SensOre : Quarterly Activities Report to 30 June 2022

ASX Announcement

28 JULY 2022

onlyQUARTERLY ACTIVITIES REPORT TO 30 JUNE 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.

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Highlights

• SensOre acquires Intrepid Geophysics to advance its client base and east coast presence
• Technology milestones achieved over the quarter:

1. Geochemistry data ingestion for Western Australia

• 1. Completion of discovery process with CGI (formerly Unico) to advance cloud-based platform
  1. Successful completion of Victoria pilot project in the Stawell and Ballarat gold corridors
• Services milestones achieved over the quarter:
• 1. Delivery of South Australia project to Aroha Resources, Argonaut Resources and Barton Gold
  1. Lithium targeting advanced to near completion for clients
• Exploration - multiple exploration campaigns continued at S3N's WA projects with many assays pending:
• 1. North Darlot - RC gold results confirm basement mineralisation and highlight untested potential
  1. Eaglehawk - 74 air core holes for a total of 6,480m. Assays pending
  1. Balagundi - 81 air core holes for a total of 3,778m. Assays pending

1. Maynards Dam/Marloo - 105 air core holes for 2,955m with a further 60 holes completed post-quarter end for a total of 5,288m drilled. Assays pending

1. Moonera - single mud rotary diamond hole (22MODD001) to a total depth of 733.10m. Assays pending

Figure 1: Wallis Drilling at SensOre's Moonera prospect in the Madura region, Western Australia

SensOre Ltd.	Level 3, 10 Queen Street, Melbourne VIC 3000 | T: [phone]	Sensore-ltd
ABN 16 637 198 531	Unit 6, 7 Tully Road, East Perth WA 6004 | T: [phone]	@OreSens
sensore.com	E: [e-mail]	ASX Code: S3N

Figure 2: Geochemical data sets over Western Australia

ASX Announcement

Geoscience technology disruptor SensOre (ASX:S3N) is pleased to present its quarterly activities report for the period ending 30 June 2022.

Over the quarter, SensOre demonstrated significant developments across its three business units of Technology, onlyServices and Exploration reinforcing the Company's ambition of becoming a top performing minerals targeting

company. SensOre announced the acquisition of Intrepid Geophysics - a significant step towards customer acquisition, data integration and revenue building. More information on this transaction is provided in the Corporate section of this report.

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.

useGSWA data ingestion milestone

SensOre's Technology division reached an important milestone during the quarter, completing a major update involving the cleaning and ingestion of valuable geochemical data into the Company's hyperdimensional Data Cube. The expanded Data Cube now includes 2021 released Geological Survey of Western Australia industry data across WA. The expanded Data Cube strengthens the AI-enhanced exploration services SensOre offers to its clients and partners.

personalForTechnology platform development

SensOre completed its discovery process with CGI (formerly Unico) to advance the Company's cloud-based platform. The project uses 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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Figure 3: Pilot project areas, Victoria, Australia

ASX Announcement

Victoria pilot project

SensOre and Intrepid Geophysics completed a successful pilot project in Victoria during the quarter, confirming the technological synergies and product complementarity between the two companies. The results of the pilot

onlyare expected to be deployed with clients in Q3 CY22, focussed on the highly prospective Stawell and Ballarat gold corridors. There is strong interest from prospective clients within these corridors.

usepersonalServices

SensOre works with several exploration and mining companies to offer AI-enhanced products and services. In doing so, SensOre aims to renew exploration pipelines and optimise exploration and discovery for its clients and partners.

Barton Gold partnership

SensOre completed Phase 1 prospectivity mapping objectives over the central Gawler Craton in South Australia, validating existing gold targets located on Barton's tenements and identifying multiple new gold and copper

targets across the 60,000km2 target area. The Barton Gold agreement is worth up to $400,000 in co-funding to

add data to the Company's SA Data Cube in the area surrounding Barton Gold's tenements. SensOre will also be Forentitled to additional royalty fees linked to gold ounces produced (or copper equivalent).

Deutsche Rohstoff JLE Venture

SensOre continued to progress works associated with the identification, acquisition and exploration of SensOre generated lithium targets in Western Australia (JLE Venture). Under the JLE Venture agreement, SensOre stands to benefit from Deutsche Rohstoff as a partner through agreed targeting, acquisition and geological consulting fees for a minimum of eight accepted lithium targets, worth $125,000 per target for a total of $1 million. The Company will hold an initial participating interest of 30%, with Deutsche Rohstoff holding the balance. A preliminary budget of $4 million has been agreed to fund exploration activity ($2.8 million contributed by Deutsche Rohstoff and $1.2 million by SensOre).

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ASX Announcement

Exploration

SensOre has built a tenement portfolio of wholly-owned and joint ventured SensOre Group projects in Western Australia. SensOre adopts a 'project generator' model, acquiring and exploring multiple targets and, where

onlyrequired, amplifying its reach by sharing exploration costs through joint ventures.1

Safety and environment

SensOre conducted field exploration activity with no reportable incidents in the quarter.

North Darlot

North Darlot is an early-stage,AI-target located between two major known gold fertile structures. As reported
on 22 June 2022 and 26 July 2022, results from the air core and RC drilling program highlighted the project's
potential to host mineralisation over a 5km strike length that remains untested by drilling.
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For	Figure 4: North Darlot project cross section 6934760mN looking north

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1 The Company's wholly owned and joint venture tenements remain in good standing at quarter-end. Other than as outlined in this announcement including Annexure 1, SensOre has not acquired or disposed of any tenements during the quarter and beneficial interests held by the SensOre Group in its tenements has not changed. Further details regarding SensOre Group tenements, including project locations, are set out in Annexure 1. Refer to the Independent Technical Assessment Report (ITAR) (Appendix A to the SensOre Prospectus released by ASX on 9 February 2022) for further SensOre Group project information. Other than as announced to the ASX in this quarterly and in relation to Balagundi (14 February 2022) and North Darlot (22 June 2022 and 26 July 2022) SensOre confirms that it is not aware of any new information or data that materially affects the SensOre Group project

information included in the ITAR.

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ASX Announcement

Balagundi

An air core drilling program was completed at the Balagundi and Central Balagundi projects with 81 holes drilled for a total of 3,778m. Q2 CY22 drilling followed results received in February 2022 from a first-pass,eight-hole RC

onlydrilling program completed at Balagundi in November 2021, details of which are outlined in SensOre's ASX announcement dated 14 February 2022. Multielement and gold assay results are anticipated in Q3 CY22.

Minimum expenditure commitment requirement under the Balagundi farm-in letter agreement was achieved during the quarter.

Eaglehawk

SensOre successfully completed an air core program comprising 74 holes for a total of 6,480m targeting the Eaglehawk prospect at the Tea Well JV project. Drilling was designed to test for gold mineralisation below cover

useover the large gravity low and weak gravity high identified due to a data sharing exercise between SensOre ntity Yilgarn Exploration Resources (YEV) and Great Boulder Resources. Eaglehawk is located along strike from

Great Boulder Resources' (ASX: GBR) Mulga Bill and Loaded Dog prospects (Side Well project), 650km northeast of Perth and 7km southeast of the 6.9Moz Meekatharra Gold Operations in the Murchison region of Western Australia. Further information regarding the program and project is available in SensOre's ASX announcement dated 19 May 2022.

A single line RC campaign was undertaken at the SensOre Group's proximate Sandstone Road project during the

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During the quarter, the Tea Well JV farm-in period was extended by mutual agreement from three to four years.

Maynards Dam & Marloo

As announced on 16 June 2022, SensOre commenced maiden air core drilling at the Maynards Dam and Marloo projects during the quarter. The project area is 90km southeast of Kalgoorlie and 25km east of Jindalee Resources' Widgiemooltha Project and Gold Fields' (JSE: GFI) St Ives gold complex. Historical drilling records at Maynards Dam indicate intercepts of up to 4m @ 21.21g/t Au from 22m.2 The Maynards Dam project together with Strauss and Lady Doris prospects as well as Paris mine are inferred to be in a similar stratigraphic sequence to St Ives and similar to the Revenge and Intrepide deposits. The targets predicted by SensOre's DPT® system are interpreted as potentially analogues for both St Ives and Norseman style gold systems consisting of intrusion related and structurally controlled auriferous quartz veins. A splay off the Boulder-Lefroy Fault, a regionally fertile structure in the Eastern Goldfields, passes down the western side of the project area.

The program completed post-quarter end, with 165 air core holes drilled for a total of 5,288m. Gold and multielement assays are anticipated in Q3 CY22.

ForFirst-year minimum expenditure commitment requirement under the Maynards Dam farm-in letter agreement was achieved during the quarter, noting an extension from JV partners was negotiated due to land access delays.

Moonera

A single mud rotary diamond hole (22MODD001) was completed by Wallis Drilling at Moonera during the quarter, successfully drilling through cover to basement to a total depth of 733.10m. The program was designed to test the large circular aeromagnetic and gravity anomalous geophysical features of the Moonera prospect and may confirm the presence of the predicted mineral system target in an area of extensive post mineral cover with very sparse drilling. Samples were submitted for petrology analysis and selected quarter core sent for assaying.

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2 PBC038. Refer to the Maynards Dam historical drilling summaries provided in the ITAR.

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