VOLTAIC STRATEGIC RESOURCES LTD — Capital/Financing Update 2023

Sep 12, 2023

Voltaic Strategic Resources Limited ASX: VSR ABN 66 138 145 114 +61 8 6245 9821 Suite 2, 38 Colin Street info@voltaicresources.com West Perth WA 6005 voltaicresources.com

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ASX Release

13 September 2023

Phase 3 drill program complete at Ti Tree lithium project.

Highlights

‘Phase 3’ drill campaign complete at the Company’s 100%-owned Ti Tree Project, Gascoyne region, Western Australia.

• ~3,100m of reverse circulation (RC) drilling completed at ‘Morpheus’ and ‘Akira’ prospects for 25 drill holes (DHs) to test near surface extents of outcropping pegmatites.

• Down-dip, deeper drilling also completed at ‘Andrada’ to delineate bounding lithological contacts and to examine untested lithium-caesium-tantalum (LCT) potential plunge target areas.

• Several thick and stacked pegmatites intercepted at all prospects during the phase-3 program[1] .

• Morpheus & Akira are interpreted to reside in the ‘Goldilocks[2] ’ zone, focusing on highly prospective Leake Spring Metamorphic (LSM) pelitic schists where many significant intersections have been identified by Delta Lithium Ltd (ASX:DLI) at the neighbouring Yinnietharra Lithium Project[3] .

• Morpheus: maximum pegmatite width intercepted: 34m (ANDRC047)

• o Akira: maximum pegmatite width intercepted: 15m (ANDRC055) o Andrada: maximum pegmatite width intercepted: 117m (ANDRC043)

• First round of assays from phase-3 expected mid-October.

Voltaic Strategic Resources Ltd (ASX:VSR) (‘Voltaic’ or the ‘Company’) has successfully completed a third phase of drilling at the Ti Tree lithium project focusing on the ‘Morpheus’ and ‘Akira’ prospects. The program, which achieved a total of 25 holes for 3,095 metres, was designed to test several new targets across the southern end of the extensive 80km+ 'Volta' corridor, as well as the down-dip continuity and potential bounding lithological contacts for select pegmatites previously drilled at ‘Andrada’ (see Figure 1 ).

Numerous thick and stacked pegmatites were again intercepted in this drill program confirming their widespread presence across Ti Tree. Additionally, target generation continues at the project with geological mapping, rock chip sampling and soil surveys underway, all of which are designed to quickly assess target areas and systematically generate additional drill prospects.

1 Cautionary Note: The identification of pegmatites in the drilling completed to date does not imply the presence of lithium mineralisation. The presence of any lithium mineralisation will be determined by laboratory analyses.

2 LCT pegmatites are generally emplaced ~0-10 km of fertile granites (“goldilocks” zone). At Ti Tree, our current modelling indicates that this could be 0.5 – 5 km. Reference: Cerny, P, 1989, 'Exploration strategy and methods for pegmatite deposits of tantalum ', In Lanthanides, Tantalum, and Niobium, SpringerVerlag, New York, pp. 274-302.

3 See ASX:DLI release dated 04/07/2023, ‘ Further Exceptional Drill Results from Yinnietharra ’.

Voltaic Chief Executive Officer Michael Walshe said the Company is rapidly advancing through the systematic exploration program at Ti Tree and are gaining greater geological understanding of the major pegmatite system emerging at the project and the controls on mineralisation.

“We have drilled deeper in this third drill phase compared to previous campaigns allowing us to thoroughly examine the extents of the pegmatite swarms at each prospect and potentially vector to mineralisation at depth and under cover. Additionally, mapping has identified several new areas of outcropping pegmatite swarms which we will soon follow up with soil surveying and potential future drilling ” Mr Walshe said.

“Our next focus area will be Ti Tree (North) which is proximal to Delta Lithium’s Jameson prospect. Investors can expect steady news flow from the Ti Tree project over the coming months, with regular drilling updates and assay results to be released as available as we systematically advance through testing of the 18 priority target areas within the large tenement package” he said.

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----- Start of picture text -----

Ti Tree NORTH
8 x LCT target areas
>100 mapped pegmatites
E09/2522 Voltaic prospect
Voltaic tenure
Yinnietharra Li Project Delta Li tenure
Volta Corridor
` N
5km
7
KEY PROSPECTS
Jameson Prospect 1 Andrada
2 Morpheus
3 Akira
E09/2503 E09/2470
4 6 4 Lewis
2
Goldilocks zone 1 3 5 5 Trinity
(Volta Corridor) 6 Lithos
Most prospective areas 7 Ceres
occur 0 - 5 km from edge of
fertile granite extensions Ti Tree SOUTH
(Thirty Three Supersuite).
10 x LCT target areas
>300 mapped pegmatites
----- End of picture text -----

Figure 1. Ti Tree project map. Neighbouring Delta Lithium’s Yinnietharra tenure also shown.

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PROSPECT SUMMARY

Morpheus

• A combined 11 drill holes for 1498m were drilled at Morpheus targeting pegmatites occurring within enveloping schists interpreted to be the prospective Leake Spring Metamorphic (LSM) pelitic schists. The LSM unit hosts all mineralised pegmatites identified to date by Delta Lithium Ltd (ASX:DLI) at the neighbouring Yinnietharra Lithium Project.

• Multiple stacked pegmatites are evident throughout Morpheus, with individual widths varying from 1m through to 34m (not TW). Swarms with up to six individual quartz-feldsparmica (+/- tourmaline) pegmatites were observed.

• Several priority targets remain untested due to accessibility, particularly east of Camel Hill.

• Assays, favourable silicification of enveloping schists, along with structural mapping is aiding vectoring to potential mineralised zones within anomalous LCT targeted drilling.

• Further regional surface exploration work continues along the LSM extents, to identify and refine further LCT drill targets.

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Figure 2. RC drilling at the Morpheus prospect area

Akira

• A combined two (2) drill holes for 222m were drilled at Akira thus far, targeting pegmatites occurring within enveloping schists also interpreted to be the prospective LSM.

• Two stacked pegmatite zones comprised of quartz-feldspar-mica have been identified, with individual widths varying from 1m through to 15m (not TW).

• A considerable portion of LSM requires follow up work in order to systematically test interpreted LCT anomalism.

• Assays along with structural mapping of enveloping schists will aid vectoring to potential mineralised zones within anomalous LCT interpreted bounds.

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Figure 3. Aerial photo of Akira prospect area

Andrada

• A combined 8 drill holes for 1080m were drilled at Andrada during phase-3 which aimed to test pegmatite zones along strike of outcrops with LCT anomalism and define bounding lithological contacts from previous phases of drilling ending in pegmatites.

• A substantial dual pegmatite intercept in ANDRC043 of 51m and 117m (not TW) respectively of quartz-feldspar-mica and associated tourmalinite, warrants mention as the most significant pegmatoid width to date drilled at the Project.

General

• Assays from both phases 2 & 3 are expected to flow from mid-October.

Upcoming Milestones at Ti Tree Project

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----- Start of picture text -----

Q3 2023 Q4 2023 Q1 2024
Deeper
Drilling
@ Andrada
Maiden @ Morpheus Potential
Regional heritage
mapping Update Survey TTN XMAS
Soil Surveys
@Morpheus@Akira MUSTERING Drilling results Drilling results
Jan
2024
1/9 1/10 1/11 1/12 1/1 1/2 1/3
Aug
Feb
Aug-232023Remaining Reconnaissance Soil Surveys & More Drilling TTS at Potential granting of TTN Ti Tree North Drilling at Mar-242024
Phase 1 Ti Tree North
Assays
Photogrammetry Aeromag &
Survey radiometrics
TTS & TTN
----- End of picture text -----

Figure 4. Three (3) quarter lookahead at Ti Tree.

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Release authorised by the Board of Voltaic Strategic Resources Ltd.

For more information, please contact:

MICHAEL WALSHE GARETH QUINN Chief Executive Officer Media and Investor Relations Phone: +61 8 6245 9821 Phone +61 417 711 108 michael.walshe@voltaicresources.com gareth@republicpr.com.au

Competent Person Statement

The information in this announcement related to Exploration Results is based on and fairly represents information compiled by Mr Claudio Sheriff-Zegers. Mr Sheriff-Zegers is employed as an Exploration Manager for Voltaic Strategic Resources Ltd and is a member of the Australasian Institute of Mining and Metallurgy. He 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 Joint Ore Reserves Committee (JORC) Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves. He consents to the inclusion in this announcement of the matters based on information in the form and context in which they appear.

Forward-Looking Statements

This announcement may contain forward-looking statements involving several risks and uncertainties. These forward-looking statements are expressed in good faith and believed to have a reasonable basis. These statements reflect current expectations, intentions or strategies regarding the future and assumptions based on currently available information. Should one or more of the risks or uncertainties materialise, or underlying assumptions prove incorrect, actual results may vary from the expectations, intentions and strategies described in this announcement. No obligation is assumed to update statements if these beliefs, opinions, and estimates should change or to reflect other future development. Furthermore, this announcement contains forward-looking statements which may be identified by words such as “prospective”, "potential", "believes", "estimates", "expects', "intends", "may", "will", "would", "could", or "should" and other similar words that involve risks and uncertainties. These statements are based on several assumptions regarding future events and actions that, as at the date of this announcement, are expected to take place. Such forwardlooking statements are not guarantees of future performance and involve known and unknown risks, uncertainties, assumptions, and other important factors, many of which are beyond the control of the Company, the Directors and management of the Company. These and other factors could cause actual results to differ materially from those expressed in any forward-looking statements. The Company cannot and does not give assurances that the results, performance, or achievements expressed or implied in the forward-looking statements contained in this announcement will actually occur and investors are cautioned not to place undue reliance on these forward-looking statements.

About Voltaic Strategic Resources

5

Voltaic Strategic Resources Limited explore for the next generation of mines that will produce the metals required for a cleaner, more sustainable future where transport is fully electrified, and renewable energy represents a greater share of the global energy mix.

The company has a strategically located critical metals portfolio led by lithium, rare earths, base metals, and gold across two of the world’s most established mining jurisdictions: Western Australia & Nevada, USA.

Voltaic is led by an accomplished corporate and technical team with extensive experience in REEs, lithium and other critical minerals, and a strong skillset in both geology and processing / metallurgy.

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Gascoyne Region Western Australia

Meekatharra Region Western Australia

Stillwater Range Nevada, USA

• Emerging critical minerals province (REE, Li, Ni-Cu-Co-PGE).

• Active neighbours in the region.

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• Established gold district with two vanadium development projects.

• Active neighbours in the region.

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• Ni-Cu-Co project containing formerly producing Co mine.

• Global Energy Metals adjacent.

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Appendix 1: Supplementary Information

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Phase 3 RC drill hole
Phase 1/2 RC drill hole
Leake Spring Met. Pelitic Schist
Pegmatite
Pegmatite
swarms
Morpheus
Lewis Pegmatite
swarms
Andrada Akira
Pegmatite
swarms
Pegmatite Pegmatite
swarmsswarms
----- End of picture text -----

Figure 5. Ti Tree (South) drill map plan with regional geology & mapped pegmatites shown.

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----- Start of picture text -----

Stanley
Yinnietharra 1,500m planned drilling
(Malinda) (DLI) Target Depth: ~150-250m VSR Tenement
LCT Prospect
JBG Lithos GEOLOGY
Thirty-Three Supersuite Granite
Schist / Sediments
Mafic Intrusions
Lewis
E09/2503
(granted) 750m planned drilling
Target Depth: ~200m Morpheus
E09/2470
Johan 750m planned drilling
Target Depth: ~200m (application)
Trinity
1,500m planned drilling
Target Depth: ~150-250m
Andrada a
Andrada b Akira
750m planned drilling 1,250m planned drilling 750m planned drilling
Target Depth: 150 – 250m Target Depth: 150 – 250m Target Depth: ~200m
----- End of picture text -----

Figure 6. Ti Tree (South) regional prospects with planned phase 3 & 4 drill programs outlined.

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----- Start of picture text -----

Davy
E09/2522
Bunsen
(application)
VSR Tenement
Vera
LCT Prospect
GEOLOGY
Thirty-Three Supersuite Granite
Schist / Sediments
Mafic Intrusions
Peace
August
Grace
Yinnietharra
Yinnietharra (Malinda) (DLI)
Jameson Prospect
(DLI) April
Tantalus
----- End of picture text -----

Figure 7. Ti Tree (North) regional prospects

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Table 1. Ti Tree South Phase 3 Drilling – Significant Pegmatite Intercepts (Morpheus)

Prospect	Hole ID	Depth	Pegmatite intercept(s)	Intercept **width **	Comment
Morpheus	ANDRC034	74	21m	1	Stackedpegmatite
			24 - 25m	2	24-25m;quartz-mica core; within envelopingschists
			33 - 34m	2	33-34m;quartz-mica core; within envelopingschists
			53 - 56m	4	Quartzite-pegmatite;garnet bearing; within envelopingschists
	ANDRC035	60	22m	1	Clayrich pegmatite
			25 - 26m	2	Fdsp-quartz pegmatite
	ANDRC036	84	16 - 21m	6	Quartz-fdsp rich pegmatite ; within enveloping schists
			30 - 36m	7	Quartz-fdsp rich pegmatite ; within enveloping schists
			55 - 58m	4	Quartz-fdsp-mica pegmatite ; within enveloping silicified schists
			65 - 66m	2	Mica rich pegmatite ; within enveloping schists
			68m	1	Quartz-fdsp trace tourmaline; within enveloping schists
			74 - 76m	3	Quartz vein or pos quartz rich pegmatite within enveloping silicified schists
	ANDRC037	162	96 - 110m	15	Quartz-fdsp-micapegmatite ; within envelopingsilicified schists
	ANDRC038	110	33 - 42m	10	Stacked peg. Quartz-fdsp, minor mica, translucent vqcore; within envelopingschists
			49 - 62m	14	Stackedpegmatitequartz-fdsp, mica, tracegarnet & tourmaline; within envelopingschists
			78 - 79m	2	Quartz-fdsp pegmatite ; within envelopingsilicified schists
			82 - 83m	2	Quartz-fdspminor micapegmatite ; tourmalines, within envelopingsilicified schists
			108 - 110m	3	Vqs; 1% sulphs End of Hole (EOH)
	ANDRC039	108	8 - 11m	4	Quartz-fdsp pegmatite
			20 - 34m	15	Quartz-fdsp minor tourmaline pegmatite
			54 - 58m	5	Quartz-fdsp-minor mica pegmatite , within enveloping silicified schists
	ANDRC040	130	36 -44m	9	Quartz rich minor fdsp; vq, within enveloping schists
			68 - 70m	3	Quartz-fdsp-minor mica pegmatite , within enveloping silicified schists
			89m	1	Quartz vein
			106m	1	Quartz-fdsp-minor mica pegmatite , within envelopingsilicified schists
			121 - 124m	4	Quartz-fdsp-minor mica pegmatite , within envelopingsilicified schists
	ANDRC047	180	81 - 114m	34	Quartz-fdspminor micapegmatite , within envelopingsilicified schists
			120 - 121	2	Quartz-fdsp minor mica pegmatite
			125 - 126m	2	Quartz-fdspminor micapegmatite
	ANDRC048	180	72m 76 -78m 80 - 82m 116 - 122m 134m 154m 163 - 164m	1	Quartz-fdsp pegmatite
				3	Quartz-fdsp pegmatite , vq
				3	Quartz-fdsp pegmatite
				7	Quartz-fdsp pegmatite
				1	Quartz-fdsp pegmatite
				1	Quartz-fdsp pegmatite
				2	Quartz-fdsp minor mica pegmatite
	ANDRC049	200	79 - 80m 111 - 113m 121m 170 - 171m 200m	2	Quartz-fdsp pegmatite , within envelopingschists
				3	Quartz-fdsp trace tourmaline pegmatite , within envelopingsilicified schists
				1	Quartz-fdsp pegmatite
				2	Quartz vein
				1	Quartz-fdsp pegmatite atite EOH
	ANDRC050	210	71m 79m 86 - 96m 115 - 144m 171 - 173m	1	Quartz-fdsp pegmatite
				1	Quartz-fdsp pegmatite
				11	Quartz-fdsp pegmatite , within enveloping silicified schists
				30	Quartz-fdsp minor mica & tourmalines pegmatite , within enveloping silicified schists
				3	Quartz-fdsp minor mica & tourmalines pegmatite

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Table 2. Ti Tree South Phase 3 Drilling – Significant Pegmatite Intercepts (Akira, Andrada, Lewis)

Prospect	Hole ID	Depth	Pegmatite intercept(s)	Intercept **width **	Comment
Akira	ANDRC055	112	48 - 62m	15	Quartz-rich fdsp-mica pegm within enveloping schists; 50-55m extremely cleansilicavq
			78m	1	Mica schist
	ANDRC056	110	26 - 29m	4	Quartz-fdsp-mica pegm within enveloping schists
			70 - 71m	2	Quartz-fdsp-mica pegm within enveloping schists
Andrada	ANDRC043	228	36 - 86m	51	Quartz-fdsp-mica pegm; granitic/tourmalinite contacts
			105 - 221m	117	Quartz-fdsp-mica pegm trace tourmaline; tourmalinite contacts
	ANDRC044	200	1 - 10m	10	Fdsp-quartz-mica pegm; granitic contact
	ANDRC045	160	1 - 11m	11	Quartz-fdsp-mica-tourm pegm;
			89 - 92m	4	Quartz-fdsp-mica pegm
			96 - 98m	3	Quartz-fdsp-mica pegm
	ANDRC046	160	1 -59m	59	Quartz-fdsp-mica-tourm pegm
			93 - 109m	17	Quartz-fdsp-mica-tourm pegm
	ANDRC051	70	59 - 61m	3	Quartz-fdsp pegm
	ANDRC052	120	80 - 81	2	Quartz-fdsp pegm
			107 - 108m	2	Quartz-fdsp pegm
			113 - 114m	2	Quartz-fdsp pegm
	ANDRC057	100	9 - 10m	2	Quartz-fdsp-tourmaline pegm
			19 - 20m	2	Quartz-fdsp-mica pegm
			65 - 66m	2	Quartz-fdsp pegm
	ANDRC032	70	NSI		NSI
Lewis	ANDRC033	70	NSI		NSI
	ANDRC041	80	NSI		NSI
	ANDRC042	75	NSI		NSI

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Table 3. Ti Tree South Phase 3 Drilling – Collars

Prospect	Hole ID	Easting GDA_94	Northing GDA_94	RL (m)	Mag Azimuth (O)	**Dip (O) **	Depth (m)	Date started	Date completed
	ANDRC034	437789	7280154	524	270	-60	74	13/08/23	13/08/23
rpheus	ANDRC035	438125	7279872	524	270	-60	60	13/08/23	14/08/23
	ANDRC036	438129	7279785	524	270	-60	84	14/08/23	14/08/23
	ANDRC037	437828	7280157	524	270	-60	162	14/08/23	14/08/23
	ANDRC038	437806	7280117	524	270	-60	110	14/08/23	14/08/23
	ANDRC039	437701	7279792	524	260	-60	108	15/08/23	15/08/23
Mo	ANDRC040	437713	7279753	524	270	-60	130	15/08/23	15/08/23
	ANDRC047	437805	7280684	524	250	-60	180	21/08/23	21/08/23
	ANDRC048	437741	7279668	524	280	-60	180	21/08/23	22/08/23
	ANDRC049	437830	7280612	524	250	-60	200	22/08/23	22/08/23
	ANDRC050	437733	7279588	524	280	-60	210	23/08/23	23/08/23
Akira	ANDRC055	440388	7276537	522	60	-60	112	25/08/23	25/08/23
	ANDRC056	440401	7276503	522	60	-60	110	25/08/23	25/08/23
	ANDRC043	436022	7277093	524	250	-60	228	16/08/23	19/08/23
	ANDRC044	436076	7276995	524	260	-60	200	19/08/23	19/08/23
	ANDRC045	436272	7276069	521	80	-60	160	20/08/23	20/08/23
Andrada	ANDRC046	436274	7276111	521	80	-60	160	20/08/23	21/08/23
	ANDRC051	437855	7276502	524	300	-60	70	24/08/23	24/08/23
	ANDRC052	437479	7275789	524	280	-60	120	24/08/23	24/08/23
	ANDRC053	437317	7275693	524	0	-90	42	24/08/23	24/08/23
	ANDRC057	437830	7276502	524	60	-60	100	25/08/23	25/08/23
	ANDRC032	436741	7278933	524	290	-60	70	13/08/23	13/08/23
Lewis	ANDRC033	436757	7278965	524	290	-60	70	13/08/23	13/08/23
	ANDRC041	436600	7278597	524	280	-60	80	16/08/23	16/08/23
	ANDRC042	436604	7278640	524	280	-60	75	16/08/23	16/08/23

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Appendix 2 JORC Tables

Section 1 Sampling Techniques and Data

Section 1 Sampling Techniques and Data	Section 1 Sampling Techniques and Data	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.		 No drill assays are presented in this update.  RC drill samples were collected at 1m intervals and composited to 4m lengths for analysis. The 4m composite or 1m sample (where submitted) will be crushed and a sub-fraction obtained for pulverisation.  Drillholes were located using hand-held GPS.  Sampling was carried out under Voltaic Strategic Resources Ltd protocols and QAQC procedures as per current industry practice.  RC drilling was used to obtain 1m samples collected through a splitter into buckets and placed in bags as 1m samples, in rows of 20.  Sample quality was supervised with any sample loss or moisture recorded.  Composite samples were collected with a tube spear to generate 4m composite samples.  The 2-3 kg (4 m composite) samples will be dispatched to LabWest laboratories in Perth.  All samples will be analysed using Microwave digest (MD), Inductively Coupled Plasma Mass Spectrometry and Inductively Coupled Plasma (ICP) Mass Spectrometry (MS) and Optical Emission Spectrometry (OES) to finish. 62 element analysis by ICP-MS/OES.
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).		 RC drilling  For phase 1, the drilling contractor was AAC Pty Ltd, used a 4inch rod string and RC hammer. For Phase 2 Bartlett Drilling Pty Ltd were employed who used a 4inch rod string and RC hammer. Phase 3 KTE Mining Services Pty Ltd were employed who used a 4inch rod string and RC hammer.  Drillholes were drilled at-60°dip
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 & grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material.		 Sample quality was recorded.  Sample recoveries were visually estimated and recorded and generally high.  The drill cyclone was cleaned between rod changes and at the end of each hole, to minimise contamination.
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.		 All holes were logged geologically by Company geologists, using Company logging codes.  Logging is both qualitative and quantitative in nature, and includes lithology, mineralogy, mineralisation, weathering, & colour.  Photographs taken of the drill chips for each drillhole and stored in a database.  All drillholes were logged in full.  In relation to the disclosure of visual mineralisation (if applicable herein), the Company cautions that visual estimates of mineral abundance should never be considered a proxy or substitute for laboratory analysis. Laboratory assay results are required to determine the widths and grade of the visible mineralisation (if reported) in preliminary geological logging.
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		 Current sampling includes comprehensive and industry standard QAQC inclusive of split and duplicate samples, and applicable and representative standards for lithium.  Samples were collected at 1m intervals by a rig mounted cyclone. pXRF Analysis pXRF analysis of soil samples is deemed fit for purpose as a preliminary exploration screening technique. pXRF provides a spot readingon samplepiles with variablegrain sizes and states of homogenisation. Highgrade results

13

Criteria	JORC Code explanation	Commentary
	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.	were repeated at multiple locations to confirm repeatability. The competent person considers this acceptable within the context of reporting preliminary exploration results.
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.	 No lab assays reported herein.  pXRF screening of drill samples and soil points preliminary analysis is obtained with an Olympus Vanta and Niton XL5 portable XRF respectively ‒ NOTE 1: pXRF (portable x-ray fluorescence) assay results are semi-quantitative only. ‒ NOTE 2: pXRF – Only a selection of LCT pathfinder elements are capable of being analysed with pXRF instrumentation: Rb, Cs, Ta, K
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.	 Analytical QC is monitored by the laboratory using standards, blanks and repeat assays.  Independent standards were submitted by the Company at a rate of 1:20 samples.  Independent field duplicates were included through selective zones of expected mineralisation, and obtained utilising a spear method.  Lithium element analyses were originally reported in elemental form but have been converted to relevant oxide concentrations as per industry standards Element Oxide Conversion Factor EquivalentOxide Li 2.153 Li2O
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.	 Drill collar locations were surveyed using a handheld GPS using the UTM coordinate system, with an accuracy of +/- 5m  Map coordinates: all recorded in MGA Zone 50 GDA
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.	 Drill spacing is suitable for reporting of exploration results.  Drill spacing is not suitable for Mineral Resource estimation.  Regional soil pXRF survey was undertaken on a wide space 200 x 80m grid.
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.  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.	 Drill planning was undertaken at a perpendicular angle to the targeted lithological unit.  Sampling is regarded to be unbiased with respect to the orientation of the lithologies.
Sample security	 The measures taken to ensure sample security.	 Samples are given individual samples numbers for tracking. The sample chain of custody is overseen by the Company’s Exploration Manager. Samples were transported in secure sealed bags to the laboratory  Sample security and integrity is in place to industry standards
Audits or reviews	 The results of any audits or reviews of sampling techniques and data.	 The sampling techniques and analytical data are monitored by the Company’s geologists.  External audits of the data have not been completed.

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Section 2 Reporting of Exploration Results

Section 2 Reporting of Exploration Results	Section 2 Reporting of Exploration Results	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.	 The project area is located approximately 100km northeast of the Gascoyne Junction and 250km east of Carnarvon.  The Ti Tree project comprises one granted Exploration Licence, E09/2503, and two Exploration Licence Applications: E09/2470 and E09/2522. All activities referred to in this announcement pertain to E09/2503  All the tenements are in good standing with no known impediments.
Exploration done by other parties	 Acknowledgment and appraisal of exploration by other parties.	 Numerous exploration campaigns have been completed in the general area since the early 1970’s focusing predominantly on uranium and diamonds. ‒ Historical exploration activity has been extensive throughout the region occurring during four (4) main phases (WAMEX Report 114263); 1970’s (uranium focus); 1980’s (largely base metals plus lesser uranium); 1990’s (base metals); and 2000’s (uranium with minor work on other commodities). Limited exploration to determine the potential for gemstones, Industrial minerals (mica & tourmaline) & rare earths within pegmatites within the Gascoyne Complex has also been undertaken. Although not on Voltaic’s tenement, drilling in the area has largely been restricted to the 1970’s & 1980's, with AGIP Nucleare conducting extensive drilling within and beyond the Mortimer Hills region. Despite the extensive exploration history, reliability of the data (location and analysis QA/QC information) is equivocal, being limited to hand drafted maps (using local grids), and frequently absent assay data (WAMEX Report 114635). Some more significant and relevant exploration work is outlined below. ‒ Noranda Australia Ltd (1972-1974): focussed on the eastern side of Voltaic’s ground, exploration followed up on an earlier airborne radiometry survey, and included reconnaissance ground radiometry over 1.5-line kilometres, detailed ground radiometry over 2.5-line kilometres and the collection of 112 soil samples that were subsequently analysed for uranium (poor results). Groundwork observed concentration of uranium in silica (silcrete) capped clayey soil profile developed above weathered granite/gneiss. The silcrete cap was observed to mask the radiometric anomaly with best readings restricted to exposed and eroded margins. Anomalous results were returned by “green clays” in the regolith profile with results up to 1,200 cps and 1,026 ppm uranium. Nine auger drillholes were subsequently completed to 3m depth, several of them intersecting carnotite in the subsurface soil profile. Approximately twenty (20) occurrences of secondary carnotite mineralisation were in the Mt Phillips and Glenburgh 1:250,000 map sheet areas, albeit south of Voltaic’s ground. Occurrences were normally found at the contact of the calcrete with the underlying basement and below the silcrete capping when present (WAMEX Report 124242). ‒ Two (2) granite-associated targets are described as located within E 09/2503, with primary uranium mineralisation of possible gummite, pitchblende and euxenite identified in beryl and tourmaline bearing pegmatite (WAMEX Report 124242). Secondary mineralisation was associated with ferruginous weathering and gossans developed in association with these pegmatites. Two iron oxide veins were further located on a pegmatite margin that returned maximum surface counts of around 500 to 1,600 cps, with a sample returning 803 ppm uranium. The westernmost target averaged around 170 cps over leached and mineralised granite (WAMEX Report 124242). ‒ From 1976-78, more detailed work was completed including detailed ground magnetometry, trenching, geological mapping and 110-line kilometres of ground radiometry. Percussion drilling comprised 6 holes for a total of 518 metres to the east of E 09/2503, with a quartz limonite vein with readings of more than 500 cps from the ground radiometry, returned 95 cps in the top one metre of the hole (WAMEX Report 106018). Some of the drilling confirmed the presence of geochemically anomalous uranium in pegmatite, with results up to 330 cps and 120 ppm Uranium, and mineralisation was present in a quartz vein associated with a dolerite intrusive (WAMEX Report 7598). ‒ Whim Creek Consolidated NL (1980 - 1982): focus was on exploration for scheelite skarns over an area that covered part of the western portion of the current tenement area and toward the west. Work included geological mapping, stream sediment geochemistry with the collection of 68 samples and rock

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Criteria	JORC Code explanation	Commentary
		geochemistry. Stream sediment samples appear only to have been subjected to scheelite grain counts and results were at threshold levels. Two rock chip samples returned 3.7% and 0.7% W respectively (WAMEX Report 239038), with tungsten mineralisation considered to be poddy and not of economic interest. ‒ Geographe Resources Exploration (1997 – 1998): work included acquisition of aero magnetometry data and the collection of 58 BLEG stream sediment samples (5kg <2 mm). Gold and base metals were being targeted, and U was included as one of the suites of 12 elements that were analysed. All samples returned less than the detection limit of 0.1 ppb except for two samples on a single drainage that contained 0.6 ppb and 0.3 ppb U, respectively (WAMEX Report 55760). ‒ More recent exploration 2006 - 2017 (RiverRock Energy Ltd, Dynasty Metals, Glengarry Resources, Zeus Resources and Segue Resources) included 69 rock chip samples collected over an area contiguous with E09/2503 and extending along trend to the southeast, but along with stream sediment sampling results were spurious (WAMEX Reports 76652, 66179 & 94734). ‒ Most recently, Arrow Minerals (2011-2020) undertook stream sediment sampling (133 samples), rock chip sampling (11 samples) over a portion of the tenement area. The stream sediment survey was carried out to test a suite of intrusive rocks that had previously been identified as a fertile and fractionated peraluminous leaucratic intrusions with LCT pegmatites. Samples consisted of 50-150 grams of -80 mesh (- 177 micron) material from secondary and tertiary streams on a 1-3 samples per square kilometre basis. All samples were submitted to ALS Laboratories in Perth and analysed for 47 elements by technique ME- MS61L which is a 4-acid digest with an ICPMS and ICPAES finish (WAMEX Report 124242). ‒ A strong correlation was identified amongst the LCT Pegmatite pathfinder elements (Li-Cs-Ta + Be, Rb, Nb, Sn), successfully identifying several multi-point anomalies. Consulting geochemist Dr. N Brand concluded that these results supported the tenement’s potential to host an LCT pegmatite. Despite that conclusion, the ground was surrendered in 2020 (WAMEX Report 124242).
Geology	 Deposit type, geological setting and style of mineralisation.	 The project area has historically been considered prospective for unconformity vein style uranium, although it equally considered prospective for rare earth element (REE) mineralisation hosted in iron-rich carbonatite dykes or intrusions, or lithium-caesium-tantalum (LCT) pegmatites.  The project area encompasses a portion of the Gascoyne Province of the Capricorn Orogen. This geological belt is positioned between the Archaean Yilgarn Craton to the south, and the Archaean Pilbara Craton to the north, and largely consists of a suite of Archaean to Proterozoic gneisses, granitic and metasedimentary rocks.  The tenements lie astride the contact between a tight WNW trending syncline of Meso Proterozoic age rocks of the Bangemall Basin, known as the Ti Tree Syncline, and metamorphic rocks of the Gascoyne Complex. Bangemall Group sediments preserved in the syncline include the basal Irregully Dolomite, overlain by black and grey siltstone and shale of the Jillawarra Formation. They are intruded by thick dolerite sills. Rocks immediately underlying the Bangemall Group rocks consist of phyllite, meta conglomerate and meta sandstone of the Mt James subgroup.  Within the Ti Tree project, historical exploration efforts have identified several anomalous uranium and potential LCT pegmatite samples. The status of these anomalies including the scale and exact location of the samples has not yet been confirmed. The ground truthing of the anomalies remains a priority prior to significant exploration activities.  The project is within a prospective corridor of pegmatites where a recent exploration effort on within and adjacent to the Thirty-Three Supersuite granites on adjacent tenements has identified the presence of highly anomalous Li and Ta from geochemical analysis, geophysical & hyperspectral surveys, and drilling.
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	 Drill collar and survey data, along with various respective metadatareported in Appendix 1 above.

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Criteria	JORC Code explanation	Commentary
	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 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 should be shown in detail.  The assumptions used for any reporting of metal equivalent values should be clearly stated.	 No assays reported herein.
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’).	 No assays or mineralisation reported herein.
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.	 Refer to figures in this announcement with sections and map plans created using MicroMine and Mapinfo software respectively.
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.	 No inference to economic mineralisation has been stated.  No assays reported herein.
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 of the relevant data has been included in this 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.	 On-going field reconnaissance exploration in the project area continues and is a high priority for the Company.  Exploration is likely to include further lithological and structural mapping, rockchip sampling, acquisition of high-resolution geophysical data and arial drone imagery to assist geological interpretation, target identification, pXRF soil sampling campaigns and drilling.

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