ECLIPSE METALS LIMITED. — Regulatory Filings 2021

Apr 21, 2021

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22 April 2021

Eclipse welcomes new Greenland Coalition Government

Eclipse Metals Ltd ( A SX: EPM ) ( Eclipse Metals or the Company ) has welcomed news the Inuit Ataqatigiit (IA) Party has formed a government in Greenland following a national election held earlier this month.

IA formed a coalition with the Naleraq party, and its policies are supported by minor parties in parliament.

Since winning the election, the IA party has publicly stated it is supportive of responsible mining. In a statement in recent days, incoming Prime Minister and IA leader Muté Bourup Egede said mineral exploitation was "a possibility for developing [Greenland's] economy", but the IA policy would exclude exploitation of uranium in Greenland.

The IA party has a strong environmental platform that is well-aligned with Eclipse Metals' environmental initiatives.

Eclipse acquired the Ivittuut project in Greenland in January 2021. The project area hosts the historic Ivittuut cryolite mine and undeveloped mineral resources, including a large REE-bearing carbonatite deposit. Between 1865 and 1985 the Ivittuut mine produced 3.8 million tonnes of high-grade cryolite, for use in the aluminium industry, from the world's largest known minable resource of naturally occurring cryolite.

Evaluation of past exploration drilling has demonstrated substantial resources of cryolite and fluorite within the mine environs plus a very large body of high-grade quartz below the pit floor.

Eclipse is evaluating the mine's potential to produce high-grade quartz as well as cryolite-fluorite and ironzinc mineralisation and to assess the economic potential of the historical tailings dump.

"We are looking forward to working with the new Coalition Government to progress the development of the Ivittuut project," Eclipse Executive Chairman Carl Popal said.

"Ivittuut is an industrial mineral and REE project with no uranium mineralisation. Ivittuut has more than 120 years of mining history, and it is not in a populated urban or farming setting. We look forward to exploring its potential and working with the new government to develop a new mine or mines in this part of Greenland."

For and on behalf of the Board

Carl Popal Executive Chairman

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www.eclipsemtals.com.au eclipse metals Eclipse Metals

About Eclipse Metals Ltd (ASX: EPM)

Eclipse Metals Ltd is an Australian exploration company focused on exploring South-western Greenland, Northern Territory and Queensland for multi commodity mineralisation. Eclipse Metals Ltd has an impressive portfolio of assets prospective for cryolite, fluorite, siderite, quartz (high purity silica), REE, gold, platinum group metals, manganese, palladium, vanadium and uranium mineralisation. The Company's mission is to increase shareholders' wealth through capital growth and ultimately dividends. Eclipse Metals Ltd plans to achieve this goal by exploring for and developing viable mineral deposits to generate mining or joint venture incomes.

ECLIPSE METALS LTD

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