Artemis Resources : Purdy's Reward Moves Toward 100,000T Sampling

29 May 2019

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ATY : FRANKFURT

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Base, Battery and Precious

Metals

ARTEMIS RESOURCES LIMITED IS AN AUSTRALIAN MINERAL DEVELOPER ADVANCING ITS WEST PILBARA BASE METALS, BATTERY AND PRECIOUS

METALS ASSETS TOWARDS PRODUCTION.

ARTEMIS HAS CONSOLIDATED A MAJOR LAND HOLDING IN THE WEST PILBARA AND IS THE 100% OWNER OF THE RADIO HILL OPERATIONS AND

PROCESSING INFRASTRUCTURE, STRATEGICALLY LOCATED 30 KM FROM THE CITY OF KARRATHA, THE POWERHOUSE OF THE PILBARA.

WANT TO KNOW MORE ABOUT

ARTEMIS?

Please Contact:

Edward Mead - Executive Director

1. [e-mail]
   P : [phone]

David Tasker - Media Advisor

1. [e-mail]
   P : [phone]

Or visit the Artemis Website .

Artemis Resources Limited

ARBN: 80 107 051 749

Suite1, 11 Ventnor Ave,

West Perth WA,

Australia, 6005

P : [phone]

E : [e-mail] Web : www.artemisresources.com.au

ASX / MEDIA ANNOUNCEMENT

PURDY'S REWARD MOVES TOWARD 100,000T SAMPLING

Completion of Mineralisation Report with Gold Grade Estimation

Strategy Outlined by Novo Resources

HIGHLIGHTS

• A mineralisation report has been completed which will be used to gain approvals for the large sampling of up to 100,000 tonnes in total.
• Mechanical ore sorting to assist with grade estimation is being trialed by Novo at their Beatons Creek and Egina Projects, and which could be mirrored at Purdy's Reward and Comet Well once the system is operational.
• Exploration including mapping, diamond drilling and bulk samples where appropriate, to continue to the north east of Purdy's Reward during the 2019 winter field season.
• Once all DMIRS approvals and Ministerial consent are received, and the mechanical ore sorter is operational, large sampling can initially be undertaken at two proposed locations at Purdy's Reward.

Artemis Resources Limited("Artemis" or "the Company") (ASX:ARV, Frankfurt: ATY, US OTCQB: ARTTF) is pleased to provide the following update by Novo Resources Corp. ("Novo") on the Purdy's Reward Conglomerate Gold Project.Novo is the manager of this project under the 50/50 Artemis - Novo Joint Venture arrangements. Purdy's Reward is located south of Karratha in the Western Pilbara Region of Western Australia.

Artemis' Non-executive Chairman Sheik Maktoum commented:

"I am pleased that after a focus on baseline studies and approvals towards mining, that Novo will recommence on ground exploration to verify the potential continuation of the gold bearing conglomerates.

The work program has the potential to significantly increase the value of Purdy's Reward."

Artemis' Executive Director Ed Mead, commented:

"Novo is utilising advances in computer processing and mechanical ore sorting technology to allow the concentration and estimation of grade from sufficiently large volumes, to then generate resources and economic models. This process derives from the traditional sampling, grade estimation and geostatistical principles, just on a significantly larger scale.

We look forward to working with Novo to advance the conglomerate gold story and the holistic approach Novo is taking on all their gold projects, which can be mirrored at Purdy's Reward, to unlock the path forward on conglomerate gold."

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The relevant parts of the Novo news release (including figures) published on the TSX-V May 28, 2019 are shown below, with the addition of the JORC 'Table 1' appended to this release to comply with ASX requirements. Some parts of the Novo release have been removed as they do not conform to Artemis's ability to JORC. Novo's release can be read in full on its website. Artemis does not have an interest in the Comet Well tenement, but information is retained in the release as it pertains to the same geological system and holistic approach Novo is taking to advance conglomerate hosted gold deposits.

KARRATHA GOLD PROJECT UPDATE

COMPLETION OF MINERALIZATION REPORT AND OUTLINE OF FUTURE WORK

VANCOUVER, BC, May 28, 2019- Novo Resources Corp. ("Novo" or the"Company") (TSX-V: NVO; OTCQX: NSRPF) is pleased to announce completion of a mineralization report and an outline of future work at its Karratha Gold Projects, Western Australia.

Novo's recent geological mapping has successfully extended the known semi-continuous conglomerate trend over a distance of approx. 10 km at the Karratha Gold Project, approximately 2 km longer than previously recognized. In addition to conglomerate gold mineralization, reconnaissance mapping has extended a previously identified basement gold zone at East Well, yielding high grade rock chip samples from quartz veining (Figure 1).

Figure 1: Comet Well and Purdy's Reward tenement map showing mapping areas and East Well basement anomaly. Grades

presented are not necessarily representative of mineralization at East Well.

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It is well understood that delivering a conventional mineral resource at the Karratha Gold Project is challenging owing to the extremely nuggety nature of the deposit. Accordingly, Novo has worked closely with independent experts (Mr Ian Glacken, Director of Geology at Optiro Ltd and sampling and geometallurgical expert, Dr Simon Dominy) to ensure the Company's QA/QC processes and sample collection methodologies are sufficiently robust to underpin this mineralization report. Development of this mineralization report has become a guiding discipline to ensure Novo can pursue a mining lease application as well as update its NI 43-101 technical report for the Karratha Gold Project.

This mineralization report details the geology and exploration recently carried out by Novo in this area, including diamond drilling, bulk sampling, detailed mapping and 3D model building and has confirmed the existence of significant coherent gold mineralization. Of critical importance, it further identifies areas amenable to large-scale bulk sampling, necessary for confirming gold grades across a broader area from this highly nuggety deposit

Geology and Mineralization

The main focus of the mineralization report is to coalesce all geological information gleaned thus far and can be broadly summarized as follows:

The occurrence and geological setting of a unique style of gold mineralization has been delineated across Comet Well and Purdy's Reward (50% Joint Venture with Artemis Resources Limited). The mineralization comprises generally coarse gold, which is predominantly present as 'melon seed' nuggets, together with finer gold particles found almost exclusively within haloes around many of the nuggets. Gold is hosted mainly in conglomeratic rocks of various types, predominantly related to two predictable geological horizons that can be mapped.

The majority of mineralization of this type has been identified on the Comet Well and Purdy's Reward tenements, but this generally coarse-grained conglomerate style of gold mineralization has been discovered over a wide spatial area in the Western and Northern Pilbara by Novo and other explorers, indicating the potential of the region as a significant new gold camp.

A series of bulk samples taken to date (initially approximately 300 kg samples at Purdy's starting in 2017 and approximately 5 tonne samples from Comet Well during 2018 exploration activities) (please see the Company's news releases dated May 31 and October 26, 2018 - http://novoresources.com/news-media/news/), with significant gold mineralization demonstrated along the 2 km exposed strike length on the Comet Well and Purdy's Reward leases.

Project Development Strategy and Future Work

The project development strategy proposed for Comet Well and Purdy's Reward closely mirrors that at Novo's Beatons Creek Gold Project, approximately 350 km east of Karratha, which recently culminated in the granting of mining leases. The nuggety nature of gold in conglomerates at Beatons Creek required utilization of 50-kg 'bulk' samples to augment traditional exploration and sampling techniques. Following these small-scale bulk samples, a large-scale bulk sampling exercise consisting of around 30,000 tonne of gold bearing material was excavated and 9,680 tonnes processed to confirm grades. A key difference between Beatons Creek and Comet Well-Purdy's Reward is that Comet Well-Purdy's Reward exhibits much larger gold nuggets, requiring a substantially larger sample (of the order of 100,000 tonnes) to adequately assess gold grade. The coarse nature of the mineralisation also requires development of a tailored grade control regime and processing flowsheet that ensures successful definition of bulk sample grades.

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Future Work:

Planned work at Comet Well and Purdy's Reward includes:

• Ongoing field work - including mapping, drilling, bulk sampling as appropriate
• • Development of a tailored grade control methodology suitable for the style of mineralization as conventional grade control techniques of drilling and assaying are unlikely to yield reliable outcomes at Comet Well / Purdy's and cannot be used to guide alarge-scale bulk sampling process.
• Grade control
• • Mechanical sorters represent a possible technical breakthrough that may assist in a more accurate determination of gold grade. The scanning devices used in mechanical sorters 'see' gold content within rocks but rely upon algorithms that count pixels of gold mineralization to identify individual rocks for sorting (please see Figure 2 below from the Company's news release dated November 19, 2018 -http://novoresources.com/news-media/news/display/index.php?content_id=331). By processing individual truck-loads, the number of gold pixels for a given sample can potentially act as a proxy to reconcile the gold grade from each load, deriving grade and thereby producing a 3D field model of gold distribution.

Figure 2: Left, pieces of concentrate with exposed gold nuggets. Right, X-Ray image of concentrate with red arrows pointing to dense particles of matter, black, embedded in rock. Gold mineralization in this Figure is not necessarily representative of the mineralization hosted on the relevant property.

• Determine appropriate processing solution
• • The solution identified above for grade control (mechanical sorting) is being investigated as a basis for processing of alarge-scale bulk sample and offers the benefits of being chemical and water free, mobile and of low capital intensity. There remain some technical challenges to processing the entire sample with mechanical sorters, however Novo is making significant progress in addressing these challenges.
• Submit Program of Works approval for a circa 100,000 tonnelarge-scale bulk sample to the Department of Minerals, Industry Regulation and Safety.
• Once approval is achieved from the DMIRS, undertake alarge-scale bulk sampling program to confirm representative gold grades over a larger area and demonstrate an effective grade control regime
• • Sample representivity is an iterative process - gold particle size distribution must first be known in order to apply statistical analysis to estimate a representative sample size. It has been recognized that Novo's

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bulk sampling to date (300 kg - 5,000 kg) yields indicative gold grades only and that substantially larger samples are required to produce a representative grade.

• Benefiting from geological understanding gained through exploration activities, a series of prioritized locations for larger scale bulk sampling have been identified using the following criteria:
• • located within the approved exploration license or proposed mining lease areas;
  • located within the approved disturbance zone from a Native Title Heritage perspective;
  • close to the surface to minimize the cost and complexity of excavation;
  • near to previous geological sampling (bulk sampling or drilling) to provide increased geological certainty; and
  • in areas of suitable topography to allow relatively simple access, operation and remediation.

Figures 3, 4, and 5 depict five areas identified as amenable for large-scale bulk sampling across the Comet Well and Purdy's Reward project areas. A nominal 100,000 tonnes of sampled material, in total, is envisioned to be of a sufficient sample size to ascertain the representative indicative grade of mineralization across the project.

• Timing for undertaking thelarge-scale bulk sample is contingent upon resolving technical challenges with mechanical sorting technology and approval to take a 100,000 tonne sample. Potential solutions will be trialed during this 2019 field season at Egina, where Novo plans to process a number of large samples (each circa 100 tonnes).

"I am very pleased with the progress made to date at the Karratha Gold Project," commented Rob Humphryson, CEO and Director of Novo. "To their credit, the Novo team has managed to overcome significant technical challenges presented by this unique nuggety gold system with a combination of innovative thinking and sheer hard work. Novo met a similar challenge at Beatons Creek where it recently announced a sizeable gold resource. We see the path at Karratha following a similar path with a component of mechanical sorting being critical to success. Working on conglomerate gold mineralization requires an iterative approach. We think work we will be doing at Egina this year will play a part in helping us advance the Karratha Gold Project."

Dr. Quinton Hennigh, P. Geo., the Company's, President, Chairman, and a Director, and a qualified person as defined by National Instrument 43-101, has approved the technical content of this news release.

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Figure 3: Location of amenable large-scale bulk sampling areas as yellow squares. Cross sections A'-A" and B'-B" shown in this

figure are depicted in Figures 4 and 5 below.

Figure 4: Example cross-section showing the bulk sample results (see Table 1 for bulk sample details) and target gold horizons at Comet Well, with an indicative pit geometry hatched. Grades presented are not necessarily representative of mineralization at East Well.

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Figure 5: Example cross-section showing the bulk sample results (see Table 1 for bulk sample details) and target gold horizon

at Purdy's Reward, with an indicative pit geometry hatched. Grades presented are not necessarily representative of

mineralization at East Well.

	Project			Sample ID			Easting (mE)			Northing (mN)			RL (m)			Tonnage (kg)			Grade
													(g/t Au)
	Purdy's Reward		KX223	501720.6		7676301.1		87.9		3782.5		4.48
	(50% Artemis)		KX246	501741.3		7676177.5		77.4		1004.0		2.50
	Comet Well		KX157	500468		7675349		85		7143.5		10.4
		KX167	500535		7675273		90		3471.5		0.30
	(Artemis has no
	interest)
		KX171	500685		7675199		80		4961.0		1.25

Table 1: Bulk sample results relevant to example cross sections in Figures 4 and 5, which are the locations for proposed large sampling.

COMPETENT PERSONS STATEMENT

The information in this document that relates to Exploration Results and Exploration Targets is based on information compiled or reviewed by Edward Mead, who is a Member of the Australasian Institute of Mining and Metallurgy. Mr Mead is a Director of Artemis Resources Limited and is a consultant to the Company, and is employed by Doraleda Pty Ltd. Mr Mead has sufficient experience that 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'. Mr Mead consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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JORC Code, 2012 Edition - Table 1

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections.)

	Criteria		JORC Code explanation		Commentary
	Sampling techniques	•Nature and quality of sampling (eg cut channels,	•The Competent Person is of the
			random chips, or specific specialised industry	opinion that a bulk sampling
			standard measurement tools appropriate to the	approach is suited to sampling the
			minerals under investigation, such as down hole	highly nuggety gold distribution
			gamma sondes, or handheld XRF instruments,	occurring at the Purdy's Reward
			etc). These examples should not be taken as	project, and that the sampling,
			limiting the broad meaning of sampling.	analysis and quality control has
			•Include reference to measures taken to ensure	been completed in an appropriate
			sample representivity and the appropriate	manner.
			calibration of any measurement tools or systems	•Trenches, when allowable are
			used.	excavated to the conglomerate
			•Aspects of the determination of mineralisation that	basal unconformity in which the
			are Material to the Public Report.	highest Gold concentration is
			•In cases where 'industry standard' work has been	known to occur.
			done this would be relatively simple (eg 'reverse	•Geology is mapped and the trench
			circulation drilling was used to obtain 1 m samples	faces is labelled and divided by
			from which 3 kg was pulverised to produce a 30 g	geology breaks.
			charge for fire assay'). In other cases more	•A collar point is collected via an
			explanation may be required, such as where there	onsite trimble.
			is coarse gold that has inherent sampling	•Sampling of face wall is divided by
			problems. Unusual commodities or mineralisation	geological units and or metre
			types (eg submarine nodules) may warrant	intervals. Face samples are to
			disclosure of detailed information.	have a minimum interval of 30cm
			•Measures taken to ensure that the sampling is	and a maximum interval of 1m.
			representative of the in situ material collected,	•Once on the basal unconformity a
			including for instance results for field	30cm deep lateral sample is
			duplicate/second-half sampling.	collected until the 200L drum is
			•Whether sample sizes are appropriate to the grain	full.
			size of the material being sampled.	•Drums are then sealed with a
						unique security seal which is
						matched up with the drums
						sample ID.
						•Each face sample is treated like a
						vertical drill hole in the database.
						•Diamond drill core was cut in half
						with a diamond bladed core saw
						and sample at nominal 1 metre
						interval, or to lithological contacts
	Drilling techniques	•Drill type (eg core, reverse circulation, open-hole	•Diamond drilling has been
			hammer, rotary air blast, auger, Bangka, sonic,	undertaken by Orlando drilling and
			etc) and details (eg core diameter, triple or	Teramin drilling.
			standard tube, depth of diamond tails, face-	•Diamond drilling is PQ.
			sampling bit or other type, whether core is oriented
			and if so, by what method, etc).
	Drill sample recovery	•Method of recording and assessing core and chip	•Diamond drilling recovery has
			sample recoveries and results assessed.	generally been excellent and close
			•Measures taken to maximise sample recovery and	to 100%.
			ensure representative nature of the samples.
			•The core is measured against core
			•Whether a relationship exists between sample
			blocks placed at the end of each
			recovery and grade and whether sample bias may
			drill rod pull.
			have occurred due to preferential loss/gain of
			fine/coarse material.
	Logging	•Whether core and chip samples have been	•Trench geology is mapped and
			geologically and geotechnically logged to a level of	the trench faces is labelled and
			detail to support appropriate Mineral Resource	divided by geology breaks
			estimation, mining studies and metallurgical	appropriate for Mineral Resource
			studies.	estimation.
			•Whether logging is qualitative or quantitative in	•Diamond core is lithologically
			nature. Core (or costean, channel, etc)	logged.
			photography.	•Alpha and beta angles are
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	Criteria	JORC Code explanation		Commentary
		•The total length and percentage of the relevant		measured from the orientated
		intersections logged.		core.
	Sub-sampling techniques and	•If core, whether cut or sawn and whether quarter,		•The bulk trench samples are dry.
	sample preparation	half or all core taken.		•Research into sample size analysis
	•If non-core, whether riffled, tube sampled, rotary		is continuing with samples originally
		split, etc and whether sampled wet or dry.
			starting at 300kg and progressing in
		•For all sample types, the nature, quality and
			size up to 5 tonnes per sample being
		appropriateness of the sample preparation
			collected to	allow	consultants to
		technique.
			determine parameters. Samples up
		•Quality control procedures adopted for all sub-
		sampling stages to maximise representivity of		to 50-100 tonnes are now proposed.
		samples.		•Diamond core is cut in half with a
				diamond bladed core saw.
				Due to the gold distribution and
				nuggetty	nature	of	gold
				mineralization, the sample size is not

large enough to reflect actual gold grades.

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 factors applied and their derivation, etc.
• Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.

• Bulk samples are sealed in steel drums and transported to Nagrom Metallurgical Laboratory (Perth).
• Processing of samples will be in line with the procedure developed; see
  Novo's news release dated August 31, 2017
• Bulk samples derived from trenches and large diameter reverse circulation ("RC") drilling will be crushed to-60 mm (P100) and dry screened at 10 mm and 2 mm.
• The +10 mm and2-10 mm fractions will be fed through the Steinert XSS T sorting machine to generate a

concentrate	of	rock	particles
containing	coarse	gold	("sorted
concentrate") and	tailings	("sorted
tailings").		The sorted

concentrate will be crushed to -2mm (P100) and subjected to intense CN leaching and analysis. Tailings from intense CN leaching will subjected to metallic screen fire assay to ensure no loss of gold. The gold content of

the sorted	concentrate will	be
determined	by	mathematically

combining the Au recovered by CN leaching with residual gold detected by metallic screen fire assay.

• Sorted tailings will be crushed to-2 mm (P100) and recombined with any -2 mm material generated during initial screening. A 30 kg split of -2 mm material will be taken and
  pulverized to -75 microns (P95). Three, 1 kg splits of the pulverized material will be subjected to intensive CN leaching and analysis. A weighted average grade of these three analyses will

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Criteria

JORC Code explanation

Commentary

constitute the sorted tailings grade.

•

A final bulk sample grade will be

calculated

by

mathematically

combining

the sorted

concentrate

grade and the sorted tailings grade.

•

Diamond core analysis is by Intertek

Genalysis (Perth).

•

The laboratory techniques below are

for all samples submitted to

Genalysis

and

are

considered

appropriate for the style of

mineralisation

defined

within the

Purdy's Reward Project area:

•Crush to -2 mm and pulverise

to 95% passing 75 microns

•1,000 gram CN-leach digestion

with MS finish -

Au.

•4 Acid Digest ICP-AES Finish

(4A-MS48) - Including Ag, Al,

As, Ba, Be, Bi, Ca, Cd, Co, Cr,

Cu, Fe, Ga, K, La, Mg, Mn, Mo,

Na, Ni, P, Pb, S, Sb, Sc, Sr, Th,

Ti, Tl, U, V, W, Zn.

•

Standards were used for external

laboratory checks by Novo.

Duplicates were used for external

laboratory checks by Novo.

Verification of sampling

•

The verification of significant intersections by

•

All geological logging has been

and assaying

either independent or alternative company

entered in appropriate databases.

personnel.

•The use of twinned holes.

•Documentation of primary data, data entry

procedures, data verification, data storage

(physical and electronic) protocols.

•Discuss any adjustment to assay data.

Location of data points

•

Accuracy and quality of surveys used to locate drill •

Sample

sites

are

georeferenced

holes (collar and down-hole surveys), trenches,

using differential GPS.

mine workings and other locations used in Mineral

•

The

grid

system

used for

Novo

Resource estimation.

Resources drilling is GDA94 (MGA

•Specification of the grid system used.

94 Zone 50)

•Quality and adequacy of topographic control.

•

Topographic

control

was obtained

from

surface

profiles

Digital

Elevation

Models

and

differential

GPS traverses, and is adequate for

control.

Data spacing and distribution

•

Data spacing for reporting of Exploration Results.

•

Current trench spacing is irregular.

•

Whether the data spacing and distribution is

•

Diamond

drill

holes

have

been

sufficient to establish the degree of geological and

completed on a nominal 50 metre by

grade continuity appropriate for the Mineral

50 metre grid in the core target area

Resource and Ore Reserve estimation

and further spaced away from this.

procedure(s) and classifications applied.

•Whether sample compositing has been applied.

Orientation of data in relation

•

Whether the orientation of sampling achieves

•

Trenches were located in order to

to geological structure

unbiased sampling of possible structures and the

intersect

the

target

the geological

extent to which this is known, considering the

formation of interest.

deposit type.

•

Until

bulk

sampling

and

size

•

If the relationship between the drilling orientation

distribution analysis is completed it is

and the orientation of key mineralised structures is

unknown

if

any

sampling

biases

considered to have introduced a sampling bias,

have been introduced.

this should be assessed and reported if material.

•

Diamond

drill

holes

have

been

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	Criteria	JORC Code explanation	Commentary
			drilled	vertically	into	the
			conglomerate layer which dips at a
			shallow angle. All lithological units
			intersected in drill holes are near true
			widths.
	Sample security	•The measures taken to ensure sample security.	•Sealed	bulk sample	drums	have
			dispatched by Novo representatives

to Nagrom Laboratories for testing.

•Diamond core samples were dispatched by Novo to Genalysis.

Audits or reviews	•The results of any audits or reviews of sampling
	techniques and data.

• Data is validated uponup-loading into the master database. Any validation issues identified are investigated prior to reporting of results.

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section.)

	Criteria	JORC Code explanation	Commentary
	Mineral tenement and land	•Type, reference name/number, location and	•Purdy's	Reward	project is on
	tenure status	ownership including agreements or material		E47/1745 - 50% owned by Artemis
		issues with third parties such as joint ventures,		Resources Ltd. 50% by Novo
		partnerships, overriding royalties, native title		Resources Corp.
		interests, historical sites, wilderness or	•	The tenement is part of	a Joint
		national park and environmental settings.		Venture with Novo being the
		•The security of the tenure held at the time of		Manager and Operator.
		reporting along with any known impediments	•This tenement is in good standing
		to obtaining a licence to operate in the area.		and no known impediments exist
				(see map provided in this report for
				location).
	Exploration done by other	•Acknowledgment and appraisal of exploration	•	Previous	gold exploration	activities
	parties	by other parties.		by Artemis were restricted to
				orientation soil and stream sediment
				sampling, with bulk sampling using
				mini-excavators and metal detectors
				to identify the precise position of the
				source geological units of the coarse
				nugget gold.
			•Novo Resource Corp, through the
				Joint Venture on Purdy's Reward,
				have completed:
			•169 diamond drill holes which have
				been stratigraphically logged.
			•A number of trenches have been
				excavated to map the geology.
			•Reported gold assay results from 12
				bulk sample results
	Geology	•Deposit type, geological setting and style of	•	The	deposit	is	inferred	to be a
		mineralisation.		sedimentary-hosted gold deposit,
				with strong affinities to the
				Witwatersrand style, given the early
				stage	of	investigation	specific
				aspects of the deposit are unknown
				or speculative.
	Drill hole Information	•A summary of all information material to the	•Trenches and drill holes are being
		understanding of the exploration results		picked up with a differential GPS.
		including a tabulation of the following
		information for all Material drill holes:

oeasting and northing of the drill hole collar oelevation or RL (Reduced Level - elevation

above sea level in metres) of the drill hole

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	Criteria	JORC Code explanation		Commentary
		collar
		odip and azimuth of the hole
		odown hole length and interception depth
		ohole length.
		•If the exclusion of this information is justified
		on the basis that the information is not Material
		and this exclusion does not detract from the
		understanding of the report, the Competent
		Person should clearly explain why this is the
		case.
	Data aggregation methods	•In reporting Exploration Results, weighting		•Data is aggregated based on
		averaging techniques, maximum and/or		volumes and density for trenching to
		minimum grade truncations (eg cutting of high		report tonnes.
		grades) and cut-off grades are usually Material		•Drilling is aggregated on length of
		and should be stated.		drill core to report metres
		•Where aggregate intercepts incorporate short		•Rock chip samples are aggregated
		lengths of high-grade results and longer		by kilograms to report grams.
		lengths of low-grade results, the procedure
		used for such aggregation should be stated
		and some typical examples of such
		aggregations should be shown in detail.
		•The assumptions used for any reporting of
		metal equivalent values should be clearly
		stated.
	Relationship between	•These relationships are particularly important		•A better understanding of the deposit
	mineralisation widths and	in the reporting of Exploration Results.		geometry will be achieved on
	intercept lengths	•If the geometry of the mineralisation with		thorough interpretation of the data.
		respect to the drill hole angle is known, its		True thicknesses may be reported at
		nature should be reported.
			a later date if warranted.
		•If it is not known and only the down hole
			Due to	the	moderately	to	flatly
		lengths are reported, there should be a clear
			dipping	nature of	the mineralised
		statement to this effect (eg 'down hole length,
			zones,	it is	expected	that	true
		true width not known').
			thicknesses	will	approximate	the
				reported down-hole thicknesses
	Diagrams	•Appropriate maps and sections (with scales)		•Appropriate maps and sections are
		and tabulations of intercepts should be		available in the body of this
		included for any significant discovery being		announcement.
		reported These should include, but not be
		limited to a plan view of drill hole collar
		locations and appropriate sectional views.
	Balanced reporting	•Where comprehensive reporting of all		•Reporting of results in this report is
		Exploration Results is not practicable,		considered balanced.
		representative reporting of both low and high
		grades and/or widths should be practiced to
		avoid misleading reporting of Exploration
		Results.

Other substantive	•Other exploration data, if meaningful and
exploration data	material, should be reported including (but not
	limited to): geological observations;
	geophysical survey results; geochemical
	survey results; bulk samples - size and
	method of treatment; metallurgical test results;
	bulk density, groundwater, geotechnical and
	rock characteristics; potential deleterious or
	contaminating substances.

• Exploration by diamond drilling, trenching and bulk sampling has been completed by Novo Resources Corp on their Comet Well Project, which is contiguous to
  Purdy's Reward.
• Novo Resources Corp has referred to Comet Well and Purdy's Reward as part of the same geological sequence.
• The interpretation by Novo Resources Corp relates to information on Purdy's Reward that was released to the ASX on 22 February 2018 "High Grade Gold Results from Purdy's Reward" and contained in the JORC Table 1 of that release.
• These results from Purdy's Reward and Comet Well for the basis for

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	Criteria		JORC Code explanation		Commentary
						comments by Novo Resources
						Corp about strike and continuation
						of mineralisation.
	Further work		•The nature and scale of planned further work		•	Mapping and exploration are to
			(eg tests for lateral extensions, depth			continue to the northeast.
			extensions or large-scalestep-out drilling).		•	Diamond	drilling/Coring	for
			•Diagrams clearly highlighting the areas of			stratigraphy.
			possible extensions, including the main		•Bulk sampling of conglomerate to be
			geological interpretations and future drilling			undertaken as appropriate.
			areas, provided this information is not		•Application	for excess tonnage	for
			commercially sensitive.			sampling up to 100,000 tonnes

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