Lefroy Exploration : Maiden Drilling Program Intersects Gold at Hang Glider

ASX RELEASE-29 November 2019

Maiden Drilling Program Intersects

Gold at Hang Glider Hill

• An early stage three-hole diamond drilling program completed at the Hang Glider Hill gold prospect has intersected visible gold in the first hole 19HGDD001
• Significant shallow gold intersections in hole 19HGDD001 include:

1. 6.8m @ 1.86g/t Au from 53.7m incl. 1.05m @ 7.42g/t Au

• 1. 7.68m @ 0.66g/t Au from 44m
• The gold mineralisation is hosted by quartz-carbonate veins that cross cut a highly deformed, flat dipping, north-westerly trending package of highly altered rocks interpreted to be proximal to the Mount Monger Fault
• The Mt Monger Fault is a regional scale fault that appears to be a major influence on gold mineralisation at Hang Glider Hill and Lucky Strike, 17km to the south east
• The Hang Glider Hill prospect was initially recognised by the discovery of gold nuggets over a 2000m long north-westerly trend in 2018 and is supported by gold anomalies in auger surface sample results
• This new gold discovery complements the growing gold prospect portfolio at the Lefroy Gold Project, which now includes Lucky Strike, Zanex, Havelock and Red Dale

Figure 1 Gold grain in drill core interval 47.08m to 47.36m from 19HGDD001 (red circle diameter 1cm)

ASX Code: LEX	Australian Registered Office	E: [e-mail]
T: [phone]
Shares on Issue: 100.5M	Level 2, 11 Ventnor Avenue
ARBN: 052 123 930
Market Capitalisation: $19.5m	West Perth, 6005
		www.lefroyex.com

ASX Announcement

29 November 2019

Lefroy Exploration Limited (ASX: LEX) ("Lefroy" or "the Company") is pleased to announce results from a recently completed diamond drilling (DD) program at the Hang Glider Hill ("Hang Glider" or "HGH") prospect, located within the Lefroy Gold Project. The three angled holes were designed to evaluate the geology beneath the topographical feature known as Hang Glider Hill and constitute the maiden drilling by Lefroy at this developing gold prospect.

Hang Glider is located approximately 8km south west of the high-grade Daisy Milano underground mine operated by Silver Lake Resources (ASX: SLR), and central to three operating gold plants at Jubilee, St Ives and Randalls. Each of these plants is within 35km of HGH.

The Hang Glider Hill prospect is located close to the interpreted position of the regional scale Mt Monger Fault, along which (some 17km along strike to the south east) the Company continues to enhance the high-grade Lucky Strike prospect (Figure 2). HGH was recognised by the Company in early 2018 following the discovery of numerous gold nuggets (LEX:ASX 26 June 2018) and the definition of a north-westerly gold trend subsequently defined by surface sampling extending 2.3km from the original HGH nugget find.

Figure 2 Lefroy Gold Project showing Eastern and Western Lefroy sub projects and the location of Hang Glider Hill relative to Lucky Strike prospect, Daisy Milano and St Ives. Refer to Figure 3 for inset map.

ASX Announcement

29 November 2019

Drill Program

The primary focus of the diamond drill program was to provide information for a geological model to allow planning of future diamond, RC and aircore drilling. The prominent topographic feature, known as Hang Glider Hill, consists of a shallowly south dipping, strongly deformed sequence of interpreted metasediment, intermediate volcanics and ultramafics that is intruded by feldspar porphyry. This sequence is cross cut by later upright northerly trending quartz-carbonate veins. Gold nuggets have been found in close proximity to the Hill, and also up to 2km along strike (refer LEX:ASX release 27 September 2018), and are interpreted to be derived from a primary source.

Figure 3 Interpreted geological map of the Hang Glider Hill area and extent of LEX tenement package. Refer to Figure 4 for drilling inset map.

Three angled diamond holes were drilled on three drill sections spaced 80m apart. They were sited at the base of the south side of the hill (Figure 4) and evaluated 160m of strike. The first hole, 19HGDD001, was drilled to a depth of 258.6m. The rock sequence intersected guided the depths in the subsequent holes drilled on sections 80m either side. Diamond core drilling was commenced from surface for each hole to ensure collection of core through the shallow oxide (saprolite) zone (refer Figure 4).

Each of the holes intersected a similar geological sequence comprising a shallow oxide zone, and a strongly deformed or sheared zone. These are in contact with a lower, relatively undeformed sequence of biotite altered intermediate volcanic and sedimentary rocks, that includes black shale.

ASX Announcement

29 November 2019

The sheared zone comprises a highly deformed and altered mixed rock sequence that includes interpreted intermediate volcanic rocks, talc-altered ultramafic and feldspar porphyry over a downhole width of approximately 40m. This south flat dipping sheared sequence has a relatively sharp contact with the underlying relatively undeformed intermediate volcanic package and is interpreted to represent a thrust.

The shear zone is also characterised by later stage cross cutting, near vertical quartz veins (Figure 5). Visible gold (VG) was found in one of these quartz veins in hole 19HGDD001 (Figure 1).

The results from this early stage diamond drilling (Table 1) have confirmed gold mineralisation within the sheared and quartz veined rock package in hole 19HGDD001. The diamond holes 80m along strike either side of 19HGDD001 intersected a similar geological sequence but were not significantly mineralised.

Significant results returned from 19HGDD001 (Table 1) include: -

1. 6.8m @ 1.86g/t Au from 53.7m

1. 7.68m @ 0.66g/t Au from 44m (includes VG)

Figure 4 Left Image drill hole and tenement plan. Recent diamond holes annotated and historical (1993) drilling depicted as circles. Right Image Drill section for hole 19HGDD001.

ASX Announcement

29 November 2019

Figure 5 Drill core from 54.07m to 58.80m in 19HGDD001 highlighting mineralised cross cutting quartz veins and grade intervals.

Discussion and Next Steps

The results from the three diamond drill holes have for the first time provided important geological and structural information at Hang Glider Hill that will assist in refining the geological model. In addition, the drilling has discovered a new geological setting that is gold mineralised.

The three diamond holes provide key geological information of the rock package in fresh rock (primary zone) and reinforce the gold prospectivity of the area. This information can now be placed in context with a number of other geological indicators that the Company has been acquiring and building upon since early 2018. In particular, these include the distribution and coincidence of gold nuggets with a gold anomaly defined from auger sampling over a 2km strike length north west from HGH.

The developing geological model and, in particular, the shear zone with cross-cutting gold mineralised quartz veins, provides the Company with a distinctive target horizon and opportunity to focus further exploration that will include drilling. The Company holds approximately 4km of the interpreted structure extending north west from HGH under granted title. A key target area for future drilling is at the north western nugget patch (refer Figure 6) where weathered rock outcrops display similar characteristics to that observed at HGH.

Planning of the next stage of drilling activity is underway. This will include auger drilling to both infill the existing grid, but also to extend to the north west into tenure (Figure 3) only granted this year. The auger drilling is expected to commence in the March quarter of 2020.

The Company has commenced a detailed geological mapping program focused along the trend. This work will incorporate assessment and inclusion of mapping conducted by previous exploration companies that were focused on nickel, including WMC and BHP during the 1970's and 1980's.

Integration of the results from the geological mapping, the auger drilling and incorporating knowledge from the recent diamond drilling will guide a focused drilling program along the 4km trend that will include a combination of air core, reverse circulation and diamond drilling.

ASX Announcement

29 November 2019

Background-Hang Glider Hill

HGH is located in the north west region of the Company's Lefroy Gold Project ("LGP" or "Project"), approximately 50km to the south east of Kalgoorlie. It is part of the Eastern Lefroy package of tenements which covers 226km2. Tenements are wholly owned by LEX and not subject to any farm-in agreements.

The LGP is referenced in two packages i.e.

• Eastern Lefroy covering 226km2 of wholly owned tenements including Lucky Strike, Red Dale, Havelock, Hang Glider, Neon and other sub-projects along or adjacent to the regional Mt Monger fault; and
• Western Lefroy JV tenements covering 372km2 adjoining the St Ives gold camp that are subject to a Farmin and Joint Venture agreement with Gold Fields Limited ("Gold Fields").

The Eastern Lefroy tenements are proximate to the regional Mt Monger Fault (Figure 2), which is considered to be structurally analogous to other major regional faults in the Kalgoorlie terrain (e.g. Boulder Lefroy Fault). The Company considers areas around the Mt Monger Fault to be prospective for large gold deposits and hence these areas are a major focus for exploration by the Company.

HGH has been the focus of reconnaissance stage exploration since early 2018 following the discovery of numerous gold nuggets (LEX:ASX 26 June 2018) and preliminary definition of a north-westerly trend extending 2.3km from the original HGH nugget find. The Company considers the gold nuggets (Figure 6) to be a surface geochemical anomaly.

In September 2018 the Company completed an early stage auger drilling program as an initial exploration search tool along the trend. A total of 266 samples were collected at 50m centres along 200m spaced east west lines that effectively cover approximately 2000m of strike.

The results of the sampling (ASX: LEX 6 November 2018) defined northern and southern zones of gold anomalism (plus 20ppb Au) around the interpreted position of the Mt Monger Fault. The zones are coincident with the locations of the discovered gold nuggets. The northern anomaly consists of three subparallel trends with a strike of up to 880m. The southern anomaly is centered about Hang Glider hill (a linear topographical feature) and is a coherent anomaly over a 680m strike length. The anomaly has four sample points exceeding 50ppb Au, with a peak of 82ppb.

The HGH trend is consistent with a north west trending sub-cropping sequence of deformed ultramafic, chert and metasediments that dip to the south west at approximately 50 degrees. The sequence is cross cut by quartz veins and intruded in isolated locations by feldspar porphyry.

Figure 6 Selection of gold nuggets found at Hang Glider Hill (source LEX: ASX release 27 September 2018)

ASX Announcement

29 November 2019

About Lefroy Exploration Limited and the Lefroy Gold Project

Lefroy Exploration Limited is a WA based and focused explorer taking a disciplined methodical and conceptual approach in the search for high value gold deposits in the Yilgarn Block of Western Australia. Key projects include the Lefroy Gold Project to the south east of Kalgoorlie and the Lake Johnston Project 120km to the west of Norseman.

The 100% owned Lefroy Gold Project contains mainly granted tenure and covers 598km2 in the heart of the world class gold production area between Kalgoorlie and Norseman. The Project is in close proximity to Gold Fields' St Ives gold camp, which contains the Invincible gold mine located in Lake Lefroy and is also immediately south of Silver Lake Resources' (ASX:SLR) Daisy Milano gold mining operation. The Project is divided into the Western Lefroy package, subject to a Farm-In Agreement with Gold Fields and the Eastern Lefroy package (100% Lefroy owned). The Farm-In Agreement with Gold Fields over the Western Lefroy tenement package commenced on 7 June 2018. Gold Fields can earn up to a 70% interest in the package by spending up to a total of $25million on exploration activities within 6 years of the commencement date.

Location of the Lefroy Gold Project relative to Kalgoorlie and the Western Lefroy tenement package subject to the Gold Fields joint venture.

For Further Information please contact:

Wade Johnson

Managing Director

Telephone: [phone]

Email:[e-mail]

ASX Announcement

29 November 2019

Table 1: 2019 Diamond Drilling-Eastern Lefroy Gold Project-Hang Glider Hill Prospect

Diamond drill hole intersections tabulated below are calculated with a 0.25g/t Au lower cut for the entire drill program. The intercepts represent the intersections from individual consecutive core sample results that vary in length between 0.2m to 1.2m, but nominally 1m and include a maximum of 2m of internal dilution.

	Collar E	Collar N		Depth	Dip	Azimuth	Depth	Depth To	Downhole	Au Value
Hole ID	Collar RL	Intersectio
	(MGA)	(MGA)		(m)			From (m)	(m)	n (m)	(g/t)
19HGDD001	389357.97	6565063.54	372.12	258.6	-50	20	0.00	0.80	0.80	0.28
19HGDD001	389357.97	6565063.54	372.12	258.6	-50	20	35.00	36.97	1.97	0.56
19HGDD001	389357.97	6565063.54	372.12	258.6	-50	20	43.99	51.67	7.68	0.66
									VG @ 47.3m
19HGDD001	389358	6565063.5	372.12	258.6	-50	20	53.70	60.50	6.80	1.86
		Including				57	58.05	1.05	7.42
									VG @ 60.25m
19HGDD001	389357.97	6565063.54	372.12	258.6	-50	20	64.00	66.00	2.00	1.02
19HGDD002	389435.77	6565026.50	372.09	171.7	-50	25	69.4	70.07	0.67	0.41
19HGDD003	389291.13	6565094.13	371.80	150.7	-55	20		NSR

*Notes Specific-ASX Announcements

The following announcements were lodged with the ASX and further details (including supporting JORC Reporting Tables) for each of the sections noted in this Announcement can be found in the following releases. Note that these announcements are not the only announcements released to the ASX by the Company but specific to Hang Glider Hill.

• Exploration Update: New Gold Prospect Identified: 26 June 2018
• Exploration Update: Drilling Commenced at Capstan: 27 July 2018
• Exploration Update: Eastern and Western Lefroy Projects: 6 August 2018
• June 2018 Quarterly Activities Report: 31 July 2018
• Exploration Progress Eastern and Western Lefroy Projects: 3 September 2018
• Auger Drilling Commenced at Hang Glider Hill: 27 September 2018
• Exploration Update Drilling Programs Completed at Eastern Lefroy: 18 October 2018
• September 2018 Quarterly Activities Report: 29 October 2018
• Surface Gold Anomaly Enhances Hang Glider Hill Trend: 6 November 2018

The information in this announcement that relates to exploration targets and exploration results is based on information compiled by Wade Johnson a competent person who is a member of the Australian Institute of Geoscientists (AIG). Wade Johnson is employed by Lefroy Exploration Limited. Wade has sufficient experience that is relevant to the style of mineralisation and type of deposits under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 edition of the JORC Code. Wade Johnson consents to the inclusion in this announcement of the matters based on his work in the form and context in which it appears.

JORC CODE, 2012 Edition-Table 1 Report -Lefroy Project -Hang Glider Hill Prospect October 2019 Diamond Drilling

SECTION 1: SAMPLING TECHNIQUES AND DATA

Criteria		JORC Code Explanation			Commentary
Sampling	•	Nature and quality of sampling (eg cut	•	The sampling noted in this release has been carried out
techniques		channels, random chips, or specific		using Diamond drilling (DD) at the Hang Glider Hill prospect.
		specialised industry standard measurement		The DD program comprised 3 angled holes for 581m. Holes
		tools appropriate to the minerals under		varying in depth from 150.1m to 258.6m with an average
		investigation, such as down hole gamma		depth of 194m. Holes 19HGDD001 and 19HGDD002 were
		sondes, or handheld XRF instruments, etc).		drilled at -500 toward 0200 and 0250 azimuth with
		These examples should not be taken as		19HGDD003 drilled at -550 toward 0200 azimuth. Holes were
		limiting the broad meaning of sampling.		drilled approximately 80m apart along a north-west strike.
	• Include reference to measures taken to
	•	Sampling and QAQC protocols as per industry best practice
		ensure sample representivity and the
			with further details below.
		appropriate calibration of any measurement
		•	DD was conducted utilising triple tube HQ sized core to
		tools or systems used.		obtain the highest quality sample and to minimise core loss
	• Aspects of the determination of
		through the saprolite before transitioning to NQ sized core
		mineralisation that are Material to the
			once the ground became competent. This was left to
		Public Report. In cases where 'industry
			drillers' discretion. Core was collected in core trays where it
		standard' work has been done this would be
			was marked up and logged by the supervising geologist. It
		relatively simple (eg 'reverse circulation
			was noted the there was excellent core recovery and only
		drilling was used to obtain 1 m samples from
			minor zones	of core loss which were recorded by the
		which 3 kg was pulverised to produce a 30 g
			geologist. Samples were first cut in half using an Almonte
		charge for fire assay'). In other cases more
			core saw and collected in calico bags with a minimum
		explanation may be required, such as where
		there is coarse gold that has inherent		sample width of 0.2m and a maximum 1.2m to produce a 2-
		sampling problems. Unusual commodities or		4kg sample through the interpreted mineralised zone. Once
		mineralisation types (eg submarine nodules)		at the lab samples were dried, crushed and prepared to
		may warrant disclosure of detailed		produce a 40g charge for fire assay analysis for gold (Au) by
		information.		Atomic Absorption Spectrometry (AAS).
Drilling	•	Drill type (eg core, reverse circulation, open-	•	The diamond drilling (DD) was completed by Raglan Drilling
techniques		hole hammer, rotary air blast, auger,		(Kalgoorlie).	HQ triple tube was used to preserve core
		Bangka, sonic, etc) and details (eg core		integrity and obtain accurate bottom of hole orientation
		diameter, triple or standard tube, depth of		marks. Once the driller decided the ground was competent
		diamond tails, face-sampling bit or other		enough, NQ sized core was used.
		type, whether core is oriented and if so, by
		what method, etc).
Drill sample	•	Method of recording and assessing core and	•	Diamond core was measured and compared to drilled
recovery		chip sample recoveries and results assessed.		interval indicated by the drillers. From this, a percentage of
	• Measures taken to maximise sample		recovery can be calculated. Recovery in oxide material
		recovery and ensure representative nature of		varied, however where core loss occurred this has been
		the samples.		diligently noted by the drill crew and geologist.
	•	Whether a relationship exists between	•	The use of professional and competent core drilling
		sample recovery and grade and whether		contractors minimised the issues with sample recoveries. An
		sample bias may have occurred due to		honest and open line of communication between the drill
		preferential loss/gain of fine/coarse		crew and the geologist allowed for a comprehensive
		material.		understanding of where core loss may have occurred.
			• Core recovery in the oxide material was often excellent,
				therefore, no significant bias is expected.
Logging	•	Whether core and chip samples have been	•	Detailed logging of, regolith, lithology, structure, veining,
		geologically and geotechnically logged to a		alteration, mineralisation and recoveries recorded in each
		level of detail to support appropriate		hole by qualified geologist.
		Mineral Resource estimation, mining studies	•	Every hole was logged for the entire length.
		and metallurgical studies.	•	Diamond core underwent detailed logging through the
	• Whether logging is qualitative or
		entire hole with data being transferred to the Lefroy drilling
		quantitative in nature. Core (or costean,
			database after capture
		channel, etc) photography.
		•	Analysis of rock type, colour, structure, alteration, veining
	• The total length and percentage of the
		and geotechnical data were all routinely collected.
		relevant intersections logged.
		•	Geological logging is qualitative in nature and relies on the
				geologist logging the hole to make assumptions of the core
				character based on their experience and knowledge.
			• Recovery, RQD (rock quality designation) and magnetic
				susceptibility measurements were recorded and are
				considered to be quantitative in nature.
			• Core within the core trays for each hole was photographed
				using a purpose made camera stand and a quality digital SLR
				camera and stored in the database.
			• All drill holes were logged in their entirety (100%).

Criteria		JORC Code Explanation		Commentary
Sub-sampling	•	If core, whether cut or sawn and whether	•	Half core sampling was conducted with core cut using an
techniques and		quarter, half or all core taken.		Almonte core saw.
sample	•	If non-core, whether riffled, tube sampled,	•	Where a bottom of hole orientation line was drawn on the
preparation		rotary split, etc and whether sampled wet or		core, this was also used as a guide to cutting the core,
		dry.		ensuring that the same (right hand) side of core was
	• For all sample types, the nature, quality and		sampled. Where no orientation line existed, core was joined
		appropriateness of the sample preparation		up in the trays as accurately as possible and an interpreted
		technique.		cut line was drawn on the core so that the same side of core
	• Quality control procedures adopted for all		was consistently sampled.
	•	Quarter core sampling was used for duplicate samples.
		sub-sampling stages to maximise
		representivity of samples.		Duplicate samples were located at the Geologist's
	• Measures taken to ensure that the sampling		discretion, usually where mineralisation was interpreted.
	•	Certified reference material (CRM) standards and blanks
		is representative of the in situ material
		collected, including for instance results for		were inserted at the geologist's discretion on a roughly 1 in
		field duplicate/second-half sampling.		20 sample bases.
	• Whether sample sizes are appropriate to the
		grain size of the material being sampled.
Quality of assay	•	The nature, quality and appropriateness of	•	Samples routinely analysed for gold using the 40gram Fire
data and		the assaying and laboratory procedures used		Assay digest method with an AAS finish at Bureau Veritas's
laboratory tests		and whether the technique is considered		Kalgoorlie Laboratory.
		partial or total.	•	Quality control process and internal laboratory checks
	• For geophysical tools, spectrometers,		demonstrate acceptable levels of	accuracy.	At	the
		handheld XRF instruments, etc, the		laboratory regular assay repeats, lab standards, checks and
		parameters used in determining the analysis		blanks were analysed.
		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.
Verification of	•	The verification of significant intersections	•	The results have been reviewed and verified by alternative
sampling and		by either independent or alternative		company personnel.
assaying		company personnel.	•	No holes were planned to twin prior drill holes.
	•	The use of twinned holes.
	•	Capture of field logging is electronic using Toughbook
	• Documentation of primary data, data entry		hardware and Logchief software. Logged data is then
		procedures, data verification, data storage		exported as an excel spreadsheet to the Company's external
		(physical and electronic) protocols.		database managers which is then loaded to the Company's
	• Discuss any adjustment to assay data.		DATASHED database and validation checks completed to
				ensure data accuracy. Assay files are received electronically
				from the laboratory and filed to the Company's server, and
				provided to the external database manager.
			•	There has been no adjustment to the assay data.		The
				primary gold (Au) field reported by the laboratory is the
				priority value used for plotting, interrogating and reporting.
Location of data	•	Accuracy and quality of surveys used to	•	Drill hole positions were surveyed using a DGPS operated by
points		locate drill holes (collar and down-hole		a third-party contracting surveyor.	The same contractor
		surveys), trenches, mine workings and other		was used once drilling was completed to pick-up collar
		locations used in Mineral Resource		positions using a DGPS. Down holes surveys were completed
		estimation.		by Raglan drill crew using a multi-shot gyro which records a
	• Specification of the grid system used.		survey every <5m down the hole.
	•	Quality and adequacy of topographic	•	Grid System - MGA94 Zone 51. Topographic elevation
		control.		captured by using the differential GPS.
Data spacing and	•	Data spacing for reporting of Exploration	•	Hole spacing at approximately 80m spaced intervals
distribution		Results.	•	Mineralisation at Hang Glider Hill appears constrained to a
	• Whether the data spacing and distribution is		highly deformed felsic to intermediate volcanic which has
		sufficient to establish the degree of		been extensively quartz-carbonate veined and biotite
		geological and grade continuity appropriate		altered. It is interpreted that this represents a thrust fault
		for the Mineral Resource and Ore Reserve		zone. The orientation of which has initially been interpreted
		estimation procedure(s) and classifications		to strike approximately north-westsouth-east, hence the
		applied.		drill orientation, however this is early stage exploration and
				geological interpretation is ongoing.
			•	Due to the fact this is early stage exploration, the first drill

Criteria	JORC Code Explanation		Commentary
Data spacing and	• Whether sample compositing has been		hole (19HGDD001) was sampled in its entirety. Sampling
distribution	applied.		obeyed standard sampling protocol with sample intervals
			controlled by the min/max intervals and geological and
			alteration boundaries. Reported assay results are
			composited into an interval where samples >0.25g/t Au with
			a maximum of 2m internal dilution are reported.
Orientation of	• Whether the orientation of sampling	•	The roughly North-East orientated drill traverses considered
data in relation to	achieves unbiased sampling of possible		effective to evaluate the roughly North-West trending
geological	structures and the extent to which this is		stratigraphy.
structure	known, considering the deposit type.	•	The drill orientation is a more effective test of "true" width
	• If the relationship between the drilling
		of the host rock due to the fact the host rock unit is striking
	orientation and the orientation of key		roughly North-West/South-East.
	mineralised structures is considered to have	•	The holes represent the first significant exploration by
	introduced a sampling bias, this should be
		Lefroy Exploration in this area and were drilled primarily to
	assessed and reported if material.
		identify the geological characteristics of the prospect. The
			holes were planned based on knowledge acquired from
			previous explorers and outcrop mapping which suggested
			the drill orientation would maximise the potential to
			intersect geology and mineralising structures at an
			orientation which was roughly perpendicular to their
			orientation. Therefore reducing the sampling bias.
Sample security	• The measures taken to ensure sample	•	Samples were bagged in labelled and numbered polyweave
	security.		or plastic bags, collected and personally delivered to the
			Bureau Veritas Laboratory (Kalgoorlie) by Company field
			personnel. Samples were then sorted and checked for
			inconsistencies against lodged Submission sheet by Bureau
			Veritas staff.
		•	Bureau Veritas checked the samples received against the
			Lefroy Exploration Limited (LEX) submission sheet to notify
			of any missing or extra samples. Following analysis, the
			sample, pulps and residues are retained by the laboratory in
			a secure storage yard.
Audits or reviews	• The results of any audits or reviews of	•	All sampling and analytical results of the drill program were
	sampling techniques and data.		reviewed by the Senior Exploration Geologist and Managing
			Director. Anomalous gold intersections were checked
			against library core photos and logging to correlate with
			geology. QAQC reports are auto generated by the database
			managers and reviewed by staff.

Section 2: REPORTING OF EXPLORATION RESULTS - LEFROY PROJECT- Hang Glider Hill - October 2019 Diamond Drilling

Criteria		JORC Code Explanation		Commentary
Mineral	•	Type, reference name/number, location and	•	The Lefroy Project is located approximately 50 km in
tenement and		ownership including agreements or material		south east from Kalgoorlie, Western Australia and
land tenure		issues with third parties such as joint		consists of a contiguous package of wholly owned
status		ventures, partnerships, overriding royalties,		tenements held under title by LEX or its wholly owned
		native title interests, historical sites,		subsidiary Monger Exploration Pty Ltd. The work
		wilderness or national park and		described in this report was completed on a
		environmental settings.		Exploration lease E 26/183.
	•	The security of the tenure held at the time of
	•	E 26/183 is held 100% by Monger Exploration Pty Ltd a
		reporting along with any known		wholly owned subsidiary of Lefroy Exploration Limited
		impediments to obtaining a licence to	•	The tenements are current and in good standing with
		operate in the area.
			the Department of Mines and Petroleum (DMP) of
				Western Australia.
Exploration	•	Acknowledgment and appraisal of	•	Previous RAB and RC drilling was conducted by
done by other		exploration by other parties.		Sovereign Resources NL in the early 1990's. Most of
parties				the work involved shallow RAB which identified gold
				anomalous results on Hang Glider Hill. This was
				followed up by deeper RC which confirmed the
				presence of gold mineralisation in a highly foliated
				felsic volcanic rock. Only early stage exploration was
				conducted and since then has received no follow up
				work. Details of this drilling sourced from WAMEX
				item A39666 (Mineral exploration reports stored as
				open-file reports by the Geological Survey of Western
				Australian) were compiled by LEX and incorporated
				into the Company's database. Given the historical
				nature of and type of drilling the Company places a
				low confidence on the data, but nevertheless used to
				guide exploration.
Geology	•	Deposit type, geological setting and style of	•	The Lefroy Project is located in the southern part of
		mineralisation.		the Norseman Wiluna Greenstone Belt and straddles
				the triple junction of three crustal units, the Parker,
				Boorara and Bulong Domain. The Lefroy project
				tenements are mostly covered by alluvial, colluvial
				and lacustrine material with very little outcrop. Hang
				Glider Hill is a topographic high thought to represent
				a thrusted fault zone of felsic to intermediate
				volcanic rocks in contact with Ultramafic and basaltic
				volcanic rocks. Gold mineralisation is associated with
				late quartz-carbonate veins within the thrust fault
				zone in the felsic to intermediate volcanic rocks. The
				prospect lies close to the GSWA's position for the
				regional Mt Monger fault with historic interpretation
				of magnetic imagery suggesting the presence of a
				roughly north-north-west strike fault referred to as
				the Isles Fault (Sovereign Resources NL, 1993).
Drill hole	•	A summary of all information material to the	•	Table containing drill hole collar, survey and
Information		understanding of the exploration results		intersection data for material (gold intersections
		including a tabulation of the following		>0.25gpt Au with a max of 2m internal dilution) drill
		information for all Material drill holes:		holes are included in the Table in the body of the
		• easting and northing of the drill hole		announcement.
		collar	•	No Information has been excluded.
		• elevation or RL (Reduced Level - elevation
		above
		sea level in 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.

Criteria	JORC Code Explanation		Commentary
Data	• In reporting Exploration Results, weighting	•	All report grades have been length weighted. High
aggregation	averaging techniques, maximum and/or		grades have not been cut. A lower cut off of 0.25gpt
methods	minimum grade truncations (eg cutting of high		Au has been used to identify significant results
	grades) and cut-off grades are usually Material		(intersections).
	and should be stated.	•	Where present, higher grade values are included in
	• Where aggregate intercepts incorporate short
		the intercepts table and assay values equal to or > 1.0
	lengths of high grade results and longer lengths		g/t Au have been stated on a separate line below the
	of low grade results, the procedure used for such		intercept assigned with the text 'includes'.
	aggregation should be stated and some typical	•	No metal equivalent values or formulas used.
	examples of such aggregations should be shown
	•	Reported diamond drill results have been results have
	in detail.
		been calculated using samples that vary in length from
	• The assumptions used for any reporting of metal
		0.2m to 1.2m but nominally 1.0m. No metal equivalent
	equivalent values should be clearly stated.
		values or formulas used.
		•	Where core loss is measured, a gold value of 0 ppm is
			applied for the length weighted interval for which this
			would apply and included in the intercept calculation
			and would count in the internal dilution.
Relationship	• These relationships are particularly important in	•	All results are based on down-hole metres.
between	the reporting of Exploration Results.	•	Previous drill coverage has provided guidance for the
mineralisation	• If the geometry of the mineralisation with		presence of low angle thrust faults dipping toward the
widths and	respect to the drill hole angle is known, its		south-west roughly discordant to the north-west strike
intercept	nature should be reported.		of the geological package. Mineralised intervals
lengths	• If it is not known and only the down hole lengths		represent a down-hole length as work on the
	are reported, there should be a clear statement		orientation of the mineralised veins is still on-going
	to this effect (eg 'down hole length, true width		and exploration is still in its infancy at Hang Glider Hill.
	not known').
Diagrams	• Appropriate maps and sections (with scales) and	•	Appropriate summary diagrams (section & plan) are
	tabulations of intercepts should be included for		included in the accompanying announcement.
	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	• Where comprehensive reporting of all	•	Significant assay results are provided in Table 1 for the
reporting	Exploration Results is not practicable,		recent LEX DD drill program.
	representative reporting of both low and high	•	Drill holes with no significant results are reported.
	grades and/or widths should be practiced to
	•	Significant assay results from historical drilling are not
	avoid misleading reporting of Exploration
		included as much of the historic drilling was rotary air
	Results.
		blast (RAB) drilling and results cannot be appropriately
			validated with confidence.
Other	• Other exploration data, if meaningful and	•	All relevant data has been included within this report.
substantive	material, should be reported including (but not
exploration data	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	• The nature and scale of planned further work	•	The appropriate next stage of exploration planning is
	(eg tests for lateral extensions or depth		currently underway and noted in the body of the
	extensions or large-scalestep-out drilling).		report.
	• Diagrams clearly highlighting the areas of
	possible extensions, including the main
	geological interpretations and future drilling
	areas, provided this information is not
	commercially sensitive.