Lindian Resources Limited advised of the receipt of assay results from KGKDD009, the second of two holes in the Phase 2 depth extension exploration drilling program, and drill hole KGKRCDD083, at the Kangankunde Rare Earths Project, Malawi. These Phase 2 deep drill holes demonstrate mineralisation extends below the envelope of the maiden Minerals Resource Estimate of 261 million tonnes at 2.19% TREO. Both holes reported in this release were planned to test the depth extensions of the mineralisation.

KGKDD009 was successfully completed to its design dept of 1,000 metres. Both holes reported in this release were planned to test the depth extensions of the mineralisation. KGKDD009 was successfully completed to its design dept of 1,000 metres.

KGKRCDD083 was stopped at 325 metres due to excessive hole deviation. This hole was mineralised from surface and has provided valuable information on the undrilled western boundary of the carbonatite. Hole KGKDD009 is a core hole drilled from surface on the northern end of the Kangankunde rare earth deposit central carbonatite.

The hole was drilled on an azimuth of 182 at a dip of -65 degrees and designed to test the northern mineralisation of the deposit to a vertical depth of over 1,000 metres below the hilltop surface and 700 metres below the current mineral resource estimate depth limit. The hole was collared toward the base of the Kangankunde hill. The hole intersected mineralised breccia from surface with the initial 64.82 metre intersection consisting of mixed gneiss and carbonatite breccia averaging 2.04% TREO.

This interval was followed by 129.92 metres of wall rock gneiss breccia with intermittent narrow high-grade zones of carbonatite, as veins, or carbonatite clasts within the breccia and averages 1.06% TREO. From 194.74 metres down hole the rock type becomes dominantly carbonatite, initially as a mixed breccia with increasing carbonatite content and rare earth content with depth. This rock type is the main carbonatite core of the deposit and is highly mineralised, averaging 2.89% over 805.26 metre intersection to the end of hole (EOH).

The grade increases in tenor and consistency with depth with the lower 288.08 metres from 711.92 metres to 1,000 metres (EOH) averaging 3.50% TREO. KGKRCDD083 was planned to be drilled from west to east on an azimuth of 090 and dip of -50 degrees. The hole was terminated at 325 metres depth due to excessive hole deviation 3).

This drilling included a 150 metre RC pre-collar that intersected a mineralised carbonatite wall rock breccia (mixed breccia) from surface (the pre-collar has been previously reported as 150 metres @ 2.41% TREO, refer ASX release dated 31 July 2023). This high-grade mineralisation has led to the western boundary of the mineralisation being extended 100 metres to the west of previous interpretation and was included in the current MRE. The core tail drilled from 150 to 325 metres (EOH) is mineralised in a mixed breccia and carbonatite rock types as bands including 132.51 metres at 2.84% TREO from 192.49 metres to EOH.

A phase 3 drill program has commenced and is designed as an infill program to define a portion of the current Inferred Resource as Indicated resources for mine development feasibility studies.