Ann: Quarterly Activities Report, page-4

Drum Mining Project

"The focus of Alderan’s exploration efforts in the Drum Mountains is to discover a Carlin-like gold deposit. As a
result of detailed geological mapping and geochemical sampling, several other styles of mineralisation are
potentially within the claims, including intrusive related gold, skarn, and an unusual quartzite breccia which has
geological affinities with the Marigold mine in Nevada1. Alderan’s review of results from a ground magnetic
program integrated with the surface geological and geochemical mapping at the Mizpah prospect has identified
two intense magnetic anomalies.

Alderan designed a drill program which commenced on 15 October 2020. Alderan will drill a minimum of six holes
for 1,200m in its maiden drill program at Detroit, aiming to test gold-related sulphidisation intersected which was
identified by the Company’s review of historical drilling at the project. The drilling will test the full thickness of the
reactive “dirty limestone” stratigraphy beneath and down-dip of the Mizpah oxidised gold mineralisation, as well
as known gold mineralised intrusives and skarns that are reflected in the ground magnetics.

Two diamond drill holes have been drilled to date, with the rig currently on the third hole. The first hole was a
test on Carlin-like mineralised position, the second targeted intrusive related mineralisation. The third hole is
testing a Marigold target. The rig is being monitored continuously and geological logging and sampling is being
completed. Efforts are being made to fast track assaying of drill samples."


>> Sounds like they will do more drilling if positive assay results are return soon.


"Other activities
Alderan continues to appraise other opportunities."