HIGHLIGHTS OF HALF YEARLY REPORT :Butcher's Creek Western...

HIGHLIGHTS OF HALF YEARLY REPORT :

Butcher's Creek Western Australia:

-Results from the Company’s 2020 drilling program spectacularly confirmed the extension of the orebody for over 350m to the southwest of the historic open pit, and remaining open at depth, providing an exciting drill target for further exploration in 2021.

-As previously reported, historic drilling and final pit surveys indicate very thick zones of gold mineralisation remain in the floor and immediately under the Butchers Creek Open Pit. The intercepts from the hinge zone and the limbs of the anticline listed above confirm thick, robust zones of mineralisation (particularly in the hinge region) extend south along strike from the bottom of the pit for 360m.

-Resource estimate leading to scoping and feasibility studies planned for 2021.

Juruena Brazil:

-In October, assay results from diamond drill holes JUDD028-032 at Dona Maria confirmed that high-grade gold mineralisation continues below the base of the current resource and also confirms the continuation of mineralised gold grades and widths in poorly drilled areas of the existing resource at Dona Maria.

-The Mineral Resource Estimate for Juruena will be updated in early 2021 with results expected shortly!

Giant IP Anomaly:

-The preliminary results identified a large, high response chargeability anomaly in the IP survey. The chargeability anomaly had very high response levels (ie is highly chargeable) and in turn, is very large with a long axis of very high chargeability (>20mv/v) over 1km.

-The top of the chargeability anomaly lies approximately 500m below surface and is open at depth and to the NW where it approaches the Arrasto Hills Volcanic Center, thus defining an excellent drill target for 2021. 3 holes of 1200 metres will be drilled.

-Detailed geological work since the acquisition of the project in 2019 including: structural analysis, geochemical vectoring and the presence of hydrothermal breccias in the Juruena Faults already confirmed the potential of this area as the source of the metals (copper and gold) observed across the project.

-The chargeability anomaly is NOT coincident with the MVI anomaly from the 3D inversion of the magnetics, hence is NOT interpreted to correlate with magnetite but is likely generated by elevated sulphides associated with potential Cu-Au porphyry mineralisation.

-A combination of historic studies on the Project and the current database of information collated from recent programs shows that the Juruena high-grade Epithermal gold deposits are most likely part of a much larger magmatic-hydrothermal system, which encompasses several different gold and base-metal related deposits.