AuKing Mining Limited Prospectus

3 2.3 Potential application at Onedin (Koongie Park) The potential application of the AmmLeach® process to the Onedin deposit and, in particular, the oxide and transition ore zones at Onedin is highlighted by the similar carbonate-hosted mineralogical composition exhibited at Leon and the north-west Qld project, summarised as follows: Leon – malachite, azurite, digenite, covellite and chalcocite NW Qld project – malachite, digenite, chalcocite, native copper, azurite and cuprite Onedin – malachite, covellite, chalcocite, cuprite, digenite, native copper, chrysocolla. In the case of the zinc mineralisation at Onedin, the Independent Technical Report contained in section 6 of the Prospectus establishes that most of the mineral value within the Onedin transition zone is comprised of zinc oxide minerals, mostly in the form of smithsonite (zinc carbonate). On 4 April 2014 the Alexander CEO stated that “We have already built up an extensive database of all of the world's major zinc oxide deposits and conducted favourable AmmLeach® amenability testwork on samples from a significant number.” 6 2.4 Risks with commercial application A deep weathering profile is exhibited at Onedin, resulting in three weathering domains: an oxidised zone at surface, a primary zone at depth, and the transition zone in between. Each zone has very different mineral assemblages and consequently very different metallurgical properties. As noted above, the copper minerals present in each of the Leon, NW Qld and Onedin deposits are similar. However, while the relative percentages of each mineral in the oxide and transition zones is known for Leon and the NW Qld deposits, it is not well known for Onedin. This composition will only be defined and better understood following further drilling, sampling and mineralogy studies. Following these studies, the Company will have an indication as to whether the AmmLeach® process will produce economic recoveries for the Onedin oxide and transition materials. In the case of the zinc mineralisation in the oxide and transition zones at Onedin, the process of extracting zinc by way of ammonium carbonate has been used for the commercial recovery of zinc for many years and dates back to the Schnabel process in the 1880’s. 2.5 Additional information On page 70 of the Prospectus the Independent Technical Report contains Mineral Resource estimates for the Sandiego and Onedin deposits. The proposed testing of the AmmLeach® process (and its success, or otherwise) has had no bearing on the Competent Person’s assessment in reporting the Mineral Resource estimates for the oxide and transition zones at Onedin and it was not considered by the Competent Person. 3. Timetable The Prospectus contains an indicative timetable in Key Offer Statistics and Important Dates (page 4), section 1 Investment Overview (page 20) and Section 2.2 (page 31). This indicative timetable had been prepared on an estimated date that the Company would make the Notice of Meeting for the General Meeting available to Shareholders. The Notice of Meeting has been lodged with ASX and ASIC in accordance with the Listing Rules and the Corporations Act respectively and each of ASX and ASIC are currently reviewing the Notice of Meeting. Accordingly, the Company has not yet been able 6 “World's First Zinc Cathode Produced Using AmmLeach® Technology”, Alexander Mining plc announcement dated 4 April 2014, (https://investegate.co.uk/Index.aspx?searchtype=3&words=AXM&pno=5) , included in accordance with ASIC Corporations (Consent to Statements) Instrument 2016/72 and consent has not been obtained for this statement.