Ann: Investor Update Webcast, page-12

Time for some crude math with some wild assumptions. 15 holes drilled, 358 samples assuming they have intersected both pegmatites on every hole sampling 3m of the FW and HW either side of the pegmatites plus 1m sampling through the pegmatite itself.

• 180 samples will be dedicated to sampling of the footwall and hangingwall of the pegmatites
• 178 samples are dedicated to 1m sampling of the pegmatites (i.e. collectively 178m of pegmatite intercepted across all holes)
• 1200m drilled, 15 holes, average hole depth 80m
• 15 holes resulting in an average of 11.8m of pegmatite intercepted per hole (assuming every hole hit the pegmatite)
• Spodumene at surface grading from 2.6-3.7% Li2O (is this representative of the grade below?)
• Go figure what the market would think of multiple 10m intercepts above 2% Li2O in Australia below 100m depth, then throw in a potential high-calibre partner looking to help them

Very interesting comments about the dip of the pegmatites - "a lot flatter than originally projected". They identified that the pegmatites dip steeply to the east, but now they know they are much flatter. Assuming they still dip east, just much shallower, this almost certainly means the pegmatites strike south into Mincor's tenements (red), but also dip east into Mincor's tenements (orange).

And they've been "fielding a lot of interest as a result of this...". By who? Surely not Mincor, they don't care for lithium. Joint Venture on the cards if WIN want to focus on the nickel? And which lithium companies JV with the minnows? But then the JV partner needs to convince Mincor to hand over lithium rights for the tenement to the east and south.