VERITY RESOURCES LIMITED — Capital/Financing Update 2022

Sep 7, 2022

ASX Code: Si6

ASX Announcement

8 September 2022

BOTSWANA UPDATE – REGIONAL EXPLORATION & ACQUISITIONS

Highlights

• Promising base metal results (often associated with prominent geophysical features) received at 100%-owned tenure.

• Evidence of ultramafic lithology identified across the Maibele-Mashambe trend with elevated copper, zinc and nickel.

• Maibele-Mashambe lies along an interpreted linear geological trend that passes through the Maibele Ni-Cu-PGM resource and is possibly a preferential horizon for hosting Ni-sulphide deposits.

• Sampling and mapping at Gobajango revealed previously unknown trenches across gossanous material and outcropping ultramafic rocks coincident with GEOTEM anomalies.

• Future work will include detailed mapping, further sampling and ground geophysics in order to generate drill targets on the 100%-owned tenure.

• Drilling on joint venture ground planned for later in 2022 with Si6 currently progressing through approvals with relevant regulatory bodies.

• Investment in Cobre Limited increases value to circa $500,000 following significant copper discovery in the Kalahari copper belt.

Si6 Metals Limited ( ASX: Si6 or the Company ) is pleased to announce results from recently completed soil and rock sampling, trenching and mapping at regional prospects in Botswana. The prospects are outside of the main Maibele base metals resource areas and are owned 100% by Si6. The fieldwork focused on the Maibele East, Mashambe and Gobajango prospects, targeting base and precious metals. Si6’s secondary focus was on assessing the prospectivity for pegmatite-hosted mineralisation such as lithium, caesium and tantalum, rare earths and gold.

Si6 is primarily exploring for base and precious metals in the Limpopo Mobile Belt in Botswana, a district known for hosting major nickel and copper producing operations. The Company’s portfolio contains an advanced Ni-Cu-Co-PGE resource at Maibele North and drilled high-grade Cu-Ag discoveries at Airstrip and Dibete that are in joint venture with BCL Limited ( BCL ), which has been in liquidation for several years. The joint venture tenements are controlled 60% by Si6 and 40% by BCL. The project contains nickel sulphide mineralisation related to ultramafic intrusions within mobile belt rocks and is broadly similar in style to other ultramafic intrusion-related mobile belt nickel discoveries such as IGO’s NovaBollinger ( ASX:IGO ), Chalice Mining’s Julimar ( ASX:CHN ) and the globally significant Thompson Belt in Canada. It currently hosts a resource of 2.4Mt @ 0.72% Ni and 0.21% Cu + PGMs + Co + Au.

Si6’s Technical Director, Mr Steve Groves stated, “These encouraging results in Botswana on our 100%owned tenure are a positive development for Si6 as we look to accelerate exploration activities in the country. Si6 intends to continue the work which has started on this tenure as we aim to build a stronger understanding of these areas and generate a number of priority drill targets for future programs.

“In addition to these activities, Si6 is also preparing to commence drilling at our joint venture ground in Botswana this year, with several key targets identified from previous work. We are currently progressing the required approvals to commence this work. Having exploration activities underway at both our joint venture and 100%-owned properties in Botswana is an exciting prospect that is now within our grasp and we look forward to updating shareholders on our progress in this regard.”

Joint Venture Project & Drilling Plans

The liquidators of BCL have recently provided consent for Si6 to undertake exploration and drilling activities on the joint venture tenements owned 60% by Si6 and 40% by BCL. Si6 is now progressing through approvals with relevant regulatory bodies. Drilling is currently planned for later in 2022.

Si6 has recently reported compelling drill targets from the significant amount of work undertaken including the 2021 geophysical programs, which substantially increased the chances of drilling success.

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Figure 1 : Si6’s base metals project in Botswana. The darker blue areas account for circa 1,800km[2] and are owned 100% by Si6. The JV ground in light blue is owned 60% by Si6 in joint venture with BCL.

Maibele East & Mashambe Prospects

Regional exploration commenced at the Maibele East and Mashambe Prospects which both lie along strike to the northeast from the Maibele North Ni-Cu-PGM resource (Figure 2). Both prospects are located on Si6’s 100%-owned tenure and have been identified as priority, early-stage targets. Both prospects lie along an interpreted linear geological trend that passes through Maibele North and is possibly a preferential horizon for hosting Ni-sulphide deposits.

Work completed across the prospects included soil sampling along 40 x 2km lines spaced 200m apart, perpendicular to the regional lithology strike in order to cover the extents of the linear trend across, and in between, both prospects. Mapping around the sample sites has identified likely areas of ultramafic lithology with several GEOTEM conductors also evident along the trend.

Field portable XRF (FPXRF) analysis has been undertaken on the soil samples and has revealed elevated levels of elements such as copper, zinc and nickel coincident with the interpreted extension of the Maibele North linear trend through the grid.

Further work, including detailed mapping, further sampling and ground geophysics are required to generate drill targets in the area.

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Figure 2 : Si6 regional prospects over the 1989 GEOTEM data. Red outlines indicate prospect area extents.

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Figure 3: Si6’s regional prospects in relation to Maibele North, Airstrip and Dibete over the Company’s VTEM data. Red outlines indicate prospect area extents.

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Figure 4 : The soil sampling grid showing areas of anomalous copper-in-soil levels (yellow shapes, >3x background levels) as revealed by the FPXRF analysis. Background is VTEM image.

Gobajango Prospect

A further 60 soil test lines were completed across two grids at the Gobajango Prospect. The area has had minimal exploration and contains a GEOTEM anomaly and a dyke that transect the tenement (Figure 2). Mapping has revealed that the dyke cuts across gneisses and a gabbroic body. Elevated geochemical responses over the geophysical highs have been demonstrated from two soil test lines.

Geological field observations during the sampling program revealed a number of overgrown historic trenches excavated across a gossanous BIF horizon containing outcropping ultramafic occurrences

(Figure 7). The location of outcropping ultramafic rocks and spatially associated gossanous material coincident with airborne EM conductors (GEOTEM) confirms significant prospectivity of this new, underexplored area.

Samples from Gobajango have been analysed using the FPXRF and have revealed a number of anomalous base metal zones coincident with prominent GEOTEM anomalies in the area (Figures 5 & 6).

Twenty-five (25) lines at 200m spacing and 50m sampling interval were completed at Grid A. The FPXRF analysis shows a well-defined base metal trend coincident with the GEOTEM anomaly. Copper values generally correlate with amphibolite mapped in the field. Elevated nickel is evident in the FPXRF data where samples were taken from areas with mapped serpentinite. This is particularly encouraging, with ultramafic rock units such as serpentinite identified as the host rocks to mineralisation at the nearby Maibele North Ni-sulphide resource.

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Figure 5 : The soil sampling locations across Gobajango Grid A over the regional GEOTEM image. Anomalous copper (yellow) and nickel (orange) (>3x background) from the FPXRF analysis are highlighted. Note the coincidence of anomalism with the stronger GEOTEM response.

A total of 35 x 200m-spaced lines sampled at 50m intervals were completed at Grid B. Elevated responses strongly coincident with the elongate GEOTEM anomaly at the prospect were recorded in base metals such as Cu, Zn and Ni. Although outcrop in the area is poor, the FPXRF analysis has indicated that the GEOTEM anomaly is likely related to mafic-ultramafic rock types and presents as a target prospective for hosting sulphide mineralisation.

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Figure 6 : The soil sampling locations across Gobajango Grid B over the regional GEOTEM image. Anomalous copper (yellow) and nickel (orange) (>3x background) from the FPXRF analysis are highlighted. Note the coincidence of anomalism with the stronger GEOTEM response. Ultramafic lithology has been mapped across the grid and is coincident with anomalous copper and nickel.

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A
B
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D
C
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Figure 7 : Photos from the Gobajango Prospect: Images A. and B. show two of the historic trenches. Image C. sows outcropping gossanous material and image D. shows outcropping ultramafic material exposed in the trench.

The soil sampling work at Gobajango has revealed two prospective targets containing elevated base metals in soils coincident with GEOTEM conductive anomalies and likely ultramafic-mafic geological sequences. These are the characteristics that often mark base-metal sulphide mineralisation in the region and elevates these prospects to targets worthy of further exploration.

Further work, including detailed mapping, further sampling and ground geophysics are required to generate drill targets in the area.

Secondary Exploration Targets (pegmatite-hosted mineralisation, rare earths and gold)

Si6’s portfolio contains Archean cratonic rocks as well as re-worked Archean rocks and has been shown to contain evidence of pegmatite dykes throughout. The Company’s portfolio abuts the Zimbabwe border where the same belt of Archean geology hosts one of the world’s largest lithium pegmatite mines at Bikita.

Si6 has previously undertaken a limited review and preliminary soil sampling to test for lithium, tantalum and other LCT pegmatite hosted metals to follow up on historic stream sediment samples (see ASX announcement on 27 February 2017). That work did reveal some anomalism in Li, Ta and Sn and often occurred coincident with elevated levels of all three elements which is a pattern that could be expected if they are related to mineralised pegmatites. Peak levels of Li, Ta and Sn are similar in tenor to those recorded from soil sampling in other areas of the world where LCT pegmatites occur. Si6 previously submitted 86 samples over 8km in the Maibele area. Samples were collected at 50m intervals from 42, 1km long lines spaced 200m apart.

The University of Botswana recently expressed an interest in undertaking a regional study of Si6’s portfolio for the potential to host strategic critical minerals such as lithium, tin, tantalum and rare earth

elements. Due to resourcing issues, the University has not yet been able to undertake a review but expects to be in a position to do so in the near term. As an interim step, Si6 commenced a desktop review and a brief field visit to search a couple of areas of interest. Several trenches were dug but no significant findings were made. Minor reconnaissance mapping did reveal some pegmatite bodies but these do not appear to be of the LCT type.

Si6 plans on commencing further reviews and a comprehensive field program in collaboration with the University of Botswana. Now that approval has been received from the joint venture partner, Si6 is in a position to conduct exploration on the joint venture tenements which are currently the most prospective for LCT pegmatite mineralisation based on prior work (see ASX announcement 27 February 2017). Si6 will also review the chemistry of regional granitic intrusions and look to identify fractionation trends associated with causative intrusion where prospective zones might occur on the Company’s ground.

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Location of trenches
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Figure 8: Coloured gridded image of the 1997/98 MAGSAM Ta results showing several strongly anomalous areas across Si6’s historic portfolio (Red colours). Follow up soil sampling in area 1 showed elevation in Li, Ta and Sn (ASX Announcement 18/05/2016) and highlight the potential of Si6’s portfolio to contain strategic mineral mineralisation .

Acquisitions & Investments

Earlier in 2021, Si6 purchased 1,000,000 Cobre Limited ( ASX: CBE or Cobre ) shares which were valued at circa $90,000 (end of 2021). Si6’s strategy has always focused on exploration of both its projects in Botswana and Western Australia, in addition to the acquisition of projects or investments elsewhere.

As a result of ongoing delays in dealing with Si6’s joint venture partner, mainly due to the fact that they have been in liquidation for several years, the board made the decision to undertake regional exploration and seek out complementary acquisitions or investments elsewhere in Botswana. Cobre met the desired criteria and represented compelling value. That investment is now worth almost $500,000.

Cobre’s project is within the Kalahari copper belt of Botswana which is regarded as one of the most prospective areas globally for copper exploration by the US Geological Survey, with a number of coppersilver deposits currently under development. Cobre’s landholdings are along strike, and adjacent to, two major development projects: Cupric Canyon’s high-grade Zone 5 Cu-Ag deposit and Sandfire’s (ASX: SFR) T3 Motheo Cu-Ag deposit. Cobre is the second largest tenement holder in the highly prospective belt after Sandfire Resources.

Six weeks ago, Cobre confirmed it had made a significant copper discovery at its project from recent and ongoing drilling programs (see CBE’s ASX announcement on 27 July 2022). Initial drill programs were designed to test the first of 57 ranked priority targets. The footprint of mineralisation currently extends over 4km which is in line with the largest known deposits in the belt.

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Figure 9 : Location of Cobre’s project (held by subsidiary “KML”) adjacent to Sandfire Resources and Cupric Canyon Capital and further below, outline of recent copper mineralisation across a 4km strike length. See CBE’s ASX announcements on 27 July 2022 and 31 August 2022.

Maibele Base Metals Joint Venture Project, Botswana, Resource Information

An initial JORC-compliant (2012) Inferred Resource was calculated at Maibele North by MSA South Africa in 2015 (see Table 1) using a 0.30% Nickel cut-off grade. See the ASX announcement on 28 April 2015 “Maiden Inferred Resource for Maibele North” for further information.

		Maibele North Resource	Maibele North Resource	Maibele North Resource	Maibele North Resource
Tonnes (Mt)	Ni (%)	Cu (%)	Pt (g/t)	Pd (g/t)	Rh (g/t)	Ru (g/t)	Au (g/t)
2.38	0.72	0.21	0.08	0.36	0.04	0.05	0.10

Table 1 : Inferred Resource calculated by MSA South Africa in 2015 to JORC 2012 compliance

Competent Persons Statement (Maibele Base Metals Project, Botswana)

The information in this report that relates to Exploration Targets and Exploration Results is based on recent and historical exploration information compiled by Mr Steven Groves, who is a Competent Person and a Member of the Australian Institute of Geoscientists. Mr Groves is a Director of Si6 Metals Limited. Mr Groves 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 Groves 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.

Appendix 1 - JORC Code, 2012 Edition – Table 1

Section 1 Sampling Techniques and Data

CRITERIA	JORC Code Explanation	Commentary
Sampling techniques	• Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. • 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 (eg ‘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 (eg submarine nodules) may warrant disclosure of detailed information.	•Soil samples were collected on site using a handheld GPS for positioning. •A pick was used to dig on the ground to approximately 30 cm to sample horizon B of the soil profile. •A shovel was used to clean top soil material and to collect the sample into small plastic bag of 50 microns. 1 to 2 kg sample was collected at every sample point then tagged on site before transport to storage yard. •Each sample was analyzed in the SI6 field office in Tshokwe village using a portable XRF analyser (Innov-X Delta Premium) Industry standards and blanks are used to monitor the calibration of the instrument.
Drilling techniques	• Drill type (eg core, reverse circulation ,open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg 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).	•No drilling referred to in the document.
Drill sample recovery	• Method of recording and assessing core and chip sample recoveries and results assessed. • Measures taken to maximise sample recovery and ensure representative nature of the 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.	•No drilling referred to in the document.
Logging	• Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. • The total length and percentage of the relevant intersections logged.	•No drilling referred to in the document.
Sub-sampling techniques and sample preparation	• If core, whether cut or sawn and whether quarter, half or all core taken. • If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. • For all sample types, the nature, quality and appropriateness of the sample preparation technique. • Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. • Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. • Whether sample sizes are appropriate to the grain size of the material being sampled.	•No drilling referred to in the document.
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. • 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. • Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.	•An Olympus Innov-X Delta Premium portable XRF analyzer was used with a Rhenium anode in soil and mines mode at a tube voltage of 40kV and a tube power of 200µA. The resolution is around 156eV @ 40000cps. The detector area is 30mm2 SDD2. A power source of Lithium- i o nbatteries is used. The element range is from P (Z15 to U (Z92). A cycle time of 60 seconds Soil Mode was used and beam times were 20 seconds. A propylene3 window was used. No calibration factors were applied. •Blanks and standards are analysed at after every 10thXRF sample point. •The XRF analysis is a preliminary result only and will be confirmed by proper wet chemistry analysis. Concentrations are approximate only.

CRITERIA	JORC Code Explanation	Commentary
Verification of sampling and assaying	• The verification of significant intersections by either independent or alternative company personnel. • The use of twinned holes. • Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Discuss any adjustment to assay data.	•The data were examined by the senior personnel on site. •No twinned holes were drilled. •The primary data were audited and verified and then stored in a SQL relational data base. •No data have been adjusted.
Location of data points	• Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. • Specification of the grid system used. • Quality and adequacy of topographic control.	• A handheld GPS was used to locate each sample point. Accuracy of +/- 5m is considered reasonable • The grid system for the project WGS 84 / UTM zone 35S
Data spacing and distribution	• Data spacing for reporting of Exploration Results. • 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. • Whether sample compositing has been applied.	•Soil sampling was completed on 200m line spacing at a 50m sample point along each line •The spacing is deemed appropriate for testing the mineralisation along strike.
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. • 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.	•Surveys were completed perpendicular over geological strike.
Sample security	• The measures taken to ensure sample security.	•Samples were taken and transported by SI6 personnel to the SI6 site office. Prior to XRF analyses the samples are locked in the SI6 sample storage shed.
Audits or reviews	• The results of any audits or reviews of sampling techniques and data.	•The data were examined by the Competent Person, Mr Steve Groves of Sydney in Australia and considered appropriate.

Section 2 Reporting of Exploration Results

(Criteria in this section apply to all succeeding sections.)

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 security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	•The results reported in this announcement are on granted exploration licences held by SI6 subsidiary African Metals (Pty) Ltd in Botswana •At this time the tenements are believed to be in good standing. There are no known impediments to obtain a license to operate, other than those set out by statutory requirements which have not yet been applied for.
Exploration done by other parties	•Acknowledgment and appraisal of exploration by other parties.	•Interpretations and conclusions in this announcement refer in part to results generated by historic exploration work conducted by Roan Selection Trust, Falconbridge, Cardia Mining and Si6 Metals. •SI6 Metals considers all previous exploration work to have been undertaken to an appropriate professional standard.
Geology	•Deposit type, geological setting and style of mineralisation.	•The main Prospect is hosted within the Magogaphate Shear Zone - a major geological structural feature, generally considered to mark the boundary between the Archaean aged (>2.5 billion year old) Zimbabwean Craton and the Limpopo Belt or Limpopo Mobile Zone (LMZ). The nickel-copper deposits of Selebi Phikwe lie within the northern part of the Central Zone of the Limpopo Mobile Belt, whilst the nickel copper deposits of Phoenix, Selkirk and Tekwane lie in the Zimbabwean Craton. The Central Zone of the LMZ comprises variably deformed banded gneisses and granitic gneisses, infolded amphibolites and ultramafic intrusions that that have the potential to host Ni-Cu sulphide mineralization. Cu-Ag mineralization at Dibete and Airstrip copper is spatially associated with dolerite intrusion •The Lepokole Shear Zone is equivalent to the Gobe Shear Zone of Temby (1999), which, like the Magogaphate Shear Zone, is a ductile strike slip shear zone, dipping steeply to the south, trending ENE-WSW. The Lepokole Shear Zone is around 5kms wide. Paya reports that a dextral sense of movement has been determined from S-C fabrics

CRITERIA	JORC Code Explanation	Commentary
		and rotated megacrysts, and this would be expected. Mineral stretching lineations are reported as often developed on shear planes with subhorizontal orientations, with a maximum plunge to the west of around 24 degrees. •Progressive increase of the intensity of deformation within the shear zone is indicated by the gradational development of mylonitic fabrics in the Lepokole granite.
Drill hole Information	•A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all material drill holes: o easting and northing of the drill hole collar o elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar o dip and azimuth of the hole o down hole length and interception depth o 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.	•No drilling reported in this release.
Data aggregation methods	•In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be 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.	•Only original data are reported with no weighting averaging or grade truncations.
Relationship between mineralisation widths and intercept lengths	•These relationships are particularly important in the reporting of Exploration Results. •If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. •If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’).	•No drilling reported in this release.
Diagrams	•Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	•Plan view maps of the reported results are included in this announcement.
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.	•The results in this announcement are interpreted to lie within the plane of a mineralized trend and are supported by reginal geophysical survey
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.	•There is no other material exploration considered material to the reported mineral estimate
Further work	•The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale step-out drilling). •Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	•Should further geophysical surveying prove positive, follow up drilling would be required to further test the mineralisation. •SI6 Metals Limited is currently integrating and reviewing all the exploration results. Further work will be determined upon a full analysis and interpretation of results.

Appendix 2: Field portable Xray fluorescence method of analysis and equipment check against certified reference materials (CRM)

All field samples were analysed using the Innov-X Olympus Delta Premium Field portable XRF machine (FPXRF) using the soil mode setting. The FPXRF analysing time was set at 60 seconds analysis. The samples were collected on clear 50-micron sample bags. The sample bags were wiped clean with a microfibre cloth prior to analysis. The analyser sampled twice and the result automatically averaged.

The table below shows the performance of the FPXRF analysis against two certified refence materials from African Mineral Standards (AMIS) part of Torre Industries South Africa. AMIS 249 represented low grade copper standard and the grade used was obtained using 12 averages of the standards after calibration and checking with quartz powder blank. The average FPXRF copper result of the CRM checks over wide range of samples was 19% below average. A test run-on high-grade RC samples was done for high checks against the instrument using CRM AMIS 331. Same procedure used on low grade soils samples was applied for the high grade. The values were above average to the CRM copper value by 33%. On the current program it can be concluded that the copper values on the soils may be lower than actual by 19.6%. The FPXRF results are for differentiating between lows and highs across a range of geochemistry dataset.

		FPXRF Result	STANDARD VALUE		FPXRF Result	STANDARD VALUE
CERTIFIED REFERENCE MATERIAL	Unit	Fe	Fe STD	Error (% from CRM)	Cu	Cu STD	Error (% from CRM)
AMIS 249	PPM	16079.14286	21000	23.43265	2885.285714	3593	19.6
		FPXRF Result	STANDARD VALUE		FPXRF Result	STANDARD VALUE
CERTIFIED REFERENCE MATERIAL	Unit	Ni	CRM Ni	Error (% from CRM)	Cu	CRM Cu	Error (% from CRM)
AMIS 0331	%	6.248865	4.671	-33.78	5.7543135	4.339	-32.6

ASX CODE: Si6

This announcement has been approved for release by the board of directors of Si6 Metals Ltd.

For further information please contact:

Patrick Holywell Corporate Development +61 (0)8 6559 1792 ph@si6metals.com

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

DIRECTORS

David Sanders Non-Executive Chairman

Steve Groves

Technical Director

Joshua Letcher

Non-Executive Director

Mauro Piccini

Company Secretary

CONTACT

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

+61 (0)8 6559 1792

info@si6metals.com si6metals.com