RESOLUTION MINERALS LTD — Capital/Financing Update 2021

Dec 2, 2021

3 December 2021

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BENMARA PROJECT PROOF OF CONCEPT DRILLING SUCCESSFUL

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• RML has completed a “proof of concept” 15-hole RC drilling program at the Benmara Project (NT), successfully intersecting the target geological units that are equivalent to those that host the McArthur River, Lady Loretta, Walford Creek and Century Deposits

• Assay results also confirms anomalous Fe-Mn carbonate alteration and elevated thallium, both occur as a characteristic halo at the McArthur River, Lady Loretta and Century deposits.

• Trace elements indicate likely proximity to mineralisation at RML’s Benmara Project

• • Resolution is excited to be early movers in the region and have received positive interest from several majors and mid-tiers regarding the project

• Highlighting the potential of the region is the calibre of the neighbours - which includes BHP, Rio Tinto, FMG, South32, OZ Minerals and Teck

• Resolution Minerals is very pleased with this “proof of concept” success and intends to conduct further geophysics and drilling programs in 2022

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The Benmara
Project
complements
Resolution’s
Wollogorang
Project (in Farm-
in with OZ
Minerals) and is
part of
Resolution’s
strategy to explore
for battery metals
in Northern
Australia.
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CAPITAL STRUCTURE
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BOARD
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Ordinary Shares Performance Shares Craig Farrow - Chair
Issued 656 M Class A 9.6 M Duncan Chessell - MD
Options and rights Class B 3.6 M Andrew Shearer - NED
Listed options 6 M @ 10c Jarek Kopias - Co Sec
Listed options 74 M @ 12c Last Capital Raise
Unlisted options 13 M @ 8c Oct/Nov 2021 – Placement & SPP
Level 4, 29-31 King William Street
Unlisted options 59 M @ 4c $3.7M @ 2c
Unlisted options 42 M @ 3c Adelaide SA 5000
Unlisted rights 18 M
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ASX RELEASE

Resolution Minerals Managing Director Duncan Chessell commented:

We are very pleased to have demonstrated “proof of concept”, through the intersection of thick carbonaceous, pyritic and dolomitic siltstones and shales akin to the Barney Creek formation which hosts the well-known world class HYC / McArthur River lead zinc Mine owned by Glencore. The program has improved our understanding of the geology and takes us one step further on the journey to a potential major discovery in an underexplored prospective region.

The Benmara Project is an exciting large scale potential green-fields sediment hosted battery metals project in one of the last few sedimentary basins in Australia to be explored. We have successfully intersected thick target rock units derived from recent geochronology research as part of the Geoscience Australia’s $225m Exploring-For-The-Future initiative. This initiative for the first time, identified the potential of and stratigraphically links the Benmara Group with the Lawn Hill Platform and Southern McArthur Basin, both of which are known to host large battery metal deposits, such as McArthur River, Lady Loretta, Walford Creek and Century Deposits.

The next step will be to follow up these units along strike and vector towards mineralisation, utilising alteration and trace element haloes defined by our maiden drilling program assay results and further geophysics surveys. 2022 will be a very busy and exciting time for RML.

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Figure 1 Photo of RC chip trays from HoleID: 21BM001 TD 210m depth, weathered profile to 0m - 42m (19m onwards likely to have been pyritic shales), 42m-199m interbedded carbonaceous shales and siltstones (purple polygon ) with 159-199m showing increasing alteration, 199m-210m dolomite. Note 1m light green marker unit Tuff Layer at 187-188m ( green polygon ) used for correlating lithology laterally.

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ASX RELEASE

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Figure 2 Typical pyritic shale HoleID: 21BM001 from 144-146m (depth)

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Figure 3 Galena (lead sulfide) HoleID: 21BM006 from 166-167m (depth)

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ASX RELEASE

Summary

Resolution Minerals Ltd (ASX: RML ) ( Resolution or Company ) is pleased to announce that it has intersected thick, prospective, pyritic, carbonaceous and dolomitic siltstones and shales associated with flat lying VTEM anomalies, at shallow depths during the maiden RC Drilling program on the Benmara Project. Assay results returned elevated lead, zinc and silver (Pb-Zn-Ag) of up to 198.5 ppm Pb in HoleID: 21BM006; 357 ppm Zn in HoleID: 21BM007; 307ppm Cu in HoleID: 21BM013; and 0.65ppm Ag in HoleID: 21BM009. These values are in the order of 5 x background for an average shale (AusIMM Field Geologists Manual, 2011).

Highlights

• RC Drilling confirms 3km long, 1km wide and up to 194m thick packages of highly prospective pyritic shales and siltstone rock units interpreted to be Benmara Group and equivalent to host rocks for world class deposits in the region. Regional examples are McArthur River, Lady Loretta, Walford Creek and Century Deposits

• RC drilling assays also reported anomalous Fe-Mn carbonate alteration and elevated thallium (Tl) trace element within the Benmara Group increasing to the east. There is a similar characteristic halo around the HYC, Lady Loretta and Century deposits and indicates likely proximity to mineralisation at RML’s Benmara Project

Drilling followed up conductive rock units identified by the Company’s airborne VTEM geophysics survey in 2021. These conductive units can be excellent trap sites (reductive units) for base and battery metal mineralisation, encountered over more than a 3km strike length and 1km width and remain open in all directions. As seen at Walford Creek, the target stratigraphy includes fine-grained sandstones, siltstones and shales, including carbonate alteration and pyrite rich zones (Northwest Mineral Province Deposit Atlas, 2019). The target unit overlies a thick dolomite unit which is possibly equivalent to the Walford Dolomite (or the Tina Dolomite) and contains bright green, strongly altered tuff layers, which may be equivalent to tuffaceous marker horizons present at Walford Creek. We are targeting sub basins with the aid of tuff “marker” horizons to determine where we are in the stratigraphy. At Walford Creek a positive correlation has been noted between the degree of alteration of the tuff marker horizons and the grades of mineralisation present in the underlying unit (Northwest Mineral Province Deposit Atlas, 2019).

This is a fantastic outcome given the conductive sedimentary units lie beneath a blanket of black clay and aeolian cover negating the use of surface geochemical techniques, and it’s only through modern geophysics that targets like this are identified.

RML submitted 3m composite multi-element samples for the entire program to allow for geochemical vectoring. Analysis of the geochemistry has revealed some excellent vectors known to be associated with halos present at Lady Loretta, HYC and Century base and battery metal deposits (Leach et al, 2005).

• (1) The presence of Fe-Mn alteration associated with the prospective units

• (2) The presence of anomalous trace element thallium (Tl) increasing from the WNW to ESE

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ASX RELEASE

Immediate follow up drill targets have been defined based on geochemical vectors combined with the position of prospective structures and interpreted units along strike and VTEM results.

RML is very positive about this project that in addition to planning further drilling, RML has signed a contract to undertake further VTEM in 2022 on their newly acquired ground. Final plans for these programs will be announced in the new year.

A full desktop review is planned over the wet season (summer months), including analysis of thin sections and geochronology to further enhance the Company’s understanding of the host rocks and alteration ahead of next field season. Drilling approvals will be submitted well ahead of dry season.

Resolution is excited to be one of the first movers in South Nicholson Basin and has received significant positive interest from multiple parties regarding the project.

Detailed Geological Interpretation

Vectors to mineralisation

Alteration & Trace Element Haloes

Fe-Mn carbonate alteration halos are present at Lady Loretta, HYC and Century deposits and are thickest immediately surrounding the ore. The halo can extend for distances varying from the hundreds of metre through to the tens of kilometre scale (Leach et al, 2005). The RC drilling intersected values of 0.1-0.2% Mn and 3-5% Fe within a carbonaceous shales and siltstones.

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Figure 4 Schematic section of typical Fe-Mn carbonate alteration halos associated dolomitic siltstone-hosted deposits of northern Australia e.g. Lady Loretta, HYC and Century (Leach et al, 2005)

Thallium (Tl) is an important geochemical indicator (trace element) and vector to stratiform Zn-Pb-Ag mineralisation and occurs at values of 100 to 1,000 ppm through the Zn-Pb ores and decreases to values of less than 1 ppm at distances of 1 to 20 km along the favourable horizon (Leach et al, 2005). The Company’s Benmara drilling intersected a maximum value of 42ppm Tl, with multiple samples exceeding 1ppm Tl indicating these holes could be within kilometres of an ore zone (Figure 5). There is an increase in Tl from west to east within the carbonaceous siltstones and shales.

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ASX RELEASE

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Typical signature of thallium
halo surrounding sediment
hosted base metal occurrence
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Figure 5 Thallium (Tl) results coloured by RC drillhole. Note holes 21BM001, 21BM002, 21BM007, 21BM008, 21BM014 and 21BM015 intersected thick carbonaceous siltstone and shale units.

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NE Trending
Structures
Thallium
Vector
Murphy Inlier
Carbonaceous
Siltstones & Shales
Dolomite
Section B
Target Zone
Section A
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Figure 6 Drill collar locations of recently completed RC drilling program and cross sections A and B. Prospective host rocks overlying dolomite unit analogous to Walford Creek and HYC stratigraphy. The thallium values increase (vector) towards a Target Zone with intersecting NW and ENE trending structures. The NW structures trend towards the Batten Fault Zone associated with the formation of HYC. The ENE trending structures form part of the Fish River Fault System associated with the formation of Walford Creek. Background TMI magnetics.

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ASX RELEASE

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Cross Section A
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Figure 7 Cross Section A

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Cross Section B
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Figure 8 Cross Section B – with increasing thallium trace element to the east indicating a vector towards mineralisation

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ASX RELEASE

RML previously reported results from a VTEM Max survey (RML ASX Announcement 9/7/2021) which was utilised for RC drill targeting. VTEM is a geophysical technique which can directly detect massive sulfides and/or identify conductive formations and thus could also detect reductant carbonaceous or pyritic shales in certain conditions, which are an excellent trap site for copper or base metal mineralisation.

2.5D Inversion of Resolution’s Airborne VTEM geophysics survey data

Resolution Minerals is a small but innovative exploration company and is always seeking to deploy the latest cutting edge exploration techniques with the aim of better exploration outcomes. Recently RML engaged Intrepid Geophysics to undertake a 2.5D Airborne Electromagnetic inversion on the Benmara VTEM Max data, which was received from Geotech with typical industry standard CDI and 1D inversions.

The 2.5D AEM inversion technology was developed in-house by Intrepid Geophysics and produces very clean and spatially accurate images of subsurface conductivity in both cross section and plan and can model topography and irregular subsurface structures. The software was developed to facilitate accurate targeting of ore bodies, mapping of geology and geological structures and is much more cost effective than alternatives such as follow up ground EM surveys.

The exploration team was very pleased with the correlation of forward modelling to actual drilling results and this gives the Company confidence to explore in the region using this technique.

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Planned 2022
Follow Up
Planned 2022
Follow Up
2021 RC On New Tenure
(EL32229)
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Figure 9 - 3D perspective view looking north-west on the Benmara 2.5D Inversion. 2021 RC location relative to planned 2022 drilling areas

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ASX RELEASE

Regional Setting and Equivalence

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Benmara Target Area
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Figure 10: Geology of the Mt. Isa-McArthur basins of northern Australia showing the location of major tectonic elements and the position of SEDEX deposits (Emsbo et al, 2016).

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ASX RELEASE

Stratigraphic Correlations

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HYC Walford Creek Century / Lady Loretta Benmara Target Area Stratigraphic correlations between the Mount Isa Province, the McArthur Basin and the South Nicholson region with known mineralisation (stars) relative to the Benmara Group (Carson et al, 2020).

Table: Summary of analogous mineralisation in the region (Betts et al, 2003)	Table: Summary of analogous mineralisation in the region (Betts et al, 2003)	Table: Summary of analogous mineralisation in the region (Betts et al, 2003)	Table: Summary of analogous mineralisation in the region (Betts et al, 2003)	Table: Summary of analogous mineralisation in the region (Betts et al, 2003)
State	NT	NT	QLD	QLD	QLD
Region	Southern McArthur Basin	South Nicholson Basin	Lawn Hill Platform	Lawn Hill Platform	Lawn Hill Platform
Group	McArthur Group	Benmara Group	Fickling Group	McNamara Group	McNamara Group
Formation	Barney Creek Formation	Crow Formation	Mt Les Siltstone	Lawn Hill Formation	Lady Loretta Formation
Age (Ma)	1639+/-3	~1640	1640+/-7	1595+/-6	1647+/-4
Deposit Example	HYC (McArthur River)	RML Targets	Walford Creek	Century	Lady Loretta
Deposit Style	Stratiform Zn-Pb- Ag	Stratiform Zn-Pb- Ag & Sediment Hosted Cu	Stratiform Cu- Pb-Zn-Ag-Co	Sediment Hosted Zn-Pb- Ag	Stratiform Zn- Pb-Ag
Host Rock	Dolomitic siltstone, coarse sedimentary breccias, tuffaceous horizons, organic rich pyritic shale.	Carbonaceous, dolomitic and pyritic siltstone and shale (organic rich) with tuffaceous horizons.	Carbonaceous , dolomitic and pyritic shales and local talus breccias.	Siliciclastic, carbonaceous, sideritic, shale and siltstone with tuffaceous horizons.	Carbonaceous pyritic, dolomitic and sideritic siltstone and shale.
Structure	Batten Fault Zone	Fish River Fault	Fish River Fault	Termite Range Fault	NA

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ASX RELEASE

Benmara potentially analogous to the Walford Creek Deposit

The Walford Creek Deposit has the following characteristics (www.aeonmetals.com.au/walford-creek)

• Sediment hosted stratiform Cu-Co-Ag-Pb-Zn mineralisation style

• Metalliferous basement fluids travel upwards against the Fish River Fault (extends to Benmara Project) on the boundary of the Mt Les Formation and Peters Creek Volcanics (Equivalent to Crow –

• Formation and Murphy Inlier Jarrett et al AGES 2020)

• Peters Creek Volcanics “wall” forcing fluids upwards to contact overlying conductive shale units

• Deposit of 40.9 Mt @ 2.03% CuEq (including 50,300t of contained cobalt metal)

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Base metal mineralisation at Walford Creek is predominantly hosted in pyritic sedimentary units and associated dolomite (Mt Les Siltstone), which abut the steeply dipping Fish River Fault Zone for a strike length of 10km. This same fault system extends west across the NT border onto Resolution Minerals’ Benmara Project ( Figure 3 ).

The Mt Les Siltstone of the Fickling Group is stratigraphically and temporally equivalent to the Riversleigh Siltstone of the McNamara Group (both part of the Lawn Hill Platform), and the Crow Formation of the Benmara Group (South Nicholson Basin), which has been identified on Resolution Minerals’ Benmara Project . All three formations contain reduced, organic rich shales which make excellent depositional sites for base metal mineralisation (i.e. trigger metal precipitation).

Base metal rich fluids flow up along the contact of the Peter Creek Volcanic “wall” (akin to the Murphy Inlier at Benmara) bringing metalliferous fluids in contact with reductive sedimentary units PY1, PY3 of Mt Les Formation in QLD, equivalent to pyritic shales and siltstones present at Benmara

Figure 11 Walford Creek Schematic cross section showing the stylised relationship between the high-grade copper core (red) and the surrounding cobalt mineralisation (blue) from (Aeon Metals Website, August 2019) with annotations from Resolution.

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ASX RELEASE

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The Benmara Project , Northern Territory; comprises of five (5) tenements total area 2,230km[2] EL32228 was recently purchased outright from Strategic Energy Resources Ltd (ASX:SER) with the transfer of tenement title currently underway. The tenement covers 663km[2] along-strike from the Walford Creek Cu-Ag-Pb-Zn-Co and Westmoreland U Deposits on the Fish River Fault in the Northern Territory.

EL32229 and EL31287 is owned by Cedar Resources Pty Ltd outright. Resolution executed a binding term sheet with Cedar Resources Pty Ltd (Vendors) on 27 September 2021 to acquire a 100% interest in the tenements covering 542km[2] adjacent to the existing EL32228. RML has an exclusive Option to purchase the project outright within 12 months (26/9/2022) for the purchase cost of $250,000 in RML shares or cash, at Resolution’s election (shares subject to shareholder approval) or RML can walk away. RML must keep the tenement in good standing and pay tenement rental.

EL32849 and EL32850 are in application, 100% owned by Resolution Minerals, and cover the margin of the South Nicholson Basin to the south-west of the existing tenements. Upon grant this will add 1,026km[2] to the project area.

For further information please contact Duncan Chessell the authorising officer:

Duncan Chessell Managing Director Resolution Minerals Ltd +61 414 804 055 duncan@resolutionminerals.com www.resolutionminerals.com

Or Julian Harvey Investor Communications Resolution Minerals Ltd +61 404 897 584 j.harvey@resolutionminerals.com

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ASX RELEASE

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 Australian Institute of Geoscientists. Mr Duncan Chessell holds shares, options and performance rights in and 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 as “Copper Drill Targets Identified – Benmara Project” on 1 September 2021. The Company is not aware of any new information or data that materially affects the information included in this announcement.

The Walford Creek Resource estimate* has three components, namely a Vardy/Marley Copper Resource, a Vardy/Marley Cobalt Peripheral Resource and the Amy Copper Resource. These combined Resources of 40.9 Mt @ 2.03% CuEq (Copper Equivalent) (including 50,300t of cobalt metal content) shows Walford Creek to be one of the highest grades and largest tonnages copper/cobalt sulfide deposit in Australia. (Reference www.aeonmetals.com.au/walford-creek/ and ASX Announcement 17 December 2019 “ Substantial Walford Creek Resource Upgrade ” , Aeon Metals Ltd ASX code AML ).

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Appendix 1. Summary of drillhole details at the Territory, Australia.	Appendix 1. Summary of drillhole details at the Territory, Australia.	Appendix 1. Summary of drillhole details at the Territory, Australia.	Appendix 1. Summary of drillhole details at the Territory, Australia.	Appendix 1. Summary of drillhole details at the Territory, Australia.	Appendix 1. Summary of drillhole details at the Territory, Australia.	Appendix 1. Summary of drillhole details at the Territory, Australia.	Appendix 1. Summary of drillhole details at the Territory, Australia.	Appendix 1. Summary of drillhole details at the Territory, Australia.	Appendix 1. Summary of drillhole details at the Territory, Australia.	Appendix 1. Summary of drillhole details at the Territory, Australia.
Hole ID	Easting	Northing	SRTM RL (m)	Azi	Dip	EOH Depth (m)	Cu ppm	Zn ppm	Pb ppm	Ag ppm
21BM001	693567	8013704	274.87	-	-90	210	NSI	NSI	NSI	NSI
21BM002	693573	8013104	275.11	-	-90	228	NSI	NSI	NSI	NSI
21BM003	692571	8012152	275.7	-	-90	198	NSI	NSI	NSI	NSI
21BM004	691570	8011214	274.2	-	-90	126	NSI	NSI	NSI	NSI
21BM005	691580	8012449	273.74	-	-90	150	NSI	NSI	NSI	NSI
21BM006	690566	8012497	272.99	-	-90	210	NSI	NSI	NSI	NSI
21BM007	693562	8013806	274.69	-	-90	174	NSI	NSI	NSI	NSI
21BM008	692570	8013415	274.98	-	-90	228	NSI	NSI	NSI	NSI
21BM009	692561	8013994	275.62	-	-90	156	NSI	NSI	NSI	NSI
21BM010	689575	8012860	274.26	-	-90	264	NSI	NSI	NSI	NSI
21BM011	690571	8012998	273.15	-	-90	252	NSI	NSI	NSI	NSI
21BM012	690532	8015306	278.62	-	-90	180	NSI	NSI	NSI	NSI
21BM013	690550	8015174	279.55	-	-90	204	NSI	NSI	NSI	NSI
21BM014	694580	8012785	276.31	-	-90	186	NSI	NSI	NSI	NSI
21BM015	693429	8013924	274.36	-	-90	126	NSI	NSI	NSI	NSI

Table 1a: RML drill collar location and significant intervals for the Benmara Project, Northern Territory, Australia.

Notes for Tables 1a

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 MGA94, Zone 53

3. Drilling is conducted with 6m long drill rods intervals are rounded to one decimal place.

4. Elevation and Hole Depth are in metres

5. Azimuth is in Degrees Grid North

6. Dip is in degrees

7. All drilling is 5 & 3/4" diameter RC chip drilling, all of hole is sampled

8. Significant results are shown for intercepts >0.2% Cu, >0.3% Zn, >0.3% Pb and > 10ppm Ag with no more than 3m of internal dilution

9. NSI = No Significant Interval

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ASX RELEASE

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 Benmara Project, Northern Territory, Australia. 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	•	Sampling was undertaken using
techniques	channels, random chips, or specific		standard industry practices and a
	specialised industry standard measurement		standard operating procedure to
	tools appropriate to the minerals under		ensure continuity of work practices
	investigation, such as down hole gamma		between staff.
	sondes, or handheld XRF instruments, etc.).	•	RC chip sample intervals were set
	These examples should not be taken as		at 3m intervals (1/2 rod length).
	limiting the broad meaning of sampling.	•	Individual samples weigh less than
	• Include reference to measures taken to		3kg to ensure total preparation at
	ensure sample representivity and the		the laboratory pulverisation stage
	appropriate calibration of any measurement		to produce 30gram charge for fire
	tools or systems used.		assay and 0.25gram for multi-acid
	• Aspects of the determination of mineralisation		ICP-MS analysis. The sample size
	that are Material to the Public Report.		is deemed appropriate for the
	• In cases where ‘industry standard’ work has		grain size of the material being
	been done this would be relatively simple		sampled.
	(e.g., ‘reverse circulation drilling was used to	•	QAQC samples (standards, blanks
	obtain 1 m samples from which 3 kg was		and duplicates) are inserted into
	pulverised to produce a 30 g charge for fire		the sequences as per industry best
	assay’). In other cases, more explanation may		practice the details of which are
	be required, such as where there is coarse Au		set out below in sub-sampling
	that has inherent sampling problems. Unusual		techniques section.
	commodities or mineralisation types (e.g.
	submarine nodules) may warrant disclosure
	of detailed information.
Drilling	• Drill type (e.g. core, reverse circulation, open-	•	Reverse Circulation with a 5 3/4"
techniques	hole hammer, rotary air blast, auger, Bangka,		hole diameter and a Sandvik face
	sonic, etc.) and details (e.g. core diameter,		sampling “button” bit.
	triple or standard tube, depth of diamond tails,	•	No downhole surveys were
	face-sampling bit or other type, whether core		completed.
	_is oriented and if so, by what method, etc.). _	•	All holes were drilled vertical.
Drill sample	• Method of recording and assessing core and	•	Chips were logged and sampled
recovery	chip sample recoveries and results assessed.		on site at Benmara Project for the
	• Measures taken to maximise sample recovery		full duration of the program by
	and ensure representative nature of the		qualified geologists using the
	samples.		drillers recorded depth against the
	• Whether a relationship exists between sample		number of 3m samples recovered.
	recovery and grade and whether sample bias		No significant sample loss was
	may have occurred due to preferential		observed.
	loss/gain of fine/coarse material.	•	Drillers monitored the shroud size
			to ensure quality recovery
		•	No relationship between sample
			recoveryandgrade is identified.

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ASX RELEASE

Criteria	JORC Code explanation	Commentary	Commentary
Logging	• Whether core and chip samples have been	•	Chip logging is carried out by
	geologically and geotechnically logged to a		contracted qualified geologists
	level of detail to support appropriate Mineral		using a project specific logging
	Resource estimation, mining studies and		procedure. Data recorded
	metallurgical studies.		includes, but is not limited to,
	• Whether logging is qualitative or quantitative		lithology, alteration and sulphide
	in nature. Core (or costean, channel, etc.)		mineralogy. This is supervised by
	photography.		Resolution’s Exploration Manager,
	• The total length and percentage of the		who is familiar with the
	relevant intersections logged.		mineralisation style and nature.
			Rock codes have been set up
			specifically for the project.
		•	Drill technique is RC, therefore can
			be used to support appropriate
			Mineral Resource estimation,
			mining studies and metallurgical
			studies.
		•	Drill logging is qualitative by
			geological features.
		•	All drilled intervals (100%) are
			logged and recorded as standard
			operating practice.

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Criteria	JORC Code explanation	Commentary	Commentary
Sub-	• If core, whether cut or sawn and whether	•	Drill chips intervals were collected
sampling	quarter, half or all core taken.		from a cyclone splitter (dry), then
techniques	• If non-core, whether riffled, tube sampled,		submitted for analysis at the ALS
and sample	rotary split, etc. and whether sampled wet or		laboratory in Adelaide.
preparation	dry.	•	100% of the samples were
	• For all sample types, the nature, quality and		submitted for assay.
	appropriateness of the sample preparation	•	A 20% sample split is considered
	technique.		representative and appropriate for
	• Quality control procedures adopted for all		exploration stage. Appropriate
	sub-sampling stages to maximise		high, medium and low gold and
	representivity of samples.		base metal standards (CRM’s) are
	• Measures taken to ensure that the sampling		used on a 1:50 basis (2%). Blanks
	is representative of the in situ material		are inserted on a 1:50 basis (2%).
	collected, including for instance results for		Duplicate samples were taken on
	field duplicate/second-half sampling.		a 1:50 basis (2%). Laboratories
	• Whether sample sizes are appropriate to the		introduce QAQC samples and
	grain size of the material being sampled.		complete duplicate check assays
			on a routine basis.
		•	Sample preparation is considered
			appropriate and was undertaken
			by ALS Adelaide (PUL-23) using
			70% to <2mm Crush and Pulverize
			85% to <75 um. Samples were
			split and were subsequently
			analysed at BV laboratory in Perth,
			Western Australia (multielement
			and gold). Gold was analysed by
			Fire Assay (Au-AA23) with an AAS
			finish using a 30gram nominal
			sample weight. 48 elements were
			analysed by multi-acid (ME-MS61)
			with an ICP-AES/MS finish using a
			0.25gram sample weight. Gold
			analysis was completed on
			selective samples only.
		•	Sample size as defined above is
			considered appropriate to the
			material sampled.

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Criteria	JORC Code explanation	Commentary	Commentary
Quality of	• The nature, quality and appropriateness of	•	The sampling digest methods are
assay data	the assaying and laboratory procedures used		considered appropriate and
and	and whether the technique is considered		industry standard. ME-MS61 with
laboratory	partial or total.		ICP-AES/MS finish was applied to
tests	• For geophysical tools, spectrometers,		all samples. Au-AA23 with AAS
	handheld XRF instruments, etc., the		finish was applied to selective
	parameters used in determining the analysis		samples.
	including instrument make and model,	•	No use of portal XRF is reported.
	reading times, calibrations factors applied and	•	QAQC procedures included the
	their derivation, etc.		insertion of appropriate high,
	• Nature of quality control procedures adopted		medium and low gold and base
	(e.g. standards, blanks, duplicates, external		metal Certified Reference
	laboratory checks) and whether acceptable		Materials (CRM) on a 1:50 basis
	levels of accuracy (i.e. lack of bias) and		(2%), Blank material on a 1:50
	precision have been established.		basis (2%) and duplicates on a
			1:50 basis (2%) for a total insertion
			rate of 6%, which is appropriate to
			the exploration stage. QC checks
			are conducted after results are
			received utilising Company QC
			and supplied internal laboratory
			QC information. Laboratories
			introduce QAQC samples and
			complete duplicate check assays
			on a routine basis.
Verification	• The verification of significant intersections by	•	At least two geologists have
of sampling	either independent or alternative company		reviewed the physical chips..
and	personnel.	•	Drilling information is digitally
assaying	• The use of twinned holes.		entered and stored following
	• Documentation of primary data, data entry		documented chip handling
	procedures, data verification, data storage		procedures and backed up
	(physical and electronic) protocols.		electronically.
	• Discuss any adjustment to assay data.	•	No adjustment has been made to
			theprimaryassaydata.
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		grid (MGA94 Zone 53).and have
	surveys), trenches, mine workings and other		been measured by handheld GPS
	locations used in Mineral Resource		with a lateral accuracy of ±4
	estimation.		metres and a vertical accuracy of
	• Specification of the grid system used.		±10 metres. Collar RLs have been
	• Quality and adequacy of topographic control.		adjusted to the Shuttle Radar
			Topography Mission (SRTM)
			digital elevation model (DEM) of
			the Earth to obtain sub 5 metre
			vertical accuracy.

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Criteria	JORC Code explanation	Commentary	Commentary
Data spacing	• Data spacing for reporting of Exploration	•	Data spacing is insufficient to
and	Results.		establish the degree of geological
distribution	• Whether the data spacing, and distribution is		and grade continuity required for a
	sufficient to establish the degree of geological		Mineral Resource estimation.
	and grade continuity appropriate for the	•	Sample composting has not been
	Mineral Resource and Ore Reserve		applied to these exploration
	estimation procedure(s) and classifications		results.
	applied.
	• Whether sample compositing has been
	applied.
Orientation	• Whether the orientation of sampling achieves	•	The relationship between the
of data in	unbiased sampling of possible structures and		drilling orientation and the
relation to	the extent to which this is known, considering		orientation of key mineralised
geological	the deposit type.		structures has not been confirmed.
structure	• If the relationship between the drilling
	orientation and the orientation of key
	mineralised structures is considered to have
	introduced a sampling bias, this should be
	assessed and reported if material.
Sample	• The measures taken to ensure sample	•	A secure chain of custody protocol
security	security.		has been established with the site
			geologist transporting samples
			from site, directly to Northline in
			Alice Springs, who securely
			transport samples to the ALS
			laboratoryin Adelaide.
Audits or	• The results of any audits or reviews of	•	No review has been undertaken at
reviews	sampling techniques and data.		this time.

Section 2 Reporting of Exploration Results

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

Criteria	JORC Code explanation	Commentary	Commentary
Mineral	• Type, reference name/number, location and	•	Resolution Minerals Ltd has a
tenement	ownership including agreements or material		100% interest in EL32228 Mineral
and land tenure	issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites,		Exploration License. Resolution is in the process of transferring title from vendor Strategic Energy
status	wilderness or national park and environmental		Resources Ltd (Vendors). The
	settings.		completion of the binding term
	• The security of the tenure held at the time of		sheet (ASX:RML Announcement
	reporting along with any known impediments		15/12/2020) conditions have been
	to obtaining a licence to operate in the area.		made by Resolution to hold a
			100% interest in the tenement and
			consideration shares issued to
			vendors (ASX:RML
			Announcement 11/11/2021).
		•	EL32228 consists of 663km2and
			falls entirelywithin Benmara

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Criteria	JORC Code explanation	Commentary	Commentary
			Station and Creswell Downs
			Station, Northern Territory.
		•	The Benmara Project is centred
			approximately 340km ENE of
			Tenant Creek.
		•	The tenure is in good standing and
			no known impediments exist.
Exploration	• Acknowledgment and appraisal of exploration	•	Previous exploration work on the
done by other parties	by other parties.		Benmara Project includes; Surface Geochemical Sampling: stream sediments, BCL, soils &
			rock chips.
			Airborne Geophysics: GeoTEM,
			Radiometric & Magnetics.
			Ground Geophysics:Gravity,
			Seismic (17GA-SN5), Magnetics,
			Alpha meter (Scintillometer).
			Exploration Drilling:254 drill
			holes have been completed within
			EL32228.
			1 Rotary Muddrill hole BG04
			(IMC, 1968).7 ACdrill holes C02
			– 10 (AAR, 1977).133 RAB
			CJ216 – 578, MD8, MD10 (Ashton
			Mining, 1985).
			72 RCBEN001 (BHP, 1997),
			BPH1 – 74 (Mines Admin, 1979),
			W5_H1, W5_H2, W6_H1
			(Stockdale Prospecting, 1988)
			40 Diamonddrill holes including
			BDH1 – 5 and BDH67 (Mines
			Admin, 1978), DDHCJ1 – 140
			(Ashton Mining, 1985),
			1 Non – recordedmethod drill
			holes RN026815 (NTGS,
			unknown)
Geology	• Deposit type, geological setting and style of	•	Resolution Minerals Ltd is primarily
	mineralisation.		exploring for sediment-hosted base
			metal mineralisation (e.g. Walford
			Creek, HYC, Century) within the
			Benmara Group, Northern
			Territory.
		•	In 2020 Geoscience Australia
			proposed the Benmara Group get
			re-assigned to a Paleoproterozoic
			age (formerly thought to be
			Mesoproterozoic) after publishing
			new geochronology data on historic
			drill holes making the Benmara
			Group stratigraphically equivalent
			to the Fickling Group (Walford

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Criteria	JORC Code explanation	Commentary	Commentary
			Creek), McNamara Group
			(Century, Lady Loretta) and
			McArthur Group (HYC).
		•	The Benmara Group is bound to
			the north by the Fish River Fault,
			which is known to have structurally
			control fluid movement and
			mineralisation at Walford Creek.
		•	Resolution are targeting reduced
			sedimentary facies of the Benmara
			Group, which includes
			carbonaceous shale and siltstone,
			dolomite and sandstone.
Drill hole	• A summary of all information material to the	•	See Appendix 1 summary table of
Information	understanding of the exploration results including a tabulation of the following	•	drill hole results. An accurate dip and strike and the
	information for all Material drill holes:		controls on mineralisation are yet
	o easting and northing of the drill hole collar		to be determined and the true
	o elevation or RL (Reduced Level –		width of the intercepts is not yet
	elevation above sea level in metres) of the		known.
	drill hole collar
	o dip and azimuth of the hole
	o down hole length and interception depth
	o hole length.
	• If the exclusion of this information is justified
	on the basis that the information is not
	Material and this exclusion does not detract
	from the understanding of the report, the
	Competent Person should clearly explain why
	this is the case.
Data	• In reporting Exploration Results, weighting	•	This release relates to results from
aggregation methods	averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually	•	a geophysical survey; Resolution has not undertaken any drilling on EL32228.
	Material and should be stated.	•	The focus of historical drilling was
	• Where aggregate intercepts incorporate short		for diamonds and uranium
	lengths of high-grade results and longer		exploration using analysis
	lengths of low-grade results, the procedure		methods which do not apply to
	used for such aggregation should be stated		base metal exploration.
	and some typical examples of such	•	Additional details from historic
	aggregations should be shown in detail.		drilling are unknown.
	• The assumptions used for any reporting of	•	There are no historic drilling
	metal equivalent values should be clearly		intervals of significant
	stated.		mineralisation. No cut off, top cut
			or maximum interval of internal
			dilution has been applied.
		•	No metal equivalents have been
			used.
		•	Sample length weighted averaging
			was used to calculate the
			aggregated intervals of significant
			mineralisation. A cut off of0.2%

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Criteria	JORC Code explanation	Commentary	Commentary
			Cu, 0.3% Zn and 0.3% Pb and
			10g/t Ag (10ppm Ag) has been
			applied for significant intersections
			with a maximum dilution of 3m.
		•	No top cut has been applied.
		•	No metal equivalents have been
			used.
Relationship	• These relationships are particularly important	•	Down hole length has been
between	in the reporting of Exploration Results.		reported, as true width is not
mineralisati on widths and	• If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. • If it is not known and only the down hole	•	known, as insufficient work has been undertaken to understand the true width of intervals. “Down hole length, true width not
intercept	lengths are reported, there should be a clear		known” is stated in the notes to
lengths	statement to this effect (e.g. ‘down hole _length, true width not known’). _		Table 1a.
Diagrams	• Appropriate maps and sections (with scales)	•	Plan view of drill collar locations
	and tabulations of intercepts should be		have been included in the body of
	included for any significant discovery being		this report.
	reported These should include, but not be	•	A representative section has also
	limited to a plan view of drill hole collar		been provided.
	locations and appropriate sectional views.
Balanced	• Where comprehensive reporting of all	•	The reporting is considered
reporting	Exploration Results is not practicable, representative reporting of both low and high	•	balanced. Comprehensive reporting of all
	grades and/or widths should be practiced to		drilling and surface samples has
	avoid misleading reporting of Exploration		occurred in historical reports and
	Results.		reported when appropriate here.
Other	• Other exploration data, if meaningful and	•	Resolution Minerals flew a 351 line
substantive	material, should be reported including (but not		km VTEM survey from which the
exploration data	limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and		drill targets relating to this release were derived. Previous explorers drilling on EL32228 did not test the
	method of treatment; metallurgical test		VTEM conductors identified (RML
	results; bulk density, groundwater,		ASX Announcement 9/7/2021)
	geotechnical and rock characteristics;	•	VTEM (Versatile Time-Domain
	potential deleterious or contaminating		Electromagnetic) helicopter borne
	substances.		system developed by Geotech Ltd
			with a 35 m diameter transmitter
			loop. The VTEM Max can generate
			up to 866,000 NIA peak dipole
			moment (230Amps). The EM
			receiver provides both dB/dt and
			B-field measurements for Z, X and
			optional Y axis. The revised data
			acquisition system (full waveform)
			provides a wider range of time
			gate windows(18to 10msec).
Further	• The nature and scale of planned further work	•	A range of exploration techniques
work	(e.g. tests for lateral extensions or depth		are being considered to progress
	_extensions or large-scale step-out drilling). _		exploration includingdrilling.

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Criteria	JORC Code explanation	Commentary
	• Diagrams clearly highlighting the areas of	•Refer to figures in the body of this
	possible extensions, including the main	report.
	geological interpretations and future drilling
	areas, provided this information is not
	commercially sensitive.

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