Burley Minerals Limited announced the update on the status of the strategic acquisition of the Chubb Lithium Project in the Canadian Province of Quebec, and the exploration approvals for a scheduled drilling commencement programme in late February 2023. The Chubb Lithium Project is strategically located in the heart of the world-class lithium province of Quebec, Canada, which hosts major lithium projects including Sayona Mining Ltd. and Piedmont Lithium Inc.'s North American Lithium (NAL) mines, operations, and Mineral Resources totalling 119Mt @1.1% Li2O. NAL is located 10km North-East of the Chubb Lithium Project.

The Phase 1 drilling program for up to 5,000 metres of NG diamond core, is designed to verify, extend and confirm the extent, depth and orientation of the spodumene-bearing lithium pegmatites logged and drilled in the central area of the 35 Mineral Claims to be acquired in the Chubb Lithium acquisition deal - refer Figure 6 for mineral claim map and access roads. Dahrouge, a geological consulting firm, located in various jurisdictions within Canada and Quebec, have mobilised to the Chubb Lithium Project district and frequented the core sheds located within the neighbouring town of Val d' Or. The group will manage the pending interface between the Canadian drilling contractors and the Australian geological and modelling teams, for the effective execution of the Phase 1 drilling program.

Dahrouge has specialised lithium expertise and knowledge associated with the geology and mineralisation of pegmatites within the Quebec Province and are confident with the re-logging and data base generation process currently being undertaken in Val d' Or. The future logging database will amalgamate with the old and new drilling programs and will include "down-hole" geotechnical and mineralogical surveying. Burley's recent signing of an Agreement to acquire 100% ownership of three projects in the World- Class Tier-1 jurisdictions of Quebec, Canada and Western Australia which expands the Company's exploration footprint into high-grade lithium-bearing spodumene Projects.

This creates an outstanding opportunity for Burley Shareholders to benefit from future value enhancement achieved through exploration success.