GREENWING RESOURCES LTD — Capital/Financing Update 2019

Feb 28, 2019

ASX Announcement 1 March 2019

Bass Metals completes maiden drilling and soil sampling program over Madagascan lithium prospects

Bass Metals Limited (ASX: BSM) (the “Company”) is pleased to provide an update on recent exploration activities at its 100% wholly owned Millie’s Reward lithium project, located in Madagascar.

MILLIE’S WEST PROSPECT

A maiden scout drilling program consisting of five shallow diamond drill holes was recently completed at the Millie’s West prospect, one of eight high priority prospects within the Millie’s Reward project area. These holes were the first to be drilled within the project area and aimed to identify the depth and width of the pegmatites surrounding the underground workings at Millie’s West.

Previous channel sampling of underground workings in the area returned a weighted average intersection of 3.72% Lithium Oxide (Li2O) over 31m, with a maximum 1m result yielding 6.61% Li2O[1] , indicating Millie’s West as a highly attractive prospect for exploration.

A total of ~341 metres were drilled over a short strike length of only 50 metres to a maximum depth of 100 metres. The drilling confirmed the presence of pegmatites with low levels of lithium-in-spodumene (ppm) returned by assay.

The pegmatites and their complex structural nature lead to difficult drilling conditions and subsequent re-drilling of some holes was undertaken, delaying

1 Refer ASX Release on 11 September 2018: “31m lithium intersection at 3.72pct”.

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the completion of the program and subsequent exporting of samples to Australia for analysis.

In parallel with drilling, further underground channel samples were taken and returned weighted average intersections of 2.59% Lithium Oxide (Li2O) over 14.0m and 1.55% Li2O over 11.0m, with a maximum 1m result yielding 5.17% Li2O.

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Millie’s West Soil Sample and Drill Location showing new prospects discovered.

Soil sampling was also completed with 472 samples analysed using a pXRF. The soil geochemical survey program resulted in anomalous lithium values of up to 849ppm Lithium (Li) along with 143ppm Caesium (CS), 65ppm Gallium (Ga),

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116ppm Niobium (Nb) and 510ppm Rubidium (Rb) identifying at least three significant anomalies not previously discovered. Two of these anomalous zones are immediately north-east of the scout drilling area, and an additional anomalous zone is located to the south, across the valley, where more historical artisanal workings are present.

The significant information gained from drilling, underground channel sampling and soil sampling across the prospect has provided insight into the structural conditions of the western flank of the Millie’s Reward pegmatite field and significantly adds to understanding of the structural deformation and typical LCT zonation within the previously unexplored project area.

The geological cross sections of the drilling, BSMD001 through BSMD005 indicates pegmatite thickness and dip.

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Millie’s West drill section showing lithium in ppm concentration – Section 1.

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Millie’s West drill section showing lithium in ppm concentration – Section 2.

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Millie’s West drill section showing lithium in ppm concentration – Section 3.

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ILAPA PROSPECT

Soil sampling was completed at the Ilapa prospect with 240 samples analysed using a pXRF. The soil geochemical survey program identified anomalous Li values up to 1477ppm Li, 211ppm Cs, 58ppm Ga, 84ppm Nb and 893ppm Rb.

These soil sample results identified at least four Li anomalies, which coincide with artisanal pegmatite workings. Six composite rock-chip samples were collected from lithium-bearing pegmatite host rock outcrops resulting in values up to 3.58% Li2O, 3018ppm Cs, 193 ppm Nb, 11372 Rb and 194 ppm Ta.

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Ilapa Soil Sampling showing new prospects discovered.

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MANJAKA PROSPECT

11 composite rock-chip samples were taken at the Manjaka Prospect from outcropping pegmatites, with assays returning up to 4.54% Li2O, 994ppm Cs, 106ppm Ta, 149ppm Nb, 3380ppm Rb and 2500ppm Be.

In addition, the Company completed 370m of orientation soil sampling with 35 samples collected consisting of 4 sizing fractions at each location in Manjaka resulting in anomalous Li values of up to 1050 ppm (+ 2mm), 960 ppm (-2mm to +180µm), 1120 ppm (-180µm to +75µm) and 1280 ppm (-75µm).

These results from soil samples at Manjaka identified zones of anomalous Li values coinciding with artisanal workings.

OTHER MILLIE’S REWARD PROSPECTS

Several other prospects were explored during recent field activities, including the Marirano Prospect, with three rock-chip samples returning results of up to 7.19% Li2O, 1060 ppm Cs and 2500 ppm Be.

In addition, 16 rock-chip samples of outcropping pegmatite at Tsarafara returned up to 6.33% Li2O, 5804 ppm Cs, 234 ppm Nb, 7626 ppm Rb and 132 ppm Ta. And one rock-chip sample at the Vohidahi pegmatite returned up to 0.88% Li2O, 1020 ppm Cs and 2089 ppm Rb.

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Manjaka and other prospects recently explored.

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MR TIM MCMANUS CEO:

“The team continues to develop its understanding of the prospectivity of the Lithium-cesium-tantalum (LCT) pegmatites in the region.

As a virgin discovery, we deliberately planned a small number of metres for the maiden scout drilling program so we could better understand the geology of the area before committing capital for a larger drilling program.

This proved to be a prudent step, as drilling conditions, geological structure and grade over the 50-metre strike length did not make our efforts easy. We understood that we would be working on the boundary of the pegmatite field and that the structural deformation and typical LCT zonation would be intriguing. The information gathered has proven to be valuable in ensuring shareholders get the best returns from future funds invested in the project.”

For more information, please contact:

Tim McManus

Chief Executive Officer Phone: (07) 3203 5894 Email: admin@bassmetals.com.au

Peter Wright

Executive Director Phone: (07) 3203 5894 Email: admin@bassmetals.com.au

www.bassmetals.com.au @bassmetals

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Disclaimer

This document has been prepared by Bass Metals Limited (the “Company”). It should not be considered as an invitation or offer to subscribe for or purchase any securities in the Company or as an inducement to make an invitation or offer with respect to those securities. No agreement to subscribe for securities in the Company will be entered into on the basis of this document.

This document is provided on the basis that neither the Company nor its officers, shareholders, related bodies corporate, partners, affiliates, employees, representatives and advisers make any representation or warranty (express or implied) as to the accuracy, reliability, relevance or completeness of the material contained in the document and nothing contained in the document is, or may be relied upon as a promise, representation or warranty, whether as to the past or the future. The Company hereby excludes all warranties that can be excluded by law.

Forward Looking Statements

This announcement contains certain ‘forward-looking statements’ within the meaning of the securities laws of applicable jurisdictions. Forward-looking statements can generally be identified by the use of forward-looking words such as ‘may,’ ‘should,’ ‘expect,’ ‘anticipate,’ ‘estimate,’ ‘scheduled’ or ‘continue’ or the negative version of them or comparable terminology.

Any forecasts or other forward-looking statements contained in this announcement are subject to known and unknown risks and uncertainties and may involve significant elements of subjective judgment and assumptions as to future events which may or may not be correct. There are usually differences between forecast and actual results because events and actual circumstances frequently do not occur as forecast and these differences may be material.

Bass Metals does not give any representation, assurance or guarantee that the occurrence of the events expressed or implied in any forward-looking statements in this announcement will actually occur and you are cautioned not to place undue reliance on forward-looking statements. The information in this document does not take into account the objectives, financial situation or particular needs of any person. Nothing contained in this document constitutes investment, legal, tax or other advice.

Important information

This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States, or in any other jurisdiction in which such an offer would be illegal. The securities referred to in this document have not been and will not be registered under the United States Securities Act of 1933 (the ‘US Securities Act’), or under the securities laws of any state or other jurisdiction of the United States and may not be offered or sold, directly or indirectly, within the United States, unless the securities have been registered under the US Securities Act or an exemption from the registration requirements of the US Securities Act is available.

This document may not be distributed or released in the United States.

Competent Person Statement

The information in this document that relates to Exploration Results is based on information compiled by Tim McManus, a Competent Person who is a member of the Australasian Institute of Mining and Metallurgy and a fulltime employee of the Company.

Tim McManus has sufficient experience that is relevant to the style of mineralization 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.

Tim McManus consents to the inclusion of the information in this document in the form and context in which it appears.

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APPENDIX 1 – EXPLORATION DATA

Table 1: Drill collar location and depths

Drill Hole	UTM 38 sX	UTM 38 sY	Elevation Meter	Azimuth degree	Inclined degree	EOH (m)	Core Recovery
BSMD001	703,014	7,780,844	1,538	130	-50	100.18	96%
BSMD002	703,014	7,780,844	1,538	0	-90	33.38	72%
BSMD003	703,015	7,780,863	1,542	130	-50	62.23	72%
BSMD003A	703,015	7,780,863	1,542	130	-50	46.00*	55%
BSMD003B	703,015	7,780,863	1,542	130	-50	60.00*	64%
BSMD004	703,015	7,780,863	1,542	130	-60	100.30	97%
BSMD005	703,034	7,780,873	1,543	130	-50	45.58	87%

Table 2: Drill sample results

BSMD001

BSMD001
From(m)	To(m)	Composition	Lithium(ppm)
0.00m	12.10m	Schist	Upto 355ppm Li
12.10m	13.36m	Pegmatite(Coarsegrained)	Weighted average of 219ppm Li
13.36m	29.77m	Schist	Upto 461ppm Li
29.77m	37.86m	Quartzite
37.87m	46.60m	Marble	Upto 117ppm Li
46.60m	47.18m	Pegmatite(Finegrained)	Weighted average of 77ppm Li
47.18m	48.18m	Schist	Upto 103ppm Li
48.18	50.10m	Pegmatite(Mediumgrained)	Weighted average of 66ppm Li
50.10m	56.18m	Marble	Upto 56ppm Li
56.18m	56.85m	Schist	Upto 78ppm Li
56.85	66.18m	Pegmatite(Finegrained)	Weighted average of 51ppm Li
66.18m	82.73m	Marble	Upto 83ppm Li
82.73m	84.05m	Quartzite
84.05m	100.18m	Marble

BSMD002

BSMD002
From (m)	To (m)	Composition	Lithium (ppm)
0.00m	24.30m	Schist	Up to 349ppm Li
24.30m	25.38m	Pegmatite (Coarse grained)	Weighted average of 294ppm Li
25.38m	30.23m	Schist	Up to 509ppm Li
30.23m	30.80m	Pegmatite (Fine grained)	Weighted average of 80ppm Li
30.80m	33.00m	Schist	Up to 232ppm Li
33.00m	33.38m	Pegmatite (Medium grained)	Weighted average of 65ppm Li

BSMD003

BSMD003
From (m)	To (m)	Composition	Lithium (ppm)
0.00m	25.54 m	Schist	Up to 114ppm Li
25.54m	29.23m	Pegmatite (Medium grained)	Weighted average of 132ppm Li
29.23m	32.85m	Schist	Up to 324ppm Li
32.85m	33.13m	Pegmatite (Coarse grained)	Weighted average of 293ppm Li
33.13m	33.66m	Schist	Up to 614ppm Li
33.66m	39.23m	Pegmatite (Very coarse grained)	Weighted average of 222ppm Li
39.23m	43.23m	Schist	Up to 1,064ppm Li
43.23m	56.75m	Marble	Up to 262ppm Li
56.75m	57.63m	Pegmatite (Medium grained)	Weighted average of 284ppm Li
57.63m	62.23m	Marble	Up to 278ppm Li

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BSMD003A - Redrilled

From (m)	To (m)	Composition	Lithium (ppm)
29.30m	33.17m	Schist	Up to 309ppm Li
33.17m	39.30m	Pegmatite (Coarse grained)	Weighted average of 492ppm Li
39.30m	40.40m	Schist	Up to 878ppm Li
40.40m	41.30m	Marble	Up to 574ppm Li

BSMD003B - Redrilled

From (m)	To (m)	Composition	Lithium (ppm)
30.25m	32.65m	Schist	Up to 360ppm Li
32.65m	34.02m	Pegmatite (Coarse grained)	Weighted average of 367ppm Li
34.02m	34.34m	Schist	Up to 878ppm Li
34.34m	39.25m	Pegmatite (Coarse grained)	Weighted average of 419ppm Li
39.25m	40.63m	Schist	Up to 714ppm Li
40.63m	41.90m	Marble	Up to 674ppm Li
41.90m	43.25m	Schist	Up to 322ppm Li

BSMD004

BSMD004
From (m)	To (m)	Composition	Lithium (ppm)
0.00m	25.37m	Schist	Upto 208ppm Li
25.73m	28.30m	Pegmatite (Mediumgrained)	Weighted average of 121ppm Li
28.30m	30.00m	Schist	Upto 386ppm Li
30.00m	31.42m	Pegmatite (Coarsegrained)	Weighted average of 363ppm Li
31.42m	43.65m	Schist	Upto 603ppm Li
43.65m	51.30m	Pegmatite (Mediumgrained)	Weighted average of 141ppm Li
51.30m	53.10m	Marble	Upto 251ppm Li
53.10m	56.60m	Pegmatite (Mediumgrained)	Weighted average of 154ppm Li
56.60m	63.54m	Marble	Upto 240ppm Li
63.54m	67.40m	Pegmatite (Mediumgrained)	Weighted average of 60ppm Li
67.40m	68.76m	Marble	Upto 69ppm Li
68.76m	69.25m	Pegmatite (Coarsegrained)	Weighted average of 58ppm Li
69.25m	90.15m	Marble	Upto 51ppm Li
90.15m	95.30m	Schist	Upto 588ppm Li
95.30m	96.83m	Pegmatite (Mediumgrained)	Weighted average of 691ppm Li
96.83	100.30m	Marble	Upto 734ppm Li

BSMD005

BSMD005
From(m)	To(m)	Composition	Lithium(ppm)
0.00m	17.00m	Schist	Upto 92ppm Li
17.00m	19.30m	Pegmatite(Finegrained)	Weighted average of 73ppm Li
19.30m	26.84m	Schist	Upto 60ppm Li
26.84m	31.45m	Marble	Upto 45ppm Li
31.45m	33.51m	Pegmatite(Mediumgrained)	Weighted average of 93ppm Li
33.51m	42.80m	Marble	Upto 61ppm Li
42.80m	45.58m	Pegmatite(Verycoarsegrained)	Weighted average of 180ppm Li

Rock-Chip Sample Results

Prosect	Samle ID	Li2O	Be	Cs	Ga	Nb	Rb	Sn	Ta
p	p	(%)	(ppm)	(ppm)	(ppm)	(ppm)	(ppm)	(ppm)	(ppm)
Manjaka	P0376	3.60	53.0	143.0	62.0	63.0	114.0	25.0	24.4
Manjaka	P0377	3.72	185.0	396.0	66.0	127.0	151.0	30.0	50.0
Manjaka	P0378	2.61	193.0	745.0	45.0	28.0	473.0	22.0	21.3
Manjaka	P0379	2.13	71.0	190.0	49.0	149.0	744.0	13.0	40.2
Manjaka	P0381	2.15	62.0	268.0	52.0	137.0	1,160.0	15.0	45.6

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Manjaka	P0382	0.83	336.0	707.0	38.0	126.0	1,560.0	10.0	61.5
Manjaka	P0383	4.54	465.0	994.0	73.0	131.0	1,050.0	28.0	59.5
Manjaka	P0384	1.34	52.0	651.0	41.0	12.0	2,210.0	16.0	20.3
Manjaka	P0385	1.67	516.0	800.0	59.0	138.0	3,380.0	10.0	106.0
Manjaka	P0386	1.43	835.0	828.0	54.0	141.0	3,140.0	9.0	100.0
Manjaka	P0387	2.17	277.0	352.0	41.0	66.0	956.0	16.0	37.7
Marirano	P0388	7.19	72.0	17.3	115.0	6.0	21.8	156.0	10.5
Marirano	P0389	5.53	556.0	266.0	95.0	13.0	268.0	111.0	9.7
Marirano	P0391	4.76	2500.0	1,060.0	77.0	7.0	104.0	91.0	9.2
Vohidahi	P0542	0.88	14.0	1,020.4	33.0	52.0	2,088.8	12.0	48.9
Tsarafara	P0545	0.13	23.0	181.6	27.0	55.0	489.4	3.0	15.4
Tsarafara	P0546	4.61	30.0	3,686.5	32.0	139.0	5,170.4	51.0	49.3
Tsarafara	P0547	0.85	7.0	592.3	41.0	81.0	783.7	19.0	89.2
Tsarafara	P0548	6.24	23.0	5,718.8	26.0	178.0	7,626.1	92.0	81.1
Tsarafara	P0549	3.13	7.0	2,860.1	12.0	104.0	2,082.4	29.0	13.6
Tsarafara	P0551	2.17	25.0	1,892.8	29.0	74.0	1,246.7	39.0	28.9
Tsarafara	P0552	5.67	18.0	6,141.5	30.0	162.0	2,848.4	90.0	62.1
Tsarafara	P0553	3.07	18.0	3,490.5	30.0	110.0	1,637.6	65.0	43.0
Tsarafara	P0554	3.63	21.0	3,663.6	31.0	104.0	1,689.9	56.0	44.3
Tsarafara	P0555	2.17	51.0	1,848.7	23.0	80.0	1,283.8	40.0	59.6
Tsarafara	P0556	2.55	17.0	2,136.7	35.0	86.0	1,596.1	50.0	57.0
Tsarafara	P0557	2.50	37.0	1,690.5	58.0	96.0	1,077.7	50.0	80.5
Tsarafara	P0558	4.45	13.0	3,740.2	41.0	234.0	2,622.9	56.0	120.6
Tsarafara	P0559	3.33	14.0	2,222.2	31.0	135.0	1,717.8	64.0	132.8
Tsarafara	P0561	4.45	22.0	3,481.5	40.0	133.0	2,486.2	90.0	48.0
Tsarafara	P0562	3.81	47.0	3,973.6	38.0	118.0	1,896.8	61.0	56.1
Millie's West	P0563	0.06	7.0	30.9	33.0	51.0	268.9	6.0	4.2
Millie's West	P0564	0.05	5.0	26.1	29.0	53.0	297.8	4.0	9.0
Millie's West	P0565	0.03	6.0	21.3	78.0	164.0	523.6	17.0	8.5
Millie's West	P0566	0.02	2.0	9.9	40.0	82.0	258.9	6.0	4.2
Millie's West	P0567	0.04	6.0	51.9	43.0	53.0	380.8	6.0	3.5
Millie's West	P0568	0.03	5.0	16.0	64.0	140.0	450.7	19.0	7.6
Millie's West	P0569	0.02	3.0	12.9	37.0	75.0	241.9	10.0	8.3
Millie's West	P0570	0.01	4.0	8.1	23.0	34.0	177.2	2.0	6.9
Ilapa	O0254	2.97	47.0	3,018.3	42.0	193.0	9,522.3	40.0	177.0
Ilapa	O0255	2.18	16.0	1,628.7	39.0	124.0	6,519.1	29.0	85.8
Ilapa	O0256	3.58	19.0	2,944.0	41.0	197.0	11,372.2	45.0	194.1
Ilapa	O0257	3.45	192.0	2,923.9	42.0	192.0	10,439.8	38.0	135.1
Ilapa	O0258	2.81	23.0	1,774.4	39.0	120.0	7,998.0	29.0	83.8
Ilapa	O0259	2.58	19.0	1,876.1	43.0	147.0	7,792.8	35.0	144.0

Channel Sample Results	Channel Sample Results	Channel Sample Results
Prospect	Sample Id	From (m)	To (m)	Li2O %	Be (ppm)	Cs (ppm)	Ga (ppm)	Nb (ppm)	Rb (ppm)	Sn (ppm)	Ta (ppm)
Millie's West	P0362	0.00	1.00	2.86	76.0	166.0	61.0	126.0	1,510	46.0	76.5
Millie's West	P0363	1.00	2.00	0.06	42.0	206.0	27.0	183.0	1,810	6.0	45.6
Millie's West	P0364	2.00	3.00	2.80	2.5	119.0	43.0	13.0	736	54.0	24.5
Millie's West	P0365	3.00	4.00	4.67	2.5	76.3	80.0	22.0	553	76.0	51.8
Millie's West	P0366	4.00	5.00	5.17	2.5	76.2	91.0	112.0	536	126.0	356.0
Millie's West	P0367	5.00	6.00	2.08	11.0	132.0	38.0	140.0	766	97.0	393.0
Millie's West	P0368	6.00	7.00	3.90	2.5	89.3	79.0	62.0	637	127.0	41.5
Millie's West	P0369	7.00	8.00	4.76	8.0	26.0	81.0	67.0	130	143.0	106.0

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												1 13 76.4 68.4 60.4 25.2 53.1 99.6 31.2 74.1 184.8 87.5 59.8 115.7 165.2 127.7 93.4 34.2 111.3
	Millie's West	P0370	8.00	9.00	4.26	49.0	75.5	88.0	139.0	545	81.0	76.4
	Millie's West	P0371	9.00	10.00	0.13	114.0	427.0	31.0	58.0	3,450	14.0	68.4
	Millie's West	P0372	10.00	11.00	0.29	62.0	300.0	41.0	60.0	2,670	17.0	60.4
	Millie's West	P0373	11.00	12.00	3.68	46.0	148.0	66.0	60.0	122	28.0	25.2
	Millie's West	P0374	12.00	13.00	0.73	743.0	131.0	33.0	275.0	496	32.0	53.1
	Millie's West	P0375	13.00	14.00	0.82	446.0	233.0	40.0	259.0	1,420	33.0	99.6
	Millie's West	O0021	0.00	1.00	1.91	378.0	190.2	58.0	97.0	1,444	46.0	31.2
	Millie's West	O0022	1.00	2.00	1.60	124.0	153.1	48.0	197.0	1,132	29.0	74.1
	Millie's West	O0023	2.00	3.00	0.59	9.0	228.7	34.0	85.0	2,086	31.0	184.8
	Millie's West	O0024	3.00	4.00	0.05	21.0	219.8	20.0	278.0	2,244	3.0	87.5
	Millie's West	O0025	4.00	5.00	0.07	280.0	324.4	28.0	66.0	2,842	7.0	59.8
	Millie's West	O0026	5.00	6.00	0.56	2333.0	695.4	35.0	159.0	1,470	20.0	115.7
	Millie's West	O0027	6.00	7.00	4.43	5.0	141.6	86.0	38.0	898	102.0	165.2
	Millie's West	O0028	7.00	8.00	2.03	11.0	227.2	70.0	120.0	1,525	110.0	127.7
	Millie's West	O0029	8.00	9.00	1.56	7.0	376.3	51.0	31.0	2,439	35.0	93.4
	Millie's West	O0030	9.00	10.00	2.13	228.0	111.5	71.0	23.0	333	54.0	34.2
	Millie's West	O0031	10.00	11.00	2.09	32.0	125.2	64.0	157.0	1,333	59.0	111.3

APPENDIX 2 – JORC CODE, 2012 EDITION – TABLE 1

Discussion and results within this appendix relate to the Bass Metals Ltd – Millie’s Reward Lithium Project, Madagascar Section 1 Sampling Techniques and Data

Criteria	JORC Code 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 sounds, 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 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 (e.g. submarine nodules) may warrant disclosure of detailed information.	Diamond drilling was used to obtain NTW size core, with the core split (either manually hand split or sawn using a circular saw) 50:50 to collect samples in maximum 1-metre intervals. Samples were taken along the depth intervals and lithological sub-division mark-ups to gather representative samples. Samples were collected within pegmatites, lithium-bearing pegmatites and host rocks. A total of 5 diamond holes were completed and 341.67 metres were drilled. Orientation soil samples were collected on surface across two known lithium- bearing pegmatite prospects. Samples were collected by manual augering (average depth of 45 cm) on 20m and 10m spacing across barren zones and 5m spacing across known lithium-bearing zones. The samples comprised sieved soils for four fractions, + 2mm, -2mm to +180µm, -180µm to +75µm and -75µm. Rock-chip samples were collected on surface and included in-situ composite and grab samples of pegmatites, lithium-bearing pegmatites and host rocks. Channel samples were collected in underground tunnel workings and included in- situ composite samples of pegmatites and lithium-bearing pegmatites in the roof and wall of the workings on 1 meter intervals.
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.).	Conventional wireline diamond drilling was used to obtain all drill core and drilling was undertaken with an EP200 hand portable drilling rig. The nominal core diameter was 56.2 mm. Coring was completed with appropriate diamond impregnated tungsten carbide drilling bits. Drill runs were completed employing 1.0 m NTW core barrel. Drill holes were inclined at 50° or 60 °, direction 130° or vertical at 90°. The core was not orientated as the material recovered was predominantly saprolitic and the fresh core was too broken.
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.	At the completion of each drill run the core was retrieved from the core tube. Core was then carefully transferred from the core barrel into the core trays for recovery measurements and calculations recorded by both the driller and the Project geologist. Drill hole BSMD003 was re-drilled due to poor core recovery and/or core loss within pegmatite zones. An overall core recovery of 78 % was achieved for all sampled core. Core recovery was problematic within the saprolitic material and the more coarse grained pegmatites. There is no known relationship that exists between sample recovery and grade at this time.
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,	Diamond drill core, soil, and rock-chip samples were geologically logged and geological recording of relevant data was captured on Bass Metals logging templates. All data was codified to a set company codes system as per sampling and logging procedures, which are in place. All logging included lithology, minerals, weathering, colour, grain size, texture,

	etc.) photography. The total length and percentage of the relevant intersections logged.	fabric etc., which is quantitative and is recorded on the logging sheets. All drill core was photographed prior to geological logging and after sampling and images were digitally catalogued. Photographs have been taken as a qualitative check on logging when the need arises. All drill core intersections (100%) were 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 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.	The NTW core was manually hand split or sawn to produce half core (50:50) samples. All equipment was cleaned according to best practice procedures prior to cutting and sampling. Appropriate and documented techniques were used to collect samples in maximum 1-metre intervals. Samples were taken along the depth intervals and lithological sub-division mark-ups to gather representative samples. All pegmatites were sampled plus up to 3 m contiguous host rock. The soil samples were sun dried in the field, and four fractions were sieved, + 2mm, -2mm to +180µm, -180µm to +75µm and -75µm. The sieved samples of approx. 100g were packed in Kraft envelopes and sent to a laboratory in Antananarivo (Madagascar) for preparation. Samples were then pulverising that 85% pass -75µm. The drill core. rock-chip and channel samples were bagged and sent to a laboratory in Antananarivo (Madagascar) for preparation. Samples were oven dried, manually crushed to minus 2mm, split twice through a 50/50 riffle splitter to obtain a representative sub-sample, weighing approx. 100g, and then pulverise that 85% pass -75µm. Sample sizes are practical and appropriate for the grain size of the material being sampled.
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 (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precision have been established.	The pulp samples were sent to independent laboratories either SGS - Randfontein in South Africa or INTERTEK - Perth in Australia for multi element analysis by aqua regia partial digestion with final analysis by inductively coupled atomic emission spectroscopy (ICP-AES) and mass spectrometry (ICP-MS) for the soil samples and for multi element analysis by sodium peroxide fusion with final analysis by inductively coupled atomic emission spectroscopy (ICP-AES) and mass spectrometry (ICP-MS) for the drill core, rock-chip and channel samples. Other elements beyond Li that were analysed for included Be, Cs, Ga, Nb, Rb, Sn, Ta, Tl (pathfinder elements) and Ca, K, Cr, Mn, Fe, Ni, Zn, Mg, Al, Si, P, S, V, As, Sr, Mo, Pb, Bi. Certified lithium standards (GTA-01, GTA-03 and GTA-04), silica blanks (AMIS0305) and duplicates (a second sample of the same interval) were inserted with the dispatch of the samples to the independent laboratories SGS - Randfontein in South Africa and INTERTEK - Perth in Australia. The insertion rate of standards/blanks were 1 in 20, and duplicates were 2 in 100. SGS Randfontein and INTERTKEK Perth laboratories will inserted check samples (blanks, standards and duplicates) to maintain QAQC standards. All in-house and laboratory standards, blanks and duplicates results were reviewed. Performance of the primary laboratory across all assay batches were within acceptable tolerance levels.
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel. The use of twinned holes.	All work was completed by Vato Consulting personnel. No twinned holes were drilled as this was the first phase of drilling. All data was collected initially on paper log sheets in the field. This data was hand entered into spreadsheets and validated by the Principal Geologist. All paper log

	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. Discuss any adjustment to assay data.	sheets were scanned, and electronic spreadsheets stored together with the photographs of the geological features logged. The master collar, lithology; geotechnical and assay database with all photographs are backed-up and stored on an external hard drive. Metallic Lithium parts per million was converted to percentage and then multiplied by a conversion factor of 2.153 to report Li2O for drill core, rock-chip and channel samples.
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.	Hand-held Garmin GPS’s were used to locate collar locations, and interim location coordinates were completed taking average readings up to 5 minutes and with estimated positional errors between 1 and 3 meters. The WGS84 UTM Zone 38S projection system is used at the Millie’s Reward Lithium Project. Topographical control is considered sufficient for the stage of exploration.
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.	Diamond drill holes were spaced approx. 15-20 m apart and with hole inclination and strike aligned perpendicular to the estimated pegmatite and host rock orientations. Orientation soil samples lines were across known lithium-bearing pegmatite prospects with sample spacing of 20m, 10m and 5m. Rock-chip and channel samples were collected across lithium prospects. The data is not appropriate for use in estimating a Mineral Resource and is not intended for such use. There has been insufficient exploration to define a Mineral Resource. No sample compositing has been applied, other than the weighted average calculation of mineralised intercepts in the diamond drill core and underground tunnel workings.
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 drilled to test continuation of pegmatite bodies within the marble and schist host rock and to get a better understanding of the geometry and mineralisation of the pegmatites. Orientation soil samples lines were approximately 90 degrees to the strike of pegmatite and lithological contacts. No sampling bias is believed to have been introduced.
Sample security	The measures taken to ensure sample security.	Samples were stored in a secure storage area at the Bass Metals filed camp. Samples bags and/or Kraft envelopes were sealed as soon as sub-sampling was completed, and stored securely until dispatch to the laboratories in South Africa and Australia via courier.
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	No audits of the sampling techniques and data was carried out due to the early stage of exploration It is considered that industry best practice methods have been implemented by the company at all stages of exploration.

Section 2 Reporting of Exploration Results

(Criteria listed in the preceding section also apply to this section)

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 license to operate in the area.	Permit no’s 4383 and 11545 are in the process of being transferred as per the sales agreement, from the vendor to LIMADA SARL which is the wholly owned subsidiary of the ASX listed company, Bass Metals Ltd. For Permit no 39808 Bass Metals Ltd has secured the lithium mining rights with Malagasy company, Ruby-Red Madagascar SARL.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	In 2012, Ruby-Red Madagascar sampled the historical lithium-bearing pegmatites and collected 8 in-situ rock-chip samples. Results varied between 1.20% and 6.86% Li2O (averaging 3.72% Li2O). In 2017, Vato Consulting sampled the historical lithium-bearing pegmatites and collected 14 in-situ rock-chip samples. Results varied between 0.03% and 7.08% Li2O (averaging 1.77% Li2O).
Geology	Deposit type, geological setting and style of mineralisation.	The project occurs within the Itremo Sub-Domain and is characterised by a group of stratified rocks composed of very pure quartzite, mature metashale and dolomitic marble. The Itremo rocks are intruded by and tectonically interleaved with the Imorona-Itsindro and Ambalavao Suites. The Imorona- Itsindro intrusions vary in composition from gabbros, monzonites, syenites, sub- alkaline and alkaline granites and that of Ambalavao is mainly granitic in composition. In Madagascar, lithium-bearing pegmatites were historically classified as “sodalithic pegmatites” in view of their high content of sodic feldspar (albite), in comparison with lithium depleted pegmatites which are rich in potassic feldspar (microcline). In Madagascar, lithium-bearing minerals include Lepidolite (lithium mica) and Spodumene (lithium silicate). In Madagascar, lithium-bearing pegmatites occur as dikes and sills up to 10- 50m in thickness and up to several hundred metres in length.
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 Drill 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 summary of all information material to the understanding of the exploration results including a tabulation of specific data is supplied in Appendix 1 in the announcement. No Mineral Resource has been estimated over the deposit as yet.
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	Drill core and channel samples from the underground tunnel workings through the mineralised pegmatite has been reported on a length weighted basis over

	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.	the mineralised intersection. No data aggregate done. Metallic Lithium parts per million was converted to percentage and then multiplied by a conversion factor of 2.153 to report Li2O for drill core, rock-chip and channel samples.
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 aim of the drilling program was to test the continuation of pegmatite bodies within the marble and schist host rock and to get a better understanding of the geometry and mineralisation of the pegmatites. Several pegmatite bodies are stacked within the marble and schist host rocks with dips at between 45° and 70°. The orientation soil sample and rock-chip sample results reported here were collected from surface, any potential depths of mineralisation or orientations can only be inferred from geological observations on the surface and hence are speculative in nature. The channel sample results reported here were collected from a section of the underground tunnel workings along strike and depth of the pegmatite, and the width of mineralisation of the pegmatite body was not confirmed.
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.	See diagrams in the announcement and it contains all relevant information required for the reader to understand the scale, orientation and nature of the project.
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 avoiding misleading reporting of Exploration Results.	The summary table of all the samples are contained within Appendix 1 of the announcement and the full data has been reported.
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.	Not applicable.
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.	Additional detailed geological mapping, and soil sampling programs are recommended to qualify and quantify the anomalous areas in greater detail prior to additional drill testing.