Wild Irishman Project

• adjacent to the 8 Mile Project
• expands the existing 8 Mile Project area and allows for southern extensions to the Floris Find mineralisation to potentially grow the existing JORC resource
• also contains two historical gold workings:
  • “Wild Irishman” (with historic production and rock chips to 40g/t Au); and
  • “Bullant” (with previous drilling returning up to 10m @ 1.4g/t Au)
• These areas and other anomalous zones are interpreted as part of an intrusion-related Au system

Geological map of 8 Mile and Wild Irishman with high priority areas

Wild Irishman, adjacent to the 8 Mile project, enhances the Company’s search for intrusive related Au systems in a prospective region that hosts multi-million-ounce gold mines including the Cracow (3Moz Au), and Mt Rawdon (2Moz Au) gold mines as well as the historical Mt Morgan deposit (8Moz Au).

Wild Irishman includes two historical gold prospects and will allow MBK to actively explore for southern extensions to the Floris Find mineralisation at 8 Mile and potentially grow the existing JORC resource.

Wild Irishman and Bullant

Wild Irishman, located approximately 20km south-east of Gin Gin, is contiguous with the 8 Mile Project, and hosts two historical gold prospects: Wild Irishman and Bullant. (Figure 6)

Historically Wild Irishman produced 79 ounces of gold at an average grade of 17g/t Au in the 1930’s. Workings comprised a series of shafts and drives up to 15m deep over 50m strike. Gold is hosted in quartz veins and stockworks associated with the intrusion of various granitoids, with grades in areas exceeding 40g/t (1934 government sampling). These intrusions form altered margins and hornfels in the surrounding metasediments, with shallow drilling by Placer in 1994 intersecting hornfels sediments suggesting the interpreted intrusion remains untested.

At Bullant, 1km to the SE of Wild Irishman, a north-south trending brecciated and mineralised fault appears to extend for 3km with workings present over a strike of 200m. Au mineralisation of up to 27.4g/t Au was reported in rock chips. Limited drilling in 1988 by Keela-Wee Exploration and Axis Mining intercepted 10m @ 1.4g/t Au. This zone is also coincident with hydrothermal destruction of magnetite in regional magnetic data suggesting a blind IRG system.

Initial work programs to be completed in 2021 include initial field reconnaissance, mapping and systematic surface geochemistry (subject to Covid-19 travel restrictions).

Floris Find extensions

Metal Bank is actively exploring for intrusion related gold in the Goodnight Beds within 8 Mile’s EPM26945. The Eastern Target, including the Flori’s Find prospect, is in the southeast of the EPM area and was the main focus for advanced exploration activities in early 2021. Geological mapping and interpretation by MBK indicates that this target continues south into the newly granted Wild Irishman EPM27693.

The grant of the Wild Irishman EPM allows MBK to actively explore for southern extensions to the Floris Find mineralisation and potentially grow the existing JORC resource.

MBK’s planned initial field reconnaissance at Wild Irishman, including geochemical sampling, will build on MBK’s work to the north. Subject to results, subsequent ground geophysics is proposed to refine drilling targets to be tested in conjunction with the next phase of work at Flori’s Find, aimed at infilling the near surface Exploration Target conversion to a Mineral Resource.

Further information is available by clicking the following MBK ASX releases:

04/08/2021 – EPM 27693 “Wild Irishman” Granted

Competent Persons Statement

The information on this web page that relates to Exploration Results and Exploration Target statements is based on information compiled or reviewed by Mr Rhys Davies. The Company is not aware of any new information or data that materially affects the information included in referenced ASX Releases and in the case of reported Mineral Resources, all material assumptions and technical parameters underpinning the estimates continue to apply and have not materially changed. Mr Davies is a Member of The Australasian Institute of Geoscientists and is a contractor to the Company. Mr Davies 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 a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Davies consents to the inclusion on this web page of the matters based on his information in the form and context in which it appears. The Exploration Targets described on this web page are conceptual in nature and there is insufficient information to establish whether further exploration will result in the determination of Mineral Resources.