Ann: March 2020 Quarterly Activities and Cashflow Reports, page-2

Highlights :

March 2020 Quarterly Activities Report Highlights for the March 2020 Quarter•

CGG undertaking a detailed review of the 1D inversion results from the magnetotelluric (MT) survey at Horse Well to produce a 3D inversion model for enhanced target definition prior to deep drilling.•

An extensive soil geochemistry survey (>450 samples) was conducted over the southern part of the Pernatty C area to further investigate potential for “Mt Gunson style” mineralisation.•

A Resistivity and Induced Polarisation (IP) survey was conducted over the southern part of the Pernatty C area to support potential for “Mt Gunson style” mineralisation.•

Key tenements (EL6118, EL6119 & EL6120) in the Lake Torrens area were successfully renewed (without size reduction) with all tenements in the project area in good standing.•

All tenements within the Horse Well and Pernatty C (Mt Gunson) areas were maintained in good standing with no reductions in area.•

All tenements in Queensland (Wee MacGregor, Mt Gordon, Success and Mt Cobalt) were maintained in good standing and included a partial relinquishment (14 sub-blocks) of ground at Mt Cobalt.•

Mining Proposal and Mine Closure Plan for the Pyramid Lake (WA) gypsum project continued to advance with key Flora, Fauna and Invertebrate studies completed.

Cohiba Minerals Limited (‘Cohiba’ or ‘the Company’) provides below an update in relation to the exploration activities carried out during the March 2020 quarter.Olympic Domain TenementsHorse Well AreaThe 1D inversion results from the magnetotelluric (MT) survey conducted at Horse Well