BMM Receives Exploration Permit for the Gorge Lithium Project

Balkan Mining and Minerals Ltd (ASX: BMM; “BMM” or “the Company”) is pleased to announce receipt of an exploration permit for the Gorge Lithium Project in the Georgia Lake pegmatite district of northern Ontario, approximately 200 km northeast of Thunder Bay. The exploration permit, granted by the Ontario Ministry of Mines, is effective for a period of three years.

HIGHLIGHTS

• Receipt of exploration permit for the Gorge Lithium Project.
• The permit paves the way for the Company’s upcoming maiden drill program.
• Granted by the Ontario Ministry of Mines, the permit is effective for a period of three years.

“BMM is excited to continue working in northern Ontario’s lithium district. The award of this exploration permit allows us to implement a drill program across the exciting targets that our team have identified over the course of mapping, channelling and soil sampling over the past 12 months. We look forward to continuing to engage and collaborate with local First Nations communities throughout the course of the planned work.” – Ross Cotton, Managing Director

The permit paves the way for the Company to begin siteworks for the planned drill program that will focus on the areas of interest identified across the Nelson and Koshman pegmatites1. BMM will update the market in the coming days as further progress is made with respect to the program.

For further information please contact:

Ross Cotton Managing Director T: +61 8 6109 6684

E: Ross.Cotton@balkanmin.com

Authorised for release by the Managing Director of Balkan Mining and Minerals Limited

-ENDS-

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