Mineral Resources

All Mineral Resources as reported at a cut-off grade of 0.05% WO3

Mulgine Trench (Mt Mulgine) JORC 2012 Compliant1

Classification Mt WO3
(%)
WO3
(Kt)
Mo
(ppm)
Mo
(Kt)
Au
(g/t)
Au
(KOz)
Ag
(g/t)
Ag
(MOz)
Cu
(%)
Cu
(Kt)
Measured
Indicated 175 0.11 190 290 51 0.14 770 6 32 0.04 69
Inferred 72 0.11 80 250 18 0.10 230 5 12 0.03 24
Total 247 0.11 270 280 69 0.13 1,000 6 44 0.04 92

Mulgine Hill (Mt Mulgine) JORC 2012 Compliant2

Classification Mt WO3
(%)
WO3
(Kt)
Mo
(ppm)
Mo
(Kt)
Au
(g/t)
Au
(KOz)
Ag
(g/t)
Ag
(MOz)
Cu
(%)
Cu
(Kt)
Measured
Indicated 8.3 0.18 15 128 1.1
Inferred 4.0 0.12 4.8 118 0.5
Total 12.3 0.16 20 125 1.5

Mt Mulgine (Total)

Classification Mt WO3
(%)
WO3
(Kt)
Mo
(ppm)
Mo
(Kt)
Au
(g/t)
Au
(KOz)
Ag
(g/t)
Ag
(MOz)
Cu
(%)
Cu
(Kt)
Measured
Indicated 183 0.11 205 290 52 0.13 770 5 32 0.04 69
Inferred 76 0.11 85 240 18 0.09 230 5 12 0.03 24
Total 259 0.11 290 270 71 0.12 1,000 5 44 0.03 92

Watershed (North Queensland) JORC 2012 Compliant3

Classification Mt WO3
(%)
WO3
(Kt)
Mo
(ppm)
Mo
(Kt)
Au
(g/t)
Au
(KOz)
Ag
(g/t)
Ag
(MOz)
Cu
(%)
Cu
(Kt)
Measured 9.5 0.16 15
Indicated 28.4 0.14 40
Inferred 11.5 0.15 17
Total 49.3 0.14 70

Big Hill (Pilbara) JORC 2012 Compliant4

Classification Mt WO3
(%)
WO3
(Kt)
Mo
(ppm)
Mo
(Kt)
Au
(g/t)
Au
(KOz)
Ag
(g/t)
Ag
(MOz)
Cu
(%)
Cu
(Kt)
Measured
Indicated 15.8 0.11 17
Inferred 22.7 0.09 19
Total 38.5 0.09 36

Kilba (Ashburton) JORC 2012 Compliant5

Classification Mt WO3
(%)
WO3
(Kt)
Mo
(ppm)
Mo
(Kt)
Au
(g/t)
Au
(KOz)
Ag
(g/t)
Ag
(MOz)
Cu
(%)
Cu
(Kt)
Measured
Indicated 5.7 0.20 11.5
Inferred 1.5 0.15 2.2
Total 7.2 0.19 13.7

Total Resource Inventory

Classification Mt WO3
(%)
WO3
(Kt)
Mo
(ppm)
Mo
(Kt)
Au
(g/t)
Au
(KOz)
Ag
(g/t)
Ag
(MOz)
Cu
(%)
Cu
(Kt)
Measured 9.5 0.16 15
Indicated 233 0.12 273 220 52 0.10 770 4 32 0.03 69
Inferred 111 0.11 124 160 18 0.06 230 3 12 0.02 24
Total 354 0.12 410 200 71 0.09 1,000 4 44 0.03 92

Note: Totals may differ from sum of individual numbers as numbers have been rounded in accordance with the Australian JORC code 2012 guidance on Mineral Resource reporting.
1. Refer ASX (Tungsten Mining) Announcement 4 May 2020, “Mineral Resource Estimate Update for Mulgine Trench Deposit”
2. Refer ASX (Tungsten Mining) Announcement 12 April 2019, “Update on Activities at Mt Mulgine”
3. Refer ASX (Vital Metals) Announcement 4 July 2018, “Watershed Mineral Resources Restatement JORC Code (2012)”
4. Refer ASX (Tungsten Mining) Announcement 23 June 2016, “Big Hill June 2016 Mineral Resource Update”
5. Refer ASX (Tungsten Mining) Announcement 30 January 2015, “Kilba Mineral Resource Update”