Avalon Heritage Clearance Survey Complete West Arunta Project...

Avalon Heritage Clearance Survey Complete West Arunta Project HIGHLIGHTS § Heritage clearance survey (‘Survey’ over high-priority ‘Avalon’ Nb-REE/IOCG target complete. § Avalon is a significant gravity anomaly high potentially representing a carbonatite Nb-REE or an IOCG mineral target1 and is similar to the gravity anomaly defining the Luni2 carbonatite. § The Survey encompassed the Avalon, Sheoak, K1 and K2 target areas, with 32 drilling traverses surveyed, allowing the Company to fast-track additional drilling programs in the event of early success. § The final Survey report is expected in 4-5 weeks and the Company plans to commence drilling as soon as practicable thereafter with an initial phase of reverse circulation (‘RC’ and diamond core (‘DD’ drilling program to test Avalon and other targets.