Arcadia Commences Drilling Program At Its Bitterwasser Lithium Clays Project

Arcadia Minerals Ltd (ASX:AM7,DAX:8OH) (Arcadia), the diversified exploration company targeting a suite of projects aimed at Lithium, Tantalum, Nickel, Copper and Gold in Namibia, is pleased to announce the commencement of a drilling program to potentially expand on the existing JORC Mineral Resource over the Bitterwasser Lithium Clays Project located in Namibia.

HIGHLIGHTS

• Follow-up auger drilling program has commenced on the recently announced Bitterwasser Lithium Clays Project acquisition, which remains subject to shareholder approval
• Initial drilling on a 500m grid spacing consisting of 52 holes, and 12 boreholes for geostatistical analysis, is expected to be completed by January 2022
• Drilling will test extensions of the existing inferred JORC Mineral Resource of 15.1 million tons @ 828ppm Li and 1,79% K, situated at one of the 7 exposed pans in the Bitterwasser Pan District
• 300 kg bulk sample to be taken from drill cores and dispatched to leading European industrial and specialty minerals producer and engineering company Anzaplan (Dorfner Group) who will undertake minerology and metallurgical analysis on the clays from the Bitterwasser Clay Project to study extraction of Lithium from the clays using proprietary technology
• The Company will provide further updates as assay results are received
• Lexrox will self-fund the work program and, subject to the acquisition being approved by shareholders, be reimbursed for costs associated with this program

Arcadia Minerals Ltd (ASX:AM7) (Arcadia or the Company) is pleased to announce the ’y - commencement of a 64-hole hand auger drilling program at the recently announced Bitterwasser Lithium Clay Project in Namibia, which project is the subject of an acquisition that is conditional upon Arcadia shareholders’ approval.

The Bitterwasser Lithium Clay Project currently contains an inferredJ ORC Mineral Resource of15.1 million tons @ 828ppm Li and1, 79%K (at a cut-off grade of 680 ppm Li)1, located in one of seven exposed pans and from an area that represents approximately 6% of the exposed clay pan surfaces. The Bitterwasser Lithium Clay Project forms part of the greater Bitterwasser Lithium-in-Brines-and-Clays Prospect where the potential exists to discover a new province of lithium mineralisation containing sub-surface lithium-in-clay deposits and several lithium-in-brines aquifers.

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