BRYAH BASIN PROJECTS - CuFe Limited

Free Carried Interests

CUF, via its wholly owned subsidiary Jackson Minerals Pty Limited (Jackson Minerals), has a 20% interest in tenements covering an area of 804 km² in the highly prospective Bryah Basin proximal to Sandfire Resources NL (ASX: SFR) Doolgunna Project and DeGrussa copper gold mine.

The Bryah Basin Project tenements are subject to joint ventures and farm-ins with Billabong Gold Pty Ltd (Billabong), Alchemy Resources (Three Rivers) Ltd (ASX: ALY), Auris Minerals Ltd (ASX: AUR) and SFR. SFR is currently actively exploring the area.

The Bryah Basin is a highly prospective and largely under-explored mineral field with potential for further discovery of gold and base metals.

Tenement Interests

Tenement reference	Project & Location	Interest
E52/1668	Peak Hill – Western Australia	20%
E52/1678	Peak Hill – Western Australia	20%
E52/1722	Peak Hill – Western Australia	20%
E52/1730	Peak Hill – Western Australia	20%
P52/1538	Peak Hill – Western Australia	20%
P52/1539	Peak Hill – Western Australia	20%
P52/1494	Forrest – Western Australia	20%
P52/1495	Forrest – Western Australia	20%
P52/1496	Forrest – Western Australia	20%

Notes:
Billabong (Operator), ALY and SFR hold various mineral rights under various earn in agreements for an 80% interest in the tenements. CUF (via Jackson Minerals) holds the remaining 20% interest in all minerals free carried to decision to mine.

SFR (Operator) and ALY hold various mineral rights for an 80% interest in the tenement. CUF (via Jackson Minerals) holds the remaining 20% interest in all minerals free carried to decision to mine.

AUR (Operator) holds an 80% interest in all minerals. CUF (via Jackson Minerals) holds the remaining 20% interest in all minerals free carried to decision to mine.

Mining tenements with beneficial interest held in farm-in/farm-out agreements

Farm-in/out Agreement and Tenement reference	Project & Location	Interest
Sandfire Farm-in E51/1033-I	Morck Well – Western Australia	20%
Sandfire Farm-in E52/1613-I	Morck Well – Western Australia	20%
Sandfire Farm-in E52/1672-I	Morck Well – Western Australia	20%

Notes:
AUR (Operator) hold 80% in all minerals and CUF (via Jackson Minerals Pty Ltd) holds 20% interest in all minerals.

AUR to pay PepinNini Robinson Range Pty Ltd a 0.8% gross revenue royalty from the sale or disposal of iron ore.

Sandfire Farm-in: Subject to a Farm-in Letter Agreement between SFR, AUR and CUF. If SFR makes a Discovery on the tenements and a JV is formed then the interests in the tenements will be 70% SFR, 24% AUR and 6% CUF. Full details of the agreement are described in the AUR ASX announcement dated 27 February 2018.