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RESOLUTION MINERALS LTD Investor Presentation 2021

Sep 6, 2021

65717_rns_2021-09-06_8568b167-d7df-47cb-b114-14ecf598a697.pdf

Investor Presentation

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7 September 2021

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INVESTOR PRESENTATION AND WEBINAR INVITATION TODAY 12 NOON

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Resolution Minerals Ltd (ASX:RML) ( Resolution or the Company ) is pleased to provide investors with the opportunity to attend a webinar and Investor Presentation by Managing Director, Duncan Chessell at 12 noon today, Sydney time.

Resolution is active on multiple projects in Alaska and Northern Australia. Today’s webinar will summarise the most important current activities, strategy and plans for the next 12 months and include time for Q&A session at the end.

A copy of the presentation is attached.

Date: Tuesday the 7[th] of September 2021 Time: 12noon Sydney, Australia

Register in advance for this Zoom webinar: Link

After registering, you will receive a confirmation email containing information about joining the webinar

Resolution Minerals Ltd is a precious and battery metals mineral explorer with its gold focussed 64North Project in Alaska; and second major Wollogorang Cu-Co Projects with partner OZ Minerals in Australia and Benmara Cu-CoU Project in Australia which Resolution retains a 100% upside interest.

For further information please contact Duncan Chessell the authorising officer:

Duncan Chessell Or Julian Harvey Managing Director Investor Communications Resolution Minerals Ltd Resolution Minerals Ltd +61 414 804 055 +61 404 897 584 [email protected] [email protected]

CAPITAL STRUCTURE

BOARD

Ordinary Shares Issued 448 M

Performance Shares Class A 9.6 M Class B 3.6 M Last Capital Raise February 2021 – Placement $3.2M @ 2.8c

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

Options and rights Listed options 6 M @ 10c Listed options 74 M @ 12c Unlisted options 13 M @ 8c Unlisted options 59 M @ 4c Unlisted rights 11 M

Level 4, 29 King William Street Adelaide SA 5000

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Hunting for Big Deposits in Big Country Investor Presentation Gold and Copper Exploration Alaska and Australia

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LATEST NEWS – WEBINAR HIGHLIGHTS

Resolution is active on multiple projects in Alaska and Northern Australia Today’s webinar will cover the most important current activities, strategy and plans for the next 12 months.

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FOCUS

Resolution’s attention is battery metals in the under-explored Northern Australia and precious metals on specific prospects at the 64North Gold Project in Alaska. “Hunting for Big Deposits in Big Country”

ALASKA

  • Trenching at Tourmaline Ridge underway following up high grade gold rock chips up to 118g/t gold to define drill targets

  • Focus 64North Project to the best 20 prospects from 30 initial prospects, lowering holding costs of project

  • High value drill targets identified at East Pogo on recently completed RC drill program

  • Continued field work to define further drill targets at Divide Block – Elaine and Kramer Prospects

BATTERY METALS NORTHERN AUSTRALIA

  • 2,500m RC drilling program to commence at Benmara Project in September in ~2 weeks time (late September) o Follow up drilling late 2021 subject to results

  • Significant farm-in agreement with copper producer OZ Minerals on the Wollogorang Project o Provides significant funds to allow follow up of VTEM geophysics results over multiple years, to decision to mine

Disposal of Snettisham Vanadium-Iron Project (Alaska) to project generator Millrock Resources. Millrock will seek a transaction on the project to 3[rd] parties with a share of proceeds agreement (30% due to RML), with no ongoing carrying costs to RML.

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PROJECTS

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COMPANY OVERVIEW

Resolution Minerals Ltd (RML) is a junior mineral explorer with projects prospective for in-demand commodities gold, copper and other battery metals. RML believes the best value creation for shareholders is through discovery success.

Duncan Chessell - Managing Director BSc, MAIG, MAusIMM, GAICD

Geologist, 20+ years experience in business and oil, gas, precious and battery metals exploration and project generation in Australia and Papua New Guinea. Triple Mt Everest summiteer, and currently Non-Executive Director of The Outdoor Education Group.

Craig Farrow – Chair

Non-Executive; Chartered Accountant with a strong commercial acumen across multi sectors including agriculture, professional services and technology. Previous directorships include Vocus Group (ASX:VOC) amongst others.

Andrew Shearer - Director

Non-Executive; Geophysicist with a technical and corporate background as a resource analyst. Non-Executive Director of Andromeda Metals (ASX:ADN) and Investigator Resources (ASX:IVR).

Christine Lawley - Exploration Manager BSc(Hons), MSc, RPGeo, MAIG, MAusIMM Christine has 15 years’ mineral exploration experience in gold, base and strategic metals with Newmont, Musgrave Minerals and Iluka and holds a Masters Degree in Ore Deposit Geology.

Rebecca Gower – VP Exploration Alaska BSc, MSc, MSEG, MAusIMM

Rebecca has 15 years’ mineral exploration in Alaska, South America and Australia in precious and base metals including 8 years gold and nickel exploration in Australia. Based in Fairbanks Alaska, Rebecca manages the 64North Project.

Kelvin Blundell - Consulting Geophysicist

Sandfire’s consulting geophysicist for the significant DeGrussa Cu-Au massive-sulphide discovery and recent success with Musgrave Minerals, Kelvin has 20 years experience internationally having worked on projects in Australia, Canada and Africa in precious and base metals.

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3 September 2021 Capital Structure ASX:RML (share price $0.023) 3 September 2021 Capital Structure ASX:RML (share price $0.023)
Market Capitalisation / Share Price $10m / $0.023
Ordinary Shares 448m
Top 20 Shareholders ~31%
Cash 30 June 2021 Quarterly Report $1.75m
Total Number of Shareholders ~2,400
Options ($0.042/sh, 15/04/22) 59.1m
Options ($0.10/sh, 30/6/22) Listed RMLOA 6.1m
Options ($0.12/sh, 30/9/23) Listed RMLOB 74.6m
Options ($0.08/$0.10/sh, 30/11/22) - escalating price / year 13.4m
Unlisted rights (m) – (to Board and Management) 11.4m
Performance Shares - Class A & B (m) (IPO Vendor milestones on Wollogorang, 6/9/2022) 13.2m

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NORTHERN TERRITORY BATTERY METAL PROJECTS

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Wollogorang
Project
Benmara
Project
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Wollogorang Project (Cu, Co, U)

  • 40 conductors identified in recent VTEM geophysical survey highlighting the sediment hosted copper potential of the project

  • Drill targets at the Gregjo Copper Prospect to test chargeable IP geophysical anomaly underlying copper mineralisation intersected in shallow RAB drilling - up to 4% Cu

  • Covering 3,825km[2] in the McArthur Basin prospective for sedimentary hosted battery metals: copper, cobalt and prospective for hard rock uranium.

  • 100% owned with mid-tier copper producer OZ Minerals sole funding Farm-in spending $5m to earn 51% interest

  • Stanton Cobalt Deposit (942kt @ 0.13% Co, 0.06% Ni, 0.12% Cu)

  • Wollogorang is positioned on Geoscience Australia’s newly identified base metal corridor - (Hoggard et al 2020)

Previous exploration focussed on discrete breccia pipes, which demonstrated the presence of copper and cobalt in the system. However, these breccia pipes were not of sufficient scale to warrant further attention on RML’s tenements. Resolution’s new approach is to use modern VTEM geophysics to identify large scale sedimenthosted stratiform copper mineralisation in reductive host rocks / “trap sites”.

Benmara Project (Cu-Ag-Pb-Zn-Co)

Covering 663km[2] positioned on the Fish River Fault west of the polymetallic Walford Creek Deposit (Cu-Ag-Pb-Zn-Co) and Westmoreland Uranium Deposits

  • Two large scale drill targets (4km and 2km strike) identified by VTEM survey

  • 2,500m RC drilling program planned to commence in September

  • Retain 100% upside exposure for RML shareholders

Companies exploring in the region include BHP, Rio Tinto, Newcrest, South32

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BENMARA PROJECT BATTERY METALS - NORTHERN TERRITORY ,

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Uranium mineral No modern exploration
occurrences due to access issues
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VTEM geophysics survey identifies 4km and 2km strike length drill targets in favourable sediment hosted copper setting

  • Same geological setting as the Walford Creek Deposit 40.9Mt @ 2.03% CuEq (Aeon Metals website ASX: AML)

  • The Benmara Project and Wollogorang Project and is part of Resolution’s strategy to explore for battery metals in Northern Australia

  • New copper / battery-metal drill targets are untested by prior drilling

  • Prior exploration focused on uranium and diamonds and did not assay for base metals, no exploration east to QLD border 1960’s (access)

  • 2,500m RC drilling to commence ~ 2 weeks time (late September) and will take ~3 weeks to complete

  • Follow up drilling in late 2021 - subject to results and rig availability

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WOLLOGORANG PROJECT – COPPER POTENTIAL

Sediment-hosted stratiform copper potential

  • Results from VTEM geophysics survey identified 40 conductors highlighting the copper potential of the Wollogorang Project, NT.

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  • VTEM surveys can detect sub-surface conductive bodies to 400m such as massive base metal sulfides directly and other potential trap sites for base metals.

  • Project familiarisation with OZ Minerals team 2021

  • Heritage surveys and community engagement 2021

  • Drilling to take place in 2022 dry season, May – December

OZ Minerals Agreement – key terms

Dozens of targets untested by previous drilling

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||||
|---|---|---|
|o|OZL can earn a 51% interest by spending ~$4.9m over 5 years|
|o|RML may retain 49% interest by electing to participate from year 6|
|o|If RML elects not to participate, OZL has the option to earn a 75% interest, by sole-|
|funding and delivering a Positive Final Investment Decision to Mine|
|Priority|# Targets|Comments|
|1|4|Strong late-time anomaly or discrete mid-time anomaly|
|2|13|Good mid-time to late-time anomaly indicative of a bedrock source|
|3|23|Moderate mid-time anomaly indicative of as bedrock source|

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WOLLOGORANG PROJECT: DRILL TARGETS

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2021 VTEM Geophysics Survey
identified dozens of new targets
• Underexplored terrain
• Lack of previous drilling
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Gregjo Prospect (Cu) - to be drill tested in 2022

  • Regional scale fault - source of metal rich fluids

  • 800m x 200m Cu zone identified in shallow drilling

  • Open along-strike to SE and NW

  • Flat lying favourable sedimentary host rocks

  • UNTESTED chargeable (IP) geophysics anomaly 60m depth to top of target (below 30m shallow RAB drilling)

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  • Indicative drill intersection 7m @ 1.23% Cu from 4m (18RAB13); Including 1m @ 4.2% Cu in RAB drilling

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2021
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Stanton Cobalt Deposit
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Stanton Cobalt Deposit* Total Mineral Resource Estimate 942,000t @ 0.13% Co, 0.06% Ni and 0.12% Cu

*See ASX announcement 9/4/2018 (ASX:N27) for Company JORC (2012) resource statement.

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WOLLOGORANG PROJECT: GREGJO PROSPECT

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Large Chargeable IP anomaly
sits below shallow RAB drilling.
Historic holes 18RAB013: (2018 Co program)
1995 CRA 7m @ 1.23% Cu including
• 1m @ 4.24% Cu
Shallow Cu mineralised
RAB holes to 30m depth
did not test deeper
>0.3% Cu chargeable IP anomaly
Chargeable IP
ü Regional scale fault - source of metal rich fluids untested by anomaly
ü 800m x 200m Cu zone identified in shallow drilling drilling
ü Open along-strike to SE and NW
ü Flat lying favourable sedimentary host rocks
ü UNTESTED chargeable (IP) geophysics anomaly
60m depth to top of target (sits below RAB drilling) background image: TMI Magnetics open
open
Section 1
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ALASKA TINTINA GOLD PROVINCE – GIANT DEPOSITS!

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The 64North Project – Alaska

  • Potential GIANT size gold prospects in highly prospective Pogo District

  • 357km[2] surrounding the 11M oz Au Pogo Gold Mine owned by Northern Star (ASX:NST)

  • 30% interest achieved with right to earn a: - 42% interest further US$0.9m spend (31/01/22) - 51% interest further US$2.35m (31/01/23) then JV - 60% interest further US$2.35m (31/01/24)

  • In 2020 built a strong pipeline of prospects and acquired new geophysical data sets and built jurisdictional expertise.

September 2021 reduce tenements to focus on 20 best prospects and reduce carrying costs Operational control of project in February 2021 Expenditure for 42% earn-in exceeded, further spend carried-forward to 2022 (Year 3)

Deposit sizes stated as Endowment (Resources + Reserves + Historic Production), from Company websites, as listed on disclaimer slide

Tourmaline Ridge trenching program underway, high value deeper drill targets identified at East Pogo

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64NORTH PROJECT - ALASKA

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X
X
X Kramer
X Tourmaline Ridge & Sunrise Prospects X
X Elaine
Prospect
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Two styles of gold mineralisation targeted on the 64North Project

  • Pogo style - East Pogo

  • Fort Knox style - Sunrise Prospect, Tourmaline Ridge

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Best 20 Prospects retained of 30 assessed

  • Current 682km[2 ] to be reduced to 357km[2] ( blue X indicate areas to be relinquished)

The Right Ingredients

  • þ Right Geology – Granitic Intrusions, age 80-102 Ma, main mineralizing engine room present throughout Tintina Gold Province

  • þ Brown fields – next to Pogo Gold Mine þ Same rocks as Pogo Mine

  • þ Large structures – potential fluid pathways identified in geophysics surveys

  • þ Geophysics – ZTEM and CSAMT surveys indicate geophysical “look-a-likes” of Goodpaster & Pogo Mine @ East Pogo

  • þ Large intrusive granites identified in geophysics at Sunrise / West Pogo Prospect – confirmed Fort Knox style

Historic Exploration Database

  • US$15 million in expenditure 1998-2012

  • ~40,000 Surface Samples

  • 11,434 m of NQ core drilling

  • • Airborne Magnetics & EM

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64NORTH: SUNRISE PROSPECT

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RAB drilling program 1400m traverse April 2021

  • Targeting outcropping Fort Knox style mineral system to test scale - highlighted in 2020 trenching program

  • Using existing RML tracks, next to Pogo Mine Road - all year access

Drilling Results

  • Confirm the presence of thick intervals of Fort Knox style mineralisation in a 280m wide gold mineralised corridor open at depth and to the north and south

  • Hole: 21SU009

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

  • • Hole: 21SU007

  • 36.6m @ 0.33 g/t Au from surface

Fort Knox Mine Fairbanks (Anology)

RAB drilling completed April 2021, Sunrise Prospect 64North Project Alaska The Tourmaline Ridge Prospect is ~2km from to Sunrise Prospect

  • Produced 237,925oz Au 2020 _(Kinross annual report 2020 www.kinross.com)_

  • • 0.1g/t Au cut off grade, US$1,054 oz/Au Production cost

Other potential Fort Knox style targets have now been recognised near the Pogo Mine road , proximal to the Sunrise Prospect. Ground appraisal of the Sunrise Prospect and surrounding prospects concluded that trenching of the Tourmaline Ridge Prospect is most cost effective way to advance the 64North Project . Historic un-assayed drill core from the Sunrise Prospect was also located, to be assayed to test depth potential to below shallow gold zone identified by RML RAB drilling in April 2021.

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TOURMALINE RIDGE – TRENCHING PROGRAM UNDERWAY

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Trenching
Program
Rock chips up to 118g/t Au (gold)
• Targeting outcropping mineral system to test
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  • Targeting outcropping mineral system to test scale, grade and structural controls

Diagram: Highly anomalous surface geochemistry up to 118g/t Au (gold) extending over a 1km x 750m area with a prospective NE-SW trending structurally controlled zone along strike from the Goodpaster Prospect to the north-east (RML ASX Announcement 3/9/2021).

  • Rock chips higher grade and more extensive than outcrop at the Sunrise Prospect

  • Next to Pogo Mine Road - all year access

  • Road & trenches under construction now

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64NORTH PROJECT: RECENT DRILLING COMPLETED

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Heli-supported RC drilling program completed end of June 2021 – Identified Deeper Targets Targeting Pogo-style gold mineralisation derived from extensive geophysical surveys in 2020, on the Pogo trend.

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EAST POGO - RECENT RC DRILLING COMPLETED

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Vectors to potential high grade Pogo-style gold mineralisation at depth delineated

  • RC drilling program tested multiple Pogo-style gold targets identified with CSAMT geophysics surveys (2020)

  • Intersected seven sulfides bearing quartz veins with distal geochemical response over a large area

  • Pathfinder element geochemistry, Au-Bi-W-Te at the bottom of Hole ID 21EP008 indicative proximal to potential Pogo-style at depth

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EAST POGO - RECENT RC DRILLING COMPLETED

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Three hole 1600m deeper diamond core drilling program to test deeper targets designed

  • Scheduled for summer 2022 due to logistical considerations for helicopter supported drilling program at this prospect

  • Targeting high grade Pogo-style gold mineralisation

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OUR NEXT PHASE OF GROWTH - TIMELINE

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Assay results
Drilling On success –
further assay results
Assay resultsAssay results
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PROJECT OWNERSHIP SUMMARY

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64North Project:30% Interest in 64North Project* 64North Project:30% Interest in 64North Project* 64North Project:30% Interest in 64North Project* 64North Project:30% Interest in 64North Project* 64North Project:30% Interest in 64North Project* 64North Project:30% Interest in 64North Project* - Year 2 US$0.9m spend exceeded
- Overspend carried to Year 3
Stage RML US$
CASH SPEND
% Earn
in RML
RML
Shares to
Millrock
Stage
Completion
Fee US$
Due Date*
Year 2 $0.9m 42% - $100,000 31/1/2022
Year 3 $2.35m 51% 10m $100,000 31/1/2023
Right to form JV on co-funding basis or continue to earn-in
Year 4 $2.35m 60% 10m $100,000 31/1/2024

First right of refusal over vendor interest (Millrock Resources). Vendor (Millrock Resources) is a project generator listed on the TSXV: MRO Pathway to 80% on one “best Block” of 9 blocks, by loan carrying vendor to first production. Minor NSR royalties to historic prospectors range from 0% to maximum 1.5% on certain areas with buy downs. One off 6 month “grace period” can extend in any one due date by 6 months. i.e. Year 2 would become 31/7/2022. – see ASX:RML Announcement 9 February 2021 for more details.

Project Current
Interest
Details
Benmara 0% Resolution has the right to purchase from ASX: SER 100% for AUD$250k cash or scrip until 14/12/21
Wollogorang 100% IPO Asset 2017, 12.9m Resource (JORC 2012) Milestone Performance Shares expire 6/9/22
Subject to Farm-in Agreement with OZ Minerals (ASX: OZL)

OZL can earn a 51% interest by spending ~$4.9m over 5 years

RML may retain 49% interest by electing to participate from year 6

If RML elects not to participate, OZL has the option to earn a 75% interest, by sole-funding and delivering a Positive Final
Investment Decision to Mine (at a minimum spend of $1m/year OZL has a further 5 years to complete)
Snettisham 0% Disposal to Millrock for nominal $1. A 30% share of proceeds agreement with Millrock Resources on any proceeds from a transaction
created prior to 31/8/2022. No ongoing carrying costs to RML. (Allows focus on NT battery metals and 64North Gold Project).

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DISCLAIMER, JORC INFORMATION & COMPETENT PERSONS STATEMENT

T h i s p r e s e n t a t i o n h a s b e e n p r e p a r e d b y R e s o l u t i o n M i n e r a l s L t d ( R e s o l u t i o n ) . T h i s d o c u m e n t c o n t a i n s b a c k g r o u n d i n f o r m a t i o n a b o u t R e s o l u t i o n c u r r e n t a t t h e d a t e o f t h i s p r e s e n t a t i o n . T h e p r e s e n t a t i o n i s i n s u m m a r y f o r m a n d d o e s n o t p u r p o r t t o b e a l l i n c l u s i v e o r c o m p l e t e . R e c i p i e n t s s h o u l d c o n d u c t t h e i r o w n i n v e s t i g a t i o n s a n d p e r f o r m t h e i r o w n a n a l y s i s i n o r d e r t o s a t i s f y t h e m s e l v e s a s t o t h e a c c u r a c y a n d c o m p l e t e n e s s o f t h e i n f o r m a t i o n , s t a t e m e n t s a n d o p i n i o n s c o n t a i n e d i n t h i s p r e s e n t a t i o n . T h i s p r e s e n t a t i o n i s f o r i n f o r m a t i o n p u r p o s e s o n l y . N e i t h e r t h i s p r e s e n t a t i o n n o r t h e i n f o r m a t i o n c o n t a i n e d i n i t c o n s t i t u t e s a n o f f e r , i n v i t a t i o n , s o l i c i t a t i o n o r r e c o m m e n d a t i o n i n r e l a t i o n t o t h e p u r c h a s e o r s a l e s o f s h a r e s o r o t h e r s e c u r i t i e s i n a n y j u r i s d i c t i o n . T h i s p r e s e n t a t i o n i s n o t a p r o s p e c t u s , p r o d u c t d i s c l o s u r e s t a t e m e n t o r o t h e r o f f e r i n g d o c u m e n t u n d e r A u s t r a l i a n l a w ( a n d w i l l n o t b e l o d g e d w i t h t h e A u s t r a l i a n S e c u r i t i e s a n d I n v e s t m e n t s C o m m i s s i o n ( A S I C ) ) o r a n y o t h e r l a w . T h i s p r e s e n t a t i o n d o e s n o t c o n s t i t u t e i n v e s t m e n t o r f i n a n c i a l p r o d u c t a d v i c e ( n o r t a x , a c c o u n t i n g o r l e g a l a d v i c e ) a n d h a s b e e n p r e p a r e d w i t h o u t t a k i n g i n t o a c c o u n t t h e r e c i p i e n t ’ s i n v e s t m e n t o b j e c t i v e s , f i n a n c i a l c i r c u m s t a n c e s o r p a r t i c u l a r n e e d s a n d t h e o p i n i o n s a n d r e c o m m e n d a t i o n s i n t h i s p r e s e n t a t i o n a r e n o t i n t e n d e d t o r e p r e s e n t r e c o m m e n d a t i o n s o f p a r t i c u l a r i n v e s t m e n t s t o p a r t i c u l a r p e r s o n s . R e c i p i e n t s s h o u l d s e e k p r o f e s s i o n a l a d v i c e w h e n d e c i d i n g i f a n i n v e s t m e n t i s a p p r o p r i a t e . A l l s e c u r i t i e s i n v o l v e r i s k s w h i c h i n c l u d e ( a m o n g o t h e r s ) t h e r i s k o f a d v e r s e o r u n a n t i c i p a t e d m a r k e t , f i n a n c i a l o r p o l i t i c a l d e v e l o p m e n t s . T o t h e f u l l e s t e x t e n t p e r m i t t e d b y l a w , R e s o l u t i o n , i t s o f f i c e r s , e m p l o y e e s , a g e n t s a n d a d v i s o r s d o n o t m a k e a n y r e p r e s e n t a t i o n o r w a r r a n t y , e x p r e s s o r i m p l i e d , a s t o t h e c u r r e n c y , a c c u r a c y , r e l i a b i l i t y o r c o m p l e t e n e s s o f a n y i n f o r m a t i o n , s t a t e m e n t s , o p i n i o n s , e s t i m a t e s , f o r e c a s t s o r o t h e r r e p r e s e n t a t i o n s c o n t a i n e d i n t h i s p r e s e n t a t i o n . N o r e s p o n s i b i l i t y f o r a n y e r r o r s o r o m i s s i o n s f r o m t h i s p r e s e n t a t i o n a r i s i n g o u t o f n e g l i g e n c e o r o t h e r w i s e a r e a c c e p t e d . T h i s p r e s e n t a t i o n m a y i n c l u d e f o r w a r d - l o o k i n g s t a t e m e n t s . F o r w a r d - l o o k i n g s t a t e m e n t s a r e o n l y p r e d i c t i o n s a n d a r e s u b j e c t t o r i s k s , u n c e r t a i n t i e s a n d a s s u m p t i o n s w h i c h a r e o u t s i d e t h e c o n t r o l o f R e s o l u t i o n . A c t u a l v a l u e s , r e s u l t s o r e v e n t s m a y b e m a t e r i a l l y d i f f e r e n t t o t h o s e e x p r e s s e d o r i m p l i e d i n t h i s p r e s e n t a t i o n . G i v e n t h e s e u n c e r t a i n t i e s , r e c i p i e n t s a r e c a u t i o n e d n o t t o p l a c e r e l i a n c e o n f o r w a r d l o o k i n g s t a t e m e n t s . A n y f o r w a r d - l o o k i n g s t a t e m e n t s i n t h i s p r e s e n t a t i o n s p e a k o n l y a t t h e d a t e o f i s s u e o f t h i s p r e s e n t a t i o n . S u b j e c t t o a n y c o n t i n u i n g o b l i g a t i o n s u n d e r a p p l i c a b l e l a w , R e s o l u t i o n d o e s n o t u n d e r t a k e a n y o b l i g a t i o n t o u p d a t e o r r e v i s e a n y i n f o r m a t i o n o r a n y o f t h e f o r w a r d - l o o k i n g s t a t e m e n t s i n t h i s p r e s e n t a t i o n o r a n y c h a n g e s i n e v e n t s , c o n d i t i o n s , o r c i r c u m s t a n c e s o n w h i c h a n y s u c h f o r w a r d l o o k i n g s t a t e m e n t i s b a s e d .

D e c e m b e r 2 0 1 8 a s “ C o b a l t , C o p p e r S y s t e m C o n f i r m e d a t R u n n i n g C r e e k ” , 2 2 J a n u a r y 2 0 1 9 a s ” G e o p h y s i c s H i g h l i g h t P o t e n t i a l a t G r e g j o ” , a n d 9 J u l y 2 0 2 1 a s “ V T E M S u r v e y I d e n t i f i e s M u l t i p l e C o n d u c t o r s - W o l l o g o r a n g P r o j e c t ” a n d o n t h e 6 4 N o r t h P r o j e c t : “ 2 0 1 9 A G M M a n a g i n g D i r e c t o r ’ s P r e s e n t a t i o n ” o n 2 6 N o v e m b e r 2 0 1 9 , “ E x p l o r a t i o n U p d a t e - 6 4 N o r t h P r o j e c t A l a s k a ” o n 1 4 M a y 2 0 2 0 , “ D r i l l i n g U p d a t e - 6 4 N o r t h P r o j e c t A l a s k a ” o n 2 4 J u n e 2 0 2 0 , “ I n v e s t o r P r e s e n t a t i o n - N o o s a M i n i n g V i r t u a l C o n f e r e n c e ” o n 1 3 J u l y 2 0 2 0 , “ D r i l l i n g C o m m e n c e d a t R e f l e c t i o n P r o s p e c t - 6 4 N o r t h ” o n 2 5 A u g u s t 2 0 2 0 , “ A s s a y s a n d O p e r a t i o n s U p d a t e 6 4 N o r t h P r o j e c t A l a s k a ” o n 1 0 S e p t e m b e r 2 0 2 0 , “ B o u n d a r y P r o s p e c t R e s u l t s a t P o g o T r e n d - 6 4 N o r t h P r o j e c t ” o n 2 4 S e p t e m b e r 2 0 2 0 , “ D r i l l i n g R e s u l t s W e s t P o g o B l o c k - 6 4 N o r t h P r o j e c t , A l a s k a ” o n 2 9 S e p t e m b e r 2 0 2 0 , “ Q u a r t e r l y R e p o r t S e p t e m b e r 2 0 2 0 ” o n 3 0 O c t o b e r 2 0 2 0 , “ A l a s k a M i n e r s A s s o c i a t i o n T e c h n i c a l P r e s e n t a t i o n ” o n 5 N o v e m b e r 2 0 2 0 , “ N e w C l a i m s A d d e d E a s t P o g o – 6 4 N o r t h P r o j e c t , A l a s k a ” o n 1 4 D e c e m b e r 2 0 2 0 , “ O u t c r o p p i n g G o l d S y s t e m I d e n t i f i e d - A s s a y R e s u l t s 2 0 2 0 , 6 4 N o r t h , A l a s k a ” o n 1 8 J a n u a r y 2 0 2 1 , “ P o s i t i v e r e v i s i o n o f J V a g r e e m e n t f o r 6 4 N o r t h p r o j e c t , A l a s k a ” o n 9 F e b r u a r y 2 0 2 1 , “ S u n r i s e P r o s p e c t a s s a y r e s u l t s c o n f i r m F o r t K n o x S t y l e m i n e r a l i s a t i o n ” 1 7 M a y 2 0 2 1 5 J u l y 2 0 2 1 a s “ D r i l l i n g P r o g r a m C o m p l e t e d a t E a s t P o g o G o l d P r o s p e c t ” , 6 A u g u s t 2 0 2 1 a s “ E a s t P o g o D r i l l i n g U p d a t e - 6 4 N o r t h P r o j e c t ” a n d 1 S e p t e m b e r 2 0 2 1 “ C o p p e r D r i l l T a r g e t s I d e n t i f i e d - B e n m a r a P r o j e c t , N T ” .

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T h e i n f o r m a t i o n i n t h i s r e p o r t t h a t r e l a t e s t o E x p l o r a t i o n R e s u l t s i s b a s e d o n i n f o r m a t i o n c o m p i l e d b y M r D u n c a n C h e s s e l l w h o i s a m e m b e r o f t h e A u s t r a l a s i a n I n s t i t u t e o f M i n i n g a n d M e t a l l u r g y a n d A u s t r a l i a n I n s t i t u t e o f G e o s c i e n t i s t s . M r C h e s s e l l i s a D i r e c t o r a n d f u l l - t i m e e m p l o y e e o f t h e c o m p a n y . M r C h e s s e l l h o l d s S h a r e s , O p t i o n s a n d P e r f o r m a n c e R i g h t s i n t h e C o m p a n y a s h a s b e e n p r e v i o u s l y d i s c l o s e d . M r C h e s s e l l h a s s u f f i c i e n t e x p e r i e n c e t h a t i s r e l e v a n t t o t h e s t y l e o f m i n e r a l i s a t i o n a n d t y p e o f d e p o s i t u n d e r c o n s i d e r a t i o n a n d t o t h e a c t i v i t y b e i n g u n d e r t a k e n t o q u a l i f y a s a C o m p e t e n t P e r s o n a s d e f i n e d i n t h e 2 0 1 2 E d i t i o n o f t h e ‘ A u s t r a l i a n C o d e f o r R e p o r t i n g o f E x p l o r a t i o n R e s u l t s , M i n e r a l R e s o u r c e s a n d O r e R e s e r v e s ’ . M r D u n c a n C h e s s e l l c o n s e n t s t o t h e i n c l u s i o n i n t h e r e p o r t o f t h e m a t t e r s b a s e d o n h i s i n f o r m a t i o n i n t h e f o r m i n w h i c h i t i s a p p e a r s .

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6 4 N o r t h P r o j e c t - R M L h o l d s a 3 0 % I n t e r e s t a n d i s e a r n i n g t o a 6 0 % i n t e r e s t f r o m V e n d o r M i l l r o c k R e s o u r c e s w i t h a p a t h w a y t o e a r n u p t o 8 0 % o n a “ b e s t b l o c k ” . S e e A S X : R M L A n n o u n c e m e n t 9 / 2 / 2 1 . B e n m a r a P r o j e c t R M L h a s O p t i o n t o p u r c h a s e 1 0 0 % i n t e r e s t , s e e R M L A n n o u n c e m e n t 1 5 D e c 2 0 2 0 . W o l l o g o r a n g 1 0 0 % i n t e r e s t w i t h F a r m - i n A g r e e m e n t w i t h O Z L t o e a r n - i n ( s e e R M L A n n o u n c e m e n t 2 4 A u g u s t 2 0 2 1 ) . S n e t t i s h a m 0 % d i r e c t i n t e r e s t ( 3 0 % s h a r e o f p r o c e e d s a g r e e m e n t w i t h M i l l r o c k R e s o u r c e s ) .

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T h i s r e p o r t i n c l u d e s r e s u l t s t h a t h a v e p r e v i o u s l y b e e n r e l e a s e d u n d e r J O R C 2 0 1 2 b y t h e C o m p a n y A d d i t i o n a l d e t a i l s i n c l u d i n g J O R C 2 0 1 2 r e p o r t i n g t a b l e s , w h e r e a p p l i c a b l e c a n b e f o u n d i n t h e f o l l o w i n g r e l e v a n t a n n o u n c e m e n t s l o d g e d w i t h t h e A S X a n d t h e C o m p a n y i s n o t a w a r e o f a n y n e w d a t a o r i n f o r m a t i o n t h a t m a t e r i a l l y a f f e c t s t h e i n f o r m a t i o n i n c l u d e d i n t h e a n n o u n c e m e n t s l i s t e d ; 2 4 N o v e m b e r 2 0 1 7 a s “ H i g h G r a d e F i r s t D r i l l R e s u l t s - S t a n t o n C o b a l t D e p o s i t ” , 2 9 N o v e m b e r 2 0 1 7 a s “ F u r t h e r H i g h G r a d e C o b a l t R e s u l t s - S t a n t o n C o b a l t D e p o s i t ” , 7 D e c e m b e r 2 0 1 7 a s “ S t a n t o n C o b a l t R e s o u r c e R e m a i n s O p e n i n M u l t i p l e D i r e c t i o n s ” , 2 2 D e c e m b e r 2 0 1 7 a s “ D e t a i l e d M a g n e t i c S u r v e y o v e r S t a n t o n C o b a l t D e p o s i t ” , 5 F e b r u a r y 2 0 1 8 a s “ F i n a l D r i l l i n g R e s u l t s 2 0 1 7 D r i l l i n g P r o g r a m ” , 7 M a y 2 0 1 8 a s “ S t a n t o n C o b a l t R e s o u r c e D i a m o n d A s s a y R e s u l t s ” , 3 0 M a y 2 0 1 8 a s “ R e g i o n a l C o b a l t T a r g e t s I d e n t i f i e d o n W o l l o g o r a n g P r o j e c t ” , 2 8 A u g u s t 2 0 1 8 a s “ C o p p e r d i s c o v e r e d a t F i r s t D r i l l T a r g e t ” , 1 9 S e p t e m b e r 2 0 1 8 a s “ C o p p e r D i s c o v e r y G r o w s a t G r e g j o P r o s p e c t ” , 2 8 S e p t e m b e r 2 0 1 8 a s “ A G M M a n a g i n g D i r e c t o r ' s P r e s e n t a t i o n ” , 9 O c t o b e r 2 0 1 8 a s “ C o p p e r I n t e r s e c t i o n C o n f i r m s N e w M o d e l a t R u n n i n g C r e e k ” , 1 9 O c t o b e r 2 0 1 8 a s “ C o b a l t S y s t e m D e v e l o p i n g a t R u n n i n g C r e e k ” , 1 4

A u s t r a l i a n P r o j e c t s L o c a t i o n M a p – s o u r c e o f d a t a G e o s c i e n c e A u s t r a l i a ( L A B 1 7 0 k m D e p t h C o r r i d o r - H o g g a r d e t a l 2 0 2 0 ) , N o r t h e r n T e r r i t o r y G o v e r n m e n t o f A u s t r a l i a ( S T R I K E T e n u r e a n d G e o s c i e n c e I n f o r m a t i o n , Q u e e n s l a n d G o v e r n m e n t ( O p e n D a t a P o r t a l Q u e e n s l a n d M i n i n g a n d E x p l o r a t i o n T e n u r e S e r i e s ) .

T i n t i n t a G o l d P r o v i n c e M a p – s o u r c e o f d a t a : K e n s i n g t o n ( C o e u r M i n i n g , w w w . c o e u r . c o m ) , P e b b l e ( N o r t h e r n D y n a s t y , w w w . n o r t h e r n d y n a s t y m i n e r a l s . c o m ) , P o g o ( N o r t h e r n S t a r R e s o u r c e s , w w w . n s r l t d . c o m ) , F o r t K n o x ( K i n r o s s , w w w . k i n r o s s . c o m ) , D o n l i n C r e e k ( N o v a G o l d , w w w . n o v a g o l d . c o m ) , L i v e n g o o d ( I n t e r n a t i o n a l T o w e r H i l l M i n e s , w w w . i t h m i n e s . c o m ) , E a g l e & D u b l i n G u l c h ( V i c t o r i a G o l d C o r p , w w w . v g c x . c o m ) , B r e w e r y C r e e k ( G o l d e n P r e d a t o r , w w w . g o l d e n p r e d a t o r . c o m ) , W h i t e G o l d ( W h i t e G o l d C o r p , w h i t e g o l d c o r p . c a ) , C o f f e e ( N e w m o n t , w w w . n e w m o n t . c o m ) .

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~~Authorised for release by Duncan Chessell~~

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