Announcement PDF ASTRAL RESOURCES NL AND ITS CONTROLLED ENTITIES ABN 24 651 541 976 Annual Report For the year ended 30 June 2023 Astral Resources NL Annual Report 30 June 2023 Contents Corporate Directory ............................................................................................................................................................. 3 Review of Operations .......................................................................................................................................................... 4 Directors’ Report ............................................................................................................................................................... 28 Auditor’s Independence Declaration ................................................................................................................................. 45 Independent Auditor’s Report............................................................................................................................................ 46 Consolidated Statement of Profit or Loss and Other Comprehensive Income .................................................................. 50 Consolidated Balance Sheet ............................................................................................................................................. 51 Consolidated Statement of Cash Flows ............................................................................................................................ 52 Consolidated Statement of Changes in Equity .................................................................................................................. 53 Notes to the Consolidated Financial Statements............................................................................................................... 54 Director’s Declaration ........................................................................................................................................................ 82 ASX Additional Information ............................................................................................................................................... 83 Astral Resources NL Annual Report 30 June 2023 2 Corporate Directory This financial report includes the consolidated financial statements and notes of Astral Resources NL (Astral or the Company) and its controlled entities (the Group). The Group’s functional and presentation currency is AUD ($). A description of the Group’s operations and of its principal activities is included in the review of operations and activities in the Directors’ report. The Directors’ Report is not part of the Financial Report. Directors Leigh Warnick - Non-Executive Chairman Marc Ducler - Managing Director Justin Osborne - Non-Executive Director David Varcoe - Non-Executive Director Peter Stern - Non-Executive Director Company Secretary Brendon Morton Registered Office & Principal Place of Business Suite 2, 6 Lyall Street South Perth WA 6151 Telephone: +61 8 9382 8822 E-mail: info@astralresources.com.au Website: www.astralresources.com.au Share Registry Automic Registry Services Level 5, 191 St Georges Terrace Perth WA 6000 Telephone: +1300 288 664 Auditors BDO Audit (WA) Pty Ltd Level 9, Mia Yellagonga Tower 2 5 Spring Street Perth WA 6000 Bankers National Australia Bank 197 St George’s Terrace Perth WA 6000 Solicitors Thomson Geer Level 27, Exchange Tower 2 The Esplanade Perth WA 6000 Stock Exchange Australian Securities Exchange Limited Level 40, Central Park 152-158 St George’s Terrace Perth WA 6000 ASX Code: AAR Astral Resources NL Annual Report 30 June 2023 3 Review of Operations The principal activity of Astral Resources NL (Astral or the Company) during the financial year was progressing the Company’s 100% owned Mandilla Gold Project (Mandilla) and recommencing exploration on the Feysville Gold Project (Feysville). Mandilla remained the focus of significant exploration and resource definition effort during the financial year, with more than 32 kilometres of drilling completed (refer to Figure 1). This included 7,253 metres of diamond drilling (DD), 22,722 metres of reverse circulation (RC) drilling and 2,335 metres of air-core (AC) drilling. The significant investment in exploration and resource definition drilling culminated in Astral issuing two Mineral Resource Estimate (MRE) upgrades during and subsequent to the end of the financial year, including the following:   On 6 December 2022, the Company reported an updated JORC 2012 MRE for Mandilla of 30 million tonnes at 1.1g/t Au for 1.03 million ounces of contained gold (December 2022 MRE). This represented a 32% increase in contained ounces compared to the previous MRE, reported January 2022. On 20 July 2023 (subsequent to the end of the financial year), the Company announced an updated JORC 2012 MRE of 37 million tonnes at 1.1g/t Au for 1.27 million ounces of contained gold (July 2023 MRE). This represented an increase of 22% in contained ounces compared to the December 2022 MRE and a combined increase since January 2022 of 62% in contained ounces for the project. The July 2023 MRE is included in this Review of Operations. In August 2023, subsequent to the end of the financial year, a 5,000 metre RC drilling program commenced at Mandilla. During the year, the Company undertook exploration drilling activities at Feysville for the first time in over three years. A total of 3,834 metres of drilling were completed at Feysville during the year, comprising 2,446 metres of RC drilling and 1,395 metres of DD (refer to Figure 1). An additional 3,202 metre RC drilling program was completed during August 2023 (subsequent to the end of the financial year). Figure 1 – FY23 Drilling (by month and project) MANDILLA GOLD PROJECT Astral – 100% Mandilla is situated in the northern Widgiemooltha greenstone belt, 70 kilometres south of the significant mining centre of Kalgoorlie, Western Australia. The location of Mandilla in relation to Kalgoorlie and other nearby towns and gold projects is set out in Figure 2. Astral Resources NL Annual Report 30 June 2023 4 Figure 2 – Project Location Map. The Mandilla Gold Project includes the Theia, Iris, Eos and Hestia deposits. Gold mineralisation at Theia and Iris is comprised of structurally controlled quartz vein arrays and hydrothermal alteration close to the western margin of the Emu Rocks Granite and locally in contact with sediments of the Spargoville Group (Figure 2). Significant NW to WNW-trending structures along the western flank of the project are interpreted from aeromagnetic data to cut through the granitic intrusion. These structures are considered important in localising gold mineralisation at Theia, which now has a mineralised footprint extending over a strike length of more than 1.5 kilometres. A second sub-parallel structure hosts gold mineralisation at the Iris deposit. The mineralised footprint at Iris extends over a strike length of approximately 700 metres, combining with Theia to form a mineralised zone extending over a strike length of more than 2.2 kilometres. At Eos, located further to the south-east, a relatively shallow high-grade mineralised palaeochannel deposit has been identified with fresh rock mineralisation intercepted below the palaeochannel within the granitoid. Mineralisation delineated over approximately 800 metres of strike at the Hestia deposit, located approximately 500 metres west of Theia, is associated with a shear zone, adjacent to a mafic/sediment contact, interpreted to be part of the major north-south trending group of thrust faults known as the Spargoville Shear Corridor. Locally, the Spargoville Shear Corridor hosts the historically mined Wattle Dam gold mine (266koz at 10.6g/t Au) and, further to the north, the Ghost Crab/Mt Marion mine (>1Moz Au). The mineralisation at Hestia, which is present in a different geological setting to the primary mineralisation at Theia and Iris, remains open both down-dip and along strike. Astral Resources NL Annual Report 30 June 2023 5 Metallurgical testing undertaken on the Theia Deposit has demonstrated high gravity recoverable gold, fast leach kinetics and exceptional overall gold recoveries with low reagent consumptions and coarse grinding. Mandilla is covered by existing mining leases which are not subject to any royalties other than the standard WA Government gold royalty. Image 1 – RC Drilling at Mandilla Image 2 – Aerial View of Mandilla (Aug-23) Astral Resources NL Annual Report 30 June 2023 6 Figure 3: Mandilla Local Area Geology (including significant recent intercepts). Astral Resources NL Annual Report 30 June 2023 7 Mandilla Scoping Study On 21 September 2023 (subsequent to the end of the financial year), the Company announced the results of a positive Scoping Study for Mandilla (Study). Mandilla is one of the largest undeveloped free-milling open pit gold development projects in the Kalgoorlie region. The Study was based on a standalone development, including a 2.5Mtpa CIL processing plant and associated infrastructure, identified as the optimum commercialisation strategy for Mandilla. Highlights of the Study included the following:      Life-of-mine (LoM) payable metal production target of 845koz at an All-In Sustaining Cost (AISC) of approximately $1,648 per ounce. Projected average annual gold production target of approximately 100kozpa at an average feed grade of 1.30g/t Au over the first 7.4-year period, reducing to a projected average gold production target of approximately 41kozpa at an average feed grade of 0.50g/t Au when treating lower grade stockpiles over the remaining 3.4-year period. Total estimated pre-production capital of approximately $191 million, inclusive of: o Processing plant & non-process infrastructure CAPEX ($123 million); and o Pre-production mining and general & administrative costs ($68 million). Study generates compelling financials for Mandilla, using a A$2,750/oz gold price: o Free cash flow – $740 million o Net present value (8%) – $442 million o Internal rate of return – 73% o Payback period – 0.75 years o All-in sustaining costs – $1,648 per ounce Study based on the Mineral Resources defined at Mandilla only. Further upside from ongoing exploration at Mandilla targeting resource growth as well as the inclusion of the nearby Feysville Gold Project as a potential future satellite ore source. Mineral Resource Estimate (MRE) On 20 July 2023 (subsequent to the end of the financial year), the Company announced an updated Mandilla JORC 2012 Mineral Resource Estimate (MRE) of 37 million tonnes at 1.1g/t Au for 1.27 million ounces of contained gold, encompassing the cornerstone Theia Deposit and the Iris, Eos and Hestia Deposits (refer to Table 1, Table 2, and Table 3). The MRE was prepared by independent consultant Cube Consulting in accordance with the JORC Code (2012 Edition). This represented the fifth MRE published for Mandilla within 26 months and added 231koz of contained gold to the previous MRE at an exploration cost of approximately $18 per new ounce discovered and a total increase of 62% of 486koz over the reporting period. This remains a low discovery cost in industry terms despite a substantial proportion of the drilling being focussed on in-fill drilling to increase resource confidence, as well as extensional drilling to increase the resource. The significant growth achieved by each of the MRE updates is displayed in Figure 4 below. Importantly, Figure 4 demonstrates Astral’s ability to continue to grow its Mineral Resources whilst substantially increasing the geological confidence. Astral Resources NL Annual Report 30 June 2023 8 Mandilla Mineral Resources Ounces - Growth 1400 Gold Ounces ('000) 1200 1000 571 800 624 600 400 200 0 341.5 453 262.6 694 237.8 May-21 324.1 331 Aug-21 Jan-22 410 Dec-23 Jul-23 Mandilla MRE Reported Indicated Inferred Gold ounces Figure 4 – Mandilla MRE Growth The MRE was estimated using a 0.39g/t Au lower cut-off and is constrained within pit shells derived using a gold price of AUD$2,500 per ounce (consistent with the previous MRE). The MRE is summarised in Table 1 below, a detailed breakdown by deposit is provided in Table 2 and a grade and tonnage sensitivity by cut-off grade is provided in Table 3. Table 1 – Mandilla Mineral Resource Estimate (July 2023) Mineral Resource Estimate for the Mandilla Gold Project (Cut-Off Grade >0.39g/t Au) Classification Tonnes (Mt) Grade (g/t Au) Au Metal (koz) Indicated 21 1.1 694 Inferred 17 1.1 571 Total 37 1.1 1,265 The preceding statement of Mineral Resources conforms to the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code) 2012 Edition. All tonnages reported are dry metric tonnes. Minor discrepancies may occur due to rounding to appropriate significant figures. Astral Resources NL Annual Report 30 June 2023 9 Table 2 – Mandilla MRE (July 2023) by Source Deposit Classification Indicated Inferred Total Indicated Inferred Total Indicated Inferred Total Indicated Inferred Total Tonnes (Mt) Grade (g/t Au) Au Metal (koz) 17 1.1 573 Theia 12 1.1 447 29 1.1 1,021 0.4 0.8 11 Iris 4.0 0.8 103 4.4 0.8 115 0.6 1.6 29 Eos 0.5 1.3 19 1.0 1.5 48 2.7 0.9 78 Hestia 0.2 0.8 4 2.9 0.9 82 Total 37 1.1 1,265 All tonnages reported are dry metric tonnes. Minor discrepancies may occur due to rounding to appropriate significant figures. Table 3 – Mandilla MRE (July 2023) by Cut-off Grade Cut-off grade (g/t Au) Tonnes (Mt) Grade (g/t) Au Metal (koz) 0.30 43 1.0 1,332 0.35 40 1.0 1,298 0.39 37 1.1 1,265 0.40 37 1.1 1,258 0.45 34 1.1 1,215 0.50 31 1.2 1,171 All tonnages reported are dry metric tonnes. Minor discrepancies may occur due to rounding to appropriate significant figures. The locations of the optimised pit shells based on a gold price of AUD$2,500 per ounce are set out in plan view in Figure 5 below. The sections referenced in this report are also annotated on this plan. Astral Resources NL Annual Report 30 June 2023 10 Figure 5 – July 2023 MRE optimised pit shell and section locations on local area geology. Astral Resources NL Annual Report 30 June 2023 11 Theia Deposit Theia is the cornerstone deposit at Mandilla, representing approximately 81% of the reported MRE. The total MRE at Theia is 29Mt at 1.1g/t Au for 1.02Moz of contained gold. Section 1, as illustrated in Figure 6 below, shows a cross-section of the Theia deposit as previously reported on 6 December 2022. The cross-section also shows the December 2022 optimised pit shell, the current July 2023 optimised pit shell and the new July 2023 MRE model. Note that the cross-section illustrates the additional Mineral Resources at depth which has enabled the removal of the “saddle” at the base of the pit (December 2022 optimised pit outline) and driven the July 2023 pit optimisation deeper. The identification of further mineralisation at depth is only limited by the current depth of drilling on this section. Figure 6 – Theia cross-section view (refer Figure 5 for section location). Section 2, as illustrated in Figure 7 below, shows a longitudinal projection of Theia as previously reported on 6 December 2022. The additional Mineral Resources on this section are best highlighted by the increased depth of the July 2023 pit optimisation as compared to that of December 2022. Astral Resources NL Annual Report 30 June 2023 12 Figure 7 – Theia longitudinal projection view (refer Figure 3 for section location). Drilling to date at Theia has demonstrated the potential for in-fill drilling within the constrained pit shell to contribute to resource growth. Drilling perpendicular to the interpreted maxima stress field has assisted with the growth of the MRE at Theia, providing multiple successful targets with further targets at depth expected to be tested as part of the upcoming drilling program. Subsequent to the end of the financial year, the Company completed a diamond core re-logging exercise to add further detail to structural and veining information already collected. A structural review is in progress and due to be completed in late September will likely lead to additional DD targets at depth and potentially advance the understanding of the high-grade trends intersected at depth during the most recent drilling program. Importantly, a significant number of the deeper DD holes have ended in mineralisation, suggesting Theia remains open – and highly prospective – at depth. Section 3, as illustrated in Figure 8 below, shows a longitudinal projection of the south-east of Theia. The recent RC infill drilling program delineated additional gold mineralisation at depth in this area. Following completion of the structural review, the potential to test for faulted offset gold mineralisation at depth will be evaluated. Astral Resources NL Annual Report 30 June 2023 13 Figure 8 – Theia south-east longitudinal projection view (refer Figure 5 for section location). Iris Deposit The July 2023 MRE at Iris was largely unchanged from that reported previously at 4.4Mt at 0.8g/t Au for 115koz of contained gold. Eos Deposit At Eos, an additional 13 RC holes for 1,946 metres were included in the July 2023 MRE as compared to the December 2022 MRE. The RC program tested for fresh rock mineralisation to the south-east of the Eos paleochannel, coincident with a previously identified demagnetised zone within the Emu Rocks Granite. The paleochannel deposit MRE remained largely unchanged at 0.8Mt at 1.6g/t Au for 41koz of contained gold, as no additional drilling was completed within the paleochannel deposit. The fresh rock zone of mineralisation identified with the RC program completed during the first half of calendar year 2023, returned a maiden Inferred MRE of 0.2Mt at 1.0g/t Au for 7koz of contained gold. This modest fresh rock Mineral Resource requires further drilling to determine both its orientation and potential extent to the north and south. Section 4, as illustrated in Figure 9 below, shows a cross-section view of both the Eos paleochannel and the new fresh rock MRE. Astral Resources NL Annual Report 30 June 2023 14 Figure 9 – Eos cross-section view (refer Figure 5 for section location). Hestia Deposit The total July 2023 MRE at Hestia is 2.9Mt at 0.9g/t Au for 82koz of contained gold. This represents a 583% increase in resources and a 12% increase in grade as compared to the December 2022 MRE. Pleasingly, 95% of the MRE at Hestia is in the higher confidence Indicated category. Section 5, as illustrated in Figure 10 below, shows a longitudinal projection of Hestia as previously reported on 6 December 2022. The successful in-fill drill program is best demonstrated by the significant growth in the July 2023 optimised pit outline compared to the maiden December 2022 MRE optimised pit outline. Figure 10 – Hestia long projection view (refer Figure 5 for section location) Astral Resources NL Annual Report 30 June 2023 15 EXPLORATION & RESULTS Summary The Company completed a significant amount of exploration and resource definition drilling at Mandilla during the financial year, with more than 32 kilometres of drilling completed. This included 7,253 metres of DD, 22,722 metres of RC drilling and 2,335 metres of AC drilling. The drill programs focused on the Theia, Iris, Eos and Hestia deposits. During the financial year, the Company reported assay results for a total of 49,582 metres of drilling at Mandilla, which included:    6,170 metres of DD; 27,543 metres of RC drilling; and 15,869 metres of AC drilling. The relevant ASX announcements relating to Mandilla exploration results were issued on 5 July 2022, 13 July 2022, 10 August 2022, 23 August 2022, 21 September 2022, 13 October 2022, 3 November 2022, 30 November 2022, 15 March 2023, 12 April 2023, 24 April 2023, 16 May 2023 and 14 June 2023. These ASX announcements can be accessed via the ASX website (www.asx.com.au) or via the Company’s website (www.astralresources.com.au). The significant investment in exploration and resource definition drilling at Mandilla continues to highlight the confidence the Company has in the development potential of Mandilla. Theia Deposit During the financial year, the Company reported assay results for a total of 15,423 metres of drilling at Theia, which included:   5,667 metres of DD; and 9,757 metres of RC drilling. Theia Diamond Drilling Best DD intercepts reported during the financial year at the Theia Deposit included:     Hole MDRCD660 intersected significant gold mineralisation with over 250-gram metres of gold recorded across several intersections. Best assay results included: o 38 metres at 0.62g/t Au from 73 metres; o 6 metres at 3.18g/t Au from 156 metres; o 38.6 metres at 2.10g/t Au from 189 metres including 0.4 metres at 71.70g/t Au from 190.2 metres, 0.5 metres at 30.33g/t Au from 222.8 metres and 0.5 metres at 46.57g/t Au from 227.1 metres; o 11.4 metres at 0.78g/t Au from 245 metres; o 25.3 metres at 1.12g/t Au from 287 metres including 1 metre at 19.69g/t Au from 299 metres; and o 44.3 metres at 1.89g/t Au from 392 metres including 0.5 metres at 133.25g/t Au from 420.85 metres. Hole MDRCD675 intersected significant gold mineralisation with 187-gram metres of gold recorded across several intersections. Best assay results included: o 13 metres at 2.95g/t Au from 201 metres; o 23.8 metres at 2.41g/t Au from 257.3 metres including 0.3 metres at 155.35g/t Au from 257.3 metres; and o 29 metres at 2.61g/t Au from 296.6 metres including 0.3 metres at 178.4g/t Au from 296.6 metres and 1.0 metre at 12.92g/t Au from 320.4 metres. Hole MDRCD664 intersected significant gold mineralisation with 77-gram metres of gold recorded across several intersections. Best assay results included: o 1 metre at 11.86 g/t Au from 153.15 metres; o 52 metres at 0.75g/t Au from 323 metres; and o 9.6 metres at 2.33g/t Au from 390.2 metres including 0.5 metres at 33.5g/t Au from 395.5 metres. Hole MDRCD734 intersected significant gold mineralisation with 201-gram metres of gold recorded across several intersections. Best assay results included: o 14 metres at 2.65g/t Au from 215 metres including 0.3 metres at 100.9g/t Au from 223 metres and 0.35 metres at 11g/t Au from 225.35 metres; o 21 metres at 1.37g/t Au from 275 metres including 0.7 metres at 17.97g/t Au from 278.5 metres and 0.3 metres at 17.02g/t Au from 283 metres; o 11.7 metres at 1.02g/t Au from 315 metres; and o 24 metres at 2.60g/t Au from 339 metres including 0.4 metres at 125.15g/t Au from 358.2 metres. Astral Resources NL Annual Report 30 June 2023 16          Hole MDRCD735 intersected significant gold mineralisation with 225-gram metres of gold recorded across several intersections. Best assay results included: o 12 metres at 1.84g/t Au from 193 metres including 1.05 metres at 19.04g/t Au from 212.9 metres; o 8.9 metres at 6.27g/t Au from 212.45 metres including 0.3 metres at 176.1g/t Au from 212.9 metres; o 57.6 metres at 0.70g/t Au from 228.9 metres including 0.55 metres at 19.7g/t Au from 277.85 metres; o 20.6 metres at 0.93g/t Au from 337.9 metres including 0.5 metres at 26.21g/t Au from 349 metres; and o 57 metres at 1.36g/t Au from 367 metres including 0.35 metres at 136.0g/t Au from 418.8 metres. 41.6 metres at 1.53g/t Au from 52.2 metres, including 0.8 metres at 11.75g/t Au from 59.2 metres and 0.3 metres at 56.72g/t Au from 69.1 metres in MDRCD651. 26.0 metres at 1.83g/t Au from 233.0 metres, including 0.3 metres at 94.55g/t Au from 239.1 metres in MDRCD651. 19.6 metres at 1.08g/t Au from 216.4 metres, including 0.3 metres at 10.75g/t Au from 224.7 metres and 0.3 metres at 13.15g/t Au from 234.0 metres in MDRCD642. 19 metres at 1.54g/t Au from 246.5 metres, including 0.35 metres at 15.76g/t Au from 222.55 metres and 0.3 metres at 67.38g/t Au from 251.3 metres in MDRCD483. 16.01 metres at 2.12g/t Au from 157.29 metres, 25.18 metres at 2.02g/t Au from 254.62 metres, 16.66 metres at 1.38g/t Au from 311.34 metres, 41.2 metres at 1.71g/t Au from 339.3 metres and 16.76 metres at 2.64g/t Au from 434.1 metres in MDRCD644. 10.0 metres at 2.56g/t Au from 115.0 metres, including 0.8 metres at 22.57/t Au from 119.9 metres in MDRCD649. 4 metres at 3.33g/t Au from 246 metres in MDRCD681. 2 metres at 16.38g/t Au from 86 metres (in a previously reported RC pre-collar) and 7 metres at 1.85g/t Au from 94 metres in MDRCD661. Theia RC Drilling Best RC drill intercepts reported during the financial year at the Theia Deposit included:              61 metres at 1.54g/t Au from 79 metres including 2 metres at 13.22g/t Au from 107 metres and 21 metres at 0.75g/t Au from 51 metres in MDRC730. 18 metres at 1.86g/t Au from 100 metres and 3 metres at 7.53g/t Au from 149 metres including 1 metre at 21.93g/t Au from 150 metres in MDRC755. 27 metres at 2.00g/t Au from 45 metres MDRC639. 12 metres at 2.29g/t Au from 20 metres and 20 metres at 0.86g/t Au from 114 metres in MDRC757. 8 metres at 1.78g/t Au from 24 metres in MDRC752. 7 metres at 2.84g/t Au from 17 metres including 1 metre at 15.63g/t Au from 23 metres and 3 metres at 2.94g/t Au from 88 metres and 3 metres at 1.75g/t Au from 138 metres in MDRC725. 4 metres at 24.57g/t Au from 126 metres and 21 metres at 0.76g/t Au from 184 metres in MDRC640. 4 metres at 4.26g/t Au from 68 metres including 1 metre at 15.55g/t Au from 68 metres in MDRC724. 2 metres at 4.85g/t Au from 84 metres in MDRC720. 2 metres at 6.99g/t Au from 48 metres including 1 metre at 11.23g/t Au from 48 metres in MDRC762. 2 metres at 3.53g/t Au from 93 metres and 22 metres at 0.73/t Au from 102 metres in MDRC764. 2 metres at 5.62g/t Au from 19 metres including 1 metre at 10.06g/t Au from 19 metres in MDRC769. 1 metre at 10.17g/t Au from 100 metres in MDRC744. The July 2023 MRE, as discussed above, included the results of all of the reported assay results. Hestia Deposit During the financial year, the Company reported assay results for a total of 14,697 metres of drilling at Hestia, which included:   502 metres of DD; and 14,195 metres of RC drilling. Hestia Diamond Drilling Best diamond drill intercepts reported during the financial year at the Hestia Deposit included:    13 metres at 2.13g/t Au from 161 metres including 1.1 metres at 16.96g/t Au from 166.85 metres in MDRCD668. 20.70 metres at 1.13g/t Au from 80.3 metres, including 0.7 metres at 21.91g/t Au from 81.7 metres and, further down-hole, 13.2 metres at 0.81g/t Au from 111.0 metres in MDRCD653. 12.85 metres at 1.24g/t Au from 87.0 metres, including 0.3 metres at 28.8g/t Au from 90.3 metres and 0.3 metres at 10.93g/t Au from 99.55 metres and, further down-hole, 11.35 metres at 1.42g/t Au from 118.90 metres in MDRCD654. Astral Resources NL Annual Report 30 June 2023 17 Hestia RC Drilling Best RC drill intercepts reported during the financial year at the Hestia Deposit included:                    11 metres at 2.00g/t Au from 90 metres in MDRC606. 10 metres at 6.35g/t Au from 133 metres in MDRC698. 9 metres at 3.21g/t Au from 192 metres in MDRC688. 9 metres at 2.11g/t Au from 44 metres in MDRC689. 8 metres at 3.61g/t Au from 95 metres and 5 metres at 1.97g/t Au from 62 metres in MDRC690. 6 metres at 7.07g/t Au from 107 metres in MDRC616. 6 metres at 6.07g/t Au from 85 metres and 6 metres at 1.85g/t Au from 103 metres in MDRC694. 6 metres at 3.02g/t Au from 97 metres in MDRC672. 5 metres at 2.31g/t Au from 117 metres in MDRC713. 4 metres at 6.00g/t Au from 110 metres in MDRC708. 4 metres at 2.64g/t Au from 129 metres in MDRC687. 3 metres at 5.20g/t Au from 176 metres and 10 metres at 0.61g/t Au from 155 metres in MDRC676. 3 metres at 2.48g/t Au from 91 metres in MDRC686. 3 metres at 2.20g/t Au from 115 metres in MDRC702. 2 metres at 5.47g/t Au from 52 metres in MDRC693. 2 metres at 4.56g/t Au from 162 metres in MDRC714. 1 metre at 26.15g/t Au from 13 metres and 12 metres at 1.07g/t Au from 52 metres in MDRC587. 1 metre at 7.14g/t Au from 123 metres in MDRC680. 1 metre at 6.41g/t Au from 73 metres in MDRC679. The July 2023 MRE as discussed above, included the results of all of the reported assay results. Eos Deposit During the financial year, the Company reported assay results for a total of 17,815 metres of drilling at Eos, which included:   1,946 metres of RC drilling; and 15,869 metres of AC drilling. Eos RC Drilling Best RC drill intercepts reported during the financial year at the Eos Deposit included:    2 metres at 4.65g/t Au from 42 metres and 6 metres at 0.90g/t Au from 130 metres in MDRC778. 34 metres at 0.90g/t Au from 82 metres in MDRC779. 8 metres at 0.80g/t Au from 86 metres in MDRC780. Eos AC Drilling Best AC drill intercepts reported during the financial year at the Eos Deposit included:             1 metre at 17.20g/t Au from 52 metres in MDAC513. 2 metres at 13.38g/t Au from 51 metres in MDAC501. 1 metre at 12.17g/t Au from 51 metres in MDAC551. 1 metre at 11.93g/t Au from 49 metres MDAC444. 3 metres at 11.85g/t Au from 52 metres in MDAC540. 1 metre at 8.69g/t Au from 51 metres in MDAC587. 2 metres at 8.09g/t Au from 48 metres in MDAC429. 2 metres at 7.11g/t Au from 51 metres in MDAC443. 3 metres at 6.79g/t Au from 52 metres in MDAC457. 4 metres at 6.31g/t Au from 54 metres MDAC442. 2 metres at 6.05g/t Au from 51 metres in MDAC483. 1 metre at 5.58g/t Au from 47 metres in MDAC550. The July 2023 MRE as discussed above, included the results of all of the reported assay results for the Eos Deposit. Astral Resources NL Annual Report 30 June 2023 18 Iris Deposit During the financial year, the Company reported assay results for a total of 1,708 metres of RC drilling at Iris. From the limited drilling at the Iris Deposit during the financial year the best reported result was 20 metres at 1.42g/t Au from 174 metres in MDRC624, a RC