PREDICTIVE DISCOVERY LIMITED — Regulatory Filings 2021

Aug 23, 2021

24 August 2021

STRONG WIDTHS AND GRADES FROM BANKAN CREEK RESOURCE DRILL HOLES

Drilling ongoing with 2 diamond rigs testing high-grade NE Bankan zone

Predictive Discovery Limited (“Predictive” or “the Company) is pleased to announce new results from 7 Diamond Drill (DD) and Reverse Circulation (RC) holes (totalling 1,268m) from its Bankan Gold Project, located in Guinea.

Highlights

• All resource drill assays have now been received with excellent new results from Bankan Creek, some from very shallow depths, including:

• BCKDD0018: 34m @ 3.7g/t Au from 6m, including

  • 5m @ 15.5g/t Au from 17m

• BCKDD0013: 17m @1.6g/t Au from 113m, and

  • 10.6m @ 3.8g/t Au from 142m

• BCKDD0014: 21m @ 1.5g/t Au from 38m, and

  • 18m @ 2.6g/t Au from 64m, including

  • 2.5m @ 14.5g/t Au from 73m

• BCKDD0015: 36m @ 1.8g/t Au from 17m

• One RC-DD hole from NE Bankan (BNERD0089) was completed to test the southern margin of the Central Gold Mineralised Zone (Figures 4-5). Results from this hole show that the overall plunge of the deposit is directly down-dip to the west as BNERD0089 intersected the mineralised position south of and outside the high-grade core. The current, deeper drilling program targeting the high-grade gold zone is now testing the down-dip position (Figure 4).

• All resource drill data has now been submitted to independent resource consultants CSA Global for preparation of the maiden Mineral Resource Estimate (MRE), scheduled for completion by late September.

• The initial phase of metallurgical testwork is nearing completion with results expected to be released in September prior to the MRE.

• A second multipurpose drill rig has now commenced at NE Bankan. Two rigs are now diamond drilling down-dip extensions of the high-grade gold zone reported in July.

• The Bankan Project regional exploration program has also accelerated with addition of one air core drill rig and with power auger drilling ongoing.

Managing Director, Paul Roberts said: “ We are pleased to have received all drill assays required for our maiden Mineral Resource Estimate (MRE). The new results add further confirmation of Bankan Creek’s exciting potential, adding to the already impressive list of drill intercepts from that prospect, and will make an important contribution to the upcoming MRE. We have not yet reached the limits of the Bankan Creek deposit either at depth or along strike and it is expected grow significantly with additional drilling.

Resource estimation and metallurgical testwork are progressing well and on schedule for completion in September.

Aggressive exploration of the NE Bankan deposit below the limits of the current resource drill coverage has accelerated with the addition of a second multipurpose drill rig to explore for extensions of the high-grade gold zone at depth. We expect first results from this extensional drilling to be released in the coming weeks.

Our regional Bankan exploration program is also stepping up during the current rainy season with the addition of an air core drill rig. Air core drilling will test beneath the many auger holes which have obtained encouraging gold intercepts in the past 12 months.”

BANKAN CREEK

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Figure 1 - Bankan Creek plan view showing new results from DD holes BCKDD0013 to BCKDD0019 (red labels) overlain on the power auger and trench defined near-surface gold anomaly.

Bankan Creek is a satellite discovery 3km to the west of NE Bankan and bears the hallmarks of a strong gold mineralised system that will contribute significantly to the maiden MRE. Mineralisation at Bankan Creek currently extends for approximately 300m along strike and remains open at depth and along strike. Drilling to date is mostly limited to a vertical depth of 150m or less.

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Significant results are from infill drilling completed on drill traverses BCK14 to BCK19 are reported here. Drilling is being carried out on 40m spaced drill sections with a 40 to 80m hole spacing on these sections (Figure 1).

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Figure 2 - Bankan Creek Cross Section showing new DD holes BCKDD00014, BCKDD00015 and BCKDD00018 (red result labels).

The new drilling has provided further confirmation of a series of west-dipping gold mineralised zones containing broad widths and some excellent grades, starting from near-surface. For example, BCKDD0018 (Figure 2) returned 34m @ 3.7g/t Au from 6m. Other impressive intercepts included:

• BCKDD0014: 21m @ 1.5g/t Au from 38m, and

18m @ 2.6g/t Au from 64m, including

2.5m @ 14g.t Au from 73m, and

15.2m @ 1.9g/t Au from 93.8m.

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• BCKDD0015: 36m @ 1.8g/t Au from 17m

• BCKDD0017: 12m @ 1.7g/t Au from 6m

Plan and cross-sectional views of the reported holes are provided in Figures 1-3. Detailed results and a complete explanation of the methods followed in drilling and assaying the reported holes can be found in Table 1.

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Figure 3 - Bankan Creek Cross Section showing new infill DD hole BCKDD00013 (red result labels).

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NE BANKAN

Hole BNERD0089 was completed at the southern limit of the Core Gold Mineralised Zone and was designed to test the postulated southerly plunge of the overall mineralised system. While the hole intersected several lower-grade gold intercepts in the expected position, it showed that the overall mineralised plunge is directly down-dip to the west rather than to the south.

The gram-metre contours (Figure 4) have been steepened to close to vertical in the plane of the longitudinal projection to reflect this change, and the new, deeper drilling is testing the down-dip position, guided by the amended geological interpretation.

Plan and longitudinal projection views of BNERD0089 are provided in Figures 4-5. Detailed results and a complete explanation of the methods followed in drilling and assaying the reported hole can be found in Table 1.

NEXT STEPS

Combined RC and diamond drilling has been ramped up, with a second diamond drill rig now in operation. Both drill rigs are targeting depth extensions to the recently recognised high-grade gold zone beneath the limit of the current resource drilling. Two holes (BNERD0090-91) have now been completed and a further two (BNERD0092-93) are in progress (Figure 4).

Following completion of a fifth hole in the same region (Figure 4), both drill rigs will be employed to test the high-grade gold zone both within the known limits of the NE Bankan deposit and at greater depths.

Results from the new, deep drilling program will be released as they come to hand but will not be included in the maiden MRE for which all results have now been received.

The metallurgical testwork program is proceeding well and results should be released in September prior to completion and announcement of the MRE.

An air core drill rig has now started work on the Bankan Project (Figure 6), testing beneath gold-mineralised (plus-0.25g/t Au) power auger intercepts. This rig is expected to be employed on the Bankan and other PDI Guinea Projects (including Koundian) throughout the rest of calendar 2021.

Auger drilling is currently ongoing on the Bankan project testing the northern extension to the NE Bankan trend on the Saman permit.

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24 August 2021

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Figure 4 - Bankan Project, NE Bankan Longitudinal Projection illustrating new high-grade gold zone (red stipple), with hole BNERD0089 south of the main mineralised zone.

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Figure 5 - Bankan Project showing NE Bankan new RC/DD drilling result (BNERD0089) overlain on previous results and the gold auger footprints. The position of the vertical longitudinal projection plane is shown as the NNW orientated A to B black line.

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24 August 2021

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Figure 6 – Air Core drill rig on site at the NE Bankan Project, testing beneath gold anomalous zones identified by earlier power auger drilling.

- 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 visit our website at www.predictivediscovery.com or contact: PAUL ROBERTS

Managing Director Phone: +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

Predictive Discovery (ASX: PDI) is focused on its 100%-owned Guinea portfolio in the prolific Siguiri Basin. The Company has made two discoveries at Bankan Creek and NE Bankan, located 3km apart. Bankan is a true greenfields gold discovery with no previous drilling having been completed on the licences.

At NE Bankan the Company has identified a high-grade core with recent intercepts including 49.7m @ 11.7g/t Au and 44m @ 8.0g/t Au[1] , both returned in July 2021. The Company is building towards a Maiden Resource Estimate at the Bankan Project whilst continuing to expand its regional exploration coverage.

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Figure 7 - Predictive Discovery’s 100%-owned Guinea Portfolio of gold projects

1 ASX Announcement - BONANZA GOLD GRADES AS HIGH-GRADE ZONE REVEALED AT BANKAN (19 July 2021)

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TABLE 1 – BANKAN REVERSE CIRCULATION AND DIAMOND DRILL RESULTS

Hole No.	Prospect	Easting (UTM 29N)	Northing (UTM 29N)	RL (m)	Hole azimuth	Hole dip	Hole depth (m)	0.25g/t gold cut-off	0.25g/t gold cut-off	0.25g/t gold cut-off	Comments
								From (m)	Interval (true widths in brackets)	Au g/t
BNERD0089	Bankan NE	396404	1174860	416	90	-55	466.5	323	9	0.44
								355	1	1.29
								364	10	0.69
								423	11.4	0.75
								451	5	0.94
BCKDD0013	Bankan Creek	393444	1174004	378	60	-55	220	73	3.8	1.15
								80.3	3	0.8
								84.9	4.1	0.61
								102	4	0.31
								113			Incl. 1m @ 13.1g/t Au from 127m
									17	1.65
								133	4	0.47
								142			Incl. 2.4m @ 8.31 g/t Au from 146m
									10.6	3.79
								160	13	0.85
								182	18	0.92	Incl. 1m @ 5.61 g/t Au from 190m
								207	2	1.05
BCKDD0014	Bankan Creek	393449	1174057	378	60	-55	201	29	5	0.32
								38
									21.5	1.52
								64			Incl. 2.5m @ 14.5g/t Au from 73.1m from a wider zone of 5.4m @ 7.74g/t Au from 73.1m
									18	2.61
								93.8
									15.2	1.92
								136	3.8	0.52
								149	3.3	0.59
BCKDD0015	Bankan Creek	393492	1174081	378	60	-55	130	12	1.7	3.75
								17			Incl. 23m @ 2.23g/t Au from 30m
									36	1.85
								67	2	0.5
								96	2.6	1.39
BCKDD0017	Bankan Creek	393466	1174152	378	60	-55	111	6
									12	1.72

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								26.8	10.5	1.03	Incl. 1m @ 11.0g/t Au from 27.6m
								51	6	1.84	Incl. 1.1m @ 5.1 g/t Au from 53.9m
								68	4	0.46
								77	3	1.67
								88	13	0.91	Incl. 4.65m @ 1.61g/t Au from 96.35m
BCKDD0018	Bankan Creek	393530.3	1174105.3	378	50	-55	70				Incl. 5m @ 15.48g/t Au from 17.5m, within a wider 14.2m @ 7.36g/t Au from 8.3m. Contains core loss of 1.5m (22.5- 24m) with grade assumed to be zero.
								6	34	3.73
								46.5	7.5	0.61
BCKDD0019	Bankan Creek	393455.2	1174239.9	380	60	-55	69	6	12	0.47	Incl. 2m @ 1.18g/t Au from 10m and core loss of 1.5m (12-13.5m) with grade assumed to be zero
								23	14	0.92	Incl. 3m @ 2.49g/t Au from 34m
								43.5	8.5	1.04	Incl. 0.7m @7.61g/t Au from 48.8m

TABLE 2 - JORC CODE – REVERSE CIRCULATION AND DIAMOND DRILLING

Section 1: Sampling Techniques and Data

JORC Code

Criteria Explanation

Sampling Nature and quality of sampling (eg cut Technique 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.

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.

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.

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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, face- sampling bit or other type, whether core is oriented and if so, by what method, etc).	Drill types are 2 multipurpose drill rigs, both 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.
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 (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 surveysused 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 were re-surveyed using a digital GPS system on 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 have been drilled on most 80m spaced sections in the 1.3km long zone tested previously with RC drilling. The current drill hole spacing for Mineral Resource estimation is considered adequate by the Company however this will be determined by the Competent Person at the time when the Mineral Resource Estimate is prepared.
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. All drill holes reported in this release were drilled from west to east to obtain near-true widths through the 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 are being progressively 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 (100%), Saman (100%), Bokoro (100%) and Argo JV (58%). 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 thepermit.
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 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 have been estimated for intercepts where mineralisation orientation is reasonably clear.

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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 1-6).
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.

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