Mount Burgess Mining N.L. announced the Nxuu Deposit is a shallow basin shaped deposit where mineralisation occurs in a totally oxidised quartz wacke situated within a barren dolostone basin. Assays from 2021 Drilling Further to the announcement made on 8 April 2022, the Company has now received further assays from three more of the 18 holes drilled into the Nxuu Deposit in Oct/Nov/Dec 2021. All holes were assayed for: Zinc (Zn), Lead (Pb), Silver (Ag), Gallium (Ga), Germanium (Ge), and Vanadium (V).

Vanadium/Vanadium Pentoxide - Previous mineralogical test work confirmed that the host mineral for Vanadium is the oxide mineral Descloizite. In Descloizite the grade of Vanadium Pentoxide (V2O5) is 1.785 times the grade of Vanadium. As V2O5 is a marketable product, the Company has shown the V2O5 grades.

The three drill holes, which were all vertical, are shown in the following tables. Low cuts have been applied to assay grades as follows: Zinc (Zn)-1%, Lead (Pb)-1%, Silver (Ag)-10 g/t, Gallium (Ga)-10 g/t, Germanium (Ge)-3 g/t, Vanadium Pentoxide (V2O5)-300 ppm. For the purpose of understanding how the results of these three drill holes are associated with results of neighbouring holes already drilled, the three drill hole numbers have been shown in RED on the relevant drill hole cross sections 17 & 19.

Current Metal Prices - The current metal prices of the various metals are as follows: Zn in the region of $3,755/t ($37.55 per 1%) - LME, Pb in the region of $2,151/t ($21.51 per 1%) - LME, Ag in the region of $21.29/oz ($0.68 per gram) - Kitco Strategic Metals, Ga in the region of $826.5/kg - Kitco Strategic Metals, Ge in the region of $2,274/kg ­ Kitco Strategic Metals, and V2O5 in the range of $21.60/kg ­ Live Vanadium Price. Test Work Conducted to Date - Metallurgical test work conducted to date has shown that: 93% Zn can be recovered on site from the oxide mineral Smithsonite, through solvent extraction and electro-winning (SX/EW). 81% of V2O5 can be recovered on site from the oxide mineral Descloizite, through gravity separation, followed by flotation using a hydroximate acid reagent for recovery to a concentrate.

Mineralogical test work conducted to date has shown that: Both Ga and Ge are primarily hosted in muscovite (mica). Mica in the form of flakes can be recovered by flotation to produce a mica rich concentrate, enabling the recovery of Ga and Ge on site. This will however require confirmatory metallurgical test work.

Planned Resource Estimates compliant with 2012 JORC Code - Kihabe Deposit - An independent consultant is currently compiling a resource estimate on the Kihabe Deposit compliant with the 2012 JORC Code. Nxuu Deposit - Upon receipt of assay results from the Nxuu Deposit the Company will engage an independent consultant to conduct a resource estimate compliant with the 2012 JORC Code.