RIEDEL RESOURCES LIMITED — Capital/Financing Update 2023

Sep 13, 2023

14th September 2023

INFILL DRILLING CONFIRMS FURTHER SHALLOW HIGH-GRADE GOLD AND SILVER ASSAYS AT THE KINGMAN PROJECT IN ARIZONA

Key Highlights:

• The first drill results for the South Tintic infill drilling returned substantial gold-silver intercepts.
• Significant results include:
  • o 1.52m @ 13.8 g/t Au, 223 g/t Ag, 4.60% Pb, 0.56% Zn from 67.06m in RC23TT023
  • o 0.76m @ 19.4 g/t Au, 18 g/t Ag, 0.45 % Pb, 0.31 % Zn from 54.1m in RC23TT017
  • o 2.28m @ 5.32 g/t Au, 21 g/t Ag, 0.22 % Pb, 0.11 % Zn from 70.87m in RC23TT017
  • o 2.28m @ 3.19 g/t Au, 17.7 g/t Ag, 0.83 % Pb, 0.92% Zn from 44.96m in RC23TT022
  • o 4.57m @ 3.54 g/t Au, 151 g/t Ag, 2.04% Pb, 1.61% Zn from 53.34m in RC23TT029
• Mineralisation remains open to the west, open down-dip to the east, and open along ~1.3km of strike to the southeast towards the Jim's prospect (noting mineralisation also remains open to the north as previously reported).
• Phase 3 infill drilling at Tintic to be finalised mid-September with regional drilling thereafter to test the Tintic Jim's structural Trend and other priority early-stage prospects.
• 52 holes for ~4,100 infill RC holes have been completed on a 20m x 20m and 40m x 20m pattern to provide robust inputs to be used for the Mineral Resource Estimate (MRE).
• The planned MRE remains on track for completion by the end of 2023.

Riedel CEO David Groombridge commented:

"Phase 1 and 2 drilling has been completed with further high-grade infill results returned from Tintic South.

______________________________________________________________________________

Results within holes RC23TT017 (i.e. 0.76m @ 19.4g/t Au from 54.1m and 2.28m @ 5.32g/t Au from 70.87m) and RC23TT023 (1.52m @c 13.8g/t Au and 223g/t Ag from 67m) signify high-grade mineralisation remains open up-dip to the east, with thicker intersections identified in the central zone of the lode (RC23TT029 and RC23TT030) adding strong confidence to the position and continuity of mineralisation, which also remains open down-dip.

Drilling is slated to conclude at Tintic in mid to late September with undrilled historical workings and conceptual targets to also be tested".

The Company looks forward to providing further updates as they come to hand, with final assay results scheduled to be received during October depending on laboratory results.

Riedel Resources Limited (ASX:RIE, Riedel or the Company) is pleased to provide an update on the Company's resource definition drilling at the Tintic prospect at the Kingman Project in northwest Arizona.

Tintic is the largest gold zone within the Kingman Project. Recent drilling has targeted the strike and down-dip extensions in the northern area of Tintic, in addition to resource infill drilling.

Significant new gold results in drilling are provide in Table 1 and Figures 1-5.

Figure 1: Infill drilling on cross section +280 (±10m looking NW). Mineralisation intersected in RC23TT017 and RC23TT016 is situated at depth indicating offset faulting to the west.

Figure 2: Quartz-iron oxide mineralisation in RC23TT017 between 177.5ft – 180ft (~54.1m-54.86m). Mineralisation in the oxide environment is visually evident due to the strong red colour of oxidised sulphides in contrast to the darker, biotite gneiss host rock.

Figure 3: Infill drilling on cross section +300 (±10m looking NW). Interpreted fault position inferred from the lower position of mineralisation observed in RC23TT023 and RC23TT018

Figure 3: Infill drilling on cross section +320 (±10m looking NW). RC23TT030 infilling mineralisation to an ~20m spacing on section. The interpreted fault position is inferred from mineralisation observed from historical drill holes 2022-KNG-20C and notable from 2022-CHL-071D which recorded 10.7m @ 2.98 g/t and 50g/t Ag from 92.2m.

Figure 4: Plan map of drill collars at the Tintic prospect.

Figure 5: Kingman Project with drill collars from announcement overlain on magnetic imagery and interpreted northwest structural trends that connect Tintic to Jim's.

Figure 8: Ground magnetic geophysical image across the Central group of prospects east of the town of Chloride highlighting a strong correlation observed between high-grade gold-silver mineralisation at Tintic, Jim's and Merrimac and high magnetic NW trending gabbro dykes.

Project Background

The Kingman Project is located in north-west Arizona, USA, approximately 90 minutes' drive from downtown Las Vegas and within 5km of a major highway (refer Map below).

The project area was mined predominantly for high-grade gold and silver from the 1880s until the early 1940s - which coincided with the outbreak of WWII. Following limited drilling near Tintic in the 1990's, 11 diamond holes were drilled on the property in late 2019 which intersected multiple zones of high-grade gold, silver, and lead from shallow depths, confirming the extensive mineralisation potential of the area (refer Riedel ASX announcement dated 23 October 2020). In 2021, Riedel completed more than 9,000m of RC at Tintic with another 20 diamond holes in 2022.

Figure 5: Location of the Kingman Project in Arizona, USA with major access routes through the area.

This announcement was approved for release by the Board of Directors of Riedel.

-ENDS-

This announcement has been authorised for release by the Riedel Board.

For further information please contact:

David Groombridge – CEO Riedel Resources Limited 4/6 Richardson St, West Perth, WA, 6005, Australia Tel: +61 (08) 9226 0866 admin@riedelresources.com.au

Competent Person Statement

The information in this announcement that relates to exploration results is based on information compiled by Mr David Groombridge, a Competent Person who is a Member the Australasian Institute of Mining and Metallurgy ("AusIMM"). Mr Groombridge is an employee and security holder of the Company and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Mineral Resources and Ore Reserves' (the "JORC Code"). Mr Groombridge consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

About Riedel Resources Limited

Riedel Resources Limited listed on ASX on 31 January 2011 and is an Australian-based exploration company focused on the exploration for gold, silver and base metals in Australia and Arizona, USA.

Further information can be found at the Company's website www.riedelresources.com.au

Previously released ASX Material References that relates to the Kingman Project includes:

Table 1: Drill Hole Collar Table

Hole ID	Hole Type	Max Depth(m)	Collar Easting(WGS84/UTMZone 11N)	Collar Northing(WGS84/UTMZone 11N)	Collar RL(WGS84/UTMZone 11N)	Dip (°)	Azimuth(WGS84/UTMZone 11N)
RC23TT016	RC	103.6	751587	3921664	1149	-60	260
RC23TT017	RC	91.4	751543	3921663	1147	-90	0
RC23TT018	RC	121.9	751596	3921642	1150	-60	260
RC23TT019	RC	112.8	751640	3921643	1146	-60	260
RC23TT020	RC	100.6	751603	3921592	1156	-70	260
RC23TT021	RC	106.7	751693	3921658	1151	-60	260
RC23TT022	RC	121.9	751700	3921682	1147	-60	260
RC23TT023	RC	121.9	751560	3921636	1150	-60	260
RC23TT024	RC	100.6	751577	3921586	1149	-70	260
RC23TT029	RC	70.1	751757	3921684	1151	-60	260
RC23TT030	RC	93.0	751792	3921649	1154	-60	260

Table 2: Significant new results (>0.5 g/t cut-off and 0.76m internal dilution)

Hole ID	DepthFrom (m)	Depth To(m)	DownholeWidth (m)	Au (g/t)	Ag (g/t)	Pb (ppm)	Zn (ppm)
RC23TT016	61.72	62.48	0.76	4.11	30.4	5,765	6,380
RC23TT016	84.58	86.11	1.53	0.61	18.67	202	397
RC23TT017	54.1	54.86	0.76	19.40	18.6	4,452	3,073
RC23TT017	70.87	73.15	2.28	3.97	19.65	1,619	1,070
RC23TT018	90.68	92.2	1.52	1.81	7.45	1,294	1,807
RC23TT019	32	32.76	0.76	0.96	2.4	709	1,411
RC23TT019	58.68	60.2	1.52	2.09	14.45	1,120	3,775
RC23TT020	NSA
RC23TT021	62.49	66.29	4.56	0.67	6.42	436	437
RC23TT021	72.39	73.15	0.76	1.42	1.4	73	122
RC23TT022	44.96	47.24	2.28	3.19	17.77	8,309	9,174
RC23TT022	80.77	81.53	0.76	1.44	72	1,236	1,591
RC23TT023	67.06	67.82	1.52	13.83	223.50	46,007	5,614
RC23TT023	78.49	79.25	0.76	0.976	5.8	218	479
RC23TT024	NSA
RC23TT029	53.34	57.91	4.57	3.54	150.91	20421	16057
RC23TT030	54.1	59.44	5.3	1.7	33.6	1002	3691

Section 1 Sampling Techniques and Data

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

Criteria	JORC Code explanation	Commentary
Samplingtechniques	•Nature and quality of sampling (e.g., cutchannels, random chips, or specificspecialised industry standardmeasurement tools appropriate to theminerals under investigation, such asdown hole gamma sondes, or handheldXRF instruments, etc.). These examplesshould not be taken as limiting the broadmeaning of sampling.•Include reference to measures taken toensure sample representivity and theappropriate calibration of anymeasurement tools or systems used.•Aspects of the determination ofmineralisation that are Material to thePublic Report.•In cases where 'industry standard' workhas been done this would be relativelysimple (e.g., 'reverse circulation drillingwas used to obtain 1m samples fromwhich 3 kg was pulverised to produce a30 g charge for fire assay'). In othercases, more explanation may be required,such as where there is coarse gold thathas inherent sampling problems. Unusualcommodities or mineralisation types (e.g.,submarine nodules) may warrantdisclosure of detailed information.	•All Reverse Circulation (RC) drilling and samplingwere undertaken in an industry standard manner.•Samples were collected in both dry and wet conditiondepending on ground conditions.•RC samples are collected through a rig mountedcyclone with mineralised intervals determined by ageologist and sampled on 2.5ft (0.76m) intervals.•Samples collected outside of mineralised zones werecollected by spear from 2.5ft sample intervals andcomposited over 5-10ft (1.52m-3.04m) intervals.•When samples were dry, samples are collectedthrough a rig mounted cyclone into a bucket which wastipped through a standalone riffle splitter.•When samples were wet, samples are collectedthrough a rig mounted cyclone into a rig mounted conesplitter.•Sample weights ranges from around 1-3kg.•The independent laboratory pulverises the entiresample for analysis as described below.•Industrypreparedindependentstandardsareinserted approximately 1 in 20 samples.•The independentlaboratorythentakesthesamples which are dried, split, crushed, and pulverizedprior to analysis as described below.•Sample sizes are considered appropriate for thematerial sampled.•Duplicate RC samples are collected from the drill rigcyclone, primarily within mineralised zonesequating to a 1:40 ratio.•The samples are considered representative andappropriate for this type of drilling.•RC samples are appropriate for use in a resourceestimate.
Drillingtechniques	•Drill type (e.g., core, reverse circulation,open-hole hammer, rotary air blast,auger, Bangka, sonic, etc) and details(e.g., core diameter, triple or standardtube, depth of diamond tails, facesampling bit or other type, whether core isoriented and if so, by what method, etc).	•RC holes were drilled by Harris Exploration (An EarthDrilling Company). The drill rig was a ForemostExplorer 1500 Reverse Circulation (RC) utilising a 5-inch bit and face sampling hammer.•
Drill samplerecovery	•Method of recording and assessing coreand chip sample recoveries and resultsassessed.•Measures taken to maximise samplerecovery and ensure representative natureof the samples.•Whether a relationship exists betweensample recovery and grade and whethersample bias may have occurred due topreferential loss/gain offine/coarse material.	•RC samples are routinely checked visually forrecovery, moisture, and contamination which isrecorded in a database.•Samples are considered representative with generallygood recovery. Deeper RC holes encountered water,with intervals that have less than optimal recoveryand possible contamination.•No sample bias is observed.
Logging	•Whether core and chip samples have beengeologically and geotechnically logged to alevel of detail to support appropriateMineral Resource estimation, miningstudies and metallurgical studies.•Whether logging is qualitative orquantitative in nature. Core (or costean,channel, etc) photography.•The total length and percentage of therelevant intersections logged.	•Geology logging is undertaken for the entire holerecording lithology, oxidation state, metadata,alteration, and veining.•RC sample quality data recorded includes recovery,sample moisture (i.e., whether dry, moist, wet orwater injected) and sampling methodology.•The logging process is appropriate to be used forMineral Resource Estimates and mining studies withadditional metallurgical test work to be completed.•All drillholes were logged in full.

Sub-samplingtechniques andsamplepreparation	•If core, whether cut or sawn and whetherquarter, half or all cores taken.•If non-core, whether riffled, tube sampled,rotary split, etc and whether sampled wetor dry.•For all sample types, the nature, qualityand appropriateness of the samplepreparation technique.•Quality control procedures adopted for allsub- sampling stages to maximiserepresentivity of samples.•Measures taken to ensure that thesampling is representative of the in-situmaterial collected, including for instanceresults for field duplicate/second-halfsampling.•Whether sample sizes are appropriate tothe grain size of the material beingsampled.	•RC sampling was carried out every 2.5ft (0.76m) by ariffle/cone splitter on a rig cyclone.•Within mineralised zones, 2.5ft (0.76m) calicosamples collected from the riffle/cone splitter weresubmitted for analysis.•In barren zones spear samples were collected at 5ft10ft (1.52m-3.04m) composites from the split portionof the sample using a 50mm PVC spear.•Holes were sampled over mineralised intervals togeological boundaries on a nominal 2.5ft (0.76m).•Field QAQC procedures involve the use ofcertified reference material (CRM) insertedapproximately 1 in 20 samples.•Each sample was dried, split, crushed, andpulverised.•Sample sizes are considered appropriate for the styleof mineralisation - narrow quartz-sulphide veins.•RC samples are appropriate for use in a MineralResource Estimate.
Qualityofassaydataand laboratorytests	•The nature, quality and appropriatenessof the assaying and laboratoryprocedures used and whether thetechnique is considered partial or total.•For geophysical tools, spectrometers,handheld XRF instruments, etc, theparameters used in determining theanalysis including instrument makeand model, reading times, calibrationsfactors applied and their derivation, etc.•Nature of quality control proceduresadopted (e.g., standards, blanks,duplicates, external laboratory checks) andwhetheracceptablelevelsofaccuracy (i.e., lack of bias) andprecision have been established.	•Samples were submitted to American AssayLaboratory (AAL) in Reno.•Au was analysed by Fire Assay fusion (30g) followedby ICP-AES finish.•Other elements analysed including Ag, As, Cu, Pb, Sand Zn underwent a 5-Acid digestion (hydrochloric,hydrofluoric, perchloric, nitric and sulphuric) followedby an by ICP-OES.•The techniques are considered quantitative in nature.•As discussed previously, CRMs were inserted by theCompany and the laboratory also carries out internalstandards in individual batches.•Sample preparation for fineness were carried by theAAL Laboratory as part of their internal procedures toensure the grind size of 90% passing 75 micron wasbeing attained.•Repeat or duplicate analysis for samples reveals thatprecision of samples is within acceptable limits.
Verification ofsampling andassaying	•The verification of significantintersections by eitherindependentoralternativecompany personnel.•The use of twinned drillholes.•Documentation of primary data, dataentry procedures,dataverification,datastorage (physical and electronic)protocols.•Discuss any adjustment to assay data.	•Significantintersectionshavenotbeenindependently verified.•No twinned holes have been completed.•Sample results have been synced by Companygeologists once logging completed into the cloudhosted MX Deposit database.•Assays from the laboratory are checked and verifiedby Riedel database administrator before uploading.•No adjustments have been made to assay data.•Results are reported on a length weighted basis.
Location ofdata points	•Accuracy and quality of surveys used tolocate drillholes(collaranddownholesurveys), trenches, mine workingsand other locations used in MineralResource estimation.•Specification of the grid system used.•Quality and adequacy of topographiccontrol.	•Drill collars have been picked up using a TrimbleRTX® R3 to an accuracy of +/- 50mm.•Drill holes completed by Harris were surveyed usingDownhole Surveys DeviGyro RG40 continuous RateGyro tool.•Azimuths are determined using a handheld Bruntoncompass.•Downhole surveys are uploaded to the MX Deposit,a cloud-based data management program wheresurveys are validated and approved by the geologist.•The grid projection is WGS 84 UTM zone 11N.•Diagrams and location table are provided in thereport.
Data spacinganddistribution	•Data spacing for reporting of ExplorationResults.•Whether the data spacing, anddistribution is sufficient to establish thedegree of geological and grade continuityappropriate for the Mineral ResourceandOreReserveestimationprocedure(s) and classifications applied.•Whether sample compositing has beenapplied.	•The RC program comprise drillhole spacings thatvary from 40m x 40m to 40m x 20m.•All holes have been geologically logged and providea strong basis for geological control and continuity ofmineralisation.•No Mineral Resource or Ore Reserve estimations arepresented.•No sample compositing has been applied except inthe reporting of drill intercepts, as described in thistable.

Orientation ofdatainrelationtogeologicalstructure	••	Whether the orientation of samplingachieves unbiased sampling of possiblestructures and the extent to which this isknown, considering the deposit type.If the relationship between the drillingorientation and the orientation of keymineralised structures is considered tohave introduced a sampling bias, thisshould be assessed and reported ifmaterial.	••	The orientation of drilling at Tintic is approximatelyperpendicular to the strike and dip of themineralisation where known. Sampling is thereforeconsidered representative of the mineralised zones.The chance of bias introduced by sample orientationis considered minimal.
Samplesecurity	•	The measures taken to ensure samplesecurity.	••••	Samples are collected by Company personnel incalico bags, which are in turn placed in plastic bags.Plastic bags are transferred into bulka bags fortransport which are secured on wooden pallets andtransported directly via road freight (FedExExpress) to the laboratory with a correspondingsubmission form and consignment note.The laboratory checks the samples received againstthe submission form and notifies the Company of anymissing or additional samples.Once the laboratory has completed the assaying, thepulp packets, pulp residues and coarse rejects areheld in the Laboratory's secure warehouse. Onrequest, the pulp packets are returned to the sitewarehouse on secure pallets where they arestored.
Auditsorreviews	•	The results of any audits or reviews ofsampling techniques and data.	•	No external audits or reviews have beenundertaken at this stage of the programme.

Section 2, Reporting of Exploration Results

Criteria	JORC Code explanation	Commentary
Mineraltenement andland tenurestatus	•Type, reference name/number, locationand ownership including agreements ormaterial issues with third parties such asjoint ventures, partnerships, overridingroyalties, native title interests, historicalsites, wilderness or national park andenvironmental settings.•The security of the tenure held at the timeof reporting along with any knownimpediments to obtaining a licence tooperate in the area.	•The drill holes were all drilled within the IAM MiningLLC claim group property which form part of a claimpackage subject to an Option Agreement with IAMMining LLC.•The IAM Mining LLC claims are administered by theBureau of Land Management and are in goodstanding. Riedel is unaware of any impediments toobtaining a licence to operate in the area.•Riedel Resources achieved $5m spend milestoneand has acquired 51% of Flagstaff Minerals (USA)Inc ("Flagstaff"). Refer to Riedel's ASXannouncement dated 28/03/2023.•Riedel is earning a 90% interest in Flagstaff via afurther $5m spend now underway. Refer to Riedel'sASX announcement dated 2/5/2023.•The claim package applicable to the Flagstaff OptionAgreement is set out below:SerialClaimSerialClaimNumberNameNumberName
		AZ101516860I AM 1AZ101425351I AM 34
		AZ101316818I AM 2AZ101340090I AM 35
		AZ101406876I AM 3AZ101511855I AM 36
		AZ101339923I AM 4AZ101403511I AM 37
		AZ101316809I AM 5AZ101404167I AM 38
		AZ101405302I AM 6AZ101421649I AM 39
		AZ101314485I AM 7AZ101318039I AM 40
		AZ101420442I AM 8AZ101406826I AM 41
		AZ102522653I AM 9AZ101422639I AM 42
		AZ101402896I AM 10AZ102523858I AM 43
		AZ101339892I AM 11AZ101420580I AM 44
		AZ101318006I AM 12AZ101405824I AM 45
		AZ101339447I AM 13AZ101421439I AM 46
		AZ101319368I AM 14AZ101512848I AM 47
		AZ101406920I AM 15AZ101407415I AM 48
		AZ101515450I AM 16AZ101424610I AM 49
		AZ101339457I AM 17AZ101512816I AM 50
		AZ101319021I AM 18AZ101425370I AM 51
		AZ101424116I AM 19AZ102524119I AM 52
		AZ101511779I AM 20AZ101408918I AM 53
		AZ101401081I AM 21AZ101422447I AM 54
		AZ101426248I AM 22AZ101420656I AM 55AZ102523845I AM 23AZ101319350I AM 56
		AZ101420709I AM 24AZ101408960I AM 57
		AZ101407531I AM 25AZ101339400I AM 58
		AZ101424661I AM 26AZ101511837I AM 59
		AZ101515632I AM 27AZ101404635I AM 60
		AZ101400723I AM 28AZ101424813I AM 61
		AZ101421012I AM 29AZ101317886I AM 62
		AZ101516889I AM 30AZ101340096I AM 63
		AZ101420643I AM 31AZ102524173I AM 64
		AZ101510611I AM 32AZ101423482TED 65
		AZ101407653I AM 33AZ101310610TED 66

Exploration	Acknowledgment and appraisal of exploration	•Historic production and exploration from the property
donebyother parties	by other parties.	as follows:Underground mining at Arizona Magma wasoconducted from the 1880's to 1942.The Merrimac mine was mined for Au/Ag/Pg/Znountil 1905.The Tintic mine was mine for Au/Ag/Pb/Zn ino1942.Drilling by Chandeleur Bay Resources at Tinticowas conducted in 1997.•None of the previous work is considered to be ofJORC standard.
Geology	•Deposit type, geological setting, and styleof mineralisation.	•The Kingman Project is located along the westernflank of the Paleoproterozoic (Cerbat Mountains of theMojave Province in northwest Arizona.•The Cerbat Mountains are a typical block‐faultedrange of the Basin and Range physiographic provinceof the southwestUnited States and consists ofSupracrustalmetasedimentaryandmetavolcanicrocks including pillow basalts, which have beenintruded by granitoidsincluding the Diana andChloride Granitoids.•Supracrustal rocks within the Cerbat Mountains weresubjected to two periods of metamorphism anddeformed at granulite facies and are represented byamphibolite's, migmatitic garnet-biotite schists, gneissquartzo-feldspathic gneisses, impure quartzite, andrate metachert and BIF. Granitoids have beendeformedintobiotite-andhornblendebearingquartzofeldspathic gneiss, with contacts and internalfabrics parallel to foliation within the enclosing wallrocks.•Cretaceousto Eocene (80-40Ma) granites wereintruded into the Cerbat Mountains during theLaramide Orogeny. These porphyry Cu-Mo intrusionsextend NW-SE from Sonora in Mexico to the MineralPark deposit situated 8km to the SE of Tintic and abutsthe Projects Claims.•Mineralisation within the Project consists of multipleNW-NNW striking, structurally controlled vein-systemsofIntermediatetoLow-SulphidationEpithermalcharacter. Mineralisation consists of quartz, sphalerite,galena and pyrite with associated gold and silver.
DrillholeInformation	•A summary of all information material tothe understanding of the explorationresults including a tabulation of thefollowing information for all Materialdrillholes:easting and northing of the drillholeocollarelevation or RL (Reduced Level –oelevation above sea level in metres) ofthe drillhole collardip and azimuth of the holeodown hole length and interceptionodepthhole length.o•If the exclusion of this information isjustified on the basis that the information isnot Material and this exclusion does notdetract from the understanding of thereport, the Competent Person shouldclearly explain why this is the case.	•Drill hole location and directional information providedwithin the body of the report and within Tables 1 and2.•All RC drilling is included in the plan view maps.
Dataaggregationmethods	•In reporting Exploration Results, weightingaveraging techniques, maximum and/orminimum grade truncations (e.g., cutting ofhigh grades) and cut-off grades are usuallyMaterial and should be stated.•Where aggregate intercepts incorporateshort lengths of high-grade results andlonger lengths of low-grade results, theprocedure used for such aggregationshould be stated and some typical	•Grades are reported as down-hole length weightedaverages.•Headline composite grades reported to a minimumcut-off grade of 0.5 g/t Au and maximum internaldilution of 2.5ft (0.76m).•Results in Annexure 3 and on figures arereported to a minimum cut-off grade of 0.5g/t Au andmaximum internal dilution of 2.5ft (0.76m).

	examples of such aggregations should beshown in detail.•The assumptions used for any reporting ofmetal equivalent values should be clearlystated	•No top-cuts have been applied to reporting ofassay results.
Relationshipbetweenmineralisationwidths andinterceptlengths	•These relationships are particularlyimportant in the reporting of ExplorationResults.•If the geometry of the mineralisation withrespect to the drillhole angle is known, itsnature should be reported.•If it is not known and only the down holelengths are reported, there should be aclear statement to this effect (e.g., 'downhole length, true width not known').	•The drill holes are interpreted to be approximatelyperpendicular to the strike of mineralisation.•All mineralised intervals reported are approximate, butarenottruewidth,as drilling isnotalwaysperpendicular to the strike/dip of mineralisation.•Reported mineralised intersections are estimates.•Confirmation of true widths will only be possible whenallresultsarereceived,andfinalgeologicalinterpretations have been completed.
Diagrams	•Appropriate maps and sections (withscales) and tabulations of interceptsshould be included for any significantdiscovery being reported. These shouldinclude, but not be limited to a plan view ofthe drillhole collar locations andappropriate sectional views.	•Plans and sections are provided in the main body ofthe report.
Balancedreporting	•Where comprehensive reporting of allExploration Results is not practicable,representative reporting of both low andhigh grades and/or widths should bepracticed avoiding misleading reporting ofExploration Results.	•All drill collar locations are shown in figures and allresults, including those with no significant assays, areprovided in the Original Announcement.•Drill holes with pending assays are also shown infigures.•The report is considered balanced and in context.
Othersubstantiveexplorationdata	•Other exploration data, if meaningful andmaterial, should be reported including (butnot limited to): geological observations;geophysical survey results; geochemicalsurvey results; bulk samples – size andmethod of treatment; metallurgical testresults; bulk density, groundwater,geotechnical and rock characteristics;potential deleterious or contaminatingsubstances.	•Drilling is currently underway and further details willbe reported in future releases when data is available.•All other meaningful and material data isreported.
Furtherwork	•The nature and scale of planned furtherwork (e.g., tests for lateral extensions ordepth extensions or large-scale step-outdrilling).•Diagrams clearly highlighting the areas ofpossible extensions, including the maingeological interpretations and future drillingareas, provided this information is notcommercially sensitive.	•The resource program at Tintic is currently underwaywith the focus at Tintic South aimed at extendingmineralisation at depth and laterally.•Upon receipt of outstanding assays from Tintic North,drilling will return to complete Phase 2 resourcedrilling targeting extensions to the northwest and upand down-dip.•Drilling at regional targets within the Project will alsooccur including testing the Tintic to Jim's structuraltrend.