Announcement PDF ASX Announcement 8 July 2024 Bulk Ore Sorting Testwork Achieves High Spodumene Recovery and Improved Feed Grades Highlights • Feasibility-level ore sorting test work completed on bulk sample of Mavis Lake ore. • Test work confirms suitability of Mavis Lake ore to pre-concentration by ore sorting. • Results achieved a 30% increase in feed grade. • Lithia grades increased by 30%, from 1.00% Li2O in sorter feed to 1.30% Li2O in sorter product. • Bulk XRT ore sorting rejected 97% of waste rock, removing 96% of iron minerals. • Iron was effectively reduced from 7.52% Fe2O3 in sorter feed to 0.49% Fe2O3 in sorter product. • Near 100% spodumene recovery to product. • Pre-concentration of mined ore can reduce the capital required for plant construction, enables lower processing costs and increased spodumene concentrate production. Lithium exploration and project development company Critical Resources Limited ASX:CRR (“Critical Resources” or “the Company”) is pleased to report outstanding results from its current phase of metallurgical test work (bulk testing) on ore from the Mavis Lake Lithium Project in Ontario, Canada. Feasibility Level Testing Methodology Critical Resources commenced its feasibility level metallurgical test work program in May 2024. A total of 1,650kg of drill core was submitted to Saskatchewan Research Council (SRC) for feasibilitylevel testing. The sample suite of drill core represents 11 pegmatite intercepts totaling 196m across four HQ drill holes, from a range of spatial locations within the current mineral resource estimate (MRE) at Mavis Lake. The sample suite included ore from depths ranging from 52.7m – 249.3m below surface. The sample suite also comprised waste rock intended to be representative of typical dilution expected from conventional mining methods. The samples were separated into two lithology composites. The Standard Pegmatite composite consists of pegmatites more than 0.5m from the host rock contact zone. These pegmatite samples comprised zero (0) waste rock dilution and are generally coarser grained. This is the predominant pegmatite mineralogy at Mavis Lake. Critical Resources Limited ABN 12 145 184 667 ASX:CRR Level 45, 108 St Georges Terrace, Perth WA 6000 P. +61 (8) 9465 1024 W. criticalresources.com.au E. info@criticalresources.com.au The Contact Zone Pegmatite composite consists of pegmatites within 0.5m of the host rock contact zone. These pegmatite samples are generally finer grained and more altered. The Contact Zone Pegmatite composite also comprised ~40% waste rock to reflect worst case mining dilution. Although Contact Zone pegmatites are a minority within the Mavis Lake deposit, their distinct mineralogy and increased likelihood of mining dilution warrant in depth metallurgical investigation. Ore sorting has become increasingly adopted in hard rock lithium mining to effectively pre-treat contact zone pegmatites. Ore sorting is employed to reject waste rock and mining dilution from ROM feed, pre-concentrating the ore prior to downstream processing. This has the advantage of increasing feed grades to the processing plant, de-bottlenecking dense medium separation (DMS) and flotation circuits, increasing spodumene production and improving concentrate quality. Testing Process The Contact Zone Pegmatite was crushed and screened to +25mm -75mm. A 680kg sub sample was then subjected to bulk XRT ore sorting to separate waste rock from pegmatite. Testwork results summarised in Table 1 and Table 2 show that ore sorting achieved 40% mass rejection to waste, removing 100% of iron bearing waste minerals ferrohornblende and holmquistite as seen in figure 1. Spodumene recovery to sorter product was 100%. Lithia grades increased by 30%, from 1.00% Li2O in sorter feed to 1.30% Li2O in sorter product. Iron was effectively reduced from 7.52% Fe2O3 in sorter feed to 0.49% Fe2O3 in sorter product. Table 1 - Bulk XRT Sort - Mass Balance and Assays Mass Assays (wt%) Stream kg % Li2O Fe2O3 SiO2 Al2O3 K2O Na2O MnO CaO MgO XRT Product 408.5 60 XRT Waste 1.30 0.49 74.2 16.8 2.65 4.40 0.08 0.3 0.1 271.7 40 0.53 18.10 51.7 13.6 0.48 1.88 0.33 8.4 4.1 Feed (calc.) 680.2 100 1.00 7.52 65.2 15.5 1.78 3.39 0.18 3.5 1.7 Table 2 - Bulk XRT Sort - Mineral Balance Mass Distribution (%) Stream kg % Spodumene Quartz Albite Orthoclase Muscovite Ferrohornblende Holmquistite XRT Product 408.5 60 XRT Waste 100 66 82 100 100 0 0 271.7 40 0 34 18 0 0 100 100 Feed (calc.) 680.2 100 100 100 100 100 100 100 100 Page 2 of 15 Figure 1 - Bulk ore sorting results showing mafic waste rock (top) separated from Contact Zone pegmatite (bottom) Page 3 of 15 The bulk ore sorting testwork results confirm the findings of amenability studies completed earlier this year (refer to ASX Announcement 2 May 2024). Mavis Lake ore is highly amenable to preconcentration by XRT sorting in the coarse, dry phase of the flowsheet. The ability to reject mining dilution prior to processing helps unlock the full potential of the Mavis Lake resource. By removing iron bearing minerals early in the beneficiation flowsheet (refer to figure 2), the performance of both dense medium separation (DMS) and flotation processes can be optimised. This facilitates higher plant throughout rates, increased spodumene recoveries and an improved spodumene concentrate quality. Figure 2 – Proposed Flowsheet for Mavis Lake ore Page 4 of 15 Figure 3 – XRT Testing Facility at SRC Canada This announcement has been approved for release by the Board of Directors. -endsFor further information please contact E: info@criticalresources.com.au P: +61 (8) 9465 1024 Page 5 of 15 ABOUT CRITICAL RESOURCES LIMITED Critical Resources is focused on the exploration, development and delivery of the critical metals required for a decarbonized future, underpinned by a portfolio of lithium projects in Ontario, Canada which are ideally positioned to participate in the rapidly growing North American battery materials supply chain. The Company’s principal focus is on its flagship Mavis Lake Lithium Project in Ontario, Canada, where it has completed over 45,000m of drilling and defined a maiden Inferred Mineral Resource of 8Mt grading 1.07% Li2O. Recent exploration success has demonstrated substantial potential to expand this resource and make new discoveries in the surrounding area. Critical is progressing a dual-track strategy at Mavis Lake of targeting resource growth in parallel with multiple permitting and project development workstreams. ABOUT SASKATCHEWAN RESEARCH COUNCIL The Saskatchewan Research Council (SRC) is Canada’s second largest research and technology organization. SRC focuses its efforts on the mining, minerals, agriculture and energy sectors, and the environmental considerations that are important across each sector. SRC’s Mining and Energy Division provides applied research, development and demonstration to exploration and mining companies, as well as oil and gas producers and pipeline operators. The Mineral Processing Business Unit provides leading-edge solutions to mining and mineral clients. Services focus on RD&D for uranium, potash, rare earths, lithium, diamonds, gold, base metals, industrial minerals (mineral sands, quartz, feldspars) and other priority minerals. COMPETENT PERSONS STATEMENT The information in this ASX Announcement that relates to Metallurgical results is based on information compiled by Mr Brady Jenkins, a Competent Person who is a Member of the Australian Institute of Mining and Metallurgy (MAusIMM). Mr Jenkins is an employee of Critical Resources. Mr Jenkins has sufficient experience in mineral processing of this nature to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr Jenkins consents to the inclusion in this Announcement in the form and context in which it appears. The information in this ASX Announcement that relates to Exploration Results is based on information compiled by Mr. Troy Gallik (P. Geo), a Competent Person who is a Member of the Association of Professional Geoscientists of Ontario. Troy Gallik is a full-time employee of Critical Resources. Mr. Gallik has sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves”. Mr. Gallik consents to the inclusion in this Announcement of the matters based on his information in the form and context in which it appears. FORWARD LOOKING STATEMENTS This announcement may contain certain forward-looking statements and projections. Such forward looking statements/projections are estimates for discussion purposes only and should not be relied upon. Forward looking statements/projections are inherently uncertain and may therefore differ materially from results ultimately achieved. Critical Resources Limited does not make any representations and provides no warranties concerning the accuracy of the projections and disclaims any obligation to update or revise any forward-looking statements/projects based on new information, future events or otherwise except to the extent required by applicable laws. While the information contained in this report has been prepared in good faith, neither Critical Resources Limited or any of its directors, officers, agents, employees or advisors give any representation or warranty, express or implied, as to the fairness, accuracy, completeness or correctness of the information, opinions and conclusions contained in this announcement. Page 6 of 15 Appendix 1 – Samples and Related Exploration Results Table A1-1 - ICP Assays - Ore Sorting Products XRT Stream Li ppm Li2O wt % Fe2O3 wt % SiO2 wt % Al2O3 wt % K2O wt % Na2O wt % MnO wt % CaO wt % Assays MgO wt % P2O5 wt % TiO2 wt % Ba ppm Cr ppm Sc ppm Sr ppm Y ppm Zr ppm LOI wt % Product 6060 1.30 0.49 74.2 16.8 2.65 4.4 0.08 0.27 0.06 0.27 0.02 12 173 <2 38 <2 21 0.50 Waste 2480 0.53 18.1 51.7 13.6 0.48 1.88 0.33 8.42 4.06 0.20 1.46 87 83 37 157 44 131 0.40 Table A1-2 - XRD Assays - Ore Sorting Products XRD Mineralogy Spodumene wt % Quartz wt % Albite wt % Orthoclase wt % Muscovite wt % Ferrohornblende wt % Holmqistite wt % Total wt % Product 16.2 30.1 37.3 11.7 4.8 0.0 0.0 100.1 Waste 0.0 23.2 12.6 0.0 0.0 44.4 19.8 100 XRT Stream Table A1-3: List of samples taken for metallurgical testwork composite. Samples for Metallurgical Testwork Twinned Hole Core Type From (m) To (m) Length (m) Est. Sample (kg) MET23-002 MF22-121 HQ 46.0 64.5 18.5 155 MET23-003R MF22-116 HQ 52.7 54.7 2.0 17 MET23-003R MF22-116 HQ 54.7 76.0 21.3 178 MET23-003R MF22-116 HQ 76.0 82.8 6.8 57 MET23-003R MF22-116 HQ 87.0 100.3 13.3 112 MET23-003R MF22-116 HQ 110.5 123.3 12.8 108 MET23-004 MF22-163 HQ 81.5 108.0 26.5 223 MET23-004 MF22-163 HQ 112.1 123.6 11.5 97 MET23-004 MF22-163 HQ 131.3 142.9 11.6 97 MET23-005 MF23-207 HQ 177.6 186.0 8.4 71 MET23-005 MF23-207 HQ 186.0 249.3 63.3 532 Drill Hole Page 7 of 15 JORC Table 1 – MET23-002, MET23-003R, MET23-004, MET23-005 Section 1: Sampling Techniques and Data (Criteria in this section apply to all succeeding sections) Criteria JORC-Code Explanation Commentary Sampling techniques Nature and quality of sampling • Drill core samples were provided by drill holes from the 2022 (e.g., cut channels, random and 2023 Mavis Lake Drill Program performed by Critical Resources Limited. chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, • Oriented NQ core was cut in half and quarters using a such as down hole gamma diamond saw. sondes, or handheld XRF instruments, etc). These • No other measurement tools other than directional survey examples should not be taken tools have been used in the holes at this stage. as limiting the broad meaning • Oriented core was placed V-rail and a consistent cut-line of sampling. drawn along core to ensure cutting (halving) of representative samples. • Sampling is conducted based on core logging, 100% of drill hole core is logged. The core logger is a geologist, has Include reference to measures experience in lithium mineralisation, and determines the taken to ensure sample intervals of samples. All pegmatite intersections are sampled representivity and the regardless of the visual presence of lithium appropriate calibration of any minerals/spodumene. Host rock is typically not sampled as measurement tools or systems lithium mineralisation is localized to pegmatites (spodumene used. mineral) or their alteration halos (holmquistite mineral) within mafic volcanic host rock. Aspects of the determination of mineralisation that are Material • Determination of mineralisation has been based on to the Public Report. In cases geological logging and photo analysis. where ‘industry standard’ work has been done this would be relatively simple (e.g., ‘reverse • Diamond Core drilling was used to obtain 3m length circulation drilling was used to samples from the barrel which are then marked in one obtain 1 m samples from which metre intervals based on the drillers core block 3 kg was pulverised to produce measurement. a 30 g charge for fire assay’). In other cases more explanation • Ore sorting testing samples are selected based on lithology may be required, such as and geological logging boundaries or on the nominal metre where there is coarse gold that marks. has inherent sampling problems. Unusual commodities or mineralisation types (e.g., • Samples sent to SRC were bagged on site with security tags, submarine nodules) may warrant disclosure of detailed shipped to Saskatchewan Research Council (SRC) via vehicle transport and recovered by SRC Laboratory in Saskatoon, information. Saskatchewan Canada. Drilling 23techniques Drill type (e.g., core, reverse • NQ2 and HQ2 diamond double tube coring by Cyr Drilling’s circulation, open-hole hammer, EF-50 rig was used throughout the hole. rotary air blast, auger, Bangka, • Core orientation was carried out by the drilling contractor. sonic, etc) and details (e.g., core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type whether core Page 8 of 15 Criteria JORC-Code Explanation Drill sample recovery Method of recording and • Lithological logging, photography assessing core and chip sample recoveries and results assessed. • Core samples were measured with a standard tape within the core trays. Length of core was then compared to the interval drilled, and any core loss was attributed to individual rock units based on the amount of fracturing, abrasion of core contacts, and the conservative judgment of the core logger. Results of core loss are discussed below. Measures taken to maximise sample recovery and ensure representative nature of the samples. Commentary • Experienced driller contracted to carry out drilling. • In broken ground the drillers produced NQ core from short runs to maximise core recovery. • Core was washed before placing in the core trays. • Core was visually assessed by professional geologists before cutting to ensure representative sampling. Whether a relationship exists between sample recovery and • See “Aspects of the determination of mineralisation that are Material to the Public Report” above. grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. Logging Whether core and chip samples have been geologically and geotechnically logged to a level of detail to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. • Core samples were geotechnically logged. • Core samples have been geologically logged to support appropriate Mineral Resource estimation, mining studies and metallurgical studies. • The core logging was qualitative in nature. • All core was photographed Whether logging is qualitative •Total length of the MF22-064 was 185m or quantitative in nature. Core • 100% of the relevant intersections were logged. (or costean, channel, etc) photography. Total length of the MF22-121 was 137m The total length and percentage of the relevant intersections logged. • 100% of the relevant intersections were logged. Total length of the MF23-192 was 327.75m • 100% of the relevant intersections were logged. Total length of the MF23-215 was 368m • 100% of the relevant intersections were logged. Total length of the MF23-219 was 299m • 100% of the relevant intersections were logged. Total length of the MF23-230 was 425m • 100% of the relevant intersections were logged. Total length of the SZ23-002 was 173m • 100% of the relevant intersections were logged Total length of the SZ23-005 was 110m Page 9 of 15 Criteria JORC-Code Explanation Commentary • 100% of the relevant intersections were logged Total length of the SZ23-006 was 200m • 100% of the relevant intersections were logged Total length of the SZ23-007 was 113m • 100% of the relevant intersections were logged Total length of the SZ23-009 was 182m • 100% of the relevant intersections were logged Sub-sampling If core, whether cut or sawn •Oriented core was placed V-rail and a consistent cut-line techniques and and whether quarter, half or all drawn along core to ensure cutting (halving) of sample core taken. representative samples. preparation •Core sample intervals were based in logged mineralisation If non-core, whether riffled, tube sampled, rotary split, etc •No duplicates or second half-sampling. and whether sampled wet or dry. • Appropriate method: oriented NQ and HQ core cut in half using a For all sample types, the nature, quality and appropriateness of diamond saw, with a half core sent for assay and half core the sample preparation retained. technique. • Core samples were sent to Saskatchewan Research Council (SRC) Laboratory for the purposes of mineralogical analysis and ore sorting testwork. Quality control procedures adopted for all sub-sampling stages to maximise representivity of samples. Measures taken to ensure that the sampling is representative of the in situ material collected, including for instance results for field duplicate/second-half sampling. Whether sample sizes are appropriate to the grain size of the material being sampled. Quality of assay The nature, quality and • Samples were previously assayed from accredited lab – data and appropriateness of the assaying Activation Laboratories. laboratory tests and laboratory procedures • Methods appropriate for style of mineralisation: used and whether the technique is considered partial UT-7 (Li up to 5%) QOP Sodium Peroxide (Sodium Peroxide or total. Fusion ICPOES + ICPMS. Page 10 of 15 Criteria JORC-Code Explanation Commentary For geophysical tools, • Assays were released in previous announcements. spectrometers, handheld XRF • Either standards or blanks are inserted every 10th sample instruments, etc, the interval as a part of a QAQC process. Standard and blank parameters used in determining results from recent drilling are within acceptable margins of the analysis including error. instrument make and model, reading times, calibrations • Activation Laboratory performs internal QA/QC measures. factors applied and their Results are released once all internal QA/QC is verified and derivation, etc. confirmed to be acceptable. Nature of quality control • Samples sent to SRC were bagged on site with security tags, procedures adopted (e.g., shipped to Saskatchewan Research Council (SRC) via vehicle standards, blanks, duplicates, transport and recovered by SRC Laboratory in Saskatoon, external laboratory checks) Saskatchewan Canada. and whether acceptable levels of accuracy (i.e., lack of bias) • The ore sorting testing samples were sent to an accredited laboratory – SRC Laboratory in Saskatoon, Saskatchewan, and precision have been Canada. established. • Additional assay analysis was conducted by SGS on the concentrates Verification of sampling and assaying The verification of significant intersections by either independent or alternative company personnel. • No independent verification completed at this stage. The use of twinned holes. • No adjustments to the laboratory assay data. Documentation of primary data, data entry procedures, data verification, data storage (physical and electronic) protocols. • Core measured, photographed and logged by geologists. Digitally recorded plus back-up records. • No assay cut off grades are applied. Discuss any adjustment to assay data. Location of data points Accuracy and quality of • Drill collars initially recorded with Garmin GPS that has an surveys used to locate drill holes accuracy in the order of ±3 metres for location. A registered (collar and down-hole surveys), surveyor utilized DPGS survey with an accuracy of +/- 0.30m trenches, mine workings and other locations used in Mineral Resource estimation. • WGS 1984 UTM Zone 15N. Specification of the grid system used. Quality and adequacy of topographic control. • No specific topography survey has been completed over the project area. Page 11 of 15 Criteria JORC-Code Explanation Data spacing Data spacing for reporting of and distribution Exploration Results. Commentary • Not relevant to current drilling. Whether the data spacing, and • Not relevant to current drilling. distribution is sufficient to establish the degree of geological and grade •Core sample intervals were based in logged mineralisation continuity appropriate for the and no sample composting applied. Reporting of final results Mineral Resource and Ore includes many weighted average- composting of assay data. Reserve estimation procedure(s) and classifications applied. Whether sample compositing has been applied. Orientation of Whether the orientation of • The orientation of the mineralisation is unknown. The drilling data in relation sampling achieves unbiased program is aimed at determining orientation of the to geological sampling of possible structures mineralisation. structure and the extent to which this is known, considering the deposit • If orientation of mineralisation is known or thought to be known, drill holes are planned to intersect at an appropriate type. angle relative to true width of the mineralisation. Intercepts If the relationship between the with mineralisation released are given as downhole widths, not true widths unless true widths are stated. drilling orientation and the orientation of key mineralised structures is considered to have • It is uncertain whether sampling bias has been introduced, introduced a sampling bias, this or whether the thickness drilled is a true thickness. should be assessed and reported if material. Sample security The measures taken to ensure sample security. • Core samples were stored at the Dryden core yard and core shack under lock and key before delivery • Samples sent to SRC were bagged on site with security tags, shipped to Saskatchewan Research Council (SRC) via vehicle transport and recovered by SRC Laboratory in Saskatoon, Saskatchewan Canada. Audits or reviews The results of any audits or • Not undertaken at this stage. reviews of sampling techniques and data. Section 2: Reporting of Exploration Results (Criteria listed in the preceding section also apply to this section) Page 12 of 15 Criteria JORC-Code Explanation Commentary Mineral Type, reference • The Mavis Lake Lithium Project consists of 1097 unpatented Single tenement and name/number, location Cell Mining Claims and six separate surface leases which secure the and ownership including surface rights of the land required for the Project footprint. land tenure agreements or material status issues with third parties such as joint ventures, • All claims and leases are active and in good standing. The leases partnerships, overriding have a term of 21 years and are not set to expire until 2032, at which royalties, native title time they can be renewed for an additional 21 years if required. interests, historical sites, wilderness or national park and environmental settings. The security of the tenure held at the time of reporting along with any known impediments to obtaining a licence to operate in the area. Exploration Acknowledgment and • Previous exploration has been conducted by a number of parties done by other appraisal of exploration including Lun-Echo Gold Mines Limited (1956), Selco Mining by other parties. parties Corporation (1979-1980), Tantalum Mining Corporation of Canada Limited (1981-1982), Emerald Field Resources (2002), International Lithium Corp (2006-2021) and Pioneer Resources Limited/Essential Metals Limited (2018-2021). Geology Drill hole Information Deposit type, geological • The Fairservice and Mavis Lake Prospects host zoned pegmatites setting and style of that are prospective for lithium and tantalum mineralisation. A summary of all information material to To the understanding of the Hole ID Easting Northing RL Azi Dip Depth exploration results including a tabulation of MF22-121 524603.3 5518047 435.67 190.1 -70.1 137 the following information 524254.3 5518025 445.371 319.9 -80.2 185 for all Material drill holes: MF22-64 MF23-192 523901.1 5518034 425.466 339.9 -69.7 327.75 MF23-215 524082.9 5518047 439.333 355 -68 368 Elevation or RL (Reduced MF23-219 Level – elevation above MF23-230 sea level in metres) of the drill hole collar SZ23-002 523905.8 5518034 425.562 355 -65 299 524300.6 5517994 444.467 348 -73 425 524915.6 5517461 414.895 290 -44.7 173 Dip and azimuth of the hole SZ23-005 524841.3 5517581 419.713 109.9 -45.5 110 down hole length and interception depth SZ23-006 524840.7 5517580 419.744 45 -45.4 200 SZ23-007 524840.1 5517580 419.717 110 -60 113 SZ23-009 524770.8 5517620 430.739 109.8 -45.3 182 Easting and northing of the drill hole collar hole length. Page 13 of 15 Criteria JORC-Code Explanation Commentary If the exclusion of this information is justified on the basis that the information is not All drill collars are re-surveyed at a later date upon completion of drill Material and this hole for accurate collar coordinates. exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case. Data aggregation methods In reporting Exploration • Uncut. Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g., cutting • All aggregate intercepts detailed on tables are weighted averages. of high grades) and cutoff grades are usually Material and should be stated. Where aggregate • None used intercepts incorporate short lengths of highgrade results and longer lengths of low grade results, the procedure used for such aggregation should be stated and some typical examples of such aggregations should be shown in detail. The assumptions used for any reporting of metal equivalent values should be clearly stated. Relationship These relationships are • True width is calculated from logging geologists structural between particularly important in measurements from upper and lower contacts of pegmatite dyke mineralisation the reporting of and the host rock. Both apparent downhole lengths and true widths widths and Exploration Results. are provided. intercept If the geometry of the lengths mineralisation with respect to the drill hole • The precise geometry is not currently known but is being tested by angle is known, its nature the planned drilling, with diamond drill hole azimuths designed to drill normal to the interpreted mineralised structure. should be reported. If it is not known and only the down hole lengths • Only down-hole length reported, when true width not known. are reported, there should be a clear statement to this effect Page 14 of 15 Criteria JORC-Code Explanation Commentary (e.g., ‘down hole length, true width not known’). Diagrams Balanced reporting Other substantive exploration data Further work Appropriate maps and • The drilling is aimed at clarifying the structure of the mineralisation. sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not Where comprehensive • Representative reporting of all relevant grades is provided in tables reporting of all to avoid misleading reporting of Exploration Results. Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to a oid misleading Other exploration data, if • Overview of exploration data leading to selection of drill targets meaningful and material, provided. should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential The nature and scale of • Further exploration, resource defining, and metallurgical drilling will planned further work continue to commence throughout the Mavis Lake Project Area. (e.g., tests for lateral Ongoing field programs and geophysical surveys may be conducted. extensions or depth extensions or large-scale step-out drilling). Page 15 of 15