TUNGSTEN MINING NL — Capital/Financing Update 2020

Feb 26, 2020

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27 February 2020

ASX ANNOUNCEMENT

Infill drilling continues to demonstrate major polymetallic mineralisation at the Mulgine Trench deposit

Highlights

• Drilling continues to intersect substantial thicknesses of tungsten mineralisation within a 160 to 260 metre wide zone at Mulgine Trench. Drilling has defined mineralised envelopes of:

• 266m at 0.11% WO3 and 215 ppm Mo from 2 metres in MMC445

• 252m at 0.11% WO3 and 475 ppm Mo from surface (0 metres) in MMC481

• 232m at 0.13% WO3 and 400 ppm Mo from 38 metres in MMC482

• Drilling continued to intersect stronger molybdenum mineralisation associated within the 50m to 120m wide Lower Tungsten-Molybdenum Domain within the larger tungsten envelope. Better intersections include: o 52m at 0.21% WO3, 1010 ppm Mo from 192 metres in MMC482 o 64m at 0.12% WO3, 610 ppm Mo from 8 metres in MMC487

• Upon completion of drilling, an updated Mineral Resource estimate is planned to be completed in April 2020.

Commentary

Australian tungsten developer, Tungsten Mining NL (ASX: TGN) (“TGN” or “the Company”) is pleased to report on the latest results from drilling at the Mt Mulgine Project.

On 19 December 2019, the Company announced the updated Mulgine Trench Mineral Resource estimate resulting in a major increase in contained tungsten and molybdenum and highlighting the significance of accessory minerals gold (850,000 ounces) and silver (35 million ounces) (refer ASX announcement 19 December 2019, “Major Mineral Resource Estimate Upgrade for Mulgine Trench Deposit”).

Since completion of reverse circulation (RC) drillholes used for the 2019 Mineral Resource estimate, Tungsten Mining has drilled an additional 145 RC holes for 27,128 metres . This announcement reports the latest assay results received by the Company from 22 January to 21 February 2020, representing 26 RC holes for 5,554 metres .

The Company is pleased to report that the latest assay results - subsequent to the Mineral Resource estimate released in December 2019, continue to be outstanding and demonstate intersections greater that 200 metres in true width.

Tungsten Mining’s CEO Craig Ferrier commented, “There is increasing confidence that the polymetallic mineralisation is remarkably consistent throughout the Trench deposit. In addition, the very substantial widths of mineralisation intersected in the initial phase of drilling are not only being confirmed but are now extending to a 260 metre wide zone. As this exciting phase of exploration comes to an end, we are looking forward to determining the scale of this significant tungsten poly-metallic resource compared to other world class tungsten deposits”.

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Mulgine Trench Deposit: Section A - B (Tungsten)

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

A B
400RL
Orange drill intercept =
Tungsten results from current RC drilling program
192/0.13 = 192 metres @ 0.13% WO3
Red drill intercept =
Molybdenum results from current RC drilling program
Intercepts >0.02% (200ppm) Mo shown
200RL
0 100 200m
2019 Block Model 2019 Block Model
< 0.05% WO�
TGN RC hole - current drill program
Inferred 207Mt @ 0.05 - 0.10% WO�
Drilling from previous program 0.11% WO�, 0.10 - 0.15% WO�
Base of oxida�on Le�: Right: 0.15 - 0.20% WO�
(interpreted) Tungsten intersec�on > 0.05% WO3 Molybdenum intersec�on > 0.02% Mo (200 ppm) (at 0.05% WO� cutoff) 272 ppm Mo >0.20% WO�
----- End of picture text -----

Figure 1. Cross section showing outlines and intersections >0.05% WO� defined by Tungsten Mining drilling against the 2019 Mulgine Trench Mineral Resource. Location of section is displayed on Figure 4.

Page 2

Mulgine Trench Deposit: Section A - B (Molybdenum)

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A B
Orange drill intercept =
Tungsten results from current RC drilling program
Intercepts >0.05% WO3 shown
Red drill intercept =
Molybdenum results from current RC drilling program
110/410 = 110 metres @410ppm Mo
0 100 200m
2019 Block Model -
TGN RC hole - current drill program 2019 Block Model
< 200 ppm Mo
Drilling from previous program 200 - 500 ppm Mo
Base of oxida�on (interpreted) Tungsten intersec�on Le�: Molybdenum intersec�on Right: Inferred 207Mt @ 0.11% Wo�, 272 ppm Mo 800 - 1000 ppm Mo500 - 800 ppm Mo
> 0.05% WO3 > 0.02% Mo (200 ppm) (at 0.05% WO� cutoff) >= 1000 ppm Mo
----- End of picture text -----

Figure 2. Cross section displaying Lower Tungsten-Molybdenum domain defined by molybdenum block model and intersections greater than 200ppm Mo. Location of section is displayed on Figure 4.

Page 3

Discussion of latest assay results

In July 2019, the Company commenced a phased drilling program as part of the Mt Mulgine Project PFS with the objective of upgrading the dominantly Inferred Mulgine Trench Mineral Resource estimate to a dominantly Indicated status.

Latest assay results from the 26 holes being reported here continue to intersect multiple tungsten-molybdenum intersections within a 160 to 260 metre envelope. Better holes that demonstrate the significance of mineralisation include MMC445, MMC481 and MMC482. These holes intersected multiple zones with minor internal waste forming overall mineralised envelopes of 266 metres at 0.11% WO3 and 215 ppm Mo from 2 metres, 252 metres at 0.11% WO3 and 475 ppm Mo from surface (0 metres) and 232 metres at 0.13% WO3 and 400 ppm Mo from 62 metres respectively. All three holes were drilled perpendicular to mineralisation and intervals represent true thicknesses (Figure 1).

Of the 5,554 metres from the 26 holes being reported, 3,728 metres fell within an intersection greater than 3 metres at 0.05% WO3 that, in aggregate terms, averaged 0.12% WO3, 310 ppm Mo, 0.15 ppm Au and 6 ppm Ag. This is consistent with the grade predicted by the 2019 Mineral Resource for blocks greater than 0.05% WO3.

Lower Tungsten-Molybdenum domain : in addition, the drilling continues to intersect significant polymetallic mineralisation associated with a lower Tungsten-Molybdenum domain that forms a 50 to 120 metre thick zone (Table 3 and Figure 2). Better holes from this zone include 52 metres at 0.21% WO3, 1,010 ppm Mo from 192 metres in MMC482 and 64 metres at 0.12% WO3, 610 ppm Mo from 8 metres in MMC487. Again, holes were drilled perpendicular to mineralisation and intervals represent true thicknesses.

A list of better holes from the latest assay results received with substantial zones of tungsten mineralisation from the 0.05% WO3 envelope displaying the bulk tonnage nature of Mulgine Trench is presented in Table 2. Better holes from the lower Tungsten-Molybdenum domain at a 200 ppm Mo lower cut-off are presented in Table 3. Better gold intersections greater than 0.10 ppm Au are reported in Table 4. A complete list of intersections greater than 3 metres at 0.05% WO3, 3 metres at 200 ppm Mo and 10 metres at 0.10 ppm Au are listed in Appendix 1, 2 and 3 respectively.

Mulgine Trench Mineral Resource

Resource consultants, Optiro Pty Ltd (Optiro) were engaged to update the Mulgine Trench Mineral Resource with results from the resource definition drilling commenced in July 2019. The update incorporated the drilling results from first 123 reverse circulation (RC) holes received to 22 November 2019. The revised Mineral Resource estimate for Mulgine Trench as of 19 December 2019 above a 0.05% WO3 reporting cut-off grade is as follows:

Table 1: JORC-2012 Mineral Resource estimates for Mulgine Trench at 0.05% WO3 reporting cut-off grade

Mulgine Trench Inferred Mineral Resource – December 2019	Mulgine Trench Inferred Mineral Resource – December 2019	Mulgine Trench Inferred Mineral Resource – December 2019	Mulgine Trench Inferred Mineral Resource – December 2019	Mulgine Trench Inferred Mineral Resource – December 2019	Mulgine Trench Inferred Mineral Resource – December 2019	Mulgine Trench Inferred Mineral Resource – December 2019	Mulgine Trench Inferred Mineral Resource – December 2019	Mulgine Trench Inferred Mineral Resource – December 2019	Mulgine Trench Inferred Mineral Resource – December 2019
Oxidation	Mt	WO3 %	WO3 (t)	Mo ppm	Mo (t)	Au ppm	Au (Oz)	Ag ppm	Ag (MOz)
Oxide	35	0.11	37,000	280	9,700	0.15	160,000	3	3
Fresh	172	0.11	190,000	271	47,000	0.12	690,000	6	32
Total	207	0.11	230,000	272	56,000	0.13	850,000	5	35

Refer ASX Announcement 19 December 2019, “Major Mineral Resource Estimate Update for Mulgine Trench Deposit”. Note: Totals may differ from sum of individual numbers as numbers have been rounded in accordance with the Australian JORC code 2012 guidance on Mineral Resource reporting.

At a 0.05% WO3 cut-off grade and compared against the previous Mineral Resource estimate, drilling completed by the Company to 22 November 2019 resulted in a 189% increase in tonnes and an increase in contained metal of 97% in tungsten and 211% for molybdenum. In addition, gold and silver (accessory minerals) grades were estimated into the block model and this defined 850,000 ounces of gold and 35 million ounces of silver .

The extent of recovery of these accessory minerals is presently uncertain. Metallurgical test work to confirm recoveries for all minerals is in progress as part of the PFS programme and will be reported as the relevant information becomes available.

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Figure 3. Location of Mulgine Hill and Mulgine Trench Mineral Resources.

The Mt Mulgine Project is located in the Murchison Region of Western Australia, approximately 350km north northeast of Perth. The Company owns 100% of the tungsten and molybdenum rights on a group of tenements that have been the subject of significant previous evaluation for tungsten and molybdenum. The Company also has the rights to all by-products from the mining of tungsten and molybdenum. Near surface Mineral Resources have been delineated at the Mulgine Trench and Mulgine Hill deposits, which have been the subject of ongoing evaluation by the Company (Figure 3).

Tungsten-molybdenum mineralisation at Mt Mulgine is associated with the Mulgine Granite - a high-level leucogranite forming a 2km stock that intrudes the Mulgine anticline (Figure 3). The granite intrudes a greenstone sequence composed of micaceous schists, amphibolite and talc-chlorite schist which were formerly metasediments, mafic and ultramafic rocks respectively. Tungsten-molybdenum mineralisation at Mulgine Trench is associated with altered and quartz veined mafic and ultramafic units that form a 160 metre to 260 metre thick zone over 1.4 kilometres of strike and dips shallowly towards the northwest.

The RC phase of resource definition RC drilling was completed on 21 February and it is anticipated a small number of diamond tails will be completed by the end of February. An updated Mineral Resource estimate using all new drilling data is planned to be prepared in April 2020. This updated block model will be used for pit optimisation and engineering studies as part of the PFS.

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6,774,000 497,000 6,773,500 497,500
Mulgine Trench Project
RC Drilli -
ng February 2020
2019 Mineral Resource
Outline
MMC481
252m at 0.11% WO 3, 475 ppm Mo
MMC482
232m at 0.13% WO 3, 400 ppm Mo Bobby McGee
Pit
MMC486
74m at 0.09% WO 3, 300 ppm Mo
MMC484
MMC483 128m at 0.08% WO 3, 290 ppm Mo
228m at 0.12% WO 3, 305 ppm Mo
MMC439 MMC485
186m at 0.11% WO 3, 350 ppm Mo 110m at 0.11% WO 3, 280 ppm Mo
MMC440
204m at 0.13% WO 3, 230 ppm Mo
MMC443
MMC444 106m at 0.10% WO 3, 480 ppm Mo
186m at 0.10% WO 3, 325 ppm Mo
MMC492
166m at 0.13% WO 3, 285 ppm Mo
MMC446
202m at 0.12% WO 3, 180 ppm Mo
MMC491
182m at 0.11% WO 3, 285 ppm Mo
MMC447
210m at 0.10% WO 3, 220 ppm Mo MMC490
148m at 0.12% WO 3, 320 ppm Mo
MMC489
118m at 0.12% WO 3, 340 ppm Mo
MMC445
266m at 0.11% WO 3, 215 ppm Mo
A B
MMC442
228m at 0.11% WO 3, 245 ppm Mo
MMC495
MMC487
144m at 0.12% WO 3, 300 ppm Mo 88m at 0.11% WO 3, 480 ppm Mo
MMC494
170m at 0.11% WO 3, 365 ppm Mo MMC488
126m at 0.08% WO 3, 340 ppm Mo
MMC493
220m at 0.11% WO 3, 270 ppm Mo
MMC501
MMC497 46m at 0.10% WO 3, 540 ppm Mo
146m at 0.11% WO 3, 340 ppm Mo
MMC502
52m at 0.10% WO 3, 380 ppm Mo
TGN PFS DRILLING RESOURCE AREA
! Results Reporting Outline
!( Previously Reported GOLD PITS
!( Assays Pending Outline
HISTORIC HOLES
GF Tungsten Holes 0 100 200 300
GF Gold Drilling m
6,772,500 495,000 6,772,000 495,500 6,771,500 496,000
GF GF
GF GF GF
!( !( !( GFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGF GF GF GF GF GF GF G
GF GF
GF
GF GFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFF GGFGFGFF GGFGFGFGFGFGFGF GF GFGFGFGFGFGFGFF GGFGFGFGFGFGFGFGFGFGFGF GF GF GF GFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGF GF GFGFGFGFGFGFGFGFGFGFGFGFGFGFGF GF GFGF GF GFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGF GF GFGFGFGFGFGFGFGF GF GFGFGFGFGFGFGFGFGFGFGFGF GF GFGF GF GFGFGFGFGFGFGFGFGF GF GFGFGFGF GF GFGFGFGFGFGFGFGFGF GFGF GFGFGFGFGFGFGFGFGFGFGFGF GF GFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGF GF GFGF GF GF !(!( GF !( GF !(!( GF !(!( !(GFGF !(!(!(!(!(!( GF !( GF GF!(GFGF GF !(!(!(!(!(!( GF !(GFGF!(!(GF GF !( !( !( GF !( GFGFGFGF!(!(!(GFGFGFGFGFGFGFGFGFGF GF GFGFGF GF GF GF GF GF GFGFGF GF GF GF GFGF GFGF GFGF GFGFGF GFGF GF GF GF GF!(GFGF GF GFGF GFGF GFGF GFGFGFGF GF GFGFGFGF GF GF !( GFGFGFGFGF GFGFGFGF GFGFGFGFGFGFGFGFGF GF GF GF GFGF GF GFGFGF GFGF GFGF GF GFGFGFGF GF GFGFGFGFGFGF GF GFGFGFGF GFGF GFGFGFGFGFGFGF GFGFGF GFGFGFGF GFGF GFGF GF GFGFGF GF GF GF GFGF GF GFGF GFGF GF GF GF GFGF GF GF GF GF GFGFGFGF GF GFGF GF GFGF GFGFGF GFGF GFGFGFGF GFGFGFGF GFGF GF GF GF GFGFGFGF GFGFGFGFGF GFGFGFGFGF GFGFGFGFGF GF!(GF GF GF GF GF GF GF GFGFGFGF GFGF GFGFGF GFGF GF GF GFGF GFGF GFGF!( GFGFGF GFGFGF GF GF GFGF GF GFGF GFGFGF GFGFGFGFGF GFGFGFGF GF GF GFGF!(GFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGF!(GFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGF GF GFGFGFGFGFGFGFGFGFGFGFGFGFGF GFGF GFGFGFGFGFGFGFGFGF GF GFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGF GF GF GF GF GF GF GF GF GF G
GF GF GF !( !( !( !( !( !( !( !( GF
GFGFGFGF GFGF GF GF GF GF !( GF !( 482 GFGF !( !( 481 GF !( GF !( !(!( GF !(!( 486 !(!( !( !( GF GFGFGFGF GF GF GF G
!( !( !( !( !( !( !(
GF GF GF
GF GF !( GFGF GF !( GF !( GF !( 484 !(GFGFGF!(GFGFGFGFGFGFGF !( GF !( !( GFGF GF
!( !( !( !( !( !( !( !( !( GF
!( 483 !( !( !( !( !( !( !(!(GFGF!(GFGF
!( GF GF !( GF !( GF GF!( GF !(GF GFGFGFGFGF!(GFGFGFGF !( GF GF GF
GFGF !( 440 !( 439 GF !( GF !( GF !( !( !( GFGF!(GFGFGFGF GF GF!( GFGF !( !( GFGF !( !(GF GF
GF GF GF!(GF !( !( GF !( GF !( !( !( !(
GF GF GF GF GF GFGFGFGFGFGF GFGF GF !(GF GFGF!(GF GF !( GF 485 !( !( GF GF GF GF
GFGF GFGF GFGF !( !( GF!(GF GF!( GF GF!( !( !( !( GF GF
!( !( !( !( !( !( !( !( !( !( !(
GF !( !( GF !( 444 !(!( GF !( !(!( GF!( !(GF !(!( GF GFGF GF!( !( !(!(GF !(!( GF GF GF GF GF GF GF GF
!( 447 !( 446 !( 445 !( 442 !( !( !( !( 443 !( !( !( GF
GF GF !( GF !( GF !( GFGFGFGF !( !( !( !( !( !(
!( !( !( !( !( !( !( !( !( !(
GF
GF !( !( 495 !( !( 494 GF !( 493 !( !( 492 GF !( GF 491 !( !( 490 !( !( 489 GF !( 488 !( !( 487 !( GF GF GF
GF !( !( 497 !( GF!(!( !(!(!( !(!(!( !( !(GF!( !( !(!( !( !( !( !( !( GF !( !( !(!(!( !(!(!(!( !(!( GF !( !( !( !( !( !( 502501 !( !(!(!( !( GF GF!(GFGF GFGFGFGFGF GF GFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGF GF GFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGF GFGFGF GFGFGF GFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGF GGFFGFGFGFGFGFGF
!( GF !( GF !( !(GF !( !( GF GF GFGFGFGFGFGFGF GF GF GF
!( !( !( !( !( GF GF GFGFGFGFGFGFGF GF GFGFGF GF
GF GF GF GFGF GFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGF GF
!( !( !( !( GF GF GFGF GFGFGF GF GF
GF GF GF GF GF
!( !( !( GF!(GF GFGF GF GFGF GF GFGFGF GFGFGFGFGFGFGFGFGFGFGFGFGF GF GFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFF GGFGFGFF GGFGFGFGFGFGFGF GF GFGFGFGF GF
GF GF GF GF GFGFGF GFGFGF GF GF GFGF GF GF
GFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGFGF GF
GFGF
GF
GF GF GF GF
GF
GF
GF
GF GF
§
496,500 6,773,000
6,774,000 497,500
496,000 6,772,500
6,773,500 497,000
495,500 6,772,000
6,773,000 496,500
495,000 6,771,500
----- End of picture text -----

Figure 4. Plan showing location of holes and better intersections at Mulgine Trench. Assay results currently being reported are red circles and assays pending are black circles.

Page 6

Table 2 – Holes with substantial thicknesses of tungsten mineralisation at Trench

	Mulgine Trench Drilling - Significant Tungsten Mineralisation (within 0.05% WO3 envelope)	Mulgine Trench Drilling - Significant Tungsten Mineralisation (within 0.05% WO3 envelope)	Mulgine Trench Drilling - Significant Tungsten Mineralisation (within 0.05% WO3 envelope)	Mulgine Trench Drilling - Significant Tungsten Mineralisation (within 0.05% WO3 envelope)	Mulgine Trench Drilling - Significant Tungsten Mineralisation (within 0.05% WO3 envelope)	Mulgine Trench Drilling - Significant Tungsten Mineralisation (within 0.05% WO3 envelope)	Mulgine Trench Drilling - Significant Tungsten Mineralisation (within 0.05% WO3 envelope)	Mulgine Trench Drilling - Significant Tungsten Mineralisation (within 0.05% WO3 envelope)	Mulgine Trench Drilling - Significant Tungsten Mineralisation (within 0.05% WO3 envelope)
Hole No	MGA Coordinates				Intersections
	Northing (m)	Easting (m)	Depth (m)	Dip/ Azim	From (m)	To (m)	Interval (m)	WO3 (%)	Mo (ppm)
MMC439	6,773,095	496,254	240	-60/135	54	240	186	0.11	350
MMC440	6,773,124	496,225	288	-60/135	82	286	204	0.13	230
MMC442	6,772,791	496,165	252	-60/135	0	228	228	0.11	245
MMC444	6,772,872	496,136	276	-60/135	52	238	186	0.10	325
MMC445	6,772,818	496,138	276	-60/135	2	268	266	0.11	215
MMC446	6,772,847	496,114	280	-60/135	56	258	202	0.12	180
MMC447	6,772,871	496,077	294	-60/135	78	288	210	0.10	220
MMC481	6,773,272	496,417	252	-60/135	0	252	252	0.11	475
MMC482	6,773,300	496,390	270	-60/135	38	270	232	0.13	400
MMC483	6,773,157	496,305	300	-60/135	72	300	228	0.12	305
MMC490	6,772,591	496,136	168	-60/135	0	148	148	0.12	320
MMC491	6,772,617	496,106	186	-60/135	0	182	182	0.11	285
MMC492	6,772,648	496,078	198	-60/135	6	172	166	0.13	285
MMC493	6,772,674	496,053	222	-60/135	2	222	220	0.11	270
MMC494	6,772,704	496,024	240	-60/135	60	230	170	0.11	365
MMC495	6,772,731	495,997	258	-60/135	72	216	144	0.12	300
MMC497	6,772,672	495,994	246	-60/135	58	204	146	0.11	340
2m cone split RC samples were submitted to Bureau Veritas Minerals Pty Ltd, Canning Vale WA for WO3 by XRF and Mo by Laser Ablation ICP-MS. Tungsten mineralisation from 0.05% WO3 envelope with minor zones of interval waste, no top cut grade. True thickness is 90 - 100% of intersection length for inclined holes. Grid coordinates are MGA Zone 50. For a complete list of intersection >3m at 0.05% WO3 refer to Appendix 1.

Table 3 – Better molybdenum intersections in drilling at Mulgine Trench

	Mulgine Trench Drilling - Significant Tungsten-Molybdenum Mineralisation (at 200 ppm Mo cut off)	Mulgine Trench Drilling - Significant Tungsten-Molybdenum Mineralisation (at 200 ppm Mo cut off)	Mulgine Trench Drilling - Significant Tungsten-Molybdenum Mineralisation (at 200 ppm Mo cut off)	Mulgine Trench Drilling - Significant Tungsten-Molybdenum Mineralisation (at 200 ppm Mo cut off)	Mulgine Trench Drilling - Significant Tungsten-Molybdenum Mineralisation (at 200 ppm Mo cut off)	Mulgine Trench Drilling - Significant Tungsten-Molybdenum Mineralisation (at 200 ppm Mo cut off)	Mulgine Trench Drilling - Significant Tungsten-Molybdenum Mineralisation (at 200 ppm Mo cut off)	Mulgine Trench Drilling - Significant Tungsten-Molybdenum Mineralisation (at 200 ppm Mo cut off)	Mulgine Trench Drilling - Significant Tungsten-Molybdenum Mineralisation (at 200 ppm Mo cut off)
Hole No	MGA Coordinates				Intersections
	Northing (m)	Easting (m)	Depth (m)	Dip/ Azim	From (m)	To (m)	Interval (m)	WO3 (%)	Mo (ppm)
MMC439	6,773,095	496,254	240	-60/135	200	234	34	0.12	930
MMC442	6,772,791	496,165	252	-60/135	116	156	40	0.10	530
MMC443	6,772,667	496,267	156	-60/135	64	108	44	0.08	600
MMC445	6,772,818	496,138	276	-60/135	156	176	20	0.22	570
MMC447	6,772,871	496,077	294	-60/135	186	230	44	0.08	530
MMC482	6,773,300	496,390	270	-60/135	192	244	52	0.21	1010
MMC483	6,773,157	496,305	300	-60/135	88	106	18	0.24	400
MMC483					110	136	26	0.18	520
MMC487	6,772,503	496,223	126	-60/135	8	72	64	0.12	610
MMC489	6,772,562	496,166	156	-60/135	60	106	46	0.11	500
MMC490	6,772,591	496,136	168	-60/135	86	130	44	0.10	430
MMC493	6,772,674	496,053	222	-60/135	66	82	16	0.28	410
MMC493					88	126	38	0.17	480
MMC495	6,772,731	495,997	258	-60/135	180	246	66	0.07	410
MMC497	6,772,672	495,994	246	-60/135	160	216	56	0.08	750
2m cone split RC samples were submitted to Bureau Veritas Minerals Pty Ltd, Canning Vale WA for WO3 by XRF and Mo by Laser Ablation ICP-MS. Lower cut-off grade 200 ppm Mo with up to 2m of interval waste, no top cut grade. True thickness is 90 - 100% of intersection length for inclined holes. Grid coordinates are MGA Zone 50.

Page 7

Table 4 – Better gold mineralisation in infill drilling at Mulgine Trench

			Mulgine Trench Drilling - Significant Gold Mineralisation (at 0.10 ppm Au cut off)	Mulgine Trench Drilling - Significant Gold Mineralisation (at 0.10 ppm Au cut off)	Mulgine Trench Drilling - Significant Gold Mineralisation (at 0.10 ppm Au cut off)	Mulgine Trench Drilling - Significant Gold Mineralisation (at 0.10 ppm Au cut off)	Mulgine Trench Drilling - Significant Gold Mineralisation (at 0.10 ppm Au cut off)	Mulgine Trench Drilling - Significant Gold Mineralisation (at 0.10 ppm Au cut off)	Mulgine Trench Drilling - Significant Gold Mineralisation (at 0.10 ppm Au cut off)	Mulgine Trench Drilling - Significant Gold Mineralisation (at 0.10 ppm Au cut off)	Mulgine Trench Drilling - Significant Gold Mineralisation (at 0.10 ppm Au cut off)	Mulgine Trench Drilling - Significant Gold Mineralisation (at 0.10 ppm Au cut off)	Mulgine Trench Drilling - Significant Gold Mineralisation (at 0.10 ppm Au cut off)
Hole No		MGA Coordinates					Intersections
		Northing (m)		Easting (m)	Depth (m)	Dip/ Azim	From (m)	To (m)	Interval (m)	Au (ppm)	**WO3 **	Mo	Ag (ppm)
											(%)	(ppm)
MMC439		6,773,095		496,254	240	-60/135	120	162	42	0.30	0.10	380	12.0
MMC442		6,772,791		496,165	252	-60/135	84	116	32	0.34	0.10	370	8.9
MMC443		6,772,667		496,267	156	-60/135	8	38	30	0.38	0.11	530	5.0
MMC444		6,772,872		496,136	276	-60/135	130	182	52	0.26	0.08	450	8.1
MMC444							186	206	20	0.32	0.10	830	7.4
MMC445		6,772,818		496,138	276	-60/135	160	186	26	0.32	0.25	530	10.7
MMC446		6,772,847		496,114	280	-60/135	138	152	14	0.62	0.08	130	15.7
MMC446							206	244	38	0.30	0.12	250	7.4
MMC483		6,773,157		496,305	300	-60/135	86	124	38	0.21	0.20	410	9.9
MMC484		6,773,025		496,497	180	-55/135	0	32	32	0.24	0.04	200	2.1
MMC484							40	62	22	0.25	0.08	350	7.2
MMC485		6,772,836		496,406	126	-60/135	52	66	14	0.40	0.10	490	6.3
MMC488		6,772,534		496,195	138	-60/135	10	36	26	0.42	0.11	260	4.3
MMC489		6,772,562		496,166	156	-60/135	12	64	52	0.32	0.12	260	6.2
MMC492		6,772,648		496,078	198	-60/135	16	38	22	0.33	0.13	120	9.8
MMC495		6,772,731		495,997	258	-60/135	126	136	10	0.45	0.13	180	12.4
MMC495							180	216	36	0.22	0.09	410	7.5
MMC497		6,772,672		495,994	246	-60/135	150	168	18	0.35	0.13	230	12.6
MMC497							208	234	26	0.28	0.04	230	2.3
MMC501		6,772,416		496,199	120	-60/135	6	38	32	0.54	0.10	600	1.5
MMC502		6,772,389		496,167	120	-60/135	46	72	26	0.65	0.05	150	4.2
MMC502							96	120	24	0.44	0.05	180	1.9
2m cone split RC samples were submitted to Bureau Veritas Minerals Pty Ltd, Canning Vale WA for WO3 by XRF, Mo and Ag by Laser Ablation ICP-MS finish and Au by 40g Fire Assay –ICP-AES finish. Lower cut-off grade 0.10 ppm Au with up to 2m of interval waste, no top cut grade. True thickness is 90 - 100% of intersection length for inclined holes. Grid coordinates are MGA Zone 50.

2m cone split RC samples were submitted to Bureau Veritas Minerals Pty Ltd, Canning Vale WA for WO3 by XRF, Mo and Ag by Laser Ablation ICP-MS finish and Au by 40g Fire Assay –ICP-AES finish. Lower cut-off grade 0.10 ppm Au with up to 2m of interval waste, no top cut grade. True thickness is 90 - 100% of intersection length for inclined holes. Grid coordinates are MGA Zone 50.

Page 8

-ENDS-

For further information: Craig Ferrier Mark Pitts Chief Executive Officer Company Secretary Ph: +61 8 9486 8492 Ph: +61 8 9316 9100 E: craig.ferrier@tungstenmining.com E: mark.pitts@tungstenmining.com.au

This ASX announcement was authorised for release by Craig Ferrier, Chief Executive Officer of Tungsten Mining NL.

Competent Person’s Statement

The information in this report that relates to Exploration Results and Data Quality is based on, and fairly represents, information and supporting documentation prepared by Peter Bleakley, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Bleakley is not a full-time employee of the company. Mr Bleakley is a consultant to the mining industry. Mr Bleakley has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Bleakley consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

The information in this report that relates to the Mulgine Trench Mineral Resource is extracted from the report titled ‘Major Mineral Resource Estimate Update for Mulgine Trench Deposit’ released to the ASX on 19 December 2019, available to view at www.tungstenmining.com. Tungsten Mining have drilled an additional 145 RC holes into the Mulgine Trench Mineral Resource. Interpretation of all new data is proceeding and a revised estimate is planned for release in April 2020. Other than the aforementioned review, the Company confirms that it is not aware of any new information or data that materially affects the information included in the ASX announcement and that all material assumptions and technical parameters underpinning the estimates in original ASX announcements continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original ASX announcements.

About Tungsten Mining

Australian tungsten developer, Tungsten Mining NL is an Australian based resources company listed on the Australian Securities Exchange. The Company’s prime focus is the exploration and development of tungsten projects in Australia.

Tungsten (chemical symbol W), occurs naturally on Earth, not in its pure form but as a constituent of other minerals, only two of which support commercial extraction and processing - wolframite ((Fe, Mn) WO4) and scheelite (CaWO4).

Tungsten has the highest melting point of all elements except carbon – around 3400°C giving it excellent high temperature mechanical properties and the lowest expansion coefficient of all metals. Tungsten is a metal of considerable strategic importance, essential to modern industrial development (across aerospace and defence, electronics, automotive, extractive and construction sectors) with uses in cemented carbides, high-speed steels and super alloys, tungsten mill products and chemicals.

Through exploration and acquisition, the Company has established a globally significant tungsten resource inventory in its portfolio of advanced mineral projects across Australia. This provides the platform for the Company to become a major player within the global primary tungsten market through the development of lowcost tungsten concentrate production.

Page 9

Appendix 1

Intersections greater than 3 metres at 0.05% WO3 in Mulgine Trench Drilling

	Mulgine Trench Drilling - Significant Tungsten Mineralisation (	Mulgine Trench Drilling - Significant Tungsten Mineralisation (	Mulgine Trench Drilling - Significant Tungsten Mineralisation (	Mulgine Trench Drilling - Significant Tungsten Mineralisation (	Mulgine Trench Drilling - Significant Tungsten Mineralisation (	Mulgine Trench Drilling - Significant Tungsten Mineralisation (	>3m at 0.05% WO3 cut off)	>3m at 0.05% WO3 cut off)	>3m at 0.05% WO3 cut off)
Hole No		MGA Coordinates					Intersections
	Northing (m)	Easting (m)	RL (m)	Depth (m)	Dip/ Azim	From (m)	To	Interval (m)	WO3 (%)	Mo (ppm)
							(m)
MMC439	6,773,095	496,254	397.3	240	-60/135	2	10	8	0.08	80
MMC439						58	62	4	0.06	140
MMC439						66	74	8	0.08	60
MMC439						82	110	28	0.19	160
MMC439						114	150	36	0.11	290
MMC439						154	168	14	0.13	560
MMC439						182	186	4	0.17	70
MMC439						190	240	50	0.11	680
MMC440	6,773,124	496,225	396	288	-60/135	6	16	10	0.08	220
MMC440						90	192	102	0.14	200
MMC440						216	232	16	0.09	310
MMC440						240	272	32	0.22	290
MMC440						278	286	8	0.07	490
MMC442	6,772,791	496,165	395.7	252	-60/135	0	124	124	0.13	230
MMC442						130	142	12	0.12	380
MMC442						146	186	40	0.10	310
MMC442						190	196	6	0.13	100
MMC442						198	202	4	0.06	200
MMC442						206	228	22	0.11	100
MMC443	6,772,667	496,267	400	156	-60/135	4	68	64	0.11	430
MMC443						76	90	14	0.13	600
MMC443						96	102	6	0.07	570
MMC443						106	110	4	0.15	390
MMC443						124	128	4	0.10	240
MMC444	6,772,872	496,136	395.1	276	-60/135	0	4	4	0.07	190
MMC444						16	22	6	0.06	20
MMC444						52	176	124	0.11	230
MMC444						180	192	12	0.10	700
MMC444						200	218	18	0.13	770
MMC444						222	234	12	0.16	290
MMC444						258	262	4	0.12	60
MMC444						266	274	8	0.06	100
MMC445	6,772,818	496,138	394.8	276	-60/135	2	18	16	0.11	150
MMC445						24	30	6	0.07	70
MMC445						36	40	4	0.10	120
MMC445						44	54	10	0.12	160
MMC445						60	64	4	0.07	100
MMC445						70	112	42	0.14	90
MMC445						116	132	16	0.18	410
MMC445						144	156	12	0.16	290

Page 10

	Mulgine Trench Drilling - Significant Tungsten Mineralisation (	Mulgine Trench Drilling - Significant Tungsten Mineralisation (	Mulgine Trench Drilling - Significant Tungsten Mineralisation (	Mulgine Trench Drilling - Significant Tungsten Mineralisation (	Mulgine Trench Drilling - Significant Tungsten Mineralisation (	Mulgine Trench Drilling - Significant Tungsten Mineralisation (	>3m at 0.05% WO3 cut off)	>3m at 0.05% WO3 cut off)	>3m at 0.05% WO3 cut off)
Hole No		MGA Coordinates					Intersections
	Northing (m)	Easting (m)	RL (m)	Depth (m)	Dip/ Azim	From (m)	To	Interval (m)	WO3 (%)	Mo (ppm)
							(m)
MMC445						162	192	30	0.23	460
MMC445						198	202	4	0.10	200
MMC445						208	252	44	0.08	130
MMC445						264	268	4	0.10	190
MMC446	6,772,847	496,114	394	280	-60/135	0	22	22	0.08	110
MMC446						36	44	8	0.11	30
MMC446						56	64	8	0.21	110
MMC446						70	198	128	0.12	170
MMC446						202	236	34	0.13	280
MMC446						240	248	8	0.11	170
MMC446						252	258	6	0.12	30
MMC447	6,772,871	496,077	393.3	294	-60/135	78	86	8	0.07	70
MMC447						94	180	86	0.13	110
MMC447						186	212	26	0.10	520
MMC447						228	264	36	0.10	240
MMC447						270	280	10	0.09	70
MMC447						284	288	4	0.25	520
MMC481	6,773,272	496,417	398.6	252	-60/135	0	72	72	0.14	160
MMC481						82	90	8	0.07	110
MMC481						94	138	44	0.16	1000
MMC481						144	152	8	0.15	240
MMC481						154	180	26	0.15	800
MMC481						212	238	26	0.11	400
MMC481						242	248	6	0.07	160
MMC482	6,773,300	496,390	398	270	-60/135	14	18	4	0.06	50
MMC482						22	26	4	0.06	40
MMC482						38	42	4	0.10	20
MMC482						46	112	66	0.10	140
MMC482						116	128	12	0.11	240
MMC482						138	206	68	0.22	510
MMC482						212	248	36	0.12	650
MMC482						254	270	16	0.09	600
MMC483	6,773,157	496,305	396.4	300	-60/135	72	124	52	0.18	300
MMC483						126	154	28	0.12	380
MMC483						158	202	44	0.08	370
MMC483						218	230	12	0.09	400
MMC483						234	240	6	0.10	230
MMC483						246	300	54	0.16	200
MMC484	6,773,025	496,497	404.2	180	-55/135	12	22	10	0.06	250
MMC484						24	28	4	0.08	230
MMC484						40	44	4	0.09	280
MMC484						48	70	22	0.08	590
MMC484						78	82	4	0.09	240

Page 11

	Mulgine Trench Drilling - Significant Tungsten Mineralisation (	Mulgine Trench Drilling - Significant Tungsten Mineralisation (	Mulgine Trench Drilling - Significant Tungsten Mineralisation (	Mulgine Trench Drilling - Significant Tungsten Mineralisation (	Mulgine Trench Drilling - Significant Tungsten Mineralisation (	Mulgine Trench Drilling - Significant Tungsten Mineralisation (	>3m at 0.05% WO3 cut off)	>3m at 0.05% WO3 cut off)	>3m at 0.05% WO3 cut off)
Hole No		MGA Coordinates					Intersections
	Northing (m)	Easting (m)	RL (m)	Depth (m)	Dip/ Azim	From (m)	To	Interval (m)	WO3 (%)	Mo (ppm)
							(m)
MMC484						88	92	4	0.09	90
MMC484						96	106	10	0.13	210
MMC484						124	132	8	0.12	60
MMC484						134	138	4	0.06	150
MMC484						142	162	20	0.14	130
MMC484						168	176	8	0.11	130
MMC485	6,772,836	496,406	408.2	126	-60/135	8	26	18	0.09	430
MMC485						28	60	32	0.09	360
MMC485						70	92	22	0.15	150
MMC485						96	118	22	0.15	110
MMC485						122	126	4	0.11	300
MMC486	6,773,111	496,525	401.8	186	-55/135	18	32	14	0.09	320
MMC486						50	54	4	0.07	170
MMC486						68	80	12	0.07	270
MMC486						84	98	14	0.08	310
MMC486						102	122	20	0.13	280
MMC486						124	142	18	0.11	250
MMC486						152	156	4	0.12	200
MMC487	6,772,503	496,223	411	126	-60/135	0	6	6	0.14	340
MMC487						10	66	56	0.13	620
MMC487						70	82	12	0.07	170
MMC487						84	88	4	0.07	80
MMC487						94	102	8	0.12	60
MMC488	6,772,534	496,195	409.9	138	-60/135	0	48	48	0.09	350
MMC488						54	60	6	0.08	340
MMC488						80	116	36	0.10	230
MMC488						118	126	8	0.06	50
MMC489	6,772,562	496,166	407.2	156	-60/135	0	28	28	0.17	230
MMC489						32	46	14	0.12	560
MMC489						54	108	54	0.12	430
MMC489						112	118	6	0.08	70
MMC489						136	152	16	0.08	30
MMC490	6,772,591	496,136	404	168	-60/135	0	44	44	0.20	250
MMC490						48	54	6	0.11	730
MMC490						74	82	8	0.11	310
MMC490						86	132	46	0.11	420
MMC490						138	144	6	0.07	60
MMC491	6,772,617	496,106	400.8	186	-60/135	0	74	74	0.14	190
MMC491						84	96	12	0.14	280
MMC491						106	110	4	0.12	500
MMC491						116	130	14	0.12	660
MMC491						134	148	14	0.10	290
MMC491						154	164	10	0.09	170

Page 12

	Mulgine Trench Drilling - Significant Tungsten Mineralisation (>3m at 0.05% WO3 cut off)	Mulgine Trench Drilling - Significant Tungsten Mineralisation (>3m at 0.05% WO3 cut off)	Mulgine Trench Drilling - Significant Tungsten Mineralisation (>3m at 0.05% WO3 cut off)	Mulgine Trench Drilling - Significant Tungsten Mineralisation (>3m at 0.05% WO3 cut off)	Mulgine Trench Drilling - Significant Tungsten Mineralisation (>3m at 0.05% WO3 cut off)	Mulgine Trench Drilling - Significant Tungsten Mineralisation (>3m at 0.05% WO3 cut off)	Mulgine Trench Drilling - Significant Tungsten Mineralisation (>3m at 0.05% WO3 cut off)	Mulgine Trench Drilling - Significant Tungsten Mineralisation (>3m at 0.05% WO3 cut off)	Mulgine Trench Drilling - Significant Tungsten Mineralisation (>3m at 0.05% WO3 cut off)	Mulgine Trench Drilling - Significant Tungsten Mineralisation (>3m at 0.05% WO3 cut off)
Hole No	MGA Coordinates				Intersections
	Northing (m)	Easting (m)	RL (m)	Depth (m)	Dip/ Azim	From (m)	To	Interval (m)	WO3 (%)	Mo (ppm)
							(m)
MMC491						170	182	12	0.09	140
MMC492	6,772,648	496,078	397.4	198	-60/135	6	172	166	0.13	280
MMC492						180	184	4	0.07	130
MMC493	6,772,674	496,053	395	222	-60/135	2	18	16	0.08	80
MMC493						22	28	6	0.08	190
MMC493						34	140	106	0.15	290
MMC493						154	172	18	0.08	490
MMC493						176	192	16	0.10	520
MMC493						198	214	16	0.12	140
MMC493						218	222	4	0.11	80
MMC494	6,772,704	496,024	393.1	240	-60/135	14	18	4	0.06	30
MMC494						60	194	134	0.12	380
MMC494						212	218	6	0.07	340
MMC494						222	230	8	0.16	60
MMC495	6,772,731	495,997	392.5	258	-60/135	72	216	144	0.12	300
MMC495						238	242	4	0.10	740
MMC495						254	258	4	0.07	30
MMC497	6,772,672	495,994	392.5	246	-60/135	58	74	16	0.10	100
MMC497						80	134	54	0.15	160
MMC497						138	160	22	0.12	90
MMC497						164	192	28	0.10	1100
MMC497						194	204	10	0.09	420
MMC497						240	246	6	0.07	180
MMC501	6,772,416	496,199	410.2	120	-60/135	0	46	46	0.10	540
MMC501						70	74	4	0.05	120
MMC501						100	110	10	0.28	80
MMC502	6,772,389	496,167	409.6	120	-60/135	0	52	52	0.10	380
MMC502						90	100	10	0.14	260
2m cone split RC samples were submitted to Bureau Veritas Minerals Pty Ltd, Canning Vale WA for WO3 by XRF and Mo by Laser Ablation ICP- MS. Lower cut-off grade 0.05% WO3 with up to 2m of interval waste, no top cut grade. True thickness is 90 - 100% of intersection length for inclined holes. Grid coordinates are MGA Zone 50.

Page 13

Appendix 2

Intersections greater than 2 metres at 200 ppm Mo in Mulgine Trench Drilling

	Mulgine	Trench Drilling - Significant Molybdenum Mineralisation (>3m at 200 ppm Mo cut off)	Trench Drilling - Significant Molybdenum Mineralisation (>3m at 200 ppm Mo cut off)	Trench Drilling - Significant Molybdenum Mineralisation (>3m at 200 ppm Mo cut off)	Trench Drilling - Significant Molybdenum Mineralisation (>3m at 200 ppm Mo cut off)	Trench Drilling - Significant Molybdenum Mineralisation (>3m at 200 ppm Mo cut off)	Trench Drilling - Significant Molybdenum Mineralisation (>3m at 200 ppm Mo cut off)	Trench Drilling - Significant Molybdenum Mineralisation (>3m at 200 ppm Mo cut off)	Trench Drilling - Significant Molybdenum Mineralisation (>3m at 200 ppm Mo cut off)
Hole No		MGA Coordinates					Intersections
	Northing (m)	Easting (m)	RL (m)	Depth (m)	Dip/ Azim	From (m)	To	Interval (m)	WO3 (%)	Mo (ppm)
							(m)
MMC439	6,773,095	496,254	397	240	-60/135	90	98	8	0.21	310
MMC439						110	118	8	0.09	220
MMC439						120	140	20	0.11	410
MMC439						152	166	14	0.11	580
MMC439						170	182	12	0.04	330
MMC439						190	194	4	0.13	220
MMC439						200	234	34	0.12	930
MMC440	6,773,124	496,225	396	288	-60/135	6	12	6	0.09	270
MMC440						110	116	6	0.22	390
MMC440						140	144	4	0.24	350
MMC440						158	166	8	0.13	250
MMC440						174	182	8	0.17	760
MMC440						198	202	4	0.04	450
MMC440						206	224	18	0.06	360
MMC440						236	246	10	0.08	340
MMC440						248	252	4	0.37	1130
MMC440						278	286	8	0.07	490
MMC442	6,772,791	496,165	396	252	-60/135	2	8	6	0.17	230
MMC442						26	30	4	0.26	520
MMC442						88	92	4	0.15	340
MMC442						96	112	16	0.09	560
MMC442						116	156	40	0.10	530
MMC442						164	168	4	0.17	400
MMC442						176	184	8	0.06	520
MMC443	6,772,667	496,267	400	156	-60/135	4	28	24	0.12	690
MMC443						32	40	8	0.13	450
MMC443						64	108	44	0.08	600
MMC443						126	132	6	0.05	270
MMC444	6,772,872	496,136	395	276	-60/135	142	146	4	0.10	240
MMC444						148	170	22	0.08	880
MMC444						182	198	16	0.08	770
MMC444						202	224	22	0.12	740
MMC445	6,772,818	496,138	395	276	-60/135	2	6	4	0.12	390
MMC445						74	78	4	0.13	280
MMC445						118	122	4	0.11	450
MMC445						126	134	8	0.24	520
MMC445						138	152	14	0.11	780
MMC445						156	176	20	0.22	570
MMC445						180	186	6	0.17	450
MMC445						262	266	4	0.04	200

Page 14

	Mulgine	Trench Drilling - Significant Molybdenum Mineralisation (>3m at 200 ppm Mo cut off)	Trench Drilling - Significant Molybdenum Mineralisation (>3m at 200 ppm Mo cut off)	Trench Drilling - Significant Molybdenum Mineralisation (>3m at 200 ppm Mo cut off)	Trench Drilling - Significant Molybdenum Mineralisation (>3m at 200 ppm Mo cut off)	Trench Drilling - Significant Molybdenum Mineralisation (>3m at 200 ppm Mo cut off)	Trench Drilling - Significant Molybdenum Mineralisation (>3m at 200 ppm Mo cut off)	Trench Drilling - Significant Molybdenum Mineralisation (>3m at 200 ppm Mo cut off)	Trench Drilling - Significant Molybdenum Mineralisation (>3m at 200 ppm Mo cut off)
Hole No		MGA Coordinates					Intersections
	Northing (m)	Easting (m)	RL (m)	Depth (m)	Dip/ Azim	From (m)	To	Interval (m)	WO3 (%)	Mo (ppm)
							(m)
MMC445						270	274	4	0.03	240
MMC446	6,772,847	496,114	394	280	-60/135	154	190	36	0.10	390
MMC446						198	210	12	0.07	420
MMC446						216	224	8	0.16	460
MMC446						266	270	4	0.04	370
MMC447	6,772,871	496,077	393	294	-60/135	0	4	4	0.03	290
MMC447						186	230	44	0.08	530
MMC447						238	246	8	0.08	400
MMC447						250	258	8	0.10	370
MMC481	6,773,272	496,417	399	252	-60/135	62	70	8	0.11	800
MMC481						90	124	34	0.09	1300
MMC481						128	134	6	0.48	440
MMC481						138	158	20	0.09	740
MMC481						168	190	22	0.11	1120
MMC481						196	206	10	0.03	280
MMC481						216	232	16	0.08	620
MMC482	6,773,300	496,390	398	270	-60/135	98	102	4	0.07	850
MMC482						118	126	8	0.14	310
MMC482						138	142	4	0.36	290
MMC482						154	174	20	0.14	430
MMC482						184	188	4	0.12	380
MMC482						192	244	52	0.21	1010
MMC482						252	268	16	0.09	640
MMC483	6,773,157	496,305	396	300	-60/135	88	106	18	0.24	400
MMC483						110	136	26	0.18	520
MMC483						142	154	12	0.07	360
MMC483						162	174	12	0.10	470
MMC483						180	216	36	0.05	410
MMC483						222	238	16	0.08	550
MMC483						250	258	8	0.08	460
MMC483						296	300	4	0.37	290
MMC484	6,773,025	496,497	404	180	-55/135	16	42	26	0.05	290
MMC484						48	84	36	0.07	570
MMC484						98	102	4	0.11	330
MMC484						106	114	8	0.04	700
MMC485	6,772,836	496,406	408	126	-60/135	4	26	22	0.08	400
MMC485						30	68	38	0.08	410
MMC485						88	100	12	0.09	250
MMC486	6,773,111	496,525	402	186	-55/135	16	22	6	0.09	580
MMC486						26	30	4	0.08	320
MMC486						42	50	8	0.04	510
MMC486						62	70	8	0.04	500
MMC486						74	90	16	0.07	500

Page 15

	Mulgine	Trench Drilling - Significant Molybdenum Mineralisation (>3m at 200 ppm Mo cut off)	Trench Drilling - Significant Molybdenum Mineralisation (>3m at 200 ppm Mo cut off)	Trench Drilling - Significant Molybdenum Mineralisation (>3m at 200 ppm Mo cut off)	Trench Drilling - Significant Molybdenum Mineralisation (>3m at 200 ppm Mo cut off)	Trench Drilling - Significant Molybdenum Mineralisation (>3m at 200 ppm Mo cut off)	Trench Drilling - Significant Molybdenum Mineralisation (>3m at 200 ppm Mo cut off)	Trench Drilling - Significant Molybdenum Mineralisation (>3m at 200 ppm Mo cut off)	Trench Drilling - Significant Molybdenum Mineralisation (>3m at 200 ppm Mo cut off)
Hole No		MGA Coordinates					Intersections
	Northing (m)	Easting (m)	RL (m)	Depth (m)	Dip/ Azim	From (m)	To	Interval (m)	WO3 (%)	Mo (ppm)
							(m)
MMC486						94	110	16	0.11	370
MMC486						118	130	12	0.09	370
MMC486						144	156	12	0.05	420
MMC487	6,772,503	496,223	411	126	-60/135	0	4	4	0.13	410
MMC487						8	72	64	0.12	610
MMC488	6,772,534	496,195	410	138	-60/135	0	26	26	0.10	530
MMC488						50	94	44	0.06	470
MMC488						96	100	4	0.06	770
MMC489	6,772,562	496,166	407	156	-60/135	2	10	8	0.25	440
MMC489						32	48	16	0.11	520
MMC489						60	106	46	0.11	500
MMC490	6,772,591	496,136	404	168	-60/135	4	10	6	0.27	250
MMC490						18	24	6	0.16	260
MMC490						32	66	34	0.10	470
MMC490						74	80	6	0.08	400
MMC490						86	130	44	0.10	430
MMC491	6,772,617	496,106	401	186	-60/135	0	14	14	0.15	370
MMC491						46	50	4	0.31	230
MMC491						54	64	10	0.10	430
MMC491						74	86	12	0.04	570
MMC491						92	100	8	0.05	490
MMC491						106	136	30	0.10	560
MMC491						144	148	4	0.08	620
MMC492	6,772,648	496,078	397	198	-60/135	68	94	26	0.17	370
MMC492						98	124	26	0.09	340
MMC492						132	160	28	0.12	610
MMC492						164	168	4	0.13	220
MMC492						172	178	6	0.02	420
MMC493	6,772,674	496,053	395	222	-60/135	54	58	4	0.10	240
MMC493						66	82	16	0.28	410
MMC493						88	126	38	0.17	480
MMC493						130	138	8	0.06	250
MMC493						144	150	6	0.03	320
MMC493						156	200	44	0.08	460
MMC493						208	212	4	0.07	240
MMC494	6,772,704	496,024	393	240	-60/135	82	86	4	0.11	360
MMC494						102	112	10	0.19	620
MMC494						130	148	18	0.12	1460
MMC494						156	164	8	0.14	270
MMC494						176	222	46	0.06	360
MMC495	6,772,731	495,997	393	258	-60/135	112	122	10	0.29	390
MMC495						132	136	4	0.17	360
MMC495						148	154	6	0.12	440

Page 16

Mulgine Trench Drilling - Significant Molybdenum Mineralisation (>3m at 200 ppm Mo cut off)

Mulgine Trench Drilling - Significant Molybdenum Mineralisation (>3m at 200 ppm Mo cut off)	Mulgine Trench Drilling - Significant Molybdenum Mineralisation (>3m at 200 ppm Mo cut off)	Mulgine Trench Drilling - Significant Molybdenum Mineralisation (>3m at 200 ppm Mo cut off)	Mulgine Trench Drilling - Significant Molybdenum Mineralisation (>3m at 200 ppm Mo cut off)	Mulgine Trench Drilling - Significant Molybdenum Mineralisation (>3m at 200 ppm Mo cut off)	Mulgine Trench Drilling - Significant Molybdenum Mineralisation (>3m at 200 ppm Mo cut off)	Mulgine Trench Drilling - Significant Molybdenum Mineralisation (>3m at 200 ppm Mo cut off)	Mulgine Trench Drilling - Significant Molybdenum Mineralisation (>3m at 200 ppm Mo cut off)	Mulgine Trench Drilling - Significant Molybdenum Mineralisation (>3m at 200 ppm Mo cut off)	Mulgine Trench Drilling - Significant Molybdenum Mineralisation (>3m at 200 ppm Mo cut off)	Mulgine Trench Drilling - Significant Molybdenum Mineralisation (>3m at 200 ppm Mo cut off)
Hole No	MGA Coordinates				Intersections
	Northing (m)	Easting (m)	RL (m)	Depth (m)	Dip/ Azim	From (m)	To	Interval (m)	WO3 (%)	Mo (ppm)
							(m)
MMC495						160	170	10	0.10	1190
MMC495						180	246	66	0.07	410
MMC497	6,772,672	495,994	393	246	-60/135	96	104	8	0.19	230
MMC497						112	116	4	0.31	560
MMC497						160	216	56	0.08	750
MMC497						220	226	6	0.04	260
MMC501	6,772,416	496,199	410	120	-60/135	0	20	20	0.11	560
MMC501						22	36	14	0.08	810
MMC501						76	80	4	0.04	210
MMC501						94	98	4	0.06	470
MMC502	6,772,389	496,167	410	120	-60/135	0	20	20	0.11	540
MMC502						26	38	12	0.10	320
MMC502						40	52	12	0.11	340
MMC502						96	102	6	0.18	500
2m cone split RC samples submitted to Bureau Veritas Minerals Pty Ltd, Canning Vale WA for WO3 by XRF and Mo by Laser Ablation ICP- MS. Lower cut-off grade 200 ppm Mo with up to 3m of interval waste, no top cut grade. True thickness is 90 - 100% of intersection length for inclined holes. Grid coordinates are MGA Zone 50.

Page 17

Appendix 3

Intersections greater than 10 metres at 0.10 ppm Au in Mulgine Trench Drilling

				Mulgine Trench Drilling - Significant Gold Mineralisation (at 0.10 ppm Au cut off)	Mulgine Trench Drilling - Significant Gold Mineralisation (at 0.10 ppm Au cut off)	Mulgine Trench Drilling - Significant Gold Mineralisation (at 0.10 ppm Au cut off)	Mulgine Trench Drilling - Significant Gold Mineralisation (at 0.10 ppm Au cut off)	Mulgine Trench Drilling - Significant Gold Mineralisation (at 0.10 ppm Au cut off)	Mulgine Trench Drilling - Significant Gold Mineralisation (at 0.10 ppm Au cut off)	Mulgine Trench Drilling - Significant Gold Mineralisation (at 0.10 ppm Au cut off)	Mulgine Trench Drilling - Significant Gold Mineralisation (at 0.10 ppm Au cut off)	Mulgine Trench Drilling - Significant Gold Mineralisation (at 0.10 ppm Au cut off)
Hole No				MGA Coordinates					Intersections
		Northing (m)		Easting (m)	Depth (m)	Dip/ Azim	From (m)	To (m)	Interval (m)	Au (ppm)	WO3	Mo	Ag (pp m)
											(%)	(ppm)
MMC439		6,773,095		496,254	240	-60/135	106	116	10	0.22	0.06	170	7.8
MMC439							120	162	42	0.30	0.10	380	12.0
MMC439							224	234	10	0.14	0.11	930	6.6
MMC440		6,773,124		496,225	288	-60/135	150	170	20	0.20	0.16	190	12.7
MMC440							184	206	22	0.15	0.06	180	6.5
MMC440							218	240	22	0.23	0.07	280	12.0
MMC442		6,772,791		496,165	252	-60/135	8	22	14	0.32	0.16	90	2.0
MMC442							84	116	32	0.34	0.10	370	8.9
MMC442							122	132	10	0.21	0.07	220	5.8
MMC442							218	230	12	0.17	0.11	120	2.4
MMC442							240	252	12	0.22	0.07	90	3.2
MMC443		6,772,667		496,267	156	-60/135	8	38	30	0.38	0.11	530	5.0
MMC443							62	84	22	0.21	0.08	660	5.5
MMC443							102	112	10	0.16	0.08	280	5.7
MMC443							132	144	12	0.30	0.05	120	2.8
MMC444		6,772,872		496,136	276	-60/135	130	182	52	0.26	0.08	450	8.1
MMC444							186	206	20	0.32	0.10	830	7.4
MMC445		6,772,818		496,138	276	-60/135	126	136	10	0.31	0.20	440	8.1
MMC445							148	158	10	0.12	0.16	230	8.3
MMC445							160	186	26	0.32	0.25	530	10.7
MMC445							258	270	12	0.29	0.05	160	3.9
MMC446		6,772,847		496,114	280	-60/135	138	152	14	0.62	0.08	130	15.7
MMC446							206	244	38	0.30	0.12	250	7.4
MMC446							262	272	10	0.31	0.02	250	3.9
MMC447		6,772,871		496,077	294	-60/135	164	180	16	0.26	0.14	150	9.0
MMC447							200	212	12	0.13	0.11	400	8.0
MMC447							252	270	18	0.20	0.08	160	2.4
MMC481		6,773,272		496,417	252	-60/135	8	18	10	0.22	0.12	140	5.7
MMC481							114	140	26	0.19	0.21	1450	13.4
MMC481							162	180	18	0.24	0.17	900	17.0
MMC481							216	226	10	0.14	0.08	700	10.4
MMC482		6,773,300		496,390	270	-60/135	34	48	14	0.21	0.07	10	3.3
MMC482							70	80	10	0.29	0.13	220	17.2
MMC482							98	110	12	0.25	0.07	330	4.7
MMC482							146	160	14	0.17	0.09	340	5.8
MMC483		6,773,157		496,305	300	-60/135	86	124	38	0.21	0.20	410	9.9
MMC483							132	142	10	0.44	0.18	310	12.2
MMC484		6,773,025		496,497	180	-55/135	0	32	32	0.24	0.04	200	2.1
MMC484							40	62	22	0.25	0.08	350	7.2
MMC484							96	112	16	0.23	0.10	440	4.1
MMC485		6,772,836		496,406	126	-60/135	52	66	14	0.40	0.10	490	6.3
MMC485							108	126	18	0.16	0.10	130	4.5

Page 18

			Mulgine Trench Drilling - Significant Gold Mineralisation (at 0.10 ppm Au cut off)	Mulgine Trench Drilling - Significant Gold Mineralisation (at 0.10 ppm Au cut off)	Mulgine Trench Drilling - Significant Gold Mineralisation (at 0.10 ppm Au cut off)	Mulgine Trench Drilling - Significant Gold Mineralisation (at 0.10 ppm Au cut off)	Mulgine Trench Drilling - Significant Gold Mineralisation (at 0.10 ppm Au cut off)	Mulgine Trench Drilling - Significant Gold Mineralisation (at 0.10 ppm Au cut off)	Mulgine Trench Drilling - Significant Gold Mineralisation (at 0.10 ppm Au cut off)	Mulgine Trench Drilling - Significant Gold Mineralisation (at 0.10 ppm Au cut off)	Mulgine Trench Drilling - Significant Gold Mineralisation (at 0.10 ppm Au cut off)	Mulgine Trench Drilling - Significant Gold Mineralisation (at 0.10 ppm Au cut off)	Mulgine Trench Drilling - Significant Gold Mineralisation (at 0.10 ppm Au cut off)
Hole No		MGA Coordinates					Intersections
		Northing (m)		Easting (m)	Depth (m)	Dip/ Azim	From (m)	To (m)	Interval (m)	Au (ppm)	WO3	Mo	Ag (pp m)
											(%)	(ppm)
MMC486		6,773,111		496,525	186	-55/135	12	34	22	0.20	0.07	270	15.2
MMC486							120	134	14	0.26	0.11	310	8.9
MMC486							164	186	22	0.15	0.04	120	7.8
MMC487		6,772,503		496,223	126	-60/135	22	38	16	0.19	0.10	420	3.4
MMC487							60	72	12	0.23	0.22	440	5.1
MMC488		6,772,534		496,195	138	-60/135	10	36	26	0.42	0.11	260	4.3
MMC488							50	60	10	0.14	0.06	420	8.7
MMC489		6,772,562		496,166	156	-60/135	12	64	52	0.32	0.12	260	6.2
MMC489							86	96	10	0.20	0.08	510	7.0
MMC490		6,772,591		496,136	168	-60/135	18	40	22	0.27	0.19	270	6.3
MMC490							58	74	16	0.18	0.04	260	6.4
MMC491		6,772,617		496,106	186	-60/135	50	66	16	0.34	0.12	310	9.1
MMC491							80	94	14	0.28	0.12	490	13.0
MMC491							172	182	10	0.13	0.10	160	2.1
MMC492		6,772,648		496,078	198	-60/135	16	38	22	0.33	0.13	120	9.8
MMC492							106	120	14	0.24	0.11	330	7.4
MMC493		6,772,674		496,053	222	-60/135	80	94	14	0.38	0.17	400	9.8
MMC493							156	170	14	0.14	0.08	580	7.4
MMC494		6,772,704		496,024	240	-60/135	92	108	16	0.32	0.19	250	14.1
MMC494							174	184	10	0.16	0.12	290	9.9
MMC494							188	198	10	0.15	0.06	330	6.0
MMC494							202	216	14	0.16	0.04	420	4.4
MMC495		6,772,731		495,997	258	-60/135	126	136	10	0.45	0.13	180	12.4
MMC495							180	216	36	0.22	0.09	410	7.5
MMC495							218	232	14	0.16	0.04	290	3.4
MMC497		6,772,672		495,994	246	-60/135	104	114	10	0.17	0.22	280	8.9
MMC497							150	168	18	0.35	0.13	230	12.6
MMC497							172	186	14	0.19	0.08	1600	6.2
MMC497							188	204	16	0.21	0.08	460	5.2
MMC497							208	234	26	0.28	0.04	230	2.3
MMC501		6,772,416		496,199	120	-60/135	6	38	32	0.54	0.10	600	1.5
MMC502		6,772,389		496,167	120	-60/135	46	72	26	0.65	0.05	150	4.2
MMC502							76	90	14	0.22	0.02	210	1.3
MMC502							96	120	24	0.44	0.05	180	1.9
2m cone split RC samples were submitted to Bureau Veritas Minerals Pty Ltd, Canning Vale WA for WO3 by XRF, Mo and Ag by Laser Ablation ICP-MS finish and Au by 40g Fire Assay –ICP-AES finish. . Lower cut-off grade 0.10 ppm Au with up to 2m of interval waste, no top cut grade. True thickness is 90 - 100% of intersection length for inclined holes. Grid coordinates are MGA Zone 50.

2m cone split RC samples were submitted to Bureau Veritas Minerals Pty Ltd, Canning Vale WA for WO3 by XRF, Mo and Ag by Laser Ablation ICP-MS finish and Au by 40g Fire Assay –ICP-AES finish. . Lower cut-off grade 0.10 ppm Au with up to 2m of interval waste, no top cut grade. True thickness is 90 - 100% of intersection length for inclined holes. Grid coordinates are MGA Zone 50.

Page 19

Appendix 4 - JORC Code Reporting Criteria

Section 1: Sampling Techniques and Data

Criteria	JORC Code explanation Commentary
Sampling techniques	Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. During August 2016, TGN drilled 9 RC holes for 476 metres and one large diameter (PQ) diamond hole for 31.6 metres at Mulgine Trench to test tungsten mineralisation adjacent to and beneath the Bobby McGee pit In September 2018, TGN drilled 4 PQ diamond holes (528.2 m) into the Trench deposit to collect metallurgical samples and twin RC and diamond holes. From 12 July 2019 to present, the Company has drilled 279 RC holes for 47,809 metres. At the time of writing, Tungsten Mining had received results from 233 of the 279 RC holes and results reported in this announcement relate to 26 of these holes.
	Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used TGN drillhole collar locations were picked up by a licenced surveyor using a Topcon GNSS with manufacturer’s specifications of +/- 10mm N,E and +/15mm Z. Downhole surveying was measured by the drill contractors using a Champ North Seeking solid state gyroscopic system in the drill rods. Accuracy is ±0.75° for azimuth and ±0.15° for inclination. Certified standards were inserted into the sample sequences in according to TGN QAQC procedures. Duplicate samples were collected to check repeatability of sampling and variability or nugget effect for tungsten mineralisation. Blanks were inserted into the sample stream behind high- grade samples to test contamination. Results from this QAQC sampling were considered good.
	Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information Given the style of mineralisation present at Mulgine Trench, Tungsten Mining ran an orientation survey to determine the acceptability of 2m sampling intervals. From this orientation work, it was concluded there was no discernible evidence that increasing the downhole sample interval from one to two metres materially impacts either accuracy or precision of the assay results. RC holes MMC265 – MMC291 and MMC301 – MMC309 were sampled at 1 m intervals from the cyclone and split using a cone splitter immediately beneath the cyclone to produce two representative 3 - 5 kg 1m-samples in calico bags. For all remaining holes, samples were split using a cone splitter to produce two representative 3 - 5 kg 2m-samples in calico bags. The bulk reject material was collected at 1 m intervals from the cyclone and placed on the ground for geological logging. The cone splitter was cleaned by hosing with pressurised air to eliminate sample contamination. Two samples were collected; one is used for analysis and the other is retained as a reference or for possible re-analysing / QAQC activities. Samples from the current drilling programme were submitted to Bureau Veritas Minerals Pty Ltd of Canning Vale, WA, for a standard XRF Tungsten Suite and 40 gram fire assay for gold analysis. A second suite of elements including silver and molybdenum were analysed by Laser Ablation ICP-MS.
Drilling techniques	Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc). TGN completed 279 RC drillholes with depths ranging from 6 to 310 m, averaging 171 m. RC drilling used a face-sampling hammer that produced a nominal 140 mm diameter hole. TGN have also completed 5 diamond PQ holes with depths ranging from 31.6 to 237 m, averaging 125 m. TGN diamond and RC holes were surveyed in-rods at 20 - 30 m intervals using a North Seeking gyroscopic probe.

Page 20

Criteria	JORC Code explanation Commentary
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed RC and diamond recovery was visually assessed, recorded on drill logs and considered to be acceptable.
	Measures taken to maximise sample recovery and ensure representative nature of the samples RC samples collected by TGN were visually checked for recovery, moisture and contamination. A cyclone and cone splitter was used to provide a uniform sample and these were routinely cleaned. The drill contractor blew out the hole at the beginning of each drill rod to remove excess water and maintain dry 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. Ground conditions for RC drilling were good and drilling returned consistent size samples. All RC samples were dry and contamination would be minimal. No significant bias is expected, and any potential bias is not considered material at this stage.
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. TGN uses specially designed drill logs for tungsten mineralisation to capture the geological data. During logging, part of the RC sample is washed, logged and placed into chip trays. During the 2019/2020 drilling programme, a second set of partially sieved material is stored in chip trays for mineral identification by a near-IR spectral scanner (PANalytical TerraSpec Halo). The washed chip trays are stored in sea containers on site and Halo chip trays stored at TGN’s Gnangara warehouse. All drill data is digitally captured and stored in a central database.
	Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. RC chip logging included records of lithology, mineralogy, textures, oxidation state and colour. Key minerals associated with tungsten mineralisation and veining are recorded.
	The total length and percentage of the relevant intersections logged All TGN drill holes were logged in full.
Sub-sampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken. PQ metallurgical core was cut in half and then quartered. 1 metre samples of quarter core for PQ holes were submitted to Nagrom for XRF analysis.
	If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. TGN RC samples were collected on the rig by a cyclone. Material was split by a cone splitter immediately beneath the cyclone to produce two 3 - 5 kg samples.
	For all sample types, the nature, quality and appropriateness of the sample preparation technique. Samples from the current drilling programme were submitted to Bureau Veritas Minerals Pty Ltd of Canning Vale, WA and dried, split if over 2.5 kg and pulverised in robotic vibrating disc pulveriser.
	Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. TGN’s QAQC procedures included the insertion of field duplicates, blanks and commercial standards. Duplicates, blanks and standards were inserted at intervals of one in 25. Geological logging and UV lamping was used to ensure duplicate and blank samples were from mineralised intervals.
	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. TGN inserted 1 in 25 RC field duplicates taken from 1 m or 2 m cone split samples at the rig. Repeatability in RC duplicate samples was found to be acceptable. Four PQ diamond holes and six RC hole have twined other RC and diamond drilling at Mulgine Trench. These holes intersected similar grade and thickness of WO3, Mo, Au and Ag mineralisation at target depths. Individual high grade zones did demonstrate the particulate or nuggetty nature of mineralisation present.

Page 21

Criteria	JORC Code explanation Commentary
	Whether sample sizes are appropriate to the grain size of the material being sampled. Assays from duplicate samples showed a low - moderate scatter (R20.82) for tungsten with no systematic bias. This is consistent with the style of mineralisation present, coarse grained scheelite associated with quartz veining. Molybdenum and silver results from duplicate samples showed good correlation with an R2of 0.94 and 0.92 respectively. Gold results from duplicate samples showed a higher degree of scatter with an R2of 0.63. This is interpreted to be related to the nugget effect or particulate nature of gold mineralisation at Mulgine Trench. The larger sample size of approximately 40 kg per metre collected by RC drilling is considered more appropriate than small diameter diamond holes and therefore sample sizes are considered to be acceptable to accurately represent the tungsten, molybdenum, silver and gold mineralisation present at Mulgine Trench
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. Tungsten Mining assays samples for a tungsten suite by XRF. XRF has proven to be a very accurate analytical technique for a wide range of base metals, trace elements and major constituents found in rocks and mineral materials. Glass fusion XRF is utilised for assaying, since it provides good accuracy and precision; it is suitable for analysis from very low levels up to very high levels. Gold was assayed by 40g charge lead collection fire assay with silver used as secondary collector. Fire assay is regarded as the preferred method for quantitative gold analysis. For Phase 1 drilling, a suite of 40 elements including tungsten, molybdenum and silver were assayed by Fused Bead Laser Ablation ICP-MS. The XRF disk is laser ablated and the gas formed is introduced to the Mass Spectrometer, providing an ideal platform for analysis. The Fused Bead Laser Ablation ICP-MS technique is total digestion of the sample achieved through the fusion process, so quantifiable elemental data is produced at detection limits that are equal if not better than acid digest techniques. Phase 2 holes (including results currently being reported ) were assayed for the tungsten suite by XRF, gold by fire assay and a reduced suite of elements including molybdenum and silver by Fused Bead Laser Ablation ICP-MS.
	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. A handheld magnetic susceptibility meter (KT-10) was used to measure magnetic susceptibility for every sample. Data is stored in the database. A near-IR spectral scanner (PANalytical TerraSpec Halo) was utilised for mineral identification to assist in defining geometallurgical domains in the Phase 1 2019 drilling programme. Partially sieved material was collected, stored in chiptrays and scanned.
	Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established. Field QAQC procedures for TGN sampling included the insertion of blanks, commercial standards and duplicates at the rate of one in 25 samples. Assay results have demonstrated acceptable levels of accuracy and precision.
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel. No independent personnel have verified intersections in drilling. TGN personnel have conducted a review of all assaying by visual inspection of UV core photography and UV estimates for RC drilling against the drill database.
	The use of twinned holes. TGN drilled four PQ diamond holes and 7 RC holes that twinned existing RC and diamond drilling at Mulgine Trench. Twin holes intersected similar widths and grades for mineralisation. High grade zones were however found to be variable or nuggety.

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Criteria	JORC Code explanation Commentary
	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Logging conducted by TGN takes place at the drilling site. Ruggedised computers are used to record the logging for RC samples. Diamond logging is onto paper drill logs and data entered in Perth. A set of standard Excel templates are used to capture the data. Data was validated on-site by the supervising geologist before being sent to Perth office. It was then loaded into Micromine and validated for logging codes, missing intervals, overlapping intervals, hole location and downhole surveying. Validated data is then loaded into a relational database for storage.
	Discuss any adjustment to assay data. No adjustments were made, other than for values below the assay detection limit which have been entered as half of the detection limit.
Location of data points	Accuracy and quality of surveys used to locate drillholes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. Holes drilled by TGN were picked up by a licenced surveyor using a Topcon GNSS with manufacturer’s specifications of +/- 10mm N,E and +/15mm Z. Downhole surveying of TGN holes was measured by the drill contractors using a North Seeking solid state gyroscopic system in the drill rods. Accuracy is ±0.75° for azimuth and ±0.15° for inclination.
	Specification of the grid system used. Geocentric Datum of Australia 1994 (GDA94) - Zone 50.
	Quality and adequacy of topographic control. High resolution aerial photography and digital elevation survey was flown by Geoimage Pty Ltd on 18 February 2018 with expected height accuracy of +/- 0.5 m.
Data spacing and distribution	Data spacing for reporting of Exploration Results. Drill spacing has been closed to a 40 metre by 40 metre pattern over areas of interest. Strike extensions are tested by 160 metres spaced section with 40 to 80 metre spaced holes.
	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. The drill spacing at Mulgine Trench was sufficient to define an Inferred Mineral Resource reported in December 2019. TGN have drilled an additional 145 holes into Mulgine Trench since this estimate.
	Whether sample compositing has been applied. For non-mineralised intervals 1 m samples collected from the cyclone were composited into 5 m and later 6 m composite samples for RC drilling. Where composite samples have anomalous tungsten and/or molybdenum, the 1 m or 2 m cone split samples have been submitted for analysis.
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. The orientation of drilling was designed to intersect mineralisation perpendicular to the dominant vein geometry and mineralised stratigraphy. Holes drilled at -60 degree towards the southeast intersect dominant vein sets and stratigraphy at 90 degrees.
	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. Structural logging of diamond core has confirmed that drill orientation did not introduce any bias regarding the orientation of mineralised veining.
Sample security	The measures taken to ensure sample security. Samples collected by TGN were securely sealed and stored on site and delivered by courier to the laboratory in Perth. Sample submissions forms used to track samples were emailed directly to the laboratory.

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	Criteria	JORC Code explanation	Commentary
			Internal Company audits for both historical and current
			Company drilling are carried out to ensure drilling and
			sampling techniques are consistent with industry standards,
			consistency of data is validated by Tungsten Mining while
			loading into the database. Any data which fails the database
			constraints and cannot be loaded is returned for validation.
			Global consistency is audited by plotting sections using the
			database and reconciling assays.
	Audits or reviews	The results of any audits or reviews of sampling techniques and data.	During drilling the Company inserts standards, duplicates and blanks into the sample stream. These QAQC samples are periodically reviewed and any issues addressed. Tungsten
			Mining also conducted a thorough review of historical data that
			included checking of assay results, twinning of holes and
			checking drilling against historical reports. Any errors
			identified were corrected in the database.
			For TGN drilling, assay results are visually compared against
			UV estimates for tungsten and visual estimates.

Section 2: Reporting of Exploration Results

Criteria	JORC Code explanation Commentary
Mineral tenement and land tenure status	Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. The Mulgine Trench prospect is located on Mining Lease M59/425-I covering an area of approximately 9.4 km2. TGN has 100% of the mineral rights for tungsten and molybdenum and to all by-products from the mining of tungsten and molybdenum. The current registered holder of the tenement is Minjar Gold Pty Ltd. The normal Western Australian state royalties apply. The Federal Court has determined that Native Title does not exist over the area of M59/425-I in relation to Badamia claim (Federal Court # WAD6123/1998). M59/425-I is located on former pastoral lease ‘Warriedar Station’ which has been purchased by the State Government and now forms part of the Karara Rangeland Park. Other operating mines are also located within the Park boundary.
	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. The tenements are in good standing at the time of reporting. Mid-West Tungsten Pty Ltd, a wholly owned subsidiary of Tungsten Mining NL, holds a consent caveat over tenement M59/425-I.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties. Tungsten Drilling Drilling initially focused on tungsten mineralisation with Minefields and ANZECO drilling 77 NQ/BQ diamond drillholes (8,703 m DD, 1,871 m pre-collars) in the 1970s and 1980s. In 2014, Minjar Ltd drilled 27 RC exploration hole (1,680 m) northwest of the Bobby McGee and 160 RC holes (5,712 m) for grade control in the Bobby McGee pit. Hazelwood Resources Ltd assayed these holes for their standard XRF tungsten suite. Gold Drilling In 1993, focus then turned onto gold exploration and multiple phases of dominantly RC drilling and minor diamond drilling was completed by numerous companies to present. A total of 342 RC holes (19,429 m) and 3 diamond holes (828 m) have been drilled to evaluate gold at Mulgine Trench. During mining, an additional 279 RC grade control holes (8,982 m) were drilled at the Camp and Highland Chief pits. Exploration drilling consisting of 422 RAB (11,374 m) holes was drilled across the Trench Deposit and strike extensions. TGN have conducted a thorough review of all drilling and sampling procedures.

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Criteria	JORC Code explanation Commentary
Geology	Deposit type, geological setting and style of mineralisation. Mulgine Trench Stratigraphy for the Mulgine Trench deposit consists of a hangingwall amphibolites, the main mineralised horizon and footwall greisen of the Mulgine Granite. The mineralised horizon is a 160 to 260 metre thick zone that is delineated over 1.4 kilometres of strike and dips shallowly (25 – 40 degrees) towards the northwest. Tungsten and molybdenum mineralisation dominantly occurs as scheelite and molybdenite in foliation parallel veins or adjacent to vein margins or as coatings on fractures or disseminated in greisen units/veins.
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: • easting and northing of the drill hole collar • elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar • dip and azimuth of the hole • down hole length and interception depth • hole length. Collar data for drilling is included in Appendix A.
Data aggregation methods	In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated. To highlight the extent of mineralisation present at Mulgine Trench, the 0.05% WO3mineralised envelope is reported in Table 1 that includes minor zones of internal waste (<10m) relative to the entire mineralised package. WO3and Mo grades are reported separately for intersections. Intersections were reported using a lower cut-off grade of 0.05% WO3. WO3and Mo grades are reported separately for intersections. No top cut and up to 2m of internal waste were included. A second set of intersections were reported using a lower cut- off grade of 200 ppm Mo. Again WO3and Mo grades are reported separately for intersections. No top cut and up to 2m of internal waste were included. A third set of intersections were reported using a lower cut-off grade of 0.10 ppm Au. WO3, Mo and Ag grades are reported separately for these intersections. Only intersections greater than 10m at 0.10 ppm Au were reported. No top cut and up to 2m of internal waste were included.
	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. For reporting of tungsten intersections, all assays >1.0% WO3 are reported beneath the relevant intersection. Interval zones of waste up to 2m wide are included in intersections provided the adjacent zone and waste are >0.05% WO3.
	The assumptions used for any reporting of metal equivalent values should be clearly stated. Not applicable, no metal equivalents were quoted.
Relationship between mineralisation widths and intercept lengths	These relationships are particularly important in the reporting of Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’). Inclined holes will intersect mineralisation at between 80° - 90°. True thickness will be between 90 to 100% of the intersection thickness for inclined holes.
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 diagrams in the body of text.

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	Criteria	JORC Code explanation	Commentary
	Balanced reporting		All Intersections greater than 3m at 0.05 WO3at Mt Mulgine
			are reported and holes with no significant mineralisation are
		Where comprehensive reporting of all Exploration	documented in Appendix 1.
		results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration	A second list of all Intersections greater than 3m at 200 ppm Mo at Mt Mulgine is reported in Appendix 2.
		Results.	A third list of all Intersections greater than 10m at 0.10 ppm
			Au at Mt Mulgine is reported in Appendix 3.
	Other substantive		Mineralogical and metallurgical studies on the Mulgine Trench
	exploration data		deposit show scheelite well liberated at coarse sized fractions
			resulting in good recoveries via a simple gravity circuit.
			Molybdenum was liberated at finer sized fractions and
			showed high recovery and upgrades through a flotation
			circuit. Comminution work showed all ore types were of
			moderate to high hardness.
		Other exploration data, if meaningful and material,	An extensive geo-metallurgical program has commenced to
		should be reported including (but not limited to):	understand the range of ore types in the Trench deposit and
		geological observations; geophysical survey results;	their volumes. This will provide the basis to produce a
		geochemical survey results; bulk samples – size and	representative master composite to complete the
		method of treatment; metallurgical test results; bulk	metallurgical testwork program.
		density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	Metallurgical test work has shown that the ore as represented by the samples tested, should be readily concentrated to exceed the target of +60% WO3concentrate. Levels of
			potential deleterious contaminants reporting to the final
			concentrate are expected to be below the minimum threshold
			for specific APT conversion processes.
			Evidence gathered to date show that no major metallurgical
			problems are expected to affect the overall viability of the
			project.
	Further work	The nature and scale of planned further work (e.g.	TGN are currently undertaking a Pre-Feasibility Study on the
		tests for lateral extensions or depth extensions or	greater Mt Mulgine Project incorporating the Mulgine Trench
		large-scale step-out drilling).	and Mulgine Hill deposits. Planned activities include:
		Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this	• Resource definition and infill drilling of the Trench deposit;
		information is not commercially sensitive	• Mine design and optimisation of the mining
			schedule, geotechnical studies and definition of
			maiden ore reserves;
			• Metallurgical test work on the material from
			Trench;
			• Process design and engineering for the tungsten
			processing plant and associated non-process
			infrastructure;
			• Assessment of existing and exploration for
			additional ground water resources; and
			• Completion of native flora, fauna, aboriginal
			heritage surveys and regulatory approval
			processes.

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