Cosmos Exploration Limited advised that it has reached conditional agreement to acquire the prospective Corvette Far East Lithium Project ("the Project"), located in the prolific James Bay district in Quebec, Canada. The Project represents a significant addition to its existing exploration portfolio, which includes the drill- ready Byro East Nickel-Copper-PGE Project in WA and the Orange East Gold Project in the Lachlan Fold Belt in NSW. The Corvette Far East Project is located directly along trend from the recent lithium discoveries made by Patriot Battery Metals Inc. at its Corvette Project.

The Project is located just 20km east of the Corvette Project within the same greenstone belt, where historic large-scale mapped pegmatites remain unexplored, and is prospective for lithium over 15km of strike. Geologically, the greenstone within the Corvette Far East Project is interpreted to be a `dismembered' section of the exact same greenstone belt that hosts Patriot Battery Metals' CV5 discovery where recent outstanding drill intercepts of up to 159m at 1.6% Li2O have been announced. Both greenstone belts occur at the contact between the intrusive tonalite to the south and granodiorite to the north, both of which may be the source granites for the unusually large lithium-caesium- tantalum (LCT) pegmatites in the area.

This geological interpretation strongly supports the prospectivity of the Project for further lithium discoveries. Cosmos intends to initiate exploration activities at Corvette Far East in the New Year, with a view to establishing drill targets for a maiden drill program commencing in the Spring. The Corvette Far East Project is being acquired from Mr. Leo Horn, Mr. Ariel King and Mr. Trent Potts on the following terms:+ $300,000 cash+ 4,500,000 fully paid Cosmos shares+ 1,000,000 Performance Rights convertible into shares on a one-for-one basis upon a drilling or channel interval of at least 5m of at least 1% Li2O being achieved, as verified by an independent Competent Person under the JORC Code 2012 at the Corvette Project.

+ Completion of the acquisition is subject to the satisfaction of standard condition precedents.