Ann: Mamba Investor Presentation Dec 2022, page-92

Hi Salpetie

i have only just read you pdf now didn't see it before.

very good overall analysis compare to mt weld.

just a few notes.

• the prxf results will not be reported as Mike says they are too unreliable with REE
• The 3 samples they assayed from licograph 660m graphite 2022 drilling were chosen via pXRF by licograph I assume for all similar high reading
• The 660m samples all contained graphite. No non graphite samples were pXRFd. This round of 22 hole AC drilling, Everything will be assayed for TREO.
• The 3 samples obviously had a massive difference in REE with the 4.6% at 12m deep and the others around 31m deep( high grade at surface). Maybe this was a shock to licograph because the pXRF may have had the 4.6% a lot lower. Therefore massive upside in very selective bias assaying.
• There were no samples were taken from site and pXRFed above the 4.6% 12m stratigraphy or below, meaning the hole could have a lot my TREO above and below.
• This hole has been duplicated with full assaying above and below with 22 hole AC campaign
• Guys on here have linked to high xenotime/yttrium, maybe browns range hydrothermal type or alkaline rock, either way it's high value TREO assembly
• the 45days option is after the mines department approves the Tennant lease which will end up around May-june. Plenty of time

hoping for more high grade when results due end of February, which I think is a certainty considering they are assaying the same hole above and below the graphite intersection.

if this is supergene, then potential for higher grades and top everywhere coming from a carbonatite,

if it's hydrothermal then could plunge down in a north south strike with the rock complex.

will be very interesting! end of Feb ! Fingers crossed