PVW Resources (‘PVW’, “the Company”) is pleased to present its Quarterly Report.

Exploration in the Tanami was completed in November with results returned during the Quarter continuing to highlight the potential of the project. Intercepts of Heavy Rare Earths reported in November highlight the success of the maiden drilling program at its Tanami Project in Western Australia. Air-core drilling likewise has intersected multiple new Yttrium anomalies that have been sampled for REE mineralisation. Final assay results for the air-core drilling are pending.

Highlights

Tanami Rare Earth Element (REE) and Gold Project

Exploration during the period has continued in the Tanami for REE and Gold. While the drilling

programme is complete for 2022, numerous assays results are pending, the company has continued to improve the understanding of REE mineralisation and has commenced defining the next generation of REE targets.

❱ The ground gravity survey interpretation is being finalised and the field mapping campaign was completed with immediately positive outcomes.

❱ Mapping has highlighted an exciting Breccia Zone Target at Watts Rise while outcomes of the ground gravity interpretation are eagerly awaited for addition to the targeting criteria.

❱ Regional air-core results from the 357 air-core holes (16,206m) are yet to be completely with 89 holes pending results. Results awaited include samples of the highest pXRF Yttrium air-core readings. These are required to finalise reporting on the drilling program.

Rare Earth investments and exploration continue to increase with particular focus on Western Australia. This level of activity was not evident during the global REE crisis in 2010/11.

Corporate

Annual General Meeting was held on the 29th of November with all resolutions passed.

Robin Wilson presented at The Australian Rare Earth Conference in Canberra.

George Bauk presented at the New World Metals Conference in Perth/Sydney and Melbourne.

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