Ann: Phase II Drilling Expanded and Corporate Update, page-34

It is not a bold move - it makes sense and is very logical as I explain below. Just read the tea leaves or connect the dots..

The first image below from July 2024 presentation shows a Nb core in blue - ie they can see from visuals if they have a high grade Nb - then they use an XRF machine to assay the Nb grades on-site since they noted a few times the XRF grades reconcile reasonable will with final assays. They have not released they XRF results like a lot of stocks do to pump up the SP which is great.

That is they know from visuals and the XRF measurement what they have and as you can see from the second image they have outlined the interpreted high grade Nb area which goes down deeper than the 275m plug to about 350m -400m ie below ground - note how the the interpreted high grade Nb widens at depth. Note also that they discovered last year or in 2023 a high grade Nb dyke outside the 1.4km base of the plug which indicates at depth the Nb high grade is wider than 1.4km diameter of the plug. How wide is yet to be determined.

They are drilling 2 deeper holes to 550m-60m and the horizontal holes. The deeper holes are obviously due to the 400m holes having Nb at EOH while it makes sense to drill the horizontal holies to understand how wide the high grade Nb is rather than drill a whole lot of vertical holes.

If they find the Nb goes down to 600m from the top of the plug and it is at least as wide as 1.5km then we are talking about a monster deposit of perhaps up 2bn t - ie 10 times WA1. But remember they need to prove the Nb does go down to 600m and is as wide as 1.5km. And if the grade is over 1% it will be even bigger than WA1 which has a grade of 1%.This is all speculation on my part about the size.

You should do your own research and not rely on mine.