Lunnon Metals Limited provided an update on activities at the Silver Lake-Fisher project which, when combined with the Foster-Baker project, represents a doubling of its nickel rights tenure at the Kambalda Nickel Project. As forecast in the December 2022 quarterly report, the Company has now commenced the trial of a "mini vibro-seis" system mounted on a lake 4 x 4 "Mule" vehicle. The trial will attempt to survey two, 2D seismic lines on the surface of Lake Lefroy, to the immediate east of the historical Silver Lake mine and to the immediate south of the Long Operation, host to the Victor (McLeay) and Long (Moran) channels.

Between these three main known nickel channels approximately 13.5 million tonnes of past ore production generated over 465,500 tonnes of nickel metal1 at an average grade of 3.45% Ni. Success with the 2D trial will demonstrate that this technique is effective on, and through, the lake sediments allowing the Company to commit to the full, 3D survey, which will likely carry an all-in-cost over $1 million and take between 3 and 6 months to execute, collect and interpret the data. Lunnon Metals objective is to ultimately acquire the new 3D seismic data immediately south of the Long-Victor 3D survey and complete a full litho-stratigraphic /structural re-interpretation of the approximately 2.0km2 Long South/Silver Lake "Gap" area, incorporating publicly available data relating to the hosting environment of the McLeay and Moran nickel deposits.

If the new 3D seismic survey results record any potential continuation of the channels annotated in the 2012 GA Long-Victor nickel mine 3D survey, the Company would consider this a highly successful outcome that would: greatly enhance the prospectivity of the acquired nickel rights; and provide high ranking, drill ready targets.