Ann: Co-funded Drilling Reveals REE Mineralisation, page-2

*Highlights of the Drilling Results:

1. Newly Discovered Rare Earth Element (REE) Lode:

   • Drill hole MWDD001 identified a new lode of monazite REE mineralisation not previously detected either on the surface or in prior drilling. This lode is located approximately 250 meters from previous drill holes, indicating the presence of blind REE mineralisation targets.
   • Monazite veins are of particular interest because monazite is a significant source of light rare earth elements (LREEs), which are critical in industries like electronics and renewable energy.

2. Carbonatite-Related Alteration Zones:

   • Drill hole MWDD002 intersected over 200 meters of potassic and epidote alteration zones, which are typically associated with carbonatite intrusion complexes. Carbonatites are known to host rare earth elements and the alteration zones can act as vectors, pointing toward more extensive mineralisation systems at depth.

3. Copper Sulphides, Quartz Veins, and Pegmatites:

   • Both MWDD001 and MWDD002 intersected disseminated copper sulphides, quartz veining, and multiple pegmatites. These will be assayed for potential base metals, gold, and lithium.
   • The identification of pegmatites is promising, especially for lithium exploration, as pegmatites can often host significant lithium deposits, which are critical for battery production.

4. Sulphide Mineralisation:

   • Sulphides were noted in both drill holes, with occurrences of pyrite, pyrrhotite, and chalcopyrite. These minerals can sometimes be associated with gold or base metal deposits, making further assays crucial to determining the economic potential.
   • The presence of sulphides alongside the REE mineralisation is also encouraging, as it may indicate the possibility of polymetallic deposits (i.e., containing both rare earths and other valuable metals like copper and gold).

Geophysical and Geological Context:

The drilling was part of a $200,000 co-funded Government Exploration Incentive Scheme (EIS) aimed at testing geophysical targets identified through gravity and magnetic data. The drilling focused on REE-bearing vein and dyke mineralisation that extends outward from carbonatite intrusion centers. The modelled geophysical targets are pipe-like structures, potentially related to carbonatite-hosted REE mineralisation.

Potential for Further Exploration:

• Monazite Veins: The newly discovered monazite vein represents a blind target, suggesting that there could be other undiscovered REE lodes in the area.
• Carbonatite Complex: The large alteration zones and the potential carbonatite system indicate that Mick Well may be part of a much larger REE mineralisation system.
• Lithium Potential: The presence of pegmatites could indicate lithium mineralisation, which is especially important given the growing demand for lithium in battery production.

Comparative Analysis:

Kingfisher's Mick Well project is located in the Gascoyne region of Western Australia, which is already known for its REE mineralisation. Neighboring projects, such as the Yangibana Deposit (Hastings Technology Metals) and discoveries by Dreadnought Resources, have reported significant REE resources. Kingfisher's results appear promising in the context of these regional comparisons, particularly because of the identified REE mineralisation and the additional potential for base metals and lithium.

Forward-Looking Statements:

Kingfisher Mining Limited plans to continue its exploration efforts by conducting further geophysical surveys and drilling. The company is exploring extensions of the current mineralisation and plans to define the extent of both base metal and REE mineralisation. These future exploration steps will help in better understanding the potential economic viability of the project.

Conclusion:

The Mick Well drilling program has delivered promising early-stage exploration results, especially with the discovery of new REE mineralisation and the identification of extensive alteration zones associated with a carbonatite system. The results suggest potential for further discoveries at depth and in the surrounding areas. Investors should watch for upcoming assay results for base metals, gold, and lithium, as well as the continued drilling to better define the resource.

*GPT4o