Announcement PDF : – • New high-grade, shallow tin intercepts from ongoing Reverse Circulation (RC) drilling further enhance the scale and tenor of the Tallebung deposit, with results including: TBRC153: 15m @ 0.68% tin & 77.2g/t silver from 64m, including: 5m @ 1.22% tin & 219g/t silver from 72m. TBRC159: 20m @ 0.41% tin from 8m, including: 8m @ 0.66% tin from 8m. TBRC151: 12m @ 0.56% tin from 58m, including: 4m @ 1.04% tin from 58m. • Results demonstrate the deposit remains open in all directions, while adding new high-grade zones within the existing MRE. • More results will be released over the coming months as the drilling program continues to target shallow extensions and infill the existing Tallebung MRE. • Assay results now received for 45 of the 93 holes completed to date, with a further 60 approved holes remaining to be drilled in the coming month. SKY Managing Director & CEO Oliver Davies commented: “These excellent results provide new, high-grade zones that will continue to grow our Resources at Tallebung, with these intercepts both expanding and improving the Tallebung deposit. They reinforce Tallebung’s credentials as an ultra-low-cost potential source of tin supply thanks to the unique nature of the mineralisation being well-suited to open pit mining and very low-cost processing. “Tin continues to trade at more than three times the copper price, accentuating the high-value nature of the nearsurface tin being delineated in this drilling program. Results will continue to flow over the coming months as the drilling continues, building on the great success the program has already delivered to date.” Sky Metals Ltd (ASX: SKY) (‘SKY’ or the ‘Company’) is pleased to report the third batch of assay results from the large Reverse Circulation (RC) drilling program that commenced in mid-April at its flagship 100%-owned Tallebung Tin Project in central NSW. TALLEBUNG PROJECT (EL 6699, SKY 100%) EXTENSIVE RESOURCE GROWTH-FOCUSED RC DRILLING PROGRAM Assay results for the third batch of samples from ongoing RC drilling at the Tallebung deposit have returned new, high-grade intercepts in the central area of the deposit, while also expanding the deposit to the east and north. The deposit continues to remain open in all directions (see Figure 1). Watch a video summary of this announcement & engage with SKY here SKY METALS LIMITED +61 2 6360 1587 2 HAWTHORN PLACE, ORANGE NSW 2800 WWW.SKYMETALS.COM.AU ABN 46 098 952 035 Figure 1: Plan showing the location of the drill-holes in the latest program, including new assay results, new extensional drill-holes with assays pending, and selected previously reported highlight drill intercepts. The boundary of the existing Tallebung MRE is also shown over surface geology. The latest batch of RC holes (TBRC141-160) were designed to expand the deposit beyond the north-eastern end of the existing MRE and infill areas of known shallow, high-grade mineralisation. Drilling successfully discovered shallow extensions to the deposit well beyond the north-eastern margin of the existing MRE. This demonstrates the deposit remains open and also presents an exciting area to target further mineralised extensions beyond these drill holes to continue to expand the deposit footprint. Infill drilling of the south-central zone of the deposit, south and adjacent to the southern open pit, represents a vital step to increase confidence in the existing MRE. Infill holes have successfully intercepted higher than anticipated grades of tin in this zone, identifying additional shallow, higher-grade mineralisation, which is likely to be targeted in the early stages of a future mining operation to facilitate rapid capital payback. 2 The major drilling program continues to rapidly progress, with 91 holes completed to date. A further approximately 60 holes are approved to be drilled over the coming month, with the overall program of approximately 150 holes to be completed in the next month. Figure 2: Cross-section of TBRC152 and TBRC153 with previous drilling, showing the shallow dipping mineralisation near-surface and mineralised vein packages are projected onto the section. Where no intercepts are shown in the section, the vein packages have been projected from adjacent intercepts. NB: Depth scale on LHS border is metres from surface. The remaining holes are designed to further explore the extensions of the Tallebung deposit as new zones continue to be discovered. Significantly, many of the new zones are located in areas away from historical workings, suggesting that the best parts of the deposit may be yet to be found. Assays are pending for more than 45 completed holes, with approximately 60 holes yet to be drilled. A steady stream of results is expected over the next few months as the drilling programs advance. The Company will continue to provide regular updates as assay results are received. This announcement is authorised for release by the Board of Sky Metals Limited. 3 Investors: Oliver Davies – Managing Director & CEO +61 (0) 430 359 547 Media: Nicholas Read – Read Corporate +61 (0) 419 929 046 JOIN SKY METALS’ INTERACTIVE INVESTOR HUB Visit skymetals.com.au to interact with Sky Metals’ announcements and updates To watch a video summary of this announcement & engage with SKY click here About the Tallebung Tin Project (100% SKY) Tallebung stands as an open-pit, technology enabled, near-term tin development project. Tallebung is uniquely placed to provide secure tin supply, to feed irreplaceable and rapidly expanding tin demand, essential in semiconductors, electronics and solar PV technologies. The Tallebung Tin Project is located at the site of large-scale historical tin mining in central Western NSW where tin was first discovered in the 1890s. SKY is progressively defining a large-scale hardrock tin resource with recent higher-grade tin zones discovered on the margins of the known deposit and exceptional metallurgical performance demonstrated across the entire known deposit. The shallow, open-pit tin veins combined with the ideal nature of the tin, hosted as large, discrete grains of simple tin-oxide (cassiterite minerals), all ideally lends itself to low-cost tin production advantages, including exceptional X-ray based ore sorting performance, demonstrated to upgrade the tin up to 44x, prior to low-cost gravity separation to produce a saleable tin concentrate. Competent Persons Statement The information in this report that relates to Exploration Results is based on information compiled by Mr. Oliver Davies, who is a Member of the Australasian Institute of Geoscientists. Mr. Oliver Davies is an employee and director of Sky Metals Ltd and has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves.’ Mr. Davies consents to the inclusion in this report of the matters based on his information in the form and context in which it appears. Previously Reported Information The information in this report that references previously reported exploration results is extracted from the Company’s ASX market announcements released on the date noted in the body of the text where that reference appears. The previous market announcements are available to view on the Company's website or on the ASX website (www.asx.com.au). The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements. 4 Disclaimer This report contains certain forward-looking statements and forecasts, including possible or assumed reserves and resources, production levels and rates, costs, prices, future performance or potential growth of Sky Metals Ltd, industry growth or other trend projections. Such statements are not a guarantee of future performance and involve unknown risks and uncertainties, as well as other factors which are beyond the control of Sky Metals Ltd. Actual results and developments may differ materially from those expressed or implied by these forward-looking statements depending on a variety of factors. Nothing in this report should be construed as either an offer to sell or a solicitation of an offer to buy or sell securities. This document has been prepared in accordance with the requirements of Australian securities laws, which may differ from the requirements of United States and other country securities laws. Unless otherwise indicated, all ore reserve and mineral resource estimates included or incorporated by reference in this document have been, and will be, prepared in accordance with the JORC classification system of the Australasian Institute of Mining, and Metallurgy and Australian Institute of Geoscientists. Table 1: Drillhole coordinates (MGA94 Zone 55). 249 249 253 252 248 248 249 258 269 Total Depth (m) 120 120 120 120 120 120 120 120 120 Completed Completed Completed Completed Completed Completed Completed Completed Completed -60.97 262.83 120 Completed 285 -60.1 268.11 102 Completed 6376559 286 -59.69 257.64 120 Completed 460705 6376557 287 -60 255.4 120 Completed TBRC154 460881 6376271 291 -60 250.4 102 Completed TBRC155 460888 6376289 290 -60 250.4 102 Completed TBRC156 460905 6376350 291 -60 250.4 102 Completed TBRC157 460720 6376809 275 -60 240.4 120 Completed TBRC158 460707 6376785 275 -60 240.4 120 Completed TBRC159 460709 6376765 275 -60 240.4 120 Completed TBRC160 460703 6376700 276 -60 240.4 120 Completed Hole ID Easting (MGA) Northing (MGA) RL (m) DIP Azimuth (MGA) TBRC141 TBRC142 TBRC143 TBRC144 TBRC145 TBRC146 TBRC147 TBRC148 TBRC149 460548 460684 460761 460318 460349 460429 470601 460640 460675 6377017 6377067 6377072 6377098 6377202 6377253 6376717 6376587 6376586 286 281 279 270 281 280 280 285 285 -60 -60 -60 -60 -61 -60 -61 -60 -60 TBRC150 460726 6376611 285 TBRC151 460687 6376633 TBRC152 460666 TBRC153 5 Comment Table 2: Tallebung Tin Project – Significant Intercepts. Hole ID From To Interval Sn W Ag Cu Zn (m) (m) (m) % % g/t % % TBRC140 42 60 18 0.24 0.02 - - - including 50 54 4 0.6 0.04 18.7 - - 85 87 2 0.11 - - - - TBRC141 20 27 7 0.33 - 11.4 - - TBRC142 1 2 1 0.08 - - - - TBRC144 0 2 2 0.18 0.03 - - - 12 45 33 0.13 0.03 17.8 - - including 12 30 18 0.18 0.03 - - - including 15 16 1 1.74 0.05 - - - and 25 26 1 0.5 - - - - and 41 42 1 0.1 0.19 378 - - 55 57 2 0.11 - - - - 68 69 1 0.1 0.04 - - - 75 76 1 0.12 - - - - 83 84 1 0.1 - - - - 93 94 1 0.29 - 11.2 - - TBRC145 20 26 6 0.26 0.02 - - - including 23 24 1 0.77 0.04 - - - 37 41 4 0.21 - - - - 40 41 1 0.51 - - - - 93 94 1 0.11 - - - - TBRC146 10 15 5 0.24 - - - - including 11 12 1 0.79 - - - - 90 91 1 0.16 - 67.2 - - TBRC147 5 18 13 0.24 0.03 - - - including 8 9 1 1.25 0.07 31.8 0.06 - and 11 12 1 0.97 0.08 11.9 - - 33 34 1 0.16 0.14 - - - 56 57 1 1.02 0.02 - - - 79 89 10 0.12 - - - - 79 81 2 0.36 - - - - 95 96 1 0.16 0.05 - - - TBRC148 2 9 7 0.39 0.03 - - - including 3 5 2 0.78 0.04 11.8 - - 65 66 1 0.11 0.05 - - - 7 8 1 0.39 - - - - 47 60 13 0.22 0.02 17 - - including 47 48 1 0.69 0.13 - - - and 53 54 1 0.52 0.03 55.1 0.07 - 69 73 4 0.24 0.06 - - - 82 83 1 0.11 0.03 - - - 88 89 1 0.13 0.1 34.6 0.06 - 104 105 1 0.11 0.5 - - 1.11 including including TBRC149 6 Comment TBRC150 89 100 11 0.11 0.03 14.7 - - including 89 91 2 0.35 0.08 13.6 - - TBRC151 11 16 5 0.23 0.05 - - - 58 70 12 0.56 0.1 23.8 - - 58 62 4 1.04 0.2 65 - - 76 77 1 0.28 0.05 19.3 - - TBRC152 9 12 3 0.54 0.05 - - - including 10 11 1 1.28 0.07 - - - 25 28 3 0.27 0.05 19.6 - - 39 46 7 0.42 - - - - 41 42 1 1.67 - 10 - - 61 62 1 0.11 0.04 - - - 67 68 1 0.14 - - - - 70 71 1 0.1 - - - - 72 73 1 0.07 0.91 - - - 76 77 1 0.25 0.02 46.9 - - 82 87 5 0.06 0.28 - - - including 82 83 1 0.1 0.94 - - - TBRC153 20 21 1 0.52 - - - - 64 79 15 0.68 0.04 77.2 0.05 - including 65 66 1 1.94 0.02 - - - and 72 77 5 1.22 0.08 219 0.13 - 91 102 11 0.13 - - - - including 99 100 1 0.83 0.02 - - - TBRC154 17 19 2 0.15 - 63.7 - - 26 31 5 0.15 - - - - 37 49 12 0.15 - - - - including 37 40 3 0.46 0.02 - - - TBRC155 24 31 7 0.31 - 23.1 - - including 24 26 2 0.94 - 41.7 - - 50 54 4 0.59 0.02 - - - including 51 52 1 1.92 0.02 - - - TBRC156 32 34 2 0.14 - - - - 40 41 1 0.1 - 59.6 - - 47 48 1 0.24 0.02 10.8 - - 55 58 3 0.11 - - - - TBRC157 30 45 15 0.24 0.03 - - - including 38 42 4 0.65 0.05 15.2 - - 55 68 13 0.16 - 37 - - including 56 57 1 1.11 0.03 56.2 - - and 64 65 1 0.2 - 350 - - including including 77 94 17 0.12 0.02 - - - including 77 78 1 0.41 0.02 13.1 - - and 80 81 1 0.38 0.06 - - - and 85 86 1 0.58 - - - - and 91 94 3 0.18 0.06 32.4 - - 7 Tungsten-rich veining High-grade tin with strong silver Silver-rich veining TBRC158 15 24 9 0.24 including 22 23 1 0.73 31 32 1 0.19 40 66 26 0.16 including 46 54 8 including 49 50 and 53 TBRC159 - - - - - - - 0.02 10.9 - - - - - - 0.36 - 12.5 - - 1 1.05 0.02 - - - 54 1 1.1 0.03 52.7 - - 8 28 20 0.41 0.03 - - - including 8 16 8 0.66 0.05 - - - and 25 26 1 2.49 0.14 11 - - 36 45 9 0.11 0.02 - - - 52 61 9 0.33 - - - - 52 55 3 0.84 0.02 11.9 - - 74 79 5 0.1 - 22.1 - - 88 101 13 0.2 0.06 58 - - including 90 91 1 1.61 0.11 - - - and 99 101 2 - - 359 - - TBRC160 26 27 1 0.27 0.06 - - - 32 33 1 0.9 0.02 - - - 50 59 9 0.21 0.04 - - - 52 53 1 0.82 0.04 - - - 90 95 5 0.11 0.03 - - 0.51 including including - 8 Silver-rich veining JORC CODE, 2012 - TABLE 1 Section 1 Sampling Techniques and Data – TALLEBUNG PROJECT (Criteria in this section apply to all succeeding sections) Criteria Sampling techniques Explanation Commentary • Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry RC Drilling – the total sample (~20-30kg) is delivered via cyclone into a large plastic bag which is retained standard measurement tools appropriate to the minerals under investigation, such as downhole for future use if required. 1m intervals are split using a cone splitter on the rig into a separate calico at the time of drilling. gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. For RC drilling, assay standards or blanks are inserted at least every 50 samples. All sample lab received weights show consistency with recovery and interval length. • Aspects of the determination of mineralisation that are Material to the Public Report. In cases Each sample was dried, crushed and pulverised as per standard industry practice. where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a RC Drilling – the total sample (~20-30kg) is delivered via cyclone into a large plastic bag which is retained 30 g charge for fire assay’). In other cases, more explanation may be required, such as where for future use if required. 1m intervals are split using a cone splitter on the rig into a separate calico at there is coarse gold that has inherent sampling problems. Unusual Commodities or the time of drilling. Where mineralisation has not been logged, 4m Composites have been made by using mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information. a spear to Combine equal amounts of samples from each 1m calico. The primary metal of interest, tin (Sn) and also tungsten (W) were determined by lithium borate fusion XRF (method ALS – ME-MS85) – considered appropriate for these elements. Multielement assaying was Completed for 48 elements by 0.25g four-acid digest with ICPMS determination (method ALS – MEMS61) Reverse circulation (RC) drilling using 110mm rods, 144mm face sampling hammer. Drilling techniques • Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, facesampling bit or other type, whether core is oriented and if so, by what method, etc) Drill sample recovery • • • Method of recording and assessing core and chip sample recoveries and results assessed. RC drilling - high capacity RC rig was used to enable dry samples collected. Drill cyclone is cleaned Measures taken to maximise sample recovery and ensure representative nature of the samples. between rod changes and after each hole to minimise cross-hole contamination. Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material Sample weights are recorded for each sample. Recoveries were generally excellent and consistent, however, if samples were wet the recoveries were less consistent. There is no known relationship between sample recovery and grade. Where samples recoveries are less than 95% there is no relationship observed between grade and sample recovery. Relationships between sample recovery and grade are not considered significant where recoveries exceeded 95% in fresh rock. 9 Criteria Logging • • • Explanation Commentary Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography The total length and percentage of the relevant intersections logged Systematic geological and geotechnical logging was undertaken when the holes were originally drilled. Data collected includes: • Nature and extent of lithologies. • Relationship between lithologies. • Amount and mode of occurrence of ore minerals. • Location, extent, and nature of structures such as bedding, cleavage, veins, faults etc. Structural data (alpha & beta) are recorded for orientated core. Geotechnical data such as recovery, RQD, fracture frequency, qualitative IRS, microfractures, veinlets and number of defect sets. For some geotechnical holes the orientation, nature of defects and defect fill are recorded. Both qualitative and quantitative data is collected. RC chips, half core (HQ) & ¾ core (PQ) samples are retained in trays for future reference. A representative sample of each one metre RC interval is retained in chip trays for future reference. All chips were geologically logged. Sub-sampling techniques and sample preparation • • • • • • If core, whether cut or sawn and whether quarter, half or all core taken If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry For all sample types, the nature, quality and appropriateness of the sample preparation technique Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples Measures taken to ensure that the sampling is representative of the in-situ material collected, including for instance results for field duplicate/second-half sampling. Whether sample sizes are appropriate to the grain size of the material being sampled RC drilling - the total sample (~20-30kg) is delivered via cyclone into a large plastic bag which is retained for future use if required. 1m intervals are split using a cone splitter on the rig into a separate calico at the time of drilling. Where 4m Composites have been made, a spear is used to split equal amounts of each metre into the 4m Composite. Samples were dried crushed and pulverised to 90% passing 75 microns. This is considered to appropriately homogenise the sample to allow subsampling for the various assay techniques. SKY: Certified Reference Material (CRM) and blanks were inserted at least every 50 samples to assess the accuracy and reproducibility of the drill core results. The results of the standards were to be within ±10% variance from known certified result. If greater than 10% variance the standard and up to 10 samples each side were re-assayed. SGS conducted internal check samples every 20 for multielement assay. RC drilling - duplicate samples are collected of re-split intervals. Duplicates generally show excellent repeatability. Sample sizes are industry standard and considered appropriate Quality of assay data and laboratory tests • • • The nature, quality and appropriateness of the assaying and laboratory procedures used and Standard assay procedures performed by a reputable assay lab, (ALS), were undertaken. Forty-eight whether the technique is considered partial or total elements Ag, As, Cu, Fe, Pb, S, Zn are digested by four-acid digest then analysed by ICPMS (method MEFor geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in MS61). determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc Sn and W assays were generated by lithium borate fusion XRF (method ME-MS85) – considered Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external appropriate for these elements. laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established No geophysical tools were used in the determination of assay results. Certified reference material or blanks were inserted at least every 50 samples. Standards are purchased 10 Criteria Explanation Commentary from Certified Reference Material manufacture Companies: Standards were purchased in foil lined packets of between 60g and 100g. Different reference materials were used to cover high grade, medium grade, low grade, and trace ranges of elements, with a primary focus on Sn and Cu. Verification of sampling • and assaying • • • Drill data is Compiled and collated and reviewed by senior staff. External consultants do not routinely The verification of significant intersections by either independent or alternative Company verify exploration data until resource estimation procedures are deemed necessary. The intersection personnel. calculations were viewed by >1 geological personnel. The use of twinned holes. Documentation of primary data, data entry procedures, data verification, data storage (physical Twinned holes have been used by past explorers to validate the results achieved and have confirmed and electronic) protocols. these historic results. Discuss any adjustment to assay data Drill Hole Data including: meta data, any gear left in the drill hole, lithological, mineral, survey, sampling, magnetic susceptibility was collected and stored as physical and electronic copies or entered directly into an excel spread sheet using drop down codes. When Complete the spreadsheet was Combined into a master excel spreadsheet as the drill hole database. Assay data was provided by ALS via .csv spreadsheets. The data was validated using the results received from the known certified reference material. Hard copies of the assay certificates were stored with drill hole data such as drillers plods, invoices, and hole planning documents. Assay data is not adjusted. Location of data points • • • Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. Specification of the grid system used Quality and adequacy of topographic control Historic drill hole collars were located using either a licenced surveyor or on a local imperial or metric grid. Conversion of the local grid co-ordinates has been undertaken by previous exploration Companies. SKY has used DGPS surveying of drillholes (± 0.1m) to accurately locate them. All coordinates are based on Map Grid Australia Zone 55E, Geodetic Datum of Australia 1994. Historic drill hole collars were located using either a licenced surveyor or on a local imperial or metric grid. SKY has used DGPS surveying of drillholes (± 0.1m) to accurately locate them, or handheld GPS (+/3m). Where handheld GPS has been used, SKY will DGPS them at a later date. Data spacing and distribution • • • Data spacing for reporting of Exploration Results At this stage, drilling of the MRE area of the project has been drilled to at least approximately 80m x 80m Data spacing for reporting of Exploration Results Whether the data spacing, and distribution is down to 40m x 40m for inferred and indicated resources respectively. Outside of the MRE are, data sufficient to establish the degree of geological and grade continuity appropriate for the Mineral spacing is variable as the focus is on geological mapping and identifying new zones of mineralisation. Resource and Ore Reserve estimation procedure(s) and classifications applied Whether sample Compositing has been applied The maiden MRE was estimated to inferred and indicated and increases in resource confidence will require tighter spaced drilling, such as some of the drilling completed in this program. Sample Compositing is not applied. Orientation of data in relation to geological structure • • Whether the orientation of sampling achieves unbiased sampling of possible structures and the Drilling was orientated to cross the mineralisation trend at moderate to high angles, perpendicular to extent to which this is known, considering the deposit type mineralisation. The use of orientated core allows estimates of the true width and orientation of the If the relationship between the drilling orientation and the orientation of key mineralised mineralisation to be made accurately. structures is considered to have introduced sampling bias, this should be assessed and reported if material No sample bias due to drilling orientation is known. The structural controls on mineralisation is considered well understood and consistent. 11 Criteria Explanation Commentary Sample security • The measures taken to ensure sample security Sample chain of custody has been managed by the employees of Sky Metals who Commissioned the drilling and transport samples from the drilling rig to assay laboratory. All samples are bagged in tied numbered calico bags, grouped into larger tied polyweave bags, or placed in a stillage box and transported to ALS in Orange by SKY personnel. All sample submissions are documented via ALS tracking system and all assays are reported via email. Sample pulps are returned to site and stored for an appropriate length of time (minimum 3 years). The Company has in place protocols to ensure data security. Audits or reviews • The results of any audits or reviews of sampling techniques and data The Company has external consultants to verify exploration data for the resource estimation process. Further details for the MREs can be found in SKY ASX Announcement 22 Match 2023 and SKY ASX Announcement 23 January 2024. Section 2 Reporting of Exploration Results – TALLEBUNG PROJECT (Criteria listed in the preceding section also apply to this section) Criteria Explanation Mineral tenement and land tenure status Exploration done by other parties Commentary • Type, reference name/number, location and ownership including agreements or material issues The Tallebung Project is described by NSW Exploration Licence 6699 with third parties such as joint ventures, partnerships, overriding royalties, native title interests, The tenement is 100% owned by Stannum Pty Ltd, a 100% owned subsidiary of Big Sky Metals Pty Ltd historical sites, wilderness or national park and environmental settings. and a 100% owned subsidiary of Sky Metals Ltd. The Tallebung tenement is overlain by Native Title Determination Application No NC12/1 (Federal Court No NSD 415/12). A determination of extinguished native title was received over a portion of the Tallebung Tin Field. An agreement between for the remainder of the tenement where Native Title has not been extinguished, an agreement has been reached between Stannum and the Native Title Applicant to allow access to the remainder of the tenement. • The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area Stannum Pty Ltd have previously Commenced a Right to Negotiate Process (RTN) with the claimant group with respect to Application No NC12/1 (Federal Court No NSD 415/12). These negotiations have resulted in a land access agreement to be sign with Stannum Pty Ltd. A determination of extinguished native title was received over a major portion of the Tallebung Tin Field and Stannum has also signed an access agreement with the Native Title Applicant for access to