167 km2 of prospective tenure Main discovery at Olympia deposit

Olympia Mineral Resource of 573,000 tonnes @ 1.6% Ni, 1.2% Cu, 0.08% Co and 2.3 g/t Pt+Pd, 2.3% NiEq*

Only 70km from Fisher East

Widespread Ni-Cu-PGE mineralisation and drill targets over ~15km strike length on multiple stratigraphic horizons

Underdone previous exploration

Extensive and quality datasets of drilling and geophysics

Palladium prices climb to a record as Russia-Ukraine war looks to deepen supply deficitLast Updated: March 4, 2022 at 4:18 p.m. ETFirst Published: March 4, 2022 at 1:44 p.m. ET

By

Myra P. Saefong

1

Palladium demand also rising as automobile production recovers from the pandemic

Palladium prices have climbed to their highest level on record as global sanctions on Russia threaten to disrupt the flow of output from one of the world’s largest producers of the metal.Prices for the precious and industrial metal have soared since the start of Russia’s invasion of Ukraine, with a February gain of more than 6%, up for a third month in a row.

On Friday, prices for the June contract PAM22, +8.58% settled at $2,981.90 an ounce, up $251.10, or 9.2%, scoring the highest most-active contract finish since May 2021, based on records going back to November 1984, according to Dow Jones Market Data.Russia produced an estimated 74,000 kilograms of palladium last year, according to the U.S. Geological Survey. That is equal to 2.4 million troy ounces, representing nearly 40% of the world’s total palladium mine production. The data showed Russia as the biggest producer in 2020, while South Africa topped Russian output in 2021.