AuKing Mining Limited Prospectus

AuKing Mining Limited Solicitor’s Report on Tenements HopgoodGanim Lawyers Page 7 of 46 Expiry and Extension of Term of Tenements 3.27 The Tenement Schedule sets out the expiry dates of the Tenements. In particular, we note that: (a) E80/4957 is due to expire in 2021; and (b) E80/4960 is due to expire in 2022. 3.28 See below at 4.14, 4.3 and 4.25 in relation to extensions of the term of an exploration licence, prospecting licence and mining lease. Conditions and Programmes of Work 3.29 The Tenements are subject to the standard conditions and endorsements imposed by DMIRS. 3.30 Non-standard conditions (ie those not listed in the DMIRS standard conditions and endorsements list) applicable to each Tenement are set out in the Non-Standard Conditions Schedule at Schedule 2. 3.31 There was no indication from the Tenement Searches that any of the standard or non-standard conditions of the Tenements have been breached by the holders of the Tenements, to the extent that the Searches reveal such information. 3.32 Various Tenements which overlap pastoral leases are subject to standard conditions that require the notification of the pastoral lessee prior to undertaking any airborne surveys or ground disturbing activities. It is also a condition that the tenement holder must notify the pastoral lessee of any transfer of these Tenements. The specific pastoral leases overlapping the Tenements are further discussed at paragraph 3.40. 3.33 See below at 4.34, 4.64 and 4.69 in relation to conditions and programmes of work. Overlapping Tenements 3.34 The Quick Appraisals show that there are various third party tenements and tenement applications which overlap the Tenements, as set out in the table below. AAR Tenement Overlapping Tenements 1. E80/5263 (granted 4 December 2019) Halls Creek Mining Pty Ltd E80/2601 (0.46%) (granted 29 July 2002) (as exploration licences cannot overlap with exploration licences, this appears to be a mapping error) Halls Creek Pty Ltd L80/71 (0.19%) (granted 30 August 2012) – we have not been provided with an access agreement for the overlapping area Halls Creek Mining Pty Ltd P80/1843 (<0.01%) (granted 8 March 2017) (as prospecting licences cannot overlap with exploration licences, this appears to be a mapping error) 2. E80/4389 (granted 17 September 2010) Halls Creek Mining Pty Ltd L80/71 (0.24%) (granted 30 August 2012) – we have not been provided with an access agreement for the overlapping area continued 9. S olicitor’s Report on Koongie Park Tenements 162