Battery Minerals : Assays from aircore drilling highlight 1600m gold anomaly

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ASX Announcement

7th December 2021

Stavely-StawellCopper-Gold Project, Victoria

Assays from shallow aircore drilling

highlight 1600m gold anomaly

Battery Minerals Limited (ASX: BAT) ("Battery Minerals" or "the Company") is pleased to advise that it has completed 5,737m of aircore drilling at the Nine Mile and Kent Road prospects at its Stavely-StawellCopper-Gold Project in Victoria.

Up to the end of November 2021, Battery Minerals has completed 9,210 metres of aircore drilling at its Stavely-StawellCopper-Gold Project in Victoria.

Nine Mile Prospect

Nine Mile Prospect is one of the five initial targets which are being tested as part of a 15,000m aircore drilling programme. Initial results were reported 25 October 2021, comprising 18 aircore holes (21BATAC081-21BATAC109 for 1638 metres and an average depth of 56 metres).

The Company has now received results for a further 38 holes (21BATAC110 to 21BATAC147) for 1901 metres drilled to an average depth of 50 metres. Drilling complemented previous results, defining extensive bedrock mineralisation proximal to the regionally prospective Moyston fault. Better results include:

• 21BATAC116, 15 metres at 0.14 g/t Au from 8 metres
• 21BATAC122, 2 metres at 0.32 g/t Au from 23 metres
• 21BATAC147, 8 metres at 0.15 g/t Au from 24 metres

The Company's aircore drilling is consistently and effectively penetrating to bedrock, testing prospective trends and to date has demonstrated a 1,600 metre long +0.1 g/t Au anomaly at the Nine Mile Prospect.

The Moyston Fault is a district-scale structure that contains the historical Moyston Mine and numerous other historical gold workings.

Importantly, anomalous and strategic intercepts will undergo a full suite of multi-element and base metal analysis (See Appendix 2: Nine Mile Aircore Drilling and Updated Assay Results for full details).

Kent Road Prospect

A further 46 aircore holes (21BATAC147-21BATAC191) for 2,198 metres for an average depth of 48 metres have been completed at the Kent Road Prospect. The Kent Road Prospect is within the prospective Dryden Belt volcanics. This copper target was identified by aerial- magnetics as a potential blind intrusive under approximately 20 metres of unconsolidated sand cover. Fine disseminated sulphides were encountered in the drilling. The prospect is located within the Dryden Belt of the Mount Stavely Volcanic Complex which hosts Thursday's Gossan and Morning Bill to the south. Gold and multi-element results for this program are expected to be reported in the March 2022 Quarter.

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2022 Drilling

Drilling at the Stavely Stawell project is ongoing and will continue until the 17th of December then resume in the new year. Between now and Christmas the Company will move to commence testing targets in the historical Cosmopolitan mine area, including Rutters track, White Rabbit, Frying Pan and Coxs find.

Battery Minerals' Executive Chairman David Flanagan said: "The team have hit the ground running, completed some promising drilling campaigns, generated some terrific results, defined new anomalies and intersected some great-looking geology.

"With drilling ongoing, more results to come and the recent appointment of well-known geologist Peter Duerden as Managing Director, we are very excited about what we have in front of us".

21BATAC122

21BATAC147,2m at 0.32 g/t Au from 23 m 8m at 0.15 g/t Au from 24 m

21BATAC116

15m at 0.14 g/t Au from 8m

Figure 1: Nine Mile Creek Prospect, aircore drilling

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Figure 2: Nine Mile Prospect Location over Gravity data

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Figure 3: Stavely Stawell Au- Cu Project

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Authorised for release by the Board of Battery Minerals Limited

Investor Enquiries:	Media Enquiries:
David Flanagan	Paul Armstrong
Chairman, Battery Minerals Limited	Read Corporate
Tel: [phone]	Tel: [phone]
Email: [e-mail]	Email: [e-mail]
Tony Walsh
Company Secretary, Battery Minerals Limited
Tel: [phone]
Contact Details (Australian Office):
Ground Floor, 10 Ord Street
West Perth, WA 6005
Australia
Tel: [phone]

Battery Minerals' Competent Person's Statement

The information in this announcement that relates to Exploration Targets, Exploration Results or Mineral Resources is based on information compiled by Scott Robson, who is a Chartered Professional Member of The Australasian Institute of Mining and Metallurgy, and Member of the Australian Institute of Geoscientists, and is currently Exploration Manager- Victoria for Battery Minerals Limited. Mr Robson has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration, and to the activity which he is undertaking, to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Mr Robson consents to the inclusion in the announcement of the matters based on his information in the form and context in which it appears.

Important Notice

This ASX Announcement does not constitute an offer to acquire or sell or a solicitation of an offer to sell or purchase any securities in any jurisdiction. In particular, this ASX Announcement does not constitute an offer, solicitation or sale to any U.S. person or in the United States or any state or jurisdiction in which such an offer, tender offer, solicitation or sale would be unlawful. The securities referred to herein have not been and will not be registered under the United States Securities Act of 1933, as amended (the "Securities Act"), and neither such securities nor any interest or participation therein may not be offered, or sold, pledged or otherwise transferred, directly or indirectly, in the United States or to any U.S. person absent registration or an available exemption from, or a transaction not subject to, registration under the United States Securities Act of 1933.

Forward-Looking Statements

This announcement contains "forward-looking statements" within the meaning of securities laws of applicable jurisdictions. Forward-looking statements can generally be identified by the use of forward-looking words such as "may", "will", "expect", "intend", "plan", "estimate", "anticipate", "believe", "continue", "objectives", "outlook", "guidance" or other similar words, and include statements regarding certain plans, strategies and objectives of management and expected financial performance. These forward-looking statements involve known and unknown risks, uncertainties and other factors, many of which are outside the control of Gippsland Prospecting and any of its officers, employees, agents or associates. Actual results, performance or achievements may vary materially from any projections and forward-looking statements and the assumptions on which those statements are based. Exploration potential is conceptual in nature, there has been insufficient exploration to define a Mineral Resource and it is uncertain if further exploration will result in the determination of a Mineral Resource. Readers are cautioned not to place undue reliance on forward-looking statements and Gippsland Prospecting assumes no obligation to update such information.