Operations and financial review Nature of operations and principal activities Siren holds a large, strategic package of tenements along the under-explored 40km long Reefton and Lyell Goldfields, with permits covering a further 40kms of buried unmined Greenland Group rocks that potentially host gold mineralisation to the south of Blackwater. Key projects include Alexander River, Big River, Auld Creek, Lyell and Sams Creek. Operational Review Physicals In 2022 Siren completed over 3,000 soil samples, 300m of handheld trenching, 160-line kilometres passive seismic and ground magnetics combined, and 50 diamond drillholes for a total of 13,634m as shown in Table 1. Drilling was completed at Alexander River (35 holes for 10,108m), Big River (11 holes for 3,245m) and Sams Creek (4 holes for 281m). Table 1. 2022 Exploration Physicals. Physicals Unit 2022 Total Soil Samples No. 3,333 Rock Chips No. 289 Trenching lm 295 Geophysics lkm 159 Holes completed No. 50 Diamond Drilling m 13,634 Strategic Tenement Package Siren holds a large, strategic package of tenements in the Reefton, Lyell and Sams Creek Goldfields in the South Island of New Zealand. Western New Zealand was originally part of Gondwana and lay adjacent to eastern Australia until around 80Ma ago. The NWof the South Island of New Zealand comprises an area of predominantly early Palaeozoic rocks in broad northerly trending belts which terminate at the Alpine Fault (Figure 1). The Palaeozoic sequence is divided into the Buller Terrane, Takaka Central and Takaka Eastern Belts. Directors’ Report for the year ended 31 December 2022 Siren Gold Limited 4
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