Surface Sampling Commences at Dobrinja and Pranjani Lithium/Borate Projects

Balkan Mining and Minerals Ltd (BMM or the Company) (ASX: BMM) is pleased to announce that the Company has commenced a reconciliation and surface sampling program at the Dobrinja Lithium-Borate Project, located in western Serbia.

HIGHLIGHTS

• Surface sampling and reconciliation program has commenced at Dobrinja
• Once completed, the geological team will move 10km northeast to Pranjani and begin the follow-on program
• The reconciliation and surface sampling program will be followed by a detailed mapping and gravity survey that will aid in the identification of drilling targets

Due to the extensive amount of outcrops, surface sampling is a useful guide in identifying the presence of Neogene strata and will allow the inference of prospective sections.

Once the Dobrinja program is completed, the geological team will move to the Pranjani Project, located 10km to the northeast in a basin that was historically believed to be connected to Dobrinja. A similar scale program will be undertaken at Pranjani.

A gravity survey will follow on competition of the initial programs with the aim of defining basin geometry, relative thickness of the sedimentary sections and steep basement margins, which may suggest faults that serve as zones of migration for lithium boron mineral-bearing fluids.

The surface sampling results will be assessed with mapping information and the geophysical survey interpretation in order to prioritise drill targets.

Managing Director Ross Cotton, commented: "Dobrinja is particularly interesting as it shows a lot of outcropping, which is a good indicator for lithium and borates. We are pleased that we have continued to deliver on our objectives and not have wasted any time on beginning our programs and advancing our projects."

Dobrinja

The Dobrinja license, covering 37.58km2 , is located in western Serbia along trend where lithium– borate Mineral Resources and Ore Reserves have been defined (Rio Tinto, Euro Lithium and Erin Ventures).

The Dobrinja basin is generally elongated in a northwest-southeast direction, controlled by the Neogene tectonic. The targeted lacustrine sedimentary sequence comprises of Lower, Middle and Upper Miocene fine pelitic sediments, marlstone, ash-flow tuffs, oil shale and basal clastic flows.

Surrounding the included basins are rocks that have been mapped as Paleozoic metamorphic rocks, Mesozoic carbonates and Vardar Ophiolites formations. Northwest - southeast trending faults are thought to be major structural controls on basement fracturing and basin development and may also serve as zones of migration for mineral-bearing fluids.

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