Announcement PDF 18 June 2024 SIGNIFICANT LITHIUM DISCOVERY IN INAUGURAL DRILL CAMPAIGN AT RED MOUNTAIN PROJECT, USA Assays from first three holes intersect high-grade lithium mineralisation Key Highlights • High-grade lithium clay mineralisation discovered at Red Mountain Project in Nevada, with the first three holes of the maiden drill campaign all returning highgrade results. • RMRC001 : 59.4m @ 1,300ppm Li from 73.2m. • RMRC002 : 15.2m @ 810ppm Li from 15.2m. • RMRC003 : 6.10m @ 1,050ppm Li from surface and 12.2m @ 1,060ppm Li from 18.3m • Intersections span over 4.6km of strike at the Project. • Maiden drill campaign now complete, with a total of 11 holes drilled for a combined 1,518m • Assay results for the remaining eight drill holes expected by the end of July. Astute Metals NL (ASX: ASE) (“ASE”, “Astute” or “the Company”) is pleased to advise that assays results from the first three holes of the maiden RC drilling campaign at its 100%-owned Red Mountain Lithium Project in Nevada, USA have returned high-grade mineralisation, indicating the potential discovery of a significant lithium deposit. The assay results included the following high-grade drill intersections: • RMRC001 : 59.4m @ 1,300ppm Li / 0.69% Lithium Carbonate Equivalent1 (LCE) from 73.2m • RMRC002 : 15.2m @ 810ppm Li / 0.43% LCE from 15.2m • RMRC003 : 6.1m @ 1,050ppm Li / 0.56% LCE from surface, and 12.2m @ 1,060ppm Li / 0.56% LCE from 18.3m A total of 11 holes were drilled for a combined 1,518m as part of the maiden RC drilling campaign, which targeted lithium clay mineralisation in zones of strong soil anomalism and/or rock chip anomalism with a view to understanding the thickness and grade potential of the project (Table 1 and Figure 1). These initial results have confirmed the anticipated discovery of sub-surface lithium mineralisation at Red Mountain, which has clear potential to emerge as a significant project in the context of North American exploration efforts for battery metals. Once assays for the remaining drill holes have been received by the Company, results will be collated and interpreted in order to guide the next steps for exploration at the project, which is now expected to include a follow-up drilling campaign in the second half of the calendar year. The remaining assays are expected to be received in two batches in early and late July. Suite 6, Level 5, 189 Kent St, Sydney NSW 2000 | GPO Box 2733, Sydney NSW 2001 +61 (0) 2 8046 2799 | admin@astutemetals.com www.astutemetals.com Astute Chairman, Tony Leibowitz, said: “This is a very exciting start to our drilling campaign at Red Mountain, with all three of our initial drill holes intersecting high-grade lithium mineralisation. The results have been returned over 4.6km of strike, indicating the potential for a major new discovery. We are now eagerly awaiting the results from the remaining eight holes, which are expected to be received in July, with assays from all holes to be integrated into an updated geological model for Red Mountain with a view of expediting the process to achieving a maiden resource for our Red Mountain Project.” Figure 1. Drill-hole locations and intersections, and gridded soil sample geochemistry over aerial image. Suite 6, Level 5, 189 Kent St, Sydney NSW 2000 | GPO Box 2733, Sydney NSW 2001 +61 (0) 2 8046 2799 | admin@astutemetals.com www.astutemetals.com About Lithium Carbonate Equivalent (LCE) Unlike spodumene concentrate, which is a feedstock for a value-added battery product, Lithium Carbonate is a principal lithium-ion battery product, which may be used directly in battery production or converted to other battery products such as lithium hydroxide. The Benchmark Mineral Intelligence Lithium Carbonate China Index priced lithium carbonate product at US$13,710/t6 as of 12 June 2024. Lithium carbonate is the product of many of the most advanced lithium clay projects around the world, including Lithium Americas’ (NYSE: LAC) 16.1Mt LCE Thacker Pass Project 3 which is currently under construction. Accordingly, exploration results for Red Mountain have been reported as both the standard parts-per-million (ppm) and as % Lithium Carbonate Equivalent (LCE). A full table of tabulated assay results is provided in Appendix 2. Easting Northing RL Dip Azimuth Depth Drilled (NAD83) (NAD83) (m) (°) (°) (m) RMRC001 637610 4285589 1708 -50 180 182.9 RMRC002 637105 4290201 1694 -50 270 128.0 RMRC003 637105 4290201 1694 -90 - 36.6 RMRC004 637782 4288743 1709 -50 270 137.2 RMRC005 637321 4288194 1687 -50 270 137.2 RMRC006 637534 4288197 1696 -50 270 182.9 RMRC007 637100 4287805 1672 -50 270 152.4 RMRC008 637676 4286218 1709 -50 270 152.4 RMRC009 637667 4285795 1704 -50 270 152.4 RMRC010 636942 4285791 1680 -50 270 121.9 RMRC011 636423 4286202 1650 -50 270 134.1 Drill Hole ID Table 1. Drill hole collar details Background Located in central-eastern Nevada (Figure 2), the Red Mountain Project was staked by Astute in August 2023. The Project area has broad mapped tertiary lacustrine (lake) sedimentary rocks known locally as the Horse Camp Formation2. Elsewhere in the state of Nevada, equivalent rocks host large lithium deposits (see Figure 2) such as Lithium Americas’ (NYSE: LAC) 16.1Mt LCE Thacker Pass Project3, American Battery Technology Corporation’s (OTCMKTS: ABML) 15.8Mt LCE Tonopah Flats deposit4 and American Lithium (TSX.V: LI) 9.79Mt LCE TLC Lithium Project5. After staking was completed, Astute completed an 819-point soil sampling campaign that revealed strong lithium anomalism in soils, with grades of up to 1,110ppm lithium and a coherent 50ppm+ anomaly that stretched over 8km strike and up to 2.8km width 2 (Figure 1). After completing the soil sampling campaign, the Company embarked on a rock-chip campaign at Red Mountain designed to test for lithium at strategic locations and across a range of outcropping and shallowly sub-cropping rock types. The results of the rock chip sampling revealed the presence of strongly mineralised claystone, with 10 claystones grading on average 1,102ppm lithium, ranging from 132-2,190ppm lithium2. As a relatively soft rock type, the claystones at Red Mountain are ‘recessive’, or lie beneath a typically thin veneer of alluvium. This recessive nature of the claystone means that more claystone may be present than is immediately apparent, with the harder rock types presenting as outcrop and the claystone being hidden. Other attractive Project characteristics include outcropping claystone host-rocks and close proximity to infrastructure, including the Project being immediately adjacent to the Grand Army of the Republic Highway (Route 6), which links the regional cities of Ely with Tonopah. Next Steps The Company is awaiting outstanding assay results for the remaining eight drill holes completed as part of the maiden drill campaign at Red Mountain. Once received, a full interpretation will be conducted ahead of establishing detailed future plans for the Project. Suite 6, Level 5, 189 Kent St, Sydney NSW 2000 | GPO Box 2733, Sydney NSW 2001 +61 (0) 2 8046 2799 | admin@astutemetals.com www.astutemetals.com Figure 2. Location of Astute Lithium Projects, and Nevada lithium deposits. 1 Lithium Carbonate Equivalent wt%(LCE) has been calculated from Lithium parts-per-million (ppm) by the formula LCE = Li (ppm) x 5.323 /10,000 2 ASX: ASE 27 November 2023 ‘Outstanding Rock-Chip Assays at Red Mountain Project’ 3 NYSE: LAC 2 November 2022 Feasibility Study NI 43-101 Technical Report for the Thacker Pass Project 4 OTCMKTS: ABML 26 February 2023 ‘Technical Report Summary for The Tonopah Flats Lithium Project, Esmeralda.’ 5 TSX.V: LI 17 March 2023 ‘Tonopah Lithium Claims project NI 43-101 technical report – Preliminary Economic Assessment’ 6 Source: Benchmark Mineral Intelligence – Lithium Carbonate China Index 12/06/2024 Authorisation This announcement has been authorised for release by the Board of Astute. More Information Matt Healy Executive Director mhealy@astutemetals.com +61 (0) 431 683 952 Nicholas Read Media & Investor Relations nicholas@readcorporate.com.au +61 (0) 419 929 046 Suite 6, Level 5, 189 Kent St, Sydney NSW 2000 | GPO Box 2733, Sydney NSW 2001 +61 (0) 2 8046 2799 | admin@astutemetals.com www.astutemetals.com Competent Persons The information in this report that relates to Sampling Techniques and Data (Section 1) is based on information compiled by Mr. Matthew Healy, a Competent Person who is a Member of The Australasian Institute of Mining and Metallurgy (AusIMM Member number 303597). Mr. Healy is a full-time employee of Astute Metals NL and is eligible to participate in a Loan Funded Share incentive plan of the Company. Mr. Healy 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. Healy consents to the inclusion in the report of the matters based on his information in the form and context in which it appears. The information in this report that relates to Reporting of Exploration Results (Section 2) is based on information compiled by Mr. Richard Newport, principal partner of Richard Newport & Associates – Consultant Geoscientists. Mr. Newport is a member of the Australian Institute of Geoscientists and 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 under the 2012 Edition of the ’Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves‘. Mr. Newport consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears. Suite 6, Level 5, 189 Kent St, Sydney NSW 2000 | GPO Box 2733, Sydney NSW 2001 +61 (0) 2 8046 2799 | admin@astutemetals.com www.astutemetals.com APPENDIX 1 - JORC Code, 2012 Edition – Table 1 Section 1 - Sampling Techniques and Data Criteria JORC Code explanation Commentary Sampling techniques Nature and quality of sampling (e.g. cut channels, random chips, or specific specialisedindustry standard measurement tools appropriate to the minerals under investigation, such as down hole gamma sondes, or handheldXRF instruments, etc.). These examples should not be taken as limiting the broad meaning of sampling. 5.5” reverse circulation drilling was undertaken for drill sample collection. Samples were collected on a 5-foot basis in calico bags, with a 50% split retained from a rotary cone splitter for lab assay. Include reference to measures taken to ensuresample representivity and the appropriate calibration of any measurement tools or systems used. Samples were air dried on elevated grid mesh until practical to transport Aspects of the determination of mineralisation thatare Material to the Public Report. In cases where ‘industry standard’ work has been done this would be relatively simple (e.g. ‘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, suchas where there is coarse gold that has inherentsampling problems. Unusual commodities or mineralisation types (e.g. submarine nodules) may warrant disclosure of detailed information. Nominal small drill sample was collected for chip tray records Claystone hosted lithium deposits are thought to form as a result of the weathering of lithium-bearing volcanic glass within tertiary-aged tuffaceous lacustrine sediments of the mapped Ts3 unit. Inputs of lithium from geothermal sources have also been proposed. Drilling techniques Drill type (e.g. core, reverse circulation, openholehammer, rotary air blast, auger, Bangka, sonic, etc.) and details (e.g. core diameter, triple or standard tube, depth of diamond tails, face-sampling bit or other type, whether core isoriented and if so, by what method, etc.). 5.5” reverse circulation drilling methods employed. Water was injected to assist with transport of sample from bit to surface, as required. Drill sample recovery Method of recording and assessing core andchip sample recoveries and results assessed. Sample recovery established by dry sample weights undertaken by independent laboratory prior to sample preparation and analysis Measures taken to maximise sample recoveryand 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/gainof fine/coarse material. Logging Whether core and chip samples have been geologically and geotechnically logged to alevel of detail to support appropriate MineralResource estimation, mining studies and metallurgical studies. Whether logging is qualitative or quantitative innature. Core (or costean, channel, etc.) photography. Some instances of poor recovery near surface. Instances of poor recovery are not expected tomaterially impact interpretation of results Drill cuttings for entire hole logged for lithology by company geologists Logging is qualitative Photography of material intersections of claystone taken of relevant chip trays The total length and percentage of the relevantintersections logged. Suite 6, Level 5, 189 Kent St, Sydney NSW 2000 | GPO Box 2733, Sydney NSW 2001 +61 (0) 2 8046 2799 | admin@astutemetals.com www.astutemetals.com APPENDIX 1 - JORC Code, 2012 Edition – Table 1 Criteria JORC Code explanation Commentary Subsampling techniques and sample preparation If core, whether cut or sawn and whether quarter, half or all core taken. Samples, 50% split using a rotary cone splitter, were submitted to ALS Laboratories in Elko for preparation and analysis. If non-core, whether riffled, tube sampled, rotarysplit, etc. and whether sampled wet or dry. For all sample types, the nature, quality and appropriateness of the sample preparationtechnique. Quality control procedures adopted for all sub-sampling stages to maximise representivityof samples. Measures taken to ensure that the sampling isrepresentative of the in-situ material collected,including for instance results for field duplicate/second-half sampling. Quality of assay data and laboratory tests Whether sample sizes are appropriate to thegrain 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 ortotal. For geophysical tools, spectrometers, handheldXRF 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 (e.g. standards, blanks, duplicates, external laboratory checks) and whether acceptable levels of accuracy (i.e. lack of bias) and precisionhave been established. Verification of sampling and assaying Assay quality was monitored using pulp blanks, as well as certified reference materials (CRMs) at a range of lithium grades. Pulp blank results indicated no material contamination of samples from sample preparation or during the analytical process. CRM results were within 3 standard deviations of certified values. No material systematic bias nor other accuracy related issues were identified. The verification of significant intersections by either independent or alternative company personnel. Sample intervals to be assigned a unique sample identification number prior to sample despatch The use of twinned holes. Lithium-mineralised claystone Certified Reference Materials (standards), pulp blanks and coarse blanks to be inserted into the sample stream at regular intervals to monitor lab accuracy and potential contamination during sample prep and analytical processes Documentation of primary data, data entryprocedures, data verification, data storage (physical and electronic) protocols. Discuss any adjustment to assay data. Location of data points Samples analysed by method ME-MS41 which is an ICP-MS method employing an aqua-regia digest. Aqua-regia is not considered a ‘total’ digest for many elements however is considered fit for purpose for lithium and has been used extensively by other parties exploring for lithium claystone deposits in the USA. Accuracy and quality of surveys used to locatedrill 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. Drill collar locations determined using handheld GPS with location reported in NAD83 UTM Zone 11. Expected hole location accuracy of +/10m No downhole surveys conducted on drill holes, with drill rigs lined up by compass and clino at start of hole Suite 6, Level 5, 189 Kent St, Sydney NSW 2000 | GPO Box 2733, Sydney NSW 2001 +61 (0) 2 8046 2799 | admin@astutemetals.com www.astutemetals.com APPENDIX 1 - JORC Code, 2012 Edition – Table 1 Criteria JORC Code explanation Commentary Data spacing and distribution Data spacing for reporting of Exploration Results. Drill spacing is appropriate for early exploration purposes Whether the data spacing and distribution is sufficient to establish the degree of geological and grade continuity appropriate for the MineralResource and Ore Reserve estimation procedure(s) and classifications applied. 5-foot sample interval widely adopted as standard practice in air drilling in the USA. Whether sample compositing has been applied. Orientation of data in relation to geological structure Whether the orientation of sampling achieves unbiased sampling of possible structures and the extent to which this is known, considering the deposit type. Claystone beds are regionally shallow-dipping at ~20° to the east although locally this may vary across the Project with some evidence of faulting and potential folding Sample security The measures taken to ensure sample security. Samples stored at secured yard and shed located in township of Currant until delivered by staff or contractors to the ALS lab at Elko, NV Audits or reviews The results of any audits or reviews of samplingtechniques and data. Not applicable 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. Suite 6, Level 5, 189 Kent St, Sydney NSW 2000 | GPO Box 2733, Sydney NSW 2001 +61 (0) 2 8046 2799 | admin@astutemetals.com www.astutemetals.com APPENDIX 1 - JORC Code, 2012 Edition – Table 1 Section 2 - Reporting of Exploration Results Criteria JORC Code explanation Commentary Mineral tenement and land tenure status Type, reference name/number, location and ownership including agreements or material issues with third parties such as joint ventures, partnerships, overriding royalties, native title interests, historical sites, wilderness or national park and environmental settings. Red Mountain Claims held in 100% Astute subsidiary Needles Holdings Inc. 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 done by other parties Acknowledgment and appraisal of exploration byother parties. Geology Deposit type, geological setting and style of mineralisation. Claims located on Federal (BLM) Land Drilling conducted on claims certified by the Bureau of Land Management (BLM) No known previous lithium exploration conducted at Red Mountain Exploration conducted elsewhere in Nevada by other explorers referenced in announcement body text The principal target deposit style is claystone hosted lithium mineralisation. Claystone hosted lithium deposits are thought to form as a result of the weathering of lithium-bearing volcanic glass within tertiary-aged tuffaceous lacustrine sediments of the mapped Ts3 unit. Lacustrine environments formed as a result of extensional tectonic regime that produced ‘basin and range’ topography observed across the stateof Nevada. Inputs of lithium from geothermal sources have also been proposed. 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: ◦ easting and northing of the drill hole collar ◦ elevation or RL (Reduced Level – elevation above sea level in metres) of the drill hole collar ◦ dip and azimuth of the hole ◦ down hole length and interception depth ◦ hole length. Drillhole locations, orientations and drilled depths are tabulated in body report 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. Data aggregation methods In reporting Exploration Results, weighting averaging techniques, maximum and/or minimum grade truncations (e.g. cutting of high grades) and cut-off grades are usually Material and should be stated. Intersections, where quoted are weighted by length. 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 shownin detail. Low grade mineralisation (300-500ppm Li) is present outside of the quoted intersections A 500ppm Li cut-off was used to quote headline intersections, with allowance for 5ft of internal dilution by lower grade material. Intersections are quoted in both lithium ppm and as wt% Lithium Carbonate Equivalent (LCE). LCE is calculated as LCE = Li (ppm) x 5.323 / 10,000, as per industry conventions. The assumptions used for any reporting of metal equivalent values should be clearly stated. Suite 6, Level 5, 189 Kent St, Sydney NSW 2000 | GPO Box 2733, Sydney NSW 2001 +61 (0) 2 8046 2799 | admin@astutemetals.com www.astutemetals.com Section 2 Reporting of Exploration Results Criteria JORC Code explanation Commentary Relationship between mineralisation widths and intercept lengths These relationships are particularly important in the reporting of Exploration Results. Insufficient information available due to early exploration status 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 (e.g. ‘down hole length, true width notknown’). Diagrams Appropriate maps and sections (with scales) andtabulations 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. Included in ASX announcement Balanced reporting 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. This release describes all relevant information Other substantive exploration data Other exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysicalsurvey results; geochemical survey results; bulk samples – size and method of treatment; metallurgical test results; bulk density, groundwater, geotechnical and rock characteristics; potential deleterious or contaminating substances. This release describes all relevant information Further work The nature and scale of planned further work (e.g. tests for lateral extensions or depth extensions orlarge-scale step-out drilling). Drill results demonstrate further work at the Red Mountain project is most likely warranted, however this will be subject to receipt of the remaining 8-holes worth of assay results Diagrams clearly highlighting the areas of possible extensions, including the main geological interpretations and future drilling areas, provided this information is not commercially sensitive. Suite 6, Level 5, 189 Kent St, Sydney NSW 2000 | GPO Box 2733, Sydney NSW 2001 +61 (0) 2 8046 2799 | admin@astutemetals.com www.astutemetals.com APPENDIX 2 – Red Mountain Drilling Sample Assay Table From Hole ID (ft) To (ft) Li LCE (ppm) (%) Hole ID From (ft) To (ft) Li LCE (ppm) (%) RMRC001 30 35 9.8 0.01 RMRC001 255 260 1960 1.04 RMRC001 35 40 18.2 0.01 RMRC001 260 265 1790 0.95 RMRC001 40 45 130 0.07 RMRC001 265 270 1455 0.77 RMRC001 45 50 325 0.17 RMRC001 270 275 876 0.47 RMRC001 50 55 301 0.16 RMRC001 275 280 870 0.46 RMRC001 55 60 320 0.17 RMRC001 280 285 1065 0.57 RMRC001 60 65 369 0.20 RMRC001 285 290 1585 0.84 RMRC001 65 70 426 0.23 RMRC001 290 295 898 0.48 RMRC001 70 75 457 0.24 RMRC001 295 300 2560 1.36 RMRC001 75 80 858 0.46 RMRC001 300 305 1105 0.59 RMRC001 80 85 408 0.22 RMRC001 305 310 936 0.50 RMRC001 85 90 259 0.14 RMRC001 310 315 936 0.50 RMRC001 90 95 306 0.16 RMRC001 315 320 867 0.46 RMRC001 95 100 244 0.13 RMRC001 320 325 1010 0.54 RMRC001 100 105 274 0.15 RMRC001 325 330 864 0.46 RMRC001 105 110 211 0.11 RMRC001 330 335 1000 0.53 RMRC001 110 115 212 0.11 RMRC001 335 340 1495 0.80 RMRC001 115 120 226 0.12 RMRC001 340 345 1510 0.80 RMRC001 120 125 255 0.14 RMRC001 345 350 1615 0.86 RMRC001 125 130 270 0.14 RMRC001 350 355 1740 0.93 RMRC001 130 135 288 0.15 RMRC001 355 360 1565 0.83 RMRC001 135 140 324 0.17 RMRC001 360 365 1525 0.81 RMRC001 140 145 271 0.14 RMRC001 365 370 1680 0.89 RMRC001 145 150 137.5 0.07 RMRC001 370 375 1290 0.69 RMRC001 150 155 285 0.15 RMRC001 375 380 1540 0.82 RMRC001 155 160 680 0.36 RMRC001 380 385 1460 0.78 RMRC001 160 165 468 0.25 RMRC001 385 390 1565 0.83 RMRC001 165 170 267 0.14 RMRC001 390 395 1280 0.68 RMRC001 170 175 129.5 0.07 RMRC001 395 400 1380 0.73 RMRC001 175 180 107.5 0.06 RMRC001 400 405 998 0.53 RMRC001 180 185 211 0.11 RMRC001 405 410 561 0.30 RMRC001 185 190 160 0.09 RMRC001 410 415 1240 0.66 RMRC001 190 195 134.5 0.07 RMRC001 415 420 1105 0.59 RMRC001 195 200 170.5 0.09 RMRC001 420 425 1380 0.73 RMRC001 200 205 170.5 0.09 RMRC001 425 430 383 0.20 RMRC001 205 210 151 0.08 RMRC001 430 435 803 0.43 RMRC001 210 215 172.5 0.09 RMRC001 435 440 446 0.24 RMRC001 215 220 237 0.13 RMRC001 440 445 246 0.13 RMRC001 220 225 206 0.11 RMRC001 445 450 141 0.08 RMRC001 225 230 258 0.14 RMRC001 450 455 259 0.14 RMRC001 230 235 308 0.16 RMRC001 455 460 186 0.10 RMRC001 235 240 430 0.23 RMRC001 460 465 95.7 0.05 RMRC001 240 245 1340 0.71 RMRC001 465 470 95.9 0.05 RMRC001 245 250 1895 1.01 RMRC001 470 475 227 0.12 RMRC001 250 255 1400 0.75 RMRC001 475 480 131.5 0.07 Suite 6, Level 5, 189 Kent St, Sydney NSW 2000 | GPO Box 2733, Sydney NSW 2001 +61 (0) 2 8046 2799 | admin@astutemetals.com www.astutemetals.com APPENDIX 2 – Red Mountain Drilling Sample Assay Table From Hole ID (ft) To (ft) Li LCE (ppm) (%) Hole ID From (ft) To (ft) Li LCE (ppm) (%) RMRC001 480 485 101.5 0.05 RMRC002 105 110 242 0.13 RMRC001 485 490 92.3 0.05 RMRC002 110 115 153 0.08 RMRC001 490 495 236 0.13 RMRC002 115 120 157.5 0.08 RMRC001 495 500 133 0.07 RMRC002 120 125 138 0.07 RMRC001 500 505 60.9 0.03 RMRC002 125 130 81 0.04 RMRC001 505 510 47.9 0.03 RMRC002 130 135 97 0.05 RMRC001 510 515 119 0.06 RMRC002 135 140 113.5 0.06 RMRC001 515 520 93.1 0.05 RMRC002 140 145 205 0.11 RMRC001 520 525 85.7 0.05 RMRC002 145 150 285 0.15 RMRC001 525 530 100 0.05 RMRC002 150 155 281 0.15 RMRC001 530 535 185 0.10 RMRC002 155 160 152 0.08 RMRC001 535 540 149 0.08 RMRC002 160 165 368 0.20 RMRC001 540 545 140 0.07 RMRC002 165 170 482 0.26 RMRC001 545 550 146.5 0.08 RMRC002 170 175 263 0.14 RMRC001 550 555 259 0.14 RMRC002 175 180 179.5 0.10 RMRC001 555 560 322 0.17 RMRC002 180 185 259 0.14 RMRC001 560 565 280 0.15 RMRC002 185 190 200 0.11 RMRC001 565 570 369 0.20 RMRC002 190 195 231 0.12 RMRC001 570 575 294 0.16 RMRC002 195 200 274 0.15 RMRC001 575 580 199 0.11 RMRC002 200 205 197 0.10 RMRC001 580 585 281 0.15 RMRC002 205 210 171 0.09 RMRC001 585 590 272 0.14 RMRC002 210 215 206 0.11 RMRC001 590 595 295 0.16 RMRC002 215 220 295 0.16 RMRC001 595 600 338 0.18 RMRC002 220 225 390 0.21 RMRC002 0 5 420 0.22 RMRC002 225 230 393 0.21 RMRC002 5 10 1835 0.98 RMRC002 230 235 638 0.34 RMRC002 10 15 254 0.14 RMRC002 235 240 536 0.29 RMRC002 15 20 52.4 0.03 RMRC002 240 245 454 0.24 RMRC002 20 25 344 0.18 RMRC002 245 250 374 0.20 RMRC002 25 30 347 0.18 RMRC002 250 255 496 0.26 RMRC002 30 35 213 0.11 RMRC002 255 260 327 0.17 RMRC002 35 40 532 0.28 RMRC002 260 265 246 0.13 RMRC002 40 45 185.5 0.10 RMRC002 265 270 325 0.17 RMRC002 45 50 104 0.06 RMRC002 270 275 465 0.25 RMRC002 50 55 895 0.48 RMRC002 275 280 479 0.25 RMRC002 55 60 714 0.38