Benmara Project EL 32229 Murphy Annual Technical Report For The Period 15 September 2021 to 14 September 2022

Abstract

This report is a technical summary of all the work carried out by Resolution Minerals Ltd (RML) tenement EL 32229 (Murphy) during the reporting period 15/09/2021 - 14/09/2022. EL 32229 is one of the tenements which comprises RML's Benmara Project in the northeast of the Northern Territory, around 320km NE of Tennent Creek. The Benmara Project comprises the western end of the exposed east-west-trending Murphy Tectonic Ridge ('Inlier'), which marks the south eastern margin of the McArthur Basin and northern edge of the time-equivalent South Nicholson Basin. Most of the previous exploration in the tenement area has focussed on diamonds and uranium, with less work concentrating on gold and base metals until more recently. RML's focus at Benmara is on Base Metals, Uranium and Gold. During the reporting period the tenement was held by both Cedar Resources Pty Ltd and Resolution Minerals Ltd. The following was undertaken: Desktop reviews of historic reports and data, initial project reconnaissance & merging of open source geophysical data. During the reporting period, Xavier Resources a subsidiary of Resolution Minerals exercised the option to purchase EL 32229 from Cedar Resources Pty Ltd under the terms of the binding term sheet dated 26 September 2021 and a Letter Agreement Amendment dated 6 May 2022 resulting in Xavier Resources becoming the beneficial owner and registered holder of a 100% unencumbered interest in the EL 32229. During the reporting period, Resolution commenced exploration on permit EL 32229 to substantiate the area's prospectivity with an initial project reconnaissance field trip, desktop reviews of historic reports and data and merging of open source geophysical data. This preliminary work on adjacent tenement EL 32228 supports the potential for sedimentary hosted base metal mineralisation deposition within the project area. The evidence includes: prospective-aged package of reduced sediments with TOC content in the order of 1-3%, petrographic evidence for significant diagenesis and alteration, geochemical vectors including elevated Tl, favourable basin margin position & proximity to the intersection of regional scale structures, which are demonstrated conduits for base metal mineralisation along strike. The combination of these geological ingredients, make this a standout greenfield exploration project with an unconstrained search space.