All Dacian Gold deposits are located within the Yilgarn Craton of Western Australia.

The Westralia (including Morgans North) deposits banded iron formation (BIF) hosted sulphide replacement, mesothermal Archaean gold deposits comprising sedimentary packages composed predominantly of BIF but also including chert, mudstone, shales, conglomerate and minor felsic volcaniclastic rocks. All are intercalated within or separated by ultramafic volcanic rocks and variably intruded by felsic porphyry dykes and lamprophyres. Gold mineralisation is associated with microscopic quartz carbonate veinlets within BIF. BIF acts as the primary host for mineralisation though other rock types including basalt, porphyry intrusive and ultramafic may also be mineralised in smaller volumes and with less continuity.

The Jupiter deposit is interpreted to comprise structurally controlled mesothermal gold mineralisation related to syenite intrusions within altered basalt. A majority of mineralisation is associated with large shallow east dipping shears, with significant mineralisation developing where these shears cross cut syenite intrusions or the altered basalt proximal to the syenite intrusions. A number of small structures in the form of shears, faults and veins dip either steeply to the west, or moderately towards the north-west, north and/or north-east.

At Maxwells, gold mineralisation is hosted within the BIF and is mineralised over a strike length of ~1km. Gold ........

Dacian has now safely and successfully closed its mining operations and transitioned to processing low grade stockpiles.

The Jupiter area - mechanised open pit mining was suspended at the end of June 2022.

The Westralia area - the underground mining method of top-down long hole open stoping with pillars was suspended at September quarter 2022.

The LG Stockpiles are located adjacent to the Jupiter ROM pad. The processing of the LG Stockpile involves loading and hauling to the ROM pad using a loader and trucks. No mining selectivity of the stockpiles is implied as the stockpile reserves are reported at an average grade and assumed that the entire stockpile will be processed at the average grade.

Processing of existing stockpiles allows the Company to continue milling operations during FY23 while the Company pivots towards exploration and development under a new leaner operating model that reduces its cost base with the expectation mining operations will recommence in the future.

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