Lithium Confirmed At Madube Pan With 44% Thicker Green Clay Unit Than Eden Pan

Arcadia Minerals Ltd (ASX:AM7, FRA:8OH) (Arcadia or the Company), the diversified exploration company targeting a suite of projects aimed at Tantalum, Lithium (Clays & Brines), Nickel, Copper and Gold in Namibia, is pleased to announce the assay results for the first hole drilled at Madube pan, have intersected similar grades to the Eden Pan, where a Lithium JORC Mineral Resource has previously been defined.

HIGHLIGHTS

• Assay results received for the first hole drilled at Madube Pan, MDB01 indicate similar lithium grades to that of the holes drilled at Eden Pan
• Current JORC Mineral Resource defined over Eden Lithium Pan of 286,909t Li2CO³(LCE)¹, expected to increase from Madube drilling
  
• All holes drilled to date at the Eden and Madube Pans were drilled from surface and with grades increasing to depth
• Eight of the eleven holes completed at Madube to date intersected similar lithology of green clay units as in the Eden Lithium Pan²
  
• Clay units intersected to date at Madube pan are 44% thicker than units of Eden Pan
• Positive Lithium confirmation has resulted in the Company planning an additional nine (9) drill holes (i.e Program increased from 15 to 24 holes) on a 500m grid over Madube pan, with drilling to now be completed in December 2022

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