Ann: Quarterly Activities/Appendix 5B Cash Flow Report, page-2

*The uploaded document is the Quarterly Activities Report for Kingfisher Mining Limited (KFM), covering the period ending September 30, 2024. Below is a summary of the key information:

Exploration Highlights

1. Mick Well Project (Rare Earth Elements - REE):

   • Co-funded diamond drilling intersected new REE lodes and significant carbonatite-related alteration zones.
   • Both drilled holes (MWDD001 and MWDD002) encountered disseminated copper sulphides, quartz veining, and pegmatites, indicating broader mineralization potential.
   • The Mick Well carbonatite system shows promising signs of a larger mineral system at depth.

2. Ring Well and Kingfisher Prospects (Base Metals):

   • Surface sampling yielded high copper values of 20.2% and 21.6% Cu over a 44m strike zone at Ring Well.
   • Additional samples from the Kingfisher prospect recorded copper values up to 15.3% and traces of gold (0.6 g/t).

3. Exploration Strategy and Future Plans:

   • The company is evaluating further base metal and gold opportunities, including volcanogenic massive sulphide (VMS) potential.
   • Further geophysical analysis and potential drilling are planned to explore deeper mineralization.

Project Portfolio Overview

• Kingfisher holds 938 km² of tenements in the Gascoyne Mineral Field, Western Australia, focusing on:
  • Rare Earth Elements at Mick Well and Lockier Shear Zone (LK1 project).
  • Lithium exploration at the Chalby Chalby project, which identified stacked pegmatites with lithium soil anomalies.

Financial Overview

• Cash position: $828,000 at the end of the quarter.
• Total liquidity: Approximately $1.75M, including investments in Black Cat Syndicate Ltd (ASX: BC8).
• Exploration spending: $333,000 during the quarter.
• The company expects a government grant refund of $200,000 under the Exploration Incentive Scheme (EIS) in the December quarter.

Company Outlook

• Kingfisher intends to focus on further exploration at Mick Well and Ring Well while managing its cash carefully.
• The company believes additional funding is accessible if required through equity financing or liquidating investments.

This report reflects Kingfisher Mining's active pursuit of both rare earth elements and base metals exploration, with a promising outlook for further discoveries in underexplored areas.

Based on the Quarterly Activities Report for Kingfisher Mining Limited (KFM), several exploration activities are ongoing, but the report does not specify an exact due date for drilling or assay results. However, here are key timelines and upcoming expectations:

1. Ring Well and Kingfisher Prospects:

   • Surface samples with high copper grades have been collected. The report mentions further assays and geophysical surveys are planned, but no specific date is given for when these will be finalized.

2. Mick Well Project:

   • The co-funded diamond drilling program has been completed, with some assay results pending for copper, lithium, and REE samples from MWDD001 and MWDD002.
   • Typically, assays take several weeks to a few months, so results may arrive in the December quarter.

3. Government EIS Grant Refund:

   • An up to $200,000 refund from the Exploration Incentive Scheme (EIS) is expected by the end of December 2024. This timing could coincide with the next batch of assay results or exploration updates.

Summary

The next set of assay results and exploration updates are likely to be released in the December quarter (October–December 2024). Keep an eye on announcements from Kingfisher Mining around the end of November or early December for specific updates.
*GPT4o