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SANTANA MINERALS LIMITED QUARTERLY ACTIVITIES REPORT PERIOD ENDING 31 MARCH 2021 NEW ZEALAND OPERATIONAL UPDATE During the quarter the Company was pleased to report encouraging progress from its maiden Reverse Circulation ( RC ) and Diamond Drilling ( DD ) campaigns at its at its 100 % owned Bendigo - Ophir Project ( " the Project " ) . The Bendigo - Ophir Project is located on the South Island of New Zealand within the Central Otago Goldfields approximately 90 kilometres northwest of Oceana Gold's Macraes Gold Mine ( Figure 1 ) . The Project contains a JORC Inferred Resource of 252K ounces gold ( uncut ) , which the Company interprets has the potential to be developed into a low cost per ounce heap leach operation , supplied from a bulk tonnage open pit mine . • Wanaka Queenstown • Cromwell 0 kilometers . SANTANA MINERALS LIMITED 50 BENDIGO - OPHIR PROJECT - Previous Production ~ 300K oz Gold • Alexandra MACRAES MINE - Production 5Moz Gold - Mineral Resources 3Moz Gold Dunedin LEGEND Tenement Boundaries Young Sediments Chlorite Schists ( TZ1-3 ) Biotite Schists ( TZ4 ) Undiff Seds / Volc Figure 1 Bendigo - Ophir Project in the Otago Goldfield , ~ 90km NW of Macraes The Project's existing resources occur across 3 deposits that are inferred to plunge in a northerly direction within the RSSZ ( Figure 2 ) . The Company has embarked on an exploration programme with the immediate objective of increasing the existing resources by drill testing the down plunge extensions of known mineralisation . The RSSZ remains highly prospective both as extensions and beyond the known deposits . The shear zone has been traced over at least 7 kilometres , but outcrop is largely confined to the known prospects with most of the shear zone masked by loess ( glacial wind - blown dust ) and talus deposits . Santana Minerals Limited ABN 37 161 946 989 Level 15 , 344 Queen Street , Brisbane QLD 4000 Tel : +61 7 3221 7501 GPO Box 1305 , Brisbane QLD 4000 Web : www.santanaminerals.com