TREK METALS LIMITED — Capital/Financing Update 2018

Oct 22, 2018

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Drilling Results Continue to Demonstrate Potential for Large Scale Zinc – Lead at Kroussou Project Galena (lead) and sphalerite (zinc) dominant ore minerals from surface

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ASX ANNOUNCEMENT
23 October 2018
ASX: TKM
ARBN: 124 462 826
Board of Directors
Mr Greg Bittar
Non‐Executive Chairman
Mr Bradley Drabsch
Managing Director
Ms Sonja Neame
Non‐Executive Director
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HIGHLIGHTS

• Further results received from drilling at the Kroussou Project continue to demonstrate the potential for multiple, very large zinc‐lead ore systems

• Near‐surface intersections of strong zinc‐lead grades suggest strong potential for future high‐margin mining operations

• Mineralisation is confirmed as present along the 3km length of the Dikaki channel so far tested by TKM with the latest assays including:

• 5.5m @ 1.2% Zn + Pb (DKDD018 from 15.1m – 20.6m)

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Mr Michael Bowen
Non‐Executive Director
Issued Capital
Shares – 438.2 M
Options – 165.2 M
Share Price – A$0.013
Market Cap. – A$5.7M
Registered Office – Australia
Suite 5/56 Kings Park Rd
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• 4.2m @ 1.8% Zn + Pb (DKDD019 from 32.0m – 32.6m)

• 1.7m @ 4.6% Zn + Pb (DKDD023 from 20.2m – 21.9m)

• 7.8m @ 2.5% Zn + Pb (DKDD025 from 33.0m – 40.8m)

• Latest drilling has further confirmed an entirely new mineralisation centre only 4km SW of Dikaki at a prospect named Bouambo South. Assays indicate mineralisation present along the length of the channel.

• 5.5m @ 1.2% Zn + Pb (DKDD018 from 15.1m – 20.6m)

• 4.2m @ 1.8% Zn + Pb (DKDD019 from 32.0m – 32.6m)

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WEST PERTH WA 6005
Registered Office – Bermuda
Trinity Hall
43 Cedar Avenue
HAMILTON HM12
Postal Address
P.O. Box 1796
WEST PERTH WA 6872
T +61 8 6555 1879
E info@trekmetals.com.au
W trekmetals.com.au
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• The channel sediments are mineralised over very significant widths which opens up the broader potential within the deeper, much more voluminous basin to the west

• Results confirm emergence of Trek’s Kroussou Project as a potentially world‐class zinc‐lead discovery

• Drilling is now completed, with further assay results to be reported in the weeks ahead

Trek Metals Limited ( “Trek” or the “Company” ) (ASX:TKM) is pleased to present further highly encouraging results from the recent drilling completed at its flagship Kroussou Project in Gabon (Figure 1) (“ Kroussou ”).

These latest drill results continue to demonstrate the presence of highly significant, sulphide dominated zinc‐lead mineralisation that has been intersected at or very near to surface, and offers potentially very large scale, open pitable ore systems (Figures 2‐7).

A number of assays have been received from drilling targeted within the Dikaki Channel, which is the most advanced of the many Kroussou Project prospects, and first of several channels in which Trek expects to define JORC Resources during 2019.

Best results from latest drilling within the Dikaki Channel returned:

• 5.5m @ 1.2% Zn + Pb (DKDD018 from 15.1m – 20.6m)

• 4.2m @ 1.8% Zn + Pb (DKDD019 from 32.0m – 32.6m)

• 1.7m @ 4.6% Zn + Pb (DKDD023 from 20.2m – 21.9m)

• 7.8m @ 2.5% Zn + Pb (DKDD025 from 33.0m – 40.8m)

In addition to the results at Dikaki, Trek is pleased to confirm that diamond drilling within the Bouambo South channel, located only 4km SW of Dikaki, targeting soil anomalies and rock chips has confirmed its potential as a host to significant mineralisation (Figure 8, Table 1). The results for part of DKDD004, released in September ( 5.8m @ 6.5% Zn + Pb from 10.2m ), have now been complemented by further results from DKDD001 and 002 that provide confidence that mineralisation is widespread within the Bouambo South channel. This re‐affirms the Company’s belief that there is potential for Kroussou to host several large deposits within multiple channels contained within the project area. Assays from the remaining holes into the Bouambo South channel are expected to be received in the coming weeks.

Key to the potential of the Kroussou Project, is understanding the very large scale and the broad nature of the anomalism and mineralisation that is present in the channels along the basin margin.

These windows into the basin present, in themselves, very large tonnage targets with the volume of rock present in the broader basin to the west, offering an opportunity for the discovery of potentially super‐ giant base metal deposits.

Trek has clearly demonstrated with the limited drilling undertaken to date, that the mineralising system is in the order of several tens of kilometres long and present within vast thicknesses of the sediment pile, providing all the ingredients for a very significant orebody to have developed under the right conditions.

Further results from the remainder of the recently completed drilling programme are anticipated in the coming weeks.

TKM’s Managing Director Bradley Drabsch commented:

“The latest results continue to validate our exploration approach and signal that we are genuinely onto an ore forming system of significance that could produce numerous, very large mineralised bodies located at or very close to the surface.

Dominated by sulphide ore minerals, these deposits would potentially be very easy to mine and process and present real company‐making opportunities. We have yet to explore the broader basin to the west, which is potentially where even larger, even more significant mineralisation could be hidden under cover.”

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COMPETENT PERSONS STATEMENT

The information in this report that relates to exploration results is based on information compiled by Mr Bradley Drabsch, Member of the Australian Institute of Geoscientists (“AIG”) and Managing Director of Trek Metals Limited. Mr Drabsch has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity that is being undertaken to qualify as a competent person as defined in the JORC Code 2012. Mr Drabsch consents to the inclusion in the report of the matters based on the information in the form and context in which it appears.

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Figure 1: Kroussou Project Location Plan showing Key Infrastructure

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Figure 2: Drill plan at the high grade lens within the Dikaki Channel at Kroussou.

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Figure 3: Drill plan at the high grade lens within the Dikaki Channel at Kroussou

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Figure 4: Section 640,200mE within the Dikaki Channel

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Figure 5: Section 640,240mE within the Dikaki Channel

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Figure 6: Section 640,320mE within the Dikaki Channel

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Figure 7: Section 637,730mE within the Dikaki Channel

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Figure 8: The Bouambo South channel is a new target that was never drilled historically. Results from the first holes continue to confirm and demonstrate the scale of mineralization at Kroussou

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Hole ID	Easting (WGS84 32S)	Northing (WGS84 32S)	RL^ (m)	Dip/Azimuth	Depth (m)	From (m)	To (m)	Interval	Zn + Pb (%)	Zn (%)	Pb (%)
BODD001	637,405	9,829,420	120	‐90/000	83.5	37.0	38.0	1.0	1.0	0.8	0.2
BODD002	637,460	9,829,420	120	‐90/000	54.0	0.4	1.8	1.4	1.2	1.0	0.2
					and	5.7	6.7	1.0	1.6	1.5	0.1
BODD003	637,960	9,828,881	120	‐90/000	34.6	Visible Mineralisation– Narrow intervals of disseminated sphalerite and galena present as replacement of carbonate bearingsedimentarymatrix and cement
BODD004	636,920	9,829,595	120	‐60/120	41.5	10.2	16.0	5.8	6.5	5.3	1.2
					Incl.	10.2	13.2	3.0	9.5	8.0	1.5
BODD005	638,081	9,828,960	120	‐90/000	19.5	Visible Mineralisation –Trace to disseminated sphalerite and galena present as replacement of carbonate bearingsedimentarymatrix and cement
BODD006	637,719	9,828,800	120	‐90/000	52.5	Visible Mineralisation– Trace to disseminated sphalerite and galena present as replacement of carbonate bearingsedimentarymatrix and cement
BODD007	636,905	9,829,610	120	‐90/000	56.0	Visible Mineralisation– Sphalerite rich zone, down‐dip from that in BODD004 with minor galena, present as matrix in conglomerate similar to the interval in BODD004
BODD008	637,665	9,829,100	120	‐90/000	25.5	Visible Mineralisation– Trace to disseminated sphalerite and galena present as replacement of carbonate bearingsedimentarymatrix and cement
DKDD010	640,247	9,832,200	107	‐90/000	38.1	2.4	23.2	20.8	4.2	1.7	2.5
					Incl.	5.0	9.6	4.6	5.2	4.4	0.8
					and incl.	13.6	18.3	4.7	9.7	0.4	9.3
					and incl.	21.0	23.2	2.2	5.1	4.2	0.9
					and	34.0	35.1	1.1	3.8	1.6	2.2
DKDD011	640,237	9,832,116	100	‐90/000	59.3	11.5	17.2	5.7	2.2	1.8	0.4
					and	22.0	30.0	8.0	2.8	1.3	1.5
					Incl.	22.0	24.0	2.0	4.4	2.5	1.9
					and incl.	28.1	30	1.9	5.5	1.7	3.8
					and	33.0	45.0	12.0	1.9	0.5	1.4
					Incl.	35	38	3.0	4.3	0.7	3.6
					and	50.0	54.0	4.0	2.1	1.7	0.4
DKDD012	640,201	9,832,115	106	‐90/000	68.6	20.0	21.0	1.0	1.8	1.0	0.8
					and	25.1	37.8	12.7	4.6	1.5	3.5
					Incl.	34.3	37.8	3.5	9.8	4.0	5.8
					and	41.6	63.0	21.4	2.6	0.6	2.0
					Incl.	43.2	46.6	3.4	8.3	1.6	6.7
DKDD013	640,277	9,832,189	112	‐90/000	19.0	0.7	15.8	15.1	6.1	2.6	3.5
					Incl.	1.0	7.0	6.0	10.0	4.7	5.3
DKDD014	640,156	9,832,248	105	‐90/000	54.0	3.0	4.0	1.0	1.1	1.1	0.0

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					and	9.9	11.6	1.7	2.2	1.9	0.3
					and	13.5	15.2	1.7	2.9	2.4	0.5
					and	38.2	46.2	8.0	1.0	0.5	0.5
DKDD015	640,315	9,832,042	105	‐90/000	86.6	20.4	21.9	1.5	3.6	3.6	0.0
						26.6	27.8	1.2	1.3	1.3	0
						43.0	45.8	2.8	3.2	3.0	0.2
						52.4	72.8	20.4	2.0	0.6	1.4
					Incl.	64.6	67.7	3.1	3.5	0.4	3.1
DKDD016	640,314	9,832,117	112	‐90/000	52.7	32.0	52.0	20.0	3.4	1.1	2.3
					Incl.	39.4	44.6	5.2	8.1	2.5	5.6
DKDD017	640,390	9,832,158	115	‐90/000	52.5	23.9	52.5 (EOH)	28.5	2.0	1.3	0.7
					Incl.	26	29	3.0	3.4	2.9	0.5
					and	39	44	5.0	3.1	1.5	1.6
					and	48.5	51.9	3.4	3.2	1.6	1.6
DKDD018	640,314	9,831,928	105	‐90/000	29.6	15.1	20.6	5.5	1.2	0.6	0.6
					and	24.2	25.9	1.7	1.7	1.6	0.1
DKDD019	640,318	9,831,964	110	‐90/000	44.6	20.5	21.6	1.1	1.6	1.6	0.0
					and	32.0	36.2	4.2	1.8	1.7	0.1
					Incl.	35.2	36.2	1.0	3.2	0.0	3.2
DKDD020	639,838	9,832,481	109	‐90/000	42	20.0	21.0	1.0	1.1	1.1	0.0
					and	34.0	36.5	2.5	1.0	0.8	0.2
DKDD021	639,601	9,832,518	101	‐90/000	36	15.0	16.0	1.0	1.0	0.6	0.4
					and	29.9	32.7	2.8	1.4	1.0	0.4
DKDD022	638,450	9,832,488	164	‐90/000	52.3	7.0	12.0	5.0	2.2	1.9	0.3
DKDD023	639,675	9,832,350	100	‐90/000	113.5	11.7	12.7	1.0	1.6	1.5	0.1
						20.2	21.9	1.7	4.6	4.6	0.0
						52.0	53.0	1.0	1.6	1.0	0.6
						58.0	61.0	3.0	1.3	0.8	0.5
DKDD024	640,024	9,832,312	100	‐90/000	52.5	Assays Pending
DKDD025	640,505	9,832,241	115	‐90/000	50.3	18.8	22.6	3.8	1.9	1.2	0.7
					Incl.	21.9	22.6	0.7	7.1	3.8	3.3
						33.0	40.8	7.8	2.5	1.1	1.4

Table 1: Drillholes from potential DSO lens at Dikaki ^ ‐ RL is nominal and is yet to be accurately determined Intervals are >1m @ >1% Pb + Zn with maximum internal dilution of 3m

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JORC Code, 2012 Edition – Table 1

Section 1 Sampling Techniques and Data

(Criteria listed in the preceding section also apply to this section.)

Criteria	JORC Code explanation	Commentary
Sampling techniques	 Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole 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 (eg ‘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 (eg submarine nodules) may warrant disclosure of detailed information.	Trek Drilling Drill core has been cut in half using a coresaw. Sampling is being and has been conducted to industry standard with samples taken either at metre or geological boundaries as appropriate with a minimum sample length of 0.3m (some minor exceptions due to core loss in some intervals). Core has been cut to ensure that both sides approximate one another to ensure representivity of each length. Historic Drilling Due to the historic nature of the drilling results reported herein, it is not possible to comment on the quality of the sampling used to produce the results described. It is known from the historic reports that the drillcore was sawn. TKM continues to try to locate any remnant core from the drilling but as yet as been unsuccessful. It is highly likely that, due to the passage of time, the core from the BRGM work in the 1960’s and 1970’s has been lost or destroyed.  Results were obtained from historic reports produced by the Bureau de Recherches Géologiques et Minières (BRGM, French Geological Survey) during the 1960’s and 1970’s.
Drilling techniques	 Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg 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).	Trek Drilling Drilling is either HQ diamond (63.5mm diameter core) or NQ diamond (47.6mm diameter core) standard tube. Historic Drilling Drilling was completed using a Winkie style diamond drill rig producing drill core ofapproximately25mmdiameter.
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 _	Trek Drilling Core recoveries are measured using industry standard methods for each run of core drilled. The use of HQ and NQ diamond core ensures the best recovery under the conditions experienced in the project area.  No relationshipbetween recoveryandgrade has been established.

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Criteria	JORC Code explanation	Commentary
	loss/gain of fine/coarse material.	Historic Drilling Due to the historic nature of the drilling results reported herein, it is not possible to comment on the recoveries achieved at the time. Only sporadic reference to recoverywas made in historic logs.
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.	Trek Drilling Field logging to industry standard has been conducted on the drill core in its full condition. The core will be re-logged once cut. All observations are logged in Microsoft Excel before being uploaded into the company database. This method will allow the logging to support Mineral Resource Estimations if/when required. Geological observations such as lithology, alteration, mineralisation etc are qualitative whereas recovery, RQD etc are quantitative. 100% of the drill core has been fully logged and photographed (dry and wet). 100% of the non-sampled core has been retained and stored for future reference. Historic Drilling All drill core was logged in detail, however, due to the age of the drilling and the inability to check-log the core due to its destruction, these logs can be used as a guide only and will not be suitable for use in a Mineral Resource estimation. Qualitative: Lithology, alteration, mineralisation etc. All holes for their entire length appear to have been logged, however, some logs are missing from the historic dataset).
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. _	Trek Drilling The drill core has been cut in half using a standard petrol-powered core saw. Sampling half core is industry standard. Core has been cut to ensure that both sides approximate one another to ensure representivity of each length. The sample size collected is appropriate for this stage of exploration. Historic Drilling Due to the historic nature of the drilling results reported herein, it is not possible to comment on the method of sampling, sampling techniques and sample preparation methodology.

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Criteria	JORC Code explanation	Commentary
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 (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.	Trek Drilling  Samples from the first phase of drilling (Hole DKDD001 – 009) were processed in Gabon by Setpoint laboratories. Samples were: oWeighed oDried oCrushed to 80% passing 2mm oPulverised to 80% passing 80 microns oPackaged and sent to Intertek Genalysis in Perth for assay  Samples from the second phase of drilling (all other holes) were processed in Ghana by Intertek Genalysis laboratories. Samples were: oDried oCrushed to 2mm oPulverised to 85% passing 75 microns oPackaged and sent to Intertek Genalysis in Perth for assay  All Samples are assayed by Intertek Genalysis in Perth using a 4 acid digest (considered a total digest) with an ICP-OES or ICP-MS (element dependant) finish for a suite of ore and indicator elements  Laboratory and Trek submitted QAQC samples returned results within acceptable limits to date. Historic Drilling  Due to the historic nature of the drilling results reported herein, it is not possible to confirm the method of assay or analytical technique however historical reports indicate the drill samples were analysed using atomic absorption methods but the digestion method is not clear.  No description of QAQC protocols are provided in the historic reports.
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.	Trek Drilling All logging observations are handwritten or entered into a field laptop using MS Excel before being uploaded into the company database. Historic Drilling Due to the historic nature of the drilling results reported herein, it is not possible to verify any of the results. TKM has drilled a number of holes in an effort to twin historic holes. This process has resulted in confirmation that the assay results published in historic reports are valid and can be used to guide modern exploration. Due, however, to numerous uncertainties, these historic results cannot be used for the estimation of mineral resources.

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Criteria	JORC Code explanation	Commentary
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.  Quality and adequacy of topographic control.	Trek Drilling A handheld GPS was used to locate each sample. Sample locations are provided as UTM co-ordinates within Zone 32, southern hemisphere using WGS 84 datum. Easting and Northing is typically accurate to +/-10m with RL presented as nominal at this stage. Accurate topographic control is yet to be established. Historic Drilling Drillholes were located according to topography on maps produced at the time of drilling. A process is underway to attempt to accurately locate these; however, this process is incomplete at this stage. Location accuracies are approximately +/- 10m but may be less accurate in certain areas due to difficultyin locatingmapped features.
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.	Trek Drilling Samples have been collected at regular 1m intervals unless a specific geological boundary of significance is within an interval. Samples are then adjusted to reflect that boundary to a minimum length of 0.3m (some minor exceptions due to core loss in some intervals). Whilst no Mineral Resources are discussed in this announcement, logging, sampling, assaying and associated data collection is being conducted to industry standard levels for future use in Resource/Reserve calculations if/when required. Historic Drilling Drillhole collars described in historical reports are spaced at various intervals including random locations and on grids of 50m x 100m and 25m x 50m. Due to the historic nature of the drilling results reported herein, they will not be suitable for use in a Mineral Resource estimation.
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.	Trek Drilling and Historic Drilling Drillholes are vertical (one hole only has been drilled at -60o). Due to the shallow dipping nature of the known geology in the project area, this orientation is considered appropriate.
Sample security	 The measures taken to ensure sample security.	Trek Drilling  Samples were transported from the field by company field personnel and then tothe preparatory and assayinglaboratoryviaDHL.

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Criteria	JORC Code explanation	Commentary
		Historic Drilling  Due to the historic nature of the drilling results reported herein, it is not possible to comment onsample security.
Audits or reviews	 The results of any audits or reviews of sampling techniques and data.	Trek Drilling  No reviews or audits have been undertaken at this stage. Historic Drilling  No audits are possible on the results but a full review of the historic data package is underway.  TKM has drilled a number of holes in an effort to twin historic holes. This process has resulted in confirmation that the assay results published in historic reports are valid and can be used to for targeting purposes and approximate modern findings. The historic results, however, will be unsuitable for use in Mineral Resource estimation.

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Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

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.	TKM owns the Kroussou Project in Gabon 100%. Havilah Consolidated Resources (HCR) holds a 0.75% NSR. This royalty may be bought back from HCR by TKM for US$250,000. ASX:BAT holds a 2.5% NSR with 1% subject to buy back by TKM for US$1.5M. The Kroussou tenure is an Exploration License (G4-569) renewable each year for a further 3-year period beginning the 2ndJuly 2015. The renewal process for the second 3-year period is currently underway. The Company is not aware of any impediments relating to the licenses or area.
Exploration done by other parties	 Acknowledgment and appraisal of exploration by other parties.	Intermittent historical exploration as conducted by French Bureau de Recherches Géologiques et Minières (BRGM) at Kroussou from 1962 - 1963, the project was then later re-examined in 1979-1981 by the BRGM in joint venture with Comilog which is a Gabonese government owned mining company. BRGM discovered the Kroussou Pb-Zn-(Ag) mineral occurrences as well as others along various river systems on the Kroussou license. BRGM conducted drilling on the project in 1962, 1977-1980. ASX:BAT obtained historical reports and drill logs relating to BRGM’s field program and completed cursory rock chip and mapping work in 2015 and 2016.
Geology	 Deposit type, geological setting and style of mineralisation.	The deposit style reported in BRGM historical files is Mississippi Valley Type (MVT) sedimentary mineralisation of Pb-Zn-(Ag) where mineralisation is similar to the Laisville (Sweden) style with deposition within siliciclastic horizons in a reducing environment. On a regional scale, the Pb-Zn mineral concentrations are distributed at the edge of the continental shelf which was being eroded during Lower Cretaceous time. Mineralisation is located within the Gamba Formation part of the N’Zeme Asso Series and was deposited during the Cretaceous as part of the Cocobeach Complex deposited during formation of the Cotier Basin. Mineralisation is hosted by conglomerates, sandstones and siltstones deposited in laguno-deltaic reducing conditions at the boundary of the Cotier Basin onlapping continental basement rocks. Large scale regional structures are believed to have influenced mineralisation deposition.

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Criteria	JORC Code explanation	Commentary
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 o down hole length and interception depth o hole length.	See table 1 within the document.
Data aggregation methods	 In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg 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. _	Trek Drilling Intervals reported using a minimum width of 1m and a minimum assay of 1.0% Zn + Pb and a maximum of 3m internal dilution
Relationship between mineral- isation widths and intercept lengths	 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 (eg ‘down hole length, true width not known’).	Trek Drilling and Historic Drilling Mineralisation is understood to be within shallowly dipping horizons and therefore vertical drillholes should intersect zones at approximately right angles and approximate true widths.
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.	Refer to figures and tables in 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.	See table 1 within the document.
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. _	All meaningful and material information is reported.

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Criteria	JORC Code explanation	Commentary
Further work	 The nature and scale of planned further work (eg 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.	Continued drilling is planned for all target areas as appropriate.

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