Announcement PDF 14 September 2026 ASSAY RESULTS CONFIRM SUBSTANTIAL EXTENSIONS TO SORBY HILLS MINERALISATION HIGHLIGHTS Strong intercepts beyond the current FEED Study pit designs include: • SHSD_207 – Omega Central: 12.62m @ 204g/t AgEq, 121g/t Ag & 7.65% Pb from 23m • SHSD_201 – B Deposit: 3.26m @ 186g/t AgEq, 50g/t Ag & 12.66% Pb from 72m • SHSD_195 – Omega S: 3.00m @ 152g/t AgEq, 28g/t Ag & 11.45% Pb from 136m • SHSD_211 – Omega Central: 7.05m @ 133g/t AgEq, 70g/t Ag & 5.79% Pb from 110m • SHSD_214 – Omega S: 8.65m @ 72g/t AgEq, 25g/t Ag & 4.37% Pb from 107m • SHSD_204 – B Deposit: 12.88m @ 61g/t AgEq, 17g/t Ag & 4.04% Pb from 46m • SHSD_190 – Omega S: 15.00m @ 56g/t AgEq, 26g/t Ag & 2.82% Pb from 98m o incl. 6.00m @ 76g/t AgEq, 31g/t Ag & 4.21% Pb from 105m Growth drilling program builds momentum: • Resource Conversion drilling completed across the B, Omega, Norton and Beta deposits, with 2,026 samples submitted for laboratory analysis. • Phase IX drilling completed in full, plus 7 additional holes for 930m, taking the program approximately 15% beyond its original planned meterage. • Further drilling completed following encouraging visual mineralisation, targeting Reserve growth, mine-life extension and increased silver exposure. • Drilling underway at Boab’s Keep Zinc target. Boab Metals Limited (ASX: BML) ("Boab" or the "Company") is pleased to report encouraging results from its 2026 Phase IX growth drilling program at the Sorby Hills Silver-Lead-Zinc Project, with the program expanded beyond its original scope following positive geological observations. Boab has now completed the entire planned Phase IX drilling program, together with seven additional holes. Assay results received and reported within this announcement have confirmed significant silver-lead mineralisation in areas outside of the current FEED Study pit designs. These highly encouraging results have prompted Boab to further extend the drilling program, with several additional holes added to the expanded program. Further assay results remain pending and are expected to be received during Q4 2026. Page 2 of 22 Boab Managing Director and CEO, Simon Noon, said: “These results confirm potentially ore-grade mineralisation beyond current FEED Study pit designs and reinforce Sorby Hills’ growth potential. With the Project fully funded and under construction, additional Ore Reserves and silver production could deliver meaningful shareholder value. The results have already justified extending the drilling program, and we look forward to demonstrating the growth potential of Australia’s next major silver producer.” Figure 1: Location of the Sorby Hills Project GROWING THE SORBY HILLS PRODUCTION PROFILE In July 2026, Boab announced the commencement of its targeted drilling program across Sorby Hills and adjoining landholdings in the onshore Bonaparte Gulf Basin (Figure 1). The program is designed to support near-term production ramp-up and longer-term value creation. At Sorby Hills, the drilling program includes: • Resource-to-Reserve conversion drilling focused on upgrading portions of the existing Mineral Resource to support detailed mine planning and production scheduling. This conversion drilling is not a condition precedent to drawing on the project finance debt facility; • Silver-focused resource expansion drilling targeting extensions to known mineralisation, particularly silver intercepts previously excluded under the lead-only cut-off grade. This work may support re-estimation of the Mineral Resource on a combined lead-silver basis and potential mine-life extensions; and • Exploration drilling across the broader Sorby Hills tenure to test targets identified through geological interpretation and historical datasets. Page 3 of 22 Figure 2: Plan view of the Sorby Hills Project showing the locations of planned and completed Phase IX drill hole collars with respect to Mineral Resource and FEED STUDY open pit and cross section location reported in this release. Page 4 of 22 PHASE IX DRILLING PROGRAM The Phase IX drilling program was designed to enhance the long-term value of Sorby Hills by increasing Ore Reserves, expanding silver-rich mineralisation and identifying opportunities to extend the current mine plan beyond the FEED STUDYFEED Study pit designs (Figure 2). Boab has completed 47 sonic/diamond core holes for approximately 5,880m, including 7 additional holes for approximately 930m. All planned holes at B Deposit, Omega, Norton and Beta have been completed, together with three additional holes at Norton North, three at Omega North and one at B Deposit. The remaining program comprises drilling at the Keep Zinc target and one deep hole at the Manbarrum Zinc-Silver-Lead Project located 25km east of Sorby Hills. Near Pit Targets Drilling successfully intersected the target horizons across all priority areas, supporting the current geological interpretation and providing encouraging indications of potential Resource and Reserve growth. B Deposit At B Deposit, eight holes were completed, primarily along the eastern down-dip perimeter, with additional up-dip testing (Figure 3). The follow-up hole, SHSD_233, was collared 50m west and up- dip of SHSD_205 and intersected mineralisation. Figure 3 shows a section through B Deposit where drilling tested mineralisation beyond the current FEED Study pit shell both up-dip and down-dip. SHSD_233 extended the mineralisation up-dip and supports the interpretation of a gentle anticline-syncline geometry that may have preserved the target horizon at shallow depth. Further drilling is planned to test this interpretation. SHSD_203 and SHSD_204 confirmed and extended the mineralised zone at depth, with the potential to support additional ore tonnes and an expanded pit. Figure 3: Cross-section of the B-Deposit with the position of new drill holes, intercepts and geological interpretation (see Figure 2 for location). Page 5 of 22 Omega Deposit At Omega Deposit, 21 holes have been completed, primarily along the eastern down-dip perimeter (Figures 4 to 6). The sections show drilling from north to south testing mineralisation near, but outside, the current FEED Study pit shell, except for SHSD_207, which tested an interpreted internal pinch-out. Figure 4: Representative east-west cross-section of northern Omega Deposit showing Phase IX mineralised intercepts and geological interpretation (see Figure 2 for location). Figure 5: Representative east-west cross-section of central Omega Deposit showing Phase IX mineralised intercepts and geological interpretation (see Figure 2 for location). Page 6 of 22 Figure 6: Representative east-west cross-section of southern Omega Deposit showing Phase IX mineralised intercepts and geological interpretation (see Figure 2 for location). Wide and high-grade intercepts were returned from SHSD_190, SHSD_195, SHSD_207, SHSD_211 and SHSD_214 across Omega (Figures 4 to 6). Their potential economic impact will be assessed through a future Mineral Resource estimate and subsequent pit optimisation. Norton Deposit Three additional holes were drilled approximately 150m north of the Norton pit perimeter to follow up encouraging visual intercepts from SHSD_215 to SHSD_217 (Figure 2). The holes tested the interpreted continuity of high-grade silver-lead mineralisation below the Knox Formation and each intersected significant mineralisation within the target interval at 90m to 120m down-hole depth. Assay results are pending. Beta Deposit All nine planned holes at Beta Deposit, 1.5km north of Norton, have been completed. The drilling was designed to improve the definition of mineralisation geometry, grade distribution and continuity. Core observations support the initial interpretation of stratabound mineralisation and a gradual rise in the mineralised envelope to the north. Unlike the main mineralisation at Norton, Omega and B Deposit, Beta mineralisation occurs above the Knox Formation and is therefore not stratigraphically connected. However, several deeper holes also intersected mineralisation below the Knox Formation. Geological data are still being compiled and interpretation remains preliminary. Page 7 of 22 Keep Zinc Target Drilling is now underway at the Keep Zinc target, 3.5km south of Central Omega, where three deep sonic/diamond holes totalling approximately 1,200m are planned. Keep is an early-stage exploration target containing enriched zinc mineralisation. The drilling will test the continuity and controls of mineralisation intersected in the discovery hole. Mineralisation at Keep occurs at greater depth and has an approximate 1:1 lead-to-zinc ratio. o SHSD_185: 15.0m @ 3.40% combined Pb+Zn and 12.5g/t Ag from 242.55m • Incl. 5.93m @ 7.35% combined Pb+Zn and 26.5g/t Ag from 242.55m Manbarrum Boab also intends to advance exploration at its 100%-owned Manbarrum Zinc-Silver-Lead Project, 25km east of Sorby Hills. Drilling at Manbarrum will test priority targets and assess the potential for new discoveries and future Resource definition. The Board of Directors has authorised this announcement for release to the market. FOR FURTHER INFORMATION, PLEASE CONTACT: Simon Noon Managing Director & CEO Phone: +61 (0)8 6268 0449 Email: info@BoabMetals.com Click here to leave a question about this announcement and to visit our investor hub. ABOUT BOAB METALS LIMITED Boab Metals Limited (“Boab”, ASX: BML) is an Australian resources company specialising in the exploration, development, and production of base and precious metals. Based in Perth Western Australia, Boab is positioning to become a significant new producer of silver and lead, capitalising on strong silver and lead market fundamentals to deliver long-term shareholder value. Boab’s flagship Sorby Hills silver-lead project in the East Kimberley is Australia’s largest undeveloped, near-surface silver-lead deposit. This 100% owned project is fully funded and under construction, targeting first production in the second half of 2027. Boab is taking a capital efficient approach to developing Sorby Hills, leveraging existing regional infrastructure and repurposing major assets to reduce capital costs, construction timeline and the need for new infrastructure. Boab also holds a portfolio of exploration assets with the potential to support future resource growth and mine life extensions. Page 8 of 22 COMPLIANCE STATEMENTS The Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (the ‘JORC Code’) sets out minimum standards, recommendations and guidelines for Public Reporting in Australasia of Exploration Results, Mineral Resources and Ore Reserves. The information in this release that relates to Exploration Results is based on information prepared by Dr Simon Dorling. Dr Dorling is a member of the Australasian Institute of Geoscientists (Member Number: 3101). Dr Dorling has sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity which they are undertaking to qualify as a Competent Person as defined in the 2012 Edition of the JORC Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Dr Dorling consents to the inclusion in the release of the matters based on their information in the form and context in which it appears. Information included in this Announcement relating to Mineral Resources has been extracted from the Mineral Resource Estimate dated 17 December 2021, available to view at www.boabmetals.com. The Company confirms that it is not aware of any new information or data that materially affects the information included in the Mineral Resource Estimate and that all material assumptions and technical parameters underpinning the estimates, 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 modified from the Mineral Resource Estimate. Page 9 of 22 Table 1: Summary of significant assay results received to date. Hole_ID mFrom3 mTo Thickness2 Pb_% Ag (ppm) Zn_% AgEq1 SHSD_190 98.00 113.00 15.00 2.82 25.64 0.53 56.06 SHSD_191 40.45 45.36 4.91 2.28 10.04 0.70 34.63 SHSD_191 48.60 55.02 6.42 1.65 6.9 0.18 24.70 SHSD_192 no significant result above C/O SHSD_193 no significant result above C/O SHSD_194 no significant result above C/O SHSD_195 112.41 117.00 4.59 1.3 9.66 0.26 23.68 SHSD_195 136.80 139.80 3.00 11.45 28.15 0.80 151.66 SHSD_196 SHSD_197 84.12 87.00 2.80 2.07 6.66 0.06 28.99 SHSD_198 no significant result above C/O SHSD_199 no significant result above C/O SHSD_200 no significant result above C/O SHSD_201 72.74 76.00 3.26 12.66 50.04 1.17 186.60 SHSD_202 71.00 74.54 3.54 5.11 41.03 1.19 96.15 SHSD_203 74.65 83.00 8.35 3.38 12.3 0.24 48.76 SHSD_204 46.06 58.94 12.88 4.04 17.44 0.15 61.02 SHSD_205 27.80 34.00 6.20 2.86 17.49 0.21 48.34 SHSD_206 no significant result above C/O SHSD_207 23.38 36.00 12.62 7.65 121.29 0.32 203.81 SHSD_207 40.00 43.30 3.30 2.32 43.18 0.60 68.21 SHSD_208 no significant result above C/O SHSD_209 A no significant result above C/O SHSD_210 no significant result above C/O SHSD_211 110.95 118.00 7.05 5.79 70.26 0.09 132.71 SHSD_213 107.00 113.54 6.54 1.2 11.95 0.36 24.89 SHSD_213 125.50 129.00 3.50 2.42 19.73 0.28 45.83 SHSD_214 107.35 116.00 8.65 4.37 24.68 0.32 71.82 SHSD_214 126.19 130.00 3.81 1.13 11.91 0.18 24.10 Note: Intercepts are calculated using a 1% Pb cut-off grade, allowing up to 2m of consecutive waste and 4m of total waste. ³Depth is down-hole depth. ²Intercept thickness may be treated as true thickness because drill holes are oriented approximately orthogonal to the mineralised layering. ¹AgEq calculation: Page 10 of 22 The contained metal-equivalence formula is based on: • Lead Price US$1,875/t; • Lead recovery of 91% (weighted average of oxide and fresh Pb recoveries); • Lead Payability rate of 95%; • • Silver Price US$60.0/oz; • Silver recovery of 82% (weighted average of oxide and fresh Ag recoveries); and • Silver Payability rate of 95%. In Boab’s opinion, all elements included in the metal-equivalent calculation have a reasonable potential to be recovered and sold. The formula used to calculate silver-equivalent grade is: MetalEq (%) = Gpri + (Gpri × [∑i Ri Si Vi Gi ]/(Rpri Spri Vpri Gpri)) where R is the respective metallurgical metal recovery rate, S is the respective smelter return rate, V is metal price/tonne or ounce, and G is the metal commodity grade for the suite of potentially recoverable commodities (i) relative to the primary metal (pri). Metal-equivalent grades are highly dependent on the commodity prices used. Boab notes that this is a simplified approach. The adopted metal prices are based on PFS assumptions and do not represent the prices a smelter would pay for concentrate; smelter penalties and charges are not included. Due to limited metallurgical data, zinc grades have not been included in the silver-equivalent grade calculation. Page 11 of 22 APPENDIX 1: DRILL HOLE COLLAR DETAILS Actual BH_ID Drillhole Status Project Area Deposit / Prospect E_GDA- 52 N_GDA- 53 RL Dip Azi Final Depth SHSD_190 c Sorby Hills Omega S 498330 8291252 20 -70 270 138.75 SHSD_191 c Sorby Hills Omega S 498125 8291149 21 -70 270 72.75 SHSD_192 c Sorby Hills Omega S 498217 8291055 21 -70 270 81.75 SHSD_193 c Sorby Hills Omega S 498326 8290953 20 -70 270 141.75 SHSD_194 c Sorby Hills Omega S 498292 8290851 21 -70 270 135.8 SHSD_195 c Sorby Hills Omega S 498266 8290756 20 -80 270 150.8 SHSD_196 c Sorby Hills Omega S 498199 8290651 20 -70 270 102.8 SHSD_197 c Sorby Hills Omega S 498167 8290598 20 -70 270 108.8 SHSD_198 c Sorby Hills Omega S 498073 8290571 21 -70 270 54.8 SHSD_199 c Sorby Hills Omega S 498025 8290598 20 -70 270 75.8 SHSD_200 c Sorby Hills B-Deposit 497929 8290054 20 -70 270 66.8 SHSD_201 c Sorby Hills B-Deposit 498037 8289953 20 -70 270 102.8 SHSD_202 c Sorby Hills B-Deposit 498055 8289845 20 -65 270 105.8 SHSD_203 c Sorby Hills B-Deposit 498057 8289804 20 -65 270 111.8 SHSD_204 c Sorby Hills B-Deposit 497962 8289804 20 -75 270 72.8 SHSD_205 c Sorby Hills B-Deposit 497697 8289749 20 -65 270 51.8 SHSD_206 c Sorby Hills B-Deposit 497818 8290154 20 -70 270 45.8 SHSD_207 c Sorby Hills Omega Central 498001 8291710 20 -90 0 60.8 SHSD_208 c Sorby Hills Omega Central 498065 8291853 20 -70 270 81.8 SHSD_209 Aband. Sorby Hills Omega Central 498057 8291902 21 -65 270 40.2 SHSD_209A c Sorby Hills Omega Central 498057 8291902 21 -65 270 129.6 SHSD_210 c Sorby Hills Omega Central 498028 8291954 20 -75 270 123.6 SHSD_211 c Sorby Hills Omega Central 498033 8292102 20 -90 0 150.8 SHSD_212 c Sorby Hills Omega Central 497981 8292202 20 -65 270 129.8 Page 12 of 22 Actual BH_ID Drillhole Status Project Area Deposit / Prospect E_GDA- 52 N_GDA- 53 RL Dip Azi Final Depth SHSD_213 c Sorby Hills Omega Central 497929 8292402 21 -65 270 144.6 SHSD_214 c Sorby Hills Omega Central 497852 8292453 21 -70 270 141.8 SHSD_215 c Sorby Hills Norton 497072 8293749 21 -70 270 141.8 SHSD_216 c Sorby Hills Norton 497018 8293787 21 -70 270 129.8 SHSD_217 c Sorby Hills Norton 496856 8293743 22 -70 270 120.8 SHSD_218 c Sorby Hills Beta Deposit 496033 8295004 23 -70 270 111.8 SHSD_219 c Sorby Hills Beta Deposit 496350 8294954 22 -80 270 90.8 SHSD_220 c Sorby Hills Beta Deposit 496332 8295054 23 -75 270 105.8 SHSD_221 c Sorby Hills Beta Deposit 496450 8295099 22 -75 270 120.8 SHSD_222 c Sorby Hills Beta Deposit 496243 8295104 22 -90 0 99.8 SHSD_223 c Sorby Hills Beta Deposit 496124 8295224 22 -75 270 150.8 SHSD_224 c Sorby Hills Beta Deposit 496127 8295274 21 -75 270 153.8 SHSD_225 c Sorby Hills Beta Deposit 496124 8295376 22 -75 270 147.8 SHSD_226 c Sorby Hills Beta Deposit 496287 8295376 21 -90 0 177.8 SHSD_227 c Sorby Hills Beta Deposit 497975 8292403 20 -70 270 150.8 SHSD_228 c Sorby Hills Omega Central 497933 8292474 20 -70 270 159.8 SHSD_229 c Sorby Hills Omega Central 497858 8292499 20 -70 270 141.8 SHSD_230 c Sorby Hills Norton 496960 8293787 21 -70 270 132.8 SHSD_231 c Sorby Hills Norton 496992 8293837 22 -70 270 129.8 SHSD_232 c Sorby Hills Norton 497047 8293836 21 -70 270 132.8 SHSD_233 c Sorby Hills B-Deposit 497638 8289753 20 -60 270 78.8 SHSD_234 In Progr. Sorby Hills Keep Target 498467 8287918 21 -65 270 387.8 SHSD_235 In Progr. Sorby Hills Keep Target 498467 8288118 21 -65 270 390.8 SHSD_236 In Progr. Sorby Hills Keep Target 498590 8288018 20 -65 270 MBSD_001 tbd Manbarrum 521795 8301670 20 -70 45 *c = completed; tbd = to be drilled. Page 13 of 22 APPENDIX 2 - JORC CODE 2012 EDITION TABLE 1 Section 1 Sampling Techniques (Criteria listed in the preceding section also apply to this section) Criteria JORC Code Explanation Commentary Sampling techniques • Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement too ls appropriate to the minerals under investigation, such as down hole 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. • For the sonic/diamond drilling program (from June to September 2026), sampling is conducted in the field. After geological logging and data capturing the cutting/sampling intervals were determined and marked. The drill core sample intervals destined for sampling have been and will be shipped to Intertek laboratories in Darwin/Perth for cutting and sampling. The sampling process is supervised by Boab geologists. • The Sonic pre-collars were geologically logged but not samples. The diamond core intervals were geologically logged by a geologist and assessed for visible mineralisation. Where necessary samples were also scanned with a portable XRF (Olympus InnovX Delta) for an indication of qualitative lead concentration. About 40% of all samples have been submitted to the laboratory. • The sampling methodology to be undertaken at Intertek laboratories is considered representative and appropriate for the carbonate hosted style of mineralisation at Sorby Hills and is consistent with sampling protocols in the past conducted by Boab. 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). • The drilling method used during the Phase IX 2026 drill program is sonic pre collars until bedrock is reached followed by HQ size diamond drilling (DD). Drill sample recovery • Method of recording and assessing core and chip sample • The sample (core) recovery is between 98 and 100% for most of the Page 14 of 22 Criteria JORC Code Explanation Commentary recoveries and results assessed. • Measures taken to maximise sample recovery and ensure representative nature of the samples. • 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. core drilling including the mineralised intervals. There were very few occasions where broken ground conditions were encountered where the core loss due to core grinding was encountered. 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 DD core is logged at the temporary core site while a permanent core shed is constructed at Sorby Hills mine. The core is geotechnically, geologically, structurally and mineralogically logged and density measured on site and photographed. Sub-sampling techniques a nd 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. • ½ core samples are analysed cut and sampled for each drill hole. • The sampling is done between geologically distinguished lithological units and metallogenic domains. The Sample intervals are representative and appropriate for the nature and mineral distribution of this deposit type. 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 • All samples will be sent to Intertek Laboratories in Darwin/Perth for preparation and analysis. Duplicates, blanks and standards are inserted at regular intervals. • All samples will be assayed to accepted industry standards at the Page 15 of 22 Criteria JORC Code Explanation Commentary 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. Intertek Laboratories in Perth. Four- acid digestion of pulverised sample followed by ICP-OES or equivalent assay technique. • Certified Ore Grade Base Metal Reference Material provided by Geostats Pty Ltd. The standards selected covered a range of lead and silver concentrations and there is good agreement between the Pb and Ag assays, and the mean values provided with the reference standards. For the standards the assayed values were within half of one standard deviation and more commonly below the mean suggesting that grade overestimation is not a significant problem in the dataset. • Duplicates and Blanks were also included in all sample despatches. 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. • Geological logs were digitally entered into data entry templates in MS Excel and entered into an Access database. • Assay certificates were received from the analytical laboratories and imported into the drill database. • No adjustments were made to the 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. • Accurately surveyed using a DGPS by a registered surveyor and recorded in GDA94 Zone 52 will be conducted at the end of the program. • All drill holes are surveyed down hole on completion of the drill hole with a Reflex Gyro tool every 30 m. • The initial siting of the drill hole position is based on planned coordinates from the 3D data base and GPS positioning in the field 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 • The spacing between new and existing drill holes can range from a minimum of 50 m to 25 m spaced collars. • All but one drill hole at the Page 16 of 22 Criteria JORC Code Explanation Commentary and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. • Whether sample compositing has been applied. Omega Deposit are inclined at -60 to 70 degrees to the west to encounter the mineralised horizon orthogonal. • . 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. • It is not considered that there is a significant sampling bias due to structure. Sample security • The measures taken to ensure sample security. • Cores trays are stored and processed at a secure facility at site. All samples are taken by Boab personnel to the truck depot in Kununurra and placed on pallets for transport direct to Intertek Laboratory in Darwin for sample prep. Audits or reviews • The results of any audits or reviews of sampling techniques and data. • To be undertaken. Page 17 of 22 Section 2 Reporting of Exploration Results (Criteria listed in the preceding section also apply to this section.) Criteria JORC Code Explanation Commentary Mineral teneme nt 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 Sorby Hills Project comprises five mining leases (M80/196-197 and M80/285-287) (see Table 2 below). • In addition, Boab has 100% ownership over the Eight Mile Project which is immediately south of the Sorby Project area. Table 2: Sorby Hills Tenement Summary • The Mining Leases are centred at coordinates 128°57’E, 15°27’N. • The project area is approximately 50 km north- northeast of the township of Kununurra and covers a total area of 12,612.40 hectares (ha). • The Mining Leases were granted prior to the High Court acknowledging Native Title and therefore native title has been extinguished over the MLs. • The project area lies adjacent to proposed Goomig Range Conservation Park. • Tenure is in good standing until 2030 (in some cases, out to 2031. M80/286 & M80/197 have a current cultural clearance access agreement in place; for the remaining mining tenements normal cultural clearance plans would be required. No mining agreement has been negotiated. Tenem ent Area (km2) Boab Owner ship % Granted Expiry M80/19 6 9.99 100% 22/01/19 88 21/01/20 30 M80/19 7 9.95 100% 22/01/19 88 21/01/20 30 M80/2 85 5.57 100% 29/03/19 89 28/03/2 031 M80/2 86 7.89 100% 29/03/19 89 28/03/2 031 M80/2 87 8.15 100% 29/03/19 89 28/03/2 031 E80/53 17 217 100% 05/03/2 020 04/03/2 025 Explora tion done by other parties • Acknowledgme nt and appraisal of exploration by other parties. • The Sorby Hills area has been systematically explored by numerous companies since