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calidus.com.au ABOUT CALIDUS RESOURCES Calidus Resources is an ASX listed gold exploration company which controls the Warrawoona Gold Project in the East Pilbara district of the Pilbara Goldfield in Western Australia. DIRECTORS AND MANAGEMENT Mr Mark Connelly NON-EXECUTIVE CHAIRMAN Mr David Reeves MANAGING DIRECTOR Mr Adam Miethke NON-EXECUTIVE DIRECTOR Mr Keith Coughlan NON-EXECUTIVE DIRECTOR Mr Paul Brennan CHIEF OPERATING OFFICER Ms Jane Allen GEOLOGY MANAGER Ms Julia Beckett COMPANY SECRETARY calidus.com.au ASX : CAI +61 8 6245 2050 [email protected] Suite 12, 11 Ventnor Ave West Perth WA 6005 AUSTRALIA 30 April 2019 March Quarterly Activities Report Warrawoona makes strong progress with 75% increase in Resources to 1.25Moz and PFS well advanced HIGHLIGHTS Mineral Resource at the Warrawoona Gold project Grows by 75% to 1.25Moz GR Engineering appointed to conduct Warrawoona Pre-Feasibility Study Experienced Chief Operating Officer appointed for Warrawoona Drilling Underway on Large Regional Targets Less Than Marketable Parcel Share Sale Facility Completed Tenement Acquisition and Issue of Shares POST QUARTER HIGHLIGHTS Wide outcropping mineralisation intersected in the heart of Calidus’ 1.25Moz Resource Placement with Alkane Resources to Raise $2.16m The Board of Calidus Resources Limited (ASX:CAI) (‘Calidus’ or the ‘Company’) is pleased to provide the following activities report that outlines the progress made during the March 2019 Quarter. It was a highly productive quarter with a number of key developments which are extremely positive for the Company. Mineral Resource Grows by 75% to 1.25 million ounces of gold On 6 February 2019 Calidus announced a substantial increase in the Company’s Mineral Resource with a high conversion to Indicated Mineral Resources at the Warrawoona Gold Project located in the Pilbara of Western Australia. Highlights included: Total JORC 2012 Mineral Resource (Measured, Indicated and Inferred) for the 100%-owned Warrawoona Gold Project now stands at: 21.2Mt at 1.83 g/t Au for 1.25 million ounces Total contained ounces increased by 75% increase to 1.25 million ounces The Mineral Resource contains a high-grade component estimated to contain: 14.6Mt @ 2.37g/t Au for 1.1 million ounces Resource remains open both at depth and along strike Updated Resource will be incorporated into the PFS, which is progressing and due for completion in Q3-CY2019

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Page 1: East Pilbara district of the Pilbara Warrawoona makes ... · quartz porphyry outcrops and wa s designed to test for extensions to this zone towards the south -west. The 5 holes drilled

calidus.com.au

ABOUT CALIDUS RESOURCES

Calidus Resources is an ASX listed gold exploration company which controls the Warrawoona Gold Project in the East Pilbara district of the Pilbara Goldfield in Western Australia.

DIRECTORS AND MANAGEMENT

Mr Mark Connelly NON-EXECUTIVE CHAIRMAN Mr David Reeves MANAGING DIRECTOR

Mr Adam Miethke NON-EXECUTIVE DIRECTOR

Mr Keith Coughlan NON-EXECUTIVE DIRECTOR

Mr Paul Brennan CHIEF OPERATING OFFICER Ms Jane Allen GEOLOGY MANAGER Ms Julia Beckett COMPANY SECRETARY

calidus.com.au

ASX : CAI

+61 8 6245 2050

[email protected]

Suite 12, 11 Ventnor Ave West Perth WA 6005 AUSTRALIA

30 April 2019

March Quarterly Activities Report

Warrawoona makes strong progress with 75% increase in Resources to 1.25Moz and PFS well advanced

HIGHLIGHTS

• Mineral Resource at the Warrawoona Gold project Grows by 75% to 1.25Moz

• GR Engineering appointed to conduct Warrawoona Pre-Feasibility Study

• Experienced Chief Operating Officer appointed for Warrawoona

• Drilling Underway on Large Regional Targets

• Less Than Marketable Parcel Share Sale Facility Completed

• Tenement Acquisition and Issue of Shares

POST QUARTER HIGHLIGHTS

• Wide outcropping mineralisation intersected in the heart of Calidus’ 1.25Moz Resource

• Placement with Alkane Resources to Raise $2.16m

The Board of Calidus Resources Limited (ASX:CAI) (‘Calidus’ or the ‘Company’) is pleased to provide the following activities report that outlines the progress made during the March 2019 Quarter. It was a highly productive quarter with a number of key developments which are extremely positive for the Company.

Mineral Resource Grows by 75% to 1.25 million ounces of gold

On 6 February 2019 Calidus announced a substantial increase in the Company’s Mineral Resource with a high conversion to Indicated Mineral Resources at the Warrawoona Gold Project located in the Pilbara of Western Australia.

Highlights included:

• Total JORC 2012 Mineral Resource (Measured, Indicated and Inferred) for the 100%-owned Warrawoona Gold Project now stands at:

21.2Mt at 1.83 g/t Au for 1.25 million ounces

• Total contained ounces increased by 75% increase to 1.25 million ounces • The Mineral Resource contains a high-grade component estimated to contain:

14.6Mt @ 2.37g/t Au for 1.1 million ounces

• Resource remains open both at depth and along strike • Updated Resource will be incorporated into the PFS, which is progressing and due

for completion in Q3-CY2019

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During 2018 Calidus completed 260 drill holes representing 36,651m of drilling at Klondyke and the various surrounding satellite deposits which forms the basis of this significant increase in Mineral Resources. This included mine development drilling undertaken on the Klondyke Deposit for geotechnical, metallurgical and hydrological studies. The total Mineral Resource inventory for the Warrawoona Gold Project is 21.2 Mt at 1.83 g/t for 1,248,000 ounces and includes Indicated Mineral Resources of 13.5 Mt @ 1.83 g/t for 795,000 ounces.

Klondyke Mineral Resource

The Mineral Resource for the Klondyke Deposit increased by 76% from the December 2017 JORC Resource of 654,000 ounces at a grade of 2.06g/t Au to 1,150,000 ounces at 1.79g/t (refer Table 1). The resource contains a high-grade component at a 0.8g/t open pit cut-off of 800,000 ounces at 2.19g/t Au.

The major contributor to the Resource increase is the Klondyke Main Shear, which encompasses the Klondyke East prospect as well as the St George Shear prospect lying 150m immediately to the North of the Klondyke Main Shear. Infill and extensional drilling increased overall shallow Resources by 42% to a total of 17.8Mt at 1.62g/t Au for 930,000 ounces (at a 0.5g/t Au cut-off).

Table 2 demonstrates the impact on the overall grade when using a higher cut-off grade of 0.8g/t Au on the shallow mineralisation amenable to open-pit mining. The breakdown of the Klondyke Resource is as follows:

Table 1. Klondyke Mineral Resource Estimate using 0.5g/t Au cut-off above 100mRl and 2g/t Au cut-off below 100mRl

Table 2. Klondyke Mineral Resource Estimate (0.8g/t Au cut-off)

The important features from the upgraded Klondyke Mineral Resource include:

• Hosts an outcropping 800,000 ounces at 2.2g/t (at a 0.8g/t open pit cut-off), demonstrating the existence of near surface, high grade, potential open pit mineralisation;

• Potential underground mineralisation of 220,000 ounces (at a 2.0g/t cut-off) to an average depth of 300m;

• Klondyke Resource represents 92% of the total Resource inventory at Warrawoona allowing the Company to focus on this area for potential mine development;

• Extensive metallurgical test work has established that the gold mineralisation is free milling and amenable to gravity and cyanide extraction methods;

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• All drilling completed to date to the east of the Klondyke deposit and the down-dip portion of Klondyke vindicates the Company’s view that the mineralisation remains open down-dip and along strike in both directions; and

• Infill and extensional drilling are expected to progressively add and upgrade the Inferred component of the Mineral Resource to Indicated category.

Figure 1 illustrates the Klondyke Deposit, Klondyke East and St George Prospects included in this Mineral Resource Estimate. Figure 2 illustrates a long section of the Klondyke Resource with the distribution of drilling that was used to inform the estimate and resource classification.

Figure 1. Klondyke Dec 2018 Resource Extents Plan View

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Figure 2. Long section of the Klondyke Deposit Mineral Resource colour-coded for resource classification with 2017 Resource outline.

Satellite Mineral Resources

The Mineral Resource for Copenhagen was revised to 39,000 ounces at 4.65g/t Au of which 92% is now classified in the Indicated category.

A maiden JORC 2012 Inferred Resource was announced at Coronation of 34,000 ounces at 2.19g/t Au (at a 0.5g/t Au cut-off). This represents only 325m of a kilometric-scale regional shear package similar to that of Klondyke and remains open in all directions.

No drilling was undertaken at Fieldings Gully during 2018 however a review of the 2017 Resource model has resulted in a slight adjustment of the Resource to 0.5Mt @ 1.63g/t Au for 24,000 ounces. The location and geology of the satellite projects are displayed in Figure 3 and a breakdown of the resource for each of these projects are as follows:

Table 3. Satellite Deposits Mineral Resource Estimates

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Figure 3. Location and geology of the Copenhagen, Coronation and Fieldings Gully satellite deposits

Drilling Underway on Large Regional Targets

The Company was pleased to announce on 21 March 2019 that a regional exploration drilling campaign was underway at its 1.25 million-ounce Warrawoona Gold Project in the Pilbara of Western Australia.

The drilling will test several of the large, highly prospective anomalies identified in a recently-completed soil sampling program and is part of the Company’s strategy to grow the 1.25Moz JORC Resource at Warrawoona, where a pre-feasibility study is well advanced.

Soil Geochemistry Results The Warrawoona syncline is one of the largest greenstone-hosted goldfields in the East Pilbara, Western Australia. The currently explored gold deposits are composed of quartz lodes within three main regional shear zones: the Klondyke shear zone, the Copenhagen shear zone and the Fielding’s Find shear zone. The sub-vertical shear zones present impressive networks of quartz/calcite/sulphide/ankerite veins and are locally lined with heavily brecciated fuchsite-sericite-pyrite bearing mafic rocks. Visible gold is often observed in quartz veins throughout the mineralised package.

In early 2018 it was recognised that historic geochemistry coverage on prospective regional shear corridors to the north, south and west of the main Klondyke-Coronation-Fielding’s Gully trends was very limited. The Company has previously reported the initial 3,304 multi-element soil geochemistry samples that were collected during April and May 2018. A second programme comprising 3,059 infill and extensional soil geochemistry samples was undertaken late in 2018 and these results have now been received, refer Figure 4.

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Figure 4. Regional geology plan showing gold-in-soil anomalies

The promising dimensions of the largest +100 ppb Au-in-soil anomalies are as follows:

Klondyke Tend – 11km long, up to 350m wide Liberator – 3km long, up to 500m wide Ada North – 450m long, up to 100m wide Ada South – 4.5km long, up to 150m wide Salgash – 550m long, up to 200m wide Pryces West – 2km long, up to 350m wide

Outside of the main anomalies, there are multiple other anomalies to follow up that, although smaller in size, are more reflective of the existing satellite deposits that collectively contain just under 100,000 ounces.

Regional Drilling

A 5,000m air-core drilling programme has commenced on three high-priority exploration targets at Liberator, Cutty Sark, Trump and some initial investigatory drilling of prospective Klondyke extensional units.

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Liberator

The Liberator prospect lies approximately 15km to the West of the Klondyke resource area and represents a significant strike extent of prospective stratigraphy. The immediate Liberator area is mainly underlain by the rocks of the c.3340 Ma Euro Basalt of the Kelly Group and is centred around a series of deformed and altered quartz-porphyry bodies that have intruded a sheared footwall basaltic unit.

In 1997 Lynas Gold NL in Joint Venture with Great Southern Mines NL undertook soil sampling, rock chipping and a 5-hole RC drilling programme across the Liberator area. The historic soil sampling was concentrated around the altered quartz porphyry outcrops and was designed to test for extensions to this zone towards the south-west. The 5 holes drilled by Lynas totalled 235m and tested a strike length of only 120m. The most encouraging intersection found in CERC7 which returned 40m @ 0.44g/t Au from 0-40m (EOH)1. In addition to the drilling, rock chip sampling was undertaken around the quartz porphyry outcrop with a peak gold value of 49g/t Au.

Calidus conducted a small-scale mapping exercise over the Liberator area during 2018 as part of a regional exploration target ranking project prior to the commencement of the soil geochemistry programme. This sampling confirmed that gold anomalism extends for over 3km strike length and up to 500m in width within the Liberator project area. Gold anomalism is centred on and adjacent to altered and deformed porphyry bodies striking approximately northeast-southwest. Drilling of shallow air core holes has commenced at Liberator to follow up the near surface position of the more coherent portions of the anomaly along 3km of strike. Trump and Cutty Sark

Targets identified as being potentially significant include extensional and down dip positions adjacent to the historic high-grade Trump and Cutty Sark gold workings, where only minor historic exploration has been completed. These prospects are located within 10km of Klondyke and are near surface high-grade gold targets. The Cutty Sark prospect consists of numerous zones of historic gold workings developed in strongly sheared and deformed mafic rocks. The historic Cutty Sark mine recorded average historic production grades of approximately 57g/t Au and limited open hole reconnaissance drilling underneath the old workings intersected a best result of 8m @ 8.65g/t Au from 16-24m EOH (ended in stope)2.

The Trump prospect occurs 5km west of Klondyke and is centred around a small historic working. Originally discovered in 1937, the aggregate tonnage produced from Trump is unknown however the extent of the workings suggests that less than 2,000 tonnes have been removed as it is approximately 30m in depth. Gold mineralisation appears to be hosted by a ferruginous chert unit found interlayered with dolomitic schists and two additional thin chert units. This sedimentary package is flanked by mafic schists. Immediately west of the main shaft, historic bulldozer rock cuts exposed a 5m wide zone of highly weathered schistose material containing thin vertical quartz ironstone stringers. A 2.1m interval in this zone averaged 15.25g/t Au and it is significant to note that the zone appears to be open westwards and remains untested. Evidence of three old drillholes under the workings was noted during exploration fieldwork, however the drill logs and assays results for these holes are unavailable. It is important to note that the historic small-scale producers in the project area were not mined out, rather early exploration efforts were curtailed by problems with water incursion into the mines once the water table was intersected.

1 Ingram, J, 1998. Surrender Report for Exploration Licences E45/1238, 1239 & 1282. Coongan Gold Base Metals Project, Corunna Downs. C547/1994. Great Southern Mines NL. WAMEX A56370. 2 Talga Gold Limited Prospectus.

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Figure 5. Liberator Prospect showing Calidus detailed mapping, soil geochemistry, rockchip results and best historical intercept

Wide Outcropping Gold Mineralisation

Post quarter, Calidus announced that a review of historic rockchip, costean and channel samples had confirmed the presence of extensive, wide mineralisation from surface in the heart of the 1.25Moz Resource at its Warrawoona gold project.

As part of the Company’s ongoing data review and reprocessing, historic costeaning data has been examined in detail. During 1994, Conzinc Riotinto of Australia (CRA) optioned a number of the tenements in the Warrawoona area including the main Klondyke line of workings. CRA’s Exploration division (CRAE) subsequently carried out exploration activities during this period including rockchip sampling, channel and costean sampling, and geological mapping.

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Figure 6. CRAE Channel, Costean and Rockchip Significant Samples

The CRA exploration demonstrates that the surface outcropping portion of the Klondyke resource is amenable to sampling and mapping via costeaning, which will assist the geological understanding of the mineralisation. During CRAE’s programme, the tenement lying in the heart of the current resource was owned independently so was not sampled during this campaign. Calidus will sample this area shortly to ensure continuous costean sampling across an initial 2.5km of continuous outcropping resource.

Site/Sample Name

Northing Easting Sample Type From To Length (m) Au_ppm

KQ East Channel 4 29 25 1.44

BH5 Costean 6 38 32 1.15

BH3 Costean 17 32 15 1.37

BH2 Costean 13 26 13 1.29

Kopckes Reward Channel 8 20 12 2.24

KL's Tube Channel 35 50 15 1.07

Newcrest #12 Channel 16 24 8 1.48

3669854 7637158 801176.7 Rockchip 130.00

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3669827 7637929 799603.7 Rockchip 26.00

3669828 7637929 799603.7 Rockchip 18.50

3669856 7637158 801176.7 Rockchip 64.00

3669829 7637929 799603.7 Rockchip 10.2

3669830 7637858 799739.7 Rockchip 44.00

Table 4. CRAE Channel, Rockchip and Costean Results, 1994 (all intervals have been reported on an uncut basis).

Tenement Acquisition and Issue of Shares

The Company announced the successful completion of the 100% acquisition of the strategic tenement EL45/4555 with Epminex WA Pty Ltd covering an area of 19.2 square kilometres in the Pilbara region of Western Australia (‘’Salgash Tenement’’). The Salgash Tenement forms part of the Company’s 1.25 million ounce Warrawoona Gold Project. The consideration payable by Calidus to acquire the final 50% interest in the tenement above included a cash payment of $30,000 and 120,000 shares in the Company as per the terms in the Binding Term Sheet as detailed in the Prospectus dated 5 May 2017.

Appointment of GR Engineering for Warrawoona PFS

The Company announced on 20 February 2019 the appointment of GR Engineering Services Limited (GNG) (GR Engineering to undertake the Pre-Feasibility Study for Calidus on the 1.25 million ounce Warrawoona Gold Project. The Pre-Feasibility Study is scheduled to be completed in Q3 of this calendar year.

GR Engineering are an ASX listed, engineering company that has successfully managed 19 gold feasibility studies and the construction of three gold processing plants in Western Australia in the last 2 years and has an excellent track record of delivering process plants on time and on budget.

Appointment of Experienced Chief Operating Officer

On 12 March 2019 the Company was pleased to announce that it had taken another key step towards development and production at its Warrawoona Gold Project in WA with the appointment of experienced mining executive Paul Brennan as Chief Operating Officer.

Mr Brennan is a highly regarded Mining Engineer with a Graduate Certificate in Project Management and 20 years’ experience in the mining industry.

CORPORATE

Completion of Marketable Parcel Share Sale Facility

During the quarter, Calidus completed the less than marketable parcel share sale facility (Facility). The final number to be sold under the Facility was 3,039,136 fully paid ordinary shares. Alkane Resources Ltd agreed to purchase the shares under the Facility at a price of $0.03 per share in accordance with the offer that was announced on 28 November 2018.

Placement with Alkane Resources to Raise $2.16m

Today Calidus was pleased to announce a strategic placement of 80m shares at an issue price of 2.7c/share to Alkane Resources Ltd, a New South Wales gold producer, to raise proceeds of approximately $2.2m. The funds will be used for drilling both regional and near resource targets whilst feasibility studies are completed.

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Performance Securities

Details of performance securities on issue at 31 March 2019 were:

Number Description Summary Terms & Conversion Hurdles

275,000,000 Class B Performance Shares

Escrowed 24 months from quotation. Convert to fully paid ordinary shares on a 1:1 basis on announcement of the completion of a positive Pre-feasibility study. Full details set out in section 11.5 of the Company’s prospectus dated 8 May 2017.

Financial

At the end of the quarter Calidus and its subsidiaries held $2.3m cash and $2.3m in listed investments. Further details can be found in the Appendix 5B released with this announcement.

This position will be further boosted by the $2.16m placement announced today.

Investor Presentations

Managing Director, David Reeves, presented at the RIU Explorers Conference in Fremantle, Western Australia, on 19 February 2019 and at the Australian Energy and Minerals Investor Convergence in Brisbane, Queensland, on 28 March 2019.

Further investor presentations are planned as follows:

DATE CONFERENCE 7-9 May 2019 RIU Sydney Resources Roundup, NSW 4-5 June 2019 Resource Rising Stars, Gold Coast, QLD 17-19 July 2019 Noosa Mining Conference, QLD 5-7 August 2019 Diggers & Dealers, Kalgoorlie, WA

Shareholders are encouraged to attend any of these presentations. Passes are available from the Company, please contact Kristen Carter at [email protected] for further details.

FURTHER INFORMATION

Calidus Resources (ASX:CAI) is an ASX listed gold exploration company which controls the entire Warrawoona Gold Project in the East Pilbara district of the Pilbara Goldfield in Western Australia.

The Warrawoona Gold Project hosts a total Mineral Resource of 1,248,000 ozs at 1.83g/t Au (Indicated Mineral Resource of 13.5 Mt @ 1.83 g/t Au for 795,000 ozs, Inferred Mineral Resource of 7.7Mt @ 1.81g/t Au for 453,000 ozs) defined over a continuous 5km of strike which remains open in all directions. The Company controls approximately 781 square kilometres of prospective tenements that host over 200 historic workings and three satellite Mineral Resources at Fieldings Gully, Copenhagen and Coronation.

The Directors believe that the Company is well positioned to grow the current resource base around the existing resources and via regional exploration. This is positioning the Company to become a new Australian focussed gold development company.

- END –

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Notes Specific - ASX Announcements

The information in this announcement that relates to Exploration Targets, Exploration Results and Mineral Resources was first reported by the Company to the ASX on 14 November 2017, 18 December 2017, 5 April 2018, 12 April 2018, 29 May 2018, 20 June 2018, 6 February 2019 and 21 March 2019. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements, and in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons' findings are presented have not been materially modified from the original market announcements.

Disclaimer:

Forward-looking statements are statements that are not historical facts. Words such as “expect(s)”, “feel(s)”, “believe(s)”, “will”, “may”, “anticipate(s)”, “potential(s)”and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to statements regarding future production, resources or reserves and exploration results. All of such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include, but are not limited to: (i) those relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits and conclusions of economic evaluations, (ii) risks relating to possible variations in reserves, grade, planned mining dilution and ore loss, or recovery rates and changes in project parameters as plans continue to be refined, (iii) the potential for delays in exploration or development activities or the completion of feasibility studies, (iv) risks related to commodity price and foreign exchange rate fluctuations, (v) risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals or in the completion of development or construction activities, and (vi) other risks and uncertainties related to the Company’s prospects, properties and business strategy. Our audience is cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof, and we do not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.

COMPETENT PERSON STATEMENT

The information in this announcement that relates to exploration targets and exploration results is based on information compiled by Jane Allen a competent person who is a member of the AusIMM. Jane Allen is employed by Calidus Resources Limited. Jane has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 edition of the JORC Code. Jane Allen consents to the inclusion in this announcement of the matters based on her work in the form and context in which it appears.

The information in this report that relates to Klondyke, Copenhagen and Coronation Mineral Resources is based on information compiled or reviewed by Mr. Lynn Widenbar, Principal Consultant of Widenbar and Associates Pty Ltd., who is a Member of the AusIMM and the AIG. Mr. Lynn Widenbar is a full-time employee of Widenbar and Associates Pty Ltd. and has sufficient experience, which is relevant to the style of mineralisation and types of deposit under consideration and to the activities undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code of Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr. Lynn Widenbar consents to the inclusion of the report of the matters based on the information in the form and context in which it appears.

For further information please contact:

Dave Reeves Managing Director

[email protected]

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CALIDUS RESOURCES & SUBSIDAIRIES TENEMENT SCHEDULE

Tenement ID Holder Size (ha) Renewal Ownership/

Interest GRANTED E45/4856 Keras (Pilbara) Gold Pty Ltd 2,554.05 20/05/2023 100% E45/4857 Keras (Pilbara) Gold Pty Ltd 14,681.95 20/05/2023 100% E45/3615 Keras (Pilbara) Gold Pty Ltd 3,513.73 22/11/2020 100% E45/4236 Keras (Pilbara) Gold Pty Ltd 958.25 19/10/2019 100% E45/4905 Keras (Pilbara) Gold Pty Ltd 638.86 29/11/2022 100% E45/4906 Keras (Pilbara) Gold Pty Ltd 319.46 29/11/2022 100% E45/5178 Keras (Pilbara) Gold Pty Ltd 6,067.13 22/11/2023 100% E45/4555 Epminex WA Pty Ltd 1,917.75 1/03/2022 100% M45/0521 Keras (Pilbara) Gold Pty Ltd 18.11 10/03/2034 100% M45/0547 Keras (Pilbara) Gold Pty Ltd 17.72 2/05/2035 100% M45/0552 Keras (Pilbara) Gold Pty Ltd 9.71 18/01/2035 100% M45/0668 Keras (Pilbara) Gold Pty Ltd 242.05 28/12/2037 100% M45/0669 Keras (Pilbara) Gold Pty Ltd 101.95 28/12/2037 100% M45/0670 Keras (Pilbara) Gold Pty Ltd 113.10 29/12/2037 100% M45/0671 Keras (Pilbara) Gold Pty Ltd 118.65 29/11/2037 100% M45/0672 Keras (Pilbara) Gold Pty Ltd 116.20 1/08/2037 100% M45/0679 Keras (Pilbara) Gold Pty Ltd 121.30 8/04/2038 100% M45/0682 Keras (Pilbara) Gold Pty Ltd 235.95 17/04/2038 100% M45/0240 Keras (Pilbara) Gold Pty Ltd 6.07 17/11/2028 100% Applications E45/5374 Keras (Pilbara) Gold Pty Ltd 22,018.45 APPLICATION 100%

P45/3065 Keras (Pilbara) Gold Pty Ltd 29.45 APPLICATION 100%

Option to Acquire E45/4843 Epminex WA Pty Ltd 942.15 2/07/2022 50%

E45/5172 Epminex WA Pty Ltd 5,115.94 APPLICATION 0% Joint Venture E45/3381 Beatons Creek Gold Pty Ltd 7,965.63 16/03/2021 Earning to 70% E45/4666 Beatons Creek Gold Pty Ltd 3,163.98 23/11/2021 Earning to 70% E45/4622 Beatons Creek Gold Pty Ltd 4,222.07 4/05/2022 Earning to 70% E45/4194 Grant's Hill Gold Pty Ltd 1,278.29 14/07/2019 Earning to 70% E45/4934 Beatons Creek Gold Pty Ltd 1,596.99 22/01/2023 Earning to 70% P45/2781 Beatons Creek Gold Pty Ltd 2.42 10/06/2020 Earning to 70%