West Arunta Niobium Exploration Update

MTM Critical Metals (ASX:MTM) (MTM or the Company) has commenced its exploration of its new West Arunta niobium REE project where it is targeting high-value mineralisation associated with carbonatites.

Highlights:

• MTM has commenced exploration on 3 granted exploration licences in Western Australia’s West Arunta region, immediately adjacent to ground held by WA1 Resources Ltd (ASX:WA1) and Encounter Resources Ltd (ASX:ENR).
• MTM’s exploration program designed to replicate and expand on WA1’s successful journey to date.
• Negotiation of heritage agreements with local Native Title holders currently in progress.

“The West Arunta region is one of Australia’s critical metal exploration hotspots with over $60m in exploration expenditure collectively invested in the district by a number of ASX companies including WA1 Resources Limited (ASX:WA1), Encounter Resources Limited (ASX:ENR), Rio Tinto Limited (JV with Tali Resources Pty Ltd) (ASX:RIO) and CGN Resources Limited (ASX:CGR).”

“We are very pleased to start exploration on our ground in the West Arunta province, where there is an opportunity to discover new niobium-rare earth deposits associated with carbonatites. There has been limited exploration in the area, so collection of basic exploration datasets like detailed geophysics could reveal quality targets near to the emerging mineralised carbonatite projects identified by both WA1 and Encounter” Mr Reynolds said.

“It is especially fortunate as WA1 has recently released additional high grade niobium results (including 9m at 3.7% Nb₂O₅, 12m at 3.4% Nb₂O₅, 120m at 1.0% Nb₂O₅)¹ as they look more and more likely to deliver a world class niobium resource. We are fortunate to have secured ground that is within 10km of the Luni niobium discovery and within 20km of the P2 niobium discovery and we are looking forward to getting on the ground.”

The Company is currently reprocessing available geophysical survey data and is assessing options for the collection of new magnetic and gravity geophysical data that will be utilised to generate drilling targets. Like the recent discoveries, the exploration program will focus on concealed coincident gravity and magnetic targets within prospective basement rocks that could represent mineralised carbonatite intrusions. Ultimately these targets will be tested with drilling.

MTM has also commenced negotiations regarding heritage agreements with the local Native Title holders to obtain access to the tenements.

West Arunta Niobium REE Project

Covering ~140km2, the granted West Arunta exploration licences are located immediately adjacent to tenements held by WA1 and Encounter, where niobium-REE mineralised carbonatites have recently been discovered (Figure 1).

Figure 1: The West Arunta Niobium-REE Project comprises three granted exploration licences in eastern central Western Australia, located within the Gibson Desert about 80 to 130km west of the Northern Territory/ Western Australia border.

Historical exploration in the West Arunta WA REE tenement areas is very limited and the Company has recently completed a compilation of the exploration data for the area, which shows that there has been no drilling on the ground, nor have any systematic geochemical sampling or detailed geophysical surveys ever been completed.

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