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TAWANA RESOURCES NL - Significant Exploration Results Continue at Bald Hill

Release Date: 06/12/2017 08:50:00      Code(s): TAW       PDF(s):  
Significant Exploration Results Continue at Bald Hill

    Tawana Resources NL
    (Incorporated in Australia)
    (Registration number ACN 085 166 721)
    Share code on the JSE Limited: TAW
    JSE ISIN: AU0000TAWDA9
    Share code on the Australian Securities Exchange Limited: TAW
    ASX ISIN: AU000000TAW7
    (“the Company” or “Tawana”)


Significant Exploration Results Continue at Bald Hill

PLEASE NOTE: ALL GRAPHICS HAVE BEEN REMOVED FOR SENS PURPOSES. PLEASE REFER TO TAWANA WEBSITE FOR THE
COMPLETE ANNOUNCEMENT.

Tawana Resources NL (ASX:TAW) (“Tawana” or the “Company”) and Alliance Mineral Assets Limited (SGX: AMA)
(AMAL) are pleased to announce that extensional step-out drilling and mapping at the Bald Hill Project, in the
Eastern Goldfields region of Western Australia has significantly increased the footprint of the known lithium and
tantalum pegmatite swarm. The Bald Hill Project is a joint project between Tawana and AMAL.

    Highlights - Drilling
- Eastern high-grade extension. Significant results include:
     -    31m at 1.46% Li2O from 143m, including 18m at 1.88% Li2O in LRC0702;
     -    35m at 1.74% Li2O from 146m including 15m at 2.11% Li2O in LRC0703.
     This mineralised zone remains open to the east and south.
- Boreline South Eastern Extension. Significant results include:
     -    7m at 1.38% Li2O from 113m in LRC0665;
     -    6m at 1.45% Li2O from 150m LRC0675;
     -    9m at 0.93% Li2O from 41m and 10m at 1.11% Li2O from 117m in LRC0677.
     This mineralised zone remains open to the south.
-    Initial lithium drilling at Fenceline prospect. Significant results include:
     -     7m at 1.35% Li2O from 29m in LRC0672;
     -     7m at 0.54% Li2O from 65m and 5m at 0.80%Li2O from 82m in LRC0674.

-    Deeper pegmatite below starter pit. Significant results include:
     -   7.78m at 2.46% Li2O from 234m including 2.78m at 4.27% Li2O in LDD0001;
     -   6m at 2.03% Li2O from 135m in LDD0003.

    Highlights – Mapping, Water Exploration Drilling
- Several outcropping lithium and tantalum pegmatites discovered SW of the Fenceline prospect.
- A single water exploration drill hole drilled on R15/001, 700m west of the starter pit, intercepted 3 spodumene
     pegmatites.

Tawana Resources Managing Director Mark Calderwood stated: “With a number of significant resource targets,
the Joint Venture is considering increasing the pace of drilling in the new year. One rig will continue with infill
drilling whilst one to two rigs will work on step out drilling and testing newly discovered lithium pegmatites.
We remain on track to joining the lithium producer ranks in 1Q18.”
Recent Drilling
A further 87 Reverse Circulation drill holes totalling 12,222m and 7 core holes totalling 750m were completed between
2 August and 4 October 2017. Of these 94 holes drilled, only 20 were completed in time to be included in the October
Resource Estimate (Refer ASX Release 11 October 2017). Recent intercepts are summarised in Tables 3, 4 and 5 in
Appendix A.
Areas of focus for recent drilling were:
-   Eastern high-grade extension, six holes completed. Significant results include:
    -   17m at 0.93% Li2O from 119m in LRC0685;
    -   19m at 0.98% Li2O from 156m, including 9m at 1.26% Li2O in LRC0701;
    -   31m at 1.46% Li2O from 143m, including 18m at 1.88% Li2O in LRC0702;
    -   35m at 1.74% Li2O from 146m including 15m at 2.11% Li2O in LRC0703.
This mineralised zone remains open to the east and south.
-   Boreline South Eastern Extension, eight holes completed. Significant results include:
    -    7m at 1.38% Li2O from 113m in LRC0665;
    -    6m at 1.45% Li2O from 150m LRC0675;
    -    9m at 0.93% Li2O from 41m and 10m at 1.11% Li2O from 117m in LRC0677.
This mineralised zone remains open to the south.
-   Initial lithium drilling at Fenceline prospect, four holes completed. Significant results include:
    -     7m at 1.35% Li2O from 29m in LRC0672;
    -     7m at 0.54% Li2O from 65m and 5m at 0.80%Li2O from 82m in LRC0674.
-   Deeper pegmatite below starter pit, two prior holes partly assayed. Significant new results include:
    -   7.78m at 2.46% Li2O from 234m including 2.78m at 4.27% Li2O in LDD0001;
    -   6m at 2.03% Li2O from 135m in LDD0003.
-   Notable intercepts from Resource Infill drilling not included in the October Resource Estimate include:
    -   23m at 1.31% Li2O from 115m in LRC0494;
    -   11m at 2.01% Li2O from 132m followed by 10m at 1.00% Li2O from 146m in LRC0495;
    -   28m at 1.48% Li2O from 110m including 12m at 2.04% Li2O from 124m in LRC0499;
    -   22m at 1.03% Li2O from 83m in LRC0500;
    -   29m at 0.90% Li2O from 105m followed by 11m at 1.35% Li2O from 133m in LRC0636;
    -   14m at 1.59% Li2O from 133m including 7m at 2.03% Li2O from 138m in LRC0637;
    -   31m at 1.50% Li2O from 134m in LRC0638;
    -   11m at 1.72% Li2O from 40m and 12m at 1.17% Li2O from 80m in LRC0640;
    -   14m at 1.56% Li2O and 296ppm Ta2O5 from 63m including 6m at 2.93% Li2O in LRC0695.

Exploration has recently focused on initial grade control, water bore installation and water exploration drilling. A
recently completed water exploration hole (LRC0706) drilled 700m west of the current proposed starter pit (refer Figure
2) intercepted four pegmatites at shallow depths, three of which contained visible spodumene; 23-25m - moderate
spodumene; 27-31m - high spodumene; and 43-49m - moderate spodumene.
Mapping and Sampling
Outcrop mapping and sampling has been undertaken on R15/01. Several outcropping spodumene and tantalum
pegmatites have been located highlighting the potential, at depth, for the more important sub-horizontal pegmatites.
A total of 75 rock chip and channel samples were collected over a wide area of which 54 contained visual spodumene
or anomalous lithium, tantalum or tin. Refer Table 1.
Table 1| Surface Rock Chip and Channel Sampling Results

                                   Sample     Sample
  Sample ID   Easting   Northing                       Anomalous   Cs2O    Li2O    Rb2O    Ta2O5   Nb2O5   SnO2
                                   Material   Method

  BHRK0001    420810     6510139     OC        CHIP        Ta
                                                                   178     43      3,273   192      64      17
  BHRK0002    420790     6510154     OC        CHIP        Ta              <20
                                                                   113             2,342   305      79      41
  BHRK0003    420741     6510233     OC        CHIP        Ta
                                                                   110     22      2,222   277      64      11
  BHRK0004    420541     6509773     OC        CHIP
                                                                   225     22      5,175   110      29      27
  BHRK0005    420600     6509795     OC        CHIP                        <20
                                                                   104             3,340    46      64      18
  BHRK0006    420845     6512205     SC        CHIP        Ta
                                                                   86      86      1,712   359     107     155
  BHRK0007    420844     6512233     SC        CHIP        Ta
                                                                   65      129     1,225   199     143      46
  BHRK0008    420856     6512152     SC        CHIP        Ta
                                                                   38      86      734     253     100      58
  BHRK0009    420872     6512107     SC        CHIP        Ta
                                                                   70      108     1,096   315     122      84
  BHRK0010    420709     6511857     SC        CHIP       Ta, Sn           <20
                                                                   46              331     324      93     401
  BHRK0011    420706     6511866     SC        CHIP        Ta
                                                                   66      43      696     304      72      99
  BHRK0012    420683     6511878     SC        CHIP       Ta, Sn
                                                                   523     172     3,783   1,243   129     419
  BHRK0052    419882     6509722     OC       CHNL        Ta, Sn
                                                                   53      65      870     212     114     359
  BHRK0053    419958     6509535     OC        CHIP         Li
                                                                   126    4,952    2,232    44      64     123
  BHRK0054    420565     6510503     SC        CHIP        Ta              <20
                                                                   187             3,378   326     200      79
  BHRK0057    420071     6509928     SC        CHIP        Ta
                                                                   55      43      645     199      79      36
  BHRK0061    419985     6510005     OC       CHNL         Sn
                                                                   28      43      571      96      93     424
  BHRK0063    419936     6510059     OC       CHNL         Ta
                                                                   124     43      2,126   372     143      94
  BHRK0064    419921     6510097     OC       CHNL         Ta              <20
                                                                   152             2,482   233      93      99
  BHRK0066    419833     6509954     OC       CHNL         Sn
                                                                   103     22      1,757   127     114     404
  BHRK0067    419857     6509849     OC       CHNL         Sn
                                                                   85      108     1,332   114      93     453
  BHRK0068    419759     6509798     SC        CHIP       Li, Sn
                                                                   36     20,303   560      81     136     269
  BHRK0069    419758     6509825     SC        CHIP         Li
                                                                   91     14,511   1,454    70     114     207
  BHRK0070    419733     6509935     SC        CHIP       Li, Sn
                                                                   66     15,609   1,954    49     107     413
  BHRK0071    419683     6510060     OC       CHNL        Li, Sn
                                                                   32     4,995    735      49      79     321
  BHRK0072    419686     6510076     OC       CHNL
                                                                   77      129     2,475    61      79     226
  BHRK0074    420046     6509393     OC        CHIP       Li, Sn
                                                                   46     7,815    729      54      86     250
                                       Sample     Sample
 
 Sample ID     Easting    Northing                         Anomalous    Cs2O    Li2O    Rb2O    Ta2O5    Nb2O5   SnO2
                                       Material   Method

  BHRK0075      420069     6509357       OC        CHNL        Li, Sn
                                                                          83    14,683   1,163     53      100     363
  BHRK0078      420151     6509143       OC        CHNL         Sn
                                                                          30      65      945      48      50      278
  BHRK0081      420499     6509589       OC        CHIP         Ta                <20
                                                                          12              138     239      107     14
  BHRK0083      420983     6511676       SC        CHIP         Ta
                                                                          41      86      387     222      86      56
  BHRK0084      420930     6511673       SC        CHIP         Ta
                                                                          45      86      340     333      79      169
  BHRK0085      420904     6511681       OC        CHIP         Ta
                                                                         100      65      892     680      79      154
  BHRK0087      420901     6511500       FT        GRAB       Ta, Cs
                                                                         907      560    9,164    230      29      122
  BHRK0088      420914     6511336       OC        CHIP       Ta, Sn
                                                                         101      172    1,067   1,082     129     859
  BHRK0089      420955     6511260       SC        CHIP         Sn
                                                                         248      108    3,356    168      72      260
  BHRK0090      420843     6511014       OC        CHIP        Li, Sn
                                                                         230     9,322   1,900    116      122     724
  BHRK0091      420837     6511095       SC        CHIP       Ta, Sn
                                                                          32      86      579     187      129     537
  BHRK0092      420837     6511045       SC        CHIP         Sn
                                                                         263      108    4,344    122      100     456
  BHRK0093      420814     6511000       SC        CHIP          Li
                                                                         273     9,968   3,091     67      72      147
  BHRK0094      420653     6511678       SC        CHIP         Ta
                                                                          85      108     705     591      100     211
  BHRK0095      420672     6511573       SC        CHIP       Ta, Sn
                                                                         111      517    1,178    670      143     649
  BHRK0096      420624     6511662       SC        CHIP       Ta, Sn
                                                                         235      151    2,155    630      114     330
  BHRK0097      420476     6511672       SC        CHIP         Ta
                                                                          43      43      510     377      122     152
  BHRK0099      420482     6511211       OC        CHIP         Ta
                                                                         154      86     2,886    217      179     191
  BHRK0204      421125     6509832       FT        GRAB          Li
                                                                         236    11,583   1,989     4        7      51
  BHRK0206      421225     6509984       OC        CHIP         Ta
                                                                         135      43     2,440    258      114     70
  BHRK0207      421462     6509995       OC        CHIP         Ta
                                                                          24      65      307     592      150     15
  BHRK0208      421556     6510008       OC        CHIP         Ta
                                                                          53      86      982     437      272     189
  BHRK0209      421665     6510662       SC        CHIP          Li
                                                                          46     8,547   1,450    138      143     72
                                         OC        CHIP          Li
  P51           421821     6510441                                        30    16,737    689      46      142     65
                                         OC        CHIP          Li
  P52           421824     6510409                                        58    20,968    769      61      102     64
                                         OC        CHIP          Li
  P53           421592     6510302                                        43    24,040   1,143     62      114     194
                                         OC        CHIP        Li, Sn
  P54           421601     6510204                                        85    17,635   2,410     88      136     295

Notes : OC = outcrop, SC = sub-outcrop, FT = float,
        CHIP = chip sample, CHNL = channel sample, GRAB = grab sample.
        Samples BHRK0004, 0005 and 0072 contained visible weathered spodumene however were not analytically anomalous.

Competent Persons Statement
The information in this news release that relates to Exploration Results is based on and fairly represents information and supporting
documentation compiled by Mr Mark Calderwood and Mr Gareth Reynolds, both employees of Tawana Resources NL (“Tawana”). Mr
Calderwood is a member of The Australasian Institute of Mining and Metallurgy and Mr Reynolds is a member of the Australian Institute
of Geoscientists. Mr Calderwood and Mr Reynolds have sufficient experience relevant to the style of mineralisation under consideration
and to the activity which they are undertaking 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 Calderwood and Mr Reynolds consent to the inclusion in
this report of the matters based on their information in the form and context in which it appears. Mr Calderwood and Mr Reynolds meet
the requirements to act as a Qualified Person (as defined in the SGX Catalist rules).
Mr Calderwood is a significant shareholder in Tawana. Mr Calderwood and Tawana do not consider these to constitute a potential conflict
of interest to his role as Competent Person. Mr Calderwood is not aware of any other relationship with Tawana which could constitute a
potential for a conflict of interest.
Mr Reynolds is an employee of Tawana. Mr Reynolds is not aware of any other relationship with Tawana which could constitute a potential
for a conflict of interest.


Forward Looking Statement
This report may contain certain forward looking statements and projections regarding estimated, resources and reserves; planned
production and operating costs profiles; planned capital requirements; and planned strategies and corporate objectives. Such forward
looking statements/projections are estimates for discussion purposes only and should not be relied upon as representation or warranty,
express or implied, of Tawana Resources NL and/or Alliance Mineral Assets Limited. They are not guarantees of future performance and
involve known and unknown risks, uncertainties and other factors many of which are beyond the control of Tawana Resources NL and/or
Alliance Mineral Assets Limited. The forward looking statements/projections are inherently uncertain and may therefore differ materially
from results ultimately achieved.
Tawana Resources NL and/or Alliance Mineral Assets 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 Tawana Resources NL and/or Alliance Mineral Assets Limited or any of their 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 presentation. Accordingly, to the maximum extent permitted
by law, none of Tawana Resources NL and/or Alliance Mineral Assets Limited, their directors, employees or agents, advisers, nor any
other person accepts any liability whether direct or indirect, express or limited, contractual, tortuous, statutory or otherwise, in respect
of, the accuracy or completeness of the information or for any of the opinions contained in this announcement or for any errors, omissions
or misstatements or for any loss, howsoever arising, from the use of this announcement.


06 December 2017

Sponsor
PricewaterhouseCoopers Corporate Finance (Pty) Ltd


Appendix A
Table 2 | Drill Summary, Infill and Exploration Holes with Pegmatite Intercepts
             Easting   Northing   RL     Depth                                From      To    Width   Pegmatite
  Hole ID                                         Azm     Dec.     Type
               m          m       m        m                                    m       m      m        Type
  LRC0487    422137    6512003    277     110      90      -60      RC            48     57     9       Li, Ta
                                                                                  87    102    15       Li, Ta
  LRC0488    422222    6512001    277     164      90      -60      RC             6     7      1         Ta
                                                                                  54     57     3       Li, Ta
                                                                                  115   133    18       Li, Ta
  LRC0489    422161    6512079    278     102       0      -90      RC            29     34     5         Ta
                                                                                  72     84    12       Li, Ta
  LRC0490    422194    6512079    278     102       0      -90      RC            40     43     3       Li, Ta
                                                                                  71     79     8       Li, Ta
  LRC0491    422240    6512079    278     138       0      -90      RC            40     42     2         Ta
                                                                                  63     75    12         Li
                                                                                  78     85     7       Li, Ta
  LRC0492    422279    6512080    279     150       0      -90      RC            38     40     2         Ta
                                                                                  67     71     4         Ta
                                                                                  82     87     5         Li
                                                                                  98    106     8       Li, Ta
                                                                                  113   125    12      barren
                                                                                  126   127     1         Ta
  LRC0493    422321    6512079    279     144       0      -90      RC            44     47     3         Ta
                                                                                  104   116    12       Li, Ta
  LRC0494    422360    6512079    279     162       0      -90      RC            49     51     2         Ta
                                                                                  95     97     2         Ta
                                                                                  103   105     2         Ta
                                                                                  106   112     6       Li, Ta
                                                                                  113   123    10       Li, Ta
                                                                                  125   145    20       Li, Ta
  LRC0495    422402    6512079    279     174       0      -90      RC            70     71     1         Ta
                                                                                  131   156    25       Li, Ta
  LRC0496    422039    6512122    279     116      90      -60      RC            41     51    10       Li, Ta
                                                                                  80     95    15       Li, Ta
  LRC0497    422120    6512120    279     134      90      -60      RC            17     26     9       Li, Ta
                                                                                  44     45     1         Ta
                                                                                  86     97    11       Li, Ta
  LRC0498    422201    6512121    279     164      90      -60      RC            23     25     2         Ta
                                                                                  83     89     6       Li, Ta
                                                                                  119   120     1         Li
                                                                                  122   134    12       Li, Ta
                                                                                  142   153    11       Li, Ta
  LRC0499    422362    6512121    280     152      270     -80      RC            36     40     4         Ta
                                                                                  101   102     1         Ta
                                                                                  109   138    29         Li
  LRC0500    422002    6512161    280     116      90      -60      RC            82    106    24       Li, Ta
  LRC0597    422080    6512165    280     86        0      -90      RC            32     40     8       Li, Ta
                                                                                  62     67     5       Li, Ta
  LRC0598    422117    6512162    280      80       0      -90      RC            19     25     6       Li, Ta
                                                                                  48     67    19       Li, Ta
  LRC0599    422161    6512158    280      92       0      -90      RC            43     49     6       Li, Ta
                                                                                  71     80     9         Li
  LRC0600    422200    6512158    280     104       0      -90      RC            17     19     2         Ta
                                                                                  36     39     3         Ta
                                                                                  68     77     9         Li
                                                                                  85     87     2         Li
  LRC0622    421920    6512081    278     180      90      -60      RC            93     96     3         Ta
                                                                                  124   126     2         Ta
                                                                                  127   128     1         Li
                                                                                  149   161    12         Ta
                                                                                  173   175     2       Li, Ta
  LRC0623    421840    6512080    278     180      90      -60      RC            157   168    11       Li, Ta
          Easting   Northing   RL    Depth                       From   To    Width   Pegmatite
Hole ID                                      Azm   Dec.   Type
            m          m       m       m                           m    m      m        Type
                                                                 169    172     3         Ta
LRC0624   421759    6512079    279    169    90    -60     RC     7      10     3         Ta
                                                                 119    131    12       Li, Ta
                                                                 136    153    17       Li, Ta
                                                                 156    161     5       Li, Ta
LRC0625   421682    6512077    280    193    90    -60     RC    26      30     4         Ta
                                                                 67      69     2         Ta
                                                                 111    115     4       Li, Ta
                                                                 133    150    17       Li, Ta
                                                                 170    178     8       Li, Ta
LRC0626   421599    6512075    282    204    90    -60     RC    57      60     3         Ta
                                                                 112    129    17       Li, Ta
                                                                 141    163    22       Li, Ta
                                                                 188    194     6       Li, Ta
LRC0627   421878    6512040    278    199    90    -60     RC    110    117     7         Ta
                                                                 146    150     4         Ta
                                                                 153    161     8       Li, Ta
                                                                 182    189     7         Ta
                                                                 197    198     1         Ta
LRC0628   421797    6512040    278    163    90    -60     RC    117    120     3         Ta
                                                                 131    151    20       Li, Ta
LRC0629   421720    6512040    279    187    90    -60     RC    134    141     7       Li, Ta
                                                                 160    180    20       Li, Ta
                                                                 181    182     1         Li
LRC0630   421638    6512041    282    175    90    -60     RC    44      45     1         Ta
                                                                 76      77     1         Ta
                                                                 78      79     1         Ta
                                                                 115    125    10       Li, Ta
                                                                 133    144    11       Li, Ta
                                                                 150    164    14       Li, Ta
LRC0632   422140    6512317    286    49      0    -90     RC     0      4      4         Ta
                                                                 34      43     9       Li, Ta
LRC0633   422047    6512282    283    126    90    -60     RC    27      28     1         Ta
                                                                 46      56    10       Li, Ta
                                                                 79      95    16       Li, Ta
LRC0634   422249    6512158    280    158     0    -90     RC    23      26     3         Ta
                                                                 68      72     4         Li
                                                                 86     120    34       Li, Ta
LRC0635   422283    6512158    280    140     0    -90     RC    25      32     7         Ta
                                                                 49      55     6         Ta
                                                                 57      60     3         Li
                                                                 70      74     4         Li
                                                                 104    121    17         Li
LRC0636   422324    6512159    280    164     0    -90     RC    34      37     3         Ta
                                                                 104    147    43         Li
                                                                 151    154     3       Li, Ta
LRC0637   422357    6512158    281    176     0    -90     RC    23      27     4         Ta
                                                                 132    148    16         Li
LRC0638   422404    6512160    280    182     0    -90     RC    134    165    31         Li
LRC0639   422047    6512204    281    110    90    -60     RC    36      37     1         Ta
                                                                 40      47     7       Li, Ta
                                                                 48      49     1         Ta
                                                                 63      74    11         Ta
                                                                 102    104     2         Ta
LRC0640   422126    6512197    281    110    90    -60     RC    39      54    15       Li, Ta
                                                                 55      56     1         Ta
                                                                 70      72     2         Li
                                                                 74      76     2       Li, Ta
                                                                 80      92    12         Li
LRC0641   422242    6512199    281    140    90    -80     RC    65     110    45       Li, Ta
                                                                 111    112     1         Li
                                                                 113    122     9         Li
          Easting   Northing   RL    Depth                       From   To    Width   Pegmatite
Hole ID                                      Azm   Dec.   Type
            m          m       m       m                           m    m      m        Type
LRC0642   422360    6512198    282    170     0    -90     RC    15      19     4         Ta
                                                                 134    158    24         Li
LRC0643   422041    6512238    282    122     0    -90     RC    74      93    19       Li, Ta
LRC0644   422087    6512239    281    104     0    -90     RC    55      59     4         Ta
LRC0645   422123    6512245    283    86      0    -90     RC    23      32     9         Ta
                                                                 54      69    15       Li, Ta
LRC0646   422163    6512241    282    98      0    -90     RC    31      39     8       Li, Ta
                                                                 62      76    14       Li, Ta
LRC0647   422207    6512240    282    116     0    -90     RC    16      18     2         Ta
                                                                 43      53    10         Ta
                                                                 72      77     5      barren
                                                                 88      95     7         Ta
LRC0648   422240    6512239    283    134     0    -90     RC    10      15     5         Ta
                                                                 45      61    16       Li, Ta
                                                                 101    113    12         Ta
LRC0649   422397    6512239    282    194     0    -90     RC    160    182    22       Li, Ta
LRC0650   422357    6512241    283    170     0    -90     RC    18      22     4         Ta
                                                                 129    158    29       Li, Ta
LRC0665   422674    6511520    272    180     0    -90     RC    104    106     2         Ta
                                                                 112    121     9       Li, Ta
LRC0667   422675    6511361    271    180     0    -90     RC    94      96     2         Ta
                                                                 97     112    15       Li, Ta
                                                                 121    122     1         Li
                                                                 132    151    19         Ta
                                                                 157    160     3       Li, Ta
LRC0670   421840    6510280    269    162    90    -60     RC    27      30     3         Ta
LRC0671   420758    6510601    274    162     0    -90     RC     0      12    12         Ta
                                                                 27      31     4         Ta
LRC0672   420678    6510598    275    84      0    -90     RC    27      38    11       Li, Ta
                                                                 51      55     4         Li
LRC0674   420598    6510598    275    114     0    -90     RC    65      73     8         Li
                                                                 82      89     7         Li
LRC0675   422679    6511199    271    252     0    -90     RC    147    167    20       Li, Ta
                                                                 178    181     3         Li
                                                                 187    193     6         Ta
                                                                 216    220     4         Ta
                                                                 234    244    10       Li, Ta
LRC0677   422517    6511279    272    144     0    -90     RC    41      53    12         Li
                                                                 71      73     2         Ta
                                                                 113    131    18       Li, Ta
LRC0678   422835    6511360    271    244     0    -90     RC    204    212     8       Li, Ta
                                                                 217    222     5       Li, Ta
LRC0679   422114    6512039    277    110    90    -60     RC    26      39    13       Li, Ta
                                                                 87     100    13       Li, Ta
LRC0680   422205    6512040    277    140    90    -60     RC    49      50     1         Ta
                                                                 81      95    14       Li, Ta
                                                                 97     100     3         Ta
                                                                 110    121    11       Li, Ta
LRC0681   422071    6512002    277    128    90    -60     RC    54      65    11       Li, Ta
                                                                 84     113    29       Li, Ta
LRC0682   422123    6511963    276    122     0    -90     RC    47      51     4         Ta
                                                                 73      91    18       Li, Ta
LRC0683   422199    6511962    276    122     0    -90     RC    43      46     3         Ta
                                                                 83     102    19         Li
LRC0684   422280    6511961    277    140     0    -90     RC    54      58     4         Ta
                                                                 68      69     1         Li
                                                                 71      73     2         Li
                                                                 101    116    15       Li, Ta
LRC0685   422358    6511960    277    164     0    -90     RC    63      66     3         Ta
                                                                 119    138    19       Li, Ta
LRC0686   422438    6511957    278    218     0    -90     RC    66      69     3         Ta
                                                                 145    200    55         Li
              Easting   Northing     RL      Depth                                   From          To      Width   Pegmatite
  Hole ID                                              Azm     Dec.      Type
                m          m         m         m                                       m           m        m        Type
  LRC0691     421642     6512843    288       86        90      -60        RC          61            75      14      Li, Ta
  LRC0692     421603     6512841    287       86        90      -60        RC          61            72      11      Li, Ta
  LRC0693     421562     6512841    287       98        90      -60        RC          77            85       8      Li, Ta
  LRC0694     421523     6512839    286       98        90      -60        RC           7            9        2        Ta
                                                                                       82            87       5        Ta
  LRC0695     421605     6512804    287       92        90      -60        RC           2            5        3        Ta
                                                                                       62            77      15      Li, Ta
  LRC0696     421520     6512802    286       113       90      -60        RC          15            16       1        Ta
                                                                                       25            26       1        Ta
                                                                                       82            83       1        Ta
                                                                                       88           100      12      Li, Ta
  LRC0697     421642     6512760    288       92        90      -60        RC          56            59       3        Ta
                                                                                       69            80      11      Li, Ta
  LRC0698     421600     6512768    287       93        90      -60        RC          74            85      11      Li, Ta
                                                                                       89            94       5      Li, Ta
  LRC0699     421559     6512768    286       122       90      -60        RC          16            19       3        Ta
                                                                                       83            93      10      Li, Ta
                                                                                       100          107       7      Li, Ta
  LRC0700     421522     6512760    286       122       90      -60        RC          27            29       2        Ta
                                                                                       86           102      16      Li, Ta
  LRC0701     422442     6512157    279       198       0       -90        RC          155          175      20        Li
  LRC0702     422443     6512120    279       183       0       -90        RC          81            83       2        Ta
                                                                                       143          177      34        Li
  LRC0703     422440     6512077    279       199       0       -90        RC          74            75       1        Ta
                                                                                       146          183      37      Li, Ta
  LRC0704     422441     6512239    280       234       0       -90        RC          69            70       1        Ta
                                                                                       155          156       1        Li
                                                                                       159          160       1        Li
                                                                                       174          178       4      Li, Ta
                                                                                       190          207      17      Li, Ta
  LDD0001     421749     6512322    284      245.9     270      -60      DD Met      232.75       241.78    9.03       Li
  LDD0003     421880     6512400    286      150.4     90       -60      DD Met        113        114.91    1.91       Ta
                                                                                     132.84       142.37    9.53     Li, Ta
  LDD0007     421820     6512559    297        84      85       -60       DD          60.16        72.23   12.07     Li, Ta
  LDD0008     421817     6512800    291       42.4     87       -60       DD          24.95        32.64    7.69     Li, Ta
  LDD0009     421797     6512301    283      111.4     295      -60    DD GeoTech      84          90.53    6.53       Ta
                                                                                       91          94.83    3.83       Ta
  LDD0010     422066     6512351    285      109.9      60      -60    DD GeoTech     62.22         64.3    2.08       Ta
                                                                                      76.14        82.87    6.73     Li, Ta
                                                                                      87.88        90.22    2.34       Li
  LDD0011     422049     6512260    282       110      135      -60    DD GeoTech     74.68        76.35    1.67    barren
  LDD0012     421835     6512148    279       152      160      -60    DD GeoTech    125.85       128.23    2.38     Li, Ta
                                                                                     128.56        140.5   11.94     Li, Ta
  LDD0013     421678     6512234    283       140      295      -60    DD Geotech     57.19        59.01    1.82    barren
                                                                                      71.81        73.46    1.65    barren
                                                                                     126.45        128.3    1.85     Li, Ta
                                                                                     129.15       132.62    3.47     Li, Ta
 LRCD0041     421598     6512199    282      297.15     90      -60      RC/DD       259.13       265.35    6.22     Li, Ta
                                                                                     281.08        283.5    2.42       Ta
                                                                                     291.65        294.5    2.85     Li, Ta

Notes   1) The true width of pegmatites are generally considered 80-95% of the intercept width.
        2) Only pegmatite intercepts of 1m or more in width are included.
Table 3 | Significant Exploration Drill Intercepts

                          From          To    Interval    Li2O   Ta2O5   Nb2O5   SnO2
  Hole ID
                             m          m           m        %    ppm     ppm    ppm
 LDD0001                    234      241.78       7.78    2.46      49      64    220
            incl            239      241.78       2.78    4.27      32      20    276

 LDD0003                    113      114.91       1.91    0.06     336     115    118

                            135        141            6   2.03     137      63    183
 LRC0665                    104        105            1   0.15     159      36   1914
                            113        120            7   1.38      97     102     61
                            120        121            1   0.09     306     122    156
 LRC0667                     95         96            1   0.19     236      64     94
                             98        112           14   0.56      80      91     74
            incl            107        108            1   1.66      81     143     56
                            121        122            1   0.42       4      -5     58
                            143        144            1   0.03     187     279     47
                            157        158            1   0.35       7       7    117
                            158        159            1   0.12     182      64    116
 LRC0670                     27         28            1   0.12     193     186     62
 LRC0671                      2          3            1   0.02     327     301    248
                             28         29            1   0.04     385     150    370
 LRC0672                     29         36            7   1.35     108     118    143
                             52         54            2   0.47      49      79    102
 LRC0674                     65         72            7   0.54      56      86     83
                             82         87            5   0.80      70     104     78
            incl             86         87            1   1.59     107     193     99
 LRC0675                    147        167           20   0.77      70      85     99
            incl            150        156            6   1.74      88     128     71
                            179        180            1   0.36     125      93     51
                            188        190            2   0.07     411     154    108
                            217        218            1   0.02     247      79     22
                            235        237            2   1.29      52      65     32
            incl            236        237            1   2.27      76      93     37
                            237        238            1   0.16     330     122     22
 LRC0677                     41         50            9   0.93      63      62     81
            incl             43         46            3   1.89      46      79     63
                             71         72            1   0.07     370     343    131
                            114        115            1   0.09     155      79     93
                            117        127           10   1.11      84      67     80
                            124        127            3   1.75      64      64    113
                            127        128            1   0.27     171      86    102
 LRC0678                    204        205            1   0.04     181     122     36
                            205        207            2   0.71      89     100     41
                            211        212            1   0.32       9       7    116
                            217        219            2   0.78      81      61     96
                            219        220            1   0.15     287      93    117
 LRC0685                    119        136           17   0.93      93      89     60
 LRC0686                     67         68            1   0.05     231      86     93
                            147        156            9   0.99      81     110     63
                            160        161            1   0.45      57      79    156
                            195        197            2   0.23     183     165     82
                            199        200            1   0.39      85      72    103
 LRC0692                     61         62            1   0.06     554     114    257
                             62         69            7   1.29     456     206    240
            incl             63         64            1   3.10      84      50    258
                                From            To     Interval         Li2O   Ta2O5   Nb2O5   SnO2
  Hole ID
                                   m            m            m             %    ppm     ppm    ppm
              and                  66           68            2         1.20    1255     547    379
                                   70           71            1         0.05     194      79    472
 LRC0693                           77           81            4         0.83     164      95    313
                                   82           85            3         0.09     405     150    822
 LRC0694                            7            8            1         0.09     198      43    146
                                   85           86            1         0.02     415     207    413
 LRC0696                           15           16            1         0.11     155      36     70
                                   25           26            1         0.08     203      43    311
                                   82           83            1         0.21     672     229    216
                                   89           97            8         1.36      74      50    189
              incl                 92           94            2         2.95      56      61    151
                                   99          100            1         0.07     233      64    122
 LRC0700                           27           28            1         0.11     171      79    269
                                   87           88            1         0.19     173      86    237
                                   88           90            2         0.35      42      32    290
                                   91           92            1         0.09     204      86    175
                                   96           98            2         1.42     221     118    409
                                   99          100            1         0.14     166      50   1057
 LRC0701                          156          175           19         0.98      83      91     48
              incl                157          166            9         1.26      76      79     46
 LRC0702                           81           82            1         0.06     159      21     58
                                  143          174           31         1.46      56      65     54
              incl                148          166           18         1.88      46      68     55
 LRC0703                           74           75            1         0.05     288      36     71
                                  146          181           35         1.74      35      84     63
              incl                156          171           15         2.11      48      79     46
 LRC0704                           69           70            1         0.04     204      29    113
                                  155          156            1         0.44       2       7     44
                                  159          160            1         0.47       2       7     22
                                  175          176            1         0.09     223     100     98
                                  176          177            1         0.34      42      29     97
                                  191          197            6         0.83      78      97     56
                                  205          206            1         0.15     181      64     62

Note: Only intercepts of 0.3% Li2O or 150ppm Ta2O5 considered significant.
Table 4 | Significant Infill Drill Intercepts for Drill Holes Included in Current Resource

                          From            To     Interval        Li2O        Ta2O5       Nb2O5       SnO2
  Hole ID
                             m            m            m            %         ppm         ppm        ppm
 LRC0487                     49           57            8         0.21         231              60    101
                             87          101           14         1.38         130              66    129
              incl           91           98            7         2.15         143              65    104
 LRC0624                    120          129            9         0.76         310             122    134
              incl          122          123            1         0.34        1134             322    212
                            137          149           12         0.86         105              91     98
 LRC0626                    112          125           13         0.87         181              92     94
              incl          117          122            5         1.52         178             109    102
                            151          162           11         0.78         292             148    105
              and           156          157            1         1.35        1149             601    151
 LRC0628                    132          149           17         0.82         163              90     95
              incl          135          144            9         1.05         175              91    113
 LRC0629                    137          141            4         0.63         342             122    200
                            160          173           13         1.26         193             110    112
              incl          161          170            9         1.58         200             114    114
 LRC0679                     27           35            8         1.21         165              81    113
              incl           27           32            5         1.51         129              82    135
                             35           38            3         0.03         726             160    133
              incl           37           38            1         0.05        1210             172    258
                             87           98           11         1.34         201             101    124
              incl           93           96            3         2.26         329             150    133
 LRC0681                     55           64            9         0.76         542             143    122
              incl           56           59            3         2.02         827             219    160
              and            60           61            1         0.05        1234             229     72
                             86          109           23         1.58         193              99    120
              incl           86           87            1         0.51        1021             429    249
              and            88           92            4         2.14         148             102    134
              and            95          105           10         1.99         187              83    130

Note: Only intercepts of greater than 5.0m% Li2O or 2000 mppm Ta2O5 considered significant.



Table 5 | Significant Infill Drill Intercepts for Drill Holes Completed since the Last Resource

                          From            To     Interval        Li2O        Ta2O5       Nb2O5       SnO2
 Hole ID
                             m            m            m            %         ppm         ppm        ppm
                             m            m            m             %        ppm             ppm    ppm
 LDD0007                     61           69           8          1.48         360             168    186
              incl           61           65           4          2.26         209              86    219
                             67           70           3          0.36         739             327    189
 LRC0489                     29           34            5         0.07         340              92    105
                             72           83           11         0.90         142             102     70
              incl.          79           83            4         1.71          91              90     78
 LRC0492                     67           71            4         0.09         978             978     67
              incl           68           69            1         0.07        3083            3277     58
 LRC0493                    104          114           10         1.32          67              89     54
              incl          105          110            5         2.07          74             103     66
 LRC0494                    115          138           23         1.31          92             108     78
              incl          116          122            6         2.19          76             111    105
 LRC0495                    132          143           11         2.01          57             87      49
                            146          156           10         1.00         111             85      49
 LRC0497                     17           26            9         0.64         244             90     117
                             86           92            6         1.21         122             76      93
                          From            To     Interval        Li2O        Ta2O5       Nb2O5      SnO2
 Hole ID
                             m            m            m            %         ppm         ppm       ppm
 LRC0499                    110          138           28         1.48          70            79      58
              incl          124          136           12         2.04          72            86      66
 LRC0500                     83          105           22         1.03         114            81      89
              incl           92          100            8         2.00          77            85      77
 LRC0600                     68           77            9         1.24          70            65     115
                             68           71            3         2.61          48            57      85
 LRC0634                    108          110            2         0.10         893            312    153
              incl          108          109            1         0.09        1548            487    203
 LRC0636                    105          130           25         0.90          65             77     64
              incl          105          123           18         1.10          67             87     49
                            133          144           11         1.35          75             84     62
              incl          138          143            5         2.13          66             83     82
 LRC0637                    133          147           14         1.59          70            79      59
              incl          138          145            7         2.03          72            86      62
 LRC0638                    134          165           31         1.50          78            74      56
              incl          136          139            3         2.64          55            81      63
              and           143          151            8         1.90          61            89      50
              and           156          160            4         2.42         105            91      70
 LRC0640                     40           51           11         1.72         213            72      93
              incl           40           47            7         2.16         263            74     109
                             51           53            2         0.05         513            97     118
                             80           92           12         1.17          57            60      86
              and            87           90            3         2.00          59            69     100
 LRC0642                    134          156           22         0.87          73            89      48
              incl          141          150            9         1.24          68            88      50
 LRC0643                     74           85           11         0.75         279            165    106
              incl           75           77            2         1.58         626            179    220
 LRC0647                     88           94            6         0.02         637            161     62
              incl           91           93            2         0.02        1255            258     95
 LRC0649                    160          179           19         1.20          80            83      54
 LRC0650                    129          145           16         1.00          50            60     109
              incl          137          145            8         1.34          60            88      53
 LRC0682                     47           50            3         0.05        1011            198    107
              incl           48           49            1         0.02        2241            415    124
                             73           87           14         1.38         149             91    105
              incl           74           77            3         2.71         344            146    182
 LRC0683                     83          100           17         1.14          85            80      78
              incl           90           95            5         1.92         110            94     103
 LRC0695                     63           77           14         1.56         296            152    235
              incl           63           69            6         2.93         231            197    232
 LRC0697                     69           80           11         1.26         223             98    369
              incl           72           75            3         3.22         160            122    300

Note: Only intercepts of greater than 5.0m% Li2O or 2000 mppm Ta2O5 considered significant.
Appendix B

Section 1 Sampling Techniques and Data

  Criteria       JORC Code Explanation                                         Commentary
  Sampling       Nature and quality of sampling (e.g. cut channels,            Reverse Circulation Drilling, 1m samples collected
  techniques     random chips, or specific specialised industry standard
                 measurement tools appropriate to the minerals under           Diamond drilling, ½ core nominally 1m crushed to
                 investigation, such as down hole gamma sondes, or
                                                                               10mm. ½ of crushed sample assayed as below, ½
                 handheld XRF instruments, etc.). These examples should
                                                                               retained.
                 not be taken as limiting the broad meaning of sampling.

                 Include reference to measures taken to ensure sample          Samples jaw crushed and riffle split to 2-2.5kg for
                 representivity and the appropriate calibration of any         pulverizing to 80% passing 75 microns.
                 measurement tools or systems used.
                                                                               Prepared samples are fused with sodium peroxide and
                 Aspects of the determination of mineralisation that are
                                                                               digested in dilute hydrochloric acid. The resultant
                 Material to the Public Report. In cases where ‘industry
                 standard’ work has been done this would be relatively         solution is analysed by ICP, by Nagrom Laboratory.
                 simple (e.g. ‘reverse circulation drilling was used to
                 obtain 1 m samples from which 3 kg was pulverised to          Certified standards. Field duplicates submitted at
                 produce a 30 g charge for fire assay’). In other cases        irregular intervals at the rate of approximately 1:20.
                 more explanation may be required, such as where there
                 is coarse gold that has inherent sampling problems.
                 Unusual commodities or mineralisation types (e.g.
                 submarine nodules) may warrant disclosure of detailed
                 information.
  Drilling       Drill type (e.g. core, reverse circulation, open-hole         RC and Diamond drilling conducted in line with general
  techniques     hammer, rotary air blast, auger, Bangka, sonic, etc.) and     industry standards.
                 details (e.g. core diameter, triple or standard tube, depth
                 of diamond tails, face-sampling bit or other type,            All diamond drill holes and approx. 70% of RC drill
                 whether core is oriented and if so, by what method,           holes are angled. Approx. 30% of RC drill holes are
                 etc.).                                                        vertical.

                                                                               Diamond tails have been drilled to a max depth of
                                                                               330m.

                                                                               Diamond core has been oriented where possible using
                                                                               the Reflex Ezi-Ori tool.

  Drill sample   Method of recording and assessing core and chip sample        Chip recovery or weights for RC drilling were not
  recovery       recoveries and results assessed.                              conducted.

                 Measures taken to maximise sample recovery and                Each metre of drill sample recovery and moisture
                 ensure representative nature of the samples.                  content is visually estimated and recorded.

                 Whether a relationship exists between sample recovery
                 and grade and whether sample bias may have occurred           Opportunity for sample bias is considered negligible
                 due to preferential loss/gain of fine/coarse material.        for dry samples.

  Logging        Whether core and chip samples have been geologically          Geological logs exist for all drill holes with lithological
                 and geotechnically logged to a level of detail to support     codes via an established reference legend.
                 appropriate Mineral Resource estimation, mining studies
                 and metallurgical studies.                                    Drill holes have been geologically logged in their
                 Whether logging is qualitative or quantitative in nature.     entirety. Where logging was detailed the subjective
                 Core (or costean, channel, etc.) photography                  indications of mineral content (spodumene, tantalite)
                 The total length and percentage of the relevant               have been recorded.
                 intersections logged.                                         Assays have generally only been submitted through
                                                                               and adjacent to the pegmatites.
Criteria          JORC Code Explanation                                         Commentary
Sub-sampling      If core, whether cut or sawn and whether quarter, half or     RC samples were collected at 1m intervals and riffle or
techniques        all core taken.                                               cone split on-site to produce a subsample less than
and sample        If non-core, whether riffled, tube sampled, rotary split,     5kg.
preparation       etc. and whether sampled wet or dry.
                  For all sample types, the nature, quality and                 The RC drilling samples are considered robust for
                  appropriateness of the sample preparation technique.          sampling the spodumene and tantalite mineralisation.
                  Quality control procedures adopted for all sub-sampling
                  stages to maximise representivity of samples.                 Most samples were dry.
                  Measures taken to ensure that the sampling is
                  representative of the in situ material collected, including   Sampling is in line with general industry sampling
                       for                                                      practices.
                  instance results for field duplicate/second-half sampling.
                  Whether sample sizes are appropriate to the grain size of     Field duplicates, standards, laboratory standards and
                  the material being sampled.                                   laboratory repeats are used to monitor analyses.

                                                                                Sample size is considered appropriate.


Quality of        The nature, quality and appropriateness of the assaying       The assay technique is considered to be robust as the
assay data        and laboratory procedures used and whether the                method used (see above) offers total dissolution of the
and               technique is considered partial or total.                     sample and is useful for mineral matrices that may
laboratory        For geophysical tools, spectrometers, handheld XRF            resist acid digestions.
tests             instruments, etc., the parameters used in determining
                  the analysis including instrument make and model,             Standards and duplicates were submitted in varying
                  reading times, calibrations factors applied and their         frequency throughout the exploration campaign and
                  derivation, etc.                                              internal laboratory standards, duplicates and
                  Nature of quality control procedures adopted (e.g.            replicates are used for verification
                  standards, blanks, duplicates, external laboratory checks)
                  and whether acceptable levels of accuracy (i.e. lack of
                  bias) and precision have been established.
Verification of   The verification of significant intersections by either       Twinning of holes undertaken to date show good
sampling and      independent or alternative company personnel.                 continuity
assaying
                  The use of twinned holes.                                     The Ta and Li assays show a marked correlation with
                                                                                the pegmatite intersections via elevated downhole
                  Documentation of primary data, data entry procedures,         grades.
                  data verification, data storage (physical and electronic)
                  protocols.                                                    Drill logs exist for all holes as electronic files and/or
                                                                                hardcopy (all 2017 logging has been input directly to
                  Discuss any adjustment to assay data.                         field logging computers).

                                                                                Digital log sheets have been created with inbuilt
                                                                                validations to reduce potential for data entry errors.

                                                                                All drilling data has been loaded to a database and
                                                                                validated prior to use.


Location of       Accuracy and quality of surveys used to locate drill holes    Accurate surveying using RTK DGPS is currently being
data points       (collar and down-hole surveys), trenches, mine workings       undertaken on site. Hole collars have been preserved
                  and other locations used in Mineral Resource estimation.      until completion of survey.

                  Specification of the grid system used.                        All collars are surveyed using MGA Z51.
                  Quality and adequacy of topographic control.
  Criteria         JORC Code Explanation                                        Commentary
  Data spacing     Data spacing for reporting of Exploration Results.           Initial exploration has been conducted on an 80m x
  and                                                                           80m grid. The majority of infill drilling has been
  distribution     Whether the data spacing and distribution is sufficient to   conducted on a 40m x 40m grid with a 15,000m2 area
                   establish the degree of geological and grade continuity      drilled out to 20m x 20m.
                   appropriate for the Mineral Resource and Ore Reserve
                   estimation procedure(s) and classifications applied.         The spacing of holes is considered of sufficient density
                                                                                to provide an ‘Indicated’ or ‘Inferred’ Mineral
                   Whether sample compositing has been applied.                 Resource estimation and classification.

                                                                                There has been no sample compositing.
  Orientation of   Whether the orientation of sampling achieves unbiased        Approximately 2/3 of drilling is angled. Vertical holes
  data in          sampling of possible structures and the extent to which      have been drilled in areas where pegmatites are
  relation to      this is known, considering the deposit type.                 interpreted to be flat lying.
  geological       If the relationship between the drilling orientation and
  structure        the orientation of key mineralised structures is             The lithium tantalite-bearing pegmatites are generally
                   considered to have introduced a sampling bias, this          flat to shallowly dipping in nature. The true width of
                   should be assessed and reported if material.                 pegmatites are generally considered 80-95% of the
                                                                                intercept width, with minimal opportunity for sample
                                                                                bias.
  Sample           The measures taken to ensure sample security.                The RC samples are taken from the rig by experienced
  security                                                                      personal and stored securely and transport to the
                                                                                laboratory by a registered courier and handed over by
                                                                                signature.
  Audits or        The results of any audits or reviews of sampling             An external review of sampling techniques and data
  reviews          techniques and data.                                         has been carried out by CSA Global. No issues
                                                                                identified.



Section 2 Reporting of Exploration Results

  Criteria         Explanation                                                  Commentary
  Mineral          Type, reference name/number, location and ownership          The portfolio of mineral tenements, comprising mining
  tenement and     including agreements or material issues with third           leases, exploration licences, prospecting licences,
  land tenure      parties such as joint ventures, partnerships, overriding     miscellaneous licences, a general-purpose lease, and a
  status           royalties, native title interests, historical sites,         retention lease are in good standing.
                   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 appraisal of exploration by other         Alluvial tantalite has been mined periodically from the
  done by other    parties.                                                     early 1970s.
  parties                                                                       Gwalia Consolidated Limited undertook exploration for
                                                                                tantalite-bearing pegmatites from 1983-1998. Work
                                                                                included mapping, costeaning, and several phases of
                                                                                drilling using RAB, RC, and diamond methods. The work
                                                                                identified mineral resources that were considered
                                                                                uneconomic at the time.

                                                                                Haddington entered agreement to develop the
                                                                                resource and mining
                                                                                    ?    commenced in 2001 and continued until
                                                                                         2005.
                                                                                    ?    Haddington continued with exploration until
                                                                                         2009.
Criteria      Explanation                                                     Commentary
                                                                              Living Waters acquired the project in 2009 and
                                                                              continued with limited exploration to the north of the
                                                                              main pit area.
Geology       Deposit type, geological setting and style of                   The Bald Hill area is underlain by generally north-
              mineralisation.                                                 striking, steeply dipping Archaean metasediments
                                                                              (schists and greywackes) and granitoids.

                                                                              Felsic porphyries and pegmatite sheets and veins have
                                                                              intruded the Archaean rocks. Generally, the pegmatites
                                                                              cross cut the regional foliation, occurring as gently
                                                                              dipping sheets and as steeply dipping veins.

                                                                              The pegmatites vary in width and are generally
                                                                              comprised quartz-albite- muscovite-spodumene in
                                                                              varying amounts. Late-stage albitisation in the central
                                                                              part of the main outcrop area has resulted in fine-
                                                                              grained, banded, sugary pegmatites with visible fine-
                                                                              grained, disseminated tantalite. A thin hornfels
                                                                              characterised by needle hornblende crystals is often
                                                                              observed in adjacent country rocks to the pegmatite.

                                                                              Tantalite generally occurs as fine disseminated crystals
                                                                              commonly associated with fine-grained albite zones, or
                                                                              as coarse crystals associated with cleavelandite.

                                                                              Weathering of the pegmatites yields secondary
                                                                              mineralised accumulations in alluvial/eluvial deposits.


Drill hole    A summary of all information material to the                    Only results for drill holes that have intercepted lithium
Information   understanding of the exploration results including a            and or tantalum pegmatites of 1m or more in width
              tabulation of the following information for all Material        that have been assayed for lithium and tantalum have
              drill holes:                                                    been included in the release.
                    • easting and northing of the drill hole collar
                    • elevation or RL (Reduced Level – elevation              All drill hole details are contained in Table 1 and 2 of
                        above sea level in metres) of the drill hole collar   the release.
                    • dip and azimuth of the hole
                    • down hole length and interception depth
                    • 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.




Data          In reporting Exploration Results, weighting averaging           No cutting to intercept grades has been undertaken.
aggregation   techniques, maximum and/or minimum grade
methods       truncations (e.g. cutting of high grades) and cut-off           Assays are report as pure elements such as Li, Ta, Nb,
              grades are usually Material and should be stated.               Sn and converted to oxides using atomic formulas.
              Where aggregate intercepts incorporate short lengths of
              high grade results and longer lengths of low grade              Reported intervals in Table 1 and 2 represent the
              results, the procedure used for such aggregation should         aggregation of the intercepts containing samples of at
              be stated and some typical examples of such                     least 0.3% Li2O and/or 150ppm Ta2O5, lower grade
              aggregations should be shown in detail.                         zones are included adjacent to higher grade zones
              The assumptions used for any reporting of metal                 where the grade varies significantly from the average
              equivalent values should be clearly stated.                     of the entire width of the mineralised pegmatite. Only
                                                                              lithium, tin, niobium and tantalum oxide results are
Criteria         Explanation                                                   Commentary
                                                                               tabled, other potential by-products are currently
                                                                               considered to be insignificant in economic importance.


Relationship     These relationships are particularly important in the         Approximately 2/3 of drilling is angled. Vertical holes
between          reporting of Exploration Results.                             have been drilled in areas where pegmatites are
mineralisation                                                                 interpreted to be flat lying.
widths and       If the geometry of the mineralisation with respect to the
intercept        drill hole angle is known, its nature should be reported      The lithium tantalite-bearing pegmatites are generally
lengths          If it is not known and only the down hole lengths are         flat to shallowly dipping in nature. The true width of
                 reported, there should be a clear statement to this           pegmatites are generally considered 85-95% of the
                 effect (e.g. ‘down hole length, true width not known’).       intercept width, with minimal opportunity for sample
                                                                               bias.

Diagrams         Appropriate maps and sections (with scales) and               Drilling locations are shown on figure 1 of the release.
                 tabulations of intercepts should be included for any          Appendix A comprises is a long section through the
                 significant discovery being reported These should             principal pegmatites.
                 include, but not be limited to a plan view of drill hole
                 collar locations and appropriate sectional views.
Balanced         Where comprehensive reporting of all Exploration              Results for all drill holes that have intercepted lithium
reporting        Results is not practicable, representative reporting of       pegmatites that have been assayed for lithium have
                 both low and high grades and/or widths should be              been included in the release.
                 practiced to avoid misleading reporting of Exploration
                 Results.
Other            Other exploration data, if meaningful and material,           No metallurgical test work is referred to in this
substantive      should be reported including (but not limited to):            announcement.
exploration      geological observations; geophysical survey results;
data             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.
Further work     The nature and scale of planned further work (e.g. tests      Further RC and diamond drilling is warranted at the
                 for lateral extensions or depth extensions or large-scale     various deposits to explore for additional resources
                 step-out drilling).                                           and improve the understanding of the current
                                                                               resources prior to mining.
                 Diagrams clearly highlighting the areas of possible
                 extensions, including the main geological interpretations
                 and future drilling areas, provided this information is not
                 commercially sensitive.

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