YANDAL RESOURCES LIMITED — Capital/Financing Update 2021

Mar 22, 2021

ASX Announcement 23 March 2021

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New Lode Confirmed at the Mt McClure Gold Project

Shallow intercepts demonstrate potential within a 3km long target zone at the HMS Sulphur prospect

• Confirmation and extension RC drilling has returned highly encouraging results from multiple prospects adjacent to and beneath historic open pit mines located 20km southwest of Bronzewing. Highlights include;

HMS Sulphur Prospect (New unmined footwall lode northwest of the Success open pit)

• ➢ 11m @ 2.56g/t Au from 73m including 1m @ 12.24g/t from 83m (YRLRC401) ➢ 6m @ 1.61g/t Au from 36m including 1m @ 5.35g/t from 39m (YRLRC400)

Parmelia Deeps Prospect (Down dip extension beneath the Parmelia open pit)

• ➢ 2m @ 4.81g/t Au from 178m and 2m @ 5.22g/t from 206m including 1m @ 7.13g/t (YRLRC419)

Challenger Prospect (North and south strike extensions of the Challenger open pits)

• ➢ 5m @ 3.56g/t Au from 84m including 1m @ 10.58g/t from 85m (YRLRC409)

• ➢ 6m @ 2.53g/t Au from 81m including 1m @ 8.95g/t from 82m (YRLRC410)

• ➢ 19m @ 1.27g/t Au from 39m including 1m @ 5.38g/t from 54m (YRLRC418)

• ➢ 6m @ 2.53g/t Au from 81m including 1m @ 8.95g/t from 82m (YRLRC410)

• ➢ 6m @ 2.75g/t Au from 54m including 1m @ 10.06g/t (YRLRC416)

• ➢ 14m @ 1.22g/t Au from 29m including 1m @ 5.48g/t from 39m (YRLRC424)

• Preparation for high-impact RC drilling including holes to 350m depth is underway.

Yandal Resources’ Managing Director; Mr Lorry Hughes commented:

“The HMS Sulphur lode is an exciting prospect where limited reconnaissance drilling along 3km of strike has outlined significant mineralisation which has not been tested at depth. The distribution of the gold intersected thus far suggests strong similarities to mineralisation that continues at depth at neighbouring prospects such as Success and Parmelia.

Beneath the Parmelia pit, the chance of finding substantial depth extensions has been greatly enhanced as the previous interpretation suggested strong mineralisation did not continue very far beyond the base of the historic pit. That is clearly not the case from the new results and I look forward to bringing forward the testing of this target in our priority drilling schedule”.

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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 Chair Tim Kennedy Non-Executive Director Bianca Taveira Company Secretary

Gold Projects

Lorry Hughes Managing Director/CEO Ironstone Well (100% owned) Katina Law Chair Barwidgee (100% owned) Tim Kennedy Non-Executive Director Mt McClure (100% owned) Bianca Taveira Company Secretary Gordons (100% owned) Shares on Issue 93,778,710 T +61 8 9389 9021 Share Price $0.45 E yandal@yandalresources.com.au Market Cap $42M 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 that it has intersected significant mineralisation at a number of prospects within the 100%-owned Mt McClure gold project in Western Australia (Figures 1-6). The project is located 20km via existing haul roads from the Bronzewing processing facility owned by Northern Star Resources Ltd (ASX: NST).

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Inset Map – refer Figure 6
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Figure 1 – Mt McClure project plan at larger scale showing Yandal tenements, regional prospects and geological interpretation and nearby mining infrastructure owned by Northern Star Resources Ltd (ASX: NST).

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A total of 26 angled reverse circulation (“RC”) holes for 2,813m at downhole depths between 60-258m were completed in the December Quarter 2020 to confirm and extend known mineralisation[1] . The program was successful and planning for follow-up drilling is well advanced for commencement in the June Quarter 2021.

HMS Sulphur Prospect

Three holes for 216m were completed and confirmed shallow mineralisation over a strike length of ~100m occurring within a 3km long trend defined by historic reconnaissance RAB and Air-core drilling (Figures 1, 2, 3 & 6). Highlights include;

• ➢ 11m @ 2.56g/t Au from 73m including 1m @ 12.24g/t from 83m (YRLRC401)

• ➢ 6m @ 1.61g/t Au from 36m including 1m @ 5.35g/t from 39m (YRLRC400)

• ➢ 8m @ 0.74g/t Au from 36m including 1m @ 3.77g/t from 37m (YRLRC402)

The prospect is considered completely open at depth with no drilling in the down dip position for the entire 3km strike length. Gold occurs within strongly oxidised mafic and volcanogenic sedimentary rocks and the geological interpretation suggests there is strong potential for continuity of the mineralisation within primary rocks at depth.

The HMS Sulphur mineralisation occurs ~200m into the footwall of the parallel Success prospect which was open pit mined to ~85m vertical depth and has been intersected at ~180m vertical depth in places.

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A A’
Proposed RC Hole
8m @ 0.74g/t Au from 36m 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 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 2 – HMS Sulphur prospect schematic cross section plan (A – A’, refer Figure 3 for location) with recent and historic drill traces, grades and interpreted weathering domains.

1 Refer to YRL ASX announcement dated 25 January 2021, 2020, 2 Refer to YRL’s Replacement Prospectus dated 22 November 2018 lodged on the ASX 12 December 2018.

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HMS Sulphur Prospect
>3km long strike length of
anomalous reconnaissance drill
intercepts not tested at depth
YRLRC0401
11m @ 2.56g/t Au from 73m incl.
-8m @ 3.25g/t Au from 76m
-2m @ 9.31g/t Au from 82m
-1m @ 12.24g/t Au from 83m
YRLRC0400
6m @ 1.61g/t Au from 36m incl.
-1m @ 5.35g/t Au from 39m
YRLRC0402
8m @ 0.74g/t Au from 36m incl.
-1m @ 3.77g/t Au from 37m
Cross Section
location (Figure 1)
YRLRC0403
8m @ 0.48g/t Au from 53m incl.
-1m @ 1.71g/t Au from 57m
YRLRC0425
6m @ 0.47g/t Au from 238m incl.
-1m @ 1.12g/t Au from 239m
Success
Open Pit
YRLRC0405
17m @ 0.44g/t Au from 61m incl.
-3m @ 1.57g/t Au from 65m
YRLRC0406
1m @ 1.74g/t Au from 43m
YRLRC0404
1m @ 1.61g/t Au from 25m
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Figure 3 – 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 2) and proposed follow-up high-impact RC drilling traces.

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Parmelia Prospect

Five holes for 536m were completed at the Parmelia and Anomaly 37 prospects. Hole YRLRC0419 successfully confirmed high grade mineralisation extends at least 100m beyond the limits of the historic Parmelia open pit (Figures 1, 4, 5 & 6). Highlights include;

• ➢ 2m @ 4.81g/t Au from 178m and 6m @ 2.09g/t Au from 203m including 2m @ 5.22g/t from 206m (YRLRC419)

• ➢ 5m @ 1.79g/t Au from 93m including 1m @ 5.29g/t from 93m (YRLRC421)

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B B’
Proposed
RC Hole
Historic drilling
too shallow
OPEN
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 Lode
Primary Target
(~200m below
base of pit)
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Figure 4 – Parmelia prospect schematic cross section plan (B – B’, refer Figure 5 for location) with recent and historic drill traces, grades and interpreted weathering domains.

The area beneath the Parmelia pit has received very little or no drilling to specifically target depth extensions for the entire ~600m strike length of the known mineralisation. The limited drilling appears to be too shallow to intersect the east dipping lodes or were of a reconnaissance nature completed at the initial stages of exploration.

Challenger Prospects

Thirteen holes for 1,397m were completed at the Challenger North, South, Central, Way South and Anomaly 33 prospects to confirm and extend historic mineralisation. Holes were completed at depths between 23162m and upgraded the prospectivity of several prospects (Figures 1 & 6). Highlights include;

• ➢ 7m @ 2.59g/t Au from 84m including 5m @ 3.56g/t and 1m @ 10.58g/t from 84m (YRLRC409) ➢ 10m @ 1.65g/t Au from 81m including 6m @ 2.53g/t and 1m @ 8.95g/t from 81m (YRLRC410)

• ➢ 10m @ 1.79g/t Au from 107m including 1m @ 6.26g/t from 107m (YRLRC414)

• ➢ 6m @ 2.75g/t Au from 54m including 1m @ 10.06g/t from 57m (YRLRC416)

• ➢ 14m @ 1.22g/t Au from 29m including 1m @ 5.48g/t from 39m (YRLRC424)

• ➢ 19m @ 1.27g/t Au from 39m including 1m @ 5.38g/t from 54m (YRLRC418)

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YRLRC0406
1m @ 1.74g/t Au from 43m
YRLRC0419
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
dip extensions
YRLRC0420 for >600m
YRLRC0421
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 5 – 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 3) and proposed follow-up high-impact RC drilling traces.

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Success Prospect
(Refer Figures 2 & 3)
Parmelia Prospect
(Refer Figures 4 & 5)
YRLRC0422
6m @ 0.55g/t Au from 29m incl.
-1m @ 2.15g/t Au from 29m
YRLRC0409
Anomaly 37 YRLRC0422 7m @ 2.59g/t Au from 84m incl.
-1m @ 10.58g/t Au from 85m
YRLRC0410
10m @ 1.65g/t Au from 81m incl.
YRLRC0407 -1m @ 8.95g/t Au from 82m
1m @ 2.32g/t Au from 45m
YRLRC0411
YRLRC0408 5m @ 1.47g/t Au from 118m incl.
1m @ 2.40g/t Au from 30m -1m @ 3.01g/t Au from 121m
YRLRC0412
Challenger YRLRC0415
Prospects YRLRC0413
YRLRC0414
3m @ 5.60g/t Au from 107m incl.
-1m @ 6.26g/t Au from 107m
YRLRC0418
14m @ 1.22g/t Au from 29m incl. YRLRC0416
-1m @ 5.48g/t Au from 39m YRLRC0415 6m @ 2.75g/t Au from 54m incl.
-1m @ 10.06g/t Au from 57m
Anomaly 33
YRLRC0424
14m @ 1.22g/t Au from 29m incl.
-1m @ 5.48g/t Au from 39m
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Figure 6 – Mt McClure project plan with new drill collars, Challenger prospects significant intercept highlights, infrastructure and geological interpretation (Refer Figure 1).

Most holes returned significant mineralisation which is interpreted to dip moderately towards the east which is the case with all the known Mt McClure prospects. The new results are currently being assessed to determine the most prospective targets for high-impact follow-up drilling.

Refer to Table 1 for a list of all RC drilling collar details and significant intercepts >0.10g/t Au for each prospect tested in the December Quarter 2020.

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Next Steps

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

• Design and prepare follow-up programs for the highest priority high-impact RC drilling at the Mt McClure project;

• Receive and interpret Air-core and RC assays from the Gordons (Gordons Dam, Star of Gordon, Holloways) and Barwidgee projects (Rosewall and Sims Find) and continue with ground preparation for high-impact RC and diamond follow-up programs across the target portfolio;

• Continue with RC drilling at Sims Find and commence reconnaissance drilling between Flinders Park and Flushing Meadows, along strike from Oblique and Quarter Moon and commence high-impact RC drilling at all prospects;

• Complete dewatering test bore at Flushing Meadows.

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 – RC drill collar locations, depth, orientation and down hole assay results for the Mt McClure 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)
HMS Sulphur Prospect RC Intervals(>0.10g/t Au)
YRLRC0400	6955469	296181	60	-60	257	17	18	1	0.14
						22	23	1	0.16
						36 42		6 1.61
				including		38 40		2 3.59
				including		39 40		1 5.35
YRLRC0401	6955339	296264	96	-60	257	73 90		17 1.74
				including		73 84		11 2.56
				including		76 84		8 3.25
				including		82 84		2 9.31
				including		83 84		1 12.24 12.06
YRLRC0402	6955327	296224	60	-60	257	28	30	2	0.38
						36 44		8 0.74
				including		37 38		1 3.77 3.69
Success Prospect RC Intervals(>0.10g/t Au)
YRLRC0403	6955211	296619	90	-60	257	46	47	1	0.29
						53 61		8 0.48
				including		57 58		1 1.59 1.71
						66	67	1	0.10
						77	79	2	0.46
YRLRC0404	6954335	296608	60	-60	257	24 28		4 0.44
				including		25 26		1 1.53 1.61
						46	48	2	0.16
YRLRC0405	6954359	296717	90	-60	257	61 78		17 0.44
				including		65 68		3 1.57
				including		67 68		1 1.57
YRLRC0406	6954098	296916	66	-60	257	42 46		4 0.59
				including		43 44		1 1.74
						50	51	1	0.16
YRLRC0425	6954942	296818	258	-60	257	1	2	1	0.11
						41	42	1	0.12
						93	94	1	0.13
						105	110	5	0.19
						119	120	1	0.11
						194	195	1	0.10
						232	233	1	0.24
						238 244		6 0.47
				including		239 240		1 0.99 1.12
						249	250	1	0.11
Challenger North Prospect RC Intervals(>0.10g/t Au)
YRLRC0407	6949798	299207	60	-60	257	32 34		2 1.02
						39	40	1	0.11
						45 49		4 0.70
				including		45 46		1 2.32
YRLRC0408	6949691	299294	60	-60	257	29 32		3 0.94

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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		30 31		1 2.35 2.40
						42	47	5	0.22
YRLRC0409	6949639	299426	120	-60	257	27 28		1 1.02
						84 91		7 2.59
				including		84 89		5 3.56
				including		85 86		1 5.77 10.58
				including		88 89		1 3.83
						94	95	1	0.27
YRLRC0410	6949605	299441	120	-60	257	7	8	1	0.10
						31	32	1	0.12
						35	36	1	0.20
						50	51	1	0.28
						81 91		10 1.65
				including		81 87		6 2.53
				including		81 83		2 6.31
				including		82 83		1 8.95
						94 103		9 0.82
				including		97 98		1 6.21
Challenger Central Prospect RC Intervals(>0.10g/t Au)
YRLRC0411	6949285	299634	162	-60	257	20	21	1	0.13
						33	34	1	0.25
						76	77	1	0.38
						116 131		15 0.71
				including		118 123		5 1.47
				including		121 122		1 3.01
				including		129 131		2 1.03
						153	154	1	0.12
YRLRC0412	6949258	299641	156	-60	257	71	72	1	0.45
						115	120	5	0.12
						124	126	2	0.27
						142	143	1	0.16
YRLRC0415	6949166	299640	150	-60	257	29	34	5	0.16
						37	39	2	0.71
						68	70	2	0.38
						87	90	3	0.21
						101 108		7 0.33
				including		107 108		1 1.32 1.28
Challenger South Prospect RC Intervals(>0.10g/t Au)
YRLRC0413	6949034	299692	150	-60	257	101 113		12 0.31
				including		101 102		1 3.47
				including		110 111		1 1.22
YRLRC0414	6948979	299709	150	-60	257	88	93	5	0.36
						107 117		10 1.79
				including		107 110		3 5.60
				including		107 108		1 6.26
				including		108 109		1 5.95 5.77
				including		109 110		1 4.60 4.44

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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)
Anomaly 33 Prospect RC Intervals(>0.10g/t Au)
YRLRC0416	6947486	300314	102	-60	257	54	60 6 2.75
				including		55	58 3 5.12
				including		57	58 1 9.69			10.06
						65	73 8 0.82
				including		72	73 1 4.70			4.55
						80	81	1	0.51
YRLRC0417	6947436	300299	23	-60	257		Abandoned
YRLRC0424	6947439	300309	72	-60	257	29	43	14	1.22
				including		29	33	4	1.94
				including		39	40	1	5.17	5.48
						53	56	3	0.12
Challenger Way South Prospect RC Intervals(>0.10g/t Au)
YRLRC0418	6948654	299682	72	-60	257	39	58	19	1.27
				including		40	44	4	1.97
				including		47	51	4	1.49
				including		53	55	2	4.07
				including		54	55	1	5.38	5.11
Parmelia Prospect RC Intervals(>0.10g/t Au)
YRLRC0419	6953044	297670	210	-60	257	178	180	2	4.81
						183	184	1	0.10
						203	209	6	2.09
				including		206	208	2	5.22
				including		206	207	1	7.13
YRLRC0420	6952865	297707	150	-60	257	11	12	1	0.13
YRLRC0421	6952837	297701	150	-60	257	93	98	5	1.79
				including		93	95	2	3.94
				including		93	94	1	4.97	5.29
						120	128	8	0.68
				including		120	121	1	3.04	3.23
Anomaly 37 Prospect RC		Intervals(>0.10g/t Au)
YRLRC0422	6951152	298396	60	-60	257	29	35	6	0.55
				including		29	30	1	2.02	2.15
YRLRC0423	6951016	298462	66	-60	257	41	42	1	0.10
						45	46	1	0.14
						64	65	1	0.12

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’.

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Appendix 1 – Mt McClure 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 scoop being thrust to the bottom of the sample bag which is laid
techniques	or specific specialised industry standard measurement tools		out in individual metres in a plastic bag on the ground. For RC drilling 1m single splits taken using riffle
	appropriate to the minerals under investigation, such as down		splitter at time of drilling, if 4m composites are anomalous (>100-200ppb), 1m single splits are submitted
	hole gamma sondes, or handheld XRF instruments, etc.). These		for analyses. Average sample weights about 3.0-4.0kg for 4m composites and 3.0-4.0kg for 1m
	examples should not be taken as limiting the broad meaning of		samples.
	sampling.	•	Historical drilling at Mt McClure areas is highly variable with initial composite sample intervals usually
			being between 3 and 4m collected from samples laid on the ground (RAB and AC) or collected in sample
			bags with the composites taken either via spear sampling or splitting (RC). 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 RC drilling regular air and manual cleaning of cyclone to remove hung up clays where present.
	representivity and the appropriate calibration of any		Routinely regular standards are submitted during composite analysis and standards, blanks and
	measurement tools or systems used.		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 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
			highlyvariable dependingon the operator. Standards & replicate assays taken bythe laboratory.
	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 210m.
	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 or plan for
			comparison purposes, they are historical and derived from multiple operators hence there is
			inconsistency in sample size, assay methodology and QAQC procedures along with 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. 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 programs with a representative sample placed into chip trays. Historic geological logging has been undertaken in multiple ways depending on the drilling method, the
	The total length and percentage of the relevant intersections		geologist logging the holes and the exploration company. Most exploration was undertaken using a
	logged.		company defied lithology and logging code however this was variable for each explorer. Some of the
			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 commercialprocedures,reproducibilityand accuracy. These comparisons were deemed

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Criteria	JORC Code explanation	Commentary	Commentary
	Nature of quality control procedures adopted (e.g. standards,		satisfactory. A number of samples have been selected for future analyses using different techniques for
	blanks, duplicates, external laboratory checks) and whether		comparison purposes.
	acceptable levels of accuracy (i.e. lack of bias) and precision	•	Historical assay data used various laboratory techniques and laboratories. QAQC procedures are
	have been established.		variable and additional validation work on the QAQC samples is required.
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 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 be valid for this stage of exploration.
		•	Historical drilling was located using various survey methods and multiple grids including local grids,
			AMG,Latitude and Longitude.
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 hole spacing and depths are highly variable. The
			locations of relevant drilling with significant intersections are shown by coloured grade bin on plans for
			comparison purposes to current RC drilling. There are no JORC 2012 Mineral Resource Estimates
			within theproject.
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 samplingbias. Given the style of mineralisation and drill

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Criteria	JORC Code explanation	Commentary	Commentary
	introduced a sampling bias, this should be assessed and		spacing/method, it is the most common routine for delineating shallow gold resources in Australia.
	reported if material.	•	Angle holes are the most appropriate for exploration style and Resource style drilling for the type and
			location of mineralisation intersected. A significant number of historic holes in the database of a
			reconnaissance exploration nature were drilled vertically and shallow which in Mr Saul’s opinion suggest
			theywerelargelyineffective.
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, QAQCprocedures 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 M36/691, 692 and 693. There is a royalty payable to Northern Star
tenement and		including agreements or material issues with third parties such		Resources Ltd equal to 1% of the gross sales proceeds from minerals recovered by Yandal Resources.
land	tenure	as joint ventures, partnerships, overriding royalties, native title	•	The tenements are in good standing and no known impediments exist.
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 Great Central Mines, Normandy Mining, Oresearch, Newmont,
done by other				Australian Resources Limited, View Resources, Navigator Mining and Metaliko Resources.
parties
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 and minor sulphides in a dolerite host rock.
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 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 diagrams are shown in the report of all drilling collars in close proximity to the new drilling for exploration context in Figures 1-6. 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 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 as some oxide is steeply dipping.
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 1-6 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 1-6.
	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 the Success, Parmelia and Challenger
substantive	reported including (but not limited to): geological observations;		prospects.
exploration	geophysical survey results; geochemical survey results; bulk	•	There has been historic mining at the Success, Parmelia and Challenger prospects via open pit methods
data	samples – size and method of treatment; metallurgical test		in the 1990’s.
	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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