Gold Road Resources : Yamarna Exploration Update

ASX Announcement

19 December 2019

YAMARNA EXPLORATION UPDATE

ASX Code GOR

Mid‐tier gold producer and exploration company Gold Road Resources Limited (Gold Road) reports positive diamond and reverse circulation (RC) assay results (Figure 1 and Table 1) from recent exploration programmes.

Highlights

CENTRAL PROJECT AREA

Gruyere JV (50% Gold Road) - Milestone 4

Extensional diamond drilling is complete at Gruyere. The results enable the potential conversion of Inferred to Indicated Mineral Resource below the current Ore Reserve pit design, which will support the optimisation of the mine plan and placement of infrastructure. Final assay results received are generally in line with or exceeding expectation and better results included:

• 149.6 metres at 1.46 g/t Au from 437.4 metres (19GY0363)1
• 91.2 metres at 1.47 g/t Au from 275.7 metres (19GY0354)
• 41.4 metres at 2.52 g/t Au from 372.3 metres (19GY0365)
• 159.5 metres at 1.25 g/t Au from 418.9 metres (19GY0361)

SOUTHERN PROJECT AREA

Warbler ‐ Yaffler South ‐ Milestone 3

Follow‐up diamond and RC drilling confirmed continuity and geometry immediately north and south of high‐grade mineralisation. Notable intersections include:

• 13 metres at 1.98 g/t Au from 56 metres (19YFRC0022), including 8 metres at 2.75 g/t Au from 61 metres
• 18 metres at 1.33 g/t Au from 18 metres (19YFRC0023), including 2 metres at 5.61 g/t Au from 34 metres

ABN 13 109 289 527

COMPANY DIRECTORS

Tim Netscher

Chairman

Duncan Gibbs

Managing Director & CEO

Justin Osborne

Executive Director,

Discovery & Growth

Brian Levet

Non-Executive Director

Sharon Warburton

Non-Executive Director

Carol Marinkovich

Company Secretary

CONTACT DETAILS

Principal & Registered Office Level 2, 26 Colin St

West Perth WA 6005

www.goldroad.com.au

[e-mail]

T [phone]

F [phone]

Morello ‐ Rocha and Fortuna - Milestone 2

Follow‐up RC drilling was completed and identified broad zones of low‐grade mineralisation.

Gold Road Executive Director ‐ Discovery & Growth Justin Osborne commented: "We are pleased to have finished the 2019 exploration programme. We are confident the excellent results from the Gruyere extensional drilling will have a positive impact on the next Mineral Resource update anticipated in early 2020. We are in the process of reviewing the results from our ongoing Yamarna exploration which confirmed gold mineralisation in multiple locations. The work completed this year confirmed our belief in the Southern Project Area as having the greatest prospectivity. We anticipate the majority of the 2020 exploration budget will be focussed on this area with drilling scheduled to commence in January on our reranked high priority targets.

• Diamond and RC intersections for Gruyere reported as geologically selected, other projects reported at a 0.5 g/t cut‐off including up to 2 metres of samples below that cut‐off unless otherwise stated. Refer to Tables in Appendices for individual grades >10 g/t Au. All intersections reported uncut.

Figure 1: Map showing selected diamond and RC drill results from across the Yamarna tenements. Refer to "About Gold Road" section for

explanation of the Project Pipeline and Milestones used by Gold Road for managing exploration success

Page 2 of 23

Gruyere JV (50% Gold Road)

Gruyere Mine Exploration

An expanded 11,000 metre diamond and RC drilling programme (Figure 2) designed to extend the Indicated Resource below the current Ore Reserve pit design and delineate the limits of mineralisation at the southern and northern extremities of the Gruyere Deposit is now complete.

Assays from the final 15 holes of a total 21 hole programme have been received confirming the continuity of the Gruyere mineralisation as observed in the open pit and previous drill programmes. The drill results provide confidence that the Indicated Resource will extend below the limits of the current Ore Reserve pit design allowing for future strategic evaluation and mine optimisation. It is anticipated that an updated Mineral Resource will be reported in early 2020 which will reflect this.

Significant widths at higher than the average Resource grade have been intersected in the northern portion of the Resource, including 41.4 metres at 2.52 g/t Au from 372.3 metres (19GY0365), 47.8 metres at 1.93 g/t Au from

302.1 metres (19GY0343), and 41.7 metres at 1.40 g/t Au from 561.3 metres (19GY0366). These results are all located beyond the current pit design.

Drilling in the central area of the deposit confirmed the consistent wide zones of mineralisation characteristic of Gruyere, with best intercepts of 149.6 metres at 1.46 g/t Au from 437.4 metres, including 102.4 metres at 1.72 g/t Au from 469.8 metres (19GY0363); 159.5 metres at 1.25 g/t Au from 418.9 metres (19GY0361), and 183.0 metres at 0.99 g/t Au from 378.0 metres, including 56.0 metres at 1.67 g/t Au from 468.0 metres (19GY0352).

Figure 2: South to north longitudinal projection (looking west, Gruyere Grid) of the Gruyere Mine illustrating resource categories and

December 2018 Mineral Resource pit shell, final Ore Reserve pit design and selected new drill intersections. Note intercepts rounded to metre width

Page 3 of 23

SOUTHERN PROJECT AREA (100% Gold Road)

Warbler - Yaffler South

The Warbler prospect is defined by a northwest‐southeast striking shear zone situated approximately 300 metres west of the Yaffler South prospect and 20 kilometres along strike on the Yamarna Shear Zone to the south of Gilmour. In August 2019, four RC holes intersected coherent and consistent mineralisation across one traverse on a newly discovered trend. Shallow high‐grade

mineralisation was intersected at the sheared stratigraphic contact between dolerite and intermediate sediments within the regolith and bedrock. All four holes intersected gold mineralisation with the best intersection returning 11 metres at 5.94 g/t Au from 74 metres as previously reported2.

An 11 hole follow‐up RC and diamond drilling programme was completed in the December 2019 quarter on step out section lines between 50 and 100 metres to the north and south of the original discovery traverse. Drilling confirmed continuity, geometry and widths of the mineralisation along strike and down dip at lower grade than the discovery section (Figure 3). Further drilling along this newly identified trend is planned for the first quarter of 2020.

Figure 3: Plan view of Warbler ‐ Yaffler South prospect Area illustrating parallel mineralised trends (red dashed lines),

recent best intersections (yellow) and past intersections (white).

Background detailed 1VD Gravity image from recent gravity survey in progress

• ASX announcement dated 9 September 2019

Page 4 of 23

Morello-Rocha

Results were returned from an RC drilling programme testing the Rocha target at the northern extent of the Morello trend. The target is adjacent to the Rocha Fault, which is the next major structure cross‐cutting and displacing the mineralised Gilmour‐Morello trend 800 metres north of the 260,000 ounce Gilmour Deposit. A broad zone of low‐grade mineralisation indicating the presence of gold

mineralising fluids has been confirmed at Rocha, hosted in the same sandstone unit as Morello. Multiple intersections were encountered which included 10 metres at 3.08 g/t Au from 90 metres (19WDRC0250), 29 metres at 0.38 g/t Au from 80 metres (19WDRC0245) and 28 metres at 0.30 g/t from 151 metres (19WDRC026)3. Ongoing evaluation will be used to target potential follow‐up drilling in 2020.

Fortuna

A first pass RC drill programme was completed on the Fortuna target approximately 1.5 kilometres south of Smokebush. The programme was following up on a coincident arsenic‐antimony geochemical anomaly identified through aircore drilling in the first half of 2019. Zones of low‐level

gold anomalism confirmed a fertile mineralised structure adjacent to, or part of, the regionally significant Smokebush Shear. Geological interpretation is ongoing and will be used to identify further targets in the area for follow‐up drill testing in 2020.

Yamarna Geochemical and Geophysical Programmes

To support the Yamarna geological interpretation and targeting of the next discoveries, Gold Road continued its programme of geochemical sampling and mapping of basement geology through aircore drilling across the Yamarna Greenstone Belt. An EIS co‐funded 13 kilometre aircore traverse testing

stratigraphy in an area that has received little drilling to date was completed. In the Southern Project Area, aircore drilling to aid definition of the regional stratigraphy was completed on the Hopwood, Riviera, Hirono and Grevillea prospects.

Assay results for all completed aircore programmes have been received. Ongoing geological interpretation and targeting of the results will be incorporated into the 2020 exploration programme. The southern project area will continue to be the priority focus for exploration activities in 2020.

During the December 2019 quarter, a large gravity survey covering approximately 1,675 square kilometres to acquire 18,350 data points was completed. This information will improve the resolution of the targeting dataset enabling detailed interpretation of the bedrock geology and deep‐seated geological structures. When used in conjunction with the existing regional aeromagnetic and extensive geochemistry data, the Company can enhance the quality and predictive effectiveness of the ranking and prioritisation of the gold targets to be tested through 2020.

This release was authorised by the Board.

For further information, please visit www.goldroad.com.au or contact:

Gold Road Resources	Media Enquiries - Cannings Purple
Duncan Hughes	Warrick Hazeldine or Peter Klinger
Manager - Corporate Development & Investor	[e-mail] /
Relations	[e-mail]
Tel: [phone]	Tel: [phone] or [phone]

• Reported at a 0.1 g/t cut‐off including up to 4 metres of samples below that cut‐off

Page 5 of 23

Location and Geology of the Yamarna Tenements showing Gold Road's 100% tenements and Gold Road‐Gold Fields Gruyere JV tenements (yellow outline), Mineral Resources, Ore Reserves (100% basis) and selected exploration prospects

About Gold Road

Gold Road Resources Limited is a mid‐tier Australian gold producer with Tier 1 mine and exploration projects in the underexplored and highly prospective Yamarna Greenstone Belt in Western Australia's north‐eastern Goldfields.

Gold Road owns 50% of the world‐class Gruyere gold mine, which was developed in Joint Venture with Gold Fields Ltd (JSE: GFI) and produced first gold in June 2019. Gruyere is forecast to produce on average 300,000 ounces (100% basis) annually for at least 12 years, making it one of Australia's largest and lowest‐cost gold mining operations. Gruyere has Mineral Resources of 5.8 million ounces, including an Ore Reserve of 3.6 million ounces.

Gold Road discovered the world‐class Gruyere deposit in 2013 as part of its pioneering exploration across Yamarna and entered into the Gruyere Gold Project Joint Venture with Gold Fields in 2016. The Gruyere JV includes 144 square kilometres of the Yamarna Belt.

In addition to the Gruyere JV, Gold Road controls 100% of tenements covering >5,000 square kilometres across Yamarna with a Mineral Resource of 0.3 million ounces. Gold Road is executing an industry leading exploration strategy to discover the next multi‐million‐ounce gold deposits at Yamarna.

Gold Road also continues to assess and pursue

other shareholder wealth‐creating opportunities, such as its exploration farm‐in Joint Venture with Cygnus Gold Limited (ASX: CY5) in Western Australia's South West, and Project Generation more widely.

Gold Road uses a staged Project Pipeline approach to manage, prioritise and measure success of the exploration portfolio. Each target is classified by Milestone and ranked using geological and economic criteria. Regular peer review, prioritisation and strategy ensure that the highest quality projects are progressed across all stages of exploration.

Exploration Project Pipeline and Milestones used by Gold Road for managing exploration success

Page 6 of 23

Mineral Resource Estimate - November 2019

			Gruyere Project Joint Venture ‐ 100% basis		Gold Road Attributable
			Tonnes			Grade			Contained		Tonnes			Grade		Contained
	Project Name / Category						Metal					Metal
			(Mt)		(g/t Au)		(Moz Au)		(Mt)		(g/t Au)	(Moz Au)
	Gruyere Total	139.56		1.29		5.78	69.78		1.29		2.89
	Measured	16.44		1.17		0.62	8.22		1.17		0.31
	Indicated	88.53		1.30		3.71	44.26		1.30		1.85
	Measured and Indicated	104.97		1.28		4.32	52.49		1.28		2.16
	Inferred	34.59		1.31		1.46	17.30		1.31		0.73
	Golden Highway + YAM14 Total	15.57		1.46		0.73	7.78		1.46		0.36
	Measured	0.29		1.99		0.02	0.14		1.99		0.01
	Indicated	11.33		1.48		0.54	5.67		1.48		0.27
	Measured and Indicated	11.62		1.50		0.56	5.81		1.50		0.28
	Inferred	3.95		1.33		0.17	1.98		1.33		0.08
	Central Bore	0.24		13.05		0.10	0.12		13.05		0.05
	Measured	‐		‐		‐		‐		‐	‐
	Indicated	‐		‐		‐		‐		‐	‐
	Measured and Indicated	‐		‐		‐		‐		‐	‐
	Inferred	0.24		13.05		0.10	0.12		13.05		0.05
	Total Gruyere JV	155.37		1.32		6.61	77.69		1.32		3.31
	Measured	16.73		1.18		0.64	8.37		1.18		0.32
	Indicated	99.86		1.32		4.25	49.93		1.32		2.12
	Measured and Indicated	116.59		1.30		4.88	58.29		1.30		2.44
	Inferred	38.78		1.39		1.73	19.39		1.39		0.86
	Renegade	‐		‐		‐	0.93		1.30		0.04
	Measured	‐		‐		‐		‐		‐	‐
	Indicated	‐		‐		‐		‐		‐	‐
	Measured and Indicated	‐		‐		‐		‐		‐	‐
	Inferred	‐		‐		‐	0.93		1.30		0.04
	Gilmour OP	‐		‐		‐	1.82		2.21		0.13
	Measured	‐		‐		‐		‐		‐	‐
	Indicated	‐		‐		‐	0.42		5.81		0.08
	Measured and Indicated	‐		‐		‐	0.42		5.81		0.08
	Inferred	‐		‐		‐	1.40		1.13		0.05
	Gilmour UG	‐		‐		‐	0.78		5.13		0.13
	Measured	‐		‐		‐		‐		‐	‐
	Indicated	‐		‐		‐	0.30		4.33		0.04
	Measured and Indicated	‐		‐		‐	0.30		4.33		0.04
	Inferred	‐		‐		‐	0.49		5.62		0.09
	Total Gold Road 100% Owned	‐		‐		‐	3.53		2.62		0.30
	Measured	‐		‐		‐		‐		‐	‐
	Indicated	‐		‐		‐	0.72		5.20		0.12
	Measured and Indicated	‐		‐		‐	0.72		5.20		0.12
	Inferred	‐		‐		‐	2.82		1.96		0.18
	Total Gold Road Attributable	‐		‐		‐	81.22		1.38		3.60
	Measured	‐		‐		‐	8.37		1.18		0.32
	Indicated	‐		‐		‐	50.65		1.38		2.24
	Measured and Indicated	‐		‐		‐	59.01		1.35		2.56
	Inferred	‐		‐		‐	22.21		1.46		1.04

Page 7 of 23

	Ore Reserve Estimate ‐ December 2018
	Gruyere Joint Venture ‐ 100% basis	Gold Road Attributable
	Tonnes	Grade	Contained	Tonnes	Grade	Contained
Project Name / Category	Metal	Metal
	(Mt)	(g/t Au)	(Moz Au)	(Mt)	(g/t Au)	(Moz Au)
Gruyere Total	90.65	1.24	3.61	45.33	1.24	1.80

Proved	16.84	1.11	0.60	8.42	1.11	0.30
Probable	73.81	1.27	3.01	36.91	1.27	1.50
Golden Highway Total	6.54	1.46	0.31	3.27	1.46	0.15
Proved	0.32	1.67	0.02	0.16	1.67	0.01
Probable	6.22	1.45	0.29	3.11	1.45	0.15
Total Gruyere JV	97.20	1.25	3.92	48.60	1.25	1.96
Proved	17.16	1.13	0.62	8.58	1.13	0.31
Probable	80.03	1.28	3.30	40.02	1.28	1.65

Notes:

• Gruyere JV Mineral Resources and Ore Reserves remain unchanged from December 2018
• All Mineral Resources and Ore Reserves are completed in accordance with the JORC Code 2012 Edition
• All figures are rounded to reflect appropriate levels of confidence. Apparent differences may occur due to rounding
• Mineral Resources are inclusive of Ore Reserves
• The Gruyere JV is a 50:50 joint venture between Gold Road and Gruyere Mining Company Pty Ltd, a wholly owned Australian subsidiary of Gold Fields Ltd. Figures are reported on a 100% basis unless otherwise specified
• Gold Road holds an uncapped 1.5% net smelter return royalty on Gold Fields' share of production from the Gruyere JV once total gold production from the Gruyere JV exceeds 2 million ounces
• All Open Pit Mineral Resources are reported at various cut‐off grades allowing for processing costs, recovery and haulage to the Gruyere Mill. Gruyere ‐ 0.30 g/t Au. Attila, Argos, Montagne, Orleans, and Alaric - 0.50 g/t Au. YAM14 - 0.40 g/t Au. Gilmour ‐ 0.50 g/t Au. Renegade ‐
• 1. g/t Au. All Open Pit Mineral Resources are constrained within a $1,850/oz optimised pit shell derived from mining, processing and geotechnical parameters from PFS and operational studies. Underground Mineral Resources at Central Bore and Gilmour are constrained by 1.5 metre and 2.5 metre minimum stope widths respectively that are optimised to a 3.50 g/t Au cut‐off reflective of an $1,850/oz gold price. Diluted tonnages and grades are reported based on minimum stope widths
• The Ore Reserves are constrained within a $1,600/oz mine design derived from mining, processing and geotechnical parameters as defined by Pre‐feasibility Studies and operational studies. The Ore Reserves are evaluated using variable cut‐off grades: Gruyere ‐ 0.30 g/t Au. Attila ‐ 0.65 g/t Au (fresh), 0.58 g/t Au (transition), 0.53 g/t Au (oxide). Alaric ‐ 0.59 g/t Au (fresh), 0.56 g/t Au (transition), 0.53 g/t Au (oxide), Montagne -
• 1. g/t Au (fresh), 0.60 g/t Au (transition), 0.58 g/t Au (oxide), Argos - 0.66 g/t Au (fresh), 0.64 g/t Au (transition), 0.59 g/t Au (oxide). Ore block tonnage dilution averages and gold loss estimates: Gruyere - 4.9% and 0.4%. Attila ‐ 14% and 3%. Alaric ‐ 20% and 6%. Montagne - 9% and 7%. Argos 10% and 12%
• All dollar amounts are in Australian dollars

Page 8 of 23

Competent Persons Statements

Exploration Results

The information in this report which relates to Exploration Results is based on information compiled by Mr Justin Osborne, Executive Director

• Discovery and Growth for Gold Road. Mr Osborne is an employee of Gold Road, and a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM 209333). Mr Osborne is a shareholder and a holder of Performance Rights. Mr Osborne has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken 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 Osborne consents to the inclusion in the report of the matters based on this information in the form and context in which it appears

Mineral Resources

The information in this report that relates to the Mineral Resource estimation for Gruyere is based on information compiled by Mr Mark Roux. Mr Roux is an employee of Gold Fields Australia, is a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM 324099) and is registered as a Professional Natural Scientist (400136/09) with the South African Council for Natural Scientific Professions. Mr Justin Osborne, Executive Director ‐ Discovery and Growth for Gold Road and Mr John Donaldson, General Manager Geology for Gold Road have endorsed the Mineral Resource for Gruyere on behalf of Gold Road.

• Mr Osborne is an employee of Gold Road and a Fellow of the Australasian Institute of Mining and Metallurgy (FAusIMM 209333). Mr Osborne is a shareholder and a holder of Performance Rights.
• Mr Donaldson is an employee of Gold Road and a Member of the Australian Institute of Geoscientists and a Registered Professional Geoscientist (MAIG RPGeo Mining 10147). Mr Donaldson is a shareholder and a holder of Performance Rights.

The information in this report that relates to the Mineral Resource estimation for Attila, Orleans, Argos, Montagne, Alaric, YAM14, Central Bore, Gilmour and Renegade is based on information compiled by Mr Justin Osborne, Executive Director ‐ Discovery and Growth for Gold Road, Mr John Donaldson, General Manager Geology for Gold Road and Mrs Jane Levett, former Principal Resource Geologist for Gold Road.

• Mrs Levett was an employee of Gold Road and is a Member of the Australasian Institute of Mining and Metallurgy and a Chartered Professional (MAusIMM CP 112232).

Messrs Roux, Osborne and Donaldson and Mrs Levett have sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as Competent Persons as defined in the 2012 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Messrs Roux, Osborne and Donaldson and Mrs Levett consent to the inclusion in the report of the matters based on this information in the form and context in which it appears.

Ore Reserves

The information in this report that relates to the Ore Reserve estimation for Gruyere is based on information compiled by Mr Daniel Worthy. Mr Worthy was an employee of Gruyere Mining Company Pty Ltd and a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM 208354). Mr Max Sheppard, Principal Mining Engineer for Gold Road has endorsed the Ore Reserve estimation for Gruyere on behalf of Gold Road.

• Mr Sheppard is an employee of Gold Road and is a Member of the Australasian Institute of Mining and Metallurgy (MAusIMM 106864).

The information in this report that relates to the Ore Reserve estimation for Attila, Argos, Montagne and Alaric, is based on information compiled by Mr Max Sheppard, Principal Mining Engineer for Gold Road.

Mr Worthy and Mr Sheppard have sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity currently being undertaken 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 Worthy and Mr Sheppard consent to the inclusion in this announcement of the matters based on this information in the form and context in which it appears.

New Information or Data

Gold Road 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 and Ore Reserves 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 Person's findings are presented have not materially changed from the original market announcement.

Page 9 of 23

Appendix 1 - Diamond and RC Drilling Information

Table 1: Collar coordinate details for diamond drilling

	Project Group		Prospect		Hole ID	End of Hole	Easting	Northing	RL	MGA94‐51	Dip
			Depth (m)	MGA94‐51 (m)	MGA94‐51 (m)	(m)	Azimuth
	Beefwood		Beefwood		19GVDD0002	300.00	593,852	6,860,681	476	224	‐60
	Gruyere JV		Gruyere		19GY0343	394.00	583,446	6,904,909	405	251	‐60
			Gruyere		19GY0345	498.60	583,594	6,904,750	407	250	‐61
			Gruyere		19GY0346	494.30	583,614	6,904,673	409	250	‐61
			Gruyere		19GY0347	420.60	583,712	6,904,580	408	246	‐61
			Gruyere		19GY0347_W01	591.70	583,712	6,904,580	408	246	‐61
			Gruyere		19GY0348	158.60	583,765	6,904,496	408	252	‐60
			Gruyere		19GY0349	149.00	583,802	6,904,422	408	252	‐56
			Gruyere		19GY0350	149.00	583,899	6,904,225	411	252	‐54
			Gruyere		19GY0351	484.00	583,786	6,904,076	397	250	‐60
			Gruyere		19GY0352	588.40	583,905	6,904,118	412	248	‐58
			Gruyere		19GY0353	521.30	583,900	6,904,009	413	250	‐54
			Gruyere		19GY0354	449.00	583,831	6,903,948	412	251	‐61
			Gruyere		19GY0355	423.83	583,850	6,903,886	413	252	‐61
			Gruyere		19GY0358	446.50	583,989	6,903,649	414	250	‐60
			Gruyere		19GY0361	628.00	583,799	6,904,420	408	252	‐56
			Gruyere		19GY0363	617.20	583,766	6,904,496	408	252	‐61
			Gruyere		19GY0364	423.50	583,920	6,904,253	412	247	‐53
			Gruyere		19GY0364_W01	383.40	583,920	6,904,253	412	246	‐53
			Gruyere		19GY0364_W02	667.90	583,920	6,904,253	412	247	‐53
			Gruyere		19GY0365	471.70	583,457	6,905,019	405	248	‐63
			Gruyere		19GY0366	675.40	583,564	6,905,164	404	246	‐64
	Hopwood		Hopwood		19MHDD0001	320.80	600,373	6,875,837	464	234	‐60
	Wanderrie		Gilmour		19WDDD0037	364.22	574,598	6,865,449	479	272	‐60
			Gilmour		19WDDD0047	606.40	575,173	6,865,347	467	256	‐61
	Yaffler		Warbler		19YFDD0005	234.62	584,092	6,846,345	455	268	‐70

Page 10 of 23

Table 2: Collar coordinate details for RC drilling

	Project					End of	Easting		Northing		RL		MGA94‐51
		Prospect		Hole ID	Hole					Dip
	Group			MGA94‐51 (m)		MGA94‐51 (m)		(m)		Azimuth
					Depth (m)
	Renegade		Khan		19ALRC0388	120	561,465	6,895,194	406	254		‐61
			Khan		19ALRC0389	150	561,492	6,895,220	406	252		‐61
	Gruyere JV		Gruyere		19GY0357	125	583,912	6,903,855	416	250		‐60
			Gruyere		19GY0360	41	583,859	6,903,836	414	251		‐61
			Gruyere		19GY0362	95	583,896	6,904,224	411	250		‐54
	Spearwood		Fortuna Camp		19SMRC0023	160	585,188	6,850,385	503	274		‐60
			Fortuna Camp		19SMRC0024	180	585,509	6,850,393	498	273		‐60
			Fortuna Camp		19SMRC0025	165	585,607	6,850,401	498	273		‐59
			Fortuna Camp		19SMRC0026	230	585,045	6,850,399	503	96		‐60
			Fortuna Camp		19SMRC0027	132	585,072	6,850,730	501	271		‐61
			Fortuna Camp		19SMRC0028	190	585,159	6,850,750	501	273		‐60
			Fortuna Camp		19SMRC0029	166	585,256	6,850,741	502	272		‐60
			Fortuna Camp		19SMRC0030	10	585,343	6,850,751	502	270		‐60
			Fortuna Camp		19SMRC0031	205	585,716	6,849,997	492	274		‐60
			Fortuna Camp		19SMRC0032	166	585,812	6,849,948	491	270		‐60
			Fortuna Camp		19SMRC0033	172	585,068	6,850,730	501	276		‐60
			Fortuna Camp		19SMRC0034	225	585,341	6,850,748	502	274		‐60
	Wanderrie		Gilmour		19WDDD0038	59	574,948	6,865,333	473	270		‐71
			Gilmour		19WDDD0039	76	575,061	6,865,199	468	273		‐71
			Morello		19WDRC0222	280	573,742	6,866,750	457	272		‐60
			Morello		19WDRC0223	196	573,630	6,866,850	455	272		‐56
			Morello		19WDRC0226	160	573,940	6,865,450	474	271		‐60
			Rocha		19WDRC0244	260	573,273	6,867,750	468	270		‐60
			Rocha		19WDRC0245	160	573,375	6,867,746	469	270		‐60
			Rocha		19WDRC0246	203	573,459	6,867,747	467	271		‐60
			Rocha		19WDRC0247	278	573,545	6,867,749	466	270		‐60
			Rocha		19WDRC0248	149	573,128	6,867,960	472	271		‐60
			Rocha		19WDRC0249	160	573,240	6,867,962	470	269		‐60
			Rocha		19WDRC0250	167	573,308	6,867,961	471	270		‐61
			Rocha		19WDRC0251	113	573,374	6,867,962	470	271		‐61
			Rocha		19WDRC0252	160	573,462	6,867,965	469	270		‐60
			Rocha		19WDRC0253	161	573,037	6,868,339	469	267		‐60
			Rocha		19WDRC0254	160	573,133	6,868,333	476	267		‐60
			Rocha		19WDRC0255	160	573,219	6,868,351	474	270		‐60
			Rocha		19WDRC0256	160	573,309	6,868,371	474	270		‐60
			Rocha		19WDRC0257	173	573,388	6,868,379	472	270		‐60
			Rocha		19WDRC0258	160	573,529	6,868,342	471	270		‐60
			Rocha		19WDRC0259	137	573,631	6,868,320	469	270		‐60
			Rocha		19WDRC0260	152	573,729	6,868,327	468	267		‐60
			Rocha		19WDRC0262	220	573,442	6,867,817	468	270		‐60
			Rocha		19WDRC0265	140	573,565	6,867,812	467	252		‐60
			Rocha		19WDRC0266	200	573,688	6,867,747	465	255		‐60
			Rocha		19WDRC0267	180	573,786	6,867,750	463	270		‐60
			Rocha		19WDRC0268	190	573,860	6,867,948	464	242		‐60
	Yaffler		Yaffler South		19YFRC0006	16	582,761	6,849,181	486	270		‐60
			Yaffler South		19YFRC0007	28	583,150	6,849,196	485	270		‐60
			Yaffler South		19YFRC0008	10	582,591	6,849,596	490	270		‐60
			Yaffler South		19YFRC0009	16	582,968	6,849,596	491	270		‐60
			Yaffler South		19YFRC0014	34	582,964	6,849,595	491	270		‐60
			Yaffler South		19YFRC0019	200	584,150	6,846,345	455	240		‐70
			Yaffler South		19YFRC0020	106	584,061	6,846,294	455	240		‐60
			Yaffler South		19YFRC0021	70	584,024	6,846,269	455	240		‐60
			Warbler		19YFRC0022	90	584,038	6,846,338	455	240		‐60
			Warbler		19YFRC0023	60	583,994	6,846,313	455	240		‐60
			Warbler		19YFRC0024	190	584,100	6,846,429	455	239		‐58
			Warbler		19YFRC0025	178	584,074	6,846,468	455	240		‐60
			Warbler		19YFRC0026	126	584,031	6,846,449	455	240		‐60
			Warbler		19YFRC0027	90	583,986	6,846,423	455	240		‐60
			Warbler		19YFRC0028	50	583,946	6,846,397	455	240		‐60

Page 11 of 23

Figure 1: Yaffler South collar plan

Page 12 of 23

Figure 2: Gruyere collar plan

Page 13 of 23

Appendix 2 - Significant drill results - Diamond and RC

Table 1: Gruyere Resource Extension ‐ Geologically selected intercepts with significant internal intercepts, and individual assays >5 g/t Au

Prospect	Drill Type	Hole ID	From (m)	To (m)	Length (m)	Au (g/t)	Gram x metre
Gruyere	Diamond	19GY0343	302.10	349.85	47.75	1.93	92.1
		Including	302.10	303.15	1.05	6.27	6.6
		and	323.57	324.17	0.60	30.28	18.2
		19GY0345	385.46	450.00	64.54	0.98	63.0
		19GY0346	352.15	449.00	96.85	0.92	89.1
		19GY0347	402.23	418.00	15.77	0.76	11.9
		19GY0347_W01	416.45	528.25	111.80	1.20	134.5
		Including	461.60	511.00	49.40	1.60	79.0
		Including	498.00	499.00	1.00	5.83	5.8
		19GY0351	203.74	407.75	204.01	1.03	210.6
		Including	203.74	359.85	156.11	1.20	187.9
		Including	212.00	213.13	1.13	15.94	18.0
		and	263.82	264.51	0.69	31.24	21.6
		and	321.00	359.85	38.85	1.55	60.3
		19GY0352	378.00	561.00	183.00	0.99	181.2
		Including	451.13	561.00	109.87	1.31	143.4
		Including	468.05	524.00	55.95	1.67	93.3
		and	474.00	484.00	10.00	2.74	27.4
		and	494.00	518.00	24.00	1.98	47.6
		and	509.00	511.00	2.00	5.11	10.2
		19GY0353	355.25	502.12	146.87	0.75	110.3
		Including	356.00	449.00	93.00	0.90	83.3
		and	472.00	498.00	26.00	0.72	18.7
		19GY0354	275.71	366.87	91.16	1.47	133.9
		including	292.56	308.00	15.44	2.08	32.1
		and	323.50	342.45	18.95	3.69	69.9
		Including	323.50	324.82	1.32	28.70	37.9
		and	340.00	341.00	1.00	11.64	11.6
		and	425.06	428.00	2.94	0.54	1.6
		19GY0355	251.80	326.00	74.20	0.86	64.0
		19GY0361	418.90	578.40	159.50	1.25	198.9
		Including	479.00	569.00	90.00	1.51	136.0
		19GY0363	437.42	587.00	149.58	1.46	217.9
		Including	439.00	440.00	1.00	5.36	5.4
		and	469.76	572.14	102.38	1.72	176.1
		including	486.75	487.24	0.49	17.28	8.5
		and	487.70	488.21	0.51	36.13	18.4
		and	526.00	527.06	1.06	5.55	5.9
		and	550.66	551.13	0.47	9.54	4.5
		and	562.81	563.48	0.67	7.70	5.2
		19GY0364_W02	428.00	625.00	197.00	0.94	185.4
		Including	439.00	483.24	44.24	1.64	72.4
		Including	448.81	450.00	1.19	7.18	8.5
		and	457.00	458.00	1.00	6.51	6.5
		and	481.00	482.00	1.00	6.25	6.3
		and	515.72	516.00	0.28	5.72	1.6
		and	549.15	550.00	0.85	5.70	4.8
		and	602.85	603.45	0.60	5.69	3.4
		19GY0365	372.30	413.74	41.44	2.52	104.5
		Including	380.17	406.37	26.20	3.12	81.9
		Including	381.00	382.00	1.00	6.91	6.9
		and	384.70	384.92	0.22	8.61	1.9
		and	390.00	390.95	0.95	6.07	5.8
		and	398.00	399.00	1.00	13.89	13.9
		19GY0366	561.30	603.00	41.70	1.40	58.2
		Including	561.30	593.85	32.55	1.61	52.5

Page 14 of 23

Table 2: Warbler Significant Intercepts (>0.5g/t Au cut‐off unless noted otherwise)

Prospect	Drill type	Hole ID	From (m)	To (m)	Length (m)	Au (g/t)	Gram x metre
Warbler	Diamond	19YFDD0005	121.0	129.0	8.0	1.20	9.6
			121.0	124.0	3.0	2.35	7.1
Warbler	RC	19YFRC0022	56.0	69.0	13.0	1.98	25.8
		including	61.0	69.0	8.0	2.75	22.0
		and	72.0	73.0	1.0	1.22	1.2
		19YFRC0023	18.0	36.0	18.0	1.33	23.9
		including	23.0	27.0	4.0	1.04	4.2
		and	31.0	36.0	5.0	2.88	14.4
		including	34.0	36.0	2.0	5.61	11.2
		19YFRC0024	143.0	154.0	11.0	1.58	17.4
		including	144.0	151.0	7.0	2.24	15.7
		including	147.0	148.0	1.0	5.80	5.8
		19YFRC0025	157.0	158.0	1.0	1.52	1.5
		19YFRC0026	104.0	105.0	1.0	0.55	0.6
	* 0.1 cut off intercept	and	111.0	126.0	15.0	0.31	4.7
		including	114.0	115.0	1.0	1.71	1.7
		19YFRC0027	68.0	69.0	1.0	0.54	0.5
		and	77.0	78.0	1.0	1.14	1.1
		19YFRC0028	25.0	27.0	2.0	0.76	1.5

Table 2: Yaffler South Significant Intercepts (>0.3g/t Au cut‐off)

Prospect	Drill type	Hole ID	From (m)	To (m)	Length (m)	Au (g/t)	Gram x metre
Yaffler South	RC	19YFRC0019	146.0	154.0	8.0	0.66	5.2
		including	147.0	148.0	1.0	1.90	1.9
		and	158.0	159.0	1.0	1.02	1.0
		19YFRC0020	52.0	63.0	11.0	0.74	8.2
		including	53.0	54.0	1.0	1.18	1.2
		and	57.0	58.0	1.0	2.84	2.8
		and	61.0	62.0	1.0	1.13	1.1

Table 2: Khan Significant Intercepts (>0.1g/t Au cut‐off)

Prospect	Drill type	Hole ID	From (m)	To (m)	Length (m)	Au (g/t)	Gram x metre
Khan	RC	19ALRC0388	22.0	23.0	1.0	0.33	0.3
			47.0	48.0	1.0	0.12	0.1
			55.0	57.0	2.0	0.14	0.3
			66.0	68.0	2.0	0.15	0.3
			76.0	77.0	1.0	0.10	0.1
			112.0	118.0	6.0	0.13	0.8
		19ALRC0389	54.0	73.0	19.0	0.32	6.1
		and	78.0	105.0	27.0	0.52	14.1
		including	83.0	84.0	1.0	1.07	1.1
		and	90.0	91.0	1.0	1.63	1.6
		and	94.0	96.0	2.0	3.45	6.9
		and	100.0	101.0	1.0	1.00	1.0
		and	110.0	128.0	18.0	0.19	3.4
		including	110.0	111.0	1.0	1.34	1.3

Table 2: Morello Significant Intercepts (>0.1g/t Au cut‐off)

Prospect	Drill type	Hole ID	From (m)	To (m)	Length (m)	Au (g/t)	Gram x metre
Morello	RC	19WDRC0222	222.0	247.0	25.0	0.21	5.3
		Including	228.0	229.0	1.0	1.13	1.1
		and	245.0	246.0	1.0	0.71	0.7
		and	252.0	273.0	21.0	0.22	4.6
		including	253.0	254.0	1.0	1.52	1.5
		and	259.0	260.0	1.0	1.02	1.0
		19WDRC0223	134.0	135.0	1.0	0.32	0.3
		and	170.0	196.0	26.0	0.14	3.6
		including	184.0	185.0	1.0	0.81	0.8

Page 15 of 23

Table 2: Rocha Significant Intercepts (>0.1g/t Au cut‐off with higher grade internal intercepts)

Prospect	Drill type	Hole ID	From (m)	To (m)	Length (m)	Au (g/t)	Gram x metre
Rocha	RC	19WDRC0245	80.0	109.0	29.0	0.38	10.9
		including	84.0	85.0	1.0	0.55	0.6
		and	96.0	97.0	1.0	0.56	0.6
		and	102.0	103.0	1.0	4.24	4.2
		and	114.0	125.0	11.0	0.23	2.5
		including	121.0	122.0	1.0	0.75	0.7
		19WDRC0246	151.0	179.0	28.0	0.30	8.4
		including	157.0	158.0	1.0	0.71	0.7
		and	162.0	166.0	4.0	0.62	2.5
		and	169.0	171.0	2.0	0.57	1.1
		and	177.0	178.0	1.0	0.72	0.7
		and	184.0	202.0	18.0	0.41	7.4
		including	188.0	189.0	1.0	1.65	1.7
		and	193.0	194.0	1.0	2.51	2.5
		and	199.0	200.0	1.0	0.51	0.5
		19WDRC0247	105.0	106.0	1.0	0.52	0.5
		and	245.0	246.0	1.0	0.53	0.5
		and	256.0	276.0	20.0	0.42	8.4
		including	259.0	260.0	1.0	2.18	2.2
		and	268.0	269.0	1.0	1.34	1.3
		19WDRC0249	90.0	100.0	10.0	3.08	30.8
		including	90.0	91.0	1.0	24.33	24.3
		and	99.0	100.0	1.0	0.72	0.7
		and	112.0	113.0	1.0	0.64	0.6
		and	119.0	120.0	1.0	0.73	0.7
		and	148.0	149.0	1.0	0.57	0.6
		19WDRC0250	104.0	117.0	13.0	0.72	9.4
			114.0	115.0	1.0	6.86	6.9
			154.0	155.0	1.0	0.77	0.8
		19WDRC0256	61.0	63.0	2.0	0.54	1.1
			74.0	75.0	1.0	0.59	0.6
			82.0	83.0	1.0	0.63	0.6
			88.0	89.0	1.0	0.52	0.5
		19WDRC0259	103.0	104.0	1.0	0.91	0.9
			114.0	115.0	1.0	2.42	2.4
		19WDRC0262	209.0	210.0	1.0	0.66	0.7
		19WDRC0266	191.0	193.0	2.0	0.78	1.6
			191.0	192.0	1.0	1.34	1.3
		19WDRC0267	74.0	75.0	1.0	1.00	1.0
			85.0	86.0	1.0	1.60	1.6

Table 2: Fortuna Significant Intercepts (>0.1g/t Au cut‐off with higher grade internal intercepts)

Prospect	Drill type	Hole ID	From (m)	To (m)	Length (m)	Au (g/t)	Gram x metre
Fortuna	RC	19SMRC0023	87	95	8	0.77	6.2
		including	89	92	3	1.62	4.9
		and	103	105	2	0.31	0.6
		and	138	140	2	0.58	1.2
		including	138	139	1	1.03	1.0
		19SMRC0024	86	93	7	0.09	0.7
		19SMRC0025	27	28	1	0.17	0.2
		19SMRC0026	29	30	1	0.16	0.2
		and	86	87	1	0.14	0.1
		and	99	100	1	0.15	0.2
		and	126	127	1	0.15	0.2
		and	135	139	4	0.27	1.1
		and	137	138	1	0.69	0.7
		and	160	165	5	0.07	0.4
		and	180	185	5	0.12	0.6
		and	194	198	4	0.09	0.4
		and	208	213	5	0.11	0.5
		19SMRC0028	116	117	1	0.12	0.1
		19SMRC0029	108	109	1	0.62	0.6
		19SMRC0031	165	166	1	0.17	0.2
		19SMRC0034	187	188	1	0.14	0.1

Page 16 of 23

Appendix 3 - JORC Code 2012 Edition Table 1 Report

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections)

Criteria and JORC Code explanation	Commentary
Sampling techniques	The sampling has been carried out using a combination of Reverse
Nature and quality of sampling (eg cut channels, random chips, or	Circulation (RC) and diamond drilling (DDH) from the following projects
specific specialised industry standard measurement tools appropriate to	and targets:
the minerals under investigation, such as down hole gamma sondes, or
	Project Group	Hole_Type	Number of Holes Metres (m)
handheld XRF instruments, etc). These examples should not be taken as
limiting the broad meaning of sampling.		Yamarna	DDH		4	1,075.42
				RC		52	7,744
		Gruyere JV	DDH + RC Precollar	21	8,669.43
				RC		2	270
				AC		0	0
		Total	DDH		25	9,744.85
				RC		54	8,014
				All Holes		79	17,758.85
		Project	Hole_Type	Number of Holes	Metres (m)
		Group
		Yamarna	DDH		1		426.60
				RC		13		2,412
				AC
		Gruyere JV	DDH + RC		4		1,333.90
		Precollar
				RC		2		664
				AC
		Total	DDH		5		1,760.50
				RC		15		3,076
				AC		0		0
				All Holes		20		4,836.50
	DDH: Drill core is logged geologically and marked up for sampling and
	analysis at variable intervals based on geological observations, ranging
	typically between 0.20‐1.20 m. Drill core is cut in half by a diamond saw
	and half core samples submitted for assay analysis. Where core is highly
	fractured and contains coarse gold, whole core samples may be
	selected for sample submission.
	RC: Samples were collected as drilling chips from the RC rig using a
	cyclone collection unit and directed through a static cone splitter to
	create a 2‐3 kg sample for assay. Samples were taken as individual
	metre samples.
Include reference to measures taken to ensure sample representation	Sampling was carried out under Gold Road's protocol and QAQC
and the appropriate calibration of any measurement tools or systems	procedures. Laboratory QAQC was also conducted. See further details
used.	below.
Aspects of the determination of mineralisation that are Material to the	DDH: Diamond drilling was completed using a HQ3 or NQ2 drilling bit
Public Report.	for all holes. Core is cut in half for sampling, with a half core sample sent
In cases where 'industry standard' work has been done this would be	for assay at measured intervals.
relatively simple (eg 'reverse circulation drilling was used to obtain 1 m	RC: holes were drilled with a 5.5 inch face‐sampling bit, 1 m samples
samples from which 3 kg was pulverised to produce a 30 g charge for	collected through a cyclone and static cone splitter, to form a 2‐3 kg
fire assay'). In other cases more explanation may be required, such as	sample. For	all samples	the	entire 1m	sample was sent to the
where there is coarse gold that has inherent sampling problems.	laboratory for analysis.
Unusual commodities or mineralisation types (eg submarine nodules)	All RC and DDH samples were dried and fully pulverised at the lab to ‐
may warrant disclosure of detailed information.	75 um, to produce a 50 g charge for Fire Assay with AAS finish. Selected
	pulps from the samples were also analysed by the laboratory using a
	desk mounted Portable XRF machine to provide a 30 element suite of
	XRF assays. Selected samples were analysed for a 60 element suite
	using a 4 acid digest method.

Page 17 of 23

Criteria and JORC Code explanation	Commentary
Drilling techniques	DDH: Diamond drilling rigs collected the diamond core as HQ3 (61.1
Drill type (eg core, reverse circulation, open‐hole hammer, rotary air	mm) and NQ2 (45.1 mm) size for sampling and assay. All suitably
blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or	competent drill core (100%) is oriented using Reflex digital orientation
standard tube, depth of diamond tails, face‐sampling bit or other type,	tools, with core initially cleaned and pieced together at the drill site,
whether core is oriented and if so, by what method, etc).	and fully orientated by GOR field staff at the Yamarna Exploration
	facility. In broken ground, triple tube diamond core may be selected to
	be collected. Diamond tails are drilled from RC pre‐collars to both
	extend holes when abandoned and reduce drilling costs when
	appropriate.
	RC: The face‐sampling RC bit has a diameter of 5.5 inches (140 mm).
Drill sample recovery	DDH: All diamond core collected is dry. Driller's measure core
Method of recording and assessing core and chip sample recoveries and	recoveries for every drill run completed using 3 and 6 m core barrels.
results assessed.	The core recovered is physically measured by tape measure and the
	length recovered is recorded for every "run". Core recovery can be
	calculated as a percentage recovery. Almost 100% recoveries were
	achieved, with minimal core loss recorded.
	RC: The majority of RC samples were dry. Drilling operators' ensured
	water was lifted from the face of the hole at each rod change to ensure
	water did not interfere with drilling and to make sure samples were
	collected dry. Wet or damp samples are recorded in the database. RC
	recoveries were visually estimated, and recoveries recorded in the log
	as a percentage. Recovery of the samples was good, generally
	estimated to be full, except for some sample loss at the top of the hole.
	All mineralised samples were dry. GOR procedure is to stop RC drilling
	if water cannot be kept out of hole and continue with a DDH tail at a
	later time if required.
Measures taken to maximise sample recovery and ensure	DDH: Diamond drilling collects uncontaminated fresh core samples
representative nature of the samples.	which are cleaned at the drill site to remove drilling fluids and cuttings
	to present clean core for logging and sampling.
	RC: Face‐sample bits and dust suppression were used to minimise
	sample loss. Drilling airlifted the water column above the bottom of the
	hole to ensure dry sampling. RC samples are collected through a cyclone
	and static cone splitter, the rejects deposited either on the ground in
	piles for milestone 1‐3 prospects or in a plastic bag for milestone 4
	prospects and a 2 to 3 kg lab sample collected.
Whether a relationship exists between sample recovery and grade and	DDH: No sample bias or material loss was observed to have taken place
whether sample bias may have occurred due to preferential loss/gain of	during drilling activities.
fine/coarse material.	RC: No significant sample bias or material loss was observed to have
	taken place during drilling activities.
Logging	All chips and drill core were geologically logged by Gold Road geologists,
Whether core and chip samples have been geologically and	using the Gold Road logging scheme. Detail of logging was sufficient for
geotechnically logged to a level of detail to support appropriate Mineral	mineral resource estimation and technical studies.
Resource estimation, mining studies and metallurgical studies.
Whether logging is qualitative or quantitative in nature. Core (or	Logging of DDH core records lithology, mineralogy, mineralisation,
costean, channel, etc) photography.	alteration, structure, weathering, colour and other features of the
	samples. All core is photographed in the core trays, with individual
	photographs taken of each tray both dry and wet.
	Logging of RC chips records lithology, mineralogy, mineralisation,
	weathering, colour and other features of the samples. All samples are
	wet‐sieved and stored in a chip tray. Chip trays are scheduled for
	photographing.
The total length and percentage of the relevant intersections logged	All holes were logged in full.
Sub‐sampling techniques and sample preparation	Core samples were cut in half using an automated Corewise diamond
If core, whether cut or sawn and whether quarter, half or all core taken.	saw. Half core samples were collected for assay, and the remaining half
	core samples stored in the core trays. For heavily broken ground not
	amenable to cutting, whole core sampling may be taken but is not a
	regular occurrence.
If non‐core, whether riffled, tube sampled, rotary split, etc and whether	RC: 1 m drill samples are channelled through a static cone‐splitter,
sampled wet or dry.	installed directly below a rig mounted cyclone, and an average 2‐3 kg
	sample is collected in a numbered calico bag, and positioned on top of
	the sample spoil or plastic bag where spoil is retained. >95% of samples
	were dry, and whether wet or dry is recorded.
For all sample types, the nature, quality and appropriateness of the	Samples (DDH and RC) were prepared at the Intertek Laboratory in
sample preparation technique.	Kalgoorlie. Samples were dried, and the whole sample pulverised to
	85% passing 75 µm, and a sub‐sample of approx. 200 g retained. A
	nominal 50 g was used for the Fire Assay analysis. The procedure is
	industry standard for this type of sample.
Quality control procedures adopted for all sub‐sampling stages to	DDH: No duplicates were collected for diamond holes.
maximise representation of samples.
	Page 18 of 23

Criteria and JORC Code explanation	Commentary
	RC: A duplicate field sample is taken from the cone splitter at a rate of
	approximately 1 in 30 samples. At the laboratory, regular Repeats and
	Lab Check samples are assayed.
Measures taken to ensure that the sampling is representative of the in	RC: 1 m samples are split on the rig using a static cone‐splitter, mounted
situ material collected, including for instance results for field	directly under the cyclone. Samples are collected to weigh between 2
duplicate/second‐half sampling.	to 3 kg. The duplicate weights are monitored to ensure that the splitter
	is levelled appropriately, and samples are representative.
Whether sample sizes are appropriate to the grain size of the material	Sample sizes are considered appropriate to give an indication of
being sampled.	mineralisation given the expected particle size.
Quality of assay data and laboratory tests	DDH and RC: Samples were analysed at the Intertek Laboratory in
The nature, quality and appropriateness of the assaying and laboratory	Perth. The analytical method used was a 50 g Fire Assay with ICP finish
procedures used and whether the technique is considered partial or	for gold only, which is considered to be appropriate for the material and
total.	mineralisation. The method gives a near total digestion of the material
	intercepted.
For geophysical tools, spectrometers, handheld XRF instruments, etc,	Portable (handheld) XRF analysis in the lab is completed by Lab Staff.
the parameters used in determining the analysis including instrument	Portable XRF machines are calibrated at beginning of each shift. Read
make and model, reading times, calibrations factors applied and their	times for all analyses are recorded and included in the Lab Assay
derivation, etc.	reports. Detection limits for each element are included in Lab reports.
Nature of quality control procedures adopted (eg standards, blanks,	Gold Road protocols for:
duplicates, external laboratory checks) and whether acceptable levels	DDH programmes is for Field Standards (Certified Reference Materials)
of accuracy (ie lack of bias) and precision have been established.	and Blanks inserted at a rate of 4 Standards and 4 Blanks per 100
	samples. No field duplicates are collected.
	RC programmes is for Field Standards (certified Reference Materials)
	and Blanks inserted at a rate of 4 Standards and 4 Blanks per 100
	samples. Field duplicates are generally inserted at a rate of approximate
	1 in 60.
		Assay and QAQC Numbers	DDH	RC
		Number	Comment	Comment
		Total Sample Submission		3,173		9,234
		Assays	2,927	8,443
		Field Blanks	121	400
		Field Standards	125	391
		Field Duplicates	0	287
		Laboratory Blanks	122	424
		Laboratory Checks	111	379
		Laboratory Standards	124	423
		Umpire Checks
		All Gold Road QAQC protocols were met and analysis results passed
	required hurdles to ensure acceptable levels of accuracy and precision
	attained for the milestone level and use of the respective results for
	resource evaluation and reporting.
Verification of sampling and assaying	Significant results are checked by the Exploration Manager, General
The verification of significant intersections by either independent or	Manager Geology and Executive Director. Additional checks are
alternative company personnel.	completed by the Database Manager. High grade gold RC samples are
	panned or sieved to check for visual evidence of coarse gold. Umpire
	checks not required for early stage projects.
The use of twinned holes.	No specific twinning has been completed to date.
Documentation of primary data, data entry procedures, data	All data are stored in a Datashed/SQL database system and maintained
verification, data storage (physical and electronic) protocols.	by the Database Manager. All field logging is carried out on toughbook
	computers using LogChief. Logging data is synchronised electronically
	to the Maxwell Datashed Database. Assay files are received
	electronically from the Laboratory.
Discuss any adjustment to assay data.	No assay data was adjusted. The lab's primary Au field is the one used
	for plotting and resource purposes. No averaging is employed.
Location of data points	RC and DDH locations were determined by handheld GPS, with an
Accuracy and quality of surveys used to locate drill holes (collar and	accuracy of 5 m in Northing and Easting.
down‐hole surveys), trenches, mine workings and other locations used	DDH and RC collars are surveyed post drilling using a DGPS system.
in Mineral Resource estimation.	For angled DDH and RC drill holes, the drill rig mast is set up using a
	clinometer with verification of azimuth and dip using a north seeking
	gyro.
	RC and diamond drillers use a true north seeking gyroscope at variable
	intervals while drilling and an end of hole survey with a nominal 10m
	interval spacing between points.
Specification of the grid system used.	Grid projection is GDA94, MGA Zone 51.
Quality and adequacy of topographic control.	RC and DDH RL's are surveyed by a Qualified Surveyor using DGPS & RTK
	GPS.
							Page 19 of 23

Criteria and JORC Code explanation	Commentary
Data spacing and distribution	Yaffler South (Warbler): Holes are completed at 50 m to 170 m
Data spacing for reporting of Exploration Results.	intervals, on 4 section lines spaced 50m
	Rocha: Holes are completed at 60m to 100 m intervals, on 5 section
	lines spaced 50 m to 400 m
	Fortuna: Holes are completed at 90 m intervals, on 3 section lines
	spaced 300 m to 400 m
	Gruyere: Holes are completed at 50m intervals on 100 m spaced section
	lines.
Whether the data spacing and distribution is sufficient to establish the	This is not considered relevant for this report for Yaffler South
degree of geological and grade continuity appropriate for the Mineral	(Warbler), Rocha or Fortuna. For Gruyere, drilling is being completed to
Resource and Ore Reserve estimation procedure(s) and classifications	increase the resource confidence in the inferred category resources to
applied.	achieve indicated category status and the programme designed
	accordingly. The drill programme is still underway and the resource
	category confidence will be determined upon evaluation of all the data
	collected.
Whether sample compositing has been applied.	No sample compositing was applied to RC or DD samples for results
	reported.
Orientation of data in relation to geological structure	Yaffler South (Warbler): The orientation of the drill holes (240 degrees
Whether the orientation of sampling achieves unbiased sampling of	and 268 degrees) is perpendicular to the strike of the regional geology
possible structures and the extent to which this is known, considering	(315 degrees). Results indicate that the orientation of drilling is optimal
the deposit type.	to ensure unbiased sampling of mineralisation. The dip of holes drilling
	to 240 degree azimuth is perpendicular to the dip of mineralisation.
	Rocha: The orientation of the drill holes (240‐270 degrees) and dip (‐60
	degrees) is near perpendicular to the regional strike of stratigraphy (320
	degrees). Given the drill spacing and results obtained on a single section
	the strike of mineralisation is not known. As such it is uncertain if a
	sampling bias is present.
	Fortuna: The orientation of the drill holes (270 degrees) and dip (‐60
	degrees) is near perpendicular to the regional strike of the Smokebush
	shear (320 degrees). Based on current understanding of the geology it
	is not expected that a significant sampling bias may be evident,
	although given the limited amount of drilling this is not certain.
	Gruyere: The orientation of the drill holes (270 degrees azimuth mine
	grid) is approximately perpendicular to the strike of the regional
	geology. This is resulting in an unbiased sample.
If the relationship between the drilling orientation and the orientation	Yaffler South (Warbler): The true width is not known at this stage.
of key mineralised structures is considered to have introduced a	Drilling orientation is optimal for the strike of mineralisation and no
sampling bias, this should be assessed and reported if material.	material sampling bias should be evident. Reported thicknesses are
	downhole and are wider than the true thickness.
	Rocha: The true width is not known at the stage. Given the low grade
	of mineralisation, the orientation of mineralisation is not deemed
	material at this stage. Reported thicknesses are downhole and are
	wider than the true thickness.
	Fortuna: The true width is not known at the stage. Given the low grade
	of mineralisation, the orientation of mineralisation is not deemed
	material at this stage. Reported thicknesses are downhole and are
	wider than the true thickness.
	Gruyere: Intersection angle is appropriate and not introducing any
	discernible bias.
Sample security	Pre‐numbered calico sample bags were collected in plastic bags (five
The measures taken to ensure sample security.	calico bags per single plastic bag), sealed, and transported by company
	transport to the Intertek Laboratory in Kalgoorlie. Pulps were
	despatched by Intertek to their laboratory in Perth for assaying.
Audits or reviews	Sampling and assaying techniques are industry‐standard. No specific
The results of any audits or reviews of sampling techniques and data.	external audits or reviews have been undertaken at this stage in the
	programme.

Page 20 of 23

Section 2 Reporting of Exploration Results

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

Criteria and JORC Code explanation	Commentary
Mineral tenement and land tenure status	All the Yamarna Tenements are located within either:
Type, reference name/number, location and ownership including	 the Yilka Native Title Determination Area (NNTT Number:
agreements or material issues with third parties such as joint ventures,	WCD2017/005), determined on 27 September 2017;
partnerships, overriding royalties, native title interests, historical sites,	 the Nangaanya‐ku registered claim area;
wilderness or national park and environmental settings.	 Manta Rirrtinya registered claim area
	 or the Waturta application claim area.
	The following activity occurred within the Cosmo Newberry Reserves
	for the Use and Benefit of Aborigines. Gold Road has signed a Deed of
	Agreement with the Cosmo Newberry Aboriginal Corporation in
	January 2008, which governs the exploration activities on these
	Reserves.
	Yaffler South: The DDH and RC drilling occurred within tenement
	E38/2355 on the Yilka Native Title Determination area.
	Rocha: The DDH and RC drilling occurred within tenement E38/2249.
	Fortuna: The RC drilling occurred within tenement E38/2355.
	Gruyere: DDH and RC drilling occurred within tenement M38/1267 on
	the Yilka Native Title Determination area.
The security of the tenure held at the time of reporting along with any	The tenements are in good standing with the Western Australia
known impediments to obtaining a licence to operate in the area.	Department of Mines, Infrastructure, Resource and Safety.
Exploration done by other parties	First exploration in the region was conducted in the eighties by
Acknowledgment and appraisal of exploration by other parties.	BHP/MMC, followed by Western Mining Corporation Ltd (WMC) with
	Kilkenny Gold in the nineties and in early‐mid 2000 by AngloGold
	Ashanti with Terra Gold. All subsequent work has been completed by
	Gold Road.
Geology	The prospects are located in the Yamarna Terrane of the Archaean
Deposit type, geological setting and style of mineralisation.	Yilgarn Craton of WA, under varying depths (0 to +30 m) of recent cover.
	The mafic‐intermediate volcano‐sedimentary sequence of the Yamarna
	Greenstone Belt has been multiply deformed and metamorphosed to
	Lower Amphibolite grade and intruded by later porphyries/granitoids.
	The Archaean sequence is considered prospective for structurally
	controlled primary orogenic gold mineralisation, as well as remobilised
	supergene gold due to subsequent Mesozoic weathering.
	The Gruyere Deposit comprises a narrow to wide porphyry intrusive
	dyke (Gruyere Porphyry - a Quartz Monzonite) which is between 35 and
	190 m in width and which strikes over a current known length of 2,200
	m. The Gruyere Porphyry dips steeply (65‐80 degrees) to the east. A
	sequence of intermediate to mafic volcaniclastic rocks defines the
	stratigraphy to the west of the intrusive and intermediate to mafic
	volcanics and a tholeiitic basalt unit occur to the east.
	Mineralisation is confined ubiquitously to the Gruyere Porphyry and is
	associated with pervasive overprinting albite‐sericite‐chlorite‐pyrite
	(±pyrhhotite±arsenopyrite) alteration which has obliterated the
	primary texture of the rock. Minor fine quartz‐carbonate veining occurs
	throughout. Pyrite is the primary sulphide mineral and some visible
	gold has been observed in logged diamond drill core.
	The Gruyere Deposit comprises coincident structural and geochemical
	targets within a major regional‐scale structural corridor associated with
	the Dorothy Hills Shear Zone. This zone occurs within the Dorothy Hills
	Greenstone Belt at Yamarna in the eastern part of the Archaean Yilgarn
	Craton. The Dorothy Hills Greenstone is the most easterly known
	occurrence of outcropping to sub‐cropping greenstone in the Yilgarn
	province of Western Australia.
	Mineralisation at Wanderrie area (Rocha prospect is in this trend) is a
	shear hosted style mineralisation that sits within several stratigraphic
	positions. These can be found in mafic sediment, volcanic and dolerite
	sequences in the north (Santana and Satriani) and within dacitic and
	felsic sedimentary packages in the south (Gilmour - Morello).
	Mineralisation is typically associated within and proximal to zones of
	high strain, biotite - sericite - chlorite - albite alteration, with a pyrite
	- pyrrhotite dominant system with accessory arsenopyrite.
	The Fortuna prospect is associated with a regional 320 degree striking
	shear. Mineralisation is typically associated within and proximal to
	zones of high strain, biotite - sericite - chlorite - albite alteration, with
	a pyrite - pyrrhotite dominant system with accessory arsenopyrite. No
	discernible thick zones of veining are noted and mineralisation is
	characterised by diffuse sulphides with disseminated gold.
	Page 21 of 23

Criteria and JORC Code explanation	Commentary
Drill hole Information	All geologically selected intersections and assay results above 0.5 g/t
A summary of all information material to the understanding of the	Au including 2 metres of samples below that cut‐off (accumulation >1
exploration results including a tabulation of the following information	g.m) and individual assays >10 g/t Au for DDH and RC and collar
for all Material drill holes:	information are provided in Appendix 1 to 2. Relevant plans, cross‐
 easting and northing of the drill hole collar	sections and longitudinal projections are found in the body text and
 elevation or RL (Reduced Level - elevation above sea level in	Appendix 1.
metres) of the drill hole collar
 dip and azimuth of the hole
 down hole length and interception depth
 hole 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	No top cuts have been applied to the reporting of the assay results.
In reporting Exploration Results, weighting averaging techniques,	Intersections lengths and grades for all holes are reported as down‐hole
maximum and/or minimum grade truncations (eg cutting of high	length‐weighted averages of grades above a cut‐off and may include up
grades) and cut‐off grades are usually Material and should be stated.	to 2 m (cut‐offs of 0.3 g/t Au and higher) of grades below that cut‐off.
	Cut‐offs of 0.1, 0.5, 1.0 and/or 5.0 g/t Au are used depending on the
	drill type and results. Individual grades > 10 g/t Au are also reported.
Where aggregate intercepts incorporate short lengths of high grade	Intersections lengths and grades are reported as down‐hole length‐
results and longer lengths of low grade results, the procedure used for	weighted averages of grades above a cut‐off and may include up to 2 m
such aggregation should be stated and some typical examples of such	(cut‐offs of 0.3 g/t Au and higher) of grades below that cut‐off.
aggregations should be shown in detail.
The assumptions used for any reporting of metal equivalent values	No metal equivalent values are used.
should be clearly stated.
Relationship between mineralisation widths and intercept lengths	Yaffler South: Drill hole intersections are reported down hole as strike
These relationships are particularly important in the reporting of	of mineralisation is interpreted to be perpendicular to the strike of
Exploration Results.	drilling and the amount and density of drilling completed does not allow
If the geometry of the mineralisation with respect to the drill hole angle	for a true width to be determined. All results are reported as don hole
is known, its nature should be reported.	length, true width not known.
If it is not known and only the down hole lengths are reported, there	Rocha: Due to density of drilling and unknown orientation of
should be a clear statement to this effect (eg 'down hole length, true	mineralisation, all results are reported as don hole length, true width
width not known').	not known.
	Fortuna: Due to density of drilling and unknown orientation of
	mineralisation, all results are reported as don hole length, true width
	not known.
	Gruyere: Mineralisation is hosted within a steep east‐dipping, N‐S
	striking porphyry. The porphyry is mineralised almost ubiquitously at
	greater than 0.3 g/t Au and is characterised by pervasive sub‐vertical
	shear fabrics and sericite‐chlorite‐biotite‐albite alteration with
	accessory sulphides dominated by pyrite‐pyrrhotite‐arsenopyrite.
	Higher grade zones occur in alteration packages characterised by albite‐
	pyrrhotite‐arsenopyrite alteration and quartz and quartz‐carbonate
	veining. These vein packages dip at approximately ‐450 to the SSE, with
	strike extents of over 100 m.
	The general drill direction of 600 to 2700 is approximately perpendicular
	to the main alteration packages and is a suitable drilling direction to
	avoid directional biases.
Diagrams	Refer to Figures and Tables in the body of this and previous ASX
Appropriate maps and sections (with scales) and tabulations of	announcements.
intercepts should be included for any significant discovery being
reported. These should include, but not be limited to a plan view of drill
hole collar locations and appropriate sectional views.
Balanced reporting	Intersections lengths and grades for all holes are reported as down‐hole
Where comprehensive reporting of all Exploration Results is not	length‐weighted averages of grades above a cut‐off and may include up
practicable, representative reporting of both low and high grades	to 2 m (cut‐offs of 0.3 g/t Au and higher) of grades below that cut‐off.
and/or widths should be practiced to avoid misleading reporting of	Cut‐offs of 0.1, 0.3, 0.5, 1.0 and/or 5.0 g/t Au are used depending on
Exploration Results.	the drill type and results. Individual grades > 10 g/t Au are also
	reported.
	Numbers of drill holes and metres are included in table form in the body
	of the report.

Page 22 of 23

Criteria and JORC Code explanation	Commentary
Other substantive exploration data	Nothing to report.
Other exploration data, if meaningful and 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.
Further work	Yaffler South (Warbler): Evaluation of drilling results to be undertaken
The nature and scale of planned further work (eg tests for lateral	and follow up activity planned for 2020.
extensions or depth extensions or large‐scale step‐out drilling).	Rocha: Evaluation of results and exploration targeting based on
Diagrams clearly highlighting the areas of possible extensions, including	interpretation.
the main geological interpretations and future drilling areas, provided	Fortuna: Evaluation of results and exploration targeting based on
this information is not commercially sensitive.	interpretation.
	Gruyere: All drilling has been completed and resource update pending.

Page 23 of 23