Resolution Minerals : Benmara Project Proof of Concept Drilling Successful

3 December 2021

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BENMARA PROJECT PROOF OF CONCEPT DRILLING SUCCESSFUL

• RML has completed a "proof of concept" 15-hole RC drilling program at the Benmara Project (NT), successfully intersecting the target geological units that are equivalent to those that host the

McArthur River, Lady Loretta, Walford Creek and Century Deposits

• Assay results also confirms anomalous Fe-Mn carbonate alteration and elevated thallium, both occur as a characteristic halo at the McArthur River, Lady Loretta and Century deposits.

• Trace elements indicate likely proximity to mineralisation at RML's Benmara Project

• Resolution is excited to be early movers in the region and have received positive interest from

use	several majors and mid-tiers regarding the project
• Highlighting the potential of the region is the calibre of the neighbours - which includes BHP,

Rio Tinto, FMG, South32, OZ Minerals and Teck

• Resolution Minerals is very pleased with this "proof of concept" success and intends to conduct further geophysics and drilling programs in 2022

personalFor	The	Benmara
	Project
	complements
	Resolution's
	Wollogorang
	Project (in Farm-
	in with OZ
	Minerals) and is
	part of
	Resolution's
	strategy to explore
	for battery metals
	in Northern
	Australia.

CAPITAL STRUCTURE

Ordinary Shares

Issued 656 M

Options and rights

Listed options 6 M @ 10c Listed options 74 M @ 12c Unlisted options 13 M @ 8c Unlisted options 59 M @ 4c Unlisted options 42 M @ 3c Unlisted rights 18 M

		BOARD
Performance Shares	Craig Farrow - Chair
Class A 9.6 M	Duncan Chessell - MD
Class B 3.6 M	Andrew Shearer - NED
	Jarek Kopias - Co Sec
Last Capital Raise
Oct/Nov 2021 - Placement & SPP	Level 4, 29-31 King William Street
$3.7M @ 2c
Adelaide SA 5000

ASX RELEASE

onlyResolution Minerals Managing Director Duncan Chessell commented:

We are very pleased to have demonstrated "proof of concept", through the intersection of thick carbonaceous, pyritic and dolomitic siltstones and shales akin to the Barney Creek formation which hosts the well-known world class HYC / McArthur River lead zinc Mine owned by Glencore. The program has improved our understanding of the geology and takes us one step further on the journey to a potential major discovery in an underexplored prospective region.

The Benmara Project is an exciting large scale potential green-fields sediment hosted battery usemetals project in one of the last few sedimentary basins in Australia to be explored. We have successfully intersected thick target rock units derived from recent geochronology research as part of the Geoscience Australia's $225m Exploring-For-The-Future initiative. This initiative for

the first time, identified the potential of and stratigraphically links the Benmara Group with the Lawn Hill Platform and Southern McArthur Basin, both of which are known to host large battery metal deposits, such as McArthur River, Lady Loretta, Walford Creek and Century Deposits.

The next step will be to follow up these units along strike and vector towards mineralisation, personalutilising alteration and trace element haloes defined by our maiden drilling program assay

results and further geophysics surveys. 2022 will be a very busy and exciting time for RML. For

Figure 1 Photo of RC chip trays from HoleID: 21BM001 TD 210m depth, weathered profile to 0m - 42m (19m onwards likely to have been pyritic shales), 42m-199m interbedded carbonaceous shales and siltstones (purple polygon) with 159-199m showing increasing alteration, 199m-210m dolomite. Note 1m light green marker unit Tuff Layer at 187-188m (green polygon) used for correlating lithology laterally.

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ASX RELEASE

onlyuse personalFigure 2 Typical pyritic shale HoleID: 21BM001 from 144-146m(depth) For

Figure 3 Galena (lead sulfide) HoleID: 21BM006 from 166-167m (depth)

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onlySummary

Resolution Minerals Ltd (ASX: RML) (Resolution or Company) is pleased to announce that it has intersected thick, prospective, pyritic, carbonaceous and dolomitic siltstones and shales associated with flat lying VTEM anomalies, at shallow depths during the maiden RC Drilling program on the Benmara Project. Assay results returned elevated lead, zinc and silver (Pb-Zn-Ag) of up to 198.5 ppm Pb in HoleID: 21BM006; 357 ppm Zn in HoleID: 21BM007; 307ppm Cu in HoleID: 21BM013; and 0.65ppm Ag in HoleID: 21BM009. These values are in the order of 5 x background for an average shale (AusIMM Field Geologists Manual, 2011).

use	Highlights
• RC Drilling confirms 3km long, 1km wide and up to 194m thick packages of highly
prospective pyritic shales and siltstone rock units interpreted to be Benmara
Group and equivalent to host rocks for world class deposits in the region.
Regional examples are McArthur River, Lady Loretta, Walford Creek and Century
		Deposits
		• RC drilling assays also reported anomalous Fe-Mn carbonate alteration and
		elevated thallium (Tl) trace element within the Benmara Group increasing to the
		east. There is a similar characteristic halo around the HYC, Lady Loretta and
		Century deposits and indicates likely proximity to mineralisation at RML's
		Benmara Project
personal

Drilling followed up conductive rock units identified by the Company's airborne VTEM geophysics survey in 2021. These conductive units can be excellent trap sites (reductive units) for base and battery metal mineralisation, encountered over more than a 3km strike length and 1km width and remain open in all directions. As seen at Walford Creek, the target stratigraphy includes fine-grained sandstones, siltstones and shales, including carbonate alteration and pyrite rich zones (Northwest Mineral Province Deposit Atlas, 2019). The target unit overlies a thick dolomite unit which is possibly equivalent to the Walford Dolomite (or the Tina Dolomite) and contains bright green, strongly altered tuff layers, which may be equivalent to tuffaceous marker horizons present at Walford Creek. We are targeting sub basins with the aid of tuff "marker" horizons to determine where we are in the stratigraphy. At Walford Creek a positive correlation has been noted between the degree of alteration of the tuff marker horizons and the grades of mineralisation present in the underlying unit (Northwest Mineral Province Deposit Atlas, 2019).

ForThis is a fantastic outcome given the conductive sedimentary units lie beneath a blanket of black clay and aeolian cover negating the use of surface geochemical techniques, and it's only through modern geophysics that targets like this are identified.

RML submitted 3m composite multi-element samples for the entire program to allow for geochemical vectoring. Analysis of the geochemistry has revealed some excellent vectors known to be associated with halos present at Lady Loretta, HYC and Century base and battery metal deposits (Leach et al, 2005).

1. The presence of Fe-Mn alteration associated with the prospective units
2. The presence of anomalous trace element thallium (Tl) increasing from the WNW to ESE

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ASX RELEASE

onlyImmediate follow up drill targets have been defined based on geochemical vectors combined with the position of prospective structures and interpreted units along strike and VTEM results.

RML is very positive about this project that in addition to planning further drilling, RML has signed a contract to undertake further VTEM in 2022 on their newly acquired ground. Final plans for these programs will be announced in the new year.

A full desktop review is planned over the wet season (summer months), including analysis of thin sections and geochronology to further enhance the Company's understanding of the host rocks and alteration ahead of next field season. Drilling approvals will be submitted well ahead of dry season.

useResolution is excited to be one of the first movers in South Nicholson Basin and has received significant positive interest from multiple parties regarding the project.

Detailed Geological Interpretation

personalVectors to mineralisation Alteration & Trace Element Haloes

Fe-Mn carbonate alteration halos are present at Lady Loretta, HYC and Century deposits and are thickest immediately surrounding the ore. The halo can extend for distances varying from the hundreds of metre through to the tens of kilometre scale (Leach et al, 2005). The RC drilling intersected values of 0.1-0.2% Mn and 3-5% Fe within a carbonaceous shales and siltstones.

ForFigure 4 Schematic section of typical Fe-Mn carbonate alteration halos associated dolomitic siltstone-hosted deposits of northern Australia e.g. Lady Loretta, HYC and Century (Leach et al, 2005)

Thallium (Tl) is an important geochemical indicator (trace element) and vector to stratiform Zn-Pb-Ag mineralisation and occurs at values of 100 to 1,000 ppm through the Zn-Pb ores and decreases to values of less than 1 ppm at distances of 1 to 20 km along the favourable horizon (Leach et al, 2005). The Company's Benmara drilling intersected a maximum value of 42ppm Tl, with multiple samples exceeding 1ppm Tl indicating these holes could be within kilometres of an ore zone (Figure 5). There is an increase in Tl from west to east within the carbonaceous siltstones and shales.

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