ASX Announcement 20 April 2023 ASX: FG1 Quarterly Activities Report 30 September 2024 Highlights Exploration – Golden Ridge Project, NE Tasmania • Multiple gold-bearing quartz veins successfully intercepted in diamond drilling at the new Trafalgar North vein zone discovery. Two drill holes completed at Trafalgar North, with best mineralised intercepts including: TFDD019 o 4.8m @ 4.0g/t Au from 165.6m; including:  0.4m @ 17.9g/t Au from 166.9m, and  0.4m @ 24.0g/t Au from 170.0m o 0.3m @ 25.1g/t Au from 440.5m TFDD020 o 3.05m @ 4.9g/t Au from 53.1m including  0.35m @ 40.0g/t Au o 2.7m @ 4.1g/t Au from 115.4m, including  0.35m @ 26.6g/t Au • Gold mineralisation at Trafalgar North confirmed from surface to over 150m depth and open in all directions • New in-situ gold vein system discovered during surface sampling and trenching programs at the Grenadier Prospect • Flynn Gold to receive up to $140,000 to co-fund drilling under the Tasmanian Government’s Exploration Drilling Grant Initiative (EDGI) Exploration – Other Projects, NE Tasmania • New Exploration Licence Application submitted over 40km2 of highly prospective exploration tenure surrounding the historic Beaconsfield Gold Mine • Exploration landholding in NE Tasmania reduced by 457km2 (30%) to approximately 1,020km2, reducing holding costs significantly Corporate • The Company’s cash position at 30 September 2024 was $1.83 million • An At-The-Market Subscription Agreement signed with Dolphin Corporate Investments, providing Flynn with up to $2,000,000 of standby equity capital over the next three years JOIN FLYNN GOLD’S INTERACTIVE INVESTOR HUB to receive announcements and updates and to interact with the Company by asking questions or making comments which our team will respond to where possible Page 2 of 16 | ABN 82 644 122 216 | ASX: FG1 Level 4, 96-100 Albert Road, South Melbourne, Victoria, 3205 • For further information or to post questions go to the Flynn Gold Investor Hub at https://investorhub.flynngold.com.au/link/qy1Aly Flynn Gold Limited (ASX: FG1, “Flynn” or “the Company”) is pleased to report on its activities for the quarter ending 30 September 2024. Flynn is an Australian mineral exploration company with a portfolio of 100% owned exploration projects in Tasmania and Western Australia (see Figure 1). The Company has eight 100% owned tenements in north-east Tasmania which are highly prospective for gold as well as tin/tungsten. The Company also holds the Henty zinc-lead-silver project on Tasmania’s mineral-rich west coast and the Firetower gold and battery metals project located in north-western Tasmania. Flynn has also established a portfolio of gold-lithium exploration assets in the Pilbara and Yilgarn regions of Western Australia. In addition, Flynn holds a binding Option Agreement to acquire two exploration licences at Parker Dome (Forrestania), Western Australia. Figure 1 – Location Plan of Flynn Gold Projects. Page 3 of 16 | ABN 82 644 122 216 | ASX: FG1 Level 4, 96-100 Albert Road, South Melbourne, Victoria, 3205 Exploration –Tasmania During the September 2024 Quarter, the Company’s exploration activities in Tasmania were focused on the Golden Ridge Project in north-east Tasmania (see Figure 2). Figure 2 – Location of Flynn’s NE Tasmania projects, including the Golden Ridge Project Page 4 of 16 | ABN 82 644 122 216 | ASX: FG1 Level 4, 96-100 Albert Road, South Melbourne, Victoria, 3205 Golden Ridge Project – NE Tasmania The Golden Ridge Project consists of multiple prospects and historical gold workings along a nine-kilometre-long intrusive granodiorite-hornfels metasediment contact zone where the Company is actively exploring to identify and test multiple exploration targets, with the aim of making further discoveries (Figure 3). Figure 3 – Flynn Gold’s Golden Ridge Project, NE Tasmania, showing prospect areas. Trafalgar Prospect – Phase 3 Drilling Phase 3 drilling commenced at the Trafalgar prospect in mid-April 2024. The initially planned 1,500m diamond drill program comprised of in-fill and extensional drilling targeting down-dip and along-strike extensions to previously drilled high-grade gold intercepts 1. 1 See FG1 ASX Announcement dated 18 April 2024 for full details. Page 5 of 16 | ABN 82 644 122 216 | ASX: FG1 Level 4, 96-100 Albert Road, South Melbourne, Victoria, 3205 During June 2024, a new zone of gold-mineralisation was discovered in surface trenches approximately 250m north of the historic Trafalgar mine. This new area at Trafalgar North had the potential to significantly increase the mineralised footprint of the Trafalgar prospect, and therefore became the focus of drilling later in the campaign 2. Two diamond holes for 623m (TFDD019 and TFDD020) were completed at Trafalgar North during the quarter, testing beneath and along strike of mineralisation discovered in the trenches (see Figure 4) 3. TFDD019 This hole was primarily designed to test depth extensions of the gold-bearing quartz vein zone at approximately 100 metres beneath surface. Multiple zones with visible signs of mineralisation were successfully intersected in the target area (see Figure 5). Significant intercepts for TFDD019 included:   4.8m @ 4.0g/t Au from 165.6m; including o 0.4m @ 17.9g/t Au from 166.9m; and o 0.4m @ 24.0g/t Au from 170.0m 0.3m @ 25.1g/t Au from 440.5m TFDD019 also tested the up-dip position of veins intersected in TFDD002 (4.3m @ 4.3g/t Au from 594.7m) 4 with a high-grade vein (0.3m @ 25.1g/t Au) intersected at 440.5m depth. This vein is interpreted to be a continuation of the veins intersected 80m below in TFDD002. TFDD020 This step-out hole was designed to test the along-strike continuation of the mineralised zone 50m to the west of TFDD019 (see Figure 4). Sulphide-rich quartz-arsenopyrite-pyrrhotite veining was intersected at 53.4m depth (0.35m @ 40.0g/t Au) and quartz-arsenopyrite-galena veining was intersected at a depth of 115.4m down-hole (0.35m @ 26.6g/t Au) (see Figure 5). Significant intercepts for TFDD020 included:  3.05m @ 4.9g/t Au from 53.1m including o  0.35m @ 40.0g/t Au 2.7m @ 4.1g/t Au from 115.4m, including o 0.35m @ 26.6g/t Au The results confirm strike continuity over 50 metres from TFDD019 with gold mineralisation open in all directions. See FG1 ASX Announcement dated 19 July 2024 for full details. See FG1 ASX Announcement dated 16 September 2024 for full details. 4 See FG1 ASX Announcement dated 21 September 2022 for full details. 2 3 Page 6 of 16 | ABN 82 644 122 216 | ASX: FG1 Level 4, 96-100 Albert Road, South Melbourne, Victoria, 3205 Figure 4 – Trafalgar Prospect Drill-Hole Location Plan. Page 7 of 16 | ABN 82 644 122 216 | ASX: FG1 Level 4, 96-100 Albert Road, South Melbourne, Victoria, 3205 Figure 5 – TFDD019/TFDD020 Cross-Section. Golden Ridge Soil Sampling To date over 870 Ultrafine+ soil samples have been collected across the Golden Ridge Project area, including the granodiorite and its contact zones with the surrounding metasediments. This sampling and analysis technique is proving to be a highly effective first-pass exploration tool for identifying gold mineralisation, outlining extensive coherent gold anomalism along the granodiorite-metasediment contact. The technique has successfully identified new anomalies within the granodiorite including the Grenadier5, Duke5 and Trafalgar North6 prospects. 5 6 See FG1 ASX Announcement dated 17 April 2024 for full details. See FG1 ASX Announcement dated 19 July 2024 for full details. Page 8 of 16 | ABN 82 644 122 216 | ASX: FG1 Level 4, 96-100 Albert Road, South Melbourne, Victoria, 3205 Soil sampling completed during the quarter, with results reported subsequent to the end of the quarter 7 came from four lines of sampling undertaken at the Grenadier Prospect, two lines in the metasediments south of the Golden Ridge Prospect, one short line north of the Duke Prospect and two long lines within the granodiorite west of the Double Event Prospect. The gold and arsenic results for these new areas are shown in Figures 6 and 7. The most encouraging results have been received from the Grenadier prospect. Figure 6 – Golden Ridge: Gold-in-Soils (Ultrafine+) Heat Map. 7 See FG1 ASX Announcement dated 16 October 2024 for full details. Page 9 of 16 | ABN 82 644 122 216 | ASX: FG1 Level 4, 96-100 Albert Road, South Melbourne, Victoria, 3205 Grenadier Prospect Four lines of widely spaced (200m x 50m grid) soil samples have been collected at Grenadier, covering an area of approximately 600m x 1000m straddling the western granodioritemetasediment contact. The sampling clearly defines a significant gold and arsenic anomaly close to the contact zone, which is a very encouraging confirmation of the earlier line of samples collected 8 (see Figures 6 & 7) 9. Figure 7 – Golden Ridge: Arsenic in Soils (Ultrafine+) Heat Map. 8 See FG1 ASX Announcement dated 17 April 2024 for full details. 9 See FG1 ASX Announcement dated 16 October 2024 for full details. Page 10 of 16 | ABN 82 644 122 216 | ASX: FG1 Level 4, 96-100 Albert Road, South Melbourne, Victoria, 3205 Follow-up field mapping and grab rock chip sampling has subsequently discovered areas of quartz float that include evidence of arsenopyrite (weathered to scorodite) and pyrite mineralisation, which is characteristic of the intrusive related gold system type veining seen throughout the broader Golden Ridge project area. A total of 29 float and in-situ rock chip samples were collected across the Grenadier prospect area, returning assay grades ranging up to 16.0g/t Au, 13.2g/t Au, 12.0g/t Au and 10.2g/t Au (Figures 8 and 9). Figure 8 – Grenadier Prospect: Gold in Soils and Rock Chip Sampling The soil and surface sampling anomalies were followed up with reconnaissance trenching (Trenches 1 to 3) which successfully discovered in-situ quartz-sulphide veining over a strike length of 50m (open), under a relatively shallow regolith cover (see Figure 9). Assay results from channel sampling of the initial trenches, identified significant mineralised intercepts: • Trench 3: 1.3m @ 6.6g/t Au including 0.15m @ 7.5 g/t Au and 0.4m @ 17.7g/t Au; • Trench 2: 1.0m @ 2.2g/t Au, and 1.0m @ 1.13g/t Au, and • Trench 1: 6.4m @ 1.33g/t Au, including 2.0m @ 3.0g/t Au (see Figure 9). Subsequent to the end of the quarter, two additional lines of soil sampling (see Figure 8) and Trench 4 (see Figure 9) were completed with assays pending 10. 10 See FG1 ASX Announcement dated 16 October 2024 for full details. Page 11 of 16 | ABN 82 644 122 216 | ASX: FG1 Level 4, 96-100 Albert Road, South Melbourne, Victoria, 3205 Figure 9 – Grenadier Prospect: Trench Area Plan EDGI Funding for Drilling New Targets During the quarter, the Company was advised that it was successful with two applications in Round 10 of the Tasmanian State Government’s Exploration Drilling Grant Initiative (EDGI) 11. The successful applications will support exploration drilling targeting new zones of gold mineralisation at the Golden Ridge Project. EDGI is a Tasmanian State Government initiative to co-fund exploration drilling projects. The Tasmanian State Government is funding this initiative and the program is administered by Mineral Resources Tasmania (MRT). The Company lodged two applications with MRT for co-funded drilling at two locations within EL17/2018 (Golden Ridge), with both applications successful for the full amount of $70,000 each ($140,00 in total) to cover half of the direct drilling costs. 11 See FG1 ASX Announcement dated 27 September 2024 for full details. Page 12 of 16 | ABN 82 644 122 216 | ASX: FG1 Level 4, 96-100 Albert Road, South Melbourne, Victoria, 3205 Exploration Licence Application - Beaconsfield During the quarter, Flynn Gold submitted an Exploration Licence Application (EL13/2024) for strategically located tenure surrounding the historical Beaconsfield Gold Mine, located approximately 35km north-west of Launceston in North-East Tasmania (see Figure 2) 12. The 40km2 Exploration Licence Application surrounds the Mining Lease over the high-grade Beaconsfield Gold Mine, the largest gold mine in NE Tasmania with historical production of 3.79Mt @ 14.5g/t Au for 1.77Moz Au. The licence application covers a prospective 12km corridor along the Cabbage Tree thrust block that contains numerous historic gold workings and prospects (see Figure 10). Figure 10 – Beaconsfield Tenement Location Map. 12 See FG1 ASX Announcement dated 23 August 2024 for full details. Page 13 of 16 | ABN 82 644 122 216 | ASX: FG1 Level 4, 96-100 Albert Road, South Melbourne, Victoria, 3205 NE Tasmania – Tenement Surrenders During the quarter, the Company reviewed its existing land tenure position in NE Tasmania. As a result, the Company surrendered EL18/2018 (Telegraph) and partially surrendered EL4/2020 (Lyndhurst) and EL3/2020 (Lisle), reducing Flynn’s overall landholding by 457km2 to approximately 1,020km2. This 30% reduction in area will reduce holding costs with annual rent and minimum annual expenditure commitments significantly reduced 13. WA Gold-Lithium Projects Flynn Gold has five gold-lithium projects in Western Australia, strategically located in districts that host large gold and lithium deposits or in districts that the Company considers relatively underexplored for lithium. During the quarter, Flynn completed a limited field reconnaissance program at its Yarrie Project. The Company also completed a review of its land holdings in Western Australia, which resulted in the surrender of E45/5732 (Yarrie) and E63/2229 and E63/2230 (Lake Johnston). Corporate Cash Position The Company’s cash position at 30 September 2024 was $1.83 million. Summary of expenditure The Company’s major cashflow movements for the quarter included: • • • Exploration & Evaluation expenditure - $796k; Employee costs - $132k; and Administration and corporate costs - $207k. Payments to related parties of the entity and their associates In the September quarterly Appendix 5B, the figure of $113k as disclosed in section 6.1 and 6.2 relates to salaries and fees (including superannuation) paid to directors and their associates during the quarter. 13 See FG1 ASX Announcement dated 23 August 2024 for full details. Page 14 of 16 | ABN 82 644 122 216 | ASX: FG1 Level 4, 96-100 Albert Road, South Melbourne, Victoria, 3205 Company Presentation – Resources Rising Stars Gold Coast In September, Flynn Gold Managing Director and Chief Executive Officer Neil Marston presented at the Resources Rising Stars Gold Coast Conference. A video of the presentation 14 can be viewed at the following link: https://investorhub.flynngold.com.au/activity-updates/rrs-gold-coast-investor-conferencepresentation At-The-Market Subscription Agreement Subsequent to the end of the Quarter, Flynn Gold entered into an At-The-Market Subscription Agreement (ATM) with Dolphin Corporate Investments Pty Ltd (“Dolphin”) 15. The ATM provides Flynn Gold Limited with up to $2,000,000 of standby equity capital over a three years period. It also provides the Company with a cost effective and flexible funding option. As security for the ATM, the Company agreed to place 6,400,000 fully paid ordinary FG1 shares (“Security Shares”) from its LR7.1 capacity at nil cash consideration to Dolphin. Upon early termination or maturity of the ATM, the Company may buy back (and cancel) the Security Shares for no cash consideration (subject to shareholder approval). Approved by the Board of Flynn Gold Limited. 22 October 2024 For further information on the Company and its projects visit: www.flynngold.com.au or contact: Neil Marston Managing Director & CEO +61 3 9692 7222 info@flynngold.com.au Nicholas Read Media & Investor Relations +61 (0) 419 929 046 nicholas@readcorporate.com.au 14 See FG1 ASX Announcement dated 3 August 2024 for full details. 15 See FG1 ASX Announcement dated 15 October 2024 for full details. Page 15 of 16 | ABN 82 644 122 216 | ASX: FG1 Level 4, 96-100 Albert Road, South Melbourne, Victoria, 3205 Interests in Mining Tenements The Company holds a granted beneficial interest in the following tenements as at 30th September 2024: Licence Description Interest acquired/farm-in or disposed/farm-out during the quarter Mining Tenement Location Beneficial Percentage held EL11/2012 NE Tasmania 100% Portland - EL18/2018 NE Tasmania 0% Telegraph Full Surrender EL18/2016 NE Tasmania 100% Cameron - EL17/2018 NE Tasmania 100% Golden Ridge - EL16/2021 NE Tasmania 100% Bendover Hill - EL02/2019 NE Tasmania 100% Mangana - EL3/2020 NE Tasmania 100% Lisle Partial Surrender EL4/2020 NE Tasmania 100% Lyndhurst Partial Surrender EL30/2004 NE Tasmania 100% Warrentinna - EL26/2004 NW Tasmania 100% Firetower - EL6/2015 W Tasmania 100% Henty South - EL3/2018 W Tasmania 100% Henty North - E45/5055 Pilbara, WA 100% Mt Dove - E45/6156 Pilbara, WA 100% Mt Dove - E45/6157 Pilbara, WA 100% Mt Dove - E45/6158 Pilbara, WA 100% Mt Dove - E45/5730 Yarrie, WA 100% Shay Gap - E45/5731 Yarrie, WA 100% Shay Gap - E45/5732 Yarrie, WA 0% Shay Gap E77/1965 Parker Dome, WA 0% Parker Dome E77/2091 Parker Dome, WA 0% Parker Dome E77/2739 Koolyanobbing, WA 100% Rainy Rocks Full Surrender Under Option to Purchase Under Option to Purchase - E77/2915 Forrestania, WA 100% East Indies - E63/2187 Lake Johnston, WA 100% Mt Day North - E63/2188 Lake Johnston, WA 100% Ant Rock - E63/2190 Lake Johnston, WA 100% Bremer - E63/2229 Lake Johnston, WA 0% Forrestania Full Surrender E63/2230 Lake Johnston, WA 0% Forrestania Full Surrender References ASX Announcement 19 July 2024 New High-Grade Gold Discovery at Golden Ridge, NE Tasmania ASX Announcement 23 August 2024 EL Application at Beaconsfield ASX Announcement 16 September 2024 - Drilling Confirms New High-Grade Gold Zone at Golden Ridge ASX Announcement 27 September 2024 - Flynn Secures $140,000 in Grant Funding for Drilling at Golden Ridge ASX Announcement 15 October 2024 At-The-Market Subscription Agreement ASX Announcement 16 October 2024 New Gold Vein System Discovery at Grenadier Prospect, Golden Ridge Page 16 of 16 | ABN 82 644 122 216 | ASX: FG1 Level 4, 96-100 Albert Road, South Melbourne, Victoria, 3205 Rule 5.5 Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report Name of entity Flynn Gold Limited ABN Quarter ended (“current quarter”) 82 644 122 216 30 September 2024 Consolidated statement of cash flows Current quarter $A’000 1. Cash flows from operating activities 1.1 Receipts from customers 1.2 Payments for Year to date (3 months) $A’000 - - (796) (796) (b) development - - (c) production - - (d) staff costs (132) (132) (e) administration and corporate costs (207) (207) - - 36 36 (a) exploration & evaluation 1.3 Dividends received (see note 3) 1.4 Interest received 1.5 Interest and other costs of finance paid - - 1.6 Income taxes paid - - 1.7 Government grants and tax incentives - - 1.8 Other (provide details if material) - - 1.9 Net cash from / (used in) operating activities (1,099) (1,099) 2. Cash flows from investing activities 2.1 Payments to acquire or for: (a) entities - - (b) tenements - - (7) (7) (d) exploration & evaluation - - (e) investments - - (18) (18) (c) property, plant and equipment (f) other non-current assets ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms. Page 1 Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report Consolidated statement of cash flows 2.2 Current quarter $A’000 Year to date (3 months) $A’000 Proceeds from the disposal of: (a) entities - - (b) tenements - - (c) property, plant and equipment - - (d) investments - - (e) other non-current assets - - 2.3 Cash flows from loans to other entities - - 2.4 Dividends received (see note 3) - - 2.5 Other (provide details if material) - - 2.6 Net cash from / (used in) investing activities (25) (25) 3. Cash flows from financing activities 3.1 Proceeds from issues of equity securities (excluding convertible debt securities) - - 3.2 Proceeds from issue of convertible debt securities - - 3.3 Proceeds from exercise of options 3 3 3.4 Transaction costs related to issues of equity securities or convertible debt securities - - 3.5 Proceeds from borrowings - - 3.6 Repayment of borrowings - - 3.7 Transaction costs related to loans and borrowings - - 3.8 Dividends paid - - 3.9 Other (payments of Lease Liabilities) (5) (5) 3.10 Net cash from / (used in) financing activities (2) (2) 4. Net increase / (decrease) in cash and cash equivalents for the period 4.1 Cash and cash equivalents at beginning of period 2,958 2,958 4.2 Net cash from / (used in) operating activities (item 1.9 above) (1,099) (1,099) 4.3 Net cash from / (used in) investing activities (item 2.6 above) (25) (25) 4.4 Net cash from / (used in) financing activities (item 3.10 above) (2) (2) ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms. Page 2 Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report Consolidated statement of cash flows 4.5 Effect of movement in exchange rates on cash held 4.6 Cash and cash equivalents at end of period 5. Reconciliation of cash and cash equivalents at the end of the quarter (as shown in the consolidated statement of cash flows) to the related items in the accounts Current quarter $A’000 Year to date (3 months) $A’000 - - 1,832 1,832 Current quarter $A’000 Previous quarter $A’000 5.1 Bank balances 332 308 5.2 Call deposits 1,500 2,650 5.3 Bank overdrafts - - 5.4 Other (provide details) - - 5.5 Cash and cash equivalents at end of quarter (should equal item 4.6 above) 1,832 2,958 6. Payments to related parties of the entity and their associates 6.1 Aggregate amount of payments to related parties and their associates included in item 1 113 6.2 Aggregate amount of payments to related parties and their associates included in item 2 - Current quarter $A'000 Note: if any amounts are shown in items 6.1 or 6.2, your quarterly activity report must include a description of, and an explanation for, such payments. 7. Financing facilities Note: the term “facility’ includes all forms of financing arrangements available to the entity. Add notes as necessary for an understanding of the sources of finance available to the entity. Total facility amount at quarter end $A’000 Amount drawn at quarter end $A’000 7.1 Loan facilities - - 7.2 Credit standby arrangements - - 7.3 Other (please specify) - - 7.4 Total financing facilities - - 7.5 Unused financing facilities available at quarter end 7.6 Include in the box below a description of each facility above, including the lender, interest rate, maturity date and whether it is secured or unsecured. If any additional financing facilities have been entered into or are proposed to be entered into after quarter end, include a note providing details of those facilities as well. - N/A ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms. Page 3 Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report 8. Estimated cash available for future operating activities $A’000 8.1 Net cash from / (used in) operating activities (item 1.9) 8.2 (Payments for exploration & evaluation classified as investing activities) (item 2.1(d)) 8.3 Total relevant outgoings (item 8.1 + item 8.2) (1,099) 8.4 Cash and cash equivalents at quarter end (item 4.6) 1,832 8.5 Unused finance facilities available at quarter end (item 7.5) 8.6 Total available funding (item 8.4 + item 8.5) 1,832 8.7 Estimated quarters of funding available (item 8.6 divided by item 8.3) 1.67 (1,099) - - Note: if the entity has reported positive relevant outgoings (ie a net cash inflow) in item 8.3, answer item 8.7 as “N/A”. Otherwise, a figure for the estimated quarters of funding available must be included in item 8.7. 8.8 If item 8.7 is less than 2 quarters, please provide answers to the following questions: 8.8.1 Does the entity expect that it will continue to have the current level of net operating cash flows for the time being and, if not, why not? Answer: Yes. However the Company does have discretion to reduce its operating activities should it need to with its discretionary exploration activities. 8.8.2 Has the entity taken any steps, or does it propose to take any steps, to raise further cash to fund its operations and, if so, what are those steps and how likely does it believe that they will be successful? Answer: Yes, the Company expects that additional capital will be required to fund its operations. The Company is confident in its ability to secure the necessary funds as and when required to continue its exploration activities, having received strong support for previous equity raises. Furthermore, the Company announced on 15 October 2024 that it had entered into an AtThe-Market Subscription Agreement with Dolphin Corporate Investments Pty Ltd which provides the Company with up to $2,000,000 of standby equity capital over the next 3 years should it be required. 8.8.3 Does the entity expect to be able to continue its operations and to meet its business objectives and, if so, on what basis? Answer: Yes, for the reasons noted above. Note: where item 8.7 is less than 2 quarters, all of questions 8.8.1, 8.8.2 and 8.8.3 above must be answered. ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms. Page 4 Appendix 5B Mining exploration entity or oil and gas exploration entity quarterly cash flow report Compliance statement 1 This statement has been prepared in accordance with accounting standards and policies which comply with Listing Rule 19.11A. 2 This statement gives a true and fair view of the matters disclosed. Date: 22 October 2024 Authorised by: The Board Notes 1. This quarterly cash flow report and the accompanying activity report provide a basis for informing the market about the entity’s activities for the past quarter, how they have been financed and the effect this has had on its cash position. An entity that wishes to disclose additional information over and above the minimum required under the Listing Rules is encouraged to do so. 2. If this quarterly cash flow report has been prepared in accordance with Australian Accounting Standards, the definitions in, and provisions of, AASB 6: Exploration for and Evaluation of Mineral Resources and AASB 107: Statement of Cash Flows apply to this report. If this quarterly cash flow report has been prepared in accordance with other accounting standards agreed by ASX pursuant to Listing Rule 19.11A, the corresponding equivalent standards apply to this report. 3. Dividends received may be classified either as cash flows from operating activities or cash flows from investing activities, depending on the accounting policy of the entity. 4. If this report has been authorised for release to the market by your board of directors, you can insert here: “By the board”. If it has been authorised for release to the market by a committee of your board of directors, you can insert here: “By the [name of board committee – eg Audit and Risk Committee]”. If it has been authorised for release to the market by a disclosure committee, you can insert here: “By the Disclosure Committee”. 5. If this report has been authorised for release to the market by your board of directors and you wish to hold yourself out as complying with recommendation 4.2 of the ASX Corporate Governance Council’s Corporate Governance Principles and Recommendations, the board should have received a declaration from its CEO and CFO that, in their opinion, the financial records of the entity have been properly maintained, that this report complies with the appropriate accounting standards and gives a true and fair view of the cash flows of the entity, and that their opinion has been formed on the basis of a sound system of risk management and internal control which is operating effectively. ASX Listing Rules Appendix 5B (17/07/20) + See chapter 19 of the ASX Listing Rules for defined terms. Page 5