Ann: First Drill Results from Sugarloaf Graphite Prospect, page-2

SUMMARY
• Best results from the first 6 of 17 drillholes include
o SLRC23-006 – 28m @ 15.0% TGC from 75m and 18m @
11.2% TGC from 114m, ended in mineralisation
o SLRC23-004 – 17m @ 6.4% TGC from 80m
o SLRC23-002 – 6m @ 5.3% TGC from 39m and 6m @ 7.8%
TGC from 48m and 2m @ 12.6% TGC, ended in
mineralisation
o SLRC23-003 – 10m @ 4.0% TGC from 5m
• The results from the first 6 holes at Sugarloaf demonstrate a
continuation of the thick, high-grade mineralisation well into the
southern half of the exploration target
• Assays from a further 11 drill holes are due in the coming weeks
• It is believed that SLRC23-006 hit the main graphite target at
depth, with drill holes SLRC23-0013 and 0014 demonstrating
continuity to surface (assays pending)
• With the main target located in hole SLRC23-006, later holes were
more effective at targeting the main graphite horizon at Sugarloaf
and obtaining samples for metallurgical test work
“The results from the first 6 of 17 drill holes at Sugarloaf are a great start
for iTech Minerals’ 2023 graphite drilling campaign. With a combined
interval of over 46m at greater than 10% graphite, the Company has
shown that thick, high-grade graphite mineralisation extends well into the
southern half of the 4.3km long exploration target of 158 – 264 Mt @ 7-
12% TGC. Further estimates, from holes yet to be reported, show that the
mineralisation extends to within metres of the surface.”
- Managing Director Mike Schwarz