Carrara Range Project Group Annual Report GR601 for the period 1 July 2023 to 30 June 2024 EL 32577, EL 32620 and EL 32622

Abstract

This report is the group technical summary of work carried out by Resolution Minerals Ltd (RML, Resolution, or the Company) on the Carrara Range Project (Carrara Range or the Project) during the annual period from 1 July 2023 to 30 June 2024 (the Reporting Period). This group report includes EL 32577, EL 32620 and EL 32622. As a result of exploration conducted by RML between 2002 and 2023, RML believes the Carrara Range Project has the potential for economic sedimentary basin hosted base metals, manganese and iron ore mineralisation. During the Reporting Period the following activities were completed by RML: Helicopter-assisted mapping and geochemical rock chip sampling program (24 samples) targeting the Plain Creek Formation; Multi-element analysis and geochemical review (24 samples); Critical Independent Review (CIR) of the Project. Results of the mapping program confirms visible manganese mineralisation associated with the Plain Creek Formation of the Palaeoproterozoic-aged McNamara Gorup. Assay results of the subsequent 24 rock chip sample program confirms grades of manganese oxide ranging from 0.1% MnO to peak values of 41.1% MnO and 40.0% MnO. The results of the CIR conducted by Riviere Minerals Pty Ltd (Riviere) of the Project made the following conclusions: Mn mineralisation at the Project is analogous to the Bootu Manganese Deposit (near Tennant Creek, in the Northern Territory). A JORC (2012) combined resource and reserve of 12.5Mt at 21% Mn with a 15% Mn cut-off for the Bootu Manganese Deposit was published by OM Manganese Ltd (ASX announcement 24 April 2013); The Project area is prospective for Sedimentary Exhalative (SEDEX) and Unconformity-related Uranium mineralisation. The CIR recommended a revised Exploration Model for the Project; that exploration by RML should broaden the focus to include SEDEX and Unconformity-related Uranium mineralisation and not solely for Bootu-type Mn mineralisation because the upside potential for the former is far greater than for the latter. RML is keen to progress exploration for SEDEX and Unconformity-related Uranium mineralisation in the coming report period.