Montem Resources Limited announced it has completed a JORC Resource Estimate update for the Chinook Project. The coal Resource Estimate for the Chinook Project has increased by 23Mt to 172Mt (108Mt Indicated and 64Mt Inferred). The Chinook Project ("Chinook" or the "Project") in Alberta, Canada is made up of two areas, Chinook Vicary and Chinook South. The Project is located entirely within 1976 Coal Development Policy for Alberta Category 4 lands. Along with the 172Mt coal Resource Estimate, the Project also contains a coal Exploration Target Estimate of an additional 125Mt to 450Mt 1 at Chinook Vicary. The JORC Resource Estimate update is located in the Vicary Domain, which makes up the central portion of the Chinook Vicary area. The Vicary Domain was the target of Montem's 2020 exploration drilling program which confirmed the occurrence of near surface, structurally thickened coal seams suitable for future open-cut extraction 2. Coupled with a detailed review of historical data, this Resource Estimate update is a direct result of the Chinook Vicary 2020 drilling program. Coal quality results from the 2020 drilling program were exceptional with working section clean coal composite producing high simulated plant yields with low ash: 9.1%; low volatile matter: 21.4%; low total sulphur: 0.48%; favourable rank (RoMax): 1.31%; and outstanding CSR: 70, confirming that the Chinook Vicary coal attributes fit precisely in the specification range to be marketed as a "Premium Low Vol Hard Coking Coal".