Ann: December 2022 Quarterly Activities & Cashflow Reports, page-3

Just an update for anyone who missed the last drill results from our NE neighbours, Tin One - Great Pyramid project (we have the adjoining Scamander & Pinnacles tenements) :

# Chris Donaldson, Executive Chairman. “The results of the program have been outstanding in delivering consistent tin intersections from within the area of historical activity and, importantly, outside this area. These results and geological interpretation indicate that the Great Pyramid
system is of significant scale and has only been partially tested, to date. Our geological team is developing its detailed interpretation and will be using this information to plan our next phases of drilling which will be focussed on fully testing the system.”

• 22GPRC012 78 metres @0.51% Sn
• 22GPRC016 51 metres @0.29% Sn
• 22GPRC021 14 metres @0.36% Sn
• 22GPRC022 15 metres @0.45% Sn
• 22GPRC003 - • 18 metres @0.31% Sn from 308 metres downhole
• 5.4 metres @0.46% Sn from 330.6 metres downhole
• 13 metres @0.22% Sn from 359 metres downhole
• 22GPRC006 - • 49 metres @0.17% Sn from 65 metres downhole
o Including 8 metres @0.3% Sn from 86 metres downhole

# "It is highly significant that in most respects (mineralogy, metal association, alteration character), the Great
Pyramid system conforms to the granite-related model, yet no granite has yet been encountered in the
project area".

# "TinOne has engaged a PhD-trained expert in the structural geology of northeastern Tasmania and a PhDtrained expert sedimentologist to work together with the TinOne team and an external resource geologist to develop an integrated structural-sedimentological-geostatistical model. This model will inform additional drilling, principally targeting lateral extensions and a resource estimation at the appropriate time".

# Good news for us that this program is still active & very promising. They hold a small area of the NE trending corridor & we can now wait patiently for the next stage of drilling to be completed. This should give us some confirmation on the true worth of the project & also see if they target the highly likely granite source/s. Interesting side play for the moment with our pending MRT drill grant still valid for some time on these adjoining tenements. Tin One has Inventa (institutional partner) on board complimented by a very large team of specialists - JV eventually or sold off if results go our way ???? Another optionality play for us - eventually hoping that something goes our way on one or on multiple fronts GLTAH