Inflection Resources Ltd. provide the results of the various geophysical surveys completed on the Duck Creek project in New South Wales, Australia. All surveys were conducted as part of a multi-year Exploration Agreement with AngloGold Ashanti Australia Limited announced on June 14, 2023. Three separate geophysical surveys were completed on the northern Duck Creek exploration license including Ambient Noise Tomography, an Induced Polarisation/Magnetotellurics (IP/MT) survey and a ground gravity study.

The principal objective of these surveys was to enable the more accurate positioning of further drill holes, which when combined with geochemical data and alteration mapping collected from earlier Inflection drilling, would likely provide vectors toward alkalic porphyry-related copper-gold mineralisation at depth. Drilling is currently focused on testing new regional targets in the north of Inflection's portfolio as referenced in Inflection News Release dated December 20, 2023. With the completion of the geophysical surveys, anticipate further drilling at Duck Creek.

The Company anticipates an extensive follow-up drill program to commence at Duck Creek following the ongoing scheduled, first-pass drilling underway on the various northern New South Wales targets. Ambient Noise Tomography Survey - The Company engaged Fleet Space Technologies to complete an ANT survey using the Exosphere platform. ANT is a passive seismic exploration technique that measures pervasive seismic noise derived from natural and anthropogenic sources to visualise the three-dimensional subsurface using changes in seismic velocity.

ANT surveys completed elsewhere have demonstrated that magmatic intrusions, hydrothermal alteration and faults can manifest as zones of high and low seismic velocity. ANT offers the advantages of quickly covering large areas and can visualise below cover sequences of more than 2,000 metres. The survey appears to map the thickness of the post-mineral cover and structures within the prospective basement sequence.

Six high priority targets have been identified from this survey which include zones of high seismic velocity, suggestive of intrusions at depths and zones of low seismic velocity suggestive of hydrothermal alteration in the basement sequence. These targets are also associated with large, previously unrecognised, regional-scale structures which may have influenced the emplacement of intrusions in the basement sequence. The Inflection survey covered an area of approximately 30 km 2 across the northern Duck Creek Project area in zones where previous drilling returned favourable alteration and geochemistry indicative of an alkalic porphyry environment.

The aim of the survey was to map the paleosurface and basement rocks to identify areas of potential alteration or intrusions in the basement sequence for further drill testing. The survey has produced an image of the paleotopographic surface allowing for detailed 3D constrained modelling of magnetic and gravity data. Several previously unknown large-scale features of interest have been identified by the survey interpreted to represent possible intrusions and alteration.

Gravity Survey - The Company commissioned Daishsat Geodetic Surveyors to complete a ground-based gravity survey to enable almost full coverage of the broader Duck Creek exploration license. The survey included 1,190 stations collected on a 500-metre grid over an area depicted in the sparsely collected publicly available data as a broad zone of low gravity. The Northparkes copper-gold mine, situated approximately 180 kilometres southeast of Duck Creek, is associated with a large gravity low indicative of a batholith and smaller porphyry intrusions at depth.

The publicly available data define a broad gravity low of similar character to the Northparkes feature and the recent more detailed survey was designed to refine the features to assist targeting within the greater Duck Creek exploration license. The Company considers the survey data to be excellent quality and has highlighted several previously unknown areas of deep gravity lows, one of which coincides with areas of known porphyry style alteration intercepted in Inflection drilling as well as additional new anomalies that have yet to be drill tested. The Company considers this relatively cost-effective survey to be very useful and going forward will be used elsewhere within the Macquarie Arc portfolio including on the Myallmundi project to provide much greater detail than the publicly available regional gravity data.

The Company believes the higher resolution gravity data, together with the ANT data, can be used to directly position additional drill holes with the goal of vectoring towards porphyry-related copper-gold mineralisation at depth. Induced Polarisation/Magnetotellurics (IP/MT) - The Company commissioned Fender Geophysics to complete a focused 35-line kilometre IP/MT survey over selected aeromagnetic targets in the northern Duck Creek exploration license area. Six lines were completed over six discrete targets.

The Company interprets that the survey failed to penetrate the basement sequence presumably due to the conductive nature and thickness of the post-mineral sedimentary cover sequence.