Lake Johnston drill program testing extensions to Xmas Gold Discovery and Medcalf Lithium Resource

Charger Metals NL (ASX: CHR, “Charger” or the “Company”) is pleased to provide a drilling progress update at its 100%-owned Lake Johnston Lithium and Gold Project (“Lake Johnston”) in the Yilgarn, Western Australia. Charger has completed a total of 3,054m drilling this quarter to date, including 1,186m of diamond and 1,868m of RC drilling, across Medcalf Lithium Deposit, the Medcalf West Exploration Target and the Xmas Gold Discovery.

KEY HIGHLIGHTS

• 3,054m of diamond and RC drilling completed so far this quarter at Charger’s 100%- owned Lake Johnston Lithium and Gold Project.
• Diamond drilling is still ongoing, testing the extensions of the Medcalf Spodumene Deposit at depth to depths of 500m.
• Following the receipt of all assay results over the coming weeks, Medcalf Lithium Resource will be revised from its current 8.2Mt @ 1.0% Li₂0.
• At Xmas Gold Discovery a diamond hole and a deeper RC hole have been completed, up dip and down dip respectively, with assays pending, to test the vertical extensions of gold intersected in hole CLGRC022 (3m @ 18.0 g/t Au & 9.15 g/t Ag from 135m, including 1m @ 41.5 g/t Au & 26.5 g/t Ag).
• A further 420 surface soil assays have been collected over the Xmas Gold Discovery area, on a 50m x 100m grid, with results pending.
• The high-grade Xmas Gold Discovery area is very under-explored with no historical RC or diamond drilling along a trend of greater than 2km.

Charger’s Managing Director, Bryan Dixon, commented:

“The Lake Johnston greenstone belt is one of the more under-explored greenstone belts in the Yilgarn of Western Australia and does not presently host a major gold or lithium mine. So far this quarter, Charger has completed 3,054m of RC and diamond drilling at its 100% owned Lake Johnston Lithium and Gold Project, with initial samples at the laboratory awaiting assays.

“Drilling has included 2,714m of drilling seeking to extend the existing lithium resource (8.2Mt @ 1.0% Li20) at the Medcalf Lithium Resource and test the Medcalf West Exploration Target. The Charger team has also completed a further 2 holes at the Xmas Gold Discovery, targeting up dip and down dip from RC hole CLGRC022, which confirmed the extremely high-grade nature of this prospect, intercepting 3m @ 18.0 g/t Au from 135m, including 1m @ 41.5 g/t Au.

“The Xmas Gold Discovery has over 2,000m of trend that has not been drill tested previously and there had not been any drilling for gold on this tenement area for 13 years prior to Charger announcing this discovery in late December 2025.”

Medcalf Lithium Drilling targeting upgrading Mineral Resource Estimate

The current program has included 2,714m of drilling at Medcalf Spodumene Deposit, with diamond drilling ongoing and seeking to test the down dip extensions to down hole depths of 500m. Initial metallurgical and ore sorting test work over the Medcalf deposit is planned to commence following the completion of the current diamond drilling programme this month. Initial Medcalf drill samples are at the laboratory awaiting assays, with results, and metallurgical test work results, to be used to calculate an update of the current Medcalf resource estimate of 8.2Mt @ 1.0% Li₂O¹.

Flora and fauna surveys and environmental monitoring are planned to commence this quarter over the Medcalf Mining Lease Application.

Drilling will also test the continuity of the 700m of strike at the Medcalf West Exploration Target, on ~140m lines, underneath the existing spodumene outcrop to a depth of up to 180m down-hole.

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