TURNSTONE RESOURCES LTD — Capital/Financing Update 2023

Mar 7, 2023

ASX ANNOUNCEMENT 8 March 2023.

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BULK SAMPLING AND PROCESS DESIGN TEST WORK

• Five-tonne bulk sample taken at 790m depth from historic Bernterode potash area.

• Bernterode shaft located approximately 1500m from South Harz’s flagship Ohmgebirge tenement boundary, sampling area zone only 700m.

• Hartsalz potash seam which produced MOP in historic mining at Bernterode is contiguous with Ohmgebirge deposit.

• Delivers valuable large-scale sample for ongoing Ohmgebirge process design test work and de-risking.

• Demonstrates potential effective ‘brownfield’ status of Ohmgebirge development given proximity toneighbouring shaft and underground infrastructure.

South Harz Potash Limited (ASX:SHP) ( South Harz or the Company ) is pleased to report it has extracted a five-tonne bulk sample from the historic Bernterode area which adjoins its 100%-owned flagship Ohmgebirge Potash development in Thuringia, Germany.

The bulk sample was extracted at approximately 790-800m depth via access through the Bernterode shaft. The extraction area is located approximately 700m from the Ohmgebirge tenement boundary. The Hartsalz potash seam from which the sample was extracted is contiguous with the Ohmgebirge deposit.

Testwork on the sample is now set to be carried out by industry leader K-UTEC, at its local Sondershausen laboratory in the South Harz mining district, and to report back by end of July. This testwork is planned to include grind size optimisation for leach recovery and backfill material design and engineering.

The ability to obtain such a valuable, large-scale mineralisation sample is a direct function of the neighbouring Bernterode shaft underground infrastructure being in excellent geotechnical condition and solely used by owner, NDHE/Deusa, to backfill waste. South Harz is very grateful for the ongoing support of NDHE/Deusa, and its experienced mining staff, for the Ohmgebirge development. This cooperation provides South Harz with the potential to obtain additional bulk samples from Bernterode for further bench and pilot process testing, which will be evaluated once the test work results are confirmed on an as needs basis.

South Harz Managing Director and CEO, Luis da Silva, commented:

“This access, and bulk sampling capability, delivers multiple routes to significantly de-risk the Ohmgebirge development in a way that is simply not achievable for the typical greenfield mining project. In short, it is delivering substantial benefits for South Harz right now, and into the future. My gratitude is extended to our neighbours, NDHE/Deusa, for allowing us to access the continuation of our Ohmgebirge deposit at depth from their facility. Their support for our Ohmgebirge development has been consistent and strong.”

586.1M Ordinary Shares 64.8M Unlisted Options 46.2M Listed Options

CONTACT DETAILS ABN: 64 153 414 852 W: southharzpotash.com ASX Code: SHP E: info@southharzpotash.com ASX Code (Options): SHPO P: +61 (0) 408 447 493 Frankfurt Code: A2DWXX

U13, 6 – 10 Douro Place West Perth WA 6005

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This ASX release has been approved by Managing Director, Luis da Silva.

Investor and media enquiries

Investor and media enquiries
Luis da Silva	Michael Vaughan	Justine James / Matthew Young
Managing Director	Fivemark Partners	Alma PR
South Harz Potash Ltd	+61 422 602 720	+44 203 405 0205
info@southharzpotash.com	michael.vaughan@fivemark.com.au	shp@almapr.co.uk

About South Harz

South Harz Potash (ASX: SHP) ( South Harz ) is a potash exploration and development company with its flagship project located in the South Harz Potash District region of Germany, midway between Frankfurt and Berlin.

The South Harz Project hosts a globally large-scale potash JORC (2012) Mineral Resource estimate of 5 billion tonnes at 10.6% K2O of Inferred resources and 258 million tonnes at 13.5% K2O of Indicated Resources across four wholly-owned project areas located favourably within central Europe.[1] This comprises three perpetual potash mining licences, Ohmgebirge, Ebeleben and Mühlhausen-Nohra, and two potash exploration licences, Küllstedt and Gräfentonna, covering a total area of approximately 659km².

With strong established infrastructure proximate to the key European market, the South Harz Project is well positioned to enable rapid economic development across multiple deposits.

South Harz Potash: Growing a responsible potash business in the heart of Germany

www.southharzpotash.com

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1. Refer to South Harz ASX release dated 12 July 2022 for full Mineral Resource estimate details. In accordance with ASX Listing Rule 5.23, the Company is not aware of any new information or data that materially affects the information included in this release, and the Company confirms that, to the best of its knowledge, all material assumptions and technical parameters underpinning the estimates in these releases continue to apply and have not materially changed.

2. Volumes referred to in red above were the historic numbers extracted