Ann: Trading Halt, page-8

Offer Price:

A$0.18 per share

Discount:

• Close PriceA$0.225 20.0%
• 5 Day VWAP A$0.228 21.1%
• 10 Day VWAP A$0.215 16.1%

Offer Details:

Placement of new fully paid ordinary shares (“New Shares”) to raise between approximately A$2.0 to 3.0 million via the issue of between approximately 11.1 and 16.7 million new fully paid ordinary shares (“New Shares”) at the Offer Price in accordance with ASX Listing Rule 7.1 and 7.1A (“Placement” or the “Offer”).

The Company and the Lead Manager reserve the right to take oversubscriptions within the Company’s existing placement capacity.

Use of Proceeds:

• Aircore drilling – lithium
• RC drilling – lithium
• Geophysics – lithium
• Auger / geochemistry – lithium
• Native title / heritage surveys
• General working capital (including costs of the Offer)