RUMBLE RESOURCES LIMITED — Capital/Financing Update 2021

Oct 17, 2021

18[th] October 2021

Earaheedy Zn-Pb-Mn-Ag Project

Chinook discovery continues to grow with further high-grade Zn-Pb intercepts and a 44% increase of the mineralised footprint

Latest Drilling Results - Chinook Prospect (E69/3464)

Rumble Resources Ltd

Level 1, 16 Ord Street, West Perth, WA 6005

• Zinc-Lead (Zn-Pb) mineralisation envelope increased by 44%, to 4.1km strike and 1.9km down dip length – remains open in all directions

• Significant Zinc-Lead mineralisation is modelled to extend west across the boundary of tenement E69/3464 (RTR 75% JV) into Rumble’s 100% owned ELA69/3787, which has over 12kms of untested strike along the prospective unconformity to the Sweetwater Zn-Pb Prospect, providing potential to significantly increase the known footprint at Chinook

• RC drill results (>2% Zn + Pb Cut Off) include:

• 15m @ 4.02% Zn + Pb, 4.86 g/t Ag from 116m (EHRC089)⃰ within 27m @ 2.54% Zn + Pb from 115m

• 11m @ 3.92% Zn + Pb, 4.23 g/t Ag from 142m (EHRC090)⃰ within 22m @ 2.35% Zn + Pb from 139m

• 16m @ 3.67% Zn + Pb, 3.9 g/t Ag from 79m (EHRC100)¹ within 25m @ 2.7% Zn + Pb from 76m

• 14m @ 4.17% Zn + Pb, 14.9 g/t Ag from 71m (EHRC103)¹ within 29m @ 3.09% Zn + Pb from 67m

• 8m @ 5.20% Zn + Pb, 9.57 g/t Ag from 133m (EHRC152)⃰ within 37m @ 2.04% Zn + Pb from 112m

• 5m @ 4.25% Zn + Pb, 3.66 g/t Ag from 90m (EHRC133)⃰ within 26m @ 2.9% Zn + Pb from 90m

• 20m @ 3.47% Zn + Pb, 4.16 g/t Ag from 119m (EHRC216)⃰ within 26m @ 2.91% Zn + Pb from 116m

T +61 8 6555 3980 F +61 8 6555 3981

rumbleresources.com.au

ASX RTR

Executives & Management

Mr Shane Sikora Managing Director

Mr Brett Keillor Technical Director

Mr Matthew Banks Non-executive Director

Mr Michael Smith Non-executive Director

Mr Peter Venn Non-executive Director

Mr Steven Wood Company Secretary

• 17m @ 3.08% Zn + Pb, 7.74 g/t Ag from 72m (EHRC251)⃰ within 47m @ 1.88% Zn + Pb, 6.14 g/t Ag from 48m

Sonic drill results include:

• 19m @ 6.10% Zn + Pb, 8.52 g/t Ag from 55m (EHS002)⃰ o 19m recovered within 26.5m zone of mineralisation

• 22.2m @ 4.32% Zn + Pb, 4 g/t Ag from 67m (EHS001)⃰ o 22.2m recovered within 28m zone of mineralisation

• Broad widths of Silver (Ag) mineralisation intercepted southeast of the main Chinook Zn-Pb Prospect in drill hole EHRC251.

• 21m @ 16 g/t Ag from 88m (EHRC251)⃰

within 70m @ 6.54 g/t Ag from 55m

• ⃰ True width of mineralisation - ¹Down hole length of mineralisation

==> picture [82 x 72] intentionally omitted <==

Rumble Resources Limited (ASX: RTR) (“Rumble” or “the Company”) is pleased to report significant new assay results from the ongoing 40,000m drilling program at the rapidly advancing Chinook Zinc-Lead (Zn-Pb) discovery at the Earaheedy Project, located approximately 110km north of Wiluna, Western Australia. Results for fifty-one (51) RC drill holes and two (2) Sonic drill holes reported in this announcement form part of the ongoing drill scoping of the Chinook Zn – Pb Prospect. The scoping is designed to define the controls and limits of the mineralisation.

Rumble Resources Managing Director, Mr Shane Sikora said “ The broad spaced scoping drilling continues to deliver at the Chinook Zn-Pb Prospect with an impressive 44% mineralisation envelope increase (from previous ASX announcement on 8 July 2021) to 4.1km x 1.9km. Mineralisation remains open in all directions”.

“Another exciting development at the Chinook Prospect is that significant Zn-Pb mineralisation has been intercepted in numerous drill holes along the north-west corner, and within 50m of the main tenement (E69/3464) boundary which abuts Rumble’s (100%) pending application ELA69/3787. Based on the location and inferred strike of the mineralisation, Rumble has modeled that the Chinook mineralisation will extend west into ELA69/3787. ELA69/3787 already hosts the Sweetwater Zn-Pb Prospect which has historical Zn-Pb drill intercepts located over 12kms from Chinook, along the prospective unconformity, with no historical drilling ever completed between the two prospects (see image 5).

“In addition to drilling activities at Chinook, the current drilling is also focused on defining the limits of Zn-Pb mineralization at the Navajoh and Magazine Prospects whilst looking for new discoveries along the 17km of mineralised strike so far delineated (see Image 5). Rumble is particularly excited about new prospects currently being drilled at the Earaheedy Project and looks forward to reporting on these developments as soon as results come to hand.

“Once the team completes the broad spaced drill scoping, drilling will focus on targeting the multiple feeder structures identified by the geophysics, which are interpreted to contain higher-grade Zn-Pb mineralisation.

The Sonic Hole EHS002, a twin of EHRC044 reported a 26% increase in Zinc-Lead grade from previous RC assay ( 19m @ 6.1% Zn + Pb, 8.52 g/t Ag from 55m – True Width as vertical hole) . This Sonic drilling is supporting the RC drilling results to date along with providing sample volume for initial metallurgical testing.

“Based on the drilling results to date, field observations and our developing understanding of the geology of this potential Tier 1 sediment hosted Zinc-Lead system, it is becoming very clear there is potential to delineate multiple shallow, flat lying open pittable Zn-Pb deposits throughout the 45km’s of strike at Earaheedy.

“To date we have only received and announced assays from approximately 9,000m of the 35,000m (~25%) drilling completed, largely due to the reported industry wide laboratory backlog. We believe the current extensive drill program will deliver further exciting developments and we look forward to reporting these results as they come to hand.”

Drilling Update – E69/3464

The current exploration drilling program at Earaheedy has been expanded to 40,000m (refer to ASX announcement from 23[rd] August 2021) and is designed to define the limits of the flat to gently northeast dipping Zn-Pb-Ag-(Mn) mineralisation associated with the unconformity that forms the hiatus between the overlying Palaeoproterozoic Frere Iron formation and the underlying Palaeoproterozoic Yelma Formation (lower section of the Tooloo Group) at the Chinook Prospect.

Drill scoping is also occurring at the Magazine and Navajoh Zn-Pb Prospects that lie some 7-12km southeast of the Chinook prospect, and targeting new discoveries along 17km of open mineralised strike.

2

==> picture [82 x 72] intentionally omitted <==

Results of RC Drilling from the Chinook Prospect (refer to Table 4 in the Appendix)

Assay results have been received and compiled for fifty-one RC drill holes for 7826m at the Chinook Prospect. The bulk of the drilling has focused on defining the limits to the mineralisation toward the northwest on 500m section spacings. Image 1 presents the latest RC drill hole intersections and assays. See ASX announcements set out below for previous Rumble RC drill results.

Some of the more significant RC drill intersections are presented below, with a 0.5% Zn + Pb Cut Off, plus>2% Zn + Pb Cut Off (bold). These include:

• EHRC076⃰ – 40m @ 1.17% Zn + Pb, 1.93 g/t Ag from 165m

• including 4m @ 3.43% Zn + Pb , 5.9 g/t Ag from 168m

• • EHRC077⃰ – 13m @ 1.7% Zn + Pb, 2.2 g/t Ag from 161m ▪ including 5m @ 2.57% Zn + Pb from 166m

• • EHRC089⃰ – 27m @ 2.54% Zn + Pb, 3.2 g/t Ag from 115m ▪ including 15m @ 4.02% Zn + Pb, 4.86 g/t Ag from 116m

• • EHRC090⃰ – 22m @ 2.35% Zn + Pb, 2.35 g/t Ag from 139m ▪ including 11m @ 3.92% Zn + Pb, 4.23 g/t Ag from 142m

• • EHRC093⃰ – 15m @ 2.57% Zn + Pb, 3.04 g/t Ag from 100m ▪ including 11m @ 3.02% Zn + Pb, 3.55 g/t Ag from 102m

• • EHRC094⃰ – 26m @ 1.66% Zn + Pb, 2.24 g/t Ag from 107m

▪ including 10m @ 2.55% Zn + Pb, 2.77 g/t Ag from 118m • EHRC099⃰ – 25m @ 1.67% Zn + Pb, 2.83 g/t Ag from 123m ▪ including 5m @ 3.2% Zn + Pb, 5.48 g/t Ag from 126m ▪ and 5m @ 3% Zn + Pb, 3.32 g/t Ag from 136m

• EHRC100¹ – 25m @ 2.7% Zn + Pb, 4 g/t Ag from 76m

▪ including 16m @ 3.67% Zn + Pb, 3.9 g/t Ag from 79m • EHRC102¹ – 30m @ 1.19% Zn + Pb, 2.5 g/t Ag from 52m ▪ including 5m @ 3.95% Zn + Pb, 11.2 g/t Ag from 70m • EHRC103¹ – 29m @ 3.09% Zn + Pb, 7.67 g/t Ag from 67m ▪ including 25m @ 3.51% Zn + Pb, 8.82 g/t Ag from 71m • EHRC126⃰ – 41m @ 1.1% Zn + Pb, 1.93 g/t Ag from 140m ▪ including 7m @ 2.98% Zn + Pb, 4.73 g/t Ag from 145m • EHRC139⃰ – 11m @ 2.26% Zn + Pb, 2.24 g/t Ag from 115m ▪ including 5m @ 3.56% Zn + Pb, 3.58 g/t Ag from 115m • EHRC140⃰ – 13m @ 1.77% Zn + Pb, 1.62 g/t Ag from 133m ▪ including 4m @ 3.35% Zn + Pb, 2.63 g/t Ag from 133m • EHRC152⃰ – 37m @ 2.04% Zn + Pb, 3.53 g/t Ag from 112m ▪ including 8m @ 5.2% Zn + Pb, 9.57 g/t Ag from 133m • EHRC132⃰ – 12m @ 2.24% Zn + Pb, 2.1 g/t Ag from 91m ▪ including 8m @ 2.7% Zn + Pb, 1.8 g/t Ag from 92m • EHRC133⃰ – 26m @ 2.9% Zn + Pb, 2.1 g/t Ag from 90m ▪ including 5m @ 4.25% Zn +Pb, 3.66 g/t Ag from 90m ▪ and 8m @ 3.04% Zn + Pb, 2.1 g/t Ag from 106m • EHRC160⃰ – 32m @ 1.81% Zn + Pb, 0.88 g/t Ag from 64m ▪ including 12m @ 2.67% Zn + Pb, 0.58 g/t Ag from 82m • EHRC216⃰ – 26m @ 2.91% Zn + Pb, 3.65 g/t Ag from 116m ▪ including 20m @ 3.47% Zn + Pb, 4.16 g/t Ag from 119m • EHRC251⃰ – 47m @ 1.88% Zn + Pb, 6.14 g/t Ag from 48m ▪ including 17m @ 3.08% Zn + Pb, 7.74 g/t Ag from 72m ▪ also 70m @ 6.54 g/t Ag from 55m

• including 21m @ 16 g/t Ag from 88m

⃰ true width of intersection - ¹ down hole length intersection

The latest RC drilling (see image 1) has increased the Chinook Zn-Pb-Ag footprint by 44%, with a 4.1km strike length X 1.9km down dip length. Mineralisation remains open in all directions

3

==> picture [82 x 72] intentionally omitted <==

Excitingly, the high-grade Zn-Pb-Ag mineralisation is modelled to extend northwest and up-dip into the Rumble’s pending 100% tenement ELA69/3747 , which is due to be granted in the near term. All four RC drill holes currently assayed by Rumble that lie within 50m of the ELA69/3747 boundary returned significant Zn-Pb intersections:

• EHRC093 – 11m @ 3.02% Zn + Pb from 102m

• EHRC089 – 15m @ 4.02% Zn + Pb from 116m

• EHRC216 – 20m @ 3.47%Zn + Pb from 116m

• EHRC087 – 8m @ 3.43% Zn +Pb from 129m (previously reported ASX 8/7/2021)

Additionally, a wide zone of silver mineralisation intersected in EHRC251 (see image 1) lies essentially below the unconformity hosted Zn-Pb-Ag mineralisation ( 17m @ 3.08% Zn + Pb from 72m ) and is hosted in dolomite/carbonate. This silver zone of 70m @ 6.54 g/t Ag from 55m , includes 21m @ 16 g/t Ag from 88m. Elevated copper and arsenic is also associated with the silver. Often large base metal systems have potential economic copper mineralization close to the main mineralizing structures .

==> picture [501 x 295] intentionally omitted <==

Image 1. Chinook Prospect – Recent RC and Sonic Drilling Results

Sonic Drilling

Two vertical Sonic drill holes 500m apart have been completed to provide core samples for geological interpretation and metallurgical test work. Sonic drilling uses high frequency resonant energy which is applied to an open face bit through the rotating hollow drill string via a modified drill head. The result is the target lithology/mineralisation is captured inside the hollow drill string (100mm diameter in this case) as often broken (due to the vibration) material, however, at better recovery than an equivalent diamond core drilling method. The Sonic drilling is supporting the RC drilling results, core for geological interpretation, and samples for initial metallurgical testing.

EHS001 (Table 1)

The EHS001 Sonic drill hole was designed to twin the strong Zn-Pb-Ag sulphide mineralisation material delineated in EHRC050 and returned:

• 24m @ 5.57% Zn + Pb, 5.05 g/t Ag from 66m (>2% Zn + Pb Cut Off)

EHS001 is located within 5m of EHRC050 and 28m of mineralisation (>2% Zn + Pb Cut Off) was encountered of which 22.2m was recovered for assay. The assay results are reported in Table 1. The cumulative weighted assay intersection for EHS001 is:

• 22.2m @ 4.32% Zn + Pb, 4 g/t Ag from 67m (>2% Zn + Pb Cut Off)

• 22.2m recovered within mineralised zone of 28m

4

==> picture [82 x 72] intentionally omitted <==

Note, only the mineralised zone was drilled and assayed for EHS001. Also note the wider mineralised intersection delineated by drill hole EHS001 (28m) compared to the original RC drill hole intersection EHRC050 (24m) for the equivalent >2% Zn + Pb cut off.

==> picture [280 x 396] intentionally omitted <==

----- Start of picture text -----

From To Zn% Pb% Ag g/t S% Zn+Pb%
67 68 1.01 2.88 4.6 2.63 3.89
68 69 0.51 3.19 6.1 1.83 3.70
69 70 2.81 4.62 11.8 5.31 7.43
70 71 0.95 5.59 8 4.88 6.54
71 71.5 1.56 0.22 1 0.35 1.77
No Recovery 1.5m
73 73.5 1.71 0.34 1.7 1.06 2.04
No Recovery 0.5m
74 74.5 1.49 0.35 1.3 0.82 1.84
No Recovery 1m
75.5 76 1.86 0.14 0.5 0.13 2.00
76 77 2.16 1.21 0.6 1.06 3.37
77 78 2.03 2.26 0.9 2.5 4.29
78 78.5 3.06 1.29 1.2 4.03 4.35
No recovery 0.5m
79 79.5 3.09 0.47 1.6 3.65 3.56
No recovery 0.4m
79.8 81 6.01 0.41 4 4.42 6.41
81 82 5.50 0.93 10.1 17.23 6.43
82 83 4.58 0.65 3.4 2.75 5.23
83 84 4.46 0.66 5.25 7.14 5.12
84 85 8.38 0.71 6 8.16 9.09
85 86 5.52 1.65 5.8 5.45 7.17
86 87 2.10 0.44 4.3 6 2.44
No Recovery 1m
88 89 1.36 0.14 1.25 1.12 1.50
89 90 1.35 0.08 1.1 0.87 1.43
90 91 1.65 0.37 1.4 1.4 2.02
91 92 3.71 0.62 2.9 3.11 4.32
92 93 0.14 0.03 0.5 0.21 0.17
93 94 7.32 0.89 5.3 6.32 8.21
94 95 3.95 0.63 3.3 4.22 4.57
----- End of picture text -----

Table 1. EHS001 Assay Results

EHS002 (see Image 2 for Section and Table 2 for assays)

Sonic drill hole EHS002 was designed to twin the strongly mineralised sulphide material from EHRC044 which previously returned:

• 21m @ 4.31% Zn + Pb, 5 g/t Ag from 61m (>2% Zn + Pb Cut Off)

EHS002 is located within 5m of EHRC044 and encountered 26.5m of mineralisation (>2% Zn + Pb Cut Off) of which 19m was recovered for assay. The assay results are presented in Table 2. The cumulative weighted assay intersection for EHS002 is:

• 19m @ 6.1% Zn + Pb, 8.52 g/t Ag from 55m (>2% Zn + Pb Cut Off) o 19m recovered within mineralised zone of 26.5m

As the Sonic and diamond core drilling teams gain more experience with the drilling conditions at Earaheedy, Rumble expects the recoveries to increase significantly.

The assay results for EHS002 are presented in Table 2 and in cross section within Image 2. Section EHS002 (see image 1 for location) highlights the geology and zinc, lead, silver and sulphur assays below the base of complete oxidation.

5

==> picture [285 x 338] intentionally omitted <==

----- Start of picture text -----

From To Zn% Pb% Ag g/t S% Zn+Pb%
55 56 1.64 1.54 17.45 0.1 3.18
56 57 1.39 1.49 5.2 3.78 2.88
57 58 1.08 1.09 3.85 2.63 2.17
58 59 0.73 0.75 2.75 1.55 1.48
59 60 1.44 2.25 5.4 2.36 3.79
60 61 5.31 2.65 8.5 9.67 7.96
61 62 4.36 2.67 8.1 3.31 7.03
62 63 7.91 2.57 8.6 6.2 10.48
63 64 8.77 2.29 10 8.38 11.06
64 65 No Recovery 1m
65 66 7.73 1.47 8.4 6.86 9.20
66 67 6.86 0.69 4.6 2.29 7.55
67 68 No Recovery 1m
68 69 6.20 0.4 6.5 1.12 6.60
69 70 5.22 0.48 12.1 4.4 5.70
70 71 6.46 1 54.4 3.56 7.46
71 73 No Recovery 2m
73 74 6.09 0.39 6.9 4.3 6.48
74 77 No Recovery 3m
77 78 1.46 0.56 25.3 2.36 2.02
78 79 4.78 0.83 7.3 1.58 5.61
79 80 5.27 0.2 1.5 0.36 5.47
80 80.5 1.87 0.18 3.5 0.37 2.05
80.5 81 No Recovery 0.5m
81 82 4.18 0.14 0.9 0.17 4.32
82 83 4.97 0.24 0.9 0.2 5.21
83 84 4.96 0.25 0.7 0.32 5.21
84 85 3.07 0.12 0.5 0.19 3.19
85 86 3.23 0.17 1.1 0.53 3.39
----- End of picture text -----

==> picture [82 x 72] intentionally omitted <==

Table 2. EHS002 Assay Results

==> picture [533 x 359] intentionally omitted <==

Image 2 – EHS002 Section – Assay Results and Geology

6

Multiple Mineralisation Styles and Potential in the District (image 3)

==> picture [82 x 72] intentionally omitted <==

As the RC drill scoping has continued, the footprint of the very large Earaheedy Zn-Pb-Ag-Mn system has increased. Additionally, a number of styles of primary mineralisation have now been encountered over a broadly tested 17 km of strike between Chinook, Magazine and Navajoh.

Unconformity Hosted Zn-Pb-Ag-Mn Sulphide Types

• Carbonate Hosted Style – Sphalerite-Galena-Pyrite-(Manganese) Dominant

• Silica Replacement of Carbonate Hosted Style

• Clastic Hosted Style – Sphalerite-Galena-Pyrite

• Higher grade associated with coarser grain siliciclastic sediment – Matrix replacement

Shale Hosted Sulphide Type

• Footwall Shale Hosted Zinc-Galena-Silver-Pyrite o Footwall shale locally known as Purple Shale (oxidized)

• Associated with footwall structures (feeders)

• Increase in anomalous copper and elevated arsenic.

MVT Sulphide Type

Historic exploration (RGC) focused on the main carbonate units that lie deeper under the Frere Iron Formation. MVT (Mississippi Valley Type) Zn dominant mineralisation included

• MVT high angle Zinc-Lead-Pyrite sulphide breccias

• Stratabound (conformable) Zn

• Zn replacement – disseminated and dissolution controlled – Silica Overprint.

Other Types

• Fault Related Epigenetic Cu-Ag

o High grade Ag with strong Cu zonation

==> picture [457 x 353] intentionally omitted <==

Image 3 - Earaheedy Project – Prospect Location and Simplified Geology Plan

7

==> picture [82 x 72] intentionally omitted <==

Exploration to the south of the Project area by Strickland Metals has also reported significant Zn-Pb-Ag-Mn mineralisation with assays including 23m @ 5.5% Zn + Pb in the Iroquois Carbonate Member at the Iroquois Zn-PbMn Prospect – refer to image 3 for location ( refer ASX announcement by Strickland Metals – ASX: STK – 14/10/2021). The drilling has demonstrated the lower Iroquois Carbonate Member is very prospective for MVT (Mississippi Valley Type) high-grade Zn-Pb-Ag lodes in association with basement/footwall feeder faults.

Within the Earaheedy tenement E69/3464, the top of the Iroquois Carbonate Formation has been intersected below the footwall shale in recent drilling (assays pending) by Rumble. At this stage the drilling by Rumble has not targeted MVT mineralization or the Iroquois Carbonate Formation. Based on the depth to the top of the Iroquois Carbonate Formation below the recent Rumble drilling at Chinook, Magazine and Navajoh on tenement E69/3464, the Iroquois Carbonate Formation is modelled to reach surface 2-5km to the south and southwest in Rumble’s application ELA69/3787 (see images 3 and 5).

Ongoing Exploration Steps

• Nearly 35,000m of RC drilling has been completed at Earaheedy with only 9,000m of RC assay results (~25%) reported due to the high levels of exploration in Western Australia and industry wide laboratory turnaround issues (refer to RTR ASX Release 23/8/2021 - Exploration Update)

.

• RC drill scoping of Chinook, Magazine and Navajoh

• 40,000m RC program ongoing – Likely to expand due to increase in mineralised footprint

• Diamond core drilling

• Clastic hosted Zn-Pb-Ag and footwall shale hosted sulphide mineralisation to be targeted

• Sonic drilling

• Reasonable recovery at EHS001 and EHS002 compared to diamond core drilling has given Rumble confidence to restart the Sonic drill testing.

• Sonic drilling of different mineralisation styles, including oxide.

• Metallurgy

• Diamond and Sonic drilling to be used for initial metallurgical sighter programs

• Geophysics

• Airborne Magnetics planned over Applications

• Analysis of Gravity and passive Seismic ongoing

Chinook Prospect – >2% Zn + Pb Drill Hole Status – Ongoing

All >2% Zn + Pb drill hole intersections and assays including Rumble and historic drilling are presented in image 3. The mineralised drill holes have Zn + Pb assays with a cut >0.5% Zn + Pb.

8

==> picture [82 x 72] intentionally omitted <==

==> picture [466 x 274] intentionally omitted <==

Image 4 – Chinook Prospect – Recent Drill-Hole Intersections and Assays > 2% Zn + Pb Cut Off

About the Earaheedy Project

The Earaheedy Project is located approximately 110km northeast of Wiluna, Western Australia. Rumble owns 75% of E69/3464 and Zenith Minerals Ltd (ASX: ZNC) owns 25%. Rumble has applied (100%) for two contiguous exploration licenses ELA69/3787 and ELA69/3862, south and west of E69/3464. The entire project area covers the inferred unconformity contact between the overlying Frere Iron Formation and underlying Yelma Formation of the Palaeoproterozoic Earaheedy Basin.On April 2021 Rumble announced a major Zinc-Lead Discovery with ‘Tier 1’ deposit potential at the Earaheedy Project (see ASX Announcement 19 April 2021) and followed this up by announcing a Large Sedex Style System Emerging at the Earaheedy Project (see ASX announcement 25 May 2021) on E69/3464. There are three main prospects within E69/3464, Chinook and Magazine/Navajoh which lie 12km apart. Within the project area, Rumble controls 45km of prospective mineralised strike which has the potential for multiple large tonnage Zn – Pb deposits - See image 3.

==> picture [435 x 253] intentionally omitted <==

Image 5 – Earaheedy Project - Regional Geology and Prospect Locations

9

First Stage Exploration Target

==> picture [82 x 72] intentionally omitted <==

Rumble’s Zn-Pb exploration target at the Earaheedy Project is between 100 to 120 million tonnes at a grade ranging between 3.5% Zn-Pb to 4.5% Zn-Pb. The exploration target is at a shallow depth (120m), and over 40kms of prospective strike (completely open) has been defined within the Earaheedy Project. The potential quantity and grade of the exploration target is conceptual in nature, there has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. The exploration target, being conceptual in nature, takes no account of geological complexity, possible mining method or metallurgical recovery factors. The exploration target has been estimated in order to provide an assessment of the potential for large-scale Zn-Pb deposits within the Earaheedy Project. The exploration target has been prepared and reported in accordance with the 2012 edition of the JORC Code.

==> picture [338 x 118] intentionally omitted <==

Table 1: Near surface exploration target down to 100 metre - shallow depth

The potential quantity and grade of the exploration target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. The exploration target is based on the current geological understanding of the mineralisation geometry, continuity of mineralisation and regional geology. This understanding is provided by an extensive drill hole database, regional mapping, coupled with understanding of the host stratigraphic sequence.

Included in the data on which this exploration target has been prepared is recent RC drilling of seventeen (17) holes for approximately 2,500m (RC/Diamond), thirty (30) holes for 2,690m (three RC stages), eighty-eight (88) RC holes for 14,988m recently completed (ongoing) and diamond drilling of four (4) holes for 1,199.8m completed by Rumble along with sixty-four (64) historic RC drill holes completed within the project area (E69/3464) by previous explorers (refer historical exploration results in previous ASX announcements dated 5 February 2019 and 12 October 2017, 23rd January 2020 which continue to apply and have not materially changed). Some of the considerations in respect of the estimation of the exploration target include:

• Drilling results have demonstrated strong continuity of shallow, flat lying mineralisation;

• Over 45km’s of prospective strike and open (refer image 6);

• Minimum 600m of width (based on shallow 7.5° and shallow depth to 120m, based on drilling results;

• True width (thickness) of mineralisation up to 34 metres received in drilling results; and

• Specific gravity (SG) of 2.5 (world average SG of sandstone – not accounting for metal).

The Company intends to test the exploration target with drilling and this further drilling is expected to extend over approximately 12 months. Grade ranges have been either estimated or assigned from lower and upper grades of mineralisation received in drilling results. A classification is not applicable for an exploration target.

Authorisation

This announcement is authorised for release by Shane Sikora, Managing Director of the Company.

-Ends-

For further information visit rumbleresources.com.au or contact info@rumbleresources.com.au.

10

Previous Drill Results

==> picture [82 x 72] intentionally omitted <==

Drill hole results are ongoing and previous assays have been reported in earlier ASX announcements.

• ASX Release 19/4/2021 – Major Zinc-Lead Discovery at Earaheedy Project, Western Australia

• ASX Release 2/6/2021 – Large Scale Zinc-Lead-Silver SEDEX Style System Emerging at Earaheedy

• ASX Release 8/7/2021 – Broad Spaced Scout Drilling Has Significantly Increased the Zn-Pb-Ag-Mn footprint at Earaheedy

• ASX Release 23/8/2021 – Earaheedy Zn-Pb-Ag-Mn Project – Exploration Update

About Rumble Resources Ltd

Rumble Resources Ltd is an Australian based exploration company, officially admitted to the ASX on the 1st July 2011. Rumble was established with the aim of adding significant value to its current mineral exploration assets and will continue to look at mineral acquisition opportunities both in Australia and abroad.

Competent Persons Statement

The information in this report that relates to Exploration Results and Exploration Targets is based on and fairly represents information compiled by Mr Brett Keillor, who is a Member of the Australasian Institute of Mining & Metallurgy and the Australian Institute of Geoscientists. Mr Keillor is an employee of Rumble Resources Limited. Mr Keillor has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking 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 Keillor consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Previously Reported Information

The information in this report that references previously reported exploration results is extracted from the Company’s ASX market announcements released on the date noted in the body of the text where that reference appears. The previous market announcements are available to view on the Company's website or on the ASX website (www. asx.com.au).

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements.

Disclaimer

This report contains certain forward-looking statements and forecasts, including possible or assumed reserves and resources, production levels and rates, costs, prices, future performance or potential growth of Rumble Resources Ltd, industry growth or other trend projections. Such statements are not a guarantee of future performance and involve unknown risks and uncertainties, as well as other factors which are beyond the control of Rumble Resources Ltd. Actual results and developments may differ materially from those expressed or implied by these forward looking statements depending on a variety of factors. Nothing in this report should be construed as either an offer to sell or a solicitation of an offer to buy or sell securities. This document has been prepared in accordance with the requirements of Australian securities laws, which may differ from the requirements of United States and other country securities laws. Unless otherwise indicated, all ore reserve and mineral resource estimates included or incorporated by reference in this document have been, and will be, prepared in accordance with the JORC classification system of the Australasian Institute of Mining, and Metallurgy and Australian Institute of Geoscientists.

11

Table 4

RC Drill Hole Intersections and Assays

==> picture [82 x 72] intentionally omitted <==

Hole ID	E MGA	N MGA	Depth	Dip	Azi	Depth From	Thickness(m)	Zn%	Pb%	S%	Ag g/t	Pb+Zn%
EHRC074	252716	7166398	191	-90		137	30	0.79	0.09	1.17	0.82	0.88
EHRC075	253182	7166133	197	-90		158	23	0.93	0.25	1.77	1.77	1.17
					incl	161	1	4.41	0.54	5.79	4.5	4.95
					incl	175	2	1.75	0.33	0.51	1.25	2.08
EHRC076	253295	7166311	227	-90		165	40	0.79	0.38	2.57	1.93	1.17
					incl	168	4	1.97	1.46	4.5	5.9	3.43
					and	209	13	0.47	0.29	1.34	1.08	0.76
EHRC077	253474	7166670	194	-90		161	13	1.14	0.57	2.8	2.2	1.70
					incl	166	5	1.84	0.73	3.63	2.84	2.57
					and	178	14	0.81	0.26	2.32	1.42	1.06
EHRC078	254339	7165055	101	-90		25	38	0.7	0.16	0.38	1.46	0.86
					incl	47	2	1.63	0.5	0.17	0.5	2.12
EHRC079	253553	7164791	83	-90		28	24	0.3	0.23	0.14	0.5	0.53
EHRC080	253601	7164878	83	-90		37	14	0.33	0.25	0.14	1.4	0.58
EHRC082	253054	7164968	64	-90		16	28	0.37	0.41	0.16	2.1	0.78
EHRC085	252690	7165345	64	-90		25	20	0.38	0.4	0.1	0.5	0.78
EHRC088	252175	7166478	202	-90		151	2	0.95	0.08	0.82	0.65	1.03
EHRC089	251480	7166299	145	-90		115	27	2.04	0.5	5.66	3.2	2.54
					incl	116	15	3.19	0.84	8.78	4.86	4.02
EHRC090	251594	7166469	166	-90		139	22	1.91	0.45	4.37	2.35	2.35
					incl	142	11	3.21	0.71	6.84	4.23	3.92
EHRC091	251705	7166646	196	-90		132	58	0.62	0.18	1.6	1.32	0.79
					incl	145	2	1.93	0.51	2.76	2.55	2.44
EHRC092	251802	7166823	184	-90		142	7	0.43	0.29	1.52	2.97	0.72
					and	167	2	0.87	0.1	1.21	0.8	0.98
EHRC093	250886	7166289	154	-90		100	15	1.83	0.74	3.13	3.04	2.57
					incl	102	11	2.19	0.83	3.99	3.55	3.02
EHRC094	250994	7166460	154	-90		107	26	1.21	0.45	2.92	2.24	1.66
					incl	118	10	2.1	0.45	5.05	2.77	2.55
EHRC097	251101	7166636	165	-90		124	37	1.18	0.45	7.4	4.6	1.63
					incl	124	19	1.69	0.65	4.46	3.26	2.34
EHRC098	251197	7166800	175	-90		136	19	0.62	0.25	3.25	1.82	0.87
					and	162	8	0.47	0.12	2.76	1.25	0.59
EHRC099	251535	7166390	185	-90		123	25	1.21	0.46	3.51	2.83	1.67
					incl	126	5	2.02	1.18	6.16	5.48	3.20
					incl	136	5	2.56	0.44	5.54	3.32	3.00
EHRC100	253030	7165522	143	-60	30	76	25	1.93	0.77	3.75	4	2.70
					incl	79	16	2.66	1.01	4.8	3.9	3.67
EHRC101	253085	7165602	173	-60	30	64	11	0.52	0.42	0.18	1.3	0.94
EHRC102	252922	7165352	107	-60	30	52	30	0.78	0.41	1	2.5	1.19
					incl	70	5	2.48	1.47	4.46	11.2	3.95
EHRC103	252976	7165437	131	-60	30	67	29	2.25	0.85	2.59	7.67	3.09
					incl	71	25	2.55	0.96	3	8.82	3.51
					incl	71	14	2.88	1.29	4.4	14.9	4.17
EHRC126	253410	7166590	192	-90		140	41	0.67	0.43	1.75	1.93	1.10
					incl	145	7	1.61	1.37	4.57	4.73	2.98
EHRC127	253549	7166772	223	-90		194	23	1.03	0.25	2.16	1.4	1.28
					incl	205	7	172	0.37	4	2.62	2.09
EHRC128	250742	7167165	228	-90		119	4	1.43	0.11	1.79	1.65	1.54
					and	143	12	0.53	0.06	0.86	0.7	0.59
EHRC131	250664	7167078	222	-90		117	4	0.83	0.06	0.9	0.5	0.89
					and	168	11	0.25	0.32	5.15	2.13	0.57
EHRC137	252769	7166481	217	-90		144	10	0.72	0.29	0.78	1	1.01
EHRC138	252667	7166319	211	-90		157	17	0.93	0.25	3.6	2.09	1.18
					incl	167	4	2.11	0.14	4	2.2	2.25
EHRC139	252133	7166393	173	-90		115	11	1.81	0.45	2.25	2.24	2.26
					incl	115	5	2.8	0.76	3.44	3.58	3.56
					and	130	14	0.6	0.14	0.95	1.08	0.74

12

Table 4. Continued RC Drill Hole Intersections and Assays

==> picture [82 x 72] intentionally omitted <==

Hole ID	E MGA	N MGA	Depth	Dip	Azi	Depth From	Thickness(m)	Zn%	Pb%	S%	Ag g/t	Pb+Zn%
EHRC140	251650	7166564	204	-90		133	13	1.53	0.24	3.02	1.62	1.77
					incl	133	4	2.93	0.42	5.02	2.63	3.35
					and	157	12	0.5	0.07	2.46	1.53	0.57
EHRC141	251760	7166731	192	-90		162	30	1.19	0.32	3.02	1.44	1.51
					incl	163	3	2.15	0.81	4.23	3.1	2.96
					incl	178	2	1.71	0.5	6.5	2.65	2.21
EHRC151	250941	7166373	138	-90		77	26	0.67	0.21	1.51	2.33	0.89
					incl	85	2	2.4	0.09	0.11	4.3	2.49
EHRC152	251048	7166542	156	-90		112	37	1.54	0.5	4.35	3.53	2.04
					incl	133	8	3.91	1.29	8.24	9.57	5.20
EHRC155	252502	7165303	96	-90		6	2	0.58	0.1	0.15	0.5	0.68
					and	18	42	1	0.75	0.14	1.54	1.75
					incl	27	21	1.01	1.1	0.14	2.43	2.11
EHRC156	252556	7165385	60	-90		24	12	0.58	0.26	0.13	0.5	0.84
EHRC157	252610	7165475	72	-90		33	5	0.61	0.3	0.13	1.96	0.91
					and	51	2	0.32	0.28	0.16	1.25	0.60
EHRC158	252666	7165556	96	-90		31	11	0.39	0.17	0.12	0.5	0.56
					and	57	8	0.94	0.17	0.14	3.79	1.11
EHRC104	252872	7165272	101	-60	30	33	26	0.39	0.3	0.13	0.5	0.69
EHRC106	252764	7165097	95	-60	30	33	18	0.68	0.77	0.13	0.87	1.45
EHRC132	252833	7165820	126	-90		91	12	1.54	0.7	1.9	2.1	2.24
					incl	92	8	1.89	0.8	2.55	1.8	2.70
EHRC133	252887	7165899	156	-90		90	26	2.34	0.56	4.3	2.1	2.90
					incl	90	5	3.32	0.97	3.9	3.66	4.25
					incl	106	8	2.5	0.54	6.94	2.1	3.04
EHRC142	252933	7165982	162	-90		126	13	1.14	0.38	1.58	2.72	1.52
EHRC143	252333	7165418	60	-90		14	19	0.34	0.47	0.13	0.5	0.81
EHRC160	252779	7165731	126	-90		64	32	1.34	0.47	1.09	0.88	1.81
					incl	82	12	2.09	0.58	1.02	0.58	2.67
EHRC216	251613	7166308	168	-90		116	26	2.29	0.62	5.66	3.65	2.91
					incl	119	20	2.74	0.73	6.35	4.16	3.47
EHRC228	252385	7165498	205	-90		20	5	0.35	0.37	0.06	0.54	0.71
EHRC107	252711	7165011	56	-60	30	20	27	0.37	0.69	0.12	0.6	1.06
					incl	35	5	0.56	1.52	0.13	0.84	2.08
EHRC108	253400	7166114	221	-60	30	167	35	0.44	0.28	0.7	1.43	0.72
EHRC109	253347	7166030	236	-60	30	177	30	0.97	0.56	1.69	2.92	1.53
					incl	178	2	2.23	1.59	4.1	6.9	3.82
					incl	192	4	1.74	0.62	2.7	3.3	2.36
EHRC251	254141	7165387	150	-90		48	47	0.93	0.95	0.29	6.14	1.88
					incl	72	17	1.3	1.79	0.38	7.74	3.08
					also	55	70				6.54
					incl	88	21				16

Table 5.

Location and Survey – Sonic Drill Holes

==> picture [431 x 45] intentionally omitted <==

----- Start of picture text -----

Hole ID E (MGA94) N (MGA94) Azimuth Dip Depth (m)
EHS001 252842 7165607 0 0 95.5
EHS002 253284 7165322 0 0 87.5
----- End of picture text -----

13

==> picture [82 x 72] intentionally omitted <==

Section 1 Sampling Techniques and Data

Criteria	JORC Code explanation		Commentary
Sampling	• Nature and quality of sampling (e.g. cut channels,	•	RC sampling completed on 1m
techniques	random chips, or specific specialised industry standard		intervals using Metzke Static cone
	measurement tools appropriate to the minerals under		splitter is dry. If wet, sample collected
	investigation, such as down hole gamma sondes, or		in large polywoven, then allowed to
	handheld XRF instruments, etc.). These examples		dry for 24 hrs. Sampling was by
	should not be taken as limiting the broad meaning of		spear along inside of bag.
	sampling.	•	Weight of sample was on average
	• Include reference to measures taken to ensure sample		>2kg.
	representivity and the appropriate calibration of any	•	Samples sent to ALS, Malaga, Perth,
	measurement tools or systems used.		WA and are being assayed using a
	• Aspects of the determination of mineralisation that are		four acid digest and read by ICP-AES
	Material to the Public Report.		analytical instrument. At total of 33
	• In cases where ‘industry standard’ work has been done		elements are reported including Ag,
	this would be relatively simple (e.g. ‘reverse circulation		Al, As, Ba, Bi, Ca, Cd, Ce, Co, Cr,
	drilling was used to obtain 1 m samples from which 3		Cu, Fe, K, La, Li, Mg, Mn, Mo, Na, Ni,
	kg was pulverised to produce a 30 g charge for fire		P, Pb, S, Sb, Sc, Sr, Th, Ti, Tl, U, V,
	assay’). In other cases more explanation may be		W, Zn.
	required, such as where there is coarse gold that has	•	Sonic Core Sampling was completed
	inherent sampling problems. Unusual commodities or		on 0.5m intervals. Weight 1.5 kg for
	mineralisation types (e.g. submarine nodules) may		¼ core over 0.5m
	warrant disclosure of detailed information.	•	Same assay methodology as the RC
			samples
Drilling	• Drill type (e.g. core, reverse circulation, open-hole	•	RC face hammer sampling (5.5in
techniques	hammer, rotary air blast, auger, Bangka, sonic, etc.)		diameter). Rig used was an Atlas
	and details (e.g. core diameter, triple or standard tube,		Copco 220 with 1250cfm air and
	depth of diamond tails, face-sampling bit or other type,		435psi compressor.
	whether core is oriented and if so, by what method, etc.)..	•	Sonic core of 100mm using Boart Longyear LS600 track mounted rig
Drill sample	• Method of recording and assessing core and chip	•	RC drilling cuttings were collected as
recovery	sample recoveries and results assessed.		1 metre intervals with corresponding
	• Measures taken to maximise sample recovery and		chip tray interval kept for reference.
	ensure representative nature of the samples.	•	In general the dry sample versus the
	• Whether a relationship exists between sample recovery		wet sample weight did not vary as the
	and grade and whether sample bias may have		wet sample was collected in a
	occurred due to preferential loss/gain of fine/coarse		polyweave bag which allowed excess
	material.		water to seep and kept the drill
			cutting fines intact in the bag.
		•	Sonic core (100mm) collected as 1m
			intervals held within a sock. Sample
			recovery and representation is 100%
			of interval. If only small section or
			partial core recovered, it was not
			assayed and deemed “no recovery”
Logging	• Whether core and chip samples have been geologically	•	Each metre was geologically logged
	and geotechnically logged to a level of detail to support		with pXRF analysis.
	appropriate Mineral Resource estimation, mining	•	All drill cuttings logged.
	studies and metallurgical studies.	•	Sonic core log geology only. Material
	• Whether logging is qualitative or quantitative in nature.		is broken and no orientation possible.
	Core (or costean, channel, etc.) photography.
	• The total length and percentage of the relevant
	_intersections logged. _
Sub-	• If core, whether cut or sawn and whether quarter, half	•	RC Drilling as below
sampling	or all core taken.		o Each metre was
techniques	• If non-core, whether riffled, tube sampled, rotary split,		analysed by a Vanta
	etc. and whether sampled wet or dry.		pXRF. The Vanta used
	• For allsample types, the nature, quality and		standards(CRM).

14

==> picture [82 x 72] intentionally omitted <==

Criteria	Criteria		JORC Code explanation		Commentary
and sample			appropriateness of the sample preparation technique.		o If the assay response
preparation			• Quality control procedures adopted for all sub-sampling		was >1000ppm Zn, a
			stages to maximise representivity of samples.		sample (>2kg) was taken
			• Measures taken to ensure that the sampling is		and delivered to ALS for
			representative of the in situ material collected,		wet analysis.
			including for instance results for field duplicate/second-		o Sampling QA/QC
			half sampling.		involved a duplicate
			• Whether sample sizes are appropriate to the grain		taken every 20m, and a
			size of the material being sampled.		standard taken every 20m. 4 standards
					(OREAS CRMs) levels
					and one blank were used
					randomly.
				•	Sonic core sampled only if
					representative (known depth and full
					diameter core recovered. Same
					QA/QC as for RC dampling
Quality		of	• The nature, quality and appropriateness of the	•	The assigned assaying methodology
assay	data		assaying and laboratory procedures used and whether		(4 acid) is total digest.
and			the technique is considered partial or total.	•	As discussed, the Vanta pXRF
laboratory			• For geophysical tools, spectrometers, handheld XRF		analyser was used to threshold the
tests			instruments, etc., the parameters used in determining		collection of samples for wet analysis.
			the analysis including instrument make and model,	•	In addition to Rumble’s QA/QC
			reading times, calibrations factors applied and their		methods (duplicates, standards and
			derivation, etc.		blanks), the laboratory has additional
			• Nature of quality control procedures adopted (e.g.		checks.
			standards, blanks, duplicates, external laboratory
			checks) and whether acceptable levels of accuracy (i.e.
			_lack of bias) and precision have been established. _
Verification			• The verification of significant intersections by either	•	Significant intersections reported by
of sampling			independent or alternative company personnel.		company personnel only.
and			• The use of twinned holes.	•	Sonic drill holes are within 5m of the
assaying			• Documentation of primary data, data entry procedures,		RC drill holes being tested. The
			data verification, data storage (physical and electronic)		purpose of the sonic drilling is to gain
			protocols.		full recovery and visual of the lithology
			• Discuss any adjustment to assay data.		along with appropriate sample for RC
					assay reconciliation and planned
					metallurgical test-work
				•	Documentation and review is ongoing.
					Prior to final vetting, entered into
					database.
Location		of	• Accuracy and quality of surveys used to locate drill	•	All drillhole collars surveyed using
data points			holes (collar and down-hole surveys), trenches, mine		handheld GPS – Datum is MGA94
			workings and other locations used in Mineral Resource		Zone 51.
			estimation.
			• Specification of the grid system used.
			• Quality and adequacy of topographic control.
Data			• Data spacing for reporting of Exploration Results.	•	No resource work completed. The
spacing	and		• Whether the data spacing and distribution is sufficient		RC drilling is reconnaissance
distribution			to establish the degree of geological and grade		(scoping) by nature with drill hole
			continuity appropriate for the Mineral Resource and		spacing on average 500m x 100m
			Ore Reserve estimation procedure(s) and		apart.
			classifications applied.	•	Single metre and composites used.
			• _Whether sample compositing has been applied. _
Orientation			• Whether the orientation of sampling achieves unbiased	•	Previous drilling (and historic) has
of data		in	sampling of possible structures and the extent to which		defined a consistent flat lying
relation		to	this is known, considering the deposit type.		sedimentary package.
			• Ifthe relationship between the drilling orientation and	•	Drillingisnormal(90°) to the

15

==> picture [82 x 72] intentionally omitted <==

Criteria			JORC Code explanation		Commentary
geological			the orientation of key mineralised structures is		mineralised intersections. True width
structure			considered to have introduced a sampling bias, this		reported. No bias.
			should be assessed and reported if material.	•	A single traverse of angled RC holes
					completed to ascertain if footwall
					structures could be determined. The
					single traverse was at -60 and
					represented approximately 85% of
					true width.
Sample		•	The measures taken to ensure sample security.	•	All sampling packaging and security
security					completed by Rumble personnel,
					from collection of sample to delivery
					at laboratory.
Audits	or	•	The results of any audits or reviews of sampling	•	No audits completed.
reviews			techniques and data.

Section 2 Reporting of Exploration Results

Criteria		JORC Code explanation	JORC Code explanation	Commentary	Commentary
Mineral		•	Type, reference name/number, location and	•	The Earaheedy Project comprises of
tenement	and		ownership including agreements or material issues		a granted exploration license –
land	tenure		with third parties such as joint ventures,		E69/3464 (75% Rumble and 25%
status			partnerships, overriding royalties, native title		Zenith Minerals) and one exploration
			interests, historical sites, wilderness or national park		license application ELA69/3787
			and environmental settings.		(100% Rumble)
		•	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.	•	E69/3464 is in a state of good standing and has no known impediments to operate in the area.
Exploration		•	Acknowledgment and appraisal of exploration by	•	Exploration solely completed by
done by	other		other parties.		Rumble Resources
parties
Geology		•	Deposit type, geological setting and style of mineralisation.	•	The Earaheedy Project Deposit type
					is unconformity related sandstone
					hosted Zn-Pb type. Also MVT
					(Mississippi Valley Type) to SEDEX
					style associated with carbonates has
					been identified. Current work by
					Rumble has identified unconformity
					related sandstone hosted Zn Pb
					type.
Drill	hole	•	A summary of all information material to the	•	Table 1 – EHS001 Assay Results
Information			understanding of the exploration results including a	•	Table 2 – EHS002 Assay Results
			tabulation of the following information for all Material	•	Table 3 – Exploration Target
			drill holes:	•	Table 4 – RC Drill Hole Intersections
			o easting and northing of the drill hole collar		and Assays
			o elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar	•	Table 5 – Location and Survey – Sonic Drill Holes
			o dip and azimuth of the hole
			o down hole length and interception depth
			o hole length.
		•	If the exclusion of this information is justified on the
			basis that the information is not Material and this
			exclusion does not detract from the understanding of
			the report, the Competent Person should clearly
			_explain why this is the case. _

16

==> picture [82 x 72] intentionally omitted <==

Criteria		JORC Code explanation	Commentary	Commentary
Data		• In reporting Exploration Results, weighting averaging	•	Historic drilling cut-off grades used
aggregation		techniques, maximum and/or minimum grade		include:
methods		truncations (e.g. cutting of high grades) and cut-off		o 0.5% Zn
		grades are usually Material and should be stated.		o 0.5% Zn + Pb
		• Where aggregate intercepts incorporate short		o >0.1% Zn
		lengths of high-grade results and longer lengths of	•	The Zn:Pb ratio is variable over the
		low-grade results, the procedure used for such		project area. On average the Zn:Pb
		aggregation should be stated and some typical		ratio for sulphide is 3. The average
		examples of such aggregations should be shown in		Zn:Pb ratio for oxide is 0.8.
		detail.	•	Historic drilling – if diamond drilling
		• The assumptions used for any reporting of metal		or RC composite – weighted
		equivalent values should be clearly stated.		average used.
Relationship		• These relationships are particularly important in the	•	Drilling is vertical. Mineralisation is
between		reporting of Exploration Results.		flat. Width of mineralisation is true
mineralisation		• If the geometry of the mineralisation with respect to		width.
widths intercept lengths	and	the drill hole angle is known, its nature should be reported. • If it is not known and only the down hole lengths are reported, there should be a clear statement to this	•	A single RC traverse was completed at -60. Intersection represents 85% of true width.
		effect (e.g. ‘down hole length, true width not known’).
Diagrams		• Appropriate maps and sections (with scales) and	•	Image 1 – Chinook Prospect –
		tabulations of intercepts should be included for any		Latest RC Drill Hole Intersections
		significant discovery being reported These should		and Assays Only Plan
		include, but not be limited to a plan view of drill hole	•	Image 2 – EHS002 Section – Assay
		collar locations and appropriate sectional views.		Results and Geology
			•	Image 3 – Earaheedy Project –
				Prospect Location and Simplified
				Geology Plan
			•	Image 4 - Chinook Prospect – Recent
				RC Drill Hole Intersections and
				Assays >2% Zn + Pb
			•	Image 5 – Earaheedy Project –
				Regional Geology and Prospect
				Location Plan
Balanced		• Where comprehensive reporting of all Exploration	•	Tables 1,2 and 4 present all assays
reporting		Results is not practicable, representative reporting of		for the current batch of RC drill holes
		both low and high grades and/or widths should be
		practiced to avoid misleading reporting of
		Exploration Results.
Other		• Other exploration data, if meaningful and material,	•	pXRF analyser is used only to
substantive		should be reported including (but not limited to):		gauge >1000ppm Zn. If sample is
exploration		geological observations; geophysical survey results;		>1000ppm Zn and/or within a
data		geochemical survey results; bulk samples – size and		mineralised section, 1m RC
		method of treatment; metallurgical test results; bulk		samples are sent for wet analysis (4
		density, groundwater, geotechnical and rock		acid digest multi-element)
		characteristics; potential deleterious or
		contaminating substances.
Further work		• The nature and scale of planned further work (e.g.	•	RC drilling program ongoing
		tests for lateral extensions or depth extensions or	•	Diamond core drilling
		large-scale step-out drilling).	•	Sonic core drilling
		• Diagrams clearly highlighting the areas of possible
		extensions, including the main geological
		interpretations and future drilling areas, provided this
		_information is not commercially sensitive. _

17