Ann: Tanbreez High Grade Deep Diamond Drill Results, page-5

S-K 1300 (Regulation S-K 1300) and JORC 2012 are both mineral resource reporting standards used in the United States and Australia, respectively. While they share some common ground, they also have key differences, particularly in their focus and the level of detail required for disclosure. S-K 1300 emphasizes investor protection, potentially leading to more detailed, but possibly less user-friendly, disclosures compared to the JORC 2012 code, which focuses on providing clear and accurate information to investors.

Key Differences:

• Focus: JORC 2012 focuses on providing a transparent and accurate representation of mineral resources for investors to make informed decisions.
• Detail:

  S-K 1300 requires more detailed economic analysis for mineral reserve disclosure compared to JORC and NI 43-101, according to LinkedIn.
• Materiality:

  JORC 2012 uses the concept of "materiality" in reporting, requiring that significant changes in estimates be disclosed. S-K 1300 also considers materiality, but with a more prescriptive approach.
• Competent Person:

  Both S-K 1300 and JORC 2012 have requirements for Competent Persons, but S-K 1300 may be less specific on the definition of a Competent Person, according to AusIMM.
• Economic Viability:

  The JORC classification requires the reporting of reserves, which are economically viable deposits with high geological confidence confirmed through studies at least to a pre-feasibility level. S-K 1300 also addresses economic viability, but with a more prescriptive approach.

In summary, S-K 1300 provides a more detailed and prescriptive approach to mineral resource reporting compared to the more flexible and principles-based JORC 2012 code. While both standards aim to protect investors, S-K 1300's focus on detailed economic analysis and material disclosures can lead to a more complex reporting process compared to JORC 2012.