ELEVRA LITHIUM LIMITED — Capital/Financing Update 2017

Nov 9, 2017

ASX Announcement and Media Release

10 November 2017

KALAMAZOO APPLIES FOR ANOTHER HIGHLY-PROSPECTIVE GOLD TENEMENT IN WA’S PILBARA

HIGHLIGHTS

• Kalamazoo has completed an extensive field exploration investigation of its Option tenement package in WA’s Pilbara region.

• Tenement areas – including The Sisters Project – are in a highly prospective and emerging province adjacent to recent nugget discoveries announced by De Grey Mining (ASX: DEG) and Segue Resources (ASX: SEG)

• Agreement signed with lithium explorer, Sayona Mining (ASX: SYA) to assay for gold from soil pulps previously taken from The Sisters Project (E47/2983).

• Pilbara prospectors contracted to search for the presence of gold nuggets on some of the tenements including The Sisters Project.

• Extensive exploration program being prepared following a review of similar successful programs by neighbouring projects

• Application made for another highly prospective tenement (E45/5046) in the Pilbara

Details

Emerging gold and base metal exploration company, Kalamazoo Resources Limited (ASX: KZR) (“ Kalamazoo ”), today announced it had applied for another highly prospective tenement in Western Australia’s Pilbara (Figure 1). This follows the recent announcement[1] that KZR has secured an Option to acquire between 80% and 100% equity in three highly prospective gold projects in the Pilbara.

The Company has recently completed an extensive field exploration investigation of its Option tenement package in the region.

1. Refer to ASX announcement dated 6 October 2017

The tenement areas – including The Sisters Project – are in a highly-prospective province adjacent to recent nugget discoveries announced by De Grey Mining (ASX: DEG) and Segue Resources (ASX: SEG)

Kalamazoo recently announced it had secured an Option to acquire between 80% and 100% equity in three highly prospective gold projects in the Pilbara.

As part of its due diligence, the Company is currently compiling a comprehensive database, including from historical geochemistry, geophysics and drilling results.

“The Pilbara is the subject of intense gold exploration activity and interest at the moment – some are saying the region is in the midst of a modern-day gold rush - and we are excited at the outcomes of our recent field trip to our tenements,” Kalamazoo Chairman, Mr Luke Reinehr, said today.

“Kalamazoo has always been exploring in the Pilbara and was in fact named after a small train that ran from Marble Bar to Port Hedland. This resurgence of gold exploration in the Pilbara - added with the recent gold nugget discoveries in the region by several ASX listed companies - is what is driving Kalamazoo’s continued gold exploration interest in the area,” he said.

“As part of our recent field trip and internal investigations, we have applied for another highly prospective tenement (E45/5046) in the Pilbara.”

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Figure 1: Location of Sisters, DOM’s Hill and Marble Bar Gold Project and New West Yule Tenements

Field trip outcomes

• Kalamazoo has completed a reconnaissance field trip to assess the gold potential within its tenement package – an area serviced by good roads and tracks making excellent access to conduct exploration activities.

• Visited the DOM’s Hill Prospect on E45/4722-1 to assess the potential for gold mineralisation and region where gold nuggets were recently located (Figure 2).

• Kalamazoo has contracted prospectors who will perform metal detecting on various areas of the tenements, in particular the Sisters Project which is adjacent to De Grey Mining (ASX: DEG), Segue Resources (ASX: SEG) and Sayona Mining (ASX: SYA).

• Kalamazoo has entered into an arrangement with Sayona Mining Limited (ASX:SYA) to access soil samples collected from its recent lithium exploration program and assay the pulps for gold to identify areas of interest in the underexplored northern eastern portion of The Sisters tenement (E47/2983). Sayona holds an option with Great Sandy Pty Ltd for the exploration rights for lithium on E47/2983.

• Kalamazoo located a portion (500 metres approximately) of the basal Mount Roe Volcanics on the Marble Bar tenement E45/4724 and intends detailed follow up work seeking the presence or otherwise of conglomerates at the contact with older underlying mafic units.

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Figure 2: DOM’s Hill Prospect, looking south.

• Kalamazoo has also made an application for a new tenement totalling 35 blocks over vacant ground in the Pilbara, E45/5046 (West Yule). Kalamazoo has applied for this tenement as it considers that the area is a nexus of NE trending faults in the pre-Fortescue basement which are likely older, possibly mineralised, lineaments which predate the Mt Roe conglomerate play and feed into it.

Next Steps

Kalamazoo is now:

• Completing its review and due diligence of the tenement package subject of the Option agreement with Great Sandy Pty Ltd, Drillabit Pty Ltd and KS Gold Pty Ltd.

• Reviewing the gold in soil results for The Sisters Project.

• Assessing the potential for gold mineralisation of all styles (including conglomerate hosted gold) from the results of metal detecting activities.

• Assessing the potential for other metals, e.g. base metals mineralisation in the tenement package.

• Continuing to look for further opportunities to expand the footprint in the Pilbara following the substantial investment by Canadian based groups including Kirkland and Novo.

For further information, please contact:

Mr. Peter Benjamin Managing Director Kalamazoo Resources Limited +61 8 9481 8188 peter.benjamin@kzr.com.au

About Pilbara Tenement Package Option

Copper-gold exploration company, Kalamazoo Resources Limited (ASX: KZR) (“Kalamazoo”), announced to the ASX on 6 October 2017 that it has secured an Option to acquire between 80% and 100% equity in three highly prospective gold projects in the Pilbara from companies associated with WA resources industry stalwart, Denis O’Meara. The tenements have the potential to host significant gold mineralisation and are located in highly prospective locations within close proximity to some of the Pilbara’s most exciting developing gold projects.

Competent Persons Statement

The information in this release that relates to the exploration data is based on information compiled by Mr Lance Govey, a competent person who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Govey is an employee of BinEx Consulting who is engaged as the Exploration Manager for the Company. Mr Govey 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’. Mr Govey consents to the inclusion in this document of the matters based on his information in the form and context in which it appears.

Forward Looking Statements

Statements regarding Kalamazoo’s plans with respect to its mineral properties and programmes are forwardlooking statements. There can be no assurance that Kalamazoo’s plans for development of its mineral properties will proceed as currently expected. There can also be no assurance that Kalamazoo will be able to confirm the presence of additional mineral resources/reserves, that any mineralisation will prove to be economic or that a mine will successfully be developed on any of Kalamazoo’s mineral properties. The performance of Kalamazoo may be influenced by a number of factors which are outside the control of the Company and its Directors, staff and contractors.