RESOLUTION MINERALS LTD — Capital/Financing Update 2020

Jun 23, 2020

24 June 2020

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DRILLING UPDATE - 64NORTH PROJECT, ALASKA

Summary

• Hole 20AU003 has been completed on target A6 to a total depth of 615m at the Aurora Prospect

• The hole was extended beyond the planned depth as favourable geology was intersected

• The HQ core is currently being logged in Fairbanks and prepared for assay

• The rig has moved to Target A13NE, adjacent to “Half Ounce Gulch” and commenced drilling

• Drilling to continue through June and July – with 4 to 6 holes planned (2200m minimum)

• Geophysical surveys (ZTEM & Magnetics) to commence next week

• Assay results planned to be released upon program completion

Resolution Minerals Ltd ( RML or Company ) is pleased to provide an update on the second phase of drilling for 2020 is well underway at the compelling Aurora Prospect, West Pogo Block adjacent to Northern Star’s Pogo Gold Mine, Alaska. The first hole was completed on 23 June 2020 to a depth of 615m on Target A6 (Hole ID: 20AU003). The hole intersected the targeted rock type, a paragneiss, which is the same host rock as the Pogo Gold Mine and validated the CSAMT survey data used in targeting the remainder of the holes in this drilling campaign. The drilling was extended beyond the planned depth to adequately test a shear zone intersected at 585m depth.

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Assays pending
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Figure 1 CSAMT Section Line 6, Aurora Prospect, West Pogo Block.

CAPITAL STRUCTURE

Ordinary Shares Issued 206.4 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

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BOARD
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Performance Shares Len Dean - Chair Class A 9.6 M Duncan Chessell - MD Class B 3.6 M Andrew Shearer - NED Jarek Kopias - Co Sec Last Capital Raise February 2020 - Placement Level 4, 29-31 King William Street $4.5M @ 5c Adelaide SA 5000

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ASX RELEASE

The drill rig has now moved to Target A13NE and will continue to test targets as outlined on Figure 5. A decision to complete hole 20AU002 (partially completed in March 2020 before travel restrictions) will be made subject to results from the just completed hole, 20AU003. The geology team is continuing to assess all new results to optimise drill hole locations and maximise use of funds.

Further planned holes A14, A7SSW, A10 A8 on the Aurora Prospect are outlined on Figure 5, and will be tested in order of priority and re-ranking, as results come to hand from ongoing drilling operations. Drill targeting is undertaken by the 64North Project technical team, comprising of Resolution Minerals and project partner Millrock Resources geoscientists and consultants.

Next Drill Hole A13NE

The next drill target, A13NE will test a deeper conductor at 400m-800m depth, which is alongside an interpreted vertical feeder vein. This vertical feeder is likely to be the conduit of mineralised fluids from depth and the source of the high grade rock chips up to 13.85 g/t Au at surface at the “Half Ounce Gulch” gold occurrence. Our exploration targeting model is illustrated on the Pogo Style Mineralisation Model (Figure 3). Historic drill holes MR12-01 azimuth 153º and MR12-02 azimuth 94º drilled at a 45º dip and intersected narrow gold veins up to 1.71g/t Au but did not test the deeper flat lying conductive horizon. RML interprets this conductor to be the same host rock as Pogo (paragneiss) and is highly prospective for Pogo-style gold mineralisation. Interestingly the early exploration holes at the now Pogo Gold Deposit and Mine chased narrow near surface vertical veins, drilling inclined holes missing the flat lying thick and high grade gold deposit at depth. It was only later when explorers returned and pointed the rig near vertical, that the Pogo Gold Deposit was discovered. RML will drill a near vertical hole (A13NE) at an ~80º dip.

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Figure 2 CSAMT Line 3 Section with 45º dip historic holes MR12-01 Azimuth 153º and MR12-02 Azimuth 94º were not drilled on same plane as CSAMT (180º) and therefore has not tested the prospective conductive target zone at 400m to 1000m depth.

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Aurora Prospect

The Aurora Prospect is a large-scale, high priority target zone (2km x 5km), with host rocks, surface geochemistry, structures and geophysical signature that make it a look-alike to the Goodpaster Prospect and Pogo Gold Mine (Figure 6). Drilling is the immediate priority for the Company on the Aurora Prospect.

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Figure 3 Pogo Gold Mine mineralisation model, (Larimer 2015).

Pogo-style mineralisation demonstrated

RML released comprehensive information on 14 May 2020 of our first exploration drilling program on the Aurora Prospect. Encouragingly the rock type, quartz veining, intense alteration and elevated arsenic, bismuth and tellurium correlating with gold are all typical of a Pogo-style gold system. Furthermore, the program demonstrated that the geophysical targets correlate with zones of alteration and anomalous gold results, highlighting the large-scale potential of the Aurora Prospect.

Figure 4 Hole ID 20AU001; cut ½ drill core 127.16m to 127.3m quartz veins, arsenopyrite, pyrite(s) in paragneiss. Grade 0.19g/t Au, >10,000ppm As, 9.4ppm Bi, 1.13ppm Te. Demonstrating a Pogo-style mineral system at RML’s Aurora Prospect.

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Figure 5 Aurora Prospect, West Pogo Block. Completed drill target locations (green dots), incomplete hole (blue dot) and planned further drill holes (orange dots). CSAMT Lines 3 and 6 (dashed black lines) running north-south.

About the 64North Project

The 64North Project is adjacent to Northern Star’s (ASX:NST) Pogo Gold Mine, 120km from Fairbanks, Alaska in the Tintina Gold Province. NST’s operating world class high grade Pogo Gold Mine has an endowment of 10Moz of gold and started production in 2006, producing approximately 300,000oz/year at over 13g/t Au through this time. Recent discovery success has been announced by NST within 450m of our tenement boundary and remains open in all directions at the Goodpaster Prospect. This demonstrates the highly prospective nature of the district and the immediate West Pogo drill targets on RML’s tenements. RML is earning into the project which is owned by Millrock Resources (TSXV:MRO) the details of which were announced 17 October 2019 by the Company.

Resolution is continuing to assess regional prospectivity and is will prioritise a pipeline of drill-ready prospects across the large 660km[2] land package (Figure 9), in parallel with its drilling program at West Pogo.

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Echo Prospect

RML’s Echo Prospect in the north of the West Pogo Block is directly down dip from the Goodpaster Prospect and will be advanced in June with airborne geophysical surveys. A 200m line spaced ZTEM survey (250 line km) and 100m line spaced magnetics survey (500 line km) will be undertaken to define further drill collar sites. A single line of CSAMT survey data collected in 2019 identified numerous prospective drill targets, on a narrow corridor through the centre of the Echo Prospect. The airborne surveys will be a cost-effective means to widen the zone of potential drill targets. Ground preparation in July will allow RML to be drill ready for August (Figure 6).

Geophysics Survey June 2020

ZTEM (Z-Axis Tipper Electromagnetic System) is a passive electro-magnetic (EM) technique used to map subsurface resistivity and conductivity. ZTEM can penetrate conductive cover (often causing interference in other EM systems) to depths beyond 1km and is excellent for discriminating subtle resistivity contrasts. The heli-borne magnetic data will be used to define the likely structural controls for mineralisation within the prospect areas.

The Goodpaster Prospect and Pogo Gold Mine are structurally controlled, with alteration and associated gold and sulphide mineralised zones expressed as subtle resistivity contrasts (i.e. weakly conductive). Therefore, the combination of close spaced airborne ZTEM and magnetics data, with existing wide spaced ground acquired CSAMT lines will be a very powerful tool for defining drill targets within an IRGS setting. Furthermore, RML is collecting data across neighbouring Northern Star’s (ASX:NST) Goodpaster Prospect to allow for direct comparison with potential targets on RML’s ground (Figure 6).

Geophysics Survey Area June 2020

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Figure 6 June ZTEM / Magnetic Survey Area blue polygon outline; 200m line spacing ZTEM and 100m line spaced magnetics.

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Figure 7 Drill hole 20AU003 nearing completion (inside a bear protection fence), Aurora Prospect June 2020.

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Figure 8 Drill pad A13NE prepared ready to drill, June 2020, Half Ounce Gulch gold occurrence, Aurora Prospect 64N Project

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Figure 9 The 64North Project and neighbours’ tenement location map, June 2020; RML claims in blue, NST in golden yellow.

Resolution Minerals Ltd is a precious and battery metal mineral explorer with its gold focussed flagship 64North Project in Alaska, the Wollogorang Cu-Co Project in Australia (includes the Stanton Cobalt Deposit) and the Snettisham Ti-V-Fe (Magnetite) Project in southern Alaska.

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 on 17 October 2019, “Binding agreement earning 80% of Gold Project in Alaska”, “Gold Symposium Conference Presentation” 24 October 2019, “AGM Presentation” 26 November 2019, “Initial Assays Hole 1 - 64North Project, Alaska” 27 April 2020 and “Exploration Update - 64North Project, Alaska” 14 May 2020. The Company is not aware of any new information or data that materially affects the information included in this announcement.

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JORC Disclosure – historic results restated

These results were previously announced on 24 October 2019 “Gold Symposium Conference Presentation” (as ASX:N27 Northern Cobalt Ltd Resolution’s former Company Name) using a cut off of 1g/t Au (1ppm Au) for significant results shortly after the project was acquired. It is the Company’s view now that a more appropriate cut off grade in this context is 0.5g/t Au for significant intercepts, as detailed below and reflected in the figures elsewhere in this document.

Appendix 1. Summary table of (historic) drill hole details.

Table 1a: Summary of Historic drill intervals from the West Pogo Block, 64North Project, Alaska.

Hole ID	Prospect	From	To	Interval	Au (g/t)
MR-12-01	Money Rock	51.51	53.04	1.52	0.56
MR-12-01	Money Rock	165.51	166.73	1.22	1.71
MR-12-01	MoneyRock	199.03	200.56	1.52	1.67
MR-12-02	Money Rock	155.08	158.19	3.11	0.51
MR-12-02	MoneyRock	395.33	396.85	1.52	0.53
WP-1	Tourmaline Ridge	83.27	84.19	0.91	0.65
WP-1	Tourmaline Ridge	104.58	105.16	0.58	1.00
WP-1	Tourmaline Ridge	168.95	169.22	0.27	0.67
WP-1	Tourmaline Ridge	169.87	171.91	0.40	1.34
including	Tourmaline Ridge	169.87	169.96	0.09	3.18
WP-12-01	Tourmaline Ridge	49.68	51.36	1.68	1.96
WP-12-01	Tourmaline Ridge	243.69	249.33	5.64	1.03
including	Tourmaline Ridge	244.45	245.36	0.91	2.56
WP-12-02	Tourmaline Ridge	74.52	77.72	3.20	1.10
including	Tourmaline Ridge	75.90	77.72	1.83	1.34
AGGP-1	Anglo Trench	12.60	14.05	1.45	0.61
AGGP-1	Anglo Trench	23.50	26.50	3.00	0.54
AGGP-1	Anglo Trench	32.60	34.20	1.60	1.78
including	Anglo Trench	32.60	33.10	0.50	5.26
AGGP-1	Anglo Trench	40.00	41.13	1.13	0.68
AGGP-1	Anglo Trench	50.70	52.00	1.30	0.51
AGGP-1	Anglo Trench	56.20	58.00	1.80	0.50
AGGP-2	Anglo Trench	NSI	NSI	NSI	NSI
AGGP-3	Anglo Trench	NSI	NSI	NSI	NSI

All results are covered by the accompanying JORC table. These results were previously stated on 24 October 2019 using a cut off of 1g/t Au (1ppm Au) for significant results shortly after the project was acquired.

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Table 1b: Historic drill collar location for the Money Rock, Tourmaline Ridge and Anglo Trench Prospects, West Pogo Block, 64North Project, Alaska.

Hole ID	Easting	Northing	Elevation	Azimuth	Dip	EOH Depth
MR-12-01	594703	7149129	680	153	-45	400.51
MR-12-02	594703	7149129	680	94	-45	463.14
WP-1	593714	7148198	1134	335	-45	220.68
WP-12-01	593714	7148198	1134	51	-45	321.56
WP-12-02	594517	7148433	948	327	-45	288.65
AGGP-1	595500	7146685	823	180	-60	188.40
AGGP-2	595585	7147180	640	180	-60	452.80
AGGP-3	595500	7146430	649	180	-60	447.53

Notes for Tables 1a and 1b

1. An accurate dip and strike and the controls on mineralisation are yet to be determined and the true width of the intercepts is not yet known.

2. Coordinates are in NAD83, Zone 6.

3. Elevation and Hole Depth are in metres.

4. Azimuth is in Degrees Grid North.

5. Dip is in degrees.

6. g/t (grams per tonne), ppm (parts per million), ppb (parts per billion), NSI (no significant intercept).

7. All drilling is NQ diamond core drilling, all of hole is sampled.

8. Significant results are shown for intercepts >0.5g/t Au with no internal dilution.

Competent Persons Statement

The information in this report that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Duncan Chessell who is a member of the Australasian Institute of Mining and Metallurgy. Mr Duncan Chessell is a full-time employee of the company and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Duncan Chessell consents to the inclusion in the report of the matters based on his information in the form in which it is appears and confirms that the data reported as foreign estimates are an accurate representation of the available data and studies of the material mining project. This report includes results that have previously been released under JORC 2012 by the Company on 17 October 2019, “Binding agreement earning 80% of Gold Project in Alaska”, “Gold Symposium Conference Presentation” 24 October 2019, “AGM Presentation” 26 November 2019, “Operations Update at 64North Project, Alaska” 31 March 2020 and “Exploration Update - 64North Project, Alaska” 14 May 2020. The Company is not aware of any new information or data that materially affects the information included in this announcement.

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Appendix 2. The following tables are provided to ensure compliance with the JORC Code (2012) requirements for the reporting of the exploration results for the 64North Project – Alaska.

Section 1 Sampling Techniques and Data

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

Criteria	JORC Code explanation	Commentary	Commentary
Sampling	• Nature and quality of sampling (e.g. cut	•	No drilling or sampling has been
techniques	channels, random chips, or specific specialised industry standard measurement		undertaken by Resolution Minerals on the historic Money Rock (MR),
	tools appropriate to the minerals under		Tourmaline Ridge (TR) and Anglo
	investigation, such as down hole gamma		Trench (AT) Prospects, although
	sondes, or handheld XRF instruments, etc.).		limited historical drilling and
	These examples should not be taken as		sampling exists.
	limiting the broad meaning of sampling.	•	Historical sampling was undertaken
	• Include reference to measures taken to		using standard industry practices.
	ensure sample representivity and the	•	Historical drill hole co-ordinates are
	appropriate calibration of any measurement		in UTM grid (NAD83 Z6N & NAD27
	tools or systems used.		Z6N) and have been measured by
	• Aspects of the determination of mineralisation		hand-held GPS with a lateral
	that are Material to the Public Report.		accuracy of ±4 metres and a vertical
	• In cases where ‘industry standard’ work has		accuracy of ±5 metres.
	been done this would be relatively simple	•	Mineralised intersections were
	(e.g. ‘reverse circulation drilling was used to		encountered, but have not been
	obtain 1 m samples from which 3 kg was		reported as true widths due to
	pulverised to produce a 30 g charge for fire		insufficient data spacing and
	assay’). In other cases, more explanation may		orientation relationship knowledge.
	be required, such as where there is coarse Au
	that has inherent sampling problems. Unusual
	commodities or mineralisation types (e.g.
	submarine nodules) may warrant disclosure
	of detailed information.
Drilling	• Drill type (e.g. core, reverse circulation, open-	•	Historic exploration drilling includes:
techniques	hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter,	•	Diamond: EA00-01 – 05 (Hyder, 2000), BND01-05 (Western Keltic,
	triple or standard tube, depth of diamond tails,		2001), WP-1 & AGGP-01 – 03
	face-sampling bit or other type, whether core		(AngloGold, 2002), ER03-01 – 06
	is oriented and if so, by what method, etc.).		(AngloGold, 2003), ER04-07 – 09 &
			EA04-01 – 09 (AngloGold, 2004),
			CN07002 – 004 , BG07-01, BV07-
			01, CN07-01 & BND07-06
			(Rimfire/Rubicon, 2007), NH0805 –
			07 (Rimfire/Rubicon, 2008), MR-12-
			01, MR-12-02, WP-12-01, WP-12-02
			(Alix, 2012).
		•	Additional details from historic
			drilling are unknown.
Drill sample	• Method of recording and assessing core and	•	No drilling has been undertaken by
recovery	chip sample recoveries and results assessed. • Measures taken to maximise sample recovery		Resolution Minerals on the Money Rock (MR), Tourmaline Ridge (TR)
	and ensure representative nature of the		and Anglo Trench (AT) Prospects
	samples.		following the acquisition of the
	• Whether a relationship exists between sample		project announced on 17 October
			2019,although limited historical

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Criteria		JORC Code explanation	Commentary	Commentary
		recovery and grade and whether sample bias		drilling exists.
		may have occurred due to preferential	•	Additional details from historic
		loss/gain of fine/coarse material.		drillingare unknown.
Logging		• Whether core and chip samples have been	•	No drilling has been undertaken by
		geologically and geotechnically logged to a		Resolution Minerals on the Money
		level of detail to support appropriate Mineral		Rock (MR), Tourmaline Ridge (TR)
		Resource estimation, mining studies and		and Anglo Trench (AT) Prospects
		metallurgical studies.		following the acquisition of the
		• Whether logging is qualitative or quantitative		project announced on 17 October
		in nature. Core (or costean, channel, etc.)		2019, although limited historical
		photography.		drilling exists.
		• The total length and percentage of the	•	Additional details from historic
		relevant intersections logged.		drillingare unknown.
Sub-		• If core, whether cut or sawn and whether	•	No drilling has been undertaken by
sampling techniques		quarter, half or all core taken. • If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or		Resolution Minerals on the Money Rock (MR), Tourmaline Ridge (TR) and Anglo Trench (AT) Prospects
and sample preparation		dry. • For all sample types, the nature, quality and appropriateness of the sample preparation		following the acquisition of the project announced on 17 October 2019, although limited historical
		technique.		drilling exists.
		• Quality control procedures adopted for all	•	Additional details from historic
		sub-sampling stages to maximise		drilling are unknown.
		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.
Quality	of	• The nature, quality and appropriateness of	•	No drilling has been undertaken by
assay and	data	the assaying and laboratory procedures used and whether the technique is considered partial or total.		Resolution Minerals on the Money Rock (MR), Tourmaline Ridge (TR) and Anglo Trench (AT) Prospects
laboratory tests		• For geophysical tools, spectrometers, handheld XRF instruments, etc., the parameters used in determining the analysis		following the acquisition of the project announced on 17 October 2019, although limited historical
		including instrument make and model,		drilling exists.
		reading times, calibrations factors applied and	•	Additional details from historic
		their derivation, etc.		drilling are unknown.
		• 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.
Verification		• The verification of significant intersections by	•	No drilling has been undertaken by
of sampling and		either independent or alternative company personnel. • The use of twinned holes.		Resolution Minerals on the Money Rock (MR), Tourmaline Ridge (TR) and Anglo Trench (AT) Prospects
assaying		• Documentation of primary data, data entry procedures, data verification, data storage		following the acquisition of the project announced on 17 October
		(physical and electronic) protocols.		2019, although limited historical
		• Discuss any adjustment to assay data.		drilling exists.

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Criteria		JORC Code explanation	Commentary	Commentary
			•	Additional details from historic
				drillingare unknown.
Location	of	• Accuracy and quality of surveys used to	•	All maps and locations are in UTM
data points		locate drill holes (collar and down-hole surveys), trenches, mine workings and other		grid (NAD83 Z6N) and have been measured by hand-held GPS with a
		locations used in Mineral Resource		lateral accuracy of ±4 metres and a
		estimation.		vertical accuracy of ±10 metres.
		• Specification of the grid system used.
		• Quality and adequacy of topographic control.
Data		• Data spacing for reporting of Exploration	•	No drilling or sampling has been
spacing and distribution		Results. • Whether the data spacing, and distribution is sufficient to establish the degree of geological		undertaken by Resolution Minerals on the Money Rock (MR), Tourmaline Ridge (TR) and Anglo
		and grade continuity appropriate for the		Trench (AT) Prospects following the
		Mineral Resource and Ore Reserve		acquisition of the project announced
		estimation procedure(s) and classifications		on 17 October 2019, although
		applied.		limited historical drilling exists.
		• Whether sample compositing has been	•	Data spacing is insufficient to
		applied.		establish the degree of geological
				and grade continuity required for a
				Mineral Resource estimation.
Orientation		• Whether the orientation of sampling achieves	•	No drilling has been undertaken by
of data relation	in to	unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.		Resolution Minerals on the Money Rock (MR), Tourmaline Ridge (TR) and Anglo Trench (AT) Prospects
geological structure		• If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have		following the acquisition of the project announced on 17 October 2019, although limited historical
		introduced a sampling bias, this should be		drilling exists.
		assessed and reported if material.	•	The relationship between the drilling
				orientation and the orientation of key
				mineralised structures has not been
				confirmed.
Sample		• The measures taken to ensure sample	•	No drilling has been undertaken by
security		security.		Resolution Minerals on the Money Rock (MR), Tourmaline Ridge (TR)
				and Anglo Trench (AT) Prospects
				following the acquisition of the
				project announced on 17 October
				2019, although limited historical
				drilling exists.
			•	Additional details from historic
				drillingare unknown.
Audits	or	• The results of any audits or reviews of	•	No drilling has been undertaken by
reviews		sampling techniques and data.		Resolution Minerals on the Money Rock (MR), Tourmaline Ridge (TR)
				and Anglo Trench (AT) Prospects
				following the acquisition of the
				project announced on 17 October
				2019, although limited historical
				drilling exists.
			•	No review has been undertaken at
				this time.

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Section 2 Reporting of Exploration Results

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

Criteria	Criteria		JORC Code explanation	Commentary	Commentary
Mineral			• Type, reference name/number, location and	•	Resolution Minerals Ltd executed a
tenement and land			ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties,		binding agreement with Millrock Resources to acquire, via joint venture earn-in, up to 80% interest
tenure			native title interests, historical sites,		of the 64North Project in Alaska
status			wilderness or national park and environmental settings.		(ASX:RML Announcement 16/12/2019).
			• The security of the tenure held at the time of	•	The total tenement area comprising
			reporting along with any known impediments		the 64North Project consists of
			to obtaining a licence to operate in the area.		1176 State of Alaska claims
					(66,050 hectares).
				•	The 64North Project is located
					approximately 120km east of
					Fairbanks.
				•	The tenure is in good standing and
					no known impediments exist.
Exploration done by			• Acknowledgment and appraisal of exploration by other parties.	• •	Previous exploration work includes; Surface Geochemical Sampling:
other parties					Pan concentrates, fine silts, silts,
					soils & rock chips. Airborne
					Geophysics: EM, LiDAR,
					Radiometric & Magnetics.
					Ground Geophysics: Magnetics,
					Radio-metrics, EM, VLF-EM,
					NSAMT & CSAMT.
					Exploration Drilling: 46 Diamond.
Geology			• Deposit type, geological setting and style of	•	Resolution Minerals Ltd is primarily
			mineralisation.		exploring for Intrusion Related Gold
					mineralisation (e.g. Pogo-style)
					within the Yukon-Tanana Terrane
					of the northernCordillera,Alaska.
Drill	hole		• A summary of all information material to the	•	No drilling has been undertaken by
Information			understanding of the exploration results including a tabulation of the following		Resolution Minerals on the Money Rock (MR), Tourmaline Ridge (TR)
			information for all Material drill holes:		and Anglo Trench (AT) Prospects
			o easting and northing of the drill hole collar		following the acquisition of the
			o elevation or RL (Reduced Level –		project announced on 17 October
			elevation above sea level in metres) of the		2019, although limited historical
			drill hole collar		drilling exists.
			o dip and azimuth of the hole	•	See Appendix 1 summary table of
			o down hole length and interception depth		historic drill hole results.
			o hole length.	•	An accurate dip and strike and the
			• If the exclusion of this information is justified		controls on mineralisation are yet
			on the basis that the information is not		to be determined and the true
			Material and this exclusion does not detract		width of the intercepts is not yet
			from the understanding of the report, the		known.
			Competent Person should clearly explain why

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Criteria	Criteria	JORC Code explanation	Commentary	Commentary
		this is the case.
Data		• In reporting Exploration Results, weighting	•	No drilling has been undertaken by
aggregation methods		averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually		Resolution Minerals on the Money Rock (MR), Tourmaline Ridge (TR) and Anglo Trench (AT) Prospects
		Material and should be stated.		following the acquisition of the
		• Where aggregate intercepts incorporate short		project announced on 17 October
		lengths of high-grade results and longer		2019, although limited historical
		lengths of low-grade results, the procedure		drilling exists.
		used for such aggregation should be stated	•	Historic sample length weighted
		and some typical examples of such		averaging was used to calculate
		aggregations should be shown in detail.		the historic aggregated intervals of
		• The assumptions used for any reporting of		significant mineralisation. A cut off
		metal equivalent values should be clearly		of 0.5 g/t Au has been applied for
		stated.		significant intersections. No top cut
				has been applied. No internal
				dilution has been applied.
			•	No metal equivalents have been
				used.
Relationship		• These relationships are particularly important	•	No drilling has been undertaken by
between mineralisati		in the reporting of Exploration Results. • If the geometry of the mineralisation with respect to the drill hole angle is known, its		Resolution Minerals on the Money Rock (MR), Tourmaline Ridge (TR) and Anglo Trench (AT) Prospects
on	widths	nature should be reported.		following the acquisition of the
and		• If it is not known and only the down hole lengths are reported, there should be a clear		project announced on 17 October 2019, although limited historical
intercept		statement to this effect (e.g. ‘down hole		drilling exists.
lengths		length, true width not known’).	•	Historic down hole length has been reported, as true width is not
				known, as insufficient work has
				been undertaken to understand the
				true width of intervals.
			•	“Down hole length, true width not
				known” is stated in the notes to
				Table 1a.
Diagrams		• Appropriate maps and sections (with scales)	•	No drilling has been undertaken by
		and tabulations of intercepts should be		Resolution Minerals on the Money
		included for any significant discovery being		Rock (MR), Tourmaline Ridge (TR)
		reported These should include, but not be		and Anglo Trench (AT) Prospects
		limited to a plan view of drill hole collar		following the acquisition of the
		locations and appropriate sectional views.		project announced on 17 October
				2019, although limited historical
				drilling exists.
			•	Plan view of historic drill collar
				locations have been included in the
				body of this report.
			•	A cross section for the two MR
				(Money Rock) drill holes has been
				provided but is not provided for
				Anglo Trench (AT) and Tourmaline
				Ridge (TR) Prospects at this stage
				as not material to this
				announcement.

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ASX RELEASE

Criteria	JORC Code explanation	Commentary	Commentary
Balanced	• Where comprehensive reporting of all	•	No drilling has been undertaken by
reporting	Exploration Results is not practicable, representative reporting of both low and high		Resolution Minerals on the Money Rock (MR), Tourmaline Ridge (TR)
	grades and/or widths should be practiced to		and Anglo Trench (AT) Prospects
	avoid misleading reporting of Exploration		following the acquisition of the
	Results.		project announced on 17 October
			2019, although limited historical
			drilling exists.
		•	The reporting is considered
			balanced.
		•	Comprehensive reporting of all
			drilling, trench, soil samples has
			occurred in historical reports and
			reported when appropriate here.
Other	• Other exploration data, if meaningful and	•	No other substantive exploration
substantive exploration	material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical		data has been collected on the Money Rock (MR), Tourmaline Ridge (TR) and Anglo Trench (AT)
data	survey results; bulk samples – size and		Prospects by Resolution Minerals.
	method of treatment; metallurgical test	•	Millrock Resources completed a
	results; bulk density, groundwater,		CSAMT survey. See TSX.V: MRO
	geotechnical and rock characteristics;		announcement, released on the
	potential deleterious or contaminating		9/10/2019 for details.
	substances.
Further	• The nature and scale of planned further work	•	A range of exploration techniques
work	(e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling).		are being considered to progress exploration including drilling.
	• Diagrams clearly highlighting the areas of	•	The Company has commenced
	possible extensions, including the main		drilling a HQ Diamond Core hole
	geological interpretations and future drilling		close to the historic Money Rock
	areas, provided this information is not		Prospect (MR) drill holes as
	commercially sensitive.		indicated in figures in this release.

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