Ann: Response to ASX Price and Volume Query, page-2

The Company released a Definitive Feasibility Study (“DFS”) for its Sorby Hills LeadSilver Project on 19 January 2023 (the Company is not aware of any new informationthat materially affects the information included in the DFS announcement). The strongresults of the study supported the Company progressing toward a Final InvestmentDecision and a decision to mine.To this end, the Company has recently completed Front End Engineering and Designof the 2.25Mtpa process with preferred contractor GR Engineering Services and is innegotiations with international and domestic traders and smelters with respect toOfftake.

The Company is aware of a positive research report commissioned by Boab Metals andissued by East Coast Research on 4 December 2023 (the Company can confirm thatthe report contains no new information or information that has not previously beenreleased to the market). AKA we paid for pumpers.

The research follows a very significant increase in silver spotprice throughout November and early December. Silver comprises approximately 25%of the Project revenue and previous Company presentations have highlighted thestrong correlation between the Company’s share price and the price of Silver. Boab’srecent AGM presentation (4 November 2023) highlights both near-term and strategicopportunities to expand the Project Resource base and extend mine-life.In addition, Boab recently announced the results from drilling at the “Keep SeismicTarget” (8 November 2023), where intercepts confirmed significant base metalmineralisation, the Company is not aware of any new information that materially affectsthe information included in the announcement of 8 November 2023. The Keep SeismicTarget is 2km from existing reserves at Sorby Hills.