Blaze Minerals Limited (ASX: BLZ) ('Blaze' or the 'Company') is pleased to announce multiple high-grade channel samples from all spodumene bearing pegmatites identified at the North Spirit Lithium Project ('Project'), located on Ontario's 'Electric Avenue' in the geologic Superior Province of Canada.

Highlights High grade mineralisation with appreciable widths has now been identified at all three spodumene bearing pegmatite occurrences, Livyatan, Wrightback and Orca Multiple high-grade channel samples have been returned including five channels at Livyatan (ranging from 2.0m to 11.7m in length) were the newly identified spodumene bearing pegmatite was traced over 75 metres in length and remains open along strike and width Results at Livyatan returned multiple high-grade channels grading 1.72% Li2O over 11.7m, 1.57% Li2O over 6.5m, 1.75% Li2O over 5.35m, 1.57% Li2O over 6.5m and 1.42% Li2O over 2.0m Four channels at the Wrightback pegmatite ranging between 2.5m and 8.5m were collected including one sample which returned 2.82% Li2O over 2.95m, including 3.22% Li2O over 0.85m The Company has moved quickly to advance exploration and these positive results have identified multiple drill targets at each of the occurrences Given these favourable initial results, the Company is continuing to advance discussions with the local indigenous communities to facilitate planning for initial drill testing in 2024

Commenting on the Phase 2 results, Simon Coxhell (MD) said, 'The success of the field programs has confirmed the presence of lithium bearing pegmatites over appreciable widths and highlighted the potential of the North Spirit Lithium property. In the space of six months the project has grown from one historic anomalous rock chip sample to a number of prospective outcrops confirmed by these latest channel sample results. Three prospective areas have been identified and will now be advanced for future drill testing

Phase 2 Exploration Program A total of 65 channel samples were collected returning grades of 0.02% to 3.22% Li2O, with an average of 1.35% Li2O. 46 of the 65 channel samples returned assays greater than 1.00% Li2O. Due to extensive overburden cover, the full extent of the mineralized pegmatites remains unknown. The geophysical expression of the spodumene-bearing pegmatites are interpreted to continue well ASX Announcement 7 December 2023 ACN: 074 728 019 T: +61 8 9463 2463 E: info@blazelimited.com.au Level 3, 88 William Street, Perth Western Australia 6000 www.blazelimited.com.au Directors David Prentice Chairman Mathew Walker Corporate Director Simon Coxhell Managing Director Sonu Cheema Company Secretary Issued Capital ASX Code: BLZ 628,558,246 Ordinary Shares 362,500,000 ('BLZOB') Quoted options exercisable at $0.05 on or before 31 May 2024 15,000,000 ('BLZOPT3') Unquoted options exercisable at $0.03 on or before 31 December 2025 Overview Blaze is a mineral exploration company listed on the ASX. The Company has entered into an agreement with Exiro on the North Spirit Lithium Project which is strategically located in Ontario's 'Electric Avenue' in the Red Lake Region of Canada. The North Spirit Lithium Project covers approximately 365 square kms, located thirty kms along strike to the southeast from Frontier Lithium's (TSXV: FL) world class PAK and Spark Lithium Project. beyond their outcrop extent. High-resolution airborne magnetics show this mineralised trend continues to the northwest, along-strike of the defined 1.5 km corridor.

Livyatan

At Livyatan, a total of five channels, ranging from 2.00m to 11.70m in length, were collected from the newly identified spodumene-bearing pegmatite that was traced over 75 metres in Phase 1. The results are highlighted by channel CH23-10, which returned a broad zone of 1.72% Li2O over 11.70m that appears to continue under cover to the north. Other channels along the 75 metre trend returned 1.57% Li2O over 6.50m, 1.75% Li2O over 5.35m, 1.57% Li2O over 6.50m and 1.42% Li2O over 2.00m. These results emphasize the consistent grades over appreciable width throughout the known outcropping pegmatite. Due to overburden cover, the length of the channel cuts does not span the entire width of the pegmatite. Therefore, at this stage this pegmatite remains open along strike and the width is not fully tested.

Wrightback

The Wrightback showing, located 325 metres northwest of the Livyatan showing, returned the best grades of this program with 2.82% Li2O over 2.95m, including 3.22% Li2O over 0.85m. A total of four channel samples were collected, totaling 15.90m. Channel lengths in this area ranged from 2.55m to 5.90m. The contacts of the spodumene bearing pegmatites are largely concealed by overburden and therefore true widths are not fully understood. Given the high-grades and the widespread occurrences of Spodumene, this target continues to demonstrate the potential of the system.

Orca

Channel sampling at the Orca Showing consisted of three channels, ranging from 1.70m to 8.50m in length. The channels were collected from a spodumene-bearing pegmatite outcrop approximately 900 metres north of the Wrightback showing within the Bear Head Deformation Zone. The most significant assay was from CH23-09A which returned 0.96% Li2O over 8.50m including 1.45% Li2O over 4.0m. Notably, tantalum concentrations were elevated relative to the other occurrences which may imply a zonation of compatible elements that can be used to vector towards more lithium-rich portions of the system.

Future Work Program

High grade mineralisation with appreciable widths have been identified at all three occurrences. Based on the positive assay results coupled with the extensive overburden, multiple drill targets have been identified at each of the occurrences. Furthermore, the trend of the mineralization within the Bear Head Deformation Zone is modestly constrained to a corridor interpreted from Lidar and aeromagnetic data. Areas under thick cover within this corridor that meet exploration criteria developed by field data are also considered favorable drill targets. Overall, the land package remains largely underexplored with multiple regional targets remaining to be explored. The most recent program focused along only a 6km portion of the over 22km long Bear Head Deformation Zone. Areas to the northwest and southeast of the newly identified lithium corridor within the Bear Head Deformation Zone warrant exploration. Given these favourable results, the next stage of activities will include applying for a permit to drill with a goal of drilling key targets in the first half of 2024. Continued dialogue to establish partnerships with local Indigenous communities is ongoing.

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 forwardlooking 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 statements.

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

(C) 2023 Electronic News Publishing, source ENP Newswire