RINCON RESOURCES LIMITED — Capital/Financing Update 2025

Jun 9, 2025

10 June 2025

Rincon granted option to Acquire “Crackerbox” - an Advanced WA Gold Project

HIGHLIGHTS

• A highly prospective gold project hosting two mineralised shear zones (“Double BIF Zone”) over a strike length of 19km within an Archean greenstone belt

• E51/2157 covers 62km[2] and is located approximately 90km north of Meekatharra in the Murchison Goldfield, Western Australia

• Multiple significant historic drilling results including:

• 13m at 2.53g/t from 9m (MUD)

  • Including 6m at 6.6g/t from 13m

• 14m at 1.52g/at Au from 64m (MTC003)

  • Including 4m at 3.8g/t Au from 67m

• 7m at 3.3g/t Au from 34m (MMC001)

  • Including 1m at 12.7g/t Au from 37m

• 8m at 1.7g/t Au from 107m (MMC002)

  • Including 1m at 7.1g/t Au from 110m

• Considerable historic untested drill targets. 6 x walk up drill prospects already identified

• Rock chip samples of up to 62g/t Au and 8.8% Cu

• Channel sampling of 2.5m at 22.7g/t Au

• Historic small-scale production averaged 19g/t Au

• Shear zone mineralisation remains open to the north, south and at depth

• Multiple processing opportunities within trucking distance of the project

• 100% Acquisition of the Crackerbox Project

• Additional approval of Application E 52/4466 will add a further 16 km[2 ] of tenure covering an additional ~4km to the northern extension of the Double BIF Zone

• Drone magnetic survey planned to provide greater structural control over the key areas

Rincon’s Exploration Director, Mike Griffiths commented:

“We see tremendous potential to define a considerable resource at Crackerbox, following further exploration, and we are excited to add this asset to our portfolio. We see considerable merit in the previous exploration efforts here, which have identified multiple high order gold targets in several locations with large areas of strike still to be investigated.

The last wave of exploration identified several very prospective anomalies including areas drilled, but open along strike. We also see the benefit of leveraging off the earlier work that we considered to be unfinished.

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ASX Announcement 10 June 2025

We will be looking to complete our detailed due diligence over the coming weeks to enable exploration activity in the coming months and we are well underway collating the historical data.

Meanwhile, Rincon is continuing work at our Laverton and Telfer South projects. Permitting is well advanced, and contract support has been engaged to action the work programs and the Company also is planning additional heritage surveys to allow timely access to our portfolio into the future.”

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Figure 1 – Crackerbox Gold Project Location Map

Rincon Resources Limited (ASX: RCR) ( “Rincon” or “Company” ) is pleased to announce that it has entered a binding term sheet pursuant to which it has been granted an option to acquire 100% of the Crackerbox Gold Project, situated approximately 90km north of Meekatharra in the Murchison Gold Field, Western Australia.

The project area covers two mineralised Archaean shear zones extending over 19km of strike. The greenstone unit is constrained by Archaean granitic intrusions (both east and west) with evidence of several episodes of complex faulting and folding providing a very attractive location for gold and copper mineralisation.

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Background

The Crackerbox Gold Project is situated in Western Australia at a major geological collision plate tectonic boundary between the Pilbara and Yilgarn Cratons and the junction of the Yilgarn Craton (Archean) and the Capricorn Orogen Belt (Proterozoic). This geological setting is highly prospective for both gold and copper mineralisation.

The Project covers almost all of Mt Maitland Greenstone Belt in the world class Murchison province in the mid-west of Western Australia. The belt extends for approximately 23 km x 4 km and is represented by the Maitland synformal structure which is the northernmost greenstone belt of the Yilgarn Craton. The interposed regional and local faulting has provided the ground preparation for the deposition of economic mineralisation.

Exploration since the 1960’s has uncovered several prospects across the Crackerbox project, focusing on two major regional structures. Historical activities included surface geochemical sampling, limited drill testing, and artisanal mining. Exploration conducted by Talisman Mines in 2011, yielded promising drill intercepts including 13m at 2.53 g/t Au from 9m, including 6m at 6.6 g/t Au (MUDC008). Comprehensive geochemical sampling programs also revealed anomalies across the project area, with soil samples and rock chips highlighting its mineralisation potential.

The central portion of the eastern structure is marked by historical gold shows worked since the late 1800’s, including areas such as Maitland North, Lenanphyl, Muddawerrie, and Second Chance (Figure 2). Artisanal mining involved shallow pits, shafts, and stopes that uncovered high-grade gold deposits. Rock chip sampling from these areas returned significant results, indicating the presence of extensive gold systems. Gold-in-soil anomalies extend for over 13km along key structures, with elevated values (>5ppb gold) demonstrating the scale and richness of these sites.

On the western structure, historical exploration identified high-grade copper-gold anomalies through rock chip and channel sampling. Notable results include 2.5m at 22.7 g/t Au at Maitland North and 0.75m at 53.4 g/t Au at Maitland South, along with rock chip results exceeding 10 g/t Au. Soil and rock chip analyses also revealed anomalous copper values (up to 8.82% Cu) at Jacia South. The western structure shows significant mineralisation potential but remains largely unexplored.

The main gold zone at Mt Maitland South features vertically dipping mineralised structures extending over 440m. It remains open to the south, where further exploration could reveal possible extension to the current mineralisation. Talisman’s drilling program focused on this area yielding results such as 1m at 12.7 g/t Au and 1m at 7.1 g/t Au, highlighting the possibility of a high-grade system. Despite the promising results, much of the project remains underexplored, offering substantial opportunities for further investigation.

The location of the Crackerbox project - just 51km from WestGold Resources' (ASX: WGX) Fortnum Gold Project—presents opportunities for toll processing scenarios. Positive resource development could even support a standalone processing plant. The project area displays widespread mineralisation potential, with six walk-up drill prospects identified.

In 2020 exploration by Red Mountain Mining (“RMX”) included geological mapping, which helped define targets for drilling. Findings showed that gold mineralisation occurs within narrow vein-breccia stock-work, clusters along shears, and dilatational structures created by geological displacement. Rock chip sampling during this survey returned promising results, affirming the project’s mineralisation potential.

In November 2020, RMX carried out 27 RC drill holes totalling approximately 1,850m across four primary targets: Mt Maitland South, Lenanphyl, Second Chance South, and Jacia. Significant assay results for Mt Maitland South included:

• MMC001: 7m at 3.3 g/t Au (34–41m), including 1m at 12.7 g/t Au (37–38m)

• MMC002: 8m at 1.7 g/t Au (107–115m), including 1m at 4.8 g/t Au (107–108m) and 1m at 7.1 g/t Au (110–111m)

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ASX Announcement 10 June 2025

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Figure 2 – Prospect Locations

These results indicate a potential high-grade system open down dip, and along strike with additional shallow mineralisation zones.

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ASX Announcement 10 June 2025

Drilling also targeted other prospects:

• Lenanphyl: A weathered sheared package of Banded Iron Formation and mafic schist, with zones of magnetite-silica alteration containing disseminated sulphides. Twelve RC holes were drilled multiple mineralised intercepts.

• Second Chance South: A structural target featuring fresh rock close to the surface, including basalts, schist, and quartz veins bearing minor sulphides. The first holes drilled at Second Chance delivered the following results:

• MMC010 – 4m at 1.28g/t Au from 4m

• MMC014 – 1m at 1.41g/t Au from 57m

• Jacia: A single diamond drillhole JD01, drilled to 320.11m returned multi-element anomaly hosted within sheared basalts showing silicified quartz breccia and minor sulphides. No significant results were returned.

The Crackerbox Gold project highlights the opportunity for developing high-grade, near-surface mineralisation that could provide early cash flow and support further resource expansion. With historical exploration results, promising drill intercepts, and the proximity to established facilities, Crackerbox demonstrates strong potential for significant resource development.

Acquisition Terms

Rincon is acquiring the Crackerbox Gold Project (E51/2157) from Mining Equities Pty Ltd with the Application (E52/4466) to be transferred to Rincon on grant by DMIRS (together, “the Tenements”).

Key Terms :

Subject to a 60-day exclusive Option period:

• Option Fee Payment of $50,000 within 5 business days of execution

On exercise of the Option:

• Payment of $300,000 cash;

• Issue of 23,000,000 fully paid ordinary shares in the Company; and

• A net smelter royalty (NSR) of 1.00% with respect to the Tenements.

Completion of the acquisition is subject to the satisfaction of standard conditions precedent.

Tenements

Tenement	Holder	Status	Date of application	Date of grant	Date of Expiry	Size (BL)
E51/2157	Mining Equities Pty Ltd	Granted	08/05/2023	15/03/2024	14/03/2029	19
E52/4466	Mining Equities Pty Ltd	Application	15/05/2023	-	-	10

----ENDS----

Authorised by the Board of Rincon Resources Limited.

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ASX Announcement 10 June 2025

For more information visit www.rinconresources.com.au or contact:

Company:

Office: Tel: +61 (8) 6555 2950

Mike Griffiths - Director

Email: mike.griffiths@rinconresources.com.au

David Lenigas - Chairman

Email: davidlenigas@gmail.com

About Rincon:

Rincon has 100% interest in three exploration assets in Western Australia that are highly prospective for copper, gold and other critical metals required for the energy transition. These are the South Telfer Project, West Arunta Project, and the Laverton Project.

Each asset has previously been subject to historical exploration which has identified prospective mineral systems that warrant further exploration. The Company’s aim is to create value for its shareholders by advancing its assets through the application of technically sound, methodical, and systematic exploration programs to test, discover, and delineate economic resources for mining.

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Crackerbox Gold Project
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Competent Person Statements

Mr Michael Griffiths

The information in this report that relates to Exploration Results is based on information compiled by Mr Michael Griffiths a Competent Person who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr. Griffiths is a Director of the Company. Mr. Griffiths 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 Exploration Results, Mineral Resources and Ore Reserves”. Mr. Griffiths consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

Forward-Looking Statements

This announcement may contain certain forward-looking statements and opinions. Forward-looking statements, including projections, forecasts and estimates, are provided as a general guide only and should not be relied on as an indication or guarantee of future performance and involve known and unknown risks, uncertainties, assumptions, contingencies and other important factors, many of which are outside the control of the Company and which are subject to change without notice and could cause the actual results, performance or achievements of the Company to be materially different from the future results, performance or achievements expressed or implied by such statements. Past performance is not necessarily a guide to

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ASX Announcement 10 June 2025

future performance and no representation or warranty is made as to the likelihood of achievement or reasonableness of any forward-looking statements or other forecast. Nothing contained in this announcement, nor any information made available to you is, or and shall be relied upon as, a promise, representation, warranty or guarantee as to the past, present or the future performance of Rincon.

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Appendix 1: Historic Drilling with Significant Intercepts

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Hole ID Hole Prospect Company MGA MGA Dip Azi Total Significant Intercept
Type East North Depth
MMC001 RC Maitland South Red Mountain 601520 7148780 -60 270 77 7m @ 3.3 g/t Au from 34m incl
1m @ 12.7 g/t Au from 37m
MMC002 RC Maitland South Red Mountain 601548 7148723 -65 270 125 8m @ 1.7 g/t Au from 107m
incl 1m @ 4.8 g/t Au from
107m and 1m @ 7.1g/t Au
from 110m
MMC003 RC Maitland South Red Mountain 601523 7148740 -60 270 58 NSR
MMC004 RC Maitland South Red Mountain 601540 7148701 -60 270 83 NSR
MMC005 RC Lenanphyl Red Mountain 602850 7150719 -60 270 109 4m @ 0.42 g/t Au from 64m
MMC006 RC Lenanphyl Red Mountain 602865 7150683 -60 270 109 4m @ 0.77 g/t Au from 66m
MMC007 RC Lenanphyl Red Mountain 602846 7150638 -60 270 100 17 m @ 0.0.43 g/t Au from
29m
MMC008 RC Second Red Mountain 602705 7146353 -60 270 59 NSR
Chance
MMC009 RC Second Red Mountain 602730 7146354 -60 270 59 NSR
Chance
MMC010 RC Second Red Mountain 602756 7146355 -60 270 59 4m @ 1.28 g/t Au from 4m
Chance
MMC011 RC Second Red Mountain 602780 7146354 -60 270 59 NSR
Chance
MMC012 RC Second Red Mountain 602951 7146353 -60 270 59 NSR
Chance
MMC013 RC Second Red Mountain 602976 7146354 -60 270 59 NSR
Chance
MMC014 RC Second Red Mountain 603002 7146355 -60 270 59 1m @ 1.41 g/t Au from 57m
Chance
MMC015 RC Second Red Mountain 603025 7146354 -60 270 59 NSR
Chance
MMC016 RC Second Red Mountain 603051 7146354 -60 270 59 NSR
Chance
MMC017 RC Lenanphyl Red Mountain 602675 7151262 -60 270 59 NSR
MMC018 RC Lenanphyl Red Mountain 602699 7151250 -60 270 59 NSR
MMC019 RC Lenanphyl Red Mountain 602724 7151251 -60 270 59 NSR
MMC020 RC Lenanphyl Red Mountain 602748 7151251 -60 270 59 4m @ 0.87 g/t Au from 12m
MMC021 RC Lenanphyl Red Mountain 602773 7151253 -60 270 59 4m @ 0.46 g/t Au from 32m
MMC022 RC Lenanphyl Red Mountain 602798 7151253 -60 270 59 NSR
MMC023 RC Lenanphyl Red Mountain 602824 7151254 -60 270 59 NSR
MMC024 RC Lenanphyl Red Mountain 602849 7151254 -60 270 59 NSR
MMC025 RC Lenanphyl Red Mountain 602873 7151255 -60 270 59 NSR
MMC026 RC Jacia Red Mountain 601097 7148005 -60 270 56 NSR
MMC027 RC Jacia Red Mountain 601125 7148018 -60 270 71 NSR
JD001 DDH Jacia Red Mountain 601211 7148800 -60 270 320.1
MSD001 DDH Maitland South Red Mountain 601657 7148799 -60 270 399.1
MRC02 RC Mt Maitland Pancontinental 602771 7150682 -60 70 76 3m @ 0.104 g/t Au from 65m
North 3m @ 0.35 g/t Au from 73m
Hole ended in mineralisation
MRC03 RC Mt Maitland Pancontinental 602879 7150698 -60 250 76 5m @ 0.71 g/t Au from 44m
North incl 2m @ 1.11 g/t Au from
44m
MRC04 RC Mt Maitland Pancontinental 602854 7150671 -60 250 76
North
MTC001 RC Mt Maitland Talisman 601462 7148716 -60 270 80
South
MTC002 RC Mt Maitland Talisman 601504 7148717 -60 270 80 8m @ 0.69 g/t Au from
South surface
MTC003 RC Mt Maitland Talisman 601538 7148721 -60 273 80 14m @ 1.52 g/t Au from 64m
South incl 4m @ 3.8g/t Au from 67m
MTC004 RC Mt Maitland Talisman 601469 7148808 -60 270 80
South
MTC005 RC Mt Maitland Talisman 601505 7148791 -60 270 80 10m @ 0.65g/t from 14m
South
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ASX Announcement 10 June 2025

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Hole ID Hole Prospect Company MGA MGA Dip Azi Total Significant Intercept
Type East North Depth
incl. 2m @ 1.01 g/t Au from
18m
MTC006 RC Mt Maitland Talisman 601551 7148791 -60 270 80
South
MTC007 RC Muddawerrie Talisman 602742 7151290 -60 270 60 10m @ 0.56 g/t Au from 9m
BIF incl. 2m @ 1.53 g/t Au from
13m
MTC008 RC Muddawerrie Talisman 602767 7151289 -60 270 80 8m @ 0.41g/t Au from 26m
BIF
MTC009 RC Muddawerrie Talisman 602782 7151290 -60 270 85 4m @ 0.64 g/t Au from 8m
BIF 4m @ 0.11 g/t Au from 32m
MTC010 RC Muddawerrie Talisman 602755 7151212 -60 270 60 1m @ 0.19 g/t Au from 34m
BIF
MTC011 RC Muddawerrie Talisman 602774 7151209 -60 270 44 5m @ 0.5 g/t Au from 32m
BIF 3m @ 0.17 g/t Au from 41 m
MTC012 RC Muddawerrie Talisman 602784 7151209 -60 270 90 4m @ 0.34 g/t Au from 43m
BIF 1m @ 0.21 g/t Au from 57m
1m @ 0.3 g/t Au from 59m
MUDC0 RC Mt Maitland Talisman 602737 7150643 -60 90 154
01 North
MUDC0 RC Mt Maitland Talisman 601557 7148860 -60 270 148
02 South
MUDC0 RC Mt Maitland Talisman 601538 7148870 -60 270 142
03 South
MUDC0 RC Mt Maitland Talisman 601505 7148781 -60 270 106 14m @ 0.49 g/t Au from 34m
04 South
MUDC0 RC Maitland Talisman 601445 7148551 -60 100 172 1m @ 1.28 g/t Au from 117m
05 1m @ 1.4 g/t Au from 131m
21m @ 0.72 g/t Au from 145m
incl. 11m @ 1.01 g/t Au from
151m
MUDC0 RC Maitland Talisman 601485 7148568 -60 90 106 1m @ 3.61 g/t Au from 45m;
06 3m @ 1.54g/t Au from 53m;
3m @ 0.84 g/t Au from 74m;
2m @ 0.71 g/t Au from 89m
MUDC0 RC Mt Maitland Talisman 601445 7148696 -60 90 150
07 South
MUDC0 RC Mt Maitland Talisman 601494 7148699 -60 90 64 13m @ 2.53 g/t Au from 9m
08 South incl 6m @ 6.6 g/t Au from
13m;
1m @ 0.23 g/t Au from 23m;
1m @ 2.19 g/t Au from 39m
MUDC0 RC Jacia Talisman 601083 7148167 -60 90 52 2m @ 0.19 g/t Au from 12m
09
MUDC0 RC Lenanphyl Talisman 602734 7150783 -60 270 148
10 North
MUDC0 RC Lenanphyl Talisman 602523 7151712 -60 90 80 2m @ 0.10 g/t Au from 4m
11 North
MUDC0 RC Lenanphyl Talisman 602596 7151762 -60 240 80 2m @ 0.35 g/t Au from 70m
12 North
MUDC0 RC Lenanphyl Talisman 602688 7151783 -60 240 80
13 North
MUDC0 RC Lenanphyl Talisman 602738 7151806 -60 240 80
14 North
MUDC0 RC Second Talisman 602733 7147879 -60 270 40
15 Chance
MUDC0 RC Second Talisman 602898 7147872 -60 273 40
16 Chance
MUDC0 RC Second Talisman 603052 7147877 -60 270 40
17 Chance
MUDC0 RC Second Talisman 603203 7147875 -60 270 40
18 Chance
MUDC0 RC Lenanphyl Talisman 602732 7150946 -60 84 112 3m @ 0.4 g/t Au from 28m;
19 1m @ 0.49 g/t Au from 40m
2m @ 0.17 g/t Au from 44m
MRAB0 RAB Mt Maitland NCR 602790 7150612 -60 250 34
5 North
MRAB0 RAB Mt Maitland NCR 602835 7150632 -60 250 37
6 North
MRAB0 RAB Mt Maitland NCR 602886 7150650 -60 250 40 12m @ 0.38 g/t Au from 4m
7 North
MRAB0 RAB Mt Maitland NCR 602712 7150760 -60 250 40
8 North
MRAB0 RAB Mt Maitland NCR 602756 7150778 -60 250 40 10m @ 0.19 g/t Au from
9 North surface
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Hole ID Hole Prospect Company MGA MGA Dip Azi Total Significant Intercept
Type East North Depth
MRAB1 RAB Mt Maitland NCR 602798 7150795 -60 250 40 2m @ 0.22g/t Au from 36m
0 North
MRAB1 RAB Mt Maitland NCR 602839 7150814 -60 250 40
1 North
RAB001 RAB Second Metex 602606 7147677 -60 270 28
Chance
RAB002 RAB Second Metex 602632 7147681 -60 270 40
Chance
RAB003 RAB Second Metex 602658 7147685 -60 270 40 6m @ 0.37 g/t Au from
Chance surface
6m @ 0.11 g/t Au from 30m
RAB004 RAB Second Metex 602680 7147690 -60 270 35
Chance
RAB005 RAB Second Metex 602703 7147695 -60 270 50
Chance
RAB006 RAB Second Metex 602730 7147701 -60 270 50
Chance
RAB007 RAB Second Metex 602763 7147707 -60 270 40
Chance
RAB008 RAB Second Metex 602785 7147711 -60 270 40
Chance
RAB009 RAB Second Metex 602805 7147713 -60 270 40 6m @ 0.19 g/t Au from 12m
Chance
RAB010 RAB Second Metex 602827 7147719 -60 270 40
Chance
RAB011 RAB Second Metex 602854 7147723 -60 270 40
Chance
RAB012 RAB Second Metex 602876 7147727 -60 270 40
Chance
RAB013 RAB Second Metex 602902 7147729 -60 270 40
Chance
RAB014 RAB Second Metex 602929 7147736 -60 270 40
Chance
RAB015 RAB Second Metex 602747 7147911 -60 270 40
Chance
RAB016 RAB Second Metex 602772 7147914 -60 270 40
Chance
RAB017 RAB Second Metex 602794 7147917 -60 270 40
Chance
RAB018 RAB Second Metex 602817 7147921 -60 270 40
Chance
RAB019 RAB Second Metex 602839 7147924 -60 270 40
Chance
RAB020 RAB Second Metex 602866 7147930 -60 270 40
Chance
RAB021 RAB Second Metex 602892 7147935 -60 270 40
Chance
RAB022 RAB Second Metex 602962 7147534 -60 270 40
Chance
RAB023 RAB Second Metex 602939 7147531 -60 270 40
Chance
RAB024 RAB Second Metex 602914 7147525 -60 270 40
Chance
RAB025 RAB Second Metex 602886 7147520 -60 270 40
Chance
RAB026 RAB Second Metex 602864 7147517 -60 270 40
Chance
RAB015 RAB Second Metex 602747 7147911 -60 270 40
Chance
RAB016 RAB Second Metex 602772 7147914 -60 270 40
Chance
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Appendix 2: Historical Rock and Channel Samples

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Sample ID Source Company Prospect MGA MGA Au Comment
Report East North (g/t)
15570 A21313 Pancontinental Maitland 601470 7148850 0.12 Approximate coordinates
North
15571 A21313 Pancontinental Maitland 601470 7148850 0.79 Approximate coordinates
North
15572 A21313 Pancontinental Maitland 601470 7148850 3.28 Bottom of main shaft, approximate
North coordinates
15574 A21313 Pancontinental Maitland 601470 7148850 0.12 Approximate coordinates
North
15575 A21313 Pancontinental Maitland 601470 7148850 1.77 Approximate coordinates
North
15578 A21313 Pancontinental Maitland 602812 7150668 56.6 Channel Samples, Maitland North.
North Combined length 2,5m, combined grade
15579 A21313 Pancontinental Maitland 602811 7150668 5.46 22.7g/t gold
North
15580 A21313 Pancontinental Maitland 602810 7150668 19.85
North
20731 A21313 Pancontinental Maitland 602776 7150809 0.52
North
20781 A21313 Pancontinental Maitland 602812 7150654 0.01
North
20782 A21313 Pancontinental Maitland 602812 7150653 0.044
North
20783 A21313 Pancontinental Maitland 602812 7150651 0.12
North
20784 A21313 Pancontinental Maitland 602809 7150653 0.086
North
20785 A21313 Pancontinental Maitland 602812 7150660 7.76 Channel Sample, Maitland North
North
20786 A21313 Pancontinental Maitland 602812 7150663 3.65 Channel Sample, Maitland North
North
20787 A21313 Pancontinental Maitland 602811 7150665 0.315 Channel Sample, Maitland North
North
20788 A21313 Pancontinental Maitland 602809 7150668 6
North
20789 A21313 Pancontinental Maitland 602812 7150667 0.13
North
20790 A21313 Pancontinental Maitland 602791 7150746 1.13
North
20791 A21313 Pancontinental Maitland 602789 7150761 0.91
North
20792 A21313 Pancontinental Maitland 602800 7150660 0.067 Approximate coordinates
North
20793 A21313 Pancontinental Maitland 602800 7150660 0.52 Approximate coordinates
North
20794 A21313 Pancontinental Maitland 602800 7150660 0.006 Approximate coordinates
North
20795 A21313 Pancontinental Maitland 602825 7150660 1.13 Channel Sample
North
39803 A21313 Pancontinental Maitland 602800 7150680 1.35 Channel Sample, approximate coordinates
North
101 A24835 NCR Maitland 601500 7150600 0.58 Approximate coordinates
102 A24835 NCR Maitland 601500 7150600 1.88 Approximate coordinates
103 A24835 NCR Maitland 601500 7150600 0.34 Approximate coordinates
104 A24835 NCR Maitland 601500 7150600 0.8 Approximate coordinates
105 A24835 NCR Maitland 601500 7150600 0.06 Approximate coordinates
106 A24835 NCR Maitland 601500 7150600 0.04 Approximate coordinates
107 A24835 NCR Maitland 601500 7150600 0.06 Approximate coordinates
108 A24835 NCR Maitland 601502 7148563 23.35 Approximate coordinates from plan
109 A24835 NCR Maitland 601500 7150600 0.64 Approximate coordinates
110 A24835 NCR Maitland 601500 7150600 1.92 Approximate coordinates
111 A24835 NCR Maitland 601500 7150600 0.88 Approximate coordinates
112 A24835 NCR Maitland 601500 7150600 2.08 Approximate coordinates
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Sample ID Source Company Prospect MGA MGA Au Comment
Report East North (g/t)
113 A24835 NCR Maitland 601500 7150600 0.16 Approximate coordinates
114 A24835 NCR Maitland 601500 7150600 0.1 Approximate coordinates
115 A24835 NCR Maitland 601500 7150600 0.42 Approximate coordinates
116 A24835 NCR Maitland 601500 7150600 0.54 Approximate coordinates
117 A24835 NCR Maitland 601500 7150600 0 Approximate coordinates
118 A24835 NCR Maitland 601468 7148806 28.35 Approximate coordinates
119 A24835 NCR Maitland 601500 7150600 0.06 Approximate coordinates
120 A24835 NCR Maitland 601470 7148880 61.6 Approximate coordinates
121 A24835 NCR Maitland 601500 7150600 0.54 Approximate coordinates
122 A24835 NCR Maitland 601500 7150600 0.06 Approximate coordinates
123 A24835 NCR Maitland 601500 7150600 0.04 Approximate coordinates
124 A24835 NCR Maitland 601500 7150600 0 Approximate coordinates
125 A24835 NCR Maitland 601500 7150600 0 Approximate coordinates
126 A24835 NCR Maitland 601500 7150600 0 Approximate coordinates
127 A24835 NCR Maitland 601500 7150600 0 Approximate coordinates
128 A24835 NCR Maitland 601500 7150600 0 Approximate coordinates
129 A24835 NCR Maitland 601500 7150600 0 Approximate coordinates
130 A24835 NCR Maitland 601500 7150600 0 Approximate coordinates
131 A24835 NCR Maitland 601500 7150600 0 Approximate coordinates
132 A24835 NCR Maitland 601248 7148927 21.7 Approximate coordinates
133 A24835 NCR Maitland 601500 7150600 0.5 Approximate coordinates
134 A24835 NCR Maitland 601500 7150600 0.94 Approximate coordinates
135 A24835 NCR Maitland 601500 7150600 0.4 Approximate coordinates
136 A24835 NCR Maitland 601500 7150600 0.12 Approximate coordinates
137 A24835 NCR Maitland 601500 7150600 2.08 Approximate coordinates
138 A24835 NCR Maitland 601500 7150600 0.04 Approximate coordinates
139 A24835 NCR Maitland 601500 7150600 0 Approximate coordinates
140 A24835 NCR Maitland 601500 7150600 0.1 Approximate coordinates
141 A24835 NCR Maitland 601500 7150600 0.46 Approximate coordinates
142 A24835 NCR Maitland 601500 7150600 0 Approximate coordinates
143 A24835 NCR Maitland 601500 7150600 0 Approximate coordinates
144 A24835 NCR Maitland 601500 7150600 0.14 Approximate coordinates
145 A24835 NCR Maitland 601500 7150600 0.08 Approximate coordinates
146 A24835 NCR Maitland 601500 7150600 4.1 Approximate coordinates
147 A24835 NCR Maitland 601500 7150600 25.75 Approximate coordinates
148 A24835 NCR Maitland 601500 7150600 1.96 Approximate coordinates
149 A24835 NCR Maitland 601500 7150600 0 Approximate coordinates
150 A24835 NCR Maitland 601500 7150600 0 Approximate coordinates
151 A24835 NCR Maitland 601500 7150600 0 Approximate coordinates
152 A24835 NCR Maitland 601500 7150600 0 Approximate coordinates
153 A24835 NCR Maitland 601500 7150600 0 Approximate coordinates
154 A24835 NCR Maitland 601500 7150600 0 Approximate coordinates
155 A24835 NCR Maitland 601500 7150600 0.02 Approximate coordinates
156 A24835 NCR Maitland 601500 7150600 0 Approximate coordinates
157 A24835 NCR Maitland 601500 7150600 0 Approximate coordinates
AMS151 A24835 NCR Maitland 602810 7150665 5.14 Across 1.04m wide reef left as pillar
North
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Sample ID Source Company Prospect MGA MGA Au Comment
Report East North (g/t)
AMS152 A24835 NCR Maitland 602810 7150800 1.07 Reef 85mm wide
North
AMS153 A24835 NCR Maitland 601473 7148862 53.4 On edge of stope to surface - reef 75cm
South wide
AMS154 A24835 NCR Maitland 601475 7148750 1.08 Reef 72cm wide
South
AMS155 A24835 NCR Maitland 601475 7148450 0.31 Reef 2500m wide
North
AMS156 A24835 NCR Maitland 601475 7148540 0.1 Reef 80cm wide - a parallel reef
North
AMS157 A24835 NCR Maitland 601475 7148620 0.72 Grab from dump around deep shaft reef ~
North 80cm
AMS158 A24835 NCR Maitland 601475 7148640 0.23 Parallel reef 99cm wide
North
MT1094 A75939 Talisman 601840 7147820 0.02
MT1100 A75939 Talisman 601736 7148384 0.01
MT2006 A75939 Talisman Jacia 601059 7148173 1.31 Also 8.82% Cu, 0.68% Zn
South
MT2007 A75939 Talisman 603158 7142992 0.01
MT2948 A75939 Talisman 600860 7150400 0.005 BIF/QTZ
MT2949 A75939 Talisman 600900 7150400 0.16 BIF/QTZ
MTR001 A75939 Talisman Maitland 601202 7148586 7.59 Msc/pyr
South
MUDF000001 A93743 Talisman 601512 7148533 0.01 1st sample of face sampling from Azi=278
DIP=04 Depth=3.15m Sample length 0.7m
MUDF000002 A93743 Talisman 601512 7148533 0.31 0.7m
MUDF000003 A93743 Talisman 601512 7148533 2.55 0.5m
MUDF000004 A93743 Talisman 601512 7148533 0.76 0.45m
MUDF000005 A93743 Talisman 601512 7148533 0.02 0.8m Last sample
MUDF000006 A93743 Talisman 602814 7150641 0.05 1st sample of face sampling from Azi=354
Sample length 0.9m
MUDF000007 A93743 Talisman 602814 7150641 0.07 Sample length 0.4m
MUDF000008 A93743 Talisman 602814 7150641 0.02 Sample length 0.3m
MUDF000009 A93743 Talisman 602814 7150641 0.14 Sample length 0.2m
MUDF000010 A93743 Talisman 602814 7150641 0.01 Sample length 0.8m
MUDF000011 A93743 Talisman 602814 7150641 0.07 Sample length 0.2m
MUDF000012 A93743 Talisman 602814 7150641 0.01 Sample length 0.4m
MUDF000013 A93743 Talisman 602814 7150641 0.01 Sample length 0.4m last sample
MUDF000014 A93743 Talisman 602815 7150642 0.07 1st sample of face sampling from Azi=240
Sample length 0.4m
MUDF000015 A93743 Talisman 602815 7150642 2.31 Sample length 0.3m
MUDF000016 A93743 Talisman 602815 7150642 1 Sample length 0.2m
MUDF000017 A93743 Talisman 602815 7150642 0.05 Sample length 0.1m Laterite developed at
depth
MUDF000018 A93743 Talisman 602815 7150642 0.18 Sample length 0.7m
MUDX000001 A93743 Talisman 601525 7148456 0.02
MUDX000002 A93743 Talisman 601528 7148431 0.01 Chip sample, vein in east side of working
MUDX000003 A93743 Talisman 601499 7148446 0.21 Chip sample, vein in mafic schist highly
sheared
MUDX000004 A93743 Talisman 601500 7148447 0.82 Chip sample, vein in mafic schist highly
sheared
MUDX000005 A93743 Talisman 601524 7148433 0.96 GRAB west side of working
MUDX000006 A93743 Talisman 601508 7148579 0.8 GRAB from waste around working
MUDX000007 A93743 Talisman 601509 7148580 1.08 GRAB from waste around working
MUDX000008 A93743 Talisman 601507 7148595 1.02 GRAB from waste around working
MUDX000009 A106467 Talisman 603074 7142443 0.029
MUDX000010 A106467 Talisman 603080 7142457 0.009
MUDX000011 A106467 Talisman 603095 7142593 0.004
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Sample ID Source Company Prospect MGA MGA Au Comment
Report East North (g/t)
MUDX000012 A106467 Talisman 603122 7142594 0.003
MUDX000013 A106467 Talisman 603112 7142634 0.645
MUDX000014 A106467 Talisman 603134 7142672 0.068
MUDX000015 A106467 Talisman 603113 7142829 0.007
MUDX000016 A106467 Talisman 603125 7142783 0.003
MUDX000017 A106467 Talisman 603216 7142874 0.004
MUDX000018 A106467 Talisman 603106 7142973 0.033
MUDX000019 A106467 Talisman 603116 7142909 0.001
MUDX000020 A106467 Talisman 603128 7143090 0.016
MUDX000021 A106467 Talisman 603156 7143224 0.005
MUDX000022 A106467 Talisman 603150 7143117 0.001
MUDX000023 A106467 Talisman 603183 7143409 0.05
MUDX000024 A106467 Talisman 602889 7143002 0.001
MUDX000025 A106467 Talisman 602900 7142969 0.004
MUDX000026 A106467 Talisman 602888 7142899 0.004
MUDX000027 A106467 Talisman 602894 7142812 0.001
MUDX000028 A106467 Talisman 602888 7142951 0.001
MUDX000029 A106467 Talisman 602930 7142813 0.002
MUDX000031 A106467 Talisman 602725 7141575 0.002
MUDX000032 A106467 Talisman 602766 7141540 0.014
MUDX000033 A106467 Talisman 602773 7141480 0.001
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Notes:

• Data sourced from WAMEX reports as detailed in the table

• These results should be read in conjunction with the information in Appendix 3 as prescribed by the JORC Code

• Specifically a number of the sample locations are only recorded on historical plans and plotted relative to historical workings or other landmarks

• The exact location of these samples will require field checking however results are included here to illustrate the potential of the prospects under discussion.

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Appendix 3: JORC Code – 2012 Edition

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Criteria JORC Code Explanation Commentary
Sampling Nature and quality of sampling (eg cut Various phases of exploration over the past 120
Techniques channels, random chips, or specific years has been undertaken over the ground the
specialised industry standard subject of EL 51/2157.
measurement tools appropriate to the
minerals under investigation, such as Geochemical sampling has consisted of regional
down hole gamma sondes, or handheld soil, stream, rock chip sampling, in addition to
XRF instruments, etc). These examples selective grab and channel sampling sourcing
should not be taken as limiting the material from shallow open pits, mine shafts, mine
broad meaning of sampling. tailings and prospector workings within the projects
area.
Include reference to measures taken to
ensure sample representivity and the Soil sampling results reported in this announcement
appropriate calibration of any were from programmes completed between 2007
measurement tools or systems used. and 2011 by Talisman Mining. Rock chip samples
were taken from outcrops to test features of
Aspects of the determination of geological interest
mineralisation that are Material to the
Public Report. Channel samples were taken across veins exposed
within old workings
In cases where ‘industry standard’ work
has been done this would be relatively Drill samples have been sourced from RAB, RC &
simple (eg ‘reverse circulation drilling Diamond drilling. RAB drilling was sampled by
was used to obtain 1 m samples from composite sampling, the MRAB series (NCR, 1989)
which 3 kg was pulverised to produce a was sampled on intervals between 2 and 8 metres
30 g charge for fire assay’). In other and the RAB series (Metex, 1993) was sampled as
cases, more explanation may be either 2m or 6m composites.
required, such as where there is coarse
gold that has inherent sampling Prior to Red Mountain RC drilling was sampled on a
problems. Unusual commodities or 1m basis, with composite samples collected and
mineralisation types (eg submarine submitted as an initial test for mineralisation.
nodules) may warrant disclosure of
detailed information. Red Mountain applied two sampling techniques -, 1m
metre splits directly from the rig sampling system
each metre and 4m composite sampling from spoil
piles through unmineralized zones. Samples
submitted to the laboratory were determined by the
site geologist.
1m Splits
Every metre drilled a 2-3kg sample (split) was sub-
sampled into a calico bag via a Metzke
cone splitter from each metre of drilling.
4m Composites
All remaining spoil from the sampling system was
collected in buckets from the sampling
system and neatly deposited in rows adjacent to the
rig. An aluminium scoop was used to
then sub-sample each spoil pile to create a 2-3kg
4m composite sample in a calico.
Both types of samples were then submitted to the
laboratory and pulverised to produce a 30g charge
for Fire Assay.
Selected intervals of core were submitted to the
laboratory where it was cut in half, sampled,
crushed and pulverised to produce a 30g charge for
Fire Assay
Drilling Drill type (eg core, reverse circulation, In total 99 holes were drilled between 1978 and
Techniques open-hole hammer, rotary air blast, 2021 for 6994.2m within E51/2157.
auger, Bangka, sonic, etc) and details
(eg core diameter, triple or standard 33 RAB holes were completed for 1,314m.
tube, depth of diamond tails, face-
sampling bit or other type, whether core 62 RC holes were completed for 4,881m. Standard
is oriented and if so, by what method, RC drilling techniques including the use of face
etc). sampling hammers were used.
2 Diamond Holes were completed for 719.2m.
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Criteria	JORC Code Explanation	Commentary
		HQ sized core was drilled from surface until competent rock was intersected (31m). NQ sized core was then drilled to the end of hole (320.1m). Core was orientated using a reflex digital orientation tool.
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.	Qualitative assessment of sample recovery and moisture content of non-core drill samples was recorded. Sample recoveries variably recorded. No relationship is known to exist between sample recovery and grade. Core recovery was recorded each metre by an on- site geologist. It is unknown if any bias occurred between sample recovery and grade.
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 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.	Chip samples have been variably geologically logged. They are not thought to be at a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. Drill holes were variably geologically logged by on- site geologists, with lithological, mineralogical, weathering, alteration, mineralisation and veining information recorded. The holes have not been geotechnically logged. Geological logging is qualitative. 100% of all reported intersections have been geologically 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.	Selected zones of core were submitted to the laboratory. Core Samples were no more than ~1m in length. Core was cut, sampled, crushed and pulverised by the laboratory. Duplicates were taken (coarse crush duplicates) during prep at a rate of approximately every 25th sample. QAQC in the form of certified material will be inserted into the sample string approximately every 25th sample. Core was submitted to ALS laboratories (Perth WA) for a 30g Fire Assay with AAS finish (Au-AA25). A 2-3kg samples was oven dried to 105 degC and is then pulverised to 85% passing 75um. Standard laboratory QAQC was undertaken and monitored. Limited records of historical sub sampling techniques are present in the statutory reports used to compile the drill data RAB drilling was sampled as 2 or 6 metre composites (RAB series) or intervals between 2 and 8m (MRAB series), it is assumed that spear sampling was used to obtain these, consistent with industry standards. Duplicate samples were taken to ensure representivity of RC drilling was sampled on a 1m basis by riffle splitting the sample at the rig.

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Criteria JORC Code Explanation

Commentary

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Composite samples were taken as an initial assay
sample to determine mineralised intervals. For the
MTC series holes (2007) composites were taken
every 4 metres whereas for the MUD series (2011)
composites were taken every 2 metres.
Soil samples collected were sieved and the -2mm
fraction submitted for analysis.
Rock chip and channel samples were not sub
sampled in the field. Channel samples were taken
across quartz veins exposed in historical workings
at Maitland and Maitland South and attempted to
provide a representative sample of material mined
at these areas.
Quality of The nature, quality and appropriateness Samples from the MRAB series of RAB drillholes
Assay Data of the assaying and assay data were analysed for gold by MINLAB. Samples from
and Laboratory laboratory procedures used and the RAB series of RAB drillholes were analysed at
Tests whether the technique is considered Australian Assay Laboratories Balcatta for gold by
partial or total. fire assay and Ni, Cu Cr by AAS.
For geophysical tools, spectrometers, The laboratory and method of analysis for samples
handheld XRF instruments, etc, the from the MRC series of RC drillholes is not recorded
parameters used in determining the in WAmEx report A21313 Samples from the MTC
analysis including instrument make and and MUDC series of RC drillholes were analysed by
model, reading times, calibrations ALS for gold by fire assay. In addition certain
factors applied and their derivation, etc. samples from the MUDC series were analysed for a
multielement suite by ME-ICP61.
Nature of quality control procedures
adopted (eg standards, blanks, Soil sampling reported was analysed for gold at
duplicates, external laboratory checks) Genalysis laboratory in Kalgoorlie with later samples
and whether acceptable levels of analysed for a suite of multielements at ACME
accuracy (ie lack of bias) and precision laboratories in Vancouver Canada.
have been established.
Rock chip sampling was not completed at a regular
spacing, samples reported in this announcement
were analysed at ALS laboratories for Au and
multielements.
Channel samples were analysed by fire assay at
Rapley Wilkinson Laboratories.
For Core samples, the Assay technique is Fire
Assay which is a ‘Total Technique’.
Standard laboratory QAQC was undertaken and
monitored by the laboratory and geologists upon
assay result receival.
Verification of The verification of significant Results have been compiled from statutory reporting
Sampling and intersections by either independent or to the WA Department of Mining, Industry
Assaying alternative company personnel. Regulation and Safety. Validation checks have been
carried out but verification against primary data
The use of twinned holes. sources is not possible.
Documentation of primary data, data
entry procedures, data verification, data
storage (physical and electronic)
protocols. Discuss any adjustment to
assay data.
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Criteria JORC Code Explanation Commentary
Location of Accuracy and quality of surveys used to Data points in most cases picked up by handheld
Data Points locate drill holes (collar and down-hole GPS using the cartesian coordinate system, UTM
surveys), trenches, mine workings and projection, AMG84 or MGA94 zone 50 map grid,
other locations used in Mineral AGD84 or GDA94; WGS84 datum for geographic
Resource estimation. coordinate systems
Specification of the grid system used. All data has been converted into GDA 94 Zone 50
for use in future exploration. Due to the historical
Quality and adequacy of topographic nature of the data there may be some inaccuracies
control. due to this transformation or recording of
coordinates. The Company aims to confirm all
material data points during initial field visits prior to
further exploration.
Certain rock chip sample locations are only
recorded on historical plans as detailed in notes to
Appendix 2. The prospects where these samples
were taken from is known consequently their
location is known within a 400m x 200m area.
The application, quality and adequacy of
topographic control is unknown.
Data Spacing Data spacing for reporting of All drilling is historic. See drill table for hole positions.
and Exploration Results. Data spacing at this stage is not suitable for Mineral
Distribution Resource Estimation.
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.
Orientation of Whether the orientation of sampling All drilling is historic and detailed information on the
Data in achieves unbiased sampling of possible orientation cannot be confirmed.
Relation to structures and the extent to which this
Geological is known, considering the deposit type.
Structure
If the relationship between the drilling
orientation and the orientation of key
mineralised structures is considered to
have introduced a sampling bias, this
should be assessed and reported if
material.
Sample The measures taken to ensure sample There is no documentation of any measures taken
Security security. to ensure sample security.
Audits or The results of any audits or reviews of No audits or reviews have been completed
Reviews sampling techniques and data.
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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, historical 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.	The information in this release relates to tenement E51/2157. There are no existing Native Title Agreements over the current tenement. The tenement is wholly within partially determined claim WC2004/10 Wjarri Yamatji #1 with the Aboriginal Representative area body being Yamatji Marlpa Aboriginal Corporation. The tenure is in good standing with the DMIRS.
Exploration Done by Other Parties	Acknowledgment and appraisal of exploration by other parties.	The Crackerbox (Mt Maitland Project) area has an extensive exploration history dating back to the late 1800's when Maitland North and Maitland South were mined intermittently from 1897. Modern gold exploration over the project area has been conducted by several companies with Red Mountain Mining being the most recent. The general area that forms the subject of this report has been explored in the past by various companies including Pancontinental Mining, North Coolgardie Resources, Metex Resources, Talisman Mining Ltd during the period 1987 to 2011 and Red Mountain Mining 2020 - 2021.

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Criteria JORC Code Explanation Commentary
Geology Deposit type, geological setting and The project covers the Mount Maitland Greenstone
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Criteria JORC Code Explanation Commentary	Criteria JORC Code Explanation Commentary	Criteria JORC Code Explanation Commentary
Geology	Deposit type, geological setting and	The project covers the Mount Maitland Greenstone
	style of mineralisation.	Belt at the northern margin of the Yilgarn Craton. The Mt Maitland Project is situated at a major geological plate tectonic boundary reflecting the collision between the separate Pilbara and Yilgarn Cratons. It is bounded by major regional structural faults - to the north by the Murchison Fault, to the west by the Yalgar Fault and to the south by the Mt Maitland Fault. The Murchison Fault separates the Proterozoic southern Capricorn Orogen from the Archean northern Yilgarn Craton. The Yalgar Fault separates the older Narryer Terrane from the Murchison Domain. The Mt Maitland Greenstone Belt extends over roughly 23 x 4 km and is represented by the Maitland synformal structure which is the northernmost greenstone belt of the Yilgarn Craton. The Mt Maitland Greenstone Belt is an arcuate 3km thick succession of interlayered mafic-ultramafic igneous intrusives and volcanics, and felsic volcanic rocks with several intercalated sedimentary rocks and BIFs. The sequence has been folded and regionally metamorphosed to upper- greenschist/mid-amphibolite grade. Extensive Proterozoic dolerite dykes cross-cut the project area related to massive gabbroic intrusive bodies. A regional splay structure off the mantle tapping Murchison Fault traverses the entire length of the tenement. Pervasive quartz veins occur along this splay structure. Orogenic gold mineralisation in the area is associated with quartz veining +/-sulphides and enveloping hydrothermal mineralisation haloes within sheared mafic-ultramafic igneous intrusives and volcanics, and sedimentary rocks (including BIF) and felsic volcanic rocks. E51/2157 covers almost the entirety of the Mt Maitland Greenstone Belt. The central half of the tenement comprises outcrop and sub-cropping basement with alluvial and colluvial cover in the northern and southern parts.

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Criteria JORC Code Explanation Commentary
Drill Hole A summary of all information material to All material information regarding historical
Information the understanding of the exploration exploration is provided in figures and tables
results including a tabulation of the included in the body of the announcement as well
following information for all Material drill as Appendices 1 and 2.
holes:
-easting and northing of the drill hole No significant information has been excluded for
collar drilling results reported in this document.
- elevation or RL (Reduced Level -
elevation above sea level in metres) of
the drill hole collar
-dip and azimuth of the hole
- down hole length and interception
depth - 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.
Data In reporting Exploration Results, Aggregation has been done on a length weighted
Aggregation weighting averaging techniques, basis.
Methods 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 used
for such aggregation should 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.
Relationships These relationships are particularly Drilling was carried out perpendicular to the
Between important in the reporting of Exploration observed trend of mineralisation or the regional
Mineralisation Results. stratigraphy.
Widths and
Intercept If the geometry of the mineralisation Channel sampling was carried out perpendicular to
Length with respect to the drill hole angle is the trend of mineralised veins.
known, its nature should be reported.
In both cases, while efforts have been made to
If it is not known and only the down achieve unbiased sampling of mineralisation the
hole lengths are reported, there should controls on mineralisation are not well known
be a clear statement to this effect (eg enough to comment as to whether a sampling bias
‘down hole length, true width not has been introduced or not. Further exploration will
known’). be required to determine the primary geological
structures controlling mineralisation.
Diagrams Appropriate maps and sections (with Diagrams have been included in the text of the
scales) and tabulations of intercepts announcement.
should be included for any significant
discovery being reported These should
include but not be limited to a plan view
of drill hole collar locations and
appropriate sectional views.
Balanced Where comprehensive reporting of all All drillholes are listed in Appendix 1
Reporting Exploration Results is not practicable,
representative reporting of both low and All rock chip and channel samples compiled to date
high grades and/or widths should be are listed in Appendix 2
practiced avoiding misleading reporting
of Exploration Results.
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Criteria	JORC Code Explanation	Commentary
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	A substantial amount of historical data has been collected over the Mt Maitland Project. A large amount of this data is not in digital, with some assay/sampling data recorded only on plans, and therefore will be compiled by the Company as part of its due diligence into the project. Most of this data is geological mapping and surface geochemical sampling. The full historic surface sampling dataset is still being validated and will be reviewed and reported once this is completed.
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 geological interpretations and future drilling areas, provided this information is not commercially sensitive.	Further work may involve: Sourcing and compiling all historic data Field mapping and rock chip sampling. Extensional geochemical soil sampling Geophysical surveys Tests for lateral extensions or depth extensions or large-scale step-out drilling at known prospects, or reconnaissance drilling of identified yet untested drill targets The areas of possible extensions, including the main geological interpretations and future drilling areas are commercially sensitive.

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