Metal Bank Limited reported a JORC 2012 Mineral Resource Estimate ("MRE") for the Homestead gold deposit (Homestead) of 880Kt at 1.42g/t Au for 40,300oz Au (0.5g/t Au cut-off), with over 80% of the Resource within Indicated classification. The Homestead deposit represents just one of a number of advanced gold targets in MBK's Livingstone Gold Project in the Bryah Basin near Meekatharra in Western Australia. The previous JORC 2004 Inferred Resource of 49,909oz Au for Homestead was originally reported by Talisman Mining Ltd. and by Kingston Resources Limited 2. Recent drilling of 10 RC holes by MBK in 2022 permitted this 2012 JORC Resource classification update by demonstrating continuity of mineralisation, QA/QC of previous work and applying updated economic parameters.

The MRE was prepared by Cube Consulting of Perth using geological and mineralisation interpretation by MBK geologists. The mineralisation remains open at depth and represents an opportunity for further growth, together with the nearby Winja satellite deposit. Geology The geology of the Homestead Prospect consists of variably outcropping talc-chlorite-carbonate ultramafic rocks/schists and mafic rocks/schists of the Narracoota Volcanics, as well as minor phyllites, dolomites and intermediate/felsic rocks.

These basement units are covered by a thin veneer of colluvial pisolitic laterite and recent alluvial cover. A partially stripped ferruginous laterite/saprolite profile is well developed over the prospect area, with this in places covered by minor silcrete or siliceous calcrete. The deposit is linear in shape, striking towards the WNW (280), Au mineralisation is hosted in a system of steeply NNE-dipping structurally controlled orogenic quartz/carbonate veins and shears with mineralised shoots ranging from 2 m to 15 m thick.

Within these veins, mineralisation within the oxidised zone is associated with limonite replacement of pyrite and carbonate minerals. The weathering profile is locally depressed over the mineralisation, coincident with the dip of the mineralised lodes. The bulk of mineralisation is shallow, between surface and 75m depth, within the oxidised and transitional zone, amenable to open pit mining.

There has been a certain degree of lateritic enrichment/mobilisation of gold, with a small near-surface, near-lode supergene gold blanket developed principally on the hanging-wall of the mineralised lode position. Below the base of oxidation, fresh mineralisation is hosted within quartz-carbonate-chlorite- (pyrite)-(gold) assemblages, with suggestion of a moderate to strong quartz-pyrite-carbonate proximal alteration associated with the gold mineralisation, possibly within a (distal) chloritic envelope. Due to the shallow nature of drilling a number of down-dip extensions of mineralised shoots in the existing Mineral Resource area remain untested and represent an opportunity for significant growth.

This includes an apparent grade increase at depth in several areas based on drilling to date, and there are also adjacent and sub-parallel splays, shoots and intersections of note. These zones currently fall outside of pit shell modelling and the Mineral Resource Estimate, and will require further validation work to add to the Homestead Au Resource inventory. Forward Plan The Homestead Au deposit represents only one of a number of quality gold prospects within the Livingstone project.

MBK's work program for the Livingstone Project for the next 12 months is aimed to build existing Resources and identify new deposits, and includes: - Resource infill and extension drilling at the Kingsley deposit; - Maiden Resource Estimation at the Livingstone North prospect; and - Development and testing of additional advanced and regional targets to identify a clear path to defining additional Resources within the tenement package. The Company is preparing to award drilling contracts in anticipation of drilling programs commencing in June 2023.