Page 1

ASX Announcement Quarterly Activities Report Period Ended 30 September 2021 29 October 2021 KGL RESOURCES Level 5 , 167 Eagle Street Brisbane QLD 4000 Australia kglresources.com.au Feasibility Study of the Jervois Copper Mine Project well progressed during the Quarter • Drilling continues to support the existing Resource • • Optimisation phase well underway Global copper price continues at near record high levels with medium term outlook for strong economic growth and extended copper supply deficit Confirmatory drilling delivers high grade results at Reward and Bellbird deposits : • Increased confidence in resource models - now being updated . • Drill results supporting optimisation work on mine planning . Massive sulphide copper intersected at the periphery of Rockface deposit , unlocking potential for high grade extensions All deposits remain open at depth and highly prospective for additional resources Cash at end of quarter was $ 18.1m , with $ 7.0m expended in the quarter , primarily on resource infill drilling ( $ 4.1m ) , and feasibility study ( $ 1.8m ) KGL Resources Limited | ASX ANNOUNCEMENT 29/10/21 Page 1 of 9