Askari Metals Limited announced that it has received the results for the first phase of reconnaissance exploration surface rock samples collected during the due diligence period of the project acquisition of Exclusive Prospecting Licence (EPL) 7345, known as the Uis Lithium-Tantalum-Tin Project (Uis Project) located in Namibia. The Uis Project covers an area of 113.53km2. One hundred and ninety-six (196) rock chip samples were collected from the Uis Project during the due diligence phase of the acquisition of the Uis Project.

The sampling was conducted over a large number of exposed pegmatites and included several old mine workings where the pegmatites were historically mined for either tin or semi-precious stones. The pegmatites are characterised by coloured tourmalines (green and blue in particular) as well as many examples of altered/weathered spodumene and lepidolite crystals. Some weathered cassiterite was also identified.

The sample results validated and supported the field observations by returning several high-grade Lithium, Tin, Tantalum and Rubidium results. The Uis Project is located less than 5km from the township of Uis and less than 2.5km from the operating Uis Tin-Tantalum-Lithium Mine owned and operated by AfriTin Mining plc (LSE. ATM), within the Erongo Region of west-central Namibia.

Swakopmund, the capital city of the Erongo Region and Namibia's fourth largest settlement, is located approximately 165km due south of the Uis Project while the Namibian capital city of Windhoek is located approximately 270km southeast of the Uis Project. The Uis Project boasts more than 80 mapped pegmatites across the project area, with many of the pegmatites having been mined historically for tin and semi-precious stone. An abundance of altered spodumene is visible both within the workings and the mined rock around the workings.

The map below provides an overview of the location of the Uis Project relative to the infrastructure servicing the region and the location of the operating Uis Tin-Tantalum-Lithium Mine owned and operated by AfriTin Mining plc (LSE. ATM). Due Diligence Sampling Campaign: The Company commissioned a geologist and technical team to conduct a reconnaissance sampling campaign as part of the due diligence process for the Uis Project.

One hundred and ninety-six (196) surface rock samples were collected from exposed pegmatites and old workings in pegmatites on the Uis Project. The pegmatites are hosted by mafic schists and metasediments and occur as post-depositional intrusions. Several hand specimens were collected with visible spodumene, lepidolite and cassiterite.

Lithium is a mobile element and is seldom found at the surface in its original state and grade. Generally, it is leached and a more representative lithium content of any pegmatite is typically found below the weathered horizon. Given the leaching effect and mobile nature of lithium, the Company is therefore very excited by the proportion of sample results (24 samples) returned from the lab with lithium values above 1,000 ppm Li (0.22% Li2O).

Discussion of results: The overall outcome of the due diligence sampling campaign is extremely positive, with 52% of the samples indicating fertile LCT (Lithium-Caesium-Tantalum) pegmatites with results above 234 ppm Li, 47 ppm Cs and 20 ppm Ta. The maximum assay results for lithium oxide, tin and tantalum are 2.1% Li2O, 1.3% Tin (Sn) and 658 ppm Tantalum (Ta), respectively. In addition to the LCT pegmatite mineral results, the results also indicate very strong rubidium results with a maximum of 4,214 ppm Rb and an average rubidium grade of 971 ppm Rb.

Lithium Results: As mentioned above, lithium is highly mobile and is leached from the surface oxidised zone relatively quickly, and as a result, lithium values in the near-surface zone are often depleted. The results from the Uis Lithium Project are very encouraging and reached a maximum of 2.1% Li 2O, with 12 samples returning results greater than 0.5% Li2O and 44 samples above 0.1% Li2O. The high percentage of samples with high lithium results in the oxide zone, correlates well with the visual lithium mineralisation identified in the field and bode well as an indicator for the lithium mineralisation potential below the surface on the Uis Lithium Project.

Tin Results: The operating Uis Mine owned and operated by AfriTin Mining plc boasts a resource with average tin grades of 0.134% Sn. Although rock chip sample results should not be directly compared with resource grades, it is encouraging to see that the average tin grades received from the reconnaissance program at the Uis Project are almost 0.1% Sn (940 ppm Sn). The maximum tin grade of 1.3% Sn and the fact that 27 samples returned a grade greater than 0.2% Sn are also very positive indicators to the tin mineralisation potential of the Uis Project owned by Askari Metals.