Krakatoa Resources Limited reported encouraging assay results from the maiden aircore (AC) drilling program at the Rand Bullseye Magnetic targets, located 2.5 kilometres northeast of Rand within EL9000 in the NSW Riverina district. Wide-spaced aircore drillholes were designed to test a variety of targets, including conductive and/or chargeable anomalies (defined by the 2021 gradient array surveys) and magnetic paleochannels, which are concealed by transported cover. Some holes were drilled to test the interface directly above a number of bedrock anomalies defined in the dipole-dipole IP survey (Figure 1). Finally, and most importantly, the program aimed to confirm that the three "bullseye" magnetic anomalies (west, north and south; Figure 1) are sourced from intrusive rocks and to test for IRGS mineralisation within, and proximal to them. Drilling was undertaken during March-April 2021; 43 holes totalling 2,761.7m (including metres 92 of RC hammer) were completed over the 3 areas. Holes were nominally drilled to blade refusal, usually the top of fresh bedrock. Samples were nominally speared in to 2 to 5 metres composites with narrower samples taken near the bottom of hole. The holes returned moderately to strongly anomalous IRGS pathfinder elements with anomalous gold inseveral holes within the weathered intrusive units, confirming the IRGS model. Additionally, several holes intersected phyllic (sericite ± silica ± pyrite) alteration within, or proximal to the intrusives, typical of IRGS. Better gold results from bedrock include: 3m @ 179ppb (0.179g/t) Au from 30 metres in HAC019; 11.2m @ 146ppb (0.146g/t) Au and 502ppm As from 48 metres (to EOH) in HAC019; including 1m @ 1170ppb (1.17g/t) Au and 1635ppm As from 54 metres; 2m @ 48ppb (0.048g/t) Au from 26 metres in HAC020 (basement from 28m); 8m @ 115ppb (0.115g/t) Au from 60 metres in HAC040; and 4m @ 184ppb (0.184g/t) Au from 38 metres in HAC041. The anomalous gold-in-bedrock results are also supported by strongly anomalous IRGS pathfinder elements including arsenic (As), beryllium (Be), bismuth (Bi), molybdenum (Mo), tellurium (Te), antimony (Sb), tin (Sn) and tungsten (W). Silver, copper, lead and zinc were also strongly anomalous. The last twelve months of exploration by Krakatoa on the Rand Project has highlighted the potential for a substantial IRGS to be hosted within the Bulgandry - Rand area. Historical mining and the recent reconnaissance drilling strongly supports this hypothesis. Considering that the first-pass AC holes have confirmed the IRGS model with gold mineralisation intersected in all 3 intrusives, the Company is encouraged and will proceed with further exploration programs. Follow-up work for the bullseye targets at Rand will include an RC ± DD drilling program to test the IP anomalies and the intrusives, comprising 6-10 holes for up to 2000 metres. It's envisaged that the planned drilling will be completed after crops are harvested, possibly in late 2021 to early 2022. Further fieldwork is required to investigate the potential of the Silurian granites for tin-tungsten (Sn-W) mineralisation. These areas will be part of the regional auger infill and expansion survey and will also be subjected to further mapping and prospecting.