Locksley Resources Limited Targets REE Potential in Mojave North Block Claims

Perth, Australia (ABN Newswire) - Locksley Resources Limited (ASX:LKY) (OTCMKTS:LKYRF) is pleased to announce that it will commence an expanded geological and structural mapping program in August, within the North Block of the Mojave Project, California. The field program will focus on both expanding knowledge gained from the recent structural mapping program completed at the Desert Antimony Prospect and importantly, undertaking first pass regional mapping across prospective areas within the North Block claims with the potential for REE mineralisation (Figure 1*). The North Block directly abuts MP Materials' Mountain Pass Mine, the only producing rare earths mine in the United States and the focus of recent strategic investment from the Pentagon and Apple.

Key Highlights

- A structural and geological field mapping campaign to commence late August, defining high priority REE and antimony target areas

- 4 priority areas to be mapped, with 2 focusing on REE potential within the North Block of the Mojave Project and two targeting strike extensions from mineralisation identified at the Desert Antimony Prospect

- Planning and contractor engagement underway for focused magnetic, radiometric and gravity surveys to provide additional high-resolution data sets for target refinement and prioritisation

- The North Block offers significant potential for further polymetallic discoveries across its underexplored 20 sq km, expanding the overall critical minerals footprint of the Mojave Project

- Technical team advancing high priority targets to build on established REE potential at El Campo

These additional mapping target areas complement the established prospect at El Campo, which has high grade rock chip results of up to 12.1% TREO and Nd/Pr up to 3.19%. The program is set to expand REE potential into the North Block, which lies immediately adjacent to MP Materials' Mountain Pass Mine. Drilling is set to occur at El Campo later this year, and these additional target areas highlight the broader opportunity across Locksley's 20 sq km landholding within a proven U.S. critical minerals jurisdiction.

Exploration Overview

Following on from the success and increased geological knowledge gained through geological mapping at the Mojave Project in July 2025, a second field mapping campaign is set to commence in August. The field mapping campaign will focus on extending the geological model at the Desert Antimony Prospect to the northeast and southwest as well as conducting initial mapping across other areas within the North Block claims identified as having potential to host REE mineralisation.

These additional target areas were identified through the assessment of available geological and geophysical datasets, highlighting their potential to host REE mineralisation. The additional target areas included in this mapping campaign are identified as the 'Birthday' Prospect (named due to proximity to a historic recorded shaft in the vicinity) located 1.4km North of the Mountain Pass Mine and the North-East Prospect located 4km to the ENE of the Mountain Pass Mine.

In addition to the mapping campaign scheduled for late August, further work is also anticipated to include drone surveys and detailed geophysical analysis (magnetics, radiometrics and gravity). This work will complement ongoing efforts at El Campo and support the potential identification of additional high priority REE prospects across the Mojave Project.

Julian Woodcock, Technical Director of Locksley Resources, commented:

"The commencement of additional field mapping programs at the Mojave Project, adjacent to MP Materials' Mountain Pass Mine will provide additional field data which may provide new REE targets for follow up later in the year. Our technical team is committed to expanding our geological knowledge to complement the existing Desert Antimony and El Campo prospects, enhancing our overall REE opportunity within the Mojave Project and strengthening our position in a proven U.S. jurisdiction."

Next Steps

- BLM approvals for the expanded Plan of Operations expected in September 2025, enabling drilling commencement shortly thereafter

- Complete integration of recent geological modelling and previous surface sampling activities with the objective of determining a JORC Exploration Target ahead of drill testing

- Engagement of metallurgical consultant to develop testwork flowsheets for the Mojave Project targeting recovery and upgrade of Rare Earth Elements (REE) and Antimony

- Launch of the expanded Desert Antimony drill program with first drilling results anticipated in Q4 2025

- Progress on downstream collaboration opportunities centred around the USA government mandate to create a domestic fully integrated critical minerals supply chain. This encompasses potential technology partnerships in processing capabilities, e-waste and other technologies

- Further U.S. investor and government engagement leveraging Tribeca's networks to secure strategic capital and policy aligned funding

- Strengthening U.S. supply chain positioning with additional project level initiatives and strategic partnerships to enhance long term value creation

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/3FF3QYO6

About Locksley Resources Limited:

Locksley Resources Limited is an ASX-listed explorer focused on critical minerals and base metals, with assets in both the United States of America and Australia.

The Company is actively advancing exploration across two key assets: the Mojave Project in California, targeting rare earth elements (REEs) and antimony, alongside the Tottenham Copper-Gold Project in New South Wales. Locksley Resources aims to generate shareholder value through strategic exploration, discovery and development in highly prospective mineral regions.

Source:
Locksley Resources Limited

Contact:
Nathan Lude
Chairman
Locksley Resources Limited
T: +61 8 9481 0389