Resverlogix Corp. — Capital/Financing Update 2022

Jan 18, 2022

ASX ANNOUNCEMENT

18 January 2022

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ABOUT AIC MINES

AIC Mines is a growth focused Australian resources company. Its strategy is to build a portfolio of gold and copper assets in Australia through exploration, development and acquisition.

AIC owns the Eloise Copper Mine, a high-grade operating underground mine located SE of Cloncurry in North Queensland.

AIC also has two exploration projects in Western Australia, the Lamil JV located in the Paterson Province immediately west of the Telfer Gold-Copper Mine and the Marymia Project, within the Capricorn Orogen strategically located within trucking distance of the Plutonic Gold Mine and the DeGrussa Copper Mine.

CAPITAL STRUCTURE Shares on Issue: 308.7m

CORPORATE DIRECTORY

Josef El-Raghy Non-Executive Chairman Aaron Colleran Managing Director & CEO

Brett Montgomery Non-Executive Director

Tony Wolfe Non-Executive Director

Jon Young Non-Executive Director

Linda Hale Company Secretary

CORPORATE DETAILS

ASX: A1M www.aicmines.com.au ABN: 11 060 156 452 P: +61 (8) 6269 0110 F: +61 (8) 6230 5176 E: info@aicmines.com.au A: A8, 435 Roberts Rd, Subiaco, WA, 6008 Share Register: Computershare Investor Services

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New Exploration Project Acquisition

Capturing Belt-Scale Exploration Opportunities for Base and Precious Metals

AIC Mines Limited (ASX: A1M) (“AIC” or the “Company”) is pleased to announce that it has applied for two large exploration licences in western New South Wales that are prospective for both base and precious metals (the “Delamerian Project”). The applications offer belt-scale exploration opportunities in an emerging, underexplored province in a premier operating jurisdiction.

OVERVIEW

• The applications cover 4,280 km[2 ] comprising of a 1,936km[2] application over the northern end of the Koonenberry Belt east of Tibooburra and a further 2,344km[2] capturing a dominant position of the Loch Lilly-Kars Belt, southeast of Broken Hill.

• The applications represent a low-cost entry to a belt-scale exploration opportunity prospective for multiple deposits styles – namely mafic-ultramafic intrusive related Ni-Cu deposits, volcanogenic massive sulphide Cu-Zn-Pb deposits and felsic magmatic related Cu-Au deposits.

• The Delamerian Orogen represents a largely under-explored cratonic margin setting analogous to other highly endowed provinces in Australia, such as the Paterson Orogen and Albany-Fraser Orogen.

• The project provides an early-mover opportunity to leverage data currently being collected in the region by state and federal government geology departments and the federally funded MinEx Cooperative Research Centre.

Commenting on the applications, Managing Director Aaron Colleran said

“This new project is a valuable addition as we move to expand our exploration portfolio. It is an early-mover opportunity where government investment into unlocking exploration potential is underway. This will allow AIC to leverage off new regional datasets and mineral system knowledge.

We continue to look for new high-quality copper and gold exploration projects, from greenfields through to advanced stage, with the aim of building a balanced project pipeline.”

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Delamerian Project

AIC has applied for two large exploration licences in the Delamerian Orogen in western New South Wales. The applications encompass an area of 1,936km[2] at the northern end of the Koonenberry Belt, 60 kilometres east of Tibooburra (ELA6413) and an area of 2,344km[2] in the Loch Lilly-Kars Belt (ELA6414), 55 kilometres southeast of Broken Hill (see Figure 1).

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Figure 1. Delamerian Orogen and Project Locations

Geological Overview

The Delamerian Orogen comprises Late Neoproterozoic to Ordovician rock sequences stretching from eastern South Australian, through western New South Wales and Victoria to western Tasmania (Figure 1). It encompasses the remnants of an accretionary craton margin that hosts Late Neoproterozoic to Cambrian rift related mafic magmatism and Middle Cambrian to Early Ordovician felsic magmatism. The mineral potential of the orogen is well recognised in the areas where it outcrops – the Adelaide Fold Belt in South Australia, the Stavely Belt in Victoria and the Mount Read Volcanics in Tasmania – however large

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portions of the orogen are covered by younger basins, such as the Murray Basin. This has deterred exploration historically and has limited the understanding of the orogen’s full mineral potential.

The northern portion of the orogen is composed of the partially exposed Koonenberry Belt (Figure 2). In this region, ELA 6413 captures approximately 80 kilometres of strike of a covered extension of Late Neoproterozoic Kara Formation which hosts primitive mafic igneous intrusives of the Mt Arrowsmith Volcanics. The presence of extensive mafic/ultramafic sill complexes in craton margin sediments is considered analogous to settings that host large Ni-Cu -PGE sulphide systems globally (e.g. Albany Fraser Belt in Western Australia and the Circum-Superior Belt in Canada).

The southern application, ELA6414 covers approximately 150 kilometres of strike of the Loch Lilly-Kars Belt under the shallowing margins of the Murray Basin (Figure 2). The application has secured almost the entire Loch Lilly-Kars Belt. Based on geophysical and drill hole data, the belt is interpreted as consisting of geological sequences formed in a back-arc basin setting. These settings are known to host Volcanogenic Massive Sulphide (VMS) deposits. There is also evidence of felsic high-level subvolcanic intrusions, often associated with magmatic related copper deposits, and mafic intrusive complexes providing Ni-Cu-PGE potential. A series of major belt-scale faults are observable that would act as major fluid flow conduits during both early extensions and later deformation of the belt.

Proposed Exploration

The project represents a low cost entry into an emerging province. Initial work will focus on compilation and interpretation of existing geophysical and exploration data. This will then be integrated with the mineral potential data being collected by the Geological Survey of South Australia, together with the MinEx Cooperative Research Centre, as part of a multiyear precompetitive geoscience program aimed at both stimulating mineral exploration beneath the younger Murray Basin cover and unlocking the resource potential of the Delamerian Orogen. This initiative, along with supplementary precompetitive data collected by the Geological Survey of NSW, will provide learnings and insights into the geological constraints on mineral prospectivity translatable to the Delamerian Orogen in New South Wales.

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Figure 2. RTP magnetics with overlay showing outcropping Delamerian Orogen and surrounding tenement holders

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Authorisation

This announcement has been approved for issue by, and enquiries regarding this announcement may be directed to:

Aaron Colleran Managing Director info@aicmines.com.au

Forward-Looking Statements

This Announcement includes “forward-looking statements” as that term within the meaning of securities laws of applicable jurisdictions. Forward-looking statements involve known and unknown risks, uncertainties and other factors that are in some cases beyond AIC Mines’ control. These forward-looking statements include, but are not limited to, all statements other than statements of historical facts contained in this announcement, including, without limitation, those regarding AIC Mines’ future expectations. Readers can identify forward-looking statements by terminology such as “aim,” “anticipate,” “assume,” “believe,” “continue,” “could,” “estimate,” “expect,” “forecast,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “risk,” “should,” “will” or “would” and other similar expressions. Risks, uncertainties and other factors may cause AIC Mines’ actual results, performance, or achievements to differ materially from those expressed or implied by the forward-looking statements (and from past results, performance or achievements). These factors include, but are not limited to, the failure to complete the project in the time frame and within estimated costs currently planned; the failure of AIC Mines’ suppliers, service providers and partners to fulfil their obligations under supply and other agreements; unforeseen geological, physical or meteorological conditions, natural disasters or cyclones; changes in the regulatory environment, industrial disputes, labour shortages, political and other factors; the inability to obtain additional financing, if required, on commercially suitable terms; and global and regional economic conditions. Readers are cautioned not to place undue reliance on forward-looking statements. Although AIC Mines believes that its expectations reflected in these forward-looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward-looking statements.

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