Joint Venture Overview

Kangan Gold Project

The Kangan Project is located in the West Pilbara W.A: Under the farmin & JV agreement with Novo Resources Corp (TSXV:NVO, “Novo Resources”) and Sumitomo Corporation.

The parties will jointly fully fund gold exploration programmes until a decision to mine is made, with Pioneer retaining a 30% interest until the decision to mine.

Develop holds a 30% interest free-carried to a decision to mine with Novo Resources Corp (TSXV.NVO) and Sumitomo Corporation (TYO:8053) jointly holding a 70% interest with Novo managing the JV. Develop retain 100% of the rights to all minerals other than precious metals, including gold, which are the subject of this JV.

The Kangan JV forms a part of Novo Resources’ larger Egina Gold Project.

Joint Venture Overview

Balagundi Gold Project

Black Cat Syndicate Limited (ASX:BC8) is earning a 75% interest in the Project located at Bulong, near Kalgoorlie.

Black Cat will then fully fund gold exploration programmes until a decision to mine is made, with Develop retaining a 25% interest.

A Farm-in & Joint Venture agreement was signed with Black Cat Syndicate Limited (ASX: BC8) on 27 July 2019. Balagundi is located adjacent to Black Cat’s Bulong Gold Project. Upon Black Cat meeting the farm-in expenditure requirements, Develop will retain a 25% carried-free interest up to completion of a bankable feasibility study.

Joint Venture Overview

Larkinville Gold Project

Located southwest of Kambalda and northwest of Widgiemooltha, Larkinville hosts a modest Mineral Resource (JORC 2012 ) of 19,700 t @ 3.02 g/t for 11,600oz and has great potential to co-develop for near-term small-scale production. There is further exploration potential to increase the resource base and the deposit is open to the north and at-depth.

Develop holds a 25% interest in the gold rights and is free-carried to a decision to mine with Maximus Resources Ltd (ASX:MXR) holding a 70% interest and managing the JV.

Develop retain 100% of the rights to all minerals other than precious metals, including gold, which are the subject of this JV and nickel, which are subject to the Nickel JV with Maximus Resources.

Joint Venture Overview

Blair-Golden Ridge Nickel

Crest Investment Group 1 Pty Ltd is earning a 75% interest in the nickel rights on the Project.

Crest will then fully fund nickel exploration programmes until a decision to mine is made, with Develop retaining a 25% interest. Crest will manage the JV

Joint Venture Overview

Wattle Dam Nickel

The Wattle Dam Project tenements are located in the highly productive Kambalda nickel belt with world class nickel mines located nearby. Maximus Resources are actively exploring for gold and nickel on the Project tenure.

Develop holds a 20% interest in the nickel rights and is free-carried to a decision to mine with Maximus Resources Ltd (ASX:MXR) holding a 80% interest and managing the JV.