EV Resources : Extensive Tin-Greisen Mineralisation at Khartoum Project

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ASX ANNOUNCEMENT

22nd March 2022

Extensive tin-greisen mineralisation at

Khartoum Tin-Tungsten Project

Highlights:

• Numerous tin (Sn) targets identified at Khartoum Project.
• Previous channel outcrop sampling outlined widespread Sn-greisen mineralisation.
• Results of recent rock chip sampling demonstrates greisen-Sn mineralisation is more widespread than previously identified.
• Initial 3000m drilling programme to commence in May.

EV Resources Limited (ASX:EVR) ("EVR", the "Company") has identified numerous greisen- style tin targets in the Boulder area of the Khartoum Project, located approximately 100km South West of Cairns. An initial 3000m RC drilling campaign has been planned to follow up previous drill results and to investigate a number of high-grade mineralised greisen outcrops that have not previously been drill tested. Heavy wet season rainfall in the Khartoum area has prevented field access, therefore drilling will be undertaken in May when clearing for rig access can be completed.

Recent sampling by EVR has demonstrated that surface mineralisation associated with greisen-Sn mineralisation is more widespread than previously identified. EVR targeted areas of less intense greisen alteration not previously sampled to determine the potential lateral extent of tin mineralisation, particularly between and along strike from areas that had previously returned significant results. EVR results include 0.91% Sn and 0.55% Sn 250m to the south of the Adelaide workings (BARC07-06 on Figure 2), 0.10% Sn, 0.18% Sn and 0.13% between BARC07-02 and BARD07-05 and 0.12% Sn 700m north from BARC07-01 in an area not previously mapped as greisen altered (Figure 1 and Figure 3).

Previous outcrop channel sampling and mapping identified 35 greisen outcrops in the Boulder area that returned greater than 0.1% Sn at surface. Of these, 19 have a mapped surface area of over 1000m2, indicating economic tonnage potential (Figure 2). The higher-grade greisen outcrops are interpreted to represent discrete pipes and many are associated with historic workings. Estimated production grade for the workings is greater than 1% Sn as, at the time of mining, lower-grade greisen mineralisation was not economic to extract and process.

The results of EVR sampling demonstrate the potential for Sn-mineralised extensive linear greisen zones that are periodically punctuated by the higher-grade pipes. Mapping has demonstrated that at least six parallel individual greisen zones are present that have a strike

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extent of up to 2 to 3km, hence significantly increasing the potential volume of the mineralisation targets.

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Figure 1. Previous rock chip, outcrop channel sampling and drilling results with elevated sample results collected by EVR highlighted in green.

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The Company has planned a 3000m drilling campaign for the Boulder area to expand the mineralisation footprint defined by previous drilling by stepping out along strike and below previous drilling and to test at least 12 further higher-priority greisen targets (those of >0.1% Sn and > 1000m2 extent) that have not received previous drill testing (Figure 2). Drilling is expected to be of approximately 4 week's duration and commence early May. The results of previous drilling and channel sampling were reported in ASX Release of 26th October 2021.

Figure 2. Mapped greisen outcrop, greisen-geochemistry targets and planned drilling.

evresources.com.au

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ENDS

For further information, please contact:

Luke Martino	Adrian Paul
Non-Executive Chairman	Executive Director
Tel: [phone]	Tel: [phone]
E: [e-mail]	E: [e-mail]

This ASX announcement was authorised for release by the Board of EV Resources Limited.

Forward Looking Statement

Forward Looking Statements regarding EVR´s plans with respect to its mineral properties and programs are forward-looking statements. There can be nо assurance that EVR's plans for development of its mineral properties will proceed as currently expected. Therе can also be no assurance that EVR will be able to confirm the presence of additional mineral resources, that any mineralisation will prove to be economic or that a mine will successfully be developed on any of EVR's mineral properties. The performance of EVR may be influenced by a number of factors which are outside the control of the Company and its Directors, staff, and contractors. These statements include, but are not limited to statements regarding future production, resources or reserves and exploration results. All of such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of the company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include, but are not limited to: (i) those relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits and conclusions of economic evaluations, (ii) risks relating to possible variations in reserves, grade, planned mining dilution and ore loss, or recovery rates and changes in project parameters as plans continue to be refined, (iii) the potential for delays in exploration or development activities or the completion of feasibility studies, (iv) risks related to commodity price and foreign exchange rate fluctuations, (v) risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals or in the completion of development or construction activities, and

1. other risks and uncertainties related to the company's prospects, properties and business strategy. Our audience is cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof, and we do not undertake any obligation to revise and disseminate forward- looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.

Competent Person's Statement

The information in this announcement that relates to the Khartoum Project, is based on information compiled by Mr Erik Norum who is a Member of the Australian Institute of Geoscientists. Mr Norum is contracted to EVR. Mr Norum 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 Norum consents to the inclusion in this announcement of the matters based on information in the form and context in which it appears.

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Compliance Statement

This announcement contains information relating to the Khartoum Project extracted from ASX market announcements dated 9 February 2021, 30 March 2021 and 26 October 2021 and reported in accordance with the 2012 edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves" ("2012 JORC Code"). The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements.

evresources.com.au

311-313 Hay St Subiaco, Western Australia 6008

[phone] [e-mail]