Bardoc Gold : Drilling success at 1.7Moz Aphrodite deposit

19 NOVEMBER 2020

ASX/MEDIA RELEASE

LATEST DRILLING SUCCESS CONFIRMS OUTSTANDING GROWTH POTENTIAL IN THE SIGMA LODE AT 1.7Moz APHRODITE DEPOSIT

Significant mineralisation intersected in fresh rock, opening up an exciting new exploration opportunity at depth as drilling also confirms shallow supergene zone

Key Points:

• Excellent results returned from in-fill and extensional drilling targeting shallow supergene mineralization in the Sigma Lode, located immediately east of the planned open pit at the cornerstone 1.7Moz Aphrodite Gold Deposit at the Bardoc Gold Project. Results include:
• • 21m @ 3.94g/t Au from 147m including 7m @ 6.12g/t Au from 161m 20APRC0013
  • 7m @ 2.77g/t Au from 177m in 20APRC0015
  • 8m @ 2.92g/t Au from 78m in 20APRC0024
  • 10m @ 1.23g/t Au from 56m in 20APRC0015
  • 9m @ 1.51g/t Au from 69m in 20APRC0029
• The drilling has confirmed shallow supergene mineralization in the optimized Sigma Pit area in line with the current Resource model, highlighting the potential for additions to the current open pit Ore Reserve.
• Significant thick zones of mineralisation were also intersected in fresh rock beneath the Sigma Pit optimization, with similar grades and widths to the main Alpha and Phi Lodes. This opens up an exciting future exploration opportunity at depth within the Sigma Lode.
• Water bore drill rig is onsite and mobilized to the Scotia Borefield.
• Diamond core drilling continuing at the north end of the cornerstone Zoroastrian Deposit, with RC drilling scheduled to commence shortly to follow-up existing recent air-core results at the North Kanowna Star Project.

Bardoc Gold Limited (ASX: BDC, Bardoc or the Company) is pleased to advise that it has received further significant results from recent resource definition and exploration drilling at the cornerstone 1.7Moz Aphrodite Deposit, part of its 100%-owned3.03Moz Bardoc Gold Project near Kalgoorlie, with the latest results demonstrating significant growth potential in the under-explored Sigma Lode.

The drilling has successfully confirmed the shallow supergene mineralisation at the Sigma Lode, located immediately east of the planned open pit over the main Alpha and Phi Lodes, while also identifying significant widths and grades of mineralisation within the Sigma Lode at depth in fresh rock.

Bardoc Gold Limited | ABN 40 125 578 743

130 Stirling Highway, North Fremantle WA 6159 | Locked Bag 4, North Fremantle WA 6159 | Australia Tel [phone] | Fax [phone]

www.bardocgold.com

The Aphrodite Deposit is a multi-lode system containing 1.7Moz in Resources and 500koz in Ore Reserves.

It forms a key baseload ore feed in the later years of the current mine plan for the Bardoc Gold Project, located 40km north of Kalgoorlie, supplementing ore from the Excelsior and Zoroastrian Deposits, 20km to the south, where the central treatment facility will be located.

The supergene mineralisation at Aphrodite is free-milling and will complement free-milling ore feed from the Zoroastrian and Excelsior Deposits.

Further work is required to follow up and expand on the fresh rock mineralisation at the Sigma Lode, which is located about 120-150m east of the main Alpha Lode. The Sigma Lode is under-explored compared to the Alpha and Phi Lodes and has the potential to deliver similar widths and grades to Alpha Lode, which forms part of the Aphrodite underground mining Reserves.

This represents an exciting long-term growth opportunity for Bardoc Gold.

MANAGEMENT COMMENTS

Bardoc Gold's Chief Executive Officer, Mr Robert Ryan, said the recent drilling targeting the Sigma Lode was significant in several respects, as it demonstrated the potential both to expand shallow supergene Ore Reserves and to delineate deeper extensions that could emerge as an exciting longer term growth opportunity.

"In-fill drilling at the Sigma pit has confirmed the presence of a broad high-grade mineralised zone in line with the current resource model. The Sigma pit did not previously form any part of the PFS mine plan or Ore Reserve and will provide a welcome addition to our DFS, due for release in March 2021.

"Meanwhile, the high-grade intercept of 21m @ 3.94g/t presents further opportunity at depth at this emerging prospect. The Sigma lode is located only 400m from the proposed underground workings at Aphrodite and will form part of our future exploration plan at the project.

"Our exploration effort is currently in full flight with diamond drilling underway at the Northern Zoroastrian prospect and RC drilling about to commence at the exciting North Kanowna Star Project, where we recently reported significant shallow air-core results, and we expect strong news-flow from this campaign to continue over the coming weeks."

APHRODITE RESULTS

Recent resource definition and exploration Reverse Circulation (RC) drilling, comprising 26 holes for 4,592m, has successfully targeted and intersected the shallow supergene mineralisation at the Aphrodite Sigma Lode.

A significant intersection from Sigma Lode, 21m @ 3.94g/t Au from 147m including 7m @ 6.12g.t Au from 161m in 20APRC0013, requires additional follow-upwork to test for extensions down-plungeand along strike.

The widths and grades returned in 20APRC0013, if found to be continuous, may have a positive impact on future resource models and pit optimisations of the Sigma Lode Pit, as well as the evaluation of future underground mining. Recent results include:

• 21m @ 3.94g/t Au from 147m including 7m @ 6.12g/t Au from 161m 20APRC0013
• 7m @ 2.77g/t Au from 177m in 20APRC0015
• 8m @ 2.92g/t Au from 78m in 20APRC0024
• 10m @ 1.23g/t Au from 56m in 20APRC0015
• 9m @ 1.51g/t Au from 69m in 20APRC0029

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As shown in Figure 1 below, the supergene mineralisation is flat-lying as anticipated, and an updated Mineral Resource model will be required to advance optimisations in the area.

Further drilling is required to bring the mineralisation from Inferred to Indicated Resource classification, and this will be scheduled as part of future exploration programs.

Figure 1: Drill hole location plan.

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Figure 2: Sigma Lode and pit optimisation.

NEXT STEPS

• An RC drill rig is currently mobilizing to North Kanowna Star this week to follow up the multiple gold trends recently discovered by air-core drilling.
• Air-coredrilling at Aphrodite is continuing to the area east of the known mineralization and will return to North Kanowna Star shortly to explore for extensions of the anomalous areas.
• Exploration diamond core drilling is ongoing at the northern end of the cornerstone Zoroastrian Deposit.

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