Alchemy Resources Limited announced identification of spodumene and lepidolite in pegmatites at karonie. Best results included: HYRC006: 67-68m ­ 1m @ 0.12% Li2O; 72-74m ­ 2m @ 0.11% Li2O; 161-164m ­ 3m @ 0.27% Li2O, 53.2ppm Ta2O5 (including 1m @ 0.47% Li2O, 70.3ppm Ta2O5 from 162m); 174-175m ­ 1m @ 0.12% Li2O, 23.7ppm Ta2O5; 178-179m ­ 1m @ 0.18% Li2O, 23.1ppm Ta2O5 HYRC001: 39-40m ­ 1m @ 0.17% Li2O, 37.1ppm Ta2O5 HYRC016: 63-64m ­ 1m @ 0.12% Li2O, 34.7ppm Ta2O5 HYRC034: 111-112m ­ 1m @ 0.1% Li2O, 33.0ppm Ta2O5 HYRC037: 70-71m ­ 1m @ 0.1% Li2O, 37.1ppm Ta2O5 HICKORY RC DRILLING The Hickory RC program consisted of 30 holes for 4,092m of drilling. The drilling tested both outcropping pegmatites identified from recent mapping and the northern extents under thin alluvial cover over a strike length of approx.

1,000m. The drilling intersected Archean volcanic basalts, intrusive pyroxene-phyric dolerites, younger granitic pegmatites and feldspar porphyries which crosscut the older stratigraphy. The dolerites thicken toward the north as they approach a NE striking shear zone.

The pegmatites, which are the target host rock for Lithium-Caesium-Tantalum mineralisation, appear to thicken when they intersect the coarser grained dolerites and are fractionated internally. Spodumene and Lepidolite mineralisation was identified visually in hole HYRC006 and confirmed via chemical assays, ultraviolet response and LIBS (laser ablation) analysis. The spodumene occurs as white coloured fine acicular crystals from 5-10mm length, with Lepidolite noted in drill samples as dark purple crystals.

A significant alluvial channel, approximately 3km in strike, occurs to the north of Hickory towards Pecan. The recent drilling at Hickory showed that the pegmatites continue under cover to the north and Alchemy is investigating the use of geophysics as a rapid way to define targets for drill testing in this area. GRAVITY SURVEYS COMPLETED: A detailed gravity survey was completed in December 2022 aimed at determining the applicability of detailed gravity as a tool for mapping the pegmatites under cover to the north of Hickory.

The survey was focussed on providing evidence of possible extensions to the mineralised pegmatites at Hickory. Data processing is currently underway. NEXT STEPS: Continue detailed mapping in the areas north of Hickory to further enhance the geological model.

Finalise processing of the high-resolution gravity survey to assess the potential to map the pegmatites under cover to the north. Planning for follow-up programs once all results have been received and interpreted. Further assess the application of other geophysics methods, including detailed radiometric surveys or deep ground penetrating radar, to map out potential extensions of the pegmatites under cover to the north.

Planning underway for follow-up reconnaissance mapping and sampling of Lake Rebecca tenure. XRD analysis of drill samples to enhance understanding of the pegmatite mineralogy at Hickory.