Ann: Majestic Resource Growth and Works Approval Granted, page-4

Works Approval has been granted for the construction of the planned 800ktpa processing facility at
Majestic.

They are saying that further underground drilling at Majestic will come from underground when they are mining. They would know its there from previous deep holes and its a much cheaper way to drill as they mine. This is what i mean about not needing big reserves. You know the gold is there. You need enough to prove the projects viability and then just add as you mine like Silverlake does. That is why these types of deposits can go on for years. Mine life is not going to be a problem and bc8 has more than one of these.

Black Cat’s total Resources at Kal East have grown to 18.3Mt @ 2.2 g/t Au for 1,272koz. No end in sight here imo. Everything remains open. That is plenty of grade to print the old cash-o-la with this gold price imo. Looking forward to the projects numbers hitting the deck.

Gold price currently A$2580. That is a recent rise of about $100 per ounce.

Black Cat’s Managing Director, Gareth Solly, said: “Our Resources continue to grow in size and confidence
with maiden Ore Reserves expected in the March 2022 quarter. Good progress continues with government
approvals. The only outstanding permit required for mine development and mill construction is the tailings
storage facility mining proposal, which is also anticipated this quarter.
We expect the planned Majestic underground to be a high-grade, long term producer in the shadow of the mill.
After mining has commenced, continued Resource growth is expected from underground drilling.”