Avira Resources : Quarterly Activities Report and Appendix 5B

29 October 2020

The Manager

Market Announcements Office

Level 40, Central Park

152-158 St Georges Terrace

PERTH WA 6000

AVIRA RESOURCES LIMITED - QUARTERLY ACTIVITIES REPORT

(SEPTEMBER 2020)

Avira Resources Limited (ASX: AVW) (Avira or the Company) wishes to advise on the following activities during the quarter ended 30 September 2020.

Operational Activities

Paterson Range projects, WA

Avira Resources currently holds two tenement packages within the Paterson Range province, host to a number of substantial gold, copper and manganese mines and deposits including the Telfer gold- copper mine.

Subsequent significant recent discoveries made by Rio Tinto (Winu project) and the Newcrest- Greatland Gold JV (Havieron project) has reinvigorated interest in the province. The Avira projects are situated in the Yeneena basin sedimentary rock formation that hosts both the Nifty and Maroochydore copper deposits and the Woody Woody Manganese mine.

Figure 1. Location of the Mount Macpherson and Throssel Range Projects.

Avira Resources Limited

Suite 9, Level 2, 330 Churchill Avenue Subiaco WA 6008 Australia

1. 61 8 6489 1600 F: 61 8 6489 1601 www.aviraresourcesltd.com.au ABN: 38 131 715 645

During the quarter Avira conducted and completed geological mapping, ground based geochemical soil sampling and an airborne geo-physical EM survey.

The company received the data and results from the high-resolution helicopter borne Xcitetm electromagnetic and magnetic survey. The survey defined 152 conductive anomalies and coincident magnetic responses in the subsurface geology of the project areas with several extensive anomalous responses encountered on multiple flight lines. Eighty six conductive anomalies occur on the Throssel tenement and sixty six on the Mount Macpherson tenement.

Several of these anomalies continue for several kilometres along strike within interpreted structures. These anomalies are defined by discrete late-time conductors, modelled at shallow depths which are potentially caused by sulphide mineralisation. Avira considers these are compelling structural and geophysical targets for further exploration.

Data was collected and processed by specialist geophysical consultancy Southern Geoscience Consultants Pty. Ltd. (SGC). Individual line profiles were visually inspected after processing and a series of anomaly picks generated. SGC has identified strong (red), moderate (Yellow) and weak (blue) conductors (figure 2) and defined a series of targets (figure 3). A tabulation of SGC's targets is presented in the appendix, table 2.

Figure 1. strong (red), moderate (yellow) and weak (blue) EM Anomalies defined by SGC, on RTP magnetic imagery

Avira Resources Limited

Suite 9, Level 2, 330 Churchill Avenue Subiaco WA 6008 Australia

1. 61 8 6489 1600 F: 61 8 6489 1601 www.aviraresourcesltd.com.au ABN: 38 131 715 645

Figure 2 Priority target zones highlighted by SGC from Paterson EM survey, on channel 25 conductivity image

Airborne electromagnetic (EM) survey results have defined a series of electromagnetic responses in late time channels which are consistent with and have been interpreted as potential accumulations of sulphides in the subsurface.

Early time channels are usually associated with conductive overburden or conductive regolith and in certain areas of the tenement these early time responses are coincident with late time responses where responses from sulphides may be concealed by regolith effects. Targets have been selected based on late time short amplitude responses less likely to be caused by regolith conductors.

Pipeline Target (SGC_5572_1 & 3)

Several subtle mid to late time EM anomalies are present on E45/5572, with a significant and extensive anomaly present along approximately 8 kilometres of strike through the tenement (figure 4) with 3 kilometres of conductor identified as 'high priority' by SGC (refer table 1).

Avira Resources Limited

Suite 9, Level 2, 330 Churchill Avenue Subiaco WA 6008 Australia

1. 61 8 6489 1600 F: 61 8 6489 1601 www.aviraresourcesltd.com.au ABN: 38 131 715 645

The EM anomaly is coincident with a linear magnetic anomaly. The Pipeline Target has not been tested by Avira's soil geochemistry and is concealed by wind-blown sand, alluvium, laterite and sand dunes. A broad early to late time conductive response is present to the immediate south-west of the Pipeline Target and is likely related to the laterite horizon.

Figure 4. Channel 20 conductivity response over E45/5572 and Avira Resources interpreted targets

Gwardar Target (including SGC_5572_3)

A sinuous magnetic and conductive response is present within the broad laterite response with several conductive targets identified by the geophysical interpretation. Collectively these anomalies continue for approximately nine kilometres as elevated magnetism coincident with mid-time conductivity features.

The anomaly is potentially related to sulphides within bedrock due to the coincidence of magnetic and conductive responses. The sinuous shape of the anomaly suggests that it is potentially folded and controlled by stratigraphic features in the basement. Geological mapping within this area has shown considerable deformation.

Extensive mid-time EM responses are present in the tenement with an NNW trend (SGC_5572_4), and are up to several hundred metres strike length. These anomalies coincide, broadly, with a set of tight, sheared out folds within the area. Other discrete late time responses in the south-east of the tenement (SGC_5572_2) occur in lateritised and covered terrain and require follow-up geophysics and in-fill geochemistry.

Avira Resources Limited

Suite 9, Level 2, 330 Churchill Avenue Subiaco WA 6008 Australia

1. 61 8 6489 1600 F: 61 8 6489 1601 www.aviraresourcesltd.com.au ABN: 38 131 715 645