ActivEX : Gilberton & Ravenswood Gold Projects Exploration Results

GILBERTON & RAVENSWOOD GOLD PROJECTS EXPLORATION RESULTS | ASX RELEASE 28.10.2020

ASX Code: AIV

Issued Capital

177,162,676 ordinary shares (AIV)

Market Capitalisation

$21.26M (27 October 2020, $0.12)

Directors

Min Yang (Chairman, NED)

Mark Derriman (Executive Director) Geoff Baker (NED)

Dongmei Ye (NED)

Louis Chien (Alternate Director to Min Yang)

About ActivEX

ActivEX Limited is a minerals exploration company committed to the acquisition, identification, and delineation of new resource projects through active exploration.

The ActivEX portfolio is focussed on copper and gold projects, with substantial tenement packages in

the north and southeast Queensland and in the Cloncurry district of northwest Queensland.

The Company also has an advanced potash project in Western Australia where it is investigating optimal leaching methods for extraction and production of potash and by-products.

Suite 2, 3B Macquarie Street

Sydney, NSW 2000

[e-mail]

www.activex.com.au

Phone [phone]

ABN 11 113 452 896

GILBERTON & RAVENSWOOD GOLD PROJECTS

EXPLORATION RESULTS

ActivEX Limited (ASX: AIV) ("ActivEX" or "the Company") provides the following summary of Gilberton and Ravenswood Gold Projects exploration results.

Summary and Highlights

• An 8,599line-km airborne magnetic and radiometric survey has been flown over
  ActivEX's Gilberton Gold Project.
• A 1:50,000 scalelitho-structural interpretation and targeting review was completed based on the magnetic and radiometric has been finalised over ActivEX's Gilberton Gold Project.
• Geological mapping at 1: 2,000 scale was completed in EPM 18637 King Solomon within the Ravenswood Project.
• In conjunction with the geological mappingfifty-five (55) rock chip samples were collected in the King Solomon - Rose of Allandale area (EPM 18637). 13 samples exceeded 1.0 g/t Au with the highest result reported for a sample of quartz vein material from a mullock pile at King Solomon with results including 145g/t gold 16.45g/t silver.

Figure 1.ActivEX Limited Gilberton and Ravenswood Gold Projects

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GILBERTON & RAVENSWOOD GOLD PROJECTS EXPLORATION RESULTS | ASX RELEASE 28.10.2020

ActivEX Limited ('ActivEX' or the 'Company') is pleased to announce the summary of Gilberton and Ravenswood Gold Projects exploration results.

Gilberton Gold Project

The Gilberton Gold Project is situated in the Georgetown Province in northeast Queensland, approximately 300km west-northwest of Townsville (Figure 2). The Project is in an area which is prospective for several metals (Au, Ag, Cu, Ta-Nb, Co) and a wide range of deposit styles (plutonic IRGS, porphyry breccia, and epizonal / epithermal IRGS). The world-class Kidston breccia hosted Au-Ag deposit occurs in similar geological terrain approximately 50km to the northeast. The Project consists of EPMs 18615 (Mt Hogan), 18623 (Gilberton), 26232 (Gum Flat) and 26307 (Split Rock). The Project comprises a total of 114 sub-blocks and encompasses an area of 369km2. ActivEX Limited holds 100% interest in all the tenements.

A project scale geophysical review with reprocessing of historic datasets was finalised within Gilberton Gold Project. In addition, a 50m line spacing airborne magnetic and radiometric survey has been carried by Thomson Aviation. A total of 8,599 line-km airborne geophysical survey has been completed over ActivEX's Gilberton Gold Project. It followed with a 1:50,000 scale litho-structural interpretation. The interpretation was based on a composite, merged grid of newly acquired high resolution 50m data and open file, 200m, and 400m airborne magnetic and radiometric data which has been processed by Southern Geoscience Consultants.

A total of 87 targets have been selected based primarily on structural setting and proximity to zones of alteration (Figure 3). Of these 87 targets, 17 have been assigned as high priority. It has been recommended that the targets will be initially correlated with available geochemical, drilling, and other information to further establish the validity of, or change, the assigned priorities.

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GILBERTON & RAVENSWOOD GOLD PROJECTS EXPLORATION RESULTS | ASX RELEASE 28.10.2020

Figure 2. ActivEX Limited Gilberton Gold Project regional geology, tenements, prospect and rock chips thematically mapped by Au content.

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GILBERTON & RAVENSWOOD GOLD PROJECTS EXPLORATION RESULTS | ASX RELEASE 28.10.2020

Figure 3: 1:50,000 Scale Lithostructural Interpretation of the Gilberton Project.

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GILBERTON & RAVENSWOOD GOLD PROJECTS EXPLORATION RESULTS | ASX RELEASE 28.10.2020

Ravenswood Gold Project

The Ravenswood Gold Project is situated in the Charters Towers Province in northeast Queensland, approximately 60km south of Charters Towers (Figure 4). The Project consists of EPMs 18424, 18637, 18426, 25466 and 25467, which comprise a total of 104 sub-blocks and encompass an area of 335km2. ActivEX Limited currently holds 100% interest in all tenements (Figure 4), with Ballymore Resources Pty Ltd earning-in to the tenements. Ballymore Resources Pty Ltd has yet to earn an interest in the tenements.

The King Solomon - Rose of Allandale area (EPM 18637) was mapped at 1:2000 scale (Figure 5). The mapping area covers an area dominated by adamellite assigned to the Ordovician Pocket Dam Granite and minor granite in the southern part of the mapped area, assigned to Lavery Creek Granite. The mapping area has been intruded by a series of aplite and fine-grained, biotite granite dykes and also a series of diorite and gabbro dykes striking east-northeast. The area is interpreted to represent an east-northeast trending fault zone parallel to the east-west trending Alex Hill Shear Zone, which occurs approximately 1 kilometre north of EPM 18637. The magnetics data suggests that the area is underlain by a more extensive mafic intrusive stock.

Structures identified within the mapping area are dominated by east-west and northwest-southeast structures. This area hosts substantial historic workings (i.e. pits and shafts in the King Solomon and Rose of Allandale prospect areas) with the majority of workings located within the diorite intrusives. Mineralisation at King Solomon and Rose of Allandale occur in in shears up 6 metres in width, with mineralisation hosted within the shear zones in steeply dipping quartz and calcite veining. Mineralisation appears to be often localised along east-west trending contacts between adamellite and diorite intrusives and associated with andesite dykes.

As part of the mapping program, a total of 55 rock chip samples were collected in the King Solomon - Rose of Allandale area (Figure 6). A total of 20 rock chips exceeded 0.1 ppm Au and 13 samples exceeded 1.0 g/t Au with the highest result reported for a mullock sample of quartz vein material collected from a pit at King Solomon with results including 145.0ppm Au, 16.45ppm Ag and 481ppm As.

A rock chip sampling program was also completed at Pinnacle Creek (EPM 18424) and a total of 37 samples were collected for analysis. In total, 23 samples exceeded 1ppm Au and 5 samples exceeded 10ppm Au. The most significant rock chip reported 304ppm Au, 110ppm Ag, 0.62% Pb, 149.5ppm As, 717ppm Cu, and 0.13% Zn. This sample was a subcrop sample collected from near pits located beside the road in the southern part of the prospect area. Many samples that are elevated in gold are also elevated in silver and lead. Other maximum assay results include 126ppm Ag, 707ppm As, 0.78% Cu, 8.85% Pb and 0.94% Zn.

The purpose of this sampling program was to assess the distribution of veins in the area. Several veins were identified in outcrop in creek beds and many samples are mullock samples from historic workings as well as float samples that are interpreted to be residual samples (i.e. near in situ). Anomalous rock chip samples have been defined over an area of 400m x 200m. Further work shall be completed to better evaluate the lateral extent of this zone next field season. The area is recessive with veins typically only exposed in creeks with significant shallow transported cover. There is potential that the zone extends under cover and it may be warranted testing with shallow RAB or similar.

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GILBERTON & RAVENSWOOD GOLD PROJECTS EXPLORATION RESULTS | ASX RELEASE 28.10.2020

Figure 4.ActivEX Limited Ravenswood Gold Project tenement and prospect locations.

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GILBERTON & RAVENSWOOD GOLD PROJECTS EXPLORATION RESULTS | ASX RELEASE 28.10.2020

Figure 5:King Solomon - Rose of Allandale 1:2000 Scale Geology Plan.

Figure 6:King Solomon - Rose of Allandale Rock Chip Sample Location

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GILBERTON & RAVENSWOOD GOLD PROJECTS EXPLORATION RESULTS | ASX RELEASE 28.10.2020

Figure 7:Pinnacle Creek Rock Chip Sample Location

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GILBERTON & RAVENSWOOD GOLD PROJECTS EXPLORATION RESULTS | ASX RELEASE 28.10.2020

Table 1: King Solomon - Rose of Allandale Rock Chip Results

							East AGD95			North						Ag						Cu						Mo			Pb						Sb			Te			Zn
	Sample_id			Sample_type					AGD94 Zone			Au ppm					As ppm					Fe %							S %
					Zone 55							ppm					ppm					ppm			ppm					ppm			ppm			ppm
									55
	ROA001		Mullock	455079		7796239		31.2		1.3		14.5		78.3		2		0.91		141		0		19.2		<0.05		104
	ROA002		Mullock	455811		7795945		0.063		0.39		16.7		3.5		1		0.22		8.7		0		0.18		<0.05		37
	ROA003		Mullock	455933		7795808		3.96		0.76		3900		4.6		1		0.18		20.7		0		16.5		<0.05		55
	ROA004		Mullock	455930		7795786		0.034		0.14		18.4		8		5		0.22		5.2		0		2.17		<0.05		45
	ROA005		Subcrop	455708		7795881		0.081		1.14		118		4.6		3		1.16		7.7		0		1.37		0.05		19
	ROA006		Mullock	455665		7795281		18.7		60.8		3050		586		3		0.77		822		2		135		<0.05		385
	ROA007		Mullock	455672		7795285		5.4		34.7		370		277		2		0.61		961		1		46.1		<0.05		66
	ROA008		Mullock	455581		7795185		7.22		22.4		>10000		732		3		1.5		3120		2		109		<0.05		123
	ROA009		Float	456792		7795175		2.17		>100		72.8		633		4		1.63		8530		1		4.43		16.9		865
	ROA010		Mullock	456778		7795180		5.85		>100		263		672		10		13.7		6370		1		5.01		50.3		249
	ROA011		Scree	456834		7794511		0.065		0.64		17.3		6.4		3		0.62		22.9		0		0.69		0.05		8
	ROA012		Subcrop	456983		7795343		0.093		0.82		12.9		40.4		5		0.37		38.5		0		1.44		<0.05		64
	ROA013		Outcrop	455096		7797057		1.375		42.6		1910		18		1		4.19		274		0		31.5		<0.05		20
	ROA014		Mullock	455814		7795947		0.086		1.16		16.4		7.9		1		0.44		57.9		0		0.28		0.08		42
	ROA015		Mullock	455799		7795953		2.77		1.73		12.2		29.4		2		0.66		108		0		0.45		0.48		152
	ROA016		Mullock	455799		7795956		0.149		0.2		8.8		3.8		1		0.72		7		0		0.35		<0.05		28
	ROA017		Mullock	455722		7795962		0.136		0.1		29.9		29.4		3		0.42		7.6		0		0.66		<0.05		42
	ROA018		Mullock	455726		7795953		0.008		0.17		7.4		6.4		1		0.11		9.7		0		0.3		<0.05		17
	ROA019		Mullock	455790		7795934		0.023		0.43		139		3.6		3		0.4		15		0		4.63		<0.05		28
	ROA020		Mullock	455783		7795939		0.195		0.32		419		2.7		1		0.21		5.6		0		9.53		<0.05		10
	ROA021		Mullock	455910		7795933		0.332		0.34		1270		14.3		2		0.32		16.7		0		10.5		<0.05		78
	ROA022		Mullock	455917		7795931		0.009		0.05		25.9		22.1		6		0.18		4.4		0		0.74		<0.05		82
	ROA023		Mullock	455932		7795923		0.002		0.17		31.1		7.8		1		0.18		9.6		0		0.8		<0.05		15
	ROA024		Mullock	455927		7795915		7.61		10.2		>10000		158		4		0.34		48		1		109		<0.05		107
	ROA025		Mullock	455934		7795884		0.054		0.38		99.4		6.7		1		0.18		12.2		0		1.68		<0.05		18
	ROA026		Mullock	455921		7795839		0.063		0.42		79.2		6.4		2		0.46		4.1		0		2.46		<0.05		31
	ROA027		Mullock	455937		7795820		145		16.5		481		3		1		0.18		14.4		0		14.3		<0.05		38
	ROA028		Mullock	455931		7795813		0.59		0.23		240		1.9		1		0.17		7.2		0		2.52		<0.05		17
	ROA029		Mullock	455948		7795788		0.022		0.15		42.6		2.9		6		0.08		6.7		0		1.52		<0.05		56
	ROA030		Mullock	455946		7795790		0.003		0.16		17		2.4		4		0.17		4.1		0		1.61		<0.05		46
	ROA031		Mullock	455947		7795788		0.005		0.09		5.5		2.3		5		0.08		4.6		0		1.26		<0.05		53
	ROA032		Mullock	455948		7795788		0.003		0.13		13.5		2.1		4		0.13		4.6		0		1.63		<0.05		44
	ROA033		Mullock	455952		7795790		0.007		0.15		14.7		8.8		5		0.25		4.1		0		2.47		<0.05		45
	ROA034		Outcrop	455510		7795963		0.018		0.08		8.8		4.2		1		0.32		10.9		0		0.59		<0.05		7
	ROA035		Float	455508		7795954		0.007		0.06		5.2		2.2		2		0.09		8.5		0		0.73		<0.05		61
	ROA036		Mullock	455737		7795823		2.89		3.99		8.3		69.3		2		0.32		320		0		0.63		0.11		94
	ROA037		Mullock	456152		7795661		0.23		2.26		5.5		6490		2		1.12		9.2		0		1.16		<0.05		24
	ROA038		Subcrop	456193		7795598		0.01		0.15		33.2		116		37		15.4		51.4		2		0.55		5.63		19

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GILBERTON & RAVENSWOOD GOLD PROJECTS EXPLORATION RESULTS | ASX RELEASE 28.10.2020

							East AGD95			North						Ag						Cu						Mo			Pb						Sb			Te			Zn
	Sample_id			Sample_type					AGD94 Zone			Au ppm					As ppm					Fe %							S %
					Zone 55							ppm					ppm					ppm			ppm					ppm			ppm			ppm
									55
	ROA039		Subcrop	456191		7795602		0.006		0.06		41.1		57.3			44		11.7		21.1		1		0.41		9.18		11
	ROA040		Subcrop	456207		7795624		<0.001		0.07		2		40.2			4		0.22		6.1		0		1.77		0.06		30
	ROA041		Subcrop	456020		7795447		0.031		0.71		46.3		44.7			4		0.33		10.3		0		3.96		<0.05		211
	ROA042		Subcrop	456086		7795427		0.004		0.03		3.2		15.6			0		0.07		6.3		0		0.12		<0.05		5
	ROA043		Outcrop	455931		7796192		0.009		0.09		27.4		5.3			5		0.47		3.3		0		3.9		0.05		36
	ROA044		Outcrop	455918		7796175		0.002		0.09		10.8		3.8			3		0.44		4.8		0		2.41		0.1		31
	ROA045		Outcrop	455941		7796157		0.001		0.06		16.1		4.9			4		0.26		3.2		0		5.22		<0.05		30
	ROA046		Outcrop	455937		7796154		0.005		0.07		13.7		2.5			5		0.2		5.7		0		2.34		<0.05		40
	ROA047		Subcrop	456491		7794554		0.002		0.11		8.9		5.6			6		0.12		14.9		0		0.87		<0.05		271
	ROA048		Mullock	455997		7795056		0.122		12.2		7.9		3720			8		0.47		388		0		1.08		0.95		415
	ROA049		Outcrop	456563		7795312		0.001		0.1		1.9		18.2			4		0.13		5.3		0		0.46		<0.05		31
	ROA050		Outcrop	456594		7795311		1.615		9.67		33.4		127			2		2.56		71.5		0		36.7		1.01		29
	ROA051		Subcrop	456467		7795852		0.004		0.21		52.4		131			3		5.21		3.4		0		0.46		0.29		2
	ROA052		Outcrop	455943		7796166		0.015		0.03		9.1		7.9			4		0.34		4		0		1.48		<0.05		33
	ROA053		Subcrop	455948		7796156		0.017		0.36		5		120			3		0.15		25.2		0		1.65		0.06		58
	ROA054		Subcrop	456886		7795539		0.016		0.3		15.6		107			4		141		34.3		0		0.38		2.07		4
	ROA055		Subcrop	455393		7795568		0.08		0.17		18.3		17.9			1		1.67		12.4		0		33.5		<0.05		4
										Table 2: Pinnacle Creek Rock Chip Results
							East AGD95			North						Ag						Cu						Mo			Pb						Sb			Te			Zn
	Sample_id			Sample_type					AGD94 Zone			Au ppm					As ppm					Fe %							S %
					Zone 55							ppm					ppm					ppm			ppm					ppm			ppm			ppm
									55
SMM083	Subcrop	428513		7759807		304		110		149.5		717			6.58		38.1		6210		0.17		14.35		26.8		1270
SMM079	Mullock	428495		7760086		16.4		83.1		707		667			3.54		19.85		65800		0.22		60.8		4.15		713
SMM078	Float	428529		7760021		16		126		142		1120			2.37		41.4		78700		0.37		58.8		1.44		505
SMM077	Mullock	428498		7760084		12.9		101		242		1200			3.15		15.3		88500		0.55		74.7		1.45		724
SMM087	Float	428691		7759859		11.7		70.8		482		607			9.62		366		4250		0.71		10.1		1.96		1940
SMM095	Outcrop	428421		7760128		9.52		91		138		1010			2.4		4.66		64100		0.37		27.8		0.66		326
SMM076	Mullock	428526		7760067		7.27		23.3		241		1060			3.62		37.4		5330		0.11		7.5		1.5		948
SMM097	Float	428493		7759950		3.51		19.45		225		307			4.35		6.98		767		0.15		4.37		2.74		426
SMM096	Outcrop	428379		7760070		3.06		4.94		75		388			4.57		43.5		346		0.47		4.39		0.92		9440
SMM082	Mullock	428581		7760048		2.71		41.9		291		671			3.43		10		1410		1.13		4.81		0.24		399
SMM101	Outcrop	428689		7759965		2.71		52.8		409		1900			7.45		261		8330		0.57		16.9		0.75		2820
SMM085	Float	428549		7759894		2.48		62.9		346		499			9.05		91.9		4600		0.47		11.2		9.62		854
SMM081	Subcrop	428566		7760049		2.43		75.3		474		1110			4.12		258		14050		0.39		16.85		1.09		434
SMM102	Outcrop	428682		7759903		2.18		26.3		375		850			9.47		2390		26700		0.99		22.5		1.5		1580
SMM100	Outcrop	428592		7759947		1.705		14.55		157		275			8.11		838		1100		0.07		3.17		7.78		705
SMM099	Outcrop	428561		7759945		1.6		15.35		58.2		218			6.29		243		1270		0.31		3.31		5.82		369
SMM106	Float	428938		7760315		1.5		25.9		262		338			7.43		237		3610		0.28		9.38		5.42		556
SMM075	Mullock	428558		7760045		1.445		47.4		287		7840			8.49		63.8		2340		0.28		5.82		2.43		1940

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GILBERTON & RAVENSWOOD GOLD PROJECTS EXPLORATION RESULTS | ASX RELEASE 28.10.2020

							East AGD95			North						Ag						Cu						Mo			Pb						Sb			Te			Zn
	Sample_id			Sample_type					AGD94 Zone			Au ppm					As ppm					Fe %							S %
					Zone 55							ppm					ppm					ppm			ppm					ppm			ppm			ppm
									55
	SMM089		Float	428847		7759587		1.41		23.7		519		198		7.23		96.4		5620		0.64		13.15		6.32		1030
	SMM098		Float	428511		7759866		1.255		32.8		243		357		5.18		54.3		1990		0.11		9.59		2.99		1220
	SMM090		Outcrop	428699		7759892		1.155		16.95		476		327		10.4		935		1240		0.3		5.56		0.9		2730
	SMM086		Float	428654		7759850		1.12		24		46.9		405		10.65		219		774		0.31		2.29		3.03		1570
	SMM107		Float	428937		7760139		1.015		29.9		9.5		59.8		1.44		129		6390		0.07		14.65		1.25		59
	SMM084		Subcrop	428541		7759928		0.919		10.2		282		384		7		47.5		1300		0.11		9.51		2.67		1060
	SMM091		Outcrop	428745		7759939		0.792		3.92		93.3		617		3.6		43.4		1370		0.01		2.7		0.32		5220
	SMM092		Outcrop	428471		7760017		0.769		8.17		57.4		240		4.53		193		517		0.2		3.06		2.96		646
	SMM093		Float	428445		7760052		0.624		14.45		31.9		169		1.34		1.61		6810		0.05		10.85		0.55		73
	SMM088		Float	428792		7759841		0.509		8.63		25.9		47.1		1.45		18.8		730		0.03		4.57		1.33		56
	SMM103		Outcrop	431916		7760198		0.313		1.92		52.1		29.6		1.74		7.82		71.4		0.13		22		0.4		35
	SMM108		Subcrop	428910		7760046		0.271		18.55		64.3		139		2.83		21.2		15250		0.11		37.3		1.67		164
	SMM080		Outcrop	428470		7760105		0.192		3.84		46.2		325		4.58		5.26		879		0.01		3.12		2.23		1990
	SMM105		Float	432098		7760055		0.188		3.77		28		564		6.94		48.3		74.4		0.06		5.58		2.18		122
	SMM104		Subcrop	431964		7760265		0.136		21.1		250		170		4.14		19.05		75.8		0.25		33.3		0.39		158
	SMM074		Mullock	429722		7759632		0.028		2.99		66.9		38.9		5.76		87.3		4230		0.15		5.71		5.04		174
	SMM109		Outcrop	428910		7759925		0.017		11.15		10.6		14		1.35		19.15		199		0.02		1.4		0.12		44
	SMM073		Subcrop	429657		7759890		0.015		0.16		373		36.8		12.15		181.5		15.6		0.02		2.35		0.14		392
	SMM094		Float	428455		7760083		0.005		0.27		22.9		71.8		>50		1.37		47.4		0.03		2.24		0.27		79

This announcement is authorised by the Board of ActivEX Limited

For further information contact:

Mr Mark Derriman, Executive Director

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Appendix 1

Declarations under 2012 JORC Code and JORC Tables

The information in this report which relates to Exploration Results is based on information reviewed by Mr. Mark Derriman, who is a member of The Australian Institute of Geoscientists (1566) and Mr. Xusheng Ke, who is a Member of the Australasian Institute of Mining and Metallurgy (310766) and a Member of the Australian Institute of Geoscientists (6297).

Mr. Mark Derriman and Mr. Xusheng Ke have sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activities 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. Mark Derriman and Mr. Xusheng Ke consent to the inclusion of his name in this report and to the issue of this report in the form and context in which it appears.

Previous Disclosure - 2012 JORC Code

Information relating to Mineral Resources, Exploration Targets and Exploration Data associated with previous disclosures relating to the Pentland Gold Project in this report has been extracted from the following ASX Announcements:

• ASX announcement titled "Ravenswood Gold Project Exploration Results" dated 24 July 2020.

Copies of reports are available to view on the ActivEX Limited website www.activex.com.au. These reports were issued in accordance with the 2012 Edition of the JORC Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcement.

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JORC Code, 2012 Edition - Table 1 report

Section 1 Sampling Techniques and Data

	Criteria		JORC Code explanation			Commentary
	Sampling	•Nature and quality of sampling (eg cut channels, random chips, or specific		•Random rock samples were collected at the King Solomon - Rose of Allandale area
	techniques	specialised industry standard measurement tools appropriate to the minerals under		and Pinnacle Creek.
			investigation, such as down hole gamma sondes, or handheld XRF instruments, etc).		•The samples were taken using a standard geo-pick with the samples collected in
			These examples should not be taken as limiting the broad meaning of sampling.
			•Include reference to measures taken to ensure sample representivity and the		numbered calico bags
			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 (eg '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 (eg submarine
			nodules) may warrant disclosure of detailed information.
	Drilling	•Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger,		•Drilling data is not being reported.
	techniques	Bangka, sonic, etc) and details (eg 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).
	Drill sample	•Method of recording and assessing core and chip sample recoveries and results		•Drilling data is not being reported.
	recovery	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.
	Logging	•Whether core and chip samples have been geologically and geotechnically logged to		•Drilling data is not being reported.
			a level of detail to support appropriate Mineral Resource estimation, mining studies

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	Criteria		JORC Code explanation		Commentary
				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.
	Sub-sampling		•	If core, whether cut or sawn and whether quarter, half or all core taken.		•Rock samples obtained using geo-pick and collected in calico bag.
	techniques		•	If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet		•Rock samples sent for laboratory analysis to ALS Global, Townsville laboratory for
	and sample
			or dry.		sample preparation with subsequent analysis at the ALS Global Brisbane
	preparation		•	For all sample types, the nature, quality and appropriateness of the sample		Geochemistry Laboratory.
				•Assays were conducted using standard procedures and standard laboratory checks,
				preparation technique.
			•	Quality control procedures adopted for all sub-sampling stages to maximise		for Au by Au-ICP22 and a 50 element suite by ME-MS61.
				•The nature and quality of the sample preparation technique is considered appropriate
				representivity of samples.
			•	Measures taken to ensure that the sampling is representative of the in situ material		for the mineralisation style.
				•The samples sizes are appropriate for the material being sampled.
				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.
	Quality of		•	The nature, quality and appropriateness of the assaying and laboratory procedures		•The nature and quality of the assaying and laboratory procedures used is considered
	assay data			used and whether the technique is considered partial or total.		appropriate for the mineralisation style.
	and laboratory		•	For geophysical tools, spectrometers, handheld XRF instruments, etc, the
	tests			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 (eg standards, blanks, duplicates,
				external laboratory checks) and whether acceptable levels of accuracy (ie lack of
				bias) and precision have been established.
	Verification of		•	The verification of significant intersections by either independent or alternative		•Laboratory results and associated QAQC documentation are stored digitally.
	sampling and			company personnel.		•Lab data is integrated into a Company Access database.
	assaying		•
		The use of twinned holes.		•All results were verified by Senior Management

•Documentation of primary data, data entry procedures, data verification, data storage

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	Criteria			JORC Code explanation			Commentary
					(physical and electronic) protocols.
				•Discuss any adjustment to assay data.
	Location of		•	Accuracy and quality of surveys used to locate drill holes (collar and down-hole		•Location of rock chip samples was recorded by handheld Garmin GPS device.
	data points			surveys), trenches, mine workings and other locations used in Mineral Resource		•Co-ordinates are recorded in grid system MGA94, Zone 55.
					estimation.
				•	Specification of the grid system used.		•Refer to Table 1 for location of rock samples.
				•Quality and adequacy of topographic control.
	Data spacing		•	Data spacing for reporting of Exploration Results.		•No sample compositing has been applied.
	and		•	Whether the data spacing, and distribution is sufficient to establish the degree of		•The data spacing is appropriate for the reporting of exploration results
	distribution
			geological and grade continuity appropriate for the Mineral Resource and Ore
					Reserve estimation procedure(s) and classifications applied.
				•Whether sample compositing has been applied.
	Orientation of		•	Whether the orientation of sampling achieves unbiased sampling of possible		•No sample compositing has been applied.
	data in			structures and the extent to which this is known, considering the deposit type.
	relation to		•	If the relationship between the drilling orientation and the orientation of key
	geological			mineralised structures is considered to have introduced a sampling bias, this should
	structure			be assessed and reported if material.
	Sample		•	The measures taken to ensure sample security.		•Sample bags were packed in batches into polyweave bags, secured by plastic tie
	security						wires, for transport.
								•Samples were transported to laboratory in Townsville by Ballymore Resources
								personnel.
	Audits or		•	The results of any audits or reviews of sampling techniques and data.		•Standard laboratory procedure for laboratory samples.
	reviews						•In-house review of QAQC data for laboratory samples.

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Section 2 Reporting of Exploration Results

	Criteria		JORC Code explanation		Commentary
	Mineral		•Type, reference name/number, location and ownership including agreements or		•Rock chip sampling was conducted on EPM 18637 and EPM 18424 which are held
	tenement and		material issues with third parties such as joint ventures, partnerships, overriding		by ActivEX Limited (100%), see Figure 1 for location.
	land tenure		royalties, native title interests, historical sites, wilderness or national park and		•EPM 18637 and EPM 18424 form part of the ActivEX Ravenswood Gold Project.
		environmental settings.
	status
		•The security of the tenure held at the time of reporting along with any known		•EPMs 18424, 25467 and 18426 are subject to an Exploration Agreement with the
				Birriah People. EPMs 18424 and 25466 were granted under the Native Title
			impediments to obtaining a licence to operate in the area.
				Protection Conditions and currently there is no Native Title Claim over the tenements.
					•Airborne geophysical survey was conducted on EPMs 18615, 18623, 26232 and
					26307 which are held by ActivEX Limited (100%), see Figure 1 for location.
					•EPMs 18615, 18623, 26232 and 26307 form part of the ActivEX Gilberton Gold
					Project.
					•The Gilberton Gold Project tenements were granted under the Native Title Protection
					Conditions. The Ewamian People are the Registered Native Title Claimant for the
					Project area.
	Exploration		•Acknowledgment and appraisal of exploration by other parties.		•Previous exploration has been dominantly carried out in Ravenswood Gold Project
	done by other				by McIntyre Mines (Australia), Camira Mines, Aberfoyle Exploration, Metals
					Exploration, MIM Exploration, Rishton (Gold), and Carpentaria Gold. Work included

	parties	geophysics, mapping, rock chip, soil and stream sediment sampling, trenching and
		drilling.
		•Numerous companies have carried out surface exploration programs in the Gilberton
		Gold Project area and several occurrences have had limited (and mainly shallow) drill
		testing. The most recent exploration in the area was carried out by Newcrest Mining,
		who conducted extensive grid soil sampling, local ground geophysical surveys, and
		limited diamond drilling.
		•Metallogenic Study of The Georgetown, Forsayth And Gilberton Regions, North
		Queensland, Dr Gregg Morrison, etc., 2019.
		•For additional information, refer to the ActivEX website
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	Criteria		JORC Code explanation		Commentary
					(http://activex.com.au/projects/ravenswood-gold/).
	Geology	•Deposit type, geological setting and style of mineralisation.	•The Ravenswood Gold Project tenements are located in the Charters Towers
					Province within the Thompson Orogen. The Charters Towers Province is
					characterized by Neoproterozoic to early Palaeozoic assemblages.
					•The geology of the Ravenswood Gold Project area is dominated by Ordovician-
					Silurian granitoids of the Macrossan association which crop out as plutons and
					screens between Silurian - Devonian granitoids of the Pama association. Rocks of
					the Late Cambrian - Early Ordovician Seventy Mile Range Group occur in the
					southwest of the Project area, in the southern sub-blocks of EPM 18424.
					Carboniferous to Permian intrusive and extrusive rocks of the Kennedy association
					occur scattered throughout the Project area.
					•EPM 18424 is located in an area dominated by Macrossan Province Ordovician-
					Silurian granitoids, including the Silurian-Devonan Deane Granodiorite which has
					been intruded by the Devonian Matthews Pinnacle Quartz Diorite which have been
					intruded by younger andesite, quartz-feldspar porphyry and dacite dykes. The
					dominant Deane Granodiorite and Matthews Pinnacle Quartz Diorite units host most
					of the known gold occurrences within the EPM.
					•EPM 18424 is located within the Mount Leyshon Corridor, a broad zone trending
					several kilometres northeast from the Mount Leyshon deposit and encompassing a
					number of occurrences of highly altered and mineralised breccias associated with
					Carboniferous - Permian intrusions. Within this corridor, several types of breccias
					have been mapped in the Seventy Mile Mount - Matthews Pinnacle area, including
					intrusive breccias, hydrothermal crackle breccias and tectonic breccias. All of these
					breccias host gold mineralisation and are interpreted to be associated with the
					Permo-Carboniferous hydrothermal event and often exhibit intense potassic (K-
					feldspar - biotite-chlorite) and phyllic (silica-sericite +/- pyrite) alteration. .
					•Major hydrothermal breccia systems identified within the mapping area include
					Seventy Mile Mount, Middle Mount and Matthews Pinnacle. The breccia pipes form
					topographic highs along this corridor and have many similarities with Mount Leyshon.
					The breccia systems are interpreted to have developed in response to the intrusion
					of Permo-Carboniferous intrusions. Other major examples of hydrothermal breccias
					in the region that host significant gold deposits, including Mount Leyshon (3.8Moz

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	Criteria		JORC Code explanation		Commentary
					Au) and Mount Wright (1Moz Au).
					•Gold mineralisation in the Seventy Mile Mount - Matthews Pinnacle area is typically
					associated with quartz +/- carbonate veins and breccias.
					•The geology of Gilberton Project area is dominated by Proterozoic metamorphics and
					granites, with local mid-Palaeozoic intrusions, fault-bounded Devonian basins, and
					Early Permian volcanics and intrusions of the Kennedy Association.
					•The main units occurring within the Project area are:
					•Metamorphic units of the Proterozoic Etheridge group consisting mainly of
					calcareous sandstone, siltstone, shale, limestone units of the Bernecker Creek and
					Daniel Creek Formations; basic metavolcanics, metadolerite and metagabbro of the
					Dead Horse Metabasalt and Cobbold Metadolerite; gneiss and schist of the
					Einasleigh Metamorphics in the north east of EPM 18623.
					•Siluro-Devonian Robin Hood Granodiorite in the north of the tenement area.
					•Late Devonian sediments of the Gilberton Formation in two fault-bounded structures
					in the central project area, consisting of pebbly coarse sandstone grading to coarse
					arkosic sandstone and polymict conglomerate.
					•A north-west trending group of Early Permian volcanics considered to be related to
					the Agate Creek Volcanic Group (basalt, andesite, rhyolite, agglomerate, ignimbrite,
					minor interbedded siltstone and air-fall tuff), in the south west of EPM 18623.
					•Carboniferous - Permian intrusive rhyolites as small outcrops associated with the
					Early Permian Agate Creek Volcanics, and as a more extensive east-west trending
					intrusion and network of dykes in the north, around the Lower Percy gold field.
					•Mesozoic sandstones and pebble conglomerates, occurring mainly in the north west
					of the tenement area, and forming dissected plateaux and mesas.
	Drill hole	•A summary of all information material to the understanding of the exploration results	•Drilling data is not being reported.
	Information	including a tabulation of the following information for all Material drill holes:
			oeasting and northing of the drill hole collar
			oelevation or RL (Reduced Level - elevation above sea level in metres) of the drill

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	Criteria			JORC Code explanation			Commentary
				hole collar
				odip and azimuth of the hole
				odown hole length and interception depth
				ohole 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.
	Data		•In reporting Exploration Results, weighting averaging techniques, maximum and/or		•No data aggregation applied.
	aggregation		minimum grade truncations (eg cutting of high grades) and cut-off grades are usually
	methods		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.
	Relationship		•These relationships are particularly important in the reporting of Exploration Results.		•Drill hole data not being reported.
	between		•If the geometry of the mineralisation with respect to the drill hole angle is known, its
	mineralisation
		nature should be reported.
	widths and		•If it is not known and only the down hole lengths are reported, there should be a clear
	intercept
		statement to this effect (eg 'down hole length, true width not known').
	lengths
	Diagrams		•Appropriate maps and sections (with scales) and tabulations of intercepts should be		•Refer to enclosed maps and diagrams.
				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.
	Balanced		•Where comprehensive reporting of all Exploration Results is not practicable,		•Drill hole data not being reported.
	reporting		representative reporting of both low and high grades and/or widths should be

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	Criteria		JORC Code explanation	Commentary
			practiced avoiding misleading reporting of Exploration Results.
	Other		•Other exploration data, if meaningful and material, should be reported including (but	•Refer to body of report for additional geological observations.
	substantive		not limited to): geological observations; geophysical survey results; geochemical
	exploration		survey results; bulk samples - size and method of treatment; metallurgical test
		results; bulk density, groundwater, geotechnical and rock characteristics; potential
	data
		deleterious or contaminating substances.
	Further work		•The nature and scale of planned further work (eg tests for lateral extensions or depth	•Refer to body of report for further work plans.
			extensions or large-scalestep-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.

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