Multiple New Niobium/REE Targets at Wabli Creek Project, Yinnetharra, W.A.

Reach Resources Limited (ASX: RR1 & RR1O) (“Reach” or “the Company”) is pleased to outline a significant extension to the Niobium/REE targets following an external review from Sugden Geoscience on soil assay results, from its 100% owned Wabli Creek Project.

HIGHLIGHTS

• Assay results from a tenement-wide soil survey have identified 16 new strong, coherent Niobium/Rare Earth Element (REE) anomalies at the Company’s 100% owned Wabli Creek Project.
• The results demonstrate a significant extension to the previously reported Niobium/REE targets identified at the north-western margin of the project area within tenement E09/2377 (ASX Announcements 01 June & 28 June 2023), (Figure 1).
• Multiple new targets identified across both Wabli Creek tenements (E09 2377 – Wabli Creek) and (E09 2748 – Wabli Creek North) (Figures 2 & 3).
• The top 3 priority targets define a semi-continuous arcuate zone of strong anomalism extending over 4km’s which may reflect a common source/tectono-stratigraphic control.
• Highly anomalous rock chip results previously reported include, Niobium:
  • 32% Nb2O5 (ASX Announcement 1 June 2023) (Figure 1)
  • 14.3% Nb2O5 (ASX Announcement 1 June 2023) (Figure 1)

Rare earth elements:

• 2.57% TREO (ASX Announcement 13 December 2022) (Figure 1)
• None of the targets have been previously drill tested.
• RR1 plans to undertake systematic rock chip sampling, mapping and drilling in 2024, once all regulatory approvals, including heritage surveys, are obtained.

Tenements E09/2377 (Wabli Creek) and E09/2748 (Wabli Creek North) together comprise the Wabli Creek Project area (Figures 2 & 3).

Located in the highly prospective Gascoyne “Battery Metals” Province of Western Australia, the soil assay results outline multiple strong, coherent geochemical anomalies indicative of Niobium, REE and Lithium mineral systems.

A total of 1,489 soil samples were taken across the two tenements. Sampling was generally conducted along 200m to 100m spaced lines with a 100m to 50m sample spacing, to assess the potential extent of the high-grade Niobium/REE occurrence identified in the northwest of E09 2377 (ASX Announcement 01 June and 28 June 2023), and to further assess the broader potential of both tenements.

Refer to Annexure 1 for a summary of significant soil results and Annexure 2 for all soil results.

Results from the soil survey were interpreted by the Company’s Consulting Geochemist, Sugden Geoscience. A total of 16 priority targets ranked from 1 to 4 have been identified (below), for further evaluation, which will include rock chip sampling, mapping and ultimately drill testing.

The assay results have clearly identified a significant extension to the high-grade Niobium/Rare Earth Elements (“REE”) target previously identified which has returned results up to 32% Nb2O5, 14.3% Nb2O5 and 2.57% Total Rare Earth Oxides (“TREO”) (ASX Announcement 1 June 2023).

Jeremy Bower CEO commented:

“We are excited to announce that our large-scale soil survey has confirmed a significant extension to the high-grade Niobium/REE target near the western margin of tenement E09/2377.

Not only have we had an expert geochemist identify a large extension to the previously reported high grade Niobium and REE up to 14.3% Nb2O5 and 2.57% TREO, we now have targets on a separate second tenement in the Wabli Creek project area (Wabli Creek North).

It is important to understand that the target area is substantial, and with multiple new targets with strong multi-element pathfinder geochemical signatures across both tenements (Wabli Creek and Wabli Creek North), the scale of prospectivity across the tenure is very compelling.

We remain committed to undertaking a methodical approach to our assessment, with every stage designed to refine our final targets ahead of drill testing.

The Future is within Reach”

Figure 1: Previous rock chip results & mapping at Wabli Creek (ASX Announcement 28 June 2023)

Figure 2: Large Nb target extension from previous work and spread to a second Company tenement at Wabli Creek North, Yinnetharra, W.A. Rock chips have been previously reported.

Typical geochemical “fingerprints” for these styles of mineralisation are as follows:

• Niobium: Nb, Zr, Ta, Hf, F, Y, Th, U, REE
• Rare Earth Elements: TREO
• Lithium- LCT Pegmatites: B, Be, Cs, Ga, Hf, K, Li, Mn, Nb, P, Rb, REE’s, Sn, Ta, W & Zr

(Note: Elements displayed in bold are the main commodity elements)

Given the similarities of pathfinder element signatures for each of these deposit styles and spatial patterns, a weighted sum was calculated to identify and rank targets which included the main commodity and the relevant supporting elements. The targeting study was undertaken by Sugden Geoscience using the levelled weighted sum and RR1’s soil and, where available, historical rock chip data. Weighted sum modelling is a method based on prior knowledge concerning the mineral system(s) of interest. It is an industry accepted procedure recognised as being a simple and practical way of combining multi-element geochemical data to focus on a particular metallogenetic and/or geochemical association.

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