Quarterly Activities Report to 31 March 2022

SensOre (ASX: S3N) aims to become the top performing global minerals targeting company through deployment of big data, artificial intelligence (AI)/machine learning technologies and geoscience expertise. AI-targets are leveraged through SensOre’s three business divisions: Technology, Services & Exploration.

• Major technology platform development project commenced in partnership with CGI and Intrepid Geophysics to unlock value from SensOre’s Data Cube and increase client engagements
• Client engagement milestones reached:
  • South Australia prospectivity mapping advanced towards completion (clients: Barton Gold, Hillgrove Resources, Argonaut Resources and Aroha Ltd)
  • Barton Gold commissioned for gold and copper DPT® in South Australia
  • Deutsche Rohstoff AG joint-venture for lithium exploration
  • BHP third and final iteration of nickel joint targeting agreement delivered
• Multiple exploration campaigns commenced at SensOre’s WA projects:
  • Mt Magnet North - diamond drilling completed, successfully identifying interpreted mineralised zone at depth, assays expected in late-April
  • Balagundi – results confirmed gold anomalism across large sections of the test area
  • Boodanoo – first-pass air core drilling completed, assays expected in Q2 CY22
• IPO completed, raising ~$7.5million (before costs) with ASX trading commencing 11 February 2022

TECHNOLOGY

SensOre’s technology applies advances in AI and machine learning to large geoscience datasets to increase discovery rates, reduce exploration costs and minimise the environmental footprint of exploration.

TECHNOLOGY PLATFORM DEVELOPMENT

As announced on 23 March 2022, SensOre signed an agreement with CGI/Unico to expand SensOre’s current client services to a cloud-based SaaS (software as a service) product. The contract is an important step in SensOre’s technology development roadmap. SensOre’s existing proprietary AI-enhanced technology is designed to advance the way companies integrate, interrogate and analyse geoscience data increasing the potential for mineral discovery. It is envisaged that development and deployment of the proprietary platform will open the door to scale the Company’s products and expand SensOre’s capacity to service mineral exploration companies in Australia and overseas, while reducing the Company’s unit cost per engagement. The project will involve using SensOre’s AI-driven technology to create a digital twin of the Earth’s surface, enhancing the way exploration companies identify and analyse mineral exploration targets with a focus on optimising the decision-making process in targeting.

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