Koba Resources Limited has significantly increased its battery metals portfolio via the acquisition of two additional high-quality lithium pegmatite projects in Canada:The JB1 Lithium Project in Quebec; and Davidson Lithium Project in Ontario. Located in the world-class James Bay lithium province, the JB1 Lithium Project is only 12km west of the Rose Lithium Deposit that hosts resources of 34.2Mt at 0.9% Li 2O; and 18km east of the Pontax Lithium Deposit where ASX-listed Cygnus Gold Limited is currently undertaking a resource definition drilling program. The Davidson Lithium Project is adjacent to Koba's Whitlock Lithium Project which lies immediately along strike from the Tanco Lithium-Caesium-Tantalum Pegmatite Mine - Canada's only operating lithium mine.

The acquisition expands the Company's presence in this world-class lithium district. Koba has also entered into an option agreement to acquire a prospective lithium project in the Pilbara region of Western Australia. Koba's JB1 Lithium Project comprises two granted claim blocks, together covering approximately 190km2 within the James Bay region of Quebec.

The JB1 Project has never been explored for lithium despite its proximity to some very large lithium resources, several of which are on the cusp of development. The JB1 Project is highly rospective for lithium bearing pegmatites. It is situated in a similar geological environment and just 12km west of the Rose Lithium Deposit where resources total 34.2Mt @ 0.9% Li2O A positive pre-feasibility study has been completed at Rose, to develop a conventional open pit operation.

In addition, 18km to the east, ASX-listed Cygnus Gold has commenced a resource drill out at the Pontax Lithium Deposit where historic drilling results include an intersection of 9m @ 1.7% Li2O4. The James Bay region is emerging as one of the most significant hard rock lithium belts in the world. In addition to the deposits in the immediate vicinity of the JB1 Lithium Project other significant deposits include: Abitibi Hub comprises two deposits that host the largest spodumene resource in North America; Whabouchi Lithium Deposit - one of the largest high-purity lithium deposits in North America with a proposed mine life of 33 years; James Bay Lithium Deposit 7. A 2021 Feasibility Study outlines an operation with an average annual production of 321Kt per annum of spodumene concentrate averaging 5.6% Li2O, over a 19 year mine life; Moblan Lithium Project where a pre-feasibility study is underway; Corvette Project includes a best intersection of 159.7m @ 1.65% Li2O9 within a 20km trend of lithium pegmatite outcrops.

The operator, Patriot Battery Metals, listed on the ASX recently; and the Adina Project, where initial drilling by ASX-listed Winsome Resources has intersected 160m of pegmatite 10 with assay results pending. Winsome also owns the Cancet Project in the James Bay district, where recent drilling intersected 26m @ 1.6% Li2O11. Only limited exploration has been undertaken previously in the JB1 Project area, none of which targeted lithium.

The Quebec government funded various regional airborne geophysical surveys and mapping programs during the 1970s. Then, in 1999, the potential for kimberlites was documented. This was followed by a period of diamond exploration by De Beers and Dios.

These companies completed additional geophysical surveys and geochemical sampling programs targeting diamonds. During 2007 and 2008 Dios Exploration drilled 12 holes for 1,328m within the current JB1 Project area, in search of diamonds. The drilling targeted airborne geophysical anomalies.

Pegmatites were reported in 10 of the 12 holes drilled, with a total thickness of 12.4m of pegmatite logged in drill hole 555-10. No samples were assayed for lithium. The Davidson Lithium Project is located in western Ontario, Canada.

It comprises 11 granted claims covering 50km2. This Project is located immediately east of Koba's recently acquired Whitlock Lithium Project. Multiple large lithium resources are also present in this district.

The most significant of these is the Tanco Mine, Canada's only operating lithium mine, which has been in commercial operation for more than 50 years. The most recent published reserves (1991) comprise: 7.3Mt @ 2.76% Li2O2; 2.1Mt @ 0.22% Ta2O52; and 0.35Mt @ 23.3% Cs2O2. In addition to being a high-grade lithium mine, Tanco is the world's largest producer of caesium and contains the largest tantalum reserves in Canada.

The western Ontario - Manitoba region is a world class lithium district that not only hosts the Tanco Mine but also hosts multiple other significant lithium projects including: The PAK Project that is comprised of the Pak and Spark Deposits; The Georgia Lake Project where a positive pre-feasibility study was completed in November 2022; The Separation Rapids Lithium Project where a positive preliminary economic assessment has been completed; The Seymour Lake Project being explored by ASX-listed Green Technology Metals, The Donner Lake Lithium Deposit contains an historic resource from four spodumene-bearing pegmatites; and The historic Irgon Lithium Mine where, despite construction of a 74m shaft and 366m of lateral development to access this historical resource, no ore was ever processed.