Ann: Quarterly Activities and Cashflow reports - 31 March 2021, page-3

Highlights page:

• Fully funded 40,000m drill programme commenced at the Cortadera copper-gold discovery in Chile, with three rigs in operation

• Significant new drill results have confirmed continuity and extensions to the high grade core of the Cuerpo 3 main porphyry, with the seventh world-class drill result returned from Cortadera

• Results of fourteen drill holes for approximately 6,700m of drilling are pending

• On track to deliver a significant upgrade to Cortadera’s 451Mt maiden resource later this year

  4km Long Copper Porphyry Footprint Secured Next to Cortadera – Santiago Z

• A new landholding named Santiago Z has been consolidated, 5km south of Cortadera

• Santiago Z boasts a large historical soil molybdenum anomaly, double the size of Cortadera

• Exploration efforts have identified and confirmed Santiago Z as a large-scale copper porphyry footprint, which has never been drill tested

• Further exploration work programmes are planned ahead of first pass drill testing later in 2021

  Cortadera Acquisition Nears Completion

• US$10 million payment satisfied to acquire Cortadera from private Chilean mining group SCM Carola, bringing total payments to US$17 million since February 2019

VAT Refund Approval from Chilean Tax Authority and Strong Cash Position

Boost Hot Chili’s cash position by up to A$4 million Current cash position of A$9.5 million

But of interest is this I feel:

Seven deep RC holes have been completed at Cortadera North this quarter and a further four deep RC drill holes and two diamond tails are planned to be completed. The RC drill rig is currently completing pre-collars for diamond holes at Cortadera and is planned to be mobilised back to Cortadera North during May.

No significant results have been recorded so far, however the Company is encouraged by broad results of pathfinder elements being recorded, such as 124m grading 1.3g/t silver from 92m depth down-hole in drill hole CRP0079.

Drill Results:

Cortadera's most significant drill intersections to date:

• 972m grading 0.5% copper and 0.2g/t gold from surface in CRP0020D

  (including 412m grading 0.7% copper and 0.3g/t gold),

• 750m grading 0.6% copper and 0.2g/t gold from 204m down-hole depth in CRP0013D

  (including 188m grading 0.9% copper and 0.4g/t gold),

• 848m grading 0.4% copper and 0.2g/t gold from 112m down-hole depth in CRP0011D

  (including 184m grading 0.7% copper and 0.3g/t gold),

• 864m grading 0.4% copper and 0.1g/t gold from 62m down-hole depth in FJOD-23

,• 813m grading 0.4% copper and 0.1g/t gold from 54m down-hole depth CRP0061D,(including 318m grading 0.6% copper and 0.2g/t gold)NEW RESULT

• 649m grading 0.4% copper and 0.1g/t gold from 328m down-hole depth in CRP0029D (including 440m grading 0.5% copper and 0.2g/t gold),

• 596m grading 0.5% copper and 0.2g/t gold from 328m down-hole depth in CRP0017D (including 184m grading 0.7% copper and 0.3g/t gold), and

• 542m grading 0.5% copper and 0.2g/t gold from 422m down-hole depth in CRP0040D (including 218m grading 0.7% copper and 0.2g/t gold)