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Carnaby September 2021 Quarterly Report The Board of Carnaby Resources Limited ( Carnaby or the Company ) is pleased to provide the following quarterly update and Appendix 5B . September 2021 Quarterly Highlights : STRELLEY GOLD PROJECT – Mallina Basin , Pilbara , WESTERN AUSTRALIA • - Significant high - grade intrusion and shear hosted gold mineralisation intersected along a > 4km long Strelley Gold Corridor ( see ASX release 27 October 2021 ) , results include : О PLRC0051 5m @ 4.83 g / t gold from 110m PLRC0035 ASX Announcement 28 October 2021 Fast Facts Shares on Issue 117.9M Market Cap ( @ 29.5 cents ) $ 34.8M Cash $ 5.6M¹ ' As of 30 September 2021 Board and Management Peter Bowler , Non - Exec Chairman Rob Watkins , Managing Director Greg Barrett , Non - Exec Director & Company Secretary Paul Payne , Non - Exec Director 10m @ 1.62 g / t gold from 115m о PLRC0043 2m @ 5.21 g / t gold from 85m including 1m @ 9.75 g / t gold from 85m Results Pending from 8 RC holes and next phase of a > 5,000m RC follow up drilling program to commence in November 2021 GREATER DUCHESS COPPER GOLD PROJECT - MOUNT ISA , QUEENSLAND Nil Desperandum Prospect • Broad zones of copper - gold mineralisation continue to be intersected ( see ASX releases 13 & 16 August 2021 ) , including : 。 NLRC027 including 。 NLRC029 60m @ 1.0 % copper from 139m 23m @ 1.7 % copper , 0.4g / t gold from 152m 61m @ 0.6 % copper from 47m Lady Fanny and Burke and Wills Prospects • • Government approval received to add the historically relinquished Lady Fanny mining lease areas to Carnaby's EPM14366 ( see ASX release 25 October 2021 ) . > 600m strike of high - grade copper - gold mineralisation . Channel sampling and drill results of ( see ASX release 25 October 2021 ) : 。 Channel - 5m @ 2.7 % copper incl 0.4m @ 14.7 % copper 。 Channel - 1.2m @ 9.0 % copper , 0.9g / t gold 。 Channel - 2m @ 11.4 % Copper , incl 0.9m @ 21.3 % Copper 。 Channel - 0.8m @ 12.8 % copper , 11.1g / t gold 。 BWRC001 - 4m @ 2.3 % copper from 36 m including 1m @ 7.2 % copper , 0.7 g / t gold Cash as at 30 September 2021 of $ 5.6M Company Highlights Proven and highly credentialed management team Tight capital structure and strong cash position Projects near to De Grey's Hemi gold discovery on 442 km² of highly prospective tenure Greater Duchess Copper Gold Project , numerous camp scale IOCG deposits over 323 km² of tenure 100 % ownership of the Tick Hill Gold Project ( granted ML's ) in Qld , historically one of Australia highest grade and most profitable gold mines Past production of 511 koz at 22 g / t gold Indicated and Inferred Mineral Resource of 206,000 t @ 6.72 g / t gold for 44,500 ounces Proven and Probable Ore Reserves of 48,600 t @ 6.53 g / t gold for 10,200 ounces Registered Office 78 Churchill Avenue Subiaco Western Australia 6008 T : +61 8 9320 2320 www.carnabyresources.com.au