Avira Resources Limited announced that it has entered into a binding option agreement with GTT Ventures Pty Ltd. granting the Company an option to acquire a 100% interest in licence application ELA45/5770 (‘Tenement' or ‘Yule Project') in the Marble Bar region of Western Australia. The Yule River Project is situated approximately 120km by road south of Port Hedland, accessed by the Great Northern Hwy, approximately 5km from the Wodgina Lithium Deposit (ALB/MIN: 259.2 Mt @ 1.17% Li2O) and ~30km from the Pilgangoora Lithium Deposit (PLS: 223.2Mt @ 1.27% Li2O) with numerous Li-Ta-Sn deposits located within a 130km radius with other major projects including the Marble Bar (Li) Deposit and the Tabba Tabba (Ta) Deposit. This region is considered to be a Lithium hotspot with neighbouring, significant landholders in the region including ALB (Albermarle), PLS (Pilbara Minerals Ltd), FMG (Fortescue Metals Group Ltd) & ESS (Essential Metals Ltd).

ELA45/5770 consists of 3-blocks covering an area of 9.5km2. The tenement hosts the same rock types as the Wodgina Lithium Deposit and is along-strike from numerous MINEDEX Li-Ta prospects and occurrences. 10 MINEDEX occurrences located within the tenement boundary.

Only 11 historical RC drill holes (1,011m) and 199 geochemical samples completed. The Yule Project is currently undergoing compilation and re-assessment of previous WAMEX data, complemented by a planned field reconnaissance trip to ground truth identified access and assess the pegmatite dyke orientations and general considerations of undertaking a drilling campaign in this region. Secondary assessments of the mapping completed by previous explorers will look for priority areas within the host lithologies within the tenure.

The planned field trip to the Yule River Project is to be undertaken in March 2022 and is focussed on determining appropriate access and field checking prospective structures and non-magnetic signatures observed in open-source government data. A closer assessment of magnetically low areas within the Honeyeater Basalt will be made to determine the width of LCT (lithium-ceasium-tantalum) pegmatite dyke swarms and potential for coalescence at depth within the mapped pegmatites. Extensive rock chips were collected by previous explorers and two of the identified Li anomalous zones have not been tested by drilling.

These may be similar to the already drill tested Tria prospect which has an anomalous drill hole intercept of 22 m at 0.18% Li2O including 2 m at 0.46% Li2O (WAMEX A115322) within the magnetically low zone. The highest grade rock chip at the Duus prospect is also inadequately tested by drilling. Field traverses following up 0.11% Cs2O rock chips at the Stannum prospect and two anomalous zones of rock chips in the south of the tenement application will be primary reconnaissance activities.

At the Tria prospect apparently shallow dipping LCT pegmatites were encountered below weakly anomalous surface samples. Stacked pegmatites are known to occur in the Wodgina and Pilgangoora deposits and an assessment of likely dips in the outcrops will be routinely collected in the target areas. More broadly the system is anomalous for Tin (Sn), Tantalum (Ta), Niobium (Nb) and weak anomalism in Rubidium (Rb).

Bedrock may contain areas of enrichment in these elements with small alluvial shows of Sn and Ta recorded by previous explorers. As set out above, Avira has entered into an agreement with GTT Ventures Pty Ltd. pursuant to which GTT has granted an option to Avira (‘Option') to purchase exploration licence application ELA 45/5770 in the Marble Bar region of Western Australia (‘Option Agreement'). The proposed key terms and conditions of the Option Agreement are set out below: Option Period: The Option expires on the date that is 6 months following the date of execution of the Option Agreement.

In the event that ELA 45/5770 has not been granted by this date, the option period shall be automatically extended by a further 6 months.