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Walford Creek

Cu-Co-Zn-Ni

2022 Exploration

July 2022

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onlyfficers, employees, agents or associates, nor any other person, for the Information or for any action taken by the recipient or any of the recipient's officers, employees, agents or associates on the basis of the Information.

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Dominant Emerging Basin Tenement Package

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Walford Creek Project (100%)

• World class copper province

• >95,000m drilling over past 5 years

• >44Mt polymetallic Mineral Resource underpins development with ~97% in measured and indicated (38%, 59%)

• Significant near resource potential

• Regional upside with >100km strike of basin edge

• A substantial copper/cobalt development

• Highest grade significant cobalt deposit in Australia

Other Queensland Projects

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Dominant land holding in emerging

IOCG district west of Isa. CEI funded

geophysics

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Strong land holding along the Mount

Isa fault

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Drill ready porphyry target at Monto

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Refer to Aeon's ASX releases dated 29th March 2022 (Walford Creek Exploration Strategy)

Refer to Aeon's ASX release of 21 March 2022 (Walford Creek Resource Upgrade) for full details of the Mineral Resources Estimates update. Aeon confirms that it is not aware of any new information or data that materially affects the information included in that ASX release. All material assumptions and technical parameters underpinning the estimates in that ASX release continue to apply and have not materially changed.

Existing Mineralisation

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Existing resource at Walford defined at Vardy, Marley (96.9% Indicated or measured) and Amy

(inferred) of >44Mt

Two separate resources are reported at Vardy and Marley consisting of a copper resource (0.5% Cu Cut off) and a Cobalt Peripheral resource (600ppm Co cut off)

Updated 2022 MRE for Vardy/Marley are:

  1. Copper mineralisation: 20.1 Mt @ 1.08% Cu, 0.15% Co and 31g/t Ag

o Cobalt peripheral mineralisation: 19.2 Mt @ 0.25% Cu, 0.10% Co and 21g/t A

Existing MRE for Amy: 5.1Mt @ 1.25% Cu, 0.15% Co and 36.9g/t Ag

Refer to Aeon's ASX releases dated 21st March 2022 (Walford Creek Resource Upgrade)

Vardy / Marley 2022 Copper Mineral Resource >0.5% Cu

Vardy/Marley Cobalt Peripheral Mineral Resource (600ppm Co Cut-off on blocks that are outside of Copper Resource)

Amy 2021 Copper Mineral Resource >0.5% Cu

An Exploration Target for the PY3 unit at Amywhere insufficient drilling data exists to

define a Mineral Resource, as part of the April 2021 updated MRE.

The Exploration Target for the PY3 mineralised unit is 2 to 4 Mt @ 1.1 - 1.5% Cu,

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1.1 - 2.0% Pb, 0.5 - 1.6% Zn, 30 - 60 ppm Ag and 0.11 - 0.2% Co.

Resource Expansion Opportunities

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Refer to Aeon's ASX releases dated 29th March 2022 (Walford Creek Exploration Strategy)

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Aeon Metals Limited published this content on 22 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 July 2022 00:03:01 UTC.