RESOLUTION MINERALS LTD — Capital/Financing Update 2021

May 16, 2021

17 May 2021

SUNRISE PROSPECT ASSAY RESULTS CONFIRM FORT KNOX STYLE MINERALISATION

• Assays results - Sunrise Prospect shallow RAB drilling received – significantly thick intervals include: o Hole: 21SU007

  • 36.6m @ 0.33 g/t Au from surface,

• including 1.5m @ 1.42 g/t Au from 1.5m; and 1.5m @ 2.60 g/t Au from 9.1m.

• o Hole: 21SU009

  • 74.7m @ 0.26 g/t Au (entire hole) from surface,

  • including 1.5m @ 1.77 g/t Au from 12.2m; and 1.5m @ 1.02 g/t Au from 48.8m.

• Results confirm the presence of thick intervals of Fort Knox style mineralisation in a 280m wide gold mineralised corridor open at depth and to the north and south. The host granite intrusion is interpreted to extend more than 1km to the south of the recently completed RAB drilling.

• Fort Knox is one of Alaska’s most profitable operating gold mines producing 237k oz Au in 2020 from a Resource and Reserve of grade 0.3 g/t Au (www.kinross.com annual report).

• Other potential Fort Knox style intrusive targets have now been recognised near the Pogo Mine road , proximal to the Sunrise Prospect. Ground appraisal of the Sunrise Prospect and surrounding prospects will commence in late May . Further drilling, trenching and geophysics are under consideration.

• The road accessible Sunrise Prospect is located at Resolution’s flagship 64North Project Alaska, 4km from the operating world-class Pogo Gold Mine.

• 2,000m RC helicopter supported drilling program on the East Pogo Prospect will commence early June, -

• testing compelling high grade Pogo style gold targets identified in 2020 field programs.

• Australian exploration ongoing targeting copper and base metals in the NT (drilling mid-year).

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Resolution Minerals Ltd (ASX: RML) ( Resolution or the Company ) is pleased to announce significantly thick gold mineralisation results from the recent Sunrise Prospect RAB drill holes at the Company’s 64North Project in Alaska under an earn-in arrangement with project partner Millrock Resources (TSXV: MRO).

Assay results have been received for all 27 holes from the Sunrise RAB drill program testing a 1400m east-west fence line of holes across the Sunrise Prospect to assess the scale and grade. The drilling identified a zone of thick gold mineralisation approximately 280m wide, open at depth and open to the north & south. Follow up “boots on ground” geology to commence shortly to identify potential further drilling targets and/or geophysics program(s).

Watch video update from Managing Director – Duncan Chessell

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

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

Performance Shares 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 Level 4, 29 King William Street $3.2M @ 2.8c Adelaide SA 5000

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17 May 2021
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3D representation of the Sunrise Prospect highlighting the location of the recently completed 1400m “fence line” RAB drill program and the scale of the 1500m x 1200m target granite intrusion. 64North Project, Alaska.

Resolution’s Managing Director – Duncan Chessell commented:

Resolution’s Sunrise Prospect drilling results confirming the Fort Knox style of mineralisation has cast a new light on the 64North Project. It has highlighted the potential for the district to host multiple deposits of not only high grade Pogo-style, but the more classic Alaskan giant-size low-grade intrusion hosted Fort Knox style.

The current drill program only tested of the northern edge of the granite intrusion and we are now considering the best way to approach follow up drilling and/or trenching and geophysics across this large target area, as well as prioritising the sampling of multiple interpreted Fort Knox systems nearby that are very encouraging in light of these results. Fortunately, the Pogo Mine Road allows year-round access to these targets.

While we are planning the next move at the Sunrise prospect, our team in the field will make use the Alaskan summer to drill test the highest ranked prospect at the 64North Project – the East Pogo high-grade gold targets – in June.

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Significant New Intersections Sunrise Prospect RAB drilling program April 2021

Hole: 21SU009

• 74.7m @ 0.26 g/t Au (entire hole) from surface,

• including 1.5m @ 1.77 g/t Au from 12.2m; and 1.5m @ 1.02 g/t Au from 48.8m.

Hole: 21SU022

• 47.2m @ 0.28 g/t Au from 1.5m, including 1.5m @ 1.93 g/t Au from 10.7m.

Hole: 21SU006

• 16.8m @ 0.17 g/t Au from 1.5m; and

• 44.2m @ 0.24 g/t Au from 24.4m

Hole: 21SU007

• 36.6m @ 0.33 g/t Au from surface,

• including 1.5m @ 1.42 g/t Au from 1.5m; and 1.5m @ 2.60 g/t Au from 9.1m.

Hole: 21SU014

• 19.1m @ 0.22 g/t Au from surface; and

• 4.6m @ 0.34 g/t Au from 27.4m; and

• 27.4m @ 0.36 g/t Au from 41.1m,

• Including 1.5m @ 1.31 g/t Au from 57.9m; and 1.5m @ 1.01 g/t Au from 62.5m

Hole: 21SU011

• 21.3m @ 0.13 g/t Au from surface; and

• 6.0m @ 0.16 g/t Au from 25.9m.

Significant Previous Intersections Sunrise Prospect (2002) Hole: AGGP-1

• 32m @ 0.28 g/t Au from 9m; including 0.5m @ 5.26 g/t Au from 33m.

(ASX: RML announcement 18 Jan 2021)

Assay results

In April 2021 Resolution drilled 27 shallow (30m-75m deep) RAB holes along a 1400m long “fence-line” across the main surface geochemical anomaly to follow up the positive trenching results obtained in late 2020 at the Sunrise Prospect. See Page 3 and Page 4 representative section view and plan view diagrams of the Sunrise Prospect. A full list of significant assays is presented in Appendix 1a. Granite, the target rock type, was intersected in all holes and is illustrated on Page 3 in the section view diagram.

280m wide mineralised corridor

The assay results show eight (8) intersections >10m thickness of Fort Knox style mineralisation across a 280m wide corridor, open at depth and open to the north and south.

A total of 9 holes were drilled for 483m into this 280m corridor with 353m (73%) of assays reporting above cut-off grade of 0.1g/t Au. The same 0.1 g/t Au cut-off grade is used for the Fort Knox gold mine.

There is also a strong association of bismuth (Bi) with gold (Au) and the presence of Arsenic (As) is further corroboration that the gold is a Fort Knox style system. As RAB drilling was undertaken for this program, no drill core was produced so no structural information on vein thicknesses or orientation is available.

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Next Steps

Sunrise

Resolution is planning to comprehensively review these results and conduct site visit(s) as the basis for planning future exploration activity including consideration of geophysics surveys, further trenching and/or follow up RC or Diamond Core Drilling at the Sunrise Prospect.

The new exploration space identified with these assay results in the immediate vicinity of the recently drilled Sunrise Prospect for potential further examples of Fort Knox mineralisation proximal to the Sunrise Prospect is highly encouraging . The Sunrise drilling results warrant a “boots on ground” response to undertake rock chipping and mapping and review of a number of historic prospects close to the Pogo Mine Road. Utilising modern geochemical analysis of the rock chips in the area will help identify other potential examples of Fort Knox style mineralisation on the 64North Project.

East Pogo RC Drilling

Drilling at the Company’s highest priority target at the East Pogo Prospect will commence in early June, following up significant geophysical targets identified in 2020. The extensive CSAMT, ZTEM and Magnetics geophysical surveys were run over both East and West Pogo blocks in addition to overflying Northern Star’s (ASX:NST) Goodpaster Discovery for comparison to East Pogo. See Figure 1 for location of East Pogo, Sunrise Prospect and the Pogo Gold Mine. A 2,000m helicopter supported drilling program has been planned and will continue throughout June 2021.

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The Sunrise Prospect – Geology background

The Sunrise mineralisation falls within a broad 1100m x 400m, >25ppb Au historic soil anomaly adjacent to drill hole AGGP-1: 32m @ 0.28g/t Au from 9m including 0.5m @ 5.26g/t Au from 33m.

Gold mineralisation is interpreted to be derived from a large-scale granite that extends more than 1km southwards. It is poorly exposed, partially covered by surface geochemistry and largely untested by drilling until Resolution’s 1400m long fence line of RAB drill holes at the Sunrise Prospect. The cretaceous age granites present at the 64North Project are the typical “engine room” of the Tintina Gold Province mineral wealth. These granites providing a source of gold and the heat source to drive the gold mineralising fluids throughout the Tintina forming deposits such as Pogo (11M oz), Fort Knox (13M oz) and Livengood (12M oz), see Figure 2 – mineral deposit endowments in the Tintina Gold Province. The Tintina stretches 2,000km across from the Yukon (Canada) to the Alaskan coast hosting over 100M oz of gold (Au) see Figure 2 . The Project claims (tenements) completely surround the world-class high-grade Pogo Gold Mine (See Figure 1 ) with total endowment of 11M oz Au. (IRGS = Intrusion Related Gold System).

During the last quarter of 2020 the exploration team observed at the Sunrise Prospect, outcropping granites with quartz veins along RML’s access track to the Aurora Prospect. Following up the observation RML completed a 137m long trench on the road cutting to test for gold mineralisation of intrusion hosted style gold e.g. Fort Knox style gold mineralisation. Positive assay results were encountered as the entire 137m of road-cutting trenching samples returned elevated gold, demonstrating a shallow intrusion hosted Fort Knox style gold system.

Highlights of RML’s 2020 surface trench sampling:

• 93m @ 0.29g/t Au - including 27m @ 0.53g/t Au; max 1m interval of @ 1.89g/t Au; and

• 38m @ 0.14g/t Au.

Geological model and analogous deposits

Fort Knox Mine – Fairbanks 120km to the west.

In the case of the Fort Knox Mine the approximate surface expression of the 13M oz Au endowed Fort Knox Mine is ~1100m x ~900m and is mined by open cut method with considerable gold being recovered by inclined heap leach method at very low-grades (0.2g/t Au) and corresponding low production costs.

When considering what a successful drill test might look like at the Sunrise Prospect investors should consider the analogous profitable low-grade Fort Knox mine information available on the Kinross full year report 2020 which states the Fort Knox Mine Fairbanks Alaska (available on Kinross website www.kinross.com):

• 237,925 oz Au Produced 2020

• US$1,054/oz Au Production cost

• 0.1g/t Au cut-off grade

• 0.2g/t Au grade of heap leach resources

• 2.4m oz @ 0.3g/t Au Reserves

• 2.6m oz @ 0.3g/t Au M&I Resources

• Produced 8M oz Au during a >20 year mine life.

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Figure 1 Resolutions claims (Tenements) in Blue surrounding the Pogo Gold Mine (in tan) owned by Northern Star (ASX:NST) with significant regional prospects shown

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 it’s 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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Figure 2 Tintina Province *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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*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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Appendix 1. Summary table of drill hole details.

Table 1a: Summary of RML drill intervals from March-April 2021 drilling at the 64North Project, Alaska.

Hole ID	Prospect	From (m)	To (m)	Interval	Au (g/t)
21SU001	Sunrise	-	-	NSI	n/a
21SU002	Sunrise	-	-	NSI	n/a
21SU003	Sunrise	-	-	NSI	n/a
21SU004	Sunrise	-	-	NSI	n/a
21SU005	Sunrise	16.76	22.86	6.10	0.13
21SU005	Sunrise	28.96	30.48	1.52	0.12
21SU006	Sunrise	1.52	18.29	16.76	0.17
21SU006	Sunrise	24.38	68.58	44.20	0.24
21SU007	Sunrise	0.00	36.58	36.58	0.33
Including	Sunrise	1.52	3.05	1.52	1.42
Including	Sunrise	9.14	10.67	1.52	2.60
21SU007	Sunrise	44.20	56.39	12.19	0.24
21SU008	Sunrise	1.52	6.10	4.57	0.10
21SU008	Sunrise	13.72	15.24	1.52	0.20
21SU008	Sunrise	25.91	27.43	1.52	0.10
21SU008	Sunrise	44.20	45.72	1.52	0.11
21SU008	Sunrise	64.01	65.53	1.52	0.11
21SU009	Sunrise	0.00	74.68	74.68	0.26
Including	Sunrise	12.19	13.72	1.52	1.77
Including	Sunrise	48.77	50.29	1.52	1.02
21SU010	Sunrise	0.00	9.14	9.14	0.10
21SU011	Sunrise	0.00	21.34	21.34	0.13
21SU011	Sunrise	25.91	32.00	6.10	0.16
21SU011	Sunrise	36.58	38.10	1.52	0.13
21SU011	Sunrise	42.67	44.20	1.52	0.14
21SU011	Sunrise	73.15	74.68	1.52	0.10
21SU012	Sunrise	18.29	19.81	1.52	0.12
21SU012	Sunrise	32.00	33.53	1.52	0.11
21SU012	Sunrise	35.05	36.58	1.52	0.11
21SU012	Sunrise	39.62	41.15	1.52	0.11
21SU012	Sunrise	48.77	50.29	1.52	0.21
21SU013	Sunrise	3.05	4.57	1.52	0.26
21SU014	Sunrise	0.00	19.81	19.81	0.22
21SU014	Sunrise	27.43	32.00	4.57	0.34

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Hole ID	Prospect	From	To	Interval	Au (g/t)
21SU014	Sunrise	41.15	68.58	27.43	0.36
Including	Sunrise	57.91	59.44	1.52	1.31
Including	Sunrise	62.48	64.01	1.52	1.01
21SU015	Sunrise	53.34	54.86	1.52	0.19
21SU016	Sunrise	-	-	NSI	n/a
21SU017	Sunrise	7.62	10.67	3.05	0.23
21SU018	Sunrise	13.72	15.24	1.52	0.11
21SU018	Sunrise	16.76	18.29	1.52	0.10
21SU019	Sunrise	6.10	12.19	6.10	0.10
21SU019	Sunrise	19.81	21.34	1.52	0.24
21SU020	Sunrise	-	-	NSI	n/a
21SU021	Sunrise	53.34	54.86	1.52	0.38
21SU022	Sunrise	1.52	47.24	45.72	0.28
Including	Sunrise	10.67	12.19	1.52	1.93
21SU022	Sunrise	56.39	60.96	4.57	0.18
21SU022	Sunrise	65.53	67.06	1.52	0.14
21SU022	Sunrise	68.58	73.15	4.57	0.10
21SU023	Sunrise	-	-	NSI	n/a
21SU024	Sunrise	12.19	13.72	1.52	0.39
21SU024	Sunrise	18.29	19.81	1.52	0.16
21SU025	Sunrise	0.00	25.91	25.91	0.13
21SU026	Sunrise	16.76	24.38	7.62	0.44
21SU027	Sunrise	-	-	NSI	n/a

Table 1b: RML drill collar location for the 64North Project, Alaska.

Hole ID	Easting	Northing	Elevation(m)	Azimuth	Dip	EOH Depth(m)
21SU001	594872	7146547	539	70	-60	15.24
21SU002	594913	7146554	539	70	-60	15.24
21SU003	594937	7146570	549	70	-60	6.71
21SU004	595001	7146597	548	90	-60	44.2
21SU005	595070	7146585	558	90	-60	59.44
21SU006	595450	7146687	635	90	-60	68.58
21SU007	595480	7146689	636	90	-60	60.96
21SU008	595544	7146685	639	90	-60	73.16
21SU009	595510	7146673	639	270	-60	74.68
21SU010	595512	7146681	639	90	-60	9.14
21SU011	595516	7146680	639	90	-60	74.68
21SU012	595582	7146684	643	70	-60	67.06
21SU013	595611	7146689	643	70	-60	42.67
21SU014	595402	7146696	652	90	-60	68.58

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Hole ID	Easting	Northing	Elevation(m)	Azimuth	Dip	EOH Depth(m)
21SU015	595989	7146825	674	90	-60	74.68
21SU016	595924	7146830	674	90	-60	42.67
21SU017	595849	7146831	681	90	-60	24.38
21SU018	595795	7146792	679	90	-60	56.39
21SU019	595748	7146757	668	90	-60	21.34
21SU020	595753	7146758	668	90	-60	3.05
21SU021	595683	7146735	656	70	-60	54.86
21SU022	595416	7146655	633	80	-60	74.68
21SU023	595351	7146635	612	70	-60	3.05
21SU024	595351	7146627	612	70	-60	30.48
21SU025	595283	7146599	587	70	-60	30.48
21SU026	595214	7146588	581	90	-60	30.48
21SU027	595147	7146586	570	90	-60	30.48

Notes for Tables 1a and 1b

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

2. Coordinates are in NAD83, Zone 6

3. Elevation and Hole Depth are in metres

4. Azimuth is in Degrees Grid North

5. Dip is in degrees

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

7. All drilling is 3 and 5/8“ diameter RAB chip drilling, all of hole is sampled

8. Significant results are shown for intercepts >0.1g/t Au with no more than 3.048m (10 feet) of internal dilution

9. NSI = No Significant Interval

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 “Outcropping Gold System Identified - Assay Results 2020, 64North, Alaska” 18 January 2021 and 9 February 2021 “Positive revision of JV agreement for 64North project, Alaska”. The Company is not aware of any new information or data that materially affects the information included in this announcement.

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

Section 1 Sampling Techniques and Data

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

Criteria	JORC Code explanation	Commentary	Commentary
Sampling	• Nature and quality of sampling (e.g. cut	•	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.).	•	RAB chip sample intervals were
	These examples should not be taken as		set at 1.524m (5 feet) intervals (1
	limiting the broad meaning of sampling.		rod 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 and
	pulverised to produce a 30 g charge for fire		blanks) are inserted into the
	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		sequences as per industry best practice the details of which are set out below in sub-sampling techniques section.
	of detailed information.
Drilling	• Drill type (e.g. core, reverse circulation, open-	•	Rotary Air Blast (RAB) with a 3 5/8"
techniques	hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter,	•	hole diameter No down hole surveys were
	triple or standard tube, depth of diamond tails,		completed.
	face-sampling bit or other type, whether core
	_is oriented and ifso, by what method, etc.). _
Drill sample	• Method of recording and assessing core and	•	Chips were logged and sampled on
recovery	chip sample recoveries and results assessed. • Measures taken to maximise sample recovery		site at the 64North, Sunrise Prospect for the full duration of the
	and ensure representative nature of the		program by a qualified geologist
	samples.		using the drillers recorded depth
	• Whether a relationship exists between sample		against the number of 1.524m
	recovery and grade and whether sample bias		samples recovered. No significant
	may have occurred due to preferential		sample loss was observed.
	loss/gain of fine/coarse material.	•	No relationship between sample
			recovery and gradeisidentified.
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 includes,

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Criteria	JORC Code explanation	Commentary
	metallurgical studies.	but is not limited to, lithology,
	• Whether logging is qualitative or quantitative	alteration and sulphide mineralogy.
	in nature. Core (or costean, channel, etc.)	This is supervised by Resolution’s
	photography.	Vice President Exploration, who is
	• The total length and percentage of the	familiar with the mineralisation style
	relevant intersections logged.	and nature. Rock codes have been
		set up specifically for the project.
		•Drilling technique is RAB, therefore
		can’t be used to support
		appropriate Mineral Resource
		estimation, mining studies and
		metallurgical studies.
		•Drill logging is qualitative by
		geological features. Photographs
		are taken of all chip trays.
		•All drilled intervals (100%) are
		logged and recorded as standard
		operating practice.
Sub-	• If core, whether cut or sawn and whether	•Drill chips were riffle split on site
sampling techniques	quarter, half or all core taken. • If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or	(dry), then submitted for analysis at the BV laboratory in Fairbanks. •100% of the samples were
and sample	dry.	submitted for assay.
preparation	• For all sample types, the nature, quality and appropriateness of the sample preparation	•A 20% sample split is considered representative and appropriate for
	technique.	exploration stage. Appropriate high,
	• Quality control procedures adopted for all	medium and low gold and base
	sub-sampling stages to maximise	metal standards (CRM’s) are used
	representivity of samples.	on a 1:20 basis (5%). Blanks are
	• Measures taken to ensure that the sampling	inserted on a 1:50 basis (2%).
	is representative of the in situ material	Duplicate samples were taken on a
	collected, including for instance results for	1:50 basis (2%). Laboratories
	field duplicate/second-half sampling.	introduce QAQC samples and
	• Whether sample sizes are appropriate to the grain size of the material being sampled.	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 laboratory in Vancouver,
		Canada. 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
		materialsampled.

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Criteria			JORC Code explanation	Commentary	Commentary
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 1:20 basis (5%), 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 9%, which is
					appropriate to the exploration
					stage. QC checks are conducted
					after results are received utilising
					Company QC and supplied internal
					laboratory QC information.
					Laboratories introduce QAQC
					samples and complete duplicate
					check assays on a routine basis.
					No abnormalitieswere detected.
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
					the primary assay data.
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

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ASX RELEASE

Criteria		JORC Code explanation	Commentary	Commentary
		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 locking samples in
				secure shipping container until
				being loaded by a reputable
				courier and transported to a
				secure room at BV laboratory in
				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 based project
		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).

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ASX RELEASE

Criteria		JORC Code explanation	Commentary	Commentary
			•	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
				noknown impediments exist.
Exploration done by		• Acknowledgment and appraisal of exploration by other parties.	• •	Previous exploration work includes; Surface Geochemical Sampling:
other parties				Pan concentrates, fine silts, silts,
				soils & rock chips. Airborne
				Geophysics: EM, LiDAR,
				Radiometric & Magnetics.
				Ground Geophysics: Magnetics,
				Radio-metrics, EM, VLF-EM,
				NSAMT & CSAMT.
				Exploration Drilling: 46 Diamond.
Geology		• Deposit type, geological setting and style of	•	Resolution Minerals Ltd is primarily
		mineralisation.		exploring for Intrusion Related Gold
				mineralisation (e.g. Pogo-style 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
		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 0.1 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.

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ASX RELEASE

Criteria	Criteria	JORC Code explanation	Commentary
		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 intercept		• If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole	•“Down hole length, true width not known” is stated in the notes to 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 released
substantive exploration		material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical	assay results for trenching completed on the Sunrise Prospect. See ASX:RML
data		survey results; bulk samples – size and	announcement released on the
		method of treatment; metallurgical test	18/01/2021 for details.
		results; bulk density, groundwater,	•Resolution Minerals completed a
		geotechnical and rock characteristics;	heli-borne magnetic survey. See
		potential deleterious or contaminating	ASX:RML announcement released
		substances.	on the 30/10/2020 for details.
			•Resolution Minerals completed a
			ZTEM survey. See ASX:RML
			announcement released on the
			25/08/2020 for details.
			•Millrock Resources completed a
			CSAMT survey. See TSX.V: MRO
			announcement, released on the
			9/10/2019fordetails.
Further		• The nature and scale of planned further work	•Further exploration such as IP
work		(e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling).	geophysics surveys, geological mapping soils and drilling is being
		• Diagrams clearly highlighting the areas of	contemplated at the Sunrise
		possible extensions, including the main	Prospect once a full technical
		geological interpretations and future drilling	review of the new exploration
		areas, provided this information is not	results has been completed.
		commercially sensitive.

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