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STRICKLAND METALS LIMITED Postal & Registered Office +61 ( 2 ) 8316 3991 Suite 8 , 7 The Esplanade Mt Pleasant WA 6153 ACN 109 361 195 info@stricklandmetals.com.au www.stricklandmetals.com.au Quarterly Activities Report June 2021 Highlights : • • Substantial consolidation of the north - east flank of the Yandal Greenstone Belt via : Transformational acquisition of the Millrose Gold Project . Consolidation of Horse Well Project to 100 % Ownership via acquisition of Silver Lake Resources Limited's ( ASX : SLR ) minority 37 % interest in the Horse Well Join Venture . Acquisition of Yandal East Gold Project from Renegade Exploration Limited ( ASX : RNX ) . Major Board and management changes implemented Over AUD17m in new capital injected into the company to fund acquisitions and exploration programs Yandal Gold Project Horse Well Gold Project ( STK 100 % ) During the Quarter , on 5 May 2021 the Company announced that Silver Lake Resources Limited ( " Silver Lake " ) ( ASX : SLR ) had accepted the Company's binding offer for the purchase of its 37 % interest in the Horse Well Joint Venture for total cash consideration of AUD1,750,000 ( " Transaction " ) . On 27 May 2021 , the Company announced that the parties executed a formal sale and purchase agreement in relation to the Transaction , and that all conditions precedent and completion obligations in relation to the Transaction had been satisfied . As a consequence of the Transaction , Strickland became the 100 % owner of the Horse Well tenement package . Millrose Gold Project ( on Completion STK will own 100 % ) On 23 June 2021 , the Company announced it had entered into a binding term sheet ( " Binding Term Sheet " ) with Millrose Gold Mines Limited ACN 126 072 884 and Golden Eagle Mining Pty Ltd ACN 641 411 298 ( collectively , " Vendors ” ) to acquire the Millrose Gold Project ( " Millrose Transaction " ) . The Millrose Gold Project lies adjacent to the Company's Horse Well Project and the soon to be acquired Yandal East Gold Project ( as announced 9 June 2021 ) . The Millrose Gold Project is approximately 600km² in size and lies roughly 30km due east of Northern Star Resources Limited's 10m oz + Jundee operation . This Millrose Transaction transforms Strickland into a significant , emerging Western Australian gold company . The Millrose Transaction completes the Company's plan to consolidate the north - eastern flank of the Yandal Greenstone Belt ( see Figure 1 ) . The acquisition also increases the Company's resource base to over 600,000 ozs Au ( 11.72Mt @ 1.60g / t Au for 603,000 Au ) . Upon completion of the Millrose Transaction ,