Announcement PDF ASX ANNOUNCEMENT 24 January 2025 Shallow high-grade gold expands Eagles Nest • Assay results from a Reverse Circulation (RC) drill program at the Eagles Nest gold deposit expand the resource potential with multiple shallow high-grade intersections, including: o 10m @ 2.24g/t Au from 37m, incl. 2m @ 2.71g/t Au from 38m and 3m @ 3.88g/t Au from 44m (MXENRC059) o 7m @ 2.01g/t Au from 22m, incl. 3m @ 3.21g/t Au from 26m (MXENRC058) o 8m @ 1.73g/t Au from 44m, incl. 4m @ 2.71g/t Au from 44m (MXENRC062) o 1m @ 0.88g/t Au from 73m, 5m @ 1.87g/t Au from 77m, incl. 2m @ 3.05g/t Au from 78m and 1m @ 1.29g/t Au from 85m (MXENRC054) o 4m @ 1.03g/t Au from 74m and 1m @ 0.73g/t Au from 83m (MXENRC056) • Shallow mineralisation in previously untested areas, combined with lateral extensions beyond the existing mineral resource model, highlights the potential for further resource growth. • Preliminary metallurgical results confirm the 42,500oz @ 2.0g/t Au Eagles Nest gold resource is freemilling (non-refractory) suitable for conventional gold processing as found throughout Western Australia’s Eastern Goldfields. • Eagles Nest is located on granted tenements, with excellent access to infrastructure and multiple tolltreatment options within a 60km haulage radius. Maximus Resources Limited (‘Maximus’ or the ‘Company’, ASX:MXR) is pleased to update shareholders on assay results received from a completed Reverse Circulation (RC) drill program at the Eagles Nest gold deposit (Eagles Nest), located ~7km south of the Company’s Wattle Dam Gold Project, in Western Australia Eastern Goldfields Kambalda / Widgiemooltha region. Eleven RC holes (732m) were drilled at Eagles Nest, targeting shallow mineralisation within an optimised pit shell to confirm legacy drilling and target areas with no defined mineral resources (Figure 1). Additionally, three scout RC holes (228m) were completed at anomalies defined by rock chip sampling within the ~3 km-long Eagle's Nest– Groundlark gold corridor. Recent rock chip sampling by Maximus in this area returned gold grades of up to 9.8g/t Au (ASX announcement 15 May 2024). The identification of shallow high-grade mineralisation above the current resource block model at Eagles Nest is a highly encouraging development. These results highlight the potential for an uplift in the resource base, with mineralisation extending closer to the surface, offering the possibility of greatly enhancing the economic viability of the project. The intersections, such as 7m @ 2.0 g/t Au (including 3m @ 3.2 g/t Au) and 10m @ 2.2 g/t Au (including 2m @ 2.7 g/t Au and 3m @ 3.9 g/t Au), reinforce the prospectivity of the deposit and provide strong justification for further exploration. Importantly, the free-milling, shallow nature of the mineralisation positions Eagles Nest as a low-cost development opportunity with the potential for expedited mining scenarios. Join Maximus’ interactive InvestorHub - www.maximusresources.com Maximus Resources Limited - Suite 12, 198 Greenhill Road, Eastwood SA, 5063 ASX:MXR EAGLES NEST GOLD DEPOSIT Eagles Nest (100% MXR) is located ~7km south of the Company’s Wattle Dam Gold Project. The 42,550oz @ 2.0g/t Au Eagles Nest gold resource is associated with structurally controlled contacts between east-dipping maficultramafic lithologies and an adjacent interflow metasedimentary unit. The mineralisation trends north-south (Figure 1), extending over a strike length of over 300m and dips eastward at around 70°, with a true thickness of up to 14m. The mineralisation remains open at depth and along strike, with over 3km of known gold mineralisation and rock chips up to 9.8g/t Au. The latest drilling phase focused on a shallow up-plunge zone of Eagles Nest in a previously untested area (Figure 2), where no mineral resource has been defined. Recent drilling by Maximus confirmed mineralisation in this region (ASX:MXR Announcement 15 May 2024). The current program systematically reduced drill spacings to 20m, with all holes successfully intersecting shallow mineralisation. Key intercepts include: • • • • • 10m @ 2.24g/t Au from 37m, incl. 2m @ 2.71g/t Au from 38m and 3m @ 3.88g/t Au from 44m (MXENRC059) 7m @ 2.01g/t Au from 22m, incl. 3m @ 3.21g/t Au from 26m (MXENRC058) 8m @ 1.73g/t Au from 44m, incl. 4m @ 2.71g/t Au from 44m (MXENRC062) 1m @ 0.88g/t Au from 73m, 5m @ 1.87g/t Au from 77m, incl. 2m @ 3.05g/t Au from 78m and 1m @ 1.29g/t Au from 85m (MXENRC054) 4m @ 1.03g/t Au from 74m and 1m @ 0.73g/t Au from 83m (MXENRC056) Figure 1 – Eagles Nest gold Deposit significant drill results (metres x gram). Join Maximus’ interactive InvestorHub - www.maximusresources.com Maximus Resources Limited - Suite 12, 198 Greenhill Road, Eastwood SA, 5063 ASX:MXR Figure 2 – Eagles Nest gold deposit long section looking west. Figure 3 – Eagles Nest gold deposit – 20m cross-section at 6520640mN. Looking north. Join Maximus’ interactive InvestorHub - www.maximusresources.com Maximus Resources Limited - Suite 12, 198 Greenhill Road, Eastwood SA, 5063 ASX:MXR The latest drill results confirm the continuity and grade of mineralisation above the existing mineral resource block model (Figure 3). Drill hole MXENRC059 intersected 10m @ 2.24g/t Au from 37m, incl. 2m @ 2.71g/t Au from 38m and 3m @ 3.88g/t Au from 44m, while MXENRC058 7m @ 2.01g/t Au from 22m, incl. 3m @ 3.21g/t Au from 26m. Furthermore, drill hole MXENRC054, located 40m along strike to the south of the current resource boundary, intersected 1m @ 0.88g/t Au from 73m, 5m @ 1.87g/t Au from 77m, incl. 2m @ 3.05g/t Au from 78m and 1m @ 1.29g/t Au from 85m. These results confirm that mineralisation remains open to the south, with shallow high-grade gold present (Figure 2). The ~3km-long Eagle's Nest–Groundlark gold corridor remains largely underexplored, with only several wide-spaced shallow RAB drill traverses revealing broad zones of gold mineralisation. Building on this, Maximus targeted anomalies defined by rock chip sampling along this corridor (Figure 4), returning highly encouraging results: • • • MXENRC063: 1m @ 1.12g/t Au from 15m, located ~1km north of the Eagles Nest. GERC001: 2m @ 0.83g/t Au from 58m, located ~1km south of the Eagles Nest. GERC002: 8m @ 0.76g/t Au from 44m, located ~1.3km south of the Eagles Nest. The findings are highly encouraging as they demonstrate an extensive, highly anomalous bedrock gold trend within the Eagles Nest–Groundlark corridor. This supports the potential for significant mineralisation along strike and warrants systematic drilling to test for higher-grade zones and further delineate the extent of the mineralised system. Figure 4 – Location Plan of Maximus’ Eagles Nest–Groundlark gold corridor, including gold in soils and rock chips over regional aeromagnetic with broad-spaced legacy drilling (white). Join Maximus’ interactive InvestorHub - www.maximusresources.com Maximus Resources Limited - Suite 12, 198 Greenhill Road, Eastwood SA, 5063 ASX:MXR This ASX announcement has been approved by Maximus’ Board of Directors. For further information or to ask a question, please visit www.maximusresources.com or contact: T: +61 8 7324 3172 E: info@maximusresources.com W: www.maximusresources.com ABOUT MAXIMUS Maximus Resources Limited (ASX:MXR) is an Australian mining company focused on the exploration and development of high-quality gold, lithium, and nickel projects. The Company holds a diversified portfolio of exploration projects in the world-class Kambalda region of Western Australia, with 335,000 ounces of gold resources across its granted mining tenements. Maximus is actively growing these Resources while also progressing toward gold production. With a commitment to sustainable mining practices and community engagement, Maximus Resources aims to unlock the value of its projects and deliver longterm benefits to its stakeholders. Join Maximus’ interactive InvestorHub - www.maximusresources.com Maximus Resources Limited - Suite 12, 198 Greenhill Road, Eastwood SA, 5063 ASX:MXR Maximus’ group gold resources Spargoville Group Resources by Deposit Location RESOURCE Last update Indicated Inferred Total Tonnes ('000t) Grade (g/t Au) Tonnes ('000t) Grade (g/t Au) Tonnes ('000t) Grade (g/t Au) Ounces Eagles Nest Feb-17 150 1.8 530 2.0 680 2.0 42,550 Larkinville Nov-23 222 1.8 26 1.4 249 1.8 14,040 5B Nov-16 — — 75 3.1 75 3.1 7,450 Hilditch Nov-23 274 1.1 208 1.5 482 1.3 19,500 Wattle Dam Gold Project Jul-23 3,400 1.4 2,000 1.5 5,400 1.4 251,500 4,046 1.4 2,840 1.7 6,886 1.5 335,040 TOTAL Notes: 1. 2. Mineral resources as reported in the ASX announcement dated 19 December 2023. Figures have been rounded and hence may not add up exactly to the given totals. COMPETENT PERSON STATEMENT The information in this report that relates to Data and Exploration Results is based on information compiled and reviewed by Mr Gregor Bennett a Competent Person who is a Member of the Australian Institute of Geoscientists (AIG) and Exploration Manager at Maximus Resources. Mr Bennett has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity which he has undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Bennett consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. PREVIOUSLY REPORTED INFORMATION The information that relates to the gold Mineral Resources for Eagles Nest was first reported by the Company in its announcement on 21 February 2017 titled “Eagles Nest Resource significantly increases”. The information that relates to the Mineral Resources for Larkinville was first reported by the Company in its announcement on 19 December 2023 Titled “Maximus group resources grow to 335,000 oz gold”. The information that relates to the Mineral Resources for 5B was first reported by the Company in its announcement on 22 November 2016 titled “Maiden Resource Estimate for 5B Project at Spargoville in WA”. The information that relates to the Mineral Resources for Hilditch was first reported by the Company in its announcement on 19 December 2023 Titled “Maximus group resources grow to 335,000 oz gold”. The information that relates to the Mineral Resources for the Wattle Dam Gold Project was first reported by the Company in its announcement on 01 August 2023 Titled “Wattle Dam Gold Project Resource increases by 250%”. References in this announcement may have been made to certain ASX announcements, including; exploration results, Mineral Resources, Ore Reserves, production targets and forecast financial information. For full details, refer to said announcement on said date. The Company is not aware of any new information or data that materially affects this information. Other than as specified in this announcement and other mentioned announcements, the Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement(s), and in the case of estimates of Mineral Resources, Ore Reserves, production targets and forecast financial information, that all material assumptions and technical parameters underpinning the estimates in the relevant announcement continue to apply and have not materially changed other than as it relates to the content of this announcement. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original announcement. FORWARD-LOOKING STATEMENTS Certain statements in this report relate to the future, including forward-looking statements relating to the Company’s financial position, strategy and expected operating results. These forward-looking statements involve known and unknown risks, uncertainties, assumptions and other important factors that could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such statements. Actual events or results may differ materially from the events or results expressed or implied in any forward-looking statement and deviations are both normal and to be expected. Other than required by law, neither the Company, their officers nor any other person gives any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements will actually occur. You are cautioned not to place undue reliance on those statements. Join Maximus’ interactive InvestorHub - www.maximusresources.com Maximus Resources Limited - Suite 12, 198 Greenhill Road, Eastwood SA, 5063 ASX:MXR APPENDIX A Table 1. Drill hole collar details from the completed RC drill program. Hole ID Prospect Type Grid System Easting Northing RL Incl Azimuth EOH depth MXENRC052 Eagles Nest RC MGA94_51 357400 6520560 357.972 -60 270 36 MXENRC053 Eagles Nest RC MGA94_51 357420 6520560 358.087 -60 270 54 MXENRC054 Eagles Nest RC MGA94_51 357460 6520560 358.042 -60 270 96 MXENRC055 Eagles Nest RC MGA94_51 357420 6520600 357.16 -60 270 54 MXENRC056 Eagles Nest RC MGA94_51 357460 6520600 357.15 -60 270 100 MXENRC057 Eagles Nest RC MGA94_51 357400 6520620 356.51 -60 270 40 MXENRC058 Eagles Nest RC MGA94_51 357410 6520640 356.1 -60 270 40 MXENRC059 Eagles Nest RC MGA94_51 357430 6520640 356.26 -60 270 60 MXENRC060 Eagles Nest RC MGA94_51 357420 6520660 355.73 -60 270 54 MXENRC061 Eagles Nest RC MGA94_51 357425 6520680 355.377 -60 270 54 MXENRC062 Eagles Nest RC MGA94_51 357445 6520680 355.547 -60 270 72 MXENRC063 Eagles North RC MGA94_51 357468 6521780 343.743 -60 270 72 Table 2. Significant intersections - Assays are reported at 0.5g/t Au lower cut-off with 2m internal dilution. Hole Id From (m) To (m) Interval MXENRC053 MXENRC054 Au g/t Intersection 39 41 73 74 MXENRC054 77 Au g.m 2 0.55 2m @ 0.55g/t Au from 39m 1.10 1 0.88 1m @ 0.88g/t Au from 73m 0.88 82 5 1.87 5m @ 1.87g/t Au from 77m 9.35 Including 78 80 2 3.05 2m @ 3.05g/t Au from 78m 6.10 MXENRC054 85 86 1 1.29 1m @ 1.29g/t Au from 85m 1.29 MXENRC055 42 43 1 0.59 1m @ 0.59g/t Au from 42m 0.59 MXENRC056 74 78 4 1.03 4m @ 1.03g/t Au from 74m 4.12 MXENRC056 83 84 1 0.73 1m @ 0.73g/t Au from 83m 0.73 MXENRC057 19 21 2 0.86 2m @ 0.86g/t Au from 19m 1.72 MXENRC058 22 29 7 2.01 7m @ 2.01g/t Au from 22m 14.07 Including 26 29 3 3.21 3m @ 3.21g/t Au from 26m 9.63 MXENRC059 37 47 10 2.24 10m @ 2.24g/t Au from 37m 22.40 Including 38 40 2 2.71 2m @ 2.71g/t Au from 38m 5.42 Including 44 47 3 3.88 3m @ 3.88g/t Au from 44m 11.64 MXENRC060 19 20 1 0.80 1m @ 0.8g/t Au from 19m 0.80 MXENRC060 27 28 1 0.58 1m @ 0.58g/t Au from 27m 0.58 MXENRC061 24 28 4 0.70 4m @ 0.7g/t Au from 24m 2.80 MXENRC062 44 52 8 1.73 8m @ 1.73g/t Au from 44m 13.84 Including 44 48 4 2.71 4m @ 2.71g/t Au from 44m 10.84 MXENRC063 15 16 1 1.12 1m @ 1.12g/t Au from 15m 1.12 JORC Code, 2012 edition – Table 1 report Section 1 Sampling Techniques and Data (Criteria in this section apply to all succeeding sections.) Criteria JORC Code explanation Sampling techniques • Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, handheld XRF Commentary • • All drilling and sampling were undertaken in an industry-standard manner by previous operators (Ramelius Resources Ltd and Tychean Resources Ltd) and currently by Maximus Resources Limited. RC samples were collected directly into calico sample bags on a 1.0m basis from a cone splitter mounted on Join Maximus’ interactive InvestorHub - www.maximusresources.com Maximus Resources Limited - Suite 12, 198 Greenhill Road, Eastwood SA, 5063 ASX:MXR Criteria JORC Code explanation • • • Drilling techniques Drill sample recovery • • • • Logging • • • Sub-sampling techniques and sample preparation • • • instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. Include reference to measures taken to ensure sample representativity and the appropriate calibration of any measurement tools or systems used. Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases, more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information. Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other types, whether the core is oriented and if so, by what method, etc). Method of recording and assessing core and chip sample recoveries and results assessed. Measures are taken to maximise sample recovery and ensure the representative nature of the samples. Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. The total length and percentage of the relevant intersections logged. If core, whether cut or sawn and whether quarter, half or all core taken. If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. For all sample types, the nature, quality Commentary • • • • • • • • • • • • • the drill rig cyclone. 1.0m sample mass typically averages 3.0kg splits. Duplicate samples were also collected directly into calico sample bags from the drill rig cyclone, at a rate of 1 in every 20. Sampling protocols and QAQC are as per industry best practice procedures. RC samples are appropriate for use in a Resource Estimate. Samples were sent to Intertek in Kalgoorlie, crushed to 10mm, dried and pulverised (total prep) in LM5 units (Some samples > 3kg were split) to produce a sub-sample for 50g fire assay. Legacy drilling and sampling using RC, rotary air blast (RAB) and aircore (AC) techniques. Maximus drilling technique was Reverse Circulation (RC). The RC hole diameter was 140mm face sampling hammer. Hole depths reported range from 36m to 100m. RC drill recoveries were high (>90%). Samples were visually checked for recovery, moisture and contamination and notes were made in the logs. There is no observable relationship between recovery and grade, and therefore no sample bias. Logging information stored in the legacy database, and collected in current drill programs includes lithology, alteration, oxidation state, mineralisation, alteration, structural fabrics, and veining. The logged data comprises both qualitative information (descriptions of various geological features and units) and quantitative data (such as structural orientations, vein and sulphide percentages, magnetic susceptibility) Photographs of the RC sample chip trays are taken to complement the logging data. RC samples were collected on a 1.0m basis from a cone splitter mounted on the drill rig cyclone. The 1.0m sample mass is typically split to 3.0kg on average. The cyclone was blown out and cleaned after each 6 m drill rod to reduce contamination. • Industry standard quality assurance and quality Join Maximus’ interactive InvestorHub - www.maximusresources.com Maximus Resources Limited - Suite 12, 198 Greenhill Road, Eastwood SA, 5063 ASX:MXR Criteria JORC Code explanation • • • and appropriateness of the sample preparation technique. Quality control procedures adopted for all sub-sampling stages to maximise the representativity of samples. Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling. Whether sample sizes are appropriate to the grain size of the material being sampled. Commentary • • • Quality of assay data and laboratory tests • • • Verification of sampling and assaying • • • • The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis include instrument make and model, reading times, calibrations factors applied and their derivation, etc. Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established. • The verification of significant intersections by either independent or alternative company personnel. The use of twinned holes. Documentation of primary data, data entry procedures, data verification, and data storage (physical and electronic) protocols. Discuss any adjustments to assay data. • • • • • • • • • • • Location of data points • Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. • control (QAQC) measures are employed involving certified reference material (CRM) standard, blank and field duplicate samples. Duplicate samples were taken via a second chute on the cone splitter. The duplicate samples were observed to be of comparable size to the primary samples. RC field duplicates were inserted in the sample stream at a rate of 1:25. After receipt of the samples by the independent laboratory (Intertek Kalgoorlie) sample preparation followed industry best practice. Samples were dried, coarse crushing to ~10mm, followed by pulverisation of the entire sample in an LM5 or equivalent pulverising mill to a grind size of 85% passing 75 microns. The sample sizes are considered adequate for the material being sampled. Maximus samples were submitted to Intertek in Kalgoorlie for sample preparation i.e. drying and crushing where necessary. Samples were then transported to Intertek in Perth for analysis. Samples were analysed for Au using a 50g charge lead collection fire assay method with ICP-OES. This methodology is considered appropriate for the mineralisation types at the exploration phase. Field quality control procedures comprised of entering commercially certified reference materials (CRMs), and blanks into the sample run at a frequency of approximately 1 in 20. Field duplicates were collected every 1 in 20 samples. Internal laboratory control procedures involve duplicate assaying of randomly selected assay pulps as well as internal laboratory standards. All of these data are reported to the Company and analysed for consistency and any discrepancies. Significant intersections have been verified for the current program by Maximus employees. No adjustments were made to assay data. Once data is finalised it is transferred to a database. Templates have been set up to facilitate geological logging. Prior to the import into the central database managed by CSA Global, logging data is validated for conformity and overall systematic compliance by the geologist. Geological descriptions were entered directly onto standard logging sheets, using standardized geological codes. Assay results are received from the laboratory in digital format. CSA Global manage Maximus Resource’s database and receive raw assay from Intertek. Maximus Resources utilizes handheld GPS to initially locate drill collars. Subsequently, a qualified surveyor is employed to precisely determine the positions of drill-hole collars. This is achieved through the use of a differential global positioning system (DGPS) or real- Join Maximus’ interactive InvestorHub - www.maximusresources.com Maximus Resources Limited - Suite 12, 198 Greenhill Road, Eastwood SA, 5063 ASX:MXR Criteria JORC Code explanation • • Specification of the grid system used. Quality and adequacy of topographic control. Commentary • • • Data spacing and distribution • • • Orientation of data in relation to geological structure • Sample security • Audits or reviews • • Data spacing for reporting of Exploration Results. Whether the data spacing, and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. Whether sample compositing has been applied. Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. The measures taken to ensure sample security. • The results of any audits or reviews of sampling techniques and data. • • • • • • time kinetics (RTK) GPS. Azimuth and dip directions down the hole are collected using a north-seeking gyro. All the data collected is stored in a grid system known as GDA/MGA94 zone 51. The topography of the project area and mined open pit is accurately defined by DGPS collar pick-ups and historical monthly survey pickups. Angled drilling (-60 towards 270o) tested the interpreted east dipping mineralisation. Drill holes are spaced at approximately 20m intervals along 20m spaced section lines. 1m RC samples through the entire hole were sent to the laboratory for analysis. Drilling is designed to cross the mineralisation as close to perpendicular as possible. Most drill holes are designed at a dip of approximately -60 degrees. No orientation-based sampling bias is known at this time. Sample security is managed by the Company. After preparation in the field samples are packed into polyweave bags and despatched to the laboratory by MXR employees. No audits have yet been completed. SECTION 2 REPORTING OF EXPLORATION RESULTS (Criteria listed in the preceding section also apply to this section.) Criteria JORC Code explanation Mineral tenement and land tenure status • • Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national parks and environmental settings. The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area. Commentary • The Spargoville Project is located on granted leases and licenses consisting of the following: M15/1475, M15/1869, M15/1101, M15/1263, M15/1264, M15/1323, M15/1338, M15/1474, M15/1774, M15/1775, M15/1776, P15/6241 for which Maximus has 100% of all minerals and is included in the KOMIR Joint Venture farm-in agreement. M15/1101, M15/1263, M15/1264, M15/1323, M15/1338, M15/1769, M15/1770, M15/1771, M15/1772, M15/1773 for which Maximus has 100% of all mineral rights, excluding 20% of nickel rights. L15/128, L15/255, M15/395, and M15/703 for which Maximus has 100% of all minerals, except Ni rights. M15/97, M15/99, M15/100, M15/101, M15/102, M15/653, M15/1271 for which Maximus has 100% of Join Maximus’ interactive InvestorHub - www.maximusresources.com Maximus Resources Limited - Suite 12, 198 Greenhill Road, Eastwood SA, 5063 ASX:MXR Criteria JORC Code explanation Commentary gold rights. M 15/1448 for which Maximus has 90% of all minerals. Exploration done by other parties Geology • • Acknowledgment and appraisal of exploration by other parties. Deposit type, geological setting and style of mineralisation. • • • • • M 15/1449 for which Maximus has 75% of all minerals. The database is comprised of drilling carried out when the project was under the ownership of several companies including: Ramelius (2005 to 2011) Tychean Resources (2013 – 2015) Maximus Resources Limited (2015 - present The Spargoville Project is located in the Coolgardie Domain within the Kalgoorlie Terrane of the Archaean Yilgarn Craton. The greenstone stratigraphy of the Kalgoorlie Terrane can be divided into three main units: (1) predominantly mafic to ultramafic units of the Kambalda Sequence, these units include the Lunnon Basalt, Kambalda Komatiite, Devon Consols Basalt, and Paringa Basalt; (2) intermediate to felsic volcaniclastic sequences of the Kalgoorlie Sequence, represented by the Black Flag Group and (3) siliciclastic packages of the late basin sequence known as the Merougil Beds. The Paringa Basalt, or Upper Basalt, is less developed within the Coolgardie Domain, but similar mafic volcanic rocks with comparable chemistry are found in the Wattle Dam area. Slices of the Kambalda Sequence referred to as the Burbanks and Hampton Formations, are believed to represent thrust slices within the Kalgoorlie Sequence. Multiple deformational events have affected the Kalgoorlie Terrane, with at least five major regional deformational eve