RUMBLE RESOURCES LIMITED — Capital/Financing Update 2022

Jul 17, 2022

18[th] July 2022

Heritage Clearance Confirmed at Earaheedy Sweetwater Drilling Commenced

Sweetwater Trend Exploration - E69/3787 - RTR 100%

• Rumble has received heritage clearance approval to explore the 6km west extension of the Chinook Zn-Pb deposit along the untested 15km long Sweetwater Trend

• This is an exciting new phase for the Company as the Sweetwater tenement accounts for over 70% of our total land holding in the Earaheedy Basin , and is owned 100% by Rumble

Rumble Resources Ltd

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

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

rumbleresources.com.au

• The only two historic holes drilled along the highly prospective Sweetwater Trend intercepted Zn-Pb mineralisation , 12km to the west of Chinook

• Rumble’s maiden RC drilling has commenced on the Sweetwater Trend targeting shallow higher-grade domains associated with mineralised feeder structures in the Navajoh Unconformity Unit

Iroquois Carbonate Trend - E69/3787 - RTR 100%

• Rumble has also received heritage clearance approval to start reconnaissance style aircore drilling of the newly interpreted Iroquois Carbonate Trend, which has a 35km untested strike length

• Limited historic drilling within E69/3787 intercepted shallow Zn-Pb mineralisation along strike of Strickland Metals’ 2021 Iroquois Zn-Pb Prospect discovery

2022 - 50,000m RC Drill Program - Targeting High Grade Domains

• 26,000m of drilling has been completed with 11,000 assays pending , and a further 24,000m planned for the remainder of 2022

• RC drilling has been focused on the Tonka Prospect targeting high-grade ZnPb domains at the newly identified east-west trending Colorado Zone

• The footprint of the zinc sulphide dominant Tonka-Navajoh deposit is 8km by 2km and remains open in all directions

ASX RTR

Executives & Management

Mr Shane Sikora Managing Director

Mr Matthew Banks Non-executive Director

Mr Michael Smith Non-executive Director

Mr Geoff Jones Non-executive Director

Mr Peter Venn Non-executive Director

Mr Brett Keillor Head of Technical

Mr Steven Wood Company Secretary

• Two previously reported initial holes within the Colorado Zone returned:

• EHRC515 – 73m @ 3.07% Zn + Pb from 106m ▪ Including 13m @ 5.38% Zn + Pb from 108m ▪ Including 19m @ 3.48% Zn + Pb from 132m

• EHRC518 – 7m @ 10.71% Zn + Pb from 137m ▪ Including 3m @ 19.93% Zn + Pb from 138m

Earaheedy 3D Flythrough

• Take a 3D tour of our discovery at the Earaheedy Project, Western Australia – click here: https://inventum3d.com/c/rumble/earaheedy

Rumble Resources Limited (ASX: RTR) (“Rumble” or “the Company”) is pleased to announce an update of ongoing exploration activities at the Earaheedy Project, located 140km northeast of Wiluna, Western Australia.

==> picture [82 x 71] intentionally omitted <==

Earaheedy Project - Emerging World Class Base Metal System

Since the exciting Chinook discovery in April 2021, drilling has rapidly uncovered an emerging world class Zn-PbAg-Cu metal system with provincial scale potential. Within tenement E69/3464, the Zinc sulphide dominant mineralisation occurs within two well defined deposits (Chinook and Tonka) with a combined strike of 13km and 2km cross strike, which remain open in all directions and at depth ( see image 1 ). Higher-grade zones within the mineralised Navajoh Unconformity Unit and underlying dolomite (Sweetwater Well Dolomite – formerly Navajoh Dolomite) are associated with multiple inferred feeder faults/zones that are oriented both northwest and east-west.

• The Tonka and Navajoh Prospects are linked by higher-grade east-west feeder fault zones within a large 8km x 2km northwest trending mineralised footprint that remains open in all directions. Two mineralised feeder faults/zones (Colorado and Magazine) have been outlined to date, with the opportunity to define multiple additional zones - see image 1.

• The Chinook Prospect is a large 5km by 2km northwest trending mineralised footprint which remains open in all directions. Higher-grade zones associated with both northwest and east-west trending feeder structures with two principal feeder zones (Kalitan and Spur) interpreted to date - see image 1.

• The Earaheedy Project has provincial scale potential with the newly granted 100% owned E69/3787 & E69/3862 tenements providing :

• A further 23km’s of potential unconformity type mineralised strike along the Sweetwater and Navajoh Southeast trends, which is yet to be drill tested. These trends have increased the overall strike of this unconformity mineralised horizon to 42km’s. There is likewise potential to discover new high grade mineralisation styles in the untested underlying geological formations ( see image 3 ) including the Iroquois Dolomite where Strickland Metals announced the intersection of high-grade zinc intersections (refer ASX announcement STK – 14/10/21) – see image 1.

• The broad Iroquois Dolomite unit occurs over a 35km strike and is interpreted to surface within the recently granted E69/3787 (100% RTR) which also remains to be drill tested – see Image 1.

==> picture [536 x 324] intentionally omitted <==

Image 1 - Earaheedy Project – Prospectivity Map

2

==> picture [82 x 71] intentionally omitted <==

Sweetwater Trend E69/3787 - RTR 100% - RC Drilling Commenced

Drilling by Rumble has defined extensive Zn-Pb-Ag mineralisation on the boundary between E69/3464 and the recently granted E69/3787 (100% Rumble) tenure, which is host to the 15km long untested Sweetwater Trend.

Excitingly, Rumble has now received the necessary heritage clearances from the Wiluna Native Title Holders, the Tarlka Matuwa Piarku Aboriginal Corporation (TMPAC) to commence RC drill testing a 6km section, which hosts the potential western continuation of the large Chinook Zn-Pb deposit. Rumble has submitted a heritage survey request for clearance of the remainder of the Sweetwater Trend and the 8km long Navajoh Southeast Trend that also remains untested.

RC drilling has commenced targeting shallow higher-grade domains associated with potential mineralised feeder structures in the Navajoh Unconformity Unit within E69/3787. The only two shallow historic RC holes previously drilled along the Sweetwater Trend intercepted Zn-Pb mineralisation, 12km to the west of Chinook (see Image 2).

==> picture [560 x 318] intentionally omitted <==

Image 2 – Sweetwater Trend – Prospectivity Map

Iroquois Carbonate Trend E69/3787 - RTR100% - Image 1

Rumble has completed a new interpretation of the Iroquois Dolomite unit which is interpreted to surface within the recently granted E69/3787 (100% Rumble) and has over 35km of untested strike . Rumble has received heritage clearances to start regional aircore reconnaissance drill testing along two sections of the Iroquois Carbonate Trend. Very limited drilling conducted in the 1970’s intercepted shallow Zn-Pb mineralisation in the Iroquois Carbonate Unit including:

• RWAC002 – 9m @ 0.97% Zn + Pb (from 60m to EOH )

• RWAC031 – 1m @ 1.09% Zn + Pb (from 32m to EOH )

These intercepts are along strike from Strickland Metals Ltd (refer ASX: STK announcement - 14/10/2021) high grade intercepts at the Iroquois Prospect, which included 23m @ 5.5% Zn+Pb from 108m and 12m @ 5.4% Zn+Pb from 58m, and emphasizes the potential for further near surface discoveries in the region – see Image 1.

3

Earaheedy Project – Multiple Mineralisation Styles

==> picture [82 x 71] intentionally omitted <==

The overall geological deposition model for the Earaheedy Base Metal Province is continually evolving with some five (5) styles of mineralisation identified (see image 3).

Rumble has confirmed at least four (4) of these styles have been defined within the Earaheedy Project and based on recent drilling completed by Strickland Metals (refer ASX: STK announcement – 14/10/2021), the likelihood of significant Iroquois Dolomite hosted mineralisation below Chinook, Tonka-Navajoh and near surface along the Iroquois Carbonate Trend is very high.

The current drilling has outlined laterally extensive flat lying unconformity related zinc-lead-silver sulphide mineralisation at the Chinook, Tonka-Navajoh Prospects (mineralisation styles 1 and 2 – image 3).

==> picture [559 x 457] intentionally omitted <==

Image 3 – Earaheedy Project - Model of Multiple Mineralisation Styles

4

2022 - 50,000m Drilling Program – Progress Update

==> picture [82 x 71] intentionally omitted <==

A large scale 50,000m commenced in January 2022 with over 26,000m of RC drilling already completed. Unfortunately, as seen in 2021, industry-wide delays in assay turnaround times have continued and the Company currently has over 11,000 samples pending from intervals selected based upon visual and XRF information.

The RC drilling has been focused on the Tonka Prospect targeting high-grade Zn-Pb domains at the newly identified east-west trending Colorado Zone.

Colorado High-Grade Zone

• The Colorado Zone comprises of multiple open-ended, inferred, mineralised feeder structures with strike lengths up to 2km – See Images 4 & 5

• Two recent holes targeting the Colorado Zone have returned:

• EHRC515 – 73m @ 3.07% Zn + Pb (2.75% Zn, 0.32% Pb) from 106m

  • Including 13m @ 5.38% Zn + Pb (4.87% Zn, 0.51% Pb) from 108m o with 6m @ 6.7% Zn + Pb (6.13% Zn, 0.57% Pb) from 108m

  • Including 19m @ 3.48% Zn + Pb (3.08% Zn, 0.35% Pb) from 132m o with 7m @ 4.5% Zn + Pb (4.03% Zn, 0.47% Pb) from 136m

  • Including 9m @ 3.56% Zn + Pb (3.18% Zn, 0.38% Pb) from 162m o with 2m @ 8.17% Zn + Pb (7.49% Zn, 0.68% Pb) from 162m

• EHRC518 – 7m @ 10.71% Zn + Pb (8.52% Zn, 2.19% Pb) from 137m ▪ Including 3m @ 19.93% Zn + Pb (15.88% Zn, 4.05% Pb) from 138m

==> picture [544 x 320] intentionally omitted <==

Image 4 – Tonka Navajoh Prospect – Maximum Zn + Pb Grade in Drill Hole Contouring and Intersections

5

==> picture [518 x 375] intentionally omitted <==

Image 5 – Tonka Navajoh Prospect – Section PP1 & PP2

Upcoming Activity at the Earaheedy Project

Tonka Navajoh Prospect - E69/3464 - RTR (75%) / ZNC (25%) JV

• Extension and infill RC drilling along the new high-grade Colorado Zone - Planned

• Extension and infill RC drilling along the high-grade Magazine Zone - Planned

Chinook Prospect - E69/3464 - RTR (75%) / ZNC (25%) JV

• RC infill and extension drilling to delineate further shallow high-grade Zn-Pb mineralisation in the Kalitan Feeder Zone and within the recently interpreted east-west trending mineralised “feeder” structures, including the Spur Zone - Planned

Sweetwater Tenements - E69/3787 and E69/3862 - RTR 100%

• Surface geochemical survey to define the surface expression of the host Navajoh Unconformity Unit along the Sweetwater and Navajoh Southeast trends - Commenced

• RC drilling west of Chinook to test the extension of the Zn-Pb mineralisation – Commenced

• Airborne Falcon gravity survey – Planned for late July

• Initiate reconnaissance aircore drilling along the interpreted 35km area, which could potentially host the near surface Iroquois Dolomite Member within E69/3787 – Planned in August

Metallurgy

• Sighter metallurgy studies, including flotation and preconcentration testing - Ongoing

6

Initial Exploration Target

==> picture [82 x 71] 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 Sulphide. 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.

Earaheedy Zn-Pb Project – Exploration Target
Range	Tonnes	Grade
Lower	100,000,000	3.5% Zn + Pb Sulphide
Upper	120,000,000	4.5% Zn + Pb Sulphide

Table 1: Near surface exploration target down to 120 metre - shallow depth

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 are results from over 50,000m of drilling completed by Rumble. Historic drilling includes sixty-four (64) 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, 23[rd] 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 sulphide mineralisation.

• Over 42km’s of prospective strike and open (refer images 1 & 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 51 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.

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 two contiguous exploration licenses, EL69/3787 and EL69/3862 that are held 100%.

Since the major Zn-Pb-Ag-Cu discovery in April 2021, scoping and broad spaced infill drilling has rapidly uncovered an emerging world class scale Zn-Pb-Ag-Cu base metal system, with the drilling continuing to make discoveries and new multiple large-scale targets evolving.

The Project covers 42km of the Navajoh Unconformity Unit’s prospective strike which remains untested and open.

7

==> picture [524 x 305] intentionally omitted <==

Image 6 – Earaheedy Project – Geology and Prospect Location Plan

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.

Previous Drill Results

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

• ASX Release 23/8/2019 – 14 High Priority Targets and New Mineralisation Style

• ASX Release 23/1/2020 – Large Scale Zn-Pb-Ag Discoveries at Earaheedy

• 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

• ASX Release 13/12/2021 - New Zinc-Lead-Silver Discovery at Earaheedy Project

• ASX Release 21/12/2021 – Major Zinc-Lead-Silver-Copper Feeder Fault Intersected

• ASX Release 20/1/2022 – Two Key Tenements Granted at Earaheedy Zn-Pb-Ag-Cu Project

• ASX Release 31/1/2022 – Shallow High-Grade Zn-Pb Sulphides Intersected at Earaheedy

• ASX Release 21/2/2022 – Further High-Grade Zn-Pb Results and Strong Grade Continuity

• ASX Release 9/3/2022 – Major Expansion of Zn - Pb Mineralised Footprint at Earaheedy

About Rumble Resources Ltd

Rumble Resources Ltd is an Australian based exploration company, officially admitted to the ASX on the 1st of 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.

8

Competent Persons Statement

==> picture [82 x 71] intentionally omitted <==

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.

9

Table 2

Historic Drill Hole Location and Intersections – Sweetwater Trend

==> picture [82 x 71] intentionally omitted <==

Hole ID	E MGA	N MGA	Depth	Dip	Azi	Depth From	Thickness (m)	Zn%	Pb%	Pb+Zn% >5000ppm	Comment
RWAC002	260835.29	7156159.6	69	-90	0	60	9	0.22	0.76	0.97	to EOH
RWAC031	265735.28	7151159.6	33	-90	0	32	1	0.00	1.08	1.08	to EOH

10

Section 1 Sampling Techniques and Data

==> picture [82 x 71] intentionally omitted <==

Criteria	JORC Code explanation			Commentary
Sampling	• Nature and quality of sampling (e.g. cut channels,	•	No	recent drilling completed
techniques	random chips, or specific specialised industry	•	Historic drilling – mineralised
	standard measurement tools appropriate to the		section reporting >1000ppm Zn +
	minerals under investigation, such as down hole		Pb
	gamma sondes, or handheld XRF instruments,
	etc.). These examples should not be taken as
	limiting the broad meaning of sampling.
	• Include reference to measures taken to ensure
	sample representivity and the appropriate
	calibration of any measurement tools or systems
	used.
	• 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.
Drilling	• Drill type (e.g. core, reverse circulation, open-hole	•	Historic RC Drilling 2 holes only
techniques	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.)..
Drill sample	• Method of recording and assessing core and chip	•	Not	known
recovery	sample recoveries and results assessed.
	• Measures taken to maximise sample recovery and
	ensure representative nature of the samples.
	• Whether a relationship exists between sample
	recovery and grade and whether sample bias may
	have occurred due to preferential loss/gain of
	fine/coarse material.
Logging	• Whether core and chip samples have been	•	Not	known
	geologically and geotechnically logged to a level of
	detail to support appropriate Mineral Resource
	estimation, mining studies and metallurgical
	studies.
	• Whether logging is qualitative or quantitative in
	nature. Core (or costean, channel, etc.)
	photography.
	• The total length and percentage of the relevant
	_intersections logged. _
Sub-	• If core, whether cut or sawn and whether quarter,	•	Not	known
sampling	half or all core taken.
techniques	• If non-core, whether riffled, tube sampled, rotary
and sample	split, etc. and whether sampled wet or dry.
preparation	• For all sample types, the nature, quality and
	appropriateness of the sample preparation
	technique.
	• Quality control procedures adopted for all sub-
	sampling stages to maximise representivity of
	samples.
	• Measures taken to ensure that the sampling is
	representative of the insitu material collected,

11

Criteria		JORC Code explanation		Commentary
		including for instance results for field
		duplicate/second-half sampling.
		• Whether sample sizes are appropriate to the grain
		size of the material being sampled.
Quality	of	• The nature, quality and appropriateness of the	•	Not known
assay data		assaying and laboratory procedures used and
and		whether the technique is considered partial or total.
laboratory		• For geophysical tools, spectrometers, handheld
tests		XRF instruments, etc., the parameters used in
		determining the analysis including instrument make
		and model, reading times, calibrations factors
		applied and their derivation, etc.
		• 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. _
Verification		• The verification of significant intersections by either	•	Not known
of sampling		independent or alternative company personnel.
and		• The use of twinned holes.
assaying		• Documentation of primary data, data entry
		procedures, data verification, data storage (physical
		and electronic) protocols.
		• _Discuss any adjustment to assay data. _
Location	of	• Accuracy and quality of surveys used to locate drill	•	Initial survey unknown. DH collars
data points		holes (collar and down-hole surveys), trenches,		delineated from detailed WWV3
		mine workings and other locations used in Mineral		satellite imagery and reported in
		Resource estimation.		MGA94
		• Specification of the grid system used.
		• Quality and adequacy of topographic control.
Data		• Data spacing for reporting of Exploration Results.	•	Not applicable
spacing and		• Whether the data spacing and distribution is
distribution		sufficient to establish the degree of geological and
		grade continuity appropriate for the Mineral
		Resource and Ore Reserve estimation procedure(s)
		and classifications applied.
		• _Whether sample compositing has been applied. _
Orientation		• Whether the orientation of sampling achieves	•	Not known
of data	in	unbiased sampling of possible structures and the
relation	to	extent to which this is known, considering the
geological		deposit type.
structure		• If the relationship between the drilling orientation
		and the orientation of key mineralised structures is
		considered to have introduced a sampling bias, this
		should be assessed and reported if material.
Sample		• The measures taken to ensure sample security.	•	Not Known
security
Audits	or	• The results of any audits or reviews of sampling	•	Not known
reviews		techniques and data.

12

Section 2 Reporting of Exploration Results

==> picture [82 x 71] intentionally omitted <==

Criteria			JORC Code explanation	Commentary	Commentary
Mineral			• Type, reference name/number, location and	•	The Earaheedy Project comprises
tenement		and	ownership including agreements or material		of a granted exploration license –
land	tenure		issues with third parties such as joint ventures,		The Earaheedy Project comprises
status			partnerships, overriding royalties, native title		of E69/3464 (75% Rumble and
			interests, historical sites, wilderness or national		25% Zenith Minerals – JV) and
			park and environmental settings.		two recently granted exploration
			• The security of the tenure held at the time of		licenses E69/3787 and E69/3862
			reporting along with any known impediments to		(100% Rumble)
			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	•	The Earaheedy Project Deposit
			mineralisation.		type is considered to be a MVT
					variant (Irish Style in part).
					Mineralisation is predominantly
					stratiform sediment unconformity
					hosted in both carbonate and
					clastic flat lying lithologies.
Drill		hole	• A summary of all information material to the	•	Table 1 – Near surface
Information			understanding of the exploration results including		exploration target down to 120
			a tabulation of the following information for all		metre - shallow depth
			Material drill holes: o easting and northing of the drill hole collar o elevation or RL (Reduced Level – elevation	•	Table 2 – Assay results for RWAC002 and RWAC031
			above sea level in metres) of the drill hole
			collar
			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.
Data			• In reporting Exploration Results, weighting	•	Historic drilling cut-off grades
aggregation			averaging techniques, maximum and/or		used include:
methods			minimum grade truncations (e.g. cutting of		o 0.5% Zn
			high grades) and cut-off grades are usually		o 0.5% Zn + Pb
			Material and should be stated.		o >0.1% Zn
			• Where aggregate intercepts incorporate	•	The Zn:Pb ratio is variable over
			short lengths of high-grade results and		the project area. On average the
			longer lengths of low-grade results, the		Zn:Pb ratio for sulphide is 3. The
			procedure used for such aggregation should		average Zn:Pb ratio for oxide is
			be stated and some typical examples of		0.8.
			such aggregations should be shown in	•	Historic drilling – if diamond
			detail.		drilling or RC composite –
			• The assumptions used for any reporting of		weighted average used.
			metal equivalent values should be clearly
			_stated. _
Relationship			• These relationships are particularly	•	Drilling is vertical. Mineralisation is
between			important in the reporting of Exploration		flat. Width of mineralisation is true
mineralisation			_Results. _

13

Criteria		JORC	Code explanation	Commentary
widths	and	•	If the geometry of the mineralisation with		width.
intercept lengths		•	respect to 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 effect (e.g. ‘down hole	•	A single RC traverse was completed at -60 degrees. Intersection represents 85% of true width.
			length, true width not known’).
Diagrams		•	Appropriate maps and sections (with scales)	•	Image 1 - Earaheedy Project –
			and tabulations of intercepts should be		Prospectivity Map
			included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar	•	Image 2 – Sweetwater Trend – Prospectivity Map
			locations and appropriate sectional views.	•	Image 3 – Earaheedy Project -
					Model of Multiple Mineralisation
					Styles
				•	Image 4 – Tonka Navajoh
					Prospect – Maximum Zn + Pb
					Grade in Drill Hole Contouring and
					Intersections
				•	Image 5 – Tonka Navajoh
					Prospect – Section PP1 & PP2
				•	Image 6 – Earaheedy Project –
					Geology and Prospect Location
					Plan
Balanced		•	Where comprehensive reporting of all	•	Table 2 represents historic drill
reporting			Exploration Results is not practicable,		hole locations at Sweetwater.
			representative reporting of 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	•	Included in body of
substantive			material, should be reported including (but		announcement where applicable.
exploration			not limited to): geological observations;
data			geophysical survey results; geochemical
			survey results; bulk samples – size and
			method of treatment; metallurgical test
			results; bulk density, groundwater,
			geotechnical and rock characteristics;
			potential deleterious or contaminating
			substances.
Further work		•	The nature and scale of planned further	•	RC drilling – Definition drilling of
			work (e.g. tests for lateral extensions or		the newly defined higher-grade
			depth extensions or large-scale step-out		feeders at Tonka-Navajoh
			drilling).	•	RC Drilling Sweetwater Trend
		•	Diagrams clearly highlighting the areas of	•	Aircore Drilling – Iroquois
			possible extensions, including the main		Carbonate Zone
			geological interpretations and future drilling	•	RC Drilling – Infill and extension of
			areas, provided this information is not		Kalitan feeder and Spur Zone
			commercially sensitive.	•	DD into the Kalitan Feeder Zone
				•	RC drilling – reconnaissance –
					scoping work

14