Ann: Priority Nickel Copper Cobalt targets identified-CZN.AX, page-2

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Key facts:
 Fraser Lake Complex (FLC) Induced Polarisation (IP) survey identifies:
o 20 high-priority targets defined with very strong-IP anomalies
 12 targets interpreted to come close to surface (under shallow cover)
 Most display good depth extents (+700m below surface)
o More than 30 second-order targets with strong-IP anomalies
 Walk up drill targets identified
 Chargeability IP anomalies trend off survey area, towards interpreted feeder zone to the intrusive complex – an untested Voisey’s Bay style target
 FLC is only 5km from Lynn Lake, historically one of Canada’s most prolific nickel producing mining centres:
o FLC twice as large as the Lynn Lake host intrusion, and
o Anomalous in nickel-copper sulphides (past sampling and drilling)
 Targets predominantly under shallow cover.