ActivEX Limited reported encouraging high grade gold assays from sampling programs undertaken at the Georgetown Project. Assay highlights are referenced. A total of 66 soil, 34 rock (including pegmatites) and 13 stream samples have been received back from the ALS geochemistry laboratory in Townsville.

GEORGETOWN GOLD AND LITHIUM PROJECT - North Queensland: The Georgetown Gold Project is situated within the Proterozoic Etheridge Province in northeast Queensland, approximately 400km west-northwest of Townsville and 80km north of the Gilberton Gold Project. The project comprises a granted area of 504.29km2 with ActivEX Limited holding a 100% interest in all the tenements. One EPM application (Bridle Track, EPM 28417) has been lodged in May, which covers 100 sub-blocks.

Historic data shows pegmatites were intersected in previous drill holes; However, no Au or Li has been assayed. Bridle Track is anticipated to be granted towards the second half of 2022. The Georgetown Project is in an area which is prospective for several metals, precious and base, in addition to critical metals (Cu, Ta, Nb, Co, Sn, W Li and Mn) over a wide range of deposit styles.

Initial evaluation of the Georgetown Project was focused on critical metals and gold potential, as evident by the numerous historical gold and silver workings The Buchanan's Creek lithium/tantalum prospect located to the west of the Forsayth tenement and operated by unlisted explorer Strategic Metals Australia comprises pegmatite hosted lithium and tantalum mineralization. The pegmatites have intruded into a folded sequence comprising Cobbold Metadolerite and Lane Creek micaceous metasediments. A similar sequence of pegmatites intruding into dolerite and micaceous metasediment is evident within the tenements of the Georgetown Project.

Results from surficial geochemical exploration within the Forsayth tenement with significant gold and critical metal results obtained from several areas. In the centre of the area, samples FYR010 to 015 were taken from a small iron/manganese ridge over 40m in length. The outcrop comprised massive ironstone with manganese staining and local boxwork textures likely after sulphides at depth.

Several prospecting pits have been dug along the length of the ironstone ridge to a depth of 1.5m with no obvious drill testing. The ironstone returned results to 5.5g/t Au 41.6% Fe, 10% Mn, 0.9% Pb and 0.53% Cu. This target will be further evaluated via geological mapping, rock sampling and pXRF soil geochemistry.

A series of ferruginous quartz veins in the west of the tenement were sampled (FYR005 to 008 and 017 to 018) with results to 25.6g/t Au12.2% Pb, 306 ppm Ag, 5.5% Mn, 0.35% Cu and 0.23% Zn. Stream sediment sampling with results to 336ppb Au warrant further evaluation. Soil sampling was completed at the Toad Prospect (Leichardt Creek) over folded micaceous metasediments and dolerite with several mapped pegmatites and is similar geological sequence to the Buchanan's Creek lithium/tantalumn prospect located 15km to the west.

Initial results revealed possible indicators of critical metals mineralization, and further exploration will be carried out.