Quarterly Activities Report to 30 June 2023

Tomingley Gold Operations (Tomingley)

Gold production of 15,822oz met forecast for the quarter, with site operating cash costs at A$1,356/oz and AISC of A$2,174/oz.
FY2023 full year production was 70,253oz at an AISC of A$1,602/oz. This exceeded the original FY2023 guidance of 55,000oz to 60,000oz production at an AISC of $A1,650/oz to $1,900/oz.
Gold sales for the quarter of 15,136oz for revenue of A$43.7m at an average price of A$2,884/oz. FY2023 full year gold sales were 70,498oz for revenue of A$190.5m at an average price of A$2,703/oz.
FY2024 guidance for Tomingley is 60,000oz to 65,000oz production at an AISC of $A1,750/oz to $2,100/oz).

The Environmental Protection Licence has been varied by the NSW Environmental Protection Agency to include the TGEP.
In July 2023, post quarter end, the Mining Lease that includes the TGEP has been approved.
The exploration drive from the existing Tomingley underground to Roswell has been completed. This will now become the production decline.
Grade control drilling of the Roswell orebody is underway.

Assay results were received during the quarter from diamond core and RC drilling at Boda Two intersecting zones of extensive gold-copper porphyry mineralisation. Significant intercepts included:

BOD099	82m grading 0.63g/t AuEq* (0.36g/t Au, 0.19% Cu) from 57m
incl	18m grading 1.04g/t AuEq (0.54g/t Au, 0.35% Cu) from 74m
also	10m grading 1.13g/t AuEq (0.88g/t Au, 0.22% Cu) from 106m

BOD112	194m grading 0.41g/t AuEq (0.21g/t Au, 0.14% Cu) from 852m
incl	2.4m grading 2.04g/t AuEq (0.83g/t Au, 0.86% Cu) from 1008.6m
and	315.7m grading 0.60g/t AuEq (0.32g/t Au, 0.20% Cu) from 1139m
incl	28m grading 1.45g/t AuEq (0.95g/t Au, 0.35% Cu) from 1192m
also	28m grading 1.51g/t AuEq (0.65g/t Au, 0.60% Cu) from 1368m

BOD113	145.8m grading 0.58g/t AuEq (0.34g/t Au, 0.17% Cu) from 1204.2m
incl	25m grading 1.02g/t AuEq (0.66g/t Au, 0.25% Cu) from 1233m
and	156.2m grading 0.41g/t AuEq (0.22g/t Au, 0.14% Cu) from 1391m
incl	13.4m grading 0.90g/t AuEq (0.50g/t Au, 0.28% Cu) from 1392m

BOD114	418m grading 0.53g/t AuEq (0.32g/t Au, 0.15% Cu) from 1064m
incl	11m grading 1.17g/t AuEq (0.78g/t Au, 0.27% Cu) from 1065m
also	16m grading 1.13g/t AuEq (0.65g/t Au, 0.33% Cu) from 1113m

Four high-capacity drill rigs are in operation in the Boda district, comprising two RC and two diamond core rigs. An updated mineral resource estimation for Boda, expected to include Boda Two, is anticipated in Q4 2023 and for Kaiser in Q1 2024.

Cash, bullion and listed investments position totalled A$107.3M.
Shareholding in ASX-listed gold producer Calidus Resources Ltd (ASX:CAI) represents ~9.0% ownership of issued capital in Calidus at end of June quarter.