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RESOLUTION MINERALS LTD Capital/Financing Update 2025

Apr 6, 2025

65717_rns_2025-04-06_0d9535aa-9e4f-4f9f-8d00-6b8f8677f5aa.pdf

Capital/Financing Update

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7 April 2025

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PLACEMENT CLEANSING NOTICE UNDER SECTION 708A(5)(E) OF THE CORPORATIONS ACT - UPDATED

Resolution Minerals Ltd ACN 617 789 732 ( Company ) (ASX:RML) gives this notice pursuant to section 708A(5)(e) of the Corporations Act 2001 (Cth) ( Corporations Act ).

On 1 April 2025 the Company issued 909,091 fully paid ordinary shares in the Company ( Shares ) pursuant to a placement announced on 13 March 2025.

The Company advises that:

  • (1) the Company issued the Shares without disclosure to investors under Part 6D.2 of the Corporations Act;

  • (2) as at the date of this notice, the Company has complied with:

  • (a) the provisions of Chapter 2M of the Corporations Act as they apply to the Company; and

  • (b) sections 674 and 674A of the Corporations Act; and

  • (3) as at the date of this notice, there is no “excluded information” of the type referred to in sections 708A(7) and 708A(8) of the Corporations Act.

The Company notes that a cleansing notice was previously issued by the Company on Monday 1 April 2025 in relation to the above Share issue ( Original Cleansing Notice ).

On 3 April 2025 the Company subsequently released an announcement entitled “Antimony, Gold and Copper Mineralisation at Drake East” ( Subsequent Public Announcement ).

To the extent that the Original Cleansing Notice can be said to be defective as a result of the Subsequent Public Announcement, the Company draws investors attention to the Subsequent Public Announcement, which is attached to his announcement for convenience.

Authorised by the Board of the Resolution Minerals Ltd

For further information please contact:

Jarek Kopias

Company Secretary Resolution Minerals Ltd P: +61 8 6118 7110 E: [email protected]

W: www.resolutionminerals.com

Level 21, 91 King William Street Adelaide SA 5000 www.resolutionminerals.com

3 April 2025

791 ANTIMONY, GOLD AND COPPER MINERALISATION MINE WORKINGS IDENTIFIED AT DRAKE EAST IN FINAL LIDAR INTERPRETATION

HIGHLIGHTS

  • RML has received a final report for a High-quality Light Detection and Ranging (“ LiDAR ”) interpretation conducted at the Company’s Drake East Antimony-Gold Project. A total of 791 mine workings, including 742 pits, 33 shafts and 16 adits, have been interpreted across the Drake East Project area.

  • The vast majority of these mine workings correspond to the seventy historical [mostly] gold and antimony prospects recorded at Drake East. CAUTIONARY NOTE: The gold and antimony prospects are historical and are not 2012 JORC Code compliant. The Competent Person has not done sufficient work to classify these occurrences as mineral resources in accordance with the 2012 JORC Code. There are no guarantees that further tests would elevate these occurrences to 2012 JORC Code compliancy.

  • The antimony / antimony-gold mineralisation is classified as antimony-quartz, antimony-goldquartz, and antimony-gold-tungsten-quartz vein-type.

  • The Hedley’s Antimony and Hensen Hills Antimony Prospect areas are believed part of a large NE-SW orientated antimony-gold mineral field that also includes the Lunatic Antimony Field which occurs on Legacy Minerals’ Drake Project (ASX: LGM).

  • The LGM Lunatic Antimony Field hosts vein-hosted mineralisation with peak grades of 30% antimony and 85g/t gold. Refer to LGM Announcement dated 26 February 2025.

  • As previously announced by RML (ASX announcement 10 March and 26 March 2025) Drake East hosts high-grade antimony, high-grade gold, and high-grade silver mineralisation, including peak values of 5.72% Sb, 60.9 g/t Au and 214 g/t Ag from sampling of various historical workings.

  • LiDAR interpretations have also identified a concentration of placer gold mine workings covering an estimated area of 135,500 square metres in the Lanikai Alluvial Prospect area.

  • RML to expedite fieldwork including geological mapping and geochemical rock chip sampling.

Antimony-gold focused exploration company Resolution Minerals Ltd (“ RML ” or the “ Company ”) ( ASX: RML ) is pleased to announce that it has received the final LiDAR data reprocessing and interpretation report (“ Report ”) for its Drake East Antimony-Gold Project (“ Drake East ” of the “ Project ”), located in NSW, Australia (subject of previous ASX announcements of 10 March, 17 March, 25 March and 26 March 2025). The Report was received from LiDAR data reprocessing and interpretation specialist service provider GeoCloud Analytics (“ GeoCloud ”).

Seven hundred and ninety-one workings were identified from the LiDAR data by GeoCloud. The final report was reviewed by the principal geologist of Riviere Minerals Pty. Ltd. (“ Riviere ”), Mr Ross Brown. Mr Brown has adequate experience in geomorphology to qualify as Competent Person regarding this exploration activity. These workings by and large coincide with the 70 antimony and gold prospects known to occur within RML’s Drake East Project as recorded in the NSW Geological Survey MinView online data portal (“ MinView ”) (Table 1) (Figure 1). The antimony and gold prospects occurring at Drake East were the subject of four prior ASX announcements made by the company, dated 10 March, 17 March, 25 March and 26 March 2025.

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3 April 2025

Prospect Name Prospect Cluster Area Commodity Commodity Style of
Mineralisation
Location GDA94 Coordinates Location GDA94 Coordinates
Principal Secondary Northing Easting
GullyProspect Hedleys-GullyProspect Sb,Au Vein -28.821272 152.440030
Cross River Hedleys-GullyProspect Sb,Au Vein -28.819490 152.445574
Hedleys Reef Hedleys-GullyProspect Sb,Au Vein -28.810896 152.441008
Bucklands Reef Hedleys-GullyProspect Au Vein -28.815541 152.440221
Urquhart & Coprospect Hedleys-GullyProspect Au Vein -28.813167 152.444589
Campbells 2 Hansen Hills-Hidden Treasure Au Vein -28.810945 152.452793
Hidden Treasure Hansen Hills-Hidden Treasure Au As Vein -28.809872 152.455572
Four Mile Prospect Au Placer(Holocene) -28.812383 152.474102
Emu Creek Prospect Au Placer(Holocene) -28.816931 152.483206
Quail Reef Hansen Hills-Hidden Treasure Au,Sb Vein -28.803744 152.457961
Septic Prospect Hansen Hills-Hidden Treasure Au,Sb Vein -28.805090 152.455904
Fordhams Reef Hansen Hills-Hidden Treasure Au,Sb Pb,As Vein -28.801484 152.456948
Isolated Prospect Hansen Hills-Hidden Treasure Au,Sb Vein -28.801505 152.462065
Hansen & Hills shaft Hansen Hills-Hidden Treasure Sb Vein -28.800581 152.456946
Withers deposit Hansen Hills-Hidden Treasure Sb Vein -28.800173 152.456493
Hansen & Hills deposit Hansen Hills-Hidden Treasure Sb,Au Cu,Zn Vein -28.799495 152.456241
Creek Prospect Hansen Hills-Hidden Treasure Au Placer(Holocene) -28.795884 152.455952
M' Ridge Prospect Au,Ag Cu,Zn Disseminated -28.798893 152.486670
Martin & Richardson Glasby& Co Au Placer(Holocene) -28.785743 152.470547
Brosh & WickingReef Glasby& Co Au Vein -28.785123 152.473624
Glasby& Co Prspect Glasby& Co Sb Vein -28.779000 152.477547
Nobles Gold Mine Reliance Mine-Rileys Alluvials Au Vein -28.777903 152.429402
Lincolnshire reef Reliance Mine-Rileys Alluvials Au Vein -28.786245 152.438373
Grahamsprospect Reliance Mine-Rileys Alluvials Au Placer(Holocene) -28.786449 152.444116
Shaws Prospect Reliance Mine-Rileys Alluvials Au Vein -28.784460 152.443409
Thurgates Workings Reliance Mine-Rileys Alluvials Au Placer(Holocene) -28.785937 152.451342
Stockyard Prospect Reliance Mine-Rileys Alluvials Au Vein -28.782892 152.457454
PrettyGullyAlluvium Reliance Mine-Rileys Alluvials Au Placer(Holocene) -28.781623 152.456026
Rileys Alluvials 1 Reliance Mine-Rileys Alluvials Au Placer(Holocene) -28.781965 152.451311
The Blue Bag Reliance Mine-Rileys Alluvials Au Vein -28.781563 152.441324
Reliance Mine Reliance Mine-Rileys Alluvials Au Ag,Pb Vein -28.781021 152.441327
Rileys Alluvials 2 Reliance Mine-Rileys Alluvials Au Placer(Holocene) -28.779758 152.441488
Rileys Lode Reliance Mine-Rileys Alluvials Sb,Au Vein -28.779668 152.441386
Spur Prospec 1 Reliance Mine-Rileys Alluvials Au Vein -28.778412 152.443339
Frenchmans Lode Reliance Mine-Rileys Alluvials Au Vein -28.776329 152.441711
Frenchmans Shaft Reliance Mine-Rileys Alluvials Au Placer(Holocene) -28.775264 152.445808
Pinnacles Mine Reliance Mine-Rileys Alluvials Au Placer(Holocene) -28.776642 152.451948
Lost Shaft Reliance Mine-Rileys Alluvials Au Placer(Holocene) -28.775105 152.451136
DairyGullyAlluvials Reliance Mine-Rileys Alluvials Au Placer(Holocene) -28.769380 152.441742
Unnamed Prospect Reliance Mine-Rileys Alluvials Au Placer(Holocene) -28.769019 152.441955
Butlers Alluvials Reliance Mine-Rileys Alluvials Au Placer(Holocene) -28.768047 152.446871
Lanikai Adit Ottis Mine-Lankai Alluvials Au Placer(Cenozoic) -28.744279 152.439622
Alluvial DeepLead Ottis Mine-Lankai Alluvials Au Placer(Cenozoic) -28.737520 152.420821
Paddys Hill Adit Ottis Mine-Lankai Alluvials Au Placer(Cenozoic) -28.737262 152.423684
Kings Alluvials Ottis Mine-Lankai Alluvials Au Placer(Holocene) -28.719079 152.393886
Unexpected Alluvials Ottis Mine-Lankai Alluvials Au Placer(Holocene) -28.719447 152.405511
Eassons Lode Ottis Mine-Lankai Alluvials Au Vein -28.726931 152.414326
Yellow Creek Alluvials Ottis Mine-Lankai Alluvials Au Placer(Holocene) -28.729992 152.412255
Hillside Prospect 2 Ottis Mine-Lankai Alluvials Au Vein -28.725162 152.422528
Lanikai West GullyAlluvials Ottis Mine-Lankai Alluvials Au Placer(Holocene) -28.725525 152.423038
Lanikai East GullyAlluvials Ottis Mine-Lankai Alluvials Au Placer(Holocene) -28.728693 152.425062
Plantation Prospect Ottis Mine-Lankai Alluvials Au Placer(Holocene) -28.723150 152.427044
Hoffmans Workings Ottis Mine-Lankai Alluvials Au Vein -28.725548 152.428458
Gays Lode Ottis Mine-Lankai Alluvials Sb W Vein -28.725786 152.431433
Ottis Mine Ottis Mine-Lankai Alluvials Sb Vein -28.724668 152.433788
Clarence River alluvials Ottis Mine-Lankai Alluvials Au Placer(Holocene) -28.725397 152.435422
Hoffmans Folly Ottis Mine-Lankai Alluvials Au Vein -28.728283 152.434792
Petticoat Alluvials Ottis Mine-Lankai Alluvials Au Placer(Quaternary) -28.730988 152.434266
Goulter & Harrisonsprospect Ottis Mine-Lankai Alluvials Au,Ag,Cu,Pb,Zn Vein -28.728295 152.437864
MolyProspect Ottis Mine-Lankai Alluvials Mo Vein -28.729572 152.440929
GullyAlluvials Pine Gully-Mosquito Creek Antimony Au Placer(Holocene) -28.709285 152.424656
Mundines Prospect Pine Gully-Mosquito Creek Antimony Au Cu,Pb Vein -28.708776 152.432338
Mosquito Creek alluvials Pine Gully-Mosquito Creek Antimony Au Placer(Holocene) -28.703893 152.430323
Mosquito Creek Antimony Pine Gully-Mosquito Creek Antimony Sb,Au Vein -28.701193 152.432071
SteepGullyalluvials Pine Gully-Mosquito Creek Antimony Au Placer(Holocene) -28.701197 152.432890
Darkes Point occurrence Pine Gully-Mosquito Creek Antimony Au Vein -28.699400 152.434954
Pine GullyLodes South Pine Gully-Mosquito Creek Antimony Sb-Au As,Pb Vein -28.692628 152.434421
Pine GullyLodes North Pine Gully-Mosquito Creek Antimony Au Pb,As,Zn Vein -28.689461 152.432551
Beardmores Lead Pine Gully-Mosquito Creek Antimony Au Placer(Triassic) -28.691583 152.422200
DeepLead Gold Pine Gully-Mosquito Creek Antimony Au Placer(Cenozoic) -28.688874 152.421806

Table 1: Metal occurrences located within the Drake East Project area. All information is obtained from the NSW Geological Survey MinView online data portal. Please also refer to the figures provided in this announcement. CAUTIONARY NOTE : These minerals occurrences are of historical nature and are not 2012 JORC Code compliant. The Competent Person has not done sufficient work to classify these occurrences as mineral resources in accordance with the 2012 JORC Code. There are no guarantees that further tests would elevate these occurrences to 2012 JORC Code compliancy. CAUTIONARY NOTE: The elevations (height above sea level) for these mineral occurrences are not known.

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3 April 2025

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Figure 1: Combined LiDAR image and Satellite image of the Drake East Project area, showing topography, the location of the MinView historical metals occurrences and the GeoCloud interpreted mine workings. The five focus areas are highlighted (white box shapes). CAUTIONARY NOTE : The minerals occurrences shown in this figure are of historical nature and are not 2012 JORC Code compliant. The Competent Person has not done sufficient work to classify these occurrences as mineral resources in accordance with the 2012 JORC Code. There are no guarantees that further tests would elevate these occurrences to 2012 JORC Code compliancy.

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3 April 2025

Drake East Project Area LiDAR Results

The entire Project area hosts a total of 791 mine workings, including 742 prosecting pits, 33 shafts and 16 adits. These are spread over the 70 MinView antimony, gold, silver, copper and base metal prospects known to occur within RML’s Drake East Project (Table 1) (Figure 1).

There are also newly interpreted mine workings which do not correspond to the MinView prospects (Figure 1) indicating that there are mineral occurrences present that are not recorded in MinView.

Five areas have been recognised that have high concentrations (or “clusters”) of mine workings associated with the MinView prospects. These include:

  • Hedley’s - Gully Prospect Area

  • Hansen Hills - Hidden Treasure Area

  • Reliance Mine - Rileys Alluvials Area

  • Ottis Mine - Lanikai Alluvials Area

  • Pine Gully - Mosquito Creek Antimony Area

These are discussed in further detail below.

Hedley’s - Gully Prospect Area

The Hedley’s Reef – Gully Prospect Area hosts 90 interpreted mine workings, including 75 pits, nine shafts and six adits (Figure 3). The majority of these are associated with the Hedley’s Reef Antimony Prosect and the Bucklands Reef Gold Prospect.

The configuration of the mine workings indicates a strong linear control of gold-antimony mineralisation. This is consistent with the vein-style mineralisation known at the Buckland Reef gold prosect and the Hedley’s Reef antimony prospect. There are two vein orientations: NW-SE and NS.

Located in the southwestern part of the Project area, the Hedley’s Reef – Gully Prospect mine workings cluster is approximately 4km northeast of Legacy Minerals’ (“ Legacy ”) Lunatic Antimony Field (Figure 2 RIGHT). Legacy detailed rock chip sample assay results from the Lunatic Antimony Field in an ASX announcement dated 26 February 2025.

Figure 1 of Legacy’s announcement dated 26 February 2025, with the title “30% Antimony and 85g/t gold in Rock Chips at the Drake Project” is copied RIGHT, without modification. Directly relevant to RML’s Hedley’s Reef and Gully Prospect areas, there is a clear NW-SE to NS orientation of the gold and antimony veins comprising the Lunatic Antimony Field. Cautionary Note : Please refer to the Legacy 26 February 2025 Announcement for details of their exploration results.

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3 April 2025

RML believes that the antimony-gold mineralisation of Hedley’s Reef – Gully Prospect Area is part of the same, broader, antimony-gold mineralisation of the Lunatic Antimony Field (Figure 2). The style of mineralisation, host geology and the orientation of the veins are all similar.

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Figure 3: LiDAR image (right) with location geological location plans (left). The LiDAR image was produced by GeoCloud. The author has added trend lines and certain captions: Yellow dashed lines highlight the orientation of the mine working; CAUTIONARY NOTE : The inserts are from areas expanded from the primary plan. The coordinates (and north arrow) of the inserts are therefore constrained by the primary plan.

Hansen Hills - Hidden Treasure Area

The Hansen Hills - Hidden Treasure Area is located centrally in the southern part of the Project area. It is 2km NE of the Hedley’s - Gully Prospect area (discussed above), and approximately 6km northeast of Legacy Minerals’ Lunatic Antimony Field.

The Hansen Hills - Hidden Treasure Area hosts 112 mine workings including 109 pits, one shaft and two adits (Figure 4).

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3 April 2025

Like the Hedley’s Reef – Gully Prospect antimony prospects, the Hansen Hills - Hidden Treasure Area mine workings display a strong NW-SE and NS orientation, again, as would be expected in the case of vein-hosted Sb and Au mineralisation.

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Figure 4: LiDAR image (right) with location geological location plans (left). The LiDAR image was produced by GeoCloud. The author has added trend lines and certain captions: Yellow dashed lines highlight the orientation of the mine working. White dashed lines highlight interpreted lineation that is reflected in local drainage patterns. Drainage systems often reflect underlying linear geology (dykes, faults, joints, sheers, geological contacts) as a result of preferential erosional. CAUTIONARY NOTE : The inserts are from areas expanded from the primary plan. The coordinates (and north arrow) of the inserts are therefore constrained by the primary plan.

Like with the Hedley’s Reef – Gully Prospect Area, RML believes that the antimony-gold mineralisation of the Hansen Hills - Hidden Treasure Area, forms part of the same, broader, antimony-gold mineralisation of the Lunatic Antimony Field (Figure 2). The style of mineralisation is the same, the host geology is the same, and the orientation of the veins is the same.

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Reliance Mine - Rileys Alluvials Area

The Reliance Mine - Rileys Alluvials Area is located in the central part of the project area. It comprises several gold and antimony vein prospects and an extensive field of placer gold prospects. The total number of mine workings in the area is too numerous to count (owing to the intense concentration of alluvial diggings). In the Reliance Gold Mine area alone, there is a total of 75 mine workings, including 65 pits, eight shafts, two adits and 17 trenches (Figure 4).

Like the LiDAR mine workings of the antimony-gold prospects discussed above, the same mine workings orientation occurs in the Reliance Mine - Rileys Alluvials Area. The occurrence of widespread alluvial (placer) gold prospects introduces a less linear configuration of the mine workings (Figure 5). The distribution of such placer prospects is influenced by the present-day erosion of the known gold-bearing Carboniferous-aged Emu Creek Formation. The Emu Creek Formation occurs throughout the Project area.

To clarify, the spatial control of the mine workings of placer gold prospects is not related to the occurrence of antimony-gold veins but relates to the drainage system as seen in Figure 5.

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Figure 5: LiDAR image (right) with location geological location plans (left). The LiDAR image was produced by GeoCloud. The author has added trend lines and certain captions: Yellow dashed lines highlight the orientation of the mine working. Curved orange dashed lines highlight interpreted alluvial gold drainages. CAUTIONARY NOTE : The inserts are from areas expanded from the primary plan. The coordinates (and north arrow) of the inserts are therefore constrained by the primary plan.

The distribution of the placer gold mine workings is also useful in interpreting the possible occurrence of additional vein hosted gold mineralisation. The occurrence of place gold in first and second order creeks (Figure 5) strongly indicate that the source of [placer] gold is very localised.

The widespread nature of the alluvial mine workings in the Reliance Mine - Rileys Alluvials Area therefore strongly indicates the occurrence of significantly more mineralised veins than currently known.

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Ottis Mine - Lanikai Alluvial Area

The Ottis Mine – Lanikai Alluvial Area is located in the central northern part of the project area. It is very similar to the Reliance Mine - Rileys Alluvials Area in that it hosts a combination of gold and antimony-gold veins and several clusters of placer gold mine workings (Figure 6).

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Figure 6: LiDAR image (right) with location geological location plans (left). The LiDAR image was produced by GeoCloud. CAUTIONARY NOTE : The inserts are from areas expanded from the primary plan. The coordinates (and north arrow) of the inserts are therefore constrained by the primary plan.

It is not possible to calculate with certainty the total number of mine workings in the Ottis Mine – Lanikai Alluvial Area such is the intensity of the alluvial placer gold workings. Three sub-areas of the Ottis Mine – Lanikai Alluvial Area are presented in this announcement to illustrate the intense nature of past alluvial gold mining activity.

The Lanikai West Gully Alluvial and the Lanikai East Gully Alluvials (Figure 7) cover an area of 43,000 square metres. The Clarence River Alluvials (Figure 8) cover an area of 71,500 square metres. The Yellow Creek Alluvials (Figure 9) cover an area of 21,000 square metres. The three placer gold areas have a combined total area of 135,500 square metres. CAUTIONARY NOTE: The estimate of the area of mine workings is not a measure of the extent of placer gold mineralisation.

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Figure 7: LiDAR image produced by GeoCloud showing the Lanikai West Gully and East Gully Alluvial fields. The alluvial workings create a pimply appearance in LiDAR imagery (highlighted within the yellow circled areas). These placer fields occur within first and second order stream in-valley land surfaces of likely Holocene age (transparent blue arrows). Current drainage is eroding the Holocene in-valley land surfaces. Direct evidence for a local source of gold is the Hillside Prospect 2 gold occurrence which reported to be a vein deposit. CAUTIONARY NOTE : The Competent Person has not done sufficient work to verify whether the Hillside Prospect 2 Prospect is a vein-related gold occurrence.

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Figure 8: LiDAR image produced by GeoCloud showing the Clarence Alluvial fields. The alluvial workings create a pimply appearance in LiDAR imagery. These placer fields occur within first and second order stream in-valley land surfaces for likely Holocene age (transparent blue arrows). In the case of the Clarence Alluvial Field, modern drainage has partially overprinted the Holocene drainage leaving alluvial terraces. A number of gold vein and antimony vein prospects occur in the very near vicinity. This illustrates the very close source of the gold in the placer deposits. CAUTIONARY NOTE : The Competent Person has not done sufficient work to verify whether the prospects in this figure relate to antimony and/or gold vein mineralisation.

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Figure 9: LiDAR image produced by GeoCloud showing the Yellow Creek Alluvial fields. The alluvial workings create a pimply appearance in LiDAR imagery. These placer fields occur within first and second order stream in-valley land surfaces for likely Holocene age (transparent blue arrows). In the case of the Yellow Creek Alluvial Field, modern drainage has partially overprinted the Holocene drainage leaving alluvial terraces. Direct evidence of a very local source of gold is the Eassons Lode gold occurrence which is a vein deposit. CAUTIONARY NOTE : The Competent Person has not done sufficient work to verify whether the Eassons Lode Prospect is a vein-related gold occurrence.

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Pine Gully– Mosquito Creek Antimony Area

The Pine Gully - Mosquito Creek Antimony Area is located in the northern part of the Project. It hosts total of 19 interpreted mine workings, including 17pits, and two adits associated seven metal occurrences (Figure 10).

The Mosquito Creek Antimony Prospect is among the most significant in the Drake East Project area, described as a vein “reef” with a strike length of 1,000m and strike direction of NNE (MinView). Cautionary Note : The Competent Person has not done sufficient work to verify the MinView data. There are no guarantees that further tests would confirm that the Mosquito Creek Antimony Prospect is approximately 1,000m long.

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Figure 10: LiDAR image (right) with location geological location plans (left). The LiDAR image was produced by GeoCloud. The author has added trend lines and certain captions: Yellow dashed lines highlight the orientation of the mine working. White dashed lines highlight interpreted lineation that is reflected in local drainage patterns. A single black dashed line reflects a MinView description of a NNE 1,000m gold-antimony reef. CAUTIONARY NOTE : The insert areas (A and B) are from areas inside the primary plan, as indicated on the primary plan. The coordinates (and north arrow) of the inserts are therefore constrained by the primary plan.

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The linear configuration of the mine workings comprising the Pine Gully Lode North and Pine Gully Lode South, interpreted from LiDAR, indicates a NW-SE orientation which is consistent with the interpreted vein orientations in the southern part of the project at the Hedley’s - Gully Prospect Area and Hansen Hills - Hidden Treasure Area.

Next Steps and Funding

The planned next step at Drake East is to ground-truth those mine workings that are considered significant; those relating to potentially economic levels of antimony and/or gold, and/or copper.

Upcoming planned programs include (but not limited to):

  • A desk-top review to prioritise the nearly 800 mine workings for fieldwork including geological mapping and geochemical rock chip sampling.

  • A desk-top review of the 70 MinView mineral prospects.

  • A desk-top review if the placer gold potential of the Project.

  • Mapping and sampling of high priority mine workings, MinView prosects, and new targets.

The author of this announcement understands that the Company has adequate funds to complete this planned exploration activity.

RML Management Says

Executive Director, Aharon Zaetz, commented about the LiDAR results and independent review:

The final LiDAR interpretation now reviewed by Riviere has provided RML further insight into the antimony and gold potential of Drake East. This project clearly has very significant upside with nearly 800 mine workings, that in reality are too numerous to count. The widespread placer gold workings are in their own right a valid and exciting exploration target. That they strongly indicate a very local source of gold is equally exciting. And then there is of course the antimony and antimony-gold vein potential, which is very significant, believed part of the same mineral system that included Legacy’s adjacent Lunatic Antimony Field.”

About the Drake East Antimony-Gold-Copper Project

The Drake East Project is considered a highly prospective brownfields opportunity with past historical antimony production. The Drake East Project is immediately adjacent to the Legacy Minerals Holdings Ltd (ASX: LGM) Drake Gold-Copper Project where they are developing a large epithermal gold-copper mineralised system.

The Drake East Project hosts fifteen known antimony occurrences, including the well-documented Mosquito Creek Antimony-Gold Reef. These antimony occurrences cover a large area with a NW-SE strike length of over 15km (Figure 1 and Figure 2). The project also hosts fifty gold occurrences, including a placer gold resource at Lanikai West.

A significant antimony occurrence at Drake East is called the Mosquito Creek Antimony-Gold Reef . Antimony and gold here are associated with a vein system bearing 30 NE, 1,000 metres in length, cutting local geology (Emu Creek Formation mudstones and Jenny Lind Tonalite granites). Antimony (and gold) mineralisation appears to be closely associated with NE-SW structures that spray from the Jump Up Fault (Figure 2). Another significant antimony occurrence at Drake East is the Ball & Smiths Lode , centred in the southern half of the project area. Juxtaposed with several other antimony and gold occurrences, the Ball & Smiths Lode is an historical 1870’s mine (shafts and open pits). Assays from Sample Number G00/363 reports 5.72% Sb and 0.26g/t Au.

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Note: All sample results have been referenced in previous RML ASX announcements. The author has not completed sufficient studies to be able to verify the reported grades.

The style (classification) of mineralisation is believed to be structurally controlled metahydrothermal vein AuSb-W (Ag-Te) type. In these types of deposits, antimony characteristically occurs as the sulphide ore mineral stibnite (Sb2S3 with 73% mol weight antimony).

As well developing the antimony potential of the Drake East Project, the Company will also pursue the gold (silver and copper) potential. Drake East has 50 documented historical gold occurrences, with assays at Pine Gully returning up to 60.9 g/t, and historical production at Bucklands Reef of 100 tonnes @ 32.6 g/t Au.

Note: All sample results have been referenced in previous RML ASX announcements. The author has not completed sufficient studies to be able to verify the reported grades.

Limited systematic and modern exploration at Drake East represents significant opportunity for Resolution Minerals. RML plans to initiate systematic exploration programs, including geophysical surveys, geochemical sampling, and drilling campaigns, to evaluate the mineral potential of these projects.

About Rivere Minerals

Riviere Minerals is a resource consultancy specialising in economic geology, geomorphology, project evaluation and portfolio management. Its principle geologist and sole director, Mr Ross Brown, has nearly 40 years of experience in mineral exploration worldwide.

Among other specialisations, Mr Brown specialises in economic geology and geomorphology, such as palaeochannel-hosted forms of mineralisation and placer deposits. LiDAR is an exploration tool used to accurately measure topography. The combination of geology and topography equates to the study of geomorphology. Mr Brown therefore has adequate expertise to review LiDAR interpretations and qualifies as a Competent Person for this exploration activity.

Competent Person’s Statement

The information in this report, that relates to proposed exploration activities for the Drake East Project in New South Wales, is based on information reviewed and compiled by Mr Ross Brown BSc (Hons), M AusIMM, SEG, Principal Geologist/director of exploration consulting firm, Riviere Minerals Pty. Ltd, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Brown has sufficient experience, which is relevant to the exploration activities, style of mineralisation and types of deposits under consideration, and to the activity which has been undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Riviere Minerals is consulting to Resolutions Minerals Limited and consents to the report being issued in the form and context in which it appears. The Company confirms it is not aware of any new information or data that materially affects the information cross referenced in this announcement. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original announcements.

Disclaimer

This report and opinions contained herein are based on LiDAR results received from LIDAR data modelling and interpretation specialists, GeoCloud Analytics. The author who has adequate experience to review LiDAR interpretations has based its review of the interpretation, conclusions and recommendations from these results in the format it was provided. The author does not take any responsibility or liability for the commentary derived from these sources, nor does the author take any responsibility or liability for commercial decisions or work carried out by Resolution Ltd, any related party, or subsequent parties, or actions resulting from them.

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Further Reading for Resolution’s New Antimony Projects

As well as the ASX announcements of 10 and 17 March 2025 describing the antimony-focussed project acquisitions and commencement of LiDAR respectively, the Company published a presentation entitled “High Grade Antimony Strategy to Meet Growing Global Critical Metals Demands” (also 10 March 2025).

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Authorised for release by the board of Resolution Minerals Ltd.

For further information, please contact Aharon Zaetz Executive Director.

Aharon Zaetz

Executive Director Resolution Minerals Ltd. M: +61 424 743 098 [email protected]

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Appendix 1: How LiDAR Works (Taken from GeoCloud website).

Light Detection and Ranging (LiDAR) is a remote sensing technique that uses laser pulses to measure distances and directions to objects. LiDAR systems can create 3D models of the earth’s surface (see Figure 11). A laser scanner fitted to an aircraft scans along its flight path, sending pulses out at a rate up to 1000khz, with multiple target reflections per pulse. While scanning, the GPS (GNSS receiver) on the aircraft is in constant communication the GPS satellite constellation, always knowing where it is in 3D space. During flight, the subtle aircraft movements are recorded, allowing post processing to correct these deviations ensuring the laser scan lines are calibrated and corrected for maximum precision and accuracy.

The standout feature of LiDAR is its ability to see the ground through trees and heavy vegetation.

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Figure 11: A schematic representation of how LiDAR works (copied, and unmodified, from the GeoCloud website).

LiDAR Can Detect Old Mine Workings

Historical mine shafts can be detected using this technology, which essentially “sees through” the vegetation cover that may conceal old shafts overgrown. Given the historical mining that has taken place at Drake East, the LiDAR study is perfectly suited to helping identity areas of interest and provide a series of initial targets to focus further exploration on.

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3 April 2025

Appendix 2: JORC Code, 2012 Edition

Section 1 Sampling Techniques and Data

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

Criteria JORC Code explanation Commentary
Sampling
techniques
Nature and quality of sampling (eg cut channels,
random chips, or specific specialised industry
standard measurement tools appropriate to the
minerals under investigation, such as down hole
gamma sondes, or handheld XRF instruments,
etc). These examples should not be taken as
limiting the broad meaning of sampling.
Include reference to measures taken to ensure
sample representivity and the appropriate
calibration of any measurement tools or systems
used.
Aspects of the determination of mineralisation
that are Material to the Public Report.
In cases where ‘industry standard’ work has been
done this would be relatively simple (eg ‘reverse
circulation drilling was used to obtain 1 m
samples from which 3 kg was pulverised to
produce a 30 g charge for fire assay’). In other
cases more explanation may be required, such as
where there is coarse gold that has inherent
sampling problems. Unusual commodities or
mineralisation types (eg submarine nodules)
may warrant disclosure of detailed information.
• Data supplied in LiDAR datums as
downloaded from ELIVIS in GDA2020,
UTM zone 56 South in metres, vertical
datum AHD using AusGeoid2020 in
metres.
• Average horizontal accuracy: ⩽40cm @
68% confidence interval, average
vertical accuracy: ⩽10cm @ 68%
confidence interval.
• Metadata document for the source
LiDAR acquired by FUGRO for the
CSIRO.
• Gold and antimony prospect locations
and historical data from these prospects
were obtained from the NSW geological
Survey online data portal MinView.
• Findings of a review of the LiDAR
interpretations constitutes exploration
results, and such exploration results are
generated by the author, who has
adequate experience in
geomorphological interpretation to
qualify as a Competent Person with
respect to its conclusions.
• The author has not completed sufficient
studies to determine the accuracy of the
various reports mentioned in this
announcement with respect to the gold
and antimony prospects.
Drilling
techniques
Drill type (eg core, reverse circulation, open-hole
hammer, rotary air blast, auger, Bangka, sonic,
etc) and details (eg core diameter, triple or
standard tube, depth of diamond tails, face-
sampling bit or other type, whether core is
oriented and if so, by what method, etc).
• Data classification was manually
checked and edited against
georeferenced digital orthophotography
and government minerals occurrence
files acquired from the NSW geological
Survey online data portal MinView.
Drill sample
recovery
Method of recording and assessing core and chip
sample recoveries and results assessed.
Measures taken to maximise sample recovery
and ensure representative nature of the samples.
Whether a relationship exists between sample
recovery and grade and whether sample bias
may have occurred due to preferential loss/gain
of fine/coarse material.
• No drilling results are referred to in this
announcement..
Logging Whether core and chip samples have been
geologically and geotechnically logged to a level
of detail to support appropriate Mineral
Resource estimation, mining studies and
• No drilling results are referred to in this
announcement..

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3 April 2025

Criteria JORC Code explanation Commentary
metallurgical studies.
Whether logging is qualitative or quantitative in
nature. Core (or costean, channel, etc)
photography.
The total length and percentage of the relevant
intersections logged.
Sub-sampling
techniques and
sample
preparation
If core, whether cut or sawn and whether
quarter, half or all core taken.
If non-core, whether riffled, tube sampled, rotary
split, etc and whether sampled wet or dry.
For all sample types, the nature, quality and
appropriateness of the sample preparation
technique.
Quality control procedures adopted for all sub-
sampling stages to maximise representivity of
samples.
Measures taken to ensure that the sampling is
representative of the in situ material collected,
including for instance results for field
duplicate/second-half sampling.
Whether sample sizes are appropriate to the
grain size of the material being sampled.
• No drilling results are referred to in this
announcement.
• In the rock chip channel and bulk
sample sampling no sub-sampling was
referred to in the available data.
Quality of
assay data and
laboratory
tests
The nature, quality and appropriateness of the
assaying and laboratory procedures used and
whether the technique is considered partial or
total.
For geophysical tools, spectrometers, handheld
XRF instruments, etc, the parameters used in
determining the analysis including instrument
make and model, reading times, calibrations
factors applied and their derivation, etc.
Nature of quality control procedures adopted (eg
standards, blanks, duplicates, external
laboratory checks) and whether acceptable
levels of accuracy (i.e. lack of bias) and precision
have been established.
• Based on available data it is unknown
whether the assay data is partial or
total.
• No pXRF technology was available at
the time of the sampling.
• No analytical method was stated in the
available data. It is presumed that a
certified laboratory completed the
assay analysis.
• No information is available concerning
the control procedures adopted.
Verification of
sampling and
assaying
The verification of significant intersections by
either independent or alternative company
personnel.
The use of twinned holes.
Documentation of primary data, data entry
procedures, data verification, data storage
(physical and electronic) protocols.
Discuss any adjustment to assay data.
• No significant intersections are referred
to in this announcement.
• No drilling and therefore twinned holes
are mentioned in this announcement.
• No attempt has been made to adjust
assay data.
Location of
data points
Accuracy and quality of surveys used to locate
drill holes (collar and down-hole surveys),
trenches, mine workings and other locations
used in Mineral Resource estimation.
Specification of the grid system used.
Quality and adequacy of topographic control.
• Data supplied in LiDAR datums as
downloaded from ELIVIS in GDA2020,
UTM zone 56 South in metres, vertical
datum AHD using AusGeoid2020 in
metres.
• Average horizontal accuracy: ⩽40cm @
68% confidence interval, average
vertical accuracy:⩽10cm@68%

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3 April 2025

Criteria JORC Code explanation Commentary
confidence interval.
Data spacing
and
distribution
Data spacing for reporting of Exploration
Results.
Whether the data spacing and distribution is
sufficient to establish the degree of geological
and grade continuity appropriate for the Mineral
Resource and Ore Reserve estimation
procedure(s) and classifications applied.
Whether sample compositing has been applied.
• LiDAR over Drake East has an emitted
minimum average density of 16 points
per metre without swath overlap. With
swath overlap, minimum average
density of 30 points per metre is
achieved.
Orientation of
data in relation
to geological
structure
Whether the orientation of sampling achieves
unbiased sampling of possible structures and the
extent to which this is known, considering the
deposit type.
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.
• LiDAR data represents the surface areas
of the LiDAR surveyed area, with
accurate X (east-west), Y (north-south)
and Z (height) data reported as a
topographic image in a prescribed area.
• LiDAR does not indirectly indicate
mineralisation. In the case of this
announcement, emphasis is placed on
LiDAR mappable ground disturbances
that are interpreted to related to
historical mining and prospecting; and
by this, indirectly alluded to
mineralisation.
• An exemplar is the NE-SW orientation
of LiDAR ground disturbances
interpreted workings that in turn are
interpreted as a NE-SW orientated
linear zone of mineralisation.
Sample
security
The measures taken to ensure sample security. • LiDAR data is confidential, and only
accessed by RML representatives and
GeoCloud Analytics representatives..
Audits or
reviews
The results of any audits or reviews of sampling
techniques and data.
• Airborne LiDAR surveys include field
test points of survey areas. LiDAR test
points were used to test and validate
the achieved (above stated) accuracies.
Results of test point comparisons and
achieved accuracies are reported in the
above mention source metadata.

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3 April 2025

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria JORC Code explanation Commentary
Mineral tenement
and land tenure
status
Type, reference name/number, location and
ownership including agreements or
material issues with third parties such as
joint ventures, partnerships, overriding
royalties, native title interests, past sites,
wilderness or national park and
environmental settings.
The security of the tenure held at the time of
reporting along with any known
impediments to obtaining a licence to
operate in the area.
• This announcement refers to one project
(the subject of a binding acquisition
agreement (subject of a prior ASX
announcement of 10 March 2025):Drake
East: EL9730;
• The granted exploration licence is in good
standing at the time of this announcement.
Exploration done
by other parties
Acknowledgment and appraisal of
exploration by other parties.
• The LiDAR data modelling and
interpretation was carried out by
GeoCloud Analytics.
Geology Deposit type, geological setting and style of
mineralisation.

The geology of the Drake East Project is
affected by the New England Orogen,
comprising Carboniferous and Triassic
aged sediments, and Permian-aged
granites. The Sb (Au-As) mineralisation
in vein type associated with near-vertical
structures.
Drillhole
Information
A summary of all information material to
the understanding of the exploration results
including a tabulation of the following
information for all Material drillholes:
o easting and northing of the drillhole
collar
o elevation or RL (Reduced Level –
elevation above sea level in metres) of
the drillhole 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.
• No drillhole results are reported in this
announcement.
Data aggregation
methods
In reporting Exploration Results, weighting
averaging techniques, maximum and/or
minimum grade truncations (eg cutting of
high grades) and cut-off grades are usually
Material and should be stated.
Where aggregate intercepts incorporate
short lengths of high-grade results and
longer lengths of low grade results, the
procedure usedfor such aggregation should
• No weighting averaging techniques were
used in this announcement.
• No aggregate intercepts were used in this
announcement.
• No metal equivalent values were used in
this announcement.

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3 April 2025

Criteria JORC Code explanation Commentary
be stated and some typical examples of such
aggregations should be shown in detail.
The assumptions used for any reporting of
metal equivalent values should be clearly
stated.
Relationship
between
mineralisation
widths and
intercept lengths
These relationships are particularly
important in the reporting of Exploration
Results.
If the geometry of the mineralisation with
respect to the drillhole angle is known, its
nature should be reported.
If it is not known and only the down hole
lengths are reported, there should be a clear
statement to this effect (eg ‘down hole
length, true width not known’).
• LiDAR data represents the surface areas
of the LiDAR surveyed area, with accurate
X (east-west), Y (north-south) and Z
(height) data reported as a topographic
image in a prescribed area.
• LiDAR does not indirectly indicate
mineralisation. In the case of this
announcement, emphasis is placed on
LiDAR mappable ground disturbances
that are interpreted to related to
historical mining and prospecting; and by
this, indirectly alluded to mineralisation.
• An exemplar is the NE-SW orientation of
LiDAR ground disturbances interpreted
workings that in turn are interpreted as a
NE-SW orientated linear zone of
mineralisation..
Diagrams Appropriate maps and sections (with
scales) and tabulations of intercepts should
be included for any significant discovery
being reported These should include, but
not be limited to a plan view of drillhole
collar locations and appropriate sectional
views.
• All diagrams of the LiDAR based
topography of selected areas within the
project area, show coordinates, scale bar,
north direction and an explanatory
legend.
Balanced
reporting
Where comprehensive reporting of all
Exploration Results is not practicable,
representative reporting of both low and
high grades and/or widths should be
practiced to avoid misleading reporting of
Exploration Results.
• The author of this announcement
considers the announcement to be fair
and balanced, with additional care and
caution noted in the body of the
announcement regarding the historical
nature of the results relating to the
historical gold and antimony prospects.
Other substantive
exploration data
Other exploration data, if meaningful and
material, should be reported including (but
not limited to): geological observations;
geophysical survey results; geochemical
survey results; bulk samples – size and
method of treatment; metallurgical test
results; bulk density, groundwater,
geotechnical and rock characteristics;
potential deleterious or contaminating
substances.
• This announcement relates to a final
report of LiDAR data reprocessing and
interpretation, and an independent
review of same.
• A more detailed review of the historical
data and a ground truthing program is
recommended.
Further work The nature and scale of planned further
work (eg tests for lateral extensions or
depth extensions or large-scale step-out
drilling).
Diagrams clearly highlighting the areas of
possible extensions, including the main
• This announcement relates to a final
report of LiDAR data reprocessing and
interpretation, and an independent
review of same. By virtue of this fact and
that the LiDAR interpretations are of
ground disturbances relatingto historical

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3 April 2025

Criteria JORC Code explanation Commentary
geological interpretations and future
drilling areas, provided this information is
not commercially sensitive.
mine workings; that the Company has
newly acquired these projects; a full
reconnaissance program is required to
verify the historical data. Planning for
such future exploration has already
commenced.

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