Drilling Confirms Thick Spodumene Bearing Pegmatites, Open in All Directions

Drilling of the initial six Priority 1 drill holes across four drill sections in the southern target area (Figure 2) is nearing completion, with all six holes intersecting a series of stacked spodumene pegmatites. Logging has confirmed that the individual pegmatites range in true thickness to a maximum of 21.1m, with a cumulative intersection of over 36m in hole SADD004 (Figure 2, Table 1).

HIGHLIGHTS

• Six diamond drill holes completed, on four sections covering 500m of strike, with all holes intersecting multiple spodumene bearing pegmatites.

• Cumulative pegmatite intersections of up to 36.1m true thickness encountered in one hole, with individual pegmatites up to 21.1m true thickness. All pegmatites are open along strike and down dip.

• Samples for the first four holes have been dispatched to the laboratory for analysis, with the first assay results anticipated in the next few weeks.

• Drilling focus has moved approximately 500m to the north to drill Priority 1 drill holes in the northern target area.

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