YANDAL RESOURCES LIMITED — Capital/Financing Update 2021

Nov 30, 2021

ASX Announcement 1 December 2021

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High-Grade Depth Extension Confirmed at Star of Gordon Prospect

RC drilling at the Star of Gordon prospect has confirmed high-grade gold mineralisation at vertical depths beneath 160m

• Results have been received from RC drilling at a number of high-priority gold prospects within the Gordons gold project near Kalgoorlie in Western Australia, highlights include

– Star of Gordon Prospect RC drilling

• ➢ 1m @ 19.8g/t Au from 159m (YRLRC668) located ~200m directly down dip from an earlier RC intercept of 10m @ 8.4g/t Au from 43m including 1m @ 52.5g/t Au (YRLRC630)[1]

• ➢ Mineralisation is open in all directions

• ➢ Infill and extensional RC drilling in the discovery area is ongoing with 22 holes completed – results pending

• ➢ Diamond drilling planned to commence in December

– Andrews Prospect RC drilling

• ➢ 40m @ 0.4g/t Au from 64m including 4m @ 2.4g/t Au (YRLRC670 – 4m composite assay)

• ➢ 16 RC holes completed with results pending

– Bradman Prospect RC drilling

• ➢ 11m @ 2.0g/t Au from 257m including 3m @ 5.8g/t Au from 261m (YRLRC646)[1]

• ➢ Two RC holes completed with results pending

• ➢ Diamond drilling planned to commence in December.

Yandal Resources’ Managing Director; Mr Lorry Hughes commented:

“The 20g/t Au intercept located over 200m down dip from a 52g/t Au intercept elevates the prospectivity of the Star of Gordon prospect considerably. After the initial discovery intercept we completed three vertical reconnaissance holes and have confirmed that high-grade mineralisation is open at depth.

Initial infill and extensional RC drilling is complete and the first diamond holes to examine the structural controls to the mineralisation are planned to commence shortly. The prospect is situated directly along strike from the Gordon Sirdar underground gold mine which is currently operating at depths exceeding 600m. We believe there is excellent potential to expand the Star of Gordon mineralisation along strike and down dip”.

1 Refer to YRL ASX announcement dated 28 September 2021.

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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 Lorry Hughes Managing Director/CEO Katina Law Non-Executive Director Tim Kennedy Chairman Bianca Taveira Company Secretary T +61 8 9389 9021 E yandal@yandalresources.com.au W www.yandalresources.com.au	Gold Projects Ironstone Well(100% owned) Barwidgee(100% owned) Mt McClure(100% owned) Gordons(100% owned) Shares on Issue 103,088,135 Share Price $0.38 Market Cap $40M ASX Code YRL

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Yandal Resources Ltd (ASX: YRL , “Yandal Resources” or the “Company”) is pleased to provide an update on exploration activities at the 100%-owned Gordons gold project in Western Australia (Figure 1).

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Figure 1 – Yandal Resources’ gold project locations.

Star of Gordon Prospect

The prospect is located 2km directly NNW along strike from the Gordon Sirdar underground gold mine which is owned and operated by FMR Investments Pty Ltd (“FMR”) (Figure 4). FMR are currently mining ~60,000t of ore per month using conventional underground mining methods and transporting the ore via road haulage for processing at their mill in Coolgardie.

Individual 1m fire-assay results have been received from three vertical reverse circulation (“RC”) holes completed to provide an initial test for continuity of mineralisation down dip from earlier high-grade RC intercepts (Figures 2 & 3). Hole YRLRC0668 returned a highly encouraging downhole intercept of;

• ➢ 1m @ 19.8g/t Au from 159m (YRLRC668)

The result is considered to be highly significant as it demonstrates the potential for high-grade mineralisation to extend for over 250m down dip from surface. Hole YRLRC0669 drilled 50m to the SE on an adjacent section also intercepted the mineralised zone with results including;

• ➢ 6m @ 0.1g/t Au from 169m ➢ 1m @ 0.2g/t Au from 179m at end-of-hole (YRLRC669)

It is interpreted that hole YRLRC0669 may not have been drilled deep enough and intersected the top of the target mineralisation zone as it is likely the mineralisation is influenced by faults, porphyry intrusive units or a plunge component offsetting its location.

1 Refer to YRL ASX announcement dated 28 September 2021.

ASX Announcement 1 December 2021

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A A’
45m @ 2.0g/t Au (18m) [1] incl.
-10m @ 8.4g/t Au (43m)
-2m @ 35.3g/t Au (50m)
-1m @ 18.0g/t Au (50m)
-1m @ 52.5g/t Au (51m)
8m @ 4.7g/t Au (15m) [1] incl.
-6m @ 5.9g/t Au (15m)
-2m @ 10.2g/t Au (19m)
-1m @ 13.3g/t Au (19m)
Assays
Pending
10m @ 2.5g/t Au (27m) [1] incl.
-1m @ 4.4g/t Au (31m)
-2m @ 6.9g/t Au (34m)
-1m @ 8.6g/t Au (35m)
-2m @ 2.5g/t Au (41m)
>200m
down dip
5m @ 1.3g/t Au (27m) [2] incl.
-1m @ 2.6g/t Au (30m) extent
9m @ 1.8g/t Au (47m) incl.
-1m @ 9.6g/t Au (51m) Open
1m @ 0.2g/t Au (154m)
1m @ 19.8g/t Au (159m)
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Figure 2 – Schematic cross section plan of the Star of Gordon gold prospect showing holes 50m either side of the section line (refer Figure 3 for location).

In addition field duplicate resampling of the very high-grade mineralisation within the interval 10m @ 8.4g/t Au from YRLRC0630[1] returned consistent results confirming the very high-grades from 50-52m including results up to 75.0g/t Au (Table 1).

Four-metre composite assays from sampling outside the 1m sampled intervals (164-180m YRLRC0667, 140-168m YRLRC0668 and 156-180m YRLRC0669) returned low-level results with only one exceeding 100ppb Au (Table 1). A number of intervals have been selected for individual 1m sampling to assist with interpretation of the mineralisation zones going forward.

Infill and extensional RC drilling is underway with 22 holes for 2,919m completed as part of an ongoing program. Further reconnaissance holes are planned along strike particularly to the north for 2-3km toward the Marsh prospect once all statutory approvals to drill are in place (Figure 4).

The gold mineralisation zone encountered dips shallowly to the east and occurs within sheared basaltic rocks which have been intruded by dolerite and porphyry rocks. Gold is observed to be associated with quartz veins and higher grades are associated with higher vein density. Sulphide minerals present include up to 5% pyrite with traces of arsenopyrite and some fuchsite also noted.

Diamond drilling is planned to commence in December and will aim to provide detailed geological and structural information in the known mineralisation area to improve the understanding of the controls to highgrades and generate new targets.

1 Refer to YRL ASX announcement dated 28 September 2021, 2 Refer to YRL ASX announcement dated 11 November 2021.

ASX Announcement 1 December 2021

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OPEN ALONG YRLRC0668
STRIKE 1m @ 0.2g/t Au (154m)
1m @ 19.8g/t Au (159m)
OPEN
DOWN DIP
>200m
down dip
extent
YRLRC0630 YRLRC0669
45m @ 2.0g/t Au (18m) incl. [1 ] 2m @ 0.1g/t Au (159m)
-10m @ 8.4g/t Au (43m) 6m @ 0.1g/t Au (169m)
-2m @ 35.3g/t Au (50m) 1m @ 0.2g/t Au (179m – EOH)
-1m @ 18.0g/t Au (50m) A
-1m @ 52.5g/t Au (51m) Figure 2
cross YRLRC0667 [2 ]
section 4m @ 0.1g/t Au (32m)
OPEN ALONG
STRIKE
LANGER
PROSPECT
9m @ 0.4g/t Au (24m) [1] incl.
-1m @ 1.4g/t Au (26m)
20m @ 0.8g/t Au (14m) [1] incl.
-5m @ 2.4g/t Au (21m)
-1m @ 4.7g/t Au (22m)
-1m @ 3.1g/t Au (23m)
2 4m composite assays.
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Figure 3 – Plan view drill collar map for the Star of Gordon prospect coloured by maximum gold grade projected to the drill collar, recent/new downhole intercepts and follow-up holes with assays pending (Refer to Table 1 for all new results).

1 Refer to YRL ASX announcement dated 28 September 2021.

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Inset Map
refer Figure 3
Inset Map
refer Figure 5
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Figure 4 – Location map of key prospects within the Gordons Gold project in relation to nearby operating third party gold mines, project tenure and regional geology.

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Gordons Dam, Malone, Andrews and Bradman Prospects

At the Gordons Dam Prospect (Figures 4, 5 & Table 1) 4m composite assay results have been received from one RC hole which intersected a number of zones of significant mineralisation including;

• ➢ 16m @ 0.2g/t Au from 72m including 4m @ 0.4g/t Au ➢ 20m @ 0.3g/t Au from 148m including 4m @ 0.8g/t Au (YRLRC671).

As part of initial pit optimisation studies and mining approvals an additional 50 shallow RC holes for 4,449m have been completed to infill known mineralisation areas and provide sufficient data for the compilation of an initial Mineral Resource Estimate (“MRE”). The initial MRE is planned for completion in the March Quarter 2022.

Assay results have also been received from diamond hole YRLDD0012 which was drilled to improve the structural understanding of high-grade mineralisation beneath high-grade oxide intercepts. The hole was drilled towards the NE and returned several significant intercepts including;

YRLDD0012

• ➢ 6.15m @ 0.4g/t Au from 103.00m including 0.45m @ 4.0g/t Au

• ➢ 6.00m @ 0.2g/t Au from 136.00m including 1.00m @ 0.8g/t Au

• ➢ 1.30m @ 0.8g/t Au from 150.80m including 0.40m @ 1.1g/t Au

• ➢ 1.50m @ 0.6g/t Au from 200.80m including 0.30m @ 1.9g/t Au

• ➢ 0.50m @ 1.3g/t Au from 209.50m

Further target generation at this prospect will be evaluated upon receival and interpretation of all pending RC results.

At the Malone Prospect (Figures 4, 5 & Table 1) fire-assay results have been received from diamond holes YRLDD0011 and 13 to test for mineralisation interpreted to be related to a contact between felsic and mafic rocks intruded by later stage porphyry rocks. The holes returned some encouraging results including;

YRLDD0011

• ➢ 1.00m @ 0.6g/t Au from 342.00m

• ➢ 1.00m @ 0.6g/t Au from 355.00m

• ➢ 1.00m @ 3.2g/t Au from 375.00m

• ➢ 1.00m @ 1.1g/t Au from 478.00m

• ➢ 0.35m @ 1.3g/t Au from 533.65m

• ➢ 1.40m @ 0.5g/t Au from 610.30 including 0.70m @ 0.9g/t Au

YRLDD0013

• ➢ 0.95m @ 1.1g/t Au from 137.35m including 0.40m @ 1.7g/t Au ➢ 0.90m @ 0.8g/t Au from 150.00m including 0.40m @ 1.4g/t Au

Twenty five RC holes for 3,857m have been completed to test for extensions to mineralisation at depth and along strike from mineralisation related to the Malone felsic-mafic contact – assays pending.

At the Andrews Prospect (Figures 4, 5 & Table 1) located immediately south of Malone, 4m composite assay results have been received from 4 RC holes (558m). The holes have returned some encouraging results including;

➢ 40m @ 0.4g/t Au from 64m including 4m @ 2.4g/t Au (YRLRC670)

Sixteen RC holes for 2,738m have been completed to test for extensions to mineralisation – assays pending.

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YRLRC671 [1 ]
16m @ 0.2g/t Au (72m)
20m @ 0.3g/t Au (148m) incl. GORDONS
-4m @ 0.8g/t Au (148m) DAM
YRLDD012
YRLDD013
YRLDD011
MALONE
ANDREWS
YRLRC670
40m @ 0.4g/t Au (64m) incl.
-8m @ 1.4g/t Au (64m)
-4m @ 2.4g/t Au (64m)
YRLRC0665A & B
YRLRC646
YRLRC0666 11m @ 2.0g/t Au (257m) incl.
-6m @ 3.4g/t Au (256m)
-3m @ 5.8g/t Au (260m)
-1m @ 9.9g/t Au (260m)
BRADMAN
1 4m composite assays.
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Figure 5 – Plan view drilling collar map coloured by maximum gold grade (g/t Au) projected to the drill collar with interpreted geology for the Gordons Dam, Malone, Andrews and Bradman prospects (Refer to Table 1 for all new results).

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At the Bradman Prospect (Figures 4, 5 & Table 1) fire-assay results have been received from one RC hole (314m). The hole returned an excellent intercept at depth including;

• ➢ 11m @ 2.0g/t Au from 257m including 6m @ 3.4g/t Au from 256m and 3m @ 5.8g/t Au from 260m (YRLRC646)

The potential for high-grade mineralisation was confirmed with the highest individual 1m sample returning;

• ➢ 1m @ 9.9g/t Au from 260m (YRLRC646)

Two RC holes for 542m have been completed to test for extensions to mineralisation and diamond drilling is planned to commence in December – assays pending.

Next Steps

Key exploration activities planned during the December and March Quarters include;

• Receive and interpret pending AC, RC and diamond drill assays from the Malone, Gordons Dam, Star of Gordon, Andrews, Bradman, Challenger, Parmelia, Success and HMS Sulphur prospects;

• Commence diamond drilling at the priority Bradman, Star of Gordon and Gordons Dam prospects;

• Compile an open pit MRE and commence pit optimisation studies for the Gordons Dam prospect;

• Commence detailed planning and execution of heritage surveys over key prospect areas within the Ironstone Well and Barwidgee projects including priority areas within, adjacent to and along strike from the Newport, Flushing Meadows, Oblique, Quarter Moon, Flinders Park and Sims Find prospects.

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Table 1 – RC/DD drill collar locations, depth, orientation and down hole assay results - Gordons project.

Hole Id	North (m)	East (m)	Depth (m)	Dip (Deg.)	Azi. (Deg.)	From (m)	To (m)	Interval (m)	Au1 g/t (FA50)	Au2 g/t (FA50)
Star of Gordon Prospect RC Intervals (>0.1g/t Au)
YRLRC0667	6632726	363469	180	-90	360	32	36	4	0.1*
YRLRC0668	6632801	363405	180	-90	360	154	155	1	0.2
						159 160		1 19.2 19.8
YRLRC0669	6632764	363437	180	-90	360	159	161	2	0.1
						169	175	6	0.1
						179 180		1 0.2#
YRLRC06301	6632658	363317	204	-60	240	18 63		45 2.0
						43 53		10 8.4
						50 52		2 35.3
						50 51		1 17.6 18.0
						51 52		1 33.4 52.5
				Field duplicates		50 51		1 52.02 **58.52 **
				Field duplicates		51 52		1 51.02 **75.02 **
Gordons Dam Prospect RC Intervals(>0.1g/t Au)
YRLRC0671	6633749	359670	204	-60	220	72 88		16 0.2*
				including		76 80		4 0.4 0.4**
						148 168		20 0.3*
				including		148 152		4 0.8 0.8**
Gordons Dam Prospect Diamond Intervals(>0.1g/t Au)
YRLDD0012	6633613	359689	261.50	-60	40	0	40.60	Not assayed
						63.00	65.00	2.00	0.2
						85.00	85.50	0.50	0.2
						89.30	89.70	0.40	0.1
						103.00 109.15		6.15 0.4
				including		108.70 109.15		0.45 4.0 3.5
						115.50	122.00	6.50	0.2
						128.00 134.00		6.00 0.2
				including		129.60 130.00		0.40 0.5 0.6
						136.00 142.00		6.00 0.2
				including		141.00 142.00		1.00 0.8 0.8
						150.80 162.00		11.20 0.3
				including		150.80 152.10		1.30 0.8
				including		150.80 151.20		0.40 1.1 1.3
						170.00 170.65		0.65 0.5 0.4
						173.00	173.60	0.60	0.1
						175.00	176.00	1.00	0.1
						178.40	181.00	2.60	0.3
						184.00	184.70	0.70	0.1
						187.35	190.00	2.65	0.1
						194.80	195.10	0.30	0.2
						198.00 205.60		7.60 0.2
				including		200.80 202.30		1.50 0.6
				including		202.00 202.30		0.30 1.8 1.9
						209.50 210.00		0.50 1.2 1.3

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Hole Id	North (m)	East (m)	Depth (m)	Dip (Deg.)	Azi. (Deg.)	From (m)	To (m)	Interval (m)	Au1 g/t (FA50)	Au2 g/t (FA50)
						213.70	214.02	0.32	0.3	0.3
Malone Prospect Diamond Intervals (>0.1g/t Au)
YRLDD0011	6633095	359489	814.30	-60	220	0	71.50	Not assayed
						88.00	89.00	1.00	0.1
						96.00 97.00		1.00 0.4 0.5
						130.70	131.10	0.40	0.2
						141.00	142.00	1.00	0.4
						150.70	151.00	0.30	0.1
						180.70	181.35	0.65	0.2
						190.30	341.00	Not assayed
						342.00 343.00		1.00 0.6
						349.50	350.40	0.90	0.3
						353.00	353.70	0.70	0.4
						355.00 356.00		1.00 0.6
						360.00	361.00	1.00	0.1
						370.00	371.00	1.00	0.2
						375.00 376.00		1.00 3.2 3.3
						378.00	379.00	1.00	0.1
						380.00	380.60	0.60	0.1
						400.25	400.90	0.65	0.4	0.4
						403.45	403.90	0.45	0.3
						412.60	413.20	0.60	0.2
						460.00	460.50	0.50	0.1
						478.00 479.00		1.00 1.1
						525.00	526.00	1.00	0.1
						533.10 535.00		1.90 0.3
				including		533.65 534.00		0.35 1.2 1.3
						567.35	568.00	0.65	0.1	0.1
						594.00	595.00	1.00	0.1	0.2
						610.30 611.70		1.40 0.5
				including		611.00 611.70		0.70 0.8 0.9
						613.50	614.00	0.50	0.2	0.2
						629.00	630.00	1.00	0.2
						634.35	634.75	0.40	0.1
						662.00	662.70	0.70	0.1
						720.45	721.00	0.55	0.1
						745.00	746.80	1.80	0.3
						750.80	751.10	0.30	0.1
YRLDD0013	6632926	359107	305.50	-60	220	79.00	82.00	3.00	0.3
						88.00 89.20		1.20 0.5 0.5
						96.80 97.50		0.70 0.7 0.7
						116.00	116.70	0.70	0.1
						137.35 138.30		0.95 1.1
				including		137.90 138.30		0.40 1.7
						140.30	141.00	0.70	0.2
						150.00 150.90		0.90 0.8

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Hole Id	North (m)	East (m)	Depth (m)	Dip (Deg.)	Azi. (Deg.)	From (m)	To (m)	Interval (m)	Au1 g/t (FA50)	Au2 g/t (FA50)
				including		150.00 150.40		0.40 1.3 1.4
						162.50	162.80	0.30	0.1
						181.00	183.00	2.00	0.1
Andrews Prospect RC Intervals (>0.1g/t Au)
YRLRC0665A	6631178	360097	84.0	-60	250	60	64	4	0.1*
YRLRC0665B	6631178	360097	168.0	-60	250			NSA>0.1g/t Au
YRLRC0666	6630789	360198	156.0	-60	250	68	76	8	0.2*
YRLRC0670	6631834	359562	150.0	-60	250	64 104		40 0.4*
				including		64 72		8 1.4*
				including		64 68		4 2.4 2.3**
Bradman Prospect RC Intervals(>0.1g/t Au)
YRLRC0646	6630599	360262	314	-90	360	53	57	4	0.1
						81	84	3	0.2
						92	105	13	0.1
						110	112	1	0.4
						142	144	2	0.3
						181	187	6	0.1
						242	243	1	0.1
						250	251	1	0.1
						257 268		11 2.0
				including		256 263		6 3.4
				including		260 263		3 5.8
				including		260 261		1 9.2 9.9
						284 286		2 0.9
				including		284 285		1 1.4 1.5

Notes to Tables 1-3 ; 1. An accurate dip and strike and the controls on mineralisation are only interpreted and the true width of mineralisation is unknown at this stage. 2. For AC and RC drilling, 4m composite samples are submitted are analysed using a 50g Aqua Regia digest with Flame AAS gold finish (0.01ppm detection limit), for DD drilling samples are analysed using a 50g fire assay with ICP-MS finish gold analysis (0.01ppm detection limit) by Aurum Laboratories in Beckenham, Western Australia. 3. Au1 is the original assay, Au2 is the highest grade from duplicate or repeat samples if they have been completed. 4. g/t (grams per tonne). 5. Intersections are calculated over intervals >0.10g/t or as indicated. 6. Drill type AC = Air-core, RC = Reverse Circulation, DD = Diamond. 7. Coordinates are in GDA94, MGA Z51. 8. # denotes an end of hole assay . 9. ABD denotes hole abandoned before target depth. 10. NSA denotes no significant assay. 11. * denotes a 4m composite assay unless otherwise indicated.

1 Refer to YRL ASX announcement dated 28 September 2021. 2 Riffle split field duplicates taken to confirm original results.

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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			Inferred			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 Australasian 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’.

Authorised by the board of Yandal Resources

For further information please contact:

Lorry Hughes Bianca Taveira Managing Director Company Secretary Yandal Resources Limited +61 8 9389 9021 yandal@yandalresources.com.au yandal@yandalresources.com.au

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Appendix 1 – Gordons Gold Project JORC Code (2012) Table 1, Section 1 and 2

Mr Trevor Saul, Exploration Manager of Yandal Resources compiled the information in Section 1 and Section 2 of the following JORC Table 1 and is the Competent Person for those sections. The following Table and Sections are provided to ensure compliance with the JORC Code (2012 edition) requirements for the reporting of Mineral Resources.

Section 1 Sampling Techniques and Data

Criteria	JORC Code explanation	Commentary	Commentary
Sampling	Nature and quality of sampling (e.g. cut channels, random chips,	•	4m composite samples taken with a sample scoop thrust into the RC sample bag which is laid out in
techniques	or specific specialised industry standard measurement tools		individual metres in a plastic bag on the ground. 1m single splits taken using a cone splitter at time of
	appropriate to the minerals under investigation, such as down		drilling, if 4m composites are anomalous (>100-200ppb or lower depending on location), 1m single splits
	hole gamma sondes, or handheld XRF instruments, etc.). These		are submitted for analyses. Average sample weights about 3.0kg for 4m composites and 2.0-3.0kg for
	examples should not be taken as limiting the broad meaning of		1m samples.
	sampling.	•	For AC drilling samples laid out on the ground and sampled as above. Average weights are 2.0-3.0kg
			for composites and 3.0-4.0kg for singles.
		•	For diamond drilling (“DD”)HQor NQis cut in half and assayed.
	Include reference to measures taken to ensure sample	•	For RC and AC drilling regular air and manual cleaning of cyclone to remove hung up clays where
	representivity and the appropriate calibration of any		present. For all drilling methods, regular standards are submitted during composite analysis and
	measurement tools or systems used.		standards, blanks and duplicates for 1m samples. Based on statistical analysis and cross checks of
			these results, there is no evidence to suggest the samples are not representative. Standards & replicate
			assays takenby thelaboratory.
	Aspects of the determination of mineralisation that are Material	•	AC, RC and DD drilling was used to obtain 1m samples (or smaller in the case of DD) from which
	to the Public Report. In cases where ‘industry standard’ work		approximately 2.0-3.0kg sample was pulverised to produce a 50g Aqua Regia digest with Flame AAS
	has been done this would be relatively simple (e.g. ‘reverse		gold finish (0.01ppm detection limit) for AC samples and a 50g fire assay with ICP-MS (inductively
	circulation drilling was used to obtain 1 m samples from which 3		coupled plasma - mass spectrometry) finish gold analysis (0.01ppm detection limit) for RC/DD samples
	kg was pulverised to produce a 30 g charge for fire assay’). In		by Aurum Laboratories in Beckenham, Western Australia. Samples assayed for Au, As, Cu, Pb, Zn and
	other cases more explanation may be required, such as where		Ag for AC composites and Au only for RC and DD. Drilling intersected oxide, transitional and primary
	there is coarse gold that has inherent sampling problems.		mineralisation to a maximum drill depth below 250m.
	Unusual commodities or mineralisation types (e.g. submarine
	nodules) may warrant disclosure of detailed information.
Drilling	Drill type (e.g. core, reverse circulation, open-hole hammer,	•	RC drilling with a 4’ ½ inch face sampling hammer bit. AC drilling used a 3’ ½ inch blade bit. DD drilling
techniques	rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core		used a roller bit down to hard then HQ and NQ sized rods.
	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 core and chip sample	•	RC and AC recovery and meterage was assessed by comparing drill chip volumes or (sample bags for
recovery	recoveries and results assessed.		RC) for individual meters. Estimates of sample recoveries were recorded. Routine checks for correct
	Measures taken to maximise sample recovery and ensure representative nature of the samples.	•	sample depths are undertaken every RC rod (6m). DD recoveries were estimated by the drillers and written on core blocks. RC sample recoveries were visually checked for recovery, moisture and contamination. The cyclone
	Whether a relationship exists between sample recovery and		was routinely cleaned ensuring no material build up.
	grade and whether sample bias may have occurred due to	•	Due to the generally good/standard drilling conditions and powerful drilling rig the geologist believes the
	preferential loss/gain of fine/coarse material.		RC and AC samples are representative, some bias would occur in the advent of poor sample recovery
			which was logged where rarely encountered. At depth there were some wet samples and these are
			recorded ongeological logs.

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Criteria	JORC Code explanation	Commentary	Commentary
Logging	Whether core and chip samples have been geologically and	•	RC, AC and DD logging is routinely completed on one metre intervals at the rig or yard by the geologist.
	geotechnically logged to a level of detail to support appropriate		The log was made to standard logging descriptive sheets and transferred into Micromine software on a
	Mineral Resource estimation, mining studies and metallurgical		computer once back at the office. Logging was qualitative in nature.
	studies.	•	All intervals logged for AC and RC drilling completed during drill program with a representative sample
	Whether logging is qualitative or quantitative in nature. Core (or		placed into chip trays.
	costean, channel, etc) photography.
	The total length and percentage of the relevant intersections
	logged.
Sub-sampling	If core, whether cut or sawn and whether quarter, half or all core	•	DD, AC and RC samples taken.
techniques	taken.	•	AC and RC samples were collected from the drill rig by spearing each 1m collection bag (RC) or from
and sample preparation	If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.	•	the ground (AC) and compiling a 4m composite sample. Single splits were automatically taken by the rig cone splitter for RC. Wet or dry samples were noted in the logs. For Yandal Resources Ltd samples, duplicate 1m samples were taken in the field, with standards and
	For all sample types, the nature, quality and appropriateness of		blanks inserted with the 1m and 4m samples for analyses.
	the sample preparation technique.	•	1m samples were consistent and weighed approximately 3.0-4.0kg for RC (2.0-3.0kg for AC) and it is
	Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.	•	common practice to review 1m results and then review sampling procedures to suit. Once samples arrived in Perth, further work including duplicates and QC was undertaken at the laboratory. Yandal Resources Ltd has determined that at the Gordons Dam prospect there is sufficient
	Measures taken to ensure that the sampling is representative of		data for a MRE and an initial one is planned upon completion upon receipt of all pending results and
	the in situ material collected, including for instance results for		QA/QC re-sample and re-assay programs (however the deposit is open in many directions).
	field duplicate/second-half sampling.	•	Mineralisation mostly occurs within intensely oxidised saprolitic and palaeochannel clays after altered
	Whether sample sizes are appropriate to the grain size of the material being sampled.		mafic, porphyry and felsic rocks (typical greenstone geology). The sample size is standard practice in the WA Goldfields to ensure representivity.
Quality of	The nature, quality and appropriateness of the assaying and	•	The composite 4m AC samples were assayed using a 50g Aqua Regia digest with Flame AAS gold
assay data	laboratory procedures used and whether the technique is		finish (0.01ppm detection limit) finish Au, Ag, As, Cu, Pb and Zn analysis (0.01ppm detection limit) by
and	considered partial or total.		Aurum Laboratories in Beckenham, Western Australia for gold only. Initial 4m samples were assayed
laboratory tests	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.	• •	by Aqua Regia with fire assay checks (0.01ppm detection limit). RC and DD sampling assayed for Au only. No geophysical assay tools were used. Laboratory QA/QC involves the use of internal lab standards using certified reference material, blanks, splits and replicates as part of the in-house procedures. QC results (blanks, duplicates, standards) were
	Nature of quality control procedures adopted (e.g. standards,		in line with commercial procedures, reproducibility and accuracy. These comparisons were deemed
	blanks, duplicates, external laboratory checks) and whether		satisfactory. Some re-splitting with an onsite three-tier riffle splitter has been undertaken in the
	acceptable levels of accuracy (i.e. lack of bias) and precision		palaeochannel area for analyses from RC samples. A number of samples have been selected for future
	have been established.		metallurgical testing. A number of 1m residues from RC assays are planned to be analysed at other
			laboratories for comparison.
Verification of	The verification of significant intersections by either independent	•	Work was supervised by senior Aurum Laboratory staff experienced in metals assaying. QC data reports
sampling and	or alternative company personnel.		confirming the sample quality have been supplied.
assaying	The use of twinned holes.	• •	Data storage as PDF/XL files on company PC in the Perth office. No data was adjusted.
	Documentation of primary data, data entry procedures, data	•	Significant intercepts are reported in Table 1 by Mr Trevor Saul of Yandal Resources and were
	verification, data storage (physical and electronic) protocols.		generated by compositing to the indicated downhole thickness. A 30ppb Au lower cut-off was used for
			ACresults (0.10g/tAufor RC andDD) andintersections generally calculatedwithamaximumof 2mof

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Criteria	JORC Code explanation	Commentary	Commentary
	Discuss any adjustment to assay data.		internal dilution.
Location of	Accuracy and quality of surveys used to locate drill holes (collar	•	All drill collar locations were initially pegged and surveyed using a hand held Garmin GPS, accurate to
data points	and down-hole surveys), trenches, mine workings and other		within 3-5m. Holes were drilled at various spacings dependent on prospect assessment. All reported
	locations used in Mineral Resource estimation.		coordinates are referenced to the GDA. The topography is very flat at the location of the Gordons Dam
	Specification of the grid system used.		prospect. Down hole surveys utilised a proshot camera at the end of hole plus every 30m while pulling out of the hole.
	Quality and adequacy of topographic control.	•	Grid MGA94 Zone 51.
		•	Topography is very flat, small differences in elevation between drill holes will have little effect on
			mineralisation widths on initial interpretation. All new holes and some available historic holes have been
			surveyed by DGPS as well as a surveyed topographical surface for compilation of MRE’s. The
			topographic surface has been generated by using the hole collar surveys. It is considered to be of
			sufficient quality to bevalidforthis stage ofexploration.
Data spacing	Data spacing for reporting of Exploration Results.	•	Holes were variably spaced in accordance with the collar details/coordinates supplied in Table 1.
and distribution	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.	•	The hole spacing was determined by the Company to be sufficient when combined with confirmed historic drilling results to explore effectively. The sample spacing and the appropriateness of each hole to be included to make up data points for a Mineral Resource has not been determined. It will depend on results from all the drilling and geological interpretations when complete.
	Whether sample compositing has been applied.
Orientation of	Whether the orientation of sampling achieves unbiased	•	No, drilling angle or vertical holes is deemed to be appropriate to intersect the supergene mineralisation
data in	sampling of possible structures and the extent to which this is		and potential residual dipping structures and is appropriate for the current stage of the prospects. At
relation to	known, considering the deposit type.		depth angle holes have been used to intersect the interpreted dipping lodes. True widths are often
geological structure	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.	• •	calculated depending upon the geometry. The relationship between the drilling orientation and the orientation of mineralised structures is not considered to have introduced a sampling bias. Given the style of mineralisation and drill spacing/method, it is the most common routine for delineating shallow gold resources in Australia. Angle holes are the most appropriate for exploration style and Resource style drilling for the type and
			locationof mineralisation intersected.
Sample	The measures taken to ensure sample security.	•	Samples were collected on site under supervision of the responsible geologist. The work site is on a
security			pastoral station. Once collected samples were wrapped and transported to Perth for analysis. Dispatch
			and consignment notes were delivered and checked for discrepancies.
		•	Sample security for historical samples was highly variable and dependent on the exploration company
			however most of the companies working in the area are considered leaders in improving the sample
			security, QAQC procedures and explorationprocedures.
Audits or	The results of any audits or reviews of sampling techniques and	•	No Audits have been commissioned.
reviews	data.

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Section 2 Reporting of Exploration Results

Criteria		JORC Code explanation	Commentary	Commentary
Mineral		Type, reference name/number, location and ownership	•	The new drilling was conducted on the following tenements;
tenement and		including agreements or material issues with third parties such		Gordons Project – M27/502, P27/2214, P27/2338, P27/2339, E27/601 and E27/570.
land	tenure	as joint ventures, partnerships, overriding royalties, native title		The tenements are 100% owned by the Company. The tenements are in good standing and no known
status		interests, historical sites, wilderness or national park and		impediments exist.
		environmental settings.		E27/570 is subject to a Net Smelter Royalty (“NSR”) of 2%, being payable to PVW Resources Ltd on all
		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.		product mined from the tenement. Tenements E24/198, P27/2206, E27/536, M27/237 (“Mulgarrie North Tenements”) and E27/601, P27/2325, P27/2331, P27/2340-41, P27/2355-64 are subject to Heads of Agreement announced on 11 November 2021 with Moho Resources Ltd (“Moho”). Should the deal be executed in full, Moho will own
				!00% of the Ni-Cu-Co-PGE minerals produced and Yandal will retain a 100% interest in the gold and
				relatedmetals and a1%NSRontheNi-Cu-Co-PGE minerals produced.
Exploration		Acknowledgment and appraisal of exploration by other parties.	•	Previous workers in the area include among others, North Ltd, Delta Gold Ltd, Aurion Gold Ltd, Placer
done by other				Dome Asia Pacific, Barminco Investments, Mt Kersey Mining NL, Gutnick Resources NL, Pacific Arc
parties				Exploration, Geopeko, Flinders Resources Ltd, Kesli Chemicals Pty Ltd and Windsor Resources NL.
Geology		Deposit type, geological setting and style of mineralisation.	•	Archaean Orogenic Gold mineralisation hosted within the Boorara domain of the Kalgoorlie Terrane
				within the Norseman-Wiluna Archaean greenstone belt. The granite-greenstone belt is approximately
				600 km long and is characterised by very thick, possibly rift controlled accumulations of ultramafic, mafic
				and felsic volcanics, intrusive and sedimentary rocks. It is one of the granite / greenstone terrains of the
				YilgarnCratonof WA.
Drill hole		A summary of all information material to the understanding of	•	See Table 1.
Information		the exploration results including a tabulation of the following	•	All holes reported from the current program are listed in Table 1 or can be viewed in Yandal’s other ASX
		information for all Material drill holes:		releases during 2019-2021.
		• easting and northing of the drill hole collar • elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar • dip and azimuth of the hole • down hole length and interception depth	• •	Other hole collars in the immediate area of the Gordons Dam prospect have been included for diagrammatic purposes and Mr Saul considers listing all of the drilling details is prohibitive and would not improve transparency or materiality of the report. Plan view diagrams are shown in the report of all drilling collars in close proximity to the new drilling for exploration context in Figures 2-5. No information is excluded.
		• hole length.
		If the exclusion of this information is justified on the basis that
		the information is not Material and this exclusion does not
		detract from the understanding of the report, the Competent
		Person should clearly explain why this is the case.
Data		In reporting Exploration Results, weighting averaging	•	No weighting or averaging calculations were made, assays reported and compiled are as tabulated in
aggregation		techniques, maximum and/or minimum grade truncations (e.g.		Table 1.
methods		cutting of high grades) and cut-off grades are usually Material	•	All assay intervals reported in Table 1 are typically 1m downhole intervals above 0.10g/t Au lower cut-
		and should be stated.		off for RC/DD drilling (interval width as indicated for DD drilling). For AC drilling the interval is composited
		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	•	downhole interval as indicated above a 30ppb Au lower cut-off. There is occasionally small samples such as 1m or 2m when the hole was completed to depth that was not a multiple of 4 for AC drilling. No metal equivalent calculations were applied.
		some typical examples of such aggregations should be shown
		in detail.

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Criteria	JORC Code explanation	Commentary	Commentary
	The assumptions used for any reporting of metal equivalent
	values should be clearly stated.
Relationship	These relationships are particularly important in the reporting of	•	Oxide and Transitional mineralisation is generally flat lying (blanket like) while mineralisation at depth
between	Exploration Results.		is generally steeper dipping. Further orientation studies are required.
mineralisatio n widths and intercept	If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.	•	Drill intercepts and true width appear to be close to each other, or within reason allowing for the minimum intercept width of 1m. Yandal Resources Ltd estimates that the true width is variable but probably around 80-100% of the intercepted widths.
lengths	If it is not known and only the down hole lengths are reported,	•	Given the nature of AC and RC drilling, the minimum width and assay is 1m.
	there should be a clear statement to this effect (e.g. ‘down hole	•	Given the highly variable geology and mineralisation including supergene mineralisation and
	length, true width not known’).		structurally hosted gold mineralisation there is no project wide relationship between the widths and
			intercept lengths.
Diagrams	Appropriate maps and sections (with scales) and tabulations of	•	See Figures 2-5 and Table 1.
	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 all Exploration Results is not	•	Summary results for all holes as 4m AC assays > 0.1g/t Au are shown in Table 1, all holes as 1m or
reporting	practicable, representative reporting of both low and high grades		less RC/DD assays > 0.10g/t Au for the current drilling.
	and/or widths should be practiced to avoid misleading reporting	•	Diagrammatic results are shown in Figures 2-5.
	of Exploration Results.
Other	Other exploration data, if meaningful and material, should be	•	There have been no historical Mineral Resource Estimates.
substantive	reported including (but not limited to): geological observations;	•	There has been no historic mining at the Gordons Dam or Malone prospects as they are new
exploration	geophysical survey results; geochemical survey results; bulk		discoveries. There has been minor historic (early 1900’s) underground workings on a number of lodes
data	samples – size and method of treatment; metallurgical test		in proximity to the Star of Gordon prospect.
	results; bulk density, groundwater, geotechnical and rock
	characteristics; potential deleterious or contaminating
	substances.
Further work	The nature and scale of planned further work (e.g. tests for	•	Additional exploration including AC, RC and DD drilling and or geophysical surveys to advance known
	lateral extensions or depth extensions or large-scale step-out		prospects is warranted. Additional exploration drilling is likely if new programs can be approved by the
	drilling).		Company.
	Diagrams clearly highlighting the areas of possible extensions,
	including the main geological interpretations and future drilling
	areas, provided this information is not commercially sensitive.

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