SUREFIRE RESOURCES NL — Capital/Financing Update 2019

Sep 18, 2019

==> picture [204 x 75] intentionally omitted <==

19 September 2019

ASX Announcement ASX Codes: SRN and SRNOB

_________________________________________________________________________________

Victory Bore Drill Targets – Amended Release

• RC drilling currently underway testing a 3.5km x 800m structurally complex zone

• Review of historical gold intercepts shows potential of high-grade gold mineralisation

• Increased exploration potential along strike and down dip.

The Company’s maiden RC drill programme is currently underway at Victory Bore. Figure 1 shows the current target area as a 3.5 km long x 800m wide zone of structural complexity (inset Figure 1) along an otherwise sub-parallel linear package of units with high and low magnetic response.

The target area contains a number of previously reported high grade gold intercepts. The structurally complex zone is characterised by a “blow-out” in sub-linear magnetic units which correspond with a series of NE-SW trending cross cutting sinistral faults. Other structures present are NW-SE trending faults and shears with strike inflexions with potential dilation zones.

These dilation zones, particularly where they intersect cross cutting structures, provide excellent targets for potential fluid pathways and gold mineralisation.

A re-examination of the distribution of gold in the original Battle Mountain drill results (previously announced by SRN on 12 and 29 August 2019) has shown that the notable intercepts contain very high-grade inner zones. For example, hole YP780 (formerly YR780) contains 8m @ 10.2 g/t Au from 20m including 4m @ 20.38 g/t Au from 20m and 200m along strike of this intercept is drill hole YR875 which contains 6m @ 5.41 g/t Au from 59m, including 1m @ 25.67 g/t Au from 59m. There appears to be several mineralised high grade horizons which the current RC drilling campaign is presently targeting.

Historic drilling along strike of this mineralised horizon has not previously been tested and remains open. The current programme will test these horizons along strike and also a number of the crosscutting faults. It should be noted that none of the mineralised horizons or structures in the area have been tested at depth.

In addition to the current drill targets in the northern portion of the lease, the magnetic data shows a large zone of structural complexity and has been identified as providing three major target zones for future exploration. Target 1 is the probable northwards extension of the known Victory Bore mineralised gold horizon whilst Targets 2 and 3 are areas of potential dilation and multiple fracture cleavages, both of which provide potential gold trap sites for fluid migrating along these pathways.

__________________________________________________________________________________ AUSTRALIA 45 Ventnor Avenue, West Perth WA 6005 | T +61 8 9429 8888 | F +61 8 9429 8800 ABN 48 083 274 024 | ASX SRN | E info@surefireresources.com.au www.surefireresources.com.au

==> picture [452 x 213] intentionally omitted <==

==> picture [452 x 214] intentionally omitted <==

==> picture [452 x 214] intentionally omitted <==

Figure 1:Victory Bore Current Drill Target Area

The Company will continue to update the market on the progress of the current exploration progress.

For further information, contact :

Vladimir Nikolaenko Managing Director

Competent Person Statement

The information in this announcement that relates to the historical Exploration Results is based on and fairly represents information compiled by Mr Michael Povey who is a Member of the Australian Institute of Mining and Metallurgy. Mr Povey has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he has undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserve Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Povey consents to the inclusion in this report of the matters based on this information in the form and context in which it appears.