Resolution Minerals : Tourmaline Ridge Exploration Update, 64North Project, Alaska

28 April 2022

TOURMALINE RIDGE EXPLORATION UPDATE

64NORTH PROJECT, ALASKA

Highlights:

• • 100% of trench results across the 1800m x 750m gold-in-soil anomaly at Tourmaline Ridge have now been received and confirm the status of priority one target at the 64North project.

• • Highlights of trench results (1 metre channel samples) include:

  Trench 1 (21TR001): maximum 4.8 g/t Au; with three samples exceeding 1 g/t Au

  Trench 2 (21TR002): maximum 2.9 g/t Au; with five samples exceeding 1 g/t Au

• • The trenching program successfully identified gold bearing quartz veins at surface and indicates the presence of high value Pogo-style targets in the subsurface

• • Drilling contract secured for a 5 hole, 2200m diamond drill program (previously 4 holes, 2000m) to commence late June 2022

• • Ground ELF-EM geophysics survey has commenced and the results expected in late May will help to refine the exact location and angle of the drill targets

• • Exploration Manager Christine Lawley appointed interim CEO

Figure 1 Commencement of snowmobile supported ELF-EM ground geophysics survey at Tourmaline Ridge.

Ordinary Shares

Issued 665 M

Options and rights

Last Capital Raise Sep-Oct-21 - Placement and SPP $3.7M @ 2c

Craig Farrow - Chair Duncan Chessell - MD

Listed options 6 M @ 10c

Dr Paul Kitto - TED Andrew Shearer - NED

Listed options 74 M @ 12c

Jarek Kopias - Co Sec

Unlisted options 13 M @ 8c

Level 4, 29 King William Street

Unlisted options 79 M @ 3c Unlisted rights 28 M

Adelaide SA 5000www.resolutionminerals.com

ASX RELEASE

Interim-CEO/Exploration Manager, Christine Lawley commented:

"Gold assays continue to stack up in support of our geological model for hanging wall gold mineralisation positioned above a Pogo-style gold system at the Tourmaline Ridge Prospect. Previous explorers targeted the narrow hanging wall veins, rather than the larger Pogo-style shear, which will be the focus of our drilling.

Our team has been rewarded by their persistence in an extremely competitive drilling market, sourcing a high-powered diamond rig from an experienced local contractor. The Atlas Copco CS14 drill rig sourced for the program is capable of drilling to depths well beyond our deepest target depth.

We look forward to receiving the results from the ELF-EM ground geophysics survey, which is now underway. The ground geophysics survey will allow us to pin-point the optimum depth and angle to hit the target structure, allowing us to refine our drill hole design, increasing our chances of exploration success."

Figure 2 The 64North Project Claims (Feb 2022) in blue surrounding Northern Star's Pogo Gold Mine. Key prospects Miranda, Last Chance, Elaine, Kramer, George, ER, Tourmaline Ridge and Aurora Prospects annotated with mineralisation style.

Tourmaline Ridge Trenching Results - Final Results

Trench 1 & Trench 2 (projected) Cross Section

Figure 3 Tourmaline Ridge Prospect cross section including full assay results on trench 21TR001 and 21TR002. Historical holes WP12-01 and WP-1 are included, aiding interpretation of antithetic hanging wall veins relative to an interpreted northwest dipping shear, prospective for Pogo-style mineralisation. See section line reference on Figure 4 (Trench One and Trench Two).

Resolution Minerals Ltd (Resolution or Company) (ASX:RML) is pleased to have secured a contract to commence diamond drilling in late June 2022 on our priority one target the Tourmaline Ridge prospect.

The Company advises that results from the Tourmaline Ridge trenching program completed in September 2021, have now been received (6 months after completing the program - due to extreme lab delays in North America) and the Company is in the position to present 100% of the results.

The full results further support those presented from partial results (24 February 2022), in which mineralisation links have been observed between the trenching results and historical drill data. The full trenching assay results confirm Resolution's 3D geological model for the surface expression at Tourmaline Ridge (Figure 3), representing antithetic hanging wall veins, which RML believes to sit directly above a dilational northwest dipping shear, with a high probability of hosting significant gold mineralisation.

Resolution is very pleased with the outcome of the trenching results and the implications for potential high-grade Pogo-style mineralisation. Resolution looks forward to drill testing this Priority One target during 2022.

ELF - EM Survey currently underway

Figure 4. Anomalous surface geochemistry extending over a 1.8km x 750m area with a prospective ENE-SSW trending shear extending along strike from the Goodpaster Prospect to the northeast. Section line Trench 1 & 2 is reference for Figure 3. (RML ASX Announcement 26/11/2019).

Next Steps

The Company is pleased to announce it has signed a contract with a reputable Alaskan-based diamond drilling company, CNC Drilling. The CS14 rig is fit for purpose and capable of reaching depths greater than 650m. An ELF-EM ground geophysics survey has commenced ahead of the drilling program, which will allow the Company to tighten up the drill targets.

Upon completion of the ten-day ELF-EM surface geophysics program, results will be processed and interpreted to optimise the current drill targeting along the NW dipping shear zone (Figure 3 and 4).

Post winter thaw, June earthworks will be undertaken to access and install drill pads ahead of a late June start to the ~2,200m, 5-hole diamond core drill program. A minor regional exploration program is being planned at the end of the drilling program, aiming to refine drill targets at East Pogo (Figure 2) and with the aim of upgrading selected prospects to drill ready status.

The planned drill program at Tourmaline Ridge will take 6 weeks to complete, and selective samples will be cut and transported to laboratories outside of Alaska for optimised turn-around times. As part of the drilling program, Resolution will upgrade access tracks to allow for follow up winter drilling, in anticipation of the summer season results. We will provide an update to the market of final drill targets ahead of commencement of drilling in late June.

Also of note, Exploration Manager Christine Lawley has moved into the role of interim CEO as the Company continues its search for a new Chief Executive Officer.

ASX RELEASE

Christine Lawley	Julian Harvey
Interim CEO	Investor Communications
Resolution Minerals Ltd	Resolution Minerals Ltd
P: [phone]	M: [phone]
E:[e-mail]	[e-mail]
W:www.resolutionminerals.com
Competent Persons Statement

About the 64North Project, Alaska

The 64North Project is adjacent to Northern Star's (ASX:NST) Pogo Gold Mine, 120km from Fairbanks, Alaska in the Tintina Gold Province. NST's operating world class high grade Pogo Gold Mine has an endowment of 11Moz of gold and started production in 2006, producing approximately 4M oz Au @ 300,000oz/year at over 13g/t Au from 2006 to 2018. RML holds a 42% interest in the project and is earning up to a 60% interest in stages (51% and 60%). RML has a conditional pathway to 80% interest in a single "Best Block" at RML's election. RML can form a JV at any stage and holds a first right over the Vendors interest. The Project is owned by Millrock Resources (Vendor) (TSXV:MRO) see RML ASX Announcement 31 January 2022 for full details. The total size of the claim blocks in 357km2.

Resolution controls a dominant 672km2 land package surrounding the world-class Pogo Gold Mine via this agreement.

For further information please contact the authorising officer Christine Lawley:

The information in this report that relates to Exploration Targets, Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Ms Christine Lawley who is a member of the Australasian Institute of Mining and Metallurgy. Ms Christine Lawley holds shares, options and performance rights in and is a full-time employee of the company and has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the 'Australian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Ms Christine Lawley consents to the inclusion in the report of the matters based on his information in the form in which it is appears and confirms that the data reported as foreign estimates are an accurate representation of the available data and studies of the material mining project. This report includes results that have previously been released under JORC 2012 by the Company as 26 November 2019 as "2019 AGM Managing Director's Presentation", 14 May 2020 as "Exploration Update - 64North Project Alaska", on 24 June 2020 as "Drilling Update - 64North Project Alaska", 13

July 2020 as "Investor Presentation - Noosa Mining Virtual Conference", 25 August 2020 as "Drilling Commenced at Reflection Prospect - 64North", 10 September 2020 as "Assays and Operations Update 64North Project Alaska", 24

September 2020 as "Boundary Prospect Results at Pogo Trend - 64North Project", 29 September 2020 as "Drilling Results West Pogo Block - 64North Project, Alaska", 30 October 2020 as "Quarterly Report September 2020", 5

November 2020 as "Alaska Miners Association Technical Presentation", 14 December 2020 as "New Claims Added East Pogo - 64North Project, Alaska", 18 January 2021 as "Outcropping Gold System Identified - Assay Results 2020, 64North, Alaska", 9 February 2021 as "Positive revision of JV agreement for 64North project, Alaska", 17 May 2021 as "Sunrise Prospect Assays confirm Fort Knox style system", 5 July 2021 as "Drilling Program Completed at East Pogo Gold Prospect", 6 August 2021 as "East Pogo Drilling Update - 64North Project", 31 January 2022 as "Interest earned 64North Project", 24 February 2022 as "Positive trenching results identify Pogo-style drill targets - Tourmaline Ridge 64North Project" and 25 February 2022 as "Positive Technical study completed - Cu-Au-Mo Porphyry Prospects - Divide Block 64North Project".

The Company is not aware of any new information or data that materially affects the information included in this announcement.