RESOLUTION MINERALS LTD — Capital/Financing Update 2021

Jun 9, 2021

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10 June 2021
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Drilling Commenced – East Pogo Prospect 64North Project, Alaska

Resolution Minerals Ltd ( RML or Company ) is pleased to announce that it has commenced drilling on the East Pogo Gold Prospect at the 64North Project. The compelling shallow drill targets are the culmination of 20 months’ field work, desktop review, CSAMT, ZTEM and magnetic geophysics surveys and logistics planning. East Pogo is on the Pogo Trend positioned between the 11M oz Pogo Gold Mine and the Tibbs Discovery.

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East Pogo Prospect - drilling the first hole June 2021
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Summary:

• Drilling has commenced on a 2,000 metre shallow RC drilling program at the East Pogo Prospect to test compelling high-grade Pogo-style gold targets near-surface (50-150m).

• East Pogo drill targets are on the Pogo Trend between the 11M oz Pogo Gold Mine and Tectonic Metals’ Tibbs high-grade gold discovery.

• The 64North Project is located in the Tintina Gold Province and completely surrounds Northern Star’s Pogo Gold Mine of 11M oz Au endowment.

• Follow up appraisal of the Sunrise Prospect drilling results and surrounding West Pogo prospects has commenced . Further drilling, trenching and geophysics are under consideration, pending field assessment findings.

• East Pogo drilling will take ~3 weeks to complete, assay results expected ~ end of July.

CAPITAL STRUCTURE 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

BOARD Craig Farrow- Chair Duncan Chessell - MD Andrew Shearer - NED Jarek Kopias - Co Sec Level 4, 29 King William Street Adelaide SA 5000

ASX RELEASE

Duncan Chessell – Managing Director Resolution Minerals commented:

We have been working systematically on our flagship 64North Project for almost 2 years and built a strong understanding of the local geology. Our geology team has deployed cutting-edge geophysics, reviewed all historic works and conducted multiple drilling campaigns to better refine our targeting methodology. The East-Pogo Prospect has emerged as the best prospect to deliver high-grade gold or Pogo-style results, near surface. Now with the summer field season upon us, rigs turning on compelling targets and the gold price rising we are very excited to see the results of this program.

Concurrently, we are in the field right now, evaluating the best way forward for the Sunrise Prospect and nearby prospective granitic bodies for potential further Fort Knox style mineralisation. Sunrise is an intrusion hosted gold prospect with a 280m wide gold mineralised corridor identified by Resolution in drilling earlier this year. Sunrise is analogous in style to Kinross’ Fort Knox Gold Mine 120km to our west, which is one of Alaska’s most profitable gold mines.

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Figure 1 The 64North Project Claims in blue surrounding Northern Star’s Pogo Gold Mine in orange/tan.

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ASX RELEASE

Geological context - East Pogo

During 2020 Resolution conducted CSAMT, ZTEM and Magnetic geophysical surveys over the East Pogo prospect which included the historic Boundary Prosect which reported historic narrow high-grade gold mineralisation in diamond core drilling. (Results reported in RML ASX releases 13/7/2020 and 5/11/2020). See CSAMT and ZTEM diagrams below. 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 has delineated a set of compelling shallow drill targets at East Pogo.

The Resolution geology team has 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 has also interpreted 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 have been 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 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.

The East Pogo targets can be cost effectively drilled using a small helicopter portable RC rig with a planned ~ 2,000m program currently underway.

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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 of the greater East Pogo Prospect. (RML ASX Announcement 5/11/2020).

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ASX RELEASE

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 (600m+) diamond core drilling in 2020 at the Aurora Prospect, West Pogo.

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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 up 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) see RML ASX Announcement 9 February 2021 for full details.

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ASX RELEASE

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Figure 2 Tintina Province *Deposit sizes stated as Endowment (Resources & Reserves + Historic Production)

Resolution Minerals Ltd is a precious and battery 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.

Resolution confirms that the Company is not aware of any new information or data that materially affects the exploration results cross referenced in this announcement.

For further information please contact the authorising officer:

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

E: duncan@resolutionminerals.com

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or visit our website www.resolutionminerals.com Join RML’s Newsletter Link

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

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