PREDICTIVE DISCOVERY LIMITED — Capital/Financing Update 2021

Jun 16, 2021

ASX: PDI | 17 June 2021

BROAD GOLD INTERCEPTS FROM BANKAN CREEK AND NE BANKAN

Predictive Discovery Limited (ASX: PDI, Predictive or the Company) is pleased to announce results from eight Reverse Circulation (RC) holes and one Diamond Drill (DD) hole (totalling 1,182m), from its Bankan Project, located in Guinea.

BANKAN CREEK

Shallow RC drilling adding potential higher grade near surface resource ounces to an emerging, significant satellite deposit, including:

• BCKRC0008: 36m @ 3.1g/t Au from 14m (to EOH), incl. 2m @ 17.5g/t Au from 41m

• BCKRC0011: 45m @ 2.0g/t Au from 11m

• BCKRC0015: 15m @ 1.2g/t Au from 10m, and

• 17m @ 1.3g/t from 49m

NE BANKAN

Step-out diamond drilling continues to increase the central gold mineralised zone at depth, with further very broad, good grade gold intercepted in the deepest hole so far. Results include:

• BNERD0074: 44m @ 2.0g/t Au from 310m,

9m @ 1.3g/t Au from 357m, and

6m @ 2.5g/t Au from 448m, incl. 2m @ 6.2g/t Au from 452m (to EOH)

“ To intersect significant broad zones of good-grade gold from infill and step-out holes at Bankan Creek is a great start to the resource drill-out on that prospect. Over at NE Bankan, the excellent new DD result has given us the deepest intercept so far, confirming that the mineralised system continues with good widths and grades to at least 300m below surface. Results of the remaining step out holes testing to similar depths beneath the centre of the gold deposit (white dots – Fig. 1) are now keenly awaited.

The Bankan Creek diamond drilling program is now expected to be completed in early July. Beyond this, drilling will continue right through the rainy season with at least one multipurpose rig to test for extensions to the known gold deposits and to explore the new targets being regularly identified by ongoing power auger drilling” – said Managing Director Paul Roberts.

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Figure 1: NE Bankan plan view showing results of (only) west to east drilled RC/DD holes. This plan highlights the consistency of grades and widths in the Central Gold Mineralised zone. All superimposed on a plan view of the power auger gold anomaly.

Predictive Discovery Limited (ASX: PDI, Predictive or the Company) is pleased to announce results of nine holes from the resource drill program at the Company’s Bankan Project, where two significant gold discoveries have been made within the past 14 months. The new results from both the NE Bankan and Bankan Creek prospects are shown in Figures 1-6, with significant results listed in Table 1 and drill data collection information documented in Table 2.

NE Bankan - New DD-hole BNERD0074 was completed at the southern end of the Central Gold Mineralised Zone and confirms that consistent gold mineralisation continues to depth in this area with consistent good grades including 44m at 2.0g/t Au. This hole also obtained an end of hole result of 2m @ 6.2g/t Au , highlighting potential to find more gold mineralisation to the east and below the known parallel zones of gold mineralisation - in the “footwall” position.

The drilling is targeting down-dip extensions of previously completed holes, with the resource drillout now largely completed on 80m line spacings and DD collars located up to 250m west of the outcrop position of the Central Gold Mineralised Zone.

Figure 1 illustrates the consistency and extent of the gold mineralisation in the NE Bankan drill holes, especially in the Central Gold Mineralised Zone, where most of the holes contain intercept

ASX: PDI | 17 June 2021

width x gold grade values exceeding 100g*m. Results of the remaining deep holes beneath the centre of the gold deposit are pending (Figure 1).

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Figure 2 - NE Bankan Cross section 1174940N showing new DD hole BNERD0074 (red result labels).

Bankan Creek – The Company is currently undertaking infill drilling on this prospect in preparation for the planned Maiden Resource Estimate on both the NE Bankan and Bankan Creek deposits. The resource drilling commenced with RC but, given recent very wet conditions, the Company has transitioned to diamond drilling, which is expected to continue until early July.

Drilling has been carried out on 40m spaced lines with a 40m-80m hole spacing along lines (Figure 3). Mineralisation at Bankan Creek currently extends for approximately 300m along strike and remains open to depth and to the south.

ASX: PDI | 17 June 2021

Infill drilling returned some excellent results with BCKRC0008 returning 36m @ 3.1g/t Au from 14m, incl. 2m @ 17.3g/t Au from 41m and hole BCKRC0011 returning 45m @ 2.0g/t Au from 11m. These results confirm earlier intercepts and reinforce the Company’s belief that this prospect will contribute significantly to the planned Maiden Resource Estimate.

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Figure 3 - Bankan Creek plan view showing results of (only) west to east drilled RC/DD holes. All superimposed on a plan view of the power auger/trench defined gold anomaly.

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Figure 4 - Bankan Cross section showing new RC hole (red result labels).

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Figure 5 – Longitudinal Projection showing location of new diamond drill result (red result labels).

Next Steps

All of the planned (initial) resource holes at NE Bankan have now been completed.

The Maiden Resource Estimate remains on track for completion in the September Quarter.

Auger drilling is continuing on the regional exploration targets subject to suitable drill access being available during the rainy season. At least one multipurpose RC-DD drill rig will continue operating throughout the rainy season, drilling both in the immediate vicinity of the known gold deposits and testing new targets identified from the ongoing auger program.

-END-

Predictive advises that it is not aware of any new information or data that materially affects the exploration results contained in this announcement.

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

For further information please contact:

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

COMPETENT PERSONS STATEMENT

The exploration results reported herein are based on information compiled by Mr Paul Roberts (Fellow of the Australian Institute of Geoscientists). Mr Roberts is a full-time employee of the company and has sufficient experience relevant to the style of mineralisation and type of deposits being considered to qualify as a Competent Person as defined by the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Roberts consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

ABOUT PREDICTIVE

The Company’s primary focus is the 100%-owned Bankan Project, located in Guinea’s Siguiri Basin, which hosts AngloGold’s large Siguiri Mine (+10Moz). In April 2020, the Company made a greenfields gold discovery on its Kaninko permit, now known as the Bankan Project.

Bankan comprises 4 tenements - Kaninko, Saman, Argo and Bokoro – a 358km[2 ] land package with no previous drilling undertaken. A 25,000-meter drilling program is currently underway with the aim of delivering an initial resource in the September Quarter, 2021.

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Figure 5 - Predictive Discovery’s 100%-owned Guinea Portfolio of gold projects

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TABLE 1 – NE BANKAN/BANKAN CREEK REVERSE CIRCULATION/DIAMOND DRILL RESULTS

Hole No.	Prospect	UTM 29N East	UTM 29N North	RL (GPS)	Hole azimuth	Hole dip	Hole depth	0.25g/t gold cut-off (estimated true widths)	0.25g/t gold cut-off (estimated true widths)	0.25g/t gold cut-off (estimated true widths)	Comments
								From	Interval	Au g/t
BNERD0074	Bankan NE	396365	1174940	420	90	-55	454.20	310.0	44.0 (44.0)	1.98	Incl. 25.5m @ 3.11 g/t Au from 311.5m
								357.0	9.0 (9.0)	1.28	Incl. 6m @ 1.77g/t Au from 360m
								370.0	41.0 (41.0)	0.42
								436.0	2.0 (2.0)	0.73
								448.0	6.2 (6.2)	2.47	Incl. 2.2m @ 6.24 g/t Au from 452m to EOH
BCKRC0008 Bankan Creek 393488 1174169 370 55.5 -55 50								14.0	36.0	3.07	Incl. 2m @ 17.3g/t Au from 41m Mineralised to EOH.Note: ~4% of samples are moist to wet
BCKRC0009 Bankan Creek 393451 1174147 378 60 -55 110								0.0	3.0	1.78	Note: ~42% of samples are moist to wet
								15.0	7.0	0.79
								25.0	22.0	0.58
								104.0	2.0	0.91
								31.0	17.0	1.28
BCKRC0010 Bankan Creek 393411 1174116 379 60 -55 102								58.0	9.0	1.00	Note: ~13% of samples are moist to wet
								83.0	2.0	0.43
BCKRC0011 Bankan Creek 393511 1174129 372 60 -55 70								11.0	45.0	1.99	Note: ~29% of samples are moist to wet
BCKRC0012 Bankan Creek 393390 1174069 377 60 -55 74								66.0	2.0	0.90	Note: ~89% of samples are moist to wet

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BCKRC0013 Bankan Creek 393341 1174171 376 60 -55 94			NSR	No Significant Results_Note: ~90% of samples_ are moist to wet
BCKRC0014 Bankan Creek 393383 1174194 380 60 -55 108	43.0	2.0	0.35	Note: ~67% of samples are moist to wet
	65.0	3.0	0.60
	104.0	4.0	0.65	Mineralised to EOH
BCKRC0015 Bankan Creek 393423 1174223 377 60 -55 120	10.0	15.0	1.24	Note: ~12% of samples are moist to wet
	41.0	2.0	0.63
	49.0	17.0	1.31	Incl. 6m@ 2.56 g/t Au from 58m

TABLE 2 - JORC CODE – DRILLING

Section 1: Sampling Techniques and Data

JORC Code

Criteria Explanation

Sampling Nature and quality of sampling (eg Technique cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as downhole 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. Drilling 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, facesampling bit or other type, whether core is oriented and if so, by what method, etc).

Commentary

Samples assayed were cut drill core and reverse circulation (RC) drill chips.

Core was cut in half with a core saw where competent and with a knife in soft saprolite in the upper sections of the diamond drill holes.

One metre RC chip samples were riffle split producing samples which weighed 2-3kg for submission to the assay laboratory. Duplicate samples were also retained for re-assay.

Sampling was supervised by qualified geologists.

Samples were dried, crushed and pulverised at the SGS laboratory in Bamako to produce a 50g fire assay charge.

Drill types are 2 multipurpose drill rigs and one dedicated diamond drill rig, all of which are capable of collecting PQ, HQ and NQ core. One of the multipurpose rigs was being used for RC drilling using a 118mm diameter reverse circulation hammer but is now only drilling NQ diameter core. All core is orientated using Reflex digital system.

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|---|---|---|
|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.|Drill core:
Sample recoveries were measured in the normal way for diamond drill core.
Core recoveries were generally excellent except for the saprolite where some
core loss was experienced owing to clayey core being washed out in the
diamond drilling process. Given that most of these saprolite core loss zones
were obtained in mineralised intervals, grade is probably underestimated in
those sections as zones of core loss are assumed to contain no gold.
Significant sample bias is not expected with cut core.
RC chips:
Each 1 metre drill sample was weighed.
Sample recoveries were in general high and no unusual measures were taken
to maximise sample recovery.
Significant sample bias is not expected with riffle splitting of RC chips.|
|Logging|Whether core and chip samples
have been geologically and
geotechnical 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/Trench, channel,
etc) photography.
The total length and percentage
of the relevant intersections
logged.|All drill samples were logged systematically for lithology, weathering,
alteration, veining, structure and minor minerals. Minor minerals were
estimated quantitively. A core orientation device was employed enabling
orientated structural measurements to be taken.|
|Sub-Sampling
Technique 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.|The diamond drill samples were collected by longitudinally splitting core
using a core saw or a knife where core was very soft and clayey. Half of
the core was sent off to the laboratory for assay. The sampling method is
considered adequate for a diamond drilling program of this type.
The RC samples were collected by riffle splitting samples from large bags
collected directly from the cyclone on the drill rig. Sample condition is
generally dry, however a few samples are moist or wet. One field
duplicate was taken and assayed every 45m. The sampling method is
considered adequate for an RC drilling program of this type.|

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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.	All samples were assayed by SGS technique FAA505 for gold with a detection limit of 5ppb Au. All samples with gold values exceeding 10g/t Au were re- assayed using SGS method FAA515 with a detection limit of 0.01g/t Au. Field duplicates, standards and blank samples were each submitted for every 15 samples on a rotating basis. Diamond core field duplicates were obtained by cutting the half core sample into two quarter core samples. As samples are not homogenised some variation is expected. Duplicate and standards analyses were all returned were within acceptable limits of expected values.
Verification of Sampling and Assaying	The verification of significant intersections by either independent or alternative company personnel. The use of twinned holes The verification of significant intersections by either independent or alternative company personnel. Discuss any adjustment to assay data	At this stage, the intersections have not been verified independently. Some partial twin holes were drilled in the holes reported herein, specifically where initial RC precollars (named BNERC*) were not able to be re-entered by the diamond rig resulting in a second hole being drilled within 5m and named BNERDA. Both BNERC and the completed BNERD*A holes therefore have the same hole number (eg. BNERC0005 and BNERD0005A). These holes are sufficiently close to a previously drilled holes to provide confirmation of the location of mineralisation. In addition, KKODD002 was drilled close to aircore hole KKOAC001 and demonstrated that similar, consistent gold mineralisation was present in the near surface.
Location of Data points	Accuracy and quality of surveys used tolocate 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	Drill hole collar locations were recorded at the completion of each hole by hand-held GPS. Positional data was recorded in projection WGS84 Zone 29N. Hole locations will be re-surveyed using a digital GPS system at completion of program.
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 grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. Whether sample compositing has been applied	The diamond and RC drill holes were designed to explore the gold mineralised system in fresh rock. A series of DD holes are in the process of being drilled on most 80m spaced sections in the 1.3km long zone tested previously with RC drilling. The Company believes that the drill hole spacings being employed at NE Bankan and Bankan Creek will be sufficient for Mineral Resource estimation however this will be determined by the independent Competent Person who will assess if a sufficient understanding of mineralisation continuity has been established.
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.	There is very limited outcrop in the immediate area but based on the small number of geological observations and the overall strike of the anomaly, an east west line orientation with holes inclined to the west was considered most likely to test the target mineralised zone. Results from earlier drilling has now determined that the overall dip of the gold mineralised envelope is to the west at NE Bankan and to the west-south-west at Bankan Creek. All drill holes reported in this release were drilled from west to east (at NE Bankan) or from west-south-west to east-north-east (at Bankan Creek) to obtain near-true widths through the intersected gold mineralisation.
Sample Security	The measures taken to ensure sample security	Core trays and RC chips are stored in a guarded location close to the nearby Bankan Village. Coarse rejects and pulps will be eventually recovered from SGS in Bamako and stored at Predictive’s field office in Kouroussa.

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|---|---|---|
|Audits or Reviews|The results of any audits or
reviews of sampling techniques
and data|No reviews or audits of sampling techniques were conducted.|
|Section 2 Reporting of Exploration Results|||
|Mineral
Tenement and
Land Tenure
Status|Type, reference name/number,
location and ownership including
agreements or material issues with
third partiessuch asjoint
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 Bankan Gold Project comprises 4 exploration permits, Kaninko (PDI
100%), Saman (PDI 100%), Bokoro (PDI 100%) and Argo JV (right to earn
100% in JV with local partner). Licences are held by Predictive
subsidiaries in Guinea or in a joint venture structure.|
|Exploration Done
by Other Parties|Acknowledgment and
appraisal of exploration by
other parties.|Predictive is not aware of any significant previous gold exploration over
the permit.|
|Geology|Deposit type, geological setting
and style of mineralisation.|The geology of the Kaninko permit consists of felsic intrusives including
granite and tonalite, with mafic to intermediate volcanics and
intrusives. Metasediments including marble, chert and schists have also
been observed.|
|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:
•
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.|See Table 1 and the accompanying notes in this table.|
|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 clearlystated.|Diamond and RC drill sampling was generally in one metre intervals.
Up to 2m (down-hole) of internal waste is included for results reported at the
0.25g/t Au cut-off grades.
Mineralised intervals are reported on a weighted average basis.|
|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|True widths have been estimated for intercepts where mineralisation
orientation is reasonably clear.|

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|---|---|---|
||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’).||
|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.|Appropriate maps, cross sections and a longitudinal projection are
included in this release (Figures 1-5).|
|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.|Comprehensive reporting of the drill results is provided in Table 1.|
|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.|All other exploration data on this area has been reported previously by
PDI.|
|Further Work|The nature and scale of planned
further work (eg tests for lateral
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.|These results form part of a large ongoing program of RC and diamond
drilling. Geological studies will continue to be conducted to characterise
the gold mineralisation going forward.|