Blaze Minerals Limited (ASX: BLZ) ('Blaze' or the 'Company') is pleased to advise that the Phase 2 exploration program at the North Spirit Lithium Project ('Project') located in Ontario's 'Electric Avenue' in the Great Lakes Region of Canada, has expanded and extended the lithium-bearing pegmatites sampled during the Phase 1 prospecting program.

The work was completed by our Canadian partner Exiro Minerals Corp ('Exiro') and three areas were channel sampled to a total of 57.65 meters.

Highlights

The program was designed to follow up on high grade samples from the Phase 1 field work, which identified three zones of spodumene-bearing pegmatites along a 2km trend within the Bear Head Deformation Zone (BHDZ) yielding results grading between 0.18% and 4.04% Li2O from grab samples. A total of twelve channel samples, ranging in length from 1.70m to 11.70m, totaling 57.65m, were collected from the three occurrences, which extended and expanded the lithium- bearing pegmatites identified by Blaze and the Exiro team during the Phase 1 program. During Phase 2, the field team visually confirmed the spodumene in the pegmatites and hand stripping of thin cover around each showing revealed additional spodumene-bearing pegmatites not identified in Phase 1. An additional seven grab samples were collected from regional prospecting and all the assay results of the Phase 2 channel and grab samples are pending. in Simon Coxhell (MD) comments, 'The successful extension and expansion of the lithium-bearing pegmatite outcrops at the North Spirit Lithium Project is exciting and has advanced our understanding of the pegmatite system. We look forward to receiving the analytical results in the coming weeks.'

Field Program

Summary High-grade grab samples followed up by the phase 2 exploration program included 4.04% Li2O, 1.91% Li2O, 1.70% Li2O, 1.51% Li2O and 1.18% Li2O, which extended over a two-kilometre corridor that coincides with the Bear Head Deformation Zone (BHDZ). This structure is a major control on Frontier Lithium's (TSXV: FL) world class PAK and Spark Deposits located approximately thirty kilometres along strike to the north-west. Overall, the field programs identified new lithium-bearing pegmatites, confirmed historical lithium occurrences, and subsequently expanded the new occurrences in Phase 2. Regionally, the fertile pegmatites appear to be spatially related to localized magnetic lows associated with mafic volcanics that are proximal to the granite batholith contact within the BHDZ.

Livyatan Pegmatite Occurrence

The Livyatan showing returned the best grade of 4.04% Li2O from grab sampling during the initial field visit. In Phase 2, the Exiro field team was able to hand strip areas of thin cover exposing a large spodumene bearing pegmatite that demonstrates widths ranging from 6.50m to at least 15.00m, and a strike length greater than 75m. The strike remains open, and the full width is not well constrained due to overburden. A total of 5 channel samples, ranging from 2.00m to 11.70m in length, were cut perpendicular to the strike of the pegmatite for a total of 28.55m. Spodumene was observed throughout all channels including the longest channel of 11.70m which ended in pegmatite due to thickening overburden to the north.

Wrightback Pegmatite Occurrence

The Wrightback showing, characterized by assays that returned 0.77% to 1.70% Li2O from grab samples, consists of a series of spodumene bearing pegmatites that range from 2.00m to 6.00m in width (fig 4). In some places, geologic contacts are concealed by overburden and therefore true widths are not fully understood. Based on contact relationships, the pegmatites appear to be geologically and structural complex which suggests emplacement prior to the latest stage of deformation along the BHDZ. A total of four channel samples were collected totaling 15.90m, ranging from 2.55m to 5.90m in length. Some channels were collected in areas where the contacts are under cover and therefore are not representative of the entire width of the pegmatite. Spodumene was observed in all channels cut across the pegmatites.

Contact:

Simon Coxhell

Blaze Minerals Limited

Forward looking statements

This announcement contains forward-looking statements which are identified by words such as 'may', 'could', 'believes', 'estimates', 'targets', 'expects', or 'intends' and other similar words that involve risks and uncertainties. These statements are based on an assessment of present economic and operating conditions, and on a number of assumptions regarding future events and actions that, as at the date of this announcement, are expected to take place. Such forward-looking statements does not guarantee future performance and involve known and unknown risks, uncertainties, assumptions and other important factors, many of which are beyond the control of the Company, the directors and our management. We cannot and do not give any assurance that the results, performance, or achievements expressed or implied by the forward-looking statements contained in this announcement will actually occur and investors are cautioned not to place undue reliance on these forward looking statements. We have no intention to update or revise forward-looking statements, or to publish prospective financial information in the future, regardless of whether new information, future events or any other factors affect the information contained in this announcement, except where required by law. These forward-looking statements are subject to various risk factors that could cause our actual results to differ materially from the results expressed or anticipated in these statemen

Competent Person Statement

Exploration or technical information in this release has been prepared by Mr. Simon Coxhell, the Managing Director of Blaze Minerals Limited and a Member of the Australian Institute of Mining and Metallurgy. Mr. Coxhell has sufficient experience which is relevant to the style of mineralisation under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the 'Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves' (the JORC Code). Mr. Coxhell consents to the report being issued in the form and context in which it appears.

Contact:

Tel: 61 8 9463 2463

Email: info@blazelimited.com.au

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