Further confirmation of new discovery and broad intervals at Trundle Park

• Full assay results confirms hole TRDD029 as an important new geological discovery along the southern extension zone at Trundle Park:
• Cumulative gold and copper mineralisation across 196m returned in three skarn zones in TRDD029, including: 
• Upper Skarn: 36m @ 0.68 g/t gold and 0.29% copper¹
• Middle Skarn: 129m @ 0.17 gold and 0.12% copper, including:
• 34m @ 0.38g/t gold and 0.30% copper
• Assay results for TRDD030, that intersected cumulative skarn of ~250m, along with quartz-carbonate-chalcopyrite vein sets in the Middle Skarn, expected in 3 weeks
• Most recent hole TRDD031 has intersected cumulative skarn of >100m, below potassic alteration within quartz veining comprising tourmaline-bornite-chalcopyrite in volcanics

• Tabular, bedded, mineralised skarn system across three zones confirmed over >240m strike (and open), with estimated true width of up to 120m
• Skarn mineralization and quartz sulphide veining in overlying volcanics from holes TRDD029, TRDD030 and TRDD031 provide important geological and mineral vectors for the targeted causative intrusive porphyry source
• Hole TRDD032 commenced following up these vectors which are coincident with a wider north-south mineralised corridor and magnetic low
• Air-core drilling program of 50 holes for 1,550 metres complete, testing the wider intrusive complex and extent of identified anomalous copper-gold mineralisation at open pit target depths to the north of Trundle Park

MELBOURNE, Australia, March 15, 2022 /CNW/ - Kincora Copper Limited (the Company, Kincora) (TSXV: KCC) (ASX:KCC) is very pleased to provide an exploration update from ongoing drilling at Trundle Park prospect situated at the brownfield Trundle project, located in the Macquarie Arc of the Lachlan Fold Belt (LFB) in NSW, Australia.

John Holliday, Technical Committee chair, and Peter Leaman, VP of Exploration, noted: 

Further confirmation of new discovery and broad intervals at Trundle Park - full press release with accompanying figures and tables (CNW Group/Kincora Copper Limited)

"Full assay results for TRDD029 confirm a new geological discovery in the southern extension zone at Trundle Park, with two encouraging broad intervals of higher gold and copper tenor in skarn beds typical of Macquarie Arc porphyry copper-gold systems. 

Also, most recent hole TRDD031 has added to our understanding of this southern extension zone. We have now intersected a tabular, bedded, mineralised skarn system across a strike of over 240m with Upper, Middle and Lower skarns in three holes.  Widths, alteration and visual mineralisation of these skarn zones are providing vectors for follow up drilling.

These results are very encouraging that we are lateral to and near the margin of the primary target, the ore discovery we are after, which is a higher-grade, large porphyry deposit.

As we await assay results for TRDD030 and 31 we continue to systematically explore out from this new southern extension discovery zone, which remains open in all directions. Hole TRDD032, a 150m step-out to the south-east is in progress."

Ahead of the upcoming 121 Mining Investments APAC online conference an updated corporate presentation, including further details on the Trundle project and recent drill results, is available at www.kincoracopper.com

Figure 1: Section and working interpretation of the Trundle Park southern extension zone  

LHS: Cross section of a tabular, bedded mineralised skarn system confirmed across three zones over a >250m strike (and open in all directions) and quartz sulphide veining in holes TRDD029, TRDD030 and TRDD031 at Trundle Park. Hole TRDD032 in progress stepping out 150m to the SE following up coincident vectors.

RHS: Conceptual and illustrative setting of the Trundle Park southern extension zone relative to the Macquarie Arc porphyry model with a targeted causative intrusive porphyry source being at a lateral setting (similar to the Big Cadia skarn to Cadia Quarry).

Assay results for drill hole TRDD029 and visuals of TRDD031

Full assay results for hole TRDD029 confirm an important new geological discovery with the southern extension zone at the Trundle Park prospect. Gold and copper mineralisation was returned across a total of 196m covering three separate tabular skarn zones, including higher gold and copper tenure in the Upper and Middle Skarn zones. This is very encouraging and significant in the context of the Macquarie Arc. Assay results are included in Tables 1 and 2.

Table 1: Trundle Park target hole TRDD029 – Summary of skarn zone intervals   

^1	Previously reported, January 24th, 2022, "Newly Discovered Higher-Grade Zones Expand the Large-Scale Gold-Copper System at Trundle Park"
	Full summary of significant mineralised intervals from TRDD029 available in Table 2

Most recent hole TRDD031 has intersected the three skarns zones; the Upper, Middle and Lower, as did TRDD029 and TRDD030, with a cumulative mineralised interval across these skarn zones of over 100m. The three holes to date in the southern extension zone have confirmed a tabular, bedded, multiple zone mineralised skarn system confirmed across over 240m strike with estimated true width of up to 120m (the Middle Skarn in TRDD030). The southern extension zone remains open in all directions.

Hole TRDD030 intersected cumulative skarns of over 250m, with quartz-carbonate-chalcopyrite vein sets in the Middle Skarn with assay results expected in 3 weeks.

Similar to previous holes TRDD029 and TRDD030, there is representation of copper sulphides associated with prograde skarn development in hole TRDD031. These are generally characterised by garnet-magnetite-pyrite-chalcopyrite, mainly within the Middle Skarn and also present to a lesser extent in the Upper Skarn zone (the latter which appears to have pinched out in hole TRDD031).

The width, alteration and visual mineralisation of the respective three skarn zones from hole TRDD029, TRDD030 and TRDD031 are providing insights to the interpreted fluid pathways from the primary source, and targeted causative porphyry intrusion.

While TRDD031 didn't intersect the anticipated quartz-carbonate-chalcopyrite vein sets that holes TRDD029 and TRDD030 did, it returned the first indications of tourmaline occurring along quartz veinlets along with blebs of bornite and/or chalcopyrite, and from a relatively shallow depth (first noted at 285m down hole). This zone was hosted in silica-magnetite altered pebbly volcanoclastic rocks, and is believed to explain the magnetic high anomaly the hole drilled tested.

At this stage, there are no intersected intrusions identified in TRDD031 to help explain these higher temperature minerals (tourmaline and bornite) and no deeper intrusions to explain the significant chalcopyrite and magnetite in the various skarn horizons. This setting of sulphide veining in upper volcanics supports the working interpretation of targeted causative intrusive source being on a lateral setting – see Figure 1 for the section and working interpretation of the Trundle Park southern extension zone. 

The skarn zones and quartz sulphide veining in the overlying volcanics from holes TRDD029, TRDD030 and TRDD031 provide important geological and mineral vectors for the targeted causative intrusive porphyry source. The large mineralised skarns and vein systems are suggestive of significant primary source.  

Hole TRDD032, a 150m step-out to the south-east, is in progress following up these vectors, which are coincident with the wider southern mineralised trend corridor and magnetic low.

Figure 2: Significant new mineralised zones and extension – the wider Trundle Park system covers a ∼1.3 km strike and open

(a)	Plan view of Trundle Park prospect, multiple visually significant mineralised zones in holes TRDD029, TRDD030 and TRDD031 - see Figure 2 (b) & (c) for sections
(b)	Only three holes in but clear scale potential emerging in southern trend extension discovery zone
	Working Leapfrog alteration model and section of the Trundle Park prospect
	(Section line looking southeast through Figure 2 (a). Length ~1450m and width ~600m)
(c)	Key alteration, lithology in TRDD029/30/31 and intrusions with significant mineralised
	intervals/holes - vectors to causative intrusive porphyry target
	Illustration TRDD032 target: Section line looking southeast through Figure 2 (a). Length ~1450m and width ~600m

Figure 3: Examples of key mineralised zones and vectors from hole TRDD031³  

i.	Volcanoclastic (pebbly) rocks with silica-magnetite alteration (dark-grey) with patchy epidote alteration (lime green), from 282m. Lower photo: close up @ 285m showing a bleb of purple bornite associated with epidote-quartz after K-feldspar (red-orange). Assay results pending.
ii.	Volcanoclastics (pebbly) with early silica-magnetite alteration over printed by patchy epidote (Ep, lime green) & K-feldspar (Kfs, orange-red) alteration from 327m. Lower photo: close up @ 330.6m with bleb of bornite (Bn, purple) associated with epidote (Ep)-quartz (Qt) after K-feldspar (Kfs, red-orange) & tourmaline (T, black). Assay results pending.
iii.	Volcanoclastics (pebbly) with early silica-magnetite alteration over printed by patchy epidote  (Ep, lime green) & K-feldspar (Kfs, orange-red) alteration. Lower photo: close up @ 334m with bleb of chalcopyrite (Cpy, yellow) associated with epidote (Ep)-quartz (Qz) after K-feldspar (Kfs, red-orange) & tourmaline (T, black). Assay results pending.
iv.	Middle Skarn (prograde) with magnetite (Mag, >50%)- garnet (Gn, olive)-minor pyrite & disseminated chalcopyrite, cut by later carbonate-quartz veins-with chalcopyrite (Cpy) from 777.4m. Assay results pending.
v.	Middle Skarn (medial) bands of alternating garnet (Gn, tan-brown), prehnite (light blue-green) & patchy magnetite (Mag, grey-black) cut by later retrograde quartz-carbonate-orthoclase-hematite veins & void fillings containing pyrite & chalcopyrite (Cpy) from 798m. Assay results pending.

Air-core drilling completed

As previously announced¹, a second rig had been mobilized to complete a shallow air-core drilling program to test priority areas of the wider intrusive complex to the north of Trundle Park at the Dunn's and Ravenswood South prospects, located 2km north and 5.5km north-west respectively. 

A total of 50 holes for 1,550 metres with average depths of only 31 metres have been completed. The program has followed up previous broadly spaced copper-gold geochemistry anomalies. 

All holes are interpreted to have inserted basement under shallow post-mineral cover (ranging from only 1.5 to 84 metres). The program has provided important new end of hole lithology and geological understanding, interpreted to be similar to the Trundle Park prospect, with prospective alteration, veining, magnetite and sulphides often noted in the chips and the end of hole samples of core. 

Dispatch of samples for assay geochemistry is scheduled for this week with results expected in a further 8 weeks.

The program is expected to better understand the potential for nearer surface intrusions, skarn altered zones and the extent of identified anomalous copper-gold mineralisation at open pit target depths within these prospect areas, where previous drilling has been broadly spaced relative to the nature of the narrow but vertically extensive Macquarie Arc porphyry model and similar coverage at Northparkes or Cadia. 

^1	February 22^nd, 2022, "New higher-grade gold-copper system extension confirmed and expanded"

121 Mining Investment APAC conference

Ahead of the upcoming 121 Mining Investment APAC online conference an updated corporate presentation, including further details on the Trundle project and recent drill results, is available at www.kincoracopper.com

Registration details for pre-booked, online 1-2-1 meetings with management at the upcoming conference are available at: www.weare121.com 

Table 2: Trundle Park target hole TRDD029 – Summary of significant intervals  

Porphyry gold and copper intercepts are calculated using a lower cut of 0.10g/t and/or 0.05% respectively. Internal dilution is below cut off; and, 1 Interpreted near surface skarn gold and copper intercepts are calculated using a lower cut of 0.20g/t and 0.10% respectively. Internal dilution is below cut off

Table 3: Trundle project - Collar Information

For further details, including QAQC procedures, please refer to the following press releases:

1.	July 6, 2020 - Kincora announces high-grade gold-copper results from first hole at Trundle
2.	July 23, 2020 - Kincora reports further strong encouragement at Trundle
3.	September 3, 2020 - Kincora provides update on expanded drilling program at Trundle
4.	November 30, 2020 - Kincora intersects broad mineralised zones at Trundle
5.	January 20, 2021 - Kincora intersects further shallow mineralization at Trundle
6.	March 2021 - Independent Technical Report for the ASX prospectus
7.	April 22, 2021 - Exploration Update
8.	July 8, 2021 - Exploration portfolio drilling update
9.	August 17 2021 - Significant gold-bearing intervals at Trundle Park
10.	December 7 2021 - Porphyry system extended to surface and depth at Trundle Park
11.	January 25, 2022 - Newly discovered higher-grade zones expand the large-scale gold-copper system at Trundle Park
12.	March 2022 - Further confirmation of new discovery and broad intervals at Trundle Park

Table 4: Visual estimates and descriptions of Figure 1 core from TRDD031

In relation to the disclosure of selected intervals of drill core and visual mineralisation, the Company cautions that estimates of sulphide mineral abundance and lithology from preliminary geological logging should not be considered a proxy for quantitative analysis of laboratory assay results or detailed petrology. Assay results are required to determine the actual widths and grade of the visual mineralisation.  Geological logging will be further calibrated with full assay, petrology results and further team review.

Trundle Project background

The Trundle Project is located in the Junee-Narromine volcanic belt of the Macquarie Arc, less than 30km from the mill at the Northparkes mines in a brownfield setting within the westerly rift separated part of the Northparkes Igneous Complex ("NIC"). The NIC hosts a mineral endowment of approximately 24Moz AuEq (at 0.6% Cu and 0.2g/t Au) and is Australia's second largest porphyry mine comprising of 22 discoveries, 9 of which with positive economics.

The Trundle Project includes one single license covering 167km² and was secured by Kincora in the March 2020 agreement with RareX Limited ("REE" on the ASX). Kincora is the operator, holds a 65% interest in the Trundle Project and is the sole funder until a positive scoping study is delivered at which time a fund or dilute joint venture will be formed.

For further information on the Trundle and Northparkes Projects please refer to Kincora's website:  https://kincoracopper.com/the-trundle-project/

This announcement has been authorised for release by the Board of Kincora Copper Limited (ARBN 645 457 763)

Forward-Looking Statements

Certain information regarding Kincora contained herein may constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements may include estimates, plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact. Although Kincora believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Kincora cautions that actual performance will be affected by a number of factors, most of which are beyond its control, and that future events and results may vary substantially from what Kincora currently foresees. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration results, continued availability of capital and financing and general economic, market or business conditions. The forward-looking statements are expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of the current date and is subject to change after that date. Kincora does not assume the obligation to revise or update these forward-looking statements, except as may be required under applicable securities laws.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) or the Australian Securities Exchange accepts responsibility for the adequacy or accuracy of this release.

Drilling, Assaying, Logging and QA/QC Procedures

Sampling and QA/QC procedures are carried out by Kincora Copper Limited, and its contractors, using the Company's protocols as per industry best practise.

All samples have been assayed at ALS Minerals Laboratories, delivered to Orange, NSW, Australia. In addition to internal checks by ALS, the Company incorporates a QA/QC sample protocol utilizing prepared standards and blanks for 5% of all assayed samples.

Diamond drilling was undertaken by DrillIt Consulting Pty Ltd, from Parkes, under the supervision of our field geologists. All drill core was logged to best industry standard by well-trained geologists and Kincora's drill core sampling protocol consisted a collection of samples over all of the logged core.

Sample interval selection was based on geological controls or mineralization or metre intervals, and/or guidance from the Technical Committee provided subsequent to daily drill and logging reports. Sample intervals are cut by the Company and delivered by the Company direct to ALS.

All reported assay results are performed by ALS and widths reported are drill core lengths. There is insufficient drilling data to date to demonstrate continuity of mineralised domains and determine the relationship between mineralization widths and intercept lengths.

True widths are not known at this stage.

Significant mineralised intervals for drilling at the Trundle project are reported based upon two different cut off grade criteria:

• Interpreted near surface skarn gold and copper intercepts are calculated using a lower cut of 0.20g/t and 0.10% respectively; and,
• Porphyry intrusion system gold and copper intercepts are calculated using a lower cut of 0.10g/t and 0.05% respectively.
• Significant mineralised intervals are reported with dilution on the basis of:
• Internal dilution is below the aforementioned respective cut off's; and,
• Dilutions related with core loss as flagged by a "*".

The following assay techniques have been adopted for drilling at the Trundle project:

• Gold: Au-AA24 (Fire assay), reported.
• Multiple elements: ME-ICP61 (4 acid digestion with ICP-AES analysis for 33 elements) and ME-MS61 (4 acid digestion with ICP-AES & ICP-MS analysis for 48 elements), the latter report for TRDD001 and former reported for holes TRDD002-TRDD022.
• Copper oxides and selected intervals with native copper: ME-ICP44 (Aqua regia digestion with ICP-AES analysis) has been assayed, but not reported.
• Assay results >10g/t gold and/or 1% copper are re-assayed.

Qualified Person

The scientific and technical information in this news release was prepared in accordance with the standards of the Canadian Institute of Mining, Metallurgy and Petroleum and National Instrument 43-101 – Standards of Disclosure for Mineral Projects ("NI 43-101") and was reviewed, verified and compiled by Kincora's geological staff under the supervision of Paul Cromie (BSc Hons. M.Sc. Economic Geology, PhD, member of the Australian Institute of Mining and Metallurgy and Society of Economic Geologists), Exploration Manager Australia, who is the Qualified Persons for the purpose of NI 43-101.

JORC Competent Person Statement

Information in this report that relates to Exploration Results, Mineral Resources or Ore Reserves has been reviewed and approved by Mr. Paul Cromie, a Qualified Person under the definition established by JORC and have sufficient experience which is relevant to the style of mineralization and type of deposit under consideration and to the activity being undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'.

Paul Cromie (BSc Hons. M.Sc. Economic Geology, PhD, member of the Australian Institute of Mining and Metallurgy and Society of Economic Geologists), is Exploration Manager Australia for the Company.

Mr. Paul Cromie consents to the inclusion in this report of the matters based on his information in the form and context in which it appears.

The review and verification process for the information disclosed herein for the Trundle, Fairholme and Nyngan projects have included the receipt of all material exploration data, results and sampling procedures of previous operators and review of such information by Kincora's geological staff using standard verification procedures.

JORC TABLE 1
Section 1 Sampling Techniques and Data
(Criteria in this section apply to all succeeding sections).

Criteria	JORC Code explanation	Commentary
Sampling techniques	Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling. Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. Aspects of the determination of mineralisation that are Material to the Public Report. In cases where 'industry standard' work has been done this would be relatively simple (e.g. 'reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay'). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information	Kincora Copper Limited is the operator of the Trundle Project, with drilling using diamond coring and Air coring methods by DrillIt Consulting Pty Ltd, from which sub-samples were taken over 2 m intervals and pulverised to produce suitable aliquots for fire assay and ICP-MS. Diamond drilling was used to obtain orientated samples from the ground, which was then structurally, geotechnically and geologically logged. Sample interval selection was based on geological controls and mineralization. Sampling was completed to industry standards with 1⁄4 core for PQ and HQ diameter diamond core and 1⁄2 core for NQ diameter diamond core sent to the lab for each sample interval. Samples were assayed via the following methods: Gold: Au-AA24 (Fire assay) Multiple elements: ME-ICP61 (4 acid digestion with ICP-AES analysis for 33 elements) and ME-MS61 (4 acid digestion with ICP-AES & ICP-MS analysis for 48 elements) Copper oxides and selected intervals with native copper: ME-ICP44 (Aqua regia digestion with ICP-AES analysis) has been assayed, but not reported Assay results >10g/t gold and/or 1% copper are re-assayed Historic sampling on other projects included soils, rock chips and drilling (aircore, RAB, RC and diamond core).
Drilling techniques	Drill type (e.g. core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc.).	Drilling by Kincora at Trundle used diamond core drilling with PQ, HQ and NQ diameter core depending on drilling depth and some shallow depth Air core drilling. All Kincora core was oriented using a Reflex ACE electronic tool. Historic drilling on Kincora projects used a variety of methods including aircore, rotary air blast, reverse circulation, and diamond core. Methods are clearly stated in the body of the previous reports with any historic exploration results.
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed. Measures taken to maximise sample recovery and ensure representative nature of the samples. Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	Drill Core recovery was logged. Diamond drill core recoveries are contained in the body of the announcement. Core recoveries were recorded by measuring the total length of recovered core expressed as a proportion of the drilled run length. Core recoveries for most of Kincora's drilling were in average over 96.9%, with two holes averaging 85.0% Poor recovery zones are generally associated with later fault zones and the upper oxidised parts of drill holes. There is no relationship between core recoveries and grades.
Logging	Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc.) photography. The total length and percentage of the relevant intersections logged.	All Kincora holes are geologically logged for their entire length including lithology, alteration, mineralisation (sulphides and oxides), veining and structure. Logging is mostly qualitative in nature, with some visual estimation of mineral proportions that is semi-quantitative. Measurements are taken on structures where core is orientated. All core and Air core chips are photographed. Historic drilling was logged with logging mostly recorded on paper in reports lodged with the NSW Department of Mines.
Sub-sampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken. If non-core, whether riffled, tube sampled, rotary split, etc. and whether sampled wet or dry. For all sample types, the nature, quality and appropriateness of the sample preparation technique. Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. Whether sample sizes are appropriate to the grain size of the material being sampled.	Once all geological information was extracted from the drill core, the sample intervals were cut with an Almonte automatic core saw, bagged and delivered to the laboratory. This is an appropriate sampling technique for this style of mineralization and is the industry standard for sampling of diamond drill core. PQ and HQ sub-samples were quarter core and NQ half core. Sample sizes are considered appropriate for the disseminated, generally fine-grained nature of mineralisation being sampled. Duplicate sampling on some native copper bearing intervals in TRDD001 was undertaken to determine if quarter core samples were representative, with results indicating that sampling precision was acceptable. No other duplicate samples were taken.
Quality of assay data and laboratory tests	The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.	Gold was determined by fire assay and a suite of other elements including Cu and Mo by 4-acid digest with ICP-AES finish at ALS laboratories in Orange and Brisbane. Over-grade Cu (>1%) was diluted and re-assayed by AAS. Techniques are considered total for all elements. Native copper mineralisation in TRDD001 was re-assayed to check for any effects of incomplete digestion and no issues were found. For holes up to TRDD007 every 20th sample was either a commercially supplied pulp standard or pulp blank. After TRDD007 coarse blanks were utilised. Results for blanks and standards are checked upon receipt of assay certificates. All standards have reported within certified limits of accuracy and precision. Historic assays on other projects were mostly gold by fire assay and other elements by ICP.
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel. The use of twinned holes. Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Discuss any adjustment to assay data.	Significant intercepts were calculated by Kincora's geological staff. No twinned holes have been completed. The intercepts have not been verified by independent personal. Logging data is captured digitally on electronic logging tablets and sampling data is captured on paper logs and transcribed to an electronic format into a relational database maintained at Kincora's Mongolian office. Transcribed data is verified by the logging geologist. Assay data is received from the laboratory in electronic format and uploaded to the master database. No adjustments to assay data have been made. Outstanding assays are outlined in the body of the announcement.
Location of data points	Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. Specification of the grid system used. Quality and adequacy of topographic control.	Collar positions are set up using a hand-held GPS and later picked up with a DGPS to less than 10cm horizontal and vertical accuracy. Drillholes are surveyed downhole every 30m using an electronic multi-shot magnetic instrument. Due to the presence of magnetite in some alteration zones, azimuth readings are occasionally unreliable and magnetic intensity data from the survey tool is used to identify these readings and flag them as such in the database. Grid system used is the Map Grid of Australia Zone 55, GDA 94 datum. Topography in the area of Trundle is near-flat and drill collar elevations provide adequate control
Data spacing and distribution	Data spacing for reporting of Exploration Results. Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. Whether sample compositing has been applied.	Kincora drilling at Trundle is at an early stage, with drill holes stepping out from previous mineralisation intercepts at various distances. Data spacing at this stage is insufficient to establish the continuity required for a Mineral Resource estimate. No sample compositing was applied to Kincora drilling. Historic drilling on Trundle and other projects was completed at various drill hole spacings and no other projects have spacing sufficient to establish a mineral resource.
Orientation of data in relation to geological structure	Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material.	The orientation of Kincora drilling at Trundle has changed as new information on the orientation of mineralisation and structures has become available. The angled drill holes were directed as best possible across the known lithological and interpreted mineralised structures. There does not appear to be a sampling bias introduced by hole orientation in that drilling not parallel to mineralised structures.
Sample security	The measures taken to ensure sample security.	Kincora staff or their contractors oversaw all stages of drill core sampling. Bagged samples were placed inside polyweave sacks that were zip-tied, stored in a locked container and then transported to the laboratory by Kincora field personnel.
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	Mining Associates has completed an review of sampling techniques and procedures dated January 31st, 2021, as outlined in the Independent Technical Report included in the ASX listing prospectus, which is available at: https://www.kincoracopper.com/investors/asx-prospectus

Section 2 Reporting of Exploration Results
(Criteria listed in the preceding section also apply to this section.)

Criteria	JORC Code explanation	Commentary
Mineral tenement and land tenure status	Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area.	Kincora holds three exploration licences in NSW and rights to a further six exploration licences through an agreement with RareX Limited (RareX, formerly known as Clancy Exploration). EL8222 (Trundle), EL6552 (Fairholme), EL6915 (Fairholme Manna), EL8502 (Jemalong), EL6661 (Cundumbul) and EL7748 (Condobolin) are in a JV with RareX where Kincora has a 65% interest in the respective 6 licenses and is the operator /sole funder of all further exploration until a positive scoping study or preliminary economic assessment ("PEA") on a project by project basis. Upon completion of PEA, a joint venture will be formed with standard funding/dilution and right of first refusal on transfers. EL8960 (Nevertire), EL8929 (Nyngan) and EL9320 (Mulla) are wholly owned by Kincora. All licences are in good standing and there are no known impediments to obtaining a licence to operate.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	All Kincora projects have had previous exploration work undertaken. The review and verification process for the information disclosed herein and of other parties for the Trundle project has included the receipt of all material exploration data, results and sampling procedures of previous operators and review of such information by Kincora's geological staff using standard verification procedures. Further details of exploration efforts and data of other parties are providing in the March 1^st, 2021, Independent Technical Report included in the ASX listing prospectus, which is available at: https://www.kincoracopper.com/investors/asx-prospectus
Geology	Deposit type, geological setting and style of mineralisation.	All projects ex EL7748 (Condobolin) are within the Macquarie Arc, part of the Lachlan Orogen. Rocks comprise successions of volcano-sedimentary rocks of Ordovician age intruded by suites of subduction arc-related intermediate to felsic intrusions of late Ordovician to early Silurian age. Kincora is exploring for porphyry-style copper and gold mineralisation, copper-gold skarn plus related high sulphidation and epithermal gold systems.
Drill hole Information	A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: easting and northing of the drill hole collar elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar dip and azimuth of the hole down hole length and interception depth hole length. If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	Detailed information on Kincora's drilling at Trundle is given in the body of the report.
Data aggregation methods	In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated. Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. The assumptions used for any reporting of metal equivalent values should be clearly stated.	For Kincora drilling at Trundle the following methods were used: Interpreted near-surface skarn gold-copper intercepts were aggregated using a cut-off grade of 0.20 g/t Au and 0.10% Cu respectively. Porphyry gold-copper intercepts were aggregated using a cut-off grade of 0.10 g/t Au and 0.05% Cu respectively. Internal dilution below cut off included was generally less than 25% of the total reported intersection length. Core loss was included as dilution at zero values. Average gold and copper grades calculated as averages weighted to sample lengths. Historic drilling results in other project areas are reported at different cut-off grades depending on the nature of mineralisation.
Relationship between mineralisation widths and intercept lengths	These relationships are particularly important in the reporting of Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg 'down hole length, true width not known').	Due to the uncertainty of mineralisation orientation, the true width of mineralisation is not known at Trundle. Intercepts from historic drilling reported at other projects are also of unknown true width.
Diagrams	Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	Relevant diagrams are included in the body of the report.
Balanced reporting	Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	Intercepts reported for Kincora's drilling at Trundle are zones of higher grade within unmineralised or weakly anomalous material.
Other substantive exploration data	Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	No other exploration data is considered material to the reporting of results at Trundle. Other data of interest to further exploration targeting is included in the body of the report. Historic exploration data coverage and results are included in the body of the report for Kincora's other projects.
Further work	The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling). Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	Drilling at the Mordialloc and Trundle Park targets are ongoing at the time of publication of this report and plans for further step-out drilling are in place at both the Trundle Park and Mordialloc prospects. Further drilling is proposed at other Trundle project areas, including air core programs at the Mordialloc, Dunns and Ravenswood South prospects, that have complementary but insufficiently tested geochemistry and geophysical targets with the aim to find: (a) and expand near surface copper-gold skarn mineralization overlying or adjacent to (b) underlying copper-gold porphyry systems.

SOURCE Kincora Copper Limited

Sam Spring, President and Chief Executive Officer, [email protected] or [phone]; For media enquiries: Media & Capital Partners, Angela East at [email protected]; Executive office, 400 - 837 West Hastings Street, Vancouver, BC V6C 3N6, Canada, Tel: [phone], Fax: [phone]; Subsidiary office Australia, Leydin Freyer Corp Pty Ltd, Level 4, 100 Albert Road, South Melbourne, Victoria 3205