Quarterly Activities Report to 31 December 2023

SensOre Limited (ASX: S3N or the Company), soon to be renamed Premier1 Lithium (ASX:P1L), is focused on tapping into the potential of Western Australia’s renowned lithium reserves. Its strategic exploration approach in this world-class mining jurisdiction is driven by a commitment to uncover valuable resources efficiently and effectively.

Highlights

• Capital Raising - $3m placement to new and existing institutions and sophisticated investors
• Demerger of technology business unit via in-specie distribution which took effect January 2024 Exploration gathering momentum:
  • Abbotts North – Soil results at Abbotts North expanded the potential area of prospectivity
    • Heritage survey successfully completed in December 2024 at Abbotts North
    • Contract for RC drilling signed with Precision Exploration Drilling Pty Ltd
  • Yalgoo – Tenure added with new farm-n signed with Firetail Resources
  • Other Li Projects – Advanced data analysis and field programs on all projects Corporate – the SensOre board was reconstituted on 25 January 2024
• Cash balance at 31 December 2023 $0.53m prior to proceeds of $3m raise received January 2024

Exploration

SensOre is working on a pipeline of promising lithium projects with Abbotts North being the premier exploration project hosting outcropping lithium bearing pegmatites.

Safety and Environment

SensOre conducted field exploration activity with no reportable ESG related incidents in the quarter.

Abbotts North Project

All heritage and environmental approvals are on track to facilitate first pass drilling in February 2024 with site mobilisation scheduled for 29 January 2024. Drilling will be undertaken by Precision Drilling Pty Ltd. The RC program is designed to drill test a series of outcropping lithium bearing pegmatite units along ~500-600m of strike length within the main Buttamiah Prospect area. The pegmatites show previously reported grades of up to 1.25% Li2O at surface. Approximately 2,000m of RC drilling is planned to test for lithium mineralisation continuity at depth and assess pegmatite scale, geometry and mineralogy.

Abbotts North Lithium Project

SensOre has also completed the first pass lithium targeted soil geochemistry program at the Abbotts North project for a total of 600 samples. Factor analysis (FA) was employed at Abbotts North with the purpose of identifying multielement signatures within the soil assay samples which may be indicative of Li mineralisation. The work was successful in identifying spatial and geochemical associations between lithium mineralisation and mapped geology. The results from the soil survey highlighted new areas of interest with anomalous responses comparable to the geochemical signature over the main lithium bearing pegmatite field. The soil anomalism also correlates with prominent structural contacts and corridors.

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