Ann: Drilling Commences at Spur Project, page-14

With reference to the announcement dated 5 December 2023 “Reprocessed geophysics upgrades Spur gold target”, page 3 points out three historical holes that nicked /brushed the red zone interpreted to be the inner red rock zone of the porphyry target. Page 4 shows the core photos that validate the inner zone has been intersected. The red zone on the reinterpreted geophysics in this announcement is the pink/ purple resistive zone in the most recent presentation dated 4 March. This resistive zone is interpreted to be the reddened inner propylitic shell surrounding a possible high grade au/cu core. Core photos from the bottom of SD010 confirm the resistive area is the inner zone. Look at the right two core photos. That is the rock you expect to see around the high grade core, based on the working model.

If you zoom into the image on the bottom left of slide 7 of the March 4 presentation you can see the first two proposed hole drill traces (green lines) go into the pink/purple zone in search of the possible high grade au/cu core. These are deeper diamond holes. They are essentially step outs from SD010 moving south and are deeper than SD010. My view is if Peter’s resistive zone was processed/ mapped and known when SD010 was drilled, the owner at the time, Golden Cross, would have extended SD010 but they didn’t know what they had or the significance of the core.

In summary, some historical holes have brushed this resistive zone and core photos from these holes validate the current exploration model as not just hypothetical. The 2-3 deeper diamond holes being drilled first in the current drill program (that we are waiting on assays for) are drilled into this pink/purple zone.

IMHO, DYOR etc, etc…