Jorc 2012 Resource Table - Black Cat (100% Owned)

Jorc 2012 Polymetallic Resource Table - Black Cat (100% Owned)

The current in-situ, drill-defined polymetallic Resources for Black Cat Syndicate are listed below.

Notes on Resource

The preceding statements of Mineral Resources conforms to the ‘Australasian Code for Reporting of Exploration Results Mineral Resources and Ore Reserves (JORC Code) 2012 Edition’.

All tonnages reported are dry metric tonnes.

Data is rounded to thousands of tonnes and thousands of ounces/tonnes for gold, copper, antimony, silver, and lead. Discrepancies in totals may occur due to rounding.

Resources have been reported as both open pit and underground with varying cut-offs based off several factors discussed in the corresponding Table 1 which can be found with the original ASX announcements for each Resource.

Resources are reported inclusive of any Reserves.

Paulsens Inferred Resource includes Mt Clement Eastern Zone Au of 7koz @ 0.3g/t Au accounting for lower grades reported.

Jorc 2012 Gold Reserve Table - Black Cat (100% Owned)

The current in-situ, drill-defined Reserves are listed below.

Notes on Reserve

The preceding statements of Mineral Reserves conforms to the ‘Australasian Code for Reporting of Exploration Results Mineral Resources and Ore Reserves (JORC Code) 2012 Edition’.

All tonnages reported are dry metric tonnes.

Data is rounded to thousands of tonnes and thousands of ounces gold. Discrepancies in totals may occur due to rounding.

Cut-off Grade:

• Open Pit – The Ore Reserves are based upon an internal cut-off grade greater than or equal to the break-even cut-off grade.
• Underground – The Ore Reserves are based upon an internal cut-off grade greater than the break-even cut-off grade.

The commodity price used for the Revenue calculations for Kal East was AUD $2,300 per ounce.
The commodity price used for the Revenue calculations for Paulsens was AUD $2,500 per ounce.

The Ore Reserves are based upon a State Royalty of 2.5% and a refining charge of 0.2%.

COMPETENT PERSONS’ STATEMENTS

The information in this Ore Reserves and Mineral Resources Statement is based on and fairly represents information and supporting documentation prepared by the competent persons named in the relevant sections below.

This Ore Reserve and Mineral Resource Statement as a whole has been approved by Mr Iain Levy. Mr Levy is a holder of shares and options in, and is a full-time employee of, the Company. Mr Levy is a Member of the Australasian Institute of Mining and Metallurgy and a Member of the AIG with sufficient experience with the style of mineralisation, deposit type under consideration and to the activities undertaken to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (The JORC Code)”.

The information that relates to all geology, exploration results, planning, and the estimation and reporting of Resources were compiled by Mr. Iain Levy. Mr. Levy has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’.  Mr. Levy consents to the inclusion of the matters based on the information in the form and context in which it appears.

The information that relates to the Open Pit Ore Reserves is based on and fairly represents information compiled by Mr. Alistair Thornton. Mr Thornton is a full-time employee of Black Cat Syndicate Pty Ltd. Mr Thornton has confirmed that he has read and understood the requirements of the 2012 Edition of the Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Thornton is a Competent Person as defined by the JORC Code 2012 Edition, having more than five years’ experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity for which he is accepting responsibility. Mr Thornton is a Member of the AusIMM and consents to the inclusion of the matters based on his information in the form and context in which it appears.

The information that relates to the Kal East Underground Ore Reserves is based on and fairly represents information compiled or reviewed by Dr. Kelly Fleetwood. Dr Fleetwood was a full-time employee of Black Cat Syndicate Pty Ltd when the Initial Underground Ore Reserves were prepared. Dr Fleetwood has confirmed that he has read and understood the requirements of the 2012 Edition of the Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Dr Fleetwood is a Competent Person as defined by the JORC Code 2012 Edition, having more than five years’ experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity for which he is accepting responsibility. Dr Fleetwood is a Member of the AusIMM and consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

The information that relates to the Paulsens Underground Ore Reserves is based on and fairly represents information compiled or reviewed by Mr Jake Rovacsek. Mr Rovacsek was a full-time employee of Black Cat Syndicate Limited when the Initial Underground Ore Reserves were prepared. Mr Rovacsek has confirmed that he has read and understood the requirements of the 2012 Edition of the Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Rovacsek is a Competent Person as defined by the JORC Code 2012 Edition, having more than five years’ experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity for which he is accepting responsibility. Mr Rovacsek is a Member of the AusIMM and consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

In relation to Resources and Ore Reserves, the Company confirms that it is not aware of any new information or data that materially affects the information in the original reports, and that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the original reports.

Where the Company refers to the exploration results, Mineral Resources, and Reserves (referencing previous releases made to the ASX), it confirms that it is not aware of any new information or data that materially affects the information included in that announcement and all material assumptions and technical parameters underpinning the Mineral Resource and Reserve estimates with that announcement continue to apply and have not materially changed.

The Company confirms that all material assumptions underpinning the production target at Kal East Gold Project, or the forecast information derived from the production target, included in the original ASX announcement dated 3 June 2022 continue to apply and have not materially changed.