Ann: Drilling and Geophysical Surveys Completed at Tarraji-Yampi, page-50

I am sorry for those reacting to the "no news" today - news that DOES NOT confirm this TY project is a dud at all. Rough day if you are only looking at the share price.

Sleepless nights and getting chased by bush fires, is not and was not, performance enhancing. Yet they diligently (professional and dedicated) got what they could salvage from the investment under harsh conditions. They at least got two good DD holes that will teach them loads about the structure and orientation of Orion. Other work will assist with the net program in 2024 so move on, roll up the sleeves and look at the other projects for now. And the share price gets smashed down 19% over that? WTF guys could this be a player playing on emotions; pushing it down and scooping up cheaper shares?

They are still trying to work out Orion orientation, structure and so forth, in a deformed host environment at this EARLY stage of exploration. Remember Orion was initially a low priority target; which is typical for exploration. Jumping to conclusions is poor science when you do not have sufficient data. That is about it for this announcement; but as some others have stated DRE is a lot more than that. No doubt the mood of the market has enhanced this over exaggerated negative reaction. Sure the delay is frustrating, however emotion should not enter investment decisions.

The panic seems to be subsiding and so I just bought more again. The recent FQM JV Ni discovery is of great interest and, while I am not going to argue with anybody here, the prospectivity was only enhanced a few weeks back. Very early days, and conclusions by both companies directly oppose a certain poster in here. That positive message is based on actual drill results and exploration tools at hand, not lounge chair analysis. Even if highly eloquent, in fact, that can be highly discouraging and damaging if accepted as fact.

One must understand that mag highs do not necessarily coincide with the mineralization. We may see that play out at the MI Ni prospect as indicated by DRE. It is a fertile system, now confirmed and early results are pending. FQM would not have extended that program if it did not at least partially resemble other Ni-Cu project that they have considerable first hand knowledge of (e.g.Kevitsa). That does not mean I am saying this early prospect is another Kevista at all; just like mentions of Cloncurry etc. by DRE. Similarities of; path finder elements and host rocks or scale are useful in discussion when trying to establish a concept. That is the extent of it. This does not mean it isn't that either, at this stage, but worthy of investment just the same.

An example of 'nearmissology' is Dog Leg. Ram missed it even though it showed up as a discreet lower conductance anomaly (hint - FQM + DRE interest in recent Ni results). BUX initially missed it and again with IGO, it was overlooked. Finally in October 2023 they hit the discovery hole. I am trying to assist understanding of the exploration process.

Dog Leg was "seen" in the initial dataset from 2015. Four rounds of drilling and EM over high priority areas by IGO and others missed it. Nothing there; really? Gravity highs are more to do with host rocks in many instances according to a professional geo I just spoke to. I raised that because gold is generally found in negative mag; as deposition takes out the magnetism of the host rock. Stop jumping to conclusions, get rid of emotion and look at the bigger picture here. Other companies missed Yin too.

DRE spotted the Ni prospect and now FQM are seeing the same concept and willing to spend more time and money on it. We have a crack team here, on great tenements, and some success already achieved. The REE, that has far more upside, and Carbs yet to be fully assessed. Then gold and etc., so no reason to panic as value is already apparent in projects and in time TY may still come up trumps too. Despite the panic today I have not changed my mind on DRE but you are entitled to make your own investment decisions.

DYOR CW