UNION STAR METALS LTD — Interim / Quarterly Report 2021

Jul 28, 2021

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ASX:PVW

Over the past quarter PVW Resources Limited (PVW or the Company) has progressed each of its projects through various forms of exploration and drilling along with the addition of the Ballinue Ni-Cu-PGE project and the increase of our Kalgoorlie King of The West project by 50%.

Highlights

• › Kalgoorlie – King of The West, positive gold results returned from auger drilling of E27/614, large >40ppb anomalies, and a discrete 1.2km section along southernmost line with open anomalies in numerous directions

• › Kalgoorlie – Gordon Sirdar extension of auger grid on E27/571 to the north of Gold anomalies, results pending

• › Kalgoorlie – Black Flag Aircore program completed although shortened due to wet surface conditions, results pending

• › Leonora – Jungle Well Resource RC drilling partial results returned including significant Gold results, remainder of results pending

• › Leonora – Brilliant Well RC drilling was completed with 4 holes for 384m testing for NW trending mineralisation

• › Leonora – Brilliant Well Aircore drilling was well underway with 31 holes for 2,501m completed to test stratigraphy north of Brilliant Well

• › Tanami – Heritage Survey and initial field trip complete. Heritage approval received for Airborne Geophysical Survey and confirmation of July start date, pending unforeseen circumstances

• › REE desktop review has commenced largely focussed on historical work during the early 2010s including drilling results. This along with the outcomes of the upcoming airborne survey in late July will assist the ground based program in August in relation to our REE exploration program

• › Subsequent to the quarter end, the Company has added a new project to its asset base with the staking inclusion of the Ballinue Project (Ni-Cu-PGE) and the acquisition of additional ground associated with its Kalgoorlie Project through an asset swap and acquisition of Stark Pty Ltd

• › Administration and Technical Staff have joined the team, including two Geologists

Exploration activities

The Company is primarily focused on gold exploration on its Leonora, Tanami and Kalgoorlie projects along with the REE potential at the Tanami project and the newly established Ballinue Ni-Cu-PGE project.

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Kalgoorlie Gold Project

Auger drilling

Exploration activities continued during the quarter with auger drilling over the northern third of E27/614 and extension of auger coverage to the north of previous auger over E27/571. In total a further 730 samples were collected for low level gold and multielement analysis. The Ultrafine method of analysis utilised by Labwest has become a popular and successful analysis technique.

Positive results were returned in early April from auger drilling on E27/571 hence extension to the north of existing auger samples (ASX:PVW, 9[th] Apr 2021, Kalgoorlie Project – Auger Results Confirm Gold Target).

Results on E27/614 were also very encouraging. As a first pass to test the King of The West geophysical target the 6km x 3km area has been auger drilled on a 400m x 100m spaced grid with positive results. Elevated gold contourable >40ppb Au, numerous samples >50ppb Au located along trends and as multiple sample anomalies confirm the need for Aircore drilling to test for the source of the elevated gold results (ASX:PVW Kalgoorlie – King of The West Highly elevated auger gold outlines new drill targets).

The southernmost line of auger sampling intersected a 1.2km long section of highly anomalous Au results, at >50ppb the anomalous section is open to the south, requiring extension of the 400m x 100m auger grid prior to Aircore drilling (Figure 1).

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Figure 1: King of The West auger results, highlighting main anomalous zones and southernmost line with 1.2km section of >50ppb Au.

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Black Flag Aircore drilling

Aircore drilling at Black Flag resulted in 61 holes for 3,200m to follow up anomalous historical drilling results. Results were pending at the end of the quarter. Three lines were shortened due to the impact of heavy rainfalls on claypans. These sections of lines will be re-visited when access allows.

While transported material included paleochannel deposits their thickness and lateral extent was not considered prohibitive to exploration drilling efforts. Results are pending for the drilling.

Leonora Gold Project

Jungle Well

An infill and extensional RC drilling program was completed at Jungle Well with a program total of 33 holes for 2,872m of RC drilling. The program aims to infill and extend the Jungle Well Inferred Mineral Resource Estimate. Samples were sent to SGS Laboratories in Perth for Fire Assay Au analysis. Results returned to date indicate very positive shallow oxide mineralisation intersected in infill drilling north of the previously mined open pit (Figure 4), and positive results in fresh rock downdip form the open pit. Significant results are shown in Figure 3, for a full list of significant intercepts refer to ASX:PVW 24[th] June 2021, High Grade Gold in RC drilling at Jungle Well.

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Figure 2: Leonora exploration summary, showing location of RC drilling completed at Jungle Well and at Brilliant Well, also highlighting the planned Jungle Well MLEM survey and Brilliant Well Aircore drilling ongoing at the Quarters end.

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Figure 3: Jungle Well open pit showing drilling completed during the Quarter and significant results returned. For full list of significant intercepts refer to ASX:PVW 24[th] June 2021, High Grade Gold in RC drilling at Jungle Well)

Figure 4: Section A – A’ looking north showing mineralisation and shallow dipping shear zone.

PVW has contracted Southern Geoscience Consultants (SGC) to complete a Moving Loop Electromagnetic Survey (MLEM) over the northern extension of historical EM conductors encountered in M37/135. The ground geophysics survey has been postponed to August due to wet ground conditions causing delays on other contracts.

Historical conductors lie along the Jungle Well mineralised trend, and along parallel trends to the east where the magnetic data maps a complex series of folded and faulted bedrock units. Exploration activities will include further assessment of untested or poorly tested conductors JEM3-10, and JEM2 (north). Follow up activities will include FLEM and/or drilling to test for sulphiderelated mineralisation. The currently approved programme of regional MLEM is confirmed as the best option to follow-up the open JEM02 and JEM04 anomalies to the north of the current survey limits (refer to ASX:PVW 24[th] June 2021, High Grade Gold in RC drilling at Jungle Well).

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Brilliant Well

Exploration commenced at Brillant Well with both RC and Aircore drilling progressing during the quarter. Aircore drilling resulted in 31 holes for 2501m, approximately half of the proposed program. A small RC drilling program was completed with 4 holes for 384m. Geology intersected in the RC drilling is consistent with the style of deformation, sulphides and veining observed in mineralised intervals from historical Aircore holes.

Some 4km of strike over magnetic anomalies and large interpreted structures will be tested with Aircore drilling as first pass regional exploration with the majority of this 4km having never been drilled.

The presence of transported cover of unknown thickness requires the use of Aircore drilling to test these regional targets. Current drilling activities aim to follow up recent mineralisation intersected by a small Aircore program completed by PVW in 2019. The 2019 drilling was aimed at testing a possible northwest trend to sporadic near surface mineralisation. Previous exploration had tested the regional north-northeast orientation while a northwest strike was inferred at the prospect scale. The north-northeast trend is considered regionally significant and is appropriate for regional exploration targeting. However, significant mineralisation was intersected on the interpreted northwest structure and this will be further investigated with RC drilling to confirm the orientation and the dip of what appears to be mineralisation traversing the regional structural trend. Results from the 2019 program being followed up with RC drilling, include 19BWAC007 4m @ 4.09g/t Au from 27m and 19BWAC006 6m @ 1.96g/t Au from 67m (ASX:PVW, Thred Prospectus Appendix A – Independent Geologists Report, Appendix 1).

Tanami Project

In preparation for exploration activities PVW have undertaken a heritage survey with representative from traditional owners the Tjurabalan. The required heritage survey was completed with traditional owners in attendance, subsequently providing the approval for the planned airborne magnetic survey. The field trip was the first for PVW in the region and was an important step in building long-term relationships with important stakeholders. Following discussions in the field PVW has re-named the Killi Killi West Prospect to Watts Prospect and the Killi Killi Trend to Watts Trend (referring to Watts Rise a nearby topographical high point).

As a first step to testing the rare earth (REE) potential of the Watts Trend, the geological setting of and exploration results from previous tenement holder, Orion Metals Limited (ORM), were investigated during recent field activities. The observations included validating some of the drill hole and outcrop data collected by previous explorers. These observations will assist in making an informed review of the ORM exploration results, with a focus on unconformityrelated REE deposits. This work will be run in conjunction with the gold exploration program on the Tanami project, starting with an airborne magnetics and radiometrics survey to commence early in the next quarter (ASX:PVW, 3[rd] May 2021 Tanami Project – REE opportunity to be evaluated).

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The airborne geophysical survey will commence in July 2021. The survey will be approximately 16,000 line kms, with a 50m line spacing and 30m flying height providing the detailed geophysical data (magnetics and radiometrics) required to complete high resolution coverage of PVW’s Tanami tenure. SGC will interpret the geophysical data at 1:50,000 scale across the entire project area, integrating all available relevant geoscientific information, allowing for the mapping of lithologies and structure. The detailed radiometric data will be particularly useful in identifying further REE targets across the entire Tanami project area. Additional detail at 1:10,000 scale will be carried out over focus areas. Detailed interpretation is proposed at to allow planning of drilling and detailed field activities, including ground geophysics and geochemical surveys over gold and REE prospects. The work will comprise the compilation of all available project and regional scale geoscientific data, including the processed aeromagnetic, radiometric, DEM, airborne gravity, satellite, government geology datasets and any company held data.

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Figure 5: PVW Tanami Project location in relation to known REE and gold projects.

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Exploration activities forecast for the next Quarter:

• › Leonora – remaining assay results are expected for infill and extensional RC drilling of the Jungle Well Inferred Mineral Resource Estimate;

• › Leonora – MLEM survey proposed for E37/909 ad M37/135 to follow up and extend historical conductors and positive historical drilling results;

• › Leonora – continuation of Brilliant Well Aircore, results awaited for Aircore and RC drilling;

• › Kalgoorlie – King of The West and Gordon Sirdar results, and extension auger grid to the south of anomalous results on E27/614;

• › Kalgoorlie – Black Flag prospect Aircore drilling results;

• › Kalgoorlie – heritage surveys to accommodate Aircore drilling at King of The West and Gordon Sirdar, and;

• › Tanami – completion of detailed airborne magnetic survey and further heritage surveys for ongoing gold and REE exploration.

Corporate

Portfolio enhancement

Subsequent to the quarter end, the Company has added a new project to its asset base with the staking inclusion of the Ballinue Project (Ni-Cu-PGE) and the acquisition of additional ground associated with its Kalgoorlie Project through an asset swap and acquisition of Stark Resources Pty Ltd (Stark).

Ballinue Ni-Cu-PGE Project (subsequent to the end of Quarter)

PVW is poised to commence exploration in the highly prospective West Yilgarn Ni-Cu-PGE Province. Continued success by numerous explorers such as Chalice Mining, Pursuit Minerals, Caspin Resources, Todd River Resources and Desert Metals attest to exploration potential within the province. Following appraisal of numerous projects and available areas, tenement applications are in place for three large exploration licenses (E59/2585, E59/2586 and E09/2601) covering an area of 950km[2] . Assessment of magnetic anomalies will commence once exploration tenure is granted.

We have developed a low-cost entry into this exciting province through a number of new tenement applications. The applications are located within the Youanmi Terrane (Murchison Domain) and Narryer Terrane, both highly prospective subdivisions of the Yilgarn Craton, and potential hosts of layered mafic-ultramafic complexes with Ni-Cu-PGE mineralisation.

Continued success of numerous companies exploring within the West Yilgarn Ni-Cu-PGE Province are testament to the fertility of the Yilgarn Craton margin. A few examples of companies being rewarded with exploration success include the following:

• › ASX:CHN Chalice Mining – Julimar Project

• › ASX:CPN Caspin Resources – Yarrawindah Brook Project

• › ASX:TRT Todd River Resources – Berkshire Valley Project

• › ASX:DM1 Desert Metals – Narryer Project

• › ASX:PUR Pursuit Minerals – Combatant Project

• › ASX:LTR Liontown Resources – Moora Project

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Figure 6: PVW – Ballinue Project location within the highly prospective West Yilgarn Ni-CuPGE Province.

Historical exploration within the tenure has been limited. The eastern tenements, predominantly over the Murchison Domain, were explored for diamonds by CRA Exploration in the late 1990’s with regional stream sediment sampling. Tenements E59/2585 and E59/2586 have not been explored for other metals.

The western tenement E09/2601 is located over the Narryer Terrane, with geology dominated by gneissic rocks of granitic, mafic, ultramafic and sedimentary origins. Exploration undertaken by Terrain Minerals in 2018 produced encouraging results. Of specific relevance to PVW are the two drill holes RMRC003 and 004, completed to test an interpreted east-west trending epithermal vein system. The drill holes intersected granite gneiss and at least two mafic sills or dykes. In RMRC003 weakly elevated Cu and Zn with Barium (Ba) were intersected in a mafic sill between 37m and 39m. Hole RMRC004 intersected above background (low background in granite / gneiss) Cu and Zn in a mafic sill between 78m and 81m downhole depth. For the full ASX release visit Terrain Minerals ASX:TXM, 12th September 2018, Positive First Round Drilling Results at Red Mulga.

Once granted, the Company intends to commence low-impact regional exploration such as soil sampling, mapping and reconnaissance to confirm target areas. Detailed geophysics and geochemistry will be key to testing regional geophysical anomalies and to identify new targets

While PVW is focused on exploring for gold in our three core projects, the addition of the Ballinue Project provides the Company with medium term options for organic growth through discovery.

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Figure 7: Ballinue Project Exploration Licence Applications and magnetic anomalies (red-white dashed lines represent subtle anomalies that are considered priority areas for initial exploration). Regional statewide magnetic imagery as background, GDA 94 (MGA Zone 50).

Figure 8: Tenement map showing location of current, acquired and divested tenure in relation to recent exploration activities. Note the location of Black Flag Aircore (results pending), Auger on E27/571 (results pending). For full results of PVW Auger refer to ASX:PVW 17[th] June 2021, Kalgoorlie West – Positive Auger Results Outline Targets, and 19[th] April 2021, Kalgoorlie Project – Auger Results Confirm Gold Target.

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King of The West Project acquisition (subsequent to the end of Quarter)

PVW has entered into agreements with adjoining tenement holders increasing the prospective Kalgoorlie tenement package by 50% to over 150km[2] . This was achieved through an asset swap with Yandal Resources (ASX:YRL) with a 2% NSR Royalty on each other’s properties in the transaction along with a land package of 29km[2] acquired by way of acquisition of Stark. Recent positive auger geochemical sampling results provided the impetus for PVW to undertake these transactions and increase the size of the Kalgoorlie – King of The West Project.

Project summary

Located at the heart of the PVW’s Kalgoorlie Project, King of The West is a prospective area for gold mineralisation. The return of positive assays from recent auger sampling with E2/614, confirms the prospectivity of the project.

The recent auger drilling and geochemical sampling on E27/614 are the first detailed systematic exploration activities undertaken over the northern third of the tenement. Results returned to date include large Au anomalies >40ppb Au with, numerous results >80ppb Au, peaking at 176ppb Au. The southernmost line of the 400m x 100m auger grid returned a 1.2km continuous section of >80ppb Au.

Auger coverage of this open anomaly will be extended (commencing immediately pending good weather) to the south, prior to Aircore drilling. Results are pending for extensional auger drilling on E27/571, as are assays from the Black Flag Project Aircore drilling.

Project expansion

The additional tenements acquired are strategically located, either abutting or adjacent to PVW’s existing tenure.

To consolidate tenements into PVW’s subsidiary PVW Kalgoorlie Pty Ltd, the following transactions are agreed:

• 1) PVW and YRL have agreed to swap interests in respective tenements. The tenement swap includes a 2% NSR Royalty applicable to tenure acquired by each party only.

• 2) PVW has executed a binding terms sheet to acquire 100% of the issued capital of Stark, pursuant to which PVW will pay the following consideration to the Stark vendors:

a) cash payment of $15,000;

• b) 1,500,001 fully paid ordinary shares in the capital of PVW; and

• c) 1,700,000 performance rights comprised of 850,000 tranche A performance rights and 850,000 tranche B performance rights, on terms to be agreed and subject to ASX approval.

The Stark transaction is conditional on conclusion of satisfactory due diligence.

People

During the quarter two exploration geologists were added to the team led by Karl Weber, Exploration Manager.

Mr Robin Wilson has held senior exploration positions in several exploration and mining companies, including Northern Minerals Limited, Polaris Metals, Tanganyika Gold, Troy Resources and CRA Exploration. During the 30 years of

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his involvement in mineral exploration, Mr Wilson has worked on gold, nickel, phosphate, copper, REE and uranium projects throughout Australia and Africa. Between 2006 and 2021 he led the Northern Minerals Limited exploration team that discovered the Browns Range REE deposits, which have been developed and delivered HRE carbonate to the world.

Mr Finn Hunter has also joined the exploration team. He is a geologist with three years’ experience and a strong background in geophysics. Working previously with IGO focussed on exploring in remote areas for various commodities, Finn will be a valuable team member to advance the projects.

Excepts to include in Quarterly Report

• › In accordance with Listing Rule 5.3.5, PVW Resources Ltd advises that payments made to related parties as advised in the Appendix 5B for the quarter ended 30 June 2021 were as follows; $47k for Director fees, $18k for company secretary and accounting services and $3k for rent.

• › In accordance with Listing Rule 5.3.4, as the June 2021 quarter was in a period covered by a ‘use of funds’ statement in the IPO Prospectus, below is a comparison of the Company’s actual expenditure to 30 June 2021 against the estimated expenditure in the ‘use of funds’ statement:

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Per IPO
Prospectus YTD
Use of funds (2-year period) 30 June 2021
Exploration of Leonara Gold Project $1,750,000 $262,339
Exploration of Tanami Gold Project $2,450,000 $264,603
Exploration of Kalgoorlie Gold Project $700,000 $129,852
Administration expenses $1,150,000 $684,572
-
Working capital $150,000
Expenses associated with the acquisition
(including expenses of the offers) $600,000 $559,775
Total $6,800,000 $1,901,140
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Competent Person’s Statement

The information in this document relating to gold exploration activities is based on information compiled by Mr Karl Weber, a professional geologist with over 25 years’ experience in minerals geology including senior management, consulting, exploration, resource estimation, and development. Mr Weber completed a Bachelor of Science with Honours at Curtin University in 1994; is a member of the Australasian Institute of Mining and Metallurgy (Member No. 306422) and thus holds the relevant qualifications as Competent Person as defined in the JORC Code. Mr Weber is a full-time employee of PVW. Mr Weber has sufficient experience which 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 in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Weber consents to the inclusion in this document of the matters based on his information in the form and context in which it appears.

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About PVW Resources

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Leonora Region – 100% 195km[2]

The Company owns 100% Jungle Well and the Brilliant Well projects both with immediate follow up targets. Jungle Well has a 26,800oz Au inferred resource JORC12 compliant, the open pit was mined previously in 1996 during a low gold price. Drilling plans to explore the extension of the existing resource and along strike following up an intersection of 13.2m @ 1.74 g/t which was drilled exploring for Nickel.

The Brilliant Well Project is south of the Bundarra Gold Project (owned by Northern Star) with gold intersections from various drilling programs in 2011 and by PVW in 2019 which included 4m @ 4.09 g/t and 10m @ 3.36 g/t in historical 2011 drilling.

All Leonora Project exploration drilling results refer to ASX:PVW, Thred Prospectus Appendix A – Independent Geologists Report, Appendix 1.

Jungle Well Deposit

November 2019 Maiden Inferred Mineral Resource Estimate (0.5g/t Au Cut-off)

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Tonnage Au
Type kt Au g/t Ounces
LG Stockpile 7 1.3 300
Oxide 210 1.0 6,800
Transitional 309 1.1 10,600
Fresh 208 1.4 9,200
Total 735 1.1 26,800
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Note: Refer to the Thred Ltd website Prospectus, Appendix A – Independent Geologists Report, 2.4 Mineral Resource Estimation – Jungle Well Deposit. The Company confirms that all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed at the time of publication.

Tanami Project – 100% ~1,000km[2]

The Tanami Region hosts the large Callie gold deposit currently being mined by Newmont. Limited exploration has been undertaken in the Tanami and many view this area as highly prospective and very underexplored. Over the past 3 years the Company has put together a 1,000km[2] contiguous land package with solid geological information and historical drill results that require immediate follow up. Previous exploration in the early 2010’s resulted in 12m @ 2.94 g/t from surface and 5m @ 6.99 g/t also from surface. All historical Tanami Project exploration drilling results refer to ASX:PVW, Thred Prospectus Appendix A – Independent Geologists Report, Appendix 1.

Kalgoorlie Region – 100% 96km[2]

Right in and amongst the heartland of gold in Western Australia, PVW has a 96km[2] tenement package within close proximity to many operating gold processing plants. Near term drill targets: Regional Bedrock Targets including previous drill results including 6m @ 2.61 g/t and 4m @ 2.39 g/t and new conceptual targets. Significant drill results in granites and within greenstones. Paleochannel targets with possible links to bedrock mineralisation. All historical Kalgoorlie Project exploration drilling results refer to ASX:PVW, Thred Prospectus Appendix A – Independent Geologists Report, Appendix 1.

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Ballinue Project – 100% 950km[2]

The most recent addition to the PVW portfolio, the Ballinue Project is located in the Mid West region of Western Australia, over the Narryer Terrane and the Murchison Domain, within the West Yilgarn Ni-Cu-PGE Province. The West Yilgarn Province is defined by a corridor along the western margin of the Yilgarn Craton, bounded on the west by the Darling Fault and extending east for some 100km. The corridor hosts significant new discoveries, the most significant being Chalice Mining – Julimar Project (ASX:CHN). PVW’s Ballinue Project is in the application phase and the Company eagerly awaits grant of these tenements to commence systematic exploration, focusing on testing magnetic anomalies that could be the result of Layered Mafic-Ultramafic Intrusions.

Right place for the right times for the right commodity

Western Australia is one of the leading investment jurisdictions according to the recent Fraser Institute rankings. During the challenging times we live in during COVID-19 all our projects and people are in Western Australia with excellent access to the projects. Finally, Western Australia is a global leader in gold production and gold exploration.

Right place for the right times for the right commodity

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PVW TANAMI PTY LTD/PVW EXPLORATION NL TENEMENT SCHEDULE (a wholly owned subsidy of PVW RESOURCES LTD) TENEMENT INFORMATION AS REQUIRED BY LISTING RULE 5.3.3

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TANAMI PROJECT
220 kms South East of Halls Creek
Ownership at
Tenement ID end of Quarter Change during Quarter
E80/4029 100% PVW Tanami PL PVW Exploration NL transferred 35% to PVW Tanami PL
Extension of Term granted
E80/4197 100% PVW Tanami PL PVW Exploration NL transferred 35% to PVW Tanami PL
E80/4558 100% PVW Tanami PL PVW Exploration NL transferred 35% to PVW Tanami PL
E80/4869 100% PVW Tanami PL PVW Exploration NL transferred 35% to PVW Tanami PL
E80/4919 100% PVW Tanami PL PVW Exploration NL transferred 35% to PVW Tanami PL
E80/4920 100% PVW Tanami PL PVW Exploration NL transferred 35% to PVW Tanami PL
E80/4921 100% PVW Tanami PL PVW Exploration NL transferred 35% to PVW Tanami PL
E80/5187 100% PVW Exploration NL 1/02/2021 PVW Resources Limited completed the Takeover
of PVW Exploration NL and its Subsidiaries
E80/5188 100% PVW Exploration NL 1/02/2021 PVW Resources Limited completed the Takeover
of PVW Exploration NL and its Subsidiaries
E80/5189 100% PVW Exploration NL 1/02/2021 PVW Resources Limited completed the Takeover
of PVW Exploration NL and its Subsidiaries
E80/5190 100% PVW Exploration NL – 1/02/2021 PVW Resources Limited completed the Takeover
Application of PVW Exploration NL and its Subsidiaries
E80/5249 100% PVW Exploration NL 1/02/2021 PVW Resources Limited completed the Takeover
of PVW Exploration NL and its Subsidiaries
E80/5250 100% PVW Exploration NL 1/02/2021 PVW Resources Limited completed the Takeover
of PVW Exploration NL and its Subsidiaries
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Please don’t George Bauk Karl Weber
hesitate to get Executive Director Exploration Manager
in touch 0408 931 746 0448 845 507 info@pvwresources.com.au
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PVW KALGOORLIE PTY LTD/PVW EXPLORATION NL TENEMENT SCHEDULE
(a wholly owned subsidy of PVW RESOURCES LTD)
TENEMENT INFORMATION AS REQUIRED BY LISTING RULE 5.3.3
KALGOORLIE PROJECT
30 kms North of Kalgoorlie
Ownership at
Tenement ID end of Quarter Change during Quarter
E27/570 100% PVW Kalgoorlie PL 1/02/2021 PVW Resources Limited completed the Takeover
of PVW Exploration NL and its Subsidiaries
E27/571 100% PVW Kalgoorlie PL 1/02/2021 PVW Resources Limited completed the Takeover
of PVW Exploration NL and its Subsidiaries
E27/614 100% PVW Kalgoorlie PL 1/02/2021 PVW Resources Limited completed the Takeover
of PVW Exploration NL and its Subsidiaries
P24/5290 100% PVW Exploration NL 1/02/2021 PVW Resources Limited completed the Takeover
of PVW Exploration NL and its Subsidiaries
P24/5291 100% PVW Exploration NL 1/02/2021 PVW Resources Limited completed the Takeover
of PVW Exploration NL and its Subsidiaries
P24/5292 100% PVW Exploration NL 1/02/2021 PVW Resources Limited completed the Takeover
of PVW Exploration NL and its Subsidiaries
P24/5293 100% PVW Exploration NL 1/02/2021 PVW Resources Limited completed the Takeover
of PVW Exploration NL and its Subsidiaries
P24/5294 100% PVW Exploration NL 1/02/2021 PVW Resources Limited completed the Takeover
of PVW Exploration NL and its Subsidiaries
P24/5397 100% PVW Kalgoorlie PL 1/02/2021 PVW Resources Limited completed the Takeover
of PVW Exploration NL and its Subsidiaries
P24/5398 100% PVW Kalgoorlie PL 1/02/2021 PVW Resources Limited completed the Takeover
of PVW Exploration NL and its Subsidiaries
P24/5399 100% PVW Kalgoorlie PL 1/02/2021 PVW Resources Limited completed the Takeover
of PVW Exploration NL and its Subsidiaries
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Please don’t George Bauk Karl Weber
hesitate to get Executive Director Exploration Manager
in touch 0408 931 746 0448 845 507 info@pvwresources.com.au
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PVW LEONORA PTY LTD TENEMENT SCHEDULE (a wholly owned subsidy of PVW RESOURCES LTD) TENEMENT INFORMATION AS REQUIRED BY LISTING RULE 5.3.3

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LEONORA PROJECT
60 kms North of Leonora
Ownership at
Tenement ID end of Quarter Change during Quarter
E37/1254 100% PVW Leonora Pty Ltd 1/02/2021 PVW Resources Limited completed the Takeover
of PVW Exploration NL and its Subsidiaries
E37/1394 100% PVW Leonora Pty Ltd 1/02/2021 PVW Resources Limited completed the Takeover
of PVW Exploration NL and its Subsidiaries
E37/909 100% PVW Leonora Pty Ltd 1/02/2021 PVW Resources Limited completed the Takeover
of PVW Exploration NL and its Subsidiaries
M37/135 100% PVW Leonora Pty Ltd 1/02/2021 PVW Resources Limited completed the Takeover
of PVW Exploration NL and its Subsidiaries
P37/9312 100% PVW Leonora Pty Ltd 1/02/2021 PVW Resources Limited completed the Takeover
Application of PVW Exploration NL and its Subsidiaries
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Please don’t George Bauk Karl Weber hesitate to get Executive Director Exploration Manager in touch 0408 931 746 0448 845 507 info@pvwresources.com.au

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PVW Resources Limited

Corporate Office Level 3, 1138 Hay Street West Perth WA, 6005 ABN 36 124 541 466

ASX: PVW T: +61 (0)408 931 746 info@pvwresources.com.au pvwresources.com.au

ASX:PVW