Bardoc Gold : North Kanowna star emerges as a major exploration target

8 FEBRUARY 2021

ASX/MEDIA RELEASE

NORTH KANOWNA STAR EMERGES AS A MAJOR EXPLORATION TARGET FOLLOWING OUTSTANDING NEW AIR-CORE RESULTS

Recent drilling confirms an extensive new gold trend with multiple target zones defined

over a +3km strike length

Key Points:

• North Kanowna Star, easily accessed via existing roads, is located 29km SE of the proposed process plant, emerging as an important exploration and growth opportunity for Bardoc with results from air- core drilling undertaken in late 2020 returning significant results, including:
• • 15m @ 1.11g/t Au from 52m in NKA200380
  • 7m @ 1.95g/t Au from 44m in NKA200373
• These results support the ASX announcement of 5 November 2020, which included:
• • 21m @ 1.56g/t Au from 36m in NKA200051
  • 15m @ 1.22g/t Au from 68m in NKA200138
  • 4m @ 3.74g/t Au from 40m in NKA200139

• • 4m @ 3.59g/t Au from 52m in NKA200200
• Multiple mineralized zones now defined within the project area over a 3.7km strike length.
• Multiple prospects require follow-up work to advance them towards possible resource definition.
• Further geological interpretation is continuing, and deeper RC drilling is underway to define the scale of the potential resource areas.
• Four drill rigs are currently on-site at the Bardoc Tectonic Zone, targeting areas outside of existing resources at Aphrodite and North Kanowna Star.
• Bardoc is presenting at the Resources Rising Stars Summer Series Investor Webinar Tuesday, 9th February 2021 at 1:30pm AEDT (Sydney/Melbourne); 12:30pm AEST (Brisbane); 10:30am WST (Perth).

Bardoc Gold Limited (ASX: BDC, Bardoc or the Company) is pleased to advise that it has intersected extensive zones of shallow gold mineralisation in wide-spacedair-core drilling at its 100%-ownedNorth Kanowna Star Project, 29km south-east of the proposed mill and infrastructure of the flagship 3.03Moz Bardoc Gold Project, located 40km north of Kalgoorlie in Western Australia.

Bardoc Gold Limited | ABN 40 125 578 743

130 Stirling Highway, North Fremantle WA 6159 | Locked Bag 4, North Fremantle WA 6159 | Australia Tel [phone] | Fax [phone]

www.bardocgold.com

The North Kanowna Star project has current Mineral Resources of 32koz Au. The results reported in this announcement confirm that there are multiple higher-grademineralised areas additional to the current Mineral Resource that require ongoing exploration to confirm their mineralised extents, with North Kanowna Star emerging as a significant long-term growth opportunity for Bardoc.

MANAGEMENT COMMENTS

Bardoc Gold's Chief Executive Officer, Mr Robert Ryan, said the Company had now defined numerous target areas across the North Kanowna Star Project which would be systematically tested over the coming months.

"The latest air-core assays from North Kanowna Star complete the current reconnaissance drilling program undertaken in late 2020. The results have changed our perception about the scale and significance of the opportunity at NKS, which is clearly emerging as a very large mineralised system.

"The drilling has defined multiple follow-up targets along a significant +3km mineralised trend, returning some exceptional results for this relatively early stage of reconnaissance exploration. RC drilling is now underway to define the scale of the potential resource areas.

"The North Kanowna Star program, together with drilling on the Bardoc Tectonic Zone, has been targeting new discoveries outside of our +3Moz resource. We are aiming to make significant new discoveries with the potential to either increase mine life or potentially increase the scale of our proposed operations at the Bardoc Gold Project.

"With exploration in full swing, we now have two clear avenues for growing shareholder value at Bardoc. One is through project development, with the Definitive Feasibility Study now in its final stages and on track for completion in late March - paving the way for project funding and a Final Investment Decision.

"The other is through organic growth and exploration - and we are now increasingly confident that we will be able to deliver significant exploration success, growth and excitement through the drill bit in the course of this year."

NORTH KANOWNA STAR RESULTS

The key results from North Kanowna Star come from the newly-definedSerengeti Prospect on a north-south trend that is 300m north-northwest of the existing 32koz Au Mineral Resource at Perseverance-Wedge. The drilling on this trend has confirmed it as a zone of significance requiring follow-up exploration.

The Serengeti Prospect is currently defined over a strike length of some 400m and remains open along strike and untested at depth.

Results from this drilling program include:

• 15m @ 1.11g/t Au from 52m in NKA200380
• 7m @ 1.95g/t Au from 44m in NKA200373
• 8m @ 0.87g/t Au from 72m in NKA2000447
• 17m @ 0.42g/t Au from 44m in NKA200369

Previously reported results from this zone (ASX Announcement 5 November 2020) included:

• 21m @ 1.56g/t Au from 36m in NKA200051
• 15m @ 1.22g/t Au from 68m in NKA200138
• 4m @ 3.74g/t Au from 40m in NKA200139
• 4m @ 3.59g/t Au from 52m in NKA200200

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• 12m @ 0.74g/t Au from 40m in NKA200061
• 21m @ 0.86g/t Au from 52m in NKA200187

The results reported here are from a 451 hole air core program for 19,599m of drilling. Assays from 28 holes are still pending.

The program has successfully identified a north-south trend in the central part of the project area, as well as gold anomalism on the northernmost line that has anomalous gold in the bottom-of-hole or close to it of over 400m in an east-west (interpreted as across-strike) direction.

Further work on this northern area is required once pXRF data is interpreted.

Geologically, the mineralisation in the central area is associated with moderate silicification of a basaltic unit which is dipping shallowly to the east, and there is minor quartz veining and arsenopyrite visible within the chips. Rock type logging is being assisted by pXRF interpretation, which is particularly helpful in weathered rocks.

The Company has also completed a regional re-sampling program of all old RAB and air-core drill holes from the 1980s onwards. This re-sampling of the old drilling has added value by improving the rock type identification using modern methods, which are cheaper than traditional assays and also have a faster turnaround time.

Having confidence in the geology, using science, allows the Company's geologists to apply exploration models that are most appropriate based on geological understanding and modern exploration practices. It is noted that the North Kanowna Star Project has had minimal exploration work undertaken over the last 20 years and is therefore under-explored using modern methods and exploration models.

The mineralisation in the two cross-sections below extends over a strike length of some 400m and represents an additional mineralized position to the existing Mineral Resource at Perseverance Wedge (see Figure 4).

The main zones of mineralization in the southern half of the project are on north-south trends that cut across the resistive units from the 2020 Gradient Array Induced Polarisation (GAIP) survey and are poorly tested along strike and at depth.

These results from the northernmost line of air-core drilling, towards the northern boundary of the tenement, have now established anomalous gold over a strike length of some 3.7km, which is regionally significant considering that the 1.7Moz Au Aphrodite Deposit is contained within some 3.5km of strike of gold anomalism and the 526koz Au Zoroastrian Deposit is anomalous over 1.5km.

The mineralisation styles at Aphrodite, Zoroastrian and North Kanowna Star are all different, however they are a useful analogy to give some context as to the potential extent of the gold mineralisation at North Kanowna Star.

Given the scale of the anomalism and the success of the recent exploration programs, Bardoc Gold believes that the North Kanowna Star Project warrants sustained and systematic long-term exploration to expand the known 32koz resource at the Perseverance-Wedge Deposit at depth and along strike, and to define potential new resource positions across the broader project area.

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Figure 1: The southern section of the two shown on the plan has two zones of gold mineralisation.

Figure 2: This section is 150m north along the mineralised strike.

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