Announcement PDF ANNUAL REPORT ABN: 74 148 214 260 & Controlled Entities 2023 For the year ended 30 June 2023 CORPORATE DIRECTORY PRINCIPAL AND REGISTERED OFFICE Rumble Resources Ltd Level 1, 16 Ord Street West Perth WA 6005 Tel: 08 6555 3980 Fax: 08 6555 3981 Email: info@rumbleresources.com.au Web: www.rumbleresources.com.au STOCK EXCHANGE Australian Securities Exchange Limited Level 40, Central Park 152-158 St Georges Terrace Perth WA 6000 STOCK EXCHANGE CODE – RTR DIRECTORS Shane Sikora Managing Director Matthew Banks Non-Executive Director Michael Smith Non-Executive Director Peter Venn Non-Executive Director Geoff Jones Non-Executive Director (appointed 5 July 2022) COMPANY SECRETARY Steven Wood SHARE REGISTRAR Automic Group Level 5, 191 St Georges Terrace Perth WA 6000 Tel: 1300 288 664 Web: www.automicgroup.com.au AUDITORS Hall Chadwick WA Audit Pty Ltd 283 Rokeby Road Subiaco WA 6008 LAWYERS Hamilton Locke Level 48 152-158 St Georges Terrace Perth WA 6000 Mining Access Legal Level 1, 1 Adelaide Terrace East Perth WA 6004 BANKERS Westpac Banking Corporation Level 13, 109 St Georges Terrace Perth WA 6000 CONTENTS Review of Operations 01 Mineral Resources Statement 16 Schedule of Tenement Interest 19 Directors’ Report 21 Remuneration Report 27 Directors’ Report Declaration 32 Auditor’s Independence Declaration 33 Consolidated Statement of Profit or Loss and Other Comprehensive Income 34 Consolidated Statement of Financial Position 35 Consolidated Statement of Changes in Equity 36 Consolidated Statement of Cash Flows 37 Notes to the Consolidated Financial Statements 38 Directors’ Declaration 60 Independent Audit Report 61 ASX Additional Information 66 Rumble Resources Ltd & Controlled Entities REVIEW OF OPERATIONS REVIEW OF OPERATIONS REVIEW OF OPERATIONS During the year, Rumble’s focus was to rapidly advance the large-scale Earaheedy Zn-Pb-Ag discovery which was made on 19th April 2021 at the Earaheedy Project, 110km north east of Wiluna in Western Australia. Two years to the day on 19th April 2023, Rumble announced a globally significant ‘Pit constrained’ maiden resource estimate at the Earaheedy Project in Western Australia, confirming it as one of the largest zinc sulphide discoveries over the last decade. The strength of the MRE is supported by a relatively flat grade-tonnage curve, with higher grade resources that could be part of a possible early development scenario, and a much larger resource that could potentially be upgraded via beneficiation, providing the project with significant future flexibility. The Project has exceptional near term growth potential with the deposits open in all directions, and less than 35% of the 45km mineralised Navajoh Unconformity Unit (host to the current resources) effectively drill tested. Additionally, none of the thick underlying geologically fertile formations which could host high-grade MVT deposits have yet been tested. The next phase of the Earaheedy project advancement will focus on resource extensions and new high grade discoveries, whilst beneficiation and initial scoping studies will occur in parallel with the extensive exploration campaign. The sheer scale, optionality, location and extraordinary growth potential of Earaheedy could see the Project stamp itself as a world class, multi decade asset which could play a key role in the global renewable energy transition. Corporate Highlights • 14/08/2023 $11.1mil Capital Raising to Advance the Earaheedy Zn-Pb-Ag • 17/07/2023 Zinc Lead Mineralisation Discovered in Drilling • 01/06/2023 High impact drilling commences at the Earaheedy Project • 19/04/2023 Maiden Resource Confirms Earaheedy's World Class Potential • 14/03/2023 Chinook Zn-Pb Prospect expands to 8km strike • 16/02/2023 Multiple New High-Grade Feeder Targets Defined • 12/12/2022 Appointment of CFO – Trevor Hart • 17/11/2022 Exceptional Metallurgical Results at Earaheedy Project • 29/09/2022 New 2.2km high grade Chikamin Feeder Zone extends Chinook As outlined in this report and in previous disclosures, there are a number of risks associated with the Company as it proceeds with its strategy to explore its portfolio of projects, with a priority and focus on advancing the emerging world class Earaheedy base metal discovery. The outlook for the commodities the Company is exploring is strong, with Zinc considered to have a strong future role in renewable energy storage (solar, wind farms & batteries), which is anticipated to result in an increase in demand, coinciding with a fall in supply due to depleted existing mines (refer ASX investor presentation lodged 14th August 2023 – Slide 17 and 18). –1– 1 RUMBLE RESOURCES | ANNUAL REPORT 2023 REVIEW OF OPERATIONS Rumble Resources Ltd & Controlled Entities REVIEW OF OPERATIONS Earaheedy Zn-Pb-Ag Project, Wiluna, Western Australia The emerging, world class Earaheedy Zn-Pb-Ag Project is located 110km northeast of Wiluna, Western Australia. The Project includes tenement E69/3464, which forms the Rumble Resources Ltd 75% / Zenith Minerals Ltd (ASX: ZNC) 25% Joint Venture (“JV”) and E69/3787, E69/3862, ELA 69/4124, ELA69/4149 and ELA 69/4165, which is 100% owned by Rumble (see Image 1). Image 1 – Earaheedy Project – Prospectivity Map - highlighting area of maiden MRE Maiden, pit constrained; Inferred Mineral Resource Estimate (MRE): During the year the Company released the maiden Inferred Mineral Resource Estimate (MRE) for the Earaheedy Zn-PbAg Project. The Resource was reported in accordance with the reporting requirements set out in the 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (the JORC Code) – (refer ASX release 19th April 2023). • 94Mt @ 3.1% Zn+Pb and 4.1g/t Ag (at a 2% Zn+Pb cutoff) constrained within optimised pit shells at Chinook, Tonka and Navajoh deposits • Contained metal of 2.2Mt zinc, 0.6Mt lead and 12.6Moz silver • Represents one of the largest zinc sulphide discoveries globally in the last decade Project Optionality • The pit constrained MRE hosts a 41Mt higher-grade component above a 3% Zn+Pb cut-off grade, and a very large 462Mt component above 0.5% Zn+Pb cut-off grade that has the potential to be upgraded through beneficiation, providing the Earaheedy Project with significant optionality for future development –2– RUMBLE RESOURCES | ANNUAL REPORT 2023 2 REVIEW OF OPERATIONS Rumble Resources Ltd & Controlled Entities REVIEW OF OPERATIONS Cut off Inferred – Chinook Inferred – Tonka and Navajoh Inferred Total Zn+Pb Tonnes Zn+Pb Zn Pb Ag Tonnes Zn+Pb Zn Pb Ag Tonnes Zn+Pb Zn Pb Ag % Mt % % % g/t Mt % % % g/t Mt % % % g/t 0.5 334 1.3 0.9 0.4 2.3 128 1.5 1.2 0.2 1.9 462 1.3 1.0 0.3 2.2 1.0 135 2.1 1.5 0.6 3.4 59 2.3 2.0 0.4 2.6 194 2.2 1.6 0.5 3.1 2.0 63 3.0 2.1 0.8 4.6 31 3.3 2.8 0.5 3.4 94 3.1 2.4 0.7 4.2 2.5 39 3.4 2.4 0.9 5.2 25 3.5 3.0 0.5 3.6 65 3.4 2.6 0.8 4.5 3.0 24 3.8 2.7 1.1 5.7 17 3.9 3.3 0.6 3.8 41 3.8 3.0 0.9 4.9 4.0 7 4.7 3.3 1.5 6.8 5 4.9 4.1 0.8 4.3 12 4.8 3.6 1.2 5.7 Table A: Maiden Inferred Mineral Resource Estimates for the Earaheedy Project. A tabulation of the mineral resources within the optimised pit shells at varying cutoff grades is presented in Table A. Image 2 – Earaheedy Project – Global Zn-Pb Resources Image 2 displays a tonnage-grade plot of global Zn-Pb Resources and highlights the future potential for the Earaheedy base metal system to grow into the Giant and Super Giant deposit categories. Currently 92% of these resources require development via underground mining. Source 911 Metallurgist https://www.911metallurgist.com/blog/SEDEX-sedimentary-exhalative-ore-deposits –3– 3 RUMBLE RESOURCES | ANNUAL REPORT 2023 REVIEW OF OPERATIONS Rumble Resources Ltd & Controlled Entities REVIEW OF OPERATIONS E69/3464 Exploration– RTR 75% / ZNC 25% Chinook Zn-Pb-Ag Prospect During the year: • RC drilling increased the zinc-lead (Zn-Pb) mineralisation envelope to 8km strike x 2km down dip length that remains open in all directions • RC drilling identified multiple feeder structures hosting large higher-grade (>5% & >8%) Zn-Pb domains up to 2km long • Maiden pit constrained Mineral Resource Estimate was announced in April 2023. Image 3 displays the boundary to the wireframed Chinook resource model, whilst Image 4 displays an optimised pit for the Chinook deposit. Image 3 – Chinook Deposit – drill hole location plan highlighting the high grade Kalitan and Chikamin Feeder Zones, maximum Zn+Pb contouring + boundary to wireframed model. Image 4 – Chinook NW view of optimised pits with Block Model Centroids @ >1.5%Zn+Pb COG –4– RUMBLE RESOURCES | ANNUAL REPORT 2023 4 REVIEW OF OPERATIONS Rumble Resources Ltd & Controlled Entities REVIEW OF OPERATIONS Tonka and Navajoh Zn-Pb-Ag Prospects During the year: • RC drilling increased the zinc-lead (Zn-Pb) mineralisation envelope to 11km strike x 2km down dip length that remains open in all directions • RC Drilling identified multiple east-west feeder structures hosting large higher-grade (>5% & >8%) Zn-Pb domains up to 2.5km long Maiden pit constrained Mineral Resource Estimate was announced in April 2023. Image 5 displays the boundary to the wireframed Tonka and Navajoh resource models, whilst Image 6 displays an optimised pit for the Tonka deposit. Image 5 – Tonka Navajoh Deposits – drill hole location plan highlighting the high grade Colorado, Magazine Feeder Zones, maximum Zn+Pb contouring + boundary to wireframed models Image 6: Tonka NE view of optimized pits with Block Model Centroids @ >1.5%Zn+Pb COG –5– 5 RUMBLE RESOURCES | ANNUAL REPORT 2023 REVIEW OF OPERATIONS Rumble Resources Ltd & Controlled Entities REVIEW OF OPERATIONS Excellent metallurgical results During the year the Company released the metallurgical results from the initial sighter program focused on the transition/fresh sulphide ores from the Chinook and Tonka deposit areas at the Earaheedy Project (refer ASX release 17 November 2022). • Outstanding initial flotation test work results from the zinc sulphide dominant ores within the Earaheedy Project included: o o o o o High zinc recoveries to 90% Zn in cleaner concentrates A very coarse primary grind size of 150 micron Fast flotation kinetics with clean sulphide separation using site water Simple and conventional processing flowsheet recovers a bulk zinc concentrate with metal credits utilising an uncomplicated reagent scheme Zinc concentrate grades up to 59% Zn, with no significant deleterious elements, supporting a very marketable product • These initial metallurgical results support a potential simple low Capex and Opex flowsheet for the Earaheedy Zn-Pb Project • Recoveries and concentrate grades are at the higher end of global benchmarks when compared to current zinc developer / producers • Considerable potential for additional improvements through metallurgical optimisation test work and value add beneficiation studies planned for 2023/2024 PROSPECT CHINOOK Composite -Hole # TONKA A-EHS001/002 B-EHD019 C-EHD027 Unconformity Unconformity Dolomite Material Type Transition/Fresh Fresh Fresh Test Number AM126-21 FT27 FT25 Host Target Spec Average Tonka Fresh Average Overall Transition/Fresh Feed Grades Zn % 3.92 4.72 1.25 Pb % 2.33 0.49 0.15 Rougher Recoveries Zn % 86.1 89.6 96.7 93.2 90.8 Pb % 63 82.3 82.1 82.2 75.7 Cleaner Recoveries Zn % 78.6 84.2 89.6 86.9 84.1 Pb % 41 72 70 70.8 60.8 44.5 58.8 49.6 54.2 51.0 Cleaner Concentrate Grades Zn % 45-55 Pb % 13.7 5.2 4.8 5.0 7.9 Zn + Pb % 58.3 64.0 54.4 59.2 58.9 Fe % 1.5 -10 7.0 4.2 9.1 6.6 6.8 As % <0.2 0.03 0.04 0.10 0.07 0.06 Mg % <0.3 0.04 0.03 0.16 0.09 0.07 SiO2 % <2.5 0.96 2.28 0.43 1.35 1.22 Table B – Metallurgical Testwork Summary – incl Rougher Recoveries / Cleaner Recoveries and Concentrate Grades –6– RUMBLE RESOURCES | ANNUAL REPORT 2023 6 Rumble Resources Ltd & Controlled Entities REVIEW OF OPERATIONS REVIEW OF OPERATIONS Bulk Concentrate – Benchmarking to other Deposits Benchmarking of the recovery - grade results against some of the larger scale zinc miners globally (Table C), highlights the results would currently place Earaheedy in the upper band of zinc producers for both critical parameters. Company New Century MMG MMG Vedanta Zinc Teck Resources Rumble Century1 Glencore McArthur River2 Project Rosebery3 Dugald River3 Gamsberg4 Red Dog5 Tonka Zn Concentrate Grade 48% 47% 54% 50% 50% 55% 54% Zn Recoveries 51% N/A 82% 88% N/A 86% 87% Table C – Tonka Earaheedy Zinc Recoveries and Zinc Concentrate vs Global Producers 1 New Century Resources Limited – Quarterly Activities Report Dec-21 2 Wood Mackenzie, August 2018 (N/A – information not available) 3 MMG Limited – Fourth Quarter Production Report 2021 4 Vedanta Zinc - Wood Mackenzie August 2018 (N/A – information not available) 5 Teck Resources Limited – Q2 2022 Financial Report E69/3787 and E69/3862 Exploration– RTR 100% Sweetwater Trend – Newly named ‘Mato Prospect’ During the year, the Company commenced RC drilling, along the Sweetwater Trend with E69/3787, testing targets identified from gravity interpretation and soil sampling. RC drilling, testing an area 7.5km west of the Chinook Deposit, intersected Zn-Pb sulphide mineralisation in the first five drill holes at the newly named ‘Mato Prospect’. Geological logging of the drill holes indicates that the Zn-Pb mineralisation occurs within the Navajoh Unconformity Unit and has similar geological controls that host the Chinook, Tonka, and Navajoh deposits with E69/3464. Further interpretation of the Airborne Gravity Gradiometry (FalconTM) Survey (AGG) completed in 2022 has highlighted multiple new gravity targets at the Mato Prospect that could potentially represent high-grade feeders. This initial drill testing along with coincident Zn-Pb soil geochemistry has outlined a potential 9km long x 3km area that could host a significant new Zn-Pb sulphide deposit and add to the emerging world class base metal system at Earaheedy (Refer ASX release 17th July 2023 – See Image 1). District Exploration - New Tenure Applications at Earaheedy During the year following a major geological targeting campaign, Rumble applied (100% RTR) for three highly prospective exploration licenses, ELA69/4124, ELA69/4149 and ELA69/4165, which are contiguous with the existing Earaheedy Project tenure. The new tenure applications increases the overall Earaheedy Project area by 170% to 1154km2 (Refer ASX release 17 July 2023 – See Image 1). Earaheedy Project - Exceptional Resource Growth Potential and Tier 1 Scale Potential The Project has exceptional growth potential with only two (Types 1 and 2 – refer to Image 7) of the five identified mineralised styles explored to date. The Chinook, Tonka and Navajoh deposits remain open downdip and along strike, demonstrating the potential for significant resource growth in the future. Less than 35% of the targeted 45km, shallow and flat lying, mineralised Navajoh Unconformity Unit (Types 1 and 2 – refer to Image 7) that hosts the potentially open pittable Zn-Pb resources has been effectively drill tested. Significant potential exists to discover high grade MVT & structurally controlled deposits in the fertile underlying carbonate formations which are yet to be tested. –7– 7 RUMBLE RESOURCES | ANNUAL REPORT 2023 Rumble Resources Ltd & Controlled Entities REVIEW OF OPERATIONS REVIEW OF OPERATIONS Image 7 – Earaheedy Project - Model of Multiple Mineralisation Styles. Other Projects, Western Australia No significant exploration or activity completed on the Company’s other regional projects including; Braeside, Warroo, Munarra Gully, Lamil JV, Western Queen and the Fraser Range area. The Company continues to review opportunities for these projects with the Company’s focus on rapidly advancing the emerging world class Earaheedy Zinc-Lead-Silver discovery. Wardawarra Ni-Cu-Co-Li-Ta-Nb-Sn-Au Project, Mt Magnet, Western Australia Rumble’s 100% owned Wardawarra Project consists of one (1) granted exploration license (E20/967) and one (1) exploration license application (ELA59/2443) for a total area of 213.3 km² (see Image 8). • • • 20km x 2km layered ultramafic sequence – prospective for Ni-Cu-Co-PGE mineralisation – results include; 19.8m @ 0.88% Ni & 0.1% Co Large pegmatite swarms over 12kms – Results up to 5.32% Li20 Interpreted 35 km extension of the Western Queen high-grade gold shear zone –8– RUMBLE RESOURCES | ANNUAL REPORT 2023 8 Rumble Resources Ltd & Controlled Entities REVIEW OF OPERATIONS REVIEW OF OPERATIONS Image 8 – Wardawarra Project – Geology and Prospects with Drill Targets Lamil Gold-Copper JV Project, Paterson Province, Western Australia The Lamil Project is located in between the major mining operations of the Nifty Cu mine and the large Telfer Au-Cu mine within the Paterson Province, East Pilbara, Western Australia (see Image 9). AIC Mines Limited (ASX: A1M) met the Stage 1 expenditure requirement (see AIC’s ASX announcement: “Exploration Update Lamil Project” released 8 August 2022). Rumble has elected to form a joint venture in which AIC and Rumble will each hold a 50% interest and contribute equally to exploration expenditure moving forward. –9– 9 RUMBLE RESOURCES | ANNUAL REPORT 2023 REVIEW OF OPERATIONS Rumble Resources Ltd & Controlled Entities REVIEW OF OPERATIONS Image 9 – Lamil Project location and Targets AIC Mines completes RC and Diamond Drilling in 2022 A total of 6,992m of drilling was completed testing five targets – Lamil Dome, Goodenia, Sundew, Flame Pea North and Flame Pea South. Lamil Dome Prospect A total of four diamond holes were completed along the eastern flank of the Lamil Dome Prospect with the aim of vectoring toward copper sulphide mineralisation associated with the contact zone of extensive mafic intrusives . Two holes tested the down dip extent of the contact zone between 21ALRC0054, which returned 1m grading 2.26% Cu and 51ppb Au from 90m, and 20ALDD0006, which returned 1.4m grading 0.05% Cu. The two other holes testing the northern extension of the flank. The two holes following up the better results continued to return elevated copper and gold over narrow intervals, as detailed below (refer AIC Mines Limited ASX release 5 December 2022): Hole 22ALDD0008 • 1m grading 0.11% Cu from 80m; and • 2m grading 0.02% Cu from 505m Hole 22ALDD0009 • 0.65m grading 0.05% Cu from 139.6m; and • 0.7m grading 0.09% Cu and 0.1% Pb from 207.3m Drilling has now demonstrated the eastern flank of the Lamil Dome Prospect is composed of several mafic intrusive bodies which appear to narrow to the north and south. Drilling has defined a central zone of notable intervals over about 2 kilometers of strike associated with strong alteration. Down-hole electromagnetic surveys (“DHEM”) conducted in holes 22 ALDD008 and 22ALDD009, did not detect any conductors. Goodenia Prospect At the Goodenia Prospect a 697m deep diamond hole was drilled to test a coincident magnetic and gravity anomaly underlying anomalous carbonaceous siltstone -hosted zinc and lead mineralization intersected in shallower drilling (refer to Image 10). Intervals of zinc and lead were intersected down the drillhole. Significant intersections include: • 3m grading 0.1% Pb and 0.016% Zn from 186m; • 6m grading 0.09% Zn and 0.03% Pb from 322m; o Including 0.5m grading 0.14% Zn and 0.063% Pb from 323.5m • 6m grading 0.21% Zn and 0.09% Pb from 474m; o Including 1m grading 0.34% Zn and 0.14% Pb from 476m; • 3m grading 0.074% Zn and 0.03% Pb from 565m – 10 – RUMBLE RESOURCES | ANNUAL REPORT 2023 10 REVIEW OF OPERATIONS Rumble Resources Ltd & Controlled Entities REVIEW OF OPERATIONS Mineralisation is typically in the form of sphalerite and galena occurring as coarse-grained disseminations and in carbonate veins associated with strong dolomitic alteration of a siltstone to sandstone package. An increase in disseminated pyrite, accounting for 5% to 10% of the core, is associated with the mineralisation (at approximately 400m down hole) with the appearance of pyrrhotite with dolomite alteration below approximately 560m. These dolomite-sulphide zones appear to correlate strongly with the gravity anomalism See Image 10. Fifty percent of the drilling costs were funded by a Western Australian Government Exploration Incentive Scheme (EIS) grant. Image 10 –Oblique section of the Goodenia Prospect showing drill holes on geology with gravity shells defining density anomalism. Sundew Prospect At the Sundew Prospect, six holes on a 750m spacing were drilled to test for potential Telfer style gold copper mineralisation beneath a multi-element soil anomaly. This anomaly coincided with an interpreted antiform composed of the prospective Malu and Isdell formation rocks (including the Telfer Member – host to the Telfer Gold mine), adjacent to the regionally significant Parallel Fault. Intervals of elevated copper and gold were intersected in three holes closest to the axis of the antiform, as detailed below (refer AIC Mines Limited ASX release 5 December 2022): Hole 22ALRC0095 • 5m grading 0.13% Cu from 152m; and • 3m grading 0.16% Cu from 160m Hole 22ALRC0098 • 8m grading 0.03% Cu from 112 Hole 22ALRC0099 • 4m grading 0.02% Cu from 176m Flame Pea South Prospect At the Flame Pea South Prospect, twelve holes were completed testing significant magnetic anomalies on the western limb of an interpreted regionally extensive anticline. Two holes targeting a discrete magnetic anomaly under Permian cover at the southern portion of the targets intersected elevated copper and gold, as detailed below: Hole 22ALRC0111 • 1m grading 0.04% Cu from 120m Hole 22ALRC0113 • 40m grading 0.04% Cu from 120m; o Including 4m grading 0.12% Cu from 128m The broad interval in 22ALRC0113 is hosted by a zone of intense albite and hematite alteration within a mafic unit, suggesting the magnetic anomaly is related to an extensive mafic intrusive, analogous perhaps to the Lamil Dome eastern flank. – 11 – 11 RUMBLE RESOURCES | ANNUAL REPORT 2023 REVIEW OF OPERATIONS Rumble Resources Ltd & Controlled Entities REVIEW OF OPERATIONS Braeside Project Rumble’s Braeside Project consists of the 100% owned E45/2032, E45/4368, E45/4874, E45/4873, and is located 129km east of Marble Bar in the East Pilbara Region of Western Australia (see Image 11). • • • • Regional Scale Porphyry to Epithermal System from surface Large-scale mineralised system over 60km in strike and 8km in width 30 priority Cu-Au-Zn-Pb-Ag targets generated Tier 1 scale potential, with 5 deposit styles delineated Image 11 – Location of Braeside, Warroo and Lamil JV Projects and Prospects. Warroo Project The Warroo Project is contiguous to the east of Rumble’s Braeside Project (see Image 11) and lies some 160km to the east of Marble Bar in the East Pilbara region of Western Australia. The project comprises of three (3) exploration licence applications (ELA45/5365, ELA45/5366 and ELA45/5367) for a total area of 1082 km² and is 100% owned by Rumble . • • • Over 18km of highly prospective strike under shallow sand cover has been delineated. Historic exploration outlined extensive copper and zinc anomalism from shallow broad spaced RAB drilling associated with a large gravity feature Grab sampling returned significant mineralisation at the Warroo Prospect: o Cu assays include – 3.43%, 2.04% and 1.51% o Zn assays include – 26%, 23.5% and 19.1% – 12 – RUMBLE RESOURCES | ANNUAL REPORT 2023 12 REVIEW OF OPERATIONS Rumble Resources Ltd & Controlled Entities REVIEW OF OPERATIONS Munarra Gully Au-Cu-Ag-Zn Project, Cue District, Murchison, WA The Munarra Gully Project is located some 50km NNE of the town of Cue within the Murchison Goldfields of Western Australia. Rumble owns 80% of E51/1677 and 100% of ELA51/1919 and ELA51/1927 (see Image 12). § § § Amaryllis Prospect – A large scale Au-Cu-Ag-Zn system discovered with better intercepts of 57m @ 0.85 g/t Au, 0.27% Cu, 4.2 g/t Ag and 10m @ 2.88 g/t Au, 0.54% Cu, 7.5 g/t Ag Amaryllis has over 2.3km’s of Au-Cu-Ag mineralisation, up to 50m wide and open in all directions Over 15km’s of highly prospective shear zone remains to be tested Image 12 – Munarra Gully Project – Calytrix Location and Results over Airborne Magnetics Western Queen Au Project, Mt Magnet, Western Australia The Western Queen Gold project lies 110km NW of Mt Magnet within the Yalgoo mineral field of Western Australia and comprises of two mining leases M59/45 and M59/208 which are 100% owned by Rumble. The Western Queen Project has three nearby operating gold processing mills. The closest mill is the Dalgaranga Mill (48km) which has a capacity of 2.5 Mtpa. The Checkers Mill (Mt Magnet) has a capacity of 1.9 Mtpa and the Tuckabianna Mill has a capacity of 1.2 Mtpa. These facilities provide the possibility for near term toll treating production. On 2nd August 2021 Rumble announced: • • • • An independent Indicated & Inferred JORC 2012 Mineral Resource of 2.10Mt grading 2.42 g/t Au for 163,268 oz Au has been estimated for the 100% owned Western Queen Project (refer mineral resources statement.) Mineral Resource Estimate ounces increased by 35% Indicated ounces increased by 145% Western Queen South & Central deposits remain open at depth (see Image 13) – 13 – 13 RUMBLE RESOURCES | ANNUAL REPORT 2023 REVIEW OF OPERATIONS Rumble Resources Ltd & Controlled Entities REVIEW OF OPERATIONS Image 13 – Western Queen Gold Project – longitudinal section of resources, previous mining and near deposit exploration potential – 14 – RUMBLE RESOURCES | ANNUAL REPORT 2023 14 REVIEW OF OPERATIONS Rumble Resources Ltd & Controlled Entities REVIEW OF OPERATIONS Summary list of all previous ASX releases referenced in this report The information in this report that relates to exploration results is summarised from publicly available information released to ASX. These results are referenced in the text of this report and the source documentation listed below: 8 August 2022-Exploration Update Lamil Project, Paterson Provence WA 26 August 2022-Milestone Payment to Rumble Resources Limited and Cleansing Notice 5 December 2022-AIC Mines Limited Drilling Results from the Lamil Gold-Copper Project, Paterson Province WA 30 August 2022 – High grade Zn-PB drill intercepts at Tonka 23 August 2022 – Significant Zones of Zn-Pb Sulphides Intersected 8 August 2022 – Exploration Update – Lamil Project 18 July 2022 – Heritage Clearance Confirmed – Sweetwater Drilling Commenced 5 July 2022 – Appointment of Geoff Jones as a Non-Executive Director 23 June 2022 – A1M: Drilling Commences at the Lamil Gold-Copper Project 26 May 2022 – Multiple New High grade Zn-Pb Zones defined at Earaheedy 20 April 2022 – Wardawarra Drilling Commenced on Battery Metals Targets 8 April 2022 – Board and Management Update 9 March 2022 – Major Exp of Zn-Pb Mineralised Footprint at Earaheedy 21 February 2022 – Further High grade Zn-Pb Results and Strong Grade Continuity 9 February 2022 – A1M:Drilling Results from Lamil Project,Paterson Province WA 7 February 2022 – Drilling Commences on the High grade Kalitan Feeder Zone 31 January 2022 – Shallow High grade Zn-Pb Sulphides Intersected at Earaheedy 20 January 2022 – Two Key Tenements Granted at Earaheedy Zn-Pb-Ag-Cu Project 21 December 2021 – RTR: Major Zinc-Lead-Silver-Copper Feeder Fault Zone Inters 13 December 2021 – New Zinc-Lead-Silver Discovery at Earaheedy Project 18 November 2021 – Munarra Gully Project – Exploration Update 11 November 2021 – A1M – Investor Presentation 10 November 2021 -Wardawarra Project – Significant Ni Cu Co Au Ta Ni Sn and Li 20 October 2021 – A1M: September Quarterly 18 October 2021 – Earaheedy Zn-Pb-Mn-Ag Project Growth Continues at Chinook 2 August 2021 – Western Queen Resource Upgrade to 163,000oz Au 12 July 2021 – Rumble Consolidates 100% Ownership of the Braeside Project 8 July 2021 – Significant Increase of Earaheedy Mineralisation Footprint 2 June 2021 – Large Scale SEDEX Style System Emerging at Earaheedy Project 19 April 2021 – Major Zinc-Lead Discovery at Earaheedy Project 8 April 2021 – Drilling Update at Earaheedy Zinc-Lead-Silver Project 25 March 2021 – Drilling Commenced at Earaheedy Zinc-Lead-Silver Project 26 February 2021 – A1M: Final Results from Maiden Drilling Program at Lamil Project 23 February 2021 - Drilling Expands Large-Scale Gold-Copper-Silver System 17 February 2021 - Multiple High grade Lead-Zinc-Silver Breccia Zones Discovery 15 February 2021 - Significant Widths of Copper at Camel Hump Prospect 3 February 2021 - High grade Gold Shoots at Western Queen South Deposit 28 January 2021 - A1M: Initial Results Maiden Drilling Program at Lamil Project 18 December 2020 - A1M: Phase 1 Drilling Completed at Lamil Project 17 December 2020 - Drilling Update - Gold and Copper Projects 15 December 2020 - Significant Copper and Lead Discovered at Braeside Project 4 November 2020 - Discovery High grade Gold Shoots and Shear Zone Extension 6 October 2020 - 16m at 6.69 g/t Gold Intersected at Fraser Range 4 May 2020 - Higher Grade Zn-Pb in Drilling confirms Discoveries 23 April 2020 - Drilling Confirms Large Scale Gold-Copper-Silver System 17 February 2020 - High Grade Gold Discovery at the Western Queen Project 11 February 2020 - Large Scale Copper-Gold System Defined at Munarra Gully 30 January 2020 - High Priority Targets Identified - Warroo Project 23 January 2020 - Large Scale Zn-Pb-Ag Discoveries at Earaheedy – 15 – 15 RUMBLE RESOURCES | ANNUAL REPORT 2023 MINERAL RESOURCES STATEMENT Rumble Resources Ltd & Controlled Entities MINERAL RESOURCES STATEMENT Earaheedy Base Metal Project On 19 April 2023, the Company announ