Lunnon Metals Limited provided an update on the progress of its discovery programme in the Warren channel, part of the previously operated Foster nickel mine at its Kambalda Nickel Project (KNP). Lunnon Metals' programme at Warren is designed to demonstrate that this channel, a separate nickel mineralised channel in its own right, has the potential to host substantially more than the current 6,400t1 of nickel metal. The adjacent Foster channel, 1.5km to the immediate south-east, has an endowment of over 103,000t of nickel at 2.7% Ni (>61,000t mined previously up to 1994 and 42,100t1 in the Company's current JORC Mineral Resource).

To achieve this goal the Company's simple objective at Warren is to target the prospective nickel contact between the broad drill spacing left by WMC Resources Ltd. when the mine closed in 1994. The objective is to link-up these successful drill holes with the areas already reported in Mineral Resource. These current results demonstrate continuity of nickel mineralisation, further enhance the Company's ability to extend the Mineral Resource estimate and give the Company confidence that its theory at Warren is correct and the Mineral Resource will grow.

As previously reported, the 2021 DHTEM surveying of parent hole WRN21DD_003 recorded a high conductance, late time response modelled as a 55m x 40m plate. Nickel sulphide mineralisation in that hole (8.72m @ 3.54% Ni reported 4 January 2022) and in the first wedge (W1) (9.05m @ 2.82% Ni reported 4 April 2022) coincided with this plate and was on the prospective komatiite-basalt contact. The second wedge (W2) has returned a high grade, and as expected, narrower intercept of 0.55m @ 8.18% Ni (from 367.25m).

The thinning of the mineralisation reflects that this intercept is close to the plate's edge. Two further surface diamond holes also intersected nickel sulphides associated with this DHTEM plate. WRN22DD_004 hit the plate approximately 20m down dip of the original parent hole whilst 20m to the north and slightly up-plunge from the parent, WRN22DD_005 also recorded nickel sulphides.

Assay results for the nickel sulphide intersection at the komatiite-basalt contact in WRN22DD_004 are: 4.25m @ 6.02% Ni (from 370.15m) with 0.63% Cu, 0.11% Co, 1.31g/t Pd & 0.72g/t Pt. This diamond hole was logged as having a 1.06m wide nickel sulphide zone hosted in a basalt ­ basalt pinch out position, below the main Kambalda Komatiite - Lunnon Basalt contact (at 343.50m). This is a narrower intercept of nickel sulphides than the mineralisation recorded in the first parent hole and the first wedge hole.

Visual logging of the nickel sulphide mineralisation indicates that this may represent a thinning towards a pinch out in the up-plunge northerly direction. As planned, the Company has delivered five robust pierce points from this surface drilling programme. Each hole has recorded nickel sulphide mineralisation associated with the targeted DHTEM plate.

This has been achieved in an area previously thought not to host nickel sulphides. The modelled DHTEM plate closely correlated with the nickel sulphides intersected in holes WRN21DD_003, WRN21DD_003W1 and WRN21DD_003W2. As the plate was simply modelled as a planar feature, holes WRN22DD_004 and WRN22DD_005 intersected nickel sulphides slightly above the extrapolated plane of the DHTEM plate in the down-dip and up-plunge directions.

The pinch out (or termination) of the nickel sulphides up and down dip is yet to be determined which presents a significant opportunity. Additional surface diamond holes are underway targeting nickel sulphide mineralisation in these locations, both up dip of WRN21DD_003W1 and down dip of WRN22DD_004. In addition, further holes are planned to target the currently undrilled areas between the Company's current successful programme and the Mineral Resource boundaries down-plunge.

These holes will seek to test for the presence of continuous nickel sulphide mineralisation between this DHTEM plate target and the existing Mineral Resource.