Element 25 : Reconnaissance Gold Exploration Programme Green Dam Project

ASX ANNOUNCEMENT 29 JANUARY 2019

Reconnaissance Gold Exploration Programme Green Dam Project

• • Air Core Drilling: 49 holes for 1,104m completed to test gold in soil anomaly at the Green Dam Project

• • Airborne Magnetic Survey: An airborne magnetics survey was completed over the entire Green Dam Project as an aide to structural interpretation and targeting

Air Core Drilling Programme

An aircore drilling programme was completed at the Green Dam Project during 2018. The drilling was designed to test a regionally extensive "gold in soil" anomaly in the southern area (Flanker prospect) of the Project (previously reported in December 2017 Quarterly Report).

This anomaly trends in a NW direction and is highlighted by elevated gold values exceeding 5ppb Au (up to a maximum of 35ppb Au) over an area of approximately 3km by 1.5km. This prospect is located 18km to the east of the 1.1M oz Bombora Gold Deposit (Breaker Resources). There are several other gold and nickel anomalies that remain untested within the Green Dam Project tenure.

The initial testing of this southern anomaly was completed using broad spaced air core drilling (600m x 100m). A total of 49 holes for 1,104m covering four drill traverses were completed during the quarter. The best results from this drilling are outlined in Table 1.

Company Snapshot

ASX Code: Shares on Issue: Share Price:

Market Capitalisation:

E25 84M $0.165 $13.9MBoard of Directors: Seamus Cornelius Justin Brown John RibbonsChairman ED

NED

Element 25 Limited is developing the world class Butcherbird manganese project in Western Australia to produce high purity manganese sulphate for lithium ion batteries and electrolytic manganese metal.

Element 25 Limited P [phone]

Level 2, 45 Richardson Street, West Perth, WA, 6005

[e-mail] element25.com.au

PO Box 910 West Perth WA 6872 Australia

Hole_ID	From	To	Interval	Au (ppb)	Comments
GDAC0022	40	48	8	55	EOH = 60m
GDAC0025	16	24	8	244 ppb EOH	Incl 3m @ 581ppb Au
GDAC0041	16	29	13	113 ppb EOH

Table 1:

Significant Results returned from Green Dam aircore drilling. It is unknown whether the holes are true width. Assays were completed by Minanalytical in Perth using Aqua Regia digest and ICP-MS finish.

Figure 1: Green Dam aircore drilling programme collar location plan over surface geology.

Hole ID	Easting (GDA94, Z51)	Northing (GDA94, Z51)	RL	Dip	Azimuth	Total Depth (m)
GDAC0001	477504	6599475	367	-60	270	10
GDAC0002	477606	6599473	368	-60	270	11
GDAC0003	477706	6599473	370	-60	270	7
GDAC0004	477805	6599474	371	-60	270	2
GDAC0005	477906	6599471	373	-60	270	5
GDAC0006	478006	6599466	372	-60	270	6
GDAC0007	478103	6599472	369	-60	270	13
GDAC0008	478204	6599486	366	-60	270	22
GDAC0009	478297	6599487	365	-60	270	22
GDAC0010	476806	6600195	356	-60	270	36
GDAC0011	476904	6600202	357	-60	270	25
GDAC0012	476999	6600193	360	-60	270	19
GDAC0013	477099	6600192	362	-60	270	11
GDAC0014	477199	6600188	363	-60	270	11
GDAC0015	477300	6600198	364	-60	270	5
GDAC0016	477399	6600197	363	-60	270	1
GDAC0017	477498	6600191	362	-60	270	5
GDAC0018	477603	6600195	360	-60	270	6
GDAC0019	477699	6600196	58	-60	270	8
GDAC0020	477801	6600192	358	-60	270	9
GDAC0021	477892	6600193	358	-60	270	29
GDAC0022	476500	6600805	353	-60	270	60
GDAC0023	476602	6600808	354	-60	270	50
GDAC0024	476700	6600802	357	-60	270	9
GDAC0025	476803	6600802	354	-60	270	24
GDAC0026	476899	6600802	351	-60	270	2
GDAC0027	477008	6600804	349	-60	270	18
GDAC0028	477095	6600803	347	-60	270	15
GDAC0029	477201	6600812	346	-60	270	32
GDAC0030	477303	6600790	345	-60	270	30
GDAC0031	477394	6600790	345	-60	270	43
GDAC0032	477500	6600802	344	-60	270	33
GDAC0033	477589	6600797	344	-60	270	45
GDAC0034	476000	6601400	342	-60	270	84
GDAC0035	476103	6601397	344	-60	270	41
GDAC0036	476203	6601408	345	-60	270	23
GDAC0037	476301	6601408	346	-60	270	24
GDAC0038	476400	6601398	348	-60	270	35
GDAC0039	476504	6601404	349	-60	270	23
GDAC0040	476606	6601408	350	-60	270	5
GDAC0041	476704	6601405	348	-60	270	29
GDAC0042	476797	6601396	348	-60	270	14

Element 25 Limited	Level 2, 45 Richardson Street,
P [phone]	West Perth, WA, 6005
[e-mail]	PO Box 910 West Perth WA 6872
element25.com.au	Australia

Hole ID	Easting (GDA94, Z51)	Northing (GDA94, Z51)	RL	Dip	Azimuth	Total Depth (m)
GDAC0043	476905	6601396	346	-60	270	15
GDAC0044	477003	6601385	344	-60	270	8
GDAC0045	477097	6601409	342	-60	270	28
GDAC0046	477205	6601386	340	-60	270	26
GDAC0047	477300	6601415	337	-60	270	28
GDAC0048	477396	6601415	336	-60	270	48
GDAC0049	477499	6601398	335	-60	270	49

Table 2:Green Dam aircore drilling collar locations and details.

Airborne Magnetic Survey

An airborne magnetics survey was completed of the entire Green Dam Project as an aide to structural interpretation and targeting.

The survey was flown at a nominal 100m line spacing and 40m sensor height. The survey collected both magnetic and radiometric data sets with the following instrumentation:

Magnetometer

Geometrics GR823 tail sensor; mounted in a stinger housing.

• Sensor Type:	Caesium vapour
• Resolution:	0.001 nT
• Sensitivity:	0.01 nT
• Sample Rate:	20 Hz (≈3.5 metre sample interval)
• Compensation:	3-axis fluxgate magnetometer

Gamma-Ray Spectrometer

RSI RS-500 gamma-ray spectrometer, incorporating 2x RSX-4 detector packs.

• • Total Crystal Vol.: 32 L (downward-looking)

• • Channels: 1024

• • Sample Rate: 2Hz

• • Multi-peak automatic gain stabilisation

Figure 2: Green Dam TMI Aeromagnetic image.

Element 25 Limited	Level 2, 45 Richardson Street,
P [phone]	West Perth, WA, 6005
[e-mail]	PO Box 910 West Perth WA 6872
element25.com.au	Australia

Justin Brown

Executive Director

Company information, ASX announcements, investor presentations, corporate videos and other investor material on the Company's projects can be viewed at:http://www.element25.com.au.

Competent Persons Statement

The information in this report that relates to Exploration Results, Exploration Targets, Mineral Resources and Mineral Reserves is based on information compiled by Mr Justin Brown who is a member of the Australasian Institute of Mining and Metallurgy. At the time that the Exploration Results, Exploration Targets, Mineral Resources and Mineral Reserves were compiled, Mr Brown was an employee of Element 25 Limited. Mr Brown is a geologist and has sufficient experience which is relevant to the style of mineralisation and type of deposit 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'. Mr Brown consents to the inclusion of this information in the form and context in which it appears in this report

Please note with regard to exploration targets, the potential quantity and grade is conceptual in nature, that there has been insufficient exploration to define a Mineral Resource and that it is uncertain if further exploration will result in the determination of a Mineral Resource.

The information in this report that relates to Mineral Resources is based on information announced to the ASX on 12 October 2017. Element 25 confirms that it is not aware of any new information or data that materially affects the information included in the relevant market announcements, and that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed.

Element 25 Limited	Level 2, 45 Richardson Street,
P [phone]	West Perth, WA, 6005
[e-mail]	PO Box 910 West Perth WA 6872
element25.com.au	Australia