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Indiana 22nd October 2021 Resources Limited QUARTERLY ACTIVITIES REPORT Quarter ended 30 September 2021 Indiana Resources Limited ( ASX : IDA ) ( ' Indiana ' or the ' Company ' ) is pleased to provide its Quarterly Activities report for the September Quarter 2021 . During the period activities focused on exploration at the Minos Prospect located within Indiana's 100 % owned 5,090 km² Central Gawler Craton Gold Project in South Australia . The Company's Central Gawler Craton tenements host a collection of advanced to early - stage targets proximal to existing gold mines and major gold discoveries . HIGHLIGHTS Exploration . RC drill programme completed at Minos . • • • 16 holes completed for 2,196m – significant high - grade results include : 21m @ 8.43 g / t Au from 176m in Hole LLRC041 including 1m @ 159 g / t Au from 185m 2m @ 18.4 g / t Au from 162m in Hole LLRC041 including 1m @ 35.6 g / t Au from 163m 23m @ 6.44 g / t Au from 186m in Hole LLRC035 including 1m @ 118 g / t Au from 198m 10m @ 8.83 g / t Au from 39m in Hole LLRC042 including 3m @ 26.03 g / t Au from 40m Assays confirm high - grade mineralisation intersected in previous RC programme - mineralisation remains open along strike and at depth Regional aircore / slimline RC drilling along the Lake Labyrinth Shear Zone completed and a new target was identified Significant anomalies also identified immediately WNW of Minos and between Minos and Ariadne Allocation of up to $ 1,250,000 in Junior Minerals Exploration Incentive ( JMEI ) exploration credits for the 2021/22 income year Planning underway for expanded exploration activities across Indiana's 100 % owned 5,090km² tenement package in South Australia Claim to Arbitration – Tanzania • Full Memorial document lodged with International Centre for Settlement of Investment Disputes Includes Quantum Expert Witness report confirming basis for compensation to the Claimants in the amount of AU $ 127 million Arbitral panel has confirmed the procedural timetable for arbitration - to conclude mid 2023 Corporate • . During the quarter , 115,750,624 Listed Options ( ASX : IDAOA ) were exercised into Fully Paid Ordinary Shares exercisable at $ 0.03 , providing additional funding of $ 3,472,518.72 . A total of 96 % of the 165,442,179 Listed Options were Converted into Fully Paid Ordinary Shares ( 160,187,571 IDAOA ) raising a total of $ 4,805,627.13 during the period 7 July 2020 to 5 August 2021 CAPITAL STRUCTURE 434,446,960 BOARD & MANAGEMENT Aida Tabakovic Shares on Issue A $ 0.06 Share Price $ 3.55M Cash at Bank Bronwyn Barnes Executive Chair Robert ( Bob ) Adam Non - executive Director Felicity Repacholi - Muir Non - executive Director Joint Company Secretary Trevor Harris CFO & Company Secretary Gary Ferris General Manager Exploration CONTACT US +61 ( 8 ) 6241 1870 info@indianaresources.com.au www.indianaresources.com.au Suite 3 , 339 Cambridge St , Wembley WA 6014