Ann: Drilling to commence at Golden Cup, page-14

Guys I think you're being a bit harsh on GNM given they raised money for this year's drilling campaign to commence in early 2022 and North Queensland was hit with 2 months' worth of rain which virtually stopped almost all exploration in North Queensland (got a similar story from my other North Queensland explorers I hold).

Then the drillers I'm told were not accepting new work as they were 2 months behind on their existing drilling programmes.

Then they got another bout of floods which cost explorers another month.

My guess is most explorers up in Northern Queensland are between 3-5 months behind in their drilling programmes.

I asked an explorer if these floods had allowed the assay labs in Townsville to catch up. They said no because they have been hit by staff resignations, COVID, and the flu going around and are severely short-staffed. So, what used to take roughly 3 weeks to get assay results back now can take up to 2 months to get results back.

So yes, have your own opinion of GNM management, but I can vouch from other explorers up in North Queenslands that there had been unfortunate circumstances causing delays in the first half of 2022 for almost all explorers in parts of North Queensland.