Boadicea Resources Ltd. has completed terms for the acquisition of 80% of the Two Tanks lithium project (E29/994). The Two Tanks project is located 570km north-east of Perth, Western Australia in the emerging lithium region of Mt Ida. The area around Two Tanks is emerging as a new lithium province with significant developments along a prospective zone of approximately 35km strike length.

This corridor has two significant lithium developments led by Red Dirt Metals' Mt Ida lithium project with the recently announced mineral resource of 12.7Mt @1.2% LiO2. Recent high-grade results from surface rock chips by St George Mining has provided confirmation of the prospectivity of the corridor and more importantly has determined that the same lithium bearing pegmatites may extend within E29/994. Recent drilling by St George on the Jailbreak prospect reportedly intersected lithium bearing minerals within pegmatites 3 up to 200m below surface and St George is currently completing further drilling to test the extent of the pegmatites including up to the Two Tanks tenement boundary.

The regional lithium prospectivity is interpreted to be associated with the large Copperfield Granite which may be a source of the Lithium-Caesium-Tantalum (LCT) pegmatites. A prospective LCT corridor is interpreted between the contact with the Copperfield Granite in the east and the Ida Fault in the west. The due diligence completed by Boadicea has highlighted two different pegmatite orientations, a north-south and an east-west set.

Recent drilling within E29/994 has focussed on the N-S pegmatite swarm whereas Boadicea will target the E-W pegmatites as a potential extension to the Jailbreak pegmatites. TWO TANKS ACQUISITION TERMS: Boadicea has acquired 80% equity of E29/994 from Mr. Mark Selga for AUD 150,000 in cash and $150,000 in newly issued Boadicea shares. The shares will be priced at $0.08 per share, with new shares to be allotted to Mr. Mark Selga or his nominee under the Company's 15% placement capacity within 14 days' of this announcement.