Annual Technical Report for the Reporting Period Ending 29 (sic 30) November 2020 - 28 (sic 29) November 2021

Abstract

Ripple Resources ownership was transferred in full to Auburn Resources Ltd. from Armour Energy Ltd. during the reporting period. Armour has been exploring the gas and oil resources of the McArthur Basin. Ripple had selected Exploration Licences within areas inside the Armour Energy permits, and has been cooperating with Armour in order to evaluate these EL's for their base metal potential. Most of Ripples' Exploration Licences were surrendered during 2017, and only ELs 30494, 30810 and 31012 remain within the Barney Creek project. These EL's were retained because of the potential for shallower mineralisation, not requiring the style of program originally planned by Ripple. Work during the current reporting period was limited to high level desktop studies during the asset assessment and sale process. Planned litho-structural geological interpretation combined with magnetic forward modelling was not completed as proposed.