Ann: JORC Resource at Arcadia confirm large scale Lithium Deposit-PSC.AX, page-2

A maiden Mineral Resource has been declared containing:
 36Mt grading at 1.17% Li2O (425,000t contained Li2O)
 31Mt grading at 1.22% Li2O (Measured, Indicated and Inferred), classified as fresh rock
 19Mt grading at 1.17% Li2O (Measured and Indicated), classified as weathered and fresh rock

SUMMARY

 Definition of a Maiden Mineral Resource estimate of 36Mt grading 1.17% Li2O and 107ppm Ta2O5 (for 425 000t of contained Li2O and 9 Mlb of Ta2O5);
 Measured, Indicated and Inferred Mineral Resources of 31 Mt grading @ 1.22% Li2O declared, comprising 86% of Total Mineral Resource (fresh rock)
 Measured and Indicated Mineral Resources of 19 Mt grading @ 1.17% Li2O declared, comprising 53% of Total Mineral Resource (weathered and fresh rock)
 Revised Exploration Target is 80 - 100Mt @ 1.1 - 1.4% Li2O*

 Following the definition of the Mineral Resource estimate, work has begun on a provisional mine plan, which will underpin the Scoping Study aiming for completion by the end of 2016.

 This maiden Mineral Resource estimate is based on the results of the Phase 1 diamond drilling programme (1,387m) and the Phase 2 Reverse Circulation (RC) drilling programme (2,070m).  Phase 3 drilling with 3 diamond drill rigs and 2 RC drill rigs has been active since early October with the aim of increasing confidence in, and extending the Mineral Resource along strike (both to the south west and northeast) , and down-dip.

 Less than 20% of the area under mining license has been drilled to date  Numerous surface targets have been identified and are being tested