Sovereign Metals Limited reported the first batch of assay results from the 2017 aircore drilling program completed at the Malingunde saprolite-hosted flake graphite deposit in Malawi. Aircore drilling was conducted in late 2017, with 210 holes for 6,212 metres completed. The drilling program was designed to further define and upgrade the JORC resource classification levels for inclusion in the Malingunde Pre-feasibility Study, as well as to test graphite mineralisation at Malingunde South Extension and other targets. The results continue to confirm the excellent consistency of high-grade mineralisation along strike, as well as the substantial vertical thickness of the deposit, and will be incorporated into the updated JORC resource estimate, expected to be delivered in early second quarter of 2018. Assays for the first batch of aircore samples (36 holes of total 210) have been received. These holes focused on infilling the southern-most zone of mineralisation at Malingunde. Results for the 192 remaining aircore holes, including drilling at Malingunde South Extension, are expected to be delivered over the coming 4 to 6 weeks, and will be provided to the market when received. The results continue to show zones of discrete, very high-grade saprolite-hosted graphite within the broader mineralised zones over >3.5km of strike. The 2017 infill drilling program comprised 210 aircore holes for 6,212 metres of drilling. Results for the first 36 aircore holes targeting the southern part of the main Malingunde deposit have been received. The initial assay results continue to confirm the excellent consistency of high-grade mineralisation as well as the substantial vertical thickness of the deposit, and will be incorporated into the updated JORC resource estimate, expected to be delivered in early second quarter of 2018. The deposit contains very high-grade zones (circa 20% TGC) of very coarse flake graphite mineralization hosted in very soft saprolite. The combination of grade, flake size and the very soft nature of the host saprolite create the potential for very low cost, high margin production. Results for the remaining holes from the 2017 aircore drilling program at Malingunde will be reported as they are received over the coming weeks. The Company also expects to provide an update to the market on the ongoing Malingunde Pre-Feasibility Study shortly.