Lunnon Metals Limited provided a first-time Mineral Resource estimate (MRE) for the S16C and N14C surfaces, located at its historical Foster nickel mine, at the Kambalda Nickel Project (KNP). This new MRE comprises 64,000 tonnes @ 5.7% nickel for 3,700 contained nickel tonnes in Inferred Resource . The result increases Lunnon Metals' global MRE across the KNP to 2.64 million tonnes @ 3.1% nickel for 83,000 contained nickel tonnes, a 112.8% increase in contained metal since Lunnon Metals listed in June 2021.

The total MRE that is accessible from the historical Foster nickel mine decline now stands at 1.7 million tonnes @ 3.0% nickel for 52,200 contained nickel tonnes, and complements the recently upgraded Baker deposit MRE. The S16C and N14C surfaces were some 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 during the period operated by WMC Resources Ltd. (WMC).

The Company will continue to apply the Historical Core Programme at Foster, where approximately 40 surfaces remain to be investigated. There is also a multitude of surfaces at Jan Shaft, Fisher and Silver Lake historical nickel mines to which the Historical Core Programme could be applied. The goal of this programme is to update and report previous historical estimates in accordance with the JORC Code (2012) Guidelines, such as the 412,700 tonnes @ 2.3% nickel for 9,500 contained nickel tonnes added at N75C.

This programme was a key opportunity outlined in the Company's Prospectus at the time of listing on the ASX. Permitting activities to dewater and then re-enter the Foster mine to continue exploration activities from underground are well advanced.