AuKing Mining Limited Prospectus

A U K ING M INING L IMITED I NDEPENDENT T ECHNICAL A SSESSMENT R EPORT – W ESTERN A USTRALIAN M INERAL A SSETS CSA Global Report Nº R278.2020 36 3.3 Regional Exploration AuKing propose using EM geophysical methods to drive future exploration for new discoveries. CSA Global endorse this strategy as Koongie mineralisation is highly conductive, the country rock is highly resistive, known mineralisation has responded to EM surveys and many VMS deposits have been detected with EM surveys globally. CSA Global consider the geophysical approach to exploration recommended by Newexco in 2014 remains broadly appropriate (Amann, 2014). Newexco recommended as the most effective path to discovery of new VMS deposits to comprise: • A regional airborne EM survey with ground follow‐up and use of some innovative experimental exploration geophysics • Follow up of unexplained EM anomalies with interpreted bedrock conductive sources • Revisit unexplained conductive sources in the modelling of downhole TEM at both Sandiego and Onedin and design transmitters to better couple with the unexplained and down plunge extents of the mineralisation • Develop a rigorous 3D model using complete survey information of all drillholes and geophysical interpretation for ease of discussion and targeting. AuKing propose to engage an experienced geophysicist to design deep penetrating EM geophysical surveys, based on an assessment of available technology and the results of historical surveys, across the most geologically prospective parts of the Mimosa Member of the KPF. The highest-ranking conductors detected would be tested by diamond drilling intersecting targets at least 150 m below surface. Regardless of lithologies intersected, drillholes would be surveyed with DHEM and the cores analysed for multi-elements with litho-geochemical analysis methods applied, effectively increasing the “search area” tested by each drillhole. CSA Global consider this strategy appropriate. AuKing Mining Limited | PROSPECTUS 111