YANDAL RESOURCES LIMITED — Capital/Financing Update 2021

May 4, 2021

ASX Announcement 5 May 2021

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Gordons Dam RC drilling returns highest primary gold grades to date

High-impact diamond and RC drilling to resume in early May

• New multi-directional RC drilling targeting primary gold mineralisation beneath the Gordons Dam palaeochannel discovery has returned further encouraging intercepts including;

Gordons Dam Primary Zone

• ➢ 2m @ 10.83g/t Au from 118m to end-of-hole including 1m @ 20.68g/t from 118m (YRLRC543)

• ➢ 2m @ 11.10g/t Au from 73m including 1m @ 20.41g/t from 73m (YRLRC539)

• ➢ 6m @ 3.39g/t Au from 116m including 1m @ 9.25g/t from 119m (YRLRC533)

Gordons Dam Oxide Zone

• ➢ 19m @ 2.86g/t Au from 36m including 1m @ 38.07g/t from 37m (YRLRC530)

• ➢ 9m @ 3.78g/t Au from 31m including 1m @ 23.01g/t from 32m (YRLRC540)

• ➢ 5m @ 5.85g/t Au from 38m including 1m @ 26.28g/t from 38m (YRLRC528A)

• High-impact diamond drilling to determine the scale of the discovery is planned to commence in the second week of May.

Yandal Resources’ Managing Director; Mr Lorry Hughes commented:

“The new high-grade primary mineralisation is interpreted to strike in a NNW - SSE direction sub-parallel to the known porphyry intrusion and has a sub-vertical dip. Combining the geological information from the 2020 diamond core drilling program, specifically the orientation of high-grade quartz veins and structures, a highgrade zone can be traced for at least 200m in strike length and is open.

The zone is interpreted to be one of several similarly oriented zones confined within a broader structural zone that is related to a moderately east dipping “main” zone that has been intruded by the porphyry. The porphyry contains gold mineralisation with disseminated sulphides and quartz veins and it has displaced gold bearing quartz veins and structures.

Exploration will continue to target large extensions of the intrusion as it is believed it has intruded into a major gold bearing structure. Further drilling and data analysis is required to ascertain the main controlling features on the mineralisation and an expert structural study is planned during May/June to aid the definition of high-impact mineralisation targets going forward”.

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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 Katina Law Chair Barwidgee (100% owned) Kelly Ross Non-Executive Director Mt McClure (100% owned) A 159 Stirling Highway Bianca Taveira Company Secretary Gordons (100% owned) Nedlands WA 6009 Shares on Issue 93,830,522 P PO Box 1104 T +61 8 9389 9021 Share Price $0.56 Nedlands WA 6909 E yandal@yandalresources.com.au Market Cap $52M 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 report new downhole fire assay results from reverse circulation (“RC”) drilling at the Gordons Dam gold prospect within the Gordons gold project located in the highly prospective Kalgoorlie-Boulder Region of Western Australia (Figure 1).

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20kms to Paddington Gold Mine
(Norton Gold Fields Pty Ltd)
14kms to Kanowna Belle
Gold Mine (ASX: NST)
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Figure 1 – Location map of key prospects within the Gordons gold project in relation to nearby operating third party gold mines, project tenure and regional geology.

ASX Announcement 5 May 2021

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A total of 22 holes for 2,531m were completed in March and drilled at four different directions (azimuths) to test a number of geological interpretations prior to design of expansion diamond and RC drilling at depth (Figure 2). Preparation to complete a follow-up diamond hole to target mineralisation at ~250m depth has commenced.

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YRLRC0533
35m @ 0.80g/t Au (97m) incl.
-6m @ 3.39g/t Au (116m)
-1m @ 9.25g/t Au (119m)
-1m @ 3.71g/t Au (121m)
YRLDD006 [1 ] A’
11.00m @ 2.74g/t Au (53.00m) incl.
-4.00m @ 6.65g/t Au (59.00m)
YRLRC0531 -1.68m @ 11.94g/t Au (60.32m)
YRLRC0542
15m @ 0.32g/t Au (110m)
YRLRC0543 (End-of-hole) YRLRC0538
2m @ 10.83g/t Au (118m) incl. 16m @ 1.38g/t Au (30m) incl.
-1m @ 20.68g/t Au (118m) -5m @ 3.95g/t Au (32m)
-1m @ 13.46g/t Au (32m)
YRLRC0529
16m @ 0.38g/t Au (54m)
YRLRC0534
YRLRC0526 YRLRC0532A 14m @ 0.92g/t Au (112m) incl.
-1m @ 4.98g/t Au (112m)
YRLRC0530 YRLRC0525 YRLRC0528 -1m @ 2.36g/t Au (120m)
19m @ 2.86g/t Au (36m) incl. YRLRC0532 17m @ 0.48g/t Au (130m)
-7m @ 7.09g/t Au (37m) YRLRC0525A
-1m @ 38.07g/t Au (37m)
YRLRC0528A
5m @ 5.85g/t Au (38m) incl. YRLRC0539
-1m @ 26.28g/t Au (38m) 7m @ 3.36g/t Au (69m) incl.
-1m @ 20.41g/t Au (73m)
YRLRC0527
20m @ 0.55g/t Au (28m)
YRLRC0540
9m @ 3.78g/t Au (31m) incl.
-1m @ 8.59g/t Au (31m) YRLRC0535
-1m @ 23.01g/t Au (32m)
+200m long
A steeply
dipping
Cross section high-grade
refer Figure 3 zone
YRLRC0536
3m @ 1.93g/t Au (28m) incl.
YRLRC0541 -1m @ 5.04g/t Au (29m)
YRLDD007 [1 ]
33.75m @ 1.11g/t Au (62.00m) incl.
-3.40m @ 4.68g/t Au (68.30m)
YRLRC0537
51m @ 0.33g/t Au (50m) incl.
-3m @ 2.24g/t Au (80m)
-1m @ 4.15g/t Au 80m)
1 Refer to YRL ASX announcements dated 24 February and 14 January 2021.
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Figure 2 – Gordons Dam schematic prospect collar plan over interpreted geology showing the location of new RC holes with assays received, recent and planned diamond holes and all other holes as per the legend.

ASX Announcement 5 May 2021

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Four metre composite assay results are pending from the top 28m of each hole and from holes that were not completed to planned depth due to adverse drilling conditions. The sample intervals from 28m to the end of each hole were submitted for analyses as a priority and numerous significant intervals were returned including;

• ➢ 2m @ 10.83g/t Au from 118m to end-of-hole including 1m @ 20.68g/t from 118m (YRLRC543)

• ➢ 2m @ 11.10g/t Au from 73m including 1m @ 20.41g/t from 73m (YRLRC539)

• ➢ 6m @ 3.39g/t Au from 116m including 1m @ 9.25g/t from 119m (YRLRC533)

• ➢ 19m @ 2.86g/t Au from 36m including 1m @ 38.07g/t from 37m (YRLRC530)

• ➢ 9m @ 3.78g/t Au from 31m including 1m @ 23.01g/t from 32m (YRLRC540)

• ➢ 5m @ 5.85g/t Au from 38m including 1m @ 26.28g/t from 38m (YRLRC528A)

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A A’
Palaeochannel Zone
Top of Fresh Rock Boundary
Primary mineralisation
(96 – 140m) Refer Table 1
Interpreted
structural target
zone intruded
by a mineralised
porphyry unit
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Figure 3 – Gordons Dam prospect schematic cross section plan (A – A’, refer Figure 2). over interpreted geology showing the location of a planned new diamond drill hole and some earlier Yandal drilling located on section.

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The new results confirm high-grade structures and variably oriented gold bearing sulphidic quartz veins with a subvertical dip. These are interpreted to occur in multiple zones and within a broader structural zone that dips moderately to the east and is intruded by a mineralised porphyry unit (Figures 2 & 3).

A high-grade zone can be traced for over 200m in strike length oblique to the porphyry intrusion, is open and requires further drilling at depth. The porphyry contains disseminated gold mineralisation with sulphides and stockwork style quartz veining and it has displaced gold bearing quartz veins and structures within mafic rocks.

Exploration will continue to target extensions of the main structural zone containing the intrusive porphyry as this is a style of mineralisation known to host large deposits in the vicinity. A detailed structural study of the known mineralisation and geology is planned to be undertaken in May to define large-scale exploration targets for diamond drill testing in the near term.

Next Steps

Key exploration activities planned during the June Quarter at the Gordons project include;

• Release remaining assays from multi-directional RC drilling at the Gordons Dam Main Zone;

• Commence diamond drilling to test for porphyry related mineralisation down dip of the Main Zone;

• Receive and release remaining AC results and commence follow-up RC testing at Malone and Gordons Dam South East;

• Receive and release RC results from the Star of Gordons prospect.

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Table 1 – RC drill collar locations, depth, orientation and 1m down hole assay results - Gordons Dam gold prospect.

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)
Gordons Dam Prospect RC Intervals(>0.10g/t Au)
YRLRC0525	6633656	359626	60	-60	220	0	60	Assays Pending
YRLRC0525A	6633656	359626	90	-60	220	0	28	Assays Pending
						51	54	3	0.15
						58	60	2	0.11
YRLRC0526	6633669	359623	90	-60	180	0	28	Assays Pending
						61	63	2	0.77
YRLRC0527	6633601	359668	84	-60	180	0	28	Assays Pending
						28	48	20 0.55
				including		34	35	1 1.31 1.52
				including		37	40	3 1.88
				including		37	38	1 2.91 3.08
				including		38	39	1 1.89
				including		43	44	1 1.03 0.95
						60	64	4	0.09
						81	82	1	0.15
YRLRC0528	6633641	359668	96	-60	180	0	96	Assays Pending
YRLRC0528A	6633641	359668	120	-60	180	0	28	Assays Pending
						38	43	5 5.85
				including		38	40	2 14.17
				including		38	39	1 22.32 26.28
						51	59	8 0.45
						61	62	1	0.14
						64	65	2	0.15
						73	74	1	0.22
						87	92	5	0.10
						99	100	1	0.10
						115	119	4	0.23
YRLRC0529	6633686	359651	120	-60	220	0	28	Assays Pending
						54	70	16 0.38
				including		60	61	1 0.99 1.29
						74	75	1 1.55 1.73
						86	87	1	0.17
YRLRC0530	6633637	359693	126	-60	180	0	28	Assays Pending
						30	31	1	0.31
						34	35	1	0.31
						36	55	19	2.86
				including		37	44	7	7.09
				including		37	39	2	20.89
				including		37	38	1	18.03	38.07
				including		41	44	3	2.38
						58	75	17	0.28
				including		68	75	7	0.48
				including		68	69	1	1.00
				including		74	75	1	0.71

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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)
						80	82	2	0.25
						94	95	1	0.25
YRLRC0531	6633677	359693	138	-60	180	0	28	Assays Pending
						29 35		6 0.55
						40 41		1 0.94
						57	58	1	0.18
						73	74	1	0.12
						78	80	2	0.42
						97	100	3	0.43
						104	105	1	0.44
YRLRC0532	6633663	359718	41	-60	180	0	41	Assays Pending
YRLRC0532A	6633663	359718	48	-60	180	0	28	Assays Pending
						30	32	2	0.42
						35	36	1	0.43
YRLRC0533	6633703	359718	162	-60	180	0	28	Assays Pending
						42	43	1	0.17
						51	60	9	0.18
						93	94	1	0.32
						97 132		35 0.80
				including		116 122		6 3.39
				including		119 120		1 5.21 9.25
				including		121 122		1 3.50 3.71
				including		128 129		1 1.50 1.61
						140	142	2	0.11
						150 152		2 0.86
				including		151 152		1 1.32 1.29
						159	160	1	0.52
YRLRC0534	6633674	359792	156	-60	220	0	28	Assays Pending
						32 34		2 1.24
				including		33 34		1 2.10 2.22
						39	41	2	0.17
						64	72	8	0.30
						88	89	1	0.17
						96 102		6 0.40
				including		100 101		1 1.66 1.39
						112 126		14 0.92
				including		112 113		1 4.98 3.99
				including		120 121		1 2.30 2.36
						130 147		17 0.48
				including		139 141		2 1.53
				including		139 140		1 2.02 1.81
						153	154	1	0.54
YRLRC0535	6633562	359803	120	-70	40	0	28	Assays Pending
						30 39		9 0.75
				including		38 40		2 0.49
				including		31 32		1 3.46 3.51

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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		36 37		1 1.52 1.60
						42	61	19	0.17
						74	75	1	0.22
						76	78	2	0.33
YRLRC0536	6633600	359784	126	-75	40	0	28	Assays Pending
						28 31		3 1.93
				including		29 30		1 4.70 5.04
						33	38	5	0.18
						45	46	1	0.27
						55	59	4	0.15
						61	62	1	0.17
						90	95	5	0.30
YRLRC0537	6633552	359743	120	-75	40	0	28	Assays Pending
						34	35	1	0.18
						38 39		1 0.85 0.94
						45	47	2	0.30
						50 101		51 0.33
				including		72 75		3 0.70
				including		80 83		3 2.24
				including		80 81		1 3.86 4.15
				including		82 83		1 1.62
						106	108	2	0.23
						117	118	1	0.70
YRLRC0538	6633653	359744	120	-60	0	0	28	Assays Pending
						30 46		16 1.38
				including		32 37		5 3.95
				including		32 33		1 12.34 13.46
				including		35 36		1 4.02
						51	54	3	0.31
						113	114	1	0.12
YRLRC0539	6633633	359728	120	-80	40	0	28	Assays Pending
						30	31	1	0.10
						33 38		5 0.34
				including		34 35		1 0.89 0.99
						48	50	2	0.13
						58	61	3	0.12
						69 76		7 3.36
				including		73 75		2 11.10
				including		73 74		1 20.41 18.54
						81	86	5	0.15
						89 119		30 0.28
				including		96 97		1 1.82 2.11
YRLRC0540	6633613	359689	168	-80	40	0	28	Assays Pending
						28	29	1	0.68
						31 40		9 3.78
				including		31 33		2 15.80

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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		31	32	1 7.43 8.59
				including		32	33	1 21.63 23.01
				including		37	38	1 1.22 1.30
						45	50	5 0.43
				including		48	49	1 1.41 1.48
						56	58	2 0.54
						66	69	3	0.13
						72	75	3	0.52
						80	84	4 0.66
				including		82	83	1 1.39 1.52
						93	100	7 0.69
				including		99	100	1 3.85 4.12
						104	107	3 0.60
				including		104	105	1 1.28 1.33
						143	144	1	0.13
						148	152	4 0.70
				including		149	150	1 2.43 2.20
						158	159	1	0.30
						161	162	1	0.52
YRLRC0541	6633485	359690	180	-60	40	0	28	Assays Pending
						38	39	1	0.18
						41	42	1	0.18
						44	45	1	0.20
						54	56	2	0.13
						71	72	1	0.22
						76	77	1	0.20
						88	89	1	0.26
						100	101	1	0.10
YRLRC0542	6633677	359693	126	-80	40	0	28	Assays Pending
						42	43	1	0.02	0.11
						45	46	1	0.34
						49	52	3	0.12
						58	59	1	0.13
						61	63	2	0.12
						66	72	6	0.20
						77	78	1	0.15
						82	83	1	0.11
						94	95	1	0.20
						100	101	1	0.26
						110	125	15 0.32
				including		113	114	1 1.41 1.51
YRLRC0543	6633678	359693	120	-60	0	0	28	Assays Pending
						49	50	1	0.13
						57	58	1	0.13
						85	86	1	0.10
						89	90	1	0.10

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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)
						101 102		1 0.78 0.82
						118 120		2 10.83#
				including		118 119		1 20.68 19.59

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.

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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 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’.

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 3.0-4.0kg for
	examples should not be taken as limiting the broad meaning of		1m samples.
	sampling.	•	For DD drilling samples HQ-3 and NQ2 core store is specially made plastic core trays and sampled at
			a maximum of 1m intervals (smaller intervals based on geology observations). Average weights are
			variable.
	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. 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. Standards & replicate assays taken by the
			laboratory.
	Aspects of the determination of mineralisation that are Material	•	RC and DD drilling was used to obtain 1m or smaller samples from which approximately 1.0-3.0kg
	to the Public Report. In cases where ‘industry standard’ work		sample was pulverised to produce a 50g fire assay with ICP-MS (inductively coupled plasma - mass
	has been done this would be relatively simple (e.g. ‘reverse		spectrometry) finish gold analysis (0.01ppm detection limit) by Aurum Laboratories in Beckenham,
	circulation drilling was used to obtain 1 m samples from which 3		Western Australia. Samples assayed for Au only for this program. Drilling intersected oxide, transitional
	kg was pulverised to produce a 30 g charge for fire assay’). In		and primary mineralisation to a maximum drill depth of 132m for RC and 325.40m for DD.
	other cases more explanation may be required, such as where
	there is coarse gold that has inherent sampling problems.
	Unusual commodities or mineralisation types (e.g. submarine
	nodules) may warrant disclosure of detailed information.
Drilling	Drill type (e.g. core, reverse circulation, open-hole hammer,	•	RC drilling with a 6’ ½ inch face sampling hammer bit. DD drilling used a HQ-3 and NQ2 drill bit.
techniques	rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core
	diameter, triple or standard tube, depth of diamond tails, face-
	sampling bit or other type, whether core is oriented and if so, by
	what method, etc).
Drill sample	Method of recording and assessing 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) For DD sample recovery/core loss or gain was written on core blocks after each run. 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 DD samples are representative. At depth there were some wet RC 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 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. For DD drilling detailed
	studies.		geological logs have been recorded for geology, geotechnical and structural aspects.
	Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.	•	All intervals logged for RC drilling completed during drill program with a representative sample placed into chip trays.
	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	•	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 at the Gordons Dam prospect there is sufficient data for a MRE and an initial one is planned upon completion upon receipt of all pending results and
	Measures taken to ensure that the sampling is representative of		QA/QC re-sample and re-assay programs (however the deposit is open in many directions).
	the in situ material collected, including for instance results for	•	Mineralisation mostly occurs within intensely oxidised saprolitic and palaeochannel clays after altered
	field duplicate/second-half sampling.		mafic, porphyry and felsic rocks (typical greenstone geology). The sample sizes is standard practice in
	Whether sample sizes are appropriate to the grain size of the		the WA Goldfields to ensure representivity.
	material being sampled.
Quality of	The nature, quality and appropriateness of the assaying and	•	The RC and DD samples were assayed using a 50g fire assay with ICP-MS (inductively coupled plasma
assay data	laboratory procedures used and whether the technique is		- mass spectrometry) finish gold analysis (0.01ppm detection limit) by Aurum Laboratories in
and	considered partial or total.		Beckenham, Western Australia for gold only. Initial 4m samples were assayed by Aqua Regia with fire
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.	• •	assay checks (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
	Nature of quality control procedures adopted (e.g. standards,		satisfactory. Some re-splitting with an onsite three-tier riffle splitter has been undertaken in the
	blanks, duplicates, external laboratory checks) and whether		palaeochannel area for analyses. A number of samples have been selected for future metallurgical
	acceptable levels of accuracy (i.e. lack of bias) and precision		testing. A number of 1m residues from RC assays are planned to be analysed at other laboratories for
	have been established.		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 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
			intersectionsgenerallycalculated with a maximum of 2m of internal dilution.

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Criteria	JORC Code explanation	Commentary	Commentary
	Discuss any adjustment to assay data.
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 define mineralisation in preparation for a JORC Compliant Resource Estimate update if completed at the Gordons Dam prospect only. 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
	Whether sample compositing has been applied.		results from all the drilling and geological interpretations when complete.
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 drilling was conducted on P27/1911 (M27/502). The tenement is 100% owned by the Company and
tenement and		including agreements or material issues with third parties such		there are no 3rdparty royalties. The tenement is in good standing and no known impediments exist.
land	tenure	as joint ventures, partnerships, overriding royalties, native title
status		interests, historical sites, wilderness or national park and
		environmental settings.
		The security of the tenure held at the time of reporting along with
		any known impediments to obtaining a licence to operate in the
		area.
Exploration		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 and Yandal’s Replacement Prospectus dated 22 November 2018 lodged on
		• 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.	• •	the ASX 12 December 2018. 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 1 - 3. 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.
		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), for DD the interval is variable up to a max. of 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
			interceptlengths.
Diagrams	Appropriate maps and sections (with scales) and tabulations of	•	See Figures 1-3 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 1-3.
	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 no historical Mineral Resource Estimates.
substantive	reported including (but not limited to): geological observations;	•	There has been no historic mining at the Gordons Dam prospect as it is a new discovery.
exploration	geophysical survey results; geochemical survey results; bulk
data	samples – size and method of treatment; metallurgical test
	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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