RUMBLE RESOURCES LIMITED — Capital/Financing Update 2024

Oct 14, 2024

15 October 2024

Western Queen Gold Resources increased 76% to 287koz @ 2.02g/t

• The Western Queen Gold Project Mineral Resource Estimate (MRE) has been upgraded to 4.42Mt at 2.02g/t for 286,600 oz for 123,200oz an increase of 76% in the Indicated and Inferred Resources compared to the August 2021 MRE
• Diamond drilling completed in June 2024 prompted a comprehensive lithostructural review and reinterpretation of the Western Queen Gold Project and led to the remodelling of the MRE
• Indicated Resources have increased by 142%, representing 56% of the total MRE
• The Western Queen MRE is contained within granted Mining Licences, M59/208 and M59/45, and located within a 100km radius of three gold processing facilities, the closest being Spartan's Dalgaranga Mill (48km by road)
• Historical mining has produced 880,000t at 7.6g/t Au for 215,000 oz from the Western Queen gold deposits
• Mineralisation remains open along strike and at depth along the 2.7km Western Queen Shear Zone and shows strong potential for additional high-grade resource growth.
• Further drilling aimed at significantly increasing the new MRE is planned in the coming months with up to 12,000m of RC and diamond drilling to test these underexplored areas

Peter Harold, Rumble Managing Director and CEO commented: "We believe that Western Queen is one of the most underexplored high-grade gold projects in Western Australia. The 76% increase in in contained ounces is an extremely positive development for Rumble and highlights the quality of the resources at Western Queen. We now have 286,600 ounces of gold averaging just over 2 grams per tonne on granted mining leases, within trucking distance of existing operating gold plants, historical production of 215,000 ounces together with significant exploration prospectivity. The exploration team is to be complemented on this work and we look forward to more positive newsflow from Western Queen including the results from the next phase of drilling as we move towards production from Western Queen South."

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

ASX RTR

Executives & Management

Mr Peter Harold Managing Director & CEO

Mr Peter Venn Technical Director

Mr Matthew Banks Non-executive Director

Mr Michael Smith Non-executive Director

Mr Geoff Jones Non-executive Director

Mr Brett Keillor Technical Consultant

Mr Trevor Hart CFO & Joint Company Secretary

Mr Steven Wood Joint Company Secretary

Rumble Resources Limited (ASX:RTR) ("Rumble" or the "Company") is pleased to announce a 76% increase to the Company's Mineral Resource Estimate (MRE) for the Western Queen Gold Project that was previously announced on 2 August 2021.The revised MRE is 4.42Mt @ 2.02 g/t Au for a total of 286,600 ounces for the Western Queen Gold Project. The MRE includes Indicated and Inferred Resource classifications in accordance with the Australasian Code of Reporting of Identified Mineral Resources and Ore Reserves (JORC Code 2012), with all the resources located within granted Mining Leases. Indicated Resources are 2.39Mt @ 2.11g/t Au for 163,800 ounces, which is a 142% increase compared to the August 2021 MRE1 , and represents 56% of the total MRE. The combined open cut and underground resource for the Western Queen Gold Project is presented in Table 1.

Diamond drilling completed by the Company in June 2024 provided further geological understanding of the controls on the mineralised system and prompted a comprehensive geological review of the Western Queen Project. This review led to a lithostructural reinterpretation that incorporated new zones of mineralisation that were not previously wireframed as part of the resource modelling exercise in 2021 as well as the extensions provided by the recent drill programs.

The updated Western Queen Project Mineral Resource Statement includes all reverse circulation (RC) and diamond drilling results from July 2024 and the new wireframes modelled and supplied by Rumble, whilst the MRE was prepared by Ashmore Advisory Pty Limited (Ashmore). Ashmore undertook the MRE using Ordinary Kriging estimation methodology constrained by interpreted domain wireframes and was depleted for all resources contained inside of existing open pit and underground mining voids prior to reporting. The Western Queen Resource is reported at a 0.5g/t Au cut-off for open cut resources above the 245mRL level and 1.5g/t Au cut-off below the 245mRL level for underground resources. The 245mRL level was chosen as it is the base level of the Western Queen Central Open Pit, which has historical reconciled production of 660kt at 8.9g/t Au for 190,000 ounces.

The deposits remain open at depth and the Company believes there is significant near-term exploration potential at the Western Queen Gold Project. In particular, the Princess Deposit area, between the Western Queen Central and South Open Pits has only previously been sparsely drilled below the oxide-transitional zone, 50-80m below surface (refer to Figure 1). Additionally, significant exploration potential also exists along strike to the north and to the south along the recently reinterpreted position of the Western Queen Shear Zone (WQSZ). Figure 3 displays the previous significant drillhole intercepts and recently inferred position of the WQSZ that remains largely untested.

Figure 1 - Western Queen Gold Project – longitudinal section of resources, previous mining and near deposit exploration potential

The Western Queen Project located within a 100km radius of three gold processing mills (refer to Figure 2). The closest mill is the Dalgaranga Mill (48km by road) which has a capacity of 2.5 Mtpa. The Checkers Mill has a capacity of 1.9 Mtpa and the Tuckabianna Mill has a capacity of 1.2 Mtpa. These facilities provide the possibility for a near term toll treating option.

Figure 2 – Western Queen tenure and location with neighboring Gold Processing Facilities

Proposed Exploration Program

The Company is prioritising a significant drill program for commencement in early November at Western Queen. The program will include up to 10,000m reverse circulation and 2,000m diamond core drilling. Preliminary discussions with drilling contractors indicate that a significant portion of the program will be completed under a "drill for equity" style arrangement. The initial priority areas for the upcoming drilling program are as follows:

ML59/45 and ML59/208 (refer Figures 1 and 3)

• Whilst the Princess deposit area between Western Queen South (WQS) and Western Queen Central (WQC) open pit has seen extensive historical small scale shaft mining, only sparse exploration drilling has occurred below the upper oxide-transitional zone.
• Immediately below the WQS Resource, multiple high-grade lodes exist which are open at depth. Previous exploration drilling at WQS returned intercepts including:
  • o 4m @ 49.73 g/t Au from 134m (QND-38975-1)
  • o 5m @ 38.76 g/t Au from 193m (WQRC188)
  • o 17m @ 5.7 g/t Au from 221m (WQRC188)
  • o 5m @ 5.02g/t Au from 216m – (WQDD013)– newly recognised lode
• Directly below the WQC open pit and underground workings where multiple high-grade lodes exist which remain open and untested at depth.

Previous exploration drilling at WQC returned intercepts including:

• o 6.4m @ 36.09 g/t Au from 305.7m (WQD-1072)
• o 6m @ 34.24 g/t Au from 354m (WQRC007D)
• o 5m @ 22.00 g/t Au from 280m (WQRC150)
• o 11.8m @ 16.08 g/t Au from 340.4m (WQD-1089)
• Below the Duke Deposit, where mineralisation is open at depth. Previous exploration drilling at Duke returned intercepts including:
  • o 8m @ 26.27 g/t Au from 14m (WQRC155)
  • o 6m @ 25.87 g/t Au from 48m (WQRC157)
  • o 7m @ 60.6 g/t Au from 70m (WQJC-32)
  • o 6m @ 37.34 g/t Au from 50m (QNC-10310-1)
• Over the 2km strike between the Duke and Cranes deposits;
  • o Limited RAB drilling with an average end of hole depth of less than 20m and three RC holes is the only drilling that exists between Duke and Cranes.
  • o Cranes has a small gold in laterite and oxide Inferred Resource of 3,314oz @ 1.39g/t (refer to Tables 1 and 3).
  • o Limited previous drilling at Cranes returned 14m @ 4.87 g/t Au from surface and 11m @ 1.85 g/t Au from surface.
• Further northeast of Cranes the position of the WQSZ has been reinterpreted using detailed airborne magnetics flown by Rumble and remains untested.

Figure 3 - Western Queen Shear Zone Prospectivity over TMI Airborne Magnetics

Western Queen Mineral Resources Summary

The deposits have been interpreted as a structurally controlled shear hosted mineralisation focused along the main Western Queen Shear Zone (WQSZ) that strikes NE-SW and dips steeply 70o to the west. Structural geology logging information collected as part of the June 2024 diamond drilling program indicates that highgrade gold mineralisation is controlled in part by a shallow to moderate (30°-40°) south dipping plunge control. This observation matches the overall grade distribution of the Western Queen South (WQS) and Western Queen Central (WQC) ore bodies.

The Mineral Resources have been constrained by mineralisation domains built using Leapfrog software based on interval selection interpretation for mineralised zones above certain grade thresholds. The Mineral Resource block models were created and estimated in Surpac using Ordinary Kriging grade interpolation.

For open cut mineralisation modelling (above the 245mRL level) the following criteria were used:

• maximum of 3m internal waste;
• composite gold grade interval greater than 0.3g/t;
• zones extended up and down-dip halfway to the nearest hole in well-drilled areas of no more than 40 m in sparsely drilled areas; and
• Mineralised domains situated in the upper oxide zone were either modelled as flat lying supergene zones or steeply dipping zones if they were interpreted to represent the in-situ portion of an underlying hypogene zone.

For underground mineralisation modelling (below the 245mRL level), the following criteria were used:

• maximum of 3m internal waste;
• composite gold grade interval greater than 1.0g/t; and
• zones extended up and down-dip halfway to the nearest hole in well-drilled areas of no more than 40 m in sparsely drilled areas.

		Indicated			Inferred			Total
Prospect	Tonnage	Au	Au	Tonnage	Au	Au	Tonnage	Au	Au
	kt	g/t	Ounces	kt	g/t	Ounces	kt	g/t	Ounces
Cranes				70	1.39	3,300	70	1.39	3,300
Duke	50	4.23	7,000	70	2.70	5,700	120	3.37	12,800
WQC	590	3.11	59,300	630	2.54	51,700	1,230	2.81	111,000
Princess	180	0.92	5,200	680	1.35	29,300	850	1.26	34,600
WQS	1,560	1.79	90,300	580	1.86	34,600	2,140	1.81	124,900
Total	2,390	2.11	161,800	2,030	1.91	124,700	4,420	2.02	286,600

Table 1: Mineral Resource Estimate Tabulation for the Western Queen Project

Notes:

Totals may differ due to rounding, Mineral Resources reported on a dry in-situ basis. Refer to Table 3 for a comprehensive breakdown of Resources by Area

All Mineral Resources figures reported in the table above represent estimates as at October 2024. Mineral Resource estimates are not precise calculations, being dependent on the interpretation of limited information on the location, shape and continuity of the occurrence and on the available sampling results.

Mineral Resources are reported in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (The Joint Ore Reserves Committee Code – JORC 2012 Edition).

The pit optimisations have shown that a large proportion of the resource has the potential to be mined economically, and further mining studies are warranted to further progress the project. Mineral Resources that are not Ore Reserves have not demonstrated economic viability at this point. The estimate of Mineral Resources may be materially affected by environmental, permitting, legal, title, taxation, socio-political, marketing, or other relevant issues.

Cut-off	Total Resourceabove245mRL			Total Resourcebelow245mRL
Grade(g/t)	Tonnage(t)	Au(g/t)	AuOunces	Tonnage(t)	Au(g/t)	AuOunces
0.0	3,621,463	1.31	152,208	3,810,757	1.69	207,004
0.3	3,501,177	1.34	151,271	3,714,350	1.73	206,355
0.5	2,915,699	1.53	143,557	3,379,240	1.86	202,105
0.7	2,285,138	1.79	131,447	3,073,401	1.99	196,241
1.0	1,526,057	2.26	111,044	2,344,144	2.34	176,104
1.2	1,209,625	2.57	99,898	1,915,774	2.61	160,903
1.5	856,578	3.08	84,786	1,499,678	2.97	143,001
1.8	651,755	3.53	73,923	1,115,797	3.42	122,668
2.0	552,937	3.82	67,918	910,560	3.76	110,168
2.5	408,930	4.38	57,564	529,827	4.89	83,299

Table 2 – Grade-Tonnage breakdown of the Western Queen Resource for varying economic cut-off grades

Note: The Western Queen Resource has been reported at a 0.5g/t cut off grade for Resources above the 245mRL and 1.5g/t for Resources below the 245mRL. The corresponding reported numbers are highlighted in the table..

Historical Open Pit and Underground Mine Production at Western Queen

Oldest known historical production from Western Queen was between 1936-1937, when 9,991tonnes at an average grade of 17.3 g/t Au for 5,550 oz Au was mined. Subsequently the Western Queen mine produced 660,000 tonnes at 8.9 g/t Au for 188,800 oz Au. The high-grade orebody was mined initially via open pit (Equigold NL October 1998 to March 2001), then via a small underground mine (2001 - 2002) developed from a decline in the pit.

During the underground mining period, 82,907 tonnes of ore was mined in two stages and sent to the Dalgaranga Mill. The first stage completed was for 8,355 tonnes at 10.32 g/t Au. The second stage, 74,552 tonnes was processed as the Dalgaranga Mill (Equigold) when the mill was shutting down, and consequently the reconciliation of grade is uncertain (although it was thought to be more than 10 g/t Au). There are only two stope models in the historic underground workings' wireframes (refer Figure 4). This means there is potential for high-grade mineralisation in unmined areas of the underground, such as the crown pillar, between levels 1 and 2, and beneath level 2.

A historic mine report (dated 2001) wrote that the ore had been closed out on the Level 2 northern drive by an antiformal fold which plunges to the north and appears to dip at about 60 to 70°. There is also a cross-cutting pegmatite potentially closing off the ore. It was noted in the report that there was potential for additional tonnes below the 3 Level, and that the area is poorly understood both in terms of mineralisation and the position of the pegmatite, due to lack of holes.

Figure 4 - Western Queen Central Base of Pit and Underground workings

The Western Queen South open pit has been previously mined and the ore hauled to the Checkers Mill in Mt Magnet in two separate mining campaigns by Harmony Gold (Harmony) in 2007 and Ramelius Resources Limited (Ramelius) in 2014. A total of 226,727 tonnes at 3.74 g/t Au for 27,238 oz Au was mined.

The first mining campaign by Harmony commenced on 12 July 2007 and finished on 20 November 2007 with a pit wall failure ending production when the pit was 42 m deep. A total of 61,660 tonnes at 3.46 g/t Au for 6,859 oz Au was mined in this period. The second campaign by Ramelius commenced on 1 March 2013 and finished on 12 March 2014 with a pit wall failure ending production when the pit was 90m deep. A total of 165,067 tonnes at a grade of 3.84 g/t Au for 20,378 oz Au was mined during this time.

The following is a summary of additional material information used to estimate the Mineral Resource, as required by Listing Rule 5.8.1 and JORC 2012 Reporting Guidelines.

History

The Western Queen Project has undergone numerous ownership changes in the past. The most recent transfer of ownership was from Ramelius (wholly-owned entity Mt Magnet Gold Pty Ltd) to Rumble in August 2019.

Mineral Title Status

There are two contiguous mining leases (M59/45 and M59/208, total area 9.8 km2 ) within the project area and both are wholly-owned by Rumble Resources Limited. Both mining leases are in good standing. In addition, there are three exploration tenements (E20/0967, ELA59/2816 and ELA59/2926) over the area, covering the northern and southern strike extent of the mineralised Western Queen Shear Zone (WQSZ) in the Warda Warra greenstone belt.

Geology and Geological Interpretation

The Western Queen tenements lie within the Archaean Warda Warra Greenstone Belt, a north trending enclave within the Murchison Province of the Yilgarn Craton.

The Western Queen and Western Queen South deposits are within the Kylie Mining Group and are the largest known deposits within the Warda Warra Greenstone Belt. The Warda Warra Greenstone Belt is approximately 35 km in length, and at the southern end near the Western Queen deposit it is 2 km wide, while at the northern end it is up to 7 km wide. The north striking and steeply west dipping Warda Warra Greenstone Belt is a layered sequence that has been metamorphosed to amphibolite grade and is enveloped by recrystallised granitoids.

At Western Queen, the geology is steep westerly dipping and comprises intercalated sheared amphibolites of mafic to ultramafic composition with thin iron formation horizons, komatiitic basalt, dolerite sills, and talc chlorite schists. Later dolerite and pegmatitic felsic intrusives cut across the amphibolites and gold mineralisation.

Mineralisation is associated with sheared silica-sulphide zones with an ultramafic footwall and a mafic hanging wall. The mineralised zone is strongly recrystallised and massive, comprising phlogopite- chloritetremolite-talc schist, amphibolite with lenticular quartzo-feldspathic layering and quartz- muscovite-biotitesillimanite schist. Pyrite, pyrrhotite, chalcopyrite, molybdenite and scheelite are present. Depth of complete oxidation is approximately 30m to 60m with depth to fresh rock approximately 45 to 80m. A zone of lacustrine sediments up to 45m thick overlies the WQS deposit.

Sampling and Sub-Sampling Techniques

Sampling procedures followed by historic operators are assumed to be in line with industry standard practice at the time. Since 2019, RC drilling by RTR was used to obtain 1 m samples which were split cone splitter at the rig to produce a 1.5 – 2.5kg sample. The samples were transported to the laboratory (ALS Perth) for analysis via 30g Fire Assay.

Diamond drilling completed by Rumble was sawn as ½ core (for NQ) and sampled. Previous companies have conducted diamond drilling with mostly ½ core or rarely ¼ core taken.

Drilling Techniques

The Western Queen deposit has been sampled using Rotary Air Blast (RAB), Air Core (AC), Reverse Circulation (RC) and Diamond (DD) drilling over numerous campaigns by several operators. The RC drilling for resource definition and grade control used a nominal 5 ½ inch diameter face sampling hammer. AC drilling used a conventional 3 ½ inch face sampling blade to a refusal or a 4 ½ inch face sampling hammer to a nominal depth. The diamond drilling was undertaken as diamond tails to the RC holes or diamond core from surface, using NQ2 sized equipment. RAB and AC drilling has been excluded from the estimate.

RC sample recovery was visually assessed and recorded where significantly reduced. Very little sample loss was noted. The diamond drilling recovery was excellent with very little or no core loss identified. RC samples were visually checked for recovery, moisture and contamination. A cyclone and splitter were used to provide a uniform sample and these were routinely cleaned. DD drilling was undertaken and the core measured and orientated to determine recovery, which was generally 100%.

Classification Criteria

The Western Queen Mineral Resource was classified as Indicated and Inferred Mineral Resource based on data quality, sample spacing, and lode continuity. The Indicated Mineral Resource was defined within areas of close spaced RC and DD drilling of predominantly 25m by 20m, and where the continuity and predictability of the lode positions was good. The Inferred Mineral Resource was assigned to areas where drill hole spacing was greater than 25m by 20m, where small, isolated pods of mineralisation occur outside the main mineralised zones, and to geologically complex zones.

Sample Analysis Method

Historical gold assays were carried out by a combination of Aqua regia and Fire assay. For the most recent drilling carried out by Rumble, samples were assayed at ALS Perth by Fire Assay. The sample was crushed, a 250g split was taken and pulverised. Assaying for gold was via a 30g charge lead collection Fire Assay with AAS finish.

Estimation Methodology

The mineralisation was constrained by wireframes prepared using a 0.2g/t gold cut-off grade and generated in Leapfrog software. Following a review of the population histograms and log probability plots, it was determined that the application of high-grade cuts was required, with cuts ranging between 10 and 70g/t gold. A total of 81 composites were cut.

The block model parent block dimensions used were 10m NS by 5m EW by 5m vertical with sub-cells of 0.625m by 0.625m by 0.625m and the model was rotated on a bearing of 020° to match the approximate strike of the mineralisation. In addition, where grade control spaced drilling existed, the estimation parent cell size was reduced to 5m NS by 2.5m EW by 2.5m vertical. The parent block size dimension was selected on the results obtained from Kriging Neighbourhood Analysis that suggested this was the optimal block size for the dataset.

The Mineral Resource block model was created and estimated in Surpac using Ordinary Kriging ("OK") grade interpolation. An orientated 'ellipsoid' search was used to select data and adjusted to account for the variations in lode orientations, however all other parameters were taken from the variography. Up to four passes were used for each domain. First pass had a range of 30m, with a minimum of 8 samples. For the second pass, the range was extended to 60m, with a minimum of 4 samples. For the third pass, the range was extended to 150m, with a minimum of 2 samples. A final pass was used to estimate the remaining unestimated blocks. A maximum of 16 samples was used for all passes, with a maximum of 6 samples per hole.

Bulk densities used for the Western Queen Mineral Resource estimate was based on 171 measurements completed by RTR on rock core samples using the water displacement method, as well as known values from historical mining. The following bulk densities as tonnes per cubic metre (t/m3 ) were used:

• Oxide: 1.9t/m3
• Transition: 2.56t/m3
• Fresh: 2.87t/m3

Cut-off Grade

The Mineral Resource has been reported at 0.5g/t Au cut-off above the 245mRL for open pit mining and at a 1.5g/t Au cut-off below the 245mRL for underground mining. The 245mRL is the maximum depth of the Western Queen Central mined pit. In addition, pit optimisation work conducted by consultant mining engineers supports this approach.

The reporting cut-off parameters were selected based on assumed economic cut-off grades for the Project.

Mining and Metallurgical Methods and Parameters

The deposit has previously been mined using selective open pit mining methods and small-scale underground development.

Metallurgical test work was undertaken by previous operators. Historic production has demonstrated that good gold recovery can be expected from conventional processing methods. The average processing recovery used for the pit optimisations was 93%, which is supported by actual production.

Authorisation

This announcement is authorised for release by the Board of the Company.

-Ends-

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

Peter Harold	Peter Venn	Trevor Hart
Managing Director & CEO	Technical Director	Chief Financial Officer
Rumble Resources Limited.	Rumble Resources Limited	Rumble Resources Limited
info@rumbleresources.com.au

About Rumble

Rumble Resources Ltd is an Australian based exploration company, listed on the ASX in July 2011. Rumble was established with the aim of adding significant value to its selected mineral exploration assets and to search for suitable mineral acquisition opportunities in Western Australia. Rumble has a unique suite of resources projects including the Western Queen Gold Project which has the potential to have near term cashflow and resource growth through future exploration success. In addition, the discovery of the Earaheedy Zn-Pb-Ag Project in 2021 has demonstrated the capabilities of the exploration team to find world class orebodies.

Table 3 - Mineral Resource Estimate Tabulation for the Western Queen Project broken down by Resource Area and split of Indicated and Inferred Resources for reported Open Pit and Underground economic cut-offs

Prospect	MiningMethod	Cut-offg/t	Classification	Tonnes (t)	Au g/t	ContainedMetal
	OC		Indicated	480,201	1.77	27,255
		0.5	Inferred	162,172	1.19	6,228
			Total	642,373	1.62	33,483
			Indicated	113,336	8.78	32,006
WQ	UG	1.5	Inferred	471,388	3.00	45,490
Central			Total	584,724	4.12	77,496
			Indicated	593,537	3.11	59,261
	TOTAL		Inferred	633,560	2.54	51,718
			Total	1,227,097	2.81	110,979
			Indicated	1,314,113	1.62	68,460
	OC	0.5	Inferred	102,338	1.23	4,046
			Total	1,416,451	1.59	72,506
			Indicated	250,672	2.71	21,821
WQ	UG	1.5	Inferred	476,306	2.00	30,561
South			Total	726,978	2.24	52,381
			Indicated	1,564,785	1.79	90,281
	TOTAL		Inferred	578,644	1.86	34,607
			Total	2,143,429	1.81	124,887
			Indicated	51,834	4.23	7,046
	OC	0.5	Inferred	65,598	2.70	5,698
			Total	117,432	3.38	12,744
			Indicated	-	-	-
Duke	UG	1.5	Inferred	714	2.23	51
			Total	714	2.23	51
	TOTAL		Indicated	51,834	4.23	7,046
			Inferred	66,312	2.70	5,749
			Total	118,146	3.37	12,795
	OC	0.5	Indicated	177,575	0.92	5,248
			Inferred	487,825	1.04	16,276
			Total	665,400	1.01	21,524
	UG	1.5	Indicated	-	-	-
Princess			Inferred	187,262	2.17	13,073
			Total	187,262	2.17	13,073
			Indicated	177,575	0.92	5,248
	TOTAL		Inferred	675,087	1.35	29,349
			Total	852,662	1.26	34,597
			Indicated	-	-	-
	OC	0.5	Inferred	74,042	1.39	3,299
			Total	74,042	1.39	3,299
			Indicated	-	-	-
Cranes	UG	1.5	Inferred	-	-	-
			Total	-	-	-
			Indicated	-	-	-
	TOTAL		Inferred	74,042	1.39	3,299
			Total	74,042	1.39	3,299
			Indicated	2,023,723	1.66	108,009
	OC	0.5	Inferred	891,975	1.24	35,548
			Total	2,915,698	1.53	143,557
			Indicated	364,008	4.60	53,826
Total	UG	1.5	Inferred	1,135,670	2.44	89,175
			Total	1,499,678	2.97	143,001
			Indicated	2,387,731	2.11	161,836
	TOTAL		Inferred	2,027,645	1.91	124,723
					Total	4,415,376	2.02	286,558

Note: Totals may differ due to rounding, Mineral Resources reported on a dry in-situ basis.

All Mineral Resources figures reported in the table above represent estimates at October 2024. Mineral Resource estimates are not precise calculations, being dependent on the interpretation of limited information on the location, shape and continuity of the occurrence and on the available sampling results. OC is Open Cut for Resources above the 245mRL and UG is Underground for Resources below the 245mRL.

Previous ASX Announcements – Western Queen Gold Project

• 6/8/2019 Option to Acquire High-Grade Western Queen Gold Project
• 4/11/2019 Western Queen Gold Project Multiple Targets to be Drilled
• 22/11/2019 Drilling Commenced at Western Queen Gold Project
• 17/2/2020 High Grade Gold Discovery at the Western Queen Project
• 25/2/2020 Drilling Commenced at the Western Queen Gold Project
• 14/4/2020 Exploration Update Three Drill Programmes Completed
• 20/5/2020 Drilling Identifies Multiple High-Grade Gold Shoots
• 9/6/2020 Major Drill Programme to Commence Western Queen Gold Project
• 24/6/2020 Major Drill Programme Commenced at The Western Queen Gold Project
• 16/7/2020 500% Increase in Landholding Extends Western Queen Project
• 31/8/2020 Option Exercised to Acquire the Western Queen Gold Project
• 10/9/2020 100% Acquisition of Western Queen Gold Project Complete
• 4/11/2020 Discovery High-Grade Gold Shoots and Shear Zone Extension
• 3/2/2021 High-Grade Gold Shoots at Western Queen South Deposit
• 2/8/2021 Western Queen Resource Upgrade to 163,000oz
• 29/4/2024 Drilling to test High-Grade Gold Zones at Western Queen
• 29/5/2024 Western Queen Drilling Commenced
• 16/7/2024 Western Queen Drilling Update
• 6/8/2024 High-Grade Tungsten Discovery at Western Queen
• 2/9/2024 Tungsten Discovery at Western Queen Confirmed

Competent Persons Statement

The information in this release that relates to Mineral Resources is based on information compiled by Mr Shaun Searle who is a Member of the Australasian Institute of Geoscientists. Mr Searle is an employee of Ashmore Advisory Pty Ltd and independent consultant to Rumble Resources Limited. Mr Searle has sufficient experience, which is 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 Searle consents to the inclusion in this report of the matters based on this information in the form and context in which it appears.

The information in this report that relates to exploration data, geological Interpretation and sampling information informing the Mineral Resource Estimate and potential for eventual economic extraction of the Mineral Resources is based on and fairly represents information compiled by Mr Luke Timmermans, who is a Member of the Australian Institute of Geoscientists. Mr Timmermans is an employee of Rumble Resources Limited. Mr Timmermans 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 Timmermans 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.

Section 1 Sampling Techniques and Data

Criteria	JORC Code explanation	Commentary
Samplingtechniques	•Nature and quality of sampling (eg cut channels,random chips, or specific specialised industrystandard measurement tools appropriate to theminerals under investigation, such as down holegamma sondes, or handheld XRF instruments,etc). These examples should not be taken aslimiting the broad meaning of sampling.•Include reference to measures taken to ensuresamplerepresentivityandtheappropriatecalibration of any measurement tools or systemsused.•Aspects of the determination of mineralisation thatare Material to the Public Report. In cases where'industry standard' work has been done this wouldbe relatively simple (eg 'reverse circulation drillingwas used to obtain 1 m samples from which 3 kgwas pulverised to produce a 30 g charge for fireassay'). In other cases more explanation may berequired, such as where there is coarse gold thathasinherentsamplingproblems.Unusualcommoditiesormineralisationtypes(egsubmarine nodules) may warrant disclosure ofdetailed information.	•The Western Queen gold deposit has beensampled using Rotary Air Blast ("RAB"), Air Core("AC") drilling, Reverse Circulation ("RC") drillingand Diamond ("DD") drilling over numerouscampaigns by several companies and currentlyby Rumble Resources Limited ("RTR"). The RABand AC samples have been excluded from goldinterpolation for this Mineral Resource estimate.•Samplingproceduresfollowedbyhistoricoperators are assumed to be in line with industrystandards at the time.•Since 2019, RC drilling by RTR was used toobtain 1 m samples which were split by conesplitter at the rig to produce a 1.5 – 2.5 kgsample. The samples were transported to thelaboratory (ALS Perth) for analysis via 30 g FireAssay.•A 4 m composite sample of approximately 2 – 3kg was collected for all AC drilling. This wastransported to the laboratory for analysis via 30g Fire Assay. Where anomalous results weredetected, two metre samples were collected forsubsequent analysis via a 30 g Fire Assay.•Thediamonddrillingwasundertakenascomplete diamond holes or diamond tails tocompletedRC holes. The majority of thediamond holes were NQ core holes that weresampled by ½ core.•The samples were assayed using 30 g chargefire assay with an AAS finish.
Drillingtechniques	•Drill type (eg core, reverse circulation, open-holehammer, rotary air blast, auger, Bangka, sonic,etc) and details (eg core diameter, triple orstandard tube, depth of diamond tails, facesampling bit or other type, whether core is orientedand if so, by what method, etc).	•Resource definition RC drilling and GradeControl RC drilling used a nominal 5½ inchdiameter face sampling hammer. AC drillingused a conventional 3½ inch face samplingblade to refusal or a 4 ½ inch face samplinghammer to a nominal depth. The diamonddrilling was undertaken as diamond tails to theRC holes or diamond core from surface, usingNQ2 sized equipment.
Drillsamplerecovery	•Method of recording and assessing core and chipsample recoveries and results assessed.•Measures taken to maximise sample recovery andensure representative nature of the samples.•Whether a relationship exists between samplerecovery and grade and whether sample bias mayhave occurred due to preferential loss/gain offine/coarse material.	•RC sample recovery was visually assessed andrecorded where significantly reduced. Very littlesample loss was noted. The diamond drillingrecovery was excellent with very little or no coreloss identified.•RC samples were visually checked for recovery,moisture, and contamination. A cyclone andsplitter were used to provide a uniform sample,and these were routinely cleaned.•DD drilling was undertaken, and the coremeasured and orientated to determine recovery,which was 100%.•Sample recoveries are generally very high. Nosignificant sample loss was recorded with acorresponding increase in gold present. Samplebias is not anticipated, and no preferentialloss/gain of grade material was noted.
Logging	•Whether core and chip samples have beengeologically and geotechnically logged to a levelof detail to support appropriate Mineral Resourceestimation,mining studiesandmetallurgicalstudies.•Whether logging is qualitative or quantitative innature.Core(orcostean,channel,etc)photography.•The total length and percentage of the relevantintersections logged.	•Detailed logging exists for most historic holes inthe database.•Current RC chips are geologically logged at 1mintervals and chip trays have been stored forfuture reference.•DD drill holes have all been geologically,structurally and geotechnically logged. Thediamond core was photographed tray-by-tray,both wet and dry, and kept at RTR's Perthstorage facility.•RC chip logging recorded the lithology, oxidation

Criteria	JORC Code explanation	Commentary
Sub-samplingtechniquesandsamplepreparation	•If core, whether cut or sawn and whether quarter,half or all core taken.•If non-core, whether riffled, tube sampled, rotarysplit, etc and whether sampled wet or dry.•For all sample types, the nature, quality andappropriatenessofthesamplepreparationtechnique.•Quality control procedures adopted for all subsampling stages to maximise representivity ofsamples.•Measures taken to ensure that the sampling isrepresentative of the in situ material collected,includingforinstanceresultsforfieldduplicate/second-half sampling.•Whether sample sizes are appropriate to the grainsize of the material being sampled.	state, colour, alteration and veining.•Diamond drilling completed by RTR was sawnas ½ core (for NQ) and sampled. Previouscompanies have conducted diamond drilling withmostly ½ core or rarely ¼ core taken.•RC chips were cone split at the rig to produce a1.5 – 2.5 kg sample at 1 m intervals.•At ALS Perth the samples were analysed by FireAssay - the sample was crushed, a 250 g splitwas taken and pulverised. Assaying for gold wasvia a 30 g charge lead collection Fire Assay withAAS finish.•Field QAQC procedures call for the insertion of1 in 20 certified reference materials (CRM)'standards' and 1 in 20 field duplicates for RCand AC drilling and the insertion of "blank"samples. Diamond drilling has 1 in 20 CRMsincluded.•Field duplicates were collected during RC andACdrilling. Further sampling(labumpireassays) was also conducted.•Field duplicates for DD were via quarter core
Qualityofassay data andlaboratorytests	•The nature, quality and appropriateness of theassaying and laboratory procedures used andwhether the technique is considered partial ortotal.•For geophysical tools, spectrometers, handheldXRF instruments, etc, the parameters used indetermining the analysis including instrumentmake and model, reading times, calibrationsfactors applied and their derivation, etc.•Nature of quality control procedures adopted (egstandards, blanks, duplicates, external laboratorychecks)andwhetheracceptablelevelsofaccuracy (ie lack of bias) and precision have beenestablished.	splits of the half-core samples.•All assaying was by 30-gram charge Fire Assaywith AA finish (total digest).•In addition to the Au FA analysis, both RC anddiamond samples were analysed by pXRF andmagnetic susceptibility meter.•Standards were industry CRMs from OREASwhich included low-grade and high- grade alongwith certified blanks CRMs include – G316-1,G916-4, G913-1, G915-2 and G313-4.
Verification ofsamplingandassaying	•The verification of significant intersections byeitherindependentoralternativecompanypersonnel.•The use of twinned holes.•Documentationofprimarydata,dataentryprocedures,dataverification,datastorage(physical and electronic) protocols.•Discuss any adjustment to assay data.	•Verification of significant intersections wascompleted by RTR personnel.•No twin holes were completed.•All data and documentation are both hard copyand electronic.•Assay values that were below detection limitwere adjusted to equal half of the detection limitvalue.
Locationofdata points	•Accuracy and quality of surveys used to locate drillholes (collar and down-hole surveys), trenches,mine workings and other locations used in MineralResource estimation.•Specification of the grid system used.•Quality and adequacy of topographic control.	•Drill-hole collars have been surveyed usingDGPS. Survey completed by Lone Star andMurchison Surveys. System is MGA94 Zone 50.•Down-hole surveys were completed by Gyroevery 20 to 30 m.•Topographic surface was prepared from a aerialdrone survey.
Dataspacinganddistribution	•Data spacing for reporting of Exploration Results.•Whether the data spacing and distribution issufficient to establish the degree of geological andgrade continuity appropriate for the MineralResourceandOreReserveestimationprocedure(s) and classifications applied.•Whether sample compositing has been applied.	•Data spacing is based on surface DGPS drill holepick-up including RL.•Themineraliseddomainshavesufficientcontinuity in both geology and grade to beconsidered appropriate for the Mineral Resourceand Ore Reserve estimation procedures andclassification applied under the 2012 JORCCode.•Samples have been composited to 1m lengths inmineralised lodes using best fit techniques priorto estimation.
Orientation ofdata in relationtogeologicalstructure	•Whether the orientation of sampling achievesunbiased sampling of possible structures and theextent to which this is known, considering thedeposit type.•If the relationship between the drilling orientationand the orientation of key mineralised structures is	•Orientation of sampling versus structure andtrend of gold mineralisation is known based onlarge historic database and mining history of theWestern Queen Central and Western QueenSouth Gold deposits. Mining was completed in2012.

Criteria	JORC Code explanation	Commentary
	considered to have introduced a sampling bias,this should be assessed and reported if material.	•The drill hole orientation is therefore optimal, withmost holes dipping at 50° to 60°towards ESE(perpendicular to strike).
Samplesecurity	•The measures taken to ensure sample security.	•Prenumbered calico bags are collected in lots of5 into labelled white poly-weave bags that arezip tied and put into labelled bulka bags in lots of250 samples. The bulka bags are tied shut and80% of WQ samples were taken directly fromsite to ALS Perth using Rumble employees; theother 20% were taken to Cue and transported byMcMahon Burnett Transport to ALS Perth. Eachsample batch submitted to ALS Perth from WQwas recorded with who and when it wastransported to the Lab and reconciled with thesample submission sheets.
Auditsorreviews	•The results of any audits or reviews of samplingtechniques and data.	•No external audit or review of current samplingtechniques and data has been conducted.

Section 2 Reporting of Exploration Results

Criteria	JORC Code explanation	Commentary
Mineraltenementandlandtenurestatus	•Type, reference name/number, location andownershipincludingagreementsormaterialissues with third parties such as joint ventures,partnerships, overriding royalties, native titleinterests, historical sites, wilderness or nationalpark and environmental settings.•The security of the tenure held at the time ofreporting along with any known impediments toobtaining a license to operate in the area.	•The Western Queen Project comprises twomining leases (M59/45 and M59/208, total areakm2)9.8andthreeexplorationlicenseapplications(E20/967,ELA59/2926andELA59/2816).•RTR acquired 100% of the project in August2019.•Licenses M59/45, M59/208 and E20/967aregranted, in a state of good standing and have noknown impediments.•Licences ELA59/2926 and ELA59/2816 arepending grant•Production royalties include $20/oz on existingresources with $8/oz on new open pit resourcesand $6/oz on new underground resources.
Explorationdone by otherparties	•Acknowledgment and appraisal of exploration byother parties.	•Thetenementareahasbeenpreviouslyexplored by numerous companies includingYinnex, WMC (Hill 50), Equigold, Harmony andRamelius.•Mining was carried out at Western Queen byEquigold from 1998 – 2002. This included someunderground mining below the open-cut pit.•Open cut mining was undertaken at WesternQueen South by Harmony Gold in 2007, and byRamelius in 2013 and 2014.
Geology	•Deposit type, geological setting and style ofmineralisation.	•The deposit type is orogenic shear zone hostedgold in Archaean greenstones of the YilgarnBlock.•The mineralised system at the Western Queenis hosted in sheared amphibolite. It is associatedwith sulphidic quartz veins and has an overallsteep WNW dip. The mineralisedzone isstrongly recrystallised and massive.
Drillholeinformation	•A summary of all information material to the understanding of the exploration results including atabulation of the following information for allMaterial drill holes:•easting and northing of the drill hole collar•elevation or RL (Reduced Level – elevationabove sea level in metres) of the drill hole collar•dip and azimuth of the hole•down hole length and interception depth•hole length•If the exclusion of this information is justified on thebasis that the information is not Material and this	•All exploration results have previously beencommunicated.•Allinformationhasbeenincludedintheappendices. No drill hole information has beenexcluded.

Criteria	JORC Code explanation	Commentary
	exclusion does not detract from the understandingof the report, the Competent Person should clearlyexplain why this is the case.
Dataaggregationmethods	•In reporting Exploration Results, weightingaveraging techniques, maximum and/or minimumgrade truncations (e.g. cutting of high grades) andcut-off grades are usually Material and should bestated.•Where aggregate intercepts incorporate shortlengths of high-grade results and longer lengths oflow grade results, the procedure used for suchaggregation should be stated and some typicalexamples of such aggregations should be shownin detail.•The assumptions used for any reporting of metal	•Exploration results are not being reported.•Not applicable as a Mineral Resource is beingreported.•Metal equivalent values have not been used.
Relationshipbetweenmineralisationwidthsandinterceptlengths	equivalent values should be clearly stated.•These relationships are particularly important in thereporting of Exploration Results.•If the geometry of the mineralisation with respect tothe drill hole angle is known, its nature should bereported.•If it is not known and only the down hole lengths arereported, there should be a clear statement to thiseffect (e.g. 'down hole length, true width notknown').	•The dip of the main gold mineralisation zone iswell documented - 75° dip to 290°•The true width of mineralisation is approximately70% of the drill-hole intersection. i.e. The truewidth of a down-hole intersection of 6m is 4.2m.
Diagrams	•Appropriate maps and sections (with scales) andtabulations of intercepts should be included for anysignificant discovery being reported. These shouldinclude, but not be limited to a plan view of drill holecollar locations and appropriate sectional views.	•Relevant diagrams have been included withinthe Mineral Resource report main body of text.
BalancedReporting	•Accuracy and quality of surveys used to locate drillholes (collar and down-hole surveys), trenches,mine workings and other locations used in MineralResource estimation.•Where comprehensive reporting of all ExplorationResults is not practicable, representative reportingof both low and high grades and/or widths shouldbe practiced toavoid misleading reporting ofExploration Results.	•All hole collars were surveyed in MGA94 Zone50 grid using differential GPS. Drill holes weredown-hole surveyed either with a Reflex multishot tool.•Exploration results are not being reported.
Othersubstantiveexplorationdata	•Other exploration data, if meaningful and material,should be reported including (but not limited to):geologicalobservations;geophysicalsurveyresults; geochemical survey results; bulk samples -size and method of treatment; metallurgical testresults; bulk density, groundwater, geotechnicaland rock characteristics; potential deleterious orcontaminating substances.	•AllinterpretationsforWesternQueenmineralisation are consistent with observationsmade and information gained during previousmining and recent drilling.
Further work	•The nature and scale of planned further work (e.g.tests for lateral extensions or depth extensions orlarge- scale step-out drilling).•Diagrams clearly highlighting the areas of possibleextensions,includingthemaingeologicalinterpretations and future drilling areas, providedthis information is not commercially sensitive.	•Further broad spaced drilling is planned to definethestructuralcontrolsandmineralisationpotential of the Project area. Further infill drillingwill be conducted prior to mining.•Refer to diagrams in the body of text within theMineral Resource report.

Section 3 Estimation and Reporting of Mineral Resources

Criteria	JORC Code explanation	Commentary
Databaseintegrity	•Measures taken to ensure that data has not beencorrupted by, for example, transcription or keyingerrors, between its initial collection and its use forMineral Resource estimation purposes.•Data validation procedures used.	•The data base has been systematically auditedby a Companygeologist.Original drillingrecords were compared to the equivalentrecords in the data base (where original recordswere available). Any discrepancies were notedandrectifiedbytheexternaldatabaseconsultant.•All drilling data has been verified as part of acontinuous validation procedure. Once a drillhole is imported into the data base a report ofthe collar, down-hole survey, geology, andassay data are produced. This is then checkedby a Company geologist and any correctionsarecompletedbytheexternaldatabaseconsultant.
Site visits	•Comment on any site visits undertaken by theCompetent Person and the outcome of thosevisits.•If no site visits have been undertaken indicatewhy this is the case.	•A site visit was previously conducted by anassociate of the Competent Person. The sitevisit included inspection of the geology, drillchips, the open pitsand the topographicconditions present at the site as well asinfrastructure.
Geologicalinterpretation	•Confidence in (or conversely, the uncertainty of)the geological interpretation of the mineraldeposit.•Nature of the data used and of any assumptionsmade.•The effect, if any, of alternative interpretations onMineral Resource estimation.•The use of geology in guiding and controllingMineral Resource estimation.•The factors affecting continuity both of grade andgeology.	•The confidence in the geological interpretationis considered to be good and is based onprevious mining historyand current drillingactivity. Visual confirmation of lode orientationshas been observed in outcrop and the WesternQueen open pits.•Geochemistry and geological logging havebeen used to assist identification of lithologyand mineralisation.•The deposit consists of steeply dipping lodeswithin a shear zone. Recent drilling by RTR hassupported and refined the model and thecurrent interpretation is considered robust.•Outcrops of mineralisation and host rocks withinthe open pits confirm the geometry of themineralisation.•Infill drilling has confirmed geological and gradecontinuity.
Dimensions	•The extent and variability of the Mineral Resourceexpressed as length (along strike or otherwise),plan width, and depth below surface to the upperand lower limits of the Mineral Resource.	•The Western Queen Mineral Resource areaextends over a north northeast strike length of2.2 km, has a thickness varying between 1 to 15m and includes the 520 m vertical interval from400 mRL to -120 mRL.
Estimationandmodellingtechniques	•The nature and appropriateness of the estimationtechnique(s)appliedand keyassumptions,including treatment of extreme grade values,domaining,interpolationparametersandmaximum distance of extrapolation from datapoints. If a computer assisted estimation methodwas chosen include a description of computersoftware and parameters used.•The availability of check estimates, previousestimates and/or mine production records andwhether the Mineral Resource estimate takesappropriate account of such data.•The assumptions made regarding recovery of byproducts.•Estimation of deleterious elements or other nongrade variables of economic significance (egsulphur for acid mine drainage characterisation).•In the case of block model interpolation, the blocksize in relation to the average sample spacingand the search employed.•Any assumptions behind modelling of selectivemining units.•Any assumptions about correlation between	•Usingparametersderivedfrommodelledvariograms, Ordinary Kriging ("OK") was usedto estimate average block grades in up to fourpasses using Surpac software. Linear gradeestimationwasdeemedsuitablefortheWestern Queen Mineral Resource due to thegeological control on mineralisation. Maximumextrapolation of wireframes from drilling was80m down-dip. This was equal to one drill holespacing in this region of the deposit. Maximumextrapolation was generally half drill holespacing.•The reported mined material for this estimate is555kt at 9.3g/t Au for 166,000oz at WesternQueen Central pit; and 295kt at 3.0g/t Au for28,600oz at Western Queen South pit (bothusing a 0.7g/t Au cut-off grade). The reportedunderground mined material at Western QueenCentral is 39kt at 12.3g/t Au for 15,300oz. Thesereported mined numbers for this estimate areconservative compared to actual productionfigures.•No recovery of by-products is anticipated.•Only Au was interpolated into the block model.

Criteria	JORC Code explanation	Commentary
	variables.•Description of how the geological interpretationwas used to control the resource estimates.•Discussion of basis for using or not using gradecutting or capping.•The process of validation, the checking processused, the comparison of model data to drill holedata, and use of reconciliation data if available.	•The Mineral Resource parent block dimensionsused were 10m NS by 5m EW by 5m verticalwith sub-cells of 0.625m by 0.625m by 0.625mand the block model was rotated to a strike of20° in order to alignwith the strike ofmineralisation. In addition, where grade controlspaced drilling was estimated, the estimationparent cell size was reduced to 5m NS by 2.5mEW by 2.5m vertical. The parent block sizedimension was selected on the results obtainedfrom Kriging Neighbourhood Analysis thatsuggested this was the optimal block size for thedataset.•For the Mineral Resource area, an orientated'ellipsoid' search was used to select data andadjusted to account for the variations in lodeorientations, however all other parameters weretaken from the variography. Up to four passeswere used for each domain. First pass had arange of 30m, with a minimum of 8 samples.For the second pass, the range was extendedto 60m, with a minimum of 4 samples. For thethird pass, the range was extended to 150m,with a minimum of 2 samples. A final pass wasused to estimate the remaining unestimatedblocks. A maximum of 16 samples was used forall passes, with a maximum of 6 samples perhole.•Only Au assay data was available, thereforecorrelation analysis was not possible.•Within the Mineral Resource area, the depositmineralisation was constrained by wireframesconstructed using a 0.3g/t Au cut-off grade inLeapfrogsoftware.Thewireframeswereapplied as hard boundaries in the estimate.•Statistical analysis was carried out on data from47 lodes. The moderate to high coefficient ofvariation and the scattering of high-grade valuesobserved on the histogram for some of thedomains suggested that high grade cuts wererequired if linear grade interpolation was to becarried out. As a result, variable high-grade cutsbetween 10g/t and 70g/t Au were applied,resulting in a total of 81 composites being cut.•Validationofthe modelincludeddetailedcomparison of composite grades and blockgrades by strike panel and elevation. Validationplots showed good correlation between thecomposite grades and the block model grades.
Moisture	•Whether the tonnages are estimated on a dry	•Tonnages and grades were estimated on a dry
	basis or with natural moisture, and the method ofdetermination of the moisture content.	in situ basis.
Cut-offparameters	•The basis of the adopted cut-off grade(s) orquality parameters applied.	•The Mineral Resource has been reported at0.5g/t Au cut-off above the 245mRL for open pitmining and at a 1.5g/t Au cut-off below the245mRL for underground mining. The 245mRLis the maximum depth of the Western QueenCentral mined pit. In addition, pit optimisationwork conducted by consultant mining engineerssupports this approach.•The reporting cut-off parameters were selectedbased on assumed economic cut-off grades forthe Project.
Miningfactorsor assumptions	•Assumptions made regarding possible miningmethods,minimumminingdimensionsandinternal (or, if applicable, external) mining dilution.It is always necessary as part of the process ofdetermining reasonable prospects for eventualeconomic extraction to consider potential mining	•The deposit has previously been mined usingselective open pit mining methods and smallscale underground development.

Criteria	JORC Code explanation	Commentary
	methods, but the assumptions made regardingmining methods and parameters when estimatingMineral Resources may not always be rigorous.Where this is the case, this should be reportedwith an explanation of the basis of the miningassumptions made.
Metallurgicalfactorsorassumptions	•Thebasisforassumptionsorpredictionsregarding metallurgical amenability. It is alwaysnecessary as part of the process of determiningreasonable prospects for eventual economicextraction to consider potential metallurgicalmethods,buttheassumptionsregardingmetallurgicaltreatmentprocessesandparametersmadewhenreportingMineralResources may not always be rigorous. Wherethis is the case, this should be reported with anexplanation of the basis of the metallurgicalassumptions made.	•Metallurgical test work was undertaken byprevious operators.•Historic production has demonstrated that goodgoldrecoverycanbeexpectedfromconventional processing methods.•The average processing recovery used for the pitoptimisations was 93%, which is supported byactual production.
Environmentalfactorsorassumptions	•Assumptions made regarding possible waste andprocess residue disposal options. It is alwaysnecessary as part of the process of determiningreasonable prospects for eventual economicextraction to consider the potential environmentalimpacts of the mining and processing operation.While at this stage the determination of potentialenvironmentalimpacts,particularlyforagreenfields project, may not always be welladvanced, the status of early consideration ofthese potential environmental impacts should bereported. Where these aspects have not beenconsidered this should be reported with anexplanation of the environmental assumptionsmade.	•The previous mining operation included thedevelopment of mine infrastructure includingwaste dumps and haul roads.•The area is not known to be environmentallysensitive and there is no indications that furtherdevelopments may not be approved in thefuture.
Bulk density	•Whether assumed or determined. If assumed, thebasis for the assumptions. If determined, themethod used, whether wet or dry, the frequencyof the measurements, the nature, size andrepresentativeness of the samples.•The bulk density for bulk material must have beenmeasured by methods that adequately accountfor void spaces (vugs, porosity, etc), moisture anddifferences between rock and alteration zoneswithin the deposit.•Discuss assumptions for bulk density estimatesused in the evaluation process of the differentmaterials.	•Bulk densities ranging between 1.9t/m3 and2.87t/m3 were assigned in the block modeldependent on lithology and weathering. Thesebulk densities were derived from measurementsobtainedfromRTR'scollectionof171measurements from core samples and rocksamples in the pit area. The rock samples weresealed using beeswax prior to weighing inwater.
Classification	•The basis for the classification of the MineralResources into varying confidence categories.•Whether appropriate account has been taken ofall relevant factors (ie relative confidence intonnage/grade estimations, reliability of inputdata, confidence in continuity of geology andmetal values, quality, quantity and distribution ofthe data).•Whether the result appropriately reflects theCompetent Person's view of the deposit.	•The Mineral Resource estimate is reported herein compliance with the 2012 Edition of the'Australasian Code for Reporting of ExplorationResults, Mineral Resources and Ore Reserves'by the Joint Ore Reserves Committee (JORCThe Western Queen Mineral Resource wasclassified as Indicated and Inferred MineralResource based on data quality, samplespacing, and lode continuity. The IndicatedMineral Resource is based on mostly 25mspaced sections and 20m hole spacings onsection. Areas of the block model that areinformed by composites at more than 25mspacings, or areas of extrapolation or smallerlodes with limited continuity, are classified asInferred Mineral Resource. Extrapolation hasbeen limited to 80m along strike and down dipbut is generally a maximum of 40 to 50m.•The input data is comprehensive in its coverageof the mineralisation and does not favour ormisrepresentin-situmineralisation.Thedefinition of mineralised zones is based on highlevel geological understanding producing arobust model of mineralised domains.This

Criteria		JORC Code explanation	Commentary
			model has been confirmed by drilling andobservations in the open pit, which supportedthe interpretation. Validation of the block modelshows good correlation of the input data to theestimated grades.•The Mineral Resource estimate appropriatelyreflects the view of the Competent Person.
Auditsreviews	or	•The results of any audits or reviews of MineralResource estimates.	•InternalauditshavebeencompletedbyAshmore and RTR which verified the technicalinputs, methodology, parameters and results ofthe estimate.
Discussionrelativeaccuracy/confidence	of	•Where appropriate a statement of the relativeaccuracy and confidence level in the MineralResourceestimateusinganapproachorprocedure deemed appropriate by the CompetentPerson. For example, the application of statisticalor geostatistical procedures to quantify therelative accuracy of the resource within statedconfidence limits, or, if such an approach is notdeemed appropriate, a qualitative discussion ofthe factors that could affect the relative accuracyand confidence of the estimate.•The statement should specify whether it relates toglobal or local estimates, and, if local, state therelevant tonnages, which should be relevant totechnicalandeconomicevaluation.Documentationshouldincludeassumptionsmade and the procedures used.•These statements of relative accuracy andconfidence of the estimate should be comparedwith production data, where available.	•The lode geometry and continuity has beenadequately interpreted to reflect the appliedlevelofIndicatedandInferredMineralResource. The data quality is good and the drillholes have detailed logs produced by qualifiedgeologists. A recognised laboratory has beenused for all analyses.•The Mineral Resource statement relates toglobal estimates of tonnes and grade.•The reported mined material for this estimate is555kt at 9.3g/t Au for 166,000oz at WesternQueen Central pit and 295kt at 3.0g/t Au for28,600oz at Western Queen South pit (bothusing a 0.7g/t Au cut-off grade). The reportedunderground mined material at Western QueenCentral is 39kt at 12.3g/t Au for 15,300oz. Thesereported mined numbers for this estimate areconservative compared to actual productionfigures.