VITA RESOURCES NL — Investor Presentation 2021

Nov 30, 2021

Bastion Minerals Limited (ASX: BMO ) ( Bastion or the Company ) is pleased to provide an update on its on-going exploration program and the completion of detailed geophysical activities within the Capote Mining District and surrounding vein systems in the mineral rich Atacama Region of Chile.

Highlights

• Detailed 360-line-km of 25m spaced ground magnetics acquired over the San Juan Gold Mine and surrounding vein systems.

• The modelling shows potential extensions to high-grade surface gold at Capote and the San Juan Gold vein which produced approximately 0.5Moz at 40g/t.[1]

• 3D magnetic inversions are mapping the sub-surface distribution of mineralised veins at depth of up to 400m highlighting sub-surface extensions.

• 50-line-km of Induced Polarisation ( IP ) and 50-line-km of Audio Magnetotellutics ( AMT ) data currently being acquired.

• IP data acquisition expected to be complete Mid-December.

• The combined 3D Magnetic and IP data will define final drill targets for Capote.

• Maiden 5000 metre drilling campaign to commence in early 2022.

Bastion’s Executive Chairman, Mr. Ross Landles, commented:

“We are extremely excited with the 3D magnetic inversion data produced from the Capote Mining District. This data clearly indicates the high-grade gold surface mineralisation and shows us how the veins hosting these extend to depth and along strike. When we combine these models with the IP and AMT data, we will have an exceptional dataset to allow for a targeted drill program at Capote.”

“Since consolidation of the Capote Mining District, environmental permits have required amendments to reflect the larger landholding to allow exploration drilling to commence. We are now advanced in the process and expect approvals will be provided in December and drilling to commence in early 2022.”

1 ASX Announcement 15 March 2021 - Prospectus

Bastion Minerals Limited ABN: 19 147 948 883 Level 6, 22 Pitt Street Sydney NSW 2000

ASX:BMO www.bastionminerals.com

Page 1 of 14

Ground Magnetics Survey

A ground magnetics survey consisting of 360-line-km of 25m spaced ground magnetics has been completed over the San Juan, Resurgimiento and Yayito Vein Systems (Figure 1) . The objective of this work was to provide highly detailed 3D magnetic models which can image the sub-surface extensions of mineralised veins from surface mapping.

Final data has been received from this survey and this data has been inverted into 3D, building solid geophysical models, from which interpretations of vein orientations, structures and geology can be made (Figure 2) .

Induced Polarisation (IP) / Audio-Magnetotellurics survey (CSMT)

A program of IP and AMT has been designed to cover Yayito, San Juan, Resurgimento and other recognised vein systems (Figure 1) . The objective of this work is to image the subsurface expression of mineralisation. Fifty-line-kilometres of gradient array IP is planned to identify areas of sulphide associated with mineralised veins and fifty line-kilometres of AMT is designed to identify key shallow structures.

Induced Polarisation is a geophysical method which maps the sub-surface distribution of “chargeable” minerals. The sulphide minerals associated with the gold mineralisation at Capote (e.g. pyrite) are chargeable and the distribution of these minerals may correlate closely with the distribution of gold.

Audio-Magnetotellurics is a geophysical method which maps the flow of natural electrical currents within the earth’s crust. These currents will follow conductive zones such as faults and structures and through mapping these key structures can be imaged.

Together the 3D magnetics, IP, AMT, surface geological mapping and geochemistry will provide a highly detailed dataset for accurate drill targeting.

Next Steps

The final preparation stages of the Company’s maiden drilling program are currently underway. Drilling is aimed at expanding gold mineralisation around the known historical deposits at Yayito and Resurgimento veins and testing several new greenfield target areas. The Company will undertake an approximately 5,000-metre diamond drilling program, with a focus on testing the shallow surface expression of multiple vein systems where high-grade gold has been returned from recent rock-chip campaigns. Drill hole locations are being designed and regulatory and environmental approvals process will commence in December.

Bastion Minerals Limited ABN: 19 147 948 883 Level 6, 22 Pitt Street Sydney NSW 2000

ASX:BMO www.bastionminerals.com

Page 2 of 14

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Figure 1: Capote Mining District showing geology, Bastion tenements (blue outline) and newly acquired tenement area (yellow tenement boundary) showing location of the current geophysical survey.

Bastion Minerals Limited ABN: 19 147 948 883 Level 6, 22 Pitt Street Sydney NSW 2000

ASX:BMO www.bastionminerals.com

Page 3 of 14

==> picture [465 x 630] intentionally omitted <==

Figure 2: Detailed 3D magnetic models clearly demonstrate the sub-surface potential of the main vein systems at Capote.

Bastion Minerals Limited ABN: 19 147 948 883 Level 6, 22 Pitt Street Sydney NSW 2000

ASX:BMO www.bastionminerals.com

Page 4 of 14

About Bastion Minerals

Bastion Minerals Limited (ASX: BMO ) ( Bastion or the Company ) is an Australian listed exploration company focused on discovering high-grade precious and base metals deposits within the mineral-rich Atacama Region of Chile (Figure 3) . Bastion’s strategy is to apply cutting-edge exploration to make multiple discoveries on its highly prospective Capote Gold, Cometa Copper-Gold and Garin Gold-Silver Projects, which have had no modern exploration. Bastion provides shareholders the opportunity to participate in discoveries leveraged to precious and base metals.

==> picture [488 x 276] intentionally omitted <==

Figure 3: Bastion Minerals’ Chilean Project Portfolio

This announcement was approved for release by the Board of Bastion Minerals.

For more information contact:

Ross Landles

Ross.landles@bastionminerals.com +61 438 959 144

Bastion Minerals Limited ABN: 19 147 948 883 Page 5 of 14 Level 6, 22 Pitt Street Sydney NSW 2000

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APPENDIX 1 Statements and Disclaimers

Competent Person Statement

The information in this Announcement that relates to exploration results is based on information compiled by Mr Mathew Brown, who is responsible for the exploration data, comments on exploration target sizes, QA/QC and geological interpretation and information. Mr Brown who is an independent consultant to Bastion Minerals and is a Member of the Australasian Institute of Geoscientists, has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity he is undertaking to qualify as the “Competent Person” as defined in the 2012 Edition of the Australasian Code for Reporting Exploration Results, Mineral Resources and Ore Reserves . Mr Brown consents to the inclusion in the report of the matters based on this information in the form and context in which it appears.

Forward-Looking Statements

Certain statements contained in this Announcement, including information as to the future financial or operating performance of Bastion Minerals and its projects may also include statements which are ‘forward ‐ looking statements’ that may include, amongst other things, statements regarding targets, estimates and assumptions in respect of mineral reserves and mineral resources and anticipated grades and recovery rates, production and prices, recovery costs and results, capital expenditures and are or may be based on assumptions and estimates related to future technical, economic, market, political, social and other conditions. These ‘forward-looking statements’ are necessarily based upon a number of estimates and assumptions that, while considered reasonable by Bastion Minerals, are inherently subject to significant technical, business, economic, competitive, political and social uncertainties and contingencies and involve known and unknown risks and uncertainties that could cause actual events or results to differ materially from estimated or anticipated events or results reflected in such forward ‐ looking statements.

Bastion Minerals disclaims any intent or obligation to update publicly or release any revisions ‐ to any forward looking statements, whether as a result of new information, future events, circumstances or results or otherwise after the date of this Announcement or to reflect the occurrence of unanticipated events, other than required by the Corporations Act 2001 (Cth) and the Listing Rules of the Australian Securities Exchange ( ASX ). The words ‘believe’, ‘expect’, ‘anticipate’, ‘indicate’, ‘contemplate’, ‘target’, ‘plan’, ‘intends’, ‘continue’, ‘budget’, ‐ ‘estimate’, ‘may’, ‘will’, ‘schedule’ and similar expressions identify forward looking statements.

Bastion Minerals Limited ABN: 19 147 948 883 Level 6, 22 Pitt Street Sydney NSW 2000

ASX:BMO www.bastionminerals.com

Page 6 of 14

All ‘forward ‐ looking statements’ made in this Announcement are qualified by the foregoing ‐ cautionary statements. Investors are cautioned that ‘forward looking statements’ are not guarantee of future performance and accordingly investors are cautioned not to put undue reliance on ‘forward ‐ looking statements’ due to the inherent uncertainty therein.

For further information please visit the Bastion Minerals website at: www.bastionminerals.com

Bastion Minerals Limited ABN: 19 147 948 883 Level 6, 22 Pitt Street Sydney NSW 2000

ASX:BMO www.bastionminerals.com

Page 7 of 14

JORC Code, 2012 Edition - Table 1 report

Section 1 Sampling Techniques and Data

CRITERIA	JORC CODE EXPLANATION	JORC CODE EXPLANATION	COMMENTARY	COMMENTARY
Sampling	•	Nature and quality of sampling (e.g.,	•	Geochemical samples collected were taken as either continuous
techniques		cut channels, random chips, or		channel samples across the veins sampled or when the vein was
		specific specialised industry standard		too large, as 30 small golf ball sized chips from an area covering
		measurement tools appropriate to the		2m2.
		minerals under investigation, such as	•	Magnetics was collected using a GEM Systems GSM19(-W)
		down hole gamma sondes, or		Overhauser effect fast walking magnetometer.
		handheld XRF instruments, etc).	•	Lines were walked on 25m spacings with an approximate to line
		These examples should not be taken		length of 360km.
		as limiting the broad meaning of	•	Magnetic data was acquired on semi-continuous mode at 1s
		sampling.		intervals and resampled to 1m sample points.
	•	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.
Drilling	•	Drill type (e.g., core, reverse	•	No drilling has been conducted on any project to date.
techniques		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). _
Drill sample	•	Method of recording and assessing	•	No drilling has been conducted on any project to date.
recovery		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.
Logging	•	Whether core and chip samples have	•	No drilling has been conducted on any project to date.
		been geologically and geotechnically	•	Rock Chip and channel samples have been logged to record
		logged to a level of detail to support		location, sample type, sample width, alteration and mineralisation
		appropriate Mineral Resource		visible and structural orientation data.
		estimation, mining studies and
		metallurgical studies.
	•	Whether logging is qualitative or
		quantitative in nature. Core (or
		_costean, channel, etc) photography. _

Bastion Minerals Limited ABN: 19 147 948 883 Level 6, 22 Pitt Street Sydney NSW 2000

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Page 8 of 14

CRITERIA	JORC CODE EXPLANATION	JORC CODE EXPLANATION	COMMENTARY	COMMENTARY	COMMENTARY
	•	The total length and percentage of
		the relevant intersections logged.
Sub-sampling	•	If core, whether cut or sawn and	•	No drilling has		been conducted on any project to date.
techniques and sample preparation	•	whether quarter, half or all core taken. If non-core, whether riffled, tube	•	Rock chip and channel samples have been taken from 3-5kg of available material to ensure sufficient sample size w.r.t host rock grain size.
		sampled, rotary split, etc and whether	•	Channel sampling was conducted to ensure a representative
		sampled wet or dry.		sample across		each vein containing and equal proportion of
	•	For all sample types, the nature,		material from the edges and centre of the vein.
		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.
Quality of	•	The nature, quality and	•	Samples collected by Bastion Minerals (post March 2021 listing)
assay data		appropriateness of the assaying and		have been run		for Fire Assay and or Screen Fire Assay by ALS
and laboratory tests		laboratory procedures used and whether the technique is considered partial or total.		Chile.	o o	Fire assays use a 50gm charge. Screen fire assays use1kg pulp screened to 100
	•	For geophysical tools, spectrometers,				microns . Duplicate 50g assay on screen
		handheld XRF instruments, etc, the				undersize . Assay of entire oversize fraction.
		parameters used in determining the		•	All samples were run for multielement assays for 48
	•	analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. Nature of quality control procedures adopted (e.g., standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e., lack of bias) and precision have been established.			elements using ALS lab code ME-MS61. Please see ALS website for full description and analytical detection limits. o Gold samples above the detection limit (10gm) were run using Au-GRA22. o Copper samples above the upper limit (1%) were run using Cu-OG62. o Lead samples above the upper limit (1%) were run using Pb-OG62. o Zinc samples above the upper limit (1%) were run using Zn-OG62.
			•	Samples collected during and after 2012 from Capote have been
				run for a multielement suite ME-ICP41 with an aqua regia digest
				and an ICP finish for (Ag, Al, As, B, Ba, Be, Bi, Ca, Cd, Co, Cr, Cu,
				Fe, Ga, Hg, K,		La, Mg, Mn, Mo, Na, Ni, P, S, Pb, Sb, Sc, Sr, Th, Ti,
				Tl, U,	V, W, Zn): aqua regia digest is considered a near total digest
				and appropriate for regional exploratory appraisal. Capote Project:
					o	All historic samples from Capote have been
						analysed by ALS Laboratories in La Serina.
					o	All samples from Capote have been analysed for
						Gold using a fire assay with atomic absorption
						spectroscopy, Au-AA23 with a 30gm charge.
					o	Approximately half the samples collected at Capote
						have been analysed for a multi-element suite.
					o	Samples collected before 2012 at Capote were
						analysed by ALS using a multielement suite
						MEICP-61 with a four acid digest and an ICP finish
						for (Ag, Al, As, Ba, Be, Bi, Ca, Cd, Co, Cr, Cu, Fe,
						Ga, K, La, Mg, Mn, Mo, Na, Ni, P, Pb, S, Sb, Sc,
						Sr, Th, Ti, U, V, W, Zn).
					o	Samples collected during and after 2012 from
						Capote have been run for a multielement suite ME-

Bastion Minerals Limited ABN: 19 147 948 883 Level 6, 22 Pitt Street Sydney NSW 2000

ASX:BMO www.bastionminerals.com

Page 9 of 14

CRITERIA	JORC CODE EXPLANATION	JORC CODE EXPLANATION	COMMENTARY	COMMENTARY
				ICP41 with an aqua regia digest and an ICP finish
				for (Ag, Al, As, B, Ba, Be, Bi, Ca, Cd, Co, Cr, Cu,
				Fe, Ga, Hg, K, La, Mg, Mn, Mo, Na, Ni, P, S, Pb,
				Sb, Sc, Sr, Th, Ti, Tl, U, V, W, Zn): aqua regia
				digest is considered a near total digest and
				appropriate for regional exploratory appraisal.
			•	Sample locations were recorded using a hand-held GPS in
				PSAD54-19S as prescribed by the Chilean Mining Regulations.
			•	Geology was recorded for each sample including, sample widths,
				mineralogy, type (vein, host rock, alteration etc). Structural data was
				recorded for vein orientations were available.
Location of	•	Accuracy and quality of surveys used	•	Geochemical sample locations were recorded using a hand-held
data points		to locate drill holes (collar and down-		GPS in PSAD54-19S as prescribed by the Chilean Mining
		hole surveys), trenches, mine		Regulations.
		workings and other locations used in	•	High resolution satellite imagery and digital elevation grids have
		Mineral Resource estimation.		been acquired for Capote, Cometa and Garin.
	•	Specification of the grid system used.	•	Magnetics data was located using a non-differential GPS.
	•	Quality and adequacy of topographic
		control.
Data spacing	•	Data spacing for reporting of	•	Rock-chip sampling has been conducted on an opportunistic (where
and		Exploration Results.		possible) basis. Sampling of vein material has been based on
distribution	•	Whether the data spacing and		available outcrop.
		distribution is sufficient to establish	•	Magnetics data was collected on 25m spaced lines.
		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.
Orientation of	•	Whether the orientation of sampling	•	Channel samples are taken as a contiguous sample perpendicular
data in		achieves unbiased sampling of		to the vein boundaries to obtain a representative sample across the
relation to geological structure		possible structures and the extent to which this is known, considering the deposit type.	•	vein. Magnetics were walked on east west trenching lines to ensure sampling across the key structures and geological features.
	•	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.
Sample	•	The measures taken to ensure	•	Samples were hand delivered by the sampling geologist to the
security		sample security.		laboratory.
Audits or	•	The results of any audits or reviews	•	The data provided by Bastion Minerals has been reviewed by SRK
reviews		of sampling techniques and data.		and is considered to be industry standard and fit for the purpose of
				early stage exploration.
			•	The magnetics data was QA/QC’d, audited and processed by Barry
				de Wet, an independent Geophysical Consultant and industry
				leading expert on geophysical data collection, processing, and
				interpretation.

Bastion Minerals Limited ABN: 19 147 948 883 Level 6, 22 Pitt Street Sydney NSW 2000

ASX:BMO www.bastionminerals.com

Page 10 of 14

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary	Commentary
Mineral	•	Type, reference name/number,	•	Tenement Information is tabulated in Bastion Minerals Prospectus
tenement and		location and ownership including		Documents available on Bastion Minerals website.
land tenure status		agreements or material issues with third parties such as joint ventures,	•	All tenements are believed to be in good standing and there is no known impediment to operating in the area.
		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.
Exploration done	•	Acknowledgment and appraisal of	Capote Project
by other parties		exploration by other parties.		•	Capote consists of a historic gold mining district. Handheld
					mining was conducted in the region from pre-colonial times
					up until 1954.
				•	Comet Exploration conducted rock-chip and channel
					sampling between 2011 and 2019 with 134 surface samples
					from the current Bastion Minerals Tenure Area.
				•	No modern exploration has been conducted within the
					tenement area outside of simple rock-chips and channel
					sample by Bastion Minerals (previouslyComet
					Exploration).
			Garin Project
				•	Handheld mining for silver and gold was conducted sparsely
					within the Garin area from precolonial times until the 1980’s.
				•	Comet Exploration conducted rock-chip and channel
					sampling between 2011 and 2019 with 236 surface samples
					from the current Bastion Minerals Tenure Area.
				•	No modern exploration has been conducted within the
					tenement area outside of simple rock-chips and channel
					samples by Comet Exploration.
			Garin Project
				•	Minor historical shafts and pits are observed within the
					Cometa property, presumably mined for copper.
				•	Comet Exploration conducted rock-chip and channel
					sampling between 2011 and 2019 with 110 surface samples
					from the current Bastion Minerals Tenure Area.
				•	No modern exploration has been conducted within the
					tenement area outside of simple rock-chips and channel
					sample by Comet Exploration.
Geology	•	Deposit type, geological setting and	Capote Project
		style of mineralisation.		•	Capote sits within Cretaceous granodiorite intruding
					Paleozoic sediments and Jurassic volcanic rocks.
				•	Potential mineralisation styles range from epithermal gold
					and silver mineralisation, IOCG style copper silver
					mineralisaiton and potentially copper gold porphyry
					mineralisation. The main target at Capote is epithermal gold
					mineralisation and the historical mining was focused on this.
			Garin Project
				•	Garin sits within an early Cretaceous volcanic arc containing
					structurally controlled batholithic intrusions.
				•	Potential mineralisation styles range from epithermalgold

Bastion Minerals Limited ABN: 19 147 948 883 Level 6, 22 Pitt Street Sydney NSW 2000

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Page 11 of 14

www.bastionminerals.com

Criteria	JORC Code explanation	JORC Code explanation	Commentary	Commentary	Commentary
					and silver mineralisation and potentially copper gold
					porphyry mineralisation. The main target at Garin is
					epithermal gold and silver mineralisation.
			Cometa Project
				•	Cometa sits within an early Cretaceous volcanic arc
					containing structurally controlled batholithic intrusions.
				•	The main target at Cometa is IOCG copper silver
					mineralisation.
Drill hole	•	A summary of all information	•	No drilling has been completed on any of the three projects
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.
Data aggregation	•	In reporting Exploration Results,	•	No drilling has been completed on any of the three projects.
methods		weighting averaging techniques,	•	No equivalent metal values have been used for rock chip data.
		maximum and/or minimum grade
		truncations (e.g., 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.
Relationship	•	These relationships are particularly	•	No drilling has been completed on any of the three projects.
between		important in the reporting of
mineralisation widths and intercept lengths	•	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 (e.g., ‘down hole length, true
		_width not known’). _

Bastion Minerals Limited ABN: 19 147 948 883 Level 6, 22 Pitt Street Sydney NSW 2000

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Page 12 of 14

Criteria	JORC Code explanation	JORC Code explanation	Commentary
Diagrams	•	Appropriate maps and sections	• No drilling has been completed on any of the three projects.
		(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.
Balanced	•	Where comprehensive reporting of	• No drilling has been completed on any of the three projects.
reporting		all Exploration Results is not	• All historic rock-chip data has been displayed and is reported
		practicable, representative	within the Bastion Minerals Prospectus available on the Bastion
		reporting of both low and high	Minerals website.
		grades and/or widths should be
		practiced to avoid misleading
		reporting of Exploration Results.
Other	•	Other exploration data, if	• No drilling has been completed on any of the three projects.
substantive exploration data		meaningful and material, should be reported including (but not limited	• All rock-chip data has been displayed and is reported within the Bastion Minerals Prospectus available on the Bastion Minerals
		to): geological observations;	website.
		geophysical survey results;	• No bulk sampling has been conducted.
		geochemical survey results; bulk	• Satellite imagery, Digital Elevation Models and 13 band alteration
		samples – size and method of	mapping satellite data has been acquired for Capote and Garin. A
		treatment; metallurgical test results;	similar survey is planned for Cometa.
		bulk density, groundwater,	• Airborne magnetics have been acquired by Bastion Minerals over
		geotechnical and rock	the entire project areas at 50m spacings.
		characteristics; potential deleterious or contaminating substances.	• Ground magnetics have recently been acquired for a subset of the Capote Project (this Announcement).
Further work	•	The nature and scale of planned	Capote Project
	•	further work (e.g., tests for lateral extensions or depth extensions or large-scale step-out drilling). Diagrams clearly highlighting the	The exploration program for the Capote Project has been designed for maximum speed and efficiency. Initial rock chip and mapping program will be conducted focused on existing areas of interest (Yayito, Taquia and Andacollo) and areas of strong alteration identified from satellite
		areas of possible extensions,	imagery and 13 band satellite alteration mapping analysis. Key areas
		including the main geological	for drilling will be identified from the compiled assay and mapping data.
		interpretations and future drilling	Ground magnetics will be conducted to cover the entire lease to help
		areas, provided this information is	identify blind structures and image sub-surface vein extents. Electrical
		not commercially sensitive.	geophysics will be considered to help constrain areas of potential sulphide accumulation and sub-surface structure for drill targeting.
			Maps, plans and diagrams showing the location of target areas and
			descriptions of these can be found in and is reported within the Bastion
			Minerals Prospectus available on the Bastion Minerals website.
			Garin Project
			The exploration program for the Garin Project has been designed for
			maximum speed and efficiency. Initial rock chip and mapping program
			will be conducted focused on existing areas of interest at Zulama Vein
			Extensions, Distal Vein, Garin Veijo, Copiapina and areas of strong
			alteration identified from satellite imagery and 13 band satellite
			alteration mapping analysis. Key areas for drilling will be identified
			from the compiled assay and mapping data. Ground magnetics will be
			conducted to cover the entire lease to help identify blind structures and
			image sub-surface vein extents. Electrical geophysics will be
			considered to help constrain areas of potential sulphide accumulation
			and sub-surface structure for drill targeting. Maps, plans and diagrams
			showing the location of target areas and descriptions of these can be
			found in and is reported within the Bastion Minerals Prospectus
			available on the Bastion Minerals website.
			Cometa Project
			The exploration program for the Cometa Project has been designed for
			maximum speed and efficiency. Initial rock chip and mapping program
			will be conducted focused on existingareas of interest(I,II and III)and

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Page 13 of 14

Criteria	JORC Code explanation	Commentary
		areas of strong alteration identified from satellite imagery and 13 band
		satellite alteration mapping analysis. Key areas for drilling will be
		identified from the compiled assay and mapping data. Ground
		magnetics will be conducted to cover the entire lease to help identify
		blind structures and image sub-surface vein extents. Electrical
		geophysics will be considered to help constrain areas of potential
		sulphide accumulation and sub-surface structure for drill targeting.
		Maps, plans and diagrams showing the location of target areas and
		descriptions of these can be found in and is reported within the Bastion
		Minerals Prospectus available on the Bastion Minerals website.

Bastion Minerals Limited ABN: 19 147 948 883 Level 6, 22 Pitt Street Sydney NSW 2000

ASX:BMO www.bastionminerals.com

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