King River Resources : Quarterly Activities Report

ONLYExploration Update

The gold exploration programme for 2020 commenced in August after delays caused by the Covid 19 pandemic restrictions. Exploration commenced at Tennant Creek(Northern Territory), where KRR has tenements in strategic positions targeting high grade Iron Oxide Copper Gold deposits. In addition, planning and site works commenced at Mount Remarkable(Western Australia), to follow up previous high grade gold

intersections and new regional targets. USEMt Remarkable

KRR plans to complete a 2,500m RC drill programme at the main Mount Remarkable project, where multiple high-grade gold results have been returned including best results of:

• 4m @ 113.29g/t Au including 1m @ 346g/t Au in KMRC78 (refer KRR ASX 4 June 2018)
• 6m @ 60g/t Au including 2.8m @ 108g/t Au in KMDD01(refer KRR ASX 10 September 2018)
• 4m @ 39.78g/t Au including 1m @ 82.7g/t Au in KMRC75 (refer KRR ASX 20 June 2018)
• 4m @ 36.77g/t Au from 7m including 1m @ 70.9g/t Au in KMRC127 (refer KRR ASX 7 August 2018)
• 3m @ 34.8g/t Au including 1m @ 50.5g/t Au in KMRC0077 (refer KRR ASX 4 June 2018)

PERSONALReconnaissance exploration is also planned for KRR's extensive (2,300 km2) regional tenement holding (Figure 1, Table 1).).

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Figure 1: Map showing location of KRR exploration holdings at Mt Remarkable and relevant gold prospects.

ONLYMt Remarkable Main Zone

The 2,500m RC drill programme is planned to target epithermal quartz-adularia veins for high grade gold mineralization. Targets include the Trudi Vein following up a new mineralised zones to the east (KRR ASX 10 January 2020) - Figure 2. Other drill targets include the Jeniffer North Vein the intersection of the Catherine Vein and Grahame Vein under interpreted cover units (Figure 3).

Trudi Offset Area

Figure 2: Long projection, looking north, showing the new mineralised zone intersected 150m east of Trudi Main and the multiple very high-grade gold zones within the Trudi Main Grid Area.

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Figure 3: Mt Remarkable Main Zone, New High Grade gold target where the Catherine Vein intersects with the Grahame vein under interpreted cover units - very similar lithostructural setting to the Trudi deposit.

ONLYMt Remarkable - Regional

Reconnaissance exploration is planned along the prospective Whitewater Volcanic rocks that host the high grade gold mineralisation at Mt Remarkable. This horizon extends for 200km along a NE-SW strike south of the Speewah Dome (Figure 1), and includes the Hunter Project (held by WA Mining Resources, where historic high-grade gold values of up to 50.65g/t Au have been returned from epithermal quartz veins), through KRR's Mt Remarkable Project and continues to the south west hosting the Tunganary and Middle

USEBranch Bore gold prospects within anticlinal fold structures. This prospective trend has been under explored providing excellent opportunity for additional high-grade gold discoveries.

Proposed exploration at Mt Remarkable regional s summarized below:

• Reconnaissance of the Hunter East high grade gold area.
• Reconnaissance of the southern tenement gold prospects including: Tunganary, Middle Branch Bore Lansdowne and Little Gold River.

Tennant Creek

PERSONALKRR commenced exploration in August at its Treasure Creek Project in the Tennant Creek Region around the Tennant Creek, Rover and Kurundi Gold fields. The project comprises 16 tenements (including 2

applications) covering 7,900km2, covering 4 main project areas: Tennant Creek East, Tennant East/Barkley, Rover East and Kurundi (Figure 4, Table 1).

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Figure 4: KRR's Tennant Creek Tenements. Green polygons KRR granted and Blue polygons KRR applications.