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SKY METALS LIMITED Capital/Financing Update 2018

Nov 21, 2018

65807_rns_2018-11-21_a14fc19e-8c32-434b-b7ad-8fea216cdb30.pdf

Capital/Financing Update

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22 November 2018

The Manager Companies ASX Limited 20 Bridge Street SYDNEY NSW 2000

(26 pages by email)

Dear Madam,

PLANET GAS LIMITED TO ACQUIRE HIGH QUALITY TIN-TUNGSTEN FOCUSED PROJECTS

HIGHLIGHTS

  • Planet Gas Limited, to be renamed Sky Metals Limited, (the Company) has entered into a binding heads of agreement to acquire Big Sky Metals Pty Ltd (BSM).

  • BSM holds a 100% interest in exploration tenements containing historical mines and workings which are prospective for tin-tungsten in New South Wales (BSM Projects).

  • The Company aims to undertake a two year exploration program, with an initial focus on high-grade tin and tungsten.

  • Acquisition consideration will consist of 70 million ordinary shares in the Company and 20 million options, following a ten (10) for one (1) share consolidation

  • The acquisition is to occur simultaneously with the conversion of outstanding debts to 14,260,825 post-consolidation shares.

  • The Transaction will refresh the Company’s Board with the appointment of a new director and seek to appoint a high calibre Managing Director.

  • The Company will issue a Prospectus to raise up to $4,500,000 (Public Offer).

  • The Transaction is subject to conditions, including Company shareholder approval and the Company’s re-compliance with Chapters 1 and 2 of the ASX Listing Rules.

Planet Gas Limited (ASX: PGS) ( Company ) is pleased to announce that it has signed a Binding Terms Sheet ( Agreement ) with Big Sky Metals Pty Ltd ( BSM ) under which the Company will acquire 100% of the issued shares in BSM from the BSM shareholders ( Vendors ) for the purposes of acquiring a 100% interest in two tin-tungsten exploration tenements in NSW ( BSM Projects or Projects ) (the Transaction ).

The BSM Projects are highly prospective Exploration Licences in NSW which include historical mines and workings prospective for tin and tungsten. The Company considers the BSM Projects to be a suite of attractive exploration and development assets.

As part of the Transaction, the Company intends to complete a 10 for 1 share consolidation, raise $4.5 million pursuant to an offer under a prospectus and convert outstanding debts into 14,260,825 post-consolidation shares. Funds raised will be spent on an exploration program regarding the Projects.

Planet Gas Limited[ ABN][ 46 098 952 035]

Level 2, 66 Hunter Street Sydney NSW 2000 Australia T +61 2 9300 3322 F +61 2 9221 6333

W www.planetgas.com

The Transaction is subject to the satisfaction of various conditions precedent as set out in Schedule 1.

BSM’s Projects

BSM’s exploration assets include the high quality Tallebung and Doradilla tin-tungsten assets in NSW. The assets were most recently advanced by YTC Resources (now Aurelia Metals ASX:AMI) prior to Aurelia’s focus on the Hera Project. A short asset summary is presented below:

Tallebung Project (NSW EL6699) – BSM 100%

The Tallebung Project is located ~50km north-west of Condobolin in central NSW and is prospective for high-grade lode and porphyry style tin-tungsten mineralisation.

Tin-tungsten mineralisation is developed in outcrop over ~1km as sheeted/stockwork quartz-cassiterite-wolframite ± sulphide veins above a mineralising granite.

The Tallebung mining history includes numerous selective historic mining of high-grade quartz-lode tin-tungsten mineralisation as well as more recent (1963-1972), large-scale alluvial/colluvial mining.

Tallebung Tin Field represents an immediate shallow, high grade target above an excellent large scale, low grade, ‘tin porphyry’ exploration target.

The Tallebung Project prospectivity is highlighted by the recent discovery (BSM, 2018) of high-grade tin bearing quartz veins where rock chip samples (7) averaged 5.3% tin over a 250m strike (Figure 1).

==> picture [494 x 290] intentionally omitted <==

Figure 1: Tallebung Project, with map inset highlighting high grade vein trend identified from recent (BSM 2018) rock chip sampling.

2

Doradilla Project (NSW EL 6258)– BSM 100%

Located in north-western NSW, approximately 30km from Bourke, the Doradilla hosts extensive specialty metals (tin, tungsten, copper, bismuth, indium, nickel and cobalt) mineralisation associated with the recently dated Triassic aged Midway Granite.

Mineralisation is hosted within the large scale, Doradilla-Midway-3KEL (‘DMK’) skarn which extends for a known strike length of 14km.

The DMK skarn is metallurgically complex and includes a substantial large, oxide JORC 2004 resource (2008) at Midway-3KEL, with size limited only by drilling.

Existing drilling at the 3KEL deposit includes zones of high-grade tin ± copper, zinc and indium

  • 10m @ 4.4% Sn & 107ppm In; and

  • 18m @ 3.0% Sn, 230ppm In, 0.85% Cu and 0.73% Zn

==> picture [515 x 251] intentionally omitted <==

Figure 2: Doradilla Project, with map inset showing a long section along the DMK skarn with highlight drill results at Doradilla and location of the 2008 Resources.

3

SCHEDULE 1 – TRANSACTION DETAILS

1. Consideration

Following a 10 for one share consolidation, the Company will issue the following consideration for the acquisition of BSM:

  • 70,000,000 fully paid ordinary shares (Shares) (being 3.5 Shares for every BSM share held).

  • 20,000,000 free attaching options (each to be issued one Share), having an exercise price of twice the Public Offer issue price and expiring 4 years from grant ( Options ).

2. Conditions Precedent

The transaction is subject to a number of Conditions Precedent, as set out below:

  • (a) the Minority Shareholders each accepting an offer from the Company for their respective BSM Shares they hold, free from encumbrances;

  • (b) completion of financial, legal and technical due diligence on the BSM’s business and operations to the absolute satisfaction of the Company;

  • (c) completion of financial, legal and technical due diligence on the Company’s business and operations to the absolute satisfaction of BSM;

  • (d) completion of a consolidation of capital by the Company on a ratio of 1 for 10 (Consolidation);

  • (e) completion of a capital raising by the Company to raise up to $4.5 million (but in any event not less than the amount required to enable the Company to satisfy ASX Listing Rule 1.1) ( Public Offer );

  • (f) the Company entering into a binding sale agreement or terms sheet for the sale of the Company’s subsidiary, Planet Gas USA, Inc which holds an Overriding Royalty Interest over established oil and gas production assets in Kansas, Pennsylvania and New York State, USA (this has occurred);

  • (g) the Company entering into binding agreements to resolve certain debt obligations to the satisfaction of BSM (these creditors have indicated that they will provide their agreement to convert their debts into postconsolidation Shares);

  • (h) the Company obtaining all necessary third party approvals or consents to give effect to the matters set out in this document to allow the Company to lawfully complete the acquisition; and

  • (i) the Company obtaining all necessary regulatory approvals pursuant to the ASX Listing Rules, Corporations Act 2001 (Cth) or any other law to allow the Company to lawfully complete the acquisition, including but not limited to, approval for a change in nature or scale and subsequent reinstatement to official quotation on ASX on conditions satisfactory to the Company.

4

3. Public Offer

To assist the Company to re-comply with Chapters 1 and 2 of the ASX Listing Rules and to support the proposed exploration program following completion of the Transaction, the Company plans, subject to the approval of its shareholders ( Shareholders ), to conduct a capital raising under a full form prospectus to raise up to $4.5 million through a Public Offer.

4. Control Issues

The Company is advised that the Vendors are and will not be “associates” of each other as that term is defined in the Corporations Act. Assuming completion of the Transaction, no person will have a voting power of 20% or more in the Company.

5.

New Board and Management Team

Upon completion of the Transaction, Mr Norm Seckold will remain a Director and Chairman of the Company. Mr Rimas Kairaitis and a to-be identified person will be appointed as non-executive director and Managing Director / CEO respectively ( New Directors ).

Rimas Kairaitis is a geologist with over 25 years’ experience in minerals exploration and resource development in gold, base metals and industrial minerals. In his most recent role, Mr Kairaitis was founding Managing Director and CEO of Aurelia Metals (ASX: AMI), which he steered from a junior exploration company IPO to a profitable NSW based gold and base metals producer. Rimas is currently Managing Director of ASX Listed Collerina Cobalt (ASX: CLL).

6. Change of Name

The Company will seek shareholder approval to change its name to Sky Metals Limited.

7. Timetable

An indicative timetable for the Transaction and associated events is set out below:

Event Date*
Announce Transaction 22 November 2018
Notice of Meeting sent to Shareholders Mid December 2018
Shareholders meeting to approve Transaction
Lodgement of prospectus with the ASIC
Mid-January 2019
Opening date of Public Offer Mid-January 2019
Closing date of Public Offer Late February 2019
Re-quotation on ASX Late March 2019
  • This timetable is indicative only and the Directors of the Company reserve the right to amend the timetable as required.

5

8. Re-compliance with ASX Listing Rules Chapters 1 and 2

Since the Transaction will amount to a significant change in the nature and scale of the Company’s activities, the Company is required to obtain the approval of its Shareholders for the Transaction, and must re-comply with Chapters 1 and 2 of the ASX Listing Rules.

9. Shareholder approvals

A notice of meeting seeking Shareholder approval for the resolutions required to give effect to the Transaction will be sent to Shareholders in due course. It is expected that the Company will convene a general meeting to be held in January 2019 to facilitate Shareholder approval for matters in respect of the Transaction.

Those approvals will include:

  • (a) the change in nature and/or scale of the Company’s activities;

  • (b) the consolidation of the Company’s share capital on a ratio of 1 for 10;

  • (c) the issue of 70,000,000 Shares and 20,000,000 Options to the Vendors (or their nominees);

  • (d) the issue of Shares to raise up to $4,500,000 under a Public Offer;

  • (e) the change of the Company’s name to Sky Metals Limited;

  • (f) the appointment of the new Directors; and

  • (g) Director participation in the Public Offer.

ASX will from the date of this announcement suspend the Company’s securities from quotation. The Company’s securities will remain suspended until the Company has re-complied with Chapters 1 and 2 of the Listing Rules and the Transaction has completed.

In the event Shareholders approve the disposal of Planet Gas USA, Inc but not the Transaction:

  • (a) the Company’s securities will be reinstated to trading; and

  • (b) the Company will have 6 months to re-comply with Chapters 1 and 2 of the Listing Rules failing which its securities will be suspended pending recompliance.

10.

ASX waivers and confirmations required

The Company intends to seek a waiver from the requirements of Listing Rules 2.1 (Condition 2) and 1.1 (condition 12) to enable it to issue Shares at less than $0.20 per Share and to enable it to have Options on issue with an exercise price below $0.20 respectively. The Company also intends to seek a waiver in respect of Listing Rule 9.1.3 to substitute the application of items 3 and 4 with the restrictions in items 1 and 2 of Appendix 9B in relation to the securities to be issued to the Vendors as consideration for the acquisition of 100% of the issued capital of BSM (as applicable).

6

11. Regulatory requirements generally

The Company notes that:

  • (a) the Transaction requires Shareholder approval under the ASX Listing Rules and therefore may not proceed if that approval is not forthcoming;

  • (b) the Company is required to re-comply with ASX’s requirements for admission and quotation and therefore the Transaction may not proceed if those requirements are not met;

  • (c) ASX has an absolute discretion in deciding whether or not to re-admit the Company to the Official List and to quote its securities and therefore the Transaction may not proceed if ASX exercises that discretion; and

  • (d) investors should take account of these uncertainties in deciding whether or not to buy or sell the Company’s securities.

Furthermore, the Company:

  • (e) notes that ASX takes no responsibility for the contents of this announcement; and

  • (f) confirms that it is in compliance with its continuous disclosure obligations under ASX Listing Rule 3.1.

For further information, please contact, Peter Nightingale on (61-2) 9300 3322

Yours sincerely,

Peter J. Nightingale Director

pjn9711

Competent Persons Statement

The information in this report that relates to Exploration Results is based on information compiled by Rimas Kairaitis, who is a Member of The Australasian Institute of Mining and Metallurgy. Rimas Kairaitis is a Director of Big Sky Metals Pty Ltd and has sufficient experience which is 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 Kairaitis consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

7

Appendix 1:

Drill Hole Data for Doradilla aircore drill holes. Drill holes highlighted in yellow are referenced in the body of the text.

All holes completed by YTC Resources 2007

Hole No East
(GDA)
North
(GDA)
Dip Azimuth
(deg
GDA)
Hole
Depth (m)
From
(m)
To
(m)
Interval
(m)
Est true
width (m)
Sn (%) Cu (%) Zn (%) In
(ppm)
Ag
(ppm)
Comments
3KAC001 444937 6649669 -60 325 23
3KAC002 444929 6649686 -60 325 72
3KAC003 444918 6649704 -60 325 59 6 23 17 10 0.14 0.15 Mineralised at end of hole (23m)
3KAC004 444545 6649376 -90 0 46 6 46 40 25 1.56 0.56 0.38 117 2 Mineralised at end of hole (46m)
includes 18 36 18 11.25 3.04 0.85 0.73 230 3
3KAC005 444537 6649387 -90 0 42 3 42 39 24 0.51 0.18 0.17 19 1 Mineralised at end of hole (42m)
includes 6 24 18 11 0.98 0.23 0.19 21
3KAC006 444400 6649238 -90 0 44 3 42 39 24 0.27 0.05 0.1 10 1
3KAC007 444386 6649267 -90 0 55 2 18 16 10 0.77
3KAC008 444415 6649289 -90 0 64 2 12 10 6 0.51
3KAC009 444406 6649304 -60 145 50 no significant intercept
3KAC010 444388 6649159 -60 325 61 54 61 7 4 0.14 Mineralised at end of hole (61m)
3KAC011 443840 6648894 -90 0 45 10 45 35 22 1.21 Mineralised at end of hole (45m)
3KAC012 443589 6648730 -90 0 48 2 18 16 10 0.3

8

Hole No East
(GDA)
North
(GDA)
Dip Azimuth
(deg
GDA)
Hole
Depth (m)
From
(m)
To
(m)
Interval
(m)
Est true
width (m)
Sn (%) Cu (%) Zn (%) In
(ppm)
Ag
(ppm)
Comments
3KAC013 443581 6648743 -60 145 50 46 50 4 2.5 0.75 Mineralised at end of hole (50m)
3KAC014 443467 6648643 -90 0 52 16 52 36 22 0.91 Mineralised at end of hole (52m)
3KAC015 443480 6648628 -60 145 80 28 60 32 20 0.5
3KAC016 443347 6648557 -90 0 57 2 44 42 26 1.32
includes 4 14 10 6 4.44
3KAC017 443342 6648565 -90 0 66 0 2 2 1 0.18
3KAC018 443330 6648581 -60 145 69 54 57 3 2 1.06
3KAC019 443321 6648527 -90 0 46 no significant intercept
3KAC020 443308 6648526 -90 0 52 0 28 28 18 1.46
includes 4 16 12 8 2.75
3KAC021 443302 6648532 -60 325 57 2 4 2 1 0.14
3KAC022 443292 6648548 -60 325 58 52 58 6 4 1.25
3KAC023 443254 6648514 -60 325 58 no significant intercept
3KAC024 443264 6648496 -60 325 63 0 6 6 2 0.2
3KAC025 443282 6648474 -60 325 68 50 54 4 3 0.87
LTAC001 437848 6647300 -60 325 61 no significant intercept
LTAC002 437774 6647402 -60 325 58 no significant intercept

9

Hole No East
(GDA)
North
(GDA)
Dip Azimuth
(deg
GDA)
Hole
Depth (m)
From
(m)
To
(m)
Interval
(m)
Est true
width (m)
Sn (%) Cu (%) Zn (%) In
(ppm)
Ag
(ppm)
Comments
LTCA003 437789 6647381 -60 325 46 no significant intercept
LTAC004 437801 6647364 -60 325 41 no significant intercept

10

Appendix 2:

Drill Hole Plan for Doradilla aircore drilling. All holes completed by YTC Resources 2007

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11

Appendix 3:

Data for Tallebung rock chip sampling.

All sampling completed by BSM, 2018.

Sample_ID GDA_East GDA_North Au_ppm Ag_ppm Sn_% W_% Cu_ppm In_ppm As_ppm Fe_% Mn_ppm Zn_ppm
RK180120-1 460585 6376614 0.02 1.26 3.51 0.13 16.8 1.82 159.5 1.91 268 16
RK180120-2 460594 6376635 0.01 1.85 5.46 0.018 9.4 2.06 33.4 1.47 166 0
RK180120-3 460621 6376625 0.01 10.1 1.16 0.039 105.5 7.4 900 6.69 172 75
RK180120-4 460616 6376720 0.01 3.8 6.84 0.048 18.6 0 450 1.78 151 16
RK180120-5 460682 6376789 0.01 6.69 0.973 0.051 61.3 8.04 1550 3.42 157 69
RK180120-6 460691 6376842 0.01 0.96 26.8 0.047 10.6 0 255 1.11 49 8
RK180120-7 460665 6376503 0.01 12.45 0.443 0.009 67.6 8.37 556 2.52 96 41
RK180120-8 460302 6377082 0.02 38.7 1.135 18.3 272 134 4410 14 32700 232
RK180120-9 460277 6377136 0.01 99.3 1.32 0.102 834 119.5 9800 13.2 218 118

12

SCHEDULE 4 – JORC CODE (2012) – TABLE 1

JORC CODE 2012 TABLE 1

Section 1 Sampling Techniques and Data – DORADILLA PROJECT

For the reporting of aircore drill hole results

Criteria Explanation Commentary
Sampling
techniques
Nature and quality ofsampling (egcutchannels,randomchips,orspecific specialised
industry standard measurement tools appropriate to the minerals under investigation,suchas
downhole gamma sondes,orhandheld XRF instruments, etc). These examples shouldnot
be taken as limiting the broad meaning ofsampling.

For Doradilla Project aircore drilling samples, drill intervals were collected in bags
and representative samples are taken at 1m intervals by PVC spear.
Samples were submitted to ALS Chemex Orange for preparation and assay
Include referencetomeasurestaken toensure sample representivityand theappropriate
calibration of any measurement tools or systemsused.

For Doradilla Project aircore drilling samples, assay standard prepared by Ore
Research & Exploration (ORE) were inserted in one for at least every 40 samples.
In each assay batch at least one sample was inserted as a bank.
Aspectsof thedeterminationofmineralisationthatare Materialto thePublicReport. In
cases where ‘industrystandard’ work hasbeendone this would berelatively simple(eg
‘reverse circulation drillingwasusedto obtain 1 msamplesfrom which 3 kg was
pulverisedtoproducea 30g charge for fire assay’).Inother casesmore explanation maybe
required, such as where there is coarse goldthathas inherent sampling problems.Unusual
commoditiesormineralisation types (eg submarine nodules)may warrantdisclosureof
detailedinformation.






For the Doradilla aircore samples, a representative split (1-5kg) for each 1m
sample was submitted for assay.
Each sample was dried, crushed and pulverised as per standard industry practice
The primary metals of interest, tin (Sn) and tungsten (W) were determined by
pressed-powder XRF (X-Ray Fluorescence), being the industry standard technique
for these elements. Base metal assay was determined by 30g four-acid digest
with ICP MS determination. Gold was assayed by 30g fire assay with AAS finish,
(Method Au – AA25) with a detection level of 0.01ppm.
Drilling
techniques
Drill type (eg core, reversecirculation, open-hole hammer, rotary air blast, auger,Bangka,sonic,
etc)anddetails (eg core diameter, tripleorstandardtube,depthofdiamondtails,face-
samplingbitor other type, whether core is orientedand ifso, bywhatmethod,etc).

Drilling results reported in this document (Doradilla Project) are 90mm or 76mm
aircore drill holes.
Drillsample
recovery
Method of recordingandassessing coreandchip sample recoveriesandresults assessed. For aircore drilling, each 1m sample bag was weighed and compared against a
theoretical 100% recovery weight, and a recovery calculated. Average recoveries
for all aircore drillingis >80%
Measures taken to maximise samplerecoveryand ensure representative nature of the samples. Drill holes were cleaned with a blow-down sub at the completion of each drilling
rod (3m)

13

Criteria Explanation Commentary
Whethera relationship exists between sample recoveryandgradeandwhether samplebias
may have occurred duetopreferential loss/gain of fine/coarsematerial.

None detected,
Logging Whethercoreand chipsamples havebeengeologically and geotechnically l o g g e dto a
levelof detail tosupport appropriateMineralResource estimation,miningstudiesand
metallurgicalstudies.


Doradilla aircore chip samples were subject to systematic geological and
geotechnical logging is undertaken. Data collected includes:
 Nature and extent of lithologies.
 Relationship between lithologies.
 Amount and mode of occurrence of ore minerals.
 Magnetic susceptibility recorded at 1m intervals for some holes as an
orientation and alteration characterisation tool.
Whether logging is qualitativeorquantitative innature. Core(orcostean, channel,etc)
photography.
Both qualitative and quantitative data was collected.
Thetotal lengthandpercentage of the relevant intersections logged. Chip samples were collected and logged as 1m intervals
Sub-
sampling
techniques
and sample
preparation

Ifcore, whether cut or sawnandwhether quarter, half or all coretaken.
Aircore samples were taken every 1m. No sub-sampling was taken.

Ifnon-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet ordry.
Representative samples were taken with a PVC spear.
Forallsample types,the nature,qualityandappropriatenessof thesamplepreparation
technique.

All samples were dried crushed and pulverised to 85% passing 75 microns. This
is considered to appropriately homogenise the sample to allow subsampling for
the various assay techniques.
Quality control procedures adopted forallsub-sampling stagestomaximiserepresentivityof
samples.
The use of Certified Standard Reference Materials and blanks were inserted at
least every 40 samples to assess the accuracy and reproducibility. The results
of the standards are to be within ±10% variance from known certified result. If
greater than 10% variance the standard and up to 10 samples each side were
re-assayed. ALS conduct internal check samples every 20 samples for Au and
every 20 for base metals.
Measures taken to ensure that the sampling is representative of thein-situ material collected,
including for instance results for field duplicate/second-halfsampling.

For Doradilla aircore drilling samples here reported, duplicate samples were
taken approximately every 30 samples.
Whether sample sizes are appropriatetothe grain size of the material beingsampled. For the Doradilla Project drill samples, the sample sizes were considered
appropriate. In general the mineralisation being tested is a homogeneous, clay
rich laterite ore.
Qualityof
assay data
and
Thenature, quality and appropriateness of the assaying and laboratory procedures usedand
whether the technique is considered partial ortotal.

Standard assay procedures performed by a reputable assay lab, (ALS Group),
were undertaken. Ag, As, Cu, Fe, Pb, S, Zn are digested in aqua regia then
analysed by ICPMS(method ME-MS61). Comparison with 4 acid digestion

14

Criteria Explanation Commentary
laboratory
tests
indicate that the technique is considered total for Ag, As, Cu, Pb, S, Zn. Fe may
not be totally digested by aqua regia but near total digestion occurs.
Sn and W assays were generated by pressed powder XRF (method ME-XRF15c)
– considered appropriate for these elements.
For geophysical tools, spectrometers,handheld XRF instruments, etc, the parameters usedin
determining the analysisincluding instrument make and model, reading times, calibrations
factors appliedandtheir derivation,etc.


Not Applicable as no geophysical tools were used in the determination of assay
results.
Nature ofquality control procedures adopted (eg standards, blanks, duplicates,external
laboratory checks)andwhether acceptable levels of accuracy (ie lack of bias)andprecision
have beenestablished.

For Doradilla Project aircore drilling, certified reference material or blanks are
inserted at least every 40 samples. Standards are purchased from Ore Research
and Exploration. Standards were purchased in foil lined packets of between 60g
and 100g. Different reference materials are used to cover high grade, medium
grade and low grade ranges of tin mineralisation, with attendant reference values
for Au, Ag, Pb, Zn Cu, Fe S and As. The standard names on the foil packages were
erased before going into the pre-numbered sample bag and the standards are
submitted to the lab blind.
Verification
ofsampling
and
assaying
Theverificationofsignificant intersections by either independentoralternative company
personnel.

The intersection calculations were viewed by >1 geological personnel.
Theuse of twinnedholes. Twinned holes have not been used in the drilling results here reported.
Documentationofprimarydata, dataentry procedures,dataverification,datastorage
(physicalandelectronic)protocols.
Drill Hole Data including: meta data, any gear left in the drill hole, lithological,
mineral, survey, sampling, magnetic susceptibility were collected and entered
directly into an excel spread sheet using drop down codes. When complete the
spreadsheet was combined into a master excel spreadsheet as the drill hole
database.
Assay data was provided by ALS via .csv spreadsheets. The data was validated
using the results received from the known certified reference material. Hard
copies of the assay certificates were stored with drill hole data such as drillers
plods, invoices and hole planning documents.
Discuss any adjustmenttoassaydata. Assay data is not adjusted.
Location of
data
points
Accuracyandqualityofsurveys usedtolocatedrillholes (collaranddown-holesurveys),
trenches,mineworkingsandother locations usedinMineral Resourceestimation.
Drill hole collars were located using hand held GPS to ±5m.
Specification of the grid systemused. All coordinates are based on Map Grid Australia zone 55H
Quality andadequacy of topographiccontrol. Topographic control is taken usinga handheld GPS and is considered adequate.
Data Data spacing for reporting of ExplorationResults. The Doradilla drill results are exploratory in nature with piece points between 20m
and 100m spacingwithin the mineralised structure.

15

Criteria Explanation Commentary
spacing
and
distribution
Whether the data spacinganddistribution is sufficienttoestablish the degree of geologicaland
grade continuity appropriatefor the MineralResourceandOre Reserveestimation
procedure(s)andclassificationsapplied.

Within the Doradilla Project, the drilling results from the 3KEL and Midway
deposits have been used to verify previous drilling results and to estimate an
Inferred Resource under the JORC Code (2004).
Whether sample compositing has beenapplied. Sample compositing is not applied.
Orientation
ofdatain
relationto
geological
structure
Whether the orientation of sampling achieves unbiased sampling of possible structuresandthe
extenttowhich this is known, considering the deposittype.

Within the Doradilla Project, drilling is generally orientated to cross the
interpreted, steeply dipping mineralisation trend at moderate to high angles.
However, a number of aircore holes are oriented vertically within a narrow, steep
dippingstructure.
If therelationship betweenthedrilling orientationand theorientationofkeymineralised
structures is consideredtohave introduceda sampling bias,thisshouldbeassessedand
reportedif material.


No sample bias due to drilling orientation is known.
Sample
security
Themeasures takentoensure samplesecurity. Sample chain of custody has been managed by the employees of Sky Metals who
commissioned the drilling (YTC Resources) from the drilling rig to assay laboratory.
Auditsor
reviews
Theresults of any audits or reviews of sampling techniquesand data. No audits or reviews have been conducted at this stage.

16

Section 2 Reporting of Exploration Results - DORADILLA PROJECT

Criteria Explanation Commentary
Mineraltenement
andland tenure
status
Type,reference name/number, locationandownership including agreementsor materialissues
with thirdparties such asjointventures, partnerships, overriding royalties,native title interests,
historical sites, wilderness or national parkandenvironmentalsettings.


The Doradilla Project is described by NSW Exploration Licence 6258 and is 100%
owned by Stannum Pty Ltd, a 100% owned subsidiary of Big Sky Metals Pty Ltd.
Thesecurity of the tenure heldatthe time of reporting alongwithany known impedimentsto
obtaining a licencetooperateinthearea.

There are no known impediments to the tenure
Exploration done
by otherparties
Acknowledgmentandappraisal of exploration by otherparties. The Doradilla Project area has an extensive exploration history, with the tenement
area subject to extensive past exploration within 22 previous exploration licences.
The main DMK line skarn zone was discovered by North Broken Hill Ltd in 1972.
Between 1972 and 1984 several companies, (North Broken Hill Ltd, Renison Ltd,
Aberfoyle Exploration Pty Ltd, Metals Exploration Ltd, and Preussag Australia Pty Ltd),
drilled multiple diamond, percussion and auger drill holes on the prospect, defining a
stratigraphically persistent, low grade, tin-bearing calc-silicate skarn. Significant
exploration efforts were also completed by Shell Minerals, Cleveland Tin, Aberfoyle,
Eastmet and Metals Exploration. More recent exploration was completed by
Goldminco Corporation and YTC Resources (now Aurelia Metals), who completed
aircore drilling programmes on 3KEL, the Doradilla deposit, as well as aircore and
diamond core holes across a number of ultramafic serpentinite bodies, exploring for
skarn related nickel mineralisation.
Geology Deposit type, geological settingandstyle ofmineralisation. The bedrock geology of EL6258 comprises units of low to moderate metamorphic
grade phyllite, schist, slate, siltstone, and conglomerate that have been previously
interpreted to be part of the Ordovician Girilambone Group. The mineralisation at
Doradilla is mainly skarn/replacement tin/tungsten mineralisation hosted with the
DMK Line. The DMK Line is a belt of calc-silicate skarns after limestone and marl that
is up to 100m thick. This unit is considered to be a conformable part of the Devonian
stratigraphy. Other calc silicates have been located at Doradilla Trig, Wednesday Shaft
and Northern Shaft. Post-dating deformation and regional metamorphism is the
emplacement of a large fractioned A-type granite batholith with an evolved suite of
quartz porphyry dykes (the Midway Granite), interpreted to be the source of
mineralising fluids at Doradilla. Recent dating has demonstrated a Triassic age for
these intrusions. Mineralisation appears to be related to emplacement of this
batholith.
Drill hole
Information
Asummaryof allinformation materialto theunderstandingof theexplorationresults
includinga tabulation of the following information for all Material drill holes:
•eastingandnorthing of the drill holecollar
•elevation or RL (Reduced Level– elevation abovesea levelinmetres) of the drill holecollar
• dip and azimuthof thehole
•down hole lengthandinterceptiondepth

See table in Appendix of report.

17

Criteria Explanation Commentary
•holelength.
If theexclusionof thisinformation is justifiedon thebasisthat theinformation isnotMaterial
and thisexclusion doesnotdetractfrom theunderstandingof thereport,theCompetent
Person should clearly explain why this is the case.


Not applicable as drill hole information is included.
Data
aggregation
methods
Inreporting Exploration Results,weightingaveraging techniques,maximum and/or minimum
grade truncations (egcutting of highgrades)andcut-off grades are usuallyMaterialandshould
bestated.


Drilling results from the Doradilla Project have been length weighted. Grades greater
than 0.1% Sn have been used to calculate intercepts. No high cutoff has been
applied.
Where aggregate intercepts incorporate short lengths of high grade resultsand longer lengthsoflow
grade results,theprocedure usedforsuch aggregation shouldbestatedand sometypical
examples of such aggregations should be shownin detail.


Intercepts are length weighted with no cutting of grades. This may lead to elevation
of intercept grades due to the presence of a narrow interval of high-grade material.
Such high-grade zones are reported as included intercepts inside the broader
intercept.
Theassumptions used for any reporting of metal equivalent values should be clearlystated. No metal equivalences quoted.
Relationship
between
mineralisationwidths
and
intercept lengths
These relationships are particularly importantinthe reporting of ExplorationResults. Doradilla aircore hole were drilled as vertical holes in a steeply dipping mineralised
zone. True widths are estimated to be ~60% of down hole widths

Ifthe geometry of the mineralisationwithrespect to the drill hole angle isknown, itsnature should
bereported.

See table in Appendix of report.
If itisnot known andonlythe downhole lengths are reported, there shouldbe aclear
statementtothis effect (eg‘down hole length, truewidth not known’).

See table in Appendix of report.
Diagrams Appropriate maps and sections (withscales)and tabulations of intercepts should beincludedfor
anysignificant discovery being reported These should include,but not be limited to aplan view
of drill hole collar locationsandappropriate sectionalviews.


For Doradilla Project aircore drilling see plan Appendix of report.
Balanced
reporting
Where comprehensive reporting of all Exploration Results isnotpracticable, representative
reporting of both low and high grades and/or widths should be practiced toavoid misleading
reporting of ExplorationResults.

See table in Appendix of report.

18

Criteria Explanation Commentary
Other
substantive exploration
data
Other exploration data,ifmeaningful and material, should be reported including(but not limited
to): geological observations; geophysical survey results; geochemical surveyresults;bulksamples
–sizeand method oftreatment; metallurgicaltestresults;bulkdensity, groundwater,
geotechnicalandrock characteristics; potential deleterious orcontaminatingsubstances.



Not applicable
Furtherwork Thenatureandscaleofplannedfurther work(eg testsforlateral extensionsor depth
extensions or large-scale step-outdrilling).

See body of report.
Diagrams clearly highlighting theareas of possible extensions,including the main geological
interpretationsandfuture drilling areas, providedthisinformation isnotcommercially
sensitive.


See figures in body of report.

19

SCHEDULE 4 – JORC CODE (2012) – TABLE 1

JORC CODE 2012 TABLE 1

Section 1 Sampling Techniques and Data –TALLEBUNG PROJECT

For the reporting of rock chip and diamond core drill hole results

Criteria Explanation Commentary
Sampling
techniques
Nature and quality ofsampling (egcutchannels,randomchips,orspecific specialisedindustry
standard measurement tools appropriate to the minerals under investigation,suchasdownhole
gamma sondes,orhandheld XRF instruments, etc). These examples shouldnotbe taken as
limiting the broad meaning ofsampling.



Rock chip sampling is by random, non-selective sampling of outcrop or sub-crop at the
location as described in either plan or tabular form.
Drill coresampling is by sawn half core HQ & NQ core or quarter PQ core. Nominal
sample intervals are 1m with a range from 0.5m to 1.5m.
All rock chip sample results were submitted to ALS Chemex Orange for preparation
and assay
Include referencetomeasurestaken toensure sample representivityand theappropriate
calibration of any measurement tools or systemsused.

For Tallebung Rock Chip samples, lab standards and blanks were relied upon.
For diamond drilling, assay standards or blanks are inserted at least every 40
samples.
Aspectsof thedeterminationofmineralisationthatare Materialto thePublicReport. In
cases where ‘industrystandard’ work hasbeendone this would berelatively simple(eg ‘reverse
circulation drillingwasusedto obtain 1 msamplesfrom which 3 kg waspulverisedto
producea 30g charge for fire assay’).Inother casesmore explanation mayberequired, such as
where there is coarse goldthathas inherent sampling problems.Unusualcommoditiesor
mineralisation types (eg submarine nodules)may warrantdisclosureofdetailedinformation.





For the Tallebung Rock Chip Samples, the full rock chip sample (1-3kg) was submitted
for assay.
Each sample was dried, crushed and pulverised as per standard industry practice.
For diamond drilling, core samples were taken at nominally 1m, but with a range
between 0.5-1.5m. Core samples are cut in half, dried, crushed and pulverised to
85% passing 75 microns.
The primary metals of interest, tin (Sn) and tungsten (W) were determined by pressed-
powder XRF (X-Ray Fluorescence), being the industry standard technique for these
elements. Base metal assay was determined by 30g four-acid digest with ICP MS
determination. Gold was assayed by 30g fire assay with AAS finish, (Method Au –
AA25) with a detection level of 0.01ppm.

20

Criteria Explanation Commentary
Drillingtechniques Drill type (eg core, reversecirculation, open-hole hammer, rotary air blast, auger,Bangka,sonic,
etc)anddetails (eg core diameter, tripleorstandardtube,depthofdiamondtails,face-
samplingbitor other type, whether core is orientedand ifso, bywhatmethod,etc).

Drilling results reported were by diamond coring. Surface holes generally commence
as PQ core until fresh rock is reached. The PQ rods are left as casing thence HQ or NQ
coring is employed.
Drillsample recovery Method of recordingandassessing coreandchip sample recoveriesandresults assessed. Measured core recovery against intervals drilled were recorded as part of geotechnical
logging. Recoveries are greater than 95% once in fresh rock.
Measures taken to maximise samplerecoveryand ensure representative nature of the samples. Triple tube drilling was employed to maximise recovery.
Whethera relationship exists between sample recoveryandgradeandwhether samplebiasmay
have occurred duetopreferential loss/gain of fine/coarsematerial.
N/A since recoveries exceeded 95%.
Logging Whethercoreand chipsamples havebeengeologically and geotechnically l o g g e dto alevel
of detail tosupport appropriateMineralResource estimation,miningstudiesand
metallurgicalstudies.


Systematic geological and geotechnical logging was undertaken. Data collected
includes:

Nature and extent of lithologies.

Relationship between lithologies.

Amount and mode of occurrence of ore minerals.

Location, extent and nature of structures such as bedding, cleavage, veins,
faults etc. Structural data (alpha & beta) are recorded for orientated core.

Geotechnical data such as recovery, RQD, fracture frequency, qualitative
IRS, microfractures, veinlets and number of defect sets. For some
geotechnical holes the orientation, nature of defects and defect fill are
recorded.

Bulk density by Archimedes principle at regular intervals.

Magnetic susceptibility recorded at 1m intervals for some holes as an
orientation and alteration characterisation tool.
Whether logging is qualitativeorquantitative innature. Core(orcostean, channel,etc)
photography.
Both qualitative and quantitative data is collected. All core was digitally photographed.
Thetotal lengthandpercentage of the relevant intersections logged. All core was geologically and geotechnically logged.
Sub-sampling
techniques
and sample
preparation
Ifcore, whether cut or sawnandwhether quarter, half or all coretaken. Core was sawn with half core submitted for assay. Sampling was consistently on one
side of the orientation line so that the same part of the core is sent for assay. PQ core
is ¼ sampled.
Ifnon-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet ordry. N/A
Forallsample types,the nature,qualityandappropriatenessof thesamplepreparation
technique.

For both Tallebung Rock Chip samples and Tallebung core samples: all samples were
dried crushed and pulverised to 85% passing 75 microns. This is considered to
appropriately homogenise the sample to allow subsampling for the various assay
techniques.

21

Criteria Explanation Commentary
Quality control procedures adopted forallsub-sampling stagestomaximiserepresentivityof
samples.

The use of Certified Standard Reference Materials and blanks were inserted at least
every 40 samples to assess the accuracy and reproducibility. The results of the
standards were to be within ±10% variance from known certified result. If greater
than 10% variance the standard and up to 10 samples each side were re-assayed.
ALS conducted internal check samples every 20 samples for Au and every 20 for base
metals.
Measures taken to ensure that the sampling is representative of thein-situ material collected,
including for instance results for field duplicate/second-halfsampling.

No field duplicates are taken for core samples. Core samples were cut in ½ for down
hole intervals of 1m, however, intervals can range from 0.5-1.5m. This is considered
representative of the in-situ material. The sample was crushed and pulverised to 85%
passing 75 microns. This was considered to appropriately homogenise the sample.
Whether sample sizes are appropriatetothe grain size of the material beingsampled. Sample sized were considered appropriate. In general the mineralisation being tested
is a homogeneous, clay rich laterite ore.
Qualityof
assay dataand
laboratory tests
Thenature, quality and appropriateness of the assaying and laboratory procedures usedand
whether the technique is considered partial ortotal.

Standard assay procedures performed by a reputable assay lab, (ALS Group), were
undertaken. Ag, As, Cu, Fe, Pb, S, Zn are digested in aqua regia then analysed by
ICPMS(method ME-MS61). Comparison with 4 acid digestion indicate that the
technique is considered total for Ag, As, Cu, Pb, S, Zn. Fe may not be totally digested
by aqua regia but near total digestion occurs.
Sn and W assays were generated by pressed powder XRF (method ME-XRF15c) –
considered appropriate for these elements.
For geophysical tools, spectrometers,handheld XRF instruments, etc, the parameters usedin
determining the analysisincluding instrument make and model, reading times, calibrations
factors appliedandtheir derivation,etc.


Not Applicable as no geophysical tools were used in the determination of assay
results.
Nature ofquality control procedures adopted (eg standards, blanks, duplicates,external
laboratory checks)andwhether acceptable levels of accuracy (ie lack of bias)andprecisionhave
beenestablished.


For diamond drill core, certified reference material or blanks were inserted at least
every 40 samples. Standards are purchased from Certified Reference Material
manufacture companies: Standards were purchased in foil lined packets of between
60g and 100g. Different reference materials were used to cover high grade, medium
grade and low grade ranges of elements, with a primary focus on tin.
Verification
ofsampling
and assaying
Theverificationofsignificant intersections by either independentoralternative company
personnel.

The intersection calculations were viewed by >1 geological personnel.
Theuse of twinnedholes. Twinned holes have not been used in the drilling results here reported.

22

Criteria Explanation Commentary
Documentationofprimarydata, dataentry procedures,dataverification,datastorage
(physicalandelectronic)protocols.
Drill Hole Data including: meta data, any gear left in the drill hole, lithological, mineral,
survey, sampling, magnetic susceptibility was collected and entered directly into an
excel spread sheet using drop down codes. When complete the spreadsheet was
combined into a master excel spreadsheet as the drill hole database.
Assay data was provided by ALS via .csv spreadsheets. The data was validated using
the results received from the known certified reference material. Hard copies of the
assay certificates were stored with drill hole data such as drillers plods, invoices and
hole planning documents.
Discuss any adjustmenttoassaydata. Assay data is not adjusted.
Location ofdata
points
Accuracyandqualityofsurveys usedtolocatedrillholes (collaranddown-holesurveys),
trenches,mineworkingsandother locations usedinMineral Resourceestimation.

Drill hole collars were located using hand held GPS to ±5m.
Specification of the grid systemused. All coordinates are based on Map Grid Australia zone 55H
Quality andadequacy of topographiccontrol. Topographic control was taken usinga handheld GPS and is considered adequate.
Dataspacing and
distribution
Data spacing for reporting of ExplorationResults. The Tallebung results are exploratory in nature with piece points between 50m and
200m spacingwithin the mineralised structure.
Whether the data spacinganddistribution is sufficienttoestablish the degree of geologicaland
grade continuity appropriatefor the MineralResourceandOre Reserveestimationprocedure(s)
andclassificationsapplied.
Not Applicable as no Resource Estimate has been completed
Whether sample compositing has beenapplied. Sample compositing is not applied.
Orientationofdata
inrelationto
geological structure
Whether the orientation of sampling achieves unbiased sampling of possible structuresandthe
extenttowhich this is known, considering the deposittype.

Drilling was orientated west to cross the interpreted, easterly dipping tin-lode
mineralisation trend at moderate to high angles. The use of orientated core allows
estimates of the true width and orientation of the mineralisation to be made.
If therelationship betweenthedrilling orientationand theorientationofkeymineralised
structures is consideredtohave introduceda sampling bias,thisshouldbeassessedand
reportedif material.


No sample bias due to drilling orientation is known.
Sample
security
Themeasures takentoensure samplesecurity. Sample chain of custody has been managed by the employees of Sky Metals who
commissioned the drilling from the drilling rig to assay laboratory.
Auditsor
reviews
Theresults of any audits or reviews of sampling techniquesand data. No audits or reviews have been conducted at this stage.

23

Section 2 Reporting of Exploration Results - TALLEBUNG PROJECT

Criteria Explanation Commentary
Mineral
tenementand
land tenure
status
Type,reference name/number, locationandownership including agreementsor materialissues
with thirdparties such asjointventures, partnerships, overriding royalties,native title interests,
historical sites, wilderness or national parkandenvironmentalsettings.


The Tallebung Project is described by NSW Exploration Licence 6699
The tenement is 100% owned by Stannum Pty Ltd, a 100% owned subsidiary of Big Sky
Metals Pty Ltd.
The Tallebung tenement is overlain by Native Title Determination Application No NC12/1
(Federal Court No NSD 415/12).
Thesecurity of the tenure heldatthe time of reporting alongwithany known impedimentsto
obtaininga licencetooperateinthearea.

Stannum Pty Ltd have previously commence a Right to Negotiate Process (RTN) with the
claimant group with respect to Application No NC12/1 (Federal Court No NSD 415/12).
These negotiations did not conclude. Stannum Pty Ltd has recently (June 2018)
resubmitted a Native Title Clearance report to the NSW Dept of Planning.
Exploration done
by otherparties
Acknowledgmentandappraisal of exploration by otherparties. The Tallebung Project area was subject to a large, modern scale alluvial/colluvial mining
by the Tullebong Tin Syndicate in the period 1963-1972. The Tullebong Syndicate
completed a programme of 24 short diamond holes in 1968-69 designed to test the
lode mineralisation at Tallebung.
Pruessag completed a large-scale assessment of the alluvial tin deposits in 1984-85,
including RC drilling, identifying the potential for a large, low grade alluvial deep lead.
In recent exploration, YTC Resources (now Aurelia Metals Ltd) completed trenching,
diamond drilling, aircore drilling of tailings, and resistivity geophysics as the Tallebung
tin field. YTC recognised the continued potential for both shallow high grade, and large
scale low-grade ‘porphyry-style- tin mineralisation.
Geology Deposit type, geological settingandstyle ofmineralisation. The Ordovician aged Tallebung Group sediments in the Tallebung Tin Field area outcrop
as a sequence of weakly metamorphosed shales, siltstones, carbonaceous mudstones
and minor quartz-rich sandstones. The rocks are tightly folded, striking NNW at around
330o with variable dips. The tin mineralisation is though to be sourced from the Silurian
Aged Erimeran granite, which outcrops 2km south of the Tallebung Tin Field. The
Tallebung Tin Field represents a site of significant tin and tungsten production from high
grade, quartz lodes and their associated alluvial and deep lead deposits. The field has
been worked sporadically from the discovery of lode tin in the 1890’s, through to the
large scale open cut mining of alluvial tin by the Tullabong Tin Syndicate in the period
1963 to 1971. The Tallebung Tin Field contains significant, tin bearing, unconsolidated
sediments which are alluvial to elluvial in nature, poorly sorted and contain coarse
bedrock fragments up to 15cm in a matrix of sandy/silty clay with some iron oxides and
cemented layers. Sediment thickness varies from 5m to 36 metres. The east-trending,
tin bearing leads and deep leads draining the Tallebung lode deposits are the dominant
source of historic tin production from the field. The Tallebung site is now a large scale
derelict mining environment with approximate 1.2km strike of shallow open cuts, large
scale tailings dam and decayingmine site housingand infrastructure.

24

Criteria Explanation Commentary
The tin and tungsten bearing quartz reefs are located on the western edge of the worked
out alluvial open pits. The lodes form a well-developed quartz vein stock work zone
extending for approximately 1.2km on a 330o trend. Thicker quartz lodes >0.5m have
been selectivelyexploited in historic shafts and shallow open cuts alongthe trend.
Drill hole
Information
Asummaryof allinformation materialto theunderstandingof theexplorationresultsincluding
atabulation of the following information for all Material drill holes:
•eastingandnorthing of the drill holecollar
•elevation or RL (Reduced Level– elevation abovesea levelinmetres) of the drill holecollar
• dip and azimuthof thehole
•down hole lengthandinterceptiondepth
•holelength.

See table in Appendix of report.
If theexclusionof thisinformation is justifiedon thebasisthat theinformation isnotMaterial
and thisexclusion doesnotdetractfrom theunderstandingof thereport,theCompetent Person
should clearly explain why this is the case.


Not applicable as drill hole information is included.
Data
aggregation
methods
Inreporting Exploration Results,weightingaveraging techniques,maximum and/or minimum
grade truncations (egcutting of highgrades)andcut-off grades are usuallyMaterialandshould
bestated.


Where reported, drilling results from the Tallebung Project have been length weighted.
Grades greater than 0.1% Sn have been used to calculate intercepts. No high cut-off
has been applied.
Where aggregate intercepts incorporate short lengths of high grade resultsand longer lengthsoflow
grade results,theprocedure usedforsuch aggregation shouldbestatedand sometypical
examples of such aggregations should be shownin detail.


Intercepts are length weighted with no cutting of grades. This may lead to elevation of
intercept grades due to the presence of a narrow interval of high-grade material. Such
high grade zones are reported as included intercepts inside the broader intercept.
Theassumptions used for any reporting of metal equivalent values should be clearlystated. No metal equivalences quoted.
Relationship
between
mineralisation
widthsand
intercept lengths
These relationships are particularly importantinthe reporting of ExplorationResults. Orientated drill core used to allow determination of orientation of structures and
mineralisation. Lode orientation of the Tallebung is well constrained by previous drilling
and outcrop.
Ifthe geometry of the mineralisationwithrespect to the drill hole angle isknown, itsnature should
bereported.

See table in Appendix of report.
If itisnot known andonlythe downhole lengths are reported, there shouldbe aclearstatement
tothis effect (eg‘down hole length, truewidth not known’).
See table in Appendix of report.

25

Criteria Explanation Commentary
Diagrams Appropriate maps and sections (withscales)and tabulations of intercepts should beincludedforany
significant discovery being reported These should include,but not be limited to aplan view of
drill hole collar locationsandappropriate sectionalviews.


For Tallebung Project drilling and rock chip samples see plan in the body of the report.
Balanced
reporting
Where comprehensive reporting of all Exploration Results isnotpracticable, representative reporting
of both low and high grades and/or widths should be practiced toavoid misleadingreporting of
ExplorationResults.


See table in Appendix of report.
Other
substantive
explorationdata
Other exploration data,ifmeaningful and material, should be reported including(but not limited
to): geological observations; geophysical survey results; geochemical surveyresults;bulksamples–
sizeand method oftreatment; metallurgicaltestresults;bulkdensity, groundwater, geotechnical
androck characteristics; potential deleterious orcontaminatingsubstances.



Not applicable
Furtherwork Thenatureandscaleofplannedfurther work(eg testsforlateral extensionsor depthextensions
or large-scale step-outdrilling).

See body of report.
Diagrams clearly highlighting theareas of possible extensions,including the main geological
interpretationsandfuture drilling areas, providedthisinformation isnotcommerciallysensitive.


See figures in body of report.

26