Historic Exploration

Drilling commenced at the deposit in 1964, with BHP drilling shallow percussion holes and one diamond drill hole. Between 1969 and 1974 Aberfoyle Tin drilled a series of close spaced shallow percussion holes and diamond drill holes. The Tasmanian Mines Department drilled four diamond holes in the 1970’s and Shell drilled a further two diamond holes in 1983. The final drilling on the project was in 2018 with previous owners TNT Mines drilling a single diamond drill hole.

A total of 199 holes have been drilled at the deposit with an average depth of 46m. The maximum hole depth is 348.3 m and only 5 holes deeper than 150 metres have been drilled.

The deposit’s nature and extent are not constrained laterally or vertically, and the deposit is considered open for extension in all directions.

Prior to TinOne Resources Inc., no modern geophysical methods had been conducted.

Resource

The Inferred Resource was estimated using Multiple Indicator Kriging method of 1.5 metre down-hole composites within a mineralised domain interpreted from tin grade. The estimate is restricted to the area of close spaced drilling and 90% of the resource occurs within 40m of surface. Although the limited deeper drilling has encountered mineralised material this was not included in the resource.Additional drilling utilising modern drill techniques, analytical techniques and QA/QC will be required to re-estimate the resource and report under NI 43-101.

A qualified person has not done sufficient work to classify the historical estimate as current mineral resources or mineral reserves and TinOne is not treating the historical estimate as current mineral resources or mineral reserves.

TinOne Resources Inc. Exploration

The principal work undertaken by TinOne Resources Inc. has been the collection of a trial 3D IP-Resistivity survey. No previous modern geophysics has ever been conducted on the project and geological observation of quartz-pyrite alteration and veining suggested to Gondwana that IP-Resistivity may be an applicable technique.

The trial survey was conducted on north westerly oriented lines and was highly successful in confirming that known mineralisation is associated with a strong chargeability response. Furthermore, the survey was highly encouraging in defining three significant targets for follow up. These targets include a major combined chargeability and resistivity target beneath and to northeast of the current resource and additional strong chargeability anomalies to south and southeast. Two of these targets are undrilled and the third has a single drillhole. The northeast and southeast targets extend to the limits of the current survey and hence are entirely open.