New Risk • Mar 19
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: AU$135.6m (US$95.5m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 40% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (AU$135.6m market cap, or US$95.5m). New Risk • Mar 12
New major risk - Revenue and earnings growth Earnings have declined by 32% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 32% per year over the past 5 years. Revenue is less than US$1m. Minor Risk Share price has been volatile over the past 3 months (15% average weekly change). Announcement • Feb 14
Marmota Limited has completed a Follow-on Equity Offering in the amount of AUD 15 million. Marmota Limited has completed a Follow-on Equity Offering in the amount of AUD 15 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 111,111,111
Price\Range: AUD 0.135
Discount Per Security: AUD 0.0081
Transaction Features: Subsequent Direct Listing Announcement • Feb 12
Marmota Limited has filed a Follow-on Equity Offering in the amount of AUD 15 million. Marmota Limited has filed a Follow-on Equity Offering in the amount of AUD 15 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 111,111,111
Price\Range: AUD 0.135
Discount Per Security: AUD 0.0081
Transaction Features: Subsequent Direct Listing New Risk • Dec 11
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 27% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (27% average weekly change). Revenue is less than US$1m. New Risk • Oct 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 14% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (14% average weekly change). Market cap is less than US$100m (AU$84.8m market cap, or US$55.9m). Announcement • Sep 29
Marmota Limited, Annual General Meeting, Nov 18, 2025 Marmota Limited, Annual General Meeting, Nov 18, 2025. Location: perth Australia New Risk • Sep 26
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$3.4m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$3.4m free cash flow). Revenue is less than US$1m (AU$130k revenue, or US$85k). Minor Risk Market cap is less than US$100m (AU$61.3m market cap, or US$40.1m). Announcement • May 08
G4 Metals Pty Ltd entered into a formal binding heads of agreement to acquire West Melton copper tenement of Marmota Limited for AUD 1.5 million. G4 Metals Pty Ltd entered into a formal binding heads of agreement to acquire West Melton copper tenement of Marmota Limited for AUD 1.5 million on May 7, 2025. A cash consideration of AUD 5000 will be paid by G4 Metals Pty Ltd. The consideration consists of common equity of G4 Metals Pty Ltd having a value of AUD 1 million to be issued for West Melton copper tenement of Marmota Limited. G4 Metals Pty Ltd will pay an earnout/contingent payment of AUD 0.5 million common equity. As part of consideration, AUD 1.5 million is paid towards assets of West Melton copper tenement of Marmota Limited.
The transaction is subject to ministerial approval and consummation of initial public offering of G4 Metals Pty Ltd. Announcement • Feb 04
Marmota Limited has completed a Follow-on Equity Offering in the amount of AUD 5 million. Marmota Limited has completed a Follow-on Equity Offering in the amount of AUD 5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 90,909,091
Price\Range: AUD 0.055
Discount Per Security: AUD 0.0033
Transaction Features: Subsequent Direct Listing Announcement • Oct 02
Marmota Limited, Annual General Meeting, Nov 28, 2024 Marmota Limited, Annual General Meeting, Nov 28, 2024. New Risk • Sep 26
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$1.8m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$1.8m free cash flow). Revenue is less than US$1m (AU$137k revenue, or US$94k). Minor Risks Shareholders have been diluted in the past year (2.6% increase in shares outstanding). Market cap is less than US$100m (AU$39.1m market cap, or US$26.8m). New Risk • Sep 23
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m (AU$968 revenue, or US$661). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Shareholders have been diluted in the past year (2.6% increase in shares outstanding). Market cap is less than US$100m (AU$38.6m market cap, or US$26.4m). New Risk • Jul 07
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.6% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m (AU$968 revenue, or US$654). Minor Risks Shareholders have been diluted in the past year (2.6% increase in shares outstanding). Market cap is less than US$100m (AU$48.9m market cap, or US$33.0m). Announcement • Jun 26
Marmota Limited has filed a Follow-on Equity Offering in the amount of AUD 1.25 million. Marmota Limited has filed a Follow-on Equity Offering in the amount of AUD 1.25 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 27,777,781
Price\Range: AUD 0.045 Announcement • Sep 28
Marmota Limited, Annual General Meeting, Nov 23, 2023 Marmota Limited, Annual General Meeting, Nov 23, 2023. Agenda: To consider the re-election of directors. New Risk • Sep 22
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$2.1m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$2.1m free cash flow). Revenue is less than US$1m (AU$161k revenue, or US$103k). Minor Risk Market cap is less than US$100m (AU$32.8m market cap, or US$21.1m). New Risk • Sep 09
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Market cap is less than US$100m (AU$30.7m market cap, or US$19.6m). Announcement • Jan 24
Marmota Limited Commences Drilling at Aurora Tank Marmota Limited announced that 2023 drilling at Aurora Tank has commenced. Drilling is expected to continue throughout January and through most of February 2023. Announcement • Dec 10
Marmota Limited Announces First Rare Earth Program About to Commence Over recent months, Marmota has carried out an extensive review of Rare Earth Element (REE) anomalies over Marmota's extensive Western Gawler Craton tenements, including analysis of historical drilling, chip trays and core library samples. The combination of rare earth mineral-bearing Archaean basement and overlying tertiary regolith cover have provided large areas which are geologically highly prospective for potentially economic regolithic clay-hosted ionic REE deposits within Marmota's tenement holding. Marmota has highlighted atleast 4distinctzones that it considers to be highly prospective for RareEarths, including the recent discovery of Rare Earths on Marmota's tenement boundary. All 4zones will be tested. The first of the 4zones to be drill tested is the Muckanippie tenement. Announcement • Nov 21
Marmota Limited Starts Drilling at Aurora Tank and Comet Gold Marmota recently announced that 1m assay results from extensional drilling at Marmota's gold discovery at Aurora Tank yielded outstanding grades of 217 g/t gold over 1m, and multiple high- grade gold extensions to the NE, SW and at depth. This has given rise to immediate high-priority drilling targets that require follow-up. The Woomera Defence Area recently re-opened and tracks are now accessible again after heavy rains. Drilling recommenced on Friday and is progressing very well. PROGRAM: November/December 2022. RC drill program: 60 - 80 holes (may vary). Total RC drilling: 8,000m (may vary). Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Non-Executive Director of Production & Director Neville Bergin was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Nov 12
Marmota Announces That 1M Assay Results from Extensional Drilling At Marmota's Gold Discovery At Aurora Tank Yielded Marmota announced that 1m assay results from extensional drilling at Marmota's gold discovery at Aurora Tank yielded outstanding grades of 217 g/t gold over 1m, and multiple high-grade gold extensions to the NE, SW and at depth. This has given rise to immediate high-priority drilling targets that require follow-up. The Woomera Defence Area has re-opened and tracks are now accessible again after recent heavy rains. Announcement • Oct 17
Marmota Limited Provides Aurora Tank Gold - Drilling Update Marmota Limited recently announced that 1m assay results from extensional drilling at Marmota's gold discovery at Aurora Tank yielded outstanding grades of 217 g/t gold over 1m, and multiple high- grade gold extensions to the NE, SW and at depth. This has given rise to immediate high-priority drilling targets that require follow-up. Rig and crew were mobilized to site, and RC Drilling commenced on 6 October: Over 1,000m has already been drilled (13 RC holes). Drilling adjourned on October 16, 2022 for the Woomera Defence Area closure that commenced on 16 October. Drilling will recommence when the area re-opens in early November. PROGRAM: October/November 2022: RC drill program: 6080 holes (may vary); Total RC drilling: 8,000m (may vary). Announcement • Oct 14
Marmota Limited Announces Wildcat Gold Find at Comet Marmota Limited recently reported that a single isolated wildcat hole, in the first drilling carried out by any company ever on the Comet (West) Tenement EL6084, located south of Aurora Tank, intersected gold (1.3 g/t over 4m composite). Marmota is very pleased to advise assay results from detailed 1m splits. Importantly, the new detailed assays from 1m splits have: confirmed the gold intersection at the wildcat hole on Comet, and substantially increased the grade to 7.7 g/t over 1m(at 47m from surface). Accelerated Discovery Initiative (ADI) Program on Comet: First drilling ever (apparently by anyone) on the Comet (West) tenement EL 6084. 7 reconnaissance holes were drilled on Comet as part of ADI program in June 2022. Potential for a new discovery. Hidden at surface: no gold-in-calcrete expression of gold at surface. Marmota drilled 7 reconnaissance holes on the Comet (West) tenement. One of the holes [ Hole 22ADIRC017 ] intersected significant gold at 47m downhole, returning 7.7 g/t gold over 1m. The above exploration work is jointly funded by the SA Government under a $225,000 grant awarded to Marmota under the Accelerated Discovery Initiative (ADI). The program involved a small number of holes drilled on two tenements located to the south of Marmota’s Aurora Tank gold discovery (Woorong Downs and Comet). As far as Marmota is aware, this program included the first ever exploration drilling by any company on the Comet (West) Tenement (EL6084) located south of Aurora Tank. Announcement • Oct 01
Marmota Limited Announces Detailed Outstanding Grades of 217g/t Gold over 1m, and Multiple High- Grade Extensions to the NE, SW and At Depth Marmota announced on September 29, 2022 detailed 1m assay results from extensional drilling at Marmota's gold discovery at Aurora Tank, including outstanding grades of 217g/t gold over 1m, and multiple high- grade extensions to the NE, SW and at depth. Drilling will continue until the Woomera Defence Area closure (on 16 Oct), and drilling will then recommence when the area re-opens in early November. Announcement • Sep 29
Marmota Limited Receives Detailed 1M Assay Results from Extensional RC Drilling Program Marmota Limited announced that it has received the detailed 1m assay results from the extensional RC drilling program at Aurora Tank completed in June 2022. Initial 4m composite results were reported to the ASX on 18 August 2022. Marmota’s highest ever gold intersection: The new detailed 1m results has yielded Marmota’s best ever 1m intersection of 217 g/t gold, at 118m downhole1 [ Hole 22ATRC024 ]. Fire assays of the sample returned a grade of 230 g/t, with a further test returning 203 g/t, yielding an average of 217 g/t gold. This is the fifth drilling program at Aurora Tank in which Marmota has intersected grades of ~ 100 g/t gold (or more) over 1m. New high-grade 1m intercepts over 10 g/t gold include: 1m @ 217 g/t gold (from 118m downhole) in Hole 22ATRC024; 1m @ 42 g/t gold (from 77m downhole) in Hole 22ATRC025; 1m @ 32 g/t gold (from 32m downhole) in Hole 22ATRC001; 1m @ 28 g/t gold (from 43m downhole) in Hole 22ATRC034; 1m @ 22 g/t gold (from 75m downhole) in Hole 22ATRC067; 1m @ 14 g/t gold (from 20m downhole) in Hole 22ATRC020; 1m @ 13 g/t gold (from 93m downhole) in Hole 22ATRC040; 1m @ 12 g/t gold (from 114m downhole) in Hole 22ATRC003; and 1m @ 10 g/t gold (from 68m downhole) in Hole 22ATRC055. Purpose of program: Aurora Tank May/June RC: Program designed to either close off or expand, as MEU seeks to define extent of open pit at Aurora Tank.; Program was entirely extensional, testing either the limits of known mineralisation, or depth extensions.; This is the 9th successive program (AC or RC) at Aurora Tank – all of which have yielded high-grade gold.; High-grade extensions to the SW and at depth; and High-grade extensions to the NE. New High-grade Extensions to the SW and at depth: A desirable feature of Aurora Tank is the prevalence of very high grades close to surface [ typically just 20m to 50m from surface – see Summary Highlights (p.9) below ]. The company's previous program was the first time that Marmota intersected high grade gold at depths below 80m, including 1m @ 36 g/t gold from 120m downhole [ Hole 20AT303 ]. In this new May/June program, the latter appears to be developing into a new distinct separate zone featuring the exceptional new 1m intersection of 217 g/t gold [ Hole 22ATRC024 ] from 118m downhole adjacent. This new zone appears structurally distinct and separate from the high-grade NW flank, and is deeper than the NW flank. This new high-grade zone appears to be following a similar orientation to the adjacent NW flank, becoming shallower to the SW and deeper to the NE. A high priority at Aurora Tank is to see if can track it and develop it to the South West (and closer to surface). The prize would be another high-grade zone like the NW flank, offset to the SW. Follow-up drilling is an immediate high priority. High-grade Extensions to the NE: Aurora Tank remains open to the NE, with the north-easterly holes returning multiple high-grade extensions over 10 g/t. Follow-up drilling here is also a high priority. Announcement • Sep 28
Marmota Limited, Annual General Meeting, Nov 24, 2022 Marmota Limited, Annual General Meeting, Nov 24, 2022. Agenda: To consider re-election of director. Announcement • Aug 24
Marmota Limited Announces Wildcat Hole Finds Gold and REE on Comet Marmota Limited announced results from the first drilling carried out by any company ever on the Comet(West) Tenement EL 6084, located to the south of Aurora Tank. Accelerated Discovery Initiative (ADI) Program on Comet: First drilling ever (apparently by anyone)on the Comet (West) tenement EL 6084; 7 reconnaissance holes drilled on Comet as part of ADI program; Single isolated wildcat hole intersectsgold (1.3g/t over 4m) at 44m from surface and highly elevated REE; Potential for a new discovery; Hidden at surface: no gold-in-calcrete expression of gold at surface. Marmota drilled 7 reconnaissance holes on the Comet (West) tenement. These were the first 7 holes ever drilled on the tenement. One of the holes [ Hole 22ADIRC017 ] intersected significant gold at 44 m downhole, averaging 1.3 g/t gold over the 4m composite interval. The hole is located en échelon with the Aurora Tank gold discovery and the Mars gold deposit to the NE. The same hole is also highly anomalous in REE (Rare Earth Elements). For a first pass drill program, with no gold-in-calcrete anomaly at surface, and with just 7 holes on a new tenement, it appears as an extremely promising start. Announcement • Aug 18
Marmota Announces Aurora Tank Assay Results Receives from the Rc Drilling Program Completed in June 2022 Marmota announced that Aurora Tank assay results have been received from the RC drilling program completed in June 2022. Aurora Tank Program designed to either close off or expand, as MEU seeks to define extent of open pit at Aurora Tank Drilling yielded new high-grade gold extensions including: 4m @ 18 g/t gold (from 76m downhole’) — [ Hole 22ATRCO25 |. 4m @ 12 g/t gold (from 116m downhole) —_ [ Hole 22ATRC024 |. 4m @ 628/t gold (from 72m downhole) [Hole 22ATRC06?7 |. Program was entirely extensional, testing either the limits of known mineralisation, or depth extensions. This is the 9" successive program (AC or RC) at Aurora Tank — all of which have yielded high-grade gold. New High-grade Extensions to the SW and at depth A most desirable feature of Aurora Tank is the prevalence of very high grades close to surface [ typically just 20m to 50m from surface - see Summary Highlights (p.7) below ]. previous program was the first time that Marmota intersected high grade gold at depths below 80m, including 1m @ 36 z/t gold from 120mdownhole [ Hole 20AT303 J. In this new May/June program, the latter appears to be developing into a new distinct separate zone including 4m @ 12 g/t from 116m downhole [ Hole 22aTRCO24 }] adjacent. This new zone appears structurally distinct and separate from the high-grade NW flank, and is deeper than the NW flank. This new high-grade zone appears to be following a similar orientation to the adjacent NW flank, becoming shallower to the SW and deeper to the NE. A high priority at Aurora Tank is to see if can track it and develop it to the South West (and closer to surface). The prize would be another high-grade zone like the NW flank, offset to the SW. Selective follow-up drilling is necessary. High-grade Extensions to the NE Aurora Tank remains open to the NE, with the most north-easterly hole drilled to date returning 4m at 6g/t from 72m (and with grade improving). Selective follow-up drilling is necessary. Announcement • Jul 21
Marmota Limited announced that it expects to receive AUD 2.5 million in funding Marmota Limited announced that it will issue 47,169,812 common shares at a price of AUD 0.05300 for gross proceeds of AUD 2,500,000 on July 20, 2022. The transaction will include participation from institutional and sophisticated investors. The company will also issue one attaching unlisted option for every two new shares subscribed for, exercisable at AUD 0.010 with a 2 year expiry. The transaction is expected to close on July 27, 2022. Announcement • Jun 24
Marmota Limited Announces Completion of Drilling Program At Aurora Tank Gold Marmota Limited announced that the drilling program at Aurora Tank has now been completed. The program was recently expanded from 10,000m (original) to 12,000m. PROGRAM: May/June 2022. RC drill program: 99 holes - original 8 5holes. Total RC drilling: 12,000m (approx.)- original 10,000m. Hole depths: Average: 121m (Max: 200m). Of the 99 holes, 79 are at Aurora Tank, and 20 are reconnaissance holes on surrounding tenements. Samples will shortly be transported to Adelaide for laboratory testing. Assay results currently expected in approximately 6 weeks. The program also includes a number of holes that form part of the Accelerated Discovery Initiative (ADI) at both Aurora Tank and on surrounding tenements (Woorong Downs and Comet). Some of these holes are early stage reconnaissance work. Announcement • Jun 16
Marmota Limited Receives First Pit Wall Design to Uses Design of Open Pit At Aurora Tank Marmota Limited announced that it has received the first pit wall parameters to be used in the design of an open pit at Aurora Tank. The pit wall design was carried out by Rock test, a specialised Geotechnical Engineering consultancy, based on analysis and testing of diamond core obtained from the company's recent diamond drilling program at Aurora Tank. The work determines the first realistic pit wall parameters for the design of an open pit at Aurora Tank. Technical Details the Aurora Tank deposit is hosted in Christie Gneiss, a metamorphic rock. Locally, this has under gone lower temperature metamorphism (referred to as retrograde metamorphism) that has caused the development of schistocity so that mineral grains have become orientated in such a way that the rock is easily split in to thin flakes or plates. This layering in the rock(foliation) results in the gneiss being highly anisotropic i.e. the rock is significantly stronger perpendicular to the foliation than along the foliation. The engineering characteristics of the gneiss vary significantly with weathering grade, which varies with depth. Weathering in the upper part can result in the serocks displaying soil like characteristics, whereas in the less weathered and fresh rock zones, the areal extent and frequency of structural discontinuities (e.g. joints,foliations,shears,and faults)willhavethegreatestinfluenceonrockmassstability.Thegroundwaterlevelwas assumed to beat approximately 70m Below Ground Level(`BGL') so the pit walls in domains D1 to D3 are expected to be dry, as will domains D4 and D5. In the latter two, local sumps in the floor of the pit are expected to be required. Announcement • May 26
Marmota Announces Drilling Program At Aurora Tank Marmota announce that the drilling program at Aurora Tank is being expanded. The program is progressing extremely well with 7,750 m already completed. The program is being expanded from 10,000m to 12,000m. Announcement • Apr 27
Marmota Limited Announces High Value Rare Earth Element Discovery in the Gawler Craton Marmota Limited announced high value rare earth element discovery in the Gawler Craton. Petratherm carried out a program of 993 shallow RAB holes(typically only 15m deep), of which 44 were subjected to full-suite REE analysis returning highly anomalous values. The discoveryis`regionally extensive extending several kilometres':drill holes are generally on a wide 400m grid, over a mineralised area atleast 20km longand 7km wide. The discovery lies immediately adjacent to Marmota tenements. Sampling stopped at the tenement boundary. Some of the higher rare earth inter sections occur on the Marmota tenement boundary. This hole on the boundary also yielded the higher of the exceptional high-value magnet results. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Non-Executive Director of Production & Director Neville Bergin was the last director to join the board, commencing their role in 2021. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 14
Marmota Announces Assay Results from 16-Hole Diamond Drilling Program At Aurora Tank Marmota announced assay results from the 16-hole diamond drilling program at Aurora Tank completed in October 2021. The diamond program is primarily a production-focused program, designed to Provide the necessary detail to advance Aurora Tank to production, including: (i) Geotechnical: design of optimal pit walls. (ii) Bulk density measurements: required for resource estimation and scoping/feasibility studies. (iii) Bulk samples to enable final phase metallurgical testing. In December 2021, detailed structural logging of the core was carried out, along with multiple Geo technical analyses, prior to core cutting and being sent for assaying. Assays have now arrived. Featured new high grade gold intersections, close to surface, include: 3.6m @25g/t gold from 29m [Hole21ATDD01]; 3.4m @12g/t gold from 44m [Hole21ATDD14]; 1m @21g/t gold from 66m [Hole21ATDD10]; 2m @9g/t gold from40m Hole21ATDD08] Importantly, the program has yielded the first high-grade gold on the NE of the deposit, including 1m@21g/tinHole21ATDD10. This is particularly relevant, as Marmota will be testing The sub-parallel zone extensions (parallel to the NW flank) in the current RC program that has just. This is the 9th successive program at Aurora Tank to yield multiple high-grade gold intersections. Announcement • Apr 12
Marmota Limited Announces Aurora Tank Gold Drilling has Commenced Marmota Limited announced that drilling has commenced. Program April 2022 includes RC drill program: 85holes (approx.), total RC drilling: 10,000m (approx.), hole depths: average:117m(Max:200m). Drilling expected to take approximately 5weeks and is fully funded. For overview of planned hole locations. NW Flank testing further extensions to the new NW flank. The NW flank has recently tripled in strike and is yielding outstanding intersections such as 3m@72g/t gold (from 66m) including 1m@197 g/t gold, 5m@27 g/t gold (from 38m) including1m@105 g/t gold, 3m@29 g/t gold (from 63m) including1m@74 g/t gold, 4m@15 g/t gold (from 67m) including1m@53 g/t gold. Sub-parallel Extensions to the N and NE (in parallel to the NW flank). Extensions at depth targeting primary mineralization. Extensions to the east of the AuroraTankmineralisedzone1. Selected drilling to aid resource modelling and optimal pit design, or where previous holes were not deep enough. Announcement • Apr 01
Marmota Limited Announces Aurora Tank Gold Update Marmota announced that its team has been onsite at Aurora Tank for almost A week in preparation for the April 2022 RC drilling program. Marmota has upgraded its Capacity with first company owned earth moving equipment arriving onsite, and work has already commenced on preparing sumps and drill pads. The acquisition of own equipment allows Marmota to proceed with operations with less reliance on external contractors when preparing for drilling on both 100% owned and JV tenements. The drilling team are expected to arrive this weekend. Recent Insider Transactions • Mar 09
Executive Chairman recently bought AU$93k worth of stock On the 7th of March, Colin Rose bought around 2m shares on-market at roughly AU$0.042 per share. This was the largest purchase by an insider in the last 3 months. Colin has been a buyer over the last 12 months, purchasing a net total of AU$226k worth in shares. Announcement • Feb 22
Marmota Limited Announces First Bleg Analysis Yields Gold Grades of 200 G/T Marmota advised that the first Bulk Leach Extractable Gold (BLEG) analysis of gold samples from Aurora Tank has yielded grades over 200 g/t gold.The assaying of high grade intersections via the BLEG method is an important step for resource estimation and to test the accuracy of bonanza fire assay grades reported in February 2021. The high-precision BLEG method has not only confirmed the bonanza results, but yielded even higher average grades over the same intervals, and has returned the ever gold assays at Aurora Tank of 235 g/t gold over im. The BLEG tests were designed to provide confidence for resource estimation and confirmation of high-grade fire assay results at Aurora Tank, and as a check against so-called nugget effects. The precision of BLEG test results is high due to much larger sample sizes. BLEG testwork is a much more expensive method of conducting assaying. Methodology In industry standard fire assays (as normally used by Marmota], the Lr split sample is crushed, and then a small sub-sample of approximately 40g is callected for assaying. Because the sample taken for assaying is so small, the fire assay method can fall prey ta the so-called ‘nugget effect’. Gold is particularly susceptibie to the nugget effect, and it can be very difficult to completely homagenise a sample during sample prep, making it hard to obtain a statistically representative sample. BLEG anatysis, by contrast, dramatically reduces the nugget effect by using much larger samples to produce what is generally considered the most accurate results of any metallurgical testing process. For the BLEG analysis, Marmata collected 4 new large 1 kg samples fram the original 1m split bags at Aurora Tank. Each large 1 kg sampse was then pulverised and the entire 1 kg crushed sample was then leached in a cyanide solution for 24 hours to extract its gold content. The purpose of the test was to determine, as clase as possible via the BLEG method, the full gald content cantained in each 1 kg sample. For completeness, the residue was then subjected ta another cyanide digest. Using this method, 99% of the gold collected from the samples was retumed within 24 hours, with a further 1% collected from the residue. This modified BLEG procedure was. designed to reveal the full gold content of the samples. Announcement • Nov 24
Marmota Limited Archive Search Reveals More Than 40 Untested Gold Anomalies Marmota is pleased to advise that, subsequent to its completion of the acquisition of the Jumbuck Gold project Marmota has been carrying out a comprehensive Search of archival and historical gold-in-calcrete sampling across Marmota's Gawler Craton Gold project (including the newly acquired tenements and gold interests). Search of archives and historical results has already yielded more than 40 untested gold-in-Calcrete anomalies on the tenements adjacent/near to the Challenger gold mine (which Produced 1.2 million ounces) and Marmota's Aurora Tank discovery. The calcrete sampling extends back to the days of Dominion and Resolute and the discovery of The Challenger gold mine. Remarkably, these anomalies have never been followed up, and they remain untested. Dominion Mining originally identified anomalous gold-in-calcrete near the surface to be an indicator of gold Below surface in the area. Both Challenger and Aurora Tank were found by testing near surface calcrete for Anomalous gold. Marmota has already yielded multiple outstanding intersections exceeding 100 g/t gold over 1m at the Aurora Tank gold discovery, all close to surface, including most recently their best ever result of 165 g/t gold over 1m (approx. 57m from surface). An assay of 10ppb gold-in-calcrete is considered to be anomalous in gold (Au). For comparison, the highest ever gold-in-calcrete result recorded at the Aurora Tank (Goshawk) discovery was 38 ppb Au (including all detailed in-fill sampling down to a 50m grid size). Announcement • Aug 21
Marmota Limited Provides A Further Update on the Diamond Drilling Program At Aurora Tank Marmota Limited provided a further update on the diamond drilling program at Aurora Tank. The majority of the shorter holes in the program have now been drilled, with some holes having to be abandoned as the rig provided was unable to achieve the required depth and with a number of ongoing rig issues. For the longer/deeper holes,it is clear that a more powerful diamond drilling rig will be required, particularly to drill through the fractured ground of interest. Due to strict COVID border closures,the contracted driller(from Queensland) has not been able to bring a larger rig into South Australia. Marmota is now making arrangements for a more powerful rig (already based in South Australia)to be brought to site at Aurora Tank. Drilling has been adjourned pending the arrival of a more powerful rig. A separate team will be carrying out downhole logging to provide borehole structural information for geotechnical assessment, including acoustic and optical imaging, formation density and gyroscopic deviation. Marmota is seeking to complete the program as soon as possible, and working around Woomera Exclusion Zone restrictions. Announcement • Jul 07
Marmota Limited Commences Aurora Tank Gold - Diamond Drilling Marmota Limited has commenced Aurora Tank Gold diamond drilling. Diamond drill program: 14 holes (approx.). Total drilling: 1,000m (approx.). Maximum depth: 200m downhole. Drilling is fully funded and expected to take approximately 1 month. For overview of planned hole locations. Objectives of Diamond Drilling Program: The July 2021 diamond program is primarily a production-focused program, designed to provide the necessary detail to advance Aurora Tank to production, including: Geotechnical: design of optimal pit walls at Aurora Tank. Bulk Density measurements: Required for completing (a) resource estimation and (b) scoping/feasibility studies. Bulk samples to enable final phase metallurgical testing across: different weathering zones(from strongly weathered oxide zones to deeper fresh rock) and different are as of the deposit, including the first diamond drilling in the high-grade NW flank. Announcement • Jul 03
Marmota Provides Brief Update on the Forth Coming Diamond Drilling Program At Its 100% Owned Aurora Tank Gold Discovery Marmota provided brief update on the forth coming diamond drilling program at its 100% owned Aurora Tank gold discovery. The sudden recent closure of State borders due to COVID has posed some unexpected, last minute, logistical challenges to the timely arrival of required equipment from interstate. The diamond drilling rig is currently expected to arrive at Aurora Tank. Recent Insider Transactions • Jun 29
Executive Chairman recently bought AU$72k worth of stock On the 23rd of June, Colin Rose bought around 2m shares on-market at roughly AU$0.04 per share. This was the largest purchase by an insider in the last 3 months. Colin has been a buyer over the last 12 months, purchasing a net total of AU$161k worth in shares. Announcement • Jun 11
Marmota Limited's Aurora Tank Gold Discovery - Diamond Drilling to Commence Marmota announced that: Diamond Drilling is planned to commence in 3 weeks (around 1 July) subject only to final approvals. Contracts have been signed. Objectives of Diamond Drilling Program: The July 2021 diamond program is primarily a production-focused program, designed to provide the necessary detail to advance Aurora Tank to production, including: 1. Geotechnical: design of optimal pit wallsat Aurora Tank; 2. Bulk Density measurements; 3. Bulksamples to enable final phase metallurgical testing across. Executive Departure • May 22
Executive Director of Exploration & Executive Director has left the company On the 11th of May, Kevin John Wills' tenure as Executive Director of Exploration & Executive Director ended after 3.9 years in the role. As of March 2021, Kevin John personally held only 930.06k shares (AU$26k worth at the time). A total of 2 executives have left over the last 12 months. Executive Departure • May 19
Executive Director of Production & Executive Director has left the company On the 11th of May, Shane Barker's tenure as Executive Director of Production & Executive Director ended after 1.7 years in the role. As of December 2020, Shane personally held only 371.09k shares (AU$17k worth at the time). Shane is the only executive to leave the company over the last 12 months. Announcement • Mar 11
Marmota Completes Phase1 of Sampling Program Marmota announced that it has completed Phase1 of sampling program, extending outwards from the gold discovery at Aurora Tank to surrounding tenements. Marmota is testing 1,768 individual sample locations, covering approximately 300km of ground on a 400m spaced sample grid. Exploration work is being jointly funded by the SA Government under a $225,000 grant awarded to Marmota under the Accelerated Discovery Initiative. The exploration ground: includes some of the least explored tenements surrounding the Challenger Gold mine; is adjacent to Marmota's gold discovery at Aurora Tank, and the first time that Marmota has ever carried out work on these adjacent tenements. Announcement • Feb 04
Marmota Limited Receives Detailed 1M Assay Results from the RC Drilling Program at Aurora Tank Marmota announced that it has received the detailed 1m assay results from the RC drilling program at Aurora Tank completed in September 2020. The new detailed 1m results has yielded Marmota’s best ever 1m intersection of 165 g/t gold, at 66m downhole. To ensure that the outstanding assay of 165g/t gold is not the result of a ‘nugget effect’, Marmota collected 5 separate spearings of the drilling sample bag2 and then assayed each spear sample separately by fire assay. Fire assays of the 5 separate spearings returned grades of 223 g/t, 154 g/t, 119 g/t, 121 g/t and 212 g/t respectively, yielding an average of 165 g/t gold. Notably, every one of the 5 spearings returned grades over 100 g/t gold, and two of the five spears yielded assays over 200 g/t gold. This is the fourth drilling program at Aurora Tank in which Marmota has intersected grades of 100 g/t gold (or more) over 1m, and now in 4 distinct areas. The new NW flank has reported multiple high-grade assays. The NW flank is a new zone discovered in Marmota’s previous 2019 drilling program while following up elevated gold in biogeochemical sampling (tree sampling). One year ago, the NW flank (red-dashed line) was known to extend approximately 95m in a NE direction. At the end of this program, the NW flank now extends about 3 times that distance (285m) in a north-easterly direction and remains open along strike. The last hole drilled at the top (north) of the NW flank Hole 20ATRC313 yielded 1m @ 30 g/t (82m downhole) –– and remains open. Marmota has been fortunate to intersect very high gold grades close to surface. Importantly, this program is the first time that Marmota has also intersected high grade gold at depths below 80m. In particular, reconnaissance Hole 20ATRC303 designed to test for an extension to the west of the NW flank intersected 1m at 36 g/t (2m @ 21g/t) at a depth of 122m downhole. Follow up drilling is necessary. The intersection of 36 g/t Au suggests the presence of high-grade shoots to the west and at depth. The presence of high gold grades at depth is highly encouraging when combined with the reported results from the mineragraphic testwork in May 2020. This test work on gold grains sampled from a high-grade gold intersection at Aurora Tank found the gold grains to be predominantly primary mineralisation with the colour indicating high purity gold. If the host mineralised lodes continue further to depth, they are likely to consist of high purity primary mineralisation. Further RC and Diamond drilling is being planned. Marmota has been drilling local water bores at Aurora Tank to supply both intended Diamond drilling, and to supply a potential heap leach operation, and to support the camp. Marmota is exploring options to bring Aurora Tank into production by low-cost low-capex openpittable mining, including heap leach methods, following very successful column leach testing results. Announcement • Dec 04
Marmota Limited Announces Commencement of Environmental Study at Aurora Tank MarmotaLimited announced that its first ever environmental study at Aurora Tank is now underway with the arrival of a specialist ecology team. The survey (fauna and flora) is a necessary component for a Mining Lease application. Early next week, a water bore drilling team+drill rig will be arriving at Aurora Tank- drilling for water. Water is needed for the diamond drilling program (currently planned for January), to feed a heap leach operation, and for the camp. Announcement • Sep 14
Marmota Limited Completes RC Drilling At Aurora Tank Marmota Limited advised that RC drilling at Aurora Tank has completed. The RC drilling rig generally achieved excellent sample recovery, and excellent productivity with typical daily drill rates of between 300m and 400m. The RC drill program tests a number of objectives, including multiple new extensional Targets and selected in-fill drilling to aid resource modelling and optimal pit design, or where previous holes were not deep enough. The program also includes an R&D component modelling surface expressions of geochemical/biogeochemical anomalism in relation to underlying mineralisation. Marmota's R&D program has received international recognition, and has recently been boosted by a $225,000 grant from the South Australian Government under the Accelerated Discovery Initiative (ADI). Marmota announced with the performance of new semi-permanent campat Aurora Tank which has already greatly facilitated the operational carriage of this program and which also bodes well for future operational pathway. Announcement • Jul 22
Marmota Limited announced that it has received AUD 6.5 million in funding On July 22, 2020, Marmota Limited (ASX:MEU) closed the transaction. Announcement • Jul 17
Marmota Limited announced that it expects to receive AUD 6.5 million in funding Marmota Limited (ASX:MEU) announced a private placement of 122,641,510 shares at a price of AUD 0.053 for gross proceeds of AUD 6,500,000.03 on July 15, 2020. The company will also issue one attaching unlisted option for every two new shares subscribed for, exercisable at AUD 0.10 with a 2 year expiry. The transaction will include participation from sophisticated and professional investors. The transaction is expected to close on July 22, 2020. 