Amended Announcement - Mt Boppy Exploration Update

Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 tel +612 7253 2020 www.manukaresources.com.au

ASX Announcement
11 May 2026

ASX: MKR




Amended Announcement –
MT Boppy Gold Project Exploration Update

Manuka Resources Limited (ASX: MKR, NZX: MKR) (the Company) refers to the announcement released
on 28 April 2026 titled “Mt Boppy Gold Project Exploration Update” (Original Announcement).

The Company confirms this Amended Announcement replaces the Original Announcement. The Amended
Announcement has been prepared to ensure compliance with ASX Listing Rules 5.7 and 5.22.

The Amended Announcement includes:

• all material information required to be disclosed under Listing Rule 5.7 in respect of the reported
exploration results of the RC collard diamond holes;

• the information and context required under Listing Rule 5.22; being the relevant Competent Person
consents.

The Company provides the following additional clarifications:

Drilling Methodology
Drilling is a combination of Reverse Circulation (RC) pre-pilot following by diamond drilling extensions/deepening
in selected holes.

Table A1.1 has been updated to clarify the drilling methods used.

Reference to pXRF Analysis, Drill Intercepts and Figure Annotations
The ASX requested clarification regarding references to 46 g/t Ag reported as pXRF analysis on Page 1, bullet
point 3, and whether this constitutes a drill intercept requiring reporting in accordance with Clause 19 of the JORC
Code (2012). The ASX also requested clarification of related figures and legend information.

The Company clarifies the reported 46g/t AG is derived from PhotonAssay analysis over the downhole interval
311.20-312.00m and not from portable XRF (pXRF) analysis.

The reference in the original disclosure has been updated accordingly.

Reported Intercepts and Figure References (Figures A1.3, A1.4 and A1.5)
The ASX queried Figures A1.3 (MSD001), A1.4 (MSD004) and A1.5 (MSDD005), which display elevated assay
values.

The Competent Person advises these intersections are not considered significant mineralised intercepts for the
purposes of reporting under the JORC Code (2012) and are therefore not reported as mineralised drill intercepts
in the context of economic or exploration significance.

Accordingly, intersections exceeding 0.1 g/t Au (PhotonAssay) have been tabulated and are included in Table 1
of the Amended Announcement for completeness.

The figures have been updated to ensure consistency of presentation and reporting context.

Figure Legends and Data Presentation
The Company clarifies the figure legends and colour formatting have been updated to improve clarity and
interpretation of the numerical values presented.

Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 tel +612 7253 2020 www.manukaresources.com.au

Requirement of Cautionary Statement in relation to pXRF Disclosure
The ASX requested whether a JORC Code (2012) Clause 17 cautionary statement is required in relation to
references in the announcement to pXRF-derived assay results.

The Company clarifies the reference in the Original Announcement to pXRF analysis was incorrect.

The grade in question was derived from PhotonAssay analysis of a sampled downhole interval 311.20-312.00m.
Accordingly, the basis for a pXRF-specific cautionary statement does not apply.

The Company notes that appropriate JORC Code (2012) Clause 17 cautionary statements have been included
in relation to Exploration Targets and Exploration Results where applicable.

Cross Referencing
The ASX requested clarification regarding cross-referencing of exploration results and supporting disclosure
within Figure 3, A1.1, A2.1 and Table 1.

The Company clarifies that Figure 3 has been updated to present historical exploration results solely in the context
of locality of shafts and historical drill collars.

Historic exploration intercepts will only be reported in accordance with Listing Rule 5.23.1 and the JORC Code
(2012) when the Company undertakes further drilling programs and reports new exploration results.

Figures A1.1 and A2.1 have been updated to include appropriate cross-references to Table 1 in accordance with
Listing Rule 5.23.1.

Table 1 has been updated to reflect current exploration data from Mt Boppy and Pipeline Ridge. Sections relating
to criteria under JORC Table 1 have been revised to reflect the new exploration results disclosed in the Amended
Announcement.

Where historical exploration data has been included, it is clearly identified as historical and is presented separately
from new exploration results.

Retractions and Corrections
The ASX requested clarification regarding the status of certain disclosures included in the Original Announcement.

• Drillhole PMS129
The reference to drillhole PMS129 has been removed. The Company clarifies this hole is not material to any
current Mineral Resource estimation or mining study and has therefore been excluded from the updated
disclosure.

• Exploration Target Reference (~30–40koz)
The previous reference to “initial exploration targets of ~30–40koz of shallow mineralisation” has been
removed to ensure alignment with the current Exploration Target framework and disclosure requirements
under Listing Rule 5.7 and JORC Code (2012) Clause 17.

The updated disclosure now focuses on the current Exploration Target relating to drilling to approximately
60m depth, consistent with the current exploration program.

• Table 1
Table 1 was not intentionally retracted. The omission has been corrected in the Amended Announcement to
ensure completeness and alignment with updated exploration data and reporting structure.

• Table 1 – JORC Reporting Structure
Table 1 has been updated to include additional drill hole assay data derived from recent exploration activities.
The results include low-grade and sporadic intercepts, which are presented for completeness and contextual
geological interpretation rather than as material mineralised intercepts.

Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 tel +612 7253 2020 www.manukaresources.com.au
The updated Table 1 has been structured to reflect current exploration activities and results, with previous
planning or conceptual information removed or repositioned where appropriate to ensure alignment with Listing
Rule 5.7 reporting requirements and JORC Code (2012) Table 1 disclosure principles.

Exploration Target Disclosure and JORC Clause 17
The Exploration Target disclosed on Page 4 has been updated to include:

• appropriate Listing Rule 5.23.1 cross-referencing;

• JORC Code (2012) Clause 17 cautionary statement; and

• supporting explanation of estimation methodology.

Supporting information and tabulated data have been included in Annexure 2.

Reference to 10-Year Production Plan and Listing Rule 5.19.2
The reference to a “10-year production plan” is derived from the Project Production Target previously disclosed
in Table 1 of the announcements dated 30 May 2025 titled “Cobar Basin Production Plan” and 23 March 2026
titled “Amended Announcement – Updated Cobar Basin PFS”.

The Project Production target has been prepared in accordance with Listing Rules 5.16-5.19 and the JORC Code
(2012).

The material assumptions underpinning the Production Target, as required under Listing Rule 5.19.2 include
mining and processing rates, metallurgical recovery assumptions, cut-off grades, commodity price assumptions,
operating and capital cost estimates and production scheduling. The assumptions and information were set out
in the 30 May 2025 announcement.

The 10-year production plan represents an illustrative production schedule derived from the previously disclosed
Production Target and does not introduce any additional or new assumptions.

Listing Rule 5.19.1 Cross Reference
The Company confirms the cross-references to the 30 May 2025, and 23 March 2026 Announcements remain
current and continue to provide the basis for the material assumptions supporting the Project Production Target,
consistent with the requirements of Listing Rule 5.19.1.

Listing Rules 5.19.3 and 5.19.4 (Inferred Mineral Resources)
The Company confirms the Inferred Mineral Resources have been included in the estimation of the Project
Production Target. The proportion of Inferred Mineral Resources used is 38% and appropriate cautionary
statements in accordance with the JORC Code (2012) and Listing Rule 5.19.4 have been previously disclosed in
the 30 May 2025 and 23 March 2026 announcements.

Competent Person Statement (Listing Rule 5.22)
The Competent Person Statement has been updated to include Exploration Results from Mr Boppy and Pipeline
Ridge, in accordance with Listing Rule 5.22.

Closing Confirmation
The underlying exploration results and technical conclusions have not materially changed from those disclosed
in the Original Announcement. The additional information has been included to provide the context and detail
required under the ASX Listing Rules and JORC Code.

The Amended Announcement should be read in full, including the Competent Person statement and
accompanying disclosures.

Authorised for release to the ASX by Manuka Resources Limited Executive Chairman.

Dennis Karp
Executive Chairman

Tel. +61 2 7253 2020

ASX Announcement
11 May 2026

ASX: MKR


Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 Tel 02 7253 2020 www.manukaresources.com.au
Amended Announcement –
MT BOPPY GOLD PROJECT EXPLORATION UPDATE

Highlights
• Three RC collared diamond holes targeting depth and strike extension zones of
Mt Boppy-style mineralisation completed
• Results returned localised low-grade gold intersections, consistent with early-
stage testing,
• Sulphide mineralisation intersected, including in MSD001 at 311.20-312.00m
visible pyrite-sphalerite-galena which yielded a photon silver assay of 46g/t Ag¹
• The gold assays received and any ensuing intersections are currently deemed
non-material to a mining project in terms of Listing Rule 5.7 due to none being of
economic value.
• Structural interpretation has refined targeting for follow-up drilling
• Pipeline Ridge gold resource definition drilling now commenced
• Exploration supports future gold growth alongside near-term production restart

Manuka Resources Limited (“Manuka” or the “Company”) confirms that the initial phase of
exploration diamond drilling at its Mt Boppy gold project (as outlined on 6 November 2025), has
been completed. Final pXRF multi element analyses and structural modelling are in progress.

Mt Boppy has historically produced ~500,000oz Au at an average grade of ~15g/t Au from a
combination of early underground mining (circa 1900-1950’s) and more recent open pit
operations (1995-2021). The current programme comprised three diamond drill holes targeting
potential depth and strike extensions of known mineralisation.

While results returned localised low-grade gold intersections, the programme has delivered
important geological and structural insights, improving the Company’s understanding of
structural controls and refining targeting for future work.
Executive Chairman Dennis Karp said:

“We acquired Mt Boppy in 2019 and until now, have not had the opportunity to test the
depth and strike extensions of the existing gold system. These are the first deeper drill
holes completed since acquisition and represent an important step in advancing our
understanding of the broader deposit.

While these were early-stage scout holes, they have provided valuable structural insights
and helped refine our targeting. The results are already directing our focus toward priority
zones to the south-east of the current pit for follow-up drilling.

Importantly, this work is being undertaken alongside our near-term production restart,
with the focus firmly on delivering first production later this quarter, followed by growing
gold and, subsequently, silver contributions over time. Our confidence remains that Mt
Boppy sits within a larger mineralised system consistent with the Cobar Basin.”

Page | 2

Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 Tel 02 7253 2020 www.manukaresources.com.au
Mt Boppy Drilling Programme
Exploration Results to date (Figures 1-8)


Figure 1: General locality of drilling targets

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Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 Tel 02 7253 2020 www.manukaresources.com.au

Figure 2: Locality of three RC precollar / diamond holes
The initial three-hole diamond drill holes (MSDD001, 004, 005) were designed to target potential
southern strike and depth extensions of the Mt Boppy gold mineralisation at depths of approximately
300–500 metres.
The drill holes were located between 300m and 1,000m to the south of the current Mt Boppy open
pit (Figure 2), targeting mineralised zones up to 200-300m in strike length and up to 30m wide.
Key outcomes from the programme include:
- Limited development of Boppy style brecciated zones within the tested areas;
- The extension of strongly mineralised quartz breccia mineralisation at the southern end of
the current open pit has been truncated by a NW-SE structure that may have continuity to
the Boppy South gold deposit;
- The western bounding fault is now interpreted to have been reactivated and truncates/
displaces the main Mt Boppy gold orebody on the west side;

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Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 Tel 02 7253 2020 www.manukaresources.com.au
While no significant high-grade gold zones were intersected in this phase, the programme has
materially improved geological understanding and targeting confidence for subsequent drilling.

Pipeline Ridge Gold Project² ³ – Resource Definition Drilling
Resource definition drilling at the Pipeline Ridge gold project commenced on 24 April 2026,
targeting shallow oxide gold mineralisation suitable for open pit extraction.
The Pipeline Ridge project is located approximately 28km south of the Mt Boppy gold mine
within the Company’s broader Cobar Basin footprint.
• ~3,075m RC drilling programme (to ~60m depth) underway
• Exploration target down to 58m: 187kt–365kt @ 1.1–1.5g/t Au.
Estimated from preliminary interpretation and modelling of existing drilling (see Annexure 2 and
Annexure 3: Table 1, Section 2, borehole information) and between cutoff grades of 0.6 and 0.8 g/t Au.
The Exploration Target, including the potential quantity and grade is conceptual in nature. There has
been insufficient exploration completed to estimate a Mineral Resource in accordance with the JORC
Code (2012) and the Exploration Target is not yet fully constrained by drilling information. It is uncertain
if further exploration will result in the estimation of a Mineral Resource.
• Objective to deliver a maiden gold resource in 2026
Pipeline Ridge represents a near-term opportunity to supplement gold feed into the Wonawinta
processing plant.
Future work
The exploration programme will continue with the following priority activities:
1 Ongoing Pipeline Ridge RC drilling – targeting shallow open pit gold mineralisation.
2 Mt Boppy Exploration depth and strike extension drilling is being planned to test shallow (0-
150m) deep satellite deposits including historic shafts and workings (Figure 3).
Strategic Context
While Manuka’s immediate focus remains the restart of silver production at its Wonawinta
processing plant in Q2 2026, the current exploration programmes are directed towards building
out a broader Cobar Basin production platform.
The Company’s strategy is underpinned by a 10-year production plan, centred on the
Wonawinta processing facility and incorporating multiple gold and silver feed sources across its
regional asset base. This approach is focused on:
• increasing near-term gold feed into the plant
• extending mine life beyond the current plan
• identifying additional satellite deposits within trucking distance
Over time, this positions Manuka to transition from a single-asset restart to a multi-source
production system, supporting sustained production and cash flow growth.
1,2


2
ASX Release 6 Nov 2025
3
ASX Release 16 Dec 2025

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Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 Tel 02 7253 2020 www.manukaresources.com.au


Figure 3: Mt Boppy-Canbelego satellite shafts and prospects

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Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 Tel 02 7253 2020 www.manukaresources.com.au
Production Timetable and Milestones

Manuka continues to progress through the final execution phase toward first production, with
key milestones outlined below:

Completed
✅ Refinancing secured
✅ All major approvals in place and in good standing
✅ Care & maintenance phase completed
✅ Key on-site management team and workforce secured
✅ Processing equipment upgrades (deslime / dewatering circuit) ordered
✅ Gold ore haulage from Mt Boppy underway
June 2026
quarter
Reserve upgrade and revised mine-plan at Wonawinta (May 2026)
ROM gold material stockpile continues to build at Wonawinta
Commissioning and ramp-up of silver and gold-bearing ROM stockpiles
First gold processing commences (May/June)
Sept 2026
quarter
☐ Plant upgrade and refurbishment to production-ready state
☐ First silver production and sales
☐ Commencement of mining silver ores
☐ Ramp-up to nameplate production
☐ Steady state production and cash flow generation

This announcement has been approved for release by the Board of Directors of Manuka
Resources Limited


For further information contact:

Dennis Karp
Executive Chairman
Manuka Resources Limited
Tel. 02 7253 2020
admin@manukaresources.com.au

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Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 Tel 02 7253 2020 www.manukaresources.com.au
Compliance Statements
The information in this announcement that relates to previously reported Exploration Results, Exploration
Targets, Mineral Resources, Ore Reserves, Production Targets and Financial Forecasts is extracted from
the Company’s ASX announcements and are available to view on the Company’s website. The Company
confirms that in the case of estimates of Mineral Resources and Ore Reserves, that all material
assumptions and technical parameters underpinning the estimates in the relevant announcement
continue to apply and have not materially changed. The Company confirms that the form and context in
which the Competent Person’s findings are presented have not been materially altered.

Important Information
This report includes forward-looking statements and comments about future events, including the
Company’s expectations about the performance of its businesses. Forward-looking words such as
“expect”, “should”, “could”, “may”, “predict”, “plan”, “will”, “believe”, “forecast”, “estimate”, “target” or other
similar expressions are intended to identify forward-looking statements. Such statements involve known
and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond
the control of the Company, and which may cause actual results, performance or achievements to differ
materially from those expressed or implied by such statements. Forward-looking statements are provided
as a general guide only and should not be relied on as an indication or guarantee of future performance.
Given these uncertainties, recipients are cautioned to not place undue reliance on any forward-looking
statement. Subject to any continuing obligations under applicable law, the Company disclaims any
obligation or undertaking to disseminate any updates or revisions to any forward-looking statements in
this report to reflect any change in expectations in relation to any forward-looking statements or any
change in events, conditions or circumstances on which any such statement is based. No Limited Party
or any other person makes any representation or gives any assurance or guarantee that the occurrence
of the events expressed or implied in any forward-looking statements in the report will occur.

Competent Persons Statement

The information in this report that relates to Mt Boppy and Pipeline Ridge exploration drilling, results and
exploration targets is based on, and fairly represents, information and supporting documentation prepared
by Mr Philip Bentley, who is a Certified Professional by The South African Council for Natural Sciences
(SACNASP # 400208/05 ) and is the Chief Geologist employed by Manuka Resources Ltd. Mr Bentley
has sufficient experience which is relevant to the style of mineralisation and type of deposit under
consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in
the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and
Ore Reserves’. Mr Bentley consents to the inclusion in the statement of the matters based on his
information in the form and context in which it appears

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Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 Tel 02 7253 2020 www.manukaresources.com.au
ANNEXURE 1: Mt Boppy diamond drill plans and cross sections (Figures A1.1-A1.5)


Figure A1.1: Locality of Mt Boppy Extension drillholes over historic drilling and interpreted geology

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Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 Tel 02 7253 2020 www.manukaresources.com.au
Table A1:1 Mt Boppy south extensions scout drilling information









Figure A1.2: Mt Boppy Southern extension Phase 1 conceptual drill targets and actual boreholes N-S
section

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Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 Tel 02 7253 2020 www.manukaresources.com.au

Figure A1.3: MSDD001 cross section looking North, showing Photon Assay results for Ag g/t and
Au>0.1g/t
Anomalous Ag 46g/t at 311,2m-312m. Interval rich in pyrite, galena and sphalerite






Figure A1.4: MSDD004 cross section looking North, showing calcium % readings from pXRF, to
help delineate the Limestone lithology contacts.

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Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 Tel 02 7253 2020 www.manukaresources.com.au


Figure A1.5: MSDD005 cross section looking North, showing Photon Assay results for Au>0.1g/t, including
2m @0.55g/t, from 23m to 25m.

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Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 Tel 02 7253 2020 www.manukaresources.com.au
ANNEXURE 2: Pipeline Ridge Gold Project ¹ ² (Figure A2.1)

The Pipeline Ridge prospect is a volcanic massive sulphide (“VMS”) style deposit located
approximately 28km south of Mt Boppy. The prospect historically has attracted a number of
phases of exploration drilling (totalling 6,590m DD; 6,079m RC and 4,832m RAB or Air Core).
Evaluation of the various drilling campaigns (some were for base metals and others gold) has
delineated a structurally controlled zone of shallow gold mineralisation.

Two zones of gold mineralisation (295m & 180m strike) locate within a larger ~1,000m strike
length with intersections occurring down to over 150m depth (Figure A2.1) have been
delineated. The Phase 1 drilling at Pipeline Ridge (Table A2.1) is designed to delineate a
shallow (60m deep) free-milling gold oxide resource for potential open pit extraction, with Phase
2 drilling follow up evaluation of the deeper (60-120m) gold mineralisation.




Figure A2.1 above: (Left) Pipeline Ridge phase 1 drill collars (Blue) with gold intersections in relationship
to north and south oxide open pit target zones. (Right) View looking north showing distribution of deeper
gold mineralisation relative to shallow oxide target zones

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Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 Tel 02 7253 2020 www.manukaresources.com.au
Table A2.1: Planned Pipeline Ridge Phase 1 drilling

Preliminary 3D geological modelling of historic drilling data (see Table 1, Section 2, Borehole information)
has enabled preliminary estimations to support an exploration target for the first phase of drilling. Table
A2:2 shows grade:tonnage estimations down to 58m and at a lower gold cutoff grade of 0.6 g/t Au and a
higher cutoff grade of 0.8 g/t Au. This exercise has demarcated a zone containing between 187kt and
365kt grading between 1.1 and 1.5 g/t Au.

Page | 14

Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 Tel 02 7253 2020 www.manukaresources.com.au
Table A2:2: Exploration target assessment of Pipeline Ridge down to -58m

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Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 Tel 02 7253 2020 www.manukaresources.com.au
ANNEXURE 3 – JORC 2012 TABLE 1
SECTION 1: SAMPLING TECHNIQUES AND DATA
Criteria JORC Code Explanation Commentary
Sampling
techniques
• Nature and quality of sampling (e.g. cut channels, random
chips, or specific specialised industry standard
measurement tools appropriate to the minerals under
investigation, such as downhole gamma sondes, or
handheld XRF instruments, etc.). These examples should
not be taken as limiting the broad meaning of sampling.
• Include reference to measures taken to ensure sample
representivity and the appropriate calibration of any
measurement tools or systems used.
• Aspects of the determination of mineralisation that are
Material to the Public Report.
• In cases where ‘industry standard’ work has been done this
would be relatively simple (e.g. ‘reverse circulation drilling
was used to obtain 1 m samples from which 3 kg was
pulverised to produce a 30 g charge for fire assay’). In
other cases more explanation may be required, such as
where there is coarse gold that has inherent sampling
problems. Unusual commodities or mineralisation types
(e.g. submarine nodules) may warrant disclosure of
detailed
information.
• Diamond Drilling
• A portion of the data used for
exploration and evaluation of the Mt
Boppy and Pipeline Ridge projects has
been gathered from diamond core.
PQ,HQ and NQ core sizes have been
used historically at the Mt Boppy and
Pipeline Ridge prospects. This core is
geologically logged and subsequently
halved for sampling.
• Reverse Circulation (RC) Drilling
- Drill cuttings are extracted on a
one metre basis from the RC
return via cyclone. Representivity
of sampling was achieved from a 2-
bag rotary sampler, which
generates assay and backup
samples simultaneously as 1m is
drilled
• Approximately three kilograms of the
recovered material is bagged into calico
bags for analysis. Sample material is
submitted for gold analysis by either
500g Photon (Exploration assays) or 50g
Fire assay (Mineral Resource
delineation assay). pXRF
measurements are taken on rock chip
material within the Assay sample bag
every metre drilled.
• Residual material may be retained on
the ground near the hole till evaluation
is complete. Composite samples may be
obtained from the residue material for
initial analysis, with the split samples
remaining with the individual residual
piles until required for re-split analysis
or eventual disposal.

Drilling
techniques
• Drill type (e.g. core, reverse circulation, open-hole
hammer, rotary air blast, auger, Bangka, sonic, etc.) and
details (e.g. core diameter, triple or standard tube, depth of
diamond tails, face-sampling bit or other type, whether core
is oriented and if so, by what method, etc.).
• Method of recording and assessing core and chip sample
recoveries and results assessed.
• Measures taken to maximise sample recovery and ensure
representative nature of the samples.
• Diamond Drilling
• Diamond drilling involves the coring of
rock by a rotating diamond bit, which
cuts through rock and emplaces the
core in a variable 1.5-commonly 3m –
6m core barrel located immediately
behind the bit. The core barrel is
retrieved at the discretion of the driller
(e.g. depending on ground conditions)
or when it is full. The core can be
marked to provide orientation data of
bedding or structures etc. Double barrel
and triple tube (in difficult ground to
protect washout of core) core barrels
are used for diamond drilling.
• RC Drilling
• Down hole rock cuttings are generated
by a down-the-hole (DTH) rotating
hammer bit, which breaks and
pulverises the rock, which under high air
pressure is passed up the inner tube and
extracted from the RC return via
cyclone. Normally material is sampled
on a 1 metre basis (see above).

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Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
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Drill sample
recovery
• Whether a relationship exists between sample recovery
and grade and whether sample bias may have occurred
due to preferential loss/gain of fine/coarse material.
• All geology input is logged and validated
by the relevant area geologists,
incorporated into this is assessment of
sample recovery. No defined
relationship exists between sample
recovery and grade. Nor has sample bias
due to preferential loss or gain of fine or
coarse material been noted.
Logging
• Whether core and chip samples have been geologically
and geotechnically logged to a level of detail to support
appropriate Mineral Resource estimation, mining studies
and metallurgical studies.
• Whether logging is qualitative or quantitative in nature.
Core (or costean, channel, etc.) photography.
• The total length and percentage of the relevant
intersections logged
• Manuka surface diamond drill-holes are
all orientated and have been logged in
detail for geology, veining, alteration,
mineralisation and orientated structure.
Core is logged in enough detail to allow
where appropriate relevant mineral
resource estimation techniques to be
employed.
• Surface core is photographed both wet
and dry. All photos are stored on the
Company’s servers, with the
photographs from each hole contained
within separate folders.
• RC chips are geologically logged.
• Logging is quantitative in nature.
• All holes are logged completely.
Sub-sampling
techniques
and sample
preparation
• If core, whether cut or sawn and whether quarter, half or all
core taken.
• If non-core, whether riffled, tube sampled, rotary split, etc.
and whether sampled wet or dry.
• For all sample types, the nature, quality and appropriateness
of the sample preparation technique.
• Quality control procedures adopted for all sub-sampling
stages to maximise representivity of samples.
• Measures taken to ensure that the sampling is
representative of the in-situ material collected, including for
instance results for field duplicate/second-half sampling.
• Whether sample sizes are appropriate to the grain size of
the material being sampled.
• RC – Pulverised material is sampled from
a 2 sample rotating splitter (producing 3 -
5kg sample). Samples are generally dry.
• Diamond Drilling - Half-core niche
samples, sub-set via geological features as
appropriate.
• RC Chips / core samples undergo total
preparation.
• Samples undergo fine pulverisation of the
entire sample by an LM5 type mill to
achieve a -75μm product prior to assay
splitting.
• QA/QC is currently ensured during the sub-
sampling stages process via the use of the
systems of an independent NATA / ISO
accredited laboratory contractor.
• The sample size is considered appropriate
for the grain size of the material being
sampled.
The un-sampled half of diamond core is
retained for check sampling if required.
For RC chipsregular field duplicates are
collected and analysed for significant
variance to primary results.
Quality of
assay data and
laboratory
tests
• The nature, quality and appropriateness of the assaying
and laboratory procedures used and whether the
technique is considered partial or total.
• For geophysical tools, spectrometers, handheld XRF
instruments, etc., the parameters used in determining the
analysis including instrument make and model, reading
times, calibrations factors applied and their derivation,
etc.
• Nature of quality control procedures adopted (e.g.
standards, blanks, duplicates, external laboratory checks)
and whether acceptable levels of accuracy (i.e. lack of
bias) and precision have been established.
• Historic drilling was analysed by a
combination of fire assay and ICP,
however this method was modified for
the Mt Boppy scout drilling programme
as outlined below; Mt Boppy scout
exploration drilling uses Photon
analyses for Au and pXRF for acquisition
of multielement data. Mineral resource
delineation drilling at Pipeline Ridge will
be assayed for gold by Fire assay (50g)
and multielement data by pXRF.
• The current drill programme has all
sample prep and gold analysis
undertaken at SGS Orange.
• All gold diamond drilling samples
submitted for assay include at least one
blank every 20m. It was found that the
Certified Reference Material ("CRM")
planned per batch, was not big enough
for Photon analysis. In the case of
samples with observed visible gold
mineralization, a coarse blank is
inserted after the visible gold

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Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 Tel 02 7253 2020 www.manukaresources.com.au
mineralization to serve as both a coarse
flush to prevent contamination of
subsequent samples and a test for gold
smearing from one sample to the next
which may have resulted from
inadequate cleaning of the crusher and
pulveriser. The lab is also required to
undertake a minimum of 1 in 20 wet
screens on pulverised samples to ensure
a minimum 85% passing at -75μm. No
significant QA/QC issues have arisen in
recent drilling results.
• Photon Assay has been introduced for
exploration drill samples. PhotonAssay™
technology (Chrysos Corporation
Limited) is a rapid, non-destructive
analysis of gold and other elements in
mineral samples. It is based on the
principle of gamma activation, which
uses high energy x-rays to excite changes
to the nuclear structure of selected
elements. The decay is then measured
to give a gold analysis. Each sample is run
through two cycles with a radiation time
of 15s. This methodology is insensitive to
material type and thus does not require
fluxing chemicals as in the fire assay
methodology. Highlights of the
PhotonAssay™ process are as follows:
• The process is non-destructive; the same
sample accuracy can be determined by
repeat measurements of the same
sample. In addition, the instrument runs
a precision analysis for each sample
relating to the instrument precision
• The process also allows for an increased
sample size, up to 500 g of crushed
product.
• The crushed material is not pulverised,
as in the fire assay process, and this
procedure ensures that gold is not
smeared or lost during pulverisation
(especially important if there is an
expectation of visible gold that is being
analysed)
• Historical drilling has used a combination
of Fire Assay, and Aqua Regia / AAS
analysis.
• These assay methodologies are
appropriate for the resources under
evaluation.
Verification of
sampling and
assaying
• The verification of significant intersections by either
independent or alternative company personnel.
• The use of twinned holes.
• Documentation of primary data, data entry
procedures, data verification, data storage (physical and
electronic) protocols.
• Discuss any adjustment to assay data.
• Currently no independent or alternative
verifications are available.
• There have been no twinned holes
drilled on the Mt Boppy and Pipeline Ridge
projects.
• Primary data is collected utilising LogChief.
The information is imported into a
Datashed5 (SQL database server) and
verified.
• All data used in the calculation of any
mineral resources are compiled in
databases which are overseen and
validated by senior geologists.
• No adjustments have been made to any
assay data.
Location of
data points
• Accuracy and quality of surveys used to locate drill holes
(collar and down-hole surveys), trenches, mine workings
and other locations used in Mineral Resource estimation.
• Specification of the grid system used.
• Quality and adequacy of topographic control.
• All data is spatially oriented by survey
controls via direct pickups by the
exploration team using either handheld
GPS or Differential GPS. Drillholes are all
surveyed downhole, deeper holes with a

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Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 Tel 02 7253 2020 www.manukaresources.com.au
Gyro tool, the majority with multishot
cameras.
• All drilling and resource estimation (if
applicable) is preferentially undertaken
in the UTM grid system at the various
sites.
• Topographic control is generated from a
combination of remote sensing methods
including Drone and LIDAR surveys and
ground-based surveys. This
methodology is adequate for the
resources in question.
Data spacing
and
distribution
• Data spacing for reporting of Exploration Results.
• Whether the data spacing and distribution is sufficient to
establish the degree of geological and grade continuity
appropriate for the Mineral Resource and Ore Reserve
estimation procedure(s) and classifications applied.
• Whether sample compositing has been applied.
• Data spacing is variable dependent upon
the individual orebody under
consideration. A lengthy history of
mining has shown that this approach is
appropriate for the Mineral Resource
Estimation process and to allow for
appropriate classification of the
resources.
• In the first instance no compositing is
undertaken. If applied it is carried out
based upon the modal sample length of
each individual domain.
Orientation of
data in relation
to geological
structure
• Whether the orientation of sampling achieves unbiased
sampling of possible structures and the extent to which
this is known, considering the deposit type.
• If the relationship between the drilling orientation and the
orientation of key mineralised structures is considered to
have introduced a sampling bias, this should be assessed
and reported if
• material.
• Drilling intersections are nominally
designed to be normal or close to normal
to the mineral zones as far as geological
controls allow.
• It is not considered that drilling
orientation has introduced an
appreciable sampling bias.
Sample
security
• The measures taken to ensure sample security.
• Manuka exploration samples are
assayed off-site, and samples are thus
delivered to a third-party transport
service, who in turn relay them to the
independent laboratory contractor.
Samples are stored securely until they
leave site.
Audits or
reviews
• The results of any audits or reviews of sampling techniques
and data
• Audits and reviews on sampling
techniques have been undertaken on
previous resource estimations for the Mt
Boppy mine, with no significant flaws.

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Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 Tel 02 7253 2020 www.manukaresources.com.au
SECTION 2: REPORTING OF EXPLORATION RESULTS
(Criteria listed in the preceding section also apply to this section.)

Criteria JORC Code Explanation Commentary
Mineral tenement and land
tenure status
• Type, reference name/number, location and ownership
including agreements or material issues with third parties
such as joint ventures, partnerships, overriding royalties,
native title interests, historical sites, wilderness or
national park and environmental settings.
• The security of the tenure held at the time of reporting along
with any known impediments to obtaining a licence to
operate in the area.
• The MKR tenements are held by Mt Boppy
Resources Pty Ltd., a wholly owned
subsidiary of Manuka Resources Ltd.
• The current drilling exploration targets locate
on EL 5842.
• Native title interests are recorded against EL
5842 in the Mt Boppy Mine area.
• There are no third-party royalties on EL
5842 at present.
• The tenure is currently in good standing.
• There are no known issues regarding security
of tenure.
• MKR operates in accordance with all
landholder access and environmental
conditions set down as conditions for grant
of the lease.
Exploration done by
other parties
• Acknowledgment and appraisal of exploration by other
parties
Pipeline Ridge historic exploration


































Geology
• Deposit type, geological setting and style of mineralisation.
Mt Boppy
• The Mt. Boppy Gold Mine is located in New
South Wales approximately 50 km east of
Cobar at 435130 mE, 6508060 mN (MGA zone
55). Underground mining from 1897 to 1923
extracted material to a maximum depth of
about 230 m. Open pit mining by Polymetals
and later Black Oak Minerals occurred in two
phases in 2002-2005 and 2015 down to a
maximum depth of 80 m. Mining
recommenced in mid-2020 under Manuka
Resources Ltd (MKR).
• Gold mineralisation occurs in quartz-sulphide
veining hosted in breccias and tension
fractures in two main north-striking and
steeply west dipping zones: the thicker, more

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Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 Tel 02 7253 2020 www.manukaresources.com.au
continuous East Lode and narrower, less well-
developed West Lode. Lodes are interpreted
to be truncated on their west side and at
depth by a NNE striking and steeply east-
dipping structure known as the West Fault.
During underground mining workings were
supported with timber and backfilled with
tailings sands from processing. Sand fill
samples grade between 0.05 g/t Au and 38 g/t
Au.
• Highest grades in remnant (un-mined)
material occur proximal to the hangingwall
zone of the East Lode above dip flexures and
near the intersection with the West Lode.

Pipeline Ridge
• The Pipeline Ridge Au-Cu-Pb-Zn deposit in the
Cobar District of central New South Wales is
contained within the Sarona Downes tuff
member of the Kopyje Shelf, 28 km southeast
of the town of Canbelego. The subregional
geological setting locates the deposit adjacent
to the Coonara Fault, which is part of a north-
northwest striking terrane termed as the
Canbelego-Mineral Hill volcanic belt.
• The prospect is marked by extensive
hydrothermal alteration in the form of
sericitisation and chlorite alteration emplaced
on volcanics with an alkali-rich (A-type)
affinity. The deposit appears a combination of
an early Kuroko-style VMS deposit associated
with the initial eruption of felsic volcanics in a
marine environment, with a later
intermediate sulphidation epithermal
overprint , characterized by the strong
hydrothermal alteration with chalcedonic,
coliform and vuggy quartz veining.
Drill hole Information
• A summary of all information material to the
understanding of the exploration results including a
tabulation of the following information for all Material
drill holes:
o easting and northing of the drill hole collar
o elevation or RL (Reduced Level – elevation above
sea level in metres) of the drill hole collar
o dip and azimuth of the hole
o down hole length and interception depth
o hole length.
• If the exclusion of this information is justified on the
basis that the information is not Material and this
exclusion does not detract from the understanding of
the report, the Competent Person should clearly
explain why this is the case.


• Historic Pipeline Ridge drillhole collar
and intersection data are shown below.

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Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 Tel 02 7253 2020 www.manukaresources.com.au

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Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 Tel 02 7253 2020 www.manukaresources.com.au



Data aggregation methods
• In reporting Exploration Results, weighting averaging
techniques, maximum and/or minimum grade
truncations (e.g., cutting of high grades) and cut-off
grades are usually Material and should be stated.
• Where aggregate intercepts incorporate short lengths of
high-grade results and longer lengths of low-grade
results, the procedure used for such aggregation should
be stated and some typical examples of such
aggregations should be shown in detail.
• The assumptions used for any reporting of metal equivalent
values should be clearly stated.
• All results presented are length weighted.
• No high-grade cuts are used.
• Reported results contain no more than two
contiguous metres of internal dilution
below 0.5g/t.
• Results are reported above a variety of
gram / metre cut-offs dependent upon the
nature of the hole. Grade cut-offs if
applied are clearly stated in the relevant
tables.
• Unless indicated to the contrary, all results
reported are downhole width.

Relationship between
mineralisation widths and
intercept lengths
• These relationships are particularly important in the
reporting of Exploration Results.
• If the geometry of mineralisation with respect to the drill
hole angle is known, its nature should be reported.
• If it is not known and only the down hole lengths are
reported, there should be a clear statement to this effect
(e.g., ‘down hole length, true width not known’).
• Unless indicated to the contrary, all results
reported are downhole widths.

Diagrams
• Appropriate maps and sections (with scales) and
tabulations of intercepts should be included for any
significant discovery being reported. These should
include, but not be limited to a plan view of
• drill hole collar locations and appropriate sectional views.
• Drilling at Mt Boppy South Extensions has not
intersected any material gold mineralization.
• Diagrams and cross sections are shown in
Annexure1 above.

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Manuka Resources Limited - Level 4 Grafton Bond Building, 201 Kent St Sydney NSW Australia 2000
ABN 80 611 963 225 Tel 02 7253 2020 www.manukaresources.com.au
Balanced reporting
• Where comprehensive reporting of all Exploration Results
is not practicable, representative reporting of both low
and high grades and/or widths should be practiced
avoiding misleading reporting of Exploration Results.
• Appropriate balance in reporting of exploration
results reporting is to be provided.
Other substantive
exploration data
• Other exploration data, if meaningful and material,
should be reported including (but not limited to):
geological observations; geophysical survey results;
geochemical survey results; bulk samples – size and
method of treatment; metallurgical test results; bulk
density, groundwater, geotechnical and rock
characteristics;
• potential deleterious or contaminating substances.
• There is no other substantive exploration data
associated with this release.
Further work
• The nature and scale of planned further work (e.g. tests
for lateral extensions or depth extensions or large-scale
step-out drilling).
• Diagrams clearly highlighting the areas of possible
extensions, including the main geological interpretations
and future drilling areas, provided this information is not
commercially sensitive.
• Ongoing surface exploration activities will
be undertaken to support continuing
mining and exploration activities at Mt Boppy
and potentially progressing to mine
development at the Pipeline Ridge Project.