	6661805	373.6	72	-90	360	18	4	2.70
							36	5	0.77
							49	1	0.52
							53	4	0.22
							60	1	0.23
							62	1	0.22
							68	4	0.23	EOH
MNORC 250	444701	6661814	372.7	130	-60	225	66	22	0.84
						including	68	8	1.81
							94	1	0.16
							123	1	0.12
MNORC 251	444683	6661832	373.4	138	-60	225	74	6	0.10
							88	1	0.22
							98	1	0.11
							103	35	0.79
						including	127	10	1.80
						including	138	1	3.91	EOH
MNORC 252	444574	6661886	375.6	120	-60	225	31	1	0.30
							41	1	6.07
							48	5	1.43
							56	8	0.83
						including	61	1	4.50
							69	4	0.25

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Hole ID	Easting	Northing	mRL	depth (m)	Dip	Azimuth	From (m)	Length (m)	g/t Au	Comments
							73	4	2.15
						including	76	1	6.12
							79	4	0.24
							84	3	1.57
							88	10	0.28
							101	3	0.15
							106	1	0.14
							113	1	0.92
MNORC 253	444558	6661929	376.8	120	-60	225	29	1	0.31
							38	2	0.12
							61	1	0.12
							63	1	0.11
							74	2	0.30
							78	1	0.27
							79	7	2.17
							105	15	0.75
MNORC 254	444498	6662017	377.7	100	-60	225	9	3	0.32
							21	1	3.57
							29	2	0.36
							38	2	0.22
							45	1	0.34
							49	12	0.29
							69	2	0.40
							82	3	0.19
MNORC 255	444680	6661674	371.7	72	-90	360	20	4	0.18
							28	4	0.8
MNORC 257	444598	6660055	352.6	66	-60	45	14	3	0.15	Golden Goose
							19	3	0.31
							22	10	0.9
							32	2	0.24
							36	1	0.31

• NSR = no significant result. EOH = End of hole

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Mulgabbie North Mineral Resource

Table 3: Mulgabbie North Mineral Resource Estimate

Mulgabbie North Gold Deposit	Mulgabbie North Gold Deposit	Mulgabbie North Gold Deposit
JORC 2012 Classification	Tonnes	Grade Au g/t	Ounces
Measured	1,475,000	0.82	39,000
Indicated	5,620,000	0.71	128,000
Inferred	4,543,000	0.85	93,000
Total Measured, Indicated and Inferred	11,638,000	0.70	260,000
Notes: The Minerals Resources are reported at 0.30 g/t Au cutoff to a depth of 150m below the surface. All numbers are rounded to reflect appropriate levels of confidence. Apparent difference may occur due to rounding.

Reported according to the 2012 JORC Code on 18 July 2023. Full details of the Mulgabbie North Mineral Resource estimate as per JORC Code (2012) are contained in the Company’s announcement dated 18 July 2023.

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JORC Code, 2012 Edition – Table 1 Report

Section 1 Sampling Techniques and Data

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. _	Reverse circulation (RC) sampling is undertaken for each metre, with drill chips being collected in a plastic bag. RC samples are laid out in rows of thirty samples near the drill collar. One metre samples weighing between 2 to 4 kg are collected from the rig mounted cone splitter.
	Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used.	QAQC includes certified standards and blanks inserted randomly and on average, one in every 30 samples.
	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 differential GPS (DGPS) with an implied horizontal accuracy of 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 metre sample intervals were collected with a 2 to 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 135mm 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.
	Measures taken to maximise sample recovery and ensure representative nature of the samples.	The supervising geologist was present during the drilling campaign and worked with the driller to ensure that drill samples were not compromised.
	Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to	RC sample recoveries from the drill hole are generally high although some of the weathered material is lost in drilling (dust).

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
	preferential loss/gain of fine/coarse material.	No exhaustive studies have been undertaken at Mulgabbie but in context to preliminary exploration, no significant bias is expected - and any potential bias identified in QAQC analysis is not considered material at this stage of exploration.
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 hole drilled underwent logging by a professional geologist 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.
	The total length and percentage of the relevant intersections logged.	All drill holes were geologically logged in full.
Sub-sampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken.	No core was collected in this campaign.
	If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.	RC samples are collected into a calico bag and plastic bag directly from the cone splitter mounted below the cyclone on the drilling rig. These are then laid out in lines of thirty samples for inspection by the supervising geologist.
	For all sample types, the nature, quality and appropriateness of the sample preparation technique.	Samples were one-metre intervals and samples analysed via a 50 gram fire assay. Sample preparation and analysis were completed by SGS & Jinnings Laboratories of Kalgoorlie. When received, samples are 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 3000g pulverised via LM5 mill 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. RC drilling is a preliminary exploration drilling technique and prone to some degree of bias. OZM has introduced sufficient blank, standard samples into its sample stream to permit identification and analysis of any bias.
	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.	RC samples are split via a cone splitter mounted beneath the cyclone, ensuring a uniform quantity is taken from metre.
	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.
	The nature, quality and appropriateness of	The nature, quality and appropriateness of the assaying andlaboratory procedures areindustry

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Quality of assay data and laboratory tests	the assaying and laboratory procedures used and whether the technique is considered partial or total.	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.
	The use of twinned holes.	The current RC drilling is exploratory an no direct twinning of holes has been engaged in.
	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.

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Location of data points	Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.	Initial hole collars surveyed by licenced surveyor DGPS (0.01m). Dip was checked with clinometer on drill mast at set up on hole. Final hole collar locations surveyed by licenced surveyor 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 50m and 100m 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 the presence of mineralisation for exploration purposes.
	Whether sample compositing has been applied.	RC samples are one metre intervals.
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.	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.	The Competent Person does not consider that drilling orientation has introduced a material 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.

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
		Sample pulps and coarse rejects are stored at Jinning 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 Mulgabbie North Project is located approximately 135km northeast of Kalgoorlie, 2.5km west of Carosue Dam gold mine. The Mulgabbie North project is situated within mining lease M28/240, prospecting licences 28/1356 + 28/1357 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 Mr A. Pumphrey. The tenements are held by OzAurum Mines Pty Ltd, a wholly owned subsidiary of OzAurum Resources Ltd. M28/364 a 2% Net Smelter Royalty applies on gold production in excess of 100,000 oz’s.
	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.

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	P28/1356 and P28/1357 - No historical mining activity is found at P28/1356 and P28/1357 other than shallow prospecting pits and shafts. OZM has described numerous historical exploration campaigns by a variety of companies. Of relevance to the current drilling is: Western Reefs Ltd in 1987- 1988 drilled 150 RAB holes for 3708m and 44 RC holes 2328m. Burdekin Resources Ltd in 1998 drilled 37 RAB holes 2391m. Gutnick Resources Ltd in 1999-2000 drilled 82 RAB holes for 3188m and 6 RC holes for 1978m. E28/3003- No Historical mining activity is found on E28/3003. Goldfields Exploration between 1995-1998 drilled 228 RAB holes for 7681m and 13 RC drill holes for 1300m Saracen gold Mines Pty Ltd 2012-2013 drilled 2 RC holes for 101m.
Geology	Deposit type, geological setting and style of mineralisation.	The Mulgabbie North Au deposit is an Archaean mesothermal Au deposit. The 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 is lower greenschist facies. The alteration assemblage associated with gold is quartz carbonate and sericite, pyrite and arsenopyrite. Mineralisation is found within the Relief Shear that occurs on a lithological contact between mafic/ultramafic volcanic/intrusives and Intermediate/felsic volcanic volcaniclastic. This contact represents a major trans lithospheric structure situated on the eastern margin of the Carosue Dam basin.
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	Please refer to table 1 in the report for full details.

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CRITERIA	JORC CODE EXPLANATION	COMMENTARY
	depth 5. hole length.
	If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	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.	Sample intervals are one metre samples submitted for assay. The results expressed in this Release are of the one metre samples and no grade cutting has been engaged in. Composites of elevated grade have been aggregated into mineralised intercepts based on raw composite assays and no modifications have been made to the raw data. 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 geometry seen at Mulgabbie North is: 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 its strike. 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’).

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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.	The Competent Person considers that selected results presented in Table 1 of this Report are balanced by full disclosure in Table 2.
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 drilling being reported has been directed by geological observations made in costeans and surface mapping, which is described in this Report.
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 diamond and RC 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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