Siren Gold Limited Annual Report 2021

Golden Point The Golden Point exploration permit was granted in March 2021 and was previously part of the Reefton South prospecting permit. Golden Point Reef is located 3kms to the west of the Globe Progress mine that produced 420koz of gold from an historic underground mine and 700koz from a recent open pit mined by OGL. The Golden Point Reef was mined in the 1800’s where 1,357 tons of quartz was mined from a 1.1m thick reef to recover 410koz for an average grade of 9.4g/t Au. Mapping and soil sampling indicated that the reef extends for at least 2kms along strike. The Golden Point mineralised zone has never been drilled. Three diamond drillholes were completed during the December 2021 quarter for a total of 355m. The holes were drilled along an E-W line approximately 500m south of the Golden Point mine where there was access for a track mounted drill rig. GP02 intersected a mineralised zone between 29.9m and 36.3m (6.4m) with quartz veining on the hangingwall and footwall. Assays returned 2m @ 1.60g/t Au from 34m. This intersection confirms the mapping and soil geochemistry results and provides an exciting new target for 2022. GP03 was drilled between GP01 and GP02 to try and confirm the dip of the shear zone intersected in GP02. A mineralised zone was intersected between 53m and 57m that had moderate to strong arsenic. This indicates that the shear zone dips around 50 degrees to the west. Results for GP03 are awaited. Reefton South Prospecting Permit (PP) 60465 covers Early Ordovician Greenland Group rocks to the west of the Cumberland and famous Blackwater mines and buried Greenland Group rocks to the south of Blackwater. The Greenland Group rocks are interpreted to extend south of Blackwater, beneath a veneer of glacial moraine, and have not been explored for hard rock gold deposits. The two largest gold mines in the Lyell-Reefton goldfields; Globe Progress (~1.1 Moz) and Blackwater (740koz + inferred resource of 700koz) lie close to the cover boundary and it is unlikely that the gold mineralisation stops there. The Reefton South area also possesses a significant history of alluvial gold mining with an estimated 8Moz of gold recovered along the West Coast south of Reefton. Bell Hill The Bell Hill Prospecting Permit 60632 was granted in December 2021. The permit is located approximately 40 kms south of Reefton and abuts the southern boundary of the Reefton South permit (Figure 13). The project contains a continuation of the buried Greenland Group rocks found in the Reefton South permit. There has been no historical hard rock mining, but alluvial gold is mined from the overlying gravels sourced from Greenland Group. Waitahu The Waitahu Prospecting Permit 60759 was granted in December 2021 and covers the northern extension of the Golden Point reef under the cover. The historic mines at Reefton are potentially located on two mineralised corridors. The eastern corridor includes the Capleston, Crushington, Globe Progress, Cumberland and Big River mines and the western corridor extends from Reefton town south through the Golden Point, Morning Star, Blackwater and Homer mines. The eastern corridor potentially contains the thicker, high sulphur sheared deposits i.e., Globe / Big River style, while the western corridor contains low sulphur, narrow high-grade quartz veins i.e., Blackwater style. Directors’ Report for the year ended 31 December 2021 Annual Report 2021 17