VERITY RESOURCES LIMITED — Capital/Financing Update 2022

Sep 28, 2022

ASX Code: Si6

29 September 2022

AIRCORE DRILLING INTERSECTS WIDE ZONES OF GOLD MINERALISATION AT NORTH WELL, MONUMENT GOLD PROJECT, WESTERN AUSTRALIA

Highlights

• Encouraging results received in final assays from Phase Two aircore drilling program at Monument Gold Project located within the Laverton Tectonic Zone, Western Australia

• Phase Two was completed in Q2 CY2022 and consisted of ~6,000m of drilling from 130 holes with 5 prospect areas comprising two felsic intrusions and three structural targets tested

• Final assays returned promising results at North Well Prospect, Celia and Aermotor and confirmed these prospects require follow up testing

• North Well drilling focused on significant mineralisation encountered in historic drilling in 2010, successfully confirming the northwest trend and association with the regionally significant Celia Tectonic Lineament

• Mineralisation observed within the North Well mineralised corridor extends over 1.2km and remains open in both directions

• The multi-element signature observed at North Well coincides with elevated bismuth, silver, arsenic, copper and tungsten pathfinder elements indicative of intrusion related gold mineralisation

• Phase Three drilling program will comprise infill and strike extension aircore drilling and is expected to commence in October.

Si6 Metals Limited ( ASX: Si6 or the Company ) is pleased to announce that it has received the final assay results from the Phase Two aircore (AC) drilling program completed in Q2 CY2022 at the Monument Gold Project (MGP), Western Australia (Figure 1). Drilling was undertaken on tenure directly adjacent to and along strike of Dacian Gold Ltd’s (ASX:DCN) ~2Moz Au Mt Morgans Project. DCN recently received a takeover offer from Genesis Minerals Ltd (ASX:GMD) which is seeking to consolidate Western Australia’s northern Goldfields. Si6 intends to commence Phase Three AC drilling at MGP next month.

Si6’s 100%-owned MGP currently contains a 3.3Mt @ 1.4g/t Au for 154koz gold resource along the banded iron formations (BIF). Drilling for Si6’s current 154koz gold resource was completed in 2021 with the resource calculated by CSA Global and announced mid-2021 (see ASX release on 2 August 2021). MGP contains multiple target styles of gold mineralisation including BIFs and basalt-hosted, however, significant potential for large-tonnage deposits exists in the intrusion hosted targets.

Si6 is currently focused on prospects where geochemical analysis provides indications of the existence of fractionated, felsic intrusives belonging to the sanukitoid suite of evolved intrusive rocks. Such prospects are significant when taking into consideration the similarities with other gold-bearing sanukitoid intrusions such as Hemi (~11Moz) or Tropicana (~5Moz), as well as other nearby bulk tonnage, multi-million-ounce projects such as the Wallaby (~7Moz) and Jupiter (~1.5Moz) projects.

Si6’s Exploration Manager, Michael Jackson stated, “We are pleased to receive the final assay results from our Phase Two drilling program at MGP which have continued to deliver promise for the Company, in this instance particularly at the North Well prospect. North Well is emerging as a key target for Si6 with these results confirming the potential that was highlighted during historical drilling in this area. These results provide us with added confidence as we now look ahead to commencing the Phase Three aircore drilling program at MGP in October.”

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Program Summary

The current drilling program consisted of ~6,000m of drilling from 130 holes with 5 prospect areas tested. This included 35 holes drilled at Korong (1,326m), 14 holes at Aermotor (684m), 20 holes at Celia (1,480m), 39 holes at North Well (2,068m) and 21 holes at Triton (472m). Drilling was undertaken on 40m and 80m centres with line spacings ranging from 200m up to 400m along the length of the interpreted mineralised trends. Sampling consisted of taking 4m composites from the individual sample piles with a single 1m sample taken at the end of hole for whole rock analysis in order to undertake rock type characterisation.

The drilling intersected a wide range of prospective lithologies including granite, porphyry, gabbro, dolerite, ultramafic, sediment and felsic volcanic. Some of the hole depths exceeded 100m which is indicative of significant regional structures fundamental to the development of mineralised gold systems (Figure 2).

Drilling on the western side of the Celia Tectonic Lineament intersected ultramafic lithologies from the Murrin Murrin domain, which are highly prospective for Ni-Co laterite. Felsic volcanics intersected at the North Well and Aermotor target areas also indicate the prospectivity for volcanic-hosted massive sulphide (VHMS) Zn-Pb-Cu-Au-Ag mineralisation.

The broad spaced drilling returned numerous mineralised intercepts >0.1g/t Au from the North Well, Celia and Aermotor Prospects over an 8km strike along the Celia Tectonic Lineament and confirms that the poorly tested Celia Tectonic Lineament, which is almost entirely under transported cover, has potential to host significant gold mineralization. Nine kilometres of strike of this structure extends from North Well to the southern tenement boundary and remains largely untested.

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Figure 1: Location of Monument Gold project within Laverton tectonic zone, Western Australia.

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Figure 2 : Interpreted geology of the Monument Gold Project and location of Si6 drill collars.

Program Details

Aircore drilling was undertaken at the North Well prospect following up on significant mineralisation encountered in historic drilling in 2010 including 4m @ 1.26g/t Au from 40m (RAB hole KOA052), 6m @ 1.25g/t Au from 52m (AC hole KOA092) and 4m @ 1.70g/t Au from 76m (AC hole KOA093) associated with a northwest trending magnetic structural feature highlighted in the geophysics (Figures 3 and 4).

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The drilling here was designed to test the interpretation that the principal control on mineralization is a cross-cutting northeast structure evident in geophysics. Recent drilling was undertaken on three northwest-southeast orientated lines spaced 200m apart and has confirmed that the North Well mineralisation is actually northwest trending and associated with the regionally significant Celia Tectonic Lineament. The recent AC drilling by Si6 returned a number of broad intercepts >0.2g/t Au over the 1,200m strike length tested. These included 8m @ 0.98g/t Au from 56m (MOAC219, including 4m @ 1.84g/t Au ), 9m @ 0.32g/t Au from 52m and ending in mineralisation (MOAC214) and 8m @ 0.24g/t Au from 20m (MOAC190). Mineralisation remains open along strike to the northwest and southeast.

Along strike and to the northwest of the extent of AC drilling, a number of historic workings previously sampled by Si6 returned significant results (>0.1g/t Au) from grab sampling including values up to 22.3g/t Au . The grab samples occur along the broader, northwest trending mineralised corridor and also have elevated bismuth, silver, arsenic, copper and tungsten which is an indicator of intrusion related gold mineralisation.

The area southeast of the North Well Prospect is covered by extensive transported overburden with less than 10% of the strike area covered by historic surface sampling and drilling with the greater portion corridor remaining to be explored.

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Figure 3 : North Well mineralised corridor along a magnetic liner feature open to the northwest and southeast showing significant intercepts (>0.1g/t Au cut-off).

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Figure 4: Section along the southern-most line of North Well aircore drilling looking northeast.

Aircore drilling at Aermotor targeted the contact between a sedimentary and mafic volcanic sequence adjacent to the Celia Tectonic Lineament observed in geophysics where previous drilling by Si6 intersected 4m @ 0.44g/t Au from 36m (MOAC064) (Figure 2).

Along strike and 220m to the southeast of MOAC064, drilling intersected 4m @ 0.12g/t Au from 36m (MOAC234) at the contact between a mafic and felsic volcanic with mineralisation remaining open to the southeast. Anomalous copper mineralisation (>90ppm Cu) associated with this intercept also confirms an association with a felsic intrusive whereby Aermotor was identified as a priority target in the Round 23, Exploration Incentive Scheme drilling undertaken in October 2021.

Aircore drilling was undertaken at the Celia Prospect targeting a series of north-south structures crosscutting a major regional fault along the western edge of the Celia Tectonic Lineament. The fault structure is regionally significant as it separates the Murrin Murrin Domain and the main greenstone belt which traverses the Project. Aircore drilling intersected anomalous bedrock mineralisation in hole MOAC246 with 4m @ 0.29g/t Au from 44m returned consisting of quartz stockwork veins hosted within ultramafic lithology (Figure 2).

The highly encouraging results returned from the North Well and Aermotor prospects and their multielement signature indicative of fertile intrusive source rocks demonstrates significant potential remains across the MGP area for bulk-tonnage intrusion-hosted and high-grade, vein-hosted gold mineralisation.

Next Steps

Infill and strike extension AC drilling at North Well and along the strike of the 8km magnetic feature is planned for Phase Three AC drilling expected to commence in October 2022. Targets identified from ongoing target generation through reconnaissance soil sampling and analysis of the geochemistry database combined with geophysics data will also be drill tested as part of upcoming and future

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programs. These include the 1,000m long Perseverance IP anomaly 2km along strike of Waihi (0.2Mt @ 2.1g/t for 15koz Au resource), Fred’s Well where grab and rock chip sampling over 700m strike has returned a number of samples >1g/t Au, up to 39.3g/t Au. In addition, the Company intends to systematically test a number of nickel targets across the project area including strike extensions to Glencore’s Murrin Murrin Ni-Co Project which extend into the MGP.

1m re-splits of composite drill intercepts >0.2g/t from Phase Two AC drilling have been collected and submitted to ALS Kalgoorlie for Fire Assay gold analysis to validate the mineralised intercepts and identify individual samples containing the best gold mineralisation. On receipt of the re-split assays, further field work will be undertaken to identify the nature and style of the gold mineralisation which will help navigate future drill programs.

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Appendix 1 – Significant intercepts >0.1g/t Au

Hole ID	Depth From	Depth To	Downhole interval	Intercept and comments
MOAC185 MOAC190 MOAC190 MOAC211 MOAC212 MOAC213 MOAC214 MOAC215 MOAC215 MOAC216 MOAC217 MOAC219 MOAC221 MOAC234 MOAC245 MOAC246	41 20 29 0 0 4 52 60 68 72 28 56 56 36 64 44	42 28 30 8 8 12 61 64 74 80 32 64 60 40 66 48	1 8 1 8 8 8 9 4 6 8 4 8 4 4 2 4	1m @ 0.16g/t Au 8m @ 0.24g/t Au 1m @ 0.14g/t Au (ended in mineralisation) 8m @ 0.20g/t Au (transported) 8m @ 0.40g/t Au (transported) 8m @ 0.29g/t Au (transported) 9m @ 0.32g/t Au (ended in mineralisation) 4m @ 0.11g/t Au 6m @ 0.24g/t Au 8m @ 0.16g/t Au 4m @ 0.23g/t Au 8m @ 0.98g/t Au (incl. 4m @ 1.84g/t Au) 4m @ 0.50g/t Au 4m @ 0.12g/t Au 2m @ 0.13g/t Au (ended in mineralisation) 4m@0.29g/t Au

Appendix 2 – Aircore drill collar information (MGA94_51s)

Hole ID	Drill hole **type **	East	North	RL	Dip	Azimuth	End Depth (m)
MOAC127 MOAC128 MOAC129 MOAC130 MOAC131 MOAC132 MOAC133 MOAC134 MOAC135 MOAC136 MOAC137 MOAC138 MOAC139 MOAC140 MOAC141 MOAC142 MOAC143 MOAC144 MOAC145 MOAC146 MOAC147 MOAC148 MOAC149	AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC	399737 399818 399898 399976 400061 400137 400219 400294 400381 400460 400537 400617 400699 399781 399857 399936 400021 400101 400181 400262 400339 400418 400498	6831002 6831001 6831001 6831000 6831000 6831000 6831002 6831000 6831002 6830998 6831000 6831000 6831003 6830603 6830602 6830601 6830600 6830606 6830605 6830601 6830601 6830600 6830603	458 457 457 456 455 455 454 454 453 452 451 451 450 457 456 455 455 454 453 452 452 451 451	-60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60	270 274 265 268 271 276 269 270 270 269 270 271 272 267 277 267 268 266 272 268 269 269 275	15 8 9 24 17 41 58 15 71 59 60 62 64 4 10 18 29 41 60 57 59 44 64

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MOAC150 MOAC151 MOAC152 MOAC153 MOAC154 MOAC155 MOAC156 MOAC157 MOAC158 MOAC159 MOAC160 MOAC161 MOAC162 MOAC163 MOAC164 MOAC165 MOAC166 MOAC167 MOAC168 MOAC169 MOAC170 MOAC171 MOAC172 MOAC173 MOAC174 MOAC175 MOAC176 MOAC177 MOAC178 MOAC179 MOAC180 MOAC181 MOAC182 MOAC183 MOAC184 MOAC185 MOAC186 MOAC187 MOAC188 MOAC189 MOAC190 MOAC191 MOAC192 MOAC193 MOAC194 MOAC195 MOAC196 MOAC197	AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC	400574 400656 400737 399679 399755 399836 399922 399999 400081 400160 400240 400321 395099 395138 395176 395216 395256 395296 395337 395377 395419 395003 395040 395079 395122 395160 395201 395238 395283 395317 395358 395397 395436 396780 396851 396920 396992 397068 396866 396939 397011 397080 397151 397224 397296 397667 397697 397731	6830598 6830596 6830599 6830200 6830200 6830199 6830200 6830201 6830200 6830199 6830198 6830203 6835378 6835376 6835376 6835377 6835379 6835379 6835379 6835381 6835379 6834979 6834980 6834983 6834982 6834982 6834981 6834980 6834980 6834980 6834980 6834980 6834980 6826732 6826757 6826782 6826810 6826837 6826537 6826562 6826587 6826614 6826639 6826666 6826690 6826372 6826351 6826332	450 449 449 457 456 455 454 453 453 453 453 452 480 480 480 479 479 479 479 479 479 484 484 484 484 484 483 483 483 482 482 482 482 467 467 467 468 468 467 468 468 468 469 469 469 468 469 469	-60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60	269 272 271 266 272 270 270 271 270 269 270 270 271 268 271 269 268 269 269 270 263 270 268 269 271 266 271 270 268 270 266 269 270 255 245 249 249 247 246 250 249 249 249 247 249 300 300 301	40 35 33 1 1 9 35 54 56 60 61 52 19 32 39 36 32 17 15 30 19 32 27 18 12 15 10 23 5 22 23 21 25 36 32 42 33 3 45 70 30 23 3 6 42 56 57 47

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MOAC198 MOAC199 MOAC200 MOAC201 MOAC202 MOAC203 MOAC204 MOAC205 MOAC206 MOAC207 MOAC208 MOAC209 MOAC210 MOAC211 MOAC212 MOAC213 MOAC214 MOAC215 MOAC216 MOAC217 MOAC218 MOAC219 MOAC220 MOAC221 MOAC222 MOAC223 MOAC224 MOAC225 MOAC226 MOAC227 MOAC228 MOAC229 MOAC230 MOAC231 MOAC232 MOAC233 MOAC234 MOAC235 MOAC236 MOAC237 MOAC238 MOAC239 MOAC240 MOAC241 MOAC242 MOAC243 MOAC244 MOAC245	AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC AC	397768 397805 397836 397870 397530 397562 397598 397631 397664 397696 397733 397768 397337 397369 397401 397435 397473 397505 397534 397573 397604 397639 397674 397707 400720 400797 400841 400915 400959 400581 400658 400741 400824 400896 400813 400901 400979 401062 397998 398078 398158 398237 398321 398396 398477 398559 397798 397880	6826309 6826294 6826272 6826250 6826215 6826198 6826181 6826161 6826140 6826117 6826100 6826078 6826101 6826082 6826060 6826036 6826021 6825995 6825979 6825960 6825938 6825917 6825900 6825878 6820205 6820206 6820203 6820203 6820199 6820401 6820398 6820400 6820401 6820399 6820004 6820000 6820002 6820003 6821800 6821799 6821800 6821800 6821799 6821798 6821800 6821799 6822147 6822150	469 469 469 470 467 468 468 468 468 468 468 468 467 467 467 466 466 466 466 467 467 467 467 468 443 443 443 444 444 442 442 443 443 443 443 444 445 446 451 451 451 451 451 451 450 450 452 452	-60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60 -60	297 300 295 301 298 298 302 301 302 301 298 300 299 300 307 300 300 300 301 301 301 299 300 300 270 271 271 270 271 269 270 265 266 273 277 269 264 273 272 268 272 266 286 268 263 269 275 274	43 48 53 45 68 75 84 72 84 76 45 62 43 53 65 55 61 75 86 68 66 72 75 69 11 21 45 78 91 30 41 60 78 67 15 24 54 69 66 59 51 48 40 53 44 81 81 66

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AC AC AC AC AC AC AC AC AC AC	397959 398038 398117 398196 397823 397904 397979 398061 397461 397541	6822151 6822151 6822150 6822150 6822349 6822352 6822350 6822355 6822498 6822499	452 452 452 452 452 452 452 452 454 454	-60 -60 -60 -60 -60 -60 -60 -60 -60 -60	268 273 264 266 294 274 268 269 276 275	73 82 99 114 75 45 92 122 111 78

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Appendix A – JORC CODE, 2012 Edition

Section 1 – Sampling Techniques and Data

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary
Sampling	•	Nature & quality of sampling (e.g.
techniques		cut channels, random chips, or	•	Aircore drilling was undertaken by Prospect Drilling
		specific specialised industry		Pty Ltd based out of Kalgoorlie, Western Australia.
		standard measurement tools	•	Drill samples consist of 2-3kg of material representing
		appropriate to the minerals under		in-situ rock collected at 1m intervals from surface.
		investigation, such as down hole	•	Drilled 1m samples are discharged into collection
		gamma sondes, or handheld XRF		buckets positioned below the cyclone and placed on
		instruments, etc.). These examples		the ground in rows of 20.
		should not be taken as limiting the	•	Even, single samples were collected from the 1m
		broad meaning of sampling.		piles as 4m composites using a scoop to obtain 2-3kg
	•	Include reference to measures		of material representative of 4m of drilling.
		taken to ensure sample	•	End of hole samples consisted of 1m composites of
		representivity & the appropriate		fresh rock submitted for whole-rock, multi-element
		calibration of any measurement		analysis.
		tools or systems used.	•	Sampling and analytical procedures are detailed in
	•	Aspects of the determination of		the sub-sampling techniques and sample preparation
		mineralisation that are Material to		section.
		the Public Report.	•	Rock chip sampling consisted of breaking
	•	In cases where ‘industry standard’		outcropping, in-situ surface rocks with a Geopick and
		work has been done this would be		collecting approximately 2kg of material into a pre-
		relatively simple (e.g. ‘reverse		numbered calico bag.
		circulation drilling was used to	•	Grab sampling consisted of collecting approximately
		obtain 1 m samples from which 3		2kg of random quartz fragments from mine dumps
		kg was pulverised to produce a 30		into a pre-numbered calico bag.
		g charge for fire assay’). In other	•	Information recorded from individual sample sites
		cases more explanation may be		includes sample ID, east and north coordinates, date
		required, such as where there is		sampled, structure orientation if applicable and
		coarse gold that has inherent		description of sample (ie. rock type, whether grab or
		sampling problems. Unusual		rock chip sample).
		commodities or mineralisation	•	Historical rotary air blast and air core drilling was
		types (e.g. submarine nodules) may warrant disclosure of detailed		undertaken by Kennedy Drilling of Kalgoorlie for Jindalee Resources in 2010 with individual metre
		information.		samples laid out on the ground.
			•	Four metre composite samples from the historical
				rotary air blast and air core drilling were submitted to
				Quantum Analytical Laboratories in Perth and
				analysed for low level (ppb) gold only using an aqua
				regia digest technique.
Drilling	•	Drill type (eg core, reverse
techniques		circulation, open-hole hammer,	•	Face sampling aircore drilling by Prospect Drilling
		rotary air blast, auger, Bangka,		achieved hole diameter size of 3 1/4 inch.
		sonic, etc.) & details (e.g. core	•	Drilling was completed via air core blade or
		diameter, triple or standard tube,		percussion hammer to penetrate hard rock when
		depth of diamond tails, face-		encountered in the upper part of the weathering
		sampling bit or other type,		profile.
		whether core is oriented & if so, by	•	Historical drilling for Jindalee Resources in 2010 was
		what method, etc.).If no site visits		completed via rotary air blast and air core blade and
		have been undertaken indicate		all holes were drilled to blade refusal.
		why this is the case.

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• Rotary air blast drilling is an open hole sampling method which is subject to smearing and contamination.

			•	Rotary air blast drilling is an open hole sampling method which is subject to smearing and contamination.
Drill sample	•	Method of recording & assessing
recovery		core & chip sample recoveries &	•	Sample recovery size and sample conditions (dry, wet,
		results assessed.		moist) were recorded in the field sample data booklet
	•	Measures taken to maximise		by visually assessing the sample piles.
		sample recovery & ensure	•	Drilling involved frequent reaming to clean the hole at
		representative nature of the		the start of each new rod, regular cleaning of the
		samples.		cyclone and use of high-pressure air to avoid wet
	•	Whether a relationship exists		sample
		between sample recovery & grade	•	Sample condition was recorded for historic drilling
		& whether sample bias may have		(dry, wet, moist).
		occurred due to preferential
		loss/gain of fine/coarse material
Logging	•	Whether core & chip samples have
		been geologically & geotechnically	•	Logging was undertaken by inspecting washed cuttings
		logged to a level of detail to		from the drill piles using a 2mm hand-held sieve.
		support appropriate Mineral	•	Logging was undertaken by a suitably qualified
		Resource estimation, mining		Geologist using pre-determined logging codes to
		studies & metallurgical studies.		record depth, colour, regolith, rock type, alteration
	•	Whether logging is qualitative or		and potential mineralisation such as sulphides and
		quantitative in nature. Core (or		quartz-veining.
		costean, channel, etc.)	•	The logging technique was developed to accurately
		photography.		reflect geology and mineralisation styles.
	•	The total length & percentage of	•	End of hole, fresh rock samples were collected in
		the relevant intersections logged		plastic chip trays for future reference.
			•	All historic rotary air blast and air core drilling was
				geologically logged, recording regolith, lithology and
				any significant alteration and structure, including
				veininginformation.
Sub-sampling	•	If core, whether cut or sawn &
techniques &		whether quarter, half or all core	•	4m Composite samples comprising 4 even scoops of
sample		taken.		1m aircore samples were collected in pre-numbered
preparation	•	If non-core, whether riffled, tube		calico bags. Sample weights were 2.5 - 3 kg.
		sampled, rotary split, etc.&	•	4m composite samples were collected into numbered
		whether sampled wet or dry.		polyweave bags and dispatched to ALS Laboratories,
	•	For all sample types, the nature,		Kalgoorlie which is an accredited laboratory.
		quality & appropriateness of the	•	All Rock Chip and Grab samples were collected in
		sample preparation technique.		numbered calico bags, these were placed into
	•	Quality control procedures		numbered polyweave bags and submitted to ALS
		adopted for all sub-sampling		Kalgoorlie.
		stages to maximise representivity	•	Samples were dried (nominal 110 degrees C), crushed
		of samples.		and pulverized to produce a homogenous
	•	Measures taken to ensure that the		representative sub-sample for analysis. All samples
		sampling is representative of the in		were pulverised utilising ALS preparation technique
		situ material collected, including		PUL-23. A grind quality target of 85% passing 75μm
		for instance results for field		has been established and is relative to sample size,
		duplicate/second-half sampling.		type and hardness.
	•	Whether sample sizes are	•	End of hole one metre samples were taken to for
		appropriate to the grain size of the		multi-element, whole rock analysis to characterise
		material being sampled.		rock type.
			•	The sample size and sample preparation prior to
				analysis are considered to be appropriate for the
				expected mineralisation.

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			•	Assay samples from historic drilling were submitted
				to Quantum Analytical Laboratories in Perth and
				analysed for low level (ppb) gold only using an aqua
				regia digest technique.
Quality of	•	The nature, quality &	•	The bagged 4m composite, Rock Chip and Grab
assay data &		appropriateness of the assaying &		samples were collected at ALS, Kalgoorlie and
laboratory		laboratory procedures used &		shipped to the ALS facility in Perth by courier.
tests		whether the technique is	•	Following the Sample Preparation outlined in the
	•	considered partial or total. For geophysical tools, spectrometers, handheld XRF instruments, etc., the parameters used in determining the analysis including instrument make &		previous section above, all samples were analysed by ALS using a combined package of trace level gold, 25g aqua regia [Au-TL43] and ICP [ME-ICP43] and MS [ME-MS43] multi-elements for 40 elements by ALS laboratories in Perth.
		model, reading times, calibrations	•	1m Bottom of hole samples were collected and
		factors applied & their derivation,		analysed using whole rock, 4 acid digest ME-MS61
		etc.		and Au ICP-21 by ALS laboratories.
	•	Nature of quality control	•	Gold intercepts were calculated with a 0.10g/t Au
		procedures adopted (e.g.		lower cut-off with no upper cut-off applied.
		standards, blanks, duplicates,	•	In addition to the Quality Control measures and
		external laboratory checks) &		internal laboratory checks used by ALS, Si6 inserted
		whether acceptable levels of accuracy (i.e. lack of bias) & precision have been established.		standards, duplicates and blanks at a rate of 1:20 samples in that order respectively. Standards were selected based on oxidation and grade relevant to the
				expected mineralisation. This process of QA/QC
				demonstrated acceptable levels of accuracy.
			•	For Rock Chip and Grab sampling Quality Control (QC)
				procedures involved the use of field sample
				duplicates and certified reference materials which
				were inserted into the sample stream at a rate of
				1:50. These were later checked and verified and
				found to be within an acceptable margin of error.
			•	Rock chip and grab samples were analysed for gold
				using 30 gram Fire assay with an AAS finish. This
				technique is considered suitable for determination of
				gold for this project. Fire assays are classified as total
				assays.
			•	A review of the assay data against the logged
				information by the field technician and geologist has
				been completed to verify intercepts are real.
			•	Sample, collar and lithology data was captured
				directly in the field using excel tables on a laptop
				computer. Captured data was then loaded into the
				Company’s database and validation checks
				completed to ensure data accuracy.
			•	No detailsprovided on QAQC from historic drilling.
Verification of	•	The verification of significant	•	A review of the assay data against the logged
sampling &		intersections by either independent		information by the field technician and geologist was
assaying		or alternative company personnel.		completed to verify intercepts.
	•	The use of twinned holes.	•	Assay results were plotted on section to verify against
	•	Documentation of primary data,		neighbouring holes.
		data entry procedures, data
		verification, data storage (physical

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		& electronic) protocols.	•	Sample data was captured in the field with date, hole
	•	Discuss any adjustment to assay		ID, m from, m to, sample ID, check sample type and
		data.		ID recorded in a hard copy sample book. The sample
				book is kept as a back-up.
			•	Sample data has been entered into the Company’s
				database with validation checks completed to ensure
				data accuracy.
			•	Sample data points were plotted in GIS software and
				checked to spatially validate the coordinates entered
				into the database are correct.
			•	No twinned holes have been completed at this stage
			•	No adjustments have been made to the assay data.
Location of	•	Accuracy & quality of surveys used	•	Drill holes were recorded by Garmin handheld GPS
data points		to locate drill holes (collar & down-		with horizontal accuracy (Easting and Northing
		hole surveys), trenches, mine		values) of +-3m.
		workings & other locations used in	•	Grid System – MGA94 Zone 51.
		Mineral Resource estimation.
	•	Specification of the grid system
		used.
	•	Quality & adequacy of topographic
		control
Data spacing	•	Data spacing for reporting of	•	Close spaced holes (40m) with broad line spacing
& distribution		Exploration Results.		(200m) were drilled to target potentially mineralised
	•	Whether the data spacing &		structures identified from previous drilling and field
		distribution is sufficient to		work and were located accurately by Handheld GPS
		establish the degree of geological	•	No mineral classification is applied to the results at
		& grade continuity appropriate for		this stage
		the Mineral Resource & Ore	•	Samples were collected on 4m, 2m and 1m intervals
		Reserve estimation		from spoil piles
		procedure(s)&classifications
		applied.
	•	Whether sample compositing has
		been applied.
Orientation of	•	Whether the orientation of	•	No bias has been introduced from the sampling
data in		sampling achieves unbiased		technique.
relation to		sampling of possible structures &	•	The drilling at North Well was designed to ascertain
geological		the extent to which this is known,		the orientation of the mineralised structure from
structure		considering the deposit type.		several differing interpretations, the drill lines are
	•	If the relationship between the		oriented obliquely to the trend of the mineralisation.
		drilling orientation & the	•	Rock Chips and Grab samples were taken from
		orientation of key mineralised		existing workings and prospector pits. The samples
		structures is considered to have		are considered representative of the feature targeted
		introduced a sampling bias, this		by historic miners, comprising selection of random
		should be assessed & reported if		materials from the site.
		material
Sample	•	The measures taken to ensure	•	Samples were securely stored in the field and
security		sample security the different		transported to the laboratory by an authorised
		materials.		company representative or an authorised transport
				contractor.
Audits or	•	The results of any audits or reviews
reviews		of sampling techniques & data.	•	No audits or reviews have been completed.

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ASX Announcement

Section 2 Reporting of Exploration Results

Criteria	JORC	Code explanation	Commentary	Commentary
Mineral	•	Type, reference	•	AC Drilling and sampling reported has been undertaken
tenement		name/number, location and		on tenements E39/1846 and E39/1866, which are
and land		ownership including		located approximately 40km northwest of Laverton, in
tenure		agreements or material issues		the Eastern Goldfields Region, Western Australia.
status		with third parties such as
		joint ventures, partnerships,	•	The tenements are held by Monument Mining Pty Ltd, a
		overriding royalties, native		wholly owned subsidiary of Si6 Metals Pty Ltd.
		title interests, historical sites,
		wilderness or national park
		and environmental settings.
	•	The security of the tenure
		held at the time of reporting
		along with any known
		impediments to obtaining a
		license to operate in the area.
Exploration	•	Acknowledgment and	•	The historic drilling collars, down-hole traces and
done by		appraisal of exploration by		intercepts published in the report are contained in the
other		other parties.		historical database compiled by previous tenement
parties				holder, DiscovEx Resources Pty Ltd which is a
				compilation of exploration activities undertaken by
				previous explorers.
			•	Rotary air blast and air core drilling was undertaken by
				Jindalee Resources in 2010 over the North Well
				prospect, which formed the target of this round of
				follow upair core drilling.
Geology	•	Deposit type, geological	•	There are two deposit styles being targeted:
		setting and style of		o Archaean, intrusion related gold deposits. Gold
		mineralisation.		mineralisation principally occurs in sheeted
				quartz stockwork veins derived from open
				space filling (brittle fracturing) of felsic
				intrusive rocks altered by varying quantities of
				silica, pyrite, pyrrhotite, arsenopyrite,
				sphalerite, galena and chalcopyrite.
				o Archaean Lode Gold. Gold mineralisation
				principally occurs in quartz veins derived from
				open space filling (brittle fracturing) and to a
				lesser degree within altered wall rocks
				accompanied by varying quantities of pyrite,
				pyrrhotite, arsenopyrite, sphalerite, galena and
				chalcopyrite. The lode gold deposits within the
				Monument Gold Project are hosted within
				banded iron formation and siliceous sediments
				(cherts) which have been fractured by
				shearing,cross-faultingand folding.

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ASX Announcement

Drill hole	•	A summary of all information	•	Historic drill hole positions have been validated by
Information		material to the understanding		ground checking the location of the drill collars
		of the exploration results		recorded by Syndicated Metals (DiscovEx). No check
		including a tabulation of the		sampling has been undertaken on the historic drill spoils
		following information for all		and the information is not considered material.
		Material drill holes:	•	Drill hole location, depth and directional information
	•	easting and northing of the		collected by Si6 is included in the report.
		drill hole collar
	•	elevation or RL (Reduced
		Level – elevation above sea
		level in metres) of the drill
		hole collar
	•	dip and azimuth of the hole
	•	down hole length and
		interception depth
	•	hole length.
	•	If the exclusion of this
		information is justified on the
		basis that the information is
		not Material and this
		exclusion does not detract
		from the understanding of the
		report, the Competent Person
		should clearly explain why
		this is the case.
Data	•	In reporting Exploration	•	Drill hole intercepts are reported using a 0.1g/t Au cut-
aggregation		Results, weighting averaging		off grade.
methods		techniques, maximum and/or	•	Anomalous rock chip samples are reported using a
		minimum grade truncations		lower cut-off 1g/t Au.
		(e.g. cutting of high grades)	•	Intercepts are reported as down-hole lengths using
		and cut-off grades are usually		length weighted averages.
		Material and should be	•	No top-cut has been applied to the reported intercepts.
		stated.
	•	Where aggregate intercepts
		incorporate short lengths of
		high grade results and longer
		lengths of low grade results,
		the procedure used for such
		aggregation should be stated
		and some typical examples of
		such aggregations should be
		shown in detail.
	•	The assumptions used for any
		reporting of metal equivalent
		values should be clearly
		stated.

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ASX Announcement

Relationship	•	These relationships are	•	Refer “Orientation of data in relation to geological
between		particularly important in the		structure” in Section 1.
mineralisa-		reporting of Exploration	•	Drilling was designed perpendicular to the targeted
tion widths		Results.		structures to maximise the potential to intersect
and	•	If the geometry of the		mineralisation, the drilling at North Well was designed
intercept		mineralisation with respect to		to test multiple interpretations and so is orientated
lengths		the drill hole angle is known,		obliquely to the mineralized structure.
		its nature should be reported.	•	Geometry of mineralisation with relation to the drill
	•	If it is not known and only the		angle is not known at this stage.
		down hole lengths are	•	All intersections are reported as downhole lengths and
		reported, there should be a		true width of mineralisation is not known at this stage.
		clear statement to this effect
		(e.g. ‘down hole length, true
		width not known’).
Diagrams	•	Appropriate maps and	•	A location plan of each of the prospects showing the
		sections (with scales) and		drill collars is provided in the report.
		tabulations of intercepts
		should be included for any
		significant discovery being
		reported These should
		include, but not be limited to
		a plan view of drill hole collar
		locations and appropriate
		sectional views.
Balanced	•	Where comprehensive	•	The report is considered balanced with the information
reporting		reporting of all Exploration		provided.
		Results is not practicable,	•	The report shows drill collars for all holes completed.
		representative reporting of
		both low and high grades
		and/or widths should be
		practiced to avoid misleading
		reporting of Exploration
		Results.
Other	•	Other exploration data, if	•	No testwork has been undertaken in relation to
substantive		meaningful and material,		metallurgical and geotechnical studies.
exploration		should be reported including
data		(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.

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ASX Announcement

Further	•	The nature and scale of	•	Re-splits of the four metre composite samples above
work		planned further work (e.g.		0.2g/t have been taken and submitted to ALS
		tests for lateral extensions or		laboratories Kalgoorlie.
		depth extensions or large-	•	A third round of AC drilling following up on previously
		scale step-out drilling).		intersected anomalous mineralisation is planned. The
	•	Diagrams clearly highlighting		program will also include high-ranking structural targets
		the areas of possible		and intrusive targets that remain to be tested.
		extensions, including the
		main geological
		interpretations and future
		drilling areas, provided this
		information is not
		commercially sensitive.

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ASX Announcement

Monument Gold Project, Western Australia, Resource Information

A JORC-compliant (2012) Inferred Resource was calculated at Korong and Waihi by CSA Global Pty Ltd in 2021 (see Table 2) using a 0.5g/t cut-off grade. See the ASX announcement on 2 August 2021 “Mineral Resource Estimate Declared for Monument Gold Project” for further information.

ate Declared for Monument Gold Project” for further information.	ate Declared for Monument Gold Project” for further information.	ate Declared for Monument Gold Project” for further information.	ate Declared for Monument Gold Project” for further information.
	Korong Resource
Deposit	Tonnes	Grade(g/t)	Au Ounces
Korong	3,034,000	1.4	139,000
Waihi	223,000	2.1	15,000
Total Resource	3,257,000	1.4	154,000

Table 2 : Inferred Resource calculated by CSA Global in 2021 to JORC 2012 compliance

Competent Persons Statement (Monument Gold Project, Western Australia)

The information in this report that relates to Exploration Targets and Exploration Results is based on recent and historical exploration information compiled by Mr Michael Jackson, who is a Competent Person and a Member of the Australian Institute of Geoscientists. Mr Jackson is a consultant 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 the reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Jackson consents to the inclusion in the report of the matters based on his information 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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ASX Announcement

This announcement has been approved for release by the Board of Directors of Si6 Metals Ltd.

ASX CODE: Si6

DIRECTORS

For further information please contact:

Patrick Holywell Corporate Development ph@si6metals.com

Victoria Humphries / Ben Creagh Investor Relations +61 (0)431 151 676 / +61 (0)417 464 233 victoria@nwrcommunications.com.au benc@nwrcommunications.com.au

David Sanders

Non-Exec Chairman

Steve Groves Technical Director

Joshua Letcher

Non-Executive Director

Mauro Piccini Company Secretary

CONTACT

Suite 11, Level 2 23 Railway Road Subiaco WA Australia 6008

+61 (0)8 6559 1792

info@si6metals.com si6metals.com

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