Neometals Ltd. announced that its review of the lithium exploration potential over its 100% owned Spargos Project ("Spargos") indicates a low potential for lithium-bearing pegmatites. Re-sampling and assaying of historical nickel exploration diamond drill core and assaying of recently collected rock chip and soil samples has returned no significant lithium assay results. Exploration results were as follows: 11 of 12 historic ESGB diamond drill cores were re-sampled with no significant lithium assay results returned; Upon review of the reprocessed imagery, assay results and whole rock geochemistry, Neometals has concluded that the ESGB has a low chance for Lithium-Caesium-Tantalum ("LCT") pegmatite prospectivity.

Upon review of the reprocessing imagery, poor Li2O assay results and whole rock geochemical survey results; bulk samples - size and method of treatment; metallurgical test results; bulk samples - size & method of treatment; metall surgical test results; bulk samples - sizes and method of treatment; bulk samples- size and method of treatment; bulk sample samples - size and methods; bulk samples - size and methods; and bulk samples - size and methodof treatment; metallurgical test Results; bulk samples - size and procedure results; bulk samples - size of treatment; bulk samples - size and process results; bulk samples - size. A quantitative and qualitative logging suite was supplied to NMT at the acquisition of the tenement in 2021. Historical data (drill data prior to NMT) Historical chip sampling methods include single metre riffle split and 4m composites that were either scoop or spear sampled.

Historical data (drill Data prior to NMT) All historical samples are assumed to have been prepared and assayed by industry standard techniques and methods. Historical data (drilldata prior to NMT) Data entry, verification and storage protocols remain unknown for historical operators. Location of data points - Accuracy and quality of surveys used to locate drill holes (collar and down-hole surveys), trenches, mine workings and other locations used in Mineral Resource estimation.

MGA94_51 is the grid system used in this program. Historical data (drill information prior to NMT) Historical collars are recorded as being picked up by DGPS, GPS or unknown methods and utilised the MGA94 zone 51 coordinate system. Historic reports indicate the Spectrum Surveys Pty Ltd. in Kalgoorlie were utilised during the project history.

Historical downhole surveys were completed by north seeking gyro, Eastman single shot and multi shot downhole camera. Historical data (drillData prior to NMT) Sample security measures are unknown. Other substantive exploration data, if meaningful and material, should be reported including (but not limited to): geological observations; geophysical survey results; geochemical survey results; bulk sample samples - size & method oftreatment; metallurgical test results.