Balkan Quarterly Activities Report December 2021

Balkan Mining and Minerals Ltd (Balkan or the Company) (ASX: BMM) is pleased to present the Company’s quarterly activities report for the December 2021 quarter. The primary focus of the Company’s activities over this period has been the continued exploration efforts at across the Company’s Serbian lithium projects, reviewing complimentary projects as well as the appointment of key personnel and consultants.

HIGHLIGHTS

Balkan Lithium-Borate Assets

• Magnetic and geophysics completed at the Rekovac Lithium-Borate Project allowing the Company to precisely define the targets for follow up drilling¹
  • Gravity survey has identified two major parallel deep-seated faults that may have acted as pathways for mineral-bearing fluids.
  • XRD and SEM sample analyses have confirmed the presence of greigite, an iron-rich magnetic sulphide, which has been found in associated boron deposits.
• Reconnaissance and rock sampling completed at the Dobrinja Lithium-Borate Project.²
• Processing of regional gravity data over the Dobrinja project completed defining basin geometry and thick sedimentary section.³
• The mapping and sampling programs at the Dobrinja Project provided strong evidence of permissive sediments buried by younger sedimentary cover.
• Drill locations are being considered across Rekovac and Dobrinja while the associated access agreements are being finalised.⁴

Corporate

• Pasala Exploration and Mining D.O.O (Pasala) engaged to provide complementary consulting services to the Company as it ramps up its operations in the Balkans.⁵
• Mr Harry Spindler appointed as Chief Financial Officer effective 1 December 2021.⁶

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