Diversified exploration company PepinNini Minerals Limited (ASX: PNN) (PepinNini, the Company) is pleased to announce that the first phase of drilling has commenced at its Eyre Peninsula KaolinHalloysite Project in South Australia.

The Eyre Peninsula Project consists of three Exploration Licences (EL6677, EL6681 and EL6689), covering a total area of 1,413km2 , strategically located adjacent to Andromeda Metals' (ASX: ADN) Kaolin-Halloysite Project areas on the western side of the Eyre Peninsula. PepinNini plans to conduct up to 130 holes for a total of 7,800 metres of aircore drilling at priority targets across the three Exploration Licences in this first phase of drilling. Drilling is planned to be undertaken to an average of depth of 60 metres (with a maximum depth of 100 metres).

Mobilisation to site and all site preparations have been completed, and drilling has commenced today at EL6689, the southern-most Exploration Licence, which hosts the highest priority targets. There is a significant historical kaolin site west of Kapinnie within licence EL6689. PepinNini has conducted a site visit to this area and mapped this priority target. An historic discovery of snowwhite kaolin estimated to be in excess of 7 metres thick, at a depth of 6.1 metres, was reported from this site (Dickinson, 1943, SA Mining Review 78).

Drilling is then planned to progress to the nearby EL6677, and then to EL6681 in the northern part of the Eyre Peninsula. Drill targets have been identified from historical exploration including geophysics. The program is designed to test the depth and areal extent, plus mineralogy, of known and suspected kaolin occurrences.

Drilling will also test other target areas defined by geophysical assessment of suitable underlying basement. The first phase of drilling is expected to take eight weeks to complete, which takes into account travel time between EL6677 and EL6689 in the south, and EL6681 approximately 240kms to the north. The Company plans to undertake pXRF analytical testing and 'whiteness' measurement onsite, which will provide a rapid confirmation of kaolin content and subjective quality in drilled material.

Laboratory assay results will be released as they become available, and subject to results, a second phase of drilling is planned to further expand the kaolin footprint and drill test new target areas, along with additional sampling for characterisation (quality) tests. Experienced kaolin drilling contractor McLeod Drilling is undertaking the program, which is being overseen by PepinNini exploration manager Steven Cooper.

About the Eyre Peninsula Kaolin-Halloysite Project

The Eyre Peninsula Kaolin-Halloysite Project area hosts known historical occurrences of kaolin, and geophysical studies have also highlighted other areas that appear prospective for the presence of sub-surface kaolin. Despite this kaolin prospectivity and project area's location adjacent to the kaolin deposits currently being explored and developed by Andromeda, PepinNini's assessment of the Project area indicates that it has yet to be systematically explored for kaolin. The combination of under explored tenure and prospectivity represents an excellent exploration opportunity, and the discovery of material new kaolin and halloysite (a tubular polymorph of kaolin) deposits is the core focus of the Company's works programs at the Eyre Peninsula Project.

There is a significant historical kaolin site west of Kapinnie within licence EL6689. PepinNini's technical team conducted a site visit to this area recently and has mapped the target. An historic discovery of snow-white kaolin estimated to be in excess of 7 metres thick, at a depth of 6.1 metres, has been reported from this site (Dickinson, 1943, SA Mining Review 78). An access agreement has been signed with the land owner over this area, and this is proposed to be the initial focus of PepinNini's first phase of drilling.

Contact:

Tel: +61 8 8218 5000

Email: admin@pepinnini.com.au

About PepinNini Minerals

PepinNini Minerals Limited is a diversified ASX-listed mineral resources exploration company with a portfolio of projects in demand driven commodities. It is focused on the systematic exploration and development of its projects. These include the Salta Lithium Brine Project in the prolific lithium triangle in the Salta Province in Argentina, the Eyre Peninsula Kaolin-Halloysite Project, strategically located on the Eyre Peninsula in South Australia, and the Musgrave Nickel-Copper-Cobalt-PGE Project in the Musgrave Province in northern South Australia. The Company also holds the Santa Ines Copper-Gold Project in Argentina, located in the same geological setting as BHP's world-class, nearby Escondida Copper-Gold Mine in Chile.

Forward Looking Statements

This announcement contains 'forward-looking information' that is based on the Company's expectations, estimates and projections as of the date on which the statements were made. This forward-looking information includes, among other things, statements with respect to the Company's business strategy, plans, development, objectives, performance, outlook, growth, cash flow, projections, targets and expectations, mineral reserves and resources, results of exploration and related expenses. Generally, this forward-looking information can be identified by the use of forward-looking terminology such as 'outlook', 'anticipate', 'project', 'target', 'potential', 'likely', 'believe', 'estimate', 'expect', 'intend', 'may', 'would', 'could', 'should', 'scheduled', 'will', 'plan', 'forecast', 'evolve' and similar expressions. Persons reading this announcement are cautioned that such statements are only predictions, and that the Company's actual future results or performance may be materially different. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company's actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forwardlooking information.

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