Ann: Northern Pilbara Tenements Acquired - Correction, page-9

This was always the concern with AC drilling but in my opinion these are excellent first pass results.
Below statement is encouraging and looks to align with similar results DEG encountered in their first Hemi drill program back in 2018-19.
With average drill depth at 31.3m and encountering low level gold mineralization at bottom of holes, this indicates that we are on the right path. Geos have done a good job in locating targets over the large area of tenements we have available.
Most of the Hemi style intrusions are not hitting high grade results up until 60-200m in depth. Defiantly out of limit for our AC drilling program but a good start and worthwhile following up with RC drilling.

"The Phase 1 drilling program was planned to comprise 40 holes for a total of 2,800m. However, due to
limited depth capability of the rig which was available at the time only half of the planned metres of the
program were completed during this campaign. Follow up drilling with a more powerful Reverse Circulation
rig is now being planned for later this year.

Importantly, whilst most of the modelled magnetic targets remain untested several of the holes
encountered previously unrecognised mafic-ultramafic rocks and low-level gold and base metal
geochemical anomalism in bottom of hole samples. Mafic and ultramafic rocks such as these are a key
feature of the geological setting at Hemi and their identification in first pass regional scale scout drilling
within NAE’s tenure is considered highly encouraging."