PEEL MINING LIMITED - Interim / Quarterly Report 2019

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March 2018 QUARTERLY REPORT 30 April 2019

Peel Mining Limited ASX code: PEX ACN: 119 343 734

Unit 1, 34 Kings Park Rd West Perth, WA 6005

Ph: (08) 9382 3955 Fax: (08) 9388 1025 E: [email protected] Web: www.peelmining.com.au

Contact: Rob Tyson Managing Director [email protected]

About Peel Mining Limited:

220 million shares in issue for ~$86m Market Capitalisation at 29 April 2019.
The Company’s projects cover more than 6,000 km[2] of highly prospective tenure with a focus on the Cobar Basin in NSW.
The 100%-owned Wagga Tank-Southern Nights project represents a potentially major zinc-rich polymetallic Cobar-type discovery and is currently the Company’s primary focus.
Mallee Bull is an advanced copperpolymetallic deposit that is subject to a feasibility study; the deposit remains open in many directions.
Cobar Superbasin Project Farm-in Agreement with JOGMEC offers funded, highlyprospective and strategic greenfields exploration potential and includes the exciting Wirlong copper discovery.
36.3% shareholding in Saturn Metals Ltd (ASX: STN) offers exposure to excellent gold assets in WA goldfields.

Highlights for March Quarter 2019

Infill drilling in the Southern Nights Central Zone continued to return strong intercepts and confirming high grade mineralisation over up to 180m of strike, and at depths of from ~120m to at least 350m below surface:
40m @ 10.2% Zn, 2.83 % Pb, 0.61% Cu, 49 g/t Ag, 1.04 g/t Au from 365m in WTRCDD166
26.63m @ 5.39% Zn, 1.36% Pb, 0.2% Cu, 48 g/t Ag, 0.34 g/t Au from 217.37m in WTRCDD165
33m @ 11.71% Zn, 5.65% Pb, 0.19% Cu, 147 g/t Ag and 1.25 g/t Au from 172m in WTRCDD175
23.1m @ 22.54% Zn, 12.0% Pb, 0.25% Cu, 200g/t Ag and 1.42g/t Au from 224m in WTRCDD199
9.0m @ 19.91% Zn, 9.55% Pb, 0.17% Cu, 220g/t Ag and 0.36g/t Au from 336m in WTRCDD189
17.0m @ 10.36% Zn, 6.05% Pb, 0.60% Cu, 401 g/t Ag and 1.86 g/t Au from 181m in WTRCDD179
Drilling along strike of Wagga Tank intersected broad zones of mineralisation highlighting the potential for further extensions
Drilling at Bedooba (CSPJV) intersected minor Cu mineralisation which combined with further DHEM identified a strong target to the south of drill hole BERC006

Plans for June quarter 2019

Maiden JORC Mineral Resource Estimate for Wagga tank -Southern Nights
Drilling and geophysics activities will continue within the Cobar Superbasin Project JV tenements; Bedooba follow-up planned
Mallee Bull JV development update

Peel Mining Limited – Quarterly Report March 2019

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Exploration

Wagga Tank/Mount View Projects: Copper, Silver, Gold, Lead, Zinc; Western NSW (PEX 100%). Targets : Cobar-style polymetallic mineralisation; Volcanogenic Massive Sulphide mineralisation.

The Wagga Tank project is located on the western edge of the Cobar Superbasin, ~130 km south of Cobar or ~30km northwest of Mount Hope and is host to the namesake polymetallic Cobar-style or VMS-type deposit with multiple significant historic drill intercepts. Mineralisation straddles a broad zone of intense tectonic brecciation and hydrothermal alteration (sericite-chlorite with local silicification) and occurs as sub-vertical elongate shoots/lenses. Drilling by Peel to date has focused on defining the geometry and extent of large-scale Zn-rich mineralisation at Wagga Tank-Southern Nights.

Following the exceptional results returned during the FY2019 Q2 drilling in the Southern Nights Central Zone, close spaced infill and extensional resource definition drilling resumed in this area after the Christmas/ New Year shutdown. The drilling programme was designed to better define the geometry and scale of the high-grade mineralisation in anticipation of completing a maiden mineral resource estimate. A total of 41 drill holes for approximately 13.5km of combined RC and Diamond drilling was completed this quarter as part of the programme.

Southern Nights Central Zone

Infill drilling in the Southern Nights Central Zone continued to return strong intercepts confirming high grade mineralisation over up to 180m of strike, and at depths of from ~120m to at least 350m below surface. Importantly, this mineralisation remains open down-dip/plunge.

Drilling to date has identified stratigraphic continuity to the high grade mineralization, with the shallower zone of mineralisation (<~250m below surface) being drilled at a nominal 20x20m drill spacing and the deeper zone of mineralisation (>~250m below surface) being drilled on a 40x40m drill spacing to define the overall size and geometry of the high grade mineralisation at depth. The drill density has been designed to deliver some of the shallower mineralisation into the Indicated mineral resource category.

Drilling so far has successfully defined the approximate dimensions of the high-grade mineralisation. Detailed structural and geochemical studies are also underway to further develop the geological model in preparation for the maiden mineral resource estimate, due for completion in June. This work will also assist in future drill targeting of additional high-grade zones in this large mineralised system. It is important to note the broader mineralisation is still open in all directions, with the Company primarily focused on defining the high-grade component in order to fast track any potential economic assessments and ultimately production scenarios.

Significant results for the quarter include:

Drillhole WTRCDD165 was drilled ~45m south of WTRCDD150 targeting ~40m further down dip at ~200m below surface. WTRCDD165 intersected 26.63m @ 5.39% Zn, 1.36% Pb, 0.2% Cu, 48 g/t Ag, 0.34 g/t Au from 217.37m including 12m @ 9.28% Zn, 1.99% Pb, 0.19% Cu, 59 g/t Ag, 0.37 g/t Au from 218m and 5.5m @ 7.21 g/t Au, 0.59% Cu, 13 g/t Ag, 0.78% Zn, 0.14% Pb from 325m to EOH .

Drillhole WTRCDD166 was drilled ~50m north and 100m west of WTRCDD150 targeting ~160m further down dip/plunge; north along strike. WTRCDD166 intersected 40m @ 10.2% Zn, 2.83 % Pb, 0.61% Cu, 49 g/t Ag, 1.04 g/t Au from 365m including 16.21m @ 16.91% Zn, 5.01% Pb, 0.43% Cu, 87 g/t Ag, 0.98 g/t Au from 366.23m and 5.63m @ 17.23% Zn, 3.75% Pb, 1.02% Cu, 49 g/t Ag, 1.44 g/t Au from 392.42m.

Peel Mining Limited – Quarterly Report March 2019

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Drillhole WTRCD167 was drilled ~40m south and 40m west of WTRCDD150 targeting ~100m down dip and south along strike (at ~300m below surface). WTRCDD167 intersected 13.17m @ 7.78% Zn, 3.6% Pb, 0.12% Cu, 248 g/t Ag, 0.55 g/t Au from 329m including 9m @ 10.81% Zn, 5.11% Pb, 0.18% Cu, 343 g/t Ag, 0.75 g/t Au from 330m. Drillholes WTRCDD166 and WTRCDD167, when coupled with drillholes WTRCDD153 and WTRCDD122, confirm significant down-dip continuity to the known high-grade mineralised structure at Southern Nights Central Zone.

WTRCDD175 was drilled approximately 30m up-dip of WTRCDD043 and crosscuts WTRCDD035 a historical hole which had been drilled down the dip of mineralisation. WTRCDD175 returned 33m @ 11.71% Zn, 5.65% Pb, 0.19% Cu, 147 g/t Ag and 1.25 g/t Au from 172m including 10.8m @ 27.49% Zn, 14.54% Pb, 0.5% Cu, 409g/t Ag and 3.16g/t Au. This drillholehole intersected a zone of significant shearing and experienced 2.2m of core loss from within the 32m mineralised interval. A value of zero was assigned to all elements in intervals of core loss which is considered conservative.

WTRCDD180 was drilled as a twin (+/- 5m) of drillhole WTRCDD150 to provide material for further metallurgical testwork and for Mineral Resource Estimate QA/QC purposes. Results for this twin hole showed excellent repeatability of those reported in WTRCDD150. WTRCDD180 returned 16.95m @ 43.25% Zn, 14.66% Pb, 1% Cu, 356g/t Ag and 3.11g/t Au from 179.15m against the intercept from WTRCDD150 previously reported as 18.2m @ 40.3% Zn, 15.21% Pb, 0.97% Cu, 356 g/t Ag and 2.77 g/t Au from 182m. Several narrower zones within the volcanoclastic unit were also intersected in WTRCDD180. The significant results from these zones are, 1.5m @ 2.21% Zn, 0.58% Pb, 0.4% Cu, 17g/t Ag and 0.57g/t Au from 207m and 6.0m @ 1.37% Zn, 0.51% Pb, 0.28% Cu, 4g/t Ag and 0.37g/t Au from 213m and 4.00m @ 1.13% Zn, 0.33% Pb, 0.07% Cu, 9g/t Ag and 0.1g/t Au from 245m.

Drillhole WTRCDD199 assay results included 23.1m @ 22.54% Zn, 12.0% Pb, 0.25% Cu, 200g/t Ag and 1.42g/t Au from 224m including 16.35m @ 28.09% Zn, 15.77% Pb, 0.26% Cu, 270g/t Ag and 1.80g/t Au from 224.75m . Drillhole WTRCDD199 is located approximately 50m northwest of WTRCDD150 and exhibits the same high-grade tenor.

Drillhole WTRCDD189 assay results included 9.0m @ 19.91% Zn, 9.55% Pb, 0.17% Cu, 220g/t Ag and 0.36g/t Au from 336m including 5.4m @ 29.26% Zn, 13.97% Pb, 0.22% Cu, 326g/t Ag and 0.45g/t Au from 337.2m. Importantly, this hole confirms continuity between the shallower mineralization previously reported in WTRCDD150 and the deeper mineralisation in WTRCDD166, approximately 170m down dip.

Drillhole WTRCDD179, drilled on an infill section in the south of the Central Zone approximately 100m south of drillhole WTRCDD150 returned assay results of 17m @ 10.36% Zn, 6.05% Pb, 0.60% Cu, 401 g/t Ag and 1.86 g/t Au from 181m including 3.0m @ 16.67% Zn, 6.78% Pb, 1.04% Cu, 437g/t Ag and 0.76g/t Au and 2.9m @ 30.34% Zn, 18.24% Pb, 0.19% Cu, 415 g/t Ag and 0.38 g/t Au from 193m. WTRCDD179 has confirmed continuity of the high-grade mineralization to the south increasing the strike length of the very high-grade zone.

The sampled intervals for holes WTRCDD179, WTRCDD189 and WTRCDD199 highlighted above do not represent the total mineralisation from each drill hole. High-grade intervals were selected by visual logging and pXRF, which were sent as a priority to the laboratory. Additional results for these holes are expected next quarter.

Drillhole WTRCDD169 and WTRCDD171 were drilled on an infill section in the south of the Central Zone approximately 50m south of drillhole WTRCDD150 and returned assay results of:

36.94m @ 3.41% Zn, 1.33% Pb, 0.04% Cu, 37g/t Ag and 0.13g/t Au from 285.06m including 3.94m @ 8.81% Zn, 4.45% Pb, 0.13% Cu, 176g/t Ag and 0.26g/t Au from 285.06m and 16m @ 2.16% Zn, 0.76% Pb, 0.01% Cu, 14g/t Ag and 0.06g/t Au from 328m in drillhole WTRCDD169; and

Peel Mining Limited – Quarterly Report March 2019

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6.21m @ 8.33% Zn, 4.02% Pb, 0.08% Cu, 63g/t Ag and 0.37g/t Au from 190m including 1.9m @ 16.64% Zn, 9.87% Pb, 0.16% Cu, 124g/t Ag and 0.70g/t Au from 191.12m and 4.25m @ 1.60% Zn, 0.26% Pb, 0.60% Cu, 20g/t Ag and 0.91g/t Au from 244m in WTRCDD171.

WTRCDD182 assay results returned 24.3m @ 5.07% Zn, 1.68% Pb, 0.17% Cu, 38g/t Ag and 0.40g/t Au from 232.9m (including 8.9m @ 11.35% Zn, 3.60% Pb, 0.29% Cu, 61g/t Ag and 0.66g/t Au ). This drillhole experienced 2.7m of core loss from the total zone and 0.8m of core loss from the included high-grade zone. A value of zero was assigned to all elements in intervals of core loss. This hole also intersected a deeper zone of mineralisation returning 28m @ 2.20% Zn, 0.64% Pb, 0.03% Cu, 10g/t Ag and 0.08g/t Au from 297m.

The true widths of mineralisation encountered in drillholes which are predominantly drilled to 090 azimuth are estimated at about 70-80% of the downhole widths. These results continue to confirm the understanding of the high-grade mineralisation which is thought to be steep westerly dipping.

Wagga Tank

During the quarter 2 holes were drilled north of the Wagga Tank prospect. These holes targeted historical arsenic and zinc anomalies in RAB drilling along strike from the main mineralisation at Wagga Tank. The holes WTRCDD178 and WTRC176 stepped out 80 and 200m respectively from the most northern drillhole at Wagga Tank.

These holes successfully intercepted wide low-grade zones with some narrow higher-grade intervals. The presence of this mineralisation, in close proximity to the contact between the Wagga Tank and Vivigani stratigraphic units, further highlights the potential for extension of both the Wagga Tank and Southern Nights deposits.

The best intercepts in these holes were:

Drillhole WTRCDD178 (drilled 80m north of Wagga Tank) returned assay results of 13.25m @ 1.74% Zn, 0.46% Pb, 0.01% Cu, 11 g/t Ag and 0.06 g/t Au from 302.75m including 1.0m @ 7.68% Zn, 1.32% Pb, 0.02% Cu, 37g/t Ag and 0.22g/t Au from 315m. The main interval included 1.2m of core loss which was assigned a value of zero.
Drillhole WTRC176 (drilled 200m north of Wagga Tank) returned assay results of 20m @ 1.25% Zn, 0.59% Pb, 0.06% Cu, 5 g/t Ag and 0.02 g/t Au from 234m including 2.0m @ 2.48% Zn, 1.17% Pb, 0.13% Cu, 9g/t Ag and 0.02g/t Au from 239m.

It was identified that the RC hole WTRC176 did not intersect the stratigraphic contact. A diamond tail is planned for next quarter to extend this hole and properly test this contact.

Next steps

– Wagga Tank Southern Nights

This phase of infill and extensional resource drilling will be completed during the next quarter at Wagga Tank-Southern Nights. The focus for the quarter will be the finalisation of all data and the generation of the geological and mineralisation models in preparation for completion of the maiden mineral resource estimate in June.

Peel Mining Limited – Quarterly Report March 2019

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Figure 1: Wagga Tank Project, main prospect location

Peel Mining Limited – Quarterly Report March 2019

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Figure 2: Wagga Tank-Southern Nights Drill Plan

Peel Mining Limited – Quarterly Report March 2019

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Figure 3: Wagga Tank-Southern Nights Long Section

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Cobar Superbasin Project: Copper, Silver, Gold, Lead, Zinc; Western NSW (PEX 100%).

Targets: Cobar-style polymetallic mineralisation; Volcanogenic Massive Sulphide mineralisation.

The Cobar Superbasin Project is subject to a Memorandum of Agreement with Japan Oil, Gas, and Metals National Corporation (JOGMEC). Details of the JOGMEC MoA can be found in Peel's ASX Announcement released on 30 September 2014. Exploration activities undertaken this quarter mainly focused on the Wirlong and Bedooba prospects. The Wirlong prospect represents a large hydrothermal system containing significant high-grade copper mineralisation. The Bedooba prospect is defined by a NE/SW trending magnetic anomaly with a coincident gravity high and geochemical anomaly.

Wirlong

The Phase 6 drilling program continued this quarter; two percussion drillholes with diamond tails (WLRCDD059 and WLRCDD060) were drilled in the central part of Wirlong. WLRCDD059 was drilled targeting a surface copper geochemical anomaly some 550m south of the main Wirlong prospect. WLRCDD060 was collared to replace drillhole WLRC058 from the preceding quarter which was abandoned due to excessive azimuth deviation. Both holes returned mineralised zones:

1.2m@ 1.09% Cu and 6 g/t Ag from 523, 0.65m @ 2.96% Cu, 0.17% Zn and 14 g/t Ag from 484.85, 2m@ 0.49% Cu and 0.3% Zn from 474m in WLRCDD059
1.2m @ 0.93% Zn and 0.44% Pb from 463m, 11.1m@ 0.68% Cu from 604.9m (including 1m@ 3.15% Cu from 615m), 1m @ 0.68% Cu from 620m and 1m@ 0.37% Cu from 623m in WLRCDD060

Further drilling is planned for Wirlong including the drilling of an EM conductor located between WLRCDD028 and WLRCDD055. Following a detailed structural study, interpretation of high-grade mineralisation geometry is believed to be at a different orientation than previously thought. This interpretation is planned to be tested during the next by changing the azimuth of new drillholes in the main high-grade zone.

Bedooba

Earlier this quarter, down-hole electromagnetic (DHEM) surveys were conducted on historic drillhole CBD013DD11 (Oz Minerals - 2011) and the four percussion drillholes (BERC001-004) drilled by Peel during the preceding quarter. A strong late time anomaly was detected in CBD013DD11 semi-coincident with strong gravity and magnetic anomalism. During the quarter, two percussion drillholes (BERC005 and BERC006) were drilled to target this conductor.

These holes were dominantly comprised of interbedded sediments with alternating sequence of volcaniclastics exhibiting weak to moderate alteration and minor disseminated to fracture filling sulphide mineralisation. Minor mineralisation was encountered within these holes with BERC005 (300m) intersecting 2m @ 0.18% Zn, 0.1% Pb and 0.82% Cu from 127m and 3m @ 0.11% Cu from 134m. BERC006 (378m) intersected 1m@ 0.11 % Cu from 205 and 1m@ 0.32% Cu from 295m.

DHEM was conducted in BERC006 with a very strong, off-hole, late time anomaly located to the south of drillhole. Re-interpretation of the previous DHEM from CBD013DD11 was conducted which supported the new location of the strong conductor. Follow-up drilling is planned for the next quarter.

Peel Mining Limited – Quarterly Report March 2019

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Figure 4: Wirlong Drill Plan on magnetics

Peel Mining Limited – Quarterly Report March 2019

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Figure 5: Wirlong X-Section

Peel Mining Limited – Quarterly Report March 2019

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Figure 6: Bedooba Drill Plan with assay on magnetics

Peel Mining Limited – Quarterly Report March 2019

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Figure 7: Bedooba Long Section (looking North)

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Figure 8: Cobar Superbasin Project Tenements and Prospect

Peel Mining Limited – Quarterly Report March 2019

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Mallee Bull Project: Copper, Silver, Gold, Lead, Zinc; Western NSW (PEX 50% and Manager, CBH 50%).

Targets: Cobar-style polymetallic mineralisation; Volcanogenic Massive Sulphide mineralisation.

The Mallee Bull project is a 50:50 Joint Venture with CBH Resources Limited (CBH). Drilling in the June 2017 quarter led to an update to the initial May 2014 maiden JORC compliant Mineral Resource with a 65% increase in total contained copper equivalent tonnes; the new estimate now comprises 6.76 million tonnes at 1.8% copper, 31 g/t silver, 0.4 g/t gold, 0.6% lead and 0.6% zinc (2.6% copper equivalent) containing approximately 119,000 tonnes of copper, 6.6 million ounces silver, 83,000 ounces gold, 38,000 tonnes of lead and 38,000 tonnes of zinc (175,000t copper equivalent) (using a 1% copper equivalent cutoff). Details of the update can be found in the announcement released 6 July 2017; "Mallee Bull Resource Grows 65% to 175,000 CuEq".

Mallee Bull Development Study

During the previous quarter, finalisation of studies into the conceptual development of Mallee Bull as a "dig and truck" operation under which ore would be milled at CBH’s Endeavor mine approximately 150km away where surplus milling capacity exists were completed. This work included remodelling of the upper parts (from surface to ~300m below surface) of the Mallee Bull mineral resource, mineable shape optimisation of the mineral resources, mine and infrastructure design, geotechnical engineering, additional flora and fauna investigations, and completion of the financial modelling of several development concepts. In December, the financial models for the development concepts were delivered to Peel’s joint venture partner CBH Resources for review and consideration.

During the quarter, Peel and CBH Resources held discussions regarding the Mallee Bull development concepts, and it was noted that CBH Resources parent entity Toho Zinc Co Ltd was completing final due diligence on a third-party project, and that this had impacted on Mallee Bull decision making.

Other Projects

No fieldwork was undertaken on any other project during the quarter.

Corporate

No corporate activity was completed during the quarter.

For further information, please contact Managing Director Rob Tyson on (08) 9382 3955.

Competent Persons Statements

The information in this report that relates to Exploration Results is based on information compiled by Mr Robert Tyson, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Tyson has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2004 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.’ Mr Tyson consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

Peel Mining Limited – Quarterly Report March 2019

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Wagga Tank-Southern Nights RC/Diamond Drill Collars

Hole ID	Northing	Easting	Azi	Dip	Final Depth(m)
WTRC172	6386330	378344.8	-60.27	88.43	150
WTRC173	6386330	378409.8	-58	85	149.4
WTRC176	6387610	379221.9	-51.78	309.54	288
WTRC181	6386448	378337.6	-57.54	86.48	150
WTRC183	6386380	378384.6	-60	85	151
WTRC185	6386452	378301.4	-57.45	85.2	150
WTRC186	6386454	378260.9	-57.58	81.88	150
WTRC191	6386378	378241.8	-61	88.87	150
WTRC194	6386301	378235.9	-60.2	85.7	150
WTRC195	6386258	378259.8	-60.73	85.38	150
WTRC205	6386175	378345	-60	85	151.5
WTRCDD166W1	6386385	378298.2	-58.2	84.61	519.9
WTRCDD168	6386315	378425.2	-60.51	82.615	294.4
WTRCDD169	6386290	378369.7	-60.41	84.55	360.6
WTRCDD170	6386415	378400	-60	85	363.5
WTRCDD171	6386289	378423.4	-60	85	338.6
WTRCDD174	6386415	378379.9	-60	85	351.6
WTRCDD175	6386330	378419.9	-60.37	90.03	298.3
WTRCDD177	6386245	378430.3	-55	85	274.8
WTRCDD178	6387503	379093.6	-50.3	310.1	372.1
WTRCDD179	6386247	378401	-53.98	84.09	303.9
WTRCDD180	6386330	378408.5	-57.87	79.25	299.3
WTRCDD182	6386380	378410.3	-60	85	360.5
WTRCDD184	6386360	378390	-58	88	321.3
WTRCDD187	6386420	378323.3	-58.12	82.16	421
WTRCDD188	6386419	378269.8	-58.4	84.8	482.1
WTRCDD188W1	6386419	378269.8	-58.4	84.8	538.7
WTRCDD189	6386140	378390	-57.7	90.3	420.5
WTRCDD190	6386419	378269.8	-60.85	87.54	495.2
WTRCDD190W1	6386387	378330	-60.85	87.54	191.9
WTRCDD192	6386383	378273.3	-60.58	85.93	456.7
WTRCDD193	6386383	378273.3	-60.64	87.75	579.8
WTRCDD196	6386350	378329.7	-60.72	85.68	525.2
WTRCDD197	6386341	378258	-60.72	85.97	474.5
WTRCDD199	6386280	378293.7	-57.01	78.96	306.2
WTRCDD200	6386218	378299.1	-59.39	81.57	462.4
WTRCDD201	6386345	378400	-62.57	80.84	428.8
WTRCDD202	6386330	378345	-54.82	83.08	333.4
WTRCDD203	6386265	378380	-60	85	411.5
WTRCDD204	6386245	378370	-59.47	83.22	405.5
WTRCDD206	6386355	378350	-60.08	87.52	297.2

Peel Mining Limited – Quarterly Report March 2019

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Wirlong Drill Collars

Hole ID	Northing	Easting	Azi	Dip	Final Depth (m)
WLRCDD059	6446250	418200	80.8	-56	751
WLRCDD060	6446430	418140	73.3	-67.7	700

Bedooba Drill Collars	Bedooba Drill Collars
Hole ID	Northing	Easting	Azi	Dip	Final Depth(m)
BERC005	6427760	401240	90	60	300
BERC006	6427780	401180	90	60	378

Peel Mining Limited – Quarterly Report March 2019

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Wagga Tank – Southern Nights Percussion/ Diamond Lab Assay Results received during the quarter

HOLE ID	FROM(m)	TO(m)	Zn(ppm)	Pb(ppm)	Cu(ppm)	Ag (ppm)	Au(ppm)
WTRCDD155	157.00	158.00	33,700	18,100	479	12	0.07
WTRCDD155	158.00	159.30	27,100	8,930	254	11	0.13
WTRCDD155	159.40	160.00	75,000	28,900	617	19	0.07
WTRCDD155	160.00	161.00	44,100	9,970	113	11	0.11
WTRCDD155	161.00	162.00	23,700	3,800	196	12	0.25
WTRCDD155	162.00	163.00	57,900	14,600	943	39	0.81
WTRCDD155	163.00	164.00	58,400	4,390	538	12	0.11
WTRCDD155	164.00	165.00	77,000	14,900	315	21	0.19
WTRCDD155	165.00	166.00	17,050	1,290	151	3	0.14
WTRCDD155	166.00	167.00	50,500	9,670	100	9	0.24
WTRCDD155	167.00	168.00	42,500	9,260	243	16	0.26
WTRCDD155	168.00	169.00	45,200	16,450	254	15	0.06
WTRCDD155	169.00	170.00	34,900	15,350	176	10	0.07
WTRCDD155	170.00	171.00	20,900	2,270	96	8	0.23
WTRCDD155	171.00	172.00	46,000	4,420	329	11	0.56
WTRCDD155	172.00	173.00	19,450	1,540	141	7	0.37
WTRCDD155	173.00	174.00	4,180	1,910	62	3	0.19
WTRCDD155	174.00	175.00	12,100	1,570	160	3	0.27
WTRCDD155	175.00	176.00	4,950	2,490	94	2	0.06
WTRCDD155	176.00	177.00	34,000	3,730	548	6	0.11
WTRCDD155	177.00	178.00	18,100	2,160	316	3	0.07
WTRCDD155	178.00	179.00	13,200	3,250	31	4	0.04
WTRCDD155	179.00	180.00	6,410	665	47	4	0.11
WTRCDD155	180.00	181.00	11,600	3,370	31	5	0.06
WTRCDD155	181.00	182.00	23,000	11,600	22	6	0.02
WTRCDD155	182.00	183.00	18,250	5,480	17	4	0.03
WTRCDD155	183.00	184.00	32,400	2,710	80	5	0.12
WTRCDD155	184.00	185.00	14,800	2,400	47	5	0.15
WTRCDD155	185.00	186.00	1,870	680	56	5	0.20
WTRCDD155	186.00	187.00	1,420	453	108	9	0.42
WTRCDD155	187.00	188.00	2,370	549	101	15	0.57
WTRCDD155	188.00	189.00	4,290	1,230	127	10	0.34
WTRCDD155	189.00	190.00	3,310	609	107	4	0.16
WTRCDD155	190.00	191.00	24,900	819	432	5	0.23
WTRCDD155	191.00	192.00	12,200	700	171	4	0.27
WTRCDD155	192.00	193.00	6,880	1,100	23	3	0.06
WTRCDD155	193.00	194.00	5,940	4,290	29	6	0.06
WTRCDD155	194.00	195.00	1,090	319	42	4	0.18
WTRCDD155	195.00	196.00	3,610	2,790	49	6	0.19
WTRCDD155	196.00	197.00	1,510	205	41	3	0.10
WTRCDD155	197.00	198.00	2,230	501	46	6	0.17
WTRCDD155	198.00	199.00	3,460	710	52	4	0.19
WTRCDD155	199.00	200.00	9,000	1,030	76	5	0.18
WTRCDD155	200.00	200.58	4,990	631	59	3	0.12
WTRCDD155	200.58	201.44	15,050	1,150	565	6	0.23
WTRCDD155	201.44	202.18	5,660	775	54	3	0.10
WTRCDD155	202.18	203.10	32,100	6,220	67	6	0.12
WTRCDD155	203.10	204.00	15,900	5,670	280	4	0.08
WTRCDD155	204.00	205.00	21,500	7,810	170	6	0.16
WTRCDD155	205.00	206.00	36,200	6,960	108	5	0.12
WTRCDD155	206.00	206.80	20,000	3,960	251	6	0.17
WTRCDD155	206.90	208.00	704	123	24	1	0.02
WTRCDD155	208.00	209.00	12,950	2,760	180	4	0.10

Peel Mining Limited – Quarterly Report March 2019

==> picture [138 x 69] intentionally omitted <==

HOLE ID	FROM(m)	TO(m)	Zn(ppm)	Pb(ppm)	Cu(ppm)	Ag (ppm)	Au(ppm)
WTRCDD155	209.00	210.00	32,000	5,670	677	10	0.15
WTRCDD155	210.00	211.00	50,200	13,900	2,720	25	0.31
WTRCDD155	211.00	212.00	13,450	3,900	138	7	0.13
WTRCDD155	212.00	212.70	9,320	2,150	150	6	0.18
WTRCDD155	212.80	214.00	18,200	4,510	1,910	16	0.29
WTRCDD155	214.00	215.00	6,720	2,240	275	8	0.18
WTRCDD155	215.00	216.00	1,360	459	72	3	0.03
WTRCDD155	216.00	217.00	1,190	151	76	2	0.04
WTRCDD155	217.00	218.00	16,950	2,370	5,730	23	0.16
WTRCDD155	218.00	219.00	7,850	2,800	121	7	0.07
WTRCDD155	219.00	220.00	5,400	3,510	519	12	0.09
WTRCDD155	220.00	221.00	32,000	7,640	11,350	55	0.52
WTRCDD155	221.00	222.00	4,200	2,690	682	7	0.09
WTRCDD155	222.00	223.00	1,520	483	192	3	0.08
WTRCDD155	223.00	224.00	803	231	45	1	0.04
WTRCDD155	224.00	225.00	6,420	1,340	336	4	0.07
WTRCDD155	225.00	226.00	1,340	521	24	2	0.07
WTRCDD155	226.00	227.00	376	71	12	0	0.02
WTRCDD155	227.00	228.00	404	65	29	0	0.02
WTRCDD155	228.00	229.00	1,510	792	27	1	0.02
WTRCDD155	229.00	230.00	1,130	347	12	1	0.01
WTRCDD155	230.00	231.00	1,900	328	26	4	0.14

WTRCDD156	142.00	143.00	308	68	54	2	0.03
WTRCDD156	143.00	144.00	361	109	51	2	0.02
WTRCDD156	144.00	145.00	1,260	407	93	6	0.04
WTRCDD156	145.00	146.00	110,000	65,200	464	207	0.14
WTRCDD156	146.00	147.00	28,100	14,650	416	50	0.18
WTRCDD156	147.00	148.00	34,800	15,600	615	37	0.19
WTRCDD156	148.00	149.00	71,200	18,500	411	26	0.24
WTRCDD156	149.00	150.00	94,100	10,250	798	26	1.08
WTRCDD156	150.00	151.00	54,800	16,050	247	24	0.53
WTRCDD156	151.00	152.00	91,600	30,000	1,280	48	1.53
WTRCDD156	152.00	153.00	37,400	13,450	701	26	0.45
WTRCDD156	153.00	154.00	35,800	17,400	961	28	0.59
WTRCDD156	154.00	155.00	67,000	6,660	1,460	13	0.53
WTRCDD156	155.00	156.00	26,400	6,720	2,130	23	1.08
WTRCDD156	156.00	157.00	77,300	14,600	1,145	26	0.70
WTRCDD156	157.00	158.00	73,200	10,300	358	23	0.31
WTRCDD156	158.00	159.00	58,300	4,150	525	22	0.67
WTRCDD156	159.00	160.00	20,200	2,230	167	10	0.44
WTRCDD156	160.00	161.00	9,530	3,550	167	7	0.35
WTRCDD156	177.00	178.00	1,130	273	25	4	0.18
WTRCDD156	178.00	179.00	5,310	472	67	4	0.13
WTRCDD156	179.00	180.00	11,800	722	297	7	0.15
WTRCDD156	180.00	180.60	1,230	717	101	10	0.28
WTRCDD156	180.60	181.60	10,900	4,280	442	17	0.44
WTRCDD156	181.60	182.80	2,250	693	46	6	0.17
WTRCDD156	182.80	184.00	3,570	1,330	70	11	0.27
WTRCDD156	184.00	185.00	5,460	772	50	12	0.10
WTRCDD156	185.00	186.00	20,400	3,060	57	12	0.09
WTRCDD156	186.00	187.00	23,900	4,970	62	14	0.10
WTRCDD156	187.00	188.00	11,500	1,485	53	8	0.09
WTRCDD156	188.00	189.00	6,330	669	64	7	0.09

Peel Mining Limited – Quarterly Report March 2019

==> picture [138 x 69] intentionally omitted <==

HOLE ID	FROM(m)	TO(m)	Zn(ppm)	Pb(ppm)	Cu(ppm)	Ag (ppm)	Au(ppm)
WTRCDD156	189.00	190.00	8,800	1,995	58	6	0.07
WTRCDD156	190.00	191.00	7,070	1,370	155	10	0.15
WTRCDD156	191.00	192.00	13,800	1,770	45	7	0.06
WTRCDD156	192.00	193.00	8,400	2,040	53	8	0.07
WTRCDD156	193.00	194.00	5,380	545	45	5	0.13
WTRCDD156	194.00	195.00	6,280	1,460	421	8	0.18
WTRCDD156	195.00	196.00	1,840	811	156	6	0.14
WTRCDD156	196.00	197.00	2,450	406	59	6	0.25
WTRCDD156	197.00	198.00	6,290	1,215	316	8	0.29
WTRCDD156	198.00	198.70	4,250	1,055	189	8	0.22
WTRCDD156	198.70	199.30	118,500	38,200	5,040	61	0.49
WTRCDD156	199.30	200.00	3,160	588	52	4	0.14
WTRCDD156	200.00	201.00	1,620	406	74	10	0.11
WTRCDD156	201.00	202.00	6,690	1,200	66	14	0.12
WTRCDD156	202.00	203.00	1,740	449	70	9	0.28
WTRCDD156	203.00	204.00	5,680	1,760	105	12	0.38
WTRCDD156	204.00	205.00	3,370	991	62	5	0.21
WTRCDD156	205.00	206.00	11,700	6,100	187	8	0.17
WTRCDD156	206.00	207.00	6,760	2,520	175	6	0.09
WTRCDD156	207.00	208.00	6,110	1,250	34	3	0.06
WTRCDD156	208.00	209.00	6,870	2,010	285	9	0.18
WTRCDD156	209.00	210.00	1,130	734	36	1	0.01
WTRCDD156	210.00	211.00	3,190	1,030	66	3	0.09
WTRCDD156	211.00	212.00	2,990	1,320	349	3	0.08
WTRCDD156	212.00	213.00	1,580	339	31	1	0.04
WTRCDD156	213.00	214.00	3,170	328	140	2	0.11
WTRCDD156	214.00	215.15	850	169	103	2	0.05
WTRCDD156	215.15	216.15	99,500	33,500	23,500	89	0.98
WTRCDD156	216.15	217.00	4,280	653	87	5	0.11
WTRCDD156	217.00	218.00	5,650	1,920	163	3	0.13
WTRCDD156	218.00	219.00	3,650	3,850	436	5	0.09
WTRCDD156	219.00	220.00	6,370	2,860	755	9	0.16
WTRCDD156	220.00	221.00	6,970	2,780	1,445	12	0.19
WTRCDD156	221.00	222.00	6,260	1,820	1,125	10	0.11

WTRCDD159	195.00	196.00	227	122	62	2	0.02
WTRCDD159	196.00	197.00	291	189	78	2	0.03
WTRCDD159	197.00	197.50	170,000	145,500	2,360	445	0.20
WTRCDD159	197.50	198.00	3,580	955	82	8	0.06
WTRCDD159	198.00	199.00	4,740	1,135	48	16	0.04
WTRCDD159	199.00	200.00	21,300	4,900	275	92	0.04
WTRCDD159	200.00	201.00	23,400	25,900	464	145	0.02
WTRCDD159	201.00	202.00	21,800	8,280	217	54	0.01
WTRCDD159	202.00	203.00	23,500	15,450	426	57	0.01
WTRCDD159	203.00	204.00	29,200	12,500	285	29	0.02
WTRCDD159	204.00	205.00	32,100	16,750	321	24	0.03
WTRCDD159	205.00	206.00	20,100	11,600	151	11	0.05
WTRCDD159	206.00	207.00	22,500	13,250	310	10	0.12
WTRCDD159	207.00	208.00	19,350	7,410	160	7	0.11
WTRCDD159	208.00	209.00	45,000	20,400	235	13	0.09
WTRCDD159	209.00	210.00	55,300	38,000	222	24	0.11
WTRCDD159	210.00	211.00	35,800	13,200	388	7	0.06
WTRCDD159	211.00	212.00	36,500	23,700	96	10	0.03
WTRCDD159	212.00	213.00	11,750	5,640	60	4	0.02

Peel Mining Limited – Quarterly Report March 2019

==> picture [138 x 69] intentionally omitted <==

HOLE ID	FROM(m)	TO(m)	Zn(ppm)	Pb(ppm)	Cu(ppm)	Ag (ppm)	Au(ppm)
WTRCDD159	213.00	214.00	9,660	4,120	178	3	0.03
WTRCDD159	214.00	215.00	6,790	5,750	232	4	0.02
WTRCDD159	215.00	216.00	78,600	6,470	456	13	0.16
WTRCDD159	216.00	217.00	17,950	3,800	236	10	0.08
WTRCDD159	217.00	218.00	3,960	1,555	153	6	0.08
WTRCDD159	218.00	219.00	1,340	1,415	68	5	0.05
WTRCDD159	219.00	220.00	1,890	500	47	4	0.03
WTRCDD159	235.00	236.00	5,130	1,230	192	3	-0.01
WTRCDD159	236.00	237.00	8,810	2,730	77	5	0.01
WTRCDD159	237.00	238.00	20,100	3,060	73	8	0.01
WTRCDD159	238.00	239.00	3,230	926	45	5	-0.01
WTRCDD159	239.00	240.00	9,120	2,820	97	8	0.01
WTRCDD159	240.00	241.00	5,310	1,285	75	4	0.02
WTRCDD159	241.00	242.00	2,770	621	42	3	0.01
WTRCDD159	242.00	243.00	2,760	766	32	3	0.01
WTRCDD159	243.00	244.00	5,330	1,290	48	4	-0.01
WTRCDD159	244.00	245.00	4,390	930	60	3	-0.01
WTRCDD159	245.00	246.00	2,340	764	26	2	-0.01
WTRCDD159	246.00	247.00	1,960	827	21	2	-0.01
WTRCDD159	247.00	248.00	3,190	955	28	2	0.01
WTRCDD159	248.00	249.00	2,690	1,100	25	2	-0.01
WTRCDD159	249.00	250.00	1,520	574	17	1	-0.01

WTRCDD163	0.00	6.00					0.07
WTRCDD163	6.00	12.00					0.01
WTRCDD163	12.00	18.00					-0.01
WTRCDD163	18.00	24.00					-0.01
WTRCDD163	24.00	30.00					-0.01
WTRCDD163	30.00	36.00					-0.01
WTRCDD163	36.00	42.00					-0.01
WTRCDD163	42.00	48.00					-0.01
WTRCDD163	48.00	54.00					-0.01
WTRCDD163	54.00	60.00					0.01
WTRCDD163	60.00	66.00					0.01
WTRCDD163	60.00	61.00	11	295	106	0	0.01
WTRCDD163	61.00	62.00	19	258	52	0	0.07
WTRCDD163	62.00	63.00	15	383	158	0	0.01
WTRCDD163	63.00	64.00	11	426	163	0	0.01
WTRCDD163	64.00	65.00	12	613	206	0	0.01
WTRCDD163	65.00	66.00	11	445	118	0	0.01
WTRCDD163	66.00	67.00	14	480	140	1	-0.01
WTRCDD163	66.00	72.00					-0.01
WTRCDD163	67.00	68.00	21	571	176	0	-0.01
WTRCDD163	68.00	69.00	13	1,440	73	1	0.01
WTRCDD163	69.00	70.00	10	1,380	103	1	-0.01
WTRCDD163	70.00	71.00	20	483	171	0	-0.01
WTRCDD163	71.00	72.00	52	454	383	1	0.01
WTRCDD163	72.00	73.00	20	272	166	1	0.01
WTRCDD163	72.00	78.00					-0.01
WTRCDD163	73.00	74.00	16	306	94	1	-0.01
WTRCDD163	74.00	75.00	19	425	283	2	-0.01
WTRCDD163	75.00	76.00	34	884	154	1	-0.01
WTRCDD163	76.00	77.00	46	533	192	2	-0.01
WTRCDD163	77.00	78.00	36	547	145	1	0.01

Peel Mining Limited – Quarterly Report March 2019

==> picture [138 x 69] intentionally omitted <==

HOLE ID	FROM(m)	TO(m)	Zn(ppm)	Pb(ppm)	Cu(ppm)	Ag (ppm)	Au(ppm)
WTRCDD163	78.00	79.00	28	626	121	1	-0.01
WTRCDD163	78.00	84.00					-0.01
WTRCDD163	79.00	80.00	47	921	122	1	-0.01
WTRCDD163	80.00	81.00	55	908	98	0	0.01
WTRCDD163	81.00	82.00	37	734	119	0	-0.01
WTRCDD163	82.00	83.00	28	434	59	0	-0.01
WTRCDD163	83.00	84.00	105	964	324	0	-0.01
WTRCDD163	84.00	85.00	130	1,600	300	0	0.01
WTRCDD163	84.00	90.00					-0.01
WTRCDD163	85.00	86.00	66	1,650	76	0	-0.01
WTRCDD163	86.00	87.00	72	1,330	86	0	0.01
WTRCDD163	87.00	88.00	69	920	66	0	0.02
WTRCDD163	88.00	89.00	79	504	66	0	0.01
WTRCDD163	89.00	90.00	97	440	76	0	-0.01
WTRCDD163	90.00	96.00					-0.01
WTRCDD163	90.00	91.00	136	1,180	112	0	0.01
WTRCDD163	91.00	92.00	233	1,000	210	0	-0.01
WTRCDD163	92.00	93.00	194	588	147	0	-0.01
WTRCDD163	93.00	94.00	247	680	143	0	0.02
WTRCDD163	94.00	95.00	134	1,210	149	0	-0.01
WTRCDD163	95.00	96.00	94	1,530	154	0	-0.01
WTRCDD163	96.00	97.00	69	1,080	178	0	-0.01
WTRCDD163	96.00	99.00					0.01
WTRCDD163	97.00	98.00	67	1,420	87	0	-0.01
WTRCDD163	98.00	99.00	35	1,120	57	0	-0.01
WTRCDD163	99.00	100.00	22	545	36	1	-0.01
WTRCDD163	99.00	100.00	30	1,180	59	2	-0.01
WTRCDD163	100.00	101.00	39	846	4,350	8	-0.01
WTRCDD163	101.00	102.00	39	902	4,130	7	0.05
WTRCDD163	102.00	103.00	48	90	108	1	0.01
WTRCDD163	103.00	104.00	39	145	989	1	0.01
WTRCDD163	104.00	105.00	59	1,465	153	0	-0.01
WTRCDD163	105.00	106.00	41	91	312	1	0.02
WTRCDD163	106.00	107.00	72	1,015	1,945	3	0.02
WTRCDD163	107.00	107.50	36	833	4,270	4	0.08
WTRCDD163	200.00	201.00	1,640	6,290	132	2	0.04
WTRCDD163	201.00	202.00	3,200	10,350	252	5	0.01
WTRCDD163	202.00	203.00	1,440	5,420	89	3	0.01
WTRCDD163	203.00	204.00	13,300	20,800	466	13	0.03
WTRCDD163	204.00	205.20	2,740	16,650	993	6	0.04
WTRCDD163	205.30	206.00	622	8,270	4,420	28	0.07
WTRCDD163	206.00	207.00	748	1,400	7,400	40	0.42
WTRCDD163	207.00	208.00	117	671	1,580	15	0.98
WTRCDD163	208.00	209.00	219	4,020	119	8	0.96
WTRCDD163	209.00	210.00	175	753	474	26	0.90
WTRCDD163	210.00	211.00	191	931	5,620	45	0.94
WTRCDD163	211.00	212.00	570	2,590	260	2	0.02
WTRCDD163	212.00	213.00	5,940	25,600	807	9	0.16
WTRCDD163	213.00	214.00	8,260	11,250	437	10	0.21
WTRCDD163	214.00	215.00	8,830	40,700	267	14	0.11
WTRCDD163	222.00	223.00	6,870	1,540	88	6	0.08
WTRCDD163	223.00	224.00	7,780	2,260	100	5	0.02
WTRCDD163	224.00	225.00	12,450	4,050	167	13	0.08
WTRCDD163	225.00	226.00	9,720	2,610	76	7	0.05

Peel Mining Limited – Quarterly Report March 2019

==> picture [138 x 69] intentionally omitted <==

HOLE ID	FROM(m)	TO(m)	Zn(ppm)	Pb(ppm)	Cu(ppm)	Ag (ppm)	Au(ppm)
WTRCDD163	226.00	227.00	9,810	2,890	60	7	0.04
WTRCDD163	227.00	228.00	22,800	8,770	76	14	0.08
WTRCDD163	228.00	229.00	22,100	5,860	102	13	0.14
WTRCDD163	229.00	230.00	9,830	1,830	64	6	0.05
WTRCDD163	230.00	231.00	4,360	2,370	86	4	0.06
WTRCDD163	238.00	239.00	3,430	2,440	199	4	0.07
WTRCDD163	239.00	240.00	1,350	2,990	155	5	0.04
WTRCDD163	255.00	256.00	1,520	1,770	159	3	0.01
WTRCDD163	256.00	257.00	50,000	267	41	2	0.04
WTRCDD163	257.00	258.00	46,200	5,840	151	7	0.05
WTRCDD163	258.00	259.00	6,110	6,260	192	13	0.12
WTRCDD163	259.00	260.00	20,500	18,200	205	25	0.14
WTRCDD163	260.00	261.00	21,400	5,350	297	12	0.09
WTRCDD163	261.00	262.20	4,300	8,290	199	16	0.07
WTRCDD163	263.10	264.30	7,310	4,890	200	8	0.03

WTRCDD164	0.00	6.00					-0.01
WTRCDD164	6.00	12.00					0.02
WTRCDD164	12.00	18.00					-0.01
WTRCDD164	18.00	24.00					-0.01
WTRCDD164	24.00	30.00					-0.01
WTRCDD164	30.00	36.00					-0.01
WTRCDD164	36.00	42.00					-0.01
WTRCDD164	42.00	48.00					-0.01
WTRCDD164	48.00	54.00					0.02
WTRCDD164	50.00	51.00	10	98	111	0	-0.01
WTRCDD164	51.00	52.00	5	69	52	2	0.01
WTRCDD164	52.00	53.00	4	16	34	1	-0.01
WTRCDD164	53.00	54.00	6	16	31	1	0.02
WTRCDD164	54.00	55.00	6	30	39	2	0.01
WTRCDD164	54.00	60.00					-0.01
WTRCDD164	55.00	56.00	17	60	40	1	0.01
WTRCDD164	56.00	57.00	4	37	12	8	0.01
WTRCDD164	57.00	58.00	4	12	18	1	-0.01
WTRCDD164	58.00	59.00	6	16	108	2	0.01
WTRCDD164	59.00	60.00	4	23	42	1	0.02
WTRCDD164	60.00	61.00	4	88	98	0	0.01
WTRCDD164	60.00	66.00					-0.01
WTRCDD164	61.00	62.00	14	20	39	1	-0.01
WTRCDD164	62.00	63.00	21	57	69	0	-0.01
WTRCDD164	63.00	64.00	15	11	50	1	-0.01
WTRCDD164	64.00	65.00	20	17	112	1	-0.01
WTRCDD164	65.00	66.00	8	16	104	2	0.01
WTRCDD164	66.00	67.00	39	23	153	1	0.01
WTRCDD164	66.00	72.00					-0.01
WTRCDD164	67.00	68.00	7	27	85	0	0.01
WTRCDD164	68.00	69.00	24	18	39	0	0.01
WTRCDD164	69.00	70.00	6	27	133	2	0.01
WTRCDD164	70.00	71.00	8	27	125	0	0.01
WTRCDD164	71.00	72.00	10	24	59	0	0.01
WTRCDD164	72.00	73.00	6	20	75	0	0.01
WTRCDD164	72.00	78.00					-0.01
WTRCDD164	73.00	74.00	8	20	51	0	0.01
WTRCDD164	74.00	75.00	19	13	48	0	0.01

Peel Mining Limited – Quarterly Report March 2019

==> picture [138 x 69] intentionally omitted <==

HOLE ID	FROM(m)	TO(m)	Zn(ppm)	Pb(ppm)	Cu(ppm)	Ag (ppm)	Au(ppm)
WTRCDD164	78.00	84.00					-0.01
WTRCDD164	84.00	90.00					-0.01
WTRCDD164	90.00	96.00					0.01
WTRCDD164	96.00	102.00					0.01
WTRCDD164	102.00	108.00					0.01
WTRCDD164	108.00	114.00					0.01
WTRCDD164	114.00	120.00					0.01
WTRCDD164	120.00	126.00					0.01
WTRCDD164	126.00	132.00					0.01
WTRCDD164	132.00	138.00					0.01
WTRCDD164	138.00	144.00					-0.01
WTRCDD164	144.00	149.00					0.01
WTRCDD164	150.00	151.00	2,670	2,400	226	1	0.03
WTRCDD164	151.00	152.00	205	935	1,165	1	0.01
WTRCDD164	152.00	153.00	1,720	1,910	32	1	0.01
WTRCDD164	153.00	154.00	706	1,350	115	0	0.02
WTRCDD164	154.00	155.00	221	809	45	0	0.01
WTRCDD164	201.00	202.00	101	40	6	0	0.01
WTRCDD164	202.00	202.88	272	521	12	1	0.03
WTRCDD164	202.88	204.10	18,300	9,890	31	11	0.07
WTRCDD164	204.10	204.82	1,360	373	20	4	0.05
WTRCDD164	204.82	206.00	15,700	1,765	70	4	0.11
WTRCDD164	206.00	207.00	5,200	2,260	66	4	0.09
WTRCDD164	207.00	208.00	148	235	8	5	0.02
WTRCDD164	208.00	209.00	380	136	9	0	0.02
WTRCDD164	209.00	210.00	333	150	19	3	0.03
WTRCDD164	210.00	211.00	1,660	299	48	7	0.03
WTRCDD164	211.00	212.00	3,830	1,680	258	3	0.06
WTRCDD164	212.00	213.00	2,960	2,240	18	10	0.01
WTRCDD164	213.00	214.00	8,250	9,390	58	14	0.02
WTRCDD164	239.00	240.00	8,210	2,940	222	1	0.02
WTRCDD164	240.00	240.60	2,240	970	79	1	0.02
WTRCDD164	240.60	241.38	33,100	4,430	2,120	5	0.13
WTRCDD164	241.38	242.00	2,520	2,810	106	1	0.02
WTRCDD164	242.00	243.00	3,080	1,915	144	1	0.02
WTRCDD164	243.00	244.00	422	315	11	0	0.01
WTRCDD164	244.00	245.00	9,950	4,900	210	2	0.03
WTRCDD164	245.00	246.00	3,190	4,080	115	1	0.03
WTRCDD164	246.00	247.00	5,320	2,230	1,230	3	0.09
WTRCDD164	247.00	248.00	5,010	2,020	75	1	0.02
WTRCDD164	248.00	248.95	1,580	982	51	1	0.02
WTRCDD164	248.95	249.70	31,500	4,120	1,730	5	0.05
WTRCDD164	249.70	250.40	91,500	11,050	4,330	28	0.22
WTRCDD164	250.40	251.00	14,950	8,570	674	8	0.05
WTRCDD164	251.00	252.00	25,600	3,180	339	3	0.06
WTRCDD164	252.00	253.00	30,200	11,750	818	6	0.08
WTRCDD164	253.00	254.00	7,230	2,080	58	1	0.06
WTRCDD164	254.00	255.00	883	829	55	1	0.05
WTRCDD164	255.00	256.00	4,280	4,220	988	3	0.08
WTRCDD164	256.00	257.00	6,150	1,710	31	1	0.05
WTRCDD164	257.00	258.00	1,200	1,290	19	1	0.04
WTRCDD164	258.00	259.00	3,650	2,350	15	1	0.02
WTRCDD164	259.00	260.00	3,510	1,100	18	1	0.03
WTRCDD164	260.00	261.00	6,470	2,230	24	1	0.02

Peel Mining Limited – Quarterly Report March 2019

==> picture [138 x 69] intentionally omitted <==

HOLE ID	FROM(m)	TO(m)	Zn(ppm)	Pb(ppm)	Cu(ppm)	Ag (ppm)	Au(ppm)
WTRCDD164	261.00	262.00	3,630	4,430	19	2	0.04
WTRCDD164	268.00	269.00	1,250	106	14	0	0.02
WTRCDD164	269.00	270.00	182	48	16	0	0.02
WTRCDD164	270.00	271.00	323	74	25	0	0.03
WTRCDD164	271.00	272.00	603	179	95	1	0.06
WTRCDD164	272.00	273.00	1,130	442	113	1	0.09
WTRCDD164	273.00	274.00	4,280	5,770	837	8	0.08
WTRCDD164	274.00	275.00	1,790	2,290	152	3	0.06
WTRCDD164	275.00	276.00	1,690	631	76	1	0.03
WTRCDD164	276.00	277.15	5,410	2,060	134	2	0.07
WTRCDD164	277.15	278.40	4,040	1,580	223	2	0.05
WTRCDD164	278.40	279.10	1,400	790	43	2	0.10
WTRCDD164	279.10	280.00	2,050	481	54	1	0.04
WTRCDD164	289.10	290.36	1,170	603	174	1	0.04
WTRCDD164	290.36	290.65	67,600	86,400	10,800	422	0.27
WTRCDD164	290.65	292.00	4,060	590	104	2	0.03
WTRCDD164	300.00	301.00	4,870	2,440	27	2	0.02
WTRCDD164	301.00	302.00	4,950	1,155	57	1	0.02
WTRCDD164	302.00	303.00	1,220	709	68	3	0.02
WTRCDD164	303.00	304.00	8,620	3,650	38	2	0.03
WTRCDD164	304.00	305.00	25,000	4,570	137	2	0.03
WTRCDD164	305.00	306.00	11,850	10,250	138	4	0.03
WTRCDD164	306.00	307.00	10,950	4,340	103	3	0.03
WTRCDD164	307.00	308.00	8,830	12,200	419	9	0.03
WTRCDD164	308.00	309.00	5,870	2,310	43	2	0.03
WTRCDD164	309.00	310.00	4,540	2,110	44	2	0.03
WTRCDD164	310.00	311.00	7,310	3,270	47	2	0.03
WTRCDD164	319.00	320.00	12,150	5,610	71	5	0.04
WTRCDD164	320.00	321.00	9,710	5,430	89	5	0.04
WTRCDD164	321.00	322.00	14,100	2,660	55	4	0.05
WTRCDD164	322.00	323.00	6,190	1,630	73	3	0.06
WTRCDD164	323.00	324.00	6,880	2,820	77	4	0.08
WTRCDD164	324.00	325.00	9,170	4,500	120	6	0.08
WTRCDD164	325.00	326.00	21,700	7,570	71	8	0.05
WTRCDD164	326.00	326.82	36,100	11,150	138	12	0.08
WTRCDD164	326.82	327.40	30,200	5,210	136	8	0.03
WTRCDD164	327.40	328.00	28,700	9,970	221	11	0.07
WTRCDD164	328.00	329.00	21,600	7,050	62	7	0.06
WTRCDD164	329.00	330.00	11,000	4,350	57	5	0.07
WTRCDD164	330.00	331.00	20,900	4,870	66	6	0.02
WTRCDD164	331.00	332.00	11,800	4,360	137	6	0.03
WTRCDD164	332.00	333.00	10,050	2,200	124	4	0.04
WTRCDD164	333.00	334.00	17,900	5,760	71	8	0.04
WTRCDD164	334.00	335.00	14,400	4,790	76	8	0.02
WTRCDD164	335.00	336.00	22,600	8,100	90	16	-0.01
WTRCDD164	336.00	337.00	17,900	5,060	161	29	-0.01
WTRCDD164	337.00	338.00	6,900	590	72	24	-0.01
WTRCDD164	338.00	339.00	5,020	3,890	6	4	-0.01
WTRCDD164	339.00	340.00	1,740	1,540	16	2	-0.01
WTRCDD164	345.00	346.00	1,700	790	24	3	-0.01
WTRCDD164	346.00	347.00	47,700	12,950	1,525	47	0.15
WTRCDD164	347.00	348.02	13,800	21,500	550	39	0.16
WTRCDD164	348.02	349.00	4,790	480	56	14	0.02
WTRCDD164	349.00	350.00	1,050	142	39	1	-0.01

Peel Mining Limited – Quarterly Report March 2019

==> picture [138 x 69] intentionally omitted <==

HOLE ID	FROM(m)	TO(m)	Zn(ppm)	Pb(ppm)	Cu(ppm)	Ag (ppm)	Au(ppm)
WTRCDD165	100.00	101.00	289	26	55	0	0.01
WTRCDD165	101.00	102.00	542	35	57	0	0.02
WTRCDD165	102.00	103.00	886	25	48	0	0.01
WTRCDD165	103.00	104.00	2,570	46	40	0	0.01
WTRCDD165	104.00	105.00	4,000	39	42	0	0.01
WTRCDD165	105.00	106.00	2,510	39	49	0	0.01
WTRCDD165	106.00	107.00	1,960	34	43	0	0.01
WTRCDD165	107.00	108.00	902	49	49	0	0.01
WTRCDD165	108.00	109.00	758	35	43	0	0.01
WTRCDD165	109.00	110.00	728	46	51	0	0.01
WTRCDD165	110.00	111.00	772	26	39	0	0.01
WTRCDD165	111.00	112.00	791	32	46	0	0.01
WTRCDD165	112.00	113.00	625	44	46	0	0.01
WTRCDD165	113.00	114.00	818	36	46	0	-0.01
WTRCDD165	114.00	115.00	401	79	53	0	0.01
WTRCDD165	214.00	215.00	237	95	44	1	0.02
WTRCDD165	215.00	216.00	221	181	47	2	0.02
WTRCDD165	216.00	217.37	236	538	63	3	0.05
WTRCDD165	217.37	218.00	47,500	25,100	891	43	0.12
WTRCDD165	218.00	219.00	100,500	21,400	2,430	44	0.14
WTRCDD165	219.00	220.00	91,600	38,200	2,500	103	1.22
WTRCDD165	220.00	221.00	124,500	45,700	811	86	0.62
WTRCDD165	221.00	222.00	16,250	3,520	77	14	0.17
WTRCDD165	222.00	223.00	13,150	3,980	101	12	0.12
WTRCDD165	223.00	224.00	56,100	6,080	526	41	0.24
WTRCDD165	224.00	225.00	132,500	26,800	684	94	0.16
WTRCDD165	225.00	226.00	152,500	29,200	770	92	0.21
WTRCDD165	226.00	226.95	25,000	7,240	179	24	0.09
WTRCDD165	226.95	228.00	207,000	34,100	1,060	85	0.32
WTRCDD165	228.00	229.00	86,600	9,160	1,080	30	0.31
WTRCDD165	229.00	230.00	98,700	12,400	12,650	79	0.86
WTRCDD165	230.00	231.00	23,700	7,420	2,340	45	0.28
WTRCDD165	231.00	232.20	37,000	16,000	8,690	106	0.76
WTRCDD165	232.20	233.00	13,950	5,080	4,590	42	0.22
WTRCDD165	233.00	234.00	14,950	6,170	3,310	37	0.24
WTRCDD165	234.00	235.00	53,900	21,700	1,870	76	0.83
WTRCDD165	235.00	236.00	8,940	3,980	375	17	0.15
WTRCDD165	236.00	237.00	6,700	3,850	374	14	0.14
WTRCDD165	237.00	238.00	17,050	7,200	1,375	32	0.15
WTRCDD165	238.00	239.00	14,100	5,660	818	29	0.13
WTRCDD165	239.00	240.00	9,230	3,090	447	20	0.15
WTRCDD165	240.00	241.00	12,600	4,060	480	23	0.14
WTRCDD165	241.00	242.00	16,500	5,910	152	21	0.22
WTRCDD165	242.00	243.00	18,450	7,050	436	24	0.37
WTRCDD165	243.00	244.00	39,000	8,750	4,200	47	0.52
WTRCDD165	244.00	245.00	4,950	1,620	349	11	0.30
WTRCDD165	245.00	246.00	6,010	2,490	445	11	0.25
WTRCDD165	246.00	247.00	2,780	968	29	4	0.19
WTRCDD165	247.00	248.00	3,680	1,375	80	6	0.19
WTRCDD165	248.00	249.00	3,650	1,350	59	6	0.18
WTRCDD165	249.00	250.00	9,200	1,725	554	7	0.33
WTRCDD165	250.00	251.00	1,690	596	66	2	0.06
WTRCDD165	251.00	252.00	8,540	3,960	1,355	35	0.43
WTRCDD165	252.00	253.00	1,580	661	798	9	0.51

Peel Mining Limited – Quarterly Report March 2019

==> picture [138 x 69] intentionally omitted <==

HOLE ID	FROM(m)	TO(m)	Zn(ppm)	Pb(ppm)	Cu(ppm)	Ag (ppm)	Au(ppm)
WTRCDD165	253.00	253.72	1,560	3,380	4,090	15	0.63
WTRCDD165	253.72	254.50	1,740	1,355	20,900	44	1.15
WTRCDD165	254.50	255.20	6,640	1,770	1,650	6	0.23
WTRCDD165	255.20	256.00	2,940	2,070	6,490	26	1.11
WTRCDD165	256.00	257.00	2,220	517	222	6	0.40
WTRCDD165	257.00	258.00	1,300	182	420	2	0.13
WTRCDD165	258.00	259.00	3,460	1,300	229	6	0.22
WTRCDD165	259.00	260.00	552	365	322	5	0.28
WTRCDD165	260.00	261.00	782	265	430	5	0.29
WTRCDD165	261.00	262.00	1,740	409	333	5	0.17
WTRCDD165	262.00	263.00	668	439	1,410	14	0.51
WTRCDD165	263.00	264.00	570	453	3,060	11	0.39
WTRCDD165	264.00	265.00	3,000	311	267	7	0.28
WTRCDD165	265.00	265.58	605	342	130	4	0.25
WTRCDD165	265.58	266.32	14,650	2,690	354	13	0.76
WTRCDD165	266.32	267.00	4,970	910	3,580	15	0.96
WTRCDD165	267.00	268.00	594	165	168	2	0.28
WTRCDD165	268.00	269.10	5,000	1,270	2,590	13	0.45
WTRCDD165	269.10	270.00	684	260	389	5	0.42
WTRCDD165	270.00	271.00	543	86	609	2	0.13
WTRCDD165	271.00	272.30	825	82	336	2	0.12
WTRCDD165	272.30	273.10	904	517	931	7	0.15
WTRCDD165	273.10	274.00	559	203	329	2	0.28
WTRCDD165	274.00	275.00	580	232	384	3	0.33
WTRCDD165	275.00	276.00	411	232	1,040	3	0.40
WTRCDD165	276.00	277.00	351	139	565	3	0.40
WTRCDD165	277.00	278.00	596	1,075	2,000	4	0.21
WTRCDD165	278.00	279.00	779	138	736	2	0.42
WTRCDD165	279.00	280.00	897	117	428	1	0.19
WTRCDD165	280.00	281.00	728	280	152	1	0.24
WTRCDD165	281.00	282.00	6,190	223	192	1	0.15
WTRCDD165	282.00	283.00	6,110	312	257	1	0.11
WTRCDD165	283.00	284.00	1,220	202	1,885	3	0.23
WTRCDD165	284.00	284.90	773	244	857	2	0.18
WTRCDD165	284.90	285.15	2,280	1,590	4,150	7	0.25
WTRCDD165	285.15	286.00	448	94	1,330	2	0.07
WTRCDD165	286.00	287.10	763	232	604	2	0.17
WTRCDD165	287.10	288.38	657	125	446	2	0.27
WTRCDD165	288.38	288.64	2,440	367	6,630	9	1.38
WTRCDD165	288.64	290.00	406	94	873	2	0.13
WTRCDD165	290.00	291.00	290	52	156	1	0.11
WTRCDD165	291.00	292.00	732	160	2,140	3	0.66
WTRCDD165	292.00	293.00	471	77	2,810	4	0.54
WTRCDD165	307.00	308.00	188	67	136	2	0.32
WTRCDD165	308.00	309.00	295	177	768	2	0.37
WTRCDD165	309.00	310.00	143	227	39	2	0.24
WTRCDD165	310.00	310.78	315	202	721	1	0.31
WTRCDD165	310.78	311.05	1,240	3,040	8,880	7	0.93
WTRCDD165	311.05	312.00	230	92	53	1	0.41
WTRCDD165	312.00	313.00	364	790	1,255	2	0.26
WTRCDD165	313.00	314.00	322	114	592	1	0.26
WTRCDD165	314.00	315.00	570	133	2,100	2	0.31
WTRCDD165	315.00	316.00	197	130	1,730	2	0.26
WTRCDD165	316.00	316.86	686	530	5,350	11	0.30

Peel Mining Limited – Quarterly Report March 2019

==> picture [138 x 69] intentionally omitted <==

HOLE ID	FROM(m)	TO(m)	Zn(ppm)	Pb(ppm)	Cu(ppm)	Ag (ppm)	Au(ppm)
WTRCDD165	316.86	318.00	121	58	78	1	0.18
WTRCDD165	318.00	319.00	376	1,715	36	2	0.27
WTRCDD165	319.00	320.00	490	82	120	1	0.26
WTRCDD165	320.00	321.43	654	147	242	2	0.47
WTRCDD165	321.43	322.10	3,800	1,250	8,030	25	1.16
WTRCDD165	322.10	322.80	545	105	221	2	0.22
WTRCDD165	323.00	324.00	296	97	519	2	0.18
WTRCDD165	324.00	325.00	497	189	1,310	3	0.46
WTRCDD165	325.00	326.25	609	266	6,620	11	9.87
WTRCDD165	326.25	326.65	954	931	36,000	59	58.80
WTRCDD165	326.65	328.00	3,150	192	1,685	6	0.85
WTRCDD165	328.00	329.00	1,100	350	4,380	14	1.28
WTRCDD165	329.00	330.00	36,300	6,540	2,280	13	1.08
WTRCDD165	330.00	330.50	393	168	1,940	3	0.63
WTRCDD166	52.00	53.00	26	11	4	0	-0.01
WTRCDD166	53.00	54.00	16	11	5	0	-0.01
WTRCDD166	54.00	55.00	20	10	4	0	0.01
WTRCDD166	55.00	56.00	1,730	13	17	0	0.01
WTRCDD166	56.00	57.00	1,840	15	9	0	0.01
WTRCDD166	364.00	365.00	141	41	43	2	0.01
WTRCDD166	365.00	366.23	5,940	12,450	281	37	0.08
WTRCDD166	366.23	367.00	238,000	181,000	3,520	436	2.13
WTRCDD166	367.00	368.00	312,000	142,500	4,430	280	2.11
WTRCDD166	368.00	368.63	300,000	137,000	3,480	196	0.93
WTRCDD166	368.63	369.15	46,600	23,400	2,290	44	0.66
WTRCDD166	369.15	369.88	262,000	80,800	2,690	115	2.34
WTRCDD166	369.88	370.80	29,300	7,710	718	16	0.22
WTRCDD166	370.80	372.00	163,500	22,700	1,660	49	0.82
WTRCDD166	372.00	373.00	185,500	33,600	4,650	72	0.74
WTRCDD166	373.00	374.00	207,000	46,700	3,900	70	0.73
WTRCDD166	374.00	375.00	196,000	45,800	2,750	57	1.17
WTRCDD166	375.00	376.00	124,000	35,200	1,140	37	0.53
WTRCDD166	376.00	377.00	29,600	9,990	274	15	0.14
WTRCDD166	377.00	377.73	6,810	2,450	95	3	0.07
WTRCDD166	377.73	379.00	234,000	61,800	3,270	46	1.02
WTRCDD166	379.00	380.00	136,000	23,700	7,610	36	1.01
WTRCDD166	380.00	381.00	249,000	14,900	9,780	44	1.24
WTRCDD166	381.00	382.44	139,500	33,800	14,600	72	0.97
WTRCDD166	382.44	383.00	2,840	1,765	5,220	11	0.11
WTRCDD166	383.00	384.00	23,600	4,780	5,290	22	0.25
WTRCDD166	384.00	385.00	1,630	584	63	2	0.05
WTRCDD166	385.00	386.00	55,700	17,500	1,710	23	0.45
WTRCDD166	386.00	387.00	64,500	15,250	1,570	23	0.30
WTRCDD166	387.00	388.00	15,650	2,530	798	9	0.15
WTRCDD166	388.00	389.00	66,100	12,500	3,140	22	0.42
WTRCDD166	389.00	390.00	9,140	2,000	1,050	9	0.16
WTRCDD166	390.00	391.00	42,200	11,350	4,790	32	0.32
WTRCDD166	391.00	392.42	48,300	15,150	8,920	40	0.36
WTRCDD166	392.42	393.00	188,500	43,200	4,250	50	0.73
WTRCDD166	393.00	394.00	172,500	47,100	9,890	51	1.36
WTRCDD166	394.00	395.00	143,500	73,900	11,050	77	1.37
WTRCDD166	395.00	396.00	209,000	47,900	10,200	61	2.06
WTRCDD166	396.00	397.00	213,000	13,250	10,250	31	1.07
WTRCDD166	397.00	398.05	117,000	3,970	12,900	29	1.73

Peel Mining Limited – Quarterly Report March 2019

==> picture [138 x 69] intentionally omitted <==

HOLE ID	FROM(m)	TO(m)	Zn(ppm)	Pb(ppm)	Cu(ppm)	Ag (ppm)	Au(ppm)
WTRCDD166	398.05	399.00	2,750	189	4,390	2	0.61
WTRCDD166	399.00	400.00	594	86	4,690	1	0.42
WTRCDD166	400.00	401.00	1,140	146	6,780	2	0.88
WTRCDD166	401.00	402.00	3,860	447	14,050	4	1.56
WTRCDD166	402.00	403.00	1,220	3,120	15,800	10	1.24
WTRCDD166	403.00	404.00	1,610	1,285	29,300	10	9.83
WTRCDD166	404.00	405.00	1,060	127	8,810	2	0.33
WTRCDD166	405.00	406.00	392	98	2,200	1	0.10
WTRCDD166	406.00	407.00	1,140	234	4,080	1	0.19
WTRCDD166	407.00	408.00	803	115	196	1	0.19
WTRCDD166	408.00	409.00	693	154	1,140	1	0.13
WTRCDD166	409.00	410.00	627	392	1,220	1	0.08
WTRCDD166	410.00	411.00	662	76	350	1	0.07
WTRCDD166	411.00	412.00	613	123	1,120	1	0.08
WTRCDD166	412.00	413.00	2,940	324	7,240	3	0.21
WTRCDD166	413.00	414.00	1,000	109	257	1	0.11
WTRCDD166	414.00	415.00	4,280	349	250	1	0.10
WTRCDD166	415.00	416.00	471	92	26	1	0.08
WTRCDD166	416.00	417.00	447	43	120	1	0.05
WTRCDD166	417.00	418.00	888	53	11	0	0.09
WTRCDD166	418.00	419.00	553	72	18	1	0.10
WTRCDD166	419.00	420.00	553	92	206	1	0.11
WTRCDD166	420.00	421.00	585	65	121	1	0.14
WTRCDD166	421.00	422.00	820	218	838	6	0.29
WTRCDD166	422.00	423.00	1,160	286	177	6	0.33
WTRCDD166	423.00	424.00	1,140	201	129	3	0.13
WTRCDD166	424.00	425.00	472	350	170	10	0.50
WTRCDD166	425.00	426.00	545	352	1,330	10	0.28
WTRCDD166	426.00	427.00	464	138	723	2	0.14
WTRCDD166	427.00	427.75	415	119	671	2	0.13
WTRCDD166	427.75	429.00	516	226	335	4	0.26
WTRCDD166	429.00	430.00	858	386	571	8	0.56
WTRCDD166	430.00	430.60	388	438	986	8	0.58
WTRCDD166	430.60	432.00	504	101	616	2	0.10
WTRCDD166	432.00	433.00	416	58	410	1	0.07
WTRCDD167	327.00	328.00	138	26	41	2	0.01
WTRCDD167	328.00	329.00	355	207	65	13	0.04
WTRCDD167	329.00	330.00	2,230	498	114	99	0.19
WTRCDD167	330.00	331.00	11,700	6,790	643	280	2.10
WTRCDD167	331.00	332.00	46,500	30,700	1,770	440	1.16
WTRCDD167	332.00	333.00	44,400	29,200	1,395	412	1.86
WTRCDD167	333.00	334.00	57,700	30,600	2,810	211	0.23
WTRCDD167	334.00	335.00	140,000	68,700	4,460	394	0.33
WTRCDD167	335.00	336.00	156,500	75,300	791	387	0.35
WTRCDD167	336.00	337.00	216,000	104,500	1,065	440	0.24
WTRCDD167	337.00	338.00	192,000	92,000	2,460	397	0.19
WTRCDD167	338.00	339.00	108,000	21,700	484	128	0.30
WTRCDD167	339.00	340.00	11,550	6,020	40	30	0.09
WTRCDD167	340.00	341.00	22,300	8,050	44	29	0.07
WTRCDD167	341.00	342.17	13,550	476	47	12	0.07
WTRCDD167	342.17	343.00	4,460	166	29	7	0.05
WTRCDD167	343.00	344.00	845	333	22	5	0.03
WTRCDD167	344.00	345.00	1,300	486	25	4	0.02
WTRCDD167	374.00	375.00	7,230	2,990	35	3	0.04

Peel Mining Limited – Quarterly Report March 2019

==> picture [138 x 69] intentionally omitted <==

HOLE ID	FROM(m)	TO(m)	Zn(ppm)	Pb(ppm)	Cu(ppm)	Ag (ppm)	Au(ppm)
WTRCDD167	375.00	376.00	9,170	4,330	49	4	0.04
WTRCDD167	376.00	377.00	3,040	1,595	34	3	0.04
WTRCDD167	377.00	378.00	3,850	1,655	57	3	0.11
WTRCDD167	378.00	379.00	7,530	1,740	69	3	0.08
WTRCDD167	379.00	380.00	17,000	351	129	3	0.08
WTRCDD167	380.00	381.00	22,600	1,035	333	7	0.09
WTRCDD167	381.00	382.00	25,600	262	245	8	0.10
WTRCDD167	382.00	383.00	1,560	174	86	5	0.09
WTRCDD167	383.00	383.85	365	127	23	3	0.08
WTRCDD167	383.85	385.00	8,600	2,690	36	15	0.09
WTRCDD167	385.00	386.00	17,650	6,960	44	55	0.05
WTRCDD167	386.00	387.00	15,100	4,890	73	179	0.02
WTRCDD167	387.00	388.00	16,950	6,560	69	21	-0.01
WTRCDD167	388.00	389.00	40,300	11,550	124	29	0.02
WTRCDD167	389.00	390.00	17,550	4,790	180	13	0.04
WTRCDD167	390.00	391.26	14,100	4,870	516	9	-0.01
WTRCDD167	391.26	392.00	150	163	6,190	9	0.09
WTRCDD167	392.00	393.00	208	165	127	1	0.07
WTRCDD167	393.00	394.00	283	139	2,760	3	0.08
WTRCDD167	394.00	395.00	175	129	3,080	3	0.12
WTRCDD168	176.00	177.30	14,750	16,850	694	45	1.60
WTRCDD168	177.90	178.70	32,800	23,200	1,250	34	0.24
WTRCDD168	178.70	179.35	196,000	116,000	2,400	135	1.27
WTRCDD168	179.35	180.00	394,000	231,000	2,820	230	2.25
WTRCDD168	180.10	181.00	442,000	186,500	4,330	207	2.92
WTRCDD168	181.10	182.20	425,000	107,000	5,370	203	2.19
WTRCDD168	182.20	182.70	123,000	54,600	1,820	183	1.93
WTRCDD168	182.80	184.00	9,950	6,020	88	26	0.05
WTRCDD168	184.00	185.00	7,290	4,730	144	13	0.02
WTRCDD168	185.00	186.00	11,150	4,880	89	11	0.04
WTRCDD168	186.00	187.00	10,850	7,530	157	15	0.34
WTRCDD168	187.00	187.95	313,000	213,000	3,240	261	1.18
WTRCDD168	187.95	189.00	21,500	11,800	874	18	0.21
WTRCDD168	189.00	190.00	86,800	62,200	1,030	84	0.73
WTRCDD168	190.00	191.00	138,000	46,600	829	77	0.66
WTRCDD168	191.00	192.10	17,850	3,210	229	7	0.13
WTRCDD168	192.40	193.00	32,200	5,750	518	10	0.13
WTRCDD168	193.00	194.00	88,900	13,050	1,360	34	0.63
WTRCDD168	194.00	195.00	66,000	9,940	1,505	22	0.44
WTRCDD168	195.00	196.00	73,400	15,900	590	20	0.47
WTRCDD168	196.00	197.00	86,000	26,300	401	19	0.34
WTRCDD168	197.00	198.00	74,800	41,000	746	29	0.51
WTRCDD168	198.00	199.00	91,100	30,000	922	23	0.30
WTRCDD168	199.00	200.30	46,100	5,470	1,225	9	0.21
WTRCDD168	200.30	200.90	185,500	91,700	1,905	58	0.57
WTRCDD168	200.90	202.00	33,000	7,540	495	6	0.24
WTRCDD168	202.00	202.70	29,600	5,200	1,025	5	0.20
WTRCDD168	203.00	204.00	78,700	14,550	978	7	0.17
WTRCDD168	204.00	205.10	76,800	12,700	368	5	0.14
WTRCDD168	205.30	206.00	54,500	7,350	615	4	0.20
WTRCDD168	206.10	207.00	26,900	6,520	340	4	0.13
WTRCDD168	207.00	208.00	23,300	6,530	1,095	6	0.18
WTRCDD168	208.00	209.00	1,480	482	42	1	0.26
WTRCDD168	209.00	210.05	9,280	2,740	2,340	5	0.17

Peel Mining Limited – Quarterly Report March 2019

==> picture [138 x 69] intentionally omitted <==

HOLE ID	FROM(m)	TO(m)	Zn(ppm)	Pb(ppm)	Cu(ppm)	Ag (ppm)	Au(ppm)
WTRCDD168	210.05	211.30	40,500	17,400	1,680	12	0.41
WTRCDD168	211.30	212.00	2,130	699	2,980	4	0.30
WTRCDD168	243.00	244.00	12,300	781	276	4	0.16
WTRCDD168	244.00	245.00	13,550	4,000	438	10	0.18
WTRCDD168	245.00	246.00	10,300	3,330	1,345	21	0.47
WTRCDD168	246.00	247.00	31,800	8,490	1,600	41	1.30
WTRCDD168	247.00	248.00	15,800	3,790	387	12	0.15
WTRCDD168	248.00	249.00	8,280	2,250	284	7	0.09
WTRCDD168	249.00	250.00	3,240	514	670	6	0.10
WTRCDD168	250.00	251.00	2,940	306	843	13	0.49
WTRCDD168	251.00	252.00	839	214	2,230	11	0.58
WTRCDD168	252.00	253.00	2,710	439	516	5	0.16
WTRCDD168	253.00	254.00	2,580	747	404	5	0.08
WTRCDD168	254.00	255.00	1,490	913	5,420	20	0.24
WTRCDD168	265.00	266.00	386	64	1,900	8	0.21
WTRCDD168	266.00	267.00	1,480	73	10,400	33	3.01
WTRCDD168	267.00	268.00	539	69	734	4	0.32
WTRCDD168	268.00	269.00	420	47	153	3	0.25
WTRCDD168	275.00	276.00	458	113	964	6	0.23
WTRCDD168	276.00	277.10	560	1,060	8,490	54	4.21
WTRCDD168	277.10	278.00	505	68	311	2	0.13
WTRCDD169	282.00	283.00	358	525	76	3	0.02
WTRCDD169	283.00	284.00	6,160	3,040	141	18	0.26
WTRCDD169	284.00	285.06	8,160	3,720	151	20	0.08
WTRCDD169	285.06	286.00	97,700	57,300	1,750	200	0.19
WTRCDD169	286.00	286.87	64,000	38,800	949	142	0.28
WTRCDD169	286.87	287.94	83,600	45,000	867	173	0.26
WTRCDD169	287.94	289.00	104,000	37,200	1,610	187	0.30
WTRCDD169	289.00	290.00	16,100	6,980	163	25	0.05
WTRCDD169	290.00	291.00	48,800	24,300	648	100	0.43
WTRCDD169	291.00	292.15	71,300	32,300	485	84	0.47
WTRCDD169	292.15	293.00	36,700	14,750	385	51	0.08
WTRCDD169	293.00	294.00	15,400	7,120	293	19	0.05
WTRCDD169	294.00	295.00	29,100	15,900	411	26	0.08
WTRCDD169	295.00	296.00	57,300	28,700	601	25	0.11
WTRCDD169	296.00	297.00	75,400	34,200	767	29	0.10
WTRCDD169	297.00	298.00	51,600	19,600	582	22	0.13
WTRCDD169	298.00	299.00	27,300	4,920	259	13	0.10
WTRCDD169	299.00	300.00	14,550	4,470	217	13	0.09
WTRCDD169	300.00	301.00	26,300	2,870	285	11	0.10
WTRCDD169	301.00	302.00	7,850	1,175	129	7	0.10
WTRCDD169	302.00	303.00	15,150	2,330	157	6	0.08
WTRCDD169	303.00	304.00	18,050	2,590	206	6	0.08
WTRCDD169	304.00	305.10	17,000	3,650	194	6	0.09
WTRCDD169	305.30	306.00	30,300	2,910	325	5	0.09
WTRCDD169	306.00	307.00	22,000	1,780	258	3	0.07
WTRCDD169	307.00	308.00	22,200	2,130	254	5	0.09
WTRCDD169	308.00	309.00	31,100	7,410	539	11	0.08
WTRCDD169	309.00	310.28	11,400	4,570	225	6	0.10
WTRCDD169	310.28	311.00	10,500	3,870	152	14	0.13
WTRCDD169	311.00	312.00	26,200	9,970	338	18	0.14
WTRCDD169	312.00	313.00	40,100	6,730	569	14	0.13
WTRCDD169	313.00	314.00	57,700	13,350	1,220	22	0.17
WTRCDD169	314.00	315.00	28,900	10,400	342	24	0.13

Peel Mining Limited – Quarterly Report March 2019

==> picture [138 x 69] intentionally omitted <==

HOLE ID	FROM(m)	TO(m)	Zn(ppm)	Pb(ppm)	Cu(ppm)	Ag (ppm)	Au(ppm)
WTRCDD169	315.00	316.00	13,850	6,930	135	15	0.06
WTRCDD169	316.00	317.14	13,650	5,160	188	18	0.17
WTRCDD169	317.14	318.00	27,200	14,300	211	22	0.12
WTRCDD169	318.00	319.00	7,910	3,220	43	8	0.04
WTRCDD169	319.00	320.00	12,950	4,930	46	12	0.07
WTRCDD169	320.00	321.00	10,350	4,910	47	7	0.05
WTRCDD169	321.00	322.00	21,200	8,350	85	9	0.05
WTRCDD169	322.00	323.00	6,590	2,200	2,150	8	0.07
WTRCDD169	323.00	324.00	4,610	1,235	363	4	0.05
WTRCDD169	324.00	325.00	2,100	1,380	4,120	9	0.07
WTRCDD169	325.00	326.00	2,010	1,420	1,010	13	0.18
WTRCDD169	326.00	327.00	9,010	3,990	122	8	0.12
WTRCDD169	327.00	328.00	9,880	4,000	44	5	0.08
WTRCDD169	328.00	329.00	12,650	6,260	40	6	0.07
WTRCDD169	329.00	330.00	15,600	7,880	35	7	0.05
WTRCDD169	330.00	331.00	12,250	6,090	41	7	0.05
WTRCDD169	331.00	332.00	13,950	6,150	53	11	0.04
WTRCDD169	332.00	333.00	15,200	7,480	67	13	0.04
WTRCDD169	333.00	334.00	19,450	7,010	42	9	0.03
WTRCDD169	334.00	335.30	24,600	5,990	45	15	0.03
WTRCDD169	335.30	336.00	22,500	6,070	82	20	0.13
WTRCDD169	336.00	337.00	14,550	4,260	58	14	0.12
WTRCDD169	337.00	338.00	22,500	9,650	219	16	0.07
WTRCDD169	338.00	339.00	42,100	13,800	176	27	0.06
WTRCDD169	339.00	340.00	41,600	14,050	138	22	0.04
WTRCDD169	340.00	340.75	47,900	13,650	121	21	0.06
WTRCDD169	340.75	341.00	16,550	6,890	64	15	0.10
WTRCDD169	341.00	342.00	12,250	3,810	61	9	0.05
WTRCDD169	342.00	343.00	21,100	6,900	58	13	0.07
WTRCDD169	343.00	344.00	14,050	4,090	50	10	0.07
WTRCDD169	344.00	345.00	4,170	353	149	5	0.09
WTRCDD169	345.00	346.00	538	288	156	6	0.22
WTRCDD169	346.00	347.00	399	323	238	7	0.23
WTRCDD169	347.00	348.00	298	133	28	7	0.18
WTRCDD169	348.00	349.00	202	119	30	8	0.17
WTRCDD169	349.00	350.00	1,020	226	275	5	0.30
WTRCDD169	350.00	351.00	1,120	235	75	4	0.20
WTRCDD169	351.00	352.00	209	129	283	3	0.16
WTRCDD169	352.00	353.00	578	345	29	1	0.04
WTRCDD169	353.00	354.00	1,060	409	54	2	0.05
WTRCDD169	354.00	355.00	3,100	518	38	2	0.05
WTRCDD169	355.00	356.00	4,070	1,870	416	4	0.08
WTRCDD169	356.00	357.00	1,680	650	385	3	0.21
WTRCDD169	357.00	358.00	955	153	49	2	0.14
WTRCDD169	358.00	359.00	878	89	65	2	0.16
WTRCDD169	359.00	360.00	585	92	29	1	0.21
WTRCDD169	360.00	360.60	384	83	16	1	0.17
WTRCDD170	259.00	260.00	302	307	86	1	0.02
WTRCDD170	260.00	261.00	212	76	48	0	0.03
WTRCDD170	261.00	262.00	806	66	16	0	0.03
WTRCDD170	262.00	263.00	640	33	18	0	0.02
WTRCDD170	263.00	264.00	1,190	52	23	1	0.02
WTRCDD170	264.00	265.00	1,040	29	11	0	0.02
WTRCDD170	265.00	266.00	1,570	40	12	0	0.02

Peel Mining Limited – Quarterly Report March 2019

==> picture [138 x 69] intentionally omitted <==

HOLE ID	FROM(m)	TO(m)	Zn(ppm)	Pb(ppm)	Cu(ppm)	Ag (ppm)	Au(ppm)
WTRCDD170	266.00	267.00	856	27	14	0	0.02
WTRCDD170	267.00	268.00	635	30	15	0	0.03
WTRCDD170	268.00	269.00	736	38	16	1	-0.01
WTRCDD170	269.00	270.00	3,820	80	25	4	0.01
WTRCDD170	270.00	271.00	606	68	17	2	0.03
WTRCDD170	271.00	272.00	442	64	24	3	-0.01
WTRCDD170	272.00	273.00	340	59	21	3	0.13
WTRCDD170	273.00	274.00	480	98	20	5	0.01
WTRCDD170	274.00	275.00	4,370	1,385	47	30	0.04
WTRCDD170	275.00	276.00	10,400	3,990	67	26	0.03
WTRCDD170	276.00	277.00	36,000	18,100	190	41	0.04
WTRCDD170	277.00	278.00	14,100	7,870	41	10	0.01
WTRCDD170	278.00	279.00	10,250	4,090	35	5	0.02
WTRCDD170	279.00	280.00	8,420	1,095	205	4	0.06
WTRCDD170	280.00	281.00	3,920	1,355	468	5	0.07
WTRCDD170	281.00	282.00	3,450	1,490	156	3	0.10
WTRCDD170	282.00	283.00	5,000	2,470	167	3	0.08
WTRCDD170	283.00	284.00	3,320	1,200	953	5	0.05
WTRCDD170	284.00	285.00	1,220	445	542	2	0.05
WTRCDD171	186.00	187.00	179	66	54	7	0.02
WTRCDD171	187.00	188.30	174	138	63	10	0.02
WTRCDD171	188.30	189.00	2,080	49,600	1,440	588	0.89
WTRCDD171	189.00	190.00	9,580	12,400	856	239	0.90
WTRCDD171	190.00	191.12	14,250	10,000	226	76	0.29
WTRCDD171	191.12	192.00	172,000	126,500	1,850	178	0.99
WTRCDD171	192.00	193.02	161,500	74,800	1,410	77	0.45
WTRCDD171	193.02	194.00	60,300	8,060	676	20	0.26
WTRCDD171	194.00	195.00	60,700	21,200	418	21	0.20
WTRCDD171	195.00	196.21	53,900	17,950	312	25	0.14
WTRCDD171	196.21	197.00	6,780	1,460	862	13	0.03
WTRCDD171	197.00	198.00	2,870	737	73	5	0.03
WTRCDD171	198.00	198.60	4,860	759	31	7	0.04
WTRCDD171	198.70	199.30	3,400	377	21	5	0.02
WTRCDD171	199.50	200.00	7,770	1,655	77	27	0.07
WTRCDD171	200.00	201.00	2,950	657	71	6	0.05
WTRCDD171	201.00	202.00	4,250	1,930	3,140	31	0.14
WTRCDD171	202.00	203.00	5,670	1,540	1,750	23	0.14
WTRCDD171	203.00	204.00	9,460	2,560	992	28	0.25
WTRCDD171	204.00	205.00	4,170	1,935	1,250	21	0.12
WTRCDD171	205.00	206.00	9,720	5,320	1,160	35	0.12
WTRCDD171	206.00	207.00	9,210	4,650	1,130	26	0.13
WTRCDD171	207.00	208.00	4,990	2,190	882	12	0.09
WTRCDD171	208.00	209.00	9,620	3,450	730	12	0.09
WTRCDD171	209.00	210.00	3,530	1,210	134	4	0.04
WTRCDD171	210.00	211.00	11,650	4,450	846	11	0.09
WTRCDD171	211.00	212.00	3,970	1,900	88	6	0.07
WTRCDD171	212.00	213.00	6,270	2,350	39	5	0.05
WTRCDD171	213.00	214.00	2,140	1,005	24	3	0.07
WTRCDD171	214.00	215.00	1,910	782	36	4	0.07
WTRCDD171	215.00	216.00	2,370	865	277	6	0.08
WTRCDD171	216.00	217.00	922	431	3,750	7	0.17
WTRCDD171	217.00	218.00	782	271	6,680	12	0.17
WTRCDD171	218.00	219.00	419	199	109	2	0.10
WTRCDD171	219.00	220.00	783	264	1,085	3	0.10

Peel Mining Limited – Quarterly Report March 2019

==> picture [138 x 69] intentionally omitted <==

HOLE ID	FROM(m)	TO(m)	Zn(ppm)	Pb(ppm)	Cu(ppm)	Ag (ppm)	Au(ppm)
WTRCDD171	220.00	221.00	1,120	184	255	2	0.12
WTRCDD171	221.00	222.00	622	59	16	1	0.07
WTRCDD171	222.00	223.00	994	186	591	2	0.17
WTRCDD171	223.00	224.00	769	288	592	3	0.17
WTRCDD171	224.00	225.00	3,550	3,160	7,200	15	0.37
WTRCDD171	225.00	226.00	5,790	1,560	2,120	9	0.50
WTRCDD171	226.00	227.00	4,150	1,385	1,990	10	0.76
WTRCDD171	227.00	228.00	3,630	1,165	1,200	7	0.31
WTRCDD171	228.00	229.00	4,030	1,060	382	8	0.40
WTRCDD171	229.00	230.00	6,020	2,810	2,890	16	0.24
WTRCDD171	230.00	231.00	15,500	4,100	1,350	19	0.45
WTRCDD171	231.00	232.00	6,480	1,270	482	8	0.35
WTRCDD171	232.00	233.00	3,650	999	1,695	11	0.36
WTRCDD171	233.00	234.00	6,450	1,825	1,015	12	0.43
WTRCDD171	234.00	235.00	10,150	4,140	2,140	24	0.64
WTRCDD171	235.00	236.00	1,010	209	173	3	0.23
WTRCDD171	236.00	236.90	579	117	117	2	0.23
WTRCDD171	236.90	238.00	2,550	710	2,030	8	0.18
WTRCDD171	238.00	239.00	3,600	1,095	1,850	9	0.24
WTRCDD171	239.00	240.00	3,350	871	2,310	8	0.26
WTRCDD171	240.00	241.00	7,300	1,555	1,215	7	0.29
WTRCDD171	241.00	242.00	1,790	164	1,075	4	0.15
WTRCDD171	242.00	243.00	1,880	112	1,145	4	0.09
WTRCDD171	243.00	244.00	1,450	142	842	4	0.21
WTRCDD171	244.00	245.00	29,200	6,200	10,750	38	0.60
WTRCDD171	245.00	246.00	2,610	218	766	4	0.26
WTRCDD171	246.00	247.00	17,300	3,450	2,080	15	1.11
WTRCDD171	247.00	247.65	11,550	1,110	5,270	18	1.71
WTRCDD171	247.65	248.25	19,050	976	14,000	28	1.31
WTRCDD171	248.25	249.00	1,530	126	558	4	0.22
WTRCDD171	249.00	250.00	1,060	106	109	1	0.14
WTRCDD171	319.00	319.90	476	110	1,135	6	0.27
WTRCDD171	319.90	321.00	4,640	904	2,360	15	0.19
WTRCDD171	321.00	322.00	433	155	454	7	0.23
WTRCDD171	322.00	323.00	324	152	273	5	0.13
WTRCDD171	323.00	323.40	359	145	136	4	0.15
WTRCDD171	323.40	323.92	8,020	2,010	17,200	53	0.54
WTRCDD171	323.92	324.35	12,700	1,550	1,030	12	0.16
WTRCDD171	324.35	324.70	13,750	3,440	9,200	52	0.22
WTRCDD171	324.70	326.00	4,460	1,255	436	7	0.15
WTRCDD171	326.00	327.00	14,400	2,860	121	4	0.12
WTRCDD171	327.00	328.00	210	91	274	4	0.18
WTRCDD171	328.00	329.00	227	145	143	9	0.70
WTRCDD171	329.00	330.00	335	585	1,400	22	1.50
WTRCDD171	330.00	331.00	583	361	307	14	1.03
WTRCDD171	331.00	332.00	156	692	290	8	0.58
WTRCDD171	332.00	333.00	106	1,075	160	4	0.11
WTRCDD171	333.00	334.00	392	148	204	4	0.46
WTRCDD171	334.00	335.00	177	140	401	7	0.31
WTRCDD171	335.00	336.00	102	112	473	10	0.23
WTRCDD171	336.00	337.00	279	531	5,060	24	0.19
WTRCDD171	337.00	338.00	439	358	7,300	35	0.29
WTRCDD171	338.00	338.60	623	453	10,950	44	0.35
WTRCDD174	284.00	285.00	270	140	51	2	0.02

Peel Mining Limited – Quarterly Report March 2019

==> picture [138 x 69] intentionally omitted <==

HOLE ID	FROM(m)	TO(m)	Zn(ppm)	Pb(ppm)	Cu(ppm)	Ag (ppm)	Au(ppm)
WTRCDD174	285.00	286.00	1,360	45	17	2	0.01
WTRCDD174	286.00	287.00	5,270	143	21	21	0.01
WTRCDD174	287.00	288.00	2,790	130	19	24	0.03
WTRCDD174	288.00	289.00	1,820	113	22	26	0.11
WTRCDD174	289.00	290.00	686	248	13	17	0.02
WTRCDD174	290.00	291.00	1,230	316	31	60	0.02
WTRCDD174	291.00	292.00	1,160	423	36	60	0.03
WTRCDD174	292.00	293.00	1,110	302	38	36	0.03
WTRCDD174	293.00	294.00	1,080	377	22	17	0.05
WTRCDD174	294.00	295.00	388	119	19	15	0.01
WTRCDD174	295.00	296.00	6,760	2,600	60	64	0.02
WTRCDD174	296.00	297.00	28,100	11,550	163	78	0.01
WTRCDD174	297.00	297.70	74,500	28,400	384	70	0.05
WTRCDD174	297.70	299.00	11,700	4,120	53	7	0.02
WTRCDD174	299.00	300.00	8,160	3,180	89	3	0.02
WTRCDD174	300.00	301.00	8,990	3,490	587	4	0.08
WTRCDD174	301.00	302.00	9,310	1,160	362	2	0.06
WTRCDD174	302.00	303.00	2,950	518	220	2	0.07
WTRCDD174	303.00	304.00	685	90	1,410	2	0.06
WTRCDD174	304.00	305.00	1,320	532	286	1	0.06
WTRCDD174	305.00	306.00	1,740	523	310	1	0.06
WTRCDD174	306.00	306.60	365	58	854	2	0.07
WTRCDD174	306.60	307.60	217	110	621	4	0.12
WTRCDD174	307.60	308.60	816	2,280	2,950	14	0.14
WTRCDD174	308.60	310.00	221	267	43	1	0.07
WTRCDD174	310.00	311.00	9,040	769	1,040	3	0.05
WTRCDD174	311.00	312.00	4,480	4,640	634	4	0.05
WTRCDD174	312.00	313.00	758	389	140	1	0.04
WTRCDD174	313.00	314.00	132	39	65	1	0.04
WTRCDD174	314.00	315.00	275	105	144	2	0.08
WTRCDD174	315.00	316.00	370	95	67	1	0.07
WTRCDD174	316.00	317.00	1,740	161	436	3	0.08
WTRCDD174	317.00	318.00	264	113	82	2	0.08
WTRCDD174	318.00	319.00	369	153	157	3	0.09
WTRCDD174	319.00	320.00	537	193	54	2	0.06
WTRCDD174	320.00	321.00	942	319	12	1	0.04
WTRCDD174	321.00	322.00	2,580	480	133	4	0.05
WTRCDD174	322.00	323.00	1,500	473	57	3	0.03
WTRCDD174	323.00	324.00	27,600	9,260	157	14	0.02
WTRCDD174	324.00	325.00	64,200	12,200	324	18	0.06
WTRCDD174	325.00	326.00	8,220	2,040	277	12	0.04
WTRCDD174	326.00	327.00	27,800	5,780	185	8	0.04
WTRCDD175	172.00	173.00	720	13,500	1,280	31	1.62
WTRCDD175	173.00	174.00	33,200	146,000	12,250	325	11.10
WTRCDD175	174.00	174.90	96,700	152,500	9,890	315	5.39
WTRCDD175	174.90	176.00	263,000	102,500	7,840	270	4.45
WTRCDD175	176.00	177.00	463,000	173,000	2,840	412	2.29
WTRCDD175	177.00	177.60	483,000	172,500	2,400	403	4.32
WTRCDD175	178.00	179.00	255,000	143,500	10,100	449	2.63
WTRCDD175	179.00	180.00	463,000	171,000	1,080	542	0.87
WTRCDD175	180.10	181.00	340,000	170,000	2,730	501	1.49
WTRCDD175	181.00	182.30	307,000	178,500	3,080	573	1.20
WTRCDD175	182.50	183.00	365,000	213,000	1,900	751	1.21
WTRCDD175	183.20	183.80	335,000	152,500	1,810	494	2.30

Peel Mining Limited – Quarterly Report March 2019

==> picture [138 x 69] intentionally omitted <==

HOLE ID	FROM(m)	TO(m)	Zn(ppm)	Pb(ppm)	Cu(ppm)	Ag (ppm)	Au(ppm)
WTRCDD175	184.20	185.00	21,300	14,500	49	61	0.45
WTRCDD175	185.00	186.00	15,750	11,800	92	54	0.19
WTRCDD175	186.00	187.00	8,320	4,490	94	20	0.05
WTRCDD175	187.00	188.00	13,050	6,360	119	17	0.13
WTRCDD175	188.00	189.00	6,310	3,140	78	10	0.22
WTRCDD175	189.00	190.00	8,720	9,240	96	23	0.26
WTRCDD175	190.00	191.00	45,800	19,600	329	46	0.30
WTRCDD175	191.00	192.00	7,980	3,730	87	10	0.09
WTRCDD175	192.00	193.00	6,320	2,770	53	5	0.07
WTRCDD175	193.00	193.90	18,000	7,320	154	8	0.23
WTRCDD175	193.90	195.00	89,800	38,900	962	22	0.32
WTRCDD175	195.00	196.00	161,000	6,750	715	13	0.95
WTRCDD175	196.00	197.00	111,000	10,900	809	10	0.68
WTRCDD175	197.00	197.90	40,000	20,900	428	12	0.26
WTRCDD175	198.20	199.00	22,200	8,720	118	6	0.12
WTRCDD175	199.00	200.40	48,000	15,450	198	9	0.12
WTRCDD175	200.80	201.90	54,300	23,500	1,145	28	0.69
WTRCDD175	202.10	203.00	52,300	21,100	322	12	0.10
WTRCDD175	203.00	204.00	110,500	39,200	1,155	26	0.19
WTRCDD175	204.00	205.00	41,400	8,350	213	7	0.08
WTRCDD175	205.00	206.00	3,350	1,115	231	2	0.07
WTRCDD175	206.00	207.00	3,000	942	110	1	0.07
WTRCDD175	207.00	207.90	7,210	3,440	98	5	0.26
WTRCDD175	208.00	209.00	15,200	5,270	262	7	0.22
WTRCDD175	209.00	210.00	9,910	4,680	1,245	9	0.20
WTRCDD175	229.00	230.50	2,600	467	627	5	0.26
WTRCDD175	230.50	232.00	10,550	1,495	1,195	10	0.47
WTRCDD175	232.00	233.00	4,760	1,505	2,630	19	0.99
WTRCDD175	233.00	233.50	2,050	688	1,275	9	0.22
WTRCDD175	233.55	235.00	4,160	992	899	11	0.59
WTRCDD175	235.00	236.00	3,480	685	454	8	0.40
WTRCDD175	236.00	237.00	1,300	332	71	3	0.16
WTRCDD175	237.00	238.00	970	140	66	3	0.17
WTRCDD175	238.00	239.00	618	259	76	4	0.22
WTRCDD175	239.00	240.00	821	144	692	5	0.22
WTRCDD175	240.00	241.00	1,020	104	626	4	0.12
WTRCDD175	241.00	242.00	4,610	697	950	6	0.12
WTRCDD175	242.00	243.00	2,270	331	190	3	0.13
WTRCDD175	243.00	244.00	922	155	46	2	0.13
WTRCDD175	244.00	245.00	1,460	160	199	3	0.10
WTRCDD175	245.00	246.00	3,000	221	609	3	0.12
WTRCDD175	246.00	247.00	843	77	64	1	0.05
WTRCDD175	247.00	248.00	1,330	93	92	1	0.10
WTRCDD175	248.00	249.00	3,400	283	1,770	10	0.23
WTRCDD175	249.00	250.00	792	127	415	3	0.10
WTRCDD175	250.00	251.00	15,500	2,740	61	3	0.06
WTRCDD175	251.00	252.00	17,600	6,250	28	5	0.07
WTRCDD175	252.00	253.00	18,700	1,030	144	2	0.05
WTRCDD175	253.00	254.00	3,140	124	380	3	0.09
WTRCDD179	179.00	180.00	380	138	46	2	-0.01
WTRCDD179	180.00	181.00	370	144	66	8	0.12
WTRCDD179	181.00	182.00	14,750	27,900	6,190	998	5.55
WTRCDD179	182.00	183.00	49,000	6,620	3,150	479	9.12
WTRCDD179	183.00	184.00	40,100	36,700	10,900	546	3.64

Peel Mining Limited – Quarterly Report March 2019

==> picture [138 x 69] intentionally omitted <==

HOLE ID	FROM(m)	TO(m)	Zn(ppm)	Pb(ppm)	Cu(ppm)	Ag (ppm)	Au(ppm)
WTRCDD179	184.00	185.00	48,600	37,500	38,600	625	2.70
WTRCDD179	185.00	186.00	137,500	44,600	14,900	357	0.56
WTRCDD179	186.00	187.00	219,000	88,600	13,100	575	0.92
WTRCDD179	187.00	188.00	143,500	70,300	3,110	380	0.79
WTRCDD179	188.00	189.00	54,900	64,300	1,780	549	2.71
WTRCDD179	189.00	190.00	23,300	23,300	548	269	1.27
WTRCDD179	190.00	191.00	30,100	34,400	607	277	0.77
WTRCDD179	191.00	192.00	22,900	24,600	833	247	0.80
WTRCDD179	192.00	193.00	65,200	44,200	3,230	215	1.29
WTRCDD179	193.00	194.00	300,000	178,000	1,055	418	0.41
WTRCDD179	194.00	195.00	254,000	151,000	1,335	319	0.34
WTRCDD179	195.00	195.90	326,000	200,000	3,080	466	0.34
WTRCDD179	195.90	197.00	49,900	12,000	129	72	0.23
WTRCDD179	197.00	198.00	10,200	3,490	64	67	0.17
WTRCDD179	198.00	199.00	6,150	1,915	43	20	0.02
WTRCDD180	176.00	177.00	196	84	60	1	0.13
WTRCDD180	177.00	178.00	6,020	13,100	4,730	58	1.86
WTRCDD180	178.00	179.15	2,510	21,400	16,600	128	10.85
WTRCDD180	179.15	180.00	312,000	55,700	13,850	247	5.95
WTRCDD180	180.00	181.00	552,000	58,500	7,460	184	2.38
WTRCDD180	181.00	182.00	414,000	135,000	20,100	384	2.28
WTRCDD180	182.00	183.00	238,000	222,000	9,090	521	4.40
WTRCDD180	183.00	184.00	401,000	140,000	6,540	390	3.14
WTRCDD180	184.00	185.00	296,000	118,000	9,730	332	3.31
WTRCDD180	185.00	186.00	592,000	81,800	2,170	247	1.55
WTRCDD180	186.00	187.00	529,000	86,700	20,800	335	10.20
WTRCDD180	187.00	188.00	503,000	131,000	20,100	539	3.84
WTRCDD180	188.00	189.00	578,000	64,600	18,800	255	1.93
WTRCDD180	189.00	190.00	529,000	114,500	17,950	267	1.39
WTRCDD180	190.00	191.00	520,000	173,500	3,470	281	1.55
WTRCDD180	191.00	192.00	454,000	255,000	4,930	298	1.83
WTRCDD180	192.00	193.00	361,000	215,000	5,560	408	3.61
WTRCDD180	193.00	194.00	381,000	233,000	3,820	459	1.82
WTRCDD180	194.00	195.00	342,000	220,000	2,650	471	2.16
WTRCDD180	195.00	196.10	341,000	172,500	3,430	413	2.04
WTRCDD180	196.10	197.00	45,800	25,600	2,300	65	0.21
WTRCDD180	197.00	198.00	2,740	765	70	5	0.07
WTRCDD180	198.00	199.00	7,250	3,430	183	18	0.17
WTRCDD180	204.20	205.00	1,410	525	1,790	7	0.33
WTRCDD180	205.00	206.00	3,130	913	1,000	5	0.22
WTRCDD180	206.00	207.00	7,620	2,470	5,340	16	0.22
WTRCDD180	207.00	208.00	20,600	5,120	404	8	0.25
WTRCDD180	208.00	208.50	25,000	7,280	11,100	37	1.22
WTRCDD180	208.70	210.00	4,250	1,620	4,000	24	0.78
WTRCDD180	210.00	211.00	1,770	880	1,210	12	0.47
WTRCDD180	211.00	212.00	6,990	2,330	355	2	0.19
WTRCDD180	212.00	213.00	3,620	1,330	2,070	2	0.38
WTRCDD180	213.00	214.00	17,300	6,650	1,750	2	0.25
WTRCDD180	214.00	215.00	28,300	14,850	874	4	0.31
WTRCDD180	215.00	216.00	8,540	2,680	1,080	2	0.29
WTRCDD180	216.00	217.00	12,800	1,360	1,380	2	0.27
WTRCDD180	217.00	218.00	3,120	689	1,560	1	0.37
WTRCDD180	218.00	219.00	12,400	4,370	10,350	9	0.72
WTRCDD180	219.00	220.00	7,090	3,150	14,800	28	1.45

Peel Mining Limited – Quarterly Report March 2019

==> picture [138 x 69] intentionally omitted <==

HOLE ID	FROM(m)	TO(m)	Zn(ppm)	Pb(ppm)	Cu(ppm)	Ag (ppm)	Au(ppm)
WTRCDD180	220.00	221.00	887	242	6,580	5	0.33
WTRCDD180	221.00	222.00	530	136	619	1	0.15
WTRCDD180	222.00	223.00	6,030	1,600	3,490	4	0.17
WTRCDD180	223.00	224.00	128	36	196	0	0.11
WTRCDD180	224.00	225.00	708	271	1,500	3	0.23
WTRCDD180	225.00	226.00	402	78	1,250	3	0.15
WTRCDD180	241.95	243.00	2,540	830	60	2	0.06
WTRCDD180	243.00	244.00	6,110	1,800	154	6	0.16
WTRCDD180	244.00	245.00	2,370	1,280	38	2	0.03
WTRCDD180	245.00	246.00	12,350	3,550	941	9	0.15
WTRCDD180	246.00	247.00	15,400	4,650	293	8	0.07
WTRCDD180	247.00	248.00	4,260	532	237	6	0.08
WTRCDD180	248.00	249.00	13,050	4,620	1,240	12	0.08
WTRCDD180	249.00	250.00	6,990	4,050	313	7	0.07
WTRCDD180	250.00	251.00	2,420	934	205	3	0.08
WTRCDD180	251.00	252.00	1,010	259	127	2	0.05
WTRCDD180	252.00	253.00	2,670	545	3,460	23	4.10
WTRCDD180	253.00	254.00	2,620	212	600	4	0.18
WTRCDD180	254.00	255.00	7,000	1,550	227	5	0.06
WTRCDD180	255.00	256.00	1,480	382	5,670	20	0.76
WTRCDD180	256.00	257.00	10,800	3,110	1,020	12	0.20
WTRCDD180	257.00	258.00	1,800	1,020	254	4	0.14
WTRCDD180	282.00	283.00	1,380	1,100	9,910	36	0.35
WTRCDD180	283.00	284.00	795	356	6,010	19	0.38
WTRCDD180	284.00	285.00	1,610	291	1,500	4	0.09
WTRCDD180	285.00	286.00	1,950	408	1,400	3	0.04
WTRCDD182	230.20	231.00	142	33	46	1	0.02
WTRCDD182	231.00	232.00	271	338	32	2	0.05
WTRCDD182	232.00	232.70	179	38	9	0	0.01
WTRCDD182	232.90	233.90	45,000	18,550	2,590	100	1.11
WTRCDD182	234.10	235.20	9,060	1,405	1,450	33	0.38
WTRCDD182	235.70	237.00	20,400	4,390	3,120	85	0.72
WTRCDD182	237.00	238.30	2,090	1,960	748	20	0.11
WTRCDD182	238.30	239.60	10,250	6,130	1,150	37	0.16
WTRCDD182	239.60	240.90	10,750	4,610	707	15	0.11
WTRCDD182	240.90	242.10	10,800	4,200	490	10	0.15
WTRCDD182	242.10	242.55	96,400	4,110	8,080	61	1.03
WTRCDD182	242.55	243.45	276,000	39,900	4,680	130	1.60
WTRCDD182	243.45	244.30	116,000	29,200	16,200	212	2.75
WTRCDD182	244.30	244.80	184,000	61,500	2,130	132	0.92
WTRCDD182	245.60	246.20	183,000	107,500	587	95	0.36
WTRCDD182	246.20	247.00	15,600	6,090	124	8	0.11
WTRCDD182	247.00	248.00	35,100	19,900	260	17	0.12
WTRCDD182	248.00	249.00	162,000	68,700	758	35	0.24
WTRCDD182	249.00	250.00	84,500	33,700	477	20	0.21
WTRCDD182	250.00	251.00	123,500	35,600	802	16	0.28
WTRCDD182	251.00	252.00	41,100	13,600	308	5	0.25
WTRCDD182	252.00	252.60	19,200	12,700	84	6	0.07
WTRCDD182	252.90	253.30	16,550	7,920	51	3	0.24
WTRCDD182	253.70	254.70	12,650	7,830	42	3	0.10
WTRCDD182	254.90	255.10	19,050	15,400	53	11	0.10
WTRCDD182	255.50	255.90	10,850	5,920	1,910	4	0.07
WTRCDD182	256.00	257.20	13,900	1,625	1,300	2	0.09
WTRCDD182	257.20	258.00	2,200	528	199	1	0.19

Peel Mining Limited – Quarterly Report March 2019

==> picture [138 x 69] intentionally omitted <==

HOLE ID	FROM(m)	TO(m)	Zn(ppm)	Pb(ppm)	Cu(ppm)	Ag (ppm)	Au(ppm)
WTRCDD182	258.00	259.00	921	243	458	1	0.13
WTRCDD182	259.00	260.00	995	136	378	1	0.13
WTRCDD182	260.00	261.00	13,950	3,920	8,010	7	0.12
WTRCDD182	261.00	262.00	9,900	201	5,140	4	0.12
WTRCDD182	262.00	263.00	237	52	418	1	0.04
WTRCDD182	263.00	264.00	425	111	1,010	2	0.11
WTRCDD182	264.00	265.00	1,040	121	2,440	4	0.06
WTRCDD182	265.00	266.00	386	141	462	2	0.08
WTRCDD182	266.00	267.00	4,730	614	1,150	2	0.03
WTRCDD182	267.00	268.00	418	126	680	1	0.06
WTRCDD182	268.00	269.00	757	197	4,540	6	0.14
WTRCDD182	269.00	270.00	893	217	3,960	4	0.09
WTRCDD182	270.00	271.00	758	256	1,400	2	0.07
WTRCDD182	271.00	272.00	1,720	405	6,610	10	0.17
WTRCDD182	272.00	273.00	245	99	2,120	3	0.06
WTRCDD182	273.00	274.00	768	230	1,300	4	0.09
WTRCDD182	274.00	275.00	491	342	2,120	5	0.07
WTRCDD182	275.00	276.00	398	311	721	3	0.08
WTRCDD182	276.00	277.00	3,040	1,505	1,900	8	0.12
WTRCDD182	277.00	278.00	332	109	686	3	0.06
WTRCDD182	278.00	279.00	1,190	161	489	3	0.04
WTRCDD182	279.00	280.00	3,700	902	1,020	4	0.06
WTRCDD182	280.00	281.00	3,830	610	101	2	0.07
WTRCDD182	281.00	282.00	1,590	342	5,380	16	0.11
WTRCDD182	282.00	283.00	2,730	410	133	3	0.10
WTRCDD182	283.00	284.00	814	140	81	2	0.07
WTRCDD182	284.00	285.00	5,450	223	2,600	11	0.10
WTRCDD182	285.00	286.00	2,910	306	601	8	0.10
WTRCDD182	286.00	287.00	9,720	2,390	2,410	18	0.20
WTRCDD182	287.00	288.00	2,030	182	609	4	0.04
WTRCDD182	288.00	288.50	3,000	691	634	5	0.07
WTRCDD182	288.50	289.45	22,300	6,750	7,240	27	0.18
WTRCDD182	289.45	290.00	7,060	797	734	8	0.16
WTRCDD182	290.00	291.00	2,810	845	349	4	0.09
WTRCDD182	291.00	292.00	6,070	1,295	3,690	16	0.18
WTRCDD182	292.00	293.00	4,190	845	752	6	0.21
WTRCDD182	293.00	294.00	4,580	1,390	420	7	0.14
WTRCDD182	294.00	295.00	10,750	1,975	228	6	0.12
WTRCDD182	295.00	296.00	4,130	434	326	5	0.17
WTRCDD182	296.00	297.00	8,370	2,380	1,840	10	0.14
WTRCDD182	297.00	298.00	10,950	3,200	116	5	0.07
WTRCDD182	298.00	299.00	19,850	4,530	105	4	0.06
WTRCDD182	299.00	300.00	20,100	4,850	81	4	0.05
WTRCDD182	300.00	301.00	13,550	5,360	94	5	0.07
WTRCDD182	301.00	302.00	13,100	4,380	508	6	0.07
WTRCDD182	302.00	303.00	17,450	3,770	138	8	0.09
WTRCDD182	303.00	304.00	12,000	4,010	213	12	0.12
WTRCDD182	304.00	305.00	13,400	2,920	169	12	0.17
WTRCDD182	305.00	306.00	20,100	6,300	159	13	0.12
WTRCDD182	306.00	307.00	21,100	7,880	72	8	0.05
WTRCDD182	307.00	308.00	30,900	10,900	138	11	0.05
WTRCDD182	308.00	309.00	31,400	10,850	120	10	0.10
WTRCDD182	309.00	310.00	21,000	7,340	71	8	0.10
WTRCDD182	310.00	311.00	21,400	6,140	54	6	0.07

Peel Mining Limited – Quarterly Report March 2019

==> picture [138 x 69] intentionally omitted <==

HOLE ID	FROM(m)	TO(m)	Zn(ppm)	Pb(ppm)	Cu(ppm)	Ag (ppm)	Au(ppm)
WTRCDD182	311.00	312.00	13,150	4,420	228	5	0.05
WTRCDD182	312.00	313.00	21,400	6,990	736	9	0.07
WTRCDD182	313.00	314.00	31,600	10,650	982	19	0.07
WTRCDD182	314.00	315.00	21,600	8,450	382	16	0.05
WTRCDD182	315.00	316.00	13,200	6,220	87	11	0.11
WTRCDD182	316.00	317.00	20,200	4,250	98	10	0.03
WTRCDD182	317.00	318.00	23,900	7,260	104	13	-0.01
WTRCDD182	318.00	319.00	24,700	6,350	67	8	0.01
WTRCDD182	319.00	320.00	42,200	13,400	257	18	0.06
WTRCDD182	320.00	321.00	48,400	12,850	661	15	0.11
WTRCDD182	321.00	322.00	51,300	10,550	355	20	0.24
WTRCDD182	322.00	323.00	19,300	3,280	338	7	0.09
WTRCDD182	323.00	324.00	4,330	475	1,090	6	0.17
WTRCDD182	324.00	325.00	14,500	2,420	713	5	0.09
WTRCDD182	325.00	326.00	2,430	507	5,230	9	0.17
WTRCDD182	326.00	327.00	636	218	214	2	0.05
WTRCDD182	327.00	328.00	623	185	288	2	0.06
WTRCDD182	357.50	358.50	812	170	22	1	0.07
WTRCDD182	358.50	359.50	612	221	21	24	0.09
WTRCDD182	359.50	360.50	498	417	110	19	0.18
WTRCDD184	255.00	256.00	148	43	46	0	0.01
WTRCDD184	255.00	256.00	134	39	48	0	0.01
WTRCDD184	256.00	257.00	150	49	47	1	0.01
WTRCDD184	257.00	258.00	429	53	38	1	0.01
WTRCDD184	258.00	259.00	1,980	226	76	3	0.04
WTRCDD184	259.00	260.00	1,020	231	52	2	0.03
WTRCDD184	260.00	261.00	2,200	391	71	3	0.06
WTRCDD184	261.00	262.00	7,150	1,530	120	7	0.09
WTRCDD184	262.00	263.00	4,610	1,080	59	5	0.06
WTRCDD184	263.10	264.00	1,860	840	68	4	0.08
WTRCDD184	264.00	265.00	2,040	1,575	72	5	0.08
WTRCDD184	265.00	266.00	696	452	99	3	0.13
WTRCDD184	266.00	267.00	831	190	296	3	0.21
WTRCDD184	267.00	268.00	1,000	113	1,740	9	0.23
WTRCDD184	268.00	269.00	973	163	4,840	21	0.32
WTRCDD184	269.00	270.00	839	135	1,340	8	0.16
WTRCDD184	293.00	294.00	379	47	65	0	0.08
WTRCDD184	294.00	295.00	484	49	31	1	0.07
WTRCDD184	295.00	296.00	611	66	117	3	0.07
WTRCDD184	296.00	297.00	1,010	185	1,550	2	0.20
WTRCDD184	297.00	298.00	4,630	1,525	12,600	5	0.43
WTRCDD184	298.00	299.00	2,120	508	6,760	2	0.22
WTRCDD184	299.00	300.00	1,350	235	7,210	3	0.21
WTRCDD184	300.00	301.00	6,680	3,160	27,000	8	1.57
WTRCDD184	301.00	302.00	1,950	1,360	11,950	4	1.16
WTRCDD184	302.00	303.00	1,260	417	3,470	2	0.27
WTRCDD184	303.00	304.00	491	302	2,890	1	0.23
WTRCDD184	304.00	305.00	947	731	5,970	3	0.33
WTRCDD184	305.00	306.00	538	299	9,900	4	0.27
WTRCDD184	306.00	307.00	497	219	1,120	2	0.13
WTRCDD184	307.00	308.00	3,740	1,970	19,350	8	0.37
WTRCDD184	308.00	309.00	6,560	1,800	14,700	6	0.29
WTRCDD184	309.00	310.00	12,000	2,220	1,810	2	0.21
WTRCDD184	310.00	311.00	4,390	271	567	1	0.24

Peel Mining Limited – Quarterly Report March 2019

==> picture [138 x 69] intentionally omitted <==

HOLE ID	FROM(m)	TO(m)	Zn(ppm)	Pb(ppm)	Cu(ppm)	Ag (ppm)	Au(ppm)
WTRCDD184	318.00	319.00	6,880	1,730	285	3	0.11
WTRCDD184	319.00	320.00	3,320	518	56	3	0.11
WTRCDD184	320.00	321.30	12,350	2,940	165	8	0.14
WTRCDD189	336.00	337.20	47,400	19,000	647	58	0.44
WTRCDD189	337.20	338.00	429,000	200,000	1,520	497	0.55
WTRCDD189	338.00	339.00	460,000	201,000	2,950	440	0.51
WTRCDD189	339.00	339.80	300,000	176,500	2,360	467	0.50
WTRCDD189	339.80	340.85	300,000	135,000	3,430	284	0.30
WTRCDD189	340.85	341.40	300,000	159,000	2,450	334	0.44
WTRCDD189	341.40	342.00	132,500	80,500	1,500	145	0.14
WTRCDD189	342.00	342.50	154,000	59,100	4,150	160	0.70
WTRCDD189	342.50	343.00	15,900	14,150	169	25	0.14
WTRCDD189	343.00	344.00	21,200	9,770	140	19	0.16
WTRCDD189	344.00	344.50	22,000	8,830	100	22	0.11
WTRCDD189	344.50	345.00	30,900	11,900	139	21	0.16
WTRCDD199	222.00	223.00	364	159	42	1	0.03
WTRCDD199	223.00	224.00	655	350	60	2	0.07
WTRCDD199	224.00	224.75	32,200	20,900	11,550	77	2.31
WTRCDD199	224.75	226.00	379,000	208,000	9,950	625	9.14
WTRCDD199	226.00	227.00	300,000	154,500	4,680	292	1.33
WTRCDD199	227.00	228.00	300,000	104,000	4,950	223	1.41
WTRCDD199	228.00	229.00	295,000	154,000	2,810	250	2.55
WTRCDD199	229.00	230.00	300,000	175,000	2,270	300	2.02
WTRCDD199	230.00	231.00	220,000	296,000	2,130	317	1.86
WTRCDD199	231.00	232.00	284,000	160,500	1,480	339	1.60
WTRCDD199	232.00	233.00	252,000	236,000	966	284	1.34
WTRCDD199	233.00	234.00	300,000	197,000	2,270	364	1.42
WTRCDD199	234.00	235.00	178,000	69,800	965	206	1.66
WTRCDD199	235.00	236.00	426,000	214,000	1,160	344	0.38
WTRCDD199	236.00	237.00	300,000	137,500	1,595	203	0.94
WTRCDD199	237.00	237.80	372,000	147,500	2,530	207	0.50
WTRCDD199	237.80	238.90	288,000	124,000	1,440	165	0.51
WTRCDD199	239.80	241.10	269,000	127,500	1,350	126	0.40
WTRCDD199	241.80	242.30	153,000	73,600	770	62	0.36
WTRCDD199	242.30	243.30	41,800	15,200	305	13	0.13

Wirlong Diamond Lab Assay Results received during the quarter

HOLE ID	FROM(m)	TO(m)	Zn(ppm)	Pb(ppm)	Cu(ppm)	Ag (ppm)	Au(ppm)
WLRCDD059W1	467.70	469.00	79	4	169	0	-0.01
WLRCDD059W1	469.00	470.00	241	10	7,540	2	0.02
WLRCDD059W1	470.00	471.00	199	16	6,240	2	0.03
WLRCDD059W1	471.00	472.00	136	30	1,880	1	0.01
WLRCDD059W1	472.00	473.00	157	6	1,180	0	0.01
WLRCDD059W1	473.00	474.00	102	14	387	0	0.01
WLRCDD059W1	474.00	475.00	274	36	6,420	2	0.02
WLRCDD059W1	475.00	476.00	6,430	723	3,440	2	0.01
WLRCDD059W1	476.00	477.00	791	340	698	1	0.01
WLRCDD059W1	477.00	478.00	1,290	2,090	842	3	0.01
WLRCDD059W1	484.85	485.50	1,740	62	29,600	14	0.07
WLRCDD059W1	485.50	486.10	227	28	1,925	1	0.01
WLRCDD059W1	513.50	514.50	55	7	1,385	1	0.01
WLRCDD059W1	514.50	515.50	76	13	3,130	2	0.01
WLRCDD059W1	515.50	516.20	85	5	4,340	2	0.01
WLRCDD059W1	523.00	524.20	191	8	10,900	6	0.02

Peel Mining Limited – Quarterly Report March 2019

==> picture [138 x 69] intentionally omitted <==

HOLE ID	FROM(m)	TO(m)	Zn(ppm)	Pb(ppm)	Cu(ppm)	Ag (ppm)	Au(ppm)
WLRCDD059W1	529.00	529.50	117	4	8,370	2	0.01
WLRCDD059W1	622.90	623.90	53	37	103	0	0.01
WLRCDD059W1	623.90	624.90	76	39	113	0	0.01
WLRCDD059W1	624.90	625.90	45	35	109	0	0.01
WLRCDD059W1	625.90	627.10	40	36	46	0	0.01
WLRCDD059W1	647.00	648.00	124	34	71	0	0.01
WLRCDD059W1	648.00	649.00	34	31	15	0	0.01
WLRCDD059W1	649.00	649.70	37	34	16	0	0.01
WLRCDD060	463.00	464.20	9,300	4,410	12	2	-0.01
WLRCDD060	571.00	572.00	479	118	1,525	1	-0.01
WLRCDD060	604.90	606.00	109	15	5,680	2	-0.01
WLRCDD060	606.00	607.00	83	11	3,570	1	-0.01
WLRCDD060	607.00	608.00	132	31	5,840	2	-0.01
WLRCDD060	608.00	609.00	58	13	2,450	1	-0.01
WLRCDD060	609.00	610.00	94	11	5,780	2	-0.01
WLRCDD060	610.00	611.00	92	10	4,620	2	-0.01
WLRCDD060	611.00	612.00	91	18	3,840	1	-0.01
WLRCDD060	612.00	613.00	120	6	5,930	2	-0.01
WLRCDD060	613.00	614.00	74	12	902	0	-0.01
WLRCDD060	614.00	615.00	126	13	4,480	1	-0.01
WLRCDD060	615.00	616.00	308	60	31,500	9	0.01
WLRCDD060	620.00	621.00	116	7	6,800	2	-0.01
WLRCDD060	621.00	622.00	54	5	1,750	1	-0.01
WLRCDD060	622.00	623.00	41	5	617	0	-0.01
WLRCDD060	623.00	624.00	64	5	3,680	1	-0.01

Bedooba Percussion Lab Assay Results received during the quarter

HOLE ID	FROM(m)	TO(m)	Zn(ppm)	Pb(ppm)	Cu(ppm)	Ag (ppm)	Au(ppm)
BERC001	0.00	5.00					-0.01
BERC001	5.00	10.00					-0.01
BERC001	10.00	15.00					-0.01
BERC001	15.00	20.00					-0.01
BERC001	20.00	25.00					-0.01
BERC001	25.00	30.00					-0.01
BERC001	30.00	36.00					-0.01
BERC001	36.00	42.00					-0.01
BERC001	42.00	48.00					-0.01
BERC001	48.00	54.00					-0.01
BERC001	54.00	60.00					-0.01
BERC001	60.00	66.00					-0.01
BERC001	66.00	72.00					-0.01
BERC001	72.00	78.00					-0.01
BERC001	78.00	84.00					-0.01
BERC001	84.00	90.00					-0.01
BERC001	90.00	96.00					-0.01
BERC001	96.00	102.00					-0.01
BERC001	102.00	108.00					-0.01
BERC001	108.00	115.00					-0.01
BERC001	115.00	116.00	666	473	26	1	-0.01
BERC001	116.00	117.00	286	420	115	1	-0.01
BERC001	117.00	118.00	132	38	30	0	-0.01
BERC001	118.00	119.00	122	65	63	0	-0.01
BERC001	119.00	120.00	114	33	43	1	0.02
BERC001	120.00	121.00	100	19	37	0	0.02

Peel Mining Limited – Quarterly Report March 2019

==> picture [138 x 69] intentionally omitted <==

HOLE ID	FROM(m)	TO(m)	Zn(ppm)	Pb(ppm)	Cu(ppm)	Ag (ppm)	Au(ppm)
BERC001	121.00	122.00	138	11	9	0	0.01
BERC001	122.00	123.00	128	22	192	0	0.12
BERC001	123.00	124.00	115	13	222	0	0.02
BERC001	124.00	125.00	117	21	48	0	0.02
BERC001	125.00	126.00	141	52	449	0	0.07
BERC001	126.00	127.00	161	93	366	1	0.08
BERC001	127.00	128.00	322	56	659	0	-0.01
BERC001	128.00	129.00	324	106	1,255	1	0.01
BERC001	129.00	130.00	95	5	8	0	-0.01
BERC001	130.00	136.00					-0.01
BERC001	136.00	142.00					-0.01
BERC001	142.00	148.00					-0.01
BERC001	148.00	154.00					-0.01
BERC001	154.00	160.00					-0.01
BERC001	160.00	166.00					0.01
BERC001	166.00	169.00					-0.01
BERC001	169.00	170.00	237	33	143	0	0.06
BERC001	170.00	171.00	1,320	255	843	1	0.01
BERC001	171.00	172.00	1,740	249	390	1	0.01
BERC001	172.00	173.00	261	49	67	0	0.01
BERC001	173.00	174.00	587	296	133	1	0.01
BERC001	174.00	175.00	262	129	78	1	-0.01
BERC001	175.00	176.00	187	54	74	0	0.01
BERC001	176.00	177.00	124	11	16	0	-0.01
BERC001	177.00	178.00	97	6	7	0	-0.01
BERC001	178.00	179.00	107	6	7	0	-0.01
BERC001	179.00	180.00	90	5	6	0	-0.01
BERC001	180.00	181.00	166	10	22	0	-0.01
BERC001	181.00	182.00	859	63	211	0	-0.01
BERC001	182.00	183.00	783	48	68	0	-0.01
BERC001	183.00	184.00	238	17	22	0	-0.01
BERC001	184.00	185.00	519	142	191	1	0.04
BERC001	185.00	186.00	272	72	549	1	0.04
BERC001	186.00	187.00	480	217	649	1	0.33
BERC001	187.00	188.00	339	70	81	0	0.01
BERC001	188.00	189.00	1,220	453	43	2	-0.01
BERC001	189.00	190.00	516	161	17	1	-0.01
BERC001	190.00	191.00	749	215	120	1	-0.01
BERC001	191.00	192.00	222	33	16	0	0.01
BERC001	192.00	193.00	224	31	33	0	0.01
BERC001	193.00	194.00	392	80	40	0	-0.01
BERC001	194.00	195.00	1,060	140	115	0	-0.01
BERC001	195.00	196.00	2,590	320	141	1	0.01
BERC001	196.00	197.00	229	33	11	0	0.55
BERC001	197.00	198.00	157	19	11	0	0.01
BERC001	198.00	204.00					-0.01
BERC001	204.00	210.00					-0.01
BERC001	210.00	216.00					0.01
BERC001	216.00	222.00					0.01
BERC001	222.00	228.00					0.01
BERC001	228.00	234.00					0.01
BERC001	234.00	240.00					0.01
BERC001	240.00	246.00					0.01
BERC001	246.00	252.00					0.04

Peel Mining Limited – Quarterly Report March 2019

==> picture [138 x 69] intentionally omitted <==

HOLE ID	FROM(m)	TO(m)	Zn(ppm)	Pb(ppm)	Cu(ppm)	Ag (ppm)	Au(ppm)
BERC001	252.00	259.00					0.01
BERC001	259.00	260.00	200	16	18	0	0.01
BERC001	260.00	261.00	223	28	10	0	0.01
BERC001	261.00	262.00	328	101	40	0	-0.01
BERC001	262.00	263.00	402	48	94	0	0.01
BERC001	263.00	264.00	308	16	39	0	0.02
BERC001	264.00	265.00	238	14	13	0	0.01
BERC001	265.00	266.00	746	233	49	1	0.01
BERC001	266.00	267.00	221	42	27	0	0.01
BERC001	267.00	268.00	203	55	19	0	0.01
BERC001	268.00	269.00	137	30	10	0	0.01
BERC001	269.00	270.00	625	19	146	0	0.01
BERC001	270.00	276.00					0.02
BERC001	276.00	282.00					0.03
BERC001	282.00	288.00					0.03
BERC001	288.00	294.00					0.02
BERC001	294.00	300.00					0.01
BERC001	300.00	306.00					0.01
BERC001	306.00	312.00					0.01
BERC001	312.00	318.00					0.03
BERC001	318.00	324.00					0.02
BERC001	324.00	330.00					0.05
BERC001	330.00	336.00					0.02
BERC001	336.00	342.00					0.05
BERC001	342.00	347.00					0.06
BERC001	347.00	348.00	80	4	659	0	0.15
BERC001	348.00	349.00	68	3	303	0	0.07
BERC001	349.00	350.00	174	2	125	0	0.01
BERC001	350.00	351.00	84	3	94	0	0.02
BERC001	351.00	352.00	65	3	36	-0	0.01
BERC001	352.00	353.00	57	2	10	-0	0.01
BERC001	353.00	354.00	60	2	71	0	0.01
BERC001	354.00	355.00	52	3	27	-0	0.01
BERC001	355.00	356.00	153	3	725	0	0.04
BERC001	356.00	357.00	73	2	90	0	0.03
BERC001	357.00	358.00	85	5	355	0	0.16
BERC001	358.00	359.00	81	4	344	0	0.20
BERC001	359.00	365.00					0.01
BERC001	365.00	371.00					0.01
BERC001	371.00	377.00					-0.01
BERC001	377.00	383.00					-0.01
BERC001	383.00	389.00					0.01
BERC001	389.00	395.00					0.03
BERC001	395.00	396.00	62	6	27	0	0.27
BERC001	396.00	397.00	64	4	46	0	0.12
BERC001	397.00	398.00	206	3	2	0	0.19
BERC001	398.00	399.00	59	3	3	0	0.08
BERC001	399.00	400.00	46	3	3	-0	0.01
BERC001	400.00	401.00	41	3	2	-0	0.01
BERC001	401.00	402.00	40	2	2	-0	0.01
BERC001	402.00	403.00	63	2	41	0	0.01
BERC002	0.00	6.00					-0.01
BERC002	6.00	12.00					-0.01
BERC002	12.00	18.00					-0.01

Peel Mining Limited – Quarterly Report March 2019

==> picture [138 x 69] intentionally omitted <==

HOLE ID	FROM(m)	TO(m)	Zn(ppm)	Pb(ppm)	Cu(ppm)	Ag (ppm)	Au(ppm)
BERC002	18.00	24.00					-0.01
BERC002	24.00	30.00					-0.01
BERC002	30.00	36.00					-0.01
BERC002	36.00	42.00					-0.01
BERC002	42.00	48.00					-0.01
BERC002	48.00	54.00					-0.01
BERC002	54.00	60.00					-0.01
BERC002	60.00	66.00					-0.01
BERC002	66.00	72.00					-0.01
BERC002	72.00	78.00					-0.01
BERC002	78.00	84.00					-0.01
BERC002	84.00	90.00					-0.01
BERC002	90.00	96.00					-0.01
BERC002	96.00	102.00					-0.01
BERC002	102.00	108.00					-0.01
BERC002	108.00	114.00					-0.01
BERC002	114.00	120.00					0.01
BERC002	120.00	126.00					-0.01
BERC002	126.00	132.00					-0.01
BERC002	132.00	138.00					-0.01
BERC002	138.00	144.00					-0.01
BERC002	144.00	150.00					-0.01
BERC002	150.00	156.00					-0.01
BERC002	156.00	162.00					-0.01
BERC002	162.00	168.00					-0.01
BERC002	168.00	174.00					-0.01
BERC002	174.00	180.00					-0.01
BERC002	180.00	186.00					-0.01
BERC002	186.00	192.00					-0.01
BERC002	192.00	194.00					-0.01
BERC002	194.00	195.00	132	37	102	0	-0.01
BERC002	195.00	196.00	467	119	92	0	-0.01
BERC002	196.00	197.00	3,250	701	93	2	-0.01
BERC002	197.00	198.00	257	48	75	0	-0.01
BERC002	198.00	199.00	145	19	136	0	-0.01
BERC002	199.00	200.00	191	20	27	0	-0.01
BERC002	200.00	201.00	1,930	21	312	0	0.01
BERC002	201.00	202.00	360	16	663	0	0.01
BERC002	202.00	208.00					-0.01
BERC002	208.00	214.00					0.01
BERC002	214.00	218.00					0.01
BERC002	218.00	219.00	132	3	52	0	0.01
BERC002	219.00	220.00	102	3	27	0	0.01
BERC002	220.00	221.00	140	36	2,140	1	0.02
BERC002	221.00	222.00	326	49	14,550	5	0.06
BERC002	222.00	223.00	88	4	324	0	-0.01
BERC002	223.00	224.00	127	6	44	0	-0.01
BERC002	224.00	230.00					-0.01
BERC002	230.00	236.00					0.15
BERC002	236.00	242.00					0.01
BERC002	242.00	248.00					0.01
BERC002	248.00	254.00					0.01
BERC002	254.00	259.00					0.01
BERC002	259.00	260.00	194	14	251	0	0.01

Peel Mining Limited – Quarterly Report March 2019

==> picture [138 x 69] intentionally omitted <==

HOLE ID	FROM(m)	TO(m)	Zn(ppm)	Pb(ppm)	Cu(ppm)	Ag (ppm)	Au(ppm)
BERC002	260.00	261.00	70	12	47	0	0.04
BERC002	261.00	262.00	67	13	5	0	0.01
BERC002	262.00	263.00	75	37	11	0	0.01
BERC002	263.00	264.00	66	25	213	1	0.05
BERC002	264.00	265.00	67	6	14	0	-0.01
BERC002	265.00	266.00	97	5	31	0	-0.01
BERC002	266.00	267.00	65	7	3	0	-0.01
BERC002	267.00	268.00	61	6	2	0	-0.01
BERC002	268.00	269.00	58	5	4	0	-0.01
BERC002	269.00	270.00	60	50	2	1	0.01
BERC002	270.00	271.00	53	10	2	0	0.01
BERC002	271.00	272.00	90	27	150	1	0.03
BERC002	272.00	273.00	61	15	83	0	0.02
BERC002	273.00	274.00	44	5	23	0	0.01
BERC002	274.00	275.00	47	6	12	0	-0.01
BERC002	275.00	276.00	40	6	7	0	-0.01
BERC002	276.00	277.00	41	8	4	0	-0.01
BERC002	277.00	278.00	148	11	16	0	0.01
BERC002	278.00	279.00	78	12	16	0	0.01
BERC002	279.00	280.00	89	38	9	1	0.07
BERC002	280.00	281.00	93	19	8	0	0.06
BERC002	281.00	282.00	114	9	42	0	0.04
BERC002	282.00	283.00	99	7	34	0	0.02
BERC002	283.00	284.00	89	3	21	0	0.01
BERC002	284.00	285.00	107	7	9	0	-0.01
BERC002	285.00	286.00	81	7	3	0	0.01
BERC002	286.00	287.00	162	20	8	0	0.01
BERC002	287.00	288.00	160	10	19	0	0.01
BERC002	288.00	289.00	164	35	10	1	0.01
BERC002	289.00	290.00	174	14	0	0	0.01
BERC002	290.00	291.00	106	15	39	0	-0.01
BERC002	291.00	292.00	70	7	15	0	-0.01
BERC002	292.00	293.00	65	7	10	0	-0.01
BERC002	293.00	294.00	76	9	2	0	-0.01
BERC002	294.00	295.00	113	5	1	0	0.01
BERC002	295.00	296.00	84	5	21	0	0.01
BERC002	296.00	297.00	88	6	69	0	0.06
BERC002	297.00	298.00	104	7	41	0	0.05
BERC002	298.00	299.00	98	114	9	2	0.03
BERC002	299.00	300.00	58	15	5	0	0.02
BERC002	300.00	301.00	55	8	6	0	0.02
BERC002	301.00	302.00	71	13	11	0	0.02
BERC002	302.00	303.00	65	8	27	0	0.01
BERC002	303.00	304.00	61	6	28	0	-0.01
BERC002	304.00	305.00	67	10	54	0	0.01
BERC002	305.00	306.00	89	22	48	0	0.04
BERC002	306.00	307.00	78	12	17	0	0.01
BERC002	307.00	308.00	149	12	19	0	0.01
BERC002	308.00	309.00	73	7	36	0	-0.01
BERC002	309.00	310.00	61	5	66	0	0.01
BERC002	310.00	311.00	65	8	36	0	0.01
BERC002	311.00	312.00	54	13	8	0	0.01
BERC002	312.00	313.00	105	98	15	2	0.01
BERC002	313.00	314.00	121	59	5	1	-0.01

Peel Mining Limited – Quarterly Report March 2019

==> picture [138 x 69] intentionally omitted <==

HOLE ID	FROM(m)	TO(m)	Zn(ppm)	Pb(ppm)	Cu(ppm)	Ag (ppm)	Au(ppm)
BERC002	314.00	315.00	149	34	9	0	-0.01
BERC002	315.00	316.00	128	141	68	2	0.01
BERC002	316.00	317.00	118	36	62	0	-0.01
BERC002	317.00	318.00	112	45	37	1	0.01
BERC002	318.00	319.00	134	30	14	0	0.02
BERC002	319.00	320.00	105	8	9	0	-0.01
BERC002	320.00	321.00	144	16	22	0	0.02
BERC002	321.00	322.00	93	13	28	0	0.07
BERC002	322.00	323.00	112	10	36	0	0.05
BERC002	323.00	324.00	97	11	31	0	0.04
BERC002	324.00	325.00	109	8	47	0	0.02
BERC002	325.00	326.00	111	36	22	0	0.01
BERC002	326.00	327.00	101	12	28	0	0.02
BERC002	327.00	328.00	113	18	67	0	0.01
BERC002	328.00	329.00	92	24	18	0	0.01
BERC002	329.00	330.00	93	26	18	0	-0.01
BERC002	330.00	331.00	103	11	20	0	0.01
BERC002	331.00	332.00	142	16	22	0	-0.01
BERC002	332.00	333.00	126	17	51	0	0.01
BERC002	333.00	334.00	159	51	35	0	-0.01
BERC002	334.00	335.00	116	174	161	2	0.08
BERC002	335.00	341.00					0.01
BERC002	341.00	347.00					0.01
BERC002	347.00	353.00					0.01
BERC002	353.00	359.00					0.01
BERC002	359.00	365.00					0.01
BERC002	365.00	371.00					0.01
BERC002	371.00	377.00					0.01
BERC002	377.00	383.00					0.01
BERC002	383.00	389.00					-0.01
BERC002	389.00	390.00	69	3	10	0	0.01
BERC002	390.00	391.00	69	4	71	0	0.09
BERC002	391.00	392.00	102	3	51	0	0.02
BERC002	392.00	393.00	64	3	16	0	0.07
BERC002	393.00	394.00	65	3	6	0	0.01
BERC002	394.00	395.00	60	3	8	0	-0.01
BERC002	395.00	396.00	56	4	8	0	0.01
BERC002	396.00	397.00	91	11	16	0	0.01
BERC002	397.00	398.00	169	11	111	0	0.04
BERC002	398.00	399.00	78	8	407	0	0.04
BERC002	399.00	400.00	58	10	49	0	0.01
BERC002	400.00	401.00	84	4	21	0	0.01
BERC002	401.00	402.00	173	3	85	0	0.01
BERC002	402.00	403.00	139	4	113	0	0.01
BERC003	0.00	6.00					0.01
BERC003	6.00	12.00					0.01
BERC003	12.00	18.00					-0.01
BERC003	18.00	24.00					0.10
BERC003	24.00	30.00					-0.01
BERC003	30.00	36.00					0.01
BERC003	36.00	42.00					0.01
BERC003	42.00	48.00					0.01
BERC003	48.00	54.00					-0.01
BERC003	54.00	60.00					-0.01

Peel Mining Limited – Quarterly Report March 2019

==> picture [138 x 69] intentionally omitted <==

HOLE ID	FROM(m)	TO(m)	Zn(ppm)	Pb(ppm)	Cu(ppm)	Ag (ppm)	Au(ppm)
BERC003	60.00	66.00					-0.01
BERC003	66.00	72.00					-0.01
BERC003	72.00	78.00					0.01
BERC003	78.00	84.00					-0.01
BERC003	84.00	90.00					0.01
BERC003	90.00	96.00					-0.01
BERC003	96.00	102.00					0.01
BERC003	102.00	108.00					-0.01
BERC003	108.00	114.00					-0.01
BERC003	114.00	120.00					-0.01
BERC003	120.00	126.00					-0.01
BERC003	126.00	132.00					-0.01
BERC003	132.00	138.00					0.02
BERC003	138.00	144.00					-0.01
BERC003	144.00	150.00					0.01
BERC003	150.00	156.00					0.01
BERC003	156.00	162.00					-0.01
BERC003	162.00	168.00					-0.01
BERC003	168.00	174.00					-0.01
BERC003	174.00	180.00					0.01
BERC003	180.00	186.00					-0.01
BERC003	186.00	192.00					0.01
BERC003	192.00	198.00					0.02
BERC003	198.00	204.00					0.01
BERC003	204.00	210.00					0.01
BERC003	210.00	216.00					0.02
BERC003	216.00	219.00					-0.01
BERC003	219.00	220.00	157	3	13	-0	-0.01
BERC003	220.00	221.00	69	3	61	0	-0.01
BERC003	221.00	222.00	60	4	346	0	-0.01
BERC003	222.00	223.00	62	3	231	0	-0.01
BERC003	223.00	224.00	224	6	2,550	1	0.01
BERC003	224.00	225.00	99	5	1,545	1	0.01
BERC003	225.00	226.00	72	4	704	0	0.01
BERC003	226.00	227.00	58	4	136	0	-0.01
BERC003	227.00	228.00	64	3	97	0	-0.01
BERC003	228.00	229.00	55	4	122	0	0.01
BERC003	229.00	230.00	108	2	56	0	0.02
BERC003	230.00	236.00					0.01
BERC003	236.00	242.00					0.01
BERC003	242.00	248.00					0.01
BERC003	248.00	254.00					0.01
BERC003	254.00	260.00					-0.01
BERC003	260.00	266.00					0.02
BERC003	266.00	272.00					0.01
BERC003	272.00	279.00					0.01
BERC003	279.00	280.00	116	9	26	0	0.01
BERC003	280.00	281.00	172	21	26	0	0.01
BERC003	281.00	282.00	161	14	32	0	0.01
BERC003	282.00	283.00	150	9	58	0	0.03
BERC003	283.00	284.00	157	16	62	0	-0.01
BERC003	284.00	285.00	118	23	86	0	-0.01
BERC003	285.00	286.00	125	12	50	0	0.01
BERC003	286.00	287.00	106	5	84	0	0.01

Peel Mining Limited – Quarterly Report March 2019

==> picture [138 x 69] intentionally omitted <==

HOLE ID	FROM(m)	TO(m)	Zn(ppm)	Pb(ppm)	Cu(ppm)	Ag (ppm)	Au(ppm)
BERC003	287.00	288.00	92	3	23	0	0.03
BERC003	288.00	289.00	47	3	14	0	0.02
BERC003	289.00	290.00	107	5	19	0	0.05
BERC003	290.00	291.00	49	5	14	0	0.01
BERC003	291.00	292.00	60	5	9	0	0.04
BERC003	292.00	293.00	70	4	2	0	0.01
BERC003	293.00	294.00	72	3	4	0	0.01
BERC003	294.00	295.00	75	3	34	0	0.01
BERC003	295.00	296.00	105	4	56	0	0.03
BERC003	296.00	297.00	66	2	3	0	0.03
BERC003	297.00	298.00	81	3	8	0	0.10
BERC003	298.00	299.00	54	4	6	0	0.01
BERC003	299.00	300.00	47	5	3	0	-0.01
BERC003	300.00	301.00	50	4	3	0	0.01
BERC003	301.00	302.00	89	4	7	0	-0.01
BERC003	302.00	308.00					-0.01
BERC003	308.00	314.00					-0.01
BERC003	314.00	315.00	62	3	3	0	0.01
BERC003	315.00	316.00	78	5	33	0	0.01
BERC003	316.00	317.00	161	11	178	0	0.01
BERC003	317.00	318.00	112	5	28	0	0.01
BERC003	318.00	319.00	56	3	15	0	-0.01
BERC003	319.00	320.00	143	4	3	0	-0.01
BERC003	320.00	326.00					-0.01
BERC003	326.00	332.00					-0.01
BERC003	332.00	338.00					-0.01
BERC003	338.00	344.00					-0.01
BERC003	344.00	350.00					0.01
BERC003	350.00	356.00					0.01
BERC003	356.00	362.00					-0.01
BERC003	362.00	368.00					-0.01
BERC003	368.00	374.00					-0.01
BERC003	374.00	380.00					-0.01
BERC003	380.00	386.00					-0.01
BERC003	386.00	390.00					-0.01
BERC003	390.00	394.00					-0.01
BERC003	394.00	395.00	194	26	139	0	-0.01
BERC003	395.00	396.00	121	15	58	0	-0.01
BERC003	396.00	397.00	196	46	20	0	-0.01
BERC003	397.00	398.00	247	7	27	0	-0.01
BERC003	398.00	399.00	178	7	31	0	-0.01
BERC003	399.00	400.00	152	25	7	0	-0.01
BERC003	400.00	401.00	161	36	3	0	-0.01
BERC003	401.00	402.00	66	6	20	0	-0.01
BERC003	402.00	403.00	62	5	9	0	-0.01
BERC004	0.00	6.00					-0.01
BERC004	6.00	12.00					-0.01
BERC004	12.00	18.00					-0.01
BERC004	18.00	24.00					-0.01
BERC004	24.00	30.00					0.01
BERC004	30.00	36.00					-0.01
BERC004	36.00	42.00					-0.01
BERC004	42.00	48.00					-0.01
BERC004	48.00	54.00					-0.01

Peel Mining Limited – Quarterly Report March 2019

==> picture [138 x 69] intentionally omitted <==

HOLE ID	FROM(m)	TO(m)	Zn(ppm)	Pb(ppm)	Cu(ppm)	Ag (ppm)	Au(ppm)
BERC004	54.00	60.00					-0.01
BERC004	60.00	66.00					-0.01
BERC004	66.00	72.00					-0.01
BERC004	72.00	78.00					-0.01
BERC004	78.00	84.00					-0.01
BERC004	84.00	90.00					0.01
BERC004	90.00	96.00					0.04
BERC004	96.00	102.00					-0.01
BERC004	102.00	106.00					-0.01
BERC004	106.00	109.00					-0.01
BERC004	109.00	110.00	155	89	37	0	-0.01
BERC004	110.00	111.00	178	53	15	0	-0.01
BERC004	111.00	112.00	239	125	25	0	-0.01
BERC004	112.00	113.00	420	213	35	0	-0.01
BERC004	113.00	114.00	895	856	33	0	0.01
BERC004	114.00	115.00	1,340	378	86	0	-0.01
BERC004	115.00	116.00	1,220	179	65	0	-0.01
BERC004	116.00	117.00	4,800	68	218	0	0.01
BERC004	117.00	118.00	1,590	29	298	0	-0.01
BERC004	118.00	119.00	340	47	320	0	0.01
BERC004	119.00	120.00	166	16	201	0	-0.01
BERC004	120.00	121.00	149	10	176	0	-0.01
BERC004	121.00	122.00	177	8	196	0	-0.01
BERC004	122.00	123.00	683	29	752	0	-0.01
BERC004	123.00	124.00	327	92	925	1	0.01
BERC004	124.00	125.00	935	298	712	2	0.01
BERC004	125.00	126.00	708	116	576	1	0.01
BERC004	126.00	127.00	149	37	592	0	0.01
BERC004	127.00	128.00	159	22	1,030	1	0.01
BERC004	128.00	129.00	156	56	1,160	1	0.02
BERC004	129.00	130.00	98	23	511	0	0.01
BERC004	130.00	131.00	97	12	107	0	-0.01
BERC004	131.00	132.00	160	18	107	0	-0.01
BERC004	132.00	133.00	208	19	72	0	-0.01
BERC004	133.00	134.00	219	11	29	0	-0.01
BERC004	134.00	135.00	203	43	18	0	-0.01
BERC004	135.00	136.00	140	21	21	0	-0.01
BERC004	136.00	137.00	165	28	69	0	0.01
BERC004	137.00	138.00	112	4	72	0	-0.01
BERC004	138.00	139.00	155	9	28	0	-0.01
BERC004	139.00	140.00	222	27	442	0	0.01
BERC004	140.00	141.00	336	64	717	1	-0.01
BERC004	141.00	147.00					-0.01
BERC004	147.00	153.00					-0.01
BERC004	153.00	159.00					-0.01
BERC004	159.00	165.00					-0.01
BERC004	165.00	171.00					-0.01
BERC004	171.00	177.00					-0.01
BERC004	177.00	181.00					-0.01
BERC004	181.00	185.00					-0.01
BERC004	185.00	186.00	358	44	292	0	-0.01
BERC004	186.00	187.00	2,070	52	95	0	-0.01
BERC004	187.00	188.00	299	29	22	0	-0.01
BERC004	188.00	189.00	1,360	194	273	1	-0.01

Peel Mining Limited – Quarterly Report March 2019

==> picture [138 x 69] intentionally omitted <==

HOLE ID	FROM(m)	TO(m)	Zn(ppm)	Pb(ppm)	Cu(ppm)	Ag (ppm)	Au(ppm)
BERC004	189.00	190.00	127	9	28	0	-0.01
BERC004	190.00	191.00	215	60	46	0	-0.01
BERC004	191.00	192.00	802	91	281	1	0.02
BERC004	192.00	193.00	227	19	192	1	0.03
BERC004	193.00	194.00	223	4	287	0	0.02
BERC004	194.00	195.00	167	6	69	0	0.01
BERC004	195.00	196.00	192	20	80	0	0.01
BERC004	196.00	197.00	201	30	1,170	2	0.08
BERC004	197.00	198.00	160	12	333	1	0.05
BERC004	198.00	199.00	127	8	105	0	0.04
BERC004	199.00	200.00	90	4	46	0	0.03
BERC004	200.00	201.00	55	3	59	0	0.02
BERC004	201.00	202.00	54	3	50	0	-0.01
BERC004	202.00	203.00	55	3	57	0	0.01
BERC004	203.00	204.00	63	5	34	0	0.03
BERC004	204.00	205.00	56	4	26	0	0.01
BERC004	205.00	206.00	164	4	192	0	0.04
BERC004	206.00	207.00	151	10	144	0	0.02
BERC004	207.00	208.00	70	6	59	0	0.01
BERC004	208.00	209.00	66	4	64	0	-0.01
BERC004	209.00	210.00	57	5	33	0	-0.01
BERC004	210.00	211.00	51	5	14	0	-0.01
BERC004	211.00	212.00	81	4	6	0	-0.01
BERC004	212.00	213.00	56	3	6	0	-0.01
BERC004	213.00	214.00	144	3	488	1	0.02
BERC004	214.00	215.00	195	22	554	1	0.04
BERC004	215.00	216.00	203	16	368	1	0.03
BERC004	216.00	217.00	179	15	244	1	0.02
BERC004	217.00	218.00	238	6	755	1	-0.01
BERC004	218.00	219.00	192	10	862	1	0.01
BERC004	219.00	220.00	187	17	911	1	0.01
BERC004	220.00	221.00	220	14	1,090	2	0.09
BERC004	221.00	222.00	166	28	71	0	0.01
BERC004	222.00	223.00	242	43	89	0	-0.01
BERC004	223.00	224.00	640	72	507	1	-0.01
BERC004	224.00	225.00	3,250	92	225	1	-0.01
BERC004	225.00	226.00	336	34	130	0	-0.01
BERC004	226.00	227.00	133	7	121	0	-0.01
BERC004	227.00	228.00	824	275	8,830	12	2.23
BERC004	228.00	229.00	317	14	412	1	0.09
BERC004	229.00	230.00	357	7	59	0	0.01
BERC004	230.00	231.00	160	4	52	0	0.01
BERC004	231.00	237.00					0.01
BERC004	237.00	243.00					-0.01
BERC004	243.00	249.00					-0.01
BERC004	249.00	255.00					-0.01
BERC004	255.00	261.00					-0.01
BERC004	261.00	267.00					-0.01
BERC004	267.00	273.00					-0.01
BERC004	273.00	279.00					-0.01
BERC004	279.00	285.00					-0.01
BERC004	285.00	291.00					-0.01
BERC004	291.00	297.00					-0.01
BERC004	297.00	303.00					-0.01

Peel Mining Limited – Quarterly Report March 2019

==> picture [138 x 69] intentionally omitted <==

HOLE ID	FROM(m)	TO(m)	Zn(ppm)	Pb(ppm)	Cu(ppm)	Ag (ppm)	Au(ppm)
BERC004	303.00	309.00					-0.01
BERC004	309.00	315.00					-0.01
BERC004	315.00	321.00					-0.01
BERC004	321.00	327.00					0.02
BERC004	327.00	333.00					0.01
BERC004	333.00	339.00					-0.01
BERC004	339.00	345.00					-0.01
BERC004	345.00	351.00					-0.01
BERC004	351.00	357.00					-0.01
BERC004	357.00	363.00					-0.01
BERC004	363.00	369.00					-0.01
BERC004	369.00	375.00					-0.01
BERC004	375.00	381.00					-0.01
BERC004	381.00	387.00					-0.01
BERC004	387.00	393.00					-0.01
BERC004	393.00	399.00					-0.01
BERC004	399.00	403.00					-0.01
BERC005	0.00	6.00					-0.01
BERC005	6.00	12.00					-0.01
BERC005	12.00	18.00					-0.01
BERC005	18.00	24.00					-0.01
BERC005	24.00	30.00					-0.01
BERC005	30.00	36.00					-0.01
BERC005	36.00	42.00					-0.01
BERC005	42.00	48.00					0.06
BERC005	48.00	54.00					0.01
BERC005	54.00	60.00					-0.01
BERC005	60.00	66.00					0.01
BERC005	66.00	72.00					0.01
BERC005	72.00	78.00					-0.01
BERC005	78.00	84.00					-0.01
BERC005	84.00	90.00					-0.01
BERC005	90.00	96.00					-0.01
BERC005	96.00	102.00					-0.01
BERC005	102.00	108.00					-0.01
BERC005	108.00	114.00					-0.01
BERC005	114.00	120.00					-0.01
BERC005	120.00	126.00					-0.01
BERC005	126.00	127.00	94	20	250	0	-0.01
BERC005	127.00	128.00	1,680	735	1,025	6	0.02
BERC005	128.00	129.00	2,000	1,310	614	4	0.01
BERC005	129.00	130.00	273	125	623	1	-0.01
BERC005	130.00	131.00	302	72	945	2	0.01
BERC005	131.00	132.00	215	31	224	0	-0.01
BERC005	132.00	133.00	135	25	110	0	-0.01
BERC005	133.00	134.00	114	9	103	0	-0.01
BERC005	134.00	135.00	148	47	913	2	0.01
BERC005	135.00	136.00	187	54	1,760	4	0.01
BERC005	136.00	137.00	90	64	700	1	0.02
BERC005	137.00	143.00					0.01
BERC005	143.00	149.00					0.06
BERC005	149.00	155.00					0.02
BERC005	155.00	161.00					-0.01
BERC005	161.00	167.00					-0.01

Peel Mining Limited – Quarterly Report March 2019

==> picture [138 x 69] intentionally omitted <==

HOLE ID	FROM(m)	TO(m)	Zn(ppm)	Pb(ppm)	Cu(ppm)	Ag (ppm)	Au(ppm)
BERC005	167.00	173.00					0.01
BERC005	173.00	179.00					0.01
BERC005	179.00	185.00					-0.01
BERC005	185.00	191.00					-0.01
BERC005	191.00	197.00					-0.01
BERC005	197.00	203.00					-0.01
BERC005	203.00	209.00					-0.01
BERC005	209.00	215.00					-0.01
BERC005	215.00	221.00					-0.01
BERC005	221.00	227.00					-0.01
BERC005	227.00	233.00					-0.01
BERC005	233.00	239.00					-0.01
BERC005	239.00	245.00					-0.01
BERC005	245.00	251.00					-0.01
BERC005	251.00	257.00					-0.01
BERC005	257.00	263.00					-0.01
BERC005	263.00	269.00					-0.01
BERC005	269.00	275.00					0.01
BERC005	275.00	281.00					-0.01
BERC005	281.00	282.00	115	7	61	0	-0.01
BERC005	282.00	283.00	126	9	504	0	0.05
BERC005	283.00	284.00	92	5	228	0	0.02
BERC005	284.00	285.00	82	4	137	0	0.02
BERC005	285.00	286.00	56	3	157	0	0.03
BERC005	286.00	287.00	66	3	790	1	0.03
BERC005	287.00	288.00	41	3	203	0	0.01
BERC005	288.00	289.00	48	3	500	0	0.09
BERC005	289.00	290.00	51	2	412	0	0.02
BERC005	290.00	291.00	44	2	164	0	0.01
BERC005	291.00	292.00	48	3	79	0	-0.01
BERC005	292.00	293.00	36	2	71	0	-0.01
BERC005	293.00	294.00	47	4	506	0	0.04
BERC005	294.00	295.00	49	2	285	0	0.01
BERC005	295.00	296.00	52	3	533	0	0.01
BERC005	296.00	297.00	54	3	226	0	0.01
BERC005	297.00	298.00	56	3	83	0	0.01
BERC005	298.00	299.00	68	3	85	0	0.02
BERC005	299.00	300.00	95	3	53	0	-0.01
BERC006	0.00	6.00					0.01
BERC006	6.00	12.00					0.01
BERC006	12.00	18.00					0.04
BERC006	18.00	24.00					0.03
BERC006	24.00	30.00					-0.01
BERC006	30.00	36.00					-0.01
BERC006	36.00	42.00					0.01
BERC006	42.00	48.00					0.01
BERC006	48.00	54.00					0.01
BERC006	54.00	60.00					-0.01
BERC006	60.00	66.00					-0.01
BERC006	66.00	72.00					0.01
BERC006	72.00	78.00					0.01
BERC006	78.00	84.00					-0.01
BERC006	84.00	90.00					-0.01
BERC006	90.00	96.00					0.03

Peel Mining Limited – Quarterly Report March 2019

==> picture [138 x 69] intentionally omitted <==

HOLE ID	FROM(m)	TO(m)	Zn(ppm)	Pb(ppm)	Cu(ppm)	Ag (ppm)	Au(ppm)
BERC006	96.00	102.00					-0.01
BERC006	102.00	108.00					-0.01
BERC006	108.00	114.00					-0.01
BERC006	114.00	120.00					-0.01
BERC006	120.00	126.00					-0.01
BERC006	126.00	132.00					-0.01
BERC006	132.00	138.00					-0.01
BERC006	138.00	144.00					-0.01
BERC006	144.00	150.00					-0.01
BERC006	150.00	156.00					0.01
BERC006	156.00	162.00					0.01
BERC006	162.00	168.00					0.02
BERC006	168.00	174.00					0.07
BERC006	174.00	180.00					0.02
BERC006	180.00	186.00					0.04
BERC006	186.00	192.00					0.06
BERC006	192.00	193.00	131	4	205	0	0.01
BERC006	193.00	194.00	91	4	98	0	0.02
BERC006	194.00	195.00	84	5	161	0	0.32
BERC006	195.00	196.00	85	5	97	0	0.19
BERC006	196.00	197.00	111	6	212	0	0.43
BERC006	197.00	198.00	113	3	146	0	0.10
BERC006	198.00	199.00	179	5	35	0	0.28
BERC006	199.00	200.00	137	4	49	0	0.70
BERC006	200.00	201.00	79	4	28	0	0.27
BERC006	201.00	202.00	54	5	11	0	0.06
BERC006	202.00	203.00	58	11	50	0	0.10
BERC006	203.00	204.00	66	5	119	0	0.03
BERC006	204.00	205.00	194	3	545	0	0.03
BERC006	205.00	206.00	166	6	1,125	1	0.56
BERC006	206.00	207.00	90	4	141	0	0.09
BERC006	207.00	208.00	77	4	77	0	0.01
BERC006	208.00	214.00					0.01
BERC006	214.00	220.00					0.01
BERC006	220.00	221.00	202	497	14	3	0.02
BERC006	221.00	222.00	163	21	16	0	0.01
BERC006	222.00	223.00	180	4	33	0	0.01
BERC006	223.00	224.00	182	4	16	0	0.01
BERC006	224.00	225.00	178	10	8	0	0.01
BERC006	225.00	226.00	155	18	4	0	0.01
BERC006	226.00	227.00	109	44	19	0	-0.01
BERC006	227.00	228.00	103	22	35	0	-0.01
BERC006	228.00	229.00	115	29	13	0	0.01
BERC006	229.00	230.00	154	28	4	0	0.01
BERC006	230.00	231.00	174	22	7	0	0.01
BERC006	231.00	232.00	188	18	16	0	-0.01
BERC006	232.00	233.00	236	6	14	0	0.01
BERC006	233.00	239.00					-0.01
BERC006	239.00	245.00					-0.01
BERC006	245.00	251.00					-0.01
BERC006	251.00	257.00					-0.01
BERC006	257.00	263.00					0.02
BERC006	263.00	269.00					0.01
BERC006	269.00	275.00					-0.01

Peel Mining Limited – Quarterly Report March 2019

==> picture [138 x 69] intentionally omitted <==

HOLE ID	FROM(m)	TO(m)	Zn(ppm)	Pb(ppm)	Cu(ppm)	Ag (ppm)	Au(ppm)
BERC006	275.00	281.00					-0.01
BERC006	281.00	282.00	137	20	717	1	0.01
BERC006	282.00	283.00	222	18	256	0	-0.01
BERC006	283.00	284.00	297	21	474	0	-0.01
BERC006	284.00	285.00	106	15	223	0	-0.01
BERC006	285.00	286.00	122	22	171	0	-0.01
BERC006	286.00	287.00	132	11	100	0	-0.01
BERC006	287.00	288.00	160	50	40	0	-0.01
BERC006	288.00	289.00	298	57	49	0	-0.01
BERC006	289.00	290.00	243	11	46	0	-0.01
BERC006	290.00	291.00	143	12	37	0	-0.01
BERC006	291.00	292.00	118	6	145	0	-0.01
BERC006	292.00	293.00	72	5	200	0	-0.01
BERC006	293.00	294.00	62	19	469	0	0.02
BERC006	294.00	295.00	77	18	883	1	0.01
BERC006	295.00	296.00	184	84	3,190	2	0.06
BERC006	296.00	297.00	85	13	944	1	0.01
BERC006	297.00	298.00	80	4	847	0	0.01
BERC006	298.00	299.00	81	3	305	0	0.01
BERC006	299.00	300.00	112	4	86	0	0.01
BERC006	300.00	306.00					0.01
BERC006	306.00	312.00					0.01
BERC006	312.00	318.00					0.01
BERC006	318.00	324.00					0.01
BERC006	324.00	330.00					0.02
BERC006	330.00	336.00					0.02
BERC006	336.00	342.00					0.01
BERC006	342.00	348.00					-0.01
BERC006	348.00	354.00					-0.01
BERC006	354.00	360.00					-0.01
BERC006	360.00	366.00					-0.01
BERC006	366.00	372.00					-0.01

Peel Mining Limited – Quarterly Report March 2019

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JORC Code, 2012 Edition Table 1 Appendices

Table 1 - Section 1 - Sampling Techniques and Data for Mallee Bull & Wagga Tank/Cobar Superbasin Projects

Criteria	JORC Code explanation	Commentary
Sampling techniques	• Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. • Aspects of the determination of mineralisation that are Material to the Public Report. • In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information.	• Diamond, Reverse Circulation (RC) and Rotary Air Blast (RAB) drilling is used to obtain samples for geological logging and assaying. • Diamond core is generally cut and sampled at 1m intervals. RC and RAB drill holes are generally sampled at 1m intervals and split using a cone splitter attached to the cyclone to generate a split of 2-4kg to ensure sample representivity. • Multi-element readings are generally taken of the diamond core and RC drill chips using an Olympus Delta Innov-X portable XRF tool. Portable XRF tools are routinely serviced, calibrated and checked against blanks/standards.
Drilling techniques	• Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).	• Drilling to date has been a combination of diamond, reverse circulation and rotary air blast. Reverse circulation drilling utilised a 5 1/2-inch diameter hammer. A blade bit was predominantly used for RAB drilling. PQ, HQ and NQ coring was/is used for diamond drilling.
Drill sample recovery	• Method of recording and assessing core and chip sample recoveries and results assessed. • Measures taken to maximise sample recovery and ensure representative nature of the samples. • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	• Core recoveries are recorded by the drillers in the field at the time of drilling and checked by a geologist or technician • RC and RAB samples are not weighed on a regular basis due to the exploration nature of drilling but no significant sample recovery issues have been encountered in a drilling program to date. • Diamond core is reconstructed into continuous runs on an angle iron cradle for orientation marking and depths are checked against the depths recorded on core blocks. Rod counts are routinely undertaken by drillers. • When poor sample recovery is encountered during drilling, the geologist and driller have endeavoured to rectify the problem to ensure maximum sample recovery. • Sample recoveries at Mallee Bull and Wirlong to date have generally been high. • Sample recoveries at Wagga Tank have been variable in places and poorer sample recoveries encountered. Insufficient data is available at present to determineifa

Peel Mining Limited – Quarterly Report March 2019

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Criteria	JORC Code explanation	Commentary
		relationship exists between recovery and grade. This will be assessed once a statistically valid amount of data is available to make a determination.
Logging	• Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. • The total length and percentage of the relevant intersections logged.	• All core and drill chip samples are geologically logged. Core samples are orientated and logged for geotechnical information. Drill chip samples are logged at 1m intervals from surface to the bottom of each individual hole to a level that will support appropriate future Mineral Resource studies. • Logging of diamond core, RC and RAB samples records lithology, mineralogy, mineralisation, structure (DDH only), weathering, colour and other features of the samples. Core is photographed as both wet and dry. • RC/Diamond holes at Wirlong were geologically logged in full. Logging at Wagga Tank/Southern Nights, Fenceline/The Bird, Boolahbone and Double Peak is still underway.
Sub-sampling techniques and sample preparation	• If core, whether cut or sawn and whether quarter, half or all core taken. • If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. • For all sample types, the nature, quality and appropriateness of the sample preparation technique. • Quality control procedures adopted for all sub- sampling stages to maximise representivity of samples. • Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. • Whether sample sizes are appropriate to the grain size of the material being sampled.	• Drill core is generally cut with a core saw and half core taken. • The RC and RAB drilling rigs were equipped with an in-built cyclone and splitting system, which provided one bulk sample of approximately 20kg and a sub- sample of 2- 4kg per metre drilled. • All samples were split using the system described above to maximise and maintain consistent representivity. The majority of samples were dry. • Bulk samples were placed in green plastic bags, with the sub-samples collected placed in calico sample bags • Field duplicates were collected by resplitting the bulk samples from large plastic bags. These duplicates were designed for lab checks. • A sample size of 2-4kg was collected and considered appropriate and representative for the grain size and style of mineralisation.
Quality of assay data and laboratory tests	• The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. • For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. • Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.	• ALS Laboratory Services is generally used for Au and multi-element analysis work carried on out on 3m to 6m composite samples and 1m split samples. The laboratory techniques below are for all samples submitted to ALS and are considered appropriate for the styles of mineralisation defined at Mallee Bull, Wirlong and Wagga Tank: o PUL-23 (Sample preparation code) o Au-AA26 Ore Grade Au 50g FA AA Finish

Peel Mining Limited – Quarterly Report March 2019

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Criteria	JORC Code explanation	Commentary
		o ME-ICP41 35 element aqua regia ICP- AES, with an appropriate Ore Grade base metal AA finish o ME-ICP61 33 element 4 acid digest ICP- AES, with an appropriate Ore Grade base metal AA finish o ME-MS61 48 element 4 acid digest ICP- MS and ICP-AES, with an appropriate Ore Grade base metal AA finish • Assaying of samples in the field was by portable XRF instruments: Olympus Delta Innov-X or Olympus Vanta Analysers. Reading time for Innov-X was 20 seconds per reading with a total 3 readings per sample. Reading time for Vanta was 10 & 20 seconds per reading with 2 readings per sample. • The QA/QC data includes standards, duplicates and laboratory checks. Duplicates for drill core are collected by the lab every 30 samples after the core sample is pulverised. Duplicates for percussion drilling are collected directly from the drill rig or the metre sample bag using a half round section of pipe. In-house QA/QC tests are conducted by the lab on each batch of samples with standards supplied by the same companies that supply our own.
Verification of sampling and assaying	• The verification of significant intersections by either independent or alternative company personnel. • The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Discuss any adjustment to assay data.	• All geological logging and sampling information is completed in spreadsheets, which are then transferred to a database for validation and compilation at the Peel head office. Electronic copies of all information are backed up periodically. • No adjustments of assay data are considered necessary.
Location of data points	• Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. • Specification of the grid system used. • Quality and adequacy of topographic control.	• A Garmin hand-held GPS is used to define the location of the samples. Standard practice is for the GPS to be left at the site of the collar for a period of 5 minutes to obtain a steady reading. Collars are picked up after by DGPS. Down-hole surveys are conducted by the drill contractors using either a Reflex gyroscopic tool with readings every 10m after drill hole completion or a Reflex electronic multishot camera will be used with readings for dip and magnetic azimuth taken every 30m down-hole. QA/QC in the field involves calibration using a test stand. The instrument is positioned with a stainless steel drill rod so as not to affect the magnetic azimuth. • Grid system used is MGA 94 (Zone 55). All down-hole magnetic surveys were converted to MGA94 grid.
Data spacing and distribution	• Data spacing for reporting of Exploration Results. • Whether the data spacing and distribution is sufficient to establish the degree of geological and	• Data/drill hole spacing is variable and appropriate to the geology and historical drilling.

Peel Mining Limited – Quarterly Report March 2019

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Criteria	JORC Code explanation	Commentary
	grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. • Whether sample compositing has been applied.	• 3m to 6m sample compositing has been applied to RC drilling at Mallee Bull and Wagga Tank for gold and/or multi-element assay.
Orientation of data in relation to geological structure	• Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. • If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	• Most drillholes are planned to intersect the interpreted mineralised structures/lodes as near to a perpendicular angle as possible (subject to access to the preferred collar position).
Sample security	• The measures taken to ensure sample security.	• The chain of custody is managed by the project geologist who places calico sample bags in polyweave sacks. Up to 5 calico sample bags are placed in each sack. Each sack is clearly labelled with: o Peel Mining Ltd o Address of Laboratory o Sample range • Detailed records are kept of all samples that are dispatched, including details of chain of custody.
Audits or reviews	• The results of any audits or reviews of sampling techniques and data.	• Data is validated when loading into the database. No formal external audit has been conducted.

Table 1 - Section 2 - Reporting of Exploration Results for Mallee Bull/Wagga Tank/Cobar Superbasin Projects

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 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 Mallee Bull prospect is wholly located within EL7461 “Gilgunnia”. The tenement is subject to a 50:50 Joint Venture with CBH Resources Ltd, a wholly owned subsidiary of Toho Zinc Co Ltd. • The Cobar Superbasin Project comprises of multiple exploration licences that are subject to a farm-in agreement with JOGMEC whereby JOGMEC can earn up to 50%. • The Wagga Tank Project comprises of EL6695, EL7226, EL7484 and EL7581 and are 100%-owned by Peel Mining Ltd, subject to 2% NSR royalty agreement with MMG Ltd. • The tenements is in good standing and no known impediments exist.
Exploration done by other parties	• Acknowledgment and appraisal of exploration by other parties.	• Work in the Mallee Bull area was completed by several former tenement holders including Triako Resources between 2003 and 2009; it included diamond drilling, IP surveys, geological mapping and reconnaissance geochemical sampling around the historic Four Mile Goldfield area. Prior to Triako Resources, PasmincoExplorationexplored the Cobar

Peel Mining Limited – Quarterly Report March 2019

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Criteria	JORC Code explanation	Commentary
		Basin area for a “Cobar-type” or “Elura- type” zinc-lead-silver or copper-gold-lead- zinc deposit. • Work at Wagga Tank was completed by multiple previous explorers including Newmont, Homestake, Amoco, Cyprus, Arimco, Golden Cross, Pasminco and MMG.
Geology	• Deposit type, geological setting and style of mineralisation.	• The Mallee Bull prospect area lies within the Cobar-Mt Hope Siluro-Devonian sedimentary and volcanic units. The northern Cobar region consists of predominantly sedimentary units with tuffaceous member, whilst the southern Mt Hope region consists of predominantly felsic volcanic rocks; the Mallee Bull prospect seems to be located in an area of overlap between these two regions. Mineralization at the Mallee Bull discovery features the Cobar-style attributes of short strike lengths (<200m), narrow widths (5- 20m) and vertical continuity, and occurs as a shoot-like structure dipping moderately to the west. • Wagga Tank is believed to be a volcanichosted massive sulphide (VHMS) deposit, and is located ~130 km south of Cobar on the western edge of the Cobar Superbasin. The deposit is positioned at the westernmost exposure of the Mt. Keenan Volcanics (Mt. Hope Group) where it is conformably overlain by a poorly- outcropping, distal turbidite sequence of carbonaceous slate and siltstone. Mineralisation is hosted in a sequence of rhyodacitic volcanic and associated volcaniclastic rocks comprising polymictic conglomerate, sandstone, slate, crystal- lithic tuff and crystal tuff. This sequence faces northwest, strikes northeast- southwest and dips range from moderate westerly, to vertical, and locally overturned to the east. Mineralisation straddles the contact between the volcaniclastic facies and the siltstone-slate facies where there is a broad zone of intense tectonic brecciation and hydrothermal alteration (sericite- chlorite with local silicification).
Drill hole Information	• A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: `o` easting and northing of the drill hole collar `o` elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar `o` dip and azimuth of the hole `o` down hole length and interception depth `o` hole length.	• All relevant information material to the understanding of exploration results has been included within the body of the announcement or as appendices. • No information has been excluded.

Peel Mining Limited – Quarterly Report March 2019

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Criteria	JORC Code explanation	Commentary
	• 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.
Data aggregation methods	• In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated. • Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. • The assumptions used for any reporting of metal equivalent values should be clearly stated.	• No length weighting or top-cuts have been applied. • No metal equivalent values are used for reporting exploration results.
Relationship between mineralisation widths and intercept lengths	• These relationships are particularly important in the reporting of Exploration Results. • If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. • If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg‘down hole length, true width not known’).	• True widths are generally estimated to be about 90-100% of the downhole width unless otherwise indicated.
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.	• Refer to Figures in the body of text.
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.	• All results are reported.
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.	• No other substantive exploration data are available.
Further work	• The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling). • Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	• The pre-feasibility study at Mallee Bull is ongoing and will incorporate the information obtained from the completed infill drilling program for the upper portion of the resource model. • Further drilling and geophysical surveying is planned for Wagga Tank-Southern Nights and Fenceline-The Bird.

Peel Mining Limited – Quarterly Report March 2019

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TENEMENT INFORMATION AS REQUIRED BY LISTING RULE 5.3.3

NSW Granted Tenements

TENEMENT	PROJECT	LOCATION	OWNERSHIP
EL7519	Gilgunnia South	Cobar,NSW	100%
EL7976	Mundoe	Cobar,NSW	100%
EL8070	Tara	Cobar,NSW	100%
EL8071	Manuka	Cobar,NSW	100%
EL8105	Mirrabooka	Cobar,NSW	100%
EL8112	Yackerboon	Cobar,NSW	100%
EL8113	Iris Vale	Cobar,NSW	100%
EL8114	Yara	Cobar,NSW	100%
EL8117	Illewong	Cobar,NSW	100%
EL8125	Hillview	Cobar,NSW	100%
EL8126	Norma Vale	Cobar,NSW	100%
EL8201	Mundoe North	Cobar,NSW	100%
EL8307	SandyCreek	Cobar,NSW	100%
EL8314	Glenwood	Cobar,NSW	100%
EL8345	Pine Ridge	Cobar,NSW	100%
EL8534	Burthong	Cobar,NSW	100%
EL7461	Gilgunnia	Cobar,NSW	50%
ML1361	MayDay	Cobar,NSW	50%
EL6695	Wagga Tank	Cobar,NSW	100%
EL7226	Wongawood	Cobar,NSW	100%
EL7484	Mt View	Cobar,NSW	100%
EL8414	Mt Walton	Cobar,NSW	100%
EL8447	Linera	Cobar,NSW	100%
EL8562	Nombinnie	Cobar,NSW	100%
EL7711	RubySilver	Armidale,NSW	100%
EL8326	Attunga	Attunga,NSW	100%
EL8450	Beanbah	Cobar,NSW	100%
EL8451	Michelago	Cooma,NSW	100%
EL8656	Marigold	Cobar,NSW	100%
EL8655	Brambah	Cobar,NSW	100%
EL8721	Bilpa	Broken Hill,NSW	100%
EL8722	Cymbric Vale	Broken Hill,NSW	100%
EL8790	Comarto	Broken Hill,NSW	100%
EL8791	Devon	Broken Hill,NSW	100%
ELA5752	Grommet	Cobar,NSW	100%

Peel Mining Limited – Quarterly Report March 2019

AI assistant

PEEL MINING LIMITED Interim / Quarterly Report 2019

65545_rns_2019-04-29_00c800e0-2697-4ef7-9ffb-5b44598bb6df.pdf

About Peel Mining Limited:

Highlights for March Quarter 2019

Plans for June quarter 2019

Exploration

Southern Nights Central Zone

Significant results for the quarter include:

Wagga Tank

Next steps

– Wagga Tank Southern Nights

Cobar Superbasin Project: Copper, Silver, Gold, Lead, Zinc; Western NSW (PEX 100%).

Wirlong

Bedooba

Mallee Bull Project: Copper, Silver, Gold, Lead, Zinc; Western NSW (PEX 50% and Manager, CBH 50%).

Mallee Bull Development Study

Other Projects

Corporate

Competent Persons Statements

Wirlong Drill Collars

Wirlong Diamond Lab Assay Results received during the quarter

Bedooba Percussion Lab Assay Results received during the quarter

TENEMENT INFORMATION AS REQUIRED BY LISTING RULE 5.3.3

NSW Granted Tenements

AI assistant

PEEL MINING LIMITED — Interim / Quarterly Report 2019

65545_rns_2019-04-29_00c800e0-2697-4ef7-9ffb-5b44598bb6df.pdf

About Peel Mining Limited:

Highlights for March Quarter 2019

Plans for June quarter 2019

Exploration

Southern Nights Central Zone

Significant results for the quarter include:

Wagga Tank

Next steps

– Wagga Tank Southern Nights

Cobar Superbasin Project: Copper, Silver, Gold, Lead, Zinc; Western NSW (PEX 100%).

Wirlong

Bedooba

Mallee Bull Project: Copper, Silver, Gold, Lead, Zinc; Western NSW (PEX 50% and Manager, CBH 50%).

Mallee Bull Development Study

Other Projects

Corporate

Competent Persons Statements

Wirlong Drill Collars

Wirlong Diamond Lab Assay Results received during the quarter

Bedooba Percussion Lab Assay Results received during the quarter

TENEMENT INFORMATION AS REQUIRED BY LISTING RULE 5.3.3

NSW Granted Tenements

More from PEEL MINING LIMITED

PEEL MINING LIMITED Interim / Quarterly Report 2019