Announcement PDF QUARTERLY ACTIVITIES REPORT Estrella Resources Limited Quarter ending 31 December 2017 ABN 39 151 155 207 ASX RELEASE 30 January 2018 HIGHLIGHTS ASX Code: ESR Board and Management Chief Executive Officer Christopher Daws (CEO) Non-Executive Directors John Kingswood ACQUISITIONS Ray Shorrocks Stephen Brockhurst Company Secretary Stephen Brockhurst Address Level 11, London House 216 St Georges Terrace Perth WA 6000 PO Box 2517 Perth WA 6831 Telephone: +61 8 9481 0389 Facsimile: +61 8 9463 6103 info@estrella.resources.com.au www.estrellaresources.com.au      Acquisition of the Carr Boyd Nickel Project Drilling continued at Sir William Wallace Deep co-funded hole completed at South Tregurtha HPEM survey to be extended to the north WA Nickel transaction progressed to completion Estrella Resources Limited (ASX: ESR) (Estrella or Company) is pleased to provide its Activities Report for the quarter ended 31 December 2017. The Company executed a binding conditional agreement for the acquisition of the Carr Boyd Nickel Project (CBNP) from Apollo Phoenix Resources (Apollo) during the quarter. The transaction involved the issue of 59.6 million fully paid shares in ESR and a deposit of $160,000 (total consideration valued at A$1,650,000). The CBNP is comprised of the Carr Boyd Layered Complex (CBLC or the Complex). The acquisition is subject to various conditions precedent, the material ones being; • approval of the acquisition by ESR shareholders; • the CBN shares (currently held by Apollo) are distributed in specie to the Apollo shareholders pro-rata to their Apollo shareholding; • the CBNP tenements are transferred to CBN; [completed] and • there is no breach of warranty. The Company continued to finalise the acquisition of WA Nickel Pty Ltd (WAN) over the December quarter with the transaction completed post quarter end. Under the terms of the acquisition, WAN was acquired by ESR. WAN holds a 100% interest in nickel rights at the Spargoville Project, 100% of the gold and nickel rights at the Munda Project (M15/87), and 25% lithium rights at the Munda Project. The transaction gives ESR 100% ownership of all metals on M15/87. CBNP SUMMARY The focus of fieldwork during the quarter was at the CBNP. Three diamond holes were completed in the Sir William Wallace and Tregurtha South areas and preparations were made to extend a moving loop high power electromagnetic survey further to the north over the prospective basal contact position of the CBLC. This work is expected to commence in the March 2018 quarter (see EM Surveying later in this report). Figure 1. Map showing Carr Boyd exploration targets and prospects over interpreted bedrock geology. SIR WILLIAM WALLACE HPMLTEM TARGET Sir William Wallace was targeted by drillhole NCB0001. The hole intersected the basal contact at approximately 122.6m downhole. Several zones of nickel and copper sulphides were intersected, including within the CBLC, on the basal contact, and in the immediate footwall. This has provided further vindication of the target model being pursued at Sir William Wallace, even though the EM conductor source was attributed to a sulphide black shale horizon located outside of the intrusion further downhole. The zones of nickel and copper sulphides identified were cut and sampled, confirming the presence of nickel-copper sulphides (see Table 1: Assay results NBC0001). The unmineralised sections of the ultramafic sequence in NCB0001 appear to be nickel depleted, with HXRF readings typically significantly lower than would be expected, particularly in the peridotites. Nickel depletion of the ultramafics silicate minerals, particularly olivine’s, is a key indicator for the formation of large and super-large nickel deposits at the base of layered mafic intrusions. The basal contact was intersected significantly shallower than previously anticipated in NCB0001. As a result a second hole, NCB0002, was drilled up dip of NCB0001 to get a better understanding of the basal contact geometry. This subsequently allowed for refined positioning of the co-funded drill hole to screen a larger area of the contact. Figure 2. Photograph of a bleb of semi massive nickel sulphide at approximately 125.4m downhole in NCB0001. This sulphide is interpreted to be remobilised into the pillow margins of the footwall basalt sequence from the CBLC. NCB0002 was successfully completed to a final depth of 146.6m. It was designed to test the basal contact position 40m up dip of the NCB0001 pierce point and to determine the basal contact orientation. This would assist with the positioning of the co-funded deep platform hole (NBC0003), which targeted a gravity-magnetic feature within the CLBC. NCB0002 intersected the basal contact zone at approximately 107m downhole, confirming the position and orientation of the basal contact, which was intersected within a few metres of the projected position based on structural interpretations of NCB0001. Sulphide mineralisation was intersected by NCB0002, though it was less abundant than observed in NCB0001 deeper down the contact. This suggests that the sulphide mineralisation could be increasing with depth at Sir William Wallace. A follow-up hole testing the basal contact at a deeper level is planned to commence shortly. This will be an EM platform hole, drilled at a low angle to the basal contact. The hole will be drilled approximately 140m east of NCB0001 and NCB0002, targeting a change in strike in the basal contact which is coincident with a subtle magnetic anomaly. If nickel-copper mineralisation is developed deeper below surface in the Sir William Wallace area, it would be in an area below the black shale horizon detected by surface EM and targeted by NCB0001. If this was the case it would be virtually invisible to surface EM techniques, as the black shale would effectively obscure conductors located at a deeper level. Figure 3. Cross section of NCB0001 and NCB0002, showing the current simplified geological interpretation and a stylised depiction of the nickel-copper sulphides in the basal contact zone. Table 1. Assay results from NCB0001 Hole_ID NCB0001 Easting 366578 Northing 6669672 RL 415 mFrom 75.15 76 77 77.25 78 mTo 76 77 77.25 78 78.75 Ni ppm 444 452 432 450 456 Cu ppm 85 409 61 22 240 Co ppm 68 69 65 68 68 78.75 79.2 80 81 82 82.8 79.2 80 81 82 82.8 83 90 498 415 458 386 113 219 95 76 70 140 604 39 67 65 66 59 30 83 84 84.2 84 84.2 85 105 78 29 538 644 215 26 30 21 Hole_ID NCB0001 Easting 366578 Northing 6669672 RL 415 mFrom 85 85.8 mTo 85.8 86.15 Ni ppm 13 96 Cu ppm 111 521 Co ppm 13 34 86.15 87 88 89 90 91 87 88 89 90 91 91.5 380 406 406 433 357 256 109 257 204 219 331 119 63 65 66 68 61 48 91.5 92.2 93 93.9 95 95.4 92.2 93 93.9 95 95.4 95.6 383 417 347 38 31 220 60 90 43 112 108 104 63 66 57 14 13 40 95.6 96.1 96.85 97.15 98 99 96.1 96.85 97.15 98 99 100 391 37 317 396 498 444 11 42 199 241 4671 31 61 15 51 62 87 70 100 101 102 103 104 104.7 101 102 103 104 104.7 105.2 463 471 439 439 419 56 41 106 162 36 91 481 72 71 71 72 66 17 105.2 106 107.1 107.6 108 109 106 107.1 107.6 108 109 110 428 436 35 417 483 469 13 13 719 5 18 9 70 68 20 72 69 71 110 111 112 113 113.9 115 111 112 113 113.9 115 115.35 554 650 532 464 361 191 703 547 105 27 68 200 72 79 72 70 57 34 115.35 115.95 116.35 117 118 119 115.95 116.35 117 118 119 120 467 60 167 37 41 36 20 116 172 110 30 92 64 28 39 24 25 26 120 121 49 205 36 Hole_ID NCB0001 Easting 366578 Northing 6669672 RL 415 mFrom 121 122 mTo 122 122.85 Ni ppm 43 471 Cu ppm 127 224 Co ppm 25 58 122.85 123.2 123.6 124.25 125.05 125.25 123.2 123.6 124.25 125.05 125.25 126 2230 324 146 162 3051 219 729 112 91 122 4255 194 248 58 56 55 241 29 126 126.6 127 128 144.65 145 126.6 127 128 129 145 146 398 207 189 117 106 85 5092 439 221 73 16 161 52 51 56 51 39 53 146 146.75 147 148.15 148.45 149 146.75 147 148.15 148.45 149 150 61 74 68 286 73 70 87 44 63 2870 532 74 41 43 42 171 54 38 150 150.8 151.25 152 152.7 153 150.8 151.25 152 152.7 153 154.05 72 118 64 58 41 115 189 365 31 58 98 661 43 97 29 31 20 65 154.05 155 155.3 155.55 156 156.75 155 155.3 155.55 156 156.75 157.8 229 293 90 76 111 88 783 681 1377 798 636 1551 127 169 62 45 85 81 157.8 159 160 161 162 180 159 160 161 162 162.5 180.25 45 52 54 62 60 54 56 17 12 59 128 105 32 35 34 47 45 42 180.25 180.9 181.85 183 180.9 181.85 183 183.95 64 65 48 44 489 423 416 136 62 45 30 26 SOUTH TREGURTHA COFUNDED TARGET Apollo received a large archive of high resolution aeromagnetic and ground gravity datasets as part of the CBNP acquisition. Previous operators had collected gravity data on a 100m by 100m grid and aeromagnetic data on 50m line spacing over most of the western lobe of the CBLC. These datasets had been processed and interpreted in 2D, but not before in 3D. Apollo compiled these datasets, reprocessed and constructed 3D inversion models from them. This identified a series of coincident gravity and magnetic anomalies (targets). The target at South Tregurtha was identified as very high priority due to:     Proximity to the basal contact; Proximity to cloud and disseminated sulphide mineralisation at Tregurtha and West Tregurtha; Located in a window of limited historic drill testing; and Strong geological, structural, and geochemical support. Therefore, this target was selected for drill testing by a single deep drillhole (NCB0003) with support from a co-funding grant of $120,000. The hole was drilled to a depth of 827.4m, before being stopped in late December 2017 to allow enough time to complete the co-funding interim report before the December 31 deadline. Failure to complete the drilling and submit the report before this date would result in forfeiture of the co-funding grant. The hole will be continued in the New Year, aiming to penetrate to at least 1000m depth and intersect the basal contact of the CBLC. The hole was surveyed by HPDHTEM, gyroscope, magnetic susceptibility and gamma density to ensure the maximum amount of data was generated. This aimed to de-risk potential follow-up drilling by providing “hard targets” based on physical properties. The Company is currently interrogating these new datasets. Figure 4. Cross section showing 3D inversion models, structural interpretations, interpreted basal contact position, and the location of the proposed co-funded drillhole. Figure 5. Map of the Phase I HPEM area, showing the location of the new drillholes and historic holes greater than 150m depth. EM SURVEYING The current moving loop HPEM* (Phase I) survey extends approximately 1.5km north, 1.7km west and 3.3km east of Sir William Wallace. The basal ultramafic sequence is interpreted to extend northward along the western contact of the CBLC to at least 1.4km north of the Carr Boyd Rocks mine, but more likely to 3.6km north of the mine. A Phase II moving loop HPEM survey is proposed to extend the coverage 3.3km further north from the current Phase I survey, screening the interpreted basal contact position and immediate footwall sequence to 1.4km north of the Carr Boyd Rocks Mine. There are several historic high priority exploration targets and prospects in this area based on surface geochemistry, downhole geochemistry, aeromagnetics, ground gravity and interpreted geology datasets. HPEM will determine if significant conductors indicative of the presence of well-developed sulphides are associated with any of the exploration targets. Figure 6. Geological map of the CBLC showing current Phase I HPEM coverage and the proposed Phase II survey. *High Power Electromagnetics ABOUT THE PROJECT AND THE CBLC The CBLC is a 75km2 layered mafic igneous complex, which hosts several occurrences of nickel and copper sulphides. The most significant occurrence discovered to date is at the Carr Boyd Rocks mine, where mineralisation is hosted by bronzitite breccias (pyroxenites) emplaced within the gabbroic sequence of the Complex. The CBLC is in a Tier 1 jurisdiction approximately 80km north north-east of Kalgoorlie Western Australia. An all-weather haul road accessible by Apollo under a granted miscellaneous license connects the Project to the Goldfields Highway via Scotia. A “Voisey Bay” style model has not been adequately explored within the CBLC. This represents a compelling exploration target opportunity which the Company will continue to aggressively pursue. Figure 7. Location of Carr Boyd in relation to commercial centres and other major nickel projects. WIDGIEMOOLTHA ENERGY METALS PROJECT The Company finalised the WA Nickel Pty Ltd (WAN) acquisition during the quarter, with shareholder approval received and all relevant due payments settled post quarter end. This gave ESR 100% interest in nickel rights at the Spargoville Project and 100% ownership of all metals on M15/87 (Munda). The new projects were added to the Mount Edwards Lithium Project (MELP), with the consolidated project now referred to as the Widgiemooltha Energy Metals Project (WEMP). The WEMP hosts several high priority nickel, gold and lithium targets, which the Company intends to further develop in the coming year. This includes gold and nickel opportunities at Munda, nickel opportunities at Spargoville, and lithium opportunities at Atomic Three and Inco Boundary. MUNDA GOLD The Munda project hosts a JORC Code 2012 reported Inferred gold Mineral Resource estimate of 511,000t at 2.82g/t Au (Table 2).* Within this Mineral Resource several very high-grade zones occur, which are interpreted to be formed where sub vertical NNW trending structures intersect a sheared basal contact between an ultramafic hangingwall and metabasaltic footwall. This is interpreted to result in very high-grade plunging shoots within a lower grade envelope of gold mineralisation. These high-grade shoots will be targeted by drilling and if the interpretation is confirmed, they will be evaluated beginning with a Scoping Study to determine if they can be economically extracted. An open pit mining operation was commenced in 1999 by Resolute Mining Limited, but was shut in 2000 due to a dramatic fall in the gold price at the time to sub A$400/oz Au. With gold now holding above A$1,500/oz, there is considerable scope to complete the mining of the remaining Mineral Resource. Figure 8. Munda gold cross section at 360460mE, looking east. A POW was submitted and approved for the drilling of two holes, targeting the high-grade gold zone intersected by MND1406. The Company intends to drill these holes as soon as possible. * Refer to ESR announcement “ESR to Acquire Munda Gold and Spargoville Nickel Projects”, 04 September 2017 Table 2. Munda Gold Mineral Resource Estimate* Resources Category Metal Grade Contained Metal Cut off Tonnage Gold Gold (Au g/t) (Kt) (g/t) (oz) Inferred 1 511 2.82 46,337 Total 1 511 2.82 46,337 Table 3. Summary of the significant gold intercepts immediately north and beneath the Munda open pit. These will be targeted by drilling and economic evaluations starting with confirmatory drillholes around MND1406 and MND1407.* Hole_ID mFrom mTo Width (m) Au_g/t MND1406 53.0 60.0 7.0 41.23 Including 58.0 59.0 1.0 195.00 MND1407 70.0 74.0 4.0 40.10 MND1508 98.0 114.0 16.0 10.13 MND1724 94.1 97.1 3.1 23.17 MND1405 76.0 83.0 7.0 25.38 Including 76.0 78.0 2 82.5 MND1660 140.0 142.5 2.5 22.89 MND1417 111.0 128.0 17 10.34 MIRC009 46.0 50.0 4.0 38.80 MIRC006 20.0 23.0 3.0 16.31 (Note: the full tabulation of intersections is provided in Table 5) MUNDA NICKEL Closely associated with, but separated from the gold mineralisation at Munda, is a significant deposit of nickel sulphide. A JORC Code 2012 reported Inferred Mineral resource of 240,000t at 2.36% Ni has been estimated for the deposit.* The nickel mineralisation is interpreted to be a “Kambalda Style” nickel sulphide occurrence, located at the basal contact between a high MgO komatiitic ultramafic unit and a footwall basalt. Mineralisation is concentrated in thermal and structural embayments in the basal contact and in “footwall carrots” in the basalt. Table 4. Munda Nickel Mineral Resource Estimate* Resources Category Metal Grade Contained Metal Cut off Tonnage Nickel Nickel (Ni%) (Kt) (%) (t) Inferred 1 240 2.36 5676 Total 1 240 2.36 5676 Significant potential exists for further nickel sulphide mineralisation down plunge of the Munda Mineral Resource. Several DHTEM conductors were identified down plunge to the nickel mineralisation by Titan Resources during exploration programs conducted up to 2007, but these are yet to be followed up by drilling. The project was abandoned at the time due to a fall in the nickel price. There are also two greenfields EM conductor targets, M15/87-C1 and M1587-C4, located north west of Munda within M15/87. These conductors were identified by Consolidated Minerals during MLTEM surveys completed in 2010. During the quarter, a follow-up soil sampling program was completed over this area. Figure 9. Long section of the Munda nickel mineralisation, outlined by Titan Resources, showing the EM anomaly down plunge and the location of the high-grade gold cross section shown in Figure 3. SPARGOVILLE NICKEL The Spargoville area hosts several nickel mines which have been exploited to varying degrees in the past, including 1A (nickel), 5A (nickel), 5B (nickel and gold), and 5D (nickel). Global and remnant Mineral Resources have been published by previous operators for each of these occurrences, but they are not up-dated to JORC Code 2012 reporting compliance, so cannot be quoted at this stage. It is envisaged that only a small amount of new data will need to be collected, if any, to advance these projects to JORC Code 2012 reporting standard. The Company intends to add them to the Mineral Resource inventory and to conduct economic evaluations. Now that the WAN transaction has been finalised, the Company can take possession of the historic drill cores and digital databases for Spargoville and progress 1A, 5A, 5B, and 5D to JORC 2012 reporting standard. 1A The 1A project was mined between 1990 and 1992. It produced 112,800t @ 3.8% Ni (4,286t Ni metal) before its closure in 1992. Three 25m spaced underground levels were mined to a vertical depth of 175m below surface. Breakaway Resources (BRW) conducted drilling programs through 2007 and 2008 confirming depth continuation of high grade nickel sulphide mineralisation, including intercepts of 5.60m at 4.27% Ni, 7.29m at 6.94% Ni, 8.35m at 3.49% Ni, 1.84m at 4.95% Ni.* This extended the mineralisation up to 200 metres down-plunge of the mine workings on three separate surfaces. Optiro completed a fully depleted Inferred Mineral Resource estimate on the project in 2009. This Mineral Resource estimate was completed to JORC 2004 reporting standard, terminating at 280m below surface. There is significant potential to upgrade this to JORC Code 2012 Mineral Resource reporting standard and to extend it further down plunge. Down plunge extensions could be achieved using targeted drilling programs guided by modern high power DHTEM surveying. The DHTEM technology available today was not available to previous operators. * Refer to ESR announcement “ESR to Acquire Munda Gold and Spargoville Nickel Projects”, 04 September 2017 Figure 10. Cross section of the 1A project care of Minotaur Exploration showing mineralisation domains, mine workings and interpreted down plunge potential. * 5A Thick high-grade nickel intercepts have been returned from drilling by previous operators beneath an historic oxide gold open pit at 5A. These intercepts represent a compelling target for generating a JORC Code 2012 Mineral Resource estimation and economic evaluations. The high-grade nickel mineralisation appears to be open at depth. exploration upside at the project. This represents significant Scoping Studies completed by previous operators have determined that high metallurgical recoveries are achievable on the mineralisation. This would be advantageous should an economic mining operation be possible on the project. A strong downhole EM conductor has been identified within and below currently defined mineralisation. This conductor represents a compelling drill target for ESR. Figure 11. Long section of the 5A project care of Minotaur Exploration showing mineralisation domains, a selection of significant drill intercepts, drill targets, and the strong DHTEM conductor at depth. * 5D (Andrews) The 5D project was mined via the Andrews Shaft. The mine was active between 1975 and 1979 when it was developed to 250m below surface. There are no production figures available on open file for the project. A fully depleted remnant Mineral Resource was estimated by Geostat in 2004 to JORC Code 1999 reporting standard. This Mineral Resource estimate only included material between levels 2 and 11 of the mine, excluding lateral and depth extensions. Drilling completed by BRW in 2007 and 2008 confirmed the mineralisation extends at depth beyond the 11 level, with DHTEM modelling indicating that the mineralisation extends further to the north. Figure 12. Nickel sulphides in drill core from Spargoville. Figure 13. Long section of the 5D (Andrews) project from Minotaur Exploration showing the mine workings, drill intercepts and DHTEM conductor models. * 5B The 5B project was mined between 1975 and 1982, and again between 1992 and 1993 via an open pit. Approximately 14,000t of nickel was produced between the two mining campaigns. A decline was established post mining to allow drilling of the nickel and gold mineralisation from underground. The details of this operation are not available on open file. A drilling program completed by Minotaur in 2014 confirmed historic nickel intercepts. Results included:     15m @ 1.41% Ni in hole SPRC001* 16m @ 0.98% Ni in hole SPRC002* 16m @ 1.82% Ni (including 6m @ 3.60% Ni) in hole SPRC003* 24m @ 1.53% Ni (including 6m @ 3.08% Ni) in hole SPRC005* Mineral Resource estimates were completed on 5B by previous operators, but they were not completed to JORC Code 2012 reporting standards and therefore cannot be stated. ESR believes there is strong potential to upgrade the project to a JORC Code 2012 Mineral Resource and extend mineralisation with further drilling down plunge. * Refer to ESR announcement “ESR to Acquire Munda Gold and Spargoville Nickel Projects”, 04 September 2017 Figure 14. Long section of the 5A project from Minotaur Exploration, modified from BRW, showing the 5 %Ni x m nickel envelope, significant drill intercepts, and mine workings. These existing mineralised occurrences are located on a significant landholding of exploration tenure, providing potential exploration upside to ESR, particularly given the recent advances in electrical geophysical technology and power levels since previous operators were active on the projects. ESR has already identified four electromagnetic conductors in the historic data. One of which, M15/96C1, straddles the boundary between ESRs existing tenement M15/96 and the newly acquired tenement M15/395. The conductor is located between 5A and 5D and appears to be located on the same basal contact. It has a conductance of 6000 siemens and has good support from aeromagnetic data. This target will be assessed against geological and geochemical datasets before a decision to drill. LITHIUM PROGRAMS Approximately 12 – 15 RC holes are proposed for Atomic Three, with planned depths between 60m and 72m. Holes will be drilled at -60 towards 80 in a “top to tail” formation, roughly perpendicular to the stratigraphy. This will ensure the entire stratigraphic width of the anomalous pegmatites is sampled. Drilling will target directly beneath the highest-grade rock chip results, and the where pegmatites have the widest surface expressions. Three holes are also planned for Inco Boundary. POW approvals remain in place for the follow-up drilling programs at Atomic Three and Inco Boundary. The Company intends to complete them in the first half of 2018. A soil sampling program was completed over the Atomic Three prospect area during the previous quarter, which includes Bravo Charlie. 458 samples were collected on a 200m by 50m grid pattern. The aim of the soil sampling program was to determine if soil sampling could be an effective technique for identifying blind lithium bearing pegmatites with no visible surface expression, and if so, determine if there are any such pegmatites in the Atomic Three area. At this stage it is unclear if soil sampling is an effective technique for identifying blind pegmatites. † Refer to ESR announcement “Mt Edwards Lithium Project Exploration Update”, 09 August 2017 Figure 15. Map of Bravo Charlie prospect showing all the rock chips sampled to date, labelled with % Li2O for anomalous results above 0.1% Li2O. The better of the more recent sampling results are labelled in a white highlight. † CORPORATE CAPITAL The Company’s cash balance as at 31 December 2017 was A$1,118,000, after raising $1,360,000 through the issue of 34,000,000 shares via a placement at $0.04 per share. Cofunding drilling equity is expected in the coming quarter amounting to $120,000. The Company is assessing the potential for R&D claims in relation to the past and future work being undertaken at the CBLC. Fully Paid Ordinary Shares 395,283,292 Unlisted options exercisable $0.024 on or before 31 March 2020 – 8,250,000 $0.044 on or before 31 May 2018 – 5,000,000 $0.40 on or before 13 November 2019 – 1,375,000 $0.80 on or before 3 October 2018 – 118,752 $1.40 on or before 21 November 2018 – 750,000 Competent Person Statement The information in this announcement relating to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Luke Marshall, who is a consultant to Apollo Phoenix Resources and Mt Edwards Lithium, and a member of The Australasian Institute of Geoscientists. Mr Marshall 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 Marshall consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. FURTHER INFORMATION CONTACT Christopher J. Daws Chief Executive Officer Estrella Resources Limited info@estrella.com.au Appendix 1 – Tenement Information as Required by Listing Rule 5.3.3. Country Location Project Tenement Change in Holding (%) Current Interest (%) Australia WA Mt Edwards Lithium Project M15/698 75 75 Australia WA Mt Edwards Lithium Project M15/75 75 75 Australia WA Mt Edwards Lithium Project M15/699 75 75 Australia WA Mt Edwards Lithium Project M15/87 75 75 Australia WA Mt Edwards Lithium Project M15/74 75 75 Australia WA Mt Edwards Lithium Project M15/101 75 75 Australia WA Mt Edwards Lithium Project M15/99 75 75 Australia WA Mt Edwards Lithium Project M15/653 75 75 Australia WA Mt Edwards Lithium Project M15/97 75 75 Australia WA Mt Edwards Lithium Project M15/96 75 75 Australia WA Mt Edwards Lithium Project M15/102 75 75 Australia WA Mt Edwards Lithium Project M15/100 75 75 Australia WA Mt Edwards Lithium Project M15/1271 75 75 Australia WA Mt Edwards Lithium Project E15/1505 75 75 Australia WA Mt Edwards Lithium Project E15/1507 N/A Application Australia WA Mt Edwards Lithium Project E15/1562 N/A Application Note – Estrella Resources Limited owns 75% in the lithium rights of the tenements noted Mt Edwards Lithium Project. All tenements are held by Apollo Phoenix Resources Pty Ltd and are in Western Australia. APPENDIX 3 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 techniques  Nature and quality of sampling (e.g. cut channels,  NCB0001 was sampled by cutting the core in half with an Almonte core cutting machine. random chips, or specific specialised industry standard measurement tools appropriate to the  HXRF readings have been routinely taken on the sulphide mineralisation but are generally not reported as they are not considered representative. minerals under investigation, such as down hole gamma sondes or handheld XRF instruments,  HXRF readings have also been taken on unmineralised rocks etc.). These examples should not be taken as limiting the broad meaning of sampling.  Include reference to measures taken to ensure sample representivity and the appropriate  Standard reference material is inserted into the sample stream every nominal 20 samples, adjusted to focus on areas of geological interest and expected higher grade zones. calibration of any measurement tools or systems used.  Aspects of the determination of mineralisation that are material to the Public Report.  Determination of mineralisation has been undertaken on a visual basis with the support of HXRF readings. Criteria JORC Code explanation Commentary  In cases where ‘industry standard’ work has been  NQ diamond core was cut in half and bagged on 1m intervals adjusted to geological domains. 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  The entire nominal 1m sample was crushed and pulverised to produce a 50g charge for fire assay for gold and PGEs and a 50g charge for 4 acid digest with ICP finish for multielement analysis. explanation may be required, such as where there