Lunnon Metals Limited announced the initial nickel Mineral Resource estimate centred on the N75C surface, part of the former Foster nickel mine at its Kambalda Nickel Project (KNP). The first-time Indicated and Inferred N75C Mineral Resource comprises: 270,700 tonnes @ 2.55% Ni for 6,900 nickel tonnes in Indicated Resource; and 142,000 tonnes @ 1.86% Ni for 2,600 nickel tonnes in Inferred Resource. This result increases Lunnon Metals' global Mineral Resource across the KNP to 1.65 million tonnes at 2.9% Ni for 48,500 tonnes of contained nickel, an increase of 24%.

Completion of the N75C Mineral Resource, the first from the Historical Core Programme since the Company listed in June 2021, demonstrates the potential of the 350km of historical core that is available at the KNP and the opportunity for the Company to continue to grow its Mineral Resource base independent of the discovery drilling programme. The drilling programme has so far successfully discovered a new source of nickel, Baker, and is rapidly extending the number of significant drilling intercepts at Warren outside the existing Mineral Resource in that channel. These achievements highlight both the prospectivity of the Company's ground holdings in the world renowned Kambalda nickel district as well as the ability of the famous Kambalda nickel channels to continue to yield extensional and new discoveries on an ongoing basis.

The N75C surface was one of the many nickel surfaces mined during the operational life of the Foster mine. Total mine production recorded over 61,000 tonnes of nickel metal produced from some 2.37 million tonnes of ore. Now that this Mineral Resource estimate is complete, the Company will continue to apply the Historical Core Programme at Foster, where approximately 45 sub-surfaces remain to be investigated, and also at Jan Shaft.

The goal of this programme is to update and report previous historical estimates in accordance with the JORC 2012 Guidelines. Permitting activities are under way in consultation with the Company's major shareholder, St Ives Gold Mining Co. Pty Ltd. (St Ives), to dewater and then re-enter the Foster mine to continue exploration activities from underground.

The N75C Mineral Resource grade estimation was completed by Cube Consulting Pty Ltd. (Cube) in consultation with, and based upon, geological interpretations and 3D models compiled by Lunnon Metals staff.