Gorge Project And Corporate Update

Balkan Mining and Minerals Ltd (ASX: BMM; “Balkan Mining” or “the Company”) advises that the Company has begun an extensive soil sampling program at the Gorge Project in Ontario, Canada.

HIGHLIGHTS

• Soil sampling underway at the Gorge Lithium Project, Ontario.
• Focused on the identified Koshman and Nelson pegmatite occurrences following on from the successful 2022 channel sampling program, which included 1.8m @ 3.75% Li20, confirming significant project potential.1
• Appointment of Valerie Pascale as the Company’s head of ESG and permitting.

Balkan Mining and Minerals, Managing Director, Ross Cotton, commented:

“We have continued to diligently complete our work programs as we embark upon our 2023 field season. We are on track to do justice to our multiple projects in Ontario and Quebec, aligning ourselves with the rapidly growing Canadian lithium market.”

Gorge Sampling Program

With the onset of Spring and improved access, the Company has begun an extensive soil sampling program at the Koshman and Nelson occurrence in 20m grids, then stepping out to a wider area at a 100m grid pattern, covering an area of approximately 5km2.

Historical and recent sampling and channeling completed in 2022 returned very positive results with high lithium grades (refer to announcements dated 4 July, 28 September and 16 December 2022). The results of the sampling program will assist in the delineation of targets for follow up drilling.

The field teams’ immediate focus can be seen in Figure 1.

This program will also serve to benefit the Company’s endeavours to systematically explore the larger Gorge Project area, including the additional 5 claims secured in November 2022.

Corporate

The Company is pleased to have appointed Valerie Pascale, formerly of Modern Core, has as the Company’s in-country head of ESG and permitting in Canada.

Ms Pascale has worked Corporate Social Responsibility (CSR) capacity in the mining industry for 13 years. Until recently, she was the Manager of CSR at Newmont (formerly Goldcorp) for almost 11 years. Ms Pascale worked with NGOs, Aboriginal organizations, community groups, and governments on a variety of development projects and pro before moving to the private sector.

Ms Pascale is a graduate of International Development Studies from Guelph University in Canada. While at Newmont, she was responsible for the development of the first CSR and Human Rights corporate policies. Ms Pascale worked closely with the VP of CSR to develop the first corporate CSR Framework/Strategy for Goldcorp. She was responsible for the ongoing development of corporate CSR strategies, policies, and guidelines. She supported global CSR/community relations teams, exploration teams, development projects and operations. She also focused on building strategic partnerships with various stakeholder groups to maximize the local benefits of mining and to achieve effective and sustainable community development.

Figure 1; Gorge Project Soil Sampling Map

Authorised for release by the Managing Director of Balkan Mining and Minerals Limited

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