Continued High Grade Lithium at McCombe, Root and Second Rig Mobilized To Morrison, Root

HIGHLIGHTS

• More than 50 drill holes intersecting spodumene bearing pegmatite at McCombe deposit, Root

• New spodumene bearing pegmatites intersected in the northeast quadrant of McCombe

• Assays received for a further eight diamond holes including:

- RL-22-0022: 14.0m @ 1.35% Li2O from 47.4m (incl. 13.1m @ 1.43% Li2O from 47.4m)

- RL-22-0023: 13.1m @ 1.39% Li2O from 12.4m

- RL-22-0018: 12.6m @ 1.18% Li2O from 51.8m (incl. 7.0m @ 2.06% Li2O from 51.0m)

- RL-22-0017: 6.2m @ 1.29% Li2O from 53.9m (incl. 3.5m @ 2.12% Li2O from 55.0m)

• Phase 1 definition drilling; 22 holes completed all assays received

• Phase 2 extensional drilling in progress with strong visual spodumene logged in all holes; 28 holes completed, assays still pending

• Second drill rig mobilising to Morrison, located 1 km east of McCombe to target known spodumene bearing pegmatites

• Maiden Root Mineral Resource Estimate on track for Q1 2023

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