Kodal Minerals provided an update on its Bougouni Lithium Project in southern Mali (the "Bougouni" or the "Bougouni Project") and to report wide intersections of gold mineralisation from reverse circulation ("RC") drilling at the Fatou Project ("Fatou") in southern Mali. Bougouni Lithium Project: Kodal technical team completed site visits in January in preparation for development activity. Development work ongoing, including a detailed LIDAR (light detection and ranging) survey to commence in late February for use in final development planning.

Meetings held with local Governor and officials and local Chiefs to update them on Kodal's proposed activities. Fatou Gold Project: Initial RC drilling programme consisted of 11 RC drill holes for 1,242m completed. Final assay results of RC drilling returned multiple zones of gold mineralisation with broad intersections and grade up to 7.09g/t gold.

Intersections include: 23m at 1.63g/t gold from 82m - including 6m at 3.88g/t gold from 94m & 11m at 1.37g/t gold from 111m & 4m at 1.93g/t gold from130m to end of hole in drillhole FNRC001. 6m at 1.49g/t gold from 40m ­ including 1m at 4.18g/t gold from 40m & 3m at 1.43g/t gold from 80m in drillhole FNRC007 RC drilling confirms multiple mineralised zones and highlights extensions to the north and south. Additional drilling is required to test the Fatou prospect.

Geological mapping and sampling of artisanal workings is in progress and first pass sampling of the southern extension of the mineralised structure into the Foutiere concession has commenced.