ActivEX : Operations Update April 2022

Surface Exploration targeting Lithium and Gold commences at the

ASX Code: AIV

Issued Capital

216,202,577 ordinary shares (AIV)

Market Capitalisation

$10.81M (31st March 2022, $0.050)

Directors

Min Yang (Chairman, NED)

Mark Derriman (Managing Director) Geoff Baker (NED)

Dongmei Ye (NED) Andrew Bald (NED)

Louis Chien (Alternate Director to Min Yang)

About ActivEX

ActivEX Limited is a minerals exploration company committed to the acquisition, identification, and delineation of new resource projects through active exploration.

The ActivEX portfolio is focussed on gold copper and critical metal projects, with substantial tenement packages in the north and southeast Queensland.

Suite 2, 3B Macquarie Street Sydney, NSW 2000

[e-mail]

Phone [phone]

ABN 11 113 452 896

Drilling to Commence at Gilberton Gold Project mid-April

Georgetown Project.

Gold Copper and Lithium explorer ActivEX Limited (ASX: AIV) ("ActivEX" or "the Company") advises that surface exploration is commencing at the Georgetown Gold and Lithium Project on the 4th April with Gilberton Gold and Lithium Project Drilling to Commence on the 19th April and with significantly larger areas approved for current and future drilling at Gilberton. In addition, the Company provides the following Operations Update of Exploration Activities for April 2022.

Summary and Highlights

• • Field Based Exploration within the 100% owned Georgetown Gold and Lithium Project commences today, the 4th April. The initial work will involve surficial geochemical exploration - rock and stream sediment sampling targeting possible LCT mineralisation.

• • Field-based exploration including drilling will then commence at the Gilberton Gold Project on or about the 19th April with Native Titel approval having been received.

• • A program of 4,000m of Reverse Circulation (RC) drilling and Diamond Core (DC) drilling of 200m is planned in and around the Historic Mt Hogan open pit/underground mining operation and along the southern margin of the gold mineralised Mt Hogan Granite.

• • Prior to drilling commencing geological mapping and surficial geochemical sampling of the Commissioners will be completed, with drilled testing planned for the next phase of drilling.

• • Several possible LCT pegmatite will be sampled including untested historic tantalum prospects.

Figure 1. ActivEX Limited Queensland Projects and tenements

GEORGETOWN GOLD AND LITHIUM PROJECT - North Queensland

(EPMs 27805, 27811, 27812, 28277 & EPMa 28120 - ActivEX 100%)

The Georgetown Gold Project (Figure 1) 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 is in an area which is prospective for several metals (Au, Ag, Cu, Ta-Nb, Co, Sn, W and Li) and a wide range of deposit styles

The Company completed a broad Mineral Prospectivity Analysis of the Georgetown region and applied for tenements to the south and southwest of Georgetown (Figure 5), three of which have been granted. Through the study of Geological Site Observation Database (Published by Geological Survey of Queensland), the Company identified a historic lithium prospect (Buchanan) to the NW and historic tantalum prospects to the west of EPM 27812 (Figure 1). Geological Survey of Queensland Sub-Project #6, Queensland Government Exploration Initiative Report Completed in 2018 entitled "Metallogenic Study of the Georgetown, Forsayth and Gilberton Regions, North Queensland, Dr G. Morrison, etc, developed a new metallogenic database, GIS and interpretation for the Georgetown region of North Queensland and highlighted a number of "mineral camps" shown blue polygons in Figure 2. The metallogenic camp labelled Glenrowan extends from EPM 27812 north east towards the Buchannan's Lithium/Tantalum Prospect and includes a suite of felsic intrusives and micaceous schists. Initial exploration will focus on both gold and lithium related metals including geological mapping and surficial geochemical sampling to delineate for more intensive grid-based sampling and ultimately drilling. This initial phase of exploration is planned to commence on the 4th April 2022.

Figure 2. Georgetown Gold Project showing location EPM 27812, Lithium/Tantalum prospects and metallogenic camps (After Dr Gregg Morrison & Dr Simon Beams et al 2019 Metallogenic Study of the

Georgetown, Forsayth and Gilberton Regions Nth Qld))

GILBERTON GOLD and LITHIUM PROJECT - North Queensland

(EPMs 18615, 18623, 26232 and 26307 - ActivEX 100%)

Exploration will commence on or about the 19th April with a planned program comprising 4,000m of RC drilling and 200m of DC drilling on the southern margin (Figure 3) of the Mt Hogan Granite (EPM 18615) within a distinctly broad and extensive zone of sericite/chlorite/epidote alteration. The area of proposed drilling was the focus of gold mining by Eltin Minerals in the mid-1990's. A Cultural Heritage review has been completed by the Ewamian People and approval has been given for the drilling program to commence with a far larger areas cleared for current and future drilling programs including in and around the historic Josephine Open Pit and Commissioners Hill Prospect(Figure 4). The drilling will be carried out by Charters Towers based company Eagle Drilling who were the drilling contractors for the last round of RC drilling in 2021.

A detailed study of the metallogenic of the region between Georgetown and Gilberton was completed by Morrison et al in 2019 that highlighted seven metallogenic camps within the Gilberton Gold Project. The focus of the drilling in June will be the Mt Hogan Mesozonal metallogenic camp and the site of the most significant gold production within the project. The Companies exploration goal is to actively explore all the metallogenic camps based on the overall prospectivity analysis completed to date.

The underexplored southern margin of the Mt Hogan Granite will be AIV's initial 2022 focus will be to explore the down dip and along strike potential between Mt Hogan and the Charlies South Prospect in addition to extending that exploration search to the east and west along the southern margin of the Mt Hogan Granite. In addition, deeper drilling to 150m will explore for further flat lying mineralised lodes in the vicinity of the historical Mt Hogan open pit. A small program of diamond drilling will be aimed at getting a better understanding of the mineralised lodes.

In addition to the gold focus at Gilberton there are several unexplored historic tantalum occurrences that will be evaluated for LCT (Lithium Caesium Tantalum) potential by selected rock sampling (Figure 5).