ASX Code: ERW & ERWO

only Shares on issue: 45.5 Million

B OARD OF D IRECTORS

A BOUT E RRAWARRA R ESOURCES

Errawarra Resources Ltd is an

exploration company with a focus on

gold and nickel-copper in Western

During the 4th Quarter (April - June 2022):

Goals for the 1st Quarter (July - September 2022):

Errawarra's move to gain exposure to highly prospective known Ni-Cu bearing terrain in the West Pilbara is a step closer following shareholder approval to proceed with the purchase of 80% interest in Western Exploration Pty Ltd the holder of tenement E47/4352. This is a priority project for the company and If exploration is successful, it will be potentially transformative for the Company.

The Andover West Project is located 30km south-east of Karratha and is targeting mafic intrusions hosting nickel-copper mineralisation. Azure Minerals has recently announced a maiden resource of 4.6Mt @ 1.11%Ni, 0.47% Cu and 0.05% Co (ASX Announcement Azure 30 March 2022) on their adjoining tenement. There is a high priority VTEM/FLEM anomaly on the project tenement only 2.8km from Azure's VC-07Ni-Cu discovery. There are also an additional9 conductor targets identified and recommended for testing. The drill testing of these targets is subject to permitting and approvals which the company is actively pursuing.

In addition to Andover West Errawarra Resources Ltd (Errawarra or the Company) also holds its three foundation exploration projects, namely Fraser Range, Errabiddy and Binti Binti, Errawarra will continue to explore and evaluate these nickel and gold focussed projects.

This project is located 30km southeast of Karratha in the Pilbara region and adjoins tenements held by Azure Minerals who are currently undertaking resource drill out and have recently announced a maiden Ni-Cu resources of 4.6Mt @ 1.11% Ni, 0.47% Cu and 0.05% Co (Refer AZS:ASX Announcement 30 March 2022).

Errawarra received approval from shareholders to complete the Andover West transaction with Western Exploration Pty Ltd at a General Meeting held 22 April 2022 (refer ASX announcement 22 April 2022). For details of the terms of the acquisition refer to ASX announcements 23 November 2021 and 23 February 2022. The company announced finalisation of the acquisition of the Andover West project on 2 May 2022. This was achieved by acquiring 80% interest in private company Western Exploration Pty Ltd the holder of tenement application E47/4352.

The execution of a Heritage and Access Agreement is imminent following which the tenement will be progressed through the grant process. In anticipation of the tenement application progressing through to grant the scheduling and implementation of a heritage clearance survey over key drill target areas is being planned.

The tenement adjoins the Azure Minerals Tenement where significant Nickel-Copper mineralisation has been discovered, including the VC-07 discovery which is currently undergoing resource drill out. More recently Azure announced an additional discovery at Ridgeline with nickel grades greater than 3%. At Andover West a priority VTEM/FLEM conductor anomaly has been identified within the Andover mafic intrusion only 2.8km SW of the VC-07 discovery. The West Andover priority target is associated with 2 nearby and possibly associated similar targets. Drill testing of this nickel target is a priority and will be undertaken following heritage clearance and grant of the tenement.

In addition, there are a further 9 untested EM anomalies of varying priority. Several gold occurrences in proximity to Sholl Shear also warrant followed-up.

Figure 2. Location of the Tenement and Priority EM anomalies relative to Azure's VC-07Ni-sulphide discovery

Figure 3. Location of Priority EM Target relative to Azure's Ni-sulphide discoveries

(Adapted from Azure ASX Announcement 30 March 2022)

The initial exploration at the Fraser Range Project began with priority areas identified for testing based on gravity anomalies, magnetic anomalies, geochemical anomalies, and favourable geological units for hosting sulphide mineralisation. Surface EM surveying (MLEM) has now been completed over four priority areas within the project and was aimed at identifying bedrock conductors that may be related to nickel-copper-cobalt sulphide mineralisation. The MLEM component of the EM surveying was completed by early August 2021.

The ground EM surveys to date comprised the use of the Moving Loop Electromagnetic (MLEM-Slingram) survey technique. The MLEM surveys were carried out using a base frequency of 1 Hz with the SMART Fluxgate B-field sensor. The transmitter loop size was 200m x 200m operating at 70 amps into the loop. The line spacing was 400m and station spacing was 100m. The TX centre to RX centre was 300m for the Slingram survey. The configuration for these surveys was designed to emulate the survey parameters that detected the initial MLEM anomaly observed over the Nova- Bollinger nickel sulphide deposit located 30kmto the northeast.No strong anomalous responsesconsideredconsistent with a massive sulphide (Nova-style) source were observed in these initial MLEM surveys however, several weak anomalous responses were observed at early to mid-delay times. These weak anomalous responses are interpreted to be associated with weak AEM (HeliTEM) anomalies and the preliminary interpretation suggests that these weak anomalous responses could be caused by regolith variation and/or the conductive drainage system.

Several of these weak EM anomalies are associated with equally weak historic Cu/Ni soil anomalies and warrant follow- up.Tothisendaheritageclearancesurveyisbeingorganisedtoallow theundertaking ofanaugerassistedsoilsampling program over selected target areas.

Figure 4. MLEM Channel 20 unresolved conductors

Errabiddy - Gold & Nickel-Copper

Adetailedairbornemagnetic(gradiometer)andradiometricsurvey (14,384linekilometres)wascompletedintheperiod 18thMay2021to17thJune2021.Thissurveycoveredthe tenementpackagewiththeexceptionoftenementE31/3838. Flight lines were 100m apart and sensor height was 30m. The final report and data were received from Magspec AirborneSurveyson8thJuly2021.ThesurveydatawasinitiallyinterpretedbyOutlierGeosciencewhoprovidedareport with some broad recommendations for follow-up field checking of selected target areas.

Newexco the independent geological consultants to Errawarra are currently reviewing the Errabiddy project data and will make recommendations on potential nickel focussed explorations programs. Following review of Newexco recommendations on nickel focussed exploration programs a reconnaissance field program may be initiated.

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Errawarra Resources Ltd. published this content on 29 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 July 2022 04:43:01 UTC.