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 II Executive Summary CSA Global Pty Ltd (CSA Global), an ERM Group company, was requested by AuKing Mining Limited (AuKing) to prepare an Independent Technical Assessment Report (ITAR) for use in a prospectus to support a public offering of shares for AuKing to list with the Australian Securities Exchange (ASX). The funds raised will be used for the purpose of exploration and evaluation of the project areas. AuKing has secured the right to earn up to a 75% interest in mineral assets in the East Kimberley region in the north of Western Australia which are the subject of this report. These mineral assets form the Koongie Park project, located 5 km to 65 km southwest of the town of Halls Creek as illustrated in Figure 1. The Koongie Park tenure package comprises 10 tenements with two mining leases and eight exploration licences, covering 507 km 2 . AuKing has purchased the rights to base metal for these tenements from the holders Anglo Australian Resources NL (AAR). The rights to gold deposits is retained by AAR, who has held tenure at Koongie Park since 1989. The primary mineral assets, the Onedin and Sandiego copper-zinc-gold-silver deposits, lie within the granted mining leases M80/277 and M80/276, which expire in 2031. The Onedin and Sandiego copper-zinc-gold-silver deposits are at an advanced stage of exploration with Mineral Resources defined. In addition, targets have been defined at various other advanced prospects, with numerous other promising zones of surface mineralisation and geophysical anomalism worthy of further exploration and assessment. Indicated and InferredMineral Resources have been estimated for the Sandiego and Onedin deposits in accordance with the JORC Code (2012) as detailed in Table 1 and Table 2. Table 1: Mineral Resource estimates for the Sandiego and Onedin deposits Deposit Zone Cut-off grade Classification Tonnes (Mt) Copper (%) Zinc (%) Gold (g/t) Silver (g/t) Onedin Supergene Cu >0.8% Indicated 0.5 1.4 1.0 0.4 33 Inferred - - - - - Transitional and Primary Cu >0.8% Indicated 0.8 1.6 1.1 0.3 34 Inferred - - - - - Zn Dominant Primary Zn >3% Indicated 2.0 0.5 6.3 0.3 32 Inferred - - - - - Sandiego Supergene Cu >0.8% Indicated 0.4 4.0 2.7 0.3 48 Inferred 0.01 1.0 0.1 0.05 3 Transitional and Primary Cu >0.8% Indicated 1.1 2.8 1.5 0.4 12 Inferred 0.4 1.8 2.0 0.3 5 Zn Dominant Primary Zn >3% Indicated 1.2 0.2 7.0 0.2 26 Inferred 0.4 0.1 6.2 0.1 9 Notes: The Mineral Resources were classified as Indicated by CSA Global in accordance with the JORC Code (2012). Mineral Resources are reported at cut-off grades as mentioned in the table. Tonnage is reported as dry tonnes. Rounding has been applied to appropriately reflect the precision of the estimate. Table 2: Combined Mineral Resource estimates for the Koongie Park project deposits Koongie Park Zone Cut-off grade Classification Tonnes (Mt) Copper (%) Zinc (%) Gold (g/t) Silver (g/t) Onedin + Sandiego Supergene Cu >0.8% Indicated 0.9 2.5 1.7 0.3 39 Inferred 0.0 1.0 0.1 0.1 3 Transitional and Primary Cu >0.8% Indicated 1.9 2.3 1.3 0.4 21 Inferred 0.4 1.8 2.0 0.3 5 Zn Dominant Primary Zn >3% Indicated 3.2 0.4 6.6 0.2 30 Inferred 0.4 0.1 6.2 0.1 9 All zones Various Indicated 6.0 1.3 4.2 0.3 28 Inferred 0.8 1.0 3.8 0.2 7 TOTAL Various Total 6.8 1.3 4.1 0.3 26 6. Independent Technical Report continued 70