Ann: Drilling Update for Mt Alexander, page-30

I went looking for what holes they were 'twinning' with holes STD013 and STD014, because for metallurgical samples you need to hit some standard grades that you know already exist. There is nothing wrong about drilling a 'twinned' hole virtually in the same spot as before all companies do it for both metallurgical reasons, and consistency reasons.

The hole MAD85 was drilled at E 232471 and N 6806535, which is 5 metres East and 18 metres North of STD014. It was oriented at 180* and had a dip of 75*. This puts the 2 holes almost intersecting each other, just from slightly different angles.

It's a shame there was only 11* difference in angle approach as a 40*-45* degree approach would have allowed a better understanding of the thickness of this pod of ore, but the purpose of the hole was to get samples, quickly IMHO.

It's important that shareholders don't think that today's announcement is another great hit, as it is really just a repeat of MAD85 from March 2018.

This is the announcement ...
https://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01965264

There are a couple of other holes very close according to the diagram on pg 4, MAD79 in particular, so I'll go looking for them..