Daily Discussion, page-7182

From the Heritage approval - last announcement: AC progam will be used in North and South (4061) to locate new pegmatites undercover. that will then be RC/DD Drilling. south (4062) straight to RC/DD as soon as awarded and POW finalised.

Mr Dusko Ljubojevic, Managing Director of Raiden commented: “With
the Andover North final heritage survey in hand and majority of POW’s now
submitted, we are ever so close to breaking ground on our Andover permits.
Our planned drill program will incorporate a large Air Core, diamond and rotary circulation drilling
program across the entire project area, specifically E47/4061&2 where numerous stacked and
mineralised lithium pegmatites have already been identified. The planned AC program will most likely
commence first, as soon as the POW’s are approved and we anticipate that our diamond and rotary
circulation programs will follow shortly thereafter. The Company will provide an update to the market
in regard to the likely schedule for drill commencement and management will be finalising drill
contractor negotiations in the following weeks.
I, once again would like to thank the Ngarluma Traditional Owners, the Ngarluma Aboriginal Corporation and our consultants for all their assistance
with respect to finalising the heritage surveys.”

Heritage Survey Results
The Company has received the final heritage report for the Andover North Project from the
Ngarluma Aboriginal Corporation (“NAC”). No changes from the preliminary heritage survey
report have been flagged3
, and therefore the Company can reconfirm that that an AC drilling
program will be carried out over the key prospects, which management believe have the
potential for pegmatite hosted Li2O mineralisation across the Andover North project.
As previously announced, the AC drilling program will aim to define further potential
pegmatite hosted mineralisation on the project within tenements E47/3849 and E47/4063 at
Andover North, and those areas of Andover South, specifically E47/4061, where potential
pegmatite hosted mineralisation may be obscured by a thin sediment cover.
POW’s for 3 tenements (E47/4061, E47/3849 & E47/4063) have now been submitted to
DEMIRS for approval. Management are planning to commence the AC drilling program as
soon as the POW’s are approved. The operational objective of the program will be to define
further pegmatite hosted potential across the project area, which would then be followed
up through RC and diamond drilling, in parallel with diamond/RC drilling on Andover South.
Management is undertaking discussions with drilling contractors with the objective of
commencing with the drilling program as soon as the regulatory conditions for drilling have
been approved. A prescribed schedule will be provided to the market in the near term, as
well as details of the planned drilling program