Quarterly Activities Report to September 2020 & Appendix 5B

29 October 2020

Quarterly Activities Report to 30 September 2020

  • Well oversubscribed $10.2 million equity raising completed with new strategic North American cornerstone investor Crescat Capital LLC joining the register.
  • Agreement executed with Ausino Drilling Services to support the provision of drilling services into South Korea to the value of US$4.4 million (A$6.2 million).
  • Deokon Project (SAU 100%): 105.29m of diamond drilling completed at 'Shin Hill", with peak assay result of 0.57m @ 2.56g/t Au and 453g/t Ag from 101.71m.
  • Weolyu Project (SAU 100%): Diamond drilling commenced targeting the 'Moonlight-Surprise" trend, with the first hole completed to 340.06m.
  • Aphae Project (SAU 100%): Assays received from diamond drilling including 0.21m @ 107.5g/t Au and 166g/t Ag in APDD004, 8.12m @ 1.26g/t Au and 7.8g/t Ag in APDD001, and 40.72m @ 0.59g/t Au and 14.1g/t Ag in APDD003.
  • Dokcheon Project (SAU 100%): Regulatory approvals received for scout drilling programme set to commence in the coming quarter.
  • Janghwal Project (SAU 100%): Historical mining adit discovered with a grab sample returning 6.7g/t Au.
  • Gubong and Kochang Project JV (SAU 50%): Sale of joint venture interest is in progress with a price to be determined by an independent expert.

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Quarterly Activities Report to September 2020 & Appendix 5B