23 Nov

Withdrawal of Resolution

ASX:VKA | vikingmines.com 1 ASX ANNOUNCEMENT 23 November 2021 WITHDRAWAL OF RESOLUTION Viking Mines Limited (ASX: VKA) (“ Viking ” or “ the Company ”) advises Shareholders that Resolution 7 – Approval of Potential Termination Benefits under the Plan, which was to be put to Shareholders at the Company’s Annual General Meeting scheduled for 2:30pm (WST) on 25 November 2021, has been withdrawn and will not be put to the meeting. EN D This announcement has been authorised for release by the Company Secretary. Julian Woodcock Managing Director and CEO Viking Mines Limited For further information, please contact: Viking Mines Limited Sarah Wilson - Company Secretary +61 8 6245 0870 Media & Investor Relations Citadel - MAGNUS Cameron Gilenko +61 466 984 953 Jonathan van Hazel +61 411 564 969 ABOUT VIKING MINES Viking Mines is a gold focussed company with the First Hit Project located 150km NW of Kalgoorlie in Western Australia being the primary asset under exploration. Viking have an aggressive exploration strategy to explore for high grade gold occurrences and discover ounces along fertile gold structures. The historically mi ned, First Hit gold mine is the focus of Vikings activity to deliver on this strategy. Rapid advancement and exploration are occurring to explore, discover and develop gold ounces at the Project. The strategy will generate shareholder value through the dis covery of new gold resources. First Hit Project, Western Australia The First Hit Project is centred around the historic high - grade First Hit gold mine situated along the prospective Ida and Zuleika Shear zones in the Eastern Goldfields of Western Australia . The Project incorporates ~28km 2 of tenements with 6 active Mining and Prospecting licences and 1 Exploration licence under application. At the core of this landholding is a 6.4km 2 group of contiguous tenements which host the historic First Hit gold mine. Prior to closure of the First Hit gold mine by Barra Resources in 2002 and at a time of depressed gold prices of US$ 320/oz, the First Hit mine produced ~30koz ounces of gold at an average grade of ~7.7g/t Au. No modern exploration activity has been condu cted in the past 18 years and creates a significant opportunity for Viking. The Company is focused on delivering exploration programmes to test near mine extensions and regional targets around the First Hit Project with the objective of defining fertile st ructures and discovering gold ounces. Examples of the high - grade nature of the mineralisation previously drilled at First Hit include: • 4.9m at 64.8g/t Au from 62.1m (FHU045) 1 • 3m at 77.6g/t Au from 224.0m (BFH030) 1 • 4m at 26.1g/t Au from 58.0m (BFH005) 1 Th e Project area is well serviced by infrastructure and is located 50km west of the sealed Goldfields highway and the township of Menzies. The nearest operating Gold Processing Plant is the Davyhurst Mill 50km to the south, owned and operated by Ora Banda Mi ning (ASX:OBM). The nearest operating gold mine is the Riverina open pit, located 8km south of the First Hit gold mine, owned by OBM. The Company also has projects located in Ghana. Viking is currently undergoing legal proceedings to secure costs and inter est associated with the sale of the Akoase project in Ghana. Forward - Looking Statements This document may include forward - looking statements. Forward - looking statements include, but are not limited to, statements concerning Viking Mines Limited’s planned exploration program and other statements that are not historical facts. When used in this document, the words such as "could," "plan," "estimate," "expect," "intend," "may”, "potential," "should," and similar expressions are forward - looking statements. Although Viking Mines Limited believes that its expectations reflected in these forward - look ing statements are reasonable, such statements involve risks and uncertainties and no assurance can be given that actual results will be consistent with these forward - looking statements. Competent Persons Statement Information in this release that relates to Exploration Results on the Western Australian projects is based on information co mpiled by Mr Ian Stockton, who is a Member of the Australian Institute of Mining and Metallurgy (AusIMM). Mr Stockto n is a full - time employee of CSA Global. Mt Stockton is engaged by Viking Mines Ltd as an independent consultant. Mr Stockton has sufficient experience which is relev ant to the style of mineralisation and type of deposit under consideration and to the acti vity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. The exp loration results were first reported to ASX on 26 November 202 0. The Company confirms that it is not aware of any new information or data that materially affects the information and all material assumptions and technical parameters underpinning the estimates continue to apply an d have not materially changed. The Comp any confirms that the form and context in which the Competent Persons’ findings are presented have not been materially modified from the original. 1 ASX announcement dated 26 th November 2020
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