SUNSHINE METALS LIMITED — Capital/Financing Update 2021

Feb 17, 2021

ASX Announcement 18 February 2021

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SHALLOW, HIGH-GRADE INTERCEPTS INCLUDING 16M @ 5.48 G/T AU FROM SUPER HANS

Sunshine Gold Limited (ASX:SHN, “ Sunshine Gold ”, “ the Company ”) is pleased to announce first results from RC drilling at Super Hans and further results from infill drilling at Bald Hill West. A total of 3,236m from 32 holes have been drilled in 2021.

HIGHLIGHTS

• Sunshine Gold’s maiden drilling program at Super Hans has intersected a thick, shallow zone of mineralisation with high grades. Results have been returned for the first four of six holes drilled and include:

o 21SHRC002 16m @ 5.48 g/t Au from 34m Including 7m @ 10.64 g/t Au from 34m o 21SHRC003 3m @ 12.95 g/t Au from 30m o 21SHRC001 10m @ 2.96 g/t Au from 11m Including 7m @ 4.06 g/t Au from 11m

 Bald Hill West first pass drilling was completed in January 2021 (13 holes for 1,330m). Results include: o 21BHRC013 2m @ 4.65 g/t Au from 33m Including 1m @ 8.77 g/t Au from 33m o 20BHRC015 2m @ 1.73 g/t Au from 78m

• Triumph drilling to date (16 February 2021) totals 4,598m of a planned 7,500m program.

• Extensive geochemical data review defines new geological concept at Triumph.

Sunshine Gold’s Managing Director, Damien Keys commented: “We are thrilled with the Super Hans drilling results as it has validated our new geological concept at Triumph. The thick, shallow high grade intersections are extremely encouraging and will be followed up in March 2021. The system was previously tested by five RC holes, all of which contained potentially economic-grade intersections. The results validate our new understanding of the geochemistry of the Triumph system, which highlights the Super Hans to New Constitution South corridor as a high-priority target zone. Drilling at Bald Hill West intersected mineralisation in the anticipated lode positions and the results will be incorporated into our new geological concept to plan the next steps.”

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SUNSHINE GOLD LIMITED (ASX:SHN)

Directors: Mr Alec Pismiris Dr Damien Keys Mr Anthony Torresan Mr Paul Chapman Mr Les Davis

Registered Office : Contact: 5 / 16 Nicholson Road T +61 8 6245 9828 Subiaco WA 6008 E info@shngold.com.au Queensland Office : Wwww.shngold.com.au 3/50 Tully Street ABN 12 063 388 821 South Townsville QLD 4810

Capital: Ordinary shares: 356,711,618 Unquoted shares: 88,000,000 (24m Esc) Deferred shares: 100,000,000 (24m Esc) Unlisted options:71,000,000 (24m Esc) Unlisted plan options: 1,000,000 Perf Rights: 17,000,000 (24m Esc)

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ASX Announcement 18 February 2021

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Figure 1: RC Chip tray from 21SHRC002 showing high-grade mineralisa�on.

SUPER HANS

Six holes (420m) were drilled in January 2021 to follow up on previous, shallow, high-grade intersec�ons. Results have been received for four of the six holes and have returned thick intersec�ons including:

o 21SHRC001 10m @ 2.96 g/t Au from 11m Including 7m @ 4.06 g/t Au from 11m o 21SHRC002 16m @ 5.48 g/t Au from 34m Including 7m @ 10.64 g/t Au from 34m o 21SHRC003 3m @ 12.95 g/t Au from 30m o 21SHRC004 4m @ 1.80 g/t Au from 33m and 2m @ 1.81 g/t Au from 53m

the target lode posi�on. The recent results follow up on drilling conducted in 2018 which included:

o TDH124 2m @ 7.57 g/t Au from 1m and 4m @ 2.27 g/t Au from 12m o TDH182 3m @ 6.46 g/t Au from 6m and 3m @ 1.08 g/t Au from 25m o TDH181 3m @ 5.01 g/t Au from 20m o TDH192 22m @ 1.10 g/t Au from 12m Including 6m @ 1.96 g/t Au from 17m o TDH184 3m @ 2.09 g/t Au from 22m

Super Hans is located on the western side of the Norton Fault and is interpreted to be part of a broader shear zone that extends over 5km in strike length, incorporating prospects such as New Constitution South, Big Hans and Bald Hill (offset by the Norton Fault, Figures 3 & 4). The shear zone is undrilled between Super Hans and Big Hans and will be one of the priority targets for the remaining drill program.

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ASX Announcement 18 February 2021

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Figure 2: Long Sec�on through Super Hans.

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Figure 3: RTP Magne�c image showing prospect loca�ons. Pink and red represent the Norton Tonalite.

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ASX Announcement 18 February 2021

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demagni�sed zone (orange) is evident for over 5km from New Cons�tu�on – Super Hans – Bald Hill East.

BALD HILL WEST

Sunshine Gold completed broad spaced, infill drilling at Bald Hill West in January 2021. Thirteen RC holes were drilled for 1,330m adding to the 866m drilled in late 2020. The drilling aimed to infill and extend on previous programs that have yielded results including: 12m @ 13.42 g/t Au (9m, TDH039), 9m @ 3.59 g/t Au (114m, TDH008), and 11m @ 3.03 g/t Au (46m, TDH046).

Results from the thirteen holes include:

o 21BHRC013 2m @ 4.65 g/t Au from 33m Including 1m @ 8.77 g/t Au from 33m o 21BHRC014 2m @ 1.35 g/t Au from 46m o 21BHRC015 2m @ 1.73 g/t Au from 78m o 21BHRC016 4m @ 1.11 g/t Au from 89m o 21BHRC010 2m @ 1.30 g/t Au from 49m

Mineralisa�on was intersected, at or very near to, target depths for each hole drilled. A localised zone of high-grades and thicknesses exists around the 334,930mE sec�on (Figure 6). The localised high-grade is coincident with the intersec�on of a NNW trending induced polarisa�on (IP) chargeability conductor. Further work will be undertaken on the influence of this NNW trending conductor (Figure 7). The intersec�on of the Bald Hill system and the Norton Fault also remains a future target.

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ASX Announcement 18 February 2021

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Figure 5: Long Sec�on through Bald Hill West and Bald Hill Central.

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Figure 6: Cross Sec�on through 334930mE at Bald Hill West.

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EXTENSIVE GEOCHEMICAL DATA REVIEW DEFINES NEW GEOLOGICAL CONCEPT

Professor Nick Oliver (HCOV Consul�ng) was engaged to conduct a review of the exis�ng geochemical database and advise on further geochemical data collec�on. The exis�ng database is comprised of 12,629 compa�ble samples. The data was assessed for altera�on mapping, pathfinder analysis, lithological discrimina�on and stoichiometrically for sulphide and calcite abundance.

As discussed below, there are three important outcomes of this review that will greatly assist future targe�ng, being:

• a. A rela�onship between high-grade gold and intense sericite or potassium feldspar (K-feldspar) altera�on was displayed. The altera�on mapping broadly showed cores of intense K-feldspar altera�on, rimmed by lessening amounts of serici�c altera�on. The strongest zones of K-feldspar altera�on were mapped in a discrete zone through Big Hans and in the corridor extending from Super Hans to New Cons�tu�on South. A short strike length with an intense localised pocket of k-feldspar altera�on was also mapped at Bald Hill and coincides with a discrete IP chargeability conductor (Figure 7).

• b. A strong relationship between Au-As-Sb-Cu-Mo was identified. This relationship was seen across all mineralised prospects and these elements are considered pathfinders to mineralisation, especially when coincidentally elevated.

• c. Sulphide percentage is considered a less reliable indicator of gold mineralisation than alteration mapping. Sulphide abundances (arsenopyrite and pyrite) were estimated from stoichiometric calculations. A weak correlation exists between sulphide percentage and gold endowment but is considered a less reliable indicator of gold mineralisation than the alteration mapping.

Importantly, the review has highlighted the prospectivity of the under-explored south-western prospects – Super Hans, Big Hans, New Constitution and New Constitution South. This area is heavily K-feldpar altered, elevated in As, Sb and Cu with elevated sulphide calculated in sampled holes. The zone also displays strong IP chargeability which is another indicator of higher metal/sulphide abundance (Figure 8).

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Figure 7: Bald Hill strong k-feldspar altera�on (pink) and strong sericite altera�on (yellow) overlaying IP chargeability.

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ASX Announcement 18 February 2021

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Figure 8: New Cons�tu�on South to Super Hans strong k-feldspar altera�on (pink) and strong sericite altera�on (yellow) overlaying IP chargeability.

UPCOMING TRIUMPH DRILLING

First pass drill tes�ng has now been completed at Bonneville, Bald Hill West, Super Hans, Big Hans, New Cons�tu�on and Brigham Young. Approximately 3,000m remains to be drilled of the 7,500m program. In line with the new geological concept, a significant amount of drilling will be refocussed into the Super Hans, Big Hans and New Cons�tu�on systems.

Reconnaissance drilling will also test por�ons of the Norton Fault, especially near the intersec�ons with known mineralisa�on. A small program will also test a coincident geochemical and geophysical target inferred to run parallel to the Norton Fault west of Bald Hill (as labelled in Figure 7).

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ASX Announcement 18 February 2021

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Figure 9: Prospects and key intersec�ons from Triumph

PLANNED ACTIVITIES

• Ongoing : Continuation of 7,500m RC drilling program at Triumph in June 2021 quarter, including:

• completion of 3,000m of RC drilling programs over Super Hans, Big Hans and New Constitution;

• release of Triumph drilling results; and

• continuation of drone surveys over the southern Triumph area.

• February 2021: Interpretation of airborne magnetic survey and integration into targeting models at Hodgkinson.

• March 2021: Audited half-year financial results.

• March 17 - 18 2021: Australian Energy and Minerals Investor Conference.

• March 26 2021: Last date for exercise of Ravenswood West Option.

• March 2021 quarter : Completion of detailed drone surveys over the southern Triumph prospects.

• May 4 - 7 2021 : Sydney RIU Conference.

• June 2021 quarter: Commencement of RC drilling at Hodgkinson.

• July 14 - 16 2021: Noosa Mining & Exploration Investor Conference.

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ASX Announcement 18 February 2021

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Hole ID Area East North RL Dip Azimuth Hole Depth
21BHRC009 Bald Hill West 334,963 7,309,992 138 -65 200 124
21BHRC010 Bald Hill West 335,038 7,309,971 141 -50 200 88
21BHRC011 Bald Hill West 335,045 7,309,987 142 -60 200 118
21BHRC012 Bald Hill West 335,074 7,309,971 154 -60 200 118
21BHRC013 Bald Hill West 335,096 7,309,955 156 -50 200 100
21BHRC014 Bald Hill West 335,105 7,309,947 151 -65 180 118
21BHRC015 Bald Hill West 335,183 7,309,952 154 -55 180 112
21BHRC016 Bald Hill West 335,165 7,309,957 161 -60 200 124
21BHRC017 Bald Hill West 335,158 7,309,937 150 -50 200 88
21BHRC018 Bald Hill West 335,144 7,309,897 167 -60 200 52
21BHRC019 Bald Hill West 335,264 7,309,897 154 -60 200 70
21BHRC020 Bald Hill West 335,239 7,309,945 155 -50 200 100
21BHRC021 Bald Hill West 335,277 7,309,935 167 -60 200 118
21SHRC001 Super Hans 335,793 7,308,350 179 -60 195 58
21SHRC002 Super Hans 335,785 7,308,367 174 -60 185 58
21SHRC003 Super Hans 335,737 7,308,374 170 -50 200 76
21SHRC004 Super Hans 335,735 7,308,367 172 -65 190 100
21SHRC005 Super Hans 335,711 7,308,370 168 -60 190 58
21SHRC006 Super Hans 335,699 7,308,356 161 -60 190 70
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Table 1: Collar loca�ons for Sunshine Gold 2021 Bald Hill and Super Hans drilling.

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Interval
Hole ID From (m) To (m) Intercept (g/t Au)
width (m)
Bald Hill 21BHRC009 75 76 1 0.92
Bald Hill 21BHRC010 49 51 2 1.30
Bald Hill 21BHRC010 58 59 1 1.51
Bald Hill 21BHRC010 67 70 3 0.98
Bald Hill 21BHRC011 103 104 1 0.56
Bald Hill 21BHRC012 66 67 1 0.99
Bald Hill 21BHRC012 92 93 1 1.20
Bald Hill 21BHRC012 102 103 1 0.56
Bald Hill 21BHRC012 105 106 1 0.81
Bald Hill 21BHRC013 28 29 1 0.84
Bald Hill 21BHRC013 33 35 2 4.65
Incl. 33 34 1 8.77
Bald Hill 21BHRC013 39 42 3 0.51
Bald Hill 21BHRC014 40 42 2 1.12
Bald Hill 21BHRC014 46 48 2 1.35
Bald Hill 21BHRC014 52 54 2 0.74
Bald Hill 21BHRC015 35 36 1 1.38
Bald Hill 21BHRC015 78 80 2 1.73
Bald Hill 21BHRC015 93 94 1 1.08
Bald Hill 21BHRC016 81 82 1 0.85
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Interval
Hole ID From (m) To (m) Intercept (g/t Au)
width (m)
Bald Hill 21BHRC016 89 93 4 1.11
Bald Hill 21BHRC017 No significant intercepts
Bald Hill 21BHRC018 No significant intercepts
Bald Hill 21BHRC019 30 31 1 0.51
Bald Hill 21BHRC020 44 45 1 1.71
Bald Hill 21BHRC021 No significant intercepts
Super Hans 21SHRC001 11 21 10 2.96
Incl. 11 18 7 4.06
Super Hans 21SHRC002 34 50 16 5.48
Incl. 34 41 7 10.64
Super Hans 21SHRC002 54 55 1 0.60
Super Hans 21SHRC003 2 6 4 0.58
Super Hans 21SHRC003 30 33 3 12.95
Super Hans 21SHRC003 43 45 2 1.29
Super Hans 21SHRC003 59 60 1 0.66
Super Hans 21SHRC003 69 70 1 0.86
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ENDS

For further informa�on:

Dr Damien Keys Mr Alec Pismiris Managing Director Director & Company Secretary Telephone: +61 428 717 466 Telephone: +61 402 212 532 E-mail: dkeys@shngold.com.au E-mail: alec@lexconservices.com.au

This ASX announcement is authorised for market release by the Board of Sunshine Gold.

Competent Person’s Statement

The informa�on in this report that relates to Explora�on Results is based on, and fairly represents, informa�on compiled by Dr Damien Keys, a Competent Person who is a Member of the Australian Ins�tute of Geoscien�sts (AIG). Dr Keys has sufficient experience that is relevant to the style of mineralisa�on and type of deposit under considera�on, and to the ac�vity being undertaken to qualify as a Competent Person as defined in the 2012 Edi�on of the JORC Code. Dr Keys consents to the inclusion in the report of the ma�ers based on his informa�on in the form and context in which it appears.

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ABOUT SUNSHINE GOLD

Sunshine Gold is focused on its high-quality gold and copper projects in Queensland. Following the recent acquisi�on of XXXX Gold Pty Ltd, Sunshine Gold has secured 100% interest in the Triumph, Hodgkinson and Inves�gator projects.

Triumph Gold Project (EPM18486, EPM19343: 100%)

1. The project is located 50km south of the mining hub of Gladstone and comprises two explora�on permits covering 138km[2] . Triumph is located within the Wandilla Province of the New England Orogen. Nearby large gold deposits include Mt Rawdon (2.8 Moz Au), Mt Morgan (8 Moz Au and 0.4 Mt Cu) and Cracow (2 Moz Au). Triumph is a 15km² intrusion related gold system which has the poten�al to host both discrete high-grade vein deposits and large-scale, shear hosted gold deposits.

Hodgkinson Gold Copper Project (EPM18171, EPM19809, EPM25139, EPM27539, EPM27574, EPM27575: 100%)

Hodgkinson is located 100km north east of Cairns in North Queensland. The project comprises four explora�on permits and two explora�on lease applica�ons covering 365km[2] . The project is situated between the Palmer River alluvial gold field (1.35 Moz Au) and the historic Hodgkinson gold field (0.3 Moz Au) and incorporates the Elephant Creek Gold, Peninsula Gold-Copper and Campbell Creek Gold prospects. Hodgkinson has been extensively explored for tungsten, owing to its proximity to the Watershed and Mt Carbine tungsten deposits, but underexplored for gold. BHP-Utah Interna�onal completed stream sediment sampling across the en�re tenure in the late 1980’s and confirmed that the area was anomalous in gold as well as tungsten.

Inves�gator Copper Project (EPM27344, EPM27345: 100%)

Inves�gator comprises two explora�on permits covering 115km[2] . It is located 110km north of Mt Isa and 12km south of the Mt Gordon Copper Mine. Inves�gator has seen no modern explora�on and importantly, no holes have been drilled in the most prospec�ve stra�graphic and structural posi�ons.

Ravenswood West Gold-Copper-Rare Earths Project (EPM 26041, EPM 26152, EPM 26303, EPM 26304, 100% Under Op�on)

kms of the Ravenswood Mining Centre (4 Moz Au produced, a further 4.3 Moz Au in Resource and 1.8 Moz in Ore Reserves). The Ravenswood Mining Centre was purchased by EMR Capital and Golden Energy & Resources Ltd. (SGX:AUE) from Resolute Mining Ltd. (ASX:RSL) in 2020 for up to $300m and is presently subject to a ~$200m upgrade. In addi�on, there are three other gold mills within 100km, two of which are toll trea�ng (Figure 2).

The Project is highly prospec�ve for intrusion-related and orogenic gold, porphyry gold-copper-molybdenum and rare earth elements. Ravenswood West covers 20-25km of strike along a major fault that links Pajingo (4 Moz) and Ravenswood (8.39.8 Moz) and contains numerous historic gold workings.

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JORC Code, 2012 Edition TABLE 1 – TRIUMPH GOLD PROJECT

Section 1 Sampling Techniques and Data (Criteria in this section apply to all succeeding sections.)

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. • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. • Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases, more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information.	Reverse circulation (RC) drilling was used to obtain samples for geological logging and assaying. Drill holes were sited to test geological interpretation utilising previous drilling results and geophysical & geochemical targets. Individual 1m samples were assayed in altered or mineralised rock, and composites between 2 to 4m in unaltered rock. Composite RC samples were collected by spearing equal amounts of the bulk sample for each metre interval. Care is taken to ensure the spear transects the bulk sample fully to provide a representative cross-section sample of each metre within the composite. Individual samples were collected from the cyclone using an 87.5/12.5 rig-mounted splitter. Once received by the laboratory, sample preparation consisted of the drying of the sample, the entire sample being crushed to 70% passing 6mm and pulverised to 85% passing 75 microns in a ring and puck pulveriser. RC samples were assayed for gold by 50g fire assay with OES finish and multielement analysis of Ag and As completed using an ICP-MS analysis.
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.).	All holes were drilled using Reverse Circulation utilising a 5.5” face sampling RC hammer.
Drill sample recovery	• Method of recording and assessing core and chip sample recoveries and results assessed. • Measures taken to maximise sample recovery and ensure representative nature of the samples. • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	For RC sample recoveries of less than approximately 80% are noted in the geological/sampling log. No such samples were recorded during this drill program. Wet samples are also recorded in the geological/sampling log. Any significant wet zones (>6m) were to be flagged; however no such zones were identified in the drilling. No relationship has been observed between sample recovery and grade.

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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.  Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography. • The total length and percentage of the relevant intersections logged.	All drill holes are geologically logged in full. Geology logs include lithology, alteration, mineralisation, veining and weathering types, styles and intensities. All RC chip trays are photographed.
Sub- sampling techniques, sample preparation	• If core, whether cut or sawn and whether quarter, half or all core taken. • If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry. • For all sample types, the nature, quality and appropriateness of the sample preparation technique. • Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. • Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling. • Whether sample sizes are appropriate to the grain size of the material being sampled.	1m primary RC samples were obtained using a cyclone mounted 87.5:12.5 riffle splitter. Compressed air was used to clean the splitter after each drill rod. 2 to 4m composite samples were obtained manually by spearing bulk samples to approximately 1kg weight per interval. Duplicate samples were taken routinely by spearing the bulk sample for the selected interval. Samples are recorded if dry or wet when collected from the cyclone. QAQC samples (Standards, Duplicates, Blanks) were submitted at a frequency of at least 1 in 10. Sample sizes and preparation techniques are considered appropriate. The sample sizes are considered to be appropriate for the nature of mineralisation within the project area.
Quality of 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. • 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.. • 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.	RC samples were assayed using 50g fire assay for gold which is considered appropriate for this style of mineralisation. Fire assay is considered total assay for gold. No geophysical tools, spectrometers or handheld XRF instruments have been used to determine assay results for any elements. Monitoring of results of blanks and standards is conducted regularly. QAQC data is reviewed for bias prior to inclusion in any subsequent Mineral Resource estimate. Au assays were completed as fire assay analysis and screen fire analysis will be contemplated on a suite of high-grade samples at the end of the drill programme.

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Verification of sampling and assaying	• The verification of significant intersections by either independent or alternative company personnel. • The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Discuss any adjustment to assay data.	Significant intersections are routinely monitored through review of drill chip and by site visits by the Exploration Manager. Data is verified and checked in Leapfrog software. No drill holes were twinned. Primary data is collected via hard copy documentation and subsequently entered into spreadsheet format. This is then validated and uploaded to a secure external database, which in turn has further validation checks. No adjustments have been applied to assay data. The assay laboratory is requested to re-split and re- assay high grade intervals as part of our verification where any concern on results is present with results reported in the relevant table.
Location of data points	• Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. • Specification of the grid system used. • Quality and adequacy of topographic control.	Drill hole collar locations are initially set out (and reported) using a hand-held GPS with a location error of +/- 3m. All completed holes are capped and marked and will be accurately surveyed via DGPS at a later date. The drill rig was aligned at the collar location by the site Geologist using a sighting compass. Down hole surveys were completed using a Reflex digital survey system routinely at intervals of 15m hole depth, 30m hole depth, and every 30m thereafter to end of hole. Measurements were taken as a pull back from the RC hammer at the midpoint of a non-magnetic stainless-steel rod. All drilling is conducted on MGA94 Zone 56 grid system. A topographic survey of the project area has partially been conducted using an in-house drone survey. Collar elevations have not been adjusted to this surface and use the elevation as stated on the GPS device.
Data Spacing and distribution	• Data spacing for reporting of Exploration Results. • 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. • Whether sample compositing has been applied.	The drill holes were sited to test surface geological, geophysical, geochemical and structural targets within a nominal 20m to 40m spaced grid. Drill hole spacing may vary due to logistical reasons, such as available pad locations, and drill hole deviation. The current drill hole spacing in some locations is of sufficient density to establish geological and grade continuity appropriate for a Mineral Resource. A mineral resource estimate will be considered once further drilling is completed. No subsequent sample compositing has been applied on the raw assay results for the reported intervals.

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Orientationof 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. • 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.	The drill holes were orientated in order to intersect the interpreted mineralisation trends as orthogonal (perpendicular) as possible. These trends were determined using surface geology and historical drill hole results. Future drilling is likely to include diamond core to further assess structural relationships.
Sample security	• The measures taken to ensure sample security.	Samples were collected daily in pre-numbered Calico sample bags by the on-site Field Technician and subsequently stored in sealed plastic bags. These were then transported to laboratory upon the completion of 2 – 5 drill holes via a freight company. The samples were stored within a secure freight cage and delivered directly from point of shipping to the laboratory.
Audits or reviews	• The results of any audits or reviews of sampling techniques and data.	The sampling techniques are regularly reviewed during the program and further review will take place prior to future drilling.

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Section 2 – Reporting of Exploration Results (Criteria in this section apply to all succeeding sections.)

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. • 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.	The Triumph project is within EPM18486 and EPM19343, both 100% owned by XXXX Gold Pty Ltd, a wholly owned subsidiary of Sunshine Gold Limited. The tenements are in good standing and no known impediments exist. ML80035 (covering an area of 0.2km) is located within the project area and is excluded from the tenure. Exploration is prohibited within a small area of Category B environmentally protected area as well as a National Park shown in Figure 1. The current approved Environmental Authority (EA) allows for advanced exploration activities to occur up to the National Park (NP) boundary.
Exploration done by other parties	• Acknowledgment and appraisal of exploration by other parties.	AMOCO conducted limited exploration focussing on the Bald Hill vein in 1987. Seven RC holes were drilled at Bald Hill. The bulk of exploration across the tenure has been conducted by Metal Bank Limited and subsidiary Roar Resources between 2012 – 2020). Historical Exploration data and production records were compiled via open file reports accessible via the QLD Geological Survey QDEX system (notably Ball. L.C. 1906. Report on the Norton Goldfields, Queensland Geological Survey Publication 208).
Geology	• Deposit type, geological setting and style of mineralisation.	EPM18486 and EPM19343 overlaps the Calliope and Miriam Vale 1:100,000 map sheets. The style of mineralisation intersected is intrusion related gold mineralisation within the northern New England Orogen.

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Criteria	JORC Code explanation	Commentary
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: o easting and northing of the drill hole collar elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar o dip and azimuth of the hole o down hole length and intercept depth • hole length.	Refer Table 1
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. • 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. • The assumptions used for any reporting of metal equivalent values should be clearly stated.	Unless specified otherwise, a nominal 0.5g/t Au lower cut- off has been applied incorporating up to 3m of internal dilution below the reporting cut-off grade to highlight zones of gold mineralisation. Refer Table 2. High grade gold intervals internal to broader zones of mineralisation are reported as included intervals. No metal equivalent values have been used for reporting exploration results.
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’).	The geometry of the mineralisation is subject to ongoing interpretation and as such intervals are reported in downhole length only. Refer Table 1.

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Criteria	JORC Code explanation	Commentary
Diagrams	• 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.	Refer to figures contained within this report.
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.	All results are presented in figures and tables contained within this report.
Other substantive exploration data	• Other exploration data, if meaningful and material, should be reported including (but not limited to): geologicalobservations; 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 material data is presented in this report.

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