Lindian Resources Limited announced the receipt further assays from the Phase 1 drilling program at the Kangankunde Rare Earths Project in Malawi. The assays reported are for reverse circulation holes, KGKRC005, KGKRC007, KGKRC009 KGKRC0010 and KGKRC011. All holes have intersections of non-radioactive material with excellent grade for their entire lengths and with a large percentage of critical Rare Earths metal elements of NdPr.

Assay results have been received for a further 5 reverse circulation holes, KGKRC005, KGKRC007, KGKRC009, KGKRC010 and KGKRC011 from the Phase 1 drilling program on the Kangankunde Rare Earths Project. These holes were designed to evaluate two areas: KGKKRC005 and KGKKRC007 targeted discrete carbonatite zones on the western side of the complex observed from surface mapping to be within a mixed breccia host. Assay results from these drill holes show both holes intersected thick high-grade rare earths mineralisation including 82 metres at 3.12% TREO in KGKRC005.

Thick intersections of mineralization including assays of 65 metres at 3.64% followed by 29 metres at 3.71% in KGKRC007. Examination of drill core of the unassayed KGKRCDD003 indicates this high-grade carbonatite hosted mineralisation is bounded to the east by a mixed breccia of carbonatite and wall rock as also indicated by the surface mapping. Mineralisation is present at the end of both holes, and they will be extended by core drilling The main central carbonatite to the east of KKRC007 and approximately 50 to 100 metres south of previously reported TREO assay intercepts.

Hole KGKRC009 and KGKRC010 both intersected mixed breccia with KGKRC009 passing into the main carbonatite body at 38 metres depth. KGKRC009 was mineralised throughout with the carbonatite from 81 metres to 131 metres recording 50 metres 2.75% TREO. KGKRC009 will be extended with core drilling further east to test the full width of the central carbonatite.

KGKRC010, a vertical hole, was drilled entirely in consistently mineralised mixed breccia of carbonatite and altered wall rock, with the entire hole intersecting 138 metres at 1.47% TREO. KGKRC11, a vertical hole drilled 60 metres south-south-west of KGKRC010 in the central carbonatite was stopped at 32 metres depth due to broken ground. The hole intersected carbonatite for its full depth with 32 metres at 2.68% TREO including 19 metres at 3.08% from 13 metres to the end of hole.

This area will be subject to follow up drilling later in the program. The mineralisation is dominated by light rare earths cerium, lanthanum, neodymium and praseodymium. The total of Nd+Pr content in oxide form constitutes on average 19% of the TREO in all holes reported.

Radionuclides uranium and thorium continue to be low in all drilling. Detailed individual interval assays are shown in Appendix 2 of this release. The western high-grade rare earths intercepts in the western holes KGKRC005 and KGKRC007 both show markedly lower levels of radionuclides than the eastern holes.

This also indicates likely different carbonatite phases with some compositional variation. The Phase 1 drilling program is presenting core samples of the deposit that are allowing classification of the rock types and mineralisation by the geology team. The most common rock type seen is carbonatite, which is variably altered with iron oxide, manganese oxide and pink potassic alteration.

To date all the carbonatite assayed has been mineralised with rare earths elements hosted in the mineral monazite. A typical monazite contains various quantities of light rare earths with the most common composition being PO4. Thorium is typically elevated in most monazite occurrences.

The monazite at Kangankunde has an unusual variation including rare earths elements like praseodymium but with very low thorium levels. Kangankunde contains brecciated rocks related to wall fracturing during the intrusive formation including mixed breccias of carbonatite and the wall rock, often altered gneiss. This rock is being called a mixed breccia and contains mineralisation in monazite bearing carbonatite occurring as clasts and matrix.

The Kangankunde drilling program is planned in separate phases with distinct target outcomes. The Company commenced drilling at Kangankunde in late October 2023 with the intention to undertake a drill program that could potenitally culminate in a mineral resources estimate by June 30 2023. PHASE 1 DRILL PROGRAM: The Phase 1 program consists of 10,000 metres of RC drilling and 2,500 metres of core drilling on the Kangankunde hill top.

The drill pattern is based on 50 metre east-west sections, and as radial fans perpendicular to the interpreted carbonatite boundary where topography provides access. The program is designed to give initial data for resource evaluation and mine planning. PHASE 2 DRILL PROGRAM: Two additional deep drill holes are planned from drill pads near the base of the Kangankunde hill and are designed to allow drilling to continue during the wet season.

These two drill holes, each planned to be 1,000 metres in length, are designed to test the N-S and E-W axies of the carbonatite between 300 metres and 800 metres below the hill top. The Phase 2 Drll Program has not yet commenced.