Announcement PDF ASX Announcement Released 13 December 2023 Wide, high-grade lithium assays confirm Falcon East Extension discovery Significant intercepts from Phase II drilling highlights the potential for scale at Falcon East. Highlights • Multiple high-grade assay results received from recent drilling at Falcon East Extension, confirming the presence of significant lithium mineralisation from surface. • Significant intercepts include: o 20.65 metres @ 1.48% Li2O from 66.6m down-hole, 23FL-081 o 18.95 metres @ 1.65% Li2O from 1.75m down-hole, 23FL-076 o 18.45 metres @ 1.40% Li2O from 37.8m down-hole, 23FL-077 o 17.20 metres @ 0.92% Li2O from 46.8m down-hole, 23FL-071 o 12.90 metres @ 1.36% Li2O from 26.7m down-hole, 23FL-075 • The exciting assay results build on previously reported intercepts from Phase I, including: o 31.75 metres @ 1.45% Li2O (23FL-031) o 27.6 metres @ 1.37% Li2O (23FL-001) • Falcon East emerging as a priority focus for drilling in 2024, with shallow mineralisation confirmed at the first of 30 targets to be tested as part of the Phase II drilling program at Falcon Lake. Battery Age Minerals Ltd (ASX: BM8; “Battery Age” or “the Company”) is pleased to advise that it has received exciting initial assay results from the Phase II drilling program at its 90%owned Falcon Lake Lithium Project in Ontario, Canada. The assay results confirm previously reported visual intercepts of spodumene mineralisation at Falcon East Extension (see ASX announcement, 30 November 2023), validating the Company’s exploration targeting approach and confirming Falcon East as an emerging discovery of scale and significant potential. Falcon East Extension is the first of the 30+ targets generated from the 2023 summer field campaign at Falcon Lake to be drill tested. Battery Age Minerals Ltd ASX: BM8 ACN 085 905 997 batteryageminerals.au T: +61 (8) 6109 6689 E: info@batteryage.au Level 50, 108 St Georges Terrace Perth, WA 6000 PO Box 7310, Cloisters Square Po, WA 6850 Battery Age Interim CEO, Nigel Broomham, commented: “These outstanding assay results have confirmed the presence of thick, high-grade zones of lithium mineralisation at Falcon East Extension, a fantastic result for the team and strong vindication of our exploration approach. The Phase II drilling program, which only commenced a few weeks ago, has already delivered in spades – highlighting the enormous potential across the broader Falcon Lake area. “The results cap off a very busy year for our exploration team at Falcon Lake, where we have generated significant results in rapid time since mobilising our teams in June this year. The drilling team will now take a break and are excited to re-commence drilling operations in the New Year as we continue to drill test the numerous targets generated from the 2023 summer field work campaigns.” A A1 Figure 1 – Cross-section highlighting holes 23FL-076, 23FL-077, 23FL-081 & 23FL082. B B1 Figure 2 – Cross-section highlighting holes 23FL-067, 23FL-069, 23FL070 & 23FL-071. ASX Announcement Released 13 December 2023 2 A1 Figure 3 – Plan view of the Falcon East Extension discovery (for location refer to Figure 4). ASX Announcement Released 13 December 2023 3 ASX Announcement Figure 1 Figure 4 – Plan view of Falcon Lake drilled holes and future targets across the 5km prospective Corridor at Falcon Lake. ASX Announcement Released 13 December 2023 4 ASX Announcement Phase II drilling program at the Falcon Lake Lithium Project, comprising 10,000 – 20,000m of drilling, has been designed to test the new pegmatite discoveries across more than 30 highpriority targets generated from the summer field work programme. [ENDS] Release authorised by the Board of Battery Age Minerals Ltd. Contacts Investors / Shareholders Nigel Broomham Interim Chief Executive Officer P: +61 (0)8 6109 6689 E: info@batteryage.au Media Nicholas Read – Read Corporate P: +61 (0)8 9388-1474 / (0419) 929 046 E: nicholas@readcorporate.com.au Competent Person Statement The information in this Report that relates to Geological Data and Exploration Results for the Falcon Lake Lithium Project is based on, and fairly represents, information and supporting documentation compiled and reviewed by Mr Nigel Broomham (BSc (Hons) Geology & Resource Economics) who is a Member of the Australasian Institute of Mining and Metallurgy (AusIMM) and holds a Professional Certificate in JORC Code Reporting. Mr Broomham is the General Manager – Exploration of Battery Age Minerals. Mr Broomham has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the Joint Ore Reserves Committee (JORC) "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Broomham consents to the inclusion in this report of the matters based on information in the form and context in which they appear. Mr Broomham holds securities in the Company. The Company confirms that it is not aware of any new information or data that materially affects the information included in any original announcement and that all material assumptions and technical parameters underpinning the estimates in the original market announcement continue to apply and have not materially changed. Compliance Statement This report contains information on the Falcon Lake Project extracted from an ASX market announcement dated 26 July 2023, 2 August 203, 16 August 2023, 6 September 2023, 14 September 2023, 5 October 2023 and 25 October 2023 released by the Company and reported in accordance with the 2012 edition of the “Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves” (JORC Code). The original market announcement is available to view on www.batteryage.au and www.asx.com.au. Battery Age is not aware of any new information or data that materially affects the information included in the original market announcement. Forward-Looking Statement 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. Battery Age Minerals 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 Battery Age Minerals 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. ASX Announcement Released 13 December 2023 5 Appendix 1 – Significant Intercepts, Drill Collar Positions & Mineralised Intercepts Hole 23FL-031 23FL-005 23FL-001 23FL-059 23FL-002 23FL-004 23FL-081 23FL-072 23FL-067 23FL-076 23FL-077 23FL-061 23FL-071 23FL-058 23FL-030 23FL-024 23FL-075 23FL-020 23FL-065 23FL-002 23FL-018 23FL-082 23FL-033 23FL-023 23FL-060 23FL-063 23FL-018 23FL-017 23FL-069 23FL-047 23FL-070 From_m 14.65 46.3 16.65 19.65 62 5.7 66.6 48.8 28.5 1.75 37.8 11.95 46.8 11.1 3.7 5.4 26.7 22.05 26.6 7.5 3.6 91.55 57.03 56.05 23.85 10.65 13.75 23.2 32.7 77.7 38.2 Interval_m 31.75 29.75 27.6 27.45 24 21.9 20.65 20.2 19.1 18.95 18.45 18.05 17.2 15.9 14.7 13.35 12.9 11.45 11.15 8.7 8.65 7.9 7.47 7.16 7.15 6.35 6.05 5.89 5.6 5.5 5.2 To_m 46.4 76.05 44.25 47 86 27.62 87.25 69 47.6 20.7 56.25 30 64 27 18.4 18.75 39.6 33.5 37.75 16.2 12.25 99.45 64.5 63.21 31 17 19.8 29.09 38.3 83.2 43.4 Li2O (%) 1.45 0.81 1.37 0.83 0.32 1.44 1.48 0.58 1.34 1.65 1.40 1.02 0.92 0.95 1.5 1.5 1.36 1.33 1.05 1.24 2.04 1.40 1.02 1.63 1.06 1.06 1.23 1.23 1.27 0.73 1.75 Table 1 –Significant Intercepts at Falcon Lake, including recent results highlighted. Intervals are down hole length, true width not known. Hole Length_m UTM_East UTM_North UTM_Elevation Azimuth Dip 23FL-001 56 418403.3 5591981 359 300 60 23FL-002 125 418363.7 5592004.3 360 300 -60 23FL-003 122 418434.4 5591962.6 359 300 -60 23FL-004 44 418391.8 5592037.4 363 300 -60 23FL-005 101 418430.2 5592021.9 361 300 -60 23FL-006 145 418473.8 5591997.4 360 300 -60 ASX Announcement Released 13 December 2023 6 Hole UTM_Elevation Azimuth Dip 23FL-007 Length_m 50 418337.6 5591959.3 358 300 -60 23FL-008 101 418381.2 5591934.7 359 300 -60 23FL-009 140 418424.7 5591910.2 361 300 -60 23FL-010 41 418416.1 5592069.5 362 300 -60 23FL-011 122 418476.5 5592053.2 362 300 -60 23FL-012 53 418313.1 5591915.7 359 300 -60 23FL-013 101 418356.6 5591891.2 361 300 -60 23FL-014 140 418400.2 5591866.6 362 300 -60 23FL-015 305 418440 5591987.7 356 300 -80 23FL-016 140 418443.8 5591842.1 361 300 -60 23FL-017 41 418350 5591981.1 357 300 -60 23FL-018 86 418393.5 5591956.5 354 300 -60 23FL-020 92 418396.4 5592012.3 355 300 -60 23FL-021 101 418440 5591987.7 356 300 -60 23FL-022 41 418399 5592068.2 361 300 -60 23FL-023 110 418442.5 5592043.7 364 300 -60 23FL-024 77 418347.1 5591925.3 358 300 -60 23FL-025 95 418390.6 5591900.7 358 300 -60 23FL-026 89 418434.4 5591876 362 300 -60 23FL-029 74 418420.4 5592056.1 361 300 -60 23FL-030 50 418397 5592051.9 361 300 -60 23FL-031 53 418360 5592029 362 210 -60 23FL-032 68 418360 5592029 362 300 -60 23FL-033 86 418342 5592034 361 210 -60 23FL-034 83.2 420012.6 5591877 339.03 300 -60 23FL-035 50 419988.1 5591834 341.19 300 -60 23FL-036 152 420056.8 5591853 341.41 300 -60 23FL-037 197 420053.5 5591797 342.45 300 -60 23FL-038 185 419957 5591661 356 300 -55 23FL-039 176 419905 5591680 300 300 -60 23FL-040 176 419977 5591675 412 300 -55 23FL-041 194 419949 5591636 412 300 -55 23FL-042 185 419979 5591713 343 300 -55 23FL-043 185 419995 5591830 340 300 -60 23FL-044 155 42062.69 5591388 388 300 -55 23FL-045 122 420673 5591419 388 300 -55 23FL-046 101 420602 5591344 376 300 -55 23FL-047 116 420698 5591463 392 300 -55 23FL-048 101 420734 5591528 391 300 -55 23FL-049 101 420704 5591648 390 300 -55 23FL-050 98 420737 5591584 389 300 -55 23FL-051 77 420663 5591545 384 300 -55 ASX Announcement Released 13 December 2023 UTM_East UTM_North 7 Hole Length_m UTM_East UTM_North UTM_Elevation Azimuth Dip 23FL-052 101 420784 5591562 381 300 -55 23FL-053 101 420430 5591471 383 310 -50 23FL-054 110 420484 5591443 335 310 -50 23FL-055 149 420527 5591468 393 290 -60 23FL-056 152 420474 5591408 379 300 -50 23FL-057 287 420474 5591408 379 310 -80 23FL-058 50 420675 5591531 390 300 -55 23FL-059 89 420675 5591531 390 300 -75 23FL-060 98 420675 5591505 391 300 -55 23FL-061 86 420682 5591505 390 300 -55 23FL-062 92 420688 5591579 388 300 -55 23FL-063 80 420661 5591482 390 300 -55 23FL-064 74 420655 5591458 390 300 -55 23FL-065 95 420696 5591575 389 260 -55 23FL-066 89 420762 5591584 380 270 -55 23FL-067 23FL-068 62 110 420758 420758 5591589 5591589 380 388 70 70 -45 -60 23FL-069 80 420804 5591585 375 270 -45 23FL-070 101 420804 5591585 375 270 -65 23FL-071 110 420705 5591560 390 270 -55 23FL-072 107 420694 5591518 390 270 -60 23FL-073 80 420720 5591656 390 270 -55 23FL-074 101 420745 5591656 389 270 -55 23FL-075 107 420745 5591682 391 270 -55 23FL-076 119 420745 5591707 394 270 -55 23FL-077 92 420770 5591706 395 270 -55 23FL-078 101 420770 5591732 395 270 -55 23FL-079A 19 420795.5 5591757 395 270 -55 23FL-079B 122 420796.5 5591757 395 270 -55 23FL-080 122 420769.8 5591681 387 270 -55 23FL-081 122 420795 5591706 387 275 -55 23FL-082 131 420819 5591706 386 270 -55 23FL-083 107 420770.6 5591655 387 270 -55 Table 2 – Falcon Lake Completed Holes to date. Drill Collar Details. UTM Grid: NAD83_Z16N ASX Announcement Released 13 December 2023 8 Hole From_m To_m Interval Li2O_% 23FL-001 16.65 44.25 27.6 1.36 23FL-002 7.5 16.2 8.7 1.30 23FL-002 62 86 24 0.32 23FL-003 40.18 43.62 3.44 1.09 23FL-004 5.7 27.62 21.92 1.45 23FL-005 46.3 76.05 29.75 0.81 23FL-007 9.05 15.64 6.59 0.33 23FL-007 29 32.52 3.52 1.48 23FL-008 29.8 32.5 2.7 1.00 23FL-008 33.7 34.55 0.85 0.42 23FL-008 39.43 47.28 7.85 0.24 23FL-010 28.75 29.3 0.55 1.34 23FL-014 13.38 14.95 1.57 0.54 23FL-017 14.3 19 4.7 1.00 23FL-017 23.2 29.09 5.89 1.23 23FL-018 3.6 12.25 8.65 2.04 23FL-018 13.75 19.8 6.05 1.23 23FL-018 69.5 80.5 10.55 0.12 23FL-020 22.05 33.5 11.45 1.33 23FL-020 29 33 4 1.93 23FL-021 46.52 48.37 1.85 1.16 23FL-023 56.05 63.21 7.16 1.63 23FL-024 5.4 18.75 13.35 1.50 23FL-024 26.8 30.5 3.7 0.91 23FL-024 37.8 39.6 1.8 0.32 23FL-030 3.7 18.4 14.7 1.50 23FL-031 14.65 46.4 31.75 1.45 23FL-033 53.9 56.54 2.64 1.18 23FL-033 57.03 64.5 7.47 1.02 23FL-034 30.05 32.19 2.14 0.83 23FL-034 32.44 32.89 0.45 1.32 23FL-037 97.45 98.5 1.05 0.14 23FL-037 160.55 161.7 1.15 0.13 23FL-038 112.5 117.95 5.45 0.23 23FL-040 134 139.95 5.95 0.69 23FL-040 141.2 143.75 2.55 0.29 23FL-041 105.25 107.4 2.15 0.72 23FL-041 112.85 116.15 3.3 0.21 23FL-041 118 120.25 2.25 1.95 23FL-041 121.75 122.95 1.2 1.02 23FL-041 133.8 143.6 9.8 0.14 23FL-044 2.75 4.6 1.85 1.21 23FL-045 17.25 19.45 2.2 0.83 ASX Announcement Released 13 December 2023 9 Hole From_m To_m Interval Li2O_% 23FL-045 24.7 27.15 2.45 0.61 23FL-047 77.7 83.2 5.5 0.73 23FL-048 38.99 41.92 2.93 1.16 23FL-050 2.5 5.41 2.91 1.03 23FL-053 2.85 4.05 1.2 0.48 23FL-054 17.6 18.6 1.0 0.42 23FL-054 73.2 73.9 0.7 0.27 23FL-056 98.45 100.15 1.7 1.24 23FL-058 11.1 27 15.9 0.95 23FL-059 19.55 47 27.45 0.83 23FL-060 23.85 31 7.15 1.06 23FL-061 11.95 30 18.05 1.02 23FL-063 10.65 26.6 17 37.75 6.35 11.15 1.06 1.05 23FL-065 23FL-067 23FL-069 28.5 47.6 19.1 1.34 29.20 31.65 2.45 1.60 23FL-069 32.70 38.30 5.60 1.27 23FL-070 38.20 43.40 5.20 1.75 23FL-070 46.20 47.55 1.35 0.38 23FL-071 46.80 64.00 17.20 0.92 23FL-072 48.80 69.00 20.20 0.58 23FL-073 3.80 9.10 5.30 0.48 23FL-074 35.00 39.50 4.50 0.03 23FL-075 26.70 39.60 12.90 1.36 23FL-076 1.75 20.70 18.95 1.65 23FL-077 37.80 56.25 18.45 1.40 23FL-078 17 20 3 0.32 23FL-079B 85.8 87.5 1.7 0.13 23FL-080 50.95 55.60 4.65 1.43 23FL-080 57.80 60.50 2.70 1.58 23FL-081 66.60 87.25 20.65 1.48 23FL-082 91.55 99.45 7.90 1.40 23FL-082 100.85 104.50 3.65 1.02 Table 3 –Mineralised Intervals (>0.1% Li2O) and greater than 0.45m. Intervals are down hole length, true width not known. ASX Announcement Released 13 December 2023 10 Appendix 2 – JORC CODE, 2012 EDITION – TABLE 1 Section 1 Sampling Techniques and Data (Criteria in this section apply to all succeeding sections.) Criteria Sampling techniques JORC Code explanation • Nature and quality of sampling (eg cut channels, random chips, or specific specialised industry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheld XRF instruments, etc). These examples should not be taken as limiting the broad meaning of sampling. • Include reference to measures taken to ensure sample representivity and the appropriate calibration of any measurement tools or systems used. • Aspects of the determination of mineralisation that are Material to the Public Report. • In cases where ‘industry standard’ work has been done this would be relatively simple (eg ‘reverse circulation drilling was used to obtain 1 m samples from which 3 kg was pulverised to produce a 30 g charge for fire assay’). In other cases more explanation may be required, such as where there is coarse gold that has inherent sampling problems. Unusual commodities or mineralisation types (eg submarine nodules) may warrant disclosure of detailed information. Drilling techniques • Drill type (eg core, reverse circulation, openhole hammer, rotary air blast, auger, Bangka, sonic, etc) and details (eg core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core is oriented and if so, by what method, etc). • Method of recording and assessing core and chip sample recoveries and results assessed. • Measures taken to maximise sample recovery and ensure representative nature of the samples. • Whether a relationship exists between sample recovery and grade and whether sample bias may have occurred due to preferential loss/gain of fine/coarse material. • 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 Drill sample recovery Logging ASX Announcement Released 13 December 2023 Commentary • All diamond drill core is NQ (76mm) in this drilling program. • Diamond core sample intervals are logged for lithology, structural and geotechnical information, measured, photographed, and placed into numbered trays prior to sampling. • Core has been sampled on nominal ~1m intervals (0.80 – 1.20m) where possible unless geological boundaries dictate otherwise. • Geological boundaries have not been crossed by sample intervals. • ½ core samples have been split by core saw, collected, and submitted for analysis to AGAT Laboratories along with regular duplicates, standards and blanks in line with QAQC procedures. • The same side of the core is always sampled in-line with procedure. • All holes are NQ diamond drill holes. • A Gyro based system has been used for both rig alignment and downhole measurements on all holes. • All core is depth marked and oriented to check against drillers measurements (blocks), ensuring that all core loss is considered. Diamond core recovery is recorded into the database. • No significant core loss has been observed to date. • All drill cores have been geologically logged. • Geological logging is completed for all holes, and it 11 Criteria JORC Code explanation metallurgical studies. • Whether logging is qualitative or quantitative in nature. Core (or costean, channel, etc) photography. • The total length and percentage of the relevant intersections logged. • • • • Subsampling techniques and sample preparation Quality of assay data and laboratory tests Verification of sampling and assaying • If core, whether cut or sawn and whether quarter, half or all core taken. • If non-core, whether riffled, tube sampled, rotary split, etc and whether sampled wet or dry. • For all sample types, the nature, quality and appropriateness of the sample preparation technique. • 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. • • The nature, quality and appropriateness of the assaying and laboratory procedures used and whether the technique is considered partial or total. • For geophysical tools, spectrometers, handheld XRF instruments, etc, the parameters used in determining the analysis including instrument make and model, reading times, calibrations factors applied and their derivation, etc. • Nature of quality control procedures adopted (eg standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (ie lack of bias) and precision have been established. • • The verification of significant intersections by either independent or alternative company personnel. • The use of twinned holes. • Documentation of primary data, data entry ASX Announcement Released 13 December 2023 • • • • • • • • Commentary is representative. The lithology, alteration, geotechnical and structural characteristics of drill samples are logged following standard procedures and using standardised geological codes. Logging is both qualitative and quantitative depending on field being logged. All drill-holes are logged in full. All drill core are digitally photographed and stored. All core has been cut and sampled at the core processing facility in Armstrong, Ontario. NQ core was split by saw in half, always using the same half for sampling purposes. Duplicate sampling is carried out routinely throughout the drilling campaign in line with QAQC procedure. The laboratory will carry out routine internal repeat assays on crushed samples. Considering the grain size, half core NQ samples are believed to be a representative of the sample. Samples have been submitted to AGAT laboratories. AGAT is an internationally certified independent service provider. Industry standard assay quality control techniques will be used for lithium related elements. Samples are submitted for multi-element ICP analysis Sodium Peroxide Fusion is used followed by combined ICP-OES and ICP-MS analyses (58 elements). No verification of sampling and assaying have been completed by BM8 to date. Selected sample results which are considered to be 12 Criteria Location of data points • • • • JORC Code explanation procedures, data verification, data storage (physical and electronic) protocols. Discuss any adjustment to assay data. Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation. Specification of the grid system used. Quality and adequacy of topographic control. • • • • Data spacing and distribution Orientation of data in relation to geological structure • Data spacing for reporting of Exploration Results. • Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation procedure(s) and classifications applied. • Whether sample compositing has been applied. • Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. • If the relationship between the drilling orientation and the orientation of key mineralised structures is considered to have introduced a sampling bias, this should be assessed and reported if material. Sample security • The measures taken to ensure sample security. Audits or reviews • The results of any audits or reviews of sampling techniques and data. • Commentary significant will be subjected to resampling by the company in the future. The drill hole collar positions in Appendix. 1 have been located by handheld GPS. On completion of drilling program, collar positions will be located by digital GPS and reports updated accordingly. The grid datum is NAD83 Zone 16N. Downhole surveys have been collected approx. every 30m utilizing gyro tool. This is a preliminary drilling campaign and therefore suitable spacing and distribution to establish the degree of geological and grade continuity appropriate for the Mineral Resource and Ore Reserve estimation is yet to be determined. • Drilling has been carried out in order to sample across the strike of the mineralisation, based on surface mapping and limited historical drilling. However, as this drilling is preliminary, further drilling is required to determine the orientation of mineralisation in this area. • At all times samples were in the custody and control of the Company’s representatives until delivery to the laboratory where samples are held in a secure enclosure pending processing. • No external audit has been undertaken at this stage. Section 2 Reporting of Exploration Results (Criteria listed in the preceding section also apply to this section.) Criteria Mineral tenement JORC Code explanation • Type, reference name/number, location and ownership including agreements or material ASX Announcement Released 13 December 2023 • Commentary All claims relating to the Falcon Lake Lithium Project 13 Criteria and land tenure status Exploration done by other parties JORC Code explanation issues with third parties such as joint ventures, partnerships, overriding royalties, native title 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. • Acknowledgment and appraisal of exploration by other parties. • • • • • • Geology • Deposit type, geological setting and style of mineralisation. Drill hole Information • A summary of all information material to the understanding of the exploration results including a tabulation of the following information for all Material drill holes: o easting and northing of the drill hole collar o elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar o dip and azimuth of the hole ASX Announcement Released 13 December 2023 Commentary minerals claims are in good standing and are 90% owned by the company. Please refer to the company prospectus (dated 2nd Feb 2023) Annexure A, Table 3:1 for full table of Falcon Lake mineral claims. No known impediments. British Canadian Lithium Mines Ltd (“BCLM”) completed diamond drill (DD) holes in 1956. No core or collars have been located. Canadian Ore Bodies completed 3 DD holes in 2010. Argonaut Resources NL drilled six holes in 2016. Core and collars have been located. A summary of historical exploration activities is included in the Independent Geologists Report within the Company’s Prospectus (dated 2nd Feb 2023) Annexure A. • The Falcon Lake Project is underlain by Archean supracrustal and plutonic rocks of the Eastern Wabigoon Sub-province of the Superior Province along the northern edge of Lake Nipigon • The Falcon Lake Pegmatite Group consists of several pegmatite dykes that intrude amphibolitised mafic metavolcanic rocks. • These pegmatites are spodumene-subtype and are tantalum-rich. • All drill hole collar locations and mineralised intercepts have been reported in this report for all holes completed to date. • No relevant data has been excluded from this report. 14 Criteria • Data aggregation methods • • • Relationship between mineralisatio n widths and intercept lengths • Diagrams • Balanced reporting • Other substantive exploration data • • JORC Code explanation o down hole length and interception depth o hole length. If the exclusion of this information is justified on the basis that the information is not Material and this exclusion does not detract from the understanding of the report, the Competent Person should clearly explain why this is the case. In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (eg cutting of high grades) and cut-off grades are usually Material and should be stated. Where aggregate intercepts incorporate short lengths of high grade 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. These relationships are particularly important in the reporting of Exploration Results. If the geometry of the mineralisation with respect to the drill hole angle is known, its nature should be reported. If it is not known and only the down hole lengths are reported, there should be a clear statement to this effect (eg ‘down hole length, true width not known’). Appropriate maps and sections (with scales) and tabulations of intercepts should be included for any significant discovery being reported These should include, but not be limited to a plan view of drill hole collar locations and appropriate sectional views. Where comprehensive reporting of all Exploration Results is not practicable, representative reporting of both low and high grades and/or widths should be practiced to avoid misleading reporting of Exploration Results. • Other exploration data, if meaningful and material, 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; ASX Announcement Released 13 December 2023 Commentary • Low-cut of 0.1% Li2O has been applied to reported intercept assay values. • Intercept grades have been calculated by weighted average. • Internal highs have been calculated by selecting the relatively higher-grade internal zone when compared to the entire intercept. These zones are continuous downhole. • No metal equivalent values are reported. • Only downhole lengths are reported. • The exact geometry of the mineralisation is not known as such true width is not known. • Appropriate plan views and x-sections are included. • • • • All collar and mineralisation information have been