#1૯ GOLDEN STATE MINING Broad Horizons Investor Presentation DDDDDDDDD Lead the charge Major Exploration Programs 2022 Lithium | Gold goldenstatemining.com.au#22 GOLDEN STATE MINING Disclaimer DDDDDDLead the charge Nature of Document: This presentation has been prepared and issued by Golden State Mining Limited (Company) to provide general information about the Company. The information in this document is in summary form and should not be relied upon as a complete and accurate representation of any matters that a reader should consider in evaluating the Company. While management has taken every effort to ensure the accuracy of the material in this presentation, the Company and its advisers have not verified the accuracy or completeness of the material contained in this presentation. Not an offer: This presentation and its contents are not an invitation, offer, solicitation or recommendation with respect to the purchase or sale of any securities in the Company in any jurisdiction and must not be distributed, transmitted, or viewed by any person in any jurisdiction where the distribution, transmission or viewing of this document would be unlawful under the securities or other laws of that or any other jurisdiction. This presentation is not a prospectus or any other offering document under Australian law (and will not be lodged with the Australian Securities and Investments Commission) or any other law. Not financial product advice: Neither the Company nor any of its related bodies corporate is licensed to provide financial product advice in respect of the Company's securities or any other financial products. You should not act and refrain from acting in reliance on this presentation. Nothing contained in this presentation constitutes investment, legal, tax or other advice. This presentation does not take into account the individual investment objectives, financial situation and particular needs of Company shareholders or investors. Before making a decision to invest in the Company at any time, you should conduct, with the assistance of your broker or other financial or professional adviser, your own investigation in light of your particular investment needs, objectives and financial circumstances and perform your own analysis of the Company before making any investment decision. Forward looking statements: This presentation contains forward-looking information about the Company and its operations. In certain cases, forward-looking information may be identified by such terms as "anticipates", "believes", "should", "could", "estimates", "target", "likely", "plan", "expects", "may", "intend", "shall", "will", or "would". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements are subject to risk factors associated with the Company's business, many of which are beyond the control of the Company. It is believed that the expectations reflected in these statements are reasonable, but they may be affected by a variety of variables and changes in underlying assumptions which could cause actual results or trends to differ materially from those expressed or implied in such statements. There can be no assurance that actual outcomes will not differ materially from these statements. No representation or warranty, express or implied, is made by the Company that the material contained in this presentation will be achieved or proved correct. Except for statutory liability which cannot be excluded, each of the Company, its directors, officers, employees, advisors and agents expressly disclaims any responsibility for the accuracy, fairness, sufficiency or completeness of the material contained in this presentation and excludes all liability whatsoever (including in negligence) for any loss or damage which may be suffered by any person as a consequence of any information in this presentation or any effort or omission therefrom. The Company will not update or keep current the information contained in this presentation or to correct any inaccuracy or omission which may become apparent, or to furnish any person with any further information. Any opinions expressed in the presentation are subject to change without notice. Where there are references to exploration results that refer to prior public reports or announcements, the company confirms that it is not aware of any new information or data that materially effects the information included in the relevant market announcement. Competent persons statement: The information in this presentation that relates to gold Exploration Results, is based on information compiled by Geoff Willetts who is a Member of the Australian Institute of Geoscientists (AIG). Geoff Willetts is the Exploration Manager, a full-time employee of Golden State Mining Limited (GSM) and holds shares and options in the Company. Geoff Willetts has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity currently being undertaken to qualify as a Competent Person as defined in the 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Geoff Willetts consents to the inclusion in this presentation of the matters based on his information in the form and context in which it appears. Information on previous explorers and historical results are summarised in the Independent Geologist's Report of the Golden State Mining Limited Prospectus dated 22 August 2018. The information in this presentation that relates to lithium Exploration Results, is based on information compiled by Dr. Marcus Sweetapple who is a Member of the Australian Institute of Geoscientists (AIG). Dr. Marcus Sweetapple is a consultant to Golden State Mining Limited (GSM). Dr. Marcus Sweetapple has sufficient experience relevant to the style of mineralisation and type of deposit under consideration and to the activity currently being undertaken to qualify as a Competent Person as defined in the 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Dr. Marcus Sweetapple consents to the inclusion in this presentation of the matters based on his information in the form and context in which it appears. Information on previous explorers and historical results are summarised in the Independent Geologist's Report of the Golden State Mining Limited Prospectus dated 22 August 2018. The release of this presentation was authorised by Mr. Michael Moore, Managing Director of Golden State Mining Limited.#3૯ GOLDEN STATE MINING Corporate Overview Golden State Mining Ltd (ASX:GSM) Listed in 2018, Golden State Mining is a lithium and gold exploration company focused on quality assets in Western Australia. Golden State holds a series of strategic land packages in very prospective geological settings around WA, including the Pilbara and Goldfields. GSM has an experienced team at the helm with a proven track record of exploration success. DDDDDLead the Top Shareholders Holder Board & Management % 4.3% Perth Select Seafoods 10.2% Mulloway 2.8% Stockhill 2.3% Top 20 Shareholders 35% Top 40 Shareholders 46% charge Capital Structure ASX Code Shares on Issue GSM $0.16 83.1 million $0.14 Options on Issue 17.0 million $0.12 Share price (5th April 2022) $0.11 Market Capitalisation $9.14 million $0.10 Cash (31st December 2021) ~$2.434 million $0.08 Listed Investments Enterprise Value ~$0.3 million $6.4 million Share Price History - Past 6 Months 11c Nov Dec 2022 Feb Mar Apr#4GOLDEN STATE MINING Lead the charge Investment Proposition Golden State Mining Limited is leading the charge in Western Australia, actively exploring a suite of prospective projects with a key focus on gold, lithium and battery metals ✓ Unique strategic footprint in proven minerals rich locations ✓ Strong lithium and gold exploration exposure ✓ Busy exploration pipeline, with lithium exploration program and gold soil sampling to ✓ commence soon Leadership team with proven track record of exploration success Tight register with only 83.1m shares on issue Material valuation upside to exploration success with Enterprise Value ~$5m#5GOLDEN STATE MINING Golden State Mining Projects 500 Kilometres Lead the charge Kununurra Unique strategic footprint in proven mineral rich locations Golden State Mining's mineral exploration landholding spans almost 5000km, in prime positions across WA Highlights include: Yule (Au-Li-Base Metals) in the Pilbara's Mallina Basin ✓ Four Mile Well (Au-Ni) near Laverton in the Goldfields ✓ Payne's Find (Li-Base Metals) ✓ A range of strategically identified projects targeted in prospective locations across the state ASHBURTON Pb-Ag-Au PORT HEDLAND Karratha BROOME YULE PROJECT Au, Ni, Co, Cu & Li ● Newman WESTERN AUSTRALIA Meekatharra⚫ MURCHISON JV Au WILUNA CUE PROJECT Au Mount Magnet Leinster Sandstone GERALDTON Port of Geraldton PAYNE'S FIND Li Laverton Leonora • KALGOORLIE Coolgardie Kambalda Northam PERTH SOUTHERN CROSS EAST - Au Norseman Bunbury ESPERANCE Albany Port of Esperance FOUR MILE WELL PROJECT- Au & Ni YAMARNA Au-Ni-PGE EUCLA Cu-Au-Ni#6૯ GOLDEN STATE MINING Lead the charge Strong lithium and gold exploration exposure Lithium - drilling imminent RC drilling set to commence shortly on Target 2 at Yule Project in the Pilbara Lithium-cesium-tantalum pegmatite (LCT) pathfinders in multiple AC drill holes at Yule Target 2, with an interpreted signature from a potential LCT pegmatite source Mallina Basin also home to Sayona Mining (ASX:SYA) and Morella Corporation's (ASX:1MC) Mallina Lithium Project - to be drill ready May 2022 Gold - sampling ahead There are several exciting gold targets at Yule, just 13km from De Grey Mining's (ASX:DEG) Hemi gold discovery, including Target 1, Target 2, Yule North and Yule East ■DEG Hemi mineral resource 192Mt @ 1.1g/t gold for 6.8 million ounces [DEG announcement June 23, 2021] ■ More gold exposure at Four Mile Well project near Laverton, where a ~4km by ~4km arsenic-bismuth +/- gold anomaly was identified. Soil program underway#7GOLDEN STATE MINING Activity Pipeline CY22 Lead the charge APRIL 2022 Soil sampling MAY 2022 Aircore drilling Four Mile Well gold project (Laverton, WA) ☑ Yule Target 2 lithium & gold (Pilbara, WA) MAY 2022 Lithium RC Drilling JUNE 2022 Yule Heritage Survey Payne's Find lithium & base metals (Murchison, WA) APRIL 2022 Soil sampling SEPT 2022 Yule Li & Au RC Drilling Golden State also compiling and reviewing historic data on five new WA application areas spanning~3,800km2#8← GOLDEN STATE MINING Yule North Gold Balla Yule Nickel, Cobalt & Copper Target 2 Lithium 625000mE Yule North (Gold) E47/3508 Balla Yule (Ni-Co-Cu) Quarry Well (Pb-Zn) YULE PROJECT Sholl Shear Zone 10 k res E47/3507 Target 2 (Au-Li) 444 Target 2 Gold ~730km² Projection: MGA Zone 50 (GDA94) Yule Project Tenement Outline Troy Anomaly >100ppb Au Dolerite Dykes Interpreted Ultramafics Interpreted Mafic Unit Yule River Shear Zone Interpreted Intrusive Tightly Folded Schist Sediments- Subordinate Mafics Mylonite Zone Mallina Basin Metasediments Sisters Supersuite Granite Carlindi Suite Sisters Supersuite Granite Portree Suite Maitland Supersuite Granite Split Rock Supersuite Granite Myanna Leucogranite Mallina Shear Zone 625000mE E47/4343 Phase 1 Drill Hole Phase 2 Drill Hole Phase 3 Drill Hole Drill Holes (Au ppb x Metres) > 1000 500 to 1000 250 to 500 100 to 250 < 100 Yule Project Lithium drilling upcoming 00 Yule East (Gold) Historic Au-As-Cu-Pb Anomlay E45/5570 7725000mN Yule River Shear Zone E47/3503 Target 1 (Gold) 77000oomN Hemi (Au) 65000omE Yule East Gold (EIS funding application) Target 1 Gold ~45,000m of AC & ~3,500m of RC 23 target areas tested +$3M spent on exploration so far | Target 2 priority - Lithium drilling planned May 2022 Exploration budget 2022 ~$1.5M#9← GOLDEN STATE MINING Lithium RC Drilling Yule Target 2 Lead the charge ◉ Four key areas within Yule Target 2 show signs of lithium potential – will be drill tested Target L1: Interpreted geological features analogous to lithium pegmatite settings at Wodgina and Mt Cassiterite deposits - also in Pilbara region Target L2: Strong Li-Cs-Rb anomaly analogous to Pilgangoora lithium deposit setting ■ Target L3: Apex of interpreted antiform feature ◉ Target L4: Magnetically quiet metasediment signature with adjacent structures - analogous to Mt Cassiterite lithium pegmatite 62500on Potential Low Magnetic Granite, Low Ca Suite. Pegmatite Source? E47/3507 7707500mN Andesite and Metasediments 2 Kilometres Projection: MGA Zone 50 (GDA94) Yule Project Tenement Outline Phase 1 and 2 Drill Holes Pegmatite Targets Basalt and Dolerite Folds; anticline, syncline 627500mE L3 630000mE 632500mE E47/4391 TARGET 2A Core of Mostly Metasediments E47/3503 7707500mN Elevated Rubidium on Granite Contact 630000mE OL4 Ooooo oooo ဝ ဝ ဝ ဝ ဝ ဝ ဝ ဝဝ Magnetic Low, Mostly Metasediments? Potential Flat Lying Pegmatites? GSM is currently preparing for a follow up reverse circulation (RC) drill program 632500mE TARGET 5 Basalt Between Granitoid Pultons#102 GOLDEN STATE MINING Golden potential Yule Target 2 Yule Target 2 has multi-commodity potential, with strong indicators for gold mineralisation in addition to its lithium pathfinders Large bedrock arsenic anomaly footprint detected, indicating gold potential Significant first pass gold intercepts in AC drilling - incl 4m @ 439ppb Au from 106m. Yule is close to De Grey Mining's (ASX:DEG) Mallina gold project (including the Hemi discovery), which has a mineral resource of 230Mt @ 1.2g/t gold for 9.0 million ounces* *DEG announcement June 23, 2021 626000mE 7708000mN E47/3507 Previous AC Result: 20GSYSAC0096 4m @ 439ppb Au fr 106m ☐ L1 Li-Rb-Cs Anomaly 7706000mN 628000mE L20 OPEN OL3 E47/4391 Lead the charge Phase 3 Drill Hole Phase 2 Drill Hole Phase 1 Drill Hole 630000m E47/3503 Drill Holes (Au ppb x Metres) > 1000 500 to 1000 250 to 500 100 to 250 <100 Folds; anticline, syncline Pegmatite Targets +100ppm As Anomaly Previous AC Result: 20GSYSAC0103 4m @ 135ppb Au fr 32m 1 Kilometre Projection: MGA Zone 50 GDA94) 630000mE EL40 Basalt and Dolerite See appendix for further information on Yule's remaining mineral targets ববব বব E#112 GOLDEN STATE MINING Four Mile Well Au-Ni project 260km² located near Laverton in WA's prolific Goldfields, soil work has commenced at this exciting gold-nickel project Review of historic geochemical data completed Coherent ~4km x ~4km and untested arsenic-bismuth +/- gold anomaly identified Anomaly appears to be open to the east Soil program underway, with potential for follow-up AC/RC drilling 6860000mN 6 5 Kilometres Projection: MGA Zone 51 (GDA94) GSM Tenements GSM Tenements Application As - Bi +/- Au Anomaly Soil Samples 4300oomE 4400oomE arsenic-bismuth +/- gold Lead the charge E38/3632 OPEN E38/3633 E38/3282 4300oomE 440000mE 6860000mN 6850000mN#122 GOLDEN STATE MINING 117°00'E 117°30'E 28°00'S Payne's Find New Lithium & Base Metals project ~1200km² in region where lithium pegmatites are known to exist, such as those at Mount Edon and Goodingnow Favourable geological setting for potential lithium mineralisation i.e. multiple granitic intrusive episodes ("late-stage") intruding into local greenstone terranes Base metal potential increased by recent Melaya discovery by Tempest Minerals (ASX:TEM) 30kms to west in 'hidden' greenstone on Big Bell Suite contact 28°30'S 29°00'S 29°30'S Geraldton Mount Magnet Road Golden Grove Meleya Discovery (ASX: TEM) Mount Magnet 5000con 5250mE 6825ongs 100 Golden Grove GSM Tenements Granted GSM Tenements Application Youanmi Temane Greenstones Operating Mines Gold Occurence · Lithium Occurence Major Roads Big Bell Suite 10 Kilometres Meleya Discovery (ASX (EM) 5500mE Kirkalocka 550000E Kirkalocka E59/2660 Wydgee North E59/2661 E59/2662 A 25 Kilore E59/2679 PAYNE'S FIN PAYNE'S FIND Rothsay Goodingnow Mt Edon E59/2680 DO'E 117°30'E 118°00'E +00 GSM Tenements Granted GSM Tenements Application Operating Mines Gold Occurence Lithium Occurence Major Roads Roads E59/2662 E59/2660 Wydgee North E59/2661 C 28°30'5#132 GOLDEN STATE MINING Leadership Team Lead the DDDDDDD charge has proven track record of success Mike Moore Managing Director B Eng (Hons) Mining Eng. ACSM MAusIMM MAICD ■ 20+ years of industry leadership experience including executive and CEO roles at listed mining companies Broad operations & project management experience from concept to full operational status Strong track record of delivering commercially sound projects whilst maintaining strict operational control ■ Career highlights include: Founder of GSM with +$10M raised Established new mineral sands project for Carnegie Minerals Plc in The Gambia, West Africa ■ Led complex +$40M geotechnical rehabilitation of Koolan Iron Ore mine in WA Qualified Mining Engineer from the Camborne School of Mines Currently Non-Executive Director of Variscan Mines (ASX:VAR) Geoff Willetts Exploration Manager BSc (Hons) App Geol MSc. Mining Geol MAIG 20+ years experience in various commodities including gold, base metals and mineral sands in WA ■ Senior production and resource development roles with major mining companies including Barrick Gold, Wiluna Mining & Tronox and exploration juniors Graynic Metals Ltd and Horseshoe Metals Ltd ■ Career highlights: Instrumental in delivering a 25% overall increase in the 6MOZ gold resource at the Wiluna mining centre ■ Delivered maiden JORC compliant resource at the Igloo copper/gold deposit for Graynic Metals Responsible for maiden copper resource at the Rinaldi deposit near Kumarina and a 45% increase in resources at the Horseshoe Lights copper/gold deposit with Horseshoe Metals Ltd ■ Master's degree in Mining Geology from the Camborne School of Mines and a Member of the Australian Institute of Geoscientists Damien Kelly Non-Exec Chairman BCom MBA CPA GDip App Fin & Inv Experience in corporate, financial and commercial management Brenton Siggs Non-Exec Director B App Sc App Geol MAIG MSEG 25+ years' exploration experience in the Australian resources industry Greg Hancock Non-Exec Director BA Econs B.Ed (Hons) F.Fin 25+ years' experience in capital markets practicing in the area of Corporate Finance#14GOLDEN STATE MINING Significant Exploration Summary + Exploration Priorities ◉ Strategic exposure in proven minerals rich locations across WA Strong lithium and gold exploration pipeline - money in the ground Leadership team with proven exploration track record Material valuation upside to exploration success ■ Four Mile Well soil sampling survey currently underway Follow-up AC or RC drilling Q2 Yule exploration Target 2A - Li & Au - RC drilling Q2 ☐ Balla Yule - Ni, Co, Cu & Li - AC & RC drilling Q4 Lead the charge in 2022 Yule East - Au - AC & DD drilling Q4 ☐ Payne's Find soil sampling Q2 Lithium & base metals Compile & review historic data on all five new application areas ~3,800km²#15D 44444 Lead the >>> charge Appendix#162 GOLDEN STATE MINING WA tenement applications Lead the>> charge#172 GOLDEN STATE MINING Eucla Basin Ni +/- PGE & Cu project Buried magnetic and gravity anomalies and structures have previously been identified (Teck Australia) but never drill tested Interpreted layered mafic-ultramafic intrusive with associated multiple high magnetic responses Located in the Albany-Fraser Province (host to Nova-Bollinger nickel-copper deposit and Tropicana gold deposit) Numerous magnetic dykes, each of which has the potential to host sulphide mineralisation 31°30'S GSM Tenements BHP Nickel West Gold Occurences Major Roads Roads Railroads 25 Kilometres EUCLA BASIN 124°30'E 125°00'E BALADONIA ~105KM KANADAH E28/3176 125°30'E SEEMORE DOWNS KINCLAVEN 31°00'S RAWLINNA BALGAI EXCISED AREA PONDANA E28/3175 124°30'E Eyre Highway 125°00'E 125°30'E 31°30'S 32°00'S#18← GOLDEN STATE MINING Southern Cross Au project Gold potential with negligible exploration previously completed ■ The interpreted structural setting is a thrust nose fold between pair of east- dipping thrusts Targeting dilational gold mineralisation traps occupying secondary structures within the fold nose, tapping the western-most thrust, including fold-axial plane weaknesses Overlooked due to minimal magnetic signature Lead the 119°30'E 120°00'E 120° 30°00'S GSM Tenements S charge MOUNT JACKSON Marda 30°30'S ENNUIN 31°00'S Corinthia CABINTA E77/2896 Operating Mines Major Roads Railroads N 25 Kinetres CREDO CARBINE Jaurdi Lost Dog E77/2897 OKOOLYANOBBING JAURDI SOUTHERN CROSS Frasers Aquarius Great Eastern Highway Battler 31°30'S Nevoria JILBADGIE MARVEL LOCH 119°30'E Norton Great Victoria Geko E77/2898 BULLABULLING Lloyd George 120°00'E 120°30'E SOUTHERN CROSS 0 Horizontal Length (m) 4000#19122°30'E 123°00'E 123°30'E Rosemont Garden Well Tooheys Well Erlistoun ← GOLDEN STATE MINING Yamarna Ni +/- PGE & Cu project Data compilation is currently underway to assess the merits of previous exploration on the Yamarna project tenure Mt Alexander nickel-copper project analogy, on the same crustal suture as Mt Alexander nickel sulphide discoveries Suture is distinctive and extensive, displaying a weak magnetic halo seen several kilometres either side of the sharp dyke signatures Mineralised ultramafic intrusions at Mt Alexander occupy the same structural weaknesses as the Proterozoic dykes and are nearly indistinguishable in the magnetics As seen at Mt Alexander, the host rocks here (interpreted as granitic in nature) are fractured and intruded by Proterozoic dykes 28°00 28°30'S 29°00'S E38/3670 E38/3071 WHITE CLIFFS LAVERTON DOWNS OLAVERTON Wallaby MOUNT WELD 25 Kilometres YAMARNA YALLEEN 28°00'S GSM Tenements S X Operating Mines Gold Occurence Sunrise Dam COGLIA WELL OUTCAMP Major Roads Roads 122°30'E 123°00 Lord Byron 123°3#20← GOLDEN STATE MINING Ashburton Ag-Pb-Zn project Nanutarra Tenement applications at Ashburton are considered prospective for volcanogenic massive sulphide (VMS) ore deposits. Potential VMS style mineralisation (Pb/Ag/Au) Targeting potential sediments hosts proximal to NW-SE basin bounding faults Known Pb/Ag mineralisation located to east at Kooline 23°00'S MEILGA 116°00'E BOOLALOO Paulsens 116°30'E 117°00'E Western Hub 22°30'S WYLOO Nanutarra Wittenoom Road ☐ KOOLINE GLEN FLORRIE MAROONAH ULLAWARRA E08/3456 Kooline 25 Kilometres PARABURDO0 ~145KM E08/3469 ASHBURTON 23°00'S GSM Tenements Operating Mines Major Roads Roads EDMUND Tracks 116°00'E 116°30'E 'E#212 GOLDEN STATE MINING D 44444 >>Leadthe >> [ charge Additional Yule project targets#22← GOLDEN STATE MINING Yule project Target 1 - Au Gold intervals and persistent sulphide mineralised zones have been hit during AC drilling at Target 1 ■ Mineralised diorite intrusive rocks confirmed at Target 1 East and West Persistent zones of sulphide mineralisation encountered at Target 1 East Numerous low grade gold vectors intersected Drilling Q4 2022 630000ME 7702000m N Target 1 West 20GSYSAC0202 4m @ 0.11g/t Au fr 109m 20GSYSAC0203 3m @ 0.10g/t Au fr 113m 20GSYSAC0214 4m @ 0.10g/t Au fr 94m 20GSYSAC0215 4m @ 0.10g/t Au fr 32m 21GSYSRC0011 1m @ 0.71g/t Au fr 27m Target 1 West Yule Project Tenements AC Drill Hole RC Drill Hole Phase 3 Drill Hole Phase 2 Drill Hole 21GSYSAC0338 4m @ 120ppb Au fr 28m 21GSYSAC0339 4m @ 200ppb Au fr 21m Lead the charge 632000E 634000mE 21GSYSAC0317 4m @ 200ppb Au fr 30m Target 1 East 20GSYSAC0002 4m @ 2.30g/t Au fr 99m incl. 1m @ 7.6g/t Au fr 99m 20GSYSAC0013 18m @ 0.17g/t Au fr 104m incl. 2m @ 0.28g/t Au fr 104m incl. 9m @ 0.26g/t Au fr 114m 20GSYSAC0028 4m @ 0.18g/t Au fr 46m and 4m @ 0.11g/t Au fr 70m and 4m @ 0.17g/t Au fr 82m 21GSYSAC0340 Target 1 4m @ 130ppb Au fr 39m 21GSYSAC0341 1m @ 120pbb Au fr 89m E47/3503 YULE PROJECT Map о Phase 1 Drill Hole Area 632000mE 21GSYSAC0335 21GSYSAC0331 6m @ 190ppb Au fr 24m 21GSYSRC0005 3m @ 0.29g/t Au fr 216m 21GSYSRC0006 4m @ 0.12g/t Au fr 62m 4m @ 110ppb Au fr 57m 1600 ☐ 21GSYSRC0002 2m @ 0.12g/t Au fr 78m 21GSYSAC0334 4m @ 110ppb Au fr 85m 634000mE 00 910 00 оо со о OOOOOOO Target 1 East 500 Metres Projection: MGA Zone 50 (GDA94)#232 GOLDEN STATE MINING Lead the charge 625000mE Yule North Area 1 - Au A new target area, gold was identified at Yule North Area 1 during recent AC drilling New target area at Yule North 4 metre low grade gold composite interval hosted in altered granitic intrusive Broad scope for follow up drilling as open in all directions Drilling Q4 2022 620000mE 622500mE Phase 3 Drill Hole Phase 2 Drill Hole Historic Drill Hole Drill Holes (Au ppb x Metres) > 1000 500 to 1000 250 to 500 100 to 250 < 100 Au Target Trend 21GSYNAC0101 4m @ 0.8g/t Au fr 74m Ni-Co-Cu Target BYRC003 Balla Yule Ni-Co-Cu Prospect 7737500mN 7735000mN Yule North Area 1 14m @ 0.51% Ni, 0.033% Co fr 38m incl. 4m @ 0.70% Ni, 0.054% Co fr 38m 7735000mN 2 Kilometre E47/3508 Projection: MGA Zone 50 (GDA94) 620000mE 622500mE 625000mE#24Lead the charge 640000mE Yule East Gold Structure 0.00 000 Area 1 21GSYEAC0018 8m @ 140ppb Au fr 83m OO Area 2 OPEN 21GSYEAG ]] Area 3 ← GOLDEN STATE MINING Yule East Target - Au The Yule East target hosts a series of interesting geological features Interpreted "pressure shadow" of a rigid granitic intrusion Proximal major feeder structure - 'Yule River Shear zone' Interpreted secondary dilational structures Anomalous gold and gold pathfinders intersected Kanowna Belle setting analogy Drilling Q3/Q4 2022 635000m E45/4343 21GSYEAC0005 1m @ 300ppb Au fr 114m 3000omN 5000 10000 Horizontal Length (m) 00#25620000mE 622500mE 625000mE A 2 GOLDEN STATE MINING Balla Yule Ni-Co-Cu Anomalous nickel-copper and lithium intersections have never been followed up at the Balla Yule target Interpreted layered mafic-ultramafic intrusive target Anomalous Ni-Co and Li intersections never followed up Petrographic study identified nickel & copper sulphide and pegmatite minerals EM surveys ineffective due to conductive cover LCT pegmatite potential Drilling Q4 2022 Phase 3 Drill Hole Phase 2 Drill Hole Historic Drill Hole Drill Holes (Au ppb x Metres) > 1000 500 to 1000 250 to 500 100 to 250 < 100 Au Target Trend 21GSYNAC0101 4m @ 0.8g/t Au fr 74m 2 Kilometre Projection: MGA Zone 50 (GDA94) 620000mE Ni-Co-Cu Target Balla Yule Ni-Co-Cu Prospect 7736125mN South Surface OMRL Sand Cover Top of Bedrock 7736250mN Lead the charge BYRC002 BYRC001 B 7736375mN North BYRC003 7737500mN Weathered Pyroxenite Top of Fresh Rock 14m @0.51% Ni and 0.033% Co fr 38m Incl. 4m @0.70% Ni and 0.054% Co fr 38m 106m -125mRL -250mRL Pyroxenite 237m Elevated Lithium Intersections 50 Metres -125mRL -250mRL Current Drill Hole Significant Interection BYRC003 14m @ 0.51% Ni, 0.033% Co fr 38m 7735000mN Yule North Area 1 incl. 4m @ 0.70% Ni, 0.054% Co fr 38m MLEM Conductor Interp -715 LIO> 200ppm 7735000mN 375mRL E47/3508 ☐ ☐ 622500mE 625000mE 500mRL -375mRL OMRL#26GOLDEN STATE MINING DDDDDDDDDDD DDDDDDD Lead the D charge Golden State Mining (ASX: GSM) Major Drilling Programs 2022 Lithium | Gold Thank you Join us in leading the charge to explore WA's geological frontiers. Phone +61 (08) 6323 2384 or visit goldenstatemining.com.au