The Project

Overview

The Mount Hope Project is a 175km² landholding in the prolific Cobar Super basin in central New South Wales. The tenements comprising the Mount Hope Project are located on the eastern margin of the Silurian to early Devonian Mt Hope Trough (refer to Figure 2 below). There is currently no JORC Code compliant resource within the Mount Hope Project area.

The Mount Hope Project benefits from its strategic location. It’s well-connected to essential infrastructure, including power, water, and transport links such as the NSW major state highway B87, the “Kidman Way”. The southern tenement EL8290 is cross-cut by the Broken Hill rail line and tenement EL8654 is 800m north of the Matakana Rail siding via the Kidman Way. The Broken Hill rail line provides the Mount Hope Project with access links to all seaports in New South Wales.

The Mount Hope Project is located 148km south of the regional centre of Cobar where mining has been a primary industry for over 100 years. There is access to exploration services such as drilling contractors, staff and suppliers. The Mount Hope Project is also on the doorstep of the historic town of Mount Hope providing amenities such as accommodation, meals and 5G phone service. The Mount Hope Project also enjoys proximity to the Moomba to Sydney gas line.

The region is prospective for ‘Cobar-style’ gold-polymetallic mineralisation. The Company’s focus will be on exploring its multiple prospects which are nearly all near-surface or outcropping.

An HISTORIC CENTRE

The Mount Hope Project hosts the historical mining centres for copper and gold in the southern part of the Cobar Basin. These centres are:

• The Mount Hope, Comet and Great Central copper mines located on the western side of the tenement package, straddle the western margin of the Mount Hope Trough and are proximal to the basin bounding Sugar Loaf fault; and

• The Mount Solitary and Solar gold mines located on the eastern side of the tenement package and are adjacent to the east-bounding Scotts Craig fault.

Mineralisation across the trough appears to be hosted within the north to north-north-east fault zones that run sub-parallel to the Sugar Loaf and Scott Craig faults. Ore shoots are localised within intersections of these faults and cross-cutting northwest or northeast faults. Elsewhere in Cobar, structure (faults and folds) coupled with the interaction of different geological units is a primary control of mineralisation.

These historic mines demonstrate the project’s fertility whilst providing direct evidence of ‘Cobar- style’ gold-polymetallic mineralisation. The Company considers an understanding of the Mount Hope Trough’s structural architecture is key to unlocking further mineralisation extending along strike from these mines and under shallow cover where limited modern exploration has ever occurred.