PREDICTIVE DISCOVERY LIMITED — Capital/Financing Update 2020

Dec 16, 2020

17 DECEMBER 2020

DIAMOND DRILLING UNDERWAY AT BANKAN GOLD PROJECT

Predictive Discovery Limited ( Predictive or the Company ) ( ASX:PDI ) is pleased to advise that its next phase of Diamond and RC drilling has commenced at the Bankan Gold Project in Guinea, focused on two key prospects discovered in early 2020, with initial drilling designed to:

• test the down-dip extent of the thick zones of gold mineralisation already demonstrated on the western side of NE Bankan which has a strike length of 1.6km, and remains open; and

• test the strike and depth extent of the discovery made at Bankan Creek, where hole KKODD020 returned 91.6m @ 1.9 g/t Au .

Predictive now has 3 rigs on site (1 diamond and 2 Power Auger), plus a second diamond rig expected at site imminently, which will see a total of 4 rigs drilling for several months, with the first batch of drilling results expected in January.

With $14 million cash as we near a close to CY 2020, the Company is very well funded to carry out an aggressive drill campaign at its Bankan Gold Project in 2021, with the key objective to deliver a maiden JORC Resource by the middle of 2021.

KEY POINTS

• 25,000m Bankan-2 drilling program consisting of Diamond Drill (DD), Reverse Circulation (RC), and Power Auger drilling now fully underway with three drill rigs now on site, with a fourth due on site and beginning work imminently - first assay results from RC and DD drilling expected in January.

• Ongoing releases of drill results from the Bankan-2 program and subsequent resource drill-out will continue thereafter, culminating in a maiden JORC Resource Estimate due in the middle of 2021.

• RC/DD drilling is focused on the 1.6km-long NE Bankan Discovery, initially testing the down-dip extent of the thick zones of gold mineralisation now known on the western side of the deposit (e.g. 55m at 2.9g/t gold[1] ), then followed by shallower RC drilling both to test the full width (up to 300m) of the oxide mineralised zone and other nearby targets revealed by power auger drilling.

• The deeper RC/DD drilling at NE Bankan will target gold mineralisation in fresh rock to vertical depths of up to 250m, following up earlier drilling which showed gold grades extending to depth.

• In order to fast-track diamond drilling, an additional DD rig was mobilised to site and is currently drilling at Bankan Creek, 3km west of NE Bankan, testing along strike of and beneath hole KKODD020 ( 91.6m averaging 1.9g/t gold[2] ) (pictured in Figure 1).

1 ASX Announcement –55M AT 2.94G/T GOLD – BROAD TRUE WIDTHS CONFIRMED AT BANKAN, GUINEA (10th Sept 2020) https://www.investi.com.au/api/announcements/pdi/94452194-ceb.pdf

2 ASX Announcement - 92M AT 1.9g/t GOLD - DIAMOND DRILLING EXPANDS BANKAN PROJECT (13[th] Oct 2020) https://www.investi.com.au/api/announcements/pdi/d858335b-e93.pdf

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Figure 1 – Bankan Creek Prospect - DD rig testing along strike and beneath hole KKODD020

• Power auger drilling, which has been underway since late October, is well advanced with 408 holes (5,920 meters) drilled between NE Bankan and Bankan Creek and west of Bankan Creek. A further 10,000m will be drilled in the next 2 months, as the Company continues to undertake its strategy aimed at substantially growing the auger-defined gold footprint across the Bankan Project.

• An aeromagnetic survey designed to identify structural drill targets across the Bankan Project is planned to commence early in 2021.

• The maiden Mineral Resource Estimate is due mid-2021 with a metallurgical study to commence in the March Quarter of 2021.

• This major drill program is being led by PDI Principal Geologist Aime Nganare (Figure 2), who has been running the Company’s West African exploration programs since 2017.

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Figure 2 – Predictive Principal Geologist Aime Nganare (Front right), directing drilling programs.

This announcement is authorised for release by Predictive Managing Director, Paul Roberts.

For further information please contact:

Paul Roberts Managing Director Tel: +61 402 857 249 Email: paul.roberts@predictivediscovery.com

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ABOUT PREDICTIVE

Over the past 2 years, Predictive has built a commanding land position in Guinea’s Siguiri Basin (Figure 3), acquiring 861km[2] across ten permits with all ground identified utilising the Company’s Predictore[TM] methodology.

In July 2019, Predictive was granted the Kaninko Permit (now known as the Bankan Project) near the town of Kouroussa in the Siguiri Basin. This tenement, located approximately 10km from Cassidy’s Kouroussa gold deposit, laid the platform for the Company’s growth with exploration activity and drilling delivering highgold grades and broad gold mineralised widths at the NE Bankan and Bankan Creek gold discoveries.

”Gold is becoming an important commodity in Guinea as international exploration funding to the country is increasing significantly” – KPMG, Guinea Country Mining Guide

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Figure 3 – Predictive Discovery 100%-owned Guinea Portfolio of gold projects

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