BATTERY AGE MINERALS LTD — Capital/Financing Update 2021

Jun 15, 2021

16 June 2021

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Exploration Activity Update

Suite 4.01, Level 4 105 St Georges Terrace Perth, WA 6000

T. +61 (8) 6102 8072 E. info@pathfinderresources.com.au

Managing Director Shannon Green

Non-Executive Chairman Sufian Ahmad

Non-Executive Director Hugh Callaghan

Company Secretary Ailsa Osborne

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Enquiries regarding this announcement can be directed to:

Company Secretary Ailsa Osborne T. +61 (8) 6102 8072

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Follow @PF1_Pathfinder on Twitter

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• Field exploration works aim to identify extensions and equivalents to the King Tut mineralisation.

• Field exploration works aim to follow up on known and test for further sulphide occurrence indicators (Horatio Barite).

• The Company is well underway in the planning of an electromagnetic geophysical survey of the King Tut Project.

• The Company has undertaken considerable community and stakeholder relations work in our local communities. The Company’s activities and future plans have been very positively received and supported by these communities.

• Permitting for The Company’s maiden drilling program consisting of 6 diamond drill holes equating to approximately 1,000m is now at an advanced stage.

• During May and early June, the company continued to provide additional information requested by the authorities in support of the application.

Pathfinder Resources Ltd (ASX:PF1) (“ Pathfinder ” or the “ Company ”) is pleased to announce the next stage of field exploration activities has commenced.

The next stage of planned exploration field work will expand onto the highly prospective Diana II exploration permit. These works are integral to the Company’s plan to extend drilling post completion of the planned maiden Diamond Drilling Program at the King Tut Project.

Figure 1 below shows the location of the Dianna II tenement in relation to the historical King Tut high grade gold and cobalt mine.

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Figure 1: Dianna II tenement relative to the historic King Tut mine

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Project Background

The King Tut Project is located on the renowned metallogenic belt in the foothills of the Andean Mountains in Argentina. Altitude below 3,000m allows year-round access. Figure 2 below shows the project location in relation to the country and region.

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Figure 2: Location Map (Guille concession has expired, subject to renewal)

It was apparent, through the initial surface mapping program that provided the geological data for the maiden Diamond Drilling Program at the King Tut Project, that mineralised areas could extend well away from the known King Tut mine site and mining tenement.

On 25 January 2021, the Company announced the results of the Company’s maiden geological mapping and rock chip sampling program at the King Tut Project undertaken in late 2020. This exploration program confirmed the high-grade gold and cobalt mineralisation extends beyond the King Tut mine. Importantly, results of the geological mapping and sampling also defined the quartz-hosted mineralisation in a vein stack up to 120m wide and currently along a strike length of approximately 200m, however the strike extent remains open. See Figure 3 below.

Gold mineralisation appears to be consistent along strike and to the west of the King Tut mine, with several 20+g/t Au samples. Sampling at the series of stacked veins to the south of the King Tut mine also returned a number of samples in excess of 6g/t Au. Refer to the Company’s ASX announcement dated 25 January 2021 for a full list of assay results and JORC sampling and reporting information.

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Suite 4.01, Level 4, 105 St Georges Terrace, Perth WA 6000 T. +61 (8) 6102 8072 E. info@pathfinderresources.com.au

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Figure 3: Gold sampling assays location and mapped veins – King Tut Project

It was noted in the Independent Geological Report that earlier explorers had observed sulphides in creek lines and that a significant barite vein was mapped (Horatio Barite) for over 600m. No further work has been completed upon these resource targets.

The presence of Barite is a potential indicator of other forms of sulphide mineralisation, often porphyries.

The key outcomes of the exploration field works including geological mapping will be to:

• Identify the outcropping mineralisation of the areas adjacent to the King Tut mine and to map all associated geological units for a greater understanding of the form and nature of the mineralisation present.

• Undertake a further rock chip sampling program within the Dianna II tenement around the northern El Salto creek to determine the form and presence of sulphides.

• Define the extent of the Horatio Barite, and collect samples to define grade, ore quality and implications for identifying other mineralisation forms.

This exploration program undertaken at Diana II aims to establish the extent of potential mineralisation and provide more detail in the form of the deposits present, which in turn may be tested and confirmed by a drill program defining width, depth, and the potential size of the occurrences.

Figure 4 below shows the locations of previously identified occurrences and of the Horatio Barite relative to the historic King Tut mine.

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Suite 4.01, Level 4, 105 St Georges Terrace, Perth WA 6000 T. +61 (8) 6102 8072 E. info@pathfinderresources.com.au

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Figure 4: Known Horatio Barite Occurrence and Other Anomalous Mineralization Locations

Geophysics Program

Further to the next stage of planned exploration filed works the Company is well underway in the planning of an electromagnetic geophysical survey of the King Tut Project.

The last survey undertaken over a portion of the King Tut tenement in 1983 highlighted an anomalous response in the Southeast portion of the King Tut tenement. The planned survey will extend across the full King Tut tenement and into the Diana II tenement, an updated survey with modern equipment will further aid in defining the extension of the know sulphide mineralisation.

Maiden Diamond Drill Program Update

As previously announced the company is planning to undertake a maiden drilling program consisting of six (6) diamond drill holes equating to approximately 1,000m.

As shown in Figure 5, at the base, drill hole locations 2 / 2a are placed to target the main King Tut vein at depth. As the drill holes progress up the hill, there is increased potential of encountering multiple mineralised veins. Dips and strikes of these adjacent veins are similar to those described in the main King Tut vein, with the rock chip sampling suggesting Au/Co grades similar in nature.

Drill hole 3 is intended to intercept directly the historical King Tut mine workings and adjacent mapped mineralised veins.

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Suite 4.01, Level 4, 105 St Georges Terrace, Perth WA 6000 T. +61 (8) 6102 8072 E. info@pathfinderresources.com.au

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Figure 5: Cross Section A-A’ of proposed drill holes, King Tut Mine location.

Permitting for The Company’s maiden drilling program is now at an advanced stage with very constructive relationships having been established with all involved regulatory groups. During May and early June, the company has continued to provide additional information requested by the authorities in support of the application. Considerable work has been undertaken to satisfy all regulatory requirements including:

• The establishment of an Environmental Impact Assessment (ESIA)

• The establishment of a water management plan

• The establishment of a waste management plan

• A comprehensive community engagement program utilising highly respected independent experts to ensure that the Company could demonstrate that it had the communities support (social license) to undertake its planned activities.

Covid-19 has impacted progress due to restrictions of movements, lockdowns and closures of some administrative offices and functions, the Company’s people on the ground have worked tirelessly to minimise the impacts that Covid-19 have had.

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Suite 4.01, Level 4, 105 St Georges Terrace, Perth WA 6000 T. +61 (8) 6102 8072 E. info@pathfinderresources.com.au

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Environmentally and Socially Responsible Approach

As part of the permitting of the maiden Diamond Drill Program the team have continued engagements with key stakeholder and community groups in the province. To assist with the development of a comprehensive Social Management and Communication Plan ( SMCP ) the Company has contracted a local consulting group, Papi Group Latam Consulting, who have extensive experience with mining operations in Argentina.

The Company has established an environmental baseline water monitoring program. Monitoring activities throughout the program will provide confirmation to regulators and stakeholders of the Company’s compliance to environmental standards of work.

In addition, the Company is partnering with a local University on environmental controls and contributing to the academic formation of students by allowing access to the planned drilling activities.

Where possible the activities are centred around identifying opportunities within the local communities and contribute to development.

The Western Australian Government Department of Mines is progressing with the development of program in consultation with the La Rioja Province where the King Tut Project is located. The program is designed to facilitate the sharing of specialist knowledge, technical skills and regulatory know-how, the program will be undertaken with a series of live interactions, incorporating video presentations and Q&A sessions.

Appointment of Non-Executive Director – Hugh Callaghan

The Company on 4 June 2021, announced the appointment of Mr Hugh Callaghan as Non-Executive Director.

Mr. Callaghan was the founding director of Riversdale Mining Limited (formerly ASX: RIV) which sold to Rio Tinto for $3.9 billion. Hugh has a significant base of global resources experience with Rio Tinto and Xstrata that included roles in the USA, Canada, Chile, Brazil, and Australia. After retiring from Riversdale Mining Limited he has invested in and developed copper projects in Chile, and potash projects in West Africa and the USA. Hugh currently advises mining projects across base, precious metals and bulk minerals in the Americas and led a team that built a silver, zinc and lead mine in Mexico.

Mr. Callaghan has significant ASX experience including being a Director of Acacia Coal Limited (March 2017 to December 2017), GSF Corporation (February 2009 to June 2009), Tamaya Resources Limited (May 2006 to October 2008) and Riversdale Mining Limited (April 2004 to August 2006).

Mr. Callaghan is currently based in the Americas affording him with easy access to our project in Argentina.

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This announcement has been approved by the Board of Pathfinder Resources Ltd.

For further information, please contact:

Shannon Green | Managing Director

Phone : +61 (8) 6102 8072 Email : info@pathfinderresources.com.au www.pathfinderresources.com.au

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Suite 4.01, Level 4, 105 St Georges Terrace, Perth WA 6000 T. +61 (8) 6102 8072 E. info@pathfinderresources.com.au

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Forward Looking Statements

Information included in this release constitutes forward-looking statements. Often, but not always, forward looking statements can generally be identified by the use of forward looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “continue”, and “guidance”, or other similar words and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production outputs.

Forward looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance and achievements to differ materially from any future results, performance or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licenses and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which the company operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation.

Forward looking statements are based on the Company and its management’s good faith assumptions relating to the financial, market, regulatory and other relevant environments that will exist and affect the Company’s business and operations in the future. The Company does not give any assurance that the assumptions on which forward looking statements are based will prove to be correct, or that the Company’s business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the Company or management or beyond the Company’s control.

Although the Company attempts and has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in forward looking statements, there may be other factors that could cause actual results, performance, achievements or events not to be as anticipated, estimated or intended, and many events are beyond the reasonable control of the Company. Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Forward looking statements in these materials speak only at the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the company does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.

Competent Person Statement

The information in this report which relates to Exploration Results at the King Tut Project was based on information compiled by Mr Mark Gifford who is a Fellow of the Australasian Institute of Mining and Metallurgy (AusIMM) and an independent consulting geologist to the Company. Mr Gifford has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking 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’ (the JORC Code). The Company confirms that it is not aware of any new information or data that materially affects the information in the relevant market announcement.

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Suite 4.01, Level 4, 105 St Georges Terrace, Perth WA 6000 T. +61 (8) 6102 8072 E. info@pathfinderresources.com.au

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