Macphersons Resources : Boorara RC Drilling Results

The 4,100 metre Reverse Circulation (RC) drilling below 100 metres at Boorara reported significant intercepts including:

• BORC 157 - 23 metres @ 2.02 g/t Au
• BORC 144 - 19 metres @ 1.9 g/t Au
• BORC 128 - 30 metres @ 1.27 g/t Au
• BORC 161 - 19 metres @ 1.43 g/t Au

These results will be included in the ongoing feasibility study and encourage MacPhersons to undertake more drilling.

This drilling program has demonstrated that gold mineralisation continues at depth within the Boorara Gold Project.

Figure 1: Boorara RC Drilling

109 Maritana Street, Kalgoorlie WA 6430, Australia: P O Box 10977 Kalgoorlie WA, Australia

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A 4,100 metre Reverse Circulation (RC) drill program at Boorara commenced on 10th September to:

drill the top of the Northern open pit in order to improve geological understanding of the top 75 metres, intersect the area from 100-130 metres below the surface in both the Southern and Northern gold lodes.

Note that the Boorara Trial Mining has mined the Southern Stockwork part of Boorara with ore being processed at FMR Greenfields Mill (previous ASX announcement 22/09/16).

We are encouraged by the intersections as outlined below and will be including the results in our ongoing Feasibility Study of Boorara.

Significant intersections (> 0.3 g/t) include:

BORC 157 - 114-137m 23 metres @ 2.02 g/t Au BORC 144 - 56-75m 19 metres @ 1.9 g/t Au BORC 128 - 11-20m 9 metres @ 1.55 g/t Au BORC 128 - 23-53m 30 metres @ 1.27 g/t Au BORC 161 - 46-65m 19 metres @ 1.43 g/t Au BORC 156 - 94-110m 16 metres @ 1.36 g/t Au BORC 126a- 62-67m 5 metres @ 4.51 g/t Au BORC 133 - 67-72m 5 metres @ 3.15 g/t Au

Figure 1: Boorara 5660N Cross Section with BORC 157

Figure 2: Boorara RC Drill hole collar plan