ELEVRA LITHIUM LIMITED — Capital/Financing Update 2024

Apr 10, 2024

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ACN 091 951 978
ASX Announcement
11 April 2024
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DRILLING AT TABBA TABBA FINDS HIGH POTENTIAL PEGMATITES

• Maiden drilling identifies high potential lithium, caesium, tantalum (LCT) type pegmatites at Sayona’s 100% owned Tabba Tabba Lithium Project, Western Australia

• Ground gravity surveying has commenced, including over the southern extensions to the Tabba Tabba tantalum mine and at the Roadside Prospect to focus future deep drilling

• Deep drilling targets along the 7.5km strike length Tabba Tabba lithium corridor to be the focus for 2024 exploration, in potential boost for Sayona’s global lithium base

North American lithium producer Sayona Mining Limited (“Sayona”) (ASX:SYA; OTCQB:SYAXF) announces that maiden exploration drilling at its wholly owned Tabba Tabba Lithium Project, E45/2364 identified high potential pegmatite systems containing caesium and tantalum. Based on these results, Sayona plans to conduct deeper drilling along a 7.5km prospective corridor located immediately south of the historic Tabba Tabba tantalum mine, where recent exploration by Wildcat Resources has identified encouraging lithium mineralisation.

The 77-hole air core drilling program for 1,473m focused on two key areas, with results in the northern drill area identifying a zone of alteration, interpreted as the targeted southern extension to the Tabba Tabba mine stratigraphy. The southern drill area, sited around the Roadside and Turley prospects, intersected narrow pegmatite within broader zones of elevated tantalum and caesium geochemistry, typical of a LCT (lithium-caesium-tantalum) type pegmatite system.

An orientation ground gravity geophysical survey has commenced to identify the prospective gabbro – sediment contact for targeting, as this is an important control for lithium mineralisation within the area. The gravity survey covers a 7km x 2km area and comprises approximately 2,500 stations arranged on 160m x 40m traverses, infilled to 80x20m over the northern and southern drill areas. The survey is anticipated to take three weeks to complete.

Reverse Circulation (RC) drilling is planned after the completion of the gravity survey to test existing and new gravity defined targets within fresh rock at depth. Some earthworks have been completed in support of the planned drilling program.

The air core drill results support the ramp up of West Australian exploration activities at Tabba Tabba and Sayona’s other 100% owned lithium and gold projects in the region.

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Sayona’s Director and Interim CEO, James Brown commented, “We are pleased with the results of the drilling program so far, which delineated a prospective lithium corridor, as we advance our wholly owned Western Australian lithium assets.

“These encouraging drill results at Tabba Tabba identified high potential pegmatites and provide a strong basis for us to proceed to a deeper RC drilling program. Given the recent discoveries in neighbouring tenements, we are excited to progress the exploration for lithium mineralisation in Western Australia.

“We look forward to continuing our exploration program in both Québec, Canada and Western Australia as we expand and diversify our global lithium portfolio.”

Northern Drill Area

In the northern drill area 31 holes with an average depth of 25m were completed on two drill lines spaced 400m apart. Bedrock comprised a western zone of clastic and volcanogenic sediments typical of the Mallina Formation. These are margined by a zone of thermally altered units and granulite before transitioning eastwards into a mixed package of mafic, ultramafic, felsic volcanic and chert. The thermally altered zone is interpreted as the targeted southern extension to the Tabba Tabba stratigraphy. This target zone is planned to be tested by deeper RC drilling of fresh rock. An orientation ground gravity geophysical survey has commenced to further help target RC drilling of potential flat lying pegmatite systems extending from the north.

Roadside Prospect - Southern Area

Drilling at the Roadside prospect comprised 17 holes on two drill lines spaced 200m apart with holes averaging 14m in depth. Each drill fence intersected pegmatite and zones of elevated LCT type geochemistry as displayed in the table below.

Table 1. Pegmatite Occurrences and Selected Drillhole Geochemical Intercepts

Drillhole	Easting	Northing	From	To	Width	**Li2O **	Caesium	Tantalum	Comment
STAC034b	696644	7707705	16m	17m	1m	43ppm	13ppm	14ppm	Felsic volcanic
	and		17m	18m	1m	131ppm	99ppm	127ppm	Pegmatite
STAC038	696799	7707703	4m	8m	4m	169ppm	17ppm	12ppm	Sericite schist
STAC045	696399	7707502	16m	20m	4m	292ppm	86ppm	9ppm	Includes pegmatite 18-19m
STAC046	696439	7707502	7m	8m	1m	163ppm	134ppm	61ppm	5-20% pegmatite recorded from 6m to 13m

Notes; Datum is Australian Geodetic MGA Zone50 (GDA94) Assay results are tabulated for logged pegmatite where they are the dominate lithology and for sample intervals with assays above 10ppm tantalum. True width of intercepts is not known.

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A plan view of the prospect geology and drilling is displayed in Figure 1 below.

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Figure 1 Roadside Prospect Drilling and Pegmatite

The tantalum enriched pegmatite (maximum 127ppm Ta) combined with elevated caesium and tin are typical of the LCT type class of pegmatites. Lithium drill results are not strongly anomalous in lithium, however, surface silicification, commonly logged in the weathered rock profile, indicates a loss of lithium during the weathering and silicification process may have occurred. Drill results are supported by surface pegmatite mapping and elevated Li-Cs-Ta soil geochemical results, which in combination identify a 500m by 100m wide corridor, open along strike, for deeper drill testing. Outcrop at surface is limited due to surficial cover but gabbro and sediments crop out locally.

The gravity survey will provide data to help focus deeper RC drill testing, targeting spodumene pegmatite within the favourable gabbro host rock at depth.

Turley Prospect – Southern Area

A total of 29 air core holes with an average 16m depth were completed on two drill traverses 400m apart. Holes were sited over an area of colluvial cover located to the east of the Turley pegmatite. Drilling did not identify any pegmatites or LCT type geochemistry. The Turley pegmatite, which has been mapped at

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surface as an anastomosing system ranging from 1m to 10m in thickness over a 280m strike extent, remains untested by drilling. The pegmatite is tantalum and caesium enriched and future RC drilling will target the pegmatite system and potential lithium rich zones at depth. It is anticipated results from the gravity survey will help the targeting process for future drilling.

Next Steps

Deeper RC drilling at each of the Northern, Roadside and Turley areas is planned once the ground gravity orientation survey is completed. This will optimise exploration in the search for flat lying spodumene pegmatite mineralisation at depth. A tenement wide review of geology is also underway, targeting the prospective gabbro host units and structural settings which facilitate emplacement of the target north striking spodumene pegmatite mineralisation.

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Figure 2 Tabba Tabba lease E45/2364 and planned drilling

Sayona holds 100% of the lithium rights to six tenements within the Pilgangoora lithium district, (including E45/2364), and a 49% interest in the Morella Lithium Joint Venture which comprises lithium rights to an additional six leases. The commencement of drilling at the Tabba Tabba project, marks a strategic reevaluation of the importance of the Western Australian lithium tenure in Sayona’s global lithium development portfolio.

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Geologically, planned exploration is benefiting from an enhanced understanding of pegmatite occurrences. This includes observations from exploration at Moblan, Québec where flat lying pegmatite hosted by gabbro was discovered by Sayona in 2022 at the South Pegmatite Zone.

Flat lying pegmatite systems often have limited surface expression and require a systematic exploration approach to best focus drilling into the most prospective target areas. Sayona is advancing this process, being guided by mapping, rock and soil sampling and now, first pass drilling.

Recent exploration success within Western Australia has also reinforced the importance of similar gabbroic host rocks. The Tabba Tabba lease and Mallina JV area both stand to benefit from continued exploration targeting these geological analogues.

Issued on behalf of the Board.

For more information, please contact: For Investor/media queries, contact: James Brown Anthony Fensom Director & Interim CEO Fensom Advisory Email: info@sayonamining.com.au Ph: +61 (0) 407 112 623 Email: anthony@fensom.com.au

About Sayona Mining

Sayona Mining Limited is a North American lithium producer (ASX:SYA; OTCQB:SYAXF), with projects in Québec, Canada and Western Australia.

In Québec, Sayona’s assets comprise North American Lithium together with the Authier Lithium Project and its emerging Tansim Lithium Project, supported by a strategic partnership with American lithium developer Piedmont Lithium Inc. (Nasdaq:PLL; ASX:PLL). Sayona also holds a 60% stake in the Moblan Lithium Project in northern Québec.

In Western Australia, the Company holds a large tenement portfolio in the Pilbara region prospective for gold and lithium. Sayona is exploring for Hemi style gold targets in the world class Pilbara region, while its lithium projects include Company-owned leases and those subject to a joint venture with Morella Corporation (ASX:1MC).

For more information, please visit us at www.sayonamining.com.au

References to Previous ASX Releases

• Quarterly Activities Report – 31 January 2024

• Drilling underway at Tabba Tabba Lithium Project – 6 December 2023

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcement and all material assumptions and technical

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parameters continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcements.

Competent Person’s Statement

The information in this report is based on information compiled by Mr Simon Attwell, a Competent Person, and who is a Member of The Australasian Institute of Mining and Metallurgy. Mr Attwell is an employee of Attgold Pty Ltd (“Attgold”) which provides full time geological services to Sayona.

Mr Attwell has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken 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 Attwell consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

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Table 2 Tabba Tabba Air core Drill Collar Details

HoleID	Area	East	North	RL (m)	End of Hole (m)	Azimuth	Dip
STAC001	Northern Drill Area	698757	7711401	93	50	270	‐60
STAC002	Northern Drill Area	698801	7711400	92	21	270	‐60
STAC003	Northern Drill Area	698843	7711397	87	21	270	‐60
STAC004	Northern Drill Area	698881	7711401	85	8	270	‐60
STAC005	Northern Drill Area	698923	7711401	85	10	270	‐60
STAC006	Northern Drill Area	698965	7711399	87	25	270	‐60
STAC007	Northern Drill Area	699001	7711396	92	8	270	‐60
STAC008	Northern Drill Area	699038	7711400	92	10	270	‐60
STAC009	Northern Drill Area	699076	7711401	94	45	270	‐60
STAC010	Northern Drill Area	699123	7711403	86	40	270	‐60
STAC011	Northern Drill Area	699158	7711402	84	48	270	‐60
STAC012	Northern Drill Area	699203	7711401	86	57	270	‐60
STAC013	Northern Drill Area	699240	7711405	107	46	270	‐60
STAC014	Northern Drill Area	699282	7711405	104	15	270	‐60
STAC015	Northern Drill Area	699321	7711405	100	14	270	‐60
STAC016	Northern Drill Area	698677	7711001	94	15	270	‐60
STAC017	Northern Drill Area	698719	7711003	95	41	270	‐60
STAC018	Northern Drill Area	698758	7711004	96	51	270	‐60
STAC019	Northern Drill Area	698800	7711012	99	62	270	‐60
STAC020	Northern Drill Area	698839	7711013	101	51	270	‐60
STAC021	Northern Drill Area	698881	7711009	99	19	270	‐60
STAC022	Northern Drill Area	698918	7711009	99	12	270	‐60
STAC023	Northern Drill Area	698965	7711002	102	6	270	‐60
STAC024	Northern Drill Area	699002	7711004	102	8	270	‐60
STAC025	Northern Drill Area	699044	7711003	102	3	270	‐60
STAC026	Northern Drill Area	699081	7711002	102	4	270	‐60
STAC027	Northern Drill Area	699123	7711003	103	7	270	‐60
STAC028	Northern Drill Area	699163	7711004	100	21	270	‐60
STAC029	Northern Drill Area	699203	7711002	95	8	270	‐60
STAC030	Northern Drill Area	699243	7711004	98	18	270	‐60
STAC031	Northern Drill Area	699279	7711006	106	27	270	‐60
STAC032	Southern Drill Area	696561	7707703	119	8	270	‐60
STAC033	Southern Drill Area	696601	7707704	117	13	270	‐60
STAC034A	Southern Drill Area	696644	7707704	127	7	270	‐60
STAC034B	Southern Drill Area	696644	7707705	127	19	270	‐60
STAC035	Southern Drill Area	696683	7707704	123	9	270	‐60
STAC036	Southern Drill Area	696725	7707703	119	3	270	‐60
STAC037	Southern Drill Area	696782	7707704	117	11	270	‐60
STAC038	Southern Drill Area	696799	7707703	116	25	270	‐60
STAC039	Southern Drill Area	696826	7707701	115	19	270	‐60

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HoleID	Area	East	North	RL (m)	End of Hole (m)	Azimuth	Dip
STAC040	Southern Drill Area	696201	7707501	119	10	270	‐60
STAC041	Southern Drill Area	696239	7707501	123	37	270	‐60
STAC042	Southern Drill Area	696280	7707503	119	5	270	‐60
STAC043	Southern Drill Area	696320	7707502	118	6	270	‐60
STAC044	Southern Drill Area	696357	7707502	117	3	270	‐60
STAC045	Southern Drill Area	696399	7707502	123	25	270	‐60
STAC046	Southern Drill Area	696439	7707502	124	25	270	‐60
STAC047	Southern Drill Area	696481	7707502	126	6	270	‐60
STAC048	Southern Drill Area	696520	7707501	122	15	270	‐60
STAC049	Southern Drill Area	695202	7707100	127	16	270	‐60
STAC050	Southern Drill Area	695241	7707097	125	20	270	‐60
STAC051	Southern Drill Area	695321	7707100	122	6	270	‐60
STAC052	Southern Drill Area	695359	7707098	121	15	270	‐60
STAC053	Southern Drill Area	695404	7707101	119	7	270	‐60
STAC054	Southern Drill Area	695442	7707101	119	6	270	‐60
STAC055	Southern Drill Area	695475	7707100	118	14	270	‐60
STAC056	Southern Drill Area	695520	7707101	119	12	270	‐60
STAC057	Southern Drill Area	695558	7707102	121	9	270	‐60
STAC058	Southern Drill Area	695598	7707101	122	10	270	‐60
STAC059	Southern Drill Area	695639	7707103	127	15	270	‐60
STAC060	Southern Drill Area	695683	7707103	126	13	270	‐60
STAC061	Southern Drill Area	695721	7707102	126	5	270	‐60
STAC062	Southern Drill Area	695760	7707100	126	9	270	‐60
STAC063	Southern Drill Area	694598	7706699	126	6	270	‐60
STAC064	Southern Drill Area	694642	7706700	125	22	270	‐60
STAC065	Southern Drill Area	694683	7706695	125	6	270	‐60
STAC066	Southern Drill Area	694724	7706700	110	33	270	‐60
STAC067	Southern Drill Area	694761	7706700	113	5	270	‐60
STAC068	Southern Drill Area	694802	7706696	116	21	270	‐60
STAC069	Southern Drill Area	694840	7706699	117	18	270	‐60
STAC070	Southern Drill Area	694881	7706700	115	20	270	‐60
STAC071	Southern Drill Area	694919	7706699	116	32	270	‐60
STAC072	Southern Drill Area	694962	7706699	116	29	270	‐60
STAC073	Southern Drill Area	695002	7706701	116	20	270	‐60
STAC074	Southern Drill Area	695037	7706701	117	29	270	‐60
STAC075	Southern Drill Area	695080	7706701	117	16	270	‐60
STAC076	Southern Drill Area	695121	7706701	118	20	270	‐60
STAC077	Southern Drill Area	695159	7706704	122	22	270	‐60

Notes; Datum is Australian Geodetic MGA Zone50 (GDA94) Azimuth is MGA grid west.

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JORC Code, 2012 Edition – Table 1 ‐ Section 1: Sampling Techniques and Data

Criteria	JORC Code explanation Commentary	JORC Code explanation Commentary
Sampling techniques	 Nature and quality of sampling (eg 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 (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 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 (eg submarine nodules) may warrant disclosure of detailed information.	 Air Core drilling collected drill material at 1m intervals with drill spoil placed on the ground and geologically logged and sampled as 1m or composite metre samples as appropriate. The 1m and composite samples approximate to a 3kg representative of the interval drilled. This work is considered industry standard practice.  Samples for assay submission were collected following geological logging. Individual or composited samples were collected for all drill material.
Drilling techniques	 Drill type (eg core, reverse circulation, open-hole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg 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).	 Drilling was carried out by air core drill methods by Bostech Drilling Australia. The majority of drilling was by aircore blade (1388m) with hammer drilling (88m) over harder formations.
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.	 No loss of sample recovery or quality was noted during drilling. Appropriate use of downhole air pressure kept cuttings dry. They are considered representative of the zone being drilled. It is not believed a bias has been introduced into the sampling system.
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.	 Chip samples have been logged appropriate to the greenfield exploration nature of the programme. Logging information is of insufficient detail to support any Mineral Resource Estimation.  All drill cuttings have been geologically logged.
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	 No core drilling has been undertaken.  Drill samples have been collected at the time of drilling by PVC spear of drill cuttings arranged in metre intervals on the ground. The samples collected were dry.  Sampling of cuttings has been carried out in an industry standard way.  Field duplicates of 1m drill samples have been collected from selected intervals to

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Criteria	JORC Code explanation Commentary	JORC Code explanation Commentary
	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.	help QA/QC assessment. It is believed the sampling is representative of the drilled material. The collection methodology is considered appropriate for this air core drilling method.
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.  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.  Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established.	 Analysis have been carried out by ALS, Perth which is a certified laboratory in compliance with AS/NZS-9001:2000. A 48 element suite, including lithium was determined by mixed acid digest followed by ICP-MS61. This is considered a total digest appropriate to the samples submitted.  Certified Reference Material (approximately 1 in 25 samples), blanks and duplicates, (together approximately 1 in 25 samples) have been inserted into the sampling submitted to the Laboratory. Results confirm acceptable accuracy and precision.
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.	 The results have been reviewed by multiple geologists. The company conducts internal data verification protocols which have been followed.  Li has been converted to Li20 for the purposes of reporting. The conversion used was Li20 = Li x 2.153. No other adjustments to assay data has been undertaken
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 have been located by handheld GPS with an error of approximately +/-5m.  The grid system used is Australian Geodetic MGA Zone 50 (GDA94).  The level of topographic control offered by the handheld GPS is considered sufficient for the work undertaken
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.	 There was no predetermined grid spacing to drilling. Locations are provided.  The data spacing and distribution is not sufficient to establish the degree of geological and grade continuity appropriate for Mineral Resource estimation procedures.  Sample results have not been composited.
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	 Drilling has been carried out over small areas of the project and it is not known if results are representative.  Drilling has been sited orthogonal to targets. There is not enough information

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Criteria	**JORC Code explanation **	Commentary
	have introduced a sampling bias, this should be assessed and reported if material.	to determine if the target has been fully tested by the drillholes which have been completed and further deep drilling of fresh rock is planned.
Sample security	 The measures taken to ensure sample security.	 Industry standard sample security and storage were undertaken.
Audits or reviews	 The results of any audits or reviews of sampling techniques and data.	 No audits or reviews of the data have been conducted at this stage

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JORC Code, 2012 edition – Section 2 Reporting of Exploration Results (Criteria listed in the preceding section also apply to this section.)

Criteria JORC Code explanation Commentary	Criteria JORC Code explanation Commentary	Criteria JORC Code explanation 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.	 The lithium and pegmatite mineral rights to the Tabba Tabba project, E45/2364 are held 100% by Sayona Mining under a split commodities agreement with tenement owner De Grey Mining Ltd. A 1% NSR on pegmatite minerals including lithium has been granted to a third party.  There are no impediments that have been identified for operating in the project areas
Exploration done by other parties	 Acknowledgment and appraisal of exploration by other parties.	 There has been only limited past lithium exploration. Regional geochemical sampling of panned concentrates including collection of pegmatite minerals tantalum was carried out by CSR. Historic exploration has been focussed on the gold and base metal potential of the tenement. De Grey Mining are actively exploring the tenement for its Hemi style gold prospectivity,
Geology	 Deposit type, geological setting and style of mineralisation.	 Lithium is being targeted within rare metal pegmatites which represent the most fractionated and evolved pegmatite type.
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: o easting and northing of the drill hole collar o elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar o dip and azimuth of the hole o down hole length and interception depth o 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.	 Drill information is contained and tabulated in the main body of this report
Data aggregation methods	 In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg 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 variation to laboratory reported assays has been made.

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Criteria	**JORC Code explanation **	Commentary
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 (eg ‘down hole length, true width not known’).	 Exploration is at an early stage and information contains insufficient data points to allow these relationships to be reported
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.	 No significant discovery is reported. A collar plan figure displaying the drill areas and a plan showing intercepts at the Roadside prospect are included in the main body of this release.
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.	 Elevated assay results for drilling at the Roadside prospect are tabulated in the main body of this report. Other drill areas did not return anomalous geochemical results.
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 exploration reported herein is at a very early stage but results are consistent with geological and other data
Further work	 The nature and scale of planned further work (eg 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.	 Further work includes ground geophysical gravity surveying to potentially help identify the target gabbro host at depth and further RC and DDH drilling into the fresh bedrock of target areas. Studies will be undertaken to determine the effect of weathering and surface silicification and if a zonation (at depth or along strike) is present within the target pegmatites in order to optimise further drill testing of the targets.

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