New Risk • Mar 14
New major risk - Revenue and earnings growth Earnings have declined by 16% 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 Share price has been highly volatile over the past 3 months (20% average weekly change). Earnings have declined by 16% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$4.09m market cap, or US$2.86m). Minor Risk Shareholders have been diluted in the past year (16% increase in shares outstanding). Announcement • Mar 06
Golden Mile Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 0.73 million. Golden Mile Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 0.73 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 116,666,667
Price\Range: AUD 0.006
Discount Per Security: AUD 0.00036
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 5,000,000
Price\Range: AUD 0.006
Discount Per Security: AUD 0.00036
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Announcement • Dec 03
Golden Mile Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 0.510823 million. Golden Mile Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 0.510823 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 81,637,178
Price\Range: AUD 0.006
Discount Per Security: AUD 0.00036
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 3,500,000
Price\Range: AUD 0.006
Discount Per Security: AUD 0.00036
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing New Risk • Nov 26
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 19% 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 (19% average weekly change). Shareholders have been substantially diluted in the past year (32% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$3.76m market cap, or US$2.44m). New Risk • Sep 30
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2024. 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 Risks Shareholders have been substantially diluted in the past year (52% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$6.26m market cap, or US$4.13m). Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Share price has been volatile over the past 3 months (18% average weekly change). Announcement • Sep 29
Golden Mile Resources Limited, Annual General Meeting, Nov 25, 2025 Golden Mile Resources Limited, Annual General Meeting, Nov 25, 2025. Announcement • Aug 22
Golden Mile Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 0.510823 million. Golden Mile Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 0.510823 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 81,637,178
Price\Range: AUD 0.006
Discount Per Security: AUD 0.00036
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 3,500,000
Price\Range: AUD 0.006
Discount Per Security: AUD 0.00036
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing New Risk • Apr 03
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 32% This is considered a major 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 Risks Share price has been highly volatile over the past 3 months (24% average weekly change). Shareholders have been substantially diluted in the past year (32% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$4.90m market cap, or US$3.10m). Announcement • Feb 27
Golden Mile Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 0.48025 million. Golden Mile Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 0.48025 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 16,900,000
Price\Range: AUD 0.01
Discount Per Security: AUD 0.0006
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 29,125,000
Price\Range: AUD 0.01
Discount Per Security: AUD 0.0006
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 2,000,000
Price\Range: AUD 0.01
Discount Per Security: AUD 0.0006
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Announcement • Jan 23
Golden Mile Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 0.85 million. Golden Mile Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 0.85 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 61,600,000
Price\Range: AUD 0.01
Discount Per Security: AUD 0.0006
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 16,000,000
Price\Range: AUD 0.01
Discount Per Security: AUD 0.0006
Security Features: Attached Options
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 7,400,000
Price\Range: AUD 0.01
Discount Per Security: AUD 0.0006
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing New Risk • Jan 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 44% This is considered a major 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 Risks Share price has been highly volatile over the past 3 months (19% average weekly change). Shareholders have been substantially diluted in the past year (44% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$4.26m market cap, or US$2.65m). Announcement • Oct 26
Golden Mile Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 0.48025 million. Golden Mile Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 0.48025 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 48,025,000
Price\Range: AUD 0.01
Discount Per Security: AUD 0.0006
Transaction Features: Subsequent Direct Listing Announcement • Oct 02
Golden Mile Resources Limited, Annual General Meeting, Nov 29, 2024 Golden Mile Resources Limited, Annual General Meeting, Nov 29, 2024. New Risk • Oct 01
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 Risks Revenue is less than US$1m (AU$12k revenue, or US$8.3k). Market cap is less than US$10m (AU$4.93m market cap, or US$3.42m). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Share price has been volatile over the past 3 months (15% average weekly change). Shareholders have been diluted in the past year (25% increase in shares outstanding). Announcement • Feb 12
Golden Mile Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 1.063834 million. Golden Mile Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 1.063834 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 81,833,348
Price\Range: AUD 0.013
Transaction Features: Subsequent Direct Listing Announcement • Feb 07
Golden Mile Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 1.063834 million. Golden Mile Resources Limited has filed a Follow-on Equity Offering in the amount of AUD 1.063834 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 81,833,348
Price\Range: AUD 0.013
Transaction Features: Subsequent Direct Listing Announcement • Jan 15
Golden Mile Resources Limited Announces Change of Company Secretary Golden Mile Resources Limited announced that Ms Elizabeth Spooner of Automic Group has resigned as Company Secretary of the Company. Ms Spooner tendered her resignation from Automic Group and will be replaced by Mr. Jack Rosagro, effective immediately. The Board wishes to thank Ms Spooner for her services to the Company. Jack Rosagro is Chartered Company Secretary, a Fellow of Governance Institute of Australia, and holds a Bachelor of Commerce majoring in Finance. He has 18 years' experience in capital markets, share registry, and governance. He is currently the company secretary for several listed and unlisted public companies across a range of industries, including mineral exploration, technology and biotechnology. For the purpose of ASX Listing Rule 12.6, Mr. Jack Rosagro will be the person responsible for communications between the Company and ASX. Announcement • Oct 26
Golden Mile Resources Limited, Annual General Meeting, Nov 30, 2023 Golden Mile Resources Limited, Annual General Meeting, Nov 30, 2023, at 12:00 W. Australia Standard Time. Location: Automic Offices at Level 5, 191 St Georges Terrace Perth Western Australia Australia Agenda: To consider the Annual Financial Report of the Company for the financial year ended 30 June 2023 together with the declaration of the Directors, the Director's Report, the Remuneration Report and the Auditor's Report; to consider re-election of Grant Button as Director; to consider approval of Future Issue of Securities; to consider approval of Issue of Shares to Sophisticated Investors; to consider replacement of Constitution; and to consider any other matter thereof. Announcement • Oct 12
Golden Mile Resources Limited Announces Change of Company Secretary Golden Mile Resources Limited announced that Ms. Nova Taylor of Automic Group has resigned as Company Secretary of the Company. Ms. Taylor tendered her resignation from Automic Group and will be replaced by Ms. Elizabeth Spooner, effective immediately. Elizabeth Spooner is a lawyer and qualified governance professional and Associate of the Governance Institute of Australia (GIA), who holds a Juris Doctor degree from the Australian National University, a Bachelor of Business Administration, and a Graduate Diploma of Applied Corporate Governance from the Governance Institute. She is an experienced governance and compliance professional who works closely with several boards of both listed and unlisted public companies across a range of industries, including pharmaceuticals, biotechnology and life sciences, healthcare, materials, and capital goods. For the purpose of ASX Listing Rule 12.6, Ms. Elizabeth Spooner will be the person responsible for communications between the Company and ASX. New Risk • Jul 09
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 62% This is considered a major 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 Risks Less than 1 year of cash runway based on free cash flow trend (-AU$2.3m free cash flow). Share price has been highly volatile over the past 3 months (43% average weekly change). Earnings have declined by 6.8% per year over the past 5 years. Shareholders have been substantially diluted in the past year (62% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$18.8m market cap, or US$12.6m). Announcement • Jun 13
Golden Mile Resources Limited Appoints Damon Dormer as Managing Director Golden Mile Resources Limited announced that the Company's current Chief Executive Officer Mr. Damon Dormer has been appointed to the role of Managing Director. His experience in project development is invaluable for leading Quicksilver nickel-cobalt project through the technical workflows and, results pending, into formal studies. He has With the growing project portfolio requirements Jordan Luckett will move into the Technical Director s role and lead the geological management and advancement of the portfolio, including the Quicksilver project, and the highly prospective Yuinmery project. A Mining Engineer with over 26 years of experience inclusive of 15 years mine management and executive roles, Damon has worked in studies, projects, operations and innovation across Australia, USA, Papua New Guinea and Africa. Damon has had considerable success turning around mining projects and studies resulting in the construction of multiple mines in Africa as well as significant operational success in Australia. He has also been heavily involved in mining innovation and has personally developed techniques and strategies for the mining industry. Damon holds a Bachelor of Engineering in Mining from the Western Australian School of Mines and has held numerous statutory appointments across the African and Australasian regions. Announcement • Feb 09
Golden Mile Resources Limited Appoints Damon Dormer as Chief Executive Officer, Effective 1 March 2023 Golden Mile Resources Ltd. announced the appointment of experienced mining executive, Mr. Damon Dormer as Chief Executive Officer (CEO). Damon will commence his duties as CEO on 1 March 2023. Damon's appointment reflects the increasing confidence in Golden Mile's 100% owned Quicksilver Nickel Cobalt Project. Following the Stage 2 metallurgical testwork that demonstrated a potential pathway to production of multiple products, it became evident to the Board that appointing someone with both mining and engineering skills would be important in guiding the Company through the various studies required to progress the project forward and possibly into production. A Mining Engineer with over 26 years of experience inclusive of 15 years mine management and executive roles, Damon has worked in studies, projects, operations and innovation across Australia, USA, Papua New Guinea and Africa. Damon has had considerable success turning around mining projects and studies resulting in the construction of multiple mines in Africa as well as significant operational success in Australia. He has also been heavily involved in mining innovation and has personally developed techniques and strategies for the mining industry. Damon holds a Bachelor of Engineering in Mining from the Western Australian School of Mines and has held numerous statutory appointments across the African and Australasian regions. The current Managing Director, Jordan Luckett, will remain with the Company and continue as an Executive Director. Announcement • Jan 19
Golden Mile Resources Limited Announces REE Mineralisation at Quicksilver Ni-Co Project Golden Mile Resources Limited advised that assay results have confirmed Rare Earth Element mineralisation at its 100% owned Quicksilver clay hosted Nickel-Cobalt Project. Golden Mile previously reported that a review identified the potential for the Quicksilver Nickel-Cobalt Project to contain REE mineralisation and submitted 29 1m pulp samples held in storage for assay. The Company has now received these results confirming there is significant REE mineralisation potential at the Project. These positive results allow the Company to investigate the potential for REE by-products to be incorporated into the process flowsheet which is currently being developed for nickel, cobalt,chromium, iron, and industrial minerals at Quicksilver. The next investigation will determine how much of the REE mineralisation is ionic, that is the amount of REE that is loosely bound to the clay host that can be liberated using low-cost methods typical for this style of mineralisation. If this investigation demonstrates there is a significant component of ionic REE mineralisation, then REE by-product potential can be assessed and incorporated into the process flowsheet if warranted. Golden Mile can differentiate itself from most other REE explorers in that the Quicksilver project is a multi-commodity deposit with nickel and cobalt as the current main economic drivers followingexcellent Stage 2 metallurgical results last year which demonstrated a potential pathway to production. This means that if the REE mineralisation is viable it will be in addition to these commodities which will be a significant economic benefit when compared to an REE only project. Furthermore, the cost and time of ongoing investigations into the viability of the REE mineralisation can also be significantly reduced because there is existing resource drilling which can be re-assayed for REO. Also, any metallurgical testwork and subsequent flowsheet design can be incorporated into the Stage 3 metallurgical testwork scheduled to commence late next month. Announcement • Dec 30
Golden Mile Resources Limited Announces New REE and Base Metal Targets at Yarrambee Golden Mile Resources Limited advised that a geochemical review of its Yarrambee Base Metals Project has been completed. The Company has also receivedassay results from RC drilling at Narndee completed in October 20221. The 100% owned Yarrambee Project is located approximately 500 km north-east of Perth within the Murchison region of Western Australia. The Project is prospective for both Volcanogenic Massive Sulphide ("VMS") copper-zinc sulphide mineralisation and magmatic nickel-copper-platinum group element ("PGE") sulphide mineralisation. Historical and Company drilling to date has confirmed copper and zinc mineralisation associated with sulphide mineralisation within a volcano-sedimentary sequence which has some similarities with the Golden Grove VMS deposit located approximately 115km to the west. The Project also contains a large area of the Narndee Igneous Complex ("NIC"), a layered intrusion that historical work in the region has shown to be prospective for magmatic nickel sulphide mineralisation. The Company engaged geochemical consultant GCXplore Pty Ltd. to carry out a review of the historical soil data. The review identified 21 VMS copper-zinc, 16 Nickel -PGE, 5 gold and 4 Rare Earth Element ("REE") geochemical anomalies to be followed up. In addition to the base metal anomalies the review identified four REE geochemical anomalies based on Cerium ("Ce") assays. There was only a limited amount of soil samples assayed for cerium and the majority of historical soil samples were not assayed for REEs. Announcement • Dec 21
Golden Mile Resources Limited Announces Board Changes Golden Mile Resources Ltd. advised that Non-Executive Chairman Rhoderick (Rhod) Grivas has resigned as Non-Executive Director and Chairman of the Company. Mr. Grivas joined Golden Mile in March 2017 as the inaugural Chair of the Board and has continued to lead and support the Board and Executive as Chair since his appointment. The Board extends its Mr. Grivas for his committed service to the Company including through its pivotal public listing process and subsequent period of significant operational change and growth. The Board has elected current Non-Executive Director Mr. Grant Button as Chairman effective immediately. Announcement • Dec 06
Golden Mile Resources Limited Announces REE Mineralisation At Quicksilver Golden Mile Resources Limited announced that a review of its Quicksilver clay hosted nickel-cobalt deposit has concluded there is potential for Rare Earth Element ("REE") mineralisation. Golden Mile initiated a review of the REE potential of the Quicksilver oxide clay hosted nickel cobalt deposit prior to finalising a metallurgical diamond drill test work program, planned for early next year, to ensure that any further considerations can be incorporated into the program. The review identified Cerium mineralisation in 15 drill holes broadly distributed (1.7km x 0.4km) throughout the orebody. Encouraging grades encountered with the best result of 4m @ 3297ppm Ce2O3 from 6m (including 1m @ 6196ppm from 8m) in hole QRC0061. Cerium is an REE that always occurs in combination with the other REEs. It is normally the most abundant and therefore has a greater chance of being detected when using standard assay techniques applied in base metal exploration. This makes Cerium a good indicator for REE potential in historical drilling targeting other styles of mineralisation. The Cerium assays, on which the REE review is based, were included as part of the element suite in the analysis optimised for nickel-cobalt determination used for the estimation of the Quicksilver nickel-cobalt resource. Furthermore, REE mineralisation is based on a suite of elements reported as Total Rare Earth Oxide ("TREO") of which Cerium is just one. Therefore, the Ce2O3 results are partial only and need to be re-assayed using the appropriate technique to determine more precise Ce2O3 and measure the additional rare earth element mix. The Company has collected the sample pulps which were held in storage and submitted the 30 samples 1000ppm Ce2O3 for analysis to determine the TREO content using the appropriate analysis method. If the initial re-assay results are positive the Company will submit all the remaining pulps from the nickel-cobalt resource drilling for analysis allowing fast low-cost advancement of the REE potential without the need for further drilling in the short term. The Company will also be able to incorporate any potential REE metallurgical studies into the current planned program if warranted. This would allow rapid advancement of the REE potential of the project without a requiring a lot of the additional costs compared to a greenfields discovery. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Non-Executive Chairman Rhod John Grivas was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Nov 04
Golden Mile Resources Limited Receives Assay Results from 1M Resampling of Drilling Carried Out At Its Yuinmery Gold and Base Metal Project Golden Mile Resources Limited advised that it has received assay results from the 1m resampling of drilling carried out at its 100% owned Yuinmery Gold and Base Metal Project, located in the Murchison region of Western Australia. The Company previously announced positive gold results from 4m samples from the drilling: The 1m sample results were in line with expectations with the best results as follows: YAC032: 6m @ 1.49 g/t gold from 12m (including 1m @ 7.30 g/t); and YAC018: 5m @ 1.35 g/t gold from 6m (including 1m @ 3.20 g/t and 1m @ 2.17g/t); Yuinmery Project upgraded by these positive gold results.; Results demonstrate the high-grade potential of gold bearing reefs along the Yuinmery Fault.; Gold mineralisation is co-incident with geophysical structural targets that remain open.; Drilling has confirmed the geological setting is highly prospective for gold.; Follow up drilling required to close off mineralisation and test new targets. The Yuinmery Project is situated in the Youanmi Gold Mining District, approximately 10km east of the Youanmi Gold Mine, in the Murchison region of Western Australia. Recently there has been several significant gold discoveries within the Youanmi district which include Rox Resources Ltd.'s Youanmi Gold project and Ramelius Resources Ltd.'s high grade Penny West project. The Company previously announced positive results from 4m composite samples from aircore drilling comprising of 135 aircore holes for 2,271m. The drilling was completed to test the Elephant Reef, Ladies Patch and Hammerhead gold geochemical targets. The holes were initially sampled using compositing 4m intervals ("4m composites"). Subsequently the Company submitted 1m samples collected from the anomalous 4m intervals and the results from the 1m samples have now been received. These 1m sample results were in line with expectations with the best results as follows: YAC032: 6m @ 1.49 g/t gold from 12m (including 1m @ 7.30 g/t); and YAC018: 5m @ 1.35 g/t gold from 6m (including 1m @ 3.20 g/t and 1m @ 2.17g/t). The 1m results confirm that high grade gold mineralisation is associated with quartz veining located within a highly prospective structural setting along the regional scale Yuinmery fault. Furthermore, the best results occur at the end of the drill line traverses and remain open. When the results are interpreted using the newly acquired 50m line spaced detailed aeromagnetic data, there are co-incident aeromagnetic structures which appear to be associated with gold mineralisation which remains untested, and the drilling needs to be extended to cover these areas. In addition to mapping out potential mineralised structures intersected in the aircore drilling there are further structural targets co-incident with or adjacent to untested gold soil anomalies that can be identified in the detailed aeromagnetic data. Next Steps: Golden Mile will plan further aircore drilling to extend the known gold mineralisation and test the adjacent aeromagnetic structure at Elephant Reef, as well as drill testing aeromagnetic structures adjacent to the other geochemical targets. The Company will also carry out further assessment of the nickel potential of the mafic and ultramafic sequence. Announcement • Oct 17
Golden Mile Resources Limited Announces RC Drilling Completed At Yarrambee Golden Mile Resources Limited announced that it has completed a reverse circulation (RC) drilling program at its Yarrambee base metals Project, located in the Murchison region of Western Australia. The RC drill program comprised a total of 10 holes for 1,663 metres. Reverse circulation ("RC") drilling completed at Yarrambee Project 10 holes for 1,663 metres completed All holes successfully reached target depth All holes sampled on 4m intervals, and 1m where sulphides were intersected Samples have been submitted to the lab for assay analysis and preliminary results are expected in approximately 6 weeks The 100% owned Yarrambee Project is located approximately 500 km north-east Perth within the Murchison region of Western Australia. The Project is prospective for both VMS copper-zinc sulphide mineralisation and magmatic nickel-copper-PGE sulphide mineralisation. Historical and Company drilling to date has confirmed copper and zinc mineralisation associated with sulphide mineralisation within a volcano-sedimentary sequence which has some similarities with the Golden Grove VMS deposit located approximately 115km to the west. The Project also contains a large area of the Narndee Igneous Complex ("NIC"), a layered intrusion that historical work in the region has shown to be prospective for magmatic nickel sulphide mineralisation. Previously Golden Mile reported that a promising new target horizon, consisting of structurally controlled hydrothermal copper mineralisation, was intersected in initial drilling carried out at the TBW target which included 2m @ 2.29% Cu and 5.5 g/t Ag from 57m (YERC003). The Company also reported that the drilling completed at the Tank target was inconclusive and more drilling required. The recent drilling included follow-up at TBW, and testing of the high priority Tank target. The drilling also tested three targets identified as potentially structurally controlled hydrothermal copper mineralisation similar to TBW. The remainder of the drilling was completed at the Narndee South, ND1-4 and TB5-7 targets and continued the systematic testing of base metals (Cu, Ni, Zn, Pb) identified in the previously announced airborne electromagnetic ("AEM") and moving loop electromagnetic ("MLEM") surveys. Announcement • Oct 11
Golden Mile Resources Limited, Annual General Meeting, Nov 11, 2022 Golden Mile Resources Limited, Annual General Meeting, Nov 11, 2022, at 12:00 E. Australia Standard Time. Agenda: To consider Adoption of Remuneration Report; to consider Election of Jordan Luckett as Director; to consider Re-election of Rhoderick Grivas as Director; to consider Approval of Future Issue of Securities; and to consider other matters, if any. Announcement • Sep 28
Golden Mile Resources Limited Advises RC Drilling to Commence at Yarrambee Golden Mile Resources Limited advised that reversecirculation "RC" drilling has commenced at its Yarrambee Project. The Company is planning to complete 10 drill holes for approximately 1600 m to test the following targets within the Narndee Cluster: Tank MLEM geophysical target Follow-up of the promising new copper and zinc mineralisation target horizon intersected at TBW prospect Narndee South, ND-4 and T5-9 MLEM targets as part of the Company's systematic program of testing high priority geophysical targets at Yarrambee Test three newly identified structural targets The 100% owned Yarrambee Project is located approximately 500 km north-east Perth within the Murchison region of Western Australia The project is prospective both VMS copper-zinc sulphide mineralisation and magmatic nickel-copper-PGE sulphide mineralisation. Historical and Company drilling to date has confirmed copper and zinc mineralisation associated with sulphide mineralisation within a volcano-sedimentary sequence that has some similarities with the Golden Grove VMS deposits located approximately 115km to the west. The project also contains a large area of the Narndee Igneous Complex ("NIC"), a layered intrusion that historical work in the region has shown to be prospective for magmatic nickel sulphide mineralisation. Previously Golden Mile reported that a promising new target horizon, consisting of structurally controlled hydrothermal copper mineralisation, was intersected in initial drilling carried out at the TBW target which included 2m @ 2.29% Cu and 5.5 g/t Ag from 57m. The Company also reported that the drilling completed at the Tank target was inconclusive and more drilling required1. The current planned drilling will include follow-up at TBW as well as attempt to conclusively test the high priority Tank target. The drilling will also continue the systematic testing of base metal (Cu, Ni, Zn, Pb) targets at Yarrambee identified in the previously announced airborne electromagnetic "AEM" and moving loop electromagnetic ("MLEM"). The Company will initially be sampling the holes in 4m intervals with selective 1m intervals where there are visual signs of possible mineralisation. The 4m samples will be used to identify mineralised intervals for resampling at 1m for final assay results. The Company is anticipating approximately 10 days of drilling and up to 10 weeks for final assay results. Announcement • Sep 16
Golden Mile Resources Limited Announces Resignation of Phillip Grundy as Non-Executive Director Golden Mile Resources Limited announced that Non-Executive Director, Phillip Grundy informed his resignation from the company effective from 15 September 2022 in order to focus on his other professional commitments. Announcement • Aug 23
Golden Mile Resources Limited Provides Lithium Exploration Set to Commence Golden Mile Resources Limited provided an update on its recent lithium acquisitions, located in the Murchison and East Pilbara regions of Western Australia. In the coming weeks the Company is planning to carry out field assessments of its Murchison Lithium Project tenements as well as the northern area of its Yarrambee Copper-Nickel-Zinc Project which is contiguous with Aldoro Resources Limited's tenement where Aldoro has been reporting lithium occurrences at its Wyemandoo Project. The Murchison Lithium Project was acquired by Golden Mile in April this year including Tenement E 20/1005 which has mapped pegmatite with historical tungsten occurrences but does not appear to be assayed for lithium. The Company also applied for two additional Exploration Licenses in the vicinity of its Yarrambee Project located in the Murchison district of Western Australia (WA), based on analysis of the WA State geochemistry database. In the coming weeks the Company will: Sample the known pegmatites with historical tungsten occurrences located on E 20/1005, Conduct field reconnaissance at the other Murchison Lithium Exploration Licences to identify any unmapped pegmatites for rock chip sampling, Conduct field reconnaissance at the northern area of the Yarrambee Copper-Nickel-Zinc Project which is contiguous with Aldoro Resources Limited's tenement where that company has been reporting lithium occurrences at its Wyemandoo Project. The Marble Bar Gold - Lithium Project was acquired by Golden Mile in March of this year. The project is located in the East Pilbara region of Western Australia which is renowned as a world-class lithium province. The region already hosts two of the larger hard rock lithium deposits in the world at Wodgina and Pilgangoora with several other resources defined by other companies. Furthermore, the East Pilbara is increasingly becoming the focus of gold and base metal exploration following the discovery of the Hemi Gold deposit as well as other significant gold projects in the region. Within a 100km radius of the Project are the world-class Wodgina and Pilgangoora lithium mines, the recently discovered Archer lithium deposit, the Warrawoona (1.5Moz), Beatons Creek (0.9Moz), Mt York (0.9Moz) and Bamboo Creek gold deposits, as well as the Sulphur Springs Cu-Pb-Zn deposit. The recent discovery of the Archer lithium deposit by Global Lithium Resources Limited at its Marble Bar Lithium Project (located 20km to east of Golden Mile's E 45/6127) demonstrates the Lithium potential of the Marble Bar region. The prospectivity of the area is further emphasised by Sociedad Quimica y Minera de Chile S. A ("SQM"; the world's second larger lithium producer) entering into a JV to explore Kalamazoo's Marble Bar, Pear Creek and DOM's Hill projects for lithium bearing pegmatites. The project is also located approximately 22km east of the Moolyella Tin/Tantalum field which is thought to be related to the formation of the lithium bearing pegmatites in the region. The tenements are relatively unexplored with only four holes completed all within E45/6127 and no drilling on the other two tenements. The majority of the exploration was stream sediment and rock chip sampling targeting lode and conglomerate hosted gold. There appears to be no recorded exploration specifically targeting lithium or nickel on any of the tenements. The Company is progressing the tenements through to grant with two of three tenements having now commenced the mandatory 4-month advertising period to satisfy Section 4 of the Native Title Act 1993. The Company will seek early access to these tenements to carry out low impact field reconnaissance to identify if there are any unmapped pegmatites. Announcement • Aug 09
Golden Mile Resources Limited Announces Positive Gold Results from Recently Completed Aircore Drilling1 at its 100% Owned Yuinmery Project, in the Murchison Region of Western Australia Golden Mile Resources Limited announced positive gold results from recently completed aircore drilling1 at its 100% owned Yuinmery Project, in the Murchison region of Western Australia. The Yuinmery Project is situated in the Youanmi Gold Mining District, approximately 10km east of the Youanmi Gold Mine, in the Murchison region of Western Australia. Recently there has been several significant gold discoveries within the Youanmi district which include Rox Resources Ltd.'s Youanmi Gold project and Ramelius Resources Ltd.'s high grade Penny West project. The Company previously announced the completion of an aircore drilling program comprising of 135-aircore holes for 2,271 m1. The drilling was completed to test the Elephant Reef, Ladies Patch and Hammerhead gold geochemical targets. The holes were sampled by compositing 4m intervals ("4m composites") and submitting them to the laboratory for multi-element analysis. The Company has now received all the assay results from the submitted 4m composite samples. The results to date are positive with gold mineralization confirmed within a sequence of faulted mafic and ultramafic rocks, demonstrating a highly prospective gold setting. The best results include: YAC032: 4m @ 2.69 g/t gold from 16m. YAC018: 4m @ 2.27 g/t gold from 4m. In addition to the above samples, there were also a number of anomalous results which require further follow. The Company considers 4m composite samples as indicative only for gold and that 1m resampling is required to determine width and grades definitively. These latest drill results demonstrate that the Yuinmery geological setting is highly prospective for gold and that further follow up drilling is required at the Elephant Reef, Ladies Patch and Hammerhead geochemical targets. The results also provide confidence to carry out initial aircore drilling at the 9 remaining untested geochemical targets; YU001, YU002, YU004, YU005, YU006, YU008, YU009, YU011 and YU012 as well as the Poppy's Patch gold reef. Furthermore, from initial observations there appears to be correlation between gold mineralisation and structures mapped by detailed ground magnetic geophysical data, potentially providing the Company a tool for further targeting. Announcement • Jul 14
Golden Mile Resources Limited Appoints Jordan Luckett as Director Golden Mile Resources Limited appointed Jordan Luckett as Director. Date of appointment is 08 July 2022. Announcement • Jul 08
Golden Mile Appoints Jordan Luckett as Managing Director Golden Mile Resources Limited announced the appointment of experienced resources industry executive Jordan Luckett as Managing Director. Jordan has been employed as Exploration Manager for the Company since February 2022. During his career, Mr. Luckett has been a member of a number of successful exploration teams that have made discoveries in Western Australia, Queensland, Canada and Africa. For the previous sixteen years he has held senior management positions in both mining and exploration companies. Mr. Luckett has 27 years' of experience in both exploration and mining geology, having worked throughout Australia, North America and Africa. He has a broad experience that includes board and management, underground mining, resource definition project generation and all facets of exploration. Mr. Luckett has a Bachelor of Science degree and is a member of the Australasian Institute of Mining and Metallurgy. Announcement • May 25
Golden Mile Resources Limited Announces Completion of Aircore Drilling at Yuinmery Golden Mile Resources Limited reported that the previously announced aircore drilling program3 at the Company's 100% owned Yuinmery Project has now been completed. Aircore drilling program completed at Yuinmery; 139-aircore holes for 2,265 m was achieved; Drilling to test the Elephant Reef, Ladies Patch and Hammerhead gold geochemical targets The Yuinmery Project is situated in the Youanmi Gold Mining District, approximately 10km east of the Youanmi Gold Mine, in the Murchison region of Western Australia. Recently there has been several significant gold discoveries within the Youanmi district which include Rox Resources Ltd.'s Youanmi Gold project and Ramelius Resources Ltd.'s high grade Penny West project. These deposits occur within secondary structures that originate from the primary Youanmi fault zone, a large mantle tapping structure which marks the boundary between the Murchison and Southern Cross domains. The Company believes the Youanmi fault zone is a major gold fluid pathway, and that gold mineralisation is formed when these gold fluids make it into favourable structural and lithological trap sites created by the interplay of the Youanmi fault zone and the secondary structures that splay off it. The Company's Yuinmery Project contains approximately 9km strike length of the Yuinmery fault, a major northwest trending structure that is interconnected to the Youanmi fault and may also be a major gold fluid pathway. Within the project area the Yuinmery fault and its associated secondary faults are also located within lithologies that have the potential to form favourable structural and lithological trap sites for gold mineralisation similar to what is observed at Youanmi and Penny West gold projects. Limited historical RAB drilling further highlights the prospectivity of the primary Yuinmery fault with intersections including · 5m @ 1.49g/t Au from 0m and 5m @ 0.28 g/t Au from 5m (94YMR078) · 3m @ 1.33g/t Au from 0m (94YMR077) · 3m @ 1.03g/t Au from 3m (94YMR161)· 5m @ 1.02g/t Au from 2m (93YMR026) The historical RAB drilling is generally shallow with average hole depths ~20m (maximum 59m) with no follow up RC or diamond drilling reported. Interpretation of historical and Golden Mile's soil sampling by the Company's geochemical consultant identified 15 gold-in-soil geochemical targets for further work. The Company has now tested three of these areas; Ladies Patch, Elephant Reef, and Hammerhead. Ladies Patch gold target is an ~2km gold-in-soil anomaly associated within greenstone stratigraphy associated with an aeromagnetic structural target. Results from historical shallow (average 20m) RAB that partly tested the target in the early 1990's (on traverses 200m apart) confirmed gold mineralisation within the structural setting. Results included 5m @ 1.49g/t Au from 0m & 5m @ 0.28 g/t Au from 5m (94YMR078), 3m @ 1.33g/t Au from 0m (94YMR077) , 3m @ 1.03g/t Au from 3m (94YMR161) and 5m @ 1.02g/t Au from 2m (93YMR026) (end of hole intersection). Ladies Patch gold target is an ~2km gold-in-soil anomaly associated within greenstone stratigraphy associated with an aeromagnetic structural target. Results from historical shallow (average 20m) RAB that partly tested the target in the early 1990's (on traverses 200m apart) confirmed gold mineralisation within the structural setting. Results included 5m @ 1.49g/t Au from 0m & 5m @ 0.28 g/t Au from 5m (94YMR078), 3m @ 1.33g/t Au from 0m (94YMR077) *, 3m @ 1.03g/t Au from 3m (94YMR161) and 5m @ 1.02g/t Au from 2m (93YMR026) (end of hole intersection). Elephant Reef target is a north-trending gold in soils anomaly ~800 m x 600 m associated with an aeromantic structural target adjacent to the Yuinmery fault zone. There is no historical drilling and the vendor prospector reported 115 oz gold recovered from quartz vein and 94 oz alluvial gold recovered from adjacent drainage channels. Hammerhead gold target is a large (~1.5km x 800m) gold-in-soil anomaly associated with granite intrusion into mafic and ultramafic rocks. Results from historical shallow RAB that partly tested the target in the early 1990's confirms the setting is prospective for gold with the best result of 3m @ 1.03 g/t gold from 3m (hole ended in mineralisation). Testing the remaining gold-in-soil geochemical targets will be planned once the assay results of this drill program are received so that any follow-up is incorporated into the next drilling program. Next Steps The Company will be initially submitting 4m composite samples for assay to identify gold mineralised zones for re-sampling at 1m intervals using the more accurate fire assay technique. The 4m composite sample assays are not definitive and are used to reduce assay costs by first identifying mineralised zones for further 1m definitive sampling. Laboratories are currently experiencing high demand, so the Company is anticipating 10 to 12 weeks turnaround time to receive the definitive 1m interval fire assay results. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Non-Executive Chairman Rhod John Grivas was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Mar 02
Golden Mile Resources Ltd Provides Yarrambee Drilling Update Golden Mile Resources Ltd. Provided Yarrambee Drilling Update. Company completed 7 reverse circulation drill holes for 1,168m in December 2021.1 In addition to the drilling the Company completed down hole electromagnetic geophysical surveys on 4 of the holes as well as a fixed loop ground electromagnetic geophysical survey at the TBW target. The laboratory analysing the samples submitted from the Yarrambee RC drilling has indicated that the assay results are expected to be received by the Company in approximately 3 weeks. The data from downhole EM and fixed loop ground EM carried out after the drilling was completed has now also been received by the Company's consultant geophysicist. The RC drill programme was the commencement of the systematic testing of base metal Cu, Ni, Zn, Pb targets at Yarrambee identified in a geophysical helicopter airborne electromagnetic survey and follow-up moving loop electromagnetic survey carried in the December 2021 Quarter.2 The initial drilling was focused on 7 higher priority EM conductors identified in these surveys located within the Narndee cluster3. The RC holes were designed to test EM plates modelled from the MLEM data. The holes were sampled where there were anomalous base metal concentrations using the handheld XRF machine. The summary of the sample intervals, lithology ad description of sulphide types is summarised in Table 2 and locations shown on Figure 3. Ground conditions were difficult and 4 of the 7 holes collapsed before casing for DHEM could be installed resulting in only 3 holes surveyed. DHEM provides a more accurate assessment whether the target conductor was intersected, the nature of the conductor and whether there are areas off hole that require further drilling. An assessment whether further drilling is required to collect DHEM in some of these areas will be made once the results are received. In addition to the DHEM a small ground FLEM survey was completed at the TBW target and is now recommended by the Company's geophysical consultant that the ground MLEM be extended south of this prospect where it is thought that there are possible additional conductors. The poor ground conditions affected the drilling at the Tank target where it is not clear whether the target was intersected in the deeper YERC002 drill hole. Additionally, hole YERC007 does not appear to have reached a second deeper EM plate model. The Company's Yarrambee Project covers prospective portions of the Narndee Igneous Complex approximately 500 km north-east of Perth, within the Murchison Region of Western Australia . Golden Mile's Yarrambee Project is adjacent to tenements held by Aldoro Resources Ltd. and comprises more than 800 km2 of tenements covering the NIC. The Company considers the project prospective for Ni-Cu-PGE mineralisation e.g., Voisey's Bay, Nova, Julimar, and Volcanogenic Massive Sulphide Cu-Zn mineralisation e.g., Golden Gove, DeGrussa. Announcement • Nov 27
Golden Mile Resources Ltd Announces RC Drilling to Commence at G88's Yarrambee Cu-Zn-Ni Project Golden Mile Resources Ltd. advised that preparations for the upcoming reverse circulation (RC) drill program are well advanced with an RC rig now mobilising to site with drilling expected to get underway over the weekend. The Company's Yarrambee Project covers prospective portions of the Narndee Igneous Complex (NIC) approximately 500km north-east of Perth, within the Murchison Region of Western Australia. Golden Mile's Yarrambee Project comprises more than 800km2 of tenements covering the NIC, considered prospective for Ni-Cu-PGE mineralisation (e.g. Voisey's Bay, Nova, Julimar), and Volcanogenic Massive Sulfide (VMS) Cu-Zn mineralisation (e.g. Golden Gove, DeGrussa). A helicopter-borne EM (HEM) survey undertaken by the Company in July identified 48 individual conductors interpreted to be related to bedrock features. A subsequent ground-based moving loop EM (MLEM) survey focussed on a cluster of anomalies adjacent to the Narndee VMS (Cu-Zn) prospect. This anomaly cluster is associated with widespread surficial copper-zinc anomalism, gossanous outcrops, mineralised structures, exhalative rocks (BIFs and cherts) and felsic volcanism. During the MLEM survey a high conductance anomaly (`Tank') was identified in the northwest of the survey area. The Tank target was only seen as a weakly anomalous feature in the airborne survey, which the Company's geophysicist considers may be related to the high conductance of the anomaly as well as the depth to the top of the conductor, which at ~150m is at the limit of the airborne system's resolution. The Tank anomaly is considered a high priority target for follow up given its strength and areal extent, and modelling of the remainder of the MLEM anomalies has now been completed to site collars for the upcoming drill program. Announcement • Sep 09
Golden Mile Resources Limited announced that it expects to receive AUD 1.6 million in funding Golden Mile Resources Limited announced a private placement of 32,000,000 common shares at an issue price of AUD 0.05 per share for gross proceeds of AUD 1,600,000 on September 9, 2021. The company will also issue 8,000,000 options exercisable at AUD 0.10 per share expiring on September 23, 2023. The transaction will include participation from existing shareholder , Francesco Cannavo, a non-executive director of the company for an investment of AUD 100,000 of shares, subject to shareholder approval. The transaction is expected to close on September 15, 2021. Announcement • Jun 16
Golden Mile Resources Limited to Commence Airborne EM Survey at Yarrambee Project Golden Mile Resources Limited announced the upcoming mobilisation of geophysical contractors to undertake the planned helicopter borne electromagnetic (HEM) survey on the Company's Yarrambee Project, which covers prospective portions of the Narndee Igneous Complex (NIC) approximately 500km north-east of Perth, within the Murchison Region of Western Australia. Highlights of the Yarrambee Project: Golden Mile is the largest landholder across the NIC with more than 800km2 under tenure. The Company is targeting `feeder-systems' associated with mafic-ultramafic intrusions, which are considered prospective for nickel-copper-platinum group element (NiCu-PGE) mineralisation similar to others in Western Australia including Nova- Bollinger in the Fraser Range and Julimar in the Darling Ranges. Yarrambee also covers portions of the surrounding Yaloginda Formation, prospective for volcanogenic massive sulfide (VMS) copper-zinc (Cu-Zn) mineralisation, including two high quality, advanced prospects identified at Narndee and Yalanga Bore. Golden Mile has engaged geophysical contractor NRG Australia to fly an approximately 1,400 line-kilometre HEM survey over prospective parts of the NIC utilising the latest generation proprietary ExciteTM system. The aim of the survey will be to identify conductors prospective for Ni-Cu-PGE and Cu-Zn sulfide mineralisation, as demonstrated at Aldoro Resources Ltd.'s neighbouring Narndee Project. The layered igneous complexes of the Murchison Domain have been the focus of several periods of Ni-CuPGE exploration since the mid1980s, with an emphasis on the discovery of stratiform Ni-CuPGE (Cr) reefs within the layered igneous stratigraphy of the Narndee and Windimurra Complexes. The deposit model the Company is targeting at Yarrambee are analogous to these recent discoveries and focused on potential "feeder systems" within the NIC (the `chonolith model') with historical surface sampling, mapping, and drilling identifying several priority target areas associated with mafic-ultramafic intrusions to be investigated within the tenement package. Favourable factors supporting the prospectivity of the Yarrambee Project for NiCu-PGE mineralisation include the presence of: Deep mantle tapping structures associated with large layered mafic-ultramafic intrusions and potential feeder dykes; Sheets of `primitive' olivine-rich rocks located at structural intersections; Thin transported cover masking up to 80% of the geology; Limited historical drilling; and Ineffective historical electromagnetic surveying. Yarrambee also contains portions of the surrounding Yaloginda Formation, a geological package considered prospective for volcanogenic massive sulfide (VMS) base metals mineralisation. These include two high quality, advanced Cu-Zn VMS style prospects identified at Narndee and Yalanga Bore. Announcement • Jun 03
Golden Mile Resources Ltd Announces Completion of Golden Mile's Leonora Project Golden Mile Resources Ltd. announced the completion of a 1,345m aircore drilling program at Ironstone Well and Benalla on the Company's Leonora Gold Project located 230km north of Kalgoorlie, within the Eastern Goldfields of Western Australia The Ironstone Well project, seven kilometres northeast of Leonora, covers several well- mineralised structures including the Pink Pig Shear Zone, plus numerous underexplored alluvial gold prospects. The recently completed 11-hole (635m) aircore drill program at Ironstone Well tested geochemical anomalies associated with surface workings coincident with regionally significant, gold-bearing shear zones. This program was the first by the Company at Ironstone Well since 2018 when drilling on the Natasha Prospect included IRC002: 7m @ 4.16 g/t Au from 17m incl. 2m @ 11.35 g/t Au Following on from the program at Ironstone Well the rig moved to Golden Mile's Benalla Project where the Company has identified several wide zones of high-grade gold mineralisation including BTAC187: 28m @ 1.79g/t Au from 51m in incl. 14m @ 3.07g/t Au The latest program at Benalla tested targets at Wanghi, Benalla Hill, BGT2, BGT3 and Websters intersecting a variety of mafic volcanics (metabasalts), felsic volcaniclastics and metasediments typical of the mineralised stratigraphy in the region. Samples from both Ironstone Well and Benalla will be at the laboratory in Perth later this week with assay results expected by early July. Announcement • May 28
Golden Mile Resources Limited Announces Drilling Underway At Ironstone Well and Benalla Golden Mile Resources Ltd. provided an update on drilling currently underway at Ironstone Well and additional drilling soon to commence at Benalla, both within the Company's Leonora Gold Project, located 230km north of Kalgoorlie, within the Eastern Goldfields of Western Australia. An 1,500m aircore (AC) drill program is progressing at Ironstone Well to test geochemical anomalies associated with surface workings coincident with regionally significant, gold-bearing shear zones. The Ironstone Well project, seven kilometres northeast of Leonora, covers several well-mineralised structures including the Pink Pig Shear Zone, plus numerous underexplored alluvial gold prospects. Gold was first discovered at Ironstone Well in 1899 and mine production was generally of a small scale but high-grade including the "Pride of Leonora" where historical production of 38 kg of gold was recorded from 1,540t @ 24.6 g/t Au. The current program is the first by the Company at Ironstone Well since 2018 when drilling on the Natasha Prospect included: IRC002: 7m @ 4.16 g/t Au from 17m incl. 2m @ 11.35 g/t Au. The current program is focused on the 3.2km long Pink Pig Shear Zone with extensive surface gold anomalism and limited historical drilling. A further program targeting the NW structural zone associated with the Natasha and Pride of Leonora prospects is planned in the coming months following grant of the Company's Program of Works (POW) application. Once drilling is completed at Ironstone Well, the rig will shift to the Company's Benalla Project to further test targets defined by the Company's geochemical sampling and recently completed drilling. This includes the Wanghi Prospect where previous drilling by the Company identified a wide zone of high-grade gold mineralisation including: BTAC187: 28m @ 1.79g/t Au from 51m in incl. 14m @ 3.07g/t Au. The program will be completed in the coming weeks with assay results expected late June early July. Golden Mile has also received confirmation from its geophysical contractors that the Yarrambee airborne electromagnetic (EM) survey is now scheduled to commence in the middle of June. The slight delay to the start date was caused by wet weather on the
contractor's previous job. Commenting on the drilling program, Golden Mile's Managing Director James Merrillees said the Company was pleased to have obtained a drill rig to test Ironstone Well and the newly defined Wanghi prospect at Benalla. Announcement • May 16
Golden Mile Resources Limited Announces Benalla Drill Results Golden Mile Resources Ltd. announced the results from RC drilling at the Wanghi Prospect, along with further results from regional aircore drilling across the Benalla area, part of the Company's Leonora Gold Project, located 230km north of Kalgoorlie, Western Australia. An 11-hole (1,205m) reverse circulation (RC) drilling program targeted the Wanghi Prospect, where previously reported drilling by the Company outlined a wide zone of high-grade gold mineralization including: 28m @ 1.79g/t Au from 51m in BTAC187 including 14m @ 3.07g/t Au from 63m The RC program successfully intersected the targeted lithologies however mineralization encountered was discontinuous with the best interval in hole BTRC008 intersecting: 6m @ 1.73g/t Au from 87m including 3m @ 3.30 g/t Au from 90m The intersection in BTRC008 is ~50m south of the main mineralized trend at Wanghi and supports the Company's interpretation of the prospectivity of the Spectrum Fault - considered to be a key structure controlling gold mineralization in the area which has been lightly tested by drilling to date. The RC holes are currently being surveyed with an optical televiewer to provide structural data to assist further targeting at Wanghi. The Company has also received most of the remaining gold assays from the last round of aircore (AC) drilling at Benalla with results from 12 holes still outstanding. These new results included several areas of coherent gold anomalism including the area south of Wanghi along the Spectrum Fault, the Benalla Hill area southeast of Wanghi and extensions to the north and south of the original BGT3 target. Golden Mile's Benalla Project covers more than 7km strike length of high priority gold-in- auger anomalies immediately along strike from KIN Mining's 1.15Moz Cardinia Gold Project. This style and setting of mineralization is considered analogous to Kin Mining's neighbouring Cardinia area. First pass aircore (AC) drilling in 2020 of gold-in-auger geochemistry anomalies (BGT1-4) intersected widespread gold mineralization associated with sheared and weathered felsic volcanic and volcaniclastic lithologies with widespread sulfides (pyrite) and quartz veining common. Significant intercepts included (refer G88 ASX announcement 12 January 2021)1: BTAC082 4m @ 3.86 g/t Au from 28m incl.1m @ 10.6g/t Au and 16m @ 1.05 g/t Au incl. 4m @ 2.93 g/t Au from 52m BTAC120 16m @ 0.81 g/t Au from 16m incl. 4m @ 1.56g/t Au from 20m Follow up AC drilling highlighted a wide zone of gold mineralization at the Wanghi Prospect, including: BTAC187 28m @ 1.79g/t Au from 51m including 14m @ 3.07g/t Au from 63m BTAC188 3m @ 2.74g/t Au from 15m BTAC189 4m @ 0.51g/t Au from 36m The wide gold intersections at Wanghi are associated with a structural zone associated with the Spectrum Fault, considered to control the distribution of gold in the area, which the Company targeted with an 11-hole (1,205m) reverse circulation (RC) drilling program. The Company's Wanghi RC program intersected the target lithologies where modelled however mineralization associated with the gold zones intersected in holes BTAC082 and BTAC187 appears discontinuous with the best results from hole BTRC008 which was drilled ~50m to the southwest of BTAC187 with: 6m @ 1.73g/t Au from 87m including 3m @ 3.30 g/t Au from 90m The intersection in BTRC008 is open to the south where there is limited surface sampling and no drilling down to a line of aircore holes approximately 800m to the south of BTRC008 which included intersections at BTAC216 and 219 with: BTAC216 4m @ 0.13g/t Au BTAC219 8m @ 0.23g/t Au The zone of mineralization extending more than 1km south of Wanghi coincides with the Spectrum Fault and is considered high priority for follow up testing with surface sampling and further drilling. In addition to the aircore over the southern Wanghi extensions, the Company has also received most of the assays from the program completed in early April with several holes still pending due to backlogs at the analytical laboratory. The new AC results highlight three prospects (including the Wanghi extensions) which have been prioritized for follow up. These targets include extensions to BGT3 where gold mineralization is associated with a distinct NW trending, complex structural setting with three adjacent holes intersecting mineralization over a 300m wide zone including: BTAC263 2m @ 1.34g/t Au BTAC264 3m @ 1.02g/t Au. The RC holes are currently being surveyed with an optical televiewer to provide structural data to assist further targeting at Wanghi. The Company is also awaiting analytical results from the final 12 holes of the AC program as well as multi-element analyses which will be incorporated into an updated targeting framework for the planned follow up programs. Announcement • May 08
Golden Mile Resources Limited (ASX:G88) completed the acquisition of Narndee Igneous Complex (NIC), the Yarrambee Project in the Murchison Region from Nemex Pty Ltd. and Bruce Legendre. Golden Mile Resources Limited (ASX:G88) entered into a binding Sale and Purchase Agreement to acquire Narndee Igneous Complex (NIC), the Yarrambee Project in the Murchison Region from Nemex Pty Ltd. and Bruce Legendre on March 11, 2021. Under the transaction, Golden Mile Resources will pay a cash consideration of AUD 0.06 million, will issue 1,000,000 Golden Mile shares to the vendors, issuing of 1,000,000 Options with an exercise price of AUD 0.10 expiring two years from the date of issue to the vendors and granting the vendors a 1.0% Net Smelter Royalty over the project. In a related transaction, Golden Mile Resources Limited has received commitments to raise AUD 0.8 million via issue of 16,000,000 shares and 8,000,000 free attaching options. The placement will be conducted under 1 tranche and is priced at AUD 0.05 per share. Completion of transaction is expected to occur within 35 days or such other date as agreed between the parties.
Golden Mile Resources Limited (ASX:G88) completed the acquisition of Narndee Igneous Complex (NIC), the Yarrambee Project in the Murchison Region from Nemex Pty Ltd. and Bruce Legendre on May 7, 2021. Announcement • Mar 12
Golden Mile Resources Limited (ASX:G88) entered into a binding Sale and Purchase Agreement to acquire Narndee Igneous Complex (NIC), the Yarrambee Project in the Murchison Region from Nemex Pty Ltd. and Bruce Legendre. Golden Mile Resources Limited (ASX:G88) entered into a binding Sale and Purchase Agreement to acquire Narndee Igneous Complex (NIC), the Yarrambee Project in the Murchison Region from Nemex Pty Ltd. and Bruce Legendre on March 11, 2021. Under the transaction, Golden Mile Resources will pay a cash consideration of AUD 0.06 million, will issue 1,000,000 Golden Mile shares to the vendors, issuing of 1,000,000 Options with an exercise price of AUD 0.10 expiring two years from the date of issue to the vendors and granting the vendors a 1.0% Net Smelter Royalty over the project. In a related transaction, Golden Mile Resources Limited has received commitments to raise AUD 0.8 million via issue of 16,000,000 shares and 8,000,000 free attaching options. The placement will be conducted under 1 tranche and is priced at AUD 0.05 per share. Completion of transaction is expected to occur within 35 days or such other date as agreed between the parties. Announcement • Mar 04
Golden Mile Resources Limited Provides Update on Further Drilling Underway at Benalla Part of the It's Leonora Gold Project Golden Mile Resources Limited provided an update on further drilling underway at Benalla part of the Company's Leonora Gold Project located approximately 230km north of Kalgoorlie, Western Australia. The program will also test new targets generated from a review of multi-element geochemistry and high-resolution geophysics which defined a much larger mineralised system than initially interpreted by the Company at Benalla. The program of approximately 3,000m of AC drilling is expected to take 2-3 weeks to complete with first results anticipated in March. A reverse circulation (RC) drilling program will commence shortly after the completion of aircore drilling to test several of the targets at depth including any defined by the current AC program. Commenting on the program Golden Mile's Managing Director James Merrillees said the Company was pleased to be drilling again at Benalla. Announcement • Feb 16
Golden Mile Resources Reports That Drilling Will Commence Next Week to Test High Impact Targets At Benalla Golden Mile Resources reported that drilling will commence next week to test high impact targets at Benalla, within the company's Leonora Gold Project. The Leonora Project comprises a regionally significant tenement package with three project areas, Ironstone Well, Monarch and Benalla, located east of the Leonora mining centre, and about two hours north of Kalgoorlie, in the prolific Eastern Goldfields of Western Australia. The company's projects are along strike from and surrounded by significant gold production, development and exploration projects including St Barbara's Gwalia Project and Kin Mining's Cardinia Project. Golden Mile's focus at Leonora is currently on the Benalla Project and the follow up of multiple high priority targets with a similar geochemical signature and structural setting to KIN's adjacent Cardinia Project. The initial aircore program will focus on extending the mineralised zones tested in late 2020 as well as the testing of new targets defined by multi-element soils and supported by results from recently completed re-analysis of drill pulps from the 2020 aircore drilling programs. Laboratory `pulps' (the residue from previous gold analysis) from end of hole samples, as well as significant (>0.1g/t Au) gold intervals, have been analysed for a suite of pathfinder and major elements to assist in the Company's targeting at Benalla. Review of these data demonstrates gold mineralisation is associated with broad intervals of arsenic (As) anomalism, as well as `pathfinder' elements including silver (Ag) - bismuth (Bi) - copper (Cu) - tellurium (Te) - tungsten (W) and zinc (Zn). This element association, also typical of those reported by KIN at Cardinia, define a much broader pattern than gold alone and support the Company's interpretation of a widespread mineralised system at Benalla. Examples of the arsenic association from the Company's drilling include a 4m interval of 3,130ppm As in hole BTAC082, coincident with the highest-grade interval in that hole of 4m @ 2.93 g/t Au from 52m. This interval is within a broader zone of >1,000ppm As associated with the gold mineralized interval. Recognising this pathfinder element association in the drilling, upgrades the prospectivity of the extensive multi-element anomalies defined from the Company's 2020 soil survey which coincide with and surround the gold anomalies initially tested at targets BGT1-4. The highest priority of these targets is the mineralised trend extending between and beyond targets BGT1 and BGT3 which covers a strike length of more than 4.5km. The target area for BGT2 and BGT4 has likewise been significantly extended to the northwest and now covers more than 1km of strike which will be tested in the upcoming program. Also of note in the Company's review of the geochemical patterns at Benalla is the lack of a gold anomaly from surface sampling over the known historical prospects at Websters, Welcome Well and Whanghi which is interpreted to reflect a subdued mobility of gold related to the regolith at these prospects. These three prospects however have distinct and broad pathfinder anomalies and, combined with their favourable structural setting and lack of modern exploration are considered high priority areas to be tested in the upcoming program. The program of ~3-5,000m of aircore drilling is programmed to commence next week with first results anticipated in late March. A systematic RC drilling program will commence shortly after the aircore program to test several of the identified mineralised structures to determine the full extent and gold grade of these structures as well as test for mineralisation underneath the shallow aircore holes drilled to date. Announcement • Jan 12
Golden Mile Resources Limited Announces Wide, High-Grade Gold At Golden Mile's Benalla Discovery Golden Mile Resources reported the results from a 5,614 metre aircore drilling program recently completed at Benalla and Darlot. Drilling tested BGT1 and BGT3, two priority geochemical and geophysical targets on the Benalla Gold Trend (BGT) in the Company's Leonora Gold Project, and strong gold-in-soils and rock chip results at the Central Target on the Darlot Project. Golden Mile's Leonora Gold Project comprises a regionally significant tenement package focussed on the Ironstone Well, Monarch and Benalla Gold Projects located east of the Leonora mining centre in the prolific Eastern Goldfields of Western Australia. The Company's projects are along strike from and surrounded by significant gold production, development and exploration projects including St Barbara's Gwalia Project and Kin Mining's Cardinia Project. The Company's recent focus at Leonora has been the follow up of targets defined from the Company's auger sampling and airborne geophysical programs at Benalla. Benalla contains more than 7km strike length of high priority gold-in-auger anomalies immediately along strike from KIN Mining's 1.15Moz Cardinia Gold Project. In mid-2020 the Company completed a first phase aircore drilling program at Benalla testing targets BGT2 and BGT4 with gold-in-soil results of up to 371ppb and 374ppb Au respectively. This first phase program encountered multiple intersections of gold mineralisation across two mineralised structures including: BTAC026 12m at 1.03g/t Au from 40m incl. 4m at 2.52g/t Au and BTAC027 8m at 1.28g/t Au from 28m incl. 4m at 2.44g/t Au. These targets lie along strike to the southeast of Kin Mining's emerging East Lynne gold trend with BGT2 showing a very similar magnetic anomaly to Kin Mining's Cardinia Hill prospect, and both targets appearing to lie on a northwest trending structure towards the Cardinia area. A second phase 4,303m aircore drilling program at Benalla targeted BGT1 and BGT3 on 100m x 25m spacings. BGT1 is the largest gold anomaly identified by the Company's 2020 auger sampling, with results up to 387ppb Au along a 1km strike length. In common with BGT2 and BGT4 both targets lie on regional structures extending into Kin Mining's Cardinia Gold Project, and the Company's drilling encountered similar geology to mineralised assemblages reported by KIN, including felsic and intermediate to mafic volcanic units and metasedimentary sequences. The program intersected further multiple broad, shallow intersections of gold including BTAC082 4m @ 3.15 g/t Au from 12m and 16m @ 1.05 g/t Au including, 4m @ 2.93 g/t Au from 52m. BTAC120 16m @ 0.81 g/t Au from 16m including 4m @ 1.56g/t Au from 20m. Drilling again intersected mineralisation in a broad northwest-southeast orientation with mineralisation associated with quartz veining and disseminated pyrite and potassic alteration associated with a felsic volcanic unit, near the contact with a surrounding andesite. Notably several of the lines of aircore did not close off mineralisation either along line or at depth, including the highest-grade intersections at BTAC082 with work ongoing to understand anystructural and/or lithological relationships to focus follow up drilling. Further AC drilling is planned to extend lines where mineralisation is open (e.g. BTAC082) as well as remaining untested targets including several high priority multi element anomalies with geochemical associations analogous to Cardinia. A systematic RC drilling program is also planned to test several of the identified mineralised structures to determine the full extent and gold grade of these structures as well as test for mineralisation underneath the shallow aircore holes drilled to date. The Darlot Gold Project is located approximately 110km north of Leonora immediately adjacent to the Darlot Gold Mine, owned and operated by RED5 Limited. The Project is interpreted to contain strike extensions of several key structures that control gold mineralisation in the Darlot goldfield. However, despite being adjacent to a major gold mine, the tenement has seen limited modern exploration with some gold anomalism detected that has never been systematically followed-up. The Company has identified several target areas spatially associated with the southeast strike extensions of key structures in the Darlot goldfield and proximal to known gold occurrences: Northern Target: On the Taranaki Fault Zone (TFZ) adjacent to the historical Rosewood Bore and Gipps Hill gold mines; Central Target: South of the TFZ and the Janine gold occurrence where RED5 have reported recent grab samples containing up to 21.9 g/t Au and Southern Target: Located along the SE extension of the El Dorado Fault,) and proximal to the Amazon and Ballangarry mines. In late 2020 the Company drilled a 37-hole, 1,311m aircore program at Darlot targeting magnetic and gold-in-soils anomalies on the Central Target Area. These soil anomalies are associated with historic workings close to a granite-mafic contact. The relatively shallow holes were drilled to blade refusal in an area of little to no cover. The anticipated geology of mafic basalt and granite lithologies was encountered along all drill lines, with several narrow, zones of gold mineralisation intersected including DAC003 4m @ 0.18 g/t Au from 12m and 8m @ 0.59 g/t Au from 16m, DAC015 3m @ 0.17 g/t Au from 28m and DAC020 4m @ 0.24 g/t Au from 28m. The intersections in hole DAC003 and DAC015, along with lower grade intercepts in surrounding holes, describe a NW trend which parallels the regionally important structural fabric (e.g. TFZ) with holes DAC015 and DAC020 ending in mineralisation within a `cloud' of lower grade gold anomalism. Further drilling is now warranted to test these structural zones and for higher-grade depth extensions of the mineralisation intersected to date. The Company is also assessing options to test the Northern and Southern targets at Darlot and will update the market in due course on further work planned. Announcement • Nov 18
Golden Mile Resources Limited Appoints James Merrillees as Managing Director, Effective 25 November 2020 Golden Mile Resources Limited announced the appointment of James Merrillees as Managing Director. His most recent role as Managing Director of Cygnus Gold. Mr. Merrillees will commence as Managing Director from 25 November 2020. James brings to the Board a strong technical background and proven capital markets experience garnered from more than 20 years' in the minerals exploration industry globally, with his career covering all aspects of capital raising, project generation and evaluation in gold, base metals and bulk commodities with major and publicly listed junior companies. Announcement • Nov 13
Golden Mile Resources Limited, Annual General Meeting, Dec 15, 2020 Golden Mile Resources Limited, Annual General Meeting, Dec 15, 2020, at 12:00 E. Australia Standard Time. Agenda: To consider the Financial statements and reports; to consider the Adoption of Remuneration Report; to elect Mr. Caedmon Marriott as a Director; to re-elect Mr. Phillip Grundy as a Director; to Ratify the previous issue of 22,295,665 Shares; to Approve the issue of Options to Sanlam Private Wealth Pty Ltd; to Approve additional capacity to issue shares under ASX Listing Rule 7.1A. Announcement • Oct 16
Golden Mile Resources Limited Announces That the Broad, Shallow Gold Mineralisation Discovered At Benalla Golden Mile Resources announced the results of the first phase aircore ("AC") drilling program on the Benalla Gold Trend ("BGT") at its Leonora East Gold Project located in the North-Eastern Goldfields of WA. Highlights: Multiple broad and shallow intersections of gold mineralisation identified by recent AC drilling at Benalla; Results along two mineralised structures may represent continuations of Kin Mining's neighbouring East Lynne and Collymore Trends; Significant intersections include: BTAC026 12m at 1.03g/t Au from 40m including 4m at 2.52g/t Au, BTAC027 8m at 1.28g/t Au from 28m including 4m at 2.44g/t Au; Potential 7km combined strike of trends within tenement area; Drilling commencing next week to test undrilled target BGT1 - 1km long auger geochemical anomaly; Golden Mile Resources to present at Share Café hosted webinar - Micro/Small Cap "Hidden Gems" on 16 October. Assay results from the program have identified multiple intersections of gold mineralisation across two mineralised structures that could represent continuations of Kin Mining's neighbouring East Lynne and Collymore Trends. The gold mineralisation is generally hosted in a felsic volcanic unit with associated quartz veining, disseminated sulphides (mostly pyrite, up to 5%) and potassic alteration, on or near the contact with surrounding mafic volcanic units. This style and setting is similar to as noted in the neighbouring Cardinia area. A second phase of AC drilling at Benalla will commence next week, this will complete the remaining holes at target BGT3, as well as testing target BGT1, an undrilled 1km long auger geochemical anomaly of up to 387ppb Au, along with further follow up drilling at targets BGT2 and BGT4. The principal focus of the first phase of AC drilling was auger geochemical targets BGT2 and BGT4, identified by the Company's previous geochemical auger sampling, with gold-in-soil results of up to 371ppb and 374ppb Au respectively. A total of 60 AC holes were drilled along 7 drill fences across the two targets (with an additional 12 holes drilled to partially test target BGT3). Samples were collected as 4m composites and assayed for gold by 50g fire assay. Assay results from the program highlight a number of significant intersections of gold mineralisation that appear to define a mineralised trend over approximately 900m strike length. The mineralisation is associated with a felsic volcanic unit, within an assemblage of andesite and basalt, intermediate to mafic volcanics. Quartz veining, disseminated pyrite and potassic alteration was observed associated with the felsic volcanic unit, near the contact with the surrounding andesite. An increased depth of weathering was also encountered along the mineralised trend. Golden Mile notes these factors can be associated with mineralisation at Kin Mining's neighbouring Cardinia project. Target BGT2 returned the best intersections with holes BTAC026 and BTAC027 yielding 12m at 1.03g/t Au from 40m, including 4m at 2.52g/t Au from 40m, and 8m at 1.28g/t Au from 28m, including 4m at 2.44g/t Au from 28m, respectively (intersections are downhole, true width not known). Results from Golden Mile's recent airborne magnetic survey show a magnetic anomaly associated with the BGT2 target area. This magnetic feature appears somewhat similar to the magnetic anomaly seen associated with mineralisation at Kin Mining's Cardinia Hill prospect. A second phase of AC drilling is scheduled to commence next week after the completion of drilling at the Company's Darlot Project. This second phase will complete the remaining undrilled holes at the partially drilled target BGT3 and then test the completely undrilled target BGT1. Twelve holes were drilled along a line across BGT3 in the first phase, with hole BTAC070 intersecting 4m at 0.42g/t Au from 4m depth at the end of a line. Target BGT3 sits of a separate parallel trend to targets BGT2 and BGT4. The main focus of the second phase of drilling will be to test target BGT1, a geochemical auger anomaly of up to 387ppb Au, with a strike length of over 1km, which lies along trend from target BGT3. Immediate further work is the completion of the second phase of AC drilling after which a review of necessary next steps will be undertaken. The identified mineralised structures will likely be targeted with a systematic RC percussion drilling program to determine the full extent and gold grade of these structures. Golden Mile also notes the use of IP in defining similar sulphide hosted mineralisation at the neighbouring Cardinia Project. The Company looks forward to updating shareholders on the results of the second phase and further work in due course. Announcement • Sep 02
Golden Mile Resources Limited announced that it expects to receive AUD 1.114783 million in funding Golden Mile Resources Limited (ASX:G88) announced private placement of 22,295,665 shares at a price of AUD 0.05 per share for gross proceeds of AUD 1,114,783.25 on September 1, 2020. The transaction will include participation from new and existing professional and sophisticated investors. The transaction is expected to close on September 7, 2020. 