Siren Gold Limited Annual Report 2021

Note 2021 $ 2020 $ Cash flows from operating activities Payments to suppliers and employees (1,372,152) (1,077,091) Interest received 1,751 2,352 Interest paid (3,347) (2,091) Net cash used in operating activities 5b (1,373,748) (1,076,830) Cash flows from Investing activities Payments for exploration and evaluation (6,150,691) (1,312,930) Payments for property, plant and equipment (55,015) (170,474) Payments for bank guarantees (9,425) (112,518) Net cash used in investing activities (6,215,131) (1,595,922) Cash flows from financing activities Proceeds from issue of shares 4,721,530 12,012,991 Transaction Costs (189,000) (630,000) Payments for buy-back or reductions of share capital – (116,484) Proceeds from borrowings – 51,505 Repayment of borrowings (15,736) (1,532) Net cash provided from financing activities 4,516,794 11,316,480 Net increase/(decrease) in cash held (3,072,085) 8,643,728 Cash and cash equivalents at the beginning of the year 8,801,581 157,853 Cash and cash equivalents at the end of the year 5 5,729,496 8,801,581 The consolidated statement of cash flows is to be read in conjunction with the accompanying notes. Consolidated Statement of Cash Flows for the year ended 31 December 2021 Annual Report 2021 31