ROX RESOURCES LIMITED — Regulatory Filings 2021

Aug 11, 2021

ASX ANNOUNCEMENT

12 August 2021

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RRL1774D
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Youanmi Near-Mine Prospects Continue to Deliver High-Grades

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.

Highlights:

• Assays received for 4 RC holes drilled at Youanmi (May 2021) with all holes intersecting gold mineralisation.

• Highlights include:

• RXRC402: 17m @ 5.14g/t Au from 151m, including 11m @ 7g/t Au from 156m (Link)

RXRC396: 9m @ 4.57g/t Au from 148m (Junction)

RXRC397: 2m @ 10.02g/t Au from 268m (Youanmi South)

• Latest results demonstrate strong potential for further increases in the Resource.

DIRECTORS

Mr Stephen Dennis Chairman

• RC and diamond drilling continues at new high-priority targets Link and Junction.

• Assays pending for 14 RC holes and 14 diamond holes at Junction and Link areas.

Mr Alex Passmore Managing Director

Dr John Mair Non-Executive Director

Shares on Issue 157.6m Share Price $0.40 Market Cap. $63.0m Cash & Receivables $15.0m (incl $3.1m receivable, cash as at 30 June 2021)

Level 2, 87 Colin Street, West Perth WA 6005

+61 8 9226 0044

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

___________

West Australian focused 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 provide an update on drill results from the Youanmi Gold Project near Mt Magnet, WA, in the OYG JV area (Rox 70% and Manager, VMC 30%).

Drilling continues at Youanmi, with diamond and RC rigs operating at the OYG JV and regional aircore drilling progressing at the VMC JV (Rox 50% and Manager, VMC 50%).

Assay results have been received for four RC holes and two diamond holes from the current drilling program at Youanmi. These holes were drilled during May. Results are pending for 14 RC and 14 diamond holes with drilling ongoing.

The highlights of this round of results include 17m @ 5.14g/t Au from 151m , including 11m @ 7g/t Au from 156m intersected in RXRC402 at Link (Table 1, Figure 1) and 9m @ 4.57g/t Au from 148m intersected in RXRC396 at Junction (Table 1, Figure 2)

Follow Rox:

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Managing Director Alex Passmore commented: “We are very pleased to announce ongoing successful drilling results. These high-grade results at Link will contribute to resource growth at Youanmi. They transform an area at relevant mining depths that were previously modelled as low grade into a priority zone for adding ounces.”

Resource Growth

The Company recently released a global Resource upgrade to 1.7Moz at 2.85g/t Au (RXL: 23 June 2021). Drilling on site is now focused on resource extension and Indicated Resource conversion around the near mine areas (Link and Junction). The recent infill hole RXRC402 has returned one of the best results from Link to date; the intersection of 17m @ 5.14g/t Au from 151m has identified a high-grade zone in an area previously modelled as low-grade inferred resource material. This result is likely to see an increase in both tonnes and grade in this area in subsequent resource estimations.

In conjunction with the high-grade intersection in RXRC402, assays have been received from two diamond extensional holes drilled at Link. The results sit outside the current resource and demonstrate continuity of highgrade mineralisation at depth.

• RXDD011: 6.53m @ 2.42g/t Au from 288m, including 1.71m @ 6.0g/t Au from 289.2m and 3m @ 3.47g/t Au from 309m.

• RXDD012: 2.03m @ 7.18g/t Au from 450.15m. Parallel hanging wall lodes above this returned 3.8m @ 2.4g/t Au from 432.2m and 1.28m @ 2.71g/t Au from 406.72m.

Link is open for resource growth down plunge to the north and down dip. The identification of high-grade mineralisation in step out and infill drilling continues to demonstrate the potential for further increases in the Resource.

Step out drilling is continuing at Junction into untested areas of the Main Lode structure to follow up on the result reported in this announcement (RXRC396: 9m @ 4.57g/t Au from 148m) and recently announced results from Junction which include (RXL: 23 April 2021).

• RXRC380: 4m @ 17.5g/t Au from 259m

• RXRC376: 4m @ 6.1g/t Au from 170m

• RXRC378: 3m @ 8g/t Au from 194m

• RXRC379: 3m @ 7.1g/t Au from 243m

Youanmi South

An exploration RC hole was completed at Youanmi South to follow up on previously reported high-grade results intersections of RXRC053: 4m @ 11.2 g/t Au from 110m and RXRC103: 1m @ 28g/t Au from 176m (ASX: RXL 24 September 2019) (Figure 3). This prospect is interpreted to be a new zone of NE striking, steeply north plunging mineralisation at the southern end of the Youanmi granite. RXRC397 was drilled 90m down plunge of previous drilling by Rox, the intersection of 2m @ 10.02g/t Au from 268m. It confirms that Youanmi South is open at depth and along strike. Follow up drilling is planned in this area.

ASX CODE: RXL

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

2

E: admin@roxresources.com.au www.roxresources.com.au

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Figure 1. Link area long section.

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Figure 2. Junction area long section.

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Figure 3. Plan view of Youanmi Mine Area with RC and Diamond intercepts.

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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 E: admin@roxresources.com.au

Matt Hogan Managing Director Venus Metals Corporation Limited Tel: +61 8 9321 7541

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Table 1 – Significant Intersections

Hole ID	Prospect	Drill **type **	From	to	Interval	Au g/t	Au g.m
RXRC395	Junction	RC	117	118	1	6.79	6.79
RXRC395	Junction	RC	166	168	2	0.98	1.96
RXRC395	Junction	RC	189	190	1	1.21	1.21
RXRC396	Junction	RC	140	144	4	0.5	2
RXRC396	Junction	RC	148	157	9	4.57	41.13
RXRC396	Junction	RC	191	196	5	0.67	3.35
RXRC396	Junction	RC	209	211	2	0.92	1.84
RXRC396	Junction	RC	213	215	2	0.87	1.74
RXRC396	Junction	RC	231	232	1	1.77	1.77
RXRC396	Junction	RC	244	245	1	1.58	1.58
RXRC397	Youanmi S	RC	263	264	1	3.96	3.96
RXRC397	Youanmi S	RC	268	270	2	10.02	20.04
RXRC402	Link	RC	124	126	2	2.33	4.66
RXRC402	Link	RC	137	139	2	0.91	1.82
RXRC402	Link	RC	151	168	17	5.14	87.38
Including			156	167	11	7	77
RXRC402	Link	RC	174	175	1	2	2
RXRC402	Link	RC	193	194	1	7.87	7.87
RXRC402	Link	RC	196	197	1	4.24	4.24
RXDD011	Link	DD	288	294.53	6.53	2.42	15.8
Including			289.2	209.91	1.71	6.0	10.26
RXDD011	Link	DD	299.46	303	3.54	1.51	5.35
RXDD011	Link	DD	309	312	3	3.47	10.41
RXDD012	Link	DD	406.72	408	1.28	2.71	3.47
RXDD012	Link	DD	432.2	436	3.8	2.4	9.12
RXDD012	Link	DD	450.15	452.18	2.03	7.18	14.57

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Table 2 - Collar Locations and Drilling Details

Hole ID	Prospect	**Drill Type **	East	North	RL	Depth	Dip	Azi	Comments
RXRC395	Junction	RC	679770	6833599	459	205	-60	65
RXRC396	Junction	RC	679925	6833407	457	270	-54	65
RXRC397	Youanmi S	RC	680233	6833198	455	282	-60	91
RXRC398	Junction	RC	679789	6833570	456	263	-57	65	Assayspending
RXRC400	Junction	RC	679807	6833509	455	300	-53	67	Assayspending
RXRC402	Link	RC	679342	6834561	467	200	-60	65
RXRC403	Bunker	RC	679741	6833084	458	276	-50	245	Assayspending
RXRC404	Kathleen	RC	678995	6834852	468	240	-60	65	Assayspending
RXRC405	Junction	RC	679784	6833549	456	294	-62	63	Assayspending
RXRC406	Link	RC	679261	6834475	467	264	-60	65	Assayspending
RXRC407	Link	RC	679257	6834513	467	254	-60	65	Assayspending
RXRC408	Link	RC	679259	6834471	466	264	-65	62	Assayspending
RXRC409	Link	RC	679287	6834458	466	278	-67	70	Assayspending
RXRC410	Link	RC	679351	6834484	466	220	-60	70	Assayspending
RXRC411	Link	RC	679268	6834587	468	240	-62	66	Assayspending
RXRC412	Link	RC	679203	6834574	466	270	-60	65	Assayspending
RXRC413	Link	RC	679299	6834576	467	200	-59	65	Assayspending
RXRC414	Link	RC	679230	6834547	467	270	-59	65	Assayspending
RXDD011	Link	DD	679208	6834416	465	350	-63	62
RXDD012	Link	DD	679105	6834158	464	478	-60	65
RXDD013	Junction	DD	679572	6833456	460	630.4	-63	61	Assayspending
RXDD014	Junction	DD	679528	6833528	461	706	-60	65	Assayspending
RXDD014W1	Junction	DD	679528	6833528	461	670	-60	65	Assayspending
RXDD015	Junction	DD	679893	6833276	457	429	-63	62	Assayspending
RXDD016	Junction	DD	679836	6833480	457	505	-60	65	Assayspending
RXDD017	Junction	DD	679797	6833547	456	345	-50	65	Assayspending
RXDD019	Link	DD	678935	6834350	468	548	-61	58	Assayspending
RXDD021	Link	DD	679104	6834517	466	327	-62	62	Assayspending
RXDD023	Junction	DD	679784	6833355	458	706	-63	58	Assayspending
RXDD023W1	Junction	DD	679784	6833355	458	510	-63	58	Assayspending
RXDD024	Junction	DD	679840	6833523	455	320	-50	65	Assayspending
RXDD026	Junction	DD	679093	6834429	468	402.3	-60	60	Assayspending
RXDD027	Main	DD	679222	6833800	461	617.8	-64	60	Assayspending

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Competent Person Statements

Exploration Results

The information in this report that relates to Data and Exploration Results is based on information compiled and reviewed by Mr Gregor Bennett a Competent Person who is a Member of the Australian Institute Geoscientists (AIG) and Exploration Manager at Rox Resources. Mr Bennett has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he has undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Bennett consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Where reference is made to previous releases of exploration results in this announcement, the Company confirms that it is not aware of any new information or data that materially affects the information included in those announcements and all material assumptions and technical parameters underpinning the exploration results included in those announcements continue to apply and have not materially changed.

The information in this report that relates to previous Exploration Results, was either prepared and first disclosed under the JORC Code 2004 or under the JORC Code 2012 and has been properly and extensively cross-referenced in the text to the date of the original announcement to the ASX. In the case of the 2004 JORC Code Exploration Results and Mineral Resources, they have not been updated to comply with the JORC Code 2012.

Resource Statements

The information in this report that relates to gold Mineral Resources for the Youanmi Project was reported to the ASX on 23 June 2021 (JORC 2012). Rox confirms that it is not aware of any new information or data that materially affects the information included in the announcement of 23 June 2021, and that all material assumptions and technical parameters underpinning the estimates in the announcement of 23 June 2021 continue to apply and have not materially changed.

The information in this report that relates to gold Mineral Resources for the Mt Fisher project was reported to the ASX on 11 July 2018 (JORC 2012). Rox confirms that it is not aware of any new information or data that materially affects the information included in the announcement of 11 July 2018, and that all material assumptions and technical parameters underpinning the estimates in the announcement of 11 July 2018 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.

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About Rox Resources

Rox Resources (ASX:RXL) is a West Australian focused gold exploration and development company. It is 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 1,656 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 667,000 oz of 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.

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JORC Table 1 - Section 1 Data and Sampling Techniques

Criteria	JORC Code explanation Commentary
Sampling techniques	Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. RC hole diameter was 5.5" (140 mm) reverse circulation percussion (RC). Sampling of RC holes was undertaken by collecting 1m cone split samples at intervals. Diamond drill hole core size is NQ2 size diameter through the mineralisation. Sampling of diamond holes was by cut half core as described further below. Drill holes were generally angled at -600towards grid northeast (but see Table for individual hole dips and azimuths) to intersect geology as close to perpendicular as possible.
	Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used Drillhole locations were picked up by differential GPS. Logging of drill samples included lithology, weathering, texture, moisture and contamination (as applicable). Sampling protocols and QAQC are as per industry best practice procedures.
	Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information RC drillholes were sampled on 1m intervals using a cone splitter. 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 lab and one half retained. 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. RC and diamond pulps were analysed by 50g Fire Assay with ICP-OES (Intertek code FA50/OE).
Drilling techniques	Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc). Drilling technique was Reverse Circulation (RC) and diamond core (DD). The RC hole diameter was 140mm face sampling hammer. Hole depths reported range from 200m to 300m for RC and 350m to 700m for diamond.
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed RC drill recoveries were high (>90%).
	Measures taken to maximise sample recovery and ensure representative nature of the samples Samples were visually checked for recovery, moisture and contamination and notes made in the logs.
	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. There is no observable relationship between recovery and grade, and therefore no sample bias.

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Criteria	JORC Code explanation Commentary
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. Detailed geological logs have been carried out on all RC, but no geotechnical data have been recorded (or is possible to be recorded due to the nature of the sample). Detailed geological and geotechnical logs were carried out on all diamond drill holes for recovery, RQD, structures etc. which included structure type, dip, dip direction, alpha angle, beta angle, texture, shape, roughness, fill material, and this data is stored in the database. The geological data would be suitable for inclusion in a Mineral Resource estimate.
	Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. Logging of diamond core and RC chips recorded lithology, mineralogy, mineralisation, weathering, colour, and other sample features. RC chips are stored in plastic RC chip trays.
	The total length and percentage of the relevant intersections logged All holes were logged in full.
Sub-sampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken. Drill core was cut in half on site using a core saw. All samples were collected from the same side of the core, preserving the orientation mark in the kept core half.
	If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. RC samples were collected on the drill rig using a cone splitter. If any mineralised samples were collected wet these were noted in the drill logs and database.
	For all sample types, the nature, quality and appropriateness of the sample preparation technique. The sample preparation followed industry best practice. Fire Assay samples were dried, coarse crushing to ~10mm, followed by pulverisation of the entire sample in an LM5 or equivalent pulverising mill to a grind size of 85% passing 75 micron.
	Quality control procedures adopted for all sub- sampling stages to maximise representivity of samples. Field QC procedures involve the use of Certified Reference Materials (CRM’s) as assay standards, along with duplicates and blank samples. The insertion rate of these was approximately 1:20.
	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. For RC drilling field duplicates were taken on a routine basis at an approximate 1:20 ratio using the same sampling techniques (i.e. cone splitter) and inserted into the sample run. No diamond core field duplicates were taken.
	Whether sample sizes are appropriate to the grain size of the material being sampled. The sample sizes are considered more than adequate to ensure that there are no particle size effects relating to the grain size of the mineralisation which lies in the percentage range.
Quality of assay data and laboratory tests	The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. The analytical technique involved Fire Assay 50g.
	For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. No geophysical or portable analysis tools were used to determine assay values stored in the database.

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Criteria	JORC Code explanation Commentary
	Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established. Internal laboratory control procedures involve duplicate assaying of randomly selected assay pulps as well as internal laboratory standards. All of these data are reported to the Company and analysed for consistency and any discrepancies.
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel. Senior personnel from the Company have visually inspected mineralisation within significant intersections.
	The use of twinned holes. Two twin RC holes have been completed at the Grace Prospect and confirm reliability of previous results.
	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Primary data was collected using a standard set of Excel templates on Toughbook laptop computers in the field. These data are transferred to Geobase Pty Ltd for data verification and loading into the database.
	Discuss any adjustment to assay data. No adjustments or calibrations have been made to any assay data.
Location of data points	Accuracy and quality of surveys used to locate drillholes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. Drill hole locations have been established using a field GPS unit.
	Specification of the grid system used. The grid system is MGA_GDA94, zone 50 for easting, northing and RL.
	Quality and adequacy of topographic control. The topography of the mined open pits is well defined by historic monthly survey pickups
Data spacing and distribution	Data spacing for reporting of Exploration Results. RC and diamond drill hole spacing varies 40-200 metres between drill sections, with some areas at 40 metre drill section spacing. Down dip step-out distance varies 20-100 metres.
	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. Data spacing and distribution are sufficient to establish the degree of geological and grade continuity appropriate for JORC(2012) classifications applied.
	Whether sample compositing has been applied. No sample compositing has occurred for diamond core drilling. Sample intervals are based on geological boundaries with even one metre samples between. For RC samples, 1m samples through target zones were sent to the laboratory for analysis. 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.
Orientation of data in relation to geological structure	Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. The mineralisation strikes generally NNW-SSE and dips to the west at approximately -50 degrees. The drill orientation was 065 and 245 degrees and -60 to -90 dip. Drilling is believed to be generally perpendicular to strike.
	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. No sampling bias is believed to have been introduced.

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Criteria	JORC Code explanation	Commentary
		Sample security is managed by the Company. After
		preparation in the field samples are packed into polyweave
		bags and despatched to the laboratory. For a large number
		of samples these bags were transported by the Company
Sample security	The measures taken to ensure sample security.	directly to the assay laboratory. In some cases the sample
		were delivered by a transport contractor the assay
		laboratory. The assay laboratory audits the samples on
		arrival and reports any discrepancies back to the Company.
		No such discrepancies occurred.
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	No audits have yet been completed.

JORC Table 1 - Section 2 Reporting of Exploration Results

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. Rox Resources Ltd is in a Joint Venture Agreement with Venus Metals Corporation Ltd under which it has a 70% interest in the Youanmi Gold Mine Joint Venture (OYG Joint Venture). Tenements in the JV consist of the following mining leases: M 57s /10, 51,76,97,109, 135, 160A, 164, 165, 166 and 167.
	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 tenement is in good standing and no known impediments exist.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties. Significant previous exploration has been carried out throughout the project by various companies, including AC/RAB, RC drilling and diamond drilling 1971-1973 WMC: RAB, RC and surface diamond drilling 1976 Newmont: 10 surface diamond drillholes (predominantly targeting base metals). 1980-1986 BHP: RAB, RC and surface diamond drilling (predominantly targeting base metals). 1986-1993 Eastmet: RAB, RC and surface diamond drilling. 1993-1997 Goldmines of Australia: RAB, RC and surface diamond drilling. Underground mining and associated underground diamond drilling. 2000-2003 Aquila Resources Ltd: Shallow RAB and RC drilling 2004-2005 Goldcrest Resources Ltd: Shallow RAB and RC drilling; data validation. 2007- 2013 Apex Minerals NL: 9 diamond holes targeting extensions to the Youanmi deeps resource.

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Criteria	JORC Code explanation Commentary
Geology	Deposit type, geological setting and style of mineralisation. The Youanmi Project straddles a 40km strike length of the Youanmi Greenstone Belt, lying within the Southern Cross Province of the Archaean Yilgarn Craton in Western Australia. The greenstone belt is approximately 80km long and 25km wide, and incorporates an arcuate, north-trending major crustal structure termed the Youanmi Fault Zone. This structure separates two discordant greenstone terrains, with the stratigraphy to the west characterised by a series of weakly deformed, layered mafic complexes (Windimurra, Black Range, Youanmi and Barrambie) enveloped by strongly deformed, north-northeast trending greenstones. Gold mineralisation is developed semi-continuously in shear zones over a strike length of 2,300m along the western margin of the Youanmi granite. The Youanmi gold lodes are invariably associated with a high pyrite and arsenopyrite content and the primary ore is partially to totally refractory. There are a series of major fault systems cutting through the Youanmi trend mineralisation that have generated some significant off-sets. The Youanmi Deeps project area is subdivided into three main areas or fault blocks by cross-cutting steep south-east trending faults; and these are named Pollard, Main, and Hill End from south to north respectively. Granite hosted gold mineralisation occurs at several sites, most notably Grace and the Plant Zone Prospects. Gold mineralization occurs as free particles within quartz-sericite altered granite shear zones. The Commonwealth-Connemarra mineralised trend is centred 4km northwest of the Youanmi plant. The geology comprises a sequence of folded mafic and felsic volcanic rocks intercalated with BIF and intruded by granite along the eastern margin. Gold mineralisation is developed over a 600m strike length, associated with a north trending and steeply west dipping shear zone that traverses the northwest trending succession.
Drill hole Information	A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: • easting and northing of the drill hole collar • 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. Refer to drill results Table/s and the Notes attached thereto.
Data aggregation methods	In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated. All reported assay intervals have been length weighted. No top cuts have been applied. A lower cut-off of 0.5g/t Au was applied for RC and diamond core.
	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. Mineralisation over 0.5g/t Au has been included in aggregation of intervals for RC and diamond core.

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Criteria	JORC Code explanation	Commentary
	The assumptions used for any reporting of metal equivalent values should be clearly stated.	No metal equivalent values have been used or reported.
Relationship	These relationships are particularly important in the
between	reporting of Exploration Results.	The mineralisation strikes generally NNW-SSE and dips to
mineralisation		the west at approximately -60 degrees. Drill orientations are
widths and	If the geometry of the mineralisation with respect to the	usually 060 degrees and -60 dip. Drilling is believed to be
intercept lengths	drill hole angle is known, its nature should be reported.	generally perpendicular to strike. Given the angle of the drill
		holes and the interpreted dip of the host rocks and
	If it is not known and only the down hole lengths are	mineralisation (see Figures in the text), reported intercepts
	reported, there should be a clear statement to this effect	approximate true width.
	(e.g. ‘down hole length, true width not known’).
Diagrams	Appropriate maps and sections (with scales) and
	tabulations of intercepts should be included for any
	significant discovery being reported These should	Refer to Figures and Table in the text.
	include, but not be limited to a plan view of drill hole
	collar locations and appropriate sectional views.
Balanced	Where comprehensive reporting of all Exploration
reporting	Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration	Representative reporting of both low and high grades and widths is practiced.
	Results.
Other	Other exploration data, if meaningful and material,
substantive	should be reported including (but not limited to):
exploration data	geological observations; geophysical survey results;
	geochemical survey results; bulk samples – size and	All meaningful and material information has been included in
	method of treatment; metallurgical test results; bulk	the body of the announcement.
	density, groundwater, geotechnical and rock
	characteristics; potential deleterious or contaminating
	substances.
Further work	The nature and scale of planned further work (e.g. tests
	for lateral extensions or depth extensions or large-scale
	step-out drilling).	Further work (RC and diamond drilling) is justified to locate
	Diagrams clearly highlighting the areas of possible	extensions to mineralisation both at depth and along strike.
	extensions, including the main geological interpretations
	and future drilling areas, provided this information is not
	commercially sensitive

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