TEMPEST MINERALS LIMITED — Capital/Financing Update 2018

Apr 5, 2018

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ASX Announcement

ASX: Li3

6 April 2018

Yilgarn Lithium Project: Phase 1 Drilling Results

• Phase 1 broad-scale shallow Aircore drilling identifies anomalous Li and Li associated pathfinder elements in weathered basement rocks at 3 Licenses

• Dundas drilling identifies a potentially large LCT pegmatite under cover and highlights a prospective 35km long corridor

• Anomalous Li and associated pathfinder values in the basement rocks in the Bedonia and Ten Mile Licenses

Lithium Consolidated Mineral Exploration Ltd (“LCME”) is pleased to announce that the Phase 1 Yilgarn Lithium Project drilling program geochemical results have been received and interpreted. The results confirm the presence of L ithium- C aesium- T antalum (LCT) pegmatites under cover in at least 3 Licenses.

Anomalous levels of Li and associated LCT pegmatite pathfinder elements (i.e. Cs, Nb, Rb, Sn, Ta) were intersected in holes in the E63/1826 (Dundas), E63/1814 (Bedonia) and E63/1813 (Ten Mile) licences. Elevated levels of LCT pegmatite pathfinder elements were also intersected in several holes at Snomys (see Figure 1).

Figure 1: Regional Location.

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LITHIUM CONSOLIDATED MINERAL EXPLORATION LTD ACN 612 008 358 Phone : +61 7 3212 6299 Fax : +61 7 3212 6250 Address : Level 10, 110 Mary Street, Brisbane Q 4000

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Anomalous LCT pegmatite pathfinders were identified at the Dundas License in and around the intersected weathered pegmatites in both Aircore lines, approximately 1.6km apart. Airborne magnetic data used to target the Dundas area indicates that the prospective zone is open to the north and south of the current drilling.

LCME believes that the Dundas area is the southern part of a buried LCT pegmatite corridor. LCME currently holds the Licenses to the north of the current Aircore lines over an area covering approximately 40km of the prospective granite contact zone and potential LCT pegmatite corridor (see Figure 1). These Licenses have had limited previous gold exploration and until recently no lithium exploration.

Analytical sampling parameters were as follows:

• 988 analytical samples were collected in 1m single samples and composites of up to 5m;

• additional 19 certified reference material samples and 30 field duplicate samples were included for QA/QC purposes;

• 176 samples were re-assayed for gold;

• sample preparation and analysis were carried-out at ALS Global in Perth;

• analysis consisted of a four-acid digestion with ICP-AES and ICP-MS finish;

• a total of 48 elements, which included Li and pathfinder elements, were assayed for; and

• follow-up gold analysis was done using a 50g fire assay with an AAS finish.

Dundas License

Elevated to anomalous Li and LCT pegmatite pathfinders were identified under cover in highly weathered pegmatites and host meta-sediments on both lines of Aircore drilling (see Figure 2). These results indicate that the Dundas License may contain a covered LCT pegmatite swarm. Sampling at this stage was limited to the upper, highly weathered rock horizons, where the Li and associated pathfinders have been remobilised and dispersed around the LCT pegmatite source.

The Aircore geochemistry shows anomalous Li (up to 224ppm) and Cs (up to 131 ppm) in haloes around the weathered pegmatites and anomalous Ta (up to 57.2ppm), Rb (up to 1930ppm), Nb (up to 90.3ppm) and Sn (up to 35.7ppm) within the pegmatites. Li and Cs are generally more chemically mobile than elements such as Ta, Nb and Sn. Anomalous LCT pegmatite pathfinder elements in the upper parts of WRVAC004 and WRVAC008 were found to correspond to zones containing angular quartz fragments that most likely represent extremely weathered pegmatites. Figures 3 and 4 show cross-sections along the drill lines with the interpreted geology and downhole Li and Ta geochemistry. Additional downhole geochemistry is shown in Table A1.

The geochemistry indicates the potential for spodumene bearing pegmatites in the deeper fresh rock. The base of weathering was only intersected in WRVAC004 at 33m, this hole and holes WRVC005 and WRVAC006 ended with anomalous Li values.

The LCT pegmatite zone, based on anomalous Li and pathfinders, has a potential 1.6km long strike which is open to the south and east. Pegmatite intersections on the 6460750N Aircore line suggest the zone has a width of at least 200m. The drilling results suggest that the identified pegmatite has an apparent shallow dip of 3[o ] to the west and an apparent thickness between 3.5m to 12m and that the weathered cover is shallow, varying between 20m – 40m (see Figure 3).

LITHIUM CONSOLIDATED MINERAL EXPLORATION LTD ACN 612 008 358 Phone : +61 7 3212 6299 Fax : +61 7 3212 6250 Address : Level 10, 110 Mary Street, Brisbane Q 4000

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Dundas is located 15km NE, on the opposite granite contact, from the Buldania prospect where Liontown Resources Limited’s recent deep RC drilling has interesected wide mineralised Li intervals in partial covered LCT pegamtites (see Figure 1).

Figure 2: Dundas License drill hole locations

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LITHIUM CONSOLIDATED MINERAL EXPLORATION LTD ACN 612 008 358 Phone : +61 7 3212 6299 Fax : +61 7 3212 6250 Address : Level 10, 110 Mary Street, Brisbane Q 4000

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Figure 3: Dundas Cross section 6460750N

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Figure 4: Dundas Cross section 6459180N

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Bedonia License

Bottom of the hole samples in 2 Aircore holes WRVAC019 and WRVAC022, 600m apart intersected anomalous LCT pegmatite pathfinders. Downhole geochemistry is shown in Table A2. The anomalous LCT pegmatite pathfinders is associated with a narrow, 2m wide, strongly weathered pegmatite in WRVAC022 and strongly weathered felsic meta-volcanics in

LITHIUM CONSOLIDATED MINERAL EXPLORATION LTD ACN 612 008 358 Phone : +61 7 3212 6299 Fax : +61 7 3212 6250 Address : Level 10, 110 Mary Street, Brisbane Q 4000

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WRCAC0019. Cover thickness in the Bedonia area is up to 90m. The anomalous basement geochemistry is encouraging, and the area is considered prospective for LCT pegmatites.

Bedonia is located along strike 6km to the south of Buldania (see Figure 1).

Ten Mile.

Anomalous LCT geochemistry was intersected at the bottom of WRCV091 in a weathered quartz vein and in some of the overlying clay rich material. Downhole geochemistry is shown in Table A3. There is only one line of Aircore holes in this area that is considered to be encouraging. Aircore holes on other two lines, 3.5 km to the north, did not return anomalous results.

Snomys and Other Tenements.

Drilling at E28/2632 (Snomys) returned elevated Li and associated LCT pegmatite pathfinders within highly weathered cover material. These results are still being assessed. Aircore drilling in E28/2651 (Cool) and E15/1542 (Nawoc) did not return anomalous values for the LCT pegmatite pathfinder elements.

Gold Analyses.

176 samples from Aircore holes across the 6 Licenses were re-assayed for gold based on their geology and elevated Ag and Au pathfinder elements. The majority of the results were below the detection limit of 0.005ppm Au with a few Au results at or only slightly above the detection limit.

LITHIUM CONSOLIDATED MINERAL EXPLORATION LTD ACN 612 008 358 Phone : +61 7 3212 6299 Fax : +61 7 3212 6250 Address : Level 10, 110 Mary Street, Brisbane Q 4000

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Competent Person’s Statement:

Information in this report that related to Exploration Results is based on and fairly represents information and supporting documentation prepared by Mr Adrian Black. Mr. Black is a director of Newexco Services Pty Ltd, an independent geological consultancy contracted by LCME. Mr Black is a member of the Australian Institute of Geoscientists and has sufficient experience of relevance to the styles of mineralisation and types of deposits under consideration and to the activities undertaken to qualify as a Competent Person as defined in the 2012 Edition of the JORC Australasian Code for Reporting of Exploration Results. Specifically, Mr. Black consents to the inclusion in this report of the matters based on his information in the form and context in which they appear.

Additional Information:

Aircore drilling is a shallow, cost effective exploration technique for geochemically testing the older basement rocks, in which the LCT pegmatites occur. It is also useful in areas where the basement is not exposed but covered by varying thickness of younger barren rocks or transported cover. The basement rocks in these areas are generally highly altered or decomposed due to surficial weathering processes. Aircore drilling uses a blade bit and in some cases a small percussion hammer to cut through and sample the weathered rocks. It provides similar information to surface sampling and trenching as used in outcropping terrains. Fresh basement rocks are generally too hard for aircore drilling and as such the technique is not appropriate for more detailed exploration or delineation drilling.

For more information, please contact:

Duncan Cornish

Company Secretary

Phone: +61 7 3212 6299

Email: investors@lithiumconsolidated.com

Please visit us at: www.lithiumconsolidated.com

Cautionary Statements

Forward-looking statements

This document may contain certain forward-looking statements. Such statements are only predictions, based on certain assumptions and involve known and unknown risks, uncertainties and other factors, many of which are beyond the company’s control. Actual events or results may differ materially from the events or results expected or implied in any forward-looking statement.

The inclusion of such statements should not be regarded as a representation, warranty or prediction with respect to the accuracy of the underlying assumptions or that any forward-looking statements will be or are likely to be fulfilled. LCME undertakes no obligation to update any forward-looking statement to reflect events or circumstances after the date of this document (subject to securities exchange disclosure requirements).

The information in this document does not take into account the objectives, financial situation or particular needs of any person or organisation. Nothing contained in this document constitutes investment, legal, tax or other advice

LITHIUM CONSOLIDATED MINERAL EXPLORATION LTD ACN 612 008 358 Phone : +61 7 3212 6299 Fax : +61 7 3212 6250 Address : Level 10, 110 Mary Street, Brisbane Q 4000

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Appendix: Additional Information

Table A1: Dundas anomalous down-hole geochemistry

( the coloured bars are based on the min/max of element values in 988 aircore samples )

Drill Hole	From (m)	To (m)	Width (m)	L i (ppm)	L i (ppm)	L i (ppm)	T a (ppm)	T a (ppm)	C s (ppm)	C s (ppm)	C s (ppm)	C s (ppm)	B e (ppm)	N b (ppm)	N b (ppm)	R b (ppm)	R b (ppm)	R b (ppm)	S n (ppm)	S n (ppm)
	1	2	1	36.2			0.4		5.25				1.34	3.03		62.8			0.78
	7	9	2	13.1			0.34		1.35				1.19	4.1		6.06			1.43
	9	11	2	12.1			14.8		5.18				1.56	7.7		36.6			1.89
	11	12	1	5			7.35		2.45				0.98	20.7		42.7			0.88
	12	14	2	7				33.4	3.11				6.96	40.2		111			1.29
	14	16	2	51.2				39.4	38.4				4.02		80.2	151			1.27
	16	18	2		85.9		4.09		51.1				5.49	13.85		201			2.61
WRVAC004	18	20	2		105		0.99				80.5		3.69	6.8		291			3.1
	20	22	2		88.3		0.49		120.			5	4.44	9.35		439			2.65
	22	23	1		91.9		0.72		131				6.75	25.9		690			4.26
	23	24	1		91		16.5		42.1				4.72	36.9			1050			22.5
	24	25	1	48.7			9.28		32.4				3.89	33.3		178		0	11.5
	25	26	1	25.4				33.8	13.05				6.82	69.3		395			5.92
	26	27	1	28.5			24.1		9.33				5.52	57.6		259			5.92
	27	28	1	54.8			0.66		47.4				4.12	8.3		210			3.36
	28	30	2	12.7			0.59		3.66				4.32	6.28		36.4			2.68
	30	32	2	19.4			0.48		8.59				3.51	6.42		59.8			1.9
	32	33	1		133.5		0.47		42.5				3.95	5.83		102			1.72
Drill Hole	From (m)	To (m)	Width (m)	L i (ppm)			T a (ppm)		C s (ppm)				B e (ppm)	N b (ppm)		R b (ppm)			S n (ppm)
	0	2	2	50.9			2.21		9.94				1.88	9.19		223			2.46
	2	3	1	50.7			9.47		35				2.38	30.1		1930			4.06
	3	4	1	57.4			5.44		44				2.7	26.2		155		0	6.41
	4	5	1	20.6			9.93		47.2				2.14	31.2		157		0	3.91
	5	6	1	40.9			26.6		43.1				2.58	50.9		172		0	6.11
	6	7	1	42.5			17.15		10				3.15		90.3	403			5.08
	7	8	1	30.1			11.3		21.1				2.79	52.2			1040		3.03
	8	9	1		98.1		8.76		36.9				6.63	49.6		383			9.03
WRVAC005	9	10	1	1		60	9.24			67.3			8.23	44.5		550			14.5
	10	11	1	30.1			15.55		20.2				4.45	40.1		412			3.28
	11	12	1	42.1			18.75		19.5				3.46	47.7		412			5.13
	12	13	1	44.3			23.5		17.35				12.75	62.3		336			9.25
	13	14	1	56.8			2.3		38.7				8.23	13.15		600			14
	14	15	1	60.3			5.04		27.3				8.41	15		600			9.56
	15	17	2	59.6			0.65		44.2				7.24	7.26		340			6.37
	17	19	2	47.8			0.57		29.9				3.8	6.34		155.5			2.75
	19	21	2		93.5		5.44		46.1				5.42	7.6		108.5			2.77
	21	23	2		118.5		1.32		30.2				7.6	6.1		104			3.49
	23	24	1	15		7.5	0.43		21.4				4.46	4.93		78.5			1.82

LITHIUM CONSOLIDATED MINERAL EXPLORATION LTD ACN 612 008 358 Phone : +61 7 3212 6299 Fax : +61 7 3212 6250 Address : Level 10, 110 Mary Street, Brisbane Q 4000

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Drill Hole	From (m)	To (m)	Width (m)	L i (ppm)	L i (ppm)	L i (ppm)	L i (ppm)	L i (ppm)	T a (ppm)	T a (ppm)	T a (ppm)	T a (ppm)	C s (ppm)	C s (ppm)	B e (ppm)	B e (ppm)	B e (ppm)	N b (ppm)	R b (ppm)	R b (ppm)	S n (ppm)	S n (ppm)	S n (ppm)
	1	4	3	31.4					0.48				7.21		1.17			5.26	70.5		1.19
	4	8	4			156			0.64					70	1.83			8.12	327		1.61
	8	10	2			155			0.59					54.2	1.92			8.51	275		2.26
	10	13	3	85.4					0.44				33.8		1.88			6.49	205		1.21
	13	14	1	24.4					0.57				5.45		2.06			9.73	82.5		1.26
	14	16	2	74.1					0.43				21.1		3.5			7.67	192		1.13
	16	18	2		121.5				0.98				31.3		12.35			11.55	189		10.3
WRVAC010	18	19	1	51.5					14.95				19.7		7.38			26.2	430		15.1
	19	20	1	40.5						25.8			25.1			20.3		30.9		650	29		.1
	20	21	1	69.7							45.3		27.3			20.7		38.8	448		35.7
	21	22	1	50.4							44.1		22.3				31.5	41	392		2	6.4
	22	23	1	27.4								57.2	10.2				30	29.3	131		8.1
	23	25	2	175			.5		9.53					73.9	10.6			12.95	271		3.41
	25	27	2	15		8.5			8.23					58.7	8.21			12.3	247		4.69
	27	28	1	20				4	4.37					61.3	6.7			8.71	225		2.5
	28	29	1	224					3.23					56.9	5.56			8.64	216		2.46
	29	30	1	19				8	3.13					44.6	7.57			11.5	210		2.67

Table A2: Bedonia anomalous down-hole geochemistry

Drill Hole	From (m)	To (m)	Width (m)	L i (ppm)	L i (ppm)	T a (ppm)	C s (ppm)	C s (ppm)	B e (ppm)	B e (ppm)	N b (ppm)	N b (ppm)	R b (ppm)	S n (ppm)
	1	3	2	24.3		0.42	2.64		0.93		4.51		39.2	1.11
	74	78	4	22.1		0.12	1.93		1.47		1.59		18.2	0.49
WRVAC019	78	79	1	24.4		0.18	4.03		3.77		12.7		48	0.73
	79	80	1	21.6		8.83	6.39		5.98		42		234	5.79
	80	81	1	19.6		12.9	5.22			27.8	26.8		93.3	5.79
	81	82	1		114	12.65		55.8	69.4		34		367	14.2
Drill Hole	From (m)	To (m)	Width (m)	L i (ppm)		T a (ppm)	C s (ppm)		B e (ppm)		N b (ppm)		R b (ppm)	S n (ppm)
	1	2	1	15.1		0.62	2.36		1.17		5.09		45.9	0.86
	82	86	4	13.8		0.1	1.2		1.14		1.4		11.2	0.46
WRVAC023	86	88	2	17.4		2.8	4.08		2.41		19.1		95.4	2.66
	88	90	2	11.9		14.6	7.04		2.82			66.8	356	6.73
	90	91	1	29.7		7.38	4.93		2.82		32.6		245	4.26

Table A3: Ten Mile anomalous down-hole geochemistry

Drill Hole	From (m)	To (m)	Width (m)	L i (ppm)	T a (ppm)	T a (ppm)	C s (ppm)	C s (ppm)	B e (ppm)	N b (ppm)	R b (ppm)	S n (ppm)
	0	2	2	39.5	0.55		5.51		0.84	3.33	36.6	3.09
	2	6	4	56.5	0.31			73.3	1.6	2.71	203	2.16
	6	8	2	34.6	1.37			67.8	3.38	3.87	177	3.14
WRVAC091	8	12	4	47.9	3		26.1		2.84	5.51	96.8	12.8
	12	13	1	47.6	0.41		27.4		2.15	1.83	94.8	12.05
	13	14	1	13	11.2		9.38		3.86	8.05	21.2	12.55
	14	15	1	8.1		39.9	8.86		66.9	19.25	43.9	7.72

LITHIUM CONSOLIDATED MINERAL EXPLORATION LTD ACN 612 008 358 Phone : +61 7 3212 6299 Fax : +61 7 3212 6250 Address : Level 10, 110 Mary Street, Brisbane Q 4000

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Table A4: 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.	LCME have completed94 aircore drill holes for 3958m. A drilling hole summary is attached in Table A1 in the ASX announcement dated 16 January 2018.
	Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used	Aircore hole samples were collected every 1m in buckets placed under cyclone recovery system. Samples were laid out in 1 metre piles for logging and sampling. 2kg to 3kg analytical samples were collected by hand, using a hand scoop, from the piles and stored in draw-string calico sample bags. Analytical sample lengths varied from 1m up to 5m composite based on geological logging. Compositing involved collecting an equal mass of material from each 1 m pile. Archean basement was always sampled and a soil sample was collected from each hole. Material interpreted as being transported or exotic cover was not sampled.
	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	All the samples were aircore chips and sampled on site. Samples were sent to ALS Global in Perth for analysis for a suite of 48 elements via 4-acid digest and ICP techniques.

LITHIUM CONSOLIDATED MINERAL EXPLORATION LTD ACN 612 008 358 Phone : +61 7 3212 6299 Fax : +61 7 3212 6250 Address : Level 10, 110 Mary Street, Brisbane Q 4000

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Criteria	JORC Code explanation	Commentary
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).	Aircore drilling was carried out by Bostech Drilling Australia Pty Ltd using a Bostech Drillboss 200 mounted on a 4WD truck. Drilling was carried using a blade bit to refusal. Selected holes had slimline hammer tails.
Drill sample recovery	Method of recording and assessing core and chip sample recoveries and results assessed.	Sample recovery was assessed visually and was considered suitable for the determining the presence of lithium mineralisation in the intersected pegmatites.
	Measures taken to maximise sample recovery and ensure representative nature of the samples.	Drilling in Archean basement was slowed to maximise sample recovery.
	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.	Dry and wet 1m samples were collected in buckets and laid out in 1m piles. Wet samples were laid out in holes to prevent sample loss.
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.	1m samples were laid out in 10m lines. Individual samples were sieved in water and logged on paper log sheets by a qualified geologist. 1m representative samples were collect and stored in 20 compartment plastic chip trays. The laid out chip piles representing the drill holes were photographed. These data are not intended to be used for Mineral Resouce estimation, mining or metallurgical studies.
	Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography.	Logging was primarily qualitative. Each 1m sample was logged and the lithology, colour and mineralogy were described.
		Lithological data for all the holes was recorded in a hard copy format and will be digitised.
	The total length and percentage of the relevant intersections logged.

LITHIUM CONSOLIDATED MINERAL EXPLORATION LTD ACN 612 008 358 Phone : +61 7 3212 6299 Fax : +61 7 3212 6250 Address : Level 10, 110 Mary Street, Brisbane Q 4000

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Criteria	JORC Code explanation	Commentary
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.	Both wet and dry samples were collected in buckets placed under the cyclone. Sample piles were sampled using a hand scoop and an effort was taken to ensure a representative 2-3kg sample was collected from each pile in the case of composite samples.
	Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples.	Field duplicates and a Li-Ta pegmatite standard (Geostats - GTA-02) were used. Blanks were not used
	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.	Field duplicates were collect approximately every 30 samples (approximately 3% frequency) and standards were inserted approximately every 50 samples (approximately 2% frequency).
	Whether sample sizes are appropriate to the grain size of the material being sampled	LCME considers the sample size and sample method appropriate for the grass-roots exploration for lithium bearing pegmatites found in the SE Yilgarn region.
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.	Samples will be assayed at ALS Global Perth for 48 elements via ME-MS61L using a four acid digestion and ICPAES and ICPMS finish. High grade samples will undergo Sodium Peroxide Fusion (FUS-PER02) and ME-ICP89 and ME-MS91 analyses. Both techniques are considered to be total analyses and appropriate for the type of mineralisation.
	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.	No Geophysical tools were used.
	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.	The certified reference material and field duplicate samples performed as expected. The duplicate samples displayed appropriate reproducibility and the certified samples were with tolerance limits. As such sampling was considered suitable and the laboratory results reliable.

LITHIUM CONSOLIDATED MINERAL EXPLORATION LTD ACN 612 008 358 Phone : +61 7 3212 6299 Fax : +61 7 3212 6250 Address : Level 10, 110 Mary Street, Brisbane Q 4000

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Criteria	JORC Code explanation	Commentary
Verification of sampling and assaying	The verification of significant intersections by either independent or alternative company personnel. The use of twinned holes.	NA at this stage.
	Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols.	A digital data base of drill collars, surveys, geology, analytical samples and assays is maintained by Newexco Services Pty Ltd, an independent geological consultancy.
	Discuss any adjustment to assay data.	Where appropriated, Li will be converted to Li2O via the conversion Li2O = Li x 2.153.
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.	Final location of drill holes were located using a hand held Garmin GPS 72h.
	Specification of the grid system used.	All co-ordinates are recorded in GDA 94 datum, MGA 51 Zone.
	Quality and adequacy of topographic control	Drill holes RLs were recorded using a hand held Garmin GPS 72h and verified using the Australian 1 sec SRTM hydrological adjusted DEM and are considered suitable for the current phase of exploration.
Data spacing and distribution	Data spacing for reporting of Exploration Results.	Drilling was carried out on east-west lines with 200m spaced holes. Line spacing varied from 400m up to 1.6km in the different project areas. All the holes were drilled vertically.
	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.	Drilling is suited to grass roots exploration and not deemed appropriate for grade control or to inform a mineral resource estimate.
		Sample compositing was carried out on a lithological basis at 1m increments and where appropriate compositing was done up to a maximum length of 5m.
	Whether sample compositing has been applied.

LITHIUM CONSOLIDATED MINERAL EXPLORATION LTD ACN 612 008 358 Phone : +61 7 3212 6299 Fax : +61 7 3212 6250 Address : Level 10, 110 Mary Street, Brisbane Q 4000

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Criteria	JORC Code explanation	Commentary
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.	The orientation of any pegmatite bodies in the project is not known. Drill lines were orientated perpendicular to the structural trend of the potential host rocks as mapped or interpreted from airborne geophysics. Pegmatites in the region are known to parallel structural trends in the host rocks.
	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.	NA
Sample security	The measures taken to ensure sample security.	LCME drill holes and drill samples were managed by Newexco Services Pty Ltd, an independent geological consultancy. Samples were collected in labelled bags on site, packed in lots of 10 into labelled polyweave bags and the polyweave bags were packed in labelled bulk bags by Newexco staff. The bulk bags were despatched to ALS Global in Perth using StarTrack. A chain of custody using sample sheets, despatch sheets and freight dockets was maintained by Newexco.
		No audits were carried.
Audits or reviews	The results of any audits or reviews 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.	LCME through its 100% ownership of West Resource Ventures (WRV) own 100% of the tenements E 63/1813 (Ten Mile), E 28/2632 (Snomys), E 28/2651 (Cool), E 63/1814 (Bedonia), E 28/2631 (Junction), E 15/1542 (Nawoc) and E63/1826 (Dundas).
	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.	LCME is commencing negotiations for a native title land use agreement with the Ngadju people.
Exploration done by other parties	Acknowledgment and appraisal of exploration by other parties.	Limited historical gold and nickel exploration drilling and soil samples have been recorded in the project areas.

LITHIUM CONSOLIDATED MINERAL EXPLORATION LTD ACN 612 008 358 Phone : +61 7 3212 6299 Fax : +61 7 3212 6250 Address : Level 10, 110 Mary Street, Brisbane Q 4000

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Criteria	JORC Code explanation	Commentary
Geology	Deposit type, geological setting and style of mineralisation.	Li-Ta-Cs (LCT) type pegmatites which may contain spodumene mineralisation are being targeted in the current exploration. These types of pegmatites are often hosted in Archean greenstones and meta-sediments in the region.
Drill hole Information	A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: easting and northing of the drill hole collar elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar dip and azimuth of the hole down hole length and interception depth 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.	Refer to tables A1, A2 and A3 in the ASX announcement dated 16 January 2018.
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.	No weighted averaging was used.
	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.	Drill samples were composited at 1m increments up to a maximum of 5m based on geological logging. Refer Table A3.
		No Metal equivalents were used.
	The assumptions used for any reporting of metal equivalent values should be clearly stated.

LITHIUM CONSOLIDATED MINERAL EXPLORATION LTD ACN 612 008 358 Phone : +61 7 3212 6299 Fax : +61 7 3212 6250 Address : Level 10, 110 Mary Street, Brisbane Q 4000

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Criteria	JORC Code explanation	Commentary
Relationship between mineralisatio n 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’).	Orientation of the pegmatites is unknown at this stage of the exploration program and the relationship of true thickness to down hole lengths is unknown. Down hole lengths are reported in Tables A2 and A3 Section 1 in the ASX announcement dated 16 January 2018.
Diagrams	Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported. These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views.	See Figures 2, 5 and 7 in the ASX announcement date 16 January 2018.
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.	LCME believe the reporting above is comprehensive.
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 current meaningful and material exploration data has been reported.
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.	LCME plan to evaluate the lithological and analytical results of the drilling program once reported by ALS Global and carry out follow-up drilling were appropriate.

LITHIUM CONSOLIDATED MINERAL EXPLORATION LTD ACN 612 008 358 Phone : +61 7 3212 6299 Fax : +61 7 3212 6250 Address : Level 10, 110 Mary Street, Brisbane Q 4000