PRODIGY GOLD NL — Capital/Financing Update 2016

Jul 17, 2016

==> picture [595 x 95] intentionally omitted <==

ASX ANNOUNCEMENT / MEDIA RELEASE

ASX:ABU

18 July 2016

Exploration Update – Suplejack Project

ABM Resources NL (“ABM” or the “Company”) is pleased to report that the recently announced (ASX 2 June 2016) reverse circulation (RC) drilling program at the Suplejack Project has been completed with a total of 84 holes for 8,346 metres drilled. All assay results from the Tethys Prospect, which is situated on the Hyperion trend to the east of the current resource (see appendix for details) and was the primary target of this drilling program, have now been received.

Highlights

• 22 of the 33 holes completed at Tethys returned significant gold intercepts, including:

• Hole TYRC100001 – 17 metres at 5.74g/t gold

• Hole TYRC100003 – 26 metres at 2.56g/t gold

• Hole TYRC100006 – 21 metres at 2.89g/t gold

• Hole TYRC100028 – 7 metres at 13.17g/t gold

• Hole TYRC100030 – 18 metres at 4.52g/t gold

• The drilling results confirm that gold mineralisation on the Hyperion trend extends over a strike length of at least 1,300 metres

• All mineralisation at Tethys/Hyperion remains open at depth

• Follow-up RC and diamond drilling is planned

The Tethys Prospect is situated within the Suplejack Project area on exploration license EL9250 in the northern Tanami. The latest drilling indicates that Tethys represents a significant extension of the Hyperion mineralised system.

Geology at Hyperion consists of steeply dipping sedimentary rocks (sandstone and shale), dolerite and basalt. Mineralisation is considered to be associated with a granite dyke or sill and is typically evidenced by quartz veining and elevated alteration of the host rocks. The upper parts of the system are generally leached, with mineralisation tenor increasing from 20 metres depth.

In the recent drilling program, 33 RC holes were completed for a total of 3,288 metres. The drill holes were designed to confirm and extend gold mineralisation identified by air-core drilling in 2015 (ASX 26 August 2015). This objective was achieved with 36 significant gold intercepts returned from 22 of the 33 completed holes. Collar positions for the new RC holes are shown in Figure 1 below with selected major intercepts labelled. Drill hole coordinates and details of all significant intercepts are presented in Tables 1 and 2 in the appendix.

==> picture [461 x 340] intentionally omitted <==

Figure 1: Hyperion Trend Drill Collar Plan with Major Drill Intercepts

Two holes drilled down dip from the initial air-core discovery holes on cross-section 613480mE extended mineralisation at depth, as shown in Figure 2. Two holes drilled 50 metres to the west returned broad, high grade intercepts, as shown in Figure 3, indicating potential for extending mineralisation further towards the current Hyperion resource.

==> picture [213 x 214] intentionally omitted <==

Figure 2: Tethys Cross-section at 613480mE

==> picture [196 x 214] intentionally omitted <==

Figure 3: Tethys Cross-section at 613430mE

Drilling also extended mineralisation eastward as far as 614180mE, where some of the strongest intercepts were returned, as shown in Figure 4. However as can be seen in the cross-section, there is an apparent discontinuity in the interpreted mineralisation, with the main intercept in hole TYRC100030 (18 metres at 4.52g/t) not in alignment with mineralised intersections in holes TYRC100028 and TYRC100029. This suggests possible displacement by faulting, a sudden flattening of dip or emergence of an additional parallel body of mineralisation.

2

==> picture [236 x 214] intentionally omitted <==

Figure 4: Tethys Cross-section at 614180mE

It is intended to drill an additional two RC holes on this section up and down dip of TYRC100030 and a line of three holes 50 metres along strike to both the east and west in order to help interpret the apparent change in geometry and potentially extend the high grade mineralisation intersected in this hole. The RC drilling rig utilised in the recent program has remained in the area, which should enable this follow-up drilling to be carried out in the near term.

Significant mineralisation has now been identified on the Hyperion trend over a strike length of 1,300 metres, albeit with three apparent breaks in high grade mineralisation as shown in the long section in Figure 5. There is currently a 200 metre gap in drilling between TYRC100030 and a line of three holes to the east

that did not generate any significant intercepts, providing scope for a material extension in this direction. It is not yet known whether the line of sub-grade holes on section 614380mE represents the potential limit of mineralisation or is simply another break in the strongly mineralised system.

==> picture [461 x 165] intentionally omitted <==

Figure 5: Hyperion long-section with drill hole pierce points

Mineralisation on the Hyperion trend remains completely open at depth, with the deepest hole within the current resource little more than 200 metres below surface and drilling at Tethys generally shallower than 100 metres.

A detailed mapping and re-logging program is currently underway at Suplejack in order to develop an alteration profile for the Hyperion area that may assist in targeting further mineralisation. A limited diamond drilling program is also proposed to further improve the company’s understanding of the geology of this mineralised system.

==> picture [99 x 38] intentionally omitted <==

Brett Lambert Chief Executive Officer

3

Competent Persons Statement

The information in this announcement relating to Mineral Resource estimates and exploration results is based on information reviewed and checked by Mr Alwin van Roij who is a Member of The Australasian Institute of Mining and Metallurgy. Mr van Roij is a full time employee of ABM Resources NL and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 edition of the “Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves”. Mr van Roij consents to the inclusion in the documents of the matters based on this information in the form and context in which it appears.

Appendix

Hyperion Gold Project Resource estimate with 50g/t top-cut

==> picture [380 x 175] intentionally omitted <==

th *Note - totals may vary due to rounding. Refer ASX release 16 April, 2012 for details. Re-reported in 2013/14 and 2014/15 Annual Reports to be compliant with JORC 2012.

4

Table 1: Tethys Drill Hole Co-ordinates

Hole ID	Hole Type	Total Depth	East1	North1	RL (m)	Dip	Azimuth2
TYRC100001	RC	72m	613430	7836669	412	-60°	357°
TYRC100002	RC	120m	613430	7836637	412	-60°	357°
TYRC100003	RC	120m	613481	7836632	413	-60°	357°
TYRC100004	RC	150m	613482	7836598	413	-60°	357°
TYRC100005	RC	72m	613533	7836648	415	-60°	357°
TYRC100006	RC	114m	613533	7836614	415	-60°	357°
TYRC100007	RC	72m	613583	7836623	419	-60°	357°
TYRC100008	RC	120m	613582	7836594	415	-60°	357°
TYRC100009	RC	72m	613629	7836626	415	-60°	357°
TYRC100010	RC	120m	613629	7836587	415	-60°	357°
TYRC100011	RC	90m	613679	7836598	413	-60°	357°
TYRC100012	RC	120m	613680	7836577	413	-60°	357°
TYRC100013	RC	72m	613730	7836601	415	-60°	357°
TYRC100014	RC	120m	613731	7836575	413	-60°	357°
TYRC100015	RC	132m	613731	7836550	412	-60°	357°
TYRC100016	RC	96m	613781	7836555	412	-60°	357°
TYRC100017	RC	132m	613781	7836526	413	-60°	357°
TYRC100018	RC	72m	613831	7836560	414	-60°	357°
TYRC100019	RC	120m	613831	7836535	413	-60°	357°
TYRC100020	RC	96m	613881	7836554	414	-60°	357°
TYRC100021	RC	120m	613880	7836523	413	-60°	357°
TYRC100022	RC	90m	613931	7836542	415	-60°	357°
TYRC100023	RC	120m	613929	7836512	415	-60°	357°
TYRC100024	RC	60m	613982	7836530	413	-60°	357°
TYRC100025	RC	90m	614079	7836522	415	-60°	357°
TYRC100026	RC	96m	614080	7836480	414	-60°	357°
TYRC100027	RC	90m	614079	7836430	412	-60°	357°
TYRC100028	RC	84m	614182	7836507	416	-60°	357°
TYRC100029	RC	90m	614181	7836460	414	-60°	357°
TYRC100030	RC	90m	614178	7836417	414	-60°	357°
TYRC100031	RC	96m	614379	7836457	420	-60°	357°
TYRC1000323	RC	36m	614377	7836410	420	-60°	357°
TYRC100033	RC	90m	614377	7836366	421	-60°	357°
TYRC100034	RC	90m	614379	7836409	423	-60°	357°
1. GDA94 zone 52
2. Magnetic
3. TYRC100032 was not completed and was substitued byTYRC100034

5

Table 2: Tethys Significant Drill Intercepts

Hole ID	Vertical Depth	From (m)	To (m)	Interval (m)	Grade Au (g/t)	Gram Metres (grade x width)
TYRC100001	41	47	64	17	5.74	97.64
TYRC100002	77	89	105	16	2.58	41.34
TYRC100002	95	110	119	9	0.57	5.13
TYRC100003	55	63	89	26	2.56	66.55
TYRC100003	85	98	103	5	1.12	5.61
TYRC100004	86	99	102	3	0.58	1.73
TYRC100004	100	115	122	7	1.71	12.00
TYRC100004	110	127	133	6	0.57	3.42
TYRC100004	119	137	145	8	1.26	10.12
TYRC100005	20	23	29	6	1.22	7.33
TYRC100005	31	36	62	26	1.78	46.39
TYRC100006	19	22	26	4	0.70	2.80
TYRC100006	55	64	85	21	2.89	60.75
TYRC100006	79	91	96	5	0.84	4.18
TYRC100007	47	54	70	16	1.30	20.83
TYRC100008	82	95	105	10	1.46	14.56
TYRC100009	42	48	53	5	2.26	11.32
TYRC100010	79	91	94	3	1.08	3.24
TYRC100013	23	27	32	5	4.70	23.50
TYRC100013	33	38	61	23	0.84	19.34
TYRC100015	73	84	101	17	1.83	31.17
TYRC100016	45	52	61	9	1.24	11.17
TYRC100017	75	87	95	8	3.35	26.81
TYRC100017	86	99	103	4	2.20	8.80
TYRC100018	30	35	46	11	1.06	11.62
TYRC100018	43	50	54	4	1.84	7.38
TYRC100019	64	74	80	6	1.02	6.13
TYRC100021	81	93	97	4	0.51	2.03
TYRC100025	21	24	26	2	8.21	16.41
TYRC100026	62	72	78	6	1.84	11.04
TYRC100028	31	36	43	7	13.17	92.22
TYRC100029	62	72	90	18	2.11	37.92
TYRC100030	26	30	33	3	0.74	2.23
TYRC100030	35	40	43	3	1.06	3.17
TYRC100030	47	54	59	5	0.96	4.81
TYRC100030	61	71	89	18	4.52	81.44
Intercept based on a 0.5g/t cut offgrade with upto 3 metres of included sub-grade

6

JORC Code, 2012 Edition - Tethys Drilling Results

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria		JORC Code explanation		Commentary
Sampling	•	Nature and quality of sampling (eg cut	•	ABM has used Reverse Circulation (RC)
techniques		channels, random chips, or specific specialised		drilling techniques to obtain 1m samples.
		industry standard measurement tools	•	RC samples were split into calico bags using
		appropriate to the minerals under investigation,		a cone splitter at 1m intervals to produce
		such as down hole gamma sondes, or handheld		nominal 2.5kg samples. The 2.5km samples
		XRF instruments, etc). These examples should		were pulverised by the lab to produce a 50g
	•	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.	•	charge for fire assay, with the remainder left on site for logging purposes by ABM geologists. The cone splitter was cleaned out at 6m intervals and thoroughly at the end of each hole to ensure appropriate sample representivity.
	•	Aspects of the determination of mineralisation	•	Bag sequence is checked regularly by field
		that are Material to the Public Report.		staff and supervising geologists.
	•	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	•	ABM RC drilling was undertaken with a
techniques		hammer, rotary air blast, auger, Bangka, sonic,		Schramm 685. This rig has a depth capability
		etc) and details (eg core diameter, triple or		of approximately 600m, using a 1000psi,
		standard tube, depth of diamond tails, face-		1350cfm Sullair compressor and auxiliary
		sampling bit or other type, whether core is		booster. Holes were drilled with 5 5/8”
		oriented and if so, by what method, etc).		diameter bit.
			•	Historic drilling was RAB, RC, or diamond.
				Specifics of drilling techniques are unknown,
				except diamond drilling was NQ.
Drill sample	•	Method of recording and assessing core and	•	All ABM RC samples were taken using a
recovery	•	chip sample recoveries and results assessed. Measures taken to maximise sample recovery and ensure representative nature of the		12.5:1 Sandvik static cone splitter mounted under a polyurethane cyclone. Samples were split into calico bags and sent to the lab for assay; the remainder sample material
		samples.		remaining on site. Size of the sample was
	•	Whether a relationship exists between sample		monitored at the drill site by the responsible
		recovery and grade and whether sample bias may have occurred due to preferential loss/gain		geologist to ensure adequate recovery. No relationship between sample recovery and grade is apparent.
		of fine/coarse material.	•	With recoveries over 90% sample bias is
				unlikely due to preferential loss/gain of
				fine/coarse material occurring.
			•	For the current program, which has been
				undertaken for the purpose of exploration,
				the variation in sample size is not seen as
				significant.
Logging	•	Whether core and chip samples have been	•	ABM drilling samples were geologically
		geologically and geotechnically logged to a level		logged at the drill rig by a geologist using a
		of detail to support appropriate Mineral		laptop with Maxwell Logchief data capture
		Resource estimation, mining studies and		system. Data on lithology, weathering,
				alteration, ore mineral content and style of

7

Criteria		JORC Code explanation		Commentary
		metallurgical studies.		mineralisation, and quartz content and style
	•	Whether logging is qualitative or quantitative in		of quartz were collected.
		nature. Core (or costean, channel, etc)	•	Logging is both qualitative and quantitative.
		photography.		Lithological factors, such as the degree of
	•	The total length and percentage of the relevant		weathering and strength of alteration are
		intersections logged.		logged in a qualitative fashion. The presence of quartz veining, the ratios of
				multiple lithologies in a single sample and
				minerals of economic importance are logged
				in aquantitative manner.
Sub-	•	If core, whether cut or sawn and whether	•	RC samples were split with a 12.5:1 Sandvik
sampling techniques and sample preparation	•	quarter, half or all core taken. If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.	• •	static cone splitter mounted under a polyurethane cyclone. All intervals were sampled dry. Field duplicates were taken every 50 samples. A blank or standard was inserted
	•	For all sample types, the nature, quality and		every 50 samples. For drill samples, blank
		appropriateness of the sample preparation		material was sourced from a quarry in Alice
		technique.		Springs – this material matches that used as
	•	Quality control procedures adopted for all sub-		a flush material by ALS in Alice Springs.
		sampling stages to maximise representivity of		Three certified standards acquired from
		samples.		GeoStats Pty. Ltd., with different gold grade
	•	Measures taken to ensure that the sampling is		and lithology, were also used.
		representative of the in situ material collected,	•	Upon receipt by the laboratory samples were
	•	including for instance results for field duplicate/second-half sampling. Whether sample sizes are appropriate to the grain size of the material being sampled.		logged, weighed, and dried if wet. Samples were then crushed to 2mm (70% pass), then split using a riffle splitter, with 250g crushed to 75 µm (85% pass). 50g charges were then fire assayed.
Quality of	•	The nature, quality and appropriateness of the	•	All samples have been analysed for gold by
assay data		assaying and laboratory procedures used and		ALS Minerals.
and		whether the technique is considered partial or	•	For low detection, ABM use AU-ICP22,
laboratory		total.		which is an inductively coupled plasma
tests	•	For geophysical tools, spectrometers, handheld		atomic emission spectroscopy technique,
		XRF instruments, etc, the parameters used in		using a 50g sample charge with a lower
	•	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	•	detection limit of 0.001ppm Au and an upper limit of 10ppm Au. Where higher grades are expected, or where >10ppm Au is reported from AU-ICP22 analysis, samples are assayed by AU-AA26, which is a fire-assay technique with an atomic absorption spectroscopy (AAS)
		levels of accuracy (ie lack of bias) and precision		finish, using a 50g sample charge. The lower
		have been established.		detection limit is 0.01ppm, and the upper
				detection limit is 100ppm Au. Where results
				exceed 100ppm Au, gold is determined by
				over-dilution with an AAS finish.
			•	In addition to standards and blanks
				previously discussed, ALS conducted
				internal lab checks using standards, blanks.
				Standards and blanks returned within
				acceptable limits, and field duplicates
				showedgood correlation.
Verification	•	The verification of significant intersections by	•	Significant intersections were calculated
of sampling		either independent or alternative company		independently by both a project geologist
and		personnel.		and senior exploration staff.
assaying	•	The use of twinned holes.	•	The drilling being reported is exploratory in
	•	Documentation of primary data, data entry		nature. As such, none of the holes have
		procedures, data verification, data storage (physical and electronic) protocols.		been twinned in the current program. Where results warrant, follow-up drilling will be

8

Criteria		JORC Code explanation		Commentary
	•	Discuss any adjustment to assay data.		completed.
			•	For drilling data, ABM uses the Maxwell Data
				Schema (MDS) version 4.5.1. The interface
				to the MDS used is DataShed version 4.5
				and SQL 2008 R2 (the MDS is compatible
				with SQL 2008-2012 – most recent industry
				versions used). This interface integrates with
				LogChief and QAQCReporter 2.2, as the
				primary choice of data capture and assay
				quality control software. DataShed is a
				system that captures data and metadata
				from various sources, storing the information
				to preserve the value of the data and
				increasing the value through integration with
				GIS systems. Security is set through both
				SQL and the DataShed configuration
				software. ABM has two Database
				Administrators and an external contractor
				with expertise in programming and SQL
				database administration. Access to the
				database by the geoscience staff is
				controlled through security groups where
				they can export and import data with the
				interface providing full audit trails. Assay
				data is provided in MaxGEO format from the
				laboratories and imported by the Database
				Administrator. The database assay
				management system records all metadata
				within the MDS and this interface provides
				full audit trails to meet industry bestpractice.
Location of	•	Accuracy and quality of surveys used to locate	•	Hole collars were laid out with Handheld
data points		drill holes (collar and down-hole surveys),		GPS, providing accuracy of ± 5m. Drilled
		trenches, mine workings and other locations		hole locations vary from ‘design’ by as much
		used in Mineral Resource estimation.		as 10m (locally) due to constraints on access
	•	Specification of the grid system used.		clearing. This degree of variation is deemed
	•	Quality and adequacy of topographic control.	•	acceptable for exploration drilling. Final hole locations will be determined at the
				completion of the program using DGPS
				where practicable. Where DGPS cannot be
				used, collar positions will be collected with a
				handheld GPS using waypoint averaging for
				greater accuracy than conventional GPS
				points.
			•	The projection used is GDA94, using MGA
				coordinates in Zone 52.
			•	Down hole surveys that recorded dip and
				azimuth have been completed in all drill
				holes using a Reflex EZ-Trac multi-shot
				camera tool. Surveys are taken every 30m
				and at the end of holeposition.
Data	•	Data spacing for reporting of Exploration	•	Current drilling infills the key target area to
spacing		Results.		50m spaced lines, with holes spacings of
and	•	Whether the data spacing and distribution is		around 25m. Easternmost drill lines were
distribution		sufficient to establish the degree of geological		designed as a presence test only, with a line
		and grade continuity appropriate for the		spacing of 100m and holes approximately
		Mineral Resource and Ore Reserve estimation		50m apart.
	•	procedure(s) and classifications applied. Whether sample compositing has been applied.	• •	Sample spacing is sufficient to provide geologic and grade continuity. No sample compositing was applied at
				Tethys.

9

Criteria		JORC Code explanation		Commentary
Orientation	•	Whether the orientation of sampling achieves	•	Tethys is hosted in a shear zone with strong
of data in		unbiased sampling of possible structures and		adjacent alteration. The structural zone and
relation to		the extent to which this is known, considering		associated mineralisation trends ESE –
geological		the deposit type.		WNW and dips to the south at ~75º. The
structure	•	If the relationship between the drilling		drilling intersection to the north therefore
		orientation and the orientation of key mineralised structures is considered to have		eliminates potential bias and intersects mineralisation at across the zone and not
		introduced a sampling bias, this should be		down the zone.
		assessed and reported if material.
Sample	•	The measures taken to ensure sample security.	•	Samples were transported daily by ABM
security				personnel from the drill locations to the
				Central Tanami mine site, where twice
				weekly they were loaded onto a courier truck,
				and taken to the secure preparation facility in
				Alice Springs. The preparation facilities use
				the laboratory’s standard chain of custody
				procedure.
Audits or	•	The results of any audits or reviews of sampling	•	ABM has conducted several audits of ALS’s
reviews		techniques and data.		Perth and Alice Springs laboratory facilities
				and found no faults.
			•	QA/QC review of laboratory results is
				ongoing as results are finalized. ABM has
				also conducted annual reviews at the end of
				every calendar year, and found no significant
				statistical outliers.

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria		JORC Code explanation		Commentary
Mineral	•	Type, reference name/number, location and	•	Tethys is located on EL 9250 in the
tenement and		ownership including agreements or material		Northern Territory. The tenement is wholly
land tenure		issues with third parties such as joint ventures,		owned by ABM, and subject to the
status		partnerships, overriding royalties, native title		‘Granites’ agreement between ABM and the
		interests, historical sites, wilderness or		Traditional Owners via Central Land
	•	national park and environmental settings. The security of the tenure held at the time of		Council (CLC). The Exploration Lease transferred to ABM in December 2009.
		reporting along with any known impediments
		to obtaining a licence to operate in the area.
Exploration	•	Acknowledgment and appraisal of exploration	•	The target area was first recognised in this
done by other		by other parties.		district by surface geochemistry and
parties				shallow lines of RAB drilling in the late
				1990s by Otter Gold NL. North Flinders,
				Normandy NFM and Newmont Asia Pacific
				subsequently all conducted exploratory
				work on the project with the last recorded
				drilling (prior to ABM) completed in 2005.
				Previous exploration work provided the
				foundation on which ABM based its
				exploration strategy.
Geology	•	Deposit type, geological setting and style of	•	Geology at Tethys consists basalt and
		mineralisation.		occasional steeply dipping sedimentary
				rocks (sandstone and shale); in places
				intruded by granite dykes.
			•	Mineralisation is disseminated and coarse
				gold within a shear zone in the proximity of
				a larger granite intrusion into a sequence of
				N-S trending mafic units.

10

Criteria		JORC Code explanation		Commentary
Drill hole	•	A summary of all information material to the	•	Summaries of all material drill holes are
Information		understanding of the exploration results		available within the Company’s ASX
		including a tabulation of the following		releases.
		information for all Material drill holes:
		o easting and northing of the drill hole collar
		o elevation or RL (Reduced Level – elevation
		above sea level in metres) of the drill hole
		collar
		o dip and azimuth of the hole
		o down hole length and interception depth
		o 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.
Data	•	In reporting Exploration Results, weighting	•	ABM does not use weighted averaging
aggregation		averaging techniques, maximum and/or		techniques or grade truncations for
methods		minimum grade truncations (eg cutting of high		reporting of exploration results.
		grades) and cut-off grades are usually Material	•	ABM reports significant intercept values
		and should be stated.		above 0.5g/t Au. The 0.5g/t Au is an
	•	Where aggregate intercepts incorporate short		average of all continuous values which
		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.		collectively average greater than 0.5g/t Au, with no more than 3 continuous values below this cut-off. The 1.0g/t Au cut-off is an average of all continuous values which collectively average greater than 1.0g/t Au, with no more than 2 continuous values
	•	The assumptions used for any reporting of		below this cut-off.
		metal equivalent values should be clearly
		stated.
Relationship	•	These relationships are particularly important	•	The majority of drilling is percussion or
between		in the reporting of Exploration Results.		rotary, and thus the exact geometry of the
mineralisation	•	If the geometry of the mineralisation with		mineralisation with respect to drill angle
widths and		respect to the drill hole angle is known, its		cannot be determined.
intercept		nature should be reported.	•	From surface mapping and previous drilling
lengths	•	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’).		in the district, host lithologies and mineralisation are most commonly steeply dipping (between 60 and 80 degrees). Where sufficient outcrop exists to inform planning, drill holes are angled so as to drill
				as close to perpendicular to mineralisation
				as possible.
			•	Intercepts reported are down hole length,
				true width is not known.
Diagrams	•	Appropriate maps and sections (with scales)	•	Maps and tables are located within the
		and tabulations of intercepts should be		report or associated appendices, and
		included for any significant discovery being		released with all exploration results.
		reported These should include, but not be
		limited to a plan view of drill hole collar
		locations and appropriate sectional views.
Balanced	•	Where comprehensive reporting of all	•	The Company reports all assays as they are
reporting		Exploration Results is not practicable,		finalised by the laboratory and compiled
		representative reporting of both low and high		into geological context.
		grades and/or widths should be practiced to
		avoid misleading reporting of Exploration
		Results.

11

Criteria		JORC Code explanation			Commentary	Commentary
Other	•	Other exploration data, if meaningful and	•	The Company reports all			other relevant
substantive		material, should be reported including (but not		exploration results.
exploration		limited to): geological observations;
data		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.
Further work	•	The nature and scale of planned further work	•	Following	receipt	of	assays,	and
		(eg tests for lateral extensions or depth		interpretation of results, ABM will				plan
		extensions or large-scale step-out drilling).		follow-up work to verify		those results and to
	•	Diagrams clearly highlighting the areas of		infill and extend as required.
		possible extensions, including the main
		geological interpretations and future drilling
		areas, provided this information is not
		commercially sensitive.

12