Metals Australia Ltd. announced that it has identified outstanding lithium potential on its Canadian tenements located in the James Bay area of Quebec, Canada. Of particular interest are two properties, East Pontois and Felice, which are surrounded by the Corvette Lithium Project owned by Patriot Battery Metals Inc. ("Patriot") and sit on the CV Lithium Trend (see Figure 1). Patriot has announced results from Corvette including up to 159.7m @ 1.65% Li2O and 193ppm Ta2O51 from below outcropping pegmatite within what appears to be a world-class lithium corridor.

Metals Australia will immediately commence remote-sensing data interpretation to identify and map lithium bearing pegmatites within its highly-prospective East Pontois and Felice properties, to be followed by field investigation, mapping and sampling to verify the outstanding lithium potential identified. At the Company's Manindi Lithium Project in WA, X-Ray Diffraction (XRD) analyses (see Appendix 1) of drilling samples from the Foundation and Mulgara pegmatites, to determine the lithium mineralogy, has identified that the majority of the lithium in high-grade samples is the higher-grade lithium mineral, petalite. Significantly, petalite is an important ore of lithium and contains up to 5% Li2O, enhancing the quality of flotation concentrate grades that can be achieved.

Petalite can also be converted to spodumne and quartz under relatively low temperature and pressureconditions3. Petalite (and the secondary spodumene that can be formed from it) is lower in iron than primary spodumene, making it a more useful source of lithium than naturally occurring spodumene. Drilling of the Foundation Pegmatite has produced significant lithium-rubidium intersections, consistently above 1% Li2O, 0.3% Rb, along the entire 500m strike length of the LCT pegmatite identified 3 (Figure 2).

A further diamond drillhole is testing below the highest-grade section of the Foundation pegmatite where previous hole, MNRC076 (Figure 2) intersected 13m @ 1.03% Li2O, 0.27% Rb from 62m in MNRC076 incl. 8m @ 1.40% Li2O, 0.31% Rb in MNRC0762. Diamond drill-core samples will be aggregated to generate a bulk metallurgical sample for flotation concentrate testwork prior to downstream hydrometallurgical leaching to generate high-value lithium carbonate as well as other products (e.g. rubidium) from the leaching of petalite and lepidolite.