Red5 Annual Report 2022

WESTERN AUSTRALIAN GOLD OPERATIONS KING OF THE HILLS GOLD PROJECT MINERAL RESOURCES AND ORE RESERVES Statement The Mineral Resource for the King of the Hills (KOTH) project has increased by 6% for an additional 277koz since 30 June 2021. During the 2022 financial year, Red 5 completed a 70,000 metre reverse circulation (RC) open-pit grade control program targeting stage 1 of the KOTH open-pit and an approximate 40,100 metres of underground drilling for stope de-risking and resource development. The 7 x 7 metre spaced open-pit grade control program has been modelled and reported as Measured along with a full resource update on available assays for underground for the 30 June 2022 resource model update. The KOTH Mineral Resource, which includes all historic stockpiles, ROM and underground broken stocks, as at 30 June 2022 is 105.5Mt@ 1.4g/t for 4.75Moz of contained ounces. The combined open-pit and underground Ore Reserve at KOTH, which includes regional open pit reserves, as at 30 June 2022 is 70.2Mt @ 1.2g/t for 2.66Moz of contained ounces. This represents an increase of 12.7% for an additional 300koz, net after depletion since 30 June 2021. The key catalyst for this growth is in the KOTH open-pit where grade control drilling has driven the reclassification of waste into ore and the deepening of the ultimate pit design. The KOTH Mineral Resource and Ore Reserve estimates, net of mining depletion, as at 30 June 2022 are detailed on the next page. 11 2022 ANNUAL REPORT

RkJQdWJsaXNoZXIy MjE2NDg3