Quarterly Activities/Appendix 5B Cash Flow Report

Siren Gold Limited (ASX: SNG) (Siren or the Company) is pleased to provide the following summary of its activities for the three months ended 31 December 2023

Highlights

• Five diamond holes were completed at Auld Creek, with all five holes intersecting significant mineralisation in the Bonanza East Shoot.
  • ACDDH011 intersected 5m @ 4.1g/t Au, 7.0% Sb for 20.6g/t AuEq from 78.3m, including 3.1m @ 6.5g/t Au, 11.4% Sb for 33.4g/t AuEq.
  • ACDDH013 intersected 4.5m @ 1.6g/t Au, 1.7% Sb for 5.5g/t AuEq.
  • ACDDH014 intersected 2.7m @ 2.8g/t Au, 1.1% Sb for 5.3g/t AuEq.
  • ACDDH012 intersected 5m @ 2.1g/t Au from 18.7m.
  • ACDDH011 also intersected the footwall of the Fraternal Shoot and the base of the block model, returning 1.7m @ 3.6g/t Au, 1.7% Sb for 6.8g/t AuEq.
• Siren’s Reefton Mineral Resource estimate stands at 444koz of gold and 8.7kt of Sb for 511koz @ 4.4g/t AuEq, with Bonanza East still to be included.
• Siren’s maiden fieldwork at the Langdons prospect has recorded outstanding gold and antimony grades at surface of up to 506g/t Au and 9.3% Sb.
• An Ionic Leach soil survey recently carried out at Sams Creek has identified a second major Au-As-Mo anomaly at Anvil, similar to the Main Zone anomaly which contains a Mineral Resource Estimate (MRE) of 824koz @ 2.8g/t Au.
• The Anvil anomaly extends for at least 1km from the mineralised outcrop with significant rock chips recording up to 57g/t Au.
• The Anvil anomaly might represent a NE plunging mineralised fold hinge similar to the Main Zone located 1km to the east.
• Siren’s Global Mineral Resource estimate now stands at 1.27Moz of gold and 8.7kt of Sb for 1.33Moz @ 3.3 g/t AuEq (100% basis).
• Positive policy direction from the New Zealand Government and Ministers sworn in 27 November 2023, with key policy agreements to strengthen mining and regional development.
• The Hon Shane Jones, Minister for Resources, has expressed strong support for mining and critical mineral extraction in New Zealand.

Western New Zealand was originally part of Gondwana and lay adjacent to eastern Australia until around 80 Ma ago1. The NW of the South Island of New Zealand comprises an area of predominantly early Paleozoic rocks in broad northerly trending belts which terminate at the Alpine Fault (Figure 1). The Paleozoic sequence is divided into the Buller Terrane, Takaka Central and Takaka Eastern Belts.

These belts are interpreted to correspond with the Western, Central and Eastern belts of the Lachlan Fold Belt1. The Buller and Western Lachlan belts contain orogenic gold deposits like Bendigo, Ballarat and Fosterville in Australia and the Reefton and Lyell Goldfields in New Zealand. The Eastern Takaka and Eastern Lachlan belts host porphyry-Au and porphyry copper-gold deposits, like Cadia and Ridgeway, respectively.

There are two distinctive sub-types of orogenic gold mineralisation in Victoria. The deeper (6-12kms) mesothermal deposits that formed almost all the significant gold deposits in the Bendigo and Stawell zones and the shallower (<6km) epizonal gold and stibnite deposits in the Melbourne zone and eastern Bendigo zone, including the Fosterville and Costerfield mines. The latter gold mineralising event in Victoria is characterised by arsenopyrite and stibnite associated gold, which is very similar to the Reefton and Lyell mineralisation.

Siren holds a large (865km2), strategic package of tenements in the Reefton, Lyell and Sams Creek goldfields (Figures 28 and 29 and Annexure 1).

Siren’s Global Mineral Resource estimate now stands at 1.27Moz of gold and 8.7kt of antimony for 1.33Moz @ 3.3 g/t AuEq (100% basis) at a 1.5g/t cut-off.

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