Ann: LITHIUM PROJECT GRANT OF EXPLORATION LICENCE-EXC.AX, page-4

Two pronged attack with EXC with cash in the bank now so no more dilution in the short term.

Gold mining fully funded by Pybar to generate shared revenue for EXC. EXC not having to put any funds into this project. Also Pybar to pay EXC $250k for this option.

The historical rock chips grade and prior drilling cores and cutting give EXCs lithium project quite a progressed state to take forward. Systematic exploration to proceed.

Small market capitilisation and tight capital structure too