Dalaroo Metals Ltd. received results from its inaugural rock chip sampling program over Rare Earth Metals targets on its 100% owned 703 km2 Lyons River Project which is located centrally within the emerging REE district of the Gascoyne Province in Western Australia. A total of 45 rock chip samples collected were submitted for a multi-element REE suite analysis. Encouraging anomalous TREO results included: DM003034-­ 1536 ppm (0.15%) TREO, DM003008- 554ppm TREO, DM003033-­ 449 ppm TREO,LR804 -­ 432ppm TREO.

Dalaroo's Lyons River is dominated by rocks of the Proterozoic Age Durlacher Suite which hosts known REE deposits and mineralization in the Gascoyne Province, including the Yangibana, Yin/Sabre and Mick Well Projects. A new assessment of Dalaroo's existing detailed airborne magnetics/radiometric dataset has defined local thorium highs coincident with magnetic lows adjacent to major structures, a signature that is deemed prospective by other REE explorers in the Gascoyne region1. The interest in the area was highlighted by Minerals 260 Ltd. (ASX:M16) announcing that it will acquire the large Ti Tree rare earths-nickel-copper-lithium project adjoining Dalaroo's Lyons River Project in a deal worth more than A$15 million1.

Kingfisher Mining Ltd. announced in December 2021 confirming rare earth potential2 with 0.16% TREO and announced further exceptional REE results extend MW2 strike length to 3km at its Mick Well Project3. The Mick Well Project is located immediately to the south of Dalaroo's Lyons River Project tenements. In addition, Hastings Technology Metals Ltd. (ASX: HAS) and Dreadnought Resources Limited (ASX: DRE) REE projects are located approximately 50 km north from Lyons River.

In July 2022, DRE confirmed a high-grade REE discovery at Yin4 with mineralization outlined over 3 km plus the newly discovered Sabre (Y3)5 area extends over 1 km. DRE's immediate neighbor to the northeast of Yin is Hastings which has a current JORC Resource6 of 27.42Mt @ 0.97% TREO with 0.33% Nd2O3+Pr6O11. Yangibana is under construction and development with first production planned7 for 2024.

Dalaroo's additional REE targets for the initial rock chip sample program utilized Landsat 8 scene data to outline areas of ironstones with a spectral response similar to those observed at Yangibana and Yin3.