Ann: June 2024 Quarterly Activities & Cashflow Reports, page-2

Really excited for these guys to start drilling soon. The Achilles 1 target shares so many features in common with AGC's discovery at Achilles 3:

1. Both related to the Achilles shear structure
2. Both have soil geochemistry anomalies with similar levels of anomalous metals content
3. Both have cross cutting faults along the Achilles sheer structure (providing conduits for mineralised fluids to flow to surface)
4. Both have chargeability anomalies at depth

AGC's latest investor presentation refers to no. 4 above as the "bigger picture" (see slide 11). This is a reference to the likelihood that the near surface mineralisation that has been discovered at Achilles 3 is related to a deeper and larger source of (potentially higher grade) mineralisation, which has not yet been drilled. Plenty more to play out for AGC's discovery at Achilles 3 but SER's Achilles 1 target is an incredibly similar analogue.

All IMO and GLTAH.