Boadicea - Lithium Tenement Application

Boadicea Managing Director Jon Reynolds commented: 'Boadicea has continued to demonstrate an ability to identify unpegged ground to acquire quality exploration projects at low cost.

The Hanns Gully Lithium Project provides an excellent additional Queensland based project that strongly aligns the company with the metals of the future. Boadicea will continue to seek other quality lithium projects within Australia as part of our growth into metal exploration for the EV market. This further reinforces our commitment to our nickel and copper projects and positioning us as an explorer for high demand metals to meet the needs of a cleaner, greener future.'

HIGHLIGHTS

Application for Hanns Gully tenement (EPMA28125) adds lithium exploration in Boadicea's portfolio.

Low-cost entry gives Boadicea excellent upside in new lithium discovery project in Australia.

Hanns Gully is located in the Croydon district of North Queensland, an area historically mined for tin with 58 known occurrences within the tenement boundary.

Targeting greisen style igneous lithium deposits that are strongly associated with tin.

Total area of 296km2.

BOA exploration strategy now fully committed to four (4) of the key electric vehicle (EV) metals - copper, nickel, cobalt, lithium.

The BOA portfolio of exploration metals forecast to experience a huge demand increase by between 1.5 to 5.5 times by 2030.

Tenement has additional exploration potential for gold, tin, tungsten and tantalum mineralisation.

Hanns Gully Lithium Project

Boadicea Resources Ltd ('the Company' or 'BOA) has completed an application for a new exploration licence in Northern Queensland. The project will be known as Hanns Gully (EPMA28125) after a historic tin mining project in the region. The licence has a total area of 296km2. Hanns Gully is located only 11km south-east of the Croydon gold mining district, but BOA has identified it primarily as an exploration project for greisen-style lithium mineralisation.

The key focus of BOA's lithium exploration in the region is the association of lithium with extensive high grade tin mineralisation and previously identified greisen granite within the Esmeralda Granite that covers almost 100% of the area covered by the application.

Hanns Gully Geology

The application is centred on historic tin workings known as the Stanhills tin field within the Esmeralda granite. Between 1900 and 1936 it is estimated that 260 tonnes of cassiterite concentrates were mined from numerous small but high-grade lodes. Previous explorers reported that tin mineralisation is commonly associated with strong alteration of the granitic rocks. These greisen zones are fine-grained and composed principally of quartz and muscovite in approximately equal quantities. Lithium micas zinnwaldite and lepidolite are commonly associated with altered granites.

The Stanhill field tin lodes are typically associated with chloritic and/or greisen (quartz-muscovite-topaz) alteration of the host rocks. The lodes commonly contain cassiterite, quartz and fluorite as well as sulphide minerals including chalcopyrite, pyrite, sphalerite, galena and arsenopyrite. Initial exploration will be focussed on the potential for large greisen bodies that could contain lithium mineralisation.

Features of Greisen Style Lithium Mineralisation

There are about 120 different lithium bearing minerals. The target of exploration at Hanns Gully is greisen igneous formation, which are hydrothermally altered rocks that are associated with granitic intrusions.

Greisens correspond to some parts of a granite intrusion transformed by hot hydrothermal fluids into an assemblage mainly composed of muscovite and quartz. Greisens are porous rocks and in these pores can be found apatites, cassiterite and sulphides. Greisens are located at the roofs of granite intrusions as well as along faults intersecting the granites. Greisens developed in crustal granites are typically associated with Sn-W deposits[1].

As an example of a world class greisen-style deposit is the Cinovec deposit in the Czech Republic (European Metals Holdings) contains an indicated resource of 372.4 Mt of mineralized greisens grading 0.4% Li2O mainly in the form of zinnwaldite. Cinovec is the largest lithium resource in Europe and also the world's fourth-largest non-brine deposit.

Contact:

Jon Reynolds

Tel: [phone]

Email: [e-mail]

Web: www.boadicea.net.au

Disclaimer

Information included in this release constitutes forward looking statements. Often, but not always, forward looking statements can generally be identified by the use of forward-looking words such as 'may', 'will', 'expect', 'intend', 'plan', estimate', 'anticipate', 'continue' and 'guidance' or other similar words, and may include, without limitation, statements regarding plans, strategies and objectives of management, anticipated production or construction commencement dates and expected costs or production outputs. Forward looking statements inherently involve known and unknown risks, uncertainties and other factors that may cause the company's actual results, performance, and achievements to differ materially from any future results, performance, or achievements. Relevant factors may include, but are not limited to, changes in commodity prices, foreign exchange fluctuations and general economic conditions, increased costs and demand for production inputs, the speculative nature of exploration and project development, including the risks of obtaining necessary licenses and permits and diminishing quantities or grades of reserves, political and social risks, changes to the regulatory framework within which the company operates or may in the future operate, environmental conditions including extreme weather conditions, staffing and litigation.

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