Ann: High Grade Copper-Gold Potential Confirmed at Bronze Fox, page-4

Suspect a main reason they are completing IP/gravity surveys (rather than drill 5 drill holes through trending outcropping), is because of our "porphyry" neighbour's experience with the Kharmagtai Project. Firstly, it is a cost-effective tool in giving you a look at "mapping" depths of up to 100m. Secondly, XAM has had a better probability of success when utilising this approach (along with the many exploration methods utilised before drilling). If you look at the Kharmagtai story over some years, Ivanhoe (inc sub div Asia Gold) performed quite a bit of work during 2001-2012 when non core assets were eventually sold off in 2015 (obviously to focus on Oyu Tolgoi). XAM came in with a different approach to try & understand the many complexities of the area. In their words, 'understanding the geology is the key". Xijin obviously know the potential of the area & agree there are still many targets including a probable deep source. Worth a look at a 2021 presentation :https://smedg.org.au/wp-content/uploads/2021/05/Kharmagtai-Gold-Rich-Porphyries-Mongolia.pdf .

It appears, OB1 have modelled their approach on XAM'S initial strategy - locate a high grade open pit starter target or two & add potential feed from one or more of the other clusters. Hopefully bring in a major (if you can achieve a favourable economic result). As i have said before, West Fox is an interesting target (Average grade of 8.8g/t gold from 39 rock chip samples with 16 greater than 1g/t. Results include: 118g/t gold with 0.33% copper; and, 34g/t gold with 0.86% copper). Shuteen hopefully can deliver a favourable result to keep exploring this promising area where there are still many target possibilities (including the deeps). Looking at these targets with great interest along the high grade extension possibilities.

It's tough & costly searching for economic porphyries but I personally see enough here to give us a good chance IMO. I am hopefully looking for various constant positives which will then keep adding exploration capital to keep progressing this project to at least a JV status. Have taken up my full allocation & would have grabbed a bit more more at this price if allowed. It is a very high risk project living on a knifes edge but I am happy to watch it unfold hopefully in favour of OB1 investors !