Page 1

ASX Announcement Quarterly Activities Report For the Quarter Ended 30 September 2021 Genesis Minerals Limited TRANSFORMATIONAL QUARTER FOR GENESIS WITH CONTINUED DRILLING SUCCESS AT ULYSSES AND LANDMARK $ 20.8M STRATEGIC FUNDING PACKAGE Highlights : Ulysses Gold Project , Western Australia ( GML : 100 % ) • Resource in - fill , extensional and exploration drilling delivered further outstanding results during the quarter , highlighting the potential for further growth in the 1.6Moz¹ Mineral Resource . Puzzle Corridor • The exciting new discovery at Puzzle North continues to grow , with results including : 44.15m @ 3.51g / t Au from 58.85m including 10.20m @ 10.64g / t 28.00m @ 1.99g / t Au from 161m 21USDH0184 ○ 21USDH0184 ○ ○ 21USRC1013 21USRC1023 32m @ 1.42g / t Au from 58m including 5m @ 5.14g / t 40m @ 1.34g / t Au from 77m including 8m @ 4.37g / t о 21USRC1038 29m @ 4.26g / t Au from 28m including 4m @ 18.39g / t • An initial test of the southern end of the historic Puzzle pit returned a highly encouraging intercept of 9m @ 5.10g / t Au from 73m in 21USRC989 . Admiral to Butterfly • Significant assay results returned from Resource in - fill and extensional drilling in the Admiral- to - Butterfly corridor . • • • An initial test of the Admiral West prospect returned an outstanding intercept of 2m @ 10.55g / t Au from 103m in 21USRC925 targeting Ulysses - style high - grade gold mineralisation . Re - sampling of hole 21USRC892 at Admiral Deeps ( original composite of 5m @ 60g / t Au ) returned a bonanza intersection of 4m @ 263g / t from 264m including 1m @ 1,049g / t from 265m . Further drilling at Admiral Deeps targeted ~ 150m below the Resource returned strong results : 21USDH0186 12.55m @ 4.22g / t Au from 287.45m including 4.00m @ 11.23g / t 21USDH0187 0.60m @ 41.50g / t Au from 292.7m including 0.30m @ 70.65g / t О о Orient Well • Significant results received from resource upgrade drilling at the southern end of the Orient Well pit including 14m @ 6.60g / t Au from 2m in 21USRC973 including 1m @ 69.10g / t from 8m . Corporate • $ 20.8M strategic funding package announced , led by former Saracen and Northern Star Managing Director , Raleigh Finlayson . • Cash on hand of $ 6.6M at quarter - end . 1 Refer to Table 1 of this announcement for details of the Resource Estimate for the Ulysses Gold Project ASX Release : September 2021 Quarterly Activities Report 1