Mt York Gold Project - Pilbara's Largest Undeveloped, Free-Milling Gold Deposit

The Mt York Gold Project is Kairos' flagship, 100% owned, advanced gold deposit located 100km south of Port Hedland in Tier 1 gold country. The project is 4km south of Pilbara Minerals’ Pilgangoora Lithium-Tantalum Mine, occurs in the same prolific greenstone belt and is supported by excellent infrastructure.

The Mt York Gold Project is the Pilbara's largest undeveloped, free-milling gold deposit with a current resource of 1.4moz Au and huge scope to grow. The gold mineralisation occurs within and on the margins of a significant Banded Iron Formation (BIF) over a 3,000m strike length. The mineralisation, contained in what is called the 'Main Trend' comprising (from west to east) the Main Hill Prospect, Breccia Hill and Gossan Hill and continues to the northwest on Pilbara Minerals' EL45/2241. Kairos has negotiated the gold and base metal mineral rights (excluding lithium and tantalum) to the Main Hill Extension Prospect and to 367sqkm of additional ground shown in green on the above map. Kairos will begin drilling on the Main Hill Extension Prospect to incorporate and grow the Main Trend resource past 1.4moz as soon as heritage work and construction of a full-form agreement with Pilbara Minerals is complete.

The project has current resources of 43.08 MT @ 1.0 g/t Au for 1,385,000 ounces (Indicated Resources of 20.25 MT @ 1.06 g/t Au for 690,000 ounces, Inferred Resources of 22.83 MT @ 0.95 g/t Au for 697,000 ounces) at a 0.5 g/t Au cutoff grade. At a 0.3 g/t cutoff the resource is 62.95 MT @ 0.81 g/t Au for 1,639,000 ounces (Indicated Resources of 26.36 MT @ 0.91 g/t Au for 771,000 ounces, Inferred Resources of 36.59 MT @ 0.74 g/t Au for 871,000 ounces). Conversely, at a 1.0 g/t cutoff grade applied to the resource model, the Mt York Gold Deposit contains 14.59 MT @ 1.6 g/t Au for 751,000 ounces (Indicated Resources of 8.72 MT @ 1.53 g/t Au for 429,000 ounces, Inferred Resources of 5.87 MT @ 1.69 g/t Au for 319,000 ounces) demonstrating that the Mt York Deposit has higher-grade plunging shoots within the deposit geometry.

A scoping study is underway and will include detailed mine design on the highest confidence resources only and look at variable process rates from 2.5, 4.0 and 5.0 MTPA throughputs. All project resource, metallurgical and geotechnical studies will be incorporated into the scoping study and include valuation metrics and sensitivities.

Table 1. Mineral Resource Estimate for the Mt York Gold Project (Main Trend) (0.50g/t Au cut-off above -150mRL = 325m maximum vertical depth). Totals may vary due to rounding.

Table 2. Grade and Tonnage table for the Mt York Gold Deposit (Main Trend). Totals may vary due to rounding.

The Mt York Gold Project has seen unprecedented resource growth since 2016 and the Kairos Technical Team believe that the resource will grow further through systematic targeting of the newly-acquired extension to Main Trend (which is awaiting drilling) and the high-grade plunging shoots at the 3,000m-long Main Trend. Future exploration at Main Trend will concentrate on drilling the 1,500m Extension to the Main Hill Prospect towards the northwest where Pilbara Minerals confirmed drill hits including 16m @ 2.43 g/t Au from 16m (MYRC007), 8m @ 2.41 g/t Au from 44m (MYRC011) and 15m @ 1.18 g/t Au from 13m (WSRC02).

Mt York Regional Exploration Upside

The exploration team at Kairos has identified numerous, highly-promising opportunities for further resource growth beyond the three deposits currently included in the Mineral Resource. Exploration activities will now focus on exploring areas within the greater Mt York tenure that show significant gold discovery potential.

Target  generation and target ranking is currently being undertaken across the Mt York district with the aim of producing a robust pipeline of quality exploration targets that will guide efforts to discover significant shallow gold mineralisation. The ultimate goal is to identify satellite deposits that would augment the Mt York gold project and contribute to its long-term success.

Plan view of the Mt York project area showing the Main Trend Deposit in relation to the local and regional prospects.

Local and Regional Prospects

Main Hill Extension: Kairos has negotiated gold and base metal rights to 1,500m strike of the Main Hill mineralisation to the northwest. Pilbara Minerals (ASX:PLS) drilled shallow RC drilling and confirmed results of:

• 12m @ 1.37 g/t from 80m (MYRC005)
• 16m @ 2.43 g/t Au from 16m (MYRC007)
• 4m @ 3.32 g/t Au from 4m (MYRC008)
• 6m @ 1.37 g/t Au from 84m (MYRC009)
• 8m @ 2.41 g/t Au from 44m (MYRC011)
• 2m @ 1.76 g/t Au from 116m (MYRC013)
• 5m @ 1.36 g/t Au from 173m (MYRC014)
• 15m @ 1.18 g/t Au from 13m (WSRC02)

Kairos and Pilbara Minerals are in negotiation to bring forward access to this area for immediate drilling. Any additional gold mineralisation intercepted in this area will be modelled and included in the next Mineral Resource Estimation (MRE). The resource milestone that the Company is working towards is 2.0 million ounces of gold.

Main Trend Resource Opportunities: Main Hill Prospect has been poorly drilled in the past but offers huge opportunities to increase the gold resources as the Banded Iron Formation (BIF) host rocks are mineralised throughout the sequence that approaches 100m wide true thickness. Kairos will target obvious areas within the current resource model for both increases in the 1.4moz resource and to increase confidence from Inferred Resources to Indicated ahead of Reserve Estimation and final mine planning.

Zakanaka: A historic open pit mining centre 2km north of Main Trend with mineralisation remaining open along strike and at depth.

Gilt Dragon: A gold prospect 3km to the southeast of Main Trend with significant historic early stage drill results, including 19m @ 1.31g/t Au from 1m.

Exploration undercover: The area south and east of the Main Trend deposit is under shallow alluvial cover. Aircore drilling completed in 2021 identified 0.46 g/t Au at end of hole. Ultrafine soil samples also show Au and multi-element pathfinder anomalism.