YƵĂƌƚĞƌůLJZĞƉŽƌƚ

ĨŽƌ ƚŚĞƚŚƌĞĞŵŽŶƚŚƐ ĞŶĚĞĚ ϯϬ ^ĞƉƚĞŵďĞƌ ϮϬϮϮ

ϯϭ KĐƚŽďĞƌϮϬϮϮ ^yŶŶŽƵŶĐĞŵĞŶƚ

^WdDZ ϮϬϮϮ YhZdZ>z d/s/d/^ZWKZd ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ

ͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺͺ

^ƵƌĞĨŝƌĞZĞƐŽƵƌĐĞƐE> ;͞**^ƵƌĞĨŝƌĞ͕͟͞ƚŚĞŽŵƉĂŶLJ**͟Ϳ ŝƐ ƉůĞĂƐĞĚ ƚŽ ƌĞƉŽƌƚ ŽŶ ŝƚƐ ĞdžƉůŽƌĂƚŝŽŶ ĂĐƚŝǀŝƚŝĞƐ Ăƚ ƚŚĞŽŵƉĂŶLJ͛Ɛ ϭϬϬй ŽǁŶĞĚ ƉƌŽƉĞƌƚŝĞƐ ĨŽƌƚŚĞ ƋƵĂƌƚĞƌĞŶĚŝŶŐ ϯϬ ^ĞƉƚĞŵďĞƌ ϮϬϮϮ ;&ŝŐƵƌĞ ϭͿ͘

dŚĞ ŽŵƉĂŶLJ ŚĂƐ ĐŽŵŵĞŶĐĞĚ WƌĞĨĞĂƐŝďŝůŝƚLJ ^ƚƵĚŝĞƐ Ăƚ ƚŚĞ sŝĐƚŽƌLJ ŽƌĞ sĂŶĂĚŝƵŵ ĞƉŽƐŝƚ ĂŶĚ ƵŶĚĞƌƚŽŽŬ ĨƵƌƚŚĞƌĞdžƉůŽƌĂƚŝŽŶ ĚƌŝůůŝŶŐ Ăƚ ƚŚĞzŝĚďLJ'ŽůĚ WƌŽũĞĐƚ͘ dŚĞ ŽŵƉĂŶLJĂůƐŽ ƉƌŽŐƌĞƐƐĞĚ ǁŝƚŚ ƚŚĞ ĂƉƉƌŽǀĂůƐ ƉƌŽĐĞƐƐ ƚŽ ĐŽŵŵĞŶĐĞ WƌĞĨĞĂƐŝďŝůŝƚLJ^ƚƵĚLJ ŝŶĨŝůů ĚƌŝůůŝŶŐĂƚ ƚŚĞ WĞƌĞŶũŽƌŝ WƌĞŵŝƵŵ/ƌŽŶ WƌŽũĞĐƚ͕ ĂŶĚ ƌĞĐĞŝǀĞĚ ŚŝŐŚͲŐƌĂĚĞWď ĂŶĚŐ ĂƐƐĂLJƐ ĨƌŽŵ ƌĞĐŽŶŶĂŝƐƐĂŶĐĞĞdžƉůŽƌĂƚŝŽŶĂƚ ƚŚĞ <ŽŽůŝŶĞ ĂƐĞDĞƚĂůƐWƌŽũĞĐƚ͘

dŚĞ ŽŵƉĂŶLJ͛Ɛ ĞŶĚ ŽĨƋƵĂƌƚĞƌĐĂƐŚ ƉŽƐŝƚŝŽŶǁĂƐ Ψϰ͘ϬϱD͘

z/z 'K>WZK:d

x &ŝǀĞ ŝĂŵŽŶĚ ƌŝůů ;Ϳ ŚŽůĞƐ ǁŝƚŚ ZĞǀĞƌƐĞ ŝƌĐƵůĂƚŝŽŶ ;ZͿ ĐŽůůĂƌƐ ĐŽŵŵĞŶĐĞĚ͕ ǁŝƚŚ ĐŽŵƉůĞƚŝŽŶ ŽĨϯϳϬŵ ;ŽĨĂ ϰϱϱŵ ƉƌŽŐƌĂŵŵĞͿ͘ ŚŽůĞƐ ǁŝůůĂƐƐŝƐƚ ŝŶƌĞĐŽŐŶŝƐŝŶŐ ƚŚĞĐŽŶƚƌŽůƐ ŽŶ ǀĂƌŝŽƵƐ ƐƚLJůĞƐ ŽĨŐŽůĚŵŝŶĞƌĂůŝƐĂƚŝŽŶ͘
x ůů ĂƐƐĂLJƐ ŚĂǀĞ ŶŽǁ ďĞĞŶ ƌĞĐĞŝǀĞĚ ĨƌŽŵ Ěƌŝůů ƚĞƐƚŝŶŐ ƚŚĞ DD/ ĂŶŽŵĂůŝĞƐ ĐŽŵƉůĞƚĞĚ ůĂƐƚ ƋƵĂƌƚĞƌ͘ tŝĚĞŐŽůĚ ŝŶƚĞƌƐĞĐƚŝŽŶƐ ĂŶĚ ŚŝŐŚ ŐƌĂĚĞƐ ƵƉ ƚŽ ϭϬ͘ϰϬ Őͬƚ Ƶ ;^y ƌĞůĞĂƐĞ ϰ ƵŐƵƐƚ ϮϬϮϮͿ ͗

zZϬϱϵ	ϲϬŵ	Λ	ϭ͘Ϭϰ	ŐͬƚƵĨƌŽŵ	ϯϮŵ
ŝŶĐůƵĚŝŶŐ	ϰŵ	Λ	ϭϬ͘ϰϬ	ŐͬƚƵĨƌŽŵ	ϳϮŵ
zZϬϲϵ	ϮϬŵ	Λ	Ϭ͘ϰϯ	ŐͬƚƵĨƌŽŵ	ϭϬϰŵ
ĂŶĚ	ϯϮŵ	Λ	Ϭ͘ϯϮ	ŐͬƚƵĨƌŽŵ	ϭϰϰŵ

x Z ƐĂŵƉůĞƐ ŚĂǀĞďĞĞŶ ƐƵďŵŝƚƚĞĚĨŽƌƐŝŐŚƚĞƌͲůĞǀĞů ŵĞƚĂůůƵƌŐŝĐĂů ƚĞƐƚ ǁŽƌŬ͘

s/dKZzKZsE/hD

x dŚŝƌƚLJͲŶŝŶĞ Z ŚŽůĞƐ ĚƌŝůůĞĚ ĨŽƌϯ͕Ϯϯϵŵ ;ŽĨĂ ƉƌŽŐƌĂŵŵĞĨŽƌ ϱ͕ϭϴϴŵͿ ƚŽ ĐŽŵƉůĞƚĞ ƚŚĞ W&^ŝŶĨŝůů ĚƌŝůůŝŶŐ ƉƌŽŐƌĂŵ͘
x ϮŝĂŵŽŶĚƌŝůůŚŽůĞƐ ĐŽŵƉůĞƚĞĚ ĚŽǁŶ ƚŽ ĂĚĞƉƚŚ ŽĨƵƉƚŽ ϮϯϬŵ͘
x Z ƐĂŵƉůĞƐ ĂŶĚ ĚŝĂŵŽŶĚĐŽƌĞǁŝůůďĞ ƵƐĞĚĨŽƌ ŵĞƚĂůůƵƌŐŝĐĂůƚĞƐƚ ǁŽƌŬ ŝŶƚŚĞ W&^͘

PERENJORI IRON ORE PROJECT

Flora and fauna survey scheduled.
Awaiting final Program of Works and Native Vegetation Clearing Permit for planned 5,000m RC infill drill program.
Environmental survey and RC infill drilling will mark commencement of Perenjori PFS.

KOOLINE HIGH-GRADE SILVER-LEAD PROJECT

Reconnaissance rock chip sampling and mapping returns high-grade Pb-Ag assays up to:

16.2% Pb & 41g/t Ag 14.2% Pb & 55g/t Ag

High grades associated with a large-scale electromagnetic conductor at Mt Conspicuous target interpreted as buried sulphide mineralisation.

Figure 1 Surefire Resources NL project locations. All projects are 100% owned and controlled by Surefire.

z/z'K>WZK:d

ƉƌŽŐƌĂŵ ŽĨƐŝdž Z ƉƌĞͲĐŽůůĂƌĞĚ ŚŽůĞƐ ĐŽŵŵĞŶĐĞĚ ĚƵƌŝŶŐ ƚŚĞ ƋƵĂƌƚĞƌ͘ dŚŝƐ ĚƌŝůůŝŶŐ ǁĂƐ ĚĞƐŝŐŶĞĚ ƚŽ͗

R ĞƚĞƌŵŝŶĞ ƚŚĞƐƚƌƵĐƚƵƌĂůĐŽŶƚƌŽůƐ ŽŶ ǀĂƌŝŽƵƐ ƐƚLJůĞƐ ŽĨŵŝŶĞƌĂůŝƐĂƚŝŽŶ
R /ĚĞŶƚŝĨLJ ĂůƚĞƌĂƚŝŽŶĂŶĚ ƌŽĐŬ ƚLJƉĞƐ ƚŽ ĂŝĚ ƚŚĞ ŝŶƚĞƌƉƌĞƚĂƚŝŽŶŽĨŵŝŶĞƌĂůŝƐĂƚŝŽŶ
R dǁŝŶƉƌĞǀŝŽƵƐůLJĚƌŝůůĞĚZ ŚŽůĞƐ ƚŽ ĂůƐŽ ĚĞƚĞƌŵŝŶĞ ƚŚĞ ĐůŽƐĞͲƐƉĂĐĞĚ ŐƌĂĚĞǀĂƌŝĂďŝůŝƚLJŽĨƚŚĞ ŐŽůĚ ĚĞƉŽƐŝƚƐ ĂŶĚ ĂƐ YY ŽŶ ƚŚĞ Z ƌĞƐƵůƚƐ

dŚĞ ŽŵƉĂŶLJĂŶŶŽƵŶĐĞĚ ĨƵƌƚŚĞƌĂƐƐĂLJ ƌĞƐƵůƚƐ ĂŶĚ ĚĞĨŝŶĞĚ ƚǁŽ ŶĞǁŐŽůĚ njŽŶĞƐ ŶĂŵĞĚ ͞DĂƌƐŚĂůů WƌŽƐƉĞĐƚ͟ ĂŶĚ ͞**&ĞŶĚĞƌ WƌŽƐƉĞĐƚ**͟ ĨƌŽŵ ƚŚĞ Z ƉƌŽŐƌĂŵ ĐŽŵƉůĞƚĞĚŝŶƚŚĞ :ƵŶĞ ƋƵĂƌƚĞƌ;ƌĞůĞĂƐĞĚ ƚŽ ƚŚĞ^yŽŶ ϰ ƵŐƵƐƚ ϮϬϮϮ ĂŶĚ Ϯϴ ^ĞƉƚĞŵďĞƌ ϮϬϮϮͿ ;&ŝŐƵƌĞϮͿ͘

dŚĞ DĂƌƐŚĂůůWƌŽƐƉĞĐƚ ŝƐ ƉĂƌĂůůĞůƚŽ͕ĂŶĚ ĂƉƉƌŽdžŝŵĂƚĞůLJϭϱϬŵ ǁĞƐƚ ŽĨ ƚŚĞ zŝĚďLJ 'ŽůĚĚĞƉŽƐŝƚ͘ dŚĞ ŵŝŶĞƌĂůŝƐĂƚŝŽŶŝƐ ŚŽƐƚĞĚ ǁŝƚŚŝŶƐĐŚŝƐƚŽƐĞŵĂĨŝĐ ƚŽ ƵůƚƌĂŵĂĨŝĐ ƌŽĐŬƐ ĨĞĂƚƵƌŝŶŐ ůŽĐĂůŝƐĞĚƋƵĂƌƚnjͲĨĞůĚƐƉĂƌ ƉŽƌƉŚLJƌŝĞƐ ĂŶĚ ƋƵĂƌƚnj ůŽĚĞƐ ǁŝƚŚ ĂƌƐĞŶŽƉLJƌŝƚĞ ;ĂƌƐĞŶŽƉLJƌŝƚĞ ŝƐ Ă ĐŽŵŵŽŶ ŝŶĚŝĐĂƚŽƌ ŽĨ ŐŽůĚ ŵŝŶĞƌĂůŝƐĂƚŝŽŶͿ͕ůŝŬĞ ƚŚĞ ŐŽůĚŝŶƚĞƌƐĞĐƚŝŽŶƐ ǁŝƚŚŝŶzŝĚďLJ͘

ŝƐĐŽǀĞƌLJŚŽůĞzZϬϱϵ ǁŝƚŚŝŶƚŚĞ DĂƌƐŚĂůůWƌŽƐƉĞĐƚ ĚŝƐƉůĂLJƐ Ă ŚŝŐŚͲŐƌĂĚĞƋƵĂƌƚnj ůŽĚĞĐŽƌĞǁŝƚŚŝŶĂ ďƌŽĂĚ ŐŽůĚnjŽŶĞ͗

zZϬϱϵ	ϲϬŵ	Λ	ϭ͘Ϭϰ	Őͬƚ ƵĨƌŽŵ	ϯϮŵ
ŝŶĐůƵĚŝŶŐ	ϰŵ	Λ	ϭϬ͘ϰϬ	Őͬƚ ƵĨƌŽŵ	ϳϮŵ

dŚĞ &ĞŶĚĞƌ WƌŽƐƉĞĐƚ ĂůƐŽ ĨĞĂƚƵƌĞƐ ďƌŽĂĚ ŐŽůĚŵŝŶĞƌĂůŝƐĂƚŝŽŶ ĂƐƐŽĐŝĂƚĞĚ ǁŝƚŚ ĂƌƐĞŶŽƉLJƌŝƚĞ ŽŶƚŚĞ ŵĂƌŐŝŶƐ ŽĨŵƵůƚŝƉůĞ ǁŝĚĞ͕ŶŽƌƚŚͲƚŽͲƐŽƵƚŚƐƚƌŝŬŝŶŐ ƐƵďǀĞƌƚŝĐĂů ƋƵĂƌƚnjͲĨĞůĚƐƉĂƌ ƉŽƌƉŚLJƌŝĞƐ͘ dŚĞ &ĞŶĚĞƌ ĚŝƐĐŽǀĞƌLJŚŽůĞ͕zZϬϲϵ͕ŝŶƚĞƌƐĞĐƚĞĚĂ ϵϬŵͲǁŝĚĞ ĚŽǁŶŚŽůĞnjŽŶĞ ŽĨĂďƵŶĚĂŶƚ ĂƌƐĞŶŽƉLJƌŝƚĞ ŽĐĐƵƌƌŝŶŐ ĂƐ ŝƌƌĞŐƵůĂƌďůĞďƐ ƚŽ Ă ĨĞǁ ŵŝůůŝŵĞƚƌĞƐ ŝŶ ƐŝnjĞ͕ĂƐƐŽĐŝĂƚĞĚǁŝƚŚ ƚŚĞ ƋƵĂƌƚnjͲĨĞůĚƐƉĂƌƉŽƌƉŚLJƌŝĞƐ͘ dŚĞ ƐŝŐŶŝĨŝĐĂŶƚ ŝŶƚĞƌƐĞĐƚŝŽŶ ŝƐ͗

zZϬϲϵ	ϮϬŵ	Λ	Ϭ͘ϰϯ	Őͬƚ ƵĨƌŽŵ	ϭϬϰŵ
ĂŶĚ	ϯϮŵ	Λ	Ϭ͘ϯϮ	Őͬƚ ƵĨƌŽŵ	ϭϰϰŵ

dŚĞ Z ĚĂƚĂ ǁŝůůďĞŝŶƚĞƌƉƌĞƚĞĚŝŶ ĐŽŶũƵŶĐƚŝŽŶ ǁŝƚŚƌĞƐƵůƚƐ ĨƌŽŵ ƚŚĞĐƵƌƌĞŶƚ ĚŝĂŵŽŶĚ ĐŽƌĞƉƌŽŐƌĂŵ ƚŽ ŐƵŝĚĞ ƚŚĞŶĞdžƚ ƌŽƵŶĚ ŽĨĚƌŝůůŝŶŐ͘

&ŝŐƵƌĞϮ WůĂŶ ǀŝĞǁ ŽĨƚŚĞzŝĚďLJ'ŽůĚ WƌŽũĞĐƚ͕ ƐŚŽǁŝŶŐ DĂƌƐŚĂůů͕ &ĞŶĚĞƌ ĂŶĚ zŝĚďLJnjŽŶĞƐƌĞĐĞŶƚ ĂƐƐĂLJ ŝŶƚĞƌƐĞĐƚŝŽŶƐ;^yƌĞůĞĂƐĞƐ Ϯϭ DĂƌĐŚ͕ ϮϴƉƌŝů͕ ϭϰ :ƵŶĞ͕ĂŶĚ ϰƵŐƵƐƚ ϮϬϮϮͿ͘

s/dKZzKZʹ hE>z,/>>sE/hD WZK:d

dŚĞ ƚĞĐŚŶŝĐĂů ƉƌŽŐƌĂŵ Ăƚ ƚŚĞ sŝĐƚŽƌLJ ŽƌĞ Ͳ hŶĂůLJ ,ŝůů sĂŶĂĚŝƵŵ WƌŽũĞĐƚ ŚĂƐ ĂĚǀĂŶĐĞĚ ǁŝƚŚ ƚŚĞ ĐŽŵƉůĞƚŝŽŶ ŽĨĂ ϱ͕ϭϴϴŵŝŶĨŝůůZ ĚƌŝůůŝŶŐ ƉƌŽŐƌĂŵ ĂƐ ƉĂƌƚ ŽĨ ƚŚĞ ŝŶͲƉƌŽŐƌĞƐƐ W&^͘ dŚĞŝŶĨŝůůĚƌŝůůŝŶŐǁĂƐ ĚĞƐŝŐŶĞĚ ƚŽ ƵƉŐƌĂĚĞ ƚŚĞ ƌĞƐŽƵƌĐĞ ĐĂƚĞŐŽƌLJĂŶĚ ƉƌŽǀŝĚĞ ƐĂŵƉůĞƐ ĨŽƌĨƵƌƚŚĞƌ ŵĞƚĂůůƵƌŐŝĐĂůƚĞƐƚ ǁŽƌŬ ĐŽŵƉŽŶĞŶƚ ŽĨƚŚĞ W&^͘

W&^ĚƌŝůůŝŶŐ ǁĂƐ ĨŽĐƵƐƐĞĚ ŽŶ Ă ϭ͘ϰŬŵ ůŽŶŐ ƐĞĐƚŝŽŶ ŽĨƚŚĞǀĂŶĂĚŝƵŵ ƌĞƐŽƵƌĐĞ͕ ǁŝƚŚ ŽŶůLJϴŬŵ ŽĨƚŚĞ ϮϬŬŵͲůŽŶŐ ŚŽƐƚ ŝŶƚƌƵƐŝŽŶ ŚĂƐ ďĞĞŶ ĚƌŝůůĞĚ ;&ŝŐƵƌĞ ϰͿ͘

ďŽƵƚ zŝĚďLJ

dŚĞ zŝĚďLJ 'ŽůĚ WƌŽũĞĐƚ ŝƐ ǁĞůůůŽĐĂƚĞĚĂĚũĂĐĞŶƚ ƚŽ ƚŚĞ 'ƌĞĂƚ EŽƌƚŚĞƌŶ,ŝŐŚǁĂLJ͕ ϰϬŬŵ ƐŽƵƚŚǁĞƐƚ ŽĨWĂLJŶĞƐ &ŝŶĚŝŶ ƚŚĞ DŝĚͲtĞƐƚ ŽĨtĞƐƚĞƌŶƵƐƚƌĂůŝĂ͕ ĂŶĚŝŶ ƚŚĞ ƐŽƵƚŚĞƌŶ ƉŽƌƚŝŽŶ ŽĨƚŚĞzĂůŐŽŽͲ ^ŝŶŐůĞƚŽŶ 'ƌĞĞŶƐƚŽŶĞĞůƚ͕ƉĂƌƚ ŽĨƚŚĞ ƌĐŚĂĞĂŶ zŽƵĂŶŵŝdĞƌƌĂŶĞ͘

dŚĞ WƌŽũĞĐƚ ĐŽŵƉƌŝƐĞƐ ƚŚƌĞĞ ŐƌĂŶƚĞĚ ĞdžƉůŽƌĂƚŝŽŶůŝĐĞŶĐĞƐ ǁŝƚŚĂ ƚŽƚĂůĂƌĞĂ ŽĨϭϭϰ Ŭŵϸ ĂŶĚŝŶĐůƵĚĞƐ ƚŚƌĞĞ ƉƌŽƐƉĞĐƚƐ ǁŚĞƌĞƐŝŐŶŝĨŝĐĂŶƚ ŐŽůĚ ŵŝŶĞƌĂůŝƐĂƚŝŽŶŚĂƐ ďĞĞŶ ŝĚĞŶƚŝĨŝĞĚ͘ dŚĞLJĂƌĞĂƐƐŽĐŝĂƚĞĚ ǁŝƚŚ ŚŝƐƚŽƌŝĐĂůǁŽƌŬŝŶŐƐ Ăƚ ĞůĂŶĞLJtĞůů ĂŶĚ ĂƐŚĞŶƐ &ŝŶĚ͕ĂŶĚ Ăƚ ^ƵƌĞĨŝƌĞ͛Ɛ zŝĚďLJ'ŽůĚ ĚŝƐĐŽǀĞƌLJ͘

dŚĞ zŝĚďLJ ŐŽůĚ ŵŝŶĞƌĂůŝƐĂƚŝŽŶ ŝƐ Ă ͚ďůŝŶĚ ĚŝƐĐŽǀĞƌLJ͖͛ƚŚĞĂƌĞĂ ŝƐ ĐŽǀĞƌĞĚďLJ ƵƉƚŽ ϮϬ ŵĞƚƌĞƐ ŽĨďĂƌƌĞŶƚƌĂŶƐƉŽƌƚĞĚ ŽǀĞƌďƵƌĚĞŶ ƚŚĂƚŽǀĞƌůŝĞƐ ĂŶĚ ŵĂƐŬƐ ƚŚĞ ŐŽůĚ ŵŝŶĞƌĂůŝƐĂƚŝŽŶ͘ ^ƵƌĞĨŝƌĞŚĂƐ ĚƌŝůůĞĚŽǀĞƌϴϬ Z ĂŶĚ ŚŽůĞƐ ĨŽƌŽǀĞƌϵ͕ϬϬϬŵ ƚŽ ĚĂƚĞ͘

dŚĞ WƌŽũĞĐƚ ŝƐ ƐƵƌƌŽƵŶĚĞĚ ďLJ ƐĞǀĞƌĂůƐŝŐŶŝĨŝĐĂŶƚ ŐŽůĚ ĚĞƉŽƐŝƚƐ͕ŝŶĐůƵĚŝŶŐ ƚŚĞ нϭ͘ϭ ŵŝůůŝŽŶͲŽƵŶĐĞ DŝŶũĂƌ'ŽůĚ WƌŽũĞĐƚ ĂƉƉƌŽdžŝŵĂƚĞůLJ ϲϱŬŵ ƚŽ ƚŚĞ ŶŽƌƚŚǁĞƐƚ͕ƚŚĞ ϭ ŵŝůůŝŽŶͲŽƵŶĐĞ <ŝƌŬĂůŽĐŬĂ 'ŽůĚWƌŽũĞĐƚ ĂƉƉƌŽdžŝŵĂƚĞůLJ ϳϬŬŵ ƚŽ ƚŚĞ ŶŽƌƚŚĞĂƐƚ͕ƚŚĞ Ϯ͘ϭDŽnj DŽƵŶƚ 'ŝďƐŽŶ'ŽůĚ WƌŽũĞĐƚ ϯϬŬŵ ƚŽ ƚŚĞ ƐŽƵƚŚ͕ ĂŶĚƚŚĞ Ϭ͘ϱϰDŽnj ZŽƚŚƐĂLJ 'ŽůĚWƌŽũĞĐƚ ϯϬŬŵ ƚŽ ƚŚĞ ǁĞƐƚ͘

dŚĞ sŝĐƚŽƌLJŽƌĞʹ hŶĂůLJ,ŝůůĚĞƉŽƐŝƚƐ ĐŽŶƚĂŝŶŽǀĞƌϮ͘ϮďŝůůŝŽŶ ƉŽƵŶĚƐŽĨǀĂŶĂĚŝƵŵƉĞŶƚŽdžŝĚĞ;sϮKϱͿ͕ ŵĂŬŝŶŐ ƚŚŝƐ ŽŶĞ ŽĨƚŚĞ ůĂƌŐĞƐƚ ǀĂŶĂĚŝƵŵ ƌĞƐŽƵƌĐĞƐ ŝŶ ƵƐƚƌĂůŝĂ͗

ϮϯϳDƚ Λ Ϭ͘ϰϯй ǀĂŶĂĚŝƵŵƉĞŶƚŽdžŝĚĞ;sϮKϱͿ͕ Ϯϰ͘ϵй &Ğ͕ ĂŶĚ ϱ͘ϵй dŝKϮ

dŚĞ DŝŶĞƌĂůZĞƐŽƵƌĐĞƐƚŝŵĂƚĞ ǁĂƐ ĐŽŵƉůĞƚĞĚďLJ^'ůŽďĂůWƚLJ >ƚĚŝŶĂĐĐŽƌĚĂŶĐĞ ǁŝƚŚ :KZ ;ϮϬϭϮͿ ĂŶĚ ĂŶŶŽƵŶĐĞĚ ŽŶ Ϯϵ :ƵŶĞ ϮϬϭϳ ;^y͗YE>Ϳ͘ dŚĞ ĞƐƚŝŵĂƚĞ ǁĂƐ ƉƌĞƉĂƌĞĚĂŶĚ ĂƵƚŚŽƌŝƐĞĚ ďLJDƌ tŝůůŝĂŵƐ͕ Ă ĨƵůůͲƚŝŵĞ ĞŵƉůŽLJĞĞ ŽĨ^ ĂŶĚ Ă ŽŵƉĞƚĞŶƚ WĞƌƐŽŶ ƵŶĚĞƌ:KZ ;ϮϬϭϮͿ͘ dŚĞ ĐŽŵƉĂŶLJ ĐŽŶĨŝƌŵƐ ƚŚĂƚ͗ Ăůů ŵĂƚĞƌŝĂů ĂƐƐƵŵƉƚŝŽŶƐ ĂŶĚ ƚĞĐŚŶŝĐĂů ƉĂƌĂŵĞƚĞƌƐ ƵŶĚĞƌƉŝŶŶŝŶŐ ƚŚĞ ĞƐƚŝŵĂƚĞƐ ĐŽŶƚŝŶƵĞ ƚŽ ĂƉƉůLJ ĂŶĚ ŚĂǀĞ ŶŽƚ ŵĂƚĞƌŝĂůůLJ ĐŚĂŶŐĞĚ ĂŶĚ ƚŚĂƚ ƚŚĞ ĨŽƌŵ ĂŶĚ ĐŽŶƚĞdžƚ ŝŶ ǁŚŝĐŚ ƚŚĞ ŽŵƉĞƚĞŶƚ WĞƌƐŽŶ͛Ɛ ĨŝŶĚŝŶŐƐ ĂƌĞƉƌĞƐĞŶƚĞĚ ŚĂǀĞŶŽƚ ďĞĞŶ ŵĂƚĞƌŝĂůůLJ ŵŽĚŝĨŝĞĚ͘

&ŝŐƵƌĞϯ KƵƚĐƌŽƉƉŝŶŐ ǀĂŶĂĚŝƵŵͲ ŵĂŐŶĞƚŝƚĞŵŝŶĞƌĂůŝƐĂƚŝŽŶ Ăƚ sŝĐƚŽƌLJŽƌĞsĂŶĂĚŝƵŵĞƉŽƐŝƚ͘

^ĐŽƉŝŶŐͲůĞǀĞů ŵĞƚĂůůƵƌŐŝĐĂů ƚĞƐƚ ǁŽƌŬ ŚĂƐ ĐŽŶĨŝƌŵĞĚ ĞdžĐĞůůĞŶƚ ǀĂŶĂĚŝƵŵ ƌĞĐŽǀĞƌLJ ƵƐŝŶŐ ŝŶĚƵƐƚƌLJͲ ƐƚĂŶĚĂƌĚ ƉƌŽĐĞƐƐĞƐ ŝŶĐůƵĚŝŶŐ ŵĂŐŶĞƚŝĐ ƐĞƉĂƌĂƚŝŽŶ ĂŶĚ ƐĂůƚ ƌŽĂƐƚ ůĞĂĐŚŝŶŐ ƚŽ ƉƌŽĚƵĐĞ ǀĂŶĂĚŝƵŵ ƉĞŶƚŽdžŝĚĞƉƌŽĚƵĐƚ ;ƐĞĞ ^yƌĞůĞĂƐĞƐ ϭϵ Ɖƌŝů ĂŶĚ ϰ DĂLJϮϬϮϮͿ͘

dŚĞ sŝĐƚŽƌLJŽƌĞʹ hŶĂůLJ,ŝůůĚĞƉŽƐŝƚƐ ĂƌĞ ĐŽŶƚĂŝŶĞĚ ǁŝƚŚŝŶĂ ůĂLJĞƌĞĚŐĂďďƌŽ ǁŝƚŚ ŵƵůƚŝƉůĞƐƚĂĐŬĞĚ ǀĂŶĂĚŝƵŵͲƚŝƚĂŶŝƵŵͲŵĂŐŶĞƚŝƚĞ ƌŝĐŚ ůĂLJĞƌƐ ƵƉƚŽ ϴϬŵ ǁŝĚĞ͘ dŚĞůĂLJĞƌĞĚ ŐĂďďƌŽ ƐƚƌŝŬĞƐ ϬϮϬ Ž ĂŶĚ ĚŝƉƐ ϴϬŽ ƚŽ ƚŚĞ ǁĞƐƚ͕ǁŝƚŚ ĞdžĐĞůůĞŶƚ ĐŽŶƚŝŶƵŝƚLJƐĞĞŶ ďĞƚǁĞĞŶ ĚƌŝůůŚŽůĞƐ͘ tĞĂƚŚĞƌŝŶŐ ŝƐ ƐŚĂůůŽǁ͕ ǁŝƚŚ ĨƌĞƐŚ ƌŽĐŬ ĐŽŶƐŝƐƚĞŶƚůLJůŽŐŐĞĚ ĨƌŽŵ ϭϬ ƚŽ Ϯϱŵ ďĞůŽǁƐƵƌĨĂĐĞ͘ dŚŝƐ ĞdžĐĞůůĞŶƚ ŐĞŽŵĞƚƌLJ ĂŶĚ ĐŽŶƚŝŶƵŝƚLJŽĨ ŵŝŶĞƌĂůŝƐĂƚŝŽŶ͕ ǁŝƚŚ Ă ƌĞůĂƚŝǀĞůLJƚŚŝŶ ǁĞĂƚŚĞƌĞĚ ŽǀĞƌďƵƌĚĞŶ͕ŝƐ ĞdžƉĞĐƚĞĚ ƚŽ ƐƵƉƉŽƌƚ ĨĂǀŽƵƌĂďůĞŵŝŶŝŶŐ ĐŽŶĚŝƚŝŽŶƐ͘

ƌŝƚŝĐĂůDŝŶĞƌĂů^ƚĂƚƵƐ

sĂŶĂĚŝƵŵ͛Ɛ ĐůĂƐƐŝĨŝĐĂƚŝŽŶ ĂƐ Ă ͞ƌŝƚŝĐĂů DŝŶĞƌĂů͟ ŽĨ ŶĂƚŝŽŶĂůƐƚƌĂƚĞŐŝĐ ŝŵƉŽƌƚĂŶĐĞ ŝŶƚŚĞ h^͕ h͕ ƵƐƚƌĂůŝĂ͕ /ŶĚŝĂ ĂŶĚ ŽƚŚĞƌ ũƵƌŝƐĚŝĐƚŝŽŶƐ ŝƐ ĂŶƚŝĐŝƉĂƚĞĚƚŽ ƐƵƉƉŽƌƚ ƚŚĞ ĚĞǀĞůŽƉŵĞŶƚ ŽĨ Ă ǀĂŶĂĚŝƵŵ ŵŝŶŝŶŐ ĂŶĚ ƉƌŽĐĞƐƐŝŶŐ ŝŶĚƵƐƚƌLJŝŶ ƵƐƚƌĂůŝĂ͘

sĂŶĂĚŝƵŵ ŵĂƌŬĞƚ ĐŽŶĚŝƚŝŽŶƐ ƌĞŵĂŝŶ ƐƚƌŽŶŐ͕ ǁŝƚŚ ŐƌŽǁŝŶŐ ĚĞŵĂŶĚ ĨƌŽŵ ƚƌĂĚŝƚŝŽŶĂů ƵƐĞƐ ŝŶƐƚĞĞů ƐƚƌĞŶŐƚŚĞŶŝŶŐ͕ ĂŶĚ ŵŽƌĞ ŝŵƉŽƌƚĂŶƚůLJ͕ ƚŚĞ ŵĂƐƐ ĐŽŵŵĞƌĐŝĂůŝƐĂƚŝŽŶ ŽĨ ƵƚŝůŝƚLJͲƐĐĂůĞ ǀĂŶĂĚŝƵŵ ƌĞĚŽdž ĨůŽǁďĂƚƚĞƌLJ ƐƚŽƌĂŐĞƐLJƐƚĞŵƐ ;sZ&͛ƐͿ͘

ŚŝŶĂ ĂŶĚ ZƵƐƐŝĂ ĂĐĐŽƵŶƚ ĨŽƌĂƉƉƌŽdžŝŵĂƚĞůLJ ϲϬйŽĨ ƚŚĞ ǁŽƌůĚ͛Ɛ ǀĂŶĂĚŝƵŵ ƉƌŽĚƵĐƚŝŽŶ͕ ǁŚŝůĞ ƚŚĞh^ ŝŵƉŽƌƚƐ ĂůŵŽƐƚ ϭϬϬй ŽĨŝƚƐ ǀĂŶĂĚŝƵŵ͘ ŝǀĞƌƐŝƚLJŽĨƐƵƉƉůLJŝƐƐŽƵŐŚƚ ĨƌŽŵ ũƵƌŝƐĚŝĐƚŝŽŶƐƐƵĐŚ ĂƐ ƵƐƚƌĂůŝĂ͘

^ƵƌĞĨŝƌĞ ŚĂƐ ŝŶŝƚŝĂƚĞĚ ĚŝƐĐƵƐƐŝŽŶƐ ǁŝƚŚ ƉŽƚĞŶƚŝĂů ƉĂƌƚŶĞƌƐ ĂŶĚ ƚŽ ƚŚŝƐ ĞŶĚ ŚĂƐ ĞŶŐĂŐĞĚ ǁŝƚŚ ƚŚĞ ƵƐƚƌĂůŝĂŶ 'ŽǀĞƌŶŵĞŶƚ͛Ɛ ƌŝƚŝĐĂů DŝŶĞƌĂůƐ KĨĨŝĐĞ ŝŶ ŝĚĞŶƚŝĨLJŝŶŐ ĨƵŶĚŝŶŐ ƐŽƵƌĐĞƐ͕ ŝŶǀĞƐƚŽƌƐ͕ ĂŶĚ ƉŽƚĞŶƚŝĂůĚĞǀĞůŽƉŵĞŶƚ ƉĂƌƚŶĞƌƐ ĂƐ ǁĞĞdžĞĐƵƚĞƚŚĞ ĨĞĂƐŝďŝůŝƚLJƐƚƵĚŝĞƐ ĂŶĚ ĂĚǀĂŶĐĞ sŝĐƚŽƌLJŽƌĞͲhŶĂůLJ ,ŝůů ƚŽǁĂƌĚƐ Ă &ĞĂƐŝďŝůŝƚLJ ^ƚƵĚLJ͘

&ŝŐƵƌĞϰ

sŝĐƚŽƌLJŽƌĞ sĂŶĂĚŝƵŵ ĞƉŽƐŝƚ ŝŶĨŝůůZĚƌŝůůŝŶŐ͕ ĂŶĚ ƌĞƐŽƵƌĐĞ ůŽĐĂƚŝŽŶ ǁŝƚŚŝŶ ƚŚĞĞdžƚĞŶƐŝǀĞůĂLJĞƌĞĚ ŐĂďďƌŽ ĐŽŵƉůĞdžĂŶĚ ^ƵƌĞĨŝƌĞ͛Ɛ ƚĞŶƵƌĞ͘

/ŶĨĞƌƌĞĚZĞƐŽƵƌĐĞƐ ;:KZ ϮϬϭϮͿ ŝŶƚŚĞ ĐŽŵďŝŶĞĚ ƉƌŽũĞĐƚ ĂƌĞĂ ĂƌĞ͗

dĞŶĞŵĞŶƚ	DŝůůŝŽŶ	sϮKϱ	sϮKϱ	&Ğ	dŝKϮ	W	^ŝKϮ
	dŽŶŶĞƐ	;йͿ	;ƚŽŶŶĞƐͿ	;йͿ	;йͿ	;йͿ	;йͿ
sŝĐƚŽƌLJŽƌĞϭ	ϭϱϭ	Ϭ͘ϰϰ	ϲϲϰ͕ϬϬϬ	Ϯϱ͘Ϭ	ϲ͘ϳϯ	Ϭ͘Ϭϭϯ	Ϯϴ͘ϲ
hŶĂůLJ,ŝůůϮ	ϴϲ͘Ϯ	Ϭ͘ϰϮ	ϯϲϱ͕ϬϬϬ	Ϯϰ͘ϴ	ϰ͘ϱ		Ϯϴ͘ϲ
dKd>	Ϯϯϳ	Ϭ͘ϰϯ	ϭ͕ϬϯϬ͕ϬϬϬ	Ϯϰ͘ϵ	ϱ͘ϵϮ		Ϯϴ͘ϲ

/Ŷ DĂLJϮϬϮϮ͕ƚŚĞ ŽŵƉĂŶLJ ƵƉĚĂƚĞĚ ŝƚƐ sŝĐƚŽƌLJŽƌĞ^ĐŽƉŝŶŐ ^ƚƵĚLJ͕ ĐŽŶĨŝƌŵŝŶŐ ĞĐŽŶŽŵŝĐ ǀŝĂďŝůŝƚLJ ŽĨƚŚĞWƌŽũĞĐƚ Ăƚ ƉƌĞǀĂŝůŝŶŐǀĂŶĂĚŝƵŵ ƉƌŝĐĞƐ ĂŶĚ ƚŚĞ ƐƵŝƚĂďŝůŝƚLJŽĨĐŽŶǀĞŶƚŝŽŶĂůďĞŶĞĨŝĐŝĂƚŝŽŶ ĞƋƵŝƉŵĞŶƚ ĂŶĚ ƉƌŽĐĞƐƐĞƐ͘

ϭ^y ƌĞůĞĂƐĞ YE> Ϯϵ :ƵŶĞ ϮϬϭϳ͕ Ϯ^y ƌĞůĞĂƐĞ Z Ϯϭ EŽǀĞŵďĞƌ ϮϬϭϭ͘ ^ZEĐŽŶĨŝƌŵƐ ƚŚĂƚŝƚŝƐ ŶŽƚ ĂǁĂƌĞ ŽĨ ĂŶLJ ŶĞǁ ŝŶĨŽƌŵĂƚŝŽŶ Žƌ ĚĂƚĂ ƚŚĂƚ ŵĂƚĞƌŝĂůůLJ ĂĨĨĞĐƚƐ ƚŚĞ ŝŶĨŽƌŵĂƚŝŽŶ ŝŶĐůƵĚĞĚ ŝŶ ƚŚĞ ƉƌĞǀŝŽƵƐ ŵĂƌŬĞƚ ĂŶŶŽƵŶĐĞŵĞŶƚƐ͕ ĂŶĚ Ăůů ŵĂƚĞƌŝĂů ĂƐƐƵŵƉƚŝŽŶƐ ĂŶĚ ƚĞĐŚŶŝĐĂů ƉĂƌĂŵĞƚĞƌƐ ƵŶĚĞƌƉŝŶŶŝŶŐ ƚŚĞ ĞƐƚŝŵĂƚĞƐ ŝŶ ƚŚĞ ƌĞůĞǀĂŶƚĂŶŶŽƵŶĐĞŵĞŶƚƐ ĐŽŶƚŝŶƵĞ ƚŽĂƉƉůLJ ĂŶĚ ŚĂǀĞ ŶŽƚ ŵĂƚĞƌŝĂůůLJ ĐŚĂŶŐĞĚ͘ dŚĞ ŽŵƉĂŶLJ ĐŽŶĨŝƌŵƐ ƚŚĂƚ ƚŚĞ ĨŽƌŵ ĂŶĚ ĐŽŶƚĞdžƚŝŶ ǁŚŝĐŚ ƚŚĞ ŽŵƉĞƚĞŶƚWĞƌƐŽŶ͛ƐĨŝŶĚŝŶŐƐ ĂƌĞ ƉƌĞƐĞŶƚĞĚ ŚĂǀĞ ŶŽƚŵĂƚĞƌŝĂůůLJ ĐŚĂŶŐĞĚ ĨƌŽŵ ƚŚĞ ŽƌŝŐŝŶĂů ŵĂƌŬĞƚĂŶŶŽƵŶĐĞŵĞŶƚ͘

WZE:KZ/ WZD/hD /ZKEWZK:d

ϱ͕ϬϬϬŵZ ĚƌŝůůŝŶŐ ƉƌŽŐƌĂŵ ŝƐ ƉůĂŶŶĞĚ ĨŽƌƚŚĞ WĞƌĞŶũŽƌŝWƌĞŵŝƵŵ /ƌŽŶ WƌŽũĞĐƚ ƚŽ ŝŶĨŝůů ƚŚĞ ĐƵƌƌĞŶƚ ϮϬϬŵƐƉĂĐĞĚ ĚƌŝůůŝŶŐ ůŝŶĞƐ ƚŽ ϭϬϬŵ ƐƉĂĐŝŶŐ͘ dŚŝƐ ŝŶĨŝůůĚƌŝůůŝŶŐ ŝƐ ĚĞƐŝŐŶĞĚ ƚŽ ƵƉŐƌĂĚĞ ƚŚĞ ƌĞƐŽƵƌĐĞ ĐĂƚĞŐŽƌLJ͕ ĂŶĚ ƚŽ ƉƌŽǀŝĚĞ ƐĂŵƉůĞƐ ĨŽƌŵĞƚĂůůƵƌŐŝĐĂů ƚĞƐƚ ǁŽƌŬ ĂƐ ƉĂƌƚ ŽĨƚŚĞ ƵƉĐŽŵŝŶŐ WƌĞĨĞĂƐŝďŝůŝƚLJ ^ƚƵĚLJ͘

ĨůŽƌĂ ĂŶĚĨĂƵŶĂ ƐƵƌǀĞLJŝƐ ƐĐŚĞĚƵůĞĚ ƚŽ ĐŽŵŵĞŶĐĞ ŝŶ EŽǀĞŵďĞƌ͕ǁŚŝĐŚ ǁŝůůƐƵƉƉŽƌƚ ƚŚĞ WƌŽŐƌĂŵ ŽĨ tŽƌŬƐ ĂŶĚ EĂƚŝǀĞsĞŐĞƚĂƚŝŽŶ ůĞĂƌŝŶŐWĞƌŵŝƚ ĂƉƉƌŽǀĂůƐ ƌĞƋƵŝƌĞĚ ĨŽƌĚƌŝůůŝŶŐ͘

WĞƌĞŶũŽƌŝŝƐ ŝĚĞĂůůLJ ůŽĐĂƚĞĚ ŝŶƚŚĞŝŶĨƌĂƐƚƌƵĐƚƵƌĞͲƌŝĐŚ DŝĚͲtĞƐƚ ŵŝŶŝŶŐ ĚŝƐƚƌŝĐƚ ŽĨtĞƐƚĞƌŶƵƐƚƌĂůŝĂ͕ ǁŝƚŚ ƌĂŝů ůŝŶŬƐ ǁŝƚŚŝŶϭϰŬŵ ĂŶĚĂ ŚŝŐŚ ǀŽůƚĂŐĞ ƚƌĂŶƐŵŝƐƐŝŽŶ ůŝŶĞ ŶĞĂƌďLJ ƚŚĞ WƌŽũĞĐƚ ;&ŝŐƵƌĞ ϱͿ͘ dŚĞ WƌŽũĞĐƚ ŝƐ ƐŝŐŶŝĨŝĐĂŶƚůLJĐůŽƐĞƌƚŽ ƚŚĞ ĐŽĂƐƚ ƚŚĂŶ ŽƚŚĞƌtĞƐƚĞƌŶƵƐƚƌĂůŝĂŶŵĂŐŶĞƚŝƚĞ ƉƌŽũĞĐƚƐ͕ǁŝƚŚƌĂŝů ĚŝƐƚĂŶĐĞ ƚŽ ƚŚĞ ƉŽƌƚ ŽĨ'ĞƌĂůĚƚŽŶĂƚ ϮϭϵŬŵ͘

ŽŵƉĞůůŝŶŐ DĞƚĂůůƵƌŐLJ

WĞƌĞŶũŽƌŝŝƐ ǁĞůůƉŽƐŝƚŝŽŶĞĚ ƚŽ ĚĞůŝǀĞƌ ŚŝŐŚͲŐƌĂĚĞ ŝƌŽŶ ĐŽŶĐĞŶƚƌĂƚĞƐ ŝŶƚŽ ŶĞdžƚͲŐĞŶĞƌĂƚŝŽŶnjĞƌŽͲĐĂƌďŽŶ ƐƚĞĞůƉůĂŶƚƐ͘

,ŝƐƚŽƌŝĐĂůĂǀŝƐ dƵďĞ ZĞĐŽǀĞƌLJƚĞƐƚͲǁŽƌŬ͕ĐŽŵƉůĞƚĞĚ ďLJƉƌĞǀŝŽƵƐ ŽǁŶĞƌƐ YƵĞƐƚ DŝŶĞƌĂůƐ >ƚĚ ;ƐĞĞ ^y ƌĞůĞĂƐĞ Ϯϲ &ĞďƌƵĂƌLJϮϬϭϯͿ͕ ƌĞĐŽǀĞƌĞĚ ϲϲ ƚŽ ϳϬ й &Ğ ĐŽŶĐĞŶƚƌĂƚĞ ŐƌĂĚĞƐ ĨƌŽŵ ƚŚĞ ƌĞůĂƚŝǀĞůLJ ĐŽĂƌƐĞ ĂŶĚ ĨĂǀŽƵƌĂďůĞŐƌŝŶĚƐŝnjĞ ŽĨϳϱ ђŵ͕ǁŝƚŚ ^ŝKϮ ĂǀĞƌĂŐŝŶŐ ϰ͘ϵй ĂŶĚůĞƐƐ ƚŚĂŶ Ϭ͘ϮйůϮKϯ͘ /ƚ ŝƐ ĞdžƉĞĐƚĞĚƐƵĐŚ Ă ƉƌĞŵŝƵŵ ŐƌĂĚĞĨĞĞĚǁŝůůďĞ ƐƵŝƚĂďůĞ ĨŽƌďůĂƐƚ ĨƵƌŶĂĐĞƉĞůůĞƚ ƉƌŽĚƵĐƚŝŽŶŽƌĂƐ Ă ŝƌĞĐƚ ZĞĚƵĐƚŝŽŶ/ƌŽŶ ;Z/Ϳ ĨĞĞĚ͘

DŝŶĞƌĂůZĞƐŽƵƌĐĞ ƐƚŝŵĂƚĞ

dŚĞ WĞƌĞŶũŽƌŝ /ƌŽŶ WƌŽũĞĐƚ DŝŶĞƌĂů ZĞƐŽƵƌĐĞ ŝƐ ƌĞůĂƚŝǀĞůLJ ŚŝŐŚ ŐƌĂĚĞ ĐŽŵƉĂƌĞĚ ƚŽ ŽƚŚĞƌ tĞƐƚĞƌŶ ƵƐƚƌĂůŝĂŶŵĂŐŶĞƚŝƚĞ ƉƌŽũĞĐƚƐ ĂŶĚ͕ ĂƐ ŽƵƚůŝŶĞĚ ĂďŽǀĞ͕ ĐĂŶ ďĞ ƵƉŐƌĂĚĞĚ ƚŽ ĐŝƌĐĂ ϳϬй &Ğ ĐŽŶĐĞŶƚƌĂƚĞ ŐƌĂĚĞ͘

Zone	Category	Tonnage Mt	Fe%	AI2O3%	SiO2%	S%
Core BIF Zone	Inferred	93.3	37.22	1.67	41.59	0.05
Eastern Belt (excludingCBZ)	Inferred	78.7	37.64	1.45	41.66	0.03
Western Belt	Inferred	19.7	29.77	3.39	47.04	0.32
Total	Inferred	191.7	36.61	1.75	42.18	0.07

dĂďůĞϯ͗ /ŶĨĞƌƌĞĚ ZĞƐŽƵƌĐĞƐŽĨƚŚĞ WĞƌĞŶũŽƌŝ/ƌŽŶ KƌĞWƌŽũĞĐƚ ;^y͗ YE> Ϯϳ ^ĞƉƚĞŵďĞƌ ϮϬϭϯͿ͘

/ŶĂĚĚŝƚŝŽŶ͕WĞƌĞŶũŽƌŝWƌĞŵŝƵŵ /ƌŽŶ WƌŽũĞĐƚ ŚĂƐ ĂŶ džƉůŽƌĂƚŝŽŶ dĂƌŐĞƚ ŽĨϴϳϬŵŝůůŝŽŶ ƚŽ ϭ͕ϮϰϬ ŵŝůůŝŽŶ ƚŽŶŶĞƐ ;DƚͿ Ăƚ Ă ŐƌĂĚĞ ŽĨ Ϯϵй ƚŽ ϰϭй ŝƌŽŶ ;&ĞͿ ĞdžĐůƵƐŝǀĞ ŽĨƚŚĞ /ŶĨĞƌƌĞĚ ZĞƐŽƵƌĐĞ ;^yƌĞůĞĂƐĞ ϯ &ĞďƌƵĂƌLJ ϮϬϮϮͿ͘

dŚĞ ƉŽƚĞŶƚŝĂů ƋƵĂŶƚŝƚLJ ĂŶĚ ŐƌĂĚĞ ŽĨ ƚŚĞ džƉůŽƌĂƚŝŽŶdĂƌŐĞƚ ŝƐ ĐŽŶĐĞƉƚƵĂůŝŶŶĂƚƵƌĞ͕ƚŚĞƌĞ ŚĂƐ ďĞĞŶ ŝŶƐƵĨĨŝĐŝĞŶƚ ĞdžƉůŽƌĂƚŝŽŶ ƚŽ ĞƐƚŝŵĂƚĞ Ă DŝŶĞƌĂů ZĞƐŽƵƌĐĞ ŽǀĞƌ ƚŚĞ ĞŶƚŝƌĞ ĂƌĞĂ ŽĨ ƚŚĞ džƉůŽƌĂƚŝŽŶdĂƌŐĞƚ͕ ĂŶĚŝƚ ŝƐ ƵŶĐĞƌƚĂŝŶŝĨĨƵƌƚŚĞƌĞdžƉůŽƌĂƚŝŽŶǁŝůůƌĞƐƵůƚ ŝŶƚŚĞ ĞƐƚŝŵĂƚŝŽŶ ŽĨ ĂŶ ŝŶĐƌĞĂƐĞĚDŝŶĞƌĂůZĞƐŽƵƌĐĞ͘

Figure 5

Perenjori Premium Iron Project is a high-grade magnetite resource in the Mid-West of WA and is located closest to the coast and existing infrastructure.

ďŽƵƚ WĞƌĞŶũŽƌŝ WƌĞŵŝƵŵ/ƌŽŶ WƌŽũĞĐƚ

dŚĞ WĞƌĞŶũŽƌŝ ƚĞŶĞŵĞŶƚƐ ĂƌĞ ůŽĐĂƚĞĚ ŽǀĞƌ ƚŚĞ <ŽŽůĂŶŽŽŬĂ 'ƌĞĞŶƐƚŽŶĞ Ğůƚ͕ Ă ƚLJƉŝĐĂů ŐƌĂŶŝƚĞͲ ŐƌĞĞŶƐƚŽŶĞ ƚĞƌƌĂŝŶŽĨƚŚĞ ƐŽƵƚŚĞƌŶDƵƌĐŚŝƐŽŶ 'ĞŽůŽŐŝĐĂůWƌŽǀŝŶĐĞ ŽĨƚŚĞ ƌĐŚĂĞĂŶ zŝůŐĂƌŶ ƌĂƚŽŶ͘

dŚĞ WĞƌĞŶũŽƌŝƚĞŶĞŵĞŶƚƐ ĂƌĞ ƵŶĚĞƌͲĞdžƉůŽƌĞĚ ĂŶĚ ŚŝŐŚůLJƉƌŽƐƉĞĐƚŝǀĞ͕ǁŝƚŚ ŶƵŵĞƌŽƵƐ ŐŽůĚ͕ ďĂƐĞ ŵĞƚĂůƐ ĂŶĚ ŝƌŽŶͲŽƌĞĚĞƉŽƐŝƚƐ ŽŶ ƚŚĞ ŽŵƉĂŶLJ͛Ɛ ƚĞŶƵƌĞĂŶĚ ŝŶ ƚŚĞ ǁŝĚĞƌƌĞŐŝŽŶ͘ EĞĂƌďLJ ƐŝŐŶŝĨŝĐĂŶƚ ŵŝŶĞƐ ŝŶĐůƵĚĞ ƚŚĞĞĨůĞĐƚŽƌ'ŽůĚDŝŶĞ ϯϬŬŵ ƚŽ ƚŚĞŶŽƌƚŚ͕<ĂƌĂƌĂ /ƌŽŶ KƌĞDŝŶĞ ϯϬŬŵ ƚŽ ƚŚĞ ĞĂƐƚ͕ ĂŶĚ ƚŚĞ 'ŽůĚĞŶ 'ƌŽǀĞ ďĂƐĞŵĞƚĂůƐ ĚĞƉŽƐŝƚƐ ϱϬŬŵ ƚŽ ƚŚĞ ŶŽƌƚŚĞĂƐƚ͘

ZĞƐŽƵƌĐĞ͗ WĞƌĞŶũŽƌŝ WƌĞŵŝƵŵ /ƌŽŶ WƌŽũĞĐƚ ŝƐ ĐĞŶƚƌĞĚ ŽŶ Ă ŵĂŐŶĞƚŝƚĞͲƌŝĐŚ ďĂŶĚĞĚŝƌŽŶ ĨŽƌŵĂƚŝŽŶ ;/&Ϳ͘ dŚĞ DŝŶĞƌĂůZĞƐŽƵƌĐĞ ŝƐ ĚĞĨŝŶĞĚ ǁŝƚŚ ŵŽƌĞƚŚĂŶ ϭϮϬŚŽůĞƐ ĚƌŝůůĞĚĂůŽŶŐ ƚŚĞƚǁŽ ůŝŵďƐ ŽĨ Ă ůĂƌŐĞͲƐĐĂůĞĨŽůĚĞĚ /& ƐƚƌƵĐƚƵƌĞ͘ ĂƚĂĨƌŽŵ ƚŚĞ ĞĂƐƚĞƌŶůŝŵď ĨŽƌŵƐ ƚŚĞďĂƐŝƐ ŽĨĂŶ /ŶĨĞƌƌĞĚ ZĞƐŽƵƌĐĞ ;:KZ ϮϬϬϰͿ ŽĨ͗ϭϵϭ͘ϳDƚ Λ ϯϲ͘ϲй &Ğϭ ͘

DĞƚĂůůƵƌŐLJ͗ /ŶŝƚŝĂů ĂǀŝƐ dƵďĞ ZĞĐŽǀĞƌLJ ƚĞƐƚͲǁŽƌŬ ƌĞĐŽǀĞƌĞĚϲϲ ƚŽ ϳϬй&Ğ ƉƌŽĚƵĐƚ Ăƚ Ă ĨĂǀŽƵƌĂďůĞ ĐŽĂƌƐĞŐƌŝŶĚƐŝnjĞ ŽĨϳϱ ђŵ ǁŝƚŚůŽǁŝŵƉƵƌŝƚŝĞƐ͘ dŚĞƉƌĞŵŝƵŵ ŐƌĂĚĞ ĨĞĞĚ ǁŽƵůĚ ďĞƐƵŝƚĞĚ ƚŽ ďůĂƐƚ ĨƵƌŶĂĐĞ ƉĞůůĞƚ ƉƌŽĚƵĐƚŝŽŶ ŽƌĂƐ Ă ŝƌĞĐƚ ZĞĚƵĐƚŝŽŶ /ƌŽŶĨĞĞĚ ĂŶĚ ĐŽŵŵĂŶĚ Ă ƉƌŝĐĞ ƉƌĞŵŝƵŵ ŽǀĞƌ ƚŚĞďĞŶĐŚŵĂƌŬ ϲϮй&ĞŚĞŵĂƚŝƚĞ ƉƌŽĚƵĐƚƐƚLJƉŝĐĂůůLJ ŵŝŶĞĚ ŝŶƚŚĞ WŝůďĂƌĂ ƌĞŐŝŽŶ ŽĨtĞƐƚĞƌŶƵƐƚƌĂůŝĂ͘

/E^/sZͲ>WZK:d

ƐƐĂLJƌĞƐƵůƚƐ ǁĞƌĞƌĞĐĞŝǀĞĚ ĚƵƌŝŶŐ ƚŚĞ ƋƵĂƌƚĞƌĨƌŽŵ ƌĞĐŽŶŶĂŝƐƐĂŶĐĞ ƌŽĐŬ ĐŚŝƉ ƐĂŵƉůŝŶŐ ĂŶĚ ŵĂƉƉŝŶŐ ;^yƌĞůĞĂƐĞ ϭϰ ^ĞƉƚĞŵďĞƌϮϬϮϮͿ͕ǁŝƚŚŚŝŐŚͲŐƌĂĚĞWďͲŐ ĂƐƐĂLJƐ ƵƉ ƚŽ͗

ϭϲ͘ϮйWď Θ ϰϭŐͬƚ Ő

ϭϰ͘ϮйWď Θ ϱϱŐͬƚ Ő

,ŝŐŚͲŐƌĂĚĞ ŵŝŶĞƌĂůŝƐĂƚŝŽŶ ŝƐ ĂƐƐŽĐŝĂƚĞĚ ǁŝƚŚ ĂŶ ĂŝƌďŽƌŶĞ ĞůĞĐƚƌŽŵĂŐŶĞƚŝĐ ĐŽŶĚƵĐƚŽƌ ;DͿ Ăƚ Dƚ ŽŶƐƉŝĐƵŽƵƐ͘ dŚĞ ƐƚƌŽŶŐĞƐƚ D ƚĂƌŐĞƚƐ ĂĐƌŽƐƐ ƚŚĞ ďƌŽĂĚĞƌ <ŽŽůŝŶĞ WƌŽũĞĐƚ͕ ŝŶĐůƵĚŝŶŐ Ăƚ Dƚ ŽŶƐƉŝĐƵŽƵƐ͕WŚĂƌ>ĂƉ ĂŶĚ EŽƌƚŚĞƌůLJƉƌŽƐƉĞĐƚƐ͕ ĂƌĞĐŽŶĐĞĂůĞĚ ƵŶĚĞƌƐŚĂůůŽǁĐŽǀĞƌĂŶĚĂƌĞLJĞƚ ƚŽ ďĞ ĚƌŝůůĞĚ͘

dŚĞ Dƚ ŽŶƐƉŝĐƵŽƵƐ D ƚĂƌŐĞƚ ŝƐ ŽǀĞƌϲϬϬŵŝŶƐƚƌŝŬĞ ůĞŶŐƚŚ ĂŶĚ ůŝĞƐ ǁŝƚŚŝŶ Ă ƐƚƌƵĐƚƵƌĂů ĐŽƌƌŝĚŽƌƚŚĂƚ ĐŽŶƚĂŝŶƐ ƚŚĞ ŚŝƐƚŽƌŝĐ Dƚ ŽŶƐƉŝĐƵŽƵƐ DŝŶĞ͘ dŚĞ ĐŽŶĚƵĐƚŽƌ ŝƐ ŝŶƚĞƌƉƌĞƚĞĚ ƚŽ ĐŽŵŵĞŶĐĞ ĐůŽƐĞ ƚŽ ƐƵƌĨĂĐĞ͕ ŝƚ ƉĞƌƐŝƐƚƐ ƚŽ ϰϬϬŵ ŝŶĚĞƉƚŚ͕ǁŚŝĐŚ ƐƵŐŐĞƐƚƐ ƚŚĞ ŝŶƚĞƌƉƌĞƚĞĚ ƐƵůƉŚŝĚĞ ŵŝŶĞƌĂůŝƐĂƚŝŽŶ ŝƐ ŽĨ ƐŝŐŶŝĨŝĐĂŶƚ ƐĐĂůĞ͘

tŚŝůĞ ƚŚĞ Dƚ ŽŶƐƉŝĐƵŽƵƐ D ĂŶŽŵĂůLJŝƐ ĐŽŶĐĞĂůĞĚ ďĞŶĞĂƚŚ ĂůůƵǀŝƵŵ ĂŶĚ ĐŽůůƵǀŝƵŵ ĂŶĚ ĐŽƵůĚŶŽƚ ďĞ ĚŝƌĞĐƚůLJ ƐĂŵƉůĞĚ͕ƚŚĞ ďƌŽĂĚĞƌD ĐŽƌƌŝĚŽƌƚŚĂƚ ĐŽŶƚĂŝŶƐ ƚŚĞ Dƚ ŽŶƐƉŝĐƵŽƵƐ ƚĂƌŐĞƚ ŝƐ ĂƐƐŽĐŝĂƚĞĚ ǁŝƚŚ ƉƌŽƐƉĞĐƚŝǀĞ ƐƚƌƵĐƚƵƌĞƐ͕ƋƵĂƌƚnj ǀĞŝŶŝŶŐ ĂŶĚŚŝŐŚͲŐƌĂĚĞ WďͲŐ ŵŝŶĞƌĂůŝƐĂƚŝŽŶ͘

&ŝŐƵƌĞϲ DƐůŝĐĞŽǀĞƌ ƚŚĞ<ŽŽůŝŶĞƐŝůǀĞƌͲůĞĂĚ ĨŝĞůĚ ƐŚŽǁŝŶŐ ŚŝƐƚŽƌŝĐ ŵŝŶĞƐĂŶĚ ŵŝŶĞƌĂůŝƐĞĚ ƚƌĞŶĚƐ͘

ďŽƵƚ <ŽŽůŝŶĞĂƐĞ DĞƚĂůƐWƌŽũĞĐƚ

dŚĞ <ŽŽůŝŶĞ ĂƐĞ DĞƚĂůƐ WƌŽũĞĐƚ ĐŽǀĞƌƐ ϮϰϬŬŵϮ ĂŶĚ ϱϬŬŵ ŽĨƐƚƌŝŬĞ ŽĨ ƉƌŽƐƉĞĐƚŝǀĞ ƐŚďƵƌƚŽŶ &ŽƌŵĂƚŝŽŶŝŶ tĞƐƚĞƌŶƵƐƚƌĂůŝĂ͘ dŚĞ ƚĞŶĞŵĞŶƚƐ ŝŶĐůƵĚĞ ŽǀĞƌƚŚŝƌƚLJŚŝƐƚŽƌŝĐĂůůLJ ŵŝŶĞĚ ŚŝŐŚͲŐƌĂĚĞ ŽĐĐƵƌƌĞŶĐĞƐ ŽĨůĞĂĚ;WďͿ͕ƐŝůǀĞƌ;ŐͿ ĂŶĚ ĐŽƉƉĞƌ ;ƵͿ͘

¾ ,ŝŐŚŐƌĂĚĞƐ ŝŶ ƌŽĐŬ ĐŚŝƉƐ ƵƉ ƚŽ ϱϱ͘ϯй Wď͕ ϮϰϵŐͬƚ Ő͕ Ϯ͘ϲϮй Ƶ ĂŶĚϯϴ Őͬƚ Ƶ
¾ KŶůLJůŝŵŝƚĞĚ ĚƌŝůůŝŶŐ ŽĨƚŚĞ ǀĞŝŶƐ ĞŐ͘ ϯŵ Λ ϲ͘ϰϴ Őͬƚ Ƶ͕ ϱŵ Λ Ϯ͘Ϭϴй Wď

WƌŽŵŝŶĞŶƚ ĐƌƵƐƚĂůͲƐĐĂůĞƐƚƌƵĐƚƵƌĞƐ ŝŶƚŚĞ ƌĞŐŝŽŶ ĂŶĚ ǁŝƚŚŝŶƚŚĞ WƌŽũĞĐƚ ƚĞŶƵƌĞŵĂLJŚĂǀĞ ĨĂĐŝůŝƚĂƚĞĚ ĨůƵŝĚĨůŽǁ ĂŶĚ ŽƌĞĨŽƌŵĂƚŝŽŶ͘ ůĂƌŐĞŐƌĂŶŝƚŝĐ ŝŶƚƌƵƐŝǀĞ ďŽĚLJ ŝƐ ŝŶƚĞƌƉƌĞƚĞĚ ǁŝƚŚŝŶ ƚŚĞ D ŝŵĂŐĞƌLJ ĂŶĚ ŝƐ ŝŶĨĞƌƌĞĚƚŽ ďĞ ƚŚĞ ƐŽƵƌĐĞ ŽĨ ƚŚĞ ŚLJĚƌŽƚŚĞƌŵĂůǀĞŝŶ ƐƚLJůĞ ŽĨŵŝŶĞƌĂůŝƐĂƚŝŽŶ͕ǁŚŝĐŚ ƐŚŽǁƐ Ă ĐůĂƐƐŝĐ njŽŶĞĚƉĂƚƚĞƌŶ ŽĨƵͲƵǀĞŝŶƐ ĐůŽƐĞƚŚĞ ŝŶƚƌƵƐŝǀĞĂŶĚ WďͲŐ ǀĞŝŶƐ ƌĂĚŝĂƚŝŶŐ ĨƵƌƚŚĞƌĂǁĂLJ͘

&ŽůůŽǁͲƵƉ ƐLJƐƚĞŵĂƚŝĐ ŐĞŽĐŚĞŵŝĐĂůƐĂŵƉůŝŶŐ͕ ŐƌŽƵŶĚͲďĂƐĞĚ D ƐƵƌǀĞLJŝŶŐĂŶĚ ĚƌŝůůŝŶŐ ŝƐ ƉůĂŶŶĞĚ ƚŽ ƚĞƐƚ ƚŚĞDƚ ŽŶƐƉŝĐƵŽƵƐ D ĐŽŶĚƵĐƚŽƌ͕ ĂŶĚ ŽƚŚĞƌ ƚĂƌŐĞƚƐ ŝŶƚŚĞ <ŽŽůŝŶĞWƌŽũĞĐƚ ĨŽƌĐŽŶĐĞĂůĞĚ ŚŝŐŚͲŐƌĂĚĞWďͲŐͲƵͲƵ ŵŝŶĞƌĂůŝƐĂƚŝŽŶ͘

KZWKZdd/s/d/^

/ƐƐƵĞŽĨ^ŚĂƌĞƐ

ƚ ƚŚĞďĞŐŝŶŶŝŶŐ ŽĨ ƚŚĞ ƋƵĂƌƚĞƌ͕ ϭϬϲ͕ϭϴϮ͕ϱϮϭ ŝƐƐƵĞƐ ǁĞƌĞŝƐƐƵĞĚ ƉƵƌƐƵĂŶƚ ƚŽ ĞdžĞƌĐŝƐĞƐ ŽĨŽƉƚŝŽŶƐ Ăƚ ΨϬ͘ϬϬϲĞĂĐŚ ʹ ĞdžĐĞƉƚ ĨŽƌĂ ďĂůĂŶĐĞ ŽĨΨϳ͕ϬϬϬ͕ƚŚĞ ƌĞĐĞŝƉƚ ŽĨƚŚĞŽƉƚŝŽŶ ĞdžĞƌĐŝƐĞ ƉƌŽĐĞĞĚƐ ǁĞƌĞ ƌĞƉŽƌƚĞĚŝŶ ůĂƐƚ ƋƵĂƌƚĞƌ͛Ɛ ƌĞƉŽƌƚ͘

ĂƐŚ ZĞƐĞƌǀĞƐ

dŚĞ ŽŵƉĂŶLJ͛Ɛ ĞŶĚ ŽĨƋƵĂƌƚĞƌĐĂƐŚ ƉŽƐŝƚŝŽŶǁĂƐ Ψϰ͘ϬϱD͘

^yĚĚŝƚŝŽŶĂů/ŶĨŽƌŵĂƚŝŽŶ ʹ 'ƵŝĚĂŶĐĞ EŽƚĞϮϯ ŝƐĐůŽƐƵƌĞƐ

^ƵƌĞĨŝƌĞƉƌŽǀŝĚĞƐ ƚŚĞĨŽůůŽǁŝŶŐŝŶĨŽƌŵĂƚŝŽŶƉƵƌƐƵĂŶƚ ƚŽ ^y >ŝƐƚŝŶŐ ZƵůĞƌĞƋƵŝƌĞŵĞŶƚƐ͗

ϭ͘ ^y>ŝƐƚŝŶŐ ZƵůĞϱ͘ϯ͘ϭͲ džƉůŽƌĂƚŝŽŶ ĂŶĚ ǀĂůƵĂƚŝŽŶ džƉĞŶĚŝƚƵƌĞ ĚƵƌŝŶŐ ƚŚĞ ƋƵĂƌƚĞƌǁĂƐ ΨϲϯϯŬ͘ &Ƶůů ĚĞƚĂŝůƐ ŽĨĞdžƉůŽƌĂƚŝŽŶĂĐƚŝǀŝƚŝĞƐ ĚƵƌŝŶŐ ƚŚĞ ƋƵĂƌƚĞƌĂƌĞƐĞƚ ŽƵƚ ŝŶƚŚŝƐ ƌĞƉŽƌƚ͖
Ϯ͘ ^y>ŝƐƚŝŶŐ ZƵůĞ ϱ͘ϯ͘Ϯ Ͳ dŚĞƌĞǁĂƐ ŶŽ ƐƵďƐƚĂŶƚŝǀĞ ŵŝŶŝŶŐ ƉƌŽĚƵĐƚŝŽŶ ĂŶĚĚĞǀĞůŽƉŵĞŶƚ ĂĐƚŝǀŝƚŝĞƐ ĚƵƌŝŶŐ ƚŚĞ ƋƵĂƌƚĞƌ͖
ϯ͘ ^y>ŝƐƚŝŶŐ ZƵůĞϱ͘ϯ͘ϯʹ ĞƚĂŝůƐ ŽĨŵŝŶŝŶŐ ƚĞŶĞŵĞŶƚƐ ĂĐƋƵŝƌĞĚŽƌ ĚŝƐƉŽƐĞĚ ŽĨĚƵƌŝŶŐƚŚĞ ƋƵĂƌƚĞƌ͕ ĂŶĚ ŚĞůĚĂƚ ƚŚĞĞŶĚŽĨƚŚĞ ƋƵĂƌƚĞƌĂƌĞƐĞƚ ŽƵƚ ŝŶƚŚŝƐ ƌĞƉŽƌƚ͖ĂŶĚ
ϰ͘ ^y>ŝƐƚŝŶŐ ZƵůĞϱ͘ϯ͘ϱͲ WĂLJŵĞŶƚƐ ƚŽ ƌĞůĂƚĞĚƉĂƌƚŝĞƐ ŽĨƚŚĞ ŽŵƉĂŶLJĂŶĚƚŚĞŝƌĂƐƐŽĐŝĂƚĞƐ ĚƵƌŝŶŐ ƚŚĞ ƋƵĂƌƚĞƌ͗ΨϭϬϮ<͘ dŚĞ ŽŵƉĂŶLJĂĚǀŝƐĞƐ ƚŚĂƚ ƚŚŝƐ ƌĞůĂƚĞƐ ƚŽ ƌĞŵƵŶĞƌĂƚŝŽŶŽĨ ŝƌĞĐƚŽƌƐ ĨŽƌŵĂŶĂŐŝŶŐ ĚŝƌĞĐƚŽƌĐŽŶƐƵůƚĂŶĐLJĂŶĚ ĚŝƌĞĐƚŽƌŝĂůƐĞƌǀŝĐĞƐ͕ĂůůƉĂŝĚƚŽ ĚŝƌĞĐƚŽƌ ƌĞůĂƚĞĚ ĞŶƚŝƚŝĞƐ͘

^y EEKhEDEd^hZ/E'd,YhZdZ

ĂƚĞ	dŝƚůĞ
Ϯϴ ^ĞƉƚĞŵďĞƌ ϮϬϮϮ	zŝĚďLJ ^ƵĐĐĞƐƐĨƵů ƌŝůů dĞƐƚŝŶŐ DD/ ŶŽŵĂůŝĞƐ Ϯ EĞǁ WƌŽƐƉĞĐƚƐΎ
ϭϰ ^ĞƉƚĞŵďĞƌ ϮϬϮϮ	,ŝŐŚ 'ƌĂĚĞ >ĞĂĚ ĂŶĚ ^ŝůǀĞƌ ŝŶ ZŽĐŬŚŝƉƐ Ăƚ<ŽŽůŝŶĞ WƌŽũĞĐƚΎ
ϭ ^ĞƉƚĞŵďĞƌ ϮϬϮϮ	ƉƉŽŝŶƚŵĞŶƚ ŽĨKΎ
ϭϴ ƵŐƵƐƚ ϮϬϮϮ	sŝĐƚŽƌLJ ŽƌĞ sĂŶĂĚŝƵŵ WƌŽũĞĐƚƌŝůůŝŶŐ ƚŽĚǀĂŶĐĞ W&^Ύ
ϵ ƵŐƵƐƚ ϮϬϮϮ	ŚĂŶŐĞ ŝŶ ^ƵďƐƚĂŶƚŝĂů ,ŽůĚŝŶŐ
ϰ ƵŐƵƐƚ ϮϬϮϮ	ƌŝůůŝŶŐ ĂƚzŝĚďLJΎ
ϭ ƵŐƵƐƚ ϮϬϮϮ	YƵĂƌƚĞƌůLJ ĐƚŝǀŝƚŝĞƐͬƉƉĞŶĚŝdž ϱĂƐŚ &ůŽǁ ZĞƉŽƌƚΎ
ϭϭ :ƵůLJ ϮϬϮϮ	ŚĂŶŐĞ ŽĨ ŝƌĞĐƚŽƌ͛Ɛ/ŶƚĞƌĞƐƚEŽƚŝĐĞƐ džϯ
ϳ :ƵůLJ ϮϬϮϮ	hƉĚĂƚĞ ŽŶ džƉŝƌLJ ŽĨ>ŝƐƚĞĚ KƉƚŝŽŶƐ
ϱ :ƵůLJ ϮϬϮϮ	ƉƉĞŶĚŝdž Ϯ
ϰ :ƵůLJ ϮϬϮϮ	džƉŝƌLJ ŽĨ^ZEK>ŝƐƚĞĚKƉƚŝŽŶƐ

;Ύ DĂƌŬĞƚ ƐĞŶƐŝƚŝǀĞĂŶŶŽƵŶĐĞŵĞŶƚͿ

Yh>/&z/E' ^ddDEd^

ŽŵƉĞƚĞŶƚWĞƌƐŽŶ^ƚĂƚĞŵĞŶƚ͗

dŚĞ ŝŶĨŽƌŵĂƚŝŽŶŝŶƚŚŝƐƌĞƉŽƌƚ ƚŚĂƚƌĞůĂƚĞƐ ƚŽ DŝŶĞƌĂůZĞƐŽƵƌĐĞŝƐďĂƐĞĚŽŶ ŝŶĨŽƌŵĂƚŝŽŶĐŽŵƉŝůĞĚ ďLJ DƌDĂƌĐƵƐ &ůŝƐǁŚŽ ŝƐĂ&ĞůůŽǁ ŽĨƚŚĞƵƐƚƌĂůŝĂŶ /ŶƐƚŝƚƵƚĞŽĨ'ĞŽƐĐŝĞŶƚŝƐƚƐ͘Dƌ &ůŝƐŝƐĂŶŝŶĚĞƉĞŶĚĞŶƚWƌŝŶĐŝƉĂů ŽŶƐƵůƚĂŶƚĂƚ ZŽƵŶƚƌĞĞ WƚLJ >ƚĚ͘Dƌ &ůŝƐŚĂƐ ƐƵĨĨŝĐŝĞŶƚĞdžƉĞƌŝĞŶĐĞ ƚŚĂƚ ŝƐ ƌĞůĞǀĂŶƚ ƚŽ ƚŚĞƐƚLJůĞŽĨ ŵŝŶĞƌĂůŝƐĂƚŝŽŶ͕ ƚLJƉĞ ŽĨĚĞƉŽƐŝƚ ƵŶĚĞƌ ĐŽŶƐŝĚĞƌĂƚŝŽŶĂŶĚ ƚŽ ƚŚĞĂĐƚŝǀŝƚLJ ƚŚĂƚƚŚĞLJ ĂƌĞƵŶĚĞƌƚĂŬŝŶŐ ƚŽ ƋƵĂůŝĨLJ ĂƐĂ ŽŵƉĞƚĞŶƚWĞƌƐŽŶĂƐĚĞĨŝŶĞĚŝŶ ƚŚĞ ϮϬϭϮ ĞĚŝƚŝŽŶ ŽĨƚŚĞ ͚ƵƐƚƌĂůĂƐŝĂŶ ŽĚĞ ĨŽƌ ZĞƉŽƌƚŝŶŐ ŽĨ džƉůŽƌĂƚŝŽŶ ZĞƐƵůƚƐ͕ DŝŶĞƌĂů ZĞƐŽƵƌĐĞƐ ĂŶĚ KƌĞ ZĞƐĞƌǀĞƐ͛ ĂŶĚ ĐŽŶƐĞŶƚƐƚŽ ƚŚĞŝŶĐůƵƐŝŽŶŝŶƚŚŝƐƌĞƉŽƌƚ ŽĨ ƚŚĞŵĂƚƚĞƌƐ ďĂƐĞĚŽŶ ƚŚĞŝƌ ŝŶĨŽƌŵĂƚŝŽŶ ŝŶ ƚŚĞĨŽƌŵĂŶĚ ĐŽŶƚĞdžƚŝŶ ǁŚŝĐŚƚŚĞLJ ĂƉƉĞĂƌ͘

ĂƵƚŝŽŶĂƌLJ ^ƚĂƚĞŵĞŶƚ͗

dŚĞ džƉůŽƌĂƚŝŽŶ dĂƌŐĞƚ ƌĞĨĞƌƌĞĚ ƚŽ ŝŶ ƚŚŝƐ ĂŶŶŽƵŶĐĞŵĞŶƚ͕ ďĞŝŶŐ ĐŽŶĐĞƉƚƵĂů ŝŶ ŶĂƚƵƌĞ͕ ƚĂŬĞƐ ŶŽ ĂĐĐŽƵŶƚ ŽĨ ŐĞŽůŽŐŝĐĂů ĐŽŵƉůĞdžŝƚLJ͕ ƉŽƐƐŝďůĞŵŝŶŝŶŐ ŵĞƚŚŽĚ Žƌ ŵĞƚĂůůƵƌŐŝĐĂů ƌĞĐŽǀĞƌLJ ĨĂĐƚŽƌƐ͘ dŚĞ džƉůŽƌĂƚŝŽŶ dĂƌŐĞƚ ǁĂƐ ĞƐƚŝŵĂƚĞĚ ŝŶŽƌĚĞƌ ƚŽ ƉƌŽǀŝĚĞ ĂŶ ĂƐƐĞƐƐŵĞŶƚŽĨƚŚĞƉŽƚĞŶƚŝĂůƐĐĂůĞŽĨƚŚĞ ĞdžƉůŽƌĂƚŝŽŶ ŽŶ ƚŚĞWĞƌĞŶũŽƌŝ /ƌŽŶ WƌŽũĞĐƚ ĂŶĚ ƚŽ ŝŶĨŽƌŵ ƚŚĞ ŽŵƉĂŶLJ ƉƌŝŽƌ ƚŽ Ă ĚĞĐŝƐŝŽŶƚŽ ƉƌŽĐĞĞĚǁŝƚŚ ĂĚĚŝƚŝŽŶĂů ƌĞƐŽƵƌĐĞ ĚĞĨŝŶŝƚŝŽŶ ǁŽƌŬ ĂŶĚ ŵŽƌĞ ĂĚǀĂŶĐĞĚ ĂŶĚĚĞĨŝŶŝƚŝǀĞƐƚƵĚŝĞƐ͘

dŚĞƌĞ ŝƐĂ ůŽǁ ůĞǀĞůŽĨŐĞŽůŽŐŝĐĂůĐŽŶĨŝĚĞŶĐĞ ĂƐƐŽĐŝĂƚĞĚǁŝƚŚ/ŶĨĞƌƌĞĚ DŝŶĞƌĂů ZĞƐŽƵƌĐĞƐ ĂŶĚ ƚŚĞƌĞ ŝƐŶŽ ĐĞƌƚĂŝŶƚLJ ƚŚĂƚĨƵƌƚŚĞƌ ĞdžƉůŽƌĂƚŝŽŶ ǁŽƌŬ ǁŝůů ƌĞƐƵůƚŝŶƚŚĞ ĚĞƚĞƌŵŝŶĂƚŝŽŶŽĨ/ŶĚŝĐĂƚĞĚ DŝŶĞƌĂů ZĞƐŽƵƌĐĞƐŽƌ ZĞƐĞƌǀĞƐ͘

EŽEĞǁ /ŶĨŽƌŵĂƚŝŽŶ Žƌ ĂƚĂ͗

^ZEĐŽŶĨŝƌŵƐƚŚĂƚŝƚ ŝƐŶŽƚ ĂǁĂƌĞŽĨĂŶLJ ŶĞǁ ŝŶĨŽƌŵĂƚŝŽŶŽƌ ĚĂƚĂ ƚŚĂƚŵĂƚĞƌŝĂůůLJ ĂĨĨĞĐƚƐƚŚĞŝŶĨŽƌŵĂƚŝŽŶŝŶĐůƵĚĞĚ ƉƌĞǀŝŽƵƐŵĂƌŬĞƚĂŶŶŽƵŶĐĞŵĞŶƚƐĂŶĚ͕ ŝŶƚŚĞ ĐĂƐĞ ŽĨDŝŶĞƌĂů ZĞƐŽƵƌĐĞƐ͕ ǁŚŝĐŚĂůů ŵĂƚĞƌŝĂůĂƐƐƵŵƉƚŝŽŶƐĂŶĚ ƚĞĐŚŶŝĐĂů ƉĂƌĂŵĞƚĞƌƐ ƵŶĚĞƌƉŝŶŶŝŶŐ ƚŚĞ ĞƐƚŝŵĂƚĞƐŝŶƚŚĞƌĞůĞǀĂŶƚĂŶŶŽƵŶĐĞŵĞŶƚƐ ĐŽŶƚŝŶƵĞ ƚŽ ĂƉƉůLJ ĂŶĚŚĂǀĞ ŶŽƚ ŵĂƚĞƌŝĂůůLJ ĐŚĂŶŐĞĚ͘ dŚĞŽŵƉĂŶLJ ĐŽŶĨŝƌŵƐƚŚĂƚƚŚĞĨŽƌŵ ĂŶĚĐŽŶƚĞdžƚŝŶ ǁŚŝĐŚƚŚĞŽŵƉĞƚĞŶƚ WĞƌƐŽŶ͛ƐĨŝŶĚŝŶŐƐ ĂƌĞƉƌĞƐĞŶƚĞĚ ŚĂǀĞŶŽƚŵĂƚĞƌŝĂůůLJ ĐŚĂŶŐĞĚ ĨƌŽŵ ƚŚĞŽƌŝŐŝŶĂůŵĂƌŬĞƚĂŶŶŽƵŶĐĞŵĞŶƚ͘

&ŽƌǁĂƌĚ>ŽŽŬŝŶŐ ^ƚĂƚĞŵĞŶƚƐ͗

dŚŝƐ ĂŶŶŽƵŶĐĞŵĞŶƚ ĐŽŶƚĂŝŶƐ ͚ĨŽƌǁĂƌĚͲůŽŽŬŝŶŐ ŝŶĨŽƌŵĂƚŝŽŶ͛ ƚŚĂƚ ŝƐ ďĂƐĞĚ ŽŶ ƚŚĞ ŽŵƉĂŶLJ͛Ɛ ĞdžƉĞĐƚĂƚŝŽŶƐ͕ ĞƐƚŝŵĂƚĞƐĂŶĚƉƌŽũĞĐƚŝŽŶƐĂƐŽĨƚŚĞ ĚĂƚĞŽŶǁŚŝĐŚƚŚĞƐƚĂƚĞŵĞŶƚƐǁĞƌĞŵĂĚĞ͘ dŚŝƐĨŽƌǁĂƌĚͲůŽŽŬŝŶŐŝŶĨŽƌŵĂƚŝŽŶ ŝŶĐůƵĚĞƐ͕ ĂŵŽŶŐŽƚŚĞƌ ƚŚŝŶŐƐ͕ ƐƚĂƚĞŵĞŶƚƐ ǁŝƚŚƌĞƐƉĞĐƚ ƚŽ ƚŚĞŽŵƉĂŶLJ͛ƐďƵƐŝŶĞƐƐ ƐƚƌĂƚĞŐLJ͕ƉůĂŶƐ͕ĚĞǀĞůŽƉŵĞŶƚ͕ ŽďũĞĐƚŝǀĞƐ͕ƉĞƌĨŽƌŵĂŶĐĞ͕ŽƵƚůŽŽŬ͕ ŐƌŽǁƚŚ͕ ĐĂƐŚĨůŽǁ͕ƉƌŽũĞĐƚŝŽŶƐ͕ ƚĂƌŐĞƚƐ ĂŶĚĞdžƉĞĐƚĂƚŝŽŶƐ͕ ŵŝŶĞƌĂů ƌĞƐĞƌǀĞƐĂŶĚ ƌĞƐŽƵƌĐĞƐ͕ ƌĞƐƵůƚƐ ŽĨ ĞdžƉůŽƌĂƚŝŽŶ ĂŶĚ ƌĞůĂƚĞĚ ĞdžƉĞŶƐĞƐ͘ 'ĞŶĞƌĂůůLJ͕ ƚŚŝƐ ĨŽƌǁĂƌĚͲůŽŽŬŝŶŐ ŝŶĨŽƌŵĂƚŝŽŶ ĐĂŶ ďĞ ŝĚĞŶƚŝĨŝĞĚ ďLJ ƚŚĞƵƐĞ ŽĨĨŽƌǁĂƌĚͲůŽŽŬŝŶŐƚĞƌŵŝŶŽůŽŐLJ ƐƵĐŚĂƐ ͚ŽƵƚůŽŽŬ͕͛ ͚ĂŶƚŝĐŝƉĂƚĞ͕͚͛ƉƌŽũĞĐƚ͕͚͛ƚĂƌŐĞƚ͕͛ ͚ƉŽƚĞŶƚŝĂů͕͛ ͚ůŝŬĞůLJ͕͚͛ďĞůŝĞǀĞ͕͛ ͚ĞƐƚŝŵĂƚĞ͕͚͛ĞdžƉĞĐƚ͕͛ ͚ŝŶƚĞŶĚ͕͚͛ŵĂLJ͕͚͛ǁŽƵůĚ͕͚͛ĐŽƵůĚ͕͛ ͚ƐŚŽƵůĚ͕͚͛ƐĐŚĞĚƵůĞĚ͕͛ ͚ǁŝůů͕͛ ͚ƉůĂŶ͕͚͛ĨŽƌĞĐĂƐƚ͕͛ ͚ĞǀŽůǀĞ͛ ĂŶĚƐŝŵŝůĂƌ ĞdžƉƌĞƐƐŝŽŶƐ͘ WĞƌƐŽŶƐƌĞĂĚŝŶŐ ƚŚŝƐ ĂŶŶŽƵŶĐĞŵĞŶƚĂƌĞĐĂƵƚŝŽŶĞĚ ƚŚĂƚƐƵĐŚƐƚĂƚĞŵĞŶƚƐ ĂƌĞ ŽŶůLJ ƉƌĞĚŝĐƚŝŽŶƐ͕ ĂŶĚ ƚŚĂƚ ƚŚĞ ŽŵƉĂŶLJ͛Ɛ ĂĐƚƵĂů ĨƵƚƵƌĞ ƌĞƐƵůƚƐ Žƌ ƉĞƌĨŽƌŵĂŶĐĞ ŵĂLJ ďĞ ŵĂƚĞƌŝĂůůLJ ĚŝĨĨĞƌĞŶƚ͘ &ŽƌǁĂƌĚͲůŽŽŬŝŶŐ ŝŶĨŽƌŵĂƚŝŽŶ ŝƐƐƵďũĞĐƚ ƚŽ ŬŶŽǁŶ ĂŶĚƵŶŬŶŽǁŶ ƌŝƐŬƐ͕ ƵŶĐĞƌƚĂŝŶƚŝĞƐ ĂŶĚ ŽƚŚĞƌ ĨĂĐƚŽƌƐ ƚŚĂƚ ŵĂLJ ĐĂƵƐĞƚŚĞ ŽŵƉĂŶLJ͛Ɛ ĂĐƚƵĂů ƌĞƐƵůƚƐ͕ ůĞǀĞůŽĨĂĐƚŝǀŝƚLJ͕ ƉĞƌĨŽƌŵĂŶĐĞŽƌ ĂĐŚŝĞǀĞŵĞŶƚƐƚŽ ďĞŵĂƚĞƌŝĂůůLJ ĚŝĨĨĞƌĞŶƚĨƌŽŵ ƚŚŽƐĞĞdžƉƌĞƐƐĞĚŽƌ ŝŵƉůŝĞĚ ďLJ ƐƵĐŚĨŽƌǁĂƌĚͲůŽŽŬŝŶŐŝŶĨŽƌŵĂƚŝŽŶ͘

Project Area	Lease	Name	Locality	Lease Status

Yidby Gold Project	E59/2426	Nynghan	WA	Granted
Yidby Gold Project	E59/2390	Yalgoo	WA	Granted
Yidby Gold Project	E59/2444	Yidby Hill	WA	Granted

Perenjori	E70/5575	Kadji	WA	Granted
Perenjori	E59/2446	Perenjori 2	WA	Granted
Perenjori	E70/5573	Pinjarrah Hill	WA	Granted
Perenjori	E70/5311	Southwest	WA	Granted
Perenjori	E70/5572	Fitzroy	WA	Granted

Unaly Hill	E57/1068	Unaly Hill	WA	Granted

Victory Bore	E57/1139	Victory Bore	WA	Granted
Victory Bore	E57/1036	Atley	WA	Granted

Kooline	E08/2373	Kooline-Wyloo	WA	Granted
Kooline	E08/2956	Kooline	WA	Granted

APPENDIX 1 TENEMENT HOLDINGS AT 30 SEPTEMBER 2022

Tenements acquired in the quarter: Nil

Tenements surrendered in the quarter: E59/2445, E57/1112

Project	Name	Locality	Lease Status

Perenjori	E59/2445 Perenjori 1	WA	Surrendered
Unaly Hill	E57/1112 Unaly Hill 2	WA	Surrendered

Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

48 083 274 024	30 September 2022
ARN .	Quarter ended ("Current Quarter")
SUREFIRE RESOURCES NL
Name of entity

	Consolidated statement of cash flows	Current quarter$A'000	Year to date$(3$ months)$A'000
1.	Cash flows from operating activities
1.1	Receipts from customers
1.2	Payments for
	exploration & evaluation(a)	(633)	(633)
	development(b)
	production(c)
	staff costs(d)	(262)	(262)
	administration and corporate costs(e)	(42)	(42)
1.3	Dividends received (see note 3)
1.4	Interest received		4
1.5	Interest and other costs of finance paid
1.6	Income taxes paid
1.7	Government grants and tax incentives
1.8	Other (provide details if material)
1.9	Net cash from / (used in) operatingactivities	(933)	(933)

2.		Cash flows from investing activities
2.1		Payments to acquire or for:
	(a)	entities
	(b)	tenements	(87)	(87
	(c)	property, plant and equipment
	(d)	exploration & evaluation
	(e)	investments
		other non-current assets	-

	Consolidated statement of cash flows	Current quarter$A'000	Year to date$(3$ months)$A'000
2.2	Proceeds from the disposal of:
	entities(a)
	(b)tenements
	property, plant and equipment(c)
	(d)investments
	other non-current assets(e)
2.3	Cash flows from loans to other entities
2.4	Dividends received (see note 3)
2.5	Other (provide details if material)
2.6	Net cash from / (used in) investingactivities	(94)	(94)

3.	Cash flows from financing activities
3.1	Proceeds from issues of equity securities(excluding convertible debt securities)
3.2	Proceeds from issue of convertible debtsecurities
3.3	Proceeds from exercise of options andconversion of partly paid shares into fullypaid shared
3.4	Transaction costs related to issues of equitysecurities or convertible debt securities
3.5	Proceeds from borrowings
3.6	Repayment of borrowings
3.7	Transaction costs related to loans andborrowings
3.8	Dividends paid
3.9	Other (provide details if material)
3.10	Net cash from / (used in) financingactivities

	Net increase / (decrease) in cash andcash equivalents for the period
4.1	Cash and cash equivalents at beginning ofperiod	5.070	5.070
4.2	Net cash from / (used in) operatingactivities (item 1.9 above)	(933)
4.3	Net cash from / (used in) investing activitiesitem 2.6 above)	(94)
4.4	Net cash from / (used in) financing activities(item 3.10 above)

ASX Listing Rules Appendix 5B (17/07/20)+ See chapter 19 of the ASX Listing Rules for defined terms.

Appendix 5BMining exploration entity or oil and gas exploration entity quarterly cash flow report

	Consolidated statement of cash flows	Current quarter$A'000	Year to date$(3$ months)$A'000
4.5	Effect of movement in exchange rates oncash held
4.6	Cash and cash equivalents at end ofperiod	4.050	4.050

5.	Reconciliation of cash and cashequivalentsat the end of the quarter (as shown in theconsolidated statement of cash flows) to therelated items in the accounts	Current quarter$A'000	Previous quarter$A'000
5.1	Bank balances	54	92
5.2	Call deposits	3.978	4.960
5.3	Bank overdrafts
5.4	Other (provide details) Office rental bond	18	18
5.5	Cash and cash equivalents at end ofquarter (should equal item 4.6 above)	4,050	5.070

6.	Payments to related parties of the entity and theirassociates	Current quarter$A'000
6.1	Aggregate amount of payments to related parties and theirassociates included in item 1	102
6.2	Aggregate amount of payments to related parties and theirassociates included in item 2
	Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and anexplanation for, such payments.

explanation for, such payments.

7.	Financing facilitiesNote: the term "facility' includes all forms of financingarrangements available to the entity.Add notes as necessary for an understanding of thesources of finance available to the entity.	Total facilityamount at quarterend$A'000	Amount drawn atquarter end$A'000
7.1	Loan facilities
7.2	Credit standby arrangements
7.3	Other (please specify)
7.4	Total financing facilities
7.5	Unused financing facilities available at quarter end
7.6	Include in the box below a description of each facility above, including the lender, interestrate, maturity date and whether it is secured or unsecured. If any additional financingfacilities have been entered into or are proposed to be entered into after quarter end,include a note providing details of those facilities as well.

Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report

8.	Estimated cash available for future operating activities	$A'000
8.1	Net cash from / (used in) operating activities (item 1.9)	(933)
8.2	(Payments for exploration & evaluation classified as investingactivities) (item 2.1(d))
8.3	Total relevant outgoings (item $8.1 +$ item $8.2$ )	(933)
8.4	Cash and cash equivalents at quarter end (item 4.6)	4,050
8.5	Unused finance facilities available at quarter end (item 7.5)
8.6	Total available funding (item $8.4 +$ item $8.5$ )	4,050
8.7	Estimated quarters of funding available (item 8.6 divided byitem 8.3)	4.34
	Note: if the entity has reported positive relevant outgoings (ie a net cash inflow) in item 8.3, answer item 8.7 as "N/A".Otherwise, a figure for the estimated quarters of funding available must be included in item 8.7.
8.8	If item 8.7 is less than 2 quarters, please provide answers to the following questions:
	8.8.1Does the entity expect that it will continue to have the current level of net operatingcash flows for the time being and, if not, why not?
	Answer: N/A
	8.8.2Has the entity taken any steps, or does it propose to take any steps, to raise furthercash to fund its operations and, if so, what are those steps and how likely does itbelieve that they will be successful?
	Answer: N/A
	8.8.3Does the entity expect to be able to continue its operations and to meet its businessobjectives and, if so, on what basis?
	Answer: N/A
	Note: where item 8.7 is less than 2 quarters, all of questions 8.8.1, 8.8.2 and 8.8.3 above must be answered.

Compliance statement

$\overline{1}$ This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.
$\overline{2}$ This statement gives a true and fair view of the matters disclosed.

31 October 2022 Date:

Authorised by: Rudolf Tieleman - Company Secretary (Name of body or officer authorising release - see note 4)

Notes

This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the $\mathbf{1}$ . entity's activities for the past quarter, how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so.
$\mathfrak{D}$ If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report.
Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, 3. depending on the accounting policy of the entity.
$\overline{4}$ . If this report has been authorised for release to the market by your board of directors, you can insert here: "By the board". If it has been authorised for release to the market by a committee of your board of directors, you can insert here: "By the [name of board committee - eg Audit and Risk Committee]". If it has been authorised for release to the market by a disclosure committee, you can insert here: "By the Disclosure Committee".
$5.$ If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council's Corporate Governance Principles and Recommendations, the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively.