Dragon Mining : VOLUNTARY ANNOUNCEMENT - UPDATE ON EXPLORATION ACTIVITIES UNDERTAKEN IN SOUTHERN FINLAND

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DRAGON MINING LIMITED

龍 資 源 有 限 公 司 *

(Incorporated in Western Australia with limited liability ACN 009 450 051)

(Stock Code: 1712)

VOLUNTARY ANNOUNCEMENT

UPDATE ON EXPLORATION ACTIVITIES UNDERTAKEN IN

SOUTHERN FINLAND

This announcement is made by Dragon Mining Limited 龍資源有限公司* ("Dragon Mining" or "the Company") on a voluntary basis to inform the shareholders of the Company and potential investors of our recent activities.

Since August 2019, Dragon Mining has continued with exploration at the Jokisivu Gold Mine ("Jokisivu") and at the site of the Orivesi Gold Mine ("Orivesi") in southern Finland.

At Jokisivu, the Company completed a series of drilling campaigns that were designed to better define the extent and geometry of known mineralised zones and provide additional information to support future mine planning and development. Early stage exploration has recommenced at the site of Orivesi with the objective of evaluating the merit of the Company's project holding, in areas away from the known mineralisation that have been subject to limited exploration in the past.

The Company is pleased to announce that the drilling campaigns at Jokisivu yielded a number of significant intercepts, including highlights 6.50 metres @ 17.01 g/t gold, 2.00 metres @

28.7 g/t gold, 9.60 metres @ 5.16 g/t gold and the narrow, high grade 1.00 metre @ 92.80 g/ t gold, 0.85 metres @ 62.10 g/t gold, 0.90 metres @ 60.60 g/t gold and 0.80 metres @ 127.00 g/t gold.

- 1 -

Jokisivu Gold Mine

Underground diamond core drilling completed at Jokisivu since August 2019 comprised a total of 66 holes for 8,923.4 metres, drilled over four campaigns. These campaigns primarily targeted the two key deposits at Jokisivu, Kujankallio and Arpola and included:

• a 35 hole, 5,128.70 metre campaign drilled from the 450m level directed at the Kujankallio Main Zone and Kujankallio Hinge Zone between the 420m and 500m levels ("Campaign 1");
• a 17 hole, 1,906.30 metre campaign from the 470m level targeting the Kujankallio Hinge Zone between the 500m and 530m levels ("Campaign 2");
• a 9 hole, 1,203.60 metre campaign drilled from the 170m and 190m levels directed at the Arpola Hanging Wall Zone ("Campaign 3"); and
• a 5 hole, 684.80 metre campaign drilled from the 120m level directed at the Arpola Hanging Wall Zone ("Campaign 4").

Results have been received for all holes drilled in these campaigns, yielding a series of significant intercepts that support current geological models and further delineating the principal mineralised zones in the Kujankallio Main Zone and Kujankallio Hinge Zone areas. Results at Arpola have provided confidence that the mineralised zones display good continuity, confirming a link between the Arpola Hanging Wall zone and the Osmos Zone, though the area remains structurally complex and challenging. Better intercepts (>20 gram- metres) received from these campaigns include:

Campaign 1

• 2.65 metres @ 8.09 g/t gold from 67.75 metres in HU/JS-915;
• 1.05 metres @ 21.70 g/t gold from 85.50 metres in HU/JS-940;
• 4.30 metres @ 7.02 g/t gold from 48.00 metres in HU/JS-957;
• 4.25 metres @ 6.39 g/t gold from 102.30 metres in HU/JS-957;
• 1.00 metre @ 42.30 g/t gold from 75.60 metres in HU/JS-958;
• 8.50 metres @ 3.30 g/t gold from 128.90 metres in HU/JS-960;
• 8.30 metres @ 5.03 g/t gold from 114.90 metres in HU/JS-962;
• 0.85 metres @ 62.10 g/t gold from 79.25 metres in HU/JS-964;
• 4.70 metres @ 5.22 g/t gold from 105.05 metres in HU/JS-964;
• 3.30 metres @ 6.16 g/t gold from 50.65 metres in HU/JS-966;
• 0.90 metres @ 60.60 g/t gold from 40.90 metres in HU/JS-967;
• 2.35 metres @ 9.74 g/t gold from 117.95 metres in HU/JS-997; and
• 10.10 metres @ 2.59 g/t gold from 115.10 metres in HU/JS-999.

- 2 -

Campaign 2

• 0.80 metres @ 127.00 g/t gold from 57.00 metres in HU/JS-969;
• 6.50 metres @ 17.01 g/t gold from 121.30 metres in HU/JS-970;
• 0.70 metres @ 30.20 g/t gold from 152.45 metres in HU/JS-972;
• 0.65 metres @ 30.70 g/t gold from 73.35 metres in HU/JS-973;
• 2.00 metres @ 28.70 g/t gold from 98.70 metres in HU/JS-974;
• 1.00 metre @ 20.80 g/t gold from 96.00 metres in HU/JS-976;
• 7.15 metres @ 5.54 g/t gold from 64.55 metres in HU/JS-981;
• 9.60 metres @ 5.16 g/t gold from 60.70 metres in HU/JS-984; and
• 1.00 metre @ 92.80 g/t gold from 103.75 metres in HU/JS-985.

Campaign 3

• 2.80 metres @ 7.63 g/t gold from 97.00 metres in HU/JS-986.

Details of all significant intercepts above 1 g/t gold from the four campaigns are listed in Tables 1 to 4.

Updating of the Jokisivu Mineral Resource commenced in November 2019, incorporating all results from the 24 holes in the voluntary announcement dated 2 September 2019 - Promising Results from Drilling at the Jokisivu Gold Mine and 30 holes from the recent Campaigns 1 and 2, which were available at the date of commencement of the updating task. Results from the annual update of the Company's Mineral Resources will be released in early 2020.

Drilling has now recommenced at Jokisivu following a brief hiatus at the end of 2019. The initial campaign is a 13 hole, 1,750 metre campaign targetting the Kujankallio Main Zone, which is being drilled from the 495m level.

Orivesi Gold Mine

Following the cessation of mining at Orivesi during 2019, the Company has embarked on a campaign of early-stage exploration to evaluate the merit of the Company's project holding, in areas away from the known mineralisation that have been subject to limited exploration in the past.

Two programs are currently underway, including a high-level review of available airborne and ground geophysical data by geophysical consultants Resource Potentials in Perth, Western Australia. This is the first integrated review of geophysical data to be undertaken across the Orivesi area, with the objective of identifying new targets that could warrant follow-up activities in the future.

The second program is a base of till/top of bedrock geochemical survey in the western part of the Orivesi project area. This program has been designed to confirm and expand on areas of gold, arsenic and bismuth anomalism that were identified from a base of till survey undertaken in the area during the early 1990's.

Results from both programs will be available in early 2020.

- 3 -

Background

The Jokisivu Gold Mine and Orivesi Gold Mine form part of Dragon Mining's Vammala Production Centre in southern Finland, approximately 165 kilometres northwest of the Finnish capital Helsinki.

The Centre comprises the Vammala Plant, a 300,000 tonnes per annum conventional crushing, milling and flotation facility, the operational Jokisivu and Kaapelinkulma gold mines and the Orivesi Gold Mine where mining ceased in 2019.

The Jokisivu Gold Mine is located 40 kilometres southwest of the Vammala Plant and hosts two principal gold deposits, Kujankallio and Arpola, 200 metres apart. The deposits represent structurally controlled orogenic gold systems located within the Palaeoproterozoic Vammala Migmatite Belt. Gold mineralization at both Kujankallio and Arpola is hosted within relatively undeformed and unaltered diorite, in 1 to 5 metre wide shear zones that are characterised by laminated, pinching and swelling quartz veins. The Kujankallio deposit has been shown by drilling to extend to at least 530 metres in depth, whilst the Arpola deposit has been drilled down to 310 metres. Both deposits remain open with depth and partially along strike.

Open cut mining at Kujankallio commenced in 2009 and underground production in 2011. A small open pit was mined at Arpola in 2011 and underground production commenced from this deposit in 2014. Underground development has now extended at Jokisivu down to the 500m level, with 1.7 million tonnes grading 3.0 g/t gold being mined from the open-pit and underground operations by the end of 2019.

- 4 -

The Orivesi Gold Mine is located 80 kilometres to the northeast of the Vammala Plant and was initially in operation between 1992 and 2003. Dragon Mining recommenced mining at Orivesi in June 2007, initially on remnant mineralisation associated with the near-vertical pipe like Kutema lode system above the 720m level. Two of the five principal lodes at Kutema continued below the historical extent of the decline at the 720m level and this area became the subject of a program of staged development and production stoping down to the 1205m level between January 2011 and January 2018. Mining from the Sarvisuo lodes, 300 metres east of Kutema commenced in April 2008 and was conducted between the 240m and 620m levels, as well as between the 360m and 400m levels and the 650m and 710m levels in the Sarvisuo West area.

Mining at Orivesi ceased in June 2019, with the Company commencing work on closure of the mine. By the cessation of mining, 3.3 million tonnes of ore grading 7.1 g/t gold had been mined from the operation since mining commenced in 1992.

The Kutema and Sarvisuo lode systems occur within the Proterozoic Tampere Schist Belt, representing a metamorphosed palaeo-epithermal system. Gold mineralisation is associated with strongly deformed andalusite rich, silicified zones found in vertical pipe-like lode systems that exhibit depth extensions ranging from tens to hundreds of metres. These lode systems are located in a broad zone of hydrothermally altered rocks that cover an area of 40 hectares. Both Kutema and Sarvisuo remain partially open and potential remains for the identification of additional gold bearing pipes or pipe clusters within the surrounding hydrothermal alteration system.

By Order of the Board

Dragon Mining Limited

Arthur George Dew

Chairman

Hong Kong, 27 February 2020

As at the date of this announcement, the Board comprises Mr. Arthur George Dew as Chairman and Non-Executive Director (with Mr. Mark Wong Tai Chun as his Alternate); Mr. Brett Robert Smith as Chief Executive Officer and Executive Director; Ms. Lam Lai as Non- Executive Director and Mr. Carlisle Caldow Procter, Mr. Pak Wai Keung Martin and Mr. Poon Yan Wai, as independent Non-Executive Directors.

• For identification purpose only

Competent Persons Statement

The information in this report that relates to Exploration Results is based on information compiled by Mr. Neale Edwards BSc (Hons), a Fellow of the Australian Institute of Geoscientists and a full time employee of the Company. Mr. Neale Edwards has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as Competent Person as defined in the 2012 Edition of the Australasian Code of Reporting for Exploration Results, Mineral Resources and Ore Reserves. Mr. Neale Edwards has provided written consent for the inclusion in this report of the matters based on his information in the form and context in which it appears.

- 5 -

Table 1 - Results from the underground diamond core drilling program that targeted the Kujankallio Main Zone and Kujankallio Hinge Zone between the 420m and 500m levels at the Jokisivu Gold Mine. All intercepts reported at a 1 g/t gold cut-off.

								Down Hole
Hole	North	East	Elevation	Azimuth (°)	Dip (°)	Length (m)	From (m)	Interval (m)	Gold (g/t)
HU/JS-910	6779638.51	2426482.99	-370.14	340.58	-14.28	143.30	91.50	1.00	1.35
							94.50	1.00	1.48
							97.80	1.55	3.16
HU/JS-913	6779638.62	2426482.71	-370.50	345.18	-20.75	170.30	104.00	1.00	1.23
							109.00	4.50	2.29
							120.10	0.80	1.07
							128.90	0.55	1.29
							130.80	1.00	1.15
HU/JS-915	6779638.67	2426483.06	-369.94	355.22	-9.97	155.00	67.75	2.65	8.09
							73.85	1.35	1.11
							102.40	0.60	2.31
							105.55	1.25	5.08
HU/JS-916	6779638.69	2426482.71	-370.14	358.34	-17.89	98.30	85.00	1.20	3.22
							92.35	0.85	2.91
							110.45	1.10	2.30
							117.75	1.05	2.92
HU/JS-938	6779638.64	2426483.23	-369.95	7.29	-9.97	110.30	66.20	2.85	2.28
							71.85	2.70	1.75
HU/JS-939	6779637.58	2426485.73	-369.66	21.27	-10.33	119.40	50.65	0.35	1.16
							70.60	1.60	4.90
							94.40	0.75	3.47
HU/JS-940	6779638.24	2426483.89	-370.03	17.31	-18.15	149.30	77.80	1.30	5.34
							85.50	1.05	21.70
HU/JS-941	6779637.07	2426488.55	-369.88	23.08	-23.32	134.40	81.70	0.70	4.95
							92.55	0.50	4.97
							98.10	3.25	2.97
HU/JS-942	6779636.80	2426492.25	-369.82	28.04	-27.53	158.40	91.50	0.65	1.69
							112.20	3.25	2.28
HU/JS-943	6779636.70	2426492.57	-369.84	33.44	-28.96	200.00	50.70	0.35	2.34
							55.10	0.40	2.20
							87.70	0.80	3.01
							105.45	1.15	3.40
							107.85	1.10	2.03
							114.95	1.25	1.19
							124.00	3.25	3.04
HU/JS-944	6779636.60	2426492.79	-369.76	38.02	-30.94	200.00	122.45	0.95	1.22
							132.00	1.00	1.81
							136.60	2.65	2.74
							186.00	1.15	1.23
HU/JS-950	6779638.61	2426482.88	-370.44	356.50	-23.00	110.50	98.55	0.50	7.07
							100.05	1.00	1.01
							102.05	2.35	1.79

- 6 -

								Down Hole
Hole	North	East	Elevation	Azimuth (°)	Dip (°)	Length (m)	From (m)	Interval (m)	Gold (g/t)
HU/JS-951	6779638.51	2426483.31	-370.24	9.12	-22.07	170.40	90.80	3.10	2.70
							98.35	1.25	1.48
							117.85	1.30	1.41
HU/JS-952	6779636.47	2426493.85	-369.60	28.19	-19.62	134.40	41.90	0.65	4.43
							58.85	0.55	1.31
							64.30	0.60	1.33
							77.80	1.95	2.78
							85.75	1.25	1.61
							90.50	2.35	1.80
							94.00	1.10	2.58
HU/JS-953	6779636.60	2426496.62	-369.21	35.54	-11.25	104.40	43.15	0.45	29.70
							56.45	0.75	2.69
							62.25	0.60	1.50
							65.40	0.40	1.02
							66.80	1.05	1.55
HU/JS-954	6779636.56	2426495.86	-369.68	35.22	-24.71	160.00	59.00	1.00	2.20
							91.35	1.00	2.89
							94.50	1.00	1.20
							106.85	1.00	1.57
							155.50	1.00	1.46
HU/JS-955	6779636.51	2426496.92	-369.84	37.26	-27.45	200.00	71.10	0.75	5.14
							77.40	0.60	2.81
							80.80	0.60	6.18
							82.70	0.80	3.36
							91.50	0.50	23.40
							98.00	1.00	1.77
							101.80	3.50	1.05
							110.75	0.50	1.33
							115.50	1.00	3.23
							120.70	0.45	1.25
							149.90	0.40	1.36
HU/JS-956	6779635.01	2426500.50	-369.64	46.31	-26.47	164.30	55.20	0.80	1.05
							126.40	1.50	2.73
							158.30	1.10	1.03
HU/JS-957	6779634.84	2426500.42	-369.54	48.19	-22.88	149.40	48.00	4.30	7.02
				Includes 0.70 metres @ 38.70 g/t gold from 48.00 metres
							84.40	1.20	1.78
							93.55	0.95	1.07
							98.00	1.20	1.38
							102.30	4.25	6.39
				Includes 1.10 metres @ 19.15 g/t gold from 104.70 metres
							111.80	1.30	1.52
							127.90	0.65	1.51
							134.00	1.00	1.04
							144.20	1.10	1.14

- 7 -

								Down Hole
Hole	North	East	Elevation	Azimuth (°)	Dip (°)	Length (m)	From (m)	Interval (m)	Gold (g/t)
HU/JS-958	6779634.71	2426500.48	-369.27	52.54	-16.99	134.30	52.70	0.75	15.40
							64.80	1.00	2.20
							75.60	1.00	42.30
							88.00	0.80	2.99
							92.50	1.00	1.17
							94.50	0.85	2.44
							129.00	1.10	1.03
HU/JS-959	6779634.72	2426500.52	-369.01	54.54	-9.52	104.30	44.30	1.50	1.21
							60.90	2.80	5.05
				Includes 0.55 metres @ 22.60 g/t gold from 63.15 metres
							79.70	0.70	7.66
							85.90	0.70	2.21
							89.15	1.00	1.66
HU/JS-960	6779633.83	2426500.33	-369.49	57.03	-23.87	200.00	79.20	1.00	1.71
							86.50	1.00	2.28
							91.30	1.00	3.08
							109.10	4.40	1.33
							128.90	8.50	3.30
				Includes 0.85 metres @ 18.30 g/t gold from 136.55 metres
							139.80	1.10	3.44
							170.65	0.90	1.55
HU/JS-961	6779633.80	2426500.48	-369.54	61.21	-20.12	164.10	72.85	1.20	7.11
							75.35	1.05	1.70
							80.80	1.00	1.09
							86.35	0.60	2.95
							101.70	1.10	1.43
							117.30	2.40	6.37
							122.40	1.00	4.98
							125.30	1.00	1.03
							130.50	2.70	3.02
							133.95	0.85	1.35
							154.90	0.35	1.25
							160.00	1.10	1.34
HU/JS-962	6779633.51	2426500.45	-369.65	67.07	-21.35	198.90	18.40	3.40	1.19
							78.25	1.10	1.02
							85.65	1.00	19.25
							114.90	8.30	5.03
				Includes 0.50 metres @ 58.40 g/t gold from 117.30 metres
							145.95	3.45	1.39
							151.00	0.85	1.64
							158.95	1.05	2.45
							174.75	1.10	1.02

- 8 -

								Down Hole
Hole	North	East	Elevation	Azimuth (°)	Dip (°)	Length (m)	From (m)	Interval (m)	Gold (g/t)
HU/JS-963	6779633.68	2426500.50	-369.38	66.02	-14.01	143.30	35.95	1.35	1.73
							69.40	1.10	1.16
							102.20	1.25	2.11
							112.10	0.85	5.71
							130.50	1.05	1.21
HU/JS-964	6779633.36	2426500.47	-369.29	72.14	-17.04	185.00	0.10	1.25	1.08
							17.50	0.40	1.29
							71.70	0.60	1.76
							79.25	0.85	62.10
							105.05	4.70	5.22
							130.90	1.60	1.63
							148.60	0.95	18.80
HU/JS-965	6779633.67	2426500.50	-369.09	70.52	-6.70	119.30	15.80	0.90	1.01
							50.90	0.65	1.73
							59.05	2.85	1.83
							64.90	3.10	1.74
							81.80	0.95	4.55
							90.85	1.00	1.89
							100.95	0.95	2.72
							113.80	1.10	4.32
HU/JS-966	6779634.62	2426500.63	-368.50	73.42	10.19	89.30	9.00	1.00	1.25
							50.65	3.30	6.16
				Includes 1.10 metres @ 16.75 g/t gold from 50.65 metres
							63.20	0.80	4.80
							69.00	0.75	2.56
HU/JS-967	6779632.84	2426500.48	-367.72	88.48	26.87	98.20	9.35	0.50	6.27
							40.90	0.90	60.60
HU/JS-968	6779633.58	2426500.52	-369.10	82.33	-5.14	170.30	64.50	1.95	1.65
							80.00	1.00	2.68
							116.95	2.65	2.74
HU/JS-995	6779638.68	2426482.30	-370.58	348.01	-27.68	149.30	143.90	1.10	3.48
HU/JS-996	6779638.60	2426482.47	-370.56	357.57	-35.12	178.80	13.75	0.65	1.07
							164.80	1.40	6.96
HU/JS-997	6779637.47	2426486.37	-370.40	359.27	-28.35	134.40	104.00	0.40	3.99
							116.05	0.35	1.07
							117.95	2.35	9.74
				Includes 0.50 metres @ 34.00 g/t gold from 117.95 metres
							122.30	1.00	1.50
HU/JS-998	6779637.47	2426486.47	-370.29	12.41	-29.59	134.40	114.60	2.80	3.58
							122.05	1.00	4.49
HU/JS-999	6779636.73	2426491.19	-369.97	23.00	-30.57	143.50	1.55	0.90	5.18
							46.35	0.55	6.72
							115.10	10.10	2.59

- 9 -

Table 2 - Results from the underground diamond core drilling program that targeted the Kujankallio Hinge Zone between the 500m and 530m levels at the Jokisivu Gold Mine. All intercepts reported at a 1 g/t gold cut-off.

								Down Hole
Hole	North	East	Elevation	Azimuth (°)	Dip (°)	Length (m)	From (m)	Interval (m)	Gold (g/t)
HU/JS-969	6779648.40	2426350.68	-385.37	11.01	-43.41	125.00	57.00	0.80	127.0
							64.00	1.50	1.87
							69.25	1.65	3.33
							73.90	1.00	1.18
							87.00	2.10	7.82
HU/JS-970	6779644.81	2426354.65	-384.93	17.16	-33.56	144.80	28.00	1.00	1.18
							36.45	0.85	3.13
							53.95	1.35	2.15
							98.75	0.80	2.75
							108.90	0.65	8.34
							111.65	1.00	1.48
							113.65	1.00	1.24
							116.60	2.15	1.75
							121.30	6.50	17.01
HU/JS-971	6779653.68	2426373.82	-386.01	14.16	-28.14	143.50	114.90	3.10	6.18
							126.60	3.20	4.11
							136.15	1.00	6.39
HU/JS-972	6779653.75	2426373.85	-385.76	19.25	-20.84	158.40	28.00	1.00	1.18
							118.10	0.95	1.22
							133.35	0.95	1.79
							152.45	0.70	30.20
HU/JS-973	6779648.72	2426350.96	-385.14	8.39	-35.70	110.00	31.00	1.00	1.36
							51.00	1.00	1.05
							64.60	1.00	2.63
							73.35	0.65	30.70
							77.70	1.00	2.59
							81.00	2.75	6.31
							95.00	2.30	1.87
HU/JS-974	6779653.78	2426372.83	-385.94	3.32	-29.71	122.50	44.70	1.00	3.01
							98.70	2.00	28.70
				Includes 1.00 metre @ 55.00 g/t gold from 98.70 metres
HU/JS-975	6779653.83	2426373.07	-385.68	11.55	-17.04	130.00	21.80	1.35	1.97
							28.50	1.50	8.01
							99.00	1.00	1.31
							101.00	0.55	6.01
							104.75	0.65	4.88
							107.50	1.00	17.00

- 10 -

								Down Hole
Hole	North	East	Elevation	Azimuth (°)	Dip (°)	Length (m)	From (m)	Interval (m)	Gold (g/t)
HU/JS-976	6779653.05	2426372.44	-385.28	3.05	-12.14	109.70	89.90	1.95	9.42
							93.50	0.85	1.29
							96.00	1.00	20.80
HU/JS-977	6779648.95	2426350.88	-384.35	359.07	-3.81	104.40	9.00	1.00	1.60
							24.90	1.10	2.57
							49.00	1.00	1.24
							83.40	0.55	6.50
							85.55	0.85	9.87
HU/JS-978	6779648.78	2426351.07	-385.12	353.57	-28.38	95.00	8.30	0.80	3.85
							53.20	1.00	11.70
							63.00	1.20	2.00
							68.30	1.35	6.21
							78.80	1.10	2.14
HU/JS-979	6779653.73	2426372.23	-385.65	355.55	-19.11	113.30	44.30	1.00	1.60
							62.25	0.55	3.73
							81.50	1.00	1.03
							90.05	0.50	36.60
HU/JS-980	6779648.60	2426350.11	-384.81	356.02	-18.55	114.90	13.70	1.35	2.16
							20.20	3.60	4.18
							26.25	1.75	2.43
							32.30	1.20	1.15
							78.30	5.00	2.52
							103.70	1.00	1.01
							111.50	0.50	6.99
HU/JS-981	6779648.24	2426349.67	-384.76	341.35	-17.70	77.00	10.45	1.45	2.21
							35.00	1.25	5.73
							56.90	2.30	2.07
							64.55	7.15	5.54
HU/JS-982	6779647.35	2426348.82	-384.78	325.16	-15.47	74.40	4.35	0.40	3.41
							8.70	0.35	5.09
							21.75	1.25	2.36
							27.60	1.05	1.78
							39.20	0.40	2.93
							43.55	1.00	1.31
							45.55	1.10	1.61
							51.40	0.35	4.71
							55.20	1.00	3.24
							57.20	1.00	4.53
							61.20	0.65	4.14

- 11 -

								Down Hole
Hole	North	East	Elevation	Azimuth (°)	Dip (°)	Length (m)	From (m)	Interval (m)	Gold (g/t)
HU/JS-983	6779648.58	2426349.86	-384.50	345.05	-10.80	80.00	19.80	0.40	14.50
							59.70	1.00	5.53
							69.70	0.40	2.87
							74.30	0.75	5.97
HU/JS-984	6779647.78	2426348.97	-384.44	331.17	-5.40	80.30	7.70	0.45	1.95
							54.00	2.25	1.47
							57.50	0.90	13.50
							60.70	9.60	5.16
HU/JS-985	6779653.82	2426373.05	-385.94	8.29	-23.50	122.80	20.50	1.00	1.01
							103.75	1.00	92.80
							113.50	2.40	2.59

Table 3 - Results from the underground diamond core drilling campaign that is targeting the Arpola Hanging Wall Zone from the 170m and 190m levels at the Jokisivu Gold Mine. All intercepts reported at a 1 g/t gold cut-off.

								Down Hole
Hole	North	East	Elevation	Azimuth (°)	Dip (°)	Length (m)	From (m)	Interval (m)	Gold (g/t)
HU/JS-986	6779301.94	2426366.49	-107.46	28.59	7.68	125.00	97.00	2.80	7.63
							102.70	0.90	2.11
HU/JS-987	6779302.37	2426364.99	-107.36	4.44	8.10	134.30	28.00	1.00	1.58
							64.00	0.90	2.10
							67.65	1.00	1.41
							76.50	1.00	3.90
							79.75	1.50	3.09
							86.60	1.70	5.99
							115.50	1.50	1.74
HU/JS-988	6779336.42	2426314.45	-99.57	14.59	4.51	119.00	36.00	1.00	1.30
							45.05	1.00	1.27
							78.00	1.50	1.20
							99.45	0.80	1.33
HU/JS-989	6779336.71	2426313.29	-99.43	353.40	4.99	140.00	33.00	1.00	1.44
							44.80	1.80	6.68
							57.30	0.55	2.04
							67.40	0.65	3.48
							99.50	1.00	1.25
HU/JS-990	6779336.86	2426311.31	-99.37	333.19	5.39	172.70	48.00	3.50	1.28
							73.40	1.60	1.29
							80.00	1.00	7.72
							94.00	1.00	1.17
							171.00	0.70	1.11

- 12 -

								Down Hole
Hole	North	East	Elevation	Azimuth (°)	Dip (°)	Length (m)	From (m)	Interval (m)	Gold (g/t)
HU/JS-991	6779302.27	2426364.97	-107.09	4.32	20.30	119.30	73.95	1.45	10.86
							80.50	1.20	1.03
HU/JS-992	6779336.55	2426314.60	-98.96	14.27	20.17	110.00	39.45	2.55	3.92
							50.00	1.20	1.11
							62.30	0.90	1.07
HU/JS-993	6779336.55	2426314.05	-98.88	353.19	19.51	128.30	34.50	1.00	1.83
							52.75	0.45	6.95
							77.45	1.55	1.56
HU/JS-994	6779336.92	2426311.33	-98.61	333.40	19.94	155.00	43.70	2.95	5.42
				Includes 0.65 metre @ 21.60 g/t gold from 43.35 metres
							66.70	3.90	2.07
							121.00	1.50	3.62
							142.50	4.00	1.31

Table 4 - Results from the underground diamond core drilling campaign that is targeting the Arpola Hanging Wall Zone from the 120m level at the Jokisivu Gold Mine. All intercepts reported at a 1 g/t gold cut-off.

								Down Hole
Hole	North	East	Elevation	Azimuth (°)	Dip (°)	Length (m)	From (m)	Interval (m)	Gold (g/t)
HU/JS-1000	6779279.22	2426287.87	-35.82	40.12	-0.49	118.90	37.25	1.75	1.53
							56.90	0.85	1.07
							92.55	0.60	2.64
							100.50	1.50	1.56
HU/JS-1001	6779279.72	2426286.41	-35.76	27.53	-0.42	119.40	27.25	1.15	1.36
							59.80	0.85	1.55
							95.25	1.05	1.63
HU/JS-1002	6779279.79	2426285.79	-35.66	14.27	-0.21	128.40	29.20	1.20	6.20
							54.90	0.90	1.48
							56.80	1.40	4.54
							60.15	1.00	16.55
							64.70	2.25	2.80
							87.80	1.05	10.35
HU/JS-1003	6779280.12	2426284.85	-35.60	0.00	-0.03	149.30	43.55	0.40	1.02
							63.8	1.20	1.79
							69.65	0.55	1.04
							77.05	0.95	1.98
							106.50	0.85	3.79
HU/JS-1004	6779280.21	2426284.50	-35.60	342.34	-0.13	168.80	34.00	4.80	3.69
							65.00	1.00	1.38
							107.30	0.60	1.21
							119.50	1.00	1.58

- 13 -

Figure 1 - Vammala Production Centre.

Figure 2 - Jokisivu Gold Mine.

- 14 -

Figure 3 - Plan view of the underground drilling program that targeted the Kujankallio Main Zone and Kujankallio Hinge Zone between the 420m and 500m levels (Campaign 1) and the Kujankallio Hinge Zone between the 500m and 530m level (Campaign 2).

- 15 -

Figure 4 - Vertical view of the underground drilling program that targeted the Kujankallio Main Zone and Kujankallio Hinge Zone between the 420m and 500m levels (Campaign 1).

- 16 -

Figure 5 - Vertical view of the underground drilling program that targeted the Kujankallio Hinge Zone between the 500m and 530m level (Campaign 2).

Figure 6 - Plan view of the underground drilling program that targeted the Arpola Hanging Wall zone from the 170m and 190m levels (Campaign 3) and the Arpola Hanging Wall zone from the 120m level (Campaign 4).

- 17 -

Figure 7 - Vertical view of the underground drilling program that targeted the Arpola Hanging Wall zone from the 170m and 190m levels (Campaign 3) and the Arpola Hanging Wall zone from the 120m level (Campaign 4).

- 18 -

APPENDIX 1 - JORC TABLE 1

Section 1 Sampling Techniques and Data - Jokisivu Gold Mine

Criteria	JORC Code Explanation
Sampling	•	N a t u r e a n d q u a l i t y o f
techniques		sampling (eg cut channels,
		random chips, or specific
		s p e c i a l i s e d i n d u s t r y
		standard measurement tools
		appropriate to the minerals
		under investigation, such
		a s d o w n h o l e g a m m a
		sondes, or handheld XRF
		instruments, etc). These
		examples should not be
		taken as limiting the broad
		meaning of sampling.
	•	I n c l u d e r e f e r e n c e t o
		measures taken to ensure
		sample representivity and
		the appropriate calibration
		of any measurement tools or
		systems used.

Commentary

In the reported campaigns, the Kujankallio and Arpola deposits at the Jokisivu Gold Mine have been sampled by an underground diamond core program.

T h e C o m p a n y c o m p l e t e d 6 6 underground diamond core drill holes for an advance of 8,923.40 metres in four campaigns that were designed to:

• evaluate the Kujankallio Main Zone and Kujankallio Hinge Zone between the 420m and 500m levels;
• evaluate the Kujankallio Hinge Zone between the 500m and 530m levels;

• Aspects of the determination of mineralisation that are

M a t e r i a l t o t h e P u b l i c Report . In cases where 'industry standard' work has been done this would be relatively simple (eg 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 3 0 g c h a r g e f o r f i r e assay') . In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may w a r r a n t d i s c l o s u r e o f detailed information.

• evaluate the Arpola hanging Wall Zone from the 170m and 190m levels; and
• evaluate the Arpola Hanging Wall Zone from the 120m level.

D r i l l h o l e s w e r e o r i e n t a t e d predominantly in a northerly direction (local mine grid) and drilled in a fan array at various angles which are approximately perpendicular to the orientation of the mineralised trends. Pierce p o i n t s a r e n o m i n a l l y s p a c e d at 20 metres vertically and 20 to 30 metres horizontally for underground drilling.

- 19 -

Criteria

JORC Code Explanation

Commentary

Drilling techniques •	Drill type (eg core, reverse
	c i r c u l a t i o n , o p e n - h o l e
	hammer, rotary air blast,
	a u g e r , B a n g k a , s o n i c ,
	etc) and details (eg core
	diameter, triple or standard
	tube, depth of diamond
	tails, face-sampling bit or
	other type, whether core is
	oriented and if so, by what
	method, etc).

Drill hole collars and starting azimuths have been accurately surveyed with a Leica TCRP 1203+ Total Station. Azimuth deviations of the holes were surveyed with Reflex Maxibor II or Devico Deviflex equipment.

All drill core is geologically a n d g e o t e c h n i c a l l y l o g g e d , photographed and mineralised zones sampled with lithological control . Sampling and QAQC protocols are as per industry best applicable practice.

Drill cores are sampled with lithological control to a maximum down hole length of 1.5 metres. Sample intervals are measured by tape from depth intervals shown on core blocks labelled by the drillers.

Samples were collected by Dragon Mining personnel and dispatched via road transport to ALS for sample preparation and analysis for gold by fire-assay methods.

Diamond core, percussion, sludge, and reverse circulation (RC) are the primary drilling techniques that have been used at the Jokisivu Gold Mine.

U n d e r g r o u n d d r i l l i n g i n t h e reported program was completed by T56/WL-56 (39.0mm) diamond core methods.

Core from underground drilling is collected with a standard tube. Core has not been orientated for definition drill programs but is sometimes for exploration drill programs. Hole deviation surveys are completed on all drill holes using Reflex Maxibor II or Devico Deviflex equipment.

- 20 -

Criteria	JORC Code Explanation
Drill sample	•	Method of recording and
recovery		assessing core and chip
		s a m p l e r e c o v e r i e s a n d
		results assessed.
	•	Measures taken to maximise
		sample recovery and ensure
		representative nature of the
		samples.
	•	Whether a relationship
		e x i s t s b e t w e e n s a m p l e
		recovery and grade and

whether sample bias may h a v e o c c u r r e d d u e t o preferential loss/gain of fine/coarse material.

Commentary

Diamond core was reconstructed into continuous runs with depths checked against core blocks . C o r e l o s s o b s e r v a t i o n s w e r e noted by geologists during the logging process. All information is recorded in the database.

Sample recovery in the completed campaigns is high with drill core having recoveries >95%.

Experienced underground drilling contract groups were engaged to undertake the program of work. Drilling contractors are supervised and routinely monitored by Dragon Mining personnel.

Drilling is well planned to avoid existing underground development and is undertaken in primary rock material.

N o r e l a t i o n s h i p w a s n o t e d between sample recovery and grade. The mineralised zones have predominantly been intersected by diamond core with good core recoveries. The consistency of the mineralised intervals suggests sampling bias due to material loss or gain is not an issue.

- 21 -

Criteria	JORC Code Explanation
Logging	•	W h e t h e r c o r e a n d
		c h i p s a m p l e s h a v e
		b e e n g e o l o g i c a l l y a n d
		geotechnically logged to
		a level of detail to support
		a p p r o p r i a t e M i n e r a l
		Resource estimation, mining
		studies and metallurgical
		studies.
	•	W h e t h e r l o g g i n g i s
		qualitative or quantitative
		in nature. Core (or costean,
		channel, etc) photography.
	•	T h e t o t a l l e n g t h a n d
		percentage of the relevant
		intersections logged.

Commentary

All holes were logged by Dragon M i n i n g g e o l o g i s t s t o a h i g h level of detail that will support Mineral Resource and Ore Reserve estimation.

Diamond holes were logged for recovery, RQD, number and type of defects. The database contains tables with information recorded f o r a l p h a / b e t a a n g l e s , d i p s , azimuths, and true dips. Specific indicator minerals and the amount and type of ore textures and ore minerals were also recorded within separate tables.

Drill samples were logged for lithology, rock type, colour, mineralisation, alteration, and texture . Logging is a mix of q u a l i t a t i v e a n d q u a n t i t a t i v e observations.

It has been standard practice that all diamond core be routinely photographed.

All holes were logged in full.

- 22 -

Criteria

JORC Code Explanation

Commentary

Sub-sampling	•	If core, whether cut or sawn
techniques and		and whether quarter, half or
sample preparation		all core taken.
	•	If non-core, whether riffled,
		tube sampled, rotary split,
		etc and whether sampled
		wet or dry.
	•	F o r a l l s a m p l e t y p e s ,
		the nature, quality and
		a p p r o p r i a t e n e s s o f t h e
		s a m p l e p r e p a r a t i o n
		technique.
	•	Quality control procedures
		a d o p t e d f o r a l l s u b -
		sampling stages to maximise
		representivity of samples.
	•	Measures taken to ensure
		t h a t t h e s a m p l i n g i s
		representative of the in
		situ material collected,
		i n c l u d i n g f o r i n s t a n c e
		results for field duplicate/
		second-half sampling.
	•	Whether sample sizes are
		appropriate to the grain
		size of the material being
		sampled.

For definition programs Dragon Mining collect full core samples of select zones for analysis from underground diamond core drill holes.

All drilling in this report has been completed by diamond core methods. No riffle, rotary or tube sampling was required.

Samples of select zones were collected for analysis by company personnel. With respect to the nature of the mineralised system and the core diameter, the use o f e i t h e r f u l l o r h a l f c o r e i s considered appropriate.

Sample preparation is completed by ALS and follows industry best applicable practice . ALS procedures and facilities are o r g a n i s e d t o a s s u r e p r o p e r preparation of the sample for a n a l y s i s , t o p r e v e n t s a m p l e mixing, and to minimise dust contamination or sample to sample contamination.

Core samples are submitted to the ALS facility in Outokumpu, Finland for sample preparation by method PREP-31BY. Samples were weighed, assigned a unique bar code and logged into the ALS system. The sample was dried, fine crushed to >70% passing 2mm screen. A split off weighing 1kg is collected and pulverised to better than 85% passing 75 microns. A sub-sample is collected for analysis at the ALS facility at either Rosia Montana, Romania or Loughrea, Ireland.

- 23 -

Criteria

JORC Code Explanation

Commentary

The method selected for sample p r e p a r a t i o n i s c o n s i d e r e d appropriate.

Certified reference material and blanks are routinely inserted with the sample submission. Dragon has used systematic standard and pulp duplicate sampling since 2004. Every 20th sample (sample id ending in -00,-20,-40,-60,-80) is submitted as a standard, and every 20th sample (sample id ending in -10,-30,-50,-70,-90) is inserted as a pulp duplicate (with the original sample id ending in -09,-29,-49,-69,-89).

A review of the results of the certified reference material and blanks indicates that they are within acceptable limits.

A review of the results of the pulp duplicate samples indicates that they are within acceptable limits.

S a m p l e s i z e s a r e c o n s i d e r e d appropriate to correctly represent the moderately nuggetty gold mineralisation based on: the style of mineralisation, the thickness and consistency of the intersections, the sampling methodology and assay value ranges for gold.

- 24 -

Criteria	JORC Code Explanation
Quality of assay	•	The nature, quality and
data and		a p p r o p r i a t e n e s s o f t h e
laboratory tests		assaying and laboratory
		p r o c e d u r e s u s e d a n d
		whether the technique is
		considered partial or total.
	•	F o r g e o p h y s i c a l t o o l s ,
		spectrometers, handheld
		X R F i n s t r u m e n t s , e t c ,
		the parameters used in
		determining the analysis
		including instrument make
		and model, reading times,
		calibrations factors applied
		and their derivation, etc.
	•	Nature of quality control
		p r o c e d u r e s a d o p t e d
		( e g s t a n d a r d s , b l a n k s ,
		d u p l i c a t e s , e x t e r n a l
		laboratory checks) and
		whether acceptable levels
		of accuracy (ie lack of bias)
		and precision have been
		established.

Commentary

Analysis has been completed at ALS in Rosia Montana, Romania or Loughrea in Ireland using procedures Au-AA25 (Detection Limit - 0.01 g/t gold; Upper Limit

• 100.00 g/t gold) - 30g fire assay with AAS finish . Gold values exceeding 3 g/t gold are re-assayed by Au-GRA21 (Detection Limit
• 0.05 g/t gold; Upper Limit -
  1,000.00 g/t gold) - 30g fire assay with gravimetric finish.

A L S a r e a c e r t i f i e d g l o b a l l a b o r a t o r y g r o u p . T h e y a r e monitored by an internal QAQC program and a QAQC program implemented by Dragon Mining, b o t h o f w h i c h i n c l u d e b l a n k material, duplicates and certified reference material.

The analytical techniques used are considered total.

N o g e o p h y s i c a l t o o l s , spectrometers, handheld XRF instruments or similar device was used for analytical purposes on sample material collected.

QAQC protocols are stringently adhered to throughout the duration of all drilling programs undertaken by Dragon Mining.

T h e p r o t o c o l s o f t h e Q A Q C program implemented by Dragon Mining includes the insertion of certified reference material (three ranges used - high, medium and low) and blank material on a 1 sample every 20 sample basis and the insertion duplicate samples on a 1 sample every 20 sample basis.

- 25 -

Criteria

JORC Code Explanation

Commentary

Verification of	•	T h e v e r i f i c a t i o n o f
sampling and		significant intersections
assaying		b y e i t h e r i n d e p e n d e n t
		or alternative company
		personnel.
	•	The use of twinned holes.
	•	Documentation of primary
		data, data entry procedures,
		d a t a v e r i f i c a t i o n , d a t a
		s t o r a g e ( p h y s i c a l a n d
		electronic) protocols.
	•	Discuss any adjustment to
		assay data.

ALS implement an internal QAQC program that includes the insertion of blanks, certified reference material and duplicates with each analytical run.

A review of both the Dragon Mining and ALS QAQC results indicates that the blank material, certified reference material and duplicates are within acceptable limits.

All significant intercepts are reviewed and verified by Dragon Mining geologists.

No twinned holes have been drilled in the reported programs.

P r i m a r y d a t a i s c o l l e c t e d b y Dragon Mining personnel at site using Excel work sheets . All measurements and observations are digitally recorded and transferred into an Access database.

Primary assay data is received direct from the laboratory in digital format. Primary assay and QAQC data is entered into an Access database.

Verification and validation of the databases is handled internally.

No adjustment has been made to the assay data.

- 26 -

Criteria	JORC Code Explanation
Location of	•	Accuracy and quality of
data points		surveys used to locate drill
		holes (collar and down-
		hole surveys), trenches,
		mine workings and other
		locations used in Mineral
		Resource estimation.
	•	Specification of the grid
		system used.
	•	Quality and adequacy of
		topographic control.

Commentary

Drill hole collars and starting azimuths have been accurately surveyed by contract surveyors. Down hole surveys are undertaken on all exploration and resource development holes.

Collars and underground mine surveys are performed using a Leica TCRP 1203+ Total Station to a level of accuracy of 0.05 metres.

Down hole surveys are carried out on all drill holes using a Maxibor II, EMS multi - shot or Devico Deviflex device. Down hole dip values were recorded at 10m intervals.

Data spacing and	•	Data spacing for reporting
distribution		of Exploration Results.

• Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation

	p r o c e d u r e ( s ) a n d
	classifications applied.
•	W h e t h e r s a m p l e
	c o m p o s i t i n g h a s b e e n
	applied.

The grid system used for the reporting of results is the Finnish Grid System - KKJ2. A local mine grid is used at the Jokisivu mine.

The local grid system is parallel to National Grid System, and equivalence of systems as follows (examples of coordinate values):

NorthingNat 6,779,500.00 = NorthingLoc 9,500.00,

EastingNat 2,425,800.00 = EastingLoc 5,800.00,

ElevationNat 80.00 = ElevationLoc 0.00.

NorthingLoc = NorthingNat - 6,770,000m

EastingLoc = EastingNat - 2,420,000m

ElevationLoc = ElevationNat - 80m

A series of fixed points are located at the surface form the basis of all topographic control at the Jokisivu Gold Mine . Additional fixed points have been established along the underground development and function as the elevation control underground.

- 27 -

Criteria

JORC Code Explanation

Commentary

Orientation of	•	Whether the orientation of
data in relation		sampling achieves unbiased
to geological		s a m p l i n g o f p o s s i b l e
structure		structures and the extent
		to which this is known,
		considering the deposit
		type.

U n d e r g r o u n d d r i l l i n g h a s been undertaken in a fan array type pattern. Pierce points are usually spaced nominally at 20 metres vertically and 20 metres horizontally. Sample lengths down hole varies and is dependent on geology.

M i n e r a l i s a t i o n d i s p l a y s satisfactory continuity in both geology and grade from hole to hole and will be sufficient to support the definition of a Mineral Resource or Ore Reserve and the classifications contained in the JORC Code (2012 Edition).

No sampling compositing has been applied.

D r i l l h o l e s a r e o r i e n t a t e d p r e d o m i n a n t l y t o e i t h e r t h e north or south (local mine grid) and drilled at an angle which is approximately perpendicular to the orientation of the mineralised trends.

• If the relationship between the drilling orientation and the orientation of key

m i n e r a l i s e d s t r u c t u r e s i s c o n s i d e r e d t o h a v e introduced a sampling bias, this should be assessed and reported if material.

The majority of drill holes are u n d e r g r o u n d d r i l l h o l e s a n d completed at various angles in a 'fan' array to optimally intersect the orientation of the mineralised trends.

No orientation based sampling bias has been identified in the data.

- 28 -

Criteria	JORC Code Explanation	Commentary
Sample security	•	T h e m e a s u r e s t a k e n t o	Chain of custody of samples is
		ensure sample security.	m a n a g e d b y D r a g o n M i n i n g .
			Dragon Mining personnel or drill

contractors transport diamond core to the core logging facilities where Dragon Mining geologists log the core. Core samples are transported t o t h e s a m p l e p r e p a r a t i o n laboratory and then on to the analysis laboratory using contract couriers or laboratory personnel. Dragon Mining employees have no involvement in the preparation or analysis of samples.

Audits or reviews	•	The results of any audits
		or reviews of sampling
		techniques and data.

Dragon Mining undertakes its own reviews and audits of sampling techniques and data.

Dragon Mining has completed a u d i t s o f t h e A L S M i n e r a l s facilities at Outokumpu, Finland; Rosia Montana, Romania and Vancouver, Canada.

The completed reviews and audits raised no issues.

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Section 2 Reporting of Exploration Results - Jokisivu Gold Mine

Criteria	JORC Code Explanation
Mineral tenement	•	T y p e , r e f e r e n c e n a m e /
and land tenure		n u m b e r , l o c a t i o n a n d
status		o w n e r s h i p i n c l u d i n g
		agreements or material
		issues with third parties
		such as joint ventures,
		partnerships, overriding
		r o y a l t i e s , n a t i v e t i t l e
		interests, historical sites,
		wilderness or national park
		and environmental settings.
	•	The security of the tenure
		held at the time of reporting
		a l o n g w i t h a n y k n o w n
		impediments to obtaining

a license to operate in the area.

Commentary

The Jokisivu Mining Concessions 'JOKISIVU' (K7244, 48.32 ha), 'JOKISIVU 2' (KL2015:0005, 21 . 30 ha) and 'JOKISIVU 3' (KL2018:0010, 8.97 ha) cover both the Arpola and Kujankallio deposits, which Dragon Mining are actively mining.

E x p l o r a t i o n L i c e n s e s a r e i m m e d i a t e l y a d j a c e n t t o t h e Mining Concession area, Jokisivu 4-5 (ML2012:0112, 85.76 ha) and Jokisivu 7-8 (ML2017:0131, 18.60 ha).

The tenements are in good standing and no known impediments exist.

Exploration done	•	A c k n o w l e d g m e n t a n d
by other parties		appraisal of exploration by
		other parties.

T h e f i r s t i n d i c a t i o n o f g o l d mineralization in the Jokisivu area was obtained in 1964.

Outokumpu Oy began exploring the area in 1985 and continued until 2003, when Dragon Mining acquired the Project . Dragon Mining advanced the project over the ensuing years, undertaking extensive drilling and completing m i n i n g s t u d i e s t o e n a b l e production to commence in 2009.

Production from the Jokisivu Gold Mine commenced with open-pit mining of the near surface portion of the Kujankallio deposit in September 2009. The near surface portion of the Arpola deposit was also mined by open-pit methods in 2011.

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Criteria

JORC Code Explanation

Commentary

Geology	•	Deposit type, geological
		s e t t i n g a n d s t y l e o f
		mineralisation.

Underground development of the Kujankallio deposit commenced in September 2010 access achieved through a decline portal located at the eastern most end of the Kujankallio open pit. Underground production from the Arpola deposit commenced in 2014.

T h e J o k i s i v u G o l d M i n e i s located in the Paleoproterozoic Vammala Migmatite Belt, which is dominated by tonalitic and granodioritic gneisses, micagneiss, migmatites, intermediate and mafic metamorphosed volcanic rocks as well as felsic and mafic plutonic rocks.

Gold mineralisation is hosted within a sheared and quartz-veined diorite unit surrounded by mica gneiss. The Kujankallio deposit consists of several gold-bearing lodes, having a total length of at least 350 metres. The lodes strike northeast, primarily dipping 50 degrees to the southwest.

The nearby Arpola deposit consists of several east-west trending gold lodes that extend over length of 150 metres . The Arpola lodes strike northeast and dip 50 degrees to the southwest.

Both deposits represent structurally controlled gold systems.

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Criteria	JORC Code Explanation
Drill hole	•	A	s u m m a r y	o f a l l
information		information material to
		t h e u n d e r - s t a n d i n g o f
		the	exploration results
		including a tabulation of the
		following information for
		all Material drill holes:
		•	easting and northing
			of the drill hole collar
		•	e l e v a t i o n o r R L
			( R e d u c e d L e v e l -
			elevation above sea
			level in metres) of the
			drill hole collar
		•	dip and azimuth of the
			hole
		•	down hole length and
			interception depth
		•	hole length
	•	If the exclusion of this
		information is	justified
		o n t h e b a s i s t h a t t h e
		information is not Material
		and this exclusion does
		n o t d e t r a c t f r o m t h e
		understanding of the report,

t h e C o m p e t e n t P e r s o n should clearly explain why this is the case.

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Commentary

T h e K u j a n k a l l i o a n d A r p o l a deposits form the Jokisivu mine.

The most recent diamond drilling has targeted the footwall zones of the Arpola deposit, confirming the continuity of these zones.

Full details of the holes drilled and their results is provided in:

T a b l e 1 - R e s u l t s f r o m t h e u n d e r g r o u n d d i a m o n d c o r e drilling program that targeted the Kujankallio Main Zone and Kujankallio Hinge Zone between the 420m and 500m levels at the Jokisivu Gold Mine.

T a b l e 2 - R e s u l t s f r o m t h e u n d e r g r o u n d d i a m o n d c o r e drilling program that targeted the Kujankallio Hinge Zone between the 500m and 530m levels at the Jokisivu Gold Mine.

T a b l e 3 - R e s u l t s f r o m t h e underground diamond core drilling campaign that is targeting the Arpola Hanging Wall Zone from the 170m and 190m levels at the Jokisivu Gold Mine.

T a b l e 4 - R e s u l t s f r o m t h e underground diamond core drilling campaign that is targeting the Arpola Hanging Wall Zone from the 120m level at the Jokisivu Gold Mine.

T h e J o k i s i v u G o l d M i n e h a s been operating since 2009. In the opinion of Dragon Mining, material drill results have been regularly reported previously to the market as required under the reporting requirements of the ASX Listing Rules and HKEx Listing Rules. No material information has been excluded from any of the releases compiled.

Criteria	JORC Code Explanation
Data aggregation	•	In reporting Exploration
methods		R e s u l t s , w e i g h t i n g
		a v e r a g i n g t e c h n i q u e s ,
		maximum and/or minimum
		grade truncations (e . g .
		cutting of high grades) and
		cut-off grades are usually
		Material and should be
		stated.
	•	Where aggregate intercepts
		incorporate short lengths

of high grade results and longer lengths of low grade r e s u l t s , t h e p r o c e d u r e used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail.

Commentary

Weighted average gold intercepts are reported at a 1 g/t gold cutoff with up to 2 metres of internal dilution allowed. No high-grade cuts were applied.

High-grade intervals internal to broader zones of mineralisation are reported at a 15 g/t gold cut-off as included intervals.

No metal equivalent values have been used or reported.

•	The assumptions used for
	a n y r e p o r t i n g o f m e t a l
	equivalent values should be
	clearly stated.
Relationship between •	These relationships are
mineralisation	particularly important in
widths and	the reporting of Exploration
intercept lengths	Results.
•	I f t h e g e o m e t r y o f t h e
	mineralisation with respect
	to the drill hole angle is
	known, its nature should be
	reported.

T h e r e c e n t d r i l l h o l e s a t Kujankallio were orientated at an average local grid azimuths of 146° and angled to an average dip of -17° for Campaign 1 and 112° and angled to an average dip of -22° for Campaign 2. These angles are approximately perpendicular to the orientation of the targeted mineralised trends.

• If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. 'down hole length, true width not known').

At Kujankallio the mineralised zones strike at approximately 280° (local grid) and are variably dipping between 45° and 65° to the north (local grid).

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Criteria

JORC Code Explanation

Commentary

Diagrams	•	A p p r o p r i a t e m a p s a n d
		sections (with scales) and
		tabulations of intercepts
		should be included for any
		significant discovery being
		reported . These should
		include, but not be limited
		t o a p l a n v i e w o f d r i l l
		hole collar locations and
		appropriate sectional views.

The recent drill holes at Arpola were orientated at an average local grid azimuths of 134° and angled to an average dip of 12° for Campaign 3 and 119° and angled to an average dip of -0° for Campaign 4. These angles are approximately perpendicular to the orientation of the targeted mineralised trends.

At Arpola the narrow mineralised zones strike at approximately 280° (local grid) and are variably dipping between 45° and 65° to the north (local grid).

Only down hole lengths have been reported, true widths have not been reported.

Relevant diagrams have been included within the main body of text.

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Criteria

JORC Code Explanation

Commentary

Balanced Reporting •	Accuracy and quality of
	surveys used to locate drill
	holes (collar and down-
	hole surveys), trenches,
	mine workings and other
	locations used in Mineral
	Resource estimation.

Reporting of drill details has been provided in this report . A l l m e a n i n g f u l a n d m a t e r i a l exploration data has been reported.

Full details of the holes drilled and their results is provided in:

• W h e r e c o m p r e h e n s i v e reporting of all Exploration

Results is not practicable, representative reporting of both low and high grades a n d / o r w i d t h s s h o u l d b e p r a c t i c e d t o a v o i d misleading reporting of Exploration Results.

T a b l e 1 - R e s u l t s f r o m t h e u n d e r g r o u n d d i a m o n d c o r e drilling program that targeted the Kujankallio Main Zone and Kujankallio Hinge Zone between the 420m and 500m levels at the Jokisivu Gold Mine.

T a b l e 2 - R e s u l t s f r o m t h e u n d e r g r o u n d d i a m o n d c o r e drilling program that targeted the Kujankallio Hinge Zone between the 500m and 530m levels at the Jokisivu Gold Mine.

T a b l e 3 - R e s u l t s f r o m t h e underground diamond core drilling campaign that is targeting the Arpola Hanging Wall Zone from the 170m and 190m levels at the Jokisivu Gold Mine.

T a b l e 4 - R e s u l t s f r o m t h e underground diamond core drilling campaign that is targeting the Arpola Hanging Wall Zone from the 120m level at the Jokisivu Gold Mine.

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Criteria	JORC Code Explanation	Commentary
Other substantive	•	O t h e r e x p l o r a t i o n	Investigative geological work
exploration data		data, if meaningful and	completed at the Jokisivu Gold
		m a t e r i a l , s h o u l d b e	Mine is dominated by diamond
		reported including (but	core drilling . The results for
		not limited to): geological	completed drilling campaigns have
		observations; geophysical	previously been regularly reported
		survey results; geochemical	to the ASX.
		survey results; bulk samples
		- s i z e a n d m e t h o d o f
		treatment; metallurgical
		test results; bulk density,
		groundwater, geotechnical
		and rock characteristics;
		potential deleterious or
		contaminating substances.
Further work	•	The nature and scale of	Mine development is ongoing.
		planned further work (e.g.	Dragon Mining is undertaking
		tests for lateral extensions	drilling underground at a number
		o r d e p t h e x t e n s i o n s o r	of levels to better understand
		l a r g e - s c a l e	s t e p - o u t	the nature and extent of the gold
		drilling).		mineralisation.
	•	D i a g r a m s	c l e a r l y	Refer to diagrams in the body of
		h i g h l i g h t i n g	t h e a r e a s	text.

o f p o s s i b l e e x t e n s i o n s , i n c l u d i n g t h e m a i n geological interpretations and future drilling areas, provided this information is not commercially sensitive.

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