SUNSHINE METALS LIMITED - Capital/Financing Update 2021

ASX Announcement 12 February 2021

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OPTION TO ACQUIRE RAVENSWOOD WEST GOLD-COPPER-RARE EARTHS PROJECT

Sunshine Gold Ltd. (ASX:SHN, “ Sunshine Gold ”, “ the Company ”) is pleased to announce that the Company has entered into a binding option agreement (“ Option ”) to acquire the Ravenswood West Gold-Copper-Rare Earths project (“ Ravenswood West ”) from a wholly owned subsidiary of Stavely Minerals Ltd. (“ Stavely ” (ASX:SVY)), subject to the satisfaction of certain conditions. Key terms of the Option are set out later in this announcement.

HIGHLIGHTS (upon completion)

Significant holding (392 km[2] ) of highly prospective gold-copper ground within 5 kms of the Ravenswood Mining Centre (4 Moz Au produced, a further 5.87 Moz Au in Resource[1] and 2.73 Moz in Ore Reserves[1] ). The Ravenswood Mining Centre was purchased by EMR Capital and Golden Energy & Resources Ltd. (SGX:AUE) from Resolute Mining Ltd. (ASX:RSG) in 2020 for up to $300m and is presently subject to a ~$200m upgrade[2] . In addition, there are three other gold mills within 100km, two of which are toll treating (Figure 2).
Highly prospective 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 (9.8 Moz) and contains numerous historic gold workings.
Quality geological mapping, geophysical and geochemical datasets collected in recent years by Stavely.
Despite being adjacent to >8 Moz of gold endowment, Ravenswood West has seen only limited exploration drilling in the last 40 years.

Sunshine Gold’s Managing Director, Damien Keys, said: “Ravenswood West ticks all of our acquisition drivers; near surface, historic goldfield, big system potential, under explored and close to infrastructure and mining hub workforces. With this acquisition we take a significant, under-explored landholding in a district that has produced over 20 Moz. The project is located 100km south of our Townsville office, laboratories, drillers and is a logical fit in the Sunshine Gold portfolio. Given the strength of rock chip, soil and stream sediment anomalism, we are excited about the potential for a significant discovery.”

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Figure 1. Chalcopyrite-pyrite sulphide mineralisa�on from the Bank – SRD002 124.5m (22.8m @ 0.6% Cu)

February 18 2020, Resolute Mining Ltd. Annual Ore Reserve and Mineral Resource Statement: https://www.rml.com.au/investors/asxannouncements/?fwp _paged=3
April 8 2020, Open-pit plan to create 150 NQ jobs within months: https://www.ravenswoodgold.com/news-reports

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SUNSHINE GOLD LIMITED (ASX:SHN)

Directors: Registered Office : Contact: Capital: Mr Alec Pismiris 5 / 16 Nicholson Road T +61 8 6245 9828 Ordinary shares: 356,711,618 Dr Damien Keys Subiaco WA 6008 E [email protected] Unquoted shares: 88,000,000 Mr Anthony Torresan Queensland Office : Wwww.shngold.com.au Deferred shares: 100,000,000 Mr Paul Chapman 3/50 Tully Street ABN 12 063 388 821 Unlisted options:72,000,000 Mr Les Davis South Townsville QLD 4810 Perf Rights: 17,000,000 *Escrowed to 11 Dec 2022

ASX Announcement 12 February 2021

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BACKGROUND

Ravenswood West is currently owned 100% by a wholly owned subsidiary of Stavely. Exploration by Stavely between 2016-2018 included induced polarisation surveys, rock chip and stream sediment sampling and a successful 5-hole diamond drilling campaign. Stavely has made the decision to divest Ravenswood West in order to focus on their Victorian discovery success.

Ravenswood West is comprised of several historic gold mining areas (including the Dreghorn, Kirkers, Trieste and Conolly Goldfields) situated ~10kms south west of the Ravenswood township and the Ravenswood Mining Centre. Gold has been mined in the Ravenswood district for >150 years with alluvial gold discovered in the area in 1868. PreWorld War 1 gold production is estimated to have been 950,000 oz at a grade of around 30 g/t Au. In modern times, mining resumed in 1987 with production totalling more than 4 Moz gold. The Ravenswood Mining Centre currently hosts a Resource of 5.87 Moz and Ore Reserve of 2.73 Moz[1] .

The Ravenswood Mining Centre has recently been sold by Resolute Mining Ltd. to EMR Capital & Golden Energy and Resources Ltd. (SGX:AUE) for up to $300m and is presently subject to a ~$200m upgrade[2] .

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Figure 2. Location of the Ravenswood West Project

CAUTIONARY STATEMENT

Ravenswood West is not yet owned by Sunshine Gold. Certain conditions precedent are to be satisfied prior to the exercise of the Option and completion of the acquisition.

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ASX Announcement 12 February 2021

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Figure 3. Prospect locations at Ravenswood West

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NEXT STEPS AND IMMEDIATE OPPORTUNITIES

The acquisition is conditional upon the completion of due diligence by 26 March 2021. During the due diligence period, opportunities will be assessed and ranked.

In addition to the usual due diligence activities, a number of big picture assessments will be made, including:
assessment of the four porphyry copper-molybdenum-gold prospects (the Bank, Keane’s, Barrabas and Turkey Gully) to identify copper-gold drilling targets;
immediate potential to establish Resources around the Dreghorn, Kirkers, Connolly and Trieste Goldfields;
high level review of the rare earth elements at the Elphinstone Creek Gold and Rare Earths Prospect to determine an appropriate technical and commercial strategy in relation to the rare earth elements.

RAVENSWOOD WEST OVERVIEW (EPM 26041, EPM 26152, EPM 26303, EPM 26304, 100% Under Op�on)

The Project is considered prospective for porphyry molybdenum/copper and/or gold mineralisation, intrusion related gold mineralisation, breccia-hosted gold mineralisation as well as other hybrid intrusive-related styles of mineralisation including carbonatite-related rare-earths mineralisation.

The dominant rock types within Ravenswood West are typically I-type calcic hornblende-biotite granodiorite to tonalite of the Ravenswood Batholith of Middle Silurian to Middle Devonian age. A major structure, the Mosgardies Shear Zone, cuts east-west through the Ravenswood Batholith adjacent to the Ravenswood, Connolly, Trieste and Dreghorn goldfields. The shear zone is up to 2.5 km wide. The main “Buck Reef” at Ravenswood is contained within the Mosgardies Shear Zone. The majority of faults in the area are transverse to the Morgardies Shear Zone and trend 30° to 40° either side of north. The bulk of the auriferous quartz reefs and leaders are hosted by shears with NW to NS orientation.

Ravenswood West covers 20-25km of strike along a major fault that links Pajingo (4 Moz) and Ravenswood (9.8 Moz) and contains numerous historic gold workings (Figure 4).

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Figure 4. Total magnetic intensity image highlighting major regional structures which extend from

Ravenswood (9.8 Moz) to Pajingo (4 Moz)

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ASX Announcement 12 February 2021

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Porphyry Copper-Molybdenum-Gold Prospects

There are four identified porphyry copper-molybdenum-gold prospects – the Bank, Keane’s, Barrabas and Turkey Gully. Historic drilling is limited to 11 rotary percussion drill holes to a maximum depth of 30m vertical at the Bank and (1967) significant historic drilling at Keane’s (early 1970’s).

At the Bank, Stavely mapped a large multiphase breccia and rock chip samples returned grades up to 0.25 g/t Au, 45.7 g/t Ag and strong arsenic and antimony anomalism (Figure 5). A soil sampling campaign confirmed elevated Au-Ag-As-Bi-Sb-Cu across a 400m x 400m area – similar in dimension to the nearby 1 Moz Au Mt Wright breccia. The strong Au-Ag-As-Bi-Sb-Cu geochemical signature is characteristic of other intrusion-related breccia systems in the region including Mt Wright, Mt Leyshon (3.5 Moz Au) and Kidston (5 Moz Au).

Stavely drilled five diamond holes into the Bank during 2016 and encouragingly, intersected a broad interval in SRD002 (Figure 6) of:

22.8m @ 0.6% Cu (116.9m – 139.7m); including higher grade intervals of; o 12.4m @ 0.95% Cu, 120 ppm Mo and 8.0 g/t Ag (119.0m – 131.4m); including o 6.05m @ 1.31% Cu, 100ppm Mo and 12.4 g/t Ag (122.95m – 129.00m).

The Bank is interpreted to be a sub-volcanic breccia pipe formed by deep-seated explosive fracturing of a column of rock above a porphyry intrusive. Consequently, it is likely that the strong Cu-Mo-Ag mineralisa�on con�nues at depth with poten�ally higher grades and with more extensive mineralisa�on as it nears the porphyry source.

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Figure 5. The Bank Breccia prospect with locations of anomalous rock chips and areas of topographic relief in red

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ASX Announcement 12 February 2021

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Figure 6. Geological map of the Bank Breccia prospect showing locations of five Stavely drilled diamond holes

Historical drill results from Keane’s include:

13.8m @ 0.26% Mo;
0.38m @ 70.3 g/t Ag; and
2.74m @ 0.58 g/t Au and 14.3 g/t Ag.

In addition, rock chip sampling by Stavely in 2017, returned high-grade copper and gold results from Keane’s including 18.3% Cu, 2.48% Cu and 0.94 g/t Au.

Barrabas Creek has also returned rock chip samples to 0.82 g/t Au and 7 g/t Ag.

Dreghorn Goldfield (Figure 7)

There are numerous historic workings south of the Burdekin River in what is known as the Dreghorn Goldfield including Queenslander, Albion, Ellen Ross, Clinker, Sundown, Sunrise, Hidden Treasure and Rejoice. Mineralised quartz + sulphide veins of the Dreghorn Goldfield are hosted in granodiorite and granite phases of the Silurian CarseO-Gowrie Granodiorite.

The Dreghorn mines were worked from 1860 to the early 1870’s. Historic production from the mines was estimated at 1,675 oz Au at 44.1 g/t Au.

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ASX Announcement 12 February 2021

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At the Area 8 prospect, surface rock-chips have returned assay results to 0.65 g/t Au, 106 g/t Ag, 397 ppm arsenic and 837 ppm antimony from crustiform and colloform quartz veins and quartz breccia infill. The quartz textures and geochemical signatures are consistent with a low-sulphidation epithermal gold-silver system. A notable example of a low-sulphidation epithermal gold-silver system in the area is the Pajingo Gold Mine (4 Moz).

Rock chips taken in 2017 returned high-grade gold results from the Albion/Queenslander trend including 68.3 g/t Au and 6.45 g/t Au. The central part of the Dreghorn Goldfield is dominated by parallel NW, NNW and north-trending quartz-calcite-siderite-chlorite-sericite veins. Individual veins extend for 190m to 700m in length.

The Hidden Treasure prospect yielded up to 4.05 g/t Au in rock chip samples and 325 ppb Au in soil samples taken near the historic workings. The area is dominated by WNW trending microgranite dykes and NNW-trending quartz and siderite veins.

Soil and rock chip sampling of the NNW- and NNE-trending Ellen Boss, Ellen Boss East, Rejoice and Percy Keene structures reveals Au+Cu+Bi±As geochemical signatures typical of intrusive-related gold systems as seen at the Ravenswood Mining Centre.

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Figure 7. Dreghorn prospects, rock chip and soil sampling map

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Elphinstone Creek Gold and Rare Earths Prospect

High-grade stream sediment results were returned from reconnaissance sampling in the tributaries of the Elphinstone Creek, including 6.28 g/t Au, 1.1 g/t Au, 0.45 g/t Au and 0.42 g/t Au in an area of widespread anomalism but with no known hard-rock workings (Figure 8). The creek with the gold anomalism sheds off a discrete magnetic anomaly similar to the anomaly seen at Mt Wright (1 Moz).

Stream sediment samples taken in the tributaries to the Barrabas and Elphinstone Creeks also returned highly anomalous rare earth element results. One sample in the vicinity of the high-grade gold results assayed 0.19 g/t gold, 0.31% neodymium, 0.43% lanthanum, 0.91% cerium, 926 ppm praseodymium and 514 ppm samarium. In 2020, the United States Geological Survey published a risk assessment of metals critical to the economic wellbeing and security of the United States ranking in order of criticality: neodymium (No. 3), lanthanum (No. 5), cerium (No. 6) and praseodymium (No. 7).

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Figure 8. Elphinstone Creek stream sediment sampling map

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ASX Announcement 12 February 2021

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Kirkers, Connolly and Trieste Goldfields (Figure 9)

The Kirkers, Connolly and Trieste Goldfields are located on the north side of the Burdekin River, adjacent to the regional Mosgardies Shear. Stavely completed a mapping and rock chip sampling campaign which yielded significant assay results including:

36.6 g/t Au from a 5-10cm thick low-angle quartz vein at Connolly Far North;
5.54 g/t Au and 2.18 g/t Au from quartz veins at Trieste; and
3.71 g/t Au and 1.88 g/t Au from Kirkers.

A large number of low-angle quartz veins observed at surface and in creek exposures at Connolly North and Connolly Far North. Large areas of flat, platy quartz vein float could be indicative of a larger vein system like those at the Sarsfield and Nolans deposits at the Ravenswood Mining Centre, ~15km away.

At Kirkers, rock chip sampling in 2017 returned up to 3.71g/t Au and 536ppm copper from the NE-trending Kirkers vein. Mapping shows the 670m long vein system bifurcates into two or more subparallel veins at the southern end. The mineralised quartz veins contain hematite, galena and chalcopyrite rimmed by chalcocite.

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Figure 9. Kirkers, Connolly North and Trieste rock chip and soil sampling map

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ASX Announcement 12 February 2021

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Kirk Goldfield (Ravenswood North)

First pass rock chip sampling and mapping conducted by Stavely generated significant assay values from the Smiths and Wilbers Hill prospects including:

1.03 g/t Au and 2.07% Cu from Smiths; and
0.43 g/t Au and 262 g/t Ag from Wilbers Hill.

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KEY OPTION TERMS

The Option is between Ukalunda Pty. Ltd., a wholly owned subsidiary of Stavely and XXXX Gold Pty. Ltd. (“XXXX Gold”), a wholly owned subsidiary of Sunshine Gold. Key commercial terms include:

Ukalunda is the 100% owner of the Ravenswood tenements being EPM26041, EPM26152, EPM26303 and EPM26304 encompassing 392 sq kms (“ Tenements ”).
XXXX Gold to pay a $10,000 non-refundable Option fee to Ukalunda (paid).
XXXX Gold to have an exclusive 45-day due diligence period in which to exercise the Option.
Upon the exercise of the Option, XXXX Gold to acquire the Tenements by payment of the amount of $400,000. In addition, Ukalunda to be granted a 1% Net Smelter Royalty based on the applicable AMPLA royalty agreement in respect of gold revenues from the Tenements. XXXX Gold is to retain a pre-emptive right to acquire the royalty.
If XXXX Gold exercises the Option, XXXX Gold is to become liable for existing obligations including Native Title, Aboriginal Heritage, replacement of security bonds and environmental rehabilitation.
The Option is subject to any consents or approvals to the transaction required under Queensland legislation and completion of a formal Option/Sale and Purchase Agreement.

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ASX Announcement 12 February 2021

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The Option is consistent with the strategy outlined in the Company’s Prospectus dated 25 September 2020, where XXXX Gold is focussed on acquiring 100% owned, high quality gold and copper projects in Queensland with acquisition drivers including:

near surface, high-grade, historic goldfields;
large-scale potential; and
under explored.

PLANNED ACTIVITIES

Ongoing: Continuation of 7,500m RC drilling program at Triumph in June 2021 quarter, including:
completion of the 4,000m Bald Hill West infill and Bald Hill Central extensional RC drilling program;
completion of 3,000m of RC drilling programs over Super Hans, Big Hans and New Constitution;
release of Triumph RC 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 2021: Australian Energy and Minerals Investor Conference,
March 2021 quarter: Completion of detailed drone surveys over the southern Triumph prospects.
26 March 2021: Last date for exercise of Ravenswood West Option.
May 2021: Sydney RIU Conference presentation.
June 2021 quarter: Commencement of RC drilling at Hodgkinson.

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: [email protected] E-mail: [email protected]

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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ASX Announcement 12 February 2021

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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%)

1879-1941. 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 goldfield (1.35 Moz Au) and the historic Hodgkinson goldfield (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)

Ravenswood West is comprised of a significant holding (392 km[2] ) of highly prospective gold-copper ground within 5 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:RSG) in 2020 for up to $300m and is presently subject to a ~$200m upgrade. In addition, there are three other gold mills within 100km, two of which are toll treating (Figure 2).

The Project is highly prospective 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 (9.8 Moz) and contains numerous historic gold workings.

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Sunshine Gold project loca�ons

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JORC Code, 2012 Edition TABLE 1 – RAVENSWOOD WEST PROJECT

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

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Criteria JORC Code explanation Commentary
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	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.	Soil sampling was conducted in the Dreghorn area and Bank Breccia area at the Ravenswood Project. Rock Chip was conducted at a number of prospects within the Ravenswood Project, including at the Albion/ Queenslander, Hidden Treasure, Kean’s, and Wilbur’s Hill/ Powerline Prospects. Stream Sediment sampling was conducted along the Barrabas and Elphinstone Creeks and their tributaries. The soil samples were taken at 80m intervals along variably spaced lines. The grid co-ordinates for the samples were planned in MapInfo. A handheld GPS was used to navigate to each sample point. A pick was used to obtain an approximately 1 kg soil sample at a depth of between 10 cm and 20cm, so as to obtain a sample of the B soil horizon. The sample was then sieved using a coarse mesh (-2mm) sieve to remove organic matter and rock fragments. The sieved sample was placed in a numbered zip- lock bag and subsequently into an alike numbered calico bag. A sample data sheet was filled in at the sample site, which for each sample included the date, grid, sampler names, sample number, RL, soil type, regolith, substrate and comments. Sample preparation was completed by Stavely Minerals’ personal. Preparation involved mechanical sieving using a -80 mesh sieve stack to produce an approximately 100g to 150g sample, which was weighed on a digital kitchen scale and was subsequently placed in a corresponding numbered brown paper geochem bag. Damp 100 – 150g -80 mesh samples were submitted to ALS Laboratory in Townsville. The stream sediment samples were taken from a reasonably straight section of the stream away from turbulent flow. The surface sand was removed, and a sample was taken from a depth of between 5 and 20cm. The sample was sieved with a 4mm mesh to remove the larger fraction and placed in labelled calico bags. Sample preparation was completed by Stavely Minerals’ personal. Preparation involved mechanical sieving using a -80 mesh sieve stack to produce an > 100g sample, which was weighed on a digital kitchen scale and was subsequently placed in a corresponding numbered brown paper geochem bag. Damp samples were sun dried prior to sieving. The fines were submitted to ALS Laboratory in Townsville. The rock-chip samples were also submitted to ALS Laboratory in Townsville. samples were sun dried prior to sieving. The fines were submitted to ALS Laboratory in Townsville. The rock-chip samples were also submitted to ALS Laboratory in Townsville. Bank Breccia Drilling Half core samples of sulphide bearing intervals (plus 5 metres above and below) of the drill core was sampled and submitted to the laboratory for analysis. Sample intervals were based on lithology but in general were 1m. No intervals less than 0.4m or greater than 1.2m.

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Criteria	JORC Code explanation	Commentary
Sampling techniques	Include reference to measures taken to ensure sample representativity and the appropriate calibration of any measurement tools or systems used.	Sample representativity was ensured by a combination of Company Procedures regarding quality controls (QC) and quality assurance/ testing (QA). For drilling, certified standards and blank samples were submitted to the laboratory with the samples. Noranda Australisa Limited reported in 1968 that the sampling was considered to be fairly representative of the first 100 feet (30m).
	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 (eg ‘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 (eg submarine nodules) may warrant disclosure of detailed information.	Soil and stream sediment sampling techniques are considered industry standard for the Ravenswood Project work programmes.
Drilling techniques	Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic etc) and details (eg 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).	Bank Porphyry Prospect In 1967 Asarco Australia drilled 11 rotary percussion holes in the prospect for a total of 942 feet (278m) – maximum was 100 feet (30.5m) vertical and sank three shallow pits along the 2000 feet of mineralisation. Bank Breccia Prospect Diamond drilling was conducted at Hamishs Hill (SRD001) and the Bank Breccia (SRD002) used PQ (85mm internal diameter) and HQ (63.5mm internal diameter) drill bits. Diamond drilling was standard tube. Diamond core was orientated but he Reflex ACT III core orientation tool.

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Criteria	JORC Code explanation	Commentary
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed.	No details are available for the historical drill holes. Diamond core recoveries were loffed and recorded in the database. Core recoveries for the diamond drill holes are excellent.
	Measures taken to maximise sample recovery and ensure representative nature of samples	No details are available for the historical drill holes. Diamond core is reconstructed into continuous runs on an angle iron cradle for orientation markings. Depths are checked against the depth given on the core blocks and rod counts are routinely carried out by the driller.
	Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to a preferential loss/gain of fine/coarse material.	No details are available for the historical drill holes. No analysis has been undertaken as yet regarding whether bias may have occurred due to preferential loss/gain of fine/coarse bit is not considered to have a material effect given the competent nature of the core.
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.	No details are available for the historical drill holes. Geological logging of samples following Company and industry common practice. Qualitative logging of samples including (but not limited to); lithology, mineralogy, alteration, veining and weathering. Diamond core logging included additional fields such as structure and geotechnical parameters. Magnetic Susceptibility measurements were taken for each 1m diamond core interval.

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JORC Code
Criteria Commentary
explanation
Whether logging is No details are available for the historical drill holes.
qualitative or
All logging is quantitative, based on visual field estimates.
quantitative in nature.
Core (or costean, Systematic photography of the diamond core in the wet and
dry form was completed.
channel, etc.)
photography.
• The total length and No details are available for the historical drill holes.
percentage of the
relevant intersections Detailed diamond core logging, with digital capture was
conducted for 100% of the core.
logged.
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Criteria JORC Code explanation Commentary	Criteria JORC Code explanation Commentary	Criteria JORC Code explanation Commentary
Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography. No details are available for the historical drill holes. All logging is quantitative, based on visual field estimates. Systematic photography of the diamond core in the wet and dry form was completed.
• The total length and percentage of the relevant intersections logged. No details are available for the historical drill holes. Detailed diamond core logging, with digital capture was conducted for 100% of the core.
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.	• No details are available for the historical drill holes.  The half core for the HQ diameter was sampled at Terra Search’s yard in Townsville, Queensland. • Company procedures were followed to ensure sub sampling adequacy and consistency. These included (but were not limited to), daily work place inspections of sampling equipment and practices. • Blanks and certified reference materials are submitted with the samples to the laboratory as part of the quality control procedures. • No second-half sampling has been conducted at this stage. • Sample sizes are considered to be appropriate to coreectly represent the sought mineralisation.

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JORC Code
Criteria Commentary
explanation
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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.	•The sieved -80 mesh soil and stream sediment samples as well as the rock chip samples were analysed for gold by Method Au-TL43 and for a range of multi-elements by Method ME-MS61 at Australian Laboratory Services (“ALS”) in Townsville, Queensland. In addition the stream sediment samples were analysed for REE by Method Me- MS61r. No sample preparation was required for the soil and stream sediment samples by the laboratory. The rock chip samples required comminution and pulverisation at the laboratory. Gold by Method Au-TL43, is by aqua regia extraction with ICP-MS finish. Up to a 25g sample is digested in aqua regia, and the acid volume is partially reduced by evaporation. The solution is diluted to volume and mixed thoroughly. Gold content is measured by ICP mass spectrometry. Alternatively, an aliquot is taken, a complexing agent added and the gold complex is extracted into an organic solvent. Gold concentration can be measured by flame AAS using matrix matching standards. The selected multi-elements by Method ME-ICP43 are analysed by using an aliquot of the gold digestion liquor Au-TL43 for simultaneous analysis by ICP Atomic Emission Spectrometry. The determination of gold by aqua regia digest offers very low detection limits, making it an attractive option for soil and stream sediment sampling surveys. Aqua regia effectively dissolves both native gold as well as gold bound in sulphide ore minerals and various oxide minerals. Aqua Regia is a partial digestion method and will not digest silicate minerals present in the sample. The samples were analysed by multielement MS Analysis - Method ME-MS61. A 0.25g sample is pre-digested for 10-15 minutes in a mixture of nitric and perchloric acids, then hydrofluoric acid is added and the mixture is evaporated to dense fumes of perchloric (incipient dryness). The residue is leached in a mixture of nitric and hydrochloric acids, the solution is then cooled and diluted to a final volume of 12.5mls. Elemental concentrations are measured simultaneously by ICP Atomic Emission Spectrometry. This technique approaches total dissolution of most minerals. For the stream sediment samples a full suite of rare earth elements were analysed. The over-range Ce (>500ppm) and Nd (>10,000ppm) were analysed by method ME-MS81h.

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	Criteria	JORC Code explanation	Commentary	Commentary
			Drilling The core samples were analysed by multielement ICPAES Analysis – Method ME-ICP61. A 0.25g sample is pre-digested for 10-15 minutes in a minutes in a mixture of nitric and perchloric acids, then hydrofluoric acid is added and the mixture is evaporated to dense fumes of perchloric (incipient dryness). The residue is leached in a mixture of nitic and hydrochloric acids, the solution is then cooled and diluted to a final volume of 12.5mls. Elemental concentrations are measured simultaneously by ICP Atomic Emission Spectrometry. This technique approaches total dissolution of most minerals and is considered an appropriate assay method for vein-hosted and breccia hosted sulphide mineralisation. The core samples were also analysed for gold using Method Au-AA23. Up to a 30g sample is fused at approximately 11000C with alkaline flues including lead oxide. During the fusion process lead oxide is reduced to molten lead which acts as a collector for gold. When the fused mass is cooled the lead separates from the impurities (slag) and is placed in a cupel in a furnace at approximately 900oC. The lead oxidizes to lead oxide, being absorbed by the cupel, leaving a bead (prill) of gold, silver (which is added as a collector) and other precious metals. The prill is dissolved in aqua regia with a reduced final volume. Gold content is determined by flame AAS using matrix matched standards. For samples which are difficult to fuse a reduced charge may be used to yield full recovery of gold. This technique approaches total dissolution of most minerals and is considered an appropriate assay method for detecting gold mineralisation. Historical Stream Sediment Sampling BHP Exploration -2mm stream sediment samples were analysed for Au by active cyanide solvent extraction, carbon rod finish. This is a partial extraction technique. The -80# stream sediment samples were analysed for a range of base-metal, indicator and rare-earth elements including Ag, As, Cu, Fe, Mn, Mo, Pb, Zn, P, Cd, V and Zr using aqua-regia/ perchloric digestion and ICPOES determination with Th, Ce, Dy, Er, Eu, Gd, Ho, La, Nd, Pr, Sm, Tb, Tm and Yb analysed using aqua- regia/perchloric/hydrofluoric digestion and ICPOES determination. Historical Rock-chip Sampling BHP Exploration’s rock chip samples were analysed using an aqua-regia digestion and AAS determination for Au (0.001), Cu (0.5), Pb (0.5), Zn (0.5), Ag (0.1), As (5), Mo (1), Bi (1) and Sb (2) – ppm detection limit in brackets.
		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.	NA

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JORC Code
Criteria Commentary
explanation
Nature of quality Soil and Rock chip Samples
control procedures
The analytical laboratory provide their own routine quality
adopted (eg
controls within their own practices. The results from their
standards, blanks,
duplicates, external internal validations were provided to Stavely Minerals.
laboratory checks) and Drilling
whether acceptable
Laboratory QAQC involved the submission of standards and
levels of accuracy (ie
lack of bias) and blanks. For each 20 samples, either a Certified Reference
Material (CRM) standard or a blank was submitted.
precision have been
established. The analytical laboratory also provide their own routine
quality controls within their own practices. The results from
their own validations were provided to Stavely Minerals.
Results from the CRM standards and the blanks gives
confidence in the accuracy and precision of the assay data
returned from ALS.
Historical Stream Sediment Sampling
No quality control is available for the BHP Exploration stream
sediment sampling programme assay data.
Historical Rock-chip Sampling
No quality control is available for the BHP Exploration rock-
chip sampling programme assay data.
Verification The verification of Stavely Mineral’s Managing Director has visually verified significant
significant intersections in the core at Hamish’s Hill, The Bank Breccia and
of sampling intersections by either Chalcedony Hill.
and independent or
assaying alternative company
personnel.
The use of twinned
holes. No holes have been twinned.
Documentation of The Bank Breccia Prospect
primary data, data Soil and Rock chip sampling
entry procedures, Primary data was collected for soil sample and rock chip samples
data verification, data using a paper sample sheet. The sampling data was subsequently
storage (physical and entered into an excel spreadsheet. The information was then sent to
electronic) protocols.
a database consultant for validation and compilation into a SQL
database.
Drilling
Primary data was collected for drill holes using the OCRIS logging
template on Panasonic Toughbook laptop computers using lookup
codes. The information was sent to a database consultant for
validation and compilation into a SQL database.
Bank Porphyry Prospect
No details are available for the historical drill holes.
Discuss any No adjustments or calibrations were made to any assay data used in
adjustment to assay this report.
data.
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Criteria JORC Code explanation Commentary
Location of • Accuracy and quality of surveys The Bank Breccia Prospect
data points used to locate drill holes (collar and
NA
down-hole surveys), trenches, mine
workings and other locations used in Bank Porphyry Prospect
Mineral Resource estimation.
No details are available for the historical drill holes.
The Bank Breccia Prospect
Drill collar locations were pegged before drilling
and surveyed using a Garmin handheld GPS to
accuracy of +/- 3m. Collar surveying was performed
by Stavely Minerals personnel. This is considered
appropriate at this early stage of exploration.
The diamond holes down-hole single shot surveys
were conducted by the drilling contractor. Surveys
were conducted at approximately every 30m down-
hole.
• Specification of the grid system The grid system used by Stavely Minerals is GDA94,
used. zone 54. Locations in previous exploration by BHP
were in AMG84.
• Quality and adequacy of The RL was recorded for each soil sample location,
topographic control. rock chip location and drill hole collar from the
GPS. Accuracy of the GPS is considered to be within
5m.
No details are available for the historical drill holes.
Data Spacing • Data spacing for reporting of Soil Sampling
Exploration Results.
and The soil spacing is shown in the figures in the text.
distribution Nominally 100m x 100m.
Drilling
Variable drill hole spacings were used to test targets
which were determined from geochemical, geophysical
and geological data.
• Whether the data spacing and Drilling reported in this announcement is of an early
distribution is sufficient to establish greenfields exploration nature and has not been used to
the degree of geological and grade estimate any mineral resources or ore reserves.
continuity appropriate for the
Mineral Resource and Ore Reserve
estimation procedure(s) and
classifications applied.
• Whether sample compositing has Sample intervals were based on lithology but in general
been applied. were 1m. No intervals were less than 0.4m or greater
than 1.2m. No details are available for the historical drill
holes.
Criteria JORC Code explanation Commentary
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Orientation • Whether the orientation of Soil Sampling
sampling achieves unbiased
of data in sampling of possible structures and The soil sampling grid was not orientated (100m
relation to the extent to which this is known, by 100m sampling) and is considered to have
considering the deposit type. achieved unbiased sampling.
geological
structure • If the relationship between the Drilling
drilling orientation and the At Hamish’s Hill, diamond drill hole SRD001 was
orientation of key mineralised orientated at -60o towards 353o magnetic
structures is considered to have azimuth to intercept the breccia. The hole was
introduced a sampling bias, this positioned to test at depth rock chip samples
should be assessed and reported if which returned up to 0.5 g/t Au, 28.5 g/t Ag and
material. 7740 ppm Pb, which are coincident with a Au-
Ag-Sb-As-Cu soil anomaly. Information obtained
from SRD002 into the Bank Breccia would
suggest that the breccia dips to the north west
and that SARD001 may have been drilled
beneath and sub-parallel to the mineralisation.
At the Bank Breccia, diamond drill hole SRD002
was oriented at -60o towards 130o magnetic
azimuth to intercept the breccia. The hole was
positioned to test at depth rock chip samples
which returned up to 0.25 g/t Au and 45.7 g/t
Ag, which are coincident with a Ag-Sb-As-Cu-Bi
soil anomaly. Logging of the drill hole would
indicate that the breccia dips to the north west
and that the mineralisation was intersected
perpendicularly.
No details are available for the historical drill
holes.
There is insufficient drilling data to date to
demonstrate continuity of mineralised domains
and determine if any orientation sampling bias
can be identified in the data.
Sample • The measures taken to ensure No available data to assess security for the
sample security. historical drilling, stream sediment or rock-chip
security sampling.
Soil and rock chip samples
The brown paper geochem sample bags
containing the sieved soil samples were packaged
in a sealed cardboard box for hand delivery to ALS
in Townsville, Queensland.
The rock chip samples in numbered calico sample
bags in a poly-weave bag were delivered by hand
to ALS in Townsville, Queensland. Approximately
10 calico sample bags per poly-weave bag. At the
laboratory the samples are stored in a locked yard
before being processed and tracked through
preparation and analysis.
Drilling
Samples were hand delivered in closed poly-
weave bags by Terra Search contractors to the ALS
laboratory in Townsville. At the laboratory the
samples are stored in a locked yard before being
processed and tracked through preparation and
analysis.
Audits or • The results of any audits or • No audits or reviews of the data management
reviews of sampling techniques and system has been carried out.
reviews
data.
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Section 2 – Reporting of Exploration Results (Criteria in this section apply to all succeeding sections.)

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Criteria JORC Code explanation Commentary
• Type, reference name/number, EPM26041, EPM26152, EPM26303 and EPM26304
Mineral location and ownership including are part of the Ravenswood Project, in north
tenement and agreements or material issues with Queensland.
third parties such as joint ventures,
land tenure EPM26041 was granted to Ukalunda Pty Ltd on 24
partnerships, overriding royalties,
status native title interests, historical sites, May 2016. Ukalunda Pty Ltd is a wholly owned
subsidiary of Stavely Minerals Limited. The Podosky’s
wilderness or national park and
prospect is located on excised mining lease ML 10315
environmental settings.
which is held by Kitchener Mining NL, which is owned
by Haoma Mining NL.
EPM26152 was granted to Ukalunda Pty Ltd on 15
September 2016.
EPM26303 and EPM26304 were granted to Ukalunda
Pty Ltd on 23 March 2017.
EPM26041, EPM26152, EPM26303 and EPM26304
are subject to the Birriah People Native Title Grant.
The Ravenswood Project is located 10 km to the west
of the Ravenswood Mine. The Mingela-Ravenswood-
Burdekin Dam road passes through the Project. The
Burdekin River runs through the Project area.
Part of the Project falls within the Burdenkin Dam
catchment area.
• The security of the tenure EPM26041 was granted on 24 May 2016 and is due
held at the time of reporting to expire on 23 May 2021. A renewal application has
along with any known been lodged for EPM26041.
impediments to obtaining a
EPM26152 was granted on 15 September 2016 and is
licence to operate in the area.
due to expire on 14 September 2021.
EPM26303 and EPM26304 were granted on 23
March 2017 and are due to expire on 22 March 2022.
• Acknowledgment and appraisal There has been almost continuous exploration
Exploration of exploration by other parties. activity in the Ravenswood area since the mid-
done by other 1960’s. Initially activities were focused on Cu_Mo
exploration and then from the early 1980’s for Au.
parties
Exploration companies active in the area included
North Broken Hill, New Consolidated Goldfields,
Norranda, Planet, Kennecott, Geopeko, ESSO,
Newmont, Poseidon Exploration, Placer Exploration,
BHP Minerals, Aurora and more recently Carpentaria.
Historical exploration activities have been mainly
regional in nature with multiple drainage surveys
including – 80# stream sediment and BLEG sampling
programmes.
Four prospects within EPM26041 have had detailed
follow-up exploration – Boori, The Bank, Keane’s and
Gargarin. Some shallow drilling has been done and
results indicate narrow zones of sub-economic
mineralisation e.g. Keane’s prospect returned
multiple zones of <20cm width at +0.5%Mo with the
widest intersection in hole R3 of 15m at 0.26% Mo.
At the Podosky’s prospect exploration was
conducted by Haoma Mining NL in 2003 and 2004. RC
drilling was conducted as well as a review of an
Criteria JORC Code explanation Commentary
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earlier IP geophysical survey. In 2003 Haoma
completed a resource model on the Podosky’s
prospect and estimated 50,903t at 4.95 g/t
gold.
The historic Dreghorn goldfield is located on
EPM26303. The largest historic producers were
Ellen Boss, Albion and Queenslander. Soil, rock
chip and channel sampling as well as RC drilling
by Haoma Mining delineated multiple narrow
structurally controlled gold-rich quartz veins
and copper anomalies.
The historic Kirk Goldfield is partially located on
EPM26304. Historic shallow RAB and RC drilling
by Ashton Gold returned one to fifteen metre
intercepts of up to 426g/m gold from the
Himalaya, Crescent and Margaret veins.
Previous workings and drill holes indicate that
the Himalaya vein extends 1,500m north into
EPM26304 and has an average thickness of
0.36m to at least 200m depth.
The historic Trieste goldfield is partially located
on EPM26041 and EPM26303. Previous work by
MIM Exploration and Carpenteria Gold included
a grid soil survey and limited RC holes and
costeans.
• Deposit type, geological setting The dominant rock types within EPM26041 are
Geology and style of mineralisation. typically I-type calcic hornblende-biotite
granodiorite to tonalite of the Ravenswood
Batholith of Middle Silurian to Middle Devonian
age. A major structure, the Mosgardies Shear
Zone, cuts east-west through the Ravenswood
Batholith adjacent to three gold centres. The
shear zone is up to 2.5km wide. The main reef
at Ravenswood, the “Buck Reef”, is contained
within the Mosgardies Shear Zone.
The Dreghorn goldfield is characterised by
north northeast- to northwest trending
massive, laminated, sheeted and brecciated,
granodiorite-hosted quartz+carbonate veins
with trace galena and chalcopyrite within the
Silurian Carse-O-Gowrie Granodiorite. Highest
gold concentrations, eg. 68.3ppm Au occur in
NNW- to north-oriented vein segments,
indicating maximum dilation in this favourable
orientation. The NNW- and NNE-trending Ellen
Boss, Ellen Boss East, Rejoice and Percy Keene
structures have Au+Cu+Bi±As geochemical
signatures typical of Charters Towers-style
granite-hosted gold.
At the Kirk goldfield, north-trending
quartz+sulphide veins are hosted by the
Ordovician Kirklea Granite.
The Trieste goldfield is characterised by
northwest-north-and northeast trending
quartz+sulphide veins in the Carse-O-Gowrie
Granodiorite.
The Bank Breccia pipe is considered to be analogous
with the Mt Wright Gold Mine (~1Moz) and the
Welcome breccia pipe (210koz).
Criteria JORC Code explanation Commentary
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		The Mt Wright breccia complex comprises granite, polymict and rhyolite breccias, as well as rhyolite and tuffsite intrusives, and is approximately 350m in diameter, and at least 1200m deep. The complex is positioned near the contact between the Ordovician Millaroo Granite and Glenell Granodiorite of the Ravenswood Batholith. The main rhyolite body/spine (which hosts the bulk of the mineralisation) is texturally complex, but generally evolves from massive at depth and/or in the core of the spine, to flow banded, and (auto) brecciated variations with decreasing depth and/or proximity to the margins. Most of the gold occurs with marcasite, pyrite and minor pyrrhotite mineralisation as breccia and vug fill, veins and disseminations. . This broadly grades into carbonate-sphalerite-galena- chalcopyrite mineralisation, and decreasing gold, towards the surface and also laterally away from the rhyolite. The Welcome deposit is hosted within the Ordovician Mingela Granodiorite of the Ravenswood batholith, with numerous NNE trending micro-granodiorite (porphyry) to diorite dykes, also of an Ordovician age in the area. The breccia is a well-defined pipe, approximately 20m by 50m across and dips steeply at between 75o and 85o to the NE. Clasts are predominantly granodiorite, with minor micro-granodiorite, andesite and rarely rhyolite. A vein array extends up to 30m beyond the edge of the breccia and includes proximal quartz-carbonate-sulphide shear and sheeted (tension) veins and distal chlorite-carbonate shear veins. Gold mineralisation is hosted within both the breccia and in the adjacent vein array, and is associated with quartz-carbonate- pyrite-sphalerite +/- chalcopyrite-galena.
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 o hole length.	• A table of all drill hole significant exploration results are provided for Hamish’s Hill, The Bank Breccia and Chalcedony Hill prospects in the body of the text. The table includes:- • Collar coordinates in GDA94 Zone 55, • RL, • Dip and Azimuth of hole • Total hole depth, • Length weighted average grade for Au g/t, Ag g/t, Cu % and Mo ppm. No details are available for the historical drill holes.

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• In reporting Exploration Results, Exploration results are nominally reported where
Data weighting averaging techniques, copper results are greater than 0.2% Cu, significant
aggregation maximum and/or minimum grade intersections have a minimum down-hole width of 5
truncations (e.g. cutting of high metres, internal dilution of up to 4 metres has been
methods
grades) and cut-off grades are incorporated to allow continuity of significant
usually Material and should be intercepts while additional intervals may be included
stated. if they are considered to form part of the overall
mineralised zone.
• Where aggregate intercepts
incorporate short lengths of high- No top-cutting of high grade assay results has been
grade results and longer lengths of applied, nor was it deemed necessary for the
low grade results, the procedure reporting of significant intersections.
used for such aggregation should be
stated and some typical examples of
such aggregations should be shown No details are available for the historical drill holes.
in detail.
In reporting exploration results, length weighted
• The assumptions used for any averages are used for any non-uniform intersection
reporting of metal equivalent values sample lengths. Length weighted average is (sum
should be clearly stated. product of interval x corresponding interval grade %)
divided by sum of interval length.
No metal equivalent values are used for reporting
exploration results.
Relationship • These relationships are There is insufficient drilling data to date to
particularly important in the demonstrate continuity of mineralised domains
between
reporting of Exploration Results. and determine the relationship between
mineralisation • If the geometry of the mineralisation widths and intercept lengths.
widths and mineralisation with respect to the Mineralisation results are reported as “down
hole” intervals as true widths are not yet
intercept drill hole angle is known, its nature known.
should be reported.
lengths
• If it is not known and only the There is insufficient drilling data to date to
demonstrate continuity of mineralised domains
down hole lengths are reported, and determine the relationship between
there should be a clear statement to mineralisation widths and intercept lengths.
this effect (e.g. ‘down hole length,
true width not known’). Mineralisation results are reported as “down hole”
intervals as true widths are not yet known.
Diagrams • Appropriate maps and sections • Refer to figures contained within this report.
(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.
Balanced • Where comprehensive All drill hole results received have been
reporting of all Exploration reported in this announcement. No holes are
reporting Results is not practicable, omitted for which complete results have been
representative reporting of received.
both low and high grades
and/or widths should be
practiced, to avoid misleading
reporting of Exploration
Results.
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Other substantive exploration data	• Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	•No other material data is presented in this report.
Further Work	•The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling). •Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	Further work plans will be announced at the conclusion of the due diligence period.

TABLE OF DRILL COLLARS – THE BANK PROSPECT

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Hole ID Hole East North RL Dip Azi Total From To Width Cu Mo Au
Type Depth
(m) (m) (m) (m) (%) (ppm) (g/t)
SRD001 DD 479939 7771283 210 -60 0 340 NSI
SRD002 DD 480045 7771233 210 -60 130 315 116.9 139.7 22.8 0.6
incl. 119 131.4 12.4 0.95 120 8
incl. 122.95 129 6.05 1.31 100 12.4
SRD003 DD 480113 7771366 210 -60 100 301 NSI
SRD004 DD 479945 7771282 210 -60 130 420 242.4 243 0.6 0.67
SRD005 DD 480027 7771438 210 -60 240 372 171 172 1 3.55 304
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TABLE OF ROCK CHIP SAMPLES

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SampleID Date_Sampled NAT_Grid_ID NAT_North NAT_East Au_ppb Ag_ppm Cu_ppm Sb_ppm
RSL10001 11/07/2016 MGA94_55 7770802 479952 1 0.01 4.3 4.31
RSL10002 11/07/2016 MGA94_55 7770805 480049 -1 0.02 7.1 8.54
RSL10003 11/07/2016 MGA94_55 7770804 480049 3 0.88 264 41
RSL10004 11/07/2016 MGA94_55 7770800 480061 1 0.02 6.4 17.3
RSL10005 11/07/2016 MGA94_55 7770979 479347 1 0.06 13.6 44
RSL10006 11/07/2016 MGA94_55 7770959 479420 1 0.04 6 1.88
RSL10007 11/07/2016 MGA94_55 7770808 480029 1 0.05 36.8 9.93
RSL10008 11/07/2016 MGA94_55 7775739 476102 2 0.14 97.5 0.61
RSL10009 11/07/2016 MGA94_55 7771138 480110 1 0.2 28.6 0.27
RSL10010 11/07/2016 MGA94_55 7771155 480115 5 1.37 153 0.85
RSL10011 11/07/2016 MGA94_55 7775006 476114 1 0.06 17.3 0.11
RSL10012 11/07/2016 MGA94_55 7771084 480130 1 0.01 573 6.18
RSL10013 11/07/2016 MGA94_55 7771256 480159 7 0.17 47.4 4.58
RSL10014 11/07/2016 MGA94_55 7775549 478297 817 6.73 970 7.64
RSL10015 11/07/2016 MGA94_55 7775549 478298 10 0.76 150.5 3.3
RSL10016 11/07/2016 MGA94_55 7775554 478305 101 8.04 1770 1.88
RSL10017 11/07/2016 MGA94_55 7775554 478304 120 5.5 4730 7.56
RSL10018 11/07/2016 MGA94_55 7775247 478358 4 2.25 321 0.65
RSL10019 11/07/2016 MGA94_55 7775176 478467 2 0.35 203 1.12
RSL10020 11/07/2016 MGA94_55 7775118 478554 5 0.82 1550 8.29
RSL10021 11/07/2016 MGA94_55 7774967 479142 29 0.33 1370 0.63
RSL10022 11/07/2016 MGA94_55 7774556 478840 1 0.11 36.1 1.48
RSL10023 11/07/2016 MGA94_55 7774556 478841 1 0.06 36.4 1.61
RSL10024 11/07/2016 MGA94_55 7774509 478823 4 0.06 53.1 10.85
RSL10025 11/07/2016 MGA94_55 7774703 478518 2 0.03 12.2 0.33
RSL10026 11/07/2016 MGA94_55 7775062 478442 3 0.69 76.6 2.35
RSL10027 11/07/2016 MGA94_55 7775160 478288 2 1.18 316 0.67
RSL10028 11/07/2016 MGA94_55 7775197 478254 5 2.38 289 1.8
RSL10029 11/07/2016 MGA94_55 7775630 477959 5 1.55 502 10.95
RSL10030 11/07/2016 MGA94_55 7771718 484167 -1 0.02 7.1 0.1
RSL10031 11/07/2016 MGA94_55 7770785 479885 -1 0.04 6.3 0.81
RSL10032 11/07/2016 MGA94_55 7770800 479942 -1 0.07 6.1 0.91
RSL10033 11/07/2016 MGA94_55 7770812 480052 1 0.05 24 2.17
RSL10034 11/07/2016 MGA94_55 7770781 480106 -1 0.01 3.7 0.78
RSL10035 11/07/2016 MGA94_55 7770782 480152 -1 -0.01 4.6 0.75
RSL10036 11/07/2016 MGA94_55 7770812 480179 -1 -0.01 3.5 0.67
RSL10037 11/07/2016 MGA94_55 7770793 480242 -1 -0.01 2.7 0.67
RSL10038 11/07/2016 MGA94_55 7770849 480279 -1 0.01 3.4 0.76
RSL10039 11/07/2016 MGA94_55 7770938 480332 -1 -0.01 3.1 0.86
RSL10040 11/07/2016 MGA94_55 7770949 480416 -1 -0.01 3.1 0.88
RSL10041 11/07/2016 MGA94_55 7770916 480527 1 0.01 4 1.19
RSL10042 11/07/2016 MGA94_55 7770919 480550 -1 0.05 6 0.85
RSL10043 11/07/2016 MGA94_55 7772501 483639 1 0.04 47.6 0.21
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ASX Announcement 12 February 2021

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SampleID Date_Sampled NAT_Grid_ID NAT_North NAT_East Au_ppb Ag_ppm Cu_ppm Sb_ppm
RSL10044 11/07/2016 MGA94_55 7772400 483381 1 0.03 38.4 0.16
RSL10045 11/07/2016 MGA94_55 7772518 483325 64 6.38 22800 1.7
RSL10046 11/07/2016 MGA94_55 7772554 483307 1 0.03 57.9 0.73
RSL10047 11/07/2016 MGA94_55 7772611 483128 102 3.64 5690 0.27
RSL10048 11/07/2016 MGA94_55 7772702 483177 1 0.03 9.4 0.56
RSL10049 11/07/2016 MGA94_55 7772388 482899 2 0.12 349 1.55
RSL10050 11/07/2016 MGA94_55 7773740 481739 142 5.11 948 218
RSL10051 11/07/2016 MGA94_55 7772312 483134 1 0.02 12.7 13.4
RSL10052 11/07/2016 MGA94_55 7771993 483299 1 0.05 59.2 1.12
RSL10053 11/07/2016 MGA94_55 7771457 483876 1 0.02 9.7 0.47
RSL10054 11/07/2016 MGA94_55 7776092 483155 23 1.69 2610 1.76
RSL10055 11/07/2016 MGA94_55 7775952 483660 1 0.03 36.4 1.76
RSL10056 11/07/2016 MGA94_55 7775190 478269 7 4.28 499 4.35
RSL10057 11/07/2016 MGA94_55 7776149 483750 3 0.26 44 2.36
RSL10058 11/07/2016 MGA94_55 7776396 483734 4 0.08 30 0.84
RSL10059 11/07/2016 MGA94_55 7776354 483172 1 0.04 21 1.4
RSL10060 11/07/2016 MGA94_55 7773043 482170 15 2.11 351 14.05
RSL10061 11/07/2016 MGA94_55 7772950 482101 1 0.62 4460 2.67
RSL10062 11/07/2016 MGA94_55 7773343 482051 30 31.6 464 60.4
RSL10063 11/07/2016 MGA94_55 7773474 482011 31 2.2 55.1 26.8
RSL10064 11/07/2016 MGA94_55 7773638 481931 6 1.76 4170 4.1
RSL10065 11/07/2016 MGA94_55 7773717 481855 28 18.35 24800 161.5
RSL10066 11/07/2016 MGA94_55 7773629 481547 2 31.2 183000 8.51
RSL10067 11/07/2016 MGA94_55 7773437 481564 492 6.01 8330 154
RSL10068 11/07/2016 MGA94_55 7773283 481568 1 0.07 38.7 1.29
RSL10069 11/07/2016 MGA94_55 7774756 481588 -1 0.02 11 0.23
RSL10070 11/07/2016 MGA94_55 7774447 481656 9 0.87 2100 6.19
RSL10071 11/07/2016 MGA94_55 7774209 481916 25 7.83 9800 41.2
RSL10072 11/07/2016 MGA94_55 7774209 481917 319 33.8 5580 175.5
RSL10073 11/07/2016 MGA94_55 7774209 481918 20 1.86 255 3.59
RSL10074 11/07/2016 MGA94_55 7774209 481919 944 4.33 3610 8.13
RSL10075 11/07/2016 MGA94_55 7771803 483933 -1 0.04 80.4 5.63
RSL10076 11/07/2016 MGA94_55 7777634 477573 393 3.66 176 2.27
RSL10077 11/07/2016 MGA94_55 7777634 477572 15550 27.6 211 2.56
RSL10078 11/07/2016 MGA94_55 7771989 483810 1 0.12 34.9 3.8
RSL10079 11/07/2016 MGA94_55 7777564 477552 2750 0.5 54.6 0.9
RSL10080 20/07/2016 MGA94_55 7771720 484091 1 -0.01 2.7 2.72
RSL10081 20/07/2016 MGA94_55 7771474 484020 -1 -0.01 3.8 0.16
RSL10082 20/07/2016 MGA94_55 7770577 483907 -1 -0.01 2.2 0.28
RSL10083 20/07/2016 MGA94_55 7770476 483858 1 -0.01 1.2 0.31
RSL10084 20/07/2016 MGA94_55 7770573 480197 -1 0.35 64.3 2.93
RSL10085 20/07/2016 MGA94_55 7770421 480398 2 0.94 24.4 4.95
RSL10086 20/07/2016 MGA94_55 7770245 480694 -1 -0.01 1.7 0.25
RSL10087 20/07/2016 MGA94_55 7770232 480848 -1 -0.01 8.7 0.66
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ASX Announcement 12 February 2021

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SampleID Date_Sampled NAT_Grid_ID NAT_North NAT_East Au_ppb Ag_ppm Cu_ppm Sb_ppm
RSL10088 20/07/2016 MGA94_55 7770489 480902 -1 -0.01 4.2 2.79
RSL10089 20/07/2016 MGA94_55 7771058 480168 1 0.31 13.8 1.18
RSL10090 20/07/2016 MGA94_55 7771187 480172 2 0.08 293 1.54
RSL10091 20/07/2016 MGA94_55 7771166 480107 252 20.3 2440 1130
RSL10092 20/07/2016 MGA94_55 7771267 480124 1 0.65 1140 31.2
RSL10093 20/07/2016 MGA94_55 7771322 480227 -1 0.08 42.4 11.8
RSL10094 20/07/2016 MGA94_55 7771327 480233 -1 0.06 25 32
RSL10095 20/07/2016 MGA94_55 7771346 480303 7 1.53 73.7 51.1
RSL10096 20/07/2016 MGA94_55 7771381 479984 5 2.71 274 66.8
RSL10097 20/07/2016 MGA94_55 7771083 480033 -1 0.56 39600 1.86
RSL10098 20/07/2016 MGA94_55 7771268 480124 2 1.22 703 278
RSL10099 27/07/2016 MGA94_55 7771130 479952 1 0.37 543 31.2
RSL10100 27/07/2016 MGA94_55 7771379 479949 1 1.36 201 17.05
RSL10101 27/07/2016 MGA94_55 7770887 480602 2 2.74 78.2 0.6
RSL10102 27/07/2016 MGA94_55 7770908 480716 1 1.2 50.5 1.21
RSL10103 28/07/2016 MGA94_55 7771116 480559 5 0.34 1520 4.94
RSL10104 28/07/2016 MGA94_55 7771329 480226 1 0.09 55.5 10.15
RSL10105 28/07/2016 MGA94_55 7771306 480600 8 3.78 484 11.35
RSL10106 28/07/2016 MGA94_55 7771400 480030 2 0.87 1700 5.22
RSL10107 30/07/2016 MGA94_55 7770844 480607 4 7.34 132.5 18.25
RSL10108 30/07/2016 MGA94_55 7770844 480607 2 7.13 272 57
RSL10109 2/08/2016 MGA94_55 7771903 480311 2 1.31 1340 1.16
RSL10110 2/08/2016 MGA94_55 7771992 480219 17 2.01 24700 6.81
RSL10111 3/08/2016 MGA94_55 7771173 480089 84 45.7 1630 1720
RSL10112 3/08/2016 MGA94_55 7771168 480110 2 0.9 76 21
RSL10113 3/08/2016 MGA94_55 7771122 480028 1 0.1 26 3.63
RSL10114 3/08/2016 MGA94_55 7771158 480016 1 0.12 215 27.3
RSL10115 3/08/2016 MGA94_55 7771353 479907 64 28.5 1775 103.5
RSL10116 3/08/2016 MGA94_55 7771373 479989 3 0.4 279 13.55
RSL10117 3/08/2016 MGA94_55 7771373 479797 1 0.3 850 38.2
RSL10118 3/08/2016 MGA94_55 7771373 479797 -1 0.09 270 12.15
RSL10119 3/08/2016 MGA94_55 7771373 479797 1 0.71 1895 35.3
RSL10120 3/08/2016 MGA94_55 7771375 479797 2 0.68 442 40.4
RSL10121 3/08/2016 MGA94_55 7771372 479809 -1 0.75 8470 2.47
RSL10122 3/08/2016 MGA94_55 7771141 479965 3 0.21 177.5 11
RSL10123 3/08/2016 MGA94_55 7771015 480052 -1 0.24 50 0.84
RSL10124 3/08/2016 MGA94_55 7771154 480113 7 3.98 125 52.4
RSL10125 5/08/2016 MGA94_55 7771114 480038 2 0.12 46.5 2.75
RSL10126 5/08/2016 MGA94_55 7771132 480058 1 0.11 162.5 31.9
RSL10127 5/08/2016 MGA94_55 7771186 480109 2 0.33 155.5 112.5
RSL10128 5/08/2016 MGA94_55 7771189 480120 1 0.33 18.2 8.67
RSL10129 5/08/2016 MGA94_55 7771193 480126 1 0.15 63.9 58.7
RSL10130 5/08/2016 MGA94_55 7771276 480057 3 0.4 210 18.3
RSL10131 5/08/2016 MGA94_55 7771349 479905 495 12.7 186 97.5
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ASX Announcement 12 February 2021

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SampleID Date_Sampled NAT_Grid_ID NAT_North NAT_East Au_ppb Ag_ppm Cu_ppm Sb_ppm
RSL10132 5/08/2016 MGA94_55 7771180 480076 84 0.73 586 8.7
RSL10133 5/08/2016 MGA94_55 7771170 480110 2 0.13 34 1.03
RSL10134 5/08/2016 MGA94_55 7771160 480107 1 0.48 52.5 7.23
RSL10135 5/08/2016 MGA94_55 7771170 480075 2 2.22 124 139.5
RSL10136 5/08/2016 MGA94_55 7771168 480112 7 0.88 93.5 12
RSL10137 5/08/2016 MGA94_55 7771167 480132 2 0.65 69.8 5.27
RSL10138 5/08/2016 MGA94_55 7771156 480122 5 1.19 88.2 0.84
RSL10139 5/08/2016 MGA94_55 7771144 480106 14 0.16 58.6 1.11
RSL10140 5/08/2016 MGA94_55 7771154 480097 4 0.28 65.4 6.71
RSL10141 5/08/2016 MGA94_55 7771146 480085 3 0.32 87.3 30.2
RSL10142 5/08/2016 MGA94_55 7771167 480102 1 0.04 109.5 0.69
RSL10143 5/08/2016 MGA94_55 7771170 480107 1 0.04 97.1 7.13
RSL10144 6/08/2016 MGA94_55 7771867 479800 1 0.9 157.5 1.76
RSL10145 6/08/2016 MGA94_55 7771950 479547 6 0.4 525 1.61
RSL10146 6/08/2016 MGA94_55 7771937 479543 3 0.43 86.7 2.84
RSL10147 6/08/2016 MGA94_55 7772261 479351 1 0.08 65.1 0.72
RSL10148 6/08/2016 MGA94_55 7772261 479351 3 0.22 605 1.92
RSL10149 6/08/2016 MGA94_55 7772243 479224 -1 0.02 12.4 0.25
RSL10150 6/08/2016 MGA94_55 7772370 478918 266 0.96 225 1.18
RSL10151 6/08/2016 MGA94_55 7772277 478973 2 0.04 17.9 0.39
RSL10152 6/08/2016 MGA94_55 7772164 479070 -1 0.02 12.2 0.24
RSL10153 6/08/2016 MGA94_55 7772134 479067 1 0.03 517 0.14
RSL10154 6/08/2016 MGA94_55 7772326 479124 -1 0.02 23.7 0.16
RSL10155 6/08/2016 MGA94_55 7772229 479133 3 0.18 92.5 0.88
RSL10156 6/08/2016 MGA94_55 7772250 479158 3 0.04 60.8 0.18
RSL10157 6/08/2016 MGA94_55 7772259 479157 1 0.12 554 3.94
RSL10158 26/08/2016 MGA94_55 7771378 480180 1 0.24 630 8
RSL10159 26/08/2016 MGA94_55 7771387 480159 -1 0.3 694 4.76
RSL10160 26/08/2016 MGA94_55 7771361 480194 1 0.14 165 48.9
RSL10161 26/08/2016 MGA94_55 7771325 480226 2 1.79 163.5 112.5
RSL10162 26/08/2016 MGA94_55 7771242 480240 4 0.22 8.5 1.38
RSL10163 26/08/2016 MGA94_55 7771343 480300 6 1.67 36.3 58.4
RSL10164 26/08/2016 MGA94_55 7771442 480324 1 0.33 12.5 23.9
RSL10165 26/08/2016 MGA94_55 7771551 480450 1 0.03 5 0.68
RSL10166 26/08/2016 MGA94_55 7771320 480350 2 2.56 2220 173.5
RSL10167 26/08/2016 MGA94_55 7771341 479902 2 0.24 1220 2.46
RSL10168 26/08/2016 MGA94_55 7771357 479840 1 0.09 41.4 1.35
RSL10169 26/08/2016 MGA94_55 7771358 479841 -1 0.13 139.5 1.17
RSL10170 26/08/2016 MGA94_55 7771376 479846 7 2.88 1100 92.6
RSL10171 26/08/2016 MGA94_55 7771365 479930 2 0.4 99.2 2.81
RSL10172 26/08/2016 MGA94_55 7771366 479930 2 0.32 32.2 4.28
RSL10173 26/08/2016 MGA94_55 7771343 479979 -1 0.13 108 1.08
RSL10174 26/08/2016 MGA94_55 7771379 480042 2 0.84 1450 11.65
RSL10175 26/08/2016 MGA94_55 7772366 478914 151 1.48 336 1.57
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ASX Announcement 12 February 2021

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SampleID Date_Sampled NAT_Grid_ID NAT_North NAT_East Au_ppb Ag_ppm Cu_ppm Sb_ppm
RSL10176 26/08/2016 MGA94_55 7772367 478927 239 0.59 506 1.13
RSL10177 26/08/2016 MGA94_55 7772330 478940 33 0.37 893 4.73
RSL10178 26/08/2016 MGA94_55 7772322 479008 10 0.24 564 1.73
RSL10179 26/08/2016 MGA94_55 7771055 480088 2 0.03 474 0.16
RSL10180 26/08/2016 MGA94_55 7771077 480100 3 0.04 66 0.53
RSL10181 26/08/2016 MGA94_55 7771158 480116 1 3.78 55.9 0.34
RSL10182 26/08/2016 MGA94_55 7771159 480117 1 0.88 66.6 3.77
RSL10183 26/08/2016 MGA94_55 7771083 480177 1 0.23 102.5 1.51
RSL10184 26/08/2016 MGA94_55 7771184 480256 1 0.35 26.3 12.7
RSL10185 26/08/2016 MGA94_55 7771385 480170 1 0.32 467 10.9
RSL10186 26/08/2016 MGA94_55 7771418 480007 -1 0.07 96.9 2.66
RSL10187 26/08/2016 MGA94_55 7771496 480049 3 1.54 7980 0.98
RSL10188 26/08/2016 MGA94_55 7771146 479966 1 1.55 163 35.6
RSL10189 26/08/2016 MGA94_55 7771170 479936 158 18.3 5230 62.5
RSL10190 26/08/2016 MGA94_55 7771435 479977 11 0.89 12050 1.31
RSL10191 26/08/2016 MGA94_55 7771385 480030 34 2.44 3200 445
RSL10192 26/08/2016 MGA94_55 7771240 480237 22 0.83 35 60.6
RSL10193 26/08/2016 MGA94_55 7771288 480293 2 0.14 143.5 6.79
RSL10194 26/08/2016 MGA94_55 7771368 480326 2 0.85 43.1 28
RSL10195 26/08/2016 MGA94_55 7771378 480307 4 0.27 254 26.1
RSL10196 26/08/2016 MGA94_55 7771311 479895 3 1.02 116 3.69
RSL10197 26/08/2016 MGA94_55 7771598 480515 2 0.47 52.6 4.12
RSL10198 26/08/2016 MGA94_55 7772325 481407 60 6.44 31300 1.17
RSL10199 1/09/2016 MGA94_55 7772316 481418 5 0.13 97.8 0.89
RSL10200 3/09/2016 MGA94_55 7771370 479870 2 0.22 83.5 0.53
RSL10201 3/09/2016 MGA94_55 7771694 480238 3 2.17 106 0.6
RSL10202 3/09/2016 MGA94_55 7772375 480907 1100 6.41 9690 0.31
RSL10203 26/08/2017 MGA94_55 7754160 477921 1 0.05 9.8 9.51
RSL10204 26/08/2017 MGA94_55 7754129 477760 5 0.15 8.3 0.46
RSL10205 26/08/2017 MGA94_55 7754148 477752 1 1.42 273 15.9
RSL10206 26/08/2017 MGA94_55 7754153 477149 1 0.19 38.7 1.37
RSL10207 27/08/2017 MGA94_55 7753979 477117 -1 0.05 6.1 0.4
RSL10208 27/08/2017 MGA94_55 7754015 476684 355 1.15 50.2 1.32
RSL10209 27/08/2017 MGA94_55 7754437 477394 2 0.26 9.6 2.58
RSL10210 27/08/2017 MGA94_55 7755110 476182 338 0.57 258 2.23
RSL10211 27/08/2017 MGA94_55 7755070 476332 34 1.58 3820 1.32
RSL10212 28/08/2017 MGA94_55 7755968 476646 21 0.11 713 2.05
RSL10213 28/08/2017 MGA94_55 7755888 476616 1 0.09 12.4 6.72
RSL10214 29/08/2017 MGA94_55 7756080 476480 8 0.07 97.7 0.8
RSL10215 29/08/2017 MGA94_55 7757097 477097 61 0.03 36.2 1.01
RSL10216 29/08/2017 MGA94_55 7757238 477824 68300 4.37 11.7 18.75
RSL10217 29/08/2017 MGA94_55 7757180 478189 4 0.01 1.6 0.15
RSL10218 30/08/2017 MGA94_55 7756941 479047 179 0.3 35.2 1.35
RSL10219 30/08/2017 MGA94_55 7757118 479389 2 0.14 3.2 0.59
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ASX Announcement 12 February 2021

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SampleID Date_Sampled NAT_Grid_ID NAT_North NAT_East Au_ppb Ag_ppm Cu_ppm Sb_ppm
RSL10220 31/08/2017 MGA94_55 7755584 472388 545 0.06 8.6 61.7
RSL10221 31/08/2017 MGA94_55 7755552 472351 645 106 14400 837
RSL10222 31/08/2017 MGA94_55 7755531 472314 8 0.38 28.8 14.7
RSL10223 31/08/2017 MGA94_55 7755469 470727 1 0.07 8.1 2.4
RSL10224 31/08/2017 MGA94_55 7755370 470767 70 2.65 7390 2.27
RSL10225 1/09/2017 MGA94_55 7757735 476891 2 0.44 80.8 16.25
RSL10226 1/09/2017 MGA94_55 7758084 477836 2 0.03 10.7 1.96
RSL10227 2/09/2017 MGA94_55 7758086 479073 1 0.02 14.2 0.7
RSL10228 2/09/2017 MGA94_55 7758642 479971 618 4.06 15750 48.3
RSL10229 2/09/2017 MGA94_55 7758583 479994 9 0.07 136.5 4.52
RSL10230 2/09/2017 MGA94_55 7758553 479971 90 2.45 1900 5.48
RSL10231 3/09/2017 MGA94_55 7761197 476688 18 0.06 14.9 2.2
RSL10232 3/09/2017 MGA94_55 7761089 476695 14 0.11 366 2.52
RSL10233 3/09/2017 MGA94_55 7758040 479280 1 0.01 8.2 1.36
RSL10234 5/09/2017 MGA94_55 7759055 477254 330 0.28 307 1.5
RSL10235 5/09/2017 MGA94_55 7759027 478138 15 0.03 5.4 1
RSL10236 5/09/2017 MGA94_55 7759044 478715 2 0.03 42.2 1.5
RSL10238 6/09/2017 MGA94_55 7757866 474047 1 0.09 28.4 4.41
RSL10239 7/09/2017 MGA94_55 7757678 473932 5 0.04 18.9 1.49
RSL10240 7/09/2017 MGA94_55 7757613 473743 1 0.02 1.2 2.83
RSL10241 7/09/2017 MGA94_55 7757723 474025 5 0.03 8.1 0.13
RSL10242 7/09/2017 MGA94_55 7759044 475855 1 0.02 3.6 0.71
RSL10243 7/09/2017 MGA94_55 7754081 470375 -1 0.03 7 0.36
RSL10244 26/09/2017 MGA94_55 7756081 475840 1 0.05 43.9 0.49
RSL10245 26/09/2017 MGA94_55 7756085 475854 1 0.01 13.4 0.63
RSL10246 26/09/2017 MGA94_55 7756123 476643 1 0.03 19 1.06
RSL10247 26/09/2017 MGA94_55 7756080 477680 22 0.01 3.2 0.35
RSL10248 26/09/2017 MGA94_55 7756084 478068 1 0.02 28 1.08
RSL10249 26/09/2017 MGA94_55 7756088 478072 -1 0.07 4.3 1.84
RSL10250 27/09/2017 MGA94_55 7756077 478785 1 0.03 10.9 0.89
RSL10251 27/09/2017 MGA94_55 7756093 479701 2 0.33 648 2.28
RSL10252 27/09/2017 MGA94_55 7755958 479907 1 0.09 21.3 0.65
RSL10253 27/09/2017 MGA94_55 7755993 479910 2 0.32 1040 3.42
RSL10254 27/09/2017 MGA94_55 7756032 479914 1 0.54 236 1
RSL10255 28/09/2017 MGA94_55 7756077 481018 1 0.03 3.4 0.65
RSL10256 28/09/2017 MGA94_55 7756055 481126 1 0.01 2.3 0.47
RSL10257 28/09/2017 MGA94_55 7756003 481514 1 0.05 4.6 1.05
RSL10258 28/09/2017 MGA94_55 7755947 481312 9 0.47 32 1.27
RSL10259 29/09/2017 MGA94_55 7759049 482548 44 0.06 38.9 9.99
RSL10260 30/09/2017 MGA94_55 7758999 481375 4050 4.53 951 3.88
RSL10261 30/09/2017 MGA94_55 7759064 481849 3 0.07 51.4 0.94
RSL10262 30/09/2017 MGA94_55 7759035 481999 3 0.05 54.7 1.94
RSL10263 30/09/2017 MGA94_55 7759076 482103 301 2.9 9070 1.83
RSL10264 1/10/2017 MGA94_55 7759029 482161 2 0.01 11.1 1.93
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ASX Announcement 12 February 2021

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SampleID Date_Sampled NAT_Grid_ID NAT_North NAT_East Au_ppb Ag_ppm Cu_ppm Sb_ppm
RSL10265 1/10/2017 MGA94_55 7757751 481890 6 0.08 50 0.25
RSL10266 1/10/2017 MGA94_55 7757585 481615 19 0.74 2140 3.57
RSL10267 2/10/2017 MGA94_55 7752209 468811 15 279 142000 1.88
RSL10268 2/10/2017 MGA94_55 7752212 468850 8 1.71 988 2.27
RSL10269 5/10/2017 MGA94_55 7752585 469639 1 0.13 52.2 1.84
RSL10270 5/10/2017 MGA94_55 7752886 469670 2 7.42 4630 5.87
RSL10271 5/10/2017 MGA94_55 7757598 480550 2 0.23 254 1.96
RSL10272 5/10/2017 MGA94_55 7757245 481011 19 1.32 4270 2.4
RSL10273 6/10/2017 MGA94_55 7757788 478253 6450 3.04 529 29.8
RSL10274 6/10/2017 MGA94_55 7757306 477804 2 0.02 12.9 0.39
RSL10275 6/10/2017 MGA94_55 7757523 477873 3 0.14 159.5 0.72
RSL10276 24/10/2017 MGA94_55 7756403 473736 4 0.08 105.5 3.26
RSL10277 24/10/2017 MGA94_55 7756375 473676 246 4.88 4360 3.24
RSL10278 24/10/2017 MGA94_55 7756436 473809 34 0.31 39500 1.42
RSL10279 24/10/2017 MGA94_55 7754795 471264 16 1.92 5930 1.03
RSL10280 24/10/2017 MGA94_55 7754315 471393 3 0.83 9030 1.32
RSL10281 24/10/2017 MGA94_55 7755608 472369 6 0.3 1080 0.49
RSL10282 24/10/2017 MGA94_55 7756613 472414 13 0.29 116 54.4
RSL10283 24/10/2017 MGA94_55 7755671 472532 1 0.04 56.8 17.75
RSL10284 25/10/2017 MGA94_55 7758453 482991 1470 0.49 201 78.2
RSL10285 25/10/2017 MGA94_55 7758552 482152 12950 15.15 22100 1.11
RSL10286 25/10/2017 MGA94_55 7755748 472523 4 0.03 55.6 50
RSL10287 25/10/2017 MGA94_55 7755946 472665 3 0.11 23.7 19.05
RSL10288 25/10/2017 MGA94_55 7755954 472650 32 0.15 135 4.03
RSL10289 25/10/2017 MGA94_55 7752192 468833 24 14.75 212000 0.64
RSL10290 25/10/2017 MGA94_55 7752161 468838 2 0.04 386 0.24
RSL10291 29/10/2017 MGA94_55 7759483 478195 3 0.02 97 2.34
RSL10292 29/10/2017 MGA94_55 7759560 478218 2 0.29 4440 1.4
RSL10293 31/10/2017 MGA94_55 7763850 484037 5540 2.8 63.5 9.75
RSL10294 31/10/2017 MGA94_55 7763537 483999 2180 0.96 127 10.05
RSL10295 31/10/2017 MGA94_55 7763569 483763 99 1.47 137 5050
RSL10296 1/11/2017 MGA94_55 7765183 482348 36600 24.2 25.7 15.5
RSL10297 1/11/2017 MGA94_55 7762156 485002 52 0.23 31.5 15.35
RSL10298 1/11/2017 MGA94_55 7762162 485052 35 0.15 84.6 105
RSL10299 1/11/2017 MGA94_55 7762226 484775 119 0.24 38.8 4.12
RSL10300 2/11/2017 MGA94_55 7762250 485982 8 0.02 5.8 0.89
RSL10301 2/11/2017 MGA94_55 7761416 485669 67 0.1 47.6 5.58
RSL10302 2/11/2017 MGA94_55 7761355 484903 54 0.24 31.3 4.39
RSL10303 2/11/2017 MGA94_55 7761390 484948 760 151 4240 827
RSL10304 3/11/2017 MGA94_55 7761704 482040 3710 0.65 118 6.98
RSL10305 3/11/2017 MGA94_55 7761671 482007 690 10.85 262 1.76
RSL10306 3/11/2017 MGA94_55 7761875 482298 357 4.77 536 2.95
RSL10307 3/11/2017 MGA94_55 7761939 482419 1880 1.42 96.7 3.4
RSL10308 3/11/2017 MGA94_55 7762008 482509 51 1.89 1320 0.29
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SUNSHINE GOLD LIMITED (ASX:SHN)

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ASX Announcement 12 February 2021

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SampleID Date_Sampled NAT_Grid_ID NAT_North NAT_East Au_ppb Ag_ppm Cu_ppm Sb_ppm
RSL10309 3/11/2017 MGA94_55 7764128 482030 25 0.17 15.4 2.06
RSL10310 3/11/2017 MGA94_55 7764107 482170 342 0.95 37 2.52
RSL10311 3/11/2017 MGA94_55 7764227 482125 236 7.96 44.3 6.05
RSL10312 3/11/2017 MGA94_55 7763735 482393 45 0.06 9.1 4.59
RSL10313 3/11/2017 MGA94_55 7763715 482385 151 0.27 1700 2.24
RSL10314 3/11/2017 MGA94_55 7764117 481789 23 3.17 12.5 1.89
RSL10315 4/11/2017 MGA94_55 7763602 481218 7 0.55 56 1.74
RSL10316 4/11/2017 MGA94_55 7762775 484557 451 0.24 7 5.89
RSL10317 4/11/2017 MGA94_55 7762764 484542 2 0.11 10.9 4.45
RSL10318 1/11/2017 MGA94_55 7762156 485002 1 0.02 11.1 9.8
RSL10319 5/06/2018 MGA94_55 7761385 484666 1 0.08 15.2 1.55
RSL10320 5/06/2018 MGA94_55 7761651 484904 7380 3.88 39.4 12.55
RSL10321 5/06/2018 MGA94_55 7761815 484841 6 0.04 9.2 4.94
RSL10322 5/06/2018 MGA94_55 7761815 484815 4 0.6 154.5 1.33
RSL10323 5/06/2018 MGA94_55 7762198 482456 9 0.01 4.7 1.67
RSL10324 5/06/2018 MGA94_55 7761792 482166 1250 5.48 811 1.91
RSL10325 5/06/2018 MGA94_55 7761728 482034 250 0.79 764 0.77
RSL10326 5/06/2018 MGA94_55 7761701 481936 38 1.39 154 0.72
RSL10327 5/06/2018 MGA94_55 7761692 481950 120 0.86 222 1.18
RSL10328 5/06/2018 MGA94_55 7761668 481933 1790 20 306 2.37
RSL10329 6/06/2018 MGA94_55 7763699 481627 317 7.98 31700 2.73
RSL10330 6/06/2018 MGA94_55 7763708 481667 3 0.3 1260 0.74
RSL10331 6/06/2018 MGA94_55 7763801 481992 5 0.06 32.1 0.9
RSL10332 6/06/2018 MGA94_55 7763919 481962 68 6.23 75.5 4.06
RSL10333 6/06/2018 MGA94_55 7763930 481919 314 2.3 15.7 1.73
RSL10334 6/06/2018 MGA94_55 7763659 481479 270 0.14 12.4 1.62
RSL10335 7/06/2018 MGA94_55 7764209 482322 12750 3.54 22.2 2.16
RSL10336 7/06/2018 MGA94_55 7764204 482333 33 0.11 13.3 1.62
RSL10337 7/06/2018 MGA94_55 7764325 482330 155 3.77 509 2.3
RSL10338 7/06/2018 MGA94_55 7764353 482273 22 0.07 20 0.42
RSL10339 7/06/2018 MGA94_55 7764351 482277 10 0.03 6.2 0.28
RSL10340 7/06/2018 MGA94_55 7764393 482276 11 0.25 78.8 0.43
RSL10341 7/06/2018 MGA94_55 7764412 482278 21 0.07 7.3 1.33
RSL10342 7/06/2018 MGA94_55 7764482 482189 40 0.03 4.9 0.42
RSL10343 7/06/2018 MGA94_55 7764518 482109 65 1.6 442 0.48
RSL10344 7/06/2018 MGA94_55 7764166 482333 171 0.51 62.7 2.21
RSL10345 7/06/2018 MGA94_55 7764177 482233 14800 5.45 17.6 2.01
RSL10346 8/06/2018 MGA94_55 7764241 482123 76 3.06 19.6 2.61
RSL10347 8/06/2018 MGA94_55 7764255 482130 8 0.49 6 0.86
RSL10348 8/06/2018 MGA94_55 7764295 482164 258 6.64 13.9 6.18
RSL10349 8/06/2018 MGA94_55 7764172 482163 64 2.08 18.5 1.88
RSL10350 8/06/2018 MGA94_55 7763796 481302 170 2.09 16600 0.69
RSL10351 8/06/2018 MGA94_55 7763696 481236 2070 0.45 54.7 1.14
RSL10352 9/06/2018 MGA94_55 7771676 483038 597 4.09 3570 0.12
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SUNSHINE GOLD LIMITED (ASX:SHN)

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ASX Announcement 12 February 2021

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SampleID Date_Sampled NAT_Grid_ID NAT_North NAT_East Au_ppb Ag_ppm Cu_ppm Sb_ppm
RSL10353 11/06/2018 MGA94_55 7764398 482397 422 11.4 24.5 5.35
RSL10354 11/06/2018 MGA94_55 7763437 482659 68 44.7 142.5 0.85
RSL10355 11/06/2018 MGA94_55 7764035 482747 1420 33.4 298 0.9
RSL10356 11/06/2018 MGA94_55 7764115 482748 86 4.91 2830 1.76
RSL10357 11/03/2019 MGA94_55 7783783 472986 756 82.1 276 11.2
RSL10358 11/03/2019 MGA94_55 7783918 473034 294 2.37 83.3 6.96
RSL10359 11/03/2019 MGA94_55 7784234 473025 31 2.77 4280 1.11
RSL10360 11/03/2019 MGA94_55 7784211 473024 3 0.39 295 0.44
RSL10361 11/03/2019 MGA94_55 7784230 473049 10 2.04 7750 0.85
RSL10362 11/03/2019 MGA94_55 7784234 473059 199 4.69 27100 2.05
RSL10363 13/03/2019 MGA94_55 7783291 472654 34 0.22 63.8 2.82
RSL10364 13/03/2019 MGA94_55 7783292 472654 11 0.09 70.6 0.92
RSL10365 13/03/2019 MGA94_55 7783273 472692 45 0.36 62.5 1.6
RSL10366 13/03/2019 MGA94_55 7783373 472697 2 0.09 68.8 0.17
RSL10367 13/03/2019 MGA94_55 7784245 472995 7 1.6 1110 1.42
RSL10368 13/03/2019 MGA94_55 7784250 473017 71 2.64 2390 1.44
RSL10369 13/03/2019 MGA94_55 7784250 473017 18 0.65 2710 2.02
RSL10370 13/03/2019 MGA94_55 7784303 473188 694 5.19 6180 1.84
RSL10371 13/03/2019 MGA94_55 7784306 473224 8 1.01 2100 11.25
RSL10372 13/03/2019 MGA94_55 7784260 473201 2030 15.45 84399.99 34.7
RSL10373 13/03/2019 MGA94_55 7784250 473037 53 1.18 722 2.59
RSL10374 13/03/2019 MGA94_55 7782008 466275 2 0.04 58.4 0.28
RSL10375 14/03/2019 MGA94_55 7784168 473545 6 0.8 763 0.23
RSL10376 14/03/2019 MGA94_55 7784267 473311 106 2.48 37300 4.95
RSL10377 14/03/2019 MGA94_55 7784200 473167 204 5.04 3290 1.44
RSL10378 14/03/2019 MGA94_55 7784230 473079 2 1.66 17100 0.41
RSL10379 16/03/2019 MGA94_55 7782209 470474 40 1.63 567 0.73
RSL10380 16/03/2019 MGA94_55 7782250 470346 6230 33.8 679 20.4
RSL10381 16/03/2019 MGA94_55 7782342 470324 94 2.14 646 5.53
RSL10382 16/03/2019 MGA94_55 7782179 471297 9 0.99 1060 1.48
RSL10383 16/03/2019 MGA94_55 7783312 472751 3 0.03 82.9 0.18
RSL10384 16/03/2019 MGA94_55 7783327 472747 4 0.02 14.2 0.23
RSL10385 16/03/2019 MGA94_55 7783442 472795 68 1.2 33.3 2.52
RSL10386 16/03/2019 MGA94_55 7781731 479006 1420 0.58 24.9 0.61
RSL10387 16/03/2019 MGA94_55 7781765 479001 1010 23.9 7310 2.52
RSL10388 16/03/2019 MGA94_55 7782416 470465 208 2.53 81.7 8.36
RSL10389 17/03/2019 MGA94_55 7784314 472291 4 0.95 29.3 0.26
RSL10390 17/03/2019 MGA94_55 7784212 471364 36 64 2890 1605
RSL10391 17/03/2019 MGA94_55 7784225 471358 17 7.69 350 166
RSL10392 17/03/2019 MGA94_55 7783989 472681 14750 21.6 861 340
RSL10393 17/03/2019 MGA94_55 7784107 472621 29 0.86 6620 1.66
RSL10394 17/03/2019 MGA94_55 7785573 472527 2 1.08 7020 3.68
RSL10395 17/03/2019 MGA94_55 7785565 472539 9 1.78 391 10.45
RSL10396 17/03/2019 MGA94_55 7785567 472540 6 14.15 229 4.2
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SUNSHINE GOLD LIMITED (ASX:SHN)

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ASX Announcement 12 February 2021

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SampleID Date_Sampled NAT_Grid_ID NAT_North NAT_East Au_ppb Ag_ppm Cu_ppm Sb_ppm
RSL10397 13/03/2019 MGA94_55 7784250 473017 954 2.78 164.5 20.1
RSL10398 4/04/2019 MGA94_55 7783971 472714 10 0.06 412 1.12
RSL10399 4/04/2019 MGA94_55 7783971 472714 127 1.69 8620 0.42
RSL10400 4/04/2019 MGA94_55 7784006 472678 57 3.11 260 8.14
RSL10401 4/04/2019 MGA94_55 7784050 473244 94 1.91 16750 0.56
RSL10402 22/04/2019 MGA94_55 7764097 482300 63 0.15 70.6 2.38
RSL10403 22/04/2019 MGA94_55 7761909 482388 2010 4.95 1535 1.35
RSL10404 4/05/2019 MGA94_55 7755584 472389 5 0.07 21.1 72.8
RSL13000 28/09/2017 MGA94_55 7782441 467908.6 1030 2.64 20700 24.9
RSL13001 29/09/2017 MGA94_55 7777469 478160.5 51 0.17 346 0.55
RSL13002 29/09/2017 MGA94_55 7777720 478642.5 6 0.1 135.5 0.93
RSL13003 29/09/2017 MGA94_55 7777747 478690.5 21 0.15 688 0.69
RSL13004 29/09/2017 MGA94_55 7777898 478924.5 7 0.21 165.5 0.38
RSL13005 29/09/2017 MGA94_55 7783133 477798.5 1 0.02 5.4 0.12
RSL13006 29/09/2017 MGA94_55 7783116 477801.5 2 0.04 67.5 0.56
RSL13007 29/09/2017 MGA94_55 7784209 473555.5 9 0.35 510 0.26
RSL13008 30/09/2017 MGA94_55 7770453 482718.5 1 0.02 5.4 7.35
RSL13009 1/10/2017 MGA94_55 7770940 482547.5 2 0.06 57.3 0.09
RSL13010 1/10/2017 MGA94_55 7770938 482647.5 -1 -0.01 16.9 0.16
RSL13011 2/10/2017 MGA94_55 7786422 470371 -1 0.02 7.1 0.13
RSL13012 1/10/2017 MGA94_55 7771645 483143.5 4 0.06 72.2 0.34
RSL13013 3/10/2017 MGA94_55 7782464 472718 129 0.01 15.4 0.46
RSL13014 3/10/2017 MGA94_55 7782447 472708 2 -0.01 5.7 0.23
RSL13015 3/10/2017 MGA94_55 7782422 472632 1 0.24 18.9 0.32
RSL13016 3/10/2017 MGA94_55 7782473 472687 4 0.33 65.6 0.9
RSL13017 3/10/2017 MGA94_55 7782463 472620 1 0.03 8.1 0.46
RSL13018 3/10/2017 MGA94_55 7782533 472561 9 0.19 15 0.51
RSL13019 3/10/2017 MGA94_55 7782677 472538 4 0.28 23.7 0.71
RSL13020 3/10/2017 MGA94_55 7782574 472484 1 0.13 14 0.23
RSL13021 3/10/2017 MGA94_55 7782293 472481 1 0.07 16 0.31
RSL13022 3/10/2017 MGA94_55 7782238 472514 2 0.03 19.3 0.37
RSL13023 3/10/2017 MGA94_55 7782144 472657 1 0.01 9.4 0.7
RSL13024 3/10/2017 MGA94_55 7782556 472789 8 0.53 253 1.54
RSL13025 3/10/2017 MGA94_55 7782685 472782 427 262 1650 7.07
RSL13026 4/10/2017 MGA94_55 7782409 472983 2 0.37 42.7 1.23
RSL13027 5/10/2017 MGA94_55 7781117 475454 626 41.7 560 24.5
RSL13028 5/10/2017 MGA94_55 7781250 475407 112 15.05 660 2.17
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SUNSHINE GOLD LIMITED (ASX:SHN)

37 | P a g e

AI assistant

SUNSHINE METALS LIMITED Capital/Financing Update 2021

65790_rns_2021-02-11_9a37be4a-d2cd-4c96-8e6f-68f2c02de130.pdf

OPTION TO ACQUIRE RAVENSWOOD WEST GOLD-COPPER-RARE EARTHS PROJECT

HIGHLIGHTS (upon completion)

SUNSHINE GOLD LIMITED (ASX:SHN)

BACKGROUND

CAUTIONARY STATEMENT

NEXT STEPS AND IMMEDIATE OPPORTUNITIES

RAVENSWOOD WEST OVERVIEW (EPM 26041, EPM 26152, EPM 26303, EPM 26304, 100% Under Op�on)

Porphyry Copper-Molybdenum-Gold Prospects

Dreghorn Goldfield (Figure 7)

Elphinstone Creek Gold and Rare Earths Prospect

Kirkers, Connolly and Trieste Goldfields (Figure 9)

Kirk Goldfield (Ravenswood North)

KEY OPTION TERMS

PLANNED ACTIVITIES

ENDS

Competent Person’s Statement

ABOUT SUNSHINE GOLD

Triumph Gold Project (EPM18486, EPM19343: 100%)

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

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

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

JORC Code, 2012 Edition TABLE 1 – RAVENSWOOD WEST PROJECT

TABLE OF DRILL COLLARS – THE BANK PROSPECT

TABLE OF ROCK CHIP SAMPLES

AI assistant

SUNSHINE METALS LIMITED — Capital/Financing Update 2021

65790_rns_2021-02-11_9a37be4a-d2cd-4c96-8e6f-68f2c02de130.pdf

OPTION TO ACQUIRE RAVENSWOOD WEST GOLD-COPPER-RARE EARTHS PROJECT

HIGHLIGHTS (upon completion)

SUNSHINE GOLD LIMITED (ASX:SHN)

BACKGROUND

CAUTIONARY STATEMENT

NEXT STEPS AND IMMEDIATE OPPORTUNITIES

RAVENSWOOD WEST OVERVIEW (EPM 26041, EPM 26152, EPM 26303, EPM 26304, 100% Under Op�on)

Porphyry Copper-Molybdenum-Gold Prospects

Dreghorn Goldfield (Figure 7)

Elphinstone Creek Gold and Rare Earths Prospect

Kirkers, Connolly and Trieste Goldfields (Figure 9)

Kirk Goldfield (Ravenswood North)

KEY OPTION TERMS

PLANNED ACTIVITIES

ENDS

Competent Person’s Statement

ABOUT SUNSHINE GOLD

Triumph Gold Project (EPM18486, EPM19343: 100%)

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

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

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

JORC Code, 2012 Edition TABLE 1 – RAVENSWOOD WEST PROJECT

TABLE OF DRILL COLLARS – THE BANK PROSPECT

TABLE OF ROCK CHIP SAMPLES

More from SUNSHINE METALS LIMITED

SUNSHINE METALS LIMITED Capital/Financing Update 2021