Announcement PDF www.exultantmining.com.au Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 7th May 2026 HIGH-PRIORITY DRILL TARGETS FINALISED AT BALERION PROSPECT AHEAD OF IMMINENT DRILLING HIGHLIGHTS • Drilling approval received; contractors secured for rapid mobilisation • Peak View Prospect renamed to the Balerion Prospect following advancement to drill-ready targets • 12-hole targeted drill program finalised at the Balerion Prospect within the Peak View Project, NSW • Drill targets defined from integrated multi-element soil geochemistry and induced polarisation (“IP”) survey results, with gravity and magnetic data used to further refine targeting and structural interpretation • Drill program designed to test undrilled targets and extensions to known high-grade mineralisation Exultant Mining Limited (ASX: 10X) (“Exultant” or “the Company”) is pleased to announce that it has received drilling approval from the NSW Resources Regulator and has finalised a targeted 12-hole RC drill program at the Balerion Prospect, formerly referred to as the Peak View Prospect, within its Peak View Project in New South Wales. The program has been finalised following the Company’s recent soil geochemistry program, which defined a 900m-long coincident Cu-Pb-Zn-Ag-Au soil anomaly, and subsequent geophysical work, which identified multiple high-priority IP (Fig. 1) and gravity anomalies and materially improved structural understanding across the prospect.1, 2 Following final target ranking and drillhole design, the Company has renamed the Peak View Prospect to the Balerion Prospect. The Peak View Project name remains unchanged. Comment from Executive Chairman, Brett Grosvenor: “Finalising this drill program is an important step in advancing Balerion toward first-pass drill testing of targets generated from our recent geochemical and geophysical work. The holes have been designed to test the strongest and most coherent anomalies defined from the integration of soil geochemistry and IP, with gravity, magnetic and historical drilling data providing further support in several areas. With the drilling approval received, contractors secured and ready to mobilise, we are very close to commencement of drilling and unlocking the secrets of Balerion. This is exactly what we have been working towards and this will become a pivotal point for 10X and our shareholders” www.exultantmining.com.au Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 NEXT STEPS Earthworks and drilling contractors have already been secured to prepare access and drill sites, and to carry out the planned drill program. With approval now in place, the Company intends to: • Complete earthworks and drill pad preparation • Mobilise the drilling contractor to site • Commence drilling of the priority targets • Integrate drilling results with the existing geochemical,IP, gravity and magnetic datasets to refine the broader geological model Figure 1. Satellite image of the Balerion Prospect showing the location of planned drillholes in relation to historic collars and existing access tracks www.exultantmining.com.au Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 PLANNED DRILLHOLES The Balerion drill program has been designed to test targets generated through the integration of surface geochemistry and IP geophysics, with gravity and magnetic datasets providing additional support in a number of areas. The Company notes that this same exploration approach - combining geochemistry and IP to define drill targets - helped lead to the discovery of the Woodlawn deposit in the 1970s.3 This reference is provided as regional and methodological context only and is not necessarily indicative of mineralisation at Balerion. The location of the planned drillholes are shown in Figure 2 and their respective targets are: • PVRC_A – Testing a strong coincident chargeability and resistivity high beneath the widest part (200m) of the Cu-Pb-Zn-Ag-Au soil anomaly • PVRC_B – Targeting a resistivity low anomaly down-dip of a coincident chargeability-resistivity high beneath the widest part (200m) of the multi-element soil anomaly • PVRC_C – Targeting a coincident chargeability-resistivity high beneath the multi-element soil anomaly (Fig. 2) • PVRC_D – Targeting a resistivity low anomaly down-dip of a coincident chargeability-resistivity high beneath the soil anomaly (Fig. 2) • PVRC_E – Testing a western coincident chargeability-resistivity-gravity high (Fig. 3) • PVRC_F – Targeting a coincident magnetic low, weak chargeability response and gravity low anomaly down-dip of PVD001/PVD002 • PVRC_G – Targeting a resistivity low anomaly down-dip of PVD001/PVD002 • PVRC_H – Targeting a resistivity low anomaly down-dip of PVI006 (4.4m @ 342.7g/t Ag, 4% Pb, 1.1% Cu, 0.74g/t Au & 0.84% Zn from 48.7m4 ) • PVRC_I – Targeting a coincident magnetic low, weak chargeability response and gravity low anomaly down-dip of PVI006 • PVRC_J – Targeting a coincident chargeability-gravity high proximal to the Peak View Thrust Fault • PVRC_K – Targeting a coincident chargeability-gravity high • PVRC_L – Targeting a resistivity low anomaly down-dip from high-grade massive sulphides intersected in PVI008 (0.8m @ 22% Zn, 11.6% Pb, 1.2% Cu, 155g/t Ag, 0.5g/t Au from 152.6m4 ) (Fig. 4) These holes are designed to test a combination of undrilled anomalies, structurally favourable positions and down-dip extensions to known mineralisation. Collectively, the program represents the first systematic drill test of targets generated from the Company’s integrated geochemical and geophysical datasets. www.exultantmining.com.au Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 Figure 2. Section 6006635mN (+/-25m) showing planned drillholes PVRC_C, PVRC_D & PVRC_K testing the coincident chargeable (green to red)-resistive (blue) anomaly beneath the resistive low (green shells). Note PVI010 ended in strongly altered and mineralised core Figure 3. Oblique section looking NW showing planned hole PVRC_E targeting a coincident gravity- chargeable-resistive high anomaly www.exultantmining.com.au Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 Figure 4. Section 6006850mN (+/-25m) showing planned drillhole PVRC_L targeting a resistive low anomaly (green shells) directly down dip of PVI008 (pictured: 0.8m @ 22% Zn, 11.6% Pb, 1.2% Cu, 155g/t Ag, 0.5g/t Au from 152.6m4 ), along the same prospective horizon. INTERPRETATION AND TARGETING RATIONALE The Balerion drill program has been designed to test targets generated from the integration of the Company’s 900m-long Cu-Pb-Zn-Ag-Au soil anomaly with recently completed IP and gravity surveys, supported by reprocessed magnetic data and historical drilling. This integrated approach has materially improved the Company’s understanding of the structural and stratigraphic controls at the prospect and underpins the ranking of the planned drillholes. Coincident chargeability-resistivity highs Several of the highest-priority targets are defined by coincident chargeability highs and resistivity highs beneath the broadest part of the multi-element soil anomaly. The Company interprets these anomalies as potential VMS feeder or “pipe” positions within the footwall, where disseminated sulphides developed within a silicic alteration zone may generate a combined chargeability-high and resistivity- high response. In a VMS setting, this type of response may be associated with copper-rich sulphides www.exultantmining.com.au Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 (Fig. 5); however, the source, geometry and mineral content of the anomalies remain untested and will require drilling to confirm. Resistivity-low targets down-dip of known sulphides A second important target style comprises resistivity-low anomalies located down-dip of, and along the same prospective horizon as, high-grade massive and semi-massive sulphides previously intersected in historical drilling, including PVI006 (4.4m @ 342.7g/t Ag, 4.0% Pb, 1.1% Cu, 0.74g/t Au and 0.84% Zn from 48.7m4 ) and PVI008 (0.8m @ 22.0% Zn, 11.6% Pb, 1.21% Cu, 155g/t Ag and 0.50g/t Au from 152.6m4 ). The Company considers these resistivity-low anomalies may represent thicker accumulations of more conductive sulphides directly down-dip of the known massive sulphide intersections. Importantly, the massive sulphide interval in PVI008 sits outside the mapped resistivity-low anomaly and therefore does not appear to account for the conductive response. This is considered encouraging, particularly given the 1.2% Cu intersection in PVI008, as it suggests the targeted resistivity-low zone may reflect a separate and potentially thicker sulphide accumulation immediately down-dip. Structural and density targets Additional targets, including coincident chargeability-gravity anomalies proximal to the Peak View Thrust, are being tested because they occur within a structurally favourable setting adjacent to the interpreted southern continuation of the Narongo Fault and at the intersection of transverse structures considered prospective for sulphide accumulation and/or Fe-rich alteration. The Company cautions that these interpretations are conceptual only. Drilling is required to determine whether the anomalies are caused by VMS-related sulphides, alteration, lithological contrasts, structural effects, or a combination of these factors. Figure 5. Conceptual comparison between a VMS feeder/pipe model5 and the coincident chargeability- resistivity anomaly at the Balerion Prospect. The comparison is illustrative only and drilling is required to confirm the geological source of the anomaly. www.exultantmining.com.au Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 This announcement has been approved for release by the Chairman of the Board of Directors of the Company. For further information on Exultant Mining Limited please contact: Brett Grosvenor Paul Berson Exultant Mining Limited Corporate Storytime Executive Chairman Investor Relations Info@exultantmining.com.au paul@corporatestorytime.com Ph: +61 (08) 9481 0389 Ph: +61 (0) 421 647 445 1 - See ASX 10X announcement "Strong Soil Anomalies Deliver High-Priority Targets-PeakView" - 11th February 2026 2 - See ASX 10X announcement "Multiple High-Priority Drill Targets at Peak View Prospect" - 9th April 2026 3 - Whiteley, R. J. 1981. Geophysical Case Study of the Woodlawn Orebody, N.S.W., Australia 4 - Refer to Table 1 5 - Penner, R. 2023. Trace Element Geochemistry of Volcanogenic Massive Sulfide Deposits in Archean Greenstone Belts: Implications for Metal Endowment and Geodynamic Settings. ABOUT THE PEAK VIEW PROJECT The Peak View Project is located 35km NE of Cooma within the Lachlan Fold Belt. The project is prospective for gold, silver, copper & base metals and hosts the Balerion (formerly Peak View), Big Badja and Undoo Creek prospects. www.exultantmining.com.au Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 Disclaimer Someofthestatementsappearinginthisannouncementmay beinthenatureofforward-lookingstatements. You should be aware that such statements are only predictions and are subject to inherent risks and uncertainties.ThoserisksanduncertaintiesincludefactorsandrisksspecifictotheindustriesinwhichExultant operates and proposes to operate as well as general economic conditions, prevailing exchange rates and interest rates and conditions in the financial markets, among other things. Actual events or results may differ materially from the events or results expressed or implied in any forward-looking statement. No forward- looking statement is a guarantee or representation as to future performance or any other future matters, which will be influenced by a number of factors and subject to various uncertainties and contingencies, many of which will be outside Exultant’s control. Exultant does not undertake any obligation to update publicly or release any revisions to these forward-looking statements to reflect events or circumstances after today’s date or to reflect the occurrence of unanticipated events. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness or correctness of the information, opinions or conclusions contained in this announcement. To the maximum extent permitted by law, none of Exultant, its Directors, employees, advisors or agents, nor any other person, accepts any liability for any loss arising from the use of the information contained in this announcement. You are cautioned not to place undue reliance on any forward-looking statement. The forward-looking statements in this announcement reflect views held only as www.exultantmining.com.au Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 of the date of this announcement. This announcement is not an offer, invitation or recommendation to subscribe for or purchase securities by Exultant. Nor does this announcement constitute investment or financial product advice (nor tax, accounting or legal advice) and is not intended to be used for the basis of making an investment decision. Investors should obtain their own advice before making any investment decision. Competent Person Statement The information in this announcement that relates to Exploration Results is based on, and fairly represents, information compiled and reviewed by Sebastian Hind. Mr Hind is a senior geologist for Exultant Mining LimitedandaMemberoftheAustralasianInstituteofMiningandMetallurgy(Membershipnumber3116971). Mr Hind has sufficient experience which is 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 in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code). Mr Hind consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears. Table 1: Summary of Peak View Prospect Significant Intersects (3% Zn+Pb or 0.5% Cu or 30g/t Ag or 0.5g/t Au Cut-off) ID FROM TO LENGTH (m) Ag ppm Au ppm Cu % Pb % Zn % PV001 78.7 79.2 0.5 114.0 0.17 3.08 8.28 PV001 79.2 80.0 0.8 36.0 0.46 1.10 PV002 25.0 25.2 0.2 31.0 0.25 PV002 164.1 164.8 0.7 95.0 2.60 2.09 PV002 164.8 165.5 0.8 269.0 0.75 3.82 7.74 PV002 165.5 166.5 1.0 63.0 0.12 0.63 1.51 PVD003 32.2 32.3 0.1 90.0 0.05 3.40 1.39 3.60 PVD003 32.3 32.4 0.1 70.0 0.05 1.55 1.61 4.50 PVD003 32.4 32.5 0.1 70.0 2.30 1.56 4.20 PVD003 32.5 32.6 0.1 80.0 0.05 1.53 1.83 4.90 PVD003 32.6 32.7 0.1 100.0 0.15 1.79 7.40 6.90 PVD003 32.7 32.8 0.1 110.0 0.10 1.76 4.50 10.30 PVD003 32.8 32.9 0.1 140.0 0.10 2.80 2.20 6.10 PVD003 32.9 33.0 0.1 100.0 0.10 2.60 5.10 11.20 PVD003 33.0 33.1 0.1 110.0 0.25 1.02 10.10 18.90 www.exultantmining.com.au Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 ID FROM TO LENGTH (m) Ag ppm Au ppm Cu % Pb % Zn % PVD003 33.1 33.2 0.1 110.0 0.25 9.50 17.90 PVD003 33.2 33.3 0.1 110.0 0.20 10.90 18.20 PVD003 33.3 33.4 0.1 90.0 0.20 1.06 7.60 15.20 PVD003 33.4 33.5 0.1 100.0 0.20 1.63 7.90 15.80 PVD003 33.5 33.6 0.1 100.0 0.25 4.40 6.70 14.50 PVD003 33.6 33.7 0.1 90.0 0.10 5.60 3.60 7.30 PVD003 33.7 33.8 0.1 70.0 0.20 1.71 5.60 14.30 PVD003 33.8 33.9 0.1 110.0 0.15 1.28 4.50 15.40 PVD003 33.9 34.0 0.1 200.0 0.35 1.39 7.80 22.00 PVD003 34.0 34.1 0.1 190.0 0.25 1.71 11.90 22.00 PVD003 34.1 34.2 0.1 100.0 0.20 9.20 9.70 PVD003 37.6 37.7 0.1 70.0 2.90 5.60 PVD005 50.0 53.0 3.0 17.0 0.30 1.27 2.30 PVD005 52.3 52.8 0.5 90.0 0.30 8.50 15.60 PVD006 50.6 51.0 0.4 150.0 0.05 2.90 5.50 PVD006 51.0 51.6 0.6 46.0 0.10 1.28 2.30 PVD007 91.0 92.8 1.9 60.0 0.40 4.25 1.23 2.90 PVD007 92.8 93.2 0.4 40.0 0.50 3.70 11.00 PVD007 93.2 93.6 0.4 25.0 0.05 1.39 PVD012 36.0 38.0 2.0 5.0 1.92 2.50 PVD012 48.0 48.2 0.2 5.0 1.00 PVD013 200.1 201.0 1.0 22.0 0.05 1.16 3.20 PVD013 201.0 201.5 0.5 60.0 0.10 1.15 3.20 11.20 PVD013 201.5 201.9 0.4 27.0 0.05 1.44 1.35 PVD014 215.5 215.7 0.2 90.0 2.60 4.60 PVD014 216.1 216.4 0.3 140.0 0.50 1.00 PVD014 217.0 219.0 2.0 130.0 PVI001 180.0 180.4 0.4 62.6 0.70 PVI001 183.2 183.6 0.4 2.0 0.50 PVI002 160.1 160.2 0.1 64.2 0.50 1.37 2.75 PVI002 218.4 218.9 0.5 3.3 1.33 2.43 PVI003 45.9 46.4 0.5 41.5 0.30 2.35 4.96 PVI003 46.4 47.5 1.1 35.5 PVI003 47.5 48.4 0.9 131.0 0.60 1.18 PVI003 48.4 49.9 1.5 34.2 PVI003 53.0 53.7 0.7 6.1 PVI003 53.7 54.0 0.3 28.0 0.20 3.47 6.71 PVI003 54.0 54.5 0.5 12.0 1.22 2.32 PVI003 54.5 56.2 1.7 24.0 0.30 0.99 3.93 6.77 PVI003 56.2 57.4 1.2 60.0 PVI003 83.3 84.4 1.1 2.0 0.80 PVI005 48.3 48.5 0.2 28.0 0.30 1.29 3.39 www.exultantmining.com.au Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 ID FROM TO LENGTH (m) Ag ppm Au ppm Cu % Pb % Zn % PVI006 48.7 49.7 1.0 150.0 0.24 1.46 PVI006 49.7 50.2 0.5 334.0 2.29 2.58 7.31 PVI006 50.2 50.9 0.7 1270.0 0.36 1.41 7.02 PVI006 50.9 51.7 0.8 72.0 0.64 1.62 PVI006 51.7 52.3 0.6 155.0 0.51 1.05 2.67 PVI006 52.3 53.1 0.8 75.0 0.40 4.33 3.73 PVI006 53.1 54.3 1.2 13.0 0.10 1.38 2.48 PVI007 93.7 94.1 0.4 7.0 1.40 PVI008 152.6 153.3 0.8 155.0 0.50 1.21 11.60 22.00 PVI008 153.3 153.5 0.2 10.0 1.57 PVI009 253.5 254.5 1.0 6.0 PVI009 254.5 255.0 0.5 3.0 1.22 PVI009 255.0 255.6 0.6 6.0 0.20 3.55 5.76 PVI009 256.0 257.0 1.0 4.0 1.38 2.80 PVI009 258.0 258.6 0.6 33.0 3.46 6.15 PVI010 106.1 106.3 0.2 28.0 0.40 1.38 2.71 PVI010 106.3 106.8 0.5 13.0 PVI010 106.8 107.4 0.6 22.0 2.79 7.34 Table 2: Summary of Peak View Historic Drill Collars ID MGA20z55_E MGA20z55_N RL DIP AZI DEPTH COMPANY PVD001 713561 6006751 950 -60 255 108.8 Western Mining Corporation Limited PVD002 713561 6006751 950 -90 0 107 Western Mining Corporation Limited PVD003 713351 6007164 988 -75 255 118.5 Western Mining Corporation Limited PVD004 713701 6006138 939 -60 255 122.2 Western Mining Corporation Limited PVD005 713395 6007112 983 -60 270 79.8 Western Mining Corporation Limited PVD006 713358 6007214 995 -60 270 89.4 Western Mining Corporation Limited PVD007 713406 6007162 991 -75 270 110 Western Mining Corporation Limited PVD008 713423 6007060 978 -60 270 99 Western Mining Corporation Limited PVD009 713459 6006959 978 -75 270 80 Western Mining Corporation Limited PVD012 713669 6006241 935 -60 270 106.7 Western Mining Corporation Limited PVD013 713487 6007161 989 -75 270 231.7 Western Mining Corporation Limited PVD014 713479 6007261 994 -75 270 284.5 Western Mining Corporation Limited PVD015A 713554 6007057 976 -60 270 79.9 Western Mining Corporation Limited PVD015B 713554 6007057 976 -65 270 234.9 Western Mining Corporation Limited PV001 713372 6007277 998 -60 270 109.5 Denehurst PV002 713368 6007269 998 -90 0 181.5 Denehurst www.exultantmining.com.au Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 PVI001 713432 6007225 1009 -75 265 220 Ironbark Zinc Limited PVI002 713507 6007097 1000 -75 255 243.8 Ironbark Zinc Limited PVI003 713509 6006880 967 -75 255 89.5 Ironbark Zinc Limited PVI004 713446 6007016 979 -75 270 125.4 Ironbark Zinc Limited PVI005 713498 6006921 966 -75 270 69.5 Ironbark Zinc Limited PVI005B 713498 6006920 966 -75 240 78.1 Ironbark Zinc Limited PVI006 713537 6006825 970 -75 275 69.3 Ironbark Zinc Limited PVI007 713537 6006825 970 -85 80 126.3 Ironbark Zinc Limited PVI008 713601 6006861 995 -75 275 264.5 Ironbark Zinc Limited PVI009 713558 6007164 985 -75 275 306.6 Ironbark Zinc Limited PVI010 713598 6006639 948 -75 275 116.8 Ironbark Zinc Limited Table 3: References to Historic Explorers’ Drill Results Reference Source Company Year NSW Title Previously Reported under a prior JORC Code Link to source R00011711 Western Mining Corporation 1978 PL 278 No https://search.geoscience.nsw.gov.au/rep ort/R00011711 R00011712 Western Mining Corporation 1978 PL 278 No https://search.geoscience.nsw.gov.au/rep ort/R00011712 R00011276 Western Mining Corporation 1980 PL 278 No https://search.geoscience.nsw.gov.au/rep ort/R00011276 R00011278 Western Mining Corporation 1980 PL 278 No https://search.geoscience.nsw.gov.au/rep ort/R00011278 R00001119 Denehurst Limited 1994 EL 4613 No https://search.geoscience.nsw.gov.au/rep ort/R00001119 RE0002300 Ironbark Zinc limited 2011 EL 6925 Yes https://search.geoscience.nsw.gov.au/rep ort/RE0002300 RE0003813 Ironbark Zinc limited 2012 EL 6925 Yes https://search.geoscience.nsw.gov.au/rep ort/RE0003813 www.exultantmining.com.au Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 Appendix A: Peak View JORC Code, 2012 Table Section 1 Sampling Techniques and Data Criteria JORC Code Explanation Commentary Sampling techniques • Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. • Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information. Geophysics • The geophysical program comprised an induced polarisation (IP) survey and a ground gravity survey completed over the Peak View Prospect. The IP survey was designed as a time-domain dipole-dipole survey with 50m receiver dipole length and 50m transmitter dipole length. • Survey parameters included up to n=16 levels, signal dependent, with a 2 second cycle (0.125 Hz). • The planned survey comprised four east-west oriented lines of approximately 1,550m each, spaced 200m apart, for total planned coverage of approximately 6.6 line km. • The gravity survey was designed on a nominal 100m x 100m station grid over the prospect area, for approximately 136 stations, with provision for additional 50m infill stations over areas of interest if required. Rock Chip Sampling • Rock Chips are broken from outcrop or float using a steel Estwing geological hammer, the entire sample (nominal 0.5kg) is pulverised to produce a 30g charge for fire assay (Au-AA23) to analyse for Au and 0.25g is used for multi- element analysis (ME-MS61), where it uses a four acid digestion to dissolve nearly all minerals. It’s then measured using a mass spectrometer and optical emission spectrometer. • Sample locations are marked using handheld GPS • Sampling is conducted by Company personnel www.exultantmining.com.au Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 Criteria JORC Code Explanation Commentary • Lithology, alteration and mineralogy are logged in the field and entered into a spreadsheet by a company geologist Historic sampling • Historic sampling includes: o Stream sediment sampling by multiple explorers (WMC 1971, Delta Gold 1993). o Soil sampling campaigns by WMC at Peak View Prospect. o Drilling by WMC during 1978-82 period (14 holes), Denehurst in 1995-96 (2 holes) and Ironbark Zinc during 2010-2012 (11 holes) at Peak View Prospect with 1,170 samples analysed for Cu, Pb, Zn, As, Ag. Some of the samples were assayed for Au. • Analytical methods included AAS and fire assay; however, QAQC protocols from 1975-1995 are not consistently documented in available reports. • Rock chips collected by Peak View Exploration were pulverized to produce a 25g charge for aqua regia digestion with a MS analytical finish to analyze for 52 elements (AR25/MS52) Drilling Techniques • Drill type (e.g. core, reverse circulation, open- hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face- sampling bit or other type, whether core is oriented and if so, by what method, etc). • 27 drill holes completed historically between 1975-2012, comprising: o WMC 1978 – 1982: 14 diamond drillholes for total of 1,852 metres with an average of 132 m. o Denehurst 1995-96: 2 diamond drillholes for total of 291 m. o Ironbark Zinc 2010-2012: 11 diamond drill holes for total of 1,710 m. • Hole orientations generally –60° toward local grid west. • Diamond holes were NQ/HQ Size. • Drilling unit was track mounted. • Core orientation methods not documented in available reports. www.exultantmining.com.au Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 Criteria JORC Code Explanation Commentary Drill Sample Recovery • Method of recording and assessing core and chip sample recoveries and results assessed. • Measures taken to maximise sample recovery and ensure representative nature of the samples. • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. • Recovery records are limited or inconsistently reported in historic drilling programs. • No systematic recording of core recovery or sample quality documented for early programs (1975-1995). • Potential sample bias due to preferential loss in broken ground zones cannot be assessed from available data. Logging • Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. • The total length and percentage of the relevant intersections logged. • Historic core has been geologically logged to varying standards depending on the operator and time period. • Logging generally qualitative in nature, focusing on lithology, alteration, and mineralisation. • Core photography not systematically undertaken in early programs. • Detailed structural logging limited, though some programs noted shear- foliation oriented N-S with steep dip. • Most intersections appear to have been logged, though detail level varies significantly between operators. Subsampling techniques and sample preparation • If core, whether cut or sawn and whether quarter, half or all core taken. • If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. • For all sample types, the nature, quality and appropriateness of the sample preparation technique. • Quality control procedures adopted for all sub- sampling stages to maximise representivity of samples. • Measures taken to ensure that the sampling is representative of the insitu material collected, • Core sampling methods are not consistently documented across all historic programs. • RC samples collected at 0.66 m intervals in most programs; Diamond drilling samples collected at 0.1 m intervals. • Sample preparation procedures varied between operators and time periods. • No documented field duplicate or second-half sampling programs. • Quality control procedures for sub-sampling are not systematically documented for early programs. • Rock Chips are broken from outcrop or float using a steel Estwing geological hammer, the entire sample (nominal 0.5kg) is pulverised to produce a 30g charge for fire assay (Au-AA23) to analyse for Au and 0.25g is used for www.exultantmining.com.au Level 8, 216 St Georges Terrace, Perth, Western Australia 6000 T: +61 (08) 9481 0389 E: info@exultantmining.com.au ACN 684 147 484 Criteria JORC Code Explanation Commentary including for instance results for field duplicate/second-half sampling. • Whether sample sizes are appropriate to the grain size of the material being sampled multielement analysis (ME-MS61), where it uses a four-acid digestion to dissolve nearly all minerals. It’s then measured using a mass spectrometer and optical emission spectrometer. • Rock chips collected by Peak View Exploration were pulverized to produce a 25g charge for aqua regia digestion with a MS analytical finish to analyze for 52 elements (AR25/MS52) • In-Lab QA/QC procedures include insertion of standards, blanks and duplicates, grind checks and repeat analyses are standard procedure. • A 0.5kg sample size for a Rock Chip is an acceptable industry standard and considered appropriate for the style of mineralisation being targeted and the grain size of the rock being sampled. Quality of assay data and laboratory tests • The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. • For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations facto