2 Nvember 2016 MAJOR 40,000m GOLD EXPLORATION DRILLING PROGRAM COMMENCES Highlights A majr explratin drilling prgram has cmmenced n the Tampia Gld Prject t scpe the extent f the knwn gld resurce thrugh infill and extensin drilling, as well as testing the significant ptential f new reginal znes f mineralisatin. The prgram is expected t ttal apprximately 40,000m f reverse circulatin (RC) drilling and take apprximately five mnths t cmplete. The sequence in which hles are drilled will be determined by results which will be published n a regular basis. Explaurum has nly drilled a ttal f apprximately 7,500m f RC and diamnd drill hles during 2015/2016, s this majr drilling campaign is expected t clearly establish the true ptential f the Tampia Gld Prject. The main aims f the drilling prgram are: Establish the limits f gld mineralisatin in the current resurce area, which remains pen in all directins as well as at depth. Cnfirm cntinuity f gld mineralisatin within the resurce area thrugh grid based infill drilling. Cnfirm the gelgical interpretatin f the resurce area. Test the significant ptential f new mineralised znes recently discvered that are assciated with gravity anmalies t the west and nrth f the current resurce and ther targets alng the mineralised trend. Estimate a new Tampia resurce based n this drilling prgram (as well as previus drilling) by mid-2017 which will frm the basis f the Feasibility Study t be cmpleted during 2H 2017. Cmmenting Jhn Lawtn, Managing Directr: As a result f the recent strng funding supprt frm sharehlders, Explaurum has been able t cmmence a majr drilling prgram t define the extent f the gld systems at the Cmpany s exciting Tampia Gld Prject, which is pen in all directins and at depth. The prgram has tw key bjectives: t significantly increase and upgrade the current resurce by mid-2017 as the basis f the Feasibility Study t be cmpleted in 2H 2017, and at the same time, undertake detailed explratin f new targets up t 3 kilmetres frm the current resurce t realise Registered Office: Level 16, Waterfrnt Place, 1 Eagle Street, Brisbane QLD 4000 Pstal Address: GPO Bx 3249, Brisbane QLD 4001 Cntact Details: Telephne +61 7 3333 2722 Email: inf@explaurum.cm www.explaurum.cm
the true size ptential f the prject. We already knw the mineralised hst culd be three times larger than previusly understd which indicates the ptential f this prject. The drilling prgram will be cmplemented with gechemical surveys, infill grund and airbrne gravity surveys and 3D mdelling t assist with the siting f drill targets. The prgram is estimated t ttal apprximately 40,000m with sme 12,500m drilled in the first phase prir t the end f Q4 2016, and the remainder predminantly during Q1 2017. All explratin results will be published n a regular basis. Tampia Gld Prject Explratin and Develpment Explaurum Limited (EXU:ASX) ( Explaurum r the Cmpany ) is pleased t annunce that it has cmmenced the next phase f explratin reverse circulatin (RC) drilling at the Cmpany s Tampia Gld Prject in Western Australia. The main aims f the drilling prgram are: T cnfirm the gelgical/structural interpretatin f the main mafic gneiss and establish the bundaries f mineralisatin within the resurce area t cnstrain the planned resurce drill ut. The main mafic gneiss hsting the current resurce cvers an area exceeding 1000m x 600m and is estimated t be apprximately 300m thick. Recent gravity mdelling indicates the main mafic gneiss culd be three times larger than previusly understd. T cnfirm cntinuity f mineralisatin within the resurce area where there are numerus gaps in previus drilling, t assist in planning the resurce infill drilling prgram (estimated t cmmence early in the New Year). Test rientatin and cntinuity f newly discvered mineralisatin apprximately 500m t the nrth and west f the main mafic gneiss. Test the gelgy and mineralisatin ptential f the western fault. The Q4 drill prgram will be cmpleted in tw stages s that results frm the first stage drilling can be reviewed befre fllw up drilling is undertaken. It is highly likely that the lcatin and depths f the secnd stage drilling will be mdified due t the results frm the first stage drill hles. A ttal f 54 hles fr a ttal f 12,490m has been planned fr the drilling prgram t be cmpleted prir t the end f Q4 2016 (Figure 1 and Figure 2). The priritisatin and timing f drilling individual hles takes accunt f the pririty f the target, data requirements fr planned fllw up hles, depth f hle and farming activities, with hles in the areas under crp planned late in the prgram t give time fr harvesting t be cmpleted. The fllw up prgram f drilling will cntinue frm the first phase f drilling and will be based n the results frm this phase, particularly the lcatin f the mafic cntacts and rientatin f the new mineralisatin t the west and nrth. If significant new znes f high grade mineralisatin are intersected planned hles may be re-priritised, hle lcatins changed and, r, the prgram expanded. The results frm this rund f drilling will then be used t finalise resurce infill drill planning t upgrade the current resurce t at least Indicated status. This resurce infill drilling prgram is expected t start early in Q1 2017. 2
Fr further infrmatin cntact: Jhn Lawtn Managing Directr Explaurum Limited +61 7 3333 2722 Abut Explaurum Limited and backgrund t the Tampia Gld Prject Explaurum s key asset is the 90% interest in the Tampia Gld Prject, lcated apprximately 300km east f Perth in the wheat belt f Western Australia. A 2012 JORC Inferred resurce f 4.7 millin tnnes (MT) grading 2.0g/t Au (cut) r 2.5g/t Au (uncut) cntaining 310,000 380,000 unces f gld, including 1.6 MT at 3.4 g/t Au (cut) r 4.6g/t Au (uncut) cntaining 170,000 237,000 unces gld annunced in April 2015 (Table 1). BHP Minerals ( BHP ) discvered gld mineralisatin at Tampia in 1987 frm fllw up f a reginal BLEG stream sampling prgram. BHP and subsequent wners in the 1990s established the fllwing features f the mineralisatin: Gld mineralisatin is high grade and near surface The resurce was well drilled in part t mstly shallw depth, but pen in all directins and at depth The resurce area has significant gaps in drilling. If infill drilling is successful, an increase in resurces is anticipated There is significant ptential fr further discveries within 10km radius with a number f strng gechemical and auger/rab anmalies Tampia is lcated n private land clse t sealed rads, pwer, water, accmmdatin, services and labur Tampia is lcated 135km by rad frm Westnia and abut 185km by rad frm Suthern Crss and Marvel Lch. Ntable histric drill intercepts include: GR028 17m at 27.5g/t Au frm 8m including 4m at 108.9g/t Au frm 9m; NRC4 11m at 28.1g/t Au frm 21m including 5m at 57.7g/t Au frm 25m; GDH01 9m at 18.3g/t Au frm 19m including 1m at 55.5g/t Au frm 23m and 2m at 43.5g/t Au frm 25m and a deeper intercept f 11m at 10.1g/t Au frm 50m including 2m at 41.9g/t Au frm 50m; GR001 25m at 11.0g/t Au frm 0m t the end f the hle including 8m at 29.3g/t Au rm 14m; GR003 25m at 10.1g/t Au frm 0m t the end f the hle including 3m at 52.7g/t Au frm 19m; NRC41 5m at 34.9g/t Au frm 79m including 1m at 165g/t Au frm 79m; GDH09 29m at 5.9g/t Au frm 35m including 1m at 154g/t Au frm 59m; NRC16 4m at 19.2g/t Au frm 33m and 6m at 16.1g/t Au frm 45m including 1m at 64.0g/t Au frm 49m; GR026 9m at 16.5g/t Au frm 16m including 4m at 32.5g/t Au frm 19m; GR411 31m at 3.9g/t Au frm 64m; 3
NRC6 13m at 7.6g/t Au frm 59m including 2m at 24.8g/t Au frm 67m; and NRC15 18m at 5.3g/t Au frm 67m. In 2014 and early 2015, the Cmpany cmpleted 10 diamnd drill hles (ttalling 481.3m), with six hles targeting knwn mineralisatin in the vicinity f the Gault resurce. A further 7 diamnd drill hles were cmpleted in July 2015 (ttalling 766.5m), and 45 RC drill hles (ttalling 2798m) were cmpleted in December 2015 predminantly within the tll treatment pit r starter pit area. All results frm these prgrams have been fully reprted and available at www.explaurum.cm. Table 1: JORC 2012 Inferred Mineral Resurce (gld), Gault Prspect, Tampia Prject Cut ff Tnnes Au (cut) Cntained gld Au (uncut) g/t Au (,000) g/t Au Ounces g/t Au 0.7 7,100 1.6 370,000 2.0 1.0 4,700 2.0 310,000 2.5 2.0 1,600 3.4 170,000 4.6 Ntes: i) apprx. 90% f the resurce (at 0.7g/t) is less than 100m depth (73% shallwer than 80m) ii) xide Resurces are nt significant at abut 15,000 unces at a 0.7g/t cut ff. 4
Figure 1. Drill plan f prpsed explratin RC hles in relatin t target areas, tpgraphic features and farm infrastructure. Red cllars are high pririty first phase drilling and black cllars are secnd phase drilling. 5
Figure 2. Drill plan f prpsed explratin RC hles in relatin t target areas, gelgy and majr structures. Red cllars are first phase drilling and black cllars are secnd phase drilling. 6
Figure 3. Tampia drilling prgram drill crew setting up ver first drill hle Figure 4. Tampia drilling prgram in prgress 7