SUREFIRE RESOURCES NL — Regulatory Filings 2021

Sep 5, 2021

LARGE 1000m x 250m AU MMI SOIL ANOMALY DEFINED AT YIDBY GOLD PROJECT

3 New Gold Targets generated & untested by Historical Drilling

• MMI Soil Geochemical results have been finalised and returned from SGS laboratories in Perth comprising a total of 520 samples with a peak value of 29.1 ppb Au
• Structural interpretation using 1VD Aeromagnetic data extended to include the new geochemical targets
• MMI Au in soil anomalism coincident with cross faulting of the interpreted sheared BIF/Ultramafic contact
• T1-T3 exploration targets set the basis for a new Program of Works (POW) submission to the DMP

Surefire Resources NL (ASX: SRN, "the Company" or "SRN") is pleased to announce the results of its soil geochemical survey that was undertaken in an area southeast and along strike from the Yidby Gold Deposit (refer to 27th July and 30th August ASX Announcements). 520 samples were collected over a 100m x 25m grid and analysed at SGS Perth using the mobile metal ion (MMI) protocol – an advanced geochemical technique used in finding undercover mineral deposits (Figure 1).

The geochemical results were plotted on a heat map which has led to the definition of three discrete and significant soil anomalies for addition to the company's exploration portfolio (Figure 1). The newly defined 'Money Anomaly' is a large NW trending 1000m x 250m area of MMI Au in soil anomalism (T1). The peak value of 29.1 ppb Au (YS0304) within T1 is approximately 58 times the background reading of ~0.5 ppb Au (Table 1). Two other smaller geochemical targets were also defined lying adjacent to T1 and are approximately 200m x 100m wide (T2-T3). A POW submission is now being designed to test these targets in future exploration drill programs at the Yidby Gold Project.

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Figure 1 Plan view of the newly defined MMI Soil Anomalism along strike from the Yidby Gold Deposit. The green historical drill collars that are located to the East are 700 m away from the centre of the peak soil anomalism of T1 and were ineffective at testing gold mineralisation. Drillholes in this SE area were historically drilled to explore for BIF hosted magnetite not gold mineralisation.

The T1-T3 targets have never been drill tested by previous explorers and provide potential for new gold discoveries to be made directly across the road and along strike from the Yidby Gold Deposit (Figure 2).

Figure 2 Plan view location of the Soil Geochemical Survey results along strike from the Yidby Gold Deposit.

Surefire Managing Director Vladimir Nikolaenko commented:

"We are very excited to define such a large Au geochemical anomaly directly along strike and across the road from the Yidby Gold Deposit."

"We can now add these additional exploration targets to the portfolio and drill test these alongside development of the Yidby Ore body"

Figure 3 Yidby Gold Deposit & Exploration Targets T1-T3 Regional Setting. The Yidby Gold Deposit is surrounded by four operating gold mines.

About 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, Mount Gibson Gold Mine. The three exploration licences cover 113.77km² with three gold prospects hosting significant gold mineralisation. Historic workings occur at Ninghan Mining Centre, Delaney Well, and Cashens Find, while historic drilling which reported significant gold intercepts has occurred 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 also surrounded by several significant gold projects. The Mount Gibson Gold Project is 30km to the south, the Rothsay Gold Project is 30km to the west. 65km to the north-east along the Singleton-Yalgoo Greenstone Belt is the +1.1 million-ounce Minjar Gold Project, while the millionounce Kirkalocka Gold Project is approximately 70km to the north-east. 40km along the Great Northern Highway is the Paynes Find Mining Centre.

Authorised for ASX release by:

Vladimir Nikolaenko Managing Director

Competent Person's Statement

The information in this announcement that relates to geology and exploration activities has been compiled by Mr Charles Armstrong, a member of the Australian Institute of Mining and Metallurgy (AusIMM) and a member of the Society of Economic Geologists (SEG) and a member of the Australian Institute of Mining and Metallurgy (AusIMM). Mr Armstrong hassufficient experience which is 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 Armstrong 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.

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

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

Criteria	JORC Code explanation	Commentary
Sampling techniques	Nature and quality of sampling(e.g., cut channels, random chips, orspecific specialised industrystandard measurement toolsappropriate to the minerals underinvestigation, such as down holegamma sondes, or handheld XRFinstruments, etc). These examplesshould not be taken as limiting thebroad meaning of sampling.Include reference to measures takento ensure sample representivity andthe appropriate calibration of anymeasurement tools or systemsused.Aspects of the determination ofmineralisation that are Material tothe Public Report.In cases where 'industry standard'work has been done this would berelatively simple (e.g., 'reversecirculation drilling was used toobtain 1 m samples from which 3 kgwas pulverised to produce a 30 gcharge for fire assay'). In othercases, more explanation may berequired, such as where there iscoarse gold that has inherentsampling problems. Unusualcommodities or mineralisationtypes (e.g., submarine nodules) maywarrant disclosure of detailedinformation.	520 soil samples were collected andprocessed using the mobile metal ion(MMI) protocol at SGS Perth. Sampleswere collected from the A soil horizon atdepths of approximately 10-25 cm belowthe surface. The upper 5-10 cm of soillayer was scraped away eliminatingpossible contamination and loose organicmaterial. Samples were obtained bysieving the material using 1.6mmaluminium sieve, 330mm diameter.Approximately 300g of material wascollected for each sample.In order to ensure quality andrepresentativeness of the MMI samples,the sampling procedures were executedby an experienced MMI-geochemist(Andrew Hawker). Depth of sampling wasmaintained within the interval of 10-25cm ensuring consistency of results.Industry Standard procedures forsampling and processing of the MMIsamples was used and all samples weredelivered to SGS laboratories in Perthwhich has an exclusive licence to use theMMI technique.
Drilling techniques	Drill type (e.g., core, reversecirculation, open-hole hammer,rotary air blast, auger, Bangka,sonic, etc) and details (e.g., corediameter, triple or standard tube,depth of diamond tails, facesampling bit or other type, whethercore is oriented and if so, by whatmethod, etc).	NA to this announcement.
Drill sample recovery	Method of recording and assessingcore and chip sample recoveries and	NA to this announcement.

Criteria	JORC Code explanation	Commentary
	results assessed.Measures taken to maximisesample recovery and ensurerepresentative nature of thesamples.Whether a relationship existsbetween sample recovery andgrade and whether sample biasmay have occurred due topreferential loss/gain of fine/coarse	NA to this announcement.
Logging	material.Whether core and chip sampleshave been geologically andgeotechnically logged to a level ofdetail to support appropriateMineral Resource estimation,mining studies and metallurgicalstudies.Whether logging is qualitative orquantitative in nature. Core (orcostean, channel, etc) photography.The total length and percentage ofthe relevant intersections logged.	Documentation of the samples includedtaking GPS coordinates of each sample inGDA94 MGA Zone 50 using a handheldGPS. Soil type, colour, hardness, moistureand depth of sampling, presence ofoutcrops and sub-cropping quartz veinswere all recorded at each sample site.Logging was qualitative. No photos of thesamples were taken.All samples were logged to the level ofdetail sufficient for the reporting of SoilGeochemical Results.
Sub-sampling techniques andsample preparation	If core, whether cut or sawn andwhether quarter, half or all coretaken.If non-core, whether riffled, tubesampled, rotary split, etc andwhether sampled wet or dry.For all sample types, the nature,quality and appropriateness of thesample preparation technique.Quality control procedures adoptedfor all sub-sampling stages tomaximise samples representivityMeasures taken to ensure that thesampling is representative of the insitu material collected, including forinstance results for fieldduplicate/second-half sampling.	NA to this announcement.Geochemical samples were collected fromA-horizon of soil by digging a small hole,10-30 cm deep and sieving the dugmaterial through a 1.6 mm sieve.Approximately 300 grams of sievedmaterial was collected, placed into asealable plastic sample bag and deliveredto SGS laboratory. All samples were dry.Drill MMI method used multicomponentsolution for weak partial extraction of themobile ions which are released into thesolution. The concentration of thereleased metals is assayed using highsensitivity ICP-MS technique. Theprocedure for extraction of the mobilemetals and their assaying was developedby SGS laboratory.NA as preparation of MMI samples doesnot include sub-sampling.Laboratory QAQC procedures includedrepeat assays, blanks and standardsamples.

Criteria	JORC Code explanation	Commentary
	Whether sample sizes areappropriate to the grain size of thematerial being sampled.	250-350g is the standard size ofgeochemical samples that are processedusing the MMI technique.
Quality of assay data andlaboratory tests	The nature, quality andappropriateness of the assaying andlaboratory procedures used andwhether the technique is consideredpartial or total.For geophysical tools,spectrometers, handheld XRFinstruments, etc, the parametersused in determining the analysisincluding instrument make andmodel, reading times, calibrationsfactors applied and their derivation,etc.Nature of quality controlprocedures adopted (e.g.,standards, blanks, duplicates,external laboratory checks) andwhether acceptable levels ofaccuracy (i.e., lack of bias) andprecision have been established.	MMI is a high-sensitivity ICP-MStechnique that has a limit of detection(LOD) in the parts-per billion (ppb) rangeNA to this announcement.Internal QAQC procedures wereimplemented at the laboratory stagewhich included the industry standard useof repeats, blanks and standards (MMI-MAMIS0169).
Verification of sampling andassaying	The verification of significantintersections by either independentor alternative company personnel.The use of twinned holes.Documentation of primary data,data entry procedures, dataverification, data storage (physicaland electronic) protocols.Discuss any adjustment to assaydata.	No verification of significant results hasbeen undertaken by independentpersonnel.NA to this announcement.Assay results were obtained from the labin raw data form and imported into thecompanies database.In order to generate the Soil Anomalyheat map in Mapinfo Discover, any resultsthat were too low for detection werechanged to 0 values so that the algorithmcould generate the raster file.
Location of data points	Accuracy and quality of surveysused to locate drill holes (collar anddown-hole surveys), trenches, mineworkings and other locations usedin Mineral Resource estimation.Specification of the grid systemused.Quality and adequacy oftopographic control.	Eastings & Northings of the sample siteswere recorded in the field using a handheld GPS.Grid system GDA 94 MGA Zone 50 wasused for recording the GPS data.NA to this announcement.
Data spacing and distribution	Data spacing for reporting of	Sample Soil samples were collected on a100m x 20m grid. EW sampling traverses

Criteria	JORC Code explanation	Commentary
	Exploration Results.Whether the data spacing, anddistribution is sufficient to establishthe degree of geological and gradecontinuity appropriate for theMineral Resource and Ore Reserveestimation procedure(s) andclassifications applied.	were 100m apart and the distancebetween samples on a traverse line was20m.Samples were collected for identificationof geochemical gold anomalies and areconsidered sufficient for a 1st phase ofarea reduction. The chosen sample grid issufficient to identify gold anomalies thatcan be reported as exploration results.The anomalies obtained by 100m x 20nsampling is considered sufficient forplanning of exploration drilling howeverin some cases they could be infilled to50m x 20m if more accurate definition ofthe drill targets is required.
	Whether sample compositing hasbeen applied.	NA to this announcement.
Orientation of data in relation togeological structure	Whether the orientation ofsampling achieves unbiasedsampling of possible structures andthe extent to which this is known,considering the deposit type.If the relationship between thedrilling orientation and theorientation of key mineralisedstructures is considered to haveintroduced a sampling bias, thisshould be assessed and reported ifmaterial.	Drilling Sampling traverses are distributedat 100m apart and oriented across thestrike of the main controlling structures.Distance between samples along thetraverses is 20m. This spacing is optimalfor detecting gold anomalies andassessing their spatial distribution thatmay reflect the shape and size of the anyburied mineralisation generating theanomaly.NA to this announcement.
Sample security	The measures taken to ensuresample security.	Samples were transported by companypersonnel direct to the Laboratory assoon as possible after sampling.
Audits or reviews	The results of any audits or reviewsof sampling techniques and data.	No audits or reviews of the MMIgeochemical data was undertaken. Thevalidation of the identified soil anomalieswill be carried out by AC or RC drilling totest the underlying bedrock for primarygold mineralisation.

Section 2: Reporting of Exploration Results

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

Criteria	JORC Code explanation	Commentary
Mineral tenement and landtenure status	Type, reference name/number,location and ownership includingagreements or materialissues with third parties such asjoint ventures, partnerships,overriding royalties, nativetitle interests, historical sites,wilderness or national park andenvironmental settings.The security of the tenure held atthe time of reporting along withany known impediments toobtaining a licence to operate inthe area.	Located 320km northeast of Perth in themid-west region of Western Australia.E 52/2390 and E52 /2426 are grantedtenements with a 100% interest acquiredby Surefire Resources NL under a saleagreement from the tenement holderBeau Resources Pty Ltd.A 2% Royalty on Gold production ispayable to Beau Resources Pty Ltd.
Exploration done by other parties	Acknowledgment and appraisal ofexploration by other parties.	Previous exploration work has beencompleted by Normandy and MonarchGold. Normandy work included aircoredrilling and limited RC drilling, includingat the Yidby Road Prospect. Drillingintersections in easterly oriented drillingwere followed up by Surefire usingwesterly oriented holes and theNormandy drilling was shown to bedrilled in the wrong orientation for theeasterly dipping mineralised structures.
Geology	Deposit type, geological settingand style of mineralisation.	Gold mineralisation at the project isorogenic, hosted within quartz veiningwith minor sulphides in ultramafic/maficlithologies and felsic porphyry intrusions.
Drill holeInformation	A summary of all informationmaterial to the understanding ofthe exploration results including atabulation of the followinginformation for all Material drillholes:easting and northing of the drillhole collarelevation or RL (Reduced Level -elevation above sea level inmetres) of the drill hole collar • dipand azimuth of the holedown hole length and interceptiondepth	NA to this announcement.All MMI sample data has been included inthis report while anomalous zones havebeen identified using target areapolygons.
	hole length.If the exclusion of this information

	is justified on the basis that theinformation is not Material andthis exclusion does not detractfrom the understanding of thereport, the Competent Personshould clearly explain why this isthe case.
Data aggregation methods	In reporting Exploration Results,weighting averaging techniques,maximum and/orminimum grade truncations (e.g.,cutting of high grades) and cut-offgrades are usually Material andshould be stated.Where aggregate interceptsincorporate short lengths of highgrade results and longer lengths oflow-grade results, the procedureused for such aggregation shouldbe stated and some typicalexamples of such aggregationsshould be shown in detail. Theassumptions used for any reportingof metal equivalent values shouldbe clearly stated.	NA to this announcement. The objectiveof the survey was to identify soil goldanomalies which have been reported inthis announcement.
Relationshipbetweenmineralisationwidthsandintercept lengths	These relationships are particularlyimportant in the reporting ofExploration Results.•If the geometry of themineralisation with respect to thedrill hole angle is known, its natureshould be reported.•If it is not known and only thedown hole lengths are reported,there should be a clear statementto this effect (e.g., 'down holelength, true width not known').	NA to this announcement.
Diagrams	Appropriate maps and sections(with scales) and tabulations ofintercepts should be included forany significant discovery beingreported These should include, butnot be limited to a plan view of drillhole collar locations andappropriate sectional views.	Drillhole locations and interpretedmineralisation outline is shown on Figure3.Appropriate representative cross sectionis shown on Figure 1 (6,751,750mN).Figure 2 is a longitudinal Projection of allpierce points to date.See Table 1, summary of drillingintersections and Table 2, drillholelocations and planned orientation.

Balanced reporting	Where comprehensive reporting ofall Exploration Results is notpracticable, representativereporting of both low and highgrades and/or widths should bepracticed to avoid misleadingreporting of Exploration Results.	This announcement reports results ongeochemical exploration and is made in aform of balanced reporting. The purposewas to present new geochemicalanomalies that were identified using theMMI protocol. The anomalies T1-T3represent follow up drill targets.
Othersubstantiveexploration data	Other exploration data, ifmeaningful and material, shouldbe reported including (but notlimited to): geologicalobservations; geophysical surveyresults; geochemical survey results;bulk samples – size and method oftreatment; metallurgical testresults; bulk density, groundwater,geotechnical and rockcharacteristics; potentialdeleterious or contaminatingsubstances.	NA to this announcement.
Further work	• The nature and scale of plannedfurther work (e.g., tests for lateralextensions or depth extensions orlarge-scale step-out drilling).Diagrams clearly highlighting theareas of possible extensions,including the main geologicalinterpretations and future drillingareas, provided this information isnot commercially sensitive.	T1-T3 will be drill tested using AC or RCdrilling in an EW fence linePlan view maps were included in thisannouncement for reference to thelocation and size of the soil anomalies.

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