Quarterly Activities Report – Period Ending April 2018

• Upgrade of the three advanced projects (Mutooroo, Kalkaroo, North Portia) to a combined JORC resource base of 1.4 million tonnes of copper, 32,200 tonnes of cobalt, and 3.4 million ounces of gold.

• Re-sampling of 1960’s Mutooroo diamond drill core confirms high grade cobalt up to 0.32%, and up to 3.8% copper and 1.7 g/t gold in the deeper Inferred Resource, where a cobalt resource is yet to be estimated.

• Sampling at Scorpion Prospect returned high cobalt values up to 0.16%, RC drilling is planned, with high potential to add satellite resources for the Mutooroo (copper-cobalt-gold) Project.

• Kalkaroo copper-cobalt-gold JORC resource updated to include 23,200 tonnes of cobalt.

• Supergene copper-cobalt-gold mineralisation in upper 150 m of the North Portia deposit largely upgraded to Measured Resource.

• North Portia resource enhanced with the addition of a maiden cobalt JORC resource of 600 tonnes in cobaltian pyrite host.

• North Portia investment agreement discussions advancing well ahead of schedule.

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