Mineral Resources and Ore Reserves

Consolidated Mineral Resource Statement:  Mt Morgans Gold Operation and Redcliffe Project

Total Mineral Resources Estimate as of 30 June 2022 (after mining depletion)

Mineral Resources 31 December 2019

The total Ore Reserve estimate for Mt Morgans Gold Operation and Redcliffe as of 30 June 2022

Ore Reserves 1 Jan 2020

In relation to Mineral Resources and Ore Reserves, the Company confirms that all material assumptions and technical parameters that underpin the relevant market announcement continue to apply and have not materially changed.

COMPETENT PERSON STATEMENT

MINERAL RESOURCES

The information in this report that relates to Mineral Resources is based on information compiled by Mr Alex Whishaw, a Competent Person who is a member of the Australasian Institute of Mining and Metallurgy. Mr Whishaw is a full-time employee of Dacian Gold Ltd. Mr Whishaw has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken 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 (JORC Code 2012). Mr Whishaw consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Where the company refers to the Mineral Resources in this report (referencing previous releases made to the ASX including Beresford, Allanson, Mt Morgans – Phoenix Ridge, Transvaal, Ramornie, Craic, McKenzie Well, Heffernans, Doublejay, Ganymede, Maxwells, Bindy, Kelly, Redcliffe Deposit and Mesa – Westlode), other than mining depletion, it confirms that it is not aware of any new information or data that materially affects the information included in that announcement and all material assumptions and technical parameters underpinning the Mineral Resource estimate with that announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Persons findings are presented have not materially changed from the original announcement.

ORE RESERVES

The information in this report that relates to Ore Reserves is based on information compiled by Mr Atish Kumar, a Competent Person who is a member of the Australasian Institute of Mining and Metallurgy. Mr Kumar is a full-time employee of Dacian Gold Ltd. Mr Kumar has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken 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 (JORC Code 2012). Mr Kumar consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

All information relating to Mineral Resources and Ore Reserves were prepared and disclosed under the JORC Code 2012.

GOVERNANCE AND INTERNAL CONTROLS STATEMENT

Dacian Gold maintains strong governance and internal controls in respect of its estimates of mineral resources and ore reserves and the estimation process.

Dacian ensures its sampling techniques, data collection, data veracity and the application of the collected data is at a high level of industry standard. Contract RC and diamond drilling with QA/QC controls approved by Dacian are used routinely and all completed holes are subject to downhole gyro surveys and collar coordinates surveyed with DGPS. All drill holes are logged by Dacian geologists. Diamond core is oriented and photographed. Dacian employs field QC procedures, including addition of standards, blanks and duplicates ahead of assaying which is undertaken using industry standards including fire assay at Bureau Veritas laboratories in Kalgoorlie.

Assay data is continually validated and stored in DataShed. Geological models and wireframes are built using careful geological documentation and interpretations, all of which are validated by peer review. Resource estimation is undertaken by independent consultants and reported under JORC 2012. Estimation techniques are industry standard and include block modelling using Ordinary Kriging. Application of other parameters including cut off grades, top cuts and classification are all dependent on the style and nature of mineralisation being assessed.

Ore reserve estimation is overseen by in house mining engineers using third party consultants to complete feasibility studies in mining, metallurgical, geotechnical, environmental and social matters. Results are verified by independent third party ore reserve specialist consultancies.