REDSTONE RESOURCES LIMITED — Capital/Financing Update 2016

Jun 14, 2016

15 June 2016

The Manager Company Announcements Office Australian Stock Exchange Limited Level 4, Exchange Centre 20 Bridge Street SYDNEY NSW 2000

Electronic Lodgement

MAIDEN COPPER RESOURCE, TOLLU PROJECT WEST MUSGRAVE, WESTERN AUSTRALIA

HIGHLIGHTS

• Initial JORC 2012 resource of 3.8 million tonnes at 1% Cu, containing 38,000 tonnes of copper at the Tollu Project.
• Tollu is one of 6 projects on the Tollu tenement. Significant exploration upside as drilling to date has been confined to less than 2% of tenement area.
• Includes 7,000 tonnes of copper oxide, which provides scope for the evaluation of a low cost $\bullet$ expedited development path as part of the broader development of higher grade sulphide prospects.
• In parallel, the Conceptual Exploration Target for the Tollu Project has been reviewed resulting in a significant increase in its size to 31 to 47 million tonnes of mineralisation at a conceptual grade range of 0.8 to 1.3% Cu, containing 259,000 to 626,000 tonnes of copper. The potential quantity and grade of this target is conceptual in nature. It is important to note that there has been insufficient exploration to estimate a Mineral Resource for the Target and it is uncertain if further exploration will result in the estimation of a Mineral Resource for the Target.
• The Forio Prospect has seen a significant upgrade and highlights the potential for the Project, with $\bullet$ recent drilling identifying a mineralised strike over 250m and which remains open in all directions, despite the Forio Prospect displaying limited surface expression.
• The Forio Prospect target tonnes now exceed the previously estimated target tonnage by circa 10 times supported by early stage limited drilling.
• Forio is yet to be effectively drilled below 50m however has already achieved its previously $\bullet$ estimated median target tonnage.
• Seven additional new Forio analogues and three previously identified "Forio look-alike" prospects, $\bullet$ combined with the increased Conceptual Exploration Target, provide a solid foundation to significantly expand the Mineral Resource, including oxide copper material, with further drilling.

Maiden Mineral Resource Estimate

Redstone Resources Limited (ASX: RDS) ("Redstone" or "the Company") is pleased to announce its first Mineral Resource estimate, reported in accordance with the 2012 JORC Code, for its 100% owned Tollu Project ("Tollu" or the "Project") in the West Musgrave, Western Australia.

The initial Mineral Resource estimate at Tollu is 3.8Mt @ 1.0% copper, which equates to 38,000 tonnes of contained copper (the "Mineral Resource") (Tables 1 and 2). The Tollu Mineral Resource was prepared by BM Geological Services Pty Ltd, a Kalgoorlie based, independent geological consulting group and is reported in line with the guidelines of the Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves 2012 edition (JORC 2012).

Tollu ProjectMineral Resource Estimate - June 2016
Prospect	Tonnes	Cu%	ContainedCopper
Chatsworth	798,308	1.6%	12,780
Forio	671,898	1.1%	7,233
Main Reef	850,210	0.7%	5,633
Hamptons	266,576	0.9%	2,436
Eastern Reef	1,309,138	0.8%	10,047
Total	3,896,130	1.0%	38,129

Table 1 Mineral Resource Estimate by Prospect
------------------------------------------------------	--	--	--	--

	Tollu Project
		Mineral Resource Estimate - June 2016
Resource	Prospect	Tonnes	Cu%	Contained
Classification				Copper
Indicated	Chatsworth	394,607	1.6%	6,323
	Forio	69,268	1.1%	759
	Sub-Total	463,875	1.5%	7,081
Inferred	Chatsworth	403,701	1.6%	6,458
	Forio	602,630	1.1%	6,474
	Main Reef	850,210	0.7%	5,633
	Hamptons	266,576	0.9%	2,436
	Eastern Reef	1,309,138	0.8%	10,047
	Sub-Total	3,432,255	0.9%	31,048
Total	Chatsworth	798,308	1.6%	12,780
Indicated	Forio	671,898	1.1%	7,233
+ Inferred	Main Reef	850,210	0.7%	5,633
	Hamptons	266,576	0.9%	2,436
	Eastern Reef	1,309,138	0.8%	10,047
Total Indicated and Inferred		3,896,130	1.0%	38,129

Table 2 Indicated and Inferred Mineral Resource Estimate by Prospect

Commenting on the results Redstone's Chairman, Mr Homsany said:

"The definition of a maiden resource at Tollu represents a major milestone for Redstone and for the advancement of the Project. The success of the shallow drilling at the previously undrilled prospects, especially at Forio, highlights the significant upside potential to identify further veins hosting near surface copper mineralisation and validates the opportunity for repeat success on other veins of similarly minimal surface expression. With only limited drilling, the Forio Prospect shows significantly longer strike length than both the Chatsworth and Eastern Reef Prospects.

The mineralisation at Forio is very significant as it is located in a dilational zone to the north west of the Tollu Fault, which is in a different location to the previously discovered mineralisation. Its current strike length remains open in all directions and as yet has not been effectively drilled out below 50m. The most recent drill results disclose the widest and strongest copper mineralisation discovered at this depth to date at Tollu.

The identification of additional "Forio look-alike" prospects is seen as a significant bonus in addition to the maiden JORC compliant mineral resource achieved by the recent drilling campaign. There is undoubtedly excellent potential to significantly expand the Mineral Resource with future drilling, both to extend the mineralisation in the near-surface, open pittable environment as well as targeting extensions of the higher grade sections of mineralisation.

The Board is confident that after further drilling, evaluation can commence of the economic viability of the near surface copper mineralisation at Tollu. If studies prove it to be viable, the near surface copper oxide may present short term development options generating early cash flow with significantly lower up front capital expenditure."

It is significant to also note that prior to 2015, drilling focused on the discovery of deep seated, magmatic Ni-Cu sulphide mineralisation at Tollu and was not optimally designed for the definition of a shallow copper oxide resource. The Company is very pleased that the 2015 drilling campaign was able to delineate a significant maiden resource in accordance with the 2012 JORC Code.

Importantly, beyond the current Mineral Resource estimate, it validates the Company's confidence that, with additional drilling, other prospects will be identified, and that future drilling at Tollu on existing and future prospects, can define further copper mineralisation. There is significant potential upside at Tollu given drilling activities have been limited to certain areas of the Project. The Project's potential copper endowment is not constrained.

Tollu Project - Increased Conceptual Exploration Target

Redstone has defined an increased Conceptual Exploration Target for the Tollu Project of 31 to 47 million tonnes of mineralisation at a conceptual grade range of 0.8 - 1.3% Cu, containing 259,000 to 626,000 tonnes of copper. This Target is based on the current geological understanding of the mineralised outcrop area at Tollu, coupled with geophysical evidence to suggest that the mineralised environment extends beneath cover to the north and south. Table 3 describes the Target breakdown by Prospect. This represents a substantial 41% increase to the upper range of the previously existing target (49% when the Mineral Resource is included).

Given the drilling data is constrained to less than 2% of the tenement area and only on one project (Tollu) out of six, the upside to the Mineral Resource remains unlimited.

The Tollu deposit is located in a large, reverse fault system where Cu mineralisation is focused into low stress dilatational jog positions along a north-south structural corridor (Figure 2). High grade Cu mineralisation appears to be constrained to late stage veining within the dilatational positions which results

The significance of Forio is described above and further below. As a result the Company has revised its targeting strategy. Consequently it has reprioritised its existing exploration prospects and defined new prospects with the information gathered from its most recent drilling campaign.

The Company has identified five (5) new prospects, and three (3) previously identified prospects, as "Forio look-alikes" within the area to the east of the main North-South structures i.e.: the dilational zone. The new Forio look-alike prospects include; Huntington, Drummond, Stourhead, Exbury, and Forio South, combined with the previously identified prospects of Kilruddery, Bodnant and Prater. A further two (2) new prospects to the west of Main Reef have also been identified, being the Isola and Butchart prospects.

The increased Target is based on the current geological understanding of the mineralised outcrop area at Tollu, coupled with geophysical evidence to suggest that the mineralised environment extends beneath cover to the north and south.

The additional Forio look-alike prospects and increased Target are important to the economics of the Project. They provide a solid foundation to significantly expand both the copper oxide material at the Project and the Mineral Resource.

The Company has identified a further seven (7) new "Forio look-alike" prospects and three (3) previously identified prospects within the Tollu Project. There are now 24 Prospects in total within the Tollu Project. The new prospects include; Huntington, Drummond, Stourhead, Exbury, Butchart, Isola and Forio South.

	Tonnes	Tonnes	Grade	Grade	Contained	Contained
Prospect	Lower	Upper	Lower	Upper	Copper	Copper
			Cu%	Cu%	Lower	Upper
Huntington	1,872,000	2,808,000	0.9%	1.5%	16,800	42,100
Drummond	1,248,000	1,872,000	0.9%	1.5%	11,200	28,000
Stourhead	2,028,000	3042000	0.9%	1.5%	18,200	45,600
Exbury	520,000	780,000	0.9%	1.5%	4,600	11,700
Butchart	1,664,000	2,496,000	0.9%	1.5%	14,900	37,400
Main Reef South	4,784,000	7,176,000	0.8%	1.2%	38,200	86,100
Isola	936,000	1,404,000	0.9%	1.5%	8,400	21,000
Kilruddery	780,000	11,70,000	0.9%	1.5%	7,000	17,500
Bodnant	520,000	780,000	0.9%	1.5%	4,600	11,700
Sanssouci	1,456,000	2,184,000	0.9%	1.5%	13,100	32,700
Forio	1,976,000	2,964,000	1.2%	1.8%	23,700	53,300
Forio Deeps	1,393,000	2,090,000	1.2%	1.8%	16,700	37,600
Forio South	416,000	624,000	1.2%	1.8%	4,900	11,200
Eastern Reef	11,667,000	17,500,000	0.6%	1.0%	70,000	175,000
Dawyck	204,000	306,000	2.0%	3.0%	4,000	9,100
Hampton	175,000	262,000	0.8%	1.2%	1,300	3,100
Boboli	94,000	140,000	1.2%	1.8%	1,100	2,500
Tiergarten	42,000	62,000	1.2%	1.8%	400	1,100
	31,775,000	47,660,000	0.8%	1.3%	259,100	626,700

Table 3 - Tollu Project - Target - Prospect Breakdown

Additional P Prospects Id dentified – Fo orio Analogu ues

The Compa prospects w prospects i previously i Prospects t (Figure 2). ny has ident within the a include; Hu identified pr to the west tified a furthe area to the ntington, D ospects of K of Main Re er five (5) "F east of the rummond, S Kilruddery, B eef have als Forio look‐ali e main Nort Stourhead, odnant and o been iden ke" prospect th‐South stru Exbury, and Prater Prosp ntified, being ts and three uctures. Th d Forio Sou pects (Figure g the Isola (3) previous he new Fori uth combine e 3). A furth and Butcha sly identified io look‐alike ed with the her two new rt Prospects deewsestessds

These prosp Forio Prosp pects have b ect with the been identifi Kilruddery a ed after a fu and Bodnant ull data revie t Prospects b ew from the being reprior success of t itised for fur the recent d rther drilling rilling at the .

Kilruddery Prospect

The Kilrudd prospect fo dery Prospec rms part of t ct is a serie the dilation s es of sub ve system runn ertical hydro ing parallel t othermal bo to Forio. dies expose ed at the su urface. This

Bodnant Pr rospect

The Bodnan forms part o nt Prospect i of the dilatio s a series of on system ru sub vertical nning paralle hydrotherm el to Forio. mal bodies ex xposed at the e surface. T This prospect

Forio South h Prospect

The Forio geophysics South Prosp data. This p pect is a se prospect form eries of sub ms part of th b vertical h e dilation sy ydrotherma stem runnin l bodies ide g south of Fo entified from orio. m Redstone

Huntington n Prospect

The Huntin prospect fo gton Prospe rms part of t ect is a seri the dilation s es of sub ve system runn ertical hydro ing parallel t othermal bo to Forio. odies expose ed at the su urface. This

Drummond d Prospect

The Drumm prospect fo mond Prospe rms part of t ect is a seri the dilation s es of sub ve system runn ertical hydro ing parallel t othermal bo to Forio. odies expose ed at the su urface. This

Stourhead P Prospect

The Stourh identified a head Prospe s a priority E ct is a seri EM Target. T es of sub v This prospect vertical hydr t forms part rothermal b of the dilatio odies expos on system ru sed at the unning parall surface and lel to Forio.

Exbury Pros spect

The Exbury data as a pr Prospect is riority EM Ta a series of arget. This p sub vertical rospect form hydrotherm ms part of the mal bodies id e dilation sys dentified fro stem running om Redstone g parallel to e geophysics Forio.

Figure 3 Tollu Prospects to the east of Eastern Reef ("Forio look alike")

Tollu Project (Redstone 100%)

Redstone's 100% owned Tollu Project is located in the southeast portion of the West Musgrave region of Western Australia (Figure 4). The Project is approximately 20km south east of the Blackstone Community on the Company's 100% owned tenement E69/2450 (Figure 5).

The Project consists of a large swarm of hydrothermal copper rich quartz veins in a mineralised system covering an area at least 5km2. Malachite rich gossans associated with quartz veins are exposed at the surface and form part of a dilatational system between two major structures within the Tollu Fault Zone.

Figure 4 - West Musgrave - Location Map

Figure 5-Tollu Project - Location Map

Mineral Resource and Conceptual Exploration Target Estimate

The initial Mineral Resource estimate at the Tollu Project is 3.8 million tonnes at 1% Cu, containing 38,000 tonnes of copper. The Tollu Mineral Resource was prepared by BMGS Consultants Pty Ltd, a Kalgoorlie based, independent geological consulting group and is reported in accordance with the principles of the Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves 2012 edition (JORC 2012). The Mineral Resource estimate is reported at a cut-off grade of 0.2% Cu.

Project Geo ology

Multiple fie purpose of with empha eld visits we constructing asis placed o re complete g the Target n paragenes ed by BM Ge t. Outcropp sis of minera eological Ser ping vein geo lisation. rvices (BMG ometries we S) to gather ere mapped r additional and measur data for the red in detail

Field obser dilatational Fault has be Zone situate rvations iden jogs caused een interpret ed to the no ntified that by the react ted as a dee rth (Figure 6 phases of tivation of a p‐seated tra ). mineralised regional sca ansform struc quartz vein ale reverse fa cture of the ning are loca ault (Tollu Fa NW‐SE striki ated within ault) (Table 4 ing Tjuni Pur low stress, 4). The Tollu rlka Tectonic

An early, un faulting) an interpreted created dila phases hav (Table 4). T niform, phas d is characte to represen atational jog e intruded d The mineralis se of veining erised by un nt the primar g positions w during this r sed vein pha g appears to mineralised, ry structural which have eactivation a ases are lenti o be related , banded, fe architecture been exploi and at least icular in shap to an initial rruginous qu e. Subseque ited by mine two of thes pe which lim l structural p uartz (Table ent reactivat eralised fluid se phases ap its their strik phase (prob 4). This init tion of this s ds. Several ppear to be ke width and ably reverse ial veining is tructure has quartz vein mineralised d length. el,ucessndtegs

	Strucctural Phase	Veiningg Type	Minneralisation	Veining size
Early	RReverse Fault?	Banded, ferruginous quartz	Unmmineralised	Uniformed veein widths outcropping forseveral kms
Reverse Faultt –Reactivationofinitial fault phaasecreating lowwpressure	Very coarse grained,interstittial quartz crysttals('Houndds Tooth")	Unmmineralised	Small scale lennses over tensof meters
		Fine graained buck quartz +malachiite	Loww grade Cu	Small, lenticular; 0.5‐2m widde and up to20m long at ssurface
	Faultedquartz + clay +malachiite	Higgh grade Cu	Small, lenticular; 0.5‐2m widde and up to20m long at ssurface
Late	dilatational joogs	Massivee buck quartz	Unmmineralised	Large quartz bblows up to 1000m long and30m wide

Table 1 ‐ T Tollu Vein Para agenesis identif fied during the e March 2014 fi eld mapping pr rogramme

The dilatati generally at to interpret ional jog po t intervals of ted mineralis sitions occu f 100‐300m. sed positions r randomly This observ s under cove along the st vation was u er. trike extent used as a pa of the Easte rameter to a ern and Mai assign tonne in Reefs but es and grade

The minera elevated co chalcopyrite alisation com oncentrations e and bornit mprises sub‐ s of cobalt a e at depth a economic to nd minor co nd malachite o ore‐grade oncentrates o e within the copper min of tungsten a regolith. neralisation, and silver. T occasionally The copper m y containing mineralogy is

Figure 6 - District scale structural interpretation illustrating the Tollu Fault's relationship with the Tjuni Purlka Tectonic Zone

(After Smalley 2014)

Drilling

Drilling data used for the Mineral Resource and increased Target estimate consisted of 147 holes for 29,612m of RC drilling and 3 holes for 1,174 m of diamond core. All holes were drilled during the period May 2007 to December 2015. The nominal assay sample length is 1m. All drill hole data was collected and stored in digital format with appropriate validation checks to ensure integrity of the database. Quality assurance and quality control ("QA/QC") techniques were applied as per all Redstone operations.

Drill hole collar positions have been surveyed by Trimble Differential GPS for easting, northing and reduced level. Data was collected in MGA94 Zone 52 and AHD. 100% of the drilled holes were surveyed. Down hole survey measurements were attained with an open hole Li Uhe north seeking gyroscope. All holes from the 2015 RC programme were logged. A suite of historical RC holes, which had not been previously surveyed, were also logged using the Li Uhe tool.

Figure 7 - Redstone Resources Drilling Map

Geological interpretation

The confidence of the geological interpretation is based on geological knowledge acquired from surface mapping, detailed geological DDH/RC logging and assay data. No alternate interpretations are proposed as geological confidence in each model is high. The dataset (geological mapping, RC/DDH logging, assays etc.) is considered acceptable for determining a geological model. Key interpretation assumptions made for this estimation are:

• (1) where cross cutting relationships were not observed;
• (2) the interpretation of the mineralisation from past known drilling limits (extrapolated a reasonable distance considering geological & grade continuity - not more than the maximum drill spacing).

The geological interpretation is considered robust and alternative interpretations are considered not to have a material effect on the Mineral Resource. As additional geological data is collated the geological interpretation is continually being updated. The geological interpretation is specifically based on identifying particular lithological boundaries, geological structures, associated alteration, veining and copper content. Whilst the geological features are interpreted to be continuous, the copper distribution within them can be variable. This issue is mitigated by close-spaced drilling/sampling and ensuring sample analytical quality is high through the use of QAQC processes.

Estimation & modelling techniques

Mineralised domains were based on the geological interpretation & mineralised trends. 3DM wireframes created by 20m spacing sectional interpretation of the drilling dataset. Where there was geological uncertainty, domain boundaries were modelled at a nominal 0.2% Cu lower cut. A minimum downhole interval of 1m is applied. Domain boundaries were treated as hard boundaries. 1m composites were generated based on database coding from drilling hole intercepts inside domain 3DMs.

The statistics for each domain were viewed and key statistical indicators used to describe the nature of each. No top-cuts were applied based on mineralisation type and geo-statistics. Estimation was completed using Surpac software version 6.6.4, utilising the block modelling module. Estimation was completed using a linear estimation technique for lodes that had in excess of 20 composite sample points. Inverse Distance Power 2 (ID2) was employed for grade interpretation.

Composite average grades were used to apply to mineralised lode with less than 20 composite points. Sample search ellipses were set based on data spacing, lode orientation and extent. Minimum & maximum samples were set for each sample search based on accepted levels of grade continuity. Search distances were based on sample spacing & spatial continuity. A total of 3 search passes were conducted with progressively relaxed search criteria to accommodate the data density.

No assumptions were made regarding recovery of by-products during the Mineral Resource estimate. The estimation of deleterious elements was not considered material. Block sizes were chosen to compromise between sample spacing & orientation of mineralisation i.e. Parent blocks 20m(X) by 20m(Y) by 5m (Z), sub blocking to honour variably lode shape $1.25m(X)$ by $1.25m(Y)$ by $1.25m(Z)$ . No correlation between variables was necessary. The 3DM/DTM wireframes for the mineralisation domains, regolith and topographical files were used to constrain the resource estimate. Blocks from the block model were coded based on these volumes/surfaces by either block centroid in/out of 3DM or above/below a DTM surface.

Model validation has been completed using visual and numerical methods & formal peer review sessions by key geology staff.

Metallurgical Assumptions

No metallurgical assumptions have been made for this Mineral Resource and Target. It is assumed that mineralisation is easily recovered through density separation, after crushing and grinding; with no known impurities or contaminates. Future test work is required to better understand the metallurgical properties of the potential ores.

Bulk Density Assumptions

No bulk density measurements have been completed at Tollu to date. Bulk density assumptions were used for the major regolith units and are consistent with values used throughout the Eastern Goldfields.

Completely Oxidised	1.8 $t/m^3$
Transitional	2.5 t/m 3
Fresh	2.7 $t/m^3$

An over-density value of 2.6t/m3 was used for the Tollu Mineral Resource and Target, which was calculated based on the majority of the target zone being in fresh rock and a small upper portion in transitional material.

Competent Persons Statement

The information in this report that relates to exploration results, Exploration Targets and Mineral Resources was authorised by Mr Darryl Mapleson, a Principal Geologist and a full time employee of BM Geological Services, who are engaged as consultant geologists to Redstone Resources Limited. Mr Mapleson is a Fellow of the Australian Institute of Mining and Metallurgy. Mr Mapleson has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration to act as a competent person as defined in the 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Mapleson consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

ABOUT REDSTONE RESOURCES

Redstone Resources Limited (ASX: RDS) is a Perth-based company focused on highly prospective copper exploration properties in the West Musgrave region of Western Australia.

Redstone's 100% owned Tollu Project is located in the southeast portion of the West Musgrave region of Western Australia. The Company has also identified the potential for a number of other projects on the Tollu tenement (E69/2450) in addition to the Tollu Project.

For further information please contact: Richard Homsany Chairman Redstone Resources Limited +61 8 9328 2552 contact@redstone.com.au

Andrew Rowell / Warrick Hazeldine Cannings Purple +61 8 6314 6304 arowell@canningspurple.com.au

JORC Code, 2012 Edition – Table 1 report Tollu Project June 2016

Section 1 Sampling Techniques & Data

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

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	Co(Whehelogingisliiveiiveinttatttatturrgquaor quannae.reor	Gelogicallogingisliived qiiveintatttattuogquaanuannare
	hal,)hohyteatc.togcosn,cnneeprap	RCholeslogdinlbais.Wheleis1mtearegeonarvasrenosamp
	Thellenh&fhelevinionlogd.totattagtttertgpercene oreansecsge	dduidslosle,iislogdddedtutot strerneevoorampgeanrecorash.suc
Sub-lingsamphn&	If chehe&hehehalf oll ckett ottertaore,wr cur sawnwr quarr aoren.,
iqtecueslesampiontprepara	If nheheiffled,beled,li&hehettutart,tc.ton-corewr rsamproyspewr,leddryt osampwer	AllRCbleslibyliimtttet atesu- samperespaconespr anapproxaw8:1raiod cllecdind clicobattetoanoa sequenceag.
	Foll sleheli&iafhetytturtytentr aamppesnae,quaappropress o,leionhniqttecsamppreparaue	Theleiondudbyheiallabottettosamppreparawasconccommercrary
		RClesbmidiallaboiesfottetotosamperesucommercrarr assayw
	Quforlil pdudodll sb-lingtytrotetagtoaconroceres apasampsesuimiseivif slesttymaxrepresenoamp	Saleionisedfolldrillingigincludedtmppreparasummarr acampans,,f:°C°Cll odrbe85d105jhingttwarparooveneenanaw-crusy,(inal10m)&liing3kgired,lveizeletttotonommasreuursam
	Mkehahelingisivefheintatottttatteasuresnensuresamprepresenoiial cllecd,includingforinslforfieldtutertetantssmaoceresu/sdulicad-half slingtepeconampfWheheleizeiaheinizeheialttetottterr sampss areapproprgrasomabeingled.samp	spqpp90%ing75upassm>
		All sb-ling&laboioniceifiedbytotttusamprarypreparaspracsarecerhelaboddhrhohettotttraryanmeasureouguprocess
		SalesbmidhelaboddiledttetottotempsuraryaresoranreconcinshebmissiondoTheiallaboiestttstoagascumencommercraruleheir oinlQChek.tettecompwnrnacc
		C(Rfielddulicadallecdinely4dulicatetatettepwascoroupseveryles).Fielddulicaleskeheimf100tetatttsamppsamperenaeow/riffleliinghebulk slehedrill rigininlettttttotaconespampamasampThefielddulicabmidfoinghet.tettetsupporpsaresur assayussameiondboihhelabofhettttotprocessmeneavewraryunawareo,dulicaNoDCdulicahabellecd.tetutetepnarepsveenco
		Saleizeidediaheinizefhetetottmpssareconsreapproprgrasoffaialbeingledhebaisisdulicatetttotemarsamponsosacryp

Criiater	CCoioJORdelantexpan	Cotammenry
		laionll sfhelelleciontt atattcorres agesosampcoprocess
QuliftyTheli&iafheturtytentaonae,quaappropress oda&tadud&hehehehniqistttecassayproceres usewruelabotorl.totaraytestsFohyicalls,hadhetootroterr geopsspecmes,nhedindeininghetc.tterterteparames usem,inske&del,dingimlitrut mtmenamoreaesca,&heirdeivaiontttc.re,	ing&labotorassayrayided pial otconsrearr	Theing&labodudeigdltotototaassayraryproceres aresnemeasuredhekeleminhele.Thelabottsttocopperanoryeensampraryduidediafoheingf ctettettproceresareconsreapproprrsoopperahisdeitt.pos
	ldXRFinstruts,menlyisincludinganasfacbrionliedttorass app	Salesdigdby4iddigdlydbytetmpwereesaacesananaseInduivelyColedPlasOpicalEmissionSp(ICPtttrotrycupmaecmeOES)InduivelyColedPlasMaSp(ICP-MS).ttrotryorcupmassecme
	(Naf qlil pdudoddadsblanksturtytrotetane ouaconroceres ape.g. sr,,dulicallaboheks)&heheblelevlsftestertorttapexnarayccwr accepeo,(i.elack ofbias)&pisionhabeblished.taaccuracyrecveenes	Sofoleslydld.Thelydby50gmesampereanaser goseereanasewwhaFireAsihAicAbsionSpfinish.ttottrotrycrgesaywanmorpecmeThefirehniqinvlveding40glehaihtetassaycueousasampcrgewaleadfluxhichisdedinfuihhelingilltttwcomposearnace,wresupr,(CO)beingllydigdby2idsHI&HN3befoftotatet oesacremeasuremenheld cbyICP-OESAAShinettetgoonnanormac
		AHadheldNITONXli00XRFinsddefine7trut wtonmenasuseareasf alouinelisaionTheinshadlibrionttruttonomas coppermramenacaa0 slestet e5sveryamp
		Salesbmidhelabod&iledinsttetottotetmpsuraryaresorreconcagahebmissiondoCeifiedRefeMaial(CRM)ttsttescumenrrenceru()dads&blanksinelyinsdinhelingtattetotsnrwererouersampfReinghat ate1:50.t rsequencearaocene-assayprogrammesveChadRM'sinsd aiof1:35.tet aterrao
		QCTheiallaboiesdekeinlheksNototatecommercrarnrrnaccubaflushedekebedinelisedtztatwterren quars wereunrneen expecmra()leinlhilelveizingtesamprvasprwu
		IisknhadudfoQCltt ptsunown wrocerewas user anyerroneousresu
Veificaionftroling&samp	Theificaionf sigificainionbyiheindedettterttt overonnsecserpennrlivel.tertanacompanypersonne	Indedeificaionfigificainionhabettttetpennverosnnrsecssendudbyindedelogical gtet gconcanpenneoroup
ingassay	Thefinndholestwseoeu	Primloging&lingdallad aheleionfhetatettttarygsampwas cocompo
	Doionf pimdadadudatatta,tatrytacumenoraryenproceres,()ificaiondahyical&lecicls.ttatortrotocversagepsenproo,	drillingHoheigificaimlapdtttprogramwever,rewasasnneseanl chabefohisinfoionlisediningletttratopersonnengerermaascena swdabatase
	Discdjdatmttota.uss anyausenassay	Nodjlibriondedadintmtsttotaausenorcaas weremaanassauseyy

Criiater	CCoJORdelaniotexpan	Cotammenry
		histt.repor
		Dedicad'twinndholes'habedrilled ahisjtetttt.evenoenproec
Loionftcaodaintatspo	f s(Ac&lidlocdrillholesllar&tytotecuracyquaourves useacoydo-hle),heineking&helociondtrettwnosurveysncs,mworsoras useinMinelReimionttrasourceesa	foAlldrillholeshabedinghing&dudttveensurveyer easnorrece,levl.DallecdinMGA94Zo2&AHD.tate5ewas coneDrillholellariionhabedbyTrimbleDiffeialttcopossveensurveyeren
	Spificaionfheid sd.tttemecogrsseyu	GPSfofhedrilledholes100%tro
	Quli&defhicl.tytoptroaaquacyoograpcon	DoholeinedihholeLitsttatwnsurveymeasuremenwereawanopenfroCUheh skingAllholeshe2015Rttnoreegroscope.mprogrammeylogd.AifhisicalRCholeshichhadbetetotweregesuorwnoendioulylsologdingheLiUhel.ttosurveeprevswereageusoyTohicl wdfroixfTrimbleGPStrotetupograpconasgeneramamreoGS.dPan
Daingtaspac&disibuiontrt	forfDaingingExlorionReltattts.spacreporopasuWhehehedaing&disibuionisfficienblishhetttatrtttotatrspacsuesdef glogical&deinuiiaforheMinelttytetgree oeograconapproprraRe&OrReimiondu()&clasificaiontttsourceeserve esaproceressslied.app	Abefheinelisedhaivedlowdeittynumr omrazonesvereceaverynsfdrilling(drillinglorion).ttoscouexpaprograms
		fInheinelisaionhabedlytteareasreazoneomrasenrepeawd,hedrill singis430mtatet5mrgepacx
	Wheheleiinghabelied.ttr sampcompossenapp
Orienionftatodaintalaionttore	Wheheheienionf slinghievbiasd slingftttatroroampacesneampouible&hehichhisisknideingtruturttenttotpossscesexwown,consrhedeitttypospe.	OpimldrillinionleshievddudrillingttetttoarsecangwerenoaceelafolimiionThelimiiondbyhehighttattattprms.seswerecausehicliefinhejtott apograpreproecrea.
logicalgeotrutursce	Ifhelaionhipbehedrillingienion&heienionftttwttatttatreseenororokeinelised sisidedhaindud atruturtotroymracesconsrevecelingbiashisholdbed&dif mial.ttetersampsuassesserepora,	Taiesll udedheimfdrillingt gtrt wtotttrgeeomewerenoenrsoaeohichldinldrillholeshainglowiniontetetwresuseveravveryrseclesihhedhefolyinflainghetttttangworezoneanreregrossinelisaionidh.ttmraw
Salempitysecur	Thekeleitatoty.measuresnensuresampsecur	Hisiclesdhabedeheifhetotottytrsampareassumeveenunrsecuro/oiveholdeildelivedhettettottotrespecnemenrsperarsunreiallabohelesldbedhatotetocommercrarywresampwouexpecvebedeicd atrteenunr resccess.
Auditsoriewrevs	f af sTheldiiewlinghniq&datststecta.resuonyauorrevs oampues	fThehabeleddihelinghniqdtet otteresennocompausampcuesandaAf clisingdahalybeledtatratatstteprocessoenses recenencompffdhisivihaideiiedbeisshichbeingtttytanacsnanumr ouesarewddrdduingS1aiviiestattaessergec

Section 2 Reporting of Exploration Results

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

Criiater	JORCCodelaniotexpan	Cotammenry
Minelra&lantentemendtenuretatuss	/nTyferbelocion&hipincludingtpe,reencenameumr,aownersialissihhird piesh ajintsterttttagreemenormaues warsucsohipidingliesiveileinturtnettttterts,venesparrss,overrroyanaes,,hisical siildeionl pk&irol singtortesttattrness or naaarennmenes.wv,	/().TheTollujislocd wihinE692450WAuliaThisttettetraproecaesrnslorionliceisheldbyRedsRettoexpansenesources.Theind sding&knimdimistetstatst.nemenaregoonnoownpeenex
	Theifheheld aheimf ringlonih atyttentttttsecurouree oeporagwnyknimdimbiningliceinhetstotatotetownpeenoanceoperaarea.
Exloriontpadobyhetneoriestpar	Acknledg&isal of elorionbyheiesttttowmenappraxpaor par	Thehabelimidloriondekebyhetetttatresenrecenexpaunrnoriestpar
Gelogoy	Deilogical sing&lef minelisaionttytttytpospe,geoesora	Theiciginislydeiewttgeneorcurrenunr rev
DrillholeInforiontma	f aforfAllinionialhededinghettertottantsummaromamanrsoyulorionlincludingbulaionfhefollowinginforionttstatttexparesuaomaforllMaialdrillholestera:	SeApdix1epen
	Eaing&hingfhedrillholellartttsnorocoo
	levionRL(RedudLel –levionbolevlintteaorceveeaaveseaeo)fhedrillholellartretmesoco
	dip&imhfheholettazuoo
	doholelenh&iniondehtterttwngceppo
	holelenh.tgo
	Ifhelusionfhisinforionisjified ohebaishahettttttttexcomausnsinforionisMaial&hislusiondodefrohetttertttrattmanoexcesnocmdedingfheheCoPehold clealytantt,ttentunrsorepormperson srulainhyhisishettexpwcase
Dataiontaggregahodstme	IningExlorionRelighinginghniqttts,ttecreporpasuweaveragues,imd/oinimdeion(ingfhightrutttmaxumanr mumgrancase.g. cuo)de&cff gdellyMaial&holdbed.t-otertategrasuras areusuasus	fAlldinelinlculadinglenhtetetstetrepormrarcepwerecausgoinighdTheiminimtet wtercepeaveragesrewerenomaxumor mumionlied.trutncas app
	Wheinincholenhsfhigh gdetetertstettreaggregaceporporasrgora	Minelindefined alesdingCutets0.3%rarcepweres sampexcee
	l&lonlenhsflowdelhedudfortstts,tresugergograresuprocereusef sh aionholdbed&ical eleshttatetysucggregasssomepxampoucu	Wheinholenh,inldiluiondidtetstttettrercepwereonasrgrnano

Criiater	JORCCodelaniotexpan	Cotammenry
	ionholdbehoindeil.ttaaggregas suswnTheiondforingf ml eivalenluetttat vassumps useanyreporoeqasuholdbelealyd.tatesucrs	fd2Wheininhede10'stretetsttreexceemes.rercepwereorr omes,inldiluionldbeded4bulyifhetettetotrettrnacouexnmes,oninelisaionbsdindrill chipdrill cdhettettwmraoervesororesuggesofheinelising(i.edbyt otttezoneswereparsamemraeven. separaaf c).larlask wihinbriat otryttege counrocaeccsysm
Relaionhiptsbetween	fThelaionhipicularlyiminheingtttantttseress areparporreporoExlorionReltts.pasu	IninsheDial piionfinheihtat3tttetstottmanyncesspaosorcepger wdfabledellingffficientmappesurceoccurrences;enamoosu
inelisaiontmraidhs&twintertcep	Ifhefheinelisaionih rhedrillholettrytttttotgeomeomrawespecleiskniholdbed.tsturteangown,nae surepor	fideidhsfinWheiblehistottruttetstconncereporeorcepreposswhabeided.senprov
lenhstg	Ifiiskn&lyhedoholelenhsd,hetttttetnoownonwngarereporreffec('doholdbeleahisholelenh,tatemttottttrusacr senee.gwngeuidh nkn').ttwoown
Diagrams	()Apia&ionih sles&bulaionfintetttattertsproprmapssecswcas ocepholdbeincludedforigificadiscbeingdThettesanysnnoveryreporseuholdincludebubelimidlaniewfdrillholellart nttetosuoa pvoco,locion&iaionl viewttetasapproprsecas.	SeApdix1.epen
Balandceingtrepor	Wheheiveingf allExlorionRelistttstrecomprensreporopasuno/oicable,iveingfbohlow&high gdedttatttpracrepresenrepororas anridhsholdbeicedid misleadingingftttotwsupracavoreporoExlorionReltts.pasu	AllExlorionRelding0.3%Cuhabed.DrillttstepasuexceeveenreporholesihlhahahishrholdhabettsttttttwresuvenomeesveendinlonionddeibedhaingNoSigificatettrepresengsecanscrasvnn(S).InionNItetrsec
Ohetrbsivetantsuloriontexpadata	Of mfuheloriondaiingl&ial,holdbedttta,terter expaeanmasreporuincluding(bulimid)logical obsionhyicalt nttetoto: geoervas;geopslheical slbulk slests;ts;surveresugeocmurveresuampyy–ize&mhod oflluricallbulkdeittretmt;tatest rts;ty,seaenmegesunsdwhnical&k chaisicsialtertecterttentgrounageorocrac;po,deleiouinaingbstertamttans or consuces.	Noheloriondallecdisidedialhistttatetetotorexpacoconsremart.announcemen
Fuhektrr wor	The&lef plandfurhek(forlalturtteststernaescaoner wore.gaiondehionlarledrilling).tenttenteptexss orpexss orge-scas-ou	Adeiledlogical adhyical sdyisdedtatutogeongeopsrecommenideifydjf pivitt attynaacenreasorospec
	Diaglealyhighlighinghef pibleiontttenramscrareasoossexss,includingheinlogicalinion&fudrillingttertatturmageopreseareas,idedhisinforionisiallyiivettt ctprovmanoommercsens	Cringdeiled3Dlogical mdellingfhejttatt aeaageoooproecrea

Section 3 Estimation & Reporting of Mineral Resources

(Criteria listed in section 1 and where relevant in section 2, also apply to this section.)

Criiater	Cotammenry
Dabainitategtyser	RDSiliseMicrfAcdabafoheldaValidaionheksdlaionlinibuilintttattratatotetttetyttousaosocesssercensragesysmccanreagrarehedabadainslid.ttatotaseensureremava
	froNedaddrillinglogingdlingisdbyl sdshedlidadbyisingdabatatetetstettawgeneramgansampexporexcepreaeanvaexse,ls.toproco
	ThedabaisllydbyDabaMahoisiblefoll afdalidaiondeloptatratatstatrytt,secenmanageasenagerwresponsr aspecoenvavemen,,lil&ialisiesTheisdad sif viglidaionheksfolldatytrot qtatettaquaconspecuerrea snruoorous vaccr a
Siisitetsv	TheCoPefohisimisfullimloyfBMGS.BMGSiorff cledfieldingdtettttettatempenrsonrresourceesaaeempeeosensompmappan().isionf rdrillingiDebe2015Theisfidehahefrolingtt stetet pttttsupervoecenprogramsacemrcompenersonconnprocessesmsamphrhhefinalblock mdel eimionfoheMinelRedindudadsttottttt otrytaougosarrasourcemeer exceessnr,
Geloicaloginiotetatrpren	Thefidefhelogicalinionisbadlogicalknledgiredfrofaingdeiledlogicalttetattaconnceogeorpreseongeooweacqumsurcemappgeo,/CDDHRlogingd adaNoliniond alogical cfideinh mdelishigh.tatetetetatganssayarnarpres areproposes geoonnceeaco(C/)Thedalogical mingRDDHlogingisidedblefodeininglogical mdel.Ketattctatesegeoappgassayseconsreacceprrmageooy,,inioniondefohisimion()heinglaionhipbsd;&()hetetattttt1tttt2trpreassumpsmaresaarerecrosscresswerenooerve:wuinionfheinelisaionkndrillinglimi(ladbledisideinglogical&detetatttttstratetarpreomrapasownexpoareasonanceconsrgeograinuihaheimdrill sing).ttyt mttconnoorenmaxumpac–Thelogicalinionisidedbudliveinionidedhaial effehetetatt atettetatttotet otgeorpreconsrerosnarnarpresareconsrenoveamarcnMinelReAsddiionl glogicaldaislladhelogicalinionisinullybeingdad.ttatettetattterasourceaaeocogeorpreconaupffyThelogicalinionisiicallybadideiingicularlihologicalbodaieslogical siadtetatttttrututegeorprespecseonnparunrgeocres,assoc,lioniningd ctettet.araveanopperconn,Whilshelogicalfeindbeinuhedisibuionihinhebeiable.Thisissistttutetetotttrtttgeoaresarerpreconous,copperwmcanvarue/saQQCiigdbylosddrillinglingd einglelyical qliishighhrhhefAttettyttmace-spacempannsursampanauaouguseoprocesses
imioDensns	(G).TheTolluisiallylocdbe437,400mE&438,960mE&7,107,300mN7,109,300mNMA94Zo51ttetwtoresourceareaspaaeenneMinelisaionisbsdd alea300mbelowhel sfattotetttotturaoerveexnsnaraurce
	Co()froinelisaiondellediniouienion335de010deddipingicalinu70.ttatttoppermraasmovarsorsggansrangmvermsw–Minelisaionbelledbyionl sdisincideihiningMinelisedlodeinikettotrotrutut wttztrraappearsconregacres,anconquarverasvarysfrof mffrolenh10'sin300mLodehickn0.5m4minhicknttetottrutgmoersexcessoesses rangemeess.–
Esimio&ttandellinhniqtemogcues	Mineliseddoinsbadhelogicalinion&inelisedds3DMirefradby20mingttetattreteramawereseongeorpremranwmescreaspacionlinionfhedrillingdaWhehelogical uindoinbodaiesdelledinalttetatttat.ttatyt asecarpreosererewas geoncermaunreremoanomw,Cu0.2%lowAinimdoholeinl of1mislied.Doinbodaiesd ahadbodaiest.tetreteercumumwnrvaappmaunrwereasrunr

Criiater	Cotammenry
	1midbad odabadingfrodrillingholeininsidedoin3DMstetetatetscomposs were generasensecomrcepmafof eTheisicshdoiniewddkeisicalindicaddeibeheh.Noliedtatttatttotottutotssr eacmawereveanysrsusescrnareoacp-cuwereappbad oinelisaiond gisicsttytattsen mrape aneo-sEsimionledingSufionilisingheblock mdellingdule.tttetw6.6.4,ttawascompusrpacsoare versuomoEsimionledinglineimionhniqfolodehahadinfileinInvtttetttett20tetsawascompusaaresacuersexcessocompossamppoerse()foCoDisPo2ID2loyddeinionidedlyinelisedlodeihtatetattetototncewerwas emper grarpremposaveragegras wereuseappmrawlesha20 ciinttetssnompospoSalehllipbaddainglodeieniondMinim&imlesfohttatattet.tmpsearceses wereseseonspacoranexnummaxumsampwereser eac,f gSelehbaddlevlsdeinuihdisbadleing&ial cinuiAtettytatttysampsearcseonaccepeoraconarcnceswereseonsampspacspaonl of3 sh pdud wih pivelylaxd sh ciiadahedadeitotatettetotettatyearcasses were concrogressreeearcrraccommonsNoiondedingfbyduduingheMinelReimttsttteassumps weremaregarrecoveryo-procrrasourceesaTheimionfdeleioulemidedial.tttetst cteesaors eenwas noonsremarBlock sizehoisebeleing&ienionf minelisaioni.ePablocks20m(X)by20m(Y)totwtattts werecsencompromeensampspacororaren(),()()().by5mZbblockinghoiablylodeha1.25mXby1.25mYby1.25mZtosunourvarspeNolaionbeiablesttwcorreeen varasnecessarywTheDM/DTMirefrafoheinelisaiondoinslihdhicalfilesdinhe3ttttototratmesrmramaregoanpograpereuseconsresourceww,imBlocksfroheblockdel wdedbadhelum/sfabyiheblockidin/of3DMttettttrot oesammoerecoseonsevoesurcesercenuorbo/belowDTMfaaveasurceModel vlidaionhabeledingisul adical mhods&fol piewionbykelogff.ttettaasencompusvannumerermaeer revsesssygeoys
Mistuore	Toimd odrbais.ttennagesareesan ays
Cuff pt-otearamers	Cuff rCufoingdeinallybad ohe0.2%iiainelisaioninionTod gdedt-otttettetatteeporgras arenomsencrrr mrarprennesanras werereporinsideineliseddoinsmrama
Mininfatogcrsor	Thelikelybeinedilisingiininghodstott mtresources aremuopenpme
iotassumpns	Theinimidh of1misdbeiniminingidh.ttotmumorewassumeamummw
Melluicalfatatorgcrsiotorassumpns	Noionfahabeliedheimdinghellurical abilittototttettatyassumporcrsveenappresourceesaregarmegmena
Enirolfatatovnmencrsiotorassumpns	Noionfahabeliedheimdingirolfattototttetatoassumporcrsveenappresourceesaregarenvnmencrs
Bulkdeityns	Insi-blkdeiies(ISBD)liedheimbadical vlueliedlicablelihologiesdtuttotttetytotunsappresourceesawereseonpasappappanfffheingilesinldieldsionWAulia.tttetrawearproapparengoregoesrns
Clasificaiotsn	fffofaThelasiicaionhekeinhellowingtttatotttocsoresourcesaccouncrs:Drill singd oieniontatpacanr;oCff slasiicaiondingblockstsourroun;oCofidef cinfhelogical mdel;dtatstnnce oerparogeooano

Criiater	Cotammenry
	Poionfhedeilikelybeiablyined.ttttors oposvmo
	fffCoThelasiicaionllecheiewhePett rtstttetcsresueompenrson.v
Audiietsorrevws	TheMinelRehabellydid.tteterasources noenernaaux
Disiof rlaivetcussnoe/ cfideaccuracyonnce	TheMinelRehabedindaihheidelinefhe2012diionfheAulasianCodefotettttttrarasourcesveenreporaccorncewgusoeosrOrReingfExlorionRelMinelRe&Re&flechelaivefheMinelRetttststttporopasurasourceseservesrereaccuracyorasources,imTheCoPedehebeinlineihindudadsfoimion&hefoihinttetetttottrytattttesampenrsonemsprocesswssnrr resourceesarerewbleisical elimitatatttsaccepsrror

Hole_ID Prospect MGA94 (Zone 52) RL (m) Dip (degree) Azim (degree) Depth (m) From (m) Intersection Width (m) Cu (%) Easting Northing Down hole (m) True Width (m) TLC001 Prater 438520 7108401 567 ‐60 266 49 IFA TLC002 Prater 438539 7108401 567 ‐60 266 79 IFA TLC003 Prater 438580 7108401 563 ‐60 266 88 IFA TLC004 Sanssouci 438195 7108801 581 ‐60 266 79 NSI TLC005 Chatsworth 438017 7108642 596 ‐60 246 52 IFA TLC006 Forio 438712 7108998 556 ‐60 266 27 NSI TLC007 Forio 438692 7108998 556 ‐60 266 100 IFA TLC008 Killruddery 438833 7109213 561 ‐60 86 162 IFA TLC009 Killruddery 438840 7109002 563 ‐60 95 186 96 2 N/C 3.11 TLC010 Unnamed 439519 7107793 562 ‐60 315 306 NSI TLC011 Forio 438522 7108776 571 ‐60 100 174 134 5 N/C 1.10 TLC012 Chatsworth 438058 7108637 591 ‐60 240 168 126 14 3.50 TLC013 Chatsworth 437970 7108757 589 ‐60 85 47 NSI TLC013B Chatsworth 437969 7108759 575 ‐60 80 168 NSI TLC014 Unnamed 439585 7107072 561 ‐60 266 132 NSI TLC015 Chatsworth 438087 7108554 585 ‐60 266 246 178 20 2.46 TLC016 Chatsworth 438031 7108681 598 ‐60 245 222 NSI TLC017 Chatsworth 438044 7108659 595 ‐60 245 186 NSI TLC018 Chatsworth 438066 7108641 591 ‐62 238 198 142 18 2.08 TLC019 Prater 438461 7108250 578 ‐60 240 240 99 6 0.94 TLC020 Chatsworth 438109 7108556 583 ‐60 266 235 96 1 1.33 TLC020 Chatsworth 438109 7108556 583 ‐60 266 235 187 12 2.75 TLC021 Chatsworth 438132 7108555 580 ‐60 266 271 248 6 1.80 TLC022 Chatsworth 438100 7108657 587 ‐60 240 13 NSI TLC022a Chatsworth 438102 7108657 575 ‐60 240 235 201 5 2.6 1.51 TLC023 Chatsworth 438110 7108600 586 ‐60 236 259 209 11 1.57 TLC024 Chatsworth 438120 7108515 582 ‐60 260 247 193 11 1.36 TLC025 Boboli 438150 7108518 579 ‐60 260 286 IFA TLC026 Killruddery 438700 7108400 566 ‐90 0 252 74 1 N/C 1.4 TLC027 Eastern Reef 438210 7107600 580 ‐90 0 226 IFA TLC028 Unnamed 438800 7107400 564 ‐90 0 150 IFA TLC029 Unnamed 438565 7107400 567 ‐60 266 253 187 5 0.75 TLC030 Chatsworth 438070 7108510 584 ‐60 266 127 87 8 1.44 TLC031 Chatsworth 438090 7108510 583 ‐60 266 157 126 9 2.82 TLC032 Chatsworth 438075 7108550 586 ‐60 260 121 55 9 3.08 TLC032 Chatsworth 438075 7108550 586 ‐60 260 121 100 7 2.45 TLC033 Chatsworth 438060 7108600 592 ‐60 266 139 100 5 2.21 TLC034 Chatsworth 438080 7108600 590 ‐60 266 175 136 14 1.49 TLC035 Chatsworth 438090 7108470 581 ‐60 266 139 90 4 2.8 0.92 TLC036 Chatsworth 438120 7108470 579 ‐60 266 199 NSI TLC037 Hampton 438220 7108400 570 ‐60 266 247 NSI TLC038 Chatsworth 438105 7108435 580 ‐60 260 200 70 6 2.26 TLC039 Prater 438135 7108430 580 ‐60 260 250 43 4 1.73 TLC039 Prater 438135 7108430 580 ‐60 260 250 181 3 0.67 TLC040 Sanssouci 438260 7108750 580 ‐60 260 301 IFA TLC041 Eastern Reef 438460 7108400 577 ‐60 274 247 NSI TLC042 Eastern Reef 438470 7108300 575 ‐60 274 250 247 3 4.98 TLC043 Chatsworth 438040 7108675 598 ‐60 240 223 NSI TLC044 Hampton 438230 7108405 570 ‐60 86 250 92 2 0.51 TLC044 Eastern Reef 438230 7108405 570 ‐60 86 250 167 1 N/C 0.76 TLC044 Eastern Reef 438230 7108405 570 ‐60 86 250 190 1 N/C 0.30 TLC045 Eastern Reef 438461 7108297 575 ‐60 266 401 232 27 9.9 1.45 TLC046 Eastern Reef 438308 7108300 585 ‐60 86 163 IFA

Appendix 1: A drill hole summary table and a plan section showing the collar locations of the relevant drill holes.

	Prospect	MGA94 (Zone 52)							Intersection Width(m)
Hole_ID		Easting	Northing	RL(m)	Dip(degree)	Azim(degree)	Depth(m)	From(m)	Downhole(m)	TrueWidth(m)	Cu(%)
TLC047	Eastern Reef	438288	7108300	582	‐60	90	181				IFA
TLC048	Hampton	438251	7108300	578	‐60	90	319				IFA
TLC049	Eastern Reef	438200	7108298	575	‐60	86	355	284	6		0.85
TLC050	Eastern Reef	438230	7108000	575	‐60	90	247				NSI
TLC051	Hampton	438105	7108290	576	‐60	86	235	72	4		1.69
TLC052	Prater	438465	7108280	577	‐60	270	319	192	3		1.23
TLC052	Prater	438465	7108280	577	‐60	270	319	200	1		0.29
TLC052	Eastern Reef	438465	7108280	577	‐60	270	319	271	22	8.3	1.31
TLC052	Eastern Reef	438465	7108280	577	‐60	270	319	301	3	1.1	0.36
TLC053	Chatsworth	438172	7108280	574	‐60	90	403	299	8		0.81
TLC054	Eastern Reef	438438	7108260	577	‐60	269	325	199	5	2.3	0.62
TLC054	Eastern Reef	438438	7108260	577	‐60	269	325	276	23	10.6	0.81
TLC055	Prater	438475	7108295	573	‐60	266	355	158	3		0.76
TLC055	Prater	438475	7108295	573	‐60	266	355	244	1	N/C	0.32
TLC055	Prater	438475	7108295	573	‐60	266	355	266	4	N/C	0.22
TLC055	Prater	438475	7108295	573	‐60	266	355	280	5	N/C	0.28
TLC056	Prater	438469	7108323	576	‐60	266	319	244	1		0.32
TLC057	Unnamed	438370	7107405	568	‐60	90	217				IFA
TLC058	Bodnant	439860	7109860	558	‐60	270	247				IFA
TLC059TLC060	UnknownPrater	438150438479	71074007108276	572576	‐60‐60	90266	295331	247	2		0.96IFA
TLC061	Eastern Reef	438130	7107700	577	‐60	90	379	306	6	N/C	0.43
TLC061	Eastern Reef	438130	7107700	577	‐60	90	379	333	2	N/C	0.41
TLC061	Eastern Reef	438130	7107700	577	‐60	90	379	340	2	N/C	0.49
TLC062	Hampton	438172	7108280	575	‐60	270	280				NSI
TLC063	Unnamed	439295	7109140	562	‐60	220	241				NSI
TLC064	Hampton	438120	7108255	576	‐60	86	265	217	2		1.00
TLC065	Chatsworth	437930	7108665	582	‐60	86	223	89	6		0.82
TLC066	Chatsworth	438750	7108702	566	‐60	270	295				IFA
TLC067	Forio	438635	7108700	567	‐60	270	283	151	8		0.98
TLC068	Forio	438551	7108899	569	‐60	90	295				IFA
TLC069	Chelsea	437740	7107900	599	‐60	264	193	140	3		1.79
TLC070	Hampton	438201	7108261	576	‐60	270	271				IFA
TLC071	Hampton	438200	7108300	575	‐60	270	241				IFA
TLC072	Hampton	438100	7108340	573	‐60	90	247	162	3		2.66
TLC072	Hampton	438100	7108340	573	‐60	90	247	47	5		1.17
TLC072	Hampton	438100	7108340	573	‐60	90	247	186	1		0.86
TLC072	Hampton	438100	7108340	573	‐60	90	247	204	6		0.63
TLC073	Hampton	438060	7108340	574	‐60	90	295	191	2		2.90
TLC073	Hampton	438060	7108340	574	‐60	90	295	254	4		0.78
TLC075	Hampton	438140	7108340	572	‐60	90	428	308	1		1.33
TLC075TLC076	HamptonEastern Reef	438140438185	71083407108340	572572	‐60‐60	9086	428402	151238	21		1.741.29
TLC076	Eastern Reef	438185	7108340	572	‐60	86	402	267	23		1.45
TLC076	Eastern Reef	438185	7108340	572	‐60	86	402	131	1		1.70
TLC077	Eastern Reef	438225	7108340	572	‐60	86	265	227	12		1.65
TLC077	Hampton	438225	7108340	572	‐60	86	265	160	1		1.25
TLC078	Eastern Reef	438180	7108380	571	‐60	86	325	287	11		2.03
TLC079	Eastern Reef	438060	7108380	573	‐60	86	625	407	1		1.28
TLC079	Hampton	438060	7108380	573	‐60	86	625	269	1		0.83
TLC079	Hampton	438060	7108380	573	‐60	86	625	299	6		0.80
TLC079	Hampton	438060	7108380	573	‐60	86	625	358	1		1.31
TLC080	Chatsworth	437773	7108555	604	‐60	86	499	424	13		2.95
TLC081	Chatsworth	437799	7108646	605	‐60	86	499	340	2	1.6	1.47
TLC081	Dawyck	437799	7108646	605	‐60	86	499	81	1		0.33
TLC082	Dawyck	437850	7108645	603	‐60	86	325	31	2		0.81
TLC083	Dawyck	437935	7108460	589	‐60	86	301	28	1		0.59
TLC083	Chatsworth	437935	7108460	589	‐60	86	301	136	1	0.8	1.14

	Prospect	MGA94 (Zone 52)							Intersection Width
Hole_ID		Easting	Northing	RL(m)	Dip(degree)	Azim(degree)	Depth(m)	From(m)	Downhole(m)	(m)TrueWidth(m)	Cu(%)
TLC083	Chatsworth	437935	7108460	589	‐60	86	301	146	1	0.8	0.94
TLC083	Chatsworth	437935	7108460	589	‐60	86	301	175	1		0.68
TLC084	Eastern Reef	438220	7108380	571	‐60	86	277	66	1	N/C	1.25
TLC084	Eastern Reef	438220	7108380	571	‐60	86	277	83	1	N/C	1.43
TLC084	Eastern Reef	438220	7108380	571	‐60	86	277	92	1	N/C	4.02
TLC084	Eastern Reef	438220	7108380	571	‐60	86	277	186	1	N/C	0.40
TLC084	Eastern Reef	438220	7108380	571	‐60	86	277	194	8	N/C	0.34
TLC084	Eastern Reef	438220	7108380	571	‐60	86	277	207	1	N/C	0.39
TLC085	Chatsworth	437773	7108537	603	‐60	86	499	408	10	N/C	1.63
TLC085	Dawyck	437773	7108537	603	‐60	86	499	139	10	N/CN/C	1.38
TLC086TLC086	ChatsworthDawyck	437772437772	71085207108520	602602	‐60‐60	8686	500500	400179	61	N/C	1.190.55
TLC087	Chatsworth	437900	7108598	587	‐60	90	300	178	12		1.45
TLC088	Chatsworth	438026	7108625	596	‐50	199	155	30	7	N/C	1.75
TLC089	Chatsworth	438029	7108629	597	‐60	248	118				NSI
TLC090	Chatsworth	437996	7108654	595	‐60	302	96	20	31	N/C	1.18
TLC090	Chatsworth	437996	7108654	595	‐60	302	96	6	7	N/C	1.05
TLC091	Chatsworth	438003	7108647	604	‐60	320	60	13	4	N/C	1.22
TLC092	Chatsworth	438048	7108536	588	‐60	70	24				NSI
TLC093	Chatsworth	438045	7108531	588	‐60	247	84				NSI
TLC094	Chatsworth	438010	7108416	578	‐60	96	84				NSI
TLC095	Chatsworth	437990	7108415	578	‐60	96	200	195	1	N/C	0.66
TLC096	Chelsea	437635	7107970	602	‐60	60	84				NSI
TLC097	Chelsea	437619	7107945	603	‐60	125	107	70	4		1.23
TLC098	Chelsea	437617	7108006	595	‐60	60	24				NSI
TLC099	Main Reef	437597	7108012	598	‐50	273	173	142	3		1.15
TLC100	Main Reef	437600	7107957	603	‐50	270	181				NSI
TLC101	Main Reef	437477	7107910	615	‐60	90	216	54	5	N/C	2.13
TLC101	Main Reef	437477	7107910	615	‐60	90	216	61	1	N/C	0.65
TLC101	Main Reef	437477	7107910	615	‐60	90	216	63	2	N/C	0.35
TLC101	Main Reef	437477	7107910	615	‐60	90	216	72	1	N/C	0.34
TLC101TLC101	Main ReefMain Reef	437477437477	71079107107910	615615	‐60‐60	9090	216216	5249	11	N/CN/C	0.320.32
TLC102	Main Reef	437453	7107887	614	‐60	75	102	79	1	N/C	1.26
TLC102	Main Reef	437453	7107887	614	‐60	75	102	82	6	N/C	0.49
TLC102	Main Reef	437453	7107887	614	‐60	75	102	89	1	N/C	0.41
TLC103	Main Reef	437346	7108000	575	‐60	90	258	250	1	N/C	0.30
TLC104	Main Reef	437476	7108129	602	‐60	90	198	80	2	N/C	1.47
TLC104	Main Reef	437476	7108129	602	‐60	90	198	99	2	N/C	0.67
TLC105	Main Reef	437554	7108239	594	‐60	90	80	17	3	N/C	0.37
TLC105	Main Reef	437554	7108239	594	‐60	90	80	12	1	N/C	0.34
TLC106	Main Reef	437522	7108236	593	‐60	90	150	54	10	N/C	1.15
TLC107	Main Reef	437525	7108322	590	‐60	90	84	65	1	N/C	0.34
TLC108	Main Reef	437493	7108322	590	‐60	90	162	131	1	N/C	0.37
TLC109	Main Reef	437527	7108395	562	‐60	90	114				NSI
TLC110	Main Reef	437452	7108398	554	‐60	90	258				NSI
TLC111	ChatsworthChatsworth	437915	7108697	579	‐60	90	216	95	1	N/C	0.31NSI
TLC112	Chatsworth	437916	7108732	577	‐60	90	180				NSI
TLC113TLC114	Chatsworth	437918437950	71087737108773	579580	‐60‐60	9090	150126				NSI
TLC115	Chatsworth	437858	7108772	580	‐60	90	300	107	1	N/C	0.34
TLC116	Chatsworth	437789	7108817	581	‐60	60	192				NSI
TLC117	Chatsworth	437742	7108783	580	‐60	60	186	46	1	N/C	0.61
TLC118	Chatsworth	437777	7108922	576	‐60	60	150	45	2	N/C	0.67
TLC118	Chatsworth	437777	7108922	576	‐60	60	150	40	1	N/C	0.37
TLC119	Chatsworth	437744	7108900	576	‐60	60	120				NSI
TLC120	Chatsworth	437723	7109004	574	‐60	60	104				NSI
TLC121	Chatsworth	437700	7108995	574	‐60	60	114	94	1	N/C	0.63

	Hole_IDProspect	MGA94 (Zone 52)							Intersection Width(m)
		Easting	Northing	RL(m)	Dip(degree)	Azim(degree)	Depth(m)	From(m)	Downhole(m)	TrueWidth(m)	Cu(%)
TLC122	Main Reef	437627	7108637	578	‐60	90	78	35	5	N/C	0.79
TLC122	Main Reef	437627	7108637	578	‐60	90	78	40	2	N/C	0.67
TLC122	Main Reef	437627	7108637	578	‐60	90	78	20	2	N/C	0.41
TLC122	Main Reef	437627	7108637	578	‐60	90	78	33	1	N/C	0.33
TLC123	Main Reef	437566	7108640	578	‐60	90	150	105	2	N/C	0.85
TLC124	Main Reef	437583	7108558	579	‐60	90	120				NSI
TLC125	Chatsworth	438017	7108449	574	‐60	90	156	93	5	N/C	1.54
TLC126	Chatsworth	437959	7108338	577	‐60	90	252				NSI
TLC127	Eastern Reef	438429	7108984	580	‐60	90	108				NSI
TLC128	Forio	438599	7108834	568	‐60	90	32	15	2	N/C	0.51
TLC128	Forio	438599	7108834	568	‐60	90	32	12	2	N/C	0.49
TLC129	Forio	438621	7108871	567	‐60	90	35	28	2	N/C	0.48
TLC129	Forio	438621	7108871	567	‐60	90	35	26	1	N/C	0.44
TLC130	Forio	438645	7108904	570	‐60	90	42	27	9	N/C	2.27
TLC130	Forio	438645	7108904	570	‐60	90	42	15	2	N/C	0.51
TLC130	Forio	438645	7108904	570	‐60	90	42	11	1	N/C	0.36
TLC131	Forio	438647	7108944	567	‐60	90	32	17	8	N/C	2.08
TLC131	Forio	438647	7108944	567	‐60	90	32	26	2	N/C	1.19
TLC132	Forio	438659	7108984	568	‐60	90	30	19	5	N/C	1.50
TLC133	Forio	438665	7109015	568	‐60	90	29	12	6	N/C	1.38
TLC133	Forio	438665	7109015	568	‐60	90	29	20	3	N/C	0.81
TLC134	Forio	438671	7109053	567	‐60	90	34	18	5	N/C	1.34
TLC134	Forio	438671	7109053	567	‐60	90	34	25	2	N/C	1.05
TLC135	Forio	438680	7109092	568	‐60	90	30	6	1	N/C	0.34
TLC135	Forio	438680	7109092	568	‐60	90	30	8	1	N/C	0.33
TLC136	Forio	438678	7109140	567	‐60	90	38	23	1	N/C	1.66
TLC137	Eastern Reef	438364	7108987	610	‐60	90	240	147	4	N/C	1.45
TLC137	Eastern Reef	438364	7108987	610	‐60	90	240	112	1	N/C	0.37
TLC138	Main Reef	437434	7108234	598	‐60	90	180				NSI
TLC139	Chatsworth	437897	7108436	592	‐60	90	300				NSI
TLC140	Main Reef	437612	7109096	576	‐60	90	200				NSI
TLC141	Main Reef	437566	7109085	595	‐60	90	160				NSI
TLC142	Chatsworth	437671	7109090	589	‐60	60	100	74	1	N/C	0.38
TLC142	ChatsworthMain Reef	437671	7109090	589	‐60	60	100	76	1	N/C	0.31
TLC143	Main Reef	437633	7109193	600	‐60	90	210	205	1	N/C	0.95NSI
TLC144	Main Reef	437574	7109194	595	‐60	90	120
TLC145	Main Reef	437618	7108790	579	‐60	90	120	90	2	N/C	0.37
TLC145TLC146	Main Reef	437618437547	71087907108797	579576	‐60‐60	9090	120200	94	1	N/C	0.33NSI
TLD001	Eastern Reef	438463	7108291	575	‐60	266	311.1	273.75	9.53		2.67
TLD001	Eastern Reef	438463	7108291	575	‐60	266	311.1	287.15	1.35		0.35
TLD001	Eastern Reef	438463	7108291	575	‐60	266	311.1	289.03	0.50		0.52
TLD001	Eastern Reef	438463	7108291	575	‐60	266	311.1	293.07	1.88		1.00
TLD001	Eastern Reef	438463	7108291	575	‐60	266	311.1	296.54	0.36		0.87
TLD001	Prater	438463	7108291	575	‐60	266	311.1	143	1		0.56
TLD001	Prater	438463	7108291	575	‐60	266	311.1	157	2		0.84
TLD001	Prater	438463	7108291	575	‐60	266	311.1	166	1		0.99
TLD002	Chatsworth	438061	7108635	591	‐60	240	147.4	126.9	6.08		4.83
TLD002	Chatsworth	438061	7108635	591	‐60	240	147.4	135.4	1.12		2.70
TLD003	Hampton	438020	7108340	575	‐60	90	658.9	155	4		0.87
TLD003	Hampton	438020	7108340	575	‐60	90	658.9	175	1		0.54
TLD003	Hampton	438020	7108340	575	‐60	90	658.9	219	2		1.45
TLD003	Hampton	438020	7108340	575	‐60	90	658.9	184	2		0.99
TLD003	Hampton	438020	7108340	575	‐60	90	658.9	370	2		1.35

NSI – No significant intersection; N/C – Not calculated

IFA – Sample identified for future assaying program AWR – Awaiting assay result

TLC008

!? !? !? !? !? !? !? !? !? !? !? !? !? !?!? !? !? !? !? !? !? !? !?! !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !?!? !?!? !?!? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? !? A101 A102 A108 TLC004 TLC006 TLC007 TLC009 TLC011 TLC013 TLC013B TLC019 TLC021 TLC022A TLC023 TLC024 TLC026 TLC027 TLC029 TLC028 TLC034 TLC036 TLC039 TLC040 TLC043 TLC047 TLC050 TLC051 TLC054 TLC057 TLC059 TLC061 TLC064 TLC065 TLC066 TLC067 TLC068 TLC069 TLC070 TLC076 TLC077 TLC078 TLC080 TLC081 TLC082 TLC083 TLC085 TLC086 TLD001 TLD003 TOB011 TOB012 TOB015 TOB016 TOB018 TOB017 TOB019 TOB020 TOB022 TOB028 TOB023 TOB029 TOB032 TOB033 TOB034 TOB037 TOB035 TOB038 TOB041 TOB044 TOB043 TOB045 TOB046 TOB049 TOB047 TOB050 TOB051 TOB052 TLC087 TLC091 TLC092 TLC093 TLC095 TLC096 TLC097 TLC099 TLC098 TLC100 TLC101 TLC102 TLC103 TLC104 TLC105 TLC106 TLC107 TLC108 TLC109 TLC110 TLC111 TLC112 TLC113TLC114 TLC115 TLC116 TLC117 TLC118 TLC119 TLC120 TLC121 TLC122 TLC123 TLC124 TLC125 TLC126 TLC127 TLC128 TLC129 TLC130 TLC131 TLC132 TLC133 TLC134 TLC135 TLC136 TLC137 TLC138 TLC139 T TLC140 LC141 TLC142 TLC145 TLC146

!? !? TLC143 TLC144

´

Tollu Project E69/2450 2015 Drilling Program Datum: Geocentric Datum of Australia 1994 Projection: Map Grid Australia, Zone 52

Drawn by: Brett Hodgins Checked by: Brett Hodgins

Date: 09/01/2016

File: 110_Tollu_P1_RevA_ tollu_2015_Drilling.mxd

Scale (A3): 1:10,000

60 Havelock Street West Perth Western Australia 6005

Redstone Resources