Essential Metals Limited announced that Black Cat Syndicate Limited has met the Initial Commitment expenditure of $150,000 under the Balagundi Gold & Base Metals Project Farm-in & Joint Venture and has elected to continue towards earning a 75% interest by spending a further $450,000 within the next three years. Essential Metals and Black Cat entered into the Farm-in and Joint Venture in July 2019. The Balagundi Project is located 25kms east of Kalgoorlie and sits immediately adjacent to the north-west portion of the Myhree Mining Centre within the Kurnalpi Terrane which is separated from the Myhree Mining Centre by the Victory Fault (a second order regional structure). The project is prospective for both gold and base metal VMS style deposits. LITHIUM: The Pioneer Dome Lithium Project is highly prospective for lithium-caesium-tantalum (LCT) mineral systems and includes the Dome North Lithium Mineral Resource of 11.2 million tonnes @ 1.21% lithium (Li2O). GOLD: The Juglah Dome Project is located 60km east-south-east of Kalgoorlie and is considered to be highly prospective for gold and has potential for VHMS style polymetallic deposits. GOLD: The Golden Ridge Project is located ~20km south-east of Kalgoorlie, WA. activities are focussed on reappraising known prospects as well as identifying new areas within the large land tenure. LITHIUM: The Company holds a 51% Project interest in the Mavis Lake Project, Ontario, Canada where drilling has intersected spodumene. GOLD: The Acra Project is near Kalgoorlie. Northern Star Resources Limited has earned a 75% Project Interest and continues to fully fund exploration programmes until approval of a Mining Proposal by DMIRS is received with Essential Metals holding a 25% interest. GOLD: The Kangan Project is in the West Pilbara and part of a joint venture with Novo Resources Corp. and Sumitomo Corporation (TYO:8053), who will jointly fund 100% of gold exploration programmes until a decision to mine is made, with Essential Metals holding a 30% interest. GOLD: The Balagundi Project is subject to a farmin & JV agreement where Black Cat Syndicate Limited is earning a 75% interest in the Project located at Bulong, near Kalgoorlie. Black Cat will then fully fund gold exploration programmes until a decision to mine is made, with Essential Metals retaining a 25% interest. GOLD: The Company holds a 25% free-carried interest (20% for nickel rights) in the Larkinville Project near Kambalda, WA, with Maximus Resources Ltd. NICKEL: The nickel mineral rights on the Blair-Golden Ridge Project, which includes the suspended Blair Nickel Sulphide Mine, are subject to a Farmin/Joint Venture with Crest Investment Group, a nickel exploration specialist which is earning up to a 75% interest. The Company will retain a 25% free-carried interest up to a decision to mine. NICKEL: The Company holds a 20% free-carried interest (nickel only) in the Wattle Dam project near
Kambalda, WA, with Maximus Resources Ltd. .