Announcement PDF ASX ANNOUNCEMENT Date: 31 October 2016 No. 490/311016 Market Cap A$23.7m (0.03 p/s) SEPTEMBER 2016 QUARTERLY REPORT SUMMARY 1. COMMONWEALTH GOLD-SILVER-BASE METAL PROJECT, N.S.W. (Impact 100%) Issued Capital 788,771,085  Significant discovery in four drill holes at the Silica Hill Prospect.  Mineralisation intersected over an area of 200 metres by 100 metres down to 100 metres below surface and with an average true thickness of about 50 metres.  Grade is increasing at depth and the mineralisation is open in all directions. Peter Unsworth The mineralisation comprises disseminated sulphide, veins and semi-massive sulphide veins and is zoned with an upper silverrich part containing extensive visible silver minerals and a lower gold-rich part with lesser variable amounts of zinc, lead, copper and pathfinder sulphide minerals throughout. Dr Michael Jones   Directors Chairman Managing Director Paul Ingram Non-Executive Director Markus Elsasser The veins commonly contain high to very high grades of gold and in particular silver. For example Hole CMIPT046 returned 30 individual assays of varying widths of between 2 g/t and 24 g/t gold and 12 individual assays with more than 500 g/t silver. Hole CMIPT011 returned two veins with 3,146 g/t silver (0.9 metres thick) and 3,600 g/t silver (0.15 m thick). Non-Executive Director Felicity Gooding Non-Executive Director Bernard Crawford Company Secretary www.impactminerals.com.au Part of Bonanza Grade Silver Vein from Hole CMIPT011 a 26 Richardson Street West Perth Western Australia 6005 t +61 (8) 6454 6666 f +61 (8) 6454 6667 e info@impactminerals.com.au  Key drill intercepts for the four drill holes for the entire mineralised zone are: Drill hole CMIPT046: 74.5 metres at 1.2 g/t gold and 106 g/t silver (2.9 g/t gold equivalent) including: 41.3 metres at 2.0 g/t gold and 176 g/t silver (4.7 g/t gold equivalent) including 16.3 metres at 3.7 g/t gold and 246 g/t silver (7.6 g/t gold equivalent); Drill hole CMIPT043: 68 metres at 0.5 g/t gold and 43 g/t silver (1.3 g/t gold equivalent); including 37 metres at 0.1 g/t gold and 71 g/t silver (2.3 ounces) and 18 m at 1.7 g/t gold and 24 g/t silver from 149 metres. Drill hole CMIPT011: 48.6 metres at 0.5 g/t gold and 137 g/t silver (2.5 g/t gold equivalent); including 23 metres at 1.0 g/t gold and 224 g/t silver (3.6 ounces). Drill hole CMIPT026: 39 metres at 0.3 g/t gold and 16 g/t silver (0.6 g/t gold equivalent).  Examples of the numerous high grade intercepts over individual one metre samples (RC drill holes) or individual veins and zones of veins (diamond drill holes) include: CMIPT046: 1 metre at 12.2 g/t gold and 680 g/t silver including 0.3 metres at 23 g/t gold and 1,110 g/t silver; 1 metre at 5.3 g/t gold and 924 g/t silver; 1.7 metres at 3.8 g/t gold and 1,176 g/t silver; and 0.7 metres at 1.5 g/t gold and 855 g/t silver. CMIPT043: 1 m at 146 g/t silver (5 ounces) and 0.1 g/t gold; 1 m at 525 g/t (17 ounces) silver and 0.1 g/t gold; 1 m at 337 g/t (11 ounces) silver and 0.1 g/t gold; 1 m at 2.3 g/t gold and 64 g/t (2 ounces) silver; 1 m at 6.4 g/t gold and 18 g/t silver (0.5 ounces). CMIPT011: 0.9 metres at 3,146 g/t silver (101 ounces) and 2.4 g/t gold; 2.9 metres at 406 g/t silver (13 ounces) and 0.6 g/t gold which includes a 15 cm vein that returned 3,600 g (116 ounces) of silver and 0.4 g/t gold; 4 metres at 104 g/t (3.4 ounces) silver and 1.5 g/t gold; 1 metre at 4.7 g/t gold and 23 g/t silver.  Follow up drilling to commence as soon as practicable. 2. BROKEN HILL PGM-NI-CU PROJECT, N.S.W. (IMPACT 100%)  Reconnaissance field visit to new exploration licences. 3. MULGA TANK NI-CU-PGE PROJECT, W.A. (IMPACT 100%)  Approximately 2,500 soil samples submitted for multi-element analysis. 4. CORPORATE Cash of $2.3 million at September 30th. 1. COMMONWEALTH GOLD-SILVER-BASE METAL PROJECT (IPT 100%) The Commonwealth Project comprises three 100% owned exploration licences that cover about 315 sq km of the highly prospective Lachlan Fold Belt about 100 km north of Orange in NSW. The belt is host to many major gold-silver-copper mines including the Cadia-Ridgeway deposits that contain at least 25 million ounces of gold and 5 million tonnes of copper (Figure 1). A significant amount of work was completed during the Quarter including the completion of the major drill programme of about 4,200 m of RC and diamond drilling that tested a number of geophysical and geochemical targets at the Commonwealth deposit, as well as at the Welcome Jack, Silica Hill and Doughnut Prospects (Figure 2). Figure 1. Location of the Commonwealth Project within the Lachlan Fold Belt of NSW, home to many significant gold and copper mines. Figure 2. Geology and location of the four priority prospects at the Commonwealth Project: Commonwealth, Silica Hill, Welcome Jack Trend and Doughnut. The Commonwealth Prospect contains the Commonwealth deposit that has two connected parts, Main Shaft and Commonwealth South. 1.1 Significant Discovery at Silica Hill Significant gold and silver mineralisation was discovered during the Quarter at the Silica Hill Prospect. Four drill holes have intersected mineralisation over an area of 200 metres by 100 metres down to a depth of 100 metres below surface and with an average true thickness of about 50 metres (Figures 3, 4 and 5). The zone strikes north east and dips steeply to the south east. Importantly it appears that grade is increasing with depth (Figures 4 and 6). The mineralisation is open in all directions including up-dip and is terminated by a fault suggesting further mineralisation may have been offset. The mineralisation, which comprises disseminated sulphide, veins and semi-massive sulphide veins within the Silica Hill rhyolite, is zoned with an upper silver-rich part containing extensive visible silver minerals in many places and a lower gold-rich part. There are lesser variable amounts of zinc, lead, copper and pathfinder sulphide minerals throughout the mineralised zone. The veins commonly contain high to very high grades of gold and in particular silver. For example Hole CMIPT046 returned 30 individual assays of varying widths of between 2 g/t and 24 g/t gold and 12 individual assays with more than 500 g/t silver (Figure 5). Hole CMIPT011 returned two veins with 3,146 g/t silver (0.9 metres thick) and 3,600 g/t silver (0.15 m thick). Figure 3. Surface geology map showing significant drill intercepts at Silica Hill and Main Shaft. 1.2 Significant Drill Intercepts at Silica Hill The four drill holes that have returned significant intercepts on two sections are: CMIPT046 and CMIPT026 (Figures 3, 4 and 5) and CMIPT043 and CMIPT011 (Figures 3 and 6). Drill hole CMIPT046, drilled beneath Hole CMIPT026, returned high grade gold and very high grade silver over a 41 metre thick intercept within a 74 metre thick zone of gold-silver mineralisation (Figure 4). Key intercepts include: 74.5 metres at 1.2 g/t gold and 106 g/t silver (2.9 g/t gold equivalent) from 61 metres including 41.3 metres at 2.0 g/t gold and 176 g/t silver (4.7 g/t gold equivalent) from 61 metres; which includes 16.3 metres at 3.7 g/t gold and 246 g/t silver (7.6 g/t gold equivalent) from 86 metres. Gold equivalency calculations are based on the following US dollar prices: Gold $1326/oz; silver and $18.82/oz. Figure 4. East-West cross section showing results for Holes CMIPT026 and 046. Figure 5 shows that the intercept in CMIPT046 includes numerous high grade gold and silver intercepts from individual veins and groups of veins (which have been sampled in detail) including: 1 metre at 12.2 g/t gold and 680 g/t silver including 0.3 metres at 23 g/t gold and 1,110 g/t silver; 1 metre at 5.3 g/t gold and 924 g/t silver; 1.7 metres at 3.8 g/t gold and 1,176 g/t silver; and 0.7 metres at 1.5 g/t gold and 855 g/t silver. Figure 5. Detail of gold and silver assays for Hole CMIPT046. Note that the gold grades have been cut off at 10 g/t, and silver grades are at log scale to allow proper visualisation of the grades of up to 10 g/t gold and 1,490 g/t silver. Hole CMIPT026, drilled up dip from Hole CMIPT043, returned 39 metres at 0.3 g/t gold and 16 g/t silver from 5 metres down hole with individual one metre assays up to 1 g/t gold and 32 g/t silver (Figure 4). This part of the hole comprised RC chips and it is not known if the significant grade variation between holes 026 and 043 is a primary feature or secondary weathering (leaching effect). Hole CMIPT011, drilled below CMIPT043, (Figures 3 and 6) returned: 48.6 metres at 0.5 g/t gold and 137 g/t silver (2.5 g/t gold equivalent) from 122 metres. Including which includes: and: which includes 23 metres at 224 g/t silver (3.6 ounces) and 1.0 g/t gold from 147.7 metres 0.9 metres at 3,146 g/t silver (101 ounces) and 2.4 g/t gold from 148.1 metres; 2.9 metres at 406 g/t silver (13 ounces) and 0.6 g/t gold from 157.6 metres a 15 cm vein that returned 3,600 g (116 ounces) of silver and 0.4 g/t gold; and also including: 4 metres at 104 g/t (3.4 ounces) silver and 1.5 g/t gold from 160 metres; and: 1 metre at 4.7 g/t gold and 23 g/t silver from 169.5 metres. Figure 6. East-West cross section showing results for Holes CMIPT043 and 011. Hole CMIPT043, drilled above Hole CMIPT011, (Figures 3 and 6) returned: 68 metres at 0.5 g/t gold and 43 g/t silver (1.3 g/t gold equivalent) from 99 metres; including the upper silver-rich zone of 37 metres at 0.1 g/t gold and 71 g/t silver (2.3 ounces) and the lower gold-rich zone of 18 m at 1.7 g/t gold and 24 g/t silver from 149 metres. Individual results of note in this hole are:  High grade silver intercepts (with gold) in the upper part of the assayed zone: 1 m at 122 g/t (4 ounces) silver and 0.2 g/t gold from 108 metres; 1 m at 146 g/t silver (5 ounces) and 0.1 g/t gold from 118 metres; 2 m at 373 g/t (12 ounces) silver and 0.2 g/t gold from 123 metres including 1 m at 525 g/t (17 ounces) silver and 0.1 g/t gold from 124 metres; and 1 m at 337 g/t (11 ounces) silver and 0.1 g/t gold and from 134 metres.  Significant gold assays in the lower part of zone: 1 m at 2.3 g/t gold and 64 g/t (2 ounces) silver from 153 metres; and 1 m at 6.4 g/t gold and 18 g/t silver (0.5 ounces) from 155 metres. In addition it is evident that there is a large silver “halo” of up to 10 to 15 g/t silver in the Silica Hill rhyolite which extends further outwards over many hundreds of square metres (Figures 3, 4 and 6). It is possible that this may be a “leakage halo” from depth and accordingly the down-dip extension of the mineralisation in Holes CMIPT011 and CMIPT046 are compelling drill targets. Connection between mineralisation at Main Shaft and Silica Hill The style and nature of mineralisation in Hole CMIPT043 is similar to that encountered in the rhyolite unit within the Commonwealth deposit and further demonstrates that the mineralisation at the two prospects is part of one larger system. It is possible that the mineralisation at Silica Hill and Main Shaft may be linked at depth. Areas where the two styles of mineralisation may connect will be priority target areas. A gold-silver-in-soil anomaly extends in a NE direction from Main Shaft to Silica Hill and widens in that direction. This anomaly is open to the north and north-east. This is a further indication that the two areas may be linked and further drilling at depth is required. Very high grade silver values of almost 1 kg/tonne over 1 metre were returned in this drill programme from Hole CMIPT031 at Main Shaft in a 7 metre thick zone of massive sulphide mineralisation that returned: 7 metres at 6.3 g/t gold, 496 g/t silver (15.9 ounces), 7.2% zinc, 2.9% lead and 0.2% copper (17.7 g/t gold equivalent) from 91 metres including 3 metres at 10.6 g/t gold, 571 g/t silver (18.4 ounces), 7.8% zinc, 2.1% lead and 0.2% copper (23.0 g/t gold equivalent) from 92 metres and also including 1 metre at 2.5 g/t gold, 979 g/t silver (31.5 ounces), 8.3% zinc, 4.4% lead and 0.1% copper (21.4 g/t gold equivalent) from 95 metres This intercept is open down dip, beneath the silver-rich intercepts at Silica Hill (Figure 2). Further drilling here will require new drill permits. 1.3 Next Steps A follow up drill programme has been designed for Silica Hill and also for further drilling at depth beneath the Commonwealth deposit. Environmental permits will now be lodged with approvals for new drill pads expected within 30 days. Drilling will re-commence as soon as is practicable. 1.4 Investment by Squadron Resources Pty Limited The Commonwealth gold-silver-zinc-lead project and also Impact’s Broken Hill platinum-copper-nickel project are part of the investment agreement between Impact Minerals and Squadron Resources Pty Ltd, part of the Minderoo Group which represents the philanthropic and business interests of Andrew and Nicola Forrest (see announcement 17 July 2015). As part of the investment agreement Squadron can at its sole discretion, invest a further A$1 million into either or both of the projects to earn a 19.9% interest after Impact has spent a combined total of $2.5 million on them from a total of $3 million of exploration funds provided. Impact has now met the $2.5 million expenditure target and in accordance with the agreement Squadron now has 90 days from 2nd September 2016 to make its investment decision. 2. BROKEN HILL PGM-Ni-Cu PROJECT (Impact 100%) Work completed during the Quarter comprised a field visit to the western part of the project area to check possible copper-anomalous areas identified in regional maps prepared by the Geological Survey of New South Wales. A total of 68 rock chip samples were taken. The Broken Hill Project comprises two granted exploration licences (EL7390 and EL8234) and two exploration licence applications (ELA5793 and ELA5265) that cover 517 square kilometres of rocks prospective for two distinct styles of mineralistion (Figure 8). 1. PGE-copper-nickel associated with ultramafic rocks; and 2. Zinc-lead-silver in “Broken Hill-style” deposits hosted mostly by metasedimentary rocks and amphibolites. Impact owns 100% of three of the licences. The mineral rights for the fourth licence, EL7390, were split in the early 2000’s into the two different styles of mineralisation. Impact recently acquired EL7390 from Golden Cross Resources Limited and this entitles Impact to:  100% of the PGE-copper-nickel mineralisation; and  80% of the zinc-lead-silver Broken Hill-style mineralisation in EL7390 in joint venture with Silver City Minerals Limited (ASX: SCI). Impact will free-carry Silver City’s 20% interest to a Decision to Mine. Golden Cross has a 1% gross production royalty on all metals to which Impact has rights for. Impact, at its election, also has the right to buy back the royalty for $1.5 million at anytime up to a Decision to Mine, or leave the royalty uncapped during any production. The Broken Hill and Commonwealth Projects are both part of the investment agreement between Impact Minerals and Squadron Resources Pty Ltd, part of the Minderoo Group which represents the philanthropic and business interests of Andrew and Nicola Forrest (see announcement 17 July 2015). As part of the investment agreement, Squadron at its sole discretion, can invest a further A$1 million into either or both the Commonwealth and Broken Hill platinum projects, to earn a 19.9% interest after Impact has spent a combined total of $2.5 million on the two projects. At Broken Hill, Squadron Resources Pty Limited only has the right to invest $1 million for a 19.9% interest in the nickel-copper-PGE rights on EL7390 and a 19.9% interest in EL8234. Squadron is not liable for any payment of the royalty to Golden Cross. Impact has now met the $2.5 million expenditure target and in accordance with the agreement Squadron now has 90 days from 2nd September 2016 to make its investment decision. Squadron Resources Pty Limited does not have the right to earn into the Broken Hill style mineralisation on EL7390 and Impact’s licences ELA5793 and ELA5265 are excluded from the Squadron transaction. Figure 8. Impact’s licences in the Broken Hill Project covering 517 square kilometres 3. MULGA TANK (Impact 100%) During the Quarter, about 2,500 soil samples were submitted for analysis by the ionic leach method at ALS Laboratories in Perth with results expected in November. The samples were collected in 2015. The 100% owned Mulga Tank gold and nickel project is located 200 km east of Kalgoorlie (Figure 9). Impact discovered high tenor nickel and copper sulphides at the Mulga Tank Dunite in its maiden drill programme in 2013 (see announcement 29 January 2014). Three styles of nickel-copper mineralisation were identified: 1. Extensive disseminated nickel in the Mulga Tank Dunite with assays of: 2 m at 1.3% nickel including 1 m at 2% nickel and multiple 0.5 m thick zones of 0.5% to 1.2% nickel within an intercept of 115 m at 0.3% nickel; Other thick intercepts including 21 m at 0.4% nickel and 59 m at 0.3% nickel. 2. High tenor veins at the base of the Mulga Tank Dunite with assays of: 0.25 m at 3.8% nickel, 0.7% copper and 0.7 g/t PGE and 0.3 m at 0.7% nickel; and 3. High tenor nickel sulphide in multiple komatiites in a flow channel in the upper part of the dunite with assays of: 0.75 m at 0.85% nickel, 0.35% copper and 0.28 g/t PGE (Pt+Pd+Au); and 6.7 m at 0.5% nickel. The style of mineralisation and the nature of the rocks are similar to those that host the significant nickel deposits at Perseverance (1 Mt of contained nickel) and Mt Keith (>2 Mt of contained nickel) near Leinster in WA (Figure 9). In addition the project area occurs in the same geological terrain as the recently discovered Gruyere deposit of more than 5 million ounces of gold (Figure 9). The Mulga Tank project has been poorly explored for gold and this will also be a focus of the forward programme. In 2015 Impact completed an airborne magnetic and radiometric survey over the entire project area, an innovative combined airborne and ground electrical survey as well as a large soil geochemistry survey over key target areas. On receipt of the new soil geochemistry results all of this new data will be used to identify specific targets for drilling. Impact was recently awarded a grant of $150,000 to drill its targets at the Mulga Tank Dunite as part of the WA State Governments Exploration Incentive Scheme. Figure 9. Location of the Mulga Tank Project and significant nickel sulphide mines and prospects including Perseverance and Rocky’s Reward and with new nickel-copper-PGE discoveries in the emerging nickel-copper province to the east. 4. CORPORATE The cash balance at the end of the Quarter was $2.3 million. Dr Michael G Jones Managing Director The review of exploration activities and results contained in this report is based on information compiled by Dr Mike Jones, a Member of the Australian Institute of Geoscientists. He is a director of the company and works for Impact Minerals Limited. He has sufficient experience which is relevant to the style of mineralisation and types of deposits 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 (the JORC Code). Mike Jones has consented to the inclusion in the report of the matters based on his information in the form and context in which it appears. The information in this report which relates to Mineral Resources is based upon information compiled by Ian Glacken, who is a Fellow of the Australasian Institute of Mining and Metallurgy. Ian Glacken is an employee of Optiro Pty 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 Reposting of Exploration Results, Mineral resources and Ore Reserves. Ian Glacken consents to the the inclusion in the release of a summary based upon his information in the form and context in which it appears. BROKEN HILL APPENDIX 1 - SECTION 1 SAMPLING TECHNIQUES AND DATA Criteria JORC Code explanation Sampling techniques Drilling techniques Drill sample recovery Commentary Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. Rock Chip Samples Random rock samples were taken at surface which represented favourable geology and alteration to known mineralisation in the region. Samples are variably weathered. Soil Samples Soil samples were taken at 50 m intervals from a hole 15-20 deep and sieved to -2mm to collect about 250 g of material. Diamond Drilling Diamond drilling was used to produce drill core either with a diameter of 63.5 mm (HQ) or 47.6 mm (NQ). A handheld XRF instrument was used to analyse the drill core at 50 cm intervals. Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used Rock Chip Samples Representative rock chip samples at each sample site weigh between 0.8 and 1.2 kg. Soil samples are taken at a consistent depth below surface and sieved. Soil Samples and Drill Samples Sample representivity was ensured by a combination of Company Procedures regarding quality control (QC) and quality assurance / testing (QA). Examples of QC include (but are not limited to), daily workplace and equipment inspections, as well as drilling and sampling procedures. Examples of QA include (but are not limited to) collection of “field duplicates”, the use of certified standards and blank samples approximately every 50 samples. Aspects of the determination of mineralisation that are Material to the Public Report. In cases 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 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information Rock Chip and Diamond Drill Samples Rock samples and split diamond core were sent to Intertek Adelaide where they were crushed, dried and pulverised (total prep) to produce a 25-30 g sub-sample for analysis by four acid digest with an ICP/AES finish for ore grade base metal samples and either lead collection or nickel sulphide fire assay with AAS or MS finish for gold and the PGMs. Weathered samples contained gossanous sulphide material. Soil samples were sent to SGS Perth for analysis by the MMI digest. The XRF data is qualitative only. A comparison between the XRF results and wet chemical assay data will be completed on receipt of final results. 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, face-sampling bit or other type, whether core is oriented and if so, by what method, etc). Diamond Drilling comprises NQ (47.6 mm diameter) and HQ (63.5 mm diameter) sized core. Impact diamond core is triple tube and is oriented. Historical diamond core was not oriented. Method of recording and assessing core and chip sample recoveries and results assessed Diamond core recoveries for all holes are logged and recorded. Recoveries are estimated to be approximately >97% for the Red Hill Prospect. No significant core loss or sample recovery problems are observed in the drill core. Measures taken to maximise sample recovery and ensure representative nature of the samples Diamond core is reconstructed into continuous runs on an angle iron cradle for orientation marking. Depths are checked against the depth given on the core blocks and rod counts are routinely carried out by the driller. Criteria JORC Code explanation 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. Logging Commentary No sample bias has been established. Geological logging of samples followed company and industry common practice. Qualitative logging of samples included (but not limited to); lithology, mineralogy, alteration, veining and weathering. Diamond core logging included additional fields such as structure and geotechnical parameters. 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. Magnetic Susceptibility measurements were taken for each 0.5 m diamond core interval. For diamond core, information on structure type, dip, dip direction, texture, shape and fill material has been recorded in the logs. RQD data has been recorded on selected diamond holes. Handheld XRF analysis was completed at 50 cm intervals on diamond core. Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. All logging is quantitative, based on visual field estimates. Systematic photography of the diamond core in the wet and dry form was completed. All diamond drill holes were logged in full. The total length and percentage of the relevant intersections logged Sub-sampling techniques and sample preparation Quality of assay data and laboratory tests Detailed diamond core logging, with digital capture was conducted for 100% of the core by Impact’s on-site geologist. If core, whether cut or sawn and whether quarter, half or all core taken. All core samples were sampled by half core. Selected intervals of quarter core will be selected for check assays if required. If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. No RC drilling results are reported. For all sample types, the nature, quality and appropriateness of the sample preparation technique. Company procedures were followed to ensure sub-sampling adequacy and consistency. These included (but were not limited to) daily work place inspections of sampling equipment and practices, as well as sub-sample duplicates (“field duplicates”). Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. Laboratory QC procedures for rock sample and diamond drill core assays involve the use of internal certified reference material as assay standards, along with blanks, duplicates and replicates. 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. Rock and Soil Samples Field duplicates were taken at selected sample sites. Whether sample sizes are appropriate to the grain size of the material being sampled. Diamond Core Samples Quarter core duplicate samples are taken randomly every 50 samples. Sample sizes at Red Hill are considered adequate due to mineralisation style. The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. An industry standard fire assay technique for samples using lead collection with an Atomic Absorption Spectrometry (AAS) finish was used for gold and aqua regia digest for base metals and silver. For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. No geophysical tools were used to determine material element concentrations. A handheld XRF was used for qualitative analysis only. Criteria Verification of sampling and assaying Location of data points JORC Code explanation Commentary Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established. Rock Chip Samples For the rock chips, quality control procedures for assays were followed via internal laboratory protocols. Accuracy and precision are within acceptable limits. Diamond Drill Samples Reference standards and blanks are routinely inserted into every batch of samples at a rate of 1 in every 50 samples. The verification of significant intersections by either independent or alternative company personnel. The results have not been verified by independent or alternative companies. This is not required at this stage of exploration. The use of twinned holes. No drilling results are reported. Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Primary assay data for rock chips has been entered into standard Excel templates for plotting in Mapinfo. All historical drill data has been entered digitally by previous explorers and verified internally by Impact. Discuss any adjustment to assay data. There are no adjustments to the assay data. Accuracy and quality of surveys used to locate drillholes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. Sample locations and drill holes were located by hand held GPS. Specification of the grid system used. The grid system for Broken Hill is MGA_GDA94, Zone 54. Quality and adequacy of topographic control. Standard government topographic maps have been used for topographic validation. For the diamon