Tarcoola Mineral Resources Update (Perseverance Mine)

Updated Global Barton JORC MRE Statement

Further to the updated MRE detailed in this announcement for the Perseverance Mine, Barton's total attributable JORC (2012) Mineral Resource endowment has grown by approximately 1% to a total 1,588koz Au (52.3Mt @ 0.94 g/t Au). Table 3 below provides the full details of Barton's global MRE endowment.

Table 3 - Barton Global JORC MRE Inventory (June 2024)

Mineral Resource Estimation Methodology and Data

The following summary information is provided in accordance with ASX Listing Rule 5.8.1. Further detail is provided in the attached JORC Table 1.

Summary

The Tarcoola Project is located 70 km NNW of Barton Gold's Tunkillia Project in South Australia, and comprises ~1,640km2 of tenements, including the open pit Perseverance Mine at the brownfields Perseverance Deposit. The mine, which operated during 2017 and 2018, is held within Mineral Lease (ML) 6455 located 3 km west of the Tarcoola Rail Siding in South Australia's Gawler Craton. The Tarcoola Project is 100% owned by Tunkillia 2 Pty Ltd which is a wholly owned subsidiary of Barton Gold Holdings Limited.

The Tarcoola Project lies within the north-western Gawler Craton, and centred over the historic Tarcoola goldfield where Archaean and Proterozoic rocks form the basement to an extensive cover of Phanerozoic sediments. Gold mineralisation is hosted within the sedimentary Tarcoola Formation and the Paxton Granite, both of Proterozoic age. A suite of later intrusions (Lady Jane Diorite) cut both the sedimentary rocks and the granite.

The resource is reported above a depth of 25 m RL and above a 0.5 g/t gold cut off. 25 m RL is approximately 125 m below the surface and 60 m below the pit floor.

Mineral Resources are not Ore Reserves and do not have demonstrated economic viability. Inferred Resources have less geological confidence than Indicated Resources and should not have modifying factors applied to them. It is reasonable to expect that with further exploration most of the Inferred Resources could be upgraded to Indicated Resources.

Geology and geological interpretation

The Tarcoola Project lies within the north-western Gawler Craton, centred over the historic Tarcoola Goldfield, where Archaean and Proterozoic rocks form the basement to an extensive cover of Phanerozoic sediments. The Archaean basement has been extensively deformed, whereas the Proterozoic rocks have been weakly to moderately deformed.

At the Perseverance Deposit, gold mineralisation is controlled by a sub-vertical NE-NNE trending fault zone within the sedimentary rocks of the Tarcoola Formation and the Paxton Granite, both of Proterozoic age. A suite of later intrusions (Lady Jane Diorite) cut both the sedimentary rocks and the granite. These high level mafic intrusives are associated with the 1590 Ma Hiltaba Magmatic Event, and are considered to control the spatial setting of both gold and base metal mineralisation.

Gold has locally been remobilised and enriched in the weathering profile. The base of complete oxidation occurs typically 10-40 m below surface, and the base of partial oxidation occurs at a depth of 20-60 m.

Within the primary zone, sericite-quartz-pyrite alteration zones are spatially associated with the mineralisation and overprint earlier hematite-magnetite alteration. An outer halo of chlorite (+/- leucoxene and pyrite) is developed. Pyrite, galena and sphalerite are the main associated sulphide minerals, with subordinate amounts of chalcopyrite, bornite and/or arsenopyrite noted.

Veins can be discrete or form wider stockwork zones and are surrounded by broader quartz-sericite alteration envelopes, which can host haloes of lower grade background mineralisation. Dispersed supergene mineralisation in the oxide zone can be largely detached from veining.

The Perseverance Deposit extends over approximately 500 m from the Southwall Fault to include Last Resource north of the White Hope Fault. Mineralisation has been identified south of Southwall Fault but is not considered in this mineral resource estimate.

Drilling techniques

A total of 694 RC and diamond drill holes for 77,250 m have been drilled within the area defined by the Tarcoola mineral resource. 694 of these holes are RC (45,468 m), with 50 holes (7,386 m) being either diamond or pre-collared diamond and 986 short RC grade control holes (24,395 m). Barton Gold's drilling since 2020 comprises 4,239 m of RC drilling (42 holes). The Barton Gold RC drilling was undertaken by Egan Drilling using a track mounted Sandvik 400 series with an on-board compressor and an auxiliary booster to provide approximately 2000 cfm ay 1000psi. The drill rig utilised a down hole hammer with a 5 ¾" face sampling bit.

Drill holes across the deposit are spaced at nominal 40 m x 40 m centres, with the mined-out areas drilled with grade control drilling on 5 m centres. Drill programmes are orientated perpendicular to strike and on east-west sections, although some grade control holes are drilled on north-south sections. Pierce points below the pit are commonly on 40 m sections.

The locations of historical drill holes have been verified by Barton Gold with both surface drill collar pick-ups and by validation of existing mineralisation with recent infill drilling.

Sampling and sub-sampling techniques

RC drilling by Barton Gold utilised a 5 ¾" face-sampling hammer, with a rig-mounted cone splitter attached to the cyclone providing one-metre sample intervals. Field duplicates were collected at a ratio of 1:30.

Sample analysis

Two to four kilogram RC splits and half-drill core were sent to Bureau Veritas in Adelaide for preparation and analysis using 40 g fire assay techniques for gold. Bureau Veritas' FA1 method uses a 40 g lead collection fire assay with AAS finish to a 0.01 ppm detection limit. Samples from an earlier phase of Barton Gold drilling were sent to Intertek Genalysis in Adelaide for preparation and analysis using 50 g fire assay techniques for gold and ICPOES/MS for multielement geochemistry.

A variety of analytical techniques and laboratories have been utilised over the course of the project's history and are considered suitable for resource estimation purposes.

QAQC

Barton Gold inserted certified reference materials (CRM's) supplied by OREAS into the sampling sequence every 50 samples. CRM's were selected on the basis of gold levels relevant to the deposit being drilled. Barton Gold's overall QAQC protocols utilised CRM's, field duplicates and certified coarse blanks inserted at an overall ratio of 1:44 routine drill hole samples for the RC drill program.

Based on the results of Barton's QA/QC analysis, in addition to the internal QA/QC standards, repeats and blanks run by the laboratory, the laboratory was deemed to provide an acceptable level of accuracy and precision.

Estimation methodology

The geological interpretations are based on pit mapping and drill hole data. Drill core and RC chip logging has been used to define the main geological units and weathering profile boundaries.

Mineralisation above the base of weathering is assumed to be affected by supergene or weathering effects and is interpreted as having been dominantly mined out. Eleven fresh rock mineralised structures were interpreted, based on continuity of grade at a lower cut-off of 0.8 g/t Au at the Perseverance Deposit. Three mineralised structures were orientated along the Perseverance Fault and seven were interpreted to strike N-NNW. Structures were grouped into geostatistical domains based on grade similarities and structural orientation.

Several small mafic dykes (Lady Jane Diorites) cross-cut the deposit. The northwest and northeast trending dykes appear to control narrow mineralised zones along the contacts. Due to their small volume and associated mineralisation the Lady Jane Diorites were not depleted from the mineral resource estimate.

The Mineral Resource statement reported herein is a reasonable representation of the Tarcoola Project's Perseverance Deposit, based on pit exposures and current sampling data. Grade estimation was undertaken using Geovia's Surpac™ software package (v7.7.2). Ordinary Kriging ("OK") was selected for grade estimation.

The block model utilises parent blocks measuring 10 m x 20 m x 5 m with sub-blocking to 0.625 x 2.5 x 1.25 m (XYZ) to better define the volumes. Blocks above topography are flagged as air blocks. Estimation resolution was set at the parent block size.

Informing samples were composited down hole to one metre intervals. Grade capping was applied to outlier composites. Experimental variograms were generated where possible in Supervisor, (no transformations were attempted). For domains where experimental variograms could not be created, the variogram models were orientated along strike and down dip, composite data was viewed in three dimensions to determine if a plunge should be incorporated into the variogram. A two-pass estimation process was employed, with the first pass (60 m search) requiring a minimum of either 4 or 8 composites and a maximum of between 8 and 12 composites depending on the size of the domain. The second pass (120 m search) reduced the minimum composites required by half and the maximum of composites required by four-fifths. Density values are assigned to blocks based on lithology and weathering; the average density of the mineralisation is 2.64 t/m3.

Block model validation consisted of visual checks in plan and section, global comparisons between input and output means and alternative estimation techniques.

Cut-off grades

The Mineral Resource is reported above a 0.5 g/t gold grade and within 125 m of the surface (25 m RL), approximately 60 m below the pit floor. The following assumptions were considered.

Criteria used for classification

The Resource Estimates were classified in accordance with the JORC 2012 code. The Tarcoola resources (Perseverance Deposit) are classified based on data quality, drill density, number of informing samples, kriging efficiency, average distance to informing samples and vein consistency (geological continuity). Geological continuity has been demonstrated at 40 m grid spacing over the entire strike of the deposits. Short range variability has been established with grade control drilling (5 to 10 m spacing) in mined out areas, with grade control drilling extending up to 30 m below the pit floor in the better proportion of the deposit. Areas drilled with at least 20 m sections and including tighter infill drilling may be classified as indicated, predicated on geological confidence. Areas of 40 m x 40 m or greater have been classified as inferred. Areas of limited geological confidence or at a depth beyond a reasonable open pit depth remain unclassified. A Mineral Resource is not an Ore Reserve and does not have demonstrated economic viability.

Mining and metallurgical methods and parameters and other material modifying factors considered to data

Barton Gold foresees mining via open pit and conventional grinding and leach recovery. The Competent Person notes that this is a reasonable assumption but should not be regarded as rigorous at this stage of the project. The current Mineral Resource does not include any dilution or ore loss associated with practical mining constraints. The Tarcoola mineralisation sampled has been shown to be amenable to direct cyanidation for gold extraction. The Perseverance Deposit was processed at the Challenger CIL plant between 2017 and 2018. Metallurgical work (1988, 1998 and 2013) show good recoveries between 95 and 98% on P80 75µ oxidised and fresh material.

Authorised by the Board of Directors of Barton Gold Holdings Limited.

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Competent Persons Statements

The information in this announcement that relates to Exploration Results for the Tarcoola Gold Project (including drilling, sampling, geophysical surveys and geological interpretation) is based upon, and fairly represents, information and supporting documentation compiled by Mr Marc Twining BSc (Hons). Mr Twining is an employee of Barton Gold Holdings Ltd and is a Member of the Australasian Institute of Mining and Metallurgy Geoscientists (AusIMM Member 112811) and has sufficient experience with the style of mineralisation, the deposit type 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" (The JORC Code). Mr Twining consents to the inclusion in this announcement of the matters based upon this information in the form and context in which it appears.

The information in this announcement that relates to the estimate of open pit Mineral Resources for the Tarcoola Gold Project geological interpretation and resource estimates) is based upon, and fairly represents, information and supporting documentation compiled by Mr Ian Taylor BSc (Hons). Mr Taylor is an employee of Mining Associates Pty Ltd and has acted as an independent consultant on Barton Gold's Tarcoola Gold Project, South Australia. Mr Taylor is a Fellow and certified Professional of the Australian Institute of Mining and Metallurgy (FAusIMM (CP Geo) 110090) and has sufficient experience with the style of mineralisation, the deposit type 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" (The JORC Code). Mr Taylor consents to the inclusion in this announcement of the matters based upon this information in the form and context in which it appears.

The information in this announcement that relates to the estimate of stockpile Mineral Resources for the Tarcoola Project is based upon, and fairly represents, information and supporting documentation compiled by Dr Andrew Fowler MAusIMM CP (Geo). Dr Fowler is an employee of Mining Plus Pty Ltd and has acted as an independent consultant on Barton Gold's Tarcoola Project, South Australia. Dr Fowler is a Member of the Australian Institute of Mining and Metallurgy (AusIMM) and has sufficient experience with the style of mineralisation, the deposit type 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" (The JORC Code). The Company confirms it is not aware of any new information or data that materially affects the information included in the relevant market announcement and in the case of estimates of mineral resources all material assumptions and technical parameters underpinning the estimates in the relevant market announcement continue to apply and have not materially changed.