DELTA LITHIUM LIMITED — Capital/Financing Update 2024

Nov 13, 2024

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ASX ANNOUNCEMENT
14 November 2024
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Activities Update from Mt Ida Gold Project

Highlights:

• Fully permitted Baldock Area resources continue to grow through current drilling programs

• Initial focus is expanding the current Baldock gold resource which sits at 4.8Mt @ 4.4g/t Au for 674,000 oz

• The first batch of extensional drilling results from Stage 1 include;

• 2m @ 9.3g/t Au from 83m in IDRD309

• 1m @ 6.5g/t Au from 197m in IDRD310

• 5m @ 4.7 g/t from 38m in IDRD321

  • Including 2m @ 10.3g/t Au from 38m

• 2m @ 4.1g/t Au from 31m in IDRD352

• 1m @ 9.3 g/t Au from 140m in IDRD330

• 1m @ 8.8g/t Au from 308m in IDRD327

• Project Development activities continue with Works Approval process underway and hydro drilling commencing

Delta Lithium Limited (ASX: DLI) (“Delta” or the “Company”) , is pleased to provide an update for the ongoing exploration activities at its 100% owned Lithium and Gold Mt Ida Project in the Goldfields region of Western Australia. The Mt Ida Project gold resource is “shovel ready’ and the ongoing drill programs aim to grow the resource base to standalone scale while development activities progress concurrent with a Strategic Review. The Strategic Review is assessing the best path to deliver shareholder value from the gold resource and is in line with Delta’s principal focus on its lithium assets.

Recent drilling at Baldock continues to provide high-grade results extending known mineralisation both along strike and at depth. In particular, these initial results have confirmed shallow, high-grade continuous mineralisation 300m South of the Baldock 086 resource. Recent highlights can be seen below in Figure 1, with a full list of results in Appendix 3.

Commenting on the results Managing Director, James Croser said;

“Stage 1 results from this drilling campaign have delivered positive, shallow extensions, north and south of the current resources at Baldock, with that resource remaining open at the surface extents. These highlighted holes are expected to represent modest additions to the current resource model.

We will now shift our focus towards advancing Stage 2 and 3 of the drilling campaign, targeting deeper mineralisation that is of higher-grade material proximal to the anticipated mining areas at Baldock. The current program is expected to break over the Christmas period and recommence in early January with an expected completion in the first quarter of calendar year 2025 after the planned regional phase.

The team’s exploration success throughout the year has provided us the opportunity to complete further drilling at Mt Ida concurrent with our strategic review. I am very proud of the tireless effort by our exploration team and look forward to providing further updates to the market as we continue to execute on our key objective of growing the existing resource.”

1. Refer ASX Announcement 3 October 2023 titled ‘Mt Ida Mineral Resource Estimate Update’

2. Refer to Appendix 1 for full drill hole information

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Mount Ida Activities Update

Mt Ida is located approximately 240km north of Kalgoorlie in Western Australia. The Project area resides on granted mining leases and is fully permitted for commencement of open pit and underground mining at Baldock. One reverse circulation (RC) rig and one Diamond Drill (DD) rig are currently operating at the project carrying out resource extensional and exploration programs.

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Figure 1: Location of Mount Ida Project

The Company is undertaking a four-stage drill program consisting of approximately 35-40,000 drill metres including both RC and diamond drilling at Baldock, then regional RC drilling across the wider Mt Ida tenure including Kestrel and Golden Vale. Stage 1 is almost complete, and Stages 2 & 3 are underway. Stage 2 will aim to further extend the existing JORC resources at Baldock and Kestrel while Stage 3 is focusing on deeper high-grade chutes at Baldock via diamond drilling from RC pre-collars.

The first batch of assays have been returned which are highlighted in Figure 2 below. Drilling to date has demonstrated continuity and confirmed the extension of mineralisation beyond the current MRE, both along strike and at depth. In particular, recent results following up on historical drilling has confirmed shallow, high-grade mineralisation to the South of Baldock.

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Figure 2: Section showing historic and new Significant Intersections proximal to the Baldock resource

Upon completion of Stages 2 & 3, the RC rig will commence Stage 4 to complete first pass drilling programs across the highest priority regional prospects (Figure 3), all of which are within a 12km radius of the Baldock hub. These initial programs will aim to delineate further resources from five regional prospects across the Mt Ida tenure with many other prospects to be tested in future. Current planned programs are anticipated to be completed by early CY25 which will be followed by an updated gold Mineral Resource Estimate for the Mt Ida Project.

Project development studies are progressing well with the current focus on;

• Submittal of a Works Approval for a Processing Plant & Tails Storage Facility (Integrated Waste Landform)

• PFS UG Geotechnical Assessment

These work streams are being completed alongside current programs with the intention to have all modifying factors at or above PFS level to support the release of a maiden reserve statement by Mid CY25.

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Figure 3: Plan showing the potential Baldock mining hub, surrounding JORC Resources and planned regional drilling

Strategic Review

The Company is currently conducting a Strategic Review of the Mt Ida gold asset, led by Bell Potter with the aim of establishing the optimal pathway forward, and to maximise shareholder value in the current strong gold price environment.

This process is anticipated to be completed in coming weeks with the Board using the outcome of the Review to determine next steps.

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ASX ANNOUNCEMENT
14 November 2024
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Next Steps

• Complete Stages 2 - 4 of drilling

• Complete Strategic Review and assess results

• Carry out geological modelling & release an updated Au MRE

• Complete infill resource conversion drilling

• Increase Geotechnical UG assessment to PFS level

• Release of a PFS and a Maiden Reserve Statement CY25

Release authorised by the Managing Director on behalf of the Board of Delta Lithium Limited.

For further information, please contact: Delta Lithium Investor/Media Enquiries James Croser, Managing Director Sodali & Co Peter Gilford, CFO & Company Secretary Michael Weir +61 402 347 032 +61 8 6109 0104 info@deltalithium.com.au

About Delta Lithium

Delta Lithium (ASX: DLI) is an exploration and development company focused on bringing high-quality, lithium-bearing pegmatite deposits, located in Western Australia, into production. With current global JORC compliant resources of 40.4Mt@1.1%Li2O, strong balance sheet and an experienced team driving the exploration and development workstreams, Delta Lithium is rapidly advancing its Lithium Projects. The Mt Ida Lithium Project holds a critical advantage over other lithium developers with existing Mining Leases and an approved Mining Proposal. Delta Lithium is pursuing a development pathway to unlock maximum value for shareholders.

Delta Lithium also holds the highly prospective Yinnetharra Lithium Project that is already showing signs of becoming one of Australia’s most exciting lithium regions. The Company has recommenced exploration activities at Yinnetharra in the new calendar year, and an extensive multi-rig campaign will be ongoing throughout 2024 to test additional targets and build on the Maiden Resource released in December 2023.

Competent Person's Statement

Information in this Announcement that relates to exploration results is based upon work undertaken by Mr. Shane Murray, a Competent Person who is a Member of the Australasian Institute of Geosciences (AIG). Mr. Murray has sufficient experience that 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. (JORC Code). Mr. Murray is an employee of Delta Lithium Limited and consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.

Refer to www.deltalithium.com.au for past ASX announcements.

Past Exploration results and Mineral Resource Estimates reported in this announcement have been previously prepared and disclosed by Delta Lithium in accordance with JORC 2012. The Company confirms that it is not aware of any new information or data that materially affects the information included in these market announcements. The Company confirms that the form and content in which the Competent Person's findings are presented here have not been materially modified from the original market announcement, and all material assumptions and technical parameters underpinning Mineral Resource Estimates in the relevant market announcement continue to apply and have not materially changed. Refer to www.deltalithium.com.au for details on past exploration results and Mineral Resource Estimates.

Disclaimer

This release may include forward-looking and aspirational statements. These statements are based on Delta Lithium management’s expectations and beliefs concerning future events as of the time of the release of this announcement. Forward-looking and aspirational statements are necessarily subject to risks, uncertainties and other factors, some of which are outside the control of Delta Lithium, which could cause actual results to differ materially from such statements. Delta Lithium makes no undertaking to subsequently update or revise the forward looking or aspirational statements made in this release to reflect events or circumstances after the date of this release, except as required by applicable laws and the ASX Listing

Refer to www.deltalithium.com.au for past ASX announcements.

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Appendix 1 Lithium MRE summary table

	Delta Lithium Group Mineral Resource estimate	Delta Lithium Group Mineral Resource estimate	Delta Lithium Group Mineral Resource estimate	Delta Lithium Group Mineral Resource estimate	Delta Lithium Group Mineral Resource estimate	Delta Lithium Group Mineral Resource estimate
		Cut-off	Li2O			Ta2O5
	Resource category	grade	Tonnes	Grade	Li2O	Grade
		(Li2O%)	(Mt)	(% Li2O)	(Kt)	(Ta2O5 ppm)
Yinnetharra	Measured	0.5	-	-	-	-
	Indicated		6.7	1.0	65	51
	Inferred		19.0	1.0	181	67
	Total Resource		25.7	1.0	246	62
Mt Ida	Measured	0.5	-	-	-	-
	Indicated		7.8	1.3	104	224
	Inferred		6.8	1.1	76	154
	Total Resource		14.6	1.2	180	191
	Total Measured		-	-	-	-
	Total Indicated		14.5	1.2	169	144
	Total Inferred		25.8	1.0	257	90
	Total		40.4	1.1	426	109

Notes: Tonnages and grades have been rounded to reflect the relative uncertainty of the estimate. Inconsistencies in the totals are due to rounding.

Appendix 2 Mt Ida Gold MRE summary table

Cut off	Deposit	Indicated	Indicated	Indicated	Inferred	Inferred	Inferred	Total	Total	Total
		Tonnes	Grade	Ounces	Tonnes	Grade	Ounces	Tonnes	Grade	Ounces
		(000s)	g/t Au	(000s)	(000s)	g/t Au	(000s)	(000s)	g/t Au	(000s)
Open Pit Au 0.5 g/t	Baldock	1,345	4.9	209.0	1,512	3.2	158	2,857	4.0	367
	Kestrel	-	-	-	570	1.6	29	570	1.6	29
	Golden Vale	-	-	-	496	1.7	27	496	1.7	27
0.0 g/t Au Cut off	Mt Ida Tailings	-	-	-	500	0.5	8	500	0.5	8
Underground 1.5 g/t Au	Baldock	180	5.8	33.0	1,780	4.8	274	1,960	4.9	307
	Kestrel	-	-	-	220	1.9	14	220	1.9	14
	Golden Vale	-	-	-	-	-	-	-	-	-
All	Mt Ida Tailings				500	0.5	8	500	0.5	8
	Baldock	1,525	4.9	242.0	3,292	4.1	432	4,817	4.4	674
	Kestrel	-	-	-	790	1.7	43	790	1.7	43
	Golden Vale	-	-	-	496	1.7	27	496	1.7	27
	Total	1,525	4.9	242.0	5,078	3.1	510	6,603	3.5	752

Notes:

Tonnages and grades have been rounded to reflect the relative uncertainty of the estimate. Inconsistencies in the totals are due to rounding.

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Appendix 3 Recent Drilling Information

HoleID		From	To	Length	**Augpt **	**Cuppm **
IDRD306		17	18	1	0.55	313
	and	42	43	1	0.62	6710
	and	52	53	1	0.78	631
IDRD307		60	68	8	1.16	595
IDRD308		55	56	1	0.79	8190
	and	60	61	1	1.87	1490
	and	96	99	3	0.76	505
IDRD309		83	85	2	9.3	1966
	and	115	118	3	1.13	270
	and	128	129	1	0.84	568
	and	135	141	6	0.6	744
IDRD310		97	98	1	1.22	147
	and	105	106	1	0.62	241
	and	197	198	1	6.53	555
IDRD311	nsi
IDRD311A		125	127	2	1.06	191
IDRD312	nsi
IDRD312A		148	150	2	3.33	2645
	and	157	161	4	2.04	601
	and	166	168	2	2.58	857
	and	174	175	1	0.95	1205
IDRD313		189	190	1	3.42	273
IDRD314		24	25	1	0.53	84
	and	146	147	1	1.13	408
IDRD315	nsi
IDRD316	nsi
IDRD317		174	175	1	0.86	132
IDRD318	nsi
IDRD319		20	21	1	1.19	11
	and	60	61	1	0.56	97
IDRD320		23	24	1	0.91	65
	and	40	44	4	1.77
IDRD321		38	43	5	4.66	1615
	Including	38	40	2	10.3
IDRD322	nsi
IDRD323	nsi
IDRD324		153	155	2	1.89	653
	and	241	242	1	2.8	2400
IDRD325		163	164	1	0.56	377
IDRD326		94	95	1	0.85	633
	and	171	173	2	1.31	75
IDRD327		210	211	1	1.16	570
	and	252	253	1	0.56	135
	and	261	262	1	0.68	3650

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HoleID		From	To	Length	**Augpt **	**Cuppm **
	and	299	301	2	2.29	1850
	and	307	310	3	3.31	466
	Including	307	308	1	8.8
	and	333	338	5	1.61	728
IDRD328		129	131	2	0.94	434
	and	178	179	1	0.91	267
	and	241	245	4	1.64	537
IDRD329		123	124	1	0.53	686
IDRD330		140	141	1	9.26	186
IDRD331		266	268	2	3.25	1578
IDRD332		42	44	2	0.82	731
	and	78	80	2	1.7	209
IDRD333		244	248	4	0.98	76.5
	and	266	267	1	2.81	876
IDRD334	Assayspending
IDRD335	nsi
IDRD336		61	62	1	0.77	389
	and	396.8	400.7	3.9	1.67	187
	and	470.66	471.35	0.69	1.94	295
IDRD337		451.32	452.78	1.46	2.63	476
IDRD338	nsi(Pre-collar)
IDRD339	nsi(Pre-collar)
IDRD340	nsi(Pre-collar)
IDRD341		0	4	4	0.95	759
	and	160	161	1	1.76	1075
	and	208	209	1	0.91	39
IDRD342		212	220	8	0.76	123.5
IDRD343		69	70	1	0.96	504
IDRD344		79	82	3	2.42	807
	Including	80	81	1	5.44
IDRD345	nsi
IDRD346		63	64	1	1.11	826
IDRD347		29	30	1	2.59	1885
IDRD348		19	20	1	0.93	31
	and	49	50	1	1.14	590
	and	64	65	1	1.45	692
IDRD349		187	188	1	1.94	632
	and	192	193	1	0.53	1435
	and	201	202	1	0.91	501
IDRD350		71	72	1	3.01	947
IDRD351		82	83	1	1.52	903
IDRD352		31	41	10	1.61	1714
	Including	31	32	2	4.3
IDRD353		94	95	1	1.23	124
	and	103	104	1	0.79	66

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HoleID		From	To	Length	**Augpt **	**Cuppm **
	and	173	175	2	2.51	1032
	and	176	177	1	4.37	149
	and	183	184	1	2.4	2190
IDRD354		125	128	3	0.98
	and	137	138	1	0.55
IDRD355		135	136	1	1.79
IDRD356		157	159	2	1.1
IDRD357	nsi(Pre-collar)
IDRD358		153	157	4	1.25
IDRD359	nsi(Pre-collar)
IDRD360	nsi(Pre-collar)	46	51	5	1.5	152
IDRD361		68	70	2	2.99
	and	192	194	2	0.92
	and	268	270	2	0.86
IDRD362	nsi(abandoned)
IDRD362A	Assayspending
IDRD363		178	179	1	1.08	307
	and	190	191	1	0.94	588
IDRD364	Assayspending
IDRD365	Assayspending
IDRD366	Assayspending
IDRD367	Assayspending
IDRD368	Assayspending
IDRD369	Assayspending
IDRD370	Assayspending
IDRD371	Assayspending
IDRD372	Assayspending
IDRD373	Assayspending
IDRD374	Assayspending
IDRD375	Assayspending
IDRD376	Assayspending

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Appendix 4 Drillhole Collar Information

HOLEID	DEPTH	EAST	NORTH	RL	AZIMUTH	DIP
IDRD306	132	252436.8	6779893	464.979	54.63	-60.54
IDRD307	150	252416.5	6779880	465.176	55.12	-61.54
IDRD308	132	252415.7	6779924	464.562	55.24	-59.65
IDRD309	150	252395.5	6779911	464.935	52.93	-59.98
IDRD310	240	252372.5	6779903	464.967	57.75	-65.28
IDRD311	90	252341.3	6779876	465.08	52.04	-64.21
IDRD311A	222	252346.8	6779880	465.013	358.79	0
IDRD312	25	252383.3	6779756	465.987	52.69	-56.51
IDRD312A	204	252388.4	6779760	465.909	56.12	-61.63
IDRD313	210	252373	6779812	465	46.2	-65.55
IDRD314	210	252482	6779560	466.7	54.35	-56.24
IDRD315	84	252477	6779379	468	56.09	-60.26
IDRD316	210	252413	6779325	469	46.45	-56.73
IDRD317	228	252433	6779262	469	68.43	-59.89
IDRD318	264	252671	6778583	475	56.61	-60.62
IDRD319	108	253732	6777994	474	53.81	-65.67
IDRD320	150	253700	6777945	475	59.61	-60.09
IDRD321	72	253765	6777948	474	106.76	-65.16
IDRD322	96	253778	6777858	475	56.46	-61.86
IDRD323	102	253822	6777772	476	61.6	-61.65
IDRD324	270	253460	6778033	475	55.4	-60.61
IDRD325	324	253419	6778001	476	55.56	-61.21
IDRD326	276	253510	6777985	476	55.78	-60.99
IDRD327	378	253451	6777943	476	54.93	-60.39
IDRD328	264	253358.1	6778345	473.326	55.67	-58.78
IDRD329	240	252565.9	6779256	469.566	55.71	-60.74
IDRD330	252	252631.3	6779213	469.462	55.57	-60.77
IDRD331	312	252693.5	6779104	470.297	56.53	-60.91
IDRD332	307	252739.2	6779057	470.323	58.56	-60.43
IDRD333	330	253369.3	6777995	475.719	62.86	-61.74
IDRD334	228	253412	6777910	477.782	53.16	-60.1
IDRD335	258	253613.9	6777939	477.597	59.92	-60.62
IDRD336	156	253144	6778407	473	57.18	-77.71
IDRD337	126	253234	6777986	476	54.32	-58.67
IDRD338	126	253306	6777886	478	56.38	-57.73
IDRD339	276	253176	6777788	479	51.62	-56.86
IDRD340	255	253103	6777734	479	57.75	-56.83
IDRD341	246	253102.1	6778505	472.67	358.79	0
IDRD342	255	253040.1	6777947	477.187	61.3	-54.75
IDRD343	132	252382.5	6779958	464.619	61.09	-61.07
IDRD344	192	252365	6779947	464.634	59.35	-60.09
IDRD345	228	252342.3	6779934	464.717	60.57	-59.12
IDRD346	288	253578	6777915	483	63.4	-61.12

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HOLEID	DEPTH	EAST	NORTH	RL	AZIMUTH	DIP
IDRD347	90	253766	6777950	474	65.77	-50.74
IDRD348	120	253778.9	6777858	475.22	60.45	-51.04
IDRD349	282	253727	6777725	477	61.69	-60.52
IDRD350	114	253823	6777774	476	46.25	-50.78
IDRD351	156	253699	6777819	476	60.86	-51.62
IDRD352	144	253765	6777950	474	125.44	-50.95
IDRD353	234	253665	6777905	482	74.66	-59.75
IDRD354	252	252906	6778642	472	34.8	-67.3
IDRD355	182	252519	6779144	470	60.99	-60.98
IDRD356	276	252797	6778123	480	56.3	-50.76
IDRD357	192	253317	6777784	478	57.16	-51.13
IDRD358	182	253119	6777907	477	54.19	-53.39
IDRD359	252	253028	6778118	476	60.9	-57.1
IDRD360	240	252554	6779191	470	61.55	-58.43
IDRD361	270	252492.1	6779282	468.809	62.53	-60.43
IDRD362	44	252776.5	6778651	473.359	54.46	-58.24
IDRD362A	312	252784	6778642	482	59.78	-56.14
IDRD363	288	252820	6778613	482	60.35	-60.77
IDRD364	336	252667	6779078	471	63.34	-61.7
IDRD365	156	252820	6778613	482	60.7	-60.78
IDRD366	60	252820	6778613	482	60.5	-59.88
IDRD367	96	252820	6778613	482	58.59	-60.07
IDRD368	60	252400.7	6780052	463.835	59.74	-60.26
IDRD369	108	252334.3	6780041	463.929	60.92	-58.11
IDRD370	114	252205	6780255	462.346	62.14	-60.31
IDRD371	264	252420.7	6779202	469.361	59.67	-60.7
IDRD372	240	253213.2	6778363	472.576	57.02	-59.46
IDRD373	276	252454.5	6779103	470.13	66.06	-58.7
IDRD374	168	252446.4	6779311	468.753	60.92	-55.89
IDRD375	324	252386.4	6779600	466.799	67.43	-61.21
IDRD376	324	252329	6779664	467	62.69	-60.45

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JORC Code, 2012 Edition

Table 1; Section 1: Sampling Techniques and Data Mount Ida

Criteria	Explanation	Commentary
Sampling techniques	Nature and quality of sampling (e.g. cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. Aspects of the determination of mineralisation that are Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 50 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information	• Reverse circulation (RC) drilling has been carried out by DLI at the Mt Ida Project • RC samples are collected from a static cone splitter mounted directly below the cyclone on the rig • DD sampling, when completed is generally carried out to lithological/alteration domains with lengths between 0.3- 1.1m • Historical data has been supplied by the previous project owner (Ora Banda Ltd), reverse circulation (RC) drilling and diamond drilling has been completed at the Project.. • Limited historical data has been supplied, historic sampling has been carried out by Hammill Resources, International Goldfields, La Mancha Resources, Eastern Goldfields and Ora Banda Mining, and has included RC, DD and rotary air blast (RAB) drilling • Historic sampling of RC drilling has been carried out via a static cone splitter mounted beneath a cyclone return system to produce a representative sample, or via scoop. • Reports suggest that historic sampling of DD core has been completed to constrain mineralisation and to lithological boundaries. • These methods of sampling are considered to be appropriate for this style of exploration
Drilling techniques	Drill type (e.g. core, reverse circulation, open- hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc).	• Diamond drilling is generally carried out by Frontline Drilling utilising a Sandvik DE880 truck mounted multipurpose rig and is HQ or NQ diameter. RC drilling is carried out by Orlando Drilling using a Schramm T685 rig • Some RC precollars will be completed, diamond tails will be completed in the coming weeks on these holes • Historic RC drilling was completed using a T450 drill rig with external booster and auxiliary air unit, or unspecified methods utilising a 133mm face sampling bit • It is assumed industry standard drilling methods and equipment were utilised for all drilling

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Criteria	Explanation	Commentary
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed. Measures taken to maximise sample recovery and ensure representative nature of the samples. Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.	• Sample condition is recorded for every RC drill metre including noting the presence of water or minimal sample return, inspections of rigs are carried out daily • Recovery on diamond core is generally recorded by measuring the core metre by metre • Poor recoveries can occasionally be encountered in near surface drilling due to the weathered nature • RC recoveries were visually estimated on the rig, bulk reject sample from the splitter was retained on site, generally in green bags for use in weighing and calculating drill recoveries at a later date if required • Sample weights were recorded by the laboratory
Logging	Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. The total length and percentage of the relevant intersections logged.	• Quantitative and qualitative geological logging of drillholes adheres to company policy and includes lithology, mineralogy, alteration, veining and weathering • Diamond core and RC chip logging records lithology, mineralogy, alteration, weathering, veining, RQD, SG and structural data • All diamond drillholes and RC chip trays are photographed in full • A complete quantitative and qualitative logging suite was supplied for historic drilling including lithology, alteration, mineralogy, veining and weathering • No historic chip photography has been supplied • Logging is of a level suitable to support Mineral resource estimates and subsequent mining studies

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Criteria	Explanation	Commentary
Sub-sampling techniques and sample preparation	If core, whether cut or sawn and whether quarter, half or all core taken. If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. For all sample types, the nature, quality and appropriateness of the sample preparation technique. Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. Whether sample sizes are appropriate to the grain size of the material being sampled.	• DD sampling is generally undertaken by lithological/alteration domain to a maximum of 1.1m and a minimum of 0.3m. Core is cut in half with one half sent to the lab and one half retained in the core tray • Occasional wet RC samples are encountered, extra cleaning of the splitter is carried out afterward • When pegmatites are intercepted, RC and core samples are analysed for Li suite elements by ALS Laboratories, Samples are crushed and pulverised to 85% passing 75 microns for peroxide fusion digest followed by ICPOES or ICPMS determination • When potential Au/Cu lodes are intercepted, RC and core samples are analysed first via Photon / Fire assay methods and then subsequently MICP61 L for the base metal suite by ALS Laboratories, Samples are crushed and pulverised to 85% passing 75 microns before 4 acid digest with ICPMS finish or fire assay with ICPMS finish • Samples analysed via photon assay at ALS are dried and crushed to 3mm with 500g of material utilised for the analysis • To ensure a robust geochemical database and to ensure all mineralisation haloes are captured for MRE purposes, in some cases samples are submitted for both the Li suite and the Photon/FA & MICP61 L. This is due to the spatial relationship between the Au/Cu lodes and the LCT pegmatites. • Historic RC sampling methods included single metre static cone split from the rig or via scoop from the green bags, field duplicates were manually inserted at a rate of within the pegmatite / gold zones • Historic samples were recorded as being mostly dry • Historic samples were analysed by Nagrom or ALS Laboratories where 3kg samples were crushed and pulverised to 85% passing 75 microns for a sodium peroxide fusion followed by ICP-MS determination for 25 elements. • Semi-Quantitative XRD analysis was carried out by Microanalysis Australia using a representativesub- samplethat was lightly ground such that 90% was passing 20 µm to eliminate preferred orientation • TIMA sampling was also completed on pulverised lab pulp material, this was completed to quantify the mineralogical makeup of pegmatites in particular. • Various samples from across the Au/Cu orebodies were extracted and sent to ALS laboratories for subsequent metallurgical analysis and flowsheet development.
Quality of assay data and laboratory tests	The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. Nature of quality control procedures adopted (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established. For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc.	• Samples have been analysed by an external laboratory utilising industry accredited standard method. • The assay method utilised by ALS for core sampling allows for total dissolution of the sample where required • Standards and blanks are inserted at a rate of 1 in 20 in RC and DD sampling, all QAQC analyses were within tolerance • The sodium peroxide fusion used for historic assaying is a total digest method • All historic samples are assumed to have been prepared and assayed by industry standard techniques and methods • In the historic data field duplicates, certified reference materials (CRMs) and blanks were inserted into the sampling sequence at a rate of 1:20 within mineralised zones. • Internal standards, duplicates and repeats were carried out by Nagrom and ALS as part of the assay process • No standards were used in the XRD/TIMA process .

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Criteria	Explanation	Commentary
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel. The use of twinned holes. Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Discuss any adjustment to assay data	• Significant intercepts have been reviewed by senior personnel • Primary data is collected via excel templates and third- party logging software (Geobank) with inbuilt validation functions, the data is forwarded to the Database administrator for entry into an aQuire database • Historic data was recorded in logbooks or spreadsheets before transfer into a geological database • No adjustments to assay data have been made other than conversion from Li to Li2O and Ta to Ta2O5
Location of data points	Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. Specification of the grid system used. Quality and adequacy of topographic control	• Drill collars are located using a handheld GPS unit, all holes will be surveyed by trained DLI personnel using a Trimble DGPS once the program is complete • GDA94 MGA zone 51 grid coordinate system was used • Downhole surveys were completed by Frontline/Orlando drilling using a multishot tool • Historic collars were located using handheld Garmin GPS unit with +/- 5m accuracy • Some historic holes were not downhole surveyed, planned collar surveys were provided
Data spacing and distribution	Data spacing for reporting of Exploration Results. Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. Whether sample compositing has been applied.	• Drill hole spacing is variable throughout the program area • Spacing is considered appropriate for this style of exploration • Sample compositing has not been applied
Orientation of data in relation to geological structure	Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material	• Drill holes were orientated to intersect the gold lodes as close to perpendicular as possible; drill hole orientation is not considered to have introduced any bias to sampling techniques
Sample security	The measures taken to ensure sample security	• Samples are prepared onsite under supervision of DLI staff and transported by a third party directly to the laboratory • Historic samples were collected, stored, and delivered to the laboratory by company personnel
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	• Snowden Optiro carried out a review of all DLI sampling protocols during a MRE in 2023.

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JORC Table 2; Section 2: Reporting of Exploration Results, Mt Ida

Criteria		Commentary
Mineral tenement and land tenure status	Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area	• Drilling and sampling activities have been carried on M29/002, M29/165 & E29/0640 • The tenements are in good standing order • There are no heritage issues
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	• The area has a long history of gold mining dating back to the1800s, activities carried out shallow OP mining, elluvial mining and advanced UG mining. • UG mining last took place at Mt Ida in 2009 with Monarch Gold extracting material from the Baldock 100 lode using RUC mining. • Targeted gold exploration has occurred across the tenure by a range of different companies over the last 50 years. • A detailed review of all exploration work was completed by Ora Banda in 2020.
Geology	Deposit type, geological setting and style of mineralisation.	• The Mt Ida project is located within the Eastern Goldfields region of Western Australia within the Mt Ida/Ularring greenstone belt • Locally the Kurrajong Antiform dominates the regional structure at Mount Ida, a south-southeast trending, tight isoclinal fold that plunges at a low angle to the south. The Antiform is comprised of a layered greenstone sequence of mafic and ultramafic rocks • Late stage granitoids and pegmatites intrude the sequence
Drill hole Information	A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: easting and northing of the drill hole collar elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar dip and azimuth of the hole down hole length and interception depth hole length. If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case.	• A list of the drill hole coordinates, orientations and metrics are provided as an appended table when applicable
Data aggregation methods	In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g., cutting of high grades) and cut-off grades are usually Material and should be stated. Where aggregate intercepts incorporate short lengths of high grade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. The assumptions used for any reporting of metal equivalent values should be clearly stated.	• No metal equivalents are used • Significant intercepts are calculated with a nominal cut-off grade of 0.5 g/t.
Relationship between mineralisation widths and intercept lengths	These relationships are particularly important in the reporting of Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (e.g. ‘down hole length, true width not known’).	• The geometry of the mineralisation is roughly perpendicular to the drilling (050 - 060 degrees) • The gold/copper lodes generally trend to the NW and dip to the Southwest on the Western side of the Copperfield Granite

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Criteria		Commentary
Diagrams	Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	• Figures are included in the announcement.
Balanced reporting	Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results.	• All drill collars, and significant intercepts have been reported in the appendix when applicable
Other substantive exploration data	Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances.	• The metallurgical test results are material to the project and have been reported previously.
Further work	The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions or large-scale step-out drilling). Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive.	• POW’s are in place to allow all planned RC, DD and RCDD drilling at Mt Ida.