EASTERN RESOURCES LIMITED — Capital/Financing Update 2022

Sep 14, 2022

15 September 2022

COMMENCEMENT OF DRILLING AT TRIGG HILL PROJECT

Highlights

• RC Drilling has commenced at Trigg Hill Project

• Trigg Hill and East Curlew prospects will be tested

• 30 holes with total 2,000 metres planned

Eastern Resources Limited (“Eastern Resources” or the “Company”) is pleased to announce the commencement of reverse circulation (RC) drilling at Trigg Hill Project for lithium.

The 30-hole RC drilling program, totalling 2,000 metres, is expected to be completed at Trigg Hill Project during September 2022. This first phase of drilling is designed to test a number of vertical and low angle lithium caesium and tantalum (LCT) pegmatites to obtain an understanding of zonation and lithium mineralisation.

The Company has also identified potential in the eastern part of the tenement with strong LCT soil anomalism (refer to the Company announcement dated 8 August 2022), which has not been mapped or rock chip sampled. A program of mapping and rock chip sampling to evaluate the prospectivity of this area will be undertaken following the completion of this drilling program.

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Figure 1: Drill rig in operation at Trigg Hill Project in WA

[A][ Level 1, 80 Chandos Street, St Leonards NSW 2065 ] T +61 2 9906 7551 | E info@easternresources.com.au

Executive Director Myles Fang commented:

“We are excited to get this initial phase of our drilling program at the Trigg Hill Project underway. Our exploration team has identified priority drill targets within Trigg Hill. The drilling at Trigg Hill represents an excellent opportunity to define lithium mineralisation. We are keen to implement the necessary work to test these targets. ”

Trigg Hill Lithium-Tantalum Project

The Trigg Hill Project is located in East Pilbara, Western Australia and approx. 75km SE of Pilbara Minerals Ltd.’s Pilgangoora Lithium mine.

The Trigg Hill mine is an old tantalum and tin mine operated during 1960s and early of 1980s. Significant number of pegmatite outcrops mapped over an area of 3km strike by up to 1.2km in the Trigg Hill Lithium-Tantalum Project including the East Curlew Lithium-caesium-tantalum (“LCT”) pegmatite, which extends for at least 1,800m.

Rock-chip assays confirm extensive lithium-caesium-tantalum (LCT) pegmatites, with results up to 2.28% Li2O, 1,552ppm Cs2O, and 514ppm Ta2O5 from the Curlew East pegmatite swarm (refer to the Company announcement dated 8 July 2021).

The Company executed a binding Heads of Agreement to acquire 100% interest in the Trigg Hill Project (refer to the Company announcement dated 4 August 2021).

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Figure 2: Location of Trigg Hill Project

INVESTOR INFORMATION

Further information, previous Company announcements and exploration updates are available at the Investors tab on the Company’s website – www.easternresources.com.au

This announcement has been authorised for release by the Board of the Company.

Eastern Resources Limited

Myles Fang Executive Director

ASX: EFE

For enquiries on your shareholding or change of address please contact: Boardroom Limited GPO Box 3993, Sydney NSW 2001 Phone: (02) 9290 9600