Ann: Exploration Update on Gibraltar and Nevada, page-49

Hi Roostar

Whilst we sit on our hands waiting for the drilling results to be finalised I thought I would share snippets from a couple of articles that I read recently. I thought these were relevant seeing that are neighbours at Mt Hope have been drilling and their results show their deposits are open to the N which is the direction of Gibraltar. However the drilling results at Gibraltar have encouraged further drilling W and N which is not towards Mt Hope where results in the S (towards Mt Hope) were definitely not encouraging.

From John Millar 20/11/20:
Pending results from the initial test work, a follow up drilling programme is proposed to extend the drill coverage to the N and W where initial indications show better development of the weathered basement clay material.

From Emma Davies 23/12/20:
The Oakdale Gibraltar project which is adjacent to Andromadas Mt Hope Project has Oakdale aware of the potential growth that could follow positive results that could progress to a mineral resource at the project.
The high proceptivity and location provide strong value upside for Oakdale, the company's SP and MC are yet to catch up with its peers (Andromada).
Oakdale MC is approx $40M and Andromadas increased from $13M when it began exploring the regions kaolin potential in 2018, to more than $680M as strong results continue.

Oakdale have a lot of ground to make up to get any sort of comparison with A but there will certainly be a huge demand for the many grades of kaolin and halloysite that are part of this resource.

kippax