Thick Gold Mineralisation Intersected in the Albany-Fraser

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ASX Announcement

11th November 2021

Thick Gold Mineralisation Intersected in the Albany-Fraser at the

Circle Valley Gold Project

Highlights:

• Thick gold mineralisation intersected at Circle Valley within the Albany-Fraser Mobile Belt, which hosts the multi-million-ounce Tropicana Gold Deposit
• Reconnaissance aircore drilling to map stratigraphy across the strike of a 1.2km gold in soil anomaly has defined a 400m wide zone of gold anomalism (1,200m strike x
  400m width), better results include:

1. 23m @ 0.64g/t Au from 12m including 12m @ 1.05g/t Au (CVAC061)

• 1. 24m @ 0.38g/t Au from 12m including 4m @ 1.49g/t Au (CVAC062)
• End of hole multi-element analysis points to Tropicana style pathfinder geochemistry:
• 1. Alteration enrichment up to 4.81% Potassium (K) and 1.77% Sulphur (S)

1. Strong enrichment up to 1,220ppm Barium (Ba), 436ppm Rubidium (Rb) and 136ppm Lead (Pb)

• 1. Enrichment in metals up to 1.70g/t Silver (Ag), 19.75ppm Molybdenum (Mo) and 0.10ppm Tellurium (Te)
• Mineralisation occurs below shallow transported cover within gently folded east-west trending magnetic fabrics (banded gneiss) in the core of a more magnetic fold closure
• Follow up drilling planned to commence imminently with assistance from the Western
  Australian Government's Exploration Incentive Scheme co‐funded drilling program ($150,000 funding grant), testing for extension to the north, east and west where the mineralisation remains open, and separately to test for mineralisation in fresh rock below the regolith

Latitude Consolidated Limited (ASX:LCD) ("Latitude" or "the Company") is pleased to report the results of reconnaissance drilling undertaken at the Company's Circle Valley Gold Project in Western Australia (Figure 9). This reconnaissance drilling was designed to build a depth of cover model over the project area and map the basement geology, providing the Company with a greater understanding of the stratigraphic, metamorphic and structural architecture at Circle Valley.

Gold exploration along the western edge of the Albany-Fraser Mobile Belt, where the Circle Valley Gold Project is situated, has met with considerable success as highlighted by the discovery and development of the 7.1Moz Tropicana gold mine (AngloGold Ashanti and Regis Resources Ltd Joint Venture). While the Company views these thick gold intersections in this first pass drilling at Circle Valley as encouraging, the end of hole multi-element geochemistry which points to Tropicana style pathfinder elements is viewed as more important and may be indicative of a large mineralised system. The gold anomalism has a current known strike of 1.2km, a width of 400m and remains open to the north, east and west.

Latitude Consolidated Limited	www.latitudeconsolidated.com.au
Ground Floor, 16 Ord Street, West Perth WA 6005	ASX:LCD

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Figure 1: Circle Valley prospects and location of 2021 reconnaissance drill lines overlaid on

magnetics.

Two lines of aircore holes were drilled with collars spacings between 20m and 200m. Importantly, numerous holes ended in mineralisation below the transported cover at the top of fresh rock. Results include:

• 23m @ 0.62g/t Au from 12m including 12m @ 1.05g/t Au (CVAC061)
• 24m @ 0.38g/t Au from 12m including 4m @ 1.49g/t Au (CVAC062)
• 4m @ 0.83g/t Au from 20m (CVAC004)
• 1m @ 0.31g/t Au from 15m (CVAC027) - hole ends in mineralisation
• 1m @ 0.18g/t Au from 16m (CVAC048) - hole ends in mineralisation
• 1m @ 0.17g/t Au from 16m (CVAC048)
• 1m @ 0.12g/t Au from 16m (CVAC048) - hole ends in mineralisation

Multi-element results from the final meter of each hole delivered elevated silver across the

400m wide Anomaly A zone with results above 0.5g/t Silver including:

• 1m @ 1.70g/t Ag from 20m (CVAC057) - end of hole sample
• 1m @ 1.01g/t Ag from 17m (CVAC048) - end of hole sample
• 1m @ 0.86g/t Ag from 36m (CVAC061) - end of hole sample
• 1m @ 0.84g/t Ag from 19m (CVAC042) - end of hole sample
• 1m @ 0.82g/t Ag from 24m (CVAC058) - end of hole sample
• 1m @ 0.74g/t Ag from 20m (CVAC047) - end of hole sample
• 1m @ 0.73g/t Ag from 21m (CVAC059) - end of hole sample
• 1m @ 0.63g/t Ag from 20m (CVAC057) - end of hole sample
• 1m @ 0.60g/t Ag from 21m (CVAC049) - end of hole sample
• 1m @ 0.57g/t Ag from 22m (CVAC041) - end of hole sample
• 1m @ 0.50g/t Ag from 25m (CVAC054) - end of hole sample

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Figure 2: Circle Valley Gold Project - Anomaly A cross section (3x vertical exaggeration applied), note maximum depth of aircore drilling is circa 35m.

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Figure 3: Early Tropicana cross section (top) at same scale as Circle Valley Anomaly A cross section (bottom).

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Figure 4: Circle Valley Anomaly A plan showing gold in soil anomaly and aircore drill results overlaid on high resolution magnetics (TMI-1VD).

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