ROKEBY RESOURCES LIMITED — Capital/Financing Update 2016

Jun 1, 2016

2 June 2016

Strong Zinc, Bonanza Silver and Now Gold at Riqueza

HIGHLIGHTS

• Very strong zinc (Zn) and lead (Pb), bonanza1 silver (Ag) and now strong gold (Au) in assays from recent Riqueza sampling programme
• Sampling of small-scale mine workings and gossan at Uchpanga Prospect:
  • o Peak values: 20.96% Zn, 920g/t Ag, 16.71% Pb, 2.65g/t Au
  • o Gossan and workings traceable over 750+m
• Sampling southern extension of high grade Zn-Ag-Pb outcropping manto at Humaspunco Prospect:
  • o Peak values: 18.06% Zn, 418g/t Ag, 44.41% Pb
  • o Average values: 7.54% Zn, 98.29g/t Ag, 9.76% Pb
• Targets at Uchpanga and Humaspunco open-ended in multiple directions

20.96% Zn, 920g/t Ag, 16.71% Pb & 2.65g/t Au

Inca Minerals Limited (Inca or the Company) (ASX code: ICG) has received highly encouraging assay results from a recently completed mapping and sampling programme at the Company's exciting new Zn-Ag-Pb Riqueza Project. The purpose of the programme was to investigate the southern extension of a known high-grade manto deposit at the Humaspunco Prospect (Humaspunco) and also to investigate an extensive gossan and a series of small-scale mine workings at the Uchpanga Prospect (Uchpanga). Mapping and assay results confirm the very high prospectivity of both areas.

Table 1 shows the results of the sample programme with peak assay values from sampling including:

• Zn: 20.96% (Uchpanga); 18.06% (Humaspunco)
• Ag: 920g/t (29.58 oz/t) (Uchpanga); 418g/t (13.44 oz/t) (Humaspunco)
• Pb: 16.71% (Uchpanga); 44.41% (Humaspunco)
• Au: 2.65g/t (Uchpanga)

The discovery of bonanza grade Ag and strong Au at the Uchpanga Prospect is a particularly pleasing result. Although Riqueza is first-and-foremost a Zn-Ag-Pb focussed project with very strong results once again generated in the current sampling programme, the high grade of Au adds an exciting dimension to this rapidly expanding project.

1 Bonanza grade is a term used to describe very high grades, typically for gold >1 oz/t and for silver >5 oz/t.

Sample	Coordinnates		Prospect &	Zn		Ag	Pb		Au	Cu
Number		Easting Northing	Datum	Mineralisation Type	ppm	%	g/t	ppm	%	g/t	ppm
				RR005401 454495 8592977 WGS846-18L Uchpanga - gossan	727		0.7	570		0.005	74
				RR005402 454492 8592978 WGS846-18L Uchpanga - gossan	>10000	1.25	20.1	4122		0.41 0.094	242
				RR005403 454525 8592969 WGS846-18L Uchpanga - fresh vein >10000		20.96		920 >10000		16.71 2.651 4445
RR005404	454518			8592974 WGS846-18L Uchpanga - gossan	4089	0.41	3.3	1590		0.16 0.019	74
RR005405	454515			8592943 WGS846-18L Uchpanga - gossan	3491	0.30	17.8	3113		0.31 0.059	423
				RR005406 454586 8592946 WGS846-18L Uchpanga - gossan	8090	0.81	26.5	4044		0.40 0.403	274
				RR005407 454578 8592932 WGS846-18L Uchpanga - gossan	841		166.5	1322	0.13	0.66	534
				RR005408 454609 8592932 WGS846-18L Uchpanga - gossan	282		0.6	21		0.005	3
				RR005409 454838 8592866 WGS846-18L Uchpanga - gossan	923		1.2	182		0.014	237
				RR005410 454875 8592862 WGS846-18L Uchpanga - gossan	260		0.4	108		0.02	340
				RR005411 454938 8592844 WGS846-18L Uchpanga - gossan	5083	0.51	0.7	61		0.015	489
RR005412	455114			8592802 WGS846-18L Uchpanga - gossan	6452	0.65	7	3725		0.37 0.198	110
RR005413 455189				8592771 WGS846-18L Uchpanga - gossan	1559	0.16	14.6	5131		0.51 0.556	194
				RR005414 454500 8593308 WGS846-18L Uchpanga - gossan	3069			0.31 132.8 >10000		2.99 0.876	277
				RR005415 455846 8594528 WGS846-18L Humaspunco - manto >10000		5.16	16.7	9035	0.90	0.11	155
				RR005416 455846 8594528 WGS846-18L Humaspunco - manto >10000		1.27		21.8 >10000		1.98 0.038	57
				RR005417 455849 8594497 WGS846-18L Humaspunco - manto >10000		8.30		96.1 >10000		10.76 0.017	750
RR005418	455851			8594490 WGS846-18L Humaspunco - manto >10000		1.21		99.1 >10000		7.91 0.005	476
				RR005419 455944 8594480 WGS846-18L Humaspunco - manto >10000		17.22		96.4 >10000		2.19 0.019	782
				RR005420 455957 8594488 WGS846-18L Humaspunco - manto >10000		18.07		418 >10000		44.41 0.064 1437
				RR005421 455957 8594488 WGS846-18L Humaspunco - manto >10000		5.52		84.7 >10000		5.31 0.054	752
				RR005422 456009 8594499 WGS846-18L Humaspunco - manto >10000				12.62 108.6 >10000		11.66 0.015	403
RR005423 456041				8594462 WGS846-18L Humaspunco - manto >10000		3.03		20.9 >10000		2.16 0.005	114
RR005424 456104				8594456 WGS846-18L Humaspunco - manto >10000		2.85		31.1 >10000		2.87 0.005	63
RR005425 456176				8594514 WGS846-18L Humaspunco - manto >10000		14.89		77.9 >10000		5.90 0.021	610
				RR005426 456196 8594526 WGS846-18L Humaspunco - manto >10000		6.21		58.2 >10000		5.47 0.007	416
				RR005427 456198 8594520 WGS846-18L Humaspunco - manto >10000				8.82 117.7 >10000		12.34 0.012	802
				RR005428 456239 8594528 WGS846-18L Humaspunco - manto	4693			0.47 128.9 >10000		13.95 0.005	47

Table 1: ABOVE Sample results.

Results from the Uchpanga Prospect

The mapping and sampling programme investigated various mineralised occurrences at the Uchpanga Prospect, including mineralised veins/dykes exposed in old workings and sections of a gossan known to occur in the area. Relatively fresh sulphide-bearing material from the Rita Maria working (Figure 1) has returned very strong mineralisation, 20.96% Zn, 920g/t Ag, 16.71% Pb and 2.65g/t Au (Table 1). With +25% combined Zn-Pb, bonanza grade Ag (29.44 oz/t) and very strong gold (>2g/t). This result is arguably the best to date at Riqueza. The majority of samples taken at Uchpanga were from a highly weathered, Fe-oxide rich layer referred to as gossan (Figure 1), where sphalerite (Zn-sulphide) and galena (Pb-sulphide) minerals are mostly replaced by Fe-oxides. The relatively high levels of Zn, Ag, Pb, despite the highly weathered nature of the sampled material, indicates that the gossan represents a very significant horizon of rich sulphide mineralisation that, through mapping, is known over a total strike length of 750+m.

Figure 1: FAR LEFT Rock chip sample photo of RR005405 containing 20.96% Zn, 920g/t Ag, 16.71% Pb and 2.65g/t Au. The sample is fresh vein material found at the Rita Maria smallscale mine. It comprises coarse grained galena (not pictured), fine grained sphalerite and pyrite. LEFT Rock chip sample photo of RR005406 where the sulphides are weathered away and/or replaced by Feoxides. Its low sulphur content (±0.5%) is proof of the degree of weathering, yet it contains significant levels of Au, Ag, Zn & Pb.

Suite 1/16 Nicholson Road, Subiaco, Western Australia 6008 • PO BOX 38, West Perth, 6872 Telephone: +61 (08) 6145 0300 • ABN: 36 128 512 907 Website: www.incaminerals.com.au

Results from the Humaspunco Prospect

The mapping and sampling programme investigated a prospective area along the southern flank of Humaspunco Hill where manto style mineralisation is known in outcrop over at least 500m. Past pre-Inca sampling, shows that Zn, Ag and Pb grades are consistently high and mapping shows that the manto dips into the ground to the south. The purpose of the recent programme was to confirm manto grades, to map the manto in greater detail and to inspect small-scale mine workings occurring in the area.

Mapping and sampling results now confirm the prevalence of manto-style mineralisation over a total strike length of at least 800m along the southern base of Humaspunco Hill. The strong average grades of 7.54% Zn, 98.29g/t Ag, 9.76% Pb from this sample programme are consistent with and, improve upon earlier average grades of the manto of 7.11% Zn, 165.56g/t Ag, 9.30% Pb (ASX announcement 5 April 2016).

Highlight results include:

• RR5420: 18.07% Zn, 418g/t Ag, 44.41% Pb
• RR5419: 17.22% Zn, 96.4g/t Ag, 2.19% Pb
• RR5425: 14.89% Zn, 77.9g/t Ag, 5.90% Pb
• RR5422: 12.62% Zn, 108.6g/t Ag, 11.66% Pb

The manto sequence (comprising three known manto layers) is now known to outcrop over a total distance of 1,500m. It occurs near the top of a line of limestone exposures on the southern flank of Humaspunco Hill (discussed above) and along the western and eastern exposures of the perpendicular ridge traversing Humaspunco Hill. The eastern face of the ridge showing exposed manto is seen in Figure 2.

Figure 2: ABOVE Landscape photo looking west showing the eastern ridge that runs perpendicularly across the southern flank of Humaspunco Hill. The narrow white boxes trace the mantos down-slope. The dark colouration of the otherwise pale grey limestone indicates the presence of [weathered] sulphides and dolomite alteration. To the south (left) the mantos dip into the ground and are open-ended. There are at least half a dozen adits built into the mantos along their exposure, one highlighted in the photo.

Suite 1/16 Nicholson Road, Subiaco, Western Australia 6008 • PO BOX 38, West Perth, 6872 Telephone: +61 (08) 6145 0300 • ABN: 36 128 512 907 Website: www.incaminerals.com.au

In detail, the manto sequence comprises a number of massive to semi-massive sphalerite (Zn-sulphide) and galena (Pb-sulphide) rich horizons characteristically occurring with the mineral barite, Fe-oxides and Fecarbonates. Individual galena crystals are up to 2cm across (Figure 3), whilst sphalerite crystals are typically finer grained. Where the sulphide layers are highly weathered the sulphides are replaced by Fe-oxides making the layers gossanous in appearance (Figure 3). The manto sequence can also be commonly brecciated, comprising Fe-oxidised limestone clasts and a sulphide/barite matrix material.

Figure 3: ABOVE LEFT A large galena crystal adjacent to highly weathered fine grained sphalerite (with brown sandy appearance) (RR005422: 12.62% Zn, 108.6g/t Ag, 11.66% Pb). ABOVE RIGHT The sulphide rich layer is gossanous with sphalerite mostly replaced by Fe-oxides. In this photo gossanous material (lower left) is adjacent to manto breccia (brown clasts of limestone with galena rims) and starkly white barite as the matrix material (RR005428: 0.47% Zn, 128.9g/t Ag, 13.95% Pb).

Figure 4: Sample location plan showing simplified geology and the mineralised occurrences at the Humaspunco and Uchpanga prospects.

Suite 1/16 Nicholson Road, Subiaco, Western Australia 6008 • PO BOX 38, West Perth, 6872 Telephone: +61 (08) 6145 0300 • ABN: 36 128 512 907 Website: www.incaminerals.com.au

Significance of Results

Zn-Ag-Pb-Au Mineralisation at Uchpanga: Mapping and sampling shows that a gossan, approximately 750+m in length, occurs at Uchpanga. The gossan is believed to represent a very extensive layer (or horizon) of sulphide mineralisation that, at surface, comprises Fe-Mn oxides (Figure 1). Where fresh sulphide material was sampled (sample RR005403 – Figure 1) grades are significantly high. Indeed, the Zn and Pb grades are 20.96% and 16.71% respectively. The Ag grade is considered bonanza level at 920g/t (or 29.44 oz/t) and the gold grade also very strong at 2.65g/t. Sample RR005403 was collected from the Santa Rita small-scale mine that with another five workings spreads out along the length of the gossan (Figure 5).

Figure 5: ABOVE Panorama view of the Uchpanga Prospect. The gossan is marked by a pale double line. The Rita Maria working is located at the far right (a pale area). The trace of the gossan is concordant with bedding that is clearly seen along the crest of the hill. The gossan is believed to represent a high grade

The combination of Au with Zn-Ag-Pb (and also Mn-Cu), the prevalence of pervasive alteration and the development of stockwork veining associated with the gossan within a volcanic sequence at Uchpanga is significantly different from the style of mineralisation at Humaspunco. "In addition to Humaspunco, Uchpanga provides an extra level of expectation at Riqueza" says Inca's Managing Director, Mr. Brown. "Uchpanga hosts Zn-Ag-Pb mineralisation (in fresh material) at least as strong as Humaspunco and it also hosts gold mineralisation, hitherto not seen at Humaspunco. Indeed the gossan is one of our largest individual targets on the property."

Manto Zn-Ag-Pb Mineralisation at Humaspunco: Mapping and sampling shows that the Humaspunco mantos are strongly mineralised along the southern flank of Humaspunco Hill. Furthermore, the outcrop pattern of the mineralised manto sequence strongly indicates that it is preserved "down dip" into the ground to the south, and therefore open-ended in this direction.

"The southern extension of the manto sequence is confirmed by this field trip. Due to favourable geology we are also confident that the same mantos extend west across Humaspunco" says Mr Brown. "As the manto sequence in detail comprises multiple layers of massive to semi-massive sulphide mineralisation, there is a likelihood that further mineralised layers have developed at depth; a way to visualise this is to think of a layercake rather than a sponge-cake."

By way of conclusion, based on current interpretations of exploration data, it is believed the Humaspunco Prospect hosts intrusion-related replacement style Zn-Ag-Pb mineralisation. Individual deposits that collectively comprise the mineralised prospect include multiple veins, mantos, feeder-zones and breccias.

Suite 1/16 Nicholson Road, Subiaco, Western Australia 6008 • PO BOX 38, West Perth, 6872 Telephone: +61 (08) 6145 0300 • ABN: 36 128 512 907 Website: www.incaminerals.com.au

Future Exploration

"Strong zinc mineralisation in over a dozen vein, manto, dyke and breccia deposits, and now gold mineralisation in our largest mineralised feature, a 750m long gossan, greatly enhances Riqueza's prospectivity" says Inca's Managing Director, Mr. Brown. "There is now strong evidence to support several episodes of mineralisation having occurred at Riqueza."

The Company is quickly establishing a base camp at Riqueza to assist field operations. Future exploration will include additional mapping and sampling along the gossan at Uchpanga. The principal aim of this work is to determine the surface extent Zn-Ag-Pb-Au mineralisation. The western parts of Humaspunco will also be targeted for mapping and sampling. The principal aim of this work will be to identify and record extensions of the mineralised veins and mantos; to map and sample new structures/veins identified in satellite imagery and to examine the cause of the +1% Zn soil anomaly. Several mineralised breccias that are located at the Humaspunco Prospect will be also closely examined. Different geophysical survey methods are currently being assessed to maximise coverage and target generation. Geophysics can run at the same time as mapping and sampling.

Mr Brown is planning to be on site for the immediate upcoming mapping and sampling programme at Riqueza. "Among other things, I am very keen to follow up on possible vein extensions along the crest of Humaspunco that we've noticed in satellite imagery. And naturally, I am keen to see first-hand the gold-bearing gossan at Uchpanga."

*****

For further information contact Ross Brown (Managing Director). Office: +61 (0)8 6145 0300 Email address: info@incaminerals.com.au

Competent Person Statements

The information in this report that relates to mineralisation for the Riqueza Project, located in Peru, is based on information compiled by Mr Ross Brown BSc (Hons), MAusIMM, SEG, MAICD Managing Director, Inca Minerals Limited, who is a Member of the Australasian Institute of Mining and Metallurgy. He has sufficient experience, which is relevant to the style of mineralisation and types of deposits under consideration, and to the activity which has been undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Brown is a full time employee of Inca Minerals Limited and consents to the report being issued in the form and context in which it appears.

Some of the information in this report may relate to previously released information concerning mineralisation for the Riqueza Project, located in Peru, and subsequently prepared and first disclosed under the JORC Code 2004. It has not been updated to comply with the JORC Code 2012 on the basis that the information has not materially changed since it was last reported, and is based on the information compiled by Mr Ross Brown BSc (Hons), MAusIMM, SEG, MAICD Managing Director, Inca Minerals Limited, who is a Member of the Australasian Institute of Mining and Metallurgy. He has sufficient experience, which is relevant to the style of mineralisation and types of deposits under consideration, and to the activity which has been undertaken, to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Brown is a full time employee of Inca Minerals Limited and consents to the report being issued in the form and context in which it appears.

Suite 1/16 Nicholson Road, Subiaco, Western Australia 6008 • PO BOX 38, West Perth, 6872 Telephone: +61 (08) 6145 0300 • ABN: 36 128 512 907 Website: www.incaminerals.com.au

Appendix 1

The following information is provided to comply with the JORC Code (2012) requirements for the reporting of rock chip sampling by the Company on one concession known as Nueva Santa Rita (located in Peru).

Section 1 Sampling Techniques and Data

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Sampling techniques	Nature and quality of sampling (e.g. cut channels,random chips, or specific specialised industry standardmeasurement tools appropriate to the minerals underinvestigation, such as down hole gamma sondes, orhand-held XRF instruments, etc.). These examplesshould not be taken as limiting the broad meaning ofsampling.	This announcement refers to assay resultsfrom 28 rock chip samples collected by theCompany. Results for the elements Zn, Ag,Pb, Zn, Au and Cu are presented in Table 1.Reference is made to results of previousexploration in Section 2 of this Appendix.
	Include reference to measures taken to ensure samplerepresentivity and the appropriate calibration of anymeasurement tools or systems used.	The sample locations were determined byhand-held GPS. Sampling protocols andQAQC are as per industry best practice.
	Aspects of the determination of mineralisation that areMaterial to the Public Report. In cases where 'industrystandard' work has been done this would be relativelysimple (e.g. 'reverse circulation drilling was used toobtain 1m samples from which 3 kg was pulverised toproduce a 30g charge for fire assay'). In other casesmore explanation may be required, such as where thereis a coarse gold that has inherent sampling problems.Unusual commodities or mineralisation types (e.g.submarine nodules) may warrant disclosure of detailedinformation.	Rock chip sampling is a very widely usedsampling technique in early exploration,typicallycombinedwithgeologicalmapping to determine the presence ofmineralisation in a specific geologicalbody. By virtue of its purpose, rock chipsampling is selective. Each sample wasbagged separately and labelled. Sampleswere sent to a laboratory for multielement analysis.
Drilling techniques	Drill type (e.g. core, reverse circulation, open-holehammer, rotary air blast, auger, Bangka, sonic, etc.)and details (e.g. core diameter, triple or standard tube,depth of diamond tails, face-sampling bit or other type,whether core is oriented and if so, by what method,etc.).	N/A – no drilling or drill results werereferred to in this announcement.
Drill samplerecovery	Method of recording and assessing core and chipsample recoveries and results assessed.	N/A – no drilling or drill results werereferred to in this announcement.
	Measures taken to maximise sample recovery andensure representative nature of the samples.	N/A – no drilling or drill results werereferred to in this announcement.
	Whether a relationship exists between sample recoveryand grade and whether sample bias may have occurreddue to preferential loss/gain of fine/coarse material.	N/A – no drilling or drill results werereferred to in this announcement.
Logging	Whether core and chip samples have been geologicallyand geo-technically logged to a level of detail tosupport appropriate Mineral Resource estimation,mining studies and metallurgical studies.	N/A – no drilling or drill results werereferred to in this announcement.
	Whether logging is qualitative or quantitative innature. Core (or costean, channel, etc.) photography.	N/A – no drilling or drill results werereferred to in this announcement.
	The total length and percentage of the relevantintersections logged.	N/A – no drilling or drill results werereferred to in this announcement.
	If core, whether cut or sawn and whether quarter, halfor all core taken.	N/A – no drilling or drill results werereferred to in this announcement.

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Sub-samplingtechniques and	If non-core, whether riffled, tube sampled, rotary split,etc. and whether sampled wet or dry.	N/A – no drilling or drill results werereferred to in this announcement.
sample preparation	For all sample types, the nature, quality andappropriateness of the sample preparation technique.	The sample preparation technique wasappropriate. Each sample was baggedseparately and labelled. Samples weresent to a laboratory for multi-elementanalysis.
	Quality control procedures adopted for all subsampling stages to maximise "representivity" ofsamples.	N/A – sub-sampling procedures were notundertaken by the Company.
	Measures taken to ensure that the sampling isrepresentative of the in situ material collected,including for instance results for field duplicate/secondhalf sampling.	Rockchipsamplingisatechnique(described above) that directly samples insitu rock. In the case of sampling subjectof this announcement, the in situ rockcomprises mineralised veins and mantoscropping out within and proximal to aditsof previous mining operations.
	Whether sample sizes are appropriate to the grain sizeof the material being sampled.	The sample sizes are considered adequatein terms of the nature and distribution ofin situ rock and geological target at eachsample location.
Quality of assay dataand laboratory tests	The nature, quality and appropriateness of the assayingand laboratory procedures used and whether thetechnique is considered partial or total.	The analytical assay technique used in theelemental testing of the samples for nonAu was four-acid digestion and HCl leach,which is considered a "complete" digestformostmaterialtypes.Elementalanalysis was via inductive coupled plasmaand atomic emission spectrometry. Over10-30%detectionanalysisincludesadditional titration analysis. Au techniquesincluded Fire Assay with AA finish. Theanalytical assay technique used in theelemental testing is considered industrybest practice.
	For geophysical tools, spectrometers, hand-held XRFinstruments, etc., the parameters used in determiningthe analysis including instrument make and model,reading times, calibrations factors applied and theirderivation, etc.	N/A - No geophysical tool or electronicdevice was used in the generation ofsample results other than those used bythe laboratory in line with industry bestpractice.
	Nature of quality control procedures adopted (e.g.standards, blanks, duplicates, external laboratorychecks) and whether acceptable levels of accuracy (i.e.lack of bias) and precision have been established.	Blanks, duplicates and standards wereusedasstandardlaboratoryQAQCprocedures.
Verification ofsampling andassaying	The verification of significant intersections by eitherindependent or alternative company personnel.	ThesampleassayresultsareindependentlygeneratedbyBureauVeritas Minerals (BVM)who conductQAQC procedures that follow industrybest practice.
	The use of twinned holes.	N/A – no drilling or drill results werereferred to in this announcement.

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Verification ofsampling andassaying cont…	Documentationofprimarydata,dataentryprocedures, date verification, data storage (physicaland electronic) protocols.	Primary data (regarding assay results) issupplied to the Company from BVM in twoforms: EXCEL and PDF form (the latterserving as a certificate of authenticity).Both formats are captured on Companylaptops which are backed up from time totime.Followingcriticalassessment(including price sensitivity) when timeotherwise permits,the data is entered intoa database by Company GIS personnel.
	Discuss any adjustment to assay data.	No adjustments were made.
Location of datapoints	Accuracy and quality of surveys used to locate drillholes (collar and down-hole surveys), trenches, mineworkings and other locations used in Mineral Resourceestimation.	The rock chip sample locations aredetermined using a hand-held GPS.
	Specification of the grid system used.	WGS846-18L.
	Quality and adequacy of topographic control.	Topographic control is achieved via theuse of government topographic maps, inassociation with GPS and Digital TerrainMaps (DTM's), the latter generated duringantecedent detailed geophysical surveys.
Data spacing anddistribution	Data spacing for reporting of Exploration Results.	The distribution of the rock chip samplesfollows industry best practice and to alarge degree was subject to the location ofvisible direct (sulphides) and indirect(alteration) signs of mineralisation.
	Whether the data spacing and distribution is sufficientto establish the degree of geological and gradecontinuity appropriate for the Mineral Resource andOre Reserve estimation procedure(s) and classificationsapplied.	Please refer immediately above. Note thatno Mineral Resource orOre Reserveestimation have been provided in thisannouncement.Itisfurtheracknowledged that the sample populationof that released in this announcement isinsufficient to obtain an ExplorationTarget and that additional sampling, toachieve this, would be required.
	Whether sample compositing has been applied.	Sample compositing was applied, in so faras, at any one rock chip location, rock wascollected from an array of outcrop withina 0.5m to 2m radius.
Orientation of datain relation togeological structure	Whether the orientation of sampling achieves unbiasedsampling of possible structures and the extent to whichthis is known, considering the deposit type.	The distribution of rock chip samplesfollows industry best practice. Sampleorientations were perpendicular to trendsof visible mineralisation and/or alteration /veining/stockworking.
	If the relationship between the drilling orientation andthe orientation of key mineralised structures isconsidered to have introduced a sampling bias, thisshould be assessed and reported if material.	N/A – no drilling or drill results werereferred to in this announcement.
Sample security	The measures taken to ensure sample security.	Pre-assay sample security is managed bythe Company in line with industry bestpractice.

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Audits or reviews	The results of any audits or reviews of samplingtechniques and data.	Therockchipsamplingregimeisappropriateforoutcropconditionsprevalent at this project location.

Section 2 Reporting of Exploration Results

CRITERIA	JORC CODE EXPLANATION	COMMENTARY
Mineral tenementand land tenurestatus	Type, reference name/number, location and ownershipincluding agreements or material issues with thirdparties such as joint ventures, partnerships, overridingroyalties,nativetitleinterests,historicalsites,wildernessornationalparkandenvironmentalsettings.	TenementType:Peruvianminingconcession.Concession Name: Nueva Santa Rita.Ownership: The Company has a 5-yearconcession transfer option and assignmentagreement ("Agreement") whereby theCompany may earn 100% outright ownershipof the concession.
	The security of the land tenure held at the time ofreporting along with any known impediments toobtaining a licence to operate in the area.	The Agreement and concession are in goodstanding at the time of writing.
Exploration done byother parties	Acknowledgement and appraisal of exploration byother parties.	Thisannouncementalsodiscussesexploration carried out at Riquezabyprevious parties. Previous exploration wasthe subject of a Canadian standard Ni 43-101Report(withequivalentreportingStandards to JORC 2012).
Geology	Deposittype,geologicalsettingandstyleofmineralisation.	The geological setting of the area is that ofa gently SW dipping sequence of Cretaceouslimestones and Tertiary "red-beds", on awestern limb of a NW-SE trending anticline;subsequently effected by a series of nearvertical Zn-Ag-Pb bearing veins/breccia andZn-Ag-Pb [strata-bound] mantos.
Drill holeinformation	A summary of all information material to theunderstanding of the exploration results including atabulation of the following information for all Materialdrill holes:Easting and northing of the drill hole collarElevation or RL (Reduced Level – elevation abovesea level in metres) of the drill hole collar.Dip and azimuth of the hole.Down hole length and interception depth.Hole length.	N/A – no drilling or drill results were referredto in this announcement.
	If the exclusion of this information is justified on thebasis that the information is not material and thisexclusion does not detract from the understanding ofthe report, the Competent Person should clearlyexplain why this is the case.	N/A – no drilling or drill results were referredto in this announcement.
Data aggregationmethods	In reporting Exploration Results, weighted averagingtechniques,maximumand/orminimumgradetruncations (e.g. cutting of high grades) and cut-offgrades are usually Material and should be stated.	N/A–noweightedaveragesnormaximum/minimumtruncationswereapplied.

	Where aggregate intercepts incorporate short lengthsof high grade results and longer lengths of low graderesults, the procedure used for such aggregation shouldbe stated and some typical examples of suchaggregations shown in detail.	N/A–noweightingaveragesnormaximum/minimumtruncationswereapplied.
	The assumptions used for any reporting of metalequivalent values should be clearly stated.	N/A – no equivalents were used in thisannouncement.
Relationshipbetweenmineralisationwidths and interceptlengths	These relationships are particularly important in thereporting of Exploration Results.If the geometry of the mineralisation with respect tothe drill hole angle is known, its nature should bereported.If it is not known and only the down hole lengths arereported, there should be a clear statement to thiseffect (e.g. 'down hole length, true width not known').	No reference to mineralisation widths andinterceptlengths(innon-drillingcircumstances implied to mean "strikelength across the surface") were made inrelation to the Company's samples. TheCompany's samples are consistent withmineralisation reported by previous parties(refer above), which are reported to relateto veins and mantos for which dimensionsare provided.
Diagrams	Appropriate maps and sections (with scales) andtabulations of intercepts should be included for anysignificant discovery being reported. These shouldinclude, but not limited to a plan view of drill hole collarlocations and appropriate sectional views.	A plan showing the position of the 28sampleshasbeenprovidedinthisannouncement.
Balanced reporting	Where comprehensive reporting of all ExplorationResults is not practicable, representative reporting ofboth low and high grades and/or widths should bepracticed to avoid misleading reporting of ExplorationResults.	TheCompanybelievestheASXannouncement provides a balanced reportof its sampling programme and previouslyreported exploration referred to in thisannouncement.
Other substantiveexploration 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 andmethod of treatment; metallurgical test results; bulkdensity,groundwater,geotechnicalandrockcharacteristics; potential deleterious or contaminatingsubstances.	AswellasdiscussingtheCompany'smappingandassayresults,thisannouncementdiscussesexplorationcarried out at Riqueza by previous parties.Such previous exploration was the subjectof a Canadian standard Ni 43-101 Report(with equivalent reporting StandardstoJORC 2012). This work has been described bythe Company in ASX announcements withthe following dates: 4 April 2016, 22 April2016, 5 May 2016 and 11 May 2016
Further work	The nature and scale of planned further work (e.g. testsfor lateral extensions or depth extensions or large-scalestep-out drilling).	By nature of early phase exploration, furtherwork is necessary to better understand themineralisation that appears characteristic ofthis area.
	Diagrams clearly highlighting the areas of possibleextensions,includingthemaingeologicalinterpretations and future drilling areas, provided thisinformation is not commercially sensitive.	N/A: Refer above.

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