Jindalee Resources Limited announced the completion of a preliminary Scoping Study (Study) at the Company's 100% owned McDermitt Lithium Project, currently the lithium resource in the US3. The key outcomes of the Study highlight the potential of the Project to support a viable standalone lithium mining and processing operation and reinforce the significance of McDermitt as a possible long-life source of future supply to the rapidly growing US battery manufacturing industry. The preliminary Scoping Study referred to in this announcement has been undertaken to determine the viability of an open pit mining operation with on-site extraction and purification facilities for the production of lithium carbonate and provide Jindalee confidence and guidance in ongoing development activities. It is a preliminary technical and economic study of the potential viability of the McDermitt Lithium Project. It is based on low level technical and economic assessments that are not sufficient to support the estimation of Ore Reserves or to provide assurance of an economic development case at this stage, or to provide certainty that the conclusions of the preliminary Scoping Study will be realised. Further exploration and evaluation work and appropriate studies are required before Jindalee will be in a position to estimate any Ore Reserves or to provide any assurance of an economic development case. The preliminary Scoping Study is based on the material assumptions outlined below. These include assumptions about the availability of funding. While Jindalee considers all of the material assumptions to be based on reasonable grounds, there is no certainty that they will prove to be correct or that the range of outcomes indicated by the Scoping Study will be achieved. To achieve the range of outcomes indicated in the preliminary Scoping Study, significant funding will likely be required. Investors should note that there is no certainty that Jindalee will be able to raise that amount of funding when needed. It is also likely that such funding may only be available on terms that may be dilutive to or otherwise affect the value of Jindalee's existing shares. The McDermitt Project is located in Malheur County located on the Oregon-Nevada border, approximately 35 km west of the town of McDermitt at the northern end of the McDermitt volcanic caldera. The property is located upon and bordered by federally owned lands administered by the Bureau of Land Management (BLM). The Project comprises unpatented mineral claims owned 100% by HiTech Minerals Inc., Jindalee's wholly owned US subsidiary. There are no private royalties on any of the claims. The McDermitt Project is located within a Miocene aged volcanic caldera that forms a prominent oval- shaped geographic feature approximately 40km north-south by 25km east-west. Tuffaceous sediments were deposited within a lacustrine moat around a resurgent dome in the central part of the caldera. These lacustrine sediments are the host to lithium mineralisation in the caldera, and consist of glass shards, fine pumice, and mineral and rock fragments. Drilling in the northern and southern caldera has encountered as much as 210m thickness of sediments, and up to 186m was encountered in the 2020 drilling within the central part of the McDermitt project area. Hydrothermal systems related to the emplacement of ~16Ma near-surface rhyolitic intrusions along caldera ring structures have resulted in localised zones of alteration and concentrations of Hg, U, Ga and minor Au. Mercury was historically extracted from several localities including the Bretz, Opalite, Cordero, Moonlight and McDermitt mines on the margins of the caldera and the Aurora uranium resource occurs on the northern margin of the caldera. In contrast to the other mineralisation types, lithium is hosted in illite and smectite clays in stratiform lenses within the tuffaceous sediments. To date, Jindalee has completed a total of 29 reverse circulation and diamond drill holes into the McDermitt deposit. Every drill hole has intercepted significant zones (greater than 1000ppm lithium) of flat lying mineralisation. The geotechnical study consisted of a review of drillhole data and geology wireframes. There has been no specific geotechnical data collection program completed at this stage. Diamond core photographs were reviewed to gain an overall appreciation for the rockmass quality. Additionally, the case study of the Thacker Pass project, located 30km to the south of McDermitt, was used to validate the empirical assessment as both projects are in a similar geological setting. The open pit optimisation resulting from the Mineral Resource model and input parameters formed the basis of the mine production schedule. No detailed pit designs were undertaken at this level of study. A series of shells were selected in ascending order to represent a mining cutback sequencing strategy to provide the schedule with the opportunity of targeting the higher-grade material first. Pit optimisations were performed based on an average Life of Mine lithium carbonate price of ~USD 11,000 per tonne, versus the current spot price of lithium carbonate of ~USD 19,3501 per tonne. To date, test work for the McDermitt deposit has focussed primarily on the sulphuric acid leaching of both whole and beneficiated ore. A significant portion of the leach test work completed by Jindalee in 2019 and 2020 is based on a 44kg sample of 2,350ppm Li which was representative of the McDermitt deposit at a 1,750ppm cut-off grade (from the 2019 Mineral Resource update4). Whilst the sulphuric acid leaching yields high recoveries of lithium, it is also accompanied by high levels of base and alkali metals, which increase proportionally as lithium grade decreases. Initial modelling of the leaching flowsheet in SysCAD (a process engineering software program) using the 2021 Mineral Resource grade of around 1,400ppm lithium indicated that the comparatively low lithium tenors of the solution achieved through leaching, coupled with high leach extractions of impurity elements, complicated the flowsheet for this level of assessment even after beneficiation.