Quarterly Activities/Appendix 4C Cash Flow Report

The directors of Mt Monger Resources Limited (ASX:MTM) (MTM or the Company) are pleased to provide shareholders with the quarterly report on the Company’s exploration activities for the period ending 31 March 2023.

Highlights:

• Company completed an Option to acquire 100% interest in Pomme REE-Nb project claims located in Québec, Canada
  • Confirmed carbonatite-hosted rare earth element (REE) and niobium (Nb) mineralisation
    
  • Two reconnaissance diamond drill holes completed in 2012 contain highly significant, exceptionally thick mineralised intersections
  • Mineralisation contains elevated NdPr and significant proportions of both magnet REE and critical REE
    
  • Located only seven kilometres from the world-class Montviel carbonatite REE-Nb deposit owned by Geomega Resources Inc.
  • Excellent infrastructure - existing road access, local services and proximity to hydro-electric grid
    
  • Access to an existing geological team with history of work at the Montviel deposit and expertise in managing exploration in the area
  • Existing arrangements with local First Nations community
    
  • Drone magnetic survey commissioned
  • Diamond drilling permitted and expected to commence in May 2023
    
• Extensive aircore and RC percussion drilling program completed at the East Laverton project:
  • Further evaluation of clay-hosted rare earth element (REE) mineralisation at Pt Kidman prospect area
    
  • First-pass drill test of nickel and gold targets at Seahorse prospect area
• Two-tranche, $3 million placement undertaken to fund diamond drilling and associated metallurgical work at Pomme REE-Nb project

During the reporting period the Company announced that it has entered into a binding option agreement to acquire a 100% interest in the Pomme REE-Nb project (the Project) located in Québec, Canada from TSX.V listed Geomega Resources Inc. (Geomega). The Project is a known carbonatite intrusion with exceptional results from limited drilling, showing enrichment in rare earth elements (REE) and niobium (Nb) and is considered to be an extremely prospective exploration target and a compelling opportunity for the discovery and future delineation of a REE-Nb resource.

An active work program was also undertaken at the East Laverton project in Western Australia, where an extensive aircore drilling program was completed to evaluate clay-hosted REE mineralisation at the Pt Kidman prospect; and to provide a first-pass test of nickel and gold targets at the Seahorse prospect area.

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