Mount Burgess Mining N L : Kihabe-Nxuu Project Botswana - Gallium

KIHABE - NXUU PROJECT GALLIUM

25 May 2022ASX CODE: MTB

onlyWith the recent increase in the Gallium (Ga) price to US $826.50/kg (Kitco Strategic Metals 23/05/22), the C mpany has conducted further research into the contribution Ga could make to the Kihabe - Nxuu Project.

Ga intersections in the Nxuu Deposit

useTo date, 30 holes so far drilled into the totally oxidised, polymetallic Zn/Pb/Ag/V2O5/Ga/Ge Nxuu Deposit have been assayed for Ga. The cumulative 607.45m Ga intersection length is far longer than those of the other five minerals, as follows:

• Ga intersections are 50.69% longer than the 403.10m Zn intersections
• Ga intersections are 120.23% longer than the 275.83m V2O5 intersections
• Ga intersections are 163% longer than the 230.95m Pb intersections
• Ga intersections are 349.13% longer than the 135.28m Ge intersections
• Ga intersections are 389.48% longer than the 124.10m Ag intersections

personalThe average grade of the 607.45m Ga intersections is 10.8g/t. (Refer to the Weighted Average Grade Table 1 below. Data released to ASX on 29 April 2022)

Ga intersections in the Kihabe Deposit

To date 7 holes drilled into the oxide zone of the polymetallic Zn/Pb/Ag/V2O5/Ga/Ge Kihabe Deposit have been assayed for Ga. The cumulative 330.30m length of the Ga intersections is far longer than those of the other five minerals as follows:

• Ga intersections are 52.94% longer than the 216m Zn intersections
• Ga intersections are 118.77% longer than the 151m Pb intersections
• Ga intersections are 131.01% longer than the 143.36m Ag intersections
• Ga intersections are 150.27% longer than the 132m V2O5 intersections
• Ga intersections are 432.82% longer than the 62m Ge intersections

ForThe average grade of the 330.30m Ga intersections is 12.12g/t (Refer to Table 2 showing intersection lengths of Ga/Zn/Pb/Ag/V2O5/Ge and Table 3, showing Ge Average Grades). Data relevant to the above intersections was released to ASX on 9 February 2022.

Test Work Conducted on Ga

As announced on 3 March 2022 test work conducted by the University of Tasmania confirmed that Ga and Germanium (Ge) are hosted in micas. Mica in the form of flakes can generally be recovered by flotation to produce a mica rich concentrate, facilitating the recovery of Ga and Ge. Test work will need to be conducted

onlyto confirm this.

Potential Contribution of Ga

The Ga mineralisation in both the Nxuu and Kihabe Deposits would be extracted in the mining process when extracting the other five minerals.

Future Demand for Ga

useAccording to TRADIUM GmbH, a German Company that deals in technology metals, rare earths and precious metals, Ga price increases are due primarily to demand from the 5G mobile phone networks which require greater amounts of Ga than are available. https://tradium.com/en/

TRADIUM further states:

personal"The new generation of phones requires high efficiency power amplifiers that run on gallium arsenide or g llium nitride.

Base stations for 5G data transmission can become extremely hot when data volume is high. Gallium c mputer chips can withstand these temperatures better than traditional silicon- based chips."

"Gallium is a critical resource, which means it is of high economic relevance but only of limited availability. This makes Gallium ideal for an alternative investment. The global production capacity of the rare metal is currently around 720 tonnes per year and is considered to be exhausted.

However, demand is certainly increasing. For foreseeable technical innovations up to 2030, the Fraunhofer Institute System and Innovation Research expects a worldwide demand that is six times higher than today's world production of gallium".

For

TABLE 1 - NXUU DEPOSIT GA/ZN/PB/AG/V2O5/GE WEIGHTED AVERAGE GRADES

For personal use only

• 607.45m of Ga intersections give a weighted average grade of 10.8g/t, applying an 8g/t low cut
• 403.10m of Zn mineralisation give a weighted average grade of 2.0%, applying a 1% low cut
• 230.95m of Pb mineralisation give a weighted average grade of 1.5%, applying a 1% low cut
• 124.10m of Ag mineralisation give a weighted average grade of 22.1g/t, applying a 10g/t low cut
• 275.83m of V2O5 mineralisation give a weighted average grade of 1,224ppm (1.2kg/t) applying a 250g/t low cut
• 135.28m of Ge mineralisation give a weighted average grade of 5.6g/t, applying a 4g/t low cut

TABLE 2 - KIHABE DEPOSIT OXIDE ZONE SHOWING INTERSECTION LENGTHS OF Ga/Zn/Pb/Ag/V2O5/Ge MINERALISATION

HOLE No:	Ga	Zn	Pb	Ag	V2O5	Ge
	(m)	(m)	(m)	(m)	(m)	(m)
KDD204	41.85	33.00	12.00	21.00	25.00	4.00
KDD203	48.85	40,00	48.00	31.00	22.00	20.00
KDD202	40.80	40.00	20.00	26.80	10.00	12.00
KDD201	91.00	52.00	44.00	43.56	17.00	16.00
KDD206	57.00	46.00	22.00	19.00	31.00	6.00
KDD200	21.00	5.00	5.00	2.00	15.00	4.00
KDD205	29.85	-	-	-	12.00	-
	-----------------------------------------------------------------------
Total	330.38	216.00	151.00	143.36	132.00	62.00
Additional	-----------------------------------------------------------------------
Length % of Ga	52.94%	118.77% 131.01% 150.27% 432.82%

TABLE 3 - KIHABE DEPOSIT AVERAGE Ga GRADES

For personal use only

		Grams x Metres
KDD204 39.85m @ 11.8g/t =	470.23
	2.00m @ 9.7g/t =	19.40
KDD203 14.00m @ 13.2g/t =	184.80
	7.00m @ 10.9g/t =	76.30
	27.85m @ 11.9g/t =	331.42
KDD202 4.00m @ 11.8g/t =	47.20
	17.00m @ 12.1g/t =	205.70
	19.80m @ 12.5g/t =	247.50
KDD201 91.00m @ 12.6g/t =	1,146.60
KDD206 4.00m @ 13.6g/t =	54.40
	14.30m @ 14.3g/t =	65.80
	5.00m @ 10.2g/t =	51.00
	42.00m @ 12.2g/t =	512.40
KDD200 10.00m @ 11.4g/t =	114.00
	11.00m @ 10.4g/t =	114.40
KDD205 18.00m @ 12.4g/t =	223.20
	11.85m @ 11.8g/t =	139.83
	---------------------------------------------------
Total	330.30m	4,004.18
	---------------------------------------------------

Weighted Average Ga Grade

4,004.18 gram x metres divided by 330.30m = 12.12g/t

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						Annexure B
use only		TENEMENT HOLDING
personal
Location	Project	Licence	Licence	Registered	Nature of
		Number	Size	Holder	Interest
Western	Kihabe/Nxuu	PL		Mount Burgess
Ngamiland,	Polymetallic	043/2016	1,000 sq	Botswana (Pty)	100%
For	Botswana	Project		Ltd
	km