SUREFIRE RESOURCES NL — Capital/Financing Update 2021

Mar 31, 2021

YIDBY ROAD GOLD PROJECT

SECOND RIG ON SITE

Surefire Resources NL (ASX: SRN, "the Company" or "SRN") is pleased to announce that a second RC drilling rig has commenced drilling at the Yidby Road gold prospect, located in the highly prospective southwest Murchison Province of Western Australia (see Figure 1).

Drilling has intersected the mineralised structure and felsic porphyry at depth and to the north of previous drilling and the mineralisation remains open in all directions.

The second rig is testing for extensions of the mineralised zone at depth and to the southwest – targeting a doubly plunging zone, potentially extending both to the northwest and southeast.

The Yidby Road Drilling Program:

The total drilling program of up to 6,000m is focused on extending the previously intersected zone that produced thick and relatively high-grade intersections (ASX:SRN: 30 November 2020 and 15 December 2020) from an east dipping, mineralised zone straddling the boundary between sheared ultramafic/mafic rocks and a large felsic "porphyry" intrusion.

To date the gold mineralised zone at Yidby Road has only been tested for a 150m strike length and to a shallow depth of less than 100m. Exceptional intersections including YBRC007 of 56m @ 1.97 g/t Au from 44m including 4m @ 14.47 g/t Au, on the northern most section tested, and YBRC008: 40m @ 3.01 g/t Au from 24m including 4m @ 26.57 g/t Au from the current centre of the prospect, are completely open at depth and along strike to the northwest and southeast.

Historical aircore drilling intersected mineralisation across a 400m zone to the west of the recently intersected zone. MMI soil sampling results have confirmed this 400m wide anomalous corridor and indicate that the zone extends at least another 400m to the northwest. This corresponds to a major structural corridor identified through interpretation of gravity imagery that continues to the northwest and southeast of the drilled Yidby Road mineralisation and appears to have off-set the surrounding ultramafic and mafic rocks. Further, aircore, drilling will be planned to test these regional targets.

The key objectives of these programs will be to grow, through drilling, the scale of the Yidby Road gold prospect and confirm potential for a major new gold discovery.

Surefire Managing Director Vladimir Nikolaenko commented:

"Now that the second rig has commenced at Yidby Road we will be able to accelerate this very exciting program.

Drilling has already intersected extensions of the mineralised zone at depth and to the north and we look forward to the first results within weeks".

Yidby Gold Project

The Yidby Gold Project is situated within the southern portion of the Yalgoo-Singleton Greenstone Belt near Ninghan Station Homestead. To the south of the project is the Extension Hill iron ore mine and the Mount Gibson Gold Mine. The three exploration licences cover 113.77km² and include three gold prospects hosting significant gold mineralisation at Yidby Road, Delaney Well and Cashens Find Prospects.

The project is centred in a highly attractive location being within 1km of the Great Northern Highway, a major arterial road which services the various mining centres and is the state's main link to the north west. The project is 400km along this route from Perth.

The project is in the Singleton-Yalgoo Greenstone Belt and is surrounded by several significant gold projects. The +1.1 million-ounce Minjar Gold Project is located approximately 65km to the northwest, the million-ounce Kirkalocka Gold Project is approximately 70km to the northeast, Mount Gibson Gold Project is 30km to the south and the Rothsay Gold Project is 30km to the west (see Figure 1).

Figure 1: Yidby Gold Project location on regional geology with major gold projects & mineral occurrences

Authorised for ASX release by:

Vladimir Nikolaenko Managing Director

Competent Person Statement:

The information in this report that relates to exploration results has been reviewed, compiled and fairly represented by Mr Jonathon Dugdale, a Fellow of the Australian Institute of Mining and Metallurgy ('FAusIMM') and a full time employee of Discover Resource Services Pty Ltd. Mr Dugdale has sufficient experience, including over 34 years' experience in exploration, resource evaluation, mine geology and finance, relevant to the style of mineralisation and type of deposits under consideration to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee ('JORC') Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves. Mr Dugdale consents to the inclusion in this report of the matters based on this information in the form and context in which it appears.

Forward Looking Statements:

This announcement contains 'forward-looking information' that is based on the Company's expectations, estimates and projections as of the date on which the statements were made. This forward-looking information includes, among other things, statements with respect to the Company's business strategy, plans, development, objectives, performance, outlook, growth, cash flow, projections, targets and expectations, mineral reserves and resources, results of exploration and related expenses. Generally, this forward-looking information can be identified by the use of forwardlooking terminology such as 'outlook', 'anticipate', 'project', 'target', 'potential', 'likely', 'believe', 'estimate', 'expect', 'intend', 'may', 'would', 'could', 'should', 'scheduled', 'will', 'plan', 'forecast', 'evolve' and similar expressions. Persons reading this announcement are cautioned that such statements are only predictions, and that the Company's actual future results or performance may be materially different. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information.