RAND MINING LIMITED — Interim / Quarterly Report 2021

Oct 27, 2020

A.B.N. 41 004 669 658

28 October 2020

ASX ANNOUNCEMENT

==> picture [108 x 83] intentionally omitted <==

EKJV Exploration Report September 2020 Quarter

ASX:RND

Rand Mining Ltd ( ASX code: RND ) has pleasure in providing the Quarterly EKJV Exploration Report.

Board of Directors

Mr Otakar Demis Chairman & Joint Company Secretary

Mr Anton Billis Managing Director

Mr Gordon Sklenka Non-Executive Director

Mr Brett Tucker & Mr Roland Berzins Joint Company Secretaries

==> picture [121 x 42] intentionally omitted <==

The EKJV is located 25km west north west of Kalgoorlie and 47km north east of Coolgardie. The EKJV is between Rand (12.25%), Tribune Resources Ltd (36.75%) and Northern Star Resources Ltd (51%).

This report has been released with the approval of the Board of Rand Mining Ltd.

-ENDS-

For further information, please contact: Brett Tucker Joint Company Secretary E: brett.tucker@randmining.com.au Ph: + 61 8 9482 0500

For Media and Broker Enquiries

Peter Klinger Cannings Purple E: pklinger@canningspurple.com.au Ph: + 61 411 251 540

Suite G1, 49 Melville Parade South Perth WA 6151 T: +61 8 9474 2113 | F: +61 8 9367 9386 W: www.randmining.com.au

==> picture [121 x 41] intentionally omitted <==

EAST KUNDANA JOINT VENTURE

==> picture [467 x 311] intentionally omitted <==

September 2020 Quarterly EKJV Exploration Report

For distribution to JV Partners:

• Northern Star Resources Limited

• Tribune Resources Limited

• Rand Mining Limited

==> picture [122 x 40] intentionally omitted <==

CONTENTS

1	EXECUTIVE SUMMARY .................................................................................................................. 4
2	EXPLORATION ACTIVITY............................................................................................................... 4
2.1	Pegasus and Hornet (Surface) .................................................................................................. 4
2.2	Rubicon-Hornet-Pegasus-Falcon (UG) ..................................................................................... 5
3	EXPLORATION RESULTS ................................................................................................................ 7
3.1	Hornet-Rubicon-Pegasus ............................................................................................................ 7
	3.1.1 Falcon ........................................................................................................................... 7
	3.1.2 Startrek .......................................................................................................................... 8
	3.1.3 Pode ............................................................................................................................ 10
3.2	Raleigh ........................................................................................................................................ 10
3.3	Golden Hind............................................................................................................................... 10
4	Future Work ................................................................................................................................ 13
4.1	In-mine Exploration ................................................................................................................... 13
4.2	Surface exploration ................................................................................................................... 13
5	APPENDIX 1 ................................................................................................................................ 15

TABLES AND FIGURES

Table 1: EKJV Exploration Activity for quarter ended 30 September 2020..................................... 4 Table 2: Summary drill hole information for surface drilling at Pode North and Hornet. .............. 4 Table 3: Summary drill hole information for in-mine underground drilling at Hornet-RubiconPegasus Mines during the quarter ending 30 September 2020 ...................................................... 5 Table 4: Summary of significant assay results returned for Falcon in-mine drilling ........................ 8 Table 5: Summary of significant assays results returned for Startrek drilling during the quarter ending 30 September 2020 .................................................................................................................. 9 Table 6: Summary of significant assays results returned for Pode North during the quarter ending 30 September 2020. All results from Hornet surface drilling are still pending assay return. ........ 10 Table 7: Summary of significant drill hole assays results for Golden Hind .................................... 11

Figure 1: Overview of Pegasus project showing surface exploration drilling program targeting the Pode north prospect drilled during Q1 FY20/21 ......................................................................... 4

Figure 3: Overview of Hornet project showing surface exploration drilling program targeting mineralisation proximal to the Mary Fault zone drilled during Q1 FY20/21 .................................... 5 Figure 4: Overview of Hornet-Rubicon-Pegasus and Raleigh projects showing in-mine exploration drilling programs targeting the Falcon prospect drilled during Q1 FY20/21 ............. 6 Figure 5: Overview of Hornet-Rubicon-Pegasus projects showing in-mine exploration drilling programs targeting the Pode prospect drilled from underground platforms during Q1 FY20/21 ................................................................................................................................................................. 6 Figure 6: Plan view of Rubicon-Hornet-Pegasus and Raleigh project showing in-mine exploration programs targeting the Falcon lodes that have returned significant intercepts during Q1 FY20/21 ................................................................................................................................................... 7

Figure 7: Plan view of Falcon and core photos of significant results returned in FALDT20052, FALDT20050, FALDT20049 and FALRT20158 during Q1 FY20/21 ........................................................ 8

EKJV Quarterly Report – September 2020

Page 2

==> picture [122 x 40] intentionally omitted <==

Figure 8: Plan view and core photos of significant results returned for STKRT20019A, STKRT20059, STKRT20044 and STKRT20053 during Q1 FY20/21 ................................................................................ 9 Figure 9: East looking view and core photos of significant results returned for PGDD20001, PGD20003 and PGDD20004 during Q1 FY20/21 .............................................................................. 10 Figure 3. Location map of Golden Hind in reference to Raleigh and Rubicon open pits. ........ 11 Figure 4. Golden Hind RC drilling collar positions with reference to the area being evaluated as an open-pit opportunity. .................................................................................................................... 12 Figure 5 Cross-sections of Golden Hind RC drilling showing grade intersection and trend of gold mineralisation ....................................................................................................................................... 13

EKJV Quarterly Report – September 2020

Page 3

==> picture [122 x 40] intentionally omitted <==

1 EXECUTIVE SUMMARY

Exploration activity in the September 2020 quarter across the East Kundana Joint Venture focused on the Falcon Corridor, Pode and Hornet Prospects. Results were also returned for Golden Hind drilling in the previous quarter.

Project	Prospect	Tenement	RAB/AC Metres	RAB/AC Samples	RC Metres	RC Samples	DD Metres	DD Samples	ME Samples
EKJV	Falcon	M15/993	-	-	-	-	544	943	-
EKJV	Falcon	M16/309	-	-	-	-	6,490	4,871	-
EKJV	Pode	M16/309	-	-	-	-	3,375	2,769	-
EKJV	Hornet	M16/309	-	-	-	-	395	300	-
Total			-	-	-	-	10,804	8,883	-

Table 1: EKJV Exploration Activity for quarter ended 30 September 2020

2 EXPLORATION ACTIVITY

2.1 Pegasus and Hornet (Surface)

During the September quarter, seven surface diamond holes were completed targeting the northern extension of the Pode system ahead of the underground development profile (Figure 1, Table 2, Figure 2). Upon completion of the Pode program, surface drilling commenced at Hornet targeting mineralisation in the footwall of the Centenary Main Vein (CMV) and proximal to the Mary Fault.

==> picture [453 x 209] intentionally omitted <==

Figure 1: Plan and section overview of Pegasus Mine showing surface exploration drilling program targeting the Pode North prospect completed during the quarter ending 30 September 2020.

Hole ID	North (MGA)	East (MGA)	RL (MGA)	Depth (m)	Hole **Type **	Dip (deg)	Azimuth (MGA)
HORDD20001	6596635	333943	337	96.5	DD	-60	58
HORDD20002	6596617	333925	337	129.57	DD	-59	58
HORDD20003	6596605	333905	337	168.52	DD	-60	59
PGDD20001	6598536	332557	344	333.38	DD	-63	72
PGDD20002	6598615	332579	344	255.23	DD	-62	71
PGDD20003	6598575	332448	344	396.44	DD	-63	70
PGDD20004	6598665	332549	344	256.34	DD	-61	71
PGDD20005	6598655	332507	344	400.0	DD	-62	73
PGDD20006	6598633	332456	344	411.36	DD	-62	70
PGDD20007	6598706	332472	344	372.3	DD	-63	74

Table 2: Summary drill hole information for surface drilling at Pode North and Hornet.

EKJV Quarterly Report – September 2020

Page 4

==> picture [122 x 40] intentionally omitted <==

==> picture [443 x 218] intentionally omitted <==

Figure 2: Plan and section overview of Hornet Mine showing surface exploration drilling proximal to the Mary Fault zone completed during the quarter ending 30 September 2020

Assay results have been returned for only the first three Pode surface drill holes, all other assay results are pending.

2.2 Rubicon-Hornet-Pegasus-Falcon (UG)

Underground exploration drilling was focused on the Falcon Corridor and Pode prospects with a total of 20 diamond drill holes (7,984 metres) completed during the quarter (see Table 3).

The underground drilling targeting Falcon was conducted from drill platforms in the Hornet 5776 drill drive, Raleigh 6149 access and the Raleigh 5718 stockpile (Figure 3). Underground drilling targeting Pode was conducted from the Pegasus 5811 ore drive south and the Pegasus 5920 drill drive (Figure 4).

Hole ID	North (MGA)	East (MGA)	RL (MGA)	Depth (m)	Hole **Type **	Dip (deg)	Azimuth (MGA)
FALDT20052	6598481	331846	-282	543.45	DD	-4	035
FALRT20150	6598955	331985	147	324.07	DD	18	032
FALRT20151	6598955	331985	148	309.0	DD	19	041
FALRT20152	6598954	331985	147	306.0	DD	19	057
FALDT20158	6597377	333214	-322	319.0	DD	-1	269
FALDT20159	6597378	333214	-322	369.4	DD	-19	286
FALDT20160	6597377	333214	-322	288.4	DD	-12	229
FALDT20161	6597377	333214	-323	441.0	DD	-33	257
FALRT20163	6598481	331846	-282	495.39	DD	-10	055
FALRT20164	6598481	331846	-282	344.0	DD	1	060
FALRT20165	6598480	331846	-283	522.4	DD	-15	063
FALRT20166	6598480	331846	-282	534.4	DD	2	072
FALRT20167	6598480	331846	-283	500.6	DD	-15	074
FALRT20168	6598480	331846	-282	564.54	DD	5	081
FALRT20169	6598480	331846	-282	618.43	DD	-6	088
FALRT20170	6598480	331846	-283	554.3	DD	-15	084
PODRT20052	6598017	333108	-186	254.03	DD	1	204
PODRT20053	6598020	333107	-184	158.68	DD	38	208
PODRT20054	6598018	333108	-185	239.76	DD	20	194
PODRT20347	6595512	343240	-110	297.47	DD	6	327

Table 3: Summary drill hole information for in-mine underground drilling at Hornet-Rubicon-Pegasus Mines during the quarter ending 30 September 2020

EKJV Quarterly Report – September 2020

Page 5

==> picture [122 x 40] intentionally omitted <==

==> picture [453 x 213] intentionally omitted <==

Figure 3: Plan overview of Hornet-Rubicon-Pegasus and Raleigh Mines showing in-mine Falcon exploration drilling programs drilled during the quarter ending 30 September 2020

==> picture [452 x 205] intentionally omitted <==

Figure 4: Plan overview of Hornet-Rubicon-Pegasus Mines showing in-mine Pode exploration drilling from underground platforms during the quarter ending 30 September 2020

EKJV Quarterly Report – September 2020

Page 6

==> picture [122 x 40] intentionally omitted <==

3 EXPLORATION RESULTS

3.1 Hornet-Rubicon-Pegasus

3.1.1 Falcon

Sixteen diamond holes targeting Falcon returned intersections with significant gold mineralisation during the quarter (Table 4, Figure 5, Figure 6). Significant intersections were primarily seen in drill holes below the current extents of the Falcon mineralisation, east of

==> picture [457 x 217] intentionally omitted <==

Raleigh.

Figure 5: Plan view of Rubicon-Hornet-Pegasus and Raleigh mines showing in-mine Falcon exploration drilling that have returned significant intersections during the quarter ending 30 September 2020

Hole ID	North (MGA)	East (MGA)	RL (AHD)	Azi (MGA)	Dip (deg)	Hole Depth (m)	From (m)	To (m)	DH Width (m)	Grade g/t Au	True Width (m)
FALDT20044	6597624	333243	-19	222	-22	411.0		Results pending
FALDT20047	6597622	333243	-19	249	-39	498.0	176.0	176.53	0.53	3.1	0.3
FALDT20049	6598480	331846	-282	079	-6	547.0	254.0	254.75	0.75	2.7	0.6
							448.63	448.93	0.30	2.8	0.3
							482.38	482.73	0.35	5.8	0.3
							483.41	483.71	0.30	17.9	0.3
							487.05	487.39	0.34	2.2	0.3
							487.95	488.3	0.35	3.3	0.3
							499.11	499.71	0.60	8.3	0.6
FALDT20050	6598480	331846	-282	064	-9	505.0	394.2	395.0	0.80	4.1	0.7
							420.32	425.5	5.18	31.7	4.0
							431.0	431.38	0.38	4.8	0.3
FALDT20051	6598481	331846	-282	048	-15	514.0	1.0	2.0	1.0	2.3	0.7
							8.44	9.09	0.65	3.1	0.4
FALDT20052	6598481	331846	-282	035	-4	543.45	447.46	455.22	7.76	4.0	5.0
FALDT20078	6597624	333243	-19	282	-26	469.0		NSI
FALDT20079	6597624	333243	-18	267	-5	500.0		Results pending
FALDT20080	6597622	333243	-19	249	-24	390.0		NSI
FALDT20081	6597621	333244	-18	212	-15	417.0		NSI
FALDT20158	6597377	333214	-322	269	-1	319.0	16.0	16.8	0.8	3.7	0.5
							17.45	18.8	1.35	5.4	0.8
							181.44	182.11	0.67	9.9	0.5
FALDT20159	6597378	333214	-322	286	-19	369.4	45.6	46.0	0.4	2.0	0.2
FALDT20160	6597377	333214	-322	229	-12	288.4	19.81	21.0	1.19	2.6	0.8
							57.0	57.6	0.6	2.1	0.4
FALDT20161	6597377	333214	-323	257	-33	441.0		Results pending
FALRT20150	6598955	331985	147	032	18	324.07		Results pending
FALRT20151	6598955	331985	148	041	19	309.0		Results pending
FALRT20152	6598954	331985	147	057	19	306.0		Results pending
FALRT20034	6598676	332034	142	087	-48	451.0	372.67	372.97	0.3	12.1	0.2

EKJV Quarterly Report – September 2020

Page 7

==> picture [122 x 40] intentionally omitted <==

Hole ID	North (MGA)	East (MGA)	RL (AHD)	Azi (MGA)	Dip (deg)	Hole Depth (m)	From (m)	To (m)	DH Width (m)	Grade g/t Au	True Width (m)
							374.5	374.8	0.3	7	0.2
FALRT20039	6598367	332759	-97	248	-5	360.0	Results pending
FALRT20163	6598481	331846	-282	055	-10	495.39	415.1	415.4	0.3	3.3	0.2
							450.0	450.4	0.4	3.2	0.3
FALRT20164	6598481	331846	-282	060	1	344.0	NSI
FALRT20165	6598480	331846	-283	063	-15	522.4	Results pending
FALRT20166	6598480	331846	-282	072	2	534.4	60.59	61.0	0.41	6.0	0.4
							64.0	64.54	0.54	2.4	0.5
							495.42	495.82	0.40	2.5	0.4
FALRT20167	6598480	331846	-283	074	-15	500.6	417.47	417.78	0.31	32.9	0.3
							474.48	474.82	0.34	9.6	0.3
FALRT20168	6598480	331846	-282	081	5	564.54	Results pending
FALRT20169	6598480	331846	-282	088	-6	618.43	Results pending
FALRT20170	6598480	331846	-283	084	-15	554.3	Resultspending

Table 4: Summary of significant assay results returned for Falcon in-mine drilling

==> picture [450 x 243] intentionally omitted <==

Figure 6: Plan view of Falcon drilling with core photos of significant assay results returned in FALDT20052, FALDT20050, FALDT20049 and FALRT20158

3.1.2 Startrek

Six underground diamond drill holes targeting the Startrek trend drilled during the June 2020 quarter returned significant assay results during the September quarter (Table 5, Figure 7). Mineralisation was predominately present in narrow irregular quartz veins within the footwall volcanic sediment package.

Hole ID	North (MGA)	East (MGA)	RL (AHD)	Azi (MGA)	Dip (deg)	Hole Depth (m)	From (m)	To (m)	DH Width (m)	Grade g/t Au	True Width (m)
STKRT20019A	6598323	332937	221	64	-23	369	125.4	125.7	0.3	3.5	0.3
							169.22	169.73	0.51	6.0	0.5
							190.52	191.35	0.83	26.1	0.8
							201.52	201.9	0.38	20.3	0.4
							210.95	212	1.05	6.7	1
							272.3	272.6	0.3	38.5	0.3
							329.5	330.84	1.34	5.3	1.3
							331.4	332.08	0.68	13.3	0.7
							360.25	360.55	0.3	5.7	0.3
STKRT20042	6597626	333394	-62	61	20	423				Pending
STKRT20043	6597626	333394	-62	75	10	404				Pending
STKRT20044	6597625	333394	-62	85	13	462	249.63	251.06	1.43	4.10	1.2
							396.44	396.74	0.3	4.50	0.3
STKRT20053	6597624	333394	-63	106	-4	489	18.55	18.85	0.3	6.48	0.2

EKJV Quarterly Report – September 2020

Page 8

==> picture [122 x 40] intentionally omitted <==

Hole ID	North (MGA)	East (MGA)	RL (AHD)	Azi (MGA)	Dip (deg)	Hole Depth (m)	From (m)	To (m)	DH Width (m)	Grade g/t Au	True Width (m)
							25.3	26.0	0.7	2.00	0.5
							58.0	58.8	0.8	2.48	0.6
							234.7	235.0	0.3	3.36	0.2
							449.85	450.15	0.3	4.88	0.2
							454.55	455.04	0.49	2.61	0.3
							456.85	457.15	0.3	9.47	0.2
							462.07	462.44	0.37	5.60	0.3
							465.66	466.8	1.14	32.6	0.8
STKRT20059	6597500	333489	76	035	9	534	11.38	11.69	0.31	3.20	0.3
							123.95	124.94	0.99	2.40	0.8
							127.5	128.75	1.25	5.60	1.0
							136.46	137.3	0.84	3.10	0.7
							142.4	143.17	0.77	2.70	0.6
							201.14	202.38	1.24	17.4	1.0
							238.65	239.03	0.38	5.30	0.3
							274.2	274.6	0.4	4.10	0.3
							412.0	413.0	1.0	3.90	0.8
							422.5	422.87	0.37	2.70	0.3
							443.77	444.16	0.39	3.00	0.3
STKRT20060	6597499	333489	76	63	6	540	231.02	231.32	0.3	6.00	0.3
							377.7	378.06	0.36	2.30	0.3
							380.2	380.69	0.49	7.50	0.5
STKRT20065	6597499	333490	75	95	-10	453	242.43	242.85	0.42	3.03	0.3
							264.65	264.95	0.3	18.8	0.3
							267.55	267.89	0.34	6.62	0.3
							269.94	270.24	0.3	2.06	0.3
							306.52	307.13	0.61	2.54	0.5
							314.93	315.23	0.3	2.43	0.3
							322.12	322.42	0.3	6.62	0.2

Table 5: Summary of significant assays results returned for Startrek drilling during the quarter ending 30 September 2020

==> picture [454 x 309] intentionally omitted <==

Figure 7: Plan view and core photos of significant results returned for STKRT20019A, STKRT20059, STKRT20044 and STKRT20053

EKJV Quarterly Report – September 2020

Page 9

==> picture [122 x 40] intentionally omitted <==

3.1.3 Pode

==> picture [452 x 292] intentionally omitted <==

Figure 8: Long section view and core photos of significant results returned for PGDD20001, PGD20002 and PGDD20003 during the quarter ending 30 September 2020

Assay results were received for three of the diamond drill holes from the Pode North surface drilling program (Table 6, Figure 8). All holes intersected the targeted Pode structure with PGDD20001 and PGDD20002 intersecting wide zones of irregular veining at target and PGDD20003 intersecting a narrow, laminated vein.

Hole ID	North (MGA)	East (MGA)	RL (AHD)	Azi (MGA)	Dip (deg)	Hole Depth (m)	From (m)	To (m)	DH Width (m)	Grade g/t Au	True Width (m)
PGDD20001	6598536	332557	344	072	-63	333.4	221.8	222.34	0.54	2.2	0.15
							224.72	228.7	3.98	1.8	0.92
PGDD20002	6598615	332579	344	071	-62	255.2	209.05	213.18	4.13	3.3	0.96
							224.02	225.3	1.28	20.8	0.37
PGDD20003	6598575	332448	344	070	-63	396.4	160.92	161.4	0.48	2.4	0.08
							220.41	220.96	0.55	3.2	0.10
							313.82	314.12	0.3	16.1	0.05
							345.33	346.0	0.67	3.5	0.12
							374.56	375.14	0.58	4.9	0.10
PGDD20004	6598665	332549	344	071	-61	256.34	Results Pending
PGDD20005	6598655	332507	344	073	-62	400.0	Results Pending
PGDD20006	6598633	332456	344	070	-62	411.36	Results Pending
PGDD20007	6598706	332472	344	074	-63	372.3	Results Pending

Table 6: Summary of significant assays results returned for Pode North during the quarter ending 30 September 2020. All results from Hornet surface drilling are still pending assay return.

3.2 Raleigh

Exploration drilling at Raleigh during the September quarter targeted Falcon only.

3.3 Golden Hind

An in-fill surface reverse circulation drilling program was completed late in the previous quarter at Golden Hind aimed at improving the confidence in the mineralisation model for the area. Golden Hind is the southern extension of the Strzelecki structure extensively mined at Raleigh.

EKJV Quarterly Report – September 2020

Page 10

==> picture [122 x 40] intentionally omitted <==

The fourteen drill holes returned assay results consistent with the highly variable nature of the Strzelecki structure. The distribution of the significant assay grades exceeded expectations with further resource definition drilling planned (Table 7, Figure 9, Figure 10, Figure 11).

Hole ID	North (MGA)	East (MGA)	RL (AHD)	Azi (MGA)	Dip (deg)	Hole Depth (m)	From (m)	To (m)	DH Width (m)	Grade g/t Au	True Width (m)
GHRC20001	6597068	332815	343	059	-61	72	62	65	3	10.09	1.8
GHRC20002	6597079	332835	343	061	-59	48	41	43	2	19.88	1.2
GHRC20003	6597085	332845	343	061	-59	42	31	33	2	8.31	1.2
GHRC20004	6597090	332854	343	059	-59	42	20	22	2	0.51	1.2
GHRC20005	6597094	332861	343	061	-61	30	15	16	1	2.40	0.6
							19	21	2	1.80	1.2
GHRC20006	6597099	332869	343	060	-60	18	10	11	1	5.05	0.6
GHRC20007	6597103	332879	343	060	-60	30	NSI
GHRC20008	6596923	332868	343	062	-60	60	NSI
GHRC20009	6596932	332884	343	062	-59	54	33	36	3	13.05	1.8
GHRC20010	6596938	332896	343	064	-59	36	22	25	3	2.26	1.8
GHRC20011	6596942	332905	343	063	-58	30	9	13	4	2.78	2.4
GHRC20012	6596917	332916	342	063	-60	24	16	17	1	1.76	0.6
GHRC20013	6596927	332927	343	062	-59	18	11	13	2	0.48	1.2
GHRC20014	6596932	332932	343	061	-61	12	NSI
	Table 7: Summary of significant drill hole assays results for Golden Hind

==> picture [426 x 408] intentionally omitted <==

Figure 9: Location map of Golden Hind prospect in relation to the Raleigh and Rubicon open pits.

EKJV Quarterly Report – September 2020

Page 11

==> picture [122 x 40] intentionally omitted <==

==> picture [437 x 311] intentionally omitted <==

Figure 10: Plan view of Golden Hind RC drilling collar positions

EKJV Quarterly Report – September 2020

Page 12

==> picture [122 x 40] intentionally omitted <==

==> picture [451 x 455] intentionally omitted <==

Figure 11: Selected cross-sections from the Golden Hind RC drilling program showing significant grade intersections

4 Future Work

4.1 In-mine Exploration

Exploration drilling will continue to test the northern extents of the Pode orebody, the Startrek trend east of Rubicon and the Hode2 lode, west of the Hornet Main Vein.

4.2 Surface exploration

Further surface drilling is planned for the Golden Hind and Hornet open pit prospects.

EKJV Quarterly Report – September 2020

Page 13

==> picture [122 x 40] intentionally omitted <==

Competency Statement

The information in this report relating to Exploration Results is based on information compiled by Dr Rick Gordon who is a Member of the Australian Institute of Geoscientists and has sufficient exploration experience which is relevant to the style of mineralisation under consideration to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Dr Gordon is a full-time employee of Northern Star Resource Limited and consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

EKJV Quarterly Report – September 2020

Page 14

==> picture [122 x 40] intentionally omitted <==

5 APPENDIX 1

JORC Code, 2012 Edition – Table 1

Section 1 Sampling Techniques and Data

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

Criteria	JORC Code Explanation	Commentary
Sampling techniques	▪ Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling. ▪ Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. ▪ Aspects of the determination of mineralisation that are Material to the Public Report. ▪ In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30g 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 (e.g. submarine nodules) may warrant disclosure of detailed information.	▪ Sampling was completed using combination of Reverse Circulation (RC) and diamond drill core (DD). ▪ RC samples were split using a rig-mounted cone splitter on 1m intervals to obtain a sample for assay. These 1m samples were submitted for assay within 24 hours ▪ Diamond core was transferred to core trays for logging and sampling. Half core or full core samples were nominated by the geologist from HQ or NQ diamond core, with a minimum sample width of 20cm and a maximum width of 120cm. ▪ Samples were transported to various analysis laboratories in Kalgoorlie for preparation by drying, crushing to <3mm, and pulverizing the entire sample to <75μm. ▪ 300g Pulp splits were analysed in laboratories in both Kalgoorlie and Perth for 40-50g Fire assay charge and AAS analysis for gold.
Drilling techniques	▪ Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. 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.).	▪ For underground drilling, NQ2 (50.6mm) diameter core was used. ▪ Core was orientated using an electronic ‘back-end tool’ core orientation system. ▪ RC Drilling was completed using a 5.75” drill bit, downsized to 5.25” at depth.
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.	▪ Moisture content and sample recovery are recorded for each RC sample. ▪ For diamond drilling the contractors adjust their rate of drilling and method if recovery issues arise. All recovery is recorded by the drillers on core blocks. This is checked and compared to the measurements of the core by the geological team. Any issues are communicated back to the drilling contractor. ▪ RC drilling contractors adjust their drilling approach to specific conditions to maximize sample recovery. Moisture content and sample recovery are recorded for each RC sample. No recovery issues were identified during 2020 RC drilling. Recovery was poor at the very beginning of each hole, as is normal for this type of drilling in overburden ▪ Recovery was excellent for diamond core and no relationship between grade and recovery was observed.

EKJV Quarterly Report – September 2020

Page 15

==> picture [122 x 40] intentionally omitted <==

Criteria	JORC Code Explanation	Commentary
Logging	▪ Whether core and chip samples have been geologically and geotechnically 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, channel, etc.) photography. ▪ The total length and percentage of the relevant intersections logged.	▪ All diamond core is logged for regolith, lithology, veining, alteration, mineralisation and structure. Structural measurements of specific features are taken through oriented zones. All logging is quantitative where possible and qualitative elsewhere. A photograph is taken of every core tray. ▪ RC sample chips are logged in 1m intervals. For the entire length of each hole. Regolith, Primary lithology, alteration, veining and mineralisation are all recorded.
Sub-sampling techniques 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.	▪ All diamond core that was half-core sampled was cut longitudinally with an automated core saw. ▪ All RC samples are split using a rig-mounted cone splitter to collect a 1m sample 3-4kg in size. Moisture content of the sample is recorded and noted if wet samples are obtained ▪ Sample preparation was conducted at various laboratories in Kalgoorlie, commencing with sorting, checking and drying at less than 110°C to prevent sulphide breakdown. Samples are jaw crushed to a nominal -6mm particle size. The entire crushed sample is then pulverized to 90% passing 75μm, using a bowl or ring-mill pulveriser. 300g Pulp subsamples are then taken with an aluminium scoop and stored in labelled pulp packets. ▪ Grind checks are performed at both the crushing stage (3mm) and pulverising stage (75μm), requiring 90% of material to pass through the relevant size to ensure consistent sample preparation.
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 (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.	▪ A 40-50g fire assay charge is used with a lead flux, dissolved in the furnace. The prill is totally digested in HCl and HNO3 acids before Atomic Absorption Spectroscopy (AAS) determination for gold analysis. This method ensures total gold is reported appropriately. ▪ No geophysical tools were used to determine any element concentrations ▪ Certified Reference Materials (CRMs) are inserted into the sample sequence randomly at a rate of 1 per 20 composite samples to ensure correct calibration. Any values outside of 3 standard deviations are scrutinised and re-assayed with a new CRM if the failure is deemed genuine. ▪ Blanks are inserted into the sample sequence at a rate of 1 per 20 composite samples. Failures above 0.2g/t are scrutinised and re-assayed if required. New pulps are prepared if failures remain. ▪ All sample QAQC results are assessed by geologists to ensure the appropriate level of accuracy and precision when the results have been returned from the laboratory. ▪ Field duplicates are taken for all RC samples (1 in 50 samples)
Verification of sampling and assaying	▪ The verification of significant intersections by either independent or alternative company personnel. ▪ The use of twinned holes. ▪ Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. ▪ Discuss any adjustment to assay data.	▪ All significant intersections are verified by the project geologist and senior geologist during the drill hole validation process. ▪ No holes were twinned as part of the programmes in this report. ▪ Geological logging was captured using Acquire database software. Assay files are received in csv format and loaded directly into the database by the supervising geologist who then checks that the results have inserted correctly. Hardcopy and electronic copies of these are also kept. No adjustments are made to this assay data.

EKJV Quarterly Report – September 2020

Page 16

==> picture [122 x 40] intentionally omitted <==

Criteria	JORC Code Explanation	Commentary
Location of data points	▪ Accuracy and quality of surveys used to locate 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.	▪ All collars for underground drilling are located in the local mine grid by a mine surveyor using a laser theodolite. ▪ A planned RC hole is pegged using a hand-held GPS by the geologist. The final collar is picked up after hole completion by Differential GPS in the MGA 94 Zone 51 grid. During drilling, single-shot surveys are taken every 30m as a minimum standard to ensure the hole remains close to design with a further survey taken at the end of hole. A continuous north-seeking gyro tool is used. A more detailed survey (i.e. more survey stations) is generally conducted upon completion of the hole. Results are uploaded to an online server, where they can be downloaded and imported into Northern Star’s Acquire database.
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.	▪ Surface drillhole spacing is variable and dependent on the interpreted geometries of geology and mineralisation at individual prospects. ▪ In-mine diamond drillholes spacings are also variable from 80m apart through to isolated single drillholes. Closer spaced drilling is considered operational drilling, beyond the scope of this report.
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.	▪ All drilling both underground and surface is oriented as close as practical to perpendicular to the target structures. The orientation of all in-mine target structures is well known and drill holes are only designed where meaningful intercept angles can be achieved. ▪ No sampling bias is considered to have been introduced by the drilling orientation.
Sample security	▪ The measures taken to ensure sample security.	▪ Prior to laboratory submission samples are stored by Northern Star in a secure yard. Once submitted to the laboratories they are stored in a secure fenced compound and tracked through their chain of custody via audit trails.
Audits or reviews	▪ The results of any audits or reviews of sampling techniques and data.	▪ No audits or reviews have recently been conducted on sampling techniques; however, lab audits are conducted on a regular basis.

EKJV Quarterly Report – September 2020

Page 17

==> picture [122 x 40] intentionally omitted <==

Section 2 Reporting of Exploration Results

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

Criteria	JORC Code Explanation	Commentary
Mineral tenement and land tenure status	▪ Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint 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.	▪ All diamond holes mentioned in this report are located within the M16/309 and M15/993 Mining leases held by The East Kundana Joint Venture (EKJV). The EKJV is majority owned and managed by Northern Star Resources Ltd (51%). The minority holding in the EKJV is held by Tribune Resources Ltd (36.75%) and Rand Mining Ltd (12.25%). ▪ M16/309 is subject to two royalty agreements; however, neither of these is applicable to the Prospects described in this report. The agreements concerned are the Kundana‐Hornet Central Royalty and the Kundana Pope John Agreement No. 2602‐13. No known impediments exist and the tenement is in good standing
Exploration done by other parties	▪ Acknowledgment and appraisal of exploration by other parties.	▪ Underground drilling on the Raleigh and Hornet-Rubicon-Pegasus mines extends the mineralised trends from older drilling including that of previous operators of those mines including Barrick Gold, Placer Dome Asia-Pacific, Aurion Gold, Goldfields Limited and other predecessors.
Geology	▪ Deposit type, geological setting and style of mineralisation.	▪ The Kundana camp is situated within the Norseman-Wiluna Greenstone Belt, in an area dominated by the Zuleika Shear Zone, which separates the Coolgardie domain from the Ora Banda domain. The Zuleika Shear Zone in the Kundana area comprises multiple anastomosing shears the most important of which are the K2, the K2A and Strzelecki Shears. ▪ Raleigh and Golden Hind mineralisation is hosted on the Strzelecki Structure. Strzelecki mineralisation consists of very narrow, very high-grade mineralisation on a laminated vein hosted in the camp- scale Strzelecki Shear which abuts a differentiated mafic intrusive, the Powder Sill Gabbro against intermediate volcanoclastic rocks (Black Flag Group). A thin ‘skin’ of volcanogenic lithic siltstone- sandstone lies between the gabbro and the Strzelecki shear. Being bound by an intrusive contact on one side and a sheared contact on the other, the thickness of the sedimentary package is highly variable from absent to about forty metres true width. ▪ The Hornet-Rubicon-Pegasus mineralisation consists primarily of high-grade laminated vein hosted gold on the K2 plane of the Zuleika shear with additional mineralisation on associated lower-order structures. The Falcon target is a related mineralised zone in the hangingwall to Pegasus and between the two main Zuleika structures, the K2 and Strzelecki structures.
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.	▪ Refer to the various tables in the body of this report. ▪ Exploration results that are not material to this report are excluded for some drill programmes, however, the drill physicals are all detailed for all drilling regardless of the outcome.

EKJV Quarterly Report – September 2020

Page 18

==> picture [122 x 40] intentionally omitted <==

Criteria	JORC Code Explanation	Commentary
Data aggregation methods	▪ In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. 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 clearly stated.	▪ All drill results are reported as aggregates across the target zone.
Relationship between mineralisation widths and intercept lengths	▪ These relationships are particularly important in the reporting of Exploration Results. ▪ If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. ▪ If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’).	▪ The orientation of target structures is well known for all in-mine exploration targets and true widths can be accurately calculated and are reported accordingly. ▪ Both the downhole width and true width have been clearly specified when used.
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.	▪ Refer to the figures the body of this report for the spatial context of all holes planned and drilled to date.
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 practised to avoid misleading reporting of Exploration Results.	▪ Exploration results that are not material to this report are excluded for some drill programmes, however, the drill physicals are all detailed for all drilling regardless of the outcome.
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.	▪ No other material exploration data has been collected for this drill program.
Further work	▪ The nature and scale of planned further work (e.g. tests for lateral extensions or depth 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.	▪ Further planned work is referenced in the report body

EKJV Quarterly Report – September 2020

Page 19