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M magnetic resources NL QUARTERLY REPORT for the Quarter Ended 30 September 2021 Magnetic Resources NL ABN 34 121 370 232 ASX Codes : MAU and MAUCA Level 1 HIGHLIGHTS The best and most consistent high - grade thick shallow intersection to date at Lady Julie North are being followed up with 47 RC holes for 5,154m and 79 AC holes for 4,560m . The drilling highlights include : 44A Kings Park Road , West Perth , WA 6005 Hole_ID East MGAZ51 T +61 8 9226 1777 MLJRC406 F +61 8 9321 6571 PO Box 1388 431956 MLJRC404 431955 MLJRC352 431910 North MGAZ51 6823820 From Το Width Gold m m m g / t 116 152 36 4.01 6823842 140 160 20 4.29 6823842 68 104 36 2.31 West Perth WA 6872 MLJRC351 431790 6823842 8 24 16 1.04 Issued Capital : Shares Quoted : - 218,173,490 ordinary shares . 20,418,862 partly paid shares ( $ 0.20 unpaid ) . MLJRC405 431911 6823819 92 120 28 1.22 MLJRC348 431791 6823880 0 25 25 4.38 MLJRC327 431936 MLJRC326 431935 MLJRC319 431810 6823034 4 16 12 1.43 6823072 7 24 17 2.59 6823820 28 40 12 1.72 MLJRC298 431880 6823925 53 84 31 1.55 Options - Unquoted - 3,000,000 options exercisable at $ 0.377 on or MLJRC296 431820 MLJRC295 431823 MLJRC293 431850 MLJRC292 431820 MLJRC342 431800 6823860 52 67 15 3.16 6823860 0 40 40 2.12 6823880 43 74 31 1.54 6823880 43 55 12 5.19 6823925 15 67 52 1.45 MLJRC341 431775 MLJRC162 431835 6823860 6823925 16 53 37 1.01 31 74 41 2.56 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 : $ 5.1m ☐ Dir Directors : George Sakalidis Managing Director Eric Lim Non - Executive Chairman Julien Sanderson Hiang Sian Chan Non - Executive Directors Company Secretary Ben Donovan The width of the Lady Julie mineralisation is increasing with a new intersection of 64m at 2.4g / t Au from 88m , which includes 36m at 4.0g / t Au from 116m in MLJRC406 and 20m at 4.3g / t Au from 140m in MHNRC404 on the most eastern edge , expanding the prospective E - W zone to at least 200m . The width is expected to increase as these intersections in MLJRC406 and MLJRC404 are open to the east and down - dip . Further drilling will test this expanded zone over a 300m x 600m area and include testing of the western extremity as well where there is an intersection of 8m at 3.4g / t Au from 44m in MLJRC400 . There are at least 2 separate stacked lodes present in this current drilling area with some thickening up to 64m in MLJRC406 . 1