XPEDRA RESOURCES LIMITED — M&A Activity 2026

Apr 20, 2026

XPEDRA
Resources Limited
21 April 2026
ASX:XPD
ASX ANNOUNCEMENT

XPEDRA ACQUIRES HIGH-GRADE NEELD GOLD PROJECT IN NSW FROM SATURN METALS

Binding agreement executed to acquire 100% interest in a significant portion of one of Australia’s highest grade historical goldfields

Highlights:

• Historical recorded production from the Neeld Gold Project, located near West Wyalong in NSW, totalled approximately 439,000oz of gold at 41g/t Au, including peak annual production of 44,675oz of gold in 1899 at an exceptional grade of 101g/t Au¹.
• No substantial exploration undertaken at the project since 1916, with only four holes drilled deeper than 200 metres.
• Mineralisation remains open at depth and along strike, with strike extensions of high-grade veins largely untested.
• Acquisition further expands Xpedra’s existing exploration footprint in the Lachlan Fold Belt in NSW, complementing the Company’s 100%-owned Springfield Gold Deposit, where its maiden drilling program is currently progressing well.

Xpedra’s Managing Director, Scott Funston, said:

“We are very pleased to announce the addition of a second high-grade gold project to our portfolio. Historically, 439,000 ounces of gold at exceptionally high-grades, averaging 41g/t Au, were mined from the Neeld Gold Project, which we are acquiring from Saturn Metals”.

“There has been minimal exploration since mining ceased in 1916, with only four holes ever drilled to a depth greater than 200 metres, all of which intersected gold mineralisation. The ultra-high grade quartz veins remain completely open along strike and at depth. We will be targeting depth extensions, parallel repeat lodes and undiscovered mineralised zones as part of our systematic exploration programs”.

“The acquisition of Neeld is a great opportunity for our shareholders, further expanding our footprint in the Lachlan Fold Belt where our maiden drilling program at our flagship Springfield Gold Deposit is progressing well, with assays to be systematically returned over the coming weeks.”

¹ Geological Survey (GS) 1928/007 Geological Survey of New South Wales (1975) Annual Report Compilation, West Wyalong Division - Forbes Sheet R0018585 Table of historic production figures p.41/p42

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XPEDRA
Resources Limited

Xpedra Resources Limited (ASX: XPD; “Xpedra” or “the Company”) is pleased to announce the acquisition of the under-explored, exceptionally high-grade brownfields Neeld Gold Project (“Neeld” or “the Project”) in the Lachlan Fold Belt, NSW.

The project is being acquired from WA-focused gold developer Saturn Metals Limited (ASX: STN), which considers the asset to be non-core given its focus on advancing its flagship Apollo Hill Gold Project in WA towards development.

Historical Production

The Neeld Gold Project encompasses the West Wyalong Goldfield, from which recorded historical production from operations between 1894 to 1915 totaled approximately 439,000oz of gold at an exceptionally high average grade of 41g/t Au (see Table 1 below).

Peak production was in 1899 at 44,675oz of gold, with a recovered average grade of 101g/t Au. The decline in production in 1916 coincided with the onset and duration of the First World War.

Most of the mined lodes have not been worked below 50 metres depth, with the exception of a number of shafts on the Mallee Bull Reef Line, where stoping was undertaken to a maximum depth of 274 metres. While pre-production development along this line of workings reached depths of up to 411 metres, the deeper developed ore was never mined – highlighting an immediate opportunity for the Company to rapidly delineate un-mined high-grade resources immediately below the historical stopes (see Figure1).

Year	Processed Ore		Ounces of Gold Produced	Recovered Grade g/t Au
	Short Tons	Metric Tonnes
1894	6,358.00	5,767.88	9,649.00	52.03
1895	15,634.00	14,182.93	24,497.00	53.72
1896	18,297.00	16,598.76	33,495.00	62.76
1897	30,750.00	27,895.94	34,370.00	38.32
1898	30,940.00	28,068.30	34,582.00	38.32
1899	15,116.00	13,713.01	44,675.00	101.33
1900	22,387.00	20,309.15	32,425.00	49.66
1901	23,858.00	21,643.62	21,717.00	31.21
1902	18,430.00	16,719.42	20,718.00	38.54
1903	12,021.00	10,905.27	19,124.00	54.54
1904	18,733.00	16,994.30	28,388.00	51.96
1905	10,555.00	9,575.34	24,708.00	80.26
1906	14,791.00	13,418.17	22,936.00	53.17
1907	20,619.00	18,705.25	20,347.00	33.83
1908	19,348.00	17,552.22	16,586.00	29.39
1909	29,397.00	26,668.52	9,981.00	11.64
1910	20,655.00	18,737.91	9,091.00	15.09
1911	16,870.00	15,304.21	7,865.00	15.98
1912	6,941.00	6,296.77	5,882.00	29.05
1913	6,834.00	6,199.70	8,525.00	42.77
1914	6,084.00	5,519.31	5,406.00	30.46
1915	3,585.00	3,252.26	3,836.00	36.69
Total	368,203.00	334,028.24	438,803.00	40.86

Table 1 – Historical recorded gold production figures from West Wyalong Goldfield²

² GS 1928/007 Geological Survey of New South Wales (1975) Annual Report Compilation, West Wyalong Division - Forbes Sheet R0018585 Table of historic production figures p.41/p42

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XPEDRA
Resources Limited

Figure 1 – Composite long section of the historical Mallee Bull gold workings.³

Previous Exploration

Despite the exceptional historical production records that are available, modern exploration at Neeld has been very limited and has comprised regional mapping, rock chip and soil geochemistry, auger drilling, grid-controlled air-core sampling and shallow RC drilling (less than 200m).

A total of only sixteen holes within the Project area were drilled to depths greater than 100 metres.

Only four diamond drill holes have been completed within the Project area to depths of more than 200m – all of which intersected gold mineralisation⁴.

In 2021, Saturn drilled the only holes ever recorded to test the down-dip extensions of mineralisation – with all four diamond holes intersecting gold mineralisation. There has been negligible exploration along strike of the high-grade veins.

The historical development of workings on dozens of parallel gold lodes highlights a fertile mineralised system. Throughout the district, mineralisation remains open at depth and along strike.

In 1997, Golden Cross Resources conducted systematic, close-spaced shallow drilling of historical tailings, delineating significant quantities of gold in tailings within 5 metres of surface. In addition to undertaking exploration work to delineate grade gold resources, the Company will immediately evaluate opportunities for potential nearer-term cash-flow from re-processing tailings.

The Company will commence a systematic exploration program at Neeld following review of all historical information and obtaining any requisite permits and approvals.

³ Adaptation of GS 1928/007 Geological Survey of New South Wales (1975) Annual Report Compilation, West Wyalong Division - Forbes Sheet R0018585; historic composite long section of Mallee Bull Reef Line p.60/61. Saturn Metals Limited ASX Announcement "Saturn Joint Ventures into Second Gold Asset - High Grade West Wyalong Gold Field" 28 April 2020.
⁴ Saturn Metals Limited ASX Announcement 27 October 2021 "Exploration Update - Maiden Drill Program West Wyalong Joint Venture".

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XPEDRA
Resources Limited

Figure 2 – Plan view of compiled and historic Mallee Bull Reef level plans and previous drilling locations.⁵

⁵ Adaptation of GS 1928/007 Geological Survey of New South Wales (1975) Annual Report Compilation, West Wyalong Division - Forbes Sheet R0018585; historic composite long section of Mallee Bull Reef Line p.60/61, Saturn Metals Limited ASX Announcement "Saturn Joint Ventures into Second Gold Asset - High Grade West Wyalong Gold Field" 28 April 2020 and 27 October 2021 "Exploration Update - Maiden Drill Program West Wyalong Joint Venture".

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XPEDRA
Resources Limited

Figure 3 – Historical mining within a ~3 metre stope at Neeld’s Gold Mine⁶

Figure 4 – Saturn’s Diamond Drilling at the Neeld Gold Project in 2021

⁶ Photograph taken of historic photographic print on Wall of the True Blue Motel, West Wyalong.

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XPEDRA
Resources Limited

Acquisition of the Neeld Gold Project

Xpedra will acquire the high-grade Neeld Gold Project by purchasing a 100% interest in two tenements, EL8815 and EL9168, from two different registered vendors.

Exploration Licence	Registered Ownership	Expiry	Registered Tenement Owner
EL8815	100%	14 January 2028	Weddarla Pty Ltd
EL9168	100%	03 May 2027	Saturn Metals Limited

Table 2 – Tenements that comprise the Neeld Gold Project, NSW.

Key commercial terms comprise:

EL8815

• $250,000 in cash

• 41,500,000 shares in Xpedra

• 20,750,000 shares to be escrowed for 3 months from the date of issue

• 18,750,000 shares to be escrowed for 6 months from the date of issue
• 2,000,000 Shares are not subject to escrow

The Consideration includes 4,000,000 shares in XPD for acquiring and cancelling a 0.75% contingent vendor royalty interest at completion, ensuring full economic exposure to the project.

EL9168

• 2,500,000 shares in Xpedra

• 1,250,000 shares to be escrowed for 3 months from the date of issue

• 1,250,000 shares to be escrowed for 6 months from the date of issue

The vendors of the Neeld Gold Project are not related parties of Xpedra.

Completion is subject to receipt of all necessary regulatory approvals.

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XPEDRA

Resources Limited

Figure 5. Location of the Neeld Gold Project in relation to Xpedra's other high-grade gold and antimony projects in NSW

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XPEDRA
Resources Limited

This announcement was authorised for release by the Board of Directors.

For further information please contact:

Scott Funston
Managing Director
Xpedra Resources Limited
Phone: +61 413 867 600
Email: sfunston@xpedraresources.com

Nicholas Read
Read Corporate
Media Inquiries:
Phone: +61 419 929 046
Email: nicholas@readcorporate.com.au

Additional Information

Competent Persons Statement

The information in this announcement that relates to exploration results is based on, and fairly reflects, information compiled by Mr Charlie Voorn, who is a consulting geologist. Mr Voorn is a Registered Member of the Australian Institute of Geoscientists and is an independent consultant geologist. Mr Voorn has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and the activity he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results and Mineral Resources (JORC Code). Mr Voorn consents to the inclusion in the announcement of the matters based on the information in the form and context in which it appears.

Forward Looking Statements

Information included in this announcement constitutes forward-looking statements. When used in this announcement, forward-looking statements can be identified by words such as "anticipate", "believe", "could", "estimate", "expect", "future", "intend", "may", "opportunity", "plan", "potential", "project", "seek", "will" and other similar words that involve risks and uncertainties.

Forward-looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the Company's actual results, performance and achievements to differ materially from any future results, performance or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licences and permits and diminishing quantities or grades of resources and reserves, political and social risks, changes to the regulatory framework within which the Company operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation as well as other uncertainties and risks set out in the announcements made by the Company from time to time with the Australian Securities Exchange.

Forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, its directors and management of the Company that could cause the Company's actual results to differ materially from the results expressed or anticipated in these statements.

The Company cannot and does not give any assurance that the results, performance or achievements expressed or implied by the forward-looking statements contained in this announcement will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements. The Company does not undertake to update or revise forward-looking statements, or to publish prospective financial information in the future, regardless of whether new information, future events or any other factors affect the information contained in this report, except where required by applicable law and stock exchange listing requirements.

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XPEDRA

International

JORC Code, 2012 Edition -Table 1 - West Wyalong Historic Mining and Exploration Area

Section 1 Sampling Techniques and Data

(Criteria in this section apply to the West Wyalong exploration area and all succeeding sections.)

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.	• No exploration undertaken only compilation of historic data from the Geological Survey of New South Wales (NSW) and NSW Department of Industry Planning and the environment web sources such as MinView. No verification has been made as to the accuracy of measurements and methods of assay.
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 results reported. Historical drilling on the project included reverse circulation, aircore, rotary air-blast, open-hole percussion, and diamond drilling.
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 results reported. For information pertaining to the four diamond holes drilled by Saturn Metals in 2021 and mentioned in the body of the report, please see the Saturn Metals (ASX:STN) announcement 27 October 2021 "Exploration Update - Maiden Drill Program West Wyalong Joint Venture".
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.
• 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	• No drilling results reported. For information pertaining to the four diamond holes drilled by Saturn Metals in 2021 and mentioned in the body of the report, please see the Saturn Metals (ASX:STN) announcement Saturn Metals Limited ASX Announcement 27 October 2021 "Exploration Update - Maiden Drill Program West Wyalong Joint Venture".
	• How long is the sample preparation technique and method used for the sampling of the mineral and the total length of the mineral samples.
• How long is the sample preparation technique and method used for the sampling of the mineral samples.	• No drilling results reported. For information pertaining to the four diamond holes drilled by Saturn Metals in 2021 and mentioned in the body of the report, please see the Saturn Metals (ASX:STN) announcement "Saturn Metals Limited ASX Announcement 27 October 2021 "Exploration Update - Maiden Drill Program West Wyalong Joint Venture".

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XPEDRA

Records Center

Criteria	JORC Code explanation	Commentary
	• Whether sample sizes are appropriate to the grain size of the material being sampled.
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.	• Historic mines records relied on. No verification can be made as to accuracy of measurement and methods of assay.
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.	• Short tonnes have been converted to metric tonnes using a conversion factor of 0.907185
• Historic mines records relied on. No verification can be made as to accuracy of measurement and methods of assay.
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.	• Locations of historic maps and shafts verified in the field during a site visit in July 2019 by Saturn Geologists, with a site visit also completed in March 2025 by Xpedra and Saturn geologists.
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.	• Historic mining production records suggest continuity.
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.	• Orientation defined by historic mining records. No drilling reported.
Sample security	• The measures taken to ensure sample security.	• Not applicable. Relies on NSW Government defined historic production records.
Audits or reviews	• The results of any audits or reviews of sampling techniques and data.	• The competent person independently reviewed source information on the NSW MinView Website.

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XPEDRA
Pervasive Careers

Section 2 Reporting of Exploration Results

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

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 information presented lies within NSW EL8815 which is wholly owned by Weddarrla Pty Ltd which is a contractual agreement with Dr Angus Colins for 50% ownership. Joint venture arrangements between Saturn Metals Limited and its wholly owned subsidiary Titan Metals Pty Ltd
• The tenement is in good standing and no known impediments exist in the area of immediate focus for exploration (vacant crown land).
• A number of limited areas within the license area are either excluded or may require negotiation to access for exploration and can be broadly classified into six categories listed: Mining Reserves; Native Title possibly Determined - or Vested in the West Wyalong Local Aboriginal Land Council (LALC); Cultural Heritage Site; South West Woodland Reserve; Built Up Areas; Fossicking Districts.

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XPEDRA
PEDRO AIR CONSULT

Criteria	JORC Code explanation	Commentary
Exploration done by other parties	• Acknowledgment and appraisal of exploration by other parties.	• Saturn Metals completed four deep diamond holes on the project in 2021, These holes confirmed the extension of the mineralized structure at depth.
• Golden Cross Pty Ltd undertook limited drilling exploration in the hanging-wall to the Mallee Bull Reef in the mid 1990's. From analysis of publicly available data on NSW web-based sources the drilling failed to intersect the main target. Efforts are being made to verify historically recorded collar positions on the ground.
• Historic exploration seems to have been driven largely by mine development in the late 1800's and early 1900's.
• A detailed appraisal of all historical exploration completed on the project is yet to be completed by company geologists. An extensive geological database has been provided by the vendor and will be subject to detailed review as a next step.
Geology	• Deposit type, geological setting and style of mineralisation.	• EL8815 straddles the regional Gilmore Suture, a major crustal structure separating the Wagga-Omeo structural zone to the west from the Parkes zone to the east. At West Wyalong the Gilmore Suture is characterised by a sharp change in strike from northwest (south of West Wyalong) to northeast (north of West Wyalong). The tenement is underlain by the late Silurian to early Devonian Wyalong Granodiorite.
The numerous known historical gold mines within the West Wyalong Goldfield were predominantly associated with multiple northeast trending and southeasterly dipping quartz vein horizons hosted within the Wyalong Granodiorite. The Gidginbung Magnetic Complex lies to the east of the Wyalong Granodiorite and consists of a complex zone of basic to ultrabasic intrusives, volcanics and metasediments believed to be in faulted contact with the Wyalong Granodiorite. The Complex probably lies east of the eastern boundary of EL 8815. Below the base of oxidation, the quartz vein hosted gold mineralization is associated with pyrite; in some areas, minor galena, sphalerite and chalcopyrite have been recorded. Very high-grade gold was, in places, associated with massive pyrite.
• Little is known about the Hiawatha Goldfield (also within EL8815) located some 10km north of West Wyalong (Figure 3). The 20 historical mines within this goldfield, located on eight east-west striking veins were shallow, the maximum recorded depth being about 37m.
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.	• Diagrammatic and geographical representation of historic mining records provided in the main body of the text.
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	• No top-cuts have been applied.
• No metal equivalent values are used for reporting exploration results.
• Reliance on publicly available historic mining records.

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XPEDRA

Resources Limited

Criteria	JORC Code explanation	Commentary
	stated.
Relationship between mineralisation and with width 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.).	• True widths where quoted have been derived from historic mining records in publicly available data.
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.	• See diagrams included.
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.	• All mining records are reported. Long section in Figure 1 in the main body of the text illustrates variation in grades across the deposit.
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.	• See release details.
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 work will include:
• A full review and interpretation of historical data;
• 3D modelling of drilling and geophysical data;
• Ground reconnaissance, soil sampling, and geological mapping;
• Aircore, Diamond and RC drilling (after appropriate consultation,
	the analysis of the millivolt)	material and geophysical data)

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XPEDRA
Resources Limited

| | future drilling areas, provided this information is not commercially sensitive. | and permitting), and;
• Subsequent metallurgical testing to assess the exploration potential of the deposit (see main body of text). |
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