YANDAL RESOURCES LIMITED — Board/Management Information 2021

Feb 16, 2021

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ASX Announcement

17 February 2021

Yandal Appoints Highly Experienced Resources Director

Yandal Resources Ltd (ASX: YRL , “Yandal” or the “Company”) is very pleased to announce the appointment of highly experienced exploration executive, Mr Tim Kennedy, as a Non-Executive Director of the Company.

Mr Kennedy is a geologist with more than 35 years’ resources industry experience, including extensive involvement in the exploration, discovery and development of large scale gold deposits in Western Australia.

His most recent managerial role was as Exploration Manager with Independence Group NL (ASX: IGO), which during his 11 year tenure grew from being a junior explorer to a multi-asset and multi-commodity mining company. In particular Mr Kennedy played a key role as part of the team during the discovery of the multi-million ounce Tropicana and Bibra gold deposits, the Rosie nickel sulphide deposit and the Triumph base metal deposit.

Prior to that Mr Kennedy held several senior positions with global diversified miner, Anglo American plc (LON: AAL), including as Exploration Manager (Australia) and has also held senior technical positions with Resolute Mining Ltd (ASX: RSG), Hunter Resources and PNC Exploration.

Mr Kennedy currently serves as the Non-Executive Chairman of Sipa Resources Ltd (ASX: SRI) and as a Non-Executive Director of Helix Resources Ltd (ASX: HLX).

Yandal Resources’ Managing Director; Mr Lorry Hughes commented:

“The specialist skills and experience Tim has will be invaluable as Yandal enters the next phase of growth. We have highly prospective projects that have the potential to host multi-million ounce gold discoveries and Tim will help us uncover that value.

“The new appointment will see us focus increasingly on exploration targeting whilst meeting the highest standards of environmental, social and corporate governance.”

This appointment coincides with the resignation of Mrs Kelly Ross as a non-executive director of Yandal.

The Board of Yandal wishes to acknowledge her valuable contribution as a founding director of the Company. Mrs Ross helped steer the Company through the ASX listing process in 2018 and has provided excellent corporate leadership during a very successful two year period.

The Board takes this opportunity to thank Mrs Ross for her time and guidance during her tenure and wishes her the best in her future endeavours.

This announcement is authorised for release by the Board.

For further information please contact:

Bianca Taveira Company Secretary +61 8 9389 9021 yandal@yandalresources.com.au

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Registered Address

Yandal Resources Limited ACN 108 753 608 ABN 86 108 753 608

A 159 Stirling Highway Nedlands WA 6009 P PO Box 1104 Nedlands WA 6909

Board Members Gold Projects Lorry Hughes Managing Director/CEO Ironstone Well (100% owned) Katina Law Chair Barwidgee (100% owned) Kelly Ross Non-Executive Director Mt McClure (100% owned) Bianca Taveira Company Secretary Gordons (100% owned) Shares on Issue 93,438,667 T +61 8 9389 9021 Share Price $0.41 E yandal@yandalresources.com.au Market Cap $38M W www.yandalresources.com.au ASX Code YRL

About Yandal Resources Limited

Yandal Resources listed on the ASX in December 2018 and has a portfolio of advanced gold exploration projects in the highly prospective Yandal and Norseman-Wiluna Greenstone Belts of Western Australia.

Yandal Resources’ Board has a track record of successful discovery, mine development and production.

November 2020 Mineral Resource Estimate Summary Table – Flushing Meadows Gold Deposit

Material Type	Indicated	Indicated		I	nferred			Total
	Tonnes	Au(g/t)	Oz	Tonnes	Au(g/t)	Oz	Tonnes	Au(g/t)	Oz
Laterite	89,853	1.26	3,631	86,671	1.23	3,422	176,524	1.24	7,054
Oxide	2,015,900	1.33	86,071	2,246,845	1.10	79,389	4,262,745	1.21	165,420
Transition	35,223	1.20	1,360	1,160,471	1.10	40,966	1,195,695	1.10	42,325
Fresh				1,751,484	0.95	53,440	1,751,484	0.95	53,440
Total	2,140,976	1.32	91,062	5,245,471	1.05	177,217	7,386,448	1.13	268,352

* Reported above 0.5g/t Au lower cut-off grade, refer to Yandal Resources Ltd ASX announcement dated 4 November 2020 for full details.

Competent Person Statement

The information in this document that relates to Exploration Results, geology and data compilation is based on information compiled by Mr Trevor Saul, a Competent Person who is a Member of The Australian Institute of Mining and Metallurgy. Mr Saul is the Exploration Manager for the Company, is a full-time employee and holds shares and options in the Company.

Mr Saul has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Saul consents to the inclusion in this announcement of the matters based on this information in the form and context in which it appears.

The information in this announcement that relates to the Flushing Meadows Mineral Resource Estimate is based on information compiled and generated by Andrew Bewsher, an employee of BM Geological Services Pty Ltd (“BMGS”). Both Andrew Bewsher and BMGS hold shares in the company. BMGS consents to the inclusion, form and context of the relevant information herein as derived from the original resource reports. Mr Bewsher has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which is being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the JORC ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’.

ASX Announcement 17 February 2021