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WILKI PROJECT

In late February 2020, Antipa entered into a farm-in agreement with established gold miner Newcrest Mining in respect to a 2,260km² portion of Antipa’s southern landholding in the Paterson Province, which has been named the Wilki Project.

The agreement caters for a staged farm-in process whereby Newcrest Mining must spend an initial $6 million on exploration within two years of commencement; a further $10 million within five years of commencement to earn a 51% interest; and a further $44 million within eight years of commencement to earn a 75% interest. In certain circumstances, Newcrest Mining can extend this earn-in period by up to two years. The initial $6 million minimum exploration expenditure milestone was satisfied in November 2021 and Newcrest elected to proceed to the next stage of the farm-in.

Effective from 1 July 2022, Newcrest became manager and operator of the Project. In November 2023, Newmont Corporation (Newmont) completed the acquisition of Newcrest, including its interest in the Wilki Project.

The Wilki Project area surrounds the long-running Telfer gold-copper-silver mine and comes to within 9km of Newmont-Greatland Gold’s Havieron high-grade gold-copper development project. It includes existing gold Mineral Resources at the Tim’s Dome and Chicken Ranch deposits as well as multiple defined greenfields exploration targets including the exciting Parklands Target.

CHICKEN RANCH

The Chicken Ranch deposit is located 15km from the giant Telfer gold copper-silver mine. It hosts mineralisation along a 3km+ strike length within four or more parallel mineralised gold trends starting from as shallow as 1m and extending down for more than 130 metres vertical metres.

Chicken Ranch hosts an Inferred Mineral Resource of 791,000 tonnes at 1.6 g/t gold for 40,300 ounces of gold. The prospect retains excellent exploration upside with multiple untested mineralised trends displaying significant strike extents, while the primary mineralisation remains untested at depth.

TIM'S DOME

Tim’s Dome South is located just 12km from the Telfer gold-copper-silver mine and is interpreted as the re-emergence of the Telfer Dome structure with the potential for high-grade Telfer reef-style mineralisation.

Gold +/- copper mineralisation starts from as shallow as 1m in a gold vein-bearing corridor of up to 200m wide over a 3.5km strike length within a broader 8km trend.

Tim’s Dome contains a resource of 1.78 million tonnes at 1.1 g/t Au for 63,200 ounces of gold.

WILKI PROJECT SURFACE GEOCHEMICAL SAMPLING PROGRAMME: PARKLANDS TARGET IDENTIFIED

The first tranche of the large-scale surface geochemical sampling programme (currently involving approximately 4,000 samples) has identified an exciting new gold target known as Parklands, located just 10km northeast of Telfer and 6km along a northwest trend from several known gold deposits.

Key characteristics of the Parklands target include:

A large 3km long by up to 1.5km wide, coherent gold and mineral system pathfinder (bismuth, tungsten, cobalt, sulphur, antimony, tin and selenium) surface geochemical anomaly;
Peak surface geochemical sample lag result 1.52 g/t gold, with multiple results exceeding 0.1 g/t gold;
Favourable mineralisation fluid anticlinal trap site, with fluid conduit plumbing, including a northeast-trending structure intersecting
Telfer and local thrust faulting concentrated in the fold nose;
Shallow cover, predominantly less than 20m; and
Anomaly open to the southeast, northwest and north.

PATERSON PROJECT

In July 2020, Antipa entered into a farm-in agreement with established base metals and lithium company IGO Ltd in respect to a 1,550km² portion of its 100%-owned landholding in the Paterson Province, which has been named the Paterson Project.

The agreement caters for a staged-farm-in process whereby IGO must spend an initial $4 million on exploration on the landholding within 2.5 years and a further $26 million within 6.5 years to earn a 70% joint venture interest in the Project. The initial $4 million minimum exploration expenditure milestone was satisfied in December 2021. Effective from 31 March 2022, IGO became manager and operator of the Project.

The farm-in area is contiguous with the Citadel Joint Venture in the north, runs to within 20km of Newcrest Mining’s Telfer gold operation in the south and surrounds the Company's Minyari Dome area. It includes a new gold-copper trend identified by Antipa in 2019 that covers the Reaper, Serrano and Poblano targets over a strike length of approximately 1.8km. The Company’s interpretation is that Reaper, Poblano and Serrano could all form part of the same very large-scale mineral system. There are multiple other areas of interest within the project that are likely to be the focus of future exploration work, including several co-incident magnetic-gravity high targets.

Under the terms of the farm-in agreement with IGO, Antipa will be free-carried until the completion of a feasibility study on any proposed mining operation within the Project area.

MINERAL RESOURCES SUMMARY

Wilki Farm-In Project (Antipa 100%)

Wilki Project - Mineral Resources Summary

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Competent Persons Statement – Mineral Resource Estimations for the Chicken Ranch Area Deposits and Tim’s Dome Deposit:

The information on this website that relates to relates to the estimation and reporting of the the Tim’s Dome and Chicken Ranch deposits Mineral Resources is extracted from the report entitled “Chicken Ranch and Tims Dome Maiden Mineral Resources” released on 13 May 2019, are available to view on antipaminerals.com.au and asx.com.au. The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and that all material assumptions and technical parameters underpinning the estimates in the relevant original market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.