Inflection Resources Ltd. provide an exploration update from its Carron gold project located in Northern Queensland, Australia. Exploration has been focused on two high-priority orogenic lode gold targets along trend from the historic Croydon gold mining district. The Carron project is located approximately 400 kilometres west of Cairns in Northern Queensland.

Inflection has identified a series untested orogenic potentially gold-bearing quartzvein and intrusion related gold targets on trend from the historic Croydon Goldfields, one of Queensland's more significant high-grade gold mining districts. Total production from theCroydon Goldfields after 1885 is reportedly over one million ounces from numerous quartz-veinl ode deposits reportedly with an average of 35 g/t Au. The Carron targets were generated by analysing data from a regional airborne magnetic survey completed by the Queensland Government.

The magnetic data outlined a series of large north-west trending magnetic anomalies under post-mineral sedimentary cover, which intermittently extend for over 30 kilometres. Consequently, the Company flew a 3,855-line kilometre air borne high-resolution magnetic survey with 50-metre line spacing for better target definition and to enable drill hole positioning. The high resolution airborne magnetic data was processed, and 3Dmagnetic vector inversion and conventional susceptibility inversion modelling completed.

Inflection has now completed four holes totalling 1,030 metres since the inception of the Carron drill program, although drilling has been paused during the northern Australian wet season when the project area is generally inaccessible. Best results reported from the recent holes include: 4m grading 0.083 g/t Au from 145m, in hole CADH004 which includes 1m grading0.123 g/t Au, 137.5 ppm As from 146m. This zone reported low magnetite susceptibility value ssuggestive of magnetite destruction by hydrothermal alteration.

The Company has engaged renowned geological consultants Dr. Gregg Morrison and Dr.Douglas Haynes to provide an interpretation of the drill results and recommendations for further drilling. The reports from these consultants are pending. It is anticipated additional drill targets will be drilled in the dry season which typically extends from May through to November.

Drill hole CADH003 tested a Croydon-style vein array target associated with an inferred magnetitedepleted zone on the flank of Bouguer Gravity anomaly low and a magnetic high. The hole targeted the margin of an inferred intrusion and intersected the unconformity at 138.85m downhole and a sequence of basement metasediments. A 6.8m structural zone was intersected from193.5 to 200.3m down-hole with 20% quartz veins and traces of arsenopyrite and pyrite.

Minorchalcopyrite was noted in the hanging wall of the structure from 163.5 to 198.3m down-hole and traces of red sphalerite from 182.1 to 193.5m. The structure was measured to strike 352 degree sand dip 500E which is broadly consistent with the attitude and dip of the Croydon gold-bearingvein deposits with the sphalerite and galena typical of that seen at Croydon. Hole CADH004 tested a Croydon style vein target which intersected the unconformity at 132.1mdown hole and terminated at 236.3m (Figure 2).

The lithologies throughout the basement were similar to hole CADH003. The target vein structure was intersected over a 7.6m zone from 186.2to 193.8m down-hole characterised by strongly brecciated quartz veins, similar to that encountered in CADH002; however, with low base metal sulphide content. Minor amounts of sphalerite, chalcopyrite and pyrite are associated with the quartz veins throughout the structure.

Drilling was conducted using a track-mounted multi-purpose drill rig. Mud rotary drilling wasutilised to drill through the cover sequence before transitioning to diamond drilling using NQ sizedcore at the unconformity. Core was preliminary logged on site before being transported to Dynamics G-Ex secure facility in Mt.

Isa, Queensland. Here the core was logged in detail,photographed, and marked before being cut to the Company's specified sample intervals byInflection staff. Half core samples were placed in bags with internationally certified blanks andstandards inserted.Samples were dispatched to ALS Laboratories in Townsville, Queensland, an accreditedanalytical laboratory meeting ISO/IEC 17025:2005 and ISO 9001:2015.

Samples were preparedby crushing and grinding via ALS methods CRU-32a and PUL-25c respectively. The pulps werethen assayed for 48 elements via ALS method ME-MS61 using a 25g sample after a four acidnear total digest with an ICP-MS finish. Gold was assayed by fire assay using ALS method Au-AA23 using a 30g sample charge and AAS finish.

Laboratory standards and QA-QC aremonitored by the Company. Coarse rejects from the sample preparation are subjected to SWIRand VNIR spectral analysis by AUSPEC. The core is stored in a secure lock-up facility in Mt.

Isa.