Announcement PDF ASX:ESR 30 August 2022 Final High-Grade Results Received for Spargoville 5A HIGHLIGHTS  High-grade results over minable widths returned from final two holes below the 5A Open Pit:  SPDD019 – 4.34m* @ 3.58% Ni from 71.46m including 1.40m @ 7.79% Ni  SPDD020 – 8.03m* @ 3.17% Ni from 61.0m including 2.63m @ 9.23% Ni  Water removal from the open pit is complete allowing preparation for the extraction of the bulk metallurgical sample to begin  JORC Resource Estimate work to commence with results anticipated in the following weeks  Blending for composite float test samples being finalised Estrella Resources Limited (ASX: ESR) (Estrella or the Company) is pleased to announce the receipt of assays for the final two resource and metallurgical diamond holes at the Company’s Spargoville Nickel Project 5A Mine, located approximately 20km Southwest of Kambalda, Western Australia. Both SPDD019 and SPDD020 returned very high grades from the northern and central portions of the deposit. With receipt of these assays, work on a new Resource Estimate can be finalised within a few weeks. Composite assays from the last holes are presented in Table 1 with the full assay listing in Table 3 at the end of this announcement. Estrella Managing Director Chris Daws commented: “The results which Estrella has received from the Spargoville nickel project will permit the commencement of work on an updated Resource Estimation and I am very confident that the highgrade assays we have unearthed places us in a strong position to define a robust resource. The completion of drilling also allows the Company to proceed with bulk sampling, de-risking the project from a resource as well as metallurgical perspective. Estrella has sought to broaden its focus to include the Spargoville project and the 5A nickel deposit precisely because it contains high-grade mineralisation at a time when the price and underlying fundamentals of nickel demand are strong. I am exceptionally pleased with the progress we have made to date, which positions the Company to meet its target of bringing Spargoville into operation next year should the DFS be favourable.” * Down hole widths quoted. For true widths refer to Table 1 _________________________________________________________________________________ Office Address London House, Level 11, 216 St Georges Terrace, PERTH WA 6000 Postal Address GPO Box 2517, PERTH WA 6831 Phone +61 8 9481 0389 Fax +61 8 9463 6103 Email info@estrellaresources.com.au Figure 1: Spargoville 5A Open Pit digital model with recent diamond drilling Table 1: Composite Significant Intercepts Hole ID Metallurgical Length From (m) To (m) Type (m) T.W. (m) Ni % Cu % Co ppm Pt g/t Pd g/t 2.76 Total S% Fe % MgO% As ppm SG 71.46 75.80 4.34 3.58 0.17 655 0.11 0.26 7.9 17.4 14.9 733 3.1 SPDD019 including TRANS 73.15 75.80 2.65 5.19 0.26 970 0.17 0.41 12.3 22.5 11.0 864 3.2 including TRANS 74.40 75.80 1.40 7.79 0.4 1462 0.23 0.63 19.1 28.5 5.3 1212 3.4 61.00 69.03 8.03 3.17 0.19 730 0.18 0.28 7.9 12.3 20.3 1190 2.7 66.40 69.03 2.63 9.23 0.60 2071 0.56 0.86 25.1 22.6 5.4 1421 2.9 SPDD020 Total including TRANS 5.20 Results for SPDD001 to SPDD018 have previously been released to the market Compared to the previous Resource Estimate, the Company is expecting the amount of transitional material below the Open Pit to rise and the amount of Fresh material to fall. The Company is investigating the economics of two separate production streams for the Transitional and Fresh material which will feed into the Definitive Feasibility Study. The removal of drill water from the base of the open pit has been completed and cleaning up of the ramp and pit floor will commence within weeks. Removal of the bulk sample is expected to be completed in October. This sample of Transitional material will be tested at an alternative treatment facility to the Kambalda Concentrator and will be extending on successful bench-scale tests conducted in 2019. The drill core obtained from the recent drilling is being used for mineralogical analysis to zero in on the Transitional to Fresh boundary. Visual observation of the core suggests that the Transitional boundary is situated lower in the profile than the previous resource had estimated. Semi-quantitative XRD analysis is underway on all intersections and blending of Transitional and Fresh composites will be sent to a Perth laboratory for further flotation tests (see Shareholder Presentation released to the ASX on 13 March 2019). The Company looks forward to updating shareholders when the Resource Estimate has been completed and as the results of metallurgical and mineralogical studies begin to arrive. The Board has authorised for this announcement to be released to the ASX. FURTHER INFORMATION CONTACT Christopher J. Daws Managing Director Estrella Resources Limited +61 8 9481 0389 info@estrellaresources.com.au Media: David Tasker Managing Director Chapter One Advisors E: dtasker@chapteroneadvisors.com.au T: +61 433 112 936 Competent Person Statement The information in this announcement relating to Exploration Results is based on information compiled by Steve Warriner, who is the Exploration Manager of Estrella Resources, and a member of The Australasian Institute of Geoscientists. Mr. Warriner has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activity he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resource and Ore Reserves”. Mr. Warriner consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. Forward Looking Statements This announcement contains certain forward looking statements which have not been based solely on historical facts but, rather, on ESR’s current expectations about future events and on a number of assumptions which are subject to significant uncertainties and contingencies many of which are outside the control of ESR and its directors, officers and advisers. Table 3: Collar and Survey Details Hole ID SPDD019 SPDD020 Easting 357977.5 357981.5 Northing 6530214.7 6530249.5 RL 347.3 345.1 Depth 100 85 Dip -50 -46 Azimuth 270 286 Status Complete Complete Table 4: Assay results Hole ID m From m To Interval Sample # Ni % Cu% Co ppm Pt g/t Pd g/t S% Fe % MgO % As g/t SG SPDD019 SPDD019 SPDD019 SPDD019 SPDD019 SPDD019 SPDD019 SPDD019 SPDD019 SPDD019 SPDD019 SPDD019 SPDD019 SPDD019 SPDD019 SPDD019 SPDD019 SPDD019 SPDD019 SPDD019 SPDD019 SPDD019 SPDD019 SPDD019 SPDD019 SPDD019 SPDD019 SPDD019 SPDD019 SPDD019 SPDD019 SPDD019 51.5 53 54.35 55.45 55.95 57.11 58.27 59.43 60.6 61.7 63.16 64.62 66.08 67.54 69 69.92 71.46 72.25 72.5 73.15 73.45 74 74.4 74.8 75.2 75.5 75.8 77 78 79 80 81 53 54.35 55.45 55.95 57.11 58.27 59.43 60.6 61.7 63.16 64.62 66.08 67.54 69 69.92 71.46 72.25 72.5 73.15 73.45 74 74.4 74.8 75.2 75.5 75.8 77 78 79 80 81 82 1.5 1.35 1.1 0.5 1.16 1.16 1.16 1.17 1.1 1.46 1.46 1.46 1.46 1.46 0.92 1.54 0.79 0.25 0.65 0.3 0.55 0.4 0.4 0.4 0.3 0.3 1.2 1 1 1 1 1 CBR115665 CBR115666 CBR115667 CBR115668 CBR115669 CBR115670 CBR115671 CBR115672 CBR115673 CBR115675 CBR115676 CBR115677 CBR115678 CBR115679 CBR115680 CBR115681 CBR115682 CBR115683 CBR115684 CBR115685 CBR115687 CBR115688 CBR115689 CBR115690 CBR115691 CBR115692 CBR115693 CBR115694 CBR115695 CBR115696 CBR115697 CBR115698 0.32 0.21 0.20 0.62 0.37 0.30 0.26 0.39 0.26 0.21 0.20 0.22 0.22 0.24 0.17 0.27 0.86 1.55 0.54 3.28 0.49 2.83 7.48 5.73 11.30 7.12 0.28 0.13 0.36 0.21 0.02 0.02 0.00 0.00 0.00 0.02 0.01 0.01 0.01 0.01 0.00 0.00 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.07 0.00 0.19 0.01 0.09 0.36 0.30 0.44 0.54 0.02 0.03 0.02 0.02 0.01 0.01 75 71 77 636 134 78 69 78 91 97 102 101 93 97 69 97 95 256 86 581 118 494 1415 843 1870 1865 92 74 98 92 49 55 <0.005 <0.005 0.01 0.01 0.01 0.02 0.04 0.02 0.02 0.01 0.01 <0.005 <0.005 <0.005 <0.005 <0.005 <0.005 <0.005 <0.005 0.39 0.02 0.03 0.20 0.18 0.22 0.33 0.02 0.02 0.02 0.02 0.01 0.01 0.01 0.01 0.01 0.04 0.01 0.04 0.07 0.03 0.02 0.01 0.02 <0.001 0.00 0.00 0.00 0.00 0.00 0.02 0.01 0.22 0.03 0.17 0.25 0.03 0.39 2.12 0.03 0.01 0.02 0.07 0.01 0.01 <0.01 0.01 0.06 0.01 0.10 0.08 0.09 0.05 0.10 0.14 0.17 0.05 0.03 0.08 0.05 0.05 0.04 2.00 0.03 5.98 0.49 6.36 18.30 15.40 23.90 19.90 0.40 0.41 0.76 0.51 0.07 0.09 5.77 6.31 6.63 9.31 8.51 6.89 6.39 6.57 5.27 6.35 6.46 5.42 5.08 5.26 3.91 4.80 5.46 12.15 11.25 20.00 10.80 16.95 26.20 28.60 28.00 32.00 5.77 6.93 7.67 7.44 6.96 6.25 23.38 25.20 26.20 21.47 25.45 26.12 25.04 23.21 26.78 31.01 30.76 33.49 33.49 33.83 27.69 30.84 23.63 18.57 20.06 14.67 22.14 15.12 7.76 6.10 4.03 2.72 4.29 5.24 5.32 5.39 5.84 5.52 164 127 91 783 287 169 249 516 348 146 8 824 896 645 197 801 517 636 458 231 653 215 323 185 1400 3410 523 22 46 89 10 18 2.705 2.755 2.806 2.644 2.822 2.771 2.751 2.669 3.003 2.916 2.9 2.741 2.868 2.846 2.792 2.782 2.994 2.585 2.925 2.741 3.078 2.969 3.318 3.21 3.582 3.483 2.605 2.689 2.858 2.758 2.774 2.88 SPDD020 SPDD020 SPDD020 SPDD020 SPDD020 SPDD020 SPDD020 SPDD020 SPDD020 SPDD020 SPDD020 SPDD020 SPDD020 SPDD020 SPDD020 SPDD020 SPDD020 SPDD020 SPDD020 SPDD020 SPDD020 SPDD020 SPDD020 SPDD020 SPDD020 SPDD020 SPDD020 SPDD020 SPDD020 SPDD020 SPDD020 41.9 43.2 45 46 47 48 48.89 50 51 52 53 54.18 55 56 57 58.68 59.25 59.92 61 61.68 62.97 64.52 65.35 66.4 67.27 68.02 68.7 69.03 70 71 73 43.2 45 46 47 48 48.89 50 51 52 53 54.18 55 56 57 58.68 59.25 59.92 61 61.68 62.97 64.52 65.35 66.4 67.27 68.02 68.7 69.03 70 71 73 74 1.3 1.8 1 1 1 0.89 1.11 1 1 1 1.18 0.82 1 1 1.68 0.57 0.67 1.08 0.68 1.29 1.55 0.83 1.05 0.87 0.75 0.68 0.33 0.97 1 2 1 CBR115699 CBR115700 CBR115701 CBR115703 CBR115704 CBR115705 CBR115706 CBR115707 CBR115708 CBR115709 CBR115710 CBR115711 CBR115712 CBR115713 CBR115714 CBR115716 CBR115717 CBR115718 CBR115719 CBR115720 CBR115721 CBR115722 CBR115723 CBR115724 CBR115725 CBR115726 CBR115727 CBR115728 CBR115730 CBR115731 CBR115732 0.25 0.65 0.32 0.34 0.72 0.75 0.26 0.18 0.37 0.62 0.68 0.19 0.13 0.12 0.11 0.45 0.15 0.29 1.29 0.31 0.25 0.46 0.37 5.75 8.08 14.30 1.33 0.07 0.16 0.02 0.03 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.00 0.00 0.00 0.00 0.01 0.00 0.01 0.01 0.04 0.01 0.01 0.00 0.00 0.02 0.01 0.96 0.00 0.77 0.07 0.03 0.03 0.02 0.01 108 199 124 116 415 237 195 102 168 221 204 102 93 92 93 97 107 113 276 121 100 127 95 1225 1625 3460 253 45 111 48 61 0.01 0.01 0.01 0.01 0.02 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 <0.005 <0.005 0.01 0.02 0.02 0.98 0.54 0.11 0.03 0.01 0.02 0.01 0.01 0.01 0.03 0.01 0.01 0.03 0.02 0.02 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.00 0.00 0.01 0.05 0.03 2.06 0.14 0.19 0.08 0.01 0.05 0.01 0.01 <0.01 0.01 0.01 0.01 0.01 0.01 0.11 0.08 0.06 0.08 0.03 0.04 0.02 0.03 0.13 0.13 1.06 0.17 0.14 0.04 0.03 0.56 0.16 13.90 21.80 41.10 2.51 0.08 0.38 0.09 0.09 9.04 7.40 6.61 7.64 10.20 9.62 6.79 8.17 9.30 9.80 10.10 7.32 7.52 7.45 8.19 9.43 8.60 6.76 8.68 5.88 5.44 5.99 13.00 17.90 22.80 27.70 11.70 8.03 5.85 5.64 6.38 22.22 22.22 23.46 25.04 18.49 21.56 24.04 23.63 23.13 21.89 21.39 22.63 23.63 22.47 20.64 14.23 21.47 26.03 26.45 29.35 34.49 24.13 19.81 9.60 5.92 0.17 3.25 4.48 4.59 4.99 5.24 85 185 166 323 984 902 203 162 403 240 751 114 201 86 85 96 352 468 549 1065 1425 297 1750 2940 643 438 494 54 86 6 16 2.79 2.546 2.583 2.472 2.591 2.237 2.581 2.921 2.936 2.86 2.617 2.63 2.988 2.99 2.791 2.582 2.759 2.976 2.834 2.538 2.551 2.851 2.743 2.78 2.714 3.127 1.343 2.715 2.621 2.749 2.591 APPENDIX 1 JORC TABLE 1 - JORC CODE, 2012 EDITION – TABLE 1 Section 1 Sampling Techniques and Data (Criteria in this section apply to all succeeding sections.) Criteria JORC Code explanation Commentary Sampling  Nature and quality of sampling (e.g. cut  Diamond core is HQ sized. Core samples are techniques channels, random chips, or specific quarter cut with one quarter sent to the lab for specialised industry standard assay and three quarters kept frozen at Carr measurement tools appropriate to the Boyd for metallurgical sampling. Sulphide minerals under investigation, such as determinations for visual estimates are down hole gamma sondes or handheld assisted with the use of a handheld Bruker XRF instruments, etc.). These XRF. examples should not be taken as limiting the broad meaning of sampling.  Include reference to measures taken to  All core is measured against actual drill depths ensure sample representivity and the and recovery calculated to ensure samples are appropriate calibration of any representative. Core is cut perpendicular to measurement tools or systems used. sulphide/olivine layering. Drilling techniques Drill sample recovery  Aspects of the determination of mineralisation that are material to the Public Report.  Intersections  In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information  Nickel mineralisation consists of contact massive sulphides (pyrite, pyrrhotite, pentlandite, violarite, chalcopyrite) typically less than 1.5m thick, overlain by matrix sulphides and disseminated sulphides. At 5A the sulphides have been weathered to produce supergene sulphides of pyrite and violarite.  Nickel and multielement analysis is performed by 4 acid digest and a combination of ICP-MS and ICP-OES analysis techniques. Gold and PGEs are determined by a fire assay fusion, followed by aqua regia digest and atomic absorption spectrometer (AAS) finish.  Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, facesampling bit or other type, whether core is oriented and if so, by what method, etc).  Method of recording and assessing core and chip sample recoveries and results assessed.  Measures taken to maximise sample recovery and ensure representative nature of the samples.  Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.  Diamond core is predominantly HQ triple tube are visually assessed to determine oxide, transitional and fresh nickel mineral species. Handheld XRF assists in the identification of sulphide and arsenic levels. to maximise recovery.  All core is measured against actual drill depths and recovery calculated to ensure samples are representative and to identify core loss.  Logs will include lithology, oxidation, mineral species, RQD, alteration and gangue mineral determination. Criteria Logging Subsampling techniques and sample preparation Quality of assay data and laboratory tests Verification of sampling and assaying JORC Code explanation  Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies.  Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.  The total length and percentage of the relevant intersections logged.  If core, whether cut or sawn and whether quarter, half or all core taken.  If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry.  For all sample types, the nature, quality and appropriateness of the sample preparation technique.  Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.  Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling.  Whether sample sizes are appropriate to the grain size of the material being sampled.  For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.  Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established. Commentary  Detailed drill hole logs are produced on 100%  The verification of significant intersections by either independent or alternative company personnel.  Significant intersections have been reviewed  The use of twinned holes.  Several of the current drillholes twin existing of the core as per current industry best practise. All core is photographed and all digital and paper records will be kept.  Core is ¼ cut for assay with the remaining ¾ stored in a freezer for metallurgical sampling.  Procedures ensure the appropriateness of samples in line with this style of high-grade mineralisation.  Standards and blanks have been inserted into the sample stream at a ratio of 20:1  The size of the core is adequate for this style of mineralisation.  Standards and blanks are inserted into the sample stream at a ratio of 20:1  Handheld XRF results are for internal use within the company and will not be published. A Bruker XRF instrument was recently purchased by the company. by alternative company personnel. drilling. SPDD005 twins 5ADD002; SPDD009 twins 5ADD018; SPDD018 twins KWC0006.  Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.  Drill hole is captured into the LogChief digital  Discuss any adjustment to assay data.  No adjustments are necessary to assay data system and later validated in 3D using Micromine. All core will be photographed and all digital and paper records will be kept. for this style of mineralisation. Criteria Location of data points JORC Code explanation  Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. Commentary  Surface topography is derived from drill hole collars and the historical mining pick-ups. Drill holes were set out using an RTK theodolite and final hole pickups will use DGPS or similar.  Initial drill hole line-ups will be controlled using a Reflex Azimuth Alligner and drillholes are surveyed using a Reflex North Seeking Gyro.  Specification of the grid system used.  The MGA94/51 grid system is used.  Quality and adequacy of topographic control.  Topographic control is considered good. The  Data spacing for Exploration Results. of  The Mineral Resource area is drilled on roughly a 20 x 10m spacing.  Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.  Whether sample compositing has been applied  The drill data spacing and sampling is  The drill line and drill hole orientation is oriented as close as practicable to perpendicular to the orientation of the general mineralised orientation. Sample security  Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type.  If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.  The measures taken to ensure sample security. Audits or reviews  The results of any audits or reviews of sampling techniques and data.  Visualisation of drilling data will be completed Data spacing and distribution Orientation of data in relation to geological structure reporting open pit was surveyed by production personnel during mining and this has been checked recently using an RTK system and found to be accurate in MGA94/51. adequate to establish the geological and grade continuity required for the Mineral Resource estimate.  Significant intersections and metallurgical samples are composited based upon individual assays received as per current industry practise.  Drillholes will intersect mineralisation at a range of angles. These angles will be measured for each intersection.  Industry standard sample security standards will be followed. Samples will remain in the control of Company personnel up until delivery to the lab. in three dimensional software and QA/QC sampling review will be ongoing. Lab visits will occur. Section 2 Reporting of Exploration Results (Criteria listed in the preceding section also apply to this section.) Criteria JORC Code explanation Commentary Mineral  Type, reference name/number,  ESR has entered into agreements to hold a tenement and location and ownership including 100% interest in all nickel land tenure agreements or material issues with rights to the project. status third parties such as joint ventures,  There are no known impediments to operate in partnerships, overriding royalties, the area. native title interests, historical sites,  The area is held under M15/395 and M15/703. wilderness or national park and Exploration done by other parties environmental settings.  The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.  Acknowledgment and appraisal of exploration by other parties.  Anaconda explored the area for nickel between 1967 and 1972. These programs led to the discovery of nickel mineralisation. Anaconda entered into a joint venture with Union-Minere between 1972 and 1975.  Metals Exploration acquired the Widgiemooltha leases between 1979 and 1983. They did not undertake any exploration activity during this time.  By 1983 Western Mining Corporation (WMC) had acquired the Widgiemooltha leases. WMC reviewed the project’s gold potential in 1996 following a completed percussion and diamond drill program. They completed a technical evaluation of Munda as a gold / nickel resource in 1998.  Amalg Resources held the package from 1993 to 2002.  The tenements were acquired by Titan Resources in late 2003 as part of the acquisition of the Central Widgiemooltha tenements.  Breakaway Resources explored on the tenements until 2004.  Tychean held the tenure between 20013 and 2015 upon which the tenure was acquired by Maximus Resources. Geology  Deposit type, geological setting and style of mineralisation.  All Widgiemooltha Dome nickel deposits are Kambalda-style deposits. 1A, 5a, 5B and 5D deposits are type 1A massive-matrix style.  Nickel mineralisation is located along the contact of basalt and ultramafic rocks. High grade nickel mineralisation is in the form of poddy contact shoots, with a broad disseminated component. The contact itself is quite disturbed as the area has been extensively deformed, with numerous footwall thrusts of thin packages of mineralised ultramafic. The hanging wall ultramafic unit varies from talc, tremolite, and serpentinised Criteria JORC Code explanation Commentary altered ultramafics. Disseminated nickel mineralisation is generally in serpentinised ultramafic.  The stratigraphy at a deposit scale consists of the Archaean Mt Edwards basalt overlain by the Widgiemooltha Komatiite. The ultramafic succession consists of a series of flows with intercalated sediments. It is approximately 250m thick and displays carbonate alteration and serpentinisation. The mineral assemblages are talc-antigoritechlorite-magnetite and talc-magnesiteamphibolite-magnetite. Drill hole Information Data aggregation methods Relationship between mineralisation  A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: o easting and northing of the drill hole collar o elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar o dip and azimuth of the hole o down hole length and interception depth o hole length.  If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.  All relevant drillhole information can be found in the Tables and sections within the announcement.  In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated.  Where aggregate intercepts incorporate short lengths of highgrade results and longer lengths of low-grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.  The assumptions used for any reporting of metal equivalent values should be clearly stated.  These relationships are particularly important in the reporting of Exploration Results.  Drill hole summary results are included in this  No information is excluded. release. The results reported include all mineralisation which is stated in the relevant tables.  A nominal cut off of 1.0% Ni was used to define the drill intersections composites of low-grade and high-grade respectively.  No metal equivalents have been stated  The drill line and drill hole orientation is oriented as close to 90 degrees to the orientation of the anticipated mineralised orientation as Criteria widths and intercept lengths Diagrams Balanced reporting Other substantive exploration data Further work JORC Code explanation  If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.  If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’).  Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported. These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.  Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.  Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.  The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling).  Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive. Commentary practicable.  The majority of the drilling intersects the mineralisation between 45 to 80 degrees.  Maps and sections with drill hole locations are included in appropriate. the announcement when  All new drillhole information within this announcement is reported  Everything meaningful and material is disclosed in the body of the report.  Geological observations are included in the report.  There are arsenic species within the deposit which can be semi-quantified by XRF and fully quantified by assay analysis.  Further work has been recommended in the body of the announcement.