PREDICTIVE DISCOVERY LIMITED — Regulatory Filings 2021

Jun 2, 2021

ASX: PDI | 03 June 2021

NE BANKAN EXTENDS TO DEPTH WITH STRONG GOLD GRADES

Predictive Discovery Limited (ASX: PDI, Predictive or the Company) is pleased to announce results of three Diamond Drill (DD) holes, totalling 1,024m, from its Bankan Project, located in Guinea.

HIGHLIGHTS

Step-out diamond drilling at NE Bankan continues to deliver impressive gold mineralisation at depth below earlier drill intercepts, including:

• BNERD0068: 5m @ 2.4g/t Au from 245m, and 18m @ 3.0g/t Au from 259m, and 23m @ 1.9g/t Au from 328m

• BNERD0012A: 13m @ 1.1g/t Au from 14m, and 25m @ 1.5g/t Au from 275m

• BNERD0070: 15m @ 1.1g/t Au from 114m

Managing Director Paul Roberts commented: “These new results are from three step-out holes testing NE Bankan at depth as part of the ongoing Maiden Resource drill-out. We are particularly encouraged by the results of BNERD0068 that demonstrate continued good widths and high average grades below drill hole BNERD0014 ( 30m at 2.8g/t Au[1] ) at the southern end of the central, higher grade gold mineralised zone .

Together, these two holes show that the ore deposit maintains its strike length with good gold grades and widths at depth and with significant upside given we are yet to see how deep this system continues.

Results of the remaining step out holes beneath the centre of the gold deposit (green dots – Fig. 1) are now keenly awaited .

The focus of the remaining resource drilling is now at Bankan Creek, located just 3km west of NE Bankan gold discovery, where infill diamond drilling is now in progress. Elsewhere, we are continuing to advance the promising Bankan regional targets and are planning follow-up of the new, Koundian high-grade auger drill results.”

1 ASX Announcement - NE BANKAN CENTRAL GOLD ZONE EXTENDING TO SOUTH AT DEPTH WITH HIGHER GRADES [6 May 2021]

==> picture [125 x 13] intentionally omitted <==

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

ASX: PDI | 03 June 2021
----- End of picture text -----

==> picture [512 x 466] intentionally omitted <==

Figure 1 - NE Bankan plan view showing new DD/RC holes (red result labels) and pending drill results (green dots).

Predictive Discovery Limited (ASX: PDI, Predictive or the Company) is pleased to announce results of three more holes from the resource drilling program at the Company’s Bankan Project, where Predictive has made two significant gold discoveries within the past 14 months. Significant results from the NE Bankan prospect are shown in Figures 1-5, with all results listed in Table 1 and drill data collection information documented in Table 2.

The three new holes provide further confirmation that the Central Gold Mineralised Zone at NE Bankan (Fig. 1) continues to extend at depth, thereby continuing to increase the size of the known

ASX: PDI | 03 June 2021

gold mineralised body while remaining open at depth. Results of the remaining deep holes beneath the centre of the gold deposit (green dots – Fig. 1) are now keenly awaited.

==> picture [512 x 417] intentionally omitted <==

Figure 2 – Cross section 1174940N showing results of new DD/RC hole BNERD0068 (red result labels).

ASX: PDI | 03 June 2021

==> picture [506 x 387] intentionally omitted <==

Figure 3 – Cross section 1175260N showing results of new DD/RC hole BNERD0012A (red result labels).

ASX: PDI | 03 June 2021

==> picture [518 x 300] intentionally omitted <==

Figure 4 – Longitudinal Projection showing locations of new drill results (red result labels).

Next Steps

All but one of the planned deep drill holes at NE Bankan have now been completed and results will be received progressively over the next month.

The drill program focus has now switched to infill drilling the Bankan Creek deposit in preparation for the planned Maiden Resource Estimate. The Company has taken steps to transition its drilling method from RC to DD using a different drill rig to improve performance during the wet season. The quality of information gathered from the diamond core will be greater, however it does take longer than RC drilling. As such the drill program is expected to continue for 4-5 weeks longer than originally planned. 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, follow up air core or RC drilling is expected in the coming months.

==> picture [39 x 9] intentionally omitted <==

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

-END-
----- End of picture text -----

ASX: PDI | 03 June 2021

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.

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 very large drilling program is currently underway with the aim of delivering an initial resource in the September Quarter, 2021.

ASX: PDI | 03 June 2021

==> picture [518 x 410] intentionally omitted <==

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

TABLE 1 – NE BANKAN 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	0.25g/t gold cut-off	0.25g/t gold cut-off	Comments
								From	Interval	Aug/t
BNERD0012A	Bankan NE	396480	1175256	421	90	-55	402.00	0.0	1.0	1.32
								14.0	13.0	1.10
								32.0	3.0	0.35
								141.0	1.0	2.37
								221.0	1.0	2.04
								228.0	4.0	0.55
								265.0	6.0	0.93
								275.0	25.0	1.53
								307.0	6.0	0.27
								316.0	17.0	0.32

ASX: PDI | 03 June 2021

								340.0	7.0	0.63
								367.2	7.8	0.53
BNERD0070	Bankan NE	396645	1174779	421	90	-55	227.40	10.0	4.0	0.32
								114.9	15.1	1.11	Incl. 10.1m @ 1.48g/t Au from 114.9m
								138.8	2.3	0.82
								155.0	10.0	0.50
BNERD0068	Bankan NE	396467	1174947	423	90	-55	394.80	35.0	1.0	1.08	Reported to ASX 6 May 2021
								61.0	1.0	3.45
								245.0	5.0	2.41
								259.0	18.0	3.01	Incl. 15m @ 3.55g/t Au from 259m
								281.0	7.0	0.47
								297.0	9.0	0.31
								320.0	3.0	0.32
								328.0	23.0	1.89	Incl. 16m @ 2.53 g/t Au from 334m including 1m @ 25.0 g/t Au from 349m

TABLE 2 - JORC CODE – DRILLING

Section 1: Sampling Techniques and Data

JORC Code Criteria Commentary Explanation Sampling Nature and quality of sampling (eg Samples assayed were cut drill core and reverse circulation (RC) drill Technique cut channels, random chips, or chips. specific specialised industry standard measurement tools appropriate to the minerals under Core was cut in half with a core saw where competent and with a knife in investigation, such as downhole soft saprolite in the upper sections of the diamond drill holes. gamma sondes, or handheld XRF instruments, etc). These examples One metre RC chip samples were riffle split producing samples which should not be taken as limiting the weighed 2-3kg for submission to the assay laboratory. Duplicate samples broad meaning of sampling Include reference to measures taken to were also retained for re-assay. ensure sample representivity and the appropriate calibration of any Sampling was supervised by qualified geologists. measurement tools or systems used. Aspects of the determination of mineralisation that are Material Samples were dried, crushed and pulverised at the SGS laboratory in to the Public Report. Bamako to produce a 50g fire assay charge.

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.

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.

ASX: PDI | 03 June 2021

|||ASX: PDI | 03 June 2|
|---|---|---|
|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 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.|
|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.|

ASX: PDI | 03 June 2021

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 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 adequacy of the current drill hole spacing for Mineral Resource estimation is not yet known as an appropriate understanding of mineralisation continuity has not yet 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. 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 will be eventually recovered from SGS in Bamako and stored at Predictive’s field office in Kouroussa.

ASX: PDI | 03 June 2021

|||ASX: PDI | 03 June 2|
|---|---|---|
|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 and reconnaissance
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
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.|

ASX: PDI | 03 June 2021

|||ASX: PDI | 03 June 2|
|---|---|---|
||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 1-4).|
|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.|