ASX ANNOUNCEMENT

6 APRIL 2020

NEW GOLD ZONE DISCOVERY AT TANDARRA GOLD PROJECT AND

TOMORROW - MACNAUGHTAN STRUCTURE EXTENDED

  • New zone of gold mineralisation discovered (Lawry Zone), 500 metres east of Tomorrow Trend
  • Lawry Zone open to north, south and at depth
  • Gold mineralisation on the Tomorrow and Macnaughtan trends extended south by up to 1.2 kilometres
  • Highlight results include:
    • 31.0 metres @ 1.2g/t Au from 56 metres in drill hole 378, (including 1.0 metre @ 10.2g/t Au at rock refusal) (Lawry zone)
    • 2.0 metres @ 1.7g/t Au from 91 metres in drill hole 376 (Lawry Zone)
    • 3.0 metres @ 2.1g/t Au from 78 metres in drill hole 458 (Tomorrow Zone)
    • 3.0 metres @ 5.3g/t Au from 102 metres in drill hole 444 (Macnaughtan zone)
  • Programs of infill air core and confirmatory reverse circulation drilling are planned
    ____________________________________________________________________________________

Catalyst Metals Limited (Catalyst) (ASX:CYL) and Navarre Minerals Limited (Navarre) (ASX:NML) are pleased to announce the results of initial air core reconnaissance drilling testing the extensions of gold- mineralised trends towards the southern and northern boundaries of the project tenement Retention Licence (RL) 006660 (Figures 1 and 2).

RL006660 is owned in joint venture by Catalyst (51%) and Navarre (49%). Catalyst is manager of the joint venture.

The Tandarra Gold Project is situated along the Whitelaw Fault, about 40 kilometres north of Bendigo (Figure 1). The Whitelaw Fault is considered to be the major structural control of gold mineralisation at Bendigo, extending northwards to the Murray River, concealed beneath a blanket of younger, post- mineralisation sediments of the Murray Basin (Figure 1). The new zones of gold mineralisation discovered at Tandarra occur in a structural zone of folds and faults which are interpreted to intersect the Whitelaw Fault at depth (Figures 2 and 3).

RECONNAISSANCE AIR CORE DRILLING PROGRAMS

Drilling programs were undertaken beyond the limits of previous exploration to trace the gold- mineralised structural zones towards the southern and northern limits of the tenement (Figures 2 and 3).

SOUTHERN EXTENSION

86 angled air core (AC) drill holes, for a total of 9,956 metres, spaced 50 metres (E-W) along traverses spaced at approximately 200 metres (N-S) were drilled across the projection of the Tomorrow and Macnaughtan gold trends. Drilling was more closely spaced (25-30 metres) immediately south of the Tomorrow zone (Figures 2 and 3).

44 Kings Park Road, West Perth WA

6005

PO Box 778, Claremont WA 6910

Telephone: (61-8) 6263

4423

Facsimile: (61-8) 9284 5426

www.catalystmetals.com.au

ABN 54 118 912 495

  • NEWLY DISCOVERED LAWRY ZONE

Approximately 750 metres south-east of the southern end of the Tomorrow Zone, assays reveal a new zone of gold mineralisation (the Lawry Zone) on each of two traverses, 200 metres apart, which test the mineralised trend (Figure 3). The mineralisation is highlighted by a wide zone of quartz-hosted gold mineralisation in air-core hole, ACT378 which terminated, at refusal, in massive impenetrable quartz grading 10.2g/t Au.

The absence of drilling to the north and sparse drilling south leaves the mineralisation open in both directions. The structural relationship of this newly outlined mineralisation to the southern end of the Tomorrow Zone mineralisation is as yet uncertain but the success follows the targeting of reconnaissance drilling on the down-plunge extension of structures interpreted from Tomorrow Zone drilling completed in 2019.

Key intersections recorded in the Lawry Zone are as follows:

    • 31.0 metres @ 1.24g/t Au (including 5.0 metres @ 2.40g/t Au and 1 metre @ 10.15g/t Au) from 56 metres in ACT378
    • 2.0 metres @ 1.68g/t Au from 91 metres in ACT376
    • 1.0 metres @ 1.45g/t Au from 71 metres in ACT381
  • TOMORROW ZONE EXTENSION

Five hundred metres to the west of the new discovery, gold mineralisation on several traverses potentially comprises a 1,200 metre long southern extension of the Tomorrow Zone (Figure 3). This mineralisation aligns with the new body of shallow mineralisation reported to ASX on 1 July 2019 and shown in the longitudinal projection (Figure 4).

Key intersections recorded in the Tomorrow Zone extension are as follows:

    • 2.0 metres @ 1.84g/t Au from 125m and 2.0 metres @ 1.49/t Au from 69 metres in ACT373
    • 3.0 metres @ 2.1g/t Au from 78 metres in ACT458
  • MACNAUGHTAN ZONE EXTENSION

A further 200 metres to the west abundant quartz veining and Au-As assays clearly demonstrate the southerly extension by 400 metres of Macnaughtan mineralised zone, also remaining open to the south (Figure 3).

Key intersections recorded in the Macnaughtan extension zone:

  • 3.0 metres @ 5.25g/t Au from 102 metres in ACT444
  • 3.0 metres @ 2.78g/t Au from 96 metres in ACT446

Follow up drilling is proposed for each of these three zones of mineralisation identified in the current program by drilling at reconnaissance scale.

Further delineation of mineralisation to the south was prevented in all zones by the existence of a deep valley in the basement which crosses the line of structure, resulting in the thickness of cover sediments exceeding the depth capacity of the air core drilling method (Figure 3).

The reported gold values are the result of ICPMS (inductively coupled plasma mass spectroscopy) analysis of aqua regia-leached 25gm samples. Confirmatory assays of larger samples (cyanide extractable gold in 2 kg samples) will be analysed in due course. Historically, these higher-reliability analyses have confirmed ICPMS values in Tandarra drill samples.

NORTHERN EXTENSION

A similar reconnaissance program, with traverses of AC drill holes approximately 1 kilometre apart (25 holes, 2,953 metres, over approximately 7 kilometres of strike) was undertaken between the northern end of Tomorrow-Macnaughtan gold zones and a previously reported significant intersection (ACT221) in the extreme north of the lease (Figure 2).

Anomalous arsenic values (>50 parts per million) were frequently observed in drill holes along the Tomorrow-Macnaughtan trend on each traverse, as shown in Figure 2, indicating continued prospectivity for gold mineralisation, considering the association between gold and arsenic in better- mineralised areas.

Prospectivity is confirmed by the most significant result along this line - the previously reported result from drill hole ACT 221, reported to ASX on 29 July 2015, as follows:

  • 2.0 metres @ 33.1g/t Au from 129 metres in ACT221

The result is supported in the current program by a traverse 500 metres to the south, containing a recognisable anomaly:

  • 3.0 metres @ 0.2g/t Au from 99 metres in ACT384

Having regard to the wide spacing between traverses it is considered that this 7 kilometre zone warrants follow up AC drilling, albeit with a lower priority than the mineralisation outlined in the south.

Mr Bruce Kay, Catalyst's Technical Director, stated: "The discovery of high grade gold in a third mineralised structure and the demonstration of gold mineralisation in multiple zones over previously un-drilled strike lengths of more than 200 metres, remaining open to the south is a highly encouraging outcome from this first-pass program."

Full location data on the AC drill programs are shown in Appendix 1, on Tables 1 and 3 and a Summary of Sampling Techniques and Reporting of Exploration Results according to the JORC Code 2012 Edition are also tabulated in Appendix 1 Maximum gold values in each hole are tabulated in Tables 2 and 4 of Appendix 1

Next steps

Planning for follow-up phases of AC and RC drilling is underway, potentially to be undertaken during the coming quarter, subject to weather conditions through the autumn and any health and safety considerations and government restrictions arising from the COVID-19 global epidemic.

- ENDS -

Authorised for release by the Boards of Directors of Catalyst Metals Limited and Navarre Minerals Limited.

For further information contact:

Catalyst Metals Limited

Navarre Minerals Limited

Bruce Kay

Geoff McDermott

Technical Director

Managing Director

Telephone: +61 400 613 180

+61 3 5358 8625

JORC Reporting of Historic Exploration Results

Although Catalyst was not involved in previous exploration at the Tandarra Gold Project, it has elected to update the information to comply with the JORC 2012 Code. The results had been publicly reported by Leviathan Resources Pty Ltd (ASX code LVR) (December 2004 to January 2007), Perseverance Corporation Limited (ASX code PSV) (January 2008 to March 2011) and Navarre Minerals Limited (ASX code NML) (March 2011 to September 2014) in numerous announcements during the stated periods under the JORC 2004 Code. Catalyst has limited knowledge on how the data was collected but has had to make assumptions based on the available historic data generated by these companies.

Full location data on the Tandarra drill holes and a Summary of Sampling Techniques and Reporting of Exploration Results according to the JORC Code 2012 Edition were included in Catalyst's ASX announcements dated 1 September 2014, quarterly report dated 31 July 2014 and 29 July 2015.

Competent person's statement

The information in this report that relates to exploration results is based on information compiled by Mr Bruce Kay, a Competent Person, who is a Fellow of the Australasian Institute of Mining and Metallurgy. Mr Kay is a non- executive director of the Company and 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 (the JORC Code). Mr Kay consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Figure 1: Whitelaw Belt showing the location of Tandarra Project RL006660 and

other Catalyst tenements in North Central Victoria

Figure 2: RL006660 Tandarra showing Tomorrow & Macnaughtan Zones, AC drill holes completed in

northern and southern drill programs here reported, and results of the northern program

Figure 3: Drill plan for the southern AC program, showing results, main gold intersections

interpolated gold trends and depth to basement

Figure 4: Longitudinal projection of the Tomorrow Gold Zone showing intersections and location of 2019 air core, RC and diamond drill holes (blue highlight) and intersections and locations of the northernmost 2020 air core drill holes from the southern program (orange highlight)

APPENDIX 1: AIR CORE DRILLING DATA TOMORROW - MACNAUGHTAN - LAWRY SOUTH AND NORTH PROSPECTS

Table 1: Tomorrow - Macnaughtan - South & Lawry Drill Hole Locations

Easting

Northing

Total

Mag

Hole

(GDA)

(GDA)

RL

Depth

Dip

Azimuth

ACT357

247360

5971050

105

123

-70

261

ACT358

247410

5971050

105

45

-70

261

ACT359

247562

5970648

105

105

-70

261

ACT360

247760

5970457

105

92

-70

261

ACT361

247805

5970250

105

135

-90

0

ACT362

247460

5970862

105

100

-90

0

ACT363

248035

5970250

105

120

-70

261

ACT364

247460

5971244

105

127

-70

261

ACT365

247510

5971050

105

146

-70

261

ACT366

247510

5970860

105

130

-70

261

ACT367

247560

5970860

105

111

-70

261

ACT368

247966

5970050

105

129

-90

0

ACT369

247657

5970455

105

140

-70

261

ACT370

247610

5970860

105

120

-70

261

ACT371

247310

5971050

105

150

-70

261

ACT372

247660

5971050

105

107

-70

261

ACT373

247410

5970860

105

141

-70

261

ACT374

247710

5971050

105

130

-70

261

ACT375

247557

5971049

105

114

-70

261

ACT376

247760

5971050

105

145

-70

261

ACT377

247612

5971050

105

114

-70

261

ACT378

247859

5971050

105

87

-70

261

ACT379

247758

5970863

105

150

-70

261

ACT380

247810

5970865

105

150

-70

261

ACT381

247868

5970870

105

72

-70

261

ACT382

247970

5970869

105

108

-70

261

ACT383

247360

5970859

105

144

-70

261

ACT385

247810

5971050

105

123

-70

261

ACT387

247260

5971050

105

127

-70

261

ACT389

247210

5971050

105

97

-70

261

ACT390

247260

5970860

105

112

-70

261

ACT393

247310

5970860

105

115

-70

261

ACT395

247660

5970860

105

27

-70

261

ACT396

247661

5970650

105

117

-70

261

ACT397

247710

5970863

105

66

-70

261

ACT398

247710

5970650

105

120

-70

261

ACT399

247710

5970450

105

108

-70

261

ACT400

247466

5971338

105

143

-70

261

ACT401

247496

5971388

105

150

-70

261

Easting

Northing

Total

Mag

Hole

(GDA)

(GDA)

RL

Depth

Dip

Azimuth

ACT402

247526

5971338

105

127

-70

261

ACT403

247279

5971808

105

132

-70

261

ACT404

247369

5971808

105

117

-70

261

ACT405

247404

5971714

105

105

-70

261

ACT413

247374

5971714

105

105

-70

261

ACT415

247344

5971714

105

96

-70

261

ACT417

247449

5971620

105

72

-70

261

ACT419

247359

5971620

105

124

-70

261

ACT421

247389

5971620

105

148

-70

261

ACT423

247419

5971620

105

135

-70

261

ACT425

247397

5971526

105

135

-70

261

ACT427

247427

5971526

105

138

-70

261

ACT428

247457

5971526

105

129

-70

261

ACT429

247487

5971526

105

150

-70

261

ACT430

247431

5971432

105

92

-70

261

ACT431

247461

5971432

105

111

-70

261

ACT437

247610

5970650

105

123

-70

261

ACT438

247980

5971050

105

108

-70

261

ACT439

247490

5971432

105

138

-70

261

ACT440

248030

5971050

105

108

-70

261

ACT441

248016

5970860

105

105

-70

261

ACT442

247110

5971049

105

72

-70

261

ACT443

247521

5971432

105

121

-70

261

ACT444

247160

5971050

105

123

-70

261

ACT445

247253

5971809

105

108

-70

261

ACT446

247210

5970860

105

119

-70

261

ACT447

247294

5971808

105

54

-90

0

ACT448

248050

5970860

105

69

-70

261

ACT449

247299

5971714

105

124

-90

0

ACT450

247995

5970645

105

116

-70

261

ACT451

247342

5971807

105

139

-70

261

ACT452

247957

5970645

105

66

-70

261

ACT453

247372

5971526

105

96

-70

261

ACT454

247608

5970455

105

131

-70

261

ACT455

247346

5971525

105

125

-70

261

ACT456

247461

5970646

105

120

-70

261

ACT457

247333

5971617

105

138

-70

261

ACT458

247457

5970635

105

126

-70

261

ACT459

247308

5971810

105

126

-70

261

ACT460

247512

5970649

105

125

-70

261

ACT461

247287

5971718

105

141

-70

261

ACT462

247710

5970250

105

93

-70

261

Table 2: Tomorrow South Assay Results - Maximum downhole gold (ppm)

Hole

From

To

Interval

Au-TL43

Gold Zone

ACT357

68

70

2

*1.3

Tomorrow

ACT358

39

42

3

0.007

Tomorrow

ACT359

84

87

3

0.011

ACT360

Abandoned

ACT361

125

126

1

*0.013

ACT362

63

64

1

*0.01

Tomorrow

ACT363

Abandoned

ACT364

108

109

1

*0.032

Tomorrow

ACT365

42

45

3

0.01

Tomorrow

ACT366

72

75

3

0.033

Tomorrow

ACT367

99

102

3

0.008

ACT368

Abandoned

ACT369

114

117

3

*1.16

ACT370

108

111

3

0.01

ACT371

114

117

3

0.018

Macnaughtan

ACT372

105

107

2

0.006

ACT373

69

71

2

*1.49

Tomorrow

ACT373

88

89

1

*0.758

ACT373

99

100

1

*1.19

ACT373

125

127

2

*1.84

ACT373

133

134

1

*1.26

ACT374

120

123

3

0.009

ACT375

102

105

3

*0.012

ACT376

91

93

2

*1.68

Lawry

ACT377

64

65

1

*0.012

ACT378

56

87

31

*1.24

Lawry

including

60

61

1

*2.49

Lawry

including

65

70

5

*2.48

Lawry

including

75

76

1

*2.62

Lawry

including

86

87

1

*10.15

Lawry

ACT379

84

87

3

0.257

ACT380

69

70

1

*0.273

ACT381

71

72

1

*1.45

Lawry

ACT382

66

69

3

0.029

Lawry

ACT383

143

144

1

*0.398

ACT385

69

75

6

0.65

Lawry

ACT387

105

108

3

0.015

Macnaughtan

ACT389

93

96

3

0.878

Macnaughtan

ACT390

108

111

3

0.069

Macnaughtan

ACT393

67

68

1

*0.031

ACT395

Abandoned

ACT396

96

99

3

0.027

ACT397

Abandoned

Hole

From

To

Interval

Au-TL43

Gold Zone

ACT398

68

69

1

*0.256

ACT399

Abandoned

ACT400

87

90

3

0.023

ACT401

99

102

3

0.036

ACT402

108

111

3

0.065

ACT403

45

48

3

1.55

Tomorrow

ACT404

87

90

3

0.012

Tomorrow

ACT405

57

60

3

0.104

ACT413

69

72

3

0.05

Tomorrow

ACT415

56

57

1

2.87

Tomorrow

ACT417

Abandoned

ACT419

75

78

3

0.054

Tomorrow

ACT421

108

111

3

0.058

ACT423

83

84

1

0.055

ACT425

81

84

3

0.386

ACT427

69

72

3

0.118

ACT428

75

78

3

0.084

ACT429

75

78

3

0.059

ACT430

66

69

3

0.092

ACT431

54

57

3

0.015

ACT437

48

51

3

0.006

ACT438

102

105

3

0.016

ACT439

54

57

3

0.058

ACT440

63

66

3

0.02

ACT441

66

69

3

0.022

ACT442

Abandoned

ACT443

105

108

3

0.024

ACT444

102

105

3

5.25

Macnaughtan

ACT445

63

66

3

0.04

Tomorrow

ACT446

96

99

3

2.78

Tomorrow

ACT446

108

111

3

1.3

Macnaughtan

ACT447

51

54

3

0.007

Tomorrow

ACT448

Abandoned

ACT449

51

54

3

0.527

Tomorrow

ACT450

96

99

3

0.127

Lawry

ACT451

54

57

3

0.039

Tomorrow

ACT452

Abandoned

ACT453

75

78

3

0.092

Tomorrow

ACT454

99

102

3

0.009

ACT455

99

102

3

0.164

Tomorrow

ACT456

84

87

3

0.074

Tomorrow

ACT457

75

78

3

0.671

Tomorrow

Hole

From

To

Interval

Au-TL43

Gold Zone

ACT458

78

81

3

2.1

Tomorrow

ACT459

63

66

3

0.053

Tomorrow

ACT460

93

96

3

0.046

Tomorrow

ACT461

60

63

3

0.918

Tomorrow

ACT461

72

81

9

0.41

Tomorrow

ACT462

Abandoned

(*one-metre uncomposited samples, otherwise 3m composites)

(Holes to which no zone is allocated either failed to reach basement or are positioned between zones)

Table 3: Tomorrow North Drill Hole Locations

Easting

Northing

Total

Mag

Hole

(GDA)

(GDA)

RL

Depth

Dip

Azimuth

ACT384

245701

5980237

105

135

-90

0

ACT386

246102

5980239

105

93

-90

0

ACT388

246020

5980235

105

156

-90

0

ACT391

245900

5980238

105

150

-90

0

ACT392

245798

5980230

105

144

-90

0

ACT394

245947

5978718

105

153

-90

0

ACT406

246048

5978717

105

129

-90

0

ACT407

245893

5977565

105

102

-90

0

ACT408

245990

5977565

105

99

-90

0

ACT409

246092

5977570

105

144

-90

0

ACT410

246190

5977573

105

114

-90

0

ACT411

246293

5977575

105

126

-90

0

ACT412

245803

5977565

105

108

-90

0

ACT414

245695

5977590

105

123

-90

0

ACT416

246563

5975448

105

120

-70

261

ACT418

246647

5975451

105

111

-70

261

ACT420

246750

5975448

105

114

-70

261

ACT422

246851

5975449

105

105

-70

261

ACT424

245850

5974895

105

108

-70

261

ACT426

245949

5974898

105

126

-70

261

ACT432

246051

5974897

105

96

-70

261

ACT433

246150

5974930

105

118

-70

261

ACT434

246249

5974905

105

117

-70

261

ACT435

246358

5974910

105

93

-70

261

ACT436

246049

5974849

105

69

-70

261

Table 4: Tomorrow North Assay Results (three-metre composited samples)

Gold (Au-

TL43)

HOLE_ID

FROM

TO

Interval

ppm

ACT384

99

102

3

0.244

ACT386

Abandoned

ACT388

134

135

1

0.111

ACT391

141

144

3

0.003

ACT392

141

144

3

0.048

ACT394

141

144

3

0.003

ACT396

Abandoned

ACT406

Assay in prog

ACT407

Assay in prog

ACT408

Assay in prog

ACT409

141

144

3

0.022

ACT410

93

96

3

0.004

ACT411

99

102

3

0.007

ACT412

99

102

3

0.093

ACT414

90

93

3

0.008

ACT416

84

87

3

0.015

ACT418

59

60

1

0.002

ACT420

102

105

3

0.032

ACT422

75

78

3

0.024

ACT424

77

78

1

0.069

ACT426

90

93

3

0.08

ACT432

Abandoned

ACT433

117

118

1

0.015

ACT434

66

69

3

0.011

ACT435

57

60

3

0.004

ACT436

Abandoned

JORC 2012 Edition, Table 1 Checklist: Aircore Drilling

Aircore Sampling Techniques

and Data

Criteria

Explanation

Sampling techniques

Samples collected at cyclone at one-metre intervals

Cover sequence samples collected nominally from 6m above

basement in individual numbered plastic bags ; basement

material samples collected in individual numbered plastic bags;

chip trays collected by hand from cyclone and bags at 1m

intervals for full length of hole (uncomposited)

Assay laboratory samples collected by hand from bags into

calico sample bags to a mass of <3kg (composited to three-

metre intervals corresponding with drill rods).

Cover sequence is understood to potentially contain alluvial

gold immediately above the basement, and thus such cover

samples are submitted for assay.

Drilling techniques

Three-inch diameter AC blade drill bit; three-metre RC drill

rods; truck-mounted drill rig; 300psi 700cfm compressor and

350psi 1100cfm auxiliary compressor

All holes are uncased

Penetration into basement to depth of bit refusal against quartz

or fresh rock.

Drill sample recovery

AC drilling provides a high variability in sample recovery, due to

low pressures of equipment and common groundwater effects.

Sample water content assessed by rig geologist as being

dry/moist/wet

Calico bag masses recorded by commercial laboratory

Geological control is maintained at the drill site at all times, to

ensure drilling and sampling standards maintained.

Logging

Chip samples are geologically logged at 1m intervals for

lithology, alteration, quartz veining and to a standard

acceptable for subsequent interpretation for use in estimation.

Logging aspects are qualitative with exception of quartz vein

content which is estimated semi-quantitatively

All logged intervals represent entire one-metre sample

segregation intervals

Aircore Sampling Techniques

and Data

Criteria

Explanation

Sub-sampling techniques

Three metre samples selected (composited) by hand-grab at

and sample preparation

drill site when materials were dry, moist, or wet.

Samples dispatched to commercial laboratory (Catalyst have

used ALS Pty Ltd exclusively); samples dried and pulverised in

entirety, with 25g aliquot split for analysis (laboratory repeat

splits historically demonstrate acceptable reproducibility and

hence accuracy for this mineralisation)

A Certified Reference Material (low-level gold standard) from

OREAS is inserted in the sample series for each drill hole,

resulting in a CRM density of >1:20.

In addition to laboratory assays, 1-metre grab samples are

collected in plastic snap-lock bags from 0-6m downhole, and

from nominally 6m above the basement contact to the end of

the hole and assayed in-house using a portable Niton XRF

analyser. Arsenic in particular is used as a pathfinder to guide

ongoing exploration.

Quality of assay data and

Gold assay determined by ICPMS via aqua regia digestion with a

laboratory tests

1ppb lower limit of detection (ALS code Au-TL43). Experience

has shown this method to be applicable for fine grained gold

mineralisation due to near-complete digestion. There is a

technical constraint in that coarse-grained gold may not

completely enter solution resulting in conservative assay.

Where the 3m composite samples are anomalous in Au and/or

As, 1-metre resamples are taken from the bulk cyclone bags

and re-submitted to ALS for Au by method AuTL-43 as above. If

the 1m resamples show high variance for gold against the 3m

composites, selected 1m lab pulps are re-assayed by bulk

cyanide leach to minimise any nugget effect.

Verification of sampling

Data management is done in-house and has been performed by

and assaying

an experienced individual and not by several individuals.

There has been no verification of significant intersections by

independent or alternative company personnel.

There has been no drill hole twinning to verify results.

Drill hole sampling and geological data are logged onto paper in

preparation for database data entry.

There have been no adjustments to data as provided by the

commercial assay laboratory.

Location of data points

Drill hole collars are surveyed by 12-channel GPS to MGA94

Zone 55 and AHD estimated from terrain model created from

publicly available land survey data

Collar locations to within an estimated precision of 5m at worst.

No drill holes were downhole surveyed, as such holes are

assumed to be angled at the specified dip and azimuth

Aircore Sampling Techniques

and Data

Criteria

Explanation

Data spacing and

Air core drilling was completed within open farmland providing

distribution

a) in the southern program, traverses generally 100-200m apart

with hole spacings from 25-50 metre centres on the traverse;

and

b) in the northern program, traverses 1-2 kilometre apart with

hole spacings at 100 metre centres along the traverse

One-metre samples were composited to three-metre sub

samples for the purpose of submission to the laboratory. For

the purpose of reporting, assays have been aggregated to

reflect continuously sampled zones of significant anomalism for

gold.

Orientation of data in

Drill hole traverses are grid east-west. The lithology and

relation to geological

regional antiforms and fault structures strike approx. 330

structure

degrees, hence the drilling intersects the assumed strike of the

mineralisation about 30 degrees from orthogonal. Most holes

are angled 70 degrees to the grid west to achieve penetration

across the prospective eastern limbs and fold axes of the

anticlines but where spacings are wide or desired collar

positions unavailable due to farm infrastructure, some are

drilled vertically (details recorded in tables 1 and 3).

Sample security

All samples are controlled by the responsible geologist and

stored in a secured facility prior to despatch to laboratory.

Samples are plastic wrapped on pallets and transported directly

to laboratory by a commercial transportation contractor with

chain-of-custody protocols in place.

Sample number receipt information from laboratory is cross-

referenced and rationalised against sample number dispatch

information.

Audits or reviews

No processes or data used in developing the release of

exploration results have been subject to audit or review by non-

company personnel or contractors so as to reduce costs and

timelines for reporting. Catalyst Metals Limited currently

reserves this process for release of Mineral Resource and Ore

Reserve estimates.

Reporting of Exploration Results

Criteria

Explanation

Mineral tenement and land tenure

The Tandarra gold prospect is located within RL006660 (51% Catalyst

status

Metals Ltd and 49% Navarre Minerals Ltd situated 45 km north of

Bendigo

Exploration done by other parties

Minor first-pass exploration drilling has been carried out by JV partner

Navarre Minerals prior to the Catalyst JV. This data is incorporated into

the JV database.

Geology

The targets are hosted by NNW-striking Ordovician sediments considered

to be northern extensions of the Bendigo goldfield. The gold

mineralisation discovered below the cover in RL006660 at Tomorrow and

Macnaughtan Zones (Figures 2 and 3), occur in a structural zone of folds

and faults which parallel the Whitelaw Fault (Figure 2). The features

tested are extensions of known Au-As mineralised trends defined by

earlier exploration drilling.

Drill hole Information

Appendix 1 Table 1 & 3: Collar location coordinates, downhole depths,

azimuths, declinations.

Appendix 1, Tables 2 & 4: Downhole intervals of reported gold grades.

Holes without significant gold grades will be quantified with their

maximum downhole gold grades

Data aggregation methods

AC drill hole samples are composited to three metres in the first instance.

Subsequent resampling of anomalous composites is performed on a one-

metre sample interval basis.

No top-cutting applied to assay data.

Zones of significance identified as those with assays in excess of 0.5g/t Au

(with internal dilution of two consecutive assays or less) and/or in excess

of 50ppm As.

Reported zones are continuous, with no sample or assay gaps.

Holes without zones of significance are tabulated detailing the greatest

assay value achieved.

Relationship between mineralisation

The dip of mineralisation is expected to be both east-dipping and west-

widths and intercept lengths

dipping as was the case in the Bendigo Goldfield and elsewhere at

Tandarra.

The dip of mineralisation has not been definitively proven, and the true

width of mineralisation has not been resolved. As such, significant

mineralised intersections have been reported as downhole intervals.

Diagrams

Figure 1 shows the position of the Tandarra Project.

Balanced reporting

All drilling inclusive of holes which did not contain significant

intersections are included in Tables 2 & 4

Other substantive exploration data

No other exploration results that have not previously been reported, are

material to this report.

Further work

Further aircore drilling is warranted to infill and extend the gold zones

delineated at Tomorrow South, Macnaughtans, and the new Lawry zone

east of the Tomorrow trend. Reverse Circulation and Diamond Drilling

would follow to test the mineralisation at depth subject to ongoing

results.

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Navarre Minerals Limited published this content on 06 April 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 April 2020 23:35:06 UTC