RESOLUTION MINERALS LTD — Capital/Financing Update 2023

Feb 20, 2023

21 February 2023

EXPLORATION UPDATE - WOLLOGORANG PROJECT, NT

Highlights

• Assays have been received from 3,152m of a planned 6,500m reverse circulation drilling program completed at the Wollogorang Project, Northern Territory in late 2022

• Drilling was fully funded by project partner, OZ Minerals (ASX: OZL), under an earn-in and JV agreement

• The onset of the wet season suspended drilling operations until the next dry season (May 2023)

• Of the ~50% targets tested, no significant copper mineralisation was encountered

• Prospective host rocks were intersected with selective assays reporting total organic carbon (TOC) content exceeding the important 1% TOC threshold to qualify as a potential “trap rock”

• OZL has until 13 March 2023 to elect to earn-in to a 51% interest by committing to spend a further $3m and paying Resolution $300,000 cash upfront or withdraw with no earned interest

• The results of the 2022 program will be used to improve the targeting for future drill programs

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Figure 1. Wollogorang Project; 2022 completed RC holes (green), planned RC holes (blue) and historical drill holes (black).

CAPITAL STRUCTURE Ordinary Shares Issued 1,080 M Options and rights Listed options 74 M @ 12c Listed options 625 M @ 1.5c Unlisted options 79 M @ 3c Unlisted performance rights 41 M

Last Capital Raise Oct-22 - Placement $1.0M @ 1.0c

Level 4, 29 King William Street Adelaide SA 5000 www.resolutionminerals.com

BOARD

Duncan Chessell - Chair Dr Paul Kitto - Technical Director Mark Holcombe - Exec Director Jarek Kopias - Co Sec, CFO

ASX RELEASE

Resolution Minerals Ltd ( RML or Company ) (ASX: RML ) has received assays testing approximately half of the Cu-Co-Pb-Zn-Ag targets, from 21 drill holes totalling 3,152m of drilling, of a planned 6,500m reverse circulation (“RC”) drilling program at the Wollogorang Project in the Northern Territory ( Figure 1 ). The Company targeted sediment-hosted copper, cobalt and other base metals as part of RML’s search for new energy metals.

Drilling was funded by OZ Minerals as part of their Initial-Period commitments as outlined in the earn-in and joint venture agreement between the two companies (ASX Announcement 24/8/2021).

==> picture [504 x 171] intentionally omitted <==

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RC Drill Rig, Wollogorang Project, 2022
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Wollogorang Results

Only 3,152m of a planned 6,500m of drilling was completed before the onset of the wet season, with approximately 50% of the targets remaining untested ( Figure 1 ). Sampling at 3m composites was completed, with selective total organic carbon (TOC) samples taken to validate reductive properties of the host rock.

Organic carbon analysis was completed on forty-five siltstone samples to confirm the presence of organic carbonaceous material. The average TOC value was 1.3%, with a maximum value of 3.5% TOC returned from the forty-five samples submitted. This is highly significant, given an “organic carbon content of 1% is the minimum amount of organic matter required in reduced stratigraphy for an effective chemical gradient along which metal may commence precipitation ” (Jarrett et al, 2020).

Although no significant multi-element results were reported (all results <0.2% Cu, <0.3% Zn, <0.3% Pb and <10ppm Ag), confirmation of the right host rocks is very positive. Exploration implications have been derived for the remaining target areas, to be followed up post wet season, pending OZL’s decision to complete the planned second half of the drill targets and progress to the next stage of the earn-in agreement.

Authorised for release by the Board of Resolution Minerals Ltd

For further information, please contact Julian Harvey

Julian Harvey Investor Communications Resolution Minerals Ltd M: +61 404 897 584 j.harvey@resolutionminerals.com

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ASX RELEASE

Competent Person Statement

The information in this report related to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on data compiled by Ms Christine Lawley, a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM) and Member and a Registered Professional Geoscientist (RPGEO) in field of Mineral Exploration with the Australian Institute of Geoscientists (MAIG). Ms Christine Lawley 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. Ms Christine Lawley consents to the inclusion in the report of the matters based on her information in the form in which it 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 recently been released under JORC 2012 by the Company as “Stanton Resource Upgrade Increases Contained Cobalt” 9 April 2018. The Company is not aware of any new information or data that materially affects the information included in this announcement and all material assumptions and technical parameters underpinning the Mineral Resource continue to apply and have not materially changed. Stanton Cobalt Deposit as defined in ASX Release 9 April 2018 MRE (Mineral Resource Estimate) - 0.9 Mt @ 0.13% Co, 0.06 % Ni, 0.12% Cu.

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Hole ID	Easting	Northing	SRTM RL (m)	Azi	Dip	EOH Depth (m)	Cu ppm	Zn ppm	Pb ppm	Ag ppm
22WLG001	792739	8144647	58	0	-90	138	NSI	NSI	NSI	NSI
22WLG002	793410	8144186	56	0	-90	120	NSI	NSI	NSI	NSI
22WLG003	793450	8144254	56	0	-90	108	NSI	NSI	NSI	NSI
22WLG004	800325	8141329	42	0	-90	51	NSI	NSI	NSI	NSI
22WLG005	799962	8140780	43	0	-90	126	NSI	NSI	NSI	NSI
22WLG006	800787	8141550	39	0	-90	126	NSI	NSI	NSI	NSI
22WLG007	817737	8121790	38	0	-90	150	NSI	NSI	NSI	NSI
22WLG008	817729	8120491	39	0	-90	180	NSI	NSI	NSI	NSI
22WLG009	808718	8127554	52	0	-90	204	NSI	NSI	NSI	NSI
22WLG010	818112	8120295	39	0	-90	150	NSI	NSI	NSI	NSI
22WLG011	811756	8127853	50	0	-90	150	NSI	NSI	NSI	NSI
22WLG012	818501	8120927	37	0	-90	54	NSI	NSI	NSI	NSI
22WLG013	811737	8128329	48	0	-90	258	NSI	NSI	NSI	NSI
22WLG014	818657	8120054	38	0	-90	120	NSI	NSI	NSI	NSI
22WLG015	817726	8120288	40	0	-90	120	NSI	NSI	NSI	NSI
22WLG016	810922	8128819	46	0	-90	174	NSI	NSI	NSI	NSI
22WLG017	817733	8121115	38	0	-60	102	NSI	NSI	NSI	NSI
22WLG018	814724	8119836	41	0	-90	210	NSI	NSI	NSI	NSI
22WLG019	815256	8120454	42	165	-60	162	NSI	NSI	NSI	NSI
22WLG020	815251	8119534	41	180	-70	198	NSI	NSI	NSI	NSI
22WLG021	797707	8113508	155	0	-90	240	NSI	NSI	NSI	NSI

Notes for Table 1a and 1b

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

2. Coordinates are in MGA94, Zone 53

3. Drilling was conducted with 6m long drill rods intervals are rounded to one decimal place.

4. Elevation and Hole Depth are in metres

5. Azimuth is in Degrees Grid North

6. Dip is in degrees

7. All drilling is 5.5" diameter RC chip drilling, all of hole was sampled

8. Significant results are shown for intersects >0.2% Cu, >0.3% Zn, >0.3% Pb and > 10ppm Ag with no more than 3m of internal dilution. Individual organic carbon samples are shown for composite samples > 1%.

9. NSI = No Significant Interval

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ASX RELEASE

Table 1b: RML drill collar location and total organic carbon significant intervals for the Wollogorang Project, Northern Territory, Australia.

Hole ID	Sample ID	From (m)	To (m)	Interval (m)	Total Organic Carbon %
22WLG013	WLG2921	100	104	4	1.6
22WLG013	WLG2922	104	106	2	1.0
22WLG013	WLG2923	106	108	2	1.2
22WLG013	WLG2927	116	119	3	3.0
22WLG013	WLG2928	119	122	3	3.1
22WLG013	WLG2929	122	125	3	2.9
22WLG013	WLG2930	125	127	2	1.2
22WLG013	WLG2931	127	128	1	1.0
22WLG020	WLG2935	125	127	2	1.4
22WLG020	WLG2936	127	131	4	1.0
22WLG020	WLG2937	131	134	3	1.0
22WLG020	WLG2940	143	146	3	2.6
22WLG020	WLG2941	146	149	3	3.1
22WLG020	WLG2942	149	152	3	3.5
22WLG020	WLG2943	152	155	3	1.1
22WLG012	WLG2948	37	38	1	3.0
22WLG012	WLG2949	41	42	1	2.9
22WLG012	WLG2950	42	43	1	2.6
22WLG008	WLG2951	38	39	1	1.0
22WLG009	WLG2955	133	134	1	1.2
22WLG021	WLG2959	118	123	5	1.2
22WLG021	WLG2960	123	127	4	1.2
22WLG021	WLG2961	129	131	2	1.1
22WLG021	WLG2962	135	138	3	1.9
22WLG021	WLG2963	138	142	4	2.9
22WLG008	WLG2997	39	40	1	1.0

Note: Total organic carbon samples exceeding 2% are in bold. See table 1a for hole location, dip and azimuth.

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ASX RELEASE

Appendix 2. The following tables are provided to ensure compliance with the JORC Code (2012) requirements for the reporting of the exploration results for the Wollogorang Project, Northern Territory, Australia. Section 1 Sampling Techniques and Data

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

Criteria	JORC Code explanation	Commentary	Commentary
Sampling	• Nature and quality of sampling (e.g., cut	•	Sampling was undertaken using
techniques	channels, random chips, or specific		standard industry practices and a
	specialised industry standard measurement		company standard operating
	tools appropriate to the minerals under		procedure to ensure consistency
	investigation, such as down hole gamma		of work practices between staff.
	sondes, or handheld XRF instruments, etc.).	•	RC chip sample intervals were set
	These examples should not be taken as		at 3m (1/2 rod length) and
	limiting the broad meaning of sampling.		collected directly from the rig
	• Include reference to measures taken to		cyclone (with cone splitter) through
	ensure sample representivity and the		sample chutes.
	appropriate calibration of any measurement	•	Individual sample target weight
	tools or systems used.		was 2-3kg to ensure total
	• Aspects of the determination of mineralisation		preparation at the laboratory
	that are Material to the Public Report.		pulverisation stage to produce
	• In cases where ‘industry standard’ work has		0.25gram for multi-acid ICP-MS
	been done this would be relatively simple		analysis. The sample size is
	(e.g., ‘reverse circulation drilling was used to		deemed appropriate for the grain
	obtain 1 m samples from which 3 kg was		size of the material being sampled.
	pulverised to produce a 30 g charge for fire	•	QAQC samples (standards, blanks
	assay’). In other cases, more explanation may		and duplicates) were inserted into
	be required, such as where there is coarse Au		the sequences following industry
	that has inherent sampling problems. Unusual		best practice, the details of which
	commodities or mineralisation types (e.g.		are set out below in sub-sampling
	submarine nodules) may warrant disclosure		techniques section.
	of detailed information.
Drilling	• Drill type (e.g. core, reverse circulation, open-	•	Reverse Circulation with a 5.5"
techniques	hole hammer, rotary air blast, auger, Bangka,		hole diameter and a face sampling
	sonic, etc.) and details (e.g. core diameter,		“button” bit was used.
	triple or standard tube, depth of diamond tails,	•	Downhole surveys were completed
	face-sampling bit or other type, whether core		using a Champ gyro or Reflex Ez-
	is oriented and if so, by what method, etc.).		shot.
		•	18 holes were drilled vertically, two
			with a -60° dip and one with a -70°
			dip.

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ASX RELEASE

Criteria	JORC Code explanation	Commentary	Commentary
Drill sample	• Method of recording and assessing core and	•	Chips were logged and sampled
recovery	chip sample recoveries and results assessed.		on site at Wollogorang Project for
	• Measures taken to maximise sample recovery		the full duration of the program by
	and ensure representative nature of the		qualified geologists using the
	samples.		drillers recorded depth against the
	• Whether a relationship exists between sample		number of 3m samples recovered.
	recovery and grade and whether sample bias		No significant sample loss or
	may have occurred due to preferential		contamination was observed.
	loss/gain of fine/coarse material.	•	Sample quality and recovery
			observations were undertaken by
			trained field staff at the time of
			drilling for every sample collected.
		•	Cyclone was monitored and
			regularly cleaned before and
			during drillholes to prevent
			contamination, particularly where
			samples were damp or wet.
		•	No relationship between sample
			recovery and gradeisidentified.
Logging	• Whether core and chip samples have been	•	Chip logging was carried out by
	geologically and geotechnically logged to a		company and contracted qualified
	level of detail to support appropriate Mineral		geologists using a project specific
	Resource estimation, mining studies and		logging procedure. Data recorded
	metallurgical studies.		includes, but is not limited to,
	• Whether logging is qualitative or quantitative		lithology, alteration and sulphide
	in nature. Core (or costean, channel, etc.)		mineralogy. This was supervised
	photography.		by Resolution’s Exploration
	• The total length and percentage of the		Manager, who is familiar with the
	relevant intersections logged.		mineralisation style and nature.
			Logging codes were set up
			specifically for the project.
		•	Drill technique was RC, therefore
			can be used to support appropriate
			aspects of a Mineral Resource
			estimation, mining studies and
			metallurgical studies.
		•	Drill logging is qualitative by
			geological features.
		•	All drilled intervals (100%) are
			logged and recorded as standard
			operating practice.

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ASX RELEASE

Criteria	JORC Code explanation	Commentary	Commentary
Sub-	• If core, whether cut or sawn and whether	•	Drill chips intervals were collected
sampling	quarter, half or all core taken.		from a cyclone cone splitter (dry),
techniques	• If non-core, whether riffled, tube sampled,		then submitted for analysis at the
and sample	rotary split, etc. and whether sampled wet or		ALS laboratory in Mount Isa.
preparation	dry.	•	100% of the samples were
	• For all sample types, the nature, quality and		submitted for assay.
	appropriateness of the sample preparation	•	A 20% sample split is considered
	technique.		representative and appropriate for
	• Quality control procedures adopted for all		exploration stage. Appropriate
	sub-sampling stages to maximise		medium base metal certified
	representivity of samples.		reference material (CRM’s) was
	• Measures taken to ensure that the sampling		used on a 1:50 basis (2%). Blanks
	is representative of the in situ material		were inserted on a 1:50 basis
	collected, including for instance results for		(2%). Duplicate samples were
	field duplicate/second-half sampling.		taken from the cyclone sample
	• Whether sample sizes are appropriate to the grain size of the material being sampled.		chute 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 ALS Mount Isa with up to 250g
			of sample pulverised to 85%
			passing 75µm (PUL-23).
		•	Samples were split using a riffle
			splitter and subsequently analysed
			at ALS laboratory in Brisbane,
			Queensland (multielement and
			non-organic carbon).
		•	(ME-MS61)48 elements were
			analysed by four acid digestion
			with an ICP-MS finish using a
			0.25gram sample weight. Multi-
			element analysis was completed
			on all 3m sample intervals.
		•	(C-IR17) Non-carbonate carbon
			(a.k.a. TOC) was analysed using a
			0.1gram nominal sample weight
			treated with HCl leach (50%), then
			analysed by induction furnace /
			infrared spectroscopy. Non-
			organic carbon analysis was
			completed on selective samples
			only.
		•	Sample size as defined above is
			considered appropriate to the
			materialsampled.

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ASX RELEASE

Criteria	JORC Code explanation	Commentary	Commentary
Quality of	• The nature, quality and appropriateness of	•	The sampling digest methods are
assay data	the assaying and laboratory procedures used		considered appropriate and
and	and whether the technique is considered		industry standard. ME-MS61 with
laboratory	partial or total.		ICP-MS finish was applied to all
tests	• For geophysical tools, spectrometers,		samples. C-IR17 (C organic) was
	handheld XRF instruments, etc., the		applied to selective samples.
	parameters used in determining the analysis	•	No use of portal XRF is reported.
	including instrument make and model,	•	QAQC procedures included the
	reading times, calibrations factors applied and		insertion of appropriate medium
	their derivation, etc.		and low base metal Certified
	• Nature of quality control procedures adopted		Reference Materials (CRM) on a
	(e.g. standards, blanks, duplicates, external		1:50 basis (2%), Blank material on
	laboratory checks) and whether acceptable		a 1:50 basis (2%) and duplicates
	levels of accuracy (i.e. lack of bias) and		on a 1:50 basis (2%) for a total
	precision have been established.		insertion rate of 6%, which is
			appropriate to the exploration
			stage.
		•	QC checks are conducted after
			results are received utilising
			Company QC and supplied
			internal laboratory QC information.
		•	Laboratories introduce QAQC
			samples and complete duplicate
			checkassays onaroutine basis.
Verification	• The verification of significant intersections by	•	At least two company geologists
of sampling	either independent or alternative company		have separately reviewed the
and	personnel.		physical chips and assay data.
assaying	• The use of twinned holes.	•	Drilling, logging and sampling data
	• Documentation of primary data, data entry		and observations were digitally
	procedures, data verification, data storage		entered and stored following
	(physical and electronic) protocols.		company SOPs and using
	• Discuss any adjustment to assay data.		specifically designed document
			templates. Documents were
			backed up electronically and
			underwent QC checks. 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		grid (MGA94 Zone 53) and were
	surveys), trenches, mine workings and other		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.

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ASX RELEASE

Criteria	JORC Code explanation	Commentary	Commentary
Data spacing	• Data spacing for reporting of Exploration	•	Data spacing is insufficient to
and	Results.		establish the degree of geological
distribution	• Whether the data spacing, and distribution is		and grade continuity required for a
	sufficient to establish the degree of geological		Mineral Resource estimation.
	and grade continuity appropriate for the	•	Sample compositing has not been
	Mineral Resource and Ore Reserve		applied to these exploration
	estimation procedure(s) and classifications		results.
	applied.
	• Whether sample compositing has been
	_applied. _
Orientation	• Whether the orientation of sampling achieves	•	The relationship between the
of data in	unbiased sampling of possible structures and		drilling orientation and the
relation to	the extent to which this is known, considering		orientation of key mineralised
geological	the deposit type.		structures has not been confirmed.
structure	• If the relationship between the drilling
	orientation and the orientation of key
	mineralised structures is considered to have
	introduced a sampling bias, this should be
	assessed and reported if material.
Sample	• The measures taken to ensure sample	•	A secure chain of custody protocol
security	security.		has been established with the site
			geologist transporting samples
			from site, directly to the ALS
			laboratoryin MountIsa.
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	JORC Code explanation	Commentary	Commentary
Mineral	• Type, reference name/number, location and	•	Resolution Minerals Ltd owns a
tenement	ownership including agreements or material		100% interest in the Wollogorang
and land tenure	issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites,		Project via its wholly owned subsidiary Mangrove Resources Pty Ltd. Tenements Numbers
status	wilderness or national park and environmental		EL31546, EL30496, EL30590,
	settings.		EL31548, EL31272, EL31549 and
	• The security of the tenure held at the time of		EL31550.
	reporting along with any known impediments	•	Resolution entered into an earn-in
	to obtaining a licence to operate in the area.		and joint venture agreement with
			OZ Minerals (ASX: RML
			Announcement 24/8/2021).
		•	Drilling was funded by OZ Minerals
			as part of their first-year
			commitments.
		•	OZL, having now met the Initial
			Period expenditure and upon

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ASX RELEASE

Criteria	JORC Code explanation	Commentary	Commentary
			receipt of the 2022 results have
			until 13 March 2023 to elect to
			commence Stage 1, to earn-in to a
			51% interest, by spending a further
			$3m and paying Resolution
			$300,000 cash.
		•	The Wollogorang Project consists
			of 3,803km2and falls within
			Wollogorang, Calvert Hills,
			Pungalina and Seven Emus
			Stations, Northern Territory.
		•	The Wollogorang Project is
			centred approximately 500km NE
			of Tennant Creek.
		•	The tenure is in good standing and
			noknown impediments exist.
Exploration	• Acknowledgment and appraisal of exploration	•	Previous exploration work
done by other parties	by other parties.		includes; Surface Geochemical Sampling: stream sediments, soils & rock chips. Airborne
			Geophysics: GeoTEM,
			Radiometric & Magnetics. Ground
			Geophysics: Magnetics, EM, GPR,
			IP. Drilling: RAB, Air-Core, RC and
			diamond core drilling. The
			previous work is indicated on
			maps and diagrams in the body of
			the document when relevant.
		•	Most historical exploration in the
			area was initially centered around
			diamonds, with a more recent
			focus on base metals, phosphate
			and uranium.
		•	Much of the previous work was
			undertaken by CRA Exploration
			(RIO) in the 1990’s for base
			metals. Uranium exploration began
			in 1980’s by ANZEX at the Selby
			and Karns Prospects, followed by
			Toro Energy in the 2000’s.
			Exploration In 2003 exploration for
			diamonds by Legend International
			at the Selby Prospect was
			undertaken. More recently
			Northern Cobalt Ltd (former name
			of Resolution Minerals) undertook
			exploration for Cobalt in 2017-18
			on and around the Stanton Cobalt
			Deposit (discovered by CRA in
			1990’s) located on EL31272.
			During themostrecent phase of

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ASX RELEASE

Criteria	JORC Code explanation	Commentary	Commentary
			exploration (2017-18) copper
			mineralisation was observed at the
			Gregjo and Running Creek
			Prospects and the Stanton Cobalt
			Deposit was revisited and brought
			up to JORC 2012 standard
			(announced “Stanton Resource
			Upgrade Increases Contained
			Cobalt” 9 April 2018 as Northern
			Cobalt Ltd).
Geology	• Deposit type, geological setting and style of	•	Resolution Minerals Ltd is primarily
	mineralisation.		exploring for sediment-hosted
			stratiform copper mineralisation.
		•	The local geology is dominated by
			the Gold Creek Volcanics of the
			Tawallah Group. This formation is
			a series of basaltic lavas and
			shallow intrusives, interlayered
			with thin oxidised sandstone,
			carbonate and siltstone units. It is
			conformably underlain by reduced
			sedimentary facies of the
			Wollogorang Formation, which
			includes dolostones, sandstones
			and carbonaceous shales. A
			regional dolerite sill, the
			Settlement Creek Dolerite, was
			emplaced synchronous with
			effusion of the Gold Creek
			Volcanics. The Wollogorang
			Formation and Settlement Creek
			Dolerite do not outcrop on the
			Stanton prospect area or RML’s
			tenements, but are however
			intersected in a number of drill
			holes onthe tenement.
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 intersects 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

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ASX RELEASE

Criteria	JORC Code explanation	Commentary	Commentary
	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 0.2%
	Material and should be stated.		Cu, 0.3% Zn and 0.3% Pb and
	• Where aggregate intercepts incorporate short		10g/t Ag (10ppm Ag) was applied
	lengths of high-grade results and longer		to determine significant
	lengths of low-grade results, the procedure		intersections with a maximum
	used for such aggregation should be stated		dilution of 3m.
	and some typical examples of such	•	No top cut has been applied.
	aggregations should be shown in detail.	•	No metal equivalents have been
	• The assumptions used for any reporting of		used.
	metal equivalent values should be clearly
	_stated. _
Relationship	• These relationships are particularly important	•	Down hole length has been
between	in the reporting of Exploration Results.		reported, as true width is not
mineralisati on widths and	• If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. • If it is not known and only the down hole	•	known, as insufficient work has been undertaken to understand the true width of intervals. “Down hole length, true width not
intercept	lengths are reported, there should be a clear		known” is stated in the notes to
lengths	statement to this effect (e.g. ‘down hole _length, true width not known’). _		Table 1a.
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	•	There are no significant intervals,
	limited to a plan view of drill hole collar		so a drill section has not been
	locations and appropriate sectional views.		provided.
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 and surface samples has
	avoid misleading reporting of Exploration		occurred in historical reports and
	Results.		reportedwhenappropriatehere.
Other	• Other exploration data, if meaningful and	•	Resolution Minerals flew a 2000
substantive	material, should be reported including (but not		line km VTEM survey from which
exploration data	limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and		the drill targets relating to this release were derived. Previous explorers drilling on the
	method of treatment; metallurgical test		Wollogorang Project did not test
	results; bulk density, groundwater,		the VTEM conductors identified
	geotechnical and rock characteristics;		(RML ASX Announcement
	potential deleterious or contaminating		9/7/2021)
	substances.	•	VTEM (Versatile Time-Domain
			Electromagnetic) helicopter borne
			system developed byGeotech Ltd

13

ASX RELEASE

Criteria	JORC Code explanation	Commentary	Commentary
			with a 35 m diameter transmitter
			loop. The VTEM Max can generate
			up to 866,000 NIA peak dipole
			moment (230Amps). The EM
			receiver provides both dB/dt and
			B-field measurements for Z, X and
			optional Y axis. The revised data
			acquisition system (full waveform)
			provides a wider range of time
			gate windows (18 to 10 msec).
		•	VTEM data was reprocessed by
			Intrepid Geophysics to perform
			2.5D inversions on the survey
			data. Conductivity was modelled
			while removing topographic
			artefacts and non-geological
			conductors. The reprocessed data
			was used to refine conductive drill
			targets.
Further	• The nature and scale of planned further work	•	A range of exploration techniques
work	(e.g. tests for lateral extensions or depth		are being considered to progress
	extensions or large-scale step-out drilling).		exploration including drilling.
	• Diagrams clearly highlighting the areas of	•	Only half of the VTEM anomalies
	possible extensions, including the main		were tested due to the onset of wet
	geological interpretations and future drilling		season.
	areas, provided this information is not	•	Refer to figures in the body of this
	commercially sensitive.		report.

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