Resolution Minerals : Quarterly Activities and Cashflow Report 30 June 2022

For personal use only

QUARTERLY REPORT

June 2022

Released 29 July 2022

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HIGHLIGHTS

64North Gold Project, Alaska

• High priority drill targets defined at Tourmaline Ridge Prospect
• Drilling commenced at Tourmaline Ridge

useNorthern Territory Battery Metals

Benmara Project

• Significant $4m Farm in and JV agreement with OZ Minerals

Corporate

personalFor	• Appointment of new Managing Director, Steven Groves
• Successful Placement and Rights Issue to progress the 64North Project
	• Cash at bank on 30 June 2022 of $2.3 million

Figure 1 Drilling (Diamond Core Rig) on the 64North Project (June 2022.)

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QUARTERLY REPORT

June 2022

For personal use only

"

Significant progress has been made across all our projects during the quarter, setting the Company up for a sustained period of exploration success and corresponding news flow.

Diamond drilling commenced in Alaska at the Tourmaline Ridge Prospect in June, targeting a recently re-interpreted,Pogo-style mineralised vein system a few kilometres along strike from the 12m oz Pogo Gold Deposit.

In the Northern Territory, planning is well advanced in preparation for a significant drilling program of up to 6,500m targeting battery and base metals at the Wollogorang Project. Due to commence later this year, this program is fully funded by our JV partner OZ Minerals.

In a major show of support for our battery metals targets in the NT, the Company entered into a $4m JV with OZ Minerals over the Benmara Project, increasing our partnership with OZ Minerals to cover over 7,500km2 of highly prospective, underexplored ground.

The company also undertook a successful capital raise to secure sufficient resources to continue to fund our priority exploration programs at 64North and Carrara Range.

It's a privilege to be joining the team at Resolution as the Company embarks on an exciting exploration phase for the remainder of 2022

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- Managing Director Steven Groves

WATCH new Managing Director Steven Groves discuss the

Quarterly Activities Report (5min)

www.resolutionminerals.com/investor-center/quarterly-report-june-2022

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For personal use only

QUARTERLY REPORT

June 2022

only	EXPLORATION ACTIVITIES
64North Project, Alaska

• High priority drill targets defined at Tourmaline Ridge Prospect
• Drilling commenced at Tourmaline Ridge

useThe 64North Project is in the Tintina Gold Province and home of giant size gold deposits such as Donlin Creek 39M oz Au, Fort Knox 13M oz gold and the world-classhigh-grade Pogo Gold Mine, with total

endowment of 12M oz Au (See Figure 2). The 64North Project surrounds Northern Star's (ASX:NST) Pogo personalGold Mine, 120km from Fairbanks. The Pogo Gold Mine started production in 2006, producing

pproximately 4M oz Au @ 300,000oz/year at over 13g/t Au from 2006 to 2018.

Resolution Minerals (RML or Company) holds a 42% interest in the 64North Project and is earning up to a 60% interest in four stages. RML has a conditional pathway to 80% interest in a single "Best Block" at RML's election. The Project is owned by Millrock Resources (Vendor) (TSXV:MRO). See RML ASX Announcement 31 January 2022 for full details. The total size of the claim blocks is 357km2.

For

Figure 2. Alaska-Yukon Endowment Map*: Deposit sizes stated as Endowment (Resources & Reserves + Historic Production)

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