Project summary and regional context

• The area sits 55 km Northwest of the town of Leonora in Western Australia with tenements situated across the boundary between the Kalgoorlie and Kurnalpi terranes – separated by the Ockerburry-Perseverance shear zone.
• The project is within 50 km from numerous operating gold mines, including: Thunderbox, Darlot and King of the Hills. The project is also proximal to existing infrastructure and well serviced towns, ensuring support for field activities.
• The project includes two main exploration packages, Jungle Well (Kalgoorlie Terrane) and Brilliant Well (Kurnalpi Terrane).
• Gold has been mined at Jungle Well, with mining of a shallow oxide pit in 1996. Historic exploration has also targeted Komatiite-hosted Nickel. PVW believes there exists significant Au and Ni potential which will be determined through exploration.
• Brilliant Well covers a complicated greenstone/granite gneiss contact of the Leonora Eastern Domain. Significant historic Au and base metal intercepts have highlighted an area of interest which displays strong exploration potential.

Mineral Resource Statement

Given the positive results and the compilation of PVW Resource NL’s maiden JORC 2012 compliant Resource at the Jungle Well Project, the complete Mineral Resource Estimate summary, and supporting information, including the JORC Table 1, sections 1-3 are included below.

Jungle Well Deposit – November Inferred Mineral Resource Estimate (0.5g/t Au Cut-off)

Note: The Mineral Resource has been compiled under the supervision of Mr. Shaun Searle who is a director of Ashmore Advisory Pty Ltd and a Registered Member of the Australian Institute of Geoscientists. Mr. Searle has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that he has undertaken to qualify as a Competent Person as defined in the JORC Code.

All Mineral Resources figures reported in the table above represent estimates at November 2019. Mineral Resource estimates are not precise calculations, being dependent on the interpretation of limited information on the location, shape and continuity of the occurrence and on the available sampling results. The totals contained in the above table have been rounded to reflect the relative uncertainty of the estimate. Rounding may cause some computational discrepancies.

Mineral Resources are reported in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (The Joint Ore Reserves Committee Code – JORC 2012 Edition).

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