Project Overview

Askari Metals was incorporated for the primary purpose of acquiring, exploring and developing high-grade gold and copper-gold projects in New South Wales and Western Australia. The Company has assembled an attractive portfolio of gold and copper-gold exploration/mineral resource development projects in Western Australia and New South Wales.

Figure 1: Location of gold and copper-gold exploration/mineral resource development projects in Western Australia and New South Wales

The Company’s flagship project is the Burracoppin Gold Project, located in Western Australia, which has been the subject of historic exploration including diamond drilling with high-grade assay results including 3m @ 11.9g/t Au from 14m including 1m @ 32.4g/t Au. In addition, there are multiple locations within the Burracoppin Gold Project where small-scale historical production has also occurred.

Some of the significant drilling results include:

• BURC033                 1m @ 10.50g/t Au from 54m
• BURC033                 9m @ 0.56g/t Au from 70m
• BURC034                 1m @ 4.96g/t Au from 72m
• BURC038                 3m @ 3.16g/t Au from 25m
• BURC039                 6m @ 1.65g/t Au from 102m
• BRB001                    4m @ 5.28g/t Au from 38m
• BFC_BRC18            8m @ 2.46g/t Au from 18m

Several of the historic drill holes ended in mineralisation and were not followed up. Additionally, historic drilling was completed to only shallow depths with the mineralisation remaining open in all directions. It is the Company’s view that due to the more advanced nature of this project, the extent of mineralisation already found, the location of the Burracoppin Gold Project to other well established exploration projects and existing mines and the lack of modern and regional exploration in the area, that this project has the greatest potential to host a potentially economic Mineral Resource.

Discovering additional high-grade gold mineralisation at the Burracoppin Gold Project, the delineation of a JORC (2012) Mineral Resource and the commensurate development of the Mineral Resources will be a key driver of future Shareholder value.

The Mt Maguire Gold and Base Metal Project, also located in Western Australia, has been historically explored with extensive gold mineralisation identified in drilling, including 31m @ 0.84g/t Au from 20m including 1m @ 6.74g/t Au from 25m. The Mt Maguire Project is located along strike of Kalamazoo Resources Limited (ASX: KZR) Ashburton Project.

The Springdale Copper-Gold Project, located in New South Wales, is situated in the Lachlan Fold Belt and has been the subject of significant historic production with grades ranging between 8g/t Au and 40g/t Au. Limited drilling has occurred beneath the old workings, with results including 3.9m @ 2.5g/t Au 66m depth down hole. The target at the Springdale Copper-Gold Project is bulk tonnage sedimentary hosted Au associated with broad pyrite (phyllic) alteration zones. The Springdale Copper-Gold Project also offers potential copper-gold porphyry style of mineralisation hosted in the late age Ordovician Volcanics, similar to other projects in the near surrounds.

The Horry Copper Project boasts high grade Cu-Au-Ag gossanous mineralisation up to 60 m long and 2.4 m wide with broader mineralization identified over 7.4 m width and 900 m along shear zone with rock chip results of up to 60% Cu.

The Callawa Copper Project represents a good opportunity, with rock-chips with up to 28.7% Cu at surface, supported by other surface rock-chip results of 9.4%Cu, 7.63% Cu and 2.68% Cu.

The Company has appointed a Board of Directors, management and technical team who possess experience operating in Western Australia and New South Wales, across exploration, mining and strategic transactions, with strong technical, legal, and financial management skills.

The prospective nature of the Company’s Projects across Western Australia and New South Wales warrants further exploration to be undertaken and the Company will draw upon the deep knowledge of the Askari Metals Board to deliver and develop this strategy.