Three large and significant soil geochemistry anomalies for a range of battery metals and precious metals have been identified at Impact Minerals Limited's 100% owned Beau Project, part of the greater Arkun- Beau-Jumbo project area in the emerging mineral province of southwest Western Australia. Previous work by Impact across the Arkun and Beau project areas using a proprietary geophysical-geochemical technology owned by Southern Sky Energy Pty Ltd, identified 17 broad areas of interest, principally for Ni-Cu- PGM mineralisation, for follow-up work. Reconnaissance soil geochemistry traverses along gazetted roads and tracks over 15 of these targets identified a total of 22 more specific targets for both Ni-Cu-PGM mineralisation and, for the first time in the area, lithium- caesium-tantalum pegmatites and Rare Earth Elements (REE).

A number of the original targets returned anomalous soil results for more than one style of mineralisation. Targets for both Ni-Cu-PGM and lithium were identified at Beau. Results of the Soil Geochemistry Survey Four significant anomalies have been identified at Beau by a more detailed follow-up soil geochemistry survey, one each for nickel-copper-PGM and gold-palladium and two for lithium-caesium-tantalum.

The samples were taken at a spacing of 200 metres by either 200 metres or 400 metres and submitted for the ionic leach method at ALS Laboratories in Perth. A response ratio is a simple measure of how anomalous a soil geochemical value for a particular element is above the local background value of that element which is conventionally simply calculated as the mean of the lowest quartile of data. The magnitude of each analytical result is then expressed as a response ratio, which is a times background value, calculated by dividing each result by the background value.

Thus, a response ratio of 3 is a value three times background. This procedure normalises the data and allows the response ratios for individual metals that occur within assemblages specific to say, nickel-copper-PGM-gold and lithium-caesium-tantalum mineralisation to be added together in order to amplify the metal associations. 1. NICKEL-COPPER-PALLADIUM-PLATINUM-GOLD RESULTS: The results for nickel-copper-palladium-platinum, together with spatially associated metals silver, cobalt and gold are shown as additive response ratios on an image of the regional magnetic data.

These metals are considered pathfinder metals for many mafic-associated massive sulphide systems globally. One large coherent anomaly that is up to 2.5 km long north-south and 1 km wide with combined responses up to 88 times background has been identified in the north west of the Beau tenement. Particularly strong responses occur along two traverses (Traverse A and B).

On Traverse A strong responses in particular for copper-nickel-palladium-cobalt occur at the western end of the traverse in an area where there are numerous loose boulders of layered gabbro. Layered gabbros are mostly found as part of large mafic intrusions that host massive nickel-copper sulphide deposits. Impact is the first company to record such rocks in the area.

This is a highly encouraging development and further field checking is required. On Traverse B moderate responses for copper-nickel-cobalt-palladium occur over a broad area of about one kilometre. This area has not been field checked and is also a priority area for follow up work.

2. GOLD: A discrete gold-palladium-in-soil anomaly about 500 metres in diameter has been identified in the central part of the Beau project. The responses for both metals are moderate and are associated with strong magnesium responses. Although not discussed here, magnesium is strongly correlated with REE elements in the soil geochemistry data and together these suggest the responses may be related to an alkaline intrusion.

The area has not been field checked and this is a priority area for further work. 3. LITHIUM-CAESIUM-TANTALUM: Two large irregular shaped soil anomalies each about 1 kilometre in dimension with modest to strong response ratios for lithium-caesium-tantalum have been identified in the north east and central parts of the Beau project. As well as these three metals, there are also variable responses for the associated metals beryllium and niobium and additive response ratios for all five metals.

Particularly strong responses occur on Traverse C. These five metals commonly form part of a zoned system of pegmatites in a widely used model for exploration for lithium-dominant pegmatites. Responses for the individual metals do vary significantly within the two areas identified, but together the responses are permissive of a large zoned pegmatite system. There are indications of such zonation along Traverse C. Of note, the southern anomaly also partly rings the gold-palladium anomaly, suggesting a possible genetic relationship.

Both of the geochemical anomalies occur in areas of poor outcrop and extensive laterite and require detailed field checking and possible infill soil geochemistry samples to better define any possible zonation. The results of Impact's first ever detailed soil geochemistry programme at Beau and within the greater Arkun-Beau-Jumbo project area has successfully identified four high-priority target areas for further work and cover a wide range of battery and precious metals. The geological terrain, which is very poorly explored, is permissive for significant mineralisation of the types discussed here, and Impact considers the results from its exploration targeting work in this region thus far highly encouraging It is equally encouraging that Impact's targeting methodology and exploration workflow exemplified here has returned numerous areas for follow-up work and this augers well for Impact's other projects throughout the emerging mineral province of Western Australia where the same work flow is being applied.

A further 600 soil samples have already been taken across a number of other targets within the Arkun project and have been submitted to ALS for assay. These results are eagerly awaited although there are currently significant back logs and long turn-around times. At Beau, follow-up field checking and sampling will commence by the end of August with the aim of prioritizing areas for reconnaissance drill traverses as soon as practicable.

Access will be restricted for drilling until the harvest period later in the year. This will however allow time for the statutory approvals to be lodged.