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JORC Disclaimer

The information in this document that relates to Exploration Targets, Exploration Results and Mineral Resources in the Reportare prepared in

accordance with the guidelines of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves JORC Code
(2012 Edition) (JORC Code).

The Mineral Resources for the John Ellis laterite deposit have been compiled by Andrew Weeks who is a Director of 2020 ResourcesPty Ltd and a
Fellow of the Australasian Institute of Mining and Metallurgy. Mr. Weeks has sufficient experience that is relevant to the style of mineralisation
and type of deposit under consideration and to the activity that they have undertaken to qualify as a Competent Person as defined in the JORC
Code. Mr. Weeks has given prior consent to the inclusion in this document of the matters based on their information in the form and context in
which it appears.

The Mineral Resources and Exploration Target for the RAV8 deposit and Stockpile have been compiled under the supervision of Mr. Jeremy Clark
who is a full-time employee of Lily Valley International Pty Ltd and a Registered Member of the Australian Institute of Mining and Metallurgy. Mr.

Clark has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity that they
have undertaken to qualify as a Competent Person as defined in the JORC Code. Mr. Clark consents to the inclusion in this document of the
matters based on their information in the form and context in which it appears.

The Exploration Targets, Exploration Results, and Mineral Resources (excluding the RAV8 and John Ellis laterite deposits) arebased on information
compiled by Mr. David Reid who is a full-time employee of Golder and Fellow of the AusIMM. Mr. Reid has sufficient experience that is relevant to
the style of mineralisation and type of deposit under consideration and to the activity that they have undertaken to qualify as a Competent Person
as defined in the JORC Code. Mr. Reid consents to the inclusion in this document of the matters based on their information inthe form and
context in which it appears.

Exploration Targets have been derived from applying industry standard grade estimation techniques to historical, unvalidated drilling data. The
potential quantity and grade for the Exploration Targets are conceptual in nature. There has been insufficient exploration toestimate a Mineral
Resource and it is uncertain if further exploration will result in the estimation of a Mineral Resource. Please refer to the Company’s Prospectus
dated 23 August 2021 for further information which can be found at the following link: www.nickelsearch.com 3