Bardoc Gold : Extensive Gold Mineralisation at North Kanowna Star

5 NOVEMBER 2020

ASX/MEDIA RELEASE

EXTENSIVE GOLD MINERALISATION IDENTIFIED ON MULTIPLE TRENDS IN AIR-CORE DRILLING AT NORTH KANOWNA STAR

Broad zones of gold mineralisation delineated in trends up to 3.5km long, highlighting a

significant new discovery opportunity to be tested with follow-up RC drilling

Key Points:

• Multiple zones of strong gold anomalism identified in first-pass exploration air-core drilling at the North Kanowna Star Project, located 29km south-east of the Bardoc Gold Project. Results include:
• • 21m @ 1.56g/t Au from 36m in NKA200051
  • 15m @ 1.22g/t Au from 68m in NKA200138
  • 4m @ 3.74g/t Au from 40m in NKA200139
  • 4m @ 3.59g/t Au from 52m in NKA200200
• Gold zones identified are located on multiple trends up to 3.5km in length.
• Gold intercepts require follow-up drilling with deeper Reverse Circulation drilling planned to commence shortly.
• These newly-defined trends at North Kanowna Star are interpreted as representing a potentially significant mineralised system that will require extensive follow-up exploration.
• Diamond core drilling at Zoroastrian is underway to follow up recent outstanding intersections at the northern end of the cornerstone deposit.

Bardoc Gold Limited (ASX: BDC, Bardoc or the Company) is pleased to advise that it has identified multiple new zones of strong gold anomalism at its North Kanowna Star Project, located 29km south-east of the proposed Mill and Mine Site at its flagship 100%-owned3.03Moz Bardoc Gold Project, located 40km north of Kalgoorlie in Western Australia.

North Kanowna Star has an existing Mineral Resource of 32koz Au and represents an exciting new exploration and growth opportunity for the Company, being located within an economic haulage radius of the proposed new mining and processing infrastructure at the Bardoc Project.

The recently completed air-core drilling program has highlighted the significant exploration potential at North Kanowna Star with several new zones of extensive gold anomalism defined which require follow-up drilling to better define their extent and gold distribution. The existing 32koz Mineral Resource at the Perseverance-Wedge Deposit is largely supergene in nature, with RC and diamond drilling earlier this year confirming that the mineralisation continues at depth and is open along strike.

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

MANAGEMENT COMMENTS

Bardoc Gold's Chief Executive Officer, Mr Robert Ryan, said the discovery of major new mineralised trends at North Kanowna Star was an exciting and significant development for the Company's longer-term growth strategy in the North Kalgoorlie region.

"Our existing 1Moz mine plan, as defined by the March 2020 Pre-Feasibility Study, was based only on the four main deposits of Aphrodite, Excelsior, Zoroastrian and Bulletin. There is considerable upside potential on this plan from further exploration success, particularly at the numerous satellite deposits and emerging exploration opportunities within our 250km2 landholding north of Kalgoorlie.

"The North Kanowna Star Project was a strategic bolt-on acquisition and is a prime example of the outstanding growth opportunities within our portfolio. It sits just 29km from the proposed plant site, so if we are successful in growing the Mineral Resource or making new discoveries on those tenements, it will immediately come into the frame for our broader mine plan.

"Our methodical approach to exploration at North Kanowna Star has paid immediate dividends, with broad high-grade intersections in the first-pass air core drilling. The combination of the detailed pXRF analysis and the GAIP survey has identified multiple exploration targets and air-core drilling has now confirmed the presence of mineralisation along these trends.

"With a 3.5km strike length of strong gold anomalism to test with deeper drilling, North Kanowna Star has the potential to be a significant gold system and is emerging as a major new growth opportunity for the Company. We are looking forward to seeing what deeper RC drilling can deliver."

NORTH KANOWNA STAR RESULTS

Bardoc Gold completed a geophysical Gradient Array Induced Polarisation (GAIP) survey over the North Kanowna Star tenements earlier this year. Interpretive work by the Company's geologists and consultant geophysicists highlighted several priority areas for exploration drilling.

The recently completed air-core program is the first round of broad-spaced drilling to be undertaken at the Project, comprising 230 holes for a total of 8,729m, and it has yielded immediate success with both high grade and broad zones of gold anomalism identified including:

• 21m @ 1.56g/t Au from 36m in NKA200051
• 15m @ 1.22g/t Au from 68m in NKA200138
• 4m @ 3.74g/t Au from 40m in NKA200139
• 4m @ 3.59g/t Au from 52m in NKA200200
• 12m @ 0.74g/t Au from 40m in NKA200061
• 21m @ 0.86g/t Au from 52m in NKA200187

Significantly, the identified gold zones are co-incident with the identified GAIP anomalies, confirming the interpretive work completed by the Company and providing additional support to test other areas within the Project area.

The Company continues to apply the best possible science and geological thinking to its project areas and the GAIP survey was selected as a suitable geophysical method because it maps resistive and chargeable units of rock. These features are commonly related to hydrothermal changes (i.e. gold mineralisation events) in the Eastern Goldfields.

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The GAIP survey has successfully identified:

• Resistive units indicating potential silicification and quartz veining, which is known to commonly occur with gold mineralisation; and
• Chargeable units which are potentially associated with sulphide minerals, typically pyrite and arsenopyrite, which are known to commonly occur with gold mineralisation and are present at North Kanowna Star.

The new GAIP data have also highlighted structures not previously observed in airborne magnetic data. These structures are being used on an ongoing basis to update and improve the Company's geological interpretation.

The new drilling is being scanned using pXRF and the resulting data will be combined with the recently completed sampling and analysis of the historical drill-hole resampling program, which required significant detailed and methodical field work and involved collecting rock chips from drilling from the 1980's onwards.

With the correct application of trace element geochemistry, collected by ongoing pXRF sampling, the Company's geological team is confident of being able to expand the mineralised gold halo search area using specific (unique to North Kanowna Star) pathfinder elements, as well as better defining the geology of the system. The multi-element exploration geochemical model is being developed from the mineralisation found at the Perseverance-Wedge Deposit.

The main zones of gold anomalism identified in this drilling reported here are trending along interpreted felsic volcanic and basalt rock contacts. These contacts are interpreted to be steeply dipping with deeper structures allowing for the movement of gold-bearing fluids.

Also found locally, and observed in airborne magnetics, are zones (often circular) of low magnetism that are interpreted as "fingers" of underlying granites that may have provided heat and fluids. The underlying granite is part of the Scotia-Kanowna Dome which hosts the nearly 1Moz Au Federal and Golden Cities Gold Deposits, currently being mined by Norton and treated at the Paddington Gold Mine.

Figure 1: The central and eastern anomalism identified in holes NKS200138 and NKA200133 both end in the top of fresh rock with strongly developed gold anomalism. The gold in hole NKA200138 is associated with pyrite and silicification on a coarse grained sediment/basalt contact, while KNA200133 is associated with albitisation and felsic volcanic rocks. Some holes did not penetrate to fresh rock due to the presence of a hard silica cap, further drilling with a rig more powerful than an air-core rig is required to penetrate the hard cap rock.

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Figure 2: This section shows the central and eastern gold zones. Of significance is that NKA200051, 46, 45, 44, 42 all end in anomalous gold. Such a broad zone of anomalism extending across strike is suggestive of an extensive alteration system. Drill hole NKA200051 is associated with pyrite, an encouraging sign for further exploration, while hole NKA200042 is associated with arsenopyrite.

Figure 3: Plan of simplified geology and 0.3g/t Au anomalism. Note that it extends for some 3.5km along strike with multiple zones in the central part of the tenement.

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