Accent Resources N L : Quarter Activities Report

Quarterly Activities Report

For The Period Ending

31 March 2022

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

Highlights for the quarter ending 31 March 2022

Magnetite Range Project (MRP)

•  Stage one Reverse Circulation (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 and final assay results have been received.

•  MRP 2021 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 have been received.

•  MRP Wireline downhole geophysical surveys on 2021 RC drill program have been com-pleted, final report is pending.

•  MRP Tenement Applications E59/2664, E59/2666, E59/2668, E59/2686 and L59/210 have all been submitted and are pending DMIRS application process.

•  MRP 2022 target areas 1-4 environmental survey scope have been finalised and are pend-ing final review.

•  MRP 2022 targeted areas 1-4 heritage surveys scopes have been finalised, field work is scheduled next reporting period.

•  MRP 2022 phase two Julia infill RC drill targeting has commenced; relevant Plan Of Work's

  (POW) have been submitted and are pending DMIRS approval.

Norseman Gold Project (NSP)

•  NSP 2022 reverse circulation drill targeting has been completed, field pegging has taken place of phase two collars.

•  NSP 2022 environmental desktop review has been completed, targeted environmental sur-veys have been recommended.

Capital Structure
Ordinary Fully Paid Shares at 31 March 2022	466,027,283
12 month high-low	$0.060-$0.035

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.

Accent has two projects in Western Australia, the Magnetite Range Iron Ore project located in the Midwest region of WA and the Norseman Gold project. Accent Resources NL (ASX: ACS) is pleased to provide the following report on its activities for the quarter ending 31 March 2022.

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) phase one infill RC drill holes for 9,861m were completed over the Julia Prospect. This round of 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 in the process of being finalised.

All head assays have been received back from Nagrom laboratories and subsequently reportedin an MRP exploration update released on

8th

February 2022; (*http://www.accentresources.com.au/asx.asp). CSA global have commenced resource modelling of the Julia deposit.

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%
Tolsutra Pty Ltd	500,000	0.11%

Specialist Metallurgical advice has been sought regarding Davis Tube Recovery (DTR) analysis sampling parameters, intervals are to be selected and subsequently submitted for analysis next reporting quarter. All results are required to be received and a thorough interpretation undertaken.

The next phase of infill RC drilling over Julia prospect is in the planning phase, drilling is expected to commence September 2022. This will increase confidence in grade continuity and domaining and test depth potential of the existing resource. A Plan of Work (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 a whole area survey during the reporting period. Final results and report have been received. Several areas have been highlighted as areas of significance and will require further detailed surveys if ground disturbing activities are to take place within these areas. The main Julia resource area has been cleared.

Several 2022/2023 target areas 1-4 have been highlighted for environmental and heritage surveys, final scopes of work and consultants are under review. These surveys are planned to commence next reporting period, dependant on contractor and accommodation availability.

Accent resources completed 5 new tenement applications over the MRP project area. Exploration applications E59/2664, E59/2666, E59/2668 and E59/2686 and Miscellaneous application M59/210 were all submitted during the reporting period and currently pending DMIRS grant process.

A detailed geophysical data review of open file datasets over the Magnetite Range Project area has been completed, final data and results are yet to be received from CSA global geophysical specialist. Further work and review of this data has been recommended to assist tighter targeting.

Further work planned for the next reporting period includes finalising 2022 RC drilling over Julia prospect, completing environmental and heritage surveys over target areas 1-4, drill program design over target areas 1-3 and completing a metallurgical review of historical data and complete recommended DTR analysis over Julia prospect. The company has engaged several specialists consultants to focus strategic studies working towards PFS over the Magnetite Range Project area.

Figure one - MRP Activities Map for quarter ending 31 March 2022