Battery Minerals Limited (ASX: BAT) ('Battery Minerals' or 'the Company') is pleased to advise that aircore drilling has started at its 100 per cent-owned Stavely-Stawell Project in Victoria.

The drilling campaign will comprise up to 8,000m and test some of the highly prospective targets the Company has identified using a combination of leading-edge satellite imagery, historic drilling results, mapping and soil geochemistry across a number of prospects

Background on Stavely-Stawell Project

Battery Minerals completed the acquisition of the highly-prospective Stavely-Stawell Project (exploration licence EL6871) immediately adjacent to Stavely Minerals' (ASX:SVY) Thursday's Gossan copper-gold project in Victoria in late October 2020. The tenement covers 721sqkm and hosts the historic Moyston gold mine, which produced 75,000oz at 22g/t Au. The boundary of the exploration licence is also just 7km from the rich Stawell gold mine, which has produced 5Moz of gold to date. The Stavely-Stawell Project is considered highly prospective for shear zone-hosted orogenic gold deposits such as Stawell, as well as volcanic-hosted base metals mineralisation (VHMS) and large-scale Cadia Ridgeway-type porphyry copper mineralisation, within the well-defined Stavely volcanic belt

Phase 1 Regional Aircore Drilling Program

The initial aircore drilling campaign targets a 10km length of the Moyston Fault, where sparse historic data indicates both orogenic gold and epithermal base metal mineralisation. The objective is to test the basement stratigraphy where the geophysical datasets are indicating structural complexity of the primary Moyston fault and accompanying secondary structures that may represent potential splay mineralisation. As further land access agreements are advanced, the programme will expand to target copper prospects located in the unexplored Stavely Volcanics

Contact:

David Flanagan

Tel: +61 8 6148 1000

Email: info@batteryminerals.com

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 Nicholas Jolly, who is a Member of The Australasian Institute of Mining and Metallurgy and is currently General Manager Exploration for Battery Minerals Limited. Mr Jolly 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 Jolly 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.

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

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