S2 RESOURCES LTD — Capital/Financing Update 2017

Jul 31, 2017

ASX Announcement

1 August 2017

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THREE NEW GOLD PROPERTIES IN NEVADA, USA

& INVESTMENT IN GT GOLD, B.C., CANADA

Key points

• Agreement with Renaissance Gold – a TSXV listed company - to earn a 70% interest in three highly prospective gold exploration properties situated on major mineralised trends in Nevada, USA

• Renaissance Gold specialises in generating prospects and joint venturing these with larger partners at the drilling stage and its personnel have been involved in several significant discoveries, including the Long Canyon deposit, ultimately bought by Newmont for US$2.3 billion

• Delivers to S2 several drill-ready, Carlin-style gold targets defined by geology, geophysics and geochemistry, located in compact land packages:

• The Ecru property is located adjacent to Barrick Gold’s giant CortezPipeline-Goldrush deposit cluster (~50 million ounces of gold)

• The Pluto property has up to 13.1g/t gold in outcrop, despite the main target zone (most receptive host rocks) interpreted to be at greater depth

• The South Roberts property comprises a Carlin-style target located under cover and along trend from several world class Carlin-type gold deposits

• On each property S2 must spend a minimum of US$200k within two years and, can earn a 70% interest by spending US$3 million within 5 years

• S2 invests C$1 million in GT Gold – a TSXV listed company and owner of the new high grade Saddle gold discovery in the Golden Triangle of British Columbia

S2 Resources Ltd (“S2” or the “Company”) advises that it has entered into an agreement with Renaissance Gold Inc (“RenGold”), a TSXV listed company with offices in Reno, Nevada, to earn in to three of RenGold’s properties located on some of the major known gold mineralized trends in Nevada, USA (see Figure 1).

North Wing, Level 2, 1 Manning Street, Scarborough WA 6019, Australia PO Box 1059 Scarborough WA 6922, Australia ABN 18 606 128 090 T +61 8 6166 0240 F 61 8 6241 4299 E admin@s2resources.com.au W www.s2resources.com.au

S2 has also made a C$1 million investment in GT Gold, a TSXV listed company that owns the high grade Saddle gold discovery in the Golden Triangle of British Columbia, Canada (details are provided at the end of this announcement).

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Figure 1. Location of properties, showing major deposits and mineralized trends in Nevada.

Each property is subject to the same earn-in terms and structure to provide S2 with the ability to rapidly and effectively test each property, and also the flexibility to either commit or move on based on outcomes. More details of the transaction are provided below.

S2’s Managing Director Mark Bennett said “After a patient search for high quality exploration opportunities in favoured jurisdictions we are pleased to have reached agreement to earn into these very compelling projects. Each property comprises a compact land package with well-defined and thought out drill-ready targets. Some of these targets are deep but their potential scale is very significant. The drill-ready nature of these opportunities complements the longer term strategic value we believe we can add to our other exploration projects in Sweden and Finland”.

“Importantly, the deal structure enables us to drill test and either earn-in or move on to new targets. It is a good fit for both parties because it matches S2’s exploration capability and capacity with RenGold’s proven expertise in defining and discovering significant gold mines in an established mining friendly state. We are looking forward to working with Rengold and plan to hit the ground running”.

About the transaction

The transaction provides S2 with earn-in rights over three separate properties, each on similar terms. It is structured to give S2 the flexibility to focus its drilling where most appropriate, proceed and spend at a rate of its choosing, and ensure that it has the optionality of persisting or moving on once it has adequately tested each property, whilst ensuring that Rengold has a variety of its targets drilled to maximize the chances of success. It is also structured to provide Rengold with the optionality of actively or passively participating on a project by project basis through either contributing, diluting, or reverting to a royalty. Key terms are as follows:

• One off payment of US$75,000 on signing (ie US$25,000 per property)

• Minimum spend of US$200,000 within 2 years on each property, and ability to earn a 70% interest for expenditure of US$3 million within 5 years on each property

• If/when S2 earns in, Rengold can participate in exploration programs or dilute its interest, and if Rengold dilutes its interest below 10%, it reverts to a net smelter return royalty

• If still participating (ie, above 10%) at the time of a decision to mine, Rengold can participate at its future interest level or revert to a net smelter return royalty

The transaction is subject to customary and largely confirmatory conditions precedent, to be satisfied within 30 days.

About Renaissance Gold

Renaissance Gold Inc. (RenGold) is a TSXV listed gold/silver exploration company that has a large portfolio of exploration projects in Nevada and Utah. RenGold’s objective is to place its projects in exploration earn-in agreements with industry partners who provide exploration funding. RenGold applies the extensive exploration experience and high-end technical skills of its founders and team members to search for and acquire new precious metal exploration projects that are then offered for joint venture. The RenGold team has been involved in the discovery of several major gold mines in Nevada through the course of their careers, including Twin Creeks (15 million ounces), Lone Tree (5 million ounces) and Long Canyon (3 million ounces), among others. Currently, Rengold has several properties under option to major gold mining companies including Kinross and Anglogold Ashanti.

The “prospect generator” business model used by RenGold is well established in North America, where such companies use their in-house expertise to define, stake, and undertake preliminary exploration of properties to define drill-ready targets, which are then farmed out. Prospect generator companies benefit by cash payments, royalties or direct participation in future mining projects, with minimal need to issue capital to fund themselves.

About Carlin-style gold deposits

Carlin-style gold deposits are a distinctive style of gold deposit that is very different from the Archaean lode gold deposits of the Yilgarn Craton of Western Australia and the Abitibi Belt of Canada, the Proterozoic lode gold deposits of the Birimian of West Africa and the Central Lapland Greenstone Belt of Finland, and the Palaeozoic slate belt deposits of Victoria.

Carlin-style mineralization is relatively young in age (34-42 Ma (Eocene)) and formed by the alteration and replacement of carbonate rocks by gold-bearing hydrothermal fluids. The host carbonates are often hidden beneath less favourable and impermeable rocks that have been thrust over them. The footwall sequence containing the receptive carbonates is termed the “lower plate” and the overlying sequence comprising less receptive host rocks is termed the “upper plate”.

The overthrust upper plate rocks act like a seal above an oil reservoir, and gold-bearing hydrothermal fluids that have migrated up adjacent faults are trapped in the receptive carbonates. Carlin-style gold deposits occur in altered carbonates in and adjacent to these faults and also where these gold-bearing fluids have ponded beneath the upper plate seal or other impermeable barriers, particularly in structures such as anticlines, very much like oil. Mineralization can also occur in and around the fault zones themselves, and may even occur in the less favourable rocks of the upper plate where these structures pierce it.

This process is evidenced by the presence of silicification of the carbonates and the development of jasperoids (iron oxide-bearing silica alteration), often accompanied by strong gold, silver, mercury, antimony, bismuth, thallium and arsenic anomalism, and can lead to the creation of very large (>10 million ounce) and often high grade (>15g/t) gold deposits. The gold is usually very fine grained and metallurgically refractory but is commonly treated using pressure oxidation prior to conventional cyanide leaching with good recoveries.

In addition to the above, recent detailed sequence stratigraphy analysis of the carbonates has highlighted the importance of specific sedimentary environments and facies within the carbonate host rocks that are more porous and therefore particularly favourable sites for gold mineralization. This has expanded areas of prospectivity both within the main trends and in other non-conventional environments in areas not previously considered prospective.

The Nevada properties

Ecru

The Ecru project is located 40 kilometres southeast of Battle Mountain in Lander County, Nevada. It is located in the heart of the highly endowed Battle Mountain–Eureka trend (see Figure 1), adjacent to Barrick’s Pipeline, Cortez Hills and Goldrush deposits which have a collective gold endowment of approximately 50 million ounces.

The project is situated in an area covered by a veneer of transported colluvium (“pediment”) and is centered on a large gravity high that is interpreted to represent an upthrown block of the same carbonate rocks that host the nearby world class deposits (see Figure 2).

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Figure 2. Summary map showing location of Ecru property, known mines, the projection of the Cortez Fault (a control on the Cortez Hills gold deposit), the projection of the Abyss Thrust (a control on the Pipeline gold deposit), a gravity high potentially representing concealed basement rocks in the hanging wall of the Abyss Thrust, and the boundary between those rocks exposed in the ranges and those concealed by pediment gravels.

Historic drilling by third parties on adjacent parts of the same gravity high has yielded significant gold mineralization in both the favourable carbonate rocks of the lower plate and the less favourable upper plate sequence, with one upper plate sample in excess of 1oz/t gold. Geochemical sampling of the pediment has also defined an anomaly within the transported colluvium overlying this gravity anomaly.

Additionally, the project is interpreted to contain geology analogous to that at Barrick’s Pipeline deposit, which occurs where lower plate carbonates have been thrust over the upper plate sequence, with the receptive carbonate host rock and mineralization being exhumed (exposed) by partial erosion of the overlying rocks, before being buried beneath more recent transported colluvium (see Figure 3).

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Figure 3. Schematic cross section showing the target concept for Ecru, based on the controls on mineralization at Pipeline/Gold Acres (after Leonardson, 2010). Mineralization is focused in receptive host rocks of the lower plate (“Dw”, pale blue), which is part of a sequence that has been thrust over the sealing cap rock of the upper plate (“Ov”, purple), then partially exhumed by erosion to remove the cap rock, and finally covered by transported colluvium (“Co”, beige).

Pluto

The Pluto project is located 50 kilometres north of Austin in Lander County, Nevada, on the northsouth “Rabbit trend” of gold deposits (see Figure 1).

The target at Pluto comprises a gravity anomaly interpreted to represent an uplifted block (“horst”) containing stratigraphy known to be receptive to gold mineralization (see Figure 4). This uplifted block is exposed where overlying Tertiary volcanic rocks have been eroded to reveal the Havallah Formation, which is the impermeable caprock located immediately above, and sealing, the target receptive carbonate lithologies of the Antler sequence, which host world class gold deposits in the Battle Mountain district 90 kilometers to the north (see Figure 5).

The central part of the exposed Havallah sequence contains an outcrop of mineralized jasperoid (a characteristic sign of Carlin-style alteration and mineralization), interpreted to represent hydrothermal leakage along faults upwards from the deeper receptive carbonate units of the Antler sequence into the less favourable overlying caprock (see Figure 6).

Rock chip samples of this outcrop collected by S2 personnel assay up to 6g/t gold and 67g/t silver, and are strongly anomalous in other characteristic “Carlin suite” elements (arsenic, barium, mercury, antimony) plus bismuth, selenium and tellurium, and samples collected by RenGold assay up to 13.1g/t gold. Geochemical soil sampling within the erosional window also defines a coherent, coincident Carlin-style suite anomaly over the central part of the exposed Havallah sequence (see Figure 7).

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Figure 4. Summary map showing the gravity high interpreted to represent an uplifted basement horst, the erosional window through the Tertiary volcanic rocks (“Tv”) exposing the Havallah Formation (“MPh”, the rock interpreted to be the impermeable cap rock above the target carbonate host rocks of the Antler sequence), and the outcropping gold mineralization within the cap rock (potential “leakage” from mineralization in the more receptive host rocks at depth).

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Figure 5. Schematic cross section of the target concept at Pluto, showing the uplifted basement Horst, bounding faults, receptive carbonate host rocks (Antler sequence “Ipb” “IPPap” and “Pem”), sealed and obscured by Havallah Formation cap rock (“MPh”), exposed in an erosional window through the mantling Tertiary volcanic rocks (“Tv”), with outcropping “leakage” mineralization and potential mineralization at depth along faults and within the receptive carbonate sequence (red).

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Figure 6. Jasperoid outcrop with 6g/t gold and 67g/t silver in what is considered the less favourable caprock stratigraphy (Havallah Formation). The more receptive carbonate host rock (Antler sequence) is interpreted to underlie this unit, and the mineralized jasperoid may be “leakage” indicative of mineralization at depth within the more favourable carbonate unit.

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Figure 7. Soil geochemical signature within the erosional window through the surrounding Tertiary volcanic rocks that exposes the unit interpreted as the cap rock (Havallah Formation “MPh”) that overlies the target carbonate unit (the Antler sequence). Gold, arsenic and antimony (together with mercury and other elements not shown) are a classic geochemical signature of Carlin-style mineralization.

The presence of Carlin-style anomalism in soils and Carlin-style mineralization in outcrop, within what is considered the unfavourable caprock sequence above a known favourable carbonate hostrock is considered to be a very positive indicator of the prospectivity of the underlying receptive carbonate sequence for hosting Carlin-style gold mineralization. This, together with the absence of any previous effective drilling, makes Pluto a very compelling target.

South Roberts

The South Roberts project is located in Eureka County, Nevada, 35 kilometres northwest of Eureka. It is located on the Battle Mountain–Eureka trend of world class gold deposits (see Figure 1) and on the western margin of the northern Nevada rift in a very similar setting to Barrick’s Goldrush deposit to the north.

The project covers the southern extension of an uplifted block containing known gold mineralization that plunges southwards beneath transported colluvium (pediment) as evidenced by a gravity anomaly (see Figure 8) and confirmed by a six hole first pass drilling program conducted in 2014.

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Figure 8. Summary map showing location of property, gravity high (interpreted to represent uplifted basement horst plunging southward beneath the cover of the pediment gravels), and location of known mineralization (where the basement is exposed).

Within this area, several targets have been defined by northwest trending structures (considered a key ingredient in the formation of Carlin-style gold deposits) with coincident Carlin-style geochemical anomalism in the overlying pediment (ie, coincident elevated gold, silver, arsenic, antimony, mercury and thallium see Figure 9).

The previous first pass drilling program comprised six wide (~1 kilometre) spaced holes drilled through the pediment and into expected lithologies – namely the appropriate “caprock” to act as a seal, and favourable receptive carbonate host rock unit beneath it (see Figure 9). The lithologies intersected in

this drilling also contain textures indicative of hydrothermal activity (solution collapse breccias) and anomalous gold (up to 0.28g/t).

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Figure 9. Schematic cross section showing target concept. Previous drilling intersected favourable lower plate host rocks (blue) beneath the upper plate caprock on the flanks of the interpreted Horst and/or anticline, all beneath the transported gravels of the pediment. The target zone lies between these holes and immediately beneath the classic partial leach “rabbit ear” anomaly, which comprises a classic Carlin-style element suite.

Two of these holes targeted the twin gold peaks observed in partial leach geochemical sampling of the colluvium, and intersected gold both in the cap rock and in the favourable host carbonate beneath it, in a position subsequently interpreted to be on the flanks of an anticline (see Figure 9). However, in partial leach geochemistry, anomalies classically form either side of the source, and not directly above it in a pattern known as a rabbit ear anomaly. Theoretically, the source of the anomaly (and the best part to drill) is located directly beneath the dead spot between the two flanking highs. This position coincides with the crest of an interpreted anticline in an untested position midway between these two holes, representing an obvious drill testable target (see Figure 9).

About Nevada

The state of Nevada is rated as the 4[th] best mining jurisdiction in the world in the latest Fraser Institute ranking (2016) and is the 5[th] largest gold producing district in the world, with an estimated endowment of over 360 million ounces. Most of this is associated with Carlin-style mineralization, although many epithermal deposits also exist.

There are numerous large Carlin-style deposits including Carlin itself Goldstrike (Betze-Post-Miekle), Gold Quarry, Pipeline, Cortez Hills, Goldrush, Jerritt Canyon, Leeville, Getchell-Turquoise Ridge and Twin Creeks.

Many of these deposits are greater than 10 million ounces and some cluster in camps containing over 50 million ounces. Most of these deposits are aligned on several trends, including the Carlin trend, the Battle Mountain-Eureka trend, and the Getchell trend. Some newer discoveries, such as Long Canyon, have been made in non-conventional areas and settings off these trends.

As a major gold and silver producing state, Nevada is well appointed with mining-related goods, services and expertise, and has a well defined and relatively mining friendly legal framework.

Geographically, the region is known as the Basin and Range Province – a high desert region comprising north-south trending mountain ranges and valleys. The ranges reach heights of between 2,400 to 4,000 metres and are separated by broad valleys filled with colluvial gravels eroded from the adjacent ranges (“pediment”). Exploration is possible year round in all but the highest ranges.

GT Gold investment

S2 invested C$1 million in TSXV listed gold explorer GT Gold (TSXV: GTT) via a placement at C$0.32 per share on 26[th] April 2017. GTT announced a high grade gold discovery at its Saddle property, situated in an area of British Columbia known as the Golden Triangle, on 25[th] July 2017. The Golden Triangle hosts a number of world class gold deposits including Eskay Creek (formerly mined by Barrick) and the new 7 million ounce Brucejack mine (being developed by Pretivm). Refer to GT Gold’s website (www.gtgoldcorp.ca) and news releases for further information on the discovery and the company.

For further information, please contact:

Mark Bennett Tony Walsh Managing Director Company Secretary +61 8 6166 0240 +61 8 6166 0240

Competent Persons statement

The information in this report that relates to Exploration Results is based on information compiled by Anthony Brendon Goddard, who is an employee and shareholder of the Company. Mr Goddard is a member of the Australian Institute of Geoscientists and a Registered Professional Geoscientist (RPGeo). Mr Goddard has sufficient experience of relevance to the style of mineralization and the types of deposits under consideration, and to the activities undertaken, to qualify as Competent Persons as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Goddard consents to the inclusion in this report of the matters based on information in the form and context in which it appears.

SECTION 1 SAMPLING TECHNIQUES AND DATA

Criteria	JORC Code explanation	Commentary
Sampling techniques	Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling.	Rock chip samples were collected by random chip sampling with a geological hammer of about fist size material to make a collective sample weight of about 2-3kg
	Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used	Rock material that comprised the samples were selected randomly without bias to material appearance to give an accurate representation of the sample being collected.
	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	Samples were dried and pulverised (total prep) and were analysed using an aqua regia digest ICP/OES and ICP/MS (Code AR0531) and by fire assay with an AAS finish (Code FA50AAS). The following elements are included in the assay suite: Ag, Al, As, Au, Ba, Be, Bi, Ca, Cd, Ce, Co, Cr, Cu, Fe, K, La, Mg, Mn, Mo, Na, Ni, P, Pb, Sb, Sc, Sr, Te, Ti, Tl, V, W, Zn.
Drilling techniques	Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face- sampling bit or other type, whether core is oriented and if so, by what method, etc).	Not applicable - No drilling has been undertaken by S2 Resources Ltd.
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed	Not applicable - No drilling has been undertaken by S2 Resources Ltd.
	Measures taken to maximise sample recovery and ensure representative nature of the samples	Not applicable - No drilling has been undertaken by S2 Resources Ltd.
	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.	Not applicable - No drilling has been undertaken by S2 Resources Ltd.
Logging	Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.	All rock samples were described geologically detailing lithology and alteration, and any veining and structural information.

Criteria	JORC Code explanation	Commentary
	Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.	Rock chip sampling information is both qualitative and quantitative in nature depending on the field being captured. All material sampled was photographed.
	The total length and percentage of the relevant intersections logged	Not applicable.
Sub-sampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken.	Not applicable - No drilling has been undertaken by S2 Resources Ltd.
	If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.	Not applicable - No drilling has been undertaken by S2 Resources Ltd.
	For all sample types, the nature, quality and appropriateness of the sample preparation technique.	The sample preparation follows industry best practice in sample preparation All samples are pulverised utilising Essa LM1, LM2 or LM5 grinding mills determined by the size of the sample. Samples are dried, crushed as required and pulverized to produce a homogenous representative sub-sample for analysis. A grind quality target of 85% passing 75μm has been established and is relative to sample size, type and hardness.
	Quality control procedures adopted for all sub- sampling stages to maximise representivity of samples.	Laboratory Quality control procedures include submission of Certified Reference Materials (CRM’s), blanks and duplicate samples with each batch of samples. Selected samples are also re-analysed to confirm anomalous results. Grind size checks are routinely completed to ensure samples meet the industry standard of 85% passing through a 75µm mesh.
	Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling.	No field duplicates were collected. Samples are selected to weigh less than 3kg to ensure total preparation at the pulverisation stage.
	Whether sample sizes are appropriate to the grain size of the material being sampled.	Sample sizes are considered appropriate for gold mineralisation.
Quality of assay data and laboratory tests	The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.	Samples were dried and pulverised (total prep) and were analysed using an aqua regia digest ICP/OES and ICP/MS (Code AR0531) and by fire assay with an AAS finish (Code FA50AAS). The following elements are included in the assay suite: Ag, Al, As, Au, Ba, Be, Bi, Ca, Cd, Ce, Co, Cr, Cu, Fe, K, La, Mg, Mn, Mo, Na, Ni, P, Pb, Sb, Sc, Sr, Te, Ti, Tl, V, W, Zn. The analyses were undertaken by a Quality Certified laboratory and are of the highest industry standards. The analyses are considered appropriate for the nature of the rock material. The technique is considered near total given the nature of the rock material analysed.
	For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.	Not applicable.

Criteria	JORC Code explanation	Commentary
	Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.	Sample preparation checks for fineness were carried out by the laboratory as part of their internal procedures to ensure the grind size of 85% passing 75 micron was being attained. Laboratory QAQC involves the use of internal lab standards using certified reference material, blanks, splits and replicates as part of the in house procedures.
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel.	The Competent Person of this announcement and the Exploration Manager of S2 has visually verified the results.
	The use of twinned holes.	Not applicable - No drilling has been undertaken by S2 Resources Ltd.
	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.	Primary data was recorded into a field notebook and then transferred to an Excel templates. The information was sent to an external database consultant for validation and compilation into a Perth based SQL database.
	Discuss any adjustment to assay data.	No adjustments or calibrations were made to any assay data reported.
Location of data points	Accuracy and quality of surveys used to locate drillholes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.	Sample sites were recorded by a Garmin handheld GPS with an accuracy about +/– 4m for easting and northing.
	Specification of the grid system used.	The grid system used was NAD 27 Zone 11.
	Quality and adequacy of topographic control.	No controls were utilized and are not deemed important.
Data spacing and distribution	Data spacing for reporting of Exploration Results.	Not applicable.
	Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.	Not applicable.
	Whether sample compositing has been applied.	Not applicable.
Orientation of data in relation to geological structure	Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.	Not applicable.
	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.	Not applicable.
Sample security	The measures taken to ensure sample security.	Chain of custody is managed by S2 Resources. Samples are stored on site and either delivered by S2 personnel to Perth and then to the assay laboratory, Tracking sheets have been set up to track the progress of batches of samples.
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	Not applicable.

SECTION 2 REPORTING OF EXPLORATION RESULTS

Criteria	JORC Code explanation		Commentary
Mineral tenement and land tenure status	Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.		S2 Resources Ltd, through its subsidiary Nevada Star Exploration LLC, is earning into the following mineral tenure via an agreement with Kinetic Gold (US) Inc and its parent company Renaissance Gold Inc. (“RenGold”) Ecru Kinetic Gold (US) Inc (a wholly-owned subsidiary of Rengold) holds an Option to Purchase under the Ivy Option Agreement 112 Mineral Claims (NMC1098847–1098958) held by Ivy Minerals Inc within Lander County, NV. Pluto Kinetic Gold (US) Inc (a wholly-owned subsidiary of Rengold) holds 26 Mineral Claims (NMC1098837–1098846; NMC1188192–1108207) within Lander County, NV. Kinetic Gold (US) Inc (a wholly-owned subsidiary of Rengold) holds a Lease and Option to Purchase under the Landsgold #1 Agreement the Landsgold #1 Claim (NMC979270) from SepTech and Lu Anne Odt within Lander County, NV South Roberts Kinetic Gold (US) Inc (a wholly-owned subsidiary of Rengold) holds 60 Mineral Claims (NMC1080648–1080681; NMC1080684-1080698; NMC1080700-1080711) within Eureka County, NV. Kinetic Gold (US) Inc (a wholly-owned subsidiary of Rengold) holds a Lease and Option to Purchase under the RW Agreement 29 Mineral Claims (NMC1029818-1029829; NMC1029846-854; NMC1029878-885) from Harvest Gold Corp (US) within Eureka County, NV. All are subject to certain confidential royalty agreements, payable by Nevada Star Exploration LLC to Kinetic Gold (US) Inc and third parties Based on a due diligence process, no commercial, historical, native title, heritage or environmental impediments are known
	The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.		Based on a due diligence process, the claims are in good standing and no known impediments exist on tenement actively explored.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.		Ecru Ivy Minerals, in JV partnership with Kinetic Gold (US) Inc (now a wholly-owned subsidiary of RenGold), completed enzyme leach and gravity surveying over the property. From the limited data available, it is possible that one historic Barrick RC drill hole was completed on the property at an unknown time, though the exact location and existence or effectiveness of this drill hole is unconfirmed. Pluto Previous exploration comprising enzyme leach and conventional soil geochemistry, rock chip sampling and gravity surveying completed by Kinetic Gold (US) Inc (now a wholly-owned subsidiary of Rengold). Two RC holes about 100m deep were previously completed by an unknown party at an unknown location within the property, however these holes have not able to be located on the ground and no data appears to have been preserved. This drilling is considered ineffectual and not relevant due to the shallow depths of the holes. South Roberts Previous exploration comprising enzyme leach soil geochemistry and gravity surveying was completed by Kinetic Gold (US) Inc (now a wholly-owned subsidiary of Rengold). Under JV with Kinetic Gold in 2014, McEwan Mining Nevada completed six wide-spaced (~1km) drill holes (2 diamond and 4 RC) totalling 2,188m. The data for the drilling has been reviewed but the drill holes and the core of the two diamond drill holes have not been sited.

Criteria	JORC Code explanation	Commentary
Geology	Deposit type, geological setting and style of mineralisation.	The projects are located within the Great Basin of Nevada and the deposit type being explored consists of the Carlin-style which comprises fine-grained disseminated replacement sulphide (pyrite) mineralisation in zones of silicified, decarbonatised, argillised, silty calcareous rocks and associated jasperoids. The mineralisation is hosted within Palaeozoic carbonate and siliciclastic sedimentary rocks which were deposited in a marine setting ranging from deep to shallow water on a former western continental margin of North America. These units were deformed by the Antler Orogeny and later intruded by felsic bodies of varying ages. The age of the mineralisation is Eocene and ranges between 34-42 Ma. Later faulting developed the distinctive ‘Basin and Range’ topography of the area.
Drill hole Information	A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes:  easting and northing of the drill hole collar  elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar  dip and azimuth of the hole  down hole length and interception depth  hole length.	Not applicable - No drilling has been undertaken by S2 Resources Ltd.
Data aggregation methods	In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated.	Not applicable.
	Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.	Not applicable.
	The assumptions used for any reporting of metal equivalent values should be clearly stated.	Not applicable.
Relationship between mineralisation widths and intercept lengths	These relationships are particularly important in the reporting of Exploration Results. If the geometry of the mineralisation with 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 length, true width not known’).	Not applicable.
Diagram	Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	All Figures are contained in the body of the text.
Balanced reporting	Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	Not applicable.

Criteria	JORC Code explanation	Commentary
Other substantive exploration data	Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; 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.	No other exploration data collected to date is considered material or meaningful at this stage.
Further work	The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling). Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive	At the Ecru property, additional infill gravity and enzyme leach geochemical sampling is planned prior to diamond drilling. At the Pluto property, RC and diamond drilling will be undertaken to test for the source of the mineralization sampled at surface within the postulated favourable host lithologies at depth. At the South Roberts property, additional infill gravity and enzyme leach geochemical sampling is planned prior to diamond drilling.