Ann: REE and lithium discovered at Dundas, page-137

I emailed CTN today with some questions. Mostly I wanted clarification about the announcements. Here is the email I sent.

I am a long-time holder, and I am reaching out regarding some questions I had about Catalina resources most recent announcements.

My first question:
Are there any assay reports Catalina resources are still waiting to receive regarding the Dundas project? Are there results that haven't been reported yet?

My next questions are relevant to the following:
In the quarterly activities report announced on the 24th of January Catalina resources mentioned blue-green crystallisation discovered in a 5-metre intercept, please see quote below:

Drill hole 22DAC016 intersected a blue-green mineral interpreted to be aqua marine, a gem variety of beryl, pending confirmation by assays. It was intersected over a 5m wide interval in the southern portion of the tenement E63/2046

There is almost an entire page in the quarterly activities report bringing a lot of attention to this statement and including pictures.

This was also mentioned in an interview Catalina resources did with Proactive.

In the announcement dated 27th of February, the results for 22DAC016 are listed along with others in a table.
22DAC016 is listed twice

In the first instance, 22DAC016 is listed as having been tested from 24 to 28 meters
In the second instance, 22DAC016 is listed as having been tested from 32 to 35 meters.

My questions are as follows.

• Are you still waiting on the results for this particular intercept?
• Does Catalina resources intend to investigate this crystallisation more closely?
• The recorded results for 22DAC016 are rather unremarkable in terms of beryl content. If the find was not beryl what were these crystal structures found in the last 5 meters of this drill hole?
• Why wasn't this mentioned in the most recent announcement? For better or worse, holders are looking for clarification about an intercept Catalina resource generated quite a lot of excitement for.

I look forward to your reply.

Here is the reply I received today. They actually responded faster than I thought they would.

Thank you for your email dated 1/3/2023.

We understand your concerns regarding the announcement dated 16/1/2023 and subsequent Quarterly Report. In this announcement the presence of the blue-green crystal discovered in a 5-metre intercept from our drill hole 22DAC016 was highlighted. It was as per geological logging and observation that it was suspected to be aqua Marine, a gem variety of beryl.

Catalina made the announcement under continuous disclosure provisions with the view then that it was material to the results of the drilling program.

All assay results have been received & all material results were reported in the announcement of 27/2/2023. Unfortunately, the assays from drill hole 22DAC016 suggested it was not aqua marine. Assays for that interval were below 5 ppm Beryllium (Be). Hence the assay results for this hole were not reported.

Catalina intends to undertake additional technical studies of the samples and crystals to determine its composition and make an identification. This is necessary not only for identification of the crystal but also for planning deeper RC drilling at the project.

We are not awaiting any further assay reports. The one-meter resplits of the 4m composite samples from the air core drilling will be collected and submitted for analysis in coming weeks.

While the assays have not found aqua marine / Beryllium (Be), the REE anomaly intersections highlight the prospectivity . Significant REE enrichment in the regolith at Dundas is the result of weathering induced clay formation and REEs can be either enriched or depleted in different depth horizons of the regolith. Of note is the presence of anomalous REE mineralisation in bedrock in several holes below the regolith horizons. This suggests potential exists at Dundas for higher grade, higher commercial value, hard rock REE mineralisation.

These very anomalous REE and lithium assays puts Dundas project on the path of a significant REE and lithium discovery in a highly prospective and very underexplored location.

Regards,

Michael Busbridge

Technical Director

Catalina Resources Ltd

Web: www.catalinaresources.com.au

Mob: 0428 924691

Unit 38, 18 Stirling Hwy, Nedlands, WA 6009.

So, this clearly states there was no Beryl found. However, it also states, that these results are actually pretty good for a first drill in an under-explored area, and they have quite a lot of interesting areas to look more closely into.
it is up to individuals to decide what to do with this information, and I just wanted to share the reply I received with anyone who wanted to read it.
But as a holder, I am not going to dump and run at this point as I feel there is potential in this area.