Mincor Resources NL reported an initial JORC compliant Mineral Resource Estimate (MRE) for the LN04a Surface, located in the Golden Mile exploration zone between the Long and Durkin North Mines at its Northern Operations in Kambalda, Western Australia. The initial or "Phase 1" MRE for LN04a has defined a high-grade Indicated and Inferred Mineral Resource of 576,000 tonnes @ 3.9% Ni for 22,600 Ni tonnes. Importantly, 71% or ~16,000 Ni tonnes of the new Mineral Resource, is classified as Indicated, with the remaining 29% classified as Inferred. The completion of the Phase 1 LN04a MRE has resulted in a significant uplift in the overall Mineral Resource for the Northern Operations, increasing the existing Long/Durkin North Resources by 41% to 77,000 tonnes of contained nickel. Global Mineral Resources for the Northern Operations (all Resources) now stand at almost 90,000 tonnes of contained nickel. Importantly, the LN04a Surface remains open both up-dip and along strike as the surface extends along the Golden Mile towards Durkin North. Delineation of the upper portion and the up-dip strike extents will continue through the remainder of fiscal year 2023, as the Golden Mile drilling program moves into its next phase. The delineation of the LN04a Surface represents a "proof-of-concept" of Mincor's ambitions within the Golden Mile exploration area. The Company's decision to link the existing Long Operation to the new Durkin North deposit has facilitated excellent underground drill testing positions for the Golden Mile targets, while also providing close, high-quality infrastructure to support rapid Mineral Resource development. The Company has commenced work on an initial Ore Reserve covering LN04a, targeted for release later this year, while continuing to explore and delineate an enlarged LN04a Surface. The Mineral Resource Estimate (MRE) for the LN04a Surface as at 25 July 2022. The MRE is the result of underground drilling completed over a 13-month period from June 2021 to June 2022 from the Golden Mile, a 1.1 km zone between the Long and Durkin North mines within the Kambalda Dome. LN04a long-section (facing South) illustrating areas of Indicated Resource (green) and Inferred
Resource (light blue) Mineral Resource classification, drill hole pierce points and modelled felsic porphyry and dolerite dykes. In this orineation, the exisitng Long development is on the far left, with the Durkin orebodies located far right (well beyond the extents of this image). Also illustrated in Figure 2, two daimond drill intercepts on likely up-dip extensions of the LN04a (ULG-21-048 and ULG-22-064). The LN04a Surface Mineral Resource was estimated by independent consultants from Cube Consulting Pty Ltd. (Cube) in conjunction with Mincor geological staff. Mincor's Northern Operations at Kambalda, including Durkin North and Long Mines, Golden Mile and the LN04a Surface are all located within Location 48, Lots 11, 12 and 13 (Freehold Land) which are 100% owned by Mincor Resources NL. The area is located approximately 550 km east of Perth and 50 km south-southeast of Kalgoorlie within the Kambalda Nickel District, Eastern Goldfields, Western Australia. Access to the Northern Operations is via the sealed Goldfields Highway from either Kalgoorlie or Norseman.