New Risk • Apr 15
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 Risks Shareholders have been substantially diluted in the past year (214% increase in shares outstanding). 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$17.5m market cap, or US$12.5m). Announcement • Apr 11
Great Eastern Gold Limited completed the acquisition of remaining 37% stake in Golden Ant Mining Pty Ltd from Great Northern Minerals Limited (ASX:GNM). Great Eastern Gold Limited entered into a binding agreement to acquire remaining 37% stake in Golden Ant Mining Pty Ltd from Great Northern Minerals Limited (ASX:GNM) for AUD 2 million on February 5, 2026. A cash consideration of AUD 2 million will be paid by Great Eastern Gold Limited. Upon completion, Great Eastern Gold Limited will own 100% stake in Golden Ant Mining Pty Ltd. As part of the Agreement, GNM has agreed to transfer tenements EPM28249 and EPM28301, which make up part of the NorthX joint venture, to the NorthX Pty Ltd. The proceeds from settlement will be used to continue planned exploration programs at Catalyst Ridge and Douglas Creek, as well as towards exploring other acquisitions or opportunities that will complement GNM’s existing portfolio.
The agreement is only conditional upon Great Northern Minerals and Great Eastern Gold obtaining all necessary third-party consents and approvals to implement the change in ownership.
Great Eastern Gold Limited completed the acquisition of remaining 37% stake in Golden Ant Mining Pty Ltd from Great Northern Minerals Limited (ASX:GNM) on April 10, 2026. GNM has received the AUD 1.9 million required for settlement of the remaining minority interest held in Golden Ant. New Risk • Mar 30
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$14.1m (US$9.66m) This is considered a major 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 Shareholders have been substantially diluted in the past year (214% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$14.1m market cap, or US$9.66m). New Risk • Nov 08
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 212% 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 (86% average weekly change). Shareholders have been substantially diluted in the past year (212% increase in shares outstanding). Revenue is less than US$1m. Minor Risks Significant insider selling over the past 3 months (AU$203k sold). Market cap is less than US$100m (AU$27.9m market cap, or US$18.2m). New Risk • Aug 30
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 28% 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 Risks Share price has been highly volatile over the past 3 months (46% average daily change). Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (28% increase in shares outstanding). Significant insider selling over the past 3 months (AU$203k sold). Market cap is less than US$100m (AU$15.5m market cap, or US$10.1m). Announcement • Aug 28
Great Northern Minerals Limited, Annual General Meeting, Oct 22, 2025 Great Northern Minerals Limited, Annual General Meeting, Oct 22, 2025. New Risk • Jan 15
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 17% 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 Less than 1 year of cash runway based on free cash flow trend (-AU$1.6m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Revenue is less than US$1m. Market cap is less than US$10m (AU$2.32m market cap, or US$1.44m). Announcement • Oct 01
Great Northern Minerals Limited, Annual General Meeting, Nov 20, 2024 Great Northern Minerals Limited, Annual General Meeting, Nov 20, 2024. New Risk • Sep 28
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$1.6m 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$1.6m free cash flow). Share price has been highly volatile over the past 3 months (18% average weekly change). Revenue is less than US$1m (AU$68k revenue, or US$47k). Market cap is less than US$10m (AU$2.32m market cap, or US$1.60m). New Risk • Sep 21
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 17% 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 (17% average weekly change). Revenue is less than US$1m (AU$49k revenue, or US$34k). Market cap is less than US$10m (AU$1.86m market cap, or US$1.26m). Minor Risk Large one-off items impacting financial results. New Risk • Apr 30
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 18% 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 (18% average weekly change). Revenue is less than US$1m (AU$49k revenue, or US$32k). Market cap is less than US$10m (AU$1.70m market cap, or US$1.11m). Minor Risks Large one-off items impacting financial results. Shareholders have been diluted in the past year (36% increase in shares outstanding). New Risk • Feb 28
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 13% 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 Risks Revenue is less than US$1m (AU$49k revenue, or US$32k). Market cap is less than US$10m (AU$2.47m market cap, or US$1.61m). Minor Risks Share price has been volatile over the past 3 months (13% average weekly change). Large one-off items impacting financial results. Shareholders have been diluted in the past year (36% increase in shares outstanding). Announcement • Jan 19
Great Northern Minerals Limited Announces Board Changes Great Northern Minerals Limited announced the resignation of Mr. Donald Garner as a Non-Executive Director of GNM and the appointment of Mr. Steven Formica, effective immediately. After previously acting as Board advisor, Mr. Garner was appointed as a Non-Executive Director on 1 November 2022. Mr. Formica brings extensive management and business development expertise, with over 35 years' experience in several privately held companies across various sectors. Mr. Formica is currently the Non-Executive Chairman of Albion Resources Limited, Non-Executive Chairman of Ragnar Metals Limited, Non-Executive Director of EchoIQ Limited, Bindi Metals Ltd. and a successful investor in a number of ASX listed entities. Announcement • Dec 08
Great Northern Minerals Limited Announces Resignation of Simon Coxhell as Non-Executive Director Great Northern Minerals Limited announced the resignation of Mr. Simon Coxhell as a Non-Executive Director of GNM effective 31 December 2023. Simon was appointed to the GNM Board as an Executive Technical Director in April 2020, and managed GNM's exploration program, including the definition of a 385,000 oz Au resource base at GNM's North Queensland gold assets. Simon transitioned to a Non-Executive Director of GNM in June 2022 and has decided to resign from his current position at GNM to focus on his other business interests, including his role as Managing Director of Blaze Minerals Limited. Announcement • Oct 02
Great Northern Minerals Limited, Annual General Meeting, Nov 21, 2023 Great Northern Minerals Limited, Annual General Meeting, Nov 21, 2023. Agenda: To consider the election of Directors. New Risk • Oct 02
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 147% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risks Revenue is less than US$1m (AU$49k revenue, or US$32k). Market cap is less than US$10m (AU$3.71m market cap, or US$2.39m). Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Large one-off items impacting financial results. Shareholders have been diluted in the past year (36% increase in shares outstanding). Announcement • May 22
Great Northern Minerals Limited (ASX:GNM) completed the acquisition of Stedle Exploration AB from Stevsand Investments Pty Ltd. Great Northern Minerals Limited (ASX:GNM) entered into an agreement to acquire Stedle Exploration AB from Stevsand Investments Pty Ltd for AUD 0.3 million on April 26, 2023. Under the terms of agreement, Great Northern Minerals agrees to pay cash consideration of AUD 25,000 and fully paid ordinary shares worth AUD 275,000 at a deemed issue price of AUD 0.0025 per share. The transaction is subject to completion of due diligence by Great Northern Minerals on Stedle, Great Northern Minerals exercising the Option, Great Northern Minerals obtaining shareholder approval, both obtaining all necessary regulatory and shareholder approvals, being no breach of the vendor warranties given by Stevsand and the agreement also contains further terms, conditions, warranties and representations considered standard for an agreement of this nature.Great Northern Minerals Limited (ASX:GNM) completed the acquisition of Stedle Exploration AB from Stevsand Investments Pty Ltd on May 22, 2023. Announcement • May 10
Great Northern Minerals Limited, Annual General Meeting, Jun 13, 2023 Great Northern Minerals Limited, Annual General Meeting, Jun 13, 2023, at 11:00 W. Australia Standard Time. Location: Mining Corporate Boardroom, Level 8 216 St Georges Terrace, Perth WA 6000 Perth Western Australia Australia Agenda: to consider re-election of Director Mr Donald Garner; to consider ratification of Prior issue of Consideration Shares; to consider ratification of Prior Issue of Tranche 1 Placement Shares; to consider approval of Share Issue Tranche 2 Placement Shares; to consider approval to issue Placement Options; to consider consolidation of Capital; to consider approval to issue Lead Manager Options; to consider approval to Issue Director Options to Directors Ariel King, Cameron McLean, Simon Coxhell and Donald Garner; to consider approval to issue incentive securities to Aida Tabakovic. Announcement • Feb 02
Great Northern Minerals Limited Announces the Initial RC Drilling Program At Douglas Creek Great Northern Minerals Limited announced that the initial RC drilling program at Douglas Creek has been successfully completed. The twenty hole RC program tested three zones of mineralisation (Zones 1, 2 and 4) and intersected a mineralised low angle structure with widespread disseminated sulphide mineralisation. GNM has also reprocessed historical airborne magnetic data for the Douglas Creek target, and this has highlighted multiple targets, including the presence of a donut style magnetic anomaly (indicative of a porphyry system). GNM has commenced planning on a follow induced polarisation (IP) survey targeting the reprocessed magnetic anomalies, plus the potential depth extensions of the mineralisation intercepted in the recent drilling program. A reverse circulation (RC) percussion drill program was designed to test and define the subsurface nature of the mineralisation at Douglas Creek and the orientation of any containing structure. Three of the anomalous soil and rock targets that produced some of the higher polymetallic geochemistry, namely; Zones 1, 2 and 4, were selected for drill testing. RC percussion drillholes DCRC01-03 were drilled to test Zone 4. These holes intersected a shallow north westerly dipping oxidised horizon from 5 metres containing an increased weight volume % of visiblequartz vein fragments in a pervasive mixed (gossanous) limonite hematite goethite stained and variably sericite + silica altered intrusive host rock mass. A further eleven RC percussion holes were drilled on five cross sections along the Zone 1 target. As per Zone 4, a shallow to moderately south easterly dipping mineralised horizon was intersected of approximate 3 to 5 metres thickness. The down dip drilling intersections displayed an association of increased weight volume % of visible quartz ± epidote ± chlorite veining and accessory pyrite ± chalcopyrite ± arsenopyrite with variable intensity silica + chlorite ± epidote wall rock alteration development within the medium grained equigranular diorite host rock. Six RC percussion holes were drilled on four cross sections over the Zone2 target. As per Zone 1, a shallow south easterly dipping mineralised horizon was intersected of variable 3 to 10 metre thickness. The mineralised horizon was intersected from surface and thus strongly oxidised. A medium-coarsegrained equigranular granodioritic host was intersected with an observable strong pervasive fine white mica (sericite) alteration of feldspar + biotite phenocrysts and groundmass through which a crystalline euhedral quartz ± gossan vein stockwork had variably developed. The drilling intersected a mineralised low angle structure (LAS) with widespread disseminated sulphide mineralisation, with up to 5% visible pyrite and 1% chalcopyrite. The LAS is hosted within medium grained equigranular diorite-tonalite and medium-coarse grained granodioritic intrusions that demonstrates zoned alteration (from potassic to propylitic then phyllic), with a zonation towards phyllic predominant alteration trending north. Material assay results for the Douglas Creek RC drilling program are contained in Table 1. The results returned a variable composite of anomalous Au + Ag + As + Bi + Cu + Pb + Zn ± Wmineralisation associated with mixed sulphides intersected within the LAS. Surface manifestations of this sulphidic LAS had previously returned high grade gold, silver and copper rock chip samples from quartz rich gossanous intrusive outcrop located within the respective soil target anomalies drill tested. The other five soil anomaly target zones that remain untested by drilling, contain similar textural, compositional and geochemical attributes in surface outcrop to target zones 1, 2 and 4. Southern Geoscience Consultants were contracted to re-process open file geophysical data from a 1993airborne magnetics and radiometrics program completed by Kevron Geophysics over the Camel Creek tenements held by Golden Ant Mining (GAM). The reprocessing was completed and the final report was delivered in late December 2022. A review of the reprocessed geophysical data has highlighted the following targets: Southern magnetic anomaly: Central magnetic low `eye' characterised by a core of quartz + feldspar adamellite containing no magnetite-pyrrhotite-pyrite, surrounded by a magnetic high `donut' characterised by porphyritic quartz + feldspar + biotite + magnetite + pyrite bearing granodiorite-diorite. This pattern could represent a less oxidised porphyry system with a central magnetic low surrounded by an annular magnetic high. Soil Pb anomaly target 6 is located within the magnetic eye low. Central magnetic anomaly centred on soil anomaly targets 1, 2, 3, 4 and 5: A broad NNE trending magnetic low signature of dimension 1.5km x 0.5km developed within a surface expression of equigranular quartz + biotite + hornblende + magnetite diorite (reversed polarity?). Potentially an underlying source porphyritic granodiorite system. Contains soil targets 4, 5 and 1. Peripheral to this magnetic low `core' are linear eastern and western magnetic high signatures which are coincident with soil targets 2, 7 and 1. Soil Target 2 is developed over quartz veined, phyllically altered medium- coarse grained granodiorite country rock. Recently defined soil target 8 located near northern margin of central airborne mag low in contact with a significant magnetic high signature: This soil anomaly target is similarly hosted by equigranular quartz + biotite + hornblende + magnetite diorite. Half of this soil anomaly has a reversely polarised magnetic low - high signature. Northern magnetic low anomaly: GNM exploration personnel briefly visited this anomaly area in Nov. 2022 and collected three rock samples, two of which were of crystalline quartz veining, one of which returned highly anomalous molybdenum assays. This magnetic signature comprises a 1km x 0.7km low containing a 0.3km x 0.1km central lower intensity high `eye'. Board Change • Nov 16
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. No independent directors (5 non-independent directors). CEO, MD & Director Cameron McLean is the most experienced director on the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Announcement • Nov 08
Great Northern Minerals Limited Commences Drill Program At Douglas Creek Great Northern Minerals Limited announced that the drill program at Douglas Creek has commenced. GNM's Douglas Creek IRGS discovery is located on EPM 27522, part of GNM's Golden Ant Project in North Queensland. To date, GNM has defined multiple zones of outcropping IRGS mineralisation at Douglas Creek (over 125ha), with rock chips of up to 13.9 g/t Au, 598 g/t Ag, 11.0% Cu, 4.7% Pb & 1.8% Bi, plus extensive associated geochemical soil anomalies. Highlights: Initial RC drill program of approx. 1,100m planned to test Target Areas One, Two & Four has commenced at GNM's exciting Douglas Creek target in Queensland; To date, exploration has defined an Intrusion Related Gold System (IRGS) over 125ha with rock chips of up to 13.9 g/t Au, 598 g/t Ag, 11.0% Cu, 4.7% Pb & 1.8% Bi; The work is expected to take approximately 2 weeks to complete with assay results anticipated four to six weeks after end of program. Announcement • Nov 03
Great Northern Minerals Limited Appoints Donald Garner as Non-Executive Director Great Northern Minerals Limited announced the appointment of Mr. Donald Garner as a Non-Executive Director effective from 1 November 2022. Mr. Garner joins the GNM Board as Non-Executive Director after previously being appointed as a Board Advisor (announced on 22 March 2022). Mr. Garner is a geologist with over 25 years' experience in the resources industry. He is currently an Executive Director of Iltani Resources, a private Australian based company targeting future facing base metal exploration (including metals such as copper, zinc and tin) and development opportunities. Previously, Mr. Garner was Managing Director, and then subsequently Executive Director, of Red River Resources (ASX: RVR) between 20142021. As part of his role as an Executive Director, Mr. Garner was responsible for developing strategy and engaging in business development. Whilst he was a Director of RVR, Mr. Garner delivered exceptional value for shareholders, transforming the company from an ASX listed shell into a resource company with a portfolio of operating and development assets and a peak market capitalisation of AUD 200 million. Prior to RVR, Mr. Garner held senior executive roles in the resources sector and metals and mining corporate finance. Mr. Garner has also worked as an exploration and mining geologist in Western Australia, Russia and Myanmar. Announcement • Oct 28
Great Northern Minerals Limited Announces Drilling at Golden Cup Intersects High Grade Gold Up to 14.3g/t Au Great Northern Minerals Limited announced that assays have been received for the recently completed reverse circulation (RC) drilling program at Golden Cup. High grade gold mineralisation was intercepted in a number of drill holes, notably: GCRC093 (7.0m at 4.6 g/t Au from 61m down-hole inc. 2.0m at 14.3 g/t from 61m down-hole), GCRC094 (6.0m at 7.4 g/t Au from 67m down-hole inc. 3.0m at 11.3 g/t Au from 68m down-hole), and GCRC084 (10.0m at 2.1 g/t Au from 45m down-hole inc. 2.0m at 5.4 g/t Au 48m down-hole). Golden Cup remains open at depth and GNM are evaluating the results from the latest round of drilling to seek to further extend the high-grade gold mineralisation at depth. Multiple holes intersected mineralisation, with a highlight being the gold mineralisation intersected in GCR093 and GCR094, with broad mineralised zones containing higher grade gold mineralisation. The results from the Golden Cup RC drilling program will be used to review the potential to increase the Golden Cup Mineral Resource and plan a follow up drilling program to take place in 2023. The intersections returned have confirmed the steep south plunging gold shoots, as indicated from the previous drilling and mining history. These are obvious areas to focus future drilling programs on and is consistent with a similar orientation to the high grade shoots observed at Camel Creek. The Golden Cup deposit is located on ML 4536 and is part of GNM's Golden Ant Project in North Queensland. Nine open pits were mined over 1,500m of strike length for 0.2Mt tonnes of ore produced at an average grade of 2.8 g/t Au, with production finishing in 1993. The average pit depth was less than 15m, targeting the oxide mineralisation. Golden Cup has a current JORC compliant Inferred Mineral Resource of 256,000 tonnes at 3.6 g/t Au (30,000 ounces contained Au). Announcement • Oct 27
Great Northern Minerals Limited Announces Douglas Creek Drilling Update Great Northern Minerals Limited updated the market on progress at the exciting Douglas Creek IRGS (`Intrusion-Related Gold System') discovery, located on EPM 27522, part of GNM's Golden Ant Project in North Queensland. Recent exploration activity has focused on Target Area 4, which is approximately 300m long (NE-SW) and 100-150m wide (SE-NW). Systematic rock sampling was undertaken on mineralised outcrop and sub crop occurring within this target area. Assay results have been received from 16 rock chip samples taken from Target Area 4, confirming the presence of high-grade Au-Ag-Bi-Cu-Pb mineralisation, with assays up to 1.89 g/t Au, 589 g/t Ag, 1.85% Bi, 8.95% Cu and 2.13% Pb. GNM continues to advance towards drilling commencement at Douglas Creek. Native Title clearance activities have been completed by representatives of the Gugu Badhun People who cleared the areas of the planned access roads and drill pads for the initial Douglas Creek drilling program. An earthmoving contractor is mobilising to site to commence developing the planned access roads and drill pads and the proposed wet weather access track route from the Kilclooney homestead. Design for initial reverse circulation (RC) drill program has been completed program will consist of 13 drill holes (approx. 1,100m drilling) and seek to test Target Areas One, Two and Four. Ground mapping, sampling and remote sensing activities continue at Douglas Creek, as GNM continues to grow this exciting new greenfield discovery. Recent systematic sampling at Douglas Creek has confirmed the presence of high-grade outcropping Au-Ag-Bi-Cu-Pb mineralisation (Target Area 4), over an area of approximately 300m length (NE-SW) and 100-150m width (SE-NW). Peak assays returned included 1.89 g/t Au (MB082), 598 g/t Ag (MB083), 8.95% Cu (MB096), 2.12% Pb (MB083) and 1.84% Bi (MB096). The mineralisation is hosted in a crudely laminated fragmental volcaniclastic or alternatively a protomylonitic sediment. Segmented gossanous sub-crystalline quartz veining occurs as quasi `lenses' sub-coplanar within the penetrative fabric. Board Change • Oct 24
No independent directors There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. No independent directors (5 non-independent directors). CEO, MD & Director Cameron McLean is the most experienced director on the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of independent directors. Lack of experienced directors. Announcement • Sep 28
Great Northern Minerals Limited, Annual General Meeting, Nov 22, 2022 Great Northern Minerals Limited, Annual General Meeting, Nov 22, 2022. Announcement • Sep 15
Great Northern Minerals Limited Announces Target Zone Increases as Drill Preparations Commence Great Northern Minerals Limited updated the market on progress at GNM's exciting Douglas Creek IRGS (Intrusion-Related Gold System) discovery, located on EPM 27522, part of GNM's Golden Ant Project in North Queensland. GNM have received assay results from 574 geochemical soil samples which, to date, have delineated five anomalous (gold-silver-copper) zones which are strongly associated with previous high grade rock chip sampling. The coincident anomalous zones (soils and rock chip assays) represent highly attractive drill targets and GNM has commenced drill preparation activities and aims to commence drilling by November 2022. Work carried (mapping and satellite imagery review) out by the GNM geology team indicated that the Douglas Creek IRGS mineralisation extends beyond the boundaries EPM 27522 and GNM recently applied for EPM 28598 to target the extensions to the Douglas Creek system. Ground mapping and sampling and remote sensing activities continue at Douglas Creek, as GNM continues to grow this exciting new greenfield discovery. Highlights: Results from 574 geochemical soil samples have confirmed the presence of extensive mineralised zones at the Douglas Creek Intrusion-Related Gold System (IRGS) discovery. Highly anomalous results gold up to 38.1 ppb, silver to 4.0 g/t Ag, copper to 1,023 ppm in soils. Anomalous soil results coincide with previous rockchip results, bolstering these areas as potential drill targets. Drill preparation activities have commenced - initial drill program design completed, landholder access agreement has been signed and Native Title clearance will shortly commence. Aiming to commence drilling by November 2022. Douglas Creek IRGS Discovery: GNM's Douglas Creek IRGS discovery is located on EPM 27522, part of GNM's Golden Ant Project in North Queensland. To date, GNM has defined multiple zones of outcropping IRGS mineralisation at Douglas Creek (over 125ha), with rock chips of up to 8.6 g/t Au, 288 g/t Ag and 11% Cu, plus extensive associated geochemical soil anomalies. Reconnaissance mapping and a review of satellite imagery recently completed by GNM indicated that the Douglas Creek IRGS system extends beyond the boundaries of EPM27522 and GNM has lodged an application to ensure that GNM controls any extensions of the system. Douglas Creek Soil Sampling Program: GNM have received assay results from 574 soil samples, which were taken on an initial 100m x 20m spaced grid over the Douglas Creek area. The soil sampling delineated multiple zones with highly anomalous geochemical results, with peak assays of gold up to 38.1 ppb, silver to 4.0 g/t Ag and copper to 1,023 ppm in soil. To date, five main mineralised zones have been defined (based on soil and rock chip sampling). Douglas Creek Planned Exploration: The GNM exploration team has commenced drill preparation activities, with a target of commencing drilling by November 2022. To date: Initial drill designs have been completed; Landowner access and compensation agreement has been signed; and GNM has engaged with the Gugu Badhun People to commence the Native Title clearance activities (proposed drill sites and any associated access roads). The GNM geology team are continuing exploration activities at the site, with reconnaissance mapping and sampling in conjunction with airborne magnetic data reprocessing and hyperspectral remote sensing continuing to expand the exciting Douglas Creek IRGS discovery. Announcement • Sep 08
Great Northern Minerals Limited Announces Board Changes Great Northern Minerals Limited announced the appointment of Mr. Donald Garner as Non-Executive Director effective from 30 September 2022. The Company would also like to announce the resignation of Mr. Simon Peters as Non-Executive Director of GNM effective 30 September 2022. Mr. Garner joins the GNM Board as Non-Executive Director after being appointed Board Advisor. Mr. Garner is a geologist with over 25 years' experience in the resources industry. He is currently Executive Director of Iltani Resources, a private Australian based company targeting future facing base metal (copper, zinc and tin) exploration and development opportunities. His previous public role was with Red River Resources from 2014 to 2021, a Company he led as Managing Director before moving to an Executive Director role where he was responsible for strategy and business development. Mr. Garner delivered exceptional value for RVR shareholders, transforming RVR from an ASX listed shell into a resource company with a portfolio of operating and development assets (the Thalangacopper-lead-zinc mine in QLD and Hillgrove gold-antimony mine in NSW) in addition to a highly attractive exploration portfolio with a peak market capitalisation of AUD 200 million. Prior to RVR, Mr. Garner held senior executive roles in the resource sector and worked in metals & mining corporate finance. He has also worked as an exploration and mining geologist in Western Australia, Russia and Myanmar. After nearly 6 years in the role Mr. Peters is stepping down to focus on his other business interests. Announcement • Aug 11
Great Northern Minerals Limited Completes Reverse Circulation Drilling Program At Golden Cup Great Northern Minerals Limited announced that reverse circulation (RC) drilling program at Golden Cup has been successfully completed. The planned drilling program was successfully completed, comprising eleven RC drillholes for 1,022m drilled. The drill holes were designed to test along strike and the down dip extensions of mineralisation intersected in previous drilling beneath historical open pits at Golden Cup. Mineralisation associated with quartz veining and mixed disseminated sulphides (pyrite & arsenopyrite) was encountered in nine drillholes of the initial eleven-hole program. Based on this success, an additional seven RC drillholes were completed (for 685m drilled) to test for extensions to the newly defined mineralisation. The Golden Cup deposit is located on ML 4536 and is part of GNM's Golden Ant Project in North Queensland. Nine open pits were mined over 1,500m of strike length for 0.2Mt tonnes of ore produced at an average grade of 2.8 g/t Au, with production finishing in 1993. The average pit depth was less than 15m, targeting the oxide mineralisation. Golden Cup Drilling Program: Eighteen reverse circulation (RC) drill holes (GCRC082 to GCRC099) were completed (total of 1,707m drilled) at GNM's Golden Cup deposit. The initial eleven-hole drill program (1,022m drilled) was designed to target extensions to known high grade gold mineralisation and to extend the high-grade gold mineralisation at depth and along strike. Nine drill holes in the initial program intersected visually identified mineralisation (quartz veins plus fine-grained disseminated pyrite and arsenopyrite with associated silica + sericite ± carbonate alteration and bleaching), and the program was extended by an additional seven drillholes (685m drilled) to test for extensions to the newly defined mineralisation. Announcement • Jul 28
Great Northern Minerals Limited Announces the Results of the Latest Exploration Activities At Its Douglas Creek IRGS (Intrusion-Related Gold System) Discovery Great Northern Minerals Limited announced the results of the latest exploration activities at its Douglas Creek IRGS (Intrusion-Related Gold System) discovery, located on EPM 27522, part of GNM's Golden Ant Project in North Queensland. GNM's geology team have completed an extensive program of geochemical sampling (soil and rock) and mapping to better understand the new Douglas Creek discovery. To date, an area of approx. 125ha has been mapped and sampled, with soil sampling being carried out on an initial soil grid of 100m N-S x 20m E-W spacing, subsequently infilled to 50m N-S x 20m E-W spacing (723 samples in total). In addition, a total of forty-nine rock samples were submitted for assay. To date, mapping and sampling have defined three zones of extensive high-grade mineralisation. Zone 1 is a semi continuous gossan breccia zone with a strike length in excess of 350m, averaging 20- 30m wide. Zone 2 contains outcropping gossanous, quartz veined ± brecciation altered sandstone and rhyolitic rocks (limonitic-jarositic ± scorodite), spatially related to rhyolite dykes, over an area of 275m x 100m. Zone 3 consists of scattered float and occasional sub crop over a NE-SW trending zone, approximately 450m long and 20m wide. Limited outcrop - highly anomalous soil geochemistry reflects subsurface anomalism. The mineralised zones discovered are open to the southeast and to the southwest. GNM plans to carry out a further phase of exploration activities (mapping and geochemical sampling) to better understand the extent of the mineralisation prior to commencing drill design activities. Further exploration is scheduled to occur in July and August, as GNM continues to grow this new discovery. GNM's Douglas Creek discovery is located on EPM 27522, part of GNM's Golden Ant Project in North Queensland. GNM recently discovered high grade outcropping gold-silver-copper mineralisation whilst targeting a historical gold geochemical anomaly. Follow up mapping and sampling has defined three extensive zones of IRGS type mineralisation at Douglas Creek. An area of approx. 125ha has been mapped and sampled. Soil sampling was carried out on an initial soil grid of 100m N-S x 20m E-W spacing which was subsequently infilled to a 50m N-S x20m E-W grid spacing. A total of 723 samples taken and scanned by the GNM team using a portable XRF scanner. A total of 554 soil samples were submitted for assay to determine gold concentrations. The soil sampling results indicate the presence of extensive soil anomalies, with strong copper anomalism highlighting the areas of known mineralisation. Follow up mapping and sampling has defined a main gossanous breccia zone which is semi continuous for >350m averaging 20 to 30m wide. The zone has intermittent extensions to the south and southeast, indicating a potential strike length more than 500m. A strong soil copper geochemical anomaly coincides with this mapped zone. New extensions to the south of the known mineralisation have been defined from the recent soil infill sampling. High-grade auriferous rock chip samples have been collected from within this zone with peak assays of 8.56 g/t Au, 194.1 g/t Ag, 0.98% bismuth, 10.93% copper and 0.18% lead. Exploration activities have also discovered a new zone of mineralisation of approximately 275m NW-SE x 100m NE-SW across the Douglas Creek tributary to the north. GNM geologists mapped multiple zones of gossanous, quartz veined ± brecciation altered sandstone and rhyolitic rocks (limonitic-jarositic ± scorodite) that have a spatial relationship with rhyolite dykes. Initial rock chip samples were taken (MB06-07 & MB013-014 are representative of this alteration and mineralisation style) returning impressive results. All samples were mineralised with peak assays of 6.0 g/t Au, 277.8 g/t Ag 0.4% bismuth, 0.3% copper and 1.5% lead. Douglas Creek Planned Exploration: The GNM exploration team has returned to Douglas Creek to continue the systematic exploration program. The objective of the exploration activities scheduled to take place over July and August are as follows: Map and sample the areas of potential extensions to the known mineralisation (focusing on the extensions to the southeast and southwest); Mapping and sampling to better understand the geometry of the known mineralisation and seek to merge the current 3 zones of mineralisation into one larger zone; and Commence drill planning activities (scoping out likely access routes and drill pads in advance of Native Title clearance). Announcement • Jul 25
Great Northern Minerals Limited Announces Drilling Commences At Golden Cup Great Northern Minerals Limited announced that the drill program at Golden Cup has commenced. The Golden Cup deposit is located on ML 4536 and is part of GNM's Golden Ant Project in North Queensland. Nine open pits were mined over 1,500m of strike length for 0.2Mt tonnes of ore produced at an average grade of 2.8 g/t Au, with production finishing in 1993. The average pit depth was less than 15m, targeting the oxide mineralisation. High grade gold mineralisation at Golden Cup is open along strike and depth. The current drilling program is designed to test at depth, below any previous drilling, the mineralised structures which host the gold in the open pits at Golden Cup. Drilling is at a nominal 40 metre centres and should allow an increased understanding of the depth potential at Golden Cup. Mineralisation is hosted within deformed sediments of the Kangaroo Hills formation, similar in style to the mineralisation at Camel Creek, where quartz veining and sulphides characterize the known gold mineralisation. Announcement • Jul 12
Great Northern Minerals Limited Announces to Commence At Golden Cup Great Northern Minerals Limited announced that the Golden Cup drilling program is scheduled to commence in the last week of July. The Golden Cupdeposit is located on ML 4536 and is part of GNM's Golden Ant Project located in North Queensland. An initial 1,100m of RC (reverse circulation) drilling is planned to follow up on GNM's last Golden Cup drilling program, which was completed in December 2019 and returned high grade gold interceptsincluding 7m @ 7.5 g/t Au from 32m (GCRC074) and 9m @ 4.7 g/t Au from 42m (GCRC078). The drilling program is planned on nominal 40 metre centres, with hole depths ranging from 80-120 metres depth with a minimum of 1,100 metres to be drilled. The program is anticipated to takeapproximately two weeks to complete, with assay results due over the following 6-8 weeks. The drilling will target extensions to known high grade gold mineralisation and to extend the high grade gold mineralisation at depth and along strike. The current Golden Cup Mineral Resource is 0.3Mt @ 3.4 g/t Au and is open at depth and along strike. It is expected that the completion of the Golden Cup drill program will lead to a JORC 2012 resourceupgrade for Golden Cup. The Golden Cup deposit is located on ML 4536 and is part of GNM's Golden Ant Project in North Queensland. Nine open pits were mined over 1,500m of strike length for 0.2Mt tonnes of ore produced at an average grade of 2.8 g/t Au, with production finishing in 1993. The average pit depth was less than 15m, targeting the oxide mineralisation. High grade gold mineralisation at Golden Cup is open along strike and depth. The current drilling program is designed to test at depth, below any previous drilling, the mineralised structureswhich host the gold in the open pits at Golden Cup. Drilling is at a nominal 40 metre centres and should allow an increased understanding of the depthpotential at Golden Cup. Mineralisation is hosted within deformed sediments of the Kangaroo Hills formation, similar in style to the mineralisation at Camel Creek, where quartz veining and sulphides characterize the known gold mineralisation. Announcement • Jul 01
Great Northern Minerals Limited Announces Transition of Executive Technical Director Simon Coxhell to Non-Executive Director Great Northern Minerals Limited announced the transition of Executive Technical Director, Mr. Simon Coxhell to a Non-Executive Director (`NED') role effective close of business 30th June 2022. After over 2 years in the role Mr. Coxhell is stepping down from the full time position in order to focus on his other business interests. Mr. Coxhell has managed the exploration program from the acquisition of the North Queensland assets to a growing resource base of 385,000 oz, and the recent recognition of the Douglas Creek prospect. Mr. Coxhell will continue to contribute and guide the company in his NED position with the support of Exploration Manager, Mr. Mike Barr and the Board Advisor, Mr. Donald Garner. Announcement • May 31
Great Northern Minerals Limited Announces Results of Reconnaissance Sampling Program At the Douglas Creek Prospect Great Northern Minerals Limited ('GNM' or the 'Company') announced the results of a reconnaissance sampling program at the Douglas Creek prospect, located on EPM 27522, part of GNM's Golden Ant Project in North Queensland. Samples were taken from outcrop and float in an area with no known historical workings. The sampling program was designed to follow up a historic bulk cyanide leach gold (BCL) anomaly, dating from 1988, where sampling returned assays of up to 4 ppb (parts per billion) Au. Fifteen samples were taken from outcrop and surface float from an area approximately 900 by 170m. The majority of samples returned strongly anomalous gold, silver and copper grades of up to 2.0 g/t Au, 88 g/t Ag and 11.0% Cu. Further soil sampling and rock chip sampling will be carried out in June to follow up this exciting new discovery. GNM undertook reconnaissance rock chip sampling at the Douglas Creek target (EPM 27522), part of GNM's Golden Ant project in Central Queensland. Fifteen samples were taken over an area of approximately 900 by 170m. The reconnaissance program was designed to follow up a bulk cyanide leach (BCL) anomaly discovered in 1989 and never followed up. The BCL anomaly is located in an area with no known historic workings. The samples returned highly anomalous gold, silver and copper grades of up to 2.0 g/t Au, 84 g/t Ag and 11.0% Cu from mesothermal style mineralisation. GNM plan to complete a systematic soil sampling grid over the area combined with a more extensive rock chip sampling program to better understand the extent of the mineralisation. This program is scheduled to take place in June. Announcement • May 30
Great Northern Minerals Limited Appoints Mike Barr as Exploration Manager Great Northern Minerals Limited announced the appointment of Mike Barr as Exploration Manager. Mike has over 40 years experience within the mining and exploration industry as an explorationist, project manager and consultant. Mike has been involved in mine site development (Balcooma, Red Dome, Mungana, Gold Ridge, Mt Moss), brown and greenfield exploration within Australia (QLD & NSW), the Pacific Rim (PNG, Solomon Islands, Kalimantan) and Europe (Greece & Turkey). Mike has extensive knowledge of the Great Northern Minerals' assets from his tenure with Curtain Brothers where he held the roles of Chief Geologist and Mine Manager from 2006 to 2015. CurtainBrothers held and evaluated the Camel Creek, Golden Cup and Big Rush mines during this time. Mike was also an Exploration Geologist at Kagara Zinc from 2003 to 2006 where he managed the exploration program and resource definition at Balcooma and Dry River South prior to commencement of the Balcooma open pit operations in mid 2006. Mike holds a MSc. Economic Geology from James Cook University and is a member of the Australian Institute of Geologists. Board Change • Apr 27
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. 2 experienced directors. No highly experienced directors. 1 independent director (4 non-independent directors). Independent Non-Executive Director Simon Peters is the most experienced director on the board, commencing their role in 2016. They were also the last independent director to join the board. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Announcement • Mar 10
Great Northern Minerals Limited Announces Initial Camel Creek Mineral Resource Estimate Great Northern Minerals Limited ('GNM' or 'Company') announced the initial Camel Creek Mineral Resource Estimate (MRE) of 2.4Mt @ 2.6 g/t Au & 0.4% Sb (202 koz Au & 9,000 tonnes Sb), part of GNM's Golden Ant Project in North Queensland. The Camel Creek MRE increases the contained gold in the Golden Ant Project MRE by 111% to 386 koz Au plus 9,000 tonnes Sb. The Camel Creek Project is part of GNM's Golden Ant Project and is located approximately 200km north-west of Townsville in north-eastern Queensland. The Camel Creek deposit lies wholly within Mining Leases MLs 10168, 10175 and 10192 which are held by Golden Ant Mining Pty Ltd. Great Northern Minerals Limited acquired 100% of issued capital of Golden Ant Mining Pty Ltd. in August 2020 and now holds a 100% interest in Mining Leases. The Mining Leases are all granted. To date, the majority of the Camel Creek Mineral Resource Estimate is located within the Hinge Zone (comprising 61% of the total resource by volume and 65% by tonnage, at 0.5 Au g/t cut-off). The Hinge Zone is open at depth and strike and GNM intends to carry out a systematic drilling program in 2022 to target these potential extensions and also to support the potential for a high grade UG mining operation. The initial Camel Creek Mineral Resource Estimate (MRE) of 2.4Mt @ 2.6 g/t Au & 0.4% Sb (202koz Au & 9,000 tonnes Sb) has driven a material increase in the Golden Ant Project Mineral Resource to 6.1Mt @ 2.0 g/t Au (386koz Au). The successful completion of the Camel Creek MRE supports the Golden Ant Scoping Study, designed to assess mining, metallurgical, environmental parameters of the project and to investigate and determine the optimum path forward to understand the potential economics of both the Camel Creek mineralized zones and also the potential integration of the entire Golden Ant project. To date, GNM has completed Mineral Resource Estimates for its Camel Creek, Golden Cup and Big Rush deposits delivering a total Mineral Resource of 6.1Mt @ 2.0 g/t Au (386 koz Au). GNM believes that there is significant potential to increase this resource. All deposits (Camel Creek, Golden Cup and Big Rush) are open at depth and strike and GNM intends to undertake targeted exploration at these deposits, targeting potential high-grade mineralization at depth. The Golden Cup deposit is only defined to 70 meters vertical depth and further deeper drilling at depth is likely to define additional mineralization in this area. GNM is currently planning a drilling program to test the Golden Cup depth extensions and this program is scheduled to commence in second quarter of 2022. Announcement • Feb 09
Great Northern Minerals Limited Confirms Diamond Drilling Depth Extensions Great Northern Minerals Limited to announce diamond drilling results from the Golden Camel deposit at the Golden Ant Project in Far North Queensland. All four holes intersected gold-silver-antimony mineralisation, with CCRCD81 confirming the high-grade gold-silver-antimony Hinge Zone is open at depth. The results of the drilling will be used in the estimate of the initial Camel Creek Mineral Resource and to plan the next round of drilling. The Mineral Resource Estimate will be completed by end of the current quarter. The completion of the Camel Creek MRE will complete the initial phase of resource estimates for the Golden Ant Project advancing the Golden Ant scoping study. Camel Creek Diamond Drilling Results: GNM has received the following material assay results for a recently completed diamond drilling program at the Camel Creek deposit. A total of 484m of HQ diameter diamond drilling was completed with 508 metres of RC (reverse circulation) pre collars (refer to ASX release "Camel Creek Diamond. All holes intersected mineralisation, with a highlight being the mineralisation intersected in CCRCD81, with broad mineralised zones containing higher grade gold-silver-antimony rich veining. The results from the diamond drilling will be used in the estimation of an initial Mineral Resource for the Camel Creek deposit, which is expected to be completed by the end of the current quarter. The results from the drilling will be used in planning the next round of drilling at Camel Creek, in particular to target the high-grade Hinge Zone which remains open at depth. Camel Creek Hinge Zone: GNM's drilling to date has defined a high-grade plunging mineralisation shoot which is open at depth. The Hinge Zone mineralisation consists of high-grade gold-silver-antimony mineralization and material (> 50 gm metre Au) intersections listed. The Hinge Zone represents an exceptional UG target - with high grade to bonanza grade mineralization consistently intersected over mineable widths. High high-grade gold-silver-antimony mineralisation has been intersected to date in multiple holes - with CCRC50 returning 3m @ 67.7 g/t Au, 15 g/t Ag and 11.2% Sb from 191.0m down hole. Camel Creek & Golden Ant Project: Camel Creek is the major mining centre in the Amanda Bell Goldfield, which covers an area of approx. 1,000 km2 in Far North Queensland. Gold bearing oxide ore has been mined from open pits on eight deposits and these plus other smaller pits all have material primary sulphide mineralisation remaining, many of them with significant antimony mineralisation in addition to the gold. Total gold production from the Amanda Bell Goldfield was approximately 95,000 oz Au (57,000 oz from Camel Creek and 14,000 oz from Camel Creek satellite deposits plus 18,000 oz from Golden Cup and 6,000 oz from Golden Cup satellite deposits). Mining activities commenced in 1989 and ceased in 1995 with the depletion of oxide gold mineralisation. At the Camel Creek deposit there were 28 pits mined over 5,000 metres of strike length for >1 million tonnes mined at an average grade of 1.7 g/t Au. The heap leach pads contain a significant amount of relic auriferous oxide & sulphide ores. The Golden Ant Project is located approximately 200km northwest of Townsville in Northern Queensland. The Project consists of the Amanda Bell Goldfield and the Big Rush Goldfield which were mined from 1989 to 1998 producing approximately 150,000 oz Au. Announcement • Dec 08
Great Northern Minerals Limited announced that it expects to receive AUD 3 million in funding Great Northern Minerals Limited announced a private placement of 266,733,833 common shares at a price of AUD 0.006 per share for gross proceeds of AUD 3,000,000 on December 8, 2021. The transaction will include participation from sophisticated and professional investors. The company will receive funding in two tranches, first tranche for 300,000,000 shares and the second tranche for 200,000,000 shares to be issued pursuant to shareholder approval. Announcement • Nov 30
Great Northern Minerals Limited Provides Camel Creek Diamond Drilling Update Great Northern Minerals Limited announced that the diamond drilling program at Camel Creek has been completed. A total of 484 metres of HQ diamond drilling was completed with 508 metres of precollars. All of the diamond holes intersected favourable lithologies and potential mineralisation as defined by anomalous sulphide accumulations and have been geotechnically and geologically logged. Over the next few days all diamond core for analysis will be transported to Townsville, the core will be cut and submitted to the laboratory for multielement analysis. The laboratory has advised that due to unprecedented sample numbers and back logs, results are likely to be available by the end of January 2022. The Company will continue to keep its shareholders informed in respect of this matter. Once all results have been analysed by the laboratory and the results received by the Company, the initial JORC resource for Camel Creek will be completed. Recent Insider Transactions • Oct 08
Insider recently sold AU$230k worth of stock On the 30th of September, Charles Arve sold around 26m shares on-market at roughly AU$0.0088 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of AU$143k more than they bought in the last 12 months. Announcement • Jun 12
Great Northern Minerals Limited Announces the Receipt of the Second and Final Four Metre Composite Results Great Northern Minerals Limited announced the receipt of the second and final four metre composite results from the recently completed RC reverse circulation (RC) drilling program, which comprised a total of 49 holes for 5996 metres of drilling. Planning for an additional RC and diamond tail (HQ) program is well advanced with an anticipated start by the end of July 2021, subject to finalisation with the drilling contractor. This follow up program is aimed at testing further strike extensions and down dip continuity to be followed by an initial resource estimate later in the year. Announcement • May 18
Great Northern Minerals Limited Announces New Zone at Camel Creek Delivers High Grade Gold Results Great Northern Minerals Limited announced the receipt of the initial four metre composite results from the first batch of assays at Camel Creek from its large ongoing reverse circulation (RC) drilling program. These results cover the first 24 holes drilled during late April and early May 2021 at Camel Creek for a total of 2876 metres. An additional 24 holes for approximately 2600 metres are currently being drilled with assays results due by the second week of June. The current program is likely to be extended. The high grades in CCRC50CCRC54 relate to testing of the Hinge Zone target where deeper drilling in a new untested position has highlighted and outlined a substantial zone of new mineralisation which has now been outlined over 200 metres of
strike and extending to at least 180 metres below surface. Although early days, grades and widths appear to be increasing at depth. CCRC30CCRC49 were drilled to the north on 40-80 metre centres, initially targeting underneath the previously mined areas. Results in these areas, although narrow are encouraging, as no deep drilling in these areas had previously been completed and this latest drilling has established gold mineralisation extending over 1600 metres of strike. Further deeper drilling in these areas is required. On completion of this campaign and receipt of final assays GNM will plan a follow up program aimed at testing further strike extensions and down dip continuity to be followed by an initial resource estimate later in the year. The first batch of four metre composite assay results from the Camel Creek reverse circulation program have been returned. These results cover the first 24 RC holes for 2876 metres with approximately 24 holes for 2600 metres remaining to be drilled and analysed. The anomalous original one metre samples relating to these 4 metre composites have been collected in the field and submitted to the laboratory for final multielement analysis to accurately define and document the intersections indicated from the four metre composite results. Gold assays for the four metre composite samples provide an indicative distribution of the grades, and all anomalous one metre assays will now be anlaysed for multi-element assays and gold. A full listing of the anomalous intersections (all greater then 0.2 g/t Au) is documented in Table One. The majority of the anomalous intersections are associated with a strong mylonite zone trending north east and in places up to 10 metres in width and extending along strike over the entire area tested. An increase in quartz veining and sulphide content accompanies the anomalous intersections. Announcement • Feb 08
Great Northern Minerals Limited Announces High Grade Gold Identified in Large Arsenic Anomaly Adjacent to the Big Rush Mining Lease Great Northern Minerals Limited announced the receipt of assay results from rockchip sampling of a prominent arsenic gold anomaly from within GNMs tenement EPM 27283. This anomaly is characterised by + 200 ppm arsenic
values determined from Portable XRF analysis of soil samples. Recent rock chip sampling along the spine of this anomaly which corresponded with a topographic high (similar to the Big Rush mined deposits) recorded a maximum value of 26.64 g/t Au, which is considered highly encouraging. RC drill testing of this anomaly is planned as part of the next drilling programme. Initially, 6 RC holes on 40 metre centres is required to drill test this anomaly which has been termed "Mikes Anomaly." Work by Great Northern Minerals has involved detailed data capture and compilation of all historic activities. This legacy data is of high value and quality and allows systematic review of all past work. In 2014-2015, a regional Niton pXRF soil sampling program was completed over portions of EPM 27283 and covered 11.3km x 3.3km of ground with a total area tested being approximately 34 km. The program included the area surrounding the Big Rush deposit within tenement EPM27283 which abuts the south western corner of the Big Rush Mining Leases 10168, 1017 and 10162. Great Northern Minerals obtained a copy of the various historic compiled data and identified the anomaly as a zone of interest. A site visit completed recently and involving a first pass rock chip sampling program involved the collection of 9 rock chip samples along the spine of the anomaly with results highlighting a plus 400 metre zone of interest and gold anomalism. The selective rock chip sampling targeted quartz and ferruginous material located in the vicinity of the anomaly and provides a clear focus for further work. Site clearance surveys and logistical access work is required prior to drill testing of Mikes Anomaly. Announcement • Jan 14
Great Northern Minerals Limited Announces the Receipt of All of the Assay Results Great Northern Minerals Limited announced the receipt of all of the assay results (CCAC01-CCAC15) from the aircore and reverse circulation drilling programme at the Company's Camel Creek Gold Project in Northern Queensland. The total recent drilling program at Camel Creek comprised 15 aircore and RC holes for 1,090 metres, testing three different areas and extended the drill testing completed earlier by Great Northern Minerals to over approximately 1,000 metres of strike, underneath a series of previously mined shallow open pits. Drill hole depths ranged from 68 to 90 metres depth and averaged 73 metres total depth. Great Northern Minerals has now completed its second drilling program at Camel Creek, which totalled 4 aircore holes for 285 metres and 11 slimline (4 inch) RC drillholes for 805 metres. All final analytical results have been returned and compiled. A number of high grade gold results have been returned including 5m @ 12.20, 9m @ 4.93 g/t Au and 11m @ 2.94 g/t Au. All of the results have highlighted and extended the known gold mineralisation at Camel Creek with a number of significant intersections being returned and providing confidence in the ability to develop a large gold resource at Camel Creek. The two holes which did not return any significant intersections are believed to have been just short of the interpreted target zone/s and had sample return issues in clay rich zones interpreted to be adjacent to the gold mineralised zones. The vast majority of the anomalous intersections are associated with quartz veining and associated increases in sulphides (arsenopyrite, pyrite and stibnite) focused on mylonised lithological contact zones within a sedimentary sequence of sandstones, shales and siltstones. True thickness of the mineralised zones ranged from 1 to 4 metres in width and are interpreted to all be open at depth and along strike, providing plenty of resource development potential. Total strike length of the mineralisation at Camel Creek based on the previously mined open pits and plus 1.0 g/t Au assays extends over 3 kilometres of known strike. Announcement • Dec 15
Great Northern Minerals Limited Receives Final Assays from the Diamond Drilling Programme At the Big Rush Gold Project in Northern Queensland Great Northern Minerals Limited has received all of the final assays from the diamond drilling programme at the company's Big Rush Gold Project in Northern Queensland. The total recent diamond drilling at Big Rush comprised 4 HQ diamond holes for 1039.8 meters spread over approximately 200 meters of strike underneath the previously mined Central open pit. The individual detailed diamond results at Big Rush have highlighted an important laminated quartz vein which pinches and swells (boudinaged) and is the focus of the introduced gold at depth. The drilling has also allowed the commencement of a JORC 2012 resource estimate for Big Rush and final data compilation and validation has commenced for this work. The drilling was following up on the previously completed RC drill program at Big Rush which totaled 22 RC drill holes for 3634 meters targeting underneath the Central, Southern and Northern pit areas. A number of high grade gold results were returned including 1m @ 81.68 g/t Au, 3m @ 21.73 g/t Au and 2m @ 17.16 g/t Au, and this latest deep diamond drilling has now confirmed the mineralization extends to at least 200 meters depth. Results include: 3.05m @ 4.23 g/t Au (BRRCD003) including 0.45m @ 21.47 g/t Au from 238 meters; 5.15m @ 1.21 g/t Au (BRRCD002) from 230 meters; 5.3m @ 1.27 g/t Au (BRRCD004) from 204 meters. Reported Earnings • Sep 30
Full year earnings released - AU$0.0076 loss per share Over the last 12 months the company has reported total losses of AU$2.72m, with losses widening by 11% from the prior year. 
