Pegmatite Outcrops Identified at Attwood Lake Lithium Project, Ontario, Canada

Redstone Resources Limited (ASX: RDS) (Redstone or the Company) is pleased to announce results for returned assays from its Phase 1 reconnaissance exploration program (Phase 1 Program) on the Attwood Lake Lithium Project (“Attwood Lake” or the “Project”) located in northwestern Ontario, Canada.

HIGHLIGHTS

• Numerous pegmatite outcrops identified from the Phase 1 Exploration Program on Redstone’s Attwood Lake Lithium Project, located in northwestern Ontario, Canada.
• The Phase 1 program consisted of a helicopter‐supported geological mapping and sampling program for lithium (Li) and rare‐earth element (REE) bearing pegmatites.
• Results from the 209 rock grab samples collected indicate elevated Li is present across the Project.
• Numerous rock grab samples have returned Li assays above background levels. Seven samples returned Li assays at three times background levels.
• The Phase 1 Program and results indicate elevated Li is present across the Project with the largest and most prospective pegmatites found in the western portion of the Project.
• The mineralogy and geology observed across the entire Property is permissive to host potentially anomalous lithium concentrations.
• The Project is road accessible via 2 forestry roads on both sides of the property.

The helicopter‐supported reconnaissance program focused on geological mapping and sampling for lithium (Li) and rare‐earth element (REE) bearing pegmatites. Samples were collected from outcrops that varied in size from a few meters up to 10s of meters wide by 50 m long. Sampling concentrated on the largest accessible pegmatite bodies observed from the air with a total of 209 rock samples collected from various pegmatitic bodies on the Project (Figures 1 and 2, Appendix 1). At least a further 10 pegmatite bodies were identified from the air but are yet to be sampled.

The Phase 1 Program and results obtained to date indicate that elevated lithium is present across the Project. The western half of the Project is considered the most prospective due to the abundant pegmatite exposures in the area which returned the highest lithium concentrations (Figure 4). These pegmatites are hosted within metasediments and comprise the largest pegmatites found on the Project to date.

Figure 1: Location and geology of Attwood Lake Phase 1 Program rock samples.

Figure 2: Geologist exposes pegmatite outcrop beneath lichen.

The collected rock samples were analysed at ALS Global Laboratories in Thunder Bay, Ontario, Canada, using a standard 4‐acid digestion for a suite of 48 elements. The samples returned lithium concentrations up to 78.9ppm. Seven grab samples comprising pegmatitic‐grained granites to pegmatites, medium‐ to coarse‐grained granites and other lithologies (Figure 3) from across the Project yielded Li assay values greater than 60 ppm (three‐times background levels; Figure 4).

Figure 3: Left: Pegmatite with minerals of feldspar (white/cream), quartz (clear), tourmaline (black), muscovite (bronze), and apatite (blue). Right: Black tourmaline crystals in pegmatite.

The highest assay sample F0031340 (78.9 ppm Li) was collected from a large pegmatite body that extends over 200 m in length and trends east‐west. Sample F0031006 (72.5 ppm Li) was collected along a trend of pegmatite bodies that extend over 800 m in length, with individual pegmatites reaching approximately 50 m in length. Follow up sampling in these areas is proposed to test the entire extent of the pegmatites.

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