RAIDEN RESOURCES LIMITED — Regulatory Filings 2021

Jul 5, 2021

HIGH RESOLUTION MAGNETIC SURVEY DEFINES 40 INTRUSION RELATED TARGETS AT ARROW

HIGHLIGHTS

• 40 intrusion related targets identified from high resolution magnetic survey at Arrow North project (E47/3476)
• Follow up work will involve:
  • field evaluation of all defined targets
  • IP (induced polarisation) across high priority areas
• IP will be used to identify sulphides potentially associated with gold mineralisation, a process used by De Grey Mining (ASX:DEG) to define targets at Hemi
• Drill permitting process to commence immediately, no Heritage Survey required

Figure 1: Greyscale TMI Magnetics and Intrusion Related Gold Targets

QUICK STATS ASX Code: RDN DAX Code: YM4

BOARD & MANAGEMENT

Non- Executive Chairman Mr Michael Davy

Managing Director Mr Dusko Ljubojevic

Non-Executive Directors Mr Martin Pawlitschek

Non-Executive Directors 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 )

Raiden Resources Limited (ASX: RDN) ("Raiden" or "the Company") is pleased to announce that interpretation of detailed magnetic data acquired from its flagship Arrow property in the Pilbara region of Western Australia is complete. Interpretation was undertaken by Terra Resources.

Mr Dusko Ljubojevic, Managing Director of Raiden commented: "The high resolution magnetic survey undertaken across Arrow, has significantly increased our confidence in the targets and has resulted in a quantum of additional targets warranting investigation. We will initiate field verification of the various targets immediately in order to prioritise the targets, as well as undertake IP across high priority areas. At the same time permitting for drill rig access will commence concurrently."

Interpretation of High Resolution Magnetic Survey Data

Figure 2: Arrow Project Geology and Targets

Detailed airborne magnetic data was acquired across the northern Arrow tenement by MAGSPEC Airborne Surveys Pty Ltd ("MAGSPEC") in April. Data was collected along north-south traverse lines spaced 25 metres apart from a nominal flying height of 30 metres above the ground. Preliminary processing was completed by MAGSPEC, with additional processing and interpretation completed by Terra Resources Pty Ltd ("Terra").

Interpretation at 1:20 000 scale has provided detailed information on likely rock types and geological structures. 40 intrusion related targets were defined. The magnetic response is indicative of intrusions and also included zones of demagnetisation and possible hydrothermal alteration associated with mineralisation.

Small volume Indee Suite intrusions are intimately associated with gold mineralisation at De Grey's Hemi deposit. Gold is located in and around these bodies within northeast-southwest striking shear zones adjacent to a larger Indee Suite stock. The geological setting of Arrow is identical to Hemi: at Arrow numerous small volume Indee Suite intrusions occur within a series of northeast-southwest striking shear zones adjacent to the larger Indee Suite Peawah Granodiorite. Targeting at Arrow is based around identifying the intrusions, host structures and products of gold-related hydrothermal alteration.

Figure 3: Raiden's Pilbara property portfolio, 35km on strike from ASX: DEG Hemi deposit

Figure 4: Arrow in relation to ASX:DEG tenure and the Hemi gold system

Planned Work

Field evaluation of all defined targets is planned, with IP surveys across high priority areas. IP aims to identify sulphides potentially associated with gold mineralisation, a process used by De Grey Mining (ASX:DEG) to define targets at Hemi.

The Company will also commence with drill access permitting on key target areas and engaging with drilling contractors, with the objective of drill testing the key targets as soon as possible.

About Terra Resources

Terra offers integrated interpretation products combining geophysical data and modelling with results of surface geological mapping, geochemistry and drilling. As a group Terra incorporates expertise from all geoscientific fields. Terra specialises in defining and evaluation exploration targets and highlighting upside potential.

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 dusko@raidenresources.com.au 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, a number of which the Company plans to drill test. 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 1: 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.	•Magnetic data were collected from aCessna 210 aircraft using a towed G-823Acaesium vapour magnetometer, 20 Hzsampling interval; radiometric data werecollected using a RSI RS-500 gamma rayspectrometer incorporation 2x RSX-4detector packs, 32 litre crystal, 1024multichannel analyser, sampling interval of2Hz.•Navigation was controlled with anintegrated Novatel OEM719 DGPS receiverand Bendix/King KRA 405 radar altimeterand Renishaw ILM-500R laser altimeter.•Nominal traverse separation was 25m, withan average ground clearance of 30m.•Survey tie lines were also flown.•Base station was a GEM GSM19Overhauser & Scintrex Envi-Mag protonprecession, 1 Hz sampling interval.•Magnetic processing and modelling: TMI(Total Magnetic Intensity) data wereprocessed to produce first order reductionimages. Filters and derivatives were thenapplied to these data to create otherimages.
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,	•Not applicable.

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.	•Not applicable.
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.	•Not applicable.
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.	•Data are stored online.
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.	•Navigation was controlled by an integratedDGPS receiver.•Co-ordinates used are 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.	•Not applicable.
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.	•Flight lines were planned to cross themajority of known structures andstratigraphy.
Samplesecurity	•The measures taken to ensure samplesecurity.	•Not applicable
Audits orreviews	•The results of any audits or reviews ofsampling techniques and data.	•No reviews or audits have beenundertaken.

Table 2: 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.	•Exploration licence E47/3476 is locatedwithin the City of Karratha in the Pilbararegion of Western Australia.•E47/3476 is covered by the MallinaPastoral lease.•E47/3476 is owned by Arrow (Pilbara) PtyLtd.•Raiden Resources is earning a 100%interest in E47/3476.•Arrow Minerals Ltd retains the right toexplore, mine and extract Li, Cs and Ta onE47/3476.
Explorationdone by otherparties	•Acknowledgment and appraisal ofexploration by other parties.	•A full search and compilation of historicexploration has been completed.•Work included soil and auger sampling,rock sampling and limited drilling.
Geology	•Deposit type, geological setting and styleof mineralisation.	•Orogenic gold, VMS and intrusiveassociated Ni-Cu deposits.•Sedimentary and ultramafic rocks of theMallina Basin intruded by late orogenicgranitoids - the Peawah Granodiorite andSatirist Granite. The district-scale WohlerShear Zone, which is important in

Criteria	JORC Code explanation	Commentary
		hosting/localising gold mineralisation alongstrike to the NE, transects the property.
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 appropriatesectional views.	•Not applicable.

Criteria	JORC Code explanation	Commentary
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.	•Not applicable.
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.	•Further geophysical surveys (IP) areplanned.•Follow up field work will comprisegeological mapping and selective rocksampling across defined targets.