SUREFIRE RESOURCES NL — Regulatory Filings 2021

May 4, 2021

YIDBY GOLD PROJECT

HIGHLIGHTS

MASSIVE GOLD INTERSECTIONS

• Up to 83m wide zone of gold mineralisation in Yidby Road Structure, with massive quartz-sulphide veining and felsic porphyry
• Assay results received from first 5 holes of 18 holes completed in current phase
• Increasing thickness and high-grades down plunge, open at depth and along strike

YBRC019		44m	@	2.77	g/t Aufrom	149m
				(or)
		32m	@		3.68 g/t AuFrom	150m
	Incl	3m	@	26.47	g/t Aufrom	150m
	Incl	5m	@	6.27	g/t Aufrom	177m
YBRC017		83m	@	0.64	g/t Aufrom	112m
	Incl	14m	@	2.09	g/t Aufrom	112m
	Incl	4m	@		6.31 g/t Aufrom	112m
	Incl	3m	@		4.15 g/t Aufrom	163m
YBRC013		19m	@	1.28	g/t Aufrom	84m
	Incl	2m	@	7.29	g/t Aufrom	84m
	Incl	2m	@		4.14 g/t Aufrom	101m
YBRC016		16m	@	0.88	g/t Aufrom	18m
	Incl	9m	@	1.44	g/t Aufrom	20m
	Incl	3m	@		3.25 g/t Aufrom	22m

Surefire Resources NL (ASX: SRN, "the Company" or "SRN") is pleased to announce new, thick and high-grade, gold intersections from the first 5 of 18 holes completed in the current phase of drilling at Yidby Road Gold Prospect ("Yidby Road", or "the Prospect"). Yidby Road is located on the Yidby Gold Project tenements, located in the highly prospective southwest Murchison Province of Western Australia (Figure 6).

This phase of the drilling program has so far included 18 drill holes for 2,791 metres and is designed to follow up and extend testing of the thick and high-grade mineralised zone previously intersected (SRN:ASX announcements 30 November 2020 & 15 December 2020).

The new results, from only the first 5 of 18 holes where assays have been received to date, include exceptionally thick intersections and high-grade gold assays associated with a northerly plunging shoot that appears to be thickening with depth (see Figure 1, Longitudinal projection and Figure's 2 and 3, cross sections through the mineralisation).

Results to come from the remaining 13 of 18 holes include thick intersections of quartzsulphide veining / felsic-porphyry on up to three bifurcating lode structures that converge at depth. All batches of samples have now been submitted for assay and further results will be received in the coming weeks, subject to high-volumes at the laboratory slowing turnaround.

Planned follow-up drilling will now test the thickening, high-grade, down-plunge extensions of these lode structures in order to further extend this burgeoning new gold discovery in the Murchison Province of the Yilgarn Craton of WA.

Figure 1: Yidby Road longitudinal Projection with new intersections down northerly plunging zone

Figure 2: Yidby Road cross-section 6,751,840mN with recent thick and high-grade intersections

Surefire Managing Director Vladimir Nikolaenko commented:

"These exceptional new intersections have extended the mineralised lode structures at depth and along strike to the north, and indicate increasing thickness and high-grades at depth.

"We eagerly await the results of the remaining holes that have also intersected multiple lode structures and indicate that we are on top of a large gold system.

"The next phase of drilling will continue testing along strike and at depth, where this exciting new discovery remains open."

Figure 3: Yidby Road cross-section 6,751,880mN with recent thick intersections and proposed drilling

The Yidby Road Drilling Program

This first phase of the current drilling program at Yidby Road was focused on extending the previously intersected zone that produced thick and relatively high-grade intersections that included, YBRC007: 56m @ 1.97 g/t Au from 44m including 4m @ 14.47 g/t Au and YBRC008: 40m @ 3.01 g/t Au from 24m including 4m @ 26.57 g/t Au (ASX: SRN 30 November 2020 and 15 December 2020), (Figure 1).

To date a total of 18 holes have been completed in this phase for 2,791m (see Figure 4 for drillhole locations), testing a northwest-southeast trending, east dipping, mineralised zone across the boundary between sheared ultramafic/mafic rocks and a large felsic "porphyry" intrusion.

The drilling has extended the mineralised zone both at depth and along strike of the previous intersections and remains open in all directions (see Figures 1 and 4).

Figure 4: Drillhole locations at Yidby Road on aerial photo with projected mineralisation

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 anomalous zone 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 (Figure 5). Further, aircore, drilling will be planned to test these regional targets.

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

Figure 5: Yidby detailed gravity & MMI anomalies with structural corridors & identified mineralisation

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 6).

Figure 6: Yidby Gold Project location on regional geology with major gold projects & mineral occurrences

Corporate

The company is in a sound financial position as disclosed in its recent March 2021 Quarterly Cash Flow Report, and has cash resources totalling $4.4M.

Prospect	Hole ID	Section	From	To	m	g/t Au
Yidby Road	YBRC013	6,751,810mN	84	103	19	1.282
	Including		84	86	2	7.294
	Including		101	103	2	4.144
Yidby Road	YBRC015	6,751,880mN	110	118	8	0.622
	Including		110	111	1	3.344
Yidby Road	YBRC017	6,751,880mN	112	195	83	0.641
	YBRC017		112	126	14	2.092
	Including		112	116	4	6.314
	YBRC017		163	186	23	0.741
	YBRC017		163	168	5	2.772
	Including		163	166	3	4.153
Yidby Road	YBRC019	6,751,840mN	149	193	44	2.772
	YBRC019		150	182	32	3.683
	Including		150	153	3	26.474
	YBRC019		168	182	14	2.623
	Including		177	182	5	6.274
Yidby Road	YBRC016	6,751,840mN	18	34	16	0.881
	YBRC016		20	29	9	1.442
	Including		20	25	5	2.353
	Including		22	25	3	3.254

Table 1: Significant Intersections in this release:

Lower cut-off grades for intersections:1>0.1 g/t Au cut-off, 2>0.3 g/t Au cut-off; 3>1.0 g/t Au cut-off; 4>2.0 g/t Au cut-off

Table 2: Drillhole locations and details in this release:

Hole ID	MGA_East*	MGA_North*	MGA_RL*	Collar Dip*	Collar Az.*	Depth
YBRC013	525,780	6,751,810	300	-60°	270°	138
YBRC014	525,785	6,751,840	300	-60°	270°	54
YBRC015	525,765	6,751,880	300	-55°	270°	150
YBRC016	525,724	6,751,840	300	-75°	270°	90
YBRC017	525,792	6,751,880	300	-60°	270°	198
YBRC019	525,806	6,751,840	300	-60°	270°	198
YBRC020	525,850	6,751,840	300	-56°	270°	216
YBRC021	525,811	6,751,845	300	-55°	270°	30
YBRC022	525,725	6,751,880	300	-60°	270°	180
YBRC023	525,810	6,751,810	300	-60°	270°	192
YBRC025	525,878	6,751,755	300	-60°	270°	222
YBRC026	525,850	6,751,780	300	-60°	270°	186
YBRC034	525,805	6,751,755	300	-60°	270°	114
YBRC035	525,855	6,751,755	300	-60°	270°	168
YBRC036	525,919	6,751,755	300	-60°	270°	246
YBRC037	525,870	6,751,725	300	-67°	270°	194
YBRC038	525,845	6,751,695	300	-60°	270°	86
YBRC039	525,888	6,751,700	300	-60°	270°	129
Total						2,791

*Hole positions and collar orientation subject to final surveys.

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.

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.	Reverse Circulation drilling was used toobtain 1m samples weighingapproximately 3kg from the splitter onthe cyclone and submitted to thelaboratory (Nagrom laboratories).The entire sample was crushed to -2mmthen either riffle-split then pulverised to95% passing 75 micron to produce a 50gcharge for Fire Assay gold (Au) analysis.Selected samples in zones of lowerprospectivity were composited to 4mafter the crushing stage at the lab before50g charge Fire Assay analysis. Wheregrades of >0.1 g/t Au are returned for thecomposite the individual 1m samples areassayed for that zone.
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).	Reverse Circulation drilling wascompleted using a face sampling hammer.
Drill sample recovery	Method of recording and assessingcore and chip sample recoveries and	RC drilling was bagged on 1m intervalsand an estimate of sample recovery has

Criteria	JORC Code explanation	Commentary
	results assessed.	been made on the size of each sample.
	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/coarsematerial.	The cyclone is shut off when collectingthe sample and released to the samplebags at the completion of each metre toensure no cross contamination. Ifnecessary, the cyclone is flushed out ifsticky clays are encountered.Samples were weighed at the laboratoryto allow comparative analysis.
Logging	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.	Geological logging was conducted per 1msample with lithologies and weatheringzones being documented throughout.Representative samples from the "greenbags" are sieved and in fresh rock,washed, and placed in chip trays for eachhole.
Sub-sampling techniques and	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.	Not applicable to this announcement
sample preparation		Every 1m RC interval was sampled as adry primary sample in a calico bag off thecyclone/splitter.
		Drill sample preparation and analysiscarried out at registered laboratory
	For all sample types, the nature,quality and appropriateness of thesample preparation technique.	(Nagrom Laboratories). Samplepreparation is dry pulverisation to 95%passing 75 microns.
	Quality control procedures adoptedfor all sub-sampling stages tomaximise samples representivity	Field sample procedures involve theinsertion of registered Standards andduplicates generally every 25m andoffset.
	Measures taken to ensure that thesampling is representative of the insitu material collected, including for	Sampling is carried out using standardprotocols as per industry practice.
	instance results for fieldduplicate/second-half sampling.	Sample sizes range typically from 2 to 3kgand are deemed appropriate to provide
	Whether sample sizes areappropriate to the grain size of thematerial being sampled.	an accurate indication of goldmineralisation.
Quality of assay data andlaboratory tests	The nature, quality andappropriateness of the assaying andlaboratory procedures used and	Gold assays at Nagrom Laboratories inPerth, WA, using a 50g charge for FireAssay gold (Au) total analysis.

Criteria	JORC Code explanationwhether 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.	CommentarySelected samples in zones of lowerprospectivity were composited to 4mafter the crushing stage at the lab before50g charge Fire Assay analysis. Wheregrades of >0.1 g/t Au are returned for thecomposite the individual 1m samples areassayed for that zone.Field sample procedures involve theinsertion of registered Standards andduplicates generally every 25m andoffset. Standards and duplicate assaysare also completed at the Lab.
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.	Selected intersections have beencalculated at various cut-off grades asshown in Table 1, including a 0.1g/tminimum cut-off for the "mineralisedenvelope" and including "economic" cutoff grades applicable to the significantintersections (e.g. 0.3 g/t Au, 1.0 g/t Au).Where internal waste is included theincluded zone must average above thestated cut-off grade to be across theadded interval.Geological and sample data was enteredinto spreadsheets on site and stored onthe Company's database.
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.	Siting of planned drillholes was completedusing a DGPS and adjusted with hand-heldGPS where necessary. Final collarlocations will be surveyed using DGPS,which will also provide topographic data.Grid system MGA 2020, Zone 50.Downhole surveys have been completedwhile drilling on recent deeper holesusing a REFLEX Gyro Tool. Open holesurveys will be completed on all previousand current holes not yet surveyed,subject to blockages downhole.
Data spacing and distribution	Data spacing for reporting ofExploration Results.Whether the data spacing, anddistribution is sufficient to establishthe degree of geological and grade	Sample data down hole is at no morethan 1m intervals (with selected intervalscomposited at the lab).Data spacing in terms of pierce pointsvaries from 25m to 100m from previous

Criteria	JORC Code explanation	Commentary
	continuity appropriate for theMineral Resource and Ore Reserveestimation procedure(s) andclassifications applied.	intersections. Assessment as to whethersufficient data has been generated toestablish the degree of geological andgrade continuity appropriate for (JORC2012) Mineral Resource estimationprocedure(s) is underway and, ifnecessary, additional drilling will becarried out to establish continuity.
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.	Drilling orientation is designed to test themineralisation at as close as possible toorthogonal to the mineralisation,therefore not biasing the sampling orintersection lengths.
	If the relationship between thedrilling orientation and theorientation of key mineralisedstructures is considered to haveintroduced a sampling bias, thisshould be assessed and reported ifmaterial.	All intersections are downhole widthswith the true widths not determined atthis early stage of exploration.
Sample security	The measures taken to ensuresample security.	Samples transported by Companypersonnel direct to the Laboratory assoon as possible after drilling.
Audits or reviews	The results of any audits or reviewsof sampling techniques and data.	A full review of QAQC data will becompleted once all results received.

Section 2: Reporting of Exploration Results

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

Mineral tenement and landtenure status	Type, reference name/number,	Located 320km northeast of Perth in themid-west region of Western Australia.
	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.	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hole length.If the exclusion of this information	Northing and easting data generally within5m accuracy using a GPS – with DGPSlocation planned.RL data +/-2mDown hole length =+- 0.2m.Location of new drillholes based onsurveyed sites, and DGPS, summarised inTable 2 and shown on Figures 1 and 2.Location of previous Drillholes based onhistorical reports and data, originallylocated on surveyed sites, and DGPS.Final Northing and Easting data of theCompany's drillholes determined usingDGPS generally within 0.1m accuracy. RL

	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 +/- 0.2m. Down hole length +/- 0.1m.Location of new drillholes shown in Table2. Coordinates are estimated based onplanned positions and will be updatedwhen DGPS data available. Figure 4 shows
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.	new and previous drillhole locations.Selected intersections have beencalculated at various cut-off grades asshown in Table 1, including a 0.1g/tminimum cut-off for the "mineralisedenvelope" and including "economic" cutoff grades applicable to the significantintersections (e.g. 0.3 g/t Au, 1.0 g/t Au).Where internal waste is included theincluded zone must average above thestated cut-off grade to be across theadded interval.No cutting of high-grades has been carriedout.
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').	Orientation of mineralised zones are stillto be determined in detail. All interceptsreported are downhole depths.
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 Figure4.Appropriate cross sections are shown onFigure 2 (6,751,840mN) and Figure 3(6,751,880mN).Figure 1 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.	See Table 1, summary of all drillingintersections and Table 2, drillholelocations and planned orientation.
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.	Geological interpretations are included onboth plan views (Figures 4 and 5),sectional view (Figures 2, 3), andlongitudinal view (Figure 1).No new exploration data has beengenerated apart from the drillinginformation included in this report.
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.	Follow up drilling will be planned once allresults are received.