PREDICTIVE DISCOVERY LIMITED — Capital/Financing Update 2021

Mar 30, 2021

ASX: PDI | 31st March 2021

NE BANKAN WIDTH EXTENDED TO 300 METRES WITH HIGH-GRADE GOLD FROM SURFACE

Predictive Discovery Limited (ASX: PDI, Predictive or the Company) is pleased to announce results from 7 Reverse Circulation (RC) holes completed at the Bankan Gold Project, located in Guinea.

HIGHLIGHTS

• Shallow oxide drilling at the NE Bankan Prospect continues to return broad intersections including high-gold grades with better results including:
  • 51m @ 2.5g/t Au from 2m, incl. 1m @ 76.8g/t Au from 43m
  • 54m @ 2.1g/t Au from surface, incl. 3m @ 11.2g/t Au from 14m
  • 9m @ 2.4g/t Au from surface, incl. 1m @ 18.5g/t Au from 5m, and
    • 17m @ 2.6g/t Au from 29m, incl. 3m @ 10.0g/t Au from 30m
  • 36m @ 1.8g/t Au from 3m, and
    • 37m @ 1.0m from 44m
• The above results have confirmed that the oxide gold mineralisation on drill section 1175260N extends over a horizontal width of 300m and is predominantly mineralised down to the base of oxidation at vertical depths of 40 to 65m. The drilling also demonstrates the continuity of broad zones of gold mineralisation from surface down into fresh rock.
• RC and diamond drilling continues with three (3) rigs at site to support the maiden Mineral Resource Estimate, on track for mid-2021.

Commenting on the results, Predictive Discovery Managing Director Paul Roberts said:

"These new results expand our detailed drill coverage of the shallow oxide gold mineralisation 80m to the north of the previously reported oxide-gold drill coverage. The horizontal extent of gold mineralisation is even wider than the mineralisation seen on the next section to the south and the gold grades and widths in individual holes continue to be exceptionally impressive. The deeper holes on this section also demonstrate clear continuity from the near surface through to previously drilled strong intercepts in fresh rock (e.g. KKODD011 – 55m at 2.9g/t Au1 )."

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

Bankan Project Drilling Update

Over the past 11 months, the Company has made two significant greenfield gold discoveries at Bankan, initially at the NE Bankan prospect, where the first phase of drilling has outlined a 1.6kmlong zone of shallow gold mineralisation, now with steadily increasing RC/DD drill coverage at depth. Bankan Creek is a satellite discovery 3km to the west of NE Bankan that has only been lightly tested but which bears the hallmarks of a strong gold mineralised system.

This announcement covers 7 RC-holes (BNERC0044-BNERC0050), totalling 772m, from the central zone oxide drilling program, of which one (BNERD0045) has a 114m long DD "tail".

The RC oxide drill program is testing a very wide zone of shallow oxide gold mineralisation in deeply weathered bedrock on an 80m x 50m drill collar spacing. The completed lines of oxide RC drilling to date have confirmed the continuity and very broad widths of oxide gold mineralisation in the upper 50m of the central NE Bankan zone. This shallow oxide zone has now been confirmed by west to east RC drilling on five 80m-spaced cross sections over an average width of over 200m.

The ongoing deeper RC/DD program at NE Bankan is designed on an 80 x 80m spacing in the west dipping plane of the gold mineralisation and is testing the extent of the gold to a vertical depth of at least 250m in the fresh rock. New intersections continue to confirm broad widths and good grades down to 200m vertical depth.

Drill samples reported in this release were assayed by fire assay at SGS in Bamako (Mali). Detailed results and a complete explanation of the methods followed in drilling and assaying the reported holes are provided in Table 1.

Figures 1, 2 and 3 illustrate the results in cross section, longitudinal projection and plan view respectively.

Figure 1 - NE Bankan Cross Section 1,175,260N showing new RC holes BNERC0044-0050 (red result labels)

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Figure 2 - NE Bankan Prospect Longitudinal Projection showing gold endowment with pierce points located at the mid-point of drill hole intervals and new RC drill results (red result labels).

Figure 3 - NE Bankan plan view showing new RC holes BNERC0044-0050 (red result labels)

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Ongoing Work

Three rigs are completing RC and DD drilling programs designed to support the Maiden Resource Estimate planned for mid-2021 with metallurgical test work scheduled to begin in April 2021.

The focus of the current power auger program is to search for gold mineralisation beneath significant artisanal workings in the Argo permit (Figure 4) approximately 20km to the north of NE Bankan.

The Company is currently completing processing and interpretation of the recently acquired aeromagnetic survey which has already identified a number of structures and targets to the north and south of NE Bankan as the Company searches for additional gold discoveries within the project area. Once complete, geological mapping and auger drilling will be used to explore those targets.

Hole No.	Prospect	UTM29N East	UTM 29NNorth	RL(GPS)	Holeazimuth	Holedip	Holedepth	Depthfrom	Interval(est. truewidth inbrackets)	Au g/t(0.25g/tcut-off)	Comments
BNERC0044	Bankan NE	396745	1175260	428	90	-55	200.00	3.0	36.0 (34.2)	1.80	Incl. 29m @ 2.16g/t Au from10m
								44.0	37.0 (35.2)	1.06	Incl. 24m @ 1.42g/t Au from10m
								84.0	37.0 (35.2)	0.74
								125.0	43.0 (40.9)	0.74
								175.0	24 (22.8)	0.55
BNERD0045	Bankan NE	396795	1175260	427	90	-55	196.75	0.0	54.0 (51.3)	2.06	Incl. 18m @ 3.08g/t Au from 6m(including 3m @ 11.17g/t Aufrom 14m) and 24m at 2.16g/tAu from 30m.
								57.0	10.0 (9.5)	0.73
								83.0	18 (17.1)	0.66
								110.0	2.0 (1.9)	0.35
								115.0	16.0 (15.2)	0.83	Incl. 0.65m @ 8.79g/t Au from126m
								138.0	2.0 (1.9)	0.44
								146.0	20.0 (19.0)	0.92
								183.0	2.0 (1.9)	6.95	Incl. 1m @11.00/g/t Au from183m
BNERC0046	Bankan NE	396845	1175260	427	90	-55	105.00	2.0	51.0 (48.5)	2.52	Incl. 10m @2.39g/t Au from14m and 14m @ 6.66g/t Aufrom 31m (including 1m @76.8g/t Au from 43m)
								71.0	16.0 (15.2)	1.14	Incl. 2m @ 6.42g/t Au from 85m
								93.0	12.0 (11.4)	0.94	Mineralised to end of hole
BNERC0047	Bankan NE	396895	1175260	424	90	-55	90.00	0.0	14.0 (13.3)	1.07
								20.0	1 (1.0)	1.01
								24.0	2 (1.9)	0.80

TABLE 1 – BANKAN PROJECT RC RESULTS - Section 1,175,260N

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					38.0	16.0 (15.2)	0.60
								76.0	7.0 (6.7)	1.10
BNERC0048	Bankan NE	396945	1175260	424	90	-55	80.00	0.0	9.0 (8.7)	2.43	Incl. 1m@ 18.50g/t Au from 5m
									17.0 (16.5)	2.58	Incl. 14m @3.09g/t Au from29m (including 3m @ 10.03g/tAu from 30m)
								49.0	10.0 (9.7)	0.62
BNERC0049	Bankan NE	396995	1175260	429	90	-55	50.00	0.0	28.0 (28.0)	0.62
BNERC0050Bankan NE397045117526042890-5550.00									9.0 (9.0)	0.33
								14.0	2.0 (2.0)	0.83
							771.75	22.0	4.0 (4.0)	2.05
Note: Some RC holes contain a small number of damp to wet samples.

-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:

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.

Previously released ASX Announcements related to the Bankan Project include:

• Exceptionally high gold grades in multiple thick intercepts from NE Bankan [15 March 2021]
• Substantial oxide gold zone emerging at NE Bankan Project [5 March 2021]
• Further depth extensions from drilling at both NE Bankan & Bankan Creek gold discoveries [25 February 2021]
• High grade drill results extend Bankan creek gold discovery to north [11 Feb 2021]

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• Outstanding, wide gold intercept grows Bankan at depth [28 Jan 2021]
• 92m at 1.9g/t gold diamond drilling expands Bankan Project [13 Oct 2020]
• NE Bankan gold deposit grows with more strong drill results [25 Sept 2020]
• Additional permits along strike from flagship Bankan Project [17 Sept 2020]
• 55m at 2.94g/t gold-broad true widths confirmed at Bankan [10 Sept 2020]
• NE Bankan now 1.6km long with possible parallel gold zone [3 Sept 2020]
• Bankan Creek gold zone further expanded [27 Aug 2020]
• Strong wide gold intercepts from Bankan Creek and NE Bankan [19 Aug 2020]
• Outstanding high-grade gold results from NE Bankan, Guinea [7 Aug 2020]
• Diamond drilling confirms gold at depth at NE Bankan, Guinea [31 Jul 2020]
• Impressive 1st RC drill results grow NE Bankan discovery [17 Jul 2020]
• NE Bankan discovery guinea extended 30% to 1.3km in length [30 Jun 2020]
• Kaninko auger results double gold-mineralised strike length [27 May 2020]
• Final drill results, Bankan Creek, Kaninko Project, Guinea [30 Apr 2020]
• 44m at 2.06g/t gold from Bankan Creek, Kaninko, Guinea [27 Apr 2020]
• Outstanding drill results from new gold discovery in Guinea [15 Apr 2020]

ABOUT PREDICTIVE

Figure 4 - Predictive Discovery's 100%-owned Guinea Portfolio of gold projects

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 358km2land package with no previous drilling undertaken. A 25,000-meter drilling program is currently underway with the aim of delivering an initial resource in mid-2021.

Section 1: Sampling Techniques and Data
Criteria	JORC CodeExplanation	Commentary
SamplingTechnique	Nature and quality of sampling (eg cutchannels, random chips, or specific specialisedindustry standard measurement toolsappropriate to the minerals underinvestigation, such as downhole gammasondes, or handheld XRF instruments, etc).These examples should not be taken aslimiting the broad meaning of samplingInclude reference to measures taken toensure sample representivity and theappropriate calibration of any measurementtools or systems used. Aspects of thedetermination of mineralisation that areMaterial to the Public Report.In cases where 'industry standard' work hasbeen done this would be relatively simple(eg 'reverse circulation drilling was used toobtain 1 m samples from which 3 kg waspulverised to produce a 30 g charge for fireassay'). In other cases more explanationmay be required, such as where there iscoarse gold that has inherentsamplingproblems. Unusual commodities ormineralisation types (eg submarinenodules) may warrant disclosure of detailedinformation.	Samples assayed were reverse circulation (RC) drill chips.One metre RC chip samples were riffle split producing sampleswhich 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 SGSlaboratory in Bamako to produce a 50g fire assay charge.
Drilling	Drill type (eg core, reverse circulation,open- hole hammer, rotary air blast, auger,Bangka,sonic, etc) and details (eg corediameter, triple or standard tube, depth ofdiamond tails, face- sampling bit or othertype, whether core is oriented and if so, bywhat method, etc).	Drill types on site are 2 multipurpose drill rigs and one dedicateddiamond drill rig, all of which are capable of collecting PQ, HQand NQ core. One of the multipurpose rigs is being used for RCdrilling using a 118mm diameter reverse circulation hammer.
Drill SampleRecovery	Method of recording and assessing coreand chip sample recoveries and resultsassessed.Measures taken to maximise samplerecovery and ensure representativenature of the samples.Whether a relationship exists betweensample recovery and grade and whethersample bias may have occurred due topreferential loss/gain of fine/coarsematerial.	RC chips:Each 1 metre drill sample was weighed.Sample recoveries were in general high and no unusual measureswere taken to maximise sample recovery.Significant sample bias is not expected with riffle splitting of RCchips.

TABLE 2 - JORC CODE – DRILLING

Logging	Whether core and chip samples havebeen geologically and geotechnical loggedto a level of detail to support appropriateMineral Resource estimation, miningstudies and metallurgicalstudies.Whether logging is qualitative orquantitative in nature. Core (orcostean/Trench, channel, etc)photography.The total length and percentage of therelevant intersectionslogged.	All drill samples were logged systematically for lithology,weathering, alteration, veining, structure and minor minerals. Minorminerals were estimated quantitively.
Sub-SamplingTechniqueand SamplePreparation	If core, whether cut or sawn and whetherquarter, 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 andappropriateness of the sample preparationtechnique.Quality control procedures adopted for allsub-sampling stagesto maximiserepresentivity of samples.Measures taken to ensure that the samplingis representative of the in situ materialcollected, including for instance results forfield duplicate/second-halfsampling.Whethersample sizes are appropriate to thegrain size of the material being sampled.	RC samples were collected by riffle splitting samples from largebags collected directly from the cyclone on the drill rig. Samplecondition is generally dry, however a few samples wererecorded as damp or wet. One field duplicate was taken andassayed every 50m. The sampling method is consideredadequate for an RC drilling program of this type.
Quality of AssayData andLaboratory Tests	The nature, quality and appropriatenessof the assaying and laboratoryprocedures used and whether thetechnique is considered partial or total.For geophysical tools, spectrometers,handheld XRF instruments, etc, theparameters used in determining theanalysisincluding instrument make andmodel, reading times, calibrations factorsapplied and their derivation, etc.Nature of quality control proceduresadopted (eg standards, blanks, duplicates,external laboratory checks) and whetheracceptable levels of accuracy (ie lack ofbias) and precision have been established.	All samples were assayed by SGS technique FAA505 for gold with adetection limit of 5ppb Au. All samples with gold values exceeding10g/t Au were re-assayed using SGS method FAA515 with adetection limit of 0.01g/t Au.Field duplicates, standards and blank samples were each submittedfor every 15 samples on a rotating basis.Duplicate and standards analyses were all returned were withinacceptable limits of expected values.
Verificationof Samplingand Assaying	The verification of significant intersectionsby either independent or alternativecompany personnel.The use of twinned holes The verificationof significant intersections by eitherindependent or alternative companypersonnel. Discuss any adjustment toassay data	At this stage, the intersections have not been verifiedindependently.No twin holes were drilled in the holes reported here but somedrilling has been done previously sufficiently close to a previouslydrilled holes to provide confirmation of the location ofmineralisation. Specifically KKODD002 was drilled close to Air CoreHole KKOAC001 and demonstrated that that similar, consistentgold mineralisation was present in the near surface.
Location of Datapoints	Accuracy and quality of surveys used tolocate drill holes (collar and down- holesurveys), trenches, mine workings andother locations used in Mineral Resourceestimation.Specification of the grid system usedQuality and adequacy of topographiccontrol	Drill hole collar locations were recorded at the completion ofeach 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 atcompletion of program.

Data SpacingandDistributionOrientationof Data inRelation toGeologicalStructureSample Security	Data spacing for reporting of ExplorationResultsWhether the data spacing and distributionis sufficient to establish the degree ofgeological and grade continuityappropriate for the Mineral Resource andOre Reserve estimation procedure(s) andclassifications applied.Whethersample compositing has beenappliedWhether the orientation of samplingachieves unbiased sampling of possiblestructures and the extent to which this isknown, considering the deposit type.If the relationship between the drillingorientation and the orientation of keymineralised structuresis considered tohave introduced a sampling bias, thisshould be assessed and reported ifmaterial.The measurestaken to ensure samplesecurity	The reported RC drill holes were designed to explore the goldmineralised system in the shallow oxidised material and theircorrelation with deeper intercepts in fresh rock.The adequacy of the current drill hole spacing for MineralResource estimation has not yet been formally determined bythe relevant independent expert but the Company believed thatthe holes reported in this release are sufficiently closely spacedto warrant inclusion in a Resource Estimate.There is very limited outcrop in the immediate area but based on thesmall number of geological observations and the overall strike of theanomaly, an east west line orientation with holes inclined to thewest was considered most likely to test the target mineralised zone.Results from earlier drilling has now determined that the overall dipof the gold mineralised envelope is to the west. All drill holesreported in this release were drilled from west to east to obtainnear-true widths through the gold mineralisation.RC chips are stored in a guarded location close to the nearbyBankan Village. Coarse rejects and pulps are beingprogressively recovered from SGS in Bamako and stored at
Audits or	The results of any audits or reviews of	Predictive's field office in Kouroussa.
Reviews	sampling techniques and data	No reviews or audits of sampling techniques were conducted.
	Section 2 Reporting of Exploration Results
MineralTenementand LandTenure Status	Type, reference name/number, locationand ownership including agreements ormaterial issues with third partiessuch asjoint ventures, partnerships, overridingroyalties, native title interests, historicalsites, wilderness or national park andenvironmental settings.The security of the tenure held at the timeof reporting along with any knownimpedimentsto obtaining a licence tooperate in the area.	The Kaninko Reconnaissance Authorisation was granted to aPredictive subsidiary in Guinea in June 2019. It was converted toan Exploration Permit in early October 2019. It is 100% ownedby Predictive.
ExplorationDone by	Acknowledgment and appraisal of	Predictive is not aware of any significant previous goldexploration over the permit.
Other PartiesGeology	exploration by other parties.Deposit type, geological setting andstyle of mineralisation.	The geology of the Kaninko permit consists of felsic intrusivesincluding granite and tonalite, with mafic to intermediatevolcanics and intrusives. Metasediments including marble,chert and schists have also been observed.
Drill HoleInformation	A summary of all information material tothe understanding of the exploration resultsincluding a tabulation of the followinginformation for all Material drill holes:•easting and northing of the drillhole collar•elevation or RL (Reduced Level –elevation above sea level in metres) ofthe drill hole collar•dip and azimuth of the hole•down hole length and interceptiondepth•hole length•If the exclusion of this information isjustified on the basis that theinformation is not Material and thisexclusion does not detract from theunderstanding of the report, theCompetent Person should clearlyexplain why this is the case.	See Tables 1 and 2 and the accompanying notes in these tables.
DataAggregationMethods	In reporting Exploration Results, weightingaveraging techniques, maximum and/orminimum grade truncations(eg cutting ofhigh grades) and cut-off grades are usuallyMaterial and should be stated.	RC drill sampling was generally in one metre intervals.Up to 2m (down-hole) of internal waste is included for resultsreported at the 0.25g/t Au cut-off grade.

	Where aggregate interceptsincorporateshort lengths of high grade results andlonger lengths of low grade results, theprocedure used for such aggregation shouldbe stated and some typical examples ofsuch aggregationsshould be shown indetail.The assumptions used for any reporting ofmetal equivalent valuesshould be clearlystated.	Mineralised intervals are reported on a weighted average basis.
Relationship	These relationships are particularly	True widths have been estimated for intercepts where
BetweenMineralisation	important in the reporting of ExplorationResults	mineralisation orientation is reasonably clear.
Widths and	If the geometry of the mineralisation
Intercept	with respect to the drill hole angle is
Lengths	known, its nature should be reported. If itis not known and only the down hole
	lengths are reported, there should be a
	clear statement to this effect (eg 'down
Diagrams	hole length, true width not known').Appropriate maps and sections (with
	scales) and tabulations of intercepts should	An appropriate map, cross section and a longitudinal
	be included for any significant discovery	projection are included in this release (Figures 1-3).
	being reported These should include, butnot be limited to a plan view of drill hole
	collar locations and appropriate sectional
	views.
BalancedReporting	Where comprehensive reporting of allExploration Resultsis not practicable,	Comprehensive reporting of the drill results is provided in
	representative reporting of both low and	Table 1.
	high grades and/or widthsshould be
	practiced to avoid misleading reporting ofExploration Results.
Other	Other exploration data, if meaningful and	All other meaningful and material exploration data on this area
Substantive	material, should be reported including (but	has been reported previously by PDI.
Exploration	not limited to): geological observations;
Data	geophysical survey results; geochemicalsurvey results; bulk samples – size and
	method of treatment; metallurgical test
	results;
	bulk density, groundwater, geotechnicaland rock characteristics; potential
	deleterious or contaminating substances.
Further Work	The nature and scale of planned further	These results form part of a large ongoing program of RC and
	work (eg tests for lateral extensions or largescale step out drilling.	diamond drilling. Geological studies will continue to be
	Diagrams clearly highlighting the areas of	conducted to characterise the gold mineralisation going forward.
	possible extensions, including the main
	geological interpretations and future drillingareas, provided this information is not
	commercially sensitive.