Pioneer Resources : High Grade Lithium Results up to 3.70% Li₂O From Spodumene Samples at Pioneer Dome

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	Address: Ground floor, 72 Kings Park Road
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	Perth Western Australia 6872

HIGH GRADE LITHIUM RESULTS UP TO 3.70% Li2O FROM

SPODUMENE SAMPLES AT PIONEER DOME

Perth, Western Australia: 17 July 2019: Pioneer Resources Limited (the "Company" or "Pioneer")

(ASX: PIO) is pleased to provide a geological update for the 100%-held Pioneer Dome Project near Norseman in Western Australia.

On 25 June 2019 the Company provided details of the discovery of a spodumene-bearing pegmatite system at the Dome North area, located at the northern end of the Company's Pioneer Dome Project.

MAPPING CONFIRMS HIGH GRADE LITHIUM PEGMATITES

Assays of rock chips taken during geological mapping have provided evidence of high grade spodumene mineralisation within two pegmatite exposures that together exceed 500m in strike length.

Drilling is scheduled to commence in August 2019, with up to 5,000m planned to follow up:

• Target 1 (currently 200m long): 7 rock chips returned between 1.40% and 1.99% Li2O;
• Target 2 (currently 300m long): 17 rock chips returned between 1.65% and 3.70% Li2O
• 2 Emerging Targets: rock chips returned 1.53 and 2.63% Li2O

The Pioneer Dome sits along an increasingly important 'lithium corridor' which includes three lithium mines that extract and concentrate spodumene: Mt Marion (Gangfeng, Mineral Resources), Bald Hill (Alliance Minerals) and Mt Cattlin (Galaxy Resources); as well as the emerging Buldania deposit (Liontown Resources).

Figure 1: (Left) Pioneer geologist at the discovery outcrop of Spodumene Target 2. (Right) elongate grey spodumene crystals in a Dome North pegmatite sample.

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Figure 2: The Dome North Prospect is located approximately 110km south of Kalgoorlie, WA.

Figure 3: Spodumene Target 2 at Dome North: showing locations where high grade lithium samples were taken. Mineralised pegmatite is exposed over at least 300m of strike length.

Figure 4: Dome North prospect area showing SpodumeneTargets (1 and 2), and rock chip sample points with spodumene (green) and holmquistite (blue). Image is processed aeromagnetic data.

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										Table 1
					Significant Rock Chip Locations and Assays
		Sample ID	East		North					RAMAN			Cs			Li2O		Rb		Ta				K
		Spodumene Target 1						Key Mineral			ppm			%		ppm		ppm				ppm
		ARC116357	365,506		6,486,529					Not analysed	343			1.40		3658		131			24,399
		ARC116358	365,495		6,486,510					Not analysed	94			1.73	2072		55			28,958
		ARC116362	365,519		6,486,540					Spodumene	129			1.21	1138		85			10,936
		ARC116364	365,560		6,486,569					Spodumene	215			0.57		3669		100			25,719
		ARC116365	365,578		6,486,608					Spodumene	118			1.90	1362		110			9,784
		ARC116366	365,588		6,486,625					Holmquistite	4			1.60	18		238			374
		ARC116367	365,587		6,486,601					Spodumene	34			1.99	309		96			3,850
		ARC119587	365,491		6,486,510					Spodumene	69			1.71	543		106			9,184
		Spodumene Target 2
		ARC116389	367,676		6,485,816					Spodumene	62			1.98	836		42			19,124
		ARC116390	367,676		6,485,824					Spodumene	56			2.59	577		32			12,206
		ARC116391	367,676		6,485,842					Spodumene	27			2.61	310		31			6,474
		ARC116392	367,681		6,485,873					Spodumene	32			2.82	226		56			5,647
		ARC116393	367,680		6,485,857					Spodumene	39			2.28	294		46			5,054
		ARC116394	367,657		6,485,867					Spodumene	45			2.00	464		37			10,834
		ARC116395	367,679		6,485,925					Spodumene	80			1.65	857		32			17,306
		ARC116396	367,695		6,485,950					Spodumene	71			2.07	588		19			12,608
		ARC116397	367,728		6,486,013					Spodumene	37			3.61	260		62			4,159
		ARC116398	367,729		6,486,000					Spodumene	70			2.44	390		54			6,876
		ARC116399	367,730		6,486,059					Spodumene	37			2.84	434		42			7,340
		ARC116402	367,718		6,486,096					Spodumene	26			2.80	186		67			3,063
		ARC116403	367,680		6,486,046					Spodumene	42			2.74	299		42			4,188
		ARC116404	367,665		6,486,024					Spodumene	25			2.93	257		56			4,674
		ARC116410	367,715		6,485,993					Spodumene	28			3.70	292		45			5,837
		ARC116411	367,730		6,486,037					Spodumene	53			2.10	455		37			7,586
		ARC116412	367,688		6,486,078					Spodumene	23			2.65	233		59			3,723
		Spodumene Samle 200m West of Spodumene Target 2
		ARC116406	367,418		6,486,040					Quartz/Petalite	38			2.62	328		49			5,732
		Holmquistite Sample 1.5km West of Spodumene Target 2
		ARC116384	366,195		6,485,987					Holmquistite	27			1.53	132		43			4,749

Chemical assay results provided by Intertek Genalysis. RAMAN Analysis by Geochemical Services Pty Ltd. Coordinates in grid MGA94-51 determined by hand-held GPS. See additional notes in Appendix 1

DRILLING APPROVAL IN PLACE

With mapping advancing and the completion of other preparatory work including environmental and aboriginal heritage surveys, drilling is scheduled to commence in August 2019.

Pioneer used a portable RAMAN spectrometer to identify the presence of spodumene (and other key minerals). This is the first application of a technology that the Company is developing as a mineral exploration tool through internal research and development in conjunction with Geochemical Services Pty Ltd (Dr Nigel Brand - Principal). The RAMAN spectrometer directly identified the presence of the mineral spodumene in rock chip samples before they were submitted to the laboratory for analysis, thus greatly accelerating the cycle time between when a sample is taken and when a result (minerology) is determined.

All elemental assay analysis of the rock chips is undertaken by Intertek Genalysis.

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SINCLAIR MINE EXTENSIONAL DRILLING

A drilling programme that commenced in May (ASX release 27 May 2019) has been completed. While assays are still pending, lithium mineralisation (lepidolite and petalite) was intersected along strike, running approximately 150 metres to the north of the northern pit wall and 80 metres to the south of the southern pit wall.

A further update will be provided once the assay results are received and analysed.

POLLUCITE OFFTAKE

Pollucite sales to 30 June 2019 totalled A$10.5 million (US$7.5 million) with A$3.8 million received in cash and A$6.7 million (US$4.8 million) applied to fully repay the loan from Cabot Specialty Fluids Limited (now named Sinomine Specialty Fluids Limited - refer below). Royalties payable to the Western Australian government totalled A$0.8 million.

Sinomine Resource Group Co. Ltd. ("Sinomine"), took formal control of Cabot Specialty Fluids Limited on 28 June 2019, renaming it Sinomine Specialty Fluids Limited ("SinomineSF"). US$700,000 from a pollucite sale made this month was remitted by Sinomine overnight.

Currently SinomineSF have US$4.9 million worth of pollucite stored at the Sinclair Mine, co-mingled with Pioneer's inventory. Both parties have commenced planning for August's shipment, which will be a larger quantity than previously shipped due to its destination being Sinomine's facilities in China and not the access-restricted Tanco mine in Canada.

ABOUT THE PIONEER DOME AND SINCLAIR MINE

The Company's namesake Pioneer Dome Project is proving to have great importance.

The Project includes the Sinclair Pegmatite, host to one of only three known pollucite deposits globally of a size to be commercially extracted, and now pegmatites at Dome North are known to contain the key lithium mineral, spodumene. The Company plans to advance the Pioneer Dome Project using proceeds received from the sale of Pollucite under the existing agreement with SinomineSF.

OUTLOOK

• Shipments of pollucite to continue in accordance with the revised schedule;
• Results of drilling at the Sinclair Mine Pegmatite will be advised when received;
• Exploration crews continue the detailed appraisal of the (Pioneer) Dome North prospect located 18 km north of the Sinclair Mine, where spodumene pegmatites reported herein have been identified in outcrop; and
• Offtake discussions continue with potential customers for other saleable minerals from Sinclair - including potassium feldspar, quartz and lithium minerals (petalite and lepidolite) which were stockpiled during mining and which would be extracted from a Sinclair Stage 2 Pit.

Yours faithfully

Managing Director

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ABOUT PIONEER RESOURCES LIMITED

Pioneer has completed its mining operation and has returned to being a well funded, active explorer focused on key global demand-driven commodities. The Company operates a portfolio of strategically located lithium, caesium, potassium ("alkali metals"), nickel, cobalt and gold projects in mining regions in Western Australia, plus a high-quality lithium asset in Canada. Drilling is in progress, or has been recently completed, at the Projects located in Australia.

Pioneer Dome Project: The Company's flagship Project. In late 2016 Pioneer reported the discovery of Australia's first caesium (in the mineral 'pollucite') deposit, which was brought into production within 2 years. Pollucite is currently being delivered to Cabot Specialty Fluids' Tanco Mine facility where it is converted into Caesium Formate brine, used in high temperature/high pressure oil and gas drilling.

In June 2019, the Company reported that spodumene, a major lithium ore, has been discovered at the Dome North Prospect. Drilling is scheduled for August this year.

Nickel: Blair Dome/Golden Ridge Project: The price for nickel is steadily improving. The Company owns the closed Blair Nickel Sulphide Mine located between Kalgoorlie and Kambalda, WA, where near-mine target generation is continuing. The Company announced a significant new disseminated nickel sulphide drilling intersection at the Leo's Dam Prospect in 2018, highlighting the prospectivity of the greater project area. A programme of RAB drilling has been undertaken, with assay results pending.

Cobalt: Golden Ridge Project, WA: Cobalt demand is expanding in response to its requirement in the manufacture of cobalt-based lithium batteries in certain electric vehicles and electricity stabilisation systems (power walls). Other uses include in super-alloys, including jet engine turbine blades, and for corrosion resistant metal applications.

Lithium: Mavis Lake Project, Canada & Pioneer Dome Project, WA: Lithium has been classed as a 'critical metal' meaning it has a number of important uses across various parts of the modern, globalised economy including communication, electronic, digital, mobile and battery technologies; and transportation, particularly aerospace and automotive emissions reduction. Critical metals seem likely to play an important role in the nascent green economy, particularly solar and wind power; electric vehicle and rechargeable batteries; and energy-efficientlighting.

Gold: Acra JV Project, Kangan JV Project. The Company has attracted well credentialled earn-in joint venture

partners: Northern Star Resources limited for the Acra Gold Project near Kalgoorlie W.A., and Novo Resources Corp and Sumitomo corporation for the Kangan Gold Project in the West Pilbara W.A. The incoming parties will fully fund gold exploration programmes until a decision to mine is made, with Pioneer retaining a significant free-carried position.

For further information please contact:
David Crook	James Moses
Managing Director	Media and Investor Relations
Pioneer Resources	Mandate Corporate
T: [phone]	M: [phone]
E: [e-mail]	E: [e-mail]

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