Ann: High-grade JORC Inferred Resource at Cangai Copper Mine, page-4

High-grade JORC Inferred Resource at Cangai Copper Mine Exceeds Expectations
 Exceptional high-grade maiden JORC Inferred Resource at unmined working sections in Cangai Copper Mine: 3.2Mt @ 3.35% Cu implying c.108,000 tonnes of contained copper
 On a metal equivalent basis, across key base/precious metals, the results are: CuEq – 4.2%, ZnEq – 9.3%, CoEq – 0.5%, AuEq – 6.9g/t, and AgEq – 503.9g/t
 Maiden JORC Resource at Cangai is amongst the highest grade Copper JORC resources in Australia
 Resource size for Jackaderry Project set to increase substantially with incremental historic assay results and inaugural drilling campaign
 The drilling program, which is slated to commence relatively soon, will target additional supergene ore mineralisation as 3D JORC modelling has confirmed is open in all directions
 CCZ has a key competitive advantage and a clear point of difference with supergene ore, as it should be suitable for direct shipping ore, that can be easily transported to Newcastle port via excellent infrastructure already in place
 3D JORC modelling highlights the potential to develop an open pit mine, keeping extraction costs moderate, that is potentially targeting one of Australia’s highest-grade copper-zinc-cobalt resources
 Re-assaying legacy Cangai Copper Mine core samples for cobalt is progressing – this builds in further exploration upside and potential NPV outcome
***