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1 ASX ANNOUNCEMENT 15th March 2017 ASSAY RESULTS CONFIRM NICKEL-COPPER-COBALT SULPHIDE MINERALISATION AT FRASER LAKE COMPLEX Drill assay results frm Fraser Lake Cmplex reveal mine-grade Ni-Cu-C mineralisatin Analgus with the nearby Lynn Lake Mine 24-year mining peratin Head grade f 1.02%Ni, 0.54%Cu (C nt available) Initial results f selectively sampled semi-massive t massive zne reprted in February, identifies tw discrete intersectins: 1.36m at 1.80% NiEq* (0.92% Ni, 0.89% Cu and 0.07% C) 1.31m at 1.85% NiEq* (1.05% Ni, 0.67% Cu and 0.08% C) Cbalt grades nearly duble thse histrically reprted at Lynn Lake Next phase f drilling underway First hle cmpleted - intersected sme f the best sulphide mineralisatin at FLC t date Cnductr nt intersected in interpreted psitin Extensive Ni-Cu-C sulphide mineralisatin f intrusive gabbr Sulphidic sediment anmalus in nickel intersected deeper dwn-hle Additinal dwn-hle EM underway t assess targeted anmaly Further assay results pending Explratin results ver ptential feeder zne identifies new targets Crazn Mining Limited (ASX: CZN) ( Crazn r the Cmpany ) is pleased t annunce initial assay results frm its Phase 1 drilling prgram at the Fraser Lake Cmplex ( FLC ) within the Lynn Lake Nickel-Cpper-Cbalt Prject in Canada, and advise that the secnd phase f drilling has cmmenced. Assay results received t date cnfirm that Crazn has intersected Lynn Lake Mine tenr grade nickel-cpper-cbalt mineralisatin. This supprts the Cmpany s view that the large mineralised magmatic sulphide system, identified by drilling t date at the FLC, has the capacity t hst nickel-cpper-cbalt depsits similar t that which supprted mining fr decades at the nearby Lynn Lake Mining Centre. Crazn is fcusing its explratin effrt n a large induced plarizatin (IP) chargeable gephysical anmaly (the Matrix Trend) with a defined strike f 600m and ptential strike f mre than 1.5km. T date, three hles have tested this anmaly, with all intersecting substantial widths f nickel-cpper-cbalt sulphide mineralisatin. Despite these spectacular results, it s the Cmpany s assessment that all three hles have nt intersected the targeted anmalies and as such there is a cntinuus refinement f targeting mdels. (* = Nickel equivalents (NiEq %) are used as an indicatr f value, with there being reasnable expectatins fr the recvery f all metals reprted. NiEq % = Ni%+((Cu% x (Cu$/Ni$))+((C% x (C$/Ni$)) where Ni$ = 4.60 $US/lb Cu$ = 2.61 $US/lb C$ = $US/lb.)

2 Lynn Lake Run f Mine Grade Mineralisatin Intersected The first phase f drilling intersected small znes f massive sulphide in a predminantly semimassive setting, prving the magmatic sulphide system within the Matrix Trend has the capacity t develp and hst Lynn Lake-style depsits (ASX annuncement 6 February, 2017). Initial assay results frm Phase 1 drilling cnsist f fur samples frm intervals including small znes f massive sulphide (within a sampled interval classified as semi-massive) and the distinctive Lepard Rck mineralisatin (Table 1 and Figure3). This mineralisatin is cnsidered the best intersectin in the Phase 1 prgram, Results indicate that within the FLC a sulphide cntent f between 35% and 50% can be expected t return grades f abut 1% nickel, 0.6% cpper and 0.07% cbalt (Table 1). These early results prve that the pyrrhtite, chalcpyrite and pentlandite sulphide mineralisatin at the FLC is typical f the histrical Lynn Lake Mining Centre. The Cmpany believes the ptential exists t identify znes f higher grade mineralisatin in the FLC, particularly massive sulphide mineralisatin (50% t 100% sulphide cntent) which will deliver very strng nickel, cpper and cbalt results. Pint values taken with a hand-held XRF, frm the small massive znes and strng sulphide aggregates, returned grades n average between 3% and 4% nickel (refer t Table 2 fr details f this testwrk). Cbalt grades returned in the Phase 1 drilling were almst duble the grade fr crrespnding nickel grade rcks within the histrical Lynn Lake Mining Centre. The Cmpany interprets this mineralisatin t be a small finger ff a larger sulphide bdy. The higher cbalt cntent supprts that the mineralisatin is late stage and pssibly higher up in the magmatic system. Depth Width (m) Descriptin Sulphide % Frm (m) T (m) Semi-Massive* Altered Gabbr trace Lepard rck* Results Ni % Cu % C % NiEq % 1.80 Awaiting results Table 1 Cmpsited assay results returned t date frm Phase 1 drill hle FLC Visual sulphide % cntent is supprted by gechemistry. Nickel equivalents (NiEq %) are used as an indicatr f value, with there being reasnable expectatins fr the recvery f all metals reprted. NiEq % = Ni%+((Cu% x (Cu$/Ni$))+((C% x (C$/Ni$)) where Ni$ = 4.60 $US/lb Cu$ = 2.61 $US/lb C$ = $US/lb. * = Refer Figure 3 fr cre pht. The style and tenr f the nickel-cpper-cbalt mineralisatin in the Matrix Trend is significant in that it identifies the feeder zne f the FLC as a well mineralised magmatic system with the ptential t develp high-grade sulphide depsits. Even mre significant, the Cmpany cnsiders that neither hle FLC nr 003 intersected the targeted gephysical anmalies.

3 Figure 1 Gephysical Features and Targets. Aermagnetic Ttal Field image verlain by Gradient Array IP Chargeability image, with the main IP anmaly (Matrix HC IP), IP Survey utline, histrical drill hle and current drill hle lcatins (FLC-2017-*). A gravity high anmaly t the suth f the FLC intrusin is believed t be the surce f mantle material that feed the intrusin. The main IP anmaly trends ff the IP surveyed area and is in alignment with the interpreted neck/feeder zne f the intrusin. The FLC is pregnant with mature stage magmatic sulphides appearing in frms that suggest significant clustering and settling f sulphides within the melt. The hangingwall (verlying) mafic sequence t the results in Table 1 (frm surface t 387.5m), cnsisted predminantly f gabbric rcks with pervasive magmatic sulphide mineralizatin ver its entire length. Numerus intervals cntaining apprximately ne percent sulphide cnsisting f interstitial sulphides and small drplets f sulphide were nted. Between these intervals, it is cmmn t bserve large (several millimeters t centimetre sized) magmatic pyrrhtite-pentlanditechalcpyrite drplets f variable frequency. In ther places laminae f sulphides were cnfrmable t the primary igneus fabric f the rck.

4 Lcalized irregular sulphide patches up t 70 cm in width were cmmn, as well as a semimassive sulphides (~ 20%) frm depths f m t m. The ftwall (underlying) magmatic stratigraphy frm m t the end f the hle cntained less amunts f sulphide material than the hangingwall. Frm m t 429 m several intervals with 3-5% interstitial and blebby sulphides as well as lcalized centimeter size sulphide drplets were apparent. Frm 429 t 478m the sulphide cntent decreased and cntained nly tw intervals greater than tw meters thick that cntained 1-2 % sulphides. Phase 2 Drilling Underway Crazn advises that the next phase f drilling at the FLC has cmmenced, and the first hle in this prgram (FLC ) has been cmpleted. It is ne f several pririty hles prpsed within the Matrix Trend (Figure 1). FLC targeted a strng electrmagnetic cnductr generated frm the Cmpany s recent dwn-hle electrmagnetic survey (DHEM) f hle FLC , sme 120m t the suthwest (ASX annuncement 13 February 2017). Intrusive gabbric units in hle FLC appear similar t the mineralised units within hles FLC and -003, als within the Matrix Trend. Nickel-cpper magmatic sulphides appear as drplets and glbules up t several centimetres in size. These sulphides represent znes f strngly disseminated t semi-massive cncentratins in lcalized znes within the hle. They are mature stage magmatic sulphides appearing in frms that suggest significant clustering and settling f sulphides within the melt. In cnjunctin with hles FLC and -003, initial interpretatin f hle FLC , has identified mre than 400 metres strike f significant sulphide mineralisatin within the Matrix Trend, a zne measuring +600m by 120m and pen. This hle has nt intersected the targeted cnductr at the interpreted psitin/targeted depth. the area appears structurally mre cmplex than that previusly bserved within the FLC, hwever the Lynn Lake depsits can be quite disrupted and structurally cntrlled. Sulphide rich sediments with up t 0.4% nickel (tested with hand-held XRF) were intersected 60m further dwn-hle frm the targeted depth f the EM cnductr. Further DHEM is currently underway t mre accurately interrgate this area and assist in the targeting f fllw-up explratin. Drilling f hle FLC is abut t cmmence. This hle is targeting a cincident magnetic, IP chargeable and nickel gechemical anmaly nly 80m frm hle FLC that intersected the semi-massive t massive sulphide mineralisatin within the initial phase f drilling. FLC will als enable the DHEM testing f the mineralisatin intersected in FLC Exciting Targets Identified Explratin f the FLC is at an early stage, and the prject cntinues t appreciate in value and deliver impressive results. The discvery f the Matrix Trend is an exciting develpment and, imprtantly, represents just ne f many pririty targets within the intrusin. The first three hles int this zne have prvided an enrmus amunt f infrmatin that is being fed back int the explratin targeting prcess.

5 In additin t drilling, n site there are three gephysical crews cmpleting grund IP, grund magnetics and DHEM. The generatin f new targets and the assessment f existing targets is a cntinuus prcess. Early findings frm the grund magnetics defines the interpreted feeder zne t the FLC as a distinctive magnetic feature. The typical Lynn Lake mineralisatin has a magnetic signature. Bth hles FLC and -003 had strng near surface sulphide mineralisatin (assays yet t be received) that are magnetically anmalus. This wrk remains in prgress and, used in unisn with the IP surveys, will be a pwerful prspecting tl. Grund IP is underway testing the suthwest strike extents f the feeder zne and the Matrix Trend. An initial gradient array survey shuld be cmpleted within the next tw weeks, with the detailed ple-diple surveys t fllw. Frm the gradient array survey, Crazn will be able t identify pririty areas fr fllw-up explratin. DHEM is underway n hle FLC and will be cmpleted n all subsequent drill hles. The Cmpany is quickly establishing that the strnger EM respnses (cnductrs) may nt be the best targets fr magmatic sulphide depsits, as bth hles FLC and -008 intersected sulphidic sediments. DHEM wrk cmpleted by Crazn in n a high-grade sulphide breccia within the Lynn Lake Mining Centre identified a very subtle EM respnse. The Cmpany cntinues t data-mine histrical infrmatin. The ne histric drill hle int the FLC that returned anmalus nickel and cpper results 0.82% Ni and 0.55% Cu) was cmpleted in 1954 apprximately 600m t the nrth f the Matrix Trend. The descriptin f this mineralisatin is similar t the near surface mineralisatin intersected in hles FLC and -003 within the FLC. The area histrically drilled includes abundant barren sulphidic sediments (rf pendants) that are believed t be imprtant in the frmatin f magmatic sulphides within the FLC. It is pssible this area is prspective fr extensive near surface mineralisatin f a similar grade t that histrically mined at Lynn Lake.

6 Figure 2 Prject Lcatin and Gelgy. Interpreted Gelgy Emslie, R.R. and Mre, J.M Manitba Mines Branch, Publicatin Datum UTM Zne 14 (NAD83). Lynn Lake is cnsidered an histrically significant nickel mine and remains the furth largest nickel prducing districts in Canada, despite the mine clsing in The Fraser Lake Cmplex is twice as large as Lynn Lake and in many facets is gelgically identical t Lynn Lake.

7 Figure 3 Drill Cre Phts Fraser Lake Cmplex Drilling (scale = Cre Diameter 47.6mm) A. FLC Semi-massive sulphide (massive sulphide with inclusins f runded gabbr barren fragments) B. FLC Lepard Rck sulphide mineralisatin, grading int massive sulphide C. FLC Immiscible Ni-Cu magmatic sulphides as drplets and glbules up t several centimetres. D. FLC Pentlandite and Chalcpyrite rimming Pyrrhtite E. FLC Immiscible Ni-Cu magmatic sulphides as drplets and glbules Cu-rich zne.

8 END. Fr further infrmatin visit r cntact: Brett Smith Managing Directr Crazn Mining Limited P: +61 (8) E: inf@craznmining.cm.au James Mses Media & Investr Relatins Mandate Crprate M: +61 (0) E: james@mandatecrprate.cm.au Cmpetent Persns Statement The infrmatin in this reprt that relates t Explratin Results and Targets is based n infrmatin cmpiled by Mr Brett Smith, B.Sc Hns (Gel), Member AusIMM, Member AIG and an emplyee f Crazn Mining Limited. Mr Smith has sufficient experience that is relevant t the style f mineralizatin and type f depsit under cnsideratin and t the activity which he is undertaking t qualify as a Cmpetent Persn as defined in the 2012 Editin f the Australasian Cde fr Reprting f Explratin Results, Mineral Resurces and Ore Reserves. Mr Smith cnsents t the inclusin in the reprt f the matters based n this infrmatin in the frm and cntext in which it appears. Canadian gelgist Dr Larry Hulbert has been engaged by Crazn t manage the cllatin f past explratin infrmatin and the definitin f new targets at Lynn Lake. Dr Hulbert has extensive knwledge f the Lynn Lake district and ver 40 years experience in Ni-Cu-PGM explratin and research. Dr Hulbert is ne f Nrth America's fremst experts n magmatic sulphide depsits and wuld qualify as a Cmpetent Persn as defined in the 2012 Editin f the Australasian Cde fr Reprting f Explratin Results, Mineral Resurces and Ore Reserves. Dr. Hulbert has authred numerus prfessinal papers, was the recipient f the Barlw Medal frm CIM in 1993, a Rbinsn Distinguished Lecturer fr the Gelgical and Mineralgical Assciatin f Canada fr , and in 2003 received the Earth Sciences Sectr Merit Award frm Natural Resurces Canada. Frward Lking Statements This annuncement cntains certain statements that may cnstitute frward lking statement. Such statements are nly predictins and are subject t inherent risks and uncertainties, which culd cause actual values, results, perfrmance achievements t differ materially frm thse expressed, implied r prjected in any frward lking statements.

9 Table 2: Checklist f Assessment and Reprting Criteria 15 th March, 2017 Cre Drilling - Fraser Lake Cmplex - Lynn Lake Prject, Canada. Sectin 1 Sampling Techniques and Data Criteria JORC Cde explanatin Cmmentary Sampling techniques Drilling techniques Drill sample recvery Nature and quality f sampling (eg cut channels, randm chips, r specific specialised industry standard measurement tls apprpriate t the minerals under investigatin, such as dwn hle gamma sndes, r handheld XRF instruments, etc). These examples shuld nt be taken as limiting the brad meaning f sampling. Include reference t measures taken t ensure sample representivity and the apprpriate calibratin f any measurement tls r systems used. Aspects f the determinatin f mineralisatin that are Material t the Public Reprt. In cases where industry standard wrk has been dne this wuld be relatively simple (eg reverse circulatin drilling was used t btain 1 m samples frm which 3 kg was pulverised t prduce a 30 g charge fr fire assay ). In ther cases mre explanatin may be required, such as where there is carse gld that has inherent sampling prblems. Unusual cmmdities r mineralisatin types (eg submarine ndules) may warrant disclsure f detailed infrmatin. Drill type (eg cre, reverse circulatin, pen-hle hammer, rtary air blast, auger, Bangka, snic, etc) and details (eg cre diameter, triple r standard tube, depth f diamnd tails, face-sampling bit r ther type, whether cre is riented and if s, by what methd, etc). Methd f recrding and assessing cre and chip sample recveries and results assessed. Measures taken t maximise sample recvery and ensure representative nature f the samples. Whether a relatinship exists between sample recvery and grade and whether sample bias may have ccurred due t preferential lss/gain f fine/carse material. Drill Cre Sampling Half cre is sampled n the basis f gelgy. Minimum interval 200mm, maximum interval sampled is 1.5m. The drill cre is cut using an industry standard cre saw. Individual samples are cllected in labelled calic bags. Sample weights are typically between 2kg and 5kg. NQ drill cre is being undertaken by Vital Drilling Services using an Atlas Capc CS Rd lengths are 3m (NM Atlas Capc), with cre run lengths als f 3m. Depth capacity f this drill rig is apprximately 700 metres. Recvery f the cre drilling is excellent (+99%). 1

10 Table 2: Checklist f Assessment and Reprting Criteria 15 th March, 2017 Cre Drilling - Fraser Lake Cmplex - Lynn Lake Prject, Canada. Criteria JORC Cde explanatin Cmmentary Lgging Whether cre and chip samples have been gelgically and getechnically lgged t a level f detail t supprt apprpriate Mineral Resurce estimatin, mining studies and metallurgical studies. Whether lgging is qualitative r quantitative in nature. Cre (r cstean, channel, etc) phtgraphy. The ttal length and percentage f the relevant intersectins lgged. Subsampling techniques and sample preparatin Quality f assay data and labratry tests If cre, whether cut r sawn and whether quarter, half r all cre taken. If nn-cre, whether riffled, tube sampled, rtary split, etc and whether sampled wet r dry. Fr all sample types, the nature, quality and apprpriateness f the sample preparatin technique. Quality cntrl prcedures adpted fr all sub-sampling stages t maximise representivity f samples. Measures taken t ensure that the sampling is representative f the in situ material cllected, including fr instance results fr field duplicate/secnd-half sampling. Whether sample sizes are apprpriate t the grain size f the material being sampled. The nature, quality and apprpriateness f the assaying and labratry prcedures used and whether the technique is cnsidered partial r ttal. Fr gephysical tls, spectrmeters, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and mdel, reading times, calibratins factrs applied and their derivatin, etc. Nature f quality cntrl prcedures adpted (eg standards, blanks, duplicates, external labratry checks) and whether acceptable levels f accuracy (ie lack f bias) and precisin have been established. Cre is gelgically lgged and tested fr magnetic susceptibility & cnductivity. A hand-held XRF (Nitn) is used fr the purpses f assisting with mineral identificatin and metal cntent. Drill cre is cut and typically half cre is taken as a sample fr analysis. Quality cntrl measures include cre duplicates (1/4 cre), CANMET certified reference materials (standards) and silica blanks. Samples are transprted t TSL Labratries in Saskatn fr sample preparatin, including ttal sample crushing and pulverising t 80% passing 75 micrns. Sample analysis is cmpleted by ACME Labratries in Vancuver. Sample security is verseen by Aurra Gesciences persnnel until shipment frm site t the Labratry. Shipment and transprt is verseen by Crazn's Lynn Lake site manager. Once sample preparatin was cmpleted by TSL Labratries, they are transprted t ACME Labratries in Vancuver fr analysis. A multi-element analysis is cmpleted using ICP-MS with a 4 acid digest (30 gram samples). A ttal f 37 elements are tested fr (ACME methd cde AQ525). Bth TSL and ACME are accredited Canadian labratries. A hand-held XRF (Nitn) is used fr the purpses f assisting with mineral identificatin and metal cntent. Brad ranges fr nickel and cpper metal cntents have been stated. These results are indicative nly and by n means truly representative and shuld nt be used fr the purpsed f resurce calculatins. 2

11 Table 2: Checklist f Assessment and Reprting Criteria 15 th March, 2017 Cre Drilling - Fraser Lake Cmplex - Lynn Lake Prject, Canada. Criteria JORC Cde explanatin Cmmentary Verificatin f sampling and assaying The verificatin f significant intersectins by either independent r alternative cmpany persnnel. The use f twinned hles. Dcumentatin f primary data, data entry prcedures, data verificatin, data strage (physical and electrnic) prtcls. Discuss any adjustment t assay data. Drilling is being managed by experienced gelgical persnnel frm Aurra Gesciences and verseen by Crazn s cnsultant and nickel sulphide expert Dr Larry Hulbert. All data is captured electrnically n site and transferred t backup facilities. All paper infrmatin is captured electrnically and stred digitally and in paper frmat. N adjustment t primary assaying has been undertaken. All averaging ver intervals is calculated n an individual interval weighted average basis. Lcatin f data pints Accuracy and quality f surveys used t lcate drill hles (cllar and dwn-hle surveys), trenches, mine wrkings and ther lcatins used in Mineral Resurce estimatin. Specificatin f the grid system used. Quality and adequacy f tpgraphic cntrl. Drill hles were psitined using a hand-held Trimble GEOXH GPS and Reflex Nrthfinder APS. The survey data is recrded in real-wrld grid system NAD 83 Zne 14. Data spacing and distributin Orientatin f data in relatin t gelgical structure Sample security Data spacing fr reprting f Explratin Results. Whether the data spacing and distributin is sufficient t establish the degree f gelgical and grade cntinuity apprpriate fr the Mineral Resurce and Ore Reserve estimatin prcedure(s) and classificatins applied. Whether sample cmpsiting has been applied. Whether the rientatin f sampling achieves unbiased sampling f pssible structures and the extent t which this is knwn, cnsidering the depsit type. If the relatinship between the drilling rientatin and the rientatin f key mineralised structures is cnsidered t have intrduced a sampling bias, this shuld be assessed and reprted if material. Drill hles are widely space and targeted at individual gephysical anmalies. This explratin is recnnaissance in nature and as such will nt result in the immediate definitin f a mineral resurce estimatin. Drill hles are widely space and targeted at individual gephysical anmalies. Azimuths and dips are variable, dependent n the targets being tested. N bias fr the sampling has been established. The measures taken t ensure sample security. Sample security is verseen by Aurra Gesciences persnnel until shipment t the Labratry. Individual samples are cllected in plastic bags, befre being bundled tgether int sealed in large PVC bags and sealed with security tags fr transprt t the 3

12 Table 2: Checklist f Assessment and Reprting Criteria 15 th March, 2017 Cre Drilling - Fraser Lake Cmplex - Lynn Lake Prject, Canada. Criteria JORC Cde explanatin Cmmentary labratry. Shipment and transprt f the samples t TSL Labratries is verseen by Crazn s Lynn Lake site manager. Audits r reviews The results f any audits r reviews f sampling techniques and data. Industry standard duplicate sampling and submissin f certified blank and standard samples have been undertaken. At this stage, n audits r reviews have been cnducted. Sectin 2 Reprting f Explratin Results (Criteria listed in the preceding sectin als apply t this sectin.) Criteria JORC Cde explanatin Cmmentary Mineral tenement and land tenure status Type, reference name/number, lcatin and wnership including agreements r material issues with third parties such as jint ventures, partnerships, verriding ryalties, native title interests, histrical sites, wilderness r natinal park and envirnmental settings. The security f the tenure held at the time f reprting alng with any knwn impediments t btaining a licence t perate in the area. The Fraser Lake Cmplex (FLC) is predminantly cvered in an agreement between Mr Peter Dunlp and Crazn Mining Limited whereby Crazn has the ptin t acquire 100% f the prject by meeting certain cnditins. This agreement was riginally annunced within a Cmpany ASX annuncement dated 18 May 2010, with the mst recent amendments t this agreement presented in a Cmpany ASX annuncement dated 29 July The tenure includes multiple Mineral Claims as defined by the Prvincial Gvernment f Manitba. All claims are currently in gd standing. Crazn Mining wrks clsely with First Natin grups and several gvernment rganizatins respnsible fr mining and the envirnment. Wrk Permits are currently in place fr the FLC and cvers activities such as grund gephysics and land-based drilling. Explratin dne by ther parties Acknwledgment and appraisal f explratin by ther parties. Where explratin has been cmpleted by ther parties, thse parties have been referenced in this dcument r within previus ASX annuncements by the Cmpany. In particular refer t CZN ASX annuncement dated 11 April

13 Table 2: Checklist f Assessment and Reprting Criteria 15 th March, 2017 Cre Drilling - Fraser Lake Cmplex - Lynn Lake Prject, Canada. Criteria JORC Cde explanatin Cmmentary Gelgy Depsit type, gelgical setting and style f mineralisatin. Magmatic nickel-cpper-cbalt sulphide depsits assciated within mafic/ultramafic intrusive rck (gabbr related). Drill hle Infrmatin Data aggregatin methds Relatinship between mineralisati n widths and A summary f all infrmatin material t the understanding f the explratin results including a tabulatin f the fllwing infrmatin fr all Material drill hles: easting and nrthing f the drill hle cllar elevatin r RL (Reduced Level elevatin abve sea level in metres) f the drill hle cllar dip and azimuth f the hle dwn hle length and interceptin depth hle length. If the exclusin f this infrmatin is justified n the basis that the infrmatin is nt Material and this exclusin des nt detract frm the understanding f the reprt, the Cmpetent Persn shuld clearly explain why this is the case. In reprting Explratin Results, weighting averaging techniques, maximum and/r minimum grade truncatins (eg cutting f high grades) and cut-ff grades are usually Material and shuld be stated. Where aggregate intercepts incrprate shrt lengths f high grade results and lnger lengths f lw grade results, the prcedure used fr such aggregatin shuld be stated and sme typical examples f such aggregatins shuld be shwn in detail. The assumptins used fr any reprting f metal equivalent values shuld be clearly stated. These relatinships are particularly imprtant in the reprting f Explratin Results. If the gemetry f the mineralisatin with respect t the drill hle angle is knwn, its nature shuld be reprted. Vlcangenic massive sulphide (VMS) depsits. Zinc dminant +/- lead, cpper, silver and gld. Drill Hle Survey Data Hle_ID East Nrth RL Dip Azim Depth FLC FLC FLC FLC FLC FLC FLC Survey data presented in real-wrld grid system NAD 83 Zne 14 N data aggregatin has been reprted in this annuncement. Typical Lynn Lake Ni-Cu-C Magmatic Sulphide Depsits Knwn nickel-cpper-cbalt magmatic sulphide depsits in the Lynn Lake Mining Centre are typically pipe-like in frm, averaging between 80m and 5

14 Table 2: Checklist f Assessment and Reprting Criteria 15 th March, 2017 Cre Drilling - Fraser Lake Cmplex - Lynn Lake Prject, Canada. Criteria JORC Cde explanatin Cmmentary intercept lengths If it is nt knwn and nly the dwn hle lengths are reprted, there shuld be a clear statement t this effect (eg dwn hle length, true width nt knwn ). Diagrams Apprpriate maps and sectins (with scales) and tabulatins f intercepts shuld be included fr any significant discvery being reprted These shuld include, but nt be limited t a plan view f drill hle cllar lcatins and apprpriate sectinal views. Balanced reprting Where cmprehensive reprting f all Explratin Results is nt practicable, representative reprting f bth lw and high grades and/r widths shuld be practiced t avid misleading reprting f Explratin Results. 120m in strike, 30m t 60m in width and with vertical extents f 100 s f metres. The histrically mined depsits in the Lynn Lake area have been develped t a maximum depth f apprximately 1,100 metres. Multiple sulphide pipe-like depsits have been identified and mined in the Lynn Lake area. Apprpriate diagrams have been included in the annuncement. This reprt tables early findings with respect t cre drilling currently being undertake within the FLC at Lynn Lake. Other substantive explratin data Other explratin data, if meaningful and material, shuld be reprted including (but nt limited t): gelgical bservatins; gephysical survey results; gechemical survey results; bulk samples size and methd f treatment; metallurgical test results; bulk density, grundwater, getechnical and rck characteristics; ptential deleterius r cntaminating substances. Further wrk The nature and scale f planned further wrk (eg tests fr lateral extensins r depth extensins r large-scale steput drilling). Diagrams clearly highlighting the areas f pssible extensins, including the main gelgical interpretatins and future drilling areas, prvided this infrmatin is nt cmmercially sensitive. The annuncement cntains results f current and past explratin prgrams including surface sampling, drilling, gephysics and gelgical mapping. Infrmatin regarding this wrk has been referenced in this dcument r within previus ASX annuncements by the Cmpany. Phase II Drilling at the FLC cmmence in March, Grund gephysics is currently underway n the Prject. This wrk will refine drill targets and test new areas. 6