PILBARA GOLD LIMITED — Capital/Financing Update 2021

Jul 12, 2021

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ASX ANNOUNCEMENT

13 July 2021

Wide shallow gold zones at Roe Hills highlight potential to delineate oxide resources in active mining region

Encouraging drilling results from Caliburn prospect highlight the opportunity to delineate shallow open pit resources close to Silver Lake Resources’ operations

Highlights

• All assay results received from the composite samples from the recently completed 20hole/2,992m Reverse Circulation (RC) drilling program targeting high-priority gold and nickel prospects at the 100%-owned Roe Hills Project in WA.

• Significant wide zones of shallow mineralisation intersected at the Caliburn prospect, highlighting the opportunity to delineate oxide resources. Best intercepts include:

  • 8m @ 1.32g/t Au from 32m in RHRC105, including:

  • ➢ 4m @ 2.29g/t Au from 36m

  • 16m @ 1.27g/t Au from 80m in RHRC106, including:

  • ➢ 4m @ 3.17g/t Au from 84m

  • 16m @ 1.36g/t Au from 80m in RHRC109, including:

  • ➢ 4m @ 3.90g/t Au from 92m

• Follow-up drilling planned to in-fill these results and potentially define oxide resources, given the strategic location of this project close to Silver Lake Resources’ gold operations and an existing haul road. 3D modelling of drilling at Caliburn, Terra, Lingering Kiss and Lady of the Lake underway to underpin a maiden gold Mineral Resource Estimate (MRE).

• Broad zone of sulphides with anomalous zinc intersected at the Black Cat prospect. Combined with a soil anomaly located 900m from the drilling area, this supports the potential for a VMS base metal system. Best intercepts at Black Cat included:

  • ➢ 4m @ 1.63g/t Au from 48m in RHRC120

  • ➢ 20m @ 0.42% Zn from 96m in RHRC120

• At the Talc Lake nickel prospect, drilling intersected narrow zones of nickel and copper sulphides with associated cobalt, with best intercepts including:

• 5m @ 0.55% Ni and 0.15% Cu from 96m in RHRC115

• ➢ including 1m @ 1.33% Ni and 0.45% Cu from 99m

• 8m @ 0.14% Co from 24m in RHRC118

• ➢ Including 4m @ 0.22% Co from 24m

• Airborne magnetic and radiometric survey commenced at the Woodcutters Project, approximately 30km east of Roe Hills.

T +61 (0)8 9226 1141 Level 1, 43 Ventnor Avenue, West Perth WA 6005 kairosminerals.com.au ABN 84 006 189 331 ASX: KAI

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Figure 1: Roe Hills Project prospect locations.

Kairos’ Executive Chairman, Terry Topping, said: “We recently completed ~3,000m of RC drilling at Roe Hills and we’re pleased to report encouraging initial results from composite samples. The key area of focus is the Caliburn prospect, where we intersected wide zones of shallow gold mineralisation. These results have clearly demonstrated the potential to delineate potentially open pittable gold mineralisation at Caliburn.

“Given the proximity of Caliburn just 5km south of Silver Lake Resources’ French Kiss operations, adjacent to a haul road and in the heart of an active mining region, we can make a compelling strategic case to return to this area with further drilling in the near future.

“In the meantime, three-dimensional modelling work has commenced on existing drill data from the Caliburn, Lingering Kiss, Terra and Lady of the Lake prospects to underpin a maiden gold Mineral Resource Estimate. This will give us a good idea of the commercial potential of this project.

T +61 (0)8 9226 1141 Level 1, 43 Ventnor Avenue, West Perth WA 6005 kairosminerals.com.au ABN 84 006 189 331 ASX: KAI

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“In other areas, the broad sulphide zones intersected at Black Cat have returned interesting gold and zinc results, highlighting a potential VMS signature which requires further evaluation – particularly in light of a nearby soil anomaly. At Talc Lake, we intersected some narrow zones of nickel and copper sulphides with associated cobalt. We will evaluate next steps here after we receive the final 1m assay results.”

“In the meantime, our drilling program at the 873koz Mt York Gold Project in the Pilbara is making great progress with over 10,000m already completed. We look forward to providing updates on our work here and at the Kangan Project in the near future.”

Kairos Minerals Ltd (ASX: KAI; “Kairos” or “the Company”) is pleased to advise that all assay results from the composite samples have now been received from its recently completed Reverse Circulation (RC) drilling program at the 100%-owned Roe Hills Project , located east of Kalgoorlie in WA.

The drill program comprised 20 holes for a total of 2,992m testing high-priority gold and nickel targets at the Caliburn, Talc Lake and Black Cat prospects.

Caliburn Prospect

The Caliburn Prospect is located towards the southern end of the Roe Hills Project tenure, just north of Talc Lake and about 5km south-southeast of Silver Lake’s French Kiss gold deposit (Figure 1).

Kairos completed 10 holes for 1,149m at the Caliburn prospect. Drilling was carried out along four sections spaced 40m apart with drill holes on three of the sections returning mineralised intercepts (Figure 2).

Significant assay results include:

RHRC105

• 8m @ 1.32g/t Au from 32m, including:

• ➢ 4m @ 2.29g/t Au from 36m, and

• 8m @ 1.29g/t Au from 56m, including: ➢ 5m @ 1.85g/t Au from 58m

RHRC106

• 15m @ 0.81g/t Au from 44m, including:

• ➢ 4m @ 2.07g/t Au from 52m, and

• 16m @ 1.27g/t Au from 80m, including:

• ➢ 4m @ 3.17g/t Au from 84m

RHRC109

• 16m @ 1.36g/t Au from 80m, including: ➢ 4m @ 3.90g/t Au from 92m

Results from this drilling program indicate a possible offset of the mineralisation strike with the high-grade shoots remaining open at depth and to the south-west. A plan view of the previous and current drill holes, including the gold intercepts represented by coloured discs is provided in Figure 2.

A cross-section with the best assay results of this drilling program is shown in Figure 3.

Table 1 shows all the drilling results for Caliburn and Black Cat prospects.

T +61 (0)8 9226 1141 Level 1, 43 Ventnor Avenue, West Perth WA 6005 kairosminerals.com.au ABN 84 006 189 331 ASX: KAI

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Figure 2: Plan view of the drill holes with gold intercepts at Caliburn prospect .

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Figure 3: Schematic cross-section at Caliburn prospect.

T +61 (0)8 9226 1141 Level 1, 43 Ventnor Avenue, West Perth WA 6005 kairosminerals.com.au ABN 84 006 189 331 ASX: KAI

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Black Cat Prospect

The Black Cat prospect lies at the northern end of Kairos’ 100%-owned Roe Hills Gold Project. The prospect is located in a structurally and geologically complex area, adjacent to the regionally significant Keith-Kilkenny Shear zone, host to Breaker Resources Ltd (ASX: BRB) Bombora Gold Project (23.21Mt at 1.3 g/t Au for 981koz) and Silver Lake Resources (ASX: SLR) Aldiss Project (8.715Mt at 2.1 g/t Au for 579koz).

During the 2020 field season, Kairos completed a soil geochemistry sampling program, and a strong and consistent gold anomaly was delineated over a strike length of 1,800m within Kairos’ tenure.

The Company completed six holes for 901m to test the gold-in-soil anomaly at the Black Cat Prospect. Hole RHRC120 returned the best gold intercept of 4m @ 1.63g/t Au from 48m (4m composite sample). The same drill hole returned a significant zinc anomaly, 20m @ 0.42% Zn from 96m from 4-metre composite samples. See table 1 for a complete list of results.

Kairos re-assessed the previous soil geochemistry results and delineated another soil anomaly 900m northwest of the drilling area with elevated copper, zinc, tungsten, molybdenum, thallium and bismuth. The Company is planning to conduct ground geophysics to study the potential for a VMS base metal system.

A plan view of the drill holes and the contours for the soil anomalies is shown in Figure 5. A cross-section of hole RHRC120 is provided in Figure 6.

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Figure 4: Plan view of the drilled holes and soil geochemical anomalies at Black Cat prospect.

T +61 (0)8 9226 1141 Level 1, 43 Ventnor Avenue, West Perth WA 6005 kairosminerals.com.au ABN 84 006 189 331 ASX: KAI

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Figure 5: Schematic cross-section at Black Cat prospect.

Table 1: List of drilled holes and significant intercepts for Caliburn and Black Cat prospects.

Prospect	Hole ID	Type	**GDA_East **	**GDA_North **	mRL	Dip	Az	Depth (m)	From (m)	Length (m)	Au (g/t)	From (m)	Length (m)	Zn (%)
Caliburn	RHRC105	RC	461334	6538041	314	-60	94	123	32	8*	1.32
Including									36	4*	2.29
and									56	8	1.29
Including									58	5	1.85
Caliburn	RHRC106	RC	461395	6538035	314	-60	282	123	44	15*	0.81
including									52	4*	2.07
and									80	16*	1.27
Including									84	4*	3.17
Caliburn	RHRC107	RC	461393	6538031	315	-60	90	105	16	4*	0.47
Caliburn	RHRC108	RC	461390	6538000	315	-60	95	105			NSA
Caliburn	RHRC109	RC	461314	6538005	314	-60	89	120	80	16*	1.36
including									92	4*	3.90
Caliburn	RHRC110	RC	461356	6538081	314	-60	94	105	44	4*	0.87
Caliburn	RHRC111	RC	461315	6538084	315	-60	87	165	108	4*	0.57
Caliburn	RHRC112	RC	461391	6538077	315	-60	93	105			NSA
Caliburn	RHRC113	RC	461429	6537958	314	-60	93	99			NSA
Caliburn	RHRC114	RC	461406	6537958	312	-60	93	99			NSA
Black Cat	RHRC119	RC	458933	6572598	363	-60	90	153			NSA
Black Cat	RHRC120	RC	458857	6572599	367	-60	90	171	48	4*	1.63	96	20*	0.42%
Black Cat	RHRC121	RC	458781	6572601	367	-60	90	147			NSA
Black Cat	RHRC122	RC	458702	6572603	365	-60	90	147			NSA
Black Cat	RNRC123	RC	458540	6572997	372	-60	90	135			NSA
Black Cat	RHRC124	RC	458456	6573000	370	-60	90	147			NSA

Note: Significant intercepts reported with 0.3g/t cut-off for Au and 0.4% cut off for Zn (maximum 4m internal dilution). *composite samples; NSA: No significant assays.

T +61 (0)8 9226 1141 Level 1, 43 Ventnor Avenue, West Perth WA 6005 kairosminerals.com.au ABN 84 006 189 331 ASX: KAI

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Talc Lake Prospect

The Talc Lake Prospect is located toward the southern end of the Project tenure, adjacent to the west of the Keith-Kilkenny Lineament – Aldiss Fault Corridor, within an area of considerable structural complexity. A major NE-SW trending sinistral fault offsets the regional stratigraphy, while numerous subordinate N – NNW trending fault splays disrupt the prospective basement sequences at the local scale.

Kairos completed four holes for 942m at the Talc Lake Prospect. Hole RHRC115 returned the best nickel and copper sulphide intercept of 5m @ 0.55% Ni and 0.15% Cu from 96m including 1m @ 1.33% Ni and 0.45% Cu from 99m.

Results from this hole confirmed the extension of nickel mineralisation targeted at the up-plunge position of historical nickel intercepts, extending now over 80m and remaining open down-deep and toward the surface.

Multiple thin stacked komatiite flows were logged in hole RHRC115, including at the bottom of the hole. A down-hole electromagnetic survey was conducted with minor local anomalism detected in mid-channel centred at 95 to 105m downhole. No apparent off-hole anomalism was detected for modelling, leaving the down-deep zone as a further drill target to test the basal unit of the komatiite flows. The Company is assessing further drilling options to test the target, including diamond drilling.

Table 2: List of drilled holes and significant intercepts for Talc Lake Prospect.

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----- Start of picture text -----

Depth From Length
Prospect Hole ID Type GDA_East GDA_North mRL Dip Az Ni (%) Cu (%) Co (%)
(m) (m) (m)
Talc Lake RHRC115 RC 461708 6537582 303 -60 90 261 96 5 0.55 0.15 NSA
including 99 1 1.33 0.45
Talc Lake RHRC116 RC 462531 6538366 287 -60 52 195 NSA NSA NSA
Talc Lake RHRC117 RC 462449 6538300 287 -60 52 238 NSA NSA NSA
Talc Lake RHRC118 RC 462393 6538242 293 -60 52 249 24 8 0.32 NSA 0.14
including 24 4 0.41 0.22
----- End of picture text -----

Note: Significant intercepts reported with 0.3% cut-off for Ni, 0.08% cut-off for Cu and 0.06% cut off for Co (maximum 1m internal dilution).

*composite samples; NSA: No significant assays.

The current drilling program was not able to test the interpreted eastern ultramafic unit due to depth constraints. However, a shallow zone enriched in cobalt and nickel was intersected in hole RHRC118.

Kairos is planning to collect the single-meter samples from the gold, zinc, nickel and cobalt intercepts in the three prospects drilled during the current program. As part of the target generation program, a field trip will be carried out once the Company receives the results from the current soil sampling program.

Maiden Gold Resource Estimation

The Company has commenced the 3D mineralisation modelling at the previously drilled Terra, Lingering Kiss, Lady of the Lake prospects, and will include the results from Caliburn prospect in the model once the assay results from the single-metre samples are returned. Kairos is aiming to calculate a maiden gold Mineral Resource with the data from the four prospects.

Ultrafine+ Soils Geochemistry Program

A total of 2,221 soil samples were collected and submitted to Labwest in Perth for Ultrafine+ analysis. Results are expected during the current quarter. The geochemical sampling program has covered the areas around

T +61 (0)8 9226 1141 Level 1, 43 Ventnor Avenue, West Perth WA 6005 kairosminerals.com.au ABN 84 006 189 331 ASX: KAI

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Caliburn, Lingering Kiss, Lady of the Lake prospects, including parts of the prospective corridor between Terra and Caliburn prospects. The program will assist the Company with further targets generation.

Airborne Geophysics – Woodcutters Project

Kairos’s contractor, Magspec Airborne Surveys, has commenced a magnetic and radiometric survey at the Woodcutters Project, located approximately 30km east of the Roe Hills Project (see Figure 6 for project location).

Past exploration conducted by Kairos at this project involved a small soil geochemical sampling program of 86 samples. The airborne survey is planned with 653 lines to be flown for 9,028km to cover the whole project area.

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Figure 6. Kairos Project Locations.

Next Steps

• Interpretation of the results from the Roe Hills RC drilling and further planning.

• 3D mineralisation modelling for Roe Hills gold Mineral Resource calculation.

• Mt York RC drilling.

• Mining studies for the Mt York Project.

• Results from the geochemistry sampling program at the Roe Hills and Mt York projects.

• Ongoing soil sampling program at the Wodgina Project.

• Ongoing air-core drilling at the Kangan Project.

• Geochemistry sampling program and mapping at the Skywell Project.

• Heritage survey and air-core drilling at the Skywell Project.

T +61 (0)8 9226 1141 Level 1, 43 Ventnor Avenue, West Perth WA 6005 kairosminerals.com.au ABN 84 006 189 331 ASX: KAI

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About Kairos Minerals

Kairos Minerals (ASX: KAI) is a diversified West Australian-based exploration company which is focused on the exploration and development of two key project hubs located in WA’s premier mining districts.

The Company’s 100%-owned Pilbara Gold-Project has its central “hub” located ~100km south of Port Hedland in the world-class Pilgangoora district immediately adjacent to the major lithium-tantalum projects owned by Pilbara Minerals, which is currently in production.

Since acquiring the Project in early 2016, Kairos has established a JORC Indicated 8.56Mt at 1.3 g/t for 366,000oz and Inferred 12.36Mt at 1.28 g/t for 507,000oz for a Total Mineral Resource of 20.93Mt @ 1.3g/t Au for 873,500oz (ASX announcement, 4 March 2020). The Project encompasses the historical Lynas Find gold project, which produced over 125,000oz of gold between 1994 and 1998.

Kairos’s 100%-owned Roe Hills Project, located 120km east of Kalgoorlie in WA’s Eastern Goldfields, comprises an extensive tenement portfolio where the Company’s recent exploration work has confirmed the potential for significant discoveries of high-grade gold, nickel and cobalt mineralisation. Kairos’ tenure adjoins the emerging Lake Roe gold discovery, owned by Breaker Resources (ASX: BRB).

In the Pilbara, Kairos also holds 1,547 square kilometres of tenure (granted and applications) which is highly prospective for gold discoveries.

Kairos has been well recognised for its industry leading technical team that includes its Chairman Terry Topping (Taipan Resources NL, Cauldron Energy Ltd), Technical Director Neil Hutchison (Poseidon Nickel, Jubilee Mines) and consulting specialists.

With the authority of the Board.

For further information, please contact:

Investors:

Media:

Mr Terry Topping Nicholas Read/Paul Armstrong Executive Chairman Read Corporate Kairos Minerals Limited Ph: 08 9388 1474

COMPETENT PERSON STATEMENT:

Competent Person: The information in this report that relates to Exploration Results or Mineral Resources is based on information compiled and reviewed by Mr Terry Topping, who is a Director of Kairos Minerals Ltd and who is also a Member of AusIMM. Mr Topping has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity which they are undertaking to qualify as Competent Persons as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.’ (the JORC Code 2012). Mr Topping has consented to the inclusion in the report of the matters based on their information in the form and context in which it appears.

The Australian Securities Exchange has not reviewed and does not accept responsibility for the accuracy or adequacy of this release.

T +61 (0)8 9226 1141 Level 1, 43 Ventnor Avenue, West Perth WA 6005 kairosminerals.com.au ABN 84 006 189 331 ASX: KAI

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Appendix 1 – Kairos Minerals – Roe Hills Project JORC Code, 2012 Edition – Table 1

Section 1 Sampling Techniques and Data

Criteria		JORC Code explanation		Commentary
Sampling	•	Nature and quality of sampling (e.g., cut channels,	•	Samples from the RC drilling were split on a 1 metre
techniques		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.	•	sample interval at the rig cyclone. Samples from this initial drilling program were collected on two and four meters composites, with individual single meters samples sampled from intervals where the rig geologist observed
	•	Include reference to measures taken to ensure		mineralisation.
		sample representivity and the appropriate	•	Additional individual single meters samples will be
	•	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 (e.g., ‘reverse circulation	•	sampled where significant results returned from the two and four meters composites. All samples were delivered by Kairos personnel to Intertek Minerals Laboratory in Kalgoorlie WA for final analysis in Perth, WA.
		drilling was used to obtain 1 m samples from	•	All samples will be submitted for Four Acid Multi-
		which 3 kg was pulverised to produce a 30 g		Element Analysis (4A/OE33), Fire Assay for Gold
		charge for fire assay’). In other cases, more		(FA/ICP-OES).
		explanation may be required, such as where there
		is coarse gold that has inherent sampling
		problems. Unusual commodities or mineralisation
		types (e.g., submarine nodules) may warrant
		disclosure of detailed information.
Drilling techniques	•	Drill type (e.g., core, reverse circulation, open-	•	RC drilling was carried out by Ausdrill Pty Ltd using
		hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g., core diameter, triple or standard tube, depth of diamond tails, face- sampling bit, or other type, whether core is oriented and if so, by what method, etc).	•	an ED1514 rig and a booster compressor. 4-1/2” diameter drill rods and 5-5/8” diameter face sampling hammer. All the holes were surveyed by the Drilling Supervisor/Senior Driller at regular intervals
				downhole, approximately 30 meters, using a
				Gyroscope survey instrument.
Drill sample	•	Method of recording and assessing core and chip	•	RC samples were logged in detail at the drill site by
recovery		sample recoveries and results assessed.		supervising geologists and recorded in the
	• •	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	• •	Company’s database. Overall recoveries were excellent and there were no significant sample recovery problems. Sample depths are continually checked against the
		fine/coarse material.		rod string depth during the drilling process by the
				Senior Driller.
Logging	•	Whether core and chip samples have been	•	Detailed geological logging of the entirety of each
	•	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)	•	hole by Kairos geologists is carried out on the RC chips and recorded as a qualitative description of colour, lithological type, grain size, structures, minerals, alteration, and various other features. Representative material was sieved and collected as
		photography.		1m individual samples in number-coded plastic chip
	•	The total length and percentage of the relevant		trays and stored at the Company’s site storage facility
		intersections logged.		in Perth.
			•	Photography of chips is not routinely done.
			•	Detailed petrological studies are planned for selected
				samples to assist in ongoing evaluation.
Sub-sampling	•	If core, whether cut or sawn and whether quarter,	•	Most RC samples were dry. Minor water ingress
techniques and		half or all cores taken.		occurred during rod/bit changes however samples
sample preparation	•	If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.		were generally dry once active drilling recommenced.
	•	For all sample types, the nature, quality, and
		appropriateness of the samplepreparation

T +61 (0)8 9226 1141 Level 1, 43 Ventnor Avenue, West Perth WA 6005 kairosminerals.com.au ABN 84 006 189 331 ASX: KAI

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	Criteria		JORC Code explanation		Commentary
			technique.	•	Samples were collected as 1m intervals via on-board
		• •	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	•	cone splitters then laid out on the ground in the case of RC work collected in large, numbered calico bags. Sample quality was ensured by monitoring sample volume and by regularly cleaning the rig cyclone & sample splitters.
			duplicate/second-half sampling.	•	Sampling sheets were prepared and checked by
		•	Whether sample sizes are appropriate to the grain		Kairos’ site geologists and field technicians to ensure
			size of the material being sampled.		correct sample representation.
				•	QAQC samples were included at the rates 1:50 as
					certified reference material (standard). Duplicate
					samples were collected, and blanks were also
					included.
				•	The duplicate samples are analysed, and the results
					compared with the original sample to provide an
					assessment of the samplingrepresentativity.
Quality of assay		•	The nature, quality and appropriateness of the	•	Kairos RC drilling samples were submitted to
data and laboratory tests		•	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		Intertek Genalysis in Perth for Four Acid Multi- Element Analysis ICP-OES (4A/OE33). Gold analysis will be carried out via the FA 25/OE or MS technique being Fire Assay with 25g lead collection fire assay in new pots, analysed by Inductively Coupled Plasma Mass Spectrometry.
			factors applied and their derivation, etc.	•	Fire Assay is industry standard for gold and
		•	Nature of quality control procedures adopted (e.g.,		considered appropriate.
			standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e., lack of bias) and precision have been established.	• •	Certified Reference Material (CRM or standards) were inserted every 50th sample to assess the assaying accuracy of the external laboratories. No laboratoryaudits were undertaken.
Verification of		•	The verification of significant intersections by	•	Primary data was collected using Excel templates
sampling and assaying		• •	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.	• •	utilising lookup codes on laptop computers by Senior Supervising Geologists. No twin holes were drilled. All data is received and stored securely in digital format in the Company’s database.
		•	Discuss any adjustment to assay data.	•	Final data is rigorously interpreted by Kairos’
					geoscientific personnel.
				•	All RC holes were surveyed down hole with north
					seeking gyroscopic survey instruments by the
					Supervising/Senior driller
Location of data		•	Accuracy and quality of surveys used to locate	•	Kairos collars surveyed by handheld GPS with an
points			drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.	•	accuracy of +/- 5m. All holes are in MGA94 Zone 51 (GDA94).
		•	Specification of the grid system used.
		•	Quality and adequacy of topographic control.
Data spacing and		•	Data spacing for reporting of Exploration Results.	•	Minimal sample spacing for assay samples is 1m and
distribution		•	Whether the data spacing, and distribution is		maximum composite sample spacing is 4m.
			sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.	•	Hole spacing of Kairos’ drilling varies between 40m- 100m along section lines spaced between 40m and 200m apart.
		•	Whether sample compositing has been applied.
Orientation of data		•	Whether the orientation of sampling achieves	•	Most RC holes were drilled at -60 deg to provide true
in relation to geological structure		•	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	•	width intersections of the targeted horizon. Holes are designed to intersect the geological contacts/targets as close to perpendicular as possible in order to provide approximate true width intercepts.
			considered to have introduced a sampling bias,
			this should be assessed and reported if material.
Sample security		•	The measures taken to ensure sample security.	•	The sample chain of custody is managed by Kairos.
				•	All samples were collected in the field at the project
					site in number coded calico bags/secure labelledpoly

T +61 (0)8 9226 1141 Level 1, 43 Ventnor Avenue, West Perth WA 6005 kairosminerals.com.au ABN 84 006 189 331 ASX: KAI

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Criteria		JORC Code explanation		Commentary
				weave sacks by Kairos’ geological and field
				personnel.
			•	All samples were delivered directly to Intertek
				company in Kalgoorlie by Kairos personnel prior to
				being transported to Intertek Laboratory in Perth WA
				for final analysis.
Audits or reviews	•	The results of any audits or reviews of sampling	•	No audits have been completed.
		techniques and data.

Section 2 Reporting of Exploration Results

Criteria		JORC Code explanation		Commentary
Mineral	•	Type, reference name/number, location	•	Kairos Minerals owns 100% of the Tenements that define the Roe
tenement and land tenure status		and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical	•	Hills Project. The project consists of 09 EL`s, E28/2585, E28/2548, E28/1935, E28/2118, E28/2584, E28/2593, E28/2117, E28/2695, E28/2696, and E28/2697.
		sites, wilderness or national park and	•	Kairos is not aware of any existing impediments nor of any
		environmental settings.		potential impediments which may impact ongoing exploration and
	•	The security of thetenure held at the time		development activities at the project site.
		of reporting along with any known
		impediments to obtaining a licence to
		operate in the area.
Exploration done by	•	Acknowledgment and appraisal of	•	Significant historical gold exploration including surface
other parties		exploration by other parties.		geochemical sampling, airborne and ground electromagnetic
				surveys, RAB, AC, RC, and DD drilling. This is acknowledged in
				previous ASX announcements.
Geology	•	Deposit type, geological setting, and style	•	The Roe Hills Project lies within the Kurnalpi Terrane of the
		of mineralisation.		Eastern Goldfields, Eastern Yilgarn Craton (EYC). In gold,
				nickel, and cobalt prospective areas.
			•	Gold mineralisation is associated to the Aldiss Fault system.
			•	Massive nickel sulphide mineralisation is related with Kambalda-
				style – Komatiite/Ultramafic host rocks.
Drill hole Information	•	A summary of all information material to	•	The coordinates and other attributes of all drill holes relevant to
		the understanding of the exploration results including a tabulation of the following information for all Material drill		the work being described are included in table 1 (Caliburn and Black Cat prospects) and table 2 (Talc Lake prospect) within the body of the release.
		holes:
		• easting and northing of the drill
		hole collar.
		• elevation or RL (Reduced Level -
		elevation above sea level in
		metres) of the drill hole collar
		• dip and azimuth of the hole
		• down hole length and
		interception depth
		• hole length.
	•	If the exclusion of this information is
		justified on the basis that the information
		is not Material and this exclusion does
		not detract from the understanding of the
		report, the Competent Person should
		clearly explain why this is the case.

T +61 (0)8 9226 1141 Level 1, 43 Ventnor Avenue, West Perth WA 6005 kairosminerals.com.au ABN 84 006 189 331 ASX: KAI

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		Criteria		JORC Code explanation			Commentary
Data aggregation methods			•	In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g., cutting of	•		The results from Caliburn and Black Cat prospects were reported with 0.3g/t cut-off for Au and 0.4% cut off for Zn. With a maximum internal dilution of 4m.
			•	high grades) and cut-off grades are usually Material and should be stated. Where aggregate intercepts incorporate short lengths of high-grade results and	•		The results from Talc Lake prospect were reported with 0.3% cut-off for Ni, 0.08% cut-off for Cu and 0.06% cut off for Co. With a maximum internal dilution of 1m.
				longer lengths of low-grade results, the
				procedure used for such aggregation
				should be stated and some typical examples
				of such aggregations should be shown in
				detail.
			•	The assumptions used for any reporting of
				metal equivalent values should be clearly
				stated.
Relationship between mineralisation widths			•	These relationships are particularly important in the reporting of Exploration Results.	• •	All intercepts reported are measured in down hole metres. All holes are oriented to provide intersections which are
and intercept lengths			•	If the geometry of the mineralisation with			orthogonal to the respective targeted horizon.
				respect to the drill hole angle is known, its
				nature should be reported.
			•	If it is not known and only the down hole
				lengths are reported, there should be a
				clear statement to this effect (e.g., ‘down
				hole length, true width not known’).
Diagrams			•	Appropriate maps and sections (with scales) and tabulations of intercepts should	•	Relevant diagrams have been reported in this document.
				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.
Balanced reporting			•	Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and	• •	All relevant results have been reported. In table 1 significant results of Caliburn and Black Cat
				high grades and/or widths should be			prospects.
				practiced avoiding misleading reporting of Exploration Results.	•	In table 2 significant intercepts of Talc Lake prospect.
Other substantive			•	Other exploration data, if meaningful and material, should be reported including	•	All relevant and meaningful data has been reported.
	Criteria			JORC Code explanation			Commentary
Exploration data •				(but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and	•		Qualitative analysis relies on in situ geological observations and correlation with regional previous results.
				method of treatment; metallurgical test
				results; bulk density, groundwater,
				geotechnical and rock characteristics;
				potential deleterious or contaminating
				substances.
Further		•		The nature and scale of planned further work		•	Interpretation of the results from the Roe Hills RC drilling.
work		•		(e.g., tests for lateral extensions or depth extensions or large-scale step-out drilling). Diagrams clearly highlighting the areas of possible extensions, including the main		• •	Further drilling and soil geochemistry program planning. 3D mineralisation modelling for Roe Hills gold resources calculation.
				geological interpretations and future drilling
				areas, provided this information is not
				commercially sensitive.

T +61 (0)8 9226 1141 Level 1, 43 Ventnor Avenue, West Perth WA 6005 kairosminerals.com.au ABN 84 006 189 331 ASX: KAI

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Appendix 2 – Drillhole Locations

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Hole_ID Prospect East North Grid Dip Azi EOH (m)
RHRC105 Caliburn 461334 6538041 MGA94_51 -60 94 123
RHRC106 Caliburn 461395 6538035 MGA94_51 -60 282 123
RHRC107 Caliburn 461393 6538031 MGA94_51 -60 90 105
RHRC108 Caliburn 461390 6538000 MGA94_51 -60 95 105
RHRC109 Caliburn 461314 6538005 MGA94_51 -60 89 120
RHRC110 Caliburn 461356 6538081 MGA94_51 -60 94 105
RHRC111 Caliburn 461315 6538084 MGA94_51 -60 87 165
RHRC112 Caliburn 461391 6538077 MGA94_51 -60 93 105
RHRC113 Caliburn 461429 6537958 MGA94_51 -60 93 99
RHRC114 Caliburn 461406 6537958 MGA94_51 -60 93 99
RHRC115 Talc Lake 461708 6537582 MGA94_51 -60 90 261
RHRC116 Talc Lake 462531 6538366 MGA94_51 -60 52 195
RHRC117 Talc Lake 462449 6538300 MGA94_51 -60 52 238
RHRC118 Talc Lake 462393 6538242 MGA94_51 -60 52 249
RHRC119 Black Cat 458933 6572598 MGA94_51 -60 90 153
RHRC120 Black Cat 458857 6572599 MGA94_51 -60 90 171
RHRC121 Black Cat 458781 6572601 MGA94_51 -60 90 147
RHRC122 Black Cat 458702 6572603 MGA94_51 -60 90 147
RNRC123 Black Cat 458540 6572997 MGA94_51 -60 90 135
RHRC124 Black Cat 458460 6573000 MGA94_51 -60 90 147
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T +61 (0)8 9226 1141 Level 1, 43 Ventnor Avenue, West Perth WA 6005 kairosminerals.com.au ABN 84 006 189 331 ASX: KAI