New Risk • Jun 03
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 Earnings have declined by 13% per year over the past 5 years. Shareholders have been substantially diluted in the past year (86% increase in shares outstanding). Revenue is less than US$1m (AU$24k revenue, or US$17k). Market cap is less than US$10m (AU$6.37m market cap, or US$4.57m). Minor Risks Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Share price has been volatile over the past 3 months (14% average weekly change). Duyuru • Apr 21
Auravelle Metals Limited (ASX:AUV) completed the acquisition of Nine tenements adjacent to Crown Gold Project in Australia from Majestic Gold Mines Pty. Ltd. Auravelle Metals Limited (ASX:AUV) entered into an agreement to acquire Nine tenements adjacent to Crown Gold Project in Australia from Majestic Gold Mines Pty. Ltd. for AUD 0.2 million on April 7, 2026. Under the terms of the transaction, OMX will receive 13.17 million Auravelle shares, issued at a price based on Auravelle’s 5-day VWAP prior to execution of the agreement. 50% of the Consideration Shares will be subject to a 12-month voluntary escrow from the Agreement execution date. Shares will be issued to the vendor following Completion, which is scheduled for April 13, 2026 subject to all Completion steps being taken by that date.
Completion of the transaction is subject to customary conditions, including the issue of consideration shares by Auravelle.
Auravelle Metals Limited (ASX:AUV) completed the acquisition of Nine tenements adjacent to Crown Gold Project in Australia from Majestic Gold Mines Pty. Ltd. on April 21, 2026. New Risk • Apr 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended June 2025. 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 Earnings have declined by 13% per year over the past 5 years. Shareholders have been substantially diluted in the past year (86% increase in shares outstanding). Revenue is less than US$1m (AU$24k revenue, or US$17k). Market cap is less than US$10m (AU$8.50m market cap, or US$6.09m). Minor Risk Latest financial reports are more than 6 months old (reported June 2025 fiscal period end). Duyuru • Apr 08
Auravelle Metals Limited (ASX:AUV) entered into an agreement to acquire Nine tenements adjacent to Crown Gold Project in Australia from Majestic Gold Mines Pty. Ltd. for AUD 0.2 million. Auravelle Metals Limited (ASX:AUV) entered into an agreement to acquire Nine tenements adjacent to Crown Gold Project in Australia from Majestic Gold Mines Pty. Ltd. for AUD 0.2 million on April 7, 2026. Under the terms of the transaction, OMX will receive 13.17 million Auravelle shares, issued at a price based on Auravelle’s 5-day VWAP prior to execution of the agreement. 50% of the Consideration Shares will be subject to a 12-month voluntary escrow from the Agreement execution date. Shares will be issued to the vendor following Completion, which is scheduled for April 13, 2026 subject to all Completion steps being taken by that date.
Completion of the transaction is subject to customary conditions, including the issue of consideration shares by Auravelle. Duyuru • Jan 13
Auravelle Metals Limited has completed a Follow-on Equity Offering in the amount of AUD 2.5 million. Auravelle Metals Limited has completed a Follow-on Equity Offering in the amount of AUD 2.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 132,803,047
Price\Range: AUD 0.016
Discount Per Security: AUD 0.00096
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 23,446,953
Price\Range: AUD 0.016
Discount Per Security: AUD 0.00096
Transaction Features: Subsequent Direct Listing Duyuru • Nov 10
Auravelle Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 2.5 million. Auravelle Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 2.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 132,803,047
Price\Range: AUD 0.016
Discount Per Security: AUD 0.00096
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 23,446,953
Price\Range: AUD 0.016
Discount Per Security: AUD 0.00096
Transaction Features: Subsequent Direct Listing New Risk • Sep 29
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 Earnings have declined by 2.4% per year over the past 5 years. Shareholders have been substantially diluted in the past year (83% increase in shares outstanding). Revenue is less than US$1m (AU$75k revenue, or US$49k). Market cap is less than US$10m (AU$7.91m market cap, or US$5.18m). 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 (15% average weekly change). Duyuru • Sep 16
Auravelle Metals Limited, Annual General Meeting, Nov 20, 2025 Auravelle Metals Limited, Annual General Meeting, Nov 20, 2025. Location: unit 5, 12-20 railway road, subiaco wa 6008 Australia Duyuru • Jul 18
Sipa Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 1.607394 million. Sipa Resources Limited has completed a Follow-on Equity Offering in the amount of AUD 1.607394 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 104,099,580
Price\Range: AUD 0.014
Discount Per Security: AUD 0.00084
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 10,714,286
Price\Range: AUD 0.014
Discount Per Security: AUD 0.00084
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Duyuru • Jun 30
Sipa Resources Limited Announces Retirement of Rick Yeates, Non-Executive Director from the Board of Directors Effective 30 June 2025 Sipa Resources Limited announced that non-executive Director Mr. Rick Yeates will retire from the Board of Directors effective 30 June 2025. The Board is pleased to advise that Mr. Yeates will continue his involvement with Sipa as a
consultant to provide technical support to Sipa's exploration team. New Risk • Apr 08
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 83% 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 Earnings have declined by 2.4% per year over the past 5 years. Shareholders have been substantially diluted in the past year (83% increase in shares outstanding). Revenue is less than US$1m (AU$75k revenue, or US$45k). Market cap is less than US$10m (AU$4.58m market cap, or US$2.77m). Minor Risk Share price has been volatile over the past 3 months (15% average weekly change). New Risk • Mar 15
New major risk - Revenue and earnings growth Earnings have declined by 2.4% 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 (19% average weekly change). Earnings have declined by 2.4% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$3.42m market cap, or US$2.16m). Minor Risk Shareholders have been diluted in the past year (25% increase in shares outstanding). Duyuru • Feb 15
Sipa Resources Limited Appoints Stephen Biggins as A Non-Executive Director Sipa Resources Limited announced the appointment of Stephen Biggins as a non-executive director. Stephen is a geologist and executive with 30 years of global exploration and mining experience. He is the former Managing Director of Core Lithium Ltd. in the Northern Territory, taking it from discovery to mining and achieving a $2 billion market capitalisation in the process. He is currently the non-executive chair of Winsome Resources Limited, which has defined a globally significant 78Mt lithium deposit in Canada, and Stelar Metals Limited. Stephen also led the discovery of the Cannon gold mine in WA and defined the first gold resource at Golf Bore in SA as the managing director of Southern Gold limited. He was the founding director of Investigator Resources Limited which discovered Australia's highest grade silver deposit on its founding tenements. New Risk • Feb 11
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 25% 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 (18% average weekly change). Revenue is less than US$1m (AU$203k revenue, or US$127k). Market cap is less than US$10m (AU$3.42m market cap, or US$2.15m). Minor Risk Shareholders have been diluted in the past year (25% increase in shares outstanding). New Risk • Dec 05
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 12% 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$203k revenue, or US$130k). Market cap is less than US$10m (AU$2.97m market cap, or US$1.91m). Minor Risk Share price has been volatile over the past 3 months (12% average weekly change). Board Change • Dec 04
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Non-Executive Director John Forwood was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Duyuru • Sep 18
Sipa Resources Limited, Annual General Meeting, Nov 21, 2024 Sipa Resources Limited, Annual General Meeting, Nov 21, 2024. Location: at unit 5, 12-20 railway road, subiaco wa 6008., Australia New Risk • Jul 01
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 16% 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 (16% average weekly change). Revenue is less than US$1m (AU$240k revenue, or US$160k). Market cap is less than US$10m (AU$3.65m market cap, or US$2.44m). Minor Risk Large one-off items impacting financial results. Duyuru • Oct 06
Sipa Resources Limited Announces Managing Director Changes, Effective 12 October 2023 Sipa Resources Limited announced the appointment of experienced resource company executive, Mr. Andrew Muir as Managing Director, effective 12 October 2023. Mr. Muir will succeed Mr. Pip Darvall who is stepping down after leading the Company for the last four years. Mr. Muir is a highly regarded mining executive with approximately 30 years' experience in the mining and finance industries, originally graduating as a geologist in 1993. Andrew has a strong background in gold exploration and geology, coupled with deep project evaluation and corporate experience. He joins Sipa after roles as Managing Director at NTM Gold Ltd. where he was responsible for significant exploration success prior to the takeover of NTM by Dacian Gold Limited and mostrecently at Caprice Resources Limited. Mr. Muir is an experienced geologist with time spent across both exploration and mining operations.Andrew was instrumental in the discovery of the multi-million-ounce Wallaby deposit while at the Granny Smith operations, and has previously worked with Great Central Gold Mines, Placer Dome and Goldfields Limited. Prior to NTM, Mr. Muir worked at Argonaut, where he was an Associate Director with Argonaut's Corporate team. He was also a resource analyst for JP Morgan, Hartleys and PCF Capital, having won the 2009 Starmine/AFR Stockpicker of the year whilst at Hartleys. Mr. Muir holds a BSc. with Honours from UWA and is Fellow of FINSIA (F FIN). Mr. Muir will commence as Managing Director on 12 October 2023 and Mr. Darvall will continue part- time as required to facilitate a smooth management transition. New Risk • Sep 26
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$2.7m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$2.7m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Earnings have declined by 0.3% per year over the past 5 years. Revenue is less than US$1m (AU$513k revenue, or US$328k). Market cap is less than US$10m (AU$4.56m market cap, or US$2.92m). Minor Risk Shareholders have been diluted in the past year (11% increase in shares outstanding). Duyuru • Sep 20
Sipa Resources Limited, Annual General Meeting, Nov 15, 2023 Sipa Resources Limited, Annual General Meeting, Nov 15, 2023, at 09:00 W. Australia Standard Time. New Risk • Jul 05
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$500k revenue, or US$334k). Market cap is less than US$10m (AU$5.82m market cap, or US$3.89m). Minor Risk Shareholders have been diluted in the past year (11% increase in shares outstanding). Duyuru • Feb 13
Sipa Resources Limited Advises Further Review Confirms the Nickel Potential At Its Skeleton Rocks Project Sipa Resources Limited advised that a further review has confirmed the nickel potential at its 100%-owned Skeleton Rocks project, with elevated nickel and other elements identified in historic surface sampling and drilling. Assays from surface sampling conducted by Westonia Mines Limited returned anomalous Ni-Co-Cr- PGE results (WAMEX A68762), leading to follow-up drill testing in 2006, when 15 reverse circulation (RC) holes were completed over a prominent magnetic feature at the Jilbadgie nickel prospect, (WAMEX A73179). Assay results from this shallow RC drilling returned up to 3m @ 0.65% Ni from 36-39m within an overall intercept of 27m @ 0.36% Ni from 18-45m in hole WJRA06 047 (WAMEX A73179), among other intercepts. Detailed analysis of both the surface and drill geochemistry has highlighted a number of samples with anomalous nickel-chrome ratios. The majority of the oxidised to weakly oxidised samples collected in the drilling define a systematic trend typical of mafic-ultramafic rocks, with the anomalous samples displaying substantially more Ni than is expected for their Cr content. The excess Ni may be due to mineralisation and further investigation and sampling is warranted at these locations, as well as along strike where `look-alike' geophysical features have not been drill tested. Lithium Potential: Skeleton Rocks is also strategically located between the Great Eastern Highway and the Mt Holland lithium project, currently being developed in a joint venture between ASX conglomerate Wesfarmers and Chilean mining major Sociedad Quimica y Minera de Chile S.A. (SQM). Previous Sipa drill programs identified localised lithium-caesium-rubidium anomalism. The source of this anomalism remains a focus for exploration and additional samples have recently been collected across a broad area of the project and submitted for assay. Pegmatites logged in historic drilling by Westonia Mines Limited (WAMEX A73179) will also be followed up in future programs. Duyuru • Jan 20
Sipa Resources Limited Announces Company Secretary Changes Sipa Resources Limited announced the appointment of Mr. Greg Fitzgerald as Company Secretary, replacing Ben Donovan at close of business on 20 January 2023. Mr. Fitzgerald is a Chartered Accountant with over 30 years of resources related experience and has had extensive involvement in managing finance and administrative matters for listed resources companies. He has performed the roles of Company Secretary, Chief Financial Officer and Non- Executive Director for a number of ASX listed gold producers and exploration companies. Prior to that he worked for EY as a manager in the firm's audit division before moving into the resources sector. Duyuru • Jan 18
Sipa Resources Limited Receives Assay Results from the Three Diamond Drill Holes Completed as Part of the Exploration Program At the Barbwire Terrace Project Located South-East of Broome in Western Australia Sipa Resources Limited announced that it has received assay results from the three diamond drill holes completed as part of the exploration program at the Barbwire Terrace Project located south-east of Broome in Western Australia. Exploration is managed and operated by Sipa under a 50/50 joint venture ("JV") with Buru Energy Limited, with the goal of discovering lead-zinc mineralisation in an analogous geological setting to the zinc-lead deposits along the Lennard Shel). The latest drilling at Barbwire Terrace was co-funded by the Western Australian government's Exploration Incentive Scheme, with up to $180,000 to be provided to the JV towards drilling costs. Three diamond holes were drilled for a total of 1,412m at up to 20km spacing along strike. The broad-spaced reconnaissance program achieved an initial `proof of concept' within a portion of the extensive tenement holding. Base metal sulphides were observed in drill core from all three holes within large thicknesses of variably altered Pillara Limestone, the host to the zinc-lead deposits along the Lennard Shelf. Initial geological observations and elevated readings in handheld XRF confirmed the presence of lead and zinc sulphides. However, assay results were not in line with these initial observations, with the best intersection of 3050 ppm (0.3%) Zn in hole BWTDD004 within an intercept of 5m @ 1301 ppm (0.13%) Zn, compared with typical background levels of <50ppm Zn or Pb. Detailed examination of the core has shown that the base metal sulphides are typically found along fracture planes and lining the surfaces of the numerous calcite veins and vughs observed in the dolomitised Pillara Limestone, rather than disseminated throughout the entire rock mass. However, the zones of more massive sulphide mineralisation observed in core from BWTDD003 returned low level results for zinc and lead and further investigations are currently underway to understand why this is the case. The JV will conduct a detailed review of the assay results prior to finalising plans for follow-up exploration at the project. Duyuru • Dec 22
Sipa Resources Limited Advises Assay Results Have Been Received from Its Recent Aircore (Ac) Drill Program At Its 100%-Owned Warralong Project Sipa Resources Limited advised that assay results have been received from its recent aircore (AC) drill program at its 100%-owned Warralong project. The program was designed to test a narrow geophysical feature located on the edge of an interpreted structure not previously accessible. Thirty five holes for 1,054m were drilled in the program at 50m centres on 400m spaced lines (Figure 2, Table 1). Drilling intersected granitic and mafic basement rocks, consistent with the geophysical response . The best results returned were 17ppb Au in drillhole WLAC0246 compared with background levels of 0-3ppb Au, and 80ppm Li in WLAC0302 compared with background levels of 10- 30ppm Li. The low tenor of these results mean they are not considered significant. Sipa's Warralong project covers more than 1,000km sq. along major structures in a similar geological setting to nearby discoveries including the Hemi gold deposit, but with almost no previous exploration. Sipa has identified multiple additional targets within the Warralong project based on previous work and these targets will be prioritised for drill testing in 2023. Duyuru • Dec 20
Sipa Resources Limited Receives Assay Results from its Recent Aircore Drill Program at its 100%-Owned Warralong Project Sipa Resources Limited announced that assay results have been received from its recent aircore (AC) drill program at its 100%-owned Warralong project. The program was designed to test a narrow geophysical feature located on the edge of an interpreted structure not previously accessible. Thirty five holes for 1,054m were drilled in the program at 50m centres on 400m spaced lines. Drilling intersected granitic and mafic basement rocks, consistent with the geophysical response. Assay results did not show any anomalism compared with background levels and the target has been adequately tested. Sipa's Warralong project covers more than 1,000km sq. along major structures in a similar geological setting to nearby discoveries including the Hemi gold deposit, but with almost no previous exploration. Sipa has identified multiple additional targets within the Warralong project based on previous work and these targets will be prioritised for drill testing in 2023. Duyuru • Dec 14
Sipa Resources Limited Receives from Its Follow-Up Drill Program At Its 100%-Owned Skeleton Rocks Project Sipa Resources Limited advised that assay results have been received from its follow-up drill program at its 100%-owned Skeleton Rocks project (Figure 1), providing further definition of the target areas that were the focus of the program. Coherent halos of elevated lithium and other pegmatite-associated elements (caesium and rubidium) on the margins of greenstone units were identified in Sipa's March 2022 drilling. In September these locations were further tested by deeper reverse circulation (RC) drilling, which intersected predominantly mafic units with several garnet-bearing quartz veins (Figure 2). Assay results across the veined intervals were prioritised and show comparable levels of lithium, caesium and rubidium to results from the March 2022 drilling. A further review of the drill chips and logging has been completed and additional samples have subsequently been submitted for assay, the results of which are pending. Skeleton Rocks is strategically located between the Great Eastern Highway and the Mt Holland lithium project, currently being developed as part of a joint venture between Wesfarmers and Chilean mining major Sociedad Quimica y Minera de Chile S.A. (SQM). Duyuru • Oct 31
Sipa Resources Limited Announces Drilling Underway At Warralong Sipa Resources Limited advise that drill testing of one of its key gold targets targets at its 100%-owned Warralong project is in progress. The aircore (AC) drill program will consist of ~50 holes to nominal planned depths of 30m each, testing a prominent magnetic feature adjacent to a significant structure. Assays from Sipa's 2021 drill program identified anomalous silver, arsenic, bismuth, thorium and uranium in the only drill line that traversed the anomaly, and this program is designed to properly test the magnetic feature. Sipa's Warralong project covers more than 1,000 km sq. along major structures in a similar geological setting to nearby discoveries, but with almost no previous exploration. Duyuru • Oct 02
Sipa Resources Limited Provides an Update on Exploration Activities at the Paterson North Project Sipa Resources Limited provided an update on exploration activities at the Paterson North Project, which is the subject of a Farm-in and Joint Venture Agreement (Agreement) with Rio Tinto Exploration (RTX), with Sipa as the operator. Reverse Circulation (RC) drilling at Paterson North commenced in late June and was completed in mid-August. The RC drilling tested selected target areas, by sampling the prospective Proterozoic basement rocks after penetrating through more recent sedimentary cover. Assays have been received from the first batch of samples submitted from four holes drilled in the northern part of the project area, testing a prominent magnetic feature. A further 18 holes were drilled in other parts of the project and assay results from these holes are pending. In the initial batch of assays, a peak result of 517ppm Cu was returned in PNRC0003 from 125-126m depth. A further review of the results, including geochemical pathfinders, will be undertaken after all results from the drilling have been received. With this round of drilling completed and the remaining samples currently being assayed, further works have already been completed on site to support future drilling. A GAIP survey has just been completed in the southern part of the tenement package, extending the area covered in previous surveys. The data from this work will be added to the existing geophysical dataset to support future drill targeting efforts. Further GAIP surveys are also planned for the northern part of the project area and will commence in late October 2022. RTX Agreement: Under the Terms of the Agreement, RTX can earn a 70% interest in the project by sole funding expenditure of $12 million (being $6 million to earn 55% and a further $6 million to earn to 70%) and increase its interest to 80% by sole funding to the earlier of a JORC resource of AUD 1 billion in-ground value or the completion of an `Order of Magnitude Study'. Sipa is the current manager of the Paterson North Project. Duyuru • Sep 28
Sipa Resources Limited Provides A Progress Update on Its Exploration Program At the Barbwire Terrace Project Sipa Resources Limited provided a progress update on its exploration program at the Barbwire Terrace Project. Exploration is being managed and operated by Sipa under a 50/50 joint venture (JV) with Buru Energy Limited. The diamond drill program - designed to provide an initial test of a portion of the extensive tenement holding - has been completed, with the third hole reaching the target depth of 500m. Base metal sulphides were observed in all three holes within large thicknesses of variably altered Pillara Limestone. The Pillara Limestone hosts numerous zinc-lead deposits (Cadjebut and Pillara) along the Lennard Shelf in an analogous geological setting, and its presence along the Barbwire Terrace highlights the project's prospectivity for zinc-lead mineralisation. The fourth planned hole has been postponed until assay results have been received. Elevated levels of base metals were recorded in handheld XRF (pXRF) spot readings in all three holes. Spot pXRF readings from the first and second holes have already been reported, and in the third hole, numerous spot pXRF readings greater than 1% zinc and/or lead were recorded with the maximum result being 23.9% Zn + Pb. Given the results were obtained from a handheld XRF device, these spot results are preliminary in nature and may not be representative of the whole rock concentrations. Further results will be communicated once laboratory assaying has been completed in approximately four weeks, however such elevated readings - plus visible disseminated zinc/lead sulphides over significant intervals of core - are extremely encouraging. Drilling at Barbwire Terrace is being co-funded by the Western Australian government's Exploration Incentive Scheme, with up to $180,000 support to the JV towards drilling costs. Duyuru • Sep 26
Sipa Resources Limited Announces Lithium Drilling Underway At Skeleton Rocks Sipa Resources Limited advised that drill testing of lithium targets at its 100%-owned Skeleton Rocks project is in progress. The commencement of drilling was delayed slightly by wet weather, but the program is now in full swing. The reverse circulation (RC) drill program will consist of ~10 holes to nominal planned depths of 150m each, angled directly under the geochemical anomalies encountered in Sipa's March 2022 aircore drill program. Halos of lithium and other pegmatite- associated elements (caesium and rubidium in this case) have a limited dispersion around the margins of known deposits (e.g., Tanco in Canada and Wodgina, Western Australia), providing focussed drill targets. The targets being tested lie within unexplored greenstone units on the eastern margin of a large granite batholith. Sipa has all necessary approvals in place to expand the drill program, should it be required, based on initial results. Skeleton Rocks is strategically located between the Great Eastern Highway and the Mt Holland Lithium Project currently being developed as part of a joint venture between Wesfarmers and Chilean mining major Sociedad Quimica y Minera de Chile S.A. (SQM). Duyuru • Sep 21
Sipa Resources Limited, Annual General Meeting, Nov 16, 2022 Sipa Resources Limited, Annual General Meeting, Nov 16, 2022. Agenda: To consider board changes. Duyuru • Sep 15
Sipa Resources Limited Announces Drilling to Commence At Skeleton Rocks Lithium Targets Sipa Resources Limited advised that it has secured all the necessary approvals, and a drill rig, to shortly commence testing of lithium targets at its 100%-owned Skeleton Rocks project. Results from an aircore program conducted in March 2022 confirmed the existence of anomalous lithium in previously untested greenstone units. As a result, Sipa undertook further analysis of the complete data set, both internally and via external consultants. Those reviews highlighted target areas where elevated lithium and other pegmatite-associated elements (caesium and rubidium) form coherent halos of 4-5 times background levels on the margins of the greenstone units, often in association with quartz veining. These anomalous results may indicate the presence of nearby lithium-bearing pegmatites and will be tested via a follow up drill program commencing in the coming days. The planned reverse circulation program will comprise a series of deeper holes angled directly under the geochemical anomalies. Skeleton Rocks is strategically located between the Great Eastern Highway and the Mt Holland lithium project currently being developed as part of a joint venture between Wesfarmers and Chilean mining major Sociedad Quimica y Minera de Chile S.A. (SQM). Duyuru • Aug 31
Sipa Resources Limited Announces Initial Diamond Drilling Demonstrates Strong `Proof of Concept' At Barbwire Terrace Sipa Resources Limited provided a progress update on its exploration program at the Barbwire Terrace Project. Exploration is being undertaken under a 50/50 joint venture (JV) with Buru Energy Limited (Buru), with Sipa as the operator. Drilling is being co-funded by the Western Australian government's Exploration Incentive Scheme which will provide up to $180,000 support to the JV for drilling costs. The JV is currently testing one portion of its extensive tenement holding, which is highly prospective for lead-zinc mineralisation, sitting in an analogous geological setting to existing lead-zinc deposits along the Lennard Shelf on the north-eastern margin of the Fitzroy Trough. The first hole was completed with a final depth of 410m, and the second hole is currently in progress at ~330m. Interpreted dolomitised Pillara Limestone was intersected at 290m below surface in the first hole (BWTDD001), and persisted to the end of the hole. In the second hole BWTDD002/003, located some 20km to the southeast, dolomitised limestone has been intersected at 193m below surface. The presence of dolomitised limestone is coincident with the gravity high along the south- western margin of the Fitzroy Trough, analogous to limestones and dolomites of the Lennard Shelf,lying along the northeast margin of the trough, which host significant lead-zinc deposits. More encouraging still, the dolomitised limestones lie at a considerably shallower depththan modelled from geophysics and seismic data, a significant economic advantage should a discovery be made. In core retrieved from both holes, the limestone is dolomitised, hydrothermally altered, vuggy, brecciated and fractured throughout. Numerous late-stage carbonate-pyrite veins cross-cut the unit, along with zones where injection of fine grained sulphidic material has fractured the surrounding dolomite, resulting in the development of significant pyrite rims along the contacts. These features are indicative of mineralising processes. Handheld XRF (pXRF) readings in selected spot locations on the core from BWTDD001 returned up to 1071ppm Pb, and 737ppm Zn. Further results will be communicated once laboratory assaying has been completed. These results indicate that metal bearing fluids have been in contact with the target unit and further work will be undertaken to vector towards areas of potentially higher grade. All the best pXRF results were obtained in the bottom 20m of BWTDD001, but difficult drilling conditions due to the fractured and vuggy nature of the unit meant the hole had to be terminated at that point. Duyuru • Aug 10
Sipa Resources Limited Provides Exploration Programs Update Sipa Resources Limited provided a progress update on its multiple exploration programs in various parts of Western Australia. Sipa's major operational focus over the last month has been on its exploration program at the Paterson North project, which includes extensive drilling and geophysical surveys. The program is being conducted as part of a Farm-In and Joint Venture Agreement with Rio Tinto Exploration Pty Limited (RTX). Exploration on the project is being funded by RTX, pursuant to the FIJV Agreement, with a $3.2m funding commitment allocated to the 2022 exploration program. Drillholes have now been completed at one of the northern target areas, and further targets have been tested in the east and south of the project area. Current drilling is at targets located southeast of the Obelisk prospect. The first batch of samples is at the laboratory, with initial assay results expected late in August. A heritage survey is scheduled to commence in mid-September, to enable future drilling and other ground-based activities to proceed. In addition, the previously announced SkyTEM airborne geophysical survey has been completed. Data from the survey will now be processed and interpreted to assist in the generation of future drill targets. The Company looks forward to providing investors with assay results post the completion of drilling at Paterson North, which sits within 10km of RTX's Winu copper-gold discovery in northern WA. Barbwire Terrace (50/50 JV with Buru Energy Limited): Drilling is now underway at the Barbwire Terrace Project. Exploration is being undertaken under a 50/50 joint venture (JV) with energy company, Buru Energy Limited (Buru), with Sipa as the operator. The JV is currently testing only one portion of its extensive tenure, which is highly prospective for zinc-lead mineralisation and sits in an analogous geological setting to zinc-lead deposits along the Lennard Shelf. The initial hole is at approximately 300m (of a nominal 500m) depth. Upon completion of this hole, the rig will move approximately 20km along strike to the southeast to commence the next hole. Drilling is being co-funded by the Western Australian government's Exploration Incentive Scheme which will provide up to $180,000 support to the JV for drilling costs. Wolfe Basin (100% Sipa): An extensive soil sampling program has just commenced at Wolfe Basin across the entirety of tenement E80/5491. Once analysed, the survey results will provide an excellent dataset to identify future focus areas over this portion of the Wolfe Basin project, which is prospective for gold, base metals and rare earth elements. Soil sampling further to the north on tenement E80/5491 highlighted a significant base metal anomaly that is ready to drill. The project area also lies adjacent to RareX Limited's Cummins Range project, which contains a current resource estimate of 18.8Mt grading 1.15% TREO +0.14% niobium. Skeleton Rocks (100% Sipa): Drilling of lithium targets at Skeleton Rocks is planned to commence in second half of 2022, following the recent receipt of Program of Works approval. Key targets identified from Sipa's detailed aeromagnetic survey have been further refined by assay results from aircore drilling conducted earlier in 2022. Duyuru • Aug 02
Battmin Pty Ltd. and Sipa Resources Limited Commence Drilling Program in Western Australia Buru Energy Limited (Buru) announced that its wholly owned subsidiary Battmin Pty Ltd. (Battmin) is undertaking its first mineral exploration drilling campaign as a 50/50 Joint Venture partner with Sipa Resources Limited (Sipa). Battmin was initially formed to apply the geological knowledge that Buru had acquired in its extensive petroleum exploration activity in the Canning Basin to the exploration for minerals formed by similar processes, and often in association with, oil and gas accumulations. The drill program is the result of extensive geological and geophysical interpretation by the combined technical teams and the subsequent acquisition of targeted geophysical data. Sipa Resources Limited advised that drill testing of major base-metal targets has commenced at the Barbwire Terrace Project, located along the margin of the Fitzroy Trough in Western Australia. The project is being undertaken by a 50/50 joint venture (JV) with energy company Buru Energy Limited (Buru), with Sipa as the operator. The JV holds extensive tenure along the most prospective parts of the Barbwire Terrace. Up to four holes to a nominal depth of 500m each are planned, testing base-metal targets along the southwestern margin of the Fitzroy Trough. These targets are located in an analogous geological position to the Lennard Shelf deposits along the north eastern margin of the Trough; where mineralising fluids have been channelled along major faults into contact with reactive carbonate host rocks. Historic oil and gas, and base metals exploration drilling along the Barbwire Terrace intersected carbonate host rocks containing broad lead-zinc halos, but these results were never followed up. Two potential carbonate host units for base-metal mineralisation are being targeted: Devonian age equivalents of the Pillara Formation, which hosts the highly sought-after base metal deposits of the Lennard Shelf, Ordovician age equivalents of the Nita Formation, which hosts the massive Admiral Bay base- metal deposit to the west. These potential host units have been identified in regional drill programs by previous explorers, including numerous oil and gas wells. The goal of the current drill program is to test for these units in favourable settings for mineralisation, where the prospective stratigraphy is intersected by the regional, basin-bounding, Fenton Fault and its splays. In preparation for the drill program, the JV partners have undertaken a comprehensive review of the available geological, geophysical and seismic data, and completed detailed gravity surveys over specific target areas to finesse drillhole locations. Site preparations were recently completed with assistance from local cultural monitors and the drill program is being supported by the Western Australian Governments' Exploration Incentive Scheme (EIS). Support is also being provided by the JV for a PhD student, based at the University of Queensland, whose research will contribute to the overall hunt for new, high value, base-metal deposits in this little-explored region. Duyuru • Jul 26
Sipa Resources Limited Appoints Rick Yeates to Board as Non-Executive Director, Effective August 1, 2022 Sipa Resources Limited Appointed Rick Yeates to the Sipa Board as a Non-Executive Director, effective 1 August 2022. Rick has 41 years' continuous experience as an exploration geologist, mine geologist, mining consultant and company director, variously involved in ASX-listed, unlisted public and private company management, executive mentoring, lecturing, exploration management, feasibility studies, technical audits, independent geologist's reports and technical valuations. Rick has worked in all Australian States and 39 countries on five continents. Rick has also served on the boards of several ASX-listed companies in both executive and non- executive capacities, including Western Areas Limited, Middle Island Resources Limited, Mungana Gold Mines Limited and Atherton Resources Limited, as well as two leading mining industry bodies, AAMEG and Austmine, and the Swick Mining Services Limited R&D Advisory Board. Rick was most recently Non-Executive Director at Western Areas Limited, until the time of its recent takeover by IGO Limited. He was also the Managing Director at Middle Island Resources Limited, and instrumental in the identification and securing of Middle Island's exciting Barkly copper-gold project in the Northern Territory. Prior to this, Rick established and ran the highly regarded geological consultancy group RSG Global for over 20 years, prior to its takeover by Coffey International Limited in 2006. The Company has agreed to issue 800,000 options to Rick, based on a 5-day WVAP at the time of issue. The options will be subject to shareholder approval at a future meeting. Duyuru • Jun 29
Sipa Resources Limited Identified New Lithium Targets for Follow Up Drilling At Skeleton Rocks Sipa Resources Limited advised that it has identified new lithium targets for follow up drilling at Skeleton Rocks, following a further review of results from its 138- hole aircore drill program conducted earlier this year. Sipa Resources Limited advises that it has identified new lithium targets for follow up drilling at Skeleton Rocks, following a further review of results from its 138- hole aircore drill program conducted earlier this year. The elevated lithium, rubidium and caesium values are 4-5 times background levels, and may indicate the presence of nearby lithium-bearing pegmatites. The target areas will be tested via a follow up drill program, post Sipa's ongoing drilling at Paterson North, and planned drilling at Barbwire Terrace and other projects. The planned program will comprise a series of deeper holes angled to the northeast directly under the geochemical anomalies (Figure 2). Skeleton Rocks is strategically located between the Great Eastern Highway and the Mt Holland lithium project currently being developed as part of a joint venture between Wesfarmers and Chilean mining major Sociedad Quimica y Minera de Chile S.A. (SQM). Duyuru • Jun 21
Sipa Resources Limited Announces Drill Program Commences At Paterson North Sipa Resources Limited drill program has now commenced at its Paterson North project, part of a Farm In and Joint Venture Agreement (`Agreement') with Rio Tinto Exploration Pty Limited (`RTX') which Sipa currently manages. The program is expected to run for approximately six weeks, comprising 3-4,000m of RC drilling testing primarily regional targets. It follows an extensive target generation, review and prioritisation program that leveraged the combined expertise of Sipa and RTX. Drilling has commenced slightly ahead of the schedule from the previously announced timeline of late June /early July (see: ASX Announcement April 26 2022). As part of the 2022 exploration program, Sipa and RTX will also be implementing airborne electromagnetics and gradient array IP to obtain additional geophysical data over the project area. Drilling at Paterson North marks the commencement of a busy field season for Sipa, with additional drill programs set to commence in July /August at two other sites within the Company's northern WA project suite. Duyuru • Jun 07
Sipa Resources Limited Provides an Update on Exploration Activities At Its Western Australian Projects Sipa Resources Limited provided an update on exploration activities at its Western Australian projects. The field season for Sipa's northern WA projects is well and truly underway with site preparations and approvals being achieved. A period of semi-continuous drilling will shortly commence across most of projects testing gold and base metals targets. Success at any of these drill programs would have a significant impact on the Company. Preparations continue for the arrival of the drill rig at the Paterson North project, currently subject to a Farm-In and Joint Venture Agreement with Rio Tinto Exploration (RTX). The anticipated commencement date for drilling is now late June. The program will comprise 3-4,000m of RC drilling, testing targets developed in a close collaboration between Sipa and RTX. The drilling campaign will take approximately six weeks to complete. The Barbwire Terrace Project involves a 50/50 joint venture between Sipa and Buru Energy Limited (Buru) with Sipa as the operator. The JV partners plan to drill up to four 500m diamond drill holes testing geophysical and structural targets prospective for Pb/Zn mineralisation along the margin of the Barbwire Terrace. The tracks, drill pads and sumps have just been prepared, with the support of cultural monitoring by local traditional owner groups. The drill rig has been secured and will mobilise to site in mid-July, with an estimated four weeks required to complete the program. Immediately following the completion of the Barbwire Terrace drill program, the contractor will mobilise to Sipa's Wolfe Basin project in the East Kimberley to test prominent geophysical targets in close proximity to copper and lead-zinc anomalism observed in Sipa's 2021 RC drilling program. Additional aircore drill programs are planned at Sipa's Warralong and Murchison projects, following up previous drilling and surface sampling at Warralong, and recent target generation work at Murchison. Duyuru • May 29
Sipa Resources Limited Provides an Update on Exploration Activities At Its Western Australian Projects Sipa Resources Limited provided an update on exploration activities at its Western Australian projects. In early March Sipa completed a 138-hole aircore program across previously untested greenstone units at its 100% owned Skeleton Rocks Project. Final assays have just been received from the remaining 128 holes. No anomalous gold results were returned. Elevated lithium results (greater than 100ppm) were received in several holes; however, these results were obtained within rock types other than pegmatites and further work is required to determine the lithium potential of the project area. Pegmatites have been reported in historic RAB drilling within the area of the currently pending tenement E77/2783, but the samples were not assayed for elements relevant to lithium exploration, and re-drilling of these holes will be considered upon grant of the tenement. On-ground works are currently underway in preparation for drill testing large-scale base metal targets along the margin of the Barbwire Terrace. The Barbwire Terrace Project involves a 50/50 joint venture between Sipa and Buru Energy Limited with Sipa as the operator. The JV partners plan to drill up to 4 ~500m deep diamond drill holes testing geophysical and structural targets prospective for Pb/Zn mineralisation, most likely early in third quarter. Preparations continue for the arrival of the drill rig in late June at the Paterson North project, currently subject to a Farm In and Joint Venture Agreement with Rio Tinto Exploration (RTX). The anticipated commencement date for drilling is late June/early July. Duyuru • Apr 27
Sipa Resources Limited Provides Update on Activities At Its Paterson North Project Sipa Resources Limited provided an update on activities at its Paterson North Project which are being progressed as part of a Farm In and Joint Venture Agreement (`Agreement') with Rio Tinto Exploration Pty Limited ("RTX"). Under the Terms of the Agreement, RTX can earn a 70% interest in the Project by sole funding expenditure of $12 million (being $6 Million to earn 55% and a further $6 million to earn to 70%) and increase its interest to 80% by sole funding to the earlier of a JORC resource of AUD 1 billion of in ground value or the completion of an `Order of Magnitude Study'. Sipa is the current manager of the Paterson North Project. As part of the Agreement, RTX committed to funding 4,000m of drilling. The budget for this was previously approved for the 2022 calendar year and current field season. Planning for this drilling has been progressing well, with refinements to the existing drill targets having recently been completed. The Program of Works approval was recently received and as such, the field camp is being re-established in preparation for the mobilisation of equipment and personnel to site. The drilling contractors have been booked and aircore and RC drilling is anticipated to commence in June or July. The Paterson drilling will be followed by the acquisition of additional geophysical data including airborne electromagnetics and gradient array IP. Duyuru • Apr 21
Sipa Resources Limited Announces New Gold Targets At Murchison Sipa Resources Limited advised it has identified several new drill targets in the northern portion of its Murchison Gold Project in Western Australia after a further review of historic results. The target areas are in close proximity to drill results up to 6.6 g/t Au, in favorable structural and geological settings for mineralisation. Work is underway to achieve the necessary approvals for drill testing to commence. Further information on three of the priority targets is outlined below. Four of the project tenements, E51/2012 - E51/2015 inclusive, were recently granted enabling the necessary approvals for drill testing of all targets to progress. Drilling by Western Mining Corporation Ltd. in 1999 encountered greenstone and granitic rocks with a best assay result of 1m @ 6.6 g/t Au from 34m within a 10m wide zone of elevated gold results (WAMEX Report A059652). The intercept is open to the northeast, and poorly tested to the southwest where a demagnetised zone may represent either alteration or a discrete intrusive unit. The recent grant of Sipa's tenement E51/2012 means this area is now able to be progressed through the approvals process towards drill testing. Additional support for this target has been received via an unsolicited approach from SensOre Limited who highlighted the favorable geological setting identified via its proprietary targeting technique. Drilling completed by Doray Minerals Limited in 2014 intersected 1m @ 5.87 g/t Au from 69m in hole JSAC066 (WAMEX report A109597), coinciding with an E-W trending magnetic feature (interpreted as a late-stage dyke-offset) with no follow-up work. A series of >1 g/t Au intercepts exist to the immediate N-E of this interval forming a coherent mineralised trend. Drilling completed by Doray Minerals Limited in 2014 (WAMEX report A109597) also defined a moderate gold trend from shallow levels downhole . Approximately 3km of strike exists between mineralised intercepts with no drilling completed. Duyuru • Apr 13
Sipa Resources Limited Receives Assay Results from a Broad Spaced (400M X 400M) Soil, Rock Chip and Lag Sampling Program at Warralong Project in the Pilbara Region of Western Australia Sipa Resources Limited announced that it has received assay results from a broad spaced (400m X 400m) soil, rock chip and lag sampling program undertaken in 2021 over a portion of its 100% owned Warralong Project, located in the Pilbara region of Western Australia. The sample results are currently being analysed but have revealed several key areas of interest. The sampling program was designed to validate and refine Sipa's existing targets and potentially identify other targets for future drill testing. Over 1,000 soil, rock chip and lag samples were collected in late 2021 with the results highlighting key target areas for follow up, typically coinciding with major structural breaks observable in Sipa's detailed magnetic imagery. A subsequent helicopter-supported field trip was completed to validate the results and collect additional samples, while also confirming proposed ground access routes for future work. An external review of remote sensing information from Sentinel-2 spectral data shows that a number of these anomalies coincide with the spectral responses which are typical of nearby gold and lithium deposits. One of Sipa's key Warralong tenement applications, E45/5675 is still awaiting grant. This tenement covers a number of the structural and lithological features that underpinned the decision to peg the ground in early 2020. While shown as granites and gneisses on regional Geological Survey of Western Australia maps, Sipa's work indicates that the tenement area has more prospective geology with enhanced potential for mineralisation, including: a prominent gravity feature; outcropping mafic and ultramafic rocks; and complex magnetics. Once this tenement is granted, Sipa will be able to move ahead with the necessary approvals for future drill testing of the current targets. Duyuru • Mar 10
Sipa Resources Limited Completes Its First Aircore Drill Program At Its 100% Owned Skeleton Rocks Project, Located in the Western Australian Goldfields Region Sipa Resources Limited has completed its first aircore drill program at its 100% owned Skeleton Rocks Project, located in the Western Australian Goldfields region, approximately 40km southwest of the gold mining centre of Marvel Loch. The aircore program followed up on first pass auger soil sampling in selected areas. 138 holes for 3,425m of aircore drilling were completed, testing greenstone units prospective for gold, Ni-Cu and lithium mineralisation. Of note was the observation of quartz-sulphide veins and disseminated sulphides in some holes, coincident with copper and nickel anomalism seen in pXRF analysis of auger soils samples (e.g., Figure 2, and ASX: SRI 14 February 2022 and 1 March 2022). The copper anomalism is most likely due to the presence of chalcopyrite - a copper sulphide, occasionally seen in drill chips and in surface float samples nearby. The close correlation of metal anomalism in auger soil samples to veining in a similar style to gold deposits found in the Southern Cross greenstone belt immediately to the east has led Sipa to plan additional auger programs in other prospective areas, commencing in approximately 1 week. Any further anomalism identified in this second auger program will assist in targeting future drill programs. Based on the positive results received to date Sipa has also scheduled additional drilling at Skeleton Rocks in April. Commencement of this drilling will be dependent upon positive results being received from the aircore program assays, and the upcoming auger program. Samples from the recently completed aircore program are already at the laboratory and those from specific areas of interest, including the holes with visible sulphides, have been prioritised. It is now anticipated these results could be returned within 2 weeks. Duyuru • Feb 21
Sipa Resources Limited Announces Tim Kennedy Steps Down as Non-Executive Director, Effective February 28, 2022 Sipa Resources Limited announced that Tim Kennedy will step down, effective from February 28, 2022, from his role as Non-Executive Director at Sipa. Tim, who was previously the Chairman of Sipa and has been on the Company's Board since 2016, has elected to resign from his Non-Executive roles to focus on an executive position at Yandal Resources Limited. Duyuru • Feb 15
Sipa Resources Limited Receives Positive Results from A Recent Auger Soil Sampling Program At Its 100% Owned Skeleton Rocks Project in the Western Australian Goldfields Sipa Resources Limited announced it has received positive results from a recent auger soil sampling program at its 100% owned Skeleton Rocks Project in the Western Australian Goldfields. Drill testing of the key targets will commence at Skeleton Rocks later this week. The auger program was conducted by Sipa in late January, and the results will enable the Company to concentrate its drilling in the most prospective areas. Initial drill targeting was based upon a review and interpretation of the detailed aeromagnetic survey completed by Sipa, which indicated the presence of untested greenstones along a major structure. The interpreted zone of newly identified greenstone is mapped as sub-parallel to the highly mineralised Southern Cross greenstone belt hosting significant gold and lithium deposits, and immediately adjacent to a major structure, the Koolanooka Fault. Portable XRF (pXRF) analysis of the auger samples highlighted zones of elevated copper-nickel- cobalt coincident with greenstones interpreted from detailed aeromagnetics. Auger sampling was used to ensure the samples were collected from a soil horizon as close as possible to bedrock, and below a persistent hardpan that has previously inhibited effective surface sampling in the area. These results provide strong support for the presence of greenstones and/or mafic intrusive lithologies and areas of focus for drill testing. A program of approximately 4,000m of aircore (hammer) drilling will commence this week to sample the basement rocks across the initial target areas, where no previous drilling is known to have occurred. As previously advised, Sipa successfully applied for Exploration Incentive Scheme (EIS) funding for the drill program, and the EIS grant will reduce the direct costs to Sipa of the planned drilling by up to $128,750. Duyuru • Dec 09
Sipa Resources Limited Announces Warralong Exploration Update Sipa Resources Limited announced Warralong Exploration Update. Assay results have been received from the two aircore drill programs completed over parts of Sipa's two granted Warralong tenements. First pass reconnaissance drilling was designed to gather geological information from initial target areas and more broadly to enable an updated geological interpretation of the project area. No significant gold or other metal anomalism observed across the target areas drilled to date, however it is noted that drilling over each area was restricted to a single traverse. Refinement of existing targets and new targets will be generated from the basement interpretation currently in progress. Assay results from soil samples collected over an extensive area not tested by the recent drilling are expected in January. The Company has received assay results from aircore drilling completed in September and October at its 100% owned Warralong project in the Pilbara region of WA. Two wide-spaced reconnaissance style aircore drill programs were completed in September and October over tenements E45/5687 and E45/5740. Traverses of 100m and 200m spaced holes were completed over first round targets associated with splay structures adjacent to the Lalla Rookh Shear, interpreted from the detailed aeromagnetic survey flown by Sipa in late 2020. Bottom of hole samples of fresh bedrock were collected in 291 holes, and assayed to identify potential mineralisation, and assist in building a basement geology interpretation in this area where the underlying geology is completely obscured by shallow sand cover. Duyuru • Sep 21
Sipa Resources Limited announced that it expects to receive AUD 1.4986 million in funding Sipa Resources Limited announced a private placement of 25,400,000 fully ordinary common shares at an issue price of AUD 0.059 per share for gross proceeds of AUD ?1,498,600? on September 21, 2021. The transaction included participation from a number of sophisticated and professional investors including an Australian specialist resources investment fund, with strong support from existing shareholders and directors. The transaction will be made in accordance with the Company’s capacity under ASX Listing Rule 7.1 and Listing Rule 7.1A. The transaction includes the participation of all directors, subject to shareholder approval at the upcoming annual general meeting. The transaction is expected to close on September 22, 2021. Duyuru • Jul 23
Sipa Resources Limited Provides Exploration Activity Update Sipa Resources Limited provided an update on its current activities across the Company's portfolio of Western Australian projects. Sipa's Murchison Project covers approximately 470km2 of prospective greenstone lithologies in close proximity to the mining centre of Meekatharra. The previously advised aircore program on tenement E51/1888 has recently been completed with a total of 3,407m successfully drilled. The Company reported that all of the planned areas were able to be accessed. Samples from the program are at the laboratory with first assay results expected to be received in August. The first two project tenements, E45/5740 and E45/5687, were granted on 15 July, and program of works (PoW) applications were immediately submitted. The Company is currently completing a heritage survey over some of the proposed drill areas, and pending survey outcomes is planning to commence drilling at Warralong in the current quarter, targeting `Hemi-style' intrusion hosted gold, and lithium-tin-tantalum pegmatites. Following the heritage survey completed in June, an extensive gradient array induced polarisation (GAIP) geophysical survey has commenced. The area to be covered by the survey . Results from the GAIP survey will be combined with the other geophysical datasets already collected by Sipa (e.g., 2020 airborne EM survey) to refine existing drill targets and potentially identify new targets prospective for copper- gold mineralisation. Both the Barbwire Terrace project tenements have recently been granted and heritage surveys have been requested from the native title parties as a precursor to ground based gravity surveys. The gravity surveys will assist in refining existing drill targets, with future drilling to be supported by the Exploration Incentive Scheme. In 2020, Sipa completed a drill program at Wolfe Basin that confirmed the presence of all the geological
elements required to form a sediment hosted base-metal deposit, in close proximity to a large transfer fault and surface gossans. To assist in vectoring in on any sulphide accumulations that may lie in close proximity to previous drilling, geological mapping has just been completed and a dipole-dipole IP survey will shortly commence. The goal of the dipole-dipole survey is to provide a cross-sectional view of any electrically chargeable bodies such as sulphide accumulations, and assist in refining the next drill program. A key current target of this proposed drill program is base metal sulphides that may exist down-dip below the weathered zone encountered in the 2020 program. Duyuru • May 18
Sipa Resources Limited Announces Remaining Assay Results Received from Murchison Program Sipa Resources Limited has received the remaining assay results from the recently completed first-pass aircore (AC) drill program undertaken on three tenements forming part of its Murchison Project. The project is located near Meekatharra in Western Australia, where Sipa's 100% owned and Farm In tenure covers ~467 km2. The results reported herein relate to farm-in tenements E51/1709 and E51/1888. On E51/1709, 87 aircore drill holes were completed for 1,875 m. Anomalous copper results (8m @ 0.78% Cu including 4m @ 1.2% Cu from 32-36m) were received in MUAC0091, 40m east of the intercept of 4m @ 0.66% Cu previously reported in hole MUAC0092. Additional assay results received for MUAC0092 indicate that the previously reported intercept from one metre splits lies within a broader intercept of 8m @ 0.28% Cu based on assays of 4m composites reported herein. The original interpretation of an association between the copper mineralisation and narrow quartz veins observed at surface is supported. Minor gold anomalism was also observed in several drillholes in the northwest of the tenement. The Munarra Gully historic gold and copper workings lie immediately to the west of Sipa's anomalous copper intercepts and further work is required to determine the significance of these results. On E51/1888, 2,644m of drilling in 35 holes were completed targeting northeast trending gold and arsenic trends identified in wide-spaced historic drilling completed by Western Mining Corporation and Doray Minerals. Three samples returned anomalous gold values above 0.1ppm Au with the higher value of 0.924 ppm in hole MUAC0128 from 32-36m downhole. The three anomalous results extend the mineralised trend approximately 800m further south. The trend remains open to the south and following further assessment and interpretation, additional drilling in this area may be warranted. Duyuru • May 04
Sipa Resources Limited Announces First Assay Results from Murchison Sipa Resources Limited received the first assay results from the recently completed aircore (AC) drill program at its Murchison Project. The project is located near Meekatharra in Western Australia, where Sipa's 100% owned and Farm In tenure covers approximately 467km 2. To date 146 results have been received from a total of 601 samples submitted for the entire drill program. The results received and reported herein predominantly relate to tenement E51/1936. A total of 1,949m of drilling in 37 holes were completed on E51/1936. Drilling targeted the northeast trending margin of, and potential structure along, a prominent magnetic high associated with a komatiitic basalt. Historic drilling identified anomalous gold results to the south (WAMEX reference A062603) and there are several historic workings of unknown origin visible along the margin of the sub-cropping basalt. During drilling the anticipated stratigraphy was intersected, but there was no evidence of alteration or mineralised lithologies, and no significant assays were returned. Of the 146 samples submitted for assay in this batch 9 samples were from a single hole, MUAC0092, located on E51/1709. Assays for MUAC0092 are anomalous in copper with an intercept of 4m @ 0.66% Cu including 1m @ 1.34% Cu. The intercept is associated with a quartz vein with minor visible chalcopyrite hosted in dolerite. This drill hole was completed within a broader zone of dolerite with numerous narrow quartz veins that commonly show copper oxides and carbonates at surface. The hole is believed to have been at least partially drilled down-dip on one of these quartz veins. While worthy of further detailed investigation, the Company cautions that it is unknown whether the anomalous copper results reflect anything more substantial. Limited widths of alteration (2-5m) were observed in the vicinity and the copper anomalism may not extend beyond the narrow veins observed at surface. Once further assay results are received, the context and significance or otherwise of the copper anomalism in hole MUAC0092 will be able to be fully interpreted and reported. Reported Earnings • Mar 18
First half 2021 earnings released: AU$0.009 loss per share (vs AU$0.011 loss in 1H 2020) First half 2021 results: Net loss: AU$1.53m (loss narrowed 3.1% from 1H 2020). Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Duyuru • Mar 05
Sipa Resources Limited Announces Drilling to Commence At Murchison Gold Project Sipa Resources Limited announced that drilling is scheduled to commence shortly at the Company's recently acquired Murchison Gold Project. The imminent commencement of drilling follows completion of a heritage survey over the Company's gold targets which enables clearing to be completed for drilling access. The ~5,000m aircore (AC) drilling program is designed to test a range of targets across three of the Farm In tenements located within the Murchison Gold Project. Exact timing of commencement is subject to weather impacts due to current rainfall in the district. On E51/1709 known historic drilling is limited to only 30 RAB holes in the entire tenement area and large areas
remain completely untested. Planned drilling in the northwest and west of the tenement is designed to test along strike from the Tontine Prospect and the extensions of the Munarra Gully trend of gold occurrences that trend north-northeast into the tenement. These prospects and trends are marked by anomalous gold and arsenic in soil samples and in costeans where the greenstone units outcrop to the south. The prospects have been the subject of a single line of RAB drilling where the outcrop disappears under cover to the north, and historic soil sampling is believed to have been largely ineffective in this area due to transported cover. To the east on E51/1936, drilling will target the northeast trending margin of, and potential structure along, a prominent magnetic high associated with a komatiitic basalt. Previous drilling identified anomalous gold results to the south and there are several historic workings of unknown origin visible along the margin of the sub-cropping basalt. The bulk of the planned drilling will be undertaken on E51/1888, on the southern extension of the Abbotts Greenstone Belt. The area was explored in the late 1990's by Western Mining Corporation ("WMC") who drilled the central parts of the belt on a very broad spacing: 800m-spaced lines with holes 200 to 400m apart. The western and eastern margins of the belt were not drilled and the upcoming drill program will cover a selection of these areas as well as follow up four WMC holes which returned assays between 0.1 and 1.0 g/t Au. Closer spaced holes will be drilled along this trend. The drill program is anticipated to take 2 weeks to complete and further updates will be provided as it progresses. Successful completion of the program will also will satisfy the minimum joint venture commitment. The information in this report that relates to Exploration Results is based on, and fairly represents, information and supporting documentation compiled by Mr. Pip Darvall, a Member of The Australasian Institute of Mining and Metallurgy and the Australian Institute of Geoscientists. Mr. Darvall is a full-time employee of Sipa Resources Limited, and has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activities being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the `Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Executive Departure • Feb 03
Chief Financial Officer has left the company On the 1st of February, Tara Robson's tenure in the role of Chief Financial Officer ended. As of September 2020, Tara personally held only 258.01k shares (AU$19k worth at the time). A total of 2 executives have left over the last 12 months. Duyuru • Jan 22
Sipa Resources Limited Announces Executive Changes Sipa Resources Limited announced the appointment of Mr. Ben Donovan as Company Secretary, replacing Tara Robson, effective immediately. Mr. Donovan is a member of the Governance Institute of Australia and provides corporate advisory, IPO and consultancy services. Mr. Donovan is currently the company secretary of several ASX listed and public unlisted companies with experience across the resources, agritech, biotech, media and technology industries. He has extensive experience in listing rules compliance and corporate governance, having served as a Senior Adviser at the ASX in Perth for almost three years, where he managed the listing process of close to 100 companies to the ASX. In addition, Mr. Donovan has experience in the capital markets having raised capital and assisted numerous companies on achieving an initial listing on the ASX. Additionally, Mr. Donovan previously worked as a private client adviser at a boutique stock broking group. The Company wishes to confirm that Mr. Donovan is the person responsible for communications between the Company and the ASX. Duyuru • Jan 06
Sipa Resources Limited Receives Final Assay Results from the Recent RC Drill Program At Its 100% Owned Wolfe Basin Project Sipa Resources Limited announce it has just received the final assay results from the recent RC drill program at its 100% owned Wolfe Basin Project, which was completed in October 2020. The Wolfe Basin Project is located in the Kimberley region of Western Australia and has been the subject of only limited field investigations and no drilling prior to this initial program. Drilling tested the prospective stratigraphy and the down-dip projection of outcropping ironstone gossans, as well as a large east-west trending fault as a possible conduit and/or trap for mineralising fluids. A gradient array IP survey completed earlier in 2020 provided support that an anomalous base metal horizon was associated with sulphides at depth. At Wolfe Basin, mapping has defined a prospective horizon more than 80km in length, with anomalous base metals observed in soil sampling for at least 20km. The drill program tested only a small portion of this prospective strike. The anticipated stratigraphy was intersected, with a thick package of dolomites and shales overlying the basal quartz sandstone unit. Based on visual logging the dolomite contained zones up to 30% pyrite and abundant calcite veins confirming that the IP chargeability response was most likely due to sulphide mineralisation. Anomalous base metals were intersected in 8 of the 9 holes drilled and were typically elevated in Pb with an extremely encouraging intercept of 1m @ 2.9% Pb in hole WBC009. Elevated levels of both Cu (up to 0.45% in hole WBC009) and Zn (up to 0.38% in hole WBC001) were also encountered. Significant intercepts have been defined as intervals containing Zn+Cu+Pb>1,000ppm. Mineralisation was identified in several horizons, including at shallow depths, and remains open down dip and along strike in all directions. Further targeting will now be undertaken to determine potential locations for thicker and higher-grade accumulations of sulphides, and the best geophysical techniques to locate these prior to additional drill testing. Duyuru • Dec 25
Sipa Resources Limited Announces Warralong Gold Project Drill Targeting Sipa Resources Limited announced positive outcomes from a recent targeting exercise carried out on the Company's 100% owned Warralong Gold Project in Western Australia. Sipa reported that the drill targeting program is now complete with several target areas identified for follow up in 2021, upon grant of the tenements of interest. Targets identified include: Hemi style - areas of deformed units proximal to a weakly magnetic, subcircular, intrusive body, inferred to indicate potential dilational areas receptive for Au mineralisation; Intrusive related - individual magnetic or non-magnetic intrusive bodies, generally in favourable structural settings (e.g., flexure of a regional fold or along major shear); Structure related - within tightly folded units where an intrusive may also be present or along a shear zone where areas of structural flexure and demagnetisation suggests potential for fluid flow; Shear/Intrusive related - localised areas of increased magnetic response potentially reflecting either magnetite alteration associated with adjacent non-magnetic/weakly magnetic intrusives, or discrete magnetic intrusives. The planned aeromagnetic survey at the Skeleton Rocks Project has been further delayed owing to damage sustained to the contractor's aircraft (at another location) and therefore is now planned for early 2021. The tenements are still awaiting grant and this delay will not affect Sipa's timing for drilling any targets that may be generated from the survey. Duyuru • Nov 09
Sipa Resources Limited Provides Update on Its Ongoing Exploration Activities Across A Number of Its Projects Located in Western Australia Sipa Resources Limited provided an update on its ongoing exploration activities across a number of its projects located in Western Australia. The planned drill program at the Company's wholly owned Wolfe Basin Project was recently completed without incident. A total of nine holes were drilled for 1,545m. Drilling focused on two key targets associated with the strike extensive gossanous ironstone horizon, where a recently completed IP survey highlighted the potential for sulphides to exist at depth: Seven holes tested the stratigraphy and down-dip projection of the ironstone to intersect the horizon beneath the zone of weathering and to build the geological understanding and identify potential trap positions for mineralisation. The anticipated stratigraphy was intersected with a thick package of dolomites and shales overlying the basal quartz sandstone unit. Sections of the dolomite contained up to 30% pyrite based on visual logging, and abundant calcite veins. No other sulphides were observed in drill chips; Two drillholes tested an east-west striking fault that cross-cuts the gossan horizon and is a possible conduit and/or trap for mineralising fluids. Drilling intersected narrow oxidised fault zones with no evidence for significant accumulations of sulphides. Samples are currently on their way to the laboratory in Perth with results expected in December. Analysis of the results will support an assessment of whether further drilling at the existing target area is warranted, and how best to define further targets along the 40km of known prospective stratigraphy. A 1,267 line km, helicopter-borne EM survey was recently completed at the Paterson North Project. This work was completed as part of the current Farm In and Joint Venture Agreement with Rio Tinto Exploration Pty Ltd. Results will be processed and analysed to assist in firming up drill targets for testing in 2021. Aircraft maintenance issues have delayed the commencement of the planned aeromagnetic survey and as such, is now likely to be undertaken in early December. This delay will not affect project progress as the tenements are still awaiting grant. Duyuru • Oct 08
Sipa Resources Limited announced that it has received AUD 0.318966 million in funding from Rio Tinto Exploration Pty Limited On October 8, 2020, Sipa Resources Limited (ASX:SRI) closed the transaction. The company issued 3,189,655 shares for proceeds of AUD 318,966. Duyuru • Sep 24
Sipa Resources Limited Auditor Raises 'Going Concern' Doubt Sipa Resources Limited filed its Annual on Sep 22, 2020 for the period ending Jun 30, 2020. In this report its auditor, PricewaterhouseCoopers LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern. Duyuru • Sep 21
Sipa Resources Limited announced that it has received AUD 2.33 million in funding On September 18, 2020, Sipa Resources Limited (ASX:SRI) closed the transaction. The company issued 32,361,112 shares in the transaction. Duyuru • Aug 04
Sipa Resources Limited announced that it expects to receive AUD 0.25 million in funding from Rio Tinto Exploration Pty Limited Sipa Resources Limited (ASX:SRI) announced a private placement of 2,500,000 fully ordinary common shares at an issue price of AUD 0.10 per share for gross proceeds of AUD 250,000 on August 3, 2020. The transaction included participation from Rio Tinto Exploration Pty Ltd. Duyuru • Jul 30
Sipa Resources Limited (ASX:SRI) acquired Skeleton Rocks Project. Sipa Resources Limited (ASX:SRI) acquired Skeleton Rocks Project on July 27, 2020.
Sipa Resources Limited (ASX:SRI) completed the acquisition of Skeleton Rocks Project on July 27, 2020. 
