SUREFIRE RESOURCES NL — Management Reports 2023

Apr 30, 2023

SUREFIRE APPOINTS PERTH BASED "METS ENGINEERING" TO DEVELOP AN ADVANCED PROCESS FOR THE EXTRACTION OF HIGH PURITY VANADIUM FROM MAGNETITE

Key Points:

• Surefire Resources is focussing on a low cost, high value operation and has instructed METS to look at ways to extract maximum value using a streamlined process.
• METS Engineering have significant advanced metallurgical experience on all Western Australian high-grade Vanadium deposits.
• The Company continues to evaluate the Victory Bore resource for the emerging Vanadium storage battery market.
• Development of an advanced process coupled with the Companies potential HPA production could significantly enhance the projects financial metrics.

Surefire Resources NL ("Surefire" or "the Company") is pleased to advise it has appointed METS Engineering ("METS") to conduct further metallurgical test work on samples from its 100% owned flagship Victory Bore Vanadium project, located 400km from Geraldton Port in Western Australia (see Figure 1).

The Company's aim is to produce a high purity vanadium oxide in liquid form from which a clean high purity vanadium electrolyte can be recovered for use in the emerging vanadium battery sector in Australasia.

Following a review of metallurgical results from the Victory Bore deposit and in particular the mineralogical characteristics where Scanning Electron Microscope (SEM) assessment showed spot grade vanadium within the magnetite ranges from 1.8% to 3.9% V2O5, the Company concluded that the Victory Bore magnetite hosts relatively clean intrinsic vanadium, which should enable a simpler and cleaner separation in processing (see ASX release 13 February 2023).

Perth based METS were selected as they have an unrivalled depth of advanced metallurgical experience in assessment of Western Australian vanadium deposits and new extraction processes.

This work will be conducted in parallel with a separate study on the potential for production of High Purity Alumina (HPA) from the waste and host rock at Victory Bore, which is being undertaken by Lava Blue Ltd. (see ASX release 20 March 2023).

If this study is successful, it could see the incorporation of a HPA commodity stream along with the Vanadium commodity stream with potential to add considerable value to the Victory Bore projects financial metrics.

Results of both studies may be incorporated into the current Pre-Feasibility Study for the Victory Bore project.

Figure 1 100% Surefire Victory Bore Vanadium project location.

Victory Bore Status

Surefire is progressing the Victory Bore project at a key time when global markets have an increasing demand for vanadium. It is currently undertaking completion of highly detailed work as part of a Pre-Feasibility Study (PFS) economic assessment.

The Company recently updated the resources and exploration target of the Victory Bore project with a robust mineral resource of world class status setting it apart from other potential vanadium resources in Australia (see ASX announcement 7 March 2023 and Table 1 below):

Victory Bore Measured:	16.8 Mt @ 0.42% V2O5
Victory Bore Indicated:	70.3 Mt @ 0.40% V2O5
Victory Bore Inferred:	147.7 Mt @ 0.38% V2O5
Total	234.8 Mt @ 0.39% V2O5
Unaly Hill Inferred:	86.2 Mt @ 0.42% V2O5
Project Total: 2	321.0 Mt @ 0.39% V2O5

When the existing Mineral Resource Estimate (MRE) is added to the Exploration Target Estimate (ETE), the potential of the Victory Bore Project is the range of 1,003Mt to 1,511Mt @ 0.2% to 0.43% V205.

Lower Limit ETE	682 Mt @ 0.20% V2O5	Upper Limit ETE	1,190 Mt @ 0.43% V2O5
Project	321 Mt @ 0.39% V2O5	Project	321 Mt @ 0.39% V2O5
Total	1,003 Mt @ 0.20% to 0.39% V2O5	to	1,511 Mt @ 0.39% to 0.43 V2O5

1 The potential quantity and grade of the Exploration target is conceptual in nature. There has been insufficient exploration to estimate a Mineral Resource over the entire area of the Exploration Target, and it is uncertain if further exploration will result in the estimation of an increased Mineral Resource.

2The total numbers may include rounding. The Victory Bore resource is based on a 0.26% V2O5 cut-off grade. Resource estimation by external consultants HGMC using ordinary kriging.

The Company recently announced the completion of an environmental study revealing no early hurdles in the approvals process paving the way for progressing the project (see ASX announcement 18 April 2023).

Management Comment: Mr Paul Burton, Managing Director said "This could be an exciting new pathway for our world class vanadium deposit at Victory Bore. With more focus from financiers and partners on good ESG credentials the Company's strategy in looking to add value by exploring the streamlining of Vanadium recovery by focussing on the battery market whilst also exploring the recovery of HPA makes sound environmental and commercial sense. We look forward to updating the markets with results when they are available".

Authorised for ASX release by Paul Burton, Managing Director:

Inquiries:Paul Burton Managing Director +61 8 6331 6330

About Surefire Resources:

Surefire Resources is an Australian mineral exploration company based in Perth, Western Australia (WA). The company holds mineral exploration licences over Vanadium, Magnetite and Gold projects located in WA. Its focus is on adding value to shareholders by advancing its Victory Bore vanadium critical and battery minerals project, a 321Mt JORC resource located close to existing infrastructure and currently in Pre-Feasibility stage. In addition, its large magnetite project with up to 1B tonnes of high grade Iron, and its Gold project have potential to add considerable value to the company.

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.

Competent Persons 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.

The information in this report that relates to the Victory Bore Vanadium mineral resource estimation is based on work completed by Mr. Stephen Hyland, a Competent Person and Fellow of the AusIMM. Mr. Hyland is Principal Consultant Geologist with Hyland Geological and Mining Consultants (HGMC), who is a Fellow of the Australian Institute of Mining and Metallurgy and holds relevant qualifications and experience as a qualified person for public reporting according to the JORC Code in Australia. Mr Hyland is also a Qualified Person under the rules and requirements of the Canadian Reporting Instrument NI43-101. Mr Hyland consents to the inclusion in this report of the information in the form and context in which it appears*.*

JORC Code, 2012 Edition: Section 1: Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

Criteria	Commentary
SamplingTechniques	Reverse Circulation ("RC") drilling was carried out with an RCD250 drilling rig with a Deck mounted Sullair 1150/350compressor coupled to a Sullair 1350/500 Auxiliary compressor and 2400cfm/950psi Air Research booster. Rigmounted sampling system with twin sample collection chambers and a Sandvik cone splitter. 4 ½ inch drill pipe with 5inch face sampling hammer. The holes were drilled to 140mm diameter. Standard rig mounted sampling system wasemployed.Samples were taken from the collar (0m). Sampling was continuous to the end of hole depth. Each metre wasgeologically logged and assayed by hand-held XRF, assayed for mag sus. and recorded. Each metre was chip trayedand kept in storage. Drill collar positions were captured using a DGPS to 10mm accuracy.
	Each metre of samples was split with a three-tier rifle splitter mounted beneath the cyclone on the drill rig. Metresamples were collected in green mining bags and calico bags. Each metre was also sieved and collected in a chip trayfor geological logging. Samples were composited to 2m manually using a 50% riffle splitter. The 2m compositesamples were delivered to Nagrom Laboratories in Kelmscott by Surefire staff for assay of vanadium and multielement assay.
Drillingtechniques	62 X 140mm RC holes were drilled for a total of 5,189 metres. The Reverse circulation rig used a downhole hammerand face sampling button bit.
	Sample piles were recorded for each 6m rod. Rods were counted when pulled at the end of each hole. Given therelatively short hole length, no down hole surveying instruments were used.
Drill samplerecovery	Geologist supervising the drilling program recorded each metre as it was drilled. Geological logs, samples logs, dailydrill logs, and sample piles all recorded hole depths. No aberrations were found.
	All logs of sampling and drilling lengths matched.
	Each metre was recovered. No redrilling was necessary. No biases were recorded.
Logging	Drill cuttings were geologically logged to the level of detail deemed appropriate for mineral exploration, with detailsentered into a geological database.
	Drilling logs record weathering, oxidation, mineralogy, colour, texture, structure accessory minerals sulphides andmineralisation. All logging is quantitative.
	The drill holes reported were logged in full.
Sub-sampling	No core drilling carried out.
techniques andsamplepreparation	Three tier riffle splitters were used to take one metre samples. Samples were combined to form 2m composites using a50% riffle splitter.
	All samples were transported to the Nagrom sample preparation/assay laboratory Kelmscott. The sample preparationfollowed industry best practise. All samples pulverised to 75um passing 85%.
	The external laboratory's QA/QC procedures involved the use of appropriate standards, duplicates and blanks whichare inserted into sample batches at a frequency deemed appropriate for the exploration results.
	Sample size was approximately 2kg – 3kg in weight. Field duplicates, standards and blanks were inserted at a randomrate of approximately 1 per 20 samples. Given the nature of this resource, the sample sizes are deemed appropriate.

Quality of assaydata andlaboratorytests	The analytical technique utilised the Nagrom KM-2209-064256 method for Al, Al2O3 Co CoO Cr Cr2O3 Cu CuOFe Fe2O3 Ni NiO P P2O5 S SO3 Si using Method XRF104 for result units as percentages. LOI used the TGA 002 methodto percent units.The Laboratory has provided standards and QA/QC additional to that of Surefire. The external laboratory usedmaintains their own process of QA/QC using standards, and blanks. Review of the external laboratory quality QA/QCreports and Surefire external laboratory quality QA/QC reports has shown no sample preparation issues withacceptable levels of accuracy and precision and no bias in the analytical datasets.
Verification of	The sampling techniques were reviewed in the field by an external consultant.
sampling andassaying	No twinned holes were drilled.
	All data is recorded in specifically designed templates. Assay data was received in spreadsheets and downloaded intogeological database.
	The analysis of Vanadium was provided by the laboratory as V and V2O5. No other adjustments were made to the dataon receipt from the assay laboratory.
Location of DataPoints	Initial drill hole collars were located with a Garman GPS. Final collar locations were located using a digital GPS, accuracy+/- 10mm.
	Drill hole location is reported using the GDA94_MGAz50 grid system.
	Drill hole collar was located by GPS. Elevation value is in AHD.
Data spacing and	RC holes were drilled at approximately 25m across strike and 100m line spacings.
distribution	The data spacing is considered sufficient to assume geological and grade continuity. It is expected that this drilling willallow the estimation of Inferred and Measured Mineral Resources.
	Samples were composited from 2m according to supervising geologist.
Orientation ofdata in relation	The drill hole was angled perpendicular to the strike of the target horizon to achieve unbiased sampling of the targethorizon.
to geologicalstructure	Drill intersections are not true widths.
Sample security	Chain of custody of samples was managed by the company and the laboratory. Logging and sampling were carried outin the field at the time of drilling.
	Audits or reviews Sample preparation followed industry best practice at the commercial laboratory facility. QA/QC of assay analysesshows there are no issues with sampling, analytical techniques or results.

Section 2: Reporting of Exploration Results

(Criteria in this section apply to all succeeding sections.)

Criteria	Commentary
Mineral tenement andland tenure status	The exploration results in this report relate to Exploration Licence E57/1036. This EL is 100% owned by SurefireResources NL and is currently a M in application - M57/656.
	Tenure in the form of Exploration Licences with standard 5-year expiry dates which may be renewed. There areno known impediments to obtaining a licence to operate in this area.
Exploration done byother parties	Previous regional exploration on the project was undertaken by the company and included, geophysicalsurveys, geochemical surveys, rock sampling and RC drilling. Historical geophysical surveys included an airborne(helicopter) magnetic survey. Geochemical surveys included soil sampling. A detailed assessment of thehistoric data is in progress. No significant issues with the data have been detected to-date.

Geology	The Project occurs within the Atley Igneous Complex in the East
	Murchison Mineral field of Western Australia. The Atley
	Intrusion is an Anorthosite body that is elongate in an NNE/SSW orientation and runs along the axis of theregional scale Youanmi Fault, a regionally dominant geological feature. Further drilling and assaying isrequired to fully assess the geology and style of mineralisation.
	Mineralogy and petrology studies completed suggest that host rocks at Unaly Hill are historical magnetitelayers within intrusive Anorthosite, gabbro and ultra mafics. The targeted deposit type and style ofmineralisation is a Fe-Ti-V magnetite system.
Drill hole Information	Refer to Table 1 of this report where drill hole collar and downhole orientation and depth information istabulated No information has been excluded.
Data aggregationmethods	Where assays were composited for summary purposes, all assays were weighted by drill interval. No high-gradecuts have been applied to the sample data reported.
	Where assays were composited for summary purposes, all assays were weighted by drill interval.
	No metal equivalent values are used
Relationship betweenmineralisation widthsand intercept lengths	The orientation of mineralization relative to the drill hole is depicted in figures. Drill intersections are not truewidths.
	All drill hole results reported are downhole length, true widths are approximately 82.6% of the down hole widths.
	All drill hole results reported are downhole length, true widths are shown on figure 3 and in the text.
Diagrams	Appropriate diagrams are included in the main body of this report.
Balanced Reporting	Reporting of the drill results is considered balanced.
Other substantiveexploration data	No additional meaningful and material exploration data has been excluded from this report.
Further work	Resource estimation and a prefeasibility work is planned for the Project which may require additional RC
	percussion and/or diamond drilling to be undertaken.

Section 3: Estimation and Reporting of Mineral Resources

(Criteria in this section apply to all succeeding sections.)

Criteria	Commentary
Database integrity	The drill hole database is maintained by Surefire Resources NL
	The Competent Person has verified the internal referential integrity of the database. In total 136 drill-holeswere available to assist with resource model development.
	Some historic drill holes required verification of location and elevation and adjusted to known and relativelyflat topographic surface.
	No other significant errors or concerns were encountered.
Site visits	A site visit has not yet been undertaken to the specific Victory Bore location by the Competent Personresponsible for the resource estimation. The competent person has visited the very near vicinity of Victory Borein the past and is very familiar with the general terrane. The Competent Person has also relied upon reportsfrom different personnel including Surefire representatives that have visited and worked at the Victory Boredeposit location. The site is at a very early stage of development with limited features currently observable.

Geologicalinterpretation	Some mapping , geomagnetic surveys and subsequent geologic interpretation has been carried out to captureboth the geological and structural information used to guide resource modelling at Victory Bore. A precursorinterpreted structural mapping study carried out by Surefire Resources NL shows a clear relationship betweenobservable strong linear magnetic anomalies and Vanadium mineralization. Mineralization modelling has beenguided by the combined geological and structural information as is currently available.Mineralisation envelopes were interpreted in E-W and plan (bench) section slices using all available drill holedata. A nominal 0.1-0.0.15% V2O5 edge lower cut-off was initially used to delineate anomalous Vanadiferousmineralization. The mineralization developed was also locally partially adjusted to capture and delineate theextends of mineralization in sub-optimally drilled areas.The mineralisation envelopes are contained within a reasonably scaled, interpreted geological and structurally
	mapped package that is confirmed to correlate with the majority of samples / observed V2O5 mineralization.
Dimensions	The majority of the geologically interpreted Victory Bore mineralised occurrence has an approximate 7200mstrike length.The mineralisation interpreted width ranges from approximately 30 m to 150 m depending on the zoneobserved. Mineralization in the majority of the deposit area extends and has been modelled to a depth ofapproximately 250 m below topographic surface.Mineralisation has been modelled commencing immediately below current topographic surface.
Estimation and modellingtechniques	All available RC drilling data was used to build the mineralisation model and for guiding Mineral Resourceestimation. Recent verification RC drilling carried out by Surefire has also enabled some of the estimatedresources to be assigned a higher level of resource estimation confidence and therefore higher level of resourcereporting classification.
	Surefire has acquired new assay information from recent drilling programs. An updated drilling, geological loggingand assay database was used to define and model the mineralised domains for Vanadium (V2O5%). Also includedwere other ancillary element analytical items for use in material characterization in preliminary mining andprocessing studies. The main additional analytical items included TiO2(%), Fe(%), Al2O3(%), Co(%), Cr2O (%),SiO2(%), P(%), Cu(%), Ni(%) & LOI(%).
	The majority of drill collar positions have been surveyed. Newly drilled holes were accurately DGPS surveyed bySurefire. Some of the historic collar positions were adjusted according to Topographic DTM surface data. Somehistorical un-surveyed drill hole collar elevations were draped onto a 'pre-mining' topographic DTM surface andwere checked in order to match the known surveyed drilling. The survey control for collar positions is consideredadequate for the estimation of resources as stated.
	The mineralised domains were interpreted from the drilling data and Geomagnetic data provided by Surefire. Setsof cross-sectional 3D strings were generated throughout the deposit area in the E-W orientation. These were thenused to interpret and connect to generate 3D wire-frames. The resulting V2O5 mineralization wire-frame domainwas then used for statistical analysis and grade estimation. The development of mineralization wire-frame wastightly controlled and not extended (extrapolated) beyond 1 average section spacing from the last drill-hole 'pointof observation' but some extension was permitted where clear geomagnetic mapping data showed clearextensions of V2O5 mineralization.
	A set of wire-frame weathering surfaces and broad material type wire-frames were also modelled to highlight thenear surface highly weathered thin material as well as the underlying transitional material types. These materialtypes were used to assign basic bulk density characteristics for the deposit.
	Spatial statistical analysis was carried out on the main V2O5 assay data item and all other important ancillaryanalytical items. Sample data was composited to two (2) metre down-hole intervals initially based on the assayedV2O5 item intervals. This also included equivalent compositing for the ancillary TiO2(%), Fe(%), Al2O3(%), Co(%),Cr2O (%), SiO2(%), P(%), Cu(%), Ni(%) & LOI(%). The composite probability distributions for all analytical itemswere interrogated to review localized average grades, composite 'outlier' values and related coefficient ofvariation levels.
	The main V2O5 composite item was used to generate both down-hole and where possible longer range betweenhole semi-variograms models to establish interpolation ranges and relative nugget and sill ratios used in OrdinaryKriging interpolation for block model grade assignment. Similar analysis was carried out for TiO2(%), Fe(%),Al2O3(%), Co(%), Cr2O (%), SiO2(%), P(%), Cu(%), Ni(%) & LOI(%).

	One (1) block model was constructed for the total deposit area combining the basic lithology and mineralizationmodelling for the main V2O5 item. The Block model was constructed using a 3D array of blocks with dimensions ofusing 5.0 m x 20.0 m x 5.0 m (E-W, N-S, Bench) block cells coded with the mineralisation wire-frames.
	The Block Model coordinate boundaries (GDA94 MGA Zone 50) are;
	693100m E to 696400m E - (660 x 5 m blocks)
	6867400m N to 6874700m N - (365 x 20 m blocks)
	150 m RL to 480 m RL - (66 x 5.0 m benches)
	The Ordinary Kriging (OK) interpolation method was used for the estimation of the main V2O5 item usingvariogram parameters defined separately from the geostatistical analysis of each mineralization zone. Separatededicated Kriging interpolation runs were also carried out for each of the ancillary analytical items and usedspecific interpolation parameters associated for each item.
	No extrapolation of grades outside the mineralization wire-frame was permitted. A minimum of 1 compositeselected – Max of 24 composites within search ellipsoid. A maximum of 2 composites per hole allowed. Searchellipsoids based on Semi-Variograms Showing search ellipsoid ranges of approximately 300m (long), 150m (DownDip) and 20m (across) ranges. A minor outlier 'distance of restriction' approach was applied during theinterpolation process for all items in selected domains in order to reduce the unwanted spatial influence of veryhigh-grade outlier composite samples. The distance of restriction was set at 40m and with the grade thresholdvalue set within an approximate the 99th to 99.5th percentile level.
	Dry Bulk Density ("density") was initially assigned by mineralization domain with the designation of valuesassigned representing the average bulk density for each material type. This broad assignment was thenoverprinted by down-hole probe Bulk Density measurement data (consolidated to ~5100 measurements)composited and interpolated to block model using 'Nearest Neighbour' interpolation.
Moisture	All tonnages are reported on a dry basis.
Cut-off parameters	A 0.26% and 0.3% V2O5 lower cut-off has been applied for reporting resource reported tonnes and grade. Thiscut-off is considered in line with current mineralization type, likely favourable processing route and the Vanadiumprice in conjunction with associated possibly recoverable beneficial elements such as TiO2 and Al2O3.
Mining factors orassumptions	It is assumed the majority of the deposit will be mined using open pit mining methods as the deposit outcrops atsurface.
	Detailed grade control will refine resource and expected reserve detail prior to any mining activity.
Metallurgical factors orassumptions	Metallurgical recovery assumptions have not been used, however reasonable mineral recovery levels areexpected through magnetic media separation based on an early-stage understanding of the likely metallurgicalcharacteristics of the known mineral species observed from drill samples and preliminary laboratory bench scaleconcentrate recovery tests as well as some Davis Tube Recovery Tests showing initial good Vanadium concentraterecoveries.
Environmental factors orassumptions	The resource is located in an area of historic mining. It is assumed no significant environmental factors would
Bulk density	prevent activation of mining and related mineral processing activities.Dry Bulk Density (DBD) has been determined from a very large number of down-hole densitometer
	measurements taken as part of the recent Surefire drilling program.The bulk densities measured appear sufficiently variable considering the distribution of the mineralization zonesand are deemed representative for the rock material and mineralization types described for the Victory Boredeposit.The density measurements have been averaged in deposit areas according to the geologically logged materialtype characterization where densitometer readings are not available. Locally where measurement data isavailable these have been interpolated locally into the block model.The bulk density values applied in the deposit are: Highly weathered zone = 2.22 – 2.34 t/m3, Transitional Zone =2.57 -2.74 t/m3 and Fresh / Sulphide Zone = 2.98 -3.42 t/m3. Locally the nearest neighbour assigned values can beboth slightly higher and lower than the averages shown here.
Classification	The classification was considered appropriate on the basis of drill hole spacing, sample interval, geologicalinterpretation, and representativeness of all available assay data.

	The classification criteria has also employed multiple 'ancillary' interpolation parameters including 'distance ofcomposite to model block' (DIST1), 'number of composite available within the search ellipsoid' (COMP1) for eachblock interpolation and the local kriging variance' (KERR1) for each block. The DIST1, COMP1 and KERR1 itemvalues are 'condensed into a 'quality of estimate' (QLTY) item.From the final QLTY item a 3D 'consolidated' Resource Category wireframe was developed. This was then appliedto the RCAT Resource Reporting Item in the block model.
	Classification of the resources has been assigned by the Competent Person and includes a series of project specific'modifying factors' appropriate for the Resource estimation.A small amount of Measured Resources is estimated with some Indicated Resources. The majority ofmineralization is in outer more sparsely drilled zones being classified as Inferred. The Measured Resource component is restricted to some of the more densely drilled zones where reliable grade continuity is observed andwhere local estimated variance is lowest. Also considered is the very good metallurgical processing recoveryinformation thus far measured for the mineralized material tested at laboratory scale and in Davis Tube RecoveryTesting.
Audits or reviews	The mineral Resource model and estimation has been internally reviewed by Surefire. No major concerns relatingto the assumptions or estimation findings or classification issues have been identified.
Discussion of relativeaccuracy/ confidence	The Competent Person considers the mineral resource to be a robust and reliable global estimate of thecontained V2O5 and related mineralization. The estimation has been constrained within defined mineralisationwire-frames.The Resource classification applied to the Resource reflects the Competent Person's confidence in the estimate.