Conico Limited provided an up- date on the Mt Thirsty Joint Venture (the MTJV) following the recent palladium-plat- inum-gold-copper-nickel discovery by Galileo Mining Ltd. lo- cated less than 200 metres from the northern tenement boundary held by the MTJV. The MTJV is located 16 kilometres North-Northwest of Norseman, Western Australia and is owned by Greenstone Resources (50%) and Conico Limited (50%). Following the recent Callisto discovery by Galileo (GAL, ASX Announcement 11 May 2022) the MTJV have subsequently sought to expedite the maiden exploration cam- paign testing for southerly extensions of the mineralisation on to the MTJV tenements.

An updated Heritage Agreement with Ngadju covering all licences held by the MTJV has been entered into, with a detailed Archaeological and Ethnographic her- itage surveys covering both PGE and LCT targets completed last week. Concurrently Programme of Work (PoW) applications were submitted with the Department of Mines, Industry Regulation and Safety and have subsequently been approved, al- lowing for up to 10,000 metres of drilling between the two PoW areas. Finally, a large multipurpose diamond and reverse circulation drill rig has been en- gaged, which will be double-shifted and staffed by multipurpose drillers.