SUREFIRE RESOURCES NL — Regulatory Filings 2020

Nov 4, 2020

5 November 2020

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ASX Announcement ASX Codes: SRN and SRNOB

YIDBY GOLD PROJECT

MAIDEN DRILLING PROGRAM AT YIDBY GOLD PROJECT COMPLETED

• Maiden reverse circulation (“RC”) drilling at the project has recently been completed.

• Prospects drilled include: Yidby Road, Cashen’s Find, and Delaney Well.

• Twenty holes drilled for a total of 1,687 metres.

• Majority of holes reported strong veining with metal sulphide mineralisation similar to descriptions in reports on historic drilling.

• Strong indications of shearing, alteration and veining observed in nine of twelve holes drilled at Yidby Road Prospect, with veining and mineralisation observed in all holes at

Cashen’s Find and Delaney Well Prospects.

• Massive quartz-carbonate veining up to 35m in down-hole width intersected

Surefire Resources NL (ASX:SRN, " the Company " or “ SRN ") is pleased to announce the completion of its maiden reverse circulation drilling program at the Yidby Gold Project. A total of 20 RC holes were drilled for an aggregate of 1,687 metres. The drilling targeted significant and high-grade gold intersections from historic drilling at the Yidby Road, Cashen’s Find, and Delaney Well Prospect areas.

The program was initially delayed due to contractor availability and progress was slow to moderate with average daily penetration of approximately 100m. Drill holes were collared at -60 degrees dip with the azimuth of holes being towards the east and west. Samples were taken as composites of 3m or 4m with 1m splits samples also being collected where veining, alteration, and/or metal sulphide mineralisation was present. A total of 777 samples were collected and submitted to NAGROM Laboratories of Kelmscott for multi-element analysis. 301 of these were 1m splits with the remainder being the 4m or 3m composites.

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

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Figure 1 Drilling at Yidby Road Prospect

Yidby Road Prospect

At Yidby Road Prospect, a total of twelve holes were drilled with the deepest being 160m. Drillholes included YBRC001 to YBRC012 for an aggregate of 1,225m. Holes typically encountered a 10m to 20m thick layer of pisolitic transported material, and then through weathered in-situ bedrock and clay saprolite down to approximately 40-50 metres. Fresh rock included high magnesium basalt, pyroxenites altered to talc-chlorite schist, and a mineralised quartz-feldspar porphyry with significant amounts of smoky quartz-carbonate veining associated with it. Sulphides present included fine to course euhedral pyrite, pyrrhotite, arsenopyrite, and minor galena. Several drillholes intersect significant amounts of mineralised quartz-feldspar porphyry with abundant veining and fracturing. These included YBRC005, YBRC006, YBRC007, YBRC008, YBRC009, YBRC010.

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Figure 2 YBRC005 chip tray showing 10m of massive veining with minor sulphide mineralisation

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Figure 3 YBRC006 chip tray showing 29m intersection of massive veining, porphyry with iron sulphides

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Figure 4 YBRC007 chip tray showing 25m intersection of massive veining, porphyry with iron sulphides

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Figure 5 YBRC008 chips showing 35m of weathered veining, clays, quartz-feldspar porphyry with sulphide mineralisation

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Figure 6 YBRC009 chips showing 27m of weathered veining, clays, quartz-feldspar porphyry with sulphide mineralisation

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Figure 7 YBRC010 chips showing 35m of weathered veining, clays, quartz-feldspar porphyry with sulphide mineralisation

Cashen’s Find Prospect

At Cashen’s Find, situated approximately 1.8 kilometres to the north of Yidby Road, a total of three RC holes were drilled targeting the mains artisanal costean referred to as Cashen’s Find. Historic drilling also targeted this working which resulted in:

	From	To	Interval	Au	Hole	Easting	Northing	RL	Dip	Azimuth (mag)	Total Depth
Hole ID	(m)	(m)	(m)	(g/t)	**Type **	MGA	MGA
CF17	15	21	6	3.00	RC	525956	6753663	300	-60	90	22
CFRC1	19	24	5	1.04	RC	525951	6753665	300	-60	90	30
CFRC3	15	20	5	1.09	RC	525971	6753616	300	-60	90	35

The holes at Cashen’s Find included CHRC001-CHRC003 with each hole being drilled to a depth of 50m. Each hoe intersected the quartz veined feldspar porphyry unit that outcrops within the costean. Mineralisation occurs on the hanging wall and footwall contact between the porphyry and the surrounding foliated metabasaltic rocks.

Delaney Well Prospect

At Delaney Well Prospect a total of five holes were drilled (DWRC001 to DWRC005) for 312m down to a maximum depth of 72m. The holes were targeting a north-south trending shear zone with numerous excavations along its strike length. Historic drilling reported significant and high-grade results outlined in the table below:

	From	To	Interval	Au	Hole	Easting	Northing	RL	Dip	Azimuth (mag)	Total Depth
Hole ID	(m)	(m)	(m)	(g/t)	**Type **	MGA	MGA
DRC-8	22	30	8	4.6	RC	527328	6760098	300	-60	90	34
including	22	24	2	17.7
DRC-10	16	24	8	0.43	RC	527324	6760140	300	-50	90	32
DRC-5	26	30	4	0.83	RC	527332	6759995	300	-60	90	34
DLRC002	35	37	2	2.32	RC	527318	6760140	300	-60	90	64

The gold workings occur at the junction point between a north-westerly trending shear zone, and a north trending structure. The controls on the mineralisation remain to be better understood, and it appears that potentially steep plunging shoots have not been adequately tested by the shallow historic drilling. Lithologies drilled included fresh tholeiitic basalt with quartz veining.

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Figure 8 Drilling at Delaney Well Prospect

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Figure 9 Yidby Project Prospect map

For further information, contact :

Vladimir Nikolaenko

Managing Director

Competent Person Statement

Information in this report relating to exploration results is based on information compiled by Martin Dormer Consultant Geologist. Mr. Martin Dormer, who is a member of the Australian Institute of Mining and Metallurgy, has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person under the 2012 Edition of the ‘Australasian Code for reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Dormer consents to the inclusion of such information in this report and the context in which it appears.