Eclipse Metals Quarterly Activities Report and Appendix 5B

Eclipse Metals Ltd (ASX: EPM) (Eclipse or the Company) is pleased to report its activities for the quarter ending 30 September 2022.

• Commencement of maiden drilling and trenching program at Ivigtût and Grønnedal projects in Greenland
• Drilling, designed to follow-up REE targets, expected to be completed in October
• Program commenced following approval from Greenland’s Minerals Licenses and Safety Authority (MLSA).
• Leading European consultancy group to assist the Company with Environmental and Social Impact Assessments for Ivigtût Project.

CORPORATE

• Completion of $2 million placement at price of $0.02 per share.
• Placement proceeds to assist with field activities in Greenland.
• Quotation of EPMOA Options on ASX.
• Eclipse Annual General Meeting to be held on 9 November 2022.

IVIGTÛT PROJECT– GREENLAND

Overview

Eclipse acquired mineral exploration licence MEL2007-45 in Greenland in January 2021. The project area hosts the historic Ivigtût cryolite mine and undeveloped mineral resources. Over 120 years, between 1865 and 1985, the Ivigtût mine produced 3.8 million tonnes of high-grade cryolite for use in the aluminium industry, from the world's largest known minable resource of naturally occurring cryolite.

Ivigtût is located in southwestern Greenland and has a power station and fuel supplies to service this station and local road infrastructure to support mineral exploration. About 5.5km to the northeast of Ivigtûut, the settlement of Kangilinnguit provides a heliport and an active wharf with infrastructure.

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