RESOLUTION MINERALS LTD — Capital/Financing Update 2021

Aug 31, 2021

1 September 2021

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COPPER DRILL TARGETS IDENTIFIED - BENMARA PROJECT, NT

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• VTEM geophysics survey identifies 4km strike length drill target in favourable sediment hosted copper setting at the Benmara Project, Northern Territory

• Same geological setting as the Walford Creek Deposit *40.9Mt @ 2.03% CuEq

• • The Benmara Project complements the nearby Wollogorang Project and is part of Resolution’s strategy to explore for battery metals in Northern Australia

• Neighbours operating in the region include BHP, Rio Tinto, South32, Newcrest and Teck

• New copper / battery-metal drill targets are untested by prior drilling

• Prior exploration focussed on uranium and diamonds and did not assay for base metals

• 2,500m RC drilling to commence in October and will take ~2 weeks to complete

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Link to Video Explainer from Managing Director – Duncan Chessell

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Benmara Project Wollogorang
Project
OZ Minerals
earning-in
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Figure 1 The Underexplored Benmara Project is located on the boundary of the South Nicholson and McArthur Basins (NT), with ground held by BHP, Rio Tinto, South 32, Newcrest and Teck in the vicinity.

CAPITAL STRUCTURE

BOARD

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Ordinary Shares
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Issued 448 M

Options and rights Listed options 6 M @ 10c Listed options 74 M @ 12c Unlisted options 6 M @ 25c Unlisted options 13 M @ 8c Unlisted options 59 M @ 4c Unlisted rights 11 M

Performance Shares Craig Farrow - 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 2021 - Placement $3.2M @ 2.8c

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

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ASX RELEASE

Resolution Minerals Managing Director Duncan Chessell commented:

The Benmara Project, nearby to our Wollogorang Copper Project, is prospective for sedimentary hosted stratiform copper and other battery metals. The VTEM geophysics survey identified a large-scale conductive zone of 4km in length at shallow depth which is our priority drill target. The drill targets are all positioned on the regional scale Fish River Fault on which the analogous 40.9Mt @ 2.03% CuEq Walford Creek Deposit formed to our east, within host rocks of the same age. Another key consideration is the relative position of the drill targets, perched on the northern margin of the South Nicholson Basin, where the sediments onlap onto the Murphy Inlier. This is an ideal location for fluids to focus and precipitate metals in reductive trap sites. All the ingredients are present for the formation of a sediment hosted battery metal deposit and drill testing is highly warranted.

The renewable energy future of the planet will require a significant increase in battery metal supply. Resolution is well placed with our Northern Territory copper projects to be a part of the emerging battery metal super-cycle and leverage upward trending copper prices. The battery metal prospectivity of this underexplored part of the Northern Territory has only just started to be realised as evidenced by the recent arrival of the majors and mid-tiers. Metals such as copper, cobalt, nickel, lithium, HREE and other base metals are essential for a sustainable future.

The Benmara projects fits with our Company mantra of “hunting for giants - in big country” with gold in Alaska and copper and other battery-metals in the Northern Territory.

Summary

Resolution Minerals Ltd (ASX: RML ) ( Resolution or Company ) is pleased to announce that it has identified compelling drill targets on the Benmara Project in the Northern Territory. Drill targeting has resulted from initial exploration conducted by Resolution at the Benmara project following the recent grant of the tenure. A 2,500m RC drilling program is planned to commence in October and will take two (2) weeks to complete. Assay results will be reported to the market approximately four weeks later.

The targets have been derived from a VTEM Max geophysics survey flown by Resolution earlier this year ( RML ASX Announcement 9/7/2021 ), with final processing of the geophysics completed today alongside historic data review. The conductors identified could indicate the presence of massive sulfides or the presence of rocks that could be excellent trap sites (reductive units) for base metal mineralisation. The interpreted flat lying conductive sedimentary units at 60m to 120m depth lie beneath a blanket of black clay negating the use of surface geochemical techniques, and it’s only through modern geophysics that targets like this are identified. The VTEM survey was flown to test both the margin of the Murphy Inlier with the South Nicolson Basin for sediment hosted base metal mineralisation and areas of the Murphy Inlier for other styles of base metal mineralisation. Further analysis of the age of rock within our project tenements confirm similarities to those present at Walford Creek (ASX: AML) and the Century Mine (ASX: NCZ). No historic drill holes have tested the VTEM derived priority drill targets.

Previous explorers had focussed on shallow uranium and diamond prospectivity with almost no assays testing for base metals or gold. Figure 3 indicates previous drill holes and target of exploration activities by commodity.

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ASX RELEASE

Drill Targets: Target 1 = 4km length, Target 2 = 2km length

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Drill Targets
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Figure 2 Drill targets and regional setting, with interpreted extension of the Fish River Fault from QLD to the project.

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EL32228
Target 2
Target 1
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Figure 3 The two highest priority drill targets are VTEM conductors, defined as strong features in time-constant (Tau) imagery, coincident with onlapping basin sediments on the margin of South Nicholson Basin. Target 1 is 4km in length, Target 2 is ~2km in length

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ASX RELEASE

Benmara Prospectivity and Exploration Targeting

Resolution has assessed the Benmara Project for sediment hosted stratiform base metal mineralisation, using the Walford Creek Deposit as an analogy. The Company reviewed historic company data, considered new Geoscience Australia interpretation of the geology and the updated SEEBASE™ depthto-basement Model of the surrounding basin architecture.

Recently, the prospectivity was greatly enhanced by work undertaken by the “Exploring for the Future” initiative, which included contributions from Geoscience Australia (GA), University of Adelaide, NTGS and University of Melbourne (Carson, et al., 2020).

Geochronology published by Geoscience Australia in 2020, demonstrates the Benmara Group is older than previously thought. Importantly GA determined that the Benmara Group is Paleoproterozoic instead of Mesoproterozoic, and stratigraphically and temporally equivalent to the prospective Fickling Group (Walford Creek Deposit Cu-Pb-Zn-Ag-Co) and the McNamara Group (Century Mine Pb-Zn-Ag). i.e. the right age and type of rocks are present.

The Exploring for the Future initiative has established evidence supporting a regional shallow-marine hydrothermal circulatory system and potential for associated base metal mineral systems coincident with the Benmara Project. The hydrothermal system is similar in age to base metal mineralisation in the well-endowed Mount Isa Province.

During 2021 Resolution completed a VTEM Max™ geophysical survey over the central zone of the tenement, targeting the basin margin where prospective onlapping sediments from the South Nicholson abutted the Murphy Inlier. The proposed model is the Murphy Inlier and acts as a wall directing upwelling fluid flow carrying metalliferous fluids to flow up the Fish River Fault. These fluids then flow up and through the potentially reductive sediments close to surface. The shaley-reductive units can act as traps sites for base metals to precipitate, potentially forming deposits. Due to the often-pyritic nature of these reductive units, they are detectable by VTEM surveys as conductive rocks or massive sulfides. Benmara is prospective for this mineralisation model.

Resolution’s findings are that many of the key ingredients present at the analogous Walford Creek Deposit are present at the Benmara Project:

1. VTEM conductors are positioned on the margin of the South Nicholson Basin where basin sediments onlap the Murphy Inlier coincident with the Fish River Fault

2. Benmara Group sediments including volcanic and reductive units are stratigraphically and temporally equivalent to the highly prospective Fickling and McNamara Groups

3. Historic drillhole DDHCJ59 located between the two drill targets, intersected laminated shales (potential host rock) at a depth of 55m is consistent with the modelled VTEM

SEEBASE ™ is a structurally enhanced depth-to-basement model that defines the 3D geometry of subsurface basin systems.

VTEM Max ™ (Versatile Time-Domain Electromagnetic) induces a “primary” magnetic field into the earth, which produces eddy currents in any conductors this field passes through. These eddy currents produce a time-varying secondary magnetic field that the VTEM Max system can measure. The stronger the conductor, the slower the secondary-field decays, so a “late-time” response is a favourable outcome. VTEM 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.

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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 Crow Formation at Benmara

Figure 4 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

The Benmara Project , Northern Territory; EL32228 is owned by Strategic Energy Resources Ltd outright. Resolution executed a binding term sheet with Strategic Energy Resources Ltd (ASX: SER) (Vendors) on 15 December 2020 to acquire a 100% interest in the Benmara Project covering 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. RML has an Option to purchase the project outright within 12 months and issued 2.5m shares to SER in December 2020 for the exclusive option. The Outright Purchase cost of $250,000 can be paid 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. RML intends to assess the potential of this project through the upcoming drilling to inform the option exercise decision.

(*Front page. Company website www.aeonmetals.com.au & ASX Announcement 17 December 2019 “Substantial Walford Creek Resource Upgrade”, Aeon Metals Ltd ASX code AML)

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For further information please contact Duncan Chessell the authorising officer:

Duncan Chessell Or Julian Harvey Managing Director Investor Communications Resolution Minerals Ltd Resolution Minerals Ltd +61 414 804 055 +61 404 897 584 duncan@resolutionminerals.com j.harvey@resolutionminerals.com www.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. 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 “Benmara Copper Project Acquisition, Northern Territory” on 15 December 2020. 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 ).

Appendix 1. VTEM Geophysics survey and summary of historic drilling at the Benmara Project, Northern Territory, Australia.

Table 1a: Summary of all known assays for base metals of historic drill intervals from the Benmara Project

Hole ID	From(m)	To(m)	Interval	Cu(ppm)	Pb(ppm)	Zn(ppm)
BDH4	0	12	12	NSI	NSI	NSI
BDH4	88.7	89	0.3	NSI	NSI	NSI
BDH5	52.4	52.7	0.3	NSI	NSI	NSI
BDH67	55.3	55.6	0.3	NSI	NSI	NSI

All results are covered by the accompanying JORC table.

Table 1b: Historic drill collar location for the Benmara Project, Northern Territory, Australia.

Hole ID	Drill Method	Company	Target Commodity	MGA Z53 East	MGA Z53 North	RL (SRTM)	Dip	Azi	EOH Depth
BDH1	Diamond	Mines Administration	Uranium	715705	8032634	188	-60	160	52.45
BDH2	Diamond	Mines Administration	Uranium	715724	8032664	148	-60	160	10
BDH3	Diamond	Mines Administration	Uranium	715701	8032631	188	-90	0	89.3
BDH4	Diamond	Mines Administration	Uranium	715757	8032601	193	-60	120	89.4
BDH5	Diamond	Mines Administration	Uranium	715932	8032615	212	-60	180	56
BDH67	Diamond	Mines Administration	Uranium	715828	8032617	214	-60	180	56.5
BEN001	RC	BHP	Diamonds	716280	8023070	111	-90	0	57

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Hole ID	Drill Method	Company	Target Commodity	MGA Z53 East	MGA Z53 North	RL (SRTM)	Dip	Azi	EOH Depth
BG04	RotaryMud	IMC Development Corp	Phosphate	681863	8019353	166	-90	0	42.67
BHP59	RC	Mines Administration	Uranium	718194	8030327	103	-90	0	22
BHP60	RC	Mines Administration	Uranium	718296	8030273	174	-90	0	22
BHP61	RC	Mines Administration	Uranium	718292	8030245	173	-90	0	22
BHP62	RC	Mines Administration	Uranium	718237	8030224	82	-90	0	22
BHP63	RC	Mines Administration	Uranium	718261	8030360	194	-60	210	34
BHP64	RC	Mines Administration	Uranium	718216	8030364	203	-60	190	34
BHP65	RC	Mines Administration	Uranium	718207	8030538	169	-90	0	22
BHP66	RC	Mines Administration	Uranium	718102	8030545	95	-90	0	22
BPH10	RC	Mines Administration	Uranium	715581	8032545	93	-90	0	30
BPH11	RC	Mines Administration	Uranium	715580	8032419	207	-90	0	40
BPH12	RC	Mines Administration	Uranium	715579	8032396	188	-90	0	10
BPH13	RC	Mines Administration	Uranium	715830	8032591	210	-90	0	30
BPH14	RC	Mines Administration	Uranium	715831	8032616	214	-90	0	30
BPH15	RC	Mines Administration	Uranium	715833	8032642	213	-90	0	30
BPH16	RC	Mines Administration	Uranium	715930	8032563	193	-90	0	30
BPH17	RC	Mines Administration	Uranium	715931	8032538	201	-90	0	4
BPH18	RC	Mines Administration	Uranium	716034	8032639	216	-90	0	20
BPH19	RC	Mines Administration	Uranium	716033	8032689	213	-90	0	20
BPH20	RC	Mines Administration	Uranium	716034	8032739	182	-90	0	20
BPH21	RC	Mines Administration	Uranium	716007	8032715	189	-90	0	20
BPH22	RC	Mines Administration	Uranium	715982	8032690	184	-90	0	20
BPH23	RC	Mines Administration	Uranium	716008	8032664	215	-90	0	20
BPH24	RC	Mines Administration	Uranium	716332	8032558	133	-90	0	20
BPH25	RC	Mines Administration	Uranium	716330	8032532	184	-90	0	4
BPH26	RC	Mines Administration	Uranium	716332	8032833	186	-90	0	20
BPH27	RC	Mines Administration	Uranium	716332	8032933	130	-90	0	20
BPH28	RC	Mines Administration	Uranium	716332	8033033	209	-90	0	20
BPH29	RC	Mines Administration	Uranium	716332	8033133	161	-90	0	20
BPH30	RC	Mines Administration	Uranium	716435	8032983	193	-90	0	20
BPH31	RC	Mines Administration	Uranium	716435	8032883	146	-90	0	20
BPH32	RC	Mines Administration	Uranium	716435	8032783	216	-90	0	20
BPH33	RC	Mines Administration	Uranium	716031	8032563	174	-90	0	14
BPH34	RC	Mines Administration	Uranium	716032	8032588	155	-90	0	52
BPH35	RC	Mines Administration	Uranium	715931	8032589	219	-90	0	55
BPH36	RC	Mines Administration	Uranium	715882	8032590	188	-60	180	28
BPH37	RC	Mines Administration	Uranium	715902	8032600	196	-90	0	58
BPH38	RC	Mines Administration	Uranium	715557	8032496	99	-90	0	58
BPH39	RC	Mines Administration	Uranium	715606	8032495	95	-90	0	58
BPH40	RC	Mines Administration	Uranium	715981	8032589	215	-90	0	46

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Hole ID	Drill Method	Company	Target Commodity	MGA Z53 East	MGA Z53 North	RL (SRTM)	Dip	Azi	EOH Depth
BPH41	RC	Mines Administration	Uranium	716460	8032527	180	-90	0	40
BPH42	RC	Mines Administration	Uranium	716460	8032556	180	-90	0	58
BPH43	RC	Mines Administration	Uranium	717589	8031303	184	-90	0	20
BPH44	RC	Mines Administration	Uranium	717615	8031278	209	-90	0	22
BPH45	RC	Mines Administration	Uranium	717976	8031013	96	-60	275	28
BPH46	RC	Mines Administration	Uranium	718004	8030985	97	-90	0	22
BPH47	RC	Mines Administration	Uranium	717951	8030881	92	-90	0	22
BPH48	RC	Mines Administration	Uranium	717924	8030881	110	-90	0	22
BPH49	RC	Mines Administration	Uranium	717898	8030881	123	-90	0	22
BPH50	RC	Mines Administration	Uranium	717872	8030881	119	-90	0	22
BPH51	RC	Mines Administration	Uranium	717794	8030881	98	-90	0	22
BPH52	RC	Mines Administration	Uranium	717795	8030934	116	-90	0	22
BPH53	RC	Mines Administration	Uranium	717768	8030881	92	-90	0	22
BPH54	RC	Mines Administration	Uranium	717820	8030881	98	-90	0	10
BPH55	RC	Mines Administration	Uranium	717964	8030971	100	-90	0	34
BPH56	RC	Mines Administration	Uranium	718002	8030827	100	-90	0	4
BPH57	RC	Mines Administration	Uranium	717644	8030293	169	-60	150	34
BPH58	RC	Mines Administration	Uranium	717747	8030249	124	-90	0	22
BPH6	RC	Mines Administration	Uranium	715580	8032444	173	-90	0	30
BPH68	RC	Mines Administration	Uranium	715956	8032565	202	-90	0	28
BPH69	RC	Mines Administration	Uranium	715934	8032615	212	-60	0	64
BPH7	RC	Mines Administration	Uranium	715580	8032470	99	-90	0	30
BPH70	RC	Mines Administration	Uranium	715957	8032616	212	-90	0	64
BPH71	RC	Mines Administration	Uranium	715907	8032616	213	-90	0	52
BPH72	RC	Mines Administration	Uranium	716131	8032561	212	-90	0	10
BPH73	RC	Mines Administration	Uranium	716230	8032560	212	-90	0	64
BPH74	RC	Mines Administration	Uranium	716580	8032552	90	-90	0	52
BPH8	RC	Mines Administration	Uranium	715580	8032495	97	-90	0	30
BPH9	RC	Mines Administration	Uranium	715580	8032519	97	-90	0	30
C07	AC	AAR Ltd	Uranium	683052	8018316	145	-90	0	66.7
C08	AC	AAR Ltd	Uranium	677701	8015442	150	-90	0	53.6
C09	AC	AAR Ltd	Uranium	678940	8011970	161	-90	0	77.8
C10	AC	AAR Ltd	Uranium	678975	8009236	142	-90	0	58.8
C11	AC	AAR Ltd	Uranium	691188	8016454	173	-90	0	72
C12	AC	AAR Ltd	Uranium	686720	8012720	159	-90	0	71.5
C13	AC	AAR Ltd	Uranium	684632	8010081	140	-90	0	42.9
CJ1	Diamond	Ashton MiningLtd	Diamonds	675364	8016625	93	-90	0	47.6
CJ120	Diamond	Ashton MiningLtd	Diamonds	679365	8017521	186	-90	0	134.8
CJ2	Diamond	Ashton MiningLtd	Diamonds	675364	8016625	93	-90	0	50
CJ216	RAB	Ashton MiningLtd	Diamonds	684842	8019991	141	-90	0	30

9

Hole ID	Drill Method	Company	Target Commodity	MGA Z53 East	MGA Z53 North	RL (SRTM)	Dip	Azi	EOH Depth
CJ217	RAB	Ashton MiningLtd	Diamonds	684836	8019845	104	-90	0	33
CJ218	RAB	Ashton MiningLtd	Diamonds	684834	8019702	81	-90	0	33
CJ219	RAB	Ashton MiningLtd	Diamonds	684835	8019551	194	-90	0	30
CJ220	RAB	Ashton MiningLtd	Diamonds	684835	8019404	103	-90	0	32
CJ221	RAB	Ashton MiningLtd	Diamonds	684836	8019256	174	-90	0	25
CJ222	RAB	Ashton MiningLtd	Diamonds	684832	8019111	111	-90	0	42
CJ223	RAB	Ashton MiningLtd	Diamonds	684833	8018964	198	-90	0	37
CJ224	RAB	Ashton MiningLtd	Diamonds	684833	8018815	147	-90	0	25
CJ225	RAB	Ashton MiningLtd	Diamonds	684830	8018664	172	-90	0	43
CJ226	RAB	Ashton MiningLtd	Diamonds	684827	8018520	132	-90	0	42
CJ227	RAB	Ashton MiningLtd	Diamonds	684826	8018371	117	-90	0	16
CJ228	RAB	Ashton MiningLtd	Diamonds	684824	8018226	165	-90	0	40
CJ229	RAB	Ashton MiningLtd	Diamonds	684826	8018075	115	-90	0	30
CJ230	RAB	Ashton MiningLtd	Diamonds	684821	8017924	147	-90	0	35
CJ231	RAB	Ashton MiningLtd	Diamonds	684820	8017781	190	-90	0	27
CJ232	RAB	Ashton MiningLtd	Diamonds	684819	8017633	185	-90	0	30
CJ233	RAB	Ashton MiningLtd	Diamonds	684819	8017486	117	-90	0	37
CJ234	RAB	Ashton MiningLtd	Diamonds	684817	8017341	116	-90	0	38
CJ235	RAB	Ashton MiningLtd	Diamonds	684815	8017186	188	-90	0	37
CJ236	RAB	Ashton MiningLtd	Diamonds	684816	8017042	77	-90	0	27
CJ237	RAB	Ashton MiningLtd	Diamonds	684814	8016897	174	-90	0	30
CJ238	RAB	Ashton MiningLtd	Diamonds	684809	8016741	154	-90	0	30
CJ239	RAB	Ashton MiningLtd	Diamonds	684812	8016596	80	-90	0	34
CJ240	RAB	Ashton MiningLtd	Diamonds	684809	8016450	189	-90	0	37
CJ241	RAB	Ashton MiningLtd	Diamonds	684805	8016309	135	-90	0	33
CJ242	RAB	Ashton MiningLtd	Diamonds	684804	8016011	145	-90	0	35
CJ243	RAB	Ashton MiningLtd	Diamonds	684801	8015861	137	-90	0	33
CJ244	RAB	Ashton MiningLtd	Diamonds	684801	8015718	181	-90	0	33
CJ245	RAB	Ashton MiningLtd	Diamonds	684799	8015568	174	-90	0	30
CJ246	RAB	Ashton MiningLtd	Diamonds	684798	8015421	183	-90	0	27
CJ247	RAB	Ashton MiningLtd	Diamonds	684796	8015269	149	-90	0	23
CJ248	RAB	Ashton MiningLtd	Diamonds	684794	8015116	142	-90	0	23
CJ249	RAB	Ashton MiningLtd	Diamonds	684795	8014968	182	-90	0	26
CJ250	RAB	Ashton MiningLtd	Diamonds	684795	8014968	182	-90	0	20
CJ251	RAB	Ashton MiningLtd	Diamonds	684794	8014671	109	-90	0	20
CJ252	RAB	Ashton MiningLtd	Diamonds	684791	8014520	191	-90	0	25
CJ253	RAB	Ashton MiningLtd	Diamonds	684789	8014376	71	-90	0	25
CJ254	RAB	Ashton MiningLtd	Diamonds	684793	8014226	116	-90	0	25
CJ255	RAB	Ashton MiningLtd	Diamonds	684787	8014082	198	-90	0	22
CJ256	RAB	Ashton MiningLtd	Diamonds	684786	8013933	191	-90	0	20

10

Hole ID	Drill Method	Company	Target Commodity	MGA Z53 East	MGA Z53 North	RL (SRTM)	Dip	Azi	EOH Depth
CJ257	RAB	Ashton MiningLtd	Diamonds	684785	8013783	118	-90	0	22
CJ258	RAB	Ashton MiningLtd	Diamonds	684783	8013635	78	-90	0	20
CJ259	RAB	Ashton MiningLtd	Diamonds	684782	8013488	143	-90	0	22
CJ260	RAB	Ashton MiningLtd	Diamonds	684781	8013343	197	-90	0	20
CJ261	RAB	Ashton MiningLtd	Diamonds	684780	8013194	113	-90	0	20
CJ262	RAB	Ashton MiningLtd	Diamonds	684780	8013044	154	-90	0	21
CJ263	RAB	Ashton MiningLtd	Diamonds	684777	8012898	197	-90	0	28
CJ264	RAB	Ashton MiningLtd	Diamonds	684779	8012754	127	-90	0	15
CJ265	RAB	Ashton MiningLtd	Diamonds	684775	8012607	129	-90	0	10
CJ266	RAB	Ashton MiningLtd	Diamonds	684776	8012462	183	-90	0	25
CJ267	RAB	Ashton MiningLtd	Diamonds	684775	8012309	118	-90	0	25
CJ268	RAB	Ashton MiningLtd	Diamonds	684773	8012165	188	-90	0	25
CJ269	RAB	Ashton MiningLtd	Diamonds	684771	8012020	188	-90	0	20
CJ270	RAB	Ashton MiningLtd	Diamonds	684769	8011875	174	-90	0	25
CJ271	RAB	Ashton MiningLtd	Diamonds	684770	8011723	117	-90	0	25
CJ272	RAB	Ashton MiningLtd	Diamonds	684769	8011576	188	-90	0	28
CJ273	RAB	Ashton MiningLtd	Diamonds	684767	8011429	145	-90	0	20
CJ274	RAB	Ashton MiningLtd	Diamonds	684766	8011282	136	-90	0	22
CJ275	RAB	Ashton MiningLtd	Diamonds	684765	8011137	67	-90	0	22
CJ276	RAB	Ashton MiningLtd	Diamonds	684763	8010983	150	-90	0	22
CJ277	RAB	Ashton MiningLtd	Diamonds	684764	8010840	112	-90	0	24
CJ278	RAB	Ashton MiningLtd	Diamonds	684758	8010694	190	-90	0	22
CJ279	RAB	Ashton MiningLtd	Diamonds	684760	8010541	191	-90	0	21
CJ280	RAB	Ashton MiningLtd	Diamonds	684758	8010396	194	-90	0	27
CJ281	RAB	Ashton MiningLtd	Diamonds	684757	8010250	137	-90	0	20
CJ282	RAB	Ashton MiningLtd	Diamonds	684756	8010104	172	-90	0	20
CJ283	RAB	Ashton MiningLtd	Diamonds	684755	8009957	153	-90	0	22
CJ284	RAB	Ashton MiningLtd	Diamonds	684753	8009799	120	-90	0	27
CJ285	RAB	Ashton MiningLtd	Diamonds	684752	8009657	184	-90	0	22
CJ286	RAB	Ashton MiningLtd	Diamonds	684749	8009510	163	-90	0	43
CJ29	Diamond	Ashton MiningLtd	Diamonds	683911	8018921	195	-90	0	240.9
CJ32	Diamond	Ashton MiningLtd	Diamonds	682925	8019236	211	-90	0	46.7
CJ34	Diamond	Ashton MiningLtd	Diamonds	683035	8019233	114	-90	0	45.05
CJ350	RAB	Ashton MiningLtd	Diamonds	680243	8015715	210	-90	0	25
CJ351	RAB	Ashton MiningLtd	Diamonds	680246	8015425	85	-90	0	25
CJ352	RAB	Ashton MiningLtd	Diamonds	680241	8015134	161	-90	0	25
CJ353	RAB	Ashton MiningLtd	Diamonds	680244	8014845	209	-90	0	23
CJ354	RAB	Ashton MiningLtd	Diamonds	680245	8014702	189	-90	0	22
CJ355	RAB	Ashton MiningLtd	Diamonds	680246	8014554	173	-90	0	22
CJ356	RAB	Ashton MiningLtd	Diamonds	680246	8014412	186	-90	0	22

11

Hole ID	Drill Method	Company	Target Commodity	MGA Z53 East	MGA Z53 North	RL (SRTM)	Dip	Azi	EOH Depth
CJ357	RAB	Ashton MiningLtd	Diamonds	680244	8014269	117	-90	0	28
CJ358	RAB	Ashton MiningLtd	Diamonds	680245	8014122	207	-90	0	45
CJ359	RAB	Ashton MiningLtd	Diamonds	680243	8013979	78	-90	0	22
CJ36	Diamond	Ashton MiningLtd	Diamonds	683912	8018537	181	-90	0	40.6
CJ360	RAB	Ashton MiningLtd	Diamonds	680244	8013833	161	-90	0	22
CJ361	RAB	Ashton MiningLtd	Diamonds	680244	8013688	196	-90	0	30
CJ362	RAB	Ashton MiningLtd	Diamonds	680245	8013544	147	-90	0	45
CJ363	RAB	Ashton MiningLtd	Diamonds	680246	8013399	117	-90	0	30
CJ364	RAB	Ashton MiningLtd	Diamonds	680246	8013109	192	-90	0	22
CJ365	RAB	Ashton MiningLtd	Diamonds	680244	8012816	82	-90	0	30
CJ366	RAB	Ashton MiningLtd	Diamonds	680244	8012526	79	-90	0	30
CJ367	RAB	Ashton MiningLtd	Diamonds	680243	8012240	100	-90	0	35
CJ368	RAB	Ashton MiningLtd	Diamonds	680246	8012094	145	-90	0	30
CJ369	RAB	Ashton MiningLtd	Diamonds	680246	8011950	204	-90	0	30
CJ370	RAB	Ashton MiningLtd	Diamonds	680243	8011805	79	-90	0	30
CJ371	RAB	Ashton MiningLtd	Diamonds	680243	8011662	201	-90	0	30
CJ372	RAB	Ashton MiningLtd	Diamonds	680247	8011517	80	-90	0	30
CJ373	RAB	Ashton MiningLtd	Diamonds	680246	8011369	76	-90	0	37
CJ374	RAB	Ashton MiningLtd	Diamonds	680245	8011226	185	-90	0	32
CJ375	RAB	Ashton MiningLtd	Diamonds	680244	8011080	156	-90	0	32
CJ376	RAB	Ashton MiningLtd	Diamonds	680244	8010937	169	-90	0	30
CJ377	RAB	Ashton MiningLtd	Diamonds	680244	8010788	107	-90	0	30
CJ378	RAB	Ashton MiningLtd	Diamonds	680243	8010651	167	-90	0	28
CJ379	RAB	Ashton MiningLtd	Diamonds	680242	8010501	119	-90	0	30
CJ38	Diamond	Ashton MiningLtd	Diamonds	683880	8018664	182	-90	0	252
CJ380	RAB	Ashton MiningLtd	Diamonds	680243	8010359	135	-90	0	22
CJ381	RAB	Ashton MiningLtd	Diamonds	680242	8010213	115	-90	0	37
CJ382	RAB	Ashton MiningLtd	Diamonds	680243	8009921	198	-90	0	30
CJ383	RAB	Ashton MiningLtd	Diamonds	680240	8009778	184	-90	0	28
CJ384	RAB	Ashton MiningLtd	Diamonds	680243	8009633	200	-90	0	22
CJ385	RAB	Ashton MiningLtd	Diamonds	680240	8009487	160	-90	0	31
CJ386	RAB	Ashton MiningLtd	Diamonds	680245	8014992	104	-90	0	37
CJ41	Diamond	Ashton MiningLtd	Diamonds	679566	8015016	154	-90	0	85
CJ418	RAB	Ashton MiningLtd	Diamonds	680246	8013252	120	-90	0	30
CJ419	RAB	Ashton MiningLtd	Diamonds	680245	8012963	102	-90	0	25
CJ420	RAB	Ashton MiningLtd	Diamonds	680243	8012674	155	-90	0	30
CJ421	RAB	Ashton MiningLtd	Diamonds	680244	8012385	124	-90	0	28
CJ422	RAB	Ashton MiningLtd	Diamonds	680242	8010069	136	-90	0	30
CJ423	RAB	Ashton MiningLtd	Diamonds	684760	8010590	193	-90	0	30
CJ424	RAB	Ashton MiningLtd	Diamonds	684762	8010641	142	-90	0	30

12

Hole ID	Drill Method	Company	Target Commodity	MGA Z53 East	MGA Z53 North	RL (SRTM)	Dip	Azi	EOH Depth
CJ425	RAB	Ashton MiningLtd	Diamonds	684760	8010685	190	-90	0	28
CJ426	RAB	Ashton MiningLtd	Diamonds	684763	8010738	131	-90	0	30
CJ427	RAB	Ashton MiningLtd	Diamonds	684762	8010789	93	-90	0	30
CJ428	RAB	Ashton MiningLtd	Diamonds	684768	8011474	183	-90	0	30
CJ429	RAB	Ashton MiningLtd	Diamonds	684767	8011522	190	-90	0	30
CJ430	RAB	Ashton MiningLtd	Diamonds	684770	8011561	188	-90	0	30
CJ431	RAB	Ashton MiningLtd	Diamonds	684767	8011628	115	-90	0	30
CJ432	RAB	Ashton MiningLtd	Diamonds	684768	8011673	71	-90	0	30
CJ433	RAB	Ashton MiningLtd	Diamonds	684796	8014872	71	-90	0	30
CJ434	RAB	Ashton MiningLtd	Diamonds	684795	8014916	171	-90	0	30
CJ435	RAB	Ashton MiningLtd	Diamonds	684797	8014957	182	-90	0	30
CJ436	RAB	Ashton MiningLtd	Diamonds	684797	8015014	153	-90	0	30
CJ437	RAB	Ashton MiningLtd	Diamonds	684798	8015063	100	-90	0	30
CJ45	Diamond	Ashton MiningLtd	Diamonds	675489	8016865	162	-90	0	59.4
CJ48	Diamond	Ashton MiningLtd	Diamonds	676423	8016830	183	-90	0	63.6
CJ535	Diamond	Ashton MiningLtd	Diamonds	683731	8019052	158	-90	0	145.5
CJ536	Diamond	Ashton MiningLtd	Diamonds	683543	8019132	112	-90	0	113.5
CJ56	Diamond	Ashton MiningLtd	Diamonds	687117	8019229	77	-90	0	68.4
CJ575	Diamond	Ashton MiningLtd	Diamonds	683388	8019202	89	-90	0	137
CJ576	RAB	Ashton MiningLtd	Diamonds	683633	8019399	118	-90	0	30
CJ577	RAB	Ashton MiningLtd	Diamonds	683633	8019497	115	-90	0	33
CJ578	RAB	Ashton MiningLtd	Diamonds	683634	8019178	201	-90	0	27
DDH CJ10	Diamond	Ashton MiningLtd	Diamonds	684650	8014377	182	-90	0	132
DDH CJ19	Diamond	Ashton MiningLtd	Diamonds	682873	8014643	183	-90	0	368.6
DDH CJ20	Diamond	Ashton MiningLtd	Diamonds	685045	8016816	136	-90	0	99.7
DDH CJ24	Diamond	Ashton MiningLtd	Diamonds	705569	8010475	181	-90	0	183.1
DDH CJ26	Diamond	Ashton MiningLtd	Diamonds	703343	8017105	112	-90	0	133
DDH CJ3	Diamond	Ashton MiningLtd	Diamonds	683995	8017758	136	-90	0	50
DDH CJ6	Diamond	Ashton MiningLtd	Diamonds	677696	8017354	187	-90	0	44.5
DDH CJ7	Diamond	Ashton MiningLtd	Diamonds	683507	8015597	116	-90	0	96.6
DDH CJ8	Diamond	Ashton MiningLtd	Diamonds	683860	8018798	135	-90	0	346
DDH CJ9	Diamond	Ashton MiningLtd	Diamonds	683642	8019348	140	-90	0	200
DDHCJ106	Diamond	Ashton MiningLtd	Diamonds	678075	8014817	172	-90	0	90
DDHCJ107	Diamond	Ashton MiningLtd	Diamonds	684346	8018617	78	-90	0	168.4
DDHCJ118	Diamond	Ashton MiningLtd	Diamonds	677958	8016593	90	-90	0	89.9
DDHCJ123	Diamond	Ashton MiningLtd	Diamonds	683770	8012591	87	-90	0	185.15
DDHCJ135	Diamond	Ashton MiningLtd	Diamonds	678964	8015028	175	-90	0	NR
DDHCJ137	Diamond	Ashton MiningLtd	Diamonds	678373	8015073	86	-90	0	NR
DDHCJ59	Diamond	Ashton MiningLtd	Diamonds	690298	8013257	69	-90	0	66.7
MD10	RAB	Ashton MiningLtd	Diamonds	682132	8008653	140	-90	0	103.7

13

Hole ID	Drill Method	Company	Target Commodity	MGA Z53 East	MGA Z53 North	RL (SRTM)	Dip	Azi	EOH Depth
MD7	Diamond	Ashton MiningLtd	Diamonds	706298	8002995	128	-90	0	55.4
MD8	RAB	Ashton MiningLtd	Diamonds	682132	8008653	140	-90	0	46.8
RABCJ165	Diamond	Ashton MiningLtd	Diamonds	687231	8016332	196	-90	0	42
RN026815	NR	NTGS	NR	701606	8013269	129	NR	NR	NR
W5_H1	RC	Stockdale Prospecting Ltd	Diamonds	716687	8030990	187	-90	0	26
W5_H2	RC	Stockdale Prospecting Ltd	Diamonds	716687	8030990	187	-90	0	42.9
W6_H1	RC	Stockdale Prospecting Ltd	Diamonds	720227	8031810	150	-90	0	47.9

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 GDA94, Zone 53.

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. Historic drilling is a mixture of AC, RAB, RC, Diamond and Rotary Mud of variable hole diameter.

8. There are no significant results for base metals

9. NR = not recorded.

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Table 1c

The following Figures 5, 6 and 7 are Resistivity Depth Images (RDI) section views. These RDI sections are shown in the video released with the announcement. The location of the north-south flights lines can be correlated to Figure 3, above.

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Location Map Line 3110

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----- Start of picture text -----

Flight Line
----- End of picture text -----

Figure 5 RDI Line 3110

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Location Map Line 3110

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Figure 6 RDI Line 3100

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Location Map Line 3090

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Figure 7 RDI Line 3090

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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 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	•	This release relates to results from
techniques	channels, random chips, or specific		a geophysical survey;
	specialised industry standard measurement	•	Resolution has not undertaken any
	tools appropriate to the minerals under		drilling on EL32228.
	investigation, such as down hole gamma	•	The focus of historical drilling was
	sondes, or handheld XRF instruments, etc.).		for diamonds and uranium
	These examples should not be taken as		exploration using analysis
	limiting the broad meaning of sampling.		methods which do not apply to
	• Include reference to measures taken to		base metal exploration.
	ensure sample representivity and the	•	Additional details from historic
	appropriate calibration of any measurement		drilling are unknown.
	tools or systems used.
	• Aspects of the determination of mineralisation
	that are Material to the Public Report.
	• In cases where ‘industry standard’ work has
	been done this would be relatively simple
	(e.g. ‘reverse circulation drilling was used to
	obtain 1 m samples from which 3 kg was
	pulverised to produce a 30 g charge for fire
	assay’). In other cases, more explanation may
	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-	•	This release relates to results from
techniques	hole hammer, rotary air blast, auger, Bangka,		a geophysical survey;
	sonic, etc.) and details (e.g. core diameter,	•	Resolution has not undertaken any
	triple or standard tube, depth of diamond tails,		drilling on EL32228.
	face-sampling bit or other type, whether core	•	The focus of historical drilling was
	is oriented and if so, by what method, etc.).		for diamonds and uranium
			exploration using analysis
			methods which do not apply to
			base metal exploration.
		•	Additional details from historic
			drillingare unknown.

16

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Criteria	JORC Code explanation	Commentary	Commentary
Drill sample	• Method of recording and assessing core and	•	This release relates to results from
recovery	chip sample recoveries and results assessed.		a geophysical survey;
	• Measures taken to maximise sample recovery	•	Resolution has not undertaken any
	and ensure representative nature of the		drilling on EL32228.
	samples.	•	The focus of historical drilling was
	• Whether a relationship exists between sample		for diamonds and uranium
	recovery and grade and whether sample bias		exploration using analysis
	may have occurred due to preferential		methods which do not apply to
	loss/gain of fine/coarse material.		base metal exploration.
		•	Additional details from historic
			drillingare unknown.
Logging	• Whether core and chip samples have been	•	This release relates to results from
	geologically and geotechnically logged to a		a geophysical survey;
	level of detail to support appropriate Mineral	•	Resolution has not undertaken any
	Resource estimation, mining studies and		drilling on EL32228.
	metallurgical studies.	•	The focus of historical drilling was
	• Whether logging is qualitative or quantitative		for diamonds and uranium
	in nature. Core (or costean, channel, etc.)		exploration using analysis
	photography.		methods which do not apply to
	• The total length and percentage of the		base metal exploration.
	relevant intersections logged.	•	Additional details from historic
			drillingare unknown.
Sub-	• If core, whether cut or sawn and whether	•	This release relates to results from
sampling	quarter, half or all core taken.		a geophysical survey;
techniques	• If non-core, whether riffled, tube sampled,	•	Resolution has not undertaken any
and sample	rotary split, etc. and whether sampled wet or		drilling on EL32228.
preparation	dry.	•	The focus of historical drilling was
	• For all sample types, the nature, quality and		for diamonds and uranium
	appropriateness of the sample preparation		exploration using analysis
	technique.		methods which do not apply to
	• Quality control procedures adopted for all		base metal exploration.
	sub-sampling stages to maximise	•	Additional details from historic
	representivity of samples.		drilling are unknown.
	• 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.

17

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Criteria	JORC Code explanation	Commentary	Commentary
Quality of	• The nature, quality and appropriateness of	•	This release relates to results from
assay data	the assaying and laboratory procedures used		a geophysical survey;
and	and whether the technique is considered	•	Resolution has not undertaken any
laboratory	partial or total.		drilling on EL32228.
tests	• For geophysical tools, spectrometers,	•	The focus of historical drilling was
	handheld XRF instruments, etc., the		for diamonds and uranium
	parameters used in determining the analysis		exploration using analysis
	including instrument make and model,		methods which do not apply to
	reading times, calibrations factors applied and		base metal exploration.
	their derivation, etc.	•	Additional details from historic
	• Nature of quality control procedures adopted		drilling are unknown.
	(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	•	This release relates to results from
of sampling	either independent or alternative company		a geophysical survey;
and	personnel.	•	Resolution has not undertaken any
assaying	• The use of twinned holes.		drilling on EL32228.
	• Documentation of primary data, data entry	•	The focus of historical drilling was
	procedures, data verification, data storage		for diamonds and uranium
	(physical and electronic) protocols.		exploration using analysis
	• Discuss any adjustment to assay data.		methods which do not apply to
			base metal exploration.
		•	Additional details from historic
			drillingare unknown.
Location of	• Accuracy and quality of surveys used to	•	This release relates to results from
data points	locate drill holes (collar and down-hole		a geophysical survey;
	surveys), trenches, mine workings and other	•	Resolution has not undertaken any
	locations used in Mineral Resource		drilling on EL32228.
	estimation.	•	The focus of historical drilling was
	• Specification of the grid system used.		for diamonds and uranium
	• Quality and adequacy of topographic control.		exploration using analysis
			methods which do not apply to
			base metal exploration.
		•	Additional details from historic
			drilling are unknown.
		•	The grid system used for the
			geophysical sensing survey was
			UTM grid (MGA94 Zone 53).
		•	Airborne survey lines have been
			measured by a Real time GPS
			Navigation System providing an in-
			flight accuracy up to 1.5 metres.
		•	Topographic control of the
			airborne geophysical survey was
			achieved using a Radar altimeter
			with an accuracy of approximately
			1 metre.

18

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Criteria	JORC Code explanation	Commentary	Commentary
Data spacing	• Data spacing for reporting of Exploration	•	Airborne geophysical survey data
and	Results.		was acquired continuously on 1km
distribution	• Whether the data spacing, and distribution is		line spacing.
	sufficient to establish the degree of geological	•	Resolution has not undertaken any
	and grade continuity appropriate for the		drilling on EL32228.
	Mineral Resource and Ore Reserve	•	The focus of historical drilling was
	estimation procedure(s) and classifications		for diamonds and uranium
	applied.		exploration using analysis
	• Whether sample compositing has been		methods which do not apply to
	applied.		base metal exploration.
		•	Data spacing on historical drilling
			is insufficient to establish the
			degree of geological and grade
			continuity required for a Mineral
			Resource estimation.
		•	Additional details from historic
			drillingare unknown.
Orientation	• Whether the orientation of sampling achieves	•	Geophysical survey data was
of data in	unbiased sampling of possible structures and		acquired in an orientation to avoid
relation to	the extent to which this is known, considering		running parallel to the dominant
geological	the deposit type.		structural trend and therefore
structure	• If the relationship between the drilling		maximise structural definition.
	orientation and the orientation of key	•	This release relates to results from
	mineralised structures is considered to have		a geophysical survey; therefore
	introduced a sampling bias, this should be		drilling orientation and sampling
	assessed and reported if material.		bias is not relevant to this release.
Sample	• The measures taken to ensure sample	•	This release relates to results from
security	security.		a geophysical survey; this section
			is not relevant to this release.
		•	No drilling has been undertaken by
			Resolution Minerals on the
			Benmara Project following the
			acquisition of the project
			announced on 15 December 2020.
		•	Additional details from historic
			drillingare unknown.
Audits or	• The results of any audits or reviews of	•	No independent audit was
reviews	sampling techniques and data.		undertaken on the geophysical
			data.
		•	Internal review of all data was
			undertaken by RML geoscientists
			on contractor provided data and
			analysis.
		•	The internal review determined the
			data and analysis are of good
			quality. No issues were identified.

19

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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 executed
tenement	ownership including agreements or material		a binding term sheet with Strategic
and land tenure	issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites,		Energy Resources Ltd (Vendors) as an Option to Purchase a 100% interest in the Benmara Project -
status	wilderness or national park and environmental		EL32228 (ASX:RML
	settings.		Announcement 15/12/2020).
	• The security of the tenure held at the time of	•	EL32228 consists of 663km2and
	reporting along with any known impediments		falls entirely within Benmara
	to obtaining a licence to operate in the area.		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)

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ASX RELEASE

Criteria	JORC Code explanation	Commentary	Commentary
Geology	• Deposit type, geological setting and style of	•	Resolution Minerals Ltd is primarily
	mineralisation.		exploring for sediment-hosted
			stratiform base metal
			mineralisation (e.g. Walford Creek)
			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, host to the
			Walford Creek deposit.
		•	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 will be targeting
			reduced sedimentary facies of the
			Benmara Group, which includes
			dolostones, sandstones and
			carbonaceous shales.
Drill hole	• A summary of all information material to the	•	This release relates to results from
Information	understanding of the exploration results including a tabulation of the following	•	a geophysical survey; Resolution has not undertaken any
	information for all Material drill holes:		drilling on EL32228.
	o easting and northing of the drill hole collar	•	The focus of historical drilling was
	o elevation or RL (Reduced Level –		for diamonds and uranium
	elevation above sea level in metres) of the		exploration using analysis
	drill hole collar		methods which do not apply to
	o dip and azimuth of the hole		base metal exploration.
	o down hole length and interception depth	•	Additional details from historic
	o hole length.		drilling are unknown.
	• If the exclusion of this information is justified on the basis that the information is not	•	See Appendix 1 summary table 1a and 1b of historic drill hole results.
	Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why	•	An accurate dip and strike and the controls on mineralisation are yet to be determined and the true
	this is the case.		width of the intercepts is not yet
			known.
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, theprocedure

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Criteria	JORC Code explanation	Commentary	Commentary
	used for such aggregation should be stated		methods which do not apply to
	and some typical examples of such		base metal exploration.
	aggregations should be shown in detail.	•	Additional details from historic
	• The assumptions used for any reporting of		drilling are unknown.
	metal equivalent values should be clearly	•	There are no historic drilling
	stated.		intervals of significant
			mineralisation. No cut off, top cut
			or maximum interval of internal
			dilution has been applied.
		•	No metal equivalents have been
			used.
Relationship	• These relationships are particularly important	•	This release relates to results from
between	in the reporting of Exploration Results.		a geophysical survey;
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	• •	Resolution has not undertaken any drilling on EL32228. The focus of historical drilling was for diamonds and uranium
intercept	lengths are reported, there should be a clear		exploration using analysis
lengths	statement to this effect (e.g. ‘down hole length, true width not known’).		methods which do not apply to base metal exploration.
		•	Additional details from historic
			drilling are unknown.
		•	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 and 1b.
Diagrams	• Appropriate maps and sections (with scales)	•	This release relates to results from
	and tabulations of intercepts should be		a geophysical survey;
	included for any significant discovery being	•	Resolution has not undertaken any
	reported These should include, but not be		drilling on EL32228.
	limited to a plan view of drill hole collar	•	The focus of historical drilling was
	locations and appropriate sectional views.		for diamonds and uranium
			exploration using analysis
			methods which do not apply to
			base metal exploration.
		•	Additional details from historic
			drilling are unknown.
		•	A plan view of historical drill collar
			locations has been included in the
			body of this report.
		•	No cross sections of historical
			drilling have been provided given
			holes were targeting diamonds
			and uranium and multi-element
			assay results are extremely
			limited.

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Criteria	JORC Code explanation	Commentary	Commentary
Balanced	• Where comprehensive reporting of all	•	This release relates to results from
reporting	Exploration Results is not practicable, representative reporting of both low and high	•	a geophysical survey; Resolution has not undertaken any
	grades and/or widths should be practiced to		drilling on EL32228.
	avoid misleading reporting of Exploration	•	The focus of historical drilling was
	Results.		for diamonds and uranium
			exploration using analysis
			methods which do not apply to
			base metal exploration.
		•	Additional details from historic
			drilling are unknown.
		•	The reporting is considered
			balanced.
		•	The proposed drilling area occurs
			within a region of black soil plains,
			a regolith type known to mask
			basement geochemical response.
			Historical soils are considered a
			null test (ineffective) and for this
			reason have not been included.
		•	Historical drilling results
			predominately include gravity
			separation of cuttings for diamond
			exploration and scintillometer
			readings and U, Th assays for
			uranium exploration and are not
			considered relevant to base metal
			exploration.
		•	Hole locations have been provided
			on aplan mapfor reference.
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 drilling on EL32228 did
	method of treatment; metallurgical test		not test the VTEM conductors
	results; bulk density, groundwater,		identified in this geophysical
	geotechnical and rock characteristics;		survey.
	potential deleterious or contaminating	•	As this release relates to results
	substances.		from a geophysical survey; this
			section is not relevant to this
			release.
		•	VTEM (Versatile Time-Domain
			Electromagnetic) helicopter borne
			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

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Criteria	JORC Code explanation	Commentary
		acquisition system (full waveform)
		provides a wider range of time
		gate windows (18 microseconds to
		10milliseconds).
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 including drilling.
	• 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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