VERITY RESOURCES LIMITED — Capital/Financing Update 2021

Aug 1, 2021

ASX Code: Si6

ASX Announcement

2 August 2021

MINERAL RESOURCE ESTIMATE DECLARED FOR MONUMENT GOLD PROJECT

Highlights

• Mineral Resource Estimate of 154koz for Monument Gold Project declared comprising: o 3.0Mt @ 1.4g/t for 139koz’s Au at Korong deposit

• 0.2Mt @ 2.1g/t for 15koz’s Au at Waihi deposit

• Mineralised shoots at Korong and Waihi remain open in all directions with significant scope for additional resources from further drilling

• Both Korong and Waihi partly amenable to open pit mining methods with further optimization work required

• Many other gold targets along the Korong-Waihi corridor yet to be adequately drill tested

• Future infill and step out drilling programs will aim to increase current resources and define new resources (our brownfield drilling strategy)

• Upcoming drilling program aims to test a number of high priority syenite targets (our greenfield drilling strategy)

Si6 Metals Limited ( ASX: Si6 or the Company ) is pleased to report a JORC (2012) Mineral Resource Estimate at the Company’s Monument Gold Project ( MGP ), Western Australia (Figure 1).

The MGP covers an area of 310km[2] in a well-established mining district with excellent infrastructure and access. The MRE was undertaken on the Korong and Waihi deposits, which occur along ~30km of poorly tested banded iron formation, interpreted to be the same unit that hosts the 1.4Moz Westralia gold deposit (Dacian’s Mt Morgan Project), located immediately southeast of the MGP. To date, only 10% of the 30km strike has been drilled with detailed reverse circulation ( RC ) drilling. There are currently 6 other priority targets identified along the banded iron formations ( BIF ) horizon remaining to be tested (Figure 2).

Executive Chairman Patrick Holywell commented, “The release of the MREs for the Korong-Waihi prospects is a great result for Si6. We now have a resource of circa 154koz which sets a solid foundation. We will continue to focus on finding resources that support a longer term and potentially larger scale mining operation. We will continue to focus on brownfield exploration where we can grow existing resources but we are also excited with other greenfield targets outside of the BIF horizon. One of these greenfield targets will be tested in September with an air core program over a number of high priority syenite intrusive targets.”

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Figure 1 : Location of Monument Gold Project

MINERAL RESOURCE ESTIMATE

The Korong and Waihi MRE was undertaken by CSA Global Pty Ltd ( CSA ), an external and independent geological and mining consultancy and reported in accordance with the guidelines from the JORC Code, 2012 Edition. The principal data set used to calculate the MRE consisted of a Microsoft Access database supplied to CSA by database consultants Geobase Australia Pty Ltd, on behalf of Si6. The data set included all drill holes from the recent 2021 RC drilling program undertaken by Si6 at Korong and Waihi (Table 1).

The MRE are reported by oxidation zone with grade estimates calculated by Ordinary Kriging based on developed block models at the selected cut-off grade of 0.5g/t Au (Tables 2 and 3). Given the outcropping nature of mineralisation, a 0.5g/t Au lower cut-off grade presumes exploitation by open pit mining methods. The majority of the MRE sits within 200m of surface.

Mineralisation remains open along strike at Korong and Waihi and at depth, down-plunge of the modelled higher grade shoots.

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Figure 2 : Monument Gold Project, two resource areas and six target prospects.

Table 1. Summary of drill data supplied to CSA Global.

Category	Waihi	Waihi	Korong	Korong	Korong	Korong	Korong	Total
	RC	DD	RC	DD	RAB	AC	WB
Drillholes	69	7	147	21	21	38	2	305
Metres drilled	3,734	887	9,947	4,795	737	1,926	168	22,195
Surveyrecords	240	12	594	105	21	38	10	1,020
Assayintervals	3,098	289	8,212	2,714	460	1,309	98	16,180
Au assays	3,090	272	8,194	2,653	460	1,303	97	16,069

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Mineral Resource Summary – Korong

Table 2. Korong Mineral Resource statement – August 2021

Table 2.Korong Mineral Resource statement – August 2021	Table 2.Korong Mineral Resource statement – August 2021	Table 2.Korong Mineral Resource statement – August 2021	Table 2.Korong Mineral Resource statement – August 2021
KorongInferred Resource
Oxide zone	Tonnes (kt)	Gold
		Grade (g/t)	Metal (koz)
Primary Oxide	1,972 1,062	1.6 1.1	100 39
Total	3,034	1.4	139

Notes:

• Mineral Resources are classified according to JORC Code definitions.

• All material is classified as Inferred.

• A reporting cut-off grade of 0.5g/t Au has been applied.

• A density value of 2.89 t/m[3] was used for all model cells in the primary zone and 2.47 t/m[3] for all model cells in the oxide zone.

• Rows and columns may not add up exactly due to rounding.

Mineralisation at Korong is hosted within an overturned, east-dipping BIF sequence comprising of at least 5 individual BIF units separated by intercalated metasiltstones, minor ultramafic rocks, and massive and pillowed basalts. The bulk of the gold mineralisation is contained within the 3m to 5m thick basal, magnetite BIF unit.

RAB, AC, RC and DD drilling data supplied by Si6 was validated by CSA who determined the data suitable for resource estimation. All available holes were used to interpret the mineralised bodies, but only diamond and RC drill data was employed in the grade estimation process.

Sampling by Si6 and former project holder DiscovEx Resources ( DCX ) was undertaken at the drill rig with 1m samples collected into pre-numbered calico bags attached to a rig-mounted cyclone with in-built cone splitter. Quality assurance and quality control ( QAQC ) sampling by Si6 and DCX consisted of inserting certified reference materials ( CRMs ), blanks and duplicates in the sample stream. Sampling by previous explorers Carpentaria and WMC was undertaken at the drill site via a riffle splitter with 1m and 2m composite samples reduced to a suitable sample size (1–3 kg) and submitted to the laboratory.

Assaying by Si6 and DCX was undertaken at an accredited laboratory using the fire assay technique. Previous analytical work by Carpentaria and WMC includes fire assay and aqua regia.

3D geology and mineralised wireframe interpretation was based on current understanding of the deposit geology. 20m spaced cross-sections were displayed in Micromine software together with drillhole traces and colour-coded values according to lithology and gold value. A total number of 32 individual mineralised bodies were interpreted and wireframed. Wireframes were created using a 0.2g/t Au grade composite (Figure 3).

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Figure 3: Mineralised envelopes for Korong generated using a 0.2g/t Au composite. Principal basal BIF unit hosting inferred resources is colour-coded blue.

Based on statistical analysis, a top cut of 30g/t Au was selected for the Korong prospect.

An empty block model was created to encompass the full extent of the Korong prospect area. The block model used a parent cell size of 10 m(E) x 10 m(N) x 5 m(RL) with sub-celling to 2 m(E) x 2 m(N) x 1 m(RL) to maintain the resolution of the mineralised bodies. The northing and easting parent cell size was selected based on approximately one half of the average drill section spacing.

Gold grade values were interpolated into the empty block model using the Ordinary Kriging method. The estimation was run within parent cells, i.e. all sub-cells within each parent cell were filled with the same grade. Gold grades were interpolated into the empty block model with the top cut applied. The Ordinary Kriging process was performed at different search radii until all cells were interpolated.

The Mineral Resource has been classified based on the guidelines specified in the JORC Code. At this stage of exploration, based on the observed geological and grade continuity and considering the exploration grid density, CSA Global decided that the Korong Resource should be classified as Inferred for the main mineralised body which is based on at least two intersections along the exploration lines and to the maximum depth with mineralised intersections. All other minor bodies and their projections at depth were left unclassified (Figure 4).

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Figure 4: Resource classification Korong looking southwest (Green = Inferred, Brown = Unclassified).

The Mineral Resource is assumed to be partly amenable to open pit mining methods based on numerous other similar deposits being mined with similar geology along strike and within the Laverton district. Further optimization work is required to assess suitable mining methods.

Mineral Resource Summary – Waihi

Table 3. Waihi Mineral Resource statement – August 2021

Table 3.Waihi Mineral Resource statement – August 2021	Table 3.Waihi Mineral Resource statement – August 2021	Table 3.Waihi Mineral Resource statement – August 2021	Table 3.Waihi Mineral Resource statement – August 2021
Waihi Inferred Resource
Oxide zone	Tonnes (kt)	Gold
		Grade (g/t)	Metal (koz)
Primary Oxide	158 65	2.3 1.6	12 3
Total	223	2.1	15

Notes:

• Mineral Resources are classified according to JORC Code definitions.

• All material is classified as Inferred.

• A reporting cut-off grade of 0.5g/t Au has been applied.

• A density value of 2.89 t/m3 was used for all model cells in the primary zone and

• 2.47 t/m3 for all model cells in the oxide zone.

• Rows and columns may not add up exactly due to rounding.

Mineralisation at Waihi is hosted within an overturned, east-dipping BIF sequence comprising at least 3 individual BIF units separated by intercalated metasiltstones, minor ultramafic rocks, and massive and pillowed basalts. The bulk of the gold mineralisation is contained within the 1m to 3m thick basal, magnetite BIF unit.

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RC and DD drilling data supplied by Si6 was validated by CSA who determined the data suitable for resource estimation.

Sampling by Si6 was undertaken at the drill rig with 1m samples collected into pre-numbered calico bags attached to a rig-mounted cyclone with in-built cone splitter. QAQC sampling by Si6 consisted of inserting CRMs, blanks and duplicates in the sample stream. Sampling by previous explorers Carpentaria and WMC was undertaken at the drill site via a riffle splitter with 1m and 2m composite samples reduced to a suitable sample size (1–3 kg) to be submitted to the laboratory.

Assaying by Si6 was undertaken at an accredited laboratory using the fire assay technique. Previous analytical work by Carpentaria and WMC includes fire assay and aqua regia.

3D geology and mineralised wireframe interpretation was based on current understanding of the deposit geology. 20m to 50m spaced cross-sections were displayed in Micromine software together with drillhole traces and colour-coded values according to lithology and gold value. A total number of 16 individual mineralised bodies were interpreted and wireframed for the Waihi prospect. Wireframes were prepared using a 0.2g/t Au grade composite (Figure 4).

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Figure 4: Mineralised envelopes for Waihi generated using a 0.2g/t Au composite. Principal basal BIF unit hosting inferred resources is colour-coded brown and green.

Based on statistical analysis a top cut of 20 g/t was selected for the Waihi prospect.

An empty block model was created to encompass the full extent of the Waihi prospect area. The block model used a parent cell size of 10 m(E) x 10 m(N) x 5 m(RL) with sub-celling to 2 m(E) x 2 m(N) x 1 m(RL) to maintain the resolution of the mineralised bodies. The northing and easting parent cell size was selected based on approximately one half of the average drill section spacing.

Gold grade values were interpolated into the empty block model using the Ordinary Kriging method. The estimation was run within parent cells, i.e. all sub-cells within each parent cell were filled with the

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same grade. Gold grades were interpolated into the empty block model with the top cut applied. The Ordinary Kriging process was performed at different search radii until all cells were interpolated.

The Mineral Resource has been classified based on the guidelines specified in the JORC Code. At this stage of exploration, based on the observed geological and grade continuity and considering the exploration grid density, CSA Global decided that Waihi should be classified as Inferred for the main mineralised body which is based on at least two intersections along the exploration lines and to the maximum depth with mineralised intersections. All other minor bodies and their projections at depth were left unclassified (Figure 5).

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Figure 5: Resource classification Waihi looking southwest (Green=Inferred, Brown = Unclassified).

The Mineral Resource is assumed to be partly amenable to open pit mining methods based on numerous other similar deposits being mined with similar geology along strike and within the Laverton district. Further optimization work is required to assess suitable mining methods.

EVALUATION AND FUTURE EXPLORATION

Future drilling across the Monument Gold Project will have two objectives. The first style of drilling will comprise systematic RC and diamond core drilling along the Korong-Waihi corridor targeting the numerous “brownfields” prospects with historic drill intercepts of similar grade and tenor to Korong and Waihi. Such prospects have not been followed up since Carpentaria Exploration and Western Mining Corporation undertook intense regional drilling programs in the 1980’s and 1990’s. These infill and step out drilling programs will aim to define new resources and further increase existing inferred mineral resources. Success on this front will assist in demonstrating the potential to support a long term and potentially larger scale mining operation.

The second style of drilling will aim to test “greenfields” exploration targets identified through historic database evaluation, geochemical sampling and geophysical interpretation including syenite intrusive targets. To date, a number of high priority targets have already been identified within the historic database and from a recent regional geophysical interpretation (see ASX release dated 31 May 2021 “Exploration Update – Monument Gold Project WA”). Si6 has plans to commence an air core program designed to test a number high priority syenite intrusive targets in September 2021.

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COMPETENT PERSONS STATEMENTS

Exploration Results

The information in this report that relates to Exploration Results is based on, and fairly represents information and supporting documentation prepared by Mr Michael Jackson, who is a Competent Person and a Member of The Australian Institute of Geoscientists. Mr Jackson is a consultant and Exploration Manager to Si6 Metals Limited. Mr Jackson has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resource and Ore Reserves”. Mr Jackson consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

Mineral Resources

The information in this report that relates to Mineral Resources is based on information compiled by Dmitry Pertel. Mr Pertel is a full-time employee of CSA Global and is a Member of the Australian Institute of Geoscientists. Mr Pertel has sufficient experience 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 the Reporting of Exploration Results, Mineral Resources, and Ore Reserves (JORC Code). Mr Pertel consents to the disclosure of information in this report in the form and context in which it appears.

DISCLAIMER

In relying on the above mentioned ASX announcement and pursuant to ASX Listing Rule 5.23.2, the Company confirms that it is not aware of any new information or data that materially affects the information included in the above announcement. No exploration data or results are included in this document that have not previously been released publicly. The source of all data or results have been referenced.

FORWARD-LOOKING STATEMENTS

This document may include forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning Si6’s mineral properties, planned exploration program(s) and other statements that are not historical facts. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may”, "potential," "should," and similar expressions are forward looking statements. All of such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. Our audience is cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof, and we do not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.

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APPENDIX 1

JORC TABLE 1

Section 1: Key Classification Criteria

Criteria	JORC Code explanation	Commentary
Sampling techniques	Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as downhole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling. Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases, more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information	Majority of drill holes were RC with samples taken with riffle splitter at 1 m intervals. For diamond holes, half core was sampled at 1 m intervals, crushed, pulverized and assayed for gold using fire assay with a 25g or 50g charge and an AAS finish. Shallow open holes (RAB and aircore) were sampled with scoops at 1 m intervals. Geochemical sampling: 392 bulk cyanide leach (BCL) samples were taken over the Korong prospect. Samples were taken at a depth of 15cm at 10m and 100m sample spacing as 3–5 kg composites and submitted for Au analysis. Pre-collar RC and diamond drilling: Pre-collars sampled at one metre intervals and reduced to a 2–3 kg sample and assayed for gold. All holes were used to interpret mineralisation, but only RC and diamond holes were used for the grade interpolation and MRE.
Drilling techniques	Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face- sampling bit or other type, whether core is oriented and if so, by what method, etc.).	At the Korong prospect, a total of 237 holes have been completed for 15,646 m of drilling since 1979, consisting of the following. Korong prospect Open-hole RAB (excluded from the MRE): • BA52-88 inclusive 838 m Tamrock Zoomtrak 600 pneumatic open hole drilling • MKRC64-84 inclusive 737 m Total = 1,575 m. Aircore (excluded from the MRE): • MKRC016-50 – 1,915 m

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Criteria	JORC Code explanation	Commentary
		Total = 1,915 m. Percussion – RC: • KORC001–21 – 2,467 m • KRC001–005 – 690 m • MK001–009 – 648 m • MK019–036 = 411 m • MKRC001–15 – 483 m • MKRC51–63 – 153 m • MRC001–47 – 3,919 m Total = 8,771 m. Diamond holes with percussion/RC pre-collars: • MK037–65 – 1,528 m • MRCD01–07 – 1,857 m Total = 3,385 m. Waihi prospect At the Waihi prospect, a total of 76 holes have been drilled for 5,485 m consisting of the following. Open-hole (RAB) (excluded from the MRE): • BA089–109 – 452 m. Percussion/RC: • MK5 6RC001–015 – 419 m • MK027–30 – 185 m • MK031–33 – 299 m • MK055–59 – 650 m • WAC01–06 – 347 m • WANC01–06 – 345 m • WASC01–03 – 172 m • WHRC001–13 – 2,616 m Total = 5,033 m.
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed.	Sample recovery data was not available for the Korong or Waihi prospects.
	Measures taken to maximise sample recovery and ensure representative nature of the samples.	The historical holes are not documented, though it was reported that cyclone and riffle splitters were cleaned between RC samples.
	Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	The relationship between sample recovery and grades was not established. Sample bias due to preferential loss/gain of fine/coarse material was not observed.
Logging	Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation,	The available database includes geological logging which was completed with sufficient detail. Historical drill logs for multiple drilling campaigns completed since 1979 are available from WAMEX

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Criteria	JORC Code explanation	Commentary
	mining studies and metallurgical studies.	files. The logging nomenclature used by various companies has been standardised and digitally captured by Geobase Data Consultants for majority of the holes. The primary regolith, lithology and colour have been captured for majority of the holes. Though considerable geological data remains to be digitally captured and utilised for geological modelling purposes.
	Whether logging is qualitative or quantitative in nature. Core (or _costean, channel, etc.) photography. _	The logging was qualitative in nature.
	The total length and percentage of the relevant intersections logged.	All drill holes that were used in the MRE were logged in full.
Subsampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken.	Half core was sampled. The core was sawn.
	If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry.	One-metre composites were collected for RC samples. Riffle or cone splitters were used. RC samples weregenerallydry.
	For all sample types, the nature, quality and appropriateness of the sample preparation technique.	Half core was sampled, crushed, pulverised and assayed for gold using fire assay with determination by AAS with 25g or 50g charge. The sample preparation techniques were poorly documented for the historical phases of drilling and the equipment used is not known.
	Quality control procedures adopted for all subsampling stages to maximise representivity of samples.	All samples were crushed, split using a riffle splitter and then pulverised.
	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.	Field duplicate samples were taken at the deposit site together with the original samples. The coding of the field duplicates took place at the deposit sites by Si6 geologists, so the main analytical laboratory was not aware which samples were field duplicates. Data provided for repeat analysis for field duplicates shows it occurred at a frequency of 79 out of 4,592 analyses (1:60)for all SI6 DD and RC drilling.
	Whether sample sizes are appropriate to the grain size of the material being sampled.	Sample sizes are considered appropriate to accurately represent the gold mineralisation at Korong and Waihi based on the thickness and consistency of the intersections, the sampling methodology and the percent value assay ranges for gold. The Competent Person considers that the sample sizes are appropriate to the grain size of material being sampled.

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Criteria	JORC Code explanation	Commentary
Quality of assay data and laboratory tests	The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total.	Fire assay (with AAS ending) has proven to be an accurate analytical technique for gold. The technique is total.
	For geophysical tools, spectrometers, handheld XRF instruments, etc., the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.	Not applicable. Geophysical tools were not used for the MRE.
	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.	Submitting repeat field duplicates to the main laboratory – “ALS Laboratories” in Perth. CRMs and blanks were submitted with each analytical batch to reference the performance of the analysis and sample preparation. It was reported that check assays of elevated 50 g AAS results were undertaken by an umpire laboratory using 50 g fire assays, which reduced gold grades by 10–30%, with occasional exceptions. However, no data were provided for the analysis. The historical drilling results were not supported with the QC results. The QC was analysed for the data generated mostly by Si6 and DCX exploration. The Competent Person considers the assay data suitable for Mineral Resource estimation for the Inferred category, based on assessment of the QC results.
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel.	A review of the sampling techniques and data was carried out by CSA Global during a site visit in June 2021, which verified drilling, logging and sampling techniques.
	The use of twinned holes.	No twinned holes were drilled for the MREpurposes.
	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.	Geobase, a West Perth Database Consultancy currently compiles all the historical exploration data in Mines Department WAMEX files and generates the digital back-ups required for the Monument Gold Project, which includes the Korong and Waihi prospects.
	Discuss any adjustment to assay data.	All grade values equal to negative values were replaced with a value equal to half the detection limit (0.005g/t Au).
	Accuracy and quality of surveys used to locate drillholes(collar and	Geobase was commissioned to digitally capture all the digital data associated with WAMEX digital files.

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Criteria	JORC Code explanation	Commentary
Location of data points	downhole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.	Majority of the historical collar coordinates for the Korong and Waihi prospects were sourced from WAMEX report A89118 – 2010. In this instance, Perto Minerals Limited (Perto) relocated collars in the field and used a handheld GPS to record locations. Errors may have occurred if the wrong collar was identified in the field or if collars were not located and default coordinates assigned. Original collar coordinates were set out by Carpentaria and WMC using a surveyed base line, with tape and compass cross lines. Multiple project grids were established by Carpentaria and subsequently re-surveyed to improve accuracy. There have been at least two sets of local grid coordinates for Carpentaria drillholes with Carpentaria changing the drill collar IDs for the new grid. The changes to Carpentaria’s hole IDs have not been captured digitally and are not recorded in the WAMEX digital files. Consequently, it is possible not all drillholes have been captured by Geobase’s drillhole database compilation. Carpentaria’s upgraded and rationalised drill collar data remains to be digitally captured. Most of the historic drill collars at the Korong prospect have been completely rehabilitated, though at Waihi original collars are still intact, some with labelled perma-tags. Historic drill collar locations at Korong and Waihi remain to be ground validated by either digitising geo-referenced geology maps showing collar locations or surveying existing collars at Waihi by differential GPS with missing collars digitised from historical geology maps. An attempt to validate the collar database was undertaken by comparing an historical Microsoft Access collar database and the current Geobase collar database. Some differences in collar locations were identified. Waihi collar locations were digitised from a geo- referenced historical geology map and merged with the Geobase collar database, replacing existing collar coordinates. These collars were used by CSA Global for MRE. At Korong, 75 holes of the 237 holes drilled were gyro surveyed. These included KORC001-21, MRC001-47, MRCD01-07. Collar set-up declination and azimuth were recorded for the remainder of the holes.
	Specification of the grid system used.	Grid system used is based on GDA94 (Zone 51). Regionalgrid was resurveyed with twogrids:

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Criteria	JORC Code explanation	Commentary
		• Korong South Grid, new base line orientated 328° magnetic • Korong North Grid, new base line orientated 311° magnetic. All cross lines established bytape and compass.
	Quality and adequacy of topographic control.	Collar locations for the recent exploration programs were determined using differential GPS with high precision. Some of the historical collar locations are yet to be confirmed. The topography surface was retrieved from publicly available source SRTM with a reported accuracy of ±10m. The quality and adequacy of topographic control is believed to be sufficient.
Data spacing and distribution	Data spacing for reporting of Exploration Results.	The spacing between drill sections varies throughout the project. The drilling density for the holes drilled at the Korong prospect is generally 20–25m between exploration lines and 10–25m collars along the exploration lines. The drilling density for the holes drilled at the Waihi prospect is generally 25–50m between the exploration lines and 20–50m along the exploration lines. The section spacing is sufficient to establish the degree of geological and grade continuity necessary to support the resource classification applied.
	Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.	The degree of geological and grade continuity demonstrated by the data density is sufficient to classify the Mineral Resource according to the definition of Mineral Resources contained in the JORC Code.
	Whether sample compositing has been applied.	Based on the length analysis of raw intercepts, a 1 m composite length was chosen for the MRE.
Orientation of data in relation to geological structure	Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.	The majority of holes were inclined, which is appropriate for the deposit type and mineralisation style. It is believed that there is no sample bias of the mineralisation due to hole orientation.
	If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	Overall, there is considered to be no sampling bias from the orientation of the drilling due to the nature of mineralisation.

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Criteria	JORC Code explanation	Commentary
Sample security	The measures taken to ensure sample security.	Sample security for historical drilling is poorly documented. With regards to Si6 exploration, all sample bags were labelled individually. Samples were collected in polyweave bags by Si6 personnel. The polyweave bags were transferred into larger bulka bags and then transported to the laboratory by a transport contractor.
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	Sampling techniques and data were reviewed by a CSA Global representative during a site visit completed in June 2021. The review did not reveal any fatal flaws. The sampling and data collection techniques are considered industrystandard.

Section 2: Key Classification Criteria

Criteria	JORC Code explanation	Commentary
Mineral tenement and land tenure status	Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings.	The Mount Korong project is located approximately 750 km northeast of Perth in Western Australia, and approximately 40 km west of Laverton, Western Australia. The two parties, Si6 and DCX have agreed to enter into a binding exclusive Heads of Agreement whereby DCX has granted Si6 an exclusive option to acquire a 100% interest in the project by way of acquisition of 100% of the issued capital of Monument Exploration Pty Ltd. On 26 July 2021, Si6 exercised its option to acquire 100% of the project from DCX. Tenements include: • E39/1846, E39/1866 (Waihi), E39/2024 (Korong), E39/2035, E39/2036, and E39/2139. • P39/5456, P39/5457, P39/5519, P39/5837, P39/5845, P39/5880, P39/5899, P39/5910, P39/6051, P39/6052, P39/6053, P39/6054, P39/6055, P39/6056, P39/6057, and P39/6058. • PendingP39/5881 and P39/5882.
	The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	No impediments are known at the time of reporting.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	Carpentaria 1979 to 1980 Comprised both percussion (2,369m) and core (429.8m)drilling programs. 31 holes(MK9–MK39)

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Criteria	JORC Code explanation	Commentary
		were completed over six geochemical anomalies along a strike length of 8 km. 1980 Detailed geological mapping and additional drilling (1,304m of pre-collars for MK40-46, MK54-64) to delineate gold mineralisation in the basal BIF at Korong. 1983 to 1984 Exploration comprised geological mapping and the drilling of 15 RC drillholes for 483m, testing two main targets. 1984 to 1985 35 aircore drillholes drilled for 1,914.5m, and 13 RC drillholes for 156m. 1985 to 1987 Exploration comprised geological mapping at 1:500 scale, aeromagnetic surveying and interpretation, 62 RC drillholes for 1,913m, and 1 diamond drillhole for 187m. 1987 to 1988 Exploration comprised geological mapping at 1:500 scale, 61 RAB drillholes for 1,270m. WMC (1989 to 1992) WMC conducted exploration comprising the Carpentaria Exploration Company (CEC) West Laverton (including Mount Korong) joint venture, which commenced on 8 June 1989. WMC then conducted surface sampling in three separate phases using successively smaller grid spacings, and collected 7,398 samples over their entire project area, which included Mount Korong. The samples were analysed for gold only. WMC carried out a follow up RC percussion drilling program comprising 16 holes for 841m at Waihi and 22 holes for 1,152m at Mount Korong. At Waihi, six holes (WAC 1–6) were drilled to test for steeply plunging ore shoots associated with the basal BIF, of which four holes intersected mineralised BIF with a best result of 2m at 6.57g/t Au in hole WAC 2. WMC reported that the mineralisation appeared to be confined to a set of north and south plunging shoots. Another group of six holes (WANC 1–6) tested the BIF about 220 m north of the workings where anomalous rock chip samples had been obtained.

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Criteria	JORC Code explanation	Commentary
		A further four holes (WASC 1–4) tested the BIF about 160m south of the workings. Stanley MacDonald (1994 to 1995) During 1994, Stanley MacDonald (“MacDonald”) applied for some of the Mount Korong ground relinquished by CEC, as prospecting licences 39/3357 to 39/3359. MacDonald subsequently purchased the remaining CEC tenements, M39/70 and M39/164 in late 1995. MacDonald then entered in discussions with Dominion Mining Ltd, the operators of the nearby Mount Morgan’s mine, regarding a possible joint venture or royalty arrangement. No drilling was carried out. Dominion Mining (1995) Dominion Mining reviewed the Korong resource as a possible source of oxide open pit ore feed for the Mount Morgan’s mill. Dominion undertook a non- JORC compliant resource estimate. No drilling was carried out. Greenstone Resources NL (1998 to 1999) Greenstone Resources NL collated available exploration data and carried out a detailed ground magnetic survey on 50m and 100m spaced lines approximately normal to the regional trend over the area of the tenement block. Cedardale Holdings Pty Ltd (2001 to 2002) Cedardale Holdings Pty Ltd commenced compilation of historical data into a digital database and carried out a three-hole (total 300m) aircore drilling program close to old shallow workings located southwest of the BIF horizon in an area northwest from Mount Korong. Marengo Mining Ltd (2003 to 2004) Marengo Mining Ltd (Marengo) acquired the Mount Korong project from Cedardale in 2003 with the aim of exploring the main mineralised BIF horizon and expanding and upgrading the two small resources at Mount Korong and Waihi. Marengo drilled five holes (KRC1-5) along the main Mount Korong mineralised zone. Regal Resources (2008 to 2009) Regal Resources (Regal) became the beneficial holder of the tenements from 13 December 2007. Regal commenced a review of the considerable historical information available for Mount Korong.

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Criteria	JORC Code explanation	Commentary
		Regal commenced capturing digital data, but the task was not completed. A drillhole collar file was prepared and populated with surveyed collar locations rather than nominal or planned collar locations. Newcrest Operations Limited (2008) Apart from reviewing the historical data on Mount Korong, Newcrest Operations Limited commissioned a detailed aeromagnetic survey over the entire tenement package. Silverlink – Regal – Perto Minerals Ltd (2010) Silverlink Nominees Pty Ltd executed a farm-in agreement with Regal for the Mount Korong prospecting licences. Perto (2010) Detailed airborne magnetic data (100m line spacing in an east-west direction and a sensor height of 40m) flown by Newcrest Operations Limited to assist in understandingregionalgeology.
Geology	Deposit type, geological setting and style of mineralisation.	The Mount Korong tenements are located on a north-westerly trending sequence of Archaean meta-volcanics and meta-sediments intruded by bodies of mafic and felsic rocks. This sequence forms the western limb of the major south-southeast plunging Mount Margaret Anticline which is cored by a complex granitoid batholith. The sequence generally dips vertically or steeply to the east. The 1.4Moz Westralia gold deposit, hosted by BIF, lies to the south and east along strike from the Mount Korong project tenements. The Mount Korong BIF sequence is the most important geological feature in the project area because it hosts nearly all known gold mineralisation. This sequence lies in the middle of the belt of greenstones and can be traced southwards from Mount Zephyr for 17 km towards Mount Morgan’s. The Mount Korong BIF sequence is about 100 m thick and consists of five individual BIFs separated by intercalated metasiltstones, minor ultramafic rocks, and massive and pillowed basalts. It dips steeply to the east and faces westwards. Thus, a possible overturned limb of an anticline. The western, structurally lowermost basal BIF unit is 1–3 m thick and contains most of the gold, which is localised in shears and in association with chalcopyrite andpyrite. Lesser amounts ofgold are

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Criteria	JORC Code explanation	Commentary
		associated with patchy quartz veining in the overlying thinner BIFs and in the sheared basalts forming the hangingwall immediately to the east of the main BIF.
Drillhole information	A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drillholes: • Easting and northing of the drillhole collar • Elevation or RL (Reduced Level – elevation above sea level in metres) of the drillhole collar • Dip and azimuth of the hole • Downhole length and interception depth • Hole length.	Exploration Results are not being reported.
	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.	Exploration Results are not being reported.
Data aggregation methods	In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated.	Exploration Results are not being reported.
	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.	Exploration Results are not being reported.
	The assumptions used for any reporting of metal equivalent values should be clearly stated.	Exploration Results are not being reported.
Relationship between mineralisation	These relationships are particularly important in the reporting of Exploration Results.	Exploration Results are not being reported.

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Criteria	JORC Code explanation	Commentary
widths and intercept lengths	If the geometry of the mineralisation with respect to the drillhole angle is known, its nature should be reported.	Exploration Results are not being reported.
	If it is not known and only the downhole lengths are reported, there should be a clear statement to this effect (e.g. ‘downhole _length, true width not known’). _	Exploration Results are not being reported.
Diagrams	Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drillhole collar locations and appropriate sectional views.	Relevant maps and diagrams are included in the body of the report.
Balanced reporting	Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	Exploration Results are not being reported.
Other substantive exploration data	Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	No other material exploration results were used in the MRE.
Further work	The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling).	Planned further work recommendations include: • Additional drilling to upgrade the resource classification • Additional density determinations • Completion of a scoping study based on the MRE and other reports.
	Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations andfuture drilling	Diagrams were used for the MRE and included cross sections and collar plans showing the modeled individual lodes.

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Criteria	JORC Code explanation	Commentary
	areas, provided this information is not commercially sensitive.

Section 3: Key Classification Criteria

Criteria	JORC Code explanation	Commentary
Database integrity	Measures taken to ensure that data has not been corrupted by, for example, transcription or keying errors, between its initial collection and its use for Mineral Resource estimation purposes.	All drillhole data were supplied in Microsoft Access format including location, geological and analytical data. In addition, the topography and oxidation surfaces were provided in DXF format. One combined database was provided for the MRE – drillholes for all exploration programs, including recent drilling completed by Si6 in 2021. The database was developed by Si6. All drillholes were logged, and the analytical databases compiled from fire assays(with AAS ending).
	Data validation procedures used.	The following error checks were carried out during final database creation: • Duplicate drillhole names • One or more drillhole collar coordinates missing in the collar file • FROM or TO missing or absent in the assay file • FROM > TO in the assay file • Sample intervals not contiguous in the assay file (gaps exist between the assays) • Sample intervals overlap in the assay files • First sample is not equal to 0 m in the assay file • First depth is not equal to 0 m in the survey file • Total depth of holes less than the depth of the last sample • Several downhole survey records exist for the same depth • Azimuth is not between 0 and 360° in the survey files • Dip is not between 0 and 90° in the survey file • Azimuth or dip is missing in survey file. Drillhole data were selectively verified against source documentation.
Site visits	Comment on any site visits undertaken by the Competent Person and the outcome of those visits.	Dmitry Pertel (Principal Geologist) from CSA Global visited the Korong and Waihi sites from 2 to 3 June 2021. He observed drilling pads, hole collars and their labelling, sample heaps, field duplicates, visited a number of hole collars, verified collar locations, reviewed the deposit geology, observed signs of historical mining activity, and reviewed the access road from the road between Leonora and Laverton. The observations found no material risks to the reporting of an MRE.

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Criteria	JORC Code explanation	Commentary
	If no site visits have been undertaken, indicate why this is the case.	The site visit was completed.
Geological interpretation	Confidence in (or conversely, the uncertainty of) the geological interpretation of the mineral deposit.	The geological interpretation was based on the current understanding of the deposit geology. A series of sub-parallel lenses or sheet-like mineralised bodies were interpreted using a nominal cut-off grade of 0.2g/t Au, which was established using classical statistical analysis. All interpreted strings were snapped to the corresponding grade intervals.
	Nature of the data used and of any assumptions made.	Interpretation for mineralised bodies was based on sampling results of drillholes, which were sampled at 1 m intervals. Drillhole grade composites were generated to assist with interpretation. Grade domains were not modelled as the samples selected by wireframe models did not demonstrate apparent mixingofgradepopulations.
	The effect, if any, of alternative interpretations on Mineral Resource estimation.	No alternative interpretations were adopted. The mineralised bodies were supported by clear geological and geostatistical observations, and 1m sampling at the deposit. Therefore, the Competent Person (Dmitry Pertel) considers that alternative interpretations are not supported and are unlikelytoprovide more appropriate results.
	The use of geology in guiding and controlling Mineral Resource estimation. The factors affecting continuity both of _grade andgeology. _	Lithological logging and gold grades were used to interpret all modelled mineralised bodies. The nominal cut-off of 0.2g/t Au was used to interpret all mineralised bodies.
Dimensions	The extent and variability of the Mineral Resource expressed as length (along strike or otherwise), plan width, and depth below surface to the upper and lower limits of the Mineral Resource.	The mineralisation is sub-parallel to the BIF formations. Korong – trends roughly north-northwest with a strike azimuth of 330° and dipping about 40° to northeast. A total strike length of about 950m and down dip length of about 400m. Waihi – trends roughly northwest with the strike azimuth of 310° and dipping about 75° to northeast. A total strike length of about 750m and down dip length of about 200 m. The mineralisation is on average about 4–5m thick but is up to 10–15m thick in the oxidised zone.

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Criteria	JORC Code explanation	Commentary
Estimation and modelling techniques	The nature and appropriateness of the estimation technique(s) applied and key assumptions, including treatment of extreme grade values, domaining, interpolation parameters and maximum distance of extrapolation from data points. If a computer assisted estimation method was chosen, include a description of computer software and parameters used	The MRE is based on surface RC drilling using Ordinary Kriging to inform blocks with the parent cell size of 10m x 10m x 5m. The block model was constrained by 16 mineralisation wireframe models for the Waihi prospect and 32 mineralisation wireframe models for the Korong prospect. Sectional interpretation was carried out for all mineralised bodies. 28 and 21 cross sections were interpreted for the Korong and Waihi prospects respectively. Hard boundaries were used between the interpreted mineralised bodies, and each body was estimated separately from all others. The drillhole data was composited to a consistent length of 1m based on the length analysis of raw intercepts. The following table shows the interpolation parameters adopted for the increasing search-ellipse dimensions, based on variogram model anisotropy, for successive estimation passes for un estimated blocks from left to right:
	The availability of check estimates, previous estimates and/or mine production records and whether the MRE takes appropriate account of such data.	At Korong, CEC in 1988 reported an Inferred Mineral Resource of 160,000 tonnes @ 1.9 g/t Au to a depth of 60 m below surface (using a 0.8 g/t Au cut-off). The mineralised body was estimated to be 200m long, between 2m and 6m wide, with an average width of 3.9m, and plunged shallow south plunge. At Waihi, CEC reported in 1988 an Inferred Mineral Resource of 70,000 tonnes @ 7.4 g/t Au. It was noted that the mineralisation was narrow and had a potentially high strip ratio. The current estimate returned higher tonnage for both prospects due to the additional exploration data used.
	The assumptions made regarding recovery of by- products.	No assumptions were made regarding recovery of by- products.
	Estimation of deleterious elements or other non- grade variables of economic significance (e.g. sulphur for acid mine _drainage characterisation). _	No other elements were estimated.
	In the case of block model interpolation, the block size in relation to the average sample spacing and the search employed.	The block model used a parent cell size of 10m (east) x 10m (north) x 5m (RL) with sub-celling to 2m (east) x 2m (north) x 1m (RL) to maintain the resolution of all the mineralised bodies. The northing and easting parent cell size was selected based on approximately one-half of the most common drill section spacingat eachprospect. The model

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Criteria	JORC Code explanation	Commentary
		cell dimensions were also selected to provide sufficient resolution to the block model in all directions.
	Any assumptions behind modelling of selective mining units.	No assumptions have been made regarding selective mining units.
	Any assumptions about correlation between variables	No assumptions about correlation between variables were made.
	Description of how the geological interpretation was used to control the resource estimates.	Mineralisation interpretation was based on a nominal cut-off grade of 0.2 g/t Au, after considering current knowledge of the geological setting and completing the statistical analysis of the available analytical data.
	Discussion of basis for using or not using grade cutting or capping.	Top cutting was carried out to reduce outlier grade influence on the local estimation. The outlier grades were identified based on the analysis of the log probability plot, histogram data and coefficient of variation. Values of 30 g/t and 20 g/t Au were selected for the Korong and Waihi prospects, respectively.
	The process of validation, the checking process used, the comparison of model data to drillhole data, and use of reconciliation data if available.	Grade estimation was validated using visual inspection of interpolated block grades vs sample data, statistical analysis and swath plots.
Moisture	Whether the tonnages are estimated on a dry basis or with natural moisture, and the method of determination of the moisture content.	Tonnages are reported on a dry basis, using dry bulk density values. Moisture was not considered in the density assignment and all tonnage estimates are based on dry tonnes.
Cut-off parameters	The basis of the adopted cut-off grade(s) or quality parameters applied.	A cut-off grade of 0.5 g/t Au was used to report the Mineral Resources. The selected cut-off is common for similar deposits in Western Australia amenable to openpit mining.
Mining factors or assumptions	Assumptions made regarding possible mining methods, minimum mining dimensions and internal (or, if applicable, external) mining dilution. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider potential mining methods, but the assumptions made regarding mining methods	The reporting cut-off grade implies mining by open cut methods, which are appropriate given the shallow, outcropping nature of the mineralisation.

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Criteria	JORC Code explanation	Commentary
	and parameters when estimating Mineral Resources may not always be rigorous. Where this is the case, this should be reported with an explanation of the basis of the mining assumptions made.
Metallurgical factors or assumptions	The basis for assumptions or predictions regarding metallurgical amenability. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider potential metallurgical methods, but the assumptions regarding metallurgical treatment processes and parameters made when reporting Mineral Resources may not always be rigorous. Where this is the case, this should be reported with an explanation of the basis of the metallurgical assumptions made.	CEC carried out metallurgical testwork on the low-grade oxide portions of the Korong mineralisation. In 1987 the testwork initially involved rock samples followed by drill samples. Overall, this limited metallurgical testwork was positive and indicated reasonable (at least 75% recovery) in column leach tests. Carbon-in-pulp (CIP)/carbon-in-leach (CIL) testwork also gave good recoveries, with 87–98% recovery in eight hours. No metallurgical modifying factors have been applied to the resource estimate.
Environmental factors or assumptions	Assumptions made regarding possible waste and process residue disposal options. It is always necessary as part of the process of determining reasonable prospects for eventual economic extraction to consider the potential environmental impacts of the mining and processing operation. While at this stage the determination of potential environmental impacts, particularly for a greenfields project, may not always be well advanced, the status of	It is assumed that no environmental factors exist that could prohibit any potential mining development at the Waihi and Korong prospects.

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Criteria	JORC Code explanation	Commentary
	early consideration of these potential environmental impacts should be reported. Where these aspects have not been considered, this should be reported with an explanation of the environmental assumptions made.
Bulk density	Whether assumed or determined. If assumed, the basis for the assumptions. If determined, the method used, whether wet or dry, the frequency of the measurements, the nature, size and representativeness of the samples.	The database for the bulk density data included 71 measured density values. All of them were imported to Micromine and coded using outlines for prospects. It was found that all occur within the Korong prospect, and that 61 were logged as within the fresh zone, and 10 within the oxide zone. Dry bulk density was measured.
	The bulk density for bulk material must have been measured by methods that adequately account for void spaces (vugs, porosity, etc.), moisture and differences between rock and alteration zones within the deposit.	Bulk density was measured using the common industry standard water immersion method with the “drymass” and “watermass” records in the database.
	Discuss assumptions for bulk density estimates used in the evaluation process of the different materials.	The average bulk density value for 61 samples in the fresh zone was 2.89 t/m3, and the average value for 10 samples in the oxide zone was 2.47 t/m3. These values were directly assigned to the corresponding cells in the block models and employed in the MRE.
Classification	The basis for the classification of the Mineral Resources into varying confidence categories.	CSA Global has considered several factors to classify Mineral Resources, such as search ellipse dimensions, geological data, and density of exploration grid. The Mineral Resource has been classified based on the guidelines specified in the JORC Code. At this stage of exploration, based on the observed geological and grade continuity and considering the exploration grid density, CSA Global decided that both prospects should be classified as Inferred for the main mineralised bodies which are based on at least two intersections along the exploration lines and to the maximum depth with mineralised intersections. All other minor bodies and their projections at the depth were left unclassified.

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Criteria	JORC Code explanation	Commentary
	Whether appropriate account has been taken of all relevant factors (i.e. relative confidence in tonnage/grade estimations, reliability of input data, confidence in continuity of geology and metal values, quality, quantity and _distribution of the data). _	Data quality, grade continuity and drill spacing were assessed by CSA Global to form an opinion regarding resource confidence.
	Whether the result appropriately reflects the Competent Person’s view of the deposit.	The classification reflects the Competent Person’s view of the deposit.
Audits or reviews	The results of any audits or reviews of MREs.	The Mineral Resource block model was peer reviewed internally by Serikjan Urbisinov, who is employed by CSA Global as a Principal Resource Geologist. He concluded that the procedures used to estimate and classify the Mineral Resource were appropriate.
Discussion of relative accuracy/ confidence	Where appropriate, a statement of the relative accuracy and confidence level in the Mineral Resource estimate using an approach or procedure deemed appropriate by the Competent Person. For example, the application of statistical or geostatistical procedures to quantify the relative accuracy of the resource within stated confidence limits, or, if such an approach is not deemed appropriate, a qualitative discussion of the factors that could affect the relative accuracy and confidence of the estimate.	Industry standard modelling techniques were used, including but not limited to: • Classical statistical analysis, cut-off selection and domaining • Interpretation and wireframing • Top cutting and interval compositing • Geostatistical analysis for all main modelled elements • Block modelling and grade interpolation techniques • Model classification, validation, and reporting. The relative accuracy of the estimate is reflected in the classification of the deposit.
	The statement should specify whether it relates to global or local estimates, and, if local, state the relevant tonnages, which should be relevant to technical and economic evaluation. Documentation should include assumptions	The estimate is related to the global estimate of the deposit and is suitable for use in a subsequent prefeasibility study and further development of the deposit.

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Criteria	JORC Code explanation	Commentary
	made and the procedures used.
	These statements of relative accuracy and confidence of the estimate should be compared with production data, where available.	There is no production data available to compare the MRE against.

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ASX CODE: Si6

This announcement has been approved for release by the Executive Chairman of Si6 Metals Ltd, Mr Patrick Holywell.

For further information please contact:

Patrick Holywell Executive Chairman M: +61 (0)401 407 357 ph@si6metals.com

Victoria Humphries Investor Relations M: +61 (0)431 151 676 victoria@nwrcommunications.com.au

DIRECTORS

Patrick Holywell Executive Chairman

Steve Groves Technical Director

Joshua Letcher Non-Executive Director

Mauro Piccini Company Secretary

CONTACT

Suite 2, Level 1 1 Altona Street West Perth WA Australia 6005 +61 (0)8 6559 1792

info@si6metals.com si6metals.com

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