PREMIER1 LITHIUM LIMITED — Capital/Financing Update 2023

May 29, 2023

ASX Release

==> picture [187 x 75] intentionally omitted <==

30 May 2023

AIRBORNE GEOPHYSICAL SURVEY COMPLETED TARGETING LCTPEGMATITE POTENTIAL AT STELAR METAL’S TRIDENT PROJECT

Highlights

• 2,147 line-km high-resolution, low-level airborne magnetic and radiometric surveying completed at Stelar Metals' Trident Project in Broken Hill, NSW

• Survey forms part of development of SensOre's next generation litho-geochemical and geophysical tools for exploration targeting of critical minerals across NSW and Australia wide.

• High priority technology development project to be rapidly integrated and deployed into SensOre’s growing AI ML predictive toolbox for discovery.

• Airborne campaign co-funded under NSW Government's Critical Minerals and High-Tech Metals Activation Grants worth $322,000

SensOre Ltd (ASX: S3N) (“SensOre” or the “Company”) is pleased to advise that it has completed geophysical surveying at Stelar Metals Ltd’s (ASX:SLB) (“Stelar”) 100% owned Lithium Trident Project in the north of Broken Hill, NSW. The co-funded geophysical survey is a collaboration between SensOre and Stelar and is designed to pilot test SensOre’s potentially new ground-breaking techniques for the direct detection of candidate Caesium signatures of potential LCT-bearing pegmatites. An important part of the program is taking data and knowledge from Western Australia and directly applying it at continent scale to NSW. This is possible using SensOre’s Australia data cube.

SensOre CEO Richard Taylor said: "We are reviewing the data and looking forward to the results. Lithium direct detection techniques are less developed than for other metals due to a combination of factors. Expanding the exploration toolkit to accelerate new discoveries has the potential to increase lithium resources in Australia and contribute to lower battery prices in the future."

==> picture [393 x 272] intentionally omitted <==

Image 1: Example of SensOre’s Lithium Prospectivity Mapping at Kathleen Valley region WA

==> picture [428 x 297] intentionally omitted <==

Image 2 Using AI ML transfer of knowledge across Australia to realise Li potential in NSW

Stelar has previously identified multiple pegmatite swarms along ~15km of prospective strike length where tin and tantalum have been exploited for over 140 years. Mapped individual pegmatites, confirmed as lithium-rich LCT-type fractionated pegmatites in the area, measure over 1km in length and up to 100m in width. Rock chip sampling from multiple historic mines in the area has further confirmed the potential for high-grade lithiumbearing pegmatites of the project.

The survey completed on 28 May and is expected to be followed up with a ground campaign as part of further geological and geochemical studies as SensOre looks to harness its advanced AI – Machine Learning technology approach to assist accelerated minerals exploration programs.

==> picture [384 x 199] intentionally omitted <==

Image 3: Thomson Airborne Aircraft Conducting SensOre’s Research Work

This release was approved by the SensOre CEO.

Enquiries

Richard Taylor Aiden Bradley Chief Executive Officer Media & Investor Relations T: +61 3 9492 3843 M: +61 414 348 666 Richard.taylor@sensore.com.au aiden@nwrcommunications.com.au

About SensOre

SensOre aims to become the top performing minerals targeting company in the world through the deployment of AI and machine learning (ML) technologies, specifically its Discriminant Predictive Targeting® (DPT®) workflow. SensOre collects all available geological information in a terrane and places it in a multidimensional hypercube or data cube. SensOre’s big data approach allows DPT predictive analytics to accurately predict known endowment and generate targets for further discovery.

The SensOre Group has built a tenement portfolio of highly prospective, wholly-owned and joint ventured technology metals tenement packages located in Western Australia. As the capacity of SensOre’s AI technologies expand to new terranes and a broader range of commodities, the Company anticipates that new targets will be identified and acquired in Australia and internationally.

SensOre’s DPT technology has been developed over many years and involves the application of new computer assisted statistical approaches and ML techniques across the workflow of mineral exploration. The workflow includes data acquisition, data processing, ML training, ML prediction and analysis through DPT. SensOre has acquired numerous data sets and used these to generate mineral system targets. Targets have been analysed and vetted by SensOre’s experienced exploration geoscientists. Publicly available data in the form of geophysics, surface geochemical, drilling and geological layers and derivatives have been compiled into a massive data cube covering much of Western Australia. SensOre believes that the combination of big data and ML techniques will provide the next generation of exploration discovery.

Competent person’s statement

The information in this announcement that relates to Exploration Results and Mineral Resources is based on information compiled by Robert Rowe, a Competent Person who is a Member of The Australasian Institute of Mining and Metallurgy (AusIMM) and is a Registered Professional Geoscientist in the field of Mineral Exploration with the Australian Institute of Geoscientists. Mr Rowe is a full-time employee and the Chief Operating Officer of SensOre. Mr Rowe has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. Mr Rowe consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.

Forward-looking statements

This announcement contains or may contain certain ‘forward-looking statements’ and comments about future events, including in relation to SensOre’s business, plans and strategies and expected trends in the industry in which SensOre currently operates. Forward-looking statements involve inherent risks, assumptions and uncertainties, both general and specific, and there is a risk that such predictions, forecasts, projections and other forward-looking statements will not be achieved. Forward looking statements are based on SensOre’s good faith assumptions as to the financial, market, regulatory and other relevant environments that will exist and affect the Company’s business and operations in the future. A number of important factors could cause SensOre’s actual results to differ materially from the plans, objectives, expectations, estimates, targets and intentions expressed in such forward-looking statements, and many of these factors are beyond SensOre’s control. Forward-looking statements may prove to be incorrect, and circumstances may change, and the contents of this announcement

may become outdated as a result. SensOre does not give any assurance that the assumptions will prove to be correct. Readers should note that any past performance is given for illustrative purposes only and should not be relied on as (and is not) an indication of the Company’s views on its future financial performance or condition. Past performance of the Company cannot be relied on as an indicator of (and provides no guidance as to) future performance including future share price performance. Except as required by law or regulation, SensOre undertakes no obligation to provide any additional or updated information whether as a result of new information, future events or results or otherwise. Nothing in this announcement should be construed as either an offer to sell or a solicitation to buy or sell SensOre securities.