RESOLUTION MINERALS LTD — Board/Management Information 2020

Aug 16, 2020

17 August 2020

DRILLING COMMENCED AT ECHO PROSPECT 64NORTH PROJECT, ALASKA AND NEW DIRECTOR APPOINTMENT

Summary Operations

• Drilling has commenced on the Echo Prospect (West Pogo Block) adjacent to Northern Star’s Pogo Gold Mine and Goodpaster Prospect

• First Echo drill hole to test a 180m to 300m deep target zone (Figures 1 and 2), as part of a planned 950 metre, helicopter supported, diamond drilling program

• Recently completed Hole #3 and #4 at the Aurora Prospect - assays due end of August

• A regional field program is underway during the current Alaskan summer field season with objectives of delineating drill targets at the Boundary and E1 Prospects, results pending

Corporate

• Appointment of new non-executive Director, Mr Craig Farrow, planned transition to Chair

• Fully funded exploration on multiple drilling targets and prospects with news flow for the remainder of 2020 after recent successful $3.6m placement and $1.5m SPP

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Pogo Gold Mine
Echo Prospect E2 Target
drilling now
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CAPITAL STRUCTURE

Ordinary Shares Issued 279 M

Options and rights Listed options 6.1 M @ 10c Unlisted options 12.3 M @ 25c Unlisted options 13.4 M @ 6c Unlisted rights 7.5 M

Performance Shares Class A 9.6 M Class B 3.6 M Last Capital Raise August 2020 - Placement & SPP $5.1M @ 7c

BOARD Len Dean - Chair Duncan Chessell - MD Andrew Shearer - NED Craig Farrow - NED Jarek Kopias - Co Sec

Level 4, 29-31 King William Street, Adelaide SA 5000

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ASX RELEASE

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Drilling now
Echo Prospect
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Figure 1 Cross section of Echo Prospect first drill hole (20AU005)

E2 Drill Hole - Echo Prospect

The Echo Prospect is located NW of Northern Star’s (ASX:NST) Goodpaster Prospect (Figure 2). The planned drill hole position has been optimised to test a CSAMT conductor, located on the periphery of an interpreted intrusive (i.e. coincident resistive and magnetic high) flanking a major structure. The CSAMT conductor is interpreted as a zone of potentially mineralised, hydrothermally altered country rock and the underlying intrusive as the causative heat and fluid source forming the alteration zone. The magnetic anomaly is likely due to a diorite intrusion , the presence of which is known to be spatially associated with gold mineralisation at the adjacent Pogo Gold Mine.

Managing Director Duncan Chessell commented:

“Very pleased to see the rig turning on the prospective Echo Prospect with the Pogo Gold Mine in the background.”

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ASX RELEASE

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Drilling now
Echo Prospect
Completed
Hole #4
Completed
Hole #3
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Figure 2 Echo and Aurora Prospects, West Pogo Block

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Figure 3 Deposit sizes stated as Endowment (Resources & Reserves + Historic Production) *sourced from Company websites

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ASX RELEASE

New Director Appointment

Resolution Minerals is pleased to announce the appointment of Mr Craig Farrow as an independent non-executive Director .

Mr Farrow brings to Resolution a strong commercial background spanning multiple industry sectors over a 30 plus year career. Mr Farrow was a founding director of telecommunications business M2 Group, Chair since 2006, was instrumental in the merger between Vocus Communications and M2 Group Ltd in 2016 and continuing as Deputy Chair of Vocus until February 2018 (ASX:VOC). He has also served as Chair of ASX listed Companies Bulletproof Group (ASX:BPF) and Murray River Organics (ASX:MRG) and multiple unlisted board roles as both a non-executive Director and Chair.

Mr Farrow joins the Board and will transition to the role of Chair in the coming months as current Chair Mr Len Dean intends to retire after 50 years in the mining and exploration industry and will not stand for re-election at the AGM in November this year.

Mr Farrow is a Fellow of the Chartered Accountants Australia New Zealand (CAANZ), Australian Institute of Company Directors (AICD) and Australian Institute of Management (AIM) and holds a Diploma of Financial Services and Bachelor of Economics.

His appointment will be put to shareholders for ratification as an ordinary resolution at the 2020 Annual General Meeting of the company to be held in November.

The board would like to thank Mr Dean for his service as the founding Chair of Resolution Minerals , for guiding the Company through the IPO in 2017 (as Northern Cobalt) and then through the acquisition of the 64North Project in Alaska in 2019.

For further information please contact the authorising officer:

Duncan Chessell Managing Director Resolution Minerals Ltd M: +61 414 804 055

E: info@resolutionminerals.com

Follow RML on LinkedIn or Twitter

or visit our website www.resolutionminerals.com

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This report includes results that have previously been released under JORC 2012 by the Company “Binding agreement earning 80% of Gold Project in Alaska” on 17 October 2019, “Gold Symposium Conference Presentation” on 24 October 2019, “2019 AGM Managing Director’s Presentation” on 26 November 2019, “Initial Assays Hole 1 - 64North Project Alaska” on 27 April 2020, “Exploration Update - 64North Project Alaska” on 14 May 2020, “Drilling Update - 64North Project Alaska” on 24 June 2020 and “Investor Presentation - Noosa Mining Virtual Conference” on 13 July 2020. The Company is not aware of any new information or data that materially affects the information included in this announcement.

*Tintinta Gold Province Endowment Map – source of data: Pebble (Northern Dynasty, www.northerndynastyminerals.com), Pogo (Northern Star Resources, www.nsrltd.com), Fort Knox (Kinross, www.kinross.com), Donlin Creek (NovaGold, www.novagold.com), Livengood (International Tower Hill Mines, www.ithmines.com), Eagle & Dublin Gulch (Victoria Gold Corp, www.vgcx.com), Brewery Creek (Golden Predator, www.goldenpredator.com), White Gold (White Gold Corp, whitegoldcorp.ca), Coffee (Newmont, www.newmont.com), Kensington (Coeur Mining, www.coeur.com).

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