Ann: Drilling Identifies Further High-Grade Iron Ore at Bekisopa, page-6

From the Scoping Study we can see the "Green Steel" resource has an average head grade of 45.3%.

The following 13 holes from this campaign have grades of 40% or higher.

The average depth of these holes is approximately 14.57 meters.

There is about 166 meters of "Weathered (oxidised) DSO" iron ore across all of the drilled holes.

The average grade of the "Weathered (oxidised) DSO" sections is approximately 56%.

BEKD152 - 29.47m deep - 44.76% average grade
BEKD156 - 14.70m deep - 47.44% average grade
BEKD159 - 5.41m deep - 58.70% average grade
BEKD160 - 2.65m deep - 53.75% average grade
BEKD161 - 28.60m deep - 42.92% average grade
BEKD187 - 6.55m deep - 45.73% average grade
BEKD200 - 2.58m deep - 44.43% average grade
BEKD213 - 17.61m deep - 50.82% average grade
BEKD214 - 7.34m deep - 49.38% average grade
BEKD216 - 6.95m deep - 52.61% average grade
BEKD218 - 9.65m deep - 54.72% average grade
BEKD219 - 7.52m deep - 50.60% average grade
BEKD222 -1.81m deep - 42.85% average grade

The lower the grades, the less yield, and the higher the costs...

There are 24 holes with average grades between 30% and 40%.

This will likely produce a high grade iron ore - so above 62%, but below 68%, with minimal processing (crushing, screening and magnetic separation).

BEKD149
BEKD150
BEKD151
BEKD153
BEKD154
BEKD155
BEKD157
BEKD158
BEKD175
BEKD177
BEKD180
BEKD185
BEKD188
BEKD189
BEKD190
BEKD191
BEKD192
BEKD195
BEKD196
BEKD199
BEKD203
BEKD205
BEKD212
BEKD217

And there are 17 holes with grades between 20% and 30%

And 20 holes with grades under 20%