Further Drilling Indicates Potential To Grow Bitterwasser Lithium Resource

Arcadia Minerals Ltd (ASX:AM7, FRA:8OH) (Arcadia or the Company), the diversified exploration company targeting a suite of projects aimed at Tantalum, Lithium, Nickel, Copper and Gold in Namibia, is pleased to announce the commencement of further drilling at its Bitterwasser Lithium-in-Clay Project and to report that similar lithology to that of the Eden Pan, where a Lithium JORC resource has previously been defined², has been intersected in the first drill hole at the Madube Pan.

---

HIGHLIGHTS

• Drilling commenced over additional exposed clay pans at Bitterwasser, with the first hole at the Madube Pan (one of fourteen pans) intersecting similar lithology to the drilled Eden Lithium Pan
  
• Current JORC Mineral Resource defined over the Eden Lithium Pan of 286,909t Li2CO3 (LCE)¹
  
• First auger hole at Madube Pan intersected lithological units similar to Eden Lithium Pan
• Initial observations confirm that green clay units (which contained high lithium grades at Eden Lithium Pan) were intersected at Madube
• From the first auger hole at the Madube Pan green clay units were observed to be 44% thicker than the widest intercept of similar lithology at the Eden Lithium Pan
• Drilling to continue over the Madube Pan, as well as other pans until the end of November

Similar Lithology Intersected at Madube Pan to that of Eden Pan

The Company has continued its exploration activities on the clay deposits at the Bitterwasser Lithium Clay Project. Previously, drilling only took place over the Eden pan, which resulted in a JORC¹ Mineral Resource being defined of 286,909-ton Lithium Carbonate wholly classified in the Inferred Category.