Krakatoa Resources Limited announced to release the results of the reconnaissance stream sediment geochemical sampling survey undertaken on tenement E09/2357 (330km2) as part of the systematic and extensive tenement wide exploration program initiated in April over its highly prospective Mt Clere Project, located in the north-western margins of the Yilgarn Craton, Gascoyne Region of Western Australia. The Company now commands 2,310km of highly prospective geology at the Mt Clere Project with 1,080km currently under granted licenses and being systematically explored. Approximately 1,230km is under application. Mt Clere hosts significant Rare Earth Element (REE) geochemical anomalies originally delineated by several previous explorers. They reported significant REE findings (located in KTA's exploration licenses E52/3730 and E52/3731) including widespread monazite sands concentrated within drainage networks as well as ion adsorption clay REE targets in "extensive laterite areas". Significantly, the project covers regions of structural complexity within the Narryer Terrane in the Yilgarn Craton said to represent reworked remnants of greenstone sequences that are prospective for intrusion-hosted Ni-Cu-(Co)-(PGE's). The Company commenced low impact exploration and reconnaissance mapping over the current granted exploration licenses in late April 2021. The program included the collection of 266 stream sediment geochemical samples and over 40 rock and regolith samples taken. The exploration program was split into two phases with the initial phase undertaken on exploration license E09/2537, and the second phase over exploration licenses E52/3730 and E52/3731. The results presented in the report are for the initial phase over E09/2537 where 75 stream sediment geochemical samples have been taken. Krakatoa is currently awaiting the laboratory results from stream sediment programs over E52/3730 and E52/3731 and rock samples including a small number of samples from the southeast E09/2357. Stream samples were collected from trap sites located in second-order and third-order intermittent water courses. The samples were sieved to <1mm in the field. Where samples were too wet to sieve in the field, bulk samples (greater than 5kg) were collected then allowed to air dry before being and sieved back in Perth. Samples were transported to ALS Perth to undergo 60 element analyses using four acid digestion method ME-MS61L and MS-61L-REE. Three large priority area of interest (AOI) have been identified as having highly anomalous stream sample analysis contained within a certain catchment position. There are numerous discrete sample locations with anomalous geochemical assays on third-order tributaries which are not yet assigned to an AOI due to their position in the catchment. The Bullbadger area is located within the southeast portion of the tenement. The catchments flow to the southwest into the Coondle creek, south into the Minajibby creek and southeast into the Mukalo creek. Dimensions: approximately 4 x 4.5km. Some selective sample outliners do exist outside this AOI with several assays still pending downstream of the anomaly. Topography: The area is characterised by low rises of discrete granitic gneiss highs with course lag of weathered bedrock gently transitioning upland colluvial plains interrupted by areas of outcrop. Results of interest: Significant Ni, Co, Cu with anomalous Cr, Nb on southern east catchment with southern catchment high in TREO, Cr, Ni, Pb, W, Nb and Zn. Several third-order (upper catchment) samples are still pending assay results. Secondary AOI There are several secondary areas of interest which are positioned upstream of discrete stream sediment geochemical anomalous points identified within the exploration license. Two are on the boundaries of the exploration tenement and both have recorded significant levels of TREO and Ni-PGE pathfinders at the sample location. The sources of the anomalisms may lie within the upper catchments (above the point of the sample) whose area is currently outside the Company's granted license, although contained in the Company's pending applications. Further investigation will be undertaken over these areas once the exploration license is granted, and access rights are completed. Additional isolated anomalous sample points have been identified within the assay results. These points and their associated catchment will be explored further during the next field campaign.