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M magnetic resources NL QUARTERLY REPORT for the Quarter Ended 30 June 2021 Magnetic Resources NL ABN 34 121 370 232 ASX Codes : MAU and MAUCA Level 1 44A Kings Park Road , West Perth , WA 6005 T +61 8 9226 1777 F +61 8 9321 6571 PO Box 1388 West Perth WA 6872 Issued Capital : Shares Quoted : - 218,173,490 ordinary shares . 20,418,862 partly paid shares ( $ 0.20 unpaid ) . Options - Unquoted - 3,000,000 options exercisable at $ 0.377 on or by 31 December 2021 - 2,450,000 options exercisable at $ 0.218 on or by 31 December 2021 4,900,000 options exercisable at $ 1.515 on or by 31 December 2024 Cash : $ 7.0m Directors : George Sakalidis Managing Director Eric Lim Non - Executive Chairman Julien Sanderson Hiang Sian Chan Non - Executive Directors Company Secretary Ben Donovan HIGHLIGHTS The best and most consistent shallow intersection to date at Lady Julie North with 38m at 3.6g / t gold from 32m including 16m at 5.6g / t from 54m in MLJRC162 . A further 38 holes for 2360m will follow up this promising intersection over the 2km long Lady Julie North 1 target zone and other similar soil geochemical anomalies will be drill tested in this programme . In addition , detailed soil sampling is being carried out directly north of this target over a 1.9km length . Lady Julie North target expanded to 4.6km with acquisition of P38 / 4170 . 1.5km of targets at Lady Julie Central with recent intersection of 4m at 16.66g / t Au from 32m . The best intersection to date at HN5 West includes an impressive 4m at 62.5g / t gold from 52m in MHNRC1015 . A further 7 RC holes for 600m are to be carried out to follow up this very high - grade intersection which is associated with an 250m long anomalous gold soil geochemical zone up to 229ppb . The thickened central zone within HN9 is still open to the NE and more holes are planned heading towards the NE where a thickened seismic target is 1km away . 10 gold targets located over an expanded 14.5km outside the 3km long HN9 mineralised zone . Two areas of significant mineralisation located along previously untested thrust zones are also being followed up . Major mineralised targets HN9 and Lady Julie North appear to straddle two thrusts . A large soil geochemical and shallow RAB geochemical sampling of major 6km thrusts is planned . Access is being sought on four Nickel Copper PGE projects east of the Julimar discovery . 1