PURE RESOURCES LIMITED — Capital/Financing Update 2022

Nov 29, 2022

ASX RELEASE | 30 November 2022 | ASX:PR1

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Pure Secures 160km[2] Lithium Exploration Area - Quebec, Canada

HIGHLIGHTS

• Pure Resources has secured 160 km[2] of claims situated 65 km northeast of Patriot Battery Metals Inc. (CVE:PMET), Corvette discovery, in the Superior Province, Quebec,Canada.

• Pure has received approval for claims covering part of the 70 km long Laforge Greenstone Belt that has structural and lithological analogies to the nearby La Grande Greenstone Belt, host to the Corvette pegmatite discoveries.

• The rock types of the Laforge Greenstone Belt are dominated by amphibolite facies, mafic to ultramafic metavolcanics and intermediate to mafic paragneiss units. This stratigraphy is analogous to PMET Corvette property where pegmatite intrusions are hosted within basalt derived amphibolite rocks (Figure 1).

• The Pure geological team is excited to have pegged this greenfields exploration opportunity with aerial reconnaissance mapping and sampling to be undertaken in the coming weeks.

• As recently highlighted, The Company has received several new project opportunities and continues to conduct high-level internal assessments on projects that fit the Company’s objectives across sectors such as Lithium, Nickel, Copper and Rare Earths.

Pure Resources Limited ( Pure or Company ) is pleased to announce the Company has secured 160 km[2] of claims situated 65 km northeast of Patriot Battery Metals Inc. Corvette discovery, in the Superior Province, Quebec, Canada.

Pure’s prospectus dated 11 March 2022 and released to the ASX on 19 April 2022 ( Prospectus ) outlined the Company’s use of funds ( Use of Funds ). Under the Use of Funds, Pure has allocated $400,000 for project generative activities.

Pure’s Executive Chairman, Patric Glovac, commented:

“The recently approved Laforge claims are the result of the Company’s global review for future facing metal opportunities. The Laforge Greenstone Belt was of particular interest as it was recognised that the geology is analogous to lithium belts in Canada and globally.

“I am extremely proud of the geological team to identify and secure these greenfield claims covering part of the 70 km long Laforge Greenstone Belt that has structural and

PURE RESOURCES LIMITED ASX PR1 | ACN 653 330 413 PHONE +61 8 9388 0051 22 Townshend Road EMAIL info@pureresources.com.au SUBIACO WA 6008 WEBSITE www.pureresources.com.au

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lithological analogies to the nearby La Grande Greenstone Belt, host to the Corvette pegmatite discoveries.

“We believe these claims, whilst greenfields, are situated in the same geological province and exhibit analogous rock types, structural setting and geophysical properties as observed at the Corvette Lithium Trend 65 km to the southwest.

“This a genuine opportunity to discover a significant lithium deposit in a Tier-1 jurisdiction and we’re excited to kick-off exploration with aerial reconnaissance mapping and sampling to be undertaken in the coming weeks.”

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Figure 1: Magnetic image of the northeast Superior province, Quebec, Canada

The Laforge Claims

PR1 (Canada) Ltd (a wholly owned subsidiary of Pure) received approval for the Company’s application for 319 claims situated in central Quebec, Canada (Figure 1). The claims cover an area of 160 km[2] and are situated 35 km from the La Grande-4 (LG-4) hydroelectric generating station that is part of Hydro-Québec’s James Bay Project. The claims are accessible by a network of roads that service the hydroelectric project.

Rare-element pegmatites occur along large regional-scale faults in greenschist and amphibolite facies metamorphic terranes. They are typically hosted by mafic metavolcanic or metasedimentary rocks and are located near peraluminous granite plutons (Selway et al. 2005). Patriot Battery Metals Inc. Corvette discovery is the nearest known lithium project and shares many geological similarities with the Company’s Laforge claims. Review of publicly available geological and geophysical datasets by Pure’s

PURE RESOURCES LIMITED ASX PR1 | ACN 653 330 413 22 Townshend Road SUBIACO WA 6008

PHONE +61 8 6245 EMAIL info@pureresources.com.au WEBSITE www.pureresources.com.au

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geologists identified that the Laforge Greenstone Belt is prospective for pegmatite-hosted lithium deposits due to the following geological attributes:

• Two families of rare-element pegmatites are common in Quebec, Ontario and Manitoba, Canada: Li-Cs-Ta enriched (LCT) and Nb-Y-F enriched (NYF). LCT pegmatites typically occur in the Superior province, whereas NYF pegmatites occur in the Grenville province (Goad, 1990; Breaks et al., 2003). The Laforge and La Grande greenstone belts are situated within the Superior province and are as such considered prospective for the LCT pegmatite family.

• The rock types of the Laforge Greenstone Belt are dominated by amphibolite facies, mafic to ultramafic metavolcanics and intermediate to mafic paragneiss units. This stratigraphy is analogous to PMET Corvette property where pegmatite intrusions are hosted within basalt derived amphibolite rocks (Figure 1).

• The main target corridor, within the Laforge Greenstone Belt, is defined by highmagnetic signatures (Figure 2), which is indicative of the presence of rocks rich in iron and magnesium (i.e. mafic and ultramafic lithologies). The magnetic data will be a key targeting tool for identifying prospective corridors where the rheological and structural architecture are favourable for the intrusion of pegmatite bodies. By analogy, the Corvette pegmatites are situated along a high-magnetic corridor, indicative of the underlaying mafic stratigraphy which hosts the pegmatites.

• The Quebec geological survey, Ministère des Ressources naturelles et des Forêts ( MERN ), has identified multiple peraluminous granites adjacent to the Pure’s claims and it is hypothesised that one, or more, of these granites could be a potential source of LCT pegmatites.

- Magnetic Imagery highlighting the high magnetic, primary target corridors similarities with Patriot Battery Metals Inc. Corvette property.

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Figure 2: Magnetic image of PR1 (Canada) Ltd Laforge claims highlighting the high-magnetic, primary target corridors. Scale 1:400,000

PURE RESOURCES LIMITED ASX PR1 | ACN 653 330 413 PHONE +61 8 6245 22 Townshend Road EMAIL info@pureresources.com.au SUBIACO WA 6008 WEBSITE www.pureresources.com.au

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Figure 3: Magnetic image of Patriot Battery Metals Inc. Corvette property highlighting the highmagnetic, primary target corridors. Scale 1:400,000

Next Steps

The Company has engaged Apex Geoscience Ltd to complete a 2-week helicopter assisted mapping and sampling program to further investigate the potential of the Laforge claims and aims to identify outcropping pegmatites which will be targeted in follow-up exploration programs. The mapping and sampling program will be undertaken in early December 2022.

Pure is also considering other opportunities to expand their tenement holding within the region

- END -

This announcement is approved for release by the Board of Pure Resources Limited.

Mr Patric Glovac Executive Chairman Pure Resources Limited

About Pure Resources

Pure’s vision is to become an eminent battery metal focussed company on the ASX, either through its existing portfolio of nickel and copper assets, generation of new projects, or acquisitions of existing projects presented to the Company with a strong determination to add Lithium, Rare Earths or Graphite to the company’s portfolio.

PURE RESOURCES LIMITED ASX PR1 | ACN 653 330 413 22 Townshend Road SUBIACO WA 6008

PHONE +61 8 6245 EMAIL info@pureresources.com.au WEBSITE www.pureresources.com.au

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References

Breaks, F.W., Selway, J.B. and Tindle, A.G., 2003. Fertile peraluminous granites and related rare element mineralization in pegmatites, Superior province, northwest and northeast Ontario: Operation Treasure Hunt. Ontario Geological Survey, Open File Report 6099, 179p.

Selway, J.B., Breaks, F.W. and Tindle, A.G., 2005. A Review of Rare-Element (Li-Cs-Ta) Pegmatite Exploration Techniques for the Superior Province, Canada, and Large Worldwide Tantalum Deposits, Exploration and Mining Geology, Vol. 14, Nos. 1-4, pp. 1-30, 2005.

Goad, B.E., 1990. Granitic pegmatites of the Brancroft area, southeastern Ontario. Ontario Geological Survey, Open File Report 5717, 459p.

PURE RESOURCES LIMITED ASX PR1 | ACN 653 330 413 22 Townshend Road SUBIACO WA 6008

PHONE +61 8 6245 EMAIL info@pureresources.com.au WEBSITE www.pureresources.com.au

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