Announcement PDF Quarterly Activities Report | For the period ended 30 June 2024 Quarterly Activities Report For the period ended 30 June 2024 Highlights • Copper equivalent production of 10.2kt for the quarter at AISC of A$5.45/lb • Tritton performed well with production and grades higher on increased ore volumes from Avoca Tank and Budgerygar mines • Strong gold production at Cracow and costs in line with plan • Mt Colin mining again ahead of plan but lack of toll processing capacity resulted in lower copper production • Jaguar on care and maintenance with study on restart options well advanced • Stockman feasibility work on the Albion process continues • Production and cost guidance achieved for FY24 at the group level and at Tritton and Cracow. Mt Colin production below guidance due to toll processing LTIFR Copper produced Unit Sep 23 Qtr Dec 23 Qtr Mar 24 Qtr Jun 24 Qtr FY24 YTD FY24 Guidance /mmhrs 1.04 1.72 1.10 1.19 - - kt 8.1 6.4 5.9 6.7 27.2 28 - 35 Zinc produced kt 3.1 - - - 3.1 1.2 - 1.5 Gold produced koz 15.2 13.2 12.7 14.2 55.3 48 - 60 Silver produced koz 121.3 39.2 37.3 42.6 240.4 181 - 227 Cu eq production kt 12.9 9.7 9.1 10.2 42.0 40 - 50 Mining A$M 60.1 48.7 41.8 54.0 204.6 202 - 243 Processing A$M 28.9 18.2 20.7 23.3 91.1 84 - 101 Operating Costs Site & G&A A$M 12.9 10.4 10.1 11.2 44.6 43 - 52 TC/RCs A$M 11.4 3.7 5.1 5.2 25.4 28 - 34 Product handling A$M 7.3 5.2 4.2 5.9 22.4 24 - 29 Capital Costs Sustaining A$M 21.8 16.3 20.8 15.8 74.7 76 - 91 Growth A$M 10.1 9.5 (0.3) 2.2 21.5 34 - 41 Exploration A$M 2.6 1.7 1.9 2.6 8.8 12 - 15 Projects A$M 1.1 0.6 0.4 0.4 2.5 2-3 AISC A$M 154.4 115.4 107.1 123.0 499.9 - AISC $/lb Cu eq 5.44 5.40 5.31 5.45 5.40 - 1 Group Safety, Environment and Community Aeris recorded one lost time injury throughout the last quarter, bringing the 12-month rolling LTIFR to 1.19. There were two Reportable Environmental Incidents recorded in the quarter. Incidents related to issues with recording of water flows at Tritton and the camp sewage treatment plant at Cracow. Figure 1: Group LTIFR 3 No of LTI LTIFR 2 1 0 2 Tritton Operations (NSW) Key points for quarter: • Copper production of 5.4kt at AISC of $5.23/lb on improved ore volumes from Avoca Tank and Budgerygar • Operating and capital costs below plan • Full year copper production guidance achieved. Capital and operating costs at the low end or below guidance. Sep 23 Dec 23 Mar 24 Jun 24 FY24 Qtr Qtr Qtr Qtr YTD kt 301.2 319.5 260.0 314.6 1,195.4 % Cu 1.59 1.57 1.71 1.89 1.69 Ore Milled kt 332.1 315.6 260.6 307.4 1,215.7 Milled Grade % Cu 1.63 1.60 1.75 1.88 1.71 Recovery Cu 95.3% 95.2% 95.2% 94.28% 95.02% Copper Produced kt 5.2 4.8 4.3 5.4 19.7 19 – 24 Gold Produced koz 1.0 1.2 1.2 1.5 4.9 6–7 Silver Produced koz 36.9 39.2 37.3 42.6 156.0 148 – 185 Mining A$M 25.3 25.1 23.9 30.7 104.9 113 – 136 Processing A$M 8.7 6.8 7.0 8.2 30.7 31 – 37 Site G&A A$M 5.1 3.9 5.2 5.7 19.9 22 – 27 TC/RCs A$M 5.4 4.6 4.0 4.3 18.3 19 – 23 Product Handling A$M 3.3 3.8 2.9 4.8 14.8 16 – 20 By-Product Credit A$M (4.1) (4.6) (5.2) (5.8) (19.7) Royalties A$M 1.6 1.6 1.6 2.9 7.7 Corporate G&A A$M 0.5 0.5 0.5 0.5 2.2 Inventory Movements A$M 1.7 1.8 1.7 (1.1) 4.1 Sustaining Capital1 A$M 17.2 13.5 13.9 12.6 57.2 A$M 64.7 57.0 55.5 62.9 240.0 A$/lb 5.68 5.37 5.81 5.23 5.51 Growth Capital A$M 3.0 1.3 (1.0)3 2.1 5.4 10 – 12 Exploration A$M 0.6 0.7 0.3 0.2 1.8 7–9 A$M 68.3 59.0 54.8 65.2 247.3 A$/lb 5.99 5.55 5.74 5.43 5.68 Production Summary Unit Ore Mined Mined Grade FY24 Guidance Cost Summary All-In Sustaining Costs2 All-In Costs2 1. Includes sustaining capital, capitalised mine development and financing payments (principal and interest) on leased assets 2. 3. All-In Sustaining and All-In Costs are based on copper produced Accounting reversal of a prior accrual 57 – 69 3 Operations Mining operations performed well for the quarter with ore production up 20% on the previous quarter. Mined grade improved from 1.71% Cu to 1.89% Cu on higher volumes from Avoca Tank and Budgerygar mines. Capital development also increased significantly for the quarter. Mining at Murrawombie underground mine continued to be prioritised ahead of the planned mine closure prior to commencing the Murrawombie pit cutback. Mill throughput was higher on increased mine tonnes however metallurgical recoveries were impacted slightly by sericite-clay material in the Budgerygar ore. For the full year, copper production at Tritton was 19.7kt, within the published guidance range. The Murrawombie pit cutback project has been approved by the Aeris Board. Tenders for the open pit mining contract are currently being submitted for an expected start date in November 2024. The pit will be mined in two phases, with 1.2Mt ore supplied to the mill over FY25 and FY26. Costs All-in sustaining costs for the quarter were higher on increased production volumes but improved on a unit cost basis. Over the full year, all operating and capital costs were at or below the low end of guidance ranges. Exploration Drilling recommenced at the Constellation deposit during the quarter. By quarter end, seven drill holes had been completed, targeting the interpreted sub-vertical mineralised zone along the northern margin of the deposit, referred to as the “standup zone”. All seven drill holes targeted the upper portions of the stand-up zone within and surrounding the current reported Inferred Mineral Resource (refer to Figure 2). Assay results have been received for three drill holes, TAKD101, TAKD102, and TAKD104. Reportable high-grade copper intersections include: • TAKD101 - 25.0m @ 2.29% Cu, 0.42g/t Au, 4.61g/t Ag (from 134.0m) 1 - 6.5m @ 2.72% Cu, 1.09g/t Au, 1.03g/t Ag (from 163.0m) 1 • TAKD102 - 2.2m @ 5.93% Cu, 1.23g/t Au, 18.33g/t Ag (from 134.3m)1 - 15.0m @ 1.24% Cu, 0.72g/t Au, 2.88g/t Ag (from 218.0m)1 The drill program will continue throughout H1 FY25. 1 Drill hole true width lengths are between 60% to 85% of reported interval lengths. 4 Figure 2: Long section view looking north showing drill hole pierce points through Constellation Stand-Up Zone 5 Cracow Operations (QLD) Key points for quarter: • Strong gold production of 11.6koz at AISC of A$2,533/oz • Operating and capital costs as per plan • Annual production guidance achieved and all costs at the bottom end of guidance range Sep 23 Dec 23 Mar 24 Jun 24 FY24 Qtr Qtr Qtr Qtr YTD kt 115.6 106.1 109.4 120.0 451.0 Mined Grade g/t 3.29 3.28 2.90 3.06 3.13 Ore Milled kt 149.4 135.0 144.9 155.7 585.3 Milled Grade g/t 2.84 2.80 2.39 2.58 2.65 Recovery Au 93.3% 91.9% 91.4% 89.8% 91.6% Gold Produced koz 12.7 11.1 10.2 11.6 45.7 Gold Sold koz 12.8 11.4 10.1 11.6 45.9 Mining A$M 15.0 13.0 9.3 14.0 51.3 50 - 60 Processing A$M 6.4 5.9 6.5 6.9 25.6 26 - 31 Site G&A A$M 2.7 3.0 2.7 3.2 11.7 12 - 15 By-Product Credit A$M (0.3) (0.3) (0.2) (0.3) (1.1) Royalties A$M 2.1 2.0 1.8 2.3 8.1 Corporate G&A A$M 0.4 0.4 0.4 0.4 1.7 Inventory Movements A$M 2.4 0.7 (0.4) (0.2) 2.5 Sustaining Capital1 A$M 2.0 2.8 6.8 3.2 14.8 A$M 30.7 27.5 27.1 29.5 114.7 A$/oz 2,398 2,407 2,679 2,533 2,496 Growth Capital A$M 7.1 8.2 0.7 0.0 16.0 23 - 28 Exploration A$M 1.1 0.7 1.3 1.8 4.9 4-5 A$M 38.9 36.4 29.1 31.3 135.6 A$/oz 3,038 3,191 2,877 2,688 2,952 Production Summary Unit Ore Mined FY24 Guidance 38 - 48 Cost Summary All-In Sustaining Costs2 All-In Costs2 1. Includes sustaining capital, capitalised mine development and financing payments (principal and interest) on leased assets 2. All-In Sustaining and All-In Costs are based on gold sold 18 - 22 Operations Ore mined for the quarter was ahead of plan, with grades up on the previous quarter. Mill throughput was higher on increased mined tonnes and stockpile feed. Recovery was down slightly due to the nature of the underground ore sources mined this quarter. 6 For the full year, ore tonnages were ahead of forecast and gold production was towards the upper end of the guidance range. Costs All-in sustaining costs were higher quarter-on-quarter due to increased production rates but lower on a unit basis with more ounces produced. Over the full year, all operating costs were at the low end of guidance ranges. Capital costs were well contained and lower than guidance. Exploration Western Vein Field Underground exploration drilling continued during the quarter, targeting the Apollo (formerly Killarney Deeps) and Coronation West structures in the Western Vein Field. At the Apollo structure, a further six drill holes were completed within the quarter, targeting extensions to the high-grade mineralisation intersected from previous drilling (KLU213 3.7m @ 11.2g/t Au and KLU279 0.8m @ 4.1g/t Au) 1. Drilling to date has defined a high-grade gold lode characterised by varying amounts of epithermal veining, including either breccia or quartz lode (refer to Figure 3). Drilling elsewhere along the Apollo structure has intersected the structure however there is an absence of veining. Further drilling is planned for the next quarter targeting prospective areas up dip and along strike from the currently defined mineralised lode. Figure 3: Oblique view looking northwest showing drill hole pierce points through the Apollo structure at the Western Vein Field 1 Refer to ASX Announcement “Quarterly Activities Report – March 2024” dated 30th April 2024 7 A drilling program targeting the Coronation West structure has commenced, aiming to identify high-grade gold zones similar to the nearby Sterling deposit. Five drill holes were completed during the quarter, testing the structure surrounding the initial drill intercept (IMU148 1.7m @ 2.8g/t Au). Assay results are pending for all five drill holes. Figure 4: Plan view of the Cracow Western Vein Field showing the position of the Apollo and Coronation West structures 8 Golden Plateau During the quarter, exploration drilling at the Golden Plateau deposit was completed. Six holes were completed in the current quarter, totalling fifteen drill holes for the program; excluding four that were abandoned prior to reaching target depth. Previous drill programs completed by Aeris to inform the maiden Mineral Resource were focused on the Harry’s, Chaz and King north-south structures only. The current drill program was designed to test the remaining interpreted north-south trending structures south of the historic workings and test for strike extensions to Harry’s, Chaz and King lodes. The drill program successfully intersected the interpreted north-south structures, however, they failed to host epithermal quartz veining/gold mineralisation. The prospectivity along these structures has been downgraded. Several minor splays/flat makes were intersected and reported gold mineralisation (refer to Appendix). Although further drilling is required to understand the significance of these structures, they are not expected to represent significant drill targets. Five drill holes targeted strike extensions (up to 100m) beyond the modelled Chaz and King lodes. Drilling intersected epithermal quartz veining however drill intercepts returned modest Au grades (<3g/t Au – refer to Appendix). It is possible with additional drilling higher gold grades will be intersected. An updated Mineral Resource estimate is in progress and expected to be completed early in Q1 FY25. Figure 5: Plan view of the Golden Plateau deposit showing current Mineral Resource, historical underground workings (grey wireframes), drill holes used to inform the 2023 Mineral Resource (grey lines) and current drill program (blue lines) 9 North Queensland Operations (QLD) Key points for quarter: • Continued strong mining performance with ore tonnes ahead of plan • Ore processing again below forecast due to lack of available toll processing windows resulting in 1.3kt Cu produced • Significant stockpiles ~200kt of mined ore at Mt Colin and Ernest Henry mill available for processing in the following quarter • For the full year, copper production was below guidance although operating costs were within guidance ranges • Mining activities now expected to continue until early Q2 FY25 (previously late Q4 FY24) Production Summary Unit Ore Mined kt Mined Grade Sep 23 Dec 23 Mar 24 Jun 24 FY24 Qtr Qtr Qtr Qtr YTD 106.9 124.3 140.3 139.0 510.5 FY24 Guidance % Cu 2.01 2.26 2.08 2.22 2.15 Ore Milled kt 127.4 81.0 97.5 104.9 410.9 Milled Grade % Cu 1.96 2.52 2.15 1.96 2.11 Recovery Cu 95.2% 77.0% 76.1% 61.5% 78.3% Copper Produced kt 2.4 1.6 1.6 1.3 6.8 8 - 10 Gold Produced koz 1.1 0.8 1.3 1.2 4.3 4-5 Mining A$M 10.9 9.2 8.1 8.5 36.7 34 - 41 Processing A$M 5.9 5.8 5.8 7.7 25.2 25 - 30 Site G&A A$M 1.7 1.1 1.5 1.2 5.5 7-8 TC/RCs A$M 1.8 1.2 1.1 0.9 5.0 7-9 Product Handling A$M 1.9 1.2 1.3 1.1 5.5 7-9 By-Product Credit A$M (1.3) (5.9) (1.8) (5.0) (14.0) Royalties A$M 1.3 0.9 0.5 0.9 3.7 Corporate G&A A$M 0.3 0.3 0.3 0.3 1.3 Inventory Movements A$M (3.4) 4.7 (2.1) 1.6 0.8 Sustaining Capital1 A$M (0.1) - - (0.1) (0.1) A$M 19.0 18.6 14.6 17.2 69.6 A$/lb 3.66 5.38 4.16 6.17 4.64 A$M 0.5 0.2 0.0 0.3 0.9 A$M 19.5 18.8 14.7 17.4 70.5 A$/lb 3.75 5.44 4.16 6.26 4.70 Cost Summary All-In Sustaining Costs2 Exploration All-In Costs2 1. 2. - - Includes sustaining capital, capitalised mine development and financing payments (principal and interest) on leased assets All-In Sustaining and All-In Costs are based on copper produced Operations Ore mined at Mt Colin was again strong for the quarter. Over 510kt of ore was mined for the year, significantly above plan. Mining of the cave zone was completed just after quarter end. Ore mined in Q1 FY25 will be solely fresh material from sill pillars. 10 Processed tonnes were up on the previous quarter but still below forecast due to the lack of available toll processing windows. Metallurgical recoveries were impacted by the high proportion of oxidised cave material in the mill feed. Copper production was below plan for the quarter and below guidance for the full year. At the end of the quarter, 53kt of mined ore was stockpiled at Mt Colin with a further stockpile of 150kt at an estimated grade of 2.2% Cu at Ernest Henry available for processing. Ore haulage from the mine site to Ernest Henry was ahead of plan. Costs Operating costs for the quarter were in line with plan. Processing costs were higher due to increased volumes crushed and hauled. For the full year, operating costs were within or lower than guidance ranges. Exploration No material exploration activities were undertaken in North Queensland during the quarter. Barbara Project The Feasibility Study for the Barbara underground mining project is well advanced and is expected to be completed in Q1 FY25. Discussions continue with the Queensland Government environmental regulators about the modification of the Barbara site environmental authority (EA) required for the proposed underground mining project. 11 Jaguar Operations (WA) Key points for quarter: • Operation on care and maintenance • Pre-feasibility work on restart options continues • Exploration undertaken to test high-priority Heather Bore for gold mineralisation in fresh rock and to understand structural settings Sep 23 Dec 23 Mar 24 Jun 24 FY24 Qtr Qtr Qtr Qtr YTD FY24 Guidance kt % Zn kt % Zn Zn kt kt koz koz 55.2 7.05 66.8 5.92 78.2% 3.1 0.6 0.4 84 - - - 55.2 7.05 66.8 5.92 78.2% 3.1 0.6 0.4 84 1.2 - 1.5 0.2 - 0.3 0.2 - 0.3 33 - 42 Mining Processing Site G&A TC/RCs Product Handling By-Product Credit Royalties Corporate G&A Inventory Movements Sustaining Capital1 A$M A$M A$M A$M A$M A$M A$M A$M A$M A$M 8.8 7.8 3.4 4.3 2.0 (12.6) 1.0 0.0 4.2 2.7 1.5 (0.2) 2.4 (2.2) 0.1 1.4 - 0.6 1.4 0.7 0.1 0.7 0.5 1.0 0.1 11.6 9.5 7.5 2.1 2.1 5-6 3-4 2-3 2-3 1-2 (11.2) 0.9 0.0 4.2 2.8 1–2 All-In Sustaining Costs2,3 A$M 21.6 2.9 2.7 2.4 29.6 A$/lb 3.17 - - - 4.34 Growth Capital Exploration A$M A$M 0.0 0.5 0.1 0.2 0.5 0.0 1.2 A$M 22.1 3.0 2.9 2.9 30.8 A$/lb 3.24 - - - 4.52 Production Summary Unit Ore Mined Mined Grade Ore Milled Milled Grade Recovery Zinc Produced Copper Produced Gold Produced Silver Produced Cost Summary All-In Costs2 1. 2. 3. 1–2 1–2 Includes sustaining capital, capitalised mine development and financing payments (principal and interest) on leased assets All-In Sustaining and All-In Costs are based on zinc produced Costs after the Sep quarter related to care and maintenance activities Care and Maintenance A team of 8 people are on site to manage ongoing care and maintenance activities, including mine dewatering. Care and maintenance costs totalled $2.4M for the quarter but are forecast to reduce in FY25. Pre-Feasibility Study Aeris continues the pre-feasibility study on options to restart the Jaguar Operations including studies on mining strategy, process plant configuration, site infrastructure and services, permitting and workforce strategy. 12 Exploration During the quarter a two-hole diamond drill program was completed at the Heather Bore gold prospect. The program, totalling 745.6m was designed to test for the presence of primary gold mineralisation in fresh rock, below an extensive shallow +0.5g/t gold anomaly within the weathered rock profile 1. The diamond drill holes will also assist with understanding the structural setting and controls on mineralisation to aid and refine future drill programs at the prospect. The drill holes intersected similar lithological sequences, dominated by alternating volcanic sequences (andesite flows, andesite crystal tuff, and dolerite) with minor graphitic shale and volcaniclastic units in between. A range of different alteration assemblages were observed throughout each hole, the most prolific including hematite, sericite, silica and pyrite with lesser quantities of albite and chlorite (refer to Figure 6). The alteration packages are encouraging indicating hydrothermal fluids have passed through the rock sequences. The Company cautions no correlation is being drawn between the observed alteration assemblages and potential gold tenor. Samples have been submitted for assay with results expected early in the following quarter. A B C D E F Figure 6: Various alteration styles observed from the Heather Bore diamond drill program A) Hematite-sericite-silica-pyrite (<2%); B) Sericite-hematite-silica-pyrite (3-5%); C) sericitesilica-pyrite (5-8%); D) silica-sericite-pyrite (8-10%); E) albite-silica-pyrite (≤1%); F) hematitesilica-chlorite-albite-sericite-pyrite (5-8%). 1 Refer to ASX Announcement “Exploration and Resource Drilling Update” dated 17th June 2024 13 Figure 7: Plan view of the Heather Bore prospect 14 Stockman Project (VIC) Key points for quarter: • Metallurgical test work (proof of concept) in combination with engineering studies were completed for the modified flotation flowsheet in combination with a downstream Albion process treatment. The results showed a step change improvement in metal recoveries with potential to enhance the overall economics of the Stockman Project. • Detailed test work and engineering of a simplified flotation plant at the mine site and downstream Albion processing plant is now proceeding • Independent technical review signed off the groundwater environmental quality report for submission to the regulators • Stage 1 of the Benambra school capital improvement works are near completion Corporate Cash and Receivables At the end of the quarter, Aeris had useable cash and receivables of $33.4 million with a closing cash balance of $24.8 million. (A$ Million) Sep 2023 Qtr Dec 2023 Qtr Mar 2024 Qtr Jun 2024 Qtr Closing cash Jaguar - concentrate receivables Mt Colin Cracow - gold dore Tritton - concentrate receivables 21.9 11.5 1.6 0.3 8.1 22.7 5.5 0.1 16.4 19.4 2.0 0.3 6.6 24.8 1.2 0.0 7.5 Useable Cash and Receivables 43.4 44.7 28.3 33.4 Sep Dec Mar Jun 2023 2023 2024 2024 Qtr Qtr Qtr Qtr Opening cash Cash flows from operations Cash flows from investment 19.5 0.1 (32.0) 21.9 (0.3) (26.1) 22.7 29.2 (29.0) 19.4 35.3 (26.6) Cash flows from financing 1 34.3 27.1 (3.4) (3.4) Closing cash 21.9 22.7 19.4 24.8 (A$ Million) (Unaudited) 1 Cash flows from investment includes payments for environmental bonding (the March quarter has been adjusted by $3.0 million which was previously presented in cash flows from financing) 15 A further $7 million during the quarter was applied to restricted cash for environmental bonding obligations (taking the total to $10 million) which is not included in the closing cash balance. During the quarter, the Trade Payable and Other Creditors balance was steady at $73.2 million. Debt and Hedging At the end of the quarter, the Company’s debt position remained unchanged with $40 million drawn on the WHSP facility. The Company had no hedges in place at the end of the quarter. Aeris has engaged Burnvoir Corporate Finance to advise on a process to refinance the company’s debt and bonding facilities. The processed is well advanced with a number of term sheets received. Authorised for lodgement by: Andre Labuschagne Executive Chairman ENDS For further information, please contact: Andre Labuschagne Executive Chairman Tel: +61 7 3034 6200 Stefan Edelman General Manager – Corporate Development investorrelations@aerisresources.com.au or visit our website at www.aerisresources.com.au About Aeris Aeris Resources is a mid-tier base and precious metals producer. Its copper dominant portfolio comprises three operating assets, a mine on care and maintenance, a longlife development project and a highly prospective exploration portfolio. Aeris has a strong pipeline of organic growth projects, an aggressive exploration program and continues to investigate strategic merger and acquisition opportunities. The Company’s experienced board and management team bring significant corporate and technical expertise to a lean operating model. Aeris is committed to building strong partnerships with its key community, investment and workforce stakeholders. 16 Competent Persons Statements Mr Chris Raymond confirms that he is the Competent Person for all Exploration Results at the Tritton Operation, and he has read and understood the requirements of the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code, 2012 Edition). Mr Raymond is a Competent Person as defined by the JORC Code, 2012 Edition, having relevant experience to the style of mineralisation and type of deposit described in the Report and to the activity for which he is accepting responsibility. Mr Raymond is a Member of the Australian Institute of Geoscience (MAIG No. 6045). Mr Raymond has reviewed the Report to which this Consent Statement applies and consents to the inclusion in the Report of the matters based on his information in the form and context in which it appears. Mr Raymond is a full-time employee of Aeris Resources Limited. The information in this report that relates to Exploration Targets or Exploration Results at the Cracow Operation is based on information compiled by Craig Judson. Mr Judson confirms that he is the Competent Person for all Exploration Results, summarised in this Report and he has read and understood the requirements of the 2012 Edition of the Australasian Code for Reporting of Exploration Targets, Exploration Results, Mineral Resources and Ore Reserves (JORC Code, 2012 Edition). Mr Judson is a Competent Person as defined by the JORC Code, 2012 Edition, having relevant experience to the style of mineralisation and type of deposit described in the Report and to the activity for which he is accepting responsibility. Mr Judson is a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM No. 325510). Mr Judson has reviewed the Report to which this Consent Statement applies and consents to the inclusion in the Report of the matters based on his information in the form and context in which it appears. Mr Judson is a full-time employee of Aeris Resources Limited. The information in this report that relates to Exploration Targets or Exploration Results at the Jaguar Operation is based on information compiled by Alain Cotnoir. Mr Cotnoir confirms that he is the Competent Person for all Exploration Results, summarised in this Report and he has read and understood the requirements of the 2012 Edition of the Australasian Code for Reporting of Exploration Targets, Exploration Results, Mineral Resources and Ore Reserves (JORC Code, 2012 Edition). Mr Cotnoir is a Competent Person as defined by the JORC Code, 2012 Edition, having relevant experience to the style of mineralisation and type of deposit described in the Report and to the activity for which he is accepting responsibility. Mr Cotnoir is a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM No. 315017). Mr Cotnoir has reviewed the Report to which this Consent Statement applies and consents to the inclusion in the Report of the matters based on his information in the form and context in which it appears. Mr Cotnoir is a full-time employee of Aeris Resources Limited. 17 APPENDIX A: Summary of drill hole collar and survey details for holes completed during the quarter as part of the Constellation resource definition drill program TAKD101 Easting1 (m) 498,419 Northing1 (m) 6,560,986 163 Total Depth (m) 219.8 TAKD102 498,467 6,560,931 163 282.8 1.0 -55.0 Complete TAKD103 498,431 6,561,054 163 111.1 6.5 -57.0 Failed TAKD104 498,430 6,561,049 163 119.3 6.0 -57.0 Complete TAKD105 498,369 6,561,027 163 166.7 19.5 -53.5 Complete TAKD106 498,508 6,560,984 163 205.1 1.5 -54.0 Complete TAKD107 498,524 6,561,019 163 154.2 3.5 -54.5 Complete Hole ID RL (m) Azimuth2 Dip Type 0.5 -56.0 Complete 1 Easting and northing coordinates are reported in AGD66 Zone 55. 2 Azimuth is recorded as a magnetic azimuth reading. APPENDIX B: Summary of significant copper intersections returned during the quarter from the Constellation resource definition drill program Hole ID Type From (m) TAKD101 TAKD101 TAKD102 TAKD102 TAKD103 TAKD104 DD DD DD DD 134.0 163.0 134.3 218.0 To (m) Interval1 Cu (%)2 Au (g/t) (m) 159.0 25.0 2.29 0.42 169.5 6.5 2.72 1.09 136.5 2.2 5.93 1.23 233.0 15 1.24 0.72 Drill hole failed, redrilled as TAKD104 No significant assay result Ag (g/t) Cu Type 4.61 1.03 18.33 2.88 Primary Primary Primary Primary 1 Drill hole true width lengths are between 60% to 85% of reported interval lengths. 2 Assay intervals have been reported at a 0.5% Cu cut-off grade with a maximum internal dilution of 3.0 m. APPENDIX C: Summary of drill hole collar and survey details for holes completed during the quarter as part of the Western Vein Field near-mine exploration and Golden Plateau resource definition programs Hole ID Easting1 (m) Northing1 (m) RL (m) Total Depth (m) Azimuth2 Dip Comments GPS123 227,837 7,200,550 454 452.2 265.1 -32.3 Complete GPS124 227,837 7,200,549 454 457.9 252.3 -30.2 Complete GPS125 227,292 7,200,386 411 293.2 329.5 -41.4 Complete GPS126 227,286.69 7,200,383 411 395.1 279.4 -35.4 Complete GPS127 227,288.25 7,200,385 411 312.3 306 -40.2 Complete GPS128 227,286.92 7,200,382 411 434.0 260.2 -40.8 Complete KLU282 -446.65 5325.0 1524 521.7 33.95 -41.6 Complete KLU283 -445.31 5324.2 1524 392.8 17.45 -36.5 Complete KLU284 -447.37 5325.0 1523 13.0 346.25 -54.9 Complete KLU284A -447.37 5325.0 1523 314.6 346.25 -54.9 Abandoned KLU285 -447.42 5325.3 1523 347.1 344.25 -46.7 Complete KLU286 -447.19 5325.1 1523 338.7 350.15 -62.9 Complete KLU287 -264.18 5380.0 1733 360.0 303.55 -31.8 Abandoned KLU287W1 -264.18 5380.0 1733 410.5 303.55 -31.8 Abandoned STU162 667 6386 1672 395.8 250.7 -56.3 Complete 18 Hole ID Easting1 (m) Northing1 (m) RL (m) Total Depth (m) Azimuth2 Dip Comments STU163 667 6386 1672 167.7 206.8 5.6 Complete STU164 667 6386 1672 326.8 260.6 -56 Complete STU165 667 6386 1672 289.8 210.7 -47.5 Complete STU166 667 6386 1672 421.8 229.9 -37.3 Complete 1 Easting and northing coordinates are reported in MGA94 Zone 53 grid for Golden Plateau, Klondyke Local grid for Western Vein Field. 2 All down hole surveys are reported in MGA94 Zone 53 grid for Golden Plateau drill holes and Klondyke local grid for Western Vein Field drill holes. APPENDIX D: Summary of significant gold intercepts returned during the quarter from the Western Vein Field near-mine exploration and Golden Plateau resource definition drill programs Hole ID From (m) To (m) Interval (m) GPS115 281.4 282.5 1.1 Est. true Width (m) 0.8 GPS115 386.0 387.0 1.0 GPS118A 355.0 357.0 GPS118A 429.1 GPS120B Domain Au g/t 1 Ag g/t1 Comment CZ 2.1 3 0.8 KG 2.2 5 2.0 1.5 CZ 0.8 3 430.0 0.9 0.7 KG 2.8 78 179.8 182.8 3.0 2.5 HY 2.0 55 GPS123 384.7 385.5 0.8 0.6 KGS 9.6 2 GPS125 229.6 230.4 0.8 0.7 FM 7.3 10 GPS125 241.7 243.9 2.2 1.7 FM 3.4 5 GPS127 230.7 237.0 6.7 4.9 GCS 1.0 6 GPS127 249.8 251.7 1.9 1.3 GCS 2.4 13 GPS128 411.1 412.0 0.9 0.7 HY 2.7 23 KLU282 257.1 258.9 1.8 1.6 AP 5.8 N/A Apollo target KLU282 261.1 262.42 1.32 1.2 AP 2.4 N/A