ROX RESOURCES LIMITED — Capital/Financing Update 2022

Apr 19, 2022

ASX ANNOUNCEMENT

20 April 2022

RRL1819D

ROX RESOURCES LIMITED

ASX: RXL

Rox Resources Limited (ASX: RXL) is an Australian listed company with advanced gold projects in Western Australia: the Youanmi Gold Project and the Mt Fisher Gold project.

DIRECTORS

Mr Stephen Dennis Chairman

Mr Alex Passmore Managing Director

Dr John Mair Non-Executive Director

Shares on Issue	168.9m
Share Price	$0.43
Market Cap.	$72.6m
Cash	$6.9m
(as at 31 March 2022)

Level 2, 87 Colin Street, West Perth WA 6005

+61 8 9226 0044

admin@roxresources.com.au www.roxresources.com.au

Follow Rox:

Youanmi Near Surface Resource Increased to 1.0Moz – Total Youanmi Gold Project Resource Lifts to 3.2Moz

Highlights:

• Youanmi Near Surface Resource increased by 204Koz Au to 1,004Koz Au
• This resource upgrade incorporates 16,000m of additional RC drilling above 160m vertical depth and delivers a 26% increase in the Near Surface Resource contained gold.
• Youanmi Mineral Resource inventory has increased by 93% from 1.7 million ounces (June 2021) to 3.2 million ounces following an intensive exploration campaign throughout 2021 and early 2022.
• All in exploration costs on a rolling average basis for the project (Underground and Near Surface Resources) since project acquisition indicate an average $7 per ounce discovery cost (approximately $10 per ounce discovery cost for the Near Surface Resource in this update).

West Australian gold exploration and development company, Rox Resources Limited ("Rox" or "the Company") (ASX: RXL), in conjunction with its joint venture partner Venus Metals Corporation Limited (ASX: VMC) is pleased to report a significant increase to the Mineral Resource Estimate ("MRE") for the Youanmi Gold Project near Mt Magnet, WA.

Drilling and exploration work at the Youanmi Gold Project predominantly in the OYG JV area (Rox 70% and Manager, VMC 30%) has yielded substantial increases in known and defined tonnages and ounces since acquisition and commencement of drilling in Mid-2019.

Rox has used an independent consultant, Widenbar Associates, to complete the Near Surface Resource estimate (refer Table 1). The previous near surface resource for Youanmi was published in June 2021 (ASX RXL 23 June 2021).

Managing Director Alex Passmore commented:

"We are very pleased to announce this increase to the Near Surface Resource Estimate at Youanmi following the inclusion of newly delineated mineralised zones along the mine corridor including the Link, Footwall Lodes and Hanging-wall Lodes.

The lift in the Near Surface Resource incorporates data from 16,000m of RC drilling undertaken in the second half 2021 and early 2022. The substantial increase in both Near Surface and Underground resources at Youanmi is testament to the strong geological understanding our exploration team has developed, allowing for precise and effective targeting of gold lodes that continues to deliver strong results. The scale of Youanmi is starting to become more apparent and in line with our high level of confidence in the Project.

This resource will underpin the open pit component of the company's Scoping Study which is on track for completion in the middle of the year."

Summary of Youanmi Mineral Resource 2022 (incl. comparison to 2022):

			January 2022 Resource*		Change in		April 2022 Resource
Area	Classification Cut-off		Tonnes(dmt)	Au Grade(g/t)	Au Metal(oz)	Au Metal(%)	Tonnes(dmt)	Au Grade(g/t)	Au Metal(oz)
Near Surface	Indicated	$0.5$ g/t**	7,470,000	1.81	434,000	up 27%	9,070,000	1.89	552,000
Underground	Indicated	3.0 $g/t$ *	3.060.000	7.55	744.000	na	3,060,000	7.55	744,000
SubTotal	Indicated		10,530,000	3.48	1.178.000	up 10%	12,130,000	3.32	1,296,000
Near Surface	Inferred	$0.5$ g/t**	7,240,000	1.57	366,000	up 24%	8.930.000	1.58	453,000
Underground	Inferred	3.0 $g/t$ *	6.840.000	6.59	1,450,000	na	6,840,000	6.59	1,450,000
SubTotal	Inferred		14,080,000	4.01	1,816,000	up 5%	15,770,000	3.75	1,903,000
Near Surface	$Ind + Inf$	$0.5$ g/t**	14.710.000	1.69	800,000	up 26%	18,000,000	1.74	1,004,000
Underground	$Ind + Inf$	3.0 $g/t$ *	9.900.000	6.89	2,194,000	na	9,900,000	6.89	2,194,000
Near Surface + Underground Ind + Inf			24,610,000	3.78	2,994,000	up 7%	27,900,000	3.57	3,199,000

Comparison to Previous Near Surface Resource Estimate:

The Near Surface Resource Update has resulted in a 26% increase in contained metal representing 204,000 additional ounces of contained gold. This has resulted in an increase in the overall Youanmi gold inventory to 3.2 mil oz Au which is 7% up from 3.0 mil oz Au reported in January 2022.

ASX CODE: RXL

Following 38,000 metres of infill and extensional RC and diamond drilling completed throughout 2021 the combined Near Surface Resource and Underground Resource (formally known as "Youanmi Deeps Resource") (ASX: RXL 20 January 2022) resulted in a total metal increase of 93% from 1.7 million ounces to 3.2 million ounces for the Total Youanmi Gold Project Resource reported in June 2021 (ASX: RXL 23 June 2021).

ASX CODE: RXL

Figure 2: Growth in Youanmi Total Gold Resources

Figure 3: 3D View of Youanmi Underground Resource Model and Near Mine Part of Near Surface Model

Youanmi Near Surface Resource Modelling Parameters Discussion:

Geology and Geological interpretation

The Youanmi Gold Project is located in the central part of the Youanmi greenstone belt, which is situated in the Southern Cross Province of the Yilgarn Block of Western Australia. The greenstones and surrounding granitoid rocks are Archaean in age. The geology of the Mine Area consists of a north to northwest trending sequence of greenstones. The greenstone succession at Youanmi comprises strongly magnetic tholeiitic basalt, sheared basalt, banded iron formation and mafic schist. The greenstone succession is intruded by an adamellite batholith, called the "Youanmi Granite".

Gold mineralisation represents a typical structurally controlled Archaean shear hosted lode deposit. Mineralisation is hosted in both the Mine Shear Zone, a 1-25m wide shear zone that has been traced along strike for over 2,300m and 900m down-dip, and a series of footwall and hanging wall shear zones. The Mine Shear is subparallel to the greenstone-granite contact and has variable dips of between 30°-70°W striking 330°.

Mineralisation is concentrated along a major flexure in the Mine Shear as it splays of the regionally-extensive Youanmi shear zone. Gold is intimately associated with sulphide minerals and silicates in zones of strong hydrothermal alteration and structural deformation.

Granite hosted gold mineralisation occurs at several sites, most notably Grace and the Plant Zone Prospects, controlled by conjugate structures striking 000°-010° and dipping 60-70°W. Plant Zone mineralisation is associated with stockwork quartz veining, within a deeply weathered granite host. Mineralised envelopes extend over a strike length of at least 1,400m, lying subparallel to the Mine Shear Zone but several hundred metres inside the granite contact. At Grace, the mineralised structure consists of a moderately W-dipping shear zone and silica-stibnite-Au breccia-style veins within sericitized granite.

Drilling techniques

Where recorded by previous explorers, RC drilling was carried out using a face-sampling hammer. Various drilling contractors were used over the years.

RC drilling by Rox was carried out with a 140mm face sampling hammer.

Most historical diamond drilling was undertaken using an NQ diameter bit.

Diamond drilling completed by Rox was undertaken using a combination of HQ and NQ2 diameter bits. Precollars for diamond holes were drilled using 140mm face sampling RC hammer.

RC and diamond down-hole surveys were completed using north-seeking gyroscopes.

Sampling and sub-sampling techniques

Historical RC samples were collected every metre via a cyclone into a plastic bag prior to splitting with a Jones riffle splitter. A 1.5-3kg sample split was collected into a calico bag for laboratory submission. In some cases, composite samples of up to 5m were collected via spear sampling. Anomalous composite samples were usually re-assayed at 1m intervals where composite assays were greater than 50ppb, 80ppb or 250ppb depending on the program.

Historical diamond drill core was cut using a diamond saw into half-core or, in the case of HQ diameter core into ¼ core and sampled on either a 1m basis or over geological intervals to a maximum of 1m. Core was stored at the Youanmi mine site. Historically, information relating to sample recovery and quality, while often noted on logs, was not always well documented.

RC sampling by Rox was undertaken by collecting 1m using a cone splitter. RC samples, 1m samples were taken through target zones. The remainder of the hole was sampled using 4m composite samples. For 4m composite samples >0.2g/t Au, 1m samples were collected and sent to the laboratory for analysis.

Rox diamond core is dominantly NQ2 size, sampled on geological intervals, with a minimum of 0.2 m up to a maximum of 1.2 m. HQ and NQ2 holes were cut in half, with one half sent to the laboratory and one half retained.

Sample Preparation and Assaying

Assaying methodology and laboratories have varied over the years with several historical operators. Standard industry practice sampling, preparation and assaying best practises were used at the time. The typical analytical technique was fire assay fusion and detection by atomic absorption spectrometry.

Rox RC and diamond core samples were sent to Intertek Genalysis in Perth, crushed to 10mm, dried and pulverised (total prep) in LM5 units (Some samples > 3kg were split) to produce a sub-sample. Pulps were analysed by 50g Fire Assay with ICP-OES (Intertek code FA50/OE).

Estimation Methodology

A total of 21 mineralised wireframes were modelled comprising the Mine Lode and associated footwall and hanging-wall lodes. The wireframes were created in Seequent Leapfrog Geo mining software ("Leapfrog") using a combination of logged geology and gold grade to identify the mineralised intervals in drill holes. Merged tables of assay and lithology were created in Leapfrog and the interval selection function was used to code the intersections as belonging to one of the mineralised lodes. No minimum or maximum thickness values were applied for interpretation of the lodes.

The mineralisation wireframes used for the previous January 2022 Youanmi Underground Mineral Resource were updated with the additional assays received since the date of the previous database. The wireframes have all been terminated by the base of oxidation surface. Above this surface (ie in the oxide zone) and outside the area of the wireframes, indicator modelling has been used to define mineralisation.

The Near Surface Resource Estimate comprised of the areas summarised below.

	Youanmi Remaining Resource April 2022
Cutoff	Area/Lode	Classification	Volume	Tonnes	Density	AuCut	Ounces
0.5	Bunker	Indicated	220,000	570,000	2.64	2.16	40,000
0.5	Commonwealth	Indicated	180,000	450,000	2.56	1.88	27,000
1.5	Grace	Indicated	50,000	130,000	2.56	6.94	30,000
0.5	Link Lodes	Indicated	80,000	220,000	2.77	1.34	10,000
0.5	Plant Zone	Indicated	980,000	2,520,000	2.56	0.98	80,000
0.5	Youanmi FW Lodes	Indicated	310,000	840,000	2.74	2.40	65,000
0.5	Youanmi HW Lodes	Indicated	840,000	2,330,000	2.78	1.90	142,000
0.5	Youanmi Main Lode	Indicated	360,000	1,000,000	2.76	2.90	94,000
0.5	Youanmi Main Shear	Indicated	360,000	870,000	2.44	1.64	46,000
0.5	Currans Find	Indicated	60,000	140,000	2.32	4.17	18,000
	All	Indicated	3,440,000	9,070,000	2.64	1.89	552,000
0.5	Bunker	Inferred	60,000	150,000	2.66	1.61	8,000
0.5	Commonwealth	Inferred	60,000	160,000	2.74	2.01	10,000
1.5	Grace	Inferred	160,000	420,000	2.66	5.25	71,000
0.5	Link Lodes	Inferred	230,000	650,000	2.79	1.17	25,000
0.5	Plant Zone	Inferred	1,610,000	4,310,000	2.67	1.00	138,000
0.5	Youanmi FW Lodes	Inferred	320,000	890,000	2.78	2.05	59,000
0.5	Youanmi HW Lodes	Inferred	290,000	810,000	2.79	2.10	55,000
0.5	Youanmi Main Lode	Inferred	250,000	700,000	2.79	2.07	46,000
0.5	Youanmi Main Shear	Inferred	320,000	800,000	2.50	1.50	38,000
0.5	Currans Find	Inferred	20,000	40,000	2.56	2.53	3,000
	All	Inferred	3,320,000	8,930,000	2.69	1.58	453,000
0.5	Bunker	Total	270,000	720,000	2.65	2.05	47,000
0.5	Commonwealth	Total	230,000	610,000	2.61	1.91	38,000
1.5	Grace	Total	210,000	550,000	2.64	5.65	100,000
0.5	Link Lodes	Total	310,000	870,000	2.78	1.22	34,000
0.5	Plant Zone	Total	2,590,000	6,820,000	2.63	0.99	218,000
0.5	Youanmi FW Lodes	Total	630,000	1,740,000	2.76	2.22	124,000
0.5	Youanmi HW Lodes	Total	1,130,000	3,150,000	2.78	1.95	197,000
0.5	Youanmi Main Lode	Total	610,000	1,700,000	2.77	2.56	140,000
0.5	Youanmi Main Shear	Total	670,000	1,670,000	2.47	1.57	84,000
0.5	Currans Find	Total	70,000	180,000	2.37	3.81	22,000
	All	Total	6,720,000	18,010,000	2.68	1.74	1,004,000

Near Surface Resources by Area

Probability plots and histograms were used to confirm that domaining produced consistent data sets and to generate top cuts. Analysis was undertaken for composite data inside the mineralisation wireframes. High grade cuts (top cuts) were applied that ranged from 8 g/t Au to 60 g/t Au. A 125g/t Au top was used for the Grace deposit.

The resource estimations were generated using Ordinary Kriging Interpolation techniques, using Micromine 2022 software. Higher grade outlier samples were cut on an area basis. Parent cell block sizes were 5m x 10m x 5m, rotated to a strike of 330°. Sub-celling was used to honour geological, open pit and underground void boundaries. Model interpolation honoured the mineralisation boundaries, with only composites within a domain being used to estimate that domain. Cut-off grades remained the same as those used in the 2021 estimate, (0.5g/t Au for Near Surface Deposits). The Grace deposit which is high grade and has a relatively high nugget has a higher cut-off grade of 1.5 g/t Au.

Block model validation was carried out in several ways, including visual inspection on sections, long sections and plans, and in 3D, model vs composite statistics, swathe plot validation with all validation methods producing reasonable results.

The Mineral Resource was classified as Indicated or Inferred based on the level of geological understanding of the mineralisation and the drill hole spacing. Drill hole sample spacing was the primary metric with Indicated Resources classified where sample spacing was 40m or less. The Inferred classification generally represents areas with drill hole spacing 40m to 75m apart.

Mining and Metallurgical Methods

It has been assumed that the Youanmi Near Surface Deposits will be mined by conventional open pit methods. No dilution has been built into the resource model.

No assumptions have been made about metallurgical factors. The oxide ores at Youanmi are essentially free milling, with historic oxide plant performance via the conventional CIP circuit demonstrating an average gold recovery of 89.4% over the seven years of operation.

Figure 4: Plan Showing Near Surface Resource (not including Airstrip 1km to the south, Commonwealth 1km to the north, and Curran's Find 30km to the south)

ROX RESOURCES LIMITED 10 Level 2, 87 Colin Street, West Perth WA 6005 +61 8 9226 0044

ASX CODE: RXL

Forward Plan

The Company continues its approach of simultaneously exploring and conducting mining studies. Ongoing and planned activities at Youanmi include:

• Inferred to indicated resource conversion and exploration drilling;
• Feasibility level underground and open pit metallurgical testwork;
• Scoping level study processing plant design and costing; and
• Mine design and environmental work.

The Company looks forward to providing updates on these activities as information becomes available.

Authorised for release to the ASX by the Board of Rox Resources Limited.

*** ENDS ***

For more information:

Alex Passmore Managing Director Rox Resources Limited Tel: +61 8 9226 0044 admin@roxresources.com.au Matt Hogan Managing Director Venus Metals Corporation Limited Tel: +61 8 9321 7541

ASX CODE: RXL

Competent Person's Statement

Resource Statement

The information in this release that relates to the Youanmi Near Surface Deposits is based on information compiled by Mr Lynn Widenbar, a Competent Person who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Widenbar is a full time employee of Widenbar and Associates Pty Ltd. Mr Widenbar visited site on 9th and 10th May 2018 and reviewed the general site layout, open pit exposures, diamond drill core and the detailed paper data available in the map room and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that is being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves'. Mr Widenbar consents to the inclusion in the release of the matters based on his information in the form and context that the information appears.

The Statement of Estimates of Mineral Resources for the Youanmi Underground Resource was reported by Rox in accordance with ASX Listing Rule 5.8 in the announcement released to the ASX on 20th January 2022. Rox confirms it is not aware of any new information or data that materially affects the information included in the previous announcements and that all material assumptions and technical parameters underpinning the estimates in the previous announcements continue to apply and have not materially changed.

Forward‐Looking Statements

This document may include forward‐looking statements. Forward‐looking statements include, but are not limited to, statements concerning Rox Resources Limited planned exploration program(s) and other statements that are not historical facts. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may", "potential," "should," and similar expressions are forward looking statements.

ASX CODE: RXL

About Rox Resources

Rox Resources (ASX:RXL) is a West Australian focused gold exploration and development company. It is the 70 per cent owner and operator of the historic Youanmi Gold Project near Mt Magnet, approximately 480 kilometres northeast of Perth, and wholly-owns the Mt Fisher Gold project approximately 140 kilometres southeast of Wiluna. Youanmi has a Total Mineral Resource of 3,199 koz of contained gold, with potential for further expansion with the integration of existing prospects into the Resource and further drilling. Youanmi was a high-grade gold mine and produced 667,000ozof gold (at 5.47 g/t Au) before it closed in 1997. Youanmi is classified as a disturbed site and is on existing mining leases which has significant existing infrastructure to support a return to mining operations.

_______________________________________________________________________________________

Summary of the Resource Parameters:

A summary of JORC Table 1 for the "Youanmi Near Surface Deposits – June 2021" was provided in an ASX announcement on 23rd June 2021 (RXL: Substantial 39% increase to Youanmi Gold Project Resource to 1.7Moz, 23rd June 2021) and a summary of JORC Table 1 for the "Youanmi Deeps Mineral Resource Estimate – January 2022" was provided in an ASX announcement on 20th January 2022 (RXL: Youanmi Deeps Resource Upgrade Lifts Total Youanmi Resource to 3 Moz Au, 20th January 2022), while a summary of JORC Table 1 is provided below for the "Youanmi Near Surface Deposits – April 2022", and the compliance regarding the Mineral Resource reported within and in-line with requirements of ASX Listing Rule 5.8.1.

Resources Limited – Youanmi Near Surface Deposits – April 2022

JORC Code, 2012 Edition – Table 1

Section 1 Sampling Techniques and Data

Criteria	JORC Code explanation	Commentary
Samplingtechniques	Nature and quality of sampling (eg cutchannels, random chips, or specificspecialised industry standard measurementtools appropriate to the minerals underinvestigation, such as down hole gammasondes, or handheld XRF instruments, etc).These examples should not be taken aslimiting the broad meaning of sampling.Include reference to measures taken toensure sample representivity and theappropriate calibration of any measurementtools or systems used.Aspects of the determination ofmineralisation that are Material to the Public	RCsampleswerecollectedover1mintervalsandrifflesplit,baggedanddispatched to the laboratoriesDiamondcorewascutaccordingtolithological intervals and dispatched to thelaboratories.
	Report.In cases where 'industry standard' work hasbeen done this would be relatively simple(eg 'reverse circulation drilling was used toobtain 1 m samples from which 3 kg waspulverised to produce a 30 g charge for fireassay'). In other cases more explanationmay be required, such as where there iscoarse gold that has inherent samplingproblems. Unusual commodities ormineralisation types (eg submarinenodules) may warrant disclosure of detailedinformation.
Drillingtechniques	Drill type (eg core, reverse circulation,open-hole hammer, rotary air blast, auger,Bangka, sonic, etc) and details (eg core	TheYouanmiNearSurfaceDepositsResource Estimate is based on the results of2,624 RC drill holes and 554 diamond core

ASX CODE: RXL

Criteria	JORC Code explanation	Commentary
	diameter, triple or standard tube, depth of	drill holes.
	diamond tails, face-sampling bit or othertype, whether core is oriented and if so, bywhat method, etc).	All RC drilling used face sampling hammers.Diamond drilling, predominantly made use ofNQ size drill bits.
		Rox RC hole diameter was 5.5" (140 mm)reverse circulation percussion (RC). Drillholes were generally angled at -65°° towardsgrid northeast to intersect geology as closeto perpendicular as possible
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 of fine/coarse	Limited records relating to historical RC ordiamond core sample recoveries have beenidentified,however,wheredescribed,samplingandrecoveryproceduresareconsistent with standard Australian industrystandards (Yeates, R.J. 2003).
		Rox RC drill recoveries were high (>90%).Samples were visually checked for recovery,moisture and contamination and notes madein the logs.
	material.	There is no observable relationship betweenrecovery and grade, and therefore nosample bias.
Logging	Whether core and chip samples have beengeologically and geotechnically logged to alevel of detail to support appropriate MineralResource estimation, mining studies andmetallurgical studies.Whether logging is qualitative orquantitative in nature. Core (or costean,channel, etc) photography.The total length and percentage of therelevant intersections logged.	All RC and diamond core samples weregeologically logged. RC drilling returns werelogged in sufficient detail, recording allsignificant properties, to allow geologicalmaps and sections to be constructed.
		Detailed geological logs have been carriedout on all Rox RC holes, but no geotechnicaldata have been recorded (or is possible tobe recorded due to the nature of thesample).
		Logging of Rox RC chips recorded lithology,mineralogy,mineralisation,weathering,colour, and other sample features. RC chipsare stored in plastic RC chip trays.
Subsamplingtechniquesand samplepreparation	If core, whether cut or sawn and whetherquarter, half or all core taken.If non-core, whether riffled, tube sampled,rotary split, etc and whether sampled wet or	Most of the historical diamond core wassampled using a diamond saw to providehalf core with a maximum sample length of1m.

Criteria	JORC Code explanation	Commentary
	dry.For all sample types, the nature, quality andappropriateness of the sample preparationtechnique.	Most of the historical RC intervals weresampled on a 1m basis via a cyclone into aplastic bag prior to splitting with a Jones rifflesplitter.
	Quality control procedures adopted for allsub-sampling stages to maximiserepresentivity of samples.	Resampling of RC samples took placewhere composite assays were greater than50ppb, 80ppb or 250ppb Au depending uponthe programme.
	Measures taken to ensure that the samplingis representative of the in situ materialcollected, including for instance results forfield duplicate/second-half sampling.	Rox RC samples were collected on the drillrig using a cone splitter. If any mineralisedsamples were collected wet these werenoted in the drill logs and database.AC
	Whether sample sizes are appropriate tothe grain size of the material being	samples were scooped directly from drillsample piles
	sampled.	TheRoxsamplepreparationfollowedindustry best practice. Photon samples weredried, crushed to nominal minus 3mm, andc. 500g linear split into photon assay jars foranalysis.
		Fire Assay samples were dried, coarsecrushingto~10mm,followedbypulverisation of the entire sample in an LM5or equivalent pulverising mill to a grind sizeof 85% passing 75 micron.
Quality ofassay dataandlaboratorytests	The nature, quality and appropriateness ofthe assaying and laboratory proceduresused and whether the technique isconsidered partial or total.	The majority of the historical assays used inthe final resource estimate are reportedly byFire Assay, with a minority by Aqua Regiadigest; however there is no informationcurrentlyavailableontheassay
	For geophysical tools, spectrometers,handheld XRF instruments, etc, the	methodology, so this cannot be confirmed.
	parameters used in determining theanalysis including instrument make andmodel, reading times, calibrations factorsapplied and their derivation, etc.Nature of quality control proceduresadopted (eg standards, blanks, duplicates,external laboratory checks) and whetheracceptable levels of accuracy (ie lack ofbias) and precision have been established.	Most of the historical diamond core sampleswereassayedatMetanain-houselaboratory,mainlyusingfireassaytechniques.
		Goldcrest samples were assayed for Au atGenalysisLaboratoriesofMaddington,Perth, using 50g charge fire assay to0.01ppm detection limit.
		Rox field QC procedures involve the use ofCertified Reference Materials (CRM's) asassay standards, along with duplicates andblank samples. The insertion rate of these

Criteria	JORC Code explanation	Commentary
		was approximately 1:20
		For Rox RC drilling field duplicates weretaken on a routine basis at an approximate1:20ratiousingthesamesamplingtechniques (i.e. cone splitter) and insertedinto the sample run.
		The sample sizes are considered more thanadequate to ensure that there are no particlesize effects relating to the grain size of themineralisation which lies in the percentagerange.
		TheanalyticaltechniqueinvolvedPhotonassay method on 500g sub-sample.The analytical technique involved Fire Assay50g for check samples.
		Internallaboratorycontrolproceduresinvolve duplicateassaying of randomlyselected assay pulps as well as internallaboratory standards. All of these data arereported to the Company and analysed forconsistency and any discrepancies
Verificationof samplingand assaying	The verification of significant intersectionsby either independent or alternative	Historical assay quality control measuresare largely unknown.
	Company personnel.The use of twinned holes.	Regular duplicates with satisfactory resultswere reported from some programmes. The
	Documentation of primary data, data entryprocedures, data verification, data storage(physical and electronic) protocols.	Metana(bulkofhistoricalsamples)laboratory appears to have systematicallyundertaken a 10% duplicate fire assayanalysis.Nosystemofsubmissionof
	Discuss any adjustment to assay data.	standardreferencematerialandblanksamples is believed to have been in place atthe time of this drilling, in line with localindustry practice at that time
		Goldcrest took field duplicates, standardsand blanks on an approximate 1 in 20 basis(5%) and all Goldcrest drill samples weresubmitted for assay.
		Goldcrest twin drilling in shallower areas hasverified the drill results of previous explorers.
		The majority of the historical assay datarelate to resources that have subsequently

Criteria	JORC Code explanation	Commentary
		been mined. Historical quality assuranceand quality control data relating to theremaining resources is either no longeravailable or is inconsistently reported. Giventhe large amount of exploration data and thelong time period over which the data wasgenerated it was not possible for RSG(Yeates, 2003) to independently verify thequality of the data.
		Senior Rox personnel from the Companyhave visually inspected mineralisation withinsignificant intersections
		Two twin RC holes have been completed byRox at the Grace Prospect and confirmreliability of previous results
		Primary data was collected using a standardset of Excel templates on Toughbook laptopcomputers in the field. These data aretransferred to Geobase Pty Ltd for dataverification and loading into the database.
		Noadjustmentsofassaydataareconsidered necessary.
Location ofdata points	Accuracy and quality of surveys used tolocate drill holes (collar and down-hole	Historical data was surveyed in a mixture oflocal and AMG84 coordinates.
	surveys), trenches, mine workings andother locations used in Mineral Resourceestimation.	Recent drillholes (Goldcrest, Rox) havebeen surveyed using differential GPS tools.Older holes (largely Eastmet or GMA) do not
	Specification of the grid system used.Quality and adequacy of topographic	haverecordsofthesurveymethods,although typically these are expected to be
	control.	by total station tools.Alllocationandtopographicdatahassubsequently been converted to the GDA94Zone 50 Datum.
		Approximately 50% of drill holes have beendown-hole surveyed. Drill holes less than100 m long typically show a minor degree ofdown-hole deviation.
		The topography of the mined open pits iswell defined by monthly survey pickups.
		Thereliabilityofthesurveydataforpreviouslyminedundergroundvoidsis

Criteria	JORC Code explanation	Commentary
		highly variable; with some of the data havingquestionable accuracy.
Data spacinganddistribution	Data spacing for reporting of ExplorationResults.	Average drill hole density is highly variable,ranging from 10m x 10m to 160m x 160m,and generally decreasing with depth.
	Whether the data spacing and distribution issufficient to establish the degree ofgeological and grade continuity appropriatefor the Mineral Resource and Ore Reserveestimation procedure(s) and classifications	No sample compositing has occurred fordiamond core drilling. Sample intervals arebased on geological boundaries with evenone metre samples between.
	applied.Whether sample compositing has beenapplied.	For RC samples, 1m samples through targetzones were sent to the laboratory foranalysis. The remainder of the hole wassampled using 4m composite samples.
		For 4m composite samples >0.25g/t Au, 1msamples were collected and sent to thelaboratory for analysis
Orientationof data inrelation togeologicalstructure	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 mineralisation strikes generally NNWSSE and dips to the west at approximately -50 degrees. In the Youanmi Main Shearthere is generally a 30 degree plunge to theNorth WestRC and diamond drill holes were oriented,wherever possible, perpendicular to themain shear/ore zone structures containingthe mineralisation.
Samplesecurity	The measures taken to ensure samplesecurity.	The chain of custody for historical samplesis not well documented, but was reviewed byRSG (Yeates, 2003) and found to beconsistent with the standard practice for thetime.Sufficient security measures weretaken by Rox prior to delivery of the samplesto the laboratory. Samples were kept in alocked core storage area until transport bytruck to the laboratory.
Audits orreviews	The results of any audits or reviews ofsampling techniques and data.	Goldcrest conducted a thorough review ofhistorical sampling and assay techniquesand data in September, 2004.A high level review of sampling techniquesand data has been undertaken by an

Criteria JORC Code explanation Commentary

independent third party consultant.

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.	Rox Resources Ltd is in a Joint VentureAgreement with Venus Metals Corporation Ltdunder which it has a 70% interest in theYouanmi Gold Mine Joint Venture (OYG JointVenture). Tenements in the JV consist of thefollowingminingleases:M57s/10,51,76,97,109, 135, 160A, 164, 165, 166 and167.The tenements are in good standing and noknown impediments exist
Explorationdone by otherparties	Acknowledgment and appraisal ofexploration by other parties.	Significant previous exploration has beencarried out throughout the project by variouscompanies, including AC/RAB, RC drilling anddiamond drilling
		1971-1973 WMC: RAB, RC and surfacediamond drilling
		1976 Newmont: 10 surface diamond drillholes(predominantly targeting base metals).
		1980-1986BHP: RAB,RC and surfacediamonddrilling(predominantlytargetingbase metals).
		1986-1993 Eastmet: RAB, RC and surfacediamond drilling.
		1993-1997 Goldmines of Australia: RAB, RCand surface diamond drilling. Undergroundmining and associated underground diamonddrilling.
		2000-2003 Aquila Resources Ltd: ShallowRAB and RC drilling
		2004-2005 Goldcrest Resources Ltd: ShallowRAB and RC drilling; data validation.
		2007-2013 Apex Minerals NL: 9 diamondholes targeting extensions to the Youanmi

Criteria	JORC Code explanation	Commentary
		deeps resource.
Geology	Deposit type, geological setting and styleof mineralisation.	The Youanmi Project straddles a 40km strikelength of the Youanmi Greenstone Belt, lyingwithin the Southern Cross Province of theArchaean Yilgarn Craton in Western Australia.
		The greenstone belt is approximately 80kmlong and 25km wide, and incorporates anarcuate, north-trending major crustal structuretermed the Youanmi Fault Zone.
		Thisstructureseparatestwodiscordantgreenstone terrains, with the stratigraphy tothe west characterised by a series of weaklydeformed,layeredmaficcomplexes(Windimurra, Black Range, Youanmi andBarrambie) enveloped by strongly deformed,north-northeast trending greenstones.
		Goldmineralisationisdevelopedsemicontinuously in shear zonesover a strikelength of 2,300m along the western margin ofthe Youanmi granite.
		TheYouanmigoldlodesareinvariablyassociated with a high pyrite and minorarsenopyrite content.
		There are a series of major fault systemscuttingthroughtheYouanmitrendmineralisation that have generated somesignificant off-sets.
		TheYouanmiDeepsprojectareaissubdivided into three main areas or faultblocksbycross-cuttingsteepsouth-easttrending faults; and these are named Pollard,Main, and Hill End from southto northrespectively.
		Granite hosted gold mineralisation occurs atseveral sites, most notably Grace and thePlant Zone Prospects.
		Gold mineralization occurs as free particleswithin quartz-sericite altered granite shearzones.
		The Commonwealth-Connemarra mineralisedtrendiscentred4kmnorthwestofthe

Criteria	JORC Code explanation	Commentary
		Youanmi plant. The geology comprises asequence of folded mafic and felsic volcanicrocks intercalated with BIF and intruded bygranitealongtheeasternmargin.Goldmineralisation is developed over a 600m strikelength, associated with a north trending andsteeply west dipping shear zone that traversesthe northwest trending succession.
Drill holeInformation	A summary of all information material tothe understanding of the explorationresults including a tabulation of thefollowing information for all Material drillholes:easting and northing of the drill hole collar	Exploration Results are not being reported.
	elevation or RL (Reduced Level –elevation above sea level in metres) ofthe drill hole collar
	dip and azimuth of the hole
	down hole length and interception depth
	hole length.
	If the exclusion of this information isjustified on the basis that the informationis not Material and this exclusion doesnot detract from the understanding of thereport, the Competent Person shouldclearly explain why this is the case.
Dataaggregationmethods	In reporting Exploration Results,weighting averaging techniques,maximum and/or minimum gradetruncations (eg cutting of high grades)and cut-off grades are usually Materialand 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 typicalexamples of such aggregations should beshown in detail.The assumptions used for any reporting of	Exploration Results are not being reported.

Criteria	JORC Code explanation	Commentary
	metal equivalent values should be clearlystated.
Relationshipbetweenmineralisationwidths andinterceptlengths	These relationships are particularly importantin the reporting of Exploration Results.If the geometry of the mineralisation withrespect to the drill hole angle is known, itsnature should be reported.If it is not known and only the down holelengths are reported, there should be a clearstatement to this effect (eg 'down hole length,true width not known').	Exploration intercepts are not being reported.However, where possible drill holes areoriented to cut at right angles across themineralised zones.
Diagrams	Appropriate maps and sections (with scales)and tabulations of intercepts should beincluded for any significant discovery beingreported These should include, but not belimited to a plan view of drill hole collarlocations and appropriate sectional views.	Appropriate maps and sections are availablein the body of the report.
Balancedreporting	Where comprehensive reporting of allExploration Results is not practicable,representative reporting of both low and highgrades and/or widths should be practiced toavoid misleading reporting of ExplorationResults.	Reporting of results in this report is consideredbalanced.
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.	Exploration results are not being reported.
Further work	The nature and scale of planned furtherwork (eg tests for lateral extensions,depth extensions or large-scale step-outdrilling).Diagrams clearly highlighting the areas ofpossible extensions, including the maingeological interpretations and futuredrilling areas, provided this information isnot commercially sensitive.	Further work will include infill and extensiondrilling.

Section 3 Estimation and Reporting of Mineral Resources

(Criteria listed in section 1, and where relevant in section 2, also apply to this section.)

Criteria	JORC Code explanation	Commentary
Databaseintegrity	Measures taken to ensure that data hasnot been corrupted by, for example,transcription or keying errors, betweenits initial collection and its use forMineral Resource estimation purposes.Data validation procedures used.	Goldcrest completed a stringent validation ofthe historical database, excluding unreliabledata as relevant.Standard validation techniques have beenapplied to the data of Goldcrest Mines andprevious explorers.The Rox Youanmi project database is managedbyGeobaseAustraliaPtyLtdusingtheAzeva.XDB Database Management System.The database is stored using the Microsoft'sSQL Server 2019 database engine on a SecureNetworkserverrunningthelatestSBSAdministrativeaccesstothedatabaseisrestricted to Geobase Personnel only who havebeen trained in database management.All appropriate and valid changes requestedfrom site are made only by Geobase.Sitepersonnel do not have the ability to edit thedatabase, which allows the integrity of the datato be maintained.Geobase generates a backup of the databaseand associated data on a regular basisThe database is configured to store assayquality control measures undertaken on theassaying.The following types of quality control data forassaying is stored:•FieldIntroducedQualityControlSampling Measures:•FieldDuplicates–Totesttherepeatability of samples sourced in thefield•Field Introduced Standards•Laboratory Introduced Quality ControlSampling Measures:•Laboratory Introduced Standards•CoarseRejectRepeats–Repeatsamples selected from the first stagesample preparation by the laboratory•AssayReproducibilityTests–Designed to test the reproducibility ofthe sample analysis, undertaken by thelaboratory as a separate batch, run withsamples sourced from the primary pulpsample•Assay Repeatability Tests – Designedtotestrepeatabilityofsamples,

Criteria	JORC Code explanation	Commentary
		undertaken by the laboratory during themain assay run and sourced from theprimary pulp sample•AlternativeLabChecks–Repeatanalysis of pulp samples at differentlaboratory/s•SampleWeights–Assessingthesample weight distributionThe data is subject to a number of validationprocedureswhichwereperformedduringvarious stages of data collation. Validationmethodsincludedcode,multi-tableandspatial.Thedatabasecontainsvalidationscripts which prevent non-standard charactercodes being used and also checks numericvalues against a minimum and maximum range.All previous codes have been made consistentwith the new standardized coding system. Thisallowedrationalizationofcodesbetweendifferent generations of companies, geologistsand logging methodologies, and also removedany typographical errors.Validation on the spatial distribution of drill holeor surface sampling data is often difficult.Thisprocessisongoingasmoredetailedassessment of the drilling is undertaken.
Site visits	Comment on any site visits undertakenby the Competent Person and theoutcome of those visits.If no site visits have been undertakenindicate why this is the case.	The Competent Person visited site on 9th and10th May 2018 and reviewed the general sitelayout, open pit exposures, diamond drill coreand the detailed paper data available in the maproom.
Geologicalinterpretation	Confidence in (or conversely, theuncertainty of ) the geologicalinterpretation of the mineral deposit.Nature of the data used and of anyassumptions made.The effect, if any, of alternativeinterpretations on Mineral Resourceestimation.The use of geology in guiding andcontrolling Mineral Resource estimation.The factors affecting continuity both ofgrade and geology.	Interpretation of the lithological boundaries andthe proposal of a conceptual model for themineralisation are supported by a sufficientamount of drilling.Geological continuity is based upon a coherentand predictable model, and is confirmed in bothsectional and plan analyses. The model is anacceptable genetic model of shear hosted goldmineralisation.A geological model was developed using allavailable diamond core and RC drill hole dataand surface exposures.A three dimensional mineralised shell wasconstructed using indicator modelling at anominal0.3g/tcut-off,andthiswassubsequentlyfilledwithblocksforgradeestimation.Further drilling and/or mapping is expected torefine the geological model in the future.
Dimensions	The extent and variability of the MineralResource expressed as length (alongstrike or otherwise), plan width, and	TheYouanmiNearSurfaceResourcecomprises several zones of mineralisationcomprising ~2.75 km strike length and 100m to

Criteria	JORC Code explanationdepth below surface to the upper andlower limits of the Mineral Resource.	Commentary280m depth extent, and trending between 320°and 350°.Dips are variable between 30° and 70° to thewest with a plunge of +/- 30° to the North Westin the Youanmi Main Shear Zone.The width of mineralised zones varies from 2mto more than 30m.
Estimationandmodellingtechniques	The nature and appropriateness of theestimation technique(s) applied and keyassumptions, including treatment ofextreme grade values, domaining,interpolation parameters and maximumdistance of extrapolation from datapoints. If a computer assisted estimationmethod was chosen include adescription of computer software andparameters used.The availability of check estimates,previous estimates and/or mineproduction records and whether theMineral Resource estimate takesappropriate account of such data.The assumptions made regardingrecovery of by-products.Estimation of deleterious elements orother non-grade variables of economicsignificance (eg sulphur for acid minedrainage characterisation).In the case of block model interpolation,the block size in relation to the averagesample spacing and the searchemployed.Any assumptions behind modelling ofselective mining units.Any assumptions about correlationbetween variables.Description of how the geologicalinterpretation was used to control theresource estimates.Discussion of basis for using or notusing grade cutting or capping.The process of validation, the checkingprocess used, the comparison of modeldata to drill hole data, and use ofreconciliation data if available.	A total of 21 mineralised wireframes weremodelledcomprisingtheMineLodeandassociated footwall and hanging-wall lodes. Thewireframes were created in Seequent LeapfrogGeo mining software ("Leapfrog") using acombination of logged geology and gold gradeto identify the mineralised intervals in drill holes.Merged tables of assay and lithology werecreated in Leapfrog and the interval selectionfunction was used to code the intersections asbelonging to one of the mineralised lodes. Nominimum or maximum thickness values wereapplied for interpretation of the lodes.The mineralisation wireframes used for theprevious January 2022 Youanmi UndergroundMineralResourcewereupdatedwiththeadditional assays received since the date of theprevious database. The wireframes have allbeen terminated by the base of oxidationsurface. Above this surface (ie in the oxidezone) and outside the area of the wireframes,indicator modelling has been used to definemineralisation.Probability plots and histograms were used toconfirm that domaining produced consistentdata sets and to generate top cuts. Analysiswas donefor composite datainside themineralisation wireframes. High grade cuts (topcuts) were applied that ranged from 8 g/t Au to60 g/t Au. A 125g/t Au top was used for theGrace deposit.The resource estimations were generated usingOrdinary Kriging Interpolation techniques, usingMicromine 2022 software. Higher grade outliersamples were cut on an area basis. Parent cellblock sizes were 5m x 10m x 5m, rotated to astrike of 330°. Sub-celling was used to honourgeological, open pit and underground voidboundaries. Model interpolation honoured themineralisationboundaries,withonlycomposites within a domain being used toestimate that domain. Cut-off grades remainedthe same as those used in the 2021 estimate,(0.5g/t Au for Near Surface Deposits).TheGrace deposit which is high grade and has a

Criteria	JORC Code explanation	Commentary
		relatively high nugget has a higher cut-off gradeof 1.5 g/t Au.
		Block model validation was carried out inseveral ways, including visual inspection onsections, long sections and plans, and in 3D,model vs composite statistics, swathe plotvalidation with all validation methods producingreasonable results.TheMineralResourcewasclassifiedasIndicated or Inferred based on the level ofgeological understanding of the mineralisationand the drill hole spacing. Drill hole samplespacing was the primary metric with IndicatedResources classified where sample spacingwas 40m or less. The Inferred classificationgenerallyrepresentsareaswithdrillholespacing 40m to 75m apart.
Moisture	Whether the tonnages are estimated ona dry basis or with natural moisture, andthe method of determination of themoisture content.	Tonnages are estimated on a dry basis.
Cut-offparameters	The basis of the adopted cut-offgrade(s) or quality parameters applied.	All Mineral Resources have been reported at aseries of lower cut-offs. .
Miningfactors orassumptions	Assumptions made regarding possiblemining methods, minimum miningdimensions and internal (or, ifapplicable, external) mining dilution. It isalways necessary as part of the processof determining reasonable prospects foreventual economic extraction toconsider potential mining methods, but	It has been assumed that the Youanmi NearSurface Deposits will be mined by conventionalopen pit methods.No dilution has been built into the resourcemodel.
	the assumptions made regarding miningmethods and parameters whenestimating Mineral Resources may notalways be rigorous. Where this is thecase, this should be reported with anexplanation of the basis of the miningassumptions made.
Metallurgicalfactors orassumptions	The basis for assumptions or predictionsregarding metallurgical amenability. It isalways necessary as part of the processof determining reasonable prospects foreventual economic extraction toconsider potential metallurgicalmethods, but the assumptions regardingmetallurgical treatment processes andparameters made when reportingMineral Resources may not always berigorous. Where this is the case, thisshould be reported with an explanationof the basis of the metallurgical	Noassumptionshavebeenmadeaboutmetallurgical factors.The oxide ores at Youanmi are essentially freemilling, with historic oxide plant performance viathe conventional CIP circuit demonstrating anaverage gold recovery of 89.4% over the sevenyears of operation.A 120 tpd bacterial oxidation circuit wascommissioned in September 1994 to treatsulphide concentrates, using the BacTechprocess.BacTechusesamoderatelythermophilic culture with an optimum growthtemperature of 45C.

Criteria	JORC Code explanation	Commentary
		A pilot plant trial from October 1993 to July 1994tested three bulk samples of concentrate. Afterbacterial oxidation, recoveries up to 99% wereachieved.
		The performance between 1995 and 1997 ofthe flotation and bacterial oxidation circuit wasgenerally lower than budgeted due almostentirely to below budget ore deliveries. Althoughthe plant rarely achieved its full capability, itconsistentlyexceededtheprojectedmetallurgical recovery of 81%, with an averagerecovery of 87.5%.
		Blending of ore was not anticipated prior tocommissioning and feed variability createdsignificant problems for both the flotation andbacterial oxidation circuits.
		Operating performance history demonstrates asteadilyincreasingrecovery,withinitialcommissioning values of 85% increasing rapidlyto a maximum of 92.4% in 1994-95. This isindicative of improving metallurgical control anddiminishing amounts of reactive sulphide fromtransitional zones. Based on historical operatingdata, one of the most significant factorsaffecting both throughput and recovery wasmechanical and equipment failures within thebio-oxidation circuit.
		Work was conducted in 2021 by OMC MineralConsultants to define the characteristics of theore and defining flowsheet options.Workinvolvedtwophasesofmineralogicalinvestigation; thin sections from core andquantitative analysis using electron microscopy,XRD and laser ablation ICP-MS. Metallurgicalextraction test work included comminution testwork, whole of ore leach tests and flotation testwork. The flotation concentrate was subject to 4extraction options; Ultrafine Grinding to P80 of15 and 10 micron material, basic two-stageroasting, basic pressure oxidation (POX) andNeutral Albion Leach (NAL).Thestudyconcludedtherecommendedflowsheet for the scoping study would comprisegrinding to P80 at 75 micron, flotation, Albionprocessing of the concentrate, cyanide leachingof theprocessed concentrate and separatecyanide leaching of the flotation tail with carbonadsorption to recover the gold from solution
Environmental factors or	Assumptions made regarding possible	The Youanmi Near Surface Deposits are
assumptions	waste and process residue disposaloptions. It is always necessary as part of	located in an area of considerable open pit andunderground mining activity and, as such, there

Criteria	JORC Code explanation	Commentary
	the process of determining reasonableprospects for eventual economicextraction to consider the potentialenvironmental impacts of the mining andprocessing operation. While at this stagethe determination of potentialenvironmental impacts, particularly for agreenfields project, may not always bewell advanced, the status of earlyconsideration of these potentialenvironmental impacts should bereported. Where these aspects have notbeen considered this should be reportedwith an explanation of the environmentalassumptions made.	areconsideredtobenosignificantenvironmental issues.
Bulk density	Whether assumed or determined. Ifassumed, the basis for the assumptions.If determined, the method used, whetherwet or dry, the frequency of themeasurements, the nature, size andrepresentativeness of the samples.The bulk density for bulk material musthave been measured by methods thatadequately account for void spaces(vugs, porosity, etc), moisture anddifferences between rock and alterationzones within the deposit.Discuss assumptions for bulk densityestimates used in the evaluationprocess of the different materials.	GMA carried out determinations of in-situ bulkdensities on drill core using the weight inwater/weight in air method for fresh core.The spacing and distribution of data is such thatit was not deemed possible to accurately subdomain and interpolate into areas of differingbulk density values.Surfaces have been generated to representbase of oxide (30m below and parallel tosurface) and base of saprolite/top of fresh (70mbelow and parallel to surface for most depositsand 85m below for Grace).Thefollowingbulkdensitieshavebeenassigned to these domains in the main Youanmiarea:•Oxide2.3 t/m3Transition 2.6 t/m3••Fresh2.8 t/m3In the Currans Find deposits the following bulkdensities have been assigned:•Oxide2.0 t/m3•Transition 2.2 t/m3•Fresh2.6 t/m3
Classification	The basis for the classification of theMineral Resources into varyingconfidence categories.Whether appropriate account has beentaken of all relevant factors (ie relativeconfidence in tonnage/gradeestimations, reliability of input data,confidence in continuity of geology andmetal values, quality, quantity anddistribution of the data).Whether the result appropriately reflectsthe Competent Person's view of thedeposit.	The Mineral Resource has been classified in theIndicatedandInferredcategories,inaccordance with the 2012 Australasian Code forReportingof MineralResources and OreReserves (JORC Code). A range of criteria hasbeenconsideredindeterminingthisclassification including:•Geological and grade continuity•Data quality.•Drill hole spacing.•Modelling technique and kriging outputparameters,includingKrigingEfficiency, search pass and number ofcomposites used.The Competent Person is in agreement with this

Criteria	JORC Code explanation	Commentary
		classification of the resource.
Audits orreviews	The results of any audits or reviews ofMineral Resource estimates.	The resource estimate has not been externallyaudited.
Discussionof relativeaccuracy/confidence	Where appropriate a statement of therelative accuracy and confidence level inthe Mineral Resource estimate using anapproach or procedure deemedappropriate by the Competent Person.For example, the application ofstatistical or geostatistical procedures toquantify the relative accuracy of theresource within stated confidence limits,or, if such an approach is not deemedappropriate, a qualitative discussion ofthe factors that could affect the relativeaccuracy and confidence of theestimate.The statement should specify whether itrelates to global or local estimates, and,if local, state the relevant tonnages,which should be relevant to technicaland economic evaluation.Documentation should includeassumptions made and the proceduresused.These statements of relative accuracyand confidence of the estimate shouldbe compared with production data,where available.	The relative accuracy of the various resourceestimates is reflected in the JORC resourcecategories.At the Indicated Resource classification level,the resources represent local estimates that canbe used for further mining studies.Inferred Resources are considered global innature.