Announcement PDF Quarterly Activities Report | For the period ended 31 March 2024 Quarterly Activities Report For the period ended 31 March 2024 Highlights • Copper equivalent production of 9.1kt for the quarter at AISC of A$5.31/lb • Tritton production impacted by labour and equipment availability – contract labour and additional equipment introduced to improve production rates next quarter • Gold production and costs at Cracow in line with plan. Recent drilling identifies potential new vein structures in Western Vein Field. • Mt Colin mine production in line with plan although toll processing (and copper production) behind schedule • Jaguar on care and maintenance – exploration to focus on gold potential while prefeasibility study underway • Stockman feasibility work on the Albion process continues • Environmental Amendment for underground mining at Barbara submitted and feasibility study commenced. • Group FY24 guidance maintained – more information on forecast production and costs is provided in the operational summaries Unit Sep 23 Qtr Dec 23 Qtr Mar 24 Qtr FY24 YTD FY24 Guidance /mmhrs 1.04 1.72 1.10 - - Copper produced kt 8.1 6.4 5.9 20.5 28 - 35 Zinc produced kt 3.1 - - 3.1 1.2 - 1.5 LTIFR Gold produced koz 15.2 13.2 12.7 41.0 48 - 60 Silver produced koz 121.3 39.2 37.3 197.8 181 - 227 Cu eq production kt 12.9 9.7 9.1 31.7 40 - 50 Operating Costs Mining A$M 60.1 48.7 41.8 150.6 202 - 243 Processing A$M 28.9 18.2 20.7 67.8 84 - 101 Site & G&A A$M 12.9 10.4 10.1 33.4 43 - 52 TC/RCs A$M 11.4 3.7 5.1 20.2 28 - 34 Product handling A$M 7.3 5.2 4.2 16.6 24 - 29 Sustaining A$M 21.8 16.3 20.8 58.9 76 - 91 Capital Costs Growth A$M 10.1 9.5 (0.3) 19.3 34 - 41 Exploration A$M 2.6 1.7 1.9 6.2 12 - 15 Projects inc. Stockman A$M 1.1 0.6 0.4 2.0 2-3 AISC A$M 154.4 115.4 107.1 376.9 - AISC $/lb Cu eq 5.44 5.40 5.31 5.39 - Aeris Resources Limited 1 Group Safety, Environment and Community Aeris has recorded no lost time injuries through the last quarter, bringing the 12-month LTIFR down to 1.10. There were four Reportable Environmental Incidents recorded in the March quarter. Incidents related to exceedances of in-stream sediment, surface water quality, and mandatory reporting level of a sediment dam in North Queensland, and groundwater drawdown from monitoring bores 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 4.3kt at AISC of $5.81/lb impacted by lower tonnes mined – people and equipment availability were key impacts on quarter result • Operating and capital costs continue to be well managed • Measures implemented to improve production rates including additional labour and equipment, and mine plan changes at several ore sources – strong Q4 forecast • Guidance maintained – expecting Tritton to deliver copper production around the mid-point of FY24 guidance with operating and capital costs at the bottom end of guidance Sep 23 Dec 23 Mar 24 FY24 Qtr Qtr Qtr YTD kt 301.2 319.5 260.0 880.7 % Cu 1.59 1.57 1.71 1.62 Ore Milled kt 332.1 315.6 260.6 908.3 Milled Grade % Cu 1.63 1.60 1.75 1.65 Recovery Cu 95.3% 95.2% 95.2% 95.3% Copper Produced kt 5.2 4.8 4.3 14.3 19 – 24 Gold Produced koz 1.0 1.2 1.2 3.4 6–7 Silver Produced koz 36.9 39.2 37.3 113.4 148 – 185 Mining A$M 25.3 25.1 23.9 74.2 113 – 136 Processing A$M 8.7 6.8 7.0 22.5 31 – 37 Site G&A A$M 5.1 3.9 5.2 14.1 22 – 27 TC/RCs A$M 5.4 4.6 4.0 14.0 19 – 23 Product Handling A$M 3.3 3.8 2.9 10.1 16 – 20 By-Product Credit A$M (4.1) (4.6) (5.2) (13.9) Royalties A$M 1.6 1.6 1.6 4.8 Corporate G&A A$M 0.5 0.5 0.5 1.6 Inventory Movements A$M 1.7 1.8 1.7 5.1 Sustaining Capital1 A$M 17.2 13.5 13.9 44.6 A$M 64.7 57.0 55.5 177.2 A$/lb 5.68 5.37 5.81 5.61 Growth Capital A$M 3.0 1.3 (1.0)3 3.3 10 – 12 Exploration A$M 0.6 0.7 0.3 1.6 7–9 A$M 68.3 59.0 54.8 182.1 A$/lb 5.99 5.55 5.74 5.77 Production Summary Unit Ore Mined Mined Grade FY24 Guidance Cost Summary All-In Sustaining Costs2 All-In Costs2 57 – 69 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 3 Operations Mine production at the Tritton Operations was below plan with only 260kt of ore mined and milled, producing 4.3kt Cu metal. Operations were impacted by a lack of skilled labour and poor equipment availability, along with a slower ramp up from Avoca Tank due to increased grade control drilling requirements. A number of measures have been implemented during Q3 to improve Q4 production: • Additional trucks and loaders, both rental and surplus equipment from Jaguar, have been brought into service at Tritton • Contract labour has been obtained to fill critical production roles • The mining sequence at Murrawombie has been changed from bottom-up to top-down, enabling increased production rates • Mining at Avoca Tank is transitioning to higher productivity double lift stopes • Production resources at the Tritton mine have been reallocated to higher grade remnant stopes in the central part of the mine. With these changes in place, Aeris is forecasting a much stronger final quarter for the year. As a result, Aeris expects Tritton to deliver copper production around the midpoint of the FY24 guidance range. Costs Costs continue to be well controlled at Tritton, with total operating and capital costs for the year expected to be towards the bottom end of the FY24 guidance range. AISC (unit costs) for Q3 were higher quarter-on-quarter on the back of lower production volumes. Exploration No material exploration activities were undertaken at Tritton for the quarter. The next drilling program at Constellation is scheduled to commence in early May 2024. 4 Cracow Operations (QLD) Key points for quarter: • Gold production of 10.2koz at AISC of A$2,679/oz • Operating and capital costs on track • Guidance maintained – Cracow on track to achieve upper end of production guidance and lower end of operating and capital cost guidance for FY24 Sep 23 Dec 23 Mar 24 FY24 Qtr Qtr Qtr YTD kt 115.6 106.1 109.4 331.0 Mined Grade g/t 3.29 3.28 2.90 3.16 Ore Milled kt 149.4 135.0 144.9 429.5 Milled Grade g/t 2.84 2.80 2.39 2.67 Recovery Au 93.3% 91.9% 91.4% 92.2% Gold Produced koz 12.7 11.1 10.2 34.1 Gold Sold koz 12.8 11.4 10.1 34.3 Mining A$M 15.0 13.0 9.3 37.3 50 - 60 Processing A$M 6.4 5.9 6.5 18.8 26 - 31 Site G&A A$M 2.7 3.0 2.7 8.4 12 - 15 By-Product Credit A$M (0.3) (0.3) (0.2) (0.7) Royalties A$M 2.1 2.0 1.8 5.9 Corporate G&A A$M 0.4 0.4 0.4 1.3 Inventory Movements A$M 2.4 0.7 (0.4) 2.7 Sustaining Capital1 A$M 2.0 2.8 6.8 11.6 A$M 30.7 27.5 27.1 85.2 A$/oz 2,398 2,407 2,679 2,484 Growth Capital A$M 7.1 8.2 0.7 16.0 23 - 28 Exploration A$M 1.1 0.7 1.3 3.1 4-5 A$M 38.9 36.4 29.1 104.3 A$/oz 3,038 3,191 2,877 3,042 Production Summary Unit Ore Mined FY24 Guidance 38 - 48 Cost Summary All-In Sustaining Costs2 All-In Costs2 18 - 22 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 Operations Ore mined and milled was in-line with plan, with run of mine ore supplemented with low grade stockpiles. Underground development ahead of schedule for the quarter and year to date. A change to the mining schedule due to successful reserve replacement has pushed out production from higher grade stopes, resulting in slightly lower mined grade than planned. These higher grade stopes will now be mined in FY25. Recovery was also slightly lower than planned due to lower mill feed grade. 5 Costs Operating costs for the quarter were in line with plan. Sustaining capital (predominantly underground development) increased from the previous quarter reflecting the updated mine plan. All-in sustaining costs were higher quarter on quarter due to increased sustaining capital spend and lower production ounces due to lower mined grades. Exploration Western Vein Field Underground exploration drilling continued during the quarter, targeting the Apollo (formerly Killarney Deeps) and Bazsickle structures in the Western Vein Field. At the Apollo structure, a further three drill holes (six in total) were completed within the quarter, targeting extensions to the high-grade mineralisation intersected from previous drilling (KLU213 1 3.7m @ 11.2g/t Au and KLU279 2 0.8m @ 4.1g/t Au). Of note, drill hole KLU282 targeted the Apollo structure further east along strike, intersecting variable epithermal quartz veining over a 200m down-hole length (assays pending). From preliminary interpretations, it appears the Apollo structure has changed orientation and drill hole KLU282 has been drilled sub-parallel to the structure. The nearby Killarney structure has a similar fault orientation change, resulting in the formation of a fault jog with a significant increase in quartz volume and variable gold grades. The Killarney fault jog was mined as a large bulk tonnage, differing from the general narrow vein selective stoping approach. Further drilling is planned at the Apollo structure in the upcoming quarter designed to increase the footprint of the high-grade shoot. 1 Previously unreported drill hole completed in July 2022 2 Refer to December 2023 Quarterly Report 6 Figure 2 – Oblique view looking northwest showing drill hole pierce points through the Apollo structure at the Western Vein Field. At the Bazsickle structure a further two drill holes have been completed. Both drill holes intersected epithermal quartz veining along the structure, with assay results returned for BZU186 reporting 0.8m 1 @ 19.1 g/t Au. Further drilling is in progress testing the potential size of the mineralised shoot along the Bazsickle structure. 1 True thickness (m) 7 Figure 3 – Plan view of the Cracow Western Vein Field showing the position of the Apollo and Bazsickle structures. 8 Golden Plateau During the quarter, exploration drilling re-commenced at the Golden Plateau deposit, targeting the remaining interpreted north-south trending structures with the potential to host gold mineralisation south of the historic underground workings. Previous drill programs completed by Aeris to inform the maiden Mineral Resource were focused on targeting the Harry’s, Chaz and King north-south structures only. The current drill program was designed to test the remaining north-south structures. By quarter end, 7 of the planned 15 drill holes were completed. Drill holes were planned to intersect the interpreted structures within the prospective stratigraphic units. Golden Plateau displays a mixture of andesitic lavas (high prospective for gold mineralisation) and fragmental volcaniclastics (low prospectivity for gold mineralisation). Assay results from the drill program are pending. Once the program has been completed and all data have been received and interpreted, a more comprehensive update will be provided. Figure 4 – Plan view of the Golden Plateau deposit showing current Mineral Resource (red wireframes), historical underground workings (grey wireframes), drill holes used to inform the 2023 Mineral Resource (grey lines), current drill program (blue lines) and targeted north-south structures (red dashed lines). 9 North Queensland Operations (QLD) Key points for quarter: • Mining at Mt Colin continues to progress better than plan due to strong performance from the “cave” zone material • One processing run completed resulting in copper production of 1.6kt at improved AISC of $4.16/lb • Post quarter end a processing run for ca. 105kt ore was completed in mid-April. • Increased ore recovery from the “cave” zone and pillars means mining activities now scheduled to extend into Q1 FY25 • Forecast ore stockpiles (Mt Colin and Processing Facility) as at end of June of ca. 200kt @ ~2% Cu. Additional processing runs scheduled in Q1 and Q2 of FY25. • Due to reduced processing runs through the year, copper production is forecast to be below guidance for FY24 despite mining ahead of plan for the year • Barbara feasibility study commenced and Environmental Amendment submitted (after quarter end) Production Summary Unit Ore Mined kt Mined Grade Sep 23 Dec 23 Mar 24 FY24 Qtr Qtr Qtr YTD 106.9 124.3 140.3 371.4 FY24 Guidance % Cu 2.01 2.26 2.08 2.12 Ore Milled kt 127.4 81.0 97.5 305.9 Milled Grade % Cu 1.96 2.52 2.15 2.17 Recovery Cu 95.2% 77.0% 76.1% 83.5% Copper Produced kt 2.4 1.6 1.6 5.5 8 - 10 Gold Produced koz 1.1 0.8 1.3 3.2 4-5 Mining A$M 10.9 9.2 8.1 28.2 34 - 41 Processing A$M 5.9 5.8 5.8 17.5 25 - 30 Site G&A A$M 1.7 1.1 1.5 4.3 7-8 TC/RCs A$M 1.8 1.2 1.1 4.1 7-9 Product Handling A$M 1.9 1.2 1.3 4.4 7-9 By-Product Credit A$M (1.3) (5.9) (1.8) (9.0) Royalties A$M 1.3 0.9 0.5 2.8 Corporate G&A A$M 0.3 0.3 0.3 1.0 Inventory Movements A$M (3.4) 4.7 (2.1) (0.8) Sustaining Capital1 A$M (0.1) 0.0 0.0 (0.1) A$M 19.0 18.6 14.6 52.4 A$/lb 3.66 5.38 4.16 4.29 A$M 0.5 0.2 0.0 0.7 A$M 19.5 18.8 14.7 53.1 A$/lb 3.75 5.44 4.16 4.35 Cost Summary All-In Sustaining Costs2 Exploration All-In Costs2 1. 2. 0 0 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 10 Operations Ore mining at Mt Colin continues to be strong, with year to date mined tonnes ahead of plan. Production from the “cave” zone in the upper levels of the mine continues to perform well. Due to strong geotechnical performance of the upper levels of the cave and a revised mine design for pillar extraction, mining at Mt Colin will continue approximately 3 months longer than planned and into Q1 FY25. One processing run was completed during the quarter resulting in copper production of 1.6kt. Metallurgical recovery was again impacted by high levels of transitional material from the cave being processed. At the end of the quarter, mined ore stockpiles at the Mt Colin mine and the toll processing plant totalled 168kt (more than one quarter of mining). Post the end of the quarter a further processing run of 105kt was completed in midApril. There are currently no further processing runs scheduled in FY24 and as a result, copper production for FY24 is forecast to be below guidance. At the end of FY24, ore stockpiles of approximately 200kt grading 2% Cu available for processing are forecast. Processing runs have been scheduled in quarters 1 and 2 in FY25. Costs Operating costs for the quarter were in line with plan. Mining costs continue to decline with the cave zone in harvest mode. Exploration No material exploration activities were undertaken in North Queensland during the quarter. Barbara Project The Feasibility Study for the Barbara underground mining project commenced towards the end of the quarter and is expected to be completed in Q1 2025. Early in the June quarter the Company submitted the Environmental Amendment for underground mining at Barbara. 11 Jaguar Operations (WA) Key points for quarter: • Operation now on care and maintenance • Pre-feasibility work on restart options continues • Exploration activities to focus on gold potential Sep 23 Dec 23 Mar 24 FY24 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 84.4 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 10.9 9.0 6.5 2.1 2.1 (11.2) 0.9 0.0 4.2 2.8 All-In Sustaining Costs2,3 A$M 21.6 2.9 2.7 27.2 A$/lb 3.17 - - 3.99 Growth Capital Exploration A$M A$M 0.0 0.5 0.1 0.2 0.0 0.8 A$M 22.1 3.0 2.9 28.0 A$/lb 3.24 - - 4.10 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. 5-6 3-4 2-3 2-3 1-2 1–2 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 for the December and March quarters 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. Pre-Feasibility Study (PFS) Aeris continues the PFS on options to restart the Jaguar Operations, including a focus on mining sequence, Teutonic Bore pit study, underground mine and surface infrastructure and services, and the development of concept flowsheet options for process plant. 12 Exploration Exploration at the Jaguar Operation has transitioned to focusing exclusively on gold. By the end of the quarter, the team had completed a strategic review of the tenement package and identified five priority corridors considered highly prospective for gold mineralisation. The strategic review was driven by a detailed geological interpretation across the tenement package, incorporating an extensive and ongoing regional mapping campaign supported by detailed magnetic and gravity geophysical datasets, including the regional gravity survey completed in early 2023. The five target areas considered prospective for gold mineralisation include: 1. 2. 3. 4. Heather Bore Shear • 12km structure sub-parallel to the terrane bounding Ockerberry fault • Structural corridor interpreted to occur along strike from the Thunderbox deposit • Includes the Heather Bore prospect, defined by an ~2km shallow gold anomaly Aesop – Halloween Trend • ~6km structural corridor associated with a brecciated magnetitehematite-pyrite altered porphyry intrusion • Limited historical drilling and surface sampling report numerous +0.5g/t Au intervals Pterodactyl – South Possie Well • ~10km orogenic structure with a significant Au, As and Sb anomalous geochemical signature • Includes numerous prospects including the Pterodactyl prospect, which has a historical drill intersection reporting 35m @ 1.00 g/t Au. Southern Boundary • 5. Interpreted extension of the Pterodactyl – South Possie Well favourable geological setting to the southern tenement boundary Granite Margin Domain • Structural complexity within and along the margins of large granite body(s) Preparations are underway to complete a diamond drill program at the Heather Bore prospect. The Heather Bore prospect is defined by a large 2km gold anomaly from historical aircore drill programs, completed by previous owners. The aircore holes across the prospect have tested for mineralisation within the weathered (saprolite) horizon only. The planned diamond program will test for gold mineralisation within fresh rock. 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. Drilling will commence in the June quarter. 13 Figure 5 – Plan view of the Jaguar Operation tenement package highlighting areas prospective for gold mineralisation denoted by shaded orange corridors. 14 Stockman Project (VIC) Key points for quarter: • Flotation test work on generation of a bulk concentrate was completed, demonstrating good recoveries. This test work is part of a broader study on the viability of the Albion process as an alternate metal treatment route for Stockman. • Albion leach test work commenced and expected to be finalised in Q4 FY2024. • Number of potential sites identified for the Albion facility, in collaboration with key governmental approval authorities, along with an initial assessment of additional project approval requirements. • Updated power supply strategy, including potential use of hydrogen as fuel source (byproduct from the oxygen plant required for the Albion process) • Stage 1 of Benambra School capital improvements works commenced Corporate Cash and Receivables At the end of the quarter, Aeris had useable cash and receivables of $28.3 million with a closing cash balance of $19.4 million. (A$ Million) Sep 2023 Qtr Dec 2023 Qtr Mar 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 Useable Cash and Receivables 43.4 44.7 28.3 Sep Dec Mar 2023 2023 2024 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 (26.0) Cash flows from financing 34.3 27.1 (6.4) Closing cash 21.9 22.7 19.4 (A$ Million) (Unaudited) $3 million during the quarter was applied to restricted cash for environmental bonding obligations and is not included in the closing cash balance. During the quarter, the Trade Payable and Other Creditors balance has further reduced to $73.9 million. 15 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. 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 Statement 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. 17 APPENDIX A: Summary of Western Vein Field Near-Mine Exploration and Golden Plateau Resource Definition drill holes Hole ID Easting1 (m) Northing1 (m) RL (m) Total Depth (m) Azimuth1 Dip Comments BZU185 688.6 5609.5 1789.2 267.0 190.2 14.2 Complete BZU186 688.5 5609.5 1789.1 227.9 205.4 11.2 Complete GPS114 227,294.8 7,200,559.0 466.2 374.2 233.8 -37.7 Complete GPS115 227,297.5 7,200,559.6 446.4 401.7 132.4 -52.2 Complete GPS116 227,165.9 7,200,599.6 468.2 359.4 101.8 -44.9 Complete GPS117 227,166.0 7,200,598.6 468.1 23.6 126.8 -57.3 Abandoned GPS117A 227,166.0 7,200,598.6 468.1 272.7 126.7 -51.1 Complete GPS118 227,167.1 7,200,598.3 468.2 65.5 113.7 -39.9 Abandoned GPS118A 227,167.2 7,200,598.4 468.2 457.8 112.8 -37.2 Complete GPS119 227,168.3 7,200,597.4 468.1 446.3 115.2 -32.2 Complete GPS120 226,860.9 7,200,333.6 406.3 22.9 68.7 -31.8 Abandoned GPS120A 226,863.5 7,200,335.8 406.3 26.2 68.4 -31.9 Abandoned GPS120B 226,863.2 7,200,336.3 406.4 182.8 66.1 -32.5 Abandoned GPS121 226,862.3 7,200,334.1 406.3 192.1 90.9 -47.5 Abandoned GPS122 226,862.4 7,200,333.0 406.2 263.3 108.5 -47.6 Complete KLU213 -394.8 5302.2 1538.5 296.5 5.8 -43.7 Complete KLU281 -446.6 5324.7 1524.3 475.2 11.4 -51.1 Complete KLU282 -446.6 5324.7 1524.3 521.7 34.0 -41.6 Complete 1 Easting and northing coordinates and bearings are reported in MGA94 for Golden Plateau, Klondyke Local grid for Western Vein Field. 2 All down hole surveys are reported in MGA94 grid for Golden Plateau drill holes and Klondyke local grid for Western Vein Field drill holes. APPENDIX B: Summary of Western Vein Field Near-Mine Exploration and Golden Plateau Resource Definition drill intercepts Hole ID From (m) To (m) Interval (m) Est. true Width (m) Domain Au g/t 1 Ag g/t1 BZU186 190.9 191.95 1.05 0.8 BZ 19.1 5.5 KLU213 257.30 262.80 5.50 3.8 AP 11.2 4.7 Comment Previously unreported drill hole completed in July 2022 1 Reported significant intervals are based on a minimum width of 0.4m, minimum Au grade 1g/t Au and a maximum of 1m of below cut-off material (<1g/t Au). AP Apollo, BZ Bazsickle 18 APPENDIX C JORC Code, 2012 Edition – Western Vein Field Near-Mine Exploration and Golden Plateau Resource Definition Drill Programs Table 1 Section 1 - Sampling Techniques and Data Criteria Commentary Sampling techniques Drilling 1. All samples have been collected via diamond drilling. 2. Most of the samples are collected at 1 metre intervals. Samples taken are half core or full core, dependent on the program requirements for core retention and further test work. Sample weights range from 2 kg to 4kg depending on sample length and half or whole core. 3. Samples are sent to an independent and accredited laboratory (ALS Brisbane). Samples less than 3kg are pulverised to a nominal 85% passing 75 microns. If sample weights exceed 3kg they are split via a rotary splitter and an approximate 3kg sub sample is retained and pulverised. After pulverisation a 50g sample is collected for fire assay. 4. The sample size and sample preparation techniques are considered appropriate for the style of mineralisation. 5. Industry prepared standards are inserted in approximately 1 in 20 samples. 6. The samples are considered representative and appropriate for this type of drilling. Drilling techniques 1. Drill holes are completed via diamond drilling NQ diameter. Occasional drill holes are started with HQ diameter and reduced to NQ diameter once competent ground is achieved. Drill sample recovery 1. The drillers record core recoveries on site at the drill rig. An Aeris Resources field technician and/or geologist then checks and verifies them. 2. Diamond drill core is pieced together as part of the core orientation process. During this process, depth intervals are recorded on the core and checked against downhole depths recorded by drillers on core blocks within the core trays. 3. Historically, core recoveries have been very high within and outside zones of mineralisation. Diamond core drilled to date from the current drill program has recorded very high recoveries, which are in line with historical observations. Logging 1. All diamond core is logged by an Aeris employee or a fully trained contract geologist. 2. All diamond core is geologically logged, recording lithology, vein quantity/texture/mineralogy, alteration, and weathering. 3. All geological and sample data is captured electronically within LogChief Software and uploaded to Aeris Resources licenced Datashed database. 4. All diamond drill core is photographed and digitally stored on the Company network. 5. Core is stored in core trays and labelled with downhole meterage intervals and drill hole ID. Sub-sampling techniques and sample preparation 1. All samples collected from diamond drill core are collected in a consistent manner. Half core samples are cut via an automatic core saw, and half core samples are collected on average at 1 metre intervals, with a minimum sample length of 0.4 metre and a maximum length of 1.2 metre. For whole core samples the entire sample interval is collected. 19 Criteria Commentary 2. Industry prepared independent standards are inserted approximately 1 in 20 samples. 3. The sample size is considered appropriate for the style of mineralisation and grain size of the material being sampled. Quality of assay data and laboratory tests 1. All samples are sent to ALS Laboratory Services at their Brisbane facility for sample preparation. Samples under 3 kg are pulverised to 85%, passing 75 microns. If samples are greater than 3kg, they are split prior to pulverising. 2. Samples are assayed via ME-MS61, a low-detection multi-element analytical method. Au assaying is via a 50