Quarterly activities, page-5

Rattle,

We did learn pegmatites existed there in width.

Also grade was decent, but thin widths where encountered on grade.

What is important, going back to volcanic activity, is lava travelled in channels and set as pegmatites.

We know the flow entered raidens ground as it did azures, but it did nor crystalize to form lithium in most areas.

Patchy crystalline.

I'd have been more concerned if no wide pegmatites were encountered as that would have meant no in flow zone.

So the hunt is on for pegmatites, that are crystallised.

As some did, they will exist.

About 300m south, little se than south directly could be the zone.

Exploration is not just about find, but ruling out.

We know, not to go north, probably due to Andover Ni deflection.

Nor West. If up from south, deflected Ne a few hundred meters south of campaign drilling.

That leaves us south, south/east predominately of campaign one drilling.

There 16m cash covers around 42,000m of dd if required.

With that capacity, under 5% of Andover Li drilled, free carried on Arrow and Mt scholl JVs, plus vuzel.

Raiden is a much better play than many. Especially at 8m EV with 67% of cap in cash.