Ann: Deep Drilling Yields Major Conductive Copper Target, page-18

EXPENDITURE PLAN

Planned expenditure1 of ~$10M for the next 12 – 18 months

• OrangebasedExplorationTeamof5FTand2PTGeologists + Field Technicians

• >50%onDirectDrillcosts&c.90%onExplorationactivities

Near-term news-flow:

Canbelego Main Lode

• Deep drilling; visual results - Dec (ongoing) • Downhole geophysics (EM) - Dec (ongoing) • Assays–Jan-Feb’23(ongoing)• Drilling–ongoing(subjecttoresults)

• Mineral Resource estimate - March quarter (subject to results)

CZ Advanced Copper Project (March quarter)

• Preliminarymetallurgicaltestworkoutcomes• Updatedgeology,targetzonesandplanneddrilling

Regional (subject to access)

• Targetdrilltests;Caballero&Quanda–Marchquarter • VTEMReview&newsurveyplans–Dec-Jan• Prospectresults/generation–Jan’23onwards

(impacted by rain/flooding events)

Nickel-Cobalt

• Drill plans - Dec• IonickMetalsbusinessplan–Jan-Feb