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UNICO SILVER LIMITED Capital/Financing Update 2020

Dec 14, 2020

65986_rns_2020-12-14_afda1a73-d7f3-44b3-9c4b-6122eeaccf60.pdf

Capital/Financing Update

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ASX Announcement

Further high-grade results at Mia

15 December 2020

Highlights

  • Phase 2 drilling at Mia (14 holes for 1485m) returns further high-grade mineralisation, including the highest silver grades at the project to date. Results include

  • DDH-MI20-030: 11.2m at 4.2gpt Au, 535gpt Ag from 51m, including 1.1m at 21gpt Au, 3119gpt Ag from 59.1m

o DDH-MI20-034: 9m at 11gpt Au, 814gpt Ag from 44m, including

3.4m at 28gpt Au, 1843gpt Ag from 49.1m

  • This drilling extends high-grade mineralisation 25m to the east and is open at depth and down-plunge to the west.

  • An orientation Electrical Tomography (ET) geophysical survey was completed at Mia and has identified a strong chargeability anomaly (34mV.V) north of current drilling potentially associated with a second parallel structure and structural feeder zone.

  • A deeper diamond hole (total depth 200m) is underway to test the target.

  • Phase 2 of drilling at Florencia (14 holes for 1502m) has been completed. The program was designed to test three mineralised structures including follow up of hole DRC-FL20-016 which returned 3m at 8.2gpt Au, 26gpt Ag from 60m.

  • Follow up rock chip sampling (n=11) at Emilia Este has returned exceptional high-grade gold and silver results of up to 82gpt Au and 1444gpt Ag over an 80m strike.

  • Two scout diamond holes totaling 187 metres have been completed at Emilia Este.

  • A significant number of gold and silver assay results remain outstanding at Mia (6 holes), Florencia (14 holes) and Emilia (2 holes) with additional results due before Christmas.

E: [email protected]

Non-Executive Director

ASX Announcement

Managing Director Todd Williams states

Drilling at Mia continues to deliver shallow high-grade gold and silver mineralisation, with the current batch of results returning the highest silver grades at the Project to date. We are encouraged by the results of the expanded sample program at Emilia Este which is evolving as an exciting new discovery. The recent high-resolution Electrical Tomography geophysical survey at Mia has proven effective in resolving the highgrade Lara Vein at Mia and highlights the potential for additional shoots on parallel structures, which is common in these systems.

E2 Metals (E2 or the Company) is pleased to provide the following exploration update for the Conserrat project (Figure 1) located in the Santa Cruz province of Argentina. Conserrat is host to a new greenfields gold and silver discovery centered 25 kilometers along trend from AngloGold Ashanti’s Cerro Vanguardia mine (historical and current reserves 8.9Moz Au, 137Moz Ag).

==> picture [473 x 460] intentionally omitted <==

Figure 1: Conserrat Project

Further high-grade results from Mia E2 Metals Limited • www.e2metals.com.au 1

ASX Announcement

Table 1: Mia, Florencia, Patricia and Emilia Este drill hole collars Coordinates stated in WGS84 UTM 19S

Prospect Hole Easting (mE) Northing (mN) RL (m) Dip (°) Azimuth (°)
Depth (m)
Mia DDH-MI20-030 535019 4645901 302 -60 180 101.4
DDH-MI20-031 534994 4645900 302 -60 180 101
DDH-MI20-033 534970 4645900 303 -60 180 141.6
DDH-MI20-034 535044 4645900 301 -60 180 101
DDH-MI20-038 534996 4645951 301 -60 180 150
DDH-MI20-040 535045 4645950 299 -60 180 150
DDH-MI20-047 534914 4645948 299 -60 180 146
DDH-MI20-049 534818 4645896 307 -60 180 98
DRC-MI20-039 535044 4645871 303 -60 180 72
DRC-MI20-041 534969 4645874 305 -60 180 56
DRC-MI20-042 534993 4645870 307 -60 180 65
DRC-MI20-043 534815 4645901 306 -60 180 78
DDH-MI20-036 535019 4645926 298 -60 180 125
DDH-MI20-044 534912 4645901 305 -60 180 100
Patricia DRC-PA20-028 534033 4646487 305 -60 217 92
DRC-PA20-029 534194 4646490 298 -60 217 96
DRC-PA20-032 534176 4646469 301 -60 217 120
DRC-PA20-035 534096 4646446 307 -60 217 84
DRC-PA20-037 534156 4646517 300 -60 217 54
Florencia DRC-FL20-045 533331 4647196 307 -60 200 102
DRC-FL20-046 533319 4647159 306 -60 200 100
DRC-FL20-048 533256 4647273 307 -60 200 100
DRC-FL20-050 533440 4647190 309 -60 200 100
DDH-FL20-051 533380 4647336 305 -60 200 110
DRC-FL20-053 533495 4647340 307 -60 200 78
DRC-FL20-054 533481 4647301 306 -60 200 102
DDH-FL20-055 533333 4647329 303 -60 200 122
DRC-FL20-056 533469 4647266 306 -60 200 100
DDH-FL20-057 533355 4647260 305 -60 200 140
DRC-FL20-059 533593 4647319 307 -60 200 108
DRC-FL20-060 533593 4647318 307 -60 200 118
DRC-FL20-061 533577 4647274 313 -60 200 120
DRC-FL20-063 533561 4647234 308 -60 200 102
Emilia Este DDH-EE20-060 535596 4650522 298 -60 75 66.7
DDH-EE20-062 535595 4650466 286 -60 63 120

Further high-grade results from Mia E2 Metals Limited • www.e2metals.com.au 2

ASX Announcement

Mia

Phase 2 drilling at the recently announced Mia discovery ( see ASX announcement 28 October 2020, Exceptional gold and silver results from Mia) has been completed and comprised an additional 10 diamond holes for 1214m and 4 RC holes for 271m. Holes were initially drilled on a 25 by 50m grid to establish the plunge of high-grade mineralisation within the Lara Vein.

Gold and silver assay results for 8 holes have been received and 6 holes remain outstanding. Drill holes locations are provided in Table 1 and shown in Figure 2.

Significant new results from the high-grade Lara Vein shoot include:

DDH-MI20-030: 24.4m at 2.2gpt Au, 281gpt Ag from 41m, including

11.2m at 4.2gpt Au, 535gpt Ag 51m, including

1.1m at 21gpt Au, 3119gpt Ag from 59.1m

DDH-MI20-034: 1m at 3gpt Au, 6gpt Ag from 22.5m

4m at 0.19gpt Au, 42gpt Ag from 28m

9m at 11gpt Au, 814gpt Ag from 44m, including

3.4m at 28gpt Au, 1843gpt Ag from 49.1m

DDH-MI20-036: 12.9m at 0.41gpt Au, 125gpt Ag from 79m, including

4m at 0.69gpt Au, 318gpt Ag from 85m

High-grade gold and silver mineralisation is associated with a 2 to 10m wide vein and vein breccia complex with local banded and carbonate replacement textures (Figure 3) within a shallow northdipping east-west fault. The highest grades correlate to the intersection of subvertical hanging wall splits and oblique northwest structure(s).

This drilling extends the limits of high-grade mineralisation 25m east of previously reported hole DRC-MI20-012 that returned 18m at 47gpt Au, 208gpt Ag from 47m.

Mineralisation is open at depth and has an apparent shallow westerly plunge (see Figure 4). Gold and silver assay results for four 50m step-out holes are still outstanding and will help to confirm the plunge.

Three shallow RC drill holes were drilled to test the shallow up-dip extension of the Lara Vein. The three holes intercepted wide zones of low-grade mineralisation in the hanging wall, confirming the structural controls on high-grade mineralisation. Gold and silver assay results include:

DRC-MI20-039: 50m at 0.26gpt Au, 29gpt Ag from 1m, including

9m at 0.53gpt Au, 81gpt Ag from 3m

DRC-MI20-041: 21m at 0.31gpt Au, 31gpt Ag from 35m

DRC-MI20-042: 39m at 0.31gpt Au, 24gpt Ag from 26m

Further high-grade results from Mia E2 Metals Limited • www.e2metals.com.au 3

ASX Announcement

==> picture [473 x 635] intentionally omitted <==

Figure 2: Mia Prospect drill holes and gold silver results (Datum WGS UTM19S) Note to simplify map labels prefix “MI20” has been removed from collar IDs

Further high-grade results from Mia E2 Metals Limited • www.e2metals.com.au

4

ASX Announcement

==> picture [475 x 654] intentionally omitted <==

Figure 3: (above) core samples from the Lara Vein and hole DDH-MI20-034 and (below) close up of vein textures

Further high-grade results from Mia E2 Metals Limited • www.e2metals.com.au 5

ASX Announcement

==> picture [475 x 643] intentionally omitted <==

Figure 4: Mia long section (Datum WGS UTM19S) Note to simplify map labels prefix “MI20” has been removed from collar IDs

Further high-grade results from Mia E2 Metals Limited • www.e2metals.com.au 6

ASX Announcement

An Electrical Tomography (ET) survey was completed at the prospect to resolve the signature of the Lara Vein in resistivity and chargeability data. Modelled inversions for line 5015E show the Lara Vein to be associated with a discrete resistivity anomaly (Figure 5) confirming the effectiveness of the technique for locating blind veins elsewhere in the project.

Importantly, the ET data shows the Lara Vein to be linked to a larger chargeability feature (34mV.V) offset 125m to the north (Figure 5). The chargeability feature is interpreted as a zone of intense epithermal clay and sulphide (pyrite) alteration along a second parallel structure potentially representing a feeder zone and separate target. A deeper diamond hole (total depth 200m) is underway to test both the chargeable anomaly and the intersection of the interpreted feeder structure with the down-dip projection of the Lara Vein.

==> picture [394 x 230] intentionally omitted <==

==> picture [390 x 221] intentionally omitted <==

Figure 5: Electrical Tomography modelled inversions of chargeability (above) and resistivity (below)

Further high-grade results from Mia E2 Metals Limited • www.e2metals.com.au 7

ASX Announcement

Patricia

An additional 5 RC holes for 446m have been completed at the Patricia prospect (Figure 6). Patricia is located 1.2km northwest of Mia and was prioritised for scout RC drilling based on the presence of high-grade epithermal vein boulders at surface similar to Mia ( see ASX announcement, 17 February 2020, New Patricia Vein Extends Mia trend to 1.2km ).

Holes were drilled on three northeast orientated fences spaced 50 to 75m apart.

Preliminary interpretation from the first holes at Patricia was that the high-grade epithermal vein boulders were displaced approximately 50m northwards from the potential source located under younger tertiary basalt cover.

Hole DRC-PA20-028 was collared on the basalt and intercepted wide zones of low-grade mineralisation including a discrete interval of 1m at 0.35gpt Au, 195gpt Ag from 74m. This is interpreted to be a second parallel structure 40m south of previously reported hole DRC-PA20007 that returned 1m at 0.3gpt Au, 174gpt Ag from 95m. Both mineralised structures are open to the west.

Following the success at Mia, an Electrical Tomography survey is underway at Patricia to accelerate exploration and define possible ‘vein-like’ resistivity targets under the basalt cover.

==> picture [432 x 337] intentionally omitted <==

Figure 6: Patricia prospect drill holes and interpreted mineralised trends (Datum WGS UTM19S)Note Note prefix to simplify map labels “PA20” has been removed from collar IDs

Further high-grade results from Mia E2 Metals Limited • www.e2metals.com.au

8

ASX Announcement

Florencia

Phase 2 drilling at Florencia has also been completed and comprised 3 diamond holes for 372m and 11 RC holes for 1130m. The drill program was designed to test three mineralised structures defined by recent drilling and trenching ( see ASX announcement, Florencia returns promising drill results, 9 November 2020 ).

Previously reported key mineralised intercepts that were followed up by this program include:

DRC-FL20-016: 3m at 8.2gpt Au, 26gpt Ag from 60m DRC-FL20-019: 17m at 1.3gpt Au, 10gpt Ag from 87m

The program was largely reconnaissance and comprised a series of RC holes on fences spaced 100m apart and traversing the three mineralised structures perpendicular to strike on north-northeast orientated lines.

This work was augmented by three diamond holes completed down-dip and along strike from known mineralisation to better define the geological and structural controls on mineralisation at Florencia.

Geological interpretation is ongoing and final gold and silver assay results are expected towards the end of December.

==> picture [480 x 270] intentionally omitted <==

Figure 7: Looking east, view of RC and Diamond drilling at the Florencia prospect

Further high-grade results from Mia E2 Metals Limited • www.e2metals.com.au 9

ASX Announcement

Emilia Este

Emilia Este is a new surface vein discovery located 4.6km north of Mia on a separate mineralised trend ( see ASX announcement 9 November 2020, Florencia delivers promising drill results )

Follow-up sampling at the Emilia Este vein has returned further high-grade gold and silver mineralisation at surface with up to 82gpt Au and 1444gpt Ag in rock chip samples (n=11). Rock chip geochemical assay results are provided in Table 2 and shown in Figure 8.

This is in addition to previous reported surface rock chip values of up to 3.1gpt Au and 2468gpt Ag.

Gold and silver mineralisation is associated with a north-northwest orientated vein breccia that has been traced in outcrop over 80m strike, potentially representing a high-grade dilatant ‘link’ structure between segments of a northwest orientated fault corridor.

Key new rock chip results include:

  • 82 gpt Au, 290gpt Ag

  • 2.3gpt Au, 985gpt Ag

  • 1.1gpt Au, 1444gpt Ag

Two shallow diamond drill holes for 187m meters have been completed at the Emilia Este prospect. Both holes intercepted oxidized veins and vein breccias with a high modal percent (up to 15%) of pyrite and black sulphides interpreted to be silver-sulphosalts.

Gold and silver assay results are expected in the first week of January.

Table 2: Rock Chip Gold and Silver Results Coordinates stated in Latitude Longitude WGS84

Prospect Sample Latitude Longitude Au (gpt) Ag (gpt)
Emilia East 20508 -48.2974 -68.5195 2.60 264
20509 -48.2973 -68.5196 1.63 324
20510 -48.2977 -68.5211 0.03 3.65
20511 -48.2981 -68.5212 0.19 4.07
20512 -48.2977 -68.5193 82 290
20513 -48.2977 -68.5193 2.30 985
20514 -48.2977 -68.5193 1.09 1444
20515 -48.2977 -68.5193 1.59 245
20516 -48.2973 -68.5197 0.92 7.27
20517 -48.2972 -68.5198 0.70 9.88
20518 -48.2972 -68.5196 0.16 22

Further high-grade results from Mia E2 Metals Limited • www.e2metals.com.au 10

ASX Announcement

==> picture [461 x 357] intentionally omitted <==

Figure 8: Emilia Este prospect with previous and new rock chip results and drill holes (Datum WGS UTM19S) Note simplify map labels prefix “EE20” has been removed from collar IDs

==> picture [441 x 249] intentionally omitted <==

Figure 9: Looking south, view of the high-grade Emilia Este vein with up to 82gpt Au, 2468gpt Ag

Further high-grade results from Mia E2 Metals Limited • www.e2metals.com.au 11

ASX Announcement

Other Prospects

A further 5 RC holes and 6 diamond holes for 1535m have been completed at other prospects (Ro, Veta Blanca and Emilia, see Table 3). No significant assay results were received from these holes. However, programs at these prospects are incomplete as a result of drill rigs being relocated to prioritise drilling at Mia and Florencia. The RC rig is currently at Ro and diamond drilling at Veta Blanca and Emilia will recommence early next year subject to results from the current drill program.

Table 3: Veta Blanca, Ro and Emilia drill hole collars Coordinates stated in WGS84 UTM 19S

Prospect Hole Easting (mE) Northing (mN) RL (m) Dip (°) Azimuth (°)
Depth (m)
Veta Blanca DDH-VB20-020 534010 4650499 256 -60 37 239
DDH-VB20-023 534042 4650532 263 -60 37 182.2
DDH-VB20-025 533979 4650552 258 -60 37 130
DRC-VB20-026 533943 4650605 256 -60 37 89
DRC-VB20-027 533961 4650527 255 -60 37 74
Ro DDH-RO20-005 533472 4648560 306 -60 217 101.1
DDH-RO20-009 533553 4648503 306 -60 217 225.1
DDH-RO20-017 533386 4648615 306.1 -60 217 219
Emilia DRC-EM20-021 534885 4650851 252 -60 37 92
DRC-EM20-022 534914 4650876 247 -60 37 94
DRC-EM20-024 535003 4650820 253 -60 37 90

For enquiries please contact:

Todd Williams Managing Director M: + 61 4 2222 5211

This announcement is authorised for release to the market by the Board of Directors of E2 Metals Limited.

Further high-grade results from Mia E2 Metals Limited • www.e2metals.com.au

12

ASX Announcement

Hole ID From To Interval Sample Au (gpt) Ag (gpt)
DDH-MI20-030 0 1.5 1.5 13561 0.02
0
DDH-MI20-030 1.5 3 1.5 13562 0.01
0
DDH-MI20-030 3 4 1 13563 0
0
DDH-MI20-030 4 5 1 13564 0.02
0
DDH-MI20-030 5 6 1 13565 0.05
0
DDH-MI20-030 6 7 1 13566 0
0
DDH-MI20-030 7 8 1 13567 0
0
DDH-MI20-030 8 9 1 13568 0
0
DDH-MI20-030 9 10 1 13569 0.01
0
DDH-MI20-030 10 11 1 13570 0
0
DDH-MI20-030 11 12 1 13571 0
2.48
DDH-MI20-030 12 13 1 13572 0
0
DDH-MI20-030 13 14 1 13573 0
2.39
DDH-MI20-030 14 15 1 13574 0
2.1
DDH-MI20-030 15 16 1 13576 0
0
DDH-MI20-030 16 17 1 13577 0
2.14
DDH-MI20-030 17 18 1 13578 0.02
5.12
DDH-MI20-030 18 19 1 13579 0.01
3.49
DDH-MI20-030 19 20 1 13581 0.02
0
DDH-MI20-030 20 21 1 13582 0.04
2.43
DDH-MI20-030 21 22 1 13583 0.03
0
DDH-MI20-030 22 23 1 13584 0.03
0
DDH-MI20-030 23 24 1 13585 0.04
0
DDH-MI20-030 24 25 1 13586 0.06
0
DDH-MI20-030 25 26 1 13587 0.03
0
DDH-MI20-030 26 26.5 0.5 13588 0.05
2.08
DDH-MI20-030 26.5 27 0.5 13589 0.02
0
DDH-MI20-030 27 28 1 13590 0.02
12.16
DDH-MI20-030 28 29 1 13591 0.03
19.81
DDH-MI20-030 29 29.7 0.7 13592 0.02
0
DDH-MI20-030 29.7 30.2 0.5 13593 0.08
6.72
DDH-MI20-030 30.2 31 0.8 13594 0.01
0
DDH-MI20-030 31 32 1 13595 0.01
3.26
DDH-MI20-030 32 33 1 13596 0.08
3.12
DDH-MI20-030 33 34 1 13597 0.06
2.56
DDH-MI20-030 34 35 1 13598 0.1
2.41
DDH-MI20-030 35 36 1 13599 0.05
5.35
DDH-MI20-030 36 38 2 13601 0.06
4.12
DDH-MI20-030 38 39 1 13602 0.03
4.19
DDH-MI20-030 39 40 1 13603 0.07
9.62
DDH-MI20-030 40 41 1 13604 0.03
12.87
DDH-MI20-030 41 42 1 13605 0.07
36.39
DDH-MI20-030 42 43 1 13606 0.1
71.9
DDH-MI20-030 43 44 1 13607 0.03
14.99
DDH-MI20-030 44 45 1 13608 0.09
21.78

Further high-grade results from Mia E2 Metals Limited • www.e2metals.com.au

13

ASX Announcement

Hole ID From To Interval Sample Au (gpt) Ag (gpt)
DDH-MI20-030 45 45.85 0.85 13609 0.14
14.67
DDH-MI20-030 45.85 47 1.15 13610 0.33
184.99
DDH-MI20-030 47 48 1 13611 0.38
85.07
DDH-MI20-030 48 49 1 13612 0.25
26.46
DDH-MI20-030 49 51 2 13613 0.15
41.93
DDH-MI20-030 51 52 1 13614 1.35
393.13
DDH-MI20-030 52 53 1 13615 0.19
296.49
DDH-MI20-030 53 53.5 0.5 13616 2.73
308.4
DDH-MI20-030 53.5 54.5 1 13617 0.13
39.28
DDH-MI20-030 54.5 56 1.5 13618 0.09
61.09
DDH-MI20-030 56 57 1 13619 0.11
27.65
DDH-MI20-030 57 58 1 13621 0.33
428.9
DDH-MI20-030 58 58.5 0.5 13622 0.26
62.1
DDH-MI20-030 58.5 59.1 0.6 13623 8.16
863.29
DDH-MI20-030 59.1 60.2 1.1 13624 21.29
3118.72
DDH-MI20-030 60.2 61.25 1.05 13626 0.83
51.1
DDH-MI20-030 61.25 62.25 1 13627 14.54
549.15
DDH-MI20-030 62.25 63 0.75 13628 0.85
143.03
DDH-MI20-030 63 64 1 13629 1.61
117.19
DDH-MI20-030 64 65.4 1.4 13630 1.36
35.02
DDH-MI20-030 65.4 66.35 0.95 13631 0.22
11.35
DDH-MI20-030 66.35 67 0.65 13632 0.24
13.1
DDH-MI20-030 67 68 1 13633 0.27
4.53
DDH-MI20-030 68 69 1 13634 0.31
9.27
DDH-MI20-030 69 70 1 13635 0.1
8.45
DDH-MI20-030 70 71 1 13636 0.18
11.17
DDH-MI20-030 71 72 1 13637 0.09
42.94
DDH-MI20-030 72 73 1 13638 0.25
6.98
DDH-MI20-030 73 74 1 13639 0.32
21.24
DDH-MI20-030 74 75 1 13641 0.36
2.38
DDH-MI20-030 75 76 1 13642 0.13
3.16
DDH-MI20-030 76 77 1 13643 0.15
4.29
DDH-MI20-030 77 78 1 13644 0.26
3.95
DDH-MI20-030 78 79 1 13645 0.1
0
DDH-MI20-030 79 80 1 13646 0.11
180.31
DDH-MI20-030 80 81 1 13647 0.06
2.55
DDH-MI20-030 81 82 1 13648 0.06
4.39
DDH-MI20-030 82 83 1 13649 0.05
5.18
DDH-MI20-030 83 84 1 13651 0.08
5.17
DDH-MI20-030 84 85 1 13652 0.07
3.05
DDH-MI20-030 85 87 2 13653 0.16
2.78
DDH-MI20-030 87 89 2 13654 0.14
0
DDH-MI20-030 89 91 2 13655 0.25
4.71
DDH-MI20-030 91 92 1 13656 0.06
2.62
DDH-MI20-030 92 93 1 13657 0.07
0

Further high-grade results from Mia E2 Metals Limited • www.e2metals.com.au

14

ASX Announcement

Hole ID From To Interval Sample Au (gpt) Ag (gpt)
DDH-MI20-030 93 94 1 13658 0.52
3.85
DDH-MI20-030 94 96 2 13659 0.22
0
DDH-MI20-030 96 97.5 1.5 13661 0.14
0
DDH-MI20-030 97.5 98.2 0.7 13662 0.76
2.53
DDH-MI20-030 98.2 99 0.8 13663 0.26
0
DDH-MI20-030 99 100 1 13664 0.05
0
DDH-MI20-030 100 101.45 1.45 13665 0.19
0
DDH-MI20-034 0 2 2 13811 0
0
DDH-MI20-034 2 4 2 13812 0
0
DDH-MI20-034 4 6 2 13813 0
0
DDH-MI20-034 6 8 2 13814 0
0
DDH-MI20-034 8 10 2 13815 0
0
DDH-MI20-034 10 12 2 13816 0.01
0
DDH-MI20-034 12 14 2 13817 0
3.22
DDH-MI20-034 14 16 2 13818 0
0
DDH-MI20-034 16 18 2 13819 0.04
4.2
DDH-MI20-034 18 20 2 13821 0.02
5.42
DDH-MI20-034 20 22 2 13822 0.03
5.79
DDH-MI20-034 22 22.5 0.5 13823 0.02
4.45
DDH-MI20-034 22.5 23.5 1 13824 3.01
5.73
DDH-MI20-034 23.5 24 0.5 13826 0.06
7.57
DDH-MI20-034 24 25 1 13827 0.07
6.36
DDH-MI20-034 25 26 1 13828 0.01
8.36
DDH-MI20-034 26 27 1 13829 0.02
9.41
DDH-MI20-034 27 28 1 13830 0.19
2.94
DDH-MI20-034 28 29 1 13831 0.25
20.85
DDH-MI20-034 29 30 1 13832 0.18
19.45
DDH-MI20-034 30 32 2 13833 0.16
64.54
DDH-MI20-034 32 34 2 13834 0.12
15.04
DDH-MI20-034 34 36 2 13835 0.11
13.77
DDH-MI20-034 36 38 2 13836 0.1
6.15
DDH-MI20-034 38 40 2 13837 0.26
11.27
DDH-MI20-034 40 42 2 13838 0.13
11.11
DDH-MI20-034 42 44 2 13839 0.14
21.56
DDH-MI20-034 44 46 2 13841 1.38
385.29
DDH-MI20-034 46 48 2 13842 0.2
12.54
DDH-MI20-034 48 49.1 1.1 13843 0.07
11.27
DDH-MI20-034 49.1 50.38 1.28 13844 0.94
1034.75
DDH-MI20-034 50.38 51.1 0.72 13845 71.35
1495.05
DDH-MI20-034 51.1 52 0.9 13846 37.3
2010.76
DDH-MI20-034 52 52.53 0.53 13847 18.91
3982.35
DDH-MI20-034 52.53 53 0.47 13848 0.17
417.55
DDH-MI20-034 53 54 1 13849 0.13
16.01
DDH-MI20-034 54 56 2 13851 0.22
10.66
DDH-MI20-034 56 58 2 13852 0.04
14.45

Further high-grade results from Mia E2 Metals Limited • www.e2metals.com.au

15

ASX Announcement

Hole ID From To Interval Sample Au (gpt) Ag (gpt)
DDH-MI20-034 58 60 2 13853 0.03
2.4
DDH-MI20-034 60 61 1 13854 0.02
6.46
DDH-MI20-034 61 62 1 13855 0.07
28.46
DDH-MI20-034 62 62.6 0.6 13856 0.08
10.46
DDH-MI20-034 62.6 63.5 0.9 13857 0.05
9.49
DDH-MI20-034 63.5 64.5 1 13858 0.08
4.68
DDH-MI20-034 64.5 66 1.5 13859 0.15
2.43
DDH-MI20-034 66 67 1 13861 0.15
4.25
DDH-MI20-034 67 68 1 13862 0.33
8.88
DDH-MI20-034 68 70 2 13863 0.14
6.53
DDH-MI20-034 70 72 2 13864 0.11
2.34
DDH-MI20-034 72 74 2 13865 0.2
2.79
DDH-MI20-034 74 76 2 13866 0.07
0
DDH-MI20-034 76 78 2 13867 0.15
2.53
DDH-MI20-034 78 80 2 13868 0.2
2.55
DDH-MI20-034 80 82 2 13869 0.17
0
DDH-MI20-034 82 84 2 13870 0.16
4.76
DDH-MI20-034 84 86 2 13871 0.05
0
DDH-MI20-034 86 88 2 13872 0.23
6.82
DDH-MI20-034 88 90 2 13873 0.23
6.63
DDH-MI20-034 90 92 2 13874 0.1
2.55
DDH-MI20-034 92 93 1 13876 0.09
28.76
DDH-MI20-034 93 94 1 13877 0.18
6.8
DDH-MI20-034 94 95 1 13878 0.42
0
DDH-MI20-034 95 96 1 13879 0.05
13.81
DDH-MI20-034 96 97 1 13881 0.07
0
DDH-MI20-034 97 98 1 13882 0.11
2.12
DDH-MI20-034 98 99 1 13883 0.08
5.76
DDH-MI20-034 99 100 1 13884 0.08
8.23
DDH-MI20-034 100 101 1 13885 0.13
0
DDH-MI20-036 0 2 2 13886 0
0
DDH-MI20-036 2 4 2 13887 0
0
DDH-MI20-036 4 6 2 13888 0.19
0
DDH-MI20-036 6 8 2 13889 0
0
DDH-MI20-036 8 10 2 13890 0
0
DDH-MI20-036 10 12 2 13891 0.02
0
DDH-MI20-036 12 14 2 13892 0
0
DDH-MI20-036 14 16 2 13893 0
0
DDH-MI20-036 16 18 2 13894 0
0
DDH-MI20-036 18 20 2 13895 0
0
DDH-MI20-036 20 22 2 13896 0
0
DDH-MI20-036 22 24 2 13897 0
0
DDH-MI20-036 24 26 2 13898 0
0
DDH-MI20-036 26 28 2 13899 0
0
DDH-MI20-036 28 30 2 13901 0
0

Further high-grade results from Mia E2 Metals Limited • www.e2metals.com.au

16

ASX Announcement

Hole ID From To Interval Sample Au (gpt) Ag (gpt)
DDH-MI20-036 30 32 2 13902 0
0
DDH-MI20-036 32 34 2 13903 0
0
DDH-MI20-036 34 36 2 13904 0
0
DDH-MI20-036 36 38 2 13905 0
0
DDH-MI20-036 38 40 2 13906 0
0
DDH-MI20-036 40 42 2 13907 0
0
DDH-MI20-036 42 44 2 13908 0
0
DDH-MI20-036 44 46 2 13909 0
0
DDH-MI20-036 46 48 2 13910 0.01
0
DDH-MI20-036 48 50 2 13911 0
0
DDH-MI20-036 50 52 2 13912 0
0
DDH-MI20-036 52 54 2 13913 0.01
0
DDH-MI20-036 54 56 2 13914 0.02
0
DDH-MI20-036 56 58 2 13915 0
0
DDH-MI20-036 58 60 2 13916 0.02
0
DDH-MI20-036 60 62 2 13917 0.03
0
DDH-MI20-036 62 64 2 13918 0.03
0
DDH-MI20-036 64 66 2 13919 0.07
0
DDH-MI20-036 66 68 2 13921 0.08
0
DDH-MI20-036 68 70 2 13922 0.03
0
DDH-MI20-036 70 70.84 0.84 13923 0.03
23.08
DDH-MI20-036 70.84 71.8 0.96 13924 0.03
14.2
DDH-MI20-036 71.8 72.7 0.9 13926 0.01
3.83
DDH-MI20-036 72.7 73.5 0.8 13927 0.1
0
DDH-MI20-036 73.5 74 0.5 13928 0
9.39
DDH-MI20-036 74 75 1 13929 0.03
11.04
DDH-MI20-036 75 76 1 13930 0.05
55.72
DDH-MI20-036 76 77 1 13931 0.02
0
DDH-MI20-036 77 78 1 13932 0.03
0
DDH-MI20-036 78 79 1 13933 0.02
5.08
DDH-MI20-036 79 80 1 13934 0.19
29.44
DDH-MI20-036 80 81 1 13935 0.04
45.52
DDH-MI20-036 81 82 1 13936 0.02
4.5
DDH-MI20-036 82 83 1 13937 0.02
9.33
DDH-MI20-036 83 83.8 0.8 13938 0.07
42.65
DDH-MI20-036 83.8 85 1.2 13939 1.07
53.33
DDH-MI20-036 85 86.1 1.1 13941 1.31
651.31
DDH-MI20-036 86.1 86.9 0.8 13942 0.4
117.47
DDH-MI20-036 86.9 88 1.1 13943 0.54
258.09
DDH-MI20-036 88 89 1 13944 0.4
179.55
DDH-MI20-036 89 89.85 0.85 13945 0.11
7.33
DDH-MI20-036 89.85 90.7 0.85 13946 0.52
32.53
DDH-MI20-036 90.7 91.42 0.72 13947 0.34
141.4
DDH-MI20-036 91.42 91.87 0.45 13948 0.39
35.78
DDH-MI20-036 91.87 92.4 0.53 13949 0.22
10.82

Further high-grade results from Mia E2 Metals Limited • www.e2metals.com.au

17

ASX Announcement

Hole ID From To Interval Sample Au (gpt) Ag (gpt)
DDH-MI20-036 92.4 93.3 0.9 13951 0.11
12.26
DDH-MI20-036 93.3 94 0.7 13952 0.03
0
DDH-MI20-036 94 94.5 0.5 13953 0.14
3.52
DDH-MI20-036 94.5 95 0.5 13954 0.09
0
DDH-MI20-036 95 96 1 13955 0.13
26.12
DDH-MI20-036 96 97 1 13956 0.22
57.91
DDH-MI20-036 97 98 1 13957 0.18
37.74
DDH-MI20-036 98 99 1 13958 0.1
25.26
DDH-MI20-036 99 99.85 0.85 13959 0.07
2.31
DDH-MI20-036 99.85 100.9 1.05 13961 0.2
5.73
DDH-MI20-036 100.9 102 1.1 13962 0.18
3.9
DDH-MI20-036 102 103 1 13963 0.13
4.34
DDH-MI20-036 103 104 1 13964 0.15
32.65
DDH-MI20-036 104 105 1 13965 0.05
5.73
DDH-MI20-036 105 106 1 13966 0.16
8.04
DDH-MI20-036 106 107 1 13967 0.12
9.14
DDH-MI20-036 107 108 1 13968 0.1
5.35
DDH-MI20-036 108 109 1 13969 0.19
6.02
DDH-MI20-036 109 110.8 1.8 13970 0.07
7.39
DDH-MI20-036 110.8 112 1.2 13971 0.16
50.11
DDH-MI20-036 112 114 2 13972 0.21
0
DDH-MI20-036 114 116 2 13973 0.19
0
DDH-MI20-036 116 117.2 1.2 13974 0.19
2.61
DDH-MI20-036 117.2 119 1.8 13976 0.05
0
DDH-MI20-036 119 121 2 13977 0.05
2.32
DDH-MI20-036 121 123 2 13978 0.42
5.37
DDH-MI20-036 123 125 2 13979 0.26
6.04
DRC-MI20-039 0 1 1 17286 0.04
0
DRC-MI20-039 1 2 1 17287 0.1
12.18
DRC-MI20-039 2 3 1 17288 0.16
18.35
DRC-MI20-039 3 4 1 17289 0.37
36.5
DRC-MI20-039 4 5 1 17290 0.41
13.58
DRC-MI20-039 5 6 1 17291 0.28
14.69
DRC-MI20-039 6 7 1 17292 0.28
23.71
DRC-MI20-039 7 8 1 17293 0.13
46.04
DRC-MI20-039 8 9 1 17294 0.65
265.95
DRC-MI20-039 9 10 1 17295 1.1
186.68
DRC-MI20-039 10 11 1 17296 1.31
91.61
DRC-MI20-039 11 12 1 17297 0.23
51
DRC-MI20-039 12 13 1 17298 0.05
12.72
DRC-MI20-039 13 14 1 17299 0.23
9.74
DRC-MI20-039 14 15 1 17301 0.09
15.4
DRC-MI20-039 15 16 1 17302 0.05
12.76
DRC-MI20-039 16 17 1 17303 0.16
17.23
DRC-MI20-039 17 18 1 17304 0.12
14.21

Further high-grade results from Mia E2 Metals Limited • www.e2metals.com.au

18

ASX Announcement

Hole ID From To Interval Sample Au (gpt) Ag (gpt)
DRC-MI20-039 18 19 1
17305
0.29
13.02
DRC-MI20-039 19 20 1
17306
0.19
5.66
DRC-MI20-039 20 21 1
17307
0.22
6.24
DRC-MI20-039 21 22 1
17308
0.16
11.25
DRC-MI20-039 22 23 1
17309
0.22
10.73
DRC-MI20-039 23 24 1
17310
1.35
33.93
DRC-MI20-039 24 25 1
17311
0.25
16.52
DRC-MI20-039 25 26 1
17312
0.12
13.53
DRC-MI20-039 26 27 1
17313
0.19
11.23
DRC-MI20-039 27 28 1
17314
0.48
15.58
DRC-MI20-039 28 29 1
17315
0.64
7.91
DRC-MI20-039 29 30 1
17316
0.38
36.51
DRC-MI20-039 30 31 1
17317
0.03
17.87
DRC-MI20-039 31 32 1
17318
0.13
15.66
DRC-MI20-039 32 33 1
17319
0.08
4.46
DRC-MI20-039 33 34 1
17321
0.09
2.73
DRC-MI20-039 34 35 1
17322
0.17
6
DRC-MI20-039 35 36 1
17323
0.19
4.7
DRC-MI20-039 36 37 1
17324
0.04
4.07
DRC-MI20-039 37 38 1
17326
0.06
10.43
DRC-MI20-039 38 39 1
17327
0.05
3.25
DRC-MI20-039 39 40 1
17328
0.29
227.3
DRC-MI20-039 40 41 1
17329
0.14
73.23
DRC-MI20-039 41 42 1
17330
0.05
18.49
DRC-MI20-039 42 43 1
17331
0.05
5.48
DRC-MI20-039 43 44 1
17332
0.05
6.98
DRC-MI20-039 44 45 1
17333
0.1
2.02
DRC-MI20-039 45 46 1
17334
0.09
4.52
DRC-MI20-039 46 47 1
17335
0.31
3.62
DRC-MI20-039 47 48 1
17336
0.15
3.84
DRC-MI20-039 48 49 1
17337
0.1
0
DRC-MI20-039 49 50 1
17338
0.21
10.2
DRC-MI20-039 50 51 1
17339
0.46
20.34
DRC-MI20-039 51 52 1
17341
0.13
0
DRC-MI20-039 52 53 1
17342
0.07
0
DRC-MI20-039 53 54 1
17343
0.11
0
DRC-MI20-039 54 55 1
17344
0.11
0
DRC-MI20-039 55 56 1
17345
0.09
3.05
DRC-MI20-039 56 57 1
17346
0.14
6.03
DRC-MI20-039 57 58 1
17347
0.36
0
DRC-MI20-039 58 59 1
17348
0.28
2.35
DRC-MI20-039 59 60 1
17349
0.29
0
DRC-MI20-039 60 61 1
17351
0.12
0
DRC-MI20-039 61 62 1
17352
0.05
0
DRC-MI20-039 62 63 1
17353
0.03
2.34

Further high-grade results from Mia E2 Metals Limited • www.e2metals.com.au

19

ASX Announcement

Hole ID From To Interval Sample Au (gpt) Ag (gpt)
DRC-MI20-039 63 64 1
17354
0.03
0
DRC-MI20-039 64 65 1
17355
0.06
0
DRC-MI20-039 65 66 1
17356
0.12
0
DRC-MI20-039 66 67 1
17357
0.06
2.46
DRC-MI20-039 67 68 1
17358
0.05
0
DRC-MI20-039 68 69 1
17359
0.07
4.38
DRC-MI20-039 69 70 1
17361
0.13
8.64
DRC-MI20-039 70 71 1
17362
0.1
4.2
DRC-MI20-039 71 72 1
17363
0.13
0
DRC-MI20-041 0 1 1
17364
0.1
0
DRC-MI20-041 1 2 1
17365
0.09
0
DRC-MI20-041 2 3 1
17366
0.05
2.49
DRC-MI20-041 3 4 1
17367
0.15
3.37
DRC-MI20-041 4 5 1
17368
0.09
3.07
DRC-MI20-041 5 6 1
17369
0.1
0
DRC-MI20-041 6 7 1
17370
0.05
3.28
DRC-MI20-041 7 8 1
17371
0.06
0
DRC-MI20-041 8 9 1
17372
0.02
3.41
DRC-MI20-041 9 10 1
17373
0.03
2.28
DRC-MI20-041 10 11 1
17374
0.05
4.92
DRC-MI20-041 11 12 1
17376
0.02
4.46
DRC-MI20-041 12 13 1
17377
0.04
3.06
DRC-MI20-041 13 14 1
17378
0.13
2.94
DRC-MI20-041 14 15 1
17379
0.08
4.29
DRC-MI20-041 15 16 1
17381
0.07
5.11
DRC-MI20-041 16 17 1
17382
0
3.87
DRC-MI20-041 17 18 1
17383
0.35
12.76
DRC-MI20-041 18 19 1
17384
0.11
4.04
DRC-MI20-041 19 20 1
17385
0.16
9.6
DRC-MI20-041 20 21 1
17386
0.06
6.8
DRC-MI20-041 21 22 1
17387
0.06
4.99
DRC-MI20-041 22 23 1
17388
0.19
5.35
DRC-MI20-041 23 24 1
17389
0.09
4.21
DRC-MI20-041 24 25 1
17390
0.16
2.7
DRC-MI20-041 25 26 1
17391
0.02
2.64
DRC-MI20-041 26 27 1
17392
0.03
2.27
DRC-MI20-041 27 28 1
17393
0.05
7.84
DRC-MI20-041 28 29 1
17394
0.03
6.71
DRC-MI20-041 29 30 1
17395
0.14
12.65
DRC-MI20-041 30 31 1
17396
0.06
10.84
DRC-MI20-041 31 32 1
17397
0.08
20.7
DRC-MI20-041 32 33 1
17398
0.21
8.77
DRC-MI20-041 33 34 1
17399
0.07
25.81
DRC-MI20-041 34 35 1
17401
0.11
19.91
DRC-MI20-041 35 36 1
17402
0.13
34.68

Further high-grade results from Mia E2 Metals Limited • www.e2metals.com.au

20

ASX Announcement

Hole ID From To Interval Sample Au (gpt) Ag (gpt)
DRC-MI20-041 36 37 1
17403
0.17
11.44
DRC-MI20-041 37 38 1
17404
0.3
28.89
DRC-MI20-041 38 39 1
17405
0.24
7.31
DRC-MI20-041 39 40 1
17406
0.4
26.84
DRC-MI20-041 40 41 1
17407
0.47
43.12
DRC-MI20-041 41 42 1
17408
0.35
10.96
DRC-MI20-041 42 43 1
17409
0.18
16.51
DRC-MI20-041 43 44 1
17410
0.37
134.59
DRC-MI20-041 44 45 1
17411
0.12
22.35
DRC-MI20-041 45 46 1
17412
0.07
12.64
DRC-MI20-041 46 47 1
17413
0.1
22.38
DRC-MI20-041 47 48 1
17414
0.17
13.36
DRC-MI20-041 48 49 1
17415
0.63
27.7
DRC-MI20-041 49 50 1
17416
1.32
19.67
DRC-MI20-041 50 51 1
17417
0.2
7.6
DRC-MI20-041 51 52 1
17418
0.19
11.69
DRC-MI20-041 52 53 1
17419
0.24
28.57
DRC-MI20-041 53 54 1
17421
0.3
31.92
DRC-MI20-041 54 55 1
17422
0.26
101.81
DRC-MI20-041 55 56 1
17423
0.23
28.8
DRC-MI20-042 0 1 1
17424
0.13
5.76
DRC-MI20-042 1 2 1
17426
0.27
3.93
DRC-MI20-042 2 3 1
17427
0.04
3.35
DRC-MI20-042 3 4 1
17428
0.26
0
DRC-MI20-042 4 5 1
17429
0.35
3.11
DRC-MI20-042 5 6 1
17430
0.14
2.12
DRC-MI20-042 6 7 1
17431
0.13
5.91
DRC-MI20-042 7 8 1
17432
0.16
0
DRC-MI20-042 8 9 1
17433
0.08
4.87
DRC-MI20-042 9 10 1
17434
0.22
0
DRC-MI20-042 10 11 1
17435
0.12
3.29
DRC-MI20-042 11 12 1
17436
0.16
5.73
DRC-MI20-042 12 13 1
17437
0.04
0
DRC-MI20-042 13 14 1
17438
0.11
5.49
DRC-MI20-042 14 15 1
17439
0.09
6.26
DRC-MI20-042 15 16 1
17441
0.19
3.58
DRC-MI20-042 16 17 1
17442
0.4
4.72
DRC-MI20-042 17 18 1
17443
0.17
4.54
DRC-MI20-042 18 19 1
17444
0.1
9.21
DRC-MI20-042 19 20 1
17445
0.14
9.59
DRC-MI20-042 20 21 1
17446
0.11
8.4
DRC-MI20-042 21 22 1
17447
0.12
8.59
DRC-MI20-042 22 23 1
17448
0.16
8.09
DRC-MI20-042 23 24 1
17449
0.29
7.4
DRC-MI20-042 24 25 1
17451
0.16
7.47

Further high-grade results from Mia E2 Metals Limited • www.e2metals.com.au

21

ASX Announcement

Hole ID From To Interval Sample Au (gpt) Ag (gpt)
DRC-MI20-042 25 26 1
17452
0.15
3.84
DRC-MI20-042 26 27 1
17453
1.06
5.04
DRC-MI20-042 27 28 1
17454
0.36
6.01
DRC-MI20-042 28 29 1
17455
0.31
5.09
DRC-MI20-042 29 30 1
17456
0.45
11.77
DRC-MI20-042 30 31 1
17457
0.34
33.84
DRC-MI20-042 31 32 1
17458
0.3
10.58
DRC-MI20-042 32 33 1
17459
0.2
12.83
DRC-MI20-042 33 34 1
17461
0.16
8.31
DRC-MI20-042 34 35 1
17462
0.27
11.25
DRC-MI20-042 35 36 1
17463
0.2
14.15
DRC-MI20-042 36 37 1
17464
0.76
8.33
DRC-MI20-042 37 38 1
17465
0.22
11.25
DRC-MI20-042 38 39 1
17466
0.19
13.86
DRC-MI20-042 39 40 1
17467
0.15
30.23
DRC-MI20-042 40 41 1
17468
1.85
68.13
DRC-MI20-042 41 42 1
17469
0.29
22.07
DRC-MI20-042 42 43 1
17470
0.13
23.17
DRC-MI20-042 43 44 1
17471
0.46
55.57
DRC-MI20-042 44 45 1
17472
0.39
32.46
DRC-MI20-042 45 46 1
17473
0.41
71.8
DRC-MI20-042 46 47 1
17474
0.21
77.99
DRC-MI20-042 47 48 1
17476
0.18
45.36
DRC-MI20-042 48 49 1
17477
0.17
23.29
DRC-MI20-042 49 50 1
17478
0.15
58.82
DRC-MI20-042 50 51 1
17479
0.14
10.32
DRC-MI20-042 51 52 1
17481
0.2
4.62
DRC-MI20-042 52 53 1
17482
0.23
5.33
DRC-MI20-042 53 54 1
17483
0.13
8.43
DRC-MI20-042 54 55 1
17484
0.1
12.79
DRC-MI20-042 55 56 1
17485
0.2
34.36
DRC-MI20-042 56 57 1
17486
0.59
42.7
DRC-MI20-042 57 58 1
17487
0.29
10.28
DRC-MI20-042 58 59 1
17488
0.15
5.86
DRC-MI20-042 59 60 1
17489
0.08
5.08
DRC-MI20-042 60 61 1
17490
0.11
2.45
DRC-MI20-042 61 62 1
17491
0.11
25.05
DRC-MI20-042 62 63 1
17492
0.13
3.72
DRC-MI20-042 63 64 1
17493
0.17
30.87
DRC-MI20-042 64 65 1
17494
0.18
59.43
DRC-PA20-028 0 1 1
16784
0.05
0
DRC-PA20-028 1 2 1
16785
0.03
0
DRC-PA20-028 2 3 1
16786
0.03
0
DRC-PA20-028 3 4 1
16787
0.03
0
DRC-PA20-028 4 5 1
16788
0.08
0

Further high-grade results from Mia E2 Metals Limited • www.e2metals.com.au

22

ASX Announcement

Hole ID From To Interval Sample Au (gpt) Ag (gpt)
DRC-PA20-028 5 6 1
16789
0.08
2.8
DRC-PA20-028 6 7 1
16790
0.03
0
DRC-PA20-028 7 8 1
16791
0.02
0
DRC-PA20-028 8 9 1
16792
0.01
0
DRC-PA20-028 9 10 1
16793
0.04
3.12
DRC-PA20-028 10 11 1
16794
0.01
2.09
DRC-PA20-028 11 12 1
16795
0.01
0
DRC-PA20-028 12 13 1
16796
0.01
0
DRC-PA20-028 13 14 1
16797
0
0
DRC-PA20-028 14 15 1
16798
0
0
DRC-PA20-028 15 16 1
16799
0
0
DRC-PA20-028 16 17 1
16801
0
2.36
DRC-PA20-028 17 18 1
16802
0.03
0
DRC-PA20-028 18 19 1
16803
0
5.76
DRC-PA20-028 19 20 1
16804
0.03
12.68
DRC-PA20-028 20 21 1
16805
0.01
5.14
DRC-PA20-028 21 22 1
16806
0
3.82
DRC-PA20-028 22 23 1
16807
0
2.56
DRC-PA20-028 23 24 1
16808
0
0
DRC-PA20-028 24 25 1
16809
0
0
DRC-PA20-028 25 26 1
16810
0
0
DRC-PA20-028 26 27 1
16811
0
0
DRC-PA20-028 27 28 1
16812
0
0
DRC-PA20-028 28 29 1
16813
0
0
DRC-PA20-028 29 30 1
16814
0
0
DRC-PA20-028 30 31 1
16815
0.01
0
DRC-PA20-028 31 32 1
16816
0
0
DRC-PA20-028 32 33 1
16817
0.04
0
DRC-PA20-028 33 34 1
16818
0.45
3.74
DRC-PA20-028 34 35 1
16819
0.34
7.25
DRC-PA20-028 35 36 1
16821
0.07
43.04
DRC-PA20-028 36 37 1
16822
0.08
7.63
DRC-PA20-028 37 38 1
16823
0.07
5.59
DRC-PA20-028 38 39 1
16824
0.12
9.21
DRC-PA20-028 39 40 1
16826
0.1
5.89
DRC-PA20-028 40 41 1
16827
0.06
0
DRC-PA20-028 41 42 1
16828
0.08
5.73
DRC-PA20-028 42 43 1
16829
0.13
4.03
DRC-PA20-028 43 44 1
16830
0.24
13.62
DRC-PA20-028 44 45 1
16831
0.48
29.66
DRC-PA20-028 45 46 1
16832
0.33
8.07
DRC-PA20-028 46 47 1
16833
0.09
6.4
DRC-PA20-028 47 48 1
16834
0.09
7.46
DRC-PA20-028 48 49 1
16835
0.13
12.91
DRC-PA20-028 49 50 1
16836
0.14
16.24

Further high-grade results from Mia E2 Metals Limited • www.e2metals.com.au

23

ASX Announcement

Hole ID From To Interval Sample Au (gpt) Ag (gpt)
DRC-PA20-028 50 51 1
16837
0.13
14.73
DRC-PA20-028 51 52 1
16838
0.08
9.02
DRC-PA20-028 52 53 1
16839
0.28
34.97
DRC-PA20-028 53 54 1
16841
0.07
16.22
DRC-PA20-028 54 55 1
16842
0.11
23.15
DRC-PA20-028 55 56 1
16843
0.1
27.62
DRC-PA20-028 56 57 1
16844
0.13
10.57
DRC-PA20-028 57 58 1
16845
0.09
8.53
DRC-PA20-028 58 59 1
16846
0.07
6.93
DRC-PA20-028 59 60 1
16847
0.07
4.56
DRC-PA20-028 60 61 1
16848
0.06
4.12
DRC-PA20-028 61 62 1
16849
0.06
10.54
DRC-PA20-028 62 63 1
16851
0.02
0
DRC-PA20-028 63 64 1
16852
0.03
3.79
DRC-PA20-028 64 65 1
16853
0.03
4.07
DRC-PA20-028 65 66 1
16854
0.04
2.76
DRC-PA20-028 66 67 1
16855
0
2.82
DRC-PA20-028 67 68 1
16856
0
2.08
DRC-PA20-028 68 69 1
16857
0.03
2.59
DRC-PA20-028 69 70 1
16858
0
0
DRC-PA20-028 70 71 1
16859
0.02
0
DRC-PA20-028 71 72 1
16861
0.03
0
DRC-PA20-028 72 73 1
16862
0.05
2.86
DRC-PA20-028 73 74 1
16863
0.04
9.57
DRC-PA20-028 74 75 1
16864
0.35
194.59
DRC-PA20-028 75 76 1
16865
0.27
20.92
DRC-PA20-028 76 77 1
16866
0.3
13.26
DRC-PA20-028 77 78 1
16867
0.12
6.71
DRC-PA20-028 78 79 1
16868
0.09
17.9
DRC-PA20-028 79 80 1
16869
0.31
3.11
DRC-PA20-028 80 81 1
16870
0.02
2.62
DRC-PA20-028 81 82 1
16871
0.01
3.58
DRC-PA20-028 82 83 1
16872
0.02
3.08
DRC-PA20-028 83 84 1
16873
0.04
0
DRC-PA20-028 84 85 1
16874
0.06
0
DRC-PA20-028 85 86 1
16876
0.04
2.23
DRC-PA20-028 86 87 1
16877
0.01
0
DRC-PA20-028 87 88 1
16878
0
0
DRC-PA20-028 88 89 1
16879
0
0
DRC-PA20-028 89 90 1
16881
0
0
DRC-PA20-028 90 91 1
16882
0
0
DRC-PA20-028 91 92 1
16883
0
0

Further high-grade results from Mia E2 Metals Limited • www.e2metals.com.au

24

ASX Announcement

Competent Person’s Statement

Information in this report that relates to Exploration results and targets is based on, and fairly reflects, information compiled by E2 Metals Limited and Colin Brodie, a Competent Person who is a Member of the Australian Institute of Geoscientists. Mr. Brodie is a Senior Technical Advisor and consultant to E2 Metals Limited. Mr. Brodie has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity, which he is undertaking to qualify as a Competent Person as defined by the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr. Brodie consents to the inclusion of the data in the form and context in which it appears

Forward Looking Statement

Certain statements in this announcement constitute “forward-looking statements” or “forward looking information” within the meaning of applicable securities laws. Such statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Such statements can be identified by the use of words such as “may”, “would”, “could”, “will”, “intend”, “expect”, “believe”, “plan”, “anticipate”, “estimate”, “scheduled”, “forecast”, “predict” and other similar terminology, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. These statements reflect the Company’s current expectations regarding future events, performance and results, and speak only as of the date of this announcement.

All such forward-looking information and statements are based on certain assumptions and analyses made by E2M’s management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believe are appropriate in the circumstances. These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward looking information or statements including, but not limited to, unexpected changes in laws, rules or regulations, or their enforcement by applicable authorities; the failure of parties to contracts to perform as agreed; changes in commodity prices; unexpected failure or inadequacy of infrastructure, or delays in the development of infrastructure, and the failure of exploration programs or other studies to deliver anticipated results or results that would justify and support continued studies, development or operations.

Readers are cautioned not to place undue reliance on forward-looking information or statements. Although the forward-looking statements contained in this announcement are based upon what management of the Company believes are reasonable assumptions, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this announcement and are expressly qualified in their entirety by this cautionary statement. Subject to applicable securities laws, the Company does not assume any obligation to update or revise the forwardlooking statements contained herein to reflect events or circumstances occurring after the date of this announcement.

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25

ASX Announcement

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, orspecificspecialized industry
standardmeasurement tools appropriate tothe
minerals under investigation, suchasdown hole
gamma sondes, orhandheldXRF instruments, etc).
Theseexamplesshould not be taken as limiting the
broadmeaning ofsampling.
• Include reference to measurestakento ensure
sample
representativity
and
the
appropriate
calibration ofanymeasurement tools or systems
used.
Conserrat Rock Chip Sampling
• The rock chip samples reported in this announcement were collected by E2 Metals
during January 2020. A total of 127 samples were collected from vein outcrop and
representative float trains.
• Samples were analysed by ALS, Mendoza, Argentina. Samples were crushed to less
than 2mm, split and pulverized to <75µm.
• Multi-element (48) data was by four acid digest and ICP-MS including trace
mercury by ICP-MS. Au was by fire assay using a 50g sample with AA finish.
Conserrat RC Drilling

RC chips were collected using a Rifle John type splitter incorporated into the
cyclone which split the sample into two portions of approximately 75% and 25%.

About 95% of the samples were collected on a dry basis.

When the sample is wet an Hydraulic Cone Splitter is used, which take out the
excess of water, and splits two portion of the reject in 75% and 25%.

Assay standards, blanks and duplicates were inserted into every 25 samples.
Conserrat Diamond Drilling

Representative half core samples were split from HQ diameter diamond drill core
on site using rock saws

The sample intervals were defined from lithological, mineralization
characteristics, with lengths no longer than 2 m and no less than 0.5 m.

The orientation of the cut line is defined, when is possible, from structural
features such as contacts, fractures, faults, veinlets, so as to cut the core into two
equal parts.

Core orientation line ensures uniformity of core splitting wherever the core has
been successfully oriented.

Sample intervals are defined and subsequently checked by geologists, and sample
tags are attached(stapled)to the wood core trays for everysample interval.

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ASX Announcement

Criteria JORC Code Explanation Commentary

Assay standards, blanks and duplicates were inserted into every 12.5 samples
average
Drilling
Techniques
• Drill type (e.g. core,reverse circulation,open‐hole
hammer, rotaryairblast, auger, Bangka, sonic, etc)
anddetails (e.g. core diameter, tripleorstandard
tube, depth of diamondtails,face‐sampling bit or
other type,whethercore is oriented and if so, by
what method, etc).
Conserrat RC Drilling

The reverse circulation percussion (RC) method used in this program used a 5.5”
(289mm) face sampling bit with a first phase of sample splitting into two portions
of approximately 75% and 25% undertaken in the RC cyclone with outlets into
two plastic (dry samples) or micro-porous cloth bags (wet samples).
Conserrat Diamond Drilling

The diamond drilling has HQ diameter with triple tube core recovery
configuration.
Drill Sample
Recovery
• Method of recording andassessingcore and chip
sample recoveriesandresultsassessed.
• Measures taken to maximisesamplerecovery and
ensurerepresentativenature of thesamples.
• Whether a relationshipexistsbetween sample
recovery and gradeandwhether sample bias may
haveoccurreddue to preferential loss/gainof
fine/coarsematerial.
Conserrat RC Drilling

Sample recovery was monitored by weighing sample bags on scales beside the drill
rig.

To make sure that chip sample recovery was maximized the outlets from the
cyclone into the sample bags were carefully sealed. The cyclone and drill string
were regularly cleaned by the drill operators using compressed air to prevent
down hole contamination.

There has not been any investigation into the relationship between sample
recovery and grade.

It is considered that there was not any preferential loss/gain of fine or coarse
material.
Conserrat Diamond Drilling

Diamond drill core recoveries were assessed using the standard industry best
practice which involves:
o Measuring core lengths with a tape measure.
o Removing the core from the split inner tube and placing it carefully in the core
box.
o Assessing recovery against core block depth measurements.
o Measuring RQD, recording any measured core loss for each core run.

All core was carefully placed in HQ sized core boxes and transported a short
distance to a core processing area were logging and photography could be
completed.

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ASX Announcement

Criteria JORC Code Explanation Commentary

Diamond core recoveries average 98% through all the meters drilled.

Overall, core quality is good, with minimal core loss. Where there is localized
faulting and or fracturing core recoveries decrease, however, this is a very small
percentage of the mineralized intersections.

Logging
• Whether
core and chip sampleshavebeen
geologically andgeotechnicallylogged to a level of
detail tosupportappropriate MineralResource
estimation,
mining
studies
and
metallurgical
studies.
Systematic geological logging was undertaken using a hand lens to closely
examine the chips and cores. Data collected includes:

Nature and extent of lithologies.

Relationship between lithologies.

Alteration extent, nature and intensity.

Oxidation extent, mineralogy and intensity.

Sulphide types and visually estimated percentage.

Quartz vein, veinlets, breccia types and visually estimated percentage.

Structures occurrence and attitude.

Chips from crucial zones of interest are checked later, off site, by examination
with a 10x binocular microscope.
• Whether logging is qualitativeorquantitative in
nature. Core (orcostean,channel, etc)photography.
Conserrat RC Drilling

Both qualitative and quantitative data is collected, though quantitative data is
based on visual estimates, as described above.

All holes are logged from start to finish and were conducted on drill site.
Conserrat Diamond Drilling

All holes are logged from start to finish and were conducted on the core shack.

Both qualitative and quantitative data is collected, using predefined logging codes
for lithological, mineralogical, and physical characteristics.

Cores are photographed after logging, with sample numbers marked in the boxes,
before and after being cut and sampled.
• The total length and percentageofthe relevant
intersectionslogged.

100% of all recovered chips and cores are logged.
Sub-
Sampling
Techniques
If core, whether cut or sawn and whether quarter, half
or all core taken.

Representative half core samples were split using rock saws.

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28

ASX Announcement

Criteria JORC Code Explanation Commentary
and Sample
Preparation
• If non‐core, whether riffled,tubesampled, rotary
split, etc andwhethersampled wet ordry.
• For all sample types, thenature,quality and
appropriateness
of
the
sample
preparation
technique.
• Quality control proceduresadoptedfor all sub‐
sampling stages tomaximiserepresentativity 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.
Conserrat RC Drilling

The small sample bags derived from the initial RC rig cyclone and riffle splitting
reach a weight of 2.7-4Kg.

Wet samples were split with a hydraulic cone splitter from the cyclone in bags
with a micro-porous fabric, which allowed water to escape without loss of
particulate material.

The riffle splitter was cleaned with compressed air between samples to prevent
sample contamination.

The big bag with the original reject from the RC rig after the splitting have been
stored for any future re-sampling needs.
Conserrat Diamond Drilling

The core intervals were marked, and the core was split with a rock saw.

Half core samples were placed in plastic bags and tagged with a unique sample
number. The other half of the core was returned to the core box and securely
stored
Laboratory

In the Alex Stewart preparation laboratory facilities samples were dried and
crushed until more than 80% is finer than 10 mesh size, then a 600g split is
pulverized until 95% is finer than 106 microns.

Certified Standard Reference materials and duplicate samples are inserted every
25 samples (RC) and every 12.5 samples (DDH) to assess the accuracy and
reproducibility.

Sample sizes are considered appropriate.
Quality of
Assay Data
and
Laboratory
Tests
• The nature, qualityandappropriateness of the
assayingandlaboratory procedures used and
whetherthe technique is considered partialor total.
• For geophysical tools, spectrometers, handheld
XRF instruments, etc, the parameters used in
determining the analysis including instrument make
Conserrat Rock Chip Sampling

Four acid digest and ICP-MS is the most robust analytical method for full
digestion and qualitative analyses of multi-element concentrations.
Duplicate samples were collected.Standard assay procedures performed by a
reputable assay lab (Alex Stewart) were undertaken. Gold assays are by a 50g fire

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29

ASX Announcement

Criteria JORC Code Explanation Commentary
and model, reading times, calibrations factors
applied and their derivation, etc.
• Nature of quality control procedures adopted (e.g.
standards, blanks, duplicates, external laboratory
checks) and whether acceptable levels of accuracy
(i.e. lack of bias) and precision have been
established.
assay with an atomic absorption finish. Silver was read by gravimetry on micro-
balance.
Conserrat RC and Diamond Drill Program

No geophysical tools were used in the determination of the assay results. All assay
results were generated by an independent third-party laboratory as described
above.

Certified reference material, blanks or duplicates were inserted at least every 25
samples. Standards are purchased from a Certified Reference material
manufacture company – Ore Research and Exploration. Standards were
purchased in foil lines packets of between 60g and 100g. Different reference
materials were used to cover high grade, medium grade and low grader ranges of
gold and silver. The standard names on the foil packages were erased before going
into the pre-numbered sample bag and the standards are submitted to the lab
blind.
Verification
of sampling
and
assaying
• The verification ofsignificantintersections by either
independentoralternative companypersonnel.
• 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.

The raw assay data forming significant intercepts are examined and discussed by at
least two company personnel.

No twinned holes have been used at this stage.

Drill hole logging data has been collected in paper form in the field, with careful
verification by several staff, particularly of the sample numbers and drill hole
sample intervals and entered into Excel. This data is then transferred to MapInfo
format.

Assay data is provided by Alex Stewart in three formats, csv spreadsheets, Excel
spreadsheets and signed pdf files. The csv files are used to merge the data into
MapInfo files. Hard copy of this and other data is stored with the other drill hole
data. Absolute values of the assay results are checked by comparing results of the
quality control samples with the known values of the international standards and
sterile samples which were inserted by the geologists into the sample sequence.
Repeatability of assay results was verified by examining the results of duplicate
samples inserted by the company and internal laboratory duplicate results included
with the assay certificates.
Location of
Data Points
• Accuracy and quality of surveysusedto locate drill
holes(collar anddown‐holesurveys),trenches,

Drill hole collars are located using Garmin hand-held GPS accurate to ±5m.

All coordinates are based on UTM Zone 19S using a WGS84 datum.

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30

ASX Announcement

Criteria JORC Code Explanation Commentary
mineworkingsand other locations used inMineral
Resourceestimation.
• Specification of the gridsystem used.
• Quality and adequacy oftopographic control.

Topographic control to date has used GPS data, which is adequate considering
the small relief (<50m) in the area.
Data
Spacing and
Distribution
• Data spacing for reportingofExplorationResults.
• Whether the data spacinganddistribution is
sufficient to establishthedegree of geological and
gradecontinuityappropriate for the Mineral
ResourceandOre Reserve estimation procedure(s)
andclassificationsapplied.
• Whether sample compositing has been applied.

Conserrat is a new discovery and as a result the drill hole spacing is variable, with
closer spacing on zones where surface sampling has given encouraging results (30-
40m along strike) and some scout holes testing geophysical or conceptual targets
hundreds of metres from the mapped veins.

Not applicable as no Ore Resource or Reserve has been completed at Conserrat.

No sample compositing has been applied.
Orientation
of Data in
Relation to
Geological
Structure
• Whether the orientation ofsamplingachieves
unbiased sampling ofpossiblestructures and the
extent to which thisisknown, considering the
deposittype.
• If the relationship betweenthedrilling orientation
and the orientationofkey mineralized structures is
consideredto have introduced a sampling bias,this
should be assessed and reportedif material.

Drilling is orientated to cross the interpreted, steeply dipping mineralized veins
at a high angle. No known bias has been introduced into the drilling orientation.
Sample
Security
• The measures taken toensuresamplesecurity.
Chain of custody was managed by E2Metals. Samples were placed into taped
polyethylene bags with sample numbers that provided no specific information on
the location of the samples. Samples were transported from site to the Alex
Stewart preparation lab in Puerto San Julian by E2Metals personnel and after
preparation pulps were transported to Mendoza or Perito Moreno for final
analysis using transport organized by Alex Stewart.
Audits or
Reviews
• The results of any audits orreviewsof sampling
techniques anddata.

No audit or review of the sampling regime at Conserrat has been undertaken.

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31

ASX Announcement

Section 2 Reporting of Exploration

Criteria JORC Code Explanation Commentary
Mineral Tenement
and Land Tenure
Status
• Type, referencename/number,location and ownershipincluding
agreements or material issueswiththird parties such as joint
ventures,partnerships, overridingroyalties,native title interests,
historicalsites,wilderness or national parkandenvironmental
settings.
• The security of the tenure held at the time of reporting along with
any known impediments to obtaining a license to operate in the area.
E2 Metals Limited holds an 80% interest in the Conserrat
Project through its ownership in local Argentine holding
company Minera Los Domos SA.
Conserrat Project titles
• Title ID 437.471/BVG/17
Exploration Done
by Other Parties
• Acknowledgment andappraisalof exploration by otherparties. Reconnaissance exploration by IAMGOLD
• During the early 2000s IAMGOLD collected 131 vein
outcrop and float samples within the project area.
Reconnaissance exploration by Circum Pacific Pty Ltd
• Between the period October 2017 to March 2018
Circum Pacific Pty Ltd collected 120 vein outcrop and
float samples within the project area.
Geology • Deposit type, geologicalsettingand style ofmineralisation. Santa Cruz Geology and Deposit Model
• Conserrat is located towards the central eastern
margin of the extensive ~60,000 km.sq Deseado
Massif geological province that stretches across
southern Argentina into the Chilean southern Andes.
This massif is made up of Jurassic volcanic and
volcaniclastic rocks of the Chon Aike formation.
• Important precious metal deposits have been
discovered in the province during the past 20 years.
Gold and silver mineralisation is associated with Low
Sulphidation (LS) Epithermal veins in northwesterly
structures that were active at the time of
mineralisation.

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32

ASX Announcement

Criteria JORC Code Explanation Commentary
Drill Hole
Information
• A summary of allinformationmaterial to the understanding ofthe
exploration results includingatabulation of thefollowing
information for all Material drillholes:
• 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
If the exclusion of this information is justified on the basis that the
information is not Material and this exclusion does not detract from the
understanding of the report, the Competent Person should clearly explain
why this is the case.
Drill hole information is provided in Table 1.
Data Aggregation
Methods
• In reporting ExplorationResults,weighting averagingtechniques,
maximum and/or minimumgradetruncations (e.g. cutting of high
grades)and cut‐off grades areusuallyMaterial and should bestated.
• 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 foranyreporting of metal equivalentvalues
should be clearlystated.
No weighting averaging techniques, maximum and/or
minimum grade truncations have been applied when
reporting drill hole results.
Relationship
Between
Mineralisation
Widths and
intercept lengths.
• These relationshipsare particularlyimportant in thereportingof
ExplorationResults.
• 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”).
It is not possible to measure the geometry of mineralised
veins and/or structures in RC drill holes.

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33

ASX Announcement

Criteria JORC Code Explanation Commentary
Diagrams • Appropriate maps andsections(with scales) and tabulationsof
intercepts should be included foranysignificant discovery being
reportedThese should include, but notbelimited to a plan view of
drillholecollar locations andappropriatesectionalviews.
Yes.
Balanced Reporting • Where comprehensivereportingof all Exploration Results isnot
practicable, representativereportingof both low and high grades
and/orwidths should be practiced toavoidmisleading reporting of
Exploration Results.
Yes
Other Substantive
Exploration Data
• Other exploration data,ifmeaningful and material, shouldbe
reported including (but notlimitedto): geologicalobservations;
geophysical surveyresults;geochemical survey results;bulksamples
– size and methodoftreatment; metallurgical testresults;bulk
density,groundwater,geotechnical and rockcharacteristics;
potential deleteriousor contaminating substances.
There is no “other” exploration data to report
Further Work • The nature and scale ofplannedfurther work (e.g. tests forlateral
extensions or depth extensionsorlarge‐scale step‐outdrilling).
• Diagrams clearly highlightingtheareas of possible extensions,
includingthe main geologicalinterpretationsand future drilling
areas, providedthisinformation is notcommercially sensitive.
Exploration drilling is ongoing

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34