Black Canyon Limited advised that it is acquiring 100% of granted licence E46/1383 (excluding copper rights as outlined below) adding a further 351km² to the Company's prospective manganese portfolio in the eastern Pilbara. The tenements further consolidate prospective manganese enriched shale horizons extending over 75km strike from the manganese Mineral Resources Estimate for Balfour South, Sixty Sixer, Flanagan Bore and the past producing manganese mine of Nicholas Downs. With the commencement of the 2023 field season the Company is planning to drill a number of high priority targets on E46/1383, the Balfour east and west targets adjacent the historic Balfour South Mineral Resource and the 10km long Pickering manganese enriched calcareous shale horizon.

Summary of the acquisition terms: Black Canyon has entered into a binding Tenement Sale Agreement (`Agreement') with Access Australia Mining (AAM), a 100% owned subsidiary of Killi Resources (ASX:KLI) to acquire 100% of E46/1383 from the vendor for the following consideration: The issue $200,000 worth of Black Canyon Ordinary Shares, with the number of Black Canyon Ordinary Shares issued based on the volume weighted average price (VWAP) of Black Canyon Ordinary Shares (Consideration Shares), calculated over 20 trading days before the Execution Date upon the satisfaction of typical conditions precedent that are expected for a tenement sale agreement. Milestone based payment of $300,000 worth of Black Canyon Ordinary Shares (Deferred Consideration Shares) upon estimation of JORC compliant Mineral Resources from E46/1383 equal to, or greater than 50Mt grading at least 10% Mn. The number of Black Canyon Ordinary Shares to be issued will be based on the volume weighted average price (VWAP) of Shares calculated over 20 trading days before the ASX announcement is released reporting the Milestone has been met.

AAM will retain the rights to explore for and mine any copper mineralisation on the tenements under a Mineral Rights Deed that has been executed by Black Canyon and AAM. The Consideration Shares and Deferred Consideration Shares are subject to 12 months escrow from date of issue.