Announcement PDF Quarterly Activities Report | For the period ended 31 December 2023 Quarterly Activities Report For the period ended 31 December 2023 Highlights  Copper equivalent production of 9.7kt for the quarter at AISC of A$5.40/lb  Tritton performance impacted by skilled labour and equipment availability  Gold production and costs at Cracow in line with plan – tailings dam lift completed in early January ahead of schedule and under budget  Mt Colin mine production in line with plan. Third-party ore processing behind schedule leading to lower than planned metal produced – cash flow impacts mitigated by part payment for stockpiles  Jaguar on care and maintenance – restart studies underway  Stockman feasibility update released – focus on revised processing flowsheet  Updated Mineral Resource estimate for Avoca Tank deposit (Tritton) increasing copper grade by 35% and contained copper metal by 16%  Successful $30 million equity raise to provide general working capital and strengthen the balance sheet  Maintaining FY24 guidance Unit Sep 23 Qtr Dec 23 Qtr FY24 YTD FY24 Guidance /mmhrs 1.04 1.72 - - Copper produced kt 8.1 6.4 14.5 28 - 35 Zinc produced kt 3.1 - 3.1 1.2 - 1.5 Gold produced koz 15.2 13.2 28.4 48 - 60 Silver produced koz 121.3 39.2 160.5 181 - 227 Cu eq production kt 12.9 9.7 22.6 40 - 50 Mining A$M 60.1 48.7 108.8 202 - 243 Processing A$M 28.9 18.2 47.1 84 - 101 Site & G&A A$M 12.9 10.4 23.3 43 - 52 TC/RCs A$M 11.4 3.7 15.1 28 - 34 Product handling A$M 7.3 5.2 12.4 24 - 29 A$M 21.8 16.3 38.2 76 - 91 Growth A$M 10.1 9.5 19.6 34 - 41 Exploration A$M 2.6 1.7 4.3 12 - 15 Projects inc. Stockman A$M 1.1 0.6 1.7 2-3 AISC A$M 154.4 115.4 269.8 - AISC $/lb Cu eq 5.44 5.40 5.42 - LTIFR Operating Costs Capital Costs Sustaining Aeris Resources Limited 1 Group Safety, Environment and Community Aeris recorded two lost time injuries during the December quarter, bringing the 12month rolling LTIFR to1.72. Both injuries were muscle strains related to lifting loads. There was one Reportable Environmental Incident recorded in the December quarter due to the water level in a sediment dam at Mt Colin not meeting the design storage allowance. Note that a restricted work injury at Tritton in February 2023 has been reclassified to a Lost Time Injury and is now captured in the group statistics. Figure 1: Group LTIFR 3 No of LTI LTIFR 2 1 0 2 Tritton Operations (NSW) Key points for quarter:  Copper, gold and silver production below plan for the quarter due to skilled labour and mining equipment availability and delayed ramp up of production from the Avoca Tank mine  Operating costs under control  Total copper production of 4.8kt at improved AISC of A$5.37/lb  Updated Mineral Resource for Avoca Tank increasing copper grade by 35% and contained copper metal by 16% Sep 23 Dec 23 FY24 Qtr Qtr YTD kt 301.2 319.5 620.7 % Cu 1.59 1.57 1.58 Ore Milled kt 332.1 315.6 647.7 Milled Grade % Cu 1.63 1.60 1.62 Recovery Cu 95.3% 95.2% 95.3% Copper Produced kt 5.2 4.8 10.0 19 – 24 Gold Produced koz 1.0 1.2 2.3 6–7 Silver Produced koz 36.9 39.2 76.1 148 – 185 Mining A$M 25.3 25.1 50.4 113 – 136 Processing A$M 8.7 6.8 15.5 31 – 37 Site G&A A$M 5.1 3.9 9.0 22 – 27 TC/RCs A$M 5.4 4.6 10.0 19 – 23 Product Handling A$M 3.3 3.8 7.1 16 – 20 By-Product Credit A$M (4.1) (4.6) (8.7) Royalties A$M 1.6 1.6 3.2 Corporate G&A A$M 0.5 0.5 1.1 Inventory Movements A$M 1.7 1.8 3.4 Sustaining Capital1 A$M 17.2 13.5 30.7 A$M 64.7 57.0 121.7 A$/lb 5.68 5.37 5.53 Growth Capital A$M 3.0 1.3 4.3 10 – 12 Exploration A$M 0.6 0.7 1.3 7–9 A$M 68.3 59.0 127.2 A$/lb 5.99 5.55 5.78 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. All-In Sustaining and All-In Costs are based on copper produced 3 Operations While higher quarter on quarter, mining equipment availability and skilled manning constraints impacted ore production compared to plan, particularly at Murrawombie and Avoca Tank. Labour availability impacted by unplanned absenteeism (covid related in part) and skilled manning levels below plan. These challenges are being addressed through recruitment activities and the rental of additional equipment. The ramp up of production from the Avoca Tank mine has been slowed due to increased grade control drilling required in the early stages of the mine life. The Avoca Tank Mineral Resource is high grade but with complex shapes and requires good geological information before stope design. Drilling and data collection requirements will reduce with improved ore body knowledge over time. Mining operations are forecast to improve in the second half of FY24, with significantly higher contributions from the high-grade Avoca Tank and Budgerygar mines. Tonnes milled were in line with volumes mined and metallurgical recoveries remained strong. Optimisation of the Jameson cell continued with concentrate grades up by 2% since commissioning. Costs All-in sustaining costs were lower quarter on quarter and lower than plan, partly due to unplanned lower manning levels. Lower growth capital spend, mostly related to feasibility studies on Constellation, was incurred during the quarter. Exploration Avoca Tank During the quarter, an updated Mineral Resource estimate (MRE) was released for the Avoca Tank deposit. The updated MRE resulted in a 35% increase in copper grade and 16% increase in contained copper metal. High-grade copper is associated with massive sulphide lenses, of which eight have been modelled and incorporated into the MRE figures. The MRE is shown in Table 1 below. Table 1: October 2023 Avoca Tank Mineral Resource12345 Tonnage (kt) Cu (%) Au (g/t) Ag (g/t) Cu metal (kt) Au metal (koz) Ag metal (koz) - - - - - - - 420 3.3 1.0 16 14 13 211 Inferred 300 3.5 1.2 17 11 11 171 Total 720 3.4 1.1 17 24 24 382 Resource Category Cut-off grade (Cu%) Measured Indicated 0.6 1 Refer to ASX announcement “Avoca Tank Mineral Resource Update” dated 25th October 2023 2 Angela Dimond MAusIMM takes Competent Person responsibility for this Mineral Resource Estimate in accordance with the JORC Code (2012). 3 The underground cut-off of 0.6% Cu is currently used for life-of-mine planning at most deposits at the Tritton Operation. 4 The Competent Person considers that the Mineral Resource has reasonable prospects for eventual economic extraction at the reported cut-off grade. 5 Numbers may not sum due to rounding. 4 The October 2023 MRE is based on 158 diamond drill holes for 28,890m of which 64 (11,480m) have been completed since the reporting of the previous MRE in 2013. The MRE has been classified as Indicated and Inferred. The resource classification was developed in accordance with the JORC Code (2012) Definitions. Criteria considered to classify the MRE included drill spacing, confidence in the interpretation in 3D, the quality of the resulting grade estimate and the quality of the input data. The resulting Indicated category has approximately less than 20 m × 20 m drill spacing, while the Inferred category has approximately between 20m × 20m and 40m × 40m drill spacing. No Measured material has been classified at this stage. Figure 2: Cross section view (A) and long section view (B) showing the Avoca Tank MRE by resource classification looking northwest and southwest respectively (green – Indicated, blue – Inferred)1 The Avoca Tank mineralised system remains open down-plunge. Mineralisation has been traced 340m down-plunge, and there remains significant potential to increase the MRE with further drilling. Underground diamond drilling will continue at Avoca Tank, initially focused on further grade control drilling to de-risk upcoming mining fronts. Resource extension drilling will commence toward the end of FY24 targeting mineralisation below the base of the current MRE. Constellation During the quarter, the current drill program at the Constellation deposit was completed with assays from the final three drill holes received. The six diamond drill hole program targeted the deeper primary sulphide portion of the deposit below the current MRE. Five of the six holes intersected copper mineralisation, successfully extending the known sulphide mineralisation 100m along strike and 200m down-plunge of the current MRE. 1 Refer to ASX announcement “Constellation Drilling Update” dated 7th November 2023 5 Drilling was completed to a nominal 80m x 80m drill spacing. Work is commencing to convert the mineralisation identified in the drill program into Inferred Mineral Resource category. Drilling activities will recommence in early 2024 targeting improved resource confidence in the upper portion of the deposit. Figure 3: Long section view of Constellation showing drill hole pierce points (holes from the current program are labelled) 6 Cracow Operations (QLD) Key points for quarter:  Gold production of 11.1koz at AISC of A$2,407/oz, in line with plan  Operating and capital costs on track  Tailings dam lift completed in January, ahead of schedule and under budget, extending the life of the operation Sep 23 Dec 23 FY24 Qtr Qtr YTD kt 115.6 106.1 221.5 Mined Grade g/t 3.29 3.28 3.29 Ore Milled kt 149.4 135.0 284.6 Milled Grade g/t 2.84 2.80 2.82 Recovery Au 93.3% 91.9% 92.6% Gold Produced koz 12.7 11.1 23.9 Gold Sold koz 12.8 11.4 24.2 Mining A$M 15.0 13.0 28.0 50 - 60 Processing A$M 6.4 5.9 12.3 26 - 31 Site G&A A$M 2.7 3.0 5.7 12 - 15 By-Product Credit A$M (0.3) (0.3) (0.5) Royalties A$M 2.1 2.0 4.1 Corporate G&A A$M 0.4 0.4 0.8 Inventory Movements A$M 2.4 0.7 3.0 Sustaining Capital1 A$M 2.0 2.8 4.8 A$M 30.7 27.5 58.2 A$/oz 2,398 2,407 2,402 Growth Capital A$M 7.1 8.2 15.3 23 - 28 Exploration A$M 1.1 0.7 1.8 4-5 A$M 38.9 36.4 75.3 A$/oz 3,038 3,191 3,110 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. Mined grade was slightly below schedule due to challenging ground conditions in high grade areas. Metallurgical recovery and gold production was also to plan. In early January, the tailings storage facility (TSF) upgrade was completed ahead of schedule and under budget, adding 1 million cubic metres of capacity to extend the mine life. 7 Figure 4: Completed TSF Costs Operating costs for the quarter were in line with plan. Sustaining capital was kept to a minimum during the quarter to focus on the TSF construction project (growth capital). Sustaining capital is expected to increase from current levels in Q3 and Q4. Exploration During the quarter assay results were received from the underground exploration drilling completed in the prior quarter at the Western Vein Field. Five priority near-mine exploration targets were selected for drill testing based on a systematic and ongoing review of historical drilling and geophysical data collected across the Western Vein Field. Significant drill hole intersections include:  KLU279 0.8m1 @ 4.12g/t Au (Killarney Deeps structure)  IMU148 1.7m1 @ 2.75g/t Au (Coronation West structure)  RPU163 0.4m1 @ 8.42g/t Au (Emu structure)  RPU164 0.4m1 @ 1.27g/t Au (Emu structure)  BZU183 0.4m1 @ 3.04g/t Au (Bazsickle structure) The drill results exceeded expectations. Intersecting anomalous, and in several cases high-grade, gold mineralisation from early-stage exploration drill programs is a great outcome. Follow-up drilling is planned for the current quarter. 1 True thickness estimate 8 Figure 5: Plan view of the Cracow Western Vein Field showing the near-mine exploration drill targets tested in FY24 Q1 9 North Queensland Operations (QLD) Key points for quarter:  Mining operations at Mt Colin ahead of plan due to strong performance from the “cave” zone material  Only one of the two processing runs originally scheduled was completed resulting in copper production significantly below plan at 1.6kt at AISC of $5.38/lb  Ore stockpiles (at the mine site and the processing facility) of 133kt at quarter end yet to be processed  To assist with working capital management the company has agreed with Glencore to undertake monthly part payment for ore stockpiles, in between processing runs Production Summary Unit Sep 23 Dec 23 FY24 Qtr Qtr YTD FY24 Guidance Ore Mined kt 106.9 124.3 231.2 Mined Grade % Cu 2.01 2.26 2.14 Ore Milled kt 127.4 81.0 208.4 Milled Grade % Cu 1.96 2.52 2.18 Recovery Cu 95.2% 77.0% 87.0% Copper Produced kt 2.4 1.6 3.9 8 - 10 Gold Produced koz 1.1 0.8 1.9 4-5 Mining A$M 10.9 9.2 20.1 34 - 41 Processing A$M 5.9 5.8 11.7 25 - 30 Site G&A A$M 1.7 1.1 2.8 7-8 TC/RCs A$M 1.8 1.2 3.0 7-9 Product Handling A$M 1.9 1.2 3.2 7-9 By-Product Credit A$M (1.3) (5.9) (7.2) Royalties A$M 1.3 0.9 2.3 Corporate G&A A$M 0.3 0.3 0.6 Inventory Movements A$M (3.4) 4.7 1.3 Sustaining Capital1 A$M (0.1) 0.0 (0.1) A$M 19.0 18.6 37.8 A$/lb 3.66 5.38 4.35 A$M 0.5 0.2 0.7 A$M 19.5 18.8 38.5 A$/lb 3.75 5.44 4.42 Cost Summary All-In Sustaining Costs2 Exploration All-In Costs2 0 0 1. Includes sustaining capital, capitalised mine development and financing payments (principal and 2. interest) on leased assets All-In Sustaining and All-In Costs are based on copper produced 10 Operations Ore mining at Mt Colin was 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. Ore milled was well below plan with only a single processing run of 81kt completed (in November) against the two runs originally forecast. Metallurgical recovery was impacted by higher levels of transitional material from the cave being processed although procedures have been implemented to improve recoveries in future processing runs. As a result, copper production of only 1.6kt was achieved in the December quarter. At the end of the quarter, stockpiles of 133kt at the mine site and the mill were on hand available for processing. Provisional payment on 84kt of these stocks was received through an ore sale agreement with Glencore with final payment to be received following processing. Costs Operating costs for the quarter were in line with plan. Processing costs were lower quarter on quarter based on reduced tonnes milled although this was offset by increased ore crushing and haulage volumes. Exploration No material exploration activities were undertaken in North Queensland during the quarter. 11 Jaguar Operations (WA) Key points for quarter:  Operation now on care and maintenance  Pre-feasibility work on restart options underway  Exploration activities focused on gold prospectivity of tenement package Sep 23 Dec 23 FY24 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 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 - 10.3 7.6 5.8 2.1 2.1 (11.2) 1.0 0.0 4.2 2.7 A$M 21.6 2.9 24.5 A$/lb 3.17 - 3.59 A$M A$M 0.0 0.5 0.1 0.0 0.6 A$M 22.1 3.0 25.0 A$/lb 3.24 - 3.68 Production Summary Unit Ore Mined Mined Grade Ore Milled Milled Grade Recovery Zinc Produced Copper Produced Gold Produced Silver Produced Cost Summary Mining Processing Site G&A TC/RCs Product Handling By-Product Credit Royalties Corporate G&A Inventory Movements Sustaining Capital1 All-In Sustaining Costs2 Growth Capital Exploration All-In Costs2 1. 2. 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 Care and Maintenance Final ore processing was completed in September for Jaguar with the site transitioned into care and maintenance. A team of 8 people are on site to manage ongoing activities including mine dewatering at Bentley and Jaguar. 12 Pre-Feasibility Study (PFS) Aeris has commenced PFS work on options to restart Jaguar Operations, focusing on increasing ore production rates, maximising mill throughput, improving metal recovery and enhancing product quality. Considerable work on various options for improving the ore processing performance was completed by previous owners. Aeris will leverage this existing knowledge to move rapidly to feasibility study for the project restart. The tenement package remains highly prospective for base metals and gold with numerous targets identified. An exploration project plan is being prepared to test the attractive gold targets and later the base metals targets. Stockman Project (VIC) Key points for quarter: Feasibility study and permitting activities continued during the quarter. Post-quarter end, Aeris released updates on the Project. New Mineral Resource estimates for the main Currawong and Wilga deposits were released, increasing total tonnes by 7% and total contained copper by 6%1. The Project tenements also include the Bigfoot and Eureka deposits and remain highly prospective for further discoveries, with over 50 drill targets already identified. The feasibility study is well advanced with a mine plan involving +12 years of ore production from just the Currawong deposit at 850ktpa rate2. This simplified plan reduces operational risk and reduces upfront capital costs. All primary approvals for mining and onsite processing are in place and the project has strong community support. The complex metallurgy of the Stockman deposits, however, impacts metal recoveries and processing costs. To address these issues, the Aeris technical teams have identified an alternative processing flowsheet utilising ultrafine grinding and the Albion Process3 oxidative leaching to potentially provide a step change in recoveries and project economics. The revised processing strategy will incorporate onsite production of a clean copper concentrate for sale and a bulk Cu/Zn/Au/Ag concentrate for further processing. The bulk concentrate is to be trucked to a regional offsite location with access to lower cost power for further treatment into saleable copper, zinc and precious metal products. The next stage of the feasibility work involves further metallurgical test work and engineering design to support the new processing flowsheet. Completion of the feasibility study is expected in the second half of 2024. 1 Refer to ASX announcement “Stockman Project – Currawong and Wilga Deposits Mineral Resource Update” dated 17 January 2024 2 Refer to ASX announcement “Stockman Feasibility Study Update” dated 24 January 2024 for more information and for the material assumptions underpinning the production target. 3 The Albion Process is owned by Glencore Technology 13 Corporate In November 2023, Aeris undertook a $30 million fully underwritten equity raise, comprising a $13.9 million institutional placement and a $16.2 million accelerated non-renounceable entitlement offer. Net proceeds from the equity raise were used to provide general working capital and increased financial flexibility. The equity raise was supported by Aeris’ major shareholder Washington H Soul Pattinson (WHSP), which subscribed for its full entitlement under the offer and provided sub-underwriting up to an aggregate amount of $12.3 million. The offer successfully completed in mid-December. During the quarter, Sylvia Wiggins, non-executive director of Aeris, resigned effective 31 December 2023 for personal reasons. Cash and Receivables At the end of the quarter, Aeris increased useable cash and receivables to $44.7 million with a closing cash balance of $22.7 million. Cash flow from operations was impacted by additional payments made during the quarter to reduce the balance of trade creditors. (A$ Million) Sep 2023 Qtr Dec 2023 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 Useable Cash and Receivables 43.4 44.7 Sep Dec 2023 2023 Qtr Qtr Opening cash Cash flow from operations Cash flow from capital expenditure 19.5 0.1 (32.0) 21.9 (0.3) (26.1) Cash flow from financing 34.3 27.1 Closing cash 21.9 22.7 (A$ Million) (Unaudited) Since the beginning of the financial year Aeris has worked hard to reduce its creditor position. The equity raise of $30 million in December 2023 has enabled the Company to significantly reduce this balance. The Trade Payable and Other Creditors balance has reduced by $33.5 million since 30 June 2023 to $87.3 million. 14 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. 15 Competent Persons Statement – Cracow Operation Exploration Results The information in this report that relates to Exploration Targets or Exploration Results 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. Competent Persons Statement – Tritton Operation Exploration Results The information in this report that relates to Exploration Targets or Exploration Results is based on information compiled by Chris Raymond. Mr Raymond 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 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. Competent Persons Statement – Avoca Tank Mineral Resource Information in this announcement pertaining to Estimation and Reporting of Mineral Resources, has been reviewed and approved by Dr Andrew Fowler is a Chartered Professional in the Geology discipline and Member of the Australasian Institute of Mining and Metallurgy (MAusIMM No. 301401), who has 19 years relevant industry experience. Dr Fowler is a full-time employee of the Company but otherwise, has no financial interest in the Company, its related entities or joint venture partners. Dr Fowler has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he is undertaking to qualify as a Competent Person as defined by the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the JORC Code). Dr Fowler consents to the inclusion in this announcement of the matters based on this information in the form and context in which it appears. Dr Fowler confirms that the Company is not aware of any new information or data that materially affects the information included in the relevant market announcements, and that the form and context in which the information has been presented has not been materially modified. 16 APPENDIX A: Summary of Western Vein Field near-mine exploration drill holes Hole ID Easting1 (m) Northing1 (m) RL (m) Total Depth (m) Azimuth 1 Dip Comments IMU145 224156.7 7201264.0 -254 12 229.6 -51.5 Abandoned IMU146 224156.8 7201265.0 -253 98.5 228.6 -49 Abandoned IMU147 224156.9 7201264.0 -254 95 229.6 -49 Abandoned IMU148 224156.0 7201265.7 -253.4 723 270.3 -47.9 BZU183 224517.4 7200796.1 -211.4 285 150.9 -2 BZU184 224516.0 7200796.0 -211.7 336 189.0 -13.5 KKU719 224070.5 7200732.9 -518.8 275 225.3 -25 KLU278 223802.1 7199903.5 -437.6 285 293.3 -69.5 KLU279 223829.6 7199972.9 -369.8 345 306.1 -63 KLU280 223830.4 7199974.4 -369.7 408 343.6 -50.9 RPU163 224348.0 7202520.1 149.9 294 64.5 23.3 RPU164 224347.8 7202516.1 149.8 320 137.3 21.4 1 Easting and northing coordinates and bearings are reported in MGA94 2 All down hole surveys are reported in MGA94 grid. APPENDIX B: Summary of Western Vein Field near-mine exploration drill intercepts Hole ID From (m) To (m) Interval (m) Est. true Width (m) Domain2 Au g/t 1 Ag g/t1 IMU148 77.30 86.00 8.70 4.4 ST 2.58 1.59 IMU148 298.00 300.50 2.50 1.7 CW 2.75 0.80 BZU183 189.94 190.44 0.50 0.4 BZ 3.04 9.00 BZU183 190.44 190.85 0.41 0.3 BZ 1.17 9.00 KKU719 27.70 29.70 2.00 1.2 KK 3.15 1.50 KKU719 38.50 40.30 1.80 1.0 KK 0.75 1.22 KKU719 42.00 44.10 2.10 1.3 KK 5.70 2.47 KLU278 62.00 63.35 1.35 0.5 KL 1.01 1.00 KLU278 86.50 88.00 1.50 0.7 KL 2.48 1.66 KLU278 187.00 188.00 1.00 0.3 KL 5.10 2.00 KLU278 237.00 239.00 2.00 0.7 KD 1.48 1.00 KLU279 51.30 52.30 1.00 0.5 KL 1.31 0.50 KLU279 295.55 296.35 0.80 0.4 KD 1.12 0.50 KLU279 312.20 314.00 1.80 0.8 KD 4.12 3.16 KLU280 8.60 12.00 3.40 1.8 KL 1.51 8.29 KLU280 44.50 46.20 1.70 1.0 KL 2.24 2.76 RPU163 219.10 219.50 0.40 0.4 EM 8.42 2.00 RPU164 100.25 100.70 0.45 0.4 EM 1.27 1.00 Comment 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) 2 KD Killarney Deeps, CW Coronation West, EM Emu, BZ Bazsickle, KK Kilkenny lode, KL Killarney lode, ST Sterling lode 17 APPENDIX C JORC Code, 2012 Edition – Western Vein Field Near Mine Exploration Drill Program Table 1 Section 1 - Sampling Techniques and Data Criteria Commentary Sampling techniques Drilling 1. All samples have been collected via diamond drilling. 2. A majority of the samples are collected at 1 metre intervals. A majority of samples are full core samples. For wider spaced drill holes half core samples are taken. 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 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 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. Drill sample recovery 1. Core recoveries are recorded by the drillers on site at the drill rig. Core recoveries are checked and verified by an Aeris Resources fi