Manuka Resources Limited released an updated Mineral Resources Estimate after open cut mining (current pit floor RL165) completed in Fourth Quarter 2021. This estimate incorporates additional drill hole data post cessation of mining conducted in First Quarter 2022. The total remaining Resource as at 19 May 2022 is 281,850 tonnes at a grade of 4.95 g/t Au for 44,820 ounces.

The mineral resource estimate for Mt Boppy is reported within a pit shell that reaches a depth of 215m below surface at the southern end of the deposit. Resources are reported with respect to the current pit design. Material within the pit design is reported at a 1.6 g/t cut off and material below the pit design is reported to a 3.0 g/t cut off.

Resources were classified in accordance with the guidelines of JORC (2012), using a combination of average distance to informing samples, number of informing samples used and kriging statistics (conditional bias slope and kriging variance). The following classification criteria were applied: · Measured: blocks estimated in pass 1 using a distance to the nearest sample of < 10 m, average sample distance of < 20 m and conditional bias slope >0.7 and kriging variance <0.4. · Indicated: blocks estimated in pass 1 using a distance to the nearest sample of 20m, and average sample distance of < 40 m, with a conditional bias slope >0.5, plus all stope fill material · Inferred: remaining blocks estimated with at least 6 samples · Unclassified: blocks estimated with less than 6 samples. An Inferred Mineral Resource has a lower level of confidence than that applying to an Indicated Mineral Resource and cannot be converted to an Ore Reserve.

It is reasonably expected that most of the Inferred Mineral Resources could be upgraded to Indicated Mineral Resources with continued exploration. Based on the study herein reported, delineated mineralization of Mt Boppy deposit is classified as Measured, Indicated and Inferred resources according to the definitions of the JORC Code (2012). The mineral resource is depleted to the November 30th projected pit pick-up.