SUREFIRE RESOURCES NL — Capital/Financing Update 2024

Oct 2, 2024

SUREFIRE SUBMITS PLANS FOR MAIDEN DRILLING PROGRAM AT PHAT BOY COPPER

______________________________________________________________________________

Australian resource company Surefire Resources NL (ASX: SRN) ("SRN" or the "Company") is pleased to announce plans for a maiden drilling program at the Company's Phat Boy Copper prospect at its 100% owned Yidby East project in the mid-west of Western Australia (Figure 1).

The Phat Boy prospect consists of four coincident copper and zinc anomalous zones which have been delineated along the margin of an inferred shear zone adjacent to an outcropping folded Banded Iron Formation (BIF) over a distance of 3km (see Figures 2).

The project is interpreted to sit within a similar geological and structural setting to the world class Golden Grove massive sulphide deposit (see ASX announcement 5 September 2024). Surefire intends to investigate the potential of the area to host massive and disseminated sulphide mineralisation.

Volcanogenic (Volcanic) massive sulphide (VMS), and Volcanic Hosted massive sulphide (VHMS) deposits are major sources of zinc, copper, lead, silver, and gold. They typically occur as lenses of polymetallic massive sulphide that form on the seafloor in submarine volcanic environments and are classified according to base metal content.

The Phat Boy prospect is located on the southern portion of E59/2426 where previous exploration highlighted native copper and sulphides during a drilling programme that was investigating the Banded Iron Formation (BIF) as a magnetite resource, within a package of interpreted submarine volcanic rocks.

Surefire is conducting a follow up soil sampling program over the highly anomalous copper and zinc recovered from initial soil sampling on the northern flank of the BIF (see ASX announcement 17 September 2024), and will drill test the targets.

In preparation for the drilling, the Company has submitted a Program of Works (PoW) to the West Australian Department of Energy Mines Industry Regulation and Safety (DEMIRS) for an initial 11-hole RC (Reverse Circulation) drilling program. Site access will initially be from existing tracks in the area with additional tracks where required. Site works in preparation for the drilling will commence in approval of the POW.

Managing Director, Paul Burton said:

"Surefire is of the view that the high tenor of soil results, coupled with the presence of gossanous material and the previous occurrence of native copper and sulphides, makes this early planning for drilling approvals a prudent step as we advance this exciting programme".

Figure 1: Location map.

Figure 2: Copper anomalies and selected targets.

Figure 3: T1-T4 location and access.

Surefire plans to drill an initial 11 RC holes to a maximum depth of 200m for a total of 2200m. These will be focussed on the four target areas (T1 – T4) which are located to the east of the Company's Yidby Gold project and Money geochemical target (see figure 3).

Further information on the Company's plans at Yidby Gold will be made in due course.

Authorised for release to ASX by Paul Burton, Managing Director.

Inquiries: Paul Burton Managing Director +61 8 6331 6330

Competent Person Statements:

The information in this report that relates to exploration results has been reviewed, compiled, and fairly represented by Mr Horst Prumm, a Member of the Australian Institute of Mining and Metallurgy ('AusIMM') and the Australian Institute of Geoscience ('AIG') and a fulltime employee of Prumm Corporation Pty Ltd. Mr Prumm has sufficient experience 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 Prumm 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 forward-looking 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.