Siren Gold Limited Annual Report 2021

Big River (continued) Siren has estimated an Exploration Target of between 100koz and 125koz at a gold grade between 7-9g/t Au for Shoot 4 based on drill holes shown in Table 2. With additional drilling similar exploration targets could potentially be estimated on the other shoots. In 2022 around 7,000m of diamond drilling is planned to test these shoots to around 300m below the surface, with drilling commencing in quarter 1 through to the end of the year. The Company considers Big River has upside potential of 250koz to 500koz. Table 2. Big River drilling results (* drilled by OGL) Hole ID Shoot From (m) To (m) Interval (m) True thickness (m) Au (g/t) BRDDH003* 4 99.0 101.0 2.0 1.2 12.1 BRDDH004* 4a 128.0 131.0 3.0 2.5 5.6 4b 136.4 143.0 6.6 5.0 21.4 BRDDH005* 4 112.1 117.1 5.0 4.0 3.2 BRDDH009* 4a 147.0 150.0 3.0 2.0 18.5 4b 159.0 162.0 3.0 2.0 10.0 BRDDH011* 1 139.0 141.5 2.5 2.1 8.5 BRDDH012* 4 170.0 173.0 3.0 2.1 5.4 BRDDH020 A2 24.0 29.0 5.0 ? 4.2 BRDDH027 4a 142.2 148.2 6.0 5.0 5.1 4b 153.8 155.0 1.2 1.0 3.1 BRDDH031 A2 25.9 36.5 10.6 ? 1.3 A2 41.5 44.9 3.4 ? 2.5 BRDDH034 4 361.7 367.6 5.9 5.0 4.1 BRDDH035 4 374.8 381.2 6.4 5.2 3.7 Directors’ Report for the year ended 31 December 2021 Annual Report 2021 9