South Telfer

The South Telfer Project consists of six exploration licences and two prospecting licences covering approximately 540km2 and greater than 40km strike, of prospective geology. The project area has been previously explored by Newcrest which identified outcropping gold and copper mineralisation at the Hasties Prospect and large in rock gold anomalies at Westin.

Rincon has compiled the extensive historical exploration work includes 260 drill holes (24,762 metres) and 1,068 surface assays of various types.

Multiple targets have been identified, with the most advanced being the outcropping Hasties Prospect.

Hasties is only 10km south of Newcrest’s Telfer Gold Mine with gold and copper mineralisation having been identified within the same sedimentary sequences known to host gold mineralisation at the Telfer. In addition, an over 5km long gold anomaly has been identified by wide spaced aircore drilling at the Westin Prospect, along strike from the Telfer Dome trend.

At Hasties mineralisation outcrops at surface and has been identified over a 1km strike which occurs within brecciated sedimentary rocks. Historical drilling returned multiple wide intersections of gold and copper over a large area. Mineralisation remains open in all directions and only a small portion of the prospective strike length has been drill-tested. Historical significant drill intercepts include;

Hasties Gold Intercepts:

57.80m @ 2.05g/t Au from 17.40m incl;

16.10m @ 4.75g/t Au from 42.70m;

68.00m @ 1.33g/t Au from 1.00m;

36.00m @ 1.66g/t Au from 2.00m;

33.20m @ 1.46g/t Au from 25.00m;

23.00m @ 2.06g/t Au from 23.00m; and

5.00m @ 3.73g/t Au from 50.00m.

Hasties Copper Intercepts:

20.60m @ 1.23% Cu from 87.60m;

10.90m @ 3.39% Cu from 91.80m; and

4.00m @ 4.84% Cu from 49.00m.

Historical regional exploration work was also completed at the Westin prospect, approximately 30km southeast of the Telfer Gold Mine. Work consisted of soil sampling and wide spaced aircore drilling (typically 1km spaced lines with holes 200m apart along lines). The Westin area is covered by thin sand cover and sand dunes and aircore drilling sampled bedrock lithologies. Sedimentary sequences which host gold mineralisation at Telfer were identified, as well as a large, open, 5km long gold in bedrock anomaly. Best results from the Westin prospect include 8.00m @ 3.85g/t Au from 84.0m.

Rincon’s tenements cover over 25km of prospective strike at Westin which has never been explored.

Rincon has recently acquired and interpreted high resolution aeromagnetic data which covers the South Telfer tenements and a number of anticlinal and domal structures have been identified, which are often associated with copper and gold mineralisation throughout the region.

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