Year 2 Reduction Report Exploration Licence EL 32041 for the reporting period 4th October 2019 to 3rd October 2021

Abstract

Exploration License EL 32041 is located approximately 60kms south of Darwin and is wholly owned by Aldebaran Pty Ltd. This report covers exploration activities on this tenement during the first year of tenure. During the year 1 a geological review of the historical data and prospectivity was undertaken. Also a total of five RAB holes for 122m were drilled in the southern part of the tenement to investigate depth of weathering in sandstones. Average depth was 24m, holes were not logged or assayed at this stage. During the year 2 a geological review of the historical data and prospectivity was undertaken. Reconnaissance trips included a visit by a consultant geologist. Exploration potential exists for Rare Earth Elements (REE), gold, poly-metallic base metals and uranium. The different commodities have very similar deposit styles/models in the Rum Jungle Field, with anticlinal hinges, shears, breccias and veins all being possible hosts. Aldebaran is investigating the potential of these targets as well as researching new possibilities including high purity silica. The relinquished blocks are under mining and extractive licences.