SULTAN RESOURCES LTD — Regulatory Filings 2019

Oct 28, 2019

ASX ANNOUNCEMENT

29th October 2019

EXCEPTIONAL GRAVITY RESULTS HIGHLIGHT GOLD POTENTIAL AT LAKE GRACE

Highlights

• Detailed ground gravity survey covering 20km of gold mineralised terrain completed
• Results show numerous prominent gravity targets associated with historic and recent gold mineralisation in drilling
• Very strong, 2km long gravity high associated with Challenger Gold Prospect – down dip of recent gold intersections in drilling:
  • o shows strong similarities to the gravity response that marks the Tampia Gold Deposit
  • o Larger than the Tampia gravity anomaly
• Gravity survey indicates a +17km trend of dense mafic lithology extends NW from Challenger and remains untested by deep drilling

The Board of Sultan Resources Ltd (Sultan or the Company) is pleased to advise that the detailed ground gravity survey at the Company's Lake Grace Project (see ASX announcement 23/09/2019) has been completed. Designed to cover the Challenger Prospect and extend northwest along the gold-hosting regional structural trend, the survey has successfully provided detailed geological information on the dense, mafic gold-hosting rock types and highlighted numerous prominent gravity anomalies associated with areas of historic and recently discovered gold mineralization.

Managing Director, Steve Groves commented: "The results of the gravity survey are exceptional. The strong gravity response at Challenger lies immediately adjacent to our recent successful RC drilling, where we have drilled the near-surface area of what looks like a very large gold mineralising system that dips tantalizingly towards a huge, arcuate gravity anomaly that has very similar properties to that which marks the Tampia Gold Deposit. It remains untested by drilling. Furthermore, the gravity survey has identified a number of additional targets, all of which are coincident with historic gold anomalism. This paves the way for some exciting exploration programs for Sultan in the near future."

Sultan Resources Ltd ACN: 623652 522

CORPORATE DETAILS

ASX Code: SLZ

DIRECTORS

STEVEN GROVES MANAGING DIRECTOR

JEREMY KING CHAIRMAN

DAVID LEES NON-EXECUTIVE DIRECTOR

CONTACT

Suite 2, Level 1, 1 Altona Street West Perth WA 6005 www.sultanresources.com.au

info@sultanresources.com.au

sultanresources.com.au

Figure 1: Regional map view of Sultan's Lake Grace portfolio in relation to surrounding tenure and significant gold deposits. SLZ's Challenger Gold Prospect is marked by a red star.

Survey Details

The survey was designed to provide high resolution gravity data across the recently drilled Challenger Gold Prospect and extend north-west to cover historically identified1 gold anomalies associated with mafic rock types. A total of 2156 ground gravity readings were acquired by Atlas Geophysics between 23/9/19 and 8/10/19. Readings were taken at varying spacings along east-west lines mostly positioned 200m apart. Closer spaced readings were taken around the Challenger prospect on a 100m x 100m grid. All data was forwarded to Core Geophysics where readings were corrected to produce a spherical cap bouguer anomaly (SCBA) with all processing and imaging using a value of 2.67 gm/cc in the bouguer correction (Figure 2). Core Geophysics then performed a detailed analysis of the data to identify targets prospective for gold mineralization.

Survey Results

The survey has revealed at least four prospective targets (Figure 2), the most prominent of which exists at the Challenger Gold Prospect where recent drilling by Sultan has discovered thick zones of significant gold mineralization over a wide area2 . All four targets are all associated with recent and/or historic gold anomalism.

Figure 2. Proposed exploration targets for the Challenger gravity survey with recent and historic significant gold results

Target 1 – Challenger Gold Prospect

A large gravity high has been mapped at the Challenger prospect and is likely to represent a mafic gneiss/granulite given this was recorded in EOH geology for several historic air-core holes that traverse the anomaly. The 2km long, slightly arcuate high encloses the recent drilling by Sultan2 and remains untested by deeper drilling. All historic Aircore/RAB drilling was either too shallow or stopped in highly weathered bedrock to provide an effective test of the gravity high. The two historic diamond holes drilled by North Ltd1 collared on the southern edge of the high but drilled at an angle away from it. Both holes intersected significant gold mineralisation that is interpreted to be dipping towards the gravity anomaly. Sultan's recent RC drilling also intersected significant gold mineralisation that is interpreted to be dipping down towards the gravity high. Three-dimensional inversion modelling of the gravity high shows it to be separated from magnetic units and strongly reflects the prospective petrophysical association observed at the nearby Tampia deposit3 . Another feature of both the gravity and magnetic data is that the sequence appears to be folded, with a plunging synform geometry evident. Fold axes in similar geometry host some of the high-grade gold at Tampia3 .

Figure 3. Comparison of the 2km long Challenger gravity anomaly to the Tampia gravity response at the same scale. Note that the accurate shape at Challenger could indicate a folded sequence and the proximity to previous deeper drilling at Challenger (blue dots) suggesting that the most prospective area af the gold-hosting stratigraphy remains untested.

Target 2 – Apollo Prospect

This target is located about 6km northwest of Challenger, along the interpreted line of mafic gneisses and is characterised by a discrete gravity high similar in amplitude to that of the Challenger prospect. The target is adjacent to North's historic Apollo prospect1 , where numerous shallow RAB holes returned highly anomalous gold results (Figure 2) The target could represent an untested zone of non-magnetic mafic gneiss and 3D inversion of the gravity data indicates that rocks below the gravity high reach a peak density of around 3 gm/cc at a depth exceeding -100m RL. Although the residual gravity anomaly indicates this is an isolated target, it is possible that this once formed a part of a larger fold closure with Challenger at the distal south-east end. Core Geophysics recommend that the target is prospective for Challenger style, non-magnetic mafic gneisses and/or a possible gold target of an unknown association.

Target 3 – Columbia Prospect

This target is located about 16km northwest of Challenger, along the interpreted line of mafic gneisses and is characterised by a broad gravity high coincident with a structurally disrupted magnetic unit. The target is adjacent to North's historic Columbia prospect1 , where shallow RAB drilling returned highly anomalous gold results including 5m @ 0.18g/t Au and 4m @ 0.11g/t Au (Figure 2). Core Geophysics note that the target represents an enigmatic confluence of several parallel north-south faults crossing a northwest trending magnetic unit. Of note is the disruption (shearing?) of magnetic units in conjunction with the change in density and is an unusual combination of structural disruption, increased density and magnetic susceptibility with the possibility of an intrusive rock mass at depth. The complex geophysical and structural signature, coupled with very significant historic gold results, renders Target 3 as an alluring regional exploration target for Sultan.

Target 4

This target is proposed due to geological and geophysical similarities with the Griffin's Find deposit. Although not specifically a gravity target, the qualitative similarity in magnetic stratigraphy makes this a compelling, but still speculative, exploration target. The geophysics show that the region of Target 4 is characterised by a broad, low-density rock mass which is consistent with the presence of a granitic intrusive. However, a visual comparison of the broader magnetic stratigraphy between Griffin's Find and here suggests that this package was once a likely repeat of the stratigraphy at Griffin's Find. Historic soil sampling results have returned anomalous gold values in the 6 – 10ppb Au range over the target4 . Although somewhat speculative, Target 4 should be considered as a possible correlative to the Griffin's Find deposit.

Figure 4. Target 4 - the residual gravity SCBA (left) and a TMI FVD (right) is overlain by SCBA residual contours. Exploration prospectivity should increase to the NW, away from the dominant granitic assimilation in the SE

Next Steps

Sultan is continuing to review the gravity results in conjunction with their recent drilling to design follow up exploration programs. The focus will be on the Challenger Prospect, where significant gold mineralization has already been discovered.

For further information contact: Managing Director Investor Relations Steve Groves Peter Taylor

info@sultanresources.com.au Peter@nwrcommunications.com.au 0412 036 231

References:

• 1 North Limited Public Company Report A45226: "Final Report on Exploration Licences E70/1367 & E70/1368" August 1995
• 2 Sultan Resources ASX Release: "RC Drilling on Historic Targets at Lake Grace Complete" 04/04/2019
• 3 Explaurum Limited Company Presentation: "Unlocking Wheatbelt Gold – Tampia Gold Project" 03/08/2019
• 4 Magnetic Resources Public Company Report A087409: "Annual Report on E70/3498" 03/08/2010

Competent Persons Statement

The information in this report that relates to Exploration Targets and Exploration Results is based on historical exploration information compiled by Mr Steven Groves, who is a Competent Person and a Member of the Australian Institute of Geoscientists. Mr Groves is Managing Director and a full-time employee of Sultan Resources Limited. Mr Groves has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the "Australasian Code for the reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Groves consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

About Sultan Resources

Sultan Resources is a West Australian focused exploration company with a portfolio of quality assets in emerging discovery terranes currently targeted by successful explorers such as Gold Road Resources, Sandfire Resources and Lodestar Minerals. Sultan's tenement portfolio includes prospective targets for gold, Nickel, Cobalt and base metals and include tenements at Thaduna, Lake Grace, East Tallering and Dawallinu, all located within the southern terrane region of the Yilgarn Craton in south and south eastern Western Australia. Sultan's board and management strategy is for a methodical approach to exploration across the prospects in order to discover gold and base metals that may be delineated via modern exploration techniques and exploited for the benefit of the company and its shareholders.

Appendix 4: JORC Code, 2012 Edition Table 1 - Lake Grace Project

Section 1 Sampling Techniques and Data

Criteria	JORC Code explanation	Commentary
Samplingtechniques	●Nature & quality of sampling (e.g. cutchannels,randomchips,orspecificspecialised industry standard measurementtools appropriate to the minerals underinvestigation, such as down hole gammasondes, or handheld XRF instruments, etc.).These examples should not be taken aslimiting the broad meaning of sampling.●Include reference to measures taken toensuresamplerepresentivity&theappropriate calibration of any measurementtools or systems used.●Aspectsofthedeterminationofmineralisation that are Material to thePublic Report.●In cases where 'industry standard' work hasbeen done this would be relatively simple(e.g. 'reverse circulation drilling was used toobtain 1 m samples from which 3 kg waspulverised to produce a 30 g charge for fireassay'). In other cases more explanation maybe required, such as where there is coarsegold that has inherent sampling problems.Unusualcommoditiesormineralisationtypes (e.g. submarine nodules) may warrantdisclosure of detailed information.	●Geochemical samples were taken from drill chipsproduced by a reverse circulation (RC) drill rig.Samples were split from the sample stream everymetre as governed by metre marks on the drillstring, by a cone splitter approximating between 7-13% of the full metre of sample. The dust box wasused to control the flow of chips to the cone splitter.●Duplicates were taken every metre from thealternate sample opening on the cone splitter. Thisgave flexibility to where field duplicates wereintroduced into the geochemical sampling streamto the lab and allowed for compositing at any depthor interval.●On a regular basis both sample and duplicate wereweighed with a simple hook based hand held scaleto check for representivity of both the metresampled and the duplicate. This weight was notrecorded, rather used as an in-filed measure to alertdrillers of issues with the cone splitter and drilling.●Samples were collected in calico bags – each bagweighed approximately 1-3kg.●A small (1-2 teaspoon sized) representative samplewas kept of each metre for record purposes.
Drillingtechniques	●Drill type (eg core, reverse circulation, openholehammer,rotaryairblast,auger,Bangka, sonic, etc.) & details (e.g. corediameter, triple or standard tube, depth ofdiamond tails, face-sampling bit or othertype, whether core is oriented & if so, bywhat method, etc.).	●Reverse Circulation drilling was used to obtain 1msamples for the purpose of geological logging andgeochemistry. Compositing was performed forsome geochemical samples (see elsewhere in thistable)●RC sampling completed using a 5.5" diameter drillbit with a face sampling hammer. RC drilling rigswere equipped with a booster compressor.
Drillsamplerecovery	●Method of recording & assessing core & chipsample recoveries & results assessed.●Measures taken to maximise sample recovery& ensure representative nature of thesamples.●Whetherarelationshipexistsbetweensample recovery & grade & whether samplebias may have occurred due to preferentialloss/gain of fine/coarse material.	●RC Drillers were advised by geologists of theground conditions expected for each hole andinstructed to adopt an RC drilling strategy tomaximizesamplerecovery,minimizecontamination and maintain required spatialposition.●Sample recovery is approximated by assumingvolume and rock densities for each metre of the drillhole and back referencing to this for individualmetres coming from the cone splitter.
Logging	●Whether core & chip samples have beengeologically & geotechnically logged to alevel of detail to support appropriate Mineral	●All drilling in this ASX release is by reversecirculation (RC). RC holes are geologically logged ona 1m interval basis. Where no sample is returned

	Resourceestimation,miningstudies&metallurgical studies.●Whetherloggingisqualitativeorquantitative in nature. Core (or costean,channel, etc.) photography.●The total length & percentage of the relevantintersections logged.	due to voids or lost sample, it is logged andrecorded as such. The weathering profile is loggedwith no washing/sieving as well as washed/sievingto identify the transition into fresh rock and toidentify unweathered quartz veins. In fresh rock allRC chips are logged by washing/sieving.●Geological logging is qualitative and quantitative in
		nature.●Visual estimations of sulphides and geologicalinterpretations are based on examination of drillchips from a reverse circulation (RC) drill rig using a20x hand lens during drilling operations. Chips arewashed and sieved prior to logging.●Itshouldbenotedthatwhilst%mineralproportions are based on standards as set out byJORC, they are estimation only and can be
Sub-samplingtechniques &samplepreparation	●If core, whether cut or sawn & whetherquarter, half or all core taken.●If non-core, whether riffled, tube sampled,rotary split, etc.& whether sampled wet ordry.●For all sample types, the nature, quality &appropriateness of the sample preparationtechnique.●Quality control procedures adopted for allsub-samplingstagestomaximiserepresentivity of samples.●Measures taken to ensure that the samplingis representative of the in situ materialcollected, including for instance results forfield duplicate/second-half sampling.●Whether sample sizes are appropriate to thegrain size of the material being sampled.	subjective to individual geologists to some degree.●Geochemical samples were taken from drill chipsproduced by a reverse circulation (RC) drill rig. Allsampling techniques are described above. Thenature and quality of the sampling technique wasconsidered appropriate for the drilling techniqueapplied and for the geochemical analysis sought.●As described above a cone splitter was used to splitsamples from the RC sample stream. The conesplitter was levelled prior to drilling and this levelwas checked at regular intervals throughout thedrilling of each drill hole to ensure representivity ofsample.●A field duplicate was taken for every metre sampledand both duplicate and original sample werechecked in an approximate manner for weight/sizeas a quick measure of sample representivity andthus if the cone splitter was working adequately.●Fieldduplicateswereintroducedintothegeochemical sample submission at approximately 1in 20 samples or 5% of the sample stream.●Prior to analysis, samples were split into those thatneeded to be composited and those that did not,the latter generally being those zones of geologicalinterest or zones of potential mineralisation.●All compositing was completed in the laboratory bylaboratory controlled riffle splitters normally usedfor splitting samples after crushing. It is theexperience of the geologist that a lab controlledenvironment produces a far more representativesplit of each metre sample than what can be
		achieved in the field by hand.●Where intervals were composited, the compositingrepresents 4 m of 1 m RC samples, except at the end

		of the interval where the 'left-over' could represent2 or 3 m of 1 m RC samples.●Blanksandlaboratory-introducedgeochemicalstandards focussed on gold were introduced intothe sample stream at the rate of 1 in 20 or 5% or atsmaller intervals.●At the lab, samples were crushed to a nominal 2mmusing a jaw crusher before being split using a rotarysplitter into 400-700g samples for pulverising.●Samples were pulverised to a nominal >90% passing75 micron for which a 100g sample was thenselected for analysis. A spatula was used to samplefrom the pulverised sample for digestion.●The Bureau Veritas geochemical laboratories inPerth use their own internal standards and blanksas well as flushing and cleaning methods accredited
		by international standards.●Sample sizes and splits are considered appropriateto the grain size of the material being sampled asaccording to the Gi standard formulas.
Qualityofassay data &laboratorytests	The nature, quality & appropriateness of the●assaying & laboratory procedures used &whether the technique is considered partialor total.●Forgeophysicaltools,spectrometers,handheldXRFinstruments,etc.,theparameters used in determining the analysisincluding instrument make & model, readingtimes, calibrations factors applied & theirderivation, etc.●Nature of quality control procedures adopted(e.g. standards, blanks, duplicates, externallaboratory checks) & whether acceptablelevels of accuracy (i.e. lack of bias) &precision have been established.	●Geochemical analyses performed consisted of afour acid digestion and/or peroxide fusion beforeInductively Coupled Plasma Mass Spectrometer(ICPMS) or Inductively Coupled Plasma AtomicEmission Spectrometer (ICPAES). This technique isconsidered a total analysis.●All standards, blanks and field duplicate proceduresare described above.●Acceptable levels of accuracy for the data havebeen achieved. For instance, the total error for Auconcentrations above 10x detection limit was+15.4% to -14.5% (mean difference). This isconsidered within expectations for geochemicalsampling of RC drilling and shows no significant biastowards the positive or negative.
Verificationof sampling &assaying	●The verification of significant intersectionsby either independent or alternative companypersonnel.●The use of twinned holes.●Documentation of primary data, data entryprocedures, data verification, data storage(physical & electronic) protocols.●Discuss any adjustment to assay data.	●Verification of significant intersections as shown bythe results of geochemical analyses has been madevia employees of Sultan Resources internally.●There were no dedicated twinned holes in thisdrilling program.●All geological and geochemical data has beenchecked by both Sultan Resources employees andZephyrProfessionalPtyLtdconsultants.Allgeological and drilling data has been entered into aSultan Resources Access database.
Locationofdata points	●Accuracy & quality of surveys used to locatedrill holes (collar & down-hole surveys),trenches, mine workings & other locationsused in Mineral Resource estimation.●Specification of the grid system used.	●All collar locations presented were finalised using ahand-held differential GPS (DGPS) with base station(currently an Austech ProMark500 and ProFlex500).Accuracy of the DGPS is approximately to 100mm inthe vertical and 50mm on the horizontal.

	●	Quality & adequacy of topographic control.	●	MGA94, Zone 50
			●	Elevation were in AHD (MGA94, Zone 50)
Data spacing& distribution	●	Data spacing for reporting of ExplorationResults.	●	Drilling has been for exploration only, spacing variesbetween targets.
	●	Whether the data spacing & distribution issufficienttoestablishthedegreeofgeological & grade continuity appropriatefor the Mineral Resource & Ore Reserveestimationprocedure(s)&classificationsapplied.
	●	Whethersamplecompositinghasbeenapplied.
Orientation ofdatainrelationtogeologicalstructure	●	Whether the orientation of sampling achievesunbiased sampling of possible structures &the extent to which this is known, consideringthe deposit type.	●	Drill angle details are given in the text and tables oftheASXannouncement.Orientationwasdetermined according to the expected orientationof the exploration target.
	●	If the relationship between the drillingorientation&theorientationofkeymineralised structures is considered to haveintroduced a sampling bias, this should beassessed & reported if material.
Samplesecurity	●	The measures taken to ensure samplesecurity.	●	Allgeochemicalsampleswereselectedbygeologists in the field and sent directly to thelaboratory from the field via a delivery truck ,packaged in bulker bags. Results of geochemicalanalysis were sent directly to the project geologistfor entering into the Access database and foranalysis.
Auditsorreviews	●	The results of any audits or reviews ofsampling techniques & data.	●	Not applicable no audit or review.

Section 2 Reporting on Exploration Results

Criteria	JORC Code explanation	Commentary
Mineraltenement&landtenurestatus	●Type, reference name/number, location &ownership including agreements or materialissues with third parties such as joint ventures,partnerships, overriding royalties, native titleinterests,historicalsites,wildernessornational park & environmental settings.●The security of the tenure held at the time ofreporting along with any known impedimentsto obtaining a licence to operate in the area.	●The Lake Grace Project lies in the easternwheatbelt, approximately 250km east-southeastof Perth. The Project comprises five ExplorationLicences (70/5081, 70/5082, 70/5085, 70/5095and 70/5179) covering an area of approximately690km2 over or near the prospective YandinaShearZonewhichisknowntohostgoldmineralisationelsewhereintheSouthwestTerrane. All licences are held 100% by SultanResources The Lake Grace tenements are subjectto Native Title Claim by the Ballardong People(WAD6181/1998). The North Tarin Rock NatureReserve has a trivial impact the western marginE70/5081.

Explorationdone by otherparties	●	Acknowledgment & appraisal of explorationby other parties.	●	PreviousexplorationovertheLakeGraceapplications has been limited. Work reported wasgenerallygenerativeinnatureandatareconnaissancelevel.Themostdetailedexploration was undertaken by North Ltd duringthe 1990's and is considered to have beenperformed to a high standard.
Geology	●	Deposit type, geological setting & style ofmineralisation.		The Project lies in the Lake Grace Domain of theSouthwest Terrane. It is comprised of granulitefacies granitic gneisses, gneissic remnants ofgreenstone belts, charnokitic granites and posttectonic granites. The greenstone rock sequencesaremetamorphosedtohigh-gradeupperamphibolitetogranulitefacies.Structurallycontrolled gold mineralisation occurs broadly asmultiple,well-definedstackedelongatetoellipsoidal lodes that vary in size from 1-10 m thick,50-150 m wide (east-west) and 50-200 m long(north-south)thathaveundergonepostmineralisation deformation. The gneissic packagedips between 35° to 40° to the southeast andstrikes 040°. The host rocks form an open synformthat plunges 30° toward 120°.
DrillholeInformation	●●	A summary of all information material to theunderstanding of the exploration resultsincluding a tabulation of the followinginformation for all Material drill holes:Easting & northing of the drill hole collaroelevation or RL (Reduced Level – elevationoabove sea level in metres) of the drill holecollardip & azimuth of the holeodown hole length & interception depthohole length.oIf the exclusion of this information is justifiedon the basis that the information is notMaterial & this exclusion does not detractfrom the understanding of the report, theCompetent Person should clearly explain whythis is the case.	●	Not applicable no drill hole information.
Dataaggregationmethods	●●	In reporting Exploration Results, weightingaveragingtechniques,maximumand/orminimum grade truncations (e.g. cutting ofhigh grades)&cut-off grades are usuallyMaterial & should be stated.Where aggregate intercepts incorporate shortlengths of high grade results & longer lengthsof low grade results, the procedure used forsuch aggregation should be stated & sometypical examples of such aggregations shouldbe shown in detail.	●	Not applicable no data aggregation methods

	●The assumptions used for any reporting ofmetal equivalent values should be clearlystated.
Relationshipbetween	●These relationships are particularly importantin the reporting of Exploration Results.	●No true widths have been stated in this ASXrelease, all relate to downhole intercept lengths.
mineralisationwidths&interceptlengths	If the geometry of the mineralisation with●respect to the drill hole angle is known, itsnature should be reported.	●The main zones of mineralisation are interpretedto be shallow-dipping to the northwest, and drillholes were either drilled at steep angles to thesouthwest, or vertical.
	●If it is not known & only the down hole lengthsarereported,thereshouldbeaclearstatement to this effect (e.g.'down hole length,true width not known').
Diagrams	●Appropriatemaps&sections(withscales)&tabulations of intercepts should beincluded for any significant discovery beingreported These should include, but not belimited to a plan view of drill hole collarlocations & appropriate sectional views.	●See drill hole location map accompanying this ASXrelease.
Balancedreporting	●WherecomprehensivereportingofallExplorationResultsisnotpracticable,representative reporting of both low & highgrades and/or widths should be practiced toavoid misleading reporting of ExplorationResults.	●Only observations are reported, see data detailsabove for further information
Othersubstantiveexplorationdata	●Other exploration data, if meaningful &material, should be reported including (butnot limited to): geological observations;geophysicalsurveyresults;geochemicalsurvey results; bulk samples – size&method oftreatment; metallurgical test results; bulkdensity, groundwater, geotechnical & rockcharacteristics;potentialdeleteriousorcontaminating substances.	●Gravity●The bulk of this report relates to the data froma recent Ground gravity survey. Specifications ofthe survey include:●A total of 2156 ground gravity readings wereacquiredbyAtlasGeophysicsforSultanResources Ltd (Sultan) between 23/9/19 and8/10/19.Readings were taken at varyingspacingsalongeast-westlinesmostlypositioned 200m apart. Closer spaced readingswere taken around the Challenger prospect ona 100m x 100m grid●Readings have been corrected to produce aspherical cap bouguer anomaly (SCBA) with allprocessing and imaging using a value of 2.67gm/cc in the bouguer correction●All coordinates used are on the GDA94 datumand projected to MGA50.●Magnetics●8,996line-kmofairbornemagneticandradiometric data have been acquired over theLake Grace and Kulin Hill project areas and arereferred to in this document. Specifics of thesurvey include:●GSWA Registration NumberR71465●Contractor:MagSpec Airborne Surveys●Aircraft: Cessna 206 VH-HIS●Acquisition Date:December 2018●Flight Line Spacing100 m●Flight Line Direction 090 – 270 degrees●Sensor Elevation40 m AGL

		●	Magnetics G-823Magnetometer	Caesium	Vapour
		●	Sample Rate: 0.05 seconds
		●	Resolution: 0.001 nT
		●	Radiometrics	Radiation Solutions RS-500
		●	Crystal Volume Down: 32 L
		●	Channels: 1024
		●	Sample Rate: 0.5 seconds
Further work	●The nature & scale of planned further work(e.g. tests for lateral extensions or depthextensions or large-scale step-out drilling).●Diagrams clearly highlighting the areas ofpossibleextensions,includingthemaingeological interpretations & future drillingareas,providedthisinformationisnotcommercially sensitive.	●	The focus on future work will be to furtherdefine the extents of gold mineralisation and toalso search for higher-grade zones within theextents of the mineralised area. Techniquessuch as detailed ground geophysics and furtherdrilling will be used to achieve this.