RESOLUTION MINERALS LTD — Capital/Financing Update 2021

Aug 5, 2021

6 August 2021

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EAST POGO RC DRILLING UPDATE - 64NORTH PROJECT

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• Shallow RC drilling completed at East Pogo – 64North Project in Alaska

• Gold pathfinder elements intersected by drillhole 21EP008 indicates the potential of gold at depth, with a 2000m x 1600m target zone identified for follow up drilling

• The East Pogo Prospect is located on the “Pogo Trend” at Resolution’s flagship 64North Project - Alaska, adjacent to the operating world-class high-grade Pogo Gold Mine

• An exploration activity update on the entire 64North Project will be released shortly

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Figure 1 Location Map of drill collars of recently completed RC drilling program East Pogo Prospect, 64North Project - Alaska

See Figure 5 IRGS ( I ntrusion R elated G old S ystem) geological model and strip logs Figures 6 and 7 for examples of pathfinder element assemblage

CAPITAL STRUCTURE

BOARD

Ordinary Shares Issued 448 M

Options and rights Listed options 6 M @ 10c Listed options 75 M @ 12c Unlisted options 6 M @ 25c Unlisted options 13 M @ 8c Unlisted options 59 M @ 4.2c Unlisted rights 11 M

Performance Shares Class A 9.6 M Class B 3.6 M

Last Capital Raise February 2021 – Placement $3.2M @ 2.8c

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

Level 4, 29 King William Street Adelaide SA 5000

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ASX RELEASE

Managing Director, Duncan Chessell comments

The beauty of the RC drilling program was the low cost at which we were able to complete 12 holes, testing multiple hydrothermal fluid pathways defined by geophysics over a very large area. We identified dilation zones critical for gold mineralisation to form and multiple quartz veins bearing minor sulphides were intersected. While we did not receive near-surface gold results, the valuable dat ~~a c~~ ollected means we can now focus our efforts on a deeper target zone of 2000m x 1600m.

In particular, hole 21EP008 encountered strong proximal Au-Bi-W-(Te) geochemical signature increasing towards the base of hole, indicating we were likely getting close to a gold mineralised system. However, the hole had to be abandoned prior to reaching target depth due to ground conditions and for this reason we are contemplating returning with a core drilling rig to effectively test this target for potential high-grade Pogo-style mineralisation.

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Figure 2 The 64North Project and neighbours’ tenement location map, July 2021; RML claims in blue.

Summary

Resolution Minerals Ltd ( RML or Company ) is pleased to announce drilling assays results on the recently completed RC drilling program on the East Pogo Gold Prospect at the 64North Project in Alaska. East Pogo is on the Pogo Trend positioned between the 11M oz Pogo Gold Mine and the Tibbs Discovery . The compelling shallow drill targets are the culmination of 20 months’ preparation including field work, desktop review, CSAMT and ZTEM geophysics surveys and logistics planning. Historic drilling at the East Pogo prospect had returned significant intercepts including 0.5m at 24.3g/t gold and 0.1m at 35g/t gold (Figure 1). The recent drilling utilised shallow, low cost, RC drilling as a first pass test of the targets to define follow up deeper drilling targets.

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ASX RELEASE

12 RC drill holes totalling 1,663m were designed to test gold targets of between 50m to 190m depth, were completed. The drillholes encouragingly intersected intensely altered basement gneisses (target rock unit) cross-cut by up to 4.6m thick intersections of abundant quartz-sulphide veining. The quartz veins intersected did not contain significant gold assay values but the increasingly strong pathfinder geochemistry towards the end-of-hole (Hole ID: 21EP008) has provided compelling vectors for highly prospective gold zones beneath our drillholes. With diamond drilling to test these deeper zones under consideration.

Pathfinder elements and targeting

Important information can be obtained from pathfinder elements analysis which can determine proximity to a gold mineralised system. Typically, a Pogo-Style gold system has particular elements such as Au-Bi-Te-S (+/- As) present when close to a mineralised zone (see below section “About the Pogo Gold Mine and Pogo style mineral systems”). By analysing this data, we have identified an area of 2000m x 1600m most likely to host gold mineralisation (Figure 1). Within this zone, the final sample on RC drill hole 21EP008 intersected sericite and biotite alteration including minor quartz veining and a strong proximal geochemical pathfinder spike despite not reaching target depth. The hole had a trend of increasing Au and alteration intensity over the last 50m with sericite alteration present in the last few meters. This signifies the high potential of gold mineralisation further down.

Hole 21EP008 could be followed up with diamond drilling via an adjacent valley as an effective test of the potential Au system. This will result in significantly less metres than a ridgeline drill hole such as Hole ID: 21EP008. The Company is assessing logistical and technical considerations for further drilling programs, noting that drilling approvals are in place within the 2000m x 1600m zone of interest identified by the RC drilling program and results. A diamond core drilling rig is likely to become available in a few weeks from an adjacent project and may provide the Company with an opportunity to drill test further targets in the near term.

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ASX RELEASE

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Figure 3 Cross Section CSAMT Line 2 as defined on Figure 1 - Location Map of drill collars of recently completed RC drilling program, ABOVE (see Figure 6 for striplog of Hole 21EP008).

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27 July 2021

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Figure 4 Tintina Gold Province Map*: Deposit sizes stated as Endowment (Resources & Reserves + Historic Production)

Resolution Minerals Ltd is a precious and base metals mineral explorer with its gold focussed flagship 64North Project in Alaska; and holds the Wollogorang and Benmara Cu-Co-U Projects in Australia which includes the Stanton Cobalt Deposit and Snettisham Ti-V-Fe (Magnetite) Project in southern Alaska.

For further information please contact the authorising officer:

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

E: info@resolutionminerals.com

Follow RML on LinkedIn or Twitter or visit our website www.resolutionminerals.com Join RML’s Newsletter Link

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ASX RELEASE

Geological Model – Intrusion Related Gold System (IRGS)

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Interpreted model for
Historic Hole ID: BND00-04
0.5m @ 24.3g/t Au from 147m
0.1m @ 35g/t Au from 224m
possible vertical feeder veins
(a.k.a. Boundary target)
Target mineralisation
model at East Pogo for the
June 2021 RC drilling
program
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Figure 5 IRGS Model developed for the Tintina Gold Province by Robert et al (2007) from Lang et al (2000)

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Geological context - East Pogo

During 2020 Resolution conducted CSAMT and ZTEM geophysical surveys over the East Pogo Prospect, including the historic Boundary Prosect, which reported historic narrow high-grade gold mineralisation along high angle structures, in diamond core drilling. (Results reported in RML ASX Releases 13/7/2020 and 5/11/2020). See diagrams below of CSAMT and ZTEM surveys completed in 2020. Using knowledge gained from deploying these geophysics systems at West Pogo, subsequent drilling programs; and flying a ZTEM survey over known gold mineralisation at Northern Star’s Goodpaster Discovery RML delineated a set of compelling shallow drill targets at East Pogo.

The Resolution geology team interpreted the low angle shear to be analogous to the regional shear which hosts the Pogo Gold Mine mineralised Liese Vein lodes and is present at a shallow depth at East Pogo. Resolution also interprets that mineralisation (like at Pogo) doesn’t appear to outcrop (“daylight”) as it is shallow dipping i.e. almost flat. Drilling targets of 50-200m depth were designed to test this model. The right host rocks are present in the area and the presence of high-grade narrow gold mineralisation up to 35g/t Au along high angle structures in historic drill holes infers East Pogo is a highly prospective location.

Further evidence for the prospectivity is the location on the Pogo Gold Trend with known gold mineralisation to the east (Tectonic Metals Tibbs high-grade gold discovery - TSXV:TECT) and west (Northern Star’s Pogo Gold Mine – ASX:NST) of the drill targets.

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Diagrams: Left hand side Diagram Yellow polygons indicating prospective southern and central zones, image of East Pogo ZTEM (2020) conductivity shell overlain with black lines indicating CSAMT survey conducted over Northern/Boundary Prospect and Central Zone of the greater East Pogo Prospect.

Right hand side Diagram of CSAMT survey (2020) conducted over the Boundary Prospect or Northern Zone and Central Zone of the greater East Pogo Prospect, (RML ASX Announcement 5/11/2020) annotated with approximate location of 2021 RC drill holes and 2000m x 1600m target zone.

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ASX RELEASE
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About the Pogo Gold Mine and Pogo style mineral systems

NST’s operating world-class high-grade Pogo Gold Mine has an endowment of 11M oz of gold and started production in 2006, producing approximately 300,000oz/year at over 13g/t Au through much of this time. This demonstrates the highly prospective nature of the district overall. The Pogo style gold system present is typically shallow dipping (almost flat lying) quartz hosted gold mineralisation of 4m to 20m thick arranged in “stacked sheets” of very highgrade gold mineralisation and is mined underground (See 3D representation from the Northern Star website below). This style of mineralisation is potentially found at shallow depths of 50-200m deep on the East Pogo Prospect and was the target of deeper (300-800m+) diamond core drilling in 2020 at the Aurora Prospect, West Pogo.

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Target of East Pogo
drilling program, gently Pogo Style – Mine Mineralisation Model
dipping dilation zones
Low Angle Veins (Liese 1-3, East Deep)
• These veins contain the bulk of the ore at Pogo
• 5-20 m thick
• Hosted in regional shear zone – compression with later Hosted in regional shear zone – compression with later
extension for more dilation
• Shear exploits mafic and graphitic rocks within gneiss Shear exploits mafic and graphitic rocks within gneiss
High Angle Veins (North Zone, X-Vein)
• Previously not important sources of ore
• 1-5 m thick N-S/NE-SW oriented escape structures for 1-5 m thick N-S/NE-SW oriented escape structures for
plutonic fluids, which are thought to be feeder structures
Other characteristics of Pogo
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Pogo Style – Mine Mineralisation Model*

*Sumitomo/ Larimer (2019)

• Hosted in regional shear zone – compression with later Hosted in regional shear zone – compression with later extension for more dilation

• Shear exploits mafic and graphitic rocks within gneiss Shear exploits mafic and graphitic rocks within gneiss

• 1-5 m thick N-S/NE-SW oriented escape structures for 1-5 m thick N-S/NE-SW oriented escape structures for plutonic fluids, which are thought to be feeder structures

Other characteristics of Pogo

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Elevated gold/arsenic/bismuth anomaly
Gold-bearing quartz veins
Serpentinite, amphibolite
Graphitic schist
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• Free milling gold

• Low sulfide quartz veins

• ~ 3% pyrite, arsenopyrite, pyrrhotite, Bi-Te-S

• Dolomite-sericite alteration halo

• Magmatic fluid source

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ASX RELEASE

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Pathfinder elements Au-Bi-W-Te
Indicates positive proximal position
to potential gold mineralisation
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Figure 6 Striplog Drill Hole ID: 21EP008 demonstrating positive proximal pathfinder elements present

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ASX RELEASE

	Pathfinder	elements Ag-Pb-Zn-Sb
	Indicates	distal (further away)
	position to	gold mineralisation

Figure 7 Striplog Drill Hole ID: 21EP009 demonstrating more distal (further away) pathfinder elements present

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ASX RELEASE

Appendix 1. Summary table of drill hole details.

Hole ID	Easting	Northing	Elevation (m)	Azimuth	Dip	EOH Depth (m)	Au ppm
21EP001	623146	7145885	1166	200	-80	132.6	NSI
21EP002	623210	7146161	1135	200	-80	179.8	NSI
21EP003	622816	7146278	1020	200	-80	82.3	NSI
21EP004	622719	7146130	1036	200	-80	53.3	NSI
21EP005	623959	7145904	1141	210	-80	190.5	NSI
21EP006	623628	7145731	1173	200	-80	125.0	NSI
21EP007	624839	7145133	1197	210	-70	144.8	NSI
21EP008	625152	7146559	967	200	-80	146.3	NSI
21EP009	626698	7146955	984	180	-60	160.0	NSI
21EP010	624485	7147788	1131	0	-60	132.6	NSI
21EP011	623874	7144276	1382	200	-80	193.6	NSI
21EP012	623573	7142046	1200	180	-80	121.9	NSI

Table 1a: RML drill collar location and significant intervals for the 64North Project, Alaska.

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 NAD83, Zone 6

3. Drilling is conducted with 5 feet = 1.524m 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 3 & 3/4" diameter RC chip drilling, all of hole is sampled

8. Significant results are shown for intercepts >0.5g/t Au with no more than 3.048m (10 feet) of internal dilution

9. NSI = No Significant Interval

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ASX RELEASE

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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 “Investor Presentation - Noosa Mining Virtual Conference” 13 July 2020, “Boundary Prospect Results at Pogo Trend - 64North Project” 24 September 2020, “AMA Technical Presentation 2020” 5 November 2020 and “New Claims Added East Pogo – 64North Project, Alaska” 14 December 2020. The Company is not aware of any new information or data that materially affects the information included in this announcement.

Elements

Au = Gold, Bi = Bismuth, As = Arsenic, Sb = Antinomy, Te = Tellurium, Pb = Lead, Ag = Silver, Zn = Zinc, W = Tungsten.

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

About the 64North Project, Alaska

The 64North Project is adjacent to Northern Star’s (ASX:NST) Pogo Gold Mine, 120km from Fairbanks, Alaska in the Tintina Gold Province. NST’s operating world class high grade Pogo Gold Mine has an endowment of 11Moz of gold and started production in 2006, producing approximately 4M oz Au @ 300,000oz/year at over 13g/t Au from 2006 to 2018. RML holds a 30% interest in the project and is earning into to a 60% interest in stages (30%, 42%, 51% and 60%). RML has a conditional pathway to 80% interest in a single “Best Block” at its election. RML can form a JV at any stage and holds a first right over the Vendors interest. The Project is owned by Millrock Resources (Vendor) (TSXV:MRO) the details of which were updated and announced 28 January 2021 by the Company.

Resolution controls a dominant 672km[2] land package surrounding the world-class Pogo Gold Mine via this agreement.

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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 64North Project – Alaska.

Section 1 Sampling Techniques and Data

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

Criteria	JORC Code explanation	Commentary	Commentary
Sampling	• Nature and quality of sampling (e.g. cut	•	Sampling was undertaken using
techniques	channels, random chips, or specific specialised industry standard measurement		standard industry practices and a 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 1.524m (5 feet) intervals (1 rod
	limiting the broad meaning of sampling.		length).
	• Include reference to measures taken to	•	Individual samples weigh less than
	ensure sample representivity and the		3kg to ensure total preparation at
	appropriate calibration of any measurement		the laboratory pulverisation stage
	tools or systems used.		to produce 30gram charge for fire
	• Aspects of the determination of mineralisation		assay and 0.25gram for multi-acid
	that are Material to the Public Report.		ICP-MS analysis. The sample size
	• In cases where ‘industry standard’ work has		is deemed appropriate for the
	been done this would be relatively simple		grain size of the material being
	(e.g. ‘reverse circulation drilling was used to		sampled.
	obtain 1 m samples from which 3 kg was	•	QAQC samples (standards, blanks
	pulverised to produce a 30 g charge for fire		and duplicates) are inserted into
	assay’). In other cases, more explanation may		the sequences as per industry best
	be required, such as where there is coarse Au		practice the details of which are
	that has inherent sampling problems. Unusual		set out below in sub-sampling
	commodities or mineralisation types (e.g.		techniques section.
	submarine nodules) may warrant disclosure
	of detailed information.
Drilling	• Drill type (e.g. core, reverse circulation, open-	•	Reverse Circulation with a 3 3/4"
techniques	hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter,		hole diameter and a Sandvik face sampling “button” bit.
	triple or standard tube, depth of diamond tails,	•	Downhole surveys were completed
	face-sampling bit or other type, whether core		using a SlimGyro
	_is oriented and if so, by what method, etc.). _
Drill sample	• Method of recording and assessing core and	•	Chips were logged and sampled
recovery	chip sample recoveries and results assessed. • Measures taken to maximise sample recovery and ensure representative nature of the samples. • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential		on site at the 64North, East Pogo Prospect for the full duration of the program by qualified geologists using the drillers recorded depth against the number of 1.524m (5 feet) samples recovered. No
	loss/gain of fine/coarse material.		significant sample loss was
			observed.
		•	Drillers monitored the shroud size
			to ensure quality recovery
		•	Norelationship betweensample

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ASX RELEASE

Criteria	JORC Code explanation	Commentary	Commentary
			recoveryandgrade is identified.
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 Vice President
	• The total length and percentage of the		Exploration, who is familiar with
	relevant intersections logged.		the 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.
Sub-	• If core, whether cut or sawn and whether	•	Drill chips intervals were speared
sampling techniques and sample preparation	quarter, half or all core taken. • If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry. • For all sample types, the nature, quality and appropriateness of the sample preparation	•	on site (dry), then submitted for analysis at the BV laboratory in Fairbanks. 100% of the samples were submitted for assay.
	technique.	•	A 20% sample split and is
	• Quality control procedures adopted for all		considered representative and
	sub-sampling stages to maximise		appropriate for exploration stage.
	representivity of samples. • Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.		Appropriate high, medium and low gold and base metal standards (CRM’s) are used on a 1:50 basis (2%). Blanks are inserted on a
	• Whether sample sizes are appropriate to the		1:50 basis (2%). Duplicate
	grain size of the material being sampled.		samples were taken on a 1:50
			basis (2%). Laboratories introduce
			QAQC samples and complete
			duplicate check assays on a
			routine basis.
		•	Sample preparation is considered
			appropriate and was undertaken
			by BV Fairbanks (PRP70-250)
			using 70% to <2mm Crush and
			Pulverize 85% to <75 um.
			Samples were split and were
			subsequently analysed at BV
			laboratoryin Vancouver, Canada

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Criteria		JORC Code explanation	Commentary	Commentary
				(multielement) and Hermosillo,
				Mexico (gold). Gold was analysed
				by Fire Assay (FA430/AA) with an
				AAS finish using a 30gram
				nominal sample weight. 45
				elements were analysed by multi-
				acid (MA200) with an ICP-ES/MS
				finish using a 0.25gram sample
				weight. Multi-element analysis was
				completed on selective samples
				only.
			•	Sample size as defined above is
				considered appropriate to the
				material sampled.
Quality	of	• The nature, quality and appropriateness of	•	The sampling digest methods are
assay and	data	the assaying and laboratory procedures used and whether the technique is considered partial or total.		considered appropriate and industry standard. FA430/AA with AAS finish was applied to all
laboratory tests		• For geophysical tools, spectrometres, handheld XRF instruments, etc., the parametres used in determining the analysis		samples. MA200 with ICP-ES/MS finish was applied to selective 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 Materials
		laboratory checks) and whether acceptable		(CRM) on a 1:50 basis (2%), Blank
		levels of accuracy (i.e. lack of bias) and		material on a 1:50 basis (2%) and
		precision have been established.		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
				checkassays onaroutine basis.
Verification		• The verification of significant intersections by	•	At least two geologists have
of sampling and		either independent or alternative company personnel. • The use of twinned holes.		reviewed the physical chips in addition to offsite RML geologists reviewing the logging and
assaying		• Documentation of primary data, data entry procedures, data verification, data storage	•	photographs. No twinned holes.
		(physical and electronic) protocols.	•	Drilling information is digitally
		• Discuss any adjustment to assay data.		entered and stored following
				documented chip handling
				procedures and backed up
				electronically.
			•	No adjustment has been made to
				theprimaryassaydata.

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Criteria		JORC Code explanation	Commentary	Commentary
Location	of	• Accuracy and quality of surveys used to	•	All maps and locations are in UTM
data points		locate drill holes (collar and down-hole surveys), trenches, mine workings and other		grid (NAD83 Z6N) and have been measured by handheld GPS with a
		locations used in Mineral Resource		lateral accuracy of ±4 metres and
		estimation.		a vertical accuracy of ±10 metres.
		• Specification of the grid system used.		Collar RLs have been adjusted to
		• Quality and adequacy of topographic control.		the Shuttle Radar Topography
				Mission (SRTM) digital elevation
				model (DEM) of the Earth to obtain
				sub 5metreverticalaccuracy.
Data		• Data spacing for reporting of Exploration	•	Data spacing is insufficient to
spacing and distribution		Results. • Whether the data spacing, and distribution is sufficient to establish the degree of geological		establish the degree of geological and grade continuity required for a 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 relation	in to	unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.		drilling orientation and the orientation of key mineralised structures has not been confirmed.
geological 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 a secure room
				at BV laboratoryin Fairbanks.
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	Criteria	JORC Code explanation	Commentary
Mineral		• Type, reference name/number, location and	•Resolution Minerals Ltd executed
tenement and land		ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties,	an Option, Earn-in and Joint Venture (JV) agreement on 17 October 2019 as Northern Cobalt
tenure		native title interests, historical sites,	Ltd (ASX:N27) (former company
status		wilderness or national park and environmental settings.	name of Resolution Minerals Ltd) with Millrock Resources Inc.
		• The security of the tenure held at the time of	Millrock is an Alaskan basedproject

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Criteria		JORC Code explanation	Commentary	Commentary
		reporting along with any known impediments		generator company listed on the
		to obtaining a licence to operate in the area.		TSX-V as MRO. (ASX:RML
				Announcement 17/12/2019). On the
				9thof February 2021 Resolution
				Minerals Ltd executed a revision of
				the Millrock Agreement with
				reduced spend including updated
				terms of the Option, Earn-in and
				Joint Venture agreement to earn up
				to 60% on the entire project and an
				80% interest on a single “best
				block” (ASX:RML Announcement
				9/2/2021).
			•	The total tenement area comprising
				the 64North Project consists of
				1195 State of Alaska claims
				(67,280 hectares or 672km2).
			•	The 64North Project is located
				approximately 120km east of
				Fairbanks.
			•	The tenure is in good standing and
				no known impediments exist.
Exploration done by		• Acknowledgment and appraisal of exploration by other parties.	• •	Previous exploration work includes; Surface Geochemical Sampling:
other parties				Pan concentrates, fine silts, silts,
				soils & rock chips. Airborne
				Geophysics: EM, LiDAR,
				Radiometric & Magnetics.
				Ground Geophysics: Magnetics,
				Radio-metrics, EM, VLF-EM,
				NSAMT & CSAMT.
				Exploration Drilling: 46 Diamond
				holes completed.
Geology		• Deposit type, geological setting and style of	•	Resolution Minerals Ltd is primarily
		mineralisation.		exploring for Intrusion Related Gold
				mineralisation (e.g. Pogo-style and
				Fort Knox-style) within the Yukon-
				Tanana Terrane of the northern
				Cordillera,Alaska.
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

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Criteria	Criteria	JORC Code explanation	Commentary	Commentary
		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	•	Sample length weighted averaging
aggregation methods		averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually		was used to calculate the aggregated intervals of significant mineralisation. A cut off of 0.5 g/t
		Material and should be stated.		Au has been applied for significant
		• Where aggregate intercepts incorporate short		intersections with a maximum
		lengths of high-grade results and longer		dilution of 3.048m (10 feet).
		lengths of low-grade results, the procedure	•	No top cut has been applied.
		used for such aggregation should be stated	•	No metal equivalents have been
		and some typical examples of such		used.
		aggregations should be shown in detail.
		• The assumptions used for any reporting of
		metal equivalent values should be clearly
		stated.
Relationship		• These relationships are particularly important	•	Down hole length has been
between mineralisati		in the reporting of Exploration Results. • If the geometry of the mineralisation with respect to the drill hole angle is known, its		reported, as true width is not known, as insufficient work has been undertaken to understand the
on	widths	nature should be reported.		true width of intervals.
and		• If it is not known and only the down hole lengths are reported, there should be a clear	•	“Down hole length, true width not known” is stated in the notes to
intercept		statement to this effect (e.g. ‘down hole		Table 1a.
lengths		length, true width not known’).
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, trench, soil samples has
		avoid misleading reporting of Exploration		occurred in historical reports and
		Results.		reportedwhenappropriatehere.
Other		• Other exploration data, if meaningful and	•	Resolution Minerals completed a
substantive exploration		material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical		ZTEM survey. See ASX:RML announcement released on the 5/11/2020 for details.
data		survey results; bulk samples – size and	•	Resolution Minerals completed a
		method of treatment; metallurgical test		CSAMT survey. See ASX:RML
		results; bulk density, groundwater,		announcement released on the
		geotechnical and rock characteristics;		24/09/2020 for details.
		potential deleterious or contaminating
		substances.
Further		• The nature and scale of planned further work	•	A range of exploration techniques
work		(e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling).		are being considered to progress exploration at the East Pogo

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Criteria	JORC Code explanation	Commentary
	• Diagrams clearly highlighting the areas of	Prospect including diamond drilling.
	possible extensions, including the main
	geological interpretations and future drilling
	areas, provided this information is not
	commercially sensitive.

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