Accent Resources N L : December Quarter Activities Report

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Quarterly Activities Report

For The Period Ending

31 December 2021

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Highlights for the quarter ending 31 December 2021

Magnetite Range Project (MRP)

• Stage one RC drilling was completed during the reporting period over M59/764 and
  M59/166 (Julia Prospect). A total of 57 RC drill holes for 9,861m were drilled, final sam- ples were submitted to the labs on 6th October 2021, final assay results are pending;
• MRP whole area spring flora and fauna level II surveys have been completed over
  M59/764 and M59/166, final results are pending;

•MRP whole area heritage surveys have been completed over M59/764 and M59/166, final results are pending;

•MRP phase one RC downhole geophysical surveys have commenced; field activities are ongoing

Norseman Gold Project

•Several low order targets have been identified from desktop review, ranking of targets and preliminary RC drill targeting has been completed.

	Capital Structure
	Ordinary Fully Paid Shares at 31 December 2021		466,027,283
	12 month high-low		$0.115 - $0.01
	Directors & Management
Yuzi (Albert) Zhou			Executive Chairman
Dian Zhou He			Deputy Chairman
Jun Sheng Liang			Non Executive Director
Jie You			Non Executive Director
Rob Allen			Company Secretary
	Top 10 Shareholders		No.		%
	Rich Mark Development (Group) Pty Ltd		313,245,410		67.2%
	Xingang Resources (HK) Limited		98,026,518		21.03%
	Grandmaster Fortune		21,563,603		4.63%
	Mr Bin Cui		10,115,470		2.17%
	Sino Oriental International Limited		10,000,000		2.15%
	Mrs Li Li Zhao		2,102,500		0.45%
	Invia Custodians		852,000		0.18%
	Dong Liang		583,959		0.13%
Brownward Pty Ltd		500,000		0.11%	2
	Tolsutra Pty Ltd		500,000		0.11%

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Corporate

In conjunction with majority shareholder Rich Mark Development Group and Xingang Resources (HK) Limited the Company continues to assess investment opportunities and projects for acquisition or development.

Magnetite Range Iron Ore Project (ACS 100%)

The Company's wholly owned Magnetite Range Project is located in the Midwest region of Western Australia, immediately adjacent to the Extension Hill iron ore mine, and contains a total JORC resource of 434.5 Mt at 31.4% Fe at 15% weight recovery cut off, as announced to the ASX on 28 November 2012.

A total of 57 (MGRC096-152) infill RC drill holes completed on the 19th September 2021 for 9,861m over the Julia Prospect have been submitted to Nagrom laboratories for analysis.

Anticipated turnaround of lab results has doubled, resulting in delays for final results. Assay results returned only represent a portion of all samples submitted. A separate announcement of partial drill results received to date is pending release. DTR intervals will be selected and subsequently submitted for analysis next reporting quarter. All results are required to be received and a thorough interpretation undertaken.

Phase one RC drilling over the Julia prospect resulted in an approx. grid coverage of 100m x 50m over the main Julia resource area and has resulted in increased confidence in geology. An updated geological model over the prospect is pending, followed by a resource model over Julia prospect.

The next phase of infill RC drilling over Julia prospect is due to commence early 2022. This will increase confidence in grade continuity and domaining and test depth potential of the existing resource. A PoW for this next phase of drilling is currently pending approval.

Ecoscape completed level II environmental flora and fauna surveys over the Julia prospect covering M59/764 and M59/166. The field portion of this work has been completed. Level II flora and fauna survey results and final reports are pending.

Heritage Link completed a whole area ethnographic and archaeological survey over the Julia prospect covering M59/764 and M59/166. A team of Badimia Native title representatives and Terra Rosa consultants completed 3 field trips to complete whole area surveys during the reporting period. Final results and report are pending.

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Further work planned for the next reporting period includes completing downhole geophysical surveys on 2021 phase one RC drill program and finalisation of phase two 2022 infill RC drill program. The company has engaged a specialist to complete a detailed geophysical data review of open file datasets over the Magnetite Range Project area.

Figure one - MRP Activities Map for quarter ending 31 Dec 2021

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Norseman Gold Project (ACS 100%)

The Norseman Gold Project occurs within a strongly mineralised portion of the southern Norseman-Wiluna greenstone belt and is located 5km south of the Norseman town site. A JORC 2004 Code Mineral Resource for Iron Duke and Surprise deposits of 1,039,400 tonnes @

1.8 g/t Au for 59,500 ounces (99 percentile upper cut, 1.0 g/t Au lower cut off) was announced to the ASX on 26 November 2012. Over 70-80% of the resource is shallow, within 50m of surface.

Several low order targets have been identified from a desktop review, ranking of conceptual targets has taken place and desktop RC drill targeting has been completed.

Preliminary phase two RC drill design and site checks have taken place, next reporting period will complete field pegging and finalisation of phase two RC 2022. A PoW is in place to complete phase two RC drill program.

Figure two - Norseman Project Activities Map for quarter ending 31 Dec 2021

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