Company Awaits Drill Results, Progresses Field Exploration Plans

Perth-based lithium exploration and development company Winsome Resources (ASX:WR1; “Winsome” or “the Company”) is pleased to provide an update on its recently completed exploration drilling program at the Company’s flagship Cancet project in Quebec, Canada.

• Core samples being prepared and delivered to laboratory for assays
• Initial assay results expected within four weeks
• Work underway to identify targets for spring and summer exploration programs
• Field teams appointed to investigate geophysical anomalies, complete field mapping, trenching and gather rock chip/channel samples

The campaign, which included some 2,142m of diamond drilling across 23 holes, was designed to provide infill drilling on known high-grade lithium mineralisation identified in previous exploration1 , as well as to test geological anomalies indicated through various geophysical methods including magnetic surveys.

Winsome expects results from the drill program will help extend the strike length of the lithium mineralisation, and ultimately underpin the Company’s maiden resource estimation and delivery of a scoping study, in turn supporting ongoing strategic partnership end-user discussions.

As previously announced, visible spodumene crystals were detected in the pegmatites and these samples have already been sent to the laboratory for assay to identify if lithium mineralisation is present2 .

Initial geological logging of all core samples was conducted on site near Cancet and all samples were then relocated to the Winsome operations base in the town of Rouyn Noranda for detailed logging and laboratory sample preparation.

The first batch of samples are being cut and expedited for shipment to the SGS laboratory in Lakefield, Ontario for assays, with first results expected to return within four weeks.

In addition to the drilling, a gravity survey was also completed across parts of the Cancet site. Data is currently being processed and will then be overlaid with previously gathered magnetic data and lidar survey data to generate targets for the planned northern summer field exploration program.

While there was still considerable snow on the ground during the drill campaign, it has started to melt and Winsome expects to have field exploration teams on the ground at Cancet in late May/early June.

Two field teams have been commissioned in to conduct the spring and summer exploration program, consisting of a geologist and one or two field assistants in each team, who will spend time investigating the geophysical anomalies, field mapping and taking rock chip samples.

In addition, a separate team will be deployed to Cancet during the summer, at the current site of known mineralisation, to conduct ground stripping to expose more pegmatite and then channel sampling to inform detailed geological mapping of the known lithium mineralisation.

Findings from these activities will be used to generate further drill targets, with the intention of having drill rigs back on site at Cancet in the late summer and autumn.

Winsome Managing Director Chris Evans said: “We are pleased with the progress being made at Cancet and look forward to receiving the assay results from this most recent drill program. In the meantime, we’re busy planning the spring and summer exploration programs and anticipate some busy months ahead as we move towards declaring our maiden resource.”

This announcement is authorised by the Winsome Board of Directors.

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