Drilling to Commence at Rekovac Lithium Borate Project

Balkan Mining and Minerals Ltd (BMM or the Company) (ASX: BMM) is pleased to announce that drilling is to commence on its Rekovac Lithium – Borate Project.

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The site selected for REK_003 is approximately 2.5km ESE from REK_002 where analcime components have been found at surface. Presences of analcime within the lake sediments which indicate permissive depositional environments associated with active volcanism, create conditions for entrapment of volatile elements in concentrated waters. The Mapping program also identified prospective, intercalated, lacustrine sediments comprised chiefly of marlstone, claystone, and siltstone.

Figure 1- Rekovac project geology map

Managing Director, Mr Ross Cotton, commented:

"I am proud of the team to have again delivered this key milestone on time. We are continuing to demonstrate that we are committed to getting on with our work programs in an expedient and cost-efficient manner and I look forward to meeting the team in Serbia tomorrow to assist with the Rekovac drilling.

What is particularly pleasing is our successful engagement with the local community and stakeholders who continue to support BMM, as has been shown by the land access agreement. This is testament to our ongoing environmental, social and corporate governance that are key part of our ongoing strategy."

For further information pls contact:

Ross Cotton

Managing Director

Tel: +61 8 6489 0600

E: Ross.Cotton@balkanmin.com

Media Inquiries

Nick Doherty

White Noise Communications

Tel: +61 400 643 799

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

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