Rand Mining : EKJV Exploration Report June 2022 Quarter

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ASX ANNOUNCEMENT

27 July 2022	A.B.N. 41 004 669 658

EKJV Exploration Report

June 2022 Quarter

For personal use

ASX:RND

Board of Directors

Mr Otakar Demis

Chairman & Joint Company Secretary

Mr Anton Billis

Managing Director

Mr Gordon Sklenka

Non‐Executive Director

Mr Brett Tucker &

Mr Roland Berzins

Joint Company Secretaries

Rand Mining Ltd (ASX code: RND) has pleasure in providing the Quarterly EKJV Exploration Report.

The EKJV is located 25km west north west of Kalgoorlie and 47km north east of Coolgardie. The EKJV is between Rand (12.25%), Tribune Resources Ltd (36.75%) and Evolution Mining Limited (51%).

This report has been released with the approval of the Board of Rand Mining Ltd.

‐ENDS‐

For further information, please contact:

Brett Tucker

Joint Company Secretary

1. [e-mail] Ph: + 61 8 9482 0500

For Media and Broker Enquiries

Peter Klinger

Cannings Purple

1. [e-mail]: + 61 411 251 540

Suite G1, 49 Melville Parade South Perth WA 6151

1. [phone] | F: [phone]

1. www.randmining.com.au

For personal use only

EAST KUNDANA JOINT VENTURE

2022 Quarter 4

EKJV Exploration Report

June, 2022

For distribution to JV Partners:

• Evolution Mining Limited
• Tribune Resources Limited
• Rand Mining Limited

For personal use only

CONTENTS
1	EXECUTIVE SUMMARY..................................................................................................................	3
2	EXPLORATION ACTIVITY ..............................................................................................................	3
2.1	Rubicon-Hornet-Pegasus (RT/DT) ..............................................................................................	3
3	EXPLORATION RESULTS ................................................................................................................	3
3.1	Mary Fault ....................................................................................................................................	3
4	Future Work ..................................................................................................................................	4
4.1	In-mine Exploration .....................................................................................................................	4
5	APPENDIX 1 ..................................................................................................................................	5
TABLES AND FIGURES
	Table 1: Summary of assays results returned for Rubicon drilling during Q4 FY22. ........................	3
	Table 2: Previously reported results within the hanging wall of the Mary Fault Zone..............	Error!
	Bookmark not defined.
	Figure 1: Plan section of results received for Mary Fault drilling during Q4 FY22 ...........................	4
	Figure 2: Long section of results received for Mary Fault ..................	Error! Bookmark not defined.

EKJV Quarterly Report - FY22 Q4

Page 2

1 EXECUTIVE SUMMARY

No Exploration activity in FY22 Q4 was conducted for the East Kundana Joint Venture (EKJV). Three of the remaining Mary Fault drill holes completed in Q3 have returned during Q4, completing all exploration activities for EKJV for FY22.

For personal use only

2 EXPLORATION ACTIVITY

2.1 Rubicon-Hornet-Pegasus (RT/DT)

No exploration activities to report for FY22 Q4. Underground drilling focused on near mine resource definition work, to increase resource confidence of the Raleigh-Saddler deposit, for the proposed mining schedule.

3 EXPLORATION RESULTS

3.1 Mary Fault

Three holes were returned that targeted the Mary Fault Zone from Q3 drilling program (Table 1 and Figure 1).

The mineralised intersection of the Mary Fault are thin veined quartz veins 1 - 5 cm in thickness located in the hanging wall of the Mary Fault. The veins occur approximately 1 - 3m into the hanging wall of the Mary Fault. Although the modelled Mary Fault zone is consistent, the Mary Fault hanging wall drill intercepts demonstrate limited continuity for mineralisation.

Further work at Mary Fault involves consolidating the geological knowledge and generating a geological interpretation, that will inform a resource estimate for the 31 December 2022 MROR.

Hole ID		East			North			RL			Dip			Azi			Hole			From			To			DH Width			Grade			True
	(MGA)			(MGA)			(AHD)					(MGA)			Depth									g/t Au			Width
STKDT22008		333882		6596890		206
					‐51		85		234		83.9		84.3		0.4		7.1		0.3
																			193		193.5		0.47		3.3		0.2
STKDT22006		333883		6596890		206			‐43		102		188.95		157		158.5		1.5		8.6		1
STKDT22005		333883		6596890		207			‐36		66		198.08		114.5		114.9		0.43		3.1		0.3

Table 1: Summary of assays results returned for Rubicon drilling during Q4 FY22.

EKJV Quarterly Report - FY22 Q4

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For personal use only

Figure 1: Plan section of results received for Mary Fault drilling during Q4 FY22

4 Future Work

4.1 In-mine Exploration

Future in-mine Exploration for FY23 will be based on Mineral Resource updates and economic evaluation of the drilling results around Mary Fault and Startrek.

Competency statement

The information in this report relating to Exploration Results is based on information compiled by Bradley Daddow who is a Member of Australasian Institute of Geoscientists (AIG) and has sufficient exploration experience which is relevant to the style of mineralisation under consideration to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Daddow is a full-time employee of Evolution Mining and consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

EKJV Quarterly Report - FY22 Q4

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