Exceptional Clay Hosted Rare Earth Grades Intersected at Poços

Enova Mining Ltd (ASX: ENV) is pleased to announce high grade REE assay results from sampling at Poços¹

KEY HIGHLIGHTS

• Enova confirms significant assay results for a non-invasive shallow subsurface auger sampling programme at Poços; highlights of these are results greater than 2,000 ppm TREO² are as follows:
  • A1-TR001-001 including 3m @2,744
  • A1-TR003-001 including 3m @3,030
  • A1-TR006-001 including 3m @3,508
  • A1-TR008-001 including 2m @2,113
  • A1-TR009-001 including 3m @3,964
  • A1-TR010-001 including 3m @2,524
  • A2-TR001-001 including 1m @2,786
  • A2-TR002-001 including 2m @2,043
  • A2-TR006-001 including 2m @2,099
  • A3-TR002-001 including 3m @2,306
  • A3-TR005-001 including 2m @2,145
  • A4-TR001-001 including 2m @2,488
  • A4-TR001-001 including 3m @4,950
• Peak rare earth element (REE) assays were 5,158 ppm TREO or 0.52% TREO, 5,042 ppm TREO or 0.50% TREO, 4,650 ppm TREO or 0.47% TREO, providing guidance for a high-grade exploration target at Poços,
• REE enriched tenements at Poços confirm the areas’ potential for a prospect scale high grade REE deposit,
• Shallow surface and subsurface sampling confirmed surface saprolite clay systems w
• across all Poços tenements, with potential deeper mineralisation upside.
• The project is located nearby to townships, well-developed highways, infrastructure, water access, hydroelectric power and well connected to a commercial port.

ANNOUNCEMENT

Enova Mining Ltd (ASX: ENV) (“Enova” or the “Company”) is pleased to announce assay results from non-invasive shallow surface and subsurface auger sampling at Poços tenements 832.174/2023, 832.175/2023, 832.177/2023, 832.179/2023 and 830.652/2020. The locations of the auger sampling and significant assay intercepts are provided in Figure 2. In accordance with ASX reporting of mineral results, details of the sampling, assay results and other technical details are contained in JORC Table 1 and Significant Results and Auger Sampling Data for Poços Project in Table 2 in Appendix A.

The Poços alkaline complex massif region (Poços) hosts world-class rare earth element (REE) mineral discoveries. Enova aims to replicate the success of peers in the region. Refer to Figure 1 (below) for a location plan of Enova’s tenements and surrounding tenements of IAC REE significance.

Figure 1: Regional location of Poços tenements

Enova is assessing results from the current exploration program and the potential for future air-core drilling program. Regarding tenements overlain by the Pedra Branca APA area and buffer zone, identified during Due Diligence, further clarification is being sought regarding requirements for more impactful exploration in the future, such as air-core/reverse circulation drilling and future development.

Mr. Eric Vesel Managing Director of Enova, commented:

“The assay results from the Poços sampling programme confirm the prospectivity of the tenements, which is not surprising for tenements within the alkaline complex. The largest tenement, located near the southern rim of the complex, was encouraging but with mixed results (Above and below 1000ppm TREO). Overall, the Poços results have returned exceptional near- surface grades which has significant unexplored deeper saprolite strata worthy of follow up exploration. This Phase 1 exploration work was part of our initial reconnaissance to investigate our portfolio of prospective REE tenements.

Our team is currently focused on the CODA maiden drill programme; we recognise the importance of assessing all our other projects. We have arranged a consulting exploration team to explore our Juquiá tenements, a potential carbonatite prospect. There is also REE potential within our Santo Antonio (do Jacinto) tenements based on a strong thorium anomaly3, as shared by SI6’s Pimenta Project.

Enova is now in the envious position of holding two major potential IAC REE project areas: POÇOS and CODA with further areas currently under investigation. It’s remarkable that in such a short period of time, Enova has acquired and brought from concept to exploration stage, two major projects with significant upside and worthy of development.”

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