YANDAL RESOURCES LIMITED — Capital/Financing Update 2021

Aug 22, 2021

ASX Announcement 23 August 2021

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High-Grade Extensions at Depth and Along Strike Increase Size Potential at Sims Find

• Reconnaissance RC drilling at the Sims Find gold prospect has returned high-grade intercepts at depth and up to 1.4km north west along strike from known mineralisation. Highlights include;

• ➢ 6m @ 8.97g/t Au from 172m including 1m @ 40.02g/t Au (YRLRC1011)

• ➢ 1m @ 10.25g/t Au from 81m (YRLRC1007)

• High-grade mineralisation has now been intersected over 1.8km along strike, to maximum vertical depths of 250m and is open in all directions

• The results improve the prospectivity of the greater Sims Find area and preparation has commenced for a detailed drone magnetic survey over a 7km by 4km area to assist with new target generation ahead of follow-up RC drilling

• High-impact RC drilling has commenced at the Mt McClure gold project to test for extensions to known mineralisation

Yandal Resources’ Managing Director; Mr Lorry Hughes commented:

“Sims Find is a high-grade system and the new results demonstrate the depth and strike potential could be far greater than we initially thought. The high-grade nuggetty nature of the mineralisation will require us to conduct infill drilling to generate robust estimates on the continuity and grade of the most promising lodes.

Initially we conducted detailed drilling over 400m of strike on 50m spaced lines which returned some spectacular results up to 129g/t Au[1] . This follow-up program was much more widely spaced at 400m along strike and it has returned similar results directly along strike from a limited number of holes.

We interpret the same mineralising system is present within the widely spaced drilling areas as there is in the closer spaced drilling areas. By increasing the density of drilling it is likely we can increase the number of high-grade intercepts.

The controlling structures and features of the Sims Find mineralisation are not well understood and future exploration programs will be directed towards understanding the geological framework of the greater area including the margins to the intrusive granite to the south which is known to host historic mineralisation”.

1 Refer to YRL ASX announcement dated 2 March 2021.

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Registered Address Board Members Gold Projects Yandal Resources Limited Lorry Hughes Managing Director/CEO Ironstone Well (100% owned) ACN 108 753 608 ABN 86 108 753 608 Tim Kennedy Chairman Barwidgee (100% owned) Katina Law Non-Executive Director Mt McClure (100% owned) Bianca Taveira Company Secretary Gordons (100% owned) A 159 Stirling Highway Shares on Issue 100,439,953 Nedlands WA 6009 T +61 8 9389 9021 Share Price $0.51 P PO Box 1104 E yandal@yandalresources.com.au Market Cap $52M Nedlands WA 6909 W www.yandalresources.com.au 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 its 100% owned Barwidgee and Mt McClure gold projects in Western Australia (Figure 1).

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Figure 1 – Yandal Resources’ gold project locations.

– Barwidgee Gold Project Sims Find and Cash Prospects

At the Sims Find Prospect results have been received from the final eight reverse circulation (“RC”) drill holes completed in the June Quarter as follow-up to earlier shallow high-grade RC intercepts[1] completed along strike and beneath historic workings (Figures 2-6).

The holes were drilled on three 400m spaced lines north west along strike of the Sims Find historic shallow underground workings and beneath the workings themselves to test for large-scale mineralisation extensions. Several high-grade intervals were returned including;

• ➢ 6m @ 8.97g/t Au from 172m including 1m @ 40.02g/t Au and 1m @ 10.89g/t Au 2m @ 1.49g/t Au from 182m including 1m @ 2.81g/t Au 2m @ 2.21g/t Au from 293m including 1m @ 4.28g/t Au (YRLRC1011)

• ➢ 2m @ 1.07g/t Au from 22m including 1m @ 1.98g/t Au 2m @ 2.86g/t Au from 207m including 1m @ 5.59g/t Au (YRLRC1013)

• ➢ 1m @ 10.25g/t Au from 81m

• 1m @ 1.17g/t Au from 102m (YRLRC1014)

The results are considered to be highly encouraging as the limited drilling has intersected high-grades within a mineralised system extending over 1.8km in strike and to depths exceeding 250m vertically (Figures 3-4). All new results are listed in Table 1.

1 Refer to YRL ASX announcement dated 22 December 2020 , 2 March 2021 and 1 July 2021.

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Abandoned before planned depth
1m @ 0.13g/t Au from 69m
1m @ 10.25g/t Au from 81m
1m @ 1.17g/t Au from 102m
2m @ 1.07g/t Au from 22m incl.
-1m @ 1.98g/t Au from 22m
2m @ 2.86g/t Au from 207m incl.
Multiple low grade intercepts (refer Table 1) -1m @ 5.59g/t Au from 207m
1m @ 0.59g/t Au from 230m
2m @ 0.42g/t Au from 104m incl. YRLRC0432 [1 ]
-1m @ 0.69g/t Au from 104m 2m @ 12.27g/t Au from 23m incl.
-1m @ 24.31g/t Au from 37m 5m @ 0.30g/t Au from 39m incl.
-1m @ 0.52g/t Au from 43m
YRLRC0431 [1 ]
7m @ 3.50g/t Au from 23m incl.
-1m @ 10.33g/t Au from 23m
-1m @ 12.05g/t Au from 26m
-1m @ 7.42g/t Au from 62m
B’ YRLRC0445 [1 ]
5m @ 6.53g/t Au from 17m incl.
-1m @ 30.40g/t Au from 17m
YRLRC1007 [1] 2m @ 2.77g/t Au from 52m incl.
1m @ 2.65g/t Au from 10m -1m @ 4.39g/t Au from 52m
1m @ 2.21g/t Au from 50m
1m @ 4.14g/t Au from 58m A’
6m @ 1.94g/t Au from 124m incl.
-1m @ 4.42g/t Au from 124m
-1m @ 4.69g/t Au from 129m
December Quarter
1m @ 4.95g/t Au from 176m B
2020 RC program [1 ]
YRLRC0447 [1 ]
IP Target NSA
3m @ 20.85g/t Au from 30m incl.
YRLRC01004 [1 ]
-1m @ 60.25g/t Au from 30m A
IP Target NSA
YRLRC01006 [1 ]
1m @ 1.01g/t Au from 5m
6m @ 8.97g/t Au from 172m incl.
-3m @ 17.58g/t Au from 172m
-1m @ 40.02g/t Au from 172m
-1m @ 10.89g/t Au from 174m
2m @ 1.49g/t Au from 182m incl.
-1m @ 4.28g/t Au from 182m YRLRC0457 [1 ]
2m @ 2.21g/t Au from 293m incl. IP Target NSA 13m @ 15.01g/t Au from 6m incl.
-1m @ 4.28g/t Au from 293m YRLRC01002 [1 ] -8m @ 24.30g/t Au from 9m incl.
-5m @ 37.96g/t Au from 12m incl.
-1m @ 129.00g/t Au from 12m
-1m @ 33.34g/t Au from 13m
-1m @ 24.92g/t Au from 16m
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Figure 2 – Sims Find prospect plan showing interpreted geology, selected RC intercepts from the last two programs and the location of schematic cross sections (Figures 3 & 4). Refer Table 1 for all results. The grey text boxes are new results and the white text boxes are previously released results by Yandal Resources.

1 Refer to YRL ASX announcement dated 22 December 2020 , 2 March 2021 and 1 July 2021.

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A A’
Top of Fresh Rock Boundary
2m @ 2.76g/t Au from 53m incl. [1]
-1m @ 5.41g/t Au from 53m [1 ]
1m @ 1.85g/t Au from 23m [1]
4m @ 0.69g/t Au from 26m incl. [1 ] 6m @ 8.97g/t Au from 172m incl.
-1m @ 1.22g/t Au from 28m [1] -3m @ 17.58gt Au from 172m
-1m @ 40.02g/t Au from 172m
-1m @ 10.89g/t Au from 174m
1m @ 4.28g/t Au from 293m
2m @ 2.21g/t Au from 293m incl.
-1m @ 4.28g/t Au from 293m
9m @ 0.85g/t Au from 189m incl. [1 ]
-5m @ 1.32g/t Au from 193m
-2m @ 2.63g/t Au from 195m
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Figure 3 – Sims Find prospect schematic cross section plan (A – A’, refer Figure 2 for location) over interpreted geology, weathering domains and interpreted mineralisation envelops. The grey text boxes are new results and the white text boxes are previously released results by Yandal Resources.

The earlier closer spaced RC drilling returned some spectacular shallow intercepts within multiple quartz veins, sulphides and shears hosted within a dolerite and basalt sequence. Similar geology has been observed within the new holes providing strong encouragement for the identification of additional highgrades with infill and extensional drilling. Highlights from the December Quarter 2020 RC drilling included;

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1 Refer to YRL ASX announcement dated 22 December 2020 , 2 March 2021 and 1 July 2021.

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B B’
3m @ 0.97g/t Au from 10m incl. [1 ]
-1m @ 2.65g/t Au from 10m
Top of Fresh Rock Boundary
2m @ 12.27g/t Au [1] from 37m incl. [1]
-1m @ 24.03g/t Au [1] from 37m
3m @ 2.54g/t Au from 60m incl. [ 1]
-1m @ 7.42g/t Au [1] from 62m
2m @ 1.16g/t Au from 50m incl. [1]
-1m @ 2.21g/t Au from 50m 7m @ 3.50g/t Au [1] from 23m incl. [1]
1m @ 4.14g/t Au from 58m -1m @ 12.05g/t Au [1] from 26m
6m @ 1.94g/t Au from 124m incl. [1]
-1m @ 4.42g/t Au from 124m
-1m @ 4.69g/t Au from 129m
3m @ 1.74g/t Au from 176m incl. [ 1]
-1m @ 4.95gt Au from 176m
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Figure 4 – Sims Find prospect schematic cross section plan (B – B’, refer Figure 2 for location) over interpreted geology, weathering domains and interpreted mineralisation envelopes. Drilling results on this section have all been previously released by Yandal Resources.

A downhole televiewer three-dimensional logging program was conducted on a number of recent holes to assist with the compilation of a robust geological interpretation of the structural aspects controlling the highgrade mineralisation[1] . The logging confirmed a consistent perpendicular to hole axis south westerly dip of the narrow mineralisation zones and will be used for follow-up target generation at depth and along strike.

In light of the encouraging results, to assist with compilation of regional geological interpretation and new exploration targets surrounding the Sims Find prospect, preparation has commenced to complete a detailed drone magnetic survey once approvals are in place.

The survey will extend over a 7km by 4km area, cover possible strike extensions of the Sims Find mineralisation and include the margins of 4km long intrusive granite located only 1km to the south (Figures 5 & 6).

1 Refer to YRL ASX announcement dated 22 December 2020 , 2 March 2021 and 1 July 2021.

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Refer Figure 2
Strike
Extension
Targets
Granite Contact
Targets
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Figure 5 – Sims Find prospect plan showing interpreted regional geology over regional magnetics, RC collars from the last two programs and the area for a proposed detailed drone magnetic survey.

At the Cash Prospect one 304m RC hole was completed beneath historic workings which is located 1.5km north along strike from Northern Star Resources Ltd’s (ASX: NST, or “Northern Star”) Corboys gold deposit (Figure 6). A number of significant intervals were returned from the upper section of the hole including;

• ➢ 2m @ 1.18g/t Au from 26m including 1m @ 1.90g/t Au 3m @ 2.26g/t Au from 56m including 1m @ 4.55g/t Au (YRLRC1016)

Recent RC drilling by Northern Star has returned downhole intercepts including 34m @ 4.0g/t Au[1] , 5m @ 21.1g/t Au[1] and 26m @ 3.4g/t Au[1] . All results from hole YRLRC01016 are tabulated in Table 1 and refer to ASX announcement dated 1 July 2021 for a more detailed location map.

1 Refer to Northern Star Resources Ltd’s ASX announcement dated 3 March 2021.

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Figure 6 – Location map of key prospects within the Ironstone Well and Barwidgee gold projects, project tenure and regional geology.

– Mt McClure Gold Project HMS Sulphur, Success and Parmelia Prospects

The 100% owned Mt McClure project is located 20km via existing haul roads from the Bronzewing processing facility owned by Northern Star and contains three historic open pit mines over a 12km long mineralised trend on granted Mining Leases (Figures 1 & 7).

A high-impact RC program has commenced to follow-up a number of significant results returned from a successful RC program completed in the March Quarter[1] . A total of 26 angled RC holes were completed at the HMS Sulphur, Success, Parmelia and Challenger prospects which has provided a number of excellent exploration targets beneath and adjacent to the historically mined open pits.

Currently ~4,000m of deep RC drilling holes to a maximum depth of 350m are planned to test the size potential of the highest priority targets, some of which are shown in Figures 8-11. Drilling is expected to be complete by mid-September with results available in the December Quarter.

1 Refer to YRL ASX announcement dated 23 March 2021.

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Figure 7 – Mt McClure project plan showing Yandal tenements, regional prospects, geological interpretation and nearby mining infrastructure owned by Northern Star Resources Ltd (ASX: NST).

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HMS Sulphur Prospect
>3km long strike length of
anomalous reconnaissance drill
intercepts not tested at depth
YRLRC0401 [1 ]
11m @ 2.56g/t Au from 73m incl.
-8m @ 3.25g/t Au from 76m
-2m @ 9.31g/t Au from 82m
YRLRC0400 [1 ] -1m @ 12.24g/t Au from 83m
6m @ 1.61g/t Au from 36m incl.
-1m @ 5.35g/t Au from 39m
YRLRC0403 [1 ]
YRLRC0402 [1 ]
8m @ 0.48g/t Au from 53m incl.
8m @ 0.74g/t Au from 36m incl.
-1m @ 1.71g/t Au from 57m
-1m @ 3.77g/t Au from 37m
Cross Section
location (Figure 13)
YRLRC0425 [1 ]
6m @ 0.47g/t Au from 238m incl.
-1m @ 1.12g/t Au from 239m
Success
Open Pit
YRLRC0405 [1 ]
17m @ 0.44g/t Au from 61m incl.
-3m @ 1.57g/t Au from 65m
YRLRC0406 [1 ]
1m @ 1.74g/t Au from 43m
YRLRC0404 [1 ]
1m @ 1.61g/t Au from 25m
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Figure 8 – HMS Sulphur and Success prospect plan with new and historic drill collars, maximum gold values projected to the collar, infrastructure, geological interpretation, cross-section A - A’ location (Figure 9) and proposed follow-up high-impact RC drilling traces.

1 Refer to YRL ASX announcement dated 23 March 2021.

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A A’
Proposed RC Hole
8m @ 0.74g/t Au from 36m [1] incl.
-1m @ 3.77g/t Au from 37m
Base of Complete Oxidation
OPEN Top of Fresh Rock Boundary
11m @ 2.56g/t Au from 73m [1] incl.
-8m @ 3.25g/t Au from 76m
-2m @ 9.31g/t Au from 82m
-1m @ 12.24g/t Au from 83m
HMS Sulphur
Lode Primary
Target
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Figure 9 – HMS Sulphur prospect schematic cross section plan (A – A’, refer Figure 8 for location) with recent and historic drill traces, grades and interpreted weathering domains.

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B Proposed B’
RC Hole
Historic drilling
too shallow
OPEN 2m @ 4.81g/t Au from 178m [1 ]
6m @ 2.09g/t Au from 203m [1] incl.
-2m @ 5.22g/t Au from 206m
-1m @ 7.13g/t Au from 206m
Parmelia Lode
Primary Target
(~200m below
base of pit)
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Figure 10 – Parmelia prospect schematic cross section plan (B – B’, refer Figure 11 for location) with recent and historic drill traces, grades and interpreted weathering domains.

1 Refer to YRL ASX announcement dated 23 March 2021.

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YRLRC0406 [1 ]
1m @ 1.74g/t Au from 43m
YRLRC0419 [1 ]
2m @ 4.81g/t Au from 178m
6m @ 2.09g/t Au from 203m incl.
-2m @ 5.22g/t Au from 206m
-1m @ 7.13g/t Au from 206m
Parmelia Open Pit
No drilling to
test for down
YRLRC0420 [1 ] dip extensions
for >600m
YRLRC0421 [1 ]
5m @ 1.79g/t Au from 93m incl.
-2m @ 3.94g/t Au from 93m
-1m @ 5.29g/t Au from 93m
8m @ 0.68g/t Au from 120m incl.
-1m @ 3.23g/t Au from 120m
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Figure 11 – Parmelia prospect plan with new and historic drill collars, maximum gold values projected to the collar, infrastructure, geological interpretation, cross-section B - B’ location (Figure 10) and proposed follow-up high-impact RC drilling traces.

1 Refer to YRL ASX announcement dated 23 March 2021.

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Next Steps

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

• Receive and interpret RC and AC assays from drilling completed at the Gordons Dam, Malone, Cleft, Sheperd, Waterline, Star of Gordon and Flushing Meadows North prospects;

• Complete two possibly three diamond holes at Malone and one at the Gordons Dam prospect and continue with four rigs to determine target size potential as soon as possible;

• Complete magnetic surveys at Sims Find and RC drilling at Mt McClure ahead of determining followup drilling programs.

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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Table 1 – New RC drill collar locations, depth, orientation and 1m down hole assay results – Barwidgee gold 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)
Sims Find Prospect RC Intervals(>0.10g/t Au)
YRLRC1010	7016551	295308	280	-60	50	78	79	1	0.20
						138	139	1	0.11
						152	154	2	0.15
						158	160	2	0.22
						164	167	3	0.10
						185	186	1	0.10
						189	192	3	0.16
						197	198	1	0.17
						200	202	2	0.14
						248	250	2	0.34
YRLRC1011	7017298	294630	300	-60	50	5	6	1	0.90	1.01
						75	77	2	0.23
						172	178	6	8.97
				including		172	175	3	17.58
				including		172	173	1	15.25	40.02
				including		174	175	1	7.19	10.89
						182	184	2	1.49
				including		182	183	1	2.81	2.50
						201	203	2	0.14
						293	295	2	2.21
				including		293	294	1	4.28	3.46
YRLRC1012	7016576	295341	250	-60	50	68	69	1	0.27
						104	106	2	0.42
				including		104	105	1	0.63	0.69
						142	143	1	0.30	0.28
						146	149	3	0.20
						234	235	1	0.10
YRLRC1013	7016974	294885	250	-60	50	17	19	2	0.18
						22	24	2	1.07
				including		22	23	1	1.79	1.98
						148	150	2	0.29
						154	155	1	0.11
						174	176	2	0.13
						202	203	1	0.10
						207	209	2	2.86
				including		207	208	1	3.69	5.59
						212	213	1	0.14
						230	231	1	0.55	0.59
YRLRC1014	7017051	294977	250	-60	50	33	35	2	0.16
						81	82	1	5.31	10.25
						102	103	1	1.14	1.17
						107	108	1	0.45
						117	118	1	0.23
						162	163	1	0.16

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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)
						203	204	1	0.10
YRLRC1015	7017655	294319	76	-60	50	69	70	1	0.13
Sims Find Induced Polarisation Targets RC Intervals (>0.10/t Au)
YRLRC1009	7017045	295430	180	-60	50	39	44	5	0.30
				including		43	44	1	0.46	0.52
						166	168	2	0.25
				including		166	167	1	0.40
Cash Prospect RC Intervals (>0.10g/t Au)
YRLRC1016	7005575	297420	304	-60	220	26	28	2	1.18
				including		26	27	1	1.72	1.90
						43	44	1	0.28
						56	59	3	2.26
				including		56	58	2	3.27
				including		56	57	1	4.29	4.55
						188	189	1	0.13
						246	247	1	0.19
						278	279	1	0.15
						282	283	1	0.29
						285	286	1	0.10

Notes to Table 1 ; 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.

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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’.

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Appendix 1 – Barwidgee and Mt McClure Gold Projects 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,	•	For Yandal drilling, 4m composite samples taken with a scoop being thrust to the bottom of the sample
techniques	or specific specialised industry standard measurement tools		bag which is laid out in individual metres in a plastic bag on the ground. For RC drilling 1m single splits
	appropriate to the minerals under investigation, such as down		taken using riffle splitter at time of drilling, if 4m composites are anomalous (>100-200ppb), 1m single
	hole gamma sondes, or handheld XRF instruments, etc.). These		splits are submitted for analyses. Average sample weights about 3.0-4.0kg for 4m composites and 3.0-
	examples should not be taken as limiting the broad meaning of		4.0kg for 1m samples.
	sampling.	•	Historical drilling at all prospects and the surrounding areas is highly variable with initial composite
			sample intervals usually being between 3 and 4m collected from samples laid on the ground or collected
			in sample bags with the composites taken either via spear sampling or splitting. Single metre samples
			were collected either from the original residue in the field or by collecting a one metre sample from a
			cyclone / splitter.Singlemetersampleweightswere usuallyless than3kg.
	Include reference to measures taken to ensure sample	•	For Yandal RC drilling regular air and manual cleaning of cyclone to remove hung up clays where
	representivity and the appropriate calibration of any		present. Routinely regular standards are submitted during composite analysis and standards, blanks
	measurement tools or systems used.		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.
		•	Historical sampling at all prospects has had highly variable QAQC procedures depending on the
			operator. However, these would usually include submitting regular duplicates, blanks and standards.
			Sampling equipment (cyclones, splitters, sampling spears) were reported as being regularly cleaned
			however again this is highly variable depending on the operator. Standards & replicate assays taken by
			thelaboratory.
	Aspects of the determination of mineralisation that are Material	•	RC drilling was used to obtain 1m samples from which approximately 1.0-3.0kg sample was pulverised
	to the Public Report. In cases where ‘industry standard’ work		to produce a 50g fire assay with ICP-MS (inductively coupled plasma - mass spectrometry) finish gold
	has been done this would be relatively simple (e.g. ‘reverse		analysis (0.01ppm detection limit) by Aurum Laboratories in Beckenham, Western Australia. Samples
	circulation drilling was used to obtain 1 m samples from which 3		assayed for Au only for this program. Drilling intersected oxide, transitional and primary mineralisation
	kg was pulverised to produce a 30 g charge for fire assay’). In		to a maximum drill depth of 304m downhole which was at the Cash prospect – Barwidgee project.
	other cases more explanation may be required, such as where	•	A number of historic drill hole intervals have been included in the figures for diagrammatical purposes
	there is coarse gold that has inherent sampling problems.		where data is considered by the Competent Person to be reliable. As the data is derived from multiple
	Unusual commodities or mineralisation types (e.g. submarine		operators there is inconsistency in sample size, assay methodology and QA/QC procedures along with
	nodules) may warrant disclosure of detailed information.		field procedures and targeting strategy. For a number of drill holes with grades on section for comparison
			purposes, they are historical and derived from multiple operators hence there is inconsistency in sample
			size, assaymethodology and QAQC procedures alongwith field procedures and targeting strategy.
Drilling	Drill type (e.g. core, reverse circulation, open-hole hammer,	•	RC drilling with a 6’ ½ inch face sampling hammer bit.
techniques	rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core	•	Historical drilling was highly variable depending on the operators with industry standard drilling methods
	diameter, triple or standard tube, depth of diamond tails, face-		used (RAB, AC or RC drilling) with sampling usually consisting of a 4m composite sample initially
	sampling bit or other type, whether core is oriented and if so, by		assayed for the entire hole and single meter samples collected and stored on site until the assay results
	what method, etc).		from the composite samples are received. Details of all historic RAB and AC drilling is unknown.
			Historical RC drillingused a 5’¼inch face samplinghammer.

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Criteria	JORC Code explanation	Commentary	Commentary
Drill sample	Method of recording and assessing core and chip sample	•	RC recovery and meterage was assessed by comparing drill chip volumes for individual meters.
recovery	recoveries and results assessed.		Estimates of sample recoveries were recorded. Routine checks for correct sample depths are
	Measures taken to maximise sample recovery and ensure representative nature of the samples.	•	undertaken every RC rod (6m). RC sample recoveries were visually checked for recovery, moisture and contamination. The cyclone was routinely cleaned ensuring no material build up.
	Whether a relationship exists between sample recovery and	•	Due to the generally good/standard drilling conditions and appropriately powered drilling rigs the
	grade and whether sample bias may have occurred due to		geologist believes the RC samples are representative. At depth there was not many wet samples as the
	preferential loss/gain of fine/coarse material.		drilling was not that deep and water was kept out, these are recorded on geological logs.
		•	Historical recording the sample recovery has been very highly variable, especially for RAB, AC and RC
			drilling. Theroutinenature and accuracy of recordingwet samples andrecovery estimateis unknown.
Logging	Whether core and chip samples have been geologically and	•	RC drill chip logging is routinely completed on one metre intervals at the rig by the geologist. The log
	geotechnically logged to a level of detail to support appropriate		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 Perth office. Logging was qualitative in nature.
	studies.	•	All intervals logged for RC drilling completed during drill programs with a representative sample placed
	Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.	•	into chip trays. Historic geological logging has been undertaken in multiple ways depending on the drilling method, the geologist logging the holes and the exploration company. Most exploration was undertaken using a
	The total length and percentage of the relevant intersections		company defied lithology and logging code however this was variable for each explorer. Some of the
	logged.		explorers undertook geological logging directly into a logging computer / digital system while others
			logged onto geological logging sheets and thenundertookdata entry ofthisinformation.
Sub-sampling	If core, whether cut or sawn and whether quarter, half or all core	•	RC samples taken.
techniques	taken.	•	RC samples were collected from the drill rig by spearing each 1m collection bag and compiling a 4m
and sample preparation	If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.	•	composite sample. Single splits were automatically taken by the rig cone splitter for RC. Duplicate 1m samples were taken in the field, with standards and blanks inserted with the RC and DD samples for analyses.
	For all sample types, the nature, quality and appropriateness of	•	1m samples were consistent and weighed approximately 3.0–4.0kg for RC, it is common practice to
	the sample preparation technique.		review sample results and then review sampling procedures to suit.
	Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.	•	Once samples arrived in Perth, further work including duplicates and QC was undertaken at the laboratory. Yandal Resources Ltd has determined that the data is of sufficient quality for a MRE is one is compiled in the future as the deposit is open in many directions.
	Measures taken to ensure that the sampling is representative of	•	Mineralisation mostly occurs within moderately oxidised saprock and fresh coarse grained dolerite as
	the in situ material collected, including for instance results for		the weathering profile is very shallow. The sample sizes is standard practice in the WA Goldfields to
	field duplicate/second-half sampling.		ensure representivity.
	Whether sample sizes are appropriate to the grain size of the material being sampled.	•	For the historical samples there has been multiple different sampling and sub sampling techniques including core, RC samples (both composites and single meter samples, Aircore and RAB sampling (both composites and single meter samples.
Quality of	The nature, quality and appropriateness of the assaying and	•	The RC samples were assayed using a 50g fire assay with ICP-MS (inductively coupled plasma - mass
assay data	laboratory procedures used and whether the technique is		spectrometry) finish gold analysis (0.01ppm detection limit) by Aurum Laboratories in Beckenham,
and	considered partial or total.		Western Australia for gold only. Initial 4m samples were assayed by Aqua Regia with fire assay checks
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.	• •	(0.01ppm detection limit). 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 in line with commercial procedures, reproducibility and accuracy. These comparisons were deemed
			satisfactory. A number of samples have been selected for future analyses usingdifferent techniques for

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Criteria	JORC Code explanation	Commentary	Commentary
	Nature of quality control procedures adopted (e.g. standards,		comparison purposes.
	blanks, duplicates, external laboratory checks) and whether	•	Historical assay data used various laboratory techniques and laboratories. QAQC procedures are
	acceptable levels of accuracy (i.e. lack of bias) and precision		variable and additional validation work on the QAQC samples is required.
	have been established.
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 reported in Table 1 by Mr Trevor Saul of Yandal Resources and were generated
	verification, data storage (physical and electronic) protocols.		by compositing to the indicated downhole thickness. A 0.10g/t Au lower cut-off was used for results and
	Discuss any adjustment to assay data.	•	intersections generally calculated with a maximum of 2m of internal dilution. For historic drilling the data has been used in the same way as above. The Yandal Resources’ geological
			database has been well verified in places based on recent drilling results.
		•	There has been no adjustment to historic assay data.
		•	It is unknown whether there is bias between historical and recent RC drill sampling and it is not relevant
			at this stage.
		•	More drillingwillberequired to explore thefullextents ofthemineralisation.
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 prospect. Down
	Specification of the grid system used.	•	hole surveys utilised a proshot camera at the end of hole plus every 30m while pulling out of the hole. Grid MGA94 Zone 51.
	Quality and adequacy of topographic control.	•	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 are
			routinely surveyed by DGPS as well as a surveyed topographical surface if the data is to be used for
			compilation of MRE’s. Any topographic surface wireframes are usually generated by using the hole
			collar surveys. It is considered to be of sufficient quality to be valid for this stage of exploration.
		•	Historical drilling was located using various survey methods and multiple grids including local grids,
			AMG,Latitude andLongitude.
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 define mineralisation in preparation for a JORC Compliant Resource Estimate update if completed. Some historic holes have been redrilled and sampled for comparative purposes. 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
	Whether sample compositing has been applied.		interpretations when complete.
		•	Given the highly variable drilling within the project the historical hole spacing and depths are highly
			variable.
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	•	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 delineatingshallowgold resources in Australia.

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Criteria	JORC Code explanation	Commentary	Commentary
	introduced a sampling bias, this should be assessed and	•	Angle holes are the most appropriate for exploration style and Resource style drilling for the type and
	reported if material.		location of 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 by project;
tenement and		including agreements or material issues with third parties such		Barwidgee Project – E53/1843
land	tenure	as joint ventures, partnerships, overriding royalties, native title		The tenement is 100% owned by the Company. The tenement is in good standing and no known
status		interests, historical sites, wilderness or national park and		impediments exist.
		environmental settings.	•	The Mt McClure project consists of three granted Mining Leases M36/691 – 693, the tenement is 100%
		The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the		owned by the Company. The tenement is in good standing and there is a 1% NSR royalty payable to Northern Star Resources Ltd.
		area.
Exploration		Acknowledgment and appraisal of exploration by other parties.	•	Previous workers in the Barwidgee and Ironstone Well area include Eagle Mining, Cyprus Gold
done by other				Australia, Wiluna Mines, Homestake Gold, Great Central Mines, Normandy Mining, Oresearch,
parties				Newmont, Australian Resources Limited, View Resources, Navigator Mining, Metaliko Resources and
				MaximusResources.
Geology		Deposit type, geological setting and style of mineralisation.	•	Archaean Orogenic Gold mineralisation hosted within the Yandal Greenstone Belt, a part of the granite
				/ greenstone terrain of the Yilgarn Craton. Oxide supergene gold and primary mineralisation with quartz
				veins andminorsulphidesina doleritehostrock inthe cashofSimsFind and Cash.
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 • hole length.	• •	Other hole collars in the immediate area of the prospects at the Barwidgee and Mt McClure project 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 and sections view diagrams are shown in the report of all drilling collars in close proximity to the new drilling for exploration context in Figures 2-11. No information is excluded.
		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 or as shown.
		Where aggregate intercepts incorporate short lengths of high	•	No metal equivalent calculations were applied.
		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.

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Criteria	JORC Code explanation	Commentary	Commentary
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 lengths	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,	• • •	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. Given the nature of RC drilling, the minimum width of assay interval is 1m (max. 1m). Given the highly variable geology and mineralisation including supergene mineralisation and
	there should be a clear statement to this effect (e.g. ‘down hole		structurally hosted gold mineralisation there is no project wide relationship between the widths and
	length, true width not known’).		intercept lengths.
Diagrams	Appropriate maps and sections (with scales) and tabulations of	•	See Figures 1-11 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 RC assays > 0.10g/t are shown in Table 1 for the current drilling.
reporting	practicable, representative reporting of both low and high grades	•	Diagrammatic results are shown in Figures 2-11.
	and/or widths should be practiced to avoid misleading reporting
	of Exploration Results.
Other	Other exploration data, if meaningful and material, should be	•	There have been historical Mineral Resource Estimates for Sims Find – Barwidgee project.
substantive	reported including (but not limited to): geological observations;	•	There has been historic mining at Sims Find in the 1930’s via shallow underground methods.
exploration data	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	• •	There have been historical Mineral Resource Estimates for The Mt McClure project for the three historic open pits of Success. Parmelia and Challenger. There has been historic mining at Mt McClure in the 1990’s and 2012 via shallow open pit methods.
	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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