These results clearly define a coherent, north-northeast trending plane of mineralisation with at least 500m strike, within a broader, low-grade envelope of stratabound mineralisation. Repetition of sub-vertical lode structures are expected to the northeast where the intrusion dips beneath the over-thrust granite and drill density is low. The intrusion, as well as mineralisation, is also open to the north, where it plunges beneath metasedimentary units, which was verified by YARC0035 in an earlier program.

The ultramafic units can be recognised as a subtle feature in magnetics, extending a further 1.5km north of recent drilling. There are several airborne electromagnetic (AEM) conductors in this area such as XC-19 and XC-27 that are yet to be tested by ground geophysics or drilling. The recognition of an additional structural control to the mineralisation at Serradella presents new opportunities for discovery of mineralisation in shallower positions than were previously expected.

As an example, the high-grade intercept in YARCD0065 is much closer to surface (higher in the intrusion) than was anticipated. Further High-Grade Rhodium Mineralisation A characteristic of the PGE mineralisation at Serradella is the presence of significant rhodium in many of the higher-grade lode positions. The intersection in YARC0066 includes 8m @ 0.17g/t Rh, including a peak value of 0.54g/t Rh from 114m (for a combined 7.39g/t 4E, the highest single metre PGE intersection at the Yarawindah Project to date).

Re-sampling of the high-grade PGE zone in YARCD0052 has also returned significant rhodium mineralisation, now reporting 3.89m @ 3.34g/t 4E (0.11g/t Rh), 0.27% Ni, 0.31% Cu. The intersection in YARCD0052 demonstrates that rhodium mineralisation occurs in many of the interpreted lode positions throughout the prospect, not just associated with the lode position in YARC0036. Better rhodium mineralisation is generally associated with platinum-dominant mineralisation throughout Serradella, although not exclusively, as demonstrated by YARCD0052.

Only YARCD0052 and YARC0066 have been assayed for the full 6-element PGE suite from the current program. The Company will wait until all remaining assays are received before re-submitting a more comprehensive batch of samples for complete 6E assaying. The presence of rhodium adds significant value to the mix of PGEs, nickel and copper at Serradella.

Forward Plan: The return of a large number of drilling results has forced a natural break in the drilling program whilst the company interpret this large amount of new data. There remain 13 drill holes that still require a diamond tail to reach target depth, with the geological team assessing the priorities for completion of the program. Assays from a further 12 holes remain pending, including further close-spaced holes to the south of YARC0036 towards Central Yarabrook.

The MLEM survey is continuing to test the down-dip and plunge position of the Serradella mineralisation. The Company will also test AEM conductors to the north of Serradella, such as XC-27. These AEM anomalies were considered low priority initially but have been given greater significance with the new geological interpretation.

MLEM is a ground-based geophysical technique designed to identify hidden conductive bodies, such as accumulations of massive sulphide, below the surface. It has much greater penetrative qualities than airborne systems and in good ground conditions can be effective up to depths of several hundred metres. Infill and extension of the regional soil geochemistry coverage is still scheduled for the current summer season, evaluating new areas of the project which are yet to see any modern exploration for nickel, copper and PGEs.