TREK METALS LIMITED — Capital/Financing Update 2018

Sep 5, 2018

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High Grade Zinc from Bouambo South – Multiple Deposit Potential Confirmed at Kroussou

ALL targets present as at‐surface or near‐surface opportunities, dominated by sulphide ore minerals

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ASX ANNOUNCEMENT
6 September 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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Mr Michael Bowen
Non‐Executive Director
Issued Capital
Shares – 322.9 M
Options – 120.2 M
Share Price – A$0.017
Market Cap. – A$5.5M
Registered Office – Australia
Suite 5/56 Kings Park Rd
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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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HIGHLIGHTS

• First ever drill results from previously unexplored Bouambo South channel have confirmed the potential for multiple deposits to be present at Kroussou

• Results from part (0m – 16.5m) of hole BODD004 include:

• 5.8m @ 6.5% Zn + Pb (BODD004, from 10.2m) Incl. 3.0m @ 9.5% Zn + Pb (8.0% Zn + 1.5% Pb)

• Very first results from the only holes ever drilled into a target zone resulting from Trek’s 2017 soil and rock sampling programme – many more targets exist

• ALL other holes drilled along the 1.5km length of Bouambo South, tested to date, show visible zinc and lead mineralisation (dominated by sphalerite and galena)

• Soil anomalies and anomalous rock chips are present in 10 channels along the basin margin area sampled by TKM to date (>20 strike km of anomalism >500ppm Zn + Pb)

• Further results to follow in the coming weeks

Trek is excited to continue to present exceptionally positive results from the exploration drilling programme at its flagship Kroussou Project in Gabon (Figure 1).

Hole BODD004 has returned an interval of 5.8m @ 6.5% zinc + lead (from 10.2m, comprising 5.3% Zn and 1.2% Pb ) including 3m @ 9.5% zinc + lead ( 8.0% Zn and 1.5% Pb ). To date, only the top 16.5m of the hole has been assayed, the remainder will follow in subsequent batches.

TKM’s Managing Director Bradley Drabsch said that, “Our team in Gabon is doing a fantastic job of delivering these results and provide us with the confidence that we are onto something that could become very large. It is amazing, in the 21[st] Century, to be busy exploring for the types of deposits we are targeting, at, or near the surface, whilst most of our competitors are searching deep under cover for underground mines. We are literally able to stand, in one area of Dikaki, on what would be very high‐grade zinc and lead ore, something you simply don’t get to do very much nowadays.”

Approximately 95% of the planned 2,000m of diamond drilling has been completed. In addition to the results presented to the market last week and below (see Dikaki Update section), which demonstrate mineralisation continuity within the Dikaki Channel, assays from a portion of hole BODD004, that was fast tracked through the laboratory, have confirmed high‐grade, zinc‐rich, mineralisation within the Bouambo South Channel, approximately 3.5km south of the Dikaki Channel. These results confirm the potential for multiple deposits to be present at the Kroussou Project.

Whilst hole BODD004 (part thereof) is the only hole that assays are currently available for, all holes drilled within the Bouambo Channel display visible mineralisation comprised primarily of trace to disseminated sphalerite, galena and minor smithsonite, present mostly as replacement of carbonate bearing matrix and cement in fine to coarse grained siltstones, sandstones and conglomerates. Further information for each drillhole is provided in Table 1 (drillhole summary) below.

This result is highly encouraging for the potential of the broader project. It shows that the systematic exploration approach undertaken by Trek to date is not only appropriate but ideal. Drilling adjacent to outcrops with mineralised rock that occur within broad, high‐order soil anomalies, is delivering significant results and opening up additional near‐surface targets outside of the known mineralisation within the Dikaki Channel. Trek has defined soil anomalies and collected highly anomalous rock chips in at least 10 channels along the basin‐basement contact, presenting numerous opportunities to grow this already significant project.

Dikaki Update

Further results from Dikaki clearly highlight the potential for this being the first significant open‐pit discovery at Kroussou, with results like 20.0m @ 3.4% zinc + lead (from 32.0m in DKDD016) including 5.2m @ 8.1% zinc + lead . This latest intersection complements those released recently that included 20.8m @ 4.2% zinc + lead (from 2.4m in DKDD010) including 4.7m @ 9.7% zinc + lead 12.7m @ 4.6% zinc + lead (from 25.1m in DKDD012) including 3.5m @ 9.8% zinc + lead and 15.1m @ 6.1% zinc + lead (from 0.7m in DKDD013) including 6.0m @ 10.0% zinc + lead (Figures 7,8,9 and 10).

Most importantly, these results clearly demonstrate the continuity, both along strike and down‐dip, of the mineralisation at this target within the Dikaki Channel. The mineralised zone remains open in both directions along strike and down‐dip and presents as an excellent starting point to define a highly significant, open‐pit zinc lead resource.

Drilling has now been undertaken in the Dikaki, Bimbome, Bouambo East, Bouambo South and Niambokamba Channels. Initial geological observations from these holes are in line with expectations and TKM remains confident of the successful identification of several new mineralisation centres along the basin margin. The results from these holes will continue to be released as they are received over the coming weeks.

Petrographic descriptions from numerous ore grade samples within the Dikaki Channel have indicated that the ore minerals are predominantly galena (lead) and low‐iron sphalerite (zinc). A metallurgical sample has now been collected and submitted for initial test work (being undertaken by METS Engineering) with the results of this process expected in the coming months.

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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: Numerous channels along the basin‐basement contact display rock and soil anomalies. Drilling is presenting evidence of the potential for multiple deposits.

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Figure 3: Drillhole BODD004 has intersected high‐grade, zinc dominant mineralization from 10.2m downhole. Targeting was based upon field work conducted by TKM that includes simple methods such as soil and rock chip sampling.

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Figure 4: An oblique section within the Bouambo South channel that shows the intersection from hole BODD004. The intersection remains open in all directions with significant visible mineralization present in BODD007.

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Figure 5: A piece of NQ drillcore (scale in mm) from hole BODD004 (approximately 13.0m downhole) showing basement fragments in a conglomerate with a matrix dominated by zinc bearing minerals (sphalerite and minor smithsonite)

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Figure 6: The Dikaki Channel showing historic drilling and some of the prospects that emerged from that work.

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Figure 7: Mineralisation within the Dikaki Channel at Kroussou. Down‐dip and along strike continuity has now been confirmed in this area.

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Figure 8: Section A – 640,200mE, across the Dikaki Channel, showing continuity of the mineralization down‐dip.

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Figure 9: Section B – 640,240mE, within the Dikaki Channel, showing continuity of the mineralization down‐dip. Note the width of the intersections from the current programme are much broader than those indicated from historic drilling.

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Figure 10: Section C – 640,320mE, across the Dikaki Channel, showing continuity of the mineralization down‐dip. Note, the entire basin stratigraphy is mineralized.

• *The broad interval of 68.8m @ 1.1% in hole DKDD015 is defined by mineralization >0.2% Zn+Pb with no >3m internal waste.

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Hole ID	Easting (WGS84 32S)	Northing (WGS84 32S)	RL^ (m)	Dip/Azimuth	Max Depth	From (m)	To (m)	Interval	Zn + Pb (%)	Zn (%)	Pb (%)
BODD001	637405	9829420	120	‐90/000	83.5	Visible Mineralisation– Trace to disseminated sphalerite and galena present as carbonate replacement of sedimentarymatrix and cement
BODD002	637460	9829420	120	‐90/000	54.0	Visible Mineralisation– Trace to disseminated sphalerite, galena and minor smithsonite present as replacement of carbonate bearingsedimentarymatrix and cement
BODD003	637960	9828881	120	‐90/000	34.6	Visible Mineralisation– Narrow intervals of disseminated sphalerite and galena present as replacement of carbonate bearingsedimentarymatrix and cement
BODD004	636920	9829595	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	638081	9828960	120	‐90/000	19.5	Visible Mineralisation –Trace to disseminated sphalerite and galena present as replacement of carbonate bearingsedimentarymatrix and cement
BODD006	637719	9828800	120	‐90/000	52.5	Visible Mineralisation– Trace to disseminated sphalerite and galena present as replacement of carbonate bearingsedimentarymatrix and cement
BODD007	636905	9829610	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	637665	9829100	120	‐90/000	25.5	Visible Mineralisation– Trace to disseminated sphalerite and galena present a carbonate bearingsedimentarymatrix and cement				s replacement of
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

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					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
					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	Assays Pending
DKDD019	640,318	9,831,964	110	‐90/000	44.6	Assays Pending

Table 1: Drillholes from the Bouambo South Channel ^ ‐ RL is nominal and is yet to be accurately determined Intervals are >1m @ >1% Zn + Pb 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) duringthe1960’s and1970’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	Trek Drilling Core recoveries are measured using industry standard methods for each run of core drilled.

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Criteria	JORC Code explanation	Commentary
	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.	The use of HQ and NQ diamond core ensures the best recovery under the conditions experienced in the project area. No relationship between recovery and grade has been established. 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.	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 representivityof each length.

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Criteria	JORC Code explanation	Commentary
	 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. _	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.
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.

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Criteria	JORC Code explanation	Commentary
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.
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.

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Criteria	JORC Code explanation	Commentary
		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 to the preparatory and assaying laboratory via DHL. Historic Drilling  Due to the historic nature of the drilling results reported herein, it is not possibleto commentonsample 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 byconglomerates,sandstones and siltstones

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Criteria	JORC Code explanation	Commentary
		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 mineralisationdeposition.
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.

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Criteria	JORC Code explanation	Commentary
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.
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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