RECOMMENDED TAKEOVER OFFER OF BULLSEYE MINING LIMITEDBY EMERALD...

RECOMMENDED TAKEOVER OFFER OF BULLSEYE MINING LIMITED
BY EMERALD RESOURCES NL
HIGHLIGHTS:
 Emerald to acquire Bullseye via an off-market Bullseye board recommended
takeover Offer;
 Bullseye’s extensive landholding totals in excess of 1,200km2 of highly
prospective licences across 3 gold projects;
 Bullseye’s flagship North Laverton Gold Project (NLGP) covers 800km2 tenure
and captures the entire Dingo Range Greenstone Belt - one of the few under
explored greenstone belts remaining in Western Australia;
 In 2015 Bullseye calculated a JORC 2012 compliant Indicated and Inferred
Mineral Resource Estimate of 276,000oz at 2.51g/t Au to an average depth of
~120m (Maiden Resource);1
 Since estimation of the Maiden Resource, Bullseye has completed 35,000m of RC
drilling (to an average depth of 120 metres);
 The inclusion of results from the completed 35,000m of drilling and extensional
drilling planned for the 2022 calendar year has the potential to significantly
increase the Maiden Resource;
 Emerald has the financial capacity, operational and exploration expertise to
maximise the potential of Bullseye’s attractive portfolio of gold projects;
 Emerald has acquired a pre-bid equity stake of 19.45% of Bullseye;
 Emerald and Bullseye have entered into a Bid Implementation Agreement in
which Bullseye’s Directors unanimously recommend that Bullseye shareholders
accept the Offer, in the absence of a superior proposal; and
 The Offer is subject to a 90% minimum acceptance condition by Bullseye
shareholders.