Ann: Final Infill Drilling Results for Kangankunde, page-2

HIGHLIGHTS
• Final drill assay results identify continuous high-grade mineralisation
• Significant intersections include:
❖ 80 metres @ 3.83% TREO from surface to EOH in KGKRC099
❖ 140 metres @ 3.20% TREO from surface to EOH in KGKRC096
❖ 100 metres @ 3.09% TREO from surface to EOH in KGKRC097
❖ 80 metres @ 2.72% TREO from surface to EOH in KGKRC109
❖ 150 metres @ 2.62% TREO from surface to EOH in KGKRC093 including,
o 90 metres @ 3.54% TREO from 58 metres
❖ 150 metres @ 2.60% TREO from surface to EOH in KGKRC098 including,
o 21 metres @ 4.49% TREO from surface, and
o 66 metres @ 3.20% TREO from 70 metres
• Average grade of rare earths critical metal elements neodymium-praseodymium (NdPr)
remains consistent at ~20% of TREO with grades of up to 23.5% TREO recorded
• The current Mineral Resource Estimate (“MRE”) of 261 million tonnes @ 2.19% TREO
contains 5.7 million tonnes of TREO (refer ASX announcement 3 August 2023)
• Planned update to MRE expected to be published this month
• Feasibility Study due this quarter
Lindian’s Chief Executive Officer, Alistair Stephens said: “Assays for the Phase 3 drill program are now
finalised. Lindian’s technical team has completed more than 20.7 kms of drilling at Kangankunde in less than
15 months to define what is one of world’s best rare earths deposits with excellent grade, non-radioactive
material, a high NdPr ratio and enormous scale. Our technical team is to be congratulated for their efforts. This
month we will reported an updated Mineral Resource Estimate that includes the Indicated component of the
Resource as well as an Ore Reserve Estimation which is another meaningful benchmark to assess the project’s
unlocked value. Following this will be further updates on mine development capex and opex prior to the release
of the Feasibility Study this quarter.”