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LIGHTNING MINERALS LTD Capital/Financing Update 2024

Oct 2, 2024

65212_rns_2024-10-02_fddbff1f-d51b-43e5-98c2-38632627ea6b.pdf

Capital/Financing Update

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Lithium Targets Defined in Brazil with Positive Phase 1 Soil Sampling Assays

ASX Announcement 03 October 2024

Lightning Minerals (L1M or the Company) is pleased to announce the return of encouraging assays from its first batch of soil sampling results from the Sidrônio project (now renamed Canabrava) in the prolific Lithium Valley region of Minas Gerais, Brazil. Peak assays of up to 113ppm lithium have been returned from a priority target area on the western part of the Canabrava project. This provides increased confidence in the prospectivity of the region. Multiple pegmatites and pegmatite float material have also been identified during ground reconnaissance works, further supporting the exploration thesis. The results also provide the potential first drill target generated from the first phase of work.

Soil sampling, ground reconnaissance and geophysics interpretation works are ongoing with further results to come over the next few weeks from the Canabrava, Caraíbas and Esperança projects. Further infill soil sampling will be now conducted over the target area to reduce sample spacing and improve targeting.

The project name will be changed from Sidrônio to Canabrava moving forwards due to local sensitivities.

HIGHLIGHTS

  • Analytical results returned with up to 113ppm lithium occurring within schists of the Salinas Formation

  • Phase 1 soil sampling program complete at the Canabrava project with 129 samples collected

  • Multiple pegmatite occurrences and pegmatite float material identified across the project area via the coincident geological mapping campaign

  • Infill soil works planned to begin immediately to provide further confidence for drill targeting

  • l 6 505 Little Collins St Melbourne VIC 3000 Australia | [email protected] | (08) 9429 8806

Lightning Minerals Managing Director Alex Biggs said , “Positive Stage 1 results from the now renamed Canabrava prospect are very encouraging. It’s great to see the area that was highlighted as a priority target has returned strong initial results and provides further opportunity to complete infill soil sampling in this area; the purpose being to more accurately and confidently define drill targets. The Lithium Valley region of Minas Gerais is a highly prospective, easy to operate in, low-cost jurisdiction and is starting to yield positive results already for the Company. Additional soil sampling results for the Caraíbas project are pending and due imminently as well as soil sampling works on the Esperança project to begin soon as well. We are making great progress in Brazil, these early-stage works are critical to ensuring a focused and effective drilling campaign and the speed and quality of the work is testament to our geology team. As we have always discussed, we are committed to the lithium thematic and what better place to back that than one of the most cost effective and prospective lithium regions on the planet. We look forward to exciting further updates soon”.

Level 11 40 The Esplanade Perth WA 6000 Australia | [email protected] | (08) 9429 8806

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Positive Initial Soil Sampling Assays at Canabrava (previously Sidrônio)

Field soil sampling activities began during June at the Canabrava project in Minas Gerais, Brazil. The program is now complete with the collection 129 samples (Figure 1). Samples were submitted to ‘SGS Geosol Laboratórios Ltd’ of Belo Horizonte and the results are now available. Lithium values are considered positive with two areas of elevated lithium returned along the 400m spaced sample line traverses. Results in these two areas are broadly coincident with the orientation of a nearby sub cropping pegmatite recorded as part of the first pass geological mapping program that was conducted in parallel to the soil sampling exploration program (Figure 2). The orientation of the target trend area correlates with a linear topographic high that has an undifferentiated cover sequence obscuring the underlying schists of the Salinas Formation to the east. This is the reason that the samples in the traverse to the east of the identified trend zone were not collected during the Phase 1 program. The area will now be revisited to sample on 100m traverses to determine if the anomalism continues until the cover unit presents to the east.

A thesis regarding the structural setting local to the lithium in soil anomalism is being developed and will be aided by the finalisation of geophysics interpretation works which are due imminently. Thesis development will focus on identifying structural corridors that may present a dilational strain regime suitable for pegmatite emplacement similar to those seen at other known deposits in the region. If similar elevations in lithium are returned from the planned infill soil sampling campaign to the east this will also be considered as a high priority drill target area.

Figure 1: Soil sampling results (lithium) for 129 samples taken from Canabrava project area. The interpreted trend zone for immediate follow up field works is shown in yellow. (SIRGAS 2000/UTM Z23S)

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l 6 505 Little Collins St Melbourne VIC 3000 Australia | [email protected] | (08) 9429 8806
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Level 11 40 The Esplanade Perth WA 6000 Australia | [email protected] | (08) 9429 8806

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Figure 2: Zoomed view of Figure 1 target area showing soil sampling results (lithium), interpreted subcropping pegmatite locations, and point mapped pegmatite data (SIRGAS 2000/UTM Z23S)

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Pegmatite Occurrences Demonstrate Potential Prospectivity

Beyond the areas of elevated lithium, a considerable number of pegmatite sub crops and float has been l 6 505 Little Collins St Melbourne VIC 3000 Australia | [email protected] | (08) 9429 8806 recorded during the mapping campaign with more than 25 pegmatite occurrences mapped within the local area (Figure 2). The mapping program continues to uncover what might be a broad pegmatite system hosted within Salinas Formation Schists, which is significant in a regional context as these add to the prospectivity of the project areas.

Typical examples of the pegmatite outcrops are shown in Figure 3 (A) and Figure 3 (B) below.

A full list of field descriptions for the pegmatite locations is included in Appendix 2 Table 2, and the analytical results for the rock chip samples included in Appendix 1 Table 2.

Level 11 40 The Esplanade Perth WA 6000 Australia | [email protected] | (08) 9429 8806

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Figure 3: Photography of sites VLM081 (A) and VLM080 (B) of outcropping pegmatites within the Canabrava Project area. (SIRGAS 2000/UTM Z23S)

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Next Stages of Work at Canabrava (formerly Sidrônio)

A follow up infill soil sampling program consisting of approximately 100 samples on a 100m line spacing, and 50m sample spacing is currently being arranged and will begin within the next week.

Local specialist lithium geologists will revisit the area and undertake further mapping to better constrain the pegmatite outcrops and orientations with a view to generate drill targets ready for an inaugural drilling campaign.

Ongoing Works in Brazil

Phase 1 soil sampling is ongoing at the Caraíbas project with results expected over the coming weeks, testing priority targets identified during ground reconnaissance works and initial desktop studies. Soil sampling works are being prioritised at the Esperança project and are scheduled to begin over the next week, again targeting priority target areas that have already been identified in the field and through desktop analysis.

Plans are now being developed to begin infill soil sampling at the target areas at the Canabrava project as identified in this announcement.

l 6 505 Little Collins St Melbourne VIC 3000 Australia | [email protected] | (08) 9429 8806 Geophysics interpretation works are also pending across all three project areas. The combination of ground reconnaissance, soil sampling and geophysics is critical to ensuring confident identification of targets for drilling.

Level 11 40 The Esplanade Perth WA 6000 Australia | [email protected] | (08) 9429 8806

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Figure 4: Lightning Minerals’ Brazilian tenements in regional context of the Lithium Valley region of Minas Gerais

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Level 11 40 The Esplanade Perth WA 6000 Australia | [email protected] | (08) 9429 8806

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Figure 5: Local project location of Lightning Minerals’ Brazilian lithium projects

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Approved for release by the Board of Directors

-END-

More information at www.lightningminerals.com.au

Level 11 40 The Esplanade Perth WA 6000 Australia | [email protected] | (08) 9429 8806

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ABOUT LIGHTNING MINERALS

Lightning Minerals is a mineral exploration company, listed on the Australian Securities Exchange (ASX:L1M) and focused on the exploration of critical minerals and lithium at its tenements across Western Australia. The recent acquisition of the Caraíbas, Sidrônio (now Canabrava) and Esperança lithium projects in Minas Gerais, Brazil are potentially transformational to the Company’s success in the lithium sector. The Company also owns the Dundas project in the prolific Dundas region of Western Australia, the Dalmas and Hiver lithium projects in Quebec, Canada, another significant and evolving lithium region globally. The Company also holds other projects in Western Australia which include Mt Jewell, Mt Bartle and Mailman Hill which are prospective for base metals and critical minerals.

FORWARD LOOKING STATEMENTS

Information included in this release constitutes forward-looking statements. Often, but not always, forward looking statements can generally be identified by the use of forward-looking words such as “may”, “will”, “expect”, “intend”, “plan”, “estimate”, “anticipate”, “continue”, and “guidance”, or other similar words and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production outputs.

Forward looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance and achievements to differ materially from any future results, performance or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licences and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which the Company operates or may in the future operate, environmental conditions including extreme weather conditions, recruitment and retention of personnel, industrial relations issues and litigation.

Forward looking statements are based on the Company and its management’s good faith assumptions relating to the financial, market, regulatory and other relevant environments that will exist and affect the Company’s business and operations in the future. The Company does not give any assurance that the assumptions on which forward looking statements are based will prove to be correct, or that the Company’s business or operations will not be affected in any material manner by these or other factors not foreseen or foreseeable by the Company or management or beyond the Company’s control.

Although the Company attempts and has attempted to identify factors that would cause actual actions, events or results to differ materially from those disclosed in forward looking statements, there may be other factors that could cause actual results, performance, achievements or events not to be as anticipated, estimated or intended, and many events are beyond the reasonable control of the Company. Accordingly, readers are cautioned not to place undue reliance on forward looking statements. Forward looking statements in these materials speak only at the date of issue. Subject to any continuing obligations under applicable law or any relevant stock exchange listing rules, in providing this information the Company does not undertake any obligation to publicly update or revise any of the forward-looking statements or to advise of any change in events, conditions or circumstances on which any such statement is based.

COMPETENT PERSONS STATEMENT

l 6 505 Little Collins St Melbourne VIC 3000 Australia | [email protected] | (08) 9429 8806

The information contained herein that relates to exploration results is based on information compiled or reviewed by Mr Jarrad Woodland, who is a Competent Person and a member of the Australasian Institute of Mining and Metallurgy. Mr Woodland is a full-time employee of the Company. Mr Woodland has sufficient experience which is relevant to the style of mineralisation and types of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Persons as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr Woodland consents to the inclusion of his name in the matters based on the information in the form and context in which it appears. Mr Woodland holds options in Lightning Minerals.

REFERENCES TO PREVIOUS ANNOUNCEMENTS

The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements, and that all material assumptions and technical parameters have not materially changed. The Company also confirms that the form and context in which the Competent Person’s findings are presented have not been materially modified from the original market announcement.

Level 11 40 The Esplanade Perth WA 6000 Australia | [email protected] | (08) 9429 8806

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Appendix 1: Canabrava – JORC Code 2012 Table 1 Criteria

The Table below summarises the assessment and reporting criteria used for exploration results for the Canabrava Exploration Project and reflects the guidelines in Table 1 of The Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves (The JORC 2012 Code).

Section 1 - Sampling Techniques and Data

Criteria 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.		 •
Data in this document relates to geochemical soil and rock chip sampling.
•
Soil sampling is a reconnaissance stage exploration technique which may indicates the geochemical parameters of the
underlying or nearby bedrock geology. Mineralised lithologies of the target commodity may elevate elemental proportions
in the soil and provide vectors toward location the mineralised body.
•
Soil samples were collected using pick and shovel from depths of approximately 30cm below the surface.
•
Rockchip samples were collected at the discretion of the field geologist, this method is appropriate given the early stage of
exploration at the Canabrava Project
•
Approximately 200g of material from the deepest sample horizon is passed through a 2mm sieve, with the -2mm retained
for assay.
•
Samples were submitted to SGS Geosol Laboratórios Ltd’ of Belo Horizonte.
•
Sampling was carried out using Lightning Minerals procedures and QAQC processes as per current industry standard
practice.
•
Sample site locations are recorded using a Garmin Map 62s handheld device and are reported in projection SIRGAS 2000 /
UTM 23S
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).		 •
No drilling is being reported
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 drilling is being reported
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 andpercentage of the relevant intersections logged.		 •
No drilling is being reported
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.		 •
Soil Samples are collected in the field into small kraft cardboard bags and are 200gm per unit.
•
Rock chip samples are approximately 1-3kg and are collected into pre numbered calico bags.

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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.		 •
Industry standard QAQC practices of field duplicates and the appropriate use of laboratory provided Certified Reference
Material for low level lithium are used for all laboratory sample submissions. Field Duplicates are utilised by the company
at a rate of 1:50 samples.
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.		 •
Samples were submitted to SGS Geosol Laboratórios Ltd’ of Belo Horizonte Minas Gerais Brazil.
•
Analysis procedures are considered appropriate for Lithium and Multi element analysis.
•
Samples are prepared and analysed using SGS technique PRS80J and are analysed via optical emission spectroscopy analysis
using code ICP90A. Determination by Fusion with Sodium Peroxide - ICP OES.
•
Elements analysed at ppm limits for soil samples included Al, As, B, Ba, Be, Ca, Cd, Co, Cr, Cu, Fe, K, La, Li, Mg, Mn, Mo, Nb,
Ni, P, Pb, Sb, Sc, Sn, Sr, Ta, Ti, V, W, Y, Zn
•
Elements analysed at ppm limits for rock chip samples included Ag, Al,As, B,Ba, Be,Bi, Ca,Cd, Ce,Co, Cr, Cs, Cu, Dy, Er, Eu,
Fe, Ga, Gd, Ge, Hf, Ho, In, K, La, Li, Lu, Mg, Mn, Mo, Nb, Nd, Ni, P, Pb, Pr, Rb, Sb, Sc, Sm, Sn, Sr, Ta, Tb, Th, Ti, Tl, Tm, U, V,
W, Y, Yb, Zn, Zr
•
LaboratoryCRM material has been utilised at this earlystage of exploration works.
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.		 •
No verification will be undertaken for these initial samples as they will not be used in any resource estimate.
•
The samples are to determine the levels of Li and other valuable elements in soil 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.		 •
Handheld Garmin GPS instruments were used to geo locate each sample location, these instruments are understood to be
accurate within a ±5m in the horizontal and vertical planes.
•
The level of topographic control offered by a handheld GPS is considered sufficient for early exploration auger drilling.
•
All samples were collected in the SIRGAS 2000 / UTM zone 23S
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.		 •
The soil and rock chip sample spacing is considered appropriate for the reporting of the exploration results.
•
No Mineral Resource or Ore Reserve Estimates have been completed.
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.		 •
The collection of soil and rock chip sampling data was targeted as best possible at this early stage of exploration activities.
Sample security The measures taken to ensure sample security. •
The chain of custody for sampling procedures and sample analysis was managed by the contract geological consultants
duringcollection

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The results of any audits or reviews of sampling techniques and data. •
No audits or reviews of sampling techniques have been conducted to date.

Section 2 - Reporting of Exploration Results

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 Canabrava Project (formerly Sidrônio) is located approximately 18km south-south east of the town of Salinas, Minas
Gerais, Brazil.
•
The Canabrava Project area totals ~16.7km2and comprises two granted exploration licences 830440/2015 and 830439/2015
•
The Tenements are considered in good standing at the time of this report.
Exploration done by other
parties
Acknowledgment and appraisal of exploration by other parties.		 •
The Canabrava Project (formerly Sidrônio) is at a very early stage and little to no recorded work has been completed by prior
explorers.
•
Recent exploration has included a small reconnaissance explorationprogram by project vendor Bengal Mining.
Geology Deposit type, geological setting and style of mineralisation. •
No known mineral deposits occur within project tenure.
•
The Canabrava Project (formerly Sidrônio) geology comprises Neoproterozoic age sedimentary rocks of Araçuaí Orogen
intruded by pegmatites interpreted to originate from the fractionation of magmatic fluids from the peraluminous S-type post
tectonic granitoids of Araçuaí Orogen.
•
The target commodityis hardrock lithium within lithium-caesium-tantalumpegmatites.
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
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.		 •
No drillhole information is reported.
•
No material information has been excluded from this report, laboratory analytical results have been adequately
communicated and described within the 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.
•
No levelling of the raw geochemical data was undertaken.
•
Plan images have been generated using QGIS software.
•
No metal equivalent values are reported.
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’).
•
No drillhole information is reported.
•
There is insufficient data provided by the mapping and geochemical results contained within this report for a relationship
between pegmatite and mineral resources to be reported.

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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.		 •
Appropriate reporting of results has been included in the body of this announcement; the plans, or lack thereof suitably
represent the nature of the results.
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.		 •
Comprehensive reporting of soil and rock chip geochemical results within the Canabrava Project (formerly Sidrônio) has been
included in Appendix 1.
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.		 •
All meaningful data and relevant information have been included in the body of the report.
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.		 •
Follow up infill soil sampling is currently being planned and is expected to begin imminently, however at the time of reporting
the program has not yet begun.

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Appendix 1 - Table 1: Canabrava Soil Sampling Assays

Sample ID Easting (UTM 23S) Northing (UTM 23S) Be (ppm) Li (ppm) Nb (ppm) Sn (ppm) Ta (ppm) W (ppm) Y (ppm)
SOLM0002 797048 8190776 <2.5 84 <5 <25 10 <25 32
SOLM0003 797047 8190826 <2.5 41 <5 <25 <5 <25 33
SOLM0004 797048 8190876 <2.5 63 <5 <25 13 <25 30
SOLM0005 797048 8190926 <2.5 53 11 <25 <5 <25 34
SOLM0006 797048 8190976 <2.5 54 13 <25 11 <25 28
SOLM0007 797048 8191026 6 32 <5 <25 17 <25 32
SOLM0008 797048 8191076 <2.5 25 <5 <25 <5 <25 19
SOLM0009 797048 8191126 <2.5 35 <5 <25 <5 <25 19
SOLM0010 797048 8191176 <2.5 43 12 <25 <5 <25 20
SOLM0011 797446 8191071 <2.5 51 11 <25 <5 <25 10
SOLM0012 797446 8191020 6 57 <5 <25 <5 <25 24
SOLM0013 797447 8190971 6 33 <5 <25 37 <25 37
SOLM0014 797444 8190925 <2.5 43 13 <25 <5 <25 18
SOLM0015 797450 8190872 <2.5 63 <5 <25 14 <25 32
SOLM0016 797444 8190813 <2.5 81 12 <25 12 <25 31
SOLM0017 797447 8190771 <2.5 54 <5 <25 52 <25 29
SOLM0018 797847 8190966 <2.5 27 15 <25 <5 <25 11
SOLM0019 797847 8190916 <2.5 33 18 <25 25 <25 13
SOLM0020 797848 8190864 7 40 <5 <25 43 <25 15
SOLM0021 797847 8190816 <2.5 35 <5 <25 12 <25 28
SOLM0022 797849 8190814 <2.5 63 11 <25 <5 <25 30
SOLM0023 797847 8190766 6 59 <5 <25 47 <25 34
SOLM0024 798649 8190905 8 39 15 <25 10 <25 36
SOLM0025 798631 8190856 6 21 13 <25 35 <25 28
SOLM0026 798646 8190804 <2.5 30 19 <25 17 <25 32
SOLM0027 798649 8190755 <2.5 30 11 <25 18 <25 37
SOLM0028 799047 8191149 9 22 16 <25 <5 <25 47
SOLM0029 799049 8191099 6 23 <5 <25 17 <25 35
SOLM0030 799048 8191053 5 19 13 <25 35 <25 33

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SOLM0031 799045 8191001 6 20 <5 <25 34 <25 36
SOLM0032 799040 8190953 6 26 16 <25 10 <25 75
SOLM0033 799049 8190902 <2.5 28 <5 <25 47 <25 26
SOLM0034 799051 8190799 <2.5 22 13 <25 <5 <25 49
SOLM0035 799048 8190753 <2.5 35 11 <25 19 <25 26
SOLM0036 799447 8191344 <2.5 28 16 <25 10 <25 21
SOLM0037 799448 8191295 <2.5 51 <5 <25 <5 <25 48
SOLM0038 799446 8191248 <2.5 41 15 <25 14 <25 23
SOLM0039 799447 8191198 7 65 11 <25 <5 <25 46
SOLM0040 799448 8191144 <2.5 30 <5 <25 <5 <25 29
SOLM0042 799448 8191091 7 29 <5 <25 <5 <25 35
SOLM0043 799448 8191047 7 32 <5 <25 17 <25 37
SOLM0044 799447 8190992 7 38 13 <25 <5 <25 36
SOLM0045 799448 8190944 <2.5 21 <5 <25 <5 <25 32
SOLM0046 799448 8190895 6 37 <5 <25 <5 <25 46
SOLM0047 799448 8190847 5 13 <5 <25 <5 <25 34
SOLM0048 799445 8190797 6 36 <5 <25 <5 <25 34
SOLM0049 799448 8190746 <2.5 32 <5 <25 <5 <25 27
SOLM0050 794647 8191963 <2.5 66 <5 <25 <5 <25 37
SOLM0051 794647 8192013 <2.5 32 <5 <25 <5 <25 33
SOLM0052 794647 8192062 <2.5 33 <5 <25 <5 <25 33
SOLM0053 794649 8192113 <2.5 45 40 <25 <5 <25 31
SOLM0054 794650 8192165 <2.5 66 <5 <25 <5 <25 40
SOLM0055 794669 8192215 <2.5 60 <5 <25 22 <25 46
SOLM0056 794648 8192266 <2.5 93 <5 <25 <5 <25 32
SOLM0057 794648 8192314 <2.5 90 <5 <25 <5 <25 36
SOLM0058 794647 8192364 <2.5 70 <5 <25 <5 <25 39
SOLM0059 794646 8192414 <2.5 55 <5 <25 <5 <25 40
SOLM0060 794647 8192464 <2.5 56 <5 <25 <5 <25 36
SOLM0061 794648 8192512 8 113 16 <25 <5 <25 35
SOLM0062 794649 8192511 8 101 15 <25 <5 <25 33
SOLM0063 794649 8192560 <2.5 55 <5 <25 <5 <25 34

==> picture [842 x 53] intentionally omitted <==

SOLM0064 794648 8192612 <2.5 36 <5 <25 <5 <25 35
SOLM0065 794646 8192666 <2.5 61 <5 <25 <5 <25 33
SOLM0066 794647 8192713 <2.5 45 <5 <25 <5 <25 32
SOLM0067 794646 8192766 <2.5 56 <5 <25 <5 <25 40
SOLM0068 794647 8192817 <2.5 46 <5 <25 <5 <25 38
SOLM0069 794647 8192864 <2.5 39 <5 <25 <5 <25 30
SOLM0070 794646 8192912 <2.5 24 <5 <25 <5 <25 36
SOLM0071 794645 8192967 <2.5 38 <5 <25 <5 <25 33
SOLM0072 794647 8193013 <2.5 43 <5 <25 <5 <25 37
SOLM0073 794645 8193064 <2.5 27 <5 <25 <5 <25 35
SOLM0074 794646 8193113 <2.5 20 <5 <25 <5 <25 37
SOLM0075 794648 8193165 <2.5 5 <5 <25 <5 <25 41
SOLM0076 794646 8193211 <2.5 12 <5 <25 <5 <25 32
SOLM0077 794626 8193564 <2.5 22 <5 <25 <5 <25 42
SOLM0078 794648 8193615 <2.5 18 <5 <25 <5 <25 47
SOLM0079 795048 8191957 <2.5 53 <5 <25 <5 <25 30
SOLM0080 795047 8192008 5 43 <5 <25 <5 <25 35
SOLM0082 795047 8192056 <2.5 59 <5 <25 <5 <25 38
SOLM0083 795046 8192104 5 45 <5 <25 <5 <25 36
SOLM0084 795048 8192153 <2.5 30 <5 <25 <5 <25 22
SOLM0085 795046 8192205 <2.5 74 <5 <25 <5 <25 36
SOLM0086 795049 8192254 6 103 <5 <25 <5 <25 35
SOLM0087 795048 8192304 5 102 <5 <25 <5 <25 42
SOLM0088 795046 8192357 6 95 <5 <25 <5 <25 40
SOLM0089 795044 8192411 <2.5 67 <5 <25 <5 <25 44
SOLM0090 795044 8192460 <2.5 62 11 <25 <5 <25 42
SOLM0091 795046 8192511 <2.5 45 <5 <25 <5 <25 31
SOLM0092 795038 8192556 <2.5 64 <5 <25 <5 <25 18
SOLM0093 795045 8192610 <2.5 46 <5 62 41 <25 20
SOLM0094 795048 8192658 <2.5 63 <5 <25 <5 <25 24
SOLM0095 795047 8192705 <2.5 53 <5 66 <5 <25 32
SOLM0096 795045 8192758 <2.5 58 <5 <25 15 <25 27

==> picture [842 x 53] intentionally omitted <==

SOLM0097 795044 8192811 <2.5 52 <5 <25 24 <25 14
SOLM0098 795045 8192861 <2.5 38 <5 <25 42 <25 11
SOLM0099 795046 8192906 <2.5 38 <5 <25 <5 <25 14
SOLM0100 795045 8192962 <2.5 51 <5 108 19 <25 24
SOLM0101 795046 8193007 <2.5 36 <5 51 55 <25 22
SOLM0102 795044 8193002 <2.5 36 <5 <25 13 <25 15
SOLM0103 795050 8193056 <2.5 32 <5 <25 23 <25 25
SOLM0104 795046 8193110 <2.5 34 <5 <25 31 <25 29
SOLM0105 795047 8193158 <2.5 22 <5 51 <5 <25 16
SOLM0106 795044 8193209 <2.5 14 <5 <25 <5 <25 8
SOLM0107 795048 8193608 <2.5 25 <5 151 <5 <25 22
SOLM0108 795428 8191957 <2.5 34 <5 <25 <5 <25 12
SOLM0109 795445 8192299 <2.5 17 <5 <25 <5 <25 11
SOLM0110 795449 8192353 <2.5 18 <5 <25 11 <25 16
SOLM0111 795446 8192404 <2.5 18 <5 <25 <5 <25 17
SOLM0112 795451 8192455 <2.5 5 <5 <25 <5 <25 14
SOLM0113 795447 8192502 <2.5 17 17 <25 20 <25 32
SOLM0114 795446 8192552 <2.5 5 <5 <25 <5 <25 22
SOLM0115 795446 8192602 <2.5 19 <5 <25 11 <25 26
SOLM0116 795448 8192651 <2.5 14 <5 <25 <5 <25 15
SOLM0117 795446 8192698 <2.5 18 <5 217 34 <25 9
SOLM0118 795445 8192749 <2.5 11 <5 58 <5 <25 14
SOLM0119 795447 8192800 <2.5 12 10 <25 <5 <25 18
SOLM0120 795449 8192849 <2.5 29 <5 <25 <5 <25 23
SOLM0122 795446 8192902 <2.5 20 <5 <25 <5 <25 23
SOLM0123 795447 8192954 <2.5 19 <5 <25 <5 <25 25
SOLM0124 795446 8193003 <2.5 5 <5 <25 60 <25 15
SOLM0125 795450 8193602 <2.5 17 11 <25 19 <25 19
SOLM0126 795843 8192656 <2.5 15 <5 <25 <5 <25 27
SOLM0127 795846 8192702 <2.5 17 <5 <25 <5 <25 20
SOLM0128 795845 8192755 <2.5 5 <5 <25 20 <25 17
SOLM0129 795845 8192805 <2.5 14 <5 52 <5 <25 23

==> picture [842 x 53] intentionally omitted <==

SOLM0130 795846 8192854 <2.5 5 <5 <25 <5 <25 41
SOLM0131 795849 8192905 <2.5 5 <5 <25 <5 <25 37
SOLM0132 795845 8192955 <2.5 5 <5 <25 <5 <25 44
SOLM0133 795849 8193005 <2.5 5 <5 <25 <5 <25 40
SOLM0134 795848 8193058 <2.5 5 <5 <25 <5 <25 30
SOLM0135 795847 8193106 <2.5 5 <5 <25 <5 <25 52
SOLM0136 795845 8193605 <2.5 17 <5 <25 <5 <25 16

Appendix 1 - Table 2: Canabrava Rock Chip Sampling Assays

Sample ID Easting (UTM 23S) Northing (UTM 23S) Be (ppm) Li (ppm) Nb (ppm) Sn (ppm) Ta (ppm) W (ppm) Y (ppm)
VLM072 794984 8192062 <5 <10 <10 <5 <10 <100 1.05
VLM076 794576 8192239 13 36 <10 11 <10 <100 5.61
VLM082 794643 8192589 8 44 12 23 <10 <100 2.99
VLM095 795578 8192772 7 15 <10 7 <10 <100 2.41
VLM107 795258 8193586 8 33 <10 <5 <10 <100 4.9
VLM120 795101 8192773 7 11 <10 <5 <10 <100 11.35
VLM122 794653 8192722 10 50 <10 <5 <10 <100 1.27
VLM124 794648 8192798 31 28 <10 <5 <10 <100 1.04
VLM081 794627 8192555 218 <10 84 43 88 <100 20.79
VLM078 794708 8192432 227 <10 122 15 57 <100 2.96
VLM131 795102 8192926 <5 15 <10 <5 <10 <100 0.97

==> picture [842 x 53] intentionally omitted <==

Appendix 2 - Table 1: Reporting Visual Estimates of Mineralisation

Project Sample ID Geology/Comments
Canabrava
(Formerly
Sidrônio)		 - No lithium mineralisation is reported within samples taken from the Canabrava project. At this early stage of exploration all samples represent exploration
stage sampling to understand the background geochemistry of reported pegmatites.

Appendix 2 - Table 2: All Pegmatite Field Descriptions Within Canabrava Project

Sample
ID		 Easting
(UTM 23S)		 Northing
(UTM 23S)		 Lithology Campaign Primary
Minerals
(Major >30%)		 Secondary
Minerals
(Minor >5%
and <30%)		 Accessory
Minerals
(Trace
<5%)		 Boulder/In-
Situ		 Comments
BLR151 801157 8189202 Pegmatite
- Granitic		 2023 Feldspar, Quartz Outcrop Valley. Pegmatitic domain with xenoliths of schist. Sn 344/66 (?)
BLR152 802490 8189093 Pegmatite
- Granitic		 2023 Feldspar, Quartz Biotite Outcrop Pegmatitic granite. Xenoliths of schist (biotitic mass).
GB956 801173 8189207 Pegmatite 2023 Feldspar, Quartz Tourmaline Outcrop Pegmatoidal granite with black tourmaline, albite, quartz. It
seems to be a pegmatite into schist foliation. 020/35
GB957 801142 8189167 Pegmatite 2023 Feldspar, Quartz Muscovite Tourmaline Outcrop Pegmatite. Diffuse contacts with schist. Feldspar, qtz, muscovite.
Turmaline content is lower. Peg 345/40
GB959 801121 8188941 Pegmatite 2023 Feldspar, Quartz Tourmaline Outcrop Pegmatite ( 1m to 1.5 wide ) with alb, qtz, KF musc, tourmaline.
Pegmatite is boudinaged. Peg 355/30
GB960 801141 8188897 Pegmatite 2023 Feldspar, Quartz Muscovite,
Tourmaline		 Outcrop Pegmatite, 1.5 to 2m wide. Within foliation. Ab, qtz, musc,
tourmaline. Peg 345/30
GB961 801216 8188899 Pegmatite 2023 Feldspar, Quartz Muscovite,
Tourmaline		 Outcrop Pegmatite continuity from gb960. Diffuse contacts.
GB966 802039 8189069 Pegmatite
- Granitic		 2023 Feldspar, Quartz Tourmaline Muscovite Outcrop Pegmatoidal granite or granitic pegmatite. Large outcrop, >20m.
Intrusion? Or big pegmatite? Tourmaline+ab+qtz+muscovite.
GB967 802513 8189071 Pegmatite 2023 Feldspar, Quartz Outcrop Sample from BLR153 point.
GB974 794757 8192353 Pegmatite 2023 Feldspar, Quartz Muscovite Schorlite Float Float blocks of pegmatite with ab,qtz, muscovite and scholite.
Borders are fine grained
GB976 794817 8192401 Pegmatite 2023 Feldspar, Quartz Muscovite Float Pegmatite blocks chip. Blocks do not present visible schorlite,
when it does it occur in small quantity. Ab+ qrz rich, + muscovite,
Kf.
GB977 794881 8192319 Pegmatite 2023 Feldspar, Quartz Muscovite Outcrop 0.5m wide low dipping pegmatite. Ab,qtz,musc pegmatite. Peg
100/02

==> picture [842 x 53] intentionally omitted <==

GB978 794881 8192335 Pegmatite 2023 Feldspar, Quartz Outcrop Pegmatite hanging wall, outcroping as a 'floor'. Peg 015/10
GB979 794916 8192298 Pegmatite 2023 Feldspar, Quartz Muscovite Schorlite Outcrop Floor Outcrop at pegmatite HW. Schorlite, Ab, qtz, musc.
GB1003 799291 8190896 Pegmatite 2023 Feldspar,
Muscovite		 Quartz Tourmaline Subcrop Pegmatite subcrop. Narrow, n30w strike. Feldspar + mica + qtz +
turmaline.
GB1016 795245 8192848 Pegmatite 2023 Feldspar, Quartz Muscovite Float Float small blocks of pegmatite. Green mica, feldspar, qtz.
Sampled
GB1017 795159 8192841 Pegmatite 2023 Feldspar, Quartz Muscovite Schorlite Float Pegmatite floats with schorlite (<5%) present. Green mica,
feldspar, qtz. Fine to cowrse grained.
GB1020 795023 8192669 Pegmatite 2023 Feldspar, Quartz Schorlite Float Presence of schorlite bearing pegmatite floats. Medium sized
blocks.
GB1023 794947 8192565 Pegmatite 2023 Feldspar, Quartz Schorlite Float Pegamatite float, schorlite is rarier in this blocks.
GB1027 795282 8192454 Pegmatite 2023 Feldspar, Quartz Schorlite Float Pegmatite floats. Big blocks. Schorlite bearing -peg, fine to
coarsegrain.
GB1030 796574 8192297 Pegmatite 2023 Feldspar,
Muscovite		 Schorlite,
Quartz		 Subcrop Tonhao area, presence of pegmatite blocks. Muscovite, feldspar,
schorlite, qtz.
VLM072 794984 8192062 Pegmatite 2024 Feldspar, Quartz Muscovite Tourmaline Float Float gpe with muscovite light green and tourmaline
VLM076 794576 8192239 Pegmatite 2024 Feldspar, Quartz Tourmaline Float Float pegmatite with tourmaline
VLM078 794703 8192433 Pegmatite 2024 Feldspar, Quartz Muscovite Schorlite Float Block rolled quartz, ab+ muscovite +schorlite Zoned fine borders
VLM080 794614 8192526 Pegmatite 2024 Feldspar, Quartz Schorlite Float? Outcrop pegmatite, No Spod, schorlite 245/60
VLM081 794622 8192558 Pegmatite 2024 Feldspar, Quartz Schorlite Outcrop Outcrop pegmatite, No Spod, schorlite 245/60
VLM082 794643 8192589 Pegmatite 2024 Feldspar, Quartz Tourmaline Float Float peg with tourmaline
VLM084 794754 8192463 Pegmatite 2024 Feldspar, Quartz Float Block pegmatite Zoned borders fine grained
VLM095 795578 8192772 Pegmatite 2024 Feldspar, Quartz Tourmaline Float Float pegmatite with tourmaline and quartz
VLM107 795258 8193586 Pegmatite 2024 Feldspar, Quartz Tourmaline Float Bloco rolled pegmatite with tourmaline
VLM120 795101 8192773 Pegmatite 2024 Feldspar, Quartz,
Tourmaline		 Float Float pegmatite rich tourmaline
VLM121 794688 8192642 Pegmatite 2024 Feldspar, Quartz Schorlite Float Float pegmatite schorlite
VLM122 794653 8192722 Pegmatite 2024 Feldspar, Quartz Tourmaline Subcrop Subcrop pegmatite with tourmaline in drainage
VLM124 794648 8192798 Pegmatite 2024 Feldspar, Quartz Muscovite Float Float pegmatite
VLM125 794651 8192858 Pegmatite 2024 Feldspar, Quartz Float Pegmatite granitic
VLM130 795074 8192954 Pegmatite
- Granitic		 2024 Feldspar, Quartz Tourmaline Float Block rolled quartz and schist some float pegmatite with
tourmaline
VLM131 795102 8192926 Pegmatite 2024 Feldspar, Quartz Muscovite Tourmaline Float Float pegmatite with mica Green and tourmaline

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