RESOLUTION MINERALS LTD — Capital/Financing Update 2022

Feb 24, 2022

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25 February 2022
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POSITIVE TECHNICAL STUDY COMPLETED – COPPER-GOLD-MOLY PORPHYRY PROSPECTS, DIVIDE BLOCK, 64NORTH PROJECT ALASKA

• Resolution has undertaken a technical study of the Cu-Au-Mo porphyry and gold potential of the Divide Block, 64North Project, Alaska

• The study concludes the Elaine Prospect has affinities with the giant Pebble Deposit in SE-Alaska ( 37Mt Cu, 39Moz Au ) - equivalent age and whole rock fertility signature

• The Elaine Prospect Porphyry is large scale and located within the same porphyritic belt, which hosts large scale Cu-Au-Mo porphyry deposits such as Casino in the Yukon, Canada

• Drill core from previous gold explorers was recovered from the Elaine Prospect containing chalcopyrite, Cu oxides, molybdenite, arsenopyrite within quartz veins and porphyry stock

• Historical core has been logged and sampled with assay results expected late Q1, 2022

• Geophysics surveys are planned during the 2022 summer field season to define drill targets

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Figure 1 Key Prospects and claims at Resolution’s 64North Project, Alaska. Total size 357km[2]

CAPITAL STRUCTURE

BOARD

Ordinary Shares Issued 658 M

Options and rights Listed options 6 M @ 10c Listed options 74 M @ 12c Unlisted options 13 M @ 8c Unlisted options 59 M @ 4c Unlisted options 79 M @ 3c Unlisted rights 18 M

Performance Shares Class A 9.6 M Class B 3.6 M Last Capital Raise Sep-Oct-21 - Placement and SPP $3.4M @ 2c

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

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ASX RELEASE
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Elaine Porphyry
Granite Batholith Outcrop
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Figure 2 Looking south-west towards the Elaine Prospect, Divide Block, 64North Project.

As we begin our third season in Alaska, and really start to get “under the hood” of the rocks in this region, the prospect pipeline continues to surprise on the upside with opportunities often overlooked or not followed up by previous explorers as focus was drawn elsewhere.

The Elaine Cu-Au-Mo Porphyry Prospect is a hidden gem of a prospect and a potential significant opportunity overlooked by the rush and focus for gold surrounding the neighbouring world-class Pogo Gold Mine.

Encouragingly the giant Pebble Cu-Au-Mo Porphyry Deposit and Resolution’s Elaine Prospect are the same age and share the same whole rock fertility signature from studies undertaken by Resolution, leading us to re-rate the prospect to warrant working up drill targets.

Resolution’s exploration team has diligently worked in the background on assessment of the Elaine Prospect amongst other prospects, over the last two and half years and identified the scale potential and prospectivity of the opportunity for the Company.

The heavily endowed Tintina Gold Province extends across central Alaska and the Yukon, Canada, and famously hosts >100m oz of gold deposits collectively. Often overlooked is the giant sized CuAu-Mo porphyry deposits and prospects, such as the nearby Casino deposit with 4.9Mt contained copper and 21Moz of gold over the border in the Yukon, Canada. The world’s largest undeveloped copper deposit, aptly named “Pebble” sits at the SW of tip of Alaska and hosts a staggering 37Mt (Cu) of copper and 117Moz (Au) of gold.

While the focus for the summer 2022 field season will be to drill the Tourmaline Ridge prospect. Alongside that, our team will quantify the scale potential and prospectivity of the Elaine, George and Kramer Prospects, with the aim of defining drill targets using geophysics surveys and surface sampling during the summer of 2022.

- Managing Director, Duncan Chessell

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Resolution Minerals Ltd ( RML or Company ) is pleased to announce an update on the Cu-Au-Mo porphyry assessment of the Elaine and George Prospects within the Divide Block, 64North Project, Alaska.

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Chalcopyrite Vughs
Molybdenite
Cu Oxide Arsenopyrite
Quartz/Intrusive
Contact
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Figure 3 Elaine Prospect, HoleID 00ED-01, (left) 61.97m depth, > 3cm thick quartz vein cross cutting altered (propylitic?) biotite ± hornblende quartz monzonite porphyry with visible chalcopyrite and molybdenite (B Vein) and (right) 71.7m depth, > 3cm quartz vein cross cutting quartz monzonite porphyry with chalcopyrite, molybdenite, arsenopyrite, Cu oxides and oxide filled vughs after sulphides (B Vein).

Regional Cu-Au-Mo Porphyry potential

The Tintina Gold Province is a 2,000 km long, highly endowed belt, which extends across central Alaska (US), through the Yukon Territory and into northern British Columbia (Canada) ( Figure 4 ). There are more than 100Moz of combined Au resources known to be hosted within the Tintina Gold Province, the majority of which are classified as Reduced Intrusion Related Gold Style (RIRGS). However, the Tintina is also prospective for Cu-Au-Mo porphyry mineralisation as demonstrated by the giant Casino porphyry deposit (Yukon, Canada), which contains Combined Resources (Inferred, Measured & Indicated) of 4.92Moz Au, 21.1Mt Cu, 0.51Mt Mo and 168.7Moz Ag ( Figure 4 & 5, Table 1 ).

Major porphyry deposits commonly cluster along linear belts, which extend for up to hundreds of kilometres long such as the Tintina, but also occur less commonly in apparent isolation e.g., Pebble in Alaska, Butte in Montana, and Bingham in Utah (Sillitoe, 2010).

The Pebble Cu-Au-Mo porphyry deposit located in south-west Alaska is an example of an apparent isolated deposit and contains Combined Resources (Measured & Indicated) of 117Moz Au, 37Mt Cu, 2.56Mt Mo and 574Moz Ag and is the largest undeveloped copper ore body in the world (Figure 4, Table 1, Appendix 1).

The Elaine Prospect porphyry is located within the same geological setting at Casino (continental arc), albeit related to older Pebble-aged intrusions, within a zone defined as being prospective for porphyry mineralisation by the United States Geological Survey (USGS) (Kreiner et al, 2020) ( Figure 5 ). Previously unknown historical drill core was located on the ground at Divide and has been recovered, logged, and submitted for analysis. The core contains chalcopyrite, Cu oxides, molybdenite & arsenopyrite within quartz veins ( Figure 3, Figure 8 - 12 ) and porphyry stock.

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Figure 4 Deposit map for Alaska and Yukon IRGS Gold Deposits and Cu-Au-Mo Porphyry Deposits (expressed as endowment), referenced from company websites listed in appendix and Sharman et al, 2020 - CIM)

Table 1: Contained Metal of Porphyry Deposits within Alaska, US and the Yukon Territory, Canada

Name	Province	Cu Mt	Au Moz	Mo Mt	Ag Moz	Category	Age (Ma)
Pebble	Alaska	37	117	2.56	574	Measured + Indicated	89-91
Whistler	Alaska	0.5	6.4	No data	29	Combined Resources: Inferred, Measured & Indicated	76.5
Taurus	Alaska	0.19	0.40	0.02	No data	Resources: Historical	69-72
Orange Hill	Alaska	1.12	1.13	0.10	2.26	Resources: Historical	105 - 117
Bond Creek	Alaska	2.00	Present	0.10	Present	Resources: Historical	113.5
Baultoff	Alaska	0.29	0.05	0.01	No data	Resources: Historical	111
Pyramid	Alaska	0.57	0.49	0.03	No data	Resources: Inferred	6.4
Round Top	Alaska	0.50	No data	Present	Present	Resources: Historical	74.8
*Casino	Yukon	4.92	21.1	0.51	168.7	Combined Resources: Inferred, Measured & Indicated	72-74
Cash	Yukon	0.06	0.26	0.004	No data	Resources: Historical	75.9
Revenue /Nucleus	Yukon	0.07	1.54	No data	4.48	Resources: Indicated + Inferred	75.4

( Sharman et al, 2020 – Canadian Institute of Mining, Metallurgy and Petroleum, *Casino published Company 43-101 Report 2 August 2021 www.westerncopperandgold.com)

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Figure 5 Distribution of porphyry occurrences within Alaska defined by classification and age (Kreiner et al, 2020)

Divide Block Overview

The Divide Block is prospective for two styles of mineralisation:

1. Porphyry Cu-Au-Mo (Elaine & George Prospects); and

2. Reduced Intrusion Related Au (Kramer Prospect) ( Figure 6 ).

The Divide Block is located south of the Tectonic Metal’s Tibbs Project (RAB intersection of 9.14m @ 6.71g/t Au [ 5th September 2020 TSX-V Tectonic Metals] and 190g/t rock chip at Western Trench prospect [ 10th November 2021 TSX-V Tectonic Metals ] and east of the Brink Project (diamond core intersections including 514.4m @ 0.427g/t Au [ 15th September 2020 TSX-V Tectonic Metals] ) ( Figure 1 ).

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RIRGS gold
Prospective Zone
Cu-Au-Mo
Historical Rock
Porphyry
Chip
Prospective
3.96g/t Au
Zone
Recovered Historical
Under-sampled
Drillholes (ID: 00ED-01
Ridge Over Cluster
and 02) Intersecting
Mineralised Quartz- George of Mag/EM
Anomalies
Monzonite Porphyry
(Assays Pending)
(Assay Pending)
Historical Rock Chip
RML Rock Chip 0.76% Cu, 0.22g/t Au,
0.75 g/t Au 34ppm Mo
(new result)
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Figure 6 Divide Block with geochemistry overlying transparent Magnetics (TMI) on DEM. Note the cluster of mag anomalies northeast of Elaine has been ineffectively sampled due to cover and coincides with an interpreted NW-SE and NE-SW structural intersection (George Prospect). Grey square = pending rock chips, grey circles = pending soils, dashed black lines RML interpreted structures. (results in JORC Table in the appendix)

Historical work includes detailed soil sampling and rock chip sampling focussed on outcrop and subcropping areas with maximum rock chip values of 3.96g/t Au. The most elevated historical porphyry rock chip samples contain up to 0.76% Cu, 0.22g/t Au and 34ppm Mo ( RML ASX Announcement 26/11/2019 ). Resolution has extended the known extent of the mineralised porphyry system >1km to the south with an occurrence of 0.75g/t Au ( Figure 6 ) (new result - see JORC table and appendix).

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Propylitic alteration and disseminated sulphide mineralisation was observed within the quartz-felspar porphyry body mapped along the western margin of the Divide Block. This observation in conjunction with the presence of low-grade copper and molybdenite mineralisation could indicate proximity to a high-grade porphyry ore zone.

Surprisingly, there are multiple ridge lines, which remain unsampled including an area following a subtle magnetic trend to the north and another ridge line associated with discrete magnetic highs, with elevated soils at either end referred to as the George Prospect ( Figure 6 ). Magnetic highs are commonly associated with the core of porphyry deposits, associated with magnetite forming within the potassic alteration zone. The highest copper and gold grades are associated with the potassic alteration zone, so vectoring towards this is important.

Detailed mapping and surface geochemistry was completed in September 2021 to further assess the areas potential for both RIRGS and Porphyry mineralisation beyond the known prospects with assays expected in Q1 2022 ( Figure 6 ).

During January 2022, Resolution completed a fertility analysis, comparing whole rock analysis of intrusions from Divide, with the Pebble Deposit and other porphyry deposits worldwide. The analysis highlights a clear overlap in Sr/MnO vs Sr/Y and Sr/Y vs SiO2 fertility ratios between the Pebble Deposit and the Elaine Prospect. Pebble Sr/Y ratios range from 5-60 and SiO2 range from 60-75 wt%, according to whole-rock data presented by Olson, 2015, which overlap the bulk of the intrusions analysed from Divide ( Figure 7 ).

U-Pb zircon geochronology was completed on a porphyry sample from Elaine and returned an age of 94.96 ±0.84 Ma (GeoSep Services), similar to other mid-Cretaceous porphyries in Alaska, including the giant Pebble Cu-Au-Mo Deposit (~90Ma).

The combined results of the geochronology and the fertility analysis are extremely positive, given results are akin to the giant Pebble Deposit. Furthermore, the north-east trending district scale Serpentine Fault ( Figure 6 ), which forms part of the Black Mountain Tectonic Zone coincides with the Divide Block, which RML believes could have given rise to a potential major porphyry copper deposit. Intersections between continent-scale transverse fault zones and arc parallel structures have the potential to localise porphyry Cu generation through facilitating magma ascent in a porphyry system (Sillitoe, 2010).

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Pebble Cu-Au-Mo Productive Intrusions
Typical Chilean Fertile
Cu-Mo Intrusions
Divide (Elaine) Prospective Intrusions
(Overlapping with Pebble)
Divide Less Prospective Intrusions
Sr/Y
Sr/MnO
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Figure 7 Porphyry prospectivity diagram showing the respone from Pebble in the same zone as the results from the Elaine Prospect (Ahmed et al., 2019), noting the Alaskan porhyries have a slightly different signature to that of the Chilean porphyries.

Historical Drilling

Resolution Minerals has a historical exploration database covering a significant amount of the exploration work, which occurred across the 64North Project between 1998 and 2016. The dataset relating to the Divide Block covers 1999 to 2001, but upon field investigation has been found to be incomplete. Diamond drill core was located within tenure, which is not recorded in the database ( Figure 8 - 12 ). Resolution has been undertaking research and talking to local geologists to ascertain the full exploration history of the Divide Block. [ Explorers are not required to report exploration results to the geological surveys in the USA – hence previous exploration data is often lost ].

Core from two diamond drill holes were staged close to two metal casings sticking out of the ground, one dipping -40º, the other -50º and both directed due south (180º) ( Figure 9a ). Labels on the core boxes indicate the holes were drilled in the year 2000 with hole IDs (00ED-01 & 00ED-02).

The core was recovered via helicopter in September 2021. Logging and sampling has now been completed with assays expected in late Q1, 2022. Much of the core is intact as half core, with several sections of core missing, so presumably these sections visually had the highest potential for gold mineralisation. Despite some sections of missing core, re-analysis is considered extremely worthwhile, given explorers were focussed on gold exploration at the time and may have overlooked the significance of visible copper minerals and molybdenite in the core. Other drill platforms/staging areas were noted to the west of these collars (down slope). Enquiries are ongoing to ascertain the history of these platforms ( Figure 8 ).

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Figure 8 View from helicopter looking east-southeast towards the Elaine Prospect historical drill pads.

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a b c
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Figure 9 (a) Drill collar pipe - two holes drilled at variable dip (b) Helicopter sling operations recovering drill core (c) Core logging

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Detailed logging identified the presence of multiphase intrusions and veins sets. Veins observed included.

• (1) Quartz, no sulphide, no alteration halo (EB vein) – Early Stage

• (2) Quartz veins with a central line of thin sulphides (chalcopyrite-pyrite) and/or molybdenite along the margins (AB type veins) – Early to Transitional Stage

• (3) Straight sulphide (chalcopyrite-pyrite) veins (C type veins) – Transitional Stage

• (4) Crustiform quartz sulphide (chalcopyrite-pyrite) veins with a prominent vein selvage (D type vein) – Late Stage

Stockwork veining and hydrothermal breccias have also been observed. During the logging and sampling of the historical core, select samples were taken for thin section analysis to aid Resolution’s understanding of the mineralogy and contact relationships observed in the core. Preliminary observations and interpretation of veining highlighted in Figure 3 and Figure 10 - 12 .

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C Vein
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Quartz/Intrusive
Contact
Tarnished
Chalcopyrite
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Figure 10 Elaine Prospect, HoleID 00ED-02, 69.7m, (left) mm pyrite-chalcopyrite vein cross cutting coarse intrusive/quartz vein contact (C Vein) and (right) zoom in on tarnished chalcopyrite within quartz vein (B Vein).

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Molybdenite
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Figure 11 Elaine Prospect, HoleID 00ED-01, 16.8m depth, 1cm wide quartz vein cross cutting biotite ± hornblende quartz monzonite porphyry at 45 degrees. Molybdenite is present along the vein margins (B Vein) with a potassic alteration selvage.

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Sulphides
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Figure 12 Elaine Prospect, Hole ID 00ED-01, 57.15m depth, quartz-sulphide stockwork veining (black dashed lines) cross cutting biotite ± hornblende quartz monzonite intrusive.

Summary Of Planned Work For 2022

Planned work for 2022 includes

• Analysis of pending geochemical assay results from historical core and surface sampling.

• Thin sections to further understand the mineralogy and contact relationships observed in the core.

• Planning and execution of geophysical surveys:

• Infill airborne magnetics to define magnetite associated with potassic alteration (potential high-grade core).

• Ground geophysics (IP or ELF-EM) survey to define disseminated sulphides associated with phyllic alteration (10% pyrite shell)

• Additional mapping and surface geochemistry to further assess the areas potential for both RIRGS (Au) and Cu-Au-Mo Porphyry mineralisation.

Upon completing the above work, prioritise near term drill targets for the 2023 field season and make logistical preparations for 2023 summer drilling season.

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Prospectivity Highlights

Porphyry Prospectivity

• Partially exposed Cu-Au-Mo Porphyry mineralisation on the western margin of the Americas known to host 18 of the world’s 20 largest Porphyry Cu-Au ± Mo deposits.

• Historical porphyry rock chips up to 0.76% Cu, 0.22g/t Au and 34ppm Mo.

• Prospective mid-Cretaceous age akin to the giant Pebble porphyry Cu-Au-Mo deposit of SW Alaska

• Propylitic alteration and disseminated sulphide mineralisation in conjunction with the presence of low-grade copper and molybdenite mineralisation could indicate proximity to a high-grade porphyry ore zone.

• Previous drilling includes only two short holes (<100m). Previous explorers were primarily focused on gold.

• Additional, large, untested porphyry target (George Prospect) within tenure comprising a cluster of coincident magnetic/frequency domain EM anomalies, with typical footprint size of a porphyry but under shallow cover – ineffectively tested; and

Gold Prospectivity

• Divide Block is also prospective for Intrusion Related Gold Systems (IRGS). Assays pending from 2021 field program. Historical quartz vein rock chips up to 3.96g/t Au.

• Proximal to Tectonic Metal’s Tibbs Project (RAB intersection of 9.14m @ 6.71g/t Au and rock chip 190.4g/t Au) and Northern Star’s Brink Project (diamond core intersections including 514.4m @ 0.427g/t Au).

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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 42% interest in the project and is earning up to a 60% interest in stages (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 31 January 2022 for full details.

Resolution Minerals Ltd is a precious and battery metals mineral explorer with its gold and copper focussed flagship 64North Project in Alaska; and holds the Wollogorang, Carrara Range and Benmara battery metal Projects in Australia.

For further information please contact the authorising officer Duncan Chessell:

Duncan Chessell Julian Harvey Managing Director Investor Communications Resolution Minerals Ltd Resolution Minerals Ltd M: +61 414 804 055 M: +61 404 897 584

E: duncan@resolutionminerals.com j.harvey@resolutionminerals.com W: www.resolutionminerals.com

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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 Ms Christine Lawley who is a member of the Australasian Institute of Mining and Metallurgy and Australian Institute of Geoscientists. Ms Christine Lawley is a full-time employee of the company and holds Shares, Options and Performance Rights in the Company. Ms Christine Lawley 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’. Ms Christine Lawley 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 “2019 AGM Managing Director’s Presentation” on 26 November 2019 and AMA technical presentation 2020 on 30 October 2020”. The Company is not aware of any new information or data that materially affects the information included in this announcement.

Abbreviations

Cu: Copper Mo: Molybdenum Au: Gold Sr: Strontium Y: Yttrium MnO: Manganese oxide

*Tintina Gold Province and Porphyry Deposits (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), Casino (Western Copper & Gold; www.westerncopperandgold.com) and Porphyry Deposits of the Northwestern Cordillera of North America: A 25year update, Sharman et al, 2020 – Canadian Institute of Mining, Metallurgy and Petroleum.

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Appendix 1. Why isn’t Pebble in Production?

Pebble was discovered in the late 1980s and is the largest undeveloped copper ore body in the world (Olson et al, 2020), however it has never gone into production. This doesn’t relate to the mineral economics of the deposit, but instead to complexities surrounding the location of the deposit and permitting, primarily relating to the potential impact on fish habitat. Pebble is positioned within a watershed, which drains into Bristol Bay, providing spawning habitat (freshwater tributaries) for 5 species of salmon. Bristol Bay itself supports salmon, herring, and other fisheries, which contributes 31% of Alaska’s annual seafood export, which in turn contributes $5.6B annually to the state’s economy. The Elaine Prospect is located much further inland and extremely unlikely to have significant impact on anadromous fish species.

Appendix 2a. Summary table of historical drill hole details and new rock chip results

No results have yet been received on historical drill core submitted for assay. The Company expects to receive results in Q1, 2022.

One new rock chip result (2020) and one historical rock chip (2001) are included in this announcement. The location and assay results are included on Figure 6 and for clarity detailed below in Table 2a.

Table 2a: Rock	chip location and assay results	chip location and assay results	chip location and assay results
Surface Rock Chip	Easting	Northing	Elevation (SRTM)	Grade Cu ppm	Grade Mo ppm	Grade Au g/t	Company
700204	635525	7128412	960m	81.5	1.8	0.75	Resolution(2020)
No ID	636200	7129483	1320m	7620	34	0.22	Anglo(2001)

Table 2b: Historical drill collar location for the Divide Block, 64North Project, Alaska.

Hole ID	Easting	Northing	Elevation (SRTM)	Azimuth	Dip	EOH Depth
00ED-01	636178.5	7129612	1312m	180°	40°	90.98m
00ED-02	636178.5	7129612	1312m	180°	50°	93.27m

Notes for Tables 2b

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 measured from SRTM imagery

4. Azimuth was measure with a handheld compass from the preserved collar pipe

5. Dip was measured with a handheld compass from the preserved collar pipe

6. Diameter of diamond core is 40.7mm (BQ-TK)

7. No historical assay data is available.

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Appendix 3. 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	•	This release relates to results from
techniques	channels, random chips, or specific specialised industry standard measurement	•	surface geochemistry. No drilling has been undertaken by
	tools appropriate to the minerals under		Resolution Minerals on the Divide
	investigation, such as down hole gamma		Block, although limited historical
	sondes, or handheld XRF instruments, etc.).		drilling exists.
	These examples should not be taken as	•	Historical drill hole coordinates are
	limiting the broad meaning of sampling.		in UTM grid (NAD83 Z6N) and
	• Include reference to measures taken to		have been measured by hand-held
	ensure sample representivity and the		GPS with a lateral accuracy of ±4
	appropriate calibration of any measurement		metres and a vertical accuracy of
	tools or systems used.		±5 metres.
	• Aspects of the determination of mineralisation	•	There is no historical assay,
	that are Material to the Public Report.		orientation, core quality or core
	• In cases where ‘industry standard’ work has		recovery data available to
	been done this would be relatively simple		quantify mineralisation or true
	(e.g., ‘reverse circulation drilling was used to		widths.
	obtain 1 m samples from which 3 kg was	•	Historical BQ-TK half core has
	pulverised to produce a 30 g charge for fire		been sampled using standard
	assay’). In other cases, more explanation may		industry practice and a standard
	be required, such as where there is coarse Au		operating procedure to ensure
	that has inherent sampling problems. Unusual		continuity of work practices
	commodities or mineralisation types (e.g.,		between staff. The sections of core
	submarine nodules) may warrant disclosure		selected for assay are marked up
	of detailed information.		and then recorded on a sample
			sheet. Historical core was pre-cut
			and additional details for the
			cutting method are unknown. The
			RML logging geologist confirmed
			historical core was cut at
			geologically defined or significant
			alteration and mineralisation
			boundaries to ensure adequate
			sample representivity.
		•	QAQC samples (standards and
			blanks) are inserted into the
			sequences as per industry best
			practice the details of which are
			set out in sub-sampling techniques
			section.
		•	Diamond core sample intervals
			were set between 0.1m minimum
			and 1.5m maximum.
		•	Individual samples weigh less than
			3kg to ensure total preparation at
			the laboratory pulverisation stage
			toproduce 30gram charge for fire

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Criteria	JORC Code explanation	Commentary	Commentary
			assay. The sample size is deemed
			appropriate for the grain size of the
			material being sampled.
		•	Historical core assay results are
			**pending. **
Drilling	• Drill type (e.g., core, reverse circulation,	•	This release relates to results from
techniques	open-hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g., core	•	surface geochemistry. No drilling has been undertaken by
	diameter, triple or standard tube, depth of		Resolution Minerals on the Divide
	diamond tails, face-sampling bit, or other		Block, although limited historical
	type, whether core is oriented and if so, by		drilling exists.
	what method, etc.).	•	Historical diamond core has a BQ-
			TK diameter.
		•	Additional details from
			historical drilling are unknown.
		•	Historical core assay results are
			**pending. **
Drill sample	• Method of recording and assessing core and	•	This release relates to results from
recovery	chip sample recoveries and results assessed. • Measures taken to maximise sample recovery	•	surface geochemistry. No drilling has been undertaken by
	and ensure representative nature of the		Resolution Minerals on the Divide
	samples.		Block, although limited historical
	• Whether a relationship exists between sample		drilling exists.
	recovery and grade and whether sample bias	•	Historical core was processed in a
	may have occurred due to preferential		secure core logging facility located
	loss/gain of fine/coarse material.		in Fox, Alaska.
		•	Additional details from historical
			drilling are unknown.
		•	Historical core assay results are
			**pending. **
Logging	• Whether core and chip samples have been	•	This release relates to results from
	geologically and geotechnically logged to a		surface geochemistry.
	level of detail to support appropriate Mineral	•	No drilling has been undertaken by
	Resource estimation, mining studies and		Resolution Minerals on the Divide
	metallurgical studies.		Block, although limited historical
	• Whether logging is qualitative or quantitative		drilling exists.
	in nature. Core (or costean, channel, etc.)	•	Historical core logging is carried out
	photography.		by RML qualified geologists using a
	• The total length and percentage of the		project specific logging procedure.
	relevant intersections logged.		Data recorded includes, but is not
			limited to, lithology, structure,
			alteration, sulphide mineralogy and
			presence of visible gold.
			Resolution’s Exploration Manager
			and Managing Director monitor drill
			core remotely using photographs
			and logs. Lithology is measured to
			~3cm scale marked from the
			closest core block. Rock codes
			have been set up specifically for the
			project. Logging is not to a
			sufficient level of detail to support
			appropriate Mineral Resource
			estimation and miningstudies.

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ASX RELEASE

Criteria	JORC Code explanation	Commentary
		•Drill logging is both qualitative by
		geological features and quantitative
		by geotechnical parameters.
		Photographs are taken of all cores
		trays, prior to sampling.
		•All drilled intervals are logged and
		recorded as standard operating
		practice.
		• Additional details (e.g., core
		quality and recovery) from
		historical drilling are unknown.
Sub-	• If core, whether cut or sawn and whether	•This release relates to results from
sampling techniques	quarter, half or all core taken. • If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or	surface geochemistry. •No drilling has been undertaken by Resolution Minerals on the Divide
and sample preparation	dry. • For all sample types, the nature, quality, and appropriateness of the sample preparation	Block, although limited historical drilling exists. •Historical core was pre-cut and
	technique.	submitted for analysis at the BV
	• Quality control procedures adopted for all	laboratory in Fairbanks.
	sub-sampling stages to maximise	•100% of the available historical BQ-
	representivity of samples.	TK half core was sampled. Several
	• Measures taken to ensure that the sampling	intervals of core were missing,
	is representative of the in situ material	therefore sampling can not be
	collected, including for instance results for	considered representative but is
	field duplicate/second-half sampling.	appropriate for the exploration
	• Whether sample sizes are appropriate to the	stage. The location of missing core
	grain size of the material being sampled.	intervals was recorded in the
		logging.
		• Additional details from historical
		drilling are unknown.
		•Standard sampling techniques were
		used for collection of surface
		samples and drill core.
		•1kg surface samples (rock and soil)
		were collected in the field and
		considered representative and
		appropriate for exploration stage.
		Core samples were < 3kg as
		previously stated.
		•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 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
		andwere subsequently analysed at

17

ASX RELEASE

Criteria		JORC Code explanation	Commentary
			BV laboratory in Reno, Nevada
			(gold) and Vancouver, Canada
			(multielement). Core and rock
			sample gold was analysed by Fire
			Assay (FA430/AA) with an AAS
			finish using a 30gram nominal
			sample weight. Multielement
			analysis by 4 Acid digestion and
			ICP-MS analysis (MA200). Soils
			sample gold and multielement was
			analysed by Aqua Regia digestion
			and Ultratrace ICP-MS analysis
			(AQ250).
			•No duplicate samples were taken.
			Laboratories complete duplicate
			check assays on a routine basis
			with data provided to the client.
			•Sample size as defined above is
			considered appropriate to the
			material sampled.
			• Historical core assay results are
			**pending. **
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 and MA200 4 Acid
laboratory tests		• For geophysical tools, spectrometers, handheld XRF instruments, etc., the parameters used in determining the analysis	digestion with ICP-MS analysis was applied to Core and Rock Chips. AQ250 Aqua Regia digestion
		including instrument make and model,	Ultratrace ICP-MS analysis was
		reading times, calibrations factors applied and	applied to Soils.
		their derivation, etc.	•No use of portal XRF is reported.
		• Nature of quality control procedures adopted	•QAQC procedures included the
		(e.g., standards, blanks, duplicates, external	insertion of appropriate high,
		laboratory checks) and whether acceptable	medium, and low gold and base
		levels of accuracy (i.e., lack of bias) and	metal Certified Reference Materials
		precision have been established.	(CRM) on a 1:50 basis (2%) and
			Blank material on a 1:50 basis (2%)
			for a total insertion rate of 4%,
			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 abnormalities were detected in
			the surface sampling.Historical
			core assay results are pending.
Verification		• The verification of significant intersections by	•This release relates to results from
of sampling		either independent or alternative company personnel.	surface geochemistry; verification of significant intersections and the
		• _The use of twinned holes. _	use of twinned holes is not relevant

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ASX RELEASE

Criteria		JORC Code explanation	Commentary	Commentary
and		• Documentation of primary data, data entry		to this release.
assaying		procedures, data verification, data storage (physical and electronic) protocols.	•	No drilling has been undertaken by Resolution Minerals on the Divide
		• Discuss any adjustment to assay data.		Block, although limited historical
				drilling exists.
			•	Historical core assay results are
				pending.
			•	At least two RML geologists have
				reviewed the core, logging and
				photographs.
			•	There are no twinned holes.
			•	Drilling and surface sampling
				information is digitally entered and
				stored following documented core
				handling and sampling procedures
				and backed up electronically.
			•	No adjustments have been made to
				the primary assay data.
			•	Additional details from historical
				drilling are unknown.
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 GPS with a lateral
		locations used in Mineral Resource		accuracy of ±4 metres and a
		estimation.		vertical accuracy of ±5 metres.
		• Specification of the grid system used.
		• Quality and adequacy of topographic control.
Data		• Data spacing for reporting of Exploration	•	This release relates to results from
spacing and distribution		Results. • Whether the data spacing, and distribution is sufficient to establish the degree of geological	•	surface geochemistry. No drilling has been undertaken by Resolution Minerals on the Divide
		and grade continuity appropriate for the		Block, although limited historical
		Mineral Resource and Ore Reserve		drilling exists.
		estimation procedure(s) and classifications	•	Historical core assay results are
		applied.		pending.
		• Whether sample compositing has been	•	Data spacing is of historic drilling
		applied.		insufficient to establish the degree
				of geological and grade continuity
				required for a Mineral Resource
				estimation.
			•	Sample composting has not been
				applied to these exploration
				results.
Orientation		• Whether the orientation of sampling achieves	•	This release relates to results from
of data relation	in to	unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.	•	surface geochemistry. No drilling has been undertaken by Resolution Minerals on the Divide
geological structure		• If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have	•	Block, although limited historical drilling exists. Historical core assay results are
		introduced a sampling bias, this should be		pending.
		assessed and reported if material.	•	The relationship between the
				sampling orientationand the

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ASX RELEASE

Criteria		JORC Code explanation	Commentary	Commentary
				orientation of key mineralised
				structureshasnot beenconfirmed.
Sample		• The measures taken to ensure sample	•	No drilling has been undertaken by
security		security.		Resolution Minerals on the Divide Block, although limited historical
				drilling exists.
			•	A secure chain of custody protocol
				has been established with the site
				geologist securely storing surface
				samples on site or in a core
				logging facility at Fox until being
				loaded by a reputable courier and
				transported to a secure area at BV
				laboratory in Fairbanks.
			•	Historical core assay results are
				**pending. **
Audits	or	• The results of any audits or reviews of	•	No review has been undertaken at
reviews		sampling techniques and data.	•	this time. No drilling has been undertaken by
				Resolution Minerals on the Divide
				Block, although limited historical
				drilling exists.
			•	Additional details from historical
				drilling are unknown.
			•	Historical core assay results are
				**pending. **

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 holds a
tenement and land		ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties,	42% interest in the 64North Project by way of exploration and earn-in agreement with Millrock Resources
tenure		native title interests, historical sites,	(TSXV: MRO). Resolution has the
status		wilderness or national park and environmental settings.	right to earn up to 60% on the entire project and an 80% interest
		• The security of the tenure held at the time of	on a single “best block”. The latest
		reporting along with any known impediments	update and full details on the
		to obtaining a licence to operate in the area.	agreement was announced by
			Resolution 31 January 2022.
			•The total tenement area comprising
			the 64North Project consists of 655
			State of Alaska claims (35,700
			hectares or 357km2).
			•The 64North Project is located
			approximately 120km east of
			Fairbanks.
			•The tenure is in good standing and
			no known impediments exist.

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ASX RELEASE

Criteria		JORC Code explanation	Commentary	Commentary
Exploration done by		• Acknowledgment and appraisal of exploration by other parties.	• •	Previous exploration work on the 64North Project included; 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 Reduced Intrusion
				Related Gold mineralisation (e.g.,
				Pogo-style & Fort Knox-style) and
				Copper-Molybdenum-Gold
				Porphyry mineralisation within the
				Yukon-Tanana Terrane of the
				north-westernCordillera,Alaska.
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	•	surface geochemistry. No drilling has been undertaken by
		information for all Material drill holes:		Resolution Minerals on the Divide
		o easting and northing of the drill hole collar		Block, although limited historical
		o elevation or RL (Reduced Level –		drilling exists.
		elevation above sea level in metres) of the	•	See Appendix 2 summary table of
		drill hole collar		drill hole location (assay results
		o dip and azimuth of the hole		are pending).
		o down hole length and interception depth o hole length.	•	An accurate dip and strike and the controls on mineralisation are yet
		• If the exclusion of this information is justified		to be determined and the true
		on the basis that the information is not		width of the intercepts is not yet
		Material and this exclusion does not detract		known.
		from the understanding of the report, the	•	Additional details from
		Competent Person should clearly explain why		historical drilling are unknown.
		this is the case.	•	Historical core assay results are
				**pending. **
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	•	surface geochemistry No drilling has been undertaken by Resolution Minerals on the Divide
		Material and should be stated.		Block, although limited historical
		• Where aggregate intercepts incorporate short		drilling exists.
		lengths of high-grade results and longer	•	Additional details from historical
		lengths of low-grade results, the procedure		drilling are unknown.
		used for such aggregation should be stated	•	Historical core assay results are
		and some typical examples of such		pending.
		aggregations should be shown in detail.	•	No metal equivalents will be used.
		• The assumptions used for any reporting of
		metal equivalent values should be clearly
		_stated. _

21

ASX RELEASE

Criteria	Criteria	JORC Code explanation	Commentary	Commentary
Relationship		• These relationships are particularly important	•	This release relates to results from
between mineralisati		in the reporting of Exploration Results. • If the geometry of the mineralisation with respect to the drill hole angle is known, its	•	surface geochemistry. No drilling has been undertaken by Resolution Minerals on the Divide
on	widths	nature should be reported.		Block, although limited historical
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	•	drilling exists. For historical holes “Down hole length, true width not known” is
lengths		length, true width not known’).	•	stated in the notes to Table 2a. Historical core assay results are
				pending.
Diagrams		• Appropriate maps and sections (with scales)	•	Plan view of surface sample
		and tabulations of intercepts should be		locations has been included in the
		included for any significant discovery being		body of this report.
		reported These should include, but not be	•	There is no data available for the
		limited to a plan view of drill hole collar		historical holes, therefore no drill
		locations and appropriate sectional views.		section could be provided.
			•	Historical core assay results are
				**pending. **
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.		reported when appropriate here.
			•	Historical core assay results are
				pending.
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		WorldView-3 survey. See ASX:RML announcement released on the 5/11/2020 for details.
data		survey results; bulk samples – size and
		method of treatment; metallurgical test
		results; bulk density, groundwater,
		geotechnical and rock characteristics;
		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 including ground and
		• Diagrams clearly highlighting the areas of		airborne geophysics and drilling.
		possible extensions, including the main
		geological interpretations and future drilling
		areas, provided this information is not
		commercially sensitive.

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