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RAIDEN RESOURCES LIMITED Regulatory Filings 2021

Aug 1, 2021

65675_rns_2021-08-01_5ef779da-faba-4223-9ac1-1d8be62c9256.pdf

Regulatory Filings

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HIGH GRADE GOLD ANOMALIES DEFINED AT BOODALYERRIE

HIGHLIGHTS

Soil and rock sampling campaign at Raiden's Boodalyerrie property in the Pilbara region of Western Australia defines new prospects and returns bonanza-grade gold results. Visible gold is common in dumps adjacent to historic test pits, selective samples returned up to 253g/t Au. Several soil gold trends have been identified over strike lengths exceeding one kilometre, soil assay results range up to 3g/t Au.

Rock sampling:

  • Observed visible gold in historic test pits
  • Waste dump and rock samples returned results including 253g/t, 195g/t, 62g/t and 48g/t Au.

Soil sampling:

  • 2013 soil sampling results and anomalies confirmed and extended
  • Delineated several gold trends over substantial strike lengths.
  • Peak gold result of 3,036ppb Au with numerous samples returning values in excess of 100ppb Au.

Raiden Resources Limited (ASX: RDN) ("Raiden" or "the Company") is pleased to announce the results of a soil and rock sampling program at the Boodalyerrie property in the Pilbara region of Western Australia.

Mr Dusko Ljubojevic, Managing Director of Raiden commented:

"Our early campaigns across the Pilbara portfolio have been very successful in not only advancing our understanding of recently acquired properties, but in most cases the work has generated more prospects and targets. All this has been achieved in a relatively short

QUICK STATS

ASX Code: RDN DAX Code: YM4

BOARD & MANAGEMENT

Non- Executive Chairman Mr Michael Davy

Managing Director Mr Dusko Ljubojevic

Non-Executive Director Mr Martin Pawlitschek

Non-Executive Director Mr Dale Ginn

Company Secretary Ms Kyla Garic

ASSET PORTFOLIO

SERBIA

Cu, Co & Au (~269km2 )

BULGARIA

Cu, Au & Ag (~409km2 )

AUSTRALIA Au, Cu, Ni & PGE (~823km2

amount of time, including on the Boodalyerrie project, but across the Arrow, Mt Sholl and Yandicoogina projects as well. The portfolio now represents a multi project and multi commodity opportunity for Raiden to make a significant discovery"

Work Program

Soil sampling at Boodalyerrie in 2013 defined widespread +25ppb gold anomalies, the most significant of which strikes over 2 kilometres and is several hundred metres wide. To confirm and expand on the historical work, Raiden collected grid-based soil samples across the largest of the historic anomalies to provide insight into the nature of mineralisation and understand the potential extents of mineralised structures.

Soil samples were collected at 50 metre centres along east-west oriented lines spaced 200 metres apart. A total of 335 primary samples were collected, with 37 QA/QC samples (field duplicates and analytical standards) included. Samples were assayed at Intertek in Maddington for gold and a multielement suite by aqua regia digest with ICP finish. Several north-south striking gold trends have been defined within a larger anomalous envelope that remains open to the north. A number of samples returned +100ppb Au, peaking at 3g/t Au.

A total of 33 rock samples were also collected from historic workings and prospective outcrops. Samples were assayed at Intertek in Maddington for gold by fire assay with an ICP finish and a multielement suite by four acid digest with ICP finish. Small historic workings expose quartz veins which commonly host visible gold. Chip and dump samples from some of the workings returned gold values up to 253g/t Au and 215g/t Ag. Rock sample Au and Ag results are listed in table 2; figure 1 shows soil and rock sample locations.

About Boodalyerrie

Boodalyerrie hosts a large area of hydrothermal alteration within the Yilgalong Granitoid, associated with a suite of prominent quartz veins. Historical exploration has been limited to surface sampling programs - stream sediment, soil and rock.

Raiden holds a 100% interest in the Boodalyerrie property, which consists of one granted exploration licence covering 57km2 (figure 2). Boodalyerrie is located 120 kilometres east-southeast of Marble Bar and 75 kilometres northeast of Nullagine (figure 3). The licence covers much of the Boodalyerrie Mining Centre, which has recorded production from 1901 to 1910 of 588.4 ounces gold from 122 tonnes of ore at a reconciled average grade of 150g/t Au.

Future Work

The Company plans to conduct further detailed geological mapping with the objective to define the geochemical anomalies in more detail; understand key features which act on gold mineralisation and define drill targets.

Figure 1: Boodalyerrie geology, sample locations and results

Figure 2: Pilbara Gold Corporation Project Portfolio

Figure 3 – location of the Boodalyerrie project in regard to other deposits and towns in the district

Sample Type Fraction East North Au ppb Au ppb Rp1 Au ppb Rp 2
RB0001 soil -2mm 272549 7613802 9
RB0002 soil -2mm 272597 7613797 7
RB0003 soil -2mm 272650 7613800 2
RB0004 soil -2mm 272698 7613806 6
RB0005 soil -2mm 272751 7613799 3
RB0006 soil -2mm 272798 7613798 4
RB0007 soil -2mm 272851 7613798 6
RB0008 soil -2mm 272902 7613799 3
RB0009 soil -2mm 272946 7613803 196
RB0010 soil -2mm 272500 7613999 7
RB0012 soil -2mm 272551 7613999 5
RB0013 soil -2mm 272601 7614003 15
RB0014 soil -2mm 272647 7614000 6
RB0015 soil -2mm 272699 7614003 27
RB0016 soil -2mm 272749 7613999 4
RB0017 soil -2mm 272800 7613999 4
RB0018 soil -2mm 272848 7613997 4
RB0019 soil -2mm 272906 7614000 7
RB0021 soil -2mm 272951 7614001 4
RB0022 soil -2mm 273001 7614002 2
RB0023 soil -2mm 273049 7614000 2
RB0024 soil -2mm 273101 7614000 3
RB0025 soil -2mm 272504 7614203 4
RB0026 soil -2mm 272549 7614202 2
RB0027 soil -2mm 272598 7614203 3
RB0028 soil -2mm 272645 7614203 8
RB0029 soil -2mm 272700 7614206 3036
RB0030 soil -2mm 272750 7614202 7
RB0032 soil -2mm 272799 7614202 4
RB0033 soil -2mm 272848 7614202 3
RB0034 soil -2mm 272899 7614201 4
RB0035 soil -2mm 272950 7614204 6
RB0036 soil -2mm 273001 7614201 16
RB0037 soil -2mm 273048 7614203 4
RB0038 soil -2mm 273102 7614204 3
RB0039 soil -2mm 273149 7614205 14
RB0041 soil -2mm 273201 7614205 3
RB0042 soil -2mm 273250 7614205 4
RB0043 soil -2mm 273299 7614203 6
RB0044 soil -2mm 273352 7614207 10
RB0045 soil -2mm 272301 7614403 20

Table 1: Primary soil sample results

Sample Type Fraction East North Au ppb Au ppb Rp1 Au ppb Rp 2
RB0046 soil -2mm 272353 7614403 3
RB0047 soil -2mm 272407 7614403 14
RB0048 soil -2mm 272449 7614401 68
RB0049 soil -2mm 272500 7614403 5
RB0050 soil -2mm 272549 7614401 10
RB0052 soil -2mm 272600 7614392 20
RB0053 soil -2mm 272651 7614403 13
RB0054 soil -2mm 272702 7614401 16
RB0055 soil -2mm 272750 7614403 9
RB0056 soil -2mm 272800 7614404 10
RB0057 soil -2mm 272853 7614406 18
RB0058 soil -2mm 272895 7614397 11
RB0059 soil -2mm 272949 7614403 9
RB0061 soil -2mm 273000 7614403 6
RB0062 soil -2mm 273047 7614401 3
RB0063 soil -2mm 273099 7614405 1
RB0064 soil -2mm 273152 7614409 1
RB0065 soil -2mm 273200 7614404 2
RB0066 soil -2mm 273250 7614401 7
RB0067 soil -2mm 273301 7614402 4
RB0068 soil -2mm 273349 7614403 4
RB0069 soil -2mm 273398 7614402 3
RB0070 soil -2mm 273452 7614406 1
RB0072 soil -2mm 272099 7614604 6
RB0073 soil -2mm 272151 7614603 7
RB0074 soil -2mm 272198 7614602 4
RB0075 soil -2mm 272248 7614606 12
RB0076 soil -2mm 272298 7614603 8
RB0077 soil -2mm 272348 7614602 1
RB0078 soil -2mm 272400 7614603 X
RB0079 soil -2mm 272453 7614602 2
RB0081 soil -2mm 272500 7614601 4
RB0082 soil -2mm 272550 7614602 2
RB0083 soil -2mm 272598 7614602 1
RB0084 soil -2mm 272649 7614605 14
RB0085 soil -2mm 272701 7614603 10
RB0086 soil -2mm 272749 7614602 2
RB0087 soil -2mm 272801 7614593 6
RB0088 soil -2mm 272849 7614603 6
RB0089 soil -2mm 272902 7614602 4
RB0090 soil -2mm 272948 7614603 2
RB0092 soil -2mm 272998 7614603 X
RB0093 soil -2mm 273052 7614605 4

Sample Type Fraction East North Au ppb Au ppb Rp1 Au ppb Rp 2
RB0094 soil -2mm 273101 7614601 X
RB0095 soil -2mm 273152 7614602 1
RB0096 soil -2mm 273201 7614602 1
RB0097 soil -2mm 273249 7614600 X
RB0098 soil -2mm 273299 7614602 2
RB0099 soil -2mm 273349 7614603 X
RB0101 soil -2mm 273401 7614602 2
RB0102 soil -2mm 273449 7614604 2
RB0103 soil -2mm 273501 7614602 6
RB0104 soil -2mm 273549 7614605 5
RB0105 soil -2mm 273601 7614596 2
RB0106 soil -2mm 272499 7614801 2
RB0107 soil -2mm 272549 7614804 17
RB0108 soil -2mm 272600 7614802 69
RB0109 soil -2mm 272651 7614804 12
RB0110 soil -2mm 272698 7614803 1
RB0112 soil -2mm 272752 7614804 X
RB0113 soil -2mm 272805 7614806 3
RB0114 soil -2mm 272850 7614800 2
RB0115 soil -2mm 272900 7614801 18
RB0116 soil -2mm 272952 7614800 2
RB0117 soil -2mm 272996 7614799 3
RB0118 soil -2mm 273049 7614802 X
RB0119 soil -2mm 273100 7614802 X
RB0121 soil -2mm 273154 7614802 1
RB0122 soil -2mm 273198 7614804 2
RB0123 soil -2mm 273250 7614802 1
RB0124 soil -2mm 273299 7614805 2
RB0125 soil -2mm 273351 7614802 X
RB0126 soil -2mm 273398 7614802 X
RB0127 soil -2mm 273450 7614803 2
RB0128 soil -2mm 273498 7614800 4
RB0129 soil -2mm 273551 7614803 4
RB0130 soil -2mm 273604 7614800 6
RB0132 soil -2mm 273650 7614801 9
RB0133 soil -2mm 272498 7615002 X
RB0134 soil -2mm 272556 7615004 2
RB0135 soil -2mm 272598 7615004 1
RB0136 soil -2mm 272648 7615002 2
RB0137 soil -2mm 272698 7615002 1
RB0138 soil -2mm 272749 7615003 2
RB0139 soil -2mm 272802 7615005 6
RB0141 soil -2mm 272849 7615003 1

Sample Type Fraction East North Au ppb Au ppb Rp1 Au ppb Rp 2
RB0142 soil -2mm 272900 7615004 6
RB0143 soil -2mm 272949 7615002 2
RB0144 soil -2mm 273001 7615002 2
RB0145 soil -2mm 273049 7615006 2
RB0146 soil -2mm 273099 7615002 2
RB0147 soil -2mm 273149 7615001 1
RB0148 soil -2mm 273202 7615002 3
RB0149 soil -2mm 273251 7615003 X
RB0150 soil -2mm 273300 7615001 2
RB0152 soil -2mm 273349 7615001 1
RB0153 soil -2mm 273399 7615002 4
RB0154 soil -2mm 273447 7615003 3
RB0155 soil -2mm 273498 7615003 2
RB0156 soil -2mm 273551 7615003 5
RB0157 soil -2mm 273601 7615004 3
RB0158 soil -2mm 273644 7615003 5
RB0159 soil -2mm 272503 7615197 X
RB0161 soil -2mm 272551 7615201 5
RB0162 soil -2mm 272600 7615201 3
RB0163 soil -2mm 272648 7615200 2
RB0164 soil -2mm 272698 7615202 22
RB0165 soil -2mm 272749 7615200 7
RB0166 soil -2mm 272796 7615196 3
RB0167 soil -2mm 272851 7615202 6
RB0168 soil -2mm 272899 7615200 13
RB0169 soil -2mm 272949 7615201 4
RB0170 soil -2mm 273003 7615199 4
RB0172 soil -2mm 273048 7615200 6
RB0173 soil -2mm 273100 7615198 4
RB0174 soil -2mm 273149 7615199 4
RB0175 soil -2mm 273199 7615201 4
RB0176 soil -2mm 273246 7615201 3
RB0177 soil -2mm 273301 7615201 4
RB0178 soil -2mm 273347 7615200 10
RB0179 soil -2mm 273399 7615201 4
RB0181 soil -2mm 273451 7615202 5
RB0182 soil -2mm 273500 7615202 8
RB0183 soil -2mm 273549 7615201 23
RB0184 soil -2mm 273596 7615196 7
RB0185 soil -2mm 272498 7615398 4
RB0186 soil -2mm 272547 7615400 8
RB0187 soil -2mm 272596 7615400 7
RB0188 soil -2mm 272648 7615402 5

Sample Type Fraction East North Au ppb Au ppb Rp1 Au ppb Rp 2
RB0189 soil -2mm 272699 7615401 5
RB0190 soil -2mm 272747 7615399 5
RB0192 soil -2mm 272798 7615400 5
RB0193 soil -2mm 272849 7615398 29
RB0194 soil -2mm 272898 7615401 7
RB0195 soil -2mm 272949 7615398 7
RB0196 soil -2mm 272999 7615400 5
RB0197 soil -2mm 273048 7615401 4
RB0198 soil -2mm 273100 7615399 8
RB0199 soil -2mm 273150 7615400 32
RB0201 soil -2mm 273197 7615400 4
RB0202 soil -2mm 273250 7615402 10
RB0203 soil -2mm 273301 7615401 5
RB0204 soil -2mm 273349 7615400 6
RB0205 soil -2mm 273398 7615399 5
RB0206 soil -2mm 273448 7615400 8
RB0207 soil -2mm 273505 7615400 13
RB0208 soil -2mm 273552 7615399 9
RB0209 soil -2mm 273600 7615400 6
RB0210 soil -2mm 272502 7615597 9
RB0212 soil -2mm 272548 7615600 5
RB0213 soil -2mm 272600 7615600 8
RB0214 soil -2mm 272648 7615598 4
RB0215 soil -2mm 272695 7615600 15
RB0216 soil -2mm 272745 7615602 5
RB0217 soil -2mm 272799 7615600 8
RB0218 soil -2mm 272847 7615599 25
RB0219 soil -2mm 272897 7615598 38
RB0221 soil -2mm 272948 7615597 6
RB0222 soil -2mm 272999 7615598 2
RB0223 soil -2mm 273050 7615598 2
RB0224 soil -2mm 273098 7615599 10
RB0225 soil -2mm 273149 7615598 2
RB0226 soil -2mm 273199 7615600 69
RB0227 soil -2mm 273248 7615599 91
RB0228 soil -2mm 273300 7615594 8
RB0229 soil -2mm 273349 7615595 38
RB0230 soil -2mm 273398 7615599 6
RB0232 soil -2mm 273448 7615599 9
RB0233 soil -2mm 273502 7615600 5
RB0234 soil -2mm 273550 7615600 2
RB0235 soil -2mm 273600 7615598 4
RB0236 soil -2mm 272504 7615806 10

Sample Type Fraction East North Au ppb Au ppb Rp1 Au ppb Rp 2
RB0237 soil -2mm 272551 7615801 10
RB0238 soil -2mm 272601 7615801 134
RB0239 soil -2mm 272649 7615800 41
RB0241 soil -2mm 272701 7615800 299 185
RB0242 soil -2mm 272749 7615801 387 165 826
RB0243 soil -2mm 272800 7615800 109 129
RB0244 soil -2mm 272851 7615800 114 120
RB0245 soil -2mm 272898 7615802 36
RB0246 soil -2mm 272951 7615801 12
RB0247 soil -2mm 273001 7615805 70
RB0248 soil -2mm 273049 7615800 17
RB0249 soil -2mm 273102 7615801 6
RB0250 soil -2mm 273148 7615801 8
RB0252 soil -2mm 273201 7615802 7
RB0253 soil -2mm 273252 7615800 16
RB0254 soil -2mm 273300 7615801 4
RB0255 soil -2mm 273351 7615799 5
RB0256 soil -2mm 273397 7615789 3
RB0257 soil -2mm 273450 7615802 5
RB0258 soil -2mm 273498 7615802 3
RB0259 soil -2mm 272500 7616001 7
RB0261 soil -2mm 272548 7616001 4
RB0262 soil -2mm 272602 7616007 5
RB0263 soil -2mm 272650 7616002 11
RB0264 soil -2mm 272699 7616001 66
RB0265 soil -2mm 272748 7616001 9
RB0266 soil -2mm 272798 7616003 44
RB0267 soil -2mm 272847 7616001 125
RB0268 soil -2mm 272900 7616001 30
RB0269 soil -2mm 272950 7616001 73
RB0270 soil -2mm 272999 7616000 72
RB0272 soil -2mm 273051 7616001 23
RB0273 soil -2mm 273097 7616003 46
RB0274 soil -2mm 273149 7616000 44
RB0275 soil -2mm 273200 7616002 64
RB0276 soil -2mm 273250 7616002 37
RB0277 soil -2mm 273302 7616001 292
RB0278 soil -2mm 273350 7616006 6
RB0279 soil -2mm 273401 7615998 4
RB0281 soil -2mm 273450 7616003 4
RB0282 soil -2mm 273500 7616000 3
RB0283 soil -2mm 272503 7616198 13
RB0284 soil -2mm 272554 7616197 3

Sample Type Fraction East North Au ppb Au ppb Rp1 Au ppb Rp 2
RB0285 soil -2mm 272604 7616200 3
RB0286 soil -2mm 272650 7616203 8
RB0287 soil -2mm 272702 7616199 56
RB0288 soil -2mm 272753 7616198 1
RB0289 soil -2mm 272802 7616205 8
RB0290 soil -2mm 272853 7616199 20
RB0292 soil -2mm 272902 7616200 72
RB0293 soil -2mm 272954 7616201 35
RB0294 soil -2mm 273005 7616198 13
RB0295 soil -2mm 273052 7616199 26
RB0296 soil -2mm 273104 7616202 27
RB0297 soil -2mm 273154 7616201 297
RB0298 soil -2mm 273204 7616200 128
RB0299 soil -2mm 273250 7616199 35
RB0301 soil -2mm 273300 7616202 11
RB0302 soil -2mm 272452 7616403 3
RB0303 soil -2mm 272498 7616413 6
RB0304 soil -2mm 272547 7616434 12
RB0305 soil -2mm 272600 7616402 12
RB0306 soil -2mm 272652 7616398 6
RB0307 soil -2mm 272701 7616397 7
RB0308 soil -2mm 272751 7616397 3
RB0309 soil -2mm 272806 7616400 6
RB0310 soil -2mm 272851 7616400 5
RB0312 soil -2mm 272900 7616399 19
RB0313 soil -2mm 272951 7616400 29
RB0314 soil -2mm 273000 7616398 29
RB0315 soil -2mm 273052 7616397 54
RB0316 soil -2mm 273103 7616399 480
RB0317 soil -2mm 273150 7616402 63
RB0318 soil -2mm 273203 7616401 25
RB0319 soil -2mm 273254 7616401 9
RB0321 soil -2mm 273297 7616399 X
RB0322 soil -2mm 272402 7616602 1
RB0323 soil -2mm 272451 7616602 8
RB0324 soil -2mm 272500 7616604 5
RB0325 soil -2mm 272551 7616601 16
RB0326 soil -2mm 272602 7616603 10
RB0327 soil -2mm 272648 7616600 8
RB0328 soil -2mm 272699 7616604 7
RB0329 soil -2mm 272747 7616606 69
RB0330 soil -2mm 272799 7616603 7
RB0332 soil -2mm 272848 7616600 29

Sample Type Fraction East North Au ppb Au ppb Rp1 Au ppb Rp 2
RB0333 soil -2mm 272898 7616601 32
RB0334 soil -2mm 272967 7616604 26
RB0335 soil -2mm 273001 7616604 23
RB0336 soil -2mm 273047 7616600 17
RB0337 soil -2mm 273099 7616599 236
RB0338 soil -2mm 273150 7616601 6
RB0339 soil -2mm 273198 7616601 13
RB0341 soil -2mm 273243 7616603 5
RB0342 soil -2mm 273301 7616606 31
RB0343 soil -2mm 272200 7616803 4
RB0344 soil -2mm 272250 7616811 10
RB0345 soil -2mm 272299 7616805 14
RB0346 soil -2mm 272350 7616801 21
RB0347 soil -2mm 272400 7616803 2
RB0348 soil -2mm 272447 7616803 3
RB0349 soil -2mm 272499 7616800 2
RB0350 soil -2mm 272548 7616801 28
RB0352 soil -2mm 272596 7616802 3
RB0353 soil -2mm 272651 7616802 2
RB0354 soil -2mm 272700 7616802 1
RB0355 soil -2mm 272748 7616803 1
RB0356 soil -2mm 272799 7616802 14
RB0357 soil -2mm 272849 7616800 20
RB0358 soil -2mm 272900 7616800 9
RB0359 soil -2mm 272947 7616805 7
RB0361 soil -2mm 272999 7616802 4
RB0362 soil -2mm 273049 7616802 53
RB0363 soil -2mm 273100 7616804 7
RB0364 soil -2mm 273151 7616818 6
RB0365 soil -2mm 273196 7616824 10
RB0366 soil -2mm 273249 7616803 3
RB0367 soil -2mm 273299 7616802 11
RB0368 soil -2mm 273351 7616832 21
RB0369 soil -2mm 273392 7616815 8
RB0370 soil -2mm 273450 7616827 14
RB0372 soil -2mm 273496 7616818 35

Table 2: Rock sample results

Sample East North Au ppm Au ppm Rp1 Ag ppm As ppm Cu ppm Pb ppm Zn ppm
RBR001 272804 7612956 X X X 152 15 74
RBR002 272631 7613964 0.011 2.4 12 11 63 36
RBR003 273096 7614200 0.018 X X 8 26 59
RBR004 273077 7614201 0.093 1 X 8 23 36
RBR005 272647 7614202 X X X 6 28 30
RBR006 272598 7614156 0.013 0.7 X 4 24 1
RBR007 272946 7614406 0.006 X 46 141 29 88
RBR008 272945 7614308 0.227 21.5 11 119 256 64
RBR009 272995 7614605 0.006 X X 14 12 10
RBR010 272600 7614603 X X X 8 17 27
RBR011 272446 7614599 0.057 24 X 3 18 5
RBR012 272733 7614807 0.039 3.6 364 47 537 208
RBR013 272900 7614805 0.01 1.1 20 5 23 25
RBR014 273007 7615201 0.012 1.5 X 103 16 13
RBR015 272606 7616488 48.629 17.3 18 12 62 8
RBR016 272606 7616488 0.367 X 14 7 10 27
RBR017 272507 7616717 62.483 48.1 62 15 128 8
RBR018 272547 7616993 0.242 X 53 19 38 61
RBR019 272058 7616158 0.145 0.9 13 27 84 24
RBR020 271979 7616182 20.609 10.4 53 123 155 37
RBR021 271983 7616197 12.24 6.1 138 17 21 29
RBR022 272345 7616301 253.592 263.672 215.3 121 52 540 42
RBR023 272583 7616305 4.809 4.8 44 50 29 12
RBR024 273516 7617341 0.431 X X 4 5 5
RBR025 273563 7617299 0.296 X 19 2 72 83
RBR026 273553 7617290 0.03 2.2 X 5 84 55
RBR027 274581 7617600 0.02 0.6 138 17 44 71
RBR028 271005 7616589 195.527 150.5 641 226 906 70
RBR029 271001 7616591 0.982 0.9 X 4 13 18
RBR030 270943 7616646 10.216 15.3 77 68 64 15
RBR031 270811 7613379 0.188 1.1 X 3 X 2
RBR032 271147 7613327 2.775 5.6 70 61 33 131
RBR033 271755 7613184 0.678 12.9 23 14 31 10

This ASX announcement has been authorised for release by the Board of Raiden Resources Limited.

FOR FURTHER INFORMATION PLEASE CONTACT

DUSKO LJUBOJEVIC Managing Director RAIDEN RESOURCES LIMITED [email protected] www.raidenresources.com.au

Competent Person's Statement

The information in this announcement that relates to exploration results is based on and fairly represents information and supporting documentation prepared by Mr Martin Pawlitschek, a competent person who is a member of the Australian Institute of Geoscientists (AIG). Mr Martin Pawlitschek employed by Raiden Resources Limited. Mr Martin Pawlitschek has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 edition of the JORC Code. Mr Martin Pawlitschek has provided his prior written consent as to the form and context in which the exploration results and the supporting information are presented in this announcement.

Disclaimer:

Forward-looking statements are statements that are not historical facts. Words such as "expect(s)", "feel(s)", "believe(s)", "will", "may", "anticipate(s)", "potential(s)"and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to statements regarding future production, resources or reserves and exploration results. All of such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include, but are not limited to: (i) those relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits and conclusions of economic evaluations, (ii) risks relating to possible variations in reserves, grade, planned mining dilution and ore loss, or recovery rates and changes in project parameters as plans continue to be refined, (iii) the potential for delays in exploration or development activities or the completion of feasibility studies, (iv) risks related to commodity price and foreign exchange rate fluctuations, (v) risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals or in the completion of development or construction activities, and (vi) other risks and uncertainties related to the Company's prospects, properties and business strategy. Investors are cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof, and the Company does not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.

About Raiden Resources

Raiden Resources Limited (ASX:RDN / DAX:YM4) is a dual listed base metal—gold focused exploration Company focused on the emerging prolific Tethyan metallogenic belt in Eastern Europe and has established a significant exploration footprint in Serbia and Bulgaria. More recently Raiden executed a transaction to purchase a highly prospective portfolio of gold, copper, nickel and PGE projects in the Pilbara region of Western Australia. Over the last 3 years, the Company has secured one of the largest project portfolios, considered prospective for porphyry and epithermal mineralisation in Eastern Europe. The Company has defined over 20 porphyry, epithermal and polymetallic

prospects over the course of 2019 and 2020, a number of which the Company plans to drill test in 2021 and through 2022.

Furthermore, initial work programs in the Pilbara are demonstrating the potential of the recently acquired portfolio and will lead to near term drilling. The Directors believe that the Company is well positioned to unlock value from this exploration portfolio and deliver a significant mineral discovery.

Table 3: JORC Code, 2012 Edition. Section 1.

Criteria JORC Code explanation Commentary
Samplingtechniques •Nature and quality of sampling (eg cutchannels, random chips, or specificspecialised industry standardmeasurement tools appropriate to theminerals under investigation, such asdown hole gamma sondes, or handheldXRF instruments, etc). These examplesshould not be taken as limiting the broadmeaning of sampling.•Include reference to measures taken toensure sample representivity and theappropriate calibration of anymeasurement tools or systems used.•Aspects of the determination ofmineralisation that are Material to thePublic Report.•In cases where 'industry standard' workhas been done this would be relativelysimple (eg 'reverse circulation drilling wasused to obtain 1 m samples from which 3kg was pulverised to produce a 30 gcharge for fire assay'). In other cases moreexplanation may be required, such aswhere there is coarse gold that hasinherent sampling problems. Unusualcommodities or mineralisation types (egsubmarine nodules) may warrantdisclosure of detailed information. •Soil and selective rock samples.•Soil samples collected at 50m intervalsalong east-west lines spaced 200m apartfrom a consistent depth of 15-25 cm andsieved to retain the -2 mm fraction.•Field duplicate soil samples were collectedat a ratio of 1 in 20.
Drillingtechniques •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). •Not applicable.
Drill samplerecovery •Method of recording and assessing coreand chip sample recoveries and resultsassessed.•Measures taken to maximise samplerecovery and ensure representative natureof the samples.•Whether a relationship exists betweensample recovery and grade and whethersample bias may have occurred due topreferential loss/gain of fine/coarsematerial. •Not applicable.
Logging •Whether core and chip samples have beengeologically and geotechnically logged to alevel of detail to support appropriateMineral Resource estimation, miningstudies and metallurgical studies.•Whether logging is qualitative orquantitative in nature. Core (or costean, •Qualitative regolith type and lithology wasrecorded for each soil sample.•Detailed descriptions were recorded forselective rock samples.

Criteria JORC Code explanation Commentary
channel, etc) photography.•The total length and percentage of therelevant intersections logged.
Sub-samplingtechniquesand 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 wetor dry.•For all sample types, the nature, qualityand appropriateness of the samplepreparation technique.•Quality control procedures adopted for allsub-sampling stages to maximiserepresentivity of samples.•Measures taken to ensure that thesampling is representative of the in situmaterial collected, including for instanceresults for field duplicate/second-halfsampling.•Whether sample sizes are appropriate tothe grain size of the material beingsampled. •The soil sample method was selectedbecause it has been used successfully ingold discoveries elsewhere in the Pilbara.•Fieldduplicateandinternalanalyticalstandards were included at a ratio of 1 in 20for each.•Results of internal QA/QC samples havebeen checked and show an acceptable levelof variability for the material sampled.
Quality ofassay dataandlaboratorytests •The nature, quality and appropriateness ofthe assaying and laboratory proceduresused and whether the technique isconsidered partial or total.•For geophysical tools, spectrometers,handheld XRF instruments, etc, theparameters used in determining theanalysis including 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. •Samplepreparationandanalysiswasconducted by Intertek in Maddington.•The techniques selected are consideredappropriate for the type of sample.•Laboratory QA/QC included repeat assaysand the analysis of blanks and analyticalstandards.•Results of laboratory QA/QC samples havebeen checked and show an acceptable levelof variability.
Verification ofsampling andassaying •The verification of significant intersectionsby either independent or alternativecompany personnel.•The use of twinned holes.•Documentation of primary data, data entryprocedures, data verification, data storage(physical and electronic) protocols.•Discuss any adjustment to assay data. •Field sample locations are recorded onhandheldGPSunits;thesedataaredownloadedandimportedintoExcelspreadsheets.•Lab results are mergedinto the Excelspreadsheets by a qualified geologist.•No adjustments are made to assay data.
Location ofdata points •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 used.•Quality and adequacy of topographiccontrol. •All samples were located on handheld GPSunits with 3-5 m accuracy.•Co-ordinates are provided in the GeocentricDatum of Australia (GDA94).

Criteria JORC Code explanation Commentary
Data spacinganddistribution •Data spacing for reporting of ExplorationResults.•Whether 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.•Whether sample compositing has beenapplied. •Soil samples were collected at 50m intervalsalong lines spaced 200m apart.•Currentreportingisforprogressiveexploration results and not for MineralResource or Ore Reserve estimation.•No compositing was applied.
Orientation ofdata inrelation togeologicalstructure •Whether 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 structures is considered tohave introduced a sampling bias, thisshould be assessed and reported ifmaterial. •East-west sample lines were planned to cutapproximately perpendicular to structuresthat control gold mineralisation on theproperty, which are oriented roughly northsouth.•No drilling was undertaken.
Samplesecurity •The measures taken to ensure samplesecurity. •Samples were packaged and transportedfrom site to the RGR Transport depot ineither Newman or Karratha by companyrepresentatives.•Packaged samples were loaded in to bulkabags on pallets by company personnel.•RGR delivered the pallets of samplesdirectly to Intertek in Maddington.
Audits orreviews •The results of any audits or reviews ofsampling techniques and data. •No reviews or audits have been undertaken.

Table 4: JORC Code, 2012 Edition. Section 2.

Criteria JORC Code explanation Commentary
Mineraltenement andland tenurestatus •Type, reference name/number, locationand ownership including agreements ormaterial issues with third parties such 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 knownimpediments to obtaining a licence tooperate in the area. •Boodalyerrie licence E45/3586 is located inthe Shire of East Pilbara in the Pilbararegion of Western Australia.•E45/3586 is owned by Pacton Pilbara PtyLtd; Raiden Resources has acquired 100%of the tenement and is in the process oftransferring it to wholly owned subsidiaryPilbara Gold Corporation Pty Ltd.•E45/3586 is on unallocated Crown Land.
Explorationdone by otherparties •Acknowledgment and appraisal ofexploration by other parties. •A full search and compilation of historicexploration has been completed.•Work on E45/3586 consisted of streamsediment, soil and rock sampling.
Geology •Deposit type, geological setting and styleof mineralisation. •Orogenic gold mineralisation.•Paleoarchean granitoid complex;

Criteria JORC Code explanation Commentary
hydrothermally altered adjacent togreenstone contact and cut by a suite ofprominent planar quartz veins.
Drill holeInformation •A summary of all information material tothe understanding of the explorationresults including a tabulation of thefollowing information for all Material drillholes:oeasting and northing of the drill holecollaroelevation or RL (Reduced Level –elevation above sea level in metres) ofthe drill hole collarodip and azimuth of the holeodown hole length and interceptiondepthohole length.•If the exclusion of this information isjustified on the basis that the information isnot Material and this exclusion does notdetract from the understanding of thereport, the Competent Person shouldclearly explain why this is the case. •Not applicable.
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.•Where aggregate intercepts incorporateshort lengths of high grade results andlonger lengths of low grade results, theprocedure used for such aggregationshould be stated and some typicalexamples of such aggregations should beshown in detail.•The assumptions used for any reporting ofmetal equivalent values should be clearlystated. •Not applicable.
Relationshipbetweenmineralisationwidths andinterceptlengths •These relationships are particularlyimportant in the reporting of ExplorationResults.•If the geometry of the mineralisation withrespect to the drill hole angle is known, itsnature should be reported.•If it is not known and only the down holelengths are reported, there should be aclear statement to this effect (eg 'downhole length, true width not known'). •Not applicable.
Diagrams •Appropriate maps and sections (withscales) and tabulations of interceptsshould be included for any significantdiscovery being reported These shouldinclude, but not be limited to a plan view ofdrill hole collar locations and appropriate •Not applicable.

Criteria JORC Code explanation Commentary
sectional views.
Balancedreporting •Where comprehensive reporting of allExploration Results is not practicable,representative reporting of both low andhigh grades and/or widths should bepracticed to avoid misleading reporting ofExploration Results. •All results are reported.
Othersubstantiveexplorationdata •Other exploration data, if meaningful andmaterial, should be reported including (butnot limited to): geological observations;geophysical survey results; geochemicalsurvey results; bulk samples – size andmethod of treatment; metallurgical testresults; bulk density, groundwater,geotechnical and rock characteristics;potential deleterious or contaminatingsubstances. •All relevant data are reported in thisrelease.
Further work •The nature and scale of planned furtherwork (eg tests for lateral extensions ordepth extensions or large-scale step-outdrilling).•Diagrams clearly highlighting the areas ofpossible extensions, including the maingeological interpretations and futuredrilling areas, provided this information isnot commercially sensitive. •Field work, including mapping andsampling, to better define mineralisedintervals and drill targets.•Additional soil sampling to close offanomalies.