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 Criteria Commentary cuprite, digenite and native copper. Localised occurrences of secondary zinc are also present in the form of smithsonite; however, zinc is generally depleted in the oxide zone. Drillhole information Drillhole information is not included here because all RC and diamond core drillholes used to support the Mineral Resource estimate. The distribution of zinc, copper, silver and gold grades through the Mineral Resource block model fairly reflects the downhole location and tenor of mineralisation in the drillholes. Data aggregation methods Exploration results are not reported here, with all RC and diamond core drillholes were used to support the Mineral Resource estimate. Compositing of sample data as carried out in support of the Mineral Resource estimate is discussed in Section 3 of this Table. Relationship between mineralisation widths and intersection lengths The geometry of mineralisation was interpreted from drillhole results and incorporated into the Mineral Resource estimate. The orientation of the drillholes is orthogonal to the strike of mineralisation and limits the amount of bias in drill sampling as much as possible. The Competent Person considers the orientation of drillholes with respect to the attitude of the lithologies and/or structures hosting mineralisation was sufficient to support the reporting of the Mineral Resource. Diagrams Maps and cross sections of the Sandiego deposit are presented in the body of this report. Balanced reporting Drillhole information is not included here because all RC and diamond core drillholes were used to support the Mineral Resource estimate. The distribution of zinc, copper, silver and gold grades through the Mineral Resource block model fairly reflects the downhole location and tenor of mineralisation in the drillholes. Other substantive exploration data In 2008, AAR drilled four diamond drillholes for metallurgical testwork purposes. The drill core penetrated oxide, transitional and fresh rock zones, and the core half cored with the sample placed into a refrigerated container and subsequently transported to AMMTEC laboratories in Perth by refrigerated container for metallurgical testing. In 2010, seven diamond drillholes were drilled for geotechnical assessment. Downhole electromagnetic (DHEM) surveys were carried out on three holes at Koongie Park by Outer Rim Exploration/Southern Geoscience Consultants Pty. Ltd. Holes SRCD21 and SRCD24 (Sandiego) and ORCD45 (Onedin) were logged. Density measurements were taken from 1,251 diamond core billets, sourced from 12 diamond drillholes. Samples were selected from every 1 m or 5 m downhole. Density measurements were carried out by AAR field staff at the Halls Creek sample yard. The core billets were initially wrapped in cling film, and density was determined using a conventional sample weight in air and then water. Samples with measured density values of >5 were discarded from the density database as these were considered too high for the style of mineralisation. Further work The Mineral Resource models were created in 2009 and 2010 and the mineralisation domains are based upon lower cut-off grades for copper and zinc supported by economic considerations of that time. The resource models should be reviewed and revised if alternative lower cut-off grades for the domains are warranted. A comprehensive review of sampling and associated quality assurance/quality control (QAQC) monitoring programs should be instigated. Limited supporting documentation related to RC drilling and sampling, and QAQC results has been located. Further drilling should adopt a comprehensive QAQC monitoring program. Including the use of filed duplicates for RC drilling, a representative suite of standards to be used, laboratory duplicates and umpire analyses. An audit of the drillhole database should be carried out to ensure the integrity of the database (including but not limited to database security, correct populating of tables with data) is sufficient to support the Mineral Resource and future mining studies. AuKing Mining Limited | PROSPECTUS 133