Widgie Nickel Limited announced the commencement of drilling on the recently discovered Faraday Lithium prospect. Faraday was discovered during field reconnaissance with assays from a rock chip sampling program confirming lithium bearing pegmatites outcropping over a 600-metre strike, with surface expressions of up to 25 meters wide. Visible spodumene has been identified at several locations with multiple high-grade Li2O values returned from 14 rock chip samples.

Higher values of note include; S10013 - 2.61% Li2O; S10014 - 3.70% Li2O; S10015 - 2.86% Li2O; S10017 - 3.60% Li2O; S10019 - 2.91% Li2O; S10021 - 3.04% Li2O; and S10025 ­ 2.73% Li2O. With limited historical lithium exploration across the Mt Edwards project, the recent rock chip results highlight the promising potential of the project area. The Mt Edwards project is in the heart of a world class lithium region, known as Western Australia's lithium corridor, which covers a total strike extent of more than 100 kilometres in the Eastern Goldfields region Discussion of Drilling Aims: Historical wide spaced soil sampling by previous explorers identified a strong lithium anomaly located within tenement M15/102.

The soil anomaly had no follow up exploration until the recent rock chip samples collected by Widgie during early September 2022. Drilling planned will aim to achieve two primary objectives: Geometry: From the scissor holes planned as per Section 6515775 an accurate estimation of the prevailing dip orientation of the two mineralised pegmatites will be able to be determined. Drilling scissor holes will cater for the potential for variable dips other than that postulated.

During the drilling phase senior Widgie geological staff will be present to direct drilling. Should drilling at the end of each projected hole remain in pegmatites this can and will be extended under supervision up to the maximum drilling capability of the RC rig, which is 350m. Pending results, and should the hole end in pegmatite, Widgie has an onsite diamond rig capability and thus can readily extend the hole should this be appropriate.

Spodumene distribution: Little is understood of the distribution of Spodumene (and potentially other lithium minerals) within the pegmatite. Drilling chips and resultant sampling/assays will allow Widgie to gain an understanding of how pervasive the lithium is within the pegmatite and the broader felsic unit. Gaining fresh sample will also allow Widgie to carry out XRD mineralogical assessment to fully determine the spread of lithium minerals.

From initial assessment, Spodumene, which has the chemical formulae LiAl(SiO3)2, is the main lithium bearing mineral observed at the Faraday prospect. The presence of other lithium minerals, such as petalite or lepidolite, from visual observation is believed to be subordinate to the more desirable Spodumene mineral. This initial program comprises 6 Reverse Circulation (RC) holes for a planned minimum of 740 m of drilling, and will be completed over approximately a week's duration.

Samples will be expedited to Perth for processing with Widgie hopeful of receiving assays prior to the Christmas break. This will enable follow up planning, so that upon resumption of activities in the New Year, Widgie is able to advance on ground activities associated with Faraday. Geological Interpretation: The Mt Edwards Project lithium tenements cover the northern margin of the Widgiemooltha Dome.

The region is well endowed with lithium occurrences and includes three major resources at Dome North (Essential Metals Limited) to the south, Bald Hill (Lithco) to the east and Mt Marion (Mineral Resources Limited) to the north. The Mt Edwards Project is central to this highly prospective corridor for Lithium which covers a total strike extent of more than 100 kilometres. The Mt Edwards project lithium tenements have had very limited exploration for lithium to date.

At the Faraday prospect, the pegmatite bodies are a result of a very late-stage intrusive event and are interpreted to be located proximal to larger scale granitic intrusion. Coarse grained spodumene has been recorded at several locations, and the outcrop covers a strike extent of approximately 600 metres in a north-south orientation. The pegmatite bodies vary in width from 1 metre up to 25 metres.

It is interpreted that the intrusive body extends further to the north where outcrop is minimal, but soil sampling is indicating Li anomalism. Detailed mapping and additional rock chip sampling have been undertaken to better define the strike and dip of the pegmatite body necessary to aid designing the drilling program. Regional Investigation: Rock chip sampling at other identified pegmatite outcrops across Widgie's tenure is underway.

Desktop research interrogating drill hole logs is ongoing aiming to delineate prospective pegmatites intersected in historic drilling.