Ann: New Significant REE Discovery South of Minos, page-2

Highlights

• Initial assay results confirm significant REE mineralisation 1200m south of Minos trend
• 23m thick zone of TREO enrichment in weathering profile
• Significant REE clay hosted intersections include:
➢ 17m @ 1,619ppm TREO from 64m (LLAC082) including,
o 14m @ 509ppm MREO from 67m including,
o 2m @ 2,597ppm TREO and 900ppm MREO from 71m
➢ 23m @ 1,373ppm TREO from 32m (LLAC081) including:
o 8m @ 638ppm MREO from 37m including,
o 1m @ 4,431ppm TREO from 38m and
o 1m @ 1086ppm MREO from 38m and,
o 2m @ 1122ppm MREO from 43m
➢ 23m @ 734ppm TREO from 34m (LLAC080) including 3m @ 1,047ppm TREO from 48m
• New zone contains high grade clay hosted TREO with a significant MREO component
• High grade MREO (>300ppm) horizontal layer present similar to NW end of Minos
• Remaining Phase 1 Minos REE assay results (69 holes) expected end February 2023