Essential Metals Limited announced Pioneer Dome drilling nearing completion - results to underpin Resource update and Scoping Study. The current Resource extension drilling program is expected to becompleted in the next two weeks, with assays expected by end- October to feed into a Mineral Resource update. Highlights: Cade Deeps drilling: Six holes completed to a down-dip target depth of 120-150m below the Cade Mineral Resource.

While spodumene was observed in three holes, the core logs suggest that the drilling intersected the wall zone of the Cade pegmatite on the lower periphery of the spodumene mineralised zone. Further exploratory drilling is warranted to follow the Cade pegmatite to the south to determine if more spodumene mineralised zones are present. Davy Extensional drilling: Eight holes completed to target depth at the northern and southern strike extents as well as down-dip of the Davy Mineral Resource.

Spodumene-bearing pegmatites of 1-3m in thickness were intersected in all five holes drilled in the northern strike extent of the Davy Mineral Resource. Mining Lease Application: Drafts of the current mineralisation report and supporting documents will soon be submitted to the Geological Survey of Western Australia (GSWA) for review. Once reviewed by the GSWA, the documents will be submitted along with the Mining Lease application.

Updated Mineral Resource Estimate: On-track for delivery in November. Together with metallurgical test work results, this will underpin a Scoping Study targeted for completion by end-December. This in turn is expected to pave the way for a Feasibility Study commencing in early 2023.

Pioneer Dome Lithium Project: The 450km2 Pioneer Dome Project (ESS: 100%) is located in the core of Western Australia's lithium corridor in the Eastern Goldfields, approximately 130km south of Kalgoorlie and 275km north of the Port of Esperance. A Mineral Resource 1 of 11.2Mt @ 1.21% Li2O has been defined at `Dome North' in the northern area of the Project. The southern Yilgarn area is recognised as being well-endowed with spodumene deposits, including the Bald Hill Mine, the Mt Marion Mine and the Buldania Project, all of which are located within 80km of the Pioneer Dome Project.

The world-class Greenbushes Deposit, the Mt Holland Mine and the Mt Cattlin Mine are located further west, south-west and south-south-west, respectively. Resource Drill Programme At Dome North: The current Dome North drilling programme is targeting depth extensions at the Cade and Davy deposits, as well as testing northern and southern strike extensions at Davy. To date, 14 holes totaling 4,883m have been completed to their respective targeted depths, with a further four holes totaling approximately 800m remaining.

The drill holes are a combination of Reverse Circulation (RC) drilling, where the RC drill rig was able to reach the target depth, and RC pre-collars followed by diamond tails (RCD) for the deeper holes. At Cade, six holes were completed to the targeted depth and one hole remains to be completed. Three holes did not reach target depth at Cade due to drilling complications.

At Davy, eight holes were drilled to the targeted depth and three holes remain to be completed. The original drill programme was modified based upon visual observations from the completed holes. Cade Deposit: Six holes totaling 3,420m were drilled to planned target depths, with one RC hole remaining to be drilled below the southern end of the deposit to complete the programme at Cade.

Pegmatite was intersected in each of the six deeper holes at Cade, with visual spodumene observed in three holes (PDRCD704, PDRCD706 and PDRCD708). For the other holes, spodumene was not readily identifiable. Assays will be required to determine lithium content, as fine grained spodumene could be present.

The presence of mica (muscovite) in the holes tends to suggest that they intersected the lower periphery zone to the spodumene mineralisation within the Cade pegmatite. Hole PDRCD703, where a 0.6m intercept of pegmatite was intersected, appears to limit the northern extent of the Cade pegmatite, as a result the focus is now on determining if the mineralisation dips to the south. The remaining three holes planned to test further north were not drilled with an additional hole to the south to be completed.