AuKing Mining Limited Prospectus

AKN has identified several factors about the Koongie Park Project that make it attractive for VMS exploration, namely: a. favourable regional geological setting; b. presence of proximal felsic volcanic facies and biomodal volcanism; c. abundant mineralisation identified at numerous locations throughout a specific stratigraphic sequence; d. the presence of at least two sizeable existing VMS deposits; and e. the extent and intensity of the alteration indicative of a high heat flow system with high fluid to rock ratios. A key feature of AKN’s initial exploration activities across the Koongie Park Project area will be the use of geophysical methods to drive future exploration drilling and assessment. Previous studies have concluded that the 50kms of strike of the project was incompletely explored by appropriate geophysical methods and that it was not unreasonable to expect that further VMS deposits could be discovered along the interpreted strike extent using geophysical methods. In the case of Koongie Park in particular: a. Koongie Park’s mineralisation is highly conductive; b. Koongie Park and other mineralisation are lenses; c. country rock is highly resistive; d. the depth of weathering on sulphides is greater than elsewhere; and e. mineralisation tends to follow a main trend, all indicating that geophysical methods should be ideal for the Company’s initial Koongie Park Project exploration activities. Furthermore, the Geological Survey of Western Australia (GSWA) undertook in 2016 a comprehensive multi-commodity prospectivity analysis of the Halls Creek Orogen. This multi-author study used a GIS (geographic information system) driven, minerals system approach and developed a comprehensvie set of prospectivity maps and images. The Pb-Zn-Cu-Ag prospectivity map generated by the GSWA highlighted the Koongie Park Project area as the most prospective for these metals in the region 5 . (c) Onedin Metallurgy Introduction A focus of AKN’s early efforts to demonstrate a commercially viable metallurgical processing solution at Koongie Park’s Onedin deposit is access to the AmmLeach® processing system. AmmLeach® is a proprietary technology that uses an ammonia-based process for the selective extraction of base metals from amenable ore deposits and concentrates. The most common form of oxide/transitional ore leaching is by the use of sulphuric acid. However, with more complex oxide ores (such as at Koongie Park’s Onedin deposit) one of the primary issues associated with leaching oxide ores can be the excessive use of sulphuric acid by a significant amount of carbonate minerals present in the ore. Not only does this use come at significant additional expense (making the process non- viable) but still may not achieve the levels of mineral recovery that is critical to establish an economically viable operation. Commercial Application Prior pilot-scale and laboratory testwork has established that the AmmLeach® process has the potential to leach complex ores that are otherwise uneconomic to treat (using traditional acid-based leaching technology) and operates at ambient temperature, making it an ideal process for either heap or tank leaching activities. Another potential advantage of the AmmLeach® process is that the use of alkaline-based ammonia leaching (as opposed to the traditional acid leaching) can substantially reduce environmental impacts of the proposed operations. The AmmLeach® process has not yet been utilised in a commercial mining and processing operation. It has however, been the subject of many studies and testwork ranging from pilot-scale to laboratory level analysis, including the following: – Leon, Argentina – the alkaline leaching method was developed for the high carbonate ores at this project and built a pilot plant as part of a project feasibility study. The pilot plant tests established commercial-grade copper recoveries exceeding 70%; and – North-western Queensland project, Mount Isa region – testwork on several oxide ore samples demonstrated successful extraction of copper under a range of AmmLeach® conditions. 5. Prospectivity analysis of the Halls Creek Orogen, northern Western Australia — using a Mineral Systems Approach: Geological Survey of Western Australia, Report 159. This statement is included in accordance with ASIC Corporations (Consent to Statements) Instrument 2016/72 and consent has not been obtained for this statement. 4. The Koongie Park Project continued 50