Aeris Annual Report 2022

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ORE RESERVE ESTIMATES The 2022 Group Ore Reserves Estimates take account of changes to the Mineral Resource base at individual deposits due to new drilling information, updated metal prices, changes to cut-off grades, mining depletion and changes to mine design. Ore Reserve Estimates are based on Mineral Resources classified as being either in the Measured or Indicated categories. In addition to changes attributable to the above-mentioned factors Group Ore Reserves have increased by 10.9Mt as a result of the acquisition of the Round Oak Minerals assets. All Mineral Resource that is available for conversion to Ore Reserve has been evaluated and is included in the Ore Reserve estimate where it meets economic and other criteria. GROUP ORE RESERVE ESTIMATES AT 30 JUNE 2022 Project Tritton Category GRADE CONTAINED METAL Tonnes (‘000) % Cu % Zn g/t Au g/t Ag kt Cu kt Zn koz Au koz Ag Proved 1,085 1.2 - 0.1 2.4 13 - 2 84 Probable 3,717 1.4 - 0.3 3.5 53 - 41 420 Total 4,802 1.4 - 0.3 3.3 67 - 43 504 Proved 199 - - 4.0 - - - 26 - Cracow Probable 622 - - 3.3 - - - 67 - Total 821 - - 3.5 - - - 92 - Proved 209 0.9 5.3 0.7 63 2 11 4 425 Jaguar Probable 519 1.0 7.6 0.6 71 5 40 10 1,191 Total 728 1.0 6.9 0.6 69 7 51 15 1,616 Proved 195 2.7 - 0.5 - 5 - 3 - North Qld Probable 335 2.4 - 0.4 - 8 - 4 - Total 529 2.5 - 0.4 - 13 - 7 - Proved 0 - - - - - - - - Stockman Probable 9,640 1.9 4.3 1.0 36 183 413 318 11,409 Total 9,640 1.9 4.3 1.0 36 183 413 318 11,409 AERIS ANNUAL REPORT 2022 Proved 1,688 1.2 0.7 0.6 9 20 11 35 509 Group Probable 14,833 1.7 3.1 0.9 27 249 453 440 13,020 Grand Total 16,520 1.6 2.8 0.9 25 270 464 475 13,529 Notes: 1. Cut-off grades vary between deposits and are selected based on economic analysis. They are not a break-even cut-off. 2. Discrepancy in summation may occur due to rounding. 3. Aeris acquired Round Oak Minerals (including the Jaguar and North Qld operations and the Stockman development project) on 1 July 2022. 26
SUMMARY OF COMPETENT PERSONS FOR 2022 GROUP MINERAL RESOURCE AND ORE RESERVE ESTIMATES ASSET COMPETENT PERSON QUALIFICATIONS MEMBERSHIP Tritton Operations Mineral Resource Tritton Murrawombie Budgerygar Angela Dimond BSc (Hons) MAusIMM Avoca Tank Budgery Constellation Brad Cox BSc (Hons) MAusIMM Ore Reserve Tritton Murrawombie U/G David Hume BSc (Hons) MAusIMM Budgerygar Murrawombie O/P Avoca Tank Ian Sheppard BSc (Hons) MAusIMM Cracow Operations Mineral Resource Cracow Western Vein Field Paul Napier BSc (Hons) MAusIMM Ore Reserve Cracow Western Vein Field Ian Sheppard BSc (Hons) MAusIMM Jaguar Operations Mineral Resource Bentley Turbo Triumph Teutonic Bore Kelly Bennett BSc (Hons) MAusIMM David Potter BSc (Hons) MAusIMM Ore Reserve Bentley Michael Leak BEng (Hons) FAusIMM North Queensland Copper Operations Mineral Resource Mt Colin Kelly Bennett BSc (Hons) MAusIMM Barbara (including LillyMay) David Potter BSc (Hons) MAusIMM Ore Reserve Mt Colin Aaron Layt BSC (Hons) MAusIMM Stockman Project Mineral Resource Wilga Currawong Bigfoot David Potter BSc (Hons) MAusIMM Eureka Ore Reserve Wilga Currawong John McKinstry BEng (Hons) MAusIMM ADVANCING AERIS 27
Page 1 and 2: Advancing Aeris 2022 Annual Report
Page 3 and 4: Contents 2022 HIGHLIGHTS IV EXECUTI
Page 5 and 6: Executive Chairman’s Letter To ou
Page 7 and 8: SECTION 1: FINANCIAL RESULTS During
Page 9 and 10: COVID-19 IMPACT The global COVID-19
Page 11 and 12: AVOCA TANK DEVELOPMENT The Avoca Ta
Page 13 and 14: EXPLORATION In FY2022, $13.5 millio
Page 15 and 16: MINERAL RESOURCE FOR THE CONSTELLAT
Page 17 and 18: CRACOW GOLD OPERATIONS The Cracow G
Page 19 and 20: SOUTHERN VEIN FIELD EXPLORATION Lim
Page 21 and 22: ADVANCING AERIS 17
Page 23 and 24: Jaguar Locations Map ADVANCING AERI
Page 25 and 26: STOCKMAN PROJECT The Stockman Proje
Page 27 and 28: ADVANCING AERIS 23
Page 29: MINERAL RESOURCE ESTIMATES The 2022
Page 33 and 34: WHAT DOES SUSTAINABILITY MEAN TO AE
Page 35 and 36: MINIMAL FOOTPRINT DESIGN Aeris has
Page 37 and 38: CARBON AND CLIMATE CHANGE Objective
Page 39 and 40: TRADITIONAL CUSTODIANS We acknowled
Page 41 and 42: INJURY RATES The total recordable i
Page 43 and 44: The Directors present their report,
Page 45 and 46: NAME, EXPERIENCE AND OTHER DIRECTOR
Page 47 and 48: SIGNIFICANT CHANGES IN THE STATE OF
Page 49 and 50: EXPLORATION The Tritton tenement pa
Page 51 and 52: EXPLORATION Since Aeris took owners
Page 53 and 54: FINANCIAL REVIEW During the financi
Page 55 and 56: MATERIAL BUSINESS RISKS Aeris prepa
Page 57 and 58: OPERATIONAL AND COST RISK The Compa
Page 59 and 60: SIGNIFICANT EVENTS AFTER THE BALANC
Page 61 and 62: NON-AUDIT SERVICES The Company may
Page 63 and 64: The Directors are pleased to presen
Page 65 and 66: REMUNERATION FRAMEWORK EXECUTIVE RE
Page 67 and 68: LONG TERM INCENTIVES (LTI) Previous
Page 69 and 70: Vesting Share price The number of P
Page 71 and 72: COMPANY PERFORMANCE AND REMUNERATIO
Page 73 and 74: DETAILS OF REMUNERATION Details of
Page 75 and 76: SHARE-BASED COMPENSATION Details of
Page 77 and 78: The Remuneration Committee consider
Page 79 and 80: Auditor’s Independence Declaratio
Page 81 and 82:
Aeris Resources Limited Contents 30
Page 83 and 84:
Aeris Resources Limited Consolidate
Page 85 and 86:
Aeris Resources Limited Consolidate
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Aeris Resources Limited Notes to th
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Independent auditor’s report To t
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● Due to fluctuations in profit,
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Other information The directors are
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ADVANCING AERIS 135
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HOLDING DISTRIBUTION HOLDINGS RANGE
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ADVANCING AERIS 139
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GLOSSARY $ or A$ Australian dollar
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DIRECTORS ANDRE LABUSCHAGNE ROBERT
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Aeris Annual Report 2022

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