4 March 2021

The Manager

Market Announcements Office Level 40, Central Park

152-158 St Georges Terrace PERTH WA 6000

AVW - WYLOO COPPER GOLD PROJECT

HIGHLIGHTS

  • ➢ Avira has identified and pegged a series of exploration tenements totaling 179 sub blocks (collectively the Wyloo Copper/Gold Project) located in the Ashburton region of Western Australia.

  • ➢ The Wyloo project consists of 586km2 of tenure in five Exploration License Applications (E08/3329, E08/3330, E08/3331, E08/3332, E08/3333).

  • ➢ The Wyloo Project is prospective for Mount Clement style epithermal sediment-replacive Au-Ag-Cu hosted within the Wyloo Group sediments.

  • ➢ This project is considered to be complimentary to Avira's existing copper project (Mount Macpherson) located in the Paterson Range.

  • ➢ The location of this project in the North West Gasgoyne will allow for continuous exploration activity between the Paterson Range in the Pilbara and the Ashburton Basin in the Gasgoyne provinces in Western Australia.

Avira Resources Limited (ASX: AVW) (Avira or the Company) is pleased to announce it has pegged five exploration licenses in the Ashburton Basin, Western Australia (the Wyloo Project) to explore for epithermal gold, silver and copper. The Wyloo Project consists of 5 exploration licenses (E08/3329, E08/2230, E08/3321, E08/3332, E08/3333).

Avira Resources Limited

Suite 9, Level 2, 330 Churchill Avenue Subiaco WA 6008 Australia T: 61 8 6489 1600 F: 61 8 6489 1601www.aviraresourcesltd.com.au

ABN: 38 131 715 645

Commenting on the announcement today Avira's Executive Director David Deloub said;

"The Wyloo Project is an exciting greenfields exploration opportunity developed from a review of recent Geological Survey of Western Australia research into the Ashburton Basin gold deposits. In a highly competitive exploration environment, Avira has secured a substantial ground position in an emerging gold/copper province."

Figure 1. Location of Avira's Wyloo copper/gold Project

Mount Clement Gold Deposit - Epithermal Au-Ag-Cu Mineralisation

The Mount Clement gold deposit is a small occurrence of gold hosted within the Ashburton Basin, Western Australia.

Mineralisation at Mount Clement occurs in a ~600-700m long, 200-300m thick section of the Wyloo Group sediments, on the north side of a hill. The deposit is hosted within metamorphosed calcareous and silicilastic rocks (shale, carbonate, dolomite, mudstone, sandstone), and chert (hydrothermal exhalate), forming an exhalite mound (Figure 2).

Mt Clement has recently been mapped and described by the Geological Survey of Western Australia as syngenetic and epithermal. The GSWA interpretation is that the deposit formed roughly synchronous with the Wyloo Group sedimentation at ~1828Ma, with the intrusion of the Moorarie Suite granitoids from c. 1830-1798Ma. The genetic model preferred for the Mt Clement Au-Cu-Ag deposit is that of hydrothermal fluids flowing up syn-sedimentary faults, and depositing gold in exhalative carbonate-chert-pyrite within the subsurface of the sediments.

Avira Resources Limited

Suite 9, Level 2, 330 Churchill Avenue Subiaco WA 6008 Australia T: 61 8 6489 1600 F: 61 8 6489 1601www.aviraresourcesltd.com.au

ABN: 38 131 715 645

Figure 2 Mount Clement Gold Deposit ore genetic model (GSWA, 2021)

Another implication is that this represents one end-member of granite-associated mineralizing processes within the Wyloo Group during the intrusion of the Moorarie Suite. Other examples of granite-associated epigenetic mineralization includes skarn and VMS type mineralization, such as tungsten skarns at Mount Alexander (Kimber Well), and VMS hosted within felsic volcaniclastic sediments throughout the Wyloo Group.

Gneiss Results, Avira's consultant, identified prospective geology 'search space' within the Ashburton Basin being defined by the Wyloo Group sediments which are within 5km of Moorarie Suite granites.

This forms a halo of prospective ground surrounding Moorarie Suite granites within the north of the Gascoyne Province (Figure 3). Gneiss Results identified several areas located in open ground which have been applied for under five exploration licenses.

Avira Resources Limited

Suite 9, Level 2, 330 Churchill Avenue Subiaco WA 6008 Australia T: 61 8 6489 1600 F: 61 8 6489 1601www.aviraresourcesltd.com.au

ABN: 38 131 715 645

Figure 3: Prospective 5km corridor surrounding Moorarie/Wyloo Contact

Figure 4: Open Ground Applied for under five exploration licences by Avira Resources.

Area A. Exploration licences E08/3329 (Tajeri Bore) and E08/3330 (Mount Edith)

These tenements cover 26 and 32 sub-blocks, respectively, for a combined area of 155km2. The tenement overlies an area of the Wyloo Group within the prospective 5 kilometre prospectivity halo, covered by alluvium, colluvium and sheetwash. Initial interpretation of regional magnetic surveys shows a series of north-east and north0west striking structures within a zone of constriction between low-magnetic granitoids.

Avira Resources Limited

Suite 9, Level 2, 330 Churchill Avenue Subiaco WA 6008 Australia T: 61 8 6489 1600 F: 61 8 6489 1601www.aviraresourcesltd.com.au

ABN: 38 131 715 645

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Avira Resources Limited published this content on 04 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 March 2021 00:12:02 UTC.