TALGA GROUP LTD — Capital/Financing Update 2018

Oct 10, 2018

ASX Release 11 October 2018 ASX:TLG

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Swedish Cobalt Projects Update

Australian advanced materials technology company, Talga Resources Ltd (“ Talga ” or “ the Company ”) ( ASX:TLG ), is pleased to provide an update on activities and results from the Company’s 100% owned cobalt-copper-gold projects located in northern Sweden. Highlights of recent activities include:

KISKAMA PROJECT

• All necessary permitting obtained to commence diamond drilling as part of completing the maiden JORC compliant cobalt-copper-gold resource at Kiskama

• Geophysical surveys (IP and MLEM) commenced to define further extensions to known mineralisation and test high grade drill targets

• Project extended over prospective new targets including historic rock sample results up to 0.27% cobalt, 0.9% copper and 0.12g/t gold

LAUTAKOSKI PROJECT

• Drill core sampling extends ‘wildcat’ mineralised intercept to 91.8m @ 0.18% copper and 147ppm cobalt from 14m depth including 21m @ 0.34% copper and 182ppm cobalt (LAU16001R)

• Anomalous lead-zinc intercepted 2.5km north of the copper-cobalt mineralised zone, including 1.35m @ 1.6% zinc and 0.94% lead from 104m (LAU17003)

EAST AITIK PROJECT

• Talga rock samples return up to 4.8% copper, 1.2g/t gold, 66g/t silver, 0.6% molybdenum plus anomalous levels of tellurium and bismuth

CORPORATE

• Incorporation of 100% owned Swedish subsidiary - Talga Battery Metals AB - completed

• Meetings with potential cobalt customers in Europe and Asia commenced

Talga Managing Director Mark Thompson : “Activities at the Company’s four cobalt-copper-gold projects in Sweden have recommenced with the aim of realising the value opportunity created by growing market demand for responsibly sourced cobalt.

Whilst it is early days, the quantity and grades of cobalt on Talga’s projects are significant and highly encouraging, particularly given the nature of the wide and shallow zones and benefits of the presence of copper and gold credits. The potential of the projects is further enhanced by the close proximity to high-quality infrastructure and low-cost sustainable hydropower, as well as being situated in the same mining district as Europe’s largest copper-gold mine.

The upcoming resource drilling and on-going exploration activities are designed to increase value and assist in identifying the preferred commercialisation options for consideration by the Board. Further, Talga has started receiving interest from downstream battery manufacturers and customers, which may offer separate or parallel opportunities for development of these assets.”

Talga Resources Ltd ABN 32 138 405 419 ASX: TLG & TLGOA Germany: TGX USA: TLGRF 1st Floor, 2 Richardson St, West Perth 6005 Australia

• E: admin@talgaresources.com T: +61 8 9481 6667 F: +61 8 9322 1935 W: www.talgaresources.com

Page 1

Figure 1 Location map showing Talga’s copper-cobalt projects in northern Sweden.

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KISKAMA

Talga’s Kiskama Project, renowned as Sweden’s largest undeveloped deposit of cobalt, is located approximately 48km east of the town of Kiruna (see Figure 1). The polymetallic “IOCG” type cobalt (Co) – copper (Cu) – gold (Au) deposit is a 1.2km long mineralised zone, up to 40m wide and defined by 109 drillholes (105 historic holes 1972-80 and 4 Talga holes in 2014). A further 7km strike is yet to be comprehensively drill tested.

In July 2018 the Geological Survey of Sweden classified the Kiskama deposit to be of national interest for exploitation of minerals.

Resource Drilling Works Underway

All permits required to complete the next round of diamond drilling as part of estimating a maiden JORC 2012 mineral resource have been obtained. Talga has planned for 12 drillholes for twinning and infill of the 105 historical holes and Talga’s previous 4 holes for resource calculations. Further drill holes will be used to identify and explore potential structural controls, parallel zones and depth extensions. Drilling is expected to commence in November and the initial resource estimate is expected to be delivered by the end of the year.

The estimation of a JORC resource, with metallurgical data and a contained cobalt inventory, will enable a preliminary economic study and mining permitting to be completed, and form the basis for deeper engagement with stakeholders and potential customers.

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Figure 2 Map showing initial Leapfrog interpolated cobalt shells of the Kiskama deposit based on historic drillhole data, projected with surface topography, geology and structures. Drillhole traces are coloured by lithology. View looking North.

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Figure 3 Interpreted geology map of the wider Kiskama Project showing anomalously high cobalt values in soil sampling co-incident with structural targets (highlighted pink). The values highlight north-easterly trending parts of the fault network running NNE through the project area (part of the Karesuando-Arjeplog Deformation Zone). Blue dashed lines have been used to approximately indicate the linear continuity of these structural trends, including through the Kiskama orebody where there are no soil samples. Image: Outlier Geoscience Pty Ltd.

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Page 3

Geophysics Commenced

A geophysical campaign has commenced at Kiskama, consisting of Induced Polarisation (“IP”) and Moving Loop Electromagnetic (“MLEM”) with the aim of mapping out sulphide conductors, geological controls, and higher grade extensions.

This follows completion of new analysis of historic geophysical data, resulting in the identification of potential structural controls on mineralisation, coinciding with geochemical targets along strike of the currently drilled zone (See Figures 2 & 3).

Expansion

A further review of historical geochemical and geological data near the Kiskama deposit found significant copper, cobalt and gold mineralisation at several prospects based on historical drilling, geophysics and rock sampling.

An exploration permit was applied and granted over the Airivaara prospect (see Figure 1) where in 2001 rock samples of outcrops returned up to 0.27% Co, 0.9% Cu and 0.12g/t Au from a diopside-biotite rich unit within quartz-rich gneiss.

At the Äijäjärvi permit located approximately 5km south of Talga’s Nunasvaara graphite deposit, a number of historic copper prospects also prospective for cobalt are present. These include Östra Äijäjärvi where 12 diamond drillholes (see Appendix 3, Figure A) were completed by the geological survey of Sweden in 1967- 1969. Significant historical intercepts (see Appendix 3, Table 1 & 2) from Östra Äijäjärvi using a 0.35% Cu cut-off include:

• 15.5m @ 0.98% Cu from 51.3m (67001)

• 18.3m @ 0.69% Cu from 44.3m (67005)

• 11.3m @ 0.50% Cu from 107.9m (69002)

Significant historical intercepts from Östra Äijäjärvi using a 0.70% Cu cut-off include:

• 7.5m @ 1.57% Cu from 57.3m (67001)

• 5.6m @ 1.06% Cu from 44.3m (67005)

In addition to Östra Äijäjärvi there are four copper-molybdenum geochemical anomalies located further to the west (3-4km) at Äijärova and a 800x400m discrete slingram EM anomaly at Haurajärvi located 2km to the east, neither of which have been drill tested. The slingram EM anomaly at Haurajärvi lies coincident with a ring-shaped magnetic anomaly, and all the prospects are located on the peripheral margin of a granite body.

The new prospects add further size and scale potential to Kiskama, with the project area now totalling 41km2.

Figure 4 Drillcore from Talga’s Kiskama Project - Sweden’s largest undeveloped deposit of cobalt

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LAUTAKOSKI

Talga’s Lautakoski Project is located approximately 40km northwest of the town of Pajala in northeastern Sweden (see Figure 1). In 2016 Talga drilled a diamond hole (LAU16001) to test an electromagnetic (“EM”) anomaly, known as Conductor 1 (see ASX:TLG 6 Dec, 2016) for graphite.

The ‘wildcat’ drillhole, tens of kilometres away from any known mineralisation, intercepted a broad zone of copper-cobalt mineralisation within strongly altered and brecciated intermediate-mafic volcaniclastic units. Several thin and low grade graphite units were intercepted amongst the broader base metal mineralisation.

Figure 5 Map showing Talga drillholes on airborne electromagnetic imagery. Lautakoski Project.

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Figure 6 Lautakoski drillcore at 26m depth (LAU17001) showing disseminated copper-bearing sulphides in magnetite rock supporting breccia clasts with both vein and disseminated mineralisation.

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Drillhole Results

In July 2017, Talga completed four new diamond drillholes for a total of 560.9m. Three of the holes (see Figure 5) were designed to follow up the mineralisation intercepted in the 2016 wildcat drillhole (LAU16001) testing Conductor 1. Further, a single hole (LAU17003) tested an EM anomaly 2.5km to the north, called Conductor 2 (see ASX:TLG 6 Dec 2016). The drill core has now been comprehensively assayed and analysed with results as follows:

• LAU16001R

2016 wildcat drillhole LAU16001 was re-entered and extended to a depth of 210m broadening the zone of low-grade copper-cobalt mineralisation, resulting in an intercept of 91.8m @ 0.18% Cu and 147ppm Co from 14.20m, including a higher-grade zone of 21m @ 0.34% Cu and 182ppm Co from 85m reported from the drillhole. The bulk of the mineralisation in LAU16001R is hosted in skarn altered intermediate-mafic volcanoclastics and tuffaceous units, although the higher-grade zone appears to be hosted by a strongly potassium-feldspar altered felsic intrusive unit.

• LAU17001

Drillhole LAU17001 was a 50m step-out hole drilled to 199m before ending due to drilling difficulties within a shear zone. The drillhole intercepted a strongly structurally deformed or brecciated unit high in the hole before passing into lithologies similar to those intercepted in LAU16001R. Several narrow zones of weak copper-cobalt mineralisation were intercepted down to a depth of ~137m. From 156m a broader zone of weak copper-cobalt mineralisation was intercepted including 37m @ 0.12% Cu and 118ppm Co . The hole terminated within a graphite breccia unit prior to reaching the target depth of 300m.

• LAU17002

LAU17002 was a 50m step-out ‘scissor hole’ completed to a depth 122m and designed to advance the understanding of the geometry and orientation of both the lithologies and mineralisation. The upper part of LAU17002 intercepted similar geological units to those intercepted in LAU16001R and similar copper-cobalt grades, including an intercept of 47.33m @ 0.13% Cu and 148ppm Co from 11m. The latter half of the drillhole intercepted a broad zone of graphite breccia.

• LAU17003

Conductor 2, located 2.5km north of Conductor 1, was tested with a single drillhole (LAU17003) which was completed to a depth of 130m. Drillhole LAU17003 largely intercepted graphite breccia units interbedded with weakly skarn altered intermediate-mafic volcanoclastics and tuffaceous units before passing into a calcarenite unit. No significant copper-cobalt mineralisation was intercepted, although two narrow zones of lead-zinc mineralisation were intercepted within graphite breccia including an intercept of 1.35m @ 0.94% Pb and 1.6% Zn from 103.7m . The significance of the lead-zinc mineralisation is not yet known, although it is not uncommon for graphite units to contain base metal accumulations and and further work is planned to determine the importance of this intercept.

The broad width and consistent nature of copper and cobalt intercepted in the follow-up drilling at Lautakoski, combined with the amount of alteration (carbonate-k-feldspar-biotite-scapolite) and structural deformation (intense brecciation) of the host rocks provide encouragement that a significant mineralised system may be present at Conductor 1, or nearby. Given the broad zones of disseminated sulphide mineralisation, the Company is currently investigating the suitability of various geophysical techniques to identify new and test the known large number of EM conductors within the broader Lautakoski Project.

Successful definition work is likely to lead to drill testing in the preferred winter months (DecMarch), subject to the timing of any divestment decisions for Talga Battery Metals AB.

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Figure 7 Location map for the Aitik East Project showing significant rock chip assays from the Suorravaara and Vähävaara Prospects.

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AITIK EAST

Talga wholly owns three exploration permits over historic, but undrilled, occurrences of copper, gold, silver, molybdenum and lithium at the Aitik East Project, 25km east of Boliden’s Aitik Cu-Au mine (see Figure 7). Aitik is Europe’s largest base metal mine and mill processing facility with a 36Mt ore per annum capacity.

The Company completed first-pass reconnaissance mapping and sampling of two copper prospects and a lithium prospect late last year to verify the historically reported mineralisation and the samples have now been comprehensively assayed and analysed.

Surface Sampling Results

Rock chip samples from outcrop were collected across two separate copper prospects, Suorravaara and Vähävaara, located approximately 2.5km apart. At both prospects, visible copper-molybdenum mineralisation disseminated in outcropping quartz-biotite gneiss and in veins were identified. Vähävaara mineralisation comprises abundant visible bornite and molybdenite in addition to secondary azurite, malachite and possible chalcanthite (see Figure 8).

Significant assay results included:

• 4.8% Cu , 0.7g/t Au , 66g/t Ag , 0.3% Mo , 9.3ppm Te and 462ppm Bi (A24349)

• 3.3% Cu , 0.7g/t Au , 57g/t Ag , 0.6% Mo , 6.2ppm Te and 305ppm Bi (A24380)

• 2.8% Cu , 1.2g/t Au , 42g/t Ag , 0.6% Mo , 6.0ppm Te and 253ppm Bi (A24381)

• 2.2% Cu , 0.7g/t Au , 44g/t Ag , 0.5% Mo , 7.1ppm Te and 349ppm Bi (A24382)

At Suorravaara, the copper mineralisation is hosted in a quartz-biotite gneissic unit sitting directly beneath an overlying flat pegmatite sheet. The copper is largely present as azurite and malachite and rock chip results returned peak assay results of 0.57% Cu, 0.38g/t Au and 12.25g/t Ag (A24345).

Several grab rock samples of the outcropping, flat-lying pegmatite sheet confirmed lithium minerals were also present with peak assay returned of:

• 1,150ppm Li , 350ppm Cs , 48ppm Ta and 790ppm Rb (A24344)

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Figure 8 Left: Vähävaara rock sample showing copper sulphide (bornite). Centre: Vähävaara rock sample showing copper sulphate (chalcanthite). Right: Suorravaara rock sample showing lithium bearing minerals ‘watermelon’ tourmaline (elbaite) within lepidolite from the pegmatite.

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Conclusion and Next Steps

The initial results from the Aitik East Project have demonstrated that high grades of coppermolybdenum-gold-silver still outcrop in this under explored but highly prospective region. Although there is no significant cobalt in the samples to date, the high tenor of base and precious metal grades and trace elements (tellurium and bismuth) is highly encouraging. The proximity to the giant Aitik copper mine, and the nearby Boliden-owned Nautanen deposit to the northwest (indicated resource of 8.2Mt @ 1.7% CU, 0.9g/t Au, 5g/t Ag) add significant potential for a discovery within Talga’s Aitik East Project.

Next steps including surface/till geochemistry in addition to further mapping and sampling towards potential drill testing at the Aitik East Project are subject to the timing of any divestment decisions for Talga Battery Metals AB.

CORPORATE

As previously announced (see ASX:TLG 9 May 2018) Talga commenced an internal restructure of its assets, separating the Company’s suite of highly prospective cobalt and base metal projects (metals) from its graphene-graphite projects (carbons). With the incorporation of Talga Battery Metals AB now completed, the various non-graphite-graphene projects will be transferred into this wholly owned Swedish domiciled subsidiary.

Talga has received considerable interest in its cobalt assets from traders, end-users and battery makers seeking new sources of preferably responsibly sourced cobalt supplied from high quality jurisdictions. Discussions have commenced with several groups in Europe and Asia to assess their potential participation in future project development pathways.

For further information please contact:

Mark Thompson Managing Director Talga Resources Ltd T: + 61 (08) 9481 6667

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Competent Persons Statement

The information in this document that relates to exploration results is based on information compiled by Amanda Scott, a Competent Person who is a Member of the Australian Institute of Mining and Metallurgy (Membership No.990895). Amanda Scott is a full-time employee of Scott Geological AB. Amanda Scott has sufficient experience, which is relevant to the style of mineralisation and types of deposits under consideration and to the activity which has been undertaken to qualify as a Competent Person as defined in the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code). Amanda Scott consents to the inclusion in the report of the matters based on her information in the form and context in which it appears.

Forward-Looking Statements

This ASX release has been prepared by Talga Resources Ltd. This document contains background information about Talga Resources Limited and its related entities current at the date of this announcement. This is in summary form and does not purport to be all inclusive or complete. Recipients should conduct their own investigations and perform their own analysis in order to satisfy themselves as to the accuracy and completeness of the information, statements and opinions contained in this announcement. This announcement is for information purposes only. Neither this document nor the information contained in it constitutes an offer, invitation, solicitation or recommendation in relation to the purchase or sale of shares in any jurisdiction. This announcement may not be distributed in any jurisdiction except in accordance with the legal requirements applicable in such jurisdiction. Recipients should inform themselves of the restrictions that apply in their own jurisdiction. A failure to do so may result in a violation of securities laws in such jurisdiction. This document does not constitute investment advice and has been prepared without taking into account the recipient’s investment objectives, financial circumstances or particular needs and the opinions and recommendations in this representation are not intended to represent recommendations of particular investments to particular investments to particular persons.

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APPENDIX 1

Table 1: Detailed assay results from rock chip sampling from the Aitik East Project (Copper Prospects). Please refer to JORC Table, Sections 1 & 2 for assaying and sampling details.

Sample	Northing (RT90)	Easting (RT90)	Prospect	Au (ppm)	Ag (ppm)	Cu (ppm)	Mo (ppm)
A24345	7450560	1749695	Suorravaara Cu	0.38	12.25	5730 2.6
A24346	7450556	1749701	Suorravaara Cu	0.01	<0.01	5 1.97
A24347	7448141	1749114	Vähävaara	0.58	27.2	8770 3780
A24348	7448143	1749116	Vähävaara	<0.01	0.37	409 3.46
A24349	7448141	1749114	Vähävaara	0.65	66.1	47500 2520
A24380	7448136	1749123	Vähävaara	0.73	56.5	33200 6000
A24381	7448136	1749123	Vähävaara	1.2	42.4	28100 5880
A24382	7448136	1749123	Vähävaara	0.74	43.6	21800 4890

Table 2: Detailed assay results from rock chip sampling from the Aitik East Project (Lithium Prospect). Please refer to JORC Table, Sections 1 & 2 for assaying and sampling details.

Sample	Northing (RT90)	Easting (RT90)	Prospect	Li (ppm)	Cs (ppm)	Ta (ppm)	Rb (ppm)
A24342	7450516	1749632	Suorravaara Li	41.8	3.22	48.9 63.9
A24343	7450647	1749564	Suorravaara Li	44.2	14.3	7.66 370
A24344	7450818	1749520	Suorravaara Li	1150	350	48.1 790
A24366	7450658	1749547	Suorravaara Li	31.4	25.6	38.9 700
A24367	7450652	1749549	Suorravaara Li	38.2	15.6	57.9 550
A24368	7450651	1749548	Suorravaara Li	28.5	24.5	20.4 960
A24369	7450641	1749567	Suorravaara Li	64.8	33.7	15.15 1490
A24370	7450636	1749571	Suorravaara Li	49	23.6	4 840
A24371	7450814	1749517	Suorravaara Li	111.5	48.3	45.1 92.6
A24372	7450814	1749517	Suorravaara Li	412	90.5	>100 128
A24373	7450814	1749517	Suorravaara Li	470	130	84.4 251
A24374	7450845	1749526	Suorravaara Li	39.9	9	39 156
A24375	7450845	1749526	Suorravaara Li	40.1	65.3	4.2 1800
A24376	7450845	1749526	Suorravaara Li	37.4	63.8	7.1 1800
A24377	7448162	1749079	Suorravaara Li	162.5	15.25	6.37 317
A24378	7448774	1749085	Suorravaara Li	33.1	36.8	10.05 490
A24379	7448176	1749108	Suorravaara Li	192	18.9	20.2 353

APPENDIX 2

Table 1: Significant drillhole intercepts from diamond drilling at the Lautakoski Project*.

Hole		Intersection	Intersection		Mineralisation	Mineralisation	Mineralisation
Hole ID	From (m)	To (m)	Intercept Downhole (m)	Cu (%)	Co (ppm)	Pb (%)	Zn (%)
LAU16001R	14.20	106.00	91.80	0.18	147	‒ ‒
Inc.	85.00	106.00	21.00	0.34	182	‒ ‒
LAU16001R	141.98	146.00	4.02	0.12	58	‒ ‒
LAU16001R	167.00	175.00	8.00	0.21	71	‒ ‒
LAU16001R	189.00	195.00	6.00	0.12	76	‒ ‒
LAU17001	11.80	16.70	4.90	0.25	123	‒ ‒
LAU17001	61.00	74.00	13.00	0.11	55	‒ ‒
LAU17001	137.17	145.30	8.13	0.11	58	‒ ‒
LAU17001	156.00	193.00	37.00	0.12	118	‒ ‒
LAU17002	11.00	58.33	47.33	0.13	148	‒ ‒
Inc.	46.00	52.92	6.92	0.23	110	‒ ‒
	57.00	60.35	3.35	‒	‒	0.2 0.34
LAU17003	12.00	16.00	4.00	‒	‒	0.2 0.5
	103.70	105.05	1.35	‒	‒	0.94 1.6

• Note all intercepts are downhole widths and are not necessarily indicative of true width. Significant intercepts calculated using a 0.1%/1000ppm Cu, 0.1%/1000ppm Pb and 0.1%/1000ppm Zn lower cut-off grade and maximum internal dilution of approximately 5m. Please refer to JORC Table, Sections 1 & 2 for assaying and sampling details.

Table 2: Detailed assay results from diamond drilling at the Lautakoski Project. Significant intercepts calculated using a 1000ppm Cu, 1000ppm Pb and 1000ppm Zn lower cut-off grade. Note all intercepts are downhole widths and are not necessarily indicative of true width. Please refer to JORC Table, Sections 1 & 2 for assaying and sampling details. Note LAU16001 was drilled in 2016 and LAU16001R was drilled as a continuation of the same hole in 2017.

Hole		Intersection	Intersection			Mineralisation	Mineralisation
Hole ID	From (m)	To (m)	Intercept Downhole (m)	Cu (ppm)	Co (ppm)	Au (ppm)	Cg (%)	Pb (ppm)	Zn (ppm)
LAU16001	14.20	16.00	1.80	1490	32	0.02	4.08	5 55
LAU16001	16.00	17.78	1.78	734	68	0.04	5.04	11 41
LAU16001	17.78	19.00	1.22	1080	220	0.09	6.84	19 69
LAU16001	19.00	20.00	1.00	1340	122	0.04	3.1	17 94
LAU16001	20.00	21.00	1.00	1320	83	0.03	4.99	11 95
LAU16001	21.00	22.00	1.00	591	284	0.04	9.04	16 21
LAU16001	22.00	23.00	1.00	787	175	0.04	5.95	12 14
LAU16001	23.00	23.35	0.35	3590	166	0.03	4.4	6 112
LAU16001	23.35	24.00	0.65	382	96	0.01	0.26	22 28
LAU16001	24.00	25.50	1.50	1760	83	0.03	0.05	5 71
LAU16001	25.50	26.00	0.50	1240	48	0.01	<0.02	<2 173
LAU16001	26.00	27.00	1.00	750	32	0.01	NA	<2 179
LAU16001	27.00	28.00	1.00	1490	70	0.02	NA	<2 79
LAU16001	28.00	29.00	1.00	3470	54	0.04	NA	<2 43
LAU16001	29.00	30.00	1.00	680	67	0.02	NA	<2 66
LAU16001	30.00	31.00	1.00	1310	62	0.01	NA	<2 49
LAU16001	31.00	32.00	1.00	1600	62	0.03	NA	4 38
LAU16001	32.00	33.00	1.00	1550	67	<0.01	NA	3 41
LAU16001	33.00	34.00	1.00	884	191	0.03	NA	5 23

Hole		Intersection	Intersection			Mineralisation	Mineralisation
Hole ID	From (m)	To (m)	Intercept Downhole (m)	Cu (ppm)	Co (ppm)	Au (ppm)	Cg (%)	Pb (ppm)	Zn (ppm)
LAU16001	34.00	35.00	1.00	1240	97	0.01	NA	5 17
LAU16001	35.00	36.00	1.00	1250	120	0.02	NA	2 21
LAU16001	36.00	37.00	1.00	846	121	0.03	NA	2 11
LAU16001	37.00	38.00	1.00	2420	91	0.05	NA	<2 12
LAU16001	38.00	39.00	1.00	1350	145	0.01	NA	5 9
LAU16001	39.00	40.00	1.00	1170	191	0.03	NA	6 10
LAU16001	40.00	41.00	1.00	1120	177	0.02	NA	5 16
LAU16001	41.00	42.00	1.00	1520	142	<0.01	NA	<2 21
LAU16001	42.00	43.00	1.00	1110	141	<0.01	NA	5 22
LAU16001	43.00	44.00	1.00	1450	172	<0.01	NA	7 19
LAU16001	44.00	45.00	1.00	1520	190	<0.01	NA	9 18
LAU16001	45.00	46.00	1.00	1640	274	0.01	NA	6 26
LAU16001	46.00	47.00	1.00	1590	372	0.01	NA	6 21
LAU16001	47.00	48.00	1.00	1660	158	0.01	NA	7 19
LAU16001	48.00	49.00	1.00	795	64	0.01	NA	4 32
LAU16001	49.00	50.00	1.00	480	63	<0.01	NA	3 46
LAU16001	50.00	51.00	1.00	125	81	<0.01	NA	6 59
LAU16001	51.00	52.00	1.00	506	57	0.01	NA	<2 78
LAU16001	52.00	53.00	1.00	853	108	0.01	NA	<2 87
LAU16001	53.00	54.00	1.00	2680	139	0.02	NA	11 47
LAU16001	54.00	55.00	1.00	1700	91	0.02	NA	10 16
LAU16001	55.00	56.00	1.00	2120	99	0.03	NA	7 11
LAU16001	56.00	57.00	1.00	1530	75	0.02	NA	7 8
LAU16001	57.00	58.00	1.00	1970	184	0.04	NA	11 90
LAU16001	58.00	59.00	1.00	1830	279	0.05	NA	2 104
LAU16001	59.00	60.00	1.00	1780	137	0.04	NA	4 48
LAU16001	60.00	61.00	1.00	213	43	0.02	NA	6 93
LAU16001	61.00	62.00	1.00	1620	131	0.02	NA	11 102
LAU16001	62.00	63.00	1.00	2020	352	0.04	NA	8 123
LAU16001	63.00	64.00	1.00	926	87	0.03	NA	4 132
LAU16001	64.00	65.00	1.00	1370	156	0.03	NA	3 153
LAU16001	65.00	66.00	1.00	1820	221	0.04	NA	6 80
LAU16001	66.00	67.00	1.00	1710	175	0.03	NA	<2 50
LAU16001	67.00	68.00	1.00	1150	194	0.02	NA	4 87
LAU16001	68.00	69.00	1.00	943	174	0.03	NA	<2 83
LAU16001	69.00	70.00	1.00	1110	210	0.04	NA	<2 70
LAU16001	70.00	71.00	1.00	1450	254	0.04	NA	4 30
LAU16001	71.00	72.00	1.00	1210	220	0.03	NA	11 13
LAU16001	72.00	73.00	1.00	675	121	0.03	NA	2 24
LAU16001	73.00	74.00	1.00	1340	192	0.04	NA	7 40
LAU16001	74.00	75.00	1.00	1335	154	0.04	NA	7 40
LAU16001	75.00	76.00	1.00	1190	372	0.05	NA	4 34
LAU16001	76.00	77.00	1.00	2460	101	0.05	NA	7 34
LAU16001	77.00	78.00	1.00	1495	170	0.04	NA	<2 41
LAU16001	78.00	79.00	1.00	996	125	0.04	NA	<2 32
LAU16001	79.00	80.00	1.00	70	18	0.03	NA	<2 27
LAU16001	80.00	81.00	1.00	196	39	0.02	NA	<2 45
LAU16001	81.00	82.00	1.00	310	45	0.03	NA	5 42
LAU16001	82.00	83.00	1.00	1315	144	0.02	NA	<2 12
LAU16001	83.00	84.00	1.00	975	115	0.02	NA	7 21
LAU16001	84.00	85.00	1.00	871	92	0.03	NA	4 44

Hole		Intersection	Intersection			Mineralisation	Mineralisation
Hole ID	From (m)	To (m)	Intercept Downhole (m)	Cu (ppm)	Co (ppm)	Au (ppm)	Cg (%)	Pb (ppm)	Zn (ppm)
LAU16001	85.00	86.00	1.00	3130	180	0.04	NA	3 39
LAU16001	86.00	87.00	1.00	2030	137	0.03	NA	7 34
LAU16001	87.00	88.00	1.00	1260	114	0.02	NA	<2 27
LAU16001	88.00	89.30	1.30	1245	103	0.02	NA	<2 53
LAU16001	89.30	90.00	0.70	14850	288	0.27	NA	14 45
LAU16001	90.00	91.00	1.00	9110	428	0.2	NA	12 28
LAU16001	91.00	92.00	1.00	2860	378	0.04	NA	7 16
LAU16001	92.00	93.00	1.00	3280	286	0.06	NA	10 24
LAU16001	93.00	94.00	1.00	2030	86	0.06	NA	7 34
LAU16001	94.00	95.45	1.45	3870	195	0.12	NA	5 84
LAU16001	95.45	96.60	1.15	3130	565	0.06	NA	13 37
LAU16001	96.60	97.15	0.55	1480	197	0.01	NA	3 34
LAU16001	97.15	98.30	1.15	8350	158	0.19	NA	5 187
LAU16001	98.30	99.00	0.70	4990	255	0.19	NA	<2 30
LAU16001	99.00	100.00	1.00	2730	136	0.05	NA	13 11
LAU16001	100.00	101.00	1.00	727	80	0.01	NA	6 11
LAU16001R	101.00	102.20	1.20	929	54	<0.01	NA	2 15
LAU16001R	102.20	103.00	0.80	2410	25	<0.01	NA	2 30
LAU16001R	103.00	104.00	1.00	2280	57	0.01	NA	<2 30
LAU16001R	104.00	105.00	1.00	2620	68	0.03	NA	<2 31
LAU16001R	105.00	106.00	1.00	1360	52	<0.01	NA	<2 38
LAU16001R	141.98	143.00	1.02	1190	50	0.01	<0.02	3 16
LAU16001R	143.00	144.00	1.00	1220	71	0.01	0.05	5 11
LAU16001R	144.00	145.00	1.00	1250	66	0.02	0.24	<2 10
LAU16001R	145.00	146.00	1.00	1110	45	0.02	0.08	2 6
LAU16001R	167.00	169.00	2.00	1130	48	0.02	4.15	6 8
LAU16001R	169.00	171.00	2.00	792	34	0.02	6.02	8 6
LAU16001R	171.00	173.00	2.00	2330	143	0.09	6.12	44 34
LAU16001R	173.00	175.00	2.00	3970	58	0.07	7.08	71 33
LAU16001R	189.00	191.00	2.00	1430	82	0.03	2.07	64 79
LAU16001R	191.00	193.00	2.00	1050	95	0.03	1.01	26 32
LAU16001R	193.00	195.00	2.00	1260	52	0.02	1.13	5 4
LAU17001	11.80	13.00	1.20	3250	130	0.1	0.03	16 64
LAU17001	13.00	14.00	1.00	2610	125	0.08	0.02	15 72
LAU17001	14.00	15.00	1.00	2270	117	0.07	0.02	17 75
LAU17001	15.00	16.70	1.70	1980	120	0.07	0.02	9 158
LAU17001	61.00	62.00	1.00	1190	44	0.01	<0.02	8 18
LAU17001	62.00	63.60	1.60	699	20	0.02	<0.02	10 39
LAU17001	63.60	65.00	1.40	922	65	0.01	1.66	37 10
LAU17001	65.00	66.00	1.00	962	32	<0.01	3.28	24 10
LAU17001	66.00	67.00	1.00	1000	43	0.01	3.82	28 6
LAU17001	67.00	68.00	1.00	674	61	<0.01	0.29	12 9
LAU17001	68.00	69.00	1.00	1140	105	<0.01	<0.02	10 12
LAU17001	69.00	70.00	1.00	1220	71	<0.01	0.03	14 47
LAU17001	70.00	71.00	1.00	1830	111	0.03	4.21	47 5
LAU17001	71.00	72.00	1.00	1360	33	0.03	3.84	30 9

Hole		Intersection	Intersection			Mineralisation	Mineralisation
Hole ID	From (m)	To (m)	Intercept Downhole (m)	Cu (ppm)	Co (ppm)	Au (ppm)	Cg (%)	Pb (ppm)	Zn (ppm)
LAU17001	72.00	73.00	1.00	785	38	0.01	0.44	8 16
LAU17001	73.00	74.00	1.00	1080	54	0.02	<0.02	11 71
LAU17001	137.17	139.00	1.83	1020	34	<0.01	0.03	10 24
LAU17001	139.00	140.00	1.00	1250	47	0.05	2	494 761
LAU17001	140.00	141.00	1.00	962	58	0.05	1.77	42 28
LAU17001	141.00	142.00	1.00	1240	75	0.03	0.3	40 104
LAU17001	142.00	143.00	1.00	1120	94	0.01	0.02	9 64
LAU17001	143.00	144.00	1.00	986	46	0.02	0.21	29 71
LAU17001	144.00	145.30	1.30	1430	70	0.03	0.05	21 69
LAU17001	156.00	157.00	1.00	2340	85	0.02	0.02	4 57
LAU17001	157.00	158.00	1.00	1220	21	<0.01	0.03	5 54
LAU17001	158.00	159.00	1.00	639	18	<0.01	0.02	2 124
LAU17001	159.00	159.65	0.65	180	46	<0.01	<0.02	3 277
LAU17001	159.65	161.00	1.35	208	34	<0.01	0.02	6 88
LAU17001	161.00	162.00	1.00	554	115	<0.01	0.02	14 34
LAU17001	162.00	163.60	1.60	715	88	0.01	0.02	10 20
LAU17001	163.60	165.00	1.40	1640	293	0.03	1.83	154 271
LAU17001	165.00	166.00	1.00	2290	182	0.01	1.87	18 15
LAU17001	166.00	167.00	1.00	2370	153	0.03	0.14	19 84
LAU17001	167.00	168.00	1.00	3330	48	0.08	<0.02	21 23
LAU17001	168.00	169.00	1.00	1450	197	0.01	0.68	9 6
LAU17001	169.00	170.00	1.00	1470	99	0.03	5.25	16 8
LAU17001	170.00	171.00	1.00	1830	36	0.01	3.63	23 10
LAU17001	171.00	172.00	1.00	1120	77	0.03	4.75	25 8
LAU17001	172.00	173.00	1.00	1130	47	0.01	4.04	16 9
LAU17001	173.00	174.60	1.60	1750	84	<0.01	0.2	13 8
LAU17001	174.60	176.00	1.40	264	14	<0.01	<0.02	231 716
LAU17001	176.00	177.00	1.00	431	39	<0.01	<0.02	26 28
LAU17001	177.00	178.00	1.00	950	16	<0.01	<0.02	791 815
LAU17001	178.00	179.00	1.00	321	19	<0.01	<0.02	12 16
LAU17001	179.00	180.00	1.00	1170	149	<0.01	0.02	19 49
LAU17001	180.00	181.00	1.00	1520	94	0.01	<0.02	16 39
LAU17001	181.00	182.00	1.00	1370	72	<0.01	0.02	20 34
LAU17001	182.00	183.00	1.00	792	58	<0.01	0.03	16 15
LAU17001	183.00	184.00	1.00	1180	138	0.02	0.02	17 15
LAU17001	184.00	185.00	1.00	891	86	<0.01	0.02	9 13
LAU17001	185.00	186.00	1.00	746	253	0.01	0.04	24 11
LAU17001	186.00	187.00	1.00	1030	294	0.01	0.25	38 42
LAU17001	187.00	189.00	2.00	1770	159	0.02	0.29	30 26
LAU17001	189.00	190.00	1.00	1790	125	0.03	2.51	36 86
LAU17001	190.00	191.00	1.00	788	335	0.04	4	91 124
LAU17001	191.00	192.00	1.00	1320	220	0.02	6.28	26 48
LAU17001	192.00	193.00	1.00	1020	279	0.07	2.15	41 20
LAU17002	11.00	12.00	1.00	1660	104	0.03	0.05	15 129
LAU17002	12.00	13.00	1.00	867	78	0.02	<0.02	6 114
LAU17002	13.00	14.00	1.00	435	97	<0.01	0.03	5 84
LAU17002	14.00	15.00	1.00	491	93	<0.01	0.04	0 61
LAU17002	15.00	16.00	1.00	1620	222	<0.01	0.03	5 40

Hole		Intersection	Intersection			Mineralisation	Mineralisation
Hole ID	From (m)	To (m)	Intercept Downhole (m)	Cu (ppm)	Co (ppm)	Au (ppm)	Cg (%)	Pb (ppm)	Zn (ppm)
LAU17002	16.00	17.00	1.00	1260	257	<0.01	<0.02	4 51
LAU17002	17.00	18.00	1.00	1100	381	0.01	<0.02	5 36
LAU17002	18.00	19.00	1.00	420	139	<0.01	<0.02	7 33
LAU17002	19.00	20.00	1.00	253	51	<0.01	<0.02	3 42
LAU17002	20.00	21.00	1.00	805	228	<0.01	<0.02	11 26
LAU17002	21.00	22.00	1.00	727	133	<0.01	<0.02	620 634
LAU17002	22.00	23.00	1.00	353	64	<0.01	0.03	33 45
LAU17002	23.00	24.00	1.00	1510	220	0.01	<0.02	10 28
LAU17002	24.00	25.00	1.00	1500	214	<0.01	0.02	16 30
LAU17002	25.00	26.00	1.00	1030	139	<0.01	<0.02	1310 176
LAU17002	26.00	27.00	1.00	1300	267	0.01	<0.02	178 280
LAU17002	27.00	28.00	1.00	771	136	<0.01	0.02	7 32
LAU17002	28.00	29.00	1.00	1080	124	<0.01	<0.02	2 23
LAU17002	29.00	30.00	1.00	481	53	<0.01	<0.02	0 17
LAU17002	30.00	31.00	1.00	323	38	<0.01	0.02	4 21
LAU17002	31.00	31.57	0.57	823	85	0.01	<0.02	7 19
LAU17002	31.57	32.00	0.43	1750	173	0.04	0.02	4 14
LAU17002	32.00	33.00	1.00	2530	105	0.04	0.05	5 16
LAU17002	33.00	34.00	1.00	1470	100	0.04	0.05	6 12
LAU17002	34.00	35.00	1.00	1150	226	0.01	0.03	12 9
LAU17002	35.00	36.00	1.00	1690	133	0.01	<0.02	4 7
LAU17002	36.00	37.00	1.00	1050	192	0.01	<0.02	0 6
LAU17002	37.00	38.00	1.00	1770	98	0.01	<0.02	6 9
LAU17002	38.00	39.00	1.00	953	152	<0.01	<0.02	8 6
LAU17002	39.00	40.00	1.00	1380	332	<0.01	<0.02	5 6
LAU17002	40.00	41.00	1.00	2180	270	0.02	<0.02	12 10
LAU17002	41.00	42.00	1.00	2620	90	0.02	<0.02	6 16
LAU17002	42.00	43.00	1.00	2070	199	0.02	<0.02	8 19
LAU17002	43.00	44.00	1.00	1230	204	<0.01	<0.02	8 13
LAU17002	44.00	45.00	1.00	944	181	<0.01	<0.02	10 17
LAU17002	45.00	46.00	1.00	898	133	0.01	0.02	0 41
LAU17002	46.00	47.00	1.00	1190	49	0.01	0.02	6 40
LAU17002	47.00	48.00	1.00	4230	146	0.04	<0.02	6 27
LAU17002	48.00	49.00	1.00	1070	256	0.05	<0.02	6 60
LAU17002	49.00	50.00	1.00	2420	79	0.03	0.02	2 59
LAU17002	50.00	51.00	1.00	1270	74	<0.01	0.02	0 21
LAU17002	51.00	52.00	1.00	2230	95	<0.01	0.07	11 13
LAU17002	52.00	52.92	0.92	4180	71	0.02	5.14	14 11
LAU17002	52.92	54.00	1.08	406	25	<0.01	0.15	6 12
LAU17002	54.00	55.00	1.00	355	11	<0.01	0.02	12 25
LAU17002	55.00	56.00	1.00	111	8	<0.01	<0.02	10 19
LAU17002	56.00	57.00	1.00	1250	244	0.03	7.67	18 12
LAU17002	57.00	58.33	1.33	1530	280	0.03	4.19	1480 2260
LAU17002	58.33	59.35	1.02	933	36	<0.01	0.33	2560 4770
LAU17002	59.35	60.35	1.00	719	46	<0.01	0.02	2240 3670
LAU17003	12	14	2	80	20	<0.01	1.09	3300 8510
LAU17003	14	16	2	93	30	<0.01	1.79	640 1440
LAU17003	103.7	105.05	1.35	460	26	<0.01	2.66	9430 16000

Table 3: Diamond drillhole collar summary for Lautakoski. All coordinates are in Swedish Grid SWEREF TM99 and have been located with a hand-held GPS. Drill dimension for all holes is WL66. All drillholes have been downhole surveyed.

		SWEREF 99TM	SWEREF 99TM	SWEREF 99TM
Hole ID	Project	Prospect	Northing	Easting	Dip	Azi	EOH Depth
LAU16001R	Lautakoski	Conductor 1	7489071	820366	-50	230 210.2
LAU17001	Lautakoski	Conductor 1	7489100	820400	-50	230 199.2
LAU17002	Lautakoski	Conductor 1	7489040	820330	-50	70 121.8
LAU17003	Lautakoski	Conductor 2	7490500	820575	-50	90 130.7

APPENDIX 3

Table 1: Significant drillhole intercepts from historic diamond drilling at the Äijäjärvi Östra Prospect calculated using a 0.35% Cu cut-off grade.

Hole		Intersection	Intersection		Mineralisation	Mineralisation	Mineralisation
Hole ID	From(m)	To(m)	Intercept Downhole(m)	Cu(%)	Zn( %)	Pb(%)	S(%)
67001	51.33	66.86	15.53	0.98	‒	‒ 10.9
67005	44.27	62.58	18.31	0.69	0.06	0.03 11.4
69002	107.85	119.15	11.30	0.50	‒	‒ 9.9

Table 2: Significant drillhole intercepts from historic diamond drilling at the Äijäjärvi Östra Prospect calculated using a 0.7% Cu cut-off grade.

Hole		Intersection	Intersection	Mineralisation	Mineralisation
Hole ID	From(m)	To(m)	Intercept Downhole(m)	Cu(%)	Zn(%)	Pb(%)	S(%)
67001	57.29	64.76	7.47	1.57	‒	‒ 11.8
67005	46.82	52.44	5.62	1.06	‒	‒ 10.9

Table 3: Diamond drillhole collar summary for Äijäjärvi Östra. All coordinates are in Swedish Grid SWEREF TM99.

Drillhole	Prospect	Drillyear	Northing (SWEREF)	Easting (SWEREF)	From	To	EOH	Dip	Azi
67001	Äijäjärvi Östra	1967	7519577.806	771660.6382	4.89	123.75	118.86	60	40
67002	Äijäjärvi Östra	1967	7519505.704	771805.5626	7.19	131.92	124.73	60	40
67003	Äijäjärvi Östra	1967	7519528.28	771773.2717	5.77	120.98	115.21	60	40
67004	Äijäjärvi Östra	1967	7519609.458	771634.2283	5.17	113.12	107.95	60	40
67005	Äijäjärvi Östra	1967	7519641.098	771606.8187	5.49	76.26	70.77	60	40
67006	Äijäjärvi Östra	1967	7519542.116	771684.101	4.57	124.04	119.47	60	40
68001 A	Äijäjärvi Östra	1968	7519549.54	771640.009	3.77	15.32	11.55	60	40
68001 B	Äijäjärvi Östra	1968	7519549.54	771640.009	3.67	151.28	147.61	60	40
68002	Äijäjärvi Östra	1968	7519472.4	771781.9994	9.07	149.18	140.11	60	40
68003	Äijäjärvi Östra	1968	7519519.553	771717.3916	5.32	150.14	144.82	60	40
68004	Äijäjärvi Östra	1968	7519651.56	771565.6867	5.72	140.16	134.44	60	40
69001	Äijäjärvi Östra	1969	7519573.116	771607.705	3.39	187.9	184.51	60	40
69002	Äijäjärvi Östra	1969	7519595.693	771575.4142	4.35	165.78	161.43	60	40

Figure A: Drillhole location map for historical drilling at the Äijäjärvi Östra Prospect. Background imagery is surface slingram (real component).

==> picture [465 x 243] intentionally omitted <==

JORC CODE 2012 EDITION Section 1 Sampling Techniques and Data

Criteria	JORC Code Explanation	Commentary
Sampling techniques	• Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as downhole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. Aspects of the determination of mineralisation that are Material to the Public Report. • In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30g charge for fire assay’). In other cases, more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information.	• TALGA DIAMOND DRILLING • Sampling method is half-core sampling of WL66 diamond drill core. Quarter-core sampling utilised where a duplicate sample has been taken. • Sampling was carried out under Talga’s’ sampling protocols and QAQC procedures as per industry best practice. • Diamond drilling completed using WL66 coring equipment. Drillholes have been sampled on geological intervals or nominal 1m or 2m intervals where appropriate (approx. 3kg/sample). All samples have been crushed, dried and pulverised (total prep) to produce a sub sample for multi-element analysis by four acid digest with ICPMS/OES, total graphitic carbon by Leco and fire assay and AAS for gold. • HISTORIC DIAMOND DRILLING • The diamond drillholes were sampled based on observed copper mineralisation. • Historic SGU holes, likely WL46 with core diameter of 35mm, were half-cut by hand and chisel and sampled over varying intervals. Samples were assayed for S, Cu, Zn, Pb, As, Bi, Mo, Sn, Ag, Au, Fe, Co, Ni, Mn via an unknown method. • TALGA ROCK CHIP SAMPLING • Rock chip samples taken from both outcrop and historic trench mullock dumps. • Samples with mineralisation observed in hand specimen were preferentially sampled so some sample bias may have been introduced.
Drilling techniques	• Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face- sampling bit or other type, whether core is oriented and if so, by what method, etc.).	• TALGA DIAMOND DRILLING • Diamond drilling completed by Northdrill Oy from Finland. • Diamond drilling completed using WL66 core drilling equipment. • Drillcore was not orientated. • Downhole surveying completed using a Reflex EZTrac survey instrument. • HISTORIC DIAMOND DRILLING • Historic SGU holes likely WL46 conventional diamond drilling with core diameter of 35mm. • TALGA ROCK CHIP SAMPLING • N/A
Drill sample recovery	• Method of recording and assessing core and chip sample recoveries and results assessed. • Measures taken to maximise sample recovery and ensure representative nature of the samples. • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	• TALGA DIAMOND DRILLING • Core recoveries are measured by the drillers for every drill run. The core length recovered is physically measured for each run, recorded and used to calculate the core recovery as a percentage of core recovered. Any core loss is recorded on a core block by the drillers. • No additional measures have been taken to maximise sample recovery. • A sampling bias has not been determined. • HISTORIC DIAMOND DRILLING • For historic SGU drillholes, core recovery was recorded by the geologists logging the core. • Insufficient data exists for the historic SGU drilling to determine a specific sample bias. • TALGA ROCK CHIP SAMPLING • N/A
Logging	• Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography. • The total length and percentage of the relevant intersections logged.	• TALGA DIAMOND DRILLING • All drillcore has been transported from the drill sites to the SGU Core Archive located in Malå for cleaning, reconnection of core lengths and measurement of metre marks where required, over the entire hole. • Geological logging has been completed on the entire length of all holes by Amanda Scott, Talga’s Exploration Manager, who has significant experience in this style of exploration. • The lithological, alteration and structural characteristic of the core are logged in digital format and following established procedures. • All drillholes are photographed.

		• HISTORIC DIAMOND DRILLING • For SGU historic drillholes, geological logging was conducted to a reasonable standard noting alteration, structures, lithology, mineralisation and core loss. SG measurements were also completed. • Diamond core logging is primarily a qualitative activity with pertinent relevant features recorded: lithology, mineralogy, mineralisation, structural, weathering, alteration, colour and other features of the samples. • All drillholes were logged. • TALGA ROCK CHIP SAMPLING • A short geological description of each samples was taken at the time of collection. • The descriptions are qualitative: lithology, alteration, mineralisation etc. • All samples are photographed.
Sub- sampling techniques and sample preparation	• If core, whether cut or sawn and whether quarter, half or all core taken. • If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry. • For all sample types, the nature, quality and appropriateness of the sample preparation technique. • Quality control procedures adopted for all sub- sampling stages to maximise representivity of samples. • Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling. • Whether sample sizes are appropriate to the grain size of the material being sampled.	• TALGA DIAMOND DRILLING • All samples delivered to ALS Global in Malå where the core was cut and sampled. • All samples are half-core except for duplicate samples in which case quarter-core samples have been taken. • The sample preparation follows industry best practice sample preparation; the samples are finely crushed with 70% passing <2mm then reduced in a splitter whereby a reject sample and a 250g sample is produced. The 250g sample is then pulverised with 85% passing <75 microns which completely homogenises the sample. A sub-sample of pulp is taken for digestion in a four-acid digest, total graphitic carbon and fire assay for gold. • Duplicate sampling has been completed at a rate of 1:40 where practicable; duplicate results for all holes are satisfactory. • Certified reference material standards and blanks have been inserted at a rate of 1:20 where practicable; standard and blank results for all holes are within accepted limits. • The sample sizes are considered appropriate for the type of mineralisation under consideration. • HISTORIC DIAMOND DRILLING • For historical SGU drillholes, core was half-cut by hand and chisel and sampled at varying sample widths generally to mineralisation or geological boundaries. Samples were assayed for S, Cu, Zn, Pb, As, Bi, Mo, Sn, Ag, Au, Fe, Co, Ni, Mn via an unknown method at the SGU laboratory in Stockholm. No other information regarding sample preparation or quality control procedures in known. • Sampling to geological/mineralisation boundaries is considered to be appropriate. • TALGA ROCK CHIP SAMPLING • Samples were hammered off outcrop and mullock dump material using a rock hammer. Sample size varied but averaged 1-2kg. • The samples are considered point samples and may be biased towards mineralised samples. • The size of the samples is considered appropriate for this type of work. • No field duplicates were taken. • The sample preparation for all samples followed industry best practice and was undertaken by ALS Global in Malå. The samples were dried and pulverised to produce a sub-sample for analysis. Sample preparation involved oven drying, coarse crushing, followed by total pulverisation LM2 grinding mills to a grind size of 85% passing 75 microns.
Quality of assay data and laboratory tests	• The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. • For geophysical tools, spectrometers, handheld XRF instruments, etc., the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. • Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.	• TALGA DIAMOND DRILLING • All samples are assayed using a four-acid digest multi- element suite (33 elements) with ICPOES or ICPMS finish. The acids used are hydrofluoric, nitric, hydrochloric and perchloric with the method approaching near total digest for most elements. • Selected samples are assayed for total graphitic carbon via Leco furnace. Graphitic carbon is determined by digesting the sample in 50% HCl to evolve carbonate as CO2. Residue is filtered, washed, dried and then roasted at 425⁰C. The roasted residue is analysed for C by high temperature Leco furnace with infrared detection.

		• All samples are assayed for gold by firing a 25g sample with an AAS finish. Samples with a high carbon content are pre-roasted to 700°C prior to analysis for gold. • The analytical methods are considered appropriate for this style of mineralisation. • No geophysical tools or handheld instruments were utilised in the preparation of this release. • Duplicate sampling has been completed at a rate of 1:40 where practicable; duplicate results for all holes are satisfactory. • Certified reference material standards and blanks have been inserted at a rate of 1:20; standard and blank results for all holes are within accepted limits. • Laboratory QAQC methods include the insertion of certified reference material standards, blanks, and duplicates. • HISTORIC DIAMOND DRILLING • For historical SGU drillholes, the exact method used to determine each element is not known so no comment can be made as to its appropriateness. • No geophysical tools were used to determine any element concentrations. • For historical SGU drillholes, no known QAQC procedures were utilised so no comment can be made as to its accuracy or appropriateness. • TALGA ROCK CHIP SAMPLING • All samples were assayed using a four-acid digest, multi-element suite (48 elements) with ICPMS finish. The acids used were hydrofluoric, nitric, hydrochloric and perchloric with the method approaching near total digest for most elements. • All samples were assayed for gold by firing a 30g sample with an AAS finish. • The analytical methods are considered appropriate for this style of mineralisation. • No geophysical tools or handheld instruments were utilised in the preparation of this release. • Lab repeat or duplicate analysis for samples showed that the precision of samples were within acceptable limits.
Verification of sampling and assaying	• The verification of significant intersections by either independent or alternative company personnel. • The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Discuss any adjustment to assay data.	• TALGA DIAMOND DRILLING • Determination of the reported downhole interval of mineralisation has been verified by alternative company personnel both in person and via electronic photographic data. • No twin-hole drilling completed to date although one scissor hole (LAU17002) has been completed and showed relatively good correlation to drillhole LAU16001. It is believed that the strong structural complexity of the intercepted lithologies may account for incomplete correlation seen in the bottom of drillhole LAU17002 where it intercepted drillhole LAU17001. • All geological and location data is currently stored in Excel spreadsheets. Data entry has been by manual input and validation of the small amount of data has been done by checking input on screen prior to saving. • No adjustments or calibrations were made to any assay data used in this report. • HISTORIC DIAMOND DRILLING • Talga has not completed re-assaying of the historical SGU drillholes at this stage. • No adjustments or calibrations were made to any of the historical drill intercepts reported in the document. • TALGA ROCK CHIP SAMPLING • No independent third-party assaying or sampling has been undertaken at this stage. Results have been reviewed internally by the company’s exploration manager Ms Amanda Scott and no issues have been identified. • Sampling data was captured digitally and is stored on the company’s data server. Laboratory data is also stored on the company’s data server. • No adjustments or calibrations were made to any assay data used in this report.
Location of data points	• Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. • Specification of the grid system used.	• TALGA DIAMOND DRILLING • Drillhole locations have been planned using a combination of GIS software packages. • Drillhole locations have been determined using a Garmin handheld GPS unit with an accuracy of +/- 1m.

	• Quality and adequacy of topographic control.	Drill azimuths were laid-out with a hand-held Suunto compass that has a precision of +/- 0.5 degrees. • Downhole surveys have been completed using a Reflex EZTrac downhole survey instrument at regular intervals. • Grid system is Swedish Coordinate system SWEREF99. • Topographic control has been established by handheld GPS and cross-correlation with digital laser topographic imagery and is considered and is adequate for the greenfields exploration completed. • HISTORIC DIAMOND DRILLING • For the historic SGU drillholes the ‘Bpf’ local grid was used. Historic drillhole collars and geophysical data has subsequently been transformed by the SGU into Swedish Coordinate System SWEREF TM 99 and RT 90. • Talga has not completed a collar pick-up of the historic SGU drillholes at this stage. • TALGA ROCK CHIP SAMPLING • A Garmin handheld GPS unit with an accuracy of +/- 1m was used to locate each sample. • Sample locations are presented in Appendix 1, Tables 1 and 2 using the Swedish Coordinate System ‘RT90 2.5 Standard’.
Data spacing and distribution	• Data spacing for reporting of Exploration Results. • Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. • Whether sample compositing has been applied.	• TALGA DIAMOND DRILLING • The current data spacing or drill profile separation is approximately 50m. • The data spacing and distribution is considered sufficient to establish a relatively good degree of geological and grade continuity which is considered adequate for the greenfields exploration completed. • No sample compositing has been applied. • HISTORIC DIAMOND DRILLING • Drill hole is typically at 50x50m over the main mineralised zone at Äijäjärvi Östra. • The existing drill density is sufficient enough to give a good understanding of how the mineralisation hangs together both within the drill profiles and along strike. To date economic mineralisation at Äijäjärvi Östra has been encountered over a strike length of approximately 280m. SGU completed an internal mineral resource estimate for the deposit. • No sample compositing has been completed • TALGA ROCK CHIP SAMPLING • Samples were taken at non-regular intervals according to observations made at the time in the field.
Orientation of data in relation to geological structure	• Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. • If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	• TALGA DIAMOND DRILLING • The orientation is considered appropriate for the sampling completed, with the drill holes drilled perpendicular to the interpreted strike of the geophysical anomalies and likely mineralisation. • The reported mineralised intercepts are downhole widths and are not true widths. The intercepts reported may not represent the true width and should be taken within the context described in the preceding point. • No sample bias as a consequence of orientation-based sampling has been identified. • HISTORIC DIAMOND DRILLING • The orientation is considered appropriate for the sampling completed, with the drill holes drilled perpendicular to the interpreted strike of the geophysical anomaly and likely mineralisation. • No sample bias as a consequence of orientation based sampling has been identified. • TALGA ROCK CHIP SAMPLING • Samples were taken according to observations made at the time in the field. • No sample bias as a consequence of_orientation-based_ sampling has been identified. • Samples with mineralisation observed in hand specimen were preferentially sampled so some sample bias may have been introduced.
Sample security	• The measures taken to ensure sample security.	• TALGA DIAMOND DRILLING • All drill core transport and logging has been completed by Amanda Scott, Talga’s Exploration Manager. All holes are stored in a locked facility.

		• HISTORIC DIAMOND DRILLING • For historical SGU drillholes, sample security measures are not known. • TALGA ROCK CHIP SAMPLING • Samples were collected and transported to the laboratory by Amanda Scott, Talga’s Exploration Manager.
Audits or reviews	• The results of any audits or reviews of sampling techniques and data.	• TALGA DIAMOND DRILLING • No external audits or reviews of the sampling techniques and data have been completed to date. Results have been reviewed internally by the company’s exploration manager Ms Amanda Scott and no issues have been identified. • HISTORIC DIAMOND DRILLING • Talga has completed a high-level review of the historic data including the digitization and validation of the historic drillhole data. No material issues with the drillhole data has been identified to date. • TALGA ROCK CHIP SAMPLING • No external audits or reviews of the sampling techniques and data have been completed to date. Results have been reviewed internally by the company’s exploration manager Ms Amanda Scott and no issues have been identified.

Section 2 Reporting of Exploration Results

Criteria	JORC Code explanation	Commentary
Mineral tenement and land tenure status	• Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. • The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	• TALGA DIAMOND DRILLING • The drilling that is the subject of this report is located within exploration licence Lautakoski nr 2 owned 100% by the Company’s Swedish subsidiary, Talga Mining Pty Ltd Filial Sweden. • The licences are wholly owned by the Company and are predominantly located in a low lying forested area. The area is used for seasonal grazing by local indigenous Sami reindeer herders. • The licences are in good standing with no known impediments. • HISTORIC DIAMOND DRILLING • The historic SGU drilling that is the subject of this report is located within exploration licence Vittangi nr 3 owned 100% by the Company’s Swedish subsidiary, Talga Battery Minerals AB. • The licences are wholly owned by the Company and are predominantly located in a low-lying forested area. The area is used for seasonal grazing by local indigenous Sami reindeer herders. • The licences are in good standing with no known impediments. • TALGA ROCK CHIP SAMPLING • The Aitik East Project comprises exploration licences Suorravaara nr 2, 3, and 4 owned 100% by the Company’s Swedish subsidiary, Talga Mining Pty Ltd Filial Sweden. • The licences are located in an area used for seasonal grazing by local indigenous Sami reindeer herders. • The licences are in good standing with no known impediments.
Exploration done by other parties	• Acknowledgment and appraisal of exploration by other parties.	• TALGA DIAMOND DRILLING • The mineralisation at Lautakoski was discovered by Talga in 2016. • HISTORIC DIAMOND DRILLING • The mineralisation at Äijäjärvi Östra was first discovered in 1960 by SGU. During the following years SGU completed surface geophysics, diamond drilling and a mineral resource estimate. • TALGA ROCK CHIP SAMPLING • Historic rock chip sampling was completed by Boliden. • More recently the ground at Aitik East has been held by Phelps Dodge Exploration in 2003 and by Norsve Resources PLC in 2012 but it is not known what exploration work was completed by either company.
Geology	• Deposit type, geological setting and style of mineralisation.	• TALGA DIAMOND DRILLING • The Cu-Co-Au mineralisation at Lautakoski is hosted in intensely altered (K-feldspar, scapolite, silica, albite) and structurally deformed intermediate-mafic volcanoclastic and tuffaceous sediments. Cobalt, gold and molybdenum mineralisation is broadly co-incident with the copper mineralisation. • Geological evaluation by Talga is ongoing. • HISTORIC DIAMOND DRILLING • The copper mineralisation at Äijäjärvi Östra is comprised largely of chalcopyrite and minor amounts of pyrite and other miner ore minerals. The mineralisation comprises two lenses hosted in quartzite. • Geological evaluation by Talga is ongoing. • TALGA ROCK CHIP SAMPLING • The copper mineralisation at Aitik East has been described as bornite, azurite, malachite, chalcopyrite and chalcocite and minor molybdenite hosted within intermediate volcanic porphyries, volcanoclastics and agglomerates. The reported lithium (lepidolite) mineralisation is hosted within tourmaline-bearing (elbaite) pegmatites within the volcanic host rocks. • Geological evaluation by Talga is ongoing.
Drill hole Information	• A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: o easting and northing of the drill hole collar o elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar o dip and azimuth of the hole	• TALGA DIAMOND DRILLING • Drill hole locations and appropriate information are shown in the figures and tables in the text of this report. Appropriate maps and plans also accompany this announcement. • HISTORIC DIAMOND DRILLING • Drill hole locations and appropriate information are shown in the figures and tables in the text of this report.

	o down hole length and interception depth o hole length. • If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	• TALGA ROCK CHIP SAMPLING • N/A
Data aggregation methods	• In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated. • Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. • The assumptions used for any reporting of metal equivalent values should be clearly stated.	• TALGA DIAMOND DRILLING • For this report a nominal lower cut of 0.1% Cu, 0.01% Pb and 0.1% Zn have been used. • Length-weighted averaging has been used to calculate all intercepts in this report. Length-weighted averaging has been used given that sampling intervals were determined geologically and not always nominally. • For all intercepts presented in this report, on cross- sections and tables a maximum_copper_internal dilution of approximately 5m was used. • The copper assays are generally quite consistent throughout the intercepts although the sometimes heterogeneous nature of the mineralisation means that occasionally high-grade values may be diluted by low grade values within the same intercept. • No top cuts have been applied. • No metal equivalent values have been used. • HISTORIC DIAMOND DRILLING • Historic reported drill intercepts used a combination of a 0.35% Cu cut-off and a 0.7% Cu cut-off using length- weighted averaging. • No aggregations applied. • No top cuts applied. • No metal equivalents used. • TALGA ROCK CHIP SAMPLING • No aggregations applied. • No metal equivalents applied.
Relationshi p between mineralisati on widths and intercept lengths	• These relationships are particularly important in the reporting of Exploration Results. • If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. • If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’).	• TALGA DIAMOND DRILLING • The orientation or geometry of the mineralised zone at Lautakoski is not currently fully understood. All drillholes used have been drilled perpendicular to the strike of the geophysical anomaly. The strong structural deformation of the lithologies intercepted to date and the current drill spacing of 50m has not enabled a definitive relationship to be drawn between mineralisation and the intercept lengths as yet. • All intercepts reported are downhole widths, true widths are not yet known. • HISTORIC DIAMOND DRILLING • The orientation or geometry of the copper mineralised zone at Äijäjärvi Östra is quite well understood. All drillholes used have been drilled perpendicular to the strike of the geophysical anomaly and known mineralisation. • All intercepts reported are downhole widths, true widths are not yet known. • TALGA ROCK CHIP SAMPLING • The orientation or geometry of the mineralised zones at Aitik East is not yet known. • No drilling completed to date.
Diagrams	• Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	• TALGA DIAMOND DRILLING • Appropriate figures, plans, maps and selected drillhole cross-sections have been included in the main body of this report. • HISTORIC DIAMOND DRILLING • An appropriate map has been included in the main body of this report. • TALGA ROCK CHIP SAMPLING • Appropriate figures, plans and maps have been included in the main bodyof this report.
Balanced reporting	• Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	• TALGA DIAMOND DRILLING • All significant intercepts above the nominal cut-off grade of 0.1% Cu, 0.01% Pb and 0.1% Zn have been reported. • The report provides the total information available to date and is considered to represent a balanced report. • HISTORIC DIAMOND DRILLING • A selection of significant historical intercepts have been reported as part of an introduction to the prospect. Results using both a lower (0.35% Cu cut-off) and higher grade (0.7% Cu cut-off) have been reported in lieu of reporting all significant drillhole intercepts.

		• TALGA ROCK CHIP SAMPLING • All assay results have been reported. • The report provides the total information available to date and is considered the represent a balanced report.
Other substantive exploration data	• Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	• TALGA DIAMOND DRILLING • Talga has completed two phases of diamond drilling and one programme of ground electromagnetic surveying at the Lautakoski Project. • Previous work is limited to broad-spaced airborne geophysics completed by the Swedish Geological Survey/LKAB. • HISTORIC DIAMOND DRILLING • SGU completed surface geophysics, diamond drilling and a mineral resource estimate. • No other significant geological data have been reviewed to date. • TALGA ROCK CHIP SAMPLING • No other significant geological data has been reviewed to date.
Further work	• The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling). • Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	• TALGA DIAMOND DRILLING • A comprehensive geological review of the recently completed drilling at Lautakoski will be completed by Talga before commencing additional exploration work at the project. • HISTORIC DIAMOND DRILLING • Follow-up surface geophysics and diamond drilling followed by downhole geophysics is currently being planned to better define, understand and extend the current known mineralisation at Äijäjärvi Östra. • TALGA ROCK CHIP SAMPLING • Talga has prepared a summer exploration programme for the Aitik East Project including geochemical sampling and field mapping.