29 Oct 2021

Quarterly Activities Report

ASX Announcement 29 October 2021 Emmerson Resources Limited ABN 53 117 086 745 t: +61 8 9381 7838 | e: corporate@emmersonresources.com.au | w: www.emmersonresources.com.au 3 Kimberley St, West Leederville 6007 WA QUARTERLY ACTIVITIES REPORT for the Period Ending 30 September 2021 Highlights • Emmerson announce extension of diamond drill hole MTDD010 at Mauretania which returns the first bonanza gold intercept in the sparsely drilled primary gold zone of: o 3.95m at 57g/t gold, 0.22% bismuth, 20.6g/t silver and 0.23% copper from 207m including: ? 1m at 102 g/t gold, 47g/t silver and 0.6% bismuth, and ? 0.8m at 135.5 g/t gold, 40.2 g/t silver and 0.34% bismuth • Further extensional drilling and geotechnical drill holes in the oxide zone at Mauretania return assays of: o 25m at 2.57g/t gold and 0.24% copper from 93m (drill hole MTRC039) including: ? 3m at 6.0 g/t gold and 3m at 5.2 g/t gold and 0.51 % copper o 30m at 0.44% copper and 0.30g/t gold from 57m (MTRC043) o 45m at 0.39% copper from 84m incl 3m at 1.6% copper (MTRC041) • Tennant Creek central processing plant advances: Joint Venture partner TCMG has purchased a 700ktpa carbon-in-leach (CIL) plant that will be transported and assembled in Tennant Creek estimated for the first half of 2022 • The 10,000km 2 Ultra High-Resolution drone magnetic survey at Tennant Creek is now 70% complete, with highly successful “proof of concept” orientation flights over Mauretania • Advanced scoping studies to include JORC resource estimates underway on Mauretania, Chariot, and Black Snake – providing early feed for the TCMG mill • Visible copper intersected in drilling at Emmerson’s 100% owned Hermitage project (post end quarter) • New 3D MIMDAS geophysical model for Kiola in NSW reveals exciting new copper-gold targets that are planned to be tested in late 2021/early 2022 (subject to the constraints around COVID) • Emmerson is in a strong financial position with approximately $4.5m cash as at 30 September 2021 to support 100%-owned exploration activities in Tennant Creek and NSW EMMERSON RESOURCES LIMITED Page 2 of 17 Bonanza gold intercept from first diamond drill hole at Mauretania, Tennant Creek (ASX 5 July 2021) Mauretania is located within the Northern Project Area (NPA) of the Tennant Creek Mineral Field (TCMF) (Figure 1), where historically drilling has been focussed on the shallow oxide mineralisation (figure 2). Diamond drill hole MTDD010 was prematurely terminated last year at 106m due to the impending wet season. This drill hole has now been completed and is one of three that have intersected the primary gold zone (figure 3), returning assays of: • 3.95m at 57g/t gold, 0.22% bismuth, 20.6g/t silver and 0.23% copper from 207m including: o 1m at 102 g/t gold, 47g/t silver and 0.6% bismuth, and o 0.8m at 135.5 g/t gold, 40.2 g/t silver and 0.34% bismuth This primary gold mineralisation occurs approximately 100m below the conceptual pit floor, but within the footwall of a massive hematite +/- magnetite ironstone. With the gold occurring in late stringers associated with hematite, on the footwall of a 7m wide zone of brecciation and intense chlorite alteration (Figure 4). The association of gold with hematite that postdate the early magnetite ironstones underpins our exploration model and has been the hallmark of other Emmerson discoveries at Goanna, Monitor and Edna Beryl. New Mauretania assay results from drilling focused on testing for extensions to the shallow gold oxide zone outside of the conceptual open pit boundary include (ASX 27 August 2021): • 25m at 2.57g/t gold and 0.24% copper from 93m (drill hole MTRC039) including: o 3m at 6.0 g/t gold and 3m at 5.2 g/t gold and 0.51 % copper • 30m at 0.44% copper and 0.30g/t gold from 57m (MTRC043) • 45m at 0.39% copper from 84m incl 3m at 1.6% copper (MTRC041) Three geotechnical drill holes were also completed, with one intersecting ironstone with results of: • 3.6m at 1.14g/t gold from 43.5m (DDHGT-02) Mauretania exploration advances (ASX 27 August 2021) The new ultra-high resolution (UHR) drone magnetic survey identifies further extensions to the ironstones that host high- grade gold and copper. The 10,000km 2 UHR drone magnetic survey is now 70% complete, with highly successful “proof of concept” orientation survey delineating the Mauretania mineralisation. Subject to further geophysical modelling, this detailed survey may have defined additional ironstones to the northeast of the known mineralisation (Figure 5). Mauretania is a greenfields discovery that recognised the association between high-grade gold, copper and hematite ironstones that had largely gone undetected prior to Emmerson’s entry to the Tennant Creek Mineral Field in 2008. The hallmark of the Company’s discoveries at Edna Beryl, Goanna, Monitor and now Mauretania include the exceptional grade of both copper and gold and their association with hematite dominant ironstones. Tennant Creek central processing plant advances (ASX 27 August 2021) Joint Venture partner TCMG has purchased a 700ktpa carbon-in-leach (CIL) plant that will be dismantled, transported and then reassembled in Tennant Creek TCMG’s purchase also includes a recently overhauled crushing and grinding circuit plus a Nelson Gravity Concentrator. This purchase will accelerate the establishment of a central milling facility in Tennant Creek – unlocking multiple stranded gold assets in the region and when in production, Emmerson’s free carried 6% gold production royalty The time frame to production remains contingent on permitting, stakeholder engagement and establishment of infrastructure such as power and water at TCMG’s preferred, Nobles Nob gold tailings project (Figure 1). TENNANT CREEK: building a pipeline of high-impact exploration and mining projects with Strategic Alliance funding to generate future low risk, royalty streams EMMERSON RESOURCES LIMITED Page 3 of 17 Ahead of this and as part of our Small Mines Joint Venture, TCMG are fully funding advanced mining studies at Mauretania, Chariot and Black Snake. Hermitage Project – visible copper intersected (post end quarter) (ASX 26 October 2021) Hermitage is one of a cluster of prospects that occurs within the northern corridor at Tennant Creek. These prospects of North Star, Jasper Hills, Katherine Star and Northern Star in mining lease (ML) 30177 and, Edna Beryl, Thrace and Macedon in ML 705 are 100% Emmerson owned tenements (Figure 6). These prospects occur along the northern gravity corridor, within denser, haematitic shales, jasper, and ironstones - the typical host to the mineralisation. Not only has this area seen little modern exploration but some of the areas have restricted access. Hermitage has not seen any systematic, modern exploration since the 1980s, with the first phase of this program aimed at establishing the thickness, plunge and potential for extensions to the historic mineralisation. Particularly the high-grade copper and gold mineralisation in drill holes HEGD12 of 9m at 12.8g/t gold from 176m and HEGD05 of 23m at 4.84g/t gold and 3.7% copper from 197m (Figures 7). Early indications from drill holes HERC002 and HERC003 suggest a zoned ironstone that occurs close to the surface and consists of hematite-jasper with local vugs, before grading down to hematite-quartz-jasper-magnetite, and finally magnetite- hematite-chlorite. Drill hole HERC003 intercepts ironstone from 45m to 190m and shows variable amounts of visible copper, with malachite (up to 2% volume) present in the upper portions, followed by native copper (up to 5% volume) before intersecting the primary copper sulphides (chalcopyrite up to 2% volume) at depth (Photos 1, 2 and 3). Visual estimates are approximate only and accurate values will be reported once assay results are returned from the laboratory. First assay results from Hermitage are expected late in the current December quarter. The true thickness of these various copper zones is unknown and will require further drilling to better understand the strike and plunge of the mineralisation. High impact copper-gold drilling from new 3D Model at Kiola, NSW (ASX 17 September 2021) In 2017 Emmerson and its strategic alliance partner, Kenex Limited (now Duke Exploration Limited), deployed machine learning data analytics technology across the Macquarie Arc to improve the success rate of discovery. This approach offered greater insight into the critical formational factors for porphyry gold-copper mineralisation in the Macquarie Arc and provided a ranked portfolio of potential opportunities. Consequently, Emmerson now has a strategic, early mover landholding position (figure 8). Since then, Emmerson has undertaken systematic exploration across its NSW projects utilising traditional exploration methods and new research from the University of Tasmania Arc Linkage project. Emmerson’s Kiola project is one of the highest ranked, early-stage gold-copper projects in the portfolio and is centred on the 15km 2 Kiola Geochemical Zone (KGZ). It encompasses favourable Ordovician age rocks that display anomalously high gold and copper geochemistry plus historic workings. Recent work has confirmed that the KGZ contains many of the attributes of world class porphyry gold-copper mineralisation and is divided into a northern area centred on the Nasdaq skarn and a southern area around the South Pole, Kiola and Right-Hand Creek mine (Figure 9). Emmerson’s multifaceted field program has included soil and rock chip geochemistry, with rock chip samples returning up to 19.6g/t gold and 2.16% copper (ASX: 12 March 2020). It has also utilised aspects of the ARC Linkage project such as “green rock alteration” and age dating to refine the subsurface 3D model and provide vectors to the core of the copper and gold mineralisation. This has provided the framework for linking the surface geology and mineralisation within the 15km 2 KGZ to a unifying model at depth. This large geophysical survey which also incorporates the reinterpretation of an existing VTEM survey (Versatile Time Domain Electromagnetic), was a significant investment which has produced some very exciting results. In that the copper and gold prospects at the surface are now interpretated as part of a much larger, potentially mineralised system that stretches over 5km from the Nasdaq skarn in the north to the Yards prospect in the south (Figure 10). NSW: hunting for large copper-gold porphyry deposits EMMERSON RESOURCES LIMITED Page 4 of 17 This first phase of drilling will consist of four holes for a minimum 2,500 metres and is aimed at testing a variety of targets, with a commencement date ideally later this year but subject to securing a drill rig within the constraints of the COVID requirements. This science based, systematic exploration underpins the first phase of drilling which has been lodged as part of a submission for 50% funding of the direct drilling costs to the NSW Government, New Frontiers Cooperative Drilling grant. A decision on whether this submission was successful will be known in the next few months. As announced to ASX on 9 November 2020, Emmerson terminated the previous Exploration Earn-in and Joint Venture Agreement (EEJV) over the Southern Project Area (SPA) with TRL Tennant Creek Pty Ltd (TRLTC), a subsidiary of Territory Resources. Emmerson was notified in early July 2021 that TRLTC has been placed into voluntary administration. Effective 7 October the creditors resolved that TRLTC be wound up and liquidators be appointed. Emmerson will monitor the progress of the Liquidation process as it unfolds over the coming months. Emmerson cash balance of $4.5m as at 30 September 2021*. (*Note unaudited) The Quarterly Cashflow Report (Appendix 5B) for the period ending 30 September 2021 was released to ASX the same day as this report and provides an overview of the Company’s financial activities. Significant items in the Appendix 5B include: • Exploration expenditure for the reporting period of $858,000 which was offset by reimbursement from Joint Venture Partners totally $250,000 • Corporate and other operating expenditure, net of other income, totalling $321,000 • Total amount paid to directors of the entity in the period (item 6.1 of the Appendix 5B) of $125,000 which includes salary, bonus, directors’ fees, consulting fees and superannuation Key Activities Expected in December Quarter • Completion of drilling at Emmerson’s 100% owned Hermitage and Edna Beryl projects • Completion of the Ultra High Resolution drone magnetic survey over the Southern Project Area at Tennant Creek • Possible commencement of drilling at Kiola – subject to securing a drilling contractor and within the constraints of the COVID protocols • Continuation of advanced mine studies, including reporting of JORC Resource estimates at Chariot, Mauretania, and Black Snake • Further baseline studies at Mauretania and Chariot including flora and fauna surveys • Assay results from Hermitage and Edna Beryl and review of future mining and processing at Edna Beryl CORPORATE: funding in place to support growth and future exploration programs EMMERSON RESOURCES LIMITED Page 5 of 17 Announcements 24 September 2021 Investor Update 23 September 2021 Appendix 4G 23 September 2021 Corporate Governance Statement 23 September 2021 Annual Report to Shareholders 17 September 2021 High Impact copper - gold drilling from new 3D model at Kiola 27 August 2021 Investor Update 27 August 2021 New drilling, drone survey results as mill locked in for TC 24 August 2021 Investor Update 20 July 2021 Change in Substantial Holding 15 July 2021 Quarterly Cashflow Report 15 July 2021 Quarterly Activities Report 6 July 2021 Investor Update 5 July 2021 Bonanza gold intercept at Mauretania, Tennant Creek For further information, please contact: Rob Bills Media enquiries Managing Director and CEO Michael Vaughan, Fivemark Partners E: rbills@emmersonresources.com.au E: michael.vaughan@fivemark.com.au T: +61 8 9381 7838 T: +61 422 602 720 This release has been authorised by the Board of Emmerson Resources Limited. EMMERSON RESOURCES LIMITED Page 6 of 17 About Emmerson Resources, Tennant Creek and New South Wales Emmerson has a commanding land position and is exploring the Tennant Creek Mineral Field (TCMF), one of Australia’s highest-grade gold and copper fields that has produced over 5.5Moz of gold and 470,000t of copper from deposits including Warrego, White Devil, Orlando, Gecko, Chariot, and Golden Forty. These high-grade deposits are highly valuable exploration targets, and to date, Emmerson’s discoveries include high-grade gold at Edna Beryl and Mauretania, plus copper-gold at Goanna and Monitor. These discoveries were found utilising new technology and concepts and are the first discoveries in the TCMF for over two decades. A recent rush of new tenement applications by major and junior explorers in the Tennant Creek district, not only highlights the prospectivity of the region for copper and gold but also Emmerson’s strategic 1,700km 2 land holding. In addition, Emmerson is exploring across four early-stage gold-copper projects in NSW, identified (with our strategic alliance partner Kenex/Duke Exploration) from the application of 2D and 3D predictive targeting models – aimed at increasing the probability of discovery. Duke can earn up to 10% (to pre BFS) of any project generated providing certain success milestones are met. The highly prospective Macquarie Arc in NSW hosts >80Moz gold and >13Mt copper with these resources heavily weighted to areas of outcrop or limited cover. Emmerson’s four exploration projects contain many attributes of the known deposits within the Macquarie Arc but remain underexplored due to historical impediments, including overlying cover (farmlands and younger rocks) and a lack of effective exploration. About Tennant Consolidated Mining Group (TCMG) TCMG is a subsidiary of TA Private Capital Security Agent Ltd and advised by TransAsia Private Capital (TA), a Hong Kong headquartered assets management firm, best known for its private debt solutions spanning trade finance through mid-tenor supply chain financing to mid to longer tenor term and project loans. TA has a diverse portfolio of capital deployed globally including within the Australian mining sector. TCMG’s focus is to rationalise assets in the Tennant Creek area, with the objective of undertaking detailed studies with the ultimate goal of developing a centralised processing facility commercialising known mill feed sources in and around Tennant Creek. Regulatory Information The Company does not suggest that economic mineralisation is contained in the untested areas, the information contained relating to historical drilling records have been compiled, reviewed, and verified as best as the Company was able. As outlined in this announcement the Company is planning further drilling programs to understand the geology, structure, and potential of the untested areas. The Company cautions investors against using this announcement solely as a basis for investment decisions without regard for this disclaimer. Competency Statement The information in this release is based on information compiled by Dr Ana Liza Cuison, MAIG, MSEG. Dr Cuison is a Member of the Australian Institute of Geoscientists and has sufficient experience which is relevant to the style of mineralisation and types of deposits under consideration and to the activity which she is undertaking to qualify as a Competent Person as defined in the 2004 edition and the 2012 edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Dr Cuison is a full-time employee of the Company and consents to the inclusion in this report of the matters based on her information in the form and context in which it appears. Forward-Looking Statements This document may include forward-looking statements. Forward-looking statements include, but are not limited to, statements concerning Emmerson Resources Limited’s planned exploration program and other statements that are not historical facts. When used in this document, the words such as "could," "plan," "expect," "intend," "may”, "potential," "should," and similar expressions are forward-looking statements. Although Emmerson believes that its expectations reflected in these forward- looking statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that further exploration will result in the estimation of a Mineral Resource. EMMERSON RESOURCES LIMITED Page 7 of 17 Figure 1: Map of the Emmerson Tennant Creek Project showing the Northern Project Area (NPA) and Southern Project Area (SPA), which is covered by the Exploration (EEJV) and Small Mines (SMJV). Yellow dots are potential small mines and/or remnant resources. Noting that Emmerson has retained 100% of the Jasper Hills and Edna Beryl projects. Note: quoted resources from historical deposits from Ahmad, M., Wygralak, A.S. and Ferenczi, P.A. (1999). Gold deposits of the Northern Territory 2 nd ed. Darwin: Northern Territory Geological Survey, p.60 Figure 2: Mauretania plan view showing previously announced drill results in the upper oxide zone – the subject of advanced mining studies funded 100% by our partner, TCMG EMMERSON RESOURCES LIMITED Page 8 of 17 Figure 3 . Mauretania plan view showing drill collars from the current program on a background of the magnetic geophysics (red = magnetic high that reflects residual magnetite within the ironstone). Note the blue shaded ironstone reflects the known extent of ironstone from previous drilling. The extent of the underlying ironstone associated with the primary gold zone will be the subject of future drilling. Figure 4: Cross section of Mauretania and drill hole MTDD010 – noting the metal zonation of copper peripheral/lateral to the oxide gold zone, and above the emerging bonanza primary gold zone. The primary gold zone is open in all directions, with the bonanza grades likely reflective of proximity to the structurally controlled feeder conduit. EMMERSON RESOURCES LIMITED Page 9 of 17 Figure 5: Plan view of Mauretania showing drill results from the latest program – now the subject of advanced mining studies funded 100% by our partner, TCMG. Note yellow background is the extent of the drone magnetic anomaly with untested portion to the northwest. Figure 6: Map of the northern corridor with gold, copper and cobalt projects. Background colour is the residual gravity map with white representing the northern gravity (high) ridge. Noting that ML 30177 (Jasper Hills, Hermitage, North and Northern Star) plus MLC 705 (Edna Beryl) are 100% owned by Emmerson. EMMERSON RESOURCES LIMITED Page 10 of 17 Figure 7 : Plan view of the planned (magenta) and completed (cyan) RC drill holes at Hermitage. Noting historic drill intersections (yellow call out boxes) and wireframe (blue) of the interpreted Hermitage ironstones. Photo 1: Native copper in RC drill hole HERC003 EMMERSON RESOURCES LIMITED Page 11 of 17 Photo 2: Reverse Circulation drill chips showing copper (malachite) in the oxide zone of drill hole HERC003. Photo 3: Reverse Circulation drill chips showing copper (chalcopyrite) in the deeper primary of drill hole HERC003. EMMERSON RESOURCES LIMITED Page 12 of 17 Figure 8: Location of Emmerson’s NSW Projects (Lachlan Resources). The background is from the regional magnetic image representing the Molong and Junee-Narromine Volcanic Belts of the Macquarie Arc. EMMERSON RESOURCES LIMITED Page 13 of 17 Figure 9: Plan view of the Kiola Geochemical Zone (KGZ) showing historic drill results at the Nasdaq skarn, and the southern South Pole, Kiola, Right Hand Creek Mine (ASX 27 August 2020). Note the background image is the Reduced to Pole Magnetics, with blue colour outlining interpreted Ordovician age intrusions. EMMERSON RESOURCES LIMITED Page 14 of 17 Figure 10: 3D and 2D MIMDAS Geophysical Model and inversions stretching over 5km from the mineralised Nasdaq skarn in the north to the Yards prospect located under cover in the south. Proposed Emmerson drill hole traces (KProp1 to KProp4). Noting the red zones indicate a mantle of chargeable and conductive bodies centered on the Dolly’s North magnetic, monzodiorite body (brown). EMMERSON RESOURCES LIMITED Page 15 of 17 Mining Tenements Held at 30 September 2021 (Northern Territory, Australia) Tenement Name Interests Tenement Name Interests Tenement Name Interests EL10114 McDougall 100 MCC316 The Trump 100 MLC132 Golden Forty 100 EL10124 Speedway 100 MCC317 The Trump 100 MLC133 Golden Forty 100 EL10313 Kodiak 100 MCC334 Estralita Group 100 MLC134 Golden Forty 100 EL10406 Montana 100 MCC340 The Trump 100 MLC135 Golden Forty 100 EL23285 Corridor 2 100 MCC341 The Trump 100 MLC136 Golden Forty 100 EL23286 Corridor 3 100 MCC344 Mt Samuel 100 MLC137 Golden Forty 100 EL23905 Jackie 100 MCC364 Estralita 100 MLC138 Golden Forty 100 EL26594 Bills 100 MCC365 Estralita 100 MLC139 Golden Forty 100 EL26787 Rising Ridge 100 MCC366 Estralita 100 MLC140 Golden Forty 100 EL27011 Snappy Gum 100 MCC524 Estralita 100 MLC141 Golden Forty 100 EL27408 Grizzly 100 MCC55 Mondeuse 100 MLC142 Golden Forty 100 EL27537 Chappell 100 MCC56 Shiraz 100 MLC143 Golden Forty 100 EL27538 Mercury 100 MCC57 Mondeuse 100 MLC144 Golden Forty 100 ELA27539 Telegraph 100 MCC66 Golden Forty 100 MLC146 Golden Forty 100 ELA27902 Lynx 100 MCC67 Golden Forty 100 MLC147 Golden Forty 100 EL28601 Malbec 100 MCC9 Eldorado 100 MLC148 Golden Forty 100 EL28602 Red Bluff 100 MCC925 Brolga 100 MLC149 Golden Forty 100 EL28603 White Devil 100 MCC926 Brolga 100 MLC15 Eldorado 4 100 EL28618 Comstock 100 ML22284 Billy Boy 100 MLC16 Eldorado 5 100 EL28760 Delta 100 ML23216 Chariot 100 MLC17 EL28761 Quartz Hill 100 MLA29527 Wiso 100 MLC176 Chariot 100 EL28775 Trinity 100 MLA29528 Wiso 100 MLC177 Chariot 100 EL28776 Whippet 100 MLA29529 Wiso 100 MLC18 West Gibbet 100 ELA30123 Mosquito Creek 100 MLA29530 Wiso 100 MLC182 Riesling 100 EL30167 Dolomite 100 MLA29532 Wiso 100 MLC183 Riesling 100 EL30505 Golden East 100 ML30096 Malbec 100 MLC184 Riesling 100 EL30584 Juno North 100 ML30177 North Star 100 MLC253 Mulga 1 100 ELA30746 Mule 100 ML30322 Verdot 100 MLC254 Mulga 1 100 ELA30747 Power of Wealth 100 ML30620 Kia Ora 100 MLC255 Mulga 1 100 EL30748 Battery Hill 100 ML30623 Pinnacles South 100 MLC256 Mulga 2 100 ELA30749 Mary Anne 100 ML30716 Comstock 100 MLC257 Mulga 2 100 ELA31355 Mt Samuel 100 ML30742 Black Cat 100 MLC258 Mulga 2 100 EL31832 Russell 100 ML30743 True Blue 100 MLC259 Mulga 2 100 EL31833 Prosperity 100 ML30870 Rising Star 100 MLC260 Mulga 2 100 EL31834 Colombard 100 ML30872 The Extension 100 MLC261 Mulga 2 100 EL31835 Bishops Creek 100 ML30893 Troy 100 MLC32 Golden Forty 100 EL31919 Billy Boy 100 ML30909 Archmedes 100 MLC342 Tinto 100 EL32030 Grey Bluff East 100 ML30911 Wolseley 100 MLC343 Rocky Range 100 EL32213 Golden Slipper 100 ML30912 Ivanhoe 100 MLC344 Rocky Range 100 EL9403 Jess 100 ML30938 EXP195 100 MLC345 Rocky Range 100 EL9958 Running Bear 100 ML30945 Metallic Hill 100 MLC346 Rocky Range 100 MA23236 Udall Road 100 ML31074 Rocky Range 100 MLC347 Golden Forty 100 MA30798 Little Ben 100 ML31123 Gibbet 1 100 MLC348 Brolga 100 MCC203 Galway 100 ML31651 White Devil 100 MLC349 Brolga 100 MCC211 Shamrock 100 ML32214 Mauretania 100 MLC35 Golden Forty 100 MCC212 Mt Samuel 85 MLC127 Peko East Ext 4 100 MLC350 Brolga 100 MCC239 West Peko 100 MLC129 Peko Sth - East 100 MLC351 Brolga 100 MCC240 West Peko 100 MLC130 Golden Forty 100 MLC352 Golden Forty 100 MCC308 Mt Samuel 85 MLC131 Golden Forty 100 MLC353 Golden Forty 100 MLC354 Golden Forty 100 MLC51 Eldorado Anom 100 MLC615 Lone Star 100 MLC355 Golden Forty 100 MLC518 Ellen, Eldorado 100 MLC616 Lone Star 100 EMMERSON RESOURCES LIMITED Page 16 of 17 Tenement Name Interests Tenement Name Interests Tenement Name Interests MLC36 Golden Forty 100 MLC520 Great Northern 100 MLC617 Mt Samuel 50 MLC362 Lone Star 100 MLC522 Aga Khan 100 MLC619 Ture Blue 85 MLC363 Lone Star 100 MLC523 Eldorado 100 MLC644 Enterprise 100 MLC364 Lone Star 100 MLC524 Susan 100 MLC645 Estralita 100 MLC365 Lone Star 100 MLC527 Mt Samuel 100 MLC654 TC8 Lease 100 MLC366 Lone Star 100 MLC528 Dingo, Eldorado 100 MLC66 Traminer 100 MLC367 Lone Star 100 MLC529 Cats Whiskers 100 MLC67 Traminer 100 MLC368 Lone Star 100 MLC53 Gold Forty 100 MLC683 Eldorado 100 MLC369 Lone Star 100 MLC530 Lone Star 100 MLC692 Warrego Mine 100 MLC37 Golden Forty 100 MLC535 Eldorado No. 5 100 MLC705 Apollo 1 100 MLC370 Lone Star 100 MLC54 Gold Forty 100 MLC91 Carraman/ Klondyke 100 MLC371 Lone Star 100 MLC546 The Mount 100 MLC92 Carraman/Klondyke 100 MLC372 Lone Star 100 MLC55 Golden Forty 100 MLC93 Carraman/Klondyke 100 MLC373 Lone Star 100 MLC555 Tennant Creek MLC94 Carraman/Klondyke 100 MLC374 Lone Star 100 MLC558 New Hope 100 MLC95 Carraman/Klondyke 100 MLC375 Lone Star 100 MLC56 Golden Forty 100 HLDC101 Sally No Name 100 MLC376 Mulga 1 100 MLC576 Golden Forty 100 HLDC37 Warrego No. 1 100 MLC377 Mulga 1 100 MLC577 Golden Forty 100 HLDC39 Warrego Min 100 MLC378 Mulga 1 100 MLC581 Eldorado ABC 100 HLDC40 Warrego No. 2 100 MLC379 Mulga 1 100 MLC582 Eldorado ABC 100 HLDC41 Warrego No. 3 100 MLC38 Memsahib East 100 MLC583 Eldorado ABC 100 HLDC42 Warrego S7 100 MLC380 Mulga 1 100 MLC584 Golden Forty 100 HLDC43 Warrego S8 100 MLC381 Mulga 1 100 MLC585 Golden Forty 100 HLDC44 Warrego No. 2 100 MLC382 Mulga 1 100 MLC586 Golden Forty 100 HLDC45 Warrego No. 1 100 MLC383 Mulga 1 100 MLC591 TC8 Lease 100 HLDC46 Warrego No. 1 100 MLC384 Mulga 2 100 MLC592 TC8 Lease 100 HLDC55 Warrego No. 4 100 MLC385 Mulga 2 100 MLC593 TC8 Lease 100 HLDC56 Warrego No. 5 100 MLC386 Mulga 2 100 MLC594 TC8 Lease 100 HLDC58 Wiso Line No. 6 100 MLC387 Mulga 2 100 MLC595 TC8 Lease 100 HLDC59 Warrego No. 6 100 MLC4 Peko Extended 100 MLC596 TC8 Lease 100 HLDC94 Warrego No. 4 100 MLC406 Comet 100 MLC597 TC8 Lease 100 HLDC95 Warrego No. 3 100 MLC407 Comet 100 MLC598 Golden Forty 100 HLDC96 Wiso Basin 100 MLC408 Comet 100 MLC599 Mt Samuel 85 HLDC97 Wiso Basin 100 MLC409 Comet 100 MLC601 TC8 Lease 100 HLDC99 Wiso No.3 pipe 100 MLC432 Mulga 1 100 MLC602 TC8 Lease 100 MLC48 Tinto 100 MLC603 TC8 Lease 100 MLC49 Mt Samuel 100 MLC604 TC8 Lease 100 MLC498 Eldorado 100 MLC605 TC8 Lease 100 MLC499 Eldorado 100 MLC606 Lone Star 100 MLC5 Peko Extended 100 MLC607 Lone Star 100 MLC50 Eldorado Anom 100 MLC608 Lone Star 100 MLC500 Eldorado 100 MLC609 Lone Star 100 MLC501 Eldorado 100 MLC610 Lone Star 100 MLC502 Eldorado 100 MLC611 Lone Star 100 MLC503 Eldorado 100 MLC612 Lone Star 100 MLC504 Eldorado 100 MLC613 Lone Star 100 MLC505 Eldorado 100 MLC614 Lone Star 100 EMMERSON RESOURCES LIMITED Page 17 of 17 Mining Tenements Held at 30 September 2021 (New South Wales, Australia) Tenement Nam e Interest EL8463 Wellington 9 0 % EL8464 Fifield 90% EL85 90 Kiola 90% EL8652 Sebastopol 9 0 % EL8766 Greater Kadungle 100% EL8999 Kadungle 8 2 %
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