TECHGEN METALS LTD — Interim / Quarterly Report 2021

Jul 25, 2021

ASX ANNOUNCEMENT

(ASX: TG1)

26 July 2021

“One Company, three exciting addresses.”

QUARTERLY REPORT FOR THE PERIOD ENDING 30 JUNE 2021

HIGHLIGHTS

• Diversified pipeline of copper and gold projects

• Active explorer, delivering as promised:

• Gold discovery confirmed at the Ida Valley Project by maiden RC drilling program which returned composite assay results including 4m @ 4.02g/t Au, 8m @ 1.25g/t Au and 36m @ 0.95g/t Au

• Airborne VTEM surveys completed across each of the Ashburton Project areas (Blue Rock Valley, Station Creek and Mt Boggola) validating the prospectively of our flagship copper projects

• Maiden RC drilling program completed at the El Donna Project returning composite assay results including 8m @ 1.3g/t Au and 8m @ 1g/t Au

• Rock chip sampling at the Star Prospect at the El Donna Project returned high grade results including 250g/t Au, 23g/t Au and 4.62g/t Au

• Soil sampling survey commenced at the Ida Valley Gold Project stepping out north and south from previously completed surveys

• Heritage survey completed at El Donna Project

• New Exploration Licence application at Ida Valley Project

• Near-term focus on Ashburton copper and gold at Ida Valley

• Growth strategy complimented by copper and gold global market outlook

• Experienced Board and Management, continuing to have “skin in the game”

• Capital structure leveraged to growth

TechGen Metals Limited (ACN 624 721 035) (“TechGen” or the “Company”) is pleased to provide an update on exploration activities completed during the June 2021 Quarter, following the Company's successful admission to the official list of the Australian Securities Exchange (ASX) on 7 April 2021.

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The Company is a highly active junior explorer with 100% ownership of seven gold and copper exploration projects which are strategically located in the Yilgarn Craton, Ashburton Basin and Paterson Orogen regions of Western Australia. The spread of projects across three highly prospective geographical regions provides the Company with geographical and operational diversification.

TechGen's Managing Director Mr Ashley Hood commented: "It has been a great achievement to get our ASX listing finalised during the quarter, and I wanted to take the opportunity to thank our shareholders and advisors who assisted with the listing process. Since listing, we have been active in the field completing three airborne EM surveys, two RC drilling programs, a soil sampling program as well as heritage surveys, further tenement applications and geological field work at some of our project areas. The results of our exploration efforts to date have returned highly encouraging bedrock gold mineralisation confirmed by RC drilling at the Ida Valley Project and potentially significant bedrock conductors having been identified across the Ashburton Basin Projects."

COMPANY PROJECTS

Yilgarn Craton Projects

The Archean-age Yilgarn Craton is Australia's premier gold and nickel province and is located in the southern half of Western Australia. The Craton consists of oval shaped areas of granite rocks fringed by arcuate greenstone belts and has been divided into a number of geological terranes which are separated by significant regional-scale faults. The Company considers its Yilgarn Craton Projects to be prospective for gold mineralisation.

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Figure Location of the Yilgarn Craton Projects.

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Ida Valley Project

The Ida Valley Project is located 90km northwest of Leonora in the Goldfields Region of Western Australia. The project consists of three Exploration Licences, namely E29/1053, E36/979 and E36/1015, located within the Kalgoorlie Terrane of the Yilgarn Craton.

During the Quarter the Company completed an RC drilling program, soil sampling program and applied for a new Exploration Licence to extend the project area.

A maiden RC drilling program of 11 RC drill holes for a total of 990m was completed to test areas of soil gold anomalism and rock chip gold anomalism previously identified by the Company. The assay results from the drilling program have confirmed a new gold discovery at Ida Valley with four out of eleven drill holes returning assays of greater than 1g/t Au. Gold mineralisation is from surface, remains open at depth and along strike and is associated with laminated quartz veining, arsenopyrite and pyrite within amphibolite and ultramafic rock units. The best composite assay results returned included:

• 8m @ 2.30g/t Au from 36m which included 4m @ 4.02g/t Au from 40m (Hole IVRC003)

• 8m @ 1.25g/t Au from 20m (Hole IVRC001)

• 36m @ 0.95g/t Au from 52m (Hole IVRC002) which included 4m @ 1.41g/t Au from 60m, 4m @ 1.26g/t Au from 72m & 4m @ 2.63g/t Au from 84m and

• 4m @ 1.63g/t Au from 52m (Hole IVRC011).

The geology, alteration and veining observed in the drilling program was significant enough for the Company to apply for another Exploration Licence, E36/1015, covering an area of 85km[2 ] to extend the existing Ida Valley Project area. The new application area contains localised magnetic highs along fault structures that are similar in appearance to the main area of soil and rock chip gold anomalism where RC drilling has confirmed the presence of bedrock gold mineralisation.

The Company also completed a soil sampling program consisting of 1,220 samples taken along east-west sample lines stepping out to the north and south of the central area where previous soil and rock chip sampling identified gold anomalism and the RC drilling program was completed. At the end of the quarter these assay results were still pending.

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Image : RC drill rig active at the Ida Valley Project.

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Figure: Cross section 6835000mN showing RC drill holes and assay results, Ida Valley Project.

El Donna Project

The El Donna Project is located 50km northeast of Kalgoorlie in the Goldfields Region of Western Australia. The project consists of a single Exploration Licence E27/610 located within the Kurnalpi Terrane of the Yilgarn Craton.

During the Quarter the Company reported rock chip sampling assay results from the Star Prospect, completed an RC drilling program and undertook a heritage survey.

A small rock chip sampling program (11 samples) was completed at the Star Prospect. The Star Prospect consists of shallow historic gold workings oriented in a line extending over approximately 40m. Quartz vein and iron-rich material was sampled. The assay results returned included a maximum high-grade result of 250g/t Au as well as other anomalous results such as 23g/t Au , 4.62g/t Au and 0.95g/t Au .

A maiden RC drilling program of 11 drill holes for a total of 1,346m was completed. Eight drill holes were completed at the El Donna 7 Prospect and three drill holes were completed at the Star Prospect. The best composite assay results returned included:

• 8m @ 1.3g/t Au from 56m (Hole ELRC003) and

• 8m @ 1.0g/t Au from 84m (Hole ELRC004).

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A heritage survey was completed at the project area with representatives of the Maduwongga People, the areas native title claimants, in preparation for future exploration works across the project area.

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Image : A. RC drilling at El Donna including drill rig and sample piles. B. Historic gold workings, Star Prospect.

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Figure: El Donna Project geology.

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Ashburton Basin Projects

The Ashburton Basin is a northwest trending arcuate belt of Proterozoic-age sedimentary and volcanic rocks which forms the northern part of the Capricorn Orogen. The Capricorn Orogen is a major tectonic zone, 1,000km long and 500km wide located between the Archean Yilgarn and Pilbara Cratons of Western Australia. The Company considers its Ashburton Basin Projects to be prospective for both gold and base metal mineralisation.

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Figure: Location of the Ashburton Basin Projects.

Blue Rock Valley Project

The Blue Rock Valley Project is located 175km west of Paraburdoo in northern Western Australia. The project comprises two Exploration Licences, E08/3030 and E08/3276.

During the Quarter the Company undertook a heliborne Versatile Time Domain Electro Magnetic (VTEM Max) geophysical survey which consisted of 928 line kilometres of surveying with nominal 200m spacings between flight lines. Preliminary data has been received and reviewed by Southern Geoscience Consultants, confirming the successful identification of three quality strong, late time, bedrock conductors. Two of the conductors are localised, late time, conductors present on a single flight line, in favourable structural and geological settings on or adjacent to mapped structures/fold axial traces. The third conductor is larger and potentially more significant has been identified over three flight lines adjacent to a structural flexure/bend within the regional Talga Fault. The Talga Fault is believed to be the structural conduit responsible for historic copper oxide mineralisation at the Blue Rock Prospect also located within the project area.

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Station Creek Project

The Station Creek Project is located 70km southwest of Paraburdoo in northern Western Australia. The project comprises Exploration Licence E08/2946.

During the Quarter an airborne VTEM Max survey was completed consisting of 280 line kilometres of surveying with nominal 200m spacings between flight lines and 100m spacings on infill flight lines. Preliminary data has identified the presence of several areas of early channel anomalism transitioning to midchannel induced polarisation (IP) effects. In addition, at Station Creek the results of the airborne magnetics survey undertaken at the same time as the VTEM survey indicates a magnetic high coincident with a northwest - southeast trending fault and an area of previous high-grade copper, silver and gold rock chip anomalism.

Mt Boggola Project

The Mt Boggola Project is located 60km south of Paraburdoo in Western Australia. The project comprises two Exploration Licences, E08/2996 and E08/3269.

An airborne VTEM Max survey was completed during the Quarter at the Mt Boggola Project consisting of 317 line kilometres of surveying with nominal 200m spacing between flight lines with 100m infill spaced flight lines. The preliminary VTEM data has confirmed the presence of three strong and discrete late time bedrock conductors. The conductors are present across all EM channel data (Early, Mid & Late time channels). The Company is highly encouraged by the conductors location being in areas of favourable geological setting, magnetic and structural complexity.

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Image : A & B. Heliborne VTEM survey underway, UTS Geophysics Pty Ltd.

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----- Start of picture text -----

2006 VTEM 2006 VTEM
Anomalies Anomalies
Historic Blue Rocks
Copper Mine
Talga Fault
Talga Fault
----- End of picture text -----

Figure: Newly identified conductors at Blue Rock Valley Project (Yellow Stars). A. Airborne VTEM. B. VTEM profiles on airborne magnetics.

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Figure: Mt Boggola Project showing airborne VTEM conductors (Late time - Channel 45).

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Figure: Early channel VTEM anomalism, Station Creek Project (Early time - Channel 10).

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Paterson Orogen Projects

The Proterozoic-aged Paterson Orogen contains Telfer, one of Australia's largest gold deposits, the Kintyre Uranium deposit and the Nifty Copper Mine. The Orogen can be subdivided into two major packages of rocks. The older package is the Rudall Complex and the younger package is subdivided into the Lamil Group, Throssell Group and Tarcunyah Group. The Paterson Orogen has seen a high level of recent exploration activity following the discovery of the Havieron Au-Cu deposit in 2018 by Greatland Gold Plc and the discovery of the Winu Cu-Au deposit by Rio Tinto Ltd in 2019. The Company considers its Paterson Orogen Projects to be prospective for intrusive related copper-gold and sediment hosted base metal (copper-lead–zinc–silver) style mineralisation.

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Figure: Location of the Paterson Orogen Projects.

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Harbutt Range Project

The Harbutt Range Project is located 320km east of the town of Newman on the edge of the Great Sandy Desert in Western Australia. The project comprises two granted Exploration Licences, namely E45/5294 and E45/5439.

The Harbutt Range Project lies within the Rudall Complex, the older portion of the Paterson Orogen. Several untested geophysical targets, EM and IP, are known within the project area.

Activities during the Quarter included field visits to target areas, modelling of historic geophysical data and planning of ground EM surveys.

North Nifty Project

The North Nifty Project is located approximately 250km northeast of Newman in Western Australia. The project comprises two Exploration Licences, E45/5506 and E45/5511, which were granted during the Quarter.

The North Nifty Project lies within the Throssell Group, the younger portion of the Paterson Orogen. The Project has experienced limited exploration with exploration to date focusing on the Hakea Prospect, a broad copper anomaly identified initially by lag sampling.

No field activities were undertaken at the project during the Quarter.

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Figure: Harbutt Range Project area with Airborne EM over Airborne Magnetics.

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FORWARD WORK PLANS

Ida Valley Project: Exploration will include a second RC drilling program and interpretation of soil sampling results (1,220 samples) and 1m RC sample results (274 samples) once received from the laboratory.

El Donna Project: Exploration will include continued interpretation of the historic drilling database and a soil sampling program.

Blue Rock Valley Project: Exploration will include a ground EM survey to cover the recently identified airborne VTEM conductors, potentially a Gradient Array Induced Polarisation (GAIP) survey over the Blue Rocks Copper Prospect along with geological mapping.

Station Creek Project: Exploration will include a Gradient Array Induced Polarisation (GAIP) survey over previously identified areas of high grade copper-gold-silver rock chip anomalism along with geological mapping.

Mt Boggola Project: Exploration will include a ground EM survey to cover the recently identified airborne VTEM conductors, potentially a Gradient Array Induced Polarisation (GAIP) survey over previously identified areas of high grade copper-gold-silver rock chip anomalism along with geological mapping.

Harbutt Range Project: Exploration is planned to involve ground EM surveys over several historical airborne EM targets.

North Nifty Project: Exploration will likely include a field reconnaissance visit to the project area and soil sampling.

Table: Planned exploration activities for calendar 2021.

	PROJECT
		Q2 - 2021	Q3 - 2021	Q4 – 2021
YILGARN CRATON	Ida Valley	RC Drilling / Soil Sampling	RC Drilling	RC and/or diamond drilling
	El Donna	RC Drilling*	Soil sampling	Aircore or RC Drilling
ASHBURTON BASIN	Blue Rock Valley	Airborne Magnetics & VTEM*	Ground EM / Mapping	RC Drilling
	Station Creek	Airborne Magnetics & VTEM*	Ground EM / Mapping	RC Drilling
	Mt Boggola	Airborne Magnetics & VTEM*	Ground EM / Mapping	RC Drilling
PATERSON OROGEN	Harbutt Range	Data Compilation*	Ground EM	RC Drilling
	North Nifty	Data Compilation*	Soil sampling	IP - EM geophysics

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JUNE 2021 QUARTER - ASX ANNOUNCEMENTS

This Quarterly Report contains information extracted from ASX market announcements reported in accordance with the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" (2012 JORC Code). Further details of Exploration Results (including 2012 JORC Code reporting tables where applicable) referred to in this Quarterly Report can be found in the following announcements lodged on the ASX:

17 June 2021 Gold Mineralisation Confirmed at Ida Valley 7 June 2021 VTEM Survey Commences at Mt Boggola Copper Project 2 June 2021 Ida Valley Gold Soils Geochemistry Commencement 31 May 2021 VTEM Survey Commences at Station Creek Project 13 May 2021 Composite RC Assay Results El Donna Gold Project 12 May 2021 Inaugural Ida Valley Gold RC Drilling Completed 3 May 2021 Ida Valley Gold Inaugural RC campaign 22 April 2021 High Grade Rock Chip at El Donna 19 April 2021 Primary VTEM Anomalies at Blue Rock valley 14 April 2021 RC Drilling Completed at El Donna Gold Project 12 April 2021 VTEM Survey Commences at Blue Rock Valley 8 April 2021 Maiden Drilling - El Donna Gold

These ASX announcements are available on the Company's website at www.techgenmetals.com.au.

CORPORATE

Cash balance as at 30 June 2021 was A$4.3m.

OTHER

In line with its obligations under ASX listings rule 5.3.5, payments to related parties of the Company are detailed in Table 1 below and reflect payments for Executive and Non-Executive Directors’ salary and superannuation.

As disclosed in the Company’s Prospectus, Mr Rick Govender is also engaged as the Company Secretary and Chief Financial Officer pursuant to a consulting agreement (see section 11.7 of the Company’s Prospectus). Fees paid to Mr Govender for the full year total $47,806 ( for the quarter ending June 21, $45,806 ). Similarly, Mrs. Maja McGuire received $23,170, for consulting services for the full year ended June 30, 2021 ( for the quarter ending June 21, $9,800 ), as disclosed in section 9.3.3 of the Company’s Prospectus.

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Table 1: Directors fees (as disclosed in section 9.3.3 of the Company’s Prospectus)

Directors Fees	Since listing on 07 April 2021	Full year to 30 June 2021
Executive Director fees	81,866	81,866
Non-Executive director fees	27,375	27,375
Total	109,241	109,241

During the quarter ended 30 June 2021, the Company spent approximately $623,328 on project and exploration activities on its wholly owned tenements. These activities have been detailed within this report and are in line with the use of funds disclosed in the Company’s Prospectus. The expenditure represents only direct costs associated with these activities.

Table 2: Use of Funds

Use of Funds	As per the Prospectus	Actual expenditure Jan to June 21
Expenses of the offer	320,163	319,688
Broker Fee	471,875	442,375
Exploration Expenditure	3,525,802	623,328
Directors and relatedpartyfees	876,000	164,847
WorkingCapital	637,940	212,786
Total	5,831,780	1,763,024

The above table is a statement of current intentions. Investors should note that the allocation of funds set out in the above table may change depending on a number of factors including the results of exploration, outcome of development activities, regulatory developments and market and general economic conditions. In light of this the Board reserves the right to alter the way funds are applied.

TENEMENT SCHEDULE

Project	Tenement	Status	Area **(km2) **	Grant Date	Term (Years)	Interest
Ida Valley	E29/1053	Granted	39	5/07/2019	5	100%
Ida Valley	E36/979	Application	75			100%
Ida Valley	E36/1015	Application	85			100%
El Donna	E27/610	Granted	14	5/02/2020	5	100%
Harbutt Range	E45/5294	Granted	63	18/03/2019	5	100%
Harbutt Range	E45/5439	Granted	313	25/02/2020	5	100%
North Nifty	E45/5506	Granted	31	3/06/2021	5	100%
North Nifty	E45/5511	Granted	16	3/06/2021	5	100%
Station Creek	E08/2946	Granted	54	3/12/2018	5	100%
Blue Rock Valley	E08/3030	Granted	101	24/02/2020	5	100%
Blue Rock Valley	E08/3276	Application	101			100%
Mt Boggola	E08/2996	Granted	63	9/10/2019	5	100%
Mt Boggola	E08/3269	Application	116			100%

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About TechGen Metals Limited

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TechGen is an Australian registered exploration Company with a primary focus on exploring and developing its 100% owned gold and copper projects in Western Australia (regarded as the top jurisdiction in the world for mining investment). The Company’s objective is to create wealth for its shareholders through commercial exploration success.

TechGen holds a portfolio of thirteen exploration licences strategically located in three highly prospective geological regions of Western Australia; the Yilgarn Craton, Paterson Orogen and Ashburton Basin.

The Yilgarn Craton and Paterson Orogen are both proven world class gold and base metal provinces whilst the Ashburton Basin is considered highly prospective yet under explored and has the potential for major new gold and base metal discoveries. The spread of projects across these three geological regions provides the Company with geographical and operational diversification.

TechGen has an experienced board and management team, with a broad range of exploration, development, management, legal, finance, commercial and technical skills in the resource industry. The Company’s Managing Director and Technical Director are project vendors and substantial holders, driven to actively manage projects and deliver value to shareholders.

For more information, please visit our website: www.techgenmetals.com.au

Authorisation

For the purpose of Listing Rule 15.5, this announcement has been authorised for release by the Board of Directors of TechGen Metals Limited.

Competent Person Statement

The information in this announcement that relates to Exploration Results is based on and fairly represents information compiled and reviewed by Andrew Jones, a Competent Person who is a member of the Australasian Institute of Mining and Metallurgy (AusIMM). Andrew Jones is employed as a Director of TechGen Metals Limited. Andrew Jones has sufficient experience that is relevant to to the style of mineralisation and type of deposits under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 edition of the Australasian Code of Reporting of Exploration Results, Mineral Resources and Ore Reserves. Andrew Jones consents to the inclusion in this announcement of the matters based on his work in the form and context in which it appears.

For further information, please contact:

Mr Ashley Hood, Managing Director P: +61 6557 6606 E: admin@techgenmetals.com.au www.techgenmetals.com.au

Rule 5.5

Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

quarterly cash	flow report	flow report
Name of entity
TechGen Metals Ltd
ABN 66 624 721 035	Quarter ended (“current quarter”)
	June 21
Consolidated statement of cash flows	Current quarter $A’000	Year to date (12 months) $A’000
1. Cash flows from operating activities 1.1 Receipts from customers 1.2 Payments for (a) exploration & evaluation (b) development (c) production (d) staff costs (e) administration and corporate costs 1.3 Dividends received (see note 3) 1.4 Interest received 1.5 Interest and other costs of finance paid 1.6 Income taxes paid 1.7 Government grants and tax incentives 1.8 Other (provide details if material) 1.9 Net cash from / (used in) operating activities	(165) (344)	(180) (717)
	(509)	(897)
2. Cash flows from investing activities 2.1 Payments to acquire or for: (a) entities (b) tenements (c) property, plant and equipment (d) exploration & evaluation (e) investments (f) other non-current assets	(6) (9) (615) (141)	(19) (9) (780) (168)

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

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Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

Consolidated statement of cash flows	Current quarter $A’000	Year to date (12 months) $A’000
2.2 Proceeds from the disposal of: (a) entities (b) tenements (c) property, plant and equipment (d) investments (e) other non-current assets 2.3 Cash flows from loans to other entities 2.4 Dividends received (see note 3) 2.5 Other (provide details if material) 2.6 Net cash from / (used in) investing activities
	(771)	(976)
3. Cash flows from financing activities 3.1 Proceeds from issues of equity securities (excluding convertible debt securities) 3.2 Proceeds from issue of convertible debt securities 3.3 Proceeds from exercise of options 3.4 Transaction costs related to issues of equity securities or convertible debt securities 3.5 Proceeds from borrowings 3.6 Repayment of borrowings 3.7 Transaction costs related to loans and borrowings 3.8 Dividends paid 3.9 Other (provide details if material) 3.10 Net cash from / (used in) financing activities	6,000 (420)	6,661 (454)
	5,580	6,207
4. Net increase / (decrease) in cash and cash equivalents for the period
4.1 Cash and cash equivalents at beginning of period 4.2 Net cash from / (used in) operating activities (item 1.9 above) 4.3 Net cash from / (used in) investing activities (item 2.6 above) 4.4 Net cash from / (used in) financing activities (item 3.10 above)	34 (509) (771) 5,580	0 (897) (976) 6,207

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

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Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

Consolidated statement of cash flows	Current quarter $A’000	Current quarter $A’000	Year to date (12 months) $A’000
4.5 Effect of movement in exchange rates on cash held 4.6 Cash and cash equivalents at end of period
	4,334		4,334
5. Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts	Current quarter $A’000	Previous quarter $A’000
5.1 Bank balances 5.2 Call deposits 5.3 Bank overdrafts 5.4 Other (provide details) 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above)	1,809 2,525	34
	4,334	34
6. Payments to related parties of the entity and their associates		Current quarter $A'000
6.1 Aggregate amount of payments to related parties and their associates included in item 1 (165) 6.2 Aggregate amount of payments to related parties and their associates included in item 2 Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments.		(165)

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

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Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report

7. 7.1 7.2 7.3 7.4 7.5 7.6	Financing facilities Note: the term “facility’ includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. Total facility amount at quarter end $A’000 Amount drawn at quarter end $A’000 Loan facilities Credit standby arrangements Other (please specify) Total financing facilities Unused financing facilities available at quarter end Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well.	Total facility amount at quarter end $A’000	Amount drawn at quarter end $A’000

8.	Estimated cash available for future operating activities	$A’000
8.1 8.2 8.3 8.4 8.5 8.6 8.7 8.8	Net cash from / (used in) operating activities (item 1.9) (509) (Payments for exploration & evaluation classified as investing activities) (item 2.1(d)) (615) Total relevant outgoings (item 8.1 + item 8.2) (1,124) Cash and cash equivalents at quarter end (item 4.6) 4,334 Unused finance facilities available at quarter end (item 7.5) Total available funding (item 8.4 + item 8.5) 4,334 Estimated quarters of funding available (item 8.6 divided by item 8.3) (3.86) Note: if the entity has reported positive relevant outgoings (ie a net cash inflow) in item 8.3, answer item 8.7 as “N/A”. Otherwise, a figure for the estimated quarters of funding available must be included in item 8.7. If item 8.7 is less than 2 quarters, please provide answers to the following questions: 8.8.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not?	(509) (615) (1,124) 4,334
		4,334
	Answer:
	8.8.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful?
	Answer:

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

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Appendix 5B

Mining exploration entity or oil and gas exploration entity quarterly cash flow report

8.8.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis?

Answer:

Note: where item 8.7 is less than 2 quarters, all of questions 8.8.1, 8.8.2 and 8.8.3 above must be answered.

Compliance statement

• 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A.

• 2 This statement gives a true and fair view of the matters disclosed.

Date: ...26 July 2021..............................................................................

Authorised by: By the Board...................................................................................

(Name of body or officer authorising release – see note 4)

Notes

1. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity’s activities for the past quarter, how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so.

2. If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report.

3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity.

4. If this report has been authorised for release to the market by your board of directors, you can insert here: “By the board”. If it has been authorised for release to the market by a committee of your board of directors, you can insert here: “By the [ name of board committee – eg Audit and Risk Committee ]”. If it has been authorised for release to the market by a disclosure committee, you can insert here: “By the Disclosure Committee”.

5. If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations , the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively.

ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms.

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