eMetals: Quarterly Activities Report to 31 December 2020

The Directors of eMetals Limited (ASX:EMT)(eMetals)(Company) are pleased submit the Quarterly Activities Report and Appendix 5B for the quarter ending 31 December 2020.

HIGHLIGHTS

• Rock chip samples have identified a further four priority targets for Rare Metals inclusive of the Panjshir Prospect where extreme results for Lithium, Rubidium, Caesium and Beryllium include 2.98% Li2O, 1.24% Rb2O, 0.155% Cs2O and 1.35% BeO.

• A new 3.4 kilometer long Ni-Cu-Co-PGE anomaly has been defined in soil sampling at the Mughal Prospect where soil sampling has returned significant results of up to 0.15% Ni, 240ppm Cu, 380ppm Co and 114ppb PGE’s approximately 5 kilometres west of (and in the same ultramafic sequence as) historical tenement intercepts of 8m @ 0.72% Ni, 0.13% Co and 26ppb PGE’s from 11m and 8m @ 1.0% Ni, 0.1% Co, 30ppb PGE’s from 26m1,2.

• Rock chip sampling at Poona has identified a large 23km long and 200-500m wide intrusion that contains highly anomalous nickel, copper, cobalt and platinum group elements 0.12% Ni, 277ppm Cu, 167ppm Co, 47 ppb Au + Pt + Pd.

• Significant tantalite potential identified at The Raj Prospect with results of up to 0.1% Ta2O5 in rock chips. In-fill sampling and drill planning completed.

• Application lodged for highly prospective Codra Creek exploration license which contains stream sediment anomalies of up to 0.16% La and >500ppm Ce2. Importantly the assay method used by the previous explorer had an upper detection limit of 500ppm Ce and no other REE’s were assayed so the true REE anomalism tenor and composition is unknown.

• A second auger program was completed at the Twin Hills Gold Project which has identified two additional target areas in addition to the target area identified from the phase one auger program completed in July this year.

• Subsequent to the end of the quarter RC drilling at Twin Hills commenced with results expected within the current quarter.

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