CEO Jeremy Bower commented:“To receive $3.2M cash up front, and...

CEO Jeremy Bower commented:
“To receive $3.2M cash up front, and a further $10M cash/script if a successful JORC mineral resource
delineation of equal to or greater than 7.5Mt at 0.8% Li2O (at a 0.5% cut off grade) is achieved, is a great
result during these difficult market conditions. Importantly, we have ensured the final 20% has uncapped
upside, with this portion to be negotiated in good faith between Reach and Delta.
Combined with our recently announced Rights Issue to raise up to ~$2M, and further subject to
shareholder approval being obtained to consolidate the capital of the Company, Reach will re-emerge
with a tight capital structure and over $6M cash.
We are working with the Traditional Owners at our Wabli Creek Niobium project to get on the ground and
complete the necessary heritage requirements so we can validate the large target areas identified by
independent geochemist Sugden Geoscience late last year and we look forward to updating shareholders
on our various work streams as we progress.”