Krakatoa Resources Limited update the market on the completion of recent field programs at the Sugarloaf Porphyry Cu-Au target, Belgravia Project, near Molong in Central NSW. The Sugarloaf prospect is located within the Lachlan Fold Belt's copper- gold province within the same Ordovician volcanic sequence that hosts Copper Hill, Cadia and the Boda discovery. Sugarloaf is located 7 kms southeast of the Copper Hill Porphyry Cu-Au Deposit that contains 890,000 ounces of gold and 310,000 tonnes of copper (GCR ASX announcement 19 January 2021). In June 2021 a small aircore (AC) program and large soil survey extension were completed. Fieldwork was delayed by significant snow and rain events. The AC program totalled 37 holes for 295.5 metres and the soil survey 594 samples (Figure 2). Drilling tested the distinct magnetic low feature (8 holes) in the center of a larger demagnetized zone, numerous soil and/or rock-chip (Au, Cu and Mo) anomalies, deep ground penetrating radar (DGPR) survey anomalies, structural zones and mapped alteration zones. The regolith profile developed at Sugarloaf is thin; consequently aircore holes were relatively shallow ranging from 1 to 15 metres depth with an average of 8.0 metres. The original 2020 soil survey that covered an area 850 metres east-west by 950 metres north-south over the central magnetic low was expanded significantly, and now covers an area spanning 1.35km east-west by 1.65km north-south. Krakatoa has interpreted Sugarloaf as potentially representing a porphyry intrusion underlying the geophysical anomaly's centre with potential skarn mineralisation preferentially developed along the faulted northwest contact. Sugarloaf is also considered prospective for mesothermal vein (gold) deposits on splays to several significant faults and epithermal (gold-silver) and contact-metasomatic (skarn and carbonate-replacement styles) gold-base metals deposits. Due to a high voltage powerline being located close to the prospect centre, standard electrical geophysical methods such as Induced Polarisation (IP) (commonly used in porphyry copper exploration) cannot be utilised. After receipt and interpretation of the results from the recent aircore drilling and soil programs, coupled with the magnetic modelling and DGPR, the Company will finalise holes to test deeper targets. KTA considers the economic potential for copper-gold mineralisation associated with a porphyry may lie at depth (below 200 metres). However, the Company also believes high-grade copper-gold veins may extend upwards from a porphyry source forming a secondary target at shallower levels, along with any deeper-seated leakage zones.