ACQUISITION OF DINGO GOLD PROJECT

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1 BLINA MINERALS NL ASX ANNOUNCEMENT Board: 5 May 2017 David Porter (Executive Director) Brett Fraser (Non-Executive Chairman) Jay Stephenson (Non-Executive Director) Capital Structure: 2.52 Billion Shares 120 Million 0.17c exp 31/10/ Million 0.17c exp 18/12/17 ACQUISITION OF DINGO GOLD PROJECT Multiple significant drill results including: o YER143: 12.28g/t Au from 9m o YER158: 6.94g/t Au from 10m o YER159: 2.2g/t Au from 9m o DGR012: 2.69g/t Au from 8m Drill defined surficial gold mineralisation across an area of 400 by 300m o Gold mineralisation hosted in saprolite developed over syenite intrusive- primary mineralisation source yet to be defined Field based exploration program to commence imminently Re-processing of geophysical survey data underway ASX Code: BDI Blina Minerals NL ( Blina or the Company, ASX: BDI) is pleased to announce that it has acquired the highly prospective Dingo Gold Project, located in the Eastern Goldfields Region of Western Australia.

2 DINGO GOLD PROJECT OVERVIEW Location & Access The Dingo Gold Project is located approximately 160km north-north-east of Kalgoorlie, east of Yerilla and to the west of Mt Remarkable. Access from Kalgoorlie is via the Yarri Road, then Cranky Jack Road, the Kookynie-Yarri road and thence via station tracks. Tenure Figure 1: Dingo Project Location The Exploration Licence 31/1138 was granted on 26/04/2017 and covers a land area of 11.68km 2. Table 1: Tenement Summary Tenement Application Date Grant Date Expiry Area Km 2 E31/ /09/ /04/ /04/ Project Geology The Dingo Project is located within the western flank of the Kilkenny Tectonic Zone, a northnorth-western trending structural zone which has provided a conduit for mineralising fluids in the region. The Keith Tectonic Zone separates the Malcolm greenstone belt to the west from the Murrin greenstone belt to the east. 2 P a g e

3 Mineralisation The Dingo Gold mineralisation is associated with the McAuliffe Well Syenite. The mineralisation at Dingo has been defined occupying an area of 400x300m from a depth of 8m. Mineralisation is hosted in ferruginous, cemented rock and saprolite developed over the syenite. The syenite itself represents a far larger exploration target that warrants further investigation. The proto laterite is a brick red cement that ranges in thickness between 1 to 4m at a depth of 8 to 21m below the surface. The zone tends to be developed best at the top of the weathering profile and commonly merges downwards with pale clays suggesting a transition to the mottled zone. Scattered developing concretionary nodules are common. To date low grade syenite hosted gold mineralisation has been intersected over broad intervals beyond the levels of secondary enrichment. This has only undergone limited testing to date. Historical Exploration A total of 226 shallow RAB holes totalling 4,310m (maximum hole depth of 45m) have been completed across the Dingo Project. Significant (>0.5g/t Au RAB) results from drilling include: Table 2: >0.5g/t Au RAB Drill Results Hole From To Interval Au g/t DGR DGR DGR DGR DGR DGR DGR DGR DGR DGR DGR DGR DGR DGR DGR YER YER YER YER YER YER YER YER YER YER YER YER Figure 2: Drill Collar Plan Note: a full listing of results including those without significant intercepts are reported in Appendix 1: Dingo Drilling Results. 3 P a g e

4 Consideration A total of $20,000 cash consideration was paid for 100% acquisition of the Project. Contact For further information please contact: David Porter Executive Director or Competent Persons Statement: The information in this announcement that relates to the Exploration Results is based on information compiled and fairly represented by Mr Robert Jewson, who is a Member of the Australian Institute of Geoscientists and a consultant to Blina Minerals NL. Mr Robert Jewson has sufficient experience relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he has undertaken, to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Robert Jewson consents to the inclusion in this report of the matters based on this information in the form and context in which it appears. 4 P a g e

5 Appendix 1: Dingo Drilling Results Hole East North RL Depth Type Dip Azi From To Interval Au g/t DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB DGR RAB DGR RAB No Significant Intercepts DGR RAB DGR RAB No Significant Intercepts DGR RAB DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB DGR RAB No Significant Intercepts DGR RAB DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts 5 P a g e

6 Hole East North RL Depth Type Dip Azi From To Interval Au g/t DGR RAB No Significant Intercepts DGR RAB DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB DGR RAB DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts 6 P a g e

7 Hole East North RL Depth Type Dip Azi From To Interval Au g/t DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts DGR RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB YER RAB P a g e

8 Hole East North RL Depth Type Dip Azi From To Interval Au g/t YER RAB YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB YER RAB YER RAB YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB YER RAB YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts 8 P a g e

9 Hole East North RL Depth Type Dip Azi From To Interval Au g/t YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB YER RAB YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts YER RAB No Significant Intercepts 9 P a g e

10 JORC Code, 2012 Edition Table 1 Section 1 Sampling Techniques and Data (Criteria in this section apply to all succeeding sections.) Criteria JORC Code explanation Comments Sampling techniques Nature and quality of sampling (eg 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. RAB cutting were sampled initially on 4m composite intervals, one meter components of anomalous 4m composites were subsequently sampled individually. Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. No reference towards the sampling method or procedures were documented in historical reports. 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 (eg 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. In cases where industry standard work has been done this would be relatively simple (eg 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. Drilling techniques Drill type (eg core, reverse circulation, openhole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, facesampling bit or other type, whether core is oriented and if so, by what method, etc). RAB drilling was utilised to obtain a 4m composite interval, no references with respect to sample weights were reported in the historical reports. Samples were analysed for gold by aqua regia/aas. All 4m RAB samples (and subsequent 1m re-splits where relevant) were analysed using Aqua Regia digest with AAS finish. Rotary air blast drilling (RAB) was completed by Kennedy Drilling of Kalgoorlie. Drill recovery sample Method of recording and assessing core and chip sample recoveries and results assessed. No documentation on the sample recovery was reported in historical reports. Measures taken to maximise sample recovery and ensure representative nature of the samples. No documentation on the methods to maximise sample recovery was reported in historical reports. 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. No material bias has presently been recognised. 10 P a g e

11 Criteria JORC Code explanation Comments 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. Geological logging was completed at one meter intervals based on RAB chips. The exploration completed is reconnaissance in nature. Logging is qualitative in nature All sample intervals recovered from drilling were logging Sub-sampling techniques sample preparation and 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. No core drilling No documentation is available with respect to the sub sampling methodlogy in historical reports. For all sample types, the nature, quality and appropriateness of the sample preparation technique. No method of sample preparation method was documented. Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. No QAQC measures were documented 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. No field duplicates were reported within the historical reports. Whether sample sizes are appropriate to the grain size of the material being sampled. No documentation with respect to the sample size is available. 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. Aqua regia digest with AAS finish was used, this was industry standard at the point in time in which the analysis was completed for reconnaissance purpose. 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 (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established. No geophysical instruments used No QAQC procedures were documented. Verification sampling assaying of and The verification of significant intersections by either independent or alternative company personnel. Reported significant intercepts were originally reported in historical documents and were subsequently reviewed by Blina. The use of twinned holes. No twinned holes completed Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Data was sourced from scanned copies of original drill logs Discuss any adjustment to assay data. No adjustments were made to assay data presented in this report 11 P a g e

12 Criteria JORC Code explanation Comments Location of data points Data spacing and distribution 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. MGA94- zone 51 Drill holes were located based on a surveyed grid. These plans were scanned, referenced, digitised. Control points utilised for the registration were compared to land features and a high level of correlation was reported. Quality and adequacy of topographic control. A digital terrain model was generated from 1:100,000 topographic map. The quality of the DTM is sufficient for the stage of exploration for the Project. 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. Drilling was primarily on a 50m x 50m grid with variable depths. RAB holes commonly did not reach their target depth. Not attempting to establish a mineral resource only guide the prospectivity and future drilling Orientation of data in relation to geological structure Whether sample compositing has been applied. 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. No sample compositing is completed. No definitive orientation of mineralisation has been identified and therefore no bias has presently been recognized. The orientation of drilling is considered reasonable based on the style of exploration undertaken. Sample security The measures taken to ensure sample security. Audits or reviews The results of any audits or reviews of sampling techniques and data. No records available on the sample security chain of custody process. None conducted 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 Exploration done by other parties 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. Acknowledgment and appraisal of exploration by other parties. Blina Minerals NL is the 100% holder of E31/1138, a granted exploration licence. No third party rights, royalties or joint venture interests exist. No known impediments exist with respect to the exploration or development of the Dingo Gold Project. RAB drilling was completed by Metana Minerals 12 P a g e

13 Criteria JORC Code explanation Commentary Geology Deposit type, geological setting and style of mineralisation. Gold mineralisation at dingo occurs as a supergene enrichment between 4 and 9m below the surface, in the upper levels of the weathering profile, over syenite. 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: All drill hole location information including holes with no significant intercepts are reported in the body of the announcement. o easting and northing of the drill hole collar o elevation or RL (Reduced Level elevation above sea level in metres) of the drill hole collar o dip and azimuth of the hole o down hole length and interception depth o hole length. Data aggregation methods Relationship between mineralisation widths and intercept lengths 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. In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cutoff 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. These relationships are particularly important in the reporting of Exploration Results. All available information has been released, including drill holes with no significant intercepts. An arbitrary 0.5 g/t Au cut off grade for significant intercepts has been utilised for reporting purposes. Weighted averages were calculated by using a simple weighting of from and to distances down hole. Sample lengths are either 4m or 1, intervals. No top cuts were applied. No metal equivalence have been reported. At present the geometry of mineralisation and thus the true widths of mineralisation is not known. 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 ). The geometry of mineralisation is presently not understood. The drill intercepts show apparent, not true thickness of mineralisation. 13 P a g e

14 Criteria JORC Code explanation Commentary 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. 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. 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. Maps and plans have been included in announcement. All results including those without significant results have been reported. No other exploration data is considered meaningful and material to this announcement. Further work The nature and scale of planned further work (eg tests for lateral extensions or depth extensions or large-scale stepout drilling). A further evaluation of the available geological and geophysical data is underway prior to commencing field exploration activities. Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive. Further activities will be planned upon completion of the geophysical reprocessing and geological data evaluation process. 14 P a g e