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Deleta Joint Venture, Duketon Belt - Yilgarn Block WA

This project is immediately south of the Collurabbie Project and is managed and operated by Regis Resources Limited (Regis). Falcon has a 20% free carried interest to the completion of a bankable feasibility study.

Regis is evaluating the prospective area for gold and nickel. Previous work has identified lateritic nickel mineralisation (best 12m at 1.6% Ni from 48m) and gold mineralisation (best 12m at 3.2g/t Au from 136m) from prospects along the Collurabbie ultramafic trend.


Windanning Hill Joint Venture, Yalgoo Belt – Yilgarn Block WA

This project is located within the Yalgoo-Singleton greenstone belt, 400 km north-north-east of Perth. Falcon retains a diluting equity (currently ~ 21.5%) in two separate joint ventures covering gold and base metals (Minjar Gold) and iron ore (Gindalbie Metals). The project contains a JORC Code-compliant Inferred Resource of 281,000 tonnes at 2.2 g/t gold for 19,900 ounces of contained gold.



Competent Persons Statement

The information in this report to which this statement is attached that relates to Exploration Results, Mineral Resources or Ore Reserves is based on information compiled by Mr Ronald Smit, Managing Director for Falcon Minerals Limited. Mr Smit is a Member of the Australasian Institute of Mining and Metallurgy (AusIMM) and has sufficient experience, which is relevant to the style of mineralisation and type of deposit under consideration and to the activity, which he is undertaking to qualify as a competent person, as defined in the 2004 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Smit consents to the inclusion in the report of the matters based on his information, in the form and context in which it appears.