MINREX RESOURCES LIMITED — M&A Activity 2023

Jul 2, 2023

3[rd] July 2023

Tambourah Completes Acquisition of Pilbara Projects

Highlights

• Tambourah Metals Ltd has expanded its lithium explora:on por;olio.

• TMB has completed a binding sale agreement of shares and cash to acquire 100% of six lithium explora:on projects.

Tambourah Metals Ltd (TMB) is pleased to announce it has expanded their Lithium explora:on por;olio in the Pilbara with the purchase of 337 Km[2] of granted explora:on licences from Minrex Resources Ltd (MRR). TMB will obtain 100% of the six MRR Projects. Several projects adjoin the current TMB Pilbara project por;olio including the Tambourah Nth and the Haystack Well Project (Appendix 1).

Tantalum mineralisa:on with rock chip assay results of:

• 2.56% Li2O, 105 ppm Cs, 80 ppm Ta, 40 ppm Nb, 100 ppm Sn, 1,293 ppm Rb.

• 1.91% Li2O, 518 ppm Cs, 370 ppm Ta, 150 ppm Nb, 2,542 ppm Rb

The Shaw River project recorded historic samples of up to 42.2 % Tin and 3.41 % Tantalum, which is evidence of a possible highly frac:onated L-C-T pegma:te system. Anomalous REE (Rare Earth Element) samples were reported to contain assay grades of up to 1.42% Y`rium.

The Haystack Well project adjoins TMB’s Russian Jack project to the southwest. The project contains indicators of localised L-C-T pegma:tes and extensive stacked pegma:te swarms over a 650m wide area which contain Tantalum, Beryl, Corundum and Kunzite (Lithium oxide). There are historic records of Lithium anomalies in soil samples up to 589ppm Li within an area of 1.5km length situated within the pegma::c halo surrounding the granite. The anomaly is open in all direc:ons and is located within the 10 km “Goldilocks Zone” from the presumed granite source. The soil anomalies equate to ~2.9km of contact strike-length, with the remaining ~20km of granite aureole zone to be adequately sampled.

pegma:te swarms at all projects.

Board Members Rita Brooks Executive Chairperson E: admin@tambourahmetals.com.au Peter Batten Non-Executive Director W: tambourahmetals.com.au Chris Ramsay Non-Executive Director

Registered Address Tambourah Metals Limited ACN: 646 651 612 U2, Lvl 2, 10 Ord St, West Perth WA 6005 T: +61 8 9481 8669

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Rita Brooks - Execu:ve Chairperson commented:

Lithium projects in scale and quality with the addi?on of the new explora?on projects. Company explora?on geologists are working in the field and will now include the new MRR LCT pegma?te projects in planning of the next drill program. TMB now has a dominant land posi?on in the Pilbara which hosts two Tier 1 opera?ng Lithium mines. We look forward to keeping our shareholders and investors informed as we receive results from the field programs.”

The Company plans to accelerate the Lithium exploration at Tambourah North, Coondina and Shaw River. TMB has recently completed an EM survey and ground mapping at the Tambourah Goldfield and is now onsite at Shaw River to confirm drill targets. It will incorporate this work into their proposed RC drill program at the Tambourah Goldfield.

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Figure 1: Tambourah Metals Tenement and New Acquisi;ons

U2, Lvl 2/10 Ord St, West Perth WA 6005

Tambourah Metals Limited ASX: TMB | T +61 8 9481 8669

tambourahmetals.com.au admin@tambourahmetals.com.au

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Figure 2: Haystack Well Geochemical Anomalies

Consideration

In considera:on for the acquisi:on Tambourah agrees to:

• (a) pay Minrex $50,000 (plus GST) cash, in accordance with the :metable set out in Appendix 2; and

• (b) issue MinRex $100,000 worth of fully paid ordinary shares in Tambourah (Tambourah Shares) at an issue price equal to the 5-day volume weighted average price of Tambourah Shares over the 5 trading days prior to the date Tambourah announces the Acquisi:on.

• (c) The shares will be subject to a voluntary 3-month escrow.

Shares issued will be from the allocated capacity and does not require shareholder approval.

U2, Lvl 2/10 Ord St, West Perth WA 6005

Tambourah Metals Limited ASX: TMB | T +61 8 9481 8669

tambourahmetals.com.au admin@tambourahmetals.com.au

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Authorised on behalf of the Board of Tambourah Metals Ltd.

Rita Brooks

Executive Chairperson

• E: admin@tambourahmetals.com.au

P: + 61 8 9481 8669

3[rd] July 2023

About Tambourah Metals Ltd

Tambourah Metals Ltd (ASX: TMB) is a Western Australian focused exploration company, with the primary objective of the rapid exploration and development of critical minerals and gold projects. TMB has three Lithium Projects in the Pilbara Region – Russian Jack, Tambourah Lithium and Nullagine Lithium; three gold projects in the Pilbara Region – Tambourah, Cheela and Nullagine; Ni-PGE-Cu-Au projects at Julimar North. In the NE Goldfields exploration for Ni-PGE-Cu and REE at Achilles Project including REE at Adam Range.

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Figure 3 Tambourah Metals Projects - Loca;on Map

U2, Lvl 2/10 Ord St, West Perth WA 6005

Tambourah Metals Limited ASX: TMB | T +61 8 9481 8669

tambourahmetals.com.au admin@tambourahmetals.com.au

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Competent Persons Statement (Appendix 3)

The informa:on in this report that relates to Explora:on Targets and Explora:on Results is based on informa:on compiled by Ian Shackleton. Mr. Shackleton is the Technical Director of MinRex Resources Limited and is a Member of the AIG whom have sufficient experience relevant to the styles of mineralisa:on under considera:on and to the ac:vity being reported to qualify as a Competent Person as defined in the 2012 Edi:on of the Australasian Code for Repor:ng of Explora:on Results, Mineral Resources and Ore Reserves. Mr. Ian Shackleton has verified the data disclosed in this release and consent to the inclusion in this release of the ma`ers based on the informa:on in the form and context in which it appears.

Competent Persons Statement (Appendix 4,5)

The informa:on in this report that relates to Explora:on Targets and Explora:on Results is based on informa:on compiled by Pedro Kastellorizos. Mr. Kastellorizos is the Chief Execu:ve Officer of MinRex Resources Limited and is a Member of the AusIMM whom have sufficient experience relevant to the styles of mineralisa:on under considera:on and to the ac:vity being reported to qualify as a Competent Person as defined in the 2012 Edi:on of the Australasian Code for Repor:ng of Explora:on Results, Mineral Resources and Ore Reserves. Mr. Kastellorizos have verified the data disclosed in this release and consent to the inclusion in this release of the ma`ers based on the informa:on in the form and context in which it appears.

Forward Looking Statements

• Certain statements in this document are or may be “forward looking statements” and represent Tambourah’s inten<ons, projec<ons, expecta<ons, or beliefs concerning among other things, future - explora<on ac<vi<es. The projec<ons, es<mates and beliefs contained in such forward looking statements don’t necessarily involve known and unknown risks, uncertain<es, and other factors, many of which are beyond the control of Tambourah, and which may cause Tambourah’s actual performance in future periods to differ materially from any express or implied es<mates or projec<ons.

Nothing in this document is a promise or representa<on as to the future. Statements or assump<ons in this document as to future maEers may prove to be incorrect and differences may be material. Tambourah does not make any representa<on or warranty as to the accuracy of such statements or assump<ons.

U2, Lvl 2/10 Ord St, West Perth WA 6005

Tambourah Metals Limited ASX: TMB | T +61 8 9481 8669

tambourahmetals.com.au admin@tambourahmetals.com.au

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Appendix 1

Tenement	Rent	Expenditure	Purchase	Tenement Status	Holder	Grant Date
E 4504266	$4,266.00	$70,000.00	All mineral rights	LIVE	MINREX RESOURCES LIMITED	14/07/2014
E 4504275	$4,977.00	$70,000.00	All mineral rights	LIVE	MINREX RESOURCES LIMITED	21/07/2014
E 4504601	$11,376.00	$50,000.00	All mineral rights	LIVE	MINREX RESOURCES LIMITED	30/12/2016
E 4504953	$1,504.00	$30,000.00	All mineral rights	LIVE	MINREX RESOURCES LIMITED	18/04/2018
E 4505851	$6,426.00	$42,000.00	All mineral rights	LIVE	ODETTE FIVE PTY LTD	18/08/2021
E 4601380	$5,202.00	$34,000.00	All mineral rights	LIVE	ODETTE FIVE PTY LTD	17/08/2021

Appendix 2

Payment trigger	Payment amount	Comments
Purchase price $50,000
Issue of $100,000 worth of fully paid ordinary shares in Tambourah		At an issue price equal to the volume weighted average price of Tambourah Shares over the 5 trading days prior to the date Tambourah announces the AcquisiCon.
Upon execuCon of this Ofer LeJer	$5,000	Non-refundable cash payment.
~ + 30 days	$20,000	Upon execuCon of the Formal Agreement.
~ + 90 days	$25,000	Upon completion of the Acquisition.
TOTAL	$50,000

U2, Lvl 2/10 Ord St, West Perth WA 6005

Tambourah Metals Limited ASX: TMB | T +61 8 9481 8669

tambourahmetals.com.au admin@tambourahmetals.com.au

Appendix 3 (A): Total Rock Chip Assay Results

		Easting	Northing	Zone
Project	Sample No	(GDA94)	(GDA94)	(GDA)	Li	Li20	SiO2	Fe2O3	Ta	Nb	Sn	P2O5	SO3	CaO	K2O	BaO	TiO2	Al2O3	LOI1000	Rb	Cs
					ICP004		XRF102	XRF102				XRF102	XRF102	XRF102	XRF102	XRF102	XRF102	XRF102	TGA002	ICP004	ICP004
					ppm	%	%	%	(ppm)	(ppm)	(ppm)	%	%	%	%	%	%	%	%	**ppm **	**ppm **
Tambourah North Tambourah North Tambourah North	MR006 MR007 MR008	725794 725779 726167	7599139 7599166 7598805	50 50 50	130 40		73.97 67.94 73.6	0.94 0.63 1.04	30 10 40	50 20 20	20 10 30	0.01 0.01 0.03	0.004 0.002 0.002	0.22 0.17 0.5	4.526 11.42 5.873	0.022 0.02 0.032	0.016 0.018 0.03	14.5 16.8 14.23	0.53 0.28 0.98		27 60
																				1000
																				3248
					1360	0.29														1824	116
Shaw River	MR009	754481	7598575	50	30		81.31	1.45	30	<0.01	120	<0.01	0.001	0.22	2.245	0.009	0.15	10.38	0.25	463	15
Coondina	MR010	748498	7577696	50	40		63.11	0.71	<0.001	<0.001	290	<0.01	0.073	5.28	5.57	0.033	0.059	11.5	8.24	743	16 1
Coondina	MR011	746499	7575652	50	50		38.41	0.79	<0.001	<0.001	<0.001	10	0.044	17.1	0.23	0.017	0.155	6.91	25.72	8
Coondina South Coondina South	MR012 MR013	734802 743249	7553793 7555513	50 50	<10 20		70.56 74.79	0.9 0.74	<0.001 <0.001	<0.001 <0.001	<0.001 <0.001	0.04 <0.01	0.007 0.001	2.72 0.37	6.142 5.909	0.045 0.009	0.024 0.011	13.92 13.89	2.21 0.29	304 355	9 13
Haystack	MR014	199836	7542465	51	330		58.74	1.45		<0.001	30	0.01	0.012	3.64	3.139	0.206	0.045	22.67	1.47	270	39
Tambourah North	MRR028	725857	7599227	50			74.54	0.87		<0.001		0.07	<0.001	0.18	1.362	<0.001	0.007	16.64	0.3
					11910	2.56			80		100									1293	105
Haystack Well	MRR029	196312	7541394	51	90		72.65	0.91	30	<0.001	20	0.06	0.003	0.14	6.113	0.003	0.017	15.32	0.65	1257	45
Haystack Well	MRR030	199848	7542488	51	150		69.87	0.49	40	<0.001	20	0.05	0.002	0.14	7.845	0.004	0.01	16.54	0.28	2355	597
Haystack Well	MRR031	199853	7542434	51	20		77.47	1.98	<0.001	<0.001	20	<0.01	0.018	0.05	0.028	0.027	0.044	2.03	4.15	10	14
Shaw River	MRR032	757590	7599712	50	30		76.59	0.64	<0.001	<0.001	<0.001	<0.01	0.002	0.09	8.008	0.058	0.02	12.37	0.25	710	35 28 46 15 9 16
Shaw River	MRR033	757667	7599850	50	60		75.16	1.59	<0.001	<0.001	30	0.03	0.005	0.63	3.478	0.059	0.124	13.64	0.77	550
Shaw River Shaw River Shaw River Shaw River	MRR034 MRR035 MRR036 MRR037	757667 755601 755604 749910	7599832 7601879 7601883 7603165	50 50 50 50	120 <10 10 20		46.29 77.62 77.06 73.78	19.14 1.13 0.91 1.62	<0.001 20 20 <0.001	<0.001 50 <0.001 <0.001	30 20 30 10	0.39 <0.01 <0.01 <0.01	0.024 0.005 0.005 0.004	5.52 0.44 0.36 0.23	0.835 3.323 2.813 7.362	0.031 0.01 <0.001 0.032	2.265 0.028 0.022 0.041	13.49 12.34 12.56 13.62	4.24 0.31 0.27 0.54	205
																				437
																				461
																				668
Tambourah North Tambourah North Tambourah North	MRR038 MRR039 MRR040	725981 725848 725823	7596918 7597433 7597113	50 50 50	120 50		80.98 76.97 65.71	0.99 0.82 0.3	10 <0.001 370	<0.001 <0.001 150	40 <0.001 10	<0.01 <0.01 0.01	<0.001 <0.001 <0.001	0.18 0.29 0.05	2.111 6.151 7.225	0.017 0.007 0.006	0.045 0.018 0.03	11.78 12.29 20.52	1.14 0.29 2.46	271	9 48
																				546
					8850	1.91														2542	518
Coondina	MRR041	746359	757162	50	160		73.88	2.42	<0.001	20	70	0.03	0.014	0.95	3.599	0.017	0.07	13.69	4.47	635	25 16
Coondina	MRR042	746372	7577190	50	250		75.51	2.06	<0.001	70	140	0.03	<0.001	0.25	2.489	0.009	0.023	14.77	4.38	549
Coondina South Coondina South	MRR043 MRR044	734665 734808	7553859 7553791	50 50	10 <10		72.87 74.23	0.62 0.93	<0.001 <0.001	<0.001 <0.001	<0.001 10	0.02 0.04	<0.001 <0.001	0.67 0.34	8.273 6.506	0.126 0.069	0.019 0.02	14.18 14.1	0.52 0.39	424 294	12 11 18
Coondina South	MRR045	753341	7551073	50	<10		73.85	0.47	<0.001	<0.001	<0.001	<0.01	<0.001	0.08	9.279	0.008	0.009	14	0.07	498

Appendix 3 (B) – JORC Code, 2012 Edition Table 1 report Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections)

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.	27 Rock Chip samples collected varied in weight from 1kg up to 3 kg with sampling selected based on visual mineralisation or host rock potential within the indicative target mineralogy. All samples will be submitted to Nagrom Labs Pty Ltd in Perth using standard industry assay methods for pegmatite analysis. All sample information, including lithological descriptions and GPS coordinates were recorded during the sample location. Individual samples were bagged in calcio bags and sent to Nagrom, Perth for aqua regia XRF102 and ICP_MS.
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 was undertaken
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 was undertaken
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.	No drilling was undertaken. The Project areas is currently classified as early stage of exploration and no Mineral Resource estimation is appliable Some sample photos have been included along with outcropping pegmatites.

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 rock chip samples were collected from outcrop in the field.
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.	Nagrom used internal 2 duplicates, 4 repeats and 4 standards as part of the quality control. The entire samples were dried, crushed and pulverised to 85% passing <75 um. The rocks were analysed for the full suite of elements including XRF102 (%) SiO2, Fe2O3, SO3, CaO, K2O, BaO, TiO2, with Li, Ta, Nb, Sn, Pb and Cs completed ICPMS (ICP004 method). Acceptable levels of accuracy from these rock chips have been established.
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 verification of significant intersections has been reviewed by independent consultant from Odessa Resources Pty Ltd No adjustment to assay data
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.	All rock chip locations were recorded with a handheld GPS with +/- 5m accuracy GDA94, Zone 50 and 51 was used
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.	Data spacing and distribution was dependant on the identification of pegmatite dykes. The locations of the samples are provided in Appendix 1. There is insufficient data to determine any economic parameters or mineral resources.
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.	Unknown as not drilled

	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.
Sample security	The measures taken to ensure sample security.	all the samples from the fieldwere delivereddirectly to Nagrom Labs for analysis.
Audits or reviews	The results of any audits or reviews of sampling techniques and data.	No audits or reviews have been undertaken

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 licence to operate in the area.	All Project areas are 100% held byTambourah MetalsLtd. Heritage agreements will be executed with the Native Title party during the course of the year.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	Very little lithium exploration has been undertaken over these project areas. No ground geophysics and very little geological mapping has been historically completed.
Geology	Deposit type, geological setting, and style of mineralisation.	The deposit types been explored includes the Archer Lithium Deposit which includes LCT Pegmatites.
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 holelength. 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 drilling undertaken
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 shouldbe shown in detail. The assumptions used for any reporting of metal equivalent values should be clearly stated.	No high-grade cuts have been applied or any aggregation methods have been applied No usage of metal equivalent has been used

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’). _	Samples are rock chips taken from surface and are not representative of the entire thickness of the pegmatite units
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.	All maps have been inserted within the announcement.
Balancedreporting	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.	All assays relating to this announcement have been included in the table within the report.
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 material information has been included in the report.
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.	Refer to the main body of announcement

Appendix 4 (A)

Table 1 - Total Stream Sediment/Heavy Stream Sediment Assay Results

Sample Easting GDA94 Northing GDA94 Sample Type	Sn Ta Nb Y	Sn Ta Nb Y	Sn Ta Nb Y	Sn Ta Nb Y			Ta	Sn Y	Sn Y	Vol Sn
					Cassiterite Tantalum
Id Zone 50 Zone 50	ppm ppm ppm ppm				kg/m3 kg/m3		%	% ppm		%
H11 750513.8 7597120.7 Stream Sediment	244 12 34 10.7
H21 753221.4 7598799.6 Stream Sediment	2213	84 33 63.2
H22 754540.5 7599467.3 Stream Sediment	3.99%	1816	594 350
H23 754031.3 7599819.7 Stream Sediment	1.45%	2866	1481	1500
H25 749871.5 7601331.1 Stream Sediment	32 25 -10 14.9
HS71 756706.8 7601676.3 Heavy Stream Sediment					1.67	0.182	0.98	26.1	1.44%
HS72 756727.8 7601062.0 Heavy Stream Sediment					0.9	0.046	0.75	42.2	2200	41.3
HS73 756727.5 7600941.4 Heavy Stream Sediment					0.65 0.510		1.07	40	5100	39.8
HS74 756737.9 7600590.3 Heavy Stream Sediment					0.74 0.030		0.51	36.5	2700
HS75 757354.1 7600128.9 Heavy Stream Sediment					0.68 0.023		0.43	35.7	1900
HS76 757606.9 7599766.7 Heavy Stream Sediment					6.34	2.332	3.41	26.9	1.62%
HS77 757902.6 7598790.1 Heavy Stream Sediment					0.3 0.033		1.18	30.5	9600

Appendix 4 (B) – JORC Code, 2012 Edition Table 1 report

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections)

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.	• Rock Chip Samples: 5 • Stream Sediment Samples: 7 • Heavy Stream Sediment Samples: 7 • Tailing Samples: 6 • Rock Chip Samples were taken from random point based on outcropping pegmatites or based on drainage system and creek. • Bulk Heavy Stream Sediment sampled were taken at 18 kg per sample weight, then passed through sluice to produce a concentrate for assaying • Rock Chip weight approx. 3 kilograms. • Tailing samples were taken at random point within the historic gold tailing dam near the old shaft area • In 1994, Heavy Bulk Stream Sediment samples were assayed by Australian Assay Laboratories (Balcatta) for Sn, Ta, Y, Nb and W were assayed by partial digest ICP-OES • In 2013, Labwest Minerals Analysis Pty Ltd completed the rock chip samples over E45/4953. • In 2019, Intertek Genalysis Labs (Perth) completed all Abeh Pty Ltd rock chip samples • Gold was analysed by AAS method. • Elements Be, Cs, Li, Nb, Rb, Ta, Sn, Th, Ta, U and W were analysed bymethod ICP_OES: Major Oxides and multi-element

	Criteria	JORC Code explanation		Commentary
					short suite by ICPOES/ICPMS and through sodium peroxide fusion
					and Hydrochloric acid to dissolve the melt. Analysed by ICP
					(Atomic) Emission Spectrometry.
				•	Elements Cu, Pb, Fe, Mg, Mn, Ni, V and Zn were analysed by
					method ICP OES: using a similar multi-acid digest but analysed by
					Inductively Coupled
	Drilling	•	Drill type (eg core, reverse circulation, open-hole hammer, rotary air	•	No Drilling was undertaken.
	techniques		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).
	Drill sample	•	Method of recording and assessing core and chip sample	•	No Drilling was undertaken.
	recovery		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.
	Logging	•	Whether core and chip samples have been geologically and	•	No Drilling was undertaken.
			geotechnically logged to a level of detail to support appropriate	•	Chips have been geologically logged.
			Mineral Resource estimation, mining studies and metallurgical	•	The Project areas is currently classified as early stage of exploration
			studies.		and no Mineral Resource estimation is appliable.
		•	Whether logging is qualitative or quantitative in nature. Core (or
			costean, channel, etc) photography.
		•	The total length and percentage of the relevant intersections logged.
	Sub-	•	If core, whether cut or sawn and whether quarter, half or all core	•	Elements Be, Cs, Li, Nb, Rb, Ta, Sn, Th, Ta, U and W were
	sampling		taken.		analysed by method ICP_OES: Major Oxides and multi-element

	Criteria	JORC Code explanation		Commentary
	techniques	•	If non-core, whether riffled, tube sampled, rotary split, etc and		short suite by ICPOES/ICPMS and through sodium peroxide fusion
	and sample		whether sampled wet or dry.		and Hydrochloric acid to dissolve the melt. Analysed by ICP
	preparation	•	For all sample types, the nature, quality and appropriateness of the		(Atomic) Emission Spectrometry.
			sample preparation technique.
		•	Quality control procedures adopted for all sub-sampling stages to	•	Elements Cu, Pb, Fe, Mg, Mn, Ni, V and Zn were analysed by
			maximise representivity of samples.		method ICP OES: using a similar multi-acid digest but analysed by
		•	Measures taken to ensure that the sampling is representative of the		Inductively Coupled
			in situ material collected, including for instance results for field
			duplicate/second-half sampling.	•	All surface sampling collected are appropriate reconnaissance
		•	Whether sample sizes are appropriate to the grain size of the material being sampled.		exploration techniques and are not to be considered as constituting a mineral deposit discovery. Stream sediment sampling collects a sample that is representative of the catchment of the stream.
					transported cover were not observed.
	Quality of	•	The nature, quality and appropriateness of the assaying and	•	All assay information has been digitized form historic open file
	assay data		laboratory procedures used and whether the technique is		reports.
	and laboratory tests	•	considered partial or total. For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including	•	There are no records regarding the use of standards or blanks and data relating to these (if carried out) have been recorded over the Heavy Stream Sediment Sampling Program (Report A40371),
			instrument make and model, reading times, calibrations factors		Tailing and Rock Chip sampling (Report A5848).
			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.	•	Abeh Pty Ltd exploration work included the analyses for Elements Be, Cs, Li, Nb, Rb, Ta, Sn, Th, Ta, U and W were analysed by method ICP_OES: Major Oxides and multi-element short suite by ICPOES/ICPMS and through sodium peroxide fusion and
					Hydrochloric acid to dissolve the melt. Analysed by ICP (Atomic)
					Emission Spectrometry. 2 checks ,5 standards and 2 blanks were
					used.
				•	No geophysical tools were used

	Criteria	JORC Code explanation		Commentary
	Verification	•	The verification of significant intersections by either independent or	•	All surface sampling were reviewed by previous company geologist
	of sampling		alternative company personnel.		and current MinRex geologist
	and assaying	•	The use of twinned holes.	•	Significant intercepts were verified by geologists.
		•	Documentation of primary data, data entry procedures, data
			verification, data storage (physical and electronic) protocols.	•	No twinned holes were used.
		•	Discuss any adjustment to assay data.	•	The verification of significant intersections has been reviewed by
					independent consultant from Odessa Resources Pty Ltd
					No adjustment to assay data
	Location of	•	Accuracy and quality of surveys used to locate drill holes (collar and	•	Recorded as Handheld GPS with accuracy of 5m. All data points in
	data points		down-hole surveys), trenches, mine workings and other locations		GDA94 MGAZ50
			used in Mineral Resource estimation.
		•	Specification of the grid system used.
		•	Quality and adequacy of topographic control.
	Data spacing	•	Data spacing for reporting of Exploration Results.	•	The data spacing and distribution are considered sufficient for the
	and distribution	•	Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the	•	current level of exploration. Samples were not composited in the sampling phase.
			Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied.	•	See maps for sample distribution.
		•	Whether sample compositing has been applied.	•	Data distribution was on an outcrop basis so is random in nature.
				•	No sample compositing has been applied.
	Orientation	•	Whether the orientation of sampling achieves unbiased sampling of	•	No geological structure taken into consideration.
	of data in		possible structures and the extent to which this is known,
	relation to		considering the deposit type.
	geological structure	•	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.

Criteria	JORC Code explanation	Commentary
Sample security	• The measures taken to ensure sample security.	• Not documented.
Audits or reviews	• The results of any audits or reviews of sampling techniques and data.	• There have been no documented previous audits of sampling techniques and data.

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 licence to operate in the area.	As reported in Appendix 1 and the body of this report. All granted tenements are in good standing.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	Open File Western Australia Report No. A104112Earlier exploration activities at Tambourah have been unable to identify significant gold and base metal mineralisation, however, evidence of outcropping lithium mineralisation was identified. Ongoing exploration will need to employ a combination of geological, geochemical and geophysical studies to aid in the identification of deep or buried orebodies. Open File Western Australia Report No. A22310 and A24569he pegmatites are quartz-Kfeldspar- rich, with albite, muscovite or biotite, and accessory spessartine, cassiterite, zinnwaldite, lepidolite, fluorite, tantalite, green muscovite and magnetite. They are the source for widespread alluvial and eluvial cassiterite-tantalite concentrations. A major feature of the area is the post-granitoid Black Range dolerite dyke which forms a razor-backed NNE- trending ridge which has controlled creek development, especially in the Hillside area. The surficial deposits are developed in an area of flat to

			undulating relief with broad shallow drainage systems. Ridges and divides
			may typically have 0.5m thickness of colluvium and eluvium. Most past
			production in the area, however, has come from alluvium, both from small
			shallow creeks and major, deeply incised braided streams. Potential also
			exists for alluvial deposits in perched palaeochannels and terraces.
			Open File Western Australia Report No. A24569Swarms of pegmatites with
			individual widths usually less than 10 cm wide but ranging up to 3 m wide
			consitute up to 5% of the total batholith. Pegmatite veins cut across the
			banding of the gneissic granite host.
			Conclusions: The project has a life of 4 years at a treatment rate of 660,000
			tonnes per annum based on proven mineable ore reserves. Economic
			feasibility is assessed by producing approximately 300 metric tonnes of tin
			metal and 40,000 lbs of Ta,0, contained in mixed cassiterite/tantalite
			concentrates
			Open File Western Australia Report No. A15930A major feature of the area
			is the post-granitoid Black Range dolerite dyke which forms a razor-backed
			NNE-trending ridge which has controlled creek development, especially in the
			Hillside area. The surficial deposits are developed in an area of flat to
			undulating relief with broad shallow drainage systems. Ridges and divides
			may typically have 0.5m thickness of colluvium and eluvium. Most past
			production in the area, however, has come from alluvium, both from small
			shallow creeks and major, deeply incised braided streams. Potential also
			exists for alluvial deposits in perched palaeochannels and terraces.
			Exploration and reserve estimation has been by systematic pitting, channel
			sampling, visual ranking and analysis. Traverses, however, are widespread,
			and infill sampling would be required prior to or during any future mining
			operation
			Open File Western Australia Report No. A5848Magnifique gold exploration A
			Numbers in Group: 5294, 5848, 5867, 6394 Examination of an auriferous
			quartz vein hosted bysheared Archaean rocks concluded "Despite the

			presence of encouraging amounts of gold...in quartz samples from the pre-
			crusher dump
			Open File Western Australia Report No. A99843: The Tambourah area is host
			to small hard rock gold deposits hosted by quartz veins and shear deposits
			and derived alluvial accumulations. Field observations suggest these deposit
			styles do not demonstrate immediate potential for gold mineralisation on
			E45/2346. Current exploration focussed on rare metal mineralisation
			associated with pegmatite outcrops. Several rock chip samples of exposed
			lithium mineralisation were collected and evaluated for their rare metal
			content. Conclusions & Recommendations: Earlier exploration activities at
			Tambourah have been unable to identify significant gold and base metal
			mineralisation, however, evidence of outcropping lithium mineralisation was
			identified. Ongoing exploration will need to employ a combination of
			geological, geochemical and geophysical studies to aid in the identification of
			deep or buried orebodies
	Geology	Deposit type, geological setting and style of mineralisation.	Exploration is targeting lithium bearing pegmatites in the aureoles of
			granites. This part of the Pilbara contains multiple Archean granites intruding
			mafic volcanics and sediments. Pegmatites are emplaced from extrusion of
			the granites into the surrounding country rock. This work is looking for
			comparable targets to the Pilgangoora and Wodgina styles of mineralization.
	Drill hole	A summary of all information material to the understanding of the	No drilling was undertaken.
	Information	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
		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.
	Data	In reporting Exploration Results, weighting averaging techniques, maximum	No drilling was undertaken.
	aggregation	and/or minimum grade truncations (eg cutting of high grades) and cut-off
	methods	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.
	Relationship	These relationships are particularly important in the reporting of Exploration	No drilling was undertaken.
	between	Results.
	mineralisation widths and intercept	If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported.
	lengths	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’).
	Diagrams	Appropriate maps and sections (with scales) and tabulations of intercepts	As per the body of the report
		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.
	Balanced	Where comprehensive reporting of all Exploration Results is not practicable,	All results are presented in the Figures and Tables in the body of report.
	reporting	representative reporting of both low and high grades and/or widths should
		be practiced to avoid misleading reporting of Exploration Results.
	Other	Other exploration data, if meaningful and material, should be reported	There are no other results to report that are considered material.
	substantive	including (but not limited to): geological observations; geophysical survey
		results; geochemical survey results; bulk samples – size and method of

	exploration	treatment; metallurgical test results; bulk density, groundwater,
	data	geotechnical and rock characteristics; potential deleterious	or
		contaminating substances.
	Further work	The nature and scale of planned further work (eg tests for lateral extensions		Further surface reconnaissance & rock chip sampling is planned with future
		or depth extensions or large-scale step-out drilling).		drill targeting following this program.
		Diagrams clearly highlighting the areas of possible extensions, including	the
		main geological interpretations and future drilling areas, provided	this
		information is not commercially sensitive.

Appendix 5(A): Historic Results

All results presented here are compiled from the Western Australia Mineral Report Exploration Archive (WAMEX). These are to be considered of a historic nature, and whilst all care has been taken in their compilation, they are used for exploration purposes and are subject to further validation by the Company. All data and original reports are available under the recorded ‘A’ number on https://www.dmp.wa.gov.au/WAMEX-Minerals-Exploration1476.aspx

Soil Sample Results Reported by Balx Pty Ltd for the Haystack Well Project sorted by Li. Coordinates in MGA94 Zone 51. Only results >100ppm Li reported here, with all results shown on the figures above.

Sample ID	Easting	Northing	Be **ppm **	Cs **ppm **	Li **ppm **	Nb **ppm **	Sn **ppm **	Ta **ppm **	Year	**Comp. **	WAMEX File Number
MPS212571	194294	7540090	3	25.9	589	13	<2	4.4	2018	BALX	A117068
MPS212563	194196	7539637	2	15.53	544	15	2	1.4	2018	BALX	A117068
MPS212605	196276	7540879	2	23.44	338	<10	4	2	2018	BALX	A117068
MPS212570	194321	7540012	2	11	336	16	<2	3.9	2018	BALX	A117068
MPS212649	196600	7541840	1	15.1	307	14	2	1.4	2018	BALX	A117068
MPS212647	196757	7541520	1	8.2	291	11	<2	1.3	2018	BALX	A117068
MPS212639	196759	7540886	1	25.1	287	12	<2	1.4	2018	BALX	A117068
MPS212619	196279	7542003	2	7.95	277	16	4	2.7	2018	BALX	A117068
MPS212637	196441	7540802	2	9.37	271	14	3	1.6	2018	BALX	A117068
MPS212568	194415	7539884	1	11.33	270	15	2	1.5	2018	BALX	A117068
MPS212584	194535	7540263	2	21.02	254	13	<2	2.8	2018	BALX	A117068
MPS212601	194615	7540709	11	29.41	254	22	11	11.5	2018	BALX	A117068
MPS212621	196439	7541921	1	10.63	246	13	3	1.4	2018	BALX	A117068
MPS212648	196758	7541600	1	10.72	243	14	3	2.1	2018	BALX	A117068
MPS212567	194460	7539822	2	10.64	242	16	2	1.8	2018	BALX	A117068
MPS212655	196603	7541362	4	13.76	240	13	2	1.7	2018	BALX	A117068
MPS212552	193738	7540291	7	50.49	227	19	5	3.8	2018	BALX	A117068
MPS212620	196437	7541998	2	14.37	223	13	4	1.8	2018	BALX	A117068
MPS212606	196278	7540958	2	12.88	220	14	3	1.9	2018	BALX	A117068
MPS212653	196599	7541519	3	15.38	218	14	3	1.9	2018	BALX	A117068
MPS212663	196598	7540800	1	6.99	215	16	3	1.7	2018	BALX	A117068
MPS212645	196759	7541360	2	13.29	213	13	3	1.8	2018	BALX	A117068
MPS212652	196599	7541600	2	9.31	212	13	3	1.7	2018	BALX	A117068
MPS212646	196758	7541443	1	12.37	211	13	3	1.6	2018	BALX	A117068
MPS212636	196435	7540885	2	19.97	207	14	4	2.5	2018	BALX	A117068
MPS212650	196603	7541762	2	8.59	205	14	2	1.6	2018	BALX	A117068
MPS212627	196442	7541441	4	13.31	204	25	6	5	2018	BALX	A117068
MPS212638	196758	7540801	2	9.18	201	14	3	1.6	2018	BALX	A117068
MPS212604	196279	7540801	2	16.96	201	16	4	2.1	2018	BALX	A117068
MPS212586	194627	7540135	2	11.09	200	17	3	2.7	2018	BALX	A117068
MPS212559	194057	7539830	3	31.19	194	12	2	1.2	2018	BALX	A117068
MPS212569	194366	7539953	2	9.67	193	15	2	1.9	2018	BALX	A117068
MPS212579	194307	7540595	4	40.98	188	19	3	18.9	2018	BALX	A117068
MPS212797	199559	7541163	6	8.57	186	17	4	3	2018	BALX	A117068

MPS212629	196439	7541280	7	11.37	182	20	7	4.6	2018	BALX	A117068
MPS212603	194523	7540837	6	26.98	180	17	6	6.5	2018	BALX	A117068
MPS212592	194983	7540182	1	4.77	176	15	<2	1.7	2018	BALX	A117068
MPS212656	196601	7541278	3	15.14	175	16	4	2.7	2018	BALX	A117068
MPS212589	194760	7539938	1	4.62	166	12	<2	0.9	2018	BALX	A117068
MPS212600	194662	7540645	7	20.37	165	22	4	11.6	2018	BALX	A117068
Sample ID	Easting	Northing	Be **ppm **	Cs **ppm **	Li **ppm **	Nb **ppm **	Sn **ppm **	Ta **ppm **	Year	**Comp. **	WAMEX File Number
MPS212635	196433	7540961	4	26.47	162	15	3	2.4	2018	BALX	A117068
MPS212595	194844	7540383	1	13.77	161	11	3	1.6	2018	BALX	A117068
MPS212651	196602	7541679	1	9.39	160	15	3	1.7	2018	BALX	A117068
MPS212622	196436	7541842	2	12.01	159	15	3	1.8	2018	BALX	A117068
MPS212582	194444	7540396	5	35.28	157	20	4	23.3	2018	BALX	A117068
MPS212576	194043	7540406	5	32.41	156	18	4	9.3	2018	BALX	A117068
MPS212640	196760	7540962	1	14.62	155	11	2	1.4	2018	BALX	A117068
MPS212556	193920	7540030	4	17.43	154	16	4	2.7	2018	BALX	A117068
MPS212564	194246	7539569	1	13.39	152	14	3	1.2	2018	BALX	A117068
MPS212565	194502	7539754	2	6.94	152	18	3	2.7	2018	BALX	A117068
MPS212585	194586	7540200	1	10.33	151	17	4	2.9	2018	BALX	A117068
MPS212661	196600	7540949	7	28.77	147	24	7	7.8	2018	BALX	A117068
MPS212712	198598	7541480	7	11.86	146	20	5	8.7	2018	BALX	A117068
MPS212642	196757	7541121	7	25.87	146	36	9	8.9	2018	BALX	A117068
MPS212875	201159	7541719	1	2.58	145	<10	3	1.6	2018	BALX	A117068
MPS212641	196759	7541044	4	25.87	143	15	3	3	2018	BALX	A117068
MPS212654	196604	7541440	4	15.44	143	14	3	2.5	2018	BALX	A117068
MPS212796	199559	7541237	6	13.14	143	17	6	3.6	2018	BALX	A117068
MPS212710	198599	7541324	11	28.3	140	51	8	15.4	2018	BALX	A117068
MPS212557	193962	7539959	3	27.4	139	15	3	1.8	2018	BALX	A117068
MPS212575	194091	7540339	4	25.45	139	18	4	7.5	2018	BALX	A117068
MPS212849	200521	7542040	6	19.8	138	23	15	6.9	2018	BALX	A117068
MPS212623	196442	7541760	4	13.18	137	20	6	3.4	2018	BALX	A117068
MPS212596	194805	7540450	3	22.85	136	12	2	3.5	2018	BALX	A117068
MPS212580	194357	7540525	5	32.59	135	18	4	11.2	2018	BALX	A117068
MPS212773	199239	7542119	4	27.25	134	18	7	3.9	2018	BALX	A117068
MPS212657	196594	7541201	8	20.39	133	40	11	12.5	2018	BALX	A117068
MPS212745	198918	7541157	9	12.68	133	61	17	22.6	2018	BALX	A117068
MPS212598	194708	7540578	7	23.05	133	21	5	17.5	2018	BALX	A117068
MPS212705	198598	7540919	2	5.45	131	11	3	1.7	2018	BALX	A117068
MPS212597	194755	7540511	4	19.2	131	16	2	7.4	2018	BALX	A117068
MPS212581	194397	7540459	5	29.69	130	17	4	21.6	2018	BALX	A117068
MPS212644	196754	7541283	2	14.66	129	14	3	2.2	2018	BALX	A117068
MPS212588	194719	7540002	1	6.75	128	13	<2	1.2	2018	BALX	A117068
MPS212578	194260	7540657	4	28.31	127	14	3	9.7	2018	BALX	A117068
MPS212848	200520	7541958	5	17.98	127	12	4	3.8	2018	BALX	A117068
MPS212841	200522	7541396	5	12	126	12	6	2.5	2018	BALX	A117068

MPS212573	194176	7540211	5	22.73	126	18	4	9.4	2018	BALX	A117068
MPS212593	194935	7540250	2	11.29	125	19	4	2.7	2018	BALX	A117068
MPS212574	194134	7540275	4	27.03	124	17	5	7.4	2018	BALX	A117068
MPS212562	194160	7539709	2	16.76	123	13	2	1.4	2018	BALX	A117068
MPS212658	196600	7541120	5	10.98	123	17	8	3.8	2018	BALX	A117068
MPS212874	201158	7541640	3	3.38	123	<10	3	2	2018	BALX	A117068
Sample ID	Easting	Northing	Be **ppm **	Cs **ppm **	Li **ppm **	Nb **ppm **	Sn **ppm **	Ta **ppm **	Year	**Comp. **	WAMEX File Number
MPS212704	198599	7540837	2	10.27	120	12	4	1.6	2018	BALX	A117068
MPS212863	200841	7542039	4	19.7	119	19	6	3.2	2018	BALX	A117068
MPS212900	201480	7541564	9	13.41	118	42	16	11.4	2018	BALX	A117068
MPS212554	193827	7540163	5	20.98	118	16	3	3.9	2018	BALX	A117068
MPS212558	194012	7539898	4	16.8	117	15	6	1.6	2018	BALX	A117068
MPS212828	200202	7542041	4	19.94	117	25	7	5.3	2018	BALX	A117068
MPS212662	196596	7540877	1	11.53	117	15	3	2.4	2018	BALX	A117068
MPS212577	193998	7540473	5	23.84	115	20	4	8	2018	BALX	A117068
MPS212713	198595	7541558	4	13.66	115	15	4	2.9	2018	BALX	A117068
MPS212877	201158	7541879	3	12.32	113	18	5	5.2	2018	BALX	A117068
MPS212587	194674	7540070	2	7.64	112	15	2	2	2018	BALX	A117068
MPS212561	194103	7539767	2	15.35	110	16	3	1.6	2018	BALX	A117068
MPS212659	196598	7541043	9	16.96	109	37	8	13.4	2018	BALX	A117068
MPS212831	200198	7541877	9	42.66	108	55	21	15.9	2018	BALX	A117068
MPS212553	193779	7540226	5	29.31	107	17	4	6.3	2018	BALX	A117068
MPS212738	198920	7541719	7	24.4	107	29	6	8.3	2018	BALX	A117068
MPS212632	196441	7541122	7	13.55	107	26	8	7.7	2018	BALX	A117068
MPS212815	199881	7542037	5	26.58	106	21	5	3.6	2018	BALX	A117068
MPS212893	201478	7542038	4	5.8	106	24	9	5.2	2018	BALX	A117068
MPS212743	198920	7541320	7	7.16	104	24	6	7.8	2018	BALX	A117068
MPS212607	196279	7541036	7	18.55	104	30	13	9.6	2018	BALX	A117068
MPS212903	201802	7541560	5	10.11	103	23	13	4.7	2018	BALX	A117068
MPS212902	201798	7541476	5	13.12	102	22	8	6.1	2018	BALX	A117068
MPS212572	194230	7540143	4	21.76	101	17	3	8	2018	BALX	A117068
MPS212555	193874	7540097	3	12.65	100	17	3	2.7	2018	BALX	A117068
MPS212624	196443	7541683	4	10.08	100	24	8	6.2	2018	BALX	A117068
MPS212618	196275	7541914	3	14.8	100	20	4	3.4	2018	BALX	A117068
MPS212631	196438	7541201	5	12.55	100	18	5	3.8	2018	BALX	A117068

Appendix 5(B) – JORC Code, 2012 Edition Table 1 report

Section 1 Sampling Techniques and Data

(Criteria in this section apply to all succeeding sections)

Criteria	JORC Code explanation	Commentary
Sampling	• Nature and quality of sampling (eg cut channels, random chips, or	• Haystack Well soil sampling:Results presented as reported by
techniques	specific specialised industry standard measurement tools appropriate	Balx Pty Ltd in WAMEX Report A117068 dated May 2018.
	to the minerals under investigation, such as down hole gamma	• Haystack soil sampleson 320m x 80m grid.
	sondes, or handheld XRF instruments, etc). These examples should	• Haystack soil samplescollected from sieved 250micron at 10cm
	not be taken as limiting the broad meaning of sampling.	depth.
	• Include reference to measures taken to ensure sample representivity	• Haystack soil samples: on gridded soil samples, with uniform
	and the appropriate calibration of any measurement tools or systems	collection methods are considered representative for the nature of the
	used.	sample technique, though local variability related to soil thickness,
	• Aspects of the determination of mineralisation that are Material to the	transported material, residual versus outcrop may apply.
	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.
Drilling	• Drill type (eg core, reverse circulation, open-hole hammer, rotary air	• No drilling was undertaken.
techniques	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). _
Drill sample	• Method of recording and assessing core and chip sample recoveries	• No drilling was undertaken.
recovery	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.
Logging	• Whether core and chip samples have been geologically and	• No drilling was undertaken.
	geotechnically logged to a level of detail to support appropriate
	Mineral Resource estimation, mining studies and metallurgical
	studies.

MinRex Resources Limited ABN 81 151 185 867 Tel +61 (08) 9481 0389 Email info@minrex.com.au

Level 11 216 St Georges Terrace Perth WA 6000

www.MinRex.com.au

Criteria	JORC Code explanation	Commentary
	• Whether logging is qualitative or quantitative in nature. Core (or
	costean, channel, etc) photography.
	• The total length andpercentage of the relevant intersections logged.
Sub-sampling	• If core, whether cut or sawn and whether quarter, half or all core	• Haystack Well Soil Samples:Results presented as reported by Balx
techniques	taken.	Pty Ltd in WAMEX Report A117068
and sample	• If non-core, whether riffled, tube sampled, rotary split, etc and	• Both soil and stream sediment are appropriate reconnaissance
preparation	whether sampled wet or dry.	exploration techniques and are not to be considered as constituting a
	• For all sample types, the nature, quality and appropriateness of the	mineral deposit discovery. Stream sediment sampling collects a
	sample preparation technique.	sample that is representative of the catchment of the stream. Soil
	• Quality control procedures adopted for all sub-sampling stages to	sampling is subject to variable surface weathering and transported
	maximise representivity of samples.	cover, however, in the case in Haystack, extensive zones of
	• Measures taken to ensure that the sampling is representative of the in	transported cover were not observed.
	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.
Quality of	• The nature, quality and appropriateness of the assaying and	• Haystack Well Soil Samples:Results presented as reported by Balx
assay data	laboratory procedures used and whether the technique is considered	Pty Ltd in WAMEX Report A117068
and	partial or total.	• Haystack Well Soil Sampleswere analysed at MinAnalytical
laboratory	• For geophysical tools, spectrometers, handheld XRF instruments, etc,	Laboratory in Perth for Sodium Peroxide Fusion in Nickel Crucible
tests	the parameters used in determining the analysis including instrument	with ICPMS finish with lab code: LS:FUS25MS, LS:FS_ICPES.
	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	• Haystack Well Soil Sampleswere analysedFUS25MS: Sodium Peroxide Fusion in Nickel Crucible with ICPMS finish • Elements - Ag, As, Ba, Be, Bi, Cd, Ce, Cs, Dy, Er, Eu, Ga, Gd, Hf, Ho, In, La, Li, Lu, Nb, Nd, Pb, Pr, Rb, Re, Sb, Se, Sm, Sn, Sr, Ta, Tb, Te, Th, Tl, Tm, U,
	of accuracy (ie lack of bias) and precision have been established.	W, Y, Yb, Zr FUS25OES: Sodium Peroxide Fusion in Nickel Crucible
		with ICPOES Finish • Elements - Al, Ca, Fe, K, Mg, P, S, Si, Ti, V
		• Haystack Well Soil Samples:A total of 8 duplicates and 10
		standards were reported.

Criteria	JORC Code explanation	Commentary	Commentary
Verification of	• The verification of significant intersections by either independent or	•	Haystack Well Soil Samples: Results presented as reported by Balx
sampling and	alternative company personnel.		Pty Ltd in WAMEX Report A117068. Eight duplicates and ten
assaying	• The use of twinned holes.		standards were recorded and are within expected variation.
	• Documentation of primary data, data entry procedures, data
	verification, data storage (physical and electronic) protocols.
	• Discuss any adjustment to assay data.
Location of	• Accuracy and quality of surveys used to locate drill holes (collar and	•	Haystack Well Soil Samples:: Results presented as reported by
data points	down-hole surveys), trenches, mine workings and other locations		Balx Pty Ltd in WAMEX Report A117068. Recorded as Handheld
	used in Mineral Resource estimation.		GPS with accuracy of 5m. All data points in GDA94 MGAZ50
	• Specification of the grid system used.
	• Quality and adequacy of topographic control.
Data spacing	• Data spacing for reporting of Exploration Results.	•	Haystack Well Soil Samples:Results presented as reported by Balx
and	• Whether the data spacing and distribution is sufficient to establish the		Pty Ltd in WAMEX Report A117068. Data collected on 80mx320m
distribution	degree of geological and grade continuity appropriate for the Mineral		grid overspecific areas.
	Resource and Ore Reserve estimation procedure(s) and
	classifications applied.
	• Whether sample compositing has been applied.
Orientation of	• Whether the orientation of sampling achieves unbiased sampling of	•	Haystack Well Soil Samples:Samples collected on zones parallel to
data in	possible structures and the extent to which this is known, considering		the contact with granitoid.
relation to	the deposit type.	•
geological	• If the relationship between the drilling orientation and the orientation
structure	of key mineralised structures is considered to have introduced a
	sampling bias, this should be assessed and reported if material.
Sample	• The measures taken to ensure sample security.	•	Haystack Well Soil Samples:Results presented as reported by Balx
security			Pty Ltd in WAMEX Report A117068. Sample security unknown.
		•	All data has been compiled from open file reports by GeoBase Pty
			Ltd, a specialist geoscientific database company. Data is subject to

Criteria	JORC Code explanation	Commentary
		internal consistency and security checks.
Audits or	• The results of any audits or reviews of sampling techniques and data.	• Haystack Well Soil Samples:Results presented as reported by Balx
reviews		Pty Ltd in WAMEX Report A117068. No recorded audit.
		• All data has been compiled from open file reports by GeoBase Pty
		Ltd, a specialist geoscientific database company. Data is subject to
		internal consistency and security checks.

Section 2 Reporting of Exploration Results

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

Criteria	JORC Code explanation	Commentary
Mineral	• Type, reference name/number, location and ownership including	• As reported in Appendix 1 and the body of this report. All granted
tenement and	agreements or material issues with third parties such as joint	tenements are in good standing
land tenure	ventures, partnerships, overriding royalties, native title interests,
status	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.
Exploration	• Acknowledgment and appraisal of exploration by other parties.	• Haystack Well Soil Samples:Results presented as reported by Balx
done by other		Pty Ltd in WAMEX Report A117068. Data also reported by Balx Pty
parties		Ltd in A123763 in May 2020.
Geology	• Deposit type, geological setting and style of mineralisation.	• Exploration is targeting lithium bearing pegmatites in the aureoles of
		granites. This part of the Pilbara contains multiple Archean granites
		intruding mafic volcanics and sediments. Pegmatites are emplaced
		from extrusion of the granites into the surrounding country rock. This
		work is looking for comparable targets to the Pilgangoora and
		Wodgina styles of mineralization.

Criteria	JORC Code explanation	Commentary
Drill hole	• A summary of all information material to the understanding of the	• No drilling was undertaken.
Information	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.
Data	• In reporting Exploration Results, weighting averaging techniques,	• No drilling was undertaken.
aggregation	maximum and/or minimum grade truncations (eg cutting of high
methods	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.
Relationship	• These relationships are particularly important in the reporting of	• No drilling was undertaken.
between	Exploration Results.
mineralisation	• If the geometry of the mineralisation with respect to the drill hole
widths and	angle is known, its nature should be reported.
intercept	• If it is not known and only the down hole lengths are reported, there
lengths	should be a clear statement to this effect (eg ‘down hole length, true
	_width not known’). _
Diagrams	• Appropriate maps and sections (with scales) and tabulations of	• As per the body of the report
	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.
Balanced	• Where comprehensive reporting of all Exploration Results is not	• All results are presented in the figures in the body of report. And
reporting	practicable, representative reporting of both low and high grades	samples greater than a designated cut-off are tabulated in Appendix
	and/or widths should be practiced to avoid misleading reporting of	5.
	Exploration Results.

Criteria	JORC Code explanation	Commentary
Other	• Other exploration data, if meaningful and material, should be reported	• Haystack wellhas been visited by a competent person associated
substantive	including (but not limited to): geological observations; geophysical	with Odette Five and extensive pegmatites outcrop in the vicinity of
exploration	survey results; geochemical survey results; bulk samples – size and	the anomalous soil results.
data	method of treatment; metallurgical test results; bulk density,	• Other tenements are applications and reportedin this release for
	groundwater, geotechnical and rock characteristics; potential	completeness.
	deleterious or contaminating substances.
Further work	• The nature and scale of planned further work (eg tests for lateral	• Haystack wellfollow up soil sampling and verification work, including
	extensions or depth extensions or large-scale step-out drilling).	mapping and rock sampling, to be followed by drilling
	• Diagrams clearly highlighting the areas of possible extensions,	• Other tenements are applications and reportedin this release for
	including the main geological interpretations and future drilling areas,	completeness and in the context of the Geological Survey of Western
	provided this information is not commercially sensitive.	Australian mapping as referenced.